Listed investment company AMCIL has reported a sharp fall in net profit and cut its dividend for the year to June following unrealised losses in its share portfolio. The concentrated investor holds 33 stocks in its fund, less than half the number held by LICs such as Djerriwarrh and Australian Foundation Investment Company. This approach drove its portfolio outperformance, helping it avoid widespread equity carnage as it lost 9.4 per cent for the year to June against a 20.1 per cent drop for the S&