the v line · 2014-07-10 · all investors must read applicable prospectuses before investing. 2...

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The Value Line Fund Advisor.Volume XIX, Number 9.

Customer Service: 800-634-3583.The Value Line Fund Advisor(USPS# 012-951) is published monthly by Value LinePublishing LLC, 485 Lexington Avenue, New York, NY10017-2630. Subscription rate for 12 issues in the UnitedStates and US possessions: $199.00. Foreign rates upon re-quest. Periodicals postage paid at New York, NY.Canadian GST #127621837.

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© 2013 Value Line Publishing LLC. All rights reserved. Fac-tual material is obtained from sources believed to be reli-able and is provided without warranties of any kind. THEPUBLISHER IS NOT RESPONSIBLE FOR ANY ERRORSOR OMISSIONS HEREIN OR ANY DAMAGES ORLOSSES ARISING FROM ANY USE OF THE INFORMA-TION CONTAINED HEREIN. This publication is strictly forsubscriber's own, non-commercial, internal use. No part ofit may be reproduced, stored or transmitted in any printed,electronic or other form, or used for generating or market-ing any printed or electronic publication, service or product.Officers, directors, or employees of Value Line, Inc. and itsaffiliates and subsidiaries, and EULAV Asset Management,may own stocks that are featured in this publication. Noth-ing herein should be construed as an offer to buy or sellsecurities or to give individual investment advice. Value Line,the Value Line logo, The Value Line Investment Survey, ValueLine Select, Timeliness and Safety are trademarks or reg-istered trademarks of Value Line Inc. and/or its affiliates inthe United States and other countries. All other trademarksare the property of their respective owners. Value Line Geo-metric and Arithmetic Indices calculated by ThomsonReuters. Information supplied by Thomson Reuters.

Certain data items provided by CDA Wiesenberger.

Volume XIX, Number 9 September 2013

In This IssueFund Highlights and Discussion 2

Short-List Picks:Small-Cap Growth 6

Mutual Fund Short List 8

Mutual Fund Directory 9

Fund Index 10

Fund Screens 38

Benchmark PerformanceAverages 48

The business outlook appears to be im-proving, not all at once, to be sure, but infairly consistent fashion, following years inwhich growth came in fits and starts. High-lighting this greater uniformity was thereport of a stronger-than-expected June-quarter advance of 2.5% in the nation’sgross domestic product. This improvement,together with recent reports showing furthergains in consumer confidence, manufac-turing, the leading indicators, andhomebuilding, underlies our sense thatgrowth will stay well above 2% in the cur-rent quarter, as well.

We probably are in a period of sustainableeconomic growth, with GDP likely gaining2.5%, or so, over the final months of 2013,and then tacking on nearly 3% in 2014. Be-hind this likely improvement figures to beaccelerating job growth, continued modestgains in consumer spending, generally sup-portive housing metrics, and a decent indus-trial performance.

There are still uncertainties to contendwith, as we move into the final months ofthis year. Heading the list of unknowns, at

Economic and Stock Market Commentaryleast in the short run, was the possibility of afuture U.S. military strike against Syria (asthis report was being prepared) and its impacton oil prices. Then, there is the Federal Re-serve, and its likely adoption of a less-accom-modative monetary course going forward. Theeconomic stability that we envision is, in part,conditioned on no worse than a mildly disrup-tive outcome on these fronts. Meanwhile . . .

Political issues also will play a role in thecoming months, notably how the latestdebt-ceiling drama plays out in Washington,with both sides gearing up for a showdownnext month. Here, as well, a fairly benignsolution will be needed in order to sustainthe durable up cycle we now see evolving.

Investors remain a hardy lot, as they haveresisted the temptation so far to deal thevenerable bull market a serious blow. In fact,even with a less-than-stellar August, theleading equity averages retain double-digitpercentage gains for the year to date.

Conclusion: There is a lot going right at thistime, but there are also possible headwindsthat investors might not want to ignore.

Dear Subscribers,

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strained by print, we have used the power of the Internet to allow you to quickly screen

through thousands of mutual funds to locate those that you find most interesting—not just

those we have space to print—with information that is updated as often as daily. Moreover,

each fund has a report that can be printed for your future reference. Simply log on to

www.valueline.com with your user name and password to print reports on thousands of

mutual funds. We hope you enjoy this major product enhancement.

Thank you

© 2013 Value Line Publishing LLC. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOTRESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmittedin any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

2 S E P T E M B E R 2 0 1 3

T H E V A L U E L I N E F U N D A D V I S O R

80

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.50

Rising Line − Stronger Than Objective

Declining Line − Weaker Than Objective

Total ReturnPerformance of $10K InvestmentInitial Investment 10/31/2002: $9,475.Value at 8/31/2013: $49,324.FundS&P500▼ Manager Change▲ Major Policy ChangeBottom Graph is Relative Strength ofFund Versus Objective.Recessions occurred 6/90−3/91, 3/01−11/01.

BLACKROCK HEALTH SCIENCES OPPS A SHSAX Health LG 0.2% 39.74 1600.0 page

1(Highest)

2(Lower Risk)

12.1%

Fund Obj. S&P 500Bull 2/09 - 7/13 +145.7% +150.1% +151.9%Bear 10/07 - 2/09 -26.6% -34.7% -51.0%Bull 9/02 - 10/07 - +85.0% +108.3%

Address: 40 East 52nd Street, New York, NY 10022Advisor: BlackRock Advisors, LLCSub-Advisor: NoneWeb Site: www.blackrock.com

Fiscal Year-End: SeptemberMin. Initial Invest: $1,000Min. Subsequent Invest: $50Min. IRA Invest: $100Telephone Exchanges: YesTel. Redemption: YesInternet Investing: Yes

Telephone: 800 441-7762Began Operations: 10/28/02# Funds in Family: 111Syst. Withdrawal: YesAuto. Investing: YesLast Capital Gain: 12/12/12Dividends Paid: Annually

6/30/13 3/31/13Port. Rel. Port. Rel.

% S&P500 % S&P500Consumer Durables - - - -Energy - - - -Finance ▲ 6.7 0.44 5.0 0.34Industrial Cyclical ▼ 4.2 0.35 7.3 0.61Non-Durable - - - -Retail Trade ▼ 4.0 0.50 4.5 0.59Health ▼57.9 6.65 60.4 6.85Services ▼10.7 4.79 11.6 5.00Technology ▼ 4.9 0.20 5.6 0.22Utilities - - - -

COMPOSITION as of 6/30/13

Stock 98Preferreds -Cash 7

Convts. -Bonds -Other -5

%Foreign 6%Hedged -# Stocks 84

As of 6/30/13 Port. Avg. % Stock Rel. S&P 500 Rel. Obj.

Price/Earnings 25.46 44 0.98 0.90Price/Book 5.72 65 1.34 1.045-Yr.Earn.Growth % 14.51 32 1.36 0.98Avg.Mkt.Cap.($Mil.) 62,787 88 0.60 1.27

Top 25 Equity Holdings VL Shares Value %Net

As of 6/30/13 Rank* Held ($000) Assets

JOHNSON & JOHNSON 3 1388300 119199 4.53

AMGEN INC 3 1075810 106139 4.04

PFIZER INC 3 3782340 105943 4.03

CELGENE CORP 4 859952 100537 3.82

NOVARTIS AG ADR 4 1385600 98143 3.73

BRISTOL MYERS SQUIBB CO 5 1823700 81501 3.10

GILEAD SCIENCES INC 4 1555356 79650 3.03

SANOFI ADR 5 759900 78558 2.99

ROCHE HOLDINGS INC - 315800 78381 2.98

ABBVIE INC - 1788800 73949 2.81

UNIVERSAL HLTH SERVICES 3 956500 64047 2.44

MERCK & CO 4 1255300 58309 2.22

MEDTRONIC INC 3 1126900 58002 2.21

UNITEDHEALTH GROUP INC 3 844482 55297 2.10

STRYKER CORP 3 829200 53633 2.04

ELI LILLY & CO 3 1028900 50540 1.92

BAXTER INTL INC 3 668500 46307 1.76

COOPER COS INC - 359400 42787 1.63

AETNA INC 3 659623 41912 1.59

REGENERON PHARMACEUTICALS 4 172422 38774 1.47

SEATTLE GENETICS INC - 1139918 35862 1.36

BECTON DICKINSON & CO 3 362000 35776 1.36

CIGNA CORP 2 487000 35303 1.34

HCA HOLDINGS INC 3 955500 34455 1.31

BAYER AG - 319200 33985 1.29

*Latest available Timeliness ™ rank from Value Line Investment Survey.

Erin Xie 7/03 6.6Thomas P. Callan 1/05

■−

TAX STATUS 6/30/13

Unrealized Apprec. % 22

Year 1st Q 2nd Q 3rd Q 4th Q

2009 -4.4 10.8 11.5 7.72010 6.0 -11.0 7.8 5.32011 7.1 5.0 -12.1 7.22012 10.3 0.8 6.3 0.22013 17.5 1.7 -- --

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 8/13 HISTORICAL ARRAY12.10 19.51 21.26 24.21 25.86 30.01 21.76 27.69 28.34 28.48 31.42 39.74 Bid Price (NAV)0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.10 0.00 Dividends ($)0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28 0.23 12-Mo. Div. Yield (%)0.00 0.64 1.07 0.62 0.35 1.12 2.31 0.00 1.30 1.49 2.22 0.00 Cap. Gains ($)

- - - - 1.34 1.35 1.35 1.37 1.31 1.31 1.29 1.24 Expense Ratio (%)- - - - 0.78 0.79 0.80 0.68 0.75 0.80 0.80 0.81 Exp.Ratio Rel. to Obj.- - - - 157 98 91 153 184 135 135 135 Turnover (%)- - - - 434.4 727.6 414.9 539.3 682.9 825.0 1018.4 1600.0 Net Assets ($Mil.)- 66.6 14.6 16.8 8.2 20.3 -19.3 27.3 7.2 6.0 18.4 26.5 Total Return (%)- 37.9 3.7 11.9 -7.6 14.9 17.7 0.8 -7.9 3.9 2.4 10.3 +/- S&P 500 (%)- 36.1 5.8 7.9 4.5 11.5 4.4 5.4 -0.9 -1.8 -0.9 -2.2 +/- to Obj. (%)- 39.1 7.7 11.0 1.2 8.3 19.7 -5.2 -7.5 9.5 4.3 15.2 +/- to Peer (%)

- ■1 ■2 ■1 ■2 ■1 ■2 ■2 ■3 ■4 ■3 ■3 Quintile Perf. Rel. to Obj.

PERFORMANCE (8/31/13)

Value Est. Taxes ValueTotal +/- % +/- % Percentile +/- % $10,000 on $10,000 $10,000

Return* S&P 500 Obj. Rank Obj. Peer Investment Investment +$100/Mo.

3 MONTHS 4.0 3.4 -1.3 56 2.8 9,856 - 10,0496 MONTHS 15.3 6.3 -3.2 63 8.6 10,920 - 11,4121 YEAR 32.2 13.5 0.1 41 17.8 12,527 142 13,7243 YEAR 22.2 3.8 -2.0 54 8.0 17,280 406 21,8435 YEAR 12.1 4.7 0.8 38 6.9 16,736 541 25,69610 YEAR 13.3 6.2 4.1 11 8.1 32,965 1,506 55,38315 YEAR - - - - - - - -20 YEAR - - - - - - - -* Annualized for three years and beyond.

Fund Obj.Beta 0.82 0.90

Alpha 6.6 6.9

R2 73 77

Std. Dev. 12.43 14.62

1 (best) to 5 (worst) Fund Obj.Overall 1.5 1.8Risk 2.7 3.3Growth 10Yr. 1.3 2.5Persistence 5Yr. 3.1 2.8

1Yr. 2.2 2.4

LOAD-ADJ RET 8/13

10 YEAR 12.7%5 YEAR 10.9%1 YEAR 25.6%Since inception 15.9%

Management Fee 0.73%

12b-1 Fee 0.25%Red. Fee None

Front-End Load Pct.Maximum 5.25at $25K 4.75at $100K 3.00at $500K 2.00Minimum 0.00

Management Style: The fund seeks to achievethe objective of long-term capital appreciation byinvesting at least 80% of the fund’s assets in thecommon stocks of companies in the healthsciences and related industries. Health science andrelated industries include (but not limited to)businesses involved in the development, prod-uction, and distribution or delivery of medicaland pharmaceutical products and services, firmsengaged in biotechnology and medical researchdevelopment, firms that design, manufacture ordistribute medical, dental and optical equipment

and supplies, or provide related administrative,management, and financial support. Managementtends to invest in companies that are trading be-low its intrinic value, have the potential forabove-average returns, and expected to showabove-average growth over the long-term. Also, ittends to invest in firms that are of comparablesize to firms in the health sector of the Russell3000 Health Care Index. A security will be soldif an issue has reached its price target, a compa-ny’s fundamentals have deteriorated, or if thereare other attractive investment opportunities.

THE VALUE LINE MUTUAL FUND SURVEY OBJECTIVE PEER DIV YLD NAV TNA(Mil) VALUELINE

OVERALL RANK RISK RANK 5-YR RETURN

(Annualized)

PAST MARKET CYCLE PERFORMANCE

FUND INFORMATION

PORTFOLIO INFORMATION

PORT. MGR. %RATING

Style/Perf. QuintileLarge

Cap.

SmallCap.

Value Growth

QUARTERLY TOTAL RETURN (%)

ISSUE DATE

EXPENSE STRUCTURE

MPT vs. S&P 500 RANKINGS

SECTOR WEIGHTINGS

STATISTICS

PORTFOLIO HOLDINGS

FUND HIGHLIGHTS

© 2013 Value Line Publishing LLC All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOTRESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmittedin any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

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FRANKLIN RISING DIVIDENDS A FRDPX Growth/Inc LV 1.2% 44.01 8386.0 page

1(Highest)

2(Lower Risk)

8.4%

Fund Obj. S&P 500Bull 2/09 - 7/13 +147.2% +130.8% +151.9%Bear 10/07 - 2/09 -44.9% -49.3% -51.0%Bull 9/02 - 10/07 +78.7% +102.7% +108.3%

Address: One Franklin Pkwy, San Mateo, CA 94403Advisor: Franklin Advisory Services, LLCSub-Advisor: NoneWeb Site: www.franklintempleton.com

Fiscal Year-End: SeptemberMin. Initial Invest: $1,000Min. Subsequent Invest: $0Min. IRA Invest: $250Telephone Exchanges: YesTel. Redemption: YesInternet Investing: Yes


6/30/13 3/31/13Port. Rel. Port. Rel.

% S&P500 % S&P500Consumer Durables 2.2 0.98 2.2 1.01Energy ▼ 9.2 1.10 9.7 1.15Finance 3.4 0.22 3.3 0.22Industrial Cyclical ▼22.6 1.89 24.1 2.01Non-Durable ▲16.5 1.13 16.1 1.08Retail Trade ▼ 8.2 1.02 8.8 1.15Health ▼15.0 1.73 17.1 1.94Services 0.3 0.11 0.3 0.11Technology ▲12.8 0.53 11.7 0.47Utilities - - - -



Convts. -Bonds -Other -

%Foreign -%Hedged -# Stocks 60





JOHNSON & JOHNSON 3 5564800 477794 4.20

CHEVRON CORP 4 3864100 457278 4.02

PENTAIR INC - 7712000 444905 3.91

INTL BUSINESS MACHINES CORP 2 2247600 429539 3.78

DOVER CORP 3 4948800 384324 3.38

MEDTRONIC INC 3 7291000 375268 3.30

AIR PRODUCTS & CHEMICALS INC 3 4055458 371358 3.27

UNITED TECHNOLOGIES CORP 4 3832202 356165 3.13

WAL-MART STORES INC 3 4492864 334673 2.94

ROPER INDUSTRIES INC 3 2681809 333134 2.93

ALBEMARLE CORP 4 5283025 329080 2.89

PROCTER & GAMBLE CO 3 4184500 322165 2.83

BECTON DICKINSON & CO 3 3163516 312650 2.75

STRYKER CORP 3 4804727 310770 2.73

JOHNSON CONTROLS INC 2 8651111 309623 2.72

OCCIDENTAL PETROLEUM CORP 3 3457000 308468 2.71

PEPSICO INC 3 3641300 297822 2.62

MCDONALD’S CORP 3 2949654 292016 2.57

PRAXAIR INC 3 2535167 291950 2.57

ARCHER DANIELS MIDLAND CO 2 8503400 288350 2.54

EXXON MOBIL CORP 3 3090700 279245 2.46

FAMILY DOLLAR STORES INC 2 4425383 275746 2.43

WALGREEN CO 2 5439000 240404 2.11

QUALCOMM INC 2 2748800 167897 1.48

COLGATE PALMOLIVE CO 5 2865210 164148 1.44


Team Managed NR

■3

TAX STATUS 6/30/13



2009 -12.9 14.0 12.4 4.92010 6.9 -7.3 11.8 7.52011 4.0 3.2 -10.9 12.22012 7.3 -2.8 4.3 1.42013 11.2 2.0 -- --

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 8/13 HISTORICAL ARRAY19.30 22.74 24.78 24.14 29.66 32.16 32.38 35.87 33.70 23.95 27.91 32.85 34.80 37.82 44.01 Bid Price (NAV)0.17 0.19 0.17 0.12 0.16 0.30 0.35 0.91 0.45 0.51 0.12 0.37 0.41 0.55 0.00 Dividends ($)0.77 0.80 0.63 0.46 0.50 0.88 1.00 2.32 1.24 2.02 0.41 1.07 1.10 1.37 1.18 12-Mo. Div. Yield (%)1.66 0.00 0.73 0.09 0.04 0.24 0.18 1.19 0.67 0.00 0.00 0.00 0.00 0.00 0.00 Cap. Gains ($)1.43 1.58 1.45 1.36 1.37 1.25 1.09 1.00 1.00 1.01 1.13 1.05 .99 .96 .93 Expense Ratio (%)1.13 1.36 1.09 1.00 0.99 0.92 0.84 0.82 0.84 0.86 0.91 0.87 0.84 0.83 0.83 Exp.Ratio Rel. to Obj.

14 12 19 6 4 3 4 8 6 4 23 6 4 4 1 Turnover (%)328.4 291.3 349.9 572.3 973.4 1285.6 1480.7 1913.6 1815.1 1157.3 1366.4 2044.0 3386.9 5777.2 8386.0 Net Assets ($Mil.)-10.3 18.9 13.1 -1.8 23.7 10.3 2.3 17.3 -2.9 -27.2 17.0 19.1 7.2 10.3 16.4 Total Return (%)-31.3 28.1 25.2 20.3 -5.0 -0.6 -2.6 1.6 -8.4 9.8 -9.4 4.0 5.1 -5.7 0.2 +/- S&P 500 (%)-22.4 18.3 21.0 18.4 -3.4 -1.2 -4.1 2.4 -6.8 8.8 -8.9 5.0 7.8 -3.7 1.2 +/- to Obj. (%)-12.8 10.7 16.1 17.5 -4.7 -2.3 -3.6 0.1 -5.2 10.4 -7.8 6.9 10.9 -4.2 3.6 +/- to Peer (%)

■5 ■1 ■1 ■1 ■4 ■4 ■5 ■2 ■5 ■1 ■5 ■1 ■1 ■5 ■3 Quintile Perf. Rel. to Obj.




3 MONTHS 1.7 1.0 0.9 18 1.4 9,583 - 9,7726 MONTHS 8.4 -0.6 0.0 61 1.5 10,214 - 10,6941 YEAR 20.9 2.2 2.6 32 2.8 11,392 55 12,5243 YEAR 16.9 -1.5 0.9 46 3.3 15,064 174 19,1545 YEAR 8.4 1.1 2.2 7 4.0 14,118 238 22,26510 YEAR 7.0 -0.1 0.5 40 1.3 18,569 789 35,52215 YEAR 8.3 2.7 2.8 5 3.3 31,009 1,914 62,08320 YEAR 9.0 0.4 1.7 21 2.0 53,029 4,177 109,123* Annualized for three years and beyond.


Alpha 2.3 -2.0

R2 90 99

Std. Dev. 10.84 13.61


1Yr. 2.2 2.9

LOAD-ADJ RET 8/13



12b-1 Fee 0.25%Red. Fee None

Front-End Load Pct.Maximum 5.75at $25K 5.75at $100K 3.50at $500K 2.00Minimum 0.00

Management Style: The fund seeks to achievethe objective of long-term capital appreciation. Inpursuit of this goal, management invests at least80% of the fund’s net assets in the equity secur-ities of companies with long histories of con-sistently raising dividends. It uses a bottom-upapproach to invest in attractively valued secur-ities. Management performs a rigorous stock-selection process that tracks fundamentally soundcompanies with rising dividends and attractivevaluations. It tends to focus on firms that haveraised its dividend in at least eight of the last 10

years. Secondly, over that time, it looks for firmswhose dividend should have increased substantial-ly. Third, the dividend must represent less than65% of the firm’s current earnings, and, fourth,no more than 50% of the company’s total capi-talization can be tied up in long-term debt. Final-ly, the stock must sell at the lower half of itstrailing 10-year price-to-earnings range or lessthan price-to-earnings ratio of the S&P 500 Index(at the time of purchase). Management does notnecessarily invest in companies with securitiesthat pay a high dividend rate.



(Annualized)


FUND INFORMATION


PORT. MGR. %RATING


Cap.

SmallCap.

Value Growth


ISSUE DATE

EXPENSE STRUCTURE


SECTOR WEIGHTINGS

STATISTICS

PORTFOLIO HOLDINGS

FUND HIGHLIGHTS


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CLIPPER FUND CFIMX Growth LV 1.6% 81.10 1147.0 page

1(Highest)

2(Lower Risk)

7.3%

Fund Obj. S&P 500Bull 2/09 - 7/13 +180.1% +136.1% +151.9%Bear 10/07 - 2/09 -61.5% -50.7% -51.0%Bull 9/02 - 10/07 +63.4% +113.1% +108.3%

Address: 30 Dan Rd., Canton, MA 02021Advisor: Davis Selected Advisers, L.P.Sub-Advisor: Davis Selected Advisers--NY, Inc.Web Site: www.clipperfund.com

Fiscal Year-End: DecemberMin. Initial Invest: $2,500Min. Subsequent Invest: $25Min. IRA Invest: $2,500Telephone Exchanges: YesTel. Redemption: YesInternet Investing: Yes


6/30/13 3/31/13Port. Rel. Port. Rel.

% S&P500 % S&P500Consumer Durables - - - -Energy ▼ 6.0 0.71 6.9 0.82Finance ▼48.1 3.13 55.5 3.77Industrial Cyclical 1.2 0.10 1.2 0.10Non-Durable ▲ 5.4 0.37 1.2 0.08Retail Trade 19.0 2.38 18.6 2.43Health ▲ 1.1 0.13 0.7 0.08Services - - - -Technology ▼ 8.6 0.35 9.3 0.38Utilities - - - -



Convts. -Bonds -Other -

%Foreign 11%Hedged -# Stocks 25





AMERICAN EXPRESS CO 3 2069633 154726 13.48

BERKSHIRE HATHAWAY INC - 709 119537 10.42

COSTCO WHOLESALE CORP 3 916391 101325 8.83

CVS CAREMARK CORP 3 1715900 98115 8.55

BANK OF NEW YORK MELLON CORP 2 2585889 72534 6.32

CANADIAN NATURAL RESOURCES 3 2418674 68352 5.96

ALLEGHANY CORP 3 158303 60679 5.29

GOOGLE INC 4 60000 52778 4.60

LOEW’S CORP - 1122500 49839 4.34

WELLS FARGO & CO 3 811300 33482 2.92

OAKTREE CAP MANAGEMENT LLC - 618609 32508 2.83

AMERIPRISE FINANCIAL INC 3 255169 20638 1.80

BED BATH & BEYOND INC 3 262500 18611 1.62

TEXAS INSTRUMENTS INC 4 485300 16898 1.47

UNITED HEALTHCARE CORP - 236200 15466 1.35

RHJ INTERNATIONAL - 3131027 14753 1.29

EVEREST RE GROUP 2 113500 14558 1.27

JULIUS BAER GROUP - 349130 13635 1.19

LABORATORY CRP OF AMER HLDGS 3 128840 12897 1.12

HEWLETT PACKARD CO 1 514900 12770 1.11

DIAGEO PLC - 440742 12603 1.10

MARKEL CORP 5 22400 11804 1.03

MICROSOFT CORP 3 322729 11144 0.97

SKBHC HOLDINGS LLC - 2076 9213 0.80

CIELO SA - 287958 7227 0.63


Christopher Davis 1/06 -1.5Kenneth Feinberg 1/06 -1.5

■2

TAX STATUS 6/30/13



2009 -11.1 20.6 20.4 6.62010 6.5 -9.6 9.2 9.22011 6.6 1.4 -13.1 9.02012 9.0 -3.7 4.8 2.12013 12.6 3.6 -- --

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 8/13 HISTORICAL ARRAY65.28 79.25 83.53 75.73 87.97 89.68 88.15 91.98 81.00 39.98 54.56 61.96 62.50 68.86 81.10 Bid Price (NAV)2.25 1.87 1.08 1.08 0.73 0.57 1.29 1.10 0.87 0.84 0.46 0.63 0.87 1.34 0.00 Dividends ($)2.99 2.03 1.18 1.31 0.77 0.58 1.39 1.04 0.90 1.97 0.79 0.96 1.31 1.83 1.56 12-Mo. Div. Yield (%)6.16 8.38 2.75 2.11 1.62 2.81 0.00 8.01 10.15 0.02 0.00 0.00 0.00 0.00 0.00 Cap. Gains ($)1.11 1.11 1.12 1.07 1.13 1.12 1.12 .62 .69 .76 .80 .76 .75 .75 .74 Expense Ratio (%)0.79 0.82 0.73 0.68 0.74 0.72 0.73 0.43 0.49 0.56 0.58 0.56 0.57 0.58 0.55 Exp.Ratio Rel. to Obj.

63 46 23 48 25 16 13 63 25 7 15 3 15 6 6 Turnover (%)960.6 1366.3 2685.1 5100.0 6963.5 7208.0 6189.0 3428.0 2781.0 1084.0 1162.0 1153.0 1033.0 1015.0 1147.0 Net Assets ($Mil.)

-2.0 37.4 10.3 -5.5 19.3 5.9 -0.3 15.3 0.1 -49.6 37.6 14.8 2.3 12.3 17.8 Total Return (%)-23.1 46.6 22.4 16.6 -9.3 -5.0 -5.2 -0.5 -5.4 -12.6 11.2 -0.3 0.2 -3.7 1.6 +/- S&P 500 (%)-28.6 41.8 24.9 18.0 -10.6 -4.7 -11.0 4.6 -8.1 -10.4 5.8 -2.0 5.3 -2.0 2.2 +/- to Obj. (%)-4.6 29.1 13.2 13.8 -9.1 -6.7 -6.2 -1.9 -2.2 -11.9 12.7 2.6 6.0 -2.2 5.0 +/- to Peer (%)

■5 ■1 ■1 ■1 ■5 ■5 ■5 ■2 ■5 ■5 ■2 ■3 ■1 ■4 ■2 Quintile Perf. Rel. to Obj.




3 MONTHS -0.5 -1.1 -2.1 91 -0.8 9,953 - 10,1506 MONTHS 9.0 0.0 0.1 52 2.1 10,900 - 11,4051 YEAR 23.1 4.4 4.3 26 5.0 12,309 78 13,5143 YEAR 16.8 -1.6 0.7 54 3.1 15,925 212 20,2655 YEAR 7.3 0.0 1.1 34 2.9 14,238 273 22,91910 YEAR 3.6 -3.5 -3.1 95 -2.0 14,292 1,123 30,37615 YEAR 6.6 1.1 0.9 42 1.6 26,135 3,297 53,20820 YEAR 9.4 0.8 2.1 21 2.3 59,773 9,953 111,951* Annualized for three years and beyond.


Alpha 1.0 -3.2

R2 92 97

Std. Dev. 11.72 14.97


1Yr. 2.4 2.8

LOAD-ADJ RET 8/13



12b-1 Fee NoneRed. Fee None

Sales Load Pct.Maximum Noneat $25K Noneat $100K Noneat $500K NoneMinimum None

Management Style: The fund seeks to achievethe objective of long-term capital appreciation andcapital preservation. To realize this goal, the fundinvests primarily in the common stocks of com-panies that have a market capitalization of atleast $10 billion. It is considered a non-diversified fund since the fund’s portfolio normal-ly holds between 15 and 35 equity securities.Management uses a rigorous research approachknown as the Davis Investment Discipline in or-der to select companies for the portfolio. Part ofthe research process entails visits to a company’s

headquarters and conducting interviews with itsleaders, employees, and competitors. Managmentbelieves this will enable it to gain insight intothe value of a company’s business. Based on theresults of its fundamental analysis, management isable to to determine the intrinsic value of compa-ny. It tends to invest in companies that are trad-ing at a discount compared to the estimated valuegiven by management. Companies with such char-acteristics as a proven management, a durablefranchise and business model, as well assustainable competitive advantages, are favored.



(Annualized)


FUND INFORMATION


PORT. MGR. %RATING


Cap.

SmallCap.

Value Growth


ISSUE DATE

EXPENSE STRUCTURE


SECTOR WEIGHTINGS

STATISTICS

PORTFOLIO HOLDINGS


S E P T E M B E R 2 0 1 3 5


BlackRock Health Sciences Opportunities Fund

Investors interested in funds that offerdividend income may be want to con-sider Franklin Rising Dividends Fund.

Over the last few years, the fund’s divi-dend distribution has consistently in-creased, making it an enticing offering.

The fund is managed by veteran portfoliomanagers that include: Mr. Donald G.Taylor, CPA, who has been with the fundfor 17 years, and Mr. Bruce C. Baughman,CPA, Mr. William J. Lippman, and Ms.Margaret McGee, each with a tenure ex-ceeding 20 years.

The fund seeks to realize the objective oflong-term capital appreciation, while alsopreserving capital by investing in the eq-uity securities of domestic companies.Up to 25% of the fund’s assets may be in-vested in foreign securities. As part ofits investment strategy, management per-forms a rigorous stock-selection ap-proach to identify dividend-orientedcompanies. Management defines divi-

Investors who are looking to create amore diversified portfolio without tak-ing on too much risk may want to look

into BlackRock Health Sciences Opportu-nities Fund. It is a non-diversified offer-ing, which means more than 25% of itsassets may be concentrated in the healthsciences and related industries or compa-nies that are domiciled outside of theUnited States. The fund gives investors theoption to expose their portfolio to invest-ments in a couple of companies within theindustry rather than invest in only onecompany (from the same industry).

The fund is managed by two ManagingDirectors: Ms. Erin Xie, Phd., who hasbeen with the fund since 2003 and Mr.Thomas Callan, CFA, since 2005. Together,these portfolio managers attempt to achievethe objective of long-term capital apprecia-

dend-oriented companies as those thathave consistently distributed dividendsand increased its dividend payment dur-ing the last four years.

At least 65% of the fund’s net assets istypically comprised of companies thatmeet such criteria as: increasing its divi-dends in eight out of the past 10 years,have increased dividends by at least100% in the last 10 years, and have paidless than 65% of the company’s currentearnings because it has reinvested itsearnings. Moreover, it will also focus oncompanies whose long-term debt is nomore than 50% of the company’s marketcapitalization or who have received an in-vestment grade rating by at least one ma-jor ratings agency. Finally, it will con-sider firms that are trading at attractiveprices that are in the lower half of thestocks’ price/earnings ratio range (thepast 10 years), or less than the price/earn-ings ratio range of the S&P 500 StockIndex, at the time of purchase.

tion by investing at least 80% of the fund’sassets in the common stocks of companieswithin the health sciences and related in-dustries. Management deems a firm to bepart of the health sciences sector as compa-nies whose business is involved in the de-velopment, production, and distribution, ordelivery of medical and pharmaceuticalproducts and services. These types of com-panies may be included in such sectors asbiotechnology, pharmaceuticals, andhealthcare providers.

As part of the selection process, manage-ment typically shows preference to com-panies that are trading below its intrinsicvalue. Within that universe, managementwill identify the companies that show po-tential for above average returns. Also, itwill invest in companies with above-aver-age growth over the long term. Manage-

ment may decide to sell an offering if acompany’s fundamentals have deterio-rated, it has realized the price target set bymanagement, or to invest in other more at-tractive opportunities.

The fund posted a total return of 26.5%for the year-to-date period through August2013, slightly underperforming the Healthobjective group by two percentage points.Furthermore, its annualized total returnshave outperformed the objective group bynearly a percentage point and four per-centage points over the trailing five- and10-year periods. The fund also receivedValue Line’s Highest Overall rank of 1.Further, its level of volatility is below theobjective group’s average.

Once management has identified the can-didates it would like to invest in, it pur-chases the shares of companies with soundfundamentals and trading at attractivelyvalued prices. Management does not nec-essarily have to invest in a company thatpays a high dividend rate.

For the year-to-date period ended inAugust 2013, the fund posted a total re-turn of 16.4%, outperforming the Growth/Income objective group by a percentagepoint. It has performed fairly well over theyears, as reflected when its annualized to-tal returns have outpaced the objectivegroup over the trailing three-, five-, 10-,and 20-year periods. Moreover, the fundearns Value Line’s Highest Overall rank of1. Also, its standard deviation, a measureof volatility, is well below the objectivegroup’s average, which is why it receivesthe second highest Risk rank.

At the time of this article’s writing, the authordid not have a position in the fund mentioned.


Franklin Rising Dividends Fund


6 S E P T E M B E R 2 0 1 3


For the second quarter, the U.S.economy expanded at an annualizedpace of 2.5%, up from 1.1% posted

in the first quarter. Strong earningsgrowth and a decrease in the unemploy-ment rate were just some of the factorsthat drove the stock market. However,the success at the start of the secondquarter was pushed back towards the endof June, due to a sell-off that was sparkedby the announcement of the FederalReserve’s consideration to scale back onits quantitative easing program.

Fortunately, the stock market bouncedback, as the Federal Reserve stated that itwill begin staving off buying bonds, aslong as the economy continues to grow.Despite this message, the investors andconsumers remain wary as to when theFed would begin easing off its bond buy-ing campaign. This is noticeable whenconsumer spending fell below forecastedexpectations in July. Furthermore, an

Clipper Fund

Clipper Fund is a good option forconservative investors. Since 2006,Clipper Fund has been managed by

Davis Selected Advisers, L.P., an indepen-dent investment firm that is employee-owned. The fund is team managed by Mr.Christopher C. Davis, Chairman of DavisSelected Advisers, and Mr. KennethFeinberg, Vice President of the subsidiaryDavis Selected Advisers-NY, Inc. Bothmanagers have 19+ years of investment ex-perience and have been responsible for thefund for seven years.

Under the care of these portfolio manag-ers, the Davis Investment Discipline isapplied to achieve the objective of long-term capital appreciation and capitalpreservation. Its investment strategy in-volves thorough research of its potentialcandidates. The selection process first be-gins with management identifying whichcompanies possess the qualities that it be-

lieves will enable the company itself tosustain its value. Management tends tofocus on a company led by proven man-agement that will make careful decisionsand efficiently allocate the company’scapital, have durable franchise and busi-ness models, which will enable the com-pany to withstand a turbulent market, aswell as have competitive advantages. Itmay also visit a company and interview acompany’s management team, customers,and competitors in order to learn moreabout a company’s business. Once it haschosen potential candidates for the port-folio, it will narrow down their list ofcandidates further by conducting funda-mental analysis to determine whichcompanies are trading below what man-agement believes is its intrinsic value. Indetermining a company’s worth, manage-ment will examine a company’s f inancialreports and regulatory documents. Man-agement also applies its own in-house

method in calculating the value of a busi-ness.

Investors should note that the fund is con-sidered non-diversified since the fund’sportfolio is usually comprised of 15 to 35issues of companies that have market capi-talizations of at least $10 billion.

For the eight-month period ended inAugust 31, 2013, the fund posted a gain of17.8%, besting the Growth objectivegroup by two percentage points. Further-more, the fund’s annualized total returnshave outperformed the objective groupover the trailing three-, five-, and 20-yearperiods. Also, the fund earns Value Line’shighest Overall rank of 1. Its level of vola-tility is well below the objective’s average,adding to its appeal.


companies represented on the RussellMicrocap Index. As of May 31, 2012, themarket cap range of the companies of theRussell Microcap Index was between $30million to $585 million. The fund is man-aged by portfolio managers of four differ-ent subadvisers, each with their owninvestment style. Portfolio managers ofLord, Abbett & Co. LLC use a growth-ori-ented approach, in which much of its focusis on companies whose revenue growth is atleast 15%. Management tends to look forcompanies whose growth is not driven by aspecial event or cost-cutting measuresimplemented by a company. Furthermore,management will look at other factors, suchas a company’s competitive advantage andleadership quality, as part of its investmentdecision. Like Lord, Abbett & Co., NextCentury Growth Investors portfolio teamlooks for micro-cap companies with the po-tential for growth. It looks at companieswith low debt and high ROE, among otherfactors. Wedge Capital Management and

Short-List Picks: Small-Cap Growthuptick in long-term interest rates by 1%,which in turn led to an increase in mort-gage rates, has added more worries thatthe U.S. economic growth will stall, as ris-ing rates may affect the positive momen-tum of the housing market. For theyear-to-date period through August 31,2013, the Small-Cap Growth objectivegroup posted a total return of 21.6%, out-pacing the Large-Cap Growth objectivegroup by 10 percentage points. Thismonth, we will be looking at a few mutualfunds from the Small-Cap Growth assetclass that may interest you.

Managers Micro-Cap Fund (MMCFX) is inthe high-risk section of our highlightedfunds. The fund seeks to achieve the objec-tive of long-term capital appreciation. Atleast 80% of the fund’s portfolio is com-prised of the equity securities of micro-capcompanies. Typically, these micro-capcompanies have market capitalization thatis within the range of the market caps of the


S E P T E M B E R 2 0 1 3 7


RBC Global Asset management both con-duct quantitative analysis as part of the se-lection process to identify candidates withsolid fundamentals and growth potential.

For the eight-month period through Au-gust 2013, the fund posted a total return of32.1%, besting the Small-Cap Growth ob-jective group just over 10 percentagepoints. Moreover, the fund’s annualizedtotal returns have outperformed the objec-tive group by five and two percentagepoints over the trailing three- and five-year periods, respectively, and performedroughly in line with the objective groupover the trailing 10-year periods. It also re-ceived an Overall rank of 2, Value Line’ssecond highest rank. However, it receivesValue Line’s Risk rank of 5 since its levelof volatility is well above the objectivegroup’s average. Investors who do notmind the risks can learn more about thisfund by calling (800) 835-3879 or visitingwww.managersinvest.com.

In the moderate-risk section of our high-lighted funds is Brown Capital Manage-ment Small Company Fund (BCSIX). Thefund primarily seeks to achieve long-termcapital appreciation. Income is its second-ary goal. In pursuit of its goal, manage-ment invests at least 80% of the fund’sassets in equity securities, including com-mon stocks, preferred stocks, and convert-ible securities of small-cap companies thathave total operating revenues of $250 mil-lion or less (at the time of purchase). Aspart of its selection process, managementuses traditional dividend discount andearning yield models, along with funda-mental analysis that will enable it to evalu-ate factors pertaining to a potentialcandidate’s growth and risk characteristics.It tends to look for companies with sus-tainable revenue growth, quality manage-ment, and resources that will enable thecompany to develop and/or defend itsproducts or service. Management may sella security from its portfolio if it believes afirm’s growth potential has diminished.

The fund posted a total return of 26.5%for the year-to-date period through August2013, outperforming the Small-Cap

Growth objective group by nearly five per-centage points. The fund has a good his-torical performance history. In fact, itsannualized total returns have bested theobjective group by more than four per-centage points over the trailing three- andfive-year periods, and just over three per-centage points over the trailing 10-year pe-riods. Furthermore, it has earned ValueLine’s Overall rank of 2. Its level of vola-tility is roughly in line with the objectivegroup’s average. For more informationabout this fund, interested investors shouldcall (877) 892-4226, or visitwww.browncapital.com.

T. Rowe Price New Horizons Fund(PRNHX) is in the low-risk section of ourhighlighted funds. The fund seeks toachieve the objective of long-term capitalappreciation by primarily investing in thecommon stocks of small-cap companiesacross a broad array of industries. Its port-folio is generally comprised of companiesthat are in the early corporate life cycleand experiencing accelerating earningsgrowth. Management conducts fundamen-tal analysis to identify companies thathave solid financial and accounting poli-cies, pricing flexibility, quality manage-ment, as well as demonstrate innovativeresearch and product development. Aslong as a company continues to meet thefund’s criteria, it may not sell the offering,even if the company has become well-es-tablished in the market. Management maydecide to sell a security, in order to securegains, limit losses, or invest in other moreattractive securities.

For the January to August period, the fundposted a total return of 28.9%, outdistanc-ing the Small-Cap Growth objective groupby seven percentage points. The fund has astellar historical performance record,which is why it received Value Line’sHighest Overall rank of 1. The fund’s an-nualized total returns have outperformedthe objective group by more than six per-centage points over the trailing three- andfive-year periods, and four percentagepoints over the trailing 10-year periods.The fund’s level of volatility is roughly inline with the objective group’s average.

At the time of this article’s writing, theauthor did not have a position in the fundsmentioned.

Investors can learn more about this fundby calling (800) 225-5132, or visitingwww.troweprice.com.

Vanguard Small Cap Growth Index(VISGX) is another good option for inves-tors to consider. The fund, which resides inthe high-risk section of our highlightedfunds, seeks to track the performance ofthe benchmark index, CRSP US SmallCap Growth Index. The CRSP US SmallCap Growth Index measures the return ofvarious small-cap growth companies. Inorder to achieve the objective, manage-ment takes on a passive investment ap-proach known as indexing. This involves,management investing all or a substantialamount of the fund’s assets in all the com-panies listed on its benchmark index. Eachstock will have approximately the sameweight proportion as it does on the index.

For the year-to-date period through August2013, the fund posted a total return of20.9%, performing roughly in line withthe Small-Cap Growth objective group.Additionally, its annualized total returnshave outperformed the objective groupover the trailing three-, five-, and 10-yearperiods by more than two percentagepoints for each period. Recently, thefund’s received a boost in its ratings, earn-ing Value Line’s Highest Overall rank of 1.However, investors should note that itslevel of volatility is above the objective av-erage, which is normal since investmentsin small-cap companies tend to be morevolatile than its larger counterparts. Inves-tors who do not mind the risks can learnmore information about this fund bycalling (800) 662-2739, or visitingwww.vanguard.com.

Investors who would like to invest in an ex-change-traded fund (ETF) may want toconsider iShares Russell 2000 GrowthIndex Fund (IWO). It is appropriate for thisasset class and offers broad exposure tosmall-cap value stocks. To learn more aboutthis offering, visit www.ishares.com.


8 S E P T E M B E R 2 0 1 3


Mutual FundShort List

Risk RiskJanus Twenty Fund* Legg Mason Value Trust Fidelity Growth Company* High Vanguard Windsor - I HighFidelity Dividend Growth Fund Dodge & Cox Stock FundJanus Growth & Income Tocqueville FundMarsico Growth Fund Moderate Vanguard Value Index ModerateGAMCO Growth Fund Gabelli Asset FundAlger Large Cap Growth Fund T. Rowe Price Equity IncomeVanguard Growth Index Low Muhlenkamp Fund LowMadison Investors Fund Clipper FundETF: streetTRACKS DJ Wil. Lg Cap Gr (ELG) ETF: streetTRACKS DJ Wil. Lg Cap Val (ELV)

Risk RiskManagers Micro-Cap Fund Bridgeway Ultra-Small Co.*Vanguard Small Cap Growth Idx High Third Ave Value Fund HighDWS Small Cap Growth Vanguard Small-Cap Value IdxVanguard Explorer Fund Royce PA Mutual Fund InvBrown Capital Mgmt Small Company Moderate T. Rowe Price Small Cap Stock ModerateCalamos Growth Fund Royce Micro-Cap FundT Rowe Price New Horizons Royce Total Return FundWasatch Ultra Growth Fund Low Columbia Acorn Fund Z LowBaron Growth Fund Fidelity Low-Priced StockETF: iShares Russell 2000 Growth Index (IWO) ETF: Vanguard Small-Cap Value VIPERs (VBR)

Risk RiskOakmark Intl Small Cap Fund T. Rowe Price Emerging Markets StockDodge & Cox Intl Stock Fund High Matthews Korea Fund HighOakmark Intl I Fund T. Rowe Price Latin AmericaVanguard Global Equity Fund LeggMason Emerg Mkts PrimT Rowe Price Intl Discovery Fund Moderate SSgA Emerging Markets ModerateVanguard Developed Mkts Index Fund Fidelity Latin America FundFidelity Diversified Intl Fund Vanguard Emerging Mkts Stk IndexWilliam Blair Growth N Fund Low Fidelity China Region Fund LowMutual Global Discovery Fund Z* Matthews Asian Growth&IncETF: iShares MSCI-EAFE (EFA) ETF: iShares MSCI Emerging Markets (EEM)

Risk RiskVanguard Long-Term Bond Index Neuberger Berman High Inc Bd*Managers Fremont Bond Fund High Oppenheimer Champ. Inc. Fd A HighFrontegra Columbus Core Bond Managers High Yield FundDodge & Cox Income Fund Fidelity Capital & IncomeBlackRock Managed Income Svc Moderate Vanguard High Yield Corp. ModerateVirtus Bond C PIMCO High Yield AColumbia Core Bond Fund Z T. Rowe Price High YieldVanguard Short-Term Bond Idx Low Columbia Conservative H/Y Z LowFidelity Short-Term Bond Wells Fargo Adv Shr-Term High YldETF: iShares Barclays 1-3 Year Treas Bond (SHY) ETF: iShares iBoxx $High Yield Corp. Bond (HYG)

Risk RiskAmerican Century Intl Bond Fund Gabelli Gold Fund AAAT.Rowe Price Emerging Markets Fd High Vanguard Precious Metals & Mng HighT. Rowe Price Intl. Bond Fund Fidelity Select Natural ResourcesMFS Emerging Mkts Debt Fund ICON EnergyFidelity New Markets Income Fund Moderate JP Morgan Realty Inc. Fd A ModerateBlackRock Intl. Bond Svc. T. Rowe Price New Era FdPayden Global Fixed Inc - R Vanguard REIT IndexDFA Two-Yr Global Fixed Inc. Low Meeder Utilities and Infrastructure LowPayden Global Short Bond R MFS Utilities Fund CETF: None appropriate ETF: iShares COMEX Gold Trust (IAU)

Foreign Stock Emerging Market Stock

Large-Cap Growth Large-Cap Value

Small-Cap Growth Small-Cap Value

Domestic Bond High-Yield Bond

*denotes funds that are currently closed to new and/or all investors.

Foreign Bond Gold/Natural Resources

© 2013, Value Line Publishing LLC All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOTRESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmittedin any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

S E P T E M B E R 2 0 1 3 9

T H E V A L U E L I N E N O - L O A D F U N D A D V I S O R

Mutual Fund Directory

Explanation of Symbols and Terms

AA Asset Allocation May 31, 1987AG Aggressive Growth Dec. 31, 1973BA Balanced Dec. 31, 1980CG Corp-High Quality N/A

IT Intermed. Maturity N/AST Short Term N/A

CH Corp-High Yield Dec. 31, 1973CV Convertible Feb. 28, 1987DB Diversified Bond Sept. 30, 1986EN Energy/Nat. Res. Jan. 31, 1986EU Europe Equity Mar. 31, 1990FL Flexible Sept. 30, 1982FO Foreign Equity Dec. 31, 1984

EM Emerging Markets July 31, 1993LA Latin America Dec. 31, 1992

FS Financial Services Jan. 31, 1986GI Growth/Income Dec. 31, 1973GL Global Equity Jan. 31, 1984GM Gov’t Mortgage N/A

AJ Adjustable Rate N/AGR Growth Dec. 31, 1973GS Government Sec’s N/A

IT Intermed. Maturity N/AST Short Maturity N/A

INVESTMENT OBJECTIVES/PEER GROUPS

ing daily returns, rather than monthly,provides a far more current picture of afund’s allocation and is more useful inalerting investors to style drift that may re-quire them to rebalance their portfolio.Because the period is shorter, however, thenumbers are less stable and can be subjectto anomalous results from time to time. In-vestors need to recognize the inherent use-fulness, and likewise the limitations, ofthese figures.

Manager Ratings and Peer GroupsSimilar to alpha, Value Line’s ManagerRating seeks to measure the “value added”(or detracted) by a manager during his orher tenure at the fund. The Rating repre-sents the annualized percentage by whichthe actual return was above or below the“expected” return, with the expected re-turn determined by the risk and perfor-mance of a set of similarly managedfunds, or Peers. Managers must have atleast 24 months tenure in order to receivea rating. And, in order to make meaningfulcomparisons, Peers may be defined morenarrowly, than the broader Investment Ob-jectives. Because these Peer groups mustinclude enough funds to be statistically

meaningful, Manager Rating calculationsbegin at the more recent of the first pointat which there are five funds in a Peergroup, or the start date of the manager.Thus, in some cases the Manager Ratingsare calculated for a period that begins afterthe manager began at the fund.

Value Line RankingsOverall ranks are a measure of risk-ad-justed performance and are calculatedseparately for each of three broad catego-ries: equity and partial-equity, taxablefixed-income, and municipal bond. Rank1 is best, 5 is worst.

Risk ranks are calculated for two broadcategories: equity and partial equity, andfixed-income.

