Waddell & Reed

Fund Detail

Ivy Large Cap Growth Fund
Class A Shares

Please select a fund and share class

Fund Facts
Ticker Symbol WLGAX
CUSIP 466000627
Fund Code 667
Fund Type Domestic Equity
Fund Inception 6/30/2000
Class Inception 6/30/2000
Fiscal Year End March
Dividends Paid December
Fund Assets (as of 7/31/2016) $1.8 bil
Total Equity Holdings (as of 7/31/2016) 46
Total Holdings (as of 7/31/2016) 52
Portfolio Turnover Rate (as of 3/31/2016) 38%
Lipper Category Large-Cap Growth Funds
Morningstar Category Large Growth
Benchmarks Russell 1000 Growth TR USD
Daily Prices
as of 8/26/2016
Net Asset Value (NAV) $18.60
NAV Change ($) $0.01
NAV Change (%) 0.05%
Weekly NAV Change ($) ($0.14)
Weekly NAV Change (%) -0.75%
Public Offering Price (POP) $19.73
Historical Prices & Distributions
Please select a date
Fund Description

Seeking quality growth companies with competitive advantages


Strategic process
Primarily uses a bottom-up strategy focusing on companies believed to have dominant market positions and established competitive advantages. These characteristics can help to mitigate competition and lead to more sustainable revenue and earnings growth.
Management discipline
Places strict adherence to large-company growth style investing. Management team has managed large-cap growth strategies for more than a decade and has 25+ years of professional investment experience.
Potential benefits
Employs a consistent effort to provide the highest level of risk-adjusted results within multiple market environments.
Morningstar Style Box
Source: Morningstar
Returns and Expenses

Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Performance at NAV does not include the effect of sales charges. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 7/31/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 1.37% -0.51% 12.44% 11.70% 8.41% 5.72%
Fund with 5.75% sales charge -4.48% -6.22% 10.25% 10.38% 7.77% 5.33%
Russell 1000 Growth TR USD 6.14% 4.35% 12.86% 13.62% 9.50% 2.67%
Lipper Large-Cap Growth Funds 2.60% 0.03% 11.10% 11.70% 8.21% N/A
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 6/30/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -4.26% -2.95% 12.09% 10.38% 7.21% 5.37%
Fund with 5.75% sales charge -9.78% -8.52% 9.91% 9.08% 6.58% 4.98%
Russell 1000 Growth TR USD 1.36% 3.02% 13.07% 12.35% 8.78% 2.39%
Lipper Large-Cap Growth Funds -2.40% -1.68% 11.28% 10.41% 7.43% N/A
Expense Ratios
as of 7/31/2016
Net 1.15%
Gross 1.16%
Growth of a $10,000 Investment
through 7/31/2016
 Large Cap Growth A
 Russell 1000 Growth TR USD

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Ratings and Rankings
Lipper Rankings
as of 7/31/2016
Category: Large-Cap Growth Funds
  Rank Percentile
1 Year 389 / 688 57
3 Year 156 / 628 25
5 Year 276 / 549 51
10 Year 180 / 395 46

Rankings are based on average annual total returns, but do not consider sales charges.

Morningstar Ratings
as of 7/31/2016
Category: Large Growth
Overall (out of 1482 Large Growth)
3 Year (out of 1482 Large Growth)
5 Year (out of 1287 Large Growth)
10 Year (out of 924 Large Growth)

