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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
901 SYNERON MEDICAL LTD 12,697 93,000 0.01%
902 API TECHNOLOGIES CORP 46,661 92,000 0.01%
903 TSAKOS ENERGY NAVIGATION LTD 14,636 90,000 0.01%
904 PENNANTPARK INVT CORP 14,818 90,000 0.01%
905 YAMANA GOLD INC 29,184 89,000 0.01%
906 MORGAN STANLEY EMER MKTS DEB 10,165 89,000 0.01%
907 DENBURY RESOURCES INC 39,860 88,000 0.01%
908 EATON VANCE SR INCOME TR 14,725 85,000 0.01%
909 AGENUS INC 20,407 85,000 0.01%
910 SINOVAC BIOTECH LTD 13,199 84,000 0.01%
911 PRIMERO MNG CORP 46,549 84,000 0.01%
912 AUDIOVOX CORP CL A 18,543 83,000 0.01%
913 RICHMONT MINES INC 14,758 83,000 0.01%
914 MFS HIGH INCOME MUN TR 16,112 83,000 0.01%
915 LIBERTY ALL STAR GROWTH FD I 20,181 82,000 0.01%
916 ELLSWORTH GROWTH AND INCOME FU COM 10,804 82,000 0.01%
917 NEVSUN RES LTD 25,425 82,000 0.01%
918 IAMGOLD CORP 36,203 80,000 0.01%
919 ROSETTA STONE INC COM 11,633 78,000 0.01%
920 FIFTH STREET FINANCE CORP 15,537 78,000 0.01%
921 VOYA GLBL EQTY DIV & PREM OP 10,962 78,000 0.01%
922 KEMET CORP COM NEW 40,369 78,000 0.01%
923 NEW GOLD INC CDA 20,729 77,000 0.01%
924 TEMPLETON GLOBAL INCOME FD 11,821 77,000 0.01%
925 FRANKLIN UNVL TR 12,136 76,000 0.01%
926 VOYA PRIME RATE TR 14,603 74,000 0.01%
927 ARGOS THERAPEUTICS INC 11,212 72,000 0.01%
928 TIPTREE INC 12,547 72,000 0.01%
929 NUVEEN SR INCOME FD 12,191 72,000 0.01%
930 GAMCO NATL RES GOLDINCM 10,847 71,000 0.01%
931 ABERDEEN ASIA PACIFIC INCOM 13,924 70,000 0.01%
932 MEDGENICS INC 15,663 69,000 0.01%
933 VAALCO ENERGY INC 70,820 67,000 0.01%
934 STEMLINE THERAPEUTICS INC 14,229 66,000 0.01%
935 PIONEER ENERGY SVCS CORP 29,465 65,000 0.01%
936 INVESCO SR INCOME TR 16,169 65,000 0.01%
937 A H BELO CORP 13,111 63,000 0.01%
938 NII HLDGS INC COM PAR 0.001 11,283 62,000 0.01%
939 APOLLO INVT CORP 10,873 60,000 0.01%
940 ENDEAVOUR SILVER CORP 23,562 58,000 0.01%
941 CHIMERIX INC 11,369 58,000 0.01%
942 CLEAR CHANNEL OUTDOOR HLDGS CL A 11,764 55,000 0.01%
943 GOLD RESOURCE CORP 23,446 55,000 0.01%
944 Arena Pharmaceuticals, Inc 27,642 54,000 0.01%
945 QLT INC 26,444 53,000 0.01%
946 Sizmek Inc 18,425 53,000 0.01%
947 FIBROCELL SCIENCE INC 20,807 52,000 0.01%
948 ArQule Inc 32,020 51,000 0.01%
949 HALLADOR ENERGY COMPANY 10,783 49,000 0.01%
950 WESTERN ASSET MGD HI INCM FD 10,989 49,000 0.01%
Page 19 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.