Investment objective & strategy
As of Sept. 25, 2025 · prospectusObjective. The investment objective of the Fund is long-term capital appreciation .
Strategy. The Fund seeks investments that will increase in value. To achieve the Funds investment objective, the subadviser purchases stocks of large companies it believes will experience earnings growth at a rate faster than that of the Russell 1000 Index. The subadviser normally invests at least 80% of the Funds investable assets in equity and equity-related securities of companies with market capitalizations comparable to those found in the Russell 1000 Index (measured at the time of purchase). The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. For the purposes of selecting securities for the Fund, comparable market capitalization is defined as those within the range of market capitalizations of companies included in the Russell … The Fund seeks investments that will increase in value. To achieve the Funds investment objective, the subadviser purchases stocks of large companies it believes will experience earnings growth at a rate faster than that of the Russell 1000 Index. The subadviser normally invests at least 80% of the Funds investable assets in equity and equity-related securities of companies with market capitalizations comparable to those found in the Russell 1000 Index (measured at the time of purchase). The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. For the purposes of selecting securities for the Fund, comparable market capitalization is defined as those within the range of market capitalizations of companies included in the Russell 1000 Index. The market capitalization within the range will vary, but as of July 31, 2025, the weighted average market capitalization of companies included in the Russell 1000 Index was approximately $1.3 billion, and the market capitalization of the largest company included in the Russell 1000 Index was approximately $4.3 billion. The Fund may actively and frequently trade its portfolio securities. The subadviser uses a bottom-up, fundamental research-intensive approach to identify companies with attractive valuations and sustained above-average growth in revenues, earnings, and cash flows. The subadviser supplements this fundamental analysis with an analysis of quantitative factors, such as stock price momentum and stock valuation. Incorporating information from both the subadvisers fundamental and quantitative analyses, the subadviser constructs a diversified portfolio with sector and risk factor exposures managed relative to the Russell 1000 Growth Index, using a technique known generally as portfolio optimization. At times, the Fund may have a significant portion of its assets invested in the same economic sector.
Top holdings
As of Jan. 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $44.36M | 10.47% |
| ALPHABET INC CL A | — | $33.66M | 7.94% |
| AMAZON.COM INC | — | $25.28M | 5.96% |
| APPLE INC | — | $25.06M | 5.91% |
| MICROSOFT CORP | — | $23.86M | 5.63% |
| BROADCOM INC | — | $23.59M | 5.57% |
| META PLATFORMS INC CL A | — | $19.24M | 4.54% |
| LILLY ELI and CO | — | $15.86M | 3.74% |
| TESLA INC | — | $13.50M | 3.19% |
| MASTERCARD INC CL A | — | $12.68M | 2.99% |
Portfolio moves
Oct 31, 2025 → Jan 30, 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. |
|---|---|---|
| Schwab Large-Cap Growth Fund · SWLSX | 73% | 0.99% |
| PGIM Jennison Focused Growth ETF · PJFG | 73% | 0.75% |
| Harbor Capital Appreciation Fund · HACAX, HRCAX, HCAIX, HNACX | 72% | 0.59% |
Advisers
| Firm | Role |
|---|---|
| PGIM INVESTMENTS LLC | Adviser |
| Jennison Associates LLC | Sub-adviser |
Footnotes
- Expense ratio as of September 25, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 30, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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