ILCEX — Nomura Large Cap Growth Fund
Data updated: 2026-08-26
ILCEX — Nomura Large Cap Growth Fund. United States Large Cap Growth Equity · $6.23B AUM · 1.10% expense ratio. Holdings, fees, performance and SEC filings.
ILCEX Fund Overview
ILCEX — Nomura Large Cap Growth Fund is a US mutual fund managed by Ivy Funds, categorised as United States Large Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ivy Funds
- Category: United States Large Cap Growth Equity
- Assets under management: $6.23B
- 1-year return: -21.5%
- Ticker: ILCEX
- SEC CIK: 0000883622
- SEC series ID: S000006291
- Share class ID: C000043904
ILCEX Investment Objective and Strategy
Nomura Large Cap Growth Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ivy Funds.
Investment objective
To seek to provide growth of capital.
Principal investment strategy
Ivy Large Cap Growth Fund seeks to achieve its objective by investing primarily in a diversified portfolio of common stocks issued by large-capitalization, growth-oriented companies with above-average levels of profitability and that IICO believes have the ability to sustain growth over the long term. Under normal circumstances, the Fund invests at least 80% of its net assets in large-capitalization companies, which typically are companies with market capitalizations of at least $10 billion at the time of acquisition. Growth-oriented companies are those whose earnings IICO believes are likely to grow faster than the economy. IICO primarily utilizes a bottom-up (researching individual issuers) strategy in selecting securities for the Fund and seeks to invest for the Fund in companies that it believes possess, or have the potential to achieve, dominant market positions and/or structural competitive advantages.
IICO believes that these characteristics can help to mitigate competition and lead to more resilient and sustainable revenue and earnings growth. IICO begins its investment process by screening large-capitalization companies based on profitability, and then attempts to focus on companies operating in large, growing, addressable markets (generally, the total potential markets for their goods and services) whose competitive market position IICO believes will allow them to grow faster than the general economy. The key factors IICO typically analyzes consist of: a companys brand equity, proprietary technology, economies of scale, barriers to entry, strength of management, and level of competitive intensity; return of capital in the form of higher dividends or share repurchases; strong balance sheets and cash flows; the threat of substitute products; and the interaction and bargaining power between a company, its customers, suppliers and competitors.
The Fund typically holds a limited number of stocks (generally 40 to 60). Many of the companies in which the Fund may invest have diverse operations, with products or services in foreign markets. Therefore, the Fund may have indirect exposure to various foreign markets through investments in these companies, even if the Fund is not invested directly in such markets. In general, IICO may sell a security when, in IICOs opinion, a company experiences deterioration in its growth and/or profitability characteristics, or a fundamental breakdown of its sustainable competitive advantages. IICO also may sell a security if it believes that the security no longer presents sufficient appreciation potential; this may be caused by, or be an effect of, changes in the industry or sector of the issuer, loss by the company of its competitive position, poor execution by management, the threat of technological disruption and/or poor use of resources.
IICO also may sell a security to reduce the Funds holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
ILCEX Holdings
Top 10 holdings of Nomura Large Cap Growth Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| NVIDIA Corp. | 15.60% |
| Apple, Inc. | 8.58% |
| Microsoft Corp. | 7.74% |
| Alphabet, Inc. | 7.16% |
| Advanced Micro Devices, Inc. | 5.14% |
| Amazon.com, Inc. | 5.07% |
| Visa, Inc. | 4.87% |
| Eli Lilly & Company | 4.81% |
| Taiwan Semiconductor Manufacturing Company Ltd. | 3.99% |
| Broadcom, Inc. | 3.21% |
ILCEX Portfolio Allocation
Asset-class allocation of Nomura Large Cap Growth Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.6% |
ILCEX Performance
Total returns for ILCEX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -21.5% |
| 3 years (annualised) | -8.0% |
ILCEX Risk Information
Risk metrics for ILCEX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.3%
ILCEX Costs and Fees
ILCEX costs about $110 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.10%
- Gross expense ratio: 1.10%
- Portfolio turnover: 24%
- Brokerage commissions: 0.78 bps of average net assets (SEC N-CEN)
ILCEX Cashflows
Over the 12 months to 2026-06, Nomura Large Cap Growth Fund had net outflows of $1.49B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$91.25M |
| 2026-05 | −$146.38M |
| 2026-04 | −$111.86M |
| 2026-03 | −$323.38M |
| 2026-02 | −$351.96M |
| 2026-01 | −$308.16M |
ILCEX Debt Constituents
No individual debt constituents are reported in Nomura Large Cap Growth Fund's latest SEC N-PORT filing.
ILCEX Prospectus and SEC Filings
Official Nomura Large Cap Growth Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-07-29
- Prospectus (485BPOS) — filed 2025-07-29
- Prospectus supplement (497) — filed 2024-08-02
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-06-12
- Annual census (N-CEN) — filed 2025-06-12
Related Funds
Other United States Large Cap Growth Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.