The investment team seeks to invest in cash-producing businesses in strong financial condition that are selling at undemanding valuations.
As of 29 February 2024 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDQX | 1.56 | 1.56 | 12.39 | 6.66 | 8.52 | 6.57 | 9.69 |
Russell Midcap® Value Index | 2.90 | 2.90 | 10.87 | 6.80 | 8.94 | 8.19 | 9.56 |
Russell Midcap® Index | 4.08 | 4.08 | 15.46 | 5.51 | 10.35 | 9.45 | 9.77 |
As of 31 December 2023 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDQX | 11.20 | 18.25 | 18.25 | 9.17 | 11.19 | 6.39 | 9.69 |
Russell Midcap® Value Index | 12.11 | 12.71 | 12.71 | 8.36 | 11.16 | 8.26 | 9.50 |
Russell Midcap® Index | 12.82 | 17.23 | 17.23 | 5.92 | 12.68 | 9.42 | 9.65 |
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Advisor Class: APDQX | 23.71 | 5.57 | 26.57 | -13.07 | 18.25 |
Russell Midcap® Value Index | 27.06 | 4.96 | 28.34 | -12.03 | 12.71 |
Russell Midcap® Index | 30.54 | 17.10 | 22.58 | -17.32 | 17.23 |
Annual Report 30 September 2023 | 1.07% |
---|---|
Prospectus 30 September 2023 | 1.08% |
See prospectus for further details.
Top 10 Holdings (% of total portfolio as of 29 February 2024) |
|
---|---|
First Citizens BancShares Inc (Financials) | 4.0 |
Vontier Corp (Information Technology) | 3.9 |
Analog Devices Inc (Information Technology) | 3.7 |
U-Haul Holding Co (Industrials) | 3.4 |
Globe Life Inc (Financials) | 3.1 |
News Corp (Communication Services) | 2.7 |
Lamar Advertising Co (Real Estate) | 2.7 |
Baxter International Inc (Health Care) | 2.7 |
Expedia Group Inc (Consumer Discretionary) | 2.7 |
Arch Capital Group Ltd (Financials) | 2.5 |
Total | 31.3% |
Portfolio Statistics (as of 29 February 2024) |
|
---|---|
Median Market Cap (Billions) | $15.4 |
Weighted Avg. Market Cap (Billions) | $22.6 |
Weighted Harmonic Avg. P/E (FY1) | 14.8X |
Weighted Harmonic Avg. P/E (FY2) | 13.1X |
Median Price/Book Value | 2.2X |
Median ROE | 14.9% |
Median Fixed Charge Coverage Ratio | 6.1X |
Active Share | 94.1% |
Annual Turnover | 27.8% |
Number of Securities | 48 |
Cash (% of total portfolio) | 2.3% |
Market Cap Distribution (% of portfolio securities as of 29 February 2024) $ in billions |
|
---|---|
36.7+ | 16.9 |
23.5–36.7 | 5.9 |
15.7–23.5 | 26.5 |
9.7–15.7 | 20.6 |
0–9.7 | 30.1 |
TOTAL | 100.0% |
Sector Diversification (% of portfolio securities as of 29 February 2024) |
|
---|---|
Communication Services | 11.3 |
Consumer Discretionary | 13.3 |
Consumer Staples | 7.4 |
Energy | 2.2 |
Financials | 20.7 |
Health Care | 11.7 |
Industrials | 11.4 |
Information Technology | 10.8 |
Materials | — |
Real Estate | 7.5 |
Utilities | 3.8 |
Other | — |
Total | 100.0% |