(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)

1.8 81,571 y 21 1.6 65,282 y 27 1.4 50,221 y 27 1.9 46,420 s 18 1.5 47,305 y 23 2.6 61,194 p 19 2.5 79,745 p 18 1.0 25,938 a 27 2.1 51,325 s 28 1.8 41,723 y 21 2.6 84,312 y 17 2.0 58,392 y 27 1.7 61,792 y 26 1.1 12,043 y 58 2.0 68,418 y 26 1.8 55,576 y 24 1.5 37,447 a 20 1.5 38,791 y 25 1.3 52,624 y 30 2.0 28,519 s 31 1.4 52,980 y 33 1.3 29,090 y 32 1.9 65,971 y 25 1.9 54,066 o 14 1.5 42,044 y 28 1.5 43,782 y 22 1.5 41,277 y 23 1.9 45,388 y 23 1.8 39,951 y 22 2.1 74,020 y 17 2.2 75,845 s 15 1.6 28,005 y 25 1.7 73,532 y 23 1.7 59,872 y 22 1.6 33,157 y 28 3.4 9,489 t 20 3.6 18,988 y 30 4.1 11,033 t 23 4.8 12,510 a 24

d 13 a 12 d 15 o 14

— 16.7

— 57 56 26

2 97 -1 101

0 0 0 0 1 0 0 0 0 0 0 0 0 0 3 3 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0 0 0 0

1 0 0 0 4 0 0 0 0 0 0 0 0 0 0 2 0 0 0 0 0 0 2 1 1 0 0 0 0 0 0 0 1 0 4 1 0 0 1 1 0 0 0 0 1 0 0

6 —

1.09 — 1.11 20.77 0.94 26.78 0.93 8.75

2,327 —

PNBAX 1 12.5 AAGPX 1 13.0

6 5.50

552 Management Team 9,950 Management Team 8,977 Management Team 3,598 Management Team 35,758 Management Team 77,658 Management Team 1,060 Management Team

d 13 t 11 206 29

2 3 2 4 2 2

98 75 98 91 97 98 89 96 98 99 53 98 97 92 88 98 90 97 98 95 99 94 96

14 NL 4 NL 5 NL

1 17.7

o 15 d 15

TWEIX

89 56

2 20

TWVLX 1 16.4 AMRMX 1 16.3 AWSHX 4 17.2

o 19 d 13 127 45 d 16 a 12 225 16 y 15 d 13 190 24

0.97

8.4

0.59 36.22

6 5.75

0.58 40.93 0.98 11.54 1.14 20.55 0.78 18.08 0.77 18.91 1.04 23.19 0.52 174.18 1.06 34.24 0.63 26.01 0.69 54.88 1.13 15.83 1.1 28.64 0.83 24.72 0.84 18.76 0.84 26.25 1.25 29.1 0.87 16.03 0.35 15.15 0.92 47.77 0.66 30.86 0.82 34.35 1.14 16.82 1.15 45.96 0.29 31.21 0.18 26.94 0.29 17.71 0.09 32.37 0.36 36.63 0.38 21.27 1.26 — 1.34 23.69 1.0 24.48 1.2 40.99 1.31 64.91 1.29 71.18 1.35 18.85 1.01 18.13 1.28 14.8 0.84 21.56 0.79 31.24 1.38 26.39 1.18 68.09 0.76 36.08

5 5.75 16 NL 12 NL 2 NL 2 NL 9 NL 8 NL 8 NL 8 NL 36 5.75 20 5.75 12 5.50 12 5.50 11 5.50 6 NL 1 NL 13 NL 5 NL 0 5.00 1 5.25 3 NL 7 NL 2 NL 8 NL 1 NL 1 NL 1 NL 9 NL 13 NL 4 — 4 NL 6 NL

1 12.8

y 21 o 14

ARTLX

40 53

AUXFX 1 16.6

d 22 y 21 110

4

11

261 J. Jeffrey Auxier (16.3) 378 Management Team

1 17.5 4 16.7

a 15 d 14 p 14 d 14 a 16 d 16 a 24 d 18 u 18 t 16

BVEFX GSFTX

60 41 81 27 51 24 67 17

4 2

8,497 Management Team

DHLAX 4 16.4 DODGX 1 15.7

0 100

3,531 Management Team 57,793 Management Team 4,653 Bruce Berkowitz (15.9) 5,103 Scott Offen (4.1) 8,045 Management Team 4,030 Management Team 15,483 Management Team 12,907 Management Team 11,978 Management Team 8,400 Management Team

