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)
Mark J. Czarniecki
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: June 30
Date of reporting period: June 30, 2021
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 R6 | Class I | ||
Nuveen NWQ Global Equity Income Fund | NQGAX | NQGCX | — | NQGIX | ||
Nuveen NWQ International Value Fund | NAIGX | NCIGX | — | NGRRX | ||
Nuveen NWQ Multi-Cap Value Fund | NQVAX | NQVCX | — | NQVRX | ||
Nuveen NWQ Large-Cap Value Fund | NQCAX | NQCCX | — | NQCRX | ||
Nuveen NWQ Small/Mid-Cap Value Fund | NSMAX | NSMCX | NWQFX | NSMRX | ||
Nuveen NWQ Small-Cap Value Fund | NSCAX | NSCCX | NSCFX | NSCRX | ||
Effective October 29, 2021, each Fund will remove "NWQ" from its name and Nuveen NWQ Small-Cap Value will be renamed Nuveen Small Cap Value Opportunities Fund. Please see the Portfolio Managers' Comments and Notes to Financial Statements sections of this Annual Report for more information. |
Advisors, LLC, the Funds’ investment adviser. Jon D. Bosse, CFA, is the Chief Investment Officer of NWQ and along with Jujhar S. Sohi, CFA, manages the Nuveen NWQ Multi-Cap Value and Large-Cap Value Funds. Andy Hwang and Thomas Lavia, CFA, manage the Nuveen NWQ Small/Mid-Cap Value and Small-Cap Value Funds. James T. Stephenson, CFA, and Thomas J. Ray, CFA, manage the Nuveen NWQ Global Equity Income Fund and Peter Boardman and James T. Stephenson, CFA, serve as portfolio managers of the Nuveen NWQ International Value Fund.
• | Nuveen NWQ Global Equity Income Fund to Nuveen Global Equity Income Fund |
• | Nuveen NWQ International Value Fund to Nuveen International Value Fund |
• | Nuveen NWQ Multi-Cap Value Fund to Nuveen Multi Cap Value Fund |
• | Nuveen NWQ Large-Cap Value Fund to Nuveen Large Cap Value Fund |
• | Nuveen NWQ Small/Mid-Cap Value Fund to Nuveen Small/Mid Cap Value Fund |
• | Nuveen NWQ Small-Cap Value Fund to Nuveen Small Cap Value Opportunities Fund |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 9/15/09 | 40.43% | 9.23% | 7.92% | 1.24% | 1.11% | |
Class A Shares at maximum Offering Price | 9/15/09 | 32.36% | 7.94% | 7.28% | - | - | |
MSCI World Index (Net) | - | 39.04% | 14.83% | 10.65% | - | - | |
MSCI World Value Index (Net) | - | 37.91% | 9.82% | 7.63% | - | - | |
Lipper Global Equity Income Funds Classification Average | - | 30.19% | 8.57% | 6.96% | - | - | |
Class C Shares | 9/15/09 | 39.34% | 8.41% | 7.27% | 1.99% | 1.86% | |
Class I Shares | 9/15/09 | 40.76% | 9.50% | 8.19% | 0.99% | 0.86% |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 12/20/99 | 40.20% | 7.51% | 3.19% | 1.33% | 1.15% | |
Class A Shares at maximum Offering Price | 12/20/99 | 32.14% | 6.24% | 2.58% | - | - | |
MSCI EAFE Index (Net) | - | 32.35% | 10.28% | 5.89% | - | - | |
Lipper International Multi-Cap Value Funds Classification Average | - | 37.15% | 8.28% | 4.35% | - | - | |
Class C Shares | 12/20/99 | 39.17% | 6.71% | 2.56% | 2.08% | 1.90% | |
Class I Shares | 12/20/99 | 40.51% | 7.77% | 3.44% | 1.08% | 0.90% |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 12/9/02 | 57.70% | 13.20% | 9.03% | 1.30% | 1.15% | |
Class A Shares at maximum Offering Price | 12/9/02 | 48.61% | 11.86% | 8.38% | - | - | |
Russell 3000® Value Index | - | 45.40% | 11.99% | 11.54% | - | - | |
Lipper Multi-Cap Value Funds Classification Average | - | 47.78% | 12.34% | 10.74% | - | - | |
Class C Shares | 12/9/02 | 56.54% | 12.34% | 8.37% | 2.05% | 1.90% | |
Class I Shares | 11/4/97 | 58.09% | 13.48% | 9.30% | 1.05% | 0.90% |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 12/15/06 | 44.10% | 10.93% | 7.94% | 1.40% | 1.00% | |
Class A Shares at maximum Offering Price | 12/15/06 | 35.86% | 9.64% | 7.30% | - | - | |
Russell 1000® Value Index | - | 43.68% | 11.87% | 11.61% | - | - | |
Lipper Multi-Cap Value Funds Classification Average | - | 47.78% | 12.34% | 10.74% | - | - | |
Class C Shares | 12/15/06 | 42.65% | 10.05% | 7.29% | 2.15% | 1.75% | |
Class I Shares | 12/15/06 | 44.50% | 11.19% | 8.21% | 1.15% | 0.75% |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 12/15/06 | 60.64% | 11.93% | 9.38% | 1.85% | 1.31% | |
Class A Shares at maximum Offering Price | 12/15/06 | 51.43% | 10.61% | 8.73% | - | - | |
Russell 2500® Value Index | - | 63.23% | 12.29% | 10.93% | - | - | |
Lipper Small-Cap Core Funds Classification Average | - | 60.78% | 13.36% | 10.79% | - | - | |
Class C Shares | 12/15/06 | 59.46% | 11.08% | 8.73% | 2.60% | 2.06% | |
Class I Shares | 12/15/06 | 61.03% | 12.21% | 9.66% | 1.60% | 1.06% |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | Since Inception | Gross | Net | ||
Class R6 Shares | 6/30/16 | 61.19% | 12.38% | 12.37% | 1.43% | 0.88% |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 12/08/04 | 63.00% | 11.24% | 11.02% | 1.35% | 1.20% | |
Class A Shares at maximum Offering Price | 12/08/04 | 53.64% | 9.93% | 10.37% | - | - | |
Russell 2000® Value Index | - | 73.28% | 13.62% | 10.85% | - | - | |
Lipper Small-Cap Core Funds Classification Average | - | 60.78% | 13.36% | 10.79% | - | - | |
Class C Shares | 12/08/04 | 61.79% | 10.40% | 10.36% | 2.10% | 1.95% | |
Class I Shares | 12/08/04 | 63.42% | 11.52% | 11.30% | 1.10% | 0.95% |
Total Returns as of June 30, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | Since Return | Gross | Net | ||
Class R6 Shares | 2/15/13 | 63.67% | 11.72% | 11.08% | 0.91% | 0.76% |
Fund Allocation (% of net assets) | |
Common Stocks | 93.8% |
Convertible Preferred Securities | 3.4% |
Structured Notes | 0.6% |
Other Assets Less Liabilities | 2.2% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Deutsche Post AG | 3.5% |
Citigroup Inc | 2.8% |
Microsoft Corp | 2.7% |
Anthem Inc | 2.6% |
Enterprise Products Partners LP | 2.6% |
Portfolio Composition (% of net assets) | |
Banks | 13.8% |
Pharmaceuticals | 5.8% |
Insurance | 5.2% |
Software | 4.9% |
Semiconductors & Semiconductor Equipment | 4.7% |
Chemicals | 4.7% |
Specialty Retail | 4.6% |
Health Care Providers & Services | 4.5% |
Oil, Gas & Consumable Fuels | 4.1% |
Food & Staples Retailing | 3.8% |
Media | 3.7% |
Air Freight & Logistics | 3.5% |
Household Durables | 2.7% |
Technology Hardware, Storage & Peripherals | 2.4% |
Entertainment | 2.3% |
Wireless Telecommunication Services | 2.3% |
Aerospace & Defense | 2.2% |
Industrial Conglomerates | 2.2% |
Health Care Equipment & Supplies | 2.2% |
Other 1 | 18.2% |
Other Assets Less Liabilities | 2.2% |
Net Assets | 100% |
Country Allocation2 (% of net assets) | |
United States | 48.8% |
Germany | 11.9% |
Japan | 7.8% |
United Kingdom | 7.0% |
South Korea | 4.7% |
China | 3.3% |
Belgium | 1.9% |
Netherlands | 1.9% |
Singapore | 1.8% |
Canada | 1.7% |
Other | 7.0% |
Other Assets Less Liabilities | 2.2% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. | |
2 | Includes 8.0% (as a percentage of net assets) in emerging market countries. |
Fund Allocation (% of net assets) | |
Common Stocks | 98.2% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | 0.5% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Deutsche Post AG | 3.9% |
ING Groep NV | 3.4% |
Siemens AG | 3.3% |
Samsung Electronics Co Ltd | 2.9% |
SK Telecom Co Ltd | 2.9% |
Portfolio Composition (% of net assets) | |
Banks | 7.9% |
Insurance | 7.4% |
Pharmaceuticals | 7.4% |
Semiconductors & Semiconductor Equipment | 4.6% |
Food & Staples Retailing | 4.5% |
Technology Hardware, Storage & Peripherals | 4.5% |
Household Durables | 3.9% |
Air Freight & Logistics | 3.9% |
Professional Services | 3.7% |
Automobiles | 3.5% |
Specialty Retail | 3.4% |
Industrial Conglomerates | 3.3% |
Chemicals | 3.2% |
Metals & Mining | 3.1% |
Wireless Telecommunication Services | 2.9% |
Media | 2.8% |
Electrical Equipment | 2.5% |
Health Care Providers & Services | 2.4% |
Capital Markets | 2.0% |
Oil, Gas & Consumable Fuels | 1.9% |
Other 1 | 19.4% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | 0.5% |
Net Assets | 100% |
Country Allocation2 (% of net assets) | |
Japan | 22.6% |
Germany | 14.5% |
United Kingdom | 10.0% |
South Korea | 8.3% |
France | 8.3% |
Netherlands | 7.0% |
Switzerland | 5.0% |
United States | 4.4% |
Belgium | 4.1% |
Australia | 3.3% |
Other | 12.0% |
Other Assets Less Liabilities | 0.5% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. | |
2 | Includes 14.7% (as a percentage of net assets) in emerging market countries. |
Fund Allocation (% of net assets) | |
Common Stocks | 98.0% |
Investments Purchased with Collateral from Securities Lending | 2.2% |
Repurchase Agreements | 2.8% |
Other Assets Less Liabilities | (3.0)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 10.2% |
Software | 7.5% |
Aerospace & Defense | 5.6% |
Capital Markets | 5.1% |
Electrical Equipment | 4.3% |
Oil, Gas & Consumable Fuels | 4.2% |
Biotechnology | 3.9% |
Food & Staples Retailing | 3.8% |
Pharmaceuticals | 3.7% |
Insurance | 3.6% |
Interactive Media & Services | 3.6% |
Specialty Retail | 3.5% |
Chemicals | 3.2% |
Automobiles | 2.9% |
Communications Equipment | 2.7% |
Life Sciences Tools & Services | 2.6% |
Electric Utilities | 2.6% |
Equity Real Estate Investment Trust | 2.5% |
Hotels, Restaurants & Leisure | 2.0% |
IT Services | 2.0% |
Other 1 | 18.5% |
Investments Purchased with Collateral from Securities Lending | 2.2% |
Repurchase Agreements | 2.8% |
Other Assets Less Liabilities | (3.0)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
nVent Electric PLC | 3.4% |
Oracle Corp | 3.1% |
Citigroup Inc | 3.0% |
General Motors Co | 2.9% |
Viasat Inc | 2.7% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 97.2% |
Investments Purchased with Collateral from Securities Lending | 2.7% |
Repurchase Agreements | 2.2% |
Other Assets Less Liabilities | (2.1)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 11.1% |
Electrical Equipment | 5.7% |
Insurance | 5.4% |
Software | 5.3% |
Aerospace & Defense | 4.8% |
Oil, Gas & Consumable Fuels | 4.6% |
Pharmaceuticals | 4.5% |
Electric Utilities | 4.2% |
Health Care Providers & Services | 4.2% |
Interactive Media & Services | 4.1% |
Biotechnology | 3.7% |
Automobiles | 3.4% |
IT Services | 3.3% |
Communications Equipment | 2.8% |
Capital Markets | 2.6% |
Food & Staples Retailing | 2.6% |
Media | 2.2% |
Consumer Finance | 2.1% |
Energy Equipment & Services | 2.0% |
Other 1 | 18.6% |
Investments Purchased with Collateral from Securities Lending | 2.7% |
Repurchase Agreements | 2.2% |
Other Assets Less Liabilities | (2.1)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Citigroup Inc | 3.5% |
General Motors Co | 3.4% |
JPMorgan Chase & Co | 3.3% |
Oracle Corp | 3.1% |
nVent Electric PLC | 3.0% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 95.2% |
Repurchase Agreements | 5.2% |
Other Assets Less Liabilities | (0.4)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 10.9% |
Electrical Equipment | 6.5% |
Equity Real Estate Investment Trust | 5.9% |
Biotechnology | 5.5% |
Communications Equipment | 4.7% |
Specialty Retail | 4.3% |
Interactive Media & Services | 3.9% |
Insurance | 3.7% |
Semiconductors & Semiconductor Equipment | 3.4% |
Oil, Gas & Consumable Fuels | 3.3% |
Aerospace & Defense | 3.0% |
Metals & Mining | 2.9% |
Life Sciences Tools & Services | 2.9% |
Chemicals | 2.9% |
Software | 2.7% |
Machinery | 2.7% |
Electric Utilities | 2.3% |
Diversified Consumer Services | 2.2% |
Energy Equipment & Services | 2.1% |
Other 1 | 19.4% |
Repurchase Agreements | 5.2% |
Other Assets Less Liabilities | (0.4)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Magnolia Oil & Gas Corp | 3.4% |
nVent Electric PLC | 2.8% |
Teradata Corp | 2.7% |
Ameris Bancorp | 2.7% |
American Eagle Outfitters Inc | 2.6% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 97.3% |
Repurchase Agreements | 2.6% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 15.9% |
Equity Real Estate Investment Trust | 5.9% |
Biotechnology | 5.6% |
Electrical Equipment | 5.6% |
Semiconductors & Semiconductor Equipment | 4.5% |
Interactive Media & Services | 4.1% |
Metals & Mining | 4.0% |
Machinery | 3.6% |
Thrifts & Mortgage Finance | 3.4% |
Energy Equipment & Services | 3.3% |
Oil, Gas & Consumable Fuels | 3.3% |
Hotels, Restaurants & Leisure | 3.1% |
Communications Equipment | 3.0% |
Software | 2.9% |
Specialty Retail | 2.6% |
Leisure Products | 2.4% |
Capital Markets | 2.3% |
Electronic Equipment, Instruments & Components | 2.3% |
Other 1 | 19.5% |
Repurchase Agreements | 2.6% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Magnolia Oil & Gas Corp | 3.3% |
nVent Electric PLC | 3.3% |
Teradata Corp | 2.9% |
Rambus Inc | 2.7% |
American Eagle Outfitters Inc | 2.6% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
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 | $1,168.77 | $1,164.05 | $1,170.14 |
Expenses Incurred During the Period | $ 5.92 | $ 9.93 | $ 4.57 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.34 | $1,015.62 | $1,020.58 |
Expenses Incurred During the Period | $ 5.51 | $ 9.25 | $ 4.26 |
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 | $1,125.86 | $1,121.65 | $1,126.97 |
Expenses Incurred During the Period | $ 6.06 | $ 9.94 | $ 4.75 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.09 | $1,015.42 | $1,020.33 |
Expenses Incurred During the Period | $ 5.76 | $ 9.44 | $ 4.51 |
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 | $1,260.95 | $1,256.01 | $1,262.52 |
Expenses Incurred During the Period | $ 6.39 | $ 10.63 | $ 4.99 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.14 | $1,015.37 | $1,020.38 |
Expenses Incurred During the Period | $ 5.71 | $ 9.49 | $ 4.46 |
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 | $1,192.12 | $1,186.54 | $1,193.63 |
Expenses Incurred During the Period | $ 5.44 | $ 9.49 | $ 4.08 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.84 | $1,016.12 | $1,021.08 |
Expenses Incurred During the Period | $ 5.01 | $ 8.75 | $ 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 | $1,267.46 | $1,262.94 | $1,270.07 | $1,269.22 |
Expenses Incurred During the Period | $ 7.31 | $ 11.50 | $ 5.01 | $ 5.91 |
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 | $1,018.35 | $1,014.63 | $1,020.38 | $1,019.59 |
Expenses Incurred During the Period | $ 6.51 | $ 10.24 | $ 4.46 | $ 5.26 |
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 | $1,263.42 | $1,258.29 | $1,264.89 | $1,264.79 |
Expenses Incurred During the Period | $ 6.51 | $ 10.75 | $ 5.00 | $ 5.28 |
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 | $1,019.04 | $1,015.27 | $1,020.38 | $1,020.13 |
Expenses Incurred During the Period | $ 5.81 | $ 9.59 | $ 4.46 | $ 4.71 |
Shares | Description (1) | Value | ||||||
LONG-TERM INVESTMENTS – 97.8% | ||||||||
COMMON STOCKS – 93.8% | ||||||||
Aerospace & Defense – 2.2% | ||||||||
19,541 | General Dynamics Corp | $ 3,678,789 | ||||||
Air Freight & Logistics – 3.5% | ||||||||
86,457 | Deutsche Post AG, (2) | 5,888,126 | ||||||
Automobiles – 1.7% | ||||||||
49,103 | General Motors Co, (3) | 2,905,425 | ||||||
Banks – 13.2% | ||||||||
326,493 | Bank Leumi Le-Israel BM, (2), (3) | 2,480,929 | ||||||
64,641 | Citigroup Inc | 4,573,351 | ||||||
236,207 | ING Groep NV, (2) | 3,135,494 | ||||||
27,557 | JPMorgan Chase & Co | 4,286,216 | ||||||
145,450 | Nordea Bank Abp, (2), (3) | 1,621,477 | ||||||
328,720 | Oversea-Chinese Banking Corp Ltd, (2) | 2,929,467 | ||||||
64,424 | Wells Fargo & Co | 2,917,763 | ||||||
Total Banks | 21,944,697 | |||||||
Capital Markets – 1.5% | ||||||||
13,908 | Deutsche Boerse AG, (2) | 2,427,589 | ||||||
Chemicals – 4.7% | ||||||||
14,406 | Air Liquide SA, (2) | 2,526,092 | ||||||
