(PUB) Morningstar FundInvestor

6

Data through October 31, 2013 PRIMECAP Odyssey Aggressive Growth

Ticker

Status Yield Total Assets

Mstar Category Mid-Cap Growth

POAGX Open

0.0% $4,437 mil

Morningstar Analyst Rating 10-24-13

Investment Style Equity Stock %

Historical Profile Return Risk Rating High High Highest

93% 91% 98% 95% 93% 94% 97% 91% 92%

Œ

Manager Change Partial Manager Change

14.0 18.0 23.6 27.6

Morningstar Pillars Process Performance

Growth of $10,000

Positive Positive Positive Positive Positive

Investment Values of Fund Investment Values of S&P 500

10.0

People Parent Price

6.0

Performance Quartile (within Category) History

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 10-13

Morningstar Analyst Rating Morningstar evaluates mutual funds based on five key pillars, which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analyst Rating Spectrum Œ „ ´ˇ ¨

11.08 . .

11.96

14.34

14.22

9.30

13.99 50.43 23.97

16.47 21.57 6.51 -4.81 0.00 21.57 0.00 0.53 0.71 -0.45 73

16.07 -0.45 -2.56 1.20 0.00 -0.45 0.00 0.32 0.68 -0.33 25

19.48 21.22

28.71 47.38 22.08 18.67

NAV

21.57 7.94 . . . 5.78 3.03 . . . -4.16 . . . 0.00 0.00 . . . 21.57 7.94 . . . 1 66 . . .

-34.60 -0.19

Total Return %

-5.68

2.40 9.72 0.00

5.22 5.41 0.00

+/-S&P 500 +/-Russ MG

-11.62 10.91

4.14 0.00

0.00

0.00

Income Return % Capital Return %

-34.60 -0.19

50.43

21.22

47.38

95

7

12

4

1

Total Rtn % Rank Cat

Pillar Spectrum Positive

0.00 . . 0.00 . .

0.00 0.00

0.00 0.20

0.00 0.09 0.78 -0.25

0.00 0.00 0.78 -0.46

0.00 0.00 0.77 -0.54

0.00 0.00 0.68 -0.32

0.00 0.00

Income $

§ Negative

¶ Neutral

Capital Gains $ Expense Ratio % Income Ratio % Turnover Rate % Net Assets $mil

0.99 1.25 . . . -0.33 -0.82 . . . 12 7 . . .

. . .

Performance 10-31-13 1st Qtr 2nd Qtr

3rd Qtr

4th Qtr

Total

6

24

20

15

11

14

2009 2010 2011 2012 2013

-4.09 18.05 23.74 7.37 50.43 9.86 -10.02 10.92 10.87 21.57 8.38 0.73 -16.91 9.74 -0.45 14.81 2.98 2.79 -0.26 21.22 15.91 9.34 14.26 . .

12 . .

32

159

331

219

441

914

1,086

1,688

4,437

Portfolio Analysis 09-30-13 Share change since 06-13 Total Stocks:117 Sector

Rating and Risk Time Load-Adj

PE Tot Ret% % Assets

Morningstar

Morningstar Risk vs Cat

Morningstar Risk-Adj Rating

Period Return % Rtn vs Cat

Dreyfus Treasury Pr Cash Pharmacyclics, Inc. Seattle Genetics, Inc.

8.02

. . . Hlth care 86.2 105.33 4.59

1 Yr 3 Yr 5 Yr

52.23 23.21 26.17

Trailing

Total

+/-

+/- Russ %Rank Growth of

Return% S&P 500 8.50 3.75

MG

Cat

$10,000

High High

+Avg High

Hlth care

66.81 3.15

.

3 Mo 6 Mo 1 Yr

2.86

14 10,850 1 12,537 1 15,223 1 18,704

Dreamworks Animation SKG Cnsmr Cyc

. 106.64 2.81

25.37 14.22 11.62 52.23 25.05 18.30

10 Yr Incept

. . . .

Roche Holding AG

Hlth care 18.7 41.15 2.77 Hlth care 117.7 27.60 2.63

13.35

Qiagen NV

3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg

23.21 6.65 26.17 11.00

6.05 5.85

Active Network Inc CME Group, Inc. Class A Tribune Company Sony Corporation ADR Micron Technology, Inc. Delta Air Lines Inc Polypore International, United Continental Holdi Tuesday Morning Corporat comScore, Inc.

Technology

. 194.09 2.12

Other Measures

Standard Index

Best Fit Index S&P 500 Mstar Small Growth

1 31,973 . . . . . . . . . . Tax Analysis Tax-Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat

Finan Svs 26.5 49.12 2.07

Cnsmr Cyc

2.06

. .

Alpha

3.3

4.3

Technology 14.0 55.13 2.00

Beta

1.18

0.94

Industrl

93.90 1.98

.

