Nuveen Santa Barbara Dividend Growth Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.8% | ||||||
COMMON STOCKS – 98.8% | ||||||
Aerospace & Defense – 2.3% | ||||||
387,727 | Lockheed Martin Corp | $147,553,387 | ||||
Banks – 2.8% | ||||||
1,172,119 | JPMorgan Chase & Co | 180,283,623 | ||||
Beverages – 2.0% | ||||||
895,352 | PepsiCo Inc | 129,073,944 | ||||
Biotechnology – 2.5% | ||||||
1,420,831 | AbbVie Inc | 158,422,657 | ||||
Building Products – 2.2% | ||||||
813,135 | Trane Technologies PLC | 141,347,257 | ||||
Capital Markets – 3.7% | ||||||
2,192,464 | Charles Schwab Corp | 154,349,466 | ||||
396,657 | CME Group Inc | 80,120,747 | ||||
Total Capital Markets | 234,470,213 | |||||
Chemicals – 4.8% | ||||||
974,430 | International Flavors & Fragrances Inc | 138,534,713 | ||||
595,623 | Linde PLC | 170,252,878 | ||||
Total Chemicals | 308,787,591 | |||||
Communications Equipment – 5.5% | ||||||
3,828,836 | Cisco Systems Inc | 194,926,041 | ||||
839,227 | Motorola Solutions Inc | 158,026,444 | ||||
Total Communications Equipment | 352,952,485 | |||||
Consumer Finance – 2.3% | ||||||
968,051 | American Express Co | 148,450,621 | ||||
Containers & Packaging – 1.4% | ||||||
623,686 | Packaging Corp of America | 92,087,238 | ||||
Diversified Telecommunication Services – 1.9% | ||||||
3,962,767 | AT&T Inc | 124,470,511 | ||||
Electric Utilities – 2.6% | ||||||
2,132,517 | NextEra Energy Inc | 165,291,393 |
1
Nuveen Santa Barbara Dividend Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Equity Real Estate Investment Trust – 3.0% | ||||||
1,590,461 | CyrusOne Inc | $115,833,275 | ||||
1,689,946 | Duke Realty Corp | 78,616,288 | ||||
Total Equity Real Estate Investment Trust | 194,449,563 | |||||
Food Products – 1.8% | ||||||
1,938,651 | Mondelez International Inc | 117,889,367 | ||||
Health Care Equipment & Supplies – 3.7% | ||||||
1,509,088 | Baxter International Inc | 129,313,751 | ||||
800,587 | Medtronic PLC | 104,812,850 | ||||
Total Health Care Equipment & Supplies | 234,126,601 | |||||
Health Care Providers & Services – 5.0% | ||||||
306,669 | Anthem Inc | 116,347,152 | ||||
501,375 | UnitedHealth Group Inc | 199,948,350 | ||||
Total Health Care Providers & Services | 316,295,502 | |||||
Hotels, Restaurants & Leisure – 2.4% | ||||||
651,420 | McDonald's Corp | 153,787,234 | ||||
Household Products – 1.7% | ||||||
1,323,894 | Colgate-Palmolive Co | 106,838,246 | ||||
Industrial Conglomerates – 2.0% | ||||||
570,113 | Honeywell International Inc | 127,158,004 | ||||
Insurance – 3.7% | ||||||
647,917 | Chubb Ltd | 111,176,078 | ||||
925,962 | Marsh & McLennan Cos Inc | 125,653,043 | ||||
Total Insurance | 236,829,121 | |||||
IT Services – 6.2% | ||||||
733,371 | Accenture PLC, Class A | 212,655,589 | ||||
1,191,251 | Fidelity National Information Services Inc | 182,142,278 | ||||
Total IT Services | 394,797,867 | |||||
Media – 2.8% | ||||||
3,138,830 | Comcast Corp | 176,245,304 | ||||
Multi-Utilities – 1.9% | ||||||
1,223,135 | WEC Energy Group Inc | 118,852,028 | ||||
Oil, Gas & Consumable Fuels – 3.2% | ||||||
1,048,404 | Chevron Corp | 108,059,000 | ||||
1,206,558 | Phillips 66 | 97,622,608 | ||||
Total Oil, Gas & Consumable Fuels | 205,681,608 |
2
Shares | Description (1) | Value | ||||
Pharmaceuticals – 4.2% | ||||||
