The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact the fund's short term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available at vlfunds.com or by calling 1-800-243-2729.
Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities. Current and future portfolio holdings are subject to risk.
The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.
Investment Objective
The Fund’s investment objective is to achieve a high total investment return
(current income and capital appreciation) consistent with reasonable risk. For this purpose, risk takes into account volatility and other factors as determined by the Adviser.
Average Annual Returns as of 01/31/12
YTD
1 Yr
3 Yr
5 Yr
10 Yr
4.66%
10.24%
16.79%
3.69%
5.70%
Top Ten Holdings as of 12/31/11
Company Name
Market Value
Weight (%)
Sector
ANSYS Inc.
$859,200
1.35
Information Technology
Pharmasset Inc.
$820,480
1.29
Health Care
Alexion Pharmaceuticals Inc.
$786,500
1.23
Health Care
Kansas City Southern
$775,314
1.22
Industrials
AutoZone Inc.
$714,934
1.12
Consumer Discretionary
Stericycle Inc.
$670,112
1.05
Industrials
W.W. Grainger Inc.
$599,008
0.94
Industrials
BlackRock Inc.
$588,192
0.92
Financials
Church & Dwight Co. Inc.
$585,728
0.92
Consumer Staples
TJX Companies Inc.
$580,950
0.91
Consumer Discretionary
Sector Distribution as of 12/31/11
Industrials
18.52%
Consumer Discretionary
14.82%
Health Care
11.52%
Government
11.07%
Information Technology
10.99%
Consumer Staples
7.71%
Materials
6.16%
Consumer Staples
5.69%
Telecommunication Services
5.40%
Energy
3.45%
Cash & Other
3.02%
Utilities
1.65%
Portfolio Composition as of 12/31/11
Stocks
77.96%
Bonds
19.02%
Cash
3.02%
From generation to generation, our Funds have met investors’ needs.60 years of history
My Account
Login to view details of your account and up-to-date fund information.
Industrials