Symbols

▲ Up from previous month

▼ Down from previous month

N/A Not Available

R Redemption or deferred load

<BBBLess than BBB

Style Attribution AnalysisThe Style Attributions shown in the fundlistings that follow are not based on theactual reported holdings, but rather arecalculated based on a comparison of thefunds returns to those of 10 style indexes.It represents, in effect, the percentage towhich a fund’s behavior can be explainedby each index. Style Attribution is a toolto help investors track how their funds arebeing managed from a style perspective,and to identify style shifts. These figurescan help maintain a desired diversificationacross styles, and are useful in aligning aportfolio with the quarterly asset alloca-tion models presented in this newsletter.For that reason, changes in style of greaterthan 10 percentage points are flagged withan up or down arrow. The numbers shownare derived from a multiple regression thatcompares fund returns to those of the 10asset class indexes. These numbers rarelysum to 100%, because generally someportion of a fund’s return cannot be satis-factorily explained by just the 10 assetclasses. In addition, where there is a lackof available information, these correla-tions will not be calculated. The formulauses the most recent 100 daily returns. Us-

Start Datefor Manager

Code Name Ratings

HL Health Care Jan. 31, 1986IB International Bond N/A

FO Foreign Feb. 28, 1992GL Global May 31, 1988ST Short Maturity Oct. 31, 1990

IN Income (Equity) Dec. 31, 1978MB Municipal National N/A

HY High Yield N/AIS Insured N/AIT Intermed. Maturity N/AST Short Maturity N/A

MC Municipal California N/AHY High Yield N/AIS Insured N/AST Short Maturity N/A

MS Municipal Single State N/AMY Municipal New York N/A

HY High Yield N/AIS Insured N/AST Short Maturity N/A

OT Other Specialized N/APB Pacific Equity Nov. 30, 1988

JP Japan N/ANJ Non-Japan N/A

PM Precious Metals Aug. 31, 1981RE Real Estate Oct. 31, 1989SC Small Company Dec. 31, 1973TC Technology Jan. 31, 1984UT Utilities Jan. 31, 1982

GL Global N/A

Note: Manager Ratings for funds in the followingPeer Groups are calculated without regard tothe funds’ Investment Objective:

GW Growth oriented Nov. 30, 1981LB Large-cap Blend Dec. 31, 1977LG Large-cap Growth Dec. 31, 1973LV Large-cap Value Aug. 31, 1977MB Mid-cap Blend Dec. 31, 1997MG Mid-cap Growth Nov. 30, 1992MV Mid-cap Value Mar. 31, 1996SB Small-cap Blend Dec. 31, 1973SG Small-cap Growth June 30, 1984SV Small-cap Value Oct. 31, 1981VL Value oriented Dec. 31, 1973


Code Name Ratings


Code Name Ratings


Value Line Rankings Total Return 8/30/13

5 Yr. Annualized Market CyclesInv. NAV Growth 2/09-7/13 10/07-2/09 Pct.

Fund Name Load Obj./Peer 8/30/13 Overall Risk Persistence YTD 3 Mos 6 Mos 12 Mos 3 Yrs 5 Yrs 10 Yrs Bull Bear Yield


1 0 S E P T E M B E R 2 0 1 3

LG - Large Growth; LV - Large Value; SG - Small Growth; SV - Small Value; FO - Foreign Equity; EM - Emerging Market Equity; PM - Precious Metals; BD -Intermediate Bond; HY - High Yield Bond; IB - International Bond. The style attribution numbers shown are the percentage weightings across the ten styles that bestexplains the fund’s actual returns. See page 12. Changes greater than 10 points are flagged with [up] and [down] arrows.

Aberdeen Equity Long-Short A (MLSAX) Y GR/LS 11.80 4 1 5 4.7 -0.2 2.0 6.9 3.7 1.2 4.3 21.2 -14.5 0.0AdvisorOne Clermont N (CLERX) GR/LB 10.81 3 1 4 4.6 -1.0 1.8 7.2 8.4 4.7 4.7 80.3 -38.8 1.6Alger Capital App Fund A (ACAAX) Y GR/LG 19.33 2 3 1 15.6 2.3 9.4 17.3 18.8 8.3 10.2 155.8 -50.7 0.6Alger Capital Appreciation I-2 (ALVOX) GR/LG 70.38 2 3 1 15.7 2.3 9.4 17.7 19.3 8.9 10.5 163.0 -51.4 0.7Alger International Growth B (AFGPX) Y GR/LG 12.41 4 3 3 9.3 0.3 5.0 9.7 12.2 3.0 4.5 106.8 -52.8 0.2Alger Spectra Fund A (SPECX) Y AG/LG 15.86 2 3 1 15.6 2.4 9.8 17.5 19.5 10.8 11.4 177.7 -49.7 0.5AllianceBernstein Equity Income A (AUIAX) Y GI/LV 26.56 2 2 3 15.2 0.9 9.7 17.3 16.3 6.8 11.7 113.3 -41.2 2.3AllianceBernstein Lg Cap Growth A (APGAX) Y GR/LB 33.66 3 3 2 16.1 4.0 9.4 17.3 19.4 10.9 7.8 139.1 -41.2 0.0AllianzGI Focused Growth C (PGWCX) GR/LG 28.48 3 3 3 15.4 2.7 9.4 15.5 17.3 6.3 7.4 123.6 -46.9 0.0AllianzGI Large-Cap Growth A (RALGX) Y GR/LG 14.71 ▲ 3 3 3 15.6 2.8 9.1 15.4 14.5 5.5 5.8 109.5 -47.0 0.8AllianzGI NFJ Dividend Value A (PNEAX) Y IN/LV 14.42 2 3 3 15.4 0.3 9.2 17.7 17.0 4.2 7.2 135.6 -53.8 2.0AllianzGI NFJ Small Cap Value A (PCVAX) Y SC/SV 33.15 1 3 2 16.6 1.7 7.9 23.1 16.9 8.3 10.3 156.0 -44.1 1.0Alpine Dynamic Dividend Inst (ADVDX) IN/LB 3.48 5 4 5 7.4 -1.4 2.3 9.4 7.6 -2.3 — 63.3 -58.9 9.5Amana Growth Fund (AMAGX) GR/LG 29.02 3 2 3 7.9 0.0 3.5 9.0 12.2 6.1 10.6 100.4 -38.8 0.2American Beacon Holland LgCp Gr Inv (LHGFX) GI/LG 24.87 3 3 2 15.6 1.5 8.4 10.1 15.2 7.1 6.2 132.4 -44.1 0.1American Beacon Lg Cap Val AMR (AAGAX) GI/LV 25.63 ▲ 1 3 3 19.9 1.3 12.7 25.7 18.9 7.8 8.9 169.4 -54.8 2.0American Century All Cap Grth Inv (TWGTX) SC/SG 32.60 3 3 2 14.1 4.0 9.7 13.4 18.0 5.0 10.3 140.4 -52.0 0.3American Century Equity Growth Inv (BEQGX) GR/LB 28.35 2 3 3 16.5 0.9 9.3 19.3 19.6 6.9 7.4 147.7 -49.3 1.5American Century Equity Income Inv (TWEIX) IN/LV 8.58 3 2 3 10.9 -1.0 5.0 12.9 13.3 6.8 7.3 95.5 -34.4 2.3American Century Growth Inv (TWCGX) GR/LG 30.30 3 3 2 12.7 1.0 7.2 12.7 16.6 6.9 7.3 132.1 -45.5 0.8American Century Heritage A (ATHAX) Y GR/MG 25.39 3 4 2 17.7 4.8 10.7 18.8 18.1 6.6 11.2 158.9 -52.0 0.0American Century Mid Cap Value Inv (ACMVX) GR/MV 15.08 1 2 2 16.4 0.7 8.9 23.1 15.1 9.0 — 151.0 -41.6 1.4American Century Select Inv (TWCIX) GR/LB 48.56 3 3 2 11.5 0.6 7.2 10.5 17.6 6.6 5.3 130.2 -47.7 0.6American Century Ultra Inv (TWCUX) AG/LG 30.58 3 3 2 17.4 4.8 12.3 17.9 19.4 8.1 5.9 146.0 -49.6 0.4American Century Value Inv (TWVLX) GI/VL 7.46 2 2 3 17.9 0.8 9.5 22.5 16.9 8.1 7.4 138.1 -45.0 1.4American Century Veedot Inv (AMVIX) AG/MG 8.29 ▼ 2 ▲ 2 3 20.7 1.5 12.8 25.0 21.3 3.4 6.2 129.1 -58.2 1.5American Century Vista Inv (TWCVX) AG/MG 20.81 3 3 3 17.2 3.8 10.0 19.2 16.8 2.8 7.4 112.1 -54.8 0.0American Funds AMCAP A (AMCPX) Y GR/LG 25.38 1 3 ▼ 2 19.5 3.5 12.4 24.2 19.3 9.4 7.3 157.4 -48.6 0.2American Funds Cap Inc Builder A (CAIBX) Y IN/LB 54.87 3 2 3 5.8 -0.9 2.9 8.6 10.1 4.8 7.6 85.6 -40.7 3.8American Funds Fundamentl Invs A (ANCFX) Y GI/LB 46.28 ▼ 2 3 ▲ 2 14.1 -0.3 8.2 19.6 16.3 6.2 9.1 137.4 -50.1 1.3American Funds Gr Fnd of Amer A (AGTHX) Y GR/LB 39.93 2 3 3 16.2 2.4 10.6 22.7 17.0 6.4 7.7 131.4 -48.8 0.7American Funds Inv Co of Amer A (AIVSX) Y GI/LB 34.73 3 2 3 16.1 1.7 10.2 19.1 16.1 6.5 6.9 123.4 -47.2 2.0American Funds Mutual Fund A (AMRMX) Y GI/LV 32.14 2 2 3 14.5 0.9 7.8 17.0 15.9 7.7 7.4 127.9 -43.3 2.0American Funds Wash Mutl Invs A (AWSHX) Y GI/LV 35.95 2 2 3 16.4 0.8 9.9 18.8 17.9 7.2 7.0 141.0 -48.9 1.9American Ind Stock A (IFCSX) Y GR/LV 15.02 3 3 3 16.2 1.6 11.8 22.5 15.7 7.4 — 138.4 -41.1 0.4Ariel Appreciation Fund Inv (CAAPX) GR/VL 50.83 2 5 2 23.9 2.4 11.2 33.3 20.3 11.7 8.3 240.0 -55.1 0.6Ariel Fund Inv (ARGFX) SC/SV 62.13 2 5 2 21.3 3.0 9.5 33.3 18.8 10.3 7.2 273.3 -64.4 0.8Artisan Mid Cap Fund Inv (ARTMX) GR/MG 44.94 ▲ 1 3 1 19.7 5.2 13.0 22.7 21.7 11.6 10.8 210.5 -52.1 0.0Artisan Mid Cap Value Fund Inv (ARTQX) GR/MV 25.23 1 3 1 21.4 2.6 9.9 27.7 19.6 10.2 12.3 178.0 -41.5 0.4Artisan Small Cap Value Inv (ARTVX) SC/SV 17.16 3 ▲ 3 3 11.8 -0.3 6.0 17.3 12.8 6.3 9.7 144.3 -42.5 0.7Aston/Montag & Caldwell Growth N (MCGFX) GR/LG 26.33 3 2 3 10.4 -2.1 3.6 10.9 14.9 5.4 6.5 113.1 -42.4 0.7Auxier Focus Fund Inv (AUXFX) GR/LV 18.67 ▼ 3 2 3 12.3 -1.0 7.1 15.0 13.3 7.4 7.1 108.0 -35.7 1.1Ave Maria Growth Fund (AVEGX) GR/MG 27.01 2 3 2 13.9 1.7 7.7 17.5 19.2 8.7 9.3 150.2 -43.2 0.0Ave Maria Rising Dividend Fund (AVEDX) GR/LB 15.72 1 2 2 17.0 1.6 8.5 21.9 18.4 9.6 — 155.7 -40.2 1.2BBH Core Select Fund N (BBTEX) GR/LB 19.89 1 2 2 14.6 0.9 7.1 18.4 18.6 9.8 9.4 150.9 -37.1 0.4BMO Large-Cap Growth Fund Y (MASTX) GR/LB 15.09 3 3 2 13.1 1.1 7.8 15.1 18.1 6.7 6.6 133.0 -47.8 0.1BMO Large-Cap Value Fund Y (MREIX) GI/LV 14.54 3 3 3 16.7 0.0 8.4 20.7 17.3 5.0 6.2 109.8 -46.2 1.1BMO Mid-Cap Growth Fund Y (MRMSX) GR/MG 22.94 ▼ 3 4 2 14.1 -0.2 5.5 21.4 19.2 8.6 8.4 154.7 -47.4 0.0BNY Mellon Mid Cap Stock Fund M (MPMCX) GR/MG 13.33 3 4 ▲ 2 19.0 2.6 10.1 24.7 17.3 6.6 9.0 149.8 -51.4 0.2Baron Asset Fund Retail (BARAX) SC/SG 58.27 2 3 2 19.2 2.9 8.5 24.2 18.8 7.1 9.5 161.4 -53.5 0.0Baron Growth Fund Retail (BGRFX) SC/MG 64.41 1 3 1 20.2 3.6 10.0 25.8 21.7 9.6 9.6 181.2 -51.4 0.2Baron Partners Fund Retail (BPTRX) AG/MG 28.19 2 4 2 24.9 3.4 10.3 33.3 22.1 7.8 12.3 199.2 -59.4 0.0Baron Small Cap Fund Retail (BSCFX) SC/SG 31.20 1 3 1 19.0 3.3 10.7 25.8 20.3 9.5 9.1 172.7 -51.5 0.0BlackRock Basic Value A (MDBAX) Y GI/LV 30.66 ▼ 3 3 3 21.3 2.1 13.0 26.6 17.4 7.1 7.1 146.7 -50.5 1.4BlackRock Capital Appreciation A (MDFGX) Y GR/LG 26.50 ▲ 3 3 3 11.6 1.6 7.5 13.2 14.0 5.2 6.1 113.4 -46.5 0.2BlackRock Flexible Equity A (BMCAX) Y GR/MG 13.10 ▲ 3 3 3 10.9 0.3 5.0 12.7 12.8 4.4 8.3 127.0 -51.2 0.7BlackRock Large Cap Core A (MDLRX) Y GR/LB 14.01 3 3 3 15.2 0.1 8.4 19.4 17.1 5.5 6.7 117.8 -50.4 1.4BlackRock Large Cap Growth A (MDLHX) Y GR/LG 12.28 3 3 3 13.0 0.9 8.9 13.2 17.0 6.6 6.6 121.9 -48.1 1.6BlackRock U.S. Opportunities A (BMEAX) Y SC/MB 40.91 3 3 3 20.0 2.7 10.8 23.7 14.8 7.1 11.3 139.4 -45.7 0.1Brandywine Blue Fund (BLUEX) GR/LG 28.18 4 3 4 14.8 0.2 8.1 14.3 12.8 -1.1 4.3 67.1 -51.5 0.0

GENERAL EQUITY


Max.Style Attribution Analysis

% invested inSales Expense Min Fund Mgr

LG LV SG SV FO EM PM IB HY BD Cash Bds Cvts Stks Charge Ratio Init. Inv. Manager Since Rating 2 Telephone

2) Manager Rating seeks to measure the “value added” (or detracted) by a manager during his or her tenure at the fund, adjusted for risk, as compared with the fund’speers. The number expressed represents the annualized percentage by which the actual return was above or below the “expected” return, with the expected returndetermined by the risk and performance of the peer group. See the beginning of this fund listing section or the Subscriber’s Guide for more detail.


S E P T E M B E R 2 0 1 3 1 1

▼ 27 ▲ 21 0 0 ▼ 0 0 0 0 ▲ 23 0 - - - 81 5.75 2.87 1000 Team Managed - - 866 667-9231 12 25 0 0 14 0 0 0 24 22 2 - 1 5 None 1.15 2500 Dennis Guenther 12/04 -1.1 866 811-0225 75 0 9 0 0 0 0 14 0 0 - - 1 98 5.25 1.26 1000 Patrick Kelly 10/05 3.9 800 992-3863 73 6 7 0 0 0 0 12 0 0 - - - 96 None 0.97 500000 Patrick Kelly 10/05 4.3 800 992-3863 40 0 0 0 ▲ 44 0 0 0 0 0 - - - 93 5.00R 1.98 1000 Dan C. Chung 9/01 -3.6 800 992-3863 72 6 7 0 0 0 0 12 0 0 - - 1 104 5.25 1.48 1000 Patrick Kelly 9/04 5.6 800 992-3863 27 ▲ 46 0 0 6 0 0 ▼ 0 0 ▲ 15 3 - 1 97 4.25 1.07 2500 Team Managed - - 800 221-5672 95 0 0 0 0 0 0 0 0 0 8 - - 94 4.25 1.25 2500 Team Managed - - 800 221-5672 90 0 0 0 3 0 0 0 0 0 - - - 100 None 1.87 1000 Jeffrey D. Parker 8/09 0.4 888 852-3922 92 0 0 0 3 0 0 0 0 0 - - - 98 5.50 1.08 1000 Team Managed - - 888 852-3922

▼ 0 74 0 0 13 0 2 0 0 8 0 - - 96 5.50 1.06 1000 Team Managed - - 888 852-3922 0 36 18 34 0 5 2 0 0 0 5 - - 95 5.50 1.18 1000 Team Managed - - 888 852-3922 23 ▲ 10 0 0 25 8 0 17 0 8 - - 0 96 None 1.37 1 Mil Jill K. Evans 9/03 -3.8 888 785-5578

▼ 52 ▲ 10 ▲ 14 0 14 6 0 0 0 0 - - - 97 None 1.11 250 Nicholas Kaiser 2/94 1.7 888 732-6262 84 0 0 10 0 0 0 0 0 0 2 - - 98 None 1.27 2500 Team Managed - - 800 658-5811 0 87 0 0 12 0 0 0 0 0 5 - 0 95 None 0.32 0 Team Managed - - 800 658-5811 81 0 16 0 0 0 0 0 0 0 1 - - 99 None 0.84 2500 Team Managed - - 800 345-2021 48 ▲ 45 0 0 4 0 0 ▼ 0 0 0 1 - - 99 None 0.68 2500 William Martin 6/97 0.2 800 345-2021

▼ 10 ▲ 44 0 0 6 0 0 ▼ 0 ▲ 18 ▲ 11 0 - 23 75 None 0.90 2500 Team Managed - - 800 345-2021 67 15 0 0 4 0 0 10 0 0 1 - - 99 None 0.97 Closed Gregory J. Woodhams 9/97 -0.8 800 345-2021

▼ 57 0 23 0 0 0 0 ▲ 15 0 0 0 - - 100 5.75 1.26 2500 David M. Hollond 2/07 2.6 800 345-2021 15 48 0 14 3 0 0 0 ▲ 16 0 2 - - 96 None 1.56 2500 Team Managed - - 800 345-2021 90 0 0 0 6 0 0 0 0 0 0 - - 100 None 1.01 2500 Keith Lee 10/01 -2.0 800 345-2021 97 0 0 0 0 0 0 0 0 0 1 - - 99 None 0.99 2500 Keith Lee 12/08 1.2 800 345-2021 0 ▲ 77 0 5 13 0 0 0 0 0 3 - - 99 None 1.48 2500 Team Managed - - 800 345-2021 24 46 0 10 0 0 0 0 15 0 1 - - 99 None 1.26 2500 John T. Small Jr. 11/99 -2.1 800 345-2021 58 0 20 0 0 0 0 18 0 0 2 - 3 95 None 1.01 2500 Bradley J. Eixmann 1/02 -0.8 800 345-2021 69 27 0 0 0 0 0 0 0 0 13 - - 88 5.75 0.74 250 Team Managed - - 800 421-0180 18 0 0 0 26 3 0 0 23 21 5 19 0 73 5.75 0.61 250 Team Managed - - 800 421-0180 44 31 0 0 10 2 0 0 ▲ 10 0 5 0 - 91 5.75 0.64 250 Team Managed - - 800 421-0180 62 17 0 0 0 0 0 0 19 0 9 0 0 86 5.75 0.71 250 Team Managed - - 800 421-0180 40 24 0 0 14 0 0 0 18 0 8 1 1 88 5.75 0.62 250 Team Managed - - 800 421-0180 38 23 0 0 9 0 0 0 22 0 7 2 0 85 5.75 0.62 250 Team Managed - - 800 421-0180 24 42 0 0 8 0 0 0 ▲ 19 0 2 - - 96 5.75 0.62 250 Team Managed - - 800 421-0180 0 66 0 0 7 0 3 0 17 0 8 - - 92 5.75 1.48 5000 Team Managed - - 888 266-8787 38 41 16 0 0 0 0 0 0 0 - - - 97 None 1.15 1000 John W. Rogers Jr. 12/11 - 800 292-7435 27 31 30 0 4 0 0 0 0 0 - - - 99 None 1.05 1000 Team Managed - - 800 292-7435 72 0 21 0 0 0 0 0 0 0 3 - - 97 None 1.22 1000 Team Managed - - 800 344-1770 17 45 17 0 0 0 2 ▲ 13 0 0 6 - - 94 None 1.20 1000 Team Managed - - 800 344-1770 0 20 16 56 0 0 1 0 0 0 - - - 93 None 1.22 1000 Team Managed - - 800 344-1770 79 0 0 0 12 0 0 0 0 0 - - - 97 None 1.04 2500 Ronald E. Canakaris 11/04 0.1 800 992-8151

▼ 20 34 0 0 13 0 0 0 25 0 - 9 - 85 None 1.25 5000 J. Jeffrey Auxier 4/01 2.3 877 328 9437 67 0 15 11 0 0 0 0 0 0 1 - - 97 None 1.48 1000 James L. Bashaw 5/03 0.9 888 726-0753 27 ▲ 60 0 7 0 0 1 0 0 0 5 - - 95 None 0.99 1000 George P. Schwartz 5/05 3.2 888 726-0753

▼ 37 ▲ 38 0 0 18 0 0 0 0 0 - 4 - 89 None 1.09 10000 Team Managed - - 800 625-5759 71 0 7 0 0 0 0 17 0 0 33 - 1 98 None 1.24 1000 Alan K. Creech 3/07 2.5 800 236-3863 30 ▲ 66 0 0 0 0 0 ▼ 0 0 0 26 - 2 96 None 1.24 1000 Daniel P. Brown 6/04 -0.4 800 236-3863

▲ 28 ▼ 0 27 0 5 0 0 0 33 0 34 - - 98 None 1.23 1000 Kenneth S. Salmon 12/04 0.5 800 236-3863 38 35 25 0 0 0 0 0 0 0 6 - 0 96 None 0.93 10000 Team Managed - - 800 554-4611 56 12 25 0 0 0 0 0 0 0 - - - 98 None 1.33 2000 Andrew Peck 7/03 0.6 800 992-2766 38 0 28 8 0 0 0 ▲ 19 0 ▼ 0 4 - - 95 None 1.32 2000 Ronald Baron 1/95 3.9 800 992-2766

▲ 38 23 27 0 0 0 0 0 0 0 0 - - 134 None 1.36 2000 Ronald Baron 4/03 2.2 800 992-2766 31 0 23 22 6 0 0 0 12 0 0 - - 96 None 1.31 2000 Clifford Greenberg 9/97 2.6 800 992-2766 11 87 0 0 0 0 0 0 0 0 2 - - 100 5.25 0.83 1000 Carrie King 1/09 1.5 800 441-7762 95 0 0 0 0 0 0 0 0 0 8 - - 100 5.25 1.10 1000 Edward Dowd 12/02 -1.4 800 441-7762

▲ 43 33 0 0 0 10 0 0 0 0 16 - - 83 5.25 1.43 1000 Anthony Forcione 1/05 -1.7 800 441-7762 30 51 0 0 0 0 0 16 0 0 3 - - 99 5.25 1.26 1000 Peter Stournaras 10/10 2.0 800 441-7762 57 17 0 0 4 0 0 17 0 0 5 - - 96 5.25 1.26 1000 Peter Stournaras 10/10 1.4 800 441-7762 36 20 10 11 0 0 0 20 0 0 13 - - 100 5.25 1.68 1000 Jean Rosenbaum 11/02 1.8 800 441-7762 58 0 12 10 0 0 0 ▼ 0 ▲ 16 0 3 - - 97 None 1.21 2000 Team Managed - - 800 656-3017

GENERAL EQUITY






1 2 S E P T E M B E R 2 0 1 3


GENERAL EQUITY

Bridgeway Ultra-Small Company (BRUSX) SC/SV 40.28 3 5 2 32.8 3.2 19.7 43.5 24.2 9.9 9.7 234.5 -61.1 0.0Brown Capital Mgmt Sm Co Inv (BCSIX) SC/SG 63.99 2 4 1 26.5 10.7 14.9 33.6 24.6 13.2 11.4 195.0 -40.9 0.0Buffalo Growth Fund (BUFGX) GR/GW 32.30 ▲ 2 3 2 17.7 3.0 11.6 19.7 17.6 8.2 8.0 156.1 -46.7 0.4Buffalo Mid Cap Fund (BUFMX) SC/MG 19.41 3 4 3 14.4 2.9 10.9 14.7 13.2 7.7 8.1 141.9 -49.4 0.1CG Cap Mkts Large Cap Growth (TLGUX) GR/LG 19.29 2 3 2 15.6 2.7 9.2 18.1 18.2 6.4 7.3 138.5 -47.2 0.3CG Cap Mkts Large Cap Val Eq (TLVUX) GI/LV 11.24 2 3 3 17.8 1.1 9.9 21.7 16.8 5.3 7.7 144.3 -48.8 1.8CRM Mid Cap Value Inv A (CRMMX) GR/MV 35.35 2 3 3 16.5 1.5 9.1 23.5 16.6 6.1 9.7 125.2 -44.4 0.8Calamos Growth Fund C (CVGCX) GR/MG 46.60 4 4 3 12.1 4.4 8.0 11.0 11.2 3.0 5.2 121.9 -58.3 0.0Calvert Equity Port A (CSIEX) Y GR/LG 43.15 3 3 2 12.3 1.3 6.7 15.3 15.9 6.4 6.3 139.2 -46.7 0.0Chase Growth Fund (CHASX) GR/LG 15.00 3 2 3 11.5 -0.3 6.0 9.6 14.9 3.1 6.3 87.6 -42.4 0.3ClearBridge Aggressive Growth A (SHRAX) Y AG/LG 158.56 1 3 1 25.4 2.1 16.3 28.2 24.2 10.1 7.9 192.6 -51.9 0.0ClearBridge All Cap Value A (SHFVX) Y GR/LV 16.19 3 3 3 15.5 -0.4 6.2 20.6 15.2 5.4 5.4 131.8 -50.9 0.8ClearBridge Appreciation Fund A (SHAPX) Y GR/LB 17.97 2 2 3 14.5 0.6 7.4 16.4 16.6 7.0 7.3 124.6 -41.8 1.1ClearBridge Equity Fund O (SABRX) GI/LG 15.47 3 3 3 15.1 0.6 8.1 17.3 15.9 5.7 7.9 129.5 -49.6 1.2ClearBridge Large Cap Growth A (SBLGX) Y GR/LG 27.04 1 3 3 18.3 1.8 9.9 22.0 19.1 8.7 5.6 141.5 -46.0 0.0ClearBridge Mid Cap Core B (SBMDX) Y GR/MB 23.97 2 4 2 19.6 3.9 11.5 26.5 19.0 7.6 7.9 155.6 -47.7 0.3Clipper Fund (CFIMX) GR/LV 81.10 1 2 2 17.8 -0.5 9.0 23.1 16.8 7.3 3.6 180.1 -61.5 1.6Columbia Acorn Fund Z (ACRNX) SC/SV 34.63 2 3 1 15.2 2.3 8.4 21.3 17.5 8.4 10.1 168.7 -51.5 0.5Columbia Acorn Select Fund A (LTFAX) Y GR/MG 27.34 3 ▲ 4 3 16.6 1.7 8.7 21.6 14.2 5.1 7.6 166.6 -58.4 0.2Columbia Acorn USA Fund Z (AUSAX) SC/SG 34.24 2 4 1 16.4 3.3 9.6 22.6 19.7 8.5 9.2 180.9 -52.3 0.5Columbia Contrarian Core A (LCCAX) Y GI/LV 19.15 1 3 2 19.0 1.8 10.6 23.2 20.1 9.0 8.7 163.6 -46.2 0.6Columbia Diversified Eqty Inc A (INDZX) Y IN/VL 12.21 2 3 3 16.0 -0.2 8.3 20.4 15.9 5.2 8.4 143.9 -55.0 1.6Columbia Dividend Income Fund A (LBSAX) Y IN/LV 16.74 2 2 3 14.6 -1.4 6.9 15.1 16.4 7.8 8.4 129.3 -43.4 1.8Columbia Large Cap Growth Fund Z (GEGTX) GR/LG 31.48 ▲ 2 3 2 14.2 2.0 8.0 15.7 18.6 7.2 6.8 143.4 -49.6 0.4Columbia Large Cap Index Z (NINDX) GI/XL 31.77 2 3 2 16.0 0.6 8.8 18.4 18.2 7.2 7.0 150.4 -51.0 1.8Columbia Marsico Focused Eq A (NFEAX) Y GR/LG 21.53 3 3 2 16.9 -1.4 10.3 17.6 17.2 6.5 6.6 131.7 -50.7 0.4Columbia Marsico Growth A (NMGIX) Y GR/LG 24.86 3 3 2 16.7 0.0 10.2 17.4 17.7 6.3 6.4 136.7 -53.5 0.2Columbia Mid Cap Growth Fund Z (CLSPX) GR/MG 30.91 3 4 2 16.2 3.4 10.1 16.9 16.6 7.3 8.7 160.4 -51.4 0.0Columbia Mid Cap Value Opport A (AMVAX) Y GR/MG 10.22 2 3 2 20.5 1.4 10.6 28.7 18.4 7.2 10.7 183.6 -57.0 0.4Columbia Mid Cap Value Z (NAMAX) GI/MG 17.32 1 3 2 17.7 1.0 8.7 24.8 18.5 7.4 9.6 173.1 -54.5 0.8Columbia Select Large Cap Gr Z (UMLGX) GR/LG 17.07 3 4 2 23.2 8.8 14.3 27.8 20.7 8.8 9.3 168.6 -51.7 0.0Columbia Value & Restructuring Z (UMBIX) GR/VL 52.31 3 4 3 19.4 1.7 10.9 23.7 16.1 4.1 8.4 164.1 -58.5 0.9Commerce Mid Cap Growth (CFAGX) GR/MG 35.60 2 3 2 15.0 0.4 6.7 18.5 16.5 7.8 8.2 151.0 -48.0 0.3Croft Value Fund (CLVFX) GR/LB 27.27 ▲ 3 4 3 9.6 0.3 5.0 14.2 13.5 4.5 7.8 138.6 -53.2 0.7DWS Capital Growth A (SDGAX) Y GR/LG 67.13 3 3 3 14.1 1.3 8.3 13.3 16.0 5.2 6.2 110.9 -42.7 0.7DWS Small Cap Growth S (SSDSX) SC/SG 30.75 ▲ 2 4 ▲ 1 23.5 6.5 16.3 26.0 22.8 9.4 — 216.5 -59.4 0.0Davenport Core Fund (DAVPX) GR/LG 17.51 1 2 3 15.3 0.7 8.1 19.7 18.0 7.7 7.4 138.7 -47.8 0.6Davis Opportunity A (RPEAX) Y GR/MB 28.49 1 3 ▼ 3 21.6 1.7 10.3 29.2 17.7 8.0 6.6 150.9 -54.7 1.1Delafield Fund Inc (DEFIX) SC/SV 34.52 3 5 2 13.0 0.9 6.5 24.0 17.6 9.1 10.6 215.2 -52.0 0.0Delaware Dividend Income C (DDICX) IN/LV 12.10 2 2 3 10.4 0.0 5.0 14.5 12.2 7.1 — 114.3 -42.5 1.9Delaware Select Growth A (DVEAX) Y AG/GW 47.10 2 3 1 17.1 4.8 12.8 18.8 21.4 13.5 9.3 222.1 -54.2 0.0Delaware US Growth A (DUGAX) Y GR/LG 20.23 2 3 1 15.1 3.6 8.7 17.2 20.6 9.3 6.8 162.1 -50.8 0.0Delaware Value Fund A (DDVAX) Y GI/LV 14.68 1 2 2 18.9 1.7 10.1 23.6 21.0 8.9 8.0 146.2 -48.0 1.8Diamond Hill Long-Short A (DIAMX) Y GR/LS 20.63 3 2 4 13.7 0.7 6.9 17.3 11.5 3.5 8.1 79.5 -35.5 0.1Dodge & Cox Stock Fund (DODGX) GI/LV 145.56 ▲ 1 3 3 20.4 2.5 12.6 27.6 19.9 6.8 7.6 176.2 -57.9 1.3Dreyfus Appreciation Fund (DGAGX) GR/LB 47.15 3 2 3 8.3 -1.2 3.6 8.0 14.9 6.0 6.2 123.8 -45.4 1.6Dreyfus Basic S&P 500 Stock Idx (DSPIX) GI/LB 33.54 2 3 2 16.0 0.6 8.9 18.5 18.2 7.2 7.0 150.7 -51.0 1.7Dreyfus Disciplined Stock Fund (DDSTX) GI/LB 37.00 3 3 3 12.6 1.0 7.5 14.4 14.4 5.2 6.1 129.5 -51.2 0.8Dreyfus Fund (DREVX) GI/LB 11.08 3 3 3 14.3 1.5 8.1 16.7 15.7 6.0 6.4 136.1 -50.5 1.1Dreyfus Growth & Income Fund (DGRIX) GI/LV 18.42 2 3 2 17.4 1.7 10.2 22.0 18.1 6.9 6.4 152.5 -52.1 1.0Dreyfus MidCap Index Fund (PESPX) GR/XM 33.76 1 3 1 16.8 0.2 8.0 23.2 19.1 9.0 9.6 186.6 -49.5 0.9Dreyfus Opportunistic Midcap Val A (DMCVX) Y GR/MV 38.27 2 4 1 19.7 1.8 9.7 30.1 20.0 12.3 10.9 224.6 -48.7 0.2Dreyfus Research Growth Z (DREQX) GR/LB 12.06 2 3 1 15.6 3.2 10.0 17.5 18.5 9.0 7.6 152.6 -46.7 0.4Dreyfus S&P 500 Index Fund (PEOPX) GI/X5 44.48 2 3 3 15.8 0.5 8.7 18.2 17.9 6.9 6.6 147.1 -51.2 1.5Dreyfus Tax Mgd Grwth A (DTMGX) Y GR/LG 22.47 3 2 3 8.0 -1.4 3.2 6.6 14.7 6.2 5.9 121.1 -43.8 1.3Eagle Growth & Income A (HRCVX) Y GI/VL 15.75 2 2 3 15.1 0.1 7.7 17.4 16.1 9.1 8.8 141.3 -48.2 1.9Eagle Mid Cap Growth A (HAGAX) Y GR/MG 37.98 2 4 2 19.2 2.4 11.1 24.8 18.7 8.0 9.3 162.4 -46.9 0.0Eaton Vance Large Cap Growth A (EALCX) Y GR/LG 20.20 3 3 3 16.3 2.3 10.1 16.3 15.5 6.2 6.8 122.7 -47.0 0.0Eaton Vance Large Cap Value A (EHSTX) Y GI/LV 22.16 3 3 3 14.5 -0.6 8.3 17.8 14.4 3.4 7.2 111.3 -49.0 1.4FAM Value Fund (FAMVX) GR/MV 58.14 3 3 3 18.9 2.2 10.1 17.9 15.7 7.1 6.6 127.6 -44.1 0.1







S E P T E M B E R 2 0 1 3 1 3

GENERAL EQUITY

0 0 ▼ 32 45 0 0 0 0 0 ▲ 12 0 - - 99 None 1.17 2000 Team Managed - - 800 661-3550 0 0 87 0 0 0 0 0 0 0 4 - - 95 None 1.27 5000 Team Managed - - 877 892-4226 42 20 23 0 8 0 0 0 0 0 1 - - 99 None 0.91 2500 Team Managed - - 800 492-8332 43 0 48 0 0 0 0 0 0 0 2 - - 98 None 1.01 2500 Team Managed - - 800 492-8332

▼ 83 0 0 3 2 0 0 ▲ 10 0 0 5 - - 97 None 0.68 100 Team Managed - - 800 444-4273 14 75 0 0 7 0 1 0 0 0 6 - - 96 None 0.69 100 Team Managed - - 800 444-4273 20 46 11 6 0 0 0 ▲ 12 0 0 8 - - 96 None 1.02 2500 Team Managed - - 800 276-2883 85 0 11 0 0 0 0 0 0 0 0 - - 99 None 2.04 2500 Team Managed - - 800 582-6959 77 18 0 0 0 0 0 0 0 0 3 1 - 96 4.75 1.19 2000 Richard B. England 7/06 0.5 800 368-2745 95 0 0 0 0 0 0 0 0 0 2 - - 98 None 1.39 2000 Team Managed - - 888 861-7556 86 0 0 0 0 0 0 0 0 0 1 - - 98 5.75 1.27 1000 Richard Freeman 10/83 1.0 800 822-5544 10 68 0 4 15 0 0 0 ▼ 0 0 2 - - 98 5.75 1.39 1000 John G. Goode 11/90 0.1 800 822-5544 45 ▲ 25 0 0 8 0 0 17 0 0 - - - 94 5.75 1.04 1000 Scott Glasser 12/01 0.6 800 822-5544 49 ▲ 43 0 0 4 0 0 0 0 0 0 - - 99 None 0.76 50 Michael A. Kagan 12/95 -0.3 800 822-5544 95 0 0 0 0 0 0 0 0 0 0 - - 99 5.75 2.62 1000 Peter Bourbeau 7/09 1.6 800 822-5544 32 21 9 11 0 0 0 23 0 0 - - - 98 5.00R 2.10 1000 Brian M. Angerame 5/05 1.0 800 822-5544

▼ 23 ▲ 66 0 0 3 0 0 0 0 0 5 - - 95 None 0.74 2500 Christopher Davis 1/06 -1.5 800 432-2504 35 0 33 13 3 0 0 0 13 0 3 - - 97 None 0.78 2000 Charles P. McQuaid 12/95 1.5 800 345-6611

▲ 43 15 21 13 0 0 1 0 ▼ 0 0 2 - - 98 5.75 1.32 2000 Ben Andrews 3/04 -1.2 800 345-6611 34 0 46 16 0 0 0 0 0 0 2 - - 98 None 1.07 2000 Robert A. Mohn 9/96 2.5 800 345-6611 40 39 0 0 8 0 0 10 0 0 1 - 1 98 5.75 1.16 2000 Guy W. Pope 3/05 3.8 800 345-6611 22 ▲ 68 0 0 7 0 0 ▼ 0 0 0 1 - 0 98 5.75 1.08 Closed Team Managed - - 800 345-6611

▼ 39 ▲ 38 0 0 4 0 0 0 0 8 3 - 1 94 5.75 1.03 2000 Team Managed - - 800 345-6611 91 6 0 0 0 0 0 0 0 0 2 - - 97 None 0.95 Closed John T. Wilson 8/05 0.4 800 345-6611 41 42 0 0 6 0 0 0 8 0 2 - 0 98 None 0.19 2000 Alfred F. Alley III 7/09 0.5 800 345-6611 90 0 0 0 0 0 0 0 0 0 1 - - 99 5.75 1.29 2000 Team Managed - - 800 345-6611 93 0 0 0 0 0 0 0 0 0 3 - - 99 5.75 1.26 2000 Team Managed - - 800 345-6611 58 0 20 0 0 0 0 19 0 0 1 - 3 97 None 0.96 2000 Team Managed - - 800 345-6611 28 53 0 15 0 0 0 0 0 0 3 - 0 95 5.75 1.18 Closed Team Managed - - 800 345-6611 16 47 9 11 0 0 0 ▲ 13 0 0 2 - - 98 None 0.94 Closed Lori J. Ensinger 11/01 1.5 800 345-6611 86 0 0 0 0 0 0 0 0 0 1 - - 99 None 0.87 0 Team Managed - - 800 345-6611 46 43 0 0 8 0 0 0 0 0 0 - 1 99 None 0.98 2000 Guy W. Pope 2/09 -3.9 800 345-6611

▼ 41 10 24 0 4 0 0 0 ▲ 15 0 0 - - 95 None 1.09 1000 Joseph C. Williams III 12/94 -3.0 800 995-6365 35 50 0 8 0 0 3 0 0 0 3 - - 97 None 1.02 2000 Team Managed - - 800 551-0990 92 0 0 0 5 0 0 0 0 0 16 - - 99 5.75 1.02 1000 Team Managed - - 800 621-1048 27 0 59 10 0 0 0 0 0 0 26 - - 98 None 1.23 2500 Joseph Axtell 12/06 -0.7 800 621-1048 49 29 0 0 0 0 0 ▼ 0 ▲ 18 0 2 - - 94 None 0.95 5000 Team Managed - - 800 443-4249

▲ 47 38 0 0 7 0 0 0 0 0 7 - - 93 4.75 0.99 1000 Team Managed - - 800 279-0279 0 37 21 27 0 7 0 0 0 0 15 3 - 81 None 1.22 1000 J. Dennis Delafield 11/93 0.7 800 697-3863 17 25 0 0 5 0 0 11 26 9 9 18 12 59 None 1.87 1000 Team Managed - - 800 523-1918 51 0 14 0 0 4 0 ▲ 21 ▼ 0 0 3 - - 96 5.75 1.27 1000 Team Managed - - 800 523-1918

▼ 72 0 0 0 4 0 0 ▲ 17 0 0 2 - - 97 5.75 1.10 1000 Team Managed - - 800 523-1918▼ 26 ▲ 47 0 0 4 0 0 0 0 13 4 - - 95 5.75 1.03 1000 Team Managed - - 800 523-1918▼ 0 ▲ 90 0 0 0 0 0 0 0 0 38 - - 81 5.00 1.75 2500 Team Managed - - 888 226-5595

12 ▲ 74 0 0 8 0 0 0 0 0 1 - - 99 None 0.52 2500 Team Managed - - 800 621-3979▼ 21 ▲ 22 0 0 27 0 0 ▼ 0 ▲ 22 0 4 - - 98 None 0.97 2500 Team Managed - - 800 782-6620

42 40 0 0 6 0 0 9 0 0 2 0 0 99 None 0.20 10000 Richard A. Brown 1/02 -0.3 800 782-6620 44 49 0 0 4 0 0 0 0 0 2 - - 99 None 1.00 2500 Sean P. Fitzgibbon 10/04 -0.1 800 782-6620 45 40 0 0 3 0 0 0 9 0 1 - - 98 None 0.76 2500 Team Managed - - 800 782-6620 57 41 0 0 0 0 0 0 0 0 6 - 1 97 None 0.99 2500 John Bailer 9/08 1.6 800 782-6620 25 13 18 15 0 3 0 ▲ 21 0 ▼ 0 3 0 - 97 None 0.50 2500 Team Managed - - 800 782-6620 20 47 29 0 0 0 0 0 0 0 1 - 2 96 5.75 1.18 1000 Team Managed - - 800 782-6620 97 0 0 0 0 0 0 0 0 0 4 - 1 97 None 1.01 1000 Team Managed - - 800 782-6620 42 41 0 0 6 0 0 ▼ 0 9 0 1 0 0 99 None 0.50 2500 Team Managed - - 800 782-6620

▼ 19 ▲ 21 0 0 26 0 0 ▼ 0 ▲ 24 0 4 - - 98 5.75 1.35 1000 Team Managed - - 800 782-6620▼ 21 ▲ 39 0 0 12 0 0 ▼ 0 ▲ 20 0 - - - 98 4.75 1.12 1000 Team Managed - - 800 237-3101

40 23 18 0 0 0 0 0 ▲ 12 0 - - - 99 4.75 1.22 1000 Team Managed - - 800 237-3101 92 0 0 5 0 0 0 0 0 0 2 - - 98 5.75 1.25 1000 Lewis R. Piantedosi 9/02 -0.8 800 262-1122 12 77 0 0 6 0 0 0 0 0 1 - - 98 5.75 1.00 1000 Team Managed - - 800 262-1122 19 35 20 11 0 0 0 0 10 0 6 - - 93 None 1.21 500 Thomas O. Putnam 1/87 -0.6 800 932-3271






1 4 S E P T E M B E R 2 0 1 3


GENERAL EQUITY

FMI Common Stock Fund (FMIMX) GR/MB 27.45 1 3 1 14.8 1.6 7.5 20.3 18.0 10.3 10.6 165.8 -38.4 0.3FMI Large Cap Fund (FMIHX) GR/LB 19.89 2 2 3 16.3 -0.6 8.2 17.7 15.5 7.6 8.9 132.9 -41.7 0.9Federated Kaufmann K (KAUFX) AG/MG 6.03 3 4 ▲ 3 20.1 3.6 12.7 24.6 13.6 4.7 7.4 118.4 -51.0 0.0Federated MDT Stock Trust Svc (FSTKX) GI/LB 26.60 2 3 3 21.2 0.8 10.5 30.8 20.5 7.9 7.5 152.1 -47.6 1.1Federated Max-Cap Index C (MXCCX) GI/XL 15.18 2 3 3 15.4 0.4 8.5 17.6 17.1 6.1 5.8 139.3 -51.7 0.7Federated Mid-Cap Index Fund Svc (FMDCX) GR/XM 25.11 1 3 1 16.9 0.2 8.0 23.2 19.1 9.0 9.6 187.4 -49.5 0.9Fidelity 100 Index Fund (FOHIX) GI/XL 10.81 2 2 3 14.8 0.2 8.2 15.7 17.9 6.8 — 138.4 -50.2 6.9Fidelity Blue Chip Growth (FBGRX) GR/LG 58.97 2 3 1 20.2 3.9 13.7 21.7 20.6 10.3 7.6 178.0 -48.8 0.4Fidelity Capital Appreciation (FDCAX) GR/LG 34.30 1 3 1 16.7 1.5 11.0 20.7 19.3 9.4 8.1 177.3 -55.2 0.5Fidelity Contrafund (FCNTX) GR/LB 88.70 2 2 2 16.5 1.8 9.6 18.2 17.7 8.0 9.7 137.2 -46.3 0.2Fidelity Dividend Growth Fund (FDGFX) GR/LG 34.42 2 4 2 15.1 1.1 8.7 19.7 17.0 8.0 6.1 183.9 -56.0 0.8Fidelity Equity-Income Fund (FEQIX) IN/LV 53.95 ▼ 3 3 3 15.8 0.7 8.4 20.3 16.4 5.8 6.2 154.4 -57.1 2.2Fidelity Equity-Income II Fund (FEQTX) IN/LV 22.22 3 3 3 15.2 0.2 7.6 17.6 16.0 5.0 5.1 144.5 -56.1 2.1Fidelity Export & Multinational (FEXPX) GR/LB 24.42 3 3 3 11.6 -0.4 6.4 14.1 14.9 4.9 7.1 125.3 -53.5 0.6Fidelity Fifty Fund (FFTYX) AG/LG 24.08 1 3 ▲ 1 19.2 3.5 11.9 24.0 18.6 6.1 5.9 157.3 -58.7 0.2Fidelity Focused Stock Fund (FTQGX) GR/LG 18.03 ▼ 2 3 2 19.0 3.4 11.8 23.9 21.9 8.8 10.4 159.6 -45.7 0.2Fidelity Fund (FFIDX) GI/LB 38.26 3 3 3 12.5 -0.8 6.2 14.9 16.6 5.1 6.6 129.5 -51.7 1.0Fidelity Growth & Income Port (FGRIX) GI/LB 24.98 2 3 3 18.5 1.3 11.3 23.3 20.8 3.9 3.1 158.9 -63.1 1.7Fidelity Growth Company (FDGRX) GR/LG 112.39 2 3 1 20.6 4.6 15.5 20.2 21.5 10.2 10.1 176.8 -50.3 0.2Fidelity Growth Discovery (FDSVX) GR/LG 18.55 ▲ 2 3 2 19.2 5.0 14.1 18.2 20.7 7.0 7.6 154.4 -55.9 0.3Fidelity Growth Strategies Fund (FDEGX) AG/GW 24.83 3 4 3 19.9 3.2 11.0 24.1 15.7 7.0 6.2 145.4 -58.6 0.4Fidelity Independence Fund (FDFFX) GR/LB 30.81 3 5 2 18.9 2.3 11.2 25.0 18.3 4.3 8.1 163.8 -57.9 0.2Fidelity Large Cap Stock Fund (FLCSX) GR/LG 24.17 1 3 1 21.1 2.8 13.6 27.0 21.6 10.4 8.0 212.7 -58.2 0.9Fidelity Leveraged Company Stock (FLVCX) GR/MB 38.33 2 5 2 19.0 1.4 11.0 30.7 21.9 5.6 11.9 237.2 -64.6 0.3Fidelity Low-Priced Stock (FLPSX) SC/SV 46.98 1 3 1 18.9 3.0 12.9 25.2 19.6 10.6 10.7 183.3 -48.9 1.0Fidelity Magellan Fund (FMAGX) GR/LB 85.65 ▲ 3 3 3 17.4 2.9 11.0 20.1 15.0 3.1 4.6 131.9 -58.3 1.0Fidelity New Millennium (FMILX) AG/GW 36.18 1 3 1 19.4 2.6 11.7 23.6 20.3 10.4 9.4 185.7 -52.1 0.9Fidelity OTC Portfolio (FOCPX) GR/MB 78.60 3 4 2 29.7 11.3 24.5 29.1 23.1 12.1 10.4 204.8 -53.6 0.3Fidelity Select IT Services (FBSOX) GR/GW 31.75 1 4 1 26.6 6.4 15.8 32.6 25.1 14.3 13.3 209.0 -38.8 0.0Fidelity Small Cap Stock Fund (FSLCX) SC/SB 19.39 3 5 3 13.7 1.8 7.9 17.3 12.4 6.4 8.0 171.0 -55.9 0.4Fidelity Spartan Tot Mkt Index Inv (FSTMX) GR/XE 48.05 1 3 2 16.9 1.1 9.4 20.1 18.8 7.7 7.7 159.2 -51.0 1.5Fidelity Stock Selector All Cap (FDSSX) GR/LB 33.22 2 3 2 17.3 2.6 10.3 21.1 18.0 6.2 7.0 145.2 -52.9 0.8First Eagle Fund of America Y (FEAFX) GR/VL 32.94 1 3 2 14.4 1.9 8.5 22.5 18.1 7.7 9.9 131.1 -38.0 0.0First Inv Equity Income A (FIUTX) Y GI/LV 8.80 2 2 3 16.0 0.8 8.4 18.5 15.2 6.1 7.2 123.0 -45.0 1.4First Inv Growth & Income A (FGINX) Y GI/LB 19.93 2 3 2 20.1 2.3 11.7 23.5 20.4 7.9 7.5 156.2 -49.7 1.0Franklin Balance Sheet Investmt A (FRBSX) Y SC/SV 50.02 2 3 3 18.8 1.4 9.9 29.6 17.0 6.0 7.9 159.7 -54.8 1.2Franklin Flex Cap Growth A (FKCGX) Y GR/LG 54.91 3 3 3 17.1 3.7 11.2 17.1 15.1 5.8 7.2 121.4 -47.2 0.0Franklin Growth C (FRGSX) GR/LG 53.47 ▲ 2 3 2 12.4 1.0 7.3 15.6 15.1 6.4 7.2 131.0 -47.8 0.0Franklin Rising Dividends A (FRDPX) Y GI/LV 44.01 1 2 2 16.4 1.7 8.4 20.9 16.9 8.4 7.0 147.2 -44.9 1.2Franklin Small-Mid Cap Growth A (FRSGX) Y SC/SG 40.70 ▲ 2 4 2 20.0 3.4 11.1 23.5 17.8 8.6 8.2 163.4 -52.9 0.0FundX Upgrader Fund (FUNDX) GR/LG 40.19 3 3 4 13.0 1.4 7.9 16.6 13.7 3.0 7.0 104.8 -54.1 0.6GAMCO Growth AAA (GABGX) GR/LV 40.30 3 3 3 15.8 1.7 9.5 17.7 16.7 5.1 5.9 130.6 -52.1 0.1GE Elfun Trusts (ELFNX) GR/LB 52.00 2 3 2 18.0 3.2 10.4 19.7 20.6 8.7 7.3 158.9 -45.6 1.3Gabelli Asset AAA (GABAX) GI/MV 60.34 1 3 1 16.3 1.2 9.1 23.5 18.0 8.6 9.6 171.2 -50.6 0.8Gabelli Equity Income AAA (GABEX) IN/LV 25.92 1 2 ▼ 2 15.9 -0.1 8.2 20.4 16.9 7.7 8.8 153.3 -48.1 2.1Gabelli Small Cap Growth AAA (GABSX) SC/SG 43.22 1 3 1 17.9 1.8 9.7 28.5 19.2 9.7 11.1 174.6 -45.3 0.5Gateway Fund A (GATEX) Y GI/MK 27.91 4 1 5 3.6 -0.7 1.0 3.5 6.0 1.5 3.9 41.2 -24.1 1.5Glenmede Large Cap Growth Fund (GTLLX) GR/LG 18.17 1 3 1 18.0 2.4 10.6 21.6 20.6 8.6 — 168.3 -49.7 0.6Goldman Sachs Growth Opp A (GGOAX) Y GR/MG 26.65 2 3 1 16.3 3.4 9.2 19.8 17.3 9.1 9.4 179.1 -47.9 0.0Goldman Sachs Mid Cap Value A (GCMAX) Y GR/MV 46.08 1 3 2 18.1 1.3 8.9 24.2 17.2 7.7 10.0 161.3 -48.8 0.7Guggenheim Mid Cap Value A (SEVAX) Y GR/MB 36.55 ▼ 3 3 3 18.7 1.4 8.5 26.9 15.5 9.4 11.3 154.3 -40.8 0.0Harbor Small Cap Growth Inv (HISGX) SC/SG 13.92 3 5 2 23.5 3.9 12.0 27.6 19.8 8.5 8.3 180.6 -49.7 0.0Hartford Capital Apprec C (HCACX) AG/LB 37.05 3 3 ▲ 3 21.5 1.4 13.4 32.7 13.9 4.0 8.0 134.1 -56.7 0.0Hartford Dividend & Growth A (IHGIX) Y GI/LB 23.82 3 2 3 16.4 0.5 9.2 17.7 15.5 6.3 7.8 129.3 -46.1 1.4Hartford Equity Income A (HQIAX) Y IN/LV 16.86 2 2 3 15.9 0.5 8.3 17.2 17.7 8.7 8.4 146.5 -45.6 1.7Hartford Growth Fund A (HGWAX) Y GR/LG 21.70 3 4 3 16.7 2.8 9.9 20.0 17.1 6.0 6.0 124.6 -50.0 0.0Hartford MidCap Fd A (HFMCX) Y GR/MB 23.86 3 4 3 21.9 2.4 12.2 18.8 15.7 6.1 9.3 131.6 -46.3 0.0Hartford Value Fd A (HVFAX) Y GI/LV 13.94 3 3 3 17.5 0.6 9.4 15.3 14.6 5.5 8.0 125.8 -48.4 2.1Heartland Select Value Fund Inv (HRSVX) GR/MV 34.37 3 3 3 17.8 0.7 9.6 22.2 13.8 5.9 9.2 141.0 -46.5 0.4Hennessy Total Return Fund (HDOGX) GI/LV 13.80 2 1 3 11.4 -0.6 4.8 10.4 13.2 6.9 5.3 127.1 -49.5 1.1







