Fund Overview Fund Overview Share Class Z N I Z NAV | as of 12/05/2023 $16.96 -$0.05 (-0.29%) Morningstar | Style Box V B G L M S Overall Morningstar Rating Rated against 1126 Large Growth funds as of 10/31/2023 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 06/03/2009 to 11/30/2023 = $67,007.17 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. View Performance Read Important Investment Disclosures Objective Seeks to provide long-term capital appreciation by investing in large cap domestic companies selected through proprietary quantitative modeling and bottom-up fundamental analysis. Why Consider May be appropriate for investors looking to gain exposure to U.S. large cap companies With a growth-oriented style, the Fund targets companies that have shown strong and consistent earnings growth and that trade at attractive valuations The Fund generally holds 50 to 60 stocks at any given time, depending on market conditions Documents Fact Sheet Commentary Summary Prospectus Prospectus 2023 Distributions Estimates View All Documents Michael E. Schroer, CFA MANAGING PARTNER AND CHIEF INVESTMENT OFFICER See Our Approach Read Bio Andy Eng, CFA PARTNER, PORTFOLIO MANAGER, SENIOR RESEARCH ANALYST See Our Approach Read Bio Investment Style Renaissance Large Cap Growth Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective Renaissance Large Cap Growth Fund is categorized as Large-Growth. It invests in large-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 10/31/2023 Overall Rating (of 1126) 3 Years (of 1126) 5 Years (of 1039) 10 Years (of 808) Category Large Growth Read Important Investment Disclosures Michael E. Schroer, CFA MANAGING PARTNER AND CHIEF INVESTMENT OFFICER Mike has over 40 years of investment experience and has been with Renaissance since 1984. As Chief Investment Officer for Renaissance, Mike supervises the management and direction of the firm’s investment research efforts and determines overall portfolio strategy. Mike is a 1980 graduate of the University of Cincinnati and earned a master's from the Indiana University Graduate School of Business in 1982. He was awarded a Chartered Financial Analyst designation in 1985 and is a member of the CFA® Institute and the CFA Society of Cincinnati. Andy Eng, CFA PARTNER, PORTFOLIO MANAGER, SENIOR RESEARCH ANALYST Andy joined Renaissance in 2016 and is a Senior Research Analyst and Co-Portfolio Manager for the Large Cap Growth Strategy and Portfolio Manager for the Midcap Growth Strategy. He has over 20 years of investment experience prior to joining Renaissance and was the portfolio manager for the equity portfolio of Northwestern Mutual Life Insurance Company in Milwaukee. In addition, he held a variety of analytical and portfolio management responsibilities during his 17 years at Northwestern Mutual, including fundamental stock analysis and portfolio management of a small cap growth fund. Prior to joining Northwestern Mutual, Andy started his investment career with AllianceBernstein. Andy graduated from the University of Illinois where he earned a Bachelor of Science in Finance. He also holds a Master of Business Administration from Washington University in St. Louis and became a CFA charterholder in 2003. He is a member of the CFA Institute and the CFA Society of Cincinnati. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized. Expense Ratios Gross Expense Ratio: 0.81% Net Expense Ratio: 0.66% Expense Cap Expiration Date: 05/01/2024 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 15, 2022 $1.054900 $0.079700 — $0.975200 Dec 15, 2021 $1.530400 $0.060200 $0.097800 $1.372400 Dec 16, 2020 $0.796400 $0.064800 $0.256200 $0.475400 Dec 16, 2019 $1.185200 $0.126300 $0.131500 $0.927400 Dec 27, 2018 $2.589400 $0.142100 $0.413300 $2.034000 Dec 27, 2017 $0.469000 $0.091000 $0.030500 $0.347500 Dec 27, 2016 $0.270100 $0.098500 $0.043200 $0.128400 Dec 28, 2015 $0.290800 $0.055600 $0.036800 $0.198400 Dec 26, 2014 $2.700300 $0.067800 $0.390900 $2.241600 Dec 26, 2013 $3.841400 $0.129900 $0.585500 $3.126000 Dec 26, 2012 $1.043700 $0.076300 — $0.967400 Dec 27, 2011 $1.714300 $0.117000 $0.293300 $1.304000 Dec 28, 2010 $0.387600 $0.073000 $0.299200 $0.015400 Dec 28, 2009 $0.183800 $0.029900 $0.153900 — From: To: Risk & Return Stats As of: 11/30/2023 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. 