UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-07619
Nuveen Investment Trust
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Christopher M. Rohrbacher
Vice President and Secretary
333 West Wacker Drive, Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: August 31
Date of reporting period: February 28, 2019
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss.3507.
Item 1. Reports to Stockholders.
Fund Name | Class A | Class C | Class R3 | Class R6 | Class I |
Nuveen Large Cap Value Fund | NNGAX | NNGCX | NMMTX | NNGFX | NNGRX |
Nuveen Large Cap Core Fund | NLACX | NLCDX | — | NLCFX | NLCIX |
Nuveen Large Cap Growth Fund | NLAGX | NLCGX | — | NLAFX | NLIGX |
Nuveen Equity Long/Short Fund | NELAX | NELCX | — | — | NELIX |
Nuveen Equity Market Neutral Fund | NMAEX | NMECX | — | — | NIMEX |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | 10-Year | ||
Class A Shares at NAV | (8.89)% | (1.44)% | 7.13% | 14.22% | |
Class A Shares at maximum Offering Price | (14.13)% | (7.11)% | 5.87% | 13.55% | |
Russell 1000® Value Index | (1.62)% | 3.16% | 8.09% | 15.39% | |
Lipper Multi-Cap Value Funds Classification Average | (4.26)% | 0.17% | 6.61% | 14.57% | |
Class C Shares | (9.22)% | (2.19)% | 6.32% | 13.37% | |
Class R3 Shares | (9.00)% | (1.67)% | 6.86% | 13.93% | |
Class I Shares | (8.78)% | (1.21)% | 7.39% | 14.50% |
Cumulative | Average Annual | |||
6-Month | 1-Year | Since Inception | ||
Class R6 Shares | (8.77)% | (1.17)% | 11.88% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | 10-Year | ||
Class A Shares at NAV | (9.61)% | (0.64)% | 6.33% | 13.07% | |
Class A Shares at maximum Offering Price | (14.81)% | (6.34)% | 5.08% | 12.40% | |
Class C Shares | (9.95)% | (1.40)% | 5.53% | 12.22% | |
Class R3 Shares | (9.72)% | (0.88)% | 6.06% | 12.78% | |
Class I Shares | (9.46)% | (0.37)% | 6.60% | 13.35% |
Cumulative | Average Annual | |||
6-Month | 1-Year | Since Inception | ||
Class R6 Shares | (9.45)% | (0.33)% | 10.95% |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Gross Expense Ratios | 1.05% | 1.80% | 1.30% | 0.76% | 0.80% |
Net Expense Ratios | 1.00% | 1.75% | 1.25% | 0.71% | 0.75% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | Since Inception | ||
Class A Shares at NAV | (9.99)% | (0.61)% | 9.07% | 11.73% | |
Class A Shares at maximum Offering Price | (15.17)% | (6.32)% | 7.78% | 10.57% | |
Russell 1000® Index | (3.07)% | 4.99% | 10.39% | 11.98% | |
Lipper Multi-Cap Core Funds Classification Average | (4.05)% | 2.51% | 7.71% | 9.73% | |
Class C Shares | (10.35)% | (1.36)% | 8.25% | 10.89% | |
Class I Shares | (9.88)% | (0.36)% | 9.33% | 12.00% |
Cumulative | Average Annual | |||
6-Month | 1-Year | Since Inception | ||
Class R6 Shares | (9.84)% | (0.30)% | 13.56% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | Since Inception | ||
Class A Shares at NAV | (10.44)% | 0.63% | 8.63% | 11.34% | |
Class A Shares at maximum Offering Price | (15.59)% | (5.16)% | 7.35% | 10.21% | |
Class C Shares | (10.75)% | (0.09)% | 7.83% | 10.51% | |
Class I Shares | (10.30)% | 0.91% | 8.91% | 11.62% |
Cumulative | Average Annual | |||
6-Month | 1-Year | Since Inception | ||
Class R6 Shares | (10.29)% | 0.94% | 12.69% |
Share Class | ||||
Class A | Class C | Class R6 | Class I | |
Gross Expense Ratios | 1.01% | 1.76% | 0.71% | 0.76% |
Net Expense Ratios | 0.98% | 1.73% | 0.68% | 0.73% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | Since Inception | ||
Class A Shares at NAV | (8.82)% | 1.08% | 9.68% | 12.34% | |
Class A Shares at maximum Offering Price | (14.07)% | (4.73)% | 8.39% | 11.18% | |
Russell 1000® Growth Index | (4.52)% | 6.62% | 12.63% | 14.50% | |
Lipper Multi-Cap Growth Funds Classification Average | (3.73)% | 6.74% | 9.52% | 12.25% | |
Class C Shares | (9.17)% | 0.33% | 8.86% | 11.50% | |
Class I Shares | (8.73)% | 1.34% | 9.95% | 12.62% |
Cumulative | Average Annual | |||
6-Month | 1-Year | Since Inception | ||
Class R6 Shares | (8.68)% | 1.45% | 15.36% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | Since Inception | ||
Class A Shares at NAV | (7.42)% | 4.63% | 10.08% | 12.34% | |
Class A Shares at maximum Offering Price | (12.74)% | (1.39)% | 8.78% | 11.20% | |
Class C Shares | (7.74)% | 3.88% | 9.27% | 11.50% | |
Class I Shares | (7.29)% | 4.89% | 10.36% | 12.62% |
Cumulative | Average Annual | |||
6-Month | 1-Year | Since Inception | ||
Class R6 Shares | (7.25)% | 5.00% | 15.27% |
Share Class | ||||
Class A | Class C | Class R6 | Class I | |
Gross Expense Ratios | 1.12% | 1.87% | 0.78% | 0.87% |
Net Expense Ratios | 0.99% | 1.74% | 0.65% | 0.74% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | 10-Year | ||
Class A Shares at NAV | (9.02)% | (6.35)% | 6.34% | 11.23% | |
Class A Shares at maximum Offering Price | (14.25)% | (11.73)% | 5.09% | 10.58% | |
Russell 1000® Index | (3.07)% | 4.99% | 10.39% | 16.82% | |
Lipper Alternative Long/Short Equity Funds Classification Average | (3.35)% | (0.64)% | 3.52% | 8.23% | |
Class C Shares | (9.34)% | (7.04)% | 5.55% | 10.39% | |
Class I Shares | (8.92)% | (6.13)% | 6.61% | 11.51% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | 10-Year | ||
Class A Shares at NAV | (10.02)% | (4.29)% | 5.97% | 10.67% | |
Class A Shares at maximum Offering Price | (15.19)% | (9.80)% | 4.72% | 10.02% | |
Class C Shares | (10.34)% | (5.00)% | 5.19% | 9.84% | |
Class I Shares | (9.89)% | (4.04)% | 6.24% | 10.95% |
Share Class | |||
Class A | Class C | Class I | |
Gross Expense Ratios | 2.73% | 3.47% | 2.47% |
Net Expense Ratios | 2.63% | 3.37% | 2.37% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | Since Inception | ||
Class A Shares at NAV | (2.99)% | (3.89)% | 3.30% | 3.96% | |
Class A Shares at maximum Offering Price | (8.56)% | (9.41)% | 2.08% | 2.89% | |
ICE BofAML 3-Month U.S. Treasury Bill Index | 1.10% | 2.04% | 0.70% | 0.62% | |
Lipper Alternative Equity Market Neutral Funds Classification Average | (1.21)% | (1.99)% | 0.91% | 1.49% | |
Class C Shares | (3.32)% | (4.58)% | 2.54% | 3.19% | |
Class I Shares | (2.87)% | (3.64)% | 3.57% | 4.22% |
Cumulative | Average Annual | ||||
6-Month | 1-Year | 5-Year | Since Inception | ||
Class A Shares at NAV | (5.21)% | (4.20)% | 2.78% | 3.57% | |
Class A Shares at maximum Offering Price | (10.66)% | (9.71)% | 1.57% | 2.52% | |
Class C Shares | (5.56)% | (4.92)% | 2.01% | 2.81% | |
Class I Shares | (5.10)% | (3.95)% | 3.04% | 3.84% |
Share Class | |||
Class A | Class C | Class I | |
Gross Expense Ratios | 2.71% | 3.46% | 2.45% |
Net Expense Ratios | 2.55% | 3.30% | 2.29% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.8% |
Repurchase Agreements | 0.8% |
Other Assets Less Liabilities | 0.4% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Oil, Gas & Consumable Fuels | 8.6% |
Diversified Financial Services | 7.6% |
Diversified Telecommunication Services | 5.4% |
Media | 5.1% |
Semiconductors & Semiconductor Equipment | 4.3% |
Insurance | 3.7% |
Machinery | 3.6% |
Health Care Providers & Services | 3.5% |
Road & Rail | 3.4% |
Metals & Mining | 3.3% |
Specialty Retail | 3.2% |
Entertainment | 3.1% |
Consumer Finance | 2.9% |
Food & Staples Retailing | 2.8% |
Communications Equipment | 2.8% |
Airlines | 2.8% |
Multiline Retail | 2.4% |
Technology Hardware, Storage & Peripherals | 2.3% |
Electrical Equipment | 2.1% |
Biotechnology | 2.1% |
Household Durables | 2.0% |
Chemicals | 2.0% |
Other | 19.8% |
Repurchase Agreements | 0.8% |
Other Assets Less Liabilities | 0.4% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Bank of America Corp | 3.1% |
Cisco Systems Inc. | 2.8% |
AT&T Inc. | 2.7% |
Comcast Corp | 2.4% |
Citigroup Inc. | 2.2% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.7% |
Repurchase Agreements | 0.2% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Health Care Providers & Services | 7.2% |
Oil, Gas & Consumable Fuels | 6.9% |
Specialty Retail | 5.8% |
Biotechnology | 4.8% |
Software | 4.3% |
Machinery | 4.3% |
Interactive Media & Services | 4.2% |
Technology Hardware, Storage & Peripherals | 3.9% |
IT Services | 3.8% |
Diversified Financial Services | 3.7% |
Internet & Direct Marketing Retail | 3.6% |
Media | 3.6% |
Semiconductors & Semiconductor Equipment | 3.3% |
Airlines | 2.8% |
Multiline Retail | 2.7% |
Road & Rail | 2.4% |
Food & Staples Retailing | 2.3% |
Metals & Mining | 2.1% |
Insurance | 2.1% |
Electrical Equipment | 2.0% |
Chemicals | 2.0% |
Entertainment | 2.0% |
Other | 19.9% |
Repurchase Agreements | 0.2% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Microsoft Corp | 2.3% |
Apple Inc. | 2.2% |
UnitedHealth Group Inc. | 1.8% |
Mastercard Inc. | 1.8% |
Comcast Corp | 1.7% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.2% |
Repurchase Agreements | 0.7% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Specialty Retail | 9.1% |
Software | 8.6% |
Interactive Media & Services | 7.6% |
Biotechnology | 7.6% |
Health Care Providers & Services | 7.2% |
Technology Hardware, Storage & Peripherals | 6.4% |
Internet & Direct Marketing Retail | 5.4% |
IT Services | 4.7% |
Road & Rail | 4.3% |
Semiconductors & Semiconductor Equipment | 4.1% |
Hotels, Restaurants & Leisure | 3.4% |
Capital Markets | 3.3% |
Media | 3.3% |
Oil, Gas & Consumable Fuels | 2.5% |
Machinery | 2.2% |
Other | 19.5% |
Repurchase Agreements | 0.7% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Apple Inc. | 4.7% |
Microsoft Corp | 4.2% |
Alphabet Inc. | 3.5% |
Amazon.com Inc. | 3.2% |
UnitedHealth Group Inc. | 2.8% |
Fund Allocation (% of net assets) | |
Long-Term Investments | |
Common Stocks | 138.8% |
Total Long Exposure | 138.8% |
Short-Term Investments | |
Repurchase Agreements | 7.7% |
Total Investments | 146.5% |
Securities Sold Short | |
Common Stocks Sold Short | (67.1)% |
Total Short Exposure | (67.1)% |
Other Assets Less Liabilities | 20.6% |
Net Assets | 100% |
Top Five Holdings - Long Exposure (% of net assets) | |
Microsoft Corp | 2.8% |
Apple Inc. | 2.7% |
Bank of America Corp | 1.9% |
Cisco Systems Inc. | 1.8% |
Mastercard Inc. | 1.7% |
Top Five Holdings - Short Exposure (% of net assets) | |
The Hain Celestial Group Inc. | (0.8)% |
RealPage Inc. | (0.8)% |
Agios Pharmaceuticals Inc. | (0.8)% |
Teleflex Inc. | (0.8)% |
SAGE Therapeutics Inc. | (0.8)% |
Portfolio Composition Long Exposure (% of net assets) | |
Health Care Providers & Services | 9.3% |
Specialty Retail | 8.5% |
Oil, Gas & Consumable Fuels | 8.0% |
Software | 7.5% |
Biotechnology | 6.6% |
Media | 5.6% |
Machinery | 5.5% |
Road & Rail | 5.1% |
Diversified Financial Services | 4.6% |
Technology Hardware, Storage & Peripherals | 4.5% |
Semiconductors & Semiconductor Equipment | 4.3% |
IT Services | 4.0% |
Airlines | 3.5% |
Capital Markets | 3.4% |
Entertainment | 3.3% |
Interactive Media & Services | 3.3% |
Chemicals | 3.3% |
Hotels, Restaurants & Leisure | 3.2% |
Internet & Direct Marketing Retail | 3.1% |
Food & Staples Retailing | 2.5% |
Multiline Retail | 2.4% |
Metals & Mining | 2.4% |
Real Estate Management & Development | 2.3% |
Independent Power & Renewable Electricity Producers | 2.2% |
Electrical Equipment | 2.2% |
Commercial Services & Supplies | 2.1% |
Communications Equipment | 1.8% |
Pharmaceuticals | 1.7% |
Aerospace & Defense | 1.5% |
Tobacco | 1.5% |
Other | 19.6% |
Total | 138.8% |
Portfolio Composition Short Exposure (% of net assets) | |
Food Products | (4.5)% |
Health Care Equipment & Supplies | (4.4)% |
Software | (4.4)% |
Biotechnology | (4.3)% |
Semiconductors & Semiconductor Equipment | (3.6)% |
Aerospace & Defense | (3.5)% |
Hotels, Restaurants & Leisure | (3.4)% |
Chemicals | (2.9)% |
Electronic Equipment, Instruments & Components | (2.8)% |
Energy Equipment & Services | (2.2)% |
Multi-Utilities | (2.2)% |
Professional Services | (2.0)% |
Entertainment | (1.9)% |
Specialty Retail | (1.5)% |
Machinery | (1.5)% |
Containers & Packaging | (1.4)% |
Insurance | (1.4)% |
Other | (19.2)% |
Total | (67.1)% |
Fund Allocation (% of net assets) | |
Long-Term Investments | |
Common Stocks | 70.8% |
Total Long Exposure | 70.8% |
Short-Term Investments | |
Repurchase Agreements | 29.0% |
Total Investments | 99.8% |
Securities Sold Short | |
Common Stocks Sold Short | (58.5)% |
Total Short Exposure | (58.5)% |
Other Assets Less Liabilities | 58.7% |
Net Assets | 100% |
Top Five Holdings - Long Exposure (% of net assets) | |
Arcosa Inc. | 1.2% |
Southwest Airlines Co | 1.1% |
Zynga Inc. | 1.1% |
Range Resources Corp | 1.1% |
AGCO Corp | 1.1% |
Top Five Holdings - Short Exposure (% of net assets) | |
The Hain Celestial Group Inc. | (1.0)% |
BWX Technologies Inc. | (1.0)% |
Tiffany & Co | (1.0)% |
Bluebird Bio Inc. | (1.0)% |
Worldpay Inc. | (1.0)% |
Portfolio Composition Long Exposure (% of net assets) | |
Health Care Providers & Services | 4.9% |
Oil, Gas & Consumable Fuels | 4.8% |
Machinery | 4.2% |
Media | 3.3% |
Semiconductors & Semiconductor Equipment | 3.2% |
Interactive Media & Services | 3.2% |
Airlines | 3.1% |
Biotechnology | 2.8% |
Specialty Retail | 2.7% |
Entertainment | 2.4% |
IT Services | 2.3% |
Road & Rail | 2.2% |
Chemicals | 1.9% |
Consumer Finance | 1.9% |
Electrical Equipment | 1.8% |
Software | 1.8% |
Hotels, Restaurants & Leisure | 1.8% |
Metals & Mining | 1.8% |
Wireless Telecommunication Services | 1.8% |
Other | 18.9% |
Total | 70.8% |
Portfolio Composition Short Exposure (% of net assets) | |
Biotechnology | (4.6)% |
Aerospace & Defense | (4.5)% |
Health Care Equipment & Supplies | (4.4)% |
Software | (4.1)% |
Semiconductors & Semiconductor Equipment | (3.8)% |
Food Products | (3.5)% |
Chemicals | (2.9)% |
Electronic Equipment, Instruments & Components | (2.8)% |
Entertainment | (2.1)% |
Specialty Retail | (2.0)% |
Hotels, Restaurants & Leisure | (1.9)% |
Insurance | (1.8)% |
Energy Equipment & Services | (1.7)% |
Other | (18.4)% |
Total | (58.5)% |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $911.10 | $907.80 | $910.00 | $912.30 | $912.20 |
Expenses Incurred During the Period | $4.74 | $8.28 | $5.92 | $3.27 | $3.56 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.84 | $1,016.12 | $1,018.60 | $1,021.37 | $1,021.08 |
Expenses Incurred During the Period | $5.01 | $8.75 | $6.26 | $3.46 | $3.76 |
Share Class | ||||
Class A | Class C | Class R6 | Class I | |
Actual Performance | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $900.10 | $896.50 | $901.60 | $901.20 |
Expenses Incurred During the Period | $4.62 | $8.13 | $3.11 | $3.44 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.93 | $1,016.22 | $1,021.52 | $1,021.17 |
Expenses Incurred During the Period | $4.91 | $8.65 | $3.31 | $3.66 |
Share Class | ||||
Class A | Class C | Class R6 | Class I | |
Actual Performance | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $911.80 | $908.30 | $913.20 | $912.70 |
Expenses Incurred During the Period | $4.69 | $8.23 | $3.08 | $3.51 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.89 | $1,016.17 | $1,021.57 | $1,021.12 |
Expenses Incurred During the Period | $4.96 | $8.70 | $3.26 | $3.71 |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $909.80 | $906.60 | $910.80 |
Expenses Incurred During the Period | $12.03 | $15.55 | $10.85 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,012.20 | $1,008.48 | $1,013.44 |
Expenses Incurred During the Period | $12.67 | $16.38 | $11.43 |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $970.10 | $966.80 | $971.30 |
Expenses Incurred During the Period | $11.09 | $14.82 | $10.02 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,013.54 | $1,009.72 | $1,014.63 |
Expenses Incurred During the Period | $11.33 | $15.15 | $10.24 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.8% | ||||||
COMMON STOCKS – 98.8% | ||||||
Airlines – 2.8% | ||||||
36,000 | Alaska Air Group Inc. | $2,221,200 | ||||
