Quarterly Statistics

DASCX Quarterly Statistics as of September 30, 2018

Portfolio Characteristics
DASCX
R2000V
R2000
Wtd Avg. Mkt. Cap
$2.3B
$2.2B
$2.4B
Median Mkt. Cap
$2.2B
$0.8B
$0.9B
*P/E (excl. negative earnings)
16.9x
15.9x
19.2x
*P/E (projected next 12 months)
15.5x
14.3x
16.7x
Price/Book
1.8x
1.6x
2.4x
Price/Cash Flow
11.9x
11.4x
17.6x
Number of Holdings
68
1,387
2,040
Cash & Equiv.
4.9%
0.0%
0.0%
Non-US
3.8%
0.0%
0.0%
*P/E – a stock’s price compared to its earnings per share (EPS)
Top Ten Holdings
Ticker Name Sector % Total
NWE NorthWestern Corp Utilities 2.5%
PNM PNM Resources Inc Utilities 2.4%
WAFD Washington Federal Inc Financials 2.3%
ARI Apollo Commercial Real Estate Finance Inc Financials 2.2%
SLGN Silgan Holdings Inc Materials 2.2%
BXMT Blackstone Mortgage Trust Inc Financials 2.2%
DLX Deluxe Corp Industrials 2.1%
TWNK Hostess Brands Inc Consumer Staples 2.1%
RBC Regal Beloit Corp Industrials 2.1%
CVG Convergys Corp Information Technology 2.0%
% in top 10 22.2%
Sector Weights
DASCX R2000V R2000
Communication Services 0.0% 3.0% 3.3%
Consumer Discretionary 7.7% 9.5% 12.3%
Consumer Staples 10.8% 2.5% 2.6%
Energy 3.4% 7.5% 4.8%
Financials 27.4% 28.2% 17.4%
Health Care 3.1% 5.0% 16.5%
Industrials 17.9% 12.1% 15.0%
Information Technology 9.6% 10.3% 13.9%
Materials 4.3% 4.4% 4.2%
Real Estate 8.2% 11.5% 6.9%
Utilities 7.6% 6.0% 3.1%

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.