Shenandoah 130/30 Alpha Extension
Strategy (Launched June 1, 2007) - Portfolio Holdings,
Sector Weights, and Resulting Characteristics
Portfolio Holdings
We make available the actual portfolio holdings for the most recent month end
previous to the current investment period. This file provides the
individual holdings as of 9/30/2008:
SAM 130-30 Alpha Extension Holdings.xls
The following are the Standard & Poor's Global Industry Classification Standards (GICS®) Sector Weights resulting from the portfolio holdings as of 9/30/2008.
Resulting Portfolio Characteristics
The following are the characteristics of the resulting portfolio as of
9/30/2008.
| Characteristic | Long | Short | Combined | Russell 1000* |
| Number of Holdings | 82 | 47 | 129 | 997 |
| Wtd. Average Market Capitalization (millions) | 57,565 | 4,818 | 73,470 | 77,999 |
| Median Market Capitalization (millions) | 12,761 | 2,739 | 5,585 | 4,162 |
| P/E Last Fiscal Year | 17.27 | 23.21 | 15.48 | 14.12 |
| P/E Next Fiscal Year | 12.37 | 20.19 | 10.01 | |
| Price/Book | 3.24 | 3.48 | 3.17 | 2.25 |
| Price/Sales | 1.94 | 3.87 | 1.36 | |
| Price to Cash Flow | 9.64 | 14.69 | 8.11 | |
| Dividend Yield | 1.79 | 1.84 | 1.77 | 2.33 |
| Historical Growth Rate | 13.01 | 16.92 | 11.83 | 17.98 |
| Future Growth Rate | 11.12 | 11.91 | 10.88 | 12.07 |
* Values obtained from www.russell.com
Sources
Russell 1000® Index is a registered trademark of the
Russell Investment Group
Plan Sponsor Network (PSN) is a product of
Informa
Investment Solutions
Global Industry Classification Standards (GICS®)
are a registered trademark of Standard & Poors and MSCI BARRA
Portfolio characteristics compiled from data supplied by The Applied
Finance Group, LTD.
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