Strategy. The Portfolio invests, under normal circumstances, at least 80% of its net assets in common stock of companies with larger market capitalizations within the market capitalization range and composition of the companies composing the Russell 1000 Index (as of December 31, 2024, this range was between approximately $355.11 million and $3.79 trillion). The market capitalization and composition of the companies in the Russell 1000 Index are subject to change. The Portfolio engages in leverage by investing in Russell 1000 Growth Index derivatives, the notional value of which equals approximately 20% of the Portfolios net assets. The Portfolios derivatives exposure is backed by a portfolio of fixed income securities representing approximately 20% of the Portfolios net assets. A Russell 1000 Growth … Show more… The Portfolio invests, under normal circumstances, at least 80% of its net assets in common stock of companies with larger market capitalizations within the market capitalization range and composition of the companies composing the Russell 1000 Index (as of December 31, 2024, this range was between approximately $355.11 million and $3.79 trillion). The market capitalization and composition of the companies in the Russell 1000 Index are subject to change. The Portfolio engages in leverage by investing in Russell 1000 Growth Index derivatives, the notional value of which equals approximately 20% of the Portfolios net assets. The Portfolios derivatives exposure is backed by a portfolio of fixed income securities representing approximately 20% of the Portfolios net assets. A Russell 1000 Growth Index derivative is a derivative contract, typically a swap agreement, that uses the Russell 1000 Growth Index as its reference asset. The portion of the Portfolio invested in Russell 1000 Growth Index derivatives seeks to track the daily performance of the Russell 1000 Growth Index (the Swaps Strategy) and invests in such derivatives in addition to or in place of companies within the Russell 1000 Growth Index. In addition to swaps, the Portfolio may invest in other types of derivatives including options, futures, options on futures, and other similar instruments. For purposes of the Portfolios 80% test, Russell 1000 Growth Index derivatives will be counted as common stocks of companies with larger market capitalizations and will be valued at notional value rather than market value. Fixed income securities held by the Portfolio may include bonds, debt securities, asset-backed and mortgage-backed securities and other similar instruments. The fixed income securities are typically expected to have a duration between zero and two years. The Portfolio may invest in below investment grade debt securities, commonly known as high-yield securities or junk bonds. The Portfolio may invest a portion of its assets in equity securities of foreign companies traded in the U.S., including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). The Portfolio invests in companies that historically have above average earnings, cash flow growth or sales growth and retention of earnings, and often such companies have above average price to earnings ratios. The Portfolio may focus its investments in companies in one or more economic sectors. The Portfolio may invest more of its assets in the securities of a single issuer or a smaller number of issuers. The Portfolio uses a multi-manager strategy where Wilshire and multiple subadvisers employ different strategies with respect to separate portions of the Portfolio in order achieve the Portfolios investment objective. Wilshire typically allocates the Portfolios assets among the Portfolios subadvisers in accordance with its outlook for the economy and the financial markets. Each of AllianceBernstein, L.P. (AllianceBernstein), Los Angeles Capital Management LLC (Los Angeles Capital), Fred Alger Management, LLC (Alger Management), and Voya Investment Management Co LLC (Voya) manage a portion of the Portfolio and Wilshire manages the Swaps Strategy portion of the Portfolio. AllianceBernstein stresses fundamental, bottom-up security analysis in identifying highly profitable businesses with the opportunity to reinvest profitably for long-term, non-cyclical growth that are priced at valuations that do not adequately reflect their long-term growth potential. AllianceBernstein conducts in-depth research to identify companies whose long-term fundamental performance is likely to persist in terms of both magnitude and duration. Los Angeles Capital employs a quantitative investment process for security selection and risk management. Los Angeles Capital utilizes its proprietary Dynamic Alpha Stock Selection Model to build equity portfolios that adapt to market conditions. The model considers a range of valuation, earnings and management characteristics to identify current drivers of return. Alger Managements investments in equity securities are primarily in common or preferred stocks, but its equity investments also may include securities convertible into or exchangeable for equity securities (including warrants and rights) and depositary receipts. Alger Management invests primarily in companies whose securities are traded on U.S. or foreign exchanges or in the over-the-counter market. Alger Management believes companies undergoing positive dynamic change offer the best investment opportunities. Positive dynamic change refers to companies realizing high unit volume growth or companies undergoing positive lifecycle change. High unit volume growth companies are traditional growth companies experiencing, for example, rapidly growing demand or market dominance. Positive lifecycle change companies are, for example, companies benefiting from new regulations, a new product innovation or new management. In managing its portion of the Portfolio, Voya focuses on managing a broad array of fixed income investment opportunities, including but not limited to U.S. government securities, securities of foreign governments, and supranational organizations; bank loans; notes that can invest in securities with any credit rating; mortgage-backed, asset-backed debt securities and other structured credit securities, commercial paper and debt securities of foreign issuers, including emerging market countries. In addition, Voya may also invest in its affiliated registered investment companies. The Portfolio may appeal to you if: you are a long-term investor; you seek growth of capital; you believe that the market will favor a particular investment style, such as large cap growth stocks, over other investment styles in the long term and you want a more focused exposure to that investment style; or you own other funds or stocks which provide exposure to some but not all investment styles and would like a more complete exposure to the equity market. Show less