Investment objective & strategy
As of Dec. 18, 2025 · prospectusObjective. The Villere Equity Fund (the Equity Fund or the Fund) seeks to achieve long-term growth.
Strategy. The Equity Fund strives to be fully invested at all times. Under normal market conditions, the Equity Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Equity Fund will provide shareholders with at least 60 days notice before changing this 80% policy. The Adviser utilizes a bottom-up approach to select domestic equity securities that it believes will offer growth regardless of the economic cycle, interest rates or political climate. The Equity Fund may invest in companies of any capitalization size. The Equity Fund primarily invests in common stocks of approximately 20 to 30 companies, but may also invest in preferred stocks, rights and warrants, and may occasionally invest in … The Equity Fund strives to be fully invested at all times. Under normal market conditions, the Equity Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Equity Fund will provide shareholders with at least 60 days notice before changing this 80% policy. The Adviser utilizes a bottom-up approach to select domestic equity securities that it believes will offer growth regardless of the economic cycle, interest rates or political climate. The Equity Fund may invest in companies of any capitalization size. The Equity Fund primarily invests in common stocks of approximately 20 to 30 companies, but may also invest in preferred stocks, rights and warrants, and may occasionally invest in initial public offerings of companies. The Equity Fund may invest up to 10% of its assets in foreign securities through American Depositary Receipts (ADRs). Additionally, the Equity Fund may participate in securities lending arrangements with brokers, dealers and financial institutions (but not individuals) in order to increase the return on its portfolio. The Equity Fund's investments in any one sector may exceed 25% of its net assets. A stock will be considered for sale by the Equity Fund when its price-to-earnings ratio substantially exceeds its growth rate or when other factors indicate to the Adviser that its competitive advantage is lost. Sales may also be made when consecutive quarterly disappointments occur, such as the company not meeting the Advisers goals in revenue, earnings or cash flow.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Mount Vernon Liquid Assets Portfolio, LLC | — | $6.81M | 19.30% |
| Invesco Government & Agency Portfolio, Institutional Class | — | $4.78M | 13.55% |
| AMAZON.COM INC | — | $1.65M | 4.69% |
| VISA INC-CLASS A | — | $1.51M | 4.29% |
| STRYKER CORP | — | $1.42M | 4.03% |
| ON HOLDING AG | — | $1.40M | 3.98% |
| LINEAGE INC | — | $1.31M | 3.71% |
| PALOMAR HOLDINGS | — | $1.23M | 3.47% |
| CAESARS ENTERTAINMENT INC | — | $1.17M | 3.31% |
| ON SEMICONDUCTOR CORP | — | $1.17M | 3.31% |
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. |
|---|---|---|
| Villere Balanced Fund · VILLX | 71% | 0.80% |
| GuidePath Growth and Income Fund · GPIGX | 23% | 0.85% |
| Pacer Lunt Large Cap Alternator ETF · ALTL | 19% | 0.60% |
Footnotes
- Expense ratio as of December 18, 2025, 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. 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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