Driehaus Large Cap Growth

 

 

Second Quarter 2010

Portfolio Manager: Dan Wasiolek
Assistant Portfolio Manager: Michael Schmidt
Assets Under Management:

$173 Million

Inception Date: 4/1/07

Separately Managed Accounts

Minimum Initial Investment:

$5 Million

 

Investment Objective: Maximize capital appreciation through investing in a diversified portfolio of U.S. traded, large-capitalization growth stocks.

 

Investment Strategy:  The Large Cap Growth Strategy invests in companies with market capitalizations generally greater than $10 billion. The Strategy typically maintains a portfolio consisting of 30 to 65 stocks and generally limits individual positions to less than 5% at cost.

 

Sector Weightings (as of 6/30/10)

Information Technology

35.9%

Consumer Discretionary

17.7%

Health Care

13.7%

Consumer Staples

7.9%

Industrials

7.2%

Materials

2.9%

Energy

2.7%

Telecommunication Services

2.0%

Financials

1.0%

Cash

9.0%

Source: Morgan Stanley Capital International and Standard & Poor's Global Industry Classification Standard

 

 

 

Top 10 Holdings  (as of 7/31/10)

Apple Inc.

5.9%

Rovi Corp

3.9%

Las Vegas Sands Corp.

2.9%

Cummins Inc.

2.9%

Microsoft Corp.

2.8%

Deere & Co.

2.7%

Cisco Systems Inc.

2.6%

NetApp Inc.

2.6%

Google Inc. (Cl A) 2.6%

American Tower Corp.

2.6%

 

 

 

 

Average Annual Total Return (as of 6/30/10)

______Annualized______  

2nd QTR

YTD 1 Year 3 Year 5 Year  Since
Inception (4/1/07)
Driehaus Large Cap Growth

-11.25%

-6.66%

11.87%

-4.71%

n/a

-0.78%

Russell 1000 Growth Index

-11.74%

-7.64%

13.62%

-6.91%

n/a

-4.46%


 

Cumulative Total Return (4/1/07 to 6/30/10)

Driehaus Large Cap Growth

-2.5%

Russell 1000 Growth Index

-13.8%

 

 

For the most current month-end summary sheet for the Driehaus Large Cap Growth Strategy, please click here .

 

 


 

Sources: eVestment Alliance, LLC, SS&C Inc., FactSet Research Systems Inc., Morgan Stanley Capital International and Standard & Poor's Global Industry Classification Standard methodology to identify sector classifications

 

The performance numbers represent a composite of large cap growth accounts managed by Driehaus Capital Management LLC (“DCM”) (the “Composite”).  These numbers are estimated for the period as all underlying accounts have not yet been reconciled. All rates of return include reinvested dividends and other earnings and are net of fees and brokerage commissions. The performance data shown above represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted.

 

The performance results for the Composite are shown in comparison to an index. Unlike the Composite, the index is not actively managed and does not reflect the deduction of any advisory or other fees and expenses.  While the securities comprising the index are not identical to those in the Composite, DCM believes this comparison may be useful in evaluating performance. 

 

The Russell 1000 Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index, which represents approximately 92% of the total market capitalization of the Russell 3000 Index.

 

For additional disclosure on the Composite, please click here.