(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 6,030 51 8 1 18 15 4.8 34,684 61 3 0 15 9 7.8 36,610 47 3 1 14 22 5.8 28,807 50 8 3 11 18 9.5 43,333 60 6 4 9 14 12.4 2,748 57 2 0 1 31 1 7 7.1 23,256 56 12 0 6 11 5.8 39,969 66 2 0 15 11 11.8 8,810 33 11 0 24 25 9.0 3,034 30 7 3 22 34 6.0 45,637 42 8 6 13 10 1 7 9.7 29,841 52 11 0 15 12 8.4 17,966 60 6 0 15 12 9.8 15,214 65 6 0 19 5 5.6 34,362 63 0 0 22 11 6.4 13,264 28 6 3 22 10 11.8 21,809 38 18 1 8 7 7.9 49,739 76 5 2 10 2 11.2 41,838 50 8 1 16 18 7.3 5,349 20 3 0 16 16 6.7 26,859 41 12 0 18 22 5 7.3 18,506 60 7 1 11 12 3.1 7,429 47 0 4 3 37 7.5 37,373 65 2 2 19 7 10.4 25,701 59 13 9 3 15 11.7 13,302 58 8 1 15 7 4 4 6.3 35,691 65 5 0 14 8 9.1 2,254 60 1 2 10 20 9.9 16,363 77 7 2 6 6 9.6 1,835 39 2 3 21 25 8.4 28,238 48 6 3 14 23 6.1 20,462 56 2 1 17 15 6.0 35,513 59 2 1 18 13 1.4 3,238 41 15 8 3 22 4.3 48,769 65 4 3 14 11 5.9 30,573 60 8 1 1 6 2 10.6 42,462 69 5 1 13 10 5.6 30,233 59 0 0 23 14 5.4 27,597 44 6 3 17 21 5.6 1,486 39 12 2 15 27 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 5.5 20,359 44 7 3 17 22 16.6 50,355 60 12 1 2 24 4 4 7 — 8.6 42,225 28 51 1 6 8 8.4 51,289 32 42 1 4 13 9.2 52,006 31 45 0 8 6 9.1 3,192 18 48 2 4 17 18.3 31,262 16 55 3 5 12 7 7 7 4 4 1 8 7 1 4

2 — 9 2 188 23 2 464 28 2 185 29 0 81 46 0 51 58 0 56 20 0 62 27 6 50 58 3 241 28 7 89 12 2 240 39 2 235 57 2 168 41 0 46 22 0 92 11 5 56 10 1 109 23 0 33 61 1 68 70 1 23 54 0 45 56 0 67 43 4 93 34 0 72 39 1 62 38 1 107 12 1 216 42 3 130 39 1 966 1 2 163 12

4 96 0 4 92 0 7 88 1 3 92 1 2 98 1 5 93 0 15 85 0 4 94 0 0 99 0 0 100 0 2 94 0 5 95 0 3 97 0 3 97 0 1 98 0 21 70 1 25 72 0 4 96 0 2 98 0 31 56 8 5 93 0 8 92 0 8 91 0 2 98 0 1 99 0 2 93 0 4 95 0 7 93 0 2 98 0 5 91 2 3 97 0 6 94 0 4 93 2 6 89 5 1 96 0 22 76 0 0 97 0 1 98 0 1 96 0 2 97 0 6 92 0 2 96 0 4 93 0 1 96 0 0 100 0 2 96 0 3 92 1 3 93 0 3 90 0 6 93 0

0 — 1.35

— 1,652 —

AAIPX

4 NL 1.06 19.73 2,513 Management Team

0.83

AEPGX 7 IGAAX 4

3 5.75

50.48 132,120 Management Team

4 5.75 0.91 32.04 11,018 Management Team 0 NL 1.17 30.87 20,188 Management Team 2 Clsd 1.5 24.32 1,044 Hamker/Yockey (3.5/13.6) 0 Clsd 1.2 35.68 11,646 O’Keefe/Samra (8.7/12.8) 2 NL 1.17 15.66 7,173 Management Team 1 5.75 1.47 22.19 210 Olson/Waldburg-Wolfegg (13.8/0.2)