88,000 | Southwest Airlines Co | 4,931,520 | ||||
59,000 | United Continental Holdings Inc., (2) | 5,180,790 | ||||
Total Airlines | 12,333,510 | |||||
Auto Components – 1.1% | ||||||
240,000 | Goodyear Tire & Rubber Co/The | 4,747,200 | ||||
Automobiles – 1.4% | ||||||
158,000 | General Motors Co | 6,237,840 | ||||
Banks – 1.7% | ||||||
85,000 | Popular Inc. | 4,792,300 | ||||
57,000 | Wells Fargo & Co | 2,843,730 | ||||
Total Banks | 7,636,030 | |||||
Biotechnology – 2.1% | ||||||
24,000 | Amgen Inc. | 4,561,920 | ||||
14,000 | Biogen Inc., (2) | 4,592,140 | ||||
Total Biotechnology | 9,154,060 | |||||
Capital Markets – 1.2% | ||||||
39,000 | Ameriprise Financial Inc. | 5,133,570 | ||||
Chemicals – 2.0% | ||||||
57,000 | LyondellBasell Industries NV | 4,874,640 | ||||
59,000 | Westlake Chemical Corp | 4,122,330 | ||||
Total Chemicals | 8,996,970 | |||||
Commercial Services & Supplies – 0.9% | ||||||
82,000 | KAR Auction Services Inc. | 3,866,300 | ||||
Communications Equipment – 2.8% | ||||||
240,000 | Cisco Systems Inc. | 12,424,800 | ||||
Construction & Engineering – 0.7% | ||||||
101,000 | AECOM, (2) | 3,126,960 | ||||
Consumer Finance – 2.9% | ||||||
8,000 | Credit Acceptance Corp, (2) | 3,518,880 | ||||
357,000 | Navient Corp | 4,362,540 |
Shares | Description (1) | Value | ||||
Consumer Finance (continued) | ||||||
156,000 | Synchrony Financial | $5,087,160 | ||||
Total Consumer Finance | 12,968,580 | |||||
Containers & Packaging – 1.1% | ||||||
107,000 | International Paper Co | 4,902,740 | ||||
Diversified Consumer Services – 1.0% | ||||||
191,000 | H&R Block Inc. | 4,612,650 | ||||
Diversified Financial Services – 7.6% | ||||||
470,000 | Bank of America Corp | 13,667,600 | ||||
14,000 | Berkshire Hathaway Inc., (2) | 2,818,200 | ||||
153,000 | Citigroup Inc. | 9,788,940 | ||||
72,000 | JPMorgan Chase & Co | 7,513,920 | ||||
Total Diversified Financial Services | 33,788,660 | |||||
Diversified Telecommunication Services – 5.4% | ||||||
380,000 | AT&T Inc. | 11,825,600 | ||||
371,000 | CenturyLink Inc. | 4,893,490 | ||||
237,026 | Frontier Communications Corp | 722,929 | ||||
115,000 | Verizon Communications Inc. | 6,545,800 | ||||
Total Diversified Telecommunication Services | 23,987,819 | |||||
Electrical Equipment – 2.1% | ||||||
36,000 | Acuity Brands Inc. | 4,684,320 | ||||
54,000 | Regal Beloit Corp | 4,523,040 | ||||
Total Electrical Equipment | 9,207,360 | |||||
Electronic Equipment, Instruments & Components – 1.1% | ||||||
172,000 | Jabil Inc. | 4,884,800 | ||||
Entertainment – 3.1% | ||||||
109,000 | Cinemark Holdings Inc. | 4,101,670 | ||||
167,000 | Viacom Inc. | 4,879,740 | ||||
887,000 | Zynga Inc., (2) | 4,630,140 | ||||
Total Entertainment | 13,611,550 | |||||
Food & Staples Retailing – 2.8% | ||||||
185,000 | Kroger Co/The | 5,426,050 | ||||
90,000 | Walgreens Boots Alliance Inc. | 6,407,100 | ||||
6,000 | Walmart Inc. | 593,940 | ||||
Total Food & Staples Retailing | 12,427,090 | |||||
Health Care Providers & Services – 3.5% | ||||||
4,900 | AmerisourceBergen Corp | 408,170 | ||||
93,000 | Cardinal Health Inc. | 5,053,620 | ||||
36,000 | HCA Inc. | 5,005,440 |
Shares | Description (1) | Value | ||||
Health Care Providers & Services (continued) | ||||||
42,000 | McKesson Corp | $5,340,720 | ||||
Total Health Care Providers & Services | 15,807,950 | |||||
Household Durables – 2.0% | ||||||
150,000 | PulteGroup Inc. | 4,050,000 | ||||
35,000 | Whirlpool Corp | 4,952,850 | ||||
Total Household Durables | 9,002,850 | |||||
Independent Power & Renewable Electricity Producers – 0.6% | ||||||
162,000 | AES Corp/VA | 2,791,260 | ||||
Insurance – 3.7% | ||||||
118,000 | Aflac Inc. | 5,798,520 | ||||
81,000 | Lincoln National Corp | 5,064,120 | ||||
126,000 | MetLife Inc. | 5,693,940 | ||||
Total Insurance | 16,556,580 | |||||
Internet & Direct Marketing Retail – 1.2% | ||||||
146,000 | eBay Inc. | 5,423,900 | ||||
IT Services – 1.1% | ||||||
84,000 | Booz Allen Hamilton Holding Corp | 4,440,240 | ||||
2,800 | Mastercard Inc. | 629,356 | ||||
Total IT Services | 5,069,596 | |||||
Machinery – 3.6% | ||||||
72,000 | AGCO Corp | 4,865,760 | ||||
34,000 | Cummins Inc. | 5,239,060 | ||||
80,000 | PACCAR Inc. | 5,424,000 | ||||
13,000 | Timken Co/The | 564,070 | ||||
Total Machinery | 16,092,890 | |||||
Media – 5.1% | ||||||
281,000 | Comcast Corp | 10,866,270 | ||||
151,000 | DISH Network Corp, (2) | 4,909,010 | ||||
193,900 | Gannett Co Inc. | 2,276,386 | ||||
61,000 | Omnicom Group Inc. | 4,617,700 | ||||
Total Media | 22,669,366 | |||||
Metals & Mining – 3.3% | ||||||
87,000 | Nucor Corp | 5,269,590 | ||||
51,000 | Reliance Steel & Aluminum Co | 4,551,750 | ||||
129,000 | Steel Dynamics Inc. | 4,814,280 | ||||
Total Metals & Mining | 14,635,620 | |||||
Mortgage Real Estate Investment Trust – 0.5% | ||||||
128,000 | Chimera Investment Corp | 2,366,720 |
Shares | Description (1) | Value | ||||
Multiline Retail – 2.4% | ||||||
74,000 | Kohl's Corp | $4,997,220 | ||||
79,000 | Target Corp | 5,738,560 | ||||
Total Multiline Retail | 10,735,780 | |||||
Oil, Gas & Consumable Fuels – 8.6% | ||||||
298,000 | Antero Resources Corp, (2) | 2,580,680 | ||||
102,000 | CONSOL Energy Inc., (2) | 3,870,900 | ||||
252,000 | EQT Corp | 4,566,240 | ||||
932,000 | Extraction Oil & Gas Inc., (2) | 3,914,400 | ||||
32,000 | Exxon Mobil Corp | 2,528,960 | ||||
378,000 | Gulfport Energy Corp, (2) | 2,895,480 | ||||
91,000 | Marathon Petroleum Corp | 5,642,910 | ||||
226,000 | Parsley Energy Inc., (2) | 4,099,640 | ||||
435,000 | Range Resources Corp | 4,654,500 | ||||
229,000 | SM Energy Co | 3,741,860 | ||||
Total Oil, Gas & Consumable Fuels | 38,495,570 | |||||
Paper & Forest Products – 1.0% | ||||||
87,000 | Domtar Corp | 4,429,170 | ||||
Personal Products – 1.0% | ||||||
82,000 | Herbalife Nutrition Ltd | 4,600,200 | ||||
Pharmaceuticals – 0.8% | ||||||
10,000 | Johnson & Johnson | 1,366,400 | ||||
28,000 | Merck & Co Inc. | 2,276,120 | ||||
Total Pharmaceuticals | 3,642,520 | |||||
Real Estate Management & Development – 1.1% | ||||||
95,000 | CBRE Group Inc., (2) | 4,727,200 | ||||
Road & Rail – 3.4% | ||||||
81,000 | CSX Corp | 5,886,270 | ||||
55,000 | Genesee & Wyoming Inc., (2) | 4,510,000 | ||||
28,000 | Union Pacific Corp | 4,695,600 | ||||
Total Road & Rail | 15,091,870 | |||||
Semiconductors & Semiconductor Equipment – 4.3% | ||||||
167,000 | Intel Corp | 8,844,320 | ||||
116,000 | Micron Technology Inc., (2) | 4,742,080 | ||||
61,000 | NXP Semiconductors NV | 5,570,520 | ||||
Total Semiconductors & Semiconductor Equipment | 19,156,920 | |||||
Software – 0.3% | ||||||
8,000 | VMware Inc., (2) | 1,374,480 |
Shares | Description (1) | Value | ||||
Specialty Retail – 3.2% | ||||||
5,000 | AutoZone Inc., (2) | $4,694,850 | ||||
8,000 | Dick's Sporting Goods Inc. | 312,480 | ||||
84,000 | Foot Locker Inc. | 4,999,680 | ||||
55,000 | Murphy USA Inc., (2) | 4,277,350 | ||||
Total Specialty Retail | 14,284,360 | |||||
Technology Hardware, Storage & Peripherals – 2.3% | ||||||
334,000 | Hewlett Packard Enterprise Co | 5,470,920 | ||||
252,000 | HP Inc. | 4,971,960 | ||||
Total Technology Hardware, Storage & Peripherals | 10,442,880 | |||||
Trading Companies & Distributors – 1.0% | ||||||
85,000 | WESCO International Inc., (2) | 4,628,250 | ||||
Wireless Telecommunication Services – 1.0% | ||||||
143,000 | Telephone & Data Systems Inc. | 4,583,150 | ||||
Total Long-Term Investments (cost $427,751,861) | 440,657,571 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 0.8% | ||||||
REPURCHASE AGREEMENTS – 0.8% | ||||||
$3,562 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/19, repurchase price $3,562,095, collateralized by $3,670,000 U.S. Treasury Notes, 2.000%, due 12/31/21, value $3,634,801 | 1.200% | 3/01/19 | $3,561,976 | ||
Total Short-Term Investments (cost $3,561,976) | 3,561,976 | |||||
Total Investments (cost $431,313,837) – 99.6% | 444,219,547 | |||||
Other Assets Less Liabilities – 0.4% | 1,872,228 | |||||
Net Assets – 100% | $446,091,775 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.7% | ||||||
COMMON STOCKS – 99.7% | ||||||
Airlines – 2.8% | ||||||
91,000 | Alaska Air Group Inc. | $5,614,700 | ||||
206,000 | Southwest Airlines Co | 11,544,240 | ||||
123,000 | United Continental Holdings Inc., (2) | 10,800,630 | ||||
Total Airlines | 27,959,570 | |||||
Auto Components – 1.0% | ||||||
524,000 | Goodyear Tire & Rubber Co/The | 10,364,720 | ||||
Automobiles – 1.2% | ||||||
304,000 | General Motors Co | 12,001,920 | ||||
Biotechnology – 4.8% | ||||||
183,000 | AbbVie Inc. | 14,500,920 | ||||
48,000 | Amgen Inc. | 9,123,840 | ||||
39,000 | Biogen Inc., (2) | 12,792,390 | ||||
130,000 | Celgene Corp, (2) | 10,805,600 | ||||
Total Biotechnology | 47,222,750 | |||||
Capital Markets – 1.3% | ||||||
34,000 | Evercore Inc. | 3,131,400 | ||||
133,000 | LPL Financial Holdings Inc. | 10,029,530 | ||||
Total Capital Markets | 13,160,930 | |||||
Chemicals – 2.0% | ||||||
123,000 | LyondellBasell Industries NV | 10,518,960 | ||||
130,000 | Westlake Chemical Corp | 9,083,100 | ||||
Total Chemicals | 19,602,060 | |||||
Commercial Services & Supplies – 0.9% | ||||||
186,000 | KAR Auction Services Inc. | 8,769,900 | ||||
Communications Equipment – 1.5% | ||||||
278,000 | Cisco Systems Inc. | 14,392,060 | ||||
Construction & Engineering – 0.3% | ||||||
99,000 | Arcosa Inc. | 3,315,510 | ||||
Consumer Finance – 0.9% | ||||||
2,000 | Credit Acceptance Corp, (2) | 879,720 | ||||
626,000 | Navient Corp | 7,649,720 | ||||
Total Consumer Finance | 8,529,440 |
Shares | Description (1) | Value | ||||
Diversified Consumer Services – 1.0% | ||||||
419,000 | H&R Block Inc. | $10,118,850 | ||||
Diversified Financial Services – 3.7% | ||||||
392,000 | Bank of America Corp | 11,399,360 | ||||
29,000 | Berkshire Hathaway Inc., (2) | 5,837,700 | ||||
231,000 | Citigroup Inc. | 14,779,380 | ||||
39,000 | JPMorgan Chase & Co | 4,070,040 | ||||
Total Diversified Financial Services | 36,086,480 | |||||
Diversified Telecommunication Services – 1.6% | ||||||
205,000 | AT&T Inc. | 6,379,600 | ||||
677,000 | CenturyLink Inc. | 8,929,630 | ||||
Total Diversified Telecommunication Services | 15,309,230 | |||||
Electrical Equipment – 2.0% | ||||||
75,000 | Acuity Brands Inc. | 9,759,000 | ||||
120,000 | Regal Beloit Corp | 10,051,200 | ||||
Total Electrical Equipment | 19,810,200 | |||||
Electronic Equipment, Instruments & Components – 1.1% | ||||||
375,000 | Jabil Inc. | 10,650,000 | ||||
Entertainment – 2.0% | ||||||
307,000 | Viacom Inc. | 8,970,540 | ||||
2,028,000 | Zynga Inc., (2) | 10,586,160 | ||||
Total Entertainment | 19,556,700 | |||||
Food & Staples Retailing – 2.3% | ||||||
381,000 | Kroger Co/The | 11,174,730 | ||||
168,000 | Walgreens Boots Alliance Inc. | 11,959,920 | ||||
Total Food & Staples Retailing | 23,134,650 | |||||
Health Care Providers & Services – 7.2% | ||||||
129,000 | AmerisourceBergen Corp | 10,745,700 | ||||
197,000 | Cardinal Health Inc. | 10,704,980 | ||||
144,000 | Encompass Health Corp | 9,092,160 | ||||
81,000 | HCA Inc. | 11,262,240 | ||||
86,000 | McKesson Corp | 10,935,760 | ||||
74,000 | UnitedHealth Group Inc. | 17,924,280 | ||||
Total Health Care Providers & Services | 70,665,120 | |||||
Hotels, Restaurants & Leisure – 1.4% | ||||||
193,000 | Starbucks Corp | 13,560,180 | ||||
Household Durables – 0.3% | ||||||
24,000 | Whirlpool Corp | 3,396,240 |
Shares | Description (1) | Value | ||||
Insurance – 2.1% | ||||||
158,000 | Lincoln National Corp | $9,878,160 | ||||
235,000 | MetLife Inc. | 10,619,650 | ||||
Total Insurance | 20,497,810 | |||||
Interactive Media & Services – 4.2% | ||||||
14,000 | Alphabet Inc., (2) | 15,771,700 | ||||
34,000 | Facebook Inc., (2) | 5,489,300 | ||||
49,000 | IAC/InterActiveCorp | 10,439,450 | ||||
191,000 | TripAdvisor Inc., (2) | 10,155,470 | ||||
Total Interactive Media & Services | 41,855,920 | |||||
Internet & Direct Marketing Retail – 3.6% | ||||||
10,000 | Amazon.com Inc., (2) | 16,398,300 | ||||
247,000 | eBay Inc. | 9,176,050 | ||||
84,000 | Expedia Group Inc. | 10,358,040 | ||||
Total Internet & Direct Marketing Retail | 35,932,390 | |||||
IT Services – 3.8% | ||||||
193,000 | Booz Allen Hamilton Holding Corp | 10,201,980 | ||||
92,000 | Broadridge Financial Solutions Inc. | 9,315,000 | ||||
79,000 | Mastercard Inc. | 17,756,830 | ||||
Total IT Services | 37,273,810 | |||||
Machinery – 4.3% | ||||||
158,000 | AGCO Corp | 10,677,640 | ||||
210,000 | Allison Transmission Holdings Inc. | 10,437,000 | ||||
71,000 | Cummins Inc. | 10,940,390 | ||||
128,000 | PACCAR Inc. | 8,678,400 | ||||
42,000 | Timken Co/The | 1,822,380 | ||||
Total Machinery | 42,555,810 | |||||
Media – 3.6% | ||||||
162,000 | AMC Networks Inc., (2) | 10,645,020 | ||||
438,000 | Comcast Corp | 16,937,460 | ||||
218,000 | Gannett Co Inc. | 2,559,320 | ||||
69,000 | Omnicom Group Inc. | 5,223,300 | ||||
Total Media | 35,365,100 | |||||
Metals & Mining – 2.1% | ||||||
177,000 | Nucor Corp | 10,720,890 | ||||
281,000 | Steel Dynamics Inc. | 10,486,920 | ||||
Total Metals & Mining | 21,207,810 | |||||
Mortgage Real Estate Investment Trust – 0.3% | ||||||
135,000 | Chimera Investment Corp | 2,496,150 |
Shares | Description (1) | Value | ||||
Multiline Retail – 2.7% | ||||||
157,000 | Kohl's Corp | $10,602,210 | ||||
137,000 | Nordstrom Inc. | 6,477,360 | ||||
130,000 | Target Corp | 9,443,200 | ||||
Total Multiline Retail | 26,522,770 | |||||
Oil, Gas & Consumable Fuels – 6.9% | ||||||
145,000 | CONSOL Energy Inc., (2) | 5,502,750 | ||||
551,000 | EQT Corp | 9,984,120 | ||||
1,872,000 | Extraction Oil & Gas Inc., (2) | 7,862,400 | ||||
40,000 | Exxon Mobil Corp | 3,161,200 | ||||
523,000 | Gulfport Energy Corp, (2) | 4,006,180 | ||||
170,000 | Marathon Petroleum Corp | 10,541,700 | ||||
481,000 | Parsley Energy Inc., (2) | 8,725,340 | ||||
977,000 | Range Resources Corp | 10,453,900 | ||||
457,000 | SM Energy Co | 7,467,380 | ||||
Total Oil, Gas & Consumable Fuels | 67,704,970 | |||||
Paper & Forest Products – 0.7% | ||||||
134,000 | Domtar Corp | 6,821,940 | ||||
Personal Products – 1.0% | ||||||
181,000 | Herbalife Nutrition Ltd | 10,154,100 | ||||
Pharmaceuticals – 0.4% | ||||||
31,000 | Johnson & Johnson | 4,235,840 | ||||
Real Estate Management & Development – 1.1% | ||||||
211,000 | CBRE Group Inc., (2) | 10,499,360 | ||||
Road & Rail – 2.4% | ||||||
122,000 | Genesee & Wyoming Inc., (2) | 10,004,000 | ||||
83,000 | Union Pacific Corp | 13,919,100 | ||||
Total Road & Rail | 23,923,100 | |||||
Semiconductors & Semiconductor Equipment – 3.3% | ||||||
47,000 | Lam Research Corp | 8,276,230 | ||||
283,000 | Micron Technology Inc., (2) | 11,569,040 | ||||
123,000 | NXP Semiconductors NV | 11,232,360 | ||||
93,000 | ON Semiconductor Corp, (2) | 1,997,640 | ||||
Total Semiconductors & Semiconductor Equipment | 33,075,270 | |||||
Software – 4.3% | ||||||
91,000 | Citrix Systems Inc. | 9,600,500 | ||||
201,000 | Microsoft Corp | 22,518,030 | ||||
62,000 | VMware Inc., (2) | 10,652,220 | ||||
Total Software | 42,770,750 |
Shares | Description (1) | Value | ||||
Specialty Retail – 5.8% | ||||||
12,000 | AutoZone Inc., (2) | $11,267,640 | ||||
53,000 | Burlington Stores Inc., (2) | 8,996,220 | ||||
181,000 | Foot Locker Inc. | 10,773,120 | ||||
88,000 | Murphy USA Inc., (2) | 6,843,760 | ||||
113,000 | Ross Stores Inc. | 10,715,790 | ||||
160,000 | TJX Cos Inc/The | 8,206,400 | ||||
Total Specialty Retail | 56,802,930 | |||||
Technology Hardware, Storage & Peripherals – 3.9% | ||||||
125,000 | Apple Inc. | 21,643,750 | ||||
420,000 | Hewlett Packard Enterprise Co | 6,879,600 | ||||
383,000 | HP Inc. | 7,556,590 | ||||
34,000 | NetApp Inc. | 2,216,800 | ||||
Total Technology Hardware, Storage & Peripherals | 38,296,740 | |||||
Tobacco – 1.5% | ||||||