32,277 | DuPont de Nemours Inc | 2,498,562 | ||||||
46,672 | Nutrien Ltd | 2,827,956 | ||||||
Total Chemicals | 7,852,610 | |||||||
Communications Equipment – 2.0% | ||||||||
63,604 | Cisco Systems Inc | 3,371,012 | ||||||
Electric Utilities – 1.0% | ||||||||
26,537 | Evergy Inc | 1,603,631 | ||||||
Electrical Equipment – 1.5% | ||||||||
16,677 | Eaton Corp PLC | 2,471,198 | ||||||
Entertainment – 2.3% | ||||||||
6,650 | Nintendo Co Ltd, (2) | 3,848,174 | ||||||
Food & Staples Retailing – 3.8% | ||||||||
82,210 | Seven & i Holdings Co Ltd, (2) | 3,937,926 |
Shares | Description (1) | Value | ||||||
Food & Staples Retailing (continued) | ||||||||
17,020 | Walmart Inc | $ 2,400,160 | ||||||
Total Food & Staples Retailing | 6,338,086 | |||||||
Food Products – 1.6% | ||||||||
1,314,074 | Tingyi Cayman Islands Holding Corp, (2) | 2,623,454 | ||||||
Health Care Equipment & Supplies – 2.2% | ||||||||
29,211 | Medtronic PLC | 3,625,961 | ||||||
Health Care Providers & Services – 4.5% | ||||||||
11,381 | Anthem Inc | 4,345,266 | ||||||
37,318 | Fresenius Medical Care AG & Co KGaA, (2) | 3,100,984 | ||||||
Total Health Care Providers & Services | 7,446,250 | |||||||
Hotels, Restaurants & Leisure – 1.6% | ||||||||
18,595 | Darden Restaurants Inc | 2,714,684 | ||||||
Household Durables – 2.7% | ||||||||
44,636 | PulteGroup Inc | 2,435,786 | ||||||
948,212 | Taylor Wimpey PLC, (2) | 2,086,766 | ||||||
Total Household Durables | 4,522,552 | |||||||
Industrial Conglomerates – 2.2% | ||||||||
23,081 | Siemens AG, (2) | 3,664,771 | ||||||
Insurance – 5.2% | ||||||||
57,372 | Ageas SA/NV, (2) | 3,188,230 | ||||||
10,890 | Allianz SE, (2) | 2,717,673 | ||||||
10,987 | Everest Re Group Ltd | 2,768,834 | ||||||
Total Insurance | 8,674,737 | |||||||
Media – 3.7% | ||||||||
65,705 | Comcast Corp, Class A | 3,746,499 | ||||||
153,100 | Hakuhodo DY Holdings Inc, (2) | 2,384,469 | ||||||
Total Media | 6,130,968 | |||||||
Metals & Mining – 1.5% | ||||||||
81,841 | BHP Group PLC, (2) | 2,421,753 | ||||||
Multi-Utilities – 1.5% | ||||||||
191,208 | National Grid PLC, (2) | 2,432,103 | ||||||
Oil, Gas & Consumable Fuels – 4.1% | ||||||||
24,599 | Chevron Corp | 2,576,499 | ||||||
179,420 | Enterprise Products Partners LP | 4,329,405 | ||||||
Total Oil, Gas & Consumable Fuels | 6,905,904 | |||||||
Pharmaceuticals – 5.8% | ||||||||
47,908 | AstraZeneca PLC, Sponsored ADR | 2,869,689 |
Shares | Description (1) | Value | ||||||
Pharmaceuticals (continued) | ||||||||
37,893 | Bristol-Myers Squibb Co | $2,532,010 | ||||||
212,386 | GlaxoSmithKline PLC, (2) | 4,175,314 | ||||||
Total Pharmaceuticals | 9,577,013 | |||||||
Semiconductors & Semiconductor Equipment – 2.6% | ||||||||
687 | Broadcom Inc | 327,589 | ||||||
50,033 | Infineon Technologies AG, (2) | 2,012,490 | ||||||
36,246 | Intel Corp | 2,034,851 | ||||||
Total Semiconductors & Semiconductor Equipment | 4,374,930 | |||||||
Software – 4.9% | ||||||||
16,330 | Microsoft Corp | 4,423,797 | ||||||
47,173 | Oracle Corp | 3,671,946 | ||||||
Total Software | 8,095,743 | |||||||
Specialty Retail – 4.6% | ||||||||
71,521 | Industria de Diseno Textil SA, (2) | 2,525,178 | ||||||
11,452 | Lowe's Cos Inc | 2,221,345 | ||||||
1,757,000 | Topsports International Holdings Ltd, 144A, (2) | 2,873,036 | ||||||
Total Specialty Retail | 7,619,559 | |||||||
Technology Hardware, Storage & Peripherals – 2.4% | ||||||||
62,183 | Samsung Electronics Co Ltd, (2) | 4,069,880 | ||||||
Tobacco – 1.3% | ||||||||
21,905 | Philip Morris International Inc | 2,171,005 | ||||||
Trading Companies & Distributors – 1.7% | ||||||||
123,000 | Mitsui & Co Ltd, (2) | 2,770,661 | ||||||
Wireless Telecommunication Services – 2.3% | ||||||||
13,307 | SK Telecom Co Ltd, (2) | 3,781,615 | ||||||
Total Common Stocks (cost $111,346,253) | 155,952,880 |
Shares | Description (1) | Coupon | Ratings (4) | Value | ||||
CONVERTIBLE PREFERRED SECURITIES – 3.4% | ||||||||
Life Sciences Tools & Services – 1.3% | ||||||||
18,920 | Avantor Inc | 6.250% | N/R | $ 2,072,875 | ||||
Semiconductors & Semiconductor Equipment – 2.1% | ||||||||
2,300 | Broadcom Inc | 8.000% | N/R | 3,495,701 | ||||
Total Convertible Preferred Securities (cost $4,026,525) | 5,568,576 |
Shares | Description (1) | Coupon | Issue Price | Cap Price | Maturity | Value | ||
STRUCTURED NOTES – 0.6% | ||||||||
21,600 | Merrill Lynch International & Co. C.V., Structured Warrant, Linked to Common Stock of Teradata Corp (Cap 125.77% of Issue Price) , (2) | 16.000% | $39.5238 | $49.7091 | 9/27/21 | $ 1,008,243 | ||
Total Structured Notes (cost $853,714) | 1,008,243 | |||||||
Total Long-Term Investments (cost $116,226,492) | 162,529,699 | |||||||
Other Assets Less Liabilities – 2.2% | 3,707,177 | |||||||
Net Assets – 100% | $ 166,236,876 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(3) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(4) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. Ratings are not covered by the report of independent registered public accounting firm. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.2% | ||||||
COMMON STOCKS – 98.2% | ||||||
Aerospace & Defense – 1.5% | ||||||
17,839 | Thales SA, (2) | $ 1,822,734 | ||||
Air Freight & Logistics – 3.9% | ||||||
68,904 | Deutsche Post AG, (2) | 4,692,685 | ||||
Airlines – 1.8% | ||||||
102,400 | Japan Airlines Co Ltd, (2), (3) | 2,217,294 | ||||
Automobiles – 3.5% | ||||||
14,208 | Hyundai Motor Co, (2) | 1,456,792 | ||||
16,259 | Toyota Motor Corp, Sponsored ADR | 2,842,723 | ||||
Total Automobiles | 4,299,515 | |||||
Banks – 7.9% | ||||||
316,322 | ING Groep NV, (2) | 4,198,969 | ||||
171,132 | Oversea-Chinese Banking Corp Ltd, (2) | 1,525,084 | ||||
68,200 | Sumitomo Mitsui Trust Holdings Inc, (2) | 2,175,594 | ||||
1,624,081 | Unicaja Banco SA,144A, (2) | 1,666,594 | ||||
Total Banks | 9,566,241 | |||||
Capital Markets – 2.0% | ||||||
155,749 | UBS Group AG | 2,389,190 | ||||
Chemicals – 3.2% | ||||||
1,036,498 | Incitec Pivot Ltd, (2) | 1,849,580 | ||||
34,394 | Nutrien Ltd | 2,084,005 | ||||
Total Chemicals | 3,933,585 | |||||
Commercial Services & Supplies – 1.5% | ||||||
85,200 | Dai Nippon Printing Co Ltd, (2) | 1,802,955 | ||||
Diversified Financial Services – 1.9% | ||||||
20,507 | Groupe Bruxelles Lambert SA, (2) | 2,296,195 | ||||
Diversified Telecommunication Services – 1.4% | ||||||
64,006 | Nippon Telegraph & Telephone Corp, ADR | 1,676,477 | ||||
Electrical Equipment – 2.5% | ||||||
50,131 | Mabuchi Motor Co Ltd, (2) | 1,895,151 | ||||
529,485 | Melrose Industries PLC, (2) | 1,139,728 | ||||
Total Electrical Equipment | 3,034,879 |
Shares | Description (1) | Value | ||||
Electronic Equipment, Instruments & Components – 1.4% | ||||||
93,602 | Flex Ltd, (3) | $ 1,672,668 | ||||
Energy Equipment & Services – 1.5% | ||||||
137,232 | Technip Energies NV, (3) | 1,881,076 | ||||
Food & Staples Retailing – 4.5% | ||||||
70,300 | Seven & i Holdings Co Ltd, (2) | 3,367,427 | ||||
685,352 | Tesco PLC, (2) | 2,117,176 | ||||
Total Food & Staples Retailing | 5,484,603 | |||||
Health Care Providers & Services – 2.4% | ||||||
35,304 | Fresenius Medical Care AG & Co KGaA, (2) | 2,933,628 | ||||
Hotels, Restaurants & Leisure – 1.2% | ||||||
361,691 | Sands China Ltd, (2), (3) | 1,522,415 | ||||
Household Durables – 3.9% | ||||||
93,264 | Sekisui House Ltd, (2) | 1,915,154 | ||||
1,310,049 | Taylor Wimpey PLC, (2) | 2,883,074 | ||||
Total Household Durables | 4,798,228 | |||||
Industrial Conglomerates – 3.3% | ||||||
25,396 | Siemens AG, (2) | 4,032,343 | ||||
Insurance – 7.4% | ||||||
49,495 | Ageas SA/NV, (2) | 2,750,496 | ||||
7,661 | Allianz SE, (2) | 1,911,854 | ||||
43,225 | Axis Capital Holdings Ltd | 2,118,457 | ||||
77,700 | MS&AD Insurance Group Holdings Inc, (2) | 2,246,478 | ||||
Total Insurance | 9,027,285 | |||||
Interactive Media & Services – 1.3% | ||||||
8,061 | Baidu Inc, Sponsored ADR, (3) | 1,643,638 | ||||
Machinery – 1.3% | ||||||
62,585 | Komatsu Ltd, (2) | 1,550,453 | ||||
Media – 2.8% | ||||||
54,039 | Publicis Groupe SA, (2) | 3,458,225 | ||||
Metals & Mining – 3.1% | ||||||
71,782 | BHP Group PLC, (2) | 2,124,098 | ||||
4,303 | Korea Zinc Co Ltd, (2) | 1,650,091 | ||||
Total Metals & Mining | 3,774,189 | |||||
Multi-Utilities – 1.3% | ||||||
121,837 | National Grid PLC, (2) | 1,549,727 |
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels – 1.9% | ||||||
60,275 | Royal Dutch Shell PLC, Sponsored ADR | $ 2,340,478 | ||||
Pharmaceuticals – 7.4% | ||||||
29,052 | Bayer AG, (2) | 1,766,222 | ||||
135,794 | GlaxoSmithKline PLC, (2) | 2,669,586 | ||||
28,404 | Sanofi, (2) | 2,984,197 | ||||
47,600 | Takeda Pharmaceutical Co Ltd, (2) | 1,597,482 | ||||
Total Pharmaceuticals | 9,017,487 | |||||
Professional Services – 3.7% | ||||||
36,359 | Adecco Group AG, (2) | 2,473,929 | ||||
19,863 | Wolters Kluwer NV, (2) | 1,996,506 | ||||
Total Professional Services | 4,470,435 | |||||
Real Estate Management & Development – 1.2% | ||||||
264,654 | City Developments Ltd, (2) | 1,437,225 | ||||
Semiconductors & Semiconductor Equipment – 4.6% | ||||||
35,500 | AIXTRON SE, (2) | 962,677 | ||||
66,800 | MediaTek Inc, (2) | 2,303,680 | ||||
25,400 | Rohm Co Ltd, (2) | 2,337,503 | ||||
Total Semiconductors & Semiconductor Equipment | 5,603,860 | |||||
Software – 1.1% | ||||||
9,840 | SAP SE, (2) | 1,382,123 | ||||
Specialty Retail – 3.4% | ||||||
353,599 | Kingfisher PLC, (2) | 1,784,648 | ||||
1,414,000 | Topsports International Holdings Ltd,144A, (2) | 2,312,164 | ||||
Total Specialty Retail | 4,096,812 | |||||
Technology Hardware, Storage & Peripherals – 4.5% | ||||||
26,300 | FUJIFILM Holdings Corp, (2) | 1,945,371 | ||||
53,895 | Samsung Electronics Co Ltd, (2) | 3,527,430 | ||||
Total Technology Hardware, Storage & Peripherals | 5,472,801 | |||||
Textiles, Apparel & Luxury Goods – 1.0% | ||||||
9,916 | Cie Financiere Richemont SA, (2) | 1,202,103 | ||||
Wireless Telecommunication Services – 2.9% | ||||||
12,402 | SK Telecom Co Ltd, (2) | 3,524,430 | ||||
5 | SK Telecom Co Ltd, Sponsored ADR | 157 | ||||
Total Wireless Telecommunication Services | 3,524,587 | |||||
Total Long-Term Investments (cost $78,260,346) | 119,608,139 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.3% | ||||||
REPURCHASE AGREEMENTS – 1.3% | ||||||
$ 1,590 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/21, repurchase price $1,590,130, collateralized by $1,440,500, Treasury Inflation Index, 0.125%, due 4/15/22, value $1,621,973 | 0.000% | 7/01/21 | $ 1,590,130 | ||
Total Short-Term Investments (cost $1,590,130) | 1,590,130 | |||||
Total Investments (cost $79,850,476) – 99.5% | 121,198,269 | |||||
Other Assets Less Liabilities – 0.5% | 631,688 | |||||
Net Assets – 100% | $ 121,829,957 |
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) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(3) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.0% | ||||||
COMMON STOCKS – 98.0% | ||||||
Aerospace & Defense – 5.6% | ||||||
6,777 | Curtiss-Wright Corp | $804,837 | ||||
11,384 | General Dynamics Corp | 2,143,152 | ||||
42,454 | Parsons Corp, (2) | 1,670,989 | ||||
Total Aerospace & Defense | 4,618,978 | |||||
Automobiles – 2.9% | ||||||
40,008 | General Motors Co, (2) | 2,367,273 | ||||
Banks – 10.2% | ||||||
26,555 | Bank of NT Butterfield & Son Ltd | 941,375 | ||||
34,430 | Citigroup Inc | 2,435,922 | ||||
57,160 | First Horizon Corp | 987,725 | ||||
13,184 | JPMorgan Chase & Co | 2,050,639 | ||||
42,951 | Wells Fargo & Co | 1,945,251 | ||||
Total Banks | 8,360,912 | |||||
Biotechnology – 3.9% | ||||||
546,305 | ADMA Biologics Inc, (2) | 874,088 | ||||
293,845 | Rigel Pharmaceuticals Inc, (2) | 1,275,287 | ||||
5,400 | Vertex Pharmaceuticals Inc, (2) | 1,088,802 | ||||
Total Biotechnology | 3,238,177 | |||||
Capital Markets – 5.1% | ||||||
14,852 | B Riley Financial Inc | 1,121,326 | ||||
31,664 | Cowen Inc | 1,299,807 | ||||
9,128 | Morgan Stanley | 836,946 | ||||
11,802 | State Street Corp | 971,069 | ||||
Total Capital Markets | 4,229,148 | |||||
Chemicals – 3.2% | ||||||
15,079 | DuPont de Nemours Inc | 1,167,265 | ||||
16,052 | Innospec Inc | 1,454,472 | ||||
Total Chemicals | 2,621,737 | |||||
Communications Equipment – 2.7% | ||||||
45,021 | Viasat Inc, (2) | 2,243,847 | ||||
Consumer Finance – 1.6% | ||||||
11,193 | Discover Financial Services | 1,324,020 |
Shares | Description (1) | Value | ||||
Diversified Consumer Services – 1.8% | ||||||
136,322 | Houghton Mifflin Harcourt Co, (2) | $ 1,504,995 | ||||
Electric Utilities – 2.6% | ||||||
19,862 | Alliant Energy Corp | 1,107,505 | ||||
12,162 | Pinnacle West Capital Corp | 996,919 | ||||
Total Electric Utilities | 2,104,424 | |||||
Electrical Equipment – 4.3% | ||||||
3,796 | Hubbell Inc | 709,245 | ||||
90,384 | nVent Electric PLC | 2,823,596 | ||||
Total Electrical Equipment | 3,532,841 | |||||
Energy Equipment & Services – 1.8% | ||||||
63,074 | Baker Hughes Co | 1,442,502 | ||||
Equity Real Estate Investment Trust – 2.5% | ||||||
31,663 | Healthcare Realty Trust Inc | 956,222 | ||||
30,290 | STAG Industrial Inc | 1,133,755 | ||||
Total Equity Real Estate Investment Trust | 2,089,977 | |||||
Food & Staples Retailing – 3.8% | ||||||
43,670 | Sprouts Farmers Market Inc, (2) | 1,085,199 | ||||
14,386 | Walmart Inc | 2,028,714 | ||||
Total Food & Staples Retailing | 3,113,913 | |||||
Gas Utilities – 1.4% | ||||||
21,982 | National Fuel Gas Co | 1,148,559 | ||||
Health Care Equipment & Supplies – 1.7% | ||||||
11,232 | Medtronic PLC | 1,394,228 | ||||
Health Care Providers & Services – 2.0% | ||||||
4,206 | Anthem Inc | 1,605,851 | ||||
Health Care Technology – 1.0% | ||||||
34,776 | Change Healthcare Inc, (2) | 801,239 | ||||
Hotels, Restaurants & Leisure – 2.0% | ||||||
27,262 | Brinker International Inc, (2) | 1,686,155 | ||||
Household Durables – 1.6% | ||||||
24,607 | PulteGroup Inc | 1,342,804 | ||||
Insurance – 3.6% | ||||||
4,400 | Aon PLC | 1,050,544 | ||||
9,417 | Globe Life Inc | 896,969 | ||||
6,962 | RenaissanceRe Holdings Ltd | 1,036,085 | ||||
Total Insurance | 2,983,598 |
Shares | Description (1) | Value | ||||
Interactive Media & Services – 3.6% | ||||||
42,489 | TripAdvisor Inc, (2) | $1,712,307 | ||||
31,702 | Yelp Inc, (2) | 1,266,812 | ||||
Total Interactive Media & Services | 2,979,119 | |||||
IT Services – 2.0% | ||||||
15,298 | Fiserv Inc, (2) | 1,635,203 | ||||
Life Sciences Tools & Services – 2.6% | ||||||
24,033 | Syneos Health Inc, (2) | 2,150,713 | ||||
Machinery – 0.9% | ||||||
18,661 | Flowserve Corp | 752,412 | ||||
Media – 1.9% | ||||||
26,936 | Comcast Corp, Class A | 1,535,891 | ||||
Oil, Gas & Consumable Fuels – 4.2% | ||||||
10,061 | Cheniere Energy Inc, (2) | 872,691 | ||||
10,736 | Chevron Corp | 1,124,489 | ||||
16,685 | Hess Corp | 1,456,934 | ||||
Total Oil, Gas & Consumable Fuels | 3,454,114 | |||||
Pharmaceuticals – 3.7% | ||||||
44,886 | GlaxoSmithKline PLC, Sponsored ADR, (3) | 1,787,361 | ||||
74,346 | Takeda Pharmaceutical Co Ltd, Sponsored ADR | 1,251,243 | ||||
Total Pharmaceuticals | 3,038,604 | |||||
Semiconductors & Semiconductor Equipment – 1.7% | ||||||
60,454 | Rambus Inc, (2) | 1,433,364 | ||||
Software – 7.5% | ||||||
56,465 | NortonLifeLock Inc | 1,536,977 | ||||
32,279 | Oracle Corp | 2,512,598 | ||||
43,028 | Teradata Corp, (2) | 2,150,109 | ||||
Total Software | 6,199,684 | |||||
Specialty Retail – 3.5% | ||||||
5,460 | Advance Auto Parts Inc | 1,120,064 | ||||
45,820 | American Eagle Outfitters Inc | 1,719,625 | ||||
Total Specialty Retail | 2,839,689 | |||||
Wireless Telecommunication Services – 1.1% | ||||||
