Strategy. The Portfolio normally invests at least 80% of net assets, plus borrowings for investment purposes, in common stocks of a diversified group of growth companies. The Portfolio typically invests in large, well-established companies with market capitalizations equal to those within the universe of the Russell 1000 Growth Index at the time of purchase. As of December 31, 2024, the market capitalizations of the companies in the Russell 1000 Growth Index ranged from approximately $ 1.65 billion to $3.81 trillion. The size of companies in the index changes with market conditions, which can result in changes to the market capitalization range of companies in the index. Typically, in implementing its strategy, the Portfolio invests in common stocks of companies with a … Show more… The Portfolio normally invests at least 80% of net assets, plus borrowings for investment purposes, in common stocks of a diversified group of growth companies. The Portfolio typically invests in large, well-established companies with market capitalizations equal to those within the universe of the Russell 1000 Growth Index at the time of purchase. As of December 31, 2024, the market capitalizations of the companies in the Russell 1000 Growth Index ranged from approximately $ 1.65 billion to $3.81 trillion. The size of companies in the index changes with market conditions, which can result in changes to the market capitalization range of companies in the index. Typically, in implementing its strategy, the Portfolio invests in common stocks of companies with a history of above-average growth or companies that the Sub-Adviser expects to enter periods of above-average growth. In managing the Portfolio, the Sub-Adviser employs a fundamental bottom-up approach (focusing on the characteristics of individual securities) that seeks to identify companies with positive price momentum and attractive fundamentals. The Sub-Adviser seeks structural disconnects which allow businesses to exceed market expectations. These disconnects may result from demographic/cultural changes, technological advancements and/or regulatory changes. The Sub-Adviser may sell a security for several reasons. A security may be sold due to a change in the original investment thesis, if market expectations exceed the companys potential to deliver, and/or due to balance sheet deterioration. Investments may also be sold if the Sub-Adviser identifies a stock that it believes offers a better investment opportunity. Show less