276,000 | Altria Group Inc. | 14,465,160 | ||||
Trading Companies & Distributors – 1.0% | ||||||
187,000 | WESCO International Inc., (2) | 10,182,150 | ||||
Wireless Telecommunication Services – 1.4% | ||||||
316,000 | Telephone & Data Systems Inc. | 10,127,800 | ||||
88,000 | United States Cellular Corp, (2) | 4,108,720 | ||||
Total Wireless Telecommunication Services | 14,236,520 | |||||
Total Long-Term Investments (cost $926,687,073) | 984,482,910 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 0.2% | ||||||
REPURCHASE AGREEMENTS – 0.2% | ||||||
$2,142 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/19, repurchase price $2,141,818, collateralized by $2,165,000 U.S. Treasury Notes, 2.625%, due 12/15/21, value $2,184,847 | 1.200% | 3/01/19 | $2,141,747 | ||
Total Short-Term Investments (cost $2,141,747) | 2,141,747 | |||||
Total Investments (cost $928,828,820) – 99.9% | 986,624,657 | |||||
Other Assets Less Liabilities – 0.1% | 990,210 | |||||
Net Assets – 100% | $987,614,867 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.2% | ||||||
COMMON STOCKS – 99.2% | ||||||
Aerospace & Defense – 0.7% | ||||||
6,000 | Boeing Co/The | $2,639,760 | ||||
Airlines – 1.2% | ||||||
77,000 | Southwest Airlines Co | 4,315,080 | ||||
Biotechnology – 7.6% | ||||||
88,000 | AbbVie Inc. | 6,973,120 | ||||
35,000 | Amgen Inc. | 6,652,800 | ||||
17,000 | Biogen Inc., (2) | 5,576,170 | ||||
62,000 | Celgene Corp, (2) | 5,153,440 | ||||
41,000 | Gilead Sciences Inc. | 2,665,820 | ||||
Total Biotechnology | 27,021,350 | |||||
Building Products – 1.0% | ||||||
51,000 | Armstrong World Industries Inc. | 3,732,180 | ||||
Capital Markets – 3.3% | ||||||
29,000 | Ameriprise Financial Inc. | 3,817,270 | ||||
40,000 | Evercore Inc. | 3,684,000 | ||||
50,000 | LPL Financial Holdings Inc. | 3,770,500 | ||||
11,000 | TD Ameritrade Holding Corp | 619,630 | ||||
Total Capital Markets | 11,891,400 | |||||
Chemicals – 2.0% | ||||||
46,000 | LyondellBasell Industries NV | 3,933,920 | ||||
45,000 | Westlake Chemical Corp | 3,144,150 | ||||
Total Chemicals | 7,078,070 | |||||
Commercial Services & Supplies – 1.0% | ||||||
73,000 | KAR Auction Services Inc. | 3,441,950 | ||||
Consumer Finance – 1.1% | ||||||
9,000 | Credit Acceptance Corp, (2) | 3,958,740 | ||||
Containers & Packaging – 1.0% | ||||||
80,000 | International Paper Co | 3,665,600 | ||||
Diversified Consumer Services – 1.0% | ||||||
153,000 | H&R Block Inc. | 3,694,950 |
Shares | Description (1) | Value | ||||
Electronic Equipment, Instruments & Components – 0.2% | ||||||
26,000 | Jabil Inc. | $738,400 | ||||
Food & Staples Retailing – 1.7% | ||||||
94,000 | Kroger Co/The | 2,757,020 | ||||
47,000 | Walgreens Boots Alliance Inc. | 3,345,930 | ||||
Total Food & Staples Retailing | 6,102,950 | |||||
Health Care Providers & Services – 7.2% | ||||||
47,000 | AmerisourceBergen Corp | 3,915,100 | ||||
7,551 | Cardinal Health Inc. | 410,321 | ||||
56,000 | Encompass Health Corp | 3,535,840 | ||||
31,000 | HCA Inc. | 4,310,240 | ||||
29,000 | McKesson Corp | 3,687,640 | ||||
41,000 | UnitedHealth Group Inc. | 9,931,020 | ||||
Total Health Care Providers & Services | 25,790,161 | |||||
Hotels, Restaurants & Leisure – 3.4% | ||||||
37,000 | Hyatt Hotels Corp | 2,692,490 | ||||
85,000 | Starbucks Corp | 5,972,100 | ||||
207,000 | Wendy's Co/The | 3,587,310 | ||||
Total Hotels, Restaurants & Leisure | 12,251,900 | |||||
Household Durables – 0.7% | ||||||
89,000 | PulteGroup Inc. | 2,403,000 | ||||
Industrial Conglomerates – 0.5% | ||||||
11,344 | Honeywell International Inc. | 1,747,770 | ||||
Interactive Media & Services – 7.6% | ||||||
11,000 | Alphabet Inc., (2) | 12,392,050 | ||||
22,000 | Facebook Inc., (2) | 3,551,900 | ||||
19,000 | IAC/InterActiveCorp | 4,047,950 | ||||
64,000 | Match Group Inc., (2) | 3,544,320 | ||||
70,000 | TripAdvisor Inc., (2) | 3,721,900 | ||||
Total Interactive Media & Services | 27,258,120 | |||||
Internet & Direct Marketing Retail – 5.4% | ||||||
7,000 | Amazon.com Inc., (2) | 11,478,810 | ||||
106,000 | eBay Inc. | 3,937,900 | ||||
32,000 | Expedia Group Inc. | 3,945,920 | ||||
Total Internet & Direct Marketing Retail | 19,362,630 | |||||
IT Services – 4.7% | ||||||
73,000 | Booz Allen Hamilton Holding Corp | 3,858,780 | ||||
38,000 | Broadridge Financial Solutions Inc. | 3,847,500 | ||||
41,000 | Mastercard Inc. | 9,215,570 | ||||
Total IT Services | 16,921,850 |
Shares | Description (1) | Value | ||||
Machinery – 2.2% | ||||||
79,000 | Allison Transmission Holdings Inc. | $3,926,300 | ||||
26,000 | Cummins Inc. | 4,006,340 | ||||
Total Machinery | 7,932,640 | |||||
Media – 3.3% | ||||||
60,000 | AMC Networks Inc., (2) | 3,942,600 | ||||
98,000 | Comcast Corp | 3,789,660 | ||||
53,000 | Omnicom Group Inc. | 4,012,100 | ||||
Total Media | 11,744,360 | |||||
Metals & Mining – 1.1% | ||||||
101,000 | Steel Dynamics Inc. | 3,769,320 | ||||
Multiline Retail – 1.3% | ||||||
12,600 | Kohl's Corp | 850,878 | ||||
73,000 | Nordstrom Inc. | 3,451,440 | ||||
7,000 | Target Corp | 508,480 | ||||
Total Multiline Retail | 4,810,798 | |||||
Oil, Gas & Consumable Fuels – 2.5% | ||||||
285,000 | Antero Resources Corp, (2) | 2,468,100 | ||||
55,000 | EQT Corp | 996,600 | ||||
245,000 | Gulfport Energy Corp, (2) | 1,876,700 | ||||
200,000 | Parsley Energy Inc., (2) | 3,628,000 | ||||
Total Oil, Gas & Consumable Fuels | 8,969,400 | |||||
Personal Products – 1.0% | ||||||
64,000 | Herbalife Nutrition Ltd | 3,590,400 | ||||
Pharmaceuticals – 1.1% | ||||||
27,000 | Jazz Pharmaceuticals PLC, (2) | 3,780,810 | ||||
Real Estate Management & Development – 1.1% | ||||||
77,000 | CBRE Group Inc., (2) | 3,831,520 | ||||
Road & Rail – 4.3% | ||||||
60,000 | CSX Corp | 4,360,200 | ||||
46,000 | Genesee & Wyoming Inc., (2) | 3,772,000 | ||||
42,000 | Union Pacific Corp | 7,043,400 | ||||
Total Road & Rail | 15,175,600 | |||||
Semiconductors & Semiconductor Equipment – 4.1% | ||||||
111,000 | Micron Technology Inc., (2) | 4,537,680 | ||||
39,000 | NXP Semiconductors NV | 3,561,480 | ||||
177,000 | ON Semiconductor Corp, (2) | 3,801,960 | ||||
53,000 | Versum Materials Inc. | 2,597,000 | ||||
Total Semiconductors & Semiconductor Equipment | 14,498,120 |
Shares | Description (1) | Value | ||||
Software – 8.6% | ||||||
22,000 | Cadence Design Systems Inc., (2) | $1,259,500 | ||||
37,000 | Citrix Systems Inc. | 3,903,500 | ||||
5,000 | Fair Isaac Corp | 1,239,100 | ||||
21,000 | Intuit Inc. | 5,189,730 | ||||
135,000 | Microsoft Corp | 15,124,050 | ||||
24,000 | VMware Inc., (2) | 4,123,440 | ||||
Total Software | 30,839,320 | |||||
Specialty Retail – 9.1% | ||||||
24,000 | Advance Auto Parts Inc. | 3,882,720 | ||||
5,000 | AutoZone Inc., (2) | 4,694,850 | ||||
23,000 | Burlington Stores Inc., (2) | 3,904,020 | ||||
33,000 | Foot Locker Inc. | 1,964,160 | ||||
2,000 | O'Reilly Automotive Inc., (2) | 743,920 | ||||
48,000 | Ross Stores Inc. | 4,551,840 | ||||
103,000 | TJX Cos Inc/The | 5,282,870 | ||||
41,000 | Tractor Supply Co | 3,909,350 | ||||
64,000 | Williams-Sonoma Inc. | 3,722,240 | ||||
Total Specialty Retail | 32,655,970 | |||||
Technology Hardware, Storage & Peripherals – 6.4% | ||||||
97,000 | Apple Inc. | 16,795,550 | ||||
60,000 | NetApp Inc. | 3,912,000 | ||||
40,000 | Western Digital Corp | 2,012,000 | ||||
Total Technology Hardware, Storage & Peripherals | 22,719,550 | |||||
Tobacco – 1.8% | ||||||
120,000 | Altria Group Inc. | 6,289,200 | ||||
Total Long-Term Investments (cost $287,420,543) | 354,622,869 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 0.7% | ||||||
REPURCHASE AGREEMENTS – 0.7% | ||||||
$2,476 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/19, repurchase price $2,475,739, collateralized by $2,505,000 U.S. Treasury Notes, 2.625%, due 12/15/21, value $2,527,963 | 1.200% | 3/01/19 | $2,475,656 | ||
Total Short-Term Investments (cost $2,475,656) | 2,475,656 | |||||
Total Investments (cost $289,896,199) – 99.9% | 357,098,525 | |||||
Other Assets Less Liabilities – 0.1% | 195,642 | |||||
Net Assets – 100% | $357,294,167 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 138.8% | ||||||
COMMON STOCKS – 138.8% | ||||||
Aerospace & Defense – 1.5% | ||||||
13,000 | Boeing Co/The | $5,719,480 | ||||
Airlines – 3.5% | ||||||
68,000 | Alaska Air Group Inc. | 4,195,600 | ||||
85,000 | Southwest Airlines Co | 4,763,400 | ||||
52,000 | United Continental Holdings Inc., (2) | 4,566,120 | ||||
Total Airlines | 13,525,120 | |||||
Auto Components – 0.9% | ||||||
172,000 | Goodyear Tire & Rubber Co/The | 3,402,160 | ||||
Automobiles – 1.2% | ||||||
114,000 | General Motors Co | 4,500,720 | ||||
Banks – 1.1% | ||||||
85,000 | CIT Group Inc. | 4,332,450 | ||||
Beverages – 1.1% | ||||||
72,000 | Molson Coors Brewing Co | 4,439,520 | ||||
Biotechnology – 6.6% | ||||||
71,000 | AbbVie Inc. | 5,626,040 | ||||
29,000 | Amgen Inc. | 5,512,320 | ||||
15,000 | Biogen Inc., (2) | 4,920,150 | ||||
56,000 | Celgene Corp, (2) | 4,654,720 | ||||
79,000 | Gilead Sciences Inc. | 5,136,580 | ||||
Total Biotechnology | 25,849,810 | |||||
Building Products – 1.1% | ||||||
58,000 | Armstrong World Industries Inc. | 4,244,440 | ||||
Capital Markets – 3.4% | ||||||
48,000 | Evercore Inc. | 4,420,800 | ||||
58,000 | LPL Financial Holdings Inc. | 4,373,780 | ||||
53,000 | Raymond James Financial Inc. | 4,376,740 | ||||
Total Capital Markets | 13,171,320 | |||||
Chemicals – 3.3% | ||||||
53,000 | LyondellBasell Industries NV | 4,532,560 | ||||
161,000 | Olin Corp | 4,163,460 |
Shares | Description (1) | Value | ||||
Chemicals (continued) | ||||||
57,000 | Westlake Chemical Corp | $3,982,590 | ||||
Total Chemicals | 12,678,610 | |||||
Commercial Services & Supplies – 2.1% | ||||||
61,000 | Clean Harbors Inc., (2) | 4,148,000 | ||||
83,000 | KAR Auction Services Inc. | 3,913,450 | ||||
Total Commercial Services & Supplies | 8,061,450 | |||||
Communications Equipment – 1.8% | ||||||
133,000 | Cisco Systems Inc. | 6,885,410 | ||||
Consumer Finance – 0.7% | ||||||
227,000 | Navient Corp | 2,773,940 | ||||
Containers & Packaging – 0.8% | ||||||
56,000 | Ball Corp | 3,067,680 | ||||
Diversified Consumer Services – 1.0% | ||||||
168,000 | H&R Block Inc. | 4,057,200 | ||||
Diversified Financial Services – 4.6% | ||||||
251,000 | Bank of America Corp | 7,299,080 | ||||
94,000 | Citigroup Inc. | 6,014,120 | ||||
44,000 | JPMorgan Chase & Co | 4,591,840 | ||||
Total Diversified Financial Services | 17,905,040 | |||||
Diversified Telecommunication Services – 0.9% | ||||||
257,000 | CenturyLink Inc. | 3,389,830 | ||||
Electrical Equipment – 2.2% | ||||||
35,000 | Acuity Brands Inc. | 4,554,200 | ||||
47,000 | Regal Beloit Corp | 3,936,720 | ||||
Total Electrical Equipment | 8,490,920 | |||||
Electronic Equipment, Instruments & Components – 1.0% | ||||||
136,500 | Jabil Inc. | 3,876,600 | ||||
Entertainment – 3.3% | ||||||
118,000 | Cinemark Holdings Inc. | 4,440,340 | ||||
150,000 | Viacom Inc. | 4,383,000 | ||||
790,000 | Zynga Inc., (2) | 4,123,800 | ||||
Total Entertainment | 12,947,140 | |||||
Equity Real Estate Investment Trust – 1.1% | ||||||
244,000 | Medical Properties Trust Inc. | 4,448,120 | ||||
Food & Staples Retailing – 2.5% | ||||||
162,000 | Kroger Co/The | 4,751,460 |
Shares | Description (1) | Value | ||||
Food & Staples Retailing (continued) | ||||||
68,000 | Walgreens Boots Alliance Inc. | $4,840,920 | ||||
Total Food & Staples Retailing | 9,592,380 | |||||
Food Products – 1.0% | ||||||
39,000 | Post Holdings Inc., (2) | 3,973,320 | ||||
Health Care Providers & Services – 9.3% | ||||||
82,000 | Cardinal Health Inc. | 4,455,880 | ||||
72,000 | Centene Corp, (2) | 4,384,080 | ||||
66,000 | CVS Health Corp | 3,816,780 | ||||
60,000 | Encompass Health Corp | 3,788,400 | ||||
35,000 | HCA Inc. | 4,866,400 | ||||
35,000 | McKesson Corp | 4,450,600 | ||||
107,000 | Premier Inc., (2) | 3,914,060 | ||||
27,000 | UnitedHealth Group Inc. | 6,539,940 | ||||
Total Health Care Providers & Services | 36,216,140 | |||||
Hotels, Restaurants & Leisure – 3.2% | ||||||
59,000 | Hyatt Hotels Corp | 4,293,430 | ||||
74,000 | Starbucks Corp | 5,199,240 | ||||
171,000 | Wendy's Co/The | 2,963,430 | ||||
Total Hotels, Restaurants & Leisure | 12,456,100 | |||||
Household Durables – 1.0% | ||||||
140,000 | PulteGroup Inc. | 3,780,000 | ||||
Independent Power & Renewable Electricity Producers – 2.2% | ||||||
263,000 | AES Corp/VA | 4,531,490 | ||||
95,000 | NRG Energy Inc. | 3,959,600 | ||||
Total Independent Power & Renewable Electricity Producers | 8,491,090 | |||||
Industrial Conglomerates – 1.3% | ||||||
34,000 | Honeywell International Inc. | 5,238,380 | ||||
Insurance – 1.1% | ||||||
69,000 | Lincoln National Corp | 4,313,880 | ||||
Interactive Media & Services – 3.3% | ||||||
2,750 | Alphabet Inc., (2) | 3,098,012 | ||||
6,000 | Facebook Inc., (2) | 968,700 | ||||
21,000 | IAC/InterActiveCorp | 4,474,050 | ||||
78,000 | TripAdvisor Inc., (2) | 4,147,260 | ||||
Total Interactive Media & Services | 12,688,022 | |||||
Internet & Direct Marketing Retail – 3.1% | ||||||
1,900 | Amazon.com Inc., (2) | 3,115,677 | ||||
125,000 | eBay Inc. | 4,643,750 |
Shares | Description (1) | Value | ||||
Internet & Direct Marketing Retail (continued) | ||||||
36,000 | Expedia Group Inc. | $4,439,160 | ||||
Total Internet & Direct Marketing Retail | 12,198,587 | |||||
IT Services – 4.0% | ||||||
84,000 | Booz Allen Hamilton Holding Corp | 4,440,240 | ||||
43,000 | Broadridge Financial Solutions Inc. | 4,353,750 | ||||
30,000 | Mastercard Inc. | 6,743,100 | ||||
Total IT Services | 15,537,090 | |||||
Machinery – 5.5% | ||||||
64,000 | AGCO Corp | 4,325,120 | ||||
89,000 | Allison Transmission Holdings Inc. | 4,423,300 | ||||
30,000 | Cummins Inc. | 4,622,700 | ||||
50,000 | Oshkosh Corp | 3,890,500 | ||||
60,000 | PACCAR Inc. | 4,068,000 | ||||
Total Machinery | 21,329,620 | |||||
Media – 5.6% | ||||||
70,000 | AMC Networks Inc., (2) | 4,599,700 | ||||
164,000 | Comcast Corp | 6,341,880 | ||||
143,000 | Discovery Inc., (2) | 4,132,700 | ||||
69,000 | DISH Network Corp, (2) | 2,243,190 | ||||
59,000 | Omnicom Group Inc. | 4,466,300 | ||||
Total Media | 21,783,770 | |||||
Metals & Mining – 2.4% | ||||||
76,000 | Nucor Corp | 4,603,320 | ||||
122,000 | Steel Dynamics Inc. | 4,553,040 | ||||
Total Metals & Mining | 9,156,360 | |||||
Multiline Retail – 2.4% | ||||||
68,000 | Kohl's Corp | 4,592,040 | ||||
64,000 | Target Corp | 4,648,960 | ||||
Total Multiline Retail | 9,241,000 | |||||
Oil, Gas & Consumable Fuels – 8.0% | ||||||
1,015,000 | Chesapeake Energy Corp | 3,004,400 | ||||
26,000 | CONSOL Energy Inc., (2) | 986,700 | ||||
211,000 | EQT Corp | 3,823,320 | ||||
697,000 | Extraction Oil & Gas Inc., (2) | 2,927,400 | ||||
145,000 | Gulfport Energy Corp, (2) | 1,110,700 | ||||
74,000 | Marathon Petroleum Corp | 4,588,740 | ||||
220,000 | Parsley Energy Inc., (2) | 3,990,800 | ||||
372,000 | Range Resources Corp | 3,980,400 | ||||
213,000 | SM Energy Co | 3,480,420 |
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels (continued) | ||||||
132,000 | Whiting Petroleum Corp, (2) | $3,216,840 | ||||
Total Oil, Gas & Consumable Fuels | 31,109,720 | |||||
Paper & Forest Products – 1.1% | ||||||
83,000 | Domtar Corp | 4,225,530 | ||||
Personal Products – 1.1% | ||||||
77,000 | Herbalife Nutrition Ltd | 4,319,700 | ||||
Pharmaceuticals – 1.7% | ||||||
82,000 | Merck & Co Inc. | 6,665,780 | ||||
Professional Services – 1.1% | ||||||
61,000 | Robert Half International Inc. | 4,159,590 | ||||
Real Estate Management & Development – 2.3% | ||||||
90,000 | CBRE Group Inc., (2) | 4,478,400 | ||||
27,000 | Jones Lang LaSalle Inc. | 4,458,240 | ||||
Total Real Estate Management & Development | 8,936,640 | |||||
Road & Rail – 5.1% | ||||||
68,000 | CSX Corp | 4,941,560 | ||||