6,113 | T-Mobile US Inc, (2) | 885,346 | ||||
Total Long-Term Investments (cost $62,174,310) | 80,659,317 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 2.2% | ||||||
MONEY MARKET FUNDS – 2.2% | ||||||
1,810,831 | State Street Navigator Securities Lending Government Money Market Portfolio, (4) | 0.020% (5) | $ 1,810,831 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $1,810,831) | 1,810,831 |
Principal Amount (000) | Description | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 2.8% | ||||||
REPURCHASE AGREEMENTS – 2.8% | ||||||
$ 2,315 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/21, repurchase price $2,315,396, collateralized by $2,405,400, U.S Treasury Bonds, 1.875%, due 2/15/41, value $2,361,709 | 0.000% | 7/01/21 | $ 2,315,396 | ||
Total Short-Term Investments (cost $2,315,396) | 2,315,396 | |||||
Total Investments (cost $66,300,537) – 103.0% | 84,785,544 | |||||
Other Assets Less Liabilities – (3.0)% | (2,507,675) | |||||
Net Assets – 100% | $ 82,277,869 |
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 an ex-dividend date within the past twelve months. | |
(3) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $1,769,481. | |
(4) | The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. | |
(5) | The rate shown is the one-day yield as of the end of the reporting period. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 97.2% | ||||||
COMMON STOCKS – 97.2% | ||||||
Aerospace & Defense – 4.8% | ||||||
2,993 | General Dynamics Corp | $563,462 | ||||
4,461 | Raytheon Technologies Corp | 380,568 | ||||
Total Aerospace & Defense | 944,030 | |||||
Automobiles – 3.4% | ||||||
11,308 | General Motors Co, (2) | 669,094 | ||||
Banks – 11.1% | ||||||
9,816 | Citigroup Inc | 694,482 | ||||
19,936 | First Horizon Corp | 344,494 | ||||
4,165 | JPMorgan Chase & Co | 647,824 | ||||
11,424 | Wells Fargo & Co | 517,393 | ||||
Total Banks | 2,204,193 | |||||
Beverages – 1.5% | ||||||
5,538 | Coca-Cola Co | 299,661 | ||||
Biotechnology – 3.7% | ||||||
3,526 | Horizon Therapeutics Plc, (2) | 330,175 | ||||
1,981 | Vertex Pharmaceuticals Inc, (2) | 399,429 | ||||
Total Biotechnology | 729,604 | |||||
Capital Markets – 2.6% | ||||||
2,440 | Morgan Stanley | 223,724 | ||||
3,532 | State Street Corp | 290,613 | ||||
Total Capital Markets | 514,337 | |||||
Chemicals – 1.8% | ||||||
4,635 | DuPont de Nemours Inc | 358,795 | ||||
Communications Equipment – 2.8% | ||||||
11,060 | Viasat Inc, (2) | 551,230 | ||||
Consumer Finance – 2.1% | ||||||
3,476 | Discover Financial Services | 411,176 | ||||
Electric Utilities – 4.2% | ||||||
5,139 | Alliant Energy Corp | 286,551 | ||||
4,594 | Evergy Inc | 277,615 | ||||
3,298 | Pinnacle West Capital Corp | 270,337 | ||||
Total Electric Utilities | 834,503 |
Shares | Description (1) | Value | ||||
Electrical Equipment – 5.7% | ||||||
2,185 | Eaton Corp PLC | $323,773 | ||||
1,128 | Hubbell Inc | 210,756 | ||||
19,105 | nVent Electric PLC | 596,840 | ||||
Total Electrical Equipment | 1,131,369 | |||||
Energy Equipment & Services – 2.0% | ||||||
17,252 | Baker Hughes Co | 394,553 | ||||
Equity Real Estate Investment Trust – 1.4% | ||||||
1,482 | Alexandria Real Estate Equities Inc | 269,635 | ||||
Food & Staples Retailing – 2.6% | ||||||
3,601 | Walmart Inc | 507,813 | ||||
Health Care Equipment & Supplies – 2.0% | ||||||
3,152 | Medtronic PLC | 391,258 | ||||
Health Care Providers & Services – 4.2% | ||||||
1,283 | Anthem Inc | 489,849 | ||||
2,582 | Quest Diagnostics Inc | 340,747 | ||||
Total Health Care Providers & Services | 830,596 | |||||
Hotels, Restaurants & Leisure – 1.8% | �� | |||||
6,850 | Las Vegas Sands Corp, (2) | 360,927 | ||||
Household Durables – 1.8% | ||||||
6,506 | PulteGroup Inc | 355,032 | ||||
Insurance – 5.4% | ||||||
5,488 | American International Group Inc | 261,229 | ||||
1,249 | Aon PLC | 298,211 | ||||
3,118 | Globe Life Inc | 296,989 | ||||
1,480 | RenaissanceRe Holdings Ltd | 220,254 | ||||
Total Insurance | 1,076,683 | |||||
Interactive Media & Services – 4.1% | ||||||
180 | Alphabet Inc, Class A, (2) | 439,522 | ||||
9,110 | TripAdvisor Inc, (2) | 367,133 | ||||
Total Interactive Media & Services | 806,655 | |||||
IT Services – 3.3% | ||||||
4,604 | Fiserv Inc, (2) | 492,122 | ||||
1,028 | International Business Machines Corp | 150,694 | ||||
Total IT Services | 642,816 | |||||
Life Sciences Tools & Services – 1.4% | ||||||
3,135 | Syneos Health Inc, (2) | 280,551 |
Shares | Description (1) | Value | ||||
Media – 2.2% | ||||||
7,774 | Comcast Corp, Class A | $ 443,274 | ||||
Metals & Mining – 1.6% | ||||||
5,262 | BHP Group PLC, Sponsored ADR | 314,089 | ||||
Oil, Gas & Consumable Fuels – 4.6% | ||||||
2,420 | Cheniere Energy Inc, (2) | 209,911 | ||||
3,359 | Chevron Corp | 351,822 | ||||
4,010 | Hess Corp | 350,153 | ||||
Total Oil, Gas & Consumable Fuels | 911,886 | |||||
Pharmaceuticals – 4.5% | ||||||
12,691 | GlaxoSmithKline PLC, Sponsored ADR, (3) | 505,355 | ||||
22,895 | Takeda Pharmaceutical Co Ltd, Sponsored ADR, (3) | 385,323 | ||||
Total Pharmaceuticals | 890,678 | |||||
Semiconductors & Semiconductor Equipment – 1.2% | ||||||
4,144 | Intel Corp | 232,644 | ||||
Software – 5.3% | ||||||
16,262 | NortonLifeLock Inc | 442,652 | ||||
7,884 | Oracle Corp | 613,690 | ||||
Total Software | 1,056,342 | |||||
Specialty Retail – 1.6% | ||||||
1,561 | Advance Auto Parts Inc | 320,224 | ||||
Tobacco – 1.3% | ||||||
2,660 | Philip Morris International Inc | 263,633 | ||||
Wireless Telecommunication Services – 1.2% | ||||||
1,667 | T-Mobile US Inc, (2) | 241,432 | ||||
Total Long-Term Investments (cost $13,374,919) | 19,238,713 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 2.7% | ||||||
MONEY MARKET FUNDS – 2.7% | ||||||
537,863 | State Street Navigator Securities Lending Government Money Market Portfolio, (4) | 0.020% (5) | $ 537,863 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $537,863) | 537,863 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 2.2% | ||||||
REPURCHASE AGREEMENTS – 2.2% | ||||||
$ 436 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/21, repurchase price $435,758, collateralized by $452,700, U.S Treasury Bonds, 1.875%, due 2/15/41, value $444,477 | 0.000% | 7/01/21 | $ 435,758 | ||
Total Short-Term Investments (cost $435,758) | 435,758 | |||||
Total Investments (cost $14,348,540) – 102.1% | 20,212,334 | |||||
Other Assets Less Liabilities – (2.1)% | (417,332) | |||||
Net Assets – 100% | $ 19,795,002 |
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 an ex-dividend date within the past twelve months. | |
(3) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $525,543. | |
(4) | The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. | |
(5) | The rate shown is the one-day yield as of the end of the reporting period. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 95.2% | ||||||
COMMON STOCKS – 95.2% | ||||||
Aerospace & Defense – 3.0% | ||||||
3,967 | Curtiss-Wright Corp | $471,121 | ||||
23,938 | Parsons Corp, (2) | 942,200 | ||||
Total Aerospace & Defense | 1,413,321 | |||||
Auto Components – 1.5% | ||||||
14,699 | BorgWarner Inc | 713,489 | ||||
Banks – 10.9% | ||||||
24,834 | Ameris Bancorp | 1,257,345 | ||||
23,217 | Bank of NT Butterfield & Son Ltd | 823,043 | ||||
58,780 | First Horizon Corp | 1,015,718 | ||||
18,804 | PacWest Bancorp | 773,973 | ||||
12,937 | Western Alliance Bancorp | 1,201,201 | ||||
Total Banks | 5,071,280 | |||||
Biotechnology – 5.5% | ||||||
230,737 | ADMA Biologics Inc, (2) | 369,179 | ||||
6,954 | Arena Pharmaceuticals Inc, (2) | 474,263 | ||||
32,199 | Coherus Biosciences Inc, (2) | 445,312 | ||||
147,500 | Rigel Pharmaceuticals Inc, (2) | 640,150 | ||||
3,549 | United Therapeutics Corp, (2) | 636,726 | ||||
Total Biotechnology | 2,565,630 | |||||
Building Products – 1.4% | ||||||
15,377 | Builders FirstSource Inc, (2) | 655,983 | ||||
Capital Markets – 2.0% | ||||||
22,838 | Cowen Inc | 937,500 | ||||
Chemicals – 2.9% | ||||||
15,193 | Huntsman Corp | 402,919 | ||||
20,351 | Olin Corp | 941,437 | ||||
Total Chemicals | 1,344,356 | |||||
Communications Equipment – 4.7% | ||||||
12,091 | Ciena Corp, (2) | 687,857 | ||||
25,508 | Juniper Networks Inc | 697,644 | ||||
16,445 | Viasat Inc, (2) | 819,619 | ||||
Total Communications Equipment | 2,205,120 |
Shares | Description (1) | Value | ||||
Diversified Consumer Services – 2.2% | ||||||
91,487 | Houghton Mifflin Harcourt Co, (2) | $ 1,010,016 | ||||
Electric Utilities – 2.3% | ||||||
5,657 | IDACORP Inc | 551,557 | ||||
6,212 | Pinnacle West Capital Corp | 509,198 | ||||
Total Electric Utilities | 1,060,755 | |||||
Electrical Equipment – 6.5% | ||||||
10,724 | EnerSys | 1,048,056 | ||||
3,557 | Hubbell Inc | 664,590 | ||||
41,271 | nVent Electric PLC | 1,289,306 | ||||
Total Electrical Equipment | 3,001,952 | |||||
Electronic Equipment, Instruments & Components – 2.0% | ||||||
8,652 | Belden Inc | 437,532 | ||||
21,286 | Vishay Intertechnology Inc | 479,999 | ||||
Total Electronic Equipment, Instruments & Components | 917,531 | |||||
Energy Equipment & Services – 2.1% | ||||||
62,277 | NOV Inc, (2) | 954,084 | ||||
Equity Real Estate Investment Trust – 5.9% | ||||||
36,137 | Brandywine Realty Trust | 495,438 | ||||
26,993 | Easterly Government Properties Inc | 569,012 | ||||
64,164 | SITE Centers Corp | 966,310 | ||||
19,615 | STAG Industrial Inc | 734,190 | ||||
Total Equity Real Estate Investment Trust | 2,764,950 | |||||
Food & Staples Retailing – 1.0% | ||||||
19,116 | Sprouts Farmers Market Inc, (2) | 475,033 | ||||
Food Products – 1.0% | ||||||
28,400 | Hostess Brands Inc, (2) | 459,796 | ||||
Gas Utilities – 1.1% | ||||||
9,332 | National Fuel Gas Co | 487,597 | ||||
Health Care Providers & Services – 1.5% | ||||||
10,257 | Tenet Healthcare Corp, (2) | 687,116 | ||||
Hotels, Restaurants & Leisure – 1.8% | ||||||
13,711 | Brinker International Inc, (2) | 848,025 | ||||
Household Durables – 1.5% | ||||||
12,674 | PulteGroup Inc | 691,620 | ||||
Insurance – 3.7% | ||||||
7,269 | eHealth Inc, (2) | 424,510 |
Shares | Description (1) | Value | ||||
Insurance (continued) | ||||||
3,635 | Everest Re Group Ltd | $916,056 | ||||
2,425 | RenaissanceRe Holdings Ltd | 360,888 | ||||
Total Insurance | 1,701,454 | |||||
Interactive Media & Services – 3.9% | ||||||
27,814 | TripAdvisor Inc, (2) | 1,120,904 | ||||
17,437 | Yelp Inc, (2) | 696,783 | ||||
Total Interactive Media & Services | 1,817,687 | |||||
IT Services – 1.4% | ||||||
4,820 | Euronet Worldwide Inc, (2) | 652,387 | ||||
Life Sciences Tools & Services – 2.9% | ||||||
948 | Bio-Rad Laboratories Inc, (2) | 610,787 | ||||
8,204 | Syneos Health Inc, (2) | 734,176 | ||||
Total Life Sciences Tools & Services | 1,344,963 | |||||
Machinery – 2.7% | ||||||
13,071 | Federal Signal Corp | 525,846 | ||||
18,437 | Flowserve Corp | 743,380 | ||||
Total Machinery | 1,269,226 | |||||
Metals & Mining – 2.9% | ||||||
9,113 | Materion Corp | 686,665 | ||||
4,429 | Reliance Steel & Aluminum Co | 668,336 | ||||
Total Metals & Mining | 1,355,001 | |||||
Multiline Retail – 1.8% | ||||||
23,069 | Nordstrom Inc, (2) | 843,633 | ||||
Oil, Gas & Consumable Fuels – 3.3% | ||||||
99,477 | Magnolia Oil & Gas Corp, (2) | 1,554,826 | ||||
Road & Rail – 1.4% | ||||||
14,521 | Knight-Swift Transportation Holdings Inc | 660,125 | ||||
Semiconductors & Semiconductor Equipment – 3.4% | ||||||
4,487 | First Solar Inc, (2) | 406,118 | ||||
49,204 | Rambus Inc, (2) | 1,166,627 | ||||
Total Semiconductors & Semiconductor Equipment | 1,572,745 | |||||
Software – 2.7% | ||||||
25,522 | Teradata Corp, (2) | 1,275,334 | ||||
Specialty Retail – 4.3% | ||||||
3,827 | Advance Auto Parts Inc | 785,071 |
Shares | Description (1) | Value | ||||
Specialty Retail (continued) | ||||||
32,559 | American Eagle Outfitters Inc | $ 1,221,939 | ||||
Total Specialty Retail | 2,007,010 | |||||
Total Long-Term Investments (cost $34,268,489) | 44,319,545 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 5.2% | ||||||
REPURCHASE AGREEMENTS – 5.2% | ||||||
$ 2,419 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/21, repurchase price $2,418,772, collateralized by $2,512,800, U.S Treasury Bonds, 1.875%, due 2/15/41, value $2,467,159 | 0.000% | 7/01/21 | $ 2,418,772 | ||
Total Short-Term Investments (cost $2,418,772) | 2,418,772 | |||||
Total Investments (cost $36,687,261) – 100.4% | 46,738,317 | |||||
Other Assets Less Liabilities – (0.4)% | (169,559) | |||||
Net Assets – 100% | $ 46,568,758 |
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 an ex-dividend date within the past twelve months. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 97.3% | ||||||
COMMON STOCKS – 97.3% | ||||||
Aerospace & Defense – 2.0% | ||||||
152,831 | Parsons Corp, (2) | $ 6,015,428 | ||||
Banks – 15.9% | ||||||
374,799 | Amalgamated Financial Corp | 5,858,108 | ||||
134,781 | Ameris Bancorp | 6,823,962 | ||||
332,371 | Banc of California Inc | 5,829,787 | ||||
114,718 | Bank of NT Butterfield & Son Ltd | 4,066,753 | ||||
120,784 | Enterprise Financial Services Corp | 5,603,170 | ||||
149,216 | PacWest Bancorp | 6,141,731 | ||||
81,388 | South State Corp | 6,654,283 | ||||
79,585 | Western Alliance Bancorp | 7,389,467 | ||||
Total Banks | 48,367,261 | |||||
Biotechnology – 5.6% | ||||||
1,490,695 | ADMA Biologics Inc, (2) | 2,385,112 | ||||
45,900 | Arena Pharmaceuticals Inc, (2) | 3,130,380 | ||||
197,834 | Coherus Biosciences Inc, (2) | 2,736,044 | ||||
1,028,249 | Rigel Pharmaceuticals Inc, (2) | 4,462,601 | ||||
24,956 | United Therapeutics Corp, (2) | 4,477,356 | ||||
Total Biotechnology | 17,191,493 | |||||
Capital Markets – 2.3% | ||||||
173,574 | Cowen Inc | 7,125,213 | ||||
Chemicals – 1.3% | ||||||
43,482 | Innospec Inc | 3,939,904 | ||||
Communications Equipment – 3.0% | ||||||
167,158 | Digi International Inc, (2) | 3,361,547 | ||||
114,684 | Viasat Inc, (2) | 5,715,851 | ||||
Total Communications Equipment | 9,077,398 | |||||
Construction & Engineering – 1.6% | ||||||
85,442 | Arcosa Inc | 5,018,863 | ||||
Diversified Consumer Services – 2.2% | ||||||
610,080 | Houghton Mifflin Harcourt Co, (2) | 6,735,283 | ||||
Electric Utilities – 2.1% | ||||||
35,883 | IDACORP Inc | 3,498,593 |
Shares | Description (1) | Value | ||||
Electric Utilities (continued) | ||||||
60,679 | Portland General Electric Co | $ 2,796,088 | ||||
Total Electric Utilities | 6,294,681 | |||||
Electrical Equipment – 5.6% | ||||||
72,458 | EnerSys | 7,081,320 | ||||
317,921 | nVent Electric PLC | 9,931,852 | ||||
Total Electrical Equipment | 17,013,172 | |||||
Electronic Equipment, Instruments & Components – 2.3% | ||||||
57,474 | Belden Inc | 2,906,460 | ||||
185,782 | Vishay Intertechnology Inc | 4,189,384 | ||||
Total Electronic Equipment, Instruments & Components | 7,095,844 | |||||
Energy Equipment & Services – 3.3% | ||||||
286,639 | National Energy Services Reunited Corp, (2) | 4,084,606 | ||||
399,005 | NOV Inc, (2) | 6,112,756 | ||||
Total Energy Equipment & Services | 10,197,362 | |||||
Equity Real Estate Investment Trust – 5.9% | ||||||
236,869 | Brandywine Realty Trust | 3,247,474 | ||||
171,575 | Easterly Government Properties Inc | 3,616,801 | ||||
424,346 | SITE Centers Corp | 6,390,651 | ||||
123,149 | STAG Industrial Inc | 4,609,467 | ||||
Total Equity Real Estate Investment Trust | 17,864,393 | |||||
Food & Staples Retailing – 1.1% | ||||||
136,457 | Sprouts Farmers Market Inc, (2) | 3,390,956 | ||||
Food Products – 1.0% | ||||||
187,864 | Hostess Brands Inc, (2) | 3,041,518 | ||||
Gas Utilities – 1.1% | ||||||
