Portfolio Construction

We judge the durability of stocks based on their fundamental financial information and price volatility. The portfolio is rebalanced once a year, providing the potential for tax-sensitive management. Companies are measured along three primary dimensions: Stock Price Risk, Earnings and Balance Sheet Risk and Profitability and Business Risk.

Portfolio Characteristics

Inception DateJuly 1, 2012
Assets Under Management (in millions)$138.80
Investment StyleCore
BenchmarkRussell Top 200 Index

Portfolio Statistics as of 6/30/19

Durable EquityRussell Top 200 Index
Weighted-Average Market Capitalization ($ Bil)$218.8$298.7
Indicated Yield2.3%2.4%
Trailing P/E Ratio20.0x18.1x
Forward P/E Ratio18.9x17.0x
Price/Book Ratio4.7x3.4x

Sector Diversification as of 6/30/19

Durable EquityRussell Top 200 Index
Communication Services7.7011.90
Consumer Discretionary7.909.80
Consumer Staples13.607.90
Energy5.705.20
Financials4.4013.30
Healthcare16.5015.30
Industrials10.408.10
Information Technology23.5023.00
Materials1.302.10
Real Estate3.501.60
Utilities3.801.90
Cash1.800.00

Top 10 Holdings as of 6/30/19

Apple Inc.7.6%
Facebook, Inc.3.9%
Johnson & Johnson3.1%
Exxon Mobil Corp.2.8%
Visa Inc.2.6%
Procter & Gamble Company2.3%
Pfizer, Inc.2.1%
Mastercard2.0%
The Home Depot Inc.2.0%
Chevron Corp2.0%