56,000 | Genesee & Wyoming Inc., (2) | 4,592,000 | ||||
26,500 | Norfolk Southern Corp | 4,751,450 | ||||
33,000 | Union Pacific Corp | 5,534,100 | ||||
Total Road & Rail | 19,819,110 | |||||
Semiconductors & Semiconductor Equipment – 4.3% | ||||||
25,000 | Lam Research Corp | 4,402,250 | ||||
92,000 | Micron Technology Inc., (2) | 3,760,960 | ||||
50,000 | NXP Semiconductors NV | 4,566,000 | ||||
81,000 | Versum Materials Inc. | 3,969,000 | ||||
Total Semiconductors & Semiconductor Equipment | 16,698,210 | |||||
Software – 7.5% | ||||||
44,000 | Citrix Systems Inc. | 4,642,000 | ||||
18,000 | Intuit Inc. | 4,448,340 | ||||
98,000 | Microsoft Corp | 10,978,940 | ||||
25,000 | Red Hat Inc., (2) | 4,565,000 | ||||
27,000 | VMware Inc., (2) | 4,638,870 | ||||
Total Software | 29,273,150 | |||||
Specialty Retail – 8.5% | ||||||
27,000 | Advance Auto Parts Inc. | 4,368,060 | ||||
4,500 | AutoZone Inc., (2) | 4,225,365 | ||||
23,500 | Burlington Stores Inc., (2) | 3,988,890 | ||||
77,000 | Foot Locker Inc. | 4,583,040 |
Shares | Description (1) | Value | ||||
Specialty Retail (continued) | ||||||
34,000 | Murphy USA Inc., (2) | $2,644,180 | ||||
41,000 | Ross Stores Inc. | 3,888,030 | ||||
98,000 | TJX Cos Inc/The | 5,026,420 | ||||
47,000 | Tractor Supply Co | 4,481,450 | ||||
Total Specialty Retail | 33,205,435 | |||||
Technology Hardware, Storage & Peripherals – 4.5% | ||||||
61,000 | Apple Inc. | 10,562,150 | ||||
205,000 | HP Inc. | 4,044,650 | ||||
47,000 | NetApp Inc. | 3,064,400 | ||||
Total Technology Hardware, Storage & Peripherals | 17,671,200 | |||||
Tobacco – 1.5% | ||||||
109,000 | Altria Group Inc. | 5,712,690 | ||||
Wireless Telecommunication Services – 1.0% | ||||||
121,000 | Telephone & Data Systems Inc. | 3,878,050 | ||||
Total Long-Term Investments (cost $518,438,389) | 539,437,504 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 7.7% | ||||||
REPURCHASE AGREEMENTS – 7.7% | ||||||
$29,842 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/19, repurchase price $29,842,786, collateralized by $30,735,000 U.S. Treasury Notes, 2.000%, due 12/31/21, value $30,440,221 | 1.200% | 3/01/19 | $29,841,791 | ||
Total Short-Term Investments (cost $29,841,791) | 29,841,791 | |||||
Total Investments (cost $548,280,180) – 146.5% | 569,279,295 |
Shares | Description (1) | Value | ||||
COMMON STOCKS SOLD SHORT – (67.1)% (3) | ||||||
Aerospace & Defense – (3.5)% | ||||||
(54,000) | BWX Technologies Inc. | $(2,826,900) | ||||
(17,000) | Harris Corp | (2,803,810) | ||||
(26,000) | HEICO Corp | (2,436,980) | ||||
(9,000) | Lockheed Martin Corp | (2,784,690) | ||||
(9,000) | Northrop Grumman Corp | (2,609,640) | ||||
Total Aerospace & Defense | (13,462,020) | |||||
Air Freight & Logistics – (0.7)% | ||||||
(25,000) | United Parcel Service Inc. | (2,755,000) | ||||
Beverages – (0.8)% | ||||||
(61,000) | Brown-Forman Corp | (3,018,890) |
Shares | Description (1) | Value | ||||
Biotechnology – (4.3)% | ||||||
(47,000) | Agios Pharmaceuticals Inc., (2) | $(3,048,890) | ||||
(35,000) | Alnylam Pharmaceuticals Inc., (2) | (2,975,000) | ||||
(17,000) | BioMarin Pharmaceutical Inc., (2) | (1,585,420) | ||||
(18,000) | Bluebird Bio Inc., (2) | (2,793,960) | ||||
(111,000) | Intrexon Corp, (2) | (884,670) | ||||
(19,000) | SAGE Therapeutics Inc., (2) | (3,025,750) | ||||
(18,000) | Sarepta Therapeutics Inc., (2) | (2,596,320) | ||||
Total Biotechnology | (16,910,010) | |||||
Building Products – (0.6)% | ||||||
(92,000) | Resideo Technologies Inc., (2) | (2,364,400) | ||||
Chemicals – (2.9)% | ||||||
(31,000) | Albemarle Corp | (2,829,990) | ||||
(32,000) | FMC Corp | (2,864,000) | ||||
(21,000) | International Flavors & Fragrances Inc. | (2,677,500) | ||||
(36,000) | WR Grace & Co | (2,796,120) | ||||
Total Chemicals | (11,167,610) | |||||
Commercial Services & Supplies – (0.6)% | ||||||
(52,000) | Stericycle Inc., (2) | (2,318,160) | ||||
Containers & Packaging – (1.4)% | ||||||
(27,000) | AptarGroup Inc. | (2,746,710) | ||||
(233,000) | Graphic Packaging Holding Co | (2,837,940) | ||||
Total Containers & Packaging | (5,584,650) | |||||
Distributors – (0.7)% | ||||||
(102,000) | LKQ Corp, (2) | (2,825,400) | ||||
Electric Utilities – (0.8)% | ||||||
(42,000) | Eversource Energy | (2,932,020) | ||||
Electronic Equipment, Instruments & Components – (2.8)% | ||||||
(53,000) | Cognex Corp | (2,830,200) | ||||
(19,000) | Coherent Inc., (2) | (2,528,520) | ||||
(16,000) | IPG Photonics Corp, (2) | (2,480,480) | ||||
(75,000) | Trimble Inc., (2) | (3,000,750) | ||||
Total Electronic Equipment, Instruments & Components | (10,839,950) | |||||
Energy Equipment & Services – (2.2)% | ||||||
(56,000) | Apergy Corp, (2) | (2,350,880) | ||||
(72,000) | Halliburton Co | (2,209,680) | ||||
(691,000) | Nabors Industries Ltd | (2,238,840) | ||||
(2,915,000) | Weatherford International PLC, (2) | (1,881,924) | ||||
Total Energy Equipment & Services | (8,681,324) |
Shares | Description (1) | Value | ||||
Entertainment – (1.9)% | ||||||
(65,000) | Activision Blizzard Inc. | $(2,739,100) | ||||
(86,000) | Liberty Media Corp-Liberty Formula One, (2) | (2,676,320) | ||||
(29,000) | Lions Gate Entertainment Corp | (448,050) | ||||
(4,000) | Netflix Inc., (2) | (1,432,400) | ||||
Total Entertainment | (7,295,870) | |||||
Equity Real Estate Investment Trust – (1.4)% | ||||||
(62,000) | Macerich Co/The | (2,703,200) | ||||
(107,000) | Weyerhaeuser Co | (2,663,230) | ||||
Total Equity Real Estate Investment Trust | (5,366,430) | |||||
Food Products – (4.5)% | ||||||
(66,000) | Archer-Daniels-Midland Co | (2,805,000) | ||||
(52,000) | Bunge Ltd | (2,760,160) | ||||
(129,000) | Conagra Brands Inc. | (3,014,730) | ||||
(167,000) | Hain Celestial Group Inc/The, (2) | (3,284,890) | ||||
(65,000) | Hormel Foods Corp | (2,818,400) | ||||
(81,000) | Kraft Heinz Company | (2,688,390) | ||||
Total Food Products | (17,371,570) | |||||
Health Care Equipment & Supplies – (4.4)% | ||||||
(11,000) | Align Technology Inc., (2) | (2,848,670) | ||||
(11,000) | Becton Dickinson and Co | (2,736,690) | ||||
(4,500) | Cooper Cos Inc/The | (1,286,955) | ||||
(64,000) | DENTSPLY SIRONA Inc. | (2,672,640) | ||||
(22,000) | Insulet Corp, (2) | (2,066,020) | ||||
(19,000) | Penumbra Inc., (2) | (2,539,730) | ||||
(10,500) | Teleflex Inc. | (3,043,320) | ||||
Total Health Care Equipment & Supplies | (17,194,025) | |||||
Hotels, Restaurants & Leisure – (3.4)% | ||||||
(89,000) | Aramark | (2,696,700) | ||||
(308,000) | Caesars Entertainment Corp, (2) | (2,654,960) | ||||
(34,000) | Choice Hotels International Inc. | (2,714,560) | ||||
(131,000) | International Game Technology PLC | (2,259,750) | ||||
(22,000) | Wynn Resorts Ltd | (2,783,880) | ||||
Total Hotels, Restaurants & Leisure | (13,109,850) | |||||
Household Durables – (0.7)% | ||||||
(21,000) | Mohawk Industries Inc., (2) | (2,858,520) | ||||
Household Products – (0.7)% | ||||||
(51,000) | Spectrum Brands Holdings Inc. | (2,762,670) | ||||
Industrial Conglomerates – (0.6)% | ||||||
(215,000) | General Electric Co | (2,233,850) |
Shares | Description (1) | Value | ||||
Insurance – (1.4)% | ||||||
(67,000) | American International Group Inc. | $(2,894,400) | ||||
(66,000) | Brighthouse Financial Inc., (2) | (2,555,520) | ||||
Total Insurance | (5,449,920) | |||||
Interactive Media & Services – (0.6)% | ||||||
(60,000) | Zillow Group Inc., (2) | (2,508,000) | ||||
Internet & Direct Marketing Retail – (0.7)% | ||||||
(34,000) | GrubHub Inc., (2) | (2,773,720) | ||||
IT Services – (0.8)% | ||||||
(31,000) | Worldpay Inc., (2) | (2,969,800) | ||||
Leisure Products – (1.4)% | ||||||
(30,000) | Hasbro Inc. | (2,547,000) | ||||
(198,000) | Mattel Inc. | (2,855,160) | ||||
Total Leisure Products | (5,402,160) | |||||
Machinery – (1.5)% | ||||||
(33,000) | Fortive Corp | (2,691,810) | ||||
(1,503) | Wabtec Corp | (110,110) | ||||
(183,000) | Welbilt Inc., (2) | (2,922,510) | ||||
Total Machinery | (5,724,430) | |||||
Marine – (0.7)% | ||||||
(36,000) | Kirby Corp, (2) | (2,671,920) | ||||
Media – (0.7)% | ||||||
(51,000) | GCI Liberty Inc., (2) | (2,730,540) | ||||
Multi-Utilities – (2.2)% | ||||||
(35,000) | Consolidated Edison Inc. | (2,885,750) | ||||
(102,000) | NiSource Inc. | (2,751,960) | ||||
(24,000) | Sempra Energy | (2,890,560) | ||||
Total Multi-Utilities | (8,528,270) | |||||
Oil, Gas & Consumable Fuels – (1.2)% | ||||||
(23,000) | Diamondback Energy Inc. | (2,367,390) | ||||
(34,000) | ONEOK Inc. | (2,184,840) | ||||
Total Oil, Gas & Consumable Fuels | (4,552,230) | |||||
Personal Products – (0.7)% | ||||||
(249,000) | Coty Inc. | (2,739,000) | ||||
Pharmaceuticals – (0.7)% | ||||||
(64,000) | Catalent Inc., (2) | (2,766,080) |
Shares | Description (1) | Value | ||||
Professional Services – (2.0)% | ||||||
(5,000) | CoStar Group Inc., (2) | $(2,287,650) | ||||
(25,000) | Equifax Inc. | (2,737,750) | ||||
(44,000) | TransUnion | (2,840,640) | ||||
Total Professional Services | (7,866,040) | |||||
Road & Rail – (0.7)% | ||||||
(45,000) | Ryder System Inc. | (2,797,200) | ||||
Semiconductors & Semiconductor Equipment – (3.6)% | ||||||
(57,000) | First Solar Inc., (2) | (2,995,350) | ||||
(145,000) | Marvell Technology Group Ltd | (2,892,750) | ||||
(30,000) | Microchip Technology Inc. | (2,606,100) | ||||
(20,000) | Monolithic Power Systems Inc. | (2,682,200) | ||||
(20,000) | Universal Display Corp | (2,984,800) | ||||
Total Semiconductors & Semiconductor Equipment | (14,161,200) | |||||
Software – (4.4)% | ||||||
(41,000) | 2U Inc., (2) | (3,021,700) | ||||
(158,000) | FireEye Inc., (2) | (2,648,080) | ||||
(53,000) | Nutanix Inc., (2) | (2,654,770) | ||||
(45,000) | Pegasystems Inc. | (2,956,950) | ||||
(22,000) | Proofpoint Inc., (2) | (2,597,980) | ||||
(50,000) | RealPage Inc., (2) | (3,060,500) | ||||
Total Software | (16,939,980) | |||||
Specialty Retail – (1.5)% | ||||||
(78,000) | Floor & Decor Holdings Inc., (2) | (2,900,040) | ||||
(30,000) | Tiffany & Co | (2,851,200) | ||||
Total Specialty Retail | (5,751,240) | |||||
Technology Hardware, Storage & Peripherals – (0.8)% | ||||||
(145,000) | Pure Storage Inc., (2) | (2,969,600) | ||||
Textiles, Apparel & Luxury Goods – (0.7)% | ||||||
(30,000) | Carter's Inc. | (2,923,200) | ||||
Trading Companies & Distributors – (0.7)% | ||||||
(19,000) | Watsco Inc. | (2,733,910) | ||||
Water Utilities – (1.2)% | ||||||
(17,000) | American Water Works Co Inc. | (1,727,540) | ||||
(81,000) | Aqua America Inc. | (2,911,140) | ||||
Total Water Utilities | (4,638,680) | |||||
Total Common Stocks Sold Short (proceeds $268,041,332) | (260,649,339) | |||||
Other Assets Less Liabilities – 20.6% | 80,005,439 | |||||
Net Assets – 100% | $388,635,395 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | The Fund may pledge up to 100% of its eligible long-term investments in the Portfolio of Investments as collateral for Common Stocks Sold Short. As of the end of the reporting period, long-term investments with a value of $284,866,073 have been pledged as collateral for Common Stocks Sold Short. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 70.8% | ||||||
COMMON STOCKS – 70.8% | ||||||
Airlines – 3.1% | ||||||
98,000 | Alaska Air Group Inc. | $6,046,600 | ||||
147,000 | Southwest Airlines Co | 8,237,880 | ||||
89,000 | United Continental Holdings Inc., (2) | 7,815,090 | ||||
Total Airlines | 22,099,570 | |||||
Auto Components – 0.9% | ||||||
341,000 | Goodyear Tire & Rubber Co/The | 6,744,980 | ||||
Automobiles – 1.0% | ||||||
183,000 | General Motors Co | 7,224,840 | ||||
Biotechnology – 2.8% | ||||||
91,000 | AbbVie Inc. | 7,210,840 | ||||
24,000 | Biogen Inc., (2) | 7,872,240 | ||||
63,000 | Celgene Corp, (2) | 5,236,560 | ||||
Total Biotechnology | 20,319,640 | |||||
Building Products – 0.5% | ||||||
52,000 | Armstrong World Industries Inc. | 3,805,360 | ||||
Capital Markets – 1.1% | ||||||
102,000 | LPL Financial Holdings Inc. | 7,691,820 | ||||
Chemicals – 1.9% | ||||||
81,000 | LyondellBasell Industries NV | 6,927,120 | ||||
98,000 | Westlake Chemical Corp | 6,847,260 | ||||
Total Chemicals | 13,774,380 | |||||
Commercial Services & Supplies – 0.7% | ||||||
104,000 | KAR Auction Services Inc. | 4,903,600 | ||||
Communications Equipment – 0.1% | ||||||
17,000 | Cisco Systems Inc. | 880,090 | ||||
Construction & Engineering – 1.3% | ||||||
30,000 | AECOM, (2) | 928,800 | ||||
254,000 | Arcosa Inc. | 8,506,460 | ||||
Total Construction & Engineering | 9,435,260 | |||||
Consumer Finance – 1.9% | ||||||
18,000 | Credit Acceptance Corp, (2) | 7,917,480 |
Shares | Description (1) | Value | ||||
Consumer Finance (continued) | ||||||
461,000 | Navient Corp | $5,633,420 | ||||
Total Consumer Finance | 13,550,900 | |||||
Diversified Consumer Services – 0.9% | ||||||
272,000 | H&R Block Inc. | 6,568,800 | ||||
Diversified Telecommunication Services – 0.6% | ||||||
327,000 | CenturyLink Inc. | 4,313,130 | ||||
Electrical Equipment – 1.8% | ||||||
59,000 | Acuity Brands Inc. | 7,677,080 | ||||
67,000 | Regal Beloit Corp | 5,611,920 | ||||
Total Electrical Equipment | 13,289,000 | |||||
Electronic Equipment, Instruments & Components – 1.1% | ||||||
271,000 | Jabil Inc. | 7,696,400 | ||||
Entertainment – 2.4% | ||||||
61,000 | Cinemark Holdings Inc. | 2,295,430 | ||||
242,000 | Viacom Inc. | 7,071,240 | ||||
1,572,000 | Zynga Inc., (2) | 8,205,840 | ||||
Total Entertainment | 17,572,510 | |||||
Food & Staples Retailing – 1.1% | ||||||
251,000 | Kroger Co/The | 7,361,830 | ||||
12,100 | Walgreens Boots Alliance Inc. | 861,399 | ||||
Total Food & Staples Retailing | 8,223,229 | |||||
Health Care Providers & Services – 4.9% | ||||||
94,000 | AmerisourceBergen Corp | 7,830,200 | ||||
128,000 | Cardinal Health Inc. | 6,955,520 | ||||
85,000 | Encompass Health Corp | 5,366,900 | ||||
52,000 | HCA Inc. | 7,230,080 | ||||
7,000 | McKesson Corp | 890,120 | ||||
28,000 | UnitedHealth Group Inc. | 6,782,160 | ||||
Total Health Care Providers & Services | 35,054,980 | |||||
Hotels, Restaurants & Leisure – 1.8% | ||||||
111,000 | Starbucks Corp | 7,798,860 | ||||
286,000 | Wendy's Co/The | 4,956,380 | ||||
Total Hotels, Restaurants & Leisure | 12,755,240 | |||||
Insurance – 0.9% | ||||||
52,000 | Lincoln National Corp | 3,251,040 | ||||
78,000 | MetLife Inc. | 3,524,820 | ||||
Total Insurance | 6,775,860 |
Shares | Description (1) | Value | ||||
Interactive Media & Services – 3.2% | ||||||
37,000 | IAC/InterActiveCorp | $7,882,850 | ||||
136,000 | Match Group Inc., (2) | 7,531,680 | ||||
144,000 | TripAdvisor Inc., (2) | 7,656,480 | ||||
Total Interactive Media & Services | 23,071,010 | |||||
Internet & Direct Marketing Retail – 1.1% | ||||||
63,000 | Expedia Group Inc. | 7,768,530 | ||||
IT Services – 2.3% | ||||||
150,000 | Booz Allen Hamilton Holding Corp | 7,929,000 | ||||
24,000 | Broadridge Financial Solutions Inc. | 2,430,000 | ||||
27,000 | Mastercard Inc. | 6,068,790 | ||||
Total IT Services | 16,427,790 | |||||
Machinery – 4.2% | ||||||
120,000 | AGCO Corp | 8,109,600 | ||||
118,000 | Allison Transmission Holdings Inc. | 5,864,600 | ||||
89,000 | Oshkosh Corp | 6,925,090 | ||||
27,000 | PACCAR Inc. | 1,830,600 | ||||
178,000 | Timken Co/The | 7,723,420 | ||||
Total Machinery | 30,453,310 | |||||
Media – 3.3% | ||||||
109,000 | AMC Networks Inc., (2) | 7,162,390 | ||||
200,000 | Comcast Corp | 7,734,000 | ||||
89,000 | DISH Network Corp, (2) | 2,893,390 | ||||
49,800 | Gannett Co Inc. | 584,652 | ||||
74,000 | Omnicom Group Inc. | 5,601,800 | ||||
Total Media | 23,976,232 | |||||
Metals & Mining – 1.8% | ||||||
109,000 | Nucor Corp | 6,602,130 | ||||
163,000 | Steel Dynamics Inc. | 6,083,160 | ||||
Total Metals & Mining | 12,685,290 | |||||
Mortgage Real Estate Investment Trust – 0.4% | ||||||
