Portfolio Details as of 10/30/2015

Total Net Assets
$3.68 B
Number of Holdings
Weighted Average Market Cap.
123.9 B
P/B Ratio
Portfolio Turnover Ratio as of 10/31/2014
P/E Ratio

Portfolio Positioning as of 9/30/2015

  • During the third quarter, we decreased the portfolio’s exposure to the health care sector, yet remain overweight the Russell 1000® Value Index. We favor more defensive companies with stock-specific catalysts.
  • In addition, we increased the portfolio’s exposure to the industrials sector, and remain overweight relative to the benchmark. Within the sector, we are focused on companies committed to unlocking value by reallocating capital to core competencies.
  • We increased the portfolio’s allocation to the information technology sector to an overweight position. We continue to favor companies that should benefit from an increase in technology infrastructure spending and information security.
  • The portfolio continues to be underweight the utilities and energy sectors, based on our fundamental and valuation analyses.
  • We expect continued market volatility due to muted growth and the uncertain macroeconomic and geopolitical backdrop, especially as structural concerns persist in China. Therefore, we continue to focus on U.S.-centric companies that have financial and capital management flexibility to compete strategically. As a result of this view, we increased attention to stock-specific decisions, near-term fundamentals, and rigorous execution of our buy/sell discipline.

Sector Allocationas of 10/30/2015

Sector Weighting Fund Change from Previous Quarter
Telecommunication Services arrowDown0.1%
Financials arrowDown0.6%
Information Technology arrowUp0.9%
Industrials arrowDown0.6%
Consumer Discretionary arrowDown0.5%
Materials arrowUp1.2%
Consumer Staples arrowDown0.4%
Health Care arrowDown0.9%
Utilities 0.0%
Energy arrowUp1.3%

Attribution Analysis 

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

Strongest & Weakest Performers

Strongest Performers

Holding Contribution
Hartford Financial Services Group, Inc. 0.3%
Vantiv, Inc. 0.3%
Alphabet, Inc. 0.3%
Activision Blizzard, Inc. 0.2%
Precision Castparts Corp. 0.1%

Weakest Performers

Holding Contribution
Marathon Oil Corp. -0.6%
Affiliated Managers Group, Inc. -0.5%
JPMorgan Chase & Co. -0.4%
Time Warner, Inc. -0.4%
Devon Energy Corp. -0.4%
Fund Dividends & Cap Gains next tab

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