ARTIX

ARTJX 8 ARTKX 4

CIVVX LAFAX

0.93 0.64 0.91 0.91

ACINX 8 DODFX 4

0 NL 4 Clsd 0 NL 0 NL

42.75 7,685 Egan/Mendes (12.2/12.2) 43.03 69,668 Management Team 38.3 25,601 William Bower (14.3) 42.24 11,154 William Kennedy (10.7)

FDIVX FIGRX FOSFX

0 NL 1.02 43.29 4,142 Vincent Montemaggiore (3.5)

0.2

FSIIX

0 NL

40.2 15,759 Management Team

SGOVX 4

8 Clsd 1.16 22.76 14,344 Brooker, Jr./McLennan (5.4/6.8)

FMIJX

3 NL 0 NL

1.0 29.57 2,326 Management Team 69.57 48,876 Management Team 0.75

HAINX 4 HLMNX 7

0 NL 1.16 18.36 5,024 Management Team

IVIOX

5 Clsd 1.26 17.25 3,831 de Lardemelle/de Vaulx (6.8/6.8) 2 Clsd 1.3 20.25 3,336 Lees/Richyal (6.0/6.0) 1 NL 0.99 18.5 1,568 Management Team 1 NL 1.25 14.33 1,445 Management Team 0 NL 0.95 35.25 2,129 Management Team 0 NL 1.08 7.41 2,316 Management Team 6 NL 1.26 21.1 1,261 Benjamin Segal (10.1) 1 Clsd 0.95 24.81 30,678 Herro/Taylor (22.8/6.6) 0 Clsd 1.31 16.23 3,161 Herro/Manelli (19.7/4.2) 0 5.75 1.14 38.22 21,026 Dunphy/Evans (3.3/19.3) 2 NL 1.21 56.93 4,264 Justin Thomson (16.6)

JOHAX 7 MSILX 7

LLINX ICEUX

EXWAX 7 NIQVX 7

OAKIX

OAKEX 5 OIGAX 7

PRIDX PRITX

0.83

0 NL

16.91 14,600 Richard Clattenburg (0.3)

0.85

TRIGX

2 133 45

1 NL

14.86 11,832 Jonathan Matthews (5.1)

TROSX 4

0 162

8

1 NL 0.84 10.11 10,911 Raymond Mills (8.6)

TAVIX

0 39 22 0 72 37

0 NL

1.4 15.8 224 Matthew Fine (3.6)

TGVAX 4 TBGVX 1

3 4.50 1.26 30.7 11,174 Fries/Wang (17.2/9.5) 2 NL 1.37 26.87 9,509 Management Team

0 112

8

USIFX

1 86 17

3 NL 1.16 30.54 3,690 Ling/Smith (5.8/13.1)

0.09 0.14 0.37

VTMGX 4 VFWAX 4 VFSVX 5

1 1395 4 2465

4 4

1 NL 3 NL 1 NL 2 NL 2 NL 3 NL 3 NL

12.92 52,144 Christine Franquin (2.4) 30.03 25,505 Ryan Ludt (6.9) 37.77 3,328 Michael Eyre (2.4) 18.44 2,830 Dobbs/Thomas (15.6/5.1) 22.72 23,076 Management Team 35.75 8,473 Management Team 26.82 168,376 Michael Perre (6.9)

2 3372 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 57 31

0 5.75 1.43 29.44 1,975 Rajiv Jain (13.4)

1 — 55 0 399 36 2 315 25 1 642 38 0 51 45

1 — 1.33

— 1,614 —

0.77 0.76

CWGIX 4 ANWPX 7 SMCWX 8 ARTRX 7

4 5.75 4 5.75

47.63 89,527 Management Team 39.12 61,133 Management Team

6 5.75 1.07 50.37 29,177 Management Team

1 NL

1.2 20.2 1,434 Management Team

Bold #  Cheapest Quintile

Equity Style Box Val BlndGrth

Lrg Mid Sm