Overview

Historical Returns (%) as of Dec 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Max Sales Charge: 5.25%.
 

Fund Facts as of Dec 31, 2024

Class A Inception 01/03/2012
Investment Objective Long-term capital growth
Total Net Assets $790.8M
Minimum Investment $1000
Expense Ratio (Gross)2 1.06%
Expense Ratio (Net)2,3 1.05%
CUSIP 277902466
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Eaton Vance Funds, if applicable none of which are paid to Eaton Vance.

Top 10 Holdings (%)4,5 as of Dec 31, 2024

Fiserv Inc 8.65
White Mountains Insurance Group Ltd 7.68
Alphabet Inc - CL C 7.33
GoDaddy Inc 6.91
TJX Cos Inc 6.36
Gartner Inc 5.11
Markel Group Inc 5.07
CDW Corp/DE 4.28
Ross Stores Inc 4.19
Global Payments Inc 4.05
Total 59.62
 

Portfolio Management

W. Matthew Hereford, CFA Managed Fund since inception
Charles B. Reed, CFA Managed Fund since inception
Jeffrey Wilson, CFA Managed Fund since 2024

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


1. Russell 1000® Index is an unmanaged index of 1,000 U.S. large-cap stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Source: Fund prospectus.
3. Net Expense Ratio reflects a contractual expense reimbursement that continues through 2/1/25. Without the reimbursement, if applicable, performance would have been lower.
4. Top 10 Holdings excludes cash and equivalents.
5. Percent of total net assets.

Performance

Historical Returns (%) as of Dec 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Max Sales Charge: 5.25%.
 

Calendar Year Returns (%)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund at NAV 11.36 2.57 5.61 19.48 -0.63 38.13 15.54 15.22 -12.28 20.54
Russell 1000® Index1 13.24 0.92 12.05 21.69 -4.78 31.43 20.96 26.45 -19.13 26.53
 

Fund Facts

Class A Inception 01/03/2012
Expense Ratio (Gross)2 1.06%
Expense Ratio (Net)2,3 1.05%
Distribution Frequency Annually
Adjusted Expense Ratios excludes certain investment expenses such as interest expense from borrowings and repurchase agreements and dividend expense from short sales, incurred directly by the Fund or indirectly through the Fund’s investment in underlying Eaton Vance Funds, if applicable none of which are paid to Eaton Vance.

Risk Measures (3 Year)7 as of Dec 31, 2024

Alpha (%) -0.67
Beta 0.91
R-Squared (%) 91.59
Standard Deviation (%) 16.71
Sharpe Ratio 0.18
 

Morningstar Rating™ as of Dec 31, 2024

Time Period Rating Funds in
Large Growth
Category
Overall 1020
3 Years 1020
5 Years 952
10 Years 748
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2024 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
 

NAV History

Date NAV NAV Change
Jan 17, 2025 $35.25 $0.14
Jan 16, 2025 $35.11 $0.23
Jan 15, 2025 $34.88 $0.32
Jan 14, 2025 $34.56 $0.26
Jan 13, 2025 $34.30 $0.22
Jan 10, 2025 $34.08
Jan 08, 2025 $34.76 $0.13
Jan 07, 2025 $34.63 -$0.22
Jan 06, 2025 $34.85 $0.06
Jan 03, 2025 $34.79 $0.27
 

Distribution History8

Ex-Date Distribution Reinvest NAV
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History8

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 10, 2024 $1.60210
Dec 12, 2023 $0.83320
Dec 13, 2022 $1.75290
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


1. Russell 1000® Index is an unmanaged index of 1,000 U.S. large-cap stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
2. Source: Fund prospectus.
3. Net Expense Ratio reflects a contractual expense reimbursement that continues through 2/1/25. Without the reimbursement, if applicable, performance would have been lower.
6. The Morningstar Large Growth Category includes funds that invest primarily in U.S. large-cap companies with growth characteristics such as high earnings growth and high valuations (high price ratios and low dividend yields).
7. Alpha measures risk-adjusted performance, showing excess return delivered at the same risk level as the benchmark. Beta measures the volatility of a fund relative to the overall market. R-Squared represents the percentage of the portfolio's movement that can be explained by the general movement of the market. Standard deviation measures the historic volatility of a fund. Sharpe Ratio uses standard deviation and excess return to determine reward per unit of risk.
8. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Asset Mix (%)5,9 as of Dec 31, 2024

