(PUB) Investing 2015

39

Current Portfolio Style

Costs

Operations

Current

Average Regional Exposure (% of Assets)

Total

Equity Price/ Market Style Cash Cap Box Flow ($Mil)

# of

Turn- Recent Composition

Sales

Total

UK/W. North Latin

Asia ex-

Hold-

over

(% of Assets)

Charge Expense NAV Assets

Europe Amer Amer Japan Japan Other ings % Cash Stock Bond Other % Ratio% ($)

($Mil)

Portfolio Manager (Tenure Years)

— 0.8 5,875 51 7 1 18 15 4.5 33,157 61 3 0 14 9 4.8 36,700 47 2 1 12 23 4.8 28,392 50 7 1 10 20 11.3 47,402 56 6 3 10 13 11.7 2,462 58 3 0 1 33 4 7 11.0 23,143 54 15 0 5 10 4.9 41,151 66 1 0 16 11 8.9 7,513 34 9 0 25 27 8.3 3,112 31 8 2 23 30 2.6 42,108 52 9 5 13 10 1 7 5.8 30,007 52 11 0 15 12 6.9 18,463 57 6 0 15 14 9.7 15,922 66 6 0 18 5 4.5 36,262 63 0 0 21 12 6.0 13,021 29 6 3 23 10 4.9 46,625 79 3 2 10 2 11.2 44,228 49 8 1 15 18 7.3 5,349 20 3 0 16 16 5.3 26,423 45 13 0 20 22 4.7 19,196 61 7 1 11 11 5 6.4 8,378 53 0 5 2 41 4.9 35,481 66 2 1 21 8 8.1 23,613 61 16 8 3 10 12.3 12,058 56 9 1 16 6 5.5 36,345 70 5 0 11 8 4 10.8 2,273 62 1 2 10 20 11.7 16,584 79 6 2 6 6 6.6 36,630 52 9 6 14 11 8.6 1,828 41 3 3 21 25 6.6 26,861 47 5 3 14 23 4.8 20,702 53 2 1 16 15 3.8 35,700 51 1 1 18 13 2.2 3,609 46 14 8 4 20 4.8 53,417 58 6 3 13 17 2.6 30,897 61 9 0 1 5 2 10.6 42,462 69 5 1 13 10 4.6 32,071 60 0 0 22 15 4.7 28,911 44 6 3 17 21 5.2 1,506 39 13 2 14 28 5.9 1,838 54 0 0 21 16 8 4.0 32,007 52 4 3 12 19 3.9 33,926 50 1 2 21 14 4.8 21,214 43 7 2 16 21 5.4 48,044 58 12 2 1 24 4 4 7 — 7.6 43,229 28 52 1 6 8 7.9 49,904 32 42 1 4 12 9.2 51,922 32 45 0 7 7 8.4 2,983 18 49 2 5 19 13.0 29,651 18 56 3 3 11 7 7 7 4 4 4 8 7 1 4

2 — 9 2 192 23 2 473 28 1 188 37 0 80 46 0 54 58 0 59 20 0 63 27 4 49 58 5 239 28 7 92 12 3 252 39 2 234 57 2 173 41 0 82 11 4 57 10 1 109 23 0 31 61 1 67 70 1 21 54 0 48 56 1 72 43 3 88 34 0 62 39 1 63 38 0 106 12 3 78 12 1 213 42 3 130 39 1 967 1 2 165 12

3 96 0 5 91 0 9 87 0 3 90 2 5 91 1 1 98 0 15 84 0 5 94 0 0 99 0 0 99 0 2 95 0 5 94 0 2 96 0 2 98 0 2 98 0 19 72 1 2 96 0 3 95 0 31 56 8 0 100 0 6 93 0 -3 102 0 2 98 0 1 97 0 3 91 0 3 96 1 4 96 0 1 99 0 2 95 0 3 94 3 4 95 0 8 91 0 5 84 3 8 92 0 1 98 0 23 76 0 0 97 0 0 98 0 0 94 0 0 98 0 6 92 0 2 96 0 4 93 0 0 94 0 2 98 0 3 96 0 4 91 1 4 93 0 3 93 0 6 92 0

