Portfolio Details as of 05/29/2015

Weighted Average Market Cap.
90.8 B
P/E Ratio
P/B Ratio
Portfolio Turnover Ratio as of 07/31/2014
Number of Holdings
Total Net Assets
$505.17 M

Portfolio Positioning as of 03/31/2015

  • Allstate Corp., a provider of insurance and investment products, is the portfolio’s largest overweight position relative to its benchmark, the Russell 1000® Value Index, as of March 31, 2015.  We believe that investors are undervaluing the company relative to its peers, and that superior underwriting likely will lead to higher-than-expected earnings.
  • Chevron Corp., an integrated energy company, is an overweight position relative to the portfolio’s benchmark. We do not believe that investors appreciate how well positioned the company is to benefit from the North American onshore oil and gas renaissance.
  • The portfolio also has an overweight position relative to its benchmark in Pfizer Inc., a research-based, global pharmaceutical company.  We believe Pfizer has an underappreciated pipeline, particularly in immune-oncology, leading it to be undervalued, particularly when compared with other big pharmaceutical companies.

Sector Allocationas of 05/29/2015

Sector Weighting Fund Change from Previous Quarter
Information Technology arrowUp0.6%
Utilities arrowDown0.1%
Consumer Discretionary arrowDown0.5%
Financials arrowUp0.2%
Industrials arrowUp0.4%
Telecommunication Services arrowUp0.1%
Energy 0.0%
Health Care arrowUp0.2%
Materials arrowDown0.4%
Consumer Staples arrowDown0.4%

Attribution Analysis 

Calibrated Large Cap Value Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Strongest & Weakest Performers

Strongest Performers

Holding Contribution
Pfizer, Inc. 0.5%
Valero Energy Corp. 0.5%
Aetna, Inc. 0.4%
Huntington Ingalls Industries, Inc. 0.1%
General Motors Co. 0.1%

Weakest Performers

Holding Contribution
Intel Corp. -0.3%
Hewlett-Packard Co. -0.2%
Chevron Corp. -0.2%
Exxon Mobil Corp. -0.2%
Procter & Gamble Co. -0.2%
Fund Dividends & Cap Gains next tab

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