VAPPX
Capital Appreciation Fund
VALIC Co I
Expense ratio1
0.73%
Net assets2
$367.11M
Holdings2
65
Category
US Equity
2025 return3
14.18%

Investment objective & strategy

As of Sept. 26, 2025 · prospectus

Objective. The Fund seeks long-term capital appreciation by investing primarily in a broadly diversified portfolio of stocks and other equity securities of U.S. companies.

Strategy. The Fund invests in equity securities of large-sized U.S. companies similar in size, at the time of purchase, to those within the Russell 1000 Growth Index (the Index). As of July 31, 2025, the median stock by market capitalization in the Index was approximately $ 24.31 billion and the largest stock by market capitalization was $ 4.34 trillion. The size of the companies in the Index changes with market conditions and the composition of the Index. The Fund invests substantially in growth stocks, which are stocks of companies with long-term earnings growth potential. The Funds portfolio managers seek to invest in growth companies that are undervalued relative to their fundamentals and exhibit improving investor interest, such as positive price momentum, … The Fund invests in equity securities of large-sized U.S. companies similar in size, at the time of purchase, to those within the Russell 1000 Growth Index (the Index). As of July 31, 2025, the median stock by market capitalization in the Index was approximately $ 24.31 billion and the largest stock by market capitalization was $ 4.34 trillion. The size of the companies in the Index changes with market conditions and the composition of the Index. The Fund invests substantially in growth stocks, which are stocks of companies with long-term earnings growth potential. The Funds portfolio managers seek to invest in growth companies that are undervalued relative to their fundamentals and exhibit improving investor interest, such as positive price momentum, believing that such investments can outperform the equity market over a full market cycle, which can be measured from market peak to peak or from market trough to trough. The Fund invests substantially in securities of U.S. issuers. The Fund generally invests in common stocks. From time to time, the Fund may have significant investments in particular sectors, including the information technology sector. In pursuit of the Funds objective, the subadviser employs fundamental and quantitative analysis with risk management analysis in identifying investment opportunities and constructing the Funds portfolio. In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Funds total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities.

Top holdings

As of Feb. 28, 2026 · N-PORT
SecurityTickerValue% of fund
NVIDIA CORP $36.91M 10.05%
APPLE INC $26.62M 7.25%
MICROSOFT CORP $20.40M 5.56%
BROADCOM INC $19.29M 5.26%
ALPHABET INC CL C $18.29M 4.98%
META PLATFORMS INC CL A $17.30M 4.71%
AMAZON.COM INC $16.26M 4.43%
LILLY ELI and CO $13.51M 3.68%
TESLA INC $11.51M 3.14%
State Street Navigator Securities Lending Portfolio II GVMXX $7.74M 2.11%
View all holdings →

Allocation by sector

As of February 28, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Nov 30, 2025 → Feb 28, 2026
Opened
12
Exited
11
Increased
42
Decreased
11
Unchanged
0

How 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.

View portfolio moves →

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Advisers

As of May 31, 2025 · N-CEN
FirmRole
Columbia Management Investment Advisers, LLC Sub-adviser
The Variable Annuity Life Insurance Company Adviser

Footnotes

  1. Expense ratio as of September 26, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
  3. 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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