138,000 | Chimera Investment Corp | 2,551,620 | ||||
Multiline Retail – 1.5% | ||||||
101,000 | Kohl's Corp | 6,820,530 | ||||
42,000 | Nordstrom Inc. | 1,985,760 | ||||
26,000 | Target Corp | 1,888,640 | ||||
Total Multiline Retail | 10,694,930 | |||||
Oil, Gas & Consumable Fuels – 4.8% | ||||||
119,000 | Antero Resources Corp, (2) | 1,030,540 | ||||
425,000 | EQT Corp | 7,701,000 |
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels (continued) | ||||||
1,224,000 | Extraction Oil & Gas Inc., (2) | $5,140,800 | ||||
161,000 | Gulfport Energy Corp, (2) | 1,233,260 | ||||
46,000 | Marathon Petroleum Corp | 2,852,460 | ||||
191,000 | Parsley Energy Inc., (2) | 3,464,740 | ||||
766,000 | Range Resources Corp | 8,196,200 | ||||
309,000 | SM Energy Co | 5,049,060 | ||||
Total Oil, Gas & Consumable Fuels | 34,668,060 | |||||
Paper & Forest Products – 1.0% | ||||||
136,000 | Domtar Corp | 6,923,760 | ||||
Personal Products – 1.1% | ||||||
140,000 | Herbalife Nutrition Ltd | 7,854,000 | ||||
Professional Services – 0.3% | ||||||
30,000 | Robert Half International Inc. | 2,045,700 | ||||
Real Estate Management & Development – 1.2% | ||||||
158,000 | CBRE Group Inc., (2) | 7,862,080 | ||||
3,000 | Jones Lang LaSalle Inc. | 495,360 | ||||
Total Real Estate Management & Development | 8,357,440 | |||||
Road & Rail – 2.2% | ||||||
95,000 | Genesee & Wyoming Inc., (2) | 7,790,000 | ||||
46,000 | Union Pacific Corp | 7,714,200 | ||||
Total Road & Rail | 15,504,200 | |||||
Semiconductors & Semiconductor Equipment – 3.2% | ||||||
188,000 | Micron Technology Inc., (2) | 7,685,440 | ||||
85,000 | NXP Semiconductors NV | 7,762,200 | ||||
360,000 | ON Semiconductor Corp, (2) | 7,732,800 | ||||
Total Semiconductors & Semiconductor Equipment | 23,180,440 | |||||
Software – 1.8% | ||||||
48,000 | Citrix Systems Inc. | 5,064,000 | ||||
46,000 | VMware Inc., (2) | 7,903,260 | ||||
Total Software | 12,967,260 | |||||
Specialty Retail – 2.7% | ||||||
46,000 | Advance Auto Parts Inc. | 7,441,880 | ||||
124,000 | Foot Locker Inc. | 7,380,480 | ||||
26,000 | Murphy USA Inc., (2) | 2,022,020 | ||||
26,000 | Ross Stores Inc. | 2,465,580 | ||||
Total Specialty Retail | 19,309,960 | |||||
Technology Hardware, Storage & Peripherals – 0.5% | ||||||
59,000 | NetApp Inc. | 3,846,800 |
Shares | Description (1) | Value | ||||
Tobacco – 0.6% | ||||||
79,000 | Altria Group Inc. | $4,140,390 | ||||
Trading Companies & Distributors – 1.0% | ||||||
128,000 | WESCO International Inc., (2) | 6,969,600 | ||||
Wireless Telecommunication Services – 1.8% | ||||||
248,000 | Telephone & Data Systems Inc. | 7,948,400 | ||||
101,000 | United States Cellular Corp, (2) | 4,715,690 | ||||
Total Wireless Telecommunication Services | 12,664,090 | |||||
Total Long-Term Investments (cost $491,977,667) | 508,740,001 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 29.0% | ||||||
REPURCHASE AGREEMENTS – 29.0% | ||||||
$207,893 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/19, repurchase price $207,900,046, collateralized by $210,125,000 U.S. Treasury Notes, 2.625%, due 12/15/21, value $212,051,216 | 1.200% | 3/01/19 | $207,893,116 | ||
Total Short-Term Investments (cost $207,893,116) | 207,893,116 | |||||
Total Investments (cost $699,870,783) – 99.8% | 716,633,117 |
Shares | Description (1) | Value | ||||
COMMON STOCKS SOLD SHORT – (58.5)% (3) | ||||||
Aerospace & Defense – (4.5)% | ||||||
(142,000) | BWX Technologies Inc. | $(7,433,700) | ||||
(38,000) | Harris Corp | (6,267,340) | ||||
(22,000) | Lockheed Martin Corp | (6,807,020) | ||||
(20,000) | Northrop Grumman Corp | (5,799,200) | ||||
(32,000) | Raytheon Co | (5,968,000) | ||||
Total Aerospace & Defense | (32,275,260) | |||||
Air Freight & Logistics – (0.8)% | ||||||
(52,000) | United Parcel Service Inc. | (5,730,400) |
Shares | Description (1) | Value | ||||
Biotechnology – (4.6)% | ||||||
(106,000) | Agios Pharmaceuticals Inc., (2) | $(6,876,220) | ||||
(71,000) | Alnylam Pharmaceuticals Inc., (2) | (6,035,000) | ||||
(19,000) | BioMarin Pharmaceutical Inc., (2) | (1,771,940) | ||||
(47,000) | Bluebird Bio Inc., (2) | (7,295,340) | ||||
(112,000) | Intrexon Corp, (2) | (892,640) | ||||
(338,000) | OPKO Health Inc, (2) | (861,900) | ||||
(43,000) | SAGE Therapeutics Inc., (2) | (6,847,750) | ||||
(15,000) | Sarepta Therapeutics Inc., (2) | (2,163,600) | ||||
Total Biotechnology | (32,744,390) | |||||
Chemicals – (2.9)% | ||||||
(34,000) | Albemarle Corp | (3,103,860) | ||||
(67,000) | FMC Corp | (5,996,500) | ||||
(37,000) | International Flavors & Fragrances Inc. | (4,717,500) | ||||
(91,000) | WR Grace & Co | (7,067,970) | ||||
Total Chemicals | (20,885,830) | |||||
Containers & Packaging – (0.9)% | ||||||
(524,000) | Graphic Packaging Holding Co | (6,382,320) | ||||
Distributors – (0.8)% | ||||||
(205,000) | LKQ Corp, (2) | (5,678,500) | ||||
Electric Utilities – (0.2)% | ||||||
(19,000) | Eversource Energy | (1,326,390) | ||||
Electronic Equipment, Instruments & Components – (2.8)% | ||||||
(80,000) | Cognex Corp | (4,272,000) | ||||
(49,000) | Coherent Inc., (2) | (6,520,920) | ||||
(43,000) | IPG Photonics Corp, (2) | (6,666,290) | ||||
(63,000) | Trimble Inc., (2) | (2,520,630) | ||||
Total Electronic Equipment, Instruments & Components | (19,979,840) | |||||
Energy Equipment & Services – (1.7)% | ||||||
(54,000) | Apergy Corp, (2) | (2,266,920) | ||||
(82,000) | Halliburton Co | (2,516,580) | ||||
(544,000) | Nabors Industries Ltd | (1,762,560) | ||||
(8,508,000) | Weatherford International PLC, (2) | (5,492,765) | ||||
Total Energy Equipment & Services | (12,038,825) | |||||
Entertainment – (2.1)% | ||||||
(140,000) | Activision Blizzard Inc. | (5,899,600) | ||||
(55,000) | Liberty Media Corp-Liberty Formula One, (2) | (1,711,600) | ||||
(51,000) | Lions Gate Entertainment Corp | (787,950) | ||||
(19,000) | Netflix Inc., (2) | (6,803,900) | ||||
Total Entertainment | (15,203,050) |
Shares | Description (1) | Value | ||||
Food Products – (3.5)% | ||||||
(133,000) | Bunge Ltd | $(7,059,640) | ||||
(300,000) | Conagra Brands Inc. | (7,011,000) | ||||
(406,000) | Hain Celestial Group Inc/The, (2) | (7,986,020) | ||||
(66,000) | Hormel Foods Corp | (2,861,760) | ||||
Total Food Products | (24,918,420) | |||||
Health Care Equipment & Supplies – (4.4)% | ||||||
(26,000) | Align Technology Inc., (2) | (6,733,220) | ||||
(12,000) | Becton Dickinson and Co | (2,985,480) | ||||
(13,000) | Cooper Cos Inc/The | (3,717,870) | ||||
(133,000) | DENTSPLY SIRONA Inc. | (5,554,080) | ||||
(74,000) | Insulet Corp, (2) | (6,949,340) | ||||
(20,000) | Penumbra Inc., (2) | (2,673,400) | ||||
(11,000) | Teleflex Inc. | (3,188,240) | ||||
Total Health Care Equipment & Supplies | (31,801,630) | |||||
Hotels, Restaurants & Leisure – (1.9)% | ||||||
(726,000) | Caesars Entertainment Corp, (2) | (6,258,120) | ||||
(55,000) | International Game Technology PLC | (948,750) | ||||
(51,000) | Wynn Resorts Ltd | (6,453,540) | ||||
Total Hotels, Restaurants & Leisure | (13,660,410) | |||||
Household Durables – (0.9)% | ||||||
(50,000) | Mohawk Industries Inc., (2) | (6,806,000) | ||||
Household Products – (1.0)% | ||||||
(131,000) | Spectrum Brands Holdings Inc. | (7,096,270) | ||||
Industrial Conglomerates – (1.0)% | ||||||
(662,000) | General Electric Co | (6,878,180) | ||||
Insurance – (1.8)% | ||||||
(162,000) | American International Group Inc. | (6,998,400) | ||||
(148,000) | Brighthouse Financial Inc., (2) | (5,730,560) | ||||
Total Insurance | (12,728,960) | |||||
Interactive Media & Services – (0.9)% | ||||||
(163,000) | Zillow Group Inc., (2) | (6,813,400) | ||||
Internet & Direct Marketing Retail – (0.9)% | ||||||
(82,000) | GrubHub Inc., (2) | (6,689,560) | ||||
IT Services – (1.0)% | ||||||
(76,000) | Worldpay Inc., (2) | (7,280,800) |
Shares | Description (1) | Value | ||||
Leisure Products – (1.3)% | ||||||
(42,000) | Hasbro Inc. | $(3,565,800) | ||||
(404,000) | Mattel Inc. | (5,825,680) | ||||
Total Leisure Products | (9,391,480) | |||||
Machinery – (1.0)% | ||||||
(3,555) | Wabtec Corp | (260,439) | ||||
(455,000) | Welbilt Inc., (2) | (7,266,350) | ||||
Total Machinery | (7,526,789) | |||||
Media – (0.9)% | ||||||
(122,000) | GCI Liberty Inc., (2) | (6,531,880) | ||||
Multi-Utilities – (1.2)% | ||||||
(193,000) | NiSource Inc. | (5,207,140) | ||||
(31,000) | Sempra Energy | (3,733,640) | ||||
Total Multi-Utilities | (8,940,780) | |||||
Personal Products – (1.0)% | ||||||
(624,000) | Coty Inc. | (6,864,000) | ||||
Pharmaceuticals – (0.5)% | ||||||
(88,000) | Catalent Inc., (2) | (3,803,360) | ||||
Professional Services – (0.8)% | ||||||
(53,000) | Equifax Inc. | (5,804,030) | ||||
Semiconductors & Semiconductor Equipment – (3.8)% | ||||||
(133,000) | First Solar Inc., (2) | (6,989,150) | ||||
(169,000) | Marvell Technology Group Ltd | (3,371,550) | ||||
(71,000) | Microchip Technology Inc. | (6,167,770) | ||||
(28,000) | Monolithic Power Systems Inc. | (3,755,080) | ||||
(46,000) | Universal Display Corp | (6,865,040) | ||||
Total Semiconductors & Semiconductor Equipment | (27,148,590) | |||||
Software – (4.1)% | ||||||
(92,000) | 2U Inc., (2) | (6,780,400) | ||||
(160,000) | FireEye Inc., (2) | (2,681,600) | ||||
(129,000) | Nutanix Inc., (2) | (6,461,610) | ||||
(56,000) | Proofpoint Inc., (2) | (6,613,040) | ||||
(113,000) | RealPage Inc., (2) | (6,916,730) | ||||
Total Software | (29,453,380) | |||||
Specialty Retail – (2.0)% | ||||||
(186,000) | Floor & Decor Holdings Inc., (2) | (6,915,480) | ||||
(77,000) | Tiffany & Co | (7,318,080) | ||||
Total Specialty Retail | (14,233,560) |
Shares | Description (1) | Value | ||||
Technology Hardware, Storage & Peripherals – (0.9)% | ||||||
(330,000) | Pure Storage Inc., (2) | $(6,758,400) | ||||
Textiles, Apparel & Luxury Goods – (0.7)% | ||||||
(51,000) | Carter's Inc. | (4,969,440) | ||||
Trading Companies & Distributors – (0.7)% | ||||||
(34,000) | Watsco Inc. | (4,892,260) | ||||
Water Utilities – (1.0)% | ||||||
(16,000) | American Water Works Co Inc. | (1,625,920) | ||||
(146,000) | Aqua America Inc. | (5,247,240) | ||||
Total Water Utilities | (6,873,160) | |||||
Total Common Stocks Sold Short (proceeds $389,787,909) | (420,109,544) | |||||
Other Assets Less Liabilities – 58.7% | 421,513,629 | |||||
Net Assets – 100% | $718,037,202 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | The Fund may pledge up to 100% of its eligible long-term investments in the Portfolio of Investments as collateral for Common Stocks Sold Short. As of the end of the reporting period, long-term investments with a value of $84,766,485 have been pledged as collateral for Common Stocks Sold Short. |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Assets | |||||
Long-term investments, at value (cost $427,751,861, $926,687,073, $287,420,543, $518,438,389 and $491,977,667, respectively) | $440,657,571 | $984,482,910 | $354,622,869 | $539,437,504 | $508,740,001 |
Short-term investments, at value (cost approximates value) | 3,561,976 | 2,141,747 | 2,475,656 | 29,841,791 | 207,893,116 |
Cash collateral at brokers for common stocks sold short(1) | — | — | — | 80,599,540 | 424,303,061 |
Receivable for: | |||||
Dividends | 833,615 | 1,420,575 | 469,232 | 770,025 | 551,054 |
Interest | 119 | 71 | 83 | 995 | 6,930 |
Investments sold | 3,781,639 | 4,864,541 | 1,339,396 | 14,001,197 | 16,071,069 |
Shares sold | 1,902,571 | 3,150,310 | 98,652 | 2,019,668 | 8,738,613 |
Other assets | 141,177 | 51,581 | 50,210 | 30,702 | 67,926 |
Total assets | 450,878,668 | 996,111,735 | 359,056,098 | 666,701,422 | 1,166,371,770 |
Liabilities | |||||
Common stocks sold short, at value (proceeds $—, $—, $—, $268,041,332 and $389,787,909, respectively) | — | — | — | 260,649,339 | 420,109,544 |
Payable for: | |||||
Dividends on common stocks sold short | — | — | — | 395,100 | 601,674 |
Investments purchased | 3,667,984 | 6,015,334 | 960,213 | 15,051,001 | 23,829,914 |
Shares redeemed | 584,487 | 1,657,306 | 375,798 | 1,437,219 | 2,927,727 |
Accrued expenses: | |||||
Management fees | 211,456 | 421,491 | 153,381 | 329,005 | 625,478 |
Shareholder servicing agent fees | 57,638 | 118,467 | 96,260 | 92,875 | 103,478 |
Trustees fees | 110,372 | 14,318 | 26,248 | 3,411 | 3,882 |
12b-1 distribution and service fees | 62,062 | 106,264 | 51,766 | 27,491 | 17,390 |
Other | 92,894 | 163,688 | 98,265 | 80,586 | 115,481 |
Total liabilities | 4,786,893 | 8,496,868 | 1,761,931 | 278,066,027 | 448,334,568 |
Net assets | $446,091,775 | $987,614,867 | $357,294,167 | $388,635,395 | $718,037,202 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Class A Shares | |||||
Net assets | $248,908,583 | $107,983,649 | $120,216,480 | $56,426,792 | $40,494,199 |
Shares outstanding | 11,201,375 | 3,487,125 | 4,716,484 | 1,410,484 | 1,713,001 |
Net asset value ("NAV") per share | $22.22 | $30.97 | $25.49 | $40.01 | $23.64 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $23.58 | $32.86 | $27.05 | $42.45 | $25.08 |
Class C Shares | |||||
Net assets | $18,691,322 | $111,645,912 | $37,133,628 | $21,476,553 | $12,522,684 |
Shares outstanding | 884,128 | 3,671,079 | 1,505,969 | 584,935 | 553,401 |
NAV and offering price per share | $21.14 | $30.41 | $24.66 | $36.72 | $22.63 |
Class R3 Shares | |||||
Net assets | $468,048 | $ — | $ — | $ — | $ — |
Shares outstanding | 20,811 | — | — | — | — |
NAV and offering price per share | $22.49 | $ — | $ — | $ — | $ — |
Class R6 Shares | |||||
Net assets | $15,469,018 | $130,319,472 | $24,070,890 | $ — | $ — |
Shares outstanding | 692,622 | 4,215,061 | 941,528 | — | — |
NAV and offering price per share | $22.33 | $30.92 | $25.57 | $ — | $ — |
Class I Shares | |||||
Net assets | $162,554,804 | $637,665,834 | $175,873,169 | $310,732,050 | $665,020,319 |
Shares outstanding | 7,285,816 | 20,655,946 | 6,888,392 | 7,560,094 | 27,717,988 |
NAV and offering price per share | $22.31 | $30.87 | $25.53 | $41.10 | $23.99 |
Fund level net assets consist of: | |||||
Capital paid-in | $476,269,908 | $965,870,696 | $294,658,304 | $393,157,197 | $740,254,183 |
Total distributable earnings | (30,178,133) | 21,744,171 | 62,635,863 | (4,521,802) | (22,216,981) |
Fund level net assets | $446,091,775 | $987,614,867 | $357,294,167 | $388,635,395 | $718,037,202 |
Authorized shares - per class | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
Par value per share | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 |
(1) | Cash pledged as collateral for common stocks sold short is in addition to the Fund's securities pledged as collateral as noted in the Portfolio of Investments. |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Investment Income | |||||
Dividends | $5,347,804 | $8,813,453 | $3,066,280 | $4,652,415 | $1,977,704 |
Interest | 11,267 | 11,253 | 13,260 | 79,693 | 1,032,363 |
Other | 1,950 | 2,925 | 3,175 | 663,953 | 2,376,290 |
Tax withheld | (2,525) | (5,350) | (1,425) | (4,300) | — |
Total investment income | 5,358,496 | 8,822,281 | 3,081,290 | 5,391,761 | 5,386,357 |
Expenses | |||||
Management fees | 1,461,815 | 2,878,397 | 1,380,858 | 2,441,355 | 2,874,070 |
12b-1 service fees - Class A Shares | 323,860 | 130,154 | 164,701 | 69,611 | 41,288 |
12b-1 distibution and service fees - Class C Shares | 95,228 | 534,286 | 205,419 | 102,247 | 42,367 |
12b-1 distibution and service fees - Class R3 Shares | 970 | — | — | — | — |
Dividends expense on common stocks sold short | — | — | — | 1,821,741 | 1,588,168 |
Shareholder servicing agent fees | 152,676 | 298,031 | 208,865 | 228,526 | 232,525 |
Custodian fees | 43,312 | 54,986 | 35,869 | 40,811 | 27,728 |
Trustees fees | 6,873 | 14,035 | 6,205 | 6,485 | 7,054 |
Professional fees | 24,131 | 33,953 | 22,299 | 17,357 | 14,779 |
Shareholder reporting expenses | 27,534 | 68,661 | 39,575 | 42,516 | 34,545 |
