Investment objective & strategy
As of March 27, 2026 · prospectusObjective. The Thompson LargeCap Fund (the LargeCap Fund) seeks a high level of long-term capital appreciation.
Strategy. The LargeCap Fund normally invests at least 80% of its net assets plus any borrowing for investment purposes in a diversified portfolio of equity securities of large-capitalization companies that at the time of purchase fall within the capitalization ranges of companies in the S&P 500 Index, the Funds benchmark. Although market capitalizations are constantly changing, as of December 31, 2025, the smallest company in the S&P 500 Index had a market capitalization of $5.5 billion. The Funds equity investments included within this 80% may include common stocks, American Depositary Receipts (ADRs), and real estate investment trusts (REITs). Although current income is not its primary objective, the LargeCap Fund anticipates that capital growth will be accompanied by growth through dividend income. … The LargeCap Fund normally invests at least 80% of its net assets plus any borrowing for investment purposes in a diversified portfolio of equity securities of large-capitalization companies that at the time of purchase fall within the capitalization ranges of companies in the S&P 500 Index, the Funds benchmark. Although market capitalizations are constantly changing, as of December 31, 2025, the smallest company in the S&P 500 Index had a market capitalization of $5.5 billion. The Funds equity investments included within this 80% may include common stocks, American Depositary Receipts (ADRs), and real estate investment trusts (REITs). Although current income is not its primary objective, the LargeCap Fund anticipates that capital growth will be accompanied by growth through dividend income. We invest in equity securities that possess most of the following characteristics: ? Leading market positions ? High barriers to entry and other competitive or technological advantages ? High returns on equity and assets ? Good growth prospects ? Strong management ? Relatively low debt burdens We also generally seek to identify investment opportunities in equity securities of companies that we believe have above-average potential for earnings and dividend growth. To achieve a better risk-adjusted return on its equity investments, the LargeCap Fund invests in a diversified portfolio of companies, including companies from a blend of industries and style classes. We believe that holding a diverse group of stocks will provide competitive returns under different market environments relative to more narrow investment styles. Our flexible approach to equity investing enables us to adapt to changing market trends and conditions and to invest wherever we believe opportunity exists.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ALPHABET INC CL A | — | $14.04M | 6.75% |
| MICROSOFT CORP | — | $6.99M | 3.36% |
| WARNER BROS DISCOVERY INC | — | $6.09M | 2.93% |
| APPLE INC | — | $5.91M | 2.84% |
| CITIGROUP INC | — | $4.83M | 2.32% |
| PFIZER INC | — | $4.42M | 2.12% |
| PEPSICO INC | — | $4.27M | 2.05% |
| UNITEDHEALTH GRP | — | $4.07M | 1.96% |
| META PLATFORMS INC CL A | — | $3.87M | 1.86% |
| QUALCOMM INC | — | $3.83M | 1.84% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Thompson MidCap Fund · THPMX | 44% | 1.15% |
| Touchstone Funds Group Trust-Touchstone Dividend Equity Fund · TQCCX, TQCAX, TQCYX, TQCIX, TQCRX | 34% | 0.64% |
| WisdomTree U.S. LargeCap Fund · EPS | 33% | 0.08% |
Advisers
| Firm | Role |
|---|---|
| Thompson Investment Management, Inc. | Adviser |
Footnotes
- Expense ratio as of March 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of February 28, 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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