Quarterly Statistics

DALCX Quarterly Statistics as of June 30, 2017

Portfolio Characteristics
DALCX
Russell Midcap Value
Russell Midcap
Wtd Avg. Mkt. Cap
$11.9B
$13.4B
$13.6B
Median Mkt. Cap
$8.95B
$7.04B
$7.33B
*P/E (excl. negative earnings)
19.5x
18.9x
19.0x
*P/E (projected next 12 months)
17.8x
17.0x
17.7x
Price/Book
3.0x
2.0x
2.7x
Price/Cash Flow
12.7x
9.7x
11.7x
Number of Holdings
59
591
792
Cash & Equiv.
2.8%
0.0%
0.0%
Non-US
5.6%
0.0%
0.0%
*P/E – a stock’s price compared to its earnings per share (EPS)
Top Ten Holdings
Ticker Name Sector % Total
ELS Equity LifeStyle Properties Inc Real Estate 2.5%
RSG Republic Services Inc Industrials 2.4%
XEL Xcel Energy Inc Utilities 2.2%
GIL Gildan Activewear Inc Consumer Discretionary 2.1%
BCR CR Bard Inc Health Care 2.1%
EMN Eastman Chemical Co Materials 2.1%
IVZ Invesco Ltd Financials 2.0%
POR Portland General Electric Co Utilities 2.0%
HIW Highwoods Properties Inc Real Estate 2.0%
XYL Xylem Inc/NY Industrials 1.9%
% in top 10 21.3%
Sector Weights
DALCX
Russell Midcap Value
Russell Midcap
Consumer Discretionary
14.6%
12.1%
14.6%
Consumer Staples
6.7%
4.3%
4.3%
Energy
7.0%
7.9%
5.5%
Financials
17.6%
19.7%
14.3%
Health Care
7.2%
7.1%
10.5%
Industrials
15.5%
11.3%
13.6%
Information Technology
8.4%
6.3%
14.8%
Materials
8.7%
5.1%
5.7%
Real Estate
6.4%
14.7%
9.9%
Telecommunication Services
0.0%
0.9%
0.6%
Utilities
7.9%
10.6%
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.