Expectations for the upcoming reporting season are at the highest they have been in 3 years. In our experience, heightened expectations often lead to disappointments. This is particularly the case for industrials with global operations which in the last 6 months have had to contend with the impact of Brexit and the US elections. Given the market’s propensity to punish poor performers, we believe this reporting season will be more about avoiding the losers than picking the winners. DMX Capital Partners is positioned in high quality smaller companies which all provided positive business updates during the November AGM season. In this article we reveal a few of these core holdings with tailwinds behind them and significant upside potential in our opinion.