(PUB) Investing 2015

39

Current Portfolio Style

Costs

Operations

Current

Average Regional Exposure (% of Assets)

Total

Equity Price/ Market Style Cash Cap Box Flow ($Mil)

# of

Turn- Recent Composition

Sales

Total

UK/W. North Latin

Asia ex-

Hold-

over

(% of Assets)

Charge Expense NAV Assets

Europe Amer Amer Japan Japan Other ings % Cash Stock Bond Other % Ratio% ($)

($Mil)

Portfolio Manager (Tenure Years)

— 1.0 5,975 52 7 2 17 16 5.9 34,277 63 2 0 15 10 7.8 39,575 43 4 0 11 20 5.0 28,986 45 6 2 9 16 9.0 38,712 52 5 3 15 17 11.6 2,412 46 4 3 1 36 4 7 8.5 20,864 51 19 0 7 9 4.1 40,768 67 1 0 14 12 6.9 6,389 30 15 0 23 28 7.0 3,059 31 7 3 20 32 5.6 45,402 50 8 7 12 9 4 7 7.7 32,121 50 13 1 16 13 7.2 19,816 50 7 0 16 16 6.4 35,587 64 0 0 20 12 8.1 12,307 28 6 3 23 10 8.5 49,105 78 3 1 9 3 4.5 41,766 47 9 3 14 15 7.4 5,395 21 3 0 18 16 4.0 6,598 16 22 8 5 40 7.9 19,319 59 11 4 10 11 2.9 8,597 54 5 8 3 27 4 7.9 35,185 69 5 0 19 2 8.9 19,844 65 15 8 1 6 10.4 11,561 59 9 1 14 7 6.9 34,362 71 5 0 12 7 8.9 2,215 61 0 1 14 19 4 10.0 15,121 80 5 2 5 5 9.3 37,502 60 8 4 14 9 6.8 1,779 41 2 2 19 25 7.7 24,130 49 4 4 13 22 5.4 21,646 58 2 1 18 13 8 7 1 5.9 34,695 58 2 1 17 13 5.4 1,056 14 19 0 23 39 7.2 4,133 44 16 8 5 18 8.3 66,915 47 9 2 16 17 5.7 32,059 62 12 2 2 5 8 2 9.3 41,859 66 6 2 12 10 6.2 31,338 61 0 0 21 16 5.7 28,319 45 7 3 16 22 4.8 1,418 39 14 2 14 26 7.4 1,856 54 0 0 22 17 8 5.7 31,226 53 4 3 12 21 6.9 33,219 47 2 2 23 15 5.8 21,042 44 8 3 16 23 15.3 42,965 51 17 3 1 22 7.7 26,798 49 7 3 18 18 4 4 7 — 6.3 42,572 28 52 1 6 8 7.8 55,413 31 42 0 3 11 9.6 55,047 30 46 1 6 5 9.5 2,941 14 45 2 3 15 7 7 4 4 4 7

0 — 9 2 187 23 3 430 28 0 216 29 0 79 46 0 60 58 0 61 20 0 64 27 4 44 72 6 243 45 7 96 13 3 246 39 1 208 57 2 161 12 0 109 11 5 57 10 1 115 23 4 62 30 1 75 112 0 24 36 0 45 56 1 83 46 3 87 34 0 68 39 1 67 38 0 107 12 3 82 12 2 214 42 3 134 39 3 116 45 1 969 2

3 96 0 4 93 0 10 81 0 4 92 1 8 89 0 13 86 0 6 94 0 0 99 0 0 99 0 1 95 0 3 95 0 5 94 0 2 97 0 20 72 1 4 95 0 4 94 0 28 59 9 2 95 0 0 95 0 3 97 0 2 96 0 3 96 0 3 93 0 2 96 1 3 95 0 2 97 0 0 98 0 4 92 2 2 95 0 4 95 0 4 91 3 0 98 0 8 90 0 2 95 0 17 83 0 1 97 0 0 99 0 0 97 0 1 98 0 4 93 0 2 97 0 5 94 0 0 96 0 4 96 0 1 98 0 3 96 0 5 88 0 5 88 0 10 82 0