S E P T E M B E R 2 0 1 3 1 5

GENERAL EQUITY

▲ 32 24 ▼ 0 37 0 0 0 0 0 0 17 - - 83 None 1.19 Closed Team Managed - - 800 811-5311 34 49 0 0 10 0 0 0 0 0 9 - - 90 None 0.95 1000 Team Managed - - 800 811-5311 69 0 24 0 0 0 0 0 0 0 - 0 0 97 None 1.95 0 Team Managed - - 800 341-7400 0 90 0 5 0 0 1 0 0 0 - - - 98 None 0.99 1 Mil Team Managed - - 800 341-7400 41 41 0 0 7 0 0 0 8 0 - - 0 96 None 1.43 1500 Team Managed - - 800 341-7400 24 15 17 15 0 0 0 ▲ 17 0 6 - 0 - 92 None 0.54 1 Mil Ian L. Miller 7/12 - 800 341-7400 41 ▲ 43 0 0 10 0 0 0 0 0 1 0 - 99 None 0.20 0 Team Managed - - 800 544-6666 98 0 0 0 0 0 0 0 0 0 2 - - 100 None 0.77 2500 Sonu Kalra 7/09 4.1 800 544-6666 92 0 0 0 0 0 0 0 0 0 13 - - 89 None 0.83 2500 Fergus Shiel 10/05 0.6 800 544-6666 95 0 0 0 3 0 0 0 0 0 7 0 0 94 None 0.74 2500 Will Danoff 9/90 4.1 800 544-6666 35 31 0 7 9 0 0 9 7 0 2 0 1 99 None 0.68 2500 Lawrence Rakers 9/08 1.2 800 544-6666 11 56 0 0 9 0 0 0 14 5 5 0 5 90 None 0.67 2500 Adam Kramer 10/11 - 800 544-6666 20 ▲ 48 0 0 11 0 0 15 0 0 2 - 0 98 None 0.66 2500 Scott Offen 10/11 - 800 544-6666 45 38 7 0 3 3 0 0 0 0 10 0 0 91 None 0.81 2500 Heather Carrillo 2/10 0.7 800 544-6666 77 0 14 0 0 0 0 0 0 0 7 - - 99 None 0.92 2500 Stephen DuFour 3/11 5.1 800 544-6666 76 0 15 0 0 0 0 0 0 0 1 - - 99 None 0.93 2500 Stephen DuFour 3/07 3.5 800 544-6666 71 22 0 0 3 0 0 0 0 0 2 - - 98 None 0.57 2500 John Avery 2/02 -0.8 800 544-6666 19 63 0 0 15 0 0 0 0 0 0 - 1 99 None 0.69 2500 Matthew Fruhan 2/11 6.8 800 544-6666 96 0 0 0 0 0 0 0 0 0 3 - 0 100 None 0.81 Closed Steven Wymer 1/97 1.8 800 544-6666

▼ 71 0 11 0 0 0 0 ▲ 13 0 0 4 - 0 99 None 0.92 2500 Jason Weiner 2/07 1.7 800 544-6666 68 0 27 0 0 0 0 0 0 0 3 - - 99 None 0.71 2500 Steven Calhoun 6/05 -0.6 800 544-6666 57 0 13 0 0 0 0 25 0 0 5 - 1 99 None 0.61 2500 Robert Bertelson 11/06 3.5 800 544-6666 14 72 4 0 7 0 0 0 0 0 0 0 - 100 None 0.86 2500 Matthew Fruhan 5/05 1.0 800 544-6666 18 ▼ 35 ▼ 13 ▲ 12 0 0 1 ▲ 16 0 0 15 1 1 85 None 0.83 10000 Thomas Sorviero 7/03 1.4 800 544-6666 0 31 19 0 24 0 0 20 0 0 11 0 0 91 None 0.77 2500 Team Managed - - 800 544-6666 64 34 0 0 0 0 0 0 0 0 1 - 0 99 None 0.47 2500 Jeffrey Feingold 9/11 - 800 544-6666 32 29 24 0 0 0 0 0 12 0 5 0 0 98 None 0.87 2500 John D. Roth 7/06 3.0 800 544-6666 67 0 19 0 0 0 0 0 0 0 9 - - 100 None 0.74 2500 Gavin Baker 7/09 -1.4 800 544-6666 34 0 ▼ 23 ▲ 14 10 0 0 0 0 0 6 - - 98 None 0.86 2500 Kyle Weaver 2/09 10.3 800 544-6666 18 0 43 23 0 5 0 0 0 8 6 - - 95 None 0.73 2500 John Roth 2/11 -9.8 800 544-6666 42 37 0 6 3 0 0 ▼ 0 ▲ 11 0 11 0 0 99 None 0.10 2500 Team Managed - - 800 544-6666 45 28 8 0 4 0 0 0 13 0 0 - - 8 None 0.73 2500 Team Managed - - 800 544-6666 27 32 0 11 0 0 0 19 0 0 5 - 0 96 None 1.35 Closed Harold J. Levy 4/87 1.6 800 334-2143 32 41 0 8 13 0 0 0 0 0 - 7 1 91 5.75 1.33 1000 Sean Reidy 11/11 - 800 423-4026 36 37 12 7 6 0 0 0 0 0 1 1 1 97 5.75 1.29 1000 Edwin D. Miska 1/02 0.0 800 423-4026 0 67 0 28 0 0 1 0 0 0 5 - - 95 5.75 1.02 1000 Team Managed - - 800 632-2301 87 0 11 0 0 0 0 0 0 0 3 - 0 97 5.75 0.98 1000 Conrad B. Herrmann 7/93 2.2 800 632-2301 61 21 7 0 8 0 0 0 0 0 14 - - 86 None 1.66 1000 Team Managed - - 800 632-2301 43 ▲ 39 ▼ 0 0 9 0 0 0 0 0 8 - - 92 5.75 0.93 1000 Team Managed - - 800 632-2301 65 0 32 0 0 0 0 0 0 0 5 - 1 95 5.75 0.98 1000 Team Managed - - 800 632-2301 29 27 13 9 6 0 0 ▲ 15 ▼ 0 0 0 - - - None 1.26 1000 Team Managed - - 866 735-7464 78 0 0 0 9 0 0 ▲ 11 0 0 - 0 - 100 None 1.49 1000 Howard F. Ward 1/95 0.0 800 422-3554 67 28 0 0 0 0 0 0 0 0 3 - - 97 None 0.19 500 David B. Carlson 12/61 0.3 800 242-0134 28 14 8 9 10 4 0 0 24 0 - 1 - 99 None 1.38 1000 Team Managed - - 800 422-3554 21 30 7 0 15 0 0 0 24 0 - 1 0 99 None 1.75 1000 Mario J. Gabelli 1/92 2.4 800 422-3554 26 0 24 28 5 4 0 0 11 0 - 10 0 89 None 1.88 1000 Mario J. Gabelli 10/91 3.5 800 422-3554 26 33 0 0 6 0 0 ▼ 0 ▲ 19 0 4 - - 97 5.75 0.94 2500 Team Managed - - 800 354-6339 57 20 4 0 0 0 0 14 0 0 - - 2 97 None 0.89 0 Paul T. Sullivan 3/04 1.2 800 442-8299 76 0 19 0 0 0 0 0 0 0 3 - - 98 5.50 1.35 1000 Team Managed - - 800 526-7384 29 38 0 10 0 3 0 ▲ 15 0 ▼ 0 - - 1 97 5.50 1.15 1000 Andrew Braun 1/01 1.8 800 526-7384 0 45 24 23 0 0 4 0 0 0 - - 1 99 4.75 1.39 100 James Schier 5/97 4.0 800 888-2461 17 0 57 17 0 0 1 0 0 0 5 - - 95 None 1.20 2500 Team Managed - - 800 422-1050 32 44 8 6 0 0 0 0 ▼ 0 7 1 0 0 97 None 1.87 2000 Saul J. Pannell 7/96 4.0 888 843-7824 16 69 0 0 11 0 0 0 0 0 2 - - 98 5.50 1.08 2000 Team Managed - - 888 843-7824 15 ▲ 58 0 0 15 0 0 ▼ 0 0 7 2 - - 98 5.50 1.07 2000 Team Managed - - 888 843-7824

▼ 85 0 0 0 0 0 0 ▲ 12 0 0 3 - - 97 5.50 1.25 2000 Andrew Shilling 4/01 -1.5 888 843-7824 52 17 26 0 0 0 0 0 0 0 0 - - 99 5.50 1.23 2000 Mark A. Whitaker 3/10 -2.5 888 843-7824 7 74 0 0 6 0 0 ▲ 10 0 0 2 - - 97 5.50 1.15 2000 Team Managed - - 888 843-7824 0 62 8 18 0 4 4 0 0 0 0 - - 99 None 1.21 1000 Team Managed - - 800 432-7856 45 0 0 0 21 0 0 0 0 0 66 - - 73 None 0.08 2500 Brian Peery 7/98 -0.9 800 966-4354






1 6 S E P T E M B E R 2 0 1 3


GENERAL EQUITY

HighMark Value Fund Fid (HMVMX) GI/LB 17.73 2 3 3 16.1 0.5 9.1 21.6 17.7 6.0 7.1 147.7 -53.6 0.9Highmark Geneva Growth A (PNMAX) Y GR/MG 27.54 3 3 2 15.4 4.1 7.5 16.3 18.7 9.0 9.0 163.3 -49.1 0.0Homestead Value Fund (HOVLX) GI/VL 40.17 2 3 3 18.9 -0.7 8.6 23.9 17.9 6.8 8.1 157.9 -52.4 1.8Huntington Mid Corp America Tr (HMATX) GR/MB 16.37 1 3 1 19.5 3.2 11.6 23.8 18.5 7.7 8.6 155.3 -47.5 0.1ING Corporate Leaders Trust Fd B (LEXCX) GI/LB 28.52 1 2 2 15.6 -0.1 6.0 18.8 20.5 8.3 10.5 158.9 -45.1 1.6ING JPMorgan Part Mid Cap Value I (IJMIX) GR/MG 19.07 1 2 1 17.5 1.4 9.3 23.3 20.8 10.2 10.0 183.4 -47.6 0.8ING LargeCap Growth Fund S (IEOSX) AG/LG 16.39 2 3 1 13.8 1.0 8.0 14.1 19.3 10.8 — 153.2 -38.2 0.4ING MFS Total Return S (IMSRX) IN/LB 17.22 3 1 4 9.1 -0.3 4.3 12.0 10.8 5.7 5.9 85.4 -33.3 2.1ING MidCap Opportunities A (NMCAX) Y GR/MG 23.45 ▲ 1 3 1 17.0 2.4 9.5 18.9 18.8 10.3 10.2 182.0 -45.5 0.0ING T. Rowe Price Cap Apprec S (ITCSX) GI/VL 26.30 2 2 2 12.5 1.8 7.2 16.3 15.1 8.1 — 129.2 -37.1 1.4Intrepid Small Cap Fund (ICMAX) SC/GW 15.55 3 2 3 5.2 1.0 2.9 9.4 11.0 12.5 — 124.5 -16.6 0.0Invesco Charter Fund A (CHTRX) Y GR/LB 20.78 2 2 3 15.7 1.3 8.5 19.3 15.1 6.5 7.5 119.0 -41.1 0.8Invesco Comstock C (ACSYX) GI/LV 21.15 ▼ 2 3 ▼ 3 19.1 0.9 11.4 26.1 17.8 7.9 6.8 165.4 -53.6 0.6Invesco Constellation Fund A (CSTGX) Y GR/LG 28.11 4 3 4 17.3 5.2 13.1 18.8 14.5 2.8 3.5 92.9 -52.9 0.0Invesco Disciplined Equity Fd (AWEIX) GR/LB 13.35 2 ▲ 2 ▼ 3 17.3 2.0 11.4 19.2 19.4 8.3 — 152.0 -45.6 0.9Invesco Equity & Income A (ACEIX) Y IN/LV 10.43 2 2 3 14.5 0.6 7.8 17.8 13.7 7.9 7.4 107.6 -36.2 1.9Invesco Growth and Income A (ACGIX) Y GI/LB 24.92 2 3 3 19.7 1.3 10.5 23.6 17.3 7.5 7.8 141.6 -47.9 1.3Invesco Mid Cap Core Equity A (GTAGX) Y GR/MB 24.90 3 3 4 16.5 1.5 8.8 22.0 12.5 5.2 7.4 106.8 -38.3 0.4Invesco Mid Cap Growth A (VGRAX) Y GR/MG 33.61 3 4 ▼ 3 20.0 3.9 12.4 24.0 15.6 8.8 10.0 177.9 -57.1 0.0Invesco Summit P (SMMIX) GR/GW 15.09 3 3 3 16.3 3.1 10.3 17.5 16.3 4.3 6.8 103.8 -45.7 0.3Ivy Core Equity C (WTRCX) GI/LB 11.59 2 3 2 14.1 1.4 8.5 16.8 18.3 7.0 7.4 138.5 -47.5 0.0Ivy Dividend Opps A (IVDAX) Y GI/LG 17.78 3 3 3 13.2 -0.2 6.5 14.6 14.7 3.9 7.2 105.1 -46.8 1.1Ivy Large Cap Growth A (WLGAX) Y GR/LG 16.47 3 3 3 12.9 0.2 7.7 13.8 16.2 4.9 6.9 108.4 -46.9 0.2Ivy Mid Cap Growth Y (WMGYX) GR/MG 22.20 2 3 1 16.4 4.6 9.1 22.6 19.0 12.6 10.7 196.4 -47.9 0.0J Hancock Classic Value A (PZFVX) Y GR/LV 21.42 3 4 3 22.6 -0.6 12.1 29.7 17.0 6.5 4.8 187.9 -64.8 0.8J Hancock Large Cap Equity A (TAGRX) Y GR/LG 32.37 3 3 3 15.0 0.8 8.9 19.9 14.7 4.3 9.9 125.1 -45.4 0.8JPMorgan Investor Growth Fund B (OGIGX) Y GR/LB 16.17 3 3 3 12.1 -0.1 6.8 15.7 13.6 5.6 6.5 115.3 -45.8 0.5JPMorgan Large Cap Growth A (OLGAX) Y GR/LG 27.14 3 3 2 13.2 1.6 9.2 12.6 18.3 7.9 7.4 146.6 -47.7 0.3JPMorgan Large Cap Value Fund A (OLVAX) Y GR/LV 14.24 ▼ 3 3 3 19.3 0.1 10.9 25.9 16.7 7.0 6.5 152.0 -54.1 1.0JPMorgan Mid Cap Growth Fund A (OSGIX) Y GR/MG 24.37 2 4 2 22.3 4.1 13.9 26.5 19.8 8.1 8.6 169.1 -52.6 0.0JPMorgan Mid Cap Value Fund A (JAMCX) Y GR/MB 32.28 1 2 1 17.2 1.3 9.0 22.9 20.5 10.0 9.8 180.6 -48.0 0.8JPMorgan US Equity Fund A (JUEAX) Y GR/LB 13.12 2 3 2 17.5 1.0 10.4 20.8 17.9 8.2 8.0 151.5 -48.2 0.9JPMorgan Value Advantage Fund A (JVAAX) Y GI/LV 24.84 1 2 1 16.9 0.7 9.4 22.1 19.0 9.9 — 193.5 -50.6 0.8Janus Aspen Janus Fund Inst (JAGRX) GR/LG 29.76 3 3 3 13.2 2.1 8.7 15.8 14.7 5.8 6.1 124.0 -48.3 0.8Janus Contrarian D (JACNX) GR/LV 17.71 3 3 3 17.1 1.2 10.0 30.7 11.7 3.0 8.9 136.6 -59.2 0.8Janus Enterprise S (JGRTX) AG/MG 75.33 1 3 1 15.3 2.6 8.3 22.6 18.8 8.3 10.8 177.7 -50.0 0.0Janus Forty S (JARTX) GR/LG 42.99 ▲ 3 3 3 13.3 2.7 10.9 15.5 15.8 3.8 9.2 119.3 -50.1 0.2Janus Fund D (JANDX) GR/LB 35.97 3 3 3 12.9 2.0 8.4 15.3 14.3 5.4 5.8 120.2 -48.6 0.7Janus Growth & Income D (JNGIX) GI/LG 39.61 3 3 3 16.5 0.5 9.4 19.3 16.4 6.5 6.5 132.2 -52.2 1.5Janus Research Fund D (JNRFX) AG/LG 37.64 ▼ 2 3 1 15.6 1.9 9.4 20.1 17.4 7.4 8.2 167.9 -53.5 0.6Janus Twenty D (JNTFX) GR/LG 70.49 ▲ 3 3 3 13.6 3.5 11.3 15.1 15.6 4.1 9.9 115.3 -47.0 0.7Jensen Portfolio J (JENSX) GI/LB 33.94 2 2 3 14.6 0.1 6.5 18.8 15.1 6.9 6.4 127.0 -41.2 1.0Keeley Small Cap Value A (KSCVX) Y SC/SV 33.57 2 4 ▲ 2 17.4 0.8 8.2 29.5 20.9 3.2 11.1 186.1 -57.9 0.2Legg Mason Capital Mgmt Value Tr C (LMVTX) GR/LV 51.48 3 3 3 20.7 2.5 13.3 26.9 16.5 4.6 1.6 156.8 -67.5 0.5Longleaf Partners Fund (LLPFX) GR/VL 30.35 3 4 2 15.0 1.2 6.3 21.5 16.1 5.8 5.9 162.8 -59.9 0.7Longleaf Partners Small-Cap Fund (LLSCX) SC/SV 34.23 1 3 1 18.5 0.3 10.2 27.1 21.9 12.4 10.9 224.8 -57.7 0.1Loomis Sayles Growth Fund A (LGRRX) Y GR/LG 7.67 2 3 ▲ 2 15.5 1.9 7.0 22.2 19.1 5.5 5.5 135.1 -55.0 0.7Lord Abbett Affiliated Fund A (LAFFX) Y GI/LB 14.04 3 3 3 17.7 0.9 9.8 23.2 15.5 5.1 5.4 134.9 -55.0 1.4Lord Abbett Alpha Strategy A (ALFAX) Y SC/SB 29.72 2 4 2 22.5 4.6 14.2 27.9 18.7 9.0 11.4 175.6 -52.8 0.1Lord Abbett Calibr Div Growth A (LAMAX) Y IN/LB 14.12 2 2 3 13.6 0.6 6.3 16.6 14.0 8.1 7.8 106.6 -37.3 2.3Lord Abbett Classic Stock C (LLRCX) GI/LB 33.04 4 3 4 13.0 -0.8 7.3 15.0 13.2 4.5 5.7 105.3 -44.5 0.5Lord Abbett Fundmntl Eq A (LDFVX) Y GI/LB 15.79 3 3 3 20.0 1.3 10.3 24.7 16.5 7.7 8.6 133.2 -41.2 0.5Lord Abbett Growth Opportunities A (LMGAX) Y GR/MG 23.31 3 5 2 19.7 3.3 11.1 20.7 17.4 8.5 8.1 149.5 -46.1 0.0Lord Abbett Mid Cap Stock A (LAVLX) Y GR/MV 20.84 2 4 2 16.2 0.6 7.4 23.7 17.4 7.3 7.5 158.4 -54.1 0.5Lord Abbett Small Cap Value A (LRSCX) Y SC/SV 37.30 3 4 2 15.9 0.5 7.2 21.8 16.6 6.8 11.5 154.8 -46.7 0.6MFS Core Equity A (MRGAX) Y GI/GW 23.82 1 3 1 17.9 1.9 9.8 21.6 18.4 8.0 7.1 155.5 -53.4 0.4MFS Growth Fund A (MFEGX) Y AG/GW 56.68 ▲ 1 3 2 16.2 3.0 9.5 19.3 19.3 8.1 8.6 145.2 -46.4 0.0MFS Mass Investors Gr Stk A (MIGFX) Y GR/LG 20.27 1 3 2 13.7 0.8 6.7 17.3 19.3 8.3 6.9 147.2 -45.3 0.7MFS Mass Investors Trust A (MITTX) Y GI/LB 24.68 2 3 3 15.1 0.8 7.3 19.6 17.3 7.0 7.7 134.3 -44.9 0.8MFS Value Fund A (MEIAX) Y GI/LV 29.81 2 3 3 18.5 0.8 10.0 22.7 17.5 6.6 8.4 137.9 -47.9 1.5







S E P T E M B E R 2 0 1 3 1 7

GENERAL EQUITY

▼ 0 68 0 0 26 4 0 0 0 0 - - - 99 None 0.99 100000 Keith Stribling 12/98 0.0 800 433-6884 60 0 33 0 0 0 0 0 0 0 - - - 97 5.50 1.38 1000 Team Managed - - 800 433-6884 19 72 0 0 0 0 0 0 0 0 2 - - 98 None 0.68 500 Mark Ashton 11/90 -1.7 800 258-3030

▼ 29 25 19 9 0 0 0 ▲ 15 0 0 6 - - 99 None 1.38 1000 Christopher M. Rowane 3/01 -0.8 800 253-0412▼ 22 42 0 0 0 0 0 0 ▲ 24 0 - - - 99 None 0.51 1000 Team Managed - - 800 992-0180

32 40 23 0 0 0 0 0 0 0 3 - - 97 None 0.87 0 Team Managed - - 800 992-0180▼ 76 0 0 0 5 0 0 ▲ 14 0 0 3 - 1 97 None 0.92 0 Team Managed - - 800 992-0180

16 35 0 0 8 0 0 ▼ 0 ▲ 11 26 4 38 0 60 None 0.96 0 Team Managed - - 800 992-0180 62 16 19 0 0 0 0 0 0 0 3 - 2 96 5.75 1.33 1000 Team Managed - - 800 992-0180 42 39 0 0 14 0 0 0 0 0 14 24 1 61 None 0.89 0 David Giroux 7/07 2.9 800 992-0180 0 24 ▼ 0 ▲ 47 9 0 6 0 0 0 - - - 46 None 1.40 2500 Team Managed - - 866 996-3863 37 42 0 0 18 0 0 0 0 0 15 - - 86 5.50 1.07 1000 Team Managed - - 800 959-4246 0 83 0 0 3 0 0 0 12 0 5 - - 95 None 1.61 1000 Team Managed - - 800 959-4246 90 0 0 0 4 0 0 0 0 0 2 - - 99 5.50 1.37 1000 Erik J. Voss 3/11 -0.8 800 959-4246 23 58 0 0 13 0 0 0 0 0 2 - - 98 None 0.80 1000 Paul McPheeters 1/09 3.5 800 959-4246 20 51 0 0 0 0 0 0 18 6 2 30 2 66 5.50 0.78 1000 Team Managed - - 800 959-4246

▼ 18 ▲ 72 0 0 5 0 0 0 0 0 4 - - 96 5.50 0.84 1000 Team Managed - - 800 959-4246 29 46 16 0 0 4 0 0 0 0 12 - - 88 5.50 1.17 1000 Team Managed - - 800 959-4246 52 0 24 0 0 0 0 13 0 7 4 - - 99 5.50 1.29 1000 James Leach 12/95 1.9 800 959-4246 80 0 11 0 6 0 0 0 0 0 3 - - 96 None 0.92 0 Ryan Amerman 2/08 -0.3 800 959-4246 62 34 0 0 0 0 0 0 0 0 4 - - 95 None 2.03 500 Erik R. Becker 2/06 1.8 800 777-6472 29 55 0 0 11 0 0 0 0 0 5 - - 94 5.75 1.27 500 David P. Ginther 7/03 -0.5 800 777-6472 95 0 0 0 0 0 0 0 0 0 3 - - 98 5.75 1.15 500 Daniel P. Becker 6/00 1.5 800 777-6472

▲ 50 13 30 0 0 0 0 0 0 0 3 - - 96 None 1.27 0 Team Managed - - 800 777-6472 0 90 0 0 4 0 0 0 0 0 4 - 3 95 5.00 1.31 2500 Team Managed - - 800 225-5291 29 60 0 0 6 0 0 0 0 0 1 - - 99 5.00 1.14 2500 Emory W. Sanders Jr. 12/11 - 800 225-5291 36 30 6 0 3 3 0 8 14 0 1 - - - 5.00R 1.04 Closed Team Managed - - 800 480-4111 94 0 0 0 0 0 0 0 0 0 2 - - 98 5.25 1.09 1000 Giri Devulapally 8/04 0.2 800 480-4111 11 86 0 0 0 0 0 ▼ 0 0 0 1 - - 100 5.25 0.94 1000 Aryeh Glatter 3/11 1.2 800 480-4111 60 0 20 0 0 0 0 17 0 0 2 - - 98 5.25 1.23 1000 Christopher Jones 1/04 -0.1 800 480-4111 28 36 22 0 0 0 0 0 ▲ 10 0 2 - - 97 5.25 1.23 1000 Team Managed - - 800 480-4111 49 37 0 0 0 0 0 ▼ 0 ▲ 12 0 2 - - 99 5.25 0.97 1000 Team Managed - - 800 480-4111 19 67 5 0 0 0 0 0 0 7 5 - - 94 5.25 1.24 1000 Team Managed - - 800 480-4111 92 0 0 0 4 0 0 0 0 0 1 - - 98 None 0.52 0 Jonathan D. Coleman 11/07 0.1 877 335-2687 21 ▲ 38 ▼ 0 0 0 0 0 24 0 0 1 - - 99 None 0.66 Closed Daniel Kozlowski 7/11 1.7 877 335-2687 62 ▲ 10 23 0 0 0 0 0 0 0 5 - - 95 None 1.19 Closed Brian Demain 11/07 2.1 877 335-2687 83 0 0 0 5 0 0 0 0 0 2 - - 98 None 0.85 2500 Ron Sachs 1/08 -1.1 877 335-2687 92 0 0 0 5 0 0 0 0 0 3 - - 97 None 0.69 Closed Jonathan D. Coleman 11/07 0.8 877 335-2687 28 26 0 0 9 0 0 19 ▲ 10 0 1 4 - 95 None 0.80 Closed Marc Pinto 11/07 -0.6 877 335-2687 80 13 4 0 0 0 0 0 0 0 1 - - 99 None 0.86 Closed James P. Goff 2/06 1.8 877 335-2687 85 0 0 0 6 0 0 0 0 0 2 - - 98 None 0.67 Closed Ron Sachs 1/08 -0.6 877 335-2687 81 0 0 0 7 0 0 0 0 0 1 - - 99 None 0.90 2500 Team Managed - - 800 992-4144 16 9 14 39 0 0 0 17 0 0 2 - - 100 4.50 1.38 2500 John Keeley Jr. 10/93 0.6 800 533-5344 43 53 0 0 0 0 0 0 0 0 2 - - 99 None 1.82 1000 Mary Chris Gay 3/06 -5.2 800 822-5544 0 ▲ 67 0 0 13 6 1 0 ▼ 0 0 11 1 1 87 None 0.92 10000 O. Mason Hawkins 4/87 -0.2 800 445-9469 0 27 0 25 0 0 0 0 26 0 40 1 - 58 None 0.91 Closed O. Mason Hawkins 12/89 -0.2 800 445-9469 67 0 0 8 9 0 0 0 0 8 4 - - 98 5.75 1.07 2500 Aziz V. Hamzaogullari 5/10 3.2 800 633-3330 11 81 0 0 4 0 0 0 0 0 1 - - 98 5.75 0.85 1000 Daniel H. Frascarelli 1/09 -4.0 800 821-5129 36 0 32 29 0 0 0 0 0 0 0 - - - 5.75 0.12 1500 Robert I. Gerber 1/05 2.6 800 821-5129

▼ 32 ▲ 34 0 0 5 0 0 ▼ 0 ▲ 20 0 0 - - 100 5.75 0.84 1000 Frederick J. Ruvkun 9/12 - 800 821-5129 28 52 0 0 5 0 0 0 ▲ 10 0 2 - - 98 None 1.62 1000 Daniel H. Frascarelli 7/05 -0.5 800 821-5129 42 38 16 0 0 0 0 0 0 0 0 - - 101 5.75 0.53 1500 Robert P. Fetch 12/01 2.0 800 821-5129 71 0 25 0 0 0 0 0 0 0 - - - 100 5.75 1.40 1000 Paul J. Volovich 7/08 1.3 800 821-5129 13 59 8 16 0 0 0 0 0 0 1 - - 99 5.75 1.10 1000 Jeff Diamond 6/08 -1.0 800 821-5129 0 25 24 47 0 0 0 0 0 0 1 - - 99 5.75 1.22 1000 Gerard Heffernan Jr. 1/09 -2.9 800 821-5129 41 42 0 4 0 0 0 0 11 0 2 - 1 98 5.75 1.12 1000 Joseph G. MacDougall 5/08 3.2 800 225-2606 98 0 0 0 0 0 0 0 0 0 2 - - 98 5.75 1.06 1000 Eric B. Fischman 4/02 0.8 800 225-2606 63 14 0 0 18 0 0 0 0 0 1 - - 99 5.75 0.76 1000 Jeffrey C. Constantino 11/06 1.8 800 225-2606 46 36 0 0 14 0 0 0 0 0 1 - 1 98 5.75 0.73 1000 T. Kevin Beatty 7/04 1.4 800 225-2606 25 55 0 0 14 0 0 0 0 0 1 - 1 98 5.75 0.92 1000 Steven R. Gorham 1/02 1.0 800 225-2606






1 8 S E P T E M B E R 2 0 1 3


GENERAL EQUITY

Madison Investors Fund (MINVX) GR/LG 21.07 2 2 3 13.5 -0.7 5.8 17.3 15.6 6.3 5.6 136.9 -46.8 0.6Madison Mid-Cap Fund (GTSGX) GR/MG 8.99 2 3 1 12.0 1.1 5.4 13.0 17.4 9.6 8.5 164.4 -47.6 0.0MainStay ICAP Select Equity A (ICSRX) Y GR/LV 44.39 2 3 3 16.1 2.4 9.0 21.6 16.3 7.3 — 144.2 -51.4 1.1MainStay MAP Fund A (MAPAX) Y GR/LV 40.30 2 3 3 16.1 1.4 8.9 21.2 16.4 6.6 7.8 145.9 -51.3 0.9Mairs & Power Growth Fund (MPGFX) GR/LB 98.30 1 3 2 17.8 1.6 8.8 24.6 20.3 9.4 8.8 171.0 -44.9 1.2Managers Micro-Cap Service (MMCFX) SC/SG 46.32 2 5 2 32.1 8.8 22.0 38.1 24.8 10.8 8.4 200.7 -53.3 0.1Marsico 21ST Century Fund (MXXIX) GR/LG 16.99 ▲ 3 ▲ 3 ▲ 3 21.4 3.3 14.3 21.8 14.6 3.4 7.8 123.8 -58.5 0.0Marsico Focus Fund (MFOCX) GR/LG 20.33 3 3 2 17.4 -1.4 10.5 18.2 17.5 6.0 6.6 133.1 -51.7 0.1Marsico Growth Fund (MGRIX) GR/LG 23.72 3 3 2 16.6 0.0 10.2 17.4 18.0 6.1 6.4 141.0 -54.5 0.2MassMutual Sel Growth Opp A (MMAAX) Y AG/LG 9.56 2 3 1 15.7 4.3 10.1 17.9 21.9 11.0 8.4 192.5 -53.1 0.0MassMutual Sel Mid Cap Gr Eq II S (MGRFX) GR/MG 17.88 1 3 1 19.9 3.7 11.5 24.3 19.7 10.0 10.3 184.5 -49.5 0.0Merger Fund (MERFX) GR/MG 16.04 4 1 5 1.3 0.7 1.8 2.0 2.5 3.0 3.6 19.3 -6.2 1.5Meridian Growth Fund (MERDX) SC/SG 45.12 ▼ 2 3 1 13.4 1.7 6.1 19.7 19.2 11.5 9.9 171.1 -42.0 2.1Meridian Value Fund (MVALX) GR/SV 38.66 2 3 3 17.7 3.5 10.3 24.2 19.0 6.6 8.4 137.0 -44.1 0.3MorgStan Multi-Cap Growth Tr A (CPOAX) Y GR/LG 29.40 3 4 2 22.1 9.0 16.9 27.9 17.9 9.6 11.2 182.4 -53.8 0.0Muhlenkamp Fund (MUHLX) GR/LV 62.73 3 3 4 20.1 0.7 10.7 24.3 14.1 5.2 4.7 122.3 -54.1 0.5Munder MidCap Core Growth A (MGOAX) Y SC/MB 37.62 1 3 1 17.8 1.4 8.8 21.7 18.7 7.8 9.9 164.7 -53.5 0.0Mutual Beacon A (TEBIX) Y GI/VL 15.44 ▲ 2 2 3 16.3 1.5 9.8 21.1 14.7 5.3 6.8 119.0 -50.9 1.2Mutual Quest Fund A (TEQIX) Y GI/VL 18.74 3 2 4 14.2 1.0 9.3 17.3 12.3 6.3 8.5 77.7 -31.8 1.8Mutual Shares A (TESIX) Y GI/VL 25.81 ▲ 2 2 3 15.7 1.5 9.1 19.3 14.2 5.7 6.4 118.7 -50.5 1.5Needham Growth Fund (NEEGX) GR/MG 40.61 3 5 3 20.6 2.4 13.3 13.8 15.0 7.5 7.5 150.3 -48.9 0.0Neuberger Berman Focus Inv (NBSSX) GR/LB 26.90 2 3 3 19.3 3.3 9.8 24.7 19.4 5.6 5.3 136.8 -51.1 0.5Neuberger Berman Genesis Inv (NBGNX) SC/SV 40.18 1 3 2 18.1 4.1 10.0 23.9 19.5 6.6 10.8 150.4 -43.7 0.4Neuberger Berman Guardian Inv (NGUAX) GI/LV 18.58 2 3 2 20.1 2.5 8.3 22.6 17.8 6.4 8.0 141.4 -47.4 1.0Neuberger Berman Mid Cap Gr Inv (NMANX) GR/MG 13.35 2 3 2 16.3 3.7 9.3 18.1 18.9 8.3 9.8 151.1 -50.8 2.6Neuberger Berman Social Resp Tr (NBSTX) GR/LV 22.20 2 3 3 20.3 2.2 8.5 24.0 17.0 6.5 7.7 142.2 -48.0 0.7Nicholas Fund (NICSX) GR/LB 57.21 1 3 1 20.2 2.4 11.0 33.5 24.6 13.3 8.4 198.6 -48.8 3.2Nicholas II Fund N (NNTWX) SC/SB 24.74 ▲ 1 3 2 16.3 3.4 9.1 20.7 17.8 8.4 — 133.5 -41.0 0.2Northern Income Equity (NOIEX) IN/LV 14.80 ▼ 2 2 2 13.6 -0.5 6.2 16.0 14.3 8.1 8.1 131.9 -41.7 1.7Northern Mid Cap Index (NOMIX) GR/XM 15.44 1 3 1 17.0 0.3 8.1 23.5 19.4 9.1 — 189.5 -49.8 1.0Nuveen Mid Cap Val I (FSEIX) GR/MV 28.49 3 3 3 19.7 1.9 10.0 23.8 14.3 6.0 8.6 135.0 -49.1 1.0Oakmark Fund I (OAKMX) GR/VL 57.72 1 3 1 18.9 1.7 11.7 25.0 20.3 11.2 8.2 200.5 -49.4 0.6Old Westbury Global Small&MidCap Fd (OWSMX) SC/GW 15.91 3 3 3 10.0 0.2 4.0 18.7 13.9 9.5 — 115.0 -40.3 0.9Oppenheimer Capital Appr A (OPTFX) Y GR/LG 54.14 3 3 3 11.9 0.6 6.2 12.6 15.2 3.7 4.7 120.5 -53.5 0.5Oppenheimer Capital Income Fd A (OPPEX) Y IN/LV 9.29 3 1 3 3.3 -1.2 1.0 5.3 8.7 1.3 3.5 80.4 -46.6 3.6Oppenheimer Equity Income A (OAEIX) Y GR/LV 29.84 2 3 ▼ 2 18.2 0.1 11.5 24.0 16.2 10.5 8.9 171.4 -47.9 2.4Oppenheimer Main St Select A (OMSOX) Y GR/LB 16.01 3 2 3 12.4 -0.6 7.6 14.5 14.9 6.3 6.9 147.8 -53.7 0.5Oppenheimer Main St Small&Mid Cap A (OPMSX) Y SC/SB 27.17 ▲ 1 4 1 18.2 3.0 9.9 22.9 19.4 8.2 8.9 198.0 -56.2 0.6Oppenheimer Rising Divs Fund C (OCRDX) GI/LV 17.53 3 3 3 12.0 -0.4 5.2 14.2 14.7 4.6 6.8 105.2 -43.9 0.6Optimum Large Cap Growth I (OILGX) GR/LG 15.77 ▲ 2 3 2 14.8 1.0 8.9 16.1 17.9 7.0 6.6 141.3 -52.1 0.3PNC Large Cap Growth I (PEWIX) GR/LG 20.50 3 3 3 12.5 0.4 6.9 12.4 17.4 4.4 4.2 121.2 -52.2 0.7PRIMECAP Odyssey Stock Fund (POSKX) GR/LG 19.10 1 2 2 19.5 1.7 11.2 24.1 18.3 8.5 — 149.6 -45.4 1.2Paradigm Value Fund (PVFAX) SC/SV 62.03 3 3 3 9.8 -0.3 5.6 11.9 14.7 5.8 — 143.0 -47.6 0.4Perkins Mid Cap Value S (JMVIX) GR/MV 24.21 3 3 3 13.8 0.3 6.7 17.1 13.1 6.0 8.7 120.0 -40.3 0.5Pioneer Disciplined Value Fund A (CVFCX) Y GR/VL 19.80 3 3 4 15.1 -0.9 8.3 17.2 12.6 4.2 — 106.5 -46.7 3.7Pioneer Fund A (PIODX) Y GI/LB 37.75 3 3 3 16.9 1.0 9.4 18.9 14.8 4.6 6.3 121.7 -48.8 0.9Pioneer Fundamental Growth A (PIGFX) Y GR/LG 15.09 ▲ 2 2 3 14.7 1.0 7.8 14.2 18.7 7.6 — 119.2 -31.7 0.3Principal Capital Appreciation A (CMNWX) Y GR/LB 48.19 2 2 3 15.4 0.1 8.1 19.6 15.8 6.5 7.7 134.0 -47.4 1.0Principal MidCap Blend A (PEMGX) Y GR/MG 18.20 1 2 1 17.3 1.4 8.8 24.2 20.3 10.1 9.4 175.3 -45.2 0.7Prudential Jennison 20/20 Focus A (PTWAX) Y GR/LG 18.15 3 3 3 17.2 4.6 12.2 22.1 16.3 5.9 9.7 131.5 -47.1 0.0Prudential Jennison Blend Z (PEQZX) GR/LB 21.67 2 3 2 17.5 3.5 11.4 22.8 16.4 6.5 8.2 135.7 -49.3 0.6Prudential Jennison Equity Opp A (PJIAX) Y GR/LB 18.87 1 3 1 19.0 4.0 12.3 25.7 18.6 8.3 8.2 162.7 -50.2 0.4Prudential Jennison Growth Z (PJFZX) GR/LG 25.23 3 3 2 15.7 3.8 11.6 17.5 18.6 8.6 7.4 133.3 -44.4 0.0Prudential Jennison Mid-Cap Grth Z (PEGZX) GR/MG 36.92 2 3 1 13.9 2.6 7.4 16.2 18.5 9.3 10.5 156.8 -43.6 0.3Putnam Equity Income A (PEYAX) Y IN/LV 19.82 2 3 3 17.6 1.0 9.6 22.3 18.2 8.3 8.4 142.2 -45.0 1.8Putnam Fund for Gr & Inc A (PGRWX) Y GI/LV 17.63 2 3 3 19.4 1.6 11.5 27.5 17.9 7.8 5.7 158.0 -55.3 1.2Putnam Growth Opportunities A (POGAX) Y GR/LG 21.60 2 3 1 16.2 2.9 10.7 19.3 18.3 9.6 6.3 147.0 -44.3 0.3Quaker Strategic Growth C (QAGCX) AG/LG 17.77 3 3 ▲ 3 19.3 1.3 12.3 22.6 13.8 5.3 8.5 75.7 -33.6 0.0RS Growth A (RSGRX) Y GR/LG 16.43 ▲ 2 3 3 22.1 5.9 14.7 20.8 20.2 6.8 7.4 131.4 -52.7 0.0RS Large Cap Alpha Fund A (GPAFX) Y GI/LV 53.43 3 3 3 21.6 2.5 12.2 27.5 16.3 6.8 7.8 122.1 -41.5 1.4







S E P T E M B E R 2 0 1 3 1 9

GENERAL EQUITY

42 40 0 0 11 0 0 0 0 0 7 3 - 90 None 0.97 25000 Jay Sekelsky 2/90 -0.8 800 336-3063 33 26 0 19 11 0 0 0 0 0 8 - - 92 None 1.20 25000 Richard Eisinger 1/98 1.1 800 336-3063 24 62 0 0 5 0 0 0 0 0 3 - - 97 5.50 1.18 25000 Team Managed - - 800 624-6782 25 47 0 0 14 0 0 0 11 0 - - 0 97 5.50 1.12 25000 Team Managed - - 800 624-6782 41 36 0 12 4 0 0 0 0 0 2 - - 98 None 0.70 2500 William B. Frels 12/99 5.1 800 304-7404 0 0 46 49 0 0 0 0 0 0 9 - - 98 None 1.43 2000 Team Managed - - 800 835-3879 92 0 0 0 0 0 0 0 0 0 2 - - 99 None 1.46 2500 Brandon Geisler 10/11 - 888 860-8686 90 0 0 0 0 0 0 0 0 0 2 - - 98 None 1.37 2500 Team Managed - - 888 860-8686 81 0 0 0 0 0 0 0 12 0 1 - - 99 None 1.37 2500 Team Managed - - 888 860-8686 93 0 0 0 0 0 0 0 0 0 2 - - 98 5.75 1.30 0 Team Managed - - 800 542-6767 56 10 31 0 0 0 0 0 0 0 3 - - 96 None 0.86 0 Team Managed - - 800 542-6767

▲ 23 13 0 ▼ 0 0 0 2 20 0 18 32 3 - 64 None 1.27 2000 Michael T. Shannon 1/07 -0.8 800 343-8959 32 23 39 0 0 0 0 0 0 0 - 2 - 94 None 0.87 1000 Team Managed - - 800 446-6662 17 24 35 11 0 6 1 0 0 0 3 2 - 95 None 1.16 1000 James England 12/01 -0.3 800 446-6662 68 0 ▲ 13 0 0 0 0 0 0 0 1 - - 99 5.25 1.30 1000 Team Managed - - 212 761-4000

▲ 16 ▼ 50 17 0 10 0 0 0 0 0 5 - - 94 None 1.09 1500 Ronald H. Muhlenkamp11/88 -0.2 800 860-3863 33 21 16 7 0 4 0 0 ▲ 14 0 0 - - 98 5.50 1.33 2500 Team Managed - - 800 468-6337

▲ 10 51 0 0 16 0 0 0 16 0 - 15 0 83 5.75 1.11 1000 Christian Correa 1/07 -1.8 800 632-2301 0 49 0 0 22 0 0 0 20 0 - 29 - 70 5.75 1.16 1000 Shawn M. Tumulty 12/03 2.1 800 632-2301 7 51 0 3 14 0 0 ▲ 21 ▼ 0 0 - 17 0 82 5.75 1.10 1000 Team Managed - - 800 632-2301 48 0 0 40 0 0 0 0 0 0 15 - - 85 None 1.94 2000 Chris Retzler 12/09 -3.9 800 625-7071 33 43 0 0 3 0 0 16 0 0 3 - - 97 None 0.95 Closed David Levine 6/08 1.1 877 877-9700 28 0 39 26 0 0 1 0 0 0 3 - - 96 None 1.03 1000 Team Managed - - 877 877-9700 57 30 0 0 7 0 0 0 0 0 1 - - 98 None 0.91 Closed Team Managed - - 877 877-9700 61 0 34 0 0 0 0 0 0 0 3 - - 95 None 0.99 Closed Kenneth J. Turek 1/03 0.8 877 877-9700 53 35 0 0 5 0 0 0 0 0 1 - - 99 None 1.05 0 Team Managed - - 877 877-9700