1,034,635 | Johnson & Johnson | $168,366,154 | ||||
1,352,699 | Merck & Co Inc | 100,776,075 | ||||
Total Pharmaceuticals | 269,142,229 | |||||
Road & Rail – 2.5% | ||||||
706,585 | Union Pacific Corp | 156,925,463 | ||||
Semiconductors & Semiconductor Equipment – 4.4% | ||||||
210,272 | Broadcom Inc | 95,926,087 | ||||
1,016,514 | Texas Instruments Inc | 183,490,942 | ||||
Total Semiconductors & Semiconductor Equipment | 279,417,029 | |||||
Software – 4.7% | ||||||
1,200,175 | Microsoft Corp | 302,660,131 | ||||
Specialty Retail – 4.8% | ||||||
914,510 | Lowe's Cos Inc | 179,472,587 | ||||
1,770,007 | TJX Cos Inc | 125,670,497 | ||||
Total Specialty Retail | 305,143,084 | |||||
Technology Hardware, Storage & Peripherals – 4.6% | ||||||
2,250,745 | Apple Inc | 295,882,938 | ||||
Tobacco – 2.2% | ||||||
1,479,501 | Philip Morris International Inc | 140,552,595 | ||||
Total Long-Term Investments (cost $4,221,369,218) | 6,315,864,834 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.5% | ||||||
REPURCHASE AGREEMENTS – 1.5% | ||||||
$94,093 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $94,092,693, collateralized $89,288,000 U.S. Treasury Notes, 2.250%, due 11/15/2027, value $95,974,571 | 0.000% | 5/03/21 | $94,092,693 | ||
Total Short-Term Investments (cost $94,092,693) | 94,092,693 | |||||
Total Investments (cost $4,315,461,911) – 100.3% | 6,409,957,527 | |||||
Other Assets Less Liabilities – (0.3)% | (16,267,082) | |||||
Net Assets – 100% | $6,393,690,445 |
3
Nuveen Santa Barbara Dividend Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $6,315,864,834 | $ — | $ — | $6,315,864,834 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 94,092,693 | — | 94,092,693 |
Total | $6,315,864,834 | $94,092,693 | $ — | $6,409,957,527 |
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. |
4
Nuveen Santa Barbara Global Dividend Growth Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.4% | ||||||
COMMON STOCKS – 98.4% | ||||||
Aerospace & Defense – 1.8% | ||||||
965 | Lockheed Martin Corp | $367,240 | ||||
Banks – 5.0% | ||||||
4,000 | JPMorgan Chase & Co | 615,240 | ||||
5,714 | Toronto-Dominion Bank | 392,819 | ||||
Total Banks | 1,008,059 | |||||
Beverages – 1.8% | ||||||
2,455 | PepsiCo Inc | 353,913 | ||||
Biotechnology – 2.1% | ||||||
3,739 | AbbVie Inc | 416,899 | ||||
Capital Markets – 3.9% | ||||||
3,675 | Charles Schwab Corp | 258,720 | ||||
4,153 | Macquarie Group Ltd, (2) | 511,909 | ||||
Total Capital Markets | 770,629 | |||||
Chemicals – 1.9% | ||||||
2,623 | International Flavors & Fragrances Inc | 372,912 | ||||
Communications Equipment – 3.1% | ||||||
7,021 | Cisco Systems Inc | 357,439 | ||||
1,439 | Motorola Solutions Inc | 270,964 | ||||
Total Communications Equipment | 628,403 | |||||
Consumer Finance – 1.9% | ||||||
2,491 | American Express Co | 381,995 | ||||
Containers & Packaging – 3.7% | ||||||
36,917 | Amcor PLC, (2) | 430,944 | ||||
2,137 | Packaging Corp of America | 315,528 | ||||
Total Containers & Packaging | 746,472 | |||||
Diversified Financial Services – 1.6% | ||||||
19,900 | ORIX Corp, (2) | 321,263 | ||||
Diversified Telecommunication Services – 2.1% | ||||||
7,091 | AT&T Inc | 222,729 | ||||
137,487 | HKT Trust & HKT Ltd, (2) | 199,629 | ||||
Total Diversified Telecommunication Services | 422,358 |
5
