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Mid Cap Value Equity

Spectrum #9
Susie Rosamin
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About Mid Cap Value Equity
A valuation centric strategy designed to benefit from inefficiencies and opportunities within the less covered mid cap universe.

The strategy focuses on securities that are not widely followed by industry analysts, giving us a greater opportunity to seek out undervalued companies utilizing our internal in-depth research. The extensive experience of our investment team, both in absolute terms and in years working together, brings value to the qualitative component of the decision-making process.

Investment Process

Investment Objective:

Seeks to outperform the Russell Midcap® Value Index over a full market cycle.

Investment Overview:

We seek to invest in stocks of good companies with a unique combination of cheapness, change and asymmetric return profiles. In our valuation framework, we strive to construct portfolios that trade at levels below the market across multiple metrics including (P/E, P/B, EV/EBITDA) while simultaneously delivering an above-market dividend yield.

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Strategy Summary

as of 9/30/2024
date format is m/dd/yyyy
Asset Class
US Equity
Investment Style
Value
Portfolio Benchmark
Russell Midcap® Value Index
Separate Account
Open

Additional Information

No items found.
Active Value
2023 Mid Cap Value Equity Composite GIPS® Disclosures

Media Spotlight

Mark Giambrone Discusses Midterm Elections and Markets on Fox Business
November 7, 2018
View on FoxBusiness.com
Mark Giambrone Discusses Market Trends on CNBC
November 6, 2018
View on CNBC.com>

Media Spotlight

Mark Giambrone notes why he believes we’re in the ‘early innings’ of the value cycle
July 29, 2021

Characteristics

as of 9/30/2024
date format is m/dd/yyyy
BH MCV
Russell Midcap® Value Index
Russell Midcap® Index
Price / Earnings (NTM)
15.9
16.1
17.6
Price / Book Value
2.4
2.4
2.9
Weighted Average Market Cap ($M)
13,895.1
25,195.0
26,313.0
Median Market Cap ($M)
10,678.6
10,930.9
11,309.8
Dividend Yield (%)
1.7
1.8
1.5

Top 10 Holdings

as of 9/30/2024
Knife River Corporation
3.9%
CubeSmart
3.5%
CACI International Inc Class A
3.2%
Carnival Corporation
3.2%
Pinnacle West Capital Corporation
3.2%
Entergy Corporation
3.1%
CenterPoint Energy, Inc.
3.0%
Jefferies Financial Group Inc.
3.0%
MDU Resources Group, Inc.
2.9%
Mid-America Apartment Communities, Inc.
2.9%

Sector Weightings

as of 9/30/2024
Industrials
23.9%
Financials
14.3%
Consumer Discretionary
13.7%
Materials
9.4%
Utilities
9.2%
Real Estate
9.1%
Information Technology
6.8%
Energy
5.6%
Health Care
4.8%
Communication Services
2.3%
Cash
1.0%
Consumer Staples
0.0%

Performance

Annualized Returns as of 9/30/2024
date format is m/dd/yyyy
Qtr*
1 Year
3 Year
5 Year
10 Year
BH Mid Cap Value Equity - Gross Returns
11.47%
31.81%
12.00%
14.01%
10.15%
BH Mid Cap Value Equity - Net Returns
11.27%
30.85%
11.16%
13.15%
9.33%
Russell Midcap® Value Index
10.08%
29.01%
7.39%
10.33%
8.93%
Russell Midcap® Index
19.91%
17.10%
11.61%
13.40%
12.41%

*Most recent quarter returns are not annualized. Past performance is not indicative of future results. The value of an investment can go down as well as up as a result of market and currency fluctuations.

Portfolio Characteristics

as of 3/31/2023
Portfolio
Russell Midcap® Value Index
Russell Midcap® Index
No items found.

Top 10 Holdings

as of 3/31/2023
No items found.

Sector Weightings

as of 3/31/2023
No items found.

Performance

Annualized Portfolio Returns as of 6/30/2023
Qtr*
1 Year
3 Year
5 Year
10 Year
No items found.
No items found.
No items found.

*Most recent quarter returns are not annualized. Past performance does not guarantee future results and there is no assurance that the Strategy will achieve its investment objective.

Disclosure

Sources for data noted above are from APX and FactSet as of the date specified. Material presented is based on the composite and not an individual account.

Barrow Hanley gross returns are shown before investment management fees and custody expenses. Index returns do not reflect transaction costs, management fees, and other expenses. Performance is expressed in U.S. currency. Net returns are calculated using a model fee. The model fee is based on the highest tier of our standard fee schedule. Barrow, Hanley, Mewhinney & Strauss, LLC claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. The data presented may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is prepared by Barrow Hanley. Russell Investment Group is not responsible for the formatting or configuration of this material or for any inaccuracy in Barrow Hanley's presentation thereof.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s, a division of The McGraw Hill Companies, Inc. (“S&P”) and is licensed for use by Barrow, Hanley, Mewhinney & Strauss, LLC. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification.  Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

All institutional product information has been provided by Barrow, Hanley, Mewhinney & Strauss, LLC. Any questions about this material or requests for additional information may be made directly to the firm by contacting us here.

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