Investment objective & strategy
As of May 29, 2025 · prospectusObjective. The Fund seeks to provide long-term capital appreciation.
Strategy. The Fund invests in U.S. and foreign equity securities. The Fund seeks to generate above average compounded returns by purchasing securities in companies and industries where capital spending is declining, and seeks to avoid companies, assets, and business models that can be easily replicated. Companies, assets, and business models that cannot be easily replicated may include those with differentiated offerings, a low-cost advantage, or that maintain an advantage over competitors in their same industry. The Fund typically invests across a range of sectors, a mix of developed and emerging markets stocks, and typically holds companies across the market capitalization spectrum. The Fund will concentrate its investments (i.e. hold 25% or more of its net assets) in securities of issuers whose … The Fund invests in U.S. and foreign equity securities. The Fund seeks to generate above average compounded returns by purchasing securities in companies and industries where capital spending is declining, and seeks to avoid companies, assets, and business models that can be easily replicated. Companies, assets, and business models that cannot be easily replicated may include those with differentiated offerings, a low-cost advantage, or that maintain an advantage over competitors in their same industry. The Fund typically invests across a range of sectors, a mix of developed and emerging markets stocks, and typically holds companies across the market capitalization spectrum. The Fund will concentrate its investments (i.e. hold 25% or more of its net assets) in securities of issuers whose principal business activities are in the precious metals and mining industry.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BARRICK MINING CORP | — | $212.63M | 6.00% |
| Vanguard Market Liquidity Fund | — | $205.73M | 5.80% |
| ANGLO AMER PLC | — | $150.01M | 4.23% |
| SAMSUNG ELECTRON | — | $124.87M | 3.52% |
| TECK RESOURCES-B | — | $106.77M | 3.01% |
| MOLINA HEALTHCARE INC | — | $101.10M | 2.85% |
| SK TELECOM | — | $99.88M | 2.82% |
| GLENCORE PLC | — | $92.44M | 2.61% |
| RIO TINTO-ADR | — | $82.66M | 2.33% |
| GSK PLC | — | $81.50M | 2.30% |
Portfolio moves
Oct 31, 2025 → Jan 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. |
|---|---|---|
| International Value Portfolio | 17% | 0.71% |
| VANGUARD INTERNATIONAL CORE STOCK FUND · VZICX, VWICX | 16% | 0.38% |
| The Hartford International Value Fund · HILAX, HILCX, HILIX, HILRX, HILSX, HILTX, HILYX, HILDX, HILUX | 16% | 0.79% |
Advisers
| Firm | Role |
|---|---|
| Wellington Management Company LLP | Adviser |
Footnotes
- Expense ratio as of May 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 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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