Investment objective & strategy
As of April 30, 2025 · prospectusObjective. Above average dividend income and long-term capital growth.
Strategy. The fund invests primarily in equity securities of larger-sized U.S. companies (those with a market capitalization above $20 billion) that its Adviser believes offer opportunities for above-average dividend income and capital growth. The Adviser seeks companies with high quality characteristics such as sustainable competitive positions that have high-quality earnings, financial strength, strong or improving balance sheets, free cash flow, and shareholder-oriented managements. The Adviser also considers current dividend yield and dividend growth, as well as its analysis of the share price of these companies using traditional valuation measures. The fund may invest a portion of its assets in preferred stocks. The fund may sell a security if the security reaches the Advisers valuation target, if the Adviser believes the companys … The fund invests primarily in equity securities of larger-sized U.S. companies (those with a market capitalization above $20 billion) that its Adviser believes offer opportunities for above-average dividend income and capital growth. The Adviser seeks companies with high quality characteristics such as sustainable competitive positions that have high-quality earnings, financial strength, strong or improving balance sheets, free cash flow, and shareholder-oriented managements. The Adviser also considers current dividend yield and dividend growth, as well as its analysis of the share price of these companies using traditional valuation measures. The fund may invest a portion of its assets in preferred stocks. The fund may sell a security if the security reaches the Advisers valuation target, if the Adviser believes the companys fundamentals have changed, or if the company is not performing as expected. Under normal circumstances, at least 80% of the funds total assets will be invested in income-producing equity securities. For the purposes of the 80% test, equity securities include common stock, preferred stocks and exchange traded funds (ETFs) that invest primarily in equity securities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MICROSOFT CORP | — | $26.97M | 3.92% |
| AMERICAN ELECTRIC POWER CO INC | — | $23.08M | 3.35% |
| AMAZON.COM INC | — | $22.66M | 3.29% |
| WILLIAMS COS INC | — | $22.60M | 3.28% |
| VISA INC-CLASS A | — | $20.28M | 2.94% |
| NVENT ELECTRIC | — | $18.27M | 2.65% |
| DANAHER CORP | — | $17.83M | 2.59% |
| ALPHABET INC CL A | — | $16.77M | 2.43% |
| COLGATE-PALMOLIVE CO | — | $15.77M | 2.29% |
| APPLE INC | — | $15.67M | 2.28% |
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. |
|---|---|---|
| VANGUARD DIVIDEND GROWTH FUND · VDIGX | 38% | 0.22% |
| CONNORS HEDGED EQUITY FUND | 35% | 1.10% |
| VANGUARD ADVICE SELECT DIVIDEND GROWTH FUND · VADGX | 34% | 0.36% |
Advisers
| Firm | Role |
|---|---|
| Johnson Investment Counsel, Inc. | Adviser |
Footnotes
- Expense ratio as of April 30, 2025, 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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