Investment objective & strategy
As of April 28, 2025 · prospectusObjective. The Fund seeks capital appreciation.
Strategy. AllianceBernstein L.P., the Fund's subadviser (the "Subadviser"), seeks to achieve the Fund's objective by investing, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of investment) in common stocks, or other investments that the Subadviser believes have similar economic characteristics, of companies with large market capitalizations. The Subadviser defines large capitalization companies as companies with market capitalizations similar to companies in the Standard & Poor's 500 Index (the "Index") at the time of purchase. Although expected to change frequently, the market capitalization range of the Index was approximately $5.3 billion to $3.3 trillion as of March 31, 2025. The Fund invests in companies that are determined by the Subadviser … AllianceBernstein L.P., the Fund's subadviser (the "Subadviser"), seeks to achieve the Fund's objective by investing, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of investment) in common stocks, or other investments that the Subadviser believes have similar economic characteristics, of companies with large market capitalizations. The Subadviser defines large capitalization companies as companies with market capitalizations similar to companies in the Standard & Poor's 500 Index (the "Index") at the time of purchase. Although expected to change frequently, the market capitalization range of the Index was approximately $5.3 billion to $3.3 trillion as of March 31, 2025. The Fund invests in companies that are determined by the Subadviser to offer favorable long-term sustainable profitability, price stability, and attractive valuations. The Subadviser selects investments based on an integrated approach that combines both fundamental and quantitative research to identify attractive investment opportunities. Factors that the Subadviser considers include: a company's record and projections of profitability, accuracy and availability of information with respect to the company, success and experience of management, competitive advantage, low stock price volatility, and liquidity of the company's securities. The Subadviser compares these results to the characteristics of the general stock markets to determine the relative attractiveness of each company at a given time. The Subadviser weighs economic, political and market factors in making investment decisions. The Subadviser seeks to manage the Fund's portfolio so that it is subject to less share price volatility than many other U.S. mutual funds, although there can be no guarantee that the Subadviser will be successful in this regard. The Subadviser expects that normally the Fund's portfolio will primarily invest in securities issued by U.S. companies, although it may, at times, also invest in foreign securities. The Fund may, at times, invest in shares of exchange-traded funds ("ETFs") in lieu of making direct investments in securities or to seek to obtain desired exposures. The Fund may enter into derivatives transactions, such as options, futures contracts, forwards and swaps. The Fund may use options strategies involving the purchase and/or writing of combinations of call and/or put options, including on individual securities and stock indices, futures contracts (including futures contracts on individual securities and stock indices) or shares of ETFs. Derivatives transactions may be used, for example, in an effort to earn extra income, to attempt to adjust exposure to individual securities or markets, or to seek to protect all, or a portion, of the Fund's portfolio from a decline in value, sometimes within certain ranges. The Subadviser typically may sell investments when it believes that they no longer offer attractive future returns compared with other investment opportunities or that they present undesirable risks or in an attempt to limit losses on investments that may decline or have declined in value.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MICROSOFT CORP | — | $10.68M | 6.02% |
| ALPHABET INC CL C | — | $10.65M | 5.99% |
| APPLE INC | — | $9.73M | 5.48% |
| NVIDIA CORP | — | $8.79M | 4.95% |
| BROADCOM INC | — | $6.29M | 3.54% |
| AMAZON.COM INC | — | $5.69M | 3.20% |
| MERCK & CO | — | $4.05M | 2.28% |
| GILEAD SCIENCES INC | — | $3.89M | 2.19% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $3.84M | 2.16% |
| VISA INC-CLASS A | — | $3.79M | 2.14% |
Portfolio moves
Dec 31, 2025 → Mar 31, 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. |
|---|---|---|
| AB US Low Volatility Equity ETF · LOWV | 94% | 0.39% |
| AB US Large Cap Strategic Equities ETF · LRGC | 52% | 0.39% |
| First Trust Enhanced Equity Income Fund | 48% | — |
Advisers
| Firm | Role |
|---|---|
| AllianceBernstein L.P. | Sub-adviser |
| Park Avenue Institutional Advisers LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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