The fund's manager employs a systematic, data-driven approach to evaluate U.S. common stocks, specifically targeting those with comparatively low market valuations when assessed against their underlying financial fundamentals. Its holdings are broadly diversified, encompassing companies of varying market capitalizations—large, mid, and small—as well as numerous economic sectors and distinct industry groups. The primary objective is to achieve long-term capital appreciation. Typically, a minimum of 80% of the fund's assets will be invested in securities issued by American companies. This "Value factor" is precisely measured using criteria such as book value-to-price ratio, forward earnings-to-price ratio, and (for non-financial entities only) operating cash flows-to-price ratio.

Bristol-Myers Squibb Company

Pfizer Inc.

EOG Resources, Inc.

AT&T Inc.

Verizon Communications Inc.

Cigna Corporation

Marathon Petroleum Corporation

General Motors Company

Salesforce, Inc.

U.S. Bancorp

Financial Services

Consumer Cyclical

Healthcare

Technology

Industrials

Energy

Consumer Defensive

Communication Services

Basic Materials

Real Estate

Vanguard U.S. Value Factor ETF

VFVA Holdings & Sector Breakdown