The investment team seeks to invest in cash-producing businesses in strong financial condition that are selling at undemanding valuations.
As of 30 June 2024 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDQX | -5.34 | 0.00 | 7.92 | 2.92 | 7.62 | 5.91 | 9.47 |
Russell Midcap® Value Index | -3.40 | 4.54 | 11.98 | 3.65 | 8.49 | 7.60 | 9.49 |
Russell Midcap® Index | -3.35 | 4.96 | 12.88 | 2.37 | 9.46 | 9.04 | 9.66 |
As of 30 June 2024 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDQX | -5.34 | 0.00 | 7.92 | 2.92 | 7.62 | 5.91 | 9.47 |
Russell Midcap® Value Index | -3.40 | 4.54 | 11.98 | 3.65 | 8.49 | 7.60 | 9.49 |
Russell Midcap® Index | -3.35 | 4.96 | 12.88 | 2.37 | 9.46 | 9.04 | 9.66 |
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 |
Semi-Annual Report 31 March 2024 | 1.13% |
---|---|
Prospectus 31 May 2024 | 0.99% |
The Fund’s operating expenses have been restated to reflect a reduction in management fees, effective as of 31 May 2024. See prospectus for further details. Semi-Annual Report Figure(s): Unaudited, annualized for the six-month period.
Top 10 Holdings (% of total portfolio as of 30 June 2024) |
|
---|---|
Analog Devices Inc (Information Technology) | 4.6 |
First Citizens BancShares Inc (Financials) | 4.5 |
Vontier Corp (Information Technology) | 3.1 |
U-Haul Holding Co (Industrials) | 3.1 |
Lamar Advertising Co (Real Estate) | 3.0 |
News Corp (Communication Services) | 2.9 |
Arch Capital Group Ltd (Financials) | 2.8 |
nVent Electric PLC (Industrials) | 2.6 |
Expedia Group Inc (Consumer Discretionary) | 2.6 |
NOV Inc (Energy) | 2.5 |
Total | 31.7% |
Portfolio Statistics (as of 30 June 2024) |
|
---|---|
Median Market Cap (Billions) | $16.3 |
Weighted Avg. Market Cap (Billions) | $24.2 |
Weighted Harmonic Avg. P/E (FY1) | 14.3X |
Weighted Harmonic Avg. P/E (FY2) | 12.8X |
Median Price/Book Value | 2.0X |
Median ROE | 17.2% |
Median Fixed Charge Coverage Ratio | 5.8X |
Active Share | 94.2% |
Annual Turnover | 27.8% |
Number of Securities | 48 |
Cash (% of total portfolio) | 1.6% |
Market Cap Distribution (% of portfolio securities as of 30 June 2024) $ in billions |
|
---|---|
36.7+ | 16.7 |
23.5–36.7 | 17.3 |
15.7–23.5 | 20.6 |
9.7–15.7 | 13.0 |
0–9.7 | 32.4 |
TOTAL | 100.0% |
Sector Diversification (% of portfolio securities as of 30 June 2024) |
|
---|---|
Communication Services | 10.8 |
Consumer Discretionary | 13.4 |
Consumer Staples | 6.7 |
Energy | 2.5 |
Financials | 21.7 |
Health Care | 9.7 |
Industrials | 12.8 |
Information Technology | 11.2 |
Materials | — |
Real Estate | 6.8 |
Utilities | 4.3 |
Other | — |
Total | 100.0% |