I & A Shares | Second Quarter 2011
Large Cap Growth
Subadviser Performance Update – Benchmark and Fund
Silvant Capital Management LLC - a growth equity The major issues that drove the stock market returns for the second quarter were primarily geopolitical events that
manager based in Atlanta, Georgia. centered on questions of sovereign debt. Greece’s ﬁnancial condition became news again as investors worried that
the country might default on its debt obligations and contagion would cause major turmoil. Political leaders in the
Quarterly Return (%) Fund Benchmark* United States wrangled over raising the debt ceiling, putting additional pressure on ﬁnancial markets. Furthermore,
the uncertain impact related to the Federal Reserve ending the Quantitative Easing (QE2) program and whether any
I Shares 1.13 0.76 additional measures would be taken to support the economy also weighed on investors. Market pundits fretted
A Shares (w/load) -4.76 0.76 about a slowdown in China and the global economic and environmental impact of the earthquake in Japan. These
factors as well as others raised concerns about the possibility of a mild recession (a double dip) and equity markets
Past performance is no guarantee of future results.
reacted negatively in May and June.
After three quarters in a row where all major economic sectors of the Russell 1000 Growth Index gained in value, the
Sector Weights (%) Fund Benchmark* Energy, Financials, Industrials and Technology sectors declined during the second quarter. However, growth stocks
Consumer Discretionary 16.77 14.02 across the market capitalization spectrum as measured by the Russell Indices continue to out-pace value stocks.
Speciﬁcally, large capitalization stocks as measured by the Russell 1000 Growth Index gained 0.76% during the
Consumer Staples 8.52 11.83 quarter. The RidgeWorth Large Cap Growth Stock Fund I Shares returned 1.13% exceeding the performance of its
Energy 10.32 11.57 benchmark index by 37 basis points.
Financial Services 4.41 3.98
Health Care 10.41 10.93 Contributors to Performance
Industrials 16.04 13.48 The Fund had positive stock selection in four major economic sectors and also beneﬁted from 14 stocks in various
Information Technology 29.19 26.97 industries that increased in value by more than 10% during the quarter. Stock selection was especially good
within Consumer Staples for the second quarter in a row. Green Mountain Coffee Roasters continued adding
Materials 4.35 5.99 value rising by more than 35%. When the company reported its ﬁrst quarter ﬁnancial results in May the earnings
Telecom Services 0.00 1.15 growth exceeded investor expectations by 27% because of continued growth of K-cups and Brewer sales. The year-
Utilities 0.00 0.08 over-year earnings growth increased 140%. In addition, the Fund’s aerospace stocks performed well as backlogs
increased and investors began to anticipate an upturn in this late cycle business.
*Russell 1000 Growth
Overweight / Underweight / Neutral Detractors from Performance
Portfolio composition is subject to change.
Stock selection within the Energy, Financials and Technology sectors hindered relative performance during
the quarter. The Fund’s Energy stocks lagged the broader Russell Energy sector for company-speciﬁc reasons.
Biggest Contributors Peabody Energy, a coal producer, disappointed investors when they reported quarterly earnings. The shortfall in
earnings resulted from production problems and ﬂooding in their Australian mines. The Fund continues to hold
Hansen Natural Corporation Peabody Energy because of strong asian metallurgical coal and thermal coal demand. Its coal assets in Australia
Coach Incorporated and the U.S should bode well for the company as demand continues.
Green Mountain Coffee Roasters Incorporated
Visa Incorporated Performance Attribution
Bed Bath & Beyond Incorporated Sector Weight Stock Selection Total
(In Percents Positive / Negative) Impact Impact Impact
Biggest Detractors Consumer Discretionary 0.08 0.37 0.46
Consumer Staples -0.05 0.63 0.58
Juniper Networks Incorporated
Peabody Energy Corporation Energy 0.06 -0.18 -0.12
Google Inc. Cl A Financials -0.00 -0.26 -0.26
Cameron International Corporation Health Care 0.02 0.27 0.28
ASML Holding N.V. Industrials -0.02 0.31 0.28
Information Technology 0.01 -0.61 -0.60
Materials -0.01 -0.08 -0.09
Telecom Services 0.00 -- 0.00
Utilities -0.01 -- -0.01
Total 0.08 0.45 0.53
Performance attribution does not incorporate the effects of cash, unclassiﬁed securities or expenses. The total impact
may not equal the difference between Fund and Benchmark returns.
