0000102764 2011-05-01 2011-05-01 0000102764 vallx:S000007572Member vallx:C000020637Member 2011-05-01 2011-05-01 0000102764 rr:AfterTaxesOnDistributionsMember vallx:S000007572Member vallx:C000020637Member 2011-05-01 2011-05-01 0000102764 vallx:S000007572Member 2011-05-01 2011-05-01 0000102764 vallx:S000007572Member vallx:Sp500IndexMember 2011-05-01 2011-05-01 0000102764 rr:AfterTaxesOnDistributionsAndSalesMember vallx:S000007572Member vallx:C000020637Member 2011-05-01 2011-05-01 xbrli:pure iso4217:USD <div><div align="center" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;10pt;font-weight:bold;" >Value Line Larger Companies Fund, Inc.</font></div></div> <div><table cellspacing="0" cellpadding="0" width="100%" style="font-family:times new roman;font-size:10pt;" ><tr><td valign="top" width="100%" colspan="2" align="left" ><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;" ><a name="t69501a002v1" ><font style="font-family:times new roman;font-size:10pt;font-weight:bold;" >Investment objective </font> <font style="font-family:times new roman;font-size:10pt;font-weight:bold;" > </font> </a> </font> </div> </td> </tr> </table> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >The Fund's sole investment objective is to realize capital growth. </font> </div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;" ><a name="t69501a003v1" ><font style="font-family:times new roman;font-size:10pt;font-weight:bold;" >Fees and expenses </font> <font style="font-family:times new roman;font-size:10pt;font-weight:bold;" > </font> </a> </font> </div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. There are no shareholder fees (fees paid directly from your investment). </font> </div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" >Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment ) </font> </div> </div> <div><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" >Example </font> </div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;" >This example is intended to help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" >Portfolio turnover </font> </div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year the Fund's portfolio turnover rate was 153 % of the average value of its portfolio. </font> </div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" ><a name="t69501a004v1" ><font style="font-family:times new roman;font-size:10pt;" >Principal investment strategies of the Fund </font><font style="font-family:times new roman;font-size:10pt;" > </font> </a> </font> </div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >To achieve the Fund's investment objective, EULAV Asset Management (the "Adviser") invests substantially all of the Fund's assets in common stock. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness&#8482; Ranking System (the "Ranking System") in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe consists of stocks of approximately 1,700 companies under review by the Ranking System accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges, including stocks of foreign companies. The Fund's investments usually, as measured by the number and total value of purchases, are selected from common stocks of the 100 largest companies by capitalization that are ranked 1, 2, or 3 by the Ranking System; the Adviser usually sells a stock when its rank falls below 3. In addition to selling a stock when its rank falls below 3, the Adviser may sell securities for other reasons, such as to secure gains, limit losses or redeploy assets into more promising opportunities.</font></div> <br/> <div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >As described above, the Adviser relies primarily on the rankings of companies by the Ranking System in managing the Fund, and the Fund's portfolio will consist primarily of stocks ranked 1, 2, or 3 by the Ranking System. The Adviser has, however, discretion in managing the Fund, including whether and which ranked stocks to include within the Fund's portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund's portfolio. The Adviser will determine the percentage of the Fund's assets invested in each stock based on the stock's relative attractiveness.</font></div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" ><a name="t69501a005v1" ><font style="font-family:times new roman;font-size:10pt;" >Principal risks of investing in the Fund </font><font style="font-family:times new roman;font-size:10pt;" > </font> </a> </font> </div> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment. Therefore, before you invest in this Fund you should carefully evaluate the risks. </font> </div><br/><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >The chief risk that you assume when investing in the Fund is market risk, the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, industry, sector of the economy or the market as a whole. </font> </div><br/><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. There can be no guarantee that the Adviser's investment strategies, including its use of the Ranking System, will produce the desired results. </font> </div><br/><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >Because the Fund uses the Ranking System, there is the risk that securities not covered by the Ranking System or lower rated securities will appreciate to a greater extent than those securities in the Fund's portfolio. </font> </div><br/><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >The price of Fund shares will increase and decrease according to changes in the value of the Fund's investments. The Fund will be affected by changes in stock prices, which have historically tended to fluctuate more than bond prices. </font> </div><br/><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >Investing in foreign companies may involve unique risks compared to investing in securities of U.S. issuers. These risks are more pronounced to the extent the Fund invests in issuers in countries with emerging markets or if the Fund invests significantly in one country. These risks may include: less information about foreign companies may be available due to less rigorous disclosure or accounting standards or regulatory practices; adverse effect of currency exchange rates or controls on the value of the Fund's investment; the economies of foreign countries may grow at slower rates than expected or may experience a downturn or recession. </font> </div><br/><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >The Fund's annual portfolio turnover rate has exceeded 100% in each of the last five years. A rate of portfolio turnover of 100% would occur if all of the Fund's portfolio were replaced in a period of one year. To the extent the Fund engages in short-term trading in attempting to achieve its investment objective, it will increase the Fund's portfolio turnover rate and the Fund will incur higher brokerage commissions and other expenses. </font></div> <br/><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 10.