Portfolio Statistics as of Dec 31, 2024

Average Market Cap $249.1B
Price/Earnings Ratio 22.72
Number of Holdings 27
Price/Book Ratio 3.58
Active Share10 94.44%
 

GICS Sector Breakdown (%)5 as of Dec 31, 2024

 

Fund Holdings (%)5,11 as of Nov 30, 2024

Holding % of Net Assets
Fiserv Inc 9.39%
White Mountains Insurance Group Ltd 7.52%
GoDaddy Inc 7.09%
TJX Cos Inc 6.68%
Alphabet Inc - CL C 6.22%
Gartner Inc 5.18%
Markel Group Inc 4.96%
CDW Corp/DE 4.10%
Global Payments Inc 4.07%
Martin Marietta Materials Inc 4.06%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


1. Russell 1000® Index is an unmanaged index of 1,000 U.S. large-cap stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund.
5. Percent of total net assets.
9. A delay in transaction settlement may result in a negative cash position.
10. Active Share is a measure of the differentiation of the holdings of a portfolio from the holdings of its appropriate benchmark index. It is calculated as one half of the sum of the absolute value of the differences found between the portfolio weights and the benchmark weights.
11. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.

Management

W. Matthew Hereford, CFA

W. Matthew Hereford, CFA

Managing Director
Atlanta Capital Management
Joined Atlanta Capital 2002

Biography

Matt is a managing director of Atlanta Capital Management. He is a portfolio manager on the core equity team and a member of the firm's Management Committee. He joined Atlanta Capital in 2002.

Matt began his career in the investment management industry in 1995. Prior to joining Atlanta Capital, Matt was a portfolio manager at Invesco.

Matt earned a B.B.A. in international business from the University of Mississippi. He is a CFA charterholder.

Education
  • B.B.A. University of Mississippi

Experience
  • Managed Fund since inception

Other funds managed
 
Charles B. Reed, CFA

Charles B. Reed, CFA

Managing Director
Atlanta Capital Management
Joined Atlanta Capital 1998

Biography

Chip is a managing director of Atlanta Capital Management. He is a portfolio manager on the core equity team and a member of the firm's Management Committee. He joined Atlanta Capital in 1998.

Chip began his career in the investment management industry in 1989. Prior to joining Atlanta Capital, he was a portfolio manager with the Florida State Board of Administration.

Chip earned a B.S. in finance from Florida State University. He is a CFA charterholder.

Education
  • B.S. Florida State University

Experience
  • Managed Fund since inception

Other funds managed
 

Jeffrey Wilson, CFA

Managing Director
Joined Morgan Stanley 2024

Biography

Mr. Wilson is a Managing Director and serves as a Portfolio Manager for the Core Equity team.

Prior to joining the firm in 2024, Mr. Wilson was a Senior Analyst and Portfolio Manager at Blue Grotto Capital and GMT Capital, and began his career at the institutional investment firm Montag & Caldwell.

Mr. Wilson holds the Chartered Financial Analyst designation and is a graduate of Wake Forest University where he earned a Bachelor of Science degree in Finance and Master of Science degree in Accounting.

Education
  • B.S. Wake Forest University

Experience
  • Managed Fund since 2024

Other funds managed
 

Literature

Literature

Fund Fact Sheet

Download Fund Fact Sheet - Last updated: Dec 31, 2024

Annual Financial Statements and Add'l Information

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Semi-Annual Financial Statements and Add'l Information

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Commentary

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Attribution

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Annual Report

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Full Prospectus

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Q1 Holdings

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Q3 Holdings

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Holdings - Form N-PORT

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SAI

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Semi-Annual Report

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Summary Prospectus

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