Portfolio Characteristics

As of 12/31/2019

Mid Cap Value Fund
Russell Midcap® Value Index
Number of Holdings
165
631
Weighted Avg. Market Cap ($Mil)
12,001.66
15,762.63
Median Market Cap ($Mil)
5,780.22
8,039.28
Price/Book Ratio
1.81
2.32
Adj. Trailing P/E Ratio
11.54
18.53
Forecasted P/E Ratio
11.10
17.83
Earnings Growth Rate (%)
11.43
10.04
Proj. Earnings Growth Rate (%)
6.86
7.30
Return on Equity (%)
13.57
10.56
Turnover (annualized % as of fiscal year end 10/31)
1
Beta vs. Fund Benchmark
1.22

Top Ten Holdings

As of 12/31/2019

Company Name [Ticker]
% of Net Assets
PPL Corp.[PPL]
1.7
Cummins Inc.[CMI]
1.6
Citizens Financial Group Inc.[CFG]
1.6
Kroger Co.[KR]
1.5
Lincoln National Corp.[LNC]
1.4
Ameriprise Financial Inc.[AMP]
1.4
Fifth Third Bancorp[FITB]
1.3
On Semiconductor Corp.[ON]
1.3
Zions Bancorporation[ZION]
1.3
Eastman Chemical Co.[EMN]
1.2

