PERFORMANCE Average Annual Returns (%) for Period Ended 3/31/2014
  QTR YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE
INCEPTION
INCEPTION
DATE
A Shares (NAV) 2.20 2.20 21.20 13.38 19.68 6.61 6.47 12/29/1999
Russell 1000 Value Index 3.02 3.02 21.57 14.80 21.75 7.58 6.31  
Lipper Large-Cap Value Funds Average 2.29 2.29 21.83 13.10 19.83 6.76 6.05  
Characteristics
  March 31, 2014
  Portfolio Benchmark
Number of Holdings 44 664
W. Avg Cap. (mils) $98,315.7 $106,799.9
W. Median Cap (mils) $63,998.2 $50,280.8
P/E 1-year trailing 16.1 15.8
P/E 1-year forward 14.1 14.7
EPS Growth, past 3 years 6.9% 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
43 662
$90,006.9 $108,938.9
$53,733.5 $50,284.4
16.6 15.6
15.3 15.0
7.1% 9.5%
10.1% 9.2%
1.8 1.8
1.5 1.4
2.0% 2.2%
74.6% N/A
December 31, 2012
Portfolio Benchmark
55 696
$89,168.7 $85,052.8
$58,096.7 $32,464.3
11.8 12.5
12.2 12.5
16.1% 19.8%
8.8% 7.5%
1.4 1.5
1.0 1.0
2.5% 2.6%
64.8% N/A
Returns Based Statistics (3 Year)
  March 31, 2014
  Portfolio Benchmark
Average Annual Return 13.38% 14.80%
Standard Deviation 13.23% 13.22%
Beta vs. Market 0.99 1.00
Excess Return -1.42% 0.00%
R-Squared 97.79% 100.00%
Tracking Error 1.97% 0.00%
Information Ratio -0.72 0.00
Sharpe Ratio 1.01 1.11
December 31, 2013
Portfolio Benchmark
14.40% 16.06%
12.95% 12.88%
0.99 1.00
-1.66% 0.00%
97.63% 100.00%
2.00% 0.00%
-0.83 0.00
1.11 1.24
December 31, 2012
Portfolio Benchmark
8.06% 10.86%
15.86% 15.73%
1.00 1.00
-2.80% 0.00%
98.19% 100.00%
2.14% 0.00%
-1.31 0.00
0.50 0.68
Sector Weights / Percentage of Holdings (ex-cash)
  March 31, 2014
  Portfolio Benchmark + / -
Consumer Disc. 9.62% 6.41% 3.21%
Consumer Staples 6.57% 5.83% 0.74%
Energy 12.60% 14.53% -1.93%
Financials 25.27% 29.09% -3.82%
Health Care 13.36% 13.53% -0.18%
Industrials 10.13% 10.17% -0.04%
Information Tech 10.59% 8.96% 1.63%
Materials 4.79% 2.94% 1.86%
Telecomm Services 5.46% 2.47% 2.99%
Utilities 1.62% 6.08% -4.46%
December 31, 2013
Portfolio Benchmark + / -
10.19% 6.57% 3.62%
6.58% 5.90% 0.67%
12.11% 15.03% -2.92%
26.09% 28.97% -2.88%
12.81% 12.92% -0.11%
9.50% 10.50% -1.00%
9.96% 8.92% 1.04%
5.91% 2.93% 2.98%
5.00% 2.52% 2.48%
1.85% 5.74% -3.88%
December 31, 2012
Portfolio Benchmark + / -
12.86% 8.27% 4.60%
7.09% 7.18% -0.08%
15.97% 16.14% -0.17%
23.74% 27.47% -3.73%
11.70% 11.53% 0.17%
6.29% 9.15% -2.87%
9.41% 6.39% 3.02%
5.94% 3.93% 2.01%
2.99% 3.41% -0.42%
4.00% 6.54% -2.53%
Top Ten Holdings / Percentage of Net Assets
March 31, 2014
GENERAL ELECTRIC CO 3.31%
CAPITAL ONE FINANCIAL CORP 3.19%
OCCIDENTAL PETROLEUM CORP 3.16%
MARATHON OIL CORP 3.12%
DEVON ENERGY CORPORATION 3.09%
PFIZER INC 2.94%
CVS CAREMARK CORP 2.88%
BANK OF AMERICA CORP 2.76%
TIME WARNER INC 2.71%
AT+T INC 2.65%
Total 29.82%
December 31, 2013
GENERAL ELECTRIC CO 3.42%
CAPITAL ONE FINANCIAL CORP 3.30%
DOW CHEMICAL CO/THE 3.29%
OCCIDENTAL PETROLEUM CORP 3.28%
MARATHON OIL CORP 3.23%
TYCO INTERNATIONAL LTD 3.15%
PNC FINANCIAL SERVICES GROUP 3.09%
BB+T CORP 3.09%
DEVON ENERGY CORPORATION 2.97%
CITIGROUP INC 2.97%
Total 31.81%
December 31, 2012
GOOGLE INC CL A 2.51%
GLAXOSMITHKLINE PLC SPON ADR 2.48%
PNC FINANCIAL SERVICES GROUP 2.48%
TARGET CORP 2.48%
PFIZER INC 2.48%
DIRECTV 2.44%
EXXON MOBIL CORP 2.44%
LOWE S COS INC 2.44%
OCCIDENTAL PETROLEUM CORP 2.42%
ROYAL DUTCH SHELL PLC ADR 2.34%
Total 24.50%
PERFORMANCE ATTRIBUTIONRelative to the Russell 1000 Value Index for the quarter ending 3/31/2014
Performance Attribution Chart
Latest Quarter Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Financials 25.48% 29.12% 2.56% 3.54% -0.02% -0.25% -0.27%
Energy 14.45% 14.56% 3.15% -0.17% 0.03% 0.48% 0.51%
Health Care 13.38% 13.41% 2.03% 8.15% -0.00% -0.80% -0.80%
Industrials 10.54% 10.32% 0.08% -0.07% 0.02% 0.02% 0.04%
Consumer Disc. 9.93% 6.48% -0.62% -2.01% -0.17% 0.13% -0.04%
Information Tech 8.25% 8.99% 5.49% 3.62% 0.00% 0.16% 0.16%
Consumer Staples 6.43% 5.84% 3.57% 1.80% -0.01% 0.11% 0.10%
Materials 5.34% 2.93% 7.82% 3.26% 0.00% 0.25% 0.26%
Telecomm Services 4.92% 2.41% 1.13% 1.54% -0.01% -0.03% -0.05%
Utilities 1.29% 5.95% 7.37% 9.66% -0.27% -0.01% -0.28%
Total 100.00% 100.00% 2.65% 3.02% -0.42% 0.05% -0.37%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Exxon Mobil Corporation Energy 0.29%
PNC Financial Services Group, Inc. Financials 0.26%
Dow Chemical Company Materials 0.20%
Chevron Corporation Energy 0.19%
Devon Energy Corporation Energy 0.16%
DIRECTV Consumer Disc. 0.15%
BB&T Corporation Financials 0.14%
TE Connectivity Ltd. Information Tech 0.12%
Microsoft Corporation Information Tech 0.12%
Covidien Plc Health Care 0.12%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Energy Underweight 0.03%
Industrials Overweight 0.02%
Materials Overweight 0.00%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
PNC Financial Services Group, Inc. Financials 0.35%
Bank of America Corporation Financials 0.29%
Dow Chemical Company Materials 0.28%
Devon Energy Corporation Energy 0.28%
Merck & Co., Inc. Health Care 0.27%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
Zoetis, Inc. Class A Health Care -0.42%
Wells Fargo & Company Financials -0.17%
Citigroup Inc. Financials -0.16%
Target Corporation Consumer Disc. -0.16%
Comcast Corporation Class A Consumer Disc. -0.15%
Johnson & Johnson Health Care -0.12%
WellPoint, Inc. Health Care -0.10%
Time Warner Inc. Consumer Disc. -0.10%
Goldman Sachs Group, Inc. Financials -0.10%
Forest Laboratories, Inc. Health Care -0.09%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Utilities Underweight -0.27%
Consumer Disc. Overweight -0.17%
Financials Underweight -0.02%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Zoetis, Inc. Class A Health Care -0.34%
Citigroup Inc. Financials -0.27%
General Electric Company Industrials -0.25%
Target Corporation Consumer Disc. -0.10%
Goldman Sachs Group, Inc. Financials -0.09%
PERFORMANCE ATTRIBUTIONRelative to the Russell 1000 Value Index for the period ending 3/31/2014
Performance Attribution Chart
1-Year Attribution

