Strategy. The Fund primarily invests in equity securities of U.S. large cap companies. The Fund considers large cap companies to be those with market capitalizations similar to companies listed on the Russell 1000 Value Index at the time of investment. As of March 31, 2025, the market capitalization of companies listed on the Russell 1000 Value Index ranged from $476.0 million to $1.1 trillion and the median was $14.0 billion. Using fundamental, bottom-up research, the Funds portfolio manager utilizes a multi-factored valuation method to identify stocks of large cap companies that he believes are undervalued at the time of purchase. To identify these companies, the Funds portfolio manager looks for companies with earnings, cash flows and/or assets that he believes are … Show more… The Fund primarily invests in equity securities of U.S. large cap companies. The Fund considers large cap companies to be those with market capitalizations similar to companies listed on the Russell 1000 Value Index at the time of investment. As of March 31, 2025, the market capitalization of companies listed on the Russell 1000 Value Index ranged from $476.0 million to $1.1 trillion and the median was $14.0 billion. Using fundamental, bottom-up research, the Funds portfolio manager utilizes a multi-factored valuation method to identify stocks of large cap companies that he believes are undervalued at the time of purchase. To identify these companies, the Funds portfolio manager looks for companies with earnings, cash flows and/or assets that he believes are not accurately reflected in the companies market values. The portfolio manager also considers various ratios, including the price-to-earnings or price-to-book value ratios and whether the companies securities have a favorable dividend and/or interest-paying history and whether such payments are expected to continue. The portfolio manager attempts to purchase the stocks of these undervalued companies and hold each stock until it has returned to favor in the market and the price has increased to, or is higher than, a level the portfolio manager believes more accurately reflects the fair value of the company. The Fund seeks to preserve capital in down markets and to diversify its portfolio in traditional, as well as relative, value-oriented investments. The Fund may from time to time overweight its investments in certain market sectors. Under normal circumstances, the Fund invests at least 80% of its total assets (plus borrowings for investment purposes) in equity securities of U.S. large cap companies. This policy may be changed only upon at least 60 days advance notice to shareholders. Equity securities in which the Fund may invest include common stocks, securities convertible into common stocks (such as convertible bonds, convertible preferred stocks and warrants), equity real estate investment trusts (REITs), and master limited partnership interests (MLPs). The Fund may invest in the applicable securities directly, or indirectly through other investment companies (including exchange-traded funds) that invest primarily in such securities. The Fund may also invest in high grade government bonds of varying maturities, typically one to ten years. The Fund may from time to time overweight its investments in certain market sectors. Show less