Portfolio Details as of 10/30/2015

Total Net Assets
$2.29 B
Number of Holdings
Weighted Average Market Cap.
11.3 B
P/B Ratio
Portfolio Turnover Ratio as of 12/31/2014
P/E Ratio

Portfolio Positioning as of 09/30/2015

  • The consumer discretionary sector is the portfolio’s largest overweight position, relative to its benchmark, the Russell Midcap® Value Index. The portfolio is broadly diversified across hotels and leisure, housing, and housing related, while remaining underweight retail and media industries.
  • The portfolio is overweight the financials sector, relative to its benchmark. The portfolio is diversified across the banking, capital market, and insurance industries, while remaining underweight REITs.
  • The utilities sector remains one of the portfolio’s largest underweight positions due to concerns over rising interest rates, expensive valuations, and the potential ramifications of the rise of distributed generation.
  • The portfolio is, relative to its benchmark, broadly underweight the materials sector, with the exception of the containers and packaging industry. The sector continues to be affected by global overcapacity and falling prices.
  • We believe that the economic outlook for the United States remains favorable, relative to most global economies, yet we remain cautious, given the continued volatility and uncertainty around macroeconomic and geopolitical issues. We continue to closely monitor risks to the portfolio, including central bank policy decisions, commodity price instability, and currency/interest rate volatility. 

Sector Allocationas of 10/30/2015

Sector Weighting Fund Change from Previous Quarter
Consumer Discretionary arrowUp0.3%
Materials arrowDown0.1%
Financials arrowDown1.0%
Health Care arrowUp0.1%
Information Technology arrowUp0.2%
Consumer Staples arrowDown0.2%
Energy arrowUp0.8%
Utilities arrowDown0.3%
Telecommunication Services 0.0%
Industrials arrowDown0.3%

Attribution Analysis 

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

Strongest & Weakest Performers

Strongest Performers

Holding Contribution
NVIDIA Corp. 0.3%
Hartford Financial Services Group, Inc. 0.3%
Edison International 0.2%
Motorola Solutions, Inc. 0.2%
PPL Corp. 0.2%

Weakest Performers

Holding Contribution
Mallinckrodt plc -0.8%
Huntsman Corp. -0.5%
Triumph Group, Inc. -0.4%
WestRock Co. -0.4%
Lincoln National Corp. -0.4%
Fund Dividends & Cap Gains next tab

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