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US EquityCardinal Capital portfolios are designed to deliver superior returns, net of fees, at significantly reduced risk relative to the broad equity market, defined by the Standard & Poor’s 500 Index and the managers that benchmark against it. Risk is measured by beta or standard deviation of return versus those of the S&P 500. We simply identify good companies selling at attractive prices. We make use of a proprietary quantitative valuation screen to identify significantly undervalued companies, which are then subjected to further in-house analysis and research. Those that meet Cardinal Capital portfolio criteria have market capitalizations of at least $100 million. They can be from any industry sector. The resulting portfolios typically include companies that have been categorized as offering value as well as growth. As of March 31, 2008 Cardinal Capital’s equity portfolio composite contains 40 securities. Thirty-nine of these are paying dividends and 34 have increased their dividends in the past year. The dividend yield on the portfolio is currently 2.6%, significantly higher than the 2.2% yield of the S&P 500 Index. The price earnings ratio of the portfolio is currently 17 versus the S&P 500 Index P/E of 20. The beta of the portfolio is now 0.80. The sustainable growth rate of the portfolio as determined using the DuPont formula is currently 12.5%. The portfolio is made up of 91% large capitalization stocks and 9% mid-capitalization stocks. The ten largest holdings in the existing portfolio are:
Historical performance is included in the Performance section of this web site. Please see the important performance disclosure information included in the Legal Information section. |
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Cardinal Capital Management Inc. Copyright © 2007 |