Investment objective & strategy
As of April 19, 2023 · prospectusObjective. The investment objective of the Portfolio is long-term growth of capital.
Strategy. In pursuing its investment objective, the Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in the equity securities of small capitalization companies. The Portfolio generally defines small capitalization companies as those companies with market capitalizations within the market capitalization range of the Russell 2000 Value Index. Securities of companies whose market capitalizations no longer meet the definition of small capitalization companies after purchase by the Portfolio may still be considered to be small capitalization companies for purposes of the Portfolio's policy of investing, under normal circumstances, at least 80% of the value of its assets in small capitalization companies. The Portfolio seeks to invest in companies that are believed to … In pursuing its investment objective, the Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in the equity securities of small capitalization companies. The Portfolio generally defines small capitalization companies as those companies with market capitalizations within the market capitalization range of the Russell 2000 Value Index. Securities of companies whose market capitalizations no longer meet the definition of small capitalization companies after purchase by the Portfolio may still be considered to be small capitalization companies for purposes of the Portfolio's policy of investing, under normal circumstances, at least 80% of the value of its assets in small capitalization companies. The Portfolio seeks to invest in companies that are believed to be undervalued in the marketplace. The Portfolio may invest up to 25% of its assets in foreign securities. Although the Portfolio will invest primarily in publicly traded US securities, including real estate investment trusts (REITs), it may also invest in foreign securities, including securities of issuers in countries with emerging markets or economies (emerging countries) and securities quoted in foreign currencies. The Portfolio seeks to meet its investment objective by investing in value opportunities that the subadviser defines as companies with identifiable competitive advantages whose intrinsic value is not reflected in the stock price.
Top holdings
As of March 31, 2023 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| PGIM Institutional Money Market Fund - D | — | $40.30M | 14.29% |
| iShares Trust RUSSELL 2000 VALUE ETF | IWN | $4.13M | 1.46% |
| PHYSICIANS REALTY TRUST | — | $3.85M | 1.37% |
| STAG INDUSTRIAL INC CL A | — | $3.28M | 1.16% |
| TERRENO REALTY CORP | — | $3.17M | 1.12% |
| SELECTIVE INSURANCE GROUP INC | — | $3.11M | 1.10% |
| ARCOSA INC | — | $3.06M | 1.09% |
| KBR INC | — | $3.05M | 1.08% |
| HOSTESS BRANDS INC CL A | — | $3.02M | 1.07% |
| MERITAGE HOMES CORP | — | $2.99M | 1.06% |
Portfolio moves
Dec 30, 2022 → Mar 31, 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. |
|---|---|---|
| JPMorgan Insurance Trust Small Cap Core Portfolio | 19% | 0.80% |
| SPDR(R) S & P 600 Small Cap ETF · SLY | 19% | 0.15% |
| Principal U.S. Small-Cap Adaptive Multi-Factor ETF | 18% | 0.19% |
Footnotes
- Net assets and holdings count as of March 31, 2023, from the fund's N-PORT filing.
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