3.32 0.62 0.07 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 16.96 19.18 15.72 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.50 0.67 0.74 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 80.10 77.03 71.96 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 82.73 92.82 96.13 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.77 0.86 0.88 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 87.63 90.33 88.89 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 7.56 6.62 5.62 View All Characteristics & Stats All Characteristics & Stats Renaissance Large Cap Growth Fund (MRLIX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 1000® Growth Index Fund Assets (Mil.$) $122 Number of Holdings 55 446 Weighted Avg. Market Cap (Mil.$) $335,480 $965,783 Median Market Cap (Mil.$) $69,644 $16,238 Weighted Avg. P/E (1-yr Forward EPS) 19.78 26.59 Weighted Avg. P/E (Trailing EPS) 23.86 32.31 PEG Ratio 1.54 1.60 Weighted Avg. P/B 5.85 10.23 EPS Growth (Trailing 3-yr %) 18.22% 18.13% EPS Growth (Trailing 5-yr %) 21.00% 20.86% Forward EPS Growth (1-yr %) 10.76% 10.97% Forward EPS Growth (Long Term %) 13.11% 17.66% Revenue Growth (Trailing 5-yr %) 12.45% 15.93% Return on Equity 30.64% 30.48% Weighted Avg. Dividend Yield 1.03% 0.79% Debt to Equity 107.86 104.88 Trailing 12-Months Portfolio Turnover 31.95% As of: 09/30/2023 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. 3.32 0.62 0.07 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 16.96 19.18 15.72 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.50 0.67 0.74 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 80.10 77.03 71.96 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 82.73 92.82 96.13 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.77 0.86 0.88 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 87.63 90.33 88.89 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 7.56 6.62 5.62 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. 0.22 -0.24 -0.32 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 10.98 14.97 13.30 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -24.68 -24.68 -24.68 As of: 11/30/2023 Market Cap Fund Russell 1000® Growth Index Market Cap ($mm) 0 - 1,000 0.00% 0.00% Market Cap ($mm) 1,000 - 1,500 0.00% 0.01% Market Cap ($mm) 1,500 - 2,500 0.00% 0.05% Market Cap ($mm) 2,500 - 5,000 0.00% 0.37% Market Cap ($mm) 5,000 - 10,000 6.55% 1.92% Market Cap ($mm) 10,000 - 25,000 7.20% 5.19% Market Cap ($mm) 25,000 - 50,000 13.95% 7.93% Market Cap ($mm) 50,000 - 100,000 30.23% 9.21% Market Cap ($mm) 100,000 - 200,000 16.69% 11.01% Market Cap ($mm) 200,000 - 25.36% 64.32% Market Cap – NA 0.00% 0.00% As of: 09/30/2023 Valuation Characteristics Fund Russell 1000® Growth Index P/E 0-10 1.84% 0.41% P/E 10-15 10.53% 2.47% P/E 15-20 16.86% 6.67% P/E 20-25 13.81% 6.04% P/E 25-Above 56.95% 81.62% P/E – NA 0.00% 2.79% As of: 09/30/2023 Growth Characteristics Fund Russell 1000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 13.13% 10.30% EPS Growth (Trailing 3-yr %) 0 - 5 6.92% 6.53% EPS Growth (Trailing 3-yr %) 5 - 10 9.88% 9.16% EPS Growth (Trailing 3-yr %) 10 - 15 8.12% 6.29% EPS Growth (Trailing 3-yr %) 15 - 20 13.37% 19.62% EPS Growth (Trailing 3-yr %) Above 20 48.58% 43.16% EPS Growth (Trailing 3-yr %) - NA 0.00% 4.94% As of: 09/30/2023 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2023 Apple Inc 3.19% Microsoft Corp 2.71% Alphabet Inc, Class A 2.47% Amazon.com Inc 2.30% McKesson Corp 2.02% Arch Capital Group Ltd 1.97% Roper Technologies Inc 1.96% Marriott International Inc, Class A 1.94% Meta Platforms Inc, Class A 1.92% Everest Group Ltd 1.92% % in Top 10 Holdings 22.41% View Holding Details Holding Details Renaissance Large Cap Growth Fund (MRLIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2023 Apple Inc 3.19% Microsoft Corp 2.71% Alphabet Inc, Class A 2.47% Amazon.com Inc 2.30% McKesson Corp 2.02% Arch Capital Group Ltd 1.97% Roper Technologies Inc 1.96% Marriott International Inc, Class A 1.94% Meta Platforms Inc, Class A 1.92% Everest Group Ltd 1.92% % in Top 10 Holdings 22.41% As of: 09/30/2023 