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Asset Class / Style:
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U.S. Equity / Value
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Market Capitalization:
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Large Cap
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Benchmark:
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Russell 1000® Value Index
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Portfolio Assets:
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$1,614 MM as of 6/30/2010
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Overview |
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The large cap value process uses a combination of quantitative and qualitative methods to build a portfolio of securities designed to outperform the Russell 1000® Value Index. Domestic large capitalization portfolios are invested using a relative value investment style. The quantitative four-factor screen is used to narrow the universe of +/- 1,000 stocks with market capitalizations over $3 billion to the 250 companies that are most attractive based on expected return. Fundamental analysis is then used to build a portfolio of approximately 50-65 large capitalization stocks. Sector weightings must be +/- 10% vs. the benchmark weightings (Russell 1000® Value Index). The investment team employs a rigorous sell discipline.
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Top Holdings*
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As of 6/30/2010
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General Electric Co.
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4.4%
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JPMorgan Chase & Co.
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4.2%
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Pfizer Inc.
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4.2%
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Johnson & Johnson
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3.8%
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Occidental Petroleum Corp.
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3.7%
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Chevron Corp.
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3.7%
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Merck & Co Inc
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3.5%
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AT&T Inc.
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3.3%
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PG&E Corp.
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3.1%
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Southern Co.
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2.6%
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Sector Weightings*
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As of 6/30/2010
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Financial Services
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20.4%
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Health Care
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17.6%
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Producer Durables
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14.1%
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Energy
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11.1%
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Utilities
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11.1%
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Consumer Discretionary
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10.9%
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Technology
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8.7%
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Consumer Staples
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3.4%
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Materials & Processing
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2.7%
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* 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.
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Disclosure
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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.
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