I & A Shares | Second Quarter 2011 Page 2
Large Cap Growth
Performance vs. Benchmark and Peers (%) As of 6/30/11 QTD 1 year 3 year 5 year 10 year
Large Cap Growth Stock Fund – I Shares* 1.13 40.42 5.62 5.62 2.09
Large Cap Growth Stock Fund – A Shares* (w/ 5.75% load) -4.76 31.99 3.25 4.08 1.04
Russell 1000 Growth Index 0.76 35.01 5.01 5.33 2.24
Morningstar Large Growth Funds 0.10 33.08 3.02 4.07 2.24
* I shares inception date is 7/1/92. A shares inception date is 6/9/92.
Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an
The Morningstar Mutual Funds Average is an equally weighted average of the mutual funds within their respective investment objectives, adjusted for the reinvestment of capital
gains distributions and income dividends.
Past performance is no guarantee of future results. The performance quoted represents past performance and current returns may be higher or lower. The investment return
and net asset value will ﬂuctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain RidgeWorth Funds performance
information current to the most recent month end, visit www.ridgeworth.com.
The expense ratios for the I and A Shares are 1.04% and 1.34% respectively. Investment performance reﬂects voluntary fee waivers which may be discontinued at any time.
Without these fee waivers, performance would have been lower.
Strategy and Outlook
The investment team continues to focus on stocks that best ﬁt our investment criteria: those with high earnings quality and positive fundamental trends that lead to rising earnings,
efﬁciently managed capital structures and reasonable valuations. The team attempts to derive the majority of outperformance through stock selection, minimizing the potential
impact of unintended style bias and macroeconomic risk. This bottom-up stock selection coupled with disciplined risk management is cornerstone to our investment process.
Important Information and Investment Concerns
Securities mentioned (% of portfolio): Hansen Natural Corporation (1.59), Coach Incorporated (2.09), Green Mountain Coffee Roasters Incorporated (1.25) Visa Incorporated
(2.73), Bed Bath & Beyond Incorporated (1.62), Juniper Networks Incorporated (1.31), Peabody Energy Corporation (1.17), Google Incorporated Cl A (3.01), Cameron International
Corporation (1.50), ASML Holding N.V. (0.92).
Stocks may be more volatile and carry more risk and return potential than other forms of investments. Mutual fund investing involves risk,including the possible loss of principal.
A basis point is equal to 0.01%.
The Russell 1000 Growth Index is an unmanaged index composed of securities in the Russell 1000® Index, with higher than average price-to-book ratios and higher than average
forecasted growth values. Investors cannot invest directly in an index.
The views expressed by the Fund’s managers are as of the quarter-end speciﬁed. This information is subject to change without notice as market conditions change, and is not
intended to predict the performance of any individual security, market sector, or RidgeWorth Fund.
Past performance does not guarantee future results.
An investor should consider the fund’s investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important
information about the RidgeWorth Funds can be found in the fund’s prospectus. To obtain a prospectus, please call 1-888-784-3863 or visit www.ridgeworth.com. Please read
the prospectus carefully before investing.
®2011 RidgeWorth Funds. RidgeWorth Funds are distributed by RidgeWorth Distributors LLC. RidgeWorth Investments is the trade name for RidgeWorth Capital Management, Inc.,
the adviser to the RidgeWorth Funds, and is not afﬁliated with the distributor.
• Not FDIC Insured • No Bank Guarantee • May Lose Value