Download All Holdings (PDF) As of: 10/31/2023 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund AAPL Apple Inc Information Technology S US USD 22,706 170.77 $3,877,504 3.19% MSFT Microsoft Corp Information Technology S US USD 10,451 338.11 $3,533,588 2.91% AMZN Amazon.com Inc Consumer Discretionary S US USD 22,055 133.09 $2,935,300 2.42% GOOGL Alphabet Inc, Class A Communication Services S US USD 22,921 124.08 $2,844,038 2.34% ROP Roper Technologies Inc Information Technology S US USD 4,920 488.57 $2,403,764 1.98% VRTX Vertex Pharmaceuticals Inc Health Care S US USD 6,581 362.11 $2,383,046 1.96% CDNS Cadence Design Systems Inc Information Technology S US USD 9,888 239.85 $2,371,637 1.95% META Meta Platforms Inc, Class A Communication Services S US USD 7,796 301.27 $2,348,701 1.94% CI Cigna Group Health Care S US USD 7,581 309.20 $2,344,045 1.93% ADBE Adobe Inc Information Technology S US USD 4,367 532.06 $2,323,506 1.91% ACGL Arch Capital Group Ltd Financials S BM USD 26,694 86.68 $2,313,836 1.91% NOW ServiceNow Inc Information Technology S US USD 3,968 581.85 $2,308,781 1.90% CHE Chemed Corp Health Care S US USD 4,076 562.65 $2,293,361 1.89% MAR Marriott International Inc, Class A Consumer Discretionary S US USD 12,038 188.56 $2,269,885 1.87% ORLY O'Reilly Automotive Inc Consumer Discretionary S US USD 2,423 930.44 $2,254,456 1.86% PTC PTC Inc Information Technology S US USD 15,925 140.42 $2,236,189 1.84% PG Procter & Gamble Co Consumer Staples S US USD 14,898 150.03 $2,235,147 1.84% UNH UnitedHealth Group Inc Health Care S US USD 4,167 535.56 $2,231,679 1.84% HUM Humana Inc Health Care S US USD 4,255 523.69 $2,228,301 1.84% NFLX Netflix Inc Communication Services S US USD 5,412 411.69 $2,228,066 1.84% MCK McKesson Corp Health Care S US USD 4,878 455.36 $2,221,246 1.83% CDW CDW Corp Information Technology S US USD 11,083 200.40 $2,221,033 1.83% EOG EOG Resources Inc Energy S US USD 17,565 126.25 $2,217,581 1.83% CTAS Cintas Corp Industrials S US USD 4,363 507.12 $2,212,565 1.82% EG Everest Group Ltd Financials S BM USD 5,583 395.62 $2,208,746 1.82% AVGO Broadcom Inc Information Technology S US USD 2,619 841.37 $2,203,548 1.82% V Visa Inc, Class A Financials S US USD 9,299 235.10 $2,186,195 1.80% COR Cencora Inc Health Care S US USD 11,798 185.15 $2,184,400 1.80% GWW WW Grainger Inc Industrials S US USD 2,993 729.83 $2,184,381 1.80% KLAC KLA Corp Information Technology S US USD 4,623 469.70 $2,171,423 1.79% CRM Salesforce Inc Information Technology S US USD 10,712 200.83 $2,151,291 1.77% LECO Lincoln Electric Holdings Inc Industrials S US USD 12,275 174.80 $2,145,670 1.77% MSI Motorola Solutions Inc Information Technology S US USD 7,692 278.46 $2,141,914 1.76% UNP Union Pacific Corp Industrials S US USD 10,284 207.61 $2,135,061 1.76% APH Amphenol Corp, Class A Information Technology S US USD 26,164 80.55 $2,107,510 1.74% MA MasterCard Inc, Class A Financials S US USD 5,550 376.35 $2,088,743 1.72% FI Fiserv Inc Financials S US USD 18,267 113.75 $2,077,871 1.71% JNJ Johnson & Johnson Health Care S US USD 13,702 148.34 $2,032,555 1.67% AMAT Applied Materials Inc Information Technology S US USD 15,344 132.35 $2,030,778 1.67% LRCX Lam Research Corp Information Technology S US USD 3,375 588.22 $1,985,243 1.64% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 28,792 68.12 $1,961,311 1.62% ABT Abbott Laboratories Health Care S US USD 20,658 94.55 $1,953,214 1.61% LMT Lockheed Martin Corp Industrials S US USD 4,251 454.64 $1,932,675 1.59% DHR Danaher Corp Health Care S US USD 10,009 192.02 $1,921,928 1.58% WEX WEX Inc Financials S US USD 11,402 166.48 $1,898,205 1.56% ANSS ANSYS Inc Information Technology S US USD 6,712 278.26 $1,867,681 1.54% HCA HCA Healthcare Inc Health Care S US USD 8,238 226.14 $1,862,941 1.53% MO Altria Group Inc Consumer Staples S US USD 46,111 40.17 $1,852,279 1.53% ITW Illinois Tool Works Inc Industrials S US USD 7,825 224.12 $1,753,739 1.44% KEYS Keysight Technologies Inc Information Technology S US USD 14,232 122.05 $1,737,016 1.43% FTNT Fortinet Inc Information Technology S US USD 30,112 57.17 $1,721,503 1.42% TMO Thermo Fisher Scientific Inc Health Care S US USD 3,707 444.77 $1,648,762 1.36% LOW Lowe's Cos Inc