LVFLX | Focused Large Cap Value Fund Class R6 | Lord Abbett

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Focused Large Cap Value Fund

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Summary

Summary

What is the Focused Large Cap Value Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of large U.S. companies.

Fund Basicsas of 10/31/2022

Total Net Assets
$19.17 M
Inception Date
08/01/2019
Dividend Frequency
Annually
Fund Expense Ratio
0.68%
Number of Holdings
36

Fund Expense Ratio :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -5.45% 0.55% 9.03% - - 9.11%
Lipper Category Avg. Large-Cap Value Funds -2.92% 2.93% 9.47% - - -
Russell 1000® Value Index -3.65% 2.42% 8.40% - - 9.13%

Fund Expense Ratio :

0.68%

Fund Expense Ratio :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -20.67% -15.32% 4.16% - - 3.70%
Lipper Category Avg. Large-Cap Value Funds -17.55% -10.65% 5.30% - - -
Russell 1000® Value Index -17.75% -11.36% 4.36% - - 4.30%

Fund Expense Ratio :

0.68%

TEN LARGEST HOLDINGS as of 10/31/2022

Holding Assets
Ameriprise Financial Inc 4.4%
Allstate Corp/The 4.2%
Raytheon Technologies Corp 4.2%
CVS Health Corp 3.7%
KKR & Co Inc 3.6%
NRG Energy Inc 3.5%
Wells Fargo & Co 3.5%
AbbVie Inc 3.4%
T-Mobile US Inc 3.3%
Parker-Hannifin Corp 3.1%

INVESTMENT TEAM

A. Edward Allinson
John C. Hardy

Portfolio Manager

19 Years of Industry Experience

Jeff Diamond
Jeff Diamond, CFA

Portfolio Manager

35 Years of Industry Experience

John F. Corr
Darnell Azeez

Portfolio Manger

20 Years of Industry Experience

Supported By 34 Investment Professionals with 18 Years Avg. Industry Experience

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Performance

Performance

Fund Expense Ratio :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -5.45% 0.55% 9.03% - - 9.11%
Lipper Category Avg. Large-Cap Value Funds -2.92% 2.93% 9.47% - - -
Russell 1000® Value Index -3.65% 2.42% 8.40% - - 9.13%

Fund Expense Ratio :

0.68%

Fund Expense Ratio :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -20.67% -15.32% 4.16% - - 3.70%
Lipper Category Avg. Large-Cap Value Funds -17.55% -10.65% 5.30% - - -
Russell 1000® Value Index -17.75% -11.36% 4.36% - - 4.30%

Fund Expense Ratio :

0.68%

Year Fund Returns Russell 1000® Value Index
2021 28.05% 25.16%
2020 5.00% 2.80%
2019 5.19% 26.54%
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -1.49% -13.42% -6.99% - -9.52%
2021 14.51% 5.03% -0.27% 6.75% 28.05%
2020 -36.10% 29.14% 2.09% 24.63% 5.00%
2019 - - - 5.97% 5.19%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning
as of 9/30/2022

  • The Fund employs a fundamental, bottom-up individual stock selection strategy that focuses on quality companies with compelling valuation over a long term horizon.
  • We initiated a position in Fiserv, Inc., which engages in the provision of financial services technology. The company has healthy margins and high free cash flow conversion. We believe investors are under-estimating Fiserv’s ability to adapt to the Covid-driven pull forward of Fintech competition, and the durability of its bank core processing and card issuing businesses.
  • We also initiated a position in shares of Assurant, Inc., an insurance company. They are a capital-light specialty insurer with strong market share and high returns at what we believe to be an attractive valuation. The stock recently declined significantly due to the impact of inflation on claims costs in Assurant’s lender-placed homeowner’s insurance line, a relatively smaller portion of its business, which we view as short-lived.
  • We sold the Fund’s position in Lockheed Martin Corp., a global security and aerospace company, in favor of what we consider to be more attractive investment opportunities consistent with our normalized free cash flow methodology.
  • We sold the Fund’s position in Fidelity National Financial, Inc., which engages in the provision of title insurance and transaction services to the real estate and mortgage industries. Our thesis increasingly played out as fixed annuity sales have exceeded expectations. Housing fundamentals appear increasingly at risk from the tightening of monetary policy by the U.S. Federal Reserve, which could negatively impact their core title insurance business.

PORTFOLIO DETAILS as of 10/31/2022

Total Net Assets
$19.17 M
Number of Holdings
36
Weighted Average Market Cap.
102.8 B
P/B Ratio
2.3x
P/E Ratio
12.5x

Contributors & Detractors as of  09/30/2022

Contributors

Holding Contribution
Chesapeake Energy Corp 0.5%
Bjs Whsl Club Hldgs Inc 0.4%
Ameriprise Financial Inc 0.3%
Wells Fargo & Co. 0.1%
CVS Caremark Corp. 0.1%

Detractors

Holding Contribution
Spectrum Brands Hldgs I -1.2%
Organon & Co -1.1%
Euronet Worldwide Inc -0.6%
Comcast Corp. -0.6%
United Technologies Corp. -0.6%

Attribution Analysis 

Focused Large Cap Value Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Fees & Expenses

Fees & Expenses

Expense Ratioas of 11/30/2022

0.68%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015

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