Investment objective & strategy
As of Feb. 25, 2026 · prospectusObjective. The fund seeks to provide long-term capital growth.
Strategy. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund takes a core approach to stock selection, which does not emphasize either a growth or value style of investing. The fund may purchase the stocks of companies of any size, but typically focuses on large U.S. companies. The portfolio is typically constructed in a bottom up manner, an approach that focuses more on evaluations … The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund takes a core approach to stock selection, which does not emphasize either a growth or value style of investing. The fund may purchase the stocks of companies of any size, but typically focuses on large U.S. companies. The portfolio is typically constructed in a bottom up manner, an approach that focuses more on evaluations of individual stocks than on analysis of overall economic trends and market cycles. In selecting stocks, the adviser evaluates a number of characteristics about the companies, such as management, risk-adjusted return potential, market position, and/or stock valuation. Sector allocations are largely the result of the funds focus on stock selection. At times, the fund may have a significant portion of its assets invested in the same economic sector, such as the information technology sector. The fund is nondiversified, which means it may invest a greater percentage of its assets in a particular issuer than is permissible for a diversified fund.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MICROSOFT CORP | — | $443.20M | 7.12% |
| AMAZON.COM INC | — | $398.24M | 6.40% |
| APPLE INC | — | $370.43M | 5.95% |
| NVIDIA CORP | — | $332.27M | 5.34% |
| ALPHABET INC CL A | — | $252.14M | 4.05% |
| META PLATFORMS INC CL A | — | $244.59M | 3.93% |
| CENTERPOINT ENERGY INC | — | $213.63M | 3.43% |
| NISOURCE INC | — | $198.47M | 3.19% |
| BROADCOM INC | — | $191.79M | 3.08% |
| KEURIG DR PEPPER INC | — | $150.59M | 2.42% |
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. |
|---|---|---|
| JNL/T. Rowe Price Capital Appreciation Equity Fund | 98% | 0.70% |
| AZL T Rowe Price Capital Appreciation Fund | 59% | 1.00% |
| Penn Series Flexibly Managed Fund | 58% | 0.87% |
Advisers
| Firm | Role |
|---|---|
| T. Rowe Price Associates, Inc. | Adviser |
| T. Rowe Price Investment Management, Inc. | Sub-adviser |
Footnotes
- Expense ratio as of February 25, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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