65,034 | National Fuel Gas Co | 3,398,027 | ||||
Health Care Providers & Services – 1.5% | ||||||
67,817 | Tenet Healthcare Corp, (2) | 4,543,061 | ||||
Hotels, Restaurants & Leisure – 3.1% | ||||||
340,378 | El Pollo Loco Holdings Inc, (2) | 6,225,513 | ||||
144,923 | Ruth's Hospitality Group Inc, (2) | 3,337,577 | ||||
Total Hotels, Restaurants & Leisure | 9,563,090 | |||||
Insurance – 0.9% | ||||||
48,099 | eHealth Inc, (2) | 2,808,982 | ||||
Interactive Media & Services – 4.1% | ||||||
184,452 | TripAdvisor Inc, (2) | 7,433,416 |
Shares | Description (1) | Value | ||||
Interactive Media & Services (continued) | ||||||
123,144 | Yelp Inc, (2) | $ 4,920,834 | ||||
Total Interactive Media & Services | 12,354,250 | |||||
Leisure Products – 2.4% | ||||||
205,939 | American Outdoor Brands Inc, (2) | 7,236,696 | ||||
Machinery – 3.6% | ||||||
95,804 | Federal Signal Corp | 3,854,195 | ||||
107,524 | Flowserve Corp | 4,335,368 | ||||
133,772 | Mayville Engineering Co Inc, (2) | 2,690,155 | ||||
Total Machinery | 10,879,718 | |||||
Metals & Mining – 4.0% | ||||||
63,358 | Kaiser Aluminum Corp | 7,824,080 | ||||
60,044 | Materion Corp | 4,524,315 | ||||
Total Metals & Mining | 12,348,395 | |||||
Multiline Retail – 1.9% | ||||||
158,102 | Nordstrom Inc, (2) | 5,781,790 | ||||
Oil, Gas & Consumable Fuels – 3.3% | ||||||
645,042 | Magnolia Oil & Gas Corp, (2) | 10,082,006 | ||||
Pharmaceuticals – 1.1% | ||||||
64,678 | Prestige Consumer Healthcare Inc, (2) | 3,369,724 | ||||
Road & Rail – 1.7% | ||||||
305,739 | Marten Transport Ltd | 5,041,636 | ||||
Semiconductors & Semiconductor Equipment – 4.5% | ||||||
345,959 | Rambus Inc, (2) | 8,202,688 | ||||
182,489 | Tower Semiconductor Ltd, (2) | 5,370,651 | ||||
Total Semiconductors & Semiconductor Equipment | 13,573,339 | |||||
Software – 2.9% | ||||||
176,345 | Teradata Corp, (2) | 8,811,960 | ||||
Specialty Retail – 2.6% | ||||||
215,135 | American Eagle Outfitters Inc | 8,074,017 | ||||
Thrifts & Mortgage Finance – 3.4% | ||||||
92,622 | Essent Group Ltd | 4,163,359 | ||||
154,257 | HomeStreet Inc | 6,284,430 | ||||
Total Thrifts & Mortgage Finance | 10,447,789 | |||||
Total Long-Term Investments (cost $228,654,957) | 296,683,249 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 2.6% | ||||||
REPURCHASE AGREEMENTS – 2.6% | ||||||
$ 8,042 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/21, repurchase price $8,042,069, collateralized by $8,354,700, U.S. Treasury Bonds, 1.875%, due 2/15/41, value $8,202,949 | 0.000% | 7/01/21 | $ 8,042,069 | ||
Total Short-Term Investments (cost $8,042,069) | 8,042,069 | |||||
Total Investments (cost $236,697,026) – 99.9% | 304,725,318 | |||||
Other Assets Less Liabilities – 0.1% | 348,183 | |||||
Net Assets – 100% | $ 305,073,501 |
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 an ex-dividend date within the past twelve months. |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Assets | ||||||
Long-term investments, at value (cost $116,226,492, $78,260,346, $62,174,310, $13,374,919, $34,268,489 and $228,654,957, respectively)(1) | $162,529,699 | $119,608,139 | $80,659,317 | $19,238,713 | $44,319,545 | $296,683,249 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | — | — | 1,810,831 | 537,863 | — | — |
Short-term investments, at value (cost approximates value) | — | 1,590,130 | 2,315,396 | 435,758 | 2,418,772 | 8,042,069 |
Cash | 2,304,439 | — | — | — | — | — |
Cash denominated in foreign currencies (cost $103,866, $91,639, $—, $—, $—and $—, respectively) | 103,472 | 91,249 | — | — | — | — |
Receivable for: | ||||||
Dividends | 427,272 | 357,910 | 72,963 | 23,788 | 37,059 | 186,022 |
Investments sold | 1,266,419 | — | — | 137,831 | — | — |
Reclaims | 223,572 | 477,934 | 5,441 | 3,774 | — | — |
Shares sold | 26,509 | 46,333 | 27,967 | 559 | 76,285 | 1,145,923 |
Other assets | 322,119 | 179,393 | 119,022 | 65,894 | 29,588 | 76,015 |
Total assets | 167,203,501 | 122,351,088 | 85,010,937 | 20,444,180 | 46,881,249 | 306,133,278 |
Liabilities | ||||||
Cash overdraft | — | 5,528 | — | 104 | 8 | — |
Payable for: | ||||||
Collateral from securities lending program | — | — | 1,810,831 | 537,863 | — | — |
Dividends | 64,563 | — | — | — | — | — |
Investments purchased - regular settlement | — | — | 395,545 | — | 208,263 | — |
Shares redeemed | 304,133 | 96,050 | 293,079 | 337 | 24,082 | 544,592 |
Accrued expenses: | ||||||
Custodian fees | 75,203 | 89,632 | 43,904 | 34,092 | 39,360 | 58,961 |
Management fees | 102,741 | 58,535 | 42,552 | 86 | 6,250 | 195,867 |
Shareholder reporting expenses | 23,881 | 57,354 | 10,076 | 6,582 | 5,347 | 64,165 |
Shareholder servicing agent fees | 46,295 | 41,455 | 14,100 | 8,299 | 12,154 | 113,948 |
Trustees fees | 281,215 | 140,586 | 94,253 | 43,613 | 365 | 36,267 |
12b-1 distribution and service fees | 25,891 | 4,987 | 10,128 | 2,285 | 1,141 | 12,882 |
Other | 42,703 | 27,004 | 18,600 | 15,917 | 15,521 | 33,095 |
Total liabilities | 966,625 | 521,131 | 2,733,068 | 649,178 | 312,491 | 1,059,777 |
Net assets | $166,236,876 | $121,829,957 | $82,277,869 | $19,795,002 | $46,568,758 | $305,073,501 |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Class A Shares | ||||||
Net assets | $ 105,751,491 | $ 22,153,476 | $43,489,489 | $ 5,419,483 | $ 3,320,921 | $ 27,091,010 |
Shares outstanding | 3,291,250 | 798,889 | 1,048,981 | 1,120,390 | 103,372 | 492,055 |
Net asset value ("NAV") per share | $ 32.13 | $ 27.73 | $ 41.46 | $ 4.84 | $ 32.13 | $ 55.06 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 34.09 | $ 29.42 | $ 43.99 | $ 5.14 | $ 34.09 | $ 58.42 |
Class C Shares | ||||||
Net assets | $ 4,659,706 | $ 364,985 | $ 1,347,066 | $ 1,367,584 | $ 538,351 | $ 8,428,506 |
Shares outstanding | 145,339 | 13,841 | 34,845 | 352,167 | 19,527 | 176,169 |
NAV and offering price per share | $ 32.06 | $ 26.37 | $ 38.66 | $ 3.88 | $ 27.57 | $ 47.84 |
Class R6 Shares | ||||||
Net assets | $ — | $ — | $ — | $ — | $19,155,098 | $ 6,160,391 |
Shares outstanding | — | — | — | — | 579,389 | 106,614 |
NAV and offering price per share | $ — | $ — | $ — | $ — | $ 33.06 | $ 57.78 |
Class I Shares | ||||||
Net assets | $ 55,825,679 | $ 99,311,496 | $37,441,314 | $13,007,935 | $23,554,388 | $263,393,594 |
Shares outstanding | 1,737,158 | 3,563,047 | 894,921 | 2,672,756 | 716,819 | 4,614,671 |
NAV and offering price per share | $ 32.14 | $ 27.87 | $ 41.84 | $ 4.87 | $ 32.86 | $ 57.08 |
Fund level net assets consist of: | ||||||
Capital paid-in | $ 364,991,280 | $ 288,619,783 | $71,299,003 | $11,297,877 | $32,393,741 | $218,851,291 |
Total distributable earnings | (198,754,404) | (166,789,826) | 10,978,866 | 8,497,125 | 14,175,017 | 86,222,210 |
Fund level net assets | $ 166,236,876 | $ 121,829,957 | $82,277,869 | $19,795,002 | $46,568,758 | $305,073,501 |
Authorized shares - per class | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
Par value per share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 |
(1) | Includes securities loaned of $1,769,481 and $525,543 for NWQ Multi-Cap Value and NWQ Large-Cap Value respectively. |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Investment Income | ||||||
Dividends | $ 5,661,916 | $ 5,241,050 | $ 1,182,634 | $ 357,180 | $ 416,290 | $ 2,965,087 |
Securities lending income, net | 1,839 | 6,311 | 3,212 | 843 | 102 | 2,299 |
Foreign tax withheld on dividend income | (289,009) | (454,263) | — | (7,108) | — | — |
Total investment income | 5,374,746 | 4,793,098 | 1,185,846 | 350,915 | 416,392 | 2,967,386 |
Expenses | ||||||
Management fees | 1,067,676 | 845,907 | 469,773 | 124,846 | 237,752 | 1,864,539 |
12b-1 service fees - Class A Shares | 231,210 | 49,761 | 89,831 | 11,039 | 6,740 | 60,621 |
12b-1 distribution and service fees - Class C Shares | 91,185 | 6,168 | 12,496 | 17,003 | 6,108 | 79,377 |
12b-1 distribution and service fees - Class R3 Shares(1) | 2,788 | 2,296 | — | 387 | 1,041 | 11,079 |
Shareholder servicing agent fees | 151,116 | 123,724 | 53,737 | 23,021 | 22,747 | 388,613 |
Interest expense | 617 | 805 | 403 | 342 | 92 | 1,050 |
Custodian fees | 61,378 | 70,121 | 37,579 | 28,136 | 32,440 | 46,230 |
Professional fees | 95,333 | 59,308 | 34,632 | 27,233 | 28,851 | 58,472 |
Trustees fees | 3,858 | 3,084 | 1,679 | 484 | 801 | 5,444 |
Shareholder reporting expenses | 79,417 | 69,957 | 28,136 | 18,372 | 22,703 | 128,968 |
Federal and state registration fees | 61,284 | 58,981 | 57,556 | 57,718 | 70,454 | 78,114 |
Other | 8,577 | 8,394 | 7,039 | 7,162 | 7,712 | 14,038 |
Total expenses before fee waiver/expense reimbursement | 1,854,439 | 1,298,506 | 792,861 | 315,743 | 437,441 | 2,736,545 |
Fee waiver/expense reimbursement | (231,069) | (166,543) | (94,185) | (145,153) | (105,125) | (26,200) |
Net expenses | 1,623,370 | 1,131,963 | 698,676 | 170,590 | 332,316 | 2,710,345 |
Net investment income (loss) | 3,751,376 | 3,661,135 | 487,170 | 180,325 | 84,076 | 257,041 |
Realized and Unrealized Gain (Loss) | ||||||
Net realized gain (loss) from: | ||||||
Investments and foreign currency | 11,965,025 | 11,448,651 | 7,291,444 | 4,026,635 | 5,299,311 | 59,072,369 |
Options written | 52,236 | — | — | — | — | — |
Change in net unrealized appreciation (depreciation) of: | ||||||
Investments and foreign currency | 35,445,147 | 25,323,135 | 21,798,579 | 2,652,029 | 8,373,577 | 51,255,908 |
Net realized and unrealized gain (loss) | 47,462,408 | 36,771,786 | 29,090,023 | 6,678,664 | 13,672,888 | 110,328,277 |
Net increase (decrease) in net assets from operations | $51,213,784 | $40,432,921 | $29,577,193 | $6,858,989 | $13,756,964 | $110,585,318 |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
NWQ Global Equity Income | NWQ International Value | ||||
Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/21 | Year Ended 6/30/20 | ||
Operations | |||||
Net investment income (loss) | $ 3,751,376 | $ 4,076,059 | $ 3,661,135 | $ 2,946,333 | |
Net realized gain (loss) from: | |||||
Investments and foreign currency | 11,965,025 | (12,951,300) | 11,448,651 | (1,762,166) | |
Options written | 52,236 | 62,265 | — | — | |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments and foreign currency | 35,445,147 | (9,095,548) | 25,323,135 | (17,524,860) | |
Net increase (decrease) in net assets from operations | 51,213,784 | (17,908,524) | 40,432,921 | (16,340,693) | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (2,267,018) | (2,229,310) | (382,969) | (665,986) | |
Class C Shares | (137,057) | (368,666) | (8,350) | (41,146) | |
Class R3 Shares(1) | (8,915) | (15,950) | (7,359) | (30,895) | |
Class R6 Shares | — | — | — | — | |
Class I Shares | (1,334,285) | (1,428,813) | (2,141,648) | (5,574,857) | |
Return of capital: | |||||
Class A Shares | — | — | — | — | |
Class C Shares | — | — | — | — | |
Class R3 Shares(1) | — | — | — | — | |
Class R6 Shares | — | — | — | — | |
Class I Shares | — | — | — | — | |
Decrease in net assets from distributions to shareholders | (3,747,275) | (4,042,739) | (2,540,326) | (6,312,884) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 20,304,472 | 25,052,058 | 11,221,658 | 21,100,383 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 3,540,336 | 3,805,141 | 2,475,399 | 6,185,314 | |
23,844,808 | 28,857,199 | 13,697,057 | 27,285,697 | ||
Cost of shares redeemed | (44,874,875) | (72,400,519) | (40,790,878) | (139,293,026) | |
Net increase (decrease) in net assets from Fund share transactions | (21,030,067) | (43,543,320) | (27,093,821) | (112,007,329) | |
Net increase (decrease) in net assets | 26,436,442 | (65,494,583) | 10,798,774 | (134,660,906) | |
Net assets at the beginning of period | 139,800,434 | 205,295,017 | 111,031,183 | 245,692,089 | |
Net assets at the end of period | $166,236,876 | $139,800,434 | $121,829,957 | $ 111,031,183 |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
NWQ Multi-Cap Value | NWQ Large-Cap Value | ||||
Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/21 | Year Ended 6/30/20 | ||
Operations | |||||
Net investment income (loss) | $ 487,170 | $ 1,723,460 | $ 180,325 | $ 1,030,519 | |
Net realized gain (loss) from: | |||||
Investments and foreign currency | 7,291,444 | (14,015,559) | 4,026,635 | 3,154,502 | |
Options written | — | — | — | — | |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments and foreign currency | 21,798,579 | 367,739 | 2,652,029 | (8,796,296) | |
Net increase (decrease) in net assets from operations | 29,577,193 | (11,924,360) | 6,858,989 | (4,611,275) | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (691,357) | (442,450) | (612,121) | (593,470) | |
Class C Shares | (14,322) | (10,284) | (328,974) | (380,680) | |
Class R3 Shares(1), (2) | — | — | (12,876) | (10,557) | |
Class R6 Shares | — | — | — | — | |
Class I Shares | (613,033) | (502,661) | (2,024,952) | (4,510,985) | |
Return of capital: | |||||
Class A Shares | (365,765) | — | — | — | |
Class C Shares | (14,049) | — | — | — | |
Class R3 Shares(1), (2) | — | — | — | — | |
Class R6 Shares | — | — | — | — | |
Class I Shares | (296,068) | — | — | — | |
Decrease in net assets from distributions to shareholders | (1,994,594) | (955,395) | (2,978,923) | (5,495,692) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 13,542,875 | 3,854,968 | 2,587,334 | 5,847,453 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 1,818,505 | 878,183 | 2,860,497 | 5,423,752 | |
15,361,380 | 4,733,151 | 5,447,831 | 11,271,205 | ||
Cost of shares redeemed | (15,833,969) | (20,355,601) | (8,789,368) | (27,800,929) | |
Net increase (decrease) in net assets from Fund share transactions | (472,589) | (15,622,450) | (3,341,537) | (16,529,724) | |
Net increase (decrease) in net assets | 27,110,010 | (28,502,205) | 538,529 | (26,636,691) | |
Net assets at the beginning of period | 55,167,859 | 83,670,064 | 19,256,473 | 45,893,164 | |
Net assets at the end of period | $ 82,277,869 | $ 55,167,859 | $19,795,002 | $ 19,256,473 |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
(2) | Effective August 5, 2019, Class R3 Shares of NWQ Multi-Cap Value are no long being offered for sale. |
NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | ||||
Year Ended 6/30/21 | Year Ended 6/30/20 | Year Ended 6/30/21 | Year Ended 6/30/20 | ||
Operations | |||||
Net investment income (loss) | $ 84,076 | $ 185,422 | $ 257,041 | $ 1,791,231 | |
Net realized gain (loss) from: | |||||
Investments and foreign currency | 5,299,311 | (464,971) | 59,072,369 | (19,751,510) | |
Options written | — | — | — | — | |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments and foreign currency | 8,373,577 | (2,487,259) | 51,255,908 | (44,065,240) | |
Net increase (decrease) in net assets from operations | 13,756,964 | (2,766,808) | 110,585,318 | (62,025,519) | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (6,042) | (11,173) | (135,444) | (2,691,806) | |
Class C Shares | — | — | — | (819,126) | |
Class R3 Shares(1) | (71) | (362) | (8,403) | (208,715) | |
Class R6 Shares | (66,601) | (74,182) | (57,035) | (1,295,452) | |
Class I Shares | (65,867) | (54,788) | (1,474,480) | (23,595,162) | |
Return of capital: | |||||
Class A Shares | — | — | — | — | |
Class C Shares | — | — | — | — | |
Class R3 Shares(1) | — | — | — | — | |
Class R6 Shares | — | — | — | — | |
Class I Shares | — | — | — | — | |
Decrease in net assets from distributions to shareholders | (138,581) | (140,505) | (1,675,362) | (28,610,261) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 24,039,673 | 13,803,121 | 79,786,080 | 97,163,173 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 137,331 | 137,529 | 1,598,145 | 27,180,359 | |
