Bread Semi-Annual 2017 print

The top three holdings represent 27.65% of the Fund and include Berkshire Hathaway (BRK-B), Tyson Foods (TSN) and Philip Morris International (PM). The stocks have been long term holdings as two were purchased at the depths of the 2008-2009 financial crisis. At the time of purchase, these stocks were purchased at very attractive valuations. ................
................