Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. Nomura Opportunity Fund seeks long-term capital growth.
Strategy. The Fund invests primarily in mid-size companies that the Manager believes offer attractive valuation and quality characteristics. The Fund invests primarily in US companies. Companies with attractive valuations are those that have a lower valuation than the companys historical average valuation and a lower valuation than the companys competitors. Companies with quality characteristics will make shareholder friendly use of its cash flow, which would include, but is not limited to: dividend payments or increases, share repurchases, and repayment of debt. The Fund also may invest up to 20% of its net assets in real estate investment trusts (REITs). The Fund may continue to hold stocks of mid-size companies that grow into larger companies and may also invest opportunistically in stocks … The Fund invests primarily in mid-size companies that the Manager believes offer attractive valuation and quality characteristics. The Fund invests primarily in US companies. Companies with attractive valuations are those that have a lower valuation than the companys historical average valuation and a lower valuation than the companys competitors. Companies with quality characteristics will make shareholder friendly use of its cash flow, which would include, but is not limited to: dividend payments or increases, share repurchases, and repayment of debt. The Fund also may invest up to 20% of its net assets in real estate investment trusts (REITs). The Fund may continue to hold stocks of mid-size companies that grow into larger companies and may also invest opportunistically in stocks of larger companies. The Fund uses a bottom-up approach to selecting investments. The Fund uses fundamental research to search for companies that the Manager believes have one or more of the following: a strong balance sheet; experienced management; and stocks that are attractively priced. The Fund attempts to stay broadly diversified, but it may emphasize certain industry sectors based upon economic and market conditions. The Fund may sell a stock if it becomes fully valued, its fundamentals have deteriorated, or alternative investments become more attractive. The Fund may also sell a stock if it grows into a large, well-established company, although it may also continue to hold such a stock irrespective of its size.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TARGA RESOURCES CORP | — | $10.03M | 1.87% |
| CIENA CORP | — | $9.38M | 1.75% |
| ROSS STORES INC | — | $9.31M | 1.74% |
| REGAL REXNORD CORP | — | $8.87M | 1.65% |
| ITT INC | — | $8.79M | 1.64% |
| TERADYNE INC | — | $8.78M | 1.64% |
| VALERO ENERGY CORP | — | $8.75M | 1.63% |
| MARRIOTT INTL-A | — | $8.74M | 1.63% |
| TWILIO INC CLASS A | — | $8.48M | 1.58% |
| L3HARRIS TECHNOLOGIES INC | — | $8.13M | 1.52% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| LVIP Nomura Mid Cap Value Fund | 98% | 0.42% |
| JNL/MFS Mid Cap Value Fund | 26% | 0.65% |
| MFS Mid Cap Value Fund · MVCAX, MVCJX, MCBVX, MVCCX, MCVIX, MVCGX, MCVRX, MVCHX, MVCKX | 26% | 0.61% |
Advisers
| Firm | Role |
|---|---|
| Macquarie Investment Management Business Trust | Adviser |
| Macquarie Investment Management Global Limited | Sub-adviser |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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