Strategy. The MidCap Fund normally invests at least 80% of its net assets plus any borrowing for investment purposes in a diversified portfolio of equity securities of medium-sized companies that at the time of purchase fall within the 12-month average of the capitalization ranges of stocks in the Russell Midcap Index, the Funds benchmark. Although market capitalizations are constantly changing, as of December 31, 2025, the Russell Midcap Index included companies with market capitalizations between $122 million and $84 billion. The Funds equity investments included within this 80% may include common stocks, American Depositary Receipts (ADRs), and real estate investment trusts (REITs). We invest in equity securities that possess most of the following characteristics: ? Strong market positions ? High barriers … Show more… The MidCap Fund normally invests at least 80% of its net assets plus any borrowing for investment purposes in a diversified portfolio of equity securities of medium-sized companies that at the time of purchase fall within the 12-month average of the capitalization ranges of stocks in the Russell Midcap Index, the Funds benchmark. Although market capitalizations are constantly changing, as of December 31, 2025, the Russell Midcap Index included companies with market capitalizations between $122 million and $84 billion. The Funds equity investments included within this 80% may include common stocks, American Depositary Receipts (ADRs), and real estate investment trusts (REITs). We invest in equity securities that possess most of the following characteristics: ? Strong 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 MidCap 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. Show less