Federal and state registration fees | 43,682 | 101,651 | 78,915 | 51,127 | 122,033 |
Other | 2,040 | 4,137 | 12,868 | 5,774 | 3,623 |
Total expenses before fee waiver/expense reimbursement | 2,182,121 | 4,118,291 | 2,155,574 | 4,827,550 | 4,988,180 |
Fee waiver/expense reimbursement | (66,377) | (181,625) | (275,905) | (169,074) | (172,636) |
Net expenses | 2,115,744 | 3,936,666 | 1,879,669 | 4,658,476 | 4,815,544 |
Net investment income (loss) | 3,242,752 | 4,885,615 | 1,201,621 | 733,285 | 570,813 |
Realized and Unrealized Gain (Loss) | |||||
Net realized gain (loss) from: | |||||
Investments | (4,333,372) | (29,221,375) | 28,495,516 | (25,240,903) | (1,856,920) |
Common stocks sold short | — | — | — | (3,114,128) | (4,724,665) |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments | (45,019,571) | (72,976,589) | (77,428,186) | (23,735,020) | 585,468 |
Common stocks sold short | — | — | — | 12,539,314 | (28,289,848) |
Net realized and unrealized gain (loss) | (49,352,943) | (102,197,964) | (48,932,670) | (39,550,737) | (34,285,965) |
Net increase (decrease) in net assets from operations | $(46,110,191) | $(97,312,349) | $(47,731,049) | $(38,817,452) | $(33,715,152) |
Large Cap Value | Large Cap Core | ||||
Six Months Ended 2/28/19 | Year Ended(1) 8/31/18 | Six Months Ended 2/28/19 | Year Ended(1) 8/31/18 | ||
Operations | |||||
Net investment income (loss) | $3,242,752 | $4,240,069 | $4,885,615 | $3,941,955 | |
Net realized gain (loss) from: | |||||
Investments | (4,333,372) | 54,782,217 | (29,221,375) | 54,147,131 | |
Common stocks sold short | — | — | — | — | |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments | (45,019,571) | 24,433,997 | (72,976,589) | 81,839,690 | |
Common stocks sold short | — | — | — | — | |
Net increase (decrease) in net assets from operations | (46,110,191) | 83,456,283 | (97,312,349) | 139,928,776 | |
Distributions to Common Shareholders(2) | |||||
Dividends(3) | |||||
Class A Shares | (32,417,835) | (25,387,711) | (1,136,128) | (8,490,964) | |
Class C Shares | (2,326,745) | (1,833,854) | (733,665) | (8,277,269) | |
Class R3 Shares | (56,892) | (20,410) | — | — | |
Class R6 Shares | (1,953,723) | (1,853,000) | (1,680,547) | (14,864,621) | |
Class I Shares | (21,259,721) | (11,166,791) | (8,165,566) | (40,174,843) | |
Class T Shares(4) | — | (2,637) | — | (3,216) | |
Decrease in net assets from distributions to shareholders | (58,014,916) | (40,264,403) | (11,715,906) | (71,810,913) | |
Fund Share Transactions | |||||
Fund reorganization | — | 39,210,690 | — | 148,253,727 | |
Proceeds from sale of shares | 67,914,023 | 64,019,304 | 414,938,824 | 383,440,637 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 47,973,211 | 32,834,854 | 9,495,942 | 57,618,109 | |
115,887,234 | 136,064,848 | 424,434,766 | 589,312,473 | ||
Cost of shares redeemed | (62,657,833) | (92,306,082) | (191,654,712) | (182,443,505) | |
Net increase (decrease) in net assets from Fund share transactions | 53,229,401 | 43,758,766 | 232,780,054 | 406,868,968 | |
Net increase (decrease) in net assets | (50,895,706) | 86,950,646 | 123,751,799 | 474,986,831 | |
Net assets at the beginning of period | 496,987,481 | 410,036,835 | 863,863,068 | 388,876,237 | |
Net assets at the end of period | $446,091,775 | $496,987,481 | $987,614,867 | $863,863,068 |
(1) | Prior period amounts have been conformed to current year presentation. See Notes to Financial Statements, Note 9 - New Accounting Pronouncements for further details. |
(2) | The composition and per share amounts of the Fund's distributions are presented in the Financial Highlights. The distribution information for the Fund as of its most recent tax year end is presented within the Notes to Financial Statements, Note 6 - Income Tax Information. |
(3) | For the fiscal year ended August 31, 2018, Large Cap Value, Large Cap Core and Large Cap Growth's distributions to shareholders were paid from net investment income and accumulated net realized gains, while Equity Long/Short and Equity Market Neutral's distributions were paid from accumulated net realized gains. |
(4) | Class T Shares were not available for public offering. |
Large Cap Growth | Equity Long/Short | ||||
Six Months Ended 2/28/19 | Year Ended(1) 8/31/18 | Six Months Ended 2/28/19 | Year Ended(1) 8/31/18 | ||
Operations | |||||
Net investment income (loss) | $1,201,621 | $892,888 | $733,285 | $(1,007,444) | |
Net realized gain (loss) from: | |||||
Investments | 28,495,516 | 63,645,646 | (25,240,903) | 18,816,655 | |
Common stocks sold short | — | — | (3,114,128) | (14,451,946) | |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments | (77,428,186) | 6,796,727 | (23,735,020) | 31,815,981 | |
Common stocks sold short | — | — | 12,539,314 | (6,578,608) | |
Net increase (decrease) in net assets from operations | (47,731,049) | 71,335,261 | (38,817,452) | 28,594,638 | |
Distributions to Common Shareholders(2) | |||||
Dividends(3) | |||||
Class A Shares | (10,931,273) | (17,418,849) | (723,620) | (513,454) | |
Class C Shares | (3,606,164) | (3,468,934) | (300,346) | (172,650) | |
Class R3 Shares | — | — | — | — | |
Class R6 Shares | (2,056,913) | (2,323,597) | — | — | |
Class I Shares | (17,669,250) | (32,120,226) | (4,267,198) | (1,469,822) | |
Class T Shares(4) | — | — | — | — | |
Decrease in net assets from distributions to shareholders | (34,263,600) | (55,331,606) | (5,291,164) | (2,155,926) | |
Fund Share Transactions | |||||
Fund reorganization | — | 453,660,930 | — | — | |
Proceeds from sale of shares | 32,377,824 | 65,989,401 | 190,385,126 | 279,381,542 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 29,302,917 | 43,692,434 | 5,279,421 | 2,150,344 | |
61,680,741 | 563,342,765 | 195,664,547 | 281,531,886 | ||
Cost of shares redeemed | (126,813,367) | (155,530,927) | (137,640,234) | (38,931,086) | |
Net increase (decrease) in net assets from Fund share transactions | (65,132,626) | 407,811,838 | 58,024,313 | 242,600,800 | |
Net increase (decrease) in net assets | (147,127,275) | 423,815,493 | 13,915,697 | 269,039,512 | |
Net assets at the beginning of period | 504,421,442 | 80,605,949 | 374,719,698 | 105,680,186 | |
Net assets at the end of period | $357,294,167 | $504,421,442 | $388,635,395 | $374,719,698 |
(1) | Prior period amounts have been conformed to current year presentation. See Notes to Financial Statements, Note 9 - New Accounting Pronouncements for further details. |
(2) | The composition and per share amounts of the Fund's distributions are presented in the Financial Highlights. The distribution information for the Fund as of its most recent tax year end is presented within the Notes to Financial Statements, Note 6 - Income Tax Information. |
(3) | For the fiscal year ended August 31, 2018, Large Cap Value, Large Cap Core and Large Cap Growth's distributions to shareholders were paid from net investment income and accumulated net realized gains, while Equity Long/Short and Equity Market Neutral's distributions were paid from accumulated net realized gains. |
(4) | Class T Shares were not available for public offering. |
Equity Market Neutral | ||
Six Months Ended 2/28/19 | Year Ended(1) 8/31/18 | |
Operations | ||
Net investment income (loss) | $570,813 | $(624,908) |
Net realized gain (loss) from: | ||
Investments | (1,856,920) | 9,314,648 |
Common stocks sold short | (4,724,665) | (7,540,338) |
Change in net unrealized appreciation (depreciation) of: | ||
Investments | 585,468 | 11,439,713 |
Common stocks sold short | (28,289,848) | (6,422,092) |
Net increase (decrease) in net assets from operations | (33,715,152) | 6,167,023 |
Distributions to Common Shareholders(2) | ||
Dividends(3) | ||
Class A Shares | (190,467) | (229,852) |
Class C Shares | (55,468) | (48,318) |
Class R3 Shares | — | — |
Class R6 Shares | — | — |
Class I Shares | (2,400,973) | (1,526,839) |
Class T Shares(4) | — | — |
Decrease in net assets from distributions to shareholders | (2,646,908) | (1,805,009) |
Fund Share Transactions | ||
Fund reorganization | — | — |
Proceeds from sale of shares | 639,307,625 | 214,500,477 |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 2,553,219 | 1,548,107 |
641,860,844 | 216,048,584 | |
Cost of shares redeemed | (144,205,774) | (30,944,613) |
Net increase (decrease) in net assets from Fund share transactions | 497,655,070 | 185,103,971 |
Net increase (decrease) in net assets | 461,293,010 | 189,465,985 |
Net assets at the beginning of period | 256,744,193 | 67,278,208 |
Net assets at the end of period | $718,037,203 | $256,744,193 |
(1) | Prior period amounts have been conformed to current year presentation. See Notes to Financial Statements, Note 9 - New Accounting Pronouncements for further details. |
(2) | The composition and per share amounts of the Fund's distributions are presented in the Financial Highlights. The distribution information for the Fund as of its most recent tax year end is presented within the Notes to Financial Statements, Note 6 - Income Tax Information. |
(3) | For the fiscal year ended August 31, 2018, Large Cap Value, Large Cap Core and Large Cap Growth's distributions to shareholders were paid from net investment income and accumulated net realized gains, while Equity Long/Short and Equity Market Neutral's distributions were paid from accumulated net realized gains. |
(4) | Class T Shares were not available for public offering. |
Equity Long/ Short | Equity Market Neutral | |
Cash Flows from Operating Activities: | ||
Net Increase (Decrease) in Net Assets from Operations | $(38,817,452) | $(33,715,152) |
Adjustments to reconcile the net increase (decrease) in net assets from operations to net cash provided by (used in) operating activities: | ||
Purchases of investments | (490,464,189) | (533,672,531) |
Purchases of common stock sold short | (300,230,493) | (145,437,562) |
Proceeds from sales | 370,075,545 | 149,909,435 |
Proceeds from sales of common stock sold short | 311,347,232 | 396,469,115 |
Proceeds from (Purchase of) short-term investments, net | (29,841,791) | (118,772,566) |
Securities litigation | 29 | 18,596 |
(Increase) Decrease in: | ||
Receivable for dividends | (267,512) | (397,520) |
Receivable for interest | (995) | (4,702) |
Receivable for investments sold | 809,798 | (9,361,361) |
Other assets | 13,976 | (18,356) |
Increase (Decrease) in: | ||
Payable for dividends on common stock sold short | 169,475 | 468,807 |
Payable for investments purchased | (971,761) | 14,010,390 |
Accrued management fees | (25,796) | 382,487 |
Accrued trustees fees | 2,402 | 3,061 |
Accrued shareholder servicing agent fees | 92,875 | 103,479 |
Accrued 12b-1 distribution and service fees | 259 | 7,980 |
Accrued other expenses | (73,313) | (9,842) |
Net realized (gain) loss from: | ||
Investments | 25,240,903 | 1,856,920 |
Common stocks sold short | 3,114,128 | 4,724,665 |
Change in net unrealized (appreciation) depreciation of: | ||
Investments | 23,735,020 | (585,468) |
Common stocks sold short | (12,539,314) | 28,289,848 |
Net cash provided by (used in) operating activities | (138,630,974) | (245,730,277) |
Cash Flows from Financing Activities: | ||
Cash distributions paid to shareholders | (11,743) | (93,689) |
Proceeds from sale of shares | 193,612,042 | 632,936,033 |
Cost of shares redeemed | (136,460,236) | (141,709,948) |
Net cash provided by (used in) financing activities | 57,140,063 | 491,132,396 |
Net Increase (Decrease) in Cash and Cash Collateral at Brokers | (81,490,911) | 245,402,119 |
Cash and cash collateral at brokers at the beginning of period | 162,090,451 | 178,900,942 |
Cash and cash collateral at brokers at the end of period | 80,599,540 | 424,303,061 |
Equity Long/ Short | Equity Market Neutral | |
Supplemental Disclosure of Cash Flow Information | ||
Non-cash financing activities not included herein consists of reinvestments of share distributions | $5,279,421 | 2,553,219 |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (08/96) | |||||||||
2019(e) | $28.18 | $0.16 | $(2.96) | $(2.80) | $(0.24) | $(2.92) | $(3.16) | $22.22 | |
2018 | 25.94 | 0.24 | 4.63 | 4.87 | (0.36) | (2.27) | (2.63) | 28.18 | |
2017 | 22.73 | 0.23 | 3.31 | 3.54 | (0.33) | — | (0.33) | 25.94 | |
2016 | 23.58 | 0.32 | 0.98 | 1.30 | (0.24) | (1.91) | (2.15) | 22.73 | |
2015 | 28.36 | 0.27 | (1.77) | (1.50) | (0.21) | (3.07) | (3.28) | 23.58 | |
2014 | 25.15 | 0.31 | 6.09 | 6.40 | (0.36) | (2.83) | (3.19) | 28.36 | |
Class C (08/96) | |||||||||
2019(e) | 26.84 | 0.07 | (2.81) | (2.74) | (0.04) | (2.92) | (2.96) | 21.14 | |
2018 | 24.77 | 0.03 | 4.43 | 4.46 | (0.12) | (2.27) | (2.39) | 26.84 | |
2017 | 21.72 | 0.05 | 3.16 | 3.21 | (0.16) | — | (0.16) | 24.77 | |
2016 | 22.60 | 0.15 | 0.93 | 1.08 | (0.05) | (1.91) | (1.96) | 21.72 | |
2015 | 27.31 | 0.07 | (1.70) | (1.63) | (0.01) | (3.07) | (3.08) | 22.60 | |
2014 | 24.33 | 0.10 | 5.88 | 5.98 | (0.17) | (2.83) | (3.00) | 27.31 | |
Class R3 (08/08) | |||||||||
2019(e) | 28.43 | 0.14 | (2.98) | (2.84) | (0.18) | (2.92) | (3.10) | 22.49 | |
2018 | 26.10 | 0.17 | 4.67 | 4.84 | (0.24) | (2.27) | (2.51) | 28.43 | |
2017 | 22.87 | 0.16 | 3.34 | 3.50 | (0.27) | — | (0.27) | 26.10 | |
2016 | 23.71 | 0.28 | 0.97 | 1.25 | (0.18) | (1.91) | (2.09) | 22.87 | |
2015 | 28.50 | 0.19 | (1.76) | (1.57) | (0.15) | (3.07) | (3.22) | 23.71 | |
2014 | 25.27 | 0.24 | 6.12 | 6.36 | (0.30) | (2.83) | (3.13) | 28.50 | |
Class R6 (06/16) | |||||||||
2019(e) | 28.35 | 0.20 | (2.99) | (2.79) | (0.31) | (2.92) | (3.23) | 22.33 | |
2018 | 26.12 | 0.32 | 4.67 | 4.99 | (0.49) | (2.27) | (2.76) | 28.35 | |
2017 | 22.88 | 0.31 | 3.34 | 3.65 | (0.41) | — | (0.41) | 26.12 | |
2016(f) | 21.66 | 0.06 | 1.16 | 1.22 | — | — | — | 22.88 | |
Class I (08/96) | |||||||||
2019(e) | 28.33 | 0.20 | (2.99) | (2.79) | (0.31) | (2.92) | (3.23) | 22.31 | |
2018 | 26.12 | 0.30 | 4.67 | 4.97 | (0.49) | (2.27) | (2.76) | 28.33 | |
2017 | 22.88 | 0.29 | 3.33 | 3.62 | (0.38) | — | (0.38) | 26.12 | |
2016 | 23.73 | 0.37 | 0.99 | 1.36 | (0.30) | (1.91) | (2.21) | 22.88 | |
2015 | 28.52 | 0.34 | (1.78) | (1.44) | (0.28) | (3.07) | (3.35) | 23.73 | |
2014 | 25.28 | 0.37 | 6.13 | 6.50 | (0.43) | (2.83) | (3.26) | 28.52 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | ||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(d) | |
(8.89)% | $248,909 | 1.03%* | 1.33%* | 1.00%* | 1.36%* | 85% | |
20.30 | 293,656 | 1.05 | 0.87 | 1.03 | 0.89 | 169 | |
15.63 | 252,902 | 1.05 | 0.92 | 1.05 | 0.92 | 152 | |
6.26 | 240,572 | 1.10 | 1.44 | 1.10 | 1.44 | 141 | |
(5.75) | 267,337 | 1.12 | 1.01 | 1.12 | 1.01 | 158 | |
27.40 | 294,917 | 1.11 | 1.16 | 1.11 | 1.16 | 153 | |
(9.22) | 18,691 | 1.78* | 0.58* | 1.75* | 0.61* | 85 | |
19.38 | 21,195 | 1.80 | 0.09 | 1.78 | 0.12 | 169 | |
14.79 | 19,868 | 1.80 | 0.19 | 1.80 | 0.19 | 152 | |
5.46 | 27,588 | 1.85 | 0.70 | 1.85 | 0.70 | 141 | |
(6.45) | 31,516 | 1.87 | 0.26 | 1.87 | 0.26 | 158 | |
26.47 | 26,628 | 1.86 | 0.41 | 1.86 | 0.41 | 153 | |
(9.00) | 468 | 1.29* | 1.12* | 1.25* | 1.16* | 85 | |
19.99 | 208 | 1.30 | 0.62 | 1.28 | 0.64 | 169 | |
15.38 | 211 | 1.29 | 0.63 | 1.29 | 0.63 | 152 | |
5.97 | 186 | 1.34 | 1.25 | 1.34 | 1.25 | 141 | |
(5.99) | 232 | 1.37 | 0.73 | 1.37 | 0.73 | 158 | |
27.11 | 135 | 1.36 | 0.92 | 1.36 | 0.92 | 153 | |
(8.77) | 15,469 | 0.72* | 1.64* | 0.69* | 1.67* | 85 | |
20.69 | 17,514 | 0.76 | 1.18 | 0.73 | 1.20 | 169 | |
16.02 | 17,991 | 0.73 | 1.23 | 0.73 | 1.23 | 152 | |
5.63 | 19,773 | 0.73* | 1.48* | 0.73* | 1.48 | 141 | |
(8.78) | 162,555 | 0.78* | 1.59* | 0.75* | 1.62* | 85 | |
20.60 | 164,387 | 0.80 | 1.10 | 0.77 | 1.13 | 169 | |
15.92 | 119,038 | 0.80 | 1.17 | 0.80 | 1.17 | 152 | |
6.53 | 99,927 | 0.85 | 1.69 | 0.85 | 1.69 | 141 | |
(5.52) | 103,342 | 0.86 | 1.29 | 0.86 | 1.29 | 158 | |