Consumer Discretionary S US USD 8,407 190.57 $1,602,122 1.32% G Genpact Ltd Industrials S US USD 44,254 33.54 $1,484,279 1.22% PYPL PayPal Holdings Inc Financials S US USD 28,503 51.80 $1,476,455 1.22% Cash & Equivalents Cash C US USD - - $1,822,391 1.50% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return EOG Resources Inc 1 1.91% 11.30% Alphabet Inc, Class A 2 2.32% 9.32% BJ's Wholesale Club Holdings Inc 3 1.51% 13.27% CDW Corp 4 1.73% 10.18% Marriott International Inc, Class A 5 1.92% 7.19% Humana Inc 6 1.56% 8.95% Arch Capital Group Ltd 7 1.82% 6.49% Meta Platforms Inc, Class A 8 1.96% 4.61% Adobe Inc 9 1.90% 4.28% UnitedHealth Group Inc 10 1.74% 5.19% As of: 09/30/2023 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Apple Inc 20 3.26% -11.65% Keysight Technologies Inc 19 1.65% -20.99% Fortinet Inc 18 1.60% -22.37% HCA Healthcare Inc 17 1.77% -18.82% Netflix Inc 16 0.60% -13.13% WW Grainger Inc 15 1.70% -12.11% Microsoft Corp 14 2.70% -7.14% Abbott Laboratories 13 1.72% -10.87% Fiserv Inc 12 1.78% -10.46% PayPal Holdings Inc 11 1.45% -12.39% As of: 09/30/2023 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Equity) As of: 09/30/2023 View Allocation Details Allocation Details Renaissance Large Cap Growth Fund (MRLIX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 1000® Growth Index Information Technology 34.08% 42.09% Health Care 21.31% 11.32% Financials 12.28% 6.56% Industrials 11.21% 5.96% Consumer Discretionary 7.49% 15.95% Communication Services 6.07% 11.64% Consumer Staples 5.07% 4.29% Energy 1.83% 0.59% Cash & Other 0.67% 0.00% Materials 0.00% 0.68% Real Estate 0.00% 0.88% Utilities 0.00% 0.05% As of: 09/30/2023 Investment Allocation 09/30/2023 Stocks 99.33% Bonds 0.00% Cash and Other 0.67% As of: 09/30/2023 Industry Fund Russell 1000® Growth Index Software 16.96% 17.98% Health Care Providers & Services 12.71% 2.58% Financial Services 8.39% 4.23% Semiconductors & Semiconductor Equipment 7.01% 9.40% Electronic Equipment, Instruments & Components 5.19% 0.36% Interactive Media & Services 4.39% 10.22% Insurance 3.89% 0.85% Life Sciences Tools & Services 3.32% 1.38% Machinery 3.31% 1.39% Specialty Retail 3.25% 3.35% % in Top 10 Industries 68.42% 51.74% As of: 09/30/2023 Read Important Investment Disclosures Investment Approach Investment Approach Renaissance Large Cap Growth Fund The Fund invests at least 80% of its assets in stocks of large-capitalization companies. The Fund invests primarily in common stock of U.S. companies, but may also invest in preferred stocks. The Fund generally holds 50 to 60 stocks at any given time, depending on market conditions. Renaissance employs a disciplined decision-making process to create and manage a growth-oriented portfolio. Individual issues in the Fund typically sell at reasonable valuation levels and are supported by above-average corporate profitability, accelerating earnings growth and low debt/equity ratios. What Happens When Corporate Earnings Fall? A long-term perspective on the market suggests that a decline in corporate earnings does not necessarily mean muted growth for stocks this year. Read Blog About About Renaissance Investment Management Background Founded in 1978, Renaissance Investment Management is a registered investment advisor based in the greater Cincinnati, Ohio area. The firm serves both institutional and high-net-worth clients and offers a variety of investment management strategies based upon a foundation of intensive research and disciplined, process-oriented decision making. Renaissance is a multidisciplinary firm offering domestic and international investment strategies. Learn More More Products From Renaissance Investment Management Renaissance Emerging Markets Equity Strategy View SMA Details Renaissance International Equity ADR Strategy View SMA Details Renaissance International Small Cap Equity Strategy View SMA Details Renaissance Large Cap Growth Strategy View SMA Details Renaissance Midcap Growth Strategy View SMA Details Renaissance Small Cap Growth Strategy View SMA Details Read Important Investment Disclosures Founded 1978 Headquarters Covington, KY Affiliate Since 1995 Discover how the boutique advantage helps generate alpha. Learn More About AMG