(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)

— 0.7 5,832 51 8 1 18 15 4.6 34,897 60 3 0 15 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 1 7 11.0 23,143 54 15 0 5 10 4.9 41,151 66 1 0 16 11 11.7 8,445 33 11 0 25 26 8.4 3,170 30 7 3 22 35 2.6 42,108 52 9 5 13 10 1 4 5.8 30,563 53 11 0 15 12 6.7 18,547 59 6 0 14 13 7.8 15,946 65 6 0 18 5 4.7 35,755 63 0 0 22 11 6.3 13,518 29 6 3 22 10 4.9 46,625 79 3 2 10 2 11.3 42,456 50 8 1 16 18 7.3 5,349 20 3 0 16 16 5.2 26,031 45 13 0 20 22 4.7 19,196 61 7 1 11 11 5 6.4 8,378 53 0 5 2 41 7.4 36,971 67 2 2 19 8 8.7 24,825 60 14 7 3 14 11.3 12,833 57 9 1 16 6 5.5 36,345 70 5 0 11 8 4 10.8 2,273 62 1 2 10 20 10.8 16,707 77 7 2 6 6 6.8 36,820 54 9 6 15 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 4.3 52,302 62 5 3 13 13 2.6 30,897 61 9 0 1 5 10.6 42,462 69 5 1 13 10 4 4.8 31,470 60 0 0 23 14 4.7 28,322 44 6 3 17 20 5.4 1,506 39 13 1 15 28 5.9 1,838 54 0 0 21 16 4.0 32,007 52 4 3 12 19 8 3.9 33,926 50 1 2 21 14 4.9 20,753 44 7 2 17 21 5.4 48,044 58 12 2 1 24 — 7.7 43,002 28 51 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 8.7 50,213 29 53 0 0 5 7 7 7 4 4 4 8 7 1 4 4 7

2 — 9 2 189 23 2 473 28 1 188 37 0 80 46 0 54 58 0 59 20 0 63 27 4 51 58 4 240 28 7 92 12 2 243 39 2 242 57 2 169 41 0 82 11 4 57 10 1 109 12 0 32 61 1 67 70 1 21 54 0 46 56 0 75 43 4 92 34 0 62 39 1 63 38 0 107 12 3 78 12 1 213 42 3 130 39 1 971 1 2 166 12

3 96 0 4 91 0 9 87 0 3 90 2 5 91 1 1 98 0 15 84 0 5 94 0 0 98 0 0 100 0 2 95 0 5 95 0 3 97 0 4 96 0 2 98 0 20 72 1 2 96 0 3 97 0 31 56 8 0 100 0 6 93 0 -3 102 0 3 97 0 2 98 0 2 92 0 3 96 1 4 96 0 2 98 0 0 98 0 3 94 3 4 95 0 8 91 0 5 84 3 1 95 0 23 76 0 0 97 0 0 99 0 0 95 0 0 99 0 6 92 0 2 96 0 4 93 0 1 94 0 2 98 0 2 96 0 4 91 1 4 93 0 3 93 0 6 92 0 13 87 0

1 — 1.35

— 1,653 —

AAIPX

4 NL 1.06 19.48 2,473 Management Team

0.83

AEPGX 7 IGAAX 4

3 5.75

50.42 131,684 Management Team

6 5.75 0.91 31.99 10,909 Management Team 4 NL 1.17 31.09 20,642 Management Team 1 Clsd 1.5 25.14 1,076 Hamker/Yockey (3.4/13.5) 1 Clsd 1.2 35.69 11,899 O’Keefe/Samra (8.7/12.7) 1 NL 1.17 15.43 7,000 Management Team 2 5.75 1.47 22.76 224 Olson/Waldburg-Wolfegg (13.7/0.2)

