Portfolio Details as of 12/31/2015

Weighted Average Market Cap.
3.1 B
P/E Ratio
P/B Ratio
Portfolio Turnover Ratio as of 11/28/2014
Number of Holdings
Total Net Assets
$1.21 B

Portfolio Positioning as of 12/31/2015

  • The financials sector remains a large overweight position relative to the portfolio’s benchmark, the Russell 2000® Index. Our preference is to diversify the portfolio’s sector exposure broadly across banks, capital markets, 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 and still remain overweight in the materials and energy sectors.
  • 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 12/31/2015

Sector Weighting Fund Change from Previous Quarter
Materials arrowUp1.8%
Health Care arrowUp1.3%
Financials arrowDown1.3%
Energy arrowUp1.3%
Industrials arrowUp0.1%
Telecommunication Services arrowUp0.5%
Consumer Staples arrowDown3.5%
Information Technology arrowDown0.2%
Utilities arrowUp0.2%
Consumer Discretionary arrowDown1.5%

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
Francesca's Holdings Corp. 0.5%
Core-Mark Holding Co., Inc. 0.4%
Diamond Foods, Inc. 0.4%
KapStone Paper and Packaging Corp. 0.4%
Western Alliance Bancorp 0.3%

Weakest Performers

Holding Contribution
Mentor Graphics Corp. -0.6%
Rice Energy, Inc. -0.4%
Carrizo Oil & Gas, Inc. -0.3%
Multi-Color Corp. -0.2%
South State Corp. -0.2%
Fund Dividends & Cap Gains next tab

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