Another top holding, Tomra (TOM.Norway), is on the cutting edge when it comes to reducing food waste and collecting and sorting recycling. The Norwegian company already has an established niche making sensor-based equipment used to sort food, “but they are also developing technology that can detect bacteria and sort for freshness,” Kornitzer says. Tomra also makes reverse vending machines that use automation to collect and sort recyclables—a segment that accounts for half the company’s revenue.

The fund has owned Tomra since its inception in 2007, when the stock traded around $7 a share and 16 times forward earnings. The stock might look pricey trading above $27 and at 42 times earnings, but Kornitzer says Tomra is can capture growing demand for waste-reduction technology.

https://www.barrons.com/articles/how-an-international-stock-fund-finds-its-winning-recipe-51568808036