1 — 1.40

— 242 —

AAIPX

3 NL 1.05 18.26 2,242 Management Team

0.84

AEPGX 7 IGAAX 4

8 5.75

47.13 121,383 Management Team

12 77 1 10 5.75 0.91 31.83 9,635 Management Team

ARTIX

3 NL

1.2 29.96 18,323 Management Team

ARTJX 8 ARTKX 4

2 Clsd 1.51 22.46 1,033 Hamker/Yockey (2.9/13.0)

2 Clsd 1.18 34.21 11,495 O’Keefe/Samra (8.2/12.2)

CIVVX LAFAX

0 NL

1.2 14.69 6,292 Management Team

1 5.75 1.49 22.04 253 Christopher Olson (13.2)

0.94 0.64 0.91 0.91

ACINX 8 DODFX 4

1 NL 4 NL 2 NL 1 NL 1 NL

41.73 7,738 Egan/Mendes (11.7/11.7) 42.11 66,464 Management Team 34.45 24,159 William Bower (13.7) 37.99 10,810 William Kennedy (10.2) 37.22 13,837 Management Team

FDIVX FIGRX FSIIX

0.2

SGOVX 4 HAINX 4 HLMNX 7

7 Clsd 1.15 21.77 13,832 Brooker, Jr./McLennan (4.8/6.2)

0.74

1 NL

64.78 46,972 Management Team

2 NL

1.2 17.55 4,167 Management Team

IVIOX

4 Clsd 1.26 16.42 3,550 de Lardemelle/de Vaulx (6.2/6.2)

0.68

JAOSX 4 MSILX 7

3 NL

31.49 3,386 Brent Lynn (14.0)

5 NL 0.99 17.36 1,518 Management Team 0 NL 1.27 13.8 1,465 Management Team 1 NL 0.95 32.79 1,949 Management Team 1 NL 1.07 7.33 5,466 Management Team 4 NL 1.26 20.0 1,051 Benjamin Segal (9.5) 1 Clsd 0.98 23.34 27,909 Herro/Taylor (22.2/6.0) 1 Clsd 1.35 14.79 2,876 Herro/Manelli (19.2/3.6) 1 5.75 1.15 35.28 18,449 Dunphy/Evans (2.7/18.7) 2 NL 1.01 32.59 5,498 Management Team 1 NL 1.23 51.58 3,542 Justin Thomson (16.0)

LLINX

ICEUX

EXWAX 4 NIQVX 7

OAKIX

OAKEX 5 OIGAX 7 UMBWX 7

PRIDX PRITX TRIGX

0.85 0.86

3 NL 1 NL

15.61 13,409 Robert Smith (7.2)

13.77 10,478 Jonathan Matthews (4.5)

TROSX 4

0 159

8

2 NL 0.86 9.42 9,738 Raymond Mills (8.0)

TGICX TAVIX

3 67 260 0 37 22 0 77 37

2 NL 1.36 8.12

27 Rohit Sah (3.8)

2 NL

1.4 16.45 304 Matthew Fine (3.0)

TGVAX 4 TBGVX 1

3 4.50 1.25 26.84 12,399 Fries/Wang (16.6/8.9) 0 NL 1.38 26.04 8,846 Management Team

0 111

4

USIFX

1 81 14 1 1414 13

2 NL 1.16 28.08 3,343 Ling/Smith (5.2/12.5)

0.09 0.15

VTMGX 4 VFWAX 4 VFSVX 5

1 NL 3 NL 1 NL 3 NL 1 NL 1 NL 3 NL

12.17 45,714 Christine Franquin (1.8) 29.12 22,249 Ryan Ludt (6.3) 36.39 2,452 Michael Eyre (1.8) 16.47 2,541 Dobbs/Thomas (15.0/4.5) 21.54 22,210 Management Team 33.95 8,245 Management Team 26.0 134,653 Michael Perre (6.3)

4 2445

4

0.4

2 3255 13 0 335 39 3 187 21 5 175 37 1 57 31 3 212 97 1 — 57 1 371 24 2 291 25 1 645 38 3 5744 3

0.36

VINEX

0.47 0.43 0.14

VWIGX 7

VTRIX VTIAX JVIAX

0 5.75 1.45 27.76 1,892 Rajiv Jain (12.8) 1 Clsd 1.44 25.24 3,688 Fennell/Urbina (1.7/1.7)

WBIGX 7

1 — 1.35

— 1,630 —

0.8

CWGIX 4 ANWPX 7 SMCWX 8

7 5.75 7 5.75

46.09 86,465 Management Team 36.28 56,647 Management Team

0.76

9 5.75 1.07 45.31 25,929 Management Team

Bold #  Cheapest Quintile

Equity Style Box Val BlndGrth

Lrg Mid Sm