Small/Mid Cap Overview Composite Performance Overview The Small/Mid Cap strategy seeks to generate consistent, long-term investment performance in excess to the Russell 2500 Index Primary BenchmarkRussell 2500 IndexPortfolio Management Joe Gatz Portfolio Manager Read bio Jeff Schwartz Portfolio Manager Read bio Strategy Highlights The investment universe includes all stocks generally within the market cap range of the benchmark at initial purchase We believe that known and recurring inefficiencies are available in the small cap market causing stock prices to deviate from their intrinsic value These inefficiencies can be categorized into three areas: misunderstood franchises, underfollowed and special situations A repeatable investment process can uncover higher quality businesses that are trading at a discount to intrinsic value utilizing rigorous fundamental research Disciplined bottom-up portfolio construction within a risk aware framework Sector guidelines: typical range is +/- 50% for benchmark sectors over 10% Individual security exposure: typical positions range from 0.5 to 2.5%, with no one stock typically greater than 3% of the portfolio 65 to 90 stocks typically; turnover: 20% to 40% annually Strategy Facts as of 3/31/2025Strategy Inception4/1/1998Strategy Assets$1.3 billionComposite Assets$641.7 millionNumber of Composite Accounts24Fact Sheet The Composite includes all discretionary accounts with market values greater than $1 million managed by Loomis Sayles that seek to identify attractively-valued, small and mid-sized companies with the potential for above average capital appreciation. The strategy objective is to generate consistent, long-term investment performance over a full market cycle superior to the Russell 2500 Index, and generally within the market capitalization range of the Index. As of 1/1/2021 the Composite was redefined to include commingled vehicles, previously only separate accounts were included. The Composite inception date is April 1, 1998. The Composite was created in 1998. The Russell 2500 Index measures the performance of the 2,500 smallest companies in the Russell 3000 index, which represents approximately 20% of the total market capitalization of the Russell 3000 Index. Indices are unmanaged. It is not possible to invest directly in an index. Performance Primary Benchmark: Russell 2500 Index Quarter-End Performance as of 3/31/2025CumulativeGrossNetIndex3 month-4.88%-5.10%-7.50% Year-to-date-4.88%-5.10%-7.50%Trailing Performance as of 3/31/2025Annualized Total ReturnGrossNetIndex1 year-2.00%-2.87%-3.11% 3 years6.14%5.23%1.78% 5 years17.66%16.68%14.91% 10 years8.67%7.78%7.46% Since Inception 4/1/199810.44%9.70%8.21% Period PerformanceYearGrossNetIndex202416.40%15.37%12.00% 202320.36%19.30%17.42% 2022-17.61%-18.27%-18.37% 202129.55%28.56%18.18% 202013.30%12.36%19.99% 201932.67%31.58%27.77% 2018-11.08%-11.83%-10.00% 201718.09%17.12%16.81% 201612.44%11.58%17.59% 2015-3.39%-4.07%-2.90% Performance data shown represents past performance and is no guarantee of future results. Current performance may be lower or higher than quoted. Returns are shown in US dollars and are annualized for one and multi-year periods. Gross returns are net of trading costs. Net returns are gross returns less effective management fees. There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return. Monthly Characteristics Monthly as of -1/-1/-1 Currency Distribution @ERROR% Duration Distribution @ERROR% Sector Distribution (Fixed) 0.0% Country Distribution @ERROR% Maturity Distribution @ERROR% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Due to rounding, market capitalization and sector distribution totals may not equal 100%. This portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in securities referenced. Reference to specific securities or holdings should not be considered recommendations for action by investors. P/E (trailing) is the sum of a company's price-to-earnings, calculated by dividing current stock price by trailing earnings per share for the past 12 months. P/E (forward) measures price-to-earnings ratio using forecasted earnings for the price-to-earnings calculation; the forward measure is not a forecast of the fund’s performance. 3-5 Year EPS Growth is sourced from FactSet and based on long-term EPS growth rate estimates gathered directly from brokers. The portfolio and benchmark statistic is a weighted average of company level estimates. ROE (1-year equal weighted) is the 1-year ROE of all holdings divided by number of holdings. Median active share indicates the proportion of the portfolio’s holdings (by market value) that is different than the benchmark. A higher active share indicates a larger difference between the benchmark and the portfolio. Quarterly Characteristics Quarterly as of -1/-1/-1 Currency DistributionFundIndex @ERROR%0.0% Duration DistributionFundIndex @ERROR%@ERROR% Market CapitalizationFundIndex N/A0.0% Sector Distribution (Fixed)FundIndex 0.0%0.0% 0.0%0.0% Country DistributionFundIndex @ERROR%0.0% Maturity DistributionFundIndex @ERROR%@ERROR% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Due to rounding, market capitalization and sector distribution totals may not equal 100%. This portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in securities referenced. Reference to specific securities or holdings should not be considered recommendations for action by investors. P/E (trailing) is the sum of a company's price-to-earnings, calculated by dividing current stock price by trailing earnings per share for the past 12 months. P/E (forward) measures price-to-earnings ratio using forecasted earnings for the price-to-earnings calculation; the forward measure is not a forecast of the fund’s performance. 3-5 Year EPS Growth is sourced from FactSet and based on long-term EPS growth rate estimates gathered directly from brokers. The portfolio and benchmark statistic is a weighted average of company level estimates. ROE (1-year equal weighted) is the 1-year ROE of all holdings divided by number of holdings. Median active share indicates the proportion of the portfolio’s holdings (by market value) that is different than the benchmark. A higher active share indicates a larger difference between the benchmark and the portfolio. Holdings Top Ten Holdingsas of -1/-1/-1% Assets @ERROR% Top 10 holdings may not be representative of current or future holdings and will evolve over time. x < Page: / > Download PDF