27.74 | 104,875 | 0.86 | 1.40 | 0.86 | 1.40 | 153 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(e) | For the six months ended February 28, 2019. |
(f) | For the period June 30, 2016 (commencement of operations) through August 31, 2016. |
* | Annualized. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (06/13) | |||||||||
2019(e) | $34.81 | $0.15 | $(3.66) | $(3.51) | $(0.12) | $(0.21) | $(0.33) | $30.97 | |
2018 | 31.25 | 0.18 | 7.24 | 7.42 | (0.19) | (3.67) | (3.86) | 34.81 | |
2017 | 27.03 | 0.18 | 4.24 | 4.42 | (0.20) | — | (0.20) | 31.25 | |
2016 | 25.64 | 0.22 | 1.71 | 1.93 | (0.15) | (0.39) | (0.54) | 27.03 | |
2015 | 26.67 | 0.23 | (0.69) | (0.46) | (0.02) | (0.55) | (0.57) | 25.64 | |
2014 | 20.49 | 0.19 | 6.42 | 6.61 | (0.08) | (0.35) | (0.43) | 26.67 | |
Class C (06/13) | |||||||||
2019(e) | 34.17 | 0.03 | (3.58) | (3.55) | — | (0.21) | (0.21) | 30.41 | |
2018 | 30.78 | (0.07) | 7.13 | 7.06 | — | (3.67) | (3.67) | 34.17 | |
2017 | 26.64 | (0.05) | 4.19 | 4.14 | —** | — | —** | 30.78 | |
2016 | 25.32 | 0.02 | 1.69 | 1.71 | — | (0.39) | (0.39) | 26.64 | |
2015 | 26.51 | 0.02 | (0.66) | (0.64) | — | (0.55) | (0.55) | 25.32 | |
2014 | 20.46 | 0.01 | 6.39 | 6.40 | — | (0.35) | (0.35) | 26.51 | |
Class R6 (06/16) | |||||||||
2019(e) | 34.80 | 0.20 | (3.66) | (3.46) | (0.21) | (0.21) | (0.42) | 30.92 | |
2018 | 31.33 | 0.28 | 7.24 | 7.52 | (0.38) | (3.67) | (4.05) | 34.80 | |
2017 | 27.08 | 0.27 | 4.26 | 4.53 | (0.28) | — | (0.28) | 31.33 | |
2016(f) | 25.46 | 0.05 | 1.57 | 1.62 | — | — | — | 27.08 | |
Class I (06/13) | |||||||||
2019(e) | 34.76 | 0.19 | (3.66) | (3.47) | (0.21) | (0.21) | (0.42) | 30.87 | |
2018 | 31.31 | 0.27 | 7.23 | 7.50 | (0.38) | (3.67) | (4.05) | 34.76 | |
2017 | 27.08 | 0.24 | 4.25 | 4.49 | (0.26) | — | (0.26) | 31.31 | |
2016 | 25.69 | 0.28 | 1.72 | 2.00 | (0.22) | (0.39) | (0.61) | 27.08 | |
2015 | 26.71 | 0.30 | (0.68) | (0.38) | (0.09) | (0.55) | (0.64) | 25.69 | |
2014 | 20.50 | 0.25 | 6.41 | 6.66 | (0.10) | (0.35) | (0.45) | 26.71 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | ||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(d) | |
(9.99)% | $107,984 | 1.02%* | 0.92%* | 0.98%* | 0.96%* | 64% | |
25.00 | 104,779 | 1.01 | 0.53 | 1.00 | 0.55 | 117 | |
16.41 | 55,756 | 1.06 | 0.56 | 1.01 | 0.60 | 121 | |
7.66 | 47,518 | 1.11 | 0.84 | 1.11 | 0.85 | 132 | |
(1.76) | 37,684 | 1.14 | 0.84 | 1.14 | 0.84 | 110 | |
32.63 | 6,726 | 1.26 | 0.69 | 1.17 | 0.78 | 122 | |
(10.35) | 111,646 | 1.77* | 0.16* | 1.73* | 0.20* | 64 | |
24.06 | 110,300 | 1.76 | (0.22) | 1.75 | (0.20) | 117 | |
15.55 | 59,610 | 1.81 | (0.21) | 1.76 | (0.16) | 121 | |
6.86 | 47,805 | 1.86 | 0.09 | 1.85 | 0.10 | 132 | |
(2.47) | 38,591 | 1.89 | 0.09 | 1.89 | 0.09 | 110 | |
31.61 | 4,937 | 1.99 | (0.02) | 1.92 | 0.06 | 122 | |
(9.84) | 130,319 | 0.70* | 1.22* | 0.66* | 1.26* | 64 | |
25.36 | 139,631 | 0.71 | 0.81 | 0.70 | 0.82 | 117 | |
16.81 | 17,095 | 0.74 | 0.87 | 0.70 | 0.91 | 121 | |
6.36 | 18,489 | 0.74* | 1.05* | 0.69* | 1.10* | 132 | |
(9.88) | 637,666 | 0.77* | 1.18* | 0.73* | 1.22* | 64 | |
25.31 | 509,125 | 0.76 | 0.79 | 0.75 | 0.80 | 117 | |
16.68 | 256,389 | 0.81 | 0.79 | 0.76 | 0.83 | 121 | |
7.93 | 140,976 | 0.86 | 1.09 | 0.86 | 1.10 | 132 | |
(1.49) | 153,632 | 0.89 | 1.11 | 0.89 | 1.11 | 110 | |
32.92 | 57,360 | 1.01 | 0.93 | 0.92 | 1.02 | 122 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(e) | For the six months ended February 28, 2019. |
(f) | For the period June 30, 2016 (commencement of operations) through August 31, 2016. |
* | Annualized. |
** | Rounds to less than $.01 per share. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (06/13) | |||||||||
2019(e) | $30.82 | $0.07 | $(3.02) | $(2.95) | $ — | $(2.38) | $(2.38) | $25.49 | |
2018 | 30.34 | 0.06 | 7.39 | 7.45 | (0.12) | (6.85) | (6.97) | 30.82 | |
2017 | 25.69 | 0.09 | 4.75 | 4.84 | (0.19) | — | (0.19) | 30.34 | |
2016 | 25.28 | 0.13 | 1.24 | 1.37 | (0.09) | (0.87) | (0.96) | 25.69 | |
2015 | 26.34 | 0.15 | (0.15) | — | (0.03) | (1.03) | (1.06) | 25.28 | |
2014 | 20.59 | 0.17 | 6.03 | 6.20 | (0.07) | (0.38) | (0.45) | 26.34 | |
Class C (06/13) | |||||||||
2019(e) | 30.02 | (0.03) | (2.95) | (2.98) | — | (2.38) | (2.38) | 24.66 | |
2018 | 29.80 | (0.18) | 7.25 | 7.07 | — | (6.85) | (6.85) | 30.02 | |
2017 | 25.25 | (0.13) | 4.68 | 4.55 | —** | — | —** | 29.80 | |
2016 | 24.96 | (0.05) | 1.21 | 1.16 | — | (0.87) | (0.87) | 25.25 | |
2015 | 26.18 | (0.06) | (0.13) | (0.19) | — | (1.03) | (1.03) | 24.96 | |
2014 | 20.56 | (0.01) | 6.01 | 6.00 | — | (0.38) | (0.38) | 26.18 | |
Class R6 (06/16) | |||||||||
2019(e) | 30.89 | 0.12 | (3.04) | (2.92) | (0.02) | (2.38) | (2.40) | 25.57 | |
2018 | 30.40 | 0.17 | 7.41 | 7.58 | (0.24) | (6.85) | (7.09) | 30.89 | |
2017 | 25.73 | 0.17 | 4.77 | 4.94 | (0.27) | — | (0.27) | 30.40 | |
2016(f) | 24.27 | 0.03 | 1.43 | 1.46 | — | — | — | 25.73 | |
Class I (06/13) | |||||||||
2019(e) | 30.86 | 0.10 | (3.03) | (2.93) | (0.02) | (2.38) | (2.40) | 25.53 | |
2018 | 30.39 | 0.14 | 7.42 | 7.56 | (0.24) | (6.85) | (7.09) | 30.86 | |
2017 | 25.73 | 0.15 | 4.76 | 4.91 | (0.25) | — | (0.25) | 30.39 | |
2016 | 25.33 | 0.20 | 1.23 | 1.43 | (0.16) | (0.87) | (1.03) | 25.73 | |
2015 | 26.38 | 0.21 | (0.14) | 0.07 | (0.09) | (1.03) | (1.12) | 25.33 | |
2014 | 20.60 | 0.24 | 6.02 | 6.26 | (0.10) | (0.38) | (0.48) | 26.38 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | ||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(d) | |
(8.82)% | $120,216 | 1.12%* | 0.39%* | 0.99%* | 0.52%* | 61% | |
26.31 | 155,549 | 1.12 | 0.08 | 1.01 | 0.19 | 128 | |
18.94 | 11,933 | 1.18 | 0.15 | 1.02 | 0.32 | 136 | |
5.57 | 13,654 | 1.22 | 0.47 | 1.15 | 0.53 | 117 | |
0.00 | 31,442 | 1.24 | 0.49 | 1.16 | 0.56 | 118 | |
30.45 | 10,734 | 1.35 | 0.53 | 1.17 | 0.72 | 145 | |
(9.17) | 37,134 | 1.87* | (0.36)* | 1.74* | (0.23)* | 61 | |
25.39 | 49,303 | 1.87 | (0.66) | 1.76 | (0.55) | 128 | |
18.04 | 10,130 | 1.94 | (0.62) | 1.77 | (0.46) | 136 | |
4.77 | 9,344 | 1.98 | (0.30) | 1.89 | (0.22) | 117 | |
(0.74) | 7,621 | 1.99 | (0.29) | 1.91 | (0.22) | 118 | |
29.49 | 2,187 | 2.11 | (0.22) | 1.92 | (0.03) | 145 | |
(8.68) | 24,071 | 0.79* | 0.75* | 0.65* | 0.88* | 61 | |
26.76 | 27,417 | 0.78 | 0.43 | 0.67 | 0.54 | 128 | |
19.31 | 31 | 0.89 | 0.43 | 0.72 | 0.60 | 136 | |
6.02 | 27 | 0.85* | 0.65* | 0.70* | 0.81* | 117 | |
(8.73) | 175,873 | 0.87* | 0.61* | 0.74* | 0.74* | 61 | |
26.69 | 272,152 | 0.87 | 0.31 | 0.76 | 0.43 | 128 | |
19.22 | 58,512 | 0.94 | 0.38 | 0.77 | 0.54 | 136 | |
5.80 | 47,945 | 0.97 | 0.71 | 0.89 | 0.79 | 117 | |
0.28 | 58,478 | 0.99 | 0.72 | 0.91 | 0.79 | 118 | |
30.74 | 27,478 | 1.10 | 0.81 | 0.92 | 0.99 | 145 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(e) | For the six months ended February 28, 2019. |
(f) | For the period June 30, 2016 (commencement of operations) through August 31, 2016. |
* | Annualized. |
** | Rounds to less than $.01 per share. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (12/08) | |||||||||
2019(f) | $44.58 | $0.04 | $(4.06) | $(4.02) | $ — | $(0.55) | $(0.55) | $40.01 | |
2018 | 38.60 | (0.30) | 6.94 | 6.64 | — | (0.66) | (0.66) | 44.58 | |
2017 | 32.61 | (0.39) | 6.38 | 5.99 | — | — | — | 38.60 | |
2016 | 32.61 | (0.11) | 0.11 | — | — | — | — | 32.61 | |
2015 | 31.72 | (0.26) | 1.23 | 0.97 | — | (0.08) | (0.08) | 32.61 | |
2014 | 28.72 | (0.23) | 4.78 | 4.55 | — | (1.55) | (1.55) | 31.72 | |
Class C (12/08) | |||||||||
2019(f) | 41.11 | (0.10) | (3.74) | (3.84) | — | (0.55) | (0.55) | 36.72 | |
2018 | 35.91 | (0.56) | 6.42 | 5.86 | — | (0.66) | (0.66) | 41.11 | |
2017 | 30.57 | (0.62) | 5.96 | 5.34 | — | — | — | 35.91 | |
2016 | 30.80 | (0.33) | 0.10 | (0.23) | — | — | — | 30.57 | |
2015 | 30.19 | (0.48) | 1.17 | 0.69 | — | (0.08) | (0.08) | 30.80 | |
2014 | 27.60 | (0.43) | 4.57 | 4.14 | — | (1.55) | (1.55) | 30.19 | |
Class I (12/08) | |||||||||
2019(f) | 45.73 | 0.10 | (4.18) | (4.08) | — | (0.55) | (0.55) | 41.10 | |
2018 | 39.48 | (0.17) | 7.08 | 6.91 | — | (0.66) | (0.66) | 45.73 | |
2017 | 33.27 | (0.31) | 6.52 | 6.21 | — | — | — | 39.48 | |
2016 | 33.18 | (0.06) | 0.15 | 0.09 | — | — | — | 33.27 | |
2015 | 32.20 | (0.16) | 1.22 | 1.06 | — | (0.08) | (0.08) | 33.18 | |
2014 | 29.10 | (0.12) | 4.81 | 4.69 | (0.04) | (1.55) | (1.59) | 32.20 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement(d) | Ratios to Average Net Assets After Waiver/Reimbursement(c) (d) | ||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(e) | |
(9.02)% | $56,427 | 2.62%* | 0.12%* | 2.54%* | 0.21%* | 134% | |
17.35 | 55,183 | 2.73 | (0.81) | 2.63 | (0.70) | 213 | |
18.37 | 26,802 | 3.54 | (1.27) | 3.36 | (1.09) | 186 | |
0.00 | 26,012 | 3.78 | (0.53) | 3.58 | (0.33) | 224 | |
3.06 | 24,821 | 3.76 | (1.03) | 3.53 | (0.79) | 222 | |
16.06 | 13,697 | 4.24 | (1.53) | 3.46 | (0.75) | 232 | |
(9.34) | 21,477 | 3.38* | (0.62)* | 3.29* | (0.53)* | 134 | |
16.47 | 19,561 | 3.47 | (1.54) | 3.37 | (1.44) | 213 | |
17.47 | 8,596 | 4.28 | (2.04) | 4.10 | (1.86) | 186 | |
(0.75) | 8,236 | 4.53 | (1.29) | 4.34 | (1.09) | 224 | |
2.28 | 8,087 | 4.52 | (1.76) | 4.29 | (1.53) | 222 | |
15.20 | 4,080 | 5.04 | (2.30) | 4.21 | (1.47) | 232 | |
(8.92) | 310,732 | 2.38* | 0.38* | 2.29* | 0.46* | 134 | |
17.65 | 299,977 | 2.47 | (0.49) | 2.37 | (0.39) | 213 | |
18.67 | 70,282 | 3.26 | (1.04) | 3.08 | (0.86) | 186 | |
0.27 | 48,905 | 3.52 | (0.37) | 3.33 | (0.18) | 224 | |
3.29 | 53,559 | 3.52 | (0.72) | 3.28 | (0.48) | 222 | |
16.34 | 16,216 | 4.20 | (1.33) | 3.27 | (0.40) | 232 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(d) | Each ratio includes the effect of dividends expense on common stocks sold short and prime broker expenses as shown in the following table. In the event the Fund earn credits as an element of its prime broker fee agreement, and such earned credits exceed prime brokerage fees, the Fund's prime broker expense for the reporting period will be zero. See Note 3 - Portfolio Securities and Investments in Derivatives, Short Sale Transactions for more information. |
Ratios of Dividends Expense on Common Stocks Sold Short to Average Net Assets | Ratios of Prime Broker Expenses to Average Net Assets | ||||||
Year Ended August 31, | Class A | Class C | Class I | Class A | Class C | Class I | |
2019 (f) | 0.93%* | 0.93%* | 0.93%* | —% | —% | —% | |
2018 | 1.01 | 1.01 | 1.00 | — | — | — | |
2017 | 1.18 | 1.17 | 1.18 | 0.56 | 0.56 | 0.54 | |
2016 | 1.19 | 1.20 | 1.20 | 0.77 | 0.77 | 0.77 | |
2015 | 1.17 | 1.19 | 1.17 | 0.74 | 0.74 | 0.75 | |
2014 | 1.12 | 1.11 | 1.12 | 0.72 | 0.74 | 0.78 |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(f) | For the six months ended February 28, 2019. |
* | Annualized. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (06/13) | |||||||||
2019(f) | $24.50 | $ —** | $(0.72) | $(0.72) | $ — | $(0.14) | $(0.14) | $23.64 | |
2018 | 23.31 | (0.16) | 1.85 | 1.69 | — | (0.50) | (0.50) | 24.50 | |
2017 | 21.64 | (0.33) | 2.00 | 1.67 | — | — | — | 23.31 | |
2016 | 21.39 | (0.28) | 0.90 | 0.62 | — | (0.37) | (0.37) | 21.64 | |
2015 | 21.27 | (0.32) | 0.50 | 0.18 | — | (0.06) | (0.06) | 21.39 | |
2014 | 20.53 | (0.44) | 1.38 | 0.94 | — | (0.20) | (0.20) | 21.27 | |
Class C (06/13) | |||||||||
2019(f) | 23.54 | (0.08) | (0.69) | (0.77) | — | (0.14) | (0.14) | 22.63 | |
2018 | 22.59 | (0.33) | 1.78 | 1.45 | — | (0.50) | (0.50) | 23.54 | |
2017 | 21.13 | (0.48) | 1.94 | 1.46 | — | — | — | 22.59 | |
2016 | 21.04 | (0.44) | 0.90 | 0.46 | — | (0.37) | (0.37) | 21.13 | |
2015 | 21.08 | (0.47) | 0.49 | 0.02 | — | (0.06) | (0.06) | 21.04 | |
2014 | 20.50 | (0.58) | 1.36 | 0.78 | — | (0.20) | (0.20) | 21.08 | |
Class I (06/13) | |||||||||
2019(f) | 24.83 | 0.04 | (0.74) | (0.70) | — | (0.14) | (0.14) | 23.99 | |
2018 | 23.57 | (0.10) | 1.86 | 1.76 | — | (0.50) | (0.50) | 24.83 | |
2017 | 21.82 | (0.26) | 2.01 | 1.75 | — | — | — | 23.57 | |
2016 | 21.51 | (0.23) | 0.91 | 0.68 | — | (0.37) | (0.37) | 21.82 | |
2015 | 21.34 | (0.27) | 0.50 | 0.23 | — | (0.06) | (0.06) | 21.51 | |
2014 | 20.54 | (0.38) | 1.38 | 1.00 | — | (0.20) | (0.20) | 21.34 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement(d) | Ratios to Average Net Assets After Waiver/Reimbursement(c) (d) | ||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(e) | |
(2.99)% | $40,494 | 2.34%* | (0.04)%* | 2.27%* | 0.03%* | 203% | |
7.28 | 23,725 | 2.71 | (0.81) | 2.55 | (0.65) | 156 | |
7.72 | 6,146 | 3.32 | (1.70) | 3.05 | (1.44) | 159 | |
2.86 | 9,289 | 3.29 | (1.47) | 3.10 | (1.28) | 187 | |
0.86 | 8,972 | 3.49 | (1.73) | 3.24 | (1.48) | 173 | |
4.55 | 7,880 | 3.52 | (2.33) | 3.26 | (2.07) | 187 | |
(3.32) | 12,523 | 3.11* | (0.77)* | 3.04* | (0.70)* | 203 | |
6.44 | 5,186 | 3.46 | (1.56) | 3.30 | (1.40) | 156 | |
6.91 | 2,110 | 4.03 | (2.44) | 3.76 | (2.17) | 159 | |
2.14 | 2,109 | 4.06 | (2.23) | 3.87 | (2.04) | 187 | |
0.10 | 1,835 | 4.22 | (2.49) | 3.97 | (2.24) | 173 | |
3.77 | 1,768 | 4.28 | (3.05) | 4.02 | (2.79) | 187 | |
(2.87) | 665,020 | 2.12* | 0.21* | 2.05* | 0.28* | 203 | |
7.50 | 227,833 | 2.45 | (0.55) | 2.29 | (0.40) | 156 | |
8.02 | 59,022 | 3.02 | (1.43) | 2.75 | (1.16) | 159 | |
3.12 | 49,990 | 3.06 | (1.23) | 2.87 | (1.04) | 187 | |
1.09 | 35,162 | 3.21 | (1.51) | 2.97 | (1.26) | 173 | |
4.84 | 32,668 | 3.37 | (2.08) | 3.08 | (1.79) | 187 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(d) | Each ratio includes the effect of dividends expense on common stocks sold short and prime broker expenses as shown in the following table. In the event the Fund earn credits as an element of its prime broker fee agreement, and such earned credits exceed prime brokerage fees, the Fund's prime broker expense for the reporting period will be zero. See Note 3 - Portfolio Securities and Investments in Derivatives, Short Sale Transactions for more information. |
Ratios of Dividends Expense on Common Stocks Sold Short to Average Net Assets | Ratios of Prime Broker Expenses to Average Net Assets | ||||||
Year Ended August 31, | Class A | Class C | Class I | Class A | Class C | Class I | |
2019 (f) | 0.66%* | 0.68%* | 0.69%* | —% | —% | —% | |
2018 | 0.94 | 0.94 | 0.93 | — | — | — | |
2017 | 1.40 | 1.39 | 1.39 | 0.05 | 0.01 | — | |
2016 | 1.03 | 1.04 | 1.04 | 0.46 | 0.46 | 0.46 | |
2015 | 1.04 | 1.03 | 1.03 | 0.59 | 0.58 | 0.57 | |
2014 | 1.09 | 1.06 | 1.02 | 0.55 | 0.59 | 0.70 |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(f) | For the six months ended February 28, 2019. |
* | Annualized. |
** | Rounds to less than $.01 per share. |
Large Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $440,657,571 | $ — | $ — | $440,657,571 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 3,561,976 | — | 3,561,976 |
Total | $440,657,571 | $3,561,976 | $ — | $444,219,547 |
Large Cap Core | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $984,482,910 | $ — | $ — | $984,482,910 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 2,141,747 | — | 2,141,747 |
Total | $984,482,910 | $2,141,747 | $ — | $986,624,657 |
Large Cap Growth | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $354,622,869 | $ — | $ — | $354,622,869 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 2,475,656 | — | 2,475,656 |
Total | $354,622,869 | $2,475,656 | $ — | $357,098,525 |
Equity Long/Short | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $539,437,504 | $ — | $ — | $539,437,504 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 29,841,791 | — | 29,841,791 |
Common Stocks Sold Short* | (260,649,339) | — | — | (260,649,339) |
Total | $278,788,165 | $29,841,791 | $ — | $308,629,956 |
Equity Market Neutral | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $508,740,001 | $ — | $ — | $508,740,001 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 207,893,116 | — | 207,893,116 |