24,177,004 | 13,940,650 | 81,384,225 | 124,343,532 | ||
Cost of shares redeemed | (12,096,775) | (13,779,883) | (80,440,650) | (390,798,548) | |
Net increase (decrease) in net assets from Fund share transactions | 12,080,229 | 160,767 | 943,575 | (266,455,016) | |
Net increase (decrease) in net assets | 25,698,612 | (2,746,546) | 109,853,531 | (357,090,796) | |
Net assets at the beginning of period | 20,870,146 | 23,616,692 | 195,219,970 | 552,310,766 | |
Net assets at the end of period | $ 46,568,758 | $ 20,870,146 | $305,073,501 | $ 195,219,970 |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended June 30, | 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 (09/09) | |||||||||
2021 | $23.44 | $0.68 | $ 8.70 | $ 9.38 | $(0.69) | $ — | $(0.69) | $32.13 | |
2020 | 26.59 | 0.57 | (3.10) | (2.53) | (0.62) | — | (0.62) | 23.44 | |
2019 | 27.45 | 0.69 | (0.20) | 0.49 | (0.72) | (0.63) | (1.35) | 26.59 | |
2018 | 27.34 | 0.83 | 0.12 | 0.95 | (0.60) | (0.24) | (0.84) | 27.45 | |
2017 | 24.47 | 0.94 | 2.87 | 3.81 | (0.94) | —* | (0.94) | 27.34 | |
Class C (09/09) | |||||||||
2021 | 23.40 | 0.44 | 8.70 | 9.14 | (0.48) | — | (0.48) | 32.06 | |
2020 | 26.54 | 0.40 | (3.11) | (2.71) | (0.43) | — | (0.43) | 23.40 | |
2019 | 27.39 | 0.46 | (0.16) | 0.30 | (0.52) | (0.63) | (1.15) | 26.54 | |
2018 | 27.28 | 0.62 | 0.11 | 0.73 | (0.38) | (0.24) | (0.62) | 27.39 | |
2017 | 24.42 | 1.18 | 2.42 | 3.60 | (0.74) | —* | (0.74) | 27.28 | |
Class I (09/09) | |||||||||
2021 | 23.45 | 0.75 | 8.70 | 9.45 | (0.76) | — | (0.76) | 32.14 | |
2020 | 26.60 | 0.63 | (3.10) | (2.47) | (0.68) | — | (0.68) | 23.45 | |
2019 | 27.46 | 0.74 | (0.18) | 0.56 | (0.79) | (0.63) | (1.42) | 26.60 | |
2018 | 27.35 | 0.90 | 0.12 | 1.02 | (0.67) | (0.24) | (0.91) | 27.46 | |
2017 | 24.48 | 0.94 | 2.93 | 3.87 | (1.00) | —* | (1.00) | 27.35 |
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) | |
40.43% | $105,751 | 1.26% | 2.29% | 1.11% | 2.44% | 42 | |
(9.53) | 80,897 | 1.24 | 2.24 | 1.11 | 2.37 | 53 | |
2.23 | 103,494 | 1.19 | 2.52 | 1.11 | 2.60 | 30 | |
3.42 | 118,895 | 1.18 | 2.85 | 1.11 | 2.92 | 31 | |
15.75 | 152,606 | 1.33 | 3.36 | 1.11 | 3.58 | 86 | |
39.34 | 4,660 | 2.01 | 1.49 | 1.86 | 1.64 | 42 | |
(10.18) | 14,342 | 1.99 | 1.48 | 1.86 | 1.61 | 53 | |
1.45 | 37,564 | 1.94 | 1.68 | 1.86 | 1.76 | 30 | |
2.65 | 67,535 | 1.93 | 2.10 | 1.86 | 2.16 | 31 | |
14.87 | 81,440 | 2.03 | 4.24 | 1.86 | 4.41 | 86 | |
40.76 | 55,826 | 1.01 | 2.54 | 0.86 | 2.69 | 42 | |
(9.25) | 43,978 | 0.99 | 2.49 | 0.86 | 2.62 | 53 | |
2.45 | 63,168 | 0.94 | 2.73 | 0.86 | 2.81 | 30 | |
3.69 | 82,677 | 0.92 | 3.08 | 0.86 | 3.15 | 31 | |
16.03 | 91,922 | 1.07 | 3.41 | 0.86 | 3.62 | 86 |
(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, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
* | 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 June 30, | 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 (12/99) | |||||||||
2021 | $20.17 | $0.70 | $ 7.34 | $ 8.04 | $(0.48) | $ — | $(0.48) | $27.73 | |
2020 | 23.39 | 0.32 | (2.83) | (2.51) | (0.71) | — | (0.71) | 20.17 | |
2019 | 25.16 | 0.50 | (2.01) | (1.51) | (0.26) | — | (0.26) | 23.39 | |
2018 | 24.91 | 0.38 | 0.62 | 1.00 | (0.75) | — | (0.75) | 25.16 | |
2017(e) | 22.22 | 0.40 | 2.71 | 3.11 | (0.42) | — | (0.42) | 24.91 | |
2016 | 24.59 | 0.47 | (2.53) | (2.06) | (0.31) | — | (0.31) | 22.22 | |
Class C (12/99) | |||||||||
2021 | 19.20 | 0.43 | 7.04 | 7.47 | (0.30) | — | (0.30) | 26.37 | |
2020 | 22.28 | 0.16 | (2.73) | (2.57) | (0.51) | — | (0.51) | 19.20 | |
2019 | 23.94 | 0.25 | (1.84) | (1.59) | (0.07) | — | (0.07) | 22.28 | |
2018 | 23.70 | 0.17 | 0.61 | 0.78 | (0.54) | — | (0.54) | 23.94 | |
2017(e) | 21.13 | 0.21 | 2.61 | 2.82 | (0.25) | — | (0.25) | 23.70 | |
2016 | 23.39 | 0.28 | (2.41) | (2.13) | (0.13) | — | (0.13) | 21.13 | |
Class I (12/99) | |||||||||
2021 | 20.27 | 0.75 | 7.38 | 8.13 | (0.53) | — | (0.53) | 27.87 | |
2020 | 23.50 | 0.36 | (2.82) | (2.46) | (0.77) | — | (0.77) | 20.27 | |
2019 | 25.29 | 0.58 | (2.04) | (1.46) | (0.33) | — | (0.33) | 23.50 | |
2018 | 25.03 | 0.46 | 0.62 | 1.08 | (0.82) | — | (0.82) | 25.29 | |
2017(e) | 22.33 | 0.50 | 2.68 | 3.18 | (0.48) | — | (0.48) | 25.03 | |
2016 | 24.72 | 0.53 | (2.54) | (2.01) | (0.38) | — | (0.38) | 22.33 |
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) | |
40.20% | $ 22,153 | 1.28% | 2.74% | 1.15% | 2.88% | 24% | |
(11.24) | 17,579 | 1.33 | 1.36 | 1.15 | 1.55 | 22 | |
(5.90) | 23,088 | 1.32 | 1.95 | 1.15 | 2.11 | 14 | |
3.92 | 26,710 | 1.27 | 1.34 | 1.15 | 1.46 | 17 | |
14.24 | 28,490 | 1.27* | 1.78* | 1.15* | 1.90* | 23 | |
(8.38) | 30,998 | 1.34 | 2.10 | 1.33 | 2.11 | 20 | |
39.17 | 365 | 2.03 | 1.79 | 1.90 | 1.93 | 24 | |
(11.88) | 963 | 2.08 | 0.57 | 1.90 | 0.76 | 22 | |
(6.68) | 3,055 | 2.07 | 0.97 | 1.90 | 1.14 | 14 | |
3.20 | 9,986 | 2.02 | 0.56 | 1.90 | 0.68 | 17 | |
13.47 | 11,688 | 2.02* | 0.95* | 1.90* | 1.06* | 23 | |
(9.11) | 16,182 | 2.09 | 1.32 | 2.08 | 1.33 | 20 | |
40.51 | 99,311 | 1.03 | 2.96 | 0.90 | 3.10 | 24 | |
(11.00) | 91,781 | 1.08 | 1.49 | 0.90 | 1.68 | 22 | |
(5.67) | 218,300 | 1.07 | 2.31 | 0.90 | 2.48 | 14 | |
4.20 | 251,067 | 1.02 | 1.65 | 0.90 | 1.76 | 17 | |
14.51 | 255,113 | 1.02* | 2.25* | 0.90* | 2.36* | 23 | |
(8.17) | 179,707 | 1.09 | 2.37 | 1.08 | 2.38 | 20 |
(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, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
(e) | For the eleven months ended June 30, 2017. Periods prior to 2017 are for the fiscal year ended July 31. |
* | Annualized. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | |||||||||
Class (Commencement Date) Year Ended June 30, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Return of Capital | Total | Ending NAV | |
Class A (12/02) | ||||||||||
2021 | $27.13 | $ 0.22 | $15.15 | $15.37 | $(0.69) | $ — | $(0.35) | $(1.04) | $41.46 | |
2020 | 32.55 | 0.66 | (5.70) | (5.04) | (0.38) | — | — | (0.38) | 27.13 | |
2019 | 31.84 | 0.26 | 0.45 | 0.71 | — | — | — | — | 32.55 | |
2018(e) | 29.15 | (0.18) | 3.42 | 3.24 | (0.55) | — | — | (0.55) | 31.84 | |
2017 | 23.86 | 0.46 | 5.04 | 5.50 | (0.21) | — | — | (0.21) | 29.15 | |
Class C (12/02) | ||||||||||
2021 | 25.32 | (0.03) | 14.14 | 14.11 | (0.42) | — | (0.35) | (0.77) | 38.66 | |
2020 | 30.40 | 0.42 | (5.37) | (4.95) | (0.13) | — | — | (0.13) | 25.32 | |
2019 | 29.97 | (0.02) | 0.45 | 0.43 | — | — | — | — | 30.40 | |
2018(e) | 27.46 | (0.37) | 3.19 | 2.82 | (0.31) | — | — | (0.31) | 29.97 | |
2017 | 22.49 | 0.20 | 4.80 | 5.00 | (0.03) | — | — | (0.03) | 27.46 | |
Class I (11/97) | ||||||||||
2021 | 27.37 | 0.30 | 15.30 | 15.60 | (0.78) | — | (0.35) | (1.13) | 41.84 | |
2020 | 32.83 | 0.75 | (5.75) | (5.00) | (0.46) | — | — | (0.46) | 27.37 | |
2019 | 32.03 | 0.34 | 0.46 | 0.80 | — | — | — | — | 32.83 | |
2018(e) | 29.33 | (0.11) | 3.43 | 3.32 | (0.62) | — | — | (0.62) | 32.03 | |
2017 | 24.00 | 0.49 | 5.11 | 5.60 | (0.27) | — | — | (0.27) | 29.33 |
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) | |
57.70% | $43,489 | 1.29% | 0.50% | 1.15% | 0.64% | 58% | |
(15.73) | 29,133 | 1.30 | 2.15 | 1.15 | 2.30 | 54 | |
2.23 | 42,199 | 1.26 | 0.73 | 1.15 | 0.84 | 23 | |
11.14 | 30,003 | 1.24 | (0.67) | 1.15 | (0.58) | 118 | |
23.08 | 30,955 | 1.25 | 1.64 | 1.15 | 1.74 | 46 | |
56.54 | 1,347 | 2.04 | (0.23) | 1.90 | (0.09) | 58 | |
(16.37) | 1,632 | 2.05 | 1.41 | 1.90 | 1.56 | 54 | |
1.43 | 2,672 | 2.01 | (0.17) | 1.90 | (0.06) | 23 | |
10.29 | 21,143 | 1.99 | (1.39) | 1.90 | (1.29) | 118 | |
22.17 | 23,652 | 2.00 | 0.70 | 1.90 | 0.80 | 46 | |
58.09 | 37,441 | 1.04 | 0.74 | 0.90 | 0.88 | 58 | |
(15.51) | 24,403 | 1.05 | 2.41 | 0.90 | 2.56 | 54 | |
2.50 | 38,712 | 1.01 | 0.97 | 0.90 | 1.08 | 23 | |
11.37 | 40,008 | 0.99 | (0.44) | 0.90 | (0.35) | 118 | |
23.45 | 40,694 | 1.00 | 1.74 | 0.90 | 1.84 | 46 |
(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, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
(e) | Per share Net investment income (loss) and Net Investment Income (Loss) to Average Net Assets ratios include a change in estimated return of capital recorded by the Fund during the fiscal year ended June 30, 2018. Such change in estimate occurred upon receiving the reporting of the actual character of the dividends received from the issuers of certain securities. If such change in estimate were excluded, per share Net Investment Income (Loss) and the ratios of Net Investment Income (Loss) to Average Net Assets for each share class would have been as follows: |
Per Share Net Investment Income (Loss)(a) | Ratios of Net Investment Income (Loss) to Average Net Assets Before Reimbursement | Ratios of Net Investment Income (Loss) to Average Net Assets After Reimbursement | |
Class A | $ 0.21 | 0.60% | 0.69% |
Class C | (0.01) | (0.12) | (0.03) |
Class I | 0.28 | 0.83 | 0.92 |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended June 30, | 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 (12/06) | |||||||||
2021 | $3.96 | $0.03 | $ 1.57 | $ 1.60 | $(0.15) | $(0.57) | $(0.72) | $4.84 | |
2020 | 5.15 | 0.12 | (0.62) | (0.50) | (0.09) | (0.60) | (0.69) | 3.96 | |
2019 | 6.72 | 0.07 | (0.19) | (0.12) | (0.03) | (1.42) | (1.45) | 5.15 | |
2018 | 7.88 | 0.06 | 0.61 | 0.67 | (0.17) | (1.66) | (1.83) | 6.72 | |
2017 | 7.27 | 0.07 | 1.32 | 1.39 | (0.10) | (0.68) | (0.78) | 7.88 | |
Class C (12/06) | |||||||||
2021 | 3.28 | 0.01 | 1.26 | 1.27 | (0.10) | (0.57) | (0.67) | 3.88 | |
2020 | 4.36 | 0.07 | (0.51) | (0.44) | (0.04) | (0.60) | (0.64) | 3.28 | |
2019 | 5.95 | 0.02 | (0.19) | (0.17) | — | (1.42) | (1.42) | 4.36 | |
2018 | 7.16 | 0.01 | 0.54 | 0.55 | (0.10) | (1.66) | (1.76) | 5.95 | |
2017 | 6.66 | 0.01 | 1.21 | 1.22 | (0.04) | (0.68) | (0.72) | 7.16 | |
Class I (12/06) | |||||||||
2021 | 3.98 | 0.05 | 1.57 | 1.62 | (0.16) | (0.57) | (0.73) | 4.87 | |
2020 | 5.17 | 0.13 | (0.62) | (0.49) | (0.10) | (0.60) | (0.70) | 3.98 | |
2019 | 6.75 | 0.08 | (0.19) | (0.11) | (0.05) | (1.42) | (1.47) | 5.17 | |
2018 | 7.91 | 0.08 | 0.61 | 0.69 | (0.19) | (1.66) | (1.85) | 6.75 | |
2017 | 7.29 | 0.09 | 1.33 | 1.42 | (0.12) | (0.68) | (0.80) | 7.91 |
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) | |
44.10% | $ 5,419 | 1.76% | 0.02% | 1.00% | 0.79% | 42 | |
(12.08) | 4,233 | 1.40 | 2.16 | 1.00 | 2.56 | 59 | |
1.96 | 4,395 | 1.27 | 0.99 | 1.00 | 1.26 | 35 | |
8.71 | 4,556 | 1.19 | 0.64 | 1.00 | 0.83 | 48 | |
19.64 | 6,473 | 1.18 | 0.88 | 1.18 | 0.88 | 46 | |
42.65 | 1,368 | 2.51 | (0.58) | 1.75 | 0.19 | 42 | |
(12.62) | 1,758 | 2.15 | 1.41 | 1.75 | 1.82 | 59 | |
1.21 | 2,882 | 2.02 | 0.22 | 1.75 | 0.48 | 35 | |
7.86 | 4,275 | 1.94 | (0.11) | 1.75 | 0.08 | 48 | |
18.62 | 5,652 | 1.93 | 0.13 | 1.93 | 0.13 | 46 | |
44.50 | 13,008 | 1.51 | 0.34 | 0.75 | 1.11 | 42 | |
(11.81) | 13,196 | 1.15 | 2.40 | 0.75 | 2.81 | 59 | |
2.13 | 38,538 | 1.02 | 1.20 | 0.75 | 1.46 | 35 | |
8.96 | 60,371 | 0.94 | 0.89 | 0.75 | 1.08 | 48 | |
19.85 | 74,352 | 0.93 | 1.12 | 0.93 | 1.12 | 46 |
(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, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended June 30, | 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 (12/06) | |||||||||
2021 | $20.05 | $ 0.01 | $12.13 | $12.14 | $(0.06) | $ — | $(0.06) | $32.13 | |
2020 | 23.47 | 0.11 | (3.45) | (3.34) | (0.08) | — | (0.08) | 20.05 | |
2019 | 36.02 | 0.08 | (3.94) | (3.86) | — | (8.69) | (8.69) | 23.47 | |
2018 | 33.23 | (0.08) | 4.61 | 4.53 | (0.01) | (1.73) | (1.74) | 36.02 | |
2017 | 27.78 | 0.01 | 5.44 | 5.45 | — | — | — | 33.23 | |
Class C (12/06) | |||||||||
2021 | 17.29 | (0.14) | 10.42 | 10.28 | — | — | — | 27.57 | |
2020 | 20.33 | (0.03) | (3.01) | (3.04) | — | — | — | 17.29 | |
2019 | 32.87 | (0.12) | (3.73) | (3.85) | — | (8.69) | (8.69) | 20.33 | |
2018 | 30.68 | (0.32) | 4.24 | 3.92 | — | (1.73) | (1.73) | 32.87 | |
2017 | 25.84 | (0.22) | 5.06 | 4.84 | — | — | — | 30.68 | |
Class R6 (06/16) | |||||||||
2021 | 20.64 | 0.10 | 12.49 | 12.59 | (0.17) | — | (0.17) | 33.06 | |
2020 | 24.15 | 0.21 | (3.54) | (3.33) | (0.18) | — | (0.18) | 20.64 | |
2019 | 36.62 | 0.20 | (3.98) | (3.78) | — | (8.69) | (8.69) | 24.15 | |
2018 | 33.70 | 0.06 | 4.69 | 4.75 | (0.10) | (1.73) | (1.83) | 36.62 | |
2017 | 28.05 | (0.08) | 5.73 | 5.65 | — | — | — | 33.70 | |
Class I (12/06) | |||||||||
2021 | 20.49 | 0.07 | 12.42 | 12.49 | (0.12) | — | (0.12) | 32.86 | |
2020 | 23.99 | 0.19 | (3.55) | (3.36) | (0.14) | — | (0.14) | 20.49 | |
2019 | 36.50 | 0.16 | (3.98) | (3.82) | — | (8.69) | (8.69) | 23.99 | |
2018 | 33.65 | 0.01 | 4.67 | 4.68 | (0.10) | (1.73) | (1.83) | 36.50 | |
2017 | 28.05 | 0.08 | 5.52 | 5.60 | — | — | — | 33.65 |
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) | |
60.64% | $ 3,321 | 1.64% | (0.28) % | 1.31% | 0.06% | 57 | |
(14.29) | 2,599 | 1.85 | (0.01) | 1.31 | 0.54 | 58 | |
(6.42) | 3,137 | 1.73 | (0.13) | 1.31 | 0.29 | 54 | |
13.98 | 4,512 | 1.53 | (0.46) | 1.31 | (0.24) | 49 | |
19.62 | 5,529 | 1.43 | (0.08) | 1.31 | 0.03 | 88 | |
59.46 | 538 | 2.39 | (0.99) | 2.06 | (0.65) | 57 | |
(14.95) | 763 | 2.60 | (0.73) | 2.06 | (0.19) | 58 | |
(7.13) | 1,374 | 2.48 | (0.90) | 2.06 | (0.47) | 54 | |
13.12 | 3,194 | 2.29 | (1.22) | 2.06 | (0.99) | 49 | |
18.73 | 3,078 | 2.18 | (0.87) | 2.06 | (0.74) | 88 | |
61.19 | 19,155 | 1.28 | 0.04 | 0.95 | 0.37 | 57 | |
(13.93) | 8,747 | 1.43 | 0.42 | 0.88 | 0.96 | 58 | |
(6.03) | 9,691 | 1.32 | 0.29 | 0.90 | 0.72 | 54 | |
14.44 | 9,629 | 1.13 | (0.07) | 0.89 | 0.17 | 49 | |
20.14 | 5,820 | 1.05 | (0.39) | 0.90 | (0.24) | 88 | |
61.03 | 23,554 | 1.39 | (0.07) | 1.06 | 0.26 | 57 | |
(14.07) | 8,457 | 1.60 | 0.34 | 1.06 | 0.89 | 58 | |
(6.19) | 8,874 | 1.48 | 0.13 | 1.06 | 0.55 | 54 | |
14.25 | 20,522 | 1.25 | (0.18) | 1.06 | 0.02 | 49 | |
19.96 | 44,750 | 1.18 | 0.12 | 1.06 | 0.24 | 88 |
(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, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended June 30, | 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 (12/04) | |||||||||
2021 | $33.98 | $(0.02) | $21.36 | $21.34 | $(0.26) | $ — | $(0.26) | $55.06 | |
2020 | 42.97 | 0.11 | (6.36) | (6.25) | (0.01) | (2.73) | (2.74) | 33.98 | |
2019 | 55.23 | 0.03 | (7.03) | (7.00) | — | (5.26) | (5.26) | 42.97 | |
2018 | 49.16 | (0.16) | 8.34 | 8.18 | — | (2.11) | (2.11) | 55.23 | |
2017 | 42.06 | (0.16) | 8.62 | 8.46 | — | (1.36) | (1.36) | 49.16 | |
Class C (12/04) | |||||||||
2021 | 29.57 | (0.31) | 18.58 | 18.27 | — | — | — | 47.84 | |
2020 | 37.99 | (0.16) | (5.53) | (5.69) | — | (2.73) | (2.73) | 29.57 | |
2019 | 49.96 | (0.28) | (6.43) | (6.71) | — | (5.26) | (5.26) | 37.99 | |
2018 | 44.98 | (0.50) | 7.59 | 7.09 | — | (2.11) | (2.11) | 49.96 | |
2017 | 38.87 | (0.48) | 7.95 | 7.47 | — | (1.36) | (1.36) | 44.98 | |
Class R6 (02/13) | |||||||||
2021 | 35.66 | 0.17 | 22.41 | 22.58 | (0.46) | — | (0.46) | 57.78 | |
2020 | 44.93 | 0.28 | (6.63) | (6.35) | (0.19) | (2.73) | (2.92) | 35.66 | |
2019 | 57.24 | 0.22 | (7.27) | (7.05) | — | (5.26) | (5.26) | 44.93 | |
2018 | 50.67 | 0.05 | 8.63 | 8.68 | — | (2.11) | (2.11) | 57.24 | |
2017 | 43.13 | 0.04 | 8.86 | 8.90 | — | (1.36) | (1.36) | 50.67 | |
Class I (12/04) | |||||||||
2021 | 35.21 | 0.08 | 22.15 | 22.23 | (0.36) | — | (0.36) | 57.08 | |
2020 | 44.43 | 0.20 | (6.57) | (6.37) | (0.12) | (2.73) | (2.85) | 35.21 | |
2019 | 56.75 | 0.16 | (7.22) | (7.06) | — | (5.26) | (5.26) | 44.43 | |
2018 | 50.34 | (0.03) | 8.55 | 8.52 | — | (2.11) | (2.11) | 56.75 | |
2017 | 42.93 | (0.06) | 8.83 | 8.77 | — | (1.36) | (1.36) | 50.34 |
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) | |
