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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 (2016Q4)
Portfolio Summary: 711 holdings with a total value of $374,068,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 CROSS CTRY HEALTHCARE INC COM 10,868 170,000 0.05%
152 AROTECH CORP 48,924 171,000 0.05%
153 Sutherland Asset Management Corp 12,721 171,000 0.05%
154 NUVEEN CONNECTICUT QLTY MUN FD 14,017 172,000 0.05%
155 Nuveen Closed-End Funds/USA 13,428 172,000 0.05%
156 ASA GOLD AND PRECIOUS MTLS L 15,657 173,000 0.05%
157 CONSOLIDATED WATER CO INC ORD 16,017 174,000 0.05%
158 Oxford Immunotec Global PLC 11,788 176,000 0.05%
159 ALPINE TOTAL DYNAMIC DIVID F 23,322 177,000 0.05%
160 APOLLO COML REAL EST FIN INC 10,667 177,000 0.05%
161 AXT INC 37,057 178,000 0.05%
162 INTEVAC INC COM 21,227 181,000 0.05%
163 C D I CORP 24,894 184,000 0.05%
164 ADVENT CLAYMORE CV SECS & INCORPORATED 12,506 184,000 0.05%
165 CUSHING RENAISSANCE FD 10,648 185,000 0.05%
166 INDEPENDENCE CONTRACT DRIL I COM 27,938 187,000 0.05%
167 BLACK DIAMOND INC 35,092 188,000 0.05%
168 VIAVI SOLUTIONS INC 23,373 191,000 0.05%
169 BANK MUTUAL CORP NEW 20,364 192,000 0.05%
170 TURNING PT BRANDS INC 15,902 195,000 0.05%
171 NAVIOS MARITIME ACQUIS CORP SHS 116,178 198,000 0.05%
172 COMMERCEHUB INC COM SER A 13,194 198,000 0.05%
173 COMMERCEHUB INC COM SER C 13,152 198,000 0.05%
174 ROYCE VALUE TR INC 14,757 198,000 0.05%
175 CLOUGH GLOBAL EQUITY FD 17,776 198,000 0.05%
176 MACQUARIE GLOBAL INFRASTRUCT 10,018 198,000 0.05%
177 Meta Finl Group Inc 1,947 200,000 0.05%
178 CHICOS FAS INC 13,966 201,000 0.05%
179 1st Source Corp 4,507 201,000 0.05%
180 PREFORMED LINE PRODS CO 3,460 201,000 0.05%
181 DELAWARE ENHANCED GBL DIV & 20,007 202,000 0.05%
182 SUFFOLK BANCORP COM 4,713 202,000 0.05%
183 BALDWIN AND LYONS INC CL B 8,068 203,000 0.05%
184 PharMerica Corp 8,066 203,000 0.05%
185 STANDARD MTR PRODS INC COM 3,810 203,000 0.05%
186 IXYS Corporation 17,120 204,000 0.05%
187 MOELIS & CO 6,013 204,000 0.05%
188 NAVIGATORS GROUP INC 1,731 204,000 0.05%
189 TEMPLETON DRAGON FD INC 12,453 204,000 0.05%
190 VIVUS INC 178,309 205,000 0.05%
191 ESCO TECHNOLOGIES INC COM 3,623 205,000 0.05%
192 FCB FINL HLDGS INC CL A 4,310 206,000 0.06%
193 REPUBLIC BANCORP KY 5,201 206,000 0.06%
194 NUVEEN MARYLAND QLT MUN INCORPORATED FD 16,599 206,000 0.06%
195 LENNAR CORP 5,971 206,000 0.06%
196 FIVE9 INC 14,578 207,000 0.06%
197 APOLLO ED GROUP INC 20,899 207,000 0.06%
198 STEIN MART INC 37,787 207,000 0.06%
199 CYBEROPTICS CORP 7,977 208,000 0.06%
200 INNOSPEC INC COM 3,047 209,000 0.06%
Page 4 of 15

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001111830-17-000033, filed 2017.01.20).

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.