Nuance Concentrated Value
Sector Allocation
as of 10/31/2019
GICS Sectors | Nuance Concentrated Value Composite | Russell 3000 Value Index |
Cash | 11.7 | 0.0 |
---|---|---|
Communication Services | 4.0 | 7.8 |
Consumer Discretionary | 0.0 | 6.2 |
Consumer Staples | 10.0 | 8.6 |
Energy | 0.0 | 7.9 |
Financials | 31.9 | 24.2 |
Health Care | 17.8 | 12.1 |
Industrials | 16.7 | 9.8 |
Information Technology | 2.5 | 6.3 |
Materials | 0.0 | 4.3 |
Real Estate | 5.4 | 5.9 |
Utilities | 0.0 | 6.8 |
Portfolio Characteristics
as of 10/31/2019
Nuance Concentrated Value Composite | Russell 3000 Value Index | |
Weighted Average Market Cap | 77.0b | 116.3b |
---|---|---|
Median Market Cap | 18.9b | 1.6b |
Price to Earnings (internal and ttm)* | 15.9x | 17.5x |
Dividend Yield | 1.7% | 2.6% |
Return on Equity | 15.8% | 15.4% |
Return on Assets | 5.5% | 5.4% |
Number of Securities | 27 | 2,161 |
Note: Portfolio Statistics provided by Bloomberg and include cash and cash equivalents.
*Based on Nuance internal estimates and benchmarked against the above noted Russell index.
Portfolio Guidelines
Capitalization | All-Cap |
---|---|
Cash Limits1 | 25.00% |
International Limits2 | 25.00% |
Diversification Limits | 50.00% of the portfolio assets will not have positions of greater than 5.00% |
Maximum Position | 15.00% |
Industry Constraints3 | 25.00% |
Number of Companies4 | 15-to-35 |
Absolute Volatility | Less than S&P 500 Index |
Peer Group | All-Cap Value |
Primary Benchmark | Russell 3000 Value Index |
Secondary Benchmarks | S&P 500 Index |
Tracking Error | Appx. 350-1000 bps |
Performance Focus | Absolute Return & Sharpe Ratio vs. Russell 3000 Value Index and S&P 500 Index |
Top 10 Holdings
Travelers Companies Inc. | 6.2 |
---|---|
3M Co. | 5.8 |
Reinsurance Group of America | 5.6 |
Equity Commonwealth | 5.4 |
WABCO Holdings Inc. | 5.4 |
Dentsply Sirona Co. | 4.1 |
Metlife Inc. | 4.0 |
Smith & Nephew PLC Sp ADR | 4.0 |
Alphabet Inc. | 4.0 |
Johnson & Johnson | 3.8 |