Portfolio Details as of 05/29/2015

Total Net Assets
$3.06 B
Number of Holdings
Weighted Average Market Cap.
6.5 B
P/B Ratio
Portfolio Turnover Ratio as of 10/31/2014
P/E Ratio

Portfolio Positioning as of 03/31/2015

  • The financials sector remains the portfolio’s largest absolute weight, despite a decreased exposure during the quarter. Our preference is to broadly diversify sector exposure across banks, capital markets, insurance, and REITs, given the murkiness in interest-rate outlook.
  • We increased portfolio exposure to the industrials sector during the period by adding exposure to companies that are expected to realize benefits from lower energy prices.
  • The portfolio’s exposure to the information technology sector was slightly trimmed, as we took profits on select holdings. We favor companies that benefit from increasing broadband usage resulting from strong consumer demand.
  • We believe that the economic outlook for the United States remains favorable among developed countries. Furthermore, we expect the Federal Reserve to begin gradually raising interest rates at some point during 2015, provided that the economy continues to exhibit signs of strength and inflation remains at an acceptable level. We are increasingly confident in European stability, given the accommodative monetary measures taken by the European Central Bank.

Sector Allocationas of 05/29/2015

Sector Weighting Fund Change from Previous Quarter
Financials arrowUp1.0%
Health Care arrowUp0.8%
Utilities 0.0%
Energy arrowUp0.3%
Information Technology arrowDown0.5%
Telecommunication Services arrowUp0.1%
Materials arrowUp0.2%
Consumer Staples arrowDown0.1%
Consumer Discretionary arrowDown1.1%
Industrials arrowDown1.4%

Attribution Analysis 

Value Opportunities Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Strongest & Weakest Performers

Strongest Performers

Holding Contribution
Akamai Technologies, Inc. 0.4%
MAXIMUS, Inc. 0.3%
Pinnacle Foods Group LLC 0.3%
Urban Outfitters, Inc. 0.3%
Synaptics, Inc. 0.3%

Weakest Performers

Holding Contribution
Albemarle Corp. -0.2%
Rovi Corp. -0.2%
Helix Energy Solutions Group, Inc. -0.2%
Allegheny Technologies, Inc. -0.2%
Lumber Liquidators, Inc. -0.2%
Fund Dividends & Cap Gains next tab

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