Portfolio | Hamlin Capital Management

Equity Income

“The prime purpose of a business corporation is to pay dividends to its owners. A successful company is one that can pay dividends regularly and presumably increase the rate as time goes on.” – Benjamin Graham & David Dodd

Portfolio Characteristics as of 6/30/2024

	Equity Income
Average Market Cap (Billions)	$156
Number of Holdings	26
Net Debt to Capital	39.7%
Weighted Average Equity Yield	3.3%
Harmonic Price-to-Earnings (NTM)	16.8x
Price/Book	3.9
Beta	0.74

Top Ten Holdings as of 6/30/2024

Holding
Broadcom Inc.
Public Service Enterprise Group, Inc.
AbbVie Inc.
ConocoPhillips
Lamar Advertising Company Class A

Holding
Ares Management Corporation
Proctor & Gamble Company
Old Republic International Corporation
Texas Instruments Incorporated
Unilever PLC Sponsored ADR

Sector Breakdown* as of 6/30/2024

	% of Total
Industrials	19
Financials	16
Consumer Staples	14
Information Technology	10
Consumer Discretionary	9
Energy	8
Healthcare	8
Real Estate	7
Utilities	5
Communication Services	3
Cash	2

Total

100%

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

Market Cap Exposure as of 6/30/2024

	Equity Income	Companies
Greater than $10 billion	93.4	25
$2 billion - $10 billion	6.6	1
$0 - $2 billion	0.0	0

Total

100%

This website is intended for informational purposes only and contains the opinions of Hamlin. Nothing herein constitutes an offer to sell, a solicitation of an offer to purchase any securities nor does it constitute an endorsement with respect to any investment area or vehicle. The above information represents Hamlin’s ten largest holdings, by market value. Each quarter, Hamlin uses this same objective, non-performance based criteria to select the ten largest holdings. Information shown in the portfolio profile is presented as of the date indicated and is subject to change at any time without prior notice. Hamlin portfolio managers and analysts closely monitor the securities held in client portfolios. If a company’s underlying fundamentals or valuation measures change, Hamlin may reevaluate its holdings and may sell or cover part or all of its position. Median P/E is the median of the P/E ratios for each stock held in Hamlin’s portfolio. Information used in calculations are sourced from FactSet. It should not be assumed that investments in the securities identified on this page were or will be profitable.

All Investments involve risk including loss of principal.