Strategy. The Portfolio invests substantially all of its assets in the common stock of companies with smaller market capitalizationsgenerally within the range of companies comprising the Russell 2000 Value Index (as of December 31, 2024, this range was between approximately $8.22 million and $13.16 billion) at the time of purchase. The market capitalization range and composition of the companies in the Russell 2000 Value Index are subject to change. The Portfolio invests, generally, in companies with relatively low price to book value ratios, relatively low price to earnings ratios and relatively high dividend yields (dividend yields for small companies are generally less than those of large companies). The Portfolio uses a multi-manager strategy where multiple subadvisers employ different strategies with respect … Show more… The Portfolio invests substantially all of its assets in the common stock of companies with smaller market capitalizationsgenerally within the range of companies comprising the Russell 2000 Value Index (as of December 31, 2024, this range was between approximately $8.22 million and $13.16 billion) at the time of purchase. The market capitalization range and composition of the companies in the Russell 2000 Value Index are subject to change. The Portfolio invests, generally, in companies with relatively low price to book value ratios, relatively low price to earnings ratios and relatively high dividend yields (dividend yields for small companies are generally less than those of large companies). The Portfolio uses a multi-manager strategy where multiple subadvisers employ different strategies with respect to separate portions of the Portfolio in order achieve the Portfolios investment objective. Wilshire typically allocates the Portfolios assets among the Portfolios subadvisers in accordance with its outlook for the economy and the financial markets. Each of Diamond Hill Capital Management, Inc. (Diamond Hill), Los Angeles Capital Management LLC (Los Angeles Capital), and Hotchkis & Wiley Capital Management, LLC (Hotchkis & Wiley) manage a portion of the Portfolio. In managing its portion of the Portfolio, Diamond Hill focuses on estimating a companys value independent of its current stock price. To estimate a companys value, Diamond Hill concentrates on the fundamental economic drivers of the business. The primary focus is on a bottom-up analysis, which takes into consideration earnings, revenue growth, operating margins and other economic factors. Los Angeles Capital employs a quantitative investment process for security selection and risk management. Los Angeles Capital utilizes its proprietary Dynamic Alpha Stock Selection Model to build equity portfolios that adapt to market conditions. The model considers a range of valuation, earnings and management characteristics to identify current drivers of return. In managing its portion of the Portfolio, Hotchkis & Wiley seeks to invest in stocks whose future prospects are misunderstood or not fully recognized by the market. Hotchkis & Wiley employs a fundamental value investing approach which seeks to exploit market inefficiencies created by irrational investor behavior. To identify these investment opportunities, Hotchkis & Wiley employs a disciplined, bottom-up investment process based on a proprietary model that is augmented with internally-generated fundamental research. Hotchkis & Wiley seeks broad diversified exposure to these investment opportunities by holding approximately 300-400 portfolio securities. With the exception of diversification guidelines, Hotchkis & Wiley does not employ pre-determined rules for sales; rather, Hotchkis & Wiley evaluates each sell candidate based on the candidates specific risk and return characteristics which include: 1) relative valuation; 2) fundamental operating trends; 3) deterioration of fundamentals; and 4) diversification guidelines. The Portfolio may appeal to you if: you are a long-term investor; you seek growth of capital; you believe that the market will favor a particular investment style, such as small-cap value stocks, over other investment styles in the long term and you want a more focused exposure to that investment style; or you own other funds or stocks which provide exposure to some but not all investment styles and would like a more complete exposure to the equity market. Show less