Investment objective & strategy
As of April 19, 2023 · prospectusObjective. The investment objective of the Portfolio is long-term growth of capital.
Strategy. The Portfolio invests primarily in equity and equity-related securities, which may range up to 70 US companies that are selected by the Portfolios two portfolio managers (approximately 20-35 by each) as having strong capital appreciation potential. Each portfolio manager is responsible for selecting the securities within his discipline. The growth portfolio manager believes that growth in earnings and cash flows drives share prices over the long term; that excess returns are generated by investing in market-leading companies that create economic value through long-duration competitive advantages; and that a deeply researched understanding of company and industry fundamentals leads to successful stock selection. The growth portfolio manager looks for companies with unique business models that build sustainable competitive advantages; catalysts that drive … The Portfolio invests primarily in equity and equity-related securities, which may range up to 70 US companies that are selected by the Portfolios two portfolio managers (approximately 20-35 by each) as having strong capital appreciation potential. Each portfolio manager is responsible for selecting the securities within his discipline. The growth portfolio manager believes that growth in earnings and cash flows drives share prices over the long term; that excess returns are generated by investing in market-leading companies that create economic value through long-duration competitive advantages; and that a deeply researched understanding of company and industry fundamentals leads to successful stock selection. The growth portfolio manager looks for companies with unique business models that build sustainable competitive advantages; catalysts that drive growth rates well above that of the market; superior financial characteristics; and attractive long-term valuations. The growth portfolio manager seeks to capture acceleration or duration of growth that is not fully reflected in a stocks price. The value portfolio manager seeks investments in companies he believes are being valued at a discount to their intrinsic value. A companys valuation is very important in this determination, as are the durability of a companys free cash flow and earnings growth. A disciplined process to manage risk in both security selection and portfolio construction is a critical component of the value portfolio managers investment process.
Top holdings
As of Sept. 29, 2023 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MICROSOFT CORP | — | $7.69M | 6.65% |
| LILLY ELI and CO | — | $5.51M | 4.76% |
| NVIDIA CORP | — | $5.41M | 4.68% |
| AMAZON.COM INC | — | $4.61M | 3.99% |
| META PLATFORMS INC CL A | — | $4.37M | 3.78% |
| WALMART INC | — | $3.40M | 2.94% |
| ASTRAZENECA PLC SPONS ADR | — | $3.38M | 2.92% |
| HESS CORP | — | $3.38M | 2.92% |
| PGIM Institutional Money Market Fund - D | — | $3.11M | 2.69% |
| ADV MICRO DEVICE | — | $3.04M | 2.63% |
Portfolio moves
Jun 30, 2023 → Sep 29, 2023How 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. |
|---|---|---|
| Sphere 500 Climate Fund | 41% | 0.07% |
| Mercer US Large Cap Equity Fund | 40% | 0.31% |
| T. Rowe Price Equity Index 500 Portfolio | 40% | 0.39% |
Footnotes
- Net assets and holdings count as of September 29, 2023, from the fund's N-PORT filing.
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.