Portfolio Details as of 03/31/2016

Weighted Average Market Cap.
2.9 B
P/E Ratio
P/B Ratio
Portfolio Turnover Ratio as of 11/30/2015
Number of Holdings
Total Net Assets
$1.19 B

Portfolio Positioning as of 03/31/2016

  • The financials sector is an underweight relative to the portfolio’s benchmark, the Russell 2000® Index. Our preference is to diversify the portfolio’s sector exposure broadly across banks, insurance, and high-quality REITs, given the uncertainty in interest rates.
  • We trimmed the portfolio’s exposure to the consumer discretionary sector, and remain underweight the benchmark. We are cautious about the sector, given lofty valuations. 
  • We increased the portfolio’s weight in the energy sector. We are adding exposure to better capitalized companies with less risk
  • We believe that the economic outlook for the United States remains favorable among developed countries. We remain cautious toward stocks with significant international exposure, given the continued volatility and uncertainty globally.

Sector Allocationas of 03/31/2016

Sector Weighting Fund Change from Previous Quarter
Materials arrowDown1.0%
Consumer Discretionary arrowDown1.6%
Health Care arrowDown0.7%
Industrials arrowUp2.6%
Energy arrowUp0.8%
Consumer Staples arrowUp1.8%
Utilities arrowUp2.3%
Information Technology arrowUp0.6%
Telecommunication Services arrowUp0.1%
Financials arrowDown3.5%

Attribution Analysis 

Small 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
CoreSite Realty Corp. 0.4%
Littelfuse, Inc. 0.3%
Gibraltar Industries, Inc. 0.3%
Parsley Energy, Inc. 0.3%
IDACORP, Inc. 0.3%

Weakest Performers

Holding Contribution
KapStone Paper and Packaging Corp. -0.8%
Kennedy-Wilson Holdings, Inc. -0.4%
ARRIS International plc -0.4%
Signature Bank -0.3%
Western Alliance Bancorp -0.3%
Fund Dividends & Cap Gains next tab

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