ALPHAONE FUNDAMENTAL MICRO CAP CORE

Strategy & Objective

The investment team, led by Senior Portfolio Manager Daniel Goldfarb, employ a fundamentally-driven, growth-at-a-reasonable price investment philosophy when targeting U.S. micro cap companies with competitive positions, and the potential for sustained growth over the next several years.


Annual Returns


FACT SHEET

The performance data quoted represents past performance. Past performance does not guarantee future results.

The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Index performance quoted is shown for illustrative purposes only, does not represent actual account performance and is not meant to forecast, imply or guarantee future account performance. An index is unmanaged and cannot be invested in directly. Performance data for the indices is gross and does not reflect and deduction for fee, transaction costs or other expenses that an investor would pay if invested in an account directly.

All data as of prior quarter end, and all returns are net-of-fees.

Data provided by FactSet.

Strategy Details
Strategy Equity Long
Benchmark Russell 2000
Inception 4/30/1994
Turnover 69%
Weighted Avg Mkt Cap $958M
Investment Team
Daniel Goldfarb Sr Portfolio Mgr
Steven Dray Senior Portfolio Mgr
Christopher Crooks Portfolio Mgr
Constantine Davides Senior Healthcare Analyst

Top 5 Holdings
Natus Medical Inc.2.71%
PDF Solutions, Inc.2.61%
Del Frisco's Restaurant Group, Inc.2.51%
CRA International, Inc.2.45%
On Assignment, Inc.2.44%

Annual Returns




Trailing Returns (Periods greater than one years are annualized)


FACT SHEET

The performance data quoted represents past performance. Past performance does not guarantee future results.

The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Index performance quoted is shown for illustrative purposes only, does not represent actual account performance and is not meant to forecast, imply or guarantee future account performance. An index is unmanaged and cannot be invested in directly. Performance data for the indices is gross and does not reflect and deduction for fee, transaction costs or other expenses that an investor would pay if invested in an account directly.

All data as of prior quarter end, and all returns are net-of-fees.

Data provided by FactSet.

Return Analysis3YR5YR
Annualized return13.418.46
Total return45.83133.28
Average return1.161.52
Avg upmarket return3.774.13
Avg downmarket return(2.94)(2.99)
Downside capture85.6571.69
Upside capture90.4884.52
Risk Analysis3YR5YR
Annualized stdev15.5815.59
Upside deviation12.8213.71
Downside deviation9.959.12
MPT Statistics3YR5YR
Alpha0.711.98
Beta0.870.81
Correlation0.930.94
Sharpe ratio0.851.18

Sector Composition**




Value & Growth Characteristics**Fundamental Micro Cap CoreRussell 2000
Price/Earnings16.517.6
Price/Book2.52.3
Price/Sales2.12.1
Price/Cash Flow12.912.6
ROA6.03.6
ROE7.97.8

FACT SHEET

The performance data quoted represents past performance. Past performance does not guarantee future results.

The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Index performance quoted is shown for illustrative purposes only, does not represent actual account performance and is not meant to forecast, imply or guarantee future account performance. An index is unmanaged and cannot be invested in directly. Performance data for the indices is gross and does not reflect and deduction for fee, transaction costs or other expenses that an investor would pay if invested in an account directly.

All data as of prior quarter end, and all returns are net-of-fees.

Data provided by FactSet.

Asset Allocation**
Market Cap Exposure**
Top 10 Holdings*
Natus Medical Inc.2.71%
PDF Solutions, Inc.2.61%
Del Frisco's Restaurant Group, Inc.2.51%
CRA International, Inc.2.45%
On Assignment, Inc.2.44%
Kirkland's Inc.2.40%
Altra Inductiral Motion Corp.2.36%
CECO Environmental Corp.2.35%
Panhandle Oil & Gas Inc.2.29%
RPC, Inc.2.21%