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)$177.70
Investment StyleCore
BenchmarkRussell Top 200 Index

Portfolio Statistics as of 12/31/19

Durable EquityRussell Top 200 Index
Weighted-Average Market Capitalization ($ Bil)$358.8$358.5
Indicated Yield2.0%2.3%
Trailing P/E Ratio21.2x20.4x
Forward P/E Ratio19.5x18.7x
Price/Book Ratio5.2x3.8x

Sector Diversification as of 12/31/19

Durable EquityRussell Top 200 Index
Communication Services4.2012.00
Consumer Discretionary8.009.50
Consumer Staples11.907.70
Energy0.004.20
Financials16.0013.30
Healthcare17.9015.20
Industrials7.207.90
Information Technology30.1024.90
Materials0.401.90
Real Estate2.101.60
Utilities1.301.90
Cash1.000.00

Top 10 Holdings as of 12/31/19

Apple Inc.8.4%
Microsoft7.9%
JPMorgan Chase & Co.3.6%
Johnson & Johnson3.0%
Visa Inc.2.6%
Procter & Gamble Company2.4%
United Health Group2.2%
Mastercard2.1%
Walt Disney Company2.0%
The Home Depot Inc.1.9%