Nuveen Santa Barbara Global Dividend Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Electric Utilities – 3.3% | ||||||
4,755 | NextEra Energy Inc | $368,560 | ||||
14,559 | SSE PLC, (2) | 295,162 | ||||
Total Electric Utilities | 663,722 | |||||
Electronic Equipment, Instruments & Components – 0.5% | ||||||
8,400 | Alps Alpine Co Ltd, (2) | 101,781 | ||||
Equity Real Estate Investment Trust – 1.3% | ||||||
3,497 | CyrusOne Inc | 254,687 | ||||
Food Products – 2.0% | ||||||
3,343 | Nestle SA, (2) | 398,561 | ||||
Gas Utilities – 1.8% | ||||||
64,038 | Snam SpA, (2) | 360,345 | ||||
Health Care Equipment & Supplies – 2.0% | ||||||
4,779 | Baxter International Inc | 409,513 | ||||
Health Care Providers & Services – 2.1% | ||||||
1,042 | UnitedHealth Group Inc | 415,550 | ||||
Hotels, Restaurants & Leisure – 1.6% | ||||||
4,780 | Restaurant Brands International Inc | 328,259 | ||||
Household Products – 1.3% | ||||||
3,018 | Reckitt Benckiser Group PLC, (2) | 268,715 | ||||
Industrial Conglomerates – 2.3% | ||||||
2,059 | Honeywell International Inc | 459,239 | ||||
Insurance – 2.1% | ||||||
32,600 | AIA Group Ltd, (2) | 413,778 | ||||
IT Services – 4.1% | ||||||
1,425 | Accenture PLC, Class A | 413,207 | ||||
2,715 | Fidelity National Information Services Inc | 415,124 | ||||
Total IT Services | 828,331 | |||||
Media – 2.9% | ||||||
10,227 | Comcast Corp | 574,246 | ||||
Oil, Gas & Consumable Fuels – 5.2% | ||||||
2,598 | Chevron Corp | 267,776 | ||||
7,428 | Enbridge Inc | 286,508 | ||||
2,914 | Phillips 66 | 235,772 |
6
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels (continued) | ||||||
5,872 | TOTAL SE, (2) | $259,529 | ||||
Total Oil, Gas & Consumable Fuels | 1,049,585 | |||||
Personal Products – 1.8% | ||||||
6,180 | Unilever PLC, (2) | 362,006 | ||||
Pharmaceuticals – 6.0% | ||||||
28,700 | Astellas Pharma Inc, (2) | 431,966 | ||||
2,269 | Johnson & Johnson | 369,234 | ||||
3,722 | Sanofi, (2) | 390,223 | ||||
Total Pharmaceuticals | 1,191,423 | |||||
Professional Services – 1.2% | ||||||
6,061 | Experian PLC, (2) | 233,661 | ||||
Road & Rail – 2.1% | ||||||
1,848 | Union Pacific Corp | 410,422 | ||||
Semiconductors & Semiconductor Equipment – 3.8% | ||||||
661 | Broadcom Inc | 301,548 | ||||
2,588 | Texas Instruments Inc | 467,160 | ||||
Total Semiconductors & Semiconductor Equipment | 768,708 | |||||
Software – 6.7% | ||||||
3,388 | Microsoft Corp | 854,386 | ||||
3,453 | SAP SE, (2) | 483,491 | ||||
Total Software | 1,337,877 | |||||
Specialty Retail – 2.5% | ||||||
2,506 | Lowe's Cos Inc | 491,802 | ||||
Technology Hardware, Storage & Peripherals – 3.0% | ||||||
4,525 | Apple Inc | 594,856 | ||||
Textiles, Apparel & Luxury Goods – 3.3% | ||||||
1,235 | adidas AG, (2) | 381,443 | ||||
372 | LVMH Moet Hennessy Louis Vuitton SE, (2) | 280,246 | ||||
Total Textiles, Apparel & Luxury Goods | 661,689 | |||||
Tobacco – 2.0% | ||||||
4,291 | Philip Morris International Inc | 407,645 | ||||
Trading Companies & Distributors – 2.1% | ||||||
13,125 | ITOCHU Corp, (2) | 409,746 | ||||
Wireless Telecommunication Services – 2.5% | ||||||
9,700 | KDDI Corp, (2) | 293,225 |
7
Nuveen Santa Barbara Global Dividend Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Wireless Telecommunication Services (continued) | ||||||
110,410 | Vodafone Group PLC, (2) | $208,366 | ||||
