Quarterly Statistics

DASCX Quarterly Statistics as of December 31, 2011

Portfolio Characteristics
DASCX R2000V R2000
Wtd Avg Mkt Cap $1.4B $1.1B $1.2B
Median Mkt Cap $1.4B $0.4B $0.5B
*P/E (excl. negative earnings) 12.9x 15.0x 16.9x
*P/E (projected next 12 months) 10.3x 13.1x 14.6x
Price/Book 2.1x 1.2x 1.8x
Price/Cash Flow 8.6x 10.9x 12.6x
Number of Holdings 77 1354 1966
Cash & Equiv. 1.9% 0.0% 0.0%
Non-US 4.4% 0.0% 0.0%
Top Ten Holdings
Ticker Name Sector % Total
AM American Greeting Corp Consumer Discretionary 2.1%
TCB TCF Financial Corp Financials 2.1%
HLS HealthSouth Corp Health Care 2.1%
GEOY GeoEye Inc Industrials 2.0%
IM Ingram Micro Inc Information Technology 2.0%
GEF Greif Inc Materials 2.0%
DOLE Dole Food Co Inc Consumer Staples 2.0%
AEL American Equity Invest. Life Financials 2.0%
HBI Hanesbrand Inc Consumer Discretionary 2.0%
CLD Cloud Peak Energy Energy 2.0%
% in top 10 20.3%
Sector Weights
DASCX R2000V R2000
Consumer Discretionary 19.4% 11.7% 13.0%
Consumer Staples 6.6% 3.1% 3.6%
Energy 5.3% 4.6% 6.7%
Financials 23.2% 36.8% 22.3%
Health Care 5.4% 5.3% 12.7%
Industrials 18.0% 14.8% 15.5%
Information Technology 14.2% 10.9% 17.2%
Materials 7.9% 4.9% 4.5%
Other 0.0% 0.0% 0.0%
Telecommunication Services 0.0% 0.6% 0.8%
Utilities 0.0% 7.3% 3.7%

Russell 2000 Value “R2000V” measures the performance of those Russell 2000 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 2000 “R2000″ is an unmanaged, capitalization-weighted index of domestic small-cap stocks. It measures the performance of the 2,000 smallest publicly traded U.S. companies in the Russell 3000 Index.