|
|
 |
 |
|
Asset Class / Style:
|
U.S. Equity / Core
|
|
|
|
Market Capitalization:
|
Large Cap
|
|
|
|
Benchmark 1:
|
S&P 500 Index
|
|
|
|
Benchmark 2:
|
Russell 1000® Index
|
|
|
|
Portfolio Assets:
|
$199 MM as of 6/30/2010
|
|
|
|
|
|
Overview |
Our investment objective as value managers is to deliver excess returns, net of our fees, above our benchmarks, as consistently as possible. We attempt to uncover high-quality stocks that sell at temporary discounts to their fair or intrinsic values; own them in diversified portfolios; and sell them when they exceed fair value.
Domestic Large Cap Core portfolios are invested using a value investment style. The four-factor quantitative screen is used to narrow the large universe of stocks with market capitalizations greater than $3 billion to the 250 companies that are most attractive in each of the 9 economic sectors of the S&P 500. Fundamental analysis is then used to build a portfolio of approximately 50-65 large capitalization stocks. The investment team employs a rigorous sell discipline.
|
|
|
|
Top Holdings*
|
As of 6/30/2010
|
|
|
|
|
Siemens AG
|
|
3.2%
|
|
|
|
Cisco Systems Inc.
|
|
3.0%
|
|
|
|
International Business Machines Corp.
|
|
2.9%
|
|
|
|
Occidental Petroleum Corp.
|
|
2.5%
|
|
|
|
EMC Corp.
|
|
2.5%
|
|
|
|
Chubb Corp.
|
|
2.4%
|
|
|
|
Walt Disney Co.
|
|
2.3%
|
|
|
|
JPMorgan Chase & Co.
|
|
2.3%
|
|
|
|
EOG Resources Inc.
|
|
2.3%
|
|
|
|
Merck & Co Inc
|
|
2.2%
|
|
|
|
|
|
Sector Weightings*
|
As of 6/30/2010
|
|
|
|
|
Technology
|
|
19.2%
|
|
|
|
Producer Durables
|
|
16.5%
|
|
|
|
Financial Services
|
|
13.8%
|
|
|
|
Consumer Discretionary
|
|
12.8%
|
|
|
|
Energy
|
|
11.1%
|
|
|
|
Health Care
|
|
10.6%
|
|
|
|
Consumer Staples
|
|
7.0%
|
|
|
|
Utilities
|
|
4.7%
|
|
|
|
Materials & Processing
|
|
4.3%
|
|
|
|
|
|
|
* The portfolio is actively managed and holdings are subject to change, and should not be considered as investment recommendations to buy individual securities. Sector weights might not add up to 100.0% due to rounding.
|
|
|
|
|
|
|
|
|
|
Disclosure
|
|
The time-weighted Gross and Net performance stated above reflect the deduction of brokerage commissions and the reinvestment of dividends and other income. Gross performance does not include the deduction of investment management fees. The full disclosure statement is located at the top of the page in the "Additional Information" area.
|
|
|
|
|
