| Name of company | % of portfolio |
| 1 | Treatt Plc Ordinary 2p | 15.12 |
| 2 | Hill & Smith Holdings Plc Ordinary 25p | 13.19 |
| 3 | Macfarlane Group Plc Ordinary 25p | 10.37 |
| 4 | Scapa Group Plc Ordinary 5p | 9.11 |
| 5 | Vp Plc Ordinary 5p | 8.99 |
| 6 | Spirax-Sarco Engineering Plc Ordinary 26.9231p | 8.93 |
| 7 | Electrocomponents PLC Ordinary 10p | 7.13 |
| 8 | Colefax Group Plc Ordinary 10p | 6.39 |
| 9 | Renold Plc Ordinary 5p | 2.65 |
| 10 | Eleco Plc Ordinary 1p | 2.50 |
| 11 | Vitec Group Plc Ordinary 20p | 2.19 |
| 12 | IMI Plc Ordinary 25p | 2.18 |
| 13 | Morgan Advanced Materials Plc Ordinary 25p | 1.94 |
| 14 | Bellway Plc Ordinary 12.5p | 1.66 |
| 15 | Carr's Group Plc Ordinary GBp2.5 | 1.47 |
| 16 | Menzies (John) Plc Ordinary 25p | 1.13 |
| 17 | Castings Plc Ordinary 10p | 0.96 |
| 18 | National Grid Plc Ordinary 11.395p | 0.85 |
| 19 | Titon Holdings Plc Ordinary 10p | 0.73 |
| 20 | GlaxoSmithKline Plc Ordinary 25p | 0.65 |
| 21 | Discretionary Unit Fund Managers Ltd | 0.51 |
| 22 | Santander UK 10.375% Non Cumulative Preferred | 0.43 |
| 23 | Dialight Plc Ordinary 1.89p | 0.41 |
| 24 | LPA Group Plc Ordinary 10p | 0.38 |
| 25 | Coral Products Plc Ordinary 1p | 0.06 |
| 26 | Chamberlin Plc Ordinary 25p | 0.06 |
