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Overview

Objective & Process

The Fund’s sole investment objective is long-term growth of capital.

Documents

Document Date
Fact Sheet 03/31/25
Commentary Q4 2024
Summary Prospectus 5/1/24
Prospectus 5/1/24
SAI 5/1/24
Q1 Holdings 3/31/24
Q3 Holdings 9/30/24

Daily Pricing as of 04/25/25

Class NAV % Change
Investor Class - VALLX $35.03 2.07%
Institutional Class - VLLIX $35.85 2.08%

Fund Details

Item Value
Regulatory Benchmark S&P 500
Secondary Benchmark Russell 1000 Growth TR
Morningstar Category Large Growth Funds

Performance

Average Annual Returns as of 03/31/25

Fund YTD 1 Yr 3 Yr 5 Yr 10 Yr
Investor Class - VALLX -8.19% 3.87% 8.12% 14.90% 11.62%
Institutional Class - VLLIX 1 -8.15% 4.13% 8.38% 15.18% 11.82%
S&P 500 -4.27% 8.25% 9.06% 18.59% 12.50%
Russell 1000 Growth TR -9.97% 7.76% 10.10% 20.09% 15.12%
Morningstar Large Growth Funds -8.49% 5.01% 7.76% 16.99% 12.61%
Morningstar Large Growth Funds Ranking - 595/1079 480/1027 749/949 553/745
Percentile Rank as of 03/31/25 - 60% 51% 81% 72%
VALLX Gross / Net Expense Ratio*: 1.16% / 1.15%, VLLIX Gross / Net Expense Ratio*: 1.45% / 0.90%.
Morningstar rates funds based on enhanced Morningstar risk-adjusted returns.
1Italics indicate Morningstar Extended Performance. Extended performance is an estimate based on the performance of the fund's oldest share class, adjusted for fees. The Inception Date of VLLIX is November 1, 2015.
Morningstar™ Ratings and Rankings based on Investor class shares.
VALLX VLLIX1 S&P 500 MLGF
YTD -8.19% -8.15% -4.27% -8.49%
1 Yr 3.87% 4.13% 8.25% 5.01%
3 Yr 8.12% 8.38% 9.06% 7.76%
5 Yr 14.90% 15.18% 18.59% 16.99%
10 Yr 11.62% 11.82% 12.50% 12.61%
VALLX Gross / Net Expense Ratio*: 1.16% / 1.15%, VLLIX Gross / Net Expense Ratio*: 1.45% / 0.90%.
Morningstar rates funds based on enhanced Morningstar risk-adjusted returns.
1 Indicates Morningstar Extended Performance. Extended performance is an estimate based on the performance of the fund's oldest share class, adjusted for fees. The Inception Date of VLLIX is November 1, 2015.
Morningstar™ Ratings and Rankings based on Investor class shares.
The S&P 500 Index is the most widely accepted barometer of the Large-Cap U.S. equities market. The index includes 500 leading companies and covers approximately 80% of available market capitalization. The returns for the index do not include any transaction costs, management fees or other costs. An investor may not invest directly in the index. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”).
The Russell 1000® Growth Index measures the performance of the large-cap growth segment of the US equity universe. The Index is constructed to provide a comprehensive and unbiased barometer for the large-cap growth segment.

Morningstar as of 03/31/25

Large Growth Funds Category
Period Stars Number of Funds
3 Year ★★ of 1027 Funds
5 Year of 949 Funds
10 Year ★★ of 745 Funds
Overall ★★ of 1027 Funds

10 Year Calendar Year Returns as of 03/31/25

Fund 2016 2017 2018 2019 2020 2021 2022 2023 2024 3/31
Investor Class - VALLX 0.24% 33.79% 1.30% 25.67% 45.98% 2.89% -38.99% 59.06% 26.49% -8.19%
S&P 500 11.96% 21.83% -4.38% 31.49% 18.40% 28.71% -18.11% 26.29% 25.02% -4.27%
Difference -11.72% 11.96% 5.68% -5.82% 27.58% -25.82% -20.88% 32.77% 1.47% -3.92%
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Period VALLX S&P 500 Diff.
2016 0.24 11.96 -11.72
2017 33.79 21.83 11.96
2018 1.30 -4.38 5.68
2019 25.67 31.49 -5.82
2020 45.98 18.40 27.58
2021 2.89 28.71 -25.82
2022 -38.99 -18.11 -20.88
2023 59.06 26.29 32.77
2024 26.49 25.02 1.47
3/31 -8.19 -4.27 -3.92

Portfolio Details as of 3/31/25

Top Ten Holdings

Company Name Weight (%)
NVIDIA Corp 8.77%
Meta Platforms Inc Class A 8.43%
Uber Technologies Inc 6.58%
Amazon.com Inc 4.85%
Netflix Inc 4.64%
Visa Inc Class A 4.14%
Strategy Class A 3.77%
Exelixis Inc 3.68%
Microsoft Corp 3.50%
Robinhood Markets Inc Class A 3.43%

