International Opportunistic Equity
Equity Portfolio Characteristics As of 12/31/2023
| Characteristic | Brandywine Global | ACWI-RGXUS |
| Price/Earnings 1 | 12.2 | 14.8 |
| Price/Book | 1.3 | 1.7 |
| Price/Cash Flow | 9.5 | 9.5 |
| Dividend Yield (%) | 2.9 | 3.0 |
| Average Market Capitalization ($B) | 70.3 | 10.9 |
| Number of Securities | 42 | 2,312 |
| Turnover (% Last 12 Months) | 34.3 | - |
Top Ten Holdings As of 12/31/2023
| Company | Weight (%) |
| Cie De Saint-gobain Sa | 5.1 |
| Bnp Paribas Sa | 4.4 |
| Banco Santander Sa | 4.3 |
| Baidu Inc | 4.2 |
| Deutsche Telekom Ag | 4.0 |
| Alibaba Group Holding Ltd | 4.0 |
| Tesco Plc | 3.5 |
| Aercap Holdings Nv | 3.3 |
| Taiwan Semiconductor Manufacturing Co Ltd | 3.3 |
| Itau Unibanco Holding Sa | 3.2 |
Sector Allocation As of 12/31/2023
| Sector | Brandywine Global (%) | ACWI-RGXUS (%) |
| Communication Services | 10.3 | 5.2 |
| Consumer Discretionary | 22.0 | 11.5 |
| Consumer Staples | 6.0 | 8.0 |
| Energy | 6.2 | 5.6 |
| Financials | 15.2 | 21.2 |
| Health Care | 8.5 | 9.3 |
| Industrials | 20.2 | 13.4 |
| Information Technology | 6.5 | 12.5 |
| Materials | - | 8.0 |
| Real Estate | 2.4 | 2.1 |
| Utilities | - | 3.2 |
| Cash | 2.9 | - |