Gfi Investment Counsel Ltd. Portfolio Holdings by Sector

Gfi Investment Counsel Ltd.

Industry	Value	Buys	Sells	New Positions	Closed Positions	Options
Credit Services \| Financial Services V AXP 2 stocks	$153,672 17.99% of portfolio	1	1	-	-	0 Calls 0 Puts
Financial Data & Stock Exchanges \| Financial Services MCO MSCI 2 stocks	$149,157 17.47% of portfolio	2	-	-	-	0 Calls 0 Puts
Consulting Services \| Industrials EFX BAH 2 stocks	$105,967 12.41% of portfolio	2	-	-	-	0 Calls 0 Puts
Software—Infrastructure \| Technology MSFT 1 stocks	$92,352 10.81% of portfolio	-	1	-	-	0 Calls 0 Puts
Specialty Industrial Machinery \| Industrials ROP 1 stocks	$79,415 9.3% of portfolio	-	1	-	-	0 Calls 0 Puts
Lodging \| Consumer Cyclical HLT 1 stocks	$73,306 8.58% of portfolio	1	-	-	-	0 Calls 0 Puts
Specialty Chemicals \| Basic Materials SHW 1 stocks	$64,985 7.61% of portfolio	1	-	-	-	0 Calls 0 Puts
Insurance Brokers \| Financial Services AON 1 stocks	$59,439 6.96% of portfolio	1	-	-	-	0 Calls 0 Puts
Information Technology Services \| Technology G 1 stocks	$58,527 6.85% of portfolio	1	-	-	-	0 Calls 0 Puts
ETFs \| ETFs BIL IGIB 2 stocks	$7,411 0.87% of portfolio	1	-	-	-	0 Calls 0 Puts
Software—Application \| Technology CRM 1 stocks	$6,346 0.74% of portfolio	-	1	-	-	0 Calls 0 Puts
Real Estate Services \| Real Estate FSV CBRE 2 stocks	$2,393 0.28% of portfolio	1	-	1	-	0 Calls 0 Puts
Insurance—Diversified \| Financial Services BRK-B 1 stocks	$581 0.07% of portfolio	-	-	-	-	0 Calls 0 Puts
Discount Stores \| Consumer Defensive COST 1 stocks	$254 0.03% of portfolio	1	-	1	-	0 Calls 0 Puts
Internet Retail \| Consumer Cyclical AMZN 1 stocks	$228 0.03% of portfolio	1	-	1	-	0 Calls 0 Puts

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