Sector
Portfolio
Average Weight
Benchmark
Average Weight
Portfolio
Return
Benchmark
Return
Sector
Selection
Stock
Selection
Total
Effect
Financials 25.85% 28.86% 32.07% 23.32% 0.08% 2.27% 2.35%
Energy 15.59% 15.00% 21.67% 12.87% 0.03% 1.29% 1.31%
Health Care 12.91% 12.84% 22.76% 28.74% 0.04% -0.61% -0.57%
Consumer Disc. 10.33% 6.96% 19.25% 25.63% 0.16% -0.65% -0.49%
Industrials 8.59% 9.83% 18.16% 27.15% -0.10% -0.62% -0.72%
Information Tech 7.47% 8.32% 21.61% 31.28% -0.04% -0.50% -0.53%
Consumer Staples 7.28% 6.29% 18.64% 15.95% 0.06% 0.10% 0.16%
Materials 4.94% 3.03% 30.33% 21.36% 0.02% 0.34% 0.36%
Telecomm Services 3.90% 2.68% 5.50% 6.38% -0.16% -0.06% -0.23%
Utilities 3.15% 6.19% 3.43% 10.00% 0.31% -0.26% 0.05%
Total 100.00% 100.00% 23.16% 21.48% 0.39% 1.29% 1.69%
Top 10 Stock Contributors to Relative Return
Company Sector Impact
Dow Chemical Company Materials 0.74%
Microsoft Corporation Information Tech 0.55%
Chevron Corporation Energy 0.47%
Capital One Financial Corporation Financials 0.46%
Hartford Financial Services Group, Inc. Financials 0.44%
E. I. du Pont de Nemours and Company Materials 0.43%
TE Connectivity Ltd. Information Tech 0.38%
Exxon Mobil Corporation Energy 0.37%
Tyco International Ltd. Industrials 0.36%
WellPoint, Inc. Health Care 0.33%
Top 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Utilities Underweight 0.31%
Consumer Disc. Overweight 0.16%
Financials Underweight 0.08%
 