1

2 10.1 1 17.3 1 15.7 1 15.8 1 15.1 1 14.1 1 18.2 1 15.4 1 16.6 1 15.6 1 15.4 1 15.2 1 13.6 1 16.9 1 15.6 1 15.8

FAIRX FEQTX FEQIX TEBIX TESIX ACSTX LCEAX ACGIX JPLTX SFLNX SSHFX PRFDX TRVLX TGIGX TORYX VEIPX

57

2

24

3 20

d 16 a 13 111 52 p 13 d 13 176 40

2 3 4 6 2

y 20 d 16

93 40

a 16 d 15 143 19

o 14 t 13 y 16 f 13 d 14 a 12

85 17

84

6

10

91 23

3

JVAAX 1 15.7

t 16 d 9 117 17

2 5 0 5 2

11,514 Management Team

d 21 s 15

76 39

161 Perkins/Preloger (6.9/6.9)

a 13 y 13 638 14

4,877 Management Team 2,038 Management Team 24,693 John Linehan (0.1)

a 23 d 15

38 47

p 12 t 12 121 10 d 21 p 15 104 54

0

98

22,653 Mark Finn (5.9)

p 16 a 16 p 19 a 18

53 17 35 16

0 100

1,067 Diane Jaffee (14.0)

10

90 97

399 Fialco/Torray (7.6/24.9) 19,346 Management Team 15,275 Michael Perre (9.0) 1,317 Management Team 37,447 Gerard OReilly (20.9) 46,752 Management Team 17,717 Management Team 4,292 Management Team 5,565 Hollond/Walsh (8.7/7.7) 9,135 Management Team 2,665 Andrew Peck (12.3) 7,091 Ronald Baron (20.9) 1,266 —

a 14 p 13 185 32 y 14 a 14 439 12 p 13 d 12 250 66

3

VHDYX 1 17.3 VUVLX 1 13.5

0 100

1

99

1 16.1

d 16 a 11 324

VVIAX

6

0 100

VWNFX 1 13.9 VWNDX 1 14.3

d 18 a 13 266 27 a 18 d 15 141 38

3 3

97 97

p 19 a 19 p 29 i 15

— 22.4

— 67 50 16

3 97

AKREX 7 28.0 TWHIX 8 22.8 ARTMX 8 26.7 BARAX 8 26.9 BGRFX 8 23.7 BUFMX 8 25.5 CIPMX 8 22.1 ACTWX 8 21.7 ACRNX 8 21.2 BIOPX 8 45.1

1 0 6 3 0 5 8 2

91 99 94 97 99 94 92 98

a 19 p 19 100 73

t 23 d 21 d 21 a 18 p 20 a 13 t 19 u 9 t 23 p 20 a 18 y 18 t 16 a 14

68 55 62 11 84 13 48 63 55 12 59 46 41 17

3 Clsd

9,037 p 23 4,285 t 25

4.2 3.2

2 NL 3 NL 6 NL 2 NL 0 NL 5 NL 3 NL 9 NL 4 NL 7 NL

4.7 13,047 a 47

342 Management Team 515 Carlsen/Male (0.8/13.9) 766 Management Team 455 Frank/Szafranski (0.0/0.6)

6,516 a 25 6,729 d 20 4,733 p 26 3,441 p 28 6,705 a 38

3.4 2.6 2.9 2.5

0 100 0 100

a 18 t 16 174 17 d 20 t 17 145 21

8,722 Management Team

8 20.4

ETGLX

3.1

18

81 93 93

1,930 Barksdale/Kuruvilla (5.1/7.4) 1,003 Fox/Putnam (15.6/28.9)

FAMVX 8 19.0 FMCSX 8 19.1

2.3 10,104 y 31

t 25 p 16

42

6

7 7

6,680 p 19

y 18 a 16 164 29

2.2

7,635 John Roth (4.7)

16.8 1.6 51,204 21.8 4.3 11,460

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