1. Firms we don’t use (10 years ended May 3, 2016 Source: Morningstar)
AUM
% of Funds that Outperform
Fidelity
$1,237b
41%
Franklin Templeton
$386.0b
40%
Mainstay
$58.6b
31%
Hartford
$89.4b
30%
Putnam
$64.2b
29%
Eaton Vance
$63.4b
25%
Federated
$62.4b
28%
Morgan Stanley
$26.6b
Columbia
$141.0b
27%
Goldman Sachs
$82.0b
24%
AllianceBernstein
$61.7b
22%
John Hancock
$121.8b
23%
Oppenheimer
$173.0b
Voya
$209.0b 3%

2. Firms we do use (10 years ended May 3, 2016 Source: Morningstar)
Firms we use in MWP
AUM
% of Funds that Outperform
Causeway
$8.5b
100%
Jensen
$5.0b
Primecap Odyssey
$18.5b
Tweedy Browne
$9.9b
Harding Loevner
$11.7b
Oakmark
$71.0b
92%
Loomis Sayles
$23.0b
89%
T. Rowe Price
$466b
86%
Vanguard
$2,494b
84%
Artisan
$17.0b
80%
MetWest
$82.0b
77%
Dodge & Cox
$171.0b
75%
PIMCO
$287.0b
70%