Multi-Cap Growth
Key Investment Tenets
Growth
Profitability
Franchise
Valuation
Positive revenue and earnings growth
Strong competitive position in stable, expanding industry
Positive earnings
Free cash flow positive
Established profit margins
Management focused on core business and aligned with stakeholders’ interests
Prudent use of debt and leverage
Evaluate relative to history, peers, and economic conditions
Strategy Highlights
STYLE: All Cap Growth
INCEPTION: 7/1/2003
BENCHMARK: S&P 1500
CONCENTRATED: Target Number of Holdings 50-60
DIVERSIFICATION TARGETS: 5% maximum individual security weight & 25% maximum exposure to a particular industry, in general
LOW TURNOVER: 25 to 50% annually
FULLY INVESTED: Average cash allocation of 1 to 5%
Investment Policy Committee
John O’Reilly, CFA Committee Chair
Dan Lagan, CFA
Todd Solomon, CFA
Nancy Huynh
Mark Nygren, CFA
Investing involves risk. Principal loss is possible. Before investing, consider the investment objectives, risks, charges and expenses.