Portfolio Details as of 03/31/2016

Weighted Average Market Cap.
6.6 B
P/E Ratio
P/B Ratio
Portfolio Turnover Ratio as of 10/30/2015
Number of Holdings
Total Net Assets
$2.58 B

Portfolio Positioning as of 03/31/2016

  • The financials sector remains the portfolio’s largest absolute weight. Our preference is to diversify sector exposure broadly across banks, 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 but are continuously evaluating opportunities, as mall traffic remains subdued, despite lower gas prices. 
  • The portfolio remains underweight the industrials sector relative to its benchmark, yet we are cautiously adding exposure due to lingering concerns as commodity prices 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 03/31/2016

Sector Weighting Fund Change from Previous Quarter
Energy arrowUp1.2%
Industrials arrowUp1.1%
Consumer Discretionary arrowDown0.9%
Information Technology arrowUp0.4%
Utilities arrowDown1.1%
Telecommunication Services arrowDown0.2%
Materials arrowUp0.3%
Consumer Staples arrowUp0.2%
Financials arrowDown1.5%
Health Care arrowDown0.3%

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
Reliance Steel & Aluminum Co. 0.4%
American Water Works Co., Inc. 0.4%
CMS Energy Corp. 0.3%
Steve Madden Ltd. 0.3%
EQT Corp. 0.3%

Weakest Performers

Holding Contribution
ARRIS International plc -0.4%
Citizens Financial Group, Inc. -0.3%
Raymond James Financial, Inc. -0.3%
Snap-on, Inc. -0.3%
Signature Bank -0.2%
Fund Dividends & Cap Gains next tab

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