Portfolio Details as of 03/31/2015

Weighted Average Market Cap.
11.9 B
P/E Ratio
17.5x
P/B Ratio
1.8x
Portfolio Turnover Ratio as of 07/31/2013
90.3%
Number of Holdings
111
Total Net Assets
$886.04 M

Portfolio Positioning as of 03/31/2015

  • XL Group plc, a global property and casualty insurer and reinsurer, is the portfolio’s largest overweight position relative to its benchmark, the Russell Midcap® Value Index, as of March 31, 2015.  We believe that the stock is attractively valued in light of management’s ability to cut expenses while maintaining revenue.
  • Whirlpool Corp., a manufacturer of home appliances, is another overweight position.  The firm is well positioned within growing Latin American economies, and also is benefiting from an improving U.S. housing market and industry consolidation.
  • The portfolio also has an overweight, relative to its benchmark, in Community Health Systems Inc., an owner and operator of hospitals. We believe that the uncertainty surrounding the Affordable Care Act has created an attractive price for the stock.  In addition, it is our view that Community’s earnings likely will benefit from increased coverage and reduced bad debt from consumers.

Sector Allocationas of 03/31/2015

Sector Weighting Fund Change from Previous Quarter
Financials arrowUp0.5%
Utilities arrowDown1.5%
Consumer Discretionary arrowUp0.1%
Industrials arrowDown0.2%
Energy 0.0%
Consumer Staples arrowDown0.1%
Materials arrowUp0.2%
Information Technology 0.0%
Telecommunication Services 0.0%
Health Care arrowUp0.9%

Attribution Analysis 

Calibrated Mid 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
Kohl's Corp. 0.6%
PBF Energy, Inc. 0.4%
Mallinckrodt plc 0.4%
Skyworks Solutions, Inc. 0.3%
CIGNA Corp. 0.2%

Weakest Performers

Holding Contribution
Rowan Cos., Inc. -0.4%
Bunge Ltd. -0.2%
SCANA Corp. -0.2%
SanDisk Corp. -0.1%
Entergy Corp. -0.1%
Fund Dividends & Cap Gains next tab

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