1 — 1.35

— 1,685 —

AAIPX

4 NL 1.06 19.99 2,531 Management Team

0.83

AEPGX 7 IGAAX 4

3 5.75

51.37 133,736 Management Team

6 5.75 0.91 33.1 11,034 Management Team 4 NL 1.17 32.06 20,168 Management Team 1 Clsd 1.5 25.92 1,081 Hamker/Yockey (3.3/13.4) 1 Clsd 1.2 36.28 11,752 O’Keefe/Samra (8.6/12.7) 1 NL 1.17 15.9 7,155 Management Team 1 5.75 1.47 23.25 233 Olson/Waldburg (13.7/0.1)

ARTIX

ARTJX 8 ARTKX 4

CIVVX LAFAX

0.93 0.64 0.91 0.91

ACINX 8 DODFX 4

1 NL 3 Clsd 1 NL 1 NL

44.98 8,186 Egan/Mendes (12.1/12.1) 45.04 71,619 Management Team 38.09 26,221 William Bower (14.2) 42.01 11,426 William Kennedy (10.6)

FDIVX FIGRX FOSFX

1 NL 1.02 43.17 4,047 Vincent Montemaggiore (3.3)

0.2

FSIIX

1 NL

40.7 16,087 Management Team

SGOVX 4 HAINX 4 HLMNX 7

8 Clsd 1.16 23.52 14,980 Brooker, Jr./McLennan (5.2/6.7)

0.75

2 NL

71.88 50,465 Management Team

2 NL 1.16 18.95 5,030 Management Team

IVIOX

5 Clsd 1.26 17.58 3,855 de Lardemelle/de Vaulx (6.7/6.7)

JOHAX 7 MSILX 7

0 NL

1.3 21.51 2,789 Lees/Richyal (5.8/5.8)

1 NL 0.99 19.07 1,637 Management Team

LLINX ICEUX

1 NL 1.25 14.43 1,495 Management Team 0 NL 0.95 36.27 2,176 Management Team 1 NL 1.08 7.79 3,769 Management Team 6 NL 1.26 21.65 1,251 Benjamin Segal (9.9) 0 Clsd 0.95 25.21 30,647 Herro/Taylor (22.7/6.4) 0 Clsd 1.31 16.92 3,253 Herro/Manelli (19.6/4.0) 0 5.75 1.14 38.68 20,703 Dunphy/Evans (3.2/19.2) 3 NL 1.01 35.02 5,039 Management Team 1 NL 1.21 57.55 4,119 Justin Thomson (16.4)

EXWAX 7 NIQVX 7

OAKIX

OAKEX 5 OIGAX 7 UMBWX 4

PRIDX PRITX

0.83

0 NL

17.21 14,777 Richard Clattenburg (0.2)

0.85

TRIGX

2 126 45

1 NL

15.09 11,879 Jonathan Matthews (4.9)

TROSX 4

0 159

8

9 NL 0.84 10.33 10,881 Raymond Mills (8.4)

TAVIX

0 35 22 0 63 37

0 NL

1.4 16.62 251 Matthew Fine (3.4)

TGVAX 4 TBGVX 1

1 4.50 1.26 31.12 11,576 Fries/Wang (17.0/9.3) 0 NL 1.38 27.27 9,859 Management Team

0 110

4

USIFX

1 86 14

3 NL 1.16 30.9 3,703 Ling/Smith (5.7/12.9)

0.09 0.14 0.37

VTMGX 4 VFWAX 4 VFSVX 5

1 1395 4 2463

4 4

2 NL 5 NL 1 NL 2 NL 2 NL 3 NL 6 NL

13.29 53,033 Christine Franquin (2.2) 31.39 26,014 Ryan Ludt (6.7) 39.91 3,207 Michael Eyre (2.2) 18.44 2,754 Dobbs/Thomas (15.4/4.9) 23.65 23,600 Management Team 36.82 8,701 Management Team 28.08 162,672 Michael Perre (6.7)

2 3354 13 0 328 39 2 190 21 5 163 37

0.4

VINEX

0.47 0.44 0.14

VWIGX 7

VTRIX VTIAX JVIAX

3 5837

3

2 59 31

0 5.75 1.43 28.99 2,014 Rajiv Jain (13.2)

1 — 57 1 415 36 2 301 25 1 624 38 0 57 45

1 — 1.33

— 1,637 —

0.77 0.76

CWGIX 4 ANWPX 7 SMCWX 8 ARTRX 7

4 5.75 2 5.75

48.23 90,317 Management Team 39.17 60,914 Management Team

4 5.75 1.07 50.73 29,047 Management Team

2 NL

1.2 20.24 1,386 Management Team

Bold #  Cheapest Quintile

Equity Style Box Val BlndGrth

Lrg Mid Sm