This was a good quarter for me, driven by a big jump in Avesco as the market became aware of its profitability.  There is probably some further upside there as the non US business stops being a drag on performance.  However, since month end, I have taken some profits and put them in Exova.  I am trying to transfer my Exova exposure from my spread betting account to my pension because the margin requirement is high (illiquid mid cap).  However, the bid/ask spread is so big that I haven't yet managed to execute the "sell" part of the rebalance.  That's ok because I continue to love Exova as a long term undervalued quality stock and I look forward to its results in a few weeks.

In the next few days, I am going to buy Distribution Now (DNOW), which is a distribution business within the oil + gas sector.  It's international but mostly in the US.  It is, various, liked by a great investor (Allen Mecham); a spinoff; a consolidator with liquidity for M&A and room for operational improvements, and operating in an industry at a cyclical low.  There is a long thesis on VIC which I like, and a short thesis which has a target price we are not at.

I may also buy more AIG at some point because I think it's still long term cheap.