Full Holdings

As of 12/31/2019

Company Name [Ticker]
Country
Shares (000's)
Current Price ($)
Market Value ($000's)
% of Net Assets
PPL Corp. [PPL]
United States
317
35.88
11,381
1.7
Cummins Inc. [CMI]
United States
62
178.96
11,096
1.6
Citizens Financial Group Inc. [CFG]
United States
268
40.61
10,875
1.6
Kroger Co. [KR]
United States
353
28.99
10,239
1.5
Lincoln National Corp. [LNC]
United States
162
59.01
9,542
1.4
Ameriprise Financial Inc. [AMP]
United States
57
166.58
9,528
1.4
Fifth Third Bancorp [FITB]
United States
298
30.74
9,145
1.3
On Semiconductor Corp. [ON]
United States
353
24.38
8,596
1.3
Zions Bancorporation [ZION]
United States
165
51.92
8,562
1.3
Eastman Chemical Co. [EMN]
United States
107
79.26
8,441
1.2
Celanese Corp. [CE]
United States
68
123.12
8,421
1.2
Vistra Energy Corp. [VST]
United States
355
22.99
8,172
1.2
Whirlpool Corp. [WHR]
United States
55
147.53
8,040
1.2
Allstate Corp. [ALL]
United States
71
112.45
7,961
1.2
United Airlines Holdings Inc. [UAL]
United States
89
88.09
7,814
1.1
Tyson Foods Inc. [TSN]
United States
84
91.04
7,620
1.1
Regions Financial Corp. [RF]
United States
438
17.16
7,513
1.1
Best Buy Co. Inc. [BBY]
United States
85
87.80
7,489
1.1
Jazz Pharmaceuticals plc [JAZZ]
Ireland
50
149.28
7,449
1.1
Voya Financial Inc. [VOYA]
United States
120
60.98
7,330
1.1
Seagate Technology plc [STX]
Ireland
118
59.50
6,997
1.0
Discover Financial Services [DFS]
United States
82
84.82
6,930
1.0
Manpowergroup Inc. [MAN]
United States
71
97.10
6,904
1.0
Reliance Steel & Aluminum Co. [RS]
United States
57
119.76
6,874
1.0
Valero Energy Corp. [VLO]
United States
71
93.65
6,677
1.0
Vereit Inc. [VER]
United States
693
9.24
6,402
0.9
Universal Health Services Inc. [UHS]
United States
44
143.46
6,241
0.9
JetBlue Airways Corp. [JBLU]
United States
333
18.72
6,232
0.9
National Fuel Gas Co. [NFG]
United States
130
46.54
6,050
0.9
Molson Coors Brewing Co. [TAP]
United States
111
53.90
5,956
0.9
Hartford Financial Services Group Inc. [HIG]
United States
97
60.77
5,901
0.9
OMEGA Healthcare Investors Inc. [OHI]
United States
139
42.35
5,882
0.9
Public Service Enterprise Group Inc. [PEG]
United States
99
59.05
5,846
0.9
Xerox Holdings Corp. [XRX]
United States
157
36.87
5,803
0.8
JM Smucker Co. [SJM]
United States
55
104.13
5,675
0.8
FirstEnergy Corp. [FE]
United States
115
48.60
5,584
0.8
HollyFrontier Corp. [HFC]
United States
108
50.71
5,469
0.8
Huntsman Corp. [HUN]
United States
226
24.16
5,460
0.8
PulteGroup Inc. [PHM]
United States
137
38.80
5,327
0.8
Toll Brothers Inc. [TOL]
United States
134
39.51
5,275
0.8
Western Union Co. [WU]
United States
197
26.78
5,268
0.8
HCA Healthcare Inc. [HCA]
United States
36
147.81
5,262
0.8
Textron Inc. [TXT]
United States
115
44.60
5,120
0.7
Gaming And Leisure Properties Inc. [GLPI]
United States
117
43.05
5,045
0.7
HP Inc. [HPQ]
United States
242
20.55
4,980
0.7
Davita Inc. [DVA]
United States
66
75.03
4,944
0.7
McKesson Corp. [MCK]
United States
36
138.32
4,944
0.7
Edison International [EIX]
United States
65
75.41
4,917
0.7
CIT Group Inc. [CIT]
United States
107
45.63
4,894
0.7
Allison Transmission Holdings Inc. [ALSN]
United States
101
48.32
4,861
0.7
Kohl's Corp. [KSS]
United States
94
50.95
4,810
0.7
Oshkosh Corp. [OSK]
United States
48
94.65
4,515
0.7
Outfront Media Inc. [OUT]
United States
166
26.82
4,453
0.7
Brixmor Property Group Inc. [BRX]
United States
205
21.61
4,432
0.6
Dick's Sporting Goods Inc. [DKS]
United States
88
49.49
4,350
0.6
Foot Locker Inc. [FL]
United States
111
38.99
4,336
0.6
Assured Guaranty Ltd. [AGO]
Bermuda
88
49.02
4,333
0.6
Marathon Petroleum Corp. [MPC]
