The fund primarily allocates at least 80% of its total holdings to equity investments. Up to 25% of the portfolio may be directed towards international equities, such as American Depositary Receipts (ADRs) and comparable instruments. The investment strategy is unconstrained by company size, allowing for investments across the full spectrum of market capitalizations. Fund managers endeavor to pinpoint businesses with strong prospects for both revenue and profit expansion, that maintain a distinct competitive edge, and are led by skilled management teams with a proven track record of acting in the best long-term interests of their shareholders.