Portfolio Details as of 03/31/2016

Weighted Average Market Cap.
99.0 B
P/E Ratio
16.7x
P/B Ratio
2.1x
Portfolio Turnover Ratio as of 10/30/2015
66.4%
Number of Holdings
136
Total Net Assets
$6.14 B

Portfolio Positioning as of 03/31/2016

  • Chevron Corp., an energy company, is the portfolio’s largest overweight position, relative to its benchmark, the Russell 1000® Value Index, as of March 31, 2016. We believe that Chevron’s focus on responsible capital spending, shareholder-friendly payout policies, and low-cost assets will likely result in a higher valuation going forward.
  • The Boeing Company, a commercial aircraft company, is another overweight position.  We believe investors are overly negative on earnings prospects for Boeing and the stock is attractively valued relative to peers.
  • The portfolio is overweight, relative to its benchmark, in tobacco company Reynolds American Inc. We believe Reynolds American is currently undervalued based on improving capital return prospects and strong pricing power. 

Sector Allocationas of 03/31/2016

Sector Weighting Fund Change from Previous Quarter
Consumer Discretionary arrowUp1.6%
Energy arrowUp0.6%
Health Care arrowDown1.7%
Financials arrowUp1.7%
Industrials arrowUp0.7%
Consumer Staples arrowDown1.4%
Materials arrowUp1.0%
Information Technology arrowDown2.4%
Telecommunication Services arrowDown1.1%
Bonds 0.0%
Utilities arrowUp1.0%

Attribution Analysis 

Affiliated Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Strongest & Weakest Performers

Strongest Performers

Holding Contribution
AT&T, Inc. 0.3%
Chevron Corp. 0.3%
Whirlpool Corp. 0.2%
Verizon Communications, Inc. 0.2%
Target Corp. 0.2%

Weakest Performers

Holding Contribution
JPMorgan Chase & Co. -0.3%
Pfizer, Inc. -0.2%
Eli Lilly & Co. -0.2%
Fifth Third Bank -0.2%
Intel Corp. -0.2%
Fund Dividends & Cap Gains next tab

Contact a Representative