▼ 55 ▲ 20 19 0 0 0 0 0 0 0 9 - - 91 None 0.74 500 Albert O. Nicholas 4/11 10.7 800 544-6547 56 13 24 0 3 0 0 0 ▼ 0 0 5 - - 95 None 0.99 500 David O. Nicholas 3/05 0.3 800 544-6547 24 32 0 0 7 0 0 ▼ 0 27 5 - - 32 63 None 1.00 2500 Jackie M. Benson 5/09 4.0 800 595-9111 26 13 17 17 0 4 0 ▲ 19 0 ▼ 0 - 0 - 97 None 0.15 2500 Chad M. Rakvin 9/05 0.7 800 595-9111 19 39 21 0 0 0 1 16 0 0 19 - - 96 None 1.07 100000 Brent D. Mellum 10/99 -0.6 800 257-8787 20 74 0 0 4 0 0 0 0 0 6 - 2 91 None 0.96 1000 Kevin G. Grant 3/00 2.5 800 625-6275 23 0 0 16 28 9 0 ▲ 18 0 0 1 1 0 89 None 1.11 1000 Team Managed - - 800 607-2200 93 0 0 4 0 0 0 0 0 0 2 - - 98 5.75 1.11 1000 Julie Van Cleave 4/10 -1.0 800 225-5677 0 24 0 8 3 0 0 0 26 30 17 50 1 31 5.75 0.97 1000 Krishna Memani 4/09 6.1 800 225-5677 0 59 0 5 6 0 0 0 20 6 5 5 7 83 5.75 1.01 1000 Michael S. Levine 7/07 4.4 800 225-5677 32 38 0 10 14 0 0 0 0 0 2 - - 95 5.75 1.21 1000 Anthony W. Gennaro Jr 5/09 1.4 800 225-5677

▲ 41 18 ▲ 35 0 0 0 2 ▼ 0 0 0 3 - - 97 5.75 1.19 1000 Team Managed - - 800 225-5677 38 51 0 0 7 0 0 0 0 0 1 - - 99 None 1.79 1000 Joseph R. Higgins 8/07 0.8 800 225-5677 94 0 0 0 0 0 0 0 0 0 4 - 0 97 None 1.60 0 Team Managed - - 800 523-4640 72 0 8 0 5 0 0 11 0 0 2 - - 98 None 0.98 0 Team Managed - - 800 622-3863 54 26 0 0 12 0 0 0 0 0 5 - - 95 None 0.64 2000 Team Managed - - 800 729-2307 0 22 40 27 0 0 3 0 0 0 2 - - 97 None 1.50 2500 Jason V. Ronovech 8/07 -0.6 800 239-0732 16 55 0 14 4 0 1 0 0 7 9 - - 91 None 1.01 Closed Jeffrey R. Kautz 12/02 0.6 877 335-2687 0 96 0 0 0 0 0 0 0 0 - - - 99 5.75 1.19 1000 Edward T. Shadek Jr 1/12 - 800 225-6292 51 42 0 0 3 0 0 0 0 0 5 - - 100 5.75 0.98 1000 John A. Carey 7/86 -0.2 800 225-6292 84 0 0 0 7 3 0 0 0 0 - - - 98 5.75 1.19 1000 Andrew Acheson 1/07 1.6 800 225-6292 37 ▲ 49 0 6 3 2 0 0 0 0 - - - 98 5.50 0.96 1000 Philip M. Foreman 3/02 0.9 800 986-3343 28 23 11 0 0 3 0 0 19 10 - - - 98 5.50 1.07 1000 K. William Nolin 12/00 2.6 800 986-3343 69 23 0 0 0 0 1 0 0 0 8 - - 98 5.50 1.18 2500 Spiros Sig Segalas 7/98 2.1 800 225-1852 45 24 13 5 2 0 0 0 9 0 11 - - 99 None 0.70 0 Team Managed - - 800 225-1852

▲ 11 56 11 0 6 0 0 0 12 0 16 - - 97 5.50 1.12 2500 Brian M. Gillott 5/00 4.9 800 225-1852 95 0 0 0 0 0 0 0 0 0 7 - - 100 None 0.77 0 Team Managed - - 800 225-1852

▼ 47 0 23 0 7 3 0 ▲ 14 0 0 17 - - 97 None 0.71 0 John P. Mullman 8/05 2.4 800 225-1852 29 63 0 0 5 0 0 0 0 0 9 - 3 93 5.75 1.04 500 Darren A. Jaroch 8/12 - 800 225-1581 0 74 5 0 8 0 0 11 0 0 6 - 0 98 5.75 1.06 500 Robert Ewing 11/08 0.5 800 225-1581 80 0 0 12 5 0 0 0 0 0 8 - - 100 5.75 1.14 500 Robert Brookby 12/09 1.9 800 225-1581 73 0 0 0 0 0 0 18 0 0 23 - - 96 None 2.99 2000 Manu Daftary 8/01 0.5 800 220-8888 94 0 0 0 0 0 0 0 0 0 - - - 98 4.75 1.29 2500 Team Managed - - 800 766-3863 27 64 0 0 0 0 2 0 0 0 - - - 94 4.75 0.93 2500 Team Managed - - 800 766-3863






2 0 S E P T E M B E R 2 0 1 3


GENERAL EQUITY

RS Partners A (RSPFX) Y SC/SV 38.47 ▼ 2 4 2 20.5 2.1 13.9 32.0 19.7 9.0 10.7 186.4 -48.2 0.0RS Small Cap Growth A (RSEGX) Y SC/SG 61.78 ▲ 2 4 1 32.3 11.3 23.9 32.7 24.9 12.9 9.1 206.4 -56.3 0.0Reynolds Blue Chip Growth Fund (RBCGX) GR/LG 67.46 3 4 2 16.8 2.0 10.6 18.1 16.9 16.4 9.2 126.1 -7.7 0.0RidgeWorth Mid-Cap Value Equity I (SMVTX) GR/MG 13.64 2 4 2 16.1 0.6 7.7 27.0 19.1 11.3 11.7 192.5 -47.2 0.7Robeco BP Long/Short Eq Inv (BPLEX) GR/LS 19.85 2 ▲ 1 ▼ 2 3.7 -2.6 0.5 8.4 15.0 16.7 12.1 218.2 -30.2 0.0Royce Low-Priced Stock Svc (RYLPX) SC/SV 14.50 4 5 3 4.8 1.5 4.7 8.9 8.2 4.4 7.6 122.0 -48.8 1.0Royce Micro-Cap Inv (RYOTX) SC/SV 15.88 4 5 3 7.4 2.8 6.2 14.0 9.8 5.9 9.0 143.6 -52.3 0.0Royce PA Mutual Fd Inv (PENNX) SC/SV 13.30 2 4 2 15.7 1.9 8.0 23.9 17.7 7.4 9.6 171.5 -50.4 1.0Royce Total Return Fd Inv (RYTRX) GI/SV 15.64 1 3 1 15.3 0.8 7.4 22.8 16.7 7.6 8.6 157.7 -47.2 1.3Royce Value Plus Svc (RYVPX) SC/SG 15.96 3 4 3 15.4 1.9 9.6 20.6 14.8 4.8 10.0 140.9 -53.4 0.0Rydex NASDAQ-100 Inv (RYOCX) AG/LG 20.08 2 3 1 15.7 3.2 12.4 11.1 20.2 10.0 8.2 173.2 -50.3 0.0Schroder US Opportunities Adv (SCUVX) SC/SV 26.79 2 3 2 18.7 2.8 11.7 23.5 16.3 7.2 — 147.7 -45.5 0.0Schwab 1000 (SNXFX) GI/LB 44.74 2 3 2 16.3 0.9 9.0 19.1 18.2 7.3 7.2 152.1 -50.8 1.7Schwab Core Equity (SWANX) GR/LB 21.86 ▲ 2 3 3 15.5 1.2 8.1 17.9 18.0 6.1 7.4 122.5 -46.6 0.7Schwab Hedged Equity (SWHEX) AG/LS 17.83 ▲ 3 2 4 6.7 -0.5 3.2 9.1 9.3 3.7 6.0 64.4 -30.8 0.0Selected American Shares S (SLASX) GI/LB 46.10 ▲ 2 3 3 17.4 1.5 9.6 21.5 15.1 5.3 6.8 144.8 -54.5 1.5Sequoia Fund (SEQUX) GR/LB 198.53 1 2 2 18.0 0.9 10.0 25.0 21.1 10.7 8.2 156.4 -40.7 0.0Shelton - S&P MidCap Index Fund S (SPMIX) GR/XM 26.54 1 3 1 17.2 0.3 8.1 23.4 19.1 8.9 9.5 186.3 -49.7 0.9Sit Mid Cap Growth Fund (NBNGX) GR/MG 18.60 3 4 2 14.5 2.8 9.0 18.6 17.2 6.2 8.4 152.1 -54.5 0.0Sound Shore Fund (SSHFX) GR/VL 42.68 3 3 3 22.8 2.6 14.9 31.4 18.3 5.5 7.5 131.7 -47.5 0.7State Farm Growth Fund (STFGX) GR/LB 61.55 3 2 3 12.2 -0.4 4.8 14.4 13.2 5.0 6.9 106.2 -42.4 2.3Sterling Capital Equity Income A (BAEIX) Y GI/LG 17.86 2 2 ▼ 3 13.4 -1.0 6.3 14.3 15.1 8.2 — 130.6 -39.4 1.3Sterling Capital Opportunities A (BOPAX) Y GR/LG 20.74 3 3 3 15.2 2.2 9.5 21.4 14.4 6.4 10.6 117.3 -39.3 0.0SunAmerica Focused Div Strategy A (FDSAX) Y GI/LB 16.25 1 2 1 26.6 4.2 17.6 25.2 21.9 14.1 9.8 250.5 -53.0 2.4T. Rowe Price Blue Chip Growth Fd (TRBCX) GR/LB 53.76 2 3 1 17.8 3.4 11.6 19.8 21.2 8.8 7.9 161.8 -50.1 0.2T. Rowe Price Cap Appreciation (PRWCX) GI/VL 25.07 2 2 2 12.7 1.7 7.3 16.5 15.2 8.3 9.4 129.7 -36.2 1.5T. Rowe Price Cap Opportunity (PRCOX) GR/LB 19.17 2 3 3 16.0 0.8 8.9 18.4 18.0 7.2 7.2 146.1 -49.9 1.1T. Rowe Price Dividend Growth (PRDGX) GI/LV 30.10 2 2 3 15.1 0.6 7.8 18.5 18.0 7.2 7.6 137.0 -45.3 1.5T. Rowe Price Divrs Mid Cap Grth (PRDMX) GR/MG 19.74 ▲ 1 4 1 18.3 2.9 10.2 22.1 19.1 8.6 — 180.1 -51.8 0.2T. Rowe Price Equity Income Fd (PRFDX) IN/LV 30.39 1 2 ▲ 2 15.9 0.4 8.2 21.2 17.2 7.2 7.6 160.1 -52.6 1.7T. Rowe Price Equity Index 500 (PREIX) GI/X5 44.13 2 3 2 15.9 0.6 8.8 18.4 18.1 7.1 6.8 149.3 -51.0 1.7T. Rowe Price Growth & Inc (PRGIX) GI/LV 25.93 2 2 3 15.5 1.2 8.6 18.8 17.1 6.6 6.9 136.6 -47.8 1.1T. Rowe Price Growth Stock Fd (PRGFX) GR/LG 43.99 2 3 1 16.4 3.3 11.0 18.2 19.9 8.6 8.0 151.4 -49.1 0.2T. Rowe Price Mid-Cap Growth Fd (RPMGX) GR/MG 68.09 1 3 1 20.6 4.0 12.1 24.9 20.0 10.7 11.0 186.1 -48.2 0.0T. Rowe Price Mid-Cap Value Fd (TRMCX) GR/MV 27.72 1 3 2 15.3 0.4 7.3 21.2 16.6 9.4 10.3 174.8 -47.5 1.0T. Rowe Price New Amer Growth (PRWAX) GR/LG 41.73 2 3 1 16.2 4.3 11.3 19.9 18.4 8.8 8.3 153.6 -45.5 0.4T. Rowe Price New Horizons (PRNHX) SC/SG 42.76 1 3 1 28.9 7.9 18.2 30.6 28.5 15.4 12.1 254.8 -49.9 0.0T. Rowe Price Personal Strategy Gr (TRSGX) GR/LG 28.29 ▼ 2 3 1 10.6 0.7 6.0 16.4 15.0 7.0 8.0 137.5 -48.2 1.3T. Rowe Price Small Cap Stock Fd (OTCFX) SC/SB 40.86 1 4 1 20.1 3.5 10.9 25.0 23.0 12.8 11.6 221.8 -43.9 0.3T. Rowe Price Small Cap Value Fd (PRSVX) SC/SV 44.71 ▼ 2 3 1 14.1 0.8 6.8 22.4 19.6 8.3 10.5 178.6 -47.4 1.2T. Rowe Price Value Fd (TRVLX) GI/VL 31.77 1 3 2 20.4 1.4 11.4 27.7 19.5 8.0 8.4 185.1 -54.3 1.3TETON Westwood Equity Fund AAA (WESWX) GI/LB 11.57 3 3 3 15.7 0.3 9.8 20.6 16.5 4.4 7.8 112.5 -48.2 0.7TIAA-CREF Growth & Inc Retail (TIIRX) GI/LG 14.30 2 3 3 16.1 1.4 9.6 18.0 18.7 7.7 — 137.7 -45.8 0.7TIAA-CREF Mid-Cap Gr Retire (TRGMX) GI/MG 22.94 2 4 1 20.4 3.5 12.2 23.4 19.4 9.0 8.7 186.4 -54.3 0.4TIAA-CREF Mid-Cap Val Retire (TRVRX) GR/MG 21.51 1 3 1 16.6 0.8 8.5 22.1 17.6 7.3 9.6 171.7 -53.8 1.2Target Moderate Growth A (PAMGX) Y GR/LG 12.39 3 2 4 7.2 0.1 3.2 10.3 10.1 4.9 5.9 89.4 -39.7 1.7The Arbitrage Fund R (ARBFX) GR/MK 12.55 ▲ 3 1 5 0.0 0.4 0.2 -1.5 0.9 2.3 2.9 12.3 1.3 0.7The Fairholme Fund (FAIRX) GR/LV 37.38 4 5 3 18.9 -1.2 13.7 24.1 9.9 6.0 10.9 142.7 -47.8 0.0The Osterweis Fund (OSTFX) GR/MB 33.37 3 2 3 19.0 1.0 8.8 22.4 14.3 7.1 8.7 105.9 -35.3 1.7The Torray Fund (TORYX) GI/LB 39.06 2 2 3 19.1 1.4 11.0 20.6 16.1 5.8 4.7 136.0 -50.4 1.2Third Avenue Value Fund Inv (TVFVX) GR/SV 54.77 4 ▼ 5 - 9.9 0.5 5.0 20.8 10.3 — — — — 2.2Thrivent Large Cap Stock Fund A (AALGX) Y GR/LB 25.80 3 3 3 15.0 1.8 8.5 17.6 15.0 4.2 4.7 114.7 -50.5 0.9Thrivent Mid Cap Growth A (LBMGX) Y GR/MG 19.88 3 3 2 13.7 3.3 8.3 16.4 14.9 8.2 8.4 159.6 -50.6 0.0Tocqueville Fund (TOCQX) GR/VL 28.15 3 3 3 17.1 2.3 10.6 19.5 15.0 6.2 8.5 134.8 -50.3 1.2Touchstone Large Cap Growth A (TEQAX) Y GR/LG 29.79 3 2 3 12.5 0.8 7.8 9.8 16.0 4.6 7.2 120.5 -51.1 0.4Touchstone MidCap Growth A (TEGAX) Y GR/MG 24.69 3 4 3 16.2 1.6 7.6 21.4 16.0 5.8 8.0 139.3 -48.9 0.0Transamerica Partners Mid Value Inv (DVMVX) GR/MV 16.85 1 3 1 16.9 1.4 9.1 23.2 18.6 7.9 9.7 164.8 -50.8 0.6Turner Large Growth Fund Inv (TCGFX) GR/LG 13.72 4 3 4 10.5 3.4 7.5 10.6 13.1 3.1 — 103.6 -55.6 0.2Tweedy Browne Value Fund (TWEBX) GR/VL 22.20 2 2 3 12.3 -0.5 5.5 17.5 13.4 8.0 6.6 117.4 -39.4 0.8UBS PACE Sm/Medium Co Gr Eq P (PCSGX) SC/SG 21.90 2 4 1 21.8 6.1 13.2 25.5 23.2 10.3 8.6 193.7 -53.9 0.0







S E P T E M B E R 2 0 1 3 2 1

GENERAL EQUITY

0 34 35 ▼ 23 0 0 0 0 0 0 6 - - 93 4.75 1.45 2500 Team Managed - - 800 766-3863 18 0 74 0 0 0 0 0 0 0 - - - 96 4.75 1.35 2500 Team Managed - - 800 766-3863 51 7 23 5 0 0 0 12 0 0 - - - 99 None 1.60 1000 Frederick L. Reynolds 8/88 -2.0 800 773-9665 14 42 0 23 7 7 0 0 0 0 7 - - 98 None 1.08 0 Don Wordell 12/01 1.6 888 784-3863

- - - - - - - - - - 2 - - 94 None 2.73 2500 Team Managed - - 212 908-9500▲ 21 0 22 28 8 0 13 0 0 0 2 - - 98 None 1.49 2000 W. Whitney George 12/01 -2.0 800 221-4268

0 0 0 86 0 0 6 0 0 0 2 - - 87 None 1.56 2000 Team Managed - - 800 221-4268 20 0 25 44 5 0 2 0 0 0 2 - - 97 None 0.91 2000 Team Managed - - 800 221-4268 18 ▼ 0 19 47 6 7 0 0 0 0 1 0 - 93 None 1.12 2000 Team Managed - - 800 221-4268

▲ 32 0 ▼ 34 29 0 0 1 0 0 0 5 - - 92 None 1.47 2000 W. Whitney George 6/01 5.0 800 221-4268 82 0 0 0 6 0 0 0 0 0 0 - - 91 None 1.26 2500 Team Managed - - 800 888-2461

▼ 0 ▲ 19 27 ▼ 34 0 0 1 0 ▲ 15 0 8 - - 92 None 1.57 2500 Jenny B. Jones 5/06 1.7 800 464-3108 43 40 0 0 3 0 0 ▼ 0 ▲ 12 0 1 0 0 100 None 0.29 100 Team Managed - - 800 407-0256 29 48 6 0 3 0 0 ▼ 0 ▲ 11 0 1 - - 99 None 0.72 100 Larry Mano 12/02 0.5 800 407-0256

▼ 0 ▲ 81 0 0 ▼ 0 0 0 0 0 7 1 - - 99 None 2.80 100 Larry Mano 12/05 -0.6 800 407-0256 26 56 0 0 11 3 0 0 0 0 3 0 - 96 None 0.95 1000 Christopher Davis 12/94 1.9 800 279-0279 47 0 27 0 7 0 0 0 0 0 - 16 - 81 None 1.00 Closed Robert D. Goldfarb 6/98 2.5 800 686-6884 24 15 20 15 0 0 0 0 ▲ 15 6 - - - 97 None 0.57 1000 Stephen C. Rogers 12/03 0.3 800 955-9988 62 ▲ 11 23 0 0 0 0 0 0 0 - - - 98 None 1.25 5000 Team Managed - - 800 332-5580 22 61 0 0 13 0 0 0 0 0 2 - - 98 None 0.94 10000 Team Managed - - 800 754-8758

▼ 23 ▲ 45 0 0 19 0 0 0 0 0 1 - - 99 None 0.12 250 Paul Eckley 1/91 0.0 800 447-4930▼ 9 ▲ 35 0 0 19 0 0 ▼ 0 ▲ 26 0 - - - 89 5.75 1.19 1000 George F. Shipp 8/04 3.6 800 228-1872

35 51 0 0 0 0 3 0 0 0 - - - 89 5.75 1.27 1000 George F. Shipp 6/03 3.4 800 228-1872▼ 26 43 0 0 5 0 0 0 0 ▲ 10 - - - 99 5.75 0.98 500 Brendan Voege 9/06 6.4 800 858-8850

97 0 0 0 0 0 0 0 0 0 1 - - 100 None 0.75 2500 Larry J. Puglia 6/93 1.3 800 225-5132 44 ▲ 38 0 0 12 0 0 0 0 0 12 26 1 62 None 0.71 2500 David R. Giroux 6/06 2.9 800 225-5132 47 36 0 0 4 0 0 ▼ 0 ▲ 11 0 1 - - 100 None 0.72 2500 Anna M. Dopkin 4/07 1.9 800 225-5132

▼ 36 44 0 0 5 0 0 0 ▲ 12 0 5 - - 95 None 0.66 2500 Thomas J. Huber 3/00 0.9 800 225-5132 66 0 22 0 0 0 0 0 9 0 6 - 0 99 None 0.92 2500 Donald J. Peters 1/04 0.0 800 225-5132

▼ 0 ▲ 75 0 0 9 0 0 0 9 5 7 - 1 92 None 0.67 2500 Brian C. Rogers 10/85 1.4 800 225-5132 42 41 0 0 6 0 0 ▼ 0 9 0 2 - - 99 None 0.28 2500 E. Frederick Bair 12/02 0.4 800 225-5132 47 31 0 0 5 0 0 ▼ 0 ▲ 13 0 1 - - 99 None 0.68 2500 Thomas J. Huber 3/07 2.1 800 225-5132 96 0 0 0 0 0 0 0 0 0 1 - 0 99 None 0.69 2500 P. Robert Bartolo 10/07 1.8 800 225-5132 54 10 30 0 0 0 0 0 0 0 5 - 0 95 None 0.78 2500 Brian W. H. Berghuis 6/92 3.2 800 225-5132

▼ 0 50 14 6 0 0 2 0 19 5 7 0 0 90 None 0.80 2500 David J. Wallack 12/00 2.6 800 225-5132 77 0 9 0 0 0 0 11 0 0 1 - 0 99 None 0.80 2500 Joseph M. Milano 7/02 1.0 800 225-5132 45 0 49 0 0 0 0 0 0 0 5 0 2 89 None 0.80 2500 Henry M. Ellenbogen 3/10 9.2 800 225-5132 37 16 0 3 14 4 0 7 12 5 3 10 0 75 None 0.69 2500 Charles M. Shriver 1/11 2.3 800 225-5132 30 0 30 37 0 0 0 0 0 0 8 - 0 92 None 0.91 2500 Gregory McCrickard 9/92 2.1 800 225-5132 16 0 17 64 0 0 1 0 0 0 6 0 1 93 None 0.81 2500 Preston G. Athey 8/91 1.5 800 225-5132 29 68 0 0 0 0 0 0 0 0 1 - - 100 None 0.84 2500 Mark S. Finn 1/09 1.4 800 225-5132 21 53 0 0 8 0 0 13 0 0 2 - - 98 None 1.75 1000 Team Managed - - 800 422-3554 52 34 3 0 0 0 0 9 0 0 1 - 1 99 None 0.80 2500 Susan Kempler 3/06 2.6 800 842-8009 55 0 25 0 0 0 0 0 16 0 8 - 1 95 None 0.73 0 George Ted Scalise 12/02 0.0 800 842-8009 21 37 0 12 0 3 0 19 0 6 4 - 0 97 None 0.71 0 Richard Cutler 12/02 0.5 800 842-8009

▼ 28 26 0 0 5 0 0 0 ▲ 14 15 8 15 - 68 5.50 1.41 2500 Team Managed - - 800 225-1852- - - - - - - - - - 7 - - 97 None 1.97 2000 Team Managed - - 800 295-4485

0 59 0 10 0 0 0 0 0 0 1 8 - 85 None 1.01 10000 Bruce R. Berkowitz 12/99 7.1 866 202-2263 24 11 7 0 11 0 0 16 ▲ 18 6 7 - - 84 None 1.03 5000 Team Managed - - 800 700-3316 18 ▲ 75 0 0 0 0 0 0 0 0 5 - - 95 None 1.17 2500 Robert E. Torray 12/90 0.7 800 443-3036 0 38 0 0 ▲ 42 6 0 0 0 0 - 0 - 87 None 1.40 2500 Ian Lapey 12/09 -7.9 800 880-8442 44 39 0 0 12 0 0 0 0 0 10 - - 91 5.50 1.06 2000 Matthew D. Finn 1/07 -0.5 800 847-4836 48 18 28 0 0 0 1 0 0 0 9 - - 95 5.50 1.01 2000 Andrea J. Thomas 1/03 -0.8 800 847-4836 40 40 6 0 9 0 0 0 0 0 1 - - 99 None 1.26 1000 Robert W. Kleinschmidt 1/92 -1.3 800 697-3863 60 0 0 0 0 0 0 19 0 10 1 - - 95 5.75 1.22 2500 Louis G. Navellier 12/97 0.6 800 543-0407 45 20 16 0 0 0 0 15 0 0 1 - - 99 5.75 1.40 2500 William A. Muggia 4/99 2.9 800 543-0407 23 45 21 0 0 0 0 0 9 0 7 - - 98 None 1.25 5000 Team Managed - - 888 233-4339 94 0 0 0 0 0 0 0 0 0 3 - - 97 None 0.94 2500 Robert E. Turner 8/05 -2.5 800 224-6312 10 23 0 0 22 0 0 0 34 0 - 2 - 88 None 1.39 2500 Team Managed - - 800 432-4789 17 0 78 0 0 3 0 0 0 0 8 - - 97 None 1.13 10000 Team Managed - - 888 793-8637






2 2 S E P T E M B E R 2 0 1 3


GENERAL EQUITY

USAA Growth Fund (USAAX) GR/LG 19.60 2 3 3 16.1 1.2 8.3 21.0 19.0 5.4 5.7 127.5 -51.8 0.3USAA Income Stock Fund (USISX) GI/LB 15.78 2 2 3 17.0 0.6 9.5 18.7 17.6 6.0 6.2 136.1 -52.4 1.5Vanguard 500 Index Inv (VFINX) GI/X5 151.04 2 3 2 16.0 0.6 8.9 18.5 18.2 7.2 7.1 150.6 -51.0 1.8Vanguard Dividend Apprec Index Inv (VDAIX) GI/LB 26.93 ▼ 2 2 3 14.1 0.2 6.3 16.9 16.6 7.8 — 131.4 -41.1 2.0Vanguard Dividend Growth Fd (VDIGX) GI/LB 19.26 2 2 3 16.9 0.9 9.2 18.3 18.1 8.4 9.1 130.3 -37.9 1.8Vanguard Equity Income Inv (VEIPX) IN/LV 27.68 1 2 2 16.2 0.4 8.0 18.9 19.5 8.9 8.7 163.5 -48.9 2.5Vanguard Explorer Fund Inv (VEXPX) SC/SG 98.93 2 4 2 24.5 4.8 15.8 27.1 21.0 9.0 8.4 181.9 -52.4 0.3Vanguard Extended Market Index Inv (VEXMX) GR/SB 55.09 1 4 1 20.1 2.9 11.4 26.9 20.7 9.3 9.9 199.4 -52.8 1.2Vanguard Growth & Income Inv (VQNPX) GI/LB 35.00 2 3 3 16.4 0.8 9.3 18.9 18.9 6.4 6.5 147.6 -51.9 1.7Vanguard Growth Equity (VGEQX) GR/LG 14.24 2 3 2 16.0 3.2 10.2 17.4 18.1 6.2 5.8 143.0 -55.5 0.9Vanguard Growth Index Inv (VIGRX) GR/LG 41.69 2 3 ▲ 1 14.4 1.4 8.5 15.4 19.0 7.9 7.2 149.4 -47.2 1.2Vanguard Mid-Cap Growth Fd (VMGRX) GR/MG 24.14 3 3 2 18.5 2.6 10.3 14.8 17.5 8.1 8.3 151.8 -49.6 0.3Vanguard Mid-Cap Index Inv (VIMSX) GR/XM 26.72 1 3 1 18.9 1.8 10.0 24.7 19.2 9.0 9.8 189.3 -53.6 1.0Vanguard Morgan Growth Inv (VMRGX) GR/LB 23.17 2 3 2 16.4 1.9 10.4 17.5 18.1 6.8 7.3 142.5 -50.3 0.8Vanguard PRIMECAP Core Inv (VPCCX) GR/LB 17.89 1 3 ▼ 2 19.8 1.1 10.7 22.7 17.9 8.6 — 146.0 -43.0 1.4Vanguard PRIMECAP Fund Inv (VPMCX) GR/LG 83.66 2 3 3 20.4 0.6 10.7 24.1 16.5 6.7 9.0 134.9 -44.4 1.1Vanguard Selected Value Fund (VASVX) GR/MV 25.81 1 3 1 23.0 4.6 14.3 29.3 20.2 11.2 10.6 179.8 -48.1 1.6Vanguard Small-Cap Grwth Index Fd (VISGX) SC/XS 30.27 ▲ 1 4 1 20.9 3.8 12.9 26.5 23.0 10.3 10.3 217.9 -53.5 0.7Vanguard Small-Cap Index Inv (NAESX) SC/XS 46.36 1 4 1 19.7 2.3 11.1 26.3 21.1 9.7 10.0 211.9 -53.3 1.4Vanguard Small-Cap Value Index Fd (VISVX) SC/XS 20.51 1 3 1 17.9 1.0 8.8 25.5 19.0 8.8 9.5 203.8 -53.3 2.0Vanguard Strategic Equity Fund (VSEQX) AG/MB 25.86 1 4 1 20.6 1.5 11.1 26.9 22.3 8.3 8.5 198.3 -56.2 1.3Vanguard Tax-Managed Small Cap Inv (VTMSX) SC/SB 37.68 ▲ 1 ▲ 3 1 21.0 4.0 12.9 26.3 22.4 9.4 10.2 199.2 -50.9 1.2Vanguard Total Stock Mkt Index Inv (VTSMX) GI/XI 41.30 1 3 2 16.9 1.2 9.4 20.1 18.8 7.7 7.7 158.9 -50.9 1.8Vanguard US Growth Inv (VWUSX) GR/LG 24.67 ▲ 2 3 3 16.0 3.1 9.4 19.3 19.3 7.3 6.3 135.2 -47.2 0.4Vanguard Value Index Inv (VIVAX) GR/VL 26.79 ▼ 2 3 3 18.1 0.6 9.4 22.7 17.6 6.8 7.5 153.3 -54.0 2.2Vanguard Windsor-I Inv (VWNDX) GI/LV 18.05 1 3 2 20.0 1.4 11.5 28.2 19.6 8.7 7.1 172.6 -56.1 1.3Vanguard Windsor-II Inv (VWNFX) GI/LV 33.87 2 3 3 16.5 0.3 10.2 20.6 18.6 7.4 8.0 152.7 -52.9 2.0Vantagepoint Mdl Port Tradit Grw (VPTGX) GR/LB 25.15 3 2 4 8.2 0.2 4.3 11.3 10.4 5.6 5.9 84.9 -34.6 1.5Victory Diversified Stk A (SRVEX) Y GR/LB 19.81 3 3 3 19.4 2.8 12.0 23.3 16.6 4.5 7.2 126.8 -49.2 0.9Victory Established Value R (GETGX) GR/VL 31.79 1 3 1 16.7 1.2 7.0 22.6 16.9 8.8 10.6 155.8 -42.6 0.5Virtus Dynamic AlphaSector Fund A (EMNAX) Y GR/MK 11.33 3 ▼ 2 4 17.9 0.0 8.8 18.7 3.8 3.5 0.8 19.4 -1.7 0.6Waddell & Reed Adv Accumul A (UNACX) Y GR/LB 9.45 3 3 3 15.4 1.6 9.8 16.6 16.2 4.0 6.1 119.1 -51.2 0.4Waddell & Reed Adv Core Invest A (UNCMX) Y GI/LB 7.27 2 3 2 15.2 1.7 9.2 18.4 19.8 8.2 8.8 150.5 -46.7 0.4Waddell & Reed Adv Div Opps A (WDVAX) Y GI/LG 17.42 3 3 3 13.4 -0.1 6.7 14.9 14.8 3.5 7.1 103.8 -47.5 1.1Waddell & Reed Adv New Concepts A (UNECX) Y AG/MG 11.57 2 3 1 16.9 4.9 9.6 22.4 19.2 12.9 11.0 201.2 -47.9 0.0Waddell & Reed Adv Tax Mngd Eq A (WTEAX) Y GR/LG 15.27 3 3 3 13.5 1.3 7.5 15.3 16.6 6.4 8.1 109.4 -41.7 0.3Wasatch Core Growth Fund (WGROX) SC/SB 49.62 1 3 1 15.1 1.3 9.7 23.3 22.7 10.8 8.6 218.9 -55.1 0.0Wasatch Heritage Growth (WAHGX) GI/MG 14.24 2 3 2 14.2 3.7 8.1 17.1 16.3 8.6 — 150.7 -45.6 0.1Wasatch Micro Cap Fund (WMICX) SC/SB 6.91 3 4 2 24.1 6.1 16.3 25.2 20.1 8.6 7.5 188.0 -60.8 0.0Wasatch Small Cap Growth (WAAEX) SC/SG 48.26 1 3 1 16.9 3.3 11.2 21.5 21.3 12.6 8.5 201.0 -51.3 0.0Wasatch Small Cap Value (WMCVX) SC/SV 4.92 1 3 2 22.4 5.1 15.0 32.3 20.8 8.4 8.5 215.0 -58.1 0.0Wasatch Ultra Growth (WAMCX) AG/SG 23.06 ▼ 3 3 2 16.9 3.7 10.8 21.9 16.6 8.4 4.8 194.4 -62.6 0.0Wasatch-1st Source Inc Equity (FMIEX) GI/LB 16.38 3 3 4 15.9 0.9 8.0 19.3 13.8 4.6 8.7 105.8 -43.4 1.1Wasatch-1st Source Long/Short (FMLSX) AG/MB 15.29 3 2 ▼ 4 9.8 -1.9 3.0 13.3 12.3 5.9 6.7 83.7 -26.5 0.0Weitz Hickory Fund (WEHIX) GR/SV 53.66 1 3 1 17.0 4.1 11.4 23.2 21.6 13.1 9.0 194.4 -49.6 0.0Weitz Partners Value Fund (WPVLX) GR/VL 29.52 1 ▲ 2 1 19.0 2.0 11.3 24.8 20.8 12.4 7.4 175.0 -48.6 0.0Wells Fargo Adv Capital Growth A (WFCGX) Y GR/LG 19.78 3 3 3 16.6 3.0 10.2 14.5 16.7 3.9 — 121.5 -52.5 0.0Wells Fargo Adv Common Stock Inv (STCSX) GR/VL 23.69 2 ▲ 3 1 13.4 1.3 6.9 21.1 18.0 9.5 10.0 177.7 -46.9 0.0Wells Fargo Adv Discovery Inv (STDIX) AG/GW 31.62 ▲ 1 4 1 25.2 6.4 16.5 27.4 23.7 10.2 10.9 207.4 -52.2 0.0Wells Fargo Adv Growth Fund Inv (SGROX) GR/GW 46.18 2 3 1 16.1 5.3 10.9 16.1 23.1 13.1 11.0 202.4 -48.4 0.0Wells Fargo Adv Large Co Value Inv (SDVIX) IN/LV 16.32 3 3 3 18.6 2.5 11.2 22.2 16.1 5.3 7.2 133.6 -49.9 1.1Wells Fargo Adv Lrg Cap Growth Inv (STRFX) GR/LG 39.20 3 3 2 15.5 4.0 10.9 14.8 18.5 8.0 7.1 140.0 -46.3 0.0Wells Fargo Adv Omega Growth A (EKOAX) Y AG/LG 47.84 ▲ 2 4 1 18.1 3.9 12.8 20.8 19.8 11.1 8.7 152.7 -38.3 0.0Wells Fargo Adv Spcl MidCp Val Inv (SMCDX) GR/MB 29.53 1 3 2 21.0 2.5 9.7 32.0 21.1 10.0 9.9 169.9 -44.5 0.6Westport Fund R (WPFRX) GR/MB 29.78 2 3 2 14.1 1.6 8.1 17.7 17.9 8.4 10.2 142.7 -39.5 0.0William Blair Growth N (WBGSX) GR/GW 13.93 3 3 3 15.6 2.5 8.2 17.4 16.3 6.5 7.1 128.6 -47.2 0.0Wilshire Large Co Growth Inv (DTLGX) GR/LG 39.42 3 3 2 13.6 2.4 8.9 13.0 16.8 6.5 6.1 130.8 -50.2 0.2Wintergreen Fund (WGRNX) GR/LG 15.94 3 2 3 5.6 -4.9 -0.8 11.0 9.2 5.2 — 120.8 -49.9 0.3Yacktman Focused Fund (YAFFX) GR/LV 24.14 1 2 ▼ 2 17.6 1.2 8.6 19.6 16.4 15.3 11.0 214.2 -38.3 0.4Yacktman Fund (YACKX) GI/VL 22.55 1 2 1 17.9 1.3 9.1 20.7 17.1 15.2 10.8 217.1 -41.0 0.6







S E P T E M B E R 2 0 1 3 2 3

GENERAL EQUITY

74 9 0 8 5 0 0 0 0 0 2 - - 99 None 1.00 3000 Team Managed - - 800 531-8181 31 ▲ 53 0 0 12 0 0 0 0 0 2 - 0 97 None 0.86 3000 Team Managed - - 800 531-8181 41 41 0 0 6 0 0 ▼ 0 9 0 1 - - 100 None 0.17 3000 Michael H. Buek 12/91 0.4 800 662-7447

▼ 30 ▲ 38 0 0 4 0 0 0 ▲ 19 0 0 - - 100 None 0.20 3000 Ryan E. Ludt 4/06 2.5 800 662-7447▼ 27 ▲ 35 0 0 7 0 0 ▼ 0 ▲ 23 0 3 - - 97 None 0.29 3000 Donald J. Kilbride 2/06 3.9 800 662-7447

19 ▲ 39 0 0 15 0 0 20 0 0 3 - - 95 None 0.30 3000 Team Managed - - 800 662-7447 38 ▼ 0 52 8 0 0 0 0 0 0 5 - - 96 None 0.50 3000 Team Managed - - 800 662-7447 24 8 22 22 0 0 0 ▲ 10 7 6 2 - - 100 None 0.48 3000 Donald M. Butler 12/97 -1.0 800 662-7447 37 44 0 0 4 0 0 12 0 0 3 - - 98 None 0.36 3000 Team Managed - - 800 662-7447 97 0 0 0 0 0 0 0 0 0 9 - - 89 None 0.53 3000 Mick Brewis 4/08 -0.1 800 662-7447 80 0 0 3 4 0 0 0 ▲ 11 0 0 - - 100 None 0.48 3000 Gerard C. O’Reilly 12/94 0.7 800 662-7447 55 0 41 0 0 0 0 0 0 0 6 - - 93 None 0.53 3000 Team Managed - - 800 662-7447 42 23 14 0 0 0 0 0 9 8 1 - - 100 None 0.48 3000 Donald M. Butler 5/98 0.9 800 662-7447 85 7 5 0 0 0 0 0 0 0 4 - - 96 None 0.39 3000 Team Managed - - 800 662-7447 83 0 0 0 11 0 0 0 0 0 5 - - 96 None 0.50 3000 Team Managed - - 800 662-7447 86 0 0 0 6 0 0 0 0 0 5 - - 95 None 0.45 3000 Team Managed - - 800 662-7447 28 42 0 15 6 4 1 0 0 0 11 - 2 87 None 0.40 3000 Team Managed - - 800 662-7447 29 0 41 12 0 0 0 0 10 5 2 - - 100 None 0.48 3000 Gerard C. O’Reilly 12/04 2.4 800 662-7447 20 11 27 24 0 0 0 0 ▲ 10 8 2 - - 99 None 0.48 3000 Michael H. Buek 12/91 0.3 800 662-7447 0 31 20 33 0 3 0 0 0 10 1 - - 99 None 0.48 3000 Michael H. Buek 5/98 1.2 800 662-7447 27 17 17 14 0 0 0 22 0 0 2 - - 99 None 0.28 3000 Team Managed - - 800 662-7447 12 0 26 59 2 0 0 0 0 0 - - - 97 None 0.24 10000 Michael H. Buek 4/99 1.6 800 662-7447 43 36 0 6 3 0 0 ▼ 0 ▲ 11 0 1 - - 100 None 0.34 3000 Gerard C. O’Reilly 12/94 4.0 800 662-7447

▼ 86 0 0 0 0 0 0 ▲ 11 0 0 4 - - 96 None 0.45 3000 Team Managed - - 800 662-7447 12 67 0 0 4 0 0 ▼ 0 ▲ 12 0 0 - - 100 None 0.48 3000 Gerard C. O’Reilly 12/94 -1.6 800 662-7447 9 77 0 7 6 0 0 0 0 0 5 - 1 96 None 0.37 3000 Team Managed - - 800 662-7447 8 75 0 0 14 0 0 0 0 0 5 - 0 94 None 0.35 3000 Team Managed - - 800 662-7447 27 20 3 3 14 1 0 0 16 14 - - - - None 0.11 0 Team Managed - - 781 937-4999 34 42 0 5 15 0 0 0 0 0 - - - 99 5.75 1.09 2500 Team Managed - - 800 539-3863 26 42 ▲ 10 ▼ 7 0 0 1 0 11 0 - - - 90 None 1.21 0 Team Managed - - 800 539-3863 33 40 0 0 8 0 0 ▼ 0 ▲ 14 0 0 - - - 5.75 2.64 2500 Amy Robinson 2/12 - 800 243-1574

▲ 51 37 0 0 8 0 0 0 ▼ 0 0 2 - - 99 5.75 1.15 500 Barry M. Ogden 4/04 0.0 888 923-3355 57 38 0 0 0 0 0 0 0 0 3 - - 97 5.75 1.09 500 Erik R. Becker 7/06 3.0 888 923-3355 28 55 0 0 12 0 0 0 0 0 3 - - 97 5.75 1.29 500 David P. Ginther 7/03 -0.3 888 923-3355

▲ 54 ▼ 0 34 0 5 0 0 0 0 0 3 - - 97 5.75 1.41 500 Kimberly A. Scott 2/01 0.6 888 923-3355 87 0 0 5 4 0 0 0 0 0 2 - - 98 5.75 1.14 500 Sarah C. Ross 1/09 -0.2 888 923-3355 0 21 61 0 0 8 0 0 0 0 8 - - 92 None 1.21 2000 JB Taylor 12/00 1.6 800 551-1700 57 0 25 0 7 0 0 0 0 0 5 - - 96 None 0.95 2000 Christopher D. Bowen 6/04 -1.1 800 551-1700

▲ 14 0 ▼ 47 28 0 0 0 0 0 0 4 - - 98 None 2.15 2000 Daniel Chace 1/04 -1.7 800 551-1700 20 0 59 0 0 11 0 0 0 0 6 - - 94 None 1.24 2000 Jeff Cardon 12/86 1.0 800 551-1700 0 ▲ 14 ▼ 48 28 0 0 0 0 0 0 4 - - 97 None 1.30 2000 Jim Larkins 1/99 2.1 800 551-1700 0 0 73 0 0 14 0 0 0 0 1 - - 95 None 1.31 2000 Team Managed - - 800 551-1700

▼ 0 ▲ 85 0 0 5 5 0 0 0 0 6 - - 92 None 0.71 2000 Ralph C. Shive 9/96 2.7 800 551-1700 0 65 0 18 0 0 4 0 0 0 24 - - 77 None 1.48 2000 Michael Shinnick 8/03 -0.1 800 551-1700 16 0 24 18 13 0 0 ▲ 18 ▼ 0 0 32 - - 68 None 1.26 2500 Wallace R. Weitz 1/03 0.7 800 304-9745 33 22 21 0 8 6 0 0 0 0 29 - - 71 None 1.19 2500 Wallace R. Weitz 12/93 1.1 800 304-9745 83 0 4 0 0 0 0 10 0 0 1 0 - 99 5.75 1.21 1000 Thomas J. Pence 8/07 -1.2 800 359-3379 15 32 23 17 0 0 1 0 9 0 5 0 - 95 None 1.38 2500 Ann M. Miletti 10/01 2.1 800 359-3379 40 0 53 0 0 0 0 0 0 0 3 0 - 97 None 1.36 2500 Team Managed - - 800 359-3379 95 0 0 0 0 0 0 0 0 0 0 0 - 100 None 1.28 2500 Team Managed - - 800 359-3379 14 71 ▲ 11 ▼ 0 0 0 0 0 0 0 1 0 - 99 None 1.33 2500 Stephen L. Block 3/08 1.2 800 359-3379 96 0 0 0 0 0 0 0 0 0 1 0 - 99 None 1.32 2500 Team Managed - - 800 359-3379 83 0 13 0 0 0 0 0 0 0 2 0 - 98 5.75 1.35 1000 Michael T. Smith 5/10 2.5 800 359-3379 26 31 10 10 0 0 0 0 17 0 7 0 - 93 None 1.37 2500 Team Managed - - 800 359-3379 22 43 24 0 5 0 0 0 0 0 6 - - 94 None 1.23 2500 Edmund H. Nicklin Jr. 12/97 2.0 888 593-7878 77 0 17 0 0 0 0 0 0 0 - - - 99 None 1.20 2500 John F. Jostrand 5/01 0.3 800 742-7272

- - - - - - - - - - 24 - - 99 None 0.52 2500 Team Managed - - 888 200-6796 14 0 0 0 21 0 0 ▲ 16 ▼ 31 0 10 - - 89 None 1.89 10000 David J. Winters 11/05 1.3 888 468-6473

▼ 36 ▲ 18 0 0 0 0 0 ▲ 24 0 0 12 - - 84 None 1.25 2500 Team Managed - - 800 525-8258▼ 35 18 0 0 4 0 0 ▲ 25 0 0 12 - - 83 None 0.75 2500 Team Managed - - 800 525-8258






