SmallCap Division

Portfolio Composition

as of 03/31/2025

Asset Type	Net	Short	Long
U.S. Stocks	96.61%	0.0%	96.61%
Non-U.S. Stocks	2.15%	0.0%	2.15%
Cash	1.21%	0.0%	1.22%
U.S. Bonds	0.03%	0.0%	0.03%
Total	100%

Top 10 Holdings

as of 03/31/2025

What's this?

% of Net Assets

Insmed Inc	2.95
TKO Group Holdings Inc	1.85
Chart Industries Inc	1.77
Agree Realty Corp	1.76
Taylor Morrison Home Corp	1.73
UMB Financial Corp	1.68
Popular Inc	1.58
Life Time Group Holdings Inc	1.54
Lincoln National Corp	1.52
Natera Inc	1.49

Total*: 17.88

*Values may exceed 100% if both long and short positions are included in the portfolio

Morningstar Style Box™

as of 03/31/2025

What's this?

Stock Sector Breakdown

as of 03/31/2025

What's this?

% of Net Assets

Cyclical

36.66

Basic Materials	1.91
Consumer Cyclical	8.46
Financial Svcs	19.76
Real Estate	6.53

Defensive

25.97

Consumer Defensive	6.38
Healthcare	16.49
Utilities	3.10

Sensitive

37.38

Comm Svcs	1.88
Energy	4.87
Industrials	16.42
Technology	14.21

Analysis

as of 03/31/2025

Average Market Cap (mil):	$4,957.56
Price/Earnings Ratio:	13.55
Price/Book Ratio:	1.75
Price/Cash Flow Ratio:	6.00
Turnover Ratio:	33.50%
# Stock Holdings:	127
# Bond Holdings:	0
# Other Holdings:	2
Total # of Holdings:	129

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