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Institutional Investment Manager
TFS CAPITAL LLC
TFS CAPITAL LLC (CIK: 0001427379) incorporated in Virginia, located at 10 N. High Street, West Chester, PA. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q1)
Portfolio Summary: 979 holdings with a total value of $694,002,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 CYNOSURE CL A ORD 47,702 2,105,000 0.30%
52 INFINITY PHARMACEUTICALS INC 399,320 2,104,000 0.30%
53 HMS HOLDINGS CORPORATION 146,385 2,101,000 0.30%
54 ATRION CORP 5,302 2,096,000 0.30%
55 LYDALL INC COM 64,282 2,090,000 0.30%
56 SKYWEST INC 104,504 2,089,000 0.30%
57 ICU MED INC 20,039 2,086,000 0.30%
58 VECTRUS INC 91,463 2,081,000 0.30%
59 ASBURY AUTOMOTIVE GROUP INC COM 34,508 2,065,000 0.30%
60 QUAD/GRAPHICS INC 159,320 2,062,000 0.30%
61 Marcus & Millichap Inc Com 80,285 2,038,000 0.29%
62 DELEK US HLDGS INC COM 133,640 2,037,000 0.29%
63 BARNES & NOBLE INC 164,617 2,035,000 0.29%
64 SPX FLOW INC 80,961 2,031,000 0.29%
65 SEMGROUP CORP CL A 90,495 2,027,000 0.29%
66 TIMKENSTEEL CORPORATION COM 222,446 2,024,000 0.29%
67 VONAGE HLDGS CORP 440,506 2,013,000 0.29%
68 BELDEN INC 32,572 1,999,000 0.29%
69 PBF ENERGY INC 60,105 1,995,000 0.29%
70 REGAL BELOIT CORP 31,554 1,991,000 0.29%
71 INNERWORKINGS INC 249,342 1,982,000 0.29%
72 TENET HEALTHCARE CORP 68,506 1,982,000 0.29%
73 ACETO CORP 83,794 1,974,000 0.28%
74 AMERIPRISE FINANCIAL, INC. 95,775 1,947,000 0.28%
75 FOSTER L B CO CL A 105,987 1,925,000 0.28%
76 PRESTIGE BRANDS HLDGS INC 35,978 1,921,000 0.28%
77 LIBERTY TRIPADVISOR HLDGS INC COM SER A 86,499 1,917,000 0.28%
78 POWELL INDS INC COM 63,759 1,901,000 0.27%
79 OPHTHOTECH CORP 44,920 1,899,000 0.27%
80 BIOSPECIFICS TECHNOLOGIES CO 54,505 1,898,000 0.27%
81 NABORS INDUSTRIES LTD 205,985 1,895,000 0.27%
82 ADVANCED ENERGY INDS COM 54,422 1,893,000 0.27%
83 RUTHS CHRIS STEAK HSE INC COM 102,660 1,890,000 0.27%
84 FLWS/1-800 FLOWERS CL A 238,728 1,881,000 0.27%
85 LA Z BOY INC COM 70,314 1,880,000 0.27%
86 RACKSPACE HOSTING INC 85,974 1,856,000 0.27%
87 REPLIGEN CORP COM 69,168 1,855,000 0.27%
88 COOPER STD HLDGS INC 25,462 1,829,000 0.26%
89 AAR CORP COM 78,271 1,821,000 0.26%
90 CONCERT PHARMACEUTICALS INCORPORATED 133,184 1,819,000 0.26%
91 FIVE PRIME THERAPEUTICS INC 44,666 1,815,000 0.26%
92 BLACKHAWK NETWORK 52,732 1,809,000 0.26%
93 Exactech Inc 88,960 1,802,000 0.26%
94 RIGEL PHARMACEUTICAL INC 865,197 1,800,000 0.26%
95 QEP RES INC 127,079 1,793,000 0.26%
96 TEEKAY CORPORATION 205,996 1,784,000 0.26%
97 CAREER EDUCATION CRP 391,747 1,779,000 0.26%
98 OWENS & MINOR INC NEW 43,863 1,773,000 0.26%
99 PHIBRO ANIMAL HEALTH CORP CL A COM 65,112 1,761,000 0.25%
100 COMTECH TELECOMMUNICATIONS C 75,205 1,758,000 0.25%
Page 2 of 20

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001111830-16-001388, filed 2016.05.10).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.