Portfolio Details as of 12/31/2015

Weighted Average Market Cap.
11.1 B
P/E Ratio
P/B Ratio
Portfolio Turnover Ratio as of 12/31/2014
Number of Holdings
Total Net Assets
$2.18 B

Portfolio Positioning as of 12/31/2015

  • The information technology sector is the portfolio’s largest overweight position, relative to its benchmark, the Russell Midcap® Value Index. The portfolio is overweight communication services and IT services, while remaining underweight the software industry. 
  • The portfolio, relative to its benchmark, is overweight the consumer discretionary sector. The portfolio is overweight hotels and leisure, housing, and housing related, while remaining underweight retail and media industries. 
  • The industrials sector remains one of the portfolio’s largest underweight positions, due to deteriorating fundamentals in companies with exposure to weak commodity end-markets. Within industrials, the portfolio is overweight the aerospace and defense industry. 
  • The portfolio is, relative to its benchmark, underweight the materials sector, with the exception of the containers and packaging industry. The sector continues to be affected by global overcapacity and weak prices. 
  • We believe that the economic outlook for the United States remains muted, but favorable relative to most global economies, 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 12/31/2015

Sector Weighting Fund Change from Previous Quarter
Information Technology arrowUp1.5%
Industrials arrowDown0.5%
Consumer Discretionary arrowDown0.1%
Health Care arrowUp0.3%
Financials arrowDown0.4%
Energy arrowUp0.6%
Utilities arrowUp0.1%
Consumer Staples arrowDown1.2%
Telecommunication Services 0.0%
Materials 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. 0.5%
Orbital ATK, Inc. 0.4%
Harris Corp. 0.3%
Albemarle Corp. 0.3%
MGM Resorts International 0.3%

Weakest Performers

Holding Contribution
PVH Corp. -0.4%
Kennametal, Inc. -0.3%
Alere, Inc. -0.2%
Noble Energy, Inc. -0.2%
EQT Corp. -0.2%
Fund Dividends & Cap Gains next tab

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