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Arctic Glacier Income Fund (AG.UN-CSE)

COMMENT
2nd biggest retail bagged ice manufacturer in North America. Dependent on key weekends such as July 1st-July 4th.
BUY
Very good management team. Consolidating a very fragmented space in the US. Expansion into Texas, California, etc. is a good move.
HOLD
Most of their 80% income comes from the US. The dominant player in California and northern US. Very seasonal, so he is cautious on this.
BUY
Market leaders in manufacturing and distributing ice. Fairly non-cyclical. Not all that exciting regarding their growth potential. Have delivered fairly stable returns over the long run. Reasonable buy long-term.
BUY
The #2 supplier of ice in North America. Very capable management team.
DON'T BUY
Made a big acquisition in California. Debt is higher than what he would like. Would like to see their payout ratio reduced.
BUY
Manufacture ice for sale in convenience stores, Beer Store, LCBO, etc. One of the dominant retailers of ice in New York/Pennsylvania area.
HOLD
Extremely stable commodity end product and is never going out of style. However, this one has not been able to extract any synergies or economies of scale as it’s grown. Buy on big dips or when they are doing financing.
Showing 16 to 23 of 23 entries