Strategy. Under normal conditions, the Adviser seeks to achieve the Funds investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities of mid-cap domestic companies. The Adviser considers mid-cap companies to be those with market capitalizations that fall within the range of the market capitalizations of companies in the Russell Midcap Growth Index. As of September 30, 2025, the range was from $1.1 billion to $127.6 billion dollars. Market capitalization is measured at the time of purchase. The Fund invests primarily in companies the Adviser believes have above average growth prospects. The Adviser conducts an in-depth analysis of a companys fundamentals to identify those companies it believes have … Show more… Under normal conditions, the Adviser seeks to achieve the Funds investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities of mid-cap domestic companies. The Adviser considers mid-cap companies to be those with market capitalizations that fall within the range of the market capitalizations of companies in the Russell Midcap Growth Index. As of September 30, 2025, the range was from $1.1 billion to $127.6 billion dollars. Market capitalization is measured at the time of purchase. The Fund invests primarily in companies the Adviser believes have above average growth prospects. The Adviser conducts an in-depth analysis of a companys fundamentals to identify those companies it believes have the potential to compound earnings at an above-average rate for an extended period of time. The Fund invests primarily in companies the Adviser believes possess 3G criteria: durable growth, sound governance, and scalable go-to-market strategies. In considering durable growth, the Adviser assesses whether there is a large and growing market, whether the company is a market leader and/or is gaining market share, and whether a company has a differentiated product offering. The Adviser examines a companys governance characteristics including the strength of management, whether there is a shareholder-friendly board, and whether there is an aligned incentive system between management and shareholders. Finally, the Adviser evaluates whether a companys go-to-market strategies will result in incremental revenue, high and/or rising margins, and the efficient use of capital. Equity securities include domestic common and preferred stock, convertible debt securities, American Depositary Receipts (ADRs), real estate investment trusts (REITs), exchange traded funds (ETFs), and other types of investment companies. The Fund may also invest in private placements in these types of securities. The Fund may invest in ETFs and other types of investment companies that have an investment objective similar to the Funds or that otherwise are permitted investments with the Funds investment policies described herein. ADRs are equity securities traded on U.S. securities exchanges, which are generally issued by banks or trust companies to evidence ownership of foreign equity securities. The Fund may invest up to 20% of its net assets in foreign securities. The Adviser may sell a security or reduce its position if it believes: The security subsequently fails to meet initial investment criteria; A more attractively priced security is found; or The security becomes overvalued relative to the long-term expectation. In order to respond to adverse market, economic, political, or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and principal investment strategy and invest without limit in cash and prime quality cash equivalents such as prime commercial paper and other money market instruments. A defensive position, taken at the wrong time, may have an adverse impact on the Funds performance. The Fund may be unable to achieve its investment objective during the employment of a temporary defensive measure. Show less