Sep. 18, 2025

VALUE LINE ASSET ALLOCATION FUND INC | Value Line Asset Allocation Fund, Inc.

1. The “Principal investment strategies of the Fund” section in the Prospectus of Value Line Asset Allocation Fund, Inc. and Value Line Capital Appreciation Fund, Inc. is revised to add the following sentence:

The Fund may also gain some of its exposure to debt securities through investment in exchange-traded funds (“ETFs”) and other investment companies investing in debt instruments.

SUPPLEMENT dated September 18, 2025

to the PROSPECTUS

and STATEMENT OF ADDITIONAL INFORMATION 

dated May 1, 2025
of 

Value Line Core Bond Fund

Value Line Asset Allocation Fund, Inc.

Value Line Capital Appreciation Fund, Inc.

Value Line Select Growth Fund, Inc.

Value Line Small Cap Opportunities Fund, Inc.

Value Line Larger Companies Focused Fund, Inc.

Value Line Mid Cap Focused Fund, Inc.

(each, a “Fund”) 

The Prospectus and Statement of Additional Information dated May 1, 2025 are hereby revised as follows with immediate effect: