Diversified Large Cap Value Equity

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Thomas Glassford
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About Diversified Large Cap Value Equity

The strategy utilizes the same value philosophy and bottom-up investment process employed since our firm’s inception with a broader selection of securities and the flexibility to capture inefficiencies across the market cap of the Russell 1000 Value Index.

Investment Process

Investment Objective:

Seeks to outperform the Russell 1000® Value Index over a full market cycle.

Investment Overview:

As a pure value manager, 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.

Strategy Summary

as of 12/31/2023
Asset Class
US Equity
Investment Style
Value
Portfolio Benchmark
Russell 1000® Value Index
Separate Account
Open

Additional Information

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

Portfolio Characteristics

as of 12/31/2023
Portfolio
Russell 1000® Value Index
S&P 500®
Index
Price / Earnings (NTM)
14.7
15.0
19.7
Price / Book Value
2.5
2.3
4.2
Weighted Average Market Cap ($M)
111,254
139,036
721,661
Median Market Cap ($M)
32,385
12,980
33,180
Dividend Yield
1.9
2.3
1.5

Top 10 Holdings

as of 12/31/2023
Vertiv Holdings Co. Class A
5.4%
Broadcom Inc.
3.2%
CRH Public Limited Company
2.0%
VICI Properties Inc
2.0%
Axalta Coating Systems Ltd.
1.9%
Hess Corporation
1.9%
BWX Technologies, Inc.
1.9%
Oracle Corporation
1.9%
Alphabet Inc. Class C
1.7%
QUALCOMM  Incorporated
1.7%

Sector Weightings

as of 12/31/2023
Financials
23.1%
Industrials
17.9%
Information Technology
15.4%
Consumer Discretionary
12.4%
Health Care
7.9%
Materials
7.0%
Energy
7.0%
Consumer Staples
3.1%
Utilities
2.1%
Real Estate
1.7%
Communication Services
1.5%
Cash
0.8%

Performance

Annualized Portfolio Returns as of 12/31/2023
Qtr*
1 Year
3 Year
5 Year
10 Year
Diversified Large Cap Value Equity - Gross Returns
10.54%
13.82%
11.81%
13.94%
9.71%
Diversified Large Cap Value Equity - Net Returns
10.38%
13.15%
11.15%
13.25%
9.06%
Russell 1000® Value Index
9.50%
11.46%
8.86%
10.91%
8.40%
S&P 500® Index
12.15%
18.40%
14.18%
15.22%
13.88%

* 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.

Portfolio Characteristics

as of 3/31/2023
Portfolio
Russell 1000® Value Index
S&P 500®
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 3/31/2023
Qtr*
1 Year
3 Year
5 Year
10 Year
No items found.
No items found.
No items found.
S&P 500® Index
12.15%
18.40%
14.18%
15.22%
13.88%

* 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.

All opinions expressed in video and thought leadership content constitute Barrow Hanley’s opinion at the time of issuance. The information provided is for informational purposes only and is not intended to be an offer, solicitation, or recommendation with respect to the purchase or sale of any security, nor a recommendation of services supplied by any money management organization. Past performance is not indicative of future results.

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