ARTIX

ARTJX 8 ARTKX 4

CIVVX LAFAX

0.93 0.64 0.91 0.91

ACINX 8 DODFX 4

0 NL 3 Clsd 0 NL 0 NL

43.52 7,907 Egan/Mendes (12.2/12.2) 43.75 71,487 Management Team 37.44 25,601 William Bower (14.2) 41.18 11,154 William Kennedy (10.7)

FDIVX FIGRX FOSFX

0 NL 1.02 42.34 4,142 Vincent Montemaggiore (3.4)

0.2

FSIIX

0 NL

39.54 15,759 Management Team

SGOVX 4 HAINX 4 HLMNX 7

8 Clsd 1.16 23.1 14,550 Brooker, Jr./McLennan (5.3/6.7)

0.75

2 NL

69.6 48,912 Management Team

0 NL 1.16 18.44 4,954 Management Team

IVIOX

5 Clsd 1.26 17.28 3,817 de Lardemelle/de Vaulx (6.7/6.7)

JOHAX 7 MSILX 7

0 NL

1.3 20.19 3,136 Lees/Richyal (5.9/5.9)

1 NL 0.99 18.47 1,578 Management Team

LLINX ICEUX

1 NL 1.25 14.17 1,449 Management Team 0 NL 0.95 34.92 2,111 Management Team 0 NL 1.08 7.58 3,223 Management Team 6 NL 1.26 21.19 1,243 Benjamin Segal (10.0) 0 Clsd 0.95 24.58 30,194 Herro/Taylor (22.7/6.5) 0 Clsd 1.31 16.46 3,180 Herro/Manelli (19.7/4.1) 0 5.75 1.14 37.65 20,323 Dunphy/Evans (3.2/19.2) 1 NL 1.01 33.69 4,779 Management Team 1 NL 1.21 57.03 4,281 Justin Thomson (16.5)

EXWAX 7 NIQVX 7

OAKIX

OAKEX 5 OIGAX 7 UMBWX 4

PRIDX PRITX

0.83

0 NL

16.79 14,889 Richard Clattenburg (0.2)

0.85

TRIGX

2 126 45

1 NL

14.71 12,071 Jonathan Matthews (5.0)

TROSX 4 TGVAX 4 TBGVX 1 VTMGX 4 VFWAX 4 VFSVX 5 USIFX

0 159

8

9 NL 0.84 10.06 11,059 Raymond Mills (8.5) 4 4.50 1.26 30.12 11,110 Fries/Wang (17.1/9.4) 0 NL 1.38 26.44 9,863 Management Team 3 NL 1.16 29.98 3,600 Ling/Smith (5.7/13.0)

0 75 37

0 110

8

1 86 14

0.09 0.14 0.37

1 1397 4 2464

4 4

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

12.76 53,037 Christine Franquin (2.3) 30.2 25,624 Ryan Ludt (6.8) 38.78 3,261 Michael Eyre (2.3) 18.23 2,823 Dobbs/Thomas (15.5/5.0) 22.97 23,675 Management Team 35.8 8,658 Management Team 27.04 166,691 Michael Perre (6.9)

2 3341 13 0 328 39 2 190 21

0.4

VINEX

0.47

VWIGX 7

0.44 0.14

VTRIX VTIAX JVIAX

5 163 37

3 5823

3

2 59 31

0 5.75 1.43 28.35 1,942 Rajiv Jain (13.3)

1 — 56 1 415 36 2 301 25 1 624 38 0 57 45 0 51 25

1 — 1.33

— 1,616 —

0.77 0.76

CWGIX 4 ANWPX 7 SMCWX 8 ARTRX 7 ARTGX 4

4 5.75 2 5.75

46.85 88,466 Management Team 38.28 59,708 Management Team

4 5.75 1.07 50.64 29,147 Management Team

2 NL

1.2 20.09 1,416 Management Team

0 Clsd 1.32 15.66 1,825 O’Keefe/Samra (7.5/7.5)

Bold #  Cheapest Quintile

Equity Style Box Val BlndGrth

Lrg Mid Sm