Investment objective & strategy
As of Feb. 27, 2026 · prospectusObjective. The Funds goal is to seek long-term capital appreciation.
Strategy. The Fund pursues its investment goal by investing in a diversified portfolio of equity and equity-related securities throughout the world, including in emerging markets. Under normal circumstances, the Fund invests at least 80% of its net assets, including any borrowings for investment purposes, in securities of large capitalization companies. The Adviser currently defines large capitalization companies as companies having, at the time of initial investment, a market capitalization equal to or greater than the largest 70% by market capitalization of the companies that comprise the MSCI ACWI Investable Market Index (IMI). The Fund may continue to hold securities of companies whose market capitalizations fall below the foregoing threshold subsequent to the Funds investment in such securities. As of December 31, … The Fund pursues its investment goal by investing in a diversified portfolio of equity and equity-related securities throughout the world, including in emerging markets. Under normal circumstances, the Fund invests at least 80% of its net assets, including any borrowings for investment purposes, in securities of large capitalization companies. The Adviser currently defines large capitalization companies as companies having, at the time of initial investment, a market capitalization equal to or greater than the largest 70% by market capitalization of the companies that comprise the MSCI ACWI Investable Market Index (IMI). The Fund may continue to hold securities of companies whose market capitalizations fall below the foregoing threshold subsequent to the Funds investment in such securities. As of December 31, 2025, the smallest market capitalization in this group was $37.6 billion. This capitalization range will change as the size of the companies in the index changes with market conditions and the composition of the index. The Fund employs multiple investment strategies which the Adviser believes are complementary. The Fund invests in securities the Adviser believes have potential for above average returns and active currency strategies. The Fund invests primarily in securities listed on securities exchanges or actively traded in over-the-counter markets either within or outside the issuers domicile country. The securities may be listed or traded in the form of American Depositary Receipts (ADRs), European Depositary Receipts (EDRs) and Global Depositary Receipts (GDRs), or other types of depositary receipts (including non-voting depositary receipts) or dual listed securities. The Fund may also invest in government fixed income securities, other investment companies, including exchange-traded funds (ETFs), and a variety of derivatives, including futures, options, swaps, and other derivative instruments, to seek to increase or seek to hedge, or protect, its exposure to, for example, currency value fluctuations or movements in the securities markets. In addition, the Fund may engage in short sales. The foreign securities in which the Fund may invest may be issued by issuers located in emerging market or developing market countries. Fixed income securities held by the Fund may be of any maturity. The Fund may employ a quantitative strategy. Under a quantitative strategy, the Fund may invest in U.S. and non-U.S. equity securities with a minimum market capitalization of $250 million. The Fund may, to a lesser extent, also employ quantitative strategies focused on one or more industries. The Adviser has engaged sub-advisers to make the day-to-day investment decisions for portions of the Funds portfolio.
Top holdings
As of Jan. 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $1.51B | 6.07% |
| ALPHABET INC CL C | — | $1.21B | 4.86% |
| APPLE INC | — | $955.96M | 3.85% |
| MICROSOFT CORP | — | $810.94M | 3.26% |
| AMAZON.COM INC | — | $774.53M | 3.12% |
| BROADCOM INC | — | $607.31M | 2.44% |
| META PLATFORMS INC CL A | — | $512.56M | 2.06% |
| Federated U.S. Treasury Cash Reserves | UTPXX | $485.59M | 1.95% |
| JPMORGAN CHASE and CO | — | $454.90M | 1.83% |
| LILLY ELI and CO | — | $289.42M | 1.16% |
Portfolio moves
Oct 31, 2025 → Jan 30, 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. |
|---|---|---|
| Old Westbury Total Equity Fund · OWTEX | 70% | 0.99% |
| iShares MSCI Kokusai ETF · TOK | 48% | 0.25% |
| Xtrackers MSCI Kokusai Equity ETF · KOKU | 47% | 0.09% |
Advisers
| Firm | Role |
|---|---|
| Sands Capital Management, LLC | Sub-adviser |
| Aikya Investment Management | Sub-adviser |
| Bessemer Investment Management LLC | Adviser |
Footnotes
- Expense ratio as of February 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 30, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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