63.00% | $ 27,091 | 1.37% | (0.05) % | 1.36% | (0.04) % | 86 | |
(15.95) | 24,846 | 1.35 | 0.28 | 1.35 | 0.28 | 43 | |
(11.47) | 66,539 | 1.24 | 0.07 | 1.24 | 0.07 | 62 | |
16.94 | 82,161 | 1.27 | (0.31) | 1.27 | (0.31) | 67 | |
20.12 | 82,559 | 1.30 | (0.34) | 1.30 | (0.34) | 57 | |
61.79 | 8,429 | 2.12 | (0.81) | 2.11 | (0.80) | 86 | |
(16.58) | 7,644 | 2.10 | (0.49) | 2.10 | (0.49) | 43 | |
(12.14) | 13,419 | 1.99 | (0.68) | 1.99 | (0.68) | 62 | |
16.05 | 21,723 | 2.01 | (1.05) | 2.01 | (1.05) | 67 | |
19.21 | 23,251 | 2.05 | (1.10) | 2.05 | (1.10) | 57 | |
63.67 | 6,160 | 0.95 | 0.35 | 0.94 | 0.36 | 86 | |
(15.55) | 6,315 | 0.91 | 0.70 | 0.91 | 0.70 | 43 | |
(11.12) | 10,899 | 0.86 | 0.46 | 0.86 | 0.46 | 62 | |
17.41 | 11,093 | 0.85 | 0.10 | 0.85 | 0.10 | 67 | |
20.64 | 9,284 | 0.86 | 0.09 | 0.86 | 0.09 | 57 | |
63.42 | 263,394 | 1.11 | 0.15 | 1.10 | 0.16 | 86 | |
(15.75) | 154,309 | 1.10 | 0.51 | 1.10 | 0.51 | 43 | |
(11.26) | 456,623 | 0.99 | 0.33 | 0.99 | 0.33 | 62 | |
17.22 | 642,477 | 1.01 | (0.05) | 1.01 | (0.05) | 67 | |
20.43 | 590,033 | 1.05 | (0.12) | 1.05 | (0.12) | 57 |
(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, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. For the period July 1, 2017 through May 27, 2021, the Adviser did not reimburse the Fund for any fees and expenses. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
NWQ Global Equity Income | Value | % of Net Assets |
Country: | ||
Germany | $19,811,633 | 11.9% |
Japan | 12,941,230 | 7.8 |
United Kingdom | 11,563,872 | 7.0 |
South Korea | 7,851,495 | 4.7 |
China | 5,496,490 | 3.3 |
Belgium | 3,188,230 | 1.9 |
Netherlands | 3,135,494 | 1.9 |
Singapore | 2,929,467 | 1.8 |
Canada | 2,827,956 | 1.7 |
Other | 11,575,429 | 7.0 |
Total non-U.S. securities | $81,321,296 | 49.0% |
NWQ International Value | Value | % of Net Assets |
Country: | ||
Japan | $ 27,570,062 | 22.6% |
Germany | 17,681,532 | 14.5 |
United Kingdom | 12,143,939 | 10.0 |
South Korea | 10,158,900 | 8.3 |
France | 10,146,232 | 8.3 |
Netherlands | 8,535,953 | 7.0 |
Switzerland | 6,065,222 | 5.0 |
Belgium | 5,046,691 | 4.1 |
Australia | 3,973,678 | 3.3 |
Other | 14,494,805 | 12.0 |
Total non-U.S. securities | $115,817,014 | 95.1% |
NWQ Global Equity Income | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $80,329,229 | $75,623,651** | $ — | $155,952,880 |
Convertible Preferred Securities | 5,568,576 | — | — | 5,568,576 |
Structured Notes | — | 1,008,243 | — | 1,008,243 |
Total | $85,897,805 | $76,631,894 | $ — | $162,529,699 |
NWQ International Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $18,648,869 | $100,959,270** | $ — | $119,608,139 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 1,590,130 | — | 1,590,130 |
Total | $18,648,869 | $102,549,400 | $ — | $121,198,269 |
NWQ Multi-Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $80,659,317 | $ — | $ — | $80,659,317 |
Investments Purchased with Collateral from Securities Lending | 1,810,831 | — | — | 1,810,831 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 2,315,396 | — | 2,315,396 |
Total | $82,470,148 | $2,315,396 | $ — | $84,785,544 |
NWQ Large-Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $19,238,713 | $ — | $ — | $19,238,713 |
Investments Purchased with Collateral from Securities Lending | 537,863 | — | — | 537,863 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 435,758 | — | 435,758 |
Total | $19,776,576 | $435,758 | $ — | $20,212,334 |
NWQ Small/Mid-Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $44,319,545 | $ — | $ — | $44,319,545 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 2,418,772 | — | 2,418,772 |
Total | $44,319,545 | $2,418,772 | $ — | $46,738,317 |
NWQ Small-Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $296,683,249 | $ — | $ — | $296,683,249 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 8,042,069 | — | 8,042,069 |
Total | $296,683,249 | $8,042,069 | $ — | $304,725,318 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 2. |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty |
NWQ International Value | Fixed Income Clearing Corporation | $1,590,130 | $(1,621,973) |
NWQ Multi-Cap Value | Fixed Income Clearing Corporation | 2,315,396 | (2,361,709) |
NWQ Large-Cap Value | Fixed Income Clearing Corporation | 435,758 | (444,477) |
NWQ Small/Mid-Cap Value | Fixed Income Clearing Corporation | 2,418,772 | (2,467,159) |
NWQ Small-Cap Value | Fixed Income Clearing Corporation | 8,042,069 | (8,202,949) |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Total Collateral Received |
NWQ Multi-Cap Value | Common Stock | $1,769,481 | $1,810,831 |
NWQ Large-Cap Value | Common Stock | 525,543 | 537,863 |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Purchases | $62,136,857 | $28,107,890 | $37,485,570 | $ 7,771,350 | $27,880,317 | $194,470,976 |
Sales and maturities | 85,197,240 | 54,415,318 | 40,971,446 | 14,042,330 | 16,833,945 | 198,557,156 |
NWQ Global Equity Income | |
Average notional amount of outstanding options written* | $ — |
* | The average notional amount is calculated based on the outstanding notional at the beginning of the current fiscal period and at the end of each fiscal quarter within the current fiscal period. The Fund wrote call options during the current fiscal period. However the Fund did not have any such positions outstanding at the beginning of the fiscal period or at the end of each fiscal quarter within the current fiscal period and therefore are not included as part of this calculation. |
Fund | Underlying Risk Exposure | Derivative Instrument | Net Realized Gain (Loss) from Options Written | Change in Net Unrealized Appreciation (Depreciation) of Options Written |
NWQ Global Equity Income | Equity price | Options written | $52,236 | $ — |
Year Ended 6/30/21 | Year Ended 6/30/20 | ||||
NWQ Global Equity Income | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 426,771 | $ 11,630,534 | 622,088 | $ 15,874,130 | |
Class A – automatic conversion of Class C Shares | 3,861 | 104,250 | 5,470 | 145,931 | |
Class A - automatic conversion of Class R3 Shares | 19,586 | 645,359 | — | — | |
Class C | 3,336 | 97,623 | 5,049 | 123,856 | |
Class R3(1) | 3,523 | 93,253 | 3,295 | 78,065 | |
Class I | 272,707 | 7,733,453 | 348,559 | 8,830,076 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 73,787 | 2,091,541 | 87,786 | 2,061,101 | |
Class C | 5,123 | 136,127 | 14,057 | 331,546 | |
Class R3(1) | 320 | 8,479 | 525 | 12,254 | |
Class I | 46,034 | 1,304,189 | 59,328 | 1,400,240 | |
855,048 | 23,844,808 | 1,146,157 | 28,857,199 | ||
Shares redeemed: | |||||
Class A | (683,432) | (18,493,548) | (1,156,215) | (28,840,988) | |
Class C | (472,171) | (12,719,643) | (816,149) | (20,603,778) | |
Class C – automatic conversion to Class A Shares | (3,872) | (104,250) | (5,485) | (145,931) | |
Class R3(1) | (9,126) | (243,570) | (19,185) | (488,912) | |
Class R3 – automatic conversion to Class A Shares | (19,628) | (645,359) | — | — | |
Class I | (457,297) | (12,668,505) | (906,880) | (22,320,910) | |
(1,645,526) | (44,874,875) | (2,903,914) | (72,400,519) | ||
Net increase (decrease) | (790,478) | $(21,030,067) | (1,757,757) | $(43,543,320) |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Year Ended 6/30/21 | Year Ended 6/30/20 | ||||
NWQ International Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 121,453 | $ 2,958,668 | 144,734 | $ 3,155,152 | |
Class A - automatic conversion of Class R3 Shares | 17,870 | 511,446 | — | — | |
Class C | 2,668 | 63,807 | 4,492 | 97,867 | |
Class R3(1) | 10,274 | 246,062 | 16,427 | 357,832 | |
Class I | 316,193 | 7,441,675 | 838,110 | 17,489,532 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 13,689 | 337,720 | 24,604 | 593,941 | |
Class C | 354 | 8,350 | 1,456 | 33,566 | |
Class R3(1) | 276 | 6,867 | 722 | 17,576 | |
Class I | 85,687 | 2,122,462 | 228,746 | 5,540,231 | |
568,464 | 13,697,057 | 1,259,291 | 27,285,697 | ||
Shares redeemed: | |||||
Class A | (225,773) | (5,406,566) | (284,696) | (6,207,432) | |
Class C | (39,315) | (874,935) | (92,950) | (1,978,088) | |
Class R3(1) | (27,659) | (617,580) | (35,273) | (765,049) | |
Class R3 – automatic conversion to Class A Shares | (17,752) | (511,446) | — | — | |
Class I | (1,367,262) | (33,380,351) | (5,827,938) | (130,342,457) | |
(1,677,761) | (40,790,878) | (6,240,857) | (139,293,026) | ||
Net increase (decrease) | (1,109,297) | $(27,093,821) | (4,981,566) | $(112,007,329) |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Year Ended 6/30/21 | Year Ended 6/30/20 | ||||
NWQ Multi-Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 154,916 | $ 5,818,601 | 27,163 | $ 831,217 | |
Class C | 9,071 | 343,717 | 9,896 | 294,603 | |
Class R3(1) | — | — | 18 | 589 | |
Class I | 188,713 | 7,380,557 | 94,046 | 2,728,559 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 28,287 | 924,684 | 11,379 | 386,309 | |
Class C | 927 | 28,371 | 270 | 8,599 | |
Class R3(1) | — | — | — | — | |
Class I | 26,265 | 865,450 | 14,127 | 483,275 | |
408,179 | 15,361,380 | 156,899 | 4,733,151 | ||
Shares redeemed: | |||||
Class A | (208,004) | (7,334,660) | (261,055) | (7,900,748) | |
Class C | (39,589) | (1,174,798) | (33,617) | (949,685) | |
Class R3(1) | — | — | (2,716) | (87,803) | |
Class I | (211,628) | (7,324,511) | (395,603) | (11,417,365) | |
(459,221) | (15,833,969) | (692,991) | (20,355,601) | ||
Net increase (decrease) | (51,042) | $ (472,589) | (536,092) | $(15,622,450) |
(1) | Effective August 5, 2019, Class R3 Shares of NWQ Multi-Cap Value are no long being offered for sale. |
Year Ended 6/30/21 | Year Ended 6/30/20 | ||||
NWQ Large-Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 322,659 | $ 1,449,170 | 354,482 | $ 1,507,248 | |
Class C | 8,152 | 29,397 | 51,999 | 222,083 | |
Class I | 244,980 | 1,108,767 | 966,472 | 4,118,122 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 128,929 | 534,102 | 115,189 | 559,866 | |
Class C | 98,694 | 328,974 | 94,967 | 380,680 | |
Class R3(1) | 3,168 | 12,889 | 2,211 | 10,558 | |
Class I | 475,865 | 1,984,532 | 915,103 | 4,472,648 | |
1,282,447 | 5,447,831 | 2,500,423 | 11,271,205 | ||
Shares redeemed: | |||||
Class A | (400,159) | (1,736,597) | (254,333) | (1,178,132) | |
Class C | (291,381) | (1,048,353) | (271,314) | (1,012,392) | |
Class R3(1) | (20,859) | (102,627) | (3) | (13) | |
Class I | (1,360,658) | (5,901,791) | (6,018,921) | (25,610,392) | |
(2,073,057) | (8,789,368) | (6,544,571) | (27,800,929) | ||
Net increase (decrease) | (790,610) | $(3,341,537) | (4,044,148) | $(16,529,724) |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Year Ended 6/30/21 | Year Ended 6/30/20 | ||||
NWQ Small/Mid-Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 24,847 | $ 656,651 | 25,443 | $ 540,705 | |
Class A - automatic conversion of Class R3 Shares | 4,901 | 159,866 | — | — | |
Class C | 1,778 | 41,304 | 4,020 | 81,806 | |
Class R3(1) | 85 | 1,704 | 1,977 | 45,279 | |
Class R6 | 369,861 | 10,847,937 | 168,348 | 3,814,627 | |
Class I | 446,815 | 12,332,211 | 414,155 | 9,320,704 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 203 | 5,122 | 343 | 8,662 | |
Class R3(1) | 3 | 70 | 14 | 334 | |
Class R6 | 2,557 | 66,454 | 2,861 | 74,018 | |
Class I | 2,541 | 65,685 | 2,120 | 54,515 | |
853,591 | 24,177,004 | 619,281 | 13,940,650 | ||
Shares redeemed: | |||||
Class A | (56,242) | (1,289,387) | (29,770) | (645,695) | |
Class C | (26,360) | (555,748) | (27,507) | (536,103) | |
Class R3(1) | (10,876) | (248,890) | (10,230) | (226,901) | |
Class R3 – automatic conversion to Class A Shares | (5,140) | (159,866) | — | — | |
Class R6 | (216,832) | (5,761,009) | (148,637) | (3,366,219) | |
Class I | (145,169) | (4,081,875) | (373,549) | (9,004,965) | |
(460,619) | (12,096,775) | (589,693) | (13,779,883) | ||
Net increase (decrease) | 392,972 | $ 12,080,229 | 29,588 | $ 160,767 |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Year Ended 6/30/21 | Year Ended 6/30/20 | ||||
NWQ Small-Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 59,621 | $ 2,636,709 | 175,052 | $ 6,835,666 | |
Class A - automatic conversion of Class R3 Shares | 49,351 | 2,749,338 | — | — | |
Class C | 12,698 | 495,727 | 31,930 | 1,181,204 | |
Class R3(1) | 14,228 | 652,815 | 20,998 | 776,149 | |
Class R6 | 25,165 | 1,096,983 | 368,855 | 17,044,216 | |
Class I | 1,416,183 | 72,154,508 | 1,791,421 | 71,325,938 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 2,576 | 112,232 | 48,977 | 2,133,928 | |
Class C | — | — | 18,820 | 716,456 | |
Class R3(1) | 145 | 6,160 | 2,499 | 106,326 | |
Class R6 | 726 | 33,137 | 22,059 | 1,010,576 | |
Class I | 32,061 | 1,446,616 | 513,460 | 23,213,073 | |
1,612,754 | 81,384,225 | 2,994,071 | 124,343,532 | ||
Shares redeemed: | |||||
Class A | (350,791) | (14,493,897) | (1,041,299) | (43,111,310) | |
Class C | (95,036) | (3,484,220) | (145,455) | (4,977,208) | |
Class R3(1) | (27,258) | (1,148,976) | (74,868) | (2,932,323) | |
Class R3 – automatic conversion to Class A Shares | (50,623) | (2,749,338) | — | — | |
Class R6 | (96,399) | (4,080,699) | (456,369) | (20,266,869) | |
Class I | (1,215,868) | (54,483,520) | (8,199,620) | (319,510,838) | |
(1,835,975) | (80,440,650) | (9,917,611) | (390,798,548) | ||
Net increase (decrease) | (223,221) | $ 943,575 | (6,923,540) | $(266,455,016) |
(1) | Class R3 shares were converted to Class A shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Tax cost of investments | $117,954,512 | $84,293,639 | $66,318,358 | $14,435,093 | $36,754,661 | $238,272,940 |
Gross unrealized: | ||||||
Appreciation | $ 46,833,627 | $43,569,416 | $19,473,876 | $ 6,056,754 | $10,560,109 | $ 72,978,307 |
Depreciation | (2,258,440) | (6,664,786) | (1,006,690) | (279,513) | (576,453) | (6,525,929) |
Net unrealized appreciation (depreciation) of investments | $ 44,575,187 | $36,904,630 | $18,467,186 | $ 5,777,241 | $ 9,983,656 | $ 66,452,378 |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Undistributed net ordinary income1, 2 | $3,657,328 | $4,277,531 | $ — | $ 691,049 | $ 813,565 | $ 136,318 |
Undistributed net long-term capital gains | — | — | — | 2,028,835 | 3,377,796 | 19,633,514 |
1 | Undistributed net ordinary income (on a tax basis) for NWQ Global Equity Income has not been reduced for the dividend declared on June 30, 2021 and paid on July 1, 2021. |
2 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
2021 | NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value |
Distributions from net ordinary income2 | $3,747,275 | $2,540,326 | $1,318,712 | $ 942,137 | $138,581 | $1,675,362 |
Distributions from net long-term capital gains | — | — | — | 2,036,786 | — | — |
Return of capital | — | — | 675,882 | — | — | — |
2020 | NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value |
Distributions from net ordinary income2 | $4,042,739 | $6,312,884 | $955,395 | $ 798,565 | $140,505 | $ 1,108,095 |
Distributions from net long-term capital gains | — | — | — | 4,697,127 | — | 27,502,166 |
Return of capital | — | — | — | — | — | — |
2 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
NWQ Global Equity Income3 | NWQ International Value | NWQ Multi-Cap Value | |
Not subject to expiration: | |||
Short-term | $ 4,712,866 | $ 7,143,330 | $ 479,658 |
Long-term | 240,806,661 | 200,841,911 | 6,915,034 |
Total | $245,519,527 | $207,985,241 | $7,394,692 |
