The Focus Fund normally concentrates its investments in a core group of 20-30 common stocks selected for their long-term growth potential. In selecting investments for the Fund, management focuses on industry leaders with dominant franchises and strong growth prospects. The Fund may concentrate at least 25%, and as much as 100%, of its assets in the securities of companies in the technology industry.

The holdings information provided should not be construed as a recommendation to purchase or sell a particular security and may not be representative of the Fund's current or future investments.