Portfolio

As of December 31, 2016

Punch Small Cap

Russell 2000

Wtd. Avg. Market Cap: $935m $2,110m
Median Market Cap: $662m $805m
Number of Positions: 47 2000
Trailing P/E: 27.79  43.04
Price to Cash Flow: 11.77 12.93
Debt to Equity: 81.22 116.52
Price to Book: 2.13 2.28

We chose to use median data to eliminate the effect of extreme numbers and also believe it is more representative of company valuations. Data assembled from Bloomberg L.P.

 

Sector Exposure

As of December 31, 2016

Punch Small Cap

Russell 2000

Consumer Discretionary 21.74% 12.55%
Industrials 18.82% 14.61%
Financials 23.27% 19.88%
Telecommunications 3.54% 0.75%
Energy 5.55% 3.76%
Consumer Staples 2.40% 2.97%
Technology 14.58% 16.99%
Materials 2.38% 4.88%
Utilities 0.00% 3.54%
Real Estate 1.92% 7.93%
Health Care  4.42% 12.15%