Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of large market capitalization U.S. companies that the Fund considers to have value characteristics. The Fund considers large market capitalization companies to be those with market capitalizations within the market capitalization range of the companies in the Russell 1000 Index . The Russell 1000 Index measures the performance of the 1,000 largest ?U.S. companies based on total market capitalization. As of December 31, 2025 , the Russell 1000 Index consisted of companies with market capitalizations of $ 1.3 billion and greater. The Fund considers a company to be a U.S. company if: the company is … Show more… Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of large market capitalization U.S. companies that the Fund considers to have value characteristics. The Fund considers large market capitalization companies to be those with market capitalizations within the market capitalization range of the companies in the Russell 1000 Index . The Russell 1000 Index measures the performance of the 1,000 largest ?U.S. companies based on total market capitalization. As of December 31, 2025 , the Russell 1000 Index consisted of companies with market capitalizations of $ 1.3 billion and greater. The Fund considers a company to be a U.S. company if: the company is incorporated in the United States; ? the companys security is primarily listed for trading in a United States market; ? the company is headquartered in the United States; or ? the company has at least half of its assets or derives at least half of its revenues in the United States. The Fund considers a company to have value characteristics if it has one or more of the following characteristics (relative to the S&P 500 Index): below-average price to earnings ratio, below-average price to book value ratio, below-average price to cash flow ratio, or below-average price to sales ratio. The Fund principally invests in large-capitalization and mid-capitalization companies, and to a lesser extent in small-capitalization companies. ?The Funds investments in equity securities may include common stocks, depositary receipts, which may include American depositary receipts (ADRs) and global depositary receipts (GDRs), and U.S. dollar-denominated foreign stocks traded on U.S. exchanges (collectively referred to as stocks). The Funds investments in stocks include dividend-paying stocks. The Manager allocates the assets of the Fund among different sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk. Each of the Funds sub-advisors determines the earnings growth prospects of companies based upon a combination of internal and external research using fundamental analysis and considering changing economic trends. The sub-advisors typically seek to invest in companies that they believe are undervalued at the time of purchase. The decision to sell a stock is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks. ? The Fund may have significant exposure to the ?Financials sector. However, as the composition of the Funds portfolio changes over time, the Funds exposure to the Financials sector, may decline, and the Funds exposure to other market sectors may increase. The Fund may invest cash balances in a government money market fund advised by the Manager, with respect to which the Manager receives a management fee. ?The Fund also may purchase and sell equity index futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs. The Fund may seek to earn additional income by lending its securities to certain qualified broker-dealers and institutions. Show less