United States
72
60.25
4,332
0.6
Spirit Aerosystems Holdings Inc. [SPR]
United States
59
72.88
4,322
0.6
Lear Corp. [LEA]
United States
31
137.20
4,294
0.6
Meritor Inc. [MTOR]
United States
162
26.19
4,240
0.6
Piedmont Office Realty Trust Inc. [PDM]
United States
189
22.24
4,208
0.6
Ally Financial Inc. [ALLY]
United States
137
30.56
4,178
0.6
WestRock Co. [WRK]
United States
96
42.91
4,115
0.6
AMC Networks Inc. [AMCX]
United States
103
39.50
4,057
0.6
Unum Group [UNM]
United States
139
29.16
4,053
0.6
Owens Corning [OC]
United States
61
65.12
3,985
0.6
Franklin Street Properties Corp. [FSP]
United States
465
8.56
3,980
0.6
Harley-Davidson Inc. [HOG]
United States
106
37.19
3,927
0.6
Wabash National Corp. [WNC]
United States
264
14.69
3,875
0.6
KeyCorp [KEY]
United States
187
20.24
3,787
0.6
Regal Beloit Corp. [RBC]
United States
44
85.61
3,784
0.6
Diodes Inc. [DIOD]
United States
67
56.37
3,763
0.5
Brinker International Inc. [EAT]
United States
88
42.00
3,709
0.5
Devon Energy Corp. [DVN]
United States
142
25.97
3,696
0.5
DXC Technology Co. [DXC]
United States
98
37.59
3,691
0.5
Group 1 Automotive Inc. [GPI]
United States
37
100.00
3,680
0.5
International Paper Co. [IP]
United States
79
46.05
3,647
0.5
Timken Co. [TKR]
United States
65
56.31
3,643
0.5
Ingredion Inc. [INGR]
United States
39
92.95
3,625
0.5
Goodyear Tire & Rubber Co. [GT]
United States
231
15.555
3,598
0.5
Cardinal Health Inc. [CAH]
United States
69
50.58
3,500
0.5
Snap-on Inc. [SNA]
United States
21
169.40
3,490
0.5
Host Hotels & Resorts Inc. [HST]
United States
188
18.55
3,484
0.5
Radian Group Inc. [RDN]
United States
137
25.16
3,439
0.5
Summit Hotel Properties Inc. [INN]
United States
277
12.34
3,422
0.5
Truist Financial Corp. [TFC]
United States
61
56.32
3,413
0.5
Brandywine Realty Trust [BDN]
United States
214
15.75
3,369
0.5
Alaska Air Group Inc. [ALK]
United States
50
67.75
3,367
0.5
Domtar Corp. [UFS]
United States
87
38.24
3,323
0.5
BorgWarner Inc. [BWA]
United States
77
43.38
3,319
0.5
AGCO Corp. [AGCO]
United States
43
77.25
3,283
0.5
Vishay Intertechnology Inc. [VSH]
United States
154
21.29
3,283
0.5
Cabot Corp. [CBT]
United States
69
47.52
3,279
0.5
Xenia Hotels & Resorts Inc. [XHR]
United States
151
21.61
3,267
0.5
Principal Financial Group Inc. [PFG]
United States
58
55.00
3,212
0.5
PennyMac Mortgage Investment Trust [PMT]
United States
141
22.29
3,138
0.5
Methode Electronics Inc. [MEI]
United States
79
39.35
3,116
0.5
O I Glass Inc. [OI]
United States
261
11.93
3,113
0.5
Navient Corp. [NAVI]
United States
225
13.68
3,081
0.5
Laboratory Corp. of America Holdings [LH]
United States
18
169.17
3,079
0.4
RLJ Lodging Trust [RLJ]
United States
173
17.72
3,068
0.4
Avnet Inc. [AVT]
United States
72
42.44
3,060
0.4
Site Centers Corp. [SITC]
United States
217
14.02
3,035
0.4
Raymond James Financial Inc. [RJF]
United States
34
89.46
3,033
0.4
Service Properties Trust [SVC]
United States
124
24.33
3,027
0.4
American Financial Group Inc. [AFG]
United States
28
109.65
3,015
0.4
Ingles Markets Inc. [IMKTA]
United States
62
47.51
2,955
0.4
TTM Technologies Inc. [TTMI]
United States
196
15.05
2,953
0.4
Sabra Health Care REIT Inc. [SBRA]
United States
138
21.34
2,949
0.4
Gap Inc. [GPS]
United States
166
17.68
2,937
0.4
Old Republic International Corp. [ORI]
United States
129
22.37
2,888
0.4
Invesco Mortgage Capital Inc. [IVR]
United States
171
16.65
2,847
0.4
Meritage Homes Corp. [MTH]
United States
47
61.11
2,842
0.4
NCR Corp. [NCR]
United States
80
35.16
2,802
0.4
Cirrus Logic Inc. [CRUS]
United States
34
82.41
2,785
0.4
Hersha Hospitality Trust [HT]
United States
189
14.55
2,746
0.4
