Reuters Leah Duncan and David Bechtel discuss what's driving markets, attractive opportunities in technology and consumer defensive areas of the market, and monetary policies of the Federal Reserve and the Bank of Japan. - Click to View
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The thoughts and opinions expressed in the video are solely those of the person speaking as of July 25, 2016. There can be no assurance with regard to future market movements. The discussion of individual companies should not be considered a recommendation of such companies by the Fund's investment adviser. The discussion is designed to provide viewers with an understanding of how the Fund's investment adviser manages the Fund's portfolio. There can be no assurance with regard to future market movements. Mutual fund investing involves risk. Principal loss is possible. The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Fund and may be obtained by calling 1-877-767-6633. Read it carefully before investing. Distributed by Ultimus Fund Distributors, LLC. The Fund may participate in short sales which are speculative transactions and involve special risks and include greater reliance on the Adviser's ability to accurately anticipate the future value of a security. The Fund invests in small- and mid-cap companies, which involves additional risks such as limited liquidity and greater volatility.
BALIX/BALAX – Top Ten Holdings as of June 30, 2016
Top Ten Holdings
| Holdings | % of Equity |
| Anika Therapeutics Inc. | 1.61% |
| WD-40 Ltd. | 1.49% |
| Lancaster Colony Corp. | 1.39% |
| Herbalife Ltd. | 1.39% |
| National Beverage Corp. | 1.34% |
| Omnicom Group | 1.31% |
| Altria Group Inc. | 1.30% |
| Quest Diagnostics Inc. | 1.28% |
| Reynolds American Inc. | 1.25% |
| Nu Skin Enterprises Inc. | 1.22% |
| Total | 13.57% |
Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.
BFSLX/BFLSX – Top Ten Holdings as of June 30, 2016
Top Ten Holdings
| Long Positions | ||
| Anika Therapeutics Inc. | 2.12% | |
| WD-40 Co. | 1.95% | |
| Lancaster Colony Corp. | 1.82% | |
| Herbalife Ltd. | 1.81% | |
| National Beverge Corp. | 1.75% | |
| Omnicom Group | 1.71% | |
| Altria Group Inc. | 1.70% | |
| Quest Diagnostics | 1.68% | |
| Reynolds American Inc. | 1.63% | |
| Nu Skin Enterprises Inc. | 1.61% | |
| Total | 17.78% | |
| Short Positions | ||
| Calavo Growers Inc. | (1.03%) | |
| Fresh Del Monte Produce Inc. | (0.81%) | |
| Spartannash Co. | (0.79%) | |
| Treehouse Foods Inc. | (0.76%) | |
| Casey's General Stores Inc. | (0.73%) | |
| Coca Cola Bottling Co. | (0.71%) | |
| Dean Foods Co. | (0.64%) | |
| Snyders-Lance Inc. | (0.62%) | |
| Integra Lifesciences Holding | (0.61%) | |
| Weis Markets Inc. | (0.60%) | |
| Total | (7.28%) | |
Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.
