Investment objective & strategy
As of April 14, 2022 · prospectusObjective. The investment objective of the Portfolio is to seek 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 and equity-related securities of large-capitalization companies under normal market conditions. Large capitalization companies are defined as those companies with market capitalizations (measured at the time of purchase) within the market capitalization of the Russell 1000 Index. The Russell 1000 Index had a median market capitalization of approximately $14.2 billion as of February 28, 2022, and the largest company by market capitalization was approximately $2.70 trillion as of that date. The size of the companies in the Russell 1000 Index will change with market conditions. In deciding which equity securities to buy for the … 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 and equity-related securities of large-capitalization companies under normal market conditions. Large capitalization companies are defined as those companies with market capitalizations (measured at the time of purchase) within the market capitalization of the Russell 1000 Index. The Russell 1000 Index had a median market capitalization of approximately $14.2 billion as of February 28, 2022, and the largest company by market capitalization was approximately $2.70 trillion as of that date. The size of the companies in the Russell 1000 Index will change with market conditions. In deciding which equity securities to buy for the Portfolio, the Portfolios subadviser, Jennison Associates LLC, uses what is known as a growth investment style. This means that the subadviser focuses on common stocks that it believes could experience superior sales or earnings growth, or high returns on equity and assets. The companies in which the subadviser invests generally tend to have a unique market niche, a strong new product profile or superior management. Given the subadvisers selection criteria and proclivity for fast growing companies, the Portfolio may at times have a more aggressive risk profile than peer funds, depending on market conditions.
Top holdings
As of March 31, 2022 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TESLA INC | — | $67.97M | 8.24% |
| AMAZON.COM INC | — | $54.43M | 6.60% |
| APPLE INC | — | $53.14M | 6.44% |
| MICROSOFT CORP | — | $45.19M | 5.48% |
| NVIDIA CORP | — | $36.46M | 4.42% |
| ALPHABET INC CL C | — | $27.68M | 3.36% |
| ALPHABET INC CL A | — | $27.59M | 3.35% |
| VISA INC-CLASS A | — | $23.49M | 2.85% |
| SALESFORCE INC | — | $22.11M | 2.68% |
| ADOBE INC | — | $21.80M | 2.64% |
Portfolio moves
Dec 31, 2021 → Mar 31, 2022How 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. |
|---|---|---|
| PGIM Jennison 20/20 Focus Fund | 58% | — |
| AST MFS Growth Portfolio | 46% | 0.96% |
| Lord Abbett Durable Growth Fund | 45% | 0.69% |
Footnotes
- Net assets and holdings count as of March 31, 2022, from the fund's N-PORT filing.
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