2 4 S E P T E M B E R 2 0 1 3


FOREIGN/GLOBAL EQUITY

Aberdeen Select Intl Equity Fund A (BJBIX) FO/LB 26.28 5 4 5 4.0 -3.3 0.0 14.7 2.3 -3.2 6.2 55.0 -57.0 0.5AllianzGI NFJ Mid-Cap Value Fd C (PQNCX) GL/MV 17.86 ▲ 1 3 1 15.0 1.5 8.4 19.8 15.2 7.1 6.2 156.7 -54.2 1.3American Century Intl Disc Inv (TWEGX) FO/MG 11.17 4 5 3 10.5 1.5 7.3 19.7 10.3 0.7 9.4 111.1 -63.9 1.4American Century Intl Gr Inv (TWIEX) FO/LG 12.27 4 4 3 7.0 -0.1 3.9 18.7 11.0 3.0 7.7 113.2 -56.5 1.4American Funds Cap Wld Gr&Inc C (CWGCX) GL/LV 39.95 4 3 4 9.6 0.1 5.6 16.9 10.9 3.7 8.6 104.5 -51.3 1.7American Funds EuroPacific Gr A (AEPGX) Y FO/LB 43.05 5 3 4 4.4 -0.8 2.1 14.3 7.8 3.3 9.1 94.3 -51.3 1.5American Funds New Economy A (ANEFX) Y GL/LG 34.39 1 3 2 21.0 3.5 12.5 29.8 19.2 10.2 9.1 165.1 -51.9 0.5American Funds New Perspective A (ANWPX) Y GL/LG 34.40 3 3 3 10.0 -0.3 5.5 17.3 13.7 6.6 9.2 127.3 -49.1 0.9American Funds New World A (NEWFX) Y FO/EM 53.90 4 3 3 -1.1 -3.7 -2.3 8.3 5.3 3.0 11.7 108.7 -53.1 1.2American Funds SMALLCAP World A (SMCWX) Y GL/SG 45.65 2 3 2 14.4 0.5 7.6 22.6 13.6 7.5 10.2 167.7 -59.7 1.1Artio Intl Equity II A (JETAX) FO/LB 11.17 5 4 5 3.1 -3.3 -1.0 13.6 3.2 -2.0 — 57.9 -54.0 2.1Artisan International Fund Inv (ARTIX) FO/LB 26.85 3 4 3 9.2 0.5 4.6 19.1 14.5 4.6 9.2 134.6 -58.5 1.0Artisan International Value Inv (ARTKX) FO/LB 35.21 2 3 2 15.9 5.7 10.1 27.6 17.1 10.3 13.2 160.5 -47.0 0.8BlackRock Latin America A (MDLTX) Y FO/LA 49.23 5 5 3 -18.8 -14.3 -20.1 -12.1 -7.0 -2.6 16.8 99.3 -61.3 1.7BlackRock Pacific A (MDPCX) Y PB/LV 18.75 4 4 4 7.1 -3.0 0.7 24.2 7.8 4.1 8.2 97.2 -52.0 1.6Columbia Acorn International Z (ACINX) FO/MG 43.46 3 3 3 7.6 -0.8 3.3 16.4 10.6 6.7 13.1 147.6 -58.0 2.5Columbia International Val A (NIVLX) Y FO/LV 13.76 5 4 5 8.5 0.1 7.1 16.0 6.2 0.2 6.8 70.1 -50.3 3.1DFA International Value II (DIVTX) FO/LV 5.41 4 5 4 8.2 2.4 6.5 20.8 7.8 1.7 8.9 116.8 -62.7 3.1DWS Global Growth Fund S (SCOBX) GL/LG 25.57 4 4 4 9.5 -0.5 5.4 19.2 9.3 2.8 7.9 118.6 -59.7 1.1DWS Latin America Fund S (SLAFX) FO/LA 27.27 5 5 ▲ 3 -16.6 -13.2 -18.2 -8.9 -4.3 -4.8 13.5 74.8 -60.9 1.4Dodge & Cox International Stock (DODFX) FO/LV 37.55 4 4 3 8.4 -0.5 5.2 22.3 9.7 3.2 10.0 142.4 -59.9 1.9Dreyfus Wrldwde Growth A (PGROX) Y GL/LB 48.33 3 3 3 7.4 -1.3 3.0 9.4 15.4 6.6 7.9 121.6 -44.3 1.3Eaton Vance Greater India A (ETGIX) Y PB/NJ 15.79 5 5 3 -28.9 -25.6 -25.1 -16.8 -13.6 -4.9 9.3 79.9 -69.7 0.0Eaton Vance Tax-Mgd Glb Div Inc C (ECDIX) GL/LB 10.28 4 2 4 6.6 -2.1 3.3 10.0 10.4 3.0 5.3 89.4 -47.9 3.3Fidelity Adv Capital Devlpment O (FDETX) GL/LB 13.53 3 3 2 14.8 1.5 9.3 16.9 17.3 5.1 6.3 143.2 -54.2 0.9Fidelity Adv Diversified Intl I (FDVIX) FO/LB 17.75 4 4 4 8.5 0.5 6.0 18.3 10.8 2.0 6.9 107.6 -58.1 1.4Fidelity Adv Mid Cap II I (FIIMX) GL/MG 20.41 2 3 3 18.2 2.1 9.6 23.1 14.0 7.4 — 149.6 -48.9 0.2Fidelity Adv New Insights I (FINSX) GL/MB 26.67 2 2 2 15.9 2.1 10.1 17.6 17.1 7.6 10.4 132.4 -46.7 0.1Fidelity Canada Fund (FICDX) FO/LB 54.00 5 3 4 0.9 0.0 0.3 4.2 4.4 -0.5 10.6 92.4 -54.1 1.3Fidelity China Region Fund (FHKCX) PB/NJ 32.63 4 5 3 6.4 -0.8 3.3 27.2 7.5 7.7 12.1 120.9 -57.1 1.2Fidelity Diversified Intl Fund (FDIVX) FO/LB 32.28 4 4 4 7.8 0.4 5.6 17.1 10.0 1.2 7.6 101.1 -57.6 1.4Fidelity Europe (FIEUX) EU/LB 34.41 4 5 4 10.1 1.2 6.8 22.8 12.1 2.7 9.7 106.0 -56.0 2.0Fidelity International Discovery (FIGRX) FO/LB 35.67 4 4 4 7.9 -0.4 4.8 18.3 10.6 2.3 8.5 103.0 -57.0 1.5Fidelity Intl Small Cap Opps (FSCOX) FO/SB 12.41 3 3 2 9.6 0.4 6.3 20.5 14.8 3.3 — 167.1 -70.2 0.8Fidelity Japan Fund (FJPNX) PB/JP 11.08 4 3 5 12.7 0.3 6.2 21.4 7.2 1.0 3.8 77.8 -53.2 1.3Fidelity Latin American Fund (FLATX) FO/LA 36.60 5 5 3 -21.0 -13.1 -19.5 -15.8 -6.1 -4.6 14.9 72.4 -59.6 2.4Fidelity Mid-Cap Stock Fund (FMCSX) GL/MB 35.39 1 3 1 21.6 3.8 12.2 24.0 20.6 9.0 8.9 197.3 -56.1 0.8Fidelity Nordic Fund (FNORX) EU/LB 38.36 3 5 3 20.3 4.3 10.8 29.4 14.3 3.8 11.8 169.6 -66.9 1.5Fidelity Overseas Fund (FOSFX) FO/LB 35.42 4 5 4 9.6 1.3 6.0 20.5 12.0 0.8 6.8 93.7 -60.2 2.1Fidelity Spartan Intl Index Inv (FSIIX) FO/XI 36.74 4 4 4 7.2 0.7 4.0 18.6 9.4 1.8 7.6 101.7 -57.2 2.5Fidelity Trend Fund (FTRNX) GL/LG 84.29 2 3 1 16.1 2.8 10.4 18.4 19.7 9.3 8.7 170.4 -53.0 0.5Fidelity Value Fund (FDVLX) GL/VL 91.48 1 3 2 19.8 1.4 10.0 28.5 19.3 7.3 8.9 216.4 -61.6 1.1Fidelity Worldwide Fund (FWWFX) GL/LG 23.12 ▼ 3 3 3 13.6 1.6 8.5 21.3 16.3 5.6 8.7 133.8 -53.1 0.7First Eagle Global Fund A (SGENX) Y GL/LB 51.89 3 2 3 6.8 0.4 4.1 12.0 12.0 7.8 10.9 99.5 -31.6 0.9First Eagle Overseas Fund A (SGOVX) Y FO/LB 22.89 ▼ 4 2 4 4.0 -0.1 1.9 11.3 9.2 6.7 10.8 83.2 -32.1 1.0First Inv Global A (FIISX) Y GL/LB 7.64 4 3 4 10.1 0.5 6.0 16.5 11.2 3.7 8.1 108.8 -45.8 0.4Harbor International Inv (HIINX) FO/LB 64.23 4 4 3 4.4 -0.6 2.3 15.6 10.4 3.1 10.2 118.9 -57.0 1.6Henderson International Opport A (HFOAX) Y FO/LB 23.33 4 4 4 8.9 1.5 7.3 20.1 9.6 3.2 8.7 90.5 -52.4 0.6ING International Value Equity A (NAWGX) Y GL/LB 28.02 4 3 3 5.6 0.4 4.4 13.0 4.5 5.9 9.0 102.1 -41.3 2.2ING Morgan Stanley Global Fran S (IVGTX) GL/LG 16.34 ▼ 3 2 2 7.4 -3.2 3.1 10.6 15.3 10.3 — 141.2 -40.4 2.0ING Oppenheimer Global Fd Init (IGMIX) GL/LG 16.39 3 3 3 10.3 -0.2 4.7 22.3 14.1 6.9 8.4 146.8 -53.1 1.3Invesco Global Sm & Mid-Cap Gr A (AGAAX) Y GL/SG 20.18 3 3 3 10.7 0.1 5.3 19.1 11.5 5.6 10.2 139.4 -58.2 0.7Invesco International Growth A (AIIEX) Y FO/LG 30.40 4 3 4 5.4 0.8 2.9 12.0 9.9 4.2 9.7 94.7 -51.0 0.9Ivy International Core Equity A (IVIAX) Y FO/LB 16.68 4 4 4 8.2 2.0 5.6 16.7 8.3 3.6 10.0 107.3 -53.2 1.2Janus Global Select D (JANRX) GL/LG 11.05 4 5 3 10.5 -1.0 3.5 22.9 4.7 -0.5 8.1 107.4 -57.4 0.5Janus Overseas Fund S (JIGRX) FO/LG 32.47 5 5 4 -4.6 -6.6 -4.4 12.5 -5.5 -4.5 8.9 50.3 -54.9 2.9Lazard Emerging Markets Eq Open (LZOEX) FO/EM 18.13 4 5 3 -9.5 -6.7 -10.5 0.0 1.9 1.9 14.3 124.6 -57.3 1.5Legg Mason Batterymarch Emg Mkts C (LMEMX) FO/EM 18.04 5 5 3 -13.2 -8.2 -12.6 -2.8 -3.3 -3.3 10.3 85.5 -65.6 0.9Longleaf Partners Intl Fd (LLINX) FO/LB 15.99 4 5 4 13.9 3.4 6.5 29.0 9.5 2.6 5.6 83.0 -52.9 1.4MFS Global Equity Fund A (MWEFX) Y GL/LG 31.02 2 3 3 12.1 0.2 5.3 21.7 16.7 7.7 9.8 146.5 -48.2 0.8







S E P T E M B E R 2 0 1 3 2 5


0 0 0 0 39 10 0 0 31 0 1 1 - 92 None 1.36 1000 Richard Pell 4/95 0.4 800 387-6977 15 46 0 9 5 0 3 17 0 0 - - - 97 None 2.01 1000 Team Managed - - 888 852-3922 0 0 0 0 46 6 0 ▲ 28 ▼ 0 0 1 - 1 97 None 1.15 10000 Brian Brady 4/94 -0.1 800 345-2021 0 0 0 0 71 0 0 0 20 0 1 - - 98 None 0.45 2500 Rajesh Gandhi 12/02 -1.1 800 345-2021 27 0 0 0 39 6 0 ▲ 13 11 0 5 2 0 88 None 1.61 250 Team Managed - - 800 421-0180

▲ 10 0 0 0 62 20 0 0 0 0 6 1 - 88 5.75 0.86 250 Team Managed - - 800 421-0180▼ 47 0 8 0 12 0 0 0 26 0 10 - - 90 5.75 0.87 250 Team Managed - - 800 421-0180▼ 42 9 0 0 35 0 0 0 ▲ 10 0 5 0 0 90 5.75 0.80 250 Team Managed - - 800 421-0180

13 0 0 0 18 27 0 ▲ 14 ▼ 20 0 7 12 0 76 5.75 1.08 250 Team Managed - - 800 421-0180 29 0 21 0 7 10 0 0 25 0 7 0 0 87 5.75 1.14 250 Team Managed - - 800 421-0180 0 0 0 0 39 11 0 ▲ 32 ▼ 0 0 1 - - 91 None 1.31 1000 Richard Pell 5/05 -2.1 800 387-6977 9 0 0 0 63 0 0 0 19 0 2 - - 98 None 1.20 1000 Team Managed - - 800 344-1770 22 0 0 0 66 0 0 0 0 0 11 - - 87 None 1.15 1000 N. David Samra 9/02 6.7 800 344-1770 0 7 0 0 9 28 0 0 0 29 5 4 1 93 5.25 1.56 1000 William Landers 9/02 3.6 800 441-7762 0 0 0 0 55 12 0 0 26 0 1 - - 98 5.25 1.13 1000 Robert Weatherston 12/08 -4.6 800 441-7762 0 0 0 0 38 17 1 ▲ 27 ▼ 0 8 2 - - 98 None 0.92 2000 Louis J. Mendes 5/03 3.4 800 345-6611 0 6 0 0 88 0 0 0 0 0 0 - - 85 5.75 1.43 2000 Team Managed - - 800 345-6611 0 18 0 0 76 0 2 0 0 0 12 - - 88 None 0.30 0 Team Managed - - 888 576-1167 30 0 8 8 22 6 1 0 20 0 12 2 - 96 None 1.24 2500 Oliver Kratz 11/03 0.0 800 621-1048 0 8 0 ▼ 0 ▲ 12 30 0 0 0 22 13 - - 98 None 1.50 2500 Rainer Vermehren 12/09 -0.1 800 621-1048 0 12 0 0 51 ▼ 10 0 0 ▲ 17 0 1 - - 98 None 0.64 2500 Team Managed - - 800 621-3979

▼ 9 9 0 0 40 0 0 16 ▲ 19 0 3 - - 98 5.75 1.17 1000 Team Managed - - 800 782-6620 0 0 0 0 0 ▲ 45 0 0 ▼ 0 0 0 - - 98 5.75 1.88 1000 Christopher Darling 3/07 -6.4 800 262-1122 0 28 5 0 36 0 0 ▼ 13 ▲ 14 0 0 4 - 96 None 1.93 1000 Team Managed - - 800 262-1122 46 26 6 0 0 0 0 9 12 0 1 - - 100 None 0.60 0 Harlan Carere 12/07 0.6 800 544-6666 0 0 4 0 62 0 0 0 28 0 11 0 - 97 None 1.00 2500 William Bower 2/09 -6.6 800 544-6666 28 27 22 8 0 0 1 ▲ 11 0 0 5 - - 98 None 0.90 2500 Tom Allen 8/04 1.3 800 544-6666 95 0 0 0 3 0 0 0 0 0 4 0 0 96 None 0.70 2500 William Danoff 7/03 2.8 800 544-6666 0 36 0 0 15 10 4 0 0 15 13 - - 98 None 0.84 2500 Douglas Lober 9/08 -6.1 800 544-6666 0 0 0 0 0 66 0 0 0 0 1 - - 99 None 1.03 2500 Bobby Bao 10/11 - 800 544-6666 0 0 4 0 62 0 0 0 29 0 14 0 - 94 None 0.94 2500 William Bower 4/01 1.6 800 544-6666 0 0 0 0 55 0 0 0 36 0 9 - - 98 None 1.06 2500 Melissa Reilly 11/08 -5.6 800 544-6666 0 0 3 0 53 0 0 ▲ 14 ▼ 22 0 9 0 - 95 None 1.02 2500 William Kennedy 10/04 0.6 800 544-6666 0 0 0 5 37 0 1 0 ▼ 29 9 8 - - 95 None 1.42 2500 Jed Weiss 12/08 0.7 800 544-6666 0 0 0 0 83 0 0 0 0 0 8 - - 96 None 0.95 2500 Rie Shigekawa 5/11 -2.1 800 544-6666 0 0 0 0 ▲ 10 40 0 0 0 29 5 - - 97 None 1.03 2500 Adam Kutas 2/09 -1.5 800 544-6666 34 0 37 0 0 0 0 ▲ 12 14 0 4 - - 99 None 0.65 2500 John Roth 2/11 4.2 800 544-6666 0 0 0 0 29 0 2 0 33 7 16 - - 100 None 1.05 2500 Per Johansson 4/11 -4.5 800 544-6666 0 0 0 0 ▲ 69 0 0 0 ▼ 23 0 5 - - 99 None 1.02 2500 Ian Hart 1/06 -2.1 800 544-6666 0 0 0 0 74 0 0 0 23 0 3 0 - 98 None 0.20 2500 Team Managed - - 800 544-6666 98 0 0 0 0 0 0 0 0 0 2 - - 99 None 0.89 2500 Daniel Kelley 1/12 - 800 544-6666 14 49 8 7 0 0 1 0 ▲ 13 5 3 0 1 95 None 0.60 2500 Team Managed - - 800 544-6666 40 0 12 0 23 0 0 0 21 0 6 0 0 96 None 1.12 2500 Ian Hart 1/06 0.5 800 544-6666 0 ▲ 27 0 0 36 0 6 0 22 0 - 21 - 75 5.00 1.30 2500 Team Managed - - 800 334-2143 0 0 0 0 41 0 7 0 ▼ 22 ▲ 11 - 24 - 71 5.00 1.35 2500 Team Managed - - 800 334-2143 11 21 0 0 28 0 0 ▲ 17 ▼ 15 0 - 2 - 97 5.75 1.68 1000 Team Managed - - 800 423-4026 0 0 0 0 89 9 0 0 0 0 15 - - 96 None 1.12 2500 Team Managed - - 800 422-1050 0 0 0 0 75 8 0 0 0 0 2 - - 98 5.75 0.82 500 Team Managed - - 866 443-6337 0 0 0 3 94 0 0 0 0 0 1 - - 99 5.75 1.80 1000 Andrew Thelen 4/12 - 800 992-0180 0 0 0 0 62 0 0 22 0 0 2 - - 97 None 1.21 0 Team Managed - - 800 992-0180 32 0 7 0 51 6 0 0 0 0 5 - - 99 None 0.76 0 Rajeev Bhaman 8/04 0.3 800 992-0180 13 0 14 0 18 10 1 0 25 13 4 - - 96 5.50 1.39 1000 Team Managed - - 800 959-4246

▼ 0 0 9 0 63 14 0 0 0 9 10 - - 90 5.50 1.34 1000 Team Managed - - 800 959-4246 0 0 0 0 ▲ 81 6 0 0 ▼ 0 0 - 5 - 94 5.75 1.46 500 John C. Maxwell 2/06 0.5 800 777-6472 29 ▼ 11 7 0 25 4 0 19 0 0 0 - - 100 None 0.89 Closed John Eisinger 1/08 -5.1 877 335-2687 0 0 0 18 ▲ 26 37 0 0 0 0 3 - - 97 None 0.93 2500 Brent A. Lynn 1/01 0.0 877 335-2687 0 0 0 0 0 55 0 ▲ 18 20 0 2 - - 98 None 1.40 2500 Team Managed - - 800 823-6300 0 0 0 0 0 95 0 0 0 0 - - - 98 None 2.23 1000 David W. Lazenby 1/03 -1.2 800 822-5544 0 0 0 0 48 25 0 0 0 0 25 1 - 70 None 1.28 10000 Team Managed - - 800 445-9469 33 ▼ 0 ▲ 10 0 52 0 0 0 0 0 7 - 1 97 5.75 1.30 1000 David Mannheim 1/92 0.8 800 225-2606






2 6 S E P T E M B E R 2 0 1 3



MFS International Growth Fund A (MGRAX) Y FO/LG 25.86 4 3 3 3.2 -1.5 -0.1 12.6 9.6 4.3 9.2 114.2 -52.7 0.8MFS Intl Diversification A (MDIDX) Y FO/LB 14.98 4 3 3 5.5 -0.5 2.1 14.2 10.2 4.0 — 116.1 -53.9 0.9MFS Intl New Discovery A (MIDAX) Y FO/MG 25.65 3 3 2 7.0 -0.4 2.6 15.8 12.9 7.5 12.1 157.7 -54.6 1.0MFS Intl Value Fund A (MGIAX) Y FO/LV 30.82 ▼ 3 3 3 14.0 2.3 8.6 19.8 14.2 6.3 11.0 128.7 -48.8 1.4MainStay Intl Equity A (MSEAX) Y FO/LB 12.52 5 ▼ 4 5 5.9 0.9 3.8 11.3 6.1 2.2 6.9 56.0 -40.0 0.7Manning & Napier International (EXITX) FO/LV 8.98 4 ▼ 4 4 3.2 -1.3 1.7 14.0 6.9 4.0 8.1 90.4 -45.2 1.2MassMutual Premier Intl Equity S (MIEDX) FO/LG 14.96 3 4 3 11.4 3.0 6.6 22.4 14.1 6.4 10.7 134.3 -53.8 1.3Matthews Asian Growth & Income Fd (MACSX) PB/LV 18.29 3 2 3 -0.4 -4.9 -3.9 9.6 7.9 8.0 12.2 114.7 -38.1 2.7Matthews Korea Fund (MAKOX) PB/NJ 5.42 4 5 ▼ 3 -3.9 -1.6 -3.0 10.1 11.0 10.1 11.5 194.8 -67.4 0.0Mutual European A (TEMIX) Y EU/LV 23.28 4 3 4 12.4 2.2 8.3 21.8 10.2 4.3 9.6 79.4 -42.7 2.5Mutual Global Discovery Z (MDISX) GL/LB 32.63 3 2 3 13.9 0.6 7.8 18.6 12.0 7.1 10.4 79.0 -31.2 1.6Northern Intl Growth Equity (NOIGX) FO/LB 8.93 4 4 ▲ 4 8.6 0.8 4.3 22.9 8.9 2.0 7.4 94.1 -55.2 1.5Nuveen International Value A (NAIGX) Y FO/LV 22.60 5 3 5 7.0 2.4 6.4 12.8 1.4 -0.5 7.0 49.5 -44.0 3.4Oakmark International I (OAKIX) FO/LV 24.20 3 4 3 15.6 1.7 9.2 35.6 14.6 10.7 11.1 191.2 -54.9 1.8Oakmark International Small Cap I (OAKEX) FO/SB 16.11 3 4 3 15.2 5.2 9.7 28.8 11.5 7.8 11.6 176.9 -60.1 1.2Oppenheimer Developing Mkts A (ODMAX) Y FO/EM 33.94 4 4 3 -3.8 -4.6 -4.7 5.7 5.2 6.2 16.3 159.9 -57.3 0.4Oppenheimer Global Fund A (OPPAX) Y GL/LG 71.04 3 3 3 10.1 -0.2 4.4 21.8 13.5 6.2 8.7 140.6 -53.6 0.8Oppenheimer Global Opportunities A (OPGIX) Y GL/LG 35.27 ▲ 3 4 3 20.6 7.0 17.8 23.4 13.1 9.6 11.2 169.8 -54.5 0.9Oppenheimer Intl Growth A (OIGAX) Y FO/LG 34.25 3 3 3 10.9 2.8 6.1 21.7 14.1 6.3 10.6 132.3 -53.9 1.0Putnam International Capital Opp A (PNVAX) Y FO/MB 35.34 4 5 3 7.5 1.3 3.1 17.9 9.7 3.6 10.1 135.1 -62.2 1.0Putnam International Growth A (PINOX) Y FO/LG 16.81 4 4 4 5.5 -1.5 2.6 16.2 8.6 3.5 8.0 107.4 -56.2 0.4SSgA Emerging Markets (SSEMX) FO/EM 18.48 5 5 3 -10.9 -6.6 -11.1 0.5 0.4 -0.1 11.2 101.4 -65.5 1.7Scout International Fund (UMBWX) FO/LG 33.77 4 ▼ 4 4 2.2 -1.8 0.6 12.8 8.9 3.4 9.1 105.6 -49.8 1.8Sentinel International Equity A (SWRLX) Y FO/LB 17.92 4 4 4 8.7 1.7 5.2 18.1 7.6 2.5 7.2 102.0 -56.3 0.7Sextant International Fund (SSIFX) FO/LB 14.81 5 2 5 -2.9 -3.3 -3.1 3.8 2.4 1.3 8.4 46.3 -36.3 0.9Strategic Global Stock I (DGLRX) FO/GW 16.70 3 2 3 7.1 0.9 3.8 14.9 13.6 7.0 — 106.8 -38.3 0.7T. Rowe Price Emerg Europe & Mdtr (TREMX) FO/EM 17.85 5 5 3 -8.3 -9.1 -9.4 -0.3 -1.0 -5.1 10.7 189.3 -76.1 0.7T. Rowe Price Emerging Mkts Stk (PRMSX) FO/EM 29.68 5 5 3 -12.9 -10.0 -11.6 -2.1 0.3 -0.1 11.4 127.8 -68.2 0.5T. Rowe Price European Stock (PRESX) EU/LB 18.37 3 5 3 14.5 3.6 9.9 26.0 15.9 5.7 9.5 135.6 -56.2 1.5T. Rowe Price Global Stock (PRGSX) GL/LG 20.71 4 4 4 13.2 2.7 7.7 21.4 11.9 0.5 7.5 120.5 -61.0 0.6T. Rowe Price Intl Discovery (PRIDX) FO/MG 50.11 3 3 3 8.7 0.4 3.4 19.7 12.6 6.8 12.4 161.8 -60.7 1.0T. Rowe Price Intl Gr & Inc Fd (TRIGX) FO/LV 14.01 4 4 4 8.1 0.9 4.6 18.2 9.5 2.4 8.1 111.8 -59.0 2.1T. Rowe Price Intl Stock Fd (PRITX) FO/LG 14.69 4 4 3 2.0 -1.7 -0.3 11.5 7.9 2.9 7.3 125.3 -58.7 1.2T. Rowe Price Japan Fund (PRJPX) PB/JP 9.32 3 3 4 16.6 2.1 10.4 23.2 11.2 1.8 4.9 83.9 -50.7 0.7T. Rowe Price Latin America (PRLAX) FO/LA 30.08 5 5 3 -20.9 -15.1 -20.2 -13.0 -7.6 -3.4 16.3 87.6 -61.7 1.5T. Rowe Price New Asia Fd (PRASX) PB/NJ 15.32 4 4 3 -8.9 -8.1 -9.9 1.8 3.8 8.6 14.1 184.2 -67.5 1.0T. Rowe Price Overseas Stock (TROSX) FO/GW 9.12 4 4 4 7.3 1.3 4.7 17.3 10.7 3.2 — 116.3 -58.2 1.8Templeton Developing Markets A (TEDMX) Y FO/EM 21.27 4 5 3 -9.9 -8.4 -14.0 -0.2 1.2 1.3 10.2 111.1 -63.0 1.7Templeton Foreign A (TEMFX) Y FO/LV 7.67 4 5 3 11.6 2.3 9.7 25.2 11.0 4.4 7.7 125.6 -56.5 1.8Templeton Global Balanced Fund A1 (TINCX) Y GL/LV 2.97 4 3 4 6.2 -1.5 2.6 14.5 10.4 7.2 — 87.9 -33.6 4.1Templeton Global Opport Trust A (TEGOX) Y GL/LV 20.69 4 4 4 10.5 0.9 7.2 21.8 12.1 3.2 8.4 104.8 -54.5 1.4Templeton Growth A (TEPLX) Y GL/LV 22.13 3 4 3 13.9 0.9 9.0 25.0 15.3 4.6 6.2 129.8 -57.4 1.5Templeton World A (TEMWX) Y GL/LV 18.02 3 4 3 14.5 1.1 9.5 24.8 15.3 5.9 7.1 125.2 -52.0 2.2Thornburg International Value A (TGVAX) Y FO/LG 28.35 5 3 4 3.9 -1.4 1.8 12.6 7.1 2.3 9.0 87.5 -53.3 0.8Tocqueville Intl Value Fund (TIVFX) FO/LV 13.14 4 3 3 5.3 0.3 4.0 17.6 9.2 5.2 8.8 107.2 -49.2 1.3Tweedy Browne Global Value (TBGVX) FO/LV 25.65 2 2 3 10.4 0.2 3.9 17.0 12.1 7.8 9.3 121.7 -47.1 1.2US Global Accolade Holmes Growth (ACBGX) GL/GW 22.19 4 3 ▲ 3 19.9 5.0 13.6 17.1 14.3 2.9 6.4 108.6 -56.2 0.0USAA International Fund (USIFX) FO/LG 27.34 4 4 4 4.9 0.2 2.1 17.3 11.0 4.6 9.2 112.9 -50.1 1.2Universal Global Franchise II (UGIIX) GL/GW 16.50 ▼ 3 2 2 7.8 -3.2 3.1 10.6 15.3 10.4 11.0 142.5 -40.4 2.6Vanguard Developed Markets Index Fd (VDMIX) FO/LB 10.46 4 4 4 7.3 0.9 4.2 18.4 9.4 1.9 7.6 101.4 -57.3 3.1Vanguard Emerging Mkts Stk Idx AD (VEMAX) FO/EM 31.62 5 5 3 -12.8 -8.2 -11.8 -1.9 0.2 1.3 — 111.5 -62.6 3.9Vanguard European Stock Index Inv (VEURX) EU/XI 27.43 4 5 4 8.0 1.4 6.2 20.1 10.4 1.5 8.0 109.3 -59.7 4.8Vanguard Global Equity Fund (VHGEX) GL/LV 20.76 3 3 3 11.2 -0.4 5.6 19.9 13.4 4.0 8.2 141.2 -60.9 1.6Vanguard International Growth Inv (VWIGX) FO/LB 20.42 4 4 3 6.0 0.3 3.0 17.5 9.8 3.7 8.7 122.0 -57.0 1.6Vanguard International Value Fund (VTRIX) FO/LV 33.12 ▲ 4 4 4 6.2 0.6 3.9 19.1 8.5 1.7 8.2 97.1 -55.9 2.4Vanguard Tax-Managed Intl Fd (VTMGX) FO/LB 11.87 4 4 4 7.5 0.8 4.3 18.8 9.4 2.0 7.7 101.3 -57.1 4.4Vanguard Total Intl Stock Index Fd (VGTSX) FO/XI 15.10 5 4 4 2.3 -1.0 0.3 13.1 6.9 1.5 8.0 100.3 -58.5 4.1Virtus Emerging Mkt Opp C (PICEX) FO/EM 8.54 ▼ 4 3 2 -13.0 -13.8 -12.5 -6.0 4.1 5.1 — 123.8 -53.9 0.0Wanger International Small Cap (WSCAX) FO/SG 30.59 4 3 3 7.5 -0.9 3.2 16.1 6.8 4.8 12.0 123.1 -57.9 2.7William Blair Intl Growth N (WBIGX) FO/LG 23.26 4 3 3 3.7 -2.3 0.7 14.1 9.3 2.8 8.2 126.2 -62.9 2.7







S E P T E M B E R 2 0 1 3 2 7


0 0 0 0 89 5 0 0 0 0 4 - - 98 5.75 1.32 1000 David A. Antonelli 1/10 -4.7 800 225-2606 0 0 0 0 80 8 0 0 0 7 0 - - - 5.75 0.33 1000 Thomas Melendez 10/04 1.4 800 225-2606 0 0 0 0 ▲ 62 9 0 0 ▼ 0 18 5 - - 95 5.75 1.36 1000 Team Managed - - 800 225-2606 0 0 0 0 86 0 0 0 0 0 6 - - 95 5.75 1.14 1000 Barnaby Wiener 10/03 3.6 800 225-2606 0 0 0 0 56 5 1 22 0 0 1 - - 98 5.50 1.42 25000 Edward Ramos 5/11 -6.4 800 624-6782 0 0 3 0 58 6 0 0 28 0 4 - - 97 None 1.10 2000 Team Managed - - 800 466-3863 0 0 0 8 84 0 0 0 0 0 3 - - 96 None 1.07 0 George R. Evans 10/94 -1.7 800 542-6767 0 0 0 0 15 29 0 0 39 0 - - 12 87 None 1.07 2500 Robert Horrocks 1/09 3.7 800 789-2742 0 0 0 0 8 ▼ 22 0 ▲ 31 0 0 - - - 98 None 1.16 2500 Michael Oh 1/07 0.5 800 789-2742 0 12 0 0 21 0 0 ▲ 30 ▼ 0 0 - 6 - 92 5.75 1.39 1000 Philipe Brugere Trelat 12/04 2.4 800 632-2301 0 44 0 0 19 0 0 ▲ 17 ▼ 12 0 - 14 - 85 None 1.00 1000 Team Managed - - 800 632-2301 0 7 0 0 85 5 0 0 0 0 - - - 96 None 1.06 2500 Douglas McEldowney 3/11 -6.0 800 595-9111 0 0 0 7 79 0 4 0 0 0 2 - - 99 5.75 1.47 3000 Alberto Jimenez Crespo6/09 -10.4 800 257-8787 0 0 0 0 83 0 0 0 0 0 5 - - 94 None 1.00 1000 David G. Herro 9/92 1.2 800 625-6275 0 0 0 0 47 0 2 0 0 18 5 - - 94 None 1.37 1000 David G. Herro 11/95 0.7 800 625-6275

▲ 12 0 0 0 7 58 0 ▲ 16 ▼ 0 0 6 0 - 93 5.75 1.33 1000 Justin Leverenz 5/07 5.2 800 225-5677 0 32 0 0 30 0 0 0 0 0 0 - - 100 5.75 1.17 1000 Rajeev Bahman 8/04 0.1 800 225-5677 22 0 37 0 21 0 0 0 0 0 1 - - 99 5.75 1.21 1000 Frank Jennings 10/95 3.4 800 225-5677 0 0 0 7 84 0 1 0 0 0 3 - - 96 5.75 1.26 1000 George R. Evans 3/96 1.1 800 225-5677 0 0 0 0 71 0 2 0 0 17 8 - - 99 5.75 1.42 500 Team Managed - - 800 225-1581 0 0 5 0 64 13 0 ▲ 13 0 0 2 - - 98 5.75 1.54 500 Jeffrey Sacknowitz 11/08 -6.5 800 225-1581 0 0 0 0 0 75 0 ▼ 0 ▲ 18 0 4 - - 100 None 1.25 1000 Chris Laine 1/07 -0.4 800 997-7327 0 0 0 3 56 0 1 ▲ 22 ▼ 13 0 6 - - 93 None 1.01 1000 Team Managed - - 800 996-2862 8 0 0 0 59 6 0 0 20 0 2 - - 98 5.00 1.46 1000 Katherine Schapiro 12/05 -0.8 800 282-3863 0 ▲ 19 0 0 46 14 4 0 0 11 - - - 90 None 1.10 1000 Nicholas Kaiser 9/95 -0.3 800 728-8762

▲ 32 ▼ 0 0 0 53 7 0 0 0 0 3 - - 97 None 0.93 1000 Team Managed - - 800 782-6620 0 0 0 0 0 24 0 0 46 0 1 - 0 99 None 1.39 2500 S. Leigh Innes 1/07 -2.7 800 225-5132 0 0 0 0 0 69 0 ▲ 26 ▼ 0 0 2 - - 96 None 1.24 2500 Leigh Innes 1/07 -0.2 800 225-5132 0 0 5 0 ▼ 66 0 0 ▲ 21 0 0 1 - - 99 None 0.98 2500 Gonzalo Pangaro 1/08 -0.5 800 225-5132 69 0 0 0 18 8 0 0 0 0 4 - - 100 None 0.93 2500 David J. Eiswert 10/12 - 800 225-5132 0 0 0 0 43 13 0 ▲ 28 ▼ 0 0 10 - 0 95 None 1.22 2500 Dean Tenerelli 1/05 1.3 800 225-5132 0 0 0 4 ▼ 82 0 0 ▲ 11 0 0 11 - 1 96 None 0.86 2500 Justin Thomson 12/98 -0.2 800 225-5132 7 0 0 4 55 17 0 ▲ 13 0 0 7 - 0 96 None 0.84 2500 Jonathan H.W. Matthews1/10 -6.5 800 225-5132 0 0 0 0 78 0 0 0 0 0 5 - - 95 None 1.09 2500 Robert W. Smith 1/07 2.8 800 225-5132 0 0 0 0 ▲ 16 37 0 0 0 22 5 - - 96 None 1.23 2500 Campbell Gunn 1/03 2.8 800 225-5132 0 0 0 0 0 ▲ 49 0 ▲ 29 ▼ 0 0 2 - - 97 None 0.93 2500 Anh Lu 12/09 3.5 800 225-5132 0 0 0 4 80 0 0 0 14 0 14 - - 96 None 0.86 2500 Raymond A. Mills 12/06 -3.2 800 225-5132 0 0 0 0 0 49 0 0 36 0 2 2 - 95 5.75 1.70 1000 Team Managed - - 800 632-2301 0 0 0 0 56 0 0 ▲ 29 ▼ 0 0 3 - - 96 5.75 1.20 1000 Team Managed - - 800 632-2301 0 13 0 0 ▲ 27 4 0 ▲ 38 ▼ 0 0 11 28 - 58 4.25 1.20 1000 Team Managed - - 800 632-2301 0 18 0 0 46 7 0 ▲ 21 ▼ 0 0 0 - - 98 5.75 1.35 1000 Team Managed - - 800 632-2301 0 19 0 0 44 0 0 ▲ 27 ▼ 0 0 2 - - 97 5.75 1.08 1000 Team Managed - - 800 632-2301 0 22 0 0 41 0 0 ▲ 29 ▼ 0 0 2 0 - 97 5.75 1.06 1000 Team Managed - - 800 632-2301 0 0 0 0 43 0 0 0 36 0 3 - - 96 4.50 1.26 5000 Connor Browne 12/06 -1.7 800 847-0200 0 0 0 0 61 0 2 0 0 16 4 - - 96 None 1.35 1000 James E. Hunt 7/01 3.0 800 697-3863 0 0 0 0 25 0 0 0 41 0 14 2 - 82 None 0.50 2500 Team Managed - - 800 432-4789 53 0 37 0 0 0 0 0 0 0 - 0 - 86 None 1.85 5000 Frank E. Holmes 6/04 -0.9 800 873-8637 0 0 0 8 75 0 0 0 0 10 1 - 1 98 None 1.21 3000 Marcus L. Smith 6/02 0.9 800 531-8181 0 0 4 0 52 0 0 ▲ 27 ▼ 0 0 2 - - 98 None 1.20 0 Team Managed - - 212 761-4000 0 0 0 0 - 0 0 0 0 0 5 - - 99 None 0.20 3000 Donald M. Butler 12/10 -5.1 800 662-7447 0 0 0 0 0 - 0 0 0 0 2 - - 99 None 0.16 10000 Michael Perre 8/08 0.9 800 662-7447

- - - - - - - - - - 7 - - 99 None 0.26 3000 Gerard C. O’Reilly 8/08 0.0 800 662-7447 26 7 9 0 36 7 0 0 13 0 5 - - 96 None 0.61 3000 Team Managed - - 800 662-7447 13 0 0 0 68 16 1 0 0 0 5 - - 96 None 0.48 3000 Team Managed - - 800 662-7447 0 0 5 0 73 9 0 0 11 0 8 - 0 96 None 0.43 3000 Team Managed - - 800 662-7447 0 0 0 0 - 0 0 0 0 0 0 - - 100 None 0.18 10000 Donald M. Butler 7/08 -4.2 800 662-7447 0 3 0 0 72 19 1 0 0 4 5 - 0 99 None 0.22 3000 Michael Perre 8/08 -0.4 800 662-7447 0 0 0 0 0 ▲ 56 0 ▲ 27 ▼ 0 0 3 - - 96 None 2.34 2500 Rajiv Jain 6/06 2.5 800 243-1574 0 0 0 0 39 16 1 ▲ 25 ▼ 0 9 2 - - 98 None 1.05 0 Christopher J. Olson 9/01 2.7 888 492-6437 0 0 0 0 47 7 0 ▲ 19 ▼ 0 11 - - - 97 None 1.44 2500 W. George Greig 7/96 1.5 800 742-7272






2 8 S E P T E M B E R 2 0 1 3


American Century Global Gold Inv (BGEIX) PM/LG 11.42 5 5 3 -36.4 -2.6 -22.0 -38.0 -17.1 -2.6 4.3 -7.9 -33.9 1.7American Century Utilities Inv (BULIX) UT/LV 16.60 3 2 3 11.8 -0.3 4.7 9.0 13.1 5.2 10.1 98.7 -41.1 3.3BlackRock Energy & Resources A (SSGRX) Y EN/MG 30.31 5 5 3 4.7 2.5 3.9 12.1 5.3 -6.0 12.8 94.7 -56.8 0.1BlackRock Health Sciences Opps A (SHSAX) Y HL/LG 39.74 1 2 3 26.5 4.0 15.3 32.2 22.2 12.1 13.3 145.7 -26.6 0.2Buffalo Discovery Fund (BUFTX) TC/LG 18.81 3 4 1 19.6 7.7 13.0 21.2 20.7 13.0 10.6 194.2 -47.9 0.2CGM Realty Fund (CGMRX) RE/MG 28.25 4 4 2 -3.3 -9.0 -5.8 -3.7 9.0 0.6 14.5 181.1 -64.0 1.1Cohen & Steers Realty Shrs (CSRSX) RE/MB 63.72 3 3 2 -0.1 -7.5 -4.6 0.3 11.5 5.8 10.2 236.0 -64.6 2.1Columbia Energy & Nat Resrc Fd Z (UMESX) EN/LB 21.19 5 5 4 4.3 0.9 1.1 5.8 7.7 -2.8 11.5 66.3 -47.3 0.5Columbia Seligman Comm/Info A (SLMCX) Y TC/LG 45.58 4 4 3 10.8 1.2 6.2 8.1 11.9 7.4 9.2 113.0 -39.9 0.0Eaton Vance WW Health Sciences A (ETHSX) Y HL/LG 10.89 2 2 3 23.6 3.9 14.3 24.3 17.8 9.8 8.3 104.5 -20.3 1.8Fidelity Real Estate Investment (FRESX) RE/MB 31.74 3 ▼ 4 1 -0.7 -8.0 -5.0 -0.4 12.8 5.8 9.4 269.6 -66.8 1.4Fidelity Select Biotechnology (FBIOX) HL/MG 161.18 1 4 3 46.6 10.2 33.8 50.5 40.7 19.2 13.1 224.6 -25.4 0.0Fidelity Select Consumer Staples (FDFAX) OT/LG 87.07 2 2 ▼ 3 11.7 -1.4 3.7 13.9 17.4 10.4 11.6 134.1 -32.5 1.4Fidelity Select Electronics (FSELX) TC/MG 55.70 3 5 3 22.0 2.9 11.8 18.9 17.4 8.7 4.3 172.2 -57.2 0.3Fidelity Select Energy Portfolio (FSENX) EN/LV 58.48 4 5 3 15.3 3.3 6.9 16.9 16.3 -0.2 13.2 120.7 -56.4 0.9Fidelity Select Energy Svcs (FSESX) EN/LG 79.45 4 5 3 19.1 4.6 7.3 17.6 15.9 -3.8 11.4 131.2 -64.5 0.0Fidelity Select Gold Portfolio (FSAGX) PM/LG 23.59 5 5 3 -36.2 -1.7 -23.2 -38.5 -18.4 -4.1 5.0 -16.9 -29.4 0.0Fidelity Select Medcl Equip & Sys (FSMEX) HL/MG 33.62 3 3 3 22.1 3.7 11.3 26.3 19.7 7.6 10.2 123.7 -28.0 0.1Fidelity Select Natural Resources (FNARX) EN/LB 36.15 ▲ 4 5 3 12.1 4.3 6.0 14.2 13.0 0.0 13.2 112.0 -55.3 0.2Fidelity Select Technology (FSPTX) TC/LG 114.88 3 4 2 14.4 5.0 11.3 12.2 16.6 11.0 7.9 211.4 -59.3 0.0Fidelity Select Utilities (FSUTX) UT/LV 62.88 3 2 3 11.0 0.9 3.0 12.5 13.0 5.2 9.8 104.4 -45.1 0.6Fidelity Telecom/Utilities Fd (FIUIX) UT/LV 20.05 3 2 3 8.8 0.6 4.5 10.8 14.1 6.3 9.3 108.1 -44.6 2.3Franklin Gold & Prec Metals A (FKRCX) Y PM/MG 19.71 5 5 3 -35.8 2.3 -23.0 -35.9 -19.5 -3.2 7.0 -5.3 -37.7 0.2Franklin Natural Resources A (FRNRX) Y EN/LB 34.09 5 5 3 3.0 2.0 -0.1 5.4 6.0 -1.6 11.4 91.4 -54.9 0.0Franklin Utilities A (FKUTX) Y UT/LV 14.57 3 2 3 8.7 -0.7 1.7 8.4 13.2 6.4 10.6 101.5 -34.8 3.3Gabelli Gold Fund AAA (GOLDX) PM/LG 14.15 5 5 3 -35.7 0.7 -21.4 -36.4 -15.8 -2.8 6.3 -6.1 -35.6 0.0Gabelli Utilities AAA (GABUX) UT/MV 5.42 3 2 3 10.2 0.7 4.4 11.8 11.3 6.4 9.3 96.8 -33.5 14.6Hennessy Gas Utility Index Fund (GASFX) UT/MV 24.95 2 2 2 14.3 1.2 6.4 13.4 18.4 9.4 12.2 149.6 -38.6 2.3ICON Energy S (ICENX) EN/LV 21.90 4 5 3 15.6 -0.5 2.9 17.9 15.4 3.0 14.5 98.9 -42.4 1.2Invesco Energy Inv (FSTEX) EN/LB 42.34 ▲ 4 5 4 13.5 1.8 5.4 13.8 11.8 -0.5 13.2 88.7 -49.1 0.0Invesco Gold & Prec Met Inv (FGLDX) PM/LG 5.32 5 5 3 -30.0 -1.1 -18.2 -32.0 -13.4 -1.5 7.6 8.7 -33.9 0.0Invesco Utilities A (IAUTX) Y UT/LV 17.63 3 1 3 12.1 0.9 6.5 11.6 12.7 4.5 10.5 94.1 -41.8 2.9Ivy Global Natural Resources A (IGNAX) Y EN/LB 17.15 5 5 4 1.1 -1.0 -3.3 5.7 1.8 -6.9 8.6 65.0 -63.0 0.2JPMorgan Realty Income A (URTAX) Y RE/MB 11.26 3 ▼ 4 2 -1.8 -7.9 -5.0 -1.7 12.1 3.7 — 240.0 -66.8 1.6Janus Global Life Sciences D (JNGLX) HL/LG 40.17 1 3 3 34.1 8.8 22.5 40.5 27.4 12.5 11.4 172.9 -35.9 0.0MFS Utilities Fund C (MMUCX) UT/LV 20.16 2 2 2 9.9 0.6 4.4 15.3 14.3 6.4 12.9 126.2 -45.5 1.9Meeder Utilities & Infrastructure (FLRUX) UT/LV 28.18 3 2 3 17.0 2.6 8.0 17.9 12.1 4.5 9.2 109.9 -45.4 0.5Oppenheimer Gold & Spec Min A (OPGSX) Y PM/MG 19.86 5 5 3 -37.0 0.1 -21.6 -39.5 -18.7 -3.2 8.5 10.1 -45.9 0.0Prudential Jennison Health Scien Z (PHSZX) HL/MG 40.18 1 3 2 36.0 6.9 23.0 35.3 33.3 17.6 16.7 224.2 -34.3 0.1Prudential Jennison Nat Resources A (PGNAX) Y EN/LG 46.57 5 5 3 3.3 2.6 1.1 4.9 3.0 -1.8 13.5 88.0 -56.2 0.0Prudential Jennison Utility A (PRUAX) Y UT/MV 13.17 2 2 2 12.9 1.3 6.7 17.0 16.0 4.3 12.5 136.7 -54.6 3.3Putnam Global Health Care A (PHSTX) Y HL/LG 55.14 2 3 3 23.9 3.9 15.9 30.5 18.4 8.6 8.0 115.6 -27.6 0.0Putnam Global Utilities A (PUGIX) Y UT/LV 11.08 4 2 5 8.7 0.2 5.4 9.8 4.4 -1.5 6.3 46.7 -42.8 2.3RS Global Natural Resources A (RSNRX) Y EN/LG 35.92 5 5 3 -1.9 -5.5 -3.3 1.1 7.1 0.5 12.1 101.7 -53.2 0.0Schwab Health Care Fund (SWHFX) HL/LG 22.61 1 2 2 22.7 2.6 12.0 28.1 24.0 11.4 13.0 155.6 -36.2 1.3T. Rowe Price Health Sciences (PRHSX) HL/MG 54.22 1 3 1 31.5 7.6 20.4 34.6 33.4 17.0 14.5 229.4 -35.7 0.2T. Rowe Price Media & Telecomm (PRMTX) TC/LG 63.83 2 3 1 19.8 7.2 15.1 22.3 22.4 14.9 16.5 242.3 -54.0 0.4T. Rowe Price New Era (PRNEX) EN/LG 44.51 5 5 4 6.2 0.7 2.2 10.1 7.5 -2.4 10.6 87.7 -54.9 1.1T. Rowe Price Real Estate (TRREX) RE/MB 20.64 3 3 2 -0.8 -7.2 -3.9 -0.8 12.1 5.0 9.8 257.0 -66.9 2.2T. Rowe Price Science & Tech Fd (PRSCX) TC/LG 32.95 3 5 3 21.1 5.7 15.2 22.5 16.0 8.6 6.9 165.1 -51.7 0.0Tocqueville Gold Fund (TGLDX) PM/MG 41.95 5 5 3 -34.0 0.2 -19.5 -36.1 -14.4 3.2 8.5 27.4 -37.7 0.0US Global Inv Global Resources (PSPFX) EN/LV 9.41 5 5 3 -3.9 -1.4 -5.5 0.2 6.5 -2.9 13.3 99.6 -65.3 2.2US Global Inv World Prec Mnrls (UNWPX) PM/MG 7.31 5 5 3 -37.5 0.0 -23.1 -37.7 -20.7 -7.6 6.3 -7.9 -56.2 0.0USAA Precious Metals&Minerals (USAGX) PM/LG 16.97 5 5 3 -36.8 1.7 -21.7 -38.3 -19.0 -3.0 8.7 -5.5 -30.6 0.0Van Eck Global Hard Assets A (GHAAX) Y PM/LG 44.75 5 5 3 2.5 2.5 1.0 6.1 6.7 -0.9 14.0 77.3 -47.3 0.5Van Eck Intl Investors Gold A (INIVX) Y PM/MG 11.34 5 5 3 -32.5 2.0 -16.0 -35.3 -16.1 -0.1 9.3 7.8 -33.4 0.0Vanguard Precious Metals & Mining (VGPMX) PM/MG 11.02 5 5 3 -30.9 -8.0 -22.9 -26.0 -14.0 -11.5 6.2 23.6 -64.0 3.5Vanguard REIT Index Inv (VGSIX) RE/MB 21.45 3 3 2 -0.2 -7.9 -4.9 0.4 12.6 5.5 9.5 246.9 -64.5 3.5Wells Fargo Adv Precious Metals A (EKWAX) Y PM/LG 43.00 5 5 3 -33.2 -0.5 -19.8 -34.5 -15.8 -1.2 9.0 -2.2 -29.6 0.0Wells Fargo Adv Utility & Telecom A (EVUAX) Y UT/MV 15.61 3 2 3 10.1 0.5 3.6 11.9 15.1 5.6 12.4 93.9 -38.8 2.3

SPECIAL EQUITY







S E P T E M B E R 2 0 1 3 2 9

- - - - - - - - - - 3 - - 97 None 0.68 2500 William Martin 6/92 -7.6 800 345-2021▼ 0 ▲ 23 0 0 0 0 0 0 ▲ 21 18 1 - - 99 None 0.68 2500 William Martin 8/10 3.6 800 345-2021

0 ▲ 50 0 ▼ 12 0 0 5 0 0 0 4 - - 92 5.25 1.34 1000 Daniel Rice 2/05 -2.6 800 441-7762 75 0 0 0 0 0 0 0 0 0 7 - - 98 5.25 1.28 1000 Erin Xie 7/03 6.6 800 441-7762 47 0 43 0 0 0 0 0 0 0 2 - - 98 None 1.01 2500 Team Managed - - 800 492-8332 15 0 0 10 0 0 0 15 22 19 6 - - 99 None 0.91 2500 Ken Heebner 5/94 3.9 800 345-4048

▼ 0 0 0 9 4 0 0 ▼ 12 ▲ 22 18 - - - 98 None 0.97 10000 Team Managed - - 800 330-7348 0 54 0 0 22 0 8 0 0 0 0 - 1 99 None 1.07 2000 Team Managed - - 800 345-6611 49 0 22 0 8 0 0 0 0 0 2 - 0 99 5.75 1.37 2000 Team Managed - - 800 345-6611 54 0 0 0 0 0 0 0 19 0 - - - 100 5.75 1.44 1000 Team Managed - - 800 262-1122

