Portfolio Details as of 12/31/2015

Weighted Average Market Cap.
6.5 B
P/E Ratio
21.6x
P/B Ratio
2.3x
Portfolio Turnover Ratio as of 10/30/2015
46.9%
Number of Holdings
76
Total Net Assets
$2.57 B

Portfolio Positioning as of 12/31/2015

  • The financials sector remains the portfolio’s largest absolute weight. Our preference is to diversify sector exposure broadly across banks, capital markets, insurance, and high-quality REITs, given the uncertainty in interest rates.
  • The health care sector still remains underweight compared to the portfolio’s benchmark, the Russell 2500™ Index. We believe the U.S. Health Care Reform has been reflected in stocks. As a result we are targeting stocks with company specific catalysts.
  • The consumer discretionary sector remains underweight compared to the portfolio’s benchmark. We remain cautious about the consumer, as mall traffic remained subdued, despite lower gas prices. 
  • The portfolio remains underweight the industrials sector relative to its benchmark, as concerns around commodities and growth in China continue to weigh on stocks in the sector.
  • 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 continued global volatility and uncertainty.

Sector Allocationas of 12/31/2015

Sector Weighting Fund Change from Previous Quarter
Utilities 0.0%
Health Care arrowDown0.3%
Information Technology arrowUp0.5%
Energy arrowUp0.1%
Telecommunication Services arrowUp0.3%
Materials 0.0%
Financials arrowDown1.6%
Consumer Staples arrowDown0.4%
Consumer Discretionary arrowUp0.8%
Industrials arrowDown0.4%

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
Jarden Corp. 0.3%
Booz Allen Hamilton Holding Corp. 0.3%
New STERIS Ltd. 0.3%
Berry Plastics Group, Inc. 0.2%
ARRIS International plc 0.2%

Weakest Performers

Holding Contribution
Rice Energy, Inc. -0.4%
Akamai Technologies, Inc. -0.3%
Steve Madden Ltd. -0.3%
Red Robin Gourmet Burgers, Inc. -0.2%
Carrizo Oil & Gas, Inc. -0.2%
Fund Dividends & Cap Gains next tab

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