Equity Income Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Equity Income Fund held 61 positions with $8.14B in net assets. Its ten largest holdings made up 29.2% of the fund. The PQIAX share class costs 0.85% a year. Over the 12 months to May 2026, PQIAX returned 22.4%, with dividends reinvested. In 2026 Q3 it added 2 new positions and exited 4.
The Fund seeks to provide current income and long-term growth of income and capital.
The fund invests at least 80% of its net assets in dividend-paying equity securities—those that have paid dividends within the past 12 months—selected using a value strategy that targets undervalued companies. The portfolio focuses on large and medium-capitalization stocks and includes foreign issuers. Because dividend-paying status can change, the fund's holdings may shift as companies initiate or suspend dividends.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
4.61% | $374.87M | 974.2K | $384.80 | |
TSMTaiwan Semiconductor Manufacturing Co Ltd | 3.08% | $250.67M | 632.9K | $396.06 |
3.05% | $248.27M | 244.7K | $1,014.53 | |
2.98% | $242.46M | 774.1K | $313.23 | |
2.78% | $226.18M | 1.2M | $190.59 | |
2.75% | $223.57M | 1.5M | $153.86 | |
2.54% | $206.84M | 419.9K | $492.54 | |
CMICummins Inc | 2.50% | $203.85M | 303.8K | $671.01 |
KKRKKR & Co Inc | 2.48% | $201.99M | 1.9M | $104.34 |
2.47% | $200.88M | 2.6M | $78.76 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 61 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 99.23% |
| Cash & short-term | 0.65% |
By sector
- Financials
- 19.6%
- Information Technology
- 15.5%
- Industrials
- 11.0%
- Consumer Discretionary
- 9.4%
- 9 other sectors
- 44.5%
- Financials
- 19.6%
- Information Technology
- 15.5%
- Industrials
- 11.0%
- Consumer Discretionary
- 9.4%
- Health Care
- 8.4%
- International
- 7.6%
- Consumer Staples
- 7.5%
- Utilities
- 5.2%
- Energy
- 4.9%
- Materials
- 3.8%
- Real Estate
- 3.4%
- Communication Services
- 2.7%
- Cash
- 1.0%
How it has done
PQIAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 10.80%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 8 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.85% | +22.43% | +63.58% | +51.41% | -10.54% | |
| 1.63% | +21.45% | +59.76% | +45.66% | -10.71% | |
| 0.52% | +22.78% | +65.19% | +53.99% | -10.46% | |
| — | — | — | — | — | |
| 1.08% | +22.12% | +62.41% | +49.69% | -10.58% | |
| — | — | — | — | — | |
| 0.77% | +22.49% | +63.94% | +52.00% | -10.51% | |
| 0.74% | +22.55% | +64.07% | +52.13% | -10.54% |
Fees & fund details
Equity Income Fund is an actively managed U.S. equity fund. 10% of PQIAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 90% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.52% – 1.63%· PQIAX 0.85%
- Portfolio turnover
- 16.70% a year · as of 2026 Q1
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
2 new
4 exited
Understand how this fund fits with the rest.
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