Portfolio Holdings

31/10/2021	% of NAV
Japan Special Situations	15.3%
Pershing Square Holdings	8.3%
EXOR	7.0%
Third Point Investors	6.4%
KKR	6.3%
Sony	5.4%
Aker ASA	5.3%
Oakley Capital Investments	5.3%
Christian Dior	4.3%
Fondul Proprietatea	3.9%
Investor AB ‘B’	3.9%
Apollo Global	3.7%
IAC/InterActive	3.3%
Godrej Industries	3.2%
Keisei Electric Railway	2.8%
Femsa	2.7%
Nintendo	2.6%
Hipgnosis Songs	2.6%
Symphony International Holdings	2.3%
Associated British Foods	2.3%
VNV Global	2.3%
Swire Pacific Ltd ‘B’	2.0%
Universal Music Group	1.5%
Capital & Counties	0.8%
JPEL Private Equity	0.7%
Better Capital 2009	0.2%
Ashmore Global Opportunities	0.1%
Eurocastle Investment	0.0%

* A basket of 14 stocks: Daiwa Industries, Fujitec, Kato Sangyo, Konishi, NS Solutions, Pasona Group, Sekisui Jushi, SK Kaken, Teikoku Sen-I, Toagosei, Digital Garage, DTS Corp, Bank of Kyoto, Wacom.

AVI Global Trust p.l.c is referred to as ‘AVI Global’ throughout the website. AVI Global’s investment managers, Asset Value Investors are referred to as ‘AVI’

AVI Global currently conducts its affairs so that its shares can be recommended by Independent Financial Advisers (“IFAs”) in the UK to ordinary retail investors in accordance with the Financial Conduct Authority (“FCA”) rules in relation to non-mainstream investment products and intends to continue to do so. The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an authorised investment trust. © AVI Global Trust plc. 2019 Registered in England No: 00028203. An investment company under Section 833 of the Companies Act 2006. Registered Office: Beaufort House, 51 New North Road, Exeter, EX4 4EP. Managed by Asset Value Investors Ltd. which is authorised and regulated by the Financial Conduct Authority. Past performance should not be seen as an indication of future performance. The price of investments and the income may fall as well as rise and investors may not get back the full amount invested. AVI Global uses gearing techniques (leverage) which will exaggerate market movements both down and up which could mean sudden and large falls in market value. Please refer to the Key Features Document for further details of the risks affecting your investment. Performance figures are cumulative and based on Price total return and do not include Plan charges. For more information, please call 03458 500181. Tax treatment depends on the individual circumstances and may be subject to change in the future. Asset Value Investors Ltd do not offer Innovative Finance ISAs.