▼ 0 0 0 9 5 0 0 ▼ 0 ▲ 28 21 3 - - 98 None 0.81 2500 Steve Buller 12/97 -1.4 800 544-6666 53 0 0 0 0 0 0 0 0 0 7 - 0 99 None 0.81 2500 Rajiv Kaul 10/05 7.3 800 544-6666 24 0 0 0 18 0 0 0 29 0 3 - - 98 None 0.81 2500 Robert Lee 6/04 4.7 800 544-6666 45 0 21 0 0 0 3 0 0 0 8 - 2 93 None 0.84 2500 Christopher Lin 1/09 -4.4 800 544-6666 0 70 0 ▼ 0 0 0 4 0 0 0 1 - - 99 None 0.83 2500 John Dowd 7/06 1.1 800 544-6666 0 ▲ 54 0 ▼ 10 0 0 2 0 0 0 4 - - 97 None 0.82 2500 John Dowd 7/06 -2.5 800 544-6666 6 0 0 0 0 0 67 0 ▲ 25 ▼ 0 16 - 0 95 None 0.93 2500 Joe Wickwire 8/07 -6.5 800 544-6666

▼ 61 0 ▲ 16 0 0 0 0 0 0 0 3 - 1 99 None 0.83 2500 Edward Yoon 5/07 4.1 800 544-6666 0 70 0 0 0 0 8 0 0 0 2 - - 98 None 0.86 2500 John Dowd 5/06 2.1 800 544-6666 63 0 13 0 0 7 0 0 0 0 2 - - 100 None 0.81 2500 Charlie Chai 1/07 4.2 800 544-6666

▼ 9 ▲ 12 0 0 0 0 0 0 22 16 1 - - 98 None 0.83 2500 Douglas Simmons 10/06 1.6 800 544-6666 22 0 0 0 0 0 0 0 24 17 4 - - 97 None 0.83 2500 Douglas Simmons 9/05 1.9 800 544-6666 15 0 0 0 0 14 64 0 0 0 1 - - 98 5.75 0.97 1000 Stephen M. Land 4/99 1.9 800 632-2301 0 ▲ 70 0 ▼ 0 0 0 11 0 0 0 5 - 0 94 5.75 1.08 1000 Stephen M. Land 4/99 6.8 800 632-2301

▼ 0 ▲ 15 0 0 3 0 0 0 22 18 1 2 - 97 4.25 0.75 1000 John Kohli 12/98 2.2 800 632-2301▼ 0 0 0 0 8 8 45 ▲ 36 0 ▼ 0 - - - 99 None 1.48 1000 Caesar M.P. Bryan 7/94 -5.8 800 422-3554▼ 0 ▲ 15 10 0 12 0 0 0 26 19 - 13 0 86 None 1.39 1000 Mario J. Gabelli 1/02 1.0 800 422-3554▼ 11 17 0 0 0 0 0 0 ▲ 27 15 1 - - 99 None 0.77 2500 Winsor H. Aylesworth 1/01 -0.4 888 888-0025

0 ▲ 70 0 ▼ 0 0 0 3 0 0 0 7 - - 98 None 1.24 1000 Derek Rollingson 5/07 4.6 800 828-4881 0 68 0 ▼ 0 0 0 4 0 0 0 3 - - 97 None 1.16 1000 Andrew Lees 1/08 -1.8 800 959-4246

▲ 17 0 0 ▼ 0 0 0 69 0 0 13 14 - - 88 None 1.32 1000 Andrew Lees 1/08 -5.4 800 959-4246▼ 27 ▲ 19 0 0 6 0 0 0 ▲ 16 14 7 - - 93 5.50 1.31 1000 Meggan Walsh 1/09 1.8 800 959-4246

0 ▲ 65 0 ▼ 0 0 0 12 0 0 0 4 - - 91 5.75 1.52 500 Frederick Sturm 1/97 1.2 800 777-6472▼ 0 0 0 9 5 0 0 ▼ 0 ▲ 28 22 2 - - 98 5.25 1.17 1000 Kay Herr 3/07 -1.9 800 480-4111▼ 57 0 ▲ 14 0 0 0 0 0 0 0 4 1 - 95 None 0.88 Closed Andrew Acker 5/07 7.1 877 335-2687

0 22 0 0 9 5 0 0 30 14 6 1 3 91 None 1.74 1000 Maura A. Shaughnessy 2/92 2.7 800 225-2606 15 15 8 0 ▲ 10 ▼ 0 0 0 ▲ 24 10 0 - - 100 None 1.89 2500 Lowell G. Miller 9/95 0.2 800 325-3539 0 0 0 ▼ 0 ▲ 10 10 78 0 0 0 0 - - 100 5.75 1.30 1000 Shanquan Li 7/97 -2.5 800 225-5677 59 0 0 0 0 0 0 0 0 0 15 - 0 97 None 0.88 0 David Chan 6/99 9.3 800 225-1852 0 ▲ 69 0 ▼ 0 0 0 8 0 0 0 10 - 1 96 5.50 1.20 2500 Team Managed - - 800 225-1852 16 ▲ 13 0 0 0 0 0 0 30 16 9 - - 99 5.50 0.85 2500 Shaun Hong 9/00 -0.9 800 225-1852 59 0 0 0 17 0 0 0 0 0 2 - - 99 5.75 1.22 500 Kelsey Chen 1/05 1.5 800 225-1581

▼ 0 ▲ 10 0 0 14 0 0 0 19 19 4 - - 94 5.75 1.26 500 Michael Yogg 1/00 -2.2 800 225-1581 0 50 0 ▼ 0 19 0 12 0 0 0 - - - 94 4.75 1.45 2500 Team Managed - - 800 766-3863 67 0 0 0 11 0 0 0 0 0 2 - - 97 None 0.82 100 Larry Mano 12/00 4.0 800 407-0256

▼ 59 0 ▲ 14 0 0 0 0 0 0 0 3 - 0 97 None 0.79 2500 Kris H. Jenner 1/00 7.7 800 225-5132 51 0 0 0 0 0 0 0 24 11 4 0 0 97 None 0.81 2500 Daniel Martino 10/09 8.1 800 225-5132 0 69 0 ▼ 0 8 0 7 0 0 0 2 0 - 97 None 0.65 2500 Timothy E. Parker 1/10 -10.5 800 225-5132

▼ 0 0 0 11 5 0 0 ▼ 0 ▲ 28 21 4 - 1 94 None 0.77 2500 David M. Lee 2/98 -0.4 800 225-5132▲ 61 0 17 0 0 0 0 0 0 0 6 - 2 90 None 0.87 2500 Kennard W. Allen 1/09 2.5 800 225-5132

0 0 0 0 0 0 63 0 ▲ 35 0 2 - 1 83 None 1.31 1000 John Hathaway 6/98 5.0 800 697-3863▲ 17 54 0 ▼ 0 0 0 16 0 0 0 - 3 0 84 None 1.57 5000 Team Managed - - 800 873-8637▲ 19 0 ▼ 0 0 0 0 75 0 0 0 - 5 0 81 None 1.45 5000 Frank E. Holmes 6/99 -0.3 800 873-8637

0 0 0 0 0 11 88 0 0 0 4 - - 95 None 1.18 3000 Dan Denbow 10/08 -16.6 800 531-8181 0 ▲ 69 0 ▼ 0 0 0 10 0 0 0 9 - - 90 5.75 1.38 1000 Team Managed - - 800 826-1223 19 0 0 0 0 0 78 0 0 0 3 - - 86 5.75 1.45 1000 Joseph M. Foster 7/96 -6.2 800 826-1223 0 36 0 0 20 0 21 0 0 0 7 - - 99 None 0.26 3000 Graham E. French 12/96 -4.8 800 662-7447

▼ 0 0 0 ▲ 10 5 0 0 ▼ 0 ▲ 29 22 1 - - 99 None 0.24 3000 Gerard C. O’Reilly 5/96 -1.0 800 662-7447 10 0 0 0 0 0 48 0 ▲ 23 ▼ 14 3 0 - 97 5.75 1.18 1000 Michael Bradshaw 1/07 -3.0 800 359-3379 9 ▲ 16 0 0 3 0 0 0 25 17 2 0 - 98 5.75 1.24 1000 Timothy P. O’Brien 12/02 4.5 800 359-3379

SPECIAL EQUITY






3 0 S E P T E M B E R 2 0 1 3


AllianceBernstein Bal Wlth Str A (ABWAX) Y AA/LB 12.74 4 2 ▼ 5 5.1 -0.7 2.3 9.5 8.7 4.6 5.5 91.8 -43.2 1.7AllianceBernstein Wlt Prs Stgy A (ABPAX) Y AA/LB 11.59 4 1 ▼ 5 1.6 -1.0 0.2 3.9 5.0 3.8 4.4 53.1 -26.3 1.6American Century Balanced (TWBIX) BA/LV 18.27 3 1 3 8.0 -0.5 4.1 9.6 12.5 6.6 6.5 89.3 -30.1 1.6Berwyn Income Fund (BERIX) FL/MV 14.10 3 1 4 8.3 1.7 6.5 11.9 8.5 9.0 7.8 77.3 -12.0 2.1BlackRock Global Allocation C (MCLOX) AA/GL 19.29 4 2 5 5.3 -0.6 2.8 8.7 7.0 4.2 7.9 63.4 -30.0 0.5Buffalo Flexible Income Fund (BUFBX) BA/LV 13.73 ▲ 2 1 3 10.1 -0.1 4.9 11.7 14.2 7.6 8.8 115.4 -36.0 2.6Caldwell & Orkin Mkt Opportunity (COAGX) AA/LS 21.55 3 1 4 1.0 -5.7 -3.9 3.8 3.5 1.4 3.3 8.4 -1.0 0.0Columbia Balanced Z (CBALX) BA/LB 31.78 3 2 3 11.2 0.6 6.0 14.2 13.8 8.4 7.7 107.5 -30.8 1.1Dodge & Cox Balanced Fund (DODBX) BA/LV 88.78 1 2 3 14.9 1.7 9.1 20.0 15.7 7.3 6.9 131.9 -45.8 1.4FPA Crescent Fund (FPACX) BA/LV 31.48 ▲ 2 2 3 12.2 0.9 7.0 15.8 12.8 7.6 8.5 95.9 -25.5 0.5Federated Capital Income Fund A (CAPAX) Y AA/LV 8.21 3 1 3 5.0 -1.3 2.4 8.1 9.8 7.4 7.6 86.6 -26.3 5.3Fidelity Asset Manager 20% (FASIX) BA/LB 13.23 3 1 4 1.6 -0.7 0.4 2.9 5.4 5.0 5.2 49.8 -16.8 1.4Fidelity Asset Manager 50% (FASMX) AA/LB 17.27 3 1 3 5.7 0.0 2.9 8.4 9.5 6.3 5.5 89.9 -34.8 1.3Fidelity Balanced Fund (FBALX) BA/LB 21.85 3 2 3 9.1 0.5 5.3 11.3 12.4 6.5 7.4 106.8 -40.5 1.5Fidelity Freedom 2000 Fund (FFFBX) AA/LB 12.37 ▼ 4 1 4 1.1 -0.8 0.1 2.5 5.0 4.0 4.2 45.6 -18.8 1.3Fidelity Freedom Income Fund (FFFAX) AA/LB 11.61 ▼ 4 1 4 1.2 -0.8 0.1 2.5 4.9 4.2 4.1 44.2 -16.2 1.2Fidelity Puritan Fund (FPURX) BA/LG 20.98 3 2 3 9.0 0.6 5.0 11.3 12.7 7.0 7.0 103.2 -37.9 1.6Franklin Templeton Conserv Allc A (FTCIX) Y AA/LG 14.19 4 1 4 3.0 -1.1 0.8 6.1 6.1 5.1 5.9 56.1 -21.9 2.0Goldman Sachs Income Builder A (GSBFX) Y BA/LV 21.59 3 1 3 9.0 0.1 4.5 13.5 12.8 8.3 7.2 110.0 -34.6 4.1Ivy Asset Strategy C (WASCX) FL/LG 27.57 ▲ 4 4 4 9.2 2.0 5.4 17.5 10.2 5.1 10.9 59.4 -25.4 1.3Ivy Balanced Fund A (IBNAX) Y BA/LG 22.47 3 2 3 11.7 1.4 6.1 12.9 14.4 7.7 7.7 94.4 -29.2 0.6J Hancock Balanced A (SVBAX) Y BA/LG 17.70 3 2 3 9.7 -0.1 4.9 12.5 11.0 5.8 8.7 86.1 -30.9 2.0J Hancock2 Lifestyle Aggr Port 1 (JILAX) AA/LB 14.39 2 3 3 11.6 0.9 6.5 17.6 14.0 5.1 — 133.3 -53.7 1.3J Hancock2 Lifestyle Growth Port 1 (JILGX) AA/LG 14.81 3 2 3 9.9 0.4 5.4 15.2 12.5 6.0 — 119.5 -47.3 1.8JPMorgan Diversified Fund A (JDVAX) Y BA/LB 15.83 3 2 3 7.0 -0.8 3.7 12.0 11.4 7.0 6.9 101.4 -36.0 1.7JPMorgan Investor Balanced Fund A (OGIAX) Y BA/LB 13.74 3 1 4 6.1 -0.8 3.2 8.6 9.0 6.0 6.2 75.7 -27.2 1.6JPMorgan Investor Conserv Gr A (OICAX) Y AA/LB 12.04 3 1 4 3.2 -1.1 1.4 4.8 6.3 5.6 5.2 54.7 -16.7 1.6James Balanced: Golden Rainbow Fd (GLRBX) FL/MV 22.59 3 1 ▼ 4 4.7 -2.3 0.6 7.2 8.1 6.5 7.7 65.4 -16.3 1.3Janus Balanced S (JABRX) BA/LG 28.43 3 2 4 9.1 0.1 5.1 8.3 8.0 5.5 6.7 58.1 -21.0 1.7Janus Moderate Allocation D (JNSMX) AA/LB 12.78 3 2 4 5.0 -1.3 1.7 9.3 8.6 6.3 — 84.8 -31.9 2.3Legg Mason Lifestyle Alloc 50% A (SBBAX) Y AA/LB 13.58 3 2 3 6.3 -0.5 3.0 9.5 10.6 7.3 5.4 102.5 -36.2 1.7MFS Conservative Alloc A (MACFX) Y AA/LG 13.87 3 1 4 2.9 -0.9 0.6 5.8 8.1 6.5 6.1 72.8 -23.1 2.0MainStay Balanced A (MBNAX) Y BA/LV 31.88 2 2 3 11.0 -0.2 4.9 14.7 12.5 7.1 — 104.5 -34.9 1.0Mairs & Power Balanced Fund (MAPOX) BA/LV 76.61 2 2 3 9.3 -0.6 3.6 14.3 14.2 8.9 8.1 117.6 -32.8 2.2Manning & Napier Pro-Bl Mod Term S (EXBAX) AA/LG 13.81 4 1 4 5.1 -0.3 2.1 8.2 8.5 5.4 6.7 69.7 -26.4 0.9Marsico Flexible Capital Fund (MFCFX) AA/LG 17.39 1 3 1 16.9 2.5 12.3 20.4 19.8 15.2 — 233.7 -47.4 0.5Oppenheimer Flexible Strategies A (QVOPX) Y FL/LG 24.32 4 1 5 3.7 -0.1 2.1 4.6 3.9 0.3 4.4 30.5 -23.4 0.0PIMCO All Asset A (PASAX) Y AA/VL 11.95 3 1 3 -3.9 -4.1 -4.6 1.0 5.3 5.6 6.6 72.6 -23.4 4.4PIMCO All Asset All Authority A (PAUAX) Y AA/VL 10.12 3 2 3 -7.4 -5.1 -7.3 -2.4 3.5 5.6 — 60.4 -15.3 5.5PIMCO StocksPlus Short Str D (PSSDX) AA/BM 3.00 5 2 5 -16.0 -3.0 -10.5 -16.6 -15.3 -5.7 — -52.7 90.3 0.6Permanent Portfolio Fund (PRPFX) AA/LB 47.20 4 2 3 -3.0 0.3 -2.7 -1.1 6.0 6.3 8.9 59.3 -15.1 0.5Putnam Asset Allocation: Growth Y (PAGYX) AA/LB 15.21 2 3 2 11.4 0.3 6.4 16.4 14.0 6.6 7.5 134.0 -49.4 1.2State Farm Balanced Fund (STFBX) BA/LB 58.42 4 1 4 5.4 -1.1 1.3 7.0 8.1 4.8 6.0 63.1 -24.8 2.7T. Rowe Price Balanced Fd (RPBAX) BA/LB 22.08 3 2 3 8.1 0.3 4.4 12.1 12.3 6.7 7.2 103.9 -37.8 1.9T. Rowe Price Retirement 2020 (TRRBX) AA 19.18 3 2 3 7.3 -0.3 3.6 11.8 12.3 6.5 7.4 116.8 -43.7 1.7T. Rowe Price Spectrum Growth (PRSGX) AA/LB 21.74 1 3 1 12.1 0.9 6.7 18.2 16.1 6.9 8.3 152.2 -52.8 1.1TETON Westwood Balanced Fd AAA (WEBAX) BA/LV 12.56 3 2 4 9.1 -0.1 5.5 12.3 10.8 4.5 6.5 72.1 -30.9 1.1Thornburg Investment Inc Builder A (TIBAX) Y AA/GL 19.38 3 2 4 4.1 -4.2 -0.4 8.8 7.1 5.1 7.5 93.5 -46.4 4.2USAA Cornerstone Mod Aggressive Fd (USCRX) BA/LB 23.84 3 2 ▼ 4 3.5 -1.4 0.9 8.3 7.8 4.6 5.8 100.9 -46.0 2.4USAA First Start Growth Fund (UFSGX) AA/LB 12.27 3 2 2 7.4 -1.0 3.3 12.8 11.5 7.7 6.0 122.4 -41.5 1.8USAA Growth & Tax Strategy (USBLX) BA/LB 15.12 3 1 3 4.8 -2.4 1.1 6.5 10.1 5.9 5.7 80.0 -31.1 2.4Vanguard Balanced Index Inv (VBINX) BA/LB 25.59 3 1 3 8.6 -0.1 4.4 10.5 12.3 7.0 6.8 96.7 -32.6 1.8Vanguard LifeStrategy Growth Fd (VASGX) AA/LB 25.20 3 2 3 9.3 0.1 4.8 13.6 12.7 5.2 6.8 115.1 -47.6 2.3Vanguard LifeStrategy Income Fd (VASIX) AA/LB 14.10 3 1 4 0.2 -1.4 -0.8 1.3 4.6 4.3 4.8 44.5 -15.4 2.0Vanguard LifeStrategy Mod Growth Fd (VSMGX) AA/LB 21.61 3 2 ▼ 4 6.2 -0.4 2.9 9.5 10.2 5.3 6.4 90.1 -37.9 2.2Vanguard Target Retiremt Income Fd (VTINX) AA/LB 12.26 3 1 4 1.4 -0.9 -0.1 2.9 6.7 5.4 — 55.4 -16.5 2.1Vanguard Tax-Managed Balanced Fd (VTMFX) BA/LB 23.29 3 1 3 5.8 -1.4 2.1 7.9 10.2 6.4 6.1 76.0 -25.2 2.2Vanguard Wellesley Income Inv (VWINX) FL/VL 24.60 3 1 3 3.6 -1.5 0.8 3.8 8.7 8.1 7.1 77.9 -18.9 2.9Vanguard Wellington Inv (VWELX) BA/LV 36.78 3 2 3 10.1 -0.1 5.4 13.3 12.7 7.6 8.2 101.7 -32.5 2.4Waddell & Reed Adv Cont Inc A (UNCIX) Y BA/LG 9.58 3 2 3 11.7 1.4 6.1 13.0 14.9 7.8 7.7 92.9 -28.3 1.0

PARTIAL EQUITY







S E P T E M B E R 2 0 1 3 3 1

17 11 0 6 17 3 0 21 15 7 - - - - 4.25 1.00 2500 Team Managed - - 800 221-5672 13 8 0 2 11 2 0 28 14 19 - - - - 4.25 1.03 2500 Team Managed - - 800 221-5672 28 26 4 0 3 0 0 11 0 25 3 38 - 60 None 0.91 2500 Team Managed - - 800 345-2021 22 0 0 14 16 7 0 ▲ 26 ▼ 0 0 23 41 - 37 None 0.64 3000 Team Managed - - 800 992-6757 14 26 0 0 32 0 2 0 23 0 19 21 0 59 None 1.90 1000 Team Managed - - 800 441-7762 10 25 0 0 8 0 0 ▼ 0 ▲ 39 7 25 18 3 53 None 1.02 2500 John Kornitzer 8/94 0.3 800 492-8332 21 0 0 11 0 0 0 ▼ 19 ▲ 17 0 36 - 0 61 None 2.11 25000 Team Managed - - 800 237-7073 28 25 0 0 7 0 0 14 10 12 10 34 0 63 None 0.88 2000 Team Managed - - 800 345-6611

▼ 0 ▲ 66 0 0 6 0 0 0 22 0 0 25 - 73 None 0.53 2500 Team Managed - - 800 621-3979 29 42 0 0 18 4 0 0 0 0 7 34 0 54 None 1.13 1500 Steven T. Romick 6/93 4.0 800 982-4372

▼ 0 ▲ 12 5 0 6 0 0 18 42 8 - 5 9 36 5.50 1.02 1500 Team Managed - - 800 341-7400 13 8 2 0 6 0 0 0 20 46 21 0 - - None 0.53 2500 Geoff Stein 6/09 3.5 800 544-6666 20 12 4 0 12 0 0 0 23 27 1 0 - - None 0.68 2500 Geoff Stein 6/09 3.0 800 544-6666 35 31 0 0 0 0 0 8 7 18 4 20 0 67 None 0.58 2500 Team Managed - - 800 544-6666 10 0 8 0 9 0 0 0 25 43 40 - - - None 0.45 2500 Christopher Ssharpe 9/07 1.7 800 544-6666 12 4 0 4 8 0 0 7 19 41 40 - - - None 0.45 2500 Christopher Sharpe 9/07 2.1 800 544-6666 41 23 0 0 0 0 0 13 6 15 2 24 0 67 None 0.58 2500 Team Managed - - 800 544-6666 9 5 0 5 9 2 0 24 29 12 2 - - 2 5.75 0.55 1000 T. Anthony Coffey 12/03 0.6 800 632-2301 7 19 0 0 5 4 0 ▲ 11 49 0 2 46 1 50 5.50 1.00 1000 Team Managed - - 800 526-7384 25 0 0 ▼ 0 18 ▼ 5 2 0 ▲ 31 0 14 5 - 72 None 1.70 500 Michael L. Avery 1/97 4.1 800 777-6472 49 ▲ 40 0 0 8 0 0 ▼ 0 0 0 12 17 - 73 5.75 1.20 500 Cynthia P. Prince Fox 5/03 1.4 800 777-6472 26 24 0 0 9 0 0 9 ▲ 14 14 2 30 0 69 5.00 1.18 2500 Team Managed - - 800 225-5291 39 14 7 2 17 7 0 9 4 0 - - - - None 0.12 0 Team Managed - - 800 225-5291 34 13 8 0 12 6 0 5 16 4 - - - - None 0.11 0 Team Managed - - 800 225-5291 24 11 0 5 14 6 0 11 17 11 4 23 - 56 4.50 1.02 1000 Team Managed - - 800 480-4111 26 21 2 0 2 3 0 10 20 13 1 - - - 4.50 0.50 500 Team Managed - - 800 480-4111 19 19 0 2 0 2 0 13 19 23 2 - - - 4.50 0.50 500 Team Managed - - 800 480-4111 19 20 0 10 0 0 0 0 0 44 5 42 - 52 None 1.05 2000 Team Managed - - 888 995-2637 27 21 0 0 6 0 0 ▼ 22 ▲ 11 7 2 41 - 58 None 1.08 2500 Gibson Smith 5/05 1.0 877 335-2687 21 0 0 8 28 9 0 0 19 12 - - - - None 0.25 Closed Daniel G. Scherman 1/06 2.1 877 335-2687 13 18 0 6 9 0 0 12 22 18 0 - - - 5.75 0.55 1000 Team Managed - - 800 822-5544 11 6 4 0 11 0 0 19 24 22 0 - - - 5.75 0.32 1000 Joseph C. Flaherty Jr. 6/02 0.9 800 225-2606 12 37 8 0 0 3 0 19 0 19 1 37 0 60 5.50 1.17 25000 Team Managed - - 800 624-6782 15 36 0 0 2 0 0 ▼ 0 16 24 5 34 - 60 None 0.74 2500 William B. Frels 1/92 2.5 800 304-7404 13 9 0 4 13 3 0 13 11 29 3 57 - 42 None 1.07 2000 Team Managed - - 800 466-3863 62 0 0 0 0 0 0 0 31 0 7 5 - 85 None 1.40 2500 Jordon Laycob 7/12 - 888 860-8686 36 28 0 0 0 0 0 0 0 0 14 15 1 57 5.75 2.01 1000 Michelle Borré 11/11 - 800 225-5677 0 0 0 0 7 5 1 18 30 30 0 - - - 3.75 0.63 1000 Robert D. Arnott 7/02 1.0 866 746-2602 0 0 0 0 0 0 1 ▲ 10 33 40 0 - - - 5.50 1.28 1000 Robert D. Arnott 9/05 0.5 866 746-2602

- - - - - - - - - - 22 91 0 0 None 1.05 1000 William H. Gross 8/06 7.8 866 746-2602 23 0 0 0 0 0 9 ▼ 0 ▲ 22 21 - 36 - 33 None 0.69 1000 Michael J. Cuggino 5/03 2.8 800 531-5142 23 21 0 7 14 2 0 0 18 12 28 21 0 56 None 0.84 0 Team Managed - - 800 225-1581

▼ 12 27 0 0 11 0 0 0 ▲ 12 27 2 40 - 58 None 0.13 250 Team Managed - - 800 447-4930 30 14 0 2 19 0 0 0 13 21 2 30 - 63 None 0.61 2500 Charles M. Shriver 12/11 - 800 225-5132 26 15 0 3 14 5 0 8 16 13 - - - - None 0.01 2500 Jerome A. Clark 9/02 0.9 800 225-5132 42 17 0 6 16 5 0 7 6 0 - - - - None 0.80 2500 Charles M. Shriver 5/11 1.8 800 225-5132 18 42 0 0 7 0 0 14 0 14 2 34 - 64 None 1.76 1000 Team Managed - - 800 422-3554 0 4 0 0 23 12 0 30 21 0 2 11 0 85 4.50 1.18 5000 Brian J. McMahon 12/02 0.7 800 847-0200 7 11 3 0 17 7 2 17 8 23 1 40 5 41 None 1.22 3000 Team Managed - - 800 531-8181 18 24 0 0 16 6 0 ▼ 10 9 15 5 25 0 48 None 1.38 1000 Team Managed - - 800 531-8181 20 17 0 0 3 0 0 34 ▲ 13 7 53 - 0 47 None 0.96 3000 Team Managed - - 800 531-8181 29 23 0 5 2 0 0 0 11 29 3 40 - 60 None 0.48 3000 Michael Perre 12/00 1.4 800 662-7447 23 22 0 4 20 4 0 9 6 12 0 - - - None 0.17 3000 George U. Sauter 9/94 0.2 800 662-7447 6 6 0 2 5 0 0 16 11 50 0 - - - None 0.26 3000 George U. Sauter 9/94 1.4 800 662-7447 18 17 0 3 16 3 0 9 7 25 - - - - None 0.16 3000 George U. Sauter 9/94 0.9 800 662-7447 12 8 3 0 10 0 0 19 5 40 0 - - - None 1.52 1000 Duane Kelly 10/03 0.8 800 662-7447 24 16 0 0 2 0 0 31 18 6 - 52 - 48 None 0.24 10000 Michael Perre 12/99 0.9 800 662-7447 8 15 0 0 7 0 0 ▼ 0 ▲ 13 50 1 59 - 39 None 0.25 3000 W.M. Recimeyer III 12/07 3.9 800 662-7447 11 37 0 0 11 0 0 13 0 25 2 31 - 66 None 0.26 3000 Edward P. Bousa 12/02 2.2 800 662-7447 40 38 0 0 8 0 0 ▲ 11 0 0 7 22 - 71 5.75 1.18 500 Cynthia P. Prince Fox 1/93 0.9 888 923-3355

PARTIAL EQUITY

Value Line Rankings Total Return Through 8/30/13





3 2 S E P T E M B E R 2 0 1 3

T H E V A L U E L I N E F U N D A D V I S O R TAXABLE BOND

Aberdeen Core Income Fund I (PDIVX) DB/IT 10.60 3 2 3 -2.8 -2.3 -2.9 -2.0 3.2 5.1 4.5 26.2 5.9 2.2Aberdeen Total Return Bond Fund A (BJBGX) CG/IT 13.09 4 3 3 -4.1 -3.2 -4.0 -3.2 3.1 5.4 5.2 34.3 0.2 2.3American Century Intl Bond Inv (BEGBX) IB/FO 13.63 5 5 4 -6.7 -0.3 -2.7 -5.9 1.1 2.2 4.6 20.3 -5.0 1.8American Century Sh-Term Govt Inv (TWUSX) GS/ST 9.65 3 1 5 -0.5 -0.3 -0.5 -0.4 0.4 1.6 2.4 6.3 6.7 0.4BlackRock High Yield Bond A (BHYAX) Y CH/IT 8.06 1 4 1 3.6 -0.7 1.7 8.9 10.3 10.5 8.7 118.8 -27.4 5.7BlackRock Intl Bond Svc (CIFIX) IB/FO 9.38 5 5 4 -5.4 0.7 -2.0 -5.4 0.3 2.5 4.0 21.4 -4.8 1.8CG Cap Mkts Core Fixed Inc (TIIUX) CG/IT 8.17 3 2 3 -3.0 -2.5 -3.1 -1.1 3.4 6.6 5.3 39.1 2.1 3.0Calvert Short Duration Income A (CSDAX) Y CG/ST 16.23 ▲ 2 2 4 -0.2 -0.9 -0.6 1.5 2.3 3.8 4.2 22.6 1.7 2.1Calvert Ultra-Short Income Fund A (CULAX) Y CG/LS 15.53 3 1 5 0.4 -0.1 0.1 1.2 1.2 2.6 — 12.5 4.5 1.0Columbia Bond Fd Z (UMMGX) CG/IT 8.99 4 2 3 -3.6 -2.4 -3.3 -3.0 1.8 4.6 4.3 25.9 1.9 2.3Columbia Intermediate Bond Fund Z (SRBFX) CG/IT 9.03 3 2 2 -3.0 -2.6 -3.0 -1.5 3.6 6.3 4.8 44.2 -4.9 2.7DFA Two-Year Global Fixed Income (DFGFX) IB/GL 10.04 3 1 5 0.2 0.0 0.1 0.3 0.7 1.6 2.3 6.0 4.9 1.0DWS GNMA Fund S (SGINX) GM/IT 14.26 4 2 ▼ 4 -5.2 -3.1 -4.9 -4.7 1.5 4.1 4.3 17.8 9.2 3.8Dodge & Cox Income Fund (DODIX) CG/IT 13.48 2 2 3 -1.3 -1.7 -1.7 0.3 4.0 6.7 5.2 40.6 -0.4 3.0Dreyfus Bond Market Index Inv (DBMIX) CG/XB 10.49 4 2 3 -3.1 -2.0 -2.9 -3.1 2.1 4.4 4.3 21.6 6.3 2.6Dreyfus Short-Intermediate Gvmt Fd (DSIGX) GS/IT 10.48 3 1 5 -0.8 -0.5 -0.8 -0.9 -0.2 1.3 2.1 3.4 8.2 0.6FPA New Income Fund (FPNIX) Y CG/ST 10.41 ▲ 2 1 4 0.1 -0.7 -0.2 0.6 1.7 2.5 3.3 10.5 6.1 3.0Federated Govt Inc Securities F (FGOIX) Y GM/IT 8.83 4 2 4 -3.1 -2.1 -3.0 -3.1 1.5 3.4 3.6 15.7 6.1 2.4Federated High Income Bond A (FHIIX) Y CH/IT 7.69 1 4 1 2.6 -1.3 0.8 6.4 9.1 10.0 8.1 104.2 -23.5 6.5Fidelity Capital & Income Fund (FAGIX) CH/IT 9.45 2 5 2 2.4 -2.6 0.2 7.2 9.2 10.7 9.3 138.9 -33.2 4.6Fidelity GNMA Fund (FGMNX) GM/IT 11.24 4 2 3 -3.3 -2.2 -3.4 -3.4 2.3 5.0 4.8 22.2 10.5 1.6Fidelity High Income (SPHIX) CH/IT 9.19 2 4 1 1.6 -1.9 -0.3 5.5 8.7 9.6 8.5 103.6 -22.1 4.8Fidelity Intermediate Bond (FTHRX) CG/IT 10.79 ▲ 2 2 3 -1.9 -1.8 -2.1 -1.1 2.8 5.3 4.2 37.8 -4.0 2.0Fidelity Investment Grade Bond Fd (FBNDX) CG/IT 7.65 3 2 3 -3.2 -2.5 -3.0 -2.3 3.5 5.6 4.4 40.6 -6.1 1.9Fidelity Mortgage Securities (FMSFX) GM/IT 10.92 3 2 3 -2.9 -2.0 -2.9 -2.4 2.6 5.1 3.9 26.9 2.1 1.6Fidelity New Markets Income (FNMIX) IB/EM 15.64 3 5 1 -8.8 -5.8 -8.0 -3.8 5.8 9.0 9.6 93.3 -18.8 4.6Fidelity Short-Term Bond (FSHBX) CG/ST 8.55 3 1 5 -0.1 -0.3 -0.2 0.4 1.5 2.4 2.3 15.8 -3.0 0.8Fidelity Spartan US Bond Index Inv (FBIDX) CG/XB 11.36 4 2 3 -3.3 -2.3 -3.1 -3.2 2.3 4.6 4.4 24.5 4.8 1.9Fidelity Total Bond (FTBFX) DB/IT 10.47 3 2 2 -2.9 -2.7 -3.1 -2.0 3.7 6.3 5.2 44.6 -3.3 2.3Franklin High Income A (FHAIX) Y CH/IT 2.05 2 4 1 2.4 -1.7 0.7 7.4 9.6 9.8 8.6 100.8 -21.9 6.4Hartford Inflation Plus A (HIPAX) Y GS/AJ 11.12 ▼ 5 4 3 -8.6 -4.5 -7.9 -7.7 2.8 3.7 4.8 30.9 5.4 0.4HighMark Bond Fund Fid (HMBDX) CG/IT 11.04 3 2 3 -2.5 -2.3 -2.7 -1.3 3.4 5.8 5.0 33.2 3.5 2.7JPMorgan Core Bond Fund A (PGBOX) Y DB/IT 11.58 3 2 3 -2.5 -1.9 -2.5 -2.0 2.9 5.6 4.9 28.7 5.9 2.4Janus Short Term Bond D Shs (JNSTX) CG/ST 3.06 3 1 5 -0.6 -0.6 -1.0 -0.4 1.4 2.6 2.3 12.2 2.0 0.2Loomis Sayles Core Pl Bd A (NEFRX) Y CG/IT 12.55 ▼ 2 3 1 -3.8 -3.5 -4.0 -1.0 5.2 8.2 6.3 54.6 -0.8 4.1Loomis Sayles Invst Gr Bd A (LIGRX) Y CG/IT 12.01 2 ▼ 4 1 -2.5 -3.4 -2.9 1.0 5.4 7.8 8.0 66.9 -12.0 4.7Loomis Sayles Securitzed Asset (LSSAX) GM/IT 10.67 1 2 1 -1.4 -1.5 -1.6 0.8 4.9 8.3 — 60.0 -5.8 5.4MFS Emerging Markets Debt A (MEDAX) Y IB/EM 14.36 3 5 ▼ 2 -9.5 -7.0 -8.7 -4.8 4.6 7.8 9.2 71.3 -12.9 4.8MainStay High Yield Corp Bond B (MKHCX) Y CH/IT 5.95 1 3 1 2.0 -1.2 0.3 5.5 7.8 8.0 7.3 83.7 -23.6 5.9Managers High Yield Fund Inv (MHHAX) CH/IT 7.91 1 4 1 1.8 -1.3 0.3 6.4 9.3 9.2 7.8 119.7 -32.1 5.8Managers Pimco Bond Fund (MBDFX) CG/IT 10.40 4 3 3 -3.7 -2.7 -3.7 -2.4 2.0 5.7 4.9 37.3 -0.9 2.2Neuberger Berman High Inc Bd Inv (NHINX) CH/IT 9.34 2 5 2 2.5 -1.3 0.9 6.9 8.8 11.0 7.6 101.5 -18.7 5.6Nuveen Shrt Trm Bd I (FLTIX) CG/ST 9.98 3 2 4 0.7 -0.2 0.3 1.8 2.3 3.1 2.9 20.2 -2.0 2.1PIMCO Foreign Bond A (PFOAX) Y IB/FO 10.52 2 3 2 -1.3 -1.5 -1.9 2.3 4.4 7.5 5.5 49.3 -1.0 3.4PIMCO High Yield A (PHDAX) Y CH/IT 9.43 1 4 1 1.6 -1.4 0.2 5.4 7.9 9.0 7.3 101.2 -26.0 5.4PIMCO Short Term C (PFTCX) CG/ST 9.81 3 1 5 -0.4 -0.8 -0.6 0.2 0.8 1.8 2.1 10.6 0.5 0.5PIMCO Total Return A (PTTAX) Y CG/IT 10.65 3 3 3 -3.8 -5.6 -4.0 -2.2 2.9 6.3 5.6 35.8 6.8 3.2PNC Intermediate Bond I (PIKIX) CG/IT 11.04 3 2 4 -1.9 -1.6 -2.0 -1.2 2.0 4.0 3.6 21.7 4.0 1.4Payden Global Fixed Inc R (PYGFX) IB/GL 8.39 3 3 3 -3.0 -3.3 -3.0 0.2 2.7 4.7 4.1 24.5 2.9 2.5Payden Global Low Duration Fund (PYGSX) IB/GL 10.03 ▲ 2 2 4 -0.1 -0.9 -0.6 1.3 2.3 3.4 3.2 20.3 -1.6 1.3Pioneer Bond Fund A (PIOBX) Y CG/IT 9.60 1 2 ▼ 2 -1.1 -2.1 -1.8 0.4 4.3 6.5 5.6 43.1 -2.0 3.3Principal Income Fund A (CMPIX) Y CG/IT 9.51 2 3 2 -2.0 -2.3 -2.2 -0.1 4.2 7.1 5.6 48.9 -3.7 3.9Principal Sh-Term Inc A (SRHQX) Y CG/ST 12.19 3 1 4 0.1 -0.4 -0.4 1.2 2.1 3.6 3.4 20.9 1.6 1.3RidgeWorth Corporate Bond Fd I (STICX) CG/LT 8.77 ▼ 4 3 3 -4.6 -3.6 -4.4 -3.7 3.2 5.8 5.3 38.4 -2.4 3.1RidgeWorth Intermediate Bond I (SAMIX) CG/IT 10.04 3 2 4 -1.7 -1.4 -1.7 -1.3 1.7 4.7 4.4 19.8 10.5 1.5RidgeWorth Seix High Yield I (SAMHX) CH/IT 9.94 2 4 2 1.3 -1.9 -0.3 6.1 8.3 8.1 6.6 77.0 -17.0 4.9RidgeWorth Total Return Bond I (SAMFX) DB/IT 10.39 4 3 3 -3.5 -1.9 -3.2 -2.9 2.8 6.0 5.1 27.1 9.0 1.5SEI Daily Inc Tr-Int Dur Gov Bd A (TCPGX) GS/IT 11.53 3 2 4 -2.2 -1.3 -2.4 -2.2 1.9 4.8 4.3 18.6 13.3 1.8Sit US Government Fund (SNGVX) GS/LT 11.06 3 1 4 -2.0 -1.1 -1.9 -1.7 1.4 3.4 3.7 16.0 7.3 1.0T. Rowe Price Emerging Mkts Bd (PREMX) IB/EM 12.38 3 5 2 -9.8 -7.3 -9.0 -4.9 4.4 7.0 9.0 77.0 -18.9 5.5


Avg.Mat. Avg. Avg. Avg. % invested in Max. Sales Expense Min. MgrYrs. Duration Qual. Coupon Cash Bds Crts Stks Other Charge Ratio Initial Inv. Fund Manager Year Rating 2 Telephone


S E P T E M B E R 2 0 1 3 3 3

T H E V A L U E L I N E F U N D A D V I S O RTAXABLE BOND

7 4 AA 5.6 2 99 - - -1 None 0.50 1 Mil Team Managed - - 866 667-9231 7 5 BBB 5.1 6 105 - - -11 None 0.69 1000 Richard Pell 7/98 - 800 387-6977 - 6 AAA 4.3 1 94 - - 5 None 1.10 2500 Team Managed - - 800 345-2021 2 2 AAA 1.6 1 99 - - 0 None 0.80 2500 Team Managed - - 800 345-2021 7 4 <BBB 7.3 1 95 - 10 -6 4.00 0.95 1000 Team Managed - - 800 441-7762 - 5 AAA 4.6 0 100 - - 0 None 1.15 5000 Yoni Saposh 1/10 -2.2 800 441-7762 6 5 A 5.3 6 104 0 0 -11 None 0.55 100 Team Managed - - 800 444-4273 3 2 A 3.7 1 100 - 0 -1 2.75 1.08 2000 Team Managed - - 800 368-2745 1 A 2.4 8 94 - 0 -3 1.25 0.89 2000 Team Managed - - 800 368-2745 16 5 AA 3.8 0 109 - 0 -10 None 0.65 2000 Team Managed - - 800 345-6611 17 5 A 4.3 0 104 - 0 -4 None 0.62 2000 Team Managed - - 800 345-6611 1 1 AAA 3.0 2 98 - - - None 0.18 0 David A. Plecha 2/96 -0.3 888 576-1167 8 5 AAA 4.3 1 127 - - -27 None 0.54 2500 Team Managed - - 800 621-1048 - 4 AA 6.1 1 98 - - 1 None 0.43 2500 Team Managed - - 800 621-3979 7 5 AAA 4.4 3 100 - - -2 None 0.40 2500 Nancy Rogers 2/10 - 800 782-6620 2 2 AAA 4.8 1 99 - - - None 0.65 2500 Dawn Guffey 4/11 - 800 782-6620 3 1 AA 3.8 1 100 - - -1 3.50 0.58 1500 Robert L. Rodriguez 7/84 - 800 982-4372 6 4 AAA 4.2 6 99 - - -5 1.00 0.99 1500 Todd A. Abraham 2/03 - 800 341-7400 4 3 <BBB 8.1 - 98 - 0 2 4.50 1.23 1500 Mark E. Durbiano 1/87 0.4 800 341-7400 - - - - 5 80 0 14 1 None 0.73 2500 Mark Notkin 7/03 1.5 800 544-6666 4 3 AAA 4.2 7 121 - - -27 None 0.45 2500 William Irving 11/04 - 800 544-6666 5 3 <BBB 7.3 6 90 2 2 0 None 0.72 2500 Fred Hoff 6/00 0.2 800 544-6666 4 4 AA 5.2 1 99 - - 0 None 0.45 2500 Ford O’Neil 7/98 - 800 544-6666 7 5 AA 5.0 7 80 - - 13 None 0.45 2500 Jeffrey Moore 12/04 - 800 544-6666 4 3 AAA 4.2 6 118 - - -24 None 0.45 2500 William Irving 4/08 - 800 544-6666 10 6 BBB 7.1 5 92 - 1 2 None 0.85 2500 John Carlson 6/95 1.4 800 544-6666 2 2 AA 3.4 0 100 - - 0 None 0.45 2500 Robert Galusza 7/07 - 800 544-6666 6 5 AA 4.8 7 100 - 0 -7 None 0.22 10000 Curt Hollingsworth 2/09 - 800 544-6666 7 5 AA 2.4 3 77 0 0 20 None 0.45 2500 Team Managed - - 800 544-6666 6 4 <BBB 8.2 2 96 0 0 1 4.25 0.76 1000 Christopher Molumphy 1/91 0.2 800 632-2301 9 6 AAA 1.8 0 100 - - 0 4.50 0.85 2000 Lindsay T. Politi 3/12 - 888 843-7824 6 4 AA 5.7 2 98 - - 0 None 0.72 100000 Team Managed - - 800 433-6884 6 4 AAA 4.2 1 100 - - -1 3.75 0.74 1000 Douglas Swanson 12/91 0.2 800 480-4111 3 - A 3.0 2 98 - - - None 0.69 Closed Darrell Watters 5/07 - 877 335-2687 - 6 AA 5.1 3 98 0 0 -2 4.50 0.79 2500 Peter W. Palfrey 12/96 - 800 633-3330 7 5 A 5.3 1 94 2 2 1 4.50 0.83 2500 Team Managed - - 800 633-3330 5 3 AAA - 1 118 - - -19 None 0.78 0 Clifton V. Rowe 3/06 - 800 633-3330 11 7 BBB 6.5 7 92 - - 1 4.75 1.09 1000 Matthew W. Ryan 7/98 2.7 800 225-2606 6 3 <BBB 7.9 3 94 0 1 2 5.00R 1.76 1000 J. Matthew Philo 12/00 1.0 800 624-6782 4 3 <BBB 7.9 7 96 - 0 -3 None 1.16 2000 Robert Cook 1/01 0.6 800 835-3879 7 5 AA 3.2 7 131 - 0 -38 None 0.59 2000 William H. Gross 3/94 - 800 835-3879 - - - - 5 96 - - -1 None 0.85 2000 Team Managed - - 877 877-9700 3 4 AA 4.9 7 97 - - -4 None 0.46 100000 Chris J. Neuharth 3/04 - 800 257-8787 - - - - 1 98 - 0 1 3.75 0.93 1000 Scott A. Mather 2/08 3.9 866 746-2602 - - - - - 90 0 0 9 3.75 0.90 1000 Andrew Jessop 1/10 -0.6 866 746-2602 1 AA 4.5 9 95 - 0 -4 None 1.01 1000 Jerome Schneider 1/11 - 866 746-2602 - - - - 1 107 0 0 -8 3.75 0.85 1000 William H. Gross 5/87 - 866 746-2602 4 4 AA 2.9 1 98 - - 0 None 0.53 0 Team Managed - - 800 622-3863 9 6 A 4.8 24 76 - - 0 None 0.71 5000 Team Managed - - 800 572-9336 2 - A - 2 99 - - -1 None 0.65 5000 David Ballantine 2/08 1.2 800 572-9336 7 4 A 4.8 3 94 1 2 1 4.50 0.85 1000 Kenneth J. Taubes 12/98 - 800 225-6292 7 5 A 5.0 4 94 0 0 1 2.25 0.90 1000 Team Managed - - 800 986-3343 2 2 A 4.5 0 100 - - 0 2.25 0.77 1000 Team Managed - - 800 986-3343 11 7 A 3.9 1 91 - 5 3 None 0.60 0 Team Managed - - 888 784-3863 4 4 AA 4.6 6 97 - 1 -5 None 0.35 0 Team Managed - - 888 784-3863 8 4 <BBB 6.9 11 96 1 - -8 None 0.54 0 Brian Nold 1/07 0.4 888 784-3863 7 5 AA 2.7 9 98 - 1 -8 None 0.39 0 Team Managed - - 888 784-3863 5 4 AA 4.4 29 100 - - -29 None 0.53 0 Michael Garrett 12/03 - 800 342-5734 2 2 AAA 7.6 0 98 - - 2 None 0.80 5000 Team Managed - - 800 332-5580 11 7 BBB 7.1 4 94 - - 2 None 0.94 2500 Michael J. Conelius 12/94 0.8 800 225-5132


© 2013, Value Line Publishing LLC. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOTRESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmittedin any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