Common Stocks Sold Short* | (420,109,544) | — | — | (420,109,544) |
Total | $88,630,457 | $207,893,116 | $ — | $296,523,573 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty* | Net Exposure |
Large Cap Value | Fixed Income Clearing Corporation | $3,561,976 | $(3,561,976) | $ — |
Large Cap Core | Fixed Income Clearing Corporation | 2,141,747 | (2,141,747) | — |
Large Cap Growth | Fixed Income Clearing Corporation | 2,475,656 | (2,475,656) | — |
Equity Long/Short | Fixed Income Clearing Corporation | 29,841,791 | (29,841,791) | — |
Equity Market Neutral | Fixed Income Clearing Corporation | 207,893,116 | (207,893,116) | — |
Six Months Ended 2/28/19 | Year Ended 8/31/18 | ||||
Large Cap Value | Shares | Amount | Shares | Amount | |
Shares issued in the Reorganization: | |||||
Class A | — | $ — | 580,980 | $14,242,279 | |
Class C | — | — | 237,890 | 5,574,510 | |
Class R3 | — | — | — | — | |
Class R6 | — | — | — | — | |
Class I | — | — | 786,664 | 19,393,901 | |
Class T | — | — | — | — | |
Shares sold: | |||||
Class A | 504,763 | 11,021,205 | 594,677 | 15,689,988 | |
Class A – automatic conversion of Class C Shares | 604 | 16,121 | 27,659 | 744,042 | |
Class C | 195,424 | 4,070,725 | 114,280 | 2,904,189 | |
Class R3 | 13,674 | 366,100 | 437 | 11,551 | |
Class R6 | 18,757 | 498,561 | 11,494 | 310,409 | |
Class I | 2,177,092 | 51,941,311 | 1,651,716 | 44,359,125 | |
Class T | — | — | — | — | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 1,348,004 | 27,678,063 | 873,279 | 21,477,611 | |
Class C | 100,355 | 1,949,039 | 65,991 | 1,548,816 | |
Class R3 | 2,325 | 48,232 | 554 | 13,741 | |
Class R6 | 92,422 | 1,909,868 | 74,813 | 1,853,000 | |
Class I | 793,580 | 16,388,009 | 320,413 | 7,941,686 | |
Class T | — | — | — | — | |
5,247,000 | 115,887,234 | 5,340,847 | 136,064,848 | ||
Shares redeemed: | |||||
Class A | (1,072,970) | (24,230,575) | (1,405,063) | (36,996,177) | |
Class C | (200,680) | (4,215,599) | (401,683) | (10,179,463) | |
Class C – automatic conversion to Class A Shares | (635) | (16,121) | (29,007) | (744,042) | |
Class R3 | (2,510) | (65,349) | (1,753) | (44,313) | |
Class R6 | (36,406) | (1,021,035) | (157,187) | (4,260,000) | |
Class I | (1,487,776) | (33,084,284) | (1,513,316) | (40,082,087) | |
Class T | (1,000) | (24,870) | — | — | |
(2,801,977) | (62,657,833) | (3,508,009) | (92,306,082) | ||
Net increase (decrease) | 2,445,023 | $53,229,401 | 1,832,838 | $43,758,766 |
Six Months Ended 2/28/19 | Year Ended 8/31/18 | ||||
Large Cap Core | Shares | Amount | Shares | Amount | |
Shares issued in the Reorganization: | |||||
Class A | — | $ — | 659,181 | $21,159,921 | |
Class C | — | — | 916,116 | 29,041,632 | |
Class R6 | — | — | 2,450 | 81,048 | |
Class I | — | — | 3,082,534 | 97,971,126 | |
Class T | — | — | — | — | |
Shares sold: | |||||
Class A | 1,105,024 | 34,572,715 | 860,899 | 29,375,443 | |
Class A – automatic conversion of Class C Shares | 724 | 25,046 | 7,416 | 260,368 | |
Class C | 942,241 | 28,729,760 | 768,016 | 25,597,584 | |
Class R6 | 474,083 | 14,819,852 | 3,654,755 | 115,394,189 | |
Class I | 10,711,717 | 336,791,451 | 6,266,704 | 212,813,053 | |
Class T | — | — | — | — | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 36,644 | 1,037,388 | 233,701 | 7,650,424 | |
Class C | 22,401 | 627,236 | 214,759 | 6,925,442 | |
Class R6 | 59,599 | 1,680,197 | 455,924 | 14,861,029 | |
Class I | 218,414 | 6,151,121 | 859,363 | 28,181,214 | |
Class T | — | — | — | — | |
13,570,847 | 424,434,766 | 17,981,818 | 589,312,473 | ||
Shares redeemed: | �� | ||||
Class A | (665,383) | (19,815,171) | (535,269) | (17,744,802) | |
Class C | (521,108) | (15,579,722) | (599,971) | (19,594,948) | |
Class C – automatic conversion to Class A Shares | (738) | (25,046) | (7,545) | (260,368) | |
Class R6 | (330,615) | (10,616,791) | (646,804) | (22,063,321) | |
Class I | (4,919,850) | (145,592,691) | (3,751,272) | (122,780,066) | |
Class T | (833) | (25,291) | — | — | |
(6,438,527) | (191,654,712) | (5,540,861) | (182,443,505) | ||
Net increase (decrease) | 7,132,320 | $232,780,054 | 12,440,957 | $406,868,968 |
Six Months Ended 2/28/19 | Year Ended 8/31/18 | ||||
Large Cap Growth | Shares | Amount | Shares | Amount | |
Shares issued in the Reorganization: | |||||
Class A | — | $ — | 4,470,934 | $134,673,605 | |
Class C | — | — | 1,375,543 | 40,735,068 | |
Class R6 | — | — | 490,697 | 14,685,460 | |
Class I | — | — | 8,731,582 | 263,566,797 | |
Shares sold: | |||||
Class A | 228,551 | 6,045,173 | 283,577 | 9,133,184 | |
Class A – automatic conversion of Class C Shares | 272 | 7,592 | 5,326 | 177,253 | |
Class C | 126,527 | 3,187,765 | 112,282 | 3,455,037 | |
Class R6 | 15,309 | 461,139 | 458,749 | 14,169,009 | |
Class I | 873,121 | 22,676,155 | 1,230,354 | 39,054,918 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 456,158 | 10,591,996 | 553,415 | 16,831,068 | |
Class C | 141,691 | 3,188,043 | 90,161 | 2,674,849 | |
Class R6 | 88,195 | 2,054,441 | 75,933 | 2,315,155 | |
Class I | 578,920 | 13,468,437 | 718,461 | 21,871,362 | |
2,508,744 | 61,680,741 | 18,597,014 | 563,342,765 | ||
Shares redeemed: | |||||
Class A | (1,014,824) | (26,415,684) | (660,255) | (21,147,708) | |
Class C | (404,353) | (10,181,788) | (270,102) | (8,513,360) | |
Class C – automatic conversion to Class A Shares | (280) | (7,592) | (5,452) | (177,253) | |
Class R6 | (49,696) | (1,502,731) | (138,689) | (4,527,310) | |
Class I | (3,382,054) | (88,705,572) | (3,787,307) | (121,165,296) | |
(4,851,207) | (126,813,367) | (4,861,805) | (155,530,927) | ||
Net increase (decrease) | (2,342,463) | $(65,132,626) | 13,735,209 | $407,811,838 |
Six Months Ended 2/28/19 | Year Ended 8/31/18 | ||||
Equity Long/Short | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 395,933 | $16,561,636 | 786,531 | $33,513,623 | |
Class A – automatic conversion of Class C Shares | 51 | 2,178 | 12 | 498 | |
Class C | 143,198 | 5,559,510 | 264,772 | 10,489,016 | |
Class I | 3,906,885 | 168,261,802 | 5,360,093 | 235,378,405 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 18,177 | 723,620 | 12,465 | 513,454 | |
Class C | 8,170 | 298,943 | 4,499 | 171,805 | |
Class I | 104,131 | 4,256,858 | 34,734 | 1,465,085 | |
4,576,545 | 195,664,547 | 6,463,106 | 281,531,886 | ||
Shares redeemed: | |||||
Class A | (241,573) | (10,074,510) | (255,509) | (10,791,326) | |
Class C | (42,144) | (1,602,239) | (32,882) | (1,293,290) | |
Class C – automatic conversion to Class A Shares | (56) | (2,178) | (12) | (498) | |
Class I | (3,011,141) | (125,961,307) | (614,944) | (26,845,972) | |
(3,294,914) | (137,640,234) | (903,347) | (38,931,086) | ||
Net increase (decrease) | 1,281,631 | $58,024,313 | 5,559,759 | $242,600,800 |
Six Months Ended 2/28/19 | Year Ended 8/31/18 | ||||
Equity Market Neutral | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 1,283,394 | $31,815,116 | 1,060,785 | $25,801,483 | |
Class C | 383,425 | 9,210,808 | 164,730 | 3,881,118 | |
Class I | 23,644,288 | 598,281,701 | 7,474,327 | 184,817,876 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 7,597 | 190,467 | 9,589 | 229,852 | |
Class C | 2,280 | 54,802 | 2,087 | 48,318 | |
Class I | 90,721 | 2,307,950 | 52,369 | 1,269,937 | |
25,411,705 | 641,860,844 | 8,763,887 | 216,048,584 | ||
Shares redeemed: | |||||
Class A | (546,516) | (13,386,614) | (365,456) | (8,914,754) | |
Class C | (52,624) | (1,242,287) | (39,908) | (937,073) | |
Class I | (5,193,137) | (129,576,873) | (854,997) | (21,092,786) | |
(5,792,277) | (144,205,774) | (1,260,361) | (30,944,613) | ||
Net increase (decrease) | 19,619,428 | $497,655,070 | 7,503,526 | $185,103,971 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Purchases | $389,062,152 | $819,531,984 | $255,702,739 | $790,694,682 | $679,110,092 |
Sales | 393,799,194 | 591,401,594 | 352,666,425 | 681,422,777 | 546,378,550 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Tax cost of investments | $434,093,155 | $931,077,977 | $290,841,736 | $548,720,369 | $699,985,503 |
Gross unrealized: | |||||
Appreciation | $39,134,712 | $94,857,766 | $82,037,516 | $42,140,239 | $30,351,235 |
Depreciation | (29,008,320) | (39,311,086) | (15,780,727) | (21,581,313) | (13,703,621) |
Net unrealized appreciation (depreciation) of investments | $10,126,392 | $55,546,680 | $66,256,789 | $20,558,926 | $16,647,614 |
Equity Long/Short | Equity Market Neutral | |
Tax proceeds from common stocks sold short | $(266,323,569) | $(388,708,948) |
Net unrealized appreciation (depreciation) of common stocks sold short | 5,674,230 | (31,400,596) |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Capital paid-in | $3,106,628 | $4,178,588 | $8,316,014 | $(935,638) | $ — |
Undistributed (Over-distribution of) net investment income | 96,455 | 5,000 | (20,537) | 997,643 | 668,863 |
Accumulated net realized gain (loss) | (3,203,083) | (4,183,588) | (8,295,477) | (62,005) | (668,863) |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Undistributed net ordinary income1 | $23,943,404 | $2,002,157 | $1,422,472 | $ — | $ — |
Undistributed net long-term capital gains | 23,788,468 | — | 3,395,870 | 5,278,700 | 2,645,605 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Distributions from net ordinary income1 | $32,987,703 | $53,386,731 | $23,578,638 | $ — | $416,197 |
Distributions from net long-term capital gains | 7,276,700 | 18,424,182 | 31,752,968 | 2,155,926 | 1,388,812 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Equity Long/Short | Equity Market Neutral | |
Post-October capital losses2 | $ — | $3,374,160 |
Late-year ordinary losses3 | 532,538 | 447,890 |
2 | Capital losses incurred from November 1, 2017 through August 31, 2018, the Funds' last tax year end. |
3 | Ordinary losses incurred from January 1, 2018 through August 31, 2018, and/or specified losses incurred from November 1, 2017 through August 31, 2018. |
Average Daily Net Assets | Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral |
For the first $125 million | 0.5000% | 0.5000% | 0.5000% | 1.1000% | 1.1000% |
For the next $125 million | 0.4875 | 0.4875 | 0.4875 | 1.0875 | 1.0875 |
For the next $250 million | 0.4750 | 0.4750 | 0.4750 | 1.0750 | 1.0750 |
For the next $500 million | 0.4625 | 0.4625 | 0.4625 | 1.0625 | 1.0625 |
For the next $1 billion | 0.4500 | 0.4500 | 0.4500 | 1.5000 | 1.0500 |
For the next $3 billion | 0.4250 | 0.4250 | 0.4250 | 1.0250 | 1.0250 |
For the next $2.5 billion | 0.4000 | 0.4000 | 0.4000 | 1.0000 | 1.0000 |
For the next $2.5 billion | 0.3875 | 0.3875 | 0.3875 | 0.9875 | 0.9875 |
For net assets over $10 billion | 0.3750 | 0.3750 | 0.3750 | 0.9750 | 0.9750 |
Complex-Level Eligible Asset Breakpoint Level* | Effective Complex-Level Fee Rate at Breakpoint Level |
$55 billion | 0.2000% |
$56 billion | 0.1996 |
$57 billion | 0.1989 |
$60 billion | 0.1961 |
$63 billion | 0.1931 |
$66 billion | 0.1900 |
$71 billion | 0.1851 |
$76 billion | 0.1806 |
$80 billion | 0.1773 |
$91 billion | 0.1691 |
$125 billion | 0.1599 |
$200 billion | 0.1505 |
$250 billion | 0.1469 |
$300 billion | 0.1445 |
Fund | Complex-Level Fee |
Large Cap Value | 0.1591% |
Large Cap Core | 0.1591% |
Large Cap Growth | 0.1880% |
Equity Long/Short | 0.1591% |
Equity Market Neutral | 0.1591% |
Fund | Temporary Expense Cap | Temporary Expense Cap Expiration Date | Permanent Expense Cap |
Large Cap Value | 0.79% | July 31, 2020 | 1.20% |
Large Cap Core | 0.77 | July 31, 2020 | N/A |
Large Cap Growth | 0.75 | July 31, 2020 | N/A |
Equity Long/Short | 1.40 | July 31, 2020 | N/A |
Equity Market Neutral | 1.40 | July 31, 2020 | N/A |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Sales charges collected | $50,767 | $550,783 | $50,792 | $133,764 | $230,846 |
Paid to financial intermediaries | 44,626 | 486,684 | 45,646 | 118,077 | 205,677 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Commission advances | $13,823 | $250,020 | $20,211 | $54,976 | $109,591 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
12b-1 fees retained | $10,656 | $156,998 | $33,851 | $55,539 | $28,852 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
CDSC retained | $2,096 | $5,761 | $3,373 | $1,468 | $892 |
Large Cap Value | Large Cap Core | Large Cap Growth | |
Class A Shares | — | — | — |
Class C Shares | — | — | — |
Class R3 Shares | 2,126 | N/A | N/A |
Class R6 Shares | — | 848 | 1,030 |
Class I Shares | — | — | — |
N/A | - Not applicable |
Large Cap Core | Large Cap Growth | |
Maximum outstanding balance | $9,340,133 | $490,949 |
Large Cap Core | Large Cap Growth | |
Average daily balance outstanding | $9,340,133 | $490,949 |
Average annual interest rate | 3.50% | 3.50% |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
From net investment income: | |||||
Class A Shares | $(3,572,110) | $(374,207) | $(173,001) | $ — | $ — |
Class C Shares | (89,550) | — | — | — | — |
Class R3 Shares | (1,972) | — | — | — | — |
Class R6 Shares | (335,427) | (1,390,769) | (41,420) | — | — |
Class I Shares | (2,104,498) | (3,383,572) | (795,187) | — | — |
Class T Shares | (366) | (161) | — | — | — |
From accumulated net realized gains: | |||||
Class A Shares | (21,815,601) | (8,116,757) | (17,245,848) | (513,454) | (229,852) |
Class C Shares | (1,744,304) | (8,277,269) | (3,468,934) | (172,650) | (48,318) |
Class R3 Shares | (18,438) | — | — | — | — |
Class R6 Shares | (1,517,573) | (13,473,852) | (2,282,177) | — | — |
Class I Shares | (9,062,293) | (36,791,271) | (31,325,039) | (1,469,822) | (1,526,839) |
Class T Shares | (2,271) | (3,055) | — | — | — |
Total distributions to shareholders: | |||||
Class A Shares | (25,387,711) | (8,490,964) | (17,418,849) | (513,454) | (229,852) |
Class C Shares | (1,833,854) | (8,277,269) | (3,468,934) | (172,650) | (48,318) |
Class R3 Shares | (20,410) | — | — | — | — |
Class R6 Shares | (1,853,000) | (14,864,621) | (2,323,597) | — | — |
Class I Shares | (11,166,791) | (40,174,843) | (32,120,226) | (1,469,822) | (1,526,839) |
Class T Shares(1) | (2,637) | (3,216) | — | — | — |
(1) | Class T Shares were not available for public offering. |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
UNII at the end of period | $2,196,185 | $926,854 | $164,000 | $(532,538) | $(447,890) |
Serving Investors for Generations
Item 2. Code of Ethics.
Not applicable to this filing.
Item 3. Audit Committee Financial Expert.
Not applicable to this filing.
Item 4. Principal Accountant Fees and Services.
Not applicable to this filing.
Item 5. Audit Committee of Listed Registrants.
Not applicable to this registrant.
Item 6. Schedule of Investments.
(a) See Portfolio of Investments in Item 1.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to this registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules13a-15(b) or15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
File the exhibits listed below as part of this Form.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See EX-99.CERT attached hereto.
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant.
(a)(4) Change in the registrant’s independent public accountant. Not applicable.
(b) If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an Exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registration specifically incorporates it by reference: See EX-99.906 CERT attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Investment Trust
By | (Signature and Title) | /s/ Christopher M. Rohrbacher | ||||
Christopher M. Rohrbacher Vice President and Secretary |
Date: May 7, 2019
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | (Signature and Title) | /s/ Greg A. Bottjer | ||||
Greg A. Bottjer Chief Administrative Officer (principal executive officer) |
Date: May 7, 2019
By | (Signature and Title) | /s/ E. Scott Wickerham | ||||
E. Scott Wickerham Vice President and Controller (principal financial officer) |
Date: May 7, 2019