Capital Income

Characteristics
As of 09/30/2017
ASSET MIX (%)1
Common Stock 56.4
Bonds 38.8
Preferred/Convertibles 0.7
Cash & Equivalents 0.9
Other 3.2
EQUITY STATISTICS
  Portfolio S&P 500
Projected P/E (FY2) 9.2x 17.2x
Price/Normal Earnings 7.5x 18.1x
Price/Book 1.2x 3.1x
Dividend Yield 2.5% 1.9%
Weighted Average
Market Capitalization (millions)
$51,489 $174,861
Median Market Capitalization
(millions)
$7,822 $21,094
Number of Stocks 71 500
TOP TEN EQUITY HOLDINGS (%)1
American International Group Inc. 2.7
Hewlett Packard Enterprise 2.6
Popular Inc. 2.0
Royal Mail PLC 1.8
Fifth Street Asset Management Inc. 1.6
WestJet Airlines 1.6
Whiting Petroleum Corp. 1.6
Wells Fargo & Co. 1.6
BAE Systems PLC 1.5
Ericsson 1.5
BOND CREDIT QUALITY (%)
Cash & Equivalents 4.3
Investment Grade 2.2
BB 34.5
B 49.8
CCC+ or lower 8.0
Non-Rated 3.4
Credit Default Swap Index -2.2
BOND STATISTICS
  Portfolio ICE BofAML US
Corp/Govt/Mtg
Yield-to-Worst 6.7% 2.5%
Modified Duration 3.2 years 6.2 years
Spread over Treasuries 466 bps 38 bps
Average Coupon Rate 7.1% 3.2%
Number of Issuers 144 1,684
TOP FIVE BOND HOLDINGS (%)1
  Portfolio Coupon
Rate
Maturity
Date
Lonestar Resources America Inc. 1.5 8.750% 04/15/2019
Kosmos Energy Ltd. 0.9 7.875% 08/01/2021
Cobalt Int'l Energy Inc. 0.8 10.750% 12/01/2021
McDermott Int'l Inc. 0.6 8.000% 05/01/2021
Horsehead Holding Corp. 0.5 -- --

 

% of Total Portfolio
ICE BofAML US Corp/Govt/Mtg = ICE BofAML U.S. Corporate, Government and Mortgage Index

Data source: Hotchkis & Wiley, FactSet, Bloomberg; The ICE BofAML Indices were known as the BofA Merrill Lynch Indices prior to October 23, 2017.

Information provided is based on representative portfolio of the Capital Income strategy. Statistics and holdings may vary due to different restrictions, cash flows, and other relevant considerations. Holdings identified do not represent all of the securities purchased, sold, or recommended for advisory clients, and may not be indicative of current or future holdings or trading activity. Securities shown in aggregate may represent only a limited portion of an account’s portfolio holdings. No assumptions should be made that companies identified, or all investment decisions were, or will be profitable. A complete list of portfolio holdings is available upon request. Statistics presented may be based on proprietary or third-party estimates, which are subject to change and cannot be guaranteed. Investing in high yield securities is subject to certain risks, including market, credit, liquidity, issuer, interest-rate, inflation, and derivatives risks.  Lower-rated and non-rated securities involve greater risk than higher-rated securities.  Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods. Information supplemental to strategy’s GIPS Compliant Presentation.

Credit Quality weights by rating were derived from the highest bond rating as determined by S&P, Moody's or Fitch. In limited situations when none of the three rating agencies have issued a formal rating, the Advisor will determine an internal rating.

Index definitions

Glossary of financial terms