EXIT FULL POSITION IN LINAMAR AT $61.08 (LNR-T)

Linamar Corporation is a machine parts manufacturer that operates through two segments: the Powertrain/Driveline and the Industrial. The segments include: Machining & Assembly, Light Metal Casting, Forging and Skyjack. The Company's Skyjack operating group is noted for its mobile aerial work platforms. The Company provides core engine components, including cylinder blocks and heads, camshafts and connecting rods. For transmission, it builds differential assemblies, gear sets, shaft and shell assemblies, as well as clutch modules.

JUSTIFICATION: We bought LNR in June 2016 at $51.80. We have just exited with an 18% profit excluding dividends received. LNR has been fairly volatile in the last 6 months and it very close to our $64 target. We do not want to be greedy on this and prefer to have cash for the next round of opportunities that show up.