PERFORMANCE Average Annual Returns (%) for Period Ended 3/31/2014
  QTR YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE
INCEPTION
INCEPTION
DATE
Portfolio 2.28 2.28 21.91 14.05 20.42 7.13 10.05 8/15/1984
Russell 1000 Value Index 3.02 3.02 21.57 14.80 21.75 7.58 n/a  
Lipper VA Large-Cap Value Funds Average 2.32 0.22 21.91 13.60 20.62 7.03 9.72  
Characteristics
  March 31, 2014
  Portfolio Benchmark
Number of Holdings N/A 664
W. Avg Cap. (mils) $99,014.5 $106,799.9
W. Median Cap (mils) $63,998.2 $50,280.8
P/E 1-year trailing 16.0 15.8
P/E 1-year forward 14.1 14.7
EPS Growth, past 3 years 7.0% 10.2%
EPS Growth, next 3 - 5 years 9.8% 9.6%
Price to Book 1.8 1.8
Price to Sales 1.6 1.4
Dividend Yield 2.1% 2.2%
Active Share 73.5% N/A
December 31, 2013
Portfolio Benchmark
N/A 662
$88,555.1 $108,938.9
$53,733.5 $50,284.4
16.7 15.6
15.3 15.0
7.2% 9.5%
10.1% 9.2%
1.8 1.8
1.5 1.4
2.0% 2.2%
75.1% N/A
December 31, 2012
Portfolio Benchmark
N/A 696
$89,701.9 $85,052.8
$59,173.1 $32,464.3
11.9 12.5
12.2 12.5
16.4% 19.8%
8.7% 7.5%
1.4 1.5
1.0 1.0
2.5% 2.6%
65.0% N/A
Returns Based Statistics (3 Year)
  March 31, 2014
  Portfolio Benchmark
Average Annual Return 14.04% 14.80%
Standard Deviation 13.25% 13.22%
Beta vs. Market 0.99 1.00
Excess Return -0.76% 0.00%
R-Squared 97.79% 100.00%
Tracking Error 1.98% 0.00%
Information Ratio -0.38 0.00
Sharpe Ratio 1.05 1.11
December 31, 2013
Portfolio Benchmark
15.05% 16.06%
12.98% 12.88%
1.00 1.00
-1.01% 0.00%
97.63% 100.00%
2.00% 0.00%
-0.50 0.00
1.15 1.24
December 31, 2012
Portfolio Benchmark
8.69% 10.86%
15.73% 15.73%
0.99 1.00
-2.18% 0.00%
98.24% 100.00%
2.09% 0.00%
-1.04 0.00
0.55 0.68

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Portfolio or the Portfolio could underperform because of the following risks: the stock market may fall in value, causing the prices of stocks held by the Portfolio to fall; individual investments of the Portfolio may not perform as expected; and/or the Portfolio's portfolio management practices may not achieve the desired result. The Portfolio's value-oriented investing approach may fall out of favor with investors from time to time, during which the Portfolio may underperform other funds using different investment approaches. In addition, the market may not recognize a security's intrinsic value for a long time, or a stock judged to be undervalued may actually be appropriately priced, and it may not appreciate as anticipated. Large-cap companies may be unable to respond quickly to new competitive challenges, such as changes in technology, and also may not be able to attain the high growth rate of successful smaller companies, especially during extended periods of economic expansion.

I800ATT FOR INSTITUTIONAL INVESTOR AND BROKER/DEALER USE ONLY. NOT FOR PUBLIC DISTRIBUTION.