Portfolio

Sector Weightings1

As of 12/31/18

Fund Data

As of 12/31/18

Total Net Assets $111.1M
Inception Date 6/30/10
Average Market Cap $44.2B
Number of Holdings 22
Distribution Frequency Annually
Ticker – Investor Class MOATX
Ticker – Class C CASTX

Portfolio Characteristics3

For the five years ending 12/31/18

Alpha -0.18
Beta 0.52
Standard Deviation 6.71
Up Capture 56.08
Down Capture 58.14
R Squared 70.44

Top Ten Holdings1

As of 12/31/18

Cash & Cash Equivalents2 27.85%
Sanofi SA (ADR) 5.47%
Dominion Energy Inc. 5.47%
Enbridge, Inc. 5.17%
Royal Gold, Inc. 5.01%
Brookfield Asset Management, Inc. 4.49%
Berkshire Hathaway, Inc. – Class B 4.23%
Loews Corporation 3.89%
Anheuser-Busch InBev SA/NV – ADR 3.55%
CVS Health Corporation 3.54%

1. Percent of Fund’s total net assets

2. Represents cash equivalents and other assets less liabilities

3. Alpha measures the excess return of an investment vehicle, such as a mutual fund, relative to the return of its benchmark, given its level of risk (as measured by beta). Beta is a measure of the portfolios sensitivity to the market. Standard deviation is use to measure an investment’s historic volatility. The up capture and down capture ratios are statistical measures of a manager’s overall performance in upward moving and downward moving markets, respectively. R-Squared is a statistical measure that represents the percentage of a fund or security’s movements that can be explained by movements in a benchmark index.