First trades

Below are the first trades for the portfolio. All stocks were priced low compared to their net current assets at the time of purchase.

Company Ticker Date Price P/NCAV
Boom Logistics Ltd ASX:BOL 2014, Jun 0.13 0.57*
QC Holdings, Inc. NASDAQ:QCCO 2014, Dec 1.67 0.67
Hengxin Technology HKG:1085 2015, Mar 1.38 0.45
Tiemco Ltd TYO:7501 2015, Mar 577 0.50
I-O DATA DEVICE TYO:6916 2015, Mar 630 0.53

Includes Plant & Equipment

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