Portfolio
Performance
Fund Facts
Commentary
Portfolio Characteristics as of 9/30/2018
Equity Income
Median Market Cap (Millions) 48,939
Number of Holdings 36
Median Price - to - Earnings (Next 12 Months)* 14.8
Price / Book 3.11
Beta** 0.77

*This measure is not a forecast of the fund’s future performance.
**A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole.

Top Ten Holdings*** as of 9/30/2018
Holding
Pfizer Incorporated 4.8%
Enterprise Products Partners L.P. 4.4%
AT&T Incorporated 4.3%
Qualcomm Incorporated 4.2%
Cisco Systems Incorporated 4.0%
Holding
Int'l Business Machines Corporation 3.7%
Extended Stay America Incorporated 3.7%
General Motors Company 3.7%
Sanofi 3.5%
Verizon Communications Incorporated 3.5%

***Holdings are subject to change and do not include the Fund’s entire portfolio. Holdings data is presented to illustrate examples of the securities the Fund bought and the diversity of areas in which the Fund invests and may not be representative of the Fund’s current or future investments. Current and future holding are subject to risk. Sector Breakdowns are determined by Hamlin’s Investment Committee.

Sector Breakdown**** as of 9/30/2018
% of Total
Communication Services 16
Energy 15
Information Technology 13
Consumer Discretionary 13
Consumer Staples 11
Health Care 10
Financials 7
Industrials 6
Short Term Investment 5
REITs 4
Total
100%

****Sector breakdown is defined by Hamlin’s Investment Committee.

Market Cap Exposure as of 6/30/2018
Equity Income Companies
Greater than $10 billion 65.7 23
$2 billion - $10 billion 23.0 9
$0 - $2 billion 2.2 1
Total
100%
33