3 | NWQ Global Equity Income's capital loss carryforward is subject to significant limitations under the Internal Revenue Code and related regulations. In particular, it is expected that the Fund will only be able to annually utilize approximately $4 million of its outstanding capital loss carryforward for the next seventeen years, at which point the annual limitation will further be reduced to approximately $1.2 million. |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Utilized capital loss carryforwards | $12,237,763 | $9,875,889 | $7,353,940 | $1,012,611 | $36,718,021 |
Average Daily Net Assets | NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value |
For the first $125 million | 0.5500% | 0.5500% | 0.5500% | 0.5000% | 0.6000% | 0.6500% |
For the next $125 million | 0.5375 | 0.5375 | 0.5375 | 0.4875 | 0.5875 | 0.6375 |
For the next $250 million | 0.5250 | 0.5250 | 0.5250 | 0.4750 | 0.5750 | 0.6250 |
For the next $500 million | 0.5125 | 0.5125 | 0.5125 | 0.4625 | 0.5625 | 0.6125 |
For the next $1 billion | 0.5000 | 0.5000 | 0.5000 | 0.4500 | 0.5500 | 0.6000 |
For the next $3 billion | 0.4750 | 0.4750 | 0.4750 | 0.4250 | 0.5250 | 0.5750 |
For the next $2.5 billion | 0.4500 | 0.4500 | 0.4500 | 0.4000 | 0.5000 | 0.5500 |
For the next $2.5 billion | 0.4375 | 0.4375 | 0.4375 | 0.3875 | 0.4875 | 0.5375 |
For net assets over $10 billion | 0.4250 | 0.4250 | 0.4250 | 0.3750 | 0.4750 | 0.5250 |
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 | Temporary Expense Cap | Temporary Expense Cap Expiration Date | Permanent Expense Cap |
NWQ Global Equity Income | 0.90% | July 31, 2023 | N/A |
NWQ International Value | 0.94 | July 31, 2023 | N/A |
NWQ Multi-Cap Value | 0.94 | July 31, 2023 | N/A |
NWQ Large-Cap Value | 0.79 | July 31, 2023 | 1.35% |
NWQ Small/Mid-Cap Value | 1.10 | July 31, 2023 | 1.45 |
NWQ Small-Cap Value | 0.99* | July 31, 2023 | N/A |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Sales charges collected (Unaudited) | $4,532 | $1,503 | $4,918 | $7,956 | $2,175 | $6,790 |
Paid to financial intermediaries (Unaudited) | 4,004 | 1,312 | 4,481 | 6,883 | 1,956 | 5,987 |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Commission advances (Unaudited) | $303 | $105 | $3,236 | $320 | $617 | $4,200 |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
12b-1 fees retained (Unaudited) | $(1,282) | $1,138 | $1,355 | $1,140 | $1,300 | $10,801 |
NWQ Global Equity Income | NWQ International Value | NWQ Multi-Cap Value | NWQ Large-Cap Value | NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
CDSC retained (Unaudited) | $5 | $ — | $15 | $ — | $ — | $296 |
NWQ Small/Mid-Cap Value | NWQ Small-Cap Value | |
Nuveen owned shares | —%* | —%* |
* | Rounds to less than 1%. |
NWQ International Value | NWQ Multi-Cap Value | |
Maximum outstanding balance | $620,002 | $331,341 |
NWQ International Value | NWQ Multi-Cap Value | |
Utilization period (days outstanding) | 4 | 4 |
Average daily balance outstanding | $620,002 | $331,341 |
Average annual interest rate | 1.39% | 1.39% |
• | Nuveen NWQ Global Equity Income Fund to Nuveen Global Equity Income Fund |
• | Nuveen NWQ International Value Fund to Nuveen International Value Fund |
• | Nuveen NWQ Multi-Cap Value Fund to Nuveen Multi Cap Value Fund |
• | Nuveen NWQ Large-Cap Value Fund to Nuveen Large Cap Value Fund |
• | Nuveen NWQ Small/Mid-Cap Value Fund to Nuveen Small/Mid Cap Value Fund |
• | Nuveen NWQ Small-Cap Value Fund to Nuveen Small Cap Value Opportunities Fund |
NWQ Large-Cap Value | NWQ Small-Cap Value | |
Long-Term Capital Gain Dividends | $2,476,227 | $728,115 |
% of DRD | % of QDI | |
Nuveen NWQ Global Equity Income Fund | 49.1% | 100.0% |
Nuveen NWQ International Value Fund | 0.0% | 100.0% |
Nuveen NWQ Multi-Cap Value Fund | 80.5% | 89.8% |
Nuveen NWQ Large-Cap Value Fund | 92.8% | 100.0% |
Nuveen NWQ Small/Mid-Cap Value Fund | 100.0% | 100.0% |
Nuveen NWQ Small-Cap Value Fund | 100.0% | 100.0% |
• | Centralization of Functions – ongoing initiatives to centralize investment leadership, market approach and shared support functions within Nuveen and its affiliates in seeking to operate more effectively the business and enhance the services to the Nuveen funds; |
• | Fund Improvements and Product Management Initiatives – continuing to proactively manage the Nuveen fund complex as a whole and at the individual fund level with an aim to continually improve product platforms and investment strategies to better serve shareholders through, among other things, rationalizing the product line and gaining efficiencies through mergers, repositionings and liquidations; launching new funds; reviewing and updating investment policies and benchmarks; and modifying portfolio management teams for various funds; |
• | Investment Team Integrations – continuing to integrate and adjust the members of certain investment teams, in part, to allow greater access to tools and resources within the Nuveen organization and its affiliates; |
• | Capital Initiatives – continuing to invest capital to support new Nuveen funds with initial capital as well as to support existing funds and facilitate regulatory or logistical changes; |
• | Liquidity Management – continuing to operate the liquidity management program of the applicable Nuveen funds including monitoring daily their liquidity profile and assessing annually the overall liquidity risk of such funds; |
• | Compliance Program Initiatives – continuing efforts to mitigate compliance risk, increase operating efficiencies, implement enhancements to strengthen key compliance program elements and support international business growth and other corporate objectives; |
• | Investment Oversight – preparing reports to the Board addressing, among other things, fund performance; market conditions; investment teams; new products; changes to mandates, policies and benchmarks; and other management proposals; |
• | Risk Management and Valuation Services - continuing to oversee and manage risk including, among other things, conducting daily calculations and monitoring of risk measures across the Nuveen funds, instituting appropriate investment risk controls, providing risk reporting throughout the firm, participating in internal oversight committees, and continuing to implement an operational risk framework that seeks to provide greater transparency of operational risk matters across the complex as well as provide multiple other risk programs that seek to provide a more disciplined and consistent approach to identifying and mitigating Nuveen’s operational risks. Further, the securities valuation team continues, among other things, to oversee the daily valuation process of the portfolio securities of the funds, maintains the valuation policies and procedures, facilitates valuation committee meetings, manages relationships with pricing vendors, and prepares relevant valuation reports and designs methods to simplify and enhance valuation workflow within the organization; |
• | Regulatory Matters – continuing efforts to monitor regulatory trends and advocate on behalf of Nuveen and/or the Nuveen funds, to implement and comply with new or revised rules and mandates and to respond to regulatory inquiries and exams; |
• | Government Relations – continuing efforts of various Nuveen teams and Nuveen’s affiliates to develop policy positions on a broad range of issues that may impact the Nuveen funds, advocate and communicate these positions to lawmakers and other regulatory authorities and work with trade associations to ensure these positions are represented; |
• | Business Continuity, Disaster Recovery and Information Security – continuing efforts of Nuveen to periodically test and update business continuity and disaster recovery plans and, together with its affiliates, to maintain an information security program designed to identify and manage information security risks, and provide reports to the Board, at least annually, addressing, among other things, management’s security risk assessment, cyber risk profile, potential impact of new or revised laws and regulations, incident tracking and other relevant information technology risk-related reports; and |
• | Dividend Management Services – continuing to manage the dividends among the varying types of Nuveen funds within the Nuveen complex to be consistent with the respective fund’s product design and positioning in striving to deliver those earnings to shareholders in a relatively consistent manner over time as well as assisting in the development of new products or the restructuring of existing funds. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Independent Trustees: | ||||
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606 | Chair and Trustee | 2008 | Formerly, a Co-Founding Partner, Promus Capital (investment advisory firm) (2008-2017); Director, Quality Control Corporation (manufacturing) (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (philanthropy) (since 2012), and chair of its investment committee; formerly, Director, Fulcrum IT Services LLC (information technology services firm to government entities) (2010-2019); formerly, Director, LogicMark LLC (health services) (2012-2016); formerly, Director, Legal & General Investment Management America, Inc. (asset management) (2008-2013); formerly, CEO and President, Northern Trust Global Investments (financial services) (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (financial services) (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003- 2007) and Northern Trust Hong Kong Board (1997-2004). | 143 |
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1999 | Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine Foundation, (private philanthropic corporation); Life Trustee of Coe College and the Iowa College Foundation; formerly, Member and President Pro-Tem of the Board of Regents for the State of Iowa University System (2007- 2013); Director and Chairman (2009-2021), United Fire Group, a publicly held company; Director, Public Member, American Board of Orthopaedic Surgery (2015-2020); Director (2000-2004), Alliant Energy; Director (1996-2015), The Gazette Company (media and publishing); Director (1997- 2003), Federal Reserve Bank of Chicago; President and Chief Operating Officer (1972-1995), SCI Financial Group, Inc., (regional financial services firm). | 143 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2003 | Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010- 2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University. | 143 |
Amy B. R. Lancellotta 1959 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Independent Directors Council (IDC) (supports the fund independent director community and is part of the Investment Company Institute (ICI), which represents regulated investment companies) (2006-2019); formerly, various positions with ICI (1989-2006); Member of the Board of Directors, Jewish Coalition Against Domestic Abuse (JCADA) (since 2020). | 143 |
Joanne T. Medero 1954 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Government Relations and Public Policy (2009-2020) and Senior Advisor to the Vice Chairman (2018-2020), BlackRock, Inc. (global investment management firm); formerly, Managing Director, Global Head of Government Relations and Public Policy, Barclays Group (IBIM) (investment banking, investment management and wealth management businesses)(2006-2009); formerly, Managing Director, Global General Counsel and Corporate Secretary, Barclays Global Investors (global investment management firm) (1996-2006); formerly, Partner, Orrick, Herrington & Sutcliffe LLP (law firm) (1993-1995); formerly, General Counsel, Commodity Futures Trading Commission (government agency overseeing U.S. derivatives markets) (1989-1993); formerly, Deputy Associate Director/Associate Director for Legal and Financial Affairs, Office of Presidential Personnel, The White House (1986-1989); Member of the Board of Directors, Baltic-American Freedom Foundation (seeks to provide opportunities for citizens of the Baltic states to gain education and professional development through exchanges in the U.S.) (since 2019). | 143 |
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc. (consumer wireless services), including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996) including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics). | 143 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2013 | Member of Board of Directors of Core12 LLC. (private firm which develops branding, marketing and communications strategies for clients) (since 2008); served The President's Council of Fordham University (2010-2019) and previously a Director of the Curran Center for Catholic American Studies (2009-2018); formerly, senior external advisor to the Financial Services practice of Deloitte Consulting LLP. (2012-2014); former Chair of the Board of Trustees of Marian University (2010-2014 as trustee, 2011-2014 as Chair); formerly Chief Executive Officer of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division (2007-2008), with various executive leadership roles in ABN AMRO Bank N.V. between 1996 and 2007. | 143 |
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1997 | Board Member, Land Trust Alliance (national public charity addressing natural land and water conservation in the U.S.) (since 2013); formerly, Board Member, U.S. Endowment for Forestry and Communities (national endowment addressing forest health, sustainable forest production and markets, and economic health of forest-reliant communities in the U.S.) (2013-2019); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation (private foundation endowed to support both natural land conservation and artistic vitality); prior thereto, Executive Director, Great Lakes Protection Fund (endowment created jointly by seven of the eight Great Lakes states' Governors to take a regional approach to improving the health of the Great Lakes) (1990-1994). | 143 |
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2007 | Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); formerly, Director, Cboe Global Markets, Inc., (2010-2020) (formerly named CBOE Holdings, Inc.); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010). | 143 |
Matthew Thornton III 1958 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2020 | Formerly, Executive Vice President and Chief Operating Officer (2018-2019), FedEx Freight Corporation, a subsidiary of FedEx Corporation ("FedEx") (provider of transportation, e-commerce and business services through its portfolio of companies); formerly, Senior Vice President, U.S. Operations (2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly Member of the Board of Directors (2012-2018), Safe Kids Worldwide® (a non-profit organization dedicated to preventing childhood injuries). Member of the Board of Directors (since 2014), The Sherwin-Williams Company (develops, manufactures, distributes and sells paints, coatings and related products); Director (since 2020), Crown Castle International (provider of communications infrastructure). | 143 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (legal services, Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College. | 143 |
Robert L. Young 1963 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2017 | Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (financial services) (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (financial services) (formerly, One Group Dealer Services, Inc.) (1999-2017). | 143 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Officers of the Funds: | ||||