3 4 S E P T E M B E R 2 0 1 3







T H E V A L U E L I N E F U N D A D V I S O R TAXABLE BOND

TAX-FREE BOND

AllianceBernstein Intm Dvrs Muni Br (SNDPX) MB/IT 14.20 3 2 5 -2.6 -2.5 -3.0 -2.0 0.7 2.3 2.6 11.8 4.4 2.6Alpine Ultra ShortTax Optm Inc Inst (ATOIX) MB/ST 10.03 ▲ 2 1 5 0.3 0.0 0.2 0.4 1.1 1.7 2.4 7.0 5.0 0.5American Century Interm-T Tx-Fr Inv (TWTIX) MB/IT 11.08 2 3 3 -3.8 -4.0 -4.6 -3.1 2.1 4.0 3.8 22.6 3.9 2.4American Funds T/E Bd of America A (AFTEX) Y MB/LT 12.21 1 3 1 -5.1 -5.7 -6.1 -3.5 2.9 4.3 4.1 30.4 -2.9 3.4Colorado Bond Shrs Tax-Exmt A (HICOX) Y MS/CO 8.99 ▲ 1 1 4 0.2 -1.3 -0.6 1.2 3.5 3.1 4.1 20.3 -2.3 3.8Columbia Oregon Interm Muni Bond Z (CMBFX) MS/OR 12.15 ▲ 2 3 3 -4.0 -3.9 -4.7 -3.2 1.9 3.6 3.8 19.3 4.3 2.9DWS Interm Tax/AMT Free S (SCMTX) MB/IT 11.37 ▲ 3 3 3 -5.0 -4.5 -5.6 -4.2 1.8 3.7 3.6 19.7 3.8 2.5DWS Managed Muni Bonds S (SCMBX) MB/LT 8.70 ▼ 3 3 2 -6.4 -6.6 -7.5 -4.7 2.3 4.6 4.5 28.8 1.0 4.0DWS Mass Tax-Free S (SCMAX) MS/MA 13.76 5 4 3 -7.6 -7.0 -8.1 -6.3 1.4 3.8 4.2 24.7 2.6 3.7DWS Strategic High Yield T/F S (SHYTX) MB/HY 11.69 ▼ 3 4 2 -8.4 -9.1 -9.6 -6.4 2.4 3.8 4.1 45.3 -15.3 4.1Delaware Tax Free MN Interm A (DXCCX) Y MS/MN 10.84 ▲ 2 3 3 -4.1 -4.0 -4.7 -3.1 1.9 3.6 3.7 19.8 3.4 3.0Dreyfus Intermediate Muni Bd (DITEX) MB/IT 13.43 2 3 3 -4.0 -4.2 -4.8 -3.1 2.1 4.0 3.7 22.6 2.8 2.6Dreyfus Muni Bond Opp Z (DMBZX) MB/LT 12.07 ▲ 1 3 2 -5.6 -6.1 -6.6 -4.5 2.0 3.6 3.5 28.1 -4.1 3.1Dreyfus Municipal Bond Fund (DRTAX) MB/LT 11.01 2 3 3 -5.6 -6.0 -6.4 -4.5 2.0 2.7 2.9 24.0 -9.0 3.2Dreyfus NY Tax Exempt Bond (DRNYX) MY/LT 14.23 3 3 3 -6.0 -6.1 -6.9 -5.4 1.5 3.8 3.7 24.0 1.0 3.6Dupree KY Tax Free Income (KYTFX) MS/KY 7.57 3 3 3 -5.9 -4.5 -5.8 -4.8 1.8 3.8 3.6 20.6 4.0 1.7Dupree KY Tax Free Short-to-Med (KYSMX) MS/KY 5.40 ▲ 2 2 4 -1.1 -1.3 -1.7 -0.8 1.6 3.2 2.9 14.5 6.4 2.1Federated MI Interm Muni Tr A (MMIFX) Y MS/MI 10.90 2 3 3 -4.1 -4.1 -4.9 -2.9 2.2 3.7 3.6 21.5 2.7 2.9Federated Muni High Yld Advntg F (FHTFX) Y MB/LT 8.11 ▼ 3 4 ▲ 1 -7.6 -8.7 -8.6 -5.2 3.2 4.2 3.9 49.7 -20.4 4.9Federated Sh-Intrm Duration Muni A (FMTAX) Y MB/ST 10.25 ▲ 2 2 5 -1.0 -1.5 -1.6 -0.8 1.3 2.1 — 11.7 1.9 1.1Fidelity Adv Muni Income A (FAMUX) Y MB/HY 12.69 ▼ 2 3 2 -5.8 -5.9 -6.5 -4.4 2.4 4.1 4.2 26.6 -0.4 3.1Fidelity CA Muni Income (FCTFX) MC/LT 12.08 1 3 2 -4.8 -5.3 -5.6 -3.1 3.1 4.4 4.3 28.8 -0.9 3.4Fidelity CA Short-Int TaxFree Bond (FCSTX) MC/ST 10.55 2 2 4 -1.1 -1.5 -1.5 -0.6 1.4 3.0 — 14.0 6.8 1.9Fidelity CT Muni Income (FICNX) MS/CT 11.20 3 3 3 -5.0 -4.8 -5.4 -4.5 1.7 3.8 3.9 20.8 4.2 2.7Fidelity Intermediate Muni Income (FLTMX) MB/IT 10.10 2 3 4 -3.6 -3.8 -4.1 -2.6 2.0 3.7 3.9 20.3 4.7 2.6

T. Rowe Price GNMA Fd (PRGMX) GM/IT 9.46 4 2 4 -3.2 -2.2 -3.3 -3.3 2.1 3.8 3.6 18.5 2.1 3.6T. Rowe Price High Yield Fd (PRHYX) CH/IT 6.96 ▼ 2 4 1 3.9 -1.7 1.6 8.9 9.6 9.9 8.1 106.1 -23.8 6.1T. Rowe Price Infla-Protect Bond (PRIPX) GS/AJ 12.36 4 4 3 -8.1 -4.6 -7.6 -7.2 3.1 3.5 4.6 31.7 -0.9 0.5T. Rowe Price Intl Bond Fd (RPIBX) IB/FO 9.37 5 5 3 -5.8 -0.9 -3.0 -4.1 1.7 2.9 4.3 27.9 -9.9 2.2T. Rowe Price New Income Fd (PRCIX) CG/IT 9.34 4 2 3 -3.5 -2.9 -3.5 -2.5 2.5 4.5 3.8 29.9 -2.8 2.7T. Rowe Price Short-Term Bond (PRWBX) CG/ST 4.78 3 1 5 -0.4 -0.4 -0.4 0.0 1.4 2.3 2.3 14.4 -1.3 1.6T. Rowe Price Summit GNMA (PRSUX) GM/IT 9.55 4 2 4 -3.5 -2.3 -3.5 -3.5 2.0 3.7 3.6 18.3 4.0 3.7Thrivent High Yield Fund A (LBHYX) Y CH/IT 4.97 1 4 1 2.0 -1.3 0.6 6.4 9.3 9.6 8.0 93.3 -20.2 5.9Transamerica Flexible Income C (IFLLX) CH/IT 9.16 1 3 ▲ 1 0.7 -1.9 -1.0 3.7 6.3 6.9 4.2 66.9 -19.7 3.7USAA Income Fund (USAIX) CG/IT 12.98 1 2 2 -1.5 -2.3 -2.3 0.0 3.9 6.4 5.3 46.7 -4.2 3.5Vanguard GNMA Inv (VFIIX) GM/IT 10.39 4 2 3 -3.4 -1.6 -3.3 -4.3 1.8 4.5 4.6 18.8 10.0 2.2Vanguard High-Yield Corporate Inv (VWEHX) CH/IT 5.90 1 4 1 0.4 -2.2 -0.6 4.6 8.8 9.2 7.2 89.2 -20.4 5.8Vanguard Infltn Pro Sec Fd (VIPSX) GS/AJ 13.25 ▼ 5 4 3 -8.7 -4.7 -8.2 -8.8 2.9 3.5 5.0 31.3 0.2 2.3Vanguard Long-Term Bond Index Inv (VBLTX) DB/XS 12.56 4 5 3 -9.5 -6.3 -8.2 -11.5 3.3 7.5 6.5 46.0 2.3 4.4Vanguard Short-Term Bond Index Inv (VBISX) CG/XB 10.48 3 1 4 -0.7 -0.6 -0.8 -0.6 1.2 2.9 3.3 13.1 7.4 1.1Vanguard Short-Term Inv Gr Inc Inv (VFSTX) CG/ST 10.65 3 1 4 -0.5 -0.7 -0.8 0.0 1.9 3.6 3.6 25.0 -2.1 1.8Vanguard Total Bd Mkt Index Inv (VBMFX) DB/XB 10.58 4 2 3 -3.1 -2.1 -3.0 -3.4 2.1 4.6 4.9 23.4 9.8 2.3Victory Fund For Income R (GGIFX) GS/IT 10.66 3 ▼ 2 4 -1.6 -1.5 -1.9 -1.4 1.8 3.9 3.7 18.7 7.7 4.9Virtus Bond C (SAVCX) DB/IT 10.88 3 3 3 -2.9 -3.4 -3.4 -1.5 2.9 5.7 4.2 32.9 -0.4 2.8Waddell & Reed Adv High Income A (UNHIX) Y CH/IT 7.63 1 4 1 5.9 0.0 3.0 12.5 12.6 11.3 8.4 101.7 -17.5 7.7Wasatch-1st Source Income (FMEQX) CG/ST 10.07 3 2 4 -2.1 -1.7 -2.3 -1.7 1.2 3.3 3.2 16.6 4.8 1.8Weitz Short-Intermediate Inc (WEFIX) CG/ST 12.50 ▲ 2 1 4 0.2 -0.5 -0.5 1.0 2.2 4.5 4.1 22.2 5.5 1.9Wells Fargo Adv S-T H/Y Bond Inv (STHBX) CH/IT 8.21 2 2 3 1.3 0.1 0.9 3.1 4.5 4.6 4.0 31.0 -6.4 3.5Wells Fargo Adv Short-Term Bond Inv (SSTBX) CG/ST 8.76 3 1 ▼ 5 0.1 -0.2 -0.2 0.7 1.6 3.3 2.8 17.9 -2.6 1.1Wells Fargo Adv Ultra S-T Inc Inv (STADX) CG/ST 8.53 3 1 5 0.1 -0.1 0.0 0.4 1.1 1.7 1.6 13.9 -9.6 0.7


© 2013, Value Line Publishing LLC. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOTRESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmittedin any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

S E P T E M B E R 2 0 1 3 3 5

Avg.Mat. Avg. Avg. Avg. % invested in Max. Sales Expense Min. MgrYrs. Duration Qual. Coupon Cash Bds Cvts Stks Other Charge Ratio Initial Inv. Fund Manager Since Rating 2 Telephone

Avg.Mat. Avg. Avg. Avg. % invested in Max. Sales Expense Min. MgrYrs. Duration Qual. Coupon Cash Bds Cvts Stks Other Charge Ratio Initial Inv. Fund Manager Since Rating 2 Telephone

T H E V A L U E L I N E F U N D A D V I S O RTAXABLE BOND

TAX-FREE BOND

- 4 A 5.2 4 95 - - 1 None 0.56 25000 Team Managed - - 800 221-5672 15 7 AAA 5.2 0 104 - - -4 None 0.64 250000 Steven C. Shachat 4/04 - 888 785-5578 9 5 AA 4.7 - 101 - - -1 None 1.30 5000 Team Managed - - 800 345-2021 7 5 AA 5.3 - 99 - - 1 3.75 0.57 250 Team Managed - - 800 421-0180 - 6 AA 5.8 - 83 - - 17 4.75 0.56 500 Fred R. Kelly Jr. 11/90 - 800 572-0069 - 6 AA 4.4 1 97 - - 1 None 0.54 Closed Brian M. McGreevy 12/03 - 800 345-6611 7 6 AA 5.2 - 98 - - 2 None 0.61 2500 Team Managed - - 800 621-1048 12 7 A 5.7 - 106 - - -6 None 0.62 2500 Team Managed - - 800 621-1048 6 6 AA 5.8 - 110 - - -10 None 0.82 2500 Philip G. Condon 12/89 - 800 621-1048 16 8 BBB 6.3 - 107 - - -7 None 0.89 2500 Team Managed - - 800 621-1048 6 5 A 5.0 0 99 - - 1 2.75 0.84 1000 Joseph R. Baxter 5/03 - 800 523-1918 8 5 AA 5.4 1 99 - - - None 0.73 2500 Team Managed - - 800 782-6620 17 6 AA 6.0 0 100 - - - None 0.87 1000 Mountaga Aw 5/11 - 800 782-6620 15 7 AA 5.6 0 100 - - - None 1.72 2500 Team Managed - - 800 782-6620 15 7 AA 5.4 0 100 - - - None 0.72 2500 David Belton 12/09 - 800 782-6620 5 4 AA 5.0 - 100 - - - None 0.57 100 Vincent Harrison 1/04 - 800 866-0614 4 3 AA 4.7 - 100 - - - None 0.72 100 Vincent Harrison 1/04 - 800 866-0614 6 5 AA 4.8 - 99 - - 1 3.00 0.63 1500 Lee R. Cunningham II 5/98 - 800 341-7400 13 7 BBB 6.2 - 98 - - 2 1.00 0.89 1500 Lee R. Cunningham II 4/09 - 800 341-7400 - 3 A 4.2 - 100 - - 0 1.00 0.97 1500 Jeff A. Kozemchak 12/06 - 800 341-7400 6 7 AA 5.4 - 99 - - 1 4.00 0.78 2500 Jamie Pagliocco 2/09 - 800 544-6666 6 7 AA 3.6 - 99 - - 1 None 0.46 10000 Jamie Pagliocco 7/06 - 800 544-6666 4 3 A 5.0 - 96 - - 4 None 0.48 10000 Jamie Pagliocco 7/06 - 800 544-6666 6 7 AA 4.9 - 99 - - 1 None 0.49 10000 Mark Sommer 6/02 - 800 544-6666 5 5 AA - 1 97 - - 2 None 0.36 10000 Team Managed - - 800 544-6666

7 4 AAA 4.3 2 109 - - -11 None 0.59 2500 Andrew C. McCormick 4/08 - 800 225-5132 7 4 <BBB 7.7 3 94 0 3 0 None 0.74 2500 Mark J. Vaselkiv 6/96 1.4 800 225-5132 9 6 AAA 1.8 0 99 - - 0 None 0.50 2500 Daniel O. Shackleford 10/02 - 800 225-5132 8 6 AA 4.4 3 95 - - 2 None 0.83 2500 Ian D. Kelson 12/01 -0.9 800 225-5132 8 5 AA 4.2 8 96 - - -4 None 0.58 2500 Daniel O. Shackelford 12/02 - 800 225-5132 2 2 AA 2.8 3 98 - - -1 None 0.51 2500 Edward A. Wiese 1/95 - 800 225-5132 7 5 AAA 4.3 0 109 - - -9 None 0.60 25000 Andrew McCormick 4/08 - 800 225-5132 7 5 <BBB 7.9 9 96 - 1 -5 4.50 0.81 2000 Paul J. Ocenasek 12/97 -0.9 800 847-4836 9 4 BBB 7.3 17 92 0 3 -12 None 1.66 1000 Team Managed - - 888 233-4339 6 3 A 4.6 1 96 - 3 0 None 0.57 3000 Julianne Bass 7/12 - 800 531-8181 6 4 AAA 4.5 5 99 - - -4 None 0.21 3000 Michael F. Garrett 5/10 - 800 662-7447 5 4 <BBB 6.7 4 94 - 2 1 None 0.23 3000 Michael L. Hong 2/08 0.3 800 662-7447 9 8 AAA 2.5 0 99 - - 1 None 0.40 0 Gemma Wright Casparius 8/11 - 800 662-7447 24 15 AA 5.5 0 99 - - 1 None 0.40 0 Gregory Davis 4/08 - 800 662-7447 3 3 AAA 5.0 0 99 - - 1 None 0.40 0 Gregory Davis 1/05 - 800 662-7447 3 2 A 3.0 1 98 0 0 1 None 0.20 3000 Gregory S. Nassour 5/08 - 800 662-7447 7 5 AA 3.7 4 99 - - -4 None 0.40 3000 Kenneth E. Volpert 12/92 - 800 662-7447 4 3 AAA 6.9 0 100 - - 0 None 0.95 0 Heidi L. Adelman 3/06 - 800 539-3863 6 4 A 5.6 1 98 - 1 0 None 1.60 2500 Christopher Kelleher 10/12 - 800 243-1574 5 4 <BBB 8.6 5 93 - 1 1 5.75 1.04 500 William M. Nelson 4/08 3.2 888 923-3355 - - - - 2 94 - 1 3 None 0.71 2000 Paul Gifford 4/00 - 800 551-1700 3 2 AAA 4.2 8 93 - 1 -3 None 0.62 25000 Thomas D. Carney 1/96 - 800 304-9745 2 2 <BBB 6.0 8 92 - 0 0 None 0.98 2500 Team Managed - - 800 359-3379 2 2 AA 3.8 1 99 - 0 0 None 0.89 2500 Team Managed - - 800 359-3379 1 1 A 3.8 13 87 - 0 0 None 0.88 2500 Team Managed - - 800 359-3379






3 6 S E P T E M B E R 2 0 1 3


Fidelity MA Muni Income (FDMMX) MS/MA 11.63 3 3 3 -6.2 -5.8 -6.7 -5.0 2.0 4.1 4.2 25.2 1.6 3.0Fidelity MN Muni Income (FIMIX) MS/MN 11.30 2 3 3 -3.8 -4.0 -4.5 -3.0 2.1 3.9 3.9 20.7 4.7 2.7Fidelity Municipal Income (FHIGX) MB/LT 12.51 1 3 2 -5.9 -6.0 -6.6 -4.4 2.5 4.3 4.3 27.3 0.4 3.3Fidelity NJ Muni Income (FNJHX) MS/NJ 11.40 2 3 3 -5.2 -5.5 -6.0 -4.5 2.0 3.8 4.1 23.1 2.5 3.1Fidelity NY Muni Income (FTFMX) MY/IT 12.65 3 3 3 -5.8 -5.6 -6.2 -4.6 1.8 3.9 4.1 23.0 2.8 3.0Fidelity OH Muni Income (FOHFX) MS/OH 11.43 2 3 3 -5.8 -5.6 -6.3 -4.3 2.1 4.0 4.1 22.7 3.4 3.1Fidelity PA Muni Income (FPXTX) MS/PA 10.64 ▲ 1 3 3 -5.3 -5.3 -5.8 -4.0 2.4 4.0 4.1 23.2 3.3 3.1Fidelity Short-Intermed Muni Inc (FSTFX) MB/ST 10.62 ▲ 2 1 4 -1.1 -1.4 -1.5 -0.6 1.4 2.6 2.9 12.6 6.3 1.6Franklin CA Interm Tax-Free Inc A (FKCIX) Y MC/IT 11.47 1 3 3 -3.9 -4.2 -4.6 -2.7 2.6 4.0 4.0 26.5 0.0 3.2Franklin California H/Y Muni C (FCAHX) MC/HY 9.67 ▼ 3 4 ▲ 1 -7.2 -8.3 -8.4 -5.2 4.1 5.0 4.4 51.6 -16.1 3.7Franklin California Tx-Fr Inc A (FKTFX) Y MC/LT 6.82 ▼ 3 4 2 -7.0 -7.6 -8.0 -5.4 2.5 4.2 4.4 32.8 -4.6 4.3Franklin Federal Interm T/F A (FKITX) Y MB/IT 11.80 2 3 3 -4.5 -4.2 -5.1 -3.4 2.3 4.2 4.1 25.9 1.9 2.7Franklin Federal Tax-Free Inc A (FKTIX) Y MB/LT 11.60 3 3 1 -6.9 -6.8 -7.4 -5.4 2.6 4.3 4.4 29.6 -2.2 3.9Franklin High Yld Tax-Free Inc A (FRHIX) Y MB/HY 9.69 3 4 1 -9.0 -9.4 -9.8 -7.4 2.4 4.5 4.7 42.7 -11.5 4.3Franklin New York Tax-Free Inc C (FNYIX) MY/LT 11.07 5 3 4 -6.9 -6.8 -7.5 -6.3 0.7 2.9 3.3 19.0 1.2 3.0Franklin Oregon Tax-Free Inc A (FRORX) Y MS/OR 11.30 4 3 3 -8.0 -7.7 -8.6 -7.3 1.3 3.6 4.1 24.0 1.1 3.6GE Elfun Tax Exempt Income Fund (ELFTX) MB/LT 11.25 ▼ 4 3 3 -6.1 -5.9 -6.6 -4.9 1.8 4.0 3.9 23.0 2.2 4.2Invesco Tax-Free Intermed A2 (AITFX) Y MB/IT 11.35 1 3 3 -2.3 -2.8 -3.2 -1.1 2.7 4.8 3.9 24.4 6.2 3.3Ivy Municipal Bond A (WMBAX) Y MB/LT 11.42 1 3 1 -4.9 -5.3 -5.6 -3.7 2.5 4.6 4.1 28.5 -0.2 2.7MFS Municipal Lmtd Maturity Fund A (MTLFX) Y MB/IT 7.99 ▲ 2 2 4 -2.0 -2.2 -2.5 -1.7 1.7 3.3 2.8 17.0 3.2 1.8Northern Tax Exempt (NOTEX) MB/LT 10.08 4 ▲ 3 3 -6.9 -6.5 -7.6 -5.8 2.1 4.4 4.0 24.9 5.8 2.6Nuveen Interm Duratn Muni A (NMBAX) Y MB/LT 8.78 2 3 4 -4.0 -4.3 -4.8 -3.2 1.8 3.5 3.8 22.5 0.5 3.0Nuveen LtdTerm Muni A (FLTDX) Y MB/IT 10.90 2 2 4 -1.6 -2.1 -2.3 -1.2 1.5 3.0 3.1 15.7 4.4 2.0Prudential Muni High Inc A (PRHAX) Y MB/HY 9.26 ▼ 3 4 1 -7.9 -9.6 -9.2 -6.0 2.7 4.2 4.2 42.4 -12.6 4.7Putnam MA Tax Exempt Income A (PXMAX) Y MS/MA 9.21 4 3 3 -6.8 -6.7 -7.4 -6.2 1.5 3.8 4.3 25.9 -0.5 3.0RidgeWorth Inv Grade T/E Bnd I (STTBX) MB/IT 11.85 2 3 3 -3.7 -3.5 -4.4 -2.6 2.2 4.6 4.3 23.7 6.8 1.8Shelton - CA Tax/Free Income Fund S (CFNTX) MC/LT 11.27 2 3 3 -3.1 -3.4 -4.1 -2.1 2.5 3.8 3.5 21.1 2.6 3.3Sit Tax Free Income Fund (SNTIX) MB/LT 8.62 ▼ 3 3 2 -7.8 -8.2 -8.9 -6.1 2.1 3.3 2.9 35.1 -12.1 4.0T. Rowe Price MD Tax Free (MDXBX) MS/MD 10.24 1 3 1 -5.4 -5.7 -6.2 -4.1 2.4 4.2 3.9 28.9 -2.2 3.7T. Rowe Price NY Tax Free Bond (PRNYX) MY/LT 10.88 3 3 2 -6.5 -6.3 -7.3 -5.2 2.1 3.7 3.8 25.5 -1.1 3.6T. Rowe Price Summit Muni Inc Rtl (PRINX) MB/LT 10.94 ▼ 3 3 1 -6.7 -6.9 -7.7 -5.1 2.6 5.1 4.7 37.6 -6.3 3.7T. Rowe Price Tax Free High Yld Rtl (PRFHX) MB/HY 10.72 2 4 ▲ 1 -7.5 -8.8 -8.8 -5.0 3.7 3.8 3.5 51.0 -22.7 4.4T. Rowe Price Tax Free Income Fd (PRTAX) MB/LT 9.68 3 3 3 -6.0 -6.3 -7.1 -4.7 2.3 3.6 3.4 27.0 -6.1 3.9T. Rowe Price Tax Free Sh-Intrm Rtl (PRFSX) MB/IT 5.60 ▲ 2 2 4 -0.6 -1.2 -1.3 -0.4 1.6 2.6 2.3 13.3 1.8 1.5T. Rowe Price VA Tax Free (PRVAX) MS/VA 11.24 3 3 3 -6.5 -6.5 -7.3 -5.5 1.9 4.1 3.8 24.8 0.4 3.6Thornburg Ltd Term Muni-Natl A (LTMFX) Y MB/IT 14.26 3 2 4 -2.7 -2.3 -3.1 -2.7 0.6 2.0 2.1 11.7 0.5 0.0USAA California Bond (USCBX) MC/LT 10.19 3 4 3 -6.2 -7.6 -7.4 -4.4 3.1 4.0 3.7 33.5 -8.4 3.6USAA T/E Short Term Bond Fund (USSTX) MB/ST 10.70 2 1 4 0.1 -0.6 -0.4 0.5 2.0 2.8 2.8 15.0 3.5 1.9USAA Tax-Exempt Interm-Term (USATX) MB/IT 13.00 1 3 1 -3.2 -3.9 -4.1 -1.7 3.1 4.6 4.1 32.0 -3.4 3.4USAA Tax-Exempt Long Term Fund (USTEX) MB/LT 12.80 ▲ 1 ▲ 3 ▲ 1 -5.7 -6.5 -6.8 -4.0 3.1 4.4 4.0 36.9 -9.1 4.0USAA Virginia Bond (USVAX) MS/VA 10.67 ▼ 2 3 2 -5.9 -6.4 -6.8 -4.8 2.3 3.6 4.0 27.1 -0.1 3.9Vanguard CA Interm-Term T-E Inv (VCAIX) MC/IT 11.09 1 3 3 -3.5 -3.8 -4.4 -2.0 2.8 4.2 3.6 24.6 2.1 3.2Vanguard CA Long-Term T-E Inv (VCITX) MC/LT 11.01 3 3 3 -5.9 -6.2 -7.0 -4.1 2.7 4.0 3.9 27.4 -2.2 3.9Vanguard High-Yield Tax-Exempt Inv (VWAHX) MB/HY 10.35 1 3 1 -5.9 -6.5 -6.9 -4.2 2.7 4.4 3.9 34.7 -7.8 3.9Vanguard Interm-Term Tax-Exempt Inv (VWITX) MB/IT 13.54 2 3 3 -3.9 -3.9 -4.6 -2.8 2.2 4.1 3.5 22.6 1.9 3.0Vanguard Ltd-Term Tax-Exempt Inv (VMLTX) MB/IT 10.96 ▲ 2 1 4 -0.6 -0.9 -1.1 -0.3 1.3 2.4 2.5 11.6 3.6 1.6Vanguard NY Long-Term T/E Inv (VNYTX) MY/LT 10.87 3 3 3 -5.7 -5.6 -6.5 -4.5 2.0 3.8 3.6 23.3 1.0 3.5Vanguard OH Long-Term Tax-Exmpt Fd (VOHIX) MS/OH 11.62 3 3 3 -6.3 -6.2 -7.0 -5.0 1.9 3.9 3.8 23.6 2.3 3.7Vanguard PA Long-Term Tax-Exmpt Inv (VPAIX) MS/PA 10.80 2 3 3 -5.6 -5.7 -6.4 -4.4 2.1 3.9 3.8 23.7 0.6 3.7Vanguard Short-Term Tax-Exempt Inv (VWSTX) MB/ST 15.82 ▲ 2 1 5 0.0 -0.2 -0.2 0.2 0.8 1.5 1.8 5.9 3.6 0.9Victory National Muni A (VNMAX) Y MB/LT 10.89 3 3 3 -3.3 -2.8 -3.8 -2.8 1.5 4.0 3.9 20.2 5.3 1.7Waddell & Reed Adv Muni Bond A (UNMBX) Y MB/LT 7.23 1 3 2 -4.6 -5.3 -5.5 -3.6 2.7 5.0 4.4 28.2 3.5 3.1Wells Fargo Adv CA Tax-Free A (SCTAX) Y MC/LT 10.92 1 3 2 -4.2 -5.0 -5.5 -1.8 3.7 4.8 4.4 31.2 -2.3 3.5Wells Fargo Adv Intrm Tx/AMT-Fr Inv (SIMBX) MB/IT 11.08 1 3 2 -3.7 -4.0 -4.5 -2.3 2.8 4.2 4.6 28.9 -1.0 2.4Wells Fargo Adv Muni Bond Fund Inv (SXFIX) MB/LT 9.66 1 3 1 -4.9 -5.9 -5.9 -2.7 3.8 5.3 5.5 42.2 -6.4 2.6Wells Fargo Adv Sh-Tm Muni Bd Inv (STSMX) MB/ST 9.95 2 1 4 0.1 -0.5 -0.2 0.6 1.8 2.9 3.2 16.5 2.0 1.0Wells Fargo Adv Ultra S-T Muni Inv (SMUAX) MB/LT 4.83 ▲ 2 1 5 0.2 0.1 0.1 0.3 0.8 1.8 2.2 7.6 5.4 0.2Westcore CO Tax Exempt (WTCOX) MS/CO 11.03 3 3 3 -4.7 -4.4 -5.0 -3.6 1.8 3.7 3.5 20.3 2.9 3.0Western Asset Interm-Term Muni A (SBLTX) Y MB/IT 6.34 2 3 3 -5.2 -5.7 -6.1 -3.9 2.4 3.8 3.7 26.2 0.0 2.9Western Asset Managed Municipals A (SHMMX) Y MB/LT 15.60 ▼ 3 4 2 -7.4 -7.9 -8.4 -5.7 3.2 4.5 4.5 34.0 -1.3 3.6

TAX-FREE BOND


Avg.Mat. Avg. Avg. Avg. % invested in Max. Sales Expense Min. MgrYrs. Duration Qual. Coupon Cash Bds Crts Stks Other Charge Ratio Initial Inv. Fund Manager Year Rating 2 Telephone


S E P T E M B E R 2 0 1 3 3 7


7 7 AA - - 98 - - 2 None 0.46 10000 Kevin Ramundo 6/10 - 800 544-6666 5 5 AA - - 97 - - 3 None 0.49 10000 Kevin Ramundo 6/10 - 800 544-6666 6 7 AA - 0 99 - - 1 None 0.46 10000 Jamie Pagliocco 1/09 - 800 544-6666 6 7 A 5.3 - 98 - - 2 None 0.48 10000 Jamie Pagliocco 2/09 - 800 544-6666 6 7 AA - - 98 - - 2 None 0.47 10000 Mark Sommer 6/02 - 800 544-6666 6 7 AA - - 99 - - 1 None 0.49 10000 Jamie Pagliocco 7/06 - 800 544-6666 6 7 AA - - 98 - - 2 None 0.49 10000 Mark Sommer 6/02 - 800 544-6666 3 3 AA - 1 97 - - 1 None 0.48 10000 Team Managed - - 800 544-6666 10 6 A 5.1 - 99 - - 1 2.25 0.63 1000 John Wiley 9/92 - 800 632-2301 23 11 BBB 5.8 - 99 - - 1 None 1.16 1000 John Wiley 5/96 - 800 632-2301 20 10 A 5.4 - 99 - - 1 4.25 0.57 1000 John Wiley 8/91 - 800 632-2301 9 6 AA 5.1 - 99 - - 1 2.25 0.65 1000 John Pomeroy 9/92 - 800 632-2301 20 9 A 5.4 - 99 - - 1 4.25 0.61 1000 Team Managed - - 800 632-2301 21 10 BBB 5.9 - 99 - - 1 4.25 0.65 1000 Team Managed - - 800 632-2301 21 9 AA 5.2 - 98 - - 2 None 1.15 1000 John Pomeroy 5/95 - 800 632-2301 18 6 A 5.2 - 99 - - 1 4.25 0.62 1000 John Wiley 9/91 - 800 632-2301 - - - - 1 98 - - 1 None 0.18 500 Michael J. Caufield 1/80 - 800 242-0134 7 4 A 4.8 - 99 - - 1 1.00 0.35 1000 Team Managed - - 800 959-4246 13 6 A 4.4 - 99 - - 1 4.25 1.01 500 Bryan J. Bailey 8/08 - 800 777-6472 5 4 A 5.1 3 95 - - 1 2.50 0.81 1000 Geoffrey L. Schechter 1/00 - 800 225-2606 14 8 AA 5.2 13 90 - - -3 None 0.45 2500 Timothy T.A. McGregor 11/98 - 800 595-9111 9 5 A - - 98 - - 2 3.00 0.70 3000 Paul L. Brennan 1/07 - 800 257-8787 5 4 AA - - 99 - - 1 2.50 0.66 3000 Paul L. Brennan 8/06 - 800 257-8787 18 8 BBB 5.6 - 99 - - 1 4.00 0.86 2500 Robert Tipp 11/04 - 800 225-1852 - 8 AA 4.9 - 99 - - 1 4.00 0.77 500 Team Managed - - 800 225-1581 5 6 AA 5.3 9 95 - - -4 None 0.62 0 Ronald Schwartz 10/93 - 888 784-3863 - - - - - 99 - - 1 None 0.71 1000 Stephen C. Rogers 12/03 - 800 955-9988 7 6 BBB 5.5 2 92 - - 6 None 0.80 5000 Team Managed - - 800 332-5580 17 5 A 5.0 - 100 - - - None 0.46 2500 Hugh D. McGuirk 3/00 - 800 225-5132 19 5 A 5.1 - 100 - - - None 0.49 2500 Konstantine B. Mallas 4/00 - 800 225-5132 19 6 A 5.2 - 99 - - 1 None 0.50 25000 Konstantine B. Mallas 2/99 - 800 225-5132 22 6 BBB 5.6 - 100 - 0 - None 0.67 2500 James M. Murphy 1/02 - 800 225-5132 18 5 A 5.2 - 100 - 0 - None 0.51 2500 Konstantine B. Mallas 12/07 - 800 225-5132 3 3 AA 4.7 - 100 - - - None 0.49 2500 Charles B. Hill 12/97 - 800 225-5132 18 5 AA 5.0 - 100 - 0 - None 0.47 2500 Hugh D. McGuirk 2/97 - 800 225-5132 4 3 AA 4.5 - 99 - - 1 1.50 0.70 5000 Team Managed - - 800 847-0200 16 8 A 5.1 - 99 - - 1 None 0.56 3000 John C. Bonnell 8/06 - 800 531-8181 3 2 BBB 3.8 - 100 - - 0 None 0.55 3000 Regina G. Shafer 6/03 - 800 531-8181 9 6 A 4.8 - 100 - - 0 None 0.54 3000 Regina G. Shafer 6/03 - 800 531-8181 15 8 A 5.2 - 99 - - 1 None 0.53 3000 John C. Bonnell 8/06 - 800 531-8181 6 4 A 5.2 - 99 - - 1 None 0.57 3000 John C. Bonnell 8/06 - 800 531-8181 6 6 AA 4.4 - 101 - - -1 None 0.40 3000 James M. D’Arcy 1/11 - 800 662-7447 10 7 A 4.5 - 101 - - -1 None 0.40 3000 James M. D’Arcy 1/11 - 800 662-7447 7 6 A 4.9 1 101 - - -2 None 0.20 3000 Mathew M. Kiselak 12/10 - 800 662-7447 6 5 AA 4.8 1 98 - - 1 None 0.20 3000 Michael G. Kobs 7/08 - 800 662-7447 3 2 AA 3.8 2 99 - - 0 None 0.20 3000 Marlin G. Brown 2/08 - 800 662-7447 7 6 AA 4.7 - 101 - - -1 None 0.40 3000 Michael G. Kobs 7/08 - 800 662-7447 9 7 AA 5.0 - 101 - - -1 None 0.32 3000 Marlin G. Brown 3/08 - 800 662-7447 8 7 AA 4.8 - 100 - - 0 None 0.40 3000 James M. D’Arcy 12/11 - 800 662-7447 1 1 AA 2.4 1 101 - - -1 None 0.20 3000 Pamela Wisehaupt Tynan 12/96 - 800 662-7447 5 5 AA 4.7 1 95 - - 3 2.00 0.98 2500 Paul A. Toft 9/94 - 800 539-3863 13 6 A 4.7 0 99 - - 1 4.25 0.86 500 Bryan J. Bailey 6/00 - 888 923-3355 7 8 A 4.4 0 100 - 0 0 4.50 0.82 1000 Team Managed - - 800 359-3379 6 5 A 4.1 1 99 - 0 -1 None 0.85 2500 Lyle J. Fitterer 7/01 - 800 359-3379 8 8 A 4.0 0 99 - 1 1 None 0.83 2500 Lyle J. Fitterer 3/00 - 800 359-3379 2 1 A 2.3 1 99 - 0 0 None 0.81 2500 Lyle J. Fitterer 3/00 - 800 359-3379 1 AA 1.4 1 99 - 0 0 None 0.78 2500 Lyle J. Fitterer 11/95 - 800 359-3379 6 6 AA - 3 96 - - 1 None 0.65 2500 Thomas B. Stevens 5/99 - 800 392-2673 8 6 A 4.7 - 99 - - 1 2.25 0.73 1000 Team Managed - - 800 822-5544 13 8 A 5.2 - 99 - - 1 4.25 0.65 1000 Team Managed - - 800 822-5544

TAX-FREE BOND


3 8 S E P T E M B E R 2 0 1 3


YEAR-TO-DATE

BEST PERFORMING GENERAL EQUITY FUNDS AS OF 8/30/13

Inv. Value Line Rank Tot. Ret.Fund Obj./Peer Risk Overall %

Lord Abbett Micro Cap Growth I SC/GW 5 3 49.6

Rydex Russell 2000 2x Strategy A AG/SB 5 3 44.3

RidgeWorth Agg Growth Stock A AG/LG 5 3 41.4

ProFunds UltraSmall-Cap Inv SC/SB 5 3 40.8

Direxion Mo Sm Cap Bull 2X Fd SC/SB 5 3 40.8

IPO Plus Aftermarket Fund SC/SG 4 4 39.4

Eventide Gilead Fund N GR/MB 4 2 38.6

Legg Mason Cap Mgmt Opp Tr C GR/MV 5 3 37.8

Rydex NASDAQ-100 2X Strategy H GR/XL 5 3 35.8

PRIMECAP Odyssey Aggressive Growth AG/MG 4 1 35.7

1 YEAR


5 YEARS


10 YEARS


Legg Mason Cap Mgmt Opp Tr C GR/MV 5 3 62.8

Direxion Mo Sm Cap Bull 2X Fd SC/SB 5 3 54.6

ProFunds UltraSmall-Cap Inv SC/SB 5 3 54.0

Rydex Russell 2000 2x Strategy A AG/SB 5 3 52.7

Lord Abbett Micro Cap Growth I SC/GW 5 3 50.3

Adams Small Cap Value Fund Inc SC/VL 4 1 49.5


ProFunds UltraMid-Cap Inv GR/MG 5 3 46.4

RidgeWorth Agg Growth Stock A AG/LG 5 3 44.4

IPO Plus Aftermarket Fund SC/SG 4 4 43.7

Delaware Pooled Focus Smid-Cap Gr E SC/GW 3 2 18.0

AllianzGI Ultra Micro Cap Inst SC/SG 5 2 17.1

ProFunds Consumer Serv Ultra Inv AG/LG 5 1 16.9

Fidelity Small Cap Discovery Fd SC/SG 4 1 16.8

Buffalo Emerging Opportunities Fund SC/SG 4 1 16.8

Hotchkis and Wiley Value Opps A GR/VL 4 1 16.7

Robeco BP Long/Short Eq Inv GR/LS 1 2 16.7

PRIMECAP Odyssey Aggressive Growth AG/MG 4 1 16.6

Reynolds Blue Chip Growth Fund GR/LG 4 3 16.4


YEAR-TO-DATE

WORST PERFORMING GENERAL EQUITY FUNDS AS OF 8/30/13


1 YEAR


5 YEARS


10 YEARS


Pacific Advisors Small Cap A SC/SV 5 3 14.2

Fidelity Select IT Services GR/GW 4 1 13.3

JPMorgan Small Cap Equity Fund A SC/SB 3 1 12.8

Transamerica Syst Sm/Mid Cap Val A SC/SV 4 2 12.7

Hancock Horizon Burnkenroad D IN/MB 3 1 12.5

Artisan Mid Cap Value Fund Inv GR/MV 3 1 12.3

Baron Partners Fund Retail AG/MG 4 2 12.3

Dreyfus Opportunistic Small Cap SC/SV 5 3 12.1

T. Rowe Price New Horizons SC/SG 3 1 12.1

Robeco BP Long/Short Eq Inv GR/LS 1 2 12.1

Rydex Inverse Russl 2000 2x Strat A GR/BM 5 5 -37.3

ProFunds UltraShort Small-Cap Svc SC/BM 5 5 -35.7

Direxion Mo Sm Cap Bear 2X Fd SC/BM 5 5 -35.0

ProFunds UltraShort Mid-Cap Svc SC/BM 5 5 -31.5

Rydex Inverse NASDAQ-100 2X Str H AG/BM 5 5 -31.2

Encompass Fund SC/SB 5 5 -30.9

Rydex Inverse S&P 500 2x Str H GR/BM 5 5 -30.7

ProFunds UltraShort NASDAQ-100 Inv AG/BM 5 5 -29.3

ProFunds UltraBear Fund Inv AG/BM 5 5 -28.7

Rydex Inverse Dow 2X A AG/BM 5 5 -28.6





Encompass Fund SC/SB 5 5 -39.1

ProFunds UltraShort Intl Inv AG/BM 5 5 -34.7



ProFunds UltraShort Dow 30 Inv AG/BM 5 5 -30.1

Rydex Inverse Dow 2X A AG/BM 5 5 -29.5







ProFunds UltraShort Intl Inv AG/BM 5 5 -31.0



ProFunds UltraShort Dow 30 Inv AG/BM 5 5 -28.7






ProFunds Short Small Cap Svc SC/BM 4 5 -14.4

Leuthold Grizzly Short Fund AG/BM 4 5 -11.3

Rydex Inverse NASDAQ-100 Str Inv GR/BM 3 5 -11.1

ProFunds Bear Fund Inv GR/BM 2 5 -9.2

Rydex Inverse S&P 500 Str Inv AG/BM 2 5 -8.3

g y g y

(These fund screens are derived from our entire 19,000+ fund database.)


© 2013 Value Line Publishing LLC. All r ights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOTRESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmittedin any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

