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On September 13, 2024, the Fund’s Class C shares performed a reverse stock split. The Fund’s Class C reverse stock split reduced the number of outstanding shares and proportionately increased the net asset value (“NAV”) per share with respect to only Class C shares of the Fund. However, the reverse stock split did not impact a shareholder’s total dollar value of an investment in Class C shares of the Fund.
Objective
Seeks long-term growth of capital.
Overview
A mid-cap fund that seeks to invest in “blue-chip” companies that are industry leaders
Portfolio Management
14
YRS
MANAGING THIS FUND
20
YRS
AT WELLINGTON MANAGEMENT
31
YRS
EXPERIENCE IN THIS INDUSTRY
14
YRS
MANAGING THIS FUND
20
YRS
AT WELLINGTON MANAGEMENT
25
YRS
EXPERIENCE IN THIS INDUSTRY
0
YRS
MANAGING THIS FUND
18
YRS
AT WELLINGTON MANAGEMENT
20
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: 12/31/1997
Share Class Inception: 7/31/98.
Class C-share performance prior to its inception date reflects Class B-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 12/31/97.
Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.
Characteristics
FUND STATS
| # of Holdings | 87 |
|---|---|
| % in Equities | 100 |
| % in Foreign Equities | 3 |
| Beta (3 year) | 0.94 |
| R Squared (3 year) | 0.90 |
| Standard Deviation | 20.18% |
| Turnover | 35% |
| Active Share | 91% |
Holdings Characteristics
| FUND | S&P MidCap 400 Index | |
|---|---|---|
| Price/Earnings | 26.5x | 14.9x |
| Price/Book | 6.5x | 2.7x |
| EPS Growth Rate | 16.9% | 11.9% |
| Asset Weighted Market Cap (billions) | $22.3 | $10.1 |
| Return on Equity | 24.5% | 20.3% |
| Median Market Cap (billions) | $16.4 | $7.0 |
Top Ten Holdings (%)
| Targa Resources Corp. | 2.89 |
| Datadog, Inc. | 2.58 |
| Monolithic Power Systems, Inc. | 2.46 |
| CyberArk Software Ltd. | 2.26 |
| Hamilton Lane, Inc. | 2.20 |
| NVR, Inc. | 2.16 |
| Fair Isaac Corp. | 2.15 |
| Tradeweb Markets, Inc. | 2.14 |
| Morningstar, Inc. | 2.11 |
| DraftKings, Inc. | 1.99 |
| Total Portfolio % | 22.94 |
Market Cap Distribution (%)
| Less than $2 billion | 0 | |
| $2 billion - $5 billion | 2 | |
| $5 billion - $10 billion | 18 | |
| Greater than $10 billion | 80 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
-4.61 |
|
Down Capture (5 Year)
|
94.78 |
|
Information Ratio (5 Year)
|
-0.89 |
|
Sharpe Ratio (5 Year)
|
0.27 |
|
Up Capture (5 Year)
|
81.57 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 9/30/24 | 10/31/24 | 10/31/24 | -15 0 15 | ||||
| Information Technology | 24 | 24 | 9 | ||||
| Health Care | 17 | 14 | 10 | ||||
| Communication Services | 3 | 3 | 1 | ||||
| Consumer Discretionary | 15 | 15 | 14 | ||||
| Utilities | 3 | 4 | 3 | ||||
| Energy | 4 | 4 | 5 | ||||
| Consumer Staples | 2 | 2 | 4 | ||||
| Financials | 12 | 14 | 17 | ||||
| Industrials | 17 | 18 | 23 | ||||
| Real Estate | 1 | 1 | 7 | ||||
| Materials | 1 | 1 | 7 | ||||
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 (198 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2024 - PDF (163 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the fund.
09/30/2024 - PDF (279 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
09/30/2024 - PDF (171 KB)
Attribution analysis is a method for evaluating the performance of a portfolio compared to the benchmark.
09/30/2024 - 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 (657 KB)
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. • 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. • Financially material environmental, social and/or governance (ESG) characteristics are one of several factors that may be considered and as a result, the investment process may not work as intended.
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