Total Wireless Telecommunication Services | 501,591 | |||||
Total Long-Term Investments (cost $13,054,027) | 19,687,881 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.0% | ||||||
REPURCHASE AGREEMENTS – 1.0% | ||||||
$202 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $202,081, collateralized $216,100 U.S. Treasury Notes, 0.500%, due 10/31/2027, value $206,190 | 0.000% | 5/03/21 | $202,081 | ||
Total Short-Term Investments (cost $202,081) | 202,081 | |||||
Total Investments (cost $13,256,108) – 99.4% | 19,889,962 | |||||
Other Assets Less Liabilities – 0.6% | 112,662 | |||||
Net Assets – 100% | $20,002,624 |
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
8
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $12,651,892 | $7,035,989 | $ — | $19,687,881 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 202,081 | — | 202,081 |
Total | $12,651,892 | $7,238,070 | $ — | $19,889,962 |
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. |
9
Nuveen Santa Barbara International Dividend Growth Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 97.9% | ||||||
COMMON STOCKS – 97.9% | ||||||
Aerospace & Defense – 2.4% | ||||||
17,201 | BAE Systems PLC, (2) | $120,153 | ||||
Banks – 6.0% | ||||||
32,946 | BOC Hong Kong Holdings Ltd, (2) | 115,846 | ||||
2,756 | Toronto-Dominion Bank | 189,466 | ||||
Total Banks | 305,312 | |||||
Capital Markets – 4.8% | ||||||
1,959 | Macquarie Group Ltd, (2) | 241,471 | ||||
Chemicals – 10.2% | ||||||
1,381 | Koninklijke DSM NV, (2) | 247,613 | ||||
927 | Linde PLC, (2) | 264,971 | ||||
Total Chemicals | 512,584 | |||||
Containers & Packaging – 3.6% | ||||||
15,570 | Amcor PLC, (2) | 181,753 | ||||
Diversified Financial Services – 3.0% | ||||||
9,500 | ORIX Corp, (2) | 153,367 | ||||
Diversified Telecommunication Services – 3.0% | ||||||
104,400 | HKT Trust & HKT Ltd, (2) | 151,587 | ||||
Electric Utilities – 3.2% | ||||||
7,970 | SSE PLC, (2) | 161,580 | ||||
Electronic Equipment, Instruments & Components – 1.2% | ||||||
5,100 | Alps Alpine Co Ltd, (2) | 61,795 | ||||
Food Products – 2.7% | ||||||
1,144 | Nestle SA, (2) | 136,391 | ||||
Gas Utilities – 3.0% | ||||||
26,784 | Snam SpA, (2) | 150,715 | ||||
Hotels, Restaurants & Leisure – 2.8% | ||||||
2,082 | Restaurant Brands International Inc | 142,979 | ||||
Household Products – 2.4% | ||||||
1,379 | Reckitt Benckiser Group PLC, (2) | 122,783 |
10
Shares | Description (1) | Value | ||||
Insurance – 2.7% | ||||||
10,600 | AIA Group Ltd, (2) | $134,541 | ||||
Oil, Gas & Consumable Fuels – 5.7% | ||||||
3,922 | Enbridge Inc | 151,277 | ||||
3,078 | TOTAL SE, (2) | 136,041 | ||||
Total Oil, Gas & Consumable Fuels | 287,318 | |||||
Personal Products – 2.3% | ||||||
2,021 | Unilever PLC, (2) | 118,384 | ||||
Pharmaceuticals – 13.1% | ||||||
12,300 | Astellas Pharma Inc, (2) | 185,128 | ||||
2,365 | Hikma Pharmaceuticals PLC, (2) | 79,699 | ||||
2,713 | Novo Nordisk A/S, (2) | 200,131 | ||||
1,887 | Sanofi, (2) | 197,837 | ||||
Total Pharmaceuticals | 662,795 | |||||
Professional Services – 2.5% | ||||||
3,224 | Experian PLC, (2) | 124,290 | ||||
Real Estate Management & Development – 3.4% | ||||||
62,036 | CapitaLand Ltd, (2) | 172,935 | ||||
Software – 3.8% | ||||||
1,358 | SAP SE, (2) | 190,148 | ||||
