Quarterly Statistics

DALCX Quarterly Statistics as of March 31, 2017

Portfolio Characteristics
DALCX
Russell Midcap Value
Russell Midcap
Wtd Avg. Mkt. Cap
$11.6B
$13.9B
$14.1B
Median Mkt. Cap
$9.1B
$6.5B
$6.9B
*P/E (excl. negative earnings)
18.7x
19.4x
21.3x
*P/E (projected next 12 months)
17.5x
17.1x
18.5x
Price/Book
3.0x
1.9x
2.7x
Price/Cash Flow
12.7x
9.6x
11.7x
Number of Holdings
58
566
795
Cash & Equiv.
2.5%
0.0%
0.0%
Non-US
5.3%
0.0%
0.0%
*P/E – a stock’s price compared to its earnings per share (EPS)
Top Ten Holdings
Ticker Name Sector % Total
RSG Republic Services Inc Industrials 2.4%
ELS Equity LifeStyle Properties Inc Real Estate 2.3%
WRI Weingarten Realty Investors Real Estate 2.2%
XEL Xcel Energy Inc Utilities 2.1%
CBSH Commerce Bancshares Inc/MO Financials 2.0%
EMN Eastman Chemical Co Materials 2.0%
AMP Ameriprise Financial Inc Financials 2.0%
POR Portland General Electric Co Utilities 2.0%
TER Teradyne Inc Information Technology 1.9%
AEE Ameren Corp Utilities 1.9%
% in top 10 20.9%
Sector Weights
DALCX
Russell Midcap Value
Russell Midcap
Consumer Discretionary
11.8%
8.6%
15.1%
Consumer Staples
6.2%
3.3%
5.0%
Energy
6.3%
9.6%
5.8%
Financials
18.9%
19.6%
13.1%
Health Care
6.8%
4.1%
9.3%
Industrials
13.5%
12.9%
13.8%
Information Technology
12.0%
9.5%
15.3%
Materials
8.7%
6.1%
5.7%
Real Estate
7.9%
13.9%
10.0%
Telecommunication Services
0.0%
1.2%
0.7%
Utilities
7.9%
11.2%
6.2%

Russell Midcap Value measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell Midcap Index companies with lower price-to-book ratios and lower forecasted growth values. The performance of the index does not reflect deductions for fees, expenses or taxes. Index is not available for purchase.

The Russell Midcap is an unmanaged, capitalization-weighted index of domestic mid-cap stocks. It is a subset of the Russell 1000 Index and includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership.