Mid Cap Diverse Leadership Fund
Cavanal Hill Funds
Expense ratio
Net assets1
$2.30M
Holdings1
82
Category
US Equity
Return

Investment objective & strategy

As of Dec. 27, 2022 · prospectus

Objective. To seek total return.

Strategy. To pursue its objective, under normal circumstances, the Fund invests at least 80% of its net assets in a diversified portfolio of common stocks of Mid Cap U.S. companies that demonstrate governance diversity and leadership. This policy will not be changed without at least 60 days prior notice to shareholders. For purposes of this policy, common stocks include securities convertible into common stocks. The Fund defines Mid Cap securities as those that are included in the Russell Midcap Index at the time of purchase. As of 10/31/2022, the market cap range of the Russell Midcap Index was approximately $300 million to $53 billion. Companies that demonstrate governance leadership and diversity are identified through a process that utilizes ESG (environmental, social … To pursue its objective, under normal circumstances, the Fund invests at least 80% of its net assets in a diversified portfolio of common stocks of Mid Cap U.S. companies that demonstrate governance diversity and leadership. This policy will not be changed without at least 60 days prior notice to shareholders. For purposes of this policy, common stocks include securities convertible into common stocks. The Fund defines Mid Cap securities as those that are included in the Russell Midcap Index at the time of purchase. As of 10/31/2022, the market cap range of the Russell Midcap Index was approximately $300 million to $53 billion. Companies that demonstrate governance leadership and diversity are identified through a process that utilizes ESG (environmental, social and governance) screening criteria. The Fund evaluates all potential Mid Cap security investments using ESG criteria screens of publicly available data to identify companies where diversity and leadership is a focus of management. All companies must meet or exceed ESG criteria to be eligible for inclusion in the Fund. The ESG criteria is based on assessment data and risk ratings obtained from Sustainalytics, an independent research vendor selected by the Adviser. The ESG criteria governance assessment category screens that the Fund considers when evaluating leadership and diversity include diversity programs, discrimination policy, gender pay equality, board and management considerations. The diversity programs screen evaluates the presence or absence of diversity monitoring or audits, initiatives supporting a diverse workforce, mentorship programs, employee affinity groups, diversity councils, or networking groups, diversity initiatives that go beyond legal compliance, training and guidance regarding diversity, targeted recruitment, and managerial or board level responsibility for diversity initiatives. The discrimination policy category evaluates a companys reference to International Labor Order (ILO) conventions, commitment to ensure equal opportunity, and types of discrimination the company is committed to eliminate. ILO conventions cover a wide area of social and labor issues including basic human rights, minimum wages, industrial relations, employment policy, social dialogue, social security and gender-specific issues. The gender pay and equality assessment considers salary pay gaps and initiatives to monitor, measure and close the pay gap, with a commitment to gender pay equality. The board and management screen includes experience, track record, conflicts of interest, shareholder engagement and gender diversity. Risk ratings from Sustainalytics are intended to identify financially material ESG-related risks and to assist the portfolio management team in understanding how those risks might affect performance. Ratings are categorized across five risk levels: negligible, low, medium, high and severe. The Fund will avoid companies with more than one severe rating at the time of investment but concerns in assessment categories do not automatically eliminate an issuer from being an eligible Fund investment. Ratings are considered as part of the portfolio management evaluation process. The Fund will not generally invest in companies significantly involved in certain business activities including but not limited to the production of alcohol, tobacco, military weapons, firearms, nuclear power, thermal coal and gambling products and services. Once a universe of ESG-eligible companies is established, the portfolio management team of the Fund uses a proprietary system that ranks stocks under a quantitative approach. Stocks are ranked on a large array of factors including but not limited to fundamental factors (e.g., valuation and growth) and technical factors (e.g., momentum, reversal and volatility) that have historically been linked to performance. Quantitative portfolio construction and risk management techniques are used to seek consistent, superior risk adjusted returns. The portfolio management teams final investment selection process continues to favor companies with strong governance diversity and leadership ESG screening criteria rankings relative to industry peers. When ESG criteria concerns exist, the evaluation process carefully considers how companies address the risks and opportunities they face in the context of their sector or industry and relative to their peers. The risk ratings, combined with qualitative analyses, of key governance diversity and leadership performance indicators are given more or less relative weight compared to the broader range of potential assessment categories. The Fund may also invest up to 20% of its net assets in preferred stocks and cash equivalents, and without regard to governance diversity and leadership ESG criteria. The Fund may engage in active and frequent trading. Total return is defined as a percentage change, over a specified time period, in a mutual funds net asset value, with the ending net asset value adjusted to account for the reinvestment of all distributions of dividends and capital gains. Purchase and sale decisions are based on the Advisers judgment about issuers, risk, prices of securities, market conditions, potential returns, governance diversity and leadership ESG criteria, and other economic factors. The governance diversity and leadership ESG criteria narrows investment options but the portfolio management team believes that there are sufficient Mid Cap investments available that meet the Funds governance diversity and leadership ESG criteria.

Top holdings

As of May 31, 2023 · N-PORT
SecurityTickerValue% of fund
CAVANAL HILL GOVERNMENT SECURITIES MONEY MARKET $149.25K 6.49%
HUBSPOT INC $97.38K 4.23%
EQT CORPORATION $59.53K 2.59%
ICU MEDICAL INC $58.06K 2.52%
APTARGROUP INC $56.69K 2.46%
ESSEX PROPERTY TRUST INC $55.53K 2.41%
LUMENTUM HOLDINGS INC $53.43K 2.32%
HARTFORD INSURANCE GROUP INC/THE $51.46K 2.24%
XCEL ENERGY INC $51.25K 2.23%
UNUM GROUP $51.01K 2.22%
View all holdings →

Allocation by sector

As of May 31, 2023 · N-PORT
View portfolio breakdown →

Portfolio moves

Feb 28, 2023 → May 31, 2023
Opened
0
Exited
5
Increased
79
Decreased
0
Unchanged
3

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight

Footnotes

  1. Net assets and holdings count as of May 31, 2023, from the fund's N-PORT filing.

Machine-readable: JSON · Markdown. Programmatic access via the agent surface.