Equity Sector Distribution as of 03/31/25

Sector Weight
Technology 41.16%
Communication Services 19.26%
Consumer Cyclical 16.32%
Healthcare 10.65%
Financial Services 10.61%
Energy 2.00%

Portfolio Statistics
3 Year Period, as of 03/31/25

Statistic Value
Alpha -1.09
Beta 1.36
Information Ratio -0.08
R-Squared 82.07
Sharpe Ratio 0.26
Standard Deviation 25.98

Portfolio Composition
as of 03/31/25

Composition Weight
Equities 99.65%
Cash & Other 0.35%

Valuation
as of 03/31/25

Item Value
Best 3 month period ended: 06/30/20
39.25%
Worst 3 month period ended: 06/30/22
-28.69%

Valuation (Quarterly)
as of 03/31/25

Item Value
Price/Earnings 28.35x
Price/Book 6.23x
Price/Sales 6.55x
Price/Cash Flow 22.90x
Turnover (as of 12/31/24) 23%

Fees & Distributions as of 12/31/23

VALLX Investor Class

Composition Weight
Redemption Fee N/A
Expense Ratio Before Waivers 1.16%
Expense Ratio After Waivers* 1.15%
Minimum Initial Investment $1,000
Minimum Subsequent Investment No Minimum

VLLIX Institutional Class

Composition Weight
Redemption Fee N/A
Expense Ratio Before Waivers 1.45%
Expense Ratio After Waivers** 0.90%
Minimum Initial Investment
(**See prospectus for exceptions)
$100,000
Minimum Subsequent Investment No Minimum

2024 Year-End Distributions (Finalized)

Ticker Ordinary Income Short Term Long Term Total Per Share Ex. Date Pay Date
Investor Class - VALLX - - $0.97195 $0.97195 12/18 12/18
Institutional Class - VLLIX - - $0.97195 $0.97195 12/18 12/18
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*

EULAV Asset Management (the "Adviser") has contractually agreed to waive through May 1, 2025 certain Fund-wide fees and further assume certain Fund-wide expenses to the extent necessary to limit such expenses (excluding brokerage commissions, interest, taxes, and certain non-routine Fund-wide expenses) to 0.90% of the average daily net assets of each class (the "Fund-level Expense Limitation"). In addition, the Adviser has "d to pay or reimburse certain class-specific fees and expenses so that the Institutional Class bears its class-specific fees and expenses at the same percentage of its average daily net assets as the Investor Class’s class-specific fees and expenses (excluding 12b-1 fees and certain non-routine class-specific expenses) (the "Class Expense Limitation," together with the Fund-level Expense Limitation, the "Expense Limitations"). Each Expense Limitation can be terminated with the agreement of the Fund’s Board. The Adviser may subsequently recover from a class any fees waived and expenses assumed within three years from the month in which the waiver or assumption occurred for such class, to the extent its expense ratio is less than the applicable Expense Limitation or, if lower, the expense limitation in effect when the waiver or assumption occurred. The Fund's performance would be lower in the absence of such waivers.

Morningstar™ Categories based on Investor class shares.

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.

You should carefully consider investment objectives, risks, charges and expenses of Value Line Funds before investing. This and other information can be found in the fund's prospectus and summary prospectus, which can be obtained free of charge from your investment representative, by calling 800.243.2729, or by clicking on the applicable fund at www.vlfunds.com. Please read it carefully before you invest or send money. Value Line Funds are distributed by EULAV Securities LLC. Past performance is no guarantee of future results.

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.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. VLEOX (3 Year / 5 stars / 535 funds; 5 Year / 4 stars / 520 funds; 10 Year / 5 stars / 395 funds; ) VLIFX (3 Year / 5 stars / 481 funds; 5 Year / 5 stars / 447 funds; 10 Year / 5 stars / 358 funds; ) VALLX (3 Year / 2 stars / 1027 funds; 5 Year / 1 stars / 949 funds; 10 Year / 2 stars / 745 funds; ) VALSX (3 Year / 4 stars / 1027 funds; 5 Year / 3 stars / 949 funds; 10 Year / 3 stars / 745 funds; ) VLAAX (3 Year / 5 stars / 682 funds; 5 Year / 3 stars / 628 funds; 10 Year / 5 stars / 490 funds; ) VALIX (3 Year / 2 stars / 682 funds; 5 Year / 3 stars / 628 funds; 10 Year / 4 stars / 490 funds; ) VAGIX (3 Year / 2 stars / 422 funds; 5 Year / 2 stars / 380 funds; 10 Year / 2 stars / 276 funds; )

Source: Morningstar Direct