Quarterly Statistics

DASCX Quarterly Statistics as of December 31, 2017

Portfolio Characteristics
DASCX
R2000V
R2000
Wtd Avg. Mkt. Cap
$2.4B
$2.1B
$2.4B
Median Mkt. Cap
$2.15B
$0.75B
$0.86B
*P/E (excl. negative earnings)
18.3x
19.6x
22.2x
*P/E (projected next 12 months)
16.5x
16.7x
18.6x
Price/Book
2.3x
1.6x
2.4x
Price/Cash Flow
13.4x
10.7x
14.5x
Number of Holdings
71
1,387
1,983
Cash & Equiv.
4.8%
0.0%
0.0%
Non-US
6.2%
0.0%
0.0%
*P/E – a stock’s price compared to its earnings per share (EPS)
Top Ten Holdings
Ticker Name Sector % Total
ARI Apollo Commercial Real Estate Finance Inc Financials 2.2%
NWE NorthWestern Corp Utilities 2.2%
PNM PNM Resources Inc Utilities 2.2%
AGII Argo Group International Holdings Ltd Financials 2.1%
BXMT Blackstone Mortgage Trust Inc Financials 2.1%
CXP Columbia Property Trust Inc Real Estate 2.0%
PLXS Plexus Corp Information Technology 2.0%
CBT Cabot Corp Materials 2.0%
LTC LTC Properties Inc Real Estate 2.0%
ADTN ADTRAN Inc Information Technology 1.9%
% in top 10 20.6%
Sector Weights
DASCX R2000V R2000
Consumer Discretionary 9.2% 10.9% 12.5%
Consumer Staples 5.6% 2.8% 2.8%
Energy 4.3% 6.8% 4.0%
Financials 28.1% 30.3% 17.8%
Health Care 2.9% 6.2% 15.3%
Industrials 17.1% 12.1% 15.4%
Information Technology 14.5% 9.0% 16.6%
Materials 5.6% 4.5% 4.5%
Real Estate 7.0% 10.3% 6.7%
Telecommunication Services 0.0% 0.5% 0.8%
Utilities 5.7% 6.6% 3.6%

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.