Ratings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 7/31/2016)
Domestic Common Stock 92.52%
Foreign Common Stock 6.36%
Cash and Cash Equivalents 1.12%
Sector Allocation
(as a % of equity holdings as of 7/31/2016)
Information Technology 37.2%
Health Care 20.5%
Consumer Discretionary 16.7%
Industrials 11.5%
Energy 3.9%
Consumer Staples 3.5%
Financials 3.3%
Telecommunication Services 2.1%
Materials 1.3%
Equity Country Allocation
(as a % of equity holdings as of 7/31/2016)
United States 93.6%
Canada 2.4%
Ireland 2.3%
Netherlands 1.8%
Top 10 Equity Holdings
(as a % of net assets as of 7/31/2016)
Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry. The Company designs, manufactures, markets, and services semiconductor processing equipment used in the fabrication of integrated circuits.Lam Research Corp. 4.22%
The Home Depot, Inc. (The Home Depot) is a home improvement retailer. The Home Depot stores sell an assortment of building materials, home improvement and lawn and garden products and provide a number of services.Home Depot, Inc. (The) 4.07%
MasterCard Incorporated (MasterCard) is a global payments company that provides a economic link among financial institutions, businesses, merchants, cardholders and governments worldwide, enabling them to use electronic forms of payment instead of cash and checks.MasterCard, Inc., Class A 4.07%
Visa Inc. operates retail electronic payments network worldwide. It facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.Visa, Inc., Class A 4.05%
Allergan plc 3.84%
Amazon.com, Inc. operates as an online retailer in North America and internationally.Amazon.com, Inc. 3.57%
Facebook, Inc. operates as a social networking company worldwide. It builds various tools that enable users to connect, share, discover, and communicate with each other on mobile devices and computers.Facebook, Inc., Class A 3.51%
Philip Morris International Inc manufactures and sells cigarettes and other tobacco products in markets outside of the United States of America. The company's portfolio comprises international and local brands.Philip Morris International, Inc. 3.45%
Alphabet Inc., through its subsidiaries, provides online advertising services in the worldwide. The company offers performance and brand advertising services. It operates through Google and Other Bets segmentsAlphabet, Inc., Class A 3.19%
Bristol-Myers Squibb Company, a biopharmaceutical company, discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products that help patients prevail over serious diseases worldwide.Bristol-Myers Squibb Co. 3.16%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 6/30/2016)
Top 10 Industry Allocation
(as a % of equity holdings as of 7/31/2016)
Data Processing & Outsourced Services 10.0%
Pharmaceuticals 9.3%
Internet Software & Services 8.9%
Aerospace & Defense 5.4%
Biotechnology 5.3%
Railroads 4.6%
Semiconductors 4.4%
Application Software 4.4%
Semiconductor Equipment 4.3%
Home Improvement Retail 4.1%
Portfolio Management
Manager Name Company Name Years in Industry Years with Fund
Daniel P. Becker is a senior vice president of Ivy Investment Management Company. Mr. Becker graduated from the University of Wisconsin at Madison in 1987 with a BS in mathematical economics. He earned an MS with an emphasis in finance, investments, and banking from the University of Wisconsin Graduate School of Business in 1989. He joined Waddell & Reed in October 1989 as an investment analyst. He was named portfolio manager of the Ivy Large Cap Growth Fund at its inception in July 2000. Mr. Becker is a member of the Association for Investment Management and Research.Daniel P. Becker, CFA Ivy Investment Management Company 27 16
Bradley M. Klapmeyer is assistant vice president of Ivy Investment Management Company and Waddell & Reed Investment Management Company. He joined the firm in June 2007 as an investment analyst and was appointed assistant vice president in January 2010. He became an assistant portfolio manager on the large-cap growth team in September 2011. In August 2014, Mr. Klapmeyer was appointed portfolio manager of the Ivy Tax-Managed Equity Fund and Waddell & Reed Advisors Tax-Managed Equity Fund. In August 2016, he was appointed co-portfolio manager of the Ivy Large Growth Fund, Waddell & Reed Advisors Vanguard Fund, Ivy Funds VIP Growth and large-cap growth equity institutional accounts. He was previously affiliated with Prudential Equity Group, LLC where he helped cover the airline sector from 2006 to 2007. From 2000 to 2006, he was an equity analyst for Commerce Bank where his research responsibilities focused on electronic and health technologies. He graduated from Truman State University in 1999 with a BS in finance and a minor in economics. Mr. Klapmeyer is a CFA charterholder and a member of the Kansas City CFA Society.Bradley M. Klapmeyer, CFA Ivy Investment Management Company 18 1

Risk Factors: The value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. These and other risks are more fully described in the fund's prospectus. Not all funds or fund classes may be offered at all broker/ dealers.

Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time.

Stylebox: The Morningstar Equity style box reveals a fund's investment strategy by displaying the fund's investment style and the market capitalization of the stocks owned.

Index Description: The Russell 1000 Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe. It is not possible to invest directly in an index.

Performance results for some funds may include the effect of expense reduction arrangements. If those arrangements had not been in place, the performance results would have been lower.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2017, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s Distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses for Class A shares at 1.15%, Class E shares at 1.15%, Class I shares at 0.88%, and Class Y shares at 1.06%. Prior to that date, the expense limitation may not be terminated by IICO, IDI, WISC or the Board of Trustees.

Unsubsidized yields reflect what the yield would have been without the effect of reimbursements and waivers. The adviser and its affiliates have or may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (12b-1) fees) and reimburse certain expenses. There is no guarantee that the fund will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.

12-Month Trailing Distribution Yield: at NAV refers to the 12-month historical cash flow paid over the past 12 months in dividends, divided by the past months ending NAV.

Morningstar Ratings: For each fund with at least a 3-year history, Morningstar calculates a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of all sales charges), placing emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund and rated separately.) A fund's overall rating is derived from a weighted average of the 3-, 5- and 10-year (if applicable) rating metrics. Morningstar Rating is for the share classes specified; other classes may have different performance characteristics.

Information is subject to change and is not intended to represent any past or future investment recommendations.

Please remember that an investment in a mutual fund involves risk. Investment return and principal value of a mutual fund investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

Financial Advisor Opportunities
Corporate Careers