The investment team seeks to invest in cash-producing businesses in strong financial condition that are selling at undemanding valuations.
As of 31 August 2023 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDQX | 0.35 | 9.96 | 8.87 | 13.00 | 5.48 | 6.81 | 9.49 |
Russell Midcap® Value Index | 0.66 | 5.93 | 5.65 | 12.07 | 6.12 | 8.93 | 9.34 |
Russell Midcap® Index | 0.36 | 9.40 | 8.38 | 9.25 | 7.35 | 10.04 | 9.46 |
As of 30 June 2023 | QTD | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception |
---|---|---|---|---|---|---|---|
Advisor Class: APDQX | 4.44 | 9.57 | 12.36 | 15.97 | 6.11 | 7.13 | 9.54 |
Russell Midcap® Value Index | 3.86 | 5.23 | 10.50 | 15.04 | 6.84 | 9.03 | 9.38 |
Russell Midcap® Index | 4.76 | 9.01 | 14.92 | 12.50 | 8.46 | 10.32 | 9.52 |
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Advisor Class: APDQX | -13.43 | 23.71 | 5.57 | 26.57 | -13.07 |
Russell Midcap® Value Index | -12.29 | 27.06 | 4.96 | 28.34 | -12.03 |
Russell Midcap® Index | -9.06 | 30.54 | 17.10 | 22.58 | -17.32 |
Gross | Net | |
Semi-Annual Report 31 March 2023 | 1.07% | — |
Prospectus 30 September 2022 | 1.05% | — |
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 31 August 2023) |
|
---|---|
First Citizens BancShares Inc (Financials) | 4.5 |
Analog Devices Inc (Information Technology) | 3.8 |
Arch Capital Group Ltd (Financials) | 3.2 |
U-Haul Holding Co (Industrials) | 3.1 |
Vontier Corp (Information Technology) | 3.0 |
Marriott International Inc (Consumer Discretionary) | 3.0 |
Globe Life Inc (Financials) | 2.9 |
NOV Inc (Energy) | 2.8 |
DENTSPLY SIRONA Inc (Health Care) | 2.6 |
Cable One Inc (Communication Services) | 2.5 |
Total | 31.5% |
Portfolio Statistics (as of 31 August 2023) |
|
---|---|
Median Market Cap (Billions) | $11.6 |
Weighted Avg. Market Cap (Billions) | $20.2 |
Weighted Harmonic Avg. P/E (FY1) | 13.2X |
Weighted Harmonic Avg. P/E (FY2) | 12.0X |
Median Price/Book Value | 2.1X |
Median ROE | 14.1% |
Median Fixed Charge Coverage Ratio | 6.2X |
Active Share | 94.2% |
Annual Turnover | 15.2% |
Number of Securities | 49 |
Cash (% of total portfolio) | 0.8% |
Market Cap Distribution (% of portfolio securities as of 31 August 2023) $ in billions |
|
---|---|
31.6+ | 20.4 |
22.2–31.6 | 4.5 |
14.0–22.2 | 24.4 |
8.2–14.0 | 23.8 |
0–8.2 | 26.8 |
TOTAL | 100.0% |
Sector Diversification (% of portfolio securities as of 31 August 2023) |
|
---|---|
Communication Services | 12.2 |
Consumer Discretionary | 14.0 |
Consumer Staples | 6.5 |
Energy | 2.9 |
Financials | 23.1 |
Health Care | 10.5 |
Industrials | 12.8 |
Information Technology | 10.5 |
Materials | — |
Real Estate | 5.3 |
Utilities | 2.2 |
Other | — |
Total | 100.0% |