S E P T E M B E R 2 0 1 3 3 9


YEAR-TO-DATE

BEST PERFORMING SPECIAL EQUITY FUNDS AS OF 8/30/13


ProFunds Biotech Ultra Sector Svc HL/LG 5 2 68.5

Firsthand Alternative Energy EN/MG 5 4 58.1

Franklin Biotechnology Discovery A HL/MG 4 1 48.1

Fidelity Select Biotechnology HL/MG 4 1 46.6

Fidelity Adv Biotechnology I HL/MG 4 1 45.6

Eventide Healthcare&Life Sciences A HL/LG - - 42.6

Guinness Atkinson Alternat Energy EN/GW 5 4 41.3

ProFunds Internet UltraSector Svc TC/MG 5 3 40.2

Rydex Biotechnology Inv HL/MG 4 2 39.4

ProFunds HealthCare UltraSector Svc HL/LB 4 1 37.4

1 YEAR


5 YEARS


10 YEARS



ProFunds Bnks UltraSect Inv FS/LV 5 4 55.0

Fidelity Select Automotive OT/LV 5 3 53.6



Guinness Atkinson Alternat Energy EN/GW 5 4 50.2


Delaware Healthcare A HL/LB 3 1 46.0

Firsthand Alternative Energy EN/MG 5 4 45.9



Delaware Healthcare A HL/LB 3 1 20.5




Fidelity Select Retailing OT/LG 3 1 19.0

Rydex Biotechnology Inv HL/MG 4 2 18.2

Prudential Jennison Health Scien A HL/MG 3 1 17.3


T. Rowe Price Health Sciences HL/MG 3 1 17.0

YEAR-TO-DATE

WORST PERFORMING SPECIAL EQUITY FUNDS AS OF 8/30/13


1 YEAR


5 YEARS


10 YEARS


T. Rowe Price Media & Telecomm TC/LG 3 2 16.5

Prudential Jennison Health Scien A HL/MG 3 1 16.3

Fidelity Select Chemicals OT/LB 5 2 15.6

T. Rowe Price Health Sciences HL/MG 3 1 14.5

CGM Realty Fund RE/MG 4 4 14.5

ICON Energy S EN/LV 5 4 14.5


ProFunds Energy UltraSector Inv EN/LB 5 4 14.2

Van Eck Global Hard Assets A PM/LG 5 5 14.0

Fidelity Select Medical Delivery HL/LG 3 2 13.8

ProFunds Precious Metals Ultra Svc PM 5 5 -47.2

Dynamic Gold & Precious Metals I PM/MG 5 5 -39.1

US Global Inv World Prec Mnrls PM/MG 5 5 -37.5

Oppenheimer Gold & Spec Min A PM/MG 5 5 -37.0

USAA Precious Metals&Minerals PM/LG 5 5 -36.8

American Century Global Gold Inv PM/LG 5 5 -36.5

DWS Gold & Prec Metals S PM/LG 5 5 -36.3

Fidelity Select Gold Portfolio PM/LG 5 5 -36.2

Franklin Gold & Prec Metals A PM/MG 5 5 -35.8

Gabelli Gold Fund AAA PM/LG 5 5 -35.7


Dynamic Gold & Precious Metals I PM/MG 5 5 -40.3

Oppenheimer Gold & Spec Min A PM/MG 5 5 -39.5

Fidelity Select Gold Portfolio PM/LG 5 5 -38.5

USAA Precious Metals&Minerals PM/LG 5 5 -38.3

American Century Global Gold Inv PM/LG 5 5 -38.0

US Global Inv World Prec Mnrls PM/MG 5 5 -37.7

DWS Gold & Prec Metals S PM/LG 5 5 -37.2

Gabelli Gold Fund AAA PM/LG 5 5 -36.4

Tocqueville Gold Fund PM/MG 5 5 -36.1

Direxion Mo S&P 500 Bear 2X Inv OT/BM 5 5 -30.4

ProFunds Short Real Estate Inv RE/BM 3 5 -25.1

Guinness Atkinson Alternat Energy EN/GW 5 4 -20.8


Calvert Global Alternative Energy A EN/MB 5 4 -16.3

ProFunds Short Oil & Gas Inv EN/BM 5 5 -16.1

Profunds Short Precious Metals Inv PM/BM 5 4 -15.6

Midas Fund PM/MB 5 5 -14.9

ProFunds Bnks UltraSect Inv FS/LV 5 4 -13.9

ProFunds Mobile Telecom UltrSec Svc TC/MG 5 4 -12.4

ProFunds Bnks UltraSect Inv FS/LV 5 4 -11.2

ProFunds Mobile Telecom UltrSec Svc TC/MG 5 4 -7.9


ProFunds Financial UltraSector Svc FS/LV 5 3 -6.4

ProFunds Semicond UltraSector Svc TC/LG 5 3 -5.6

Fidelity Select Consumer Finance FS/MV 3 2 -4.9

Rydex Banking Inv FS/LV 5 4 -3.0

Rydex Electronics Adv TC/MG 5 4 -2.4

Saratoga Adv Tr-Financial Service I FS/LB 4 3 -0.9

Midas Fund PM/MB 5 5 0.1




4 0 S E P T E M B E R 2 0 1 3


YEAR-TO-DATE

BEST PERFORMING INTERNATIONAL EQUITY FUNDS AS OF 8/30/13


ProFunds UltraJapan Inv PB/JP 5 4 43.4

ProFunds UltraShort Latin Amer Inv FO/BM 5 5 40.3

Fidelity Japan Smaller Companies PB/JP 5 3 35.8

Kinetics Small Cap Opport NL GL/SG 4 2 32.3

Oberweis China Opportunities PB/NJ 5 3 29.0

Oberweis Int’l Opportunities FO/SG 5 2 26.5

J Hancock2 Technical Oppt A GL/LG 3 3 25.5

Oppenheimer Global Value A GL/VL 4 2 22.9

Kinetics Paradigm Fund NL GL/LG 4 3 22.7

MFS Equity Opportunities A GL/LG 3 2 22.3

1 YEAR


5 YEARS


10 YEARS


ProFunds UltraJapan Inv PB/JP 5 4 97.0

Oberweis China Opportunities PB/NJ 5 3 51.7

Kinetics Small Cap Opport NL GL/SG 4 2 44.8

MSIF Global Discovery H GL/LG - - 43.7

Oberweis Int’l Opportunities FO/SG 5 2 43.4

ProFunds UltraChina Inv PB/NJ 5 4 42.2

Fidelity Japan Smaller Companies PB/JP 5 3 40.5

Ivy Cundill Global Value A GL/LV 4 3 36.6

Rydex Japan 2x Strategy A PB/JP 5 4 35.6

Oakmark International I FO/LV 4 3 35.6

Wasatch International Opportunities FO/SG 4 3 13.1

Wasatch International Growth FO/MG 4 3 13.1

Oppenheimer Intl Small Company A FO/SB 4 2 12.9

Oakmark Global Select Fund GL/LB 3 2 12.7

Westcore Intl Small-Cap Fund FO/SG 3 3 12.1

Matthews Asia Dividend Fd Inv PB/LB 2 3 11.2

Invesco Asia Pacific Growth A PB/NJ 3 3 11.1

Oppenheimer Global Value A GL/VL 4 2 10.9

Thornburg International Growth A FO/LG 3 1 10.9

DFA United Kingdom Small Company EU/SG 4 2 10.9

YEAR-TO-DATE

WORST PERFORMING INTERNATIONAL EQUITY FUNDS AS OF 8/30/13


1 YEAR


5 YEARS


10 YEARS


T. Rowe Price Latin America FO/LA 5 5 16.3

Oppenheimer Intl Small Company A FO/SB 4 2 16.1

Invesco European Small Company C EU/SB 4 3 15.9

BlackRock Latin America B FO/LA 5 5 15.8

Oppenheimer Developing Mkts C FO/EM 4 4 15.3

DFA Emerging Markets Value I FO/EM 5 5 14.9

Fidelity Latin American Fund FO/LA 5 5 14.9

Driehaus Emerging Markets Growth FO/EM 4 4 14.8

DFA Emerging Markets Small Cap I FO/SB 5 4 14.8

Invesco Intl Small Company A FO/SB 3 4 14.7

Dreyfus India Fund A PB/NJ - - -47.4

ProFunds UltraShort Japan Inv PB/BM 5 5 -46.9

Direxion Mo Latin Amer Bull 2X Inv FO/LA 5 5 -37.1

ProFunds UltraLatin America Inv FO/LA 5 5 -37.0

Eaton Vance Greater India B PB/NJ 5 5 -29.3

Direxion Mo Emerg Mkts Bull 2X Inv FO/EM 5 5 -27.3

Nomura Partners India Fund A PB/NJ 5 5 -26.9

ProFunds UltraEmerg Markets Inv FO/EM 5 5 -26.6

ProFunds UltraShort China Inv PB/BM 5 5 -25.9

Rydex Emerging Market 2X Strat A FO/EM - - -25.7



Dreyfus India Fund A PB/NJ - - -35.7



Eaton Vance Greater India B PB/NJ 5 5 -17.4

Fidelity Latin American Fund FO/LA 5 5 -15.8

Rydex Emerging Market 2X Strat A FO/EM - - -15.3


JPMorgan India Fund A PB/NJ 5 5 -14.9

ProFunds UltraShort Latin Amer Inv FO/BM 5 5 -39.2


ProFunds UltraShort Emkt Inv FO/BM 5 5 -32.7




Direxion Mo China Bull 2X Inv PB/NJ 5 5 -21.0


Direxion Mo Emerg Mkts Bull 2X Inv FO/EM 5 5 -17.1

ProFunds UltraJapan Inv PB/JP 5 4 -12.5

ProFunds UltraJapan Inv PB/JP 5 4 -4.1

Commonwealth Japan Fund PB/JP 2 4 -0.9

ING International Index A FO/XI 4 4 1.4

Wilmington Multi-Manager Intl A FO/LB 5 5 2.7

Rydex Europe 1.25X Strategy Fd H EU/LS 5 5 2.9

Selected International Fund S FO/LB 4 5 3.4

Bernstein Tax-Managed Intl Port FO/LB 4 5 3.5

Allnc-Bernstein Intl Port FO/LB 4 5 3.6

AllianceBernstein Glbl Thmtc Gr A GL/LG 5 5 3.6

Saratoga International Equity C FO/LB 4 5 3.6




S E P T E M B E R 2 0 1 3 4 1


YEAR-TO-DATE

BEST PERFORMING PARTIAL EQUITY FUNDS AS OF 8/30/13


Direxion Mo NASDAQ-100 Bull 2X Inv AA/LB 5 3 33.1

Direxion Mo S&P 500 Bull 2X Inv AA/LG 5 2 31.6

The Fairholme Allocation Fund AA/LV - - 23.6

J Hancock3 Leveraged Companies A FL/MV 5 3 19.3

Managers AMG Sys Value Inst AA/LV 4 3 19.0

Catalyst/Lyons Tactical Alloc A AA/MB - - 18.9

Weitz Value Fund AA/VL 2 1 18.8

Brown Advisory Flexible Val Adv FL/GW 2 1 18.4

FBP Appreciation & Income Opp Fund BA/LV 2 3 18.4

Chou Income Opportunity Fund AA/GL - - 18.1

1 YEAR


5 YEARS


10 YEARS



Chou Equity Opportunity Fund AA/GL - - 36.5

Direxion Mo S&P 500 Bull 2X Inv AA/LG 5 2 36.0

Chou Income Opportunity Fund AA/GL - - 28.6

Putnam Capital Spectrum A AA/MV 2 1 27.4

API Efficient Frontr Growth C AA/MG 3 1 24.4

PIMCO Fundamental IndexPLUS TR A AA/LB 3 1 23.7


Direxion Mo NASDAQ-100 Bull 2X Inv AA/LB 5 3 22.6

Managers AMG Sys Value Inst AA/LV 4 3 22.3

Marsico Flexible Capital Fund AA/LG 3 1 15.2

PIMCO Fundamental IndexPLUS TR A AA/LB 3 1 15.2

Villere Balanced Fund BA/MG 2 1 13.1

Marketfield Fund FL/LS 1 3 10.7

Bruce Fund FL/MV 1 2 10.5

Delaware Select 20 Portfolio AA/MG 2 2 9.9

Invesco Convertbl Sec Tr B CV/VL 2 3 9.6



Weitz Value Fund AA/VL 2 1 9.4

YEAR-TO-DATE

WORST PERFORMING PARTIAL EQUITY FUNDS AS OF 8/30/13


1 YEAR


5 YEARS


10 YEARS


Bruce Fund FL/MV 1 2 13.3

Waddell & Reed Adv Asset Strat A FL/LG 4 4 12.0

Ivy Asset Strategy C FL/LG 4 4 10.9

GMO Benchmark-Free Allocation III AA/GL 1 3 10.1

Natixis Loomis Sayles Glb Eq&Inc Y AA/GL 3 3 10.1

Lifetime Achievement AA/MB 3 4 9.5

Villere Balanced Fund BA/MG 2 1 9.4

GMO International Equity Alloc III AA/LB 3 5 9.3

Permanent Portfolio Fund AA/LB 2 4 8.9

Buffalo Flexible Income Fund BA/LV 1 2 8.8

TEAM Asset Strategy Fund AA/LG 5 5 -59.1

ProFunds Short NASDAQ 100 Svc AA/BM 3 5 -17.9

PIMCO StockPlus TR Short Strat A AA/BM 2 5 -16.0

PIMCO StocksPLUS Short Str Inst AA/BM 2 5 -15.6

Gabelli Comstock Capital Value A FL/BM 3 5 -15.3

Old Westbury Real Return FL/GW 3 5 -11.1

PIMCO Global Multi-Asset A AA/GL 2 5 -9.8

Hartford Portfolio Diversifier HLS FL/VL - - -9.0

Timothy Plan Defensive Strat A AA/MB 2 4 -8.8

Midas Perpetual Portfolio AA/GL 2 5 -8.6

TEAM Asset Strategy Fund AA/LG 5 5 -68.2






MutualHedge Frontier Legends A AA/AB 1 4 -12.4

ASG Diversifying Strategies A AA/AB 2 5 -12.0

Princeton Futures Strategy A AA/AB 1 4 -11.3

SunAmerica Alternative Strategies A AA/MU 2 5 -10.3






GAMCO Mathers Fund AAA FL/SB 1 4 -4.7

Guggenheim Mgd Futures Strat A AA/AB 1 4 -3.6

Arrow Alternative Solutions A AA/AB 1 4 -3.3

US Global MegaTrends FL/MG 3 4 -1.9

Vanguard Market Neutral I AA/MK 1 3 -1.9



GAMCO Mathers Fund AAA FL/SB 1 4 -1.7


JPMorgan Multi-Cap Mkt Neutral A AA/MK 1 3 1.2

Chaconia UTC North American Fund AA/GL 2 4 1.8

Vanguard Market Neutral I AA/MK 1 3 2.0

GMO U.S. Equity Allocation Fund III AA/GW 2 3 2.6

IMS Strategic Income Fund BA/MV 1 3 2.9

Forward Growth Alloc C AA/LB 2 5 3.0




4 2 S E P T E M B E R 2 0 1 3


YEAR-TO-DATE

BEST PERFORMING TAXABLE FIXED INCOME FUNDS AS OF 8/30/13


The Fairholme Focused Income Fund CH/IT 5 3 23.5

Toreador Core Fund Retail DB/LB 5 3 20.7

Rydex Inverse Gov Long Bond Inv GS/BM 5 4 14.8

ProFunds Rising Rates Opport Svc GS/BM 5 4 13.8

Direxion Mo 7-10Yr Treasure Bear 2X GS/BM 5 5 9.8

Northeast Investors Trust CH/IT 4 2 9.5

Third Avenue Focused Credit Inv CH/IT 5 3 9.3

Highland Floating Rate Opport A CG/IT - - 8.8

Fidelity Strategic Advrs Intl CH/IT 5 3 8.1

RBC BlueBay Global Convertible Bd I IB/GL - - 8.0

1 YEAR


5 YEARS


10 YEARS


Toreador Core Fund Retail DB/LB 5 3 33.1

Rydex Inverse Gov Long Bond Inv GS/BM 5 4 19.0

Fidelity Strategic Advrs Intl II CH/IT 5 3 18.8

Fidelity Strategic Advrs Intl CH/IT 5 3 18.6

The Fairholme Focused Income Fund CH/IT 5 3 17.9

ProFunds Rising Rates Opport Svc GS/BM 5 4 17.8

Third Avenue Focused Credit Inv CH/IT 5 3 16.3

Northeast Investors Trust CH/IT 4 2 15.1

Highland Floating Rate Opport A CG/IT - - 14.8

MSIFT High Yield Port H CH/IT - - 14.4

American Century ZeroCoupon 2020 In GS/20 5 3 13.1

MainStay High Yield Opportun A CH/IT 5 2 12.4


Delaware Pooled High-Yield Bond CH/IT 5 2 11.9

PIMCO Income A DB/IT 3 1 11.9

UBS PACE High Yield P CH/IT 4 2 11.7

Delaware Extended Duration Bd A CG/LT 5 3 11.5

Ivy High Income E CH/IT 3 1 11.4

Federated High Yield Trust Svc CH/IT 5 2 11.4

Waddell & Reed Adv High Income A CH/IT 4 1 11.3

YEAR-TO-DATE

WORST PERFORMING TAXABLE FIXED INCOME FUNDS AS OF 8/30/13


1 YEAR


5 YEARS


10 YEARS



GMO Emerging Country Debt IV IB/EM 5 3 11.9


Loomis Sayles Instl High Income IB/GL 5 2 11.0

Delaware Pooled High-Yield Bond CH/IT 5 2 10.0

TCW Emerging Mkt Income I IB/FO 5 3 9.9

Goldman Sachs Emer Mkts Debt A IB/EM 5 3 9.7

Fidelity New Markets Income IB/EM 5 3 9.6

Fidelity Adv Emerging Mkts Inc T IB/EM 5 3 9.4

Fidelity Capital & Income Fund CH/IT 5 2 9.3

PIMCO Extended Duration Inst GS/LT 5 5 -17.2

ProFunds US Government Plus Svc GS/LT 5 5 -16.8

Vanguard Extended Dur Tre Idx I GS/LT 5 5 -16.4

PIMCO Real Return Asset Inst GS/AJ 5 4 -15.3

Payden Emerg Mkts Local Bond Adv IB/FO - - -14.0

Stone Harbor Local Market Fund IB/EM 5 4 -13.7

MSIF Emg Mrkts Domestic Debt I IB/EM 5 4 -13.6

PIMCO Emerging Local Bond Adm IB/EM 5 4 -13.5

Wasatch-Hoisington US Treasury GS/LT 5 5 -13.3

Acadian Emerging Markets Debt Inst DB/FO - - -13.3

PIMCO Extended Duration Inst GS/LT 5 5 -22.0

ProFunds US Government Plus Svc GS/LT 5 5 -21.7

Vanguard Extended Dur Tre Idx I GS/LT 5 5 -21.3

Delaware Inflation Protected Bond A GS/AJ 4 5 -18.7

Rydex Govt Long Bond 1.2x Str Inv GS/LT 5 5 -17.4

Wasatch-Hoisington US Treasury GS/LT 5 5 -16.9

PIMCO Commodity Real Ret Str A DB/CM 5 5 -15.4

Direxion Mo 7-10Yr Treasure Bull 2X GS/LT 5 5 -14.9

Vanguard Long-Term Treasury Inv GS/LT 5 5 -14.8

PIMCO Real Return Asset Inst GS/AJ 5 4 -13.8

ProFunds Access Flex Bear HiYld Inv CH/ST 5 5 -15.6

Direxion Mo 7-10Yr Treasure Bear 2X GS/BM 5 5 -14.9

ProFunds Rising Rates Opport Svc GS/BM 5 4 -14.4

Rydex Inverse High Yield Strategy A CH/BM 5 5 -13.5

Rydex Inverse Gov Long Bond Inv GS/BM 5 4 -10.3

ProFunds Rising Rates Opp 10 Inv GS/BM 4 5 -7.5

AMF Intermediate Mortgage Fund GM/IT 3 4 -5.1

PIMCO Commodity Real Ret Str A DB/CM 5 5 -5.0

AMF Ultra Short Fund GM/ST 2 3 -3.8

Rydex Weakening Dollar 2x Strat A GS/CU 5 5 -3.4

ProFunds Rising Rates Opport Svc GS/BM 5 4 -10.2

Rydex Inverse Gov Long Bond Inv GS/BM 5 4 -7.1

AMF Intermediate Mortgage Fund GM/IT 3 4 -3.4

AMF Ultra Short Fund GM/ST 2 3 -2.3

AllianceBernstein Sh Dur Plus A GS/ST 1 3 -0.5

Fidelity Ultra Short Bond Fund CG/ST 1 3 0.0

MSIFT Limited Duration Port I CG/ST 1 3 0.3

AMF Ultra Short Mortgage Fund GM/AJ 1 3 0.4

Wy Core Funds I GS/ST 1 3 0.5

Oppenheimer Core Bond A CG/IT 3 2 0.6




S E P T E M B E R 2 0 1 3 4 3


YEAR-TO-DATE

BEST PERFORMING MUNICIPAL BOND FUNDS AS OF 8/30/13


SEI AA Tr - Conserv Strat Alloc A MB/ST 5 2 7.7

American Funds Tax-Advant Income A MB/IT - - 3.3

Fidelity Municipal Income 2015 MB/15 - - 1.0

Jamestown VA Tax Exempt MS/VA 2 3 0.3

Fidelity Adv Muni Income 2015 I MB/15 - - 0.3

Nuveen Short Term Muni Bond I MB/ST 1 2 0.3

Alpine Ultra ShortTax Optm Inc Inst MB/ST 1 2 0.3

BMO Ultra Short Tax-Free Fund I MB/ST 1 2 0.2

BlackRock Short Term Muni I MB/ST 1 3 0.2

Colorado Bond Shrs Tax-Exmt A MS/CO 1 1 0.2

1 YEAR


5 YEARS


10 YEARS



American Funds Tax-Advant Income A MB/IT - - 7.0

Colorado Bond Shrs Tax-Exmt A MS/CO 1 1 1.2

Fidelity Municipal Income 2015 MB/15 - - 1.1

Wells Fargo Adv CA Ltd Term T/F A MC/LT 1 2 0.9

Jamestown VA Tax Exempt MS/VA 2 3 0.7

Nuveen Short Term Muni Bond I MB/ST 1 2 0.7

BMO Ultra Short Tax-Free Fund I MB/ST 1 2 0.6

Wells Fargo Adv Sh-Tm Muni Bd Inv MB/ST 1 2 0.6

USAA T/E Short Term Bond Fund MB/ST 1 2 0.5


Forward Lng/Shrt Cred Analysis Inst MB/HY 5 4 6.4

Franklin California H/Y Muni A MC/HY 4 3 5.5

Delaware National H/Y Muni A MB/HY 4 3 5.5

SEI T/E Tr-Tax Advantaged Income A MB/IT 4 2 5.5

Wells Fargo Adv Muni Bond Fund Inv MB/LT 3 1 5.3

Northern CA T/E Bond MC/LT 4 3 5.3

Sextant Bond Income Fund MB/LT 3 1 5.3

Nuveen CA Muni Bond Fund I MC/LT 3 1 5.2

JPMorgan Tax Aware High Income A MB/IT 3 1 5.2

YEAR-TO-DATE

WORST PERFORMING MUNICIPAL BOND FUNDS AS OF 8/30/13


1 YEAR


5 YEARS


10 YEARS


Wells Fargo Adv Muni Bond Fund Inv MB/LT 3 1 5.5

Franklin California H/Y Muni A MC/HY 4 3 5.0

Delaware National H/Y Muni A MB/HY 4 3 4.9

Waddell & Reed Adv Muni High Inc A MB/HY 3 1 4.9

T. Rowe Price Summit Muni Inc Rtl MB/LT 3 3 4.7

Nuveen CA Muni Bond Fund I MC/LT 3 1 4.7

Franklin High Yld Tax-Free Inc A MB/HY 4 3 4.7

American Century CA Hi-Yld Muni Inv MC/HY 3 2 4.6

MFS Municipal High Income Fund A MB/HY 4 3 4.6

Wells Fargo Adv Intrm Tx/AMT-Fr Inv MB/IT 3 1 4.6

Eaton Vance OR Muni B MS/OR 5 5 -14.0

Hancock Horizon LA Tax-Free Inc A MS/LA - - -13.4

Oppenheimer Rochester VA Muni A MS/VA 5 4 -13.3

Franklin Double Tax-Free Inc A MB/LT 5 5 -13.0

Forward Lng/Shrt Cred Analysis Inst MB/HY 5 4 -12.8

Oppenheimer Rochester MD Muni A MS/MD 5 3 -12.7

Hancock Horizon MS Tax-Free Inc A MS/MS - - -11.9

Eaton Vance National Muni B MB/LT 5 4 -11.8

AllianceBernstein High Inc Muni C MB/HY 5 4 -11.4

BlackRock High Yield Municipal A MB/HY 5 3 -11.3

Franklin Double Tax-Free Inc A MB/LT 5 5 -14.7

Eaton Vance OR Muni B MS/OR 5 5 -12.7

Hancock Horizon LA Tax-Free Inc A MS/LA - - -12.5

Oppenheimer Rochester VA Muni A MS/VA 5 4 -12.3

Oppenheimer Rochester MD Muni A MS/MD 5 3 -12.3

Hancock Horizon MS Tax-Free Inc A MS/MS - - -11.2

Forward Lng/Shrt Cred Analysis Inst MB/HY 5 4 -11.0

Oppenheimer NJ Municipal A MS/NJ 5 3 -10.6

Spirit of America High Yield T/F A MB/HY 4 4 -10.3

Oppenheimer Rochester AZ Muni A MS/AZ 5 3 -10.1

PIMCO Short Duration Muni Inc Inst MB/ST 1 2 -0.7

Saratoga Municipal Bond C MB/IT 3 3 0.2

AllianceBernstein Sh Dur CA Muni MC/ST 1 3 0.3

AllianceBernstein Sh Dur NY Muni MY/ST 1 3 0.7

AllianceBernstein Sh-Dur Dvrs Muni MB/ST 1 3 0.8

T. Rowe Price MD Sh-Term T/F MS/MD 1 2 1.0

Oppenheimer Rochester MI Muni A MS/MI 4 3 1.1

PIMCO CA Sh Dur Muni Income A MC/ST 1 2 1.1

Eaton Vance TN Muni B MS/TN 3 4 1.1

Thornburg Interm Muni-NM A MS/NM 3 4 1.2

Saratoga Municipal Bond C MB/IT 3 3 -0.1

Dreyfus State Muni Mass Fd Z MS/MA 3 4 0.2

AllianceBernstein Sh Dur CA Muni MC/ST 1 3 0.3

AllianceBernstein Sh Dur NY Muni MY/ST 1 3 0.5

AllianceBernstein Sh-Dur Dvrs Muni MB/ST 1 3 0.5

PIMCO Short Duration Muni Inc Inst MB/ST 1 2 0.6

Eaton Vance VA Muni B MS/VA 3 4 1.4

Eaton Vance TN Muni B MS/TN 3 4 1.4

Bernstein Muni Bd CA MC/LT 3 3 1.4

BlackRock Short Term Muni I MB/ST 1 3 1.6




4 4 S E P T E M B E R 2 0 1 3


INTERNATIONAL EQUITYSPECIAL EQUITY

MUNICIPAL BOND

Value LineRankInv.

Fund Obj./Peer Risk Overall

TAXABLE FIXED INCOME

Value LineRankInv.


PARTIAL EQUITY

Value LineRankInv.


Value LineRankInv.


Value LineRankInv.


HIGHEST RANKED FUNDS BY CATEGORY AS OF 8/30/13

GENERAL EQUITY

Value LineRankInv.


Nicholas Fund GR/LB 3 1

Vanguard Consumer Discret Index Adm GR/LG 3 1

Principal MidCap Blend A GR/MG 2 1

American Century NT MdCap Val Instl SC/MV 2 1

Weitz Partners III Opportunity GR/LB 3 1

ING Baron Small Cap Growth I SC/SG 3 1

Weitz Partners Value Fund GR/VL 2 1

Hennessy Focus Fund Inv GR/MG 3 1

Longleaf Partners Small-Cap Fund SC/SV 3 1

Vanguard Selected Value Fund GR/MV 3 1

Gabelli Asset AAA GI/MV 3 1

Oakmark Fund I GR/VL 3 1

Artisan Mid Cap Value Fund Inv GR/MV 3 1

Fidelity Low-Priced Stock SC/SV 3 1

Hennessy Focus Fund Inst GR/MG 3 1

Value Line Small Cap Opportunities SC/SG 3 1

Ave Maria Rising Dividend Fund GR/LB 2 1

T. Rowe Price New Horizons SC/SG 3 1

Weitz Hickory Fund GR/SV 3 1

ProFunds Consumer Serv Ultra Inv AG/LG 5 1

MFS Mid Cap Value Fund A GR/MV 3 1

ING JPMorgan Part Mid Cap Value I GR/MG 2 1

PRIMECAP Odyssey Stock Fund GR/LG 2 1

Baron Growth Fund Retail SC/MG 3 1

Putnam Equity Spectrum A SC/MB 3 1

Rydex Leisure Inv OT/LG 3 1

Delaware Healthcare A HL/LB 3 1

Fidelity Select Multimedia TC/LG 3 1

T. Rowe Price Health Sciences HL/MG 3 1

Fidelity Select Defense & Aerospace OT/LG 3 1

Fidelity Select Pharmaceuticals HL/LG 2 1

Saratoga Adv Tr-Health & Biotech A HL/LB 2 1

Fidelity Select Health Care HL/MG 3 1

Fidelity Adv Health Care T HL/MG 3 1

Live Oak Health Sciences HL/LB 2 1

Janus Global Life Sciences D HL/LG 3 1

VALIC Co I Health Sciences Fund HL/MG 3 1

Prudential Jennison Health Scien A HL/MG 3 1

ICON Consumer Discretionary S OT/LG 2 1

Schwab Health Care Fund HL/LG 2 1

Fidelity Select Consumer Inds OT/LG 3 1

Fidelity Select Retailing OT/LG 3 1

Kinetics Internet Fund NL TC/MG 3 1

Vanguard Health Care Index Adm HL/LB 2 1

Hartford Healthcare Fund Y HL/LG 3 1

Rydex Consumer Products Adv OT/LB 2 1

DWS Health Care Fund S HL/LG 3 1

Fidelity Select Leisure OT/MG 3 1

Waddell & Reed Adv Sci & Tech A TC/MG 3 1

BlackRock Health Sciences Opps A HL/LG 2 1

Artisan Global Value Inv GL/LB 2 1

Fidelity Mid Cap Value Fund GL/MV 3 1

Fidelity Mid-Cap Stock Fund GL/MB 3 1

American Funds New Economy A GL/LG 3 1

Thornburg International Growth A FO/LG 3 1

Fidelity Value Fund GL/VL 3 1

AllianzGI NFJ Mid-Cap Value Fd C GL/MV 3 1

Fidelity Series Broad Market Opprt GL/LG 3 1

Lazard Global List Infrastruct Inst GL/SB 2 1

Fidelity Series All Sector Eqty GL/LB 3 1

Guinness Atkinson Glob Innov Fund GL/LG 4 1

PMC Diversified Equity Fund GL/LB 3 2

MFS Equity Opportunities A GL/LG 3 2

Fidelity Adv Value Strategies T GL/MV 4 2

RS Investors A GL/VL 4 2

Polaris Global Value Fund GL/MV 3 2

AllianzGI Global Small-Cap D GL/SG 4 2

Fidelity Trend Fund GL/LG 3 2

DFA Global Equity I GL/VL 3 2

Fidelity Adv New Insights I GL/MB 2 2

Artisan Global Equity Inv GL/LG 3 2

Oberweis Int’l Opportunities FO/SG 5 2

DWS RREEF Global Infrastructure A GL/LB 2 2

AllianceBernstein Core Opportun A GL/LB 3 2

Oppenheimer Global Value A GL/VL 4 2

The Osterweis Strat Investment Fund AA/LB 2 1

Vanguard Target Retiremt 2055 Fd AA/55 3 1

PIMCO Fundamental IndexPLUS TR A AA/LB 3 1

Putnam Capital Spectrum A AA/MV 2 1

MFS Aggressive Gr Alloc I AA/GL 3 1

Vantagepoint Milestone 2045 Fund AA/45 3 1

Villere Balanced Fund BA/MG 2 1

Metropolitan West Alpha Trak 500 AA/LB 3 1

T. Rowe Price Retirement 2050 AA/50 3 1


PIMCO StocksPLUS Inst AA/LB 3 1

SEI AA Tr - Mkt Grth Strat Alloc A AA/LB 3 1



American Funds Tgt Dt Rtrmt 2055 A AA/55 2 1

Brown Advisory Flexible Val Adv FL/GW 2 1

SEI AA Tr-TM Aggressive Strategy A AA/GL 3 1

T. Rowe Price Spectrum Growth AA/LB 3 1

Weitz Value Fund AA/VL 2 1

Johnson Enhanced Return Fund AA/LB 3 1

Schwab Target 2040 AA/40 3 1

SEI AA Tr - Core Mkt Strat Alloc A AA/LB 3 1


Vantagepoint Milestone 2040 Fund AA/40 3 1

MFS Lifetime 2040 A AA/40 3 1

Frost Total Return Bond A CG/IT 2 1

DoubleLine Total Return Bond I GM/IT 2 1

The Osterweis Strategic Income Fund DB/FO 2 1

Cavanal Hill Intermed Bd I DB/IT 2 1

Loomis Sayles Securitzed Asset GM/IT 2 1

Cavanal Hill Intermed Bd Inv DB/IT 2 1

Metropolitan West Strategic Inc M CG/ST 2 1

Metropolitan West Intermed Bd M CG/IT 2 1

Performance Trust Total Return Bd GS/IT 3 1

TCW Total Return Bond N GM/IT 2 1

USAA Intermediate-Term Bond Fd CG/IT 3 1

Ivy High Income E CH/IT 3 1

Cavanal Hill Bond I CG/IT 2 1

Ivy High Income C CH/IT 3 1

Transamerica Flexible Income A CH/IT 3 1

Westcore Flexible Income CH/LT 3 1

Buffalo High Yield Fund CH/IT 3 1

Pioneer Bond Fund A CG/IT 2 1

ING Floating Rate Fund R GS/AJ 3 1

Waddell & Reed Adv High Income A CH/IT 4 1

Cavanal Hill Bond Inv CG/LT 2 1

CNI Charter High Yield Bond Svc CH/IT 4 1

JPMorgan Total Return A GM/IT 2 1

Metropolitan West Total Ret Bd M DB/IT 3 1

J Hancock3 Core High Yield Fd A CH/IT 4 1

USAA Tax-Exempt Interm-Term MB/IT 3 1

Oppenheimer Roch Limited Trm Muni A MB/HY 3 1

Wells Fargo Adv Muni Bond Fund Inv MB/LT 3 1

Wells Fargo Adv PA Tax-Free A MS/PA 3 1

American Funds T/E Bd of America A MB/LT 3 1

Delaware MN HY Muni Bond A MS/MN 3 1

T. Rowe Price MD Tax Free MS/MD 3 1

Waddell & Reed Adv Muni Bond A MB/LT 3 1

Oppenheimer Limited Term CA Muni A MC/IT 3 1

Wells Fargo Adv Intrm Tx/AMT-Fr Inv MB/IT 3 1

Sit MN Tax Free Income Fund MS/MN 3 1

American Funds Tax Exempt of CA A MC/LT 3 1

Lord Abbett Intermediate Tx-Fr F MB/IT 3 1

Dreyfus AMT-Free Muni Bond Z MB/LT 3 1

Columbia MN Tax Exempt Fund A MS/MN 3 1

JPMorgan Tax Aware High Income A MB/IT 3 1

Lord Abbett Tax Free Ins Interm A MB/IT 3 1

J Hancock CA Tax-Free Income A MC/LT 3 1

Invesco Interm-Term Muni Inc A MB/IT 3 1

BMO Intermediate Tax-Free Fund Y MB/IT 3 1

Fidelity CA Muni Income MC/LT 3 1

Waddell & Reed Adv Muni High Inc A MB/HY 3 1

Nuveen MO Muni Bond A MS/MO 3 1

Vanguard High-Yield Tax-Exempt Inv MB/HY 3 1

GW&K Municipal Bond Fund Instl MB/IT 3 1



S E P T E M B E R 2 0 1 3 4 5


CONSERVATIVE FUNDS WITH HIGH OVERALL RANKS AS OF 8/30/13

GENERAL EQUITY

SPECIAL EQUITY

Value LineRank

Inv.Fund Obj./Peer YTD 3 Mo. 6 Mo. 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs. Risk Overall

Hennessy Total Return Fund GI/LV 11.4 -0.6 4.8 10.4 13.2 6.9 5.3 1 2

Robeco BP Long/Short Eq Inv GR/LS 3.7 -2.6 0.5 8.4 15.0 16.7 12.1 1 2

The Cook & Bynum Fund GR/VL 6.8 -2.7 3.1 6.1 13.4 — — 1 2

Advisory Research All Cap Value GR/MV 18.7 1.4 10.3 20.4 16.3 — — 2 1

Akre Focus Retail GR/MG 19.7 0.2 12.7 24.7 22.6 — — 2 1

American Century Mid Cap Value Inst GR/MV 16.6 0.8 9.0 23.4 15.3 9.2 — 2 1

American Century NT MdCap Val Instl SC/MV 16.7 0.8 9.0 23.5 17.6 10.6 — 2 1

Asset Management Fd Lrg Cap Eqty H GI/LB 15.8 -0.8 7.2 15.8 15.7 — — 2 1

Ave Maria Rising Dividend Fund GR/LB 17.0 1.6 8.5 21.9 18.4 9.6 — 2 1

BBH Core Select Fund N GR/LB 14.6 0.9 7.1 18.4 18.6 9.8 9.4 2 1

BNY Mellon Income Stock Fund M GI/LB 17.6 1.5 10.4 24.1 18.7 7.8 7.8 2 1

Boyar Value Fund GR/LV 16.6 1.0 8.3 22.8 17.3 8.1 5.0 2 1

Bright Rock Quality Large Cap Inst GR/LB 17.0 1.4 9.1 18.2 16.5 — — 2 1

Calvert Large Cap Core Port A GR/LB 17.2 1.3 8.1 20.5 17.3 6.8 5.6 2 1

Clipper Fund GR/LV 17.8 -0.5 9.0 23.1 16.8 7.3 3.6 2 1

Columbia Dividend Opportunity A IN/LV 13.4 0.1 6.4 16.7 17.5 9.0 8.7 2 1

Davenport Core Fund GR/LG 15.3 0.7 8.1 19.7 18.0 7.7 7.4 2 1

Delaware Dividend Income I IN/LV 11.1 0.2 5.5 15.5 13.2 8.2 6.9 2 1

Delaware Pooled Large Cap Value GR/LV 18.8 1.7 9.8 23.7 21.7 9.6 7.8 2 1

Delaware Value Fund A GI/LV 18.9 1.7 10.1 23.6 21.0 8.9 8.0 2 1

Dreyfus US Equity Fund A GR/LG 14.7 2.1 8.6 19.1 17.6 8.0 — 2 1

FAM Equity-Income Fund IN/MB 16.1 0.8 7.0 20.0 18.2 7.6 6.1 2 1

Franklin Rising Dividends A GI/LV 16.4 1.7 8.4 20.9 16.9 8.4 7.0 2 1

Gabelli Equity Income AAA IN/LV 15.9 -0.1 8.2 20.4 16.9 7.7 8.8 2 1

Hennessy Cornerstone Value GR/LV 13.3 0.3 7.1 16.2 14.9 9.6 6.9 2 1

Value LineRank


Fidelity Real Estate Income RE/MV 1.3 -4.2 -2.6 5.7 10.6 10.0 7.1 1 2

Forward Select Income A RE/VL 1.9 -5.6 -3.4 6.4 10.1 11.9 5.5 1 2

BlackRock Health Sciences Opps A HL/LG 26.5 4.0 15.3 32.2 22.2 12.1 13.3 2 1

Fidelity Select Pharmaceuticals HL/LG 21.6 2.7 13.4 24.8 22.7 14.6 11.0 2 1

ICON Consumer Discretionary S OT/LG 18.6 0.3 11.2 18.7 24.3 13.2 6.1 2 1

Live Oak Health Sciences HL/LB 21.1 3.3 12.9 27.4 19.7 11.0 8.3 2 1

Rydex Consumer Products Adv OT/LB 17.4 0.3 6.9 19.9 17.6 11.1 9.4 2 1

Rydex Health Care Inv HL/LG 25.2 3.4 15.7 29.4 21.2 10.1 8.2 2 1

Saratoga Adv Tr-Health & Biotech A HL/LB 19.5 2.4 11.4 24.9 19.8 12.2 8.2 2 1

Schwab Health Care Fund HL/LG 22.7 2.6 12.0 28.1 24.0 11.4 13.0 2 1

Vanguard Health Care Index Adm HL/LB 25.5 3.5 15.3 29.9 23.9 11.5 — 2 1

Alger Health Sciences Fund C HL/LG 19.5 2.9 12.4 21.4 18.1 7.7 10.2 2 2

DWS Communications Fund A UT/LV 11.9 3.4 9.1 12.8 13.1 7.5 6.4 2 2

Eaton Vance WW Health Sciences A HL/LG 23.6 3.9 14.3 24.3 17.8 9.8 8.3 2 2

Fidelity Select Consumer Staples OT/LG 11.7 -1.4 3.7 13.9 17.4 10.4 11.6 2 2

Hennessy Gas Utility Index Fund UT/MV 14.3 1.2 6.4 13.4 18.4 9.4 12.2 2 2

ICON Healthcare S HL/LB 24.1 2.3 14.2 26.8 23.0 9.4 7.3 2 2

ICON Leisure & Consumer Staple S OT/LB 11.6 0.1 4.5 12.0 15.2 8.4 6.1 2 2

ING MFS Utilities S UT/LV 10.3 0.7 4.8 16.1 15.1 7.0 — 2 2

ING Wells Fargo Health Care S HL/LG 26.7 4.2 15.5 32.6 21.8 8.6 — 2 2

Legg Mason Financial Services A FS/MV 20.6 4.4 12.1 28.6 17.8 8.1 6.7 2 2

MFS Utilities Fund A UT/LV 10.4 0.8 4.7 16.1 15.1 7.1 13.8 2 2

Prudential Jennison Utility B UT/MV 12.3 1.1 6.2 16.2 15.1 3.6 11.7 2 2

Putnam Global Telecom A UT/GL 14.9 6.2 11.2 18.1 17.9 — — 2 2

SteelPath MLP Alpha Fund A EN/MV 16.6 2.5 5.4 16.8 11.6 — — 2 2



4 6 S E P T E M B E R 2 0 1 3



INTERNATIONAL EQUITY

PARTIAL EQUITY

Value LineRank


Value LineRank


SEI Inst Inv Tr-Dynamic Asset All A AA/VL 16.8 -0.5 9.6 16.7 14.6 — — 1 1

Bruce Fund FL/MV 7.5 -1.1 4.0 11.1 11.2 10.5 13.3 1 2

Buffalo Flexible Income Fund BA/LV 10.1 -0.1 4.9 11.7 14.2 7.6 8.8 1 2

AllianzGI Convertible Fund Adm CV/VL 13.5 0.3 7.9 18.1 14.2 — — 2 1

American Funds Tgt Dt Rtrmt 2055 A AA/55 11.8 0.5 6.9 17.3 14.0 — — 2 1

Brown Advisory Flexible Val Adv FL/GW 18.4 0.9 12.3 23.2 19.1 9.6 — 2 1

Dodge & Cox Balanced Fund BA/LV 14.9 1.7 9.1 20.0 15.7 7.3 6.9 2 1

Putnam Capital Spectrum A AA/MV 17.5 5.4 15.0 27.4 23.8 — — 2 1

TIAA-CREF Lifecycle Index 2040 Inst AA/40 11.5 0.5 6.2 16.4 14.6 — — 2 1

The Osterweis Strat Investment Fund AA/LB 13.6 1.2 7.5 18.5 14.3 — — 2 1

Villere Balanced Fund BA/MG 12.0 2.2 9.4 18.9 23.5 13.1 9.4 2 1

Weitz Value Fund AA/VL 18.8 0.0 9.4 21.2 19.4 9.4 5.7 2 1

Alger Growth & Income Fund A BA/LG 14.1 -0.6 6.9 14.9 13.9 7.2 6.3 2 2

American Beacon Balance Inst BA/LV 12.0 0.5 7.7 15.7 13.2 7.7 7.5 2 2

American Funds Asset Alloc HLS IB FL/LG 11.8 0.5 6.7 16.6 15.0 7.0 — 2 2

American Funds Tgt Dt Rtrmt 2035 A AA/35 11.4 0.4 6.6 16.7 13.6 6.4 — 2 2




ClearBridge Equity Income B FL/LV 13.1 0.1 5.5 15.0 15.4 5.7 6.4 2 2

Columbia Capital Alloc Aggres A AA/LG 9.9 0.2 5.2 15.0 13.2 6.1 — 2 2

Columbia Convertible Sec A CV/MV 13.5 0.7 8.5 18.3 12.3 7.2 6.8 2 2

Delaware Select 20 Portfolio AA/MG 10.3 2.8 7.0 12.2 20.0 9.9 6.8 2 2

FPA Crescent Fund BA/LV 12.2 0.9 7.0 15.8 12.8 7.6 8.5 2 2

Fidelity Four In One Index Fund AA/LB 11.3 0.5 6.1 16.1 14.0 6.0 7.0 2 2

Artisan Global Value Inv GL/LB 16.0 1.9 9.4 23.8 18.6 10.5 — 2 1

Lazard Global List Infrastruct Inst GL/SB 14.7 0.1 7.8 21.5 12.5 — — 2 1

DWS RREEF Global Infrastructure A GL/LB 5.6 -2.4 1.3 12.4 16.2 9.0 — 2 2

Fidelity Adv New Insights I GL/MB 15.9 2.1 10.1 17.6 17.1 7.6 10.4 2 2

Motley Fool Independence Fund GL/VL 12.1 0.7 7.6 17.5 14.0 — — 2 2

Tweedy Browne Global Value FO/LV 10.4 0.2 3.9 17.0 12.1 7.8 9.3 2 2

AllianzGI NFJ Mid-Cap Value Fd C GL/MV 15.0 1.5 8.4 19.8 15.2 7.1 6.2 3 1

American Funds New Economy A GL/LG 21.0 3.5 12.5 29.8 19.2 10.2 9.1 3 1

Fidelity Mid Cap Value Fund GL/MV 20.1 0.8 8.4 26.5 19.4 9.1 9.8 3 1

Fidelity Mid-Cap Stock Fund GL/MB 21.6 3.8 12.2 24.0 20.6 9.0 8.9 3 1

Fidelity Series All Sector Eqty GL/LB 16.6 2.1 10.0 19.8 17.6 — — 3 1

Fidelity Series Broad Market Opprt GL/LG 17.3 2.4 10.3 21.1 17.9 8.2 — 3 1

Fidelity Value Fund GL/VL 19.8 1.4 10.0 28.5 19.3 7.3 8.9 3 1

Thornburg International Growth A FO/LG 17.9 2.4 10.4 29.3 19.4 10.9 — 3 1

AllianceBernstein Core Opportun A GL/LB 17.1 1.9 9.2 18.8 20.0 6.8 6.7 3 2

American Funds SMALLCAP World A GL/SG 14.4 0.5 7.6 22.6 13.6 7.5 10.2 3 2

Artisan Global Equity Inv GL/LG 14.6 -2.3 7.6 24.5 20.9 — — 3 2

Artisan International Value Inv FO/LB 15.9 5.7 10.1 27.6 17.1 10.3 13.2 3 2

DFA Global Equity I GL/VL 13.0 0.8 6.9 21.4 15.1 6.3 — 3 2

Davis New York Venture Fund A GL/LV 18.3 1.1 10.0 22.1 15.1 5.2 6.9 3 2

Fidelity Adv Mid Cap II A GL/MG 18.0 1.9 9.4 22.8 13.7 7.1 — 3 2

Fidelity Trend Fund GL/LG 16.1 2.8 10.4 18.4 19.7 9.3 8.7 3 2

GAMCO Global Growth AAA GL/LG 12.9 1.1 6.2 20.7 16.7 6.0 7.9 3 2

ING Van Kampen Growth and Income A GL/LB 19.5 1.2 10.2 23.1 16.9 7.1 — 3 2

MFS Equity Opportunities A GL/LG 22.3 3.6 15.0 30.0 21.2 6.8 — 3 2



S E P T E M B E R 2 0 1 3 4 7


TAXABLE FIXED INCOME


MUNICIPAL BOND

Value LineRank


Value LineRank


Cavanal Hill Shrt Trm Inc Bd I CG/ST 0.2 -0.6 -0.2 1.4 3.4 3.9 — 1 1

JPMorgan Limited Duration Bond A CG/ST 1.1 -0.6 0.4 2.6 3.7 4.7 3.0 1 1

BlackRock Low Duration Bd Inv Isnt CG/ST 0.0 -0.6 -0.5 1.4 2.7 3.7 3.0 1 2

Cavanal Hill Shrt Trm Inc Bd Inv CG/ST -0.1 -0.7 -0.4 1.2 3.1 3.5 2.9 1 2

FPA New Income Fund CG/ST 0.1 -0.7 -0.2 0.6 1.7 2.5 3.3 1 2

Great-West Short Duration Bond GS/ST 0.0 -0.9 -0.5 1.4 2.6 — — 1 2

MassMutual Premier Sh-Dur Bond S DB/IT 0.7 0.1 0.4 1.5 2.3 4.5 4.5 1 2

Metropolitan West Ultra Short Bd M CG/ST 1.1 -0.2 0.4 2.9 3.0 2.9 1.8 1 2

Northern Tax-Advnt Ult-Sht Fix Inc CG/ST 0.2 -0.1 -0.1 0.8 1.0 — — 1 2

Pioneer Short Term Income Fund A GM/ST 0.7 -0.3 0.3 1.5 2.4 3.6 — 1 2

Tributary Short-Interm Bd Inst CG/ST -0.3 -1.0 -0.9 1.0 2.1 3.7 3.1 1 2

Weitz Short-Intermediate Inc CG/ST 0.2 -0.5 -0.5 1.0 2.2 4.5 4.1 1 2

Western Asset Adj Rate Income C1 GM/AJ 0.3 -0.7 -0.1 1.1 1.9 1.8 1.0 1 2

Wilmington Short Duration Govt Bd I GS/IT 1.0 0.6 0.3 1.4 1.4 2.6 2.4 1 2

BlackRock Strategic Inc Opps Inst CH/ST 0.4 -2.0 -0.6 3.8 3.7 5.4 — 2 1

Cavanal Hill Bond I CG/IT -1.1 -2.0 -1.4 0.8 5.1 6.2 — 2 1

Cavanal Hill Bond Inv CG/LT -1.2 -2.1 -1.5 0.4 4.8 5.9 4.4 2 1

Cavanal Hill Intermed Bd I DB/IT 1.6 -0.9 0.5 5.2 6.4 6.3 — 2 1

Cavanal Hill Intermed Bd Inv DB/IT 1.4 -1.0 0.3 4.9 6.1 6.0 4.1 2 1

Commerce Bond Fund CG/IT -1.6 -2.3 -2.2 -0.1 3.8 6.8 5.5 2 1

DoubleLine Total Return Bond I GM/IT -0.9 -2.3 -1.8 0.9 6.8 — — 2 1

Franklin Strategic Mortgage A GM/IT -0.9 -1.5 -1.4 0.4 4.9 5.9 4.4 2 1

Frost Total Return Bond A CG/IT 1.2 -1.9 -0.5 3.6 6.1 8.2 — 2 1

JPMorgan Core Plus Bond Fund A CG/IT -1.4 -1.9 -1.7 -0.1 4.3 6.6 5.2 2 1

JPMorgan Total Return A GM/IT -1.5 -1.7 -2.0 0.0 4.4 7.1 — 2 1

Colorado Bond Shrs Tax-Exmt A MS/CO 0.2 -1.3 -0.6 1.2 3.5 3.1 4.1 1 1

Alpine Ultra ShortTax Optm Inc Inst MB/ST 0.3 0.0 0.2 0.4 1.1 1.7 2.4 1 2

BMO Ultra Short Tax-Free Fund I MB/ST 0.2 -0.2 0.1 0.6 1.5 — — 1 2

BNY Mellon Nat’l Sh-Trm Muni Bd M MB/ST -0.3 -0.6 -0.7 -0.3 0.8 1.8 1.9 1 2

Capital Califoria S/T Muni MC/ST -0.6 -0.9 -1.0 -0.4 0.9 — — 1 2

Capital Sh-Term Municipal MB/ST -0.1 -0.6 -0.5 0.1 1.2 — — 1 2

Columbia Sh-Term Muni Bond A MB/ST 0.0 -0.3 -0.4 0.0 1.1 2.0 2.2 1 2

DFA CA Short-Term Municipal Bond I MB/ST 0.0 -0.3 -0.2 0.0 0.8 2.0 — 1 2

DFA Short Term Municipal Bond I MB/LT 0.1 -0.2 -0.1 0.0 0.7 1.8 2.1 1 2

Dreyfus Sh-Intmd Muni Bd D MB/IT -0.2 -0.7 -0.8 -0.3 1.0 2.2 2.3 1 2

Federated Muni Ultrashrt Inst MB/ST 0.1 -0.3 -0.1 0.4 0.9 1.5 1.9 1 2

Fidelity Short-Intermed Muni Inc MB/ST -1.1 -1.4 -1.5 -0.6 1.4 2.6 2.9 1 2

Franklin Fdrl Lmtd Trm T/F Inc A MB/ST -0.2 -0.6 -0.5 0.0 1.6 2.8 — 1 2

Goldman Sachs Short Dur T/F Inst MB/ST -0.6 -1.3 -1.2 -0.3 1.4 2.5 2.3 1 2

Lord Abbett Short Dur Tax Free A MB/ST -0.6 -1.1 -1.1 -0.3 1.4 — — 1 2

Northern Short-Intermed Tax-Exempt MB/ST -1.0 -1.0 -1.3 0.0 1.1 2.5 — 1 2

Nuveen Short Term Muni Bond I MB/ST 0.3 -0.3 -0.2 0.7 1.9 2.5 2.5 1 2

PIMCO CA Sh Dur Muni Income A MC/ST -0.3 -0.5 -0.5 -0.4 -0.1 1.1 — 1 2

PIMCO Short Duration Muni Inc Inst MB/ST -0.2 -0.8 -0.6 -0.1 0.6 -0.7 0.6 1 2

T. Rowe Price MD Sh-Term T/F MS/MD 0.1 -0.4 -0.4 0.0 0.6 1.0 1.7 1 2

USAA T/E Short Term Bond Fund MB/ST 0.1 -0.6 -0.4 0.5 2.0 2.8 2.8 1 2

Vanguard Ltd-Term Tax-Exempt Inv MB/IT -0.6 -0.9 -1.1 -0.3 1.3 2.4 2.5 1 2

Vanguard Short-Term Tax-Exempt Inv MB/ST 0.0 -0.2 -0.2 0.2 0.8 1.5 1.8 1 2

Wells Fargo Adv CA Ltd Term T/F A MC/LT 0.0 -1.0 -0.7 0.9 2.4 3.2 2.9 1 2

Wells Fargo Adv Sh-Tm Muni Bd Inv MB/ST 0.1 -0.5 -0.2 0.6 1.8 2.9 3.2 1 2



4 8 S E P T E M B E R 2 0 1 3


THE VALUE LINE FUND ADVISOR485 Lexington Avenue, New York, NY 10017-2630

6733 General Equity

310 Aggressive Growth 13.3 1.9 7.9 15.4 13.1 4.6 5.6

3399 Growth 15.6 1.6 8.9 18.8 16.1 6.2 6.8

950 Growth/Income 15.2 0.8 8.3 18.2 16.0 6.2 6.5

342 Income 11.5 -0.1 5.8 14.5 13.8 6.0 6.8

1732 Small Company 19.4 3.4 11.4 24.5 18.8 7.7 7.9

1238 Special Equity

192 Energy/Natural Res. 6.0 1.1 1.9 9.0 7.0 -3.4 10.8

79 Financial Services 17.5 0.6 9.4 27.7 13.6 3.2 2.6

119 Health 28.7 5.3 18.5 32.1 24.2 11.2 9.2

91 Other Specialty 10.2 0.7 5.3 13.6 10.4 3.1 5.4

76 Precious Metals -30.3 -0.2 -18.1 -31.4 -14.3 -3.0 7.1

375 Real Estate -1.9 -6.9 -5.2 2.5 10.9 4.1 7.9

211 Technology 15.4 3.8 10.7 15.5 14.9 7.7 6.6

95 Utilities 9.9 0.4 4.2 13.0 13.0 4.8 9.2

3183 International Equity

99 Europe Equity 8.6 1.7 6.0 19.9 10.6 2.3 8.2

1930 Foreign Equity 1.7 -2.3 -0.6 11.7 6.6 1.6 8.3

901 Global Equity 10.4 0.4 5.6 17.1 12.5 4.8 7.5

253 Pacific Equity -4.3 -6.2 -5.6 7.8 1.9 0.8 6.6

3724 Partial Equity

2803 Asset Allocation 5.4 -0.8 2.3 8.7 9.4 4.7 5.3

526 Balanced 7.0 -0.6 3.4 10.0 10.2 5.5 5.6

80 Convertible 10.7 0.3 6.6 14.4 9.9 6.4 6.2

315 Flexible 4.6 -0.8 1.9 7.4 7.8 4.0 5.1

3639 Taxable Fixed Income

933 Corp-High Quality -2.0 -2.1 -2.2 -1.0 2.8 4.3 3.5

644 Corporate-High Yield 2.1 -1.3 0.5 5.9 7.4 6.9 5.6

617 Diversified Bond -2.0 -2.3 -2.4 -0.3 3.3 4.8 4.0

671 Government -3.5 -2.4 -3.3 -3.1 1.4 3.1 3.0

314 Govt-Mortgage -2.3 -1.8 -2.3 -1.7 2.2 4.0 3.4

460 International Bond -5.5 -4.0 -5.0 -2.5 2.8 5.1 5.4

1649 Tax-Free Fixed Income

171 Muni California -5.4 -5.8 -6.3 -4.0 2.1 3.4 3.2

687 Muni National -5.0 -5.4 -5.8 -3.8 1.6 3.2 3.0

132 Muni New York -6.5 -6.5 -7.3 -5.6 1.2 3.2 3.1

659 Muni Single State -6.4 -6.4 -7.1 -5.6 1.0 2.9 2.8

20166 Average, All Funds 4.5 -1.1 1.5 8.0 8.1 4.2 5.9

MARKET INDICES

S&P 500 16.2 0.7 9.0 18.7 18.4 7.3 7.1

Russell 3000 17.0 1.2 9.4 20.3 18.9 7.6 7.6

MSCI EAFE 5.8 -0.3 1.8 15.3 6.0 -1.4 5.6

MSCI WORLD 10.0 0.1 4.8 15.1 10.9 1.8 5.6

Barclays Aggregate Bond -2.8 -1.9 -2.6 -2.5 2.6 4.9 4.7

Barclays High Yield Bond 2.7 -1.4 0.8 7.6 9.9 13.0 9.4

Barclays Municipal -4.9 -5.1 -5.6 -3.7 2.4 4.5 4.2

Total Return Performance Through 8/30/13No. Annualized

Funds Objective YTD 3 Mos 6 Mos 1 Yr 3 Yrs 5 Yrs 10 Yrs

Benchmark Performance Averages

the v line · 2014-07-10 · all investors must read applicable prospectuses before investing. 2...

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