Top 10 Holdings as of 12/31/2018 (%)
| % of Net Assets | |
|---|---|
| Berkshire Hathaway, Inc. - Class B (BRK/B) | 4.04 |
| Protective Insurance Corp. - Class B (PTVCB) | 3.46 |
| Dorel Industries, Inc., 11/30/2019, 5.500% | 3.44 |
| Unit Corp, 05/15/2021, 6.625% | 3.42 |
| Cable One, Inc., 06/15/2022, 5.750% | 3.15 |
| % of Net Assets | |
|---|---|
| Nathan's Famous, Inc., 11/01/2025, 6.625% | 2.98 |
| Hallmark Financial Services, Inc. (HALL) | 2.96 |
| FirstCash, Inc., 06/01/2024, 5.375% | 2.94 |
| Multi-Color Corp., 12/01/2022, 6.125% | 2.88 |
| Caleres, Inc., 08/15/2023, 6.250% | 2.72 |
Sector Allocation as of 12/31/18 (%)
| % of Net Assets | |
|---|---|
| Consumer Discretionary | 31.1 |
| Financials | 22.6 |
| Information Technology | 11.6 |
| Industrials | 11.5 |
| Cash & Cash Equivalents | 5.2 |
| Real Estate | 4.2 |
| Healthcare | 4.0 |
| Energy | 3.4 |
| Materials | 2.5 |
| Consumer Staples | 2.4 |
| Communication Services | 1.2 |
| Currency Derivatives | 0.3 |
Asset Allocation as of 12/31/18 (%)
| % of Net Assets | |
|---|---|
| Common Stocks | 54.9 |
| Corporate Bonds | 34.6 |
| Cash and Cash Equivalents | 5.2 |
| Convertible Bonds | 5.0 |
| Currency Derivatives | 0.3 |
Portfolio Characteristics as of 12/31/18
Median Market Cap
$1.3B
Portfolio Price/Earnings
17.74X
Portfolio Price/Book
1.94X
Standard Deviation
12.90
Beta
0.52