Portfolio managers use only their highest conviction stock selections in their respective portfolios.

The investment process begins with deep fundamental research.

PRIMECAP Management Company is a bottom-up stock picking firm and does not use a benchmark for any of its investment decisions. The portfolio managers are supported by financial analysts who are focused and cover specific industry groups. New ideas come from analysts and portfolio managers who have developed a differentiated view of an individual company.

New investment recommendations are presented to the entire team where the opportunities and risks are openly discussed. Upon completion of the presentation, new ideas are made eligible for purchase in all of the Funds where the idea is considered appropriate. PRIMECAP does not have a committee or small group that decides on whether or not to invest in an idea. Each portfolio manager makes an individual decision whether or not to invest in new ideas.

Diversification does not assure a profit or protect against loss in a declining market.

About PRIMECAP

Investment Philosophy

Investment Process

Portfolio Managers

Diversity & Inclusion

ESG Statement