R-Squared

78

87

Technology

. 178.86 1.91 10.9 122.75 1.90 38.0 -2.80 1.71

3 Yr (estimated) 5 Yr (estimated) 10 Yr (estimated)

22.79 25.91

1 1

0.34 0.20

49

Standard Deviation

16.65 23.21

Industrl Industrl Industrl

44 . . . .

Mean

45.21 1.63

.

Sharpe Ratio

1.34

Cnsmr Def Hlth care

. 126.40 1.57 45.20 1.56

Potential Capital Gain Exposure: 33% of assets

InterMune, Inc. Google, Inc. Class A Immunogen, Inc.

.

Morningstar’s Take by David Kathman, CFA 10-24-13 Primecap Odyssey Aggressive Growth is an excellent mid-cap option from the experienced Primecap team. On Oct. 8, 2013, Vanguard announced that Mitch Milias, co-founder of Primecap and comanager of Vanguard Primecap VPMCX and three other funds, will be retiring from portfolio management at the end of the year. The Primecap team also manages this fund, but Milias has never been a comanager here, so his retirement won’t have any direct effect. The managers use essentially the same contrarian growth strategy at this fund that they’ve used for the past 30 years at Vanguard Primecap. They look for stocks with strong long-term growth potential but temporarily depressed valuations, and they’re willing to hold on to those stocks for a while waiting for them to turn around, resulting in low turnover. Within that framework, this is the most aggressive and least corelike of the team’s six funds. While a few giants such as Roche and Google GOOG are prominent here, 73% of the portfolio was in small- and mid-cap stocks as of June 30, 2013, versus 40% in Primecap

Technology 28.7 45.69 1.52

Hlth care

29.02 1.49

.

Odyssey Growth POGRX and 9% in Vanguard Primecap. It’s very heavy in health-care and technology stocks, much like the other funds, but smaller, riskier names such as Pharmacyclics PCYC and Stratasys SSYS play a bigger role here. This more aggressive approach has helped this fund excel over the past couple of years, when smaller, riskier stocks have tended to post the biggest gains. The fund gained 21% and ranked in the mid-cap growth category’s top 5% in 2012, and as of Oct. 22, 2013, its 46% year-to-date return is among the best in the category. This great performance is no fluke; the fund has been one of the top performers in the category since its inception in late 2004, despite occasional periods when it’s badly trailed its peers in the short term. Overall, this is a great fund for investors who are attracted to the Primecap strategy and track record, and are willing to take on more risk than is present in the team’s other funds.

Shutterfly, Inc.

Cnsmr Cyc 103.1 64.51 1.48

Current Investment Style

Sector Weightings

% of Stocks

Rel S&P 500 High

3 Year Low

Market Cap % Giant 9.7 Large 21.0 Mid 30.7 Small 21.8 Micro 16.9 Avg $mil: 5,688

Value Blnd Growth

Large Mid Small

Cyclical 15.62 0.54 BasicMat 0.86 0.28 3 1 CnsmrCyc11.55 1.35 12 5 FinanSvs 3.21 0.20 4 1 Real Est 0.00 0.00 . . Sensitive 49.85 1.14 CommSrvs 0.31 0.08 1 0 Energy 4.19 0.39 6 3 Industrl 14.16 1.25 16 10 Technlgy 31.19 1.78 34 27 Defensive34.53 1.25 CnsmrDef 3.10 0.25 3 1 Hlthcare 31.43 2.66 47 30 Utilities 0.00 0.00 . .

h r t y u j i o p a k s d f

Value Measures Price/Earnings Price/Book Price/Sales Price/Cash Flow Dividend Yield % Long-Term Erngs Book Value Sales Cash Flow Historical Erngs Growth Measures

Rel Category

21.89 2.63 1.54 12.10 0.43 17.52 3.21 1.45 -5.18 -3.54

1.13 0.96 0.91 1.21 0.48 1.23 0.33 0.19 NMF NMF

% Rel Category

Composition - Net

Cash 8.0 Stocks 92.0 Bonds 0.0 Other 0.0 Foreign 14.1

Address:

225 South Lake Avenue, Suite 400 Pasadena, CA 91101 800-729-2307 www.odysseyfunds.com

Minimum Purchase: Min Auto Inv Plan:

$2000 $2000

Add: $150 IRA: $1000

Add: $150

Profitability

% Rel Category

Sales Fees:

No-load

Return on Equity Return on Assets Net Margin

5.03 0.30 4.06

0.29 0.04 0.40

Web Address: Inception: Advisor: Subadvisor: NTF Plans:

Management Fee:

0.60% mx./0.55% mn. Mgt:0.55% Dist: .

(% of Stock)

11-01-04

Actual Fees:

PRIMECAP Management Company

Expense Projections: Income Distribution:

3Yr:$218 Annually

5Yr:$379 10Yr:$847

None

N/A

Mutual Funds ß ®

© 2013Morningstar, Inc.All rights reserved. The information herein is not representedorwarranted to be accurate, correct, complete or timely. Past performance isnoguaranteeof future results.Accessupdated reportsat Toorder reprints, call312-696-6100. mfb.morningstar.com.

EQ