U.S. Large Cap Equity
Objective

The U.S. Large Cap Equity Strategy seeks to outperform the S&P 500 Index over a market cycle, while reducing overall volatility.

Investment Strategy
Team
Portfolio Guidelines
Characteristics As Of September 30, 2019
Sector Weights
CharacteristicsStrategyS&P 500
Strategy Assets ($ Million)688.70-
Number of Holdings113506
Beta*0.871.00
Standard Deviation* (%)10.9312.01
Market Cap. ($ Billion)32.20114.08
Price to Trailing Earnings25.5221.47
Price to Cash Flow16.7916.67
Price to Book5.164.50
Enterprise Value to Sales3.903.90
Debt as % of Assets37.7130.58
Dividend Yield (%)**1.921.92
Return on Equity (%)25.4620.25
* Beta & Standard Deviation 36 months
** Dividend yield weighted average, all other data weighted median
Top 10 HoldingsTickerWeight
WALMART INCWMT2.78%
VERIZON COMMUNICATIONS INCVZ2.76%
NVR INCNVR2.75%
HERSHEY CO/THEHSY2.67%
S&P GLOBAL INCSPGI2.64%
AMERICAN WATER WORKS CO INCAWK2.55%
TJX COMPANIES INCTJX2.10%
TORO COTTC2.10%
COLGATE-PALMOLIVE COCL2.06%
BRISTOL-MYERS SQUIBB COBMY2.05%
Risk Statistics
Since Inception (February 01, 2011) Risk StatisticsStrategyS&P 500
Annualized Return14.81%12.49%
Annualized Standard Deviation9.13%11.69%
Return/Risk1.621.07
Tracking Error6.59%-
R-Squared68.45%-
Alpha6.23%-
Beta0.65-
Total Returns As Of September 30, 2019
Inception Date: February 1, 2011
Strategy Excess Returns Vs. Benchmark Results (Monthly)
Calendar Year Returns
2018201720162015201420132012
Strategy Gross of Fees1.13%17.64%10.04%4.58%16.06%28.94%12.08%
Strategy Net of Fees0.36%16.92%9.32%3.57%14.94%27.71%10.98%
S&P 500-4.39%21.82%11.95%1.37%13.68%32.37%15.99%

Compliance Statement

Performance numbers for the most recent period are preliminary and subject to change. Returns for periods of less than one year are not annualized. Past performance is not a reliable indicator of future performance and should not be relied upon to make investment decisions.

The benchmark is the S&P 500 Total Return Index. The S&P 500 is widely regarded as the best single gauge of large cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

You cannot invest directly in an index.

For a GIPS-compliant composite presentation, see this Fact Sheet:

Fact Sheets
U.S. Large Cap Equity Q3 2019
Commentary
U.S. Large Cap Commentary
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