(PUB) Investing 2015

29

Current Portfolio Style

Costs

Operations

Current Equity Style Box

Average Market Cap ($Mil)

Total # of Hold- ings

Recent Composition (% of Assets) Sales Charge % Cash Stock Bond Other Foreign

Price/ Earn Ratio

Price/ Book Ratio

Turn- over %

Total Assets ($Mil)

Top Three Sectors (% of Stock)

Expense Ratio %

NAV ($)

Portfolio Manager (Tenure Years)

— 17.1 2.1 83,289 y 20

d 14 a 11 — 56 2 97 0 1

6 — 1.09 — 2,415 —

AAGPX 1 14.5 1.7 58,982 y 26 TWEIX 1 18.6 2.3 53,542 s 18 TWVLX 1 17.0 1.8 49,487 y 23 AMRMX 1 17.9 3.0 63,655 d 19 AWSHX 4 18.2 2.9 88,221 p 19 ARTLX 1 15.4 1.4 25,712 a 23 AUXFX 1 17.8 2.4 49,890 s 27 GSFTX 4 18.2 2.9 92,054 y 16 DHLAX 4 16.3 2.1 59,084 y 26 DODGX 4 16.9 1.9 65,810 y 24 BVEFX 1 17.5 2.0 35,388 y 20

d 15 a 11 208 29 4 96 0 0 15 NL o 17 y 17 83 57 1 75 2 22 o 15 d 13 138 49 3 97 0 0 p 18 a 10 254 16 7 89 1 3 d 14 y 14 184 19 3 96 0 1 y 19 o 18 38 53 7 88 0 5 a 17 p 14 59 41 3 97 0 0 d 15 p 14 92 19 2 97 0 1 d 16 a 15 51 24 0 100 0 0 d 25 y 19 117 9 6 94 0 0 13 NL 2 NL 4 NL a 22 d 18 69 17 0 100 0 0 11 NL d 15 o 12 133 52 3 96 0 0 10 NL p 13 d 12 249 40 3 92 1 3 10 NL d 16 a 13 152 19 9 84 3 4 18 5.75 a 16 o 15 27 37 0 68 0 32 12 NL 6 NL 5 NL 5 5.75 7 5.75 8 NL t 15 u 10 33 2 13 75 2 10 4 NL

0.94 28.45 11,772 Management Team 0.93 8.81 9,674 Management Team 0.98 8.71 3,743 Management Team 0.59 37.55 37,028 Management Team 0.6 41.43 78,818 Management Team

0.98 13.65 1,275 Management Team

1.25 20.89 0.93 19.4

282 J. Jeffrey Auxier (15.8) 390 Management Team

0.77 19.09 9,066 Management Team

0 5.00 1.04 23.36 3,446 Management Team

0.52 183.73 60,552 Management Team 1.06 35.33 5,583 Bruce Berkowitz (15.4) 0.63 27.03 5,506 Scott Offen (3.6) 0.69 58.69 9,163 Management Team 1.1 30.66 16,769 Management Team

1 10.6 0.9 31,096 y 74 1 16.9 2.2 68,338 y 24 1 16.3 2.0 54,696 y 26 1 15.9 1.7 39,649 y 24

FAIRX FEQTX FEQIX TESIX

GOODX 2 17.3 0.9 4,198 y 37 ACSTX 1 15.7 1.6 58,131 y 26

1.1 23.37

307 Pitkowsky/Trauner (4.1/4.1)

o 16 t 16 82 11 6 94 0 0 13 5.50 0.82 26.13 13,864 Management Team d 15 a 12 92 31 2 98 0 0 12 5.50 0.84 27.29 9,167 Management Team