Textiles, Apparel & Luxury Goods – 6.2% | ||||||
398 | adidas AG, (2) | 122,926 | ||||
253 | LVMH Moet Hennessy Louis Vuitton SE, (2) | 190,598 | ||||
Total Textiles, Apparel & Luxury Goods | 313,524 | |||||
Trading Companies & Distributors – 4.4% | ||||||
7,100 | ITOCHU Corp, (2) | 221,653 | ||||
Wireless Telecommunication Services – 5.5% | ||||||
4,800 | KDDI Corp, (2) | 145,101 | ||||
69,039 | Vodafone Group PLC, (2) | 130,291 | ||||
Total Wireless Telecommunication Services | 275,392 | |||||
Total Long-Term Investments (cost $3,511,833) | 4,943,450 |
11
Nuveen Santa Barbara International Dividend Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 3.1% | ||||||
REPURCHASE AGREEMENTS – 3.1% | ||||||
$158 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $157,655, collateralized $168,600 U.S. Treasury Notes, 0.500%, due 10/31/2027, value $160,868 | 0.000% | 5/03/21 | $157,655 | ||
Total Short-Term Investments (cost $157,655) | 157,655 | |||||
Total Investments (cost $3,669,488) – 101.0% | 5,101,105 | |||||
Other Assets Less Liabilities – (1.0)% | (49,420) | |||||
Net Assets – 100% | $5,051,685 |
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $483,722 | $4,459,728 | $ — | $4,943,450 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 157,655 | — | 157,655 |
Total | $483,722 | $4,617,383 | $ — | $5,101,105 |
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. |
12
Nuveen Emerging Markets Equity Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 94.7% | ||||||
COMMON STOCKS – 94.7% | ||||||
Banks – 6.6% | ||||||
1,616 | Capitec Bank Holdings Ltd, (2) | $165,628 | ||||
1,971 | HDFC Bank Ltd, ADR, (2) | 138,522 | ||||
16,657 | ICICI Bank Ltd, Sponsored ADR, (2) | 271,509 | ||||
39,646 | Itau Unibanco Holding SA | 200,929 | ||||
8,834 | Sberbank of Russia PJSC, Sponsored ADR, (3) | 139,312 | ||||
7,106 | Sberbank of Russia PJSC, Sponsored ADR, (3) | 111,871 | ||||
Total Banks | 1,027,771 | |||||
Beverages – 1.0% | ||||||
58,252 | Anadolu Efes Biracilik Ve Malt Sanayii AS | 164,087 | ||||
Electronic Equipment, Instruments & Components – 4.9% | ||||||
45,224 | AAC Technologies Holdings Inc, (3) | 251,046 | ||||
23,292 | Delta Electronics Inc, (3) | 249,525 | ||||
59,000 | Foxconn Industrial Internet Co Ltd, (3) | 125,134 | ||||
12,700 | Foxconn Industrial Internet Co Ltd, (2), (3) | 26,936 | ||||
5,000 | Sunny Optical Technology Group Co Ltd, (3) | 121,211 | ||||
Total Electronic Equipment, Instruments & Components | 773,852 | |||||
Entertainment – 4.0% | ||||||
17,667 | HUYA Inc, ADR, (2), (4) | 311,292 | ||||
647 | Sea Ltd, ADR, (2) | 163,393 | ||||
8,749 | Tencent Music Entertainment Group, ADR, (2) | 152,408 | ||||
Total Entertainment | 627,093 | |||||
Food & Staples Retailing – 5.8% | ||||||
20,356 | Cia Brasileira de Distribuicao | 152,631 | ||||
20,356 | Sendas Distribuidora SA | 303,127 | ||||
135,274 | Wal-Mart de Mexico SAB de CV | 443,612 | ||||
Total Food & Staples Retailing | 899,370 | |||||
Health Care Providers & Services – 1.1% | ||||||
133,771 | Life Healthcare Group Holdings Ltd, (2) | 175,625 | ||||
Hotels, Restaurants & Leisure – 8.2% | ||||||
40,700 | Galaxy Entertainment Group Ltd, (2), (3) | 357,270 | ||||
4,299 | Huazhu Group Ltd, ADR, (2) | 253,469 | ||||
17,871 | Melco Resorts & Entertainment Ltd, ADR, (2) | 344,732 | ||||
89