Investment objective & strategy
As of Jan. 27, 2026 · prospectusObjective. Long-term capital appreciation.
Strategy. The fund normally invests at least 80% of its net assets, plus the amount of borrowings for investment purposes, if any, in issuers domiciled, or having their principal activities, in the United States at the time of investment, or other instruments with similar economic characteristics. In addition, the fund normally invests at least 80% of its net assets in equity securities of large capitalization companies. Large capitalization companies are those companies with market capitalizations similar to companies in the Russell 1000 Index (the Index). The size of the companies in the Index changes with market conditions and the composition of the Index. As of November 30, 2025, the median market capitalization of a company in the Index was approximately $16.68 … The fund normally invests at least 80% of its net assets, plus the amount of borrowings for investment purposes, if any, in issuers domiciled, or having their principal activities, in the United States at the time of investment, or other instruments with similar economic characteristics. In addition, the fund normally invests at least 80% of its net assets in equity securities of large capitalization companies. Large capitalization companies are those companies with market capitalizations similar to companies in the Russell 1000 Index (the Index). The size of the companies in the Index changes with market conditions and the composition of the Index. As of November 30, 2025, the median market capitalization of a company in the Index was approximately $16.68 billion and the dollar-weighted average market capitalization of the companies in the Index was approximately $1,326.64 billion. The fund invests primarily in equity securities that, in the subadvisers opinion, are undervalued or out of favor. The subadviser invests in securities that meet its value criteria, primarily price-to-earnings, price-to-book, price momentum and share change and quality, based on both quantitative and fundamental analysis. The fund expects to hold approximately 175-250 stocks under normal market conditions.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| EXXON MOBIL CORP | — | $5.07M | 4.96% |
| JPMORGAN CHASE and CO | — | $4.91M | 4.81% |
| JOHNSON&JOHNSON | — | $4.03M | 3.95% |
| BANK OF AMERICA CORPORATION | — | $2.62M | 2.57% |
| MORGAN STANLEY | — | $2.17M | 2.13% |
| GOLDMAN SACHS GROUP INC | — | $2.17M | 2.12% |
| WALT DISNEY CO/T | — | $2.11M | 2.06% |
| WELLS FARGO & CO | — | $2.01M | 1.97% |
| VERIZON COMMUNICATIONS INC | — | $1.88M | 1.84% |
| AT&T INC | — | $1.83M | 1.79% |
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. |
|---|---|---|
| M Large Cap Value Fund · MBOVX | 99% | 0.63% |
| MassMutual Diversified Value Fund · MDDAX, MDDLX, MDVNX, MDVSX, MDVYX, MDDIX, MDDRX, MMNBX | 98% | 0.60% |
| MML Equity Fund | 98% | 0.43% |
Advisers
| Firm | Role |
|---|---|
| FRANKLIN TEMPLETON FUND ADVISER, LLC | Adviser |
| Brandywine Global Investment Management, LLC | Sub-adviser |
Footnotes
- Expense ratio as of January 27, 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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