ViacomCBS Inc. [VIAC]
United States
65
41.97
2,723
0.4
Thor Industries [THO]
United States
36
74.29
2,645
0.4
Ares Capital Corp. [ARCC]
United States
142
18.65
2,639
0.4
Triton International Ltd. [TRTN]
Bermuda
66
40.20
2,639
0.4
Big Lots Inc. [BIG]
United States
92
28.72
2,631
0.4
Trinseo SA [TSE]
Luxembourg
70
37.21
2,620
0.4
Penske Automotive Group Inc. [PAG]
United States
52
50.22
2,611
0.4
Macy's Inc. [M]
United States
151
17.00
2,560
0.4
American Airlines Group Inc. [AAL]
United States
85
28.68
2,449
0.4
Brunswick Corp. [BC]
United States
40
59.98
2,417
0.4
TEGNA Inc. [TGNA]
United States
144
16.69
2,405
0.4
MGIC Investment Corp. [MTG]
United States
170
14.17
2,403
0.4
PBF Energy Inc. [PBF]
United States
77
31.37
2,400
0.4
Aflac Inc. [AFL]
United States
45
52.90
2,386
0.3
Huntington Ingalls Industries Inc. [HII]
United States
9
250.88
2,333
0.3
Capri Holdings Ltd. [CPRI]
Virgin Islands
61
38.15
2,323
0.3
Alexion Pharmaceuticals Inc. [ALXN]
United States
21
108.15
2,293
0.3
MFA Financial Inc. [MFA]
United States
298
7.65
2,282
0.3
LAM Research Corp. [LRCX]
United States
8
292.40
2,281
0.3
Industrial Logistics Properties Trust [ILPT]
United States
97
22.42
2,166
0.3
Lazard Ltd. [LAZ]
Bermuda
54
39.96
2,154
0.3
Prospect Capital Corp. [PSEC]
United States
329
6.44
2,121
0.3
Universal Insurance Holdings Inc. [UVE]
United States
75
27.99
2,105
0.3
Lexington Realty Trust [LXP]
United States
196
10.62
2,082
0.3
Atlas Air Worldwide Holdings Inc. [AAWW]
United States
74
27.57
2,046
0.3
Annaly Capital Management Inc. [NLY]
United States
217
9.42
2,040
0.3
Chemours Co. [CC]
United States
112
18.09
2,028
0.3
Ethan Allen Interiors Inc. [ETH]
United States
101
19.06
1,934
0.3
Mylan NV [MYL]
Netherlands
93
20.10
1,879
0.3
Office Depot Inc. [ODP]
United States
678
2.74
1,857
0.3
Legg Mason Inc. [LM]
United States
52
35.91
1,849
0.3
Synnex Corp. [SNX]
United States
14
128.80
1,802
0.3
Corcept Therapeutics Inc. [CORT]
United States
149
12.10
1,798
0.3
Silgan Holdings Inc. [SLGN]
United States
55
31.08
1,716
0.3
Banco Latinoamericano de Comercio Exterior SA [BLX]
Panama
80
21.38
1,710
0.2
Office Properties Income Trust [OPI]
United States
53
32.14
1,695
0.2
Bed Bath & Beyond Inc. [BBBY]
United States
93
17.30
1,605
0.2
Aircastle Ltd. [AYR]
Bermuda
40
32.01
1,274
0.2
American Axle & Manufacturing Holdings Inc. [AXL]
United States
118
10.76
1,272
0.2
Pitney Bowes Inc. [PBI]
United States
305
4.03
1,229
0.2
SRC Energy Inc. [SRCI]
United States
288
4.12
1,187
0.2
Cooper-Standard Holdings Inc. [CPS]
United States
33
33.16
1,091
0.2
Retail Value Inc. [RVI]
United States
29
36.80
1,081
0.2
Nelnet Inc. [NNI]
United States
18
58.24
1,058
0.2
Lannett Co. Inc. [LCI]
United States
110
8.82
972
0.1
Wyndham Destinations Inc. [WYND]
United States
15
51.69
788
0.1
Gannett Co. Inc. [GCI]
United States
40
6.38
253
0.0
A. Schulman Inc.
United States
10
0.433
4
0.0

Sector Allocation

As of 12/31/2019

Economic Sector
Mid Cap Value Fund %
Russell Midcap® Value Index %
Financials
22.7
18.4
Industrials
13.5
11.8
Consumer Discretionary
13.4
9.1
Real Estate
10.2
14.0
Information Technology
8.9
7.6
Materials
7.7
6.7
Health Care
6.2
6.9
Utilities
6.1
11.2
Consumer Staples
5.3
4.7
Energy
3.5
5.7
Communication Services
1.4
3.9

Sector Returns

As of 12/31/2019

Economic Sector
Mid Cap Value Fund %
Russell Midcap® Value Index %
Information Technology
21.7
11.5
Industrials
9.1
9.3
Materials
8.8
9.4
Consumer Discretionary
8.2
8.3
Health Care
7.8
7.8
Financials
6.6
7.1
Consumer Staples
5.9
6.5
Real Estate
3.3
-0.3
Energy
1.6
10.6
Cash
0.4
0.0
Utilities
0.3
-0.1
Communication Services
-6.6
11.2