Top 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Dow Chemical Company Materials 1.33%
Capital One Financial Corporation Financials 1.14%
CVS Caremark Corporation Consumer Staples 1.00%
Microsoft Corporation Information Tech 0.95%
Bank of America Corporation Financials 0.93%
Bottom 10 Stock Contributors to Relative Return
Company Sector Impact
Target Corporation Consumer Disc. -0.70%
International Business Machines Corporation Information Tech -0.55%
Zoetis, Inc. Class A Health Care -0.49%
Newmont Mining Corporation Materials -0.45%
Barrick Gold Corporation Materials -0.44%
Southern Company Utilities -0.43%
Unilever NV ADR Consumer Staples -0.39%
ADT Corporation Industrials -0.37%
Marathon Oil Corporation Energy -0.35%
eBay Inc. Information Tech -0.29%
Bottom 3 Sector Contributors to Relative Return
Sector Relative Weight Impact
Telecomm Services Overweight -0.16%
Industrials Underweight -0.10%
Information Tech Underweight -0.04%
 
Bottom 5 Stock Contributors to Absolute Return
Stock Name Sector Contribution
Newmont Mining Corporation Materials -0.52%
Barrick Gold Corporation Materials -0.45%
Target Corporation Consumer Disc. -0.23%
Zoetis, Inc. Class A Health Care -0.21%
ADT Corporation Industrials -0.19%

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. The Fund's value-oriented investing approach may fall out of favor with investors from time to time, during which the Fund 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.

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