Within Select Industries Portfolio, Diversified Financial Services equity group has been de-activated, and is being replaced by a screen-based quantitative theme called Deep Value. This is essentially a GARP type screen.
We initiated a new position in the Tobacco group, which is currently exhibiting strength across all categories of the GS Scores
Proceeds from the sales of the Rails were used to establish a new 8.1% position in “Deep Value” stocks.
“Video Gaming Technology” and “Affluent Consumer”; along with a new Jim Floyd quantitative screen: “Deep Value.”