Value Line High Dividend Portfolio

Participate in the income potential of U.S. companies with a consistent history of distributing profits to shareholders. The Value Line High Dividend Portfolio invests in companies that have demonstrated a history of consistent or higher dividend payments over eight consecutive quarters.

Investment Objective

Capital Appreciation and Income

Portfolio Characteristics

Number of Stocks	51
Average Market Cap	$19B
Trading Frequency	Quarterly
Rebalancing Frequency	Annually

Investment Approach

Candidate companies have demonstrated a history of distributing profits to shareholders through consistent or higher dividend payments over eight consecutive quarters. At selection, companies must also have a Value Line® Timeliness™ Rank and Value Line® Safety™ Rank of 1, 2 or 3; a stock price of at least $5; and market capitalization of at least $2 billion; in addition to other proprietary criteria. The Portfolio will consist of approximately 50 positions.

How Stocks Are Selected

The Portfolio will consist of stocks meeting the following criteria:

Dividend paying stocks and ADRs
Stock price at least $5 and market capitalization at least $2B
Consistent or growing dividend
Value Line® Timeliness™ Rank and Value Line® Safety™ Rank of 1, 2 or 3
Additional performance criteria
The Portfolio consists of approximately 50 stocks
Companies are generally selected each quarter with a monthly review for Rank changes
Portfolio weights are rebalanced annually

Top 10 Holdings (%) as of 06/30/24

Company Name	Weight (%)
Broadcom Inc	3.04
Dick's Sporting Goods Inc	2.77
Coca-Cola Consolidated Inc	2.41
Costco Wholesale Corp	2.36
Sylvamo Corp Ordinary Shares When Issued	2.32
Fulton Financial Corp	2.26
Stifel Financial Corp	2.24
Wells Fargo & Co	2.23
ONEOK Inc	2.21
Janus Henderson Group PLC	2.18

Performance as of 06/30/24

Name	QTD	YTD	1 Year	3 Year	5 Year	Since Incep*
Value Line High Dividend Portfolio (Gross)	-2.31%	8.02%	21.69%	10.20%	13.70%	13.59%
Value Line High Dividend Portfolio (Net)	-2.41%	7.80%	21.21%	9.76%	13.24%	13.13%
S&P 500 Index	4.28%	15.29%	24.56%	10.01%	15.05%	15.09%
*Since Inception returns reflect the Composite inception date of 10/31/2018. Performance shown for periods 1 year and greater are annualized. Net Returns are inclusive of EAM’s investment advisory fee of 40 bps and no other transaction costs. Actual fees incurred by clients may vary because of additional bundled fees, such as custodian fees, other management fees, or platform fees, that are not fees charged by or known to EAM. All investments involve risks, including loss of capital, and there is no guarantee that investment objectives will be met.

Sector Distribution as of 06/30/24

Source: Morningstar Direct

How to Invest

Separately managed accounts are provided by EULAV Asset Management. The Value Line High Dividend Portfolio is currently available through our partners, Envestnet and SMArtX Advisory Solutions.

Portfolio Fact Sheet

Portfolio GIPS Report

Do you have questions?

Please reach out to our SMA support team at:

Crystal Barrett
Sales Director

Data shows past performance, which is not indicative of future performance. Information contained herein has been prepared for illustrative purposes only. Although the information provided has been obtained from sources which EULAV Asset Management (EAM) believes to be reliable, it does not guarantee accuracy or completeness of such information. Opinions represented are not intended as an offer or solicitation with respect to the purchase or sale of any security or product and are subject to change without notice. Equity markets are volatile and an investor may lose money. For a complete discussion of the risks involved, please see our ADV Part 2A (Brochure).

EAM acts as either a discretionary investment manager or a non-discretionary model provider in a variety of separately managed account programs. Any performance information included herein represents the performance achieved by EAM as a discretionary investment manager with trade implementation responsibility. Separately managed accounts are provided by EAM and are independent of the Value Line Funds.

Value Line, Value Line Logo, Timeliness, Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. Used by permission. Third-party trademarks and service marks appearing herein are the property of their respective owners.