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Objective
Seeks growth of capital.
Overview
A flexible, opportunistic stock fund that combines the skills and expertise of multiple active managers to invest across sectors, market caps, and investment styles.
Portfolio Management
11
YRS
MANAGING THIS FUND
22
YRS
AT WELLINGTON MANAGEMENT
31
YRS
EXPERIENCE IN THIS INDUSTRY
5
YRS
MANAGING THIS FUND
15
YRS
AT WELLINGTON MANAGEMENT
23
YRS
EXPERIENCE IN THIS INDUSTRY
0
YRS
MANAGING THIS FUND
2
YRS
AT WELLINGTON MANAGEMENT
18
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Wellington.
Performance
PERFORMANCE %
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SI = Since Inception.
Fund Inception: 07/22/1996
Share Class Inception: 12/22/06.
Class R5-share performance prior to its inception date reflects Class Y-share performance and operating expenses. SI performance is calculated from 7/22/96.
Characteristics
FUND STATS
| # of Holdings | 141 |
|---|---|
| % in Equities | 98 |
| % in Foreign Equities | 2 |
| Beta (3 year) | 0.95 |
| R Squared (3 year) | 0.98 |
| Standard Deviation | 17.14% |
| Turnover | 62% |
| Active Share | 56% |
| Dividend Frequency | Annually |
Holdings Characteristics
| FUND | Russell 3000 Index | |
|---|---|---|
| As of Date | 9/30/2024 | --- |
| Price/Earnings | 18.8x | 20.4x |
| Price/Book | 4.9x | 4.9x |
| EPS Growth Rate | 13.7% | 14.3% |
| Asset Weighted Market Cap (billions) | $878.8 | $861.9 |
| Return on Equity | 35.2% | 33.2% |
| Median Market Cap (billions) | $38.5 | $2.3 |
Top Ten Holdings (%)
| Apple, Inc. | 7.70 |
| NVIDIA Corp. | 5.40 |
| Microsoft Corp. | 5.18 |
| Amazon.com, Inc. | 3.42 |
| Alphabet, Inc. | 3.35 |
| UnitedHealth Group, Inc. | 2.37 |
| Honeywell International, Inc. | 1.76 |
| Meta Platforms, Inc. | 1.67 |
| American Express Co. | 1.55 |
| American Tower Corp. | 1.50 |
| Total Portfolio % | 33.90 |
Market Cap Distribution (%)
| Less than $2 billion | 0 | |
| $2 billion - $5 billion | 4 | |
| $5 billion - $10 billion | 8 | |
| Greater than $10 billion | 87 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
-2.89 |
|
Down Capture (5 Year)
|
101.82 |
|
Information Ratio (5 Year)
|
-1.17 |
|
Sharpe Ratio (5 Year)
|
0.56 |
|
Up Capture (5 Year)
|
91.64 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 6/30/24 | 9/30/24 | 9/30/24 | -3 0 3 | ||||
| Consumer Discretionary | 11 | 12 | 10 | ||||
| Materials | 5 | 5 | 3 | ||||
| Financials | 15 | 15 | 14 | ||||
| Communication Services | 9 | 9 | 8 | ||||
| Real Estate | 3 | 4 | 3 | ||||
| Industrials | 9 | 10 | 10 | ||||
| Utilities | 1 | 2 | 2 | ||||
| Information Technology | 28 | 28 | 29 | ||||
| Consumer Staples | 6 | 5 | 6 | ||||
| Energy | 3 | 2 | 4 | ||||
| Health Care | 10 | 9 | 12 | ||||
Based on Global Industry Classification Standard (GICS), which was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. (S&P). Excludes cash. May not total to 100% due to rounding and/or pooled vehicle allocations.
Past distributions are not indicative of future distributions.
Insights
Fund Literature
09/30/2024 - PDF (184 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2024 - PDF (160 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
06/30/2024 - PDF (311 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund
06/30/2024 - PDF (172 KB)
Attribution analysis is a method for evaluating the performance of a portfolio compared to the benchmark.
06/30/2024 - PDF (172 KB)
Attribution analysis is a method for evaluating the performance of a portfolio compared to the benchmark.
PDF (156 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
09/30/2024 - PDF (1 MB)
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. The Fund's strategy for allocating assets among portfolio management teams may not work as intended. • Mid-cap securities can have greater risks and volatility than large-cap securities. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.
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