Christopher E. Stickrod 1976 333 W. Wacker Drive Chicago, IL 60606 | Chief Administrative Officer | 2020 | Senior Managing Director (since 2017) and Head of Advisory Product (since 2020), formerly, Managing Director (2016-2017) and Senior Vice President (2013-2016) of Nuveen; Senior Managing Director of Nuveen Securities, LLC (since 2018) and of Nuveen Fund Advisors, LLC (since 2019). | |
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402 | Vice President and Secretary | 2013 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2018). | |
Diana R. Gonzalez 1978 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2017 | Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management, LLC (2012-2017). | |
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Treasurer | 2016 | Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Managing Director (since 2015) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst. | |
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2002 | Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC. | |
Brian J. Lockhart 1974 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2019 | Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Vice President (2010-2017) of Nuveen; Head of Investment Oversight (since 2017), formerly, Team Leader of Manager Oversight (2015-2017); Chartered Financial Analyst and Certified Financial Risk Manager. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Jacques M. Longerstaey 1963 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President | 2019 | Senior Managing Director, Chief Risk Officer, Nuveen (since May 2019); Senior Managing Director (since May 2019) of Nuveen Fund Advisors, LLC; formerly, Chief Investment and Model Risk Officer, Wealth & Investment Management Division, Wells Fargo Bank (NA) (2013-2019). | |
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2007 | Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Fund Advisors, LLC, formerly, Co-General Counsel (2011-2020), Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) of Nuveen Asset Management, LLC, formerly, Associate General Counsel (2011-2020), Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC. | |
Jon Scott Meissner 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Assistant Secretary | 2019 | Managing Director of Mutual Fund Tax and Financial Reporting groups at Nuveen (since 2017); Managing Director of Nuveen Fund Advisors, LLC (since 2019); Senior Director of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC (since 2016); Senior Director (since 2015) Mutual Fund Taxation to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the CREF Accounts; has held various positions with TIAA since 2004. | |
Deann D. Morgan 1969 730 Third Avenue New York, NY 10017 | Vice President | 2020 | President, Nuveen Fund Advisors, LLC (since 2020); Executive Vice President, Global Head of Product at Nuveen (since 2019); Co-Chief Executive Officer of Nuveen Securities, LLC (since 2020); Managing Member of MDR Collaboratory LLC (since 2018); Managing Director, Head of Wealth Management Product Structuring & COO Multi Asset Investing. The Blackstone Group (2013-2017). | |
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Managing Director and Assistant Secretary (since 2017) of Nuveen Securities, LLC; Managing Director (since 2017), General Counsel (since 2020), and Assistant Secretary (since 2016), formerly, Senior Vice President (2016-2017), of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Managing Director (since 2017) and Associate General Counsel (since 2016), formerly, Senior Vice President (2012-2017) and Assistant General Counsel (2008-2016) of Nuveen. | |
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2017 | Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen. | |
E. Scott Wickerham 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Controller | 2019 | Senior Managing Director, Head of Public Investment Finance at Nuveen (since 2019), formerly, Managing Director; Senior Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) of the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and Principal Financial Officer, Principal Accounting Officer (since 2020) and Treasurer (since 2017) of the CREF Accounts; formerly, Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various positions with TIAA since 2006. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Mark L. Winget 1968 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2008), and Nuveen Fund Advisors, LLC (since 2019); Vice President, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Vice President (since 2010) and Associate General Counsel (since 2019), formerly, Assistant General Counsel (2008-2016) of Nuveen. | |
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Chief Compliance Officer | 1988 | Formerly: Managing Director (2002-2020) and Assistant Secretary (2002-2020) of Nuveen Securities, LLC; formerly, Managing Director (2002-2020), Assistant Secretary (1997-2020) and Co-General Counsel (2011-2020) of Nuveen Fund Advisors, LLC; formerly, Managing Director (2004-2020) and Assistant Secretary (1994-2020) of Nuveen Investments, Inc.; formerly, Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (2011-2020); formerly, Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (2002-2020), Santa Barbara Asset Management, LLC (2006-2020) and Winslow Capital Management, LLC (2010-2020); Chartered Financial Analyst. |
Serving Investors for Generations
ITEM 2. | CODE OF ETHICS. |
As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/fund-governance. (To view the code, click on Code of Conduct.)
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant’s audit committee financial experts are Carole E. Stone, Jack B. Evans, William C. Hunter and Albin F. Moschner, who are “independent” for purposes of Item 3 of Form N-CSR.
Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State’s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State’s bond-related disclosure documents and certifying that they fairly presented the State’s financial position; reviewing audits of various State and local agencies and programs; and coordinating the State’s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone’s position on the boards of these entities and as a member of both CBOE Holdings’ Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.
Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser (“SCI”). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the “CFO”) and actively supervised the CFO’s preparation of financial statements and other filings with various regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI’s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.
Mr. Hunter was formerly a Senior Vice President at the Federal Reserve Bank of Chicago. As part of his role as Senior Vice President, Mr. Hunter was the senior officer responsible for all operations of each of the Economic Research, Statistics, and Community and Consumer Affairs units at the Federal Reserve Bank of Chicago. In such capacity, Mr. Hunter oversaw the subunits of the Statistics and Community and Consumer Affairs divisions responsible for the analysis and evaluation of bank and bank holding company financial statements and financial filings. Prior to serving as Senior Vice President at the Federal Reserve Bank of Chicago, Mr. Hunter was the Vice President of the Financial Markets unit at the Federal Reserve Bank of Atlanta where he supervised financial staff and bank holding company analysts who analyzed and evaluated bank and bank holding company financial statements. Mr. Hunter also currently serves on the Boards of Directors of Xerox Corporation and Wellmark, Inc. as well as on the Audit Committees of such Boards. As an Audit Committee member, Mr. Hunter’s responsibilities include, among other things, reviewing financial statements, internal audits and internal controls over financial reporting. Mr. Hunter also formerly was a Professor of Finance at the University of Connecticut School of Business and has authored numerous scholarly articles on the topics of finance, accounting and economics.
Mr. Moschner, Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc., (consumer wireless services) including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996), including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics).
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
The following tables show the amount of fees that PriceWaterHouseCoopers LLP, the Funds’ auditor, billed to the Funds’ during the Funds’ last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PriceWaterHouseCoopers LLP, provided to the Funds, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the “pre-approval exception”). The preapproval exception for services provided directly to the Funds waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Funds during the fiscal year in which the services are provided; (B) the Funds did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the audit is completed.
The Audit Committee has delegated certain pre-approval responsibilities to its Chair (or, in her absence, any other member of the Audit Committee).
Fiscal Year Ended June 30, 2021 | Audit Fees Billed to Funds 1 | Audit-Related Fees Billed to Funds 2 | Tax Fees Billed to Funds 3 | All Other Fees Billed to Funds 4 | ||||||||||||
Fund Name | ||||||||||||||||
Nuveen NWQ Global Equity Income Fund | 30,875 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Multi-Cap Value Fund | 15,265 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Small-Cap Value Fund | 15,840 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Large-Cap Value Fund | 15,105 | 0 | 2,500 | 0 | ||||||||||||
Nuveen NWQ Small/Mid-Cap Value Fund | 15,150 | 0 | 0 | 0 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 92,235 | $ | 0 | $ | 2,500 | $ | 0 |
1 | “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements. |
2 | “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage. |
3 | “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant. |
4 | “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage. |
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||||||
Audit Fees Billed | Audit-Related Fees | Tax Fees | All Other Fees | |||||||||||||
to Funds | Billed to Funds | Billed to Funds | Billed to Funds | |||||||||||||
Fund Name | ||||||||||||||||
Nuveen NWQ Global Equity Income Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Multi-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Small-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Large-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Small/Mid-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Audit Fees Billed | Audit-Related Fees | Tax Fees | All Other Fees | |||||||||||||
June 30, 2020 | to Funds 1 | Billed to Funds 2 | Billed to Funds 3 | Billed to Funds 4 | ||||||||||||
Fund Name | ||||||||||||||||
Nuveen NWQ Global Equity Income Fund | 30,295 | 0 | 16,325 | 0 | ||||||||||||
Nuveen NWQ Multi-Cap Value Fund | 14,920 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Small-Cap Value Fund | 15,845 | 0 | 5,000 | 0 | ||||||||||||
Nuveen NWQ Large-Cap Value Fund | 14,805 | 0 | 5,000 | 0 | ||||||||||||
Nuveen NWQ Small/Mid-Cap Value Fund | 14,755 | 0 | 0 | 0 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 90,620 | $ | 0 | $ | 26,325 | $ | 0 |
1 | “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements. |
2 | “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage. |
3 | “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant. |
4 | “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage. |
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||||||
Audit Fees Billed | Audit-Related Fees | Tax Fees | All Other Fees | |||||||||||||
to Funds | Billed to Funds | Billed to Funds | Billed to Funds | |||||||||||||
Fund Name | ||||||||||||||||
Nuveen NWQ Global Equity Income Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Multi-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Small-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Large-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen NWQ Small/Mid-Cap Value Fund | 0 | % | 0 | % | 0 | % | 0 | % |
Fiscal Year Ended June 30, 2021 | Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | |||||||||
Nuveen MultiState Trust I | $ | 0 | $ | 0 | $ | 0 | ||||||
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||
Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | ||||||||||
0 | % | 0 | % | 0 | % | |||||||
Fiscal Year Ended June 30, 2020 | Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | |||||||||
Nuveen MultiState Trust I | $ | 0 | $ | 0 | $ | 0 | ||||||
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||
Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | ||||||||||
0 | % | 0 | % | 0 | % |
Fiscal Year Ended June 30, 2021 | Total Non-Audit Fees Billed to Trust | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) | Total | ||||||||||||
Fund Name | ||||||||||||||||
Nuveen NWQ Global Equity Income Fund | 0 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Multi-Cap Value Fund | 0 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Small-Cap Value Fund | 0 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Large-Cap Value Fund | 2,500 | 0 | 0 | 2,500 | ||||||||||||
Nuveen NWQ Small/Mid-Cap Value Fund | 0 | 0 | 0 | 0 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 2,500 | $ | 0 | $ | 0 | $ | 2,500 |
“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.
Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
Fiscal Year Ended June 30, 2020 | Total Non-Audit Fees Billed to Trust | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) | Total | ||||||||||||
Fund Name | ||||||||||||||||
Nuveen NWQ Global Equity Income Fund | 16,325 | 0 | 0 | 16,325 | ||||||||||||
Nuveen NWQ Multi-Cap Value Fund | 0 | 0 | 0 | 0 | ||||||||||||
Nuveen NWQ Small-Cap Value Fund | 5,000 | 0 | 0 | 5,000 | ||||||||||||
Nuveen NWQ Large-Cap Value Fund | 5,000 | 0 | 0 | 5,000 | ||||||||||||
Nuveen NWQ Small/Mid-Cap Value Fund | 0 | 0 | 0 | 0 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 26,325 | $ | 0 | $ | 0 | $ | 26,325 |
“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.
Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Funds by the Funds’ independent accountant and (ii) all audit and non-audit services to be performed by the Funds’ independent accountant for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Funds. Regarding tax and research projects conducted by the independent accountant for the Funds and Affiliated Fund Service Providers (with respect to operations and financial reports of the Trust), such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee Chair for her verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.
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 of Trustees 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 Rule 30a-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 Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-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 Rule 30a-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.
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/ Mark J. Czarniecki | |
Mark J. Czarniecki | ||
Vice President and Secretary |
Date: September 2, 2021
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/ Christopher E. Stickrod | |
Christopher E. Stickrod | ||
Chief Administrative Officer | ||
(principal executive officer) |
Date: September 2, 2021
By (Signature and Title) | /s/ E. Scott Wickerham | |
E. Scott Wickerham | ||
Vice President and Controller | ||
(principal financial officer) |
Date: September 2, 2021