1 16.3 1.7 61,280 y 31

ACGIX

JVAAX 1 16.0 1.8 29,882 y 30

t 17 d 11 117 36 10 90 0 0 t 16 d 15 43 58 1 99 0 0 d 20 a 16 33 65 2 98 0 0

1 5.25 1.27 30.29 11,181 Management Team

4 17.4 2.1 54,767 y 20 4 17.1 2.2 68,104 y 20 1 17.8 2.2 67,790 d 27

ICAEX

8 NL

0.89 53.15 1,050 Management Team

ICSLX JPLTX

7 NL

0.9 47.35 4,310 Management Team

y 22 s 11 81 34 4 96 0 0 10 NL

0.85 16.44

175 Perkins/Preloger (6.4/6.4)

0.35 15.57 5,080 Management Team 0.92 50.33 2,448 Management Team

SFLNX 1 17.2 2.2 57,318 o 14 SSHFX 1 16.1 1.8 44,892 y 27 PRFDX 1 16.5 2.0 45,007 y 19

d 13 a 13 624 14 1 98 0 1

0 NL

a 22 d 14 39 47 5 95 0 0 11 NL

0.66

t 15 p 13 119 10 4 94 1 1 d 21 p 17 114 54 1 99 0 0 a 18 p 13 56 17 0 100 0 0 p 19 a 18 34 16 12 88 0 0 y 14 a 14 438 12 0 100 0 0 d 16 p 12 214 57 1 99 0 0 d 16 a 11 318 6 0 100 0 0 d 17 a 14 270 27 3 97 0 0 a 19 p 18 — 70 2 98 0 0 p 28 t 18 40 30 0 91 6 3 t 20 p 18 103 73 0 99 0 1 t 20 d 16 72 55 3 97 0 0 d 19 a 17 66 11 1 99 0 0 p 21 a 12 91 13 1 98 0 1 t 18 p 11 59 63 0 99 0 1 a 23 p 21 55 45 1 99 0 0 a 16 p 16 58 52 3 97 0 0 a 19 y 14 47 17 0 100 0 0 a 20 d 13 205 17 0 100 0 0 a 25 t 17 73 17 20 80 0 1 t 25 p 17 40 6 9 91 0 0 y 16 a 15 179 27 1 98 1 0

5 NL

33.0 28,736 Brian Rogers (29.6)

1 14.6 1.9 44,755 y 23 1 16.5 2.1 45,078 y 24

TRVLX TGIGX

3 NL 8 NL 2 NL

0.82 35.85 23,189 Mark Finn (5.4) 1.14 17.56 1,119 Diane Jaffee (13.5)

TORYX 1 15.4 2.0 42,688 y 22

1.15 48.82

422 Fialco/Torray (7.1/24.4)

0.29 31.83 19,249 Management Team

1 17.2 2.5 78,291 y 17

a 13 p 13 188 33 2 98 0 0 10 NL

VEIPX

0.18

VHDYX 1 17.4 2.4 75,749 s 14 VUVLX 1 15.7 1.8 32,283 y 24

1 NL

27.6 15,634 Michael Perre (8.5)

0.29 18.01 1,275 Management Team 0.09 33.45 38,375 Gerard O’Reilly (20.4)

0 NL 1 NL 9 NL

1 16.3 2.0 74,478 y 22

VVIAX

0.36 0.38

VWNFX 1 15.2 1.9 62,409 y 22 VWNDX 1 15.9 1.8 34,973 y 26

38.4 50,260 Management Team 22.4 18,607 Management Team

a 18 d 17 139 38 2 97 0 1 15 NL

— 24.0 3.8 9,700 t 19

5 — 1.28 — 1,318 —

AKREX 7 24.9 3.3 16,725 y 29 TWHIX 8 25.9 4.3 12,443 a 21 ARTMX 8 28.0 4.6 13,165 a 34 BARAX 8 29.6 4.3 9,364 p 25 BGRFX 8 25.9 3.4 4,466 t 23 BUFMX 8 27.0 3.4 7,415 t 27 CIPMX 5 19.5 2.7 6,722 d 25 ACTWX 8 23.4 3.0 5,091 p 25 ACRNX 8 22.9 2.8 3,933 p 27 BIOPX 8 56.0 4.8 8,210 a 44

4 NL 6 NL

1.35 23.55 3,943 Management Team 1.0 25.45 5,932 Hollond/Walsh (8.2/7.2) 1.2 47.63 9,560 Management Team 1.31 66.09 2,802 Andrew Peck (11.8) 1.29 74.58 7,885 Ronald Baron (20.4)

5 Clsd

1 NL 4 NL 8 NL 6 NL 1 NL 7 NL 3 NL 6 NL 4 NL 7 NL

1.35 19.27 1.01 18.85 1.3 15.12 0.84 23.47

379 Michael Lippert (9.2) 530 Carlsen/Male (0.3/13.4) 698 Management Team

616 Chalupnik/Szafranski (4.1/0.1)

0.79 34.01 12,469 Management Team

8 17.8 3.2 5,595 d 32

ETGLX

1.45 29.83 1,785 Barksdale/Kuruvilla (4.6/6.9) 1.18 67.83 1,017 Fox/Putnam (15.1/28.4)

FAMVX 8 21.2 2.5 11,272 y 29 FMCSX 8 20.7 2.4 6,855 p 18

0.81 40.46 8,331 John Roth (4.2)

17.3 1.8 53,222 23.2 4.3 12,463

Equity Style Box Val BlndGrth

Sectors h Cyclical r Basic Materials t Consumer Cyclical y Financial Services u Real Estate

Bold #  Cheapest Quintile

j Sensitive i Communication Svs o Energy

k Defensive s Consumer Def d Healthcare f Utilities

Lrg Mid Sm

p Industrials a Technology