Copper Rock Small Cap Growth

Product Profile

Asset Class / Style: U.S. Equity / Growth
Benchmark: Russell 2000® Growth Index

Strategy Overview

Top 10 Holdings As of 12/31/2013
The Ultimate Software Group, Inc. 2.4%
West Pharmaceutical Services, Inc. 2.3%
CoStar Group, Inc. 2.2%
The Middleby Corporation 2.1%
Manhattan Associates, Inc. 2.0%
MWI Veterinary Supply, Inc. 1.8%
Comfort Systems USA, Inc. 1.8%
Brunswick Corporation 1.7%
DXP Enterprises, Inc. 1.6%
PolyOne Corporation 1.6%

We believe small cap markets are inefficient and that a fundamental growth approach with a strong sell discipline provides the best opportunity to outperform in all market conditions. We seek to identify the emerging leaders across industries because investing in future market leaders enables us to provide our clients with access to best-of-class companies at an early point in their growth cycle and before widespread investor interest drives valuations upward. Finally, we feel that long term capital appreciation results from growth momentum in the underlying business, and not just in the stock.

Our objective is to outperform the Russell 2000® Growth Index and rank in the top half of the appropriate peer group each year.

Sector Weights As of 12/31/2013
Sectors Copper Rock
Consumer Discretionary 20.3%
Information Technology 18.6%
Industrials 18.0%
Health Care 17.0%
Financials 10.9%
Energy 5.5%
Consumer Staples 4.8%
Materials 2.7%
Telecom Services 1.1%
Cash 0.7%
ETFs 0.5%
Portfolio Characteristics As of 12/31/2013
Characteristics Copper Rock
P/E Ratio 26.1
P/B Ratio 4.23
Weighted Average Market Cap ($B) 2.3
Yield 0.49
3-Year Earnings Per Share Growth 19.14
Current ROE 14.22

Disclosures



Sector allocations use the GICS sector classifications.

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