</font></div></div> <div> <table cellspacing="0" cellpadding="0" width="100%" style="font-family:times new roman;font-size:10pt;" > <tr> <td valign="top" width="100%" colspan="2" align="left" > <div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" > <font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" > <a name="t69501a006v1" > <font style="font-family:times new roman;font-size:10pt;" >Fund performance</font></a> </font> </div> </td> </tr> </table> </div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="display:inline;font-family:times new roman;font-size:10pt;" >This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund's shares have varied over the past ten calendar years, and the table below shows the average annual total returns (before and after taxes) of these shares for one, five, and ten years. These returns are compared to the performance of the S&amp;P 500&#174; Index, which is a broad based market index. The Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available at: www.vlfunds.com. </font></div></div> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" >Total returns (before taxes) as of 12/31 each year ( % )</font></div></div> <table> <tr> <td align="left" valign="top"><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Best Quarter:&#160;&#160;&#160;&#160;&#160;&#160;Q4 2001&#160;&#160;&#160;&#160;&#160;&#160;&#160; +13.47%</font></div></td> </tr><tr> <td align="left" valign="top"><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Worst Quarter:&#160;&#160;&#160;Q4 2008&#160;&#160;&#160;&#160;&#160; &#160;&#8211;21.54%</font></div> </td> </tr> </table> <div><div align="left" style="text-indent:0pt;display:block;margin-left:0pt;margin-right:0pt;" ><font style="font-style:italic;display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" >Average Annual Total Returns for Periods Ended December 31, 2010 </font></div></div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;" >After-tax returns in the table below are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> </div> 0.0075 0.0025 0.0021 0.0121 -0.0025 0.0096 98 359 641 1444 -0.1053 -0.2696 0.156 0.0864 0.1028 0.1131 0.1555 -0.3812 0.1762 0.1409 Return before taxes Return after taxes on distributions <div><b>S&amp;P500 &#174; Index (reflects no deduction for fees, expenses or taxes)</b></div> Return after taxes on distributions and sale of Fund shares 0.1409 0.1399 0.1506 0.0929 0.0133 -0.0023 0.0229 0.0051 -0.0034 -0.0216 0.0141 -0.0085 485BPOS 2010-12-31 VALUE LINE LARGER COMPANIES FUND, INC. 0000102764 false VALLX 2011-05-01 2011-05-03 2011-05-01 1.53 <div><font style="display:inline;font-family:times new roman;font-size:10pt;" >To achieve the Fund's investment objective, EULAV Asset Management (the "Adviser") invests substantially all of the Fund's assets in common stock. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness &#8482; Ranking System (the "Ranking System") in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe consists of stocks of approximately 1,700 companies under review by the Ranking System accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges, including stocks of foreign companies. The Fund's investments usually, as measured by the number and total value of purchases, are selected from common stocks of the 100 largest companies by capitalization that are ranked 1, 2, or 3 by the Ranking System; the Adviser usually sells a stock when its rank falls below 3.</font> </div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;" >Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment.</font> </div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;" >An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.</font></div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;" >This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund's shares have varied over the past ten calendar years, and the table below shows the average annual total returns (before and after taxes) of these shares for one, five, and ten years. These returns are compared to the performance of the S&amp;P 500&#174; Index, which is a broad based market index.</font></div> <div>www.vlfunds.com </div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;" >The Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.</font></div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" >Best Quarter: </font></div> 0.1347 2001-12-31 <div><font style="display:inline;font-family:times new roman;font-size:10pt;font-weight:bold;" >Worst Quarter:</font> </div> -0.2154 2008-12-31 <div><b>(reflects no deduction for fees, expenses or taxes)</b></div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;">After-tax returns in the table below are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font></div> <div><font style="display:inline;font-family:times new roman;font-size:10pt;">Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</font> </div> <div style='display: none;'> ~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact vallx_S000007572Member row primary compact * ~ </div> <div style='display: none;'> ~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact vallx_S000007572Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ </div> <div style='display: none;'> ~ http://xbrl.sec.gov/rr/role/BarChartData column dei_LegalEntityAxis compact vallx_S000007572Member row rr_ProspectusShareClassAxis compact vallx_C000020637Member row primary compact * ~ </div> <div style='display: none;'> ~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column dei_LegalEntityAxis compact vallx_S000007572Member row primary compact * ~ </div> Effective March 1, 2011 through April 30, 2012, EULAV Securities LLC (the "Distributor") contractually agreed to waive the Fund's 12b-1 fee in an amount equal to 0.25% of the Fund's average daily net assets. The waiver cannot be terminated before April 30, 2012 without the approval of the Fund's Board of Directors.