Investment objective & strategy
As of Oct. 29, 2025 · prospectusObjective. The investment objective of the Fund is long-term capital appreciation .
Strategy. The Funds subadviser normally invests at least 80% of the Fund's investable assets in equity and equity-related securities of medium-sized companies with the potential for above-average growth. The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. The Funds investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The Fund considers medium-sized companies to be those with market capitalizations that are within the market capitalization range of the Russell Midcap Index. Market capitalization is measured at the time of purchase. The market capitalizations within the Russell Midcap Index will vary, but as of September 30, 2025, the … The Funds subadviser normally invests at least 80% of the Fund's investable assets in equity and equity-related securities of medium-sized companies with the potential for above-average growth. The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. The Funds investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The Fund considers medium-sized companies to be those with market capitalizations that are within the market capitalization range of the Russell Midcap Index. Market capitalization is measured at the time of purchase. The market capitalizations within the Russell Midcap Index will vary, but as of September 30, 2025, the median capitalization was $14.4 billion, and the largest company by market capitalization was $95.8 billion. The Fund may invest in equity securities of companies with market capitalizations larger or smaller than previously noted, consistent with its investment objective. In deciding which equities to buy, the subadviser uses what is known as a growth investment style. This means the subadviser invests in companies that it believes could experience superior sales or earnings growth. In addition to buying equities, the Fund may invest in other equity-related securities. Equity-related securities include American Depositary Receipts (ADRs); American Depositary Shares (ADSs); common stocks; non-convertible preferred stocks; warrants and rights that can be exercised to obtain stock; and the common and preferred stock of real estate investment trusts (REITs). At times, the Fund may have a significant portion of its assets invested in the same economic sector.
Top holdings
As of Feb. 27, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| PRUDENTIAL INVESTMENT PORTFOLIOS 2 PRUDENTIAL INSTITUTIONA 0.00000000 | — | $200.32M | 10.76% |
| BURLINGTON STORES INC | — | $71.00M | 3.81% |
| HILTON WORLDWIDE HOLDINGS INC | — | $66.93M | 3.60% |
| QUANTA SVCS INC | — | $65.87M | 3.54% |
| CENCORA INC | — | $60.75M | 3.26% |
| VISTRA CORP | — | $60.47M | 3.25% |
| RBC BEARINGS INC | — | $52.51M | 2.82% |
| MONOLITHIC POWER SYS INC | — | $52.02M | 2.79% |
| PERFORMANCE FOOD GROUP CO | — | $51.89M | 2.79% |
| TAKE-TWO INTERACTV SOFTWR INC | — | $51.50M | 2.77% |
Portfolio moves
Nov 28, 2025 → Feb 27, 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. |
|---|---|---|
| Carillon Eagle Mid Cap Growth Fund · HAGAX, HAGCX, HAGIX, HRAUX | 35% | 0.02% |
| Goldman Sachs Variable Insurance Trust Mid Cap Growth Fund | 34% | 0.83% |
| Victory RS Mid Cap Growth Fund · RSMOX, RMOCX, RMOYX, RMORX, RMOMX | 34% | 0.94% |
Advisers
| Firm | Role |
|---|---|
| PGIM INVESTMENTS LLC | Adviser |
| Jennison Associates LLC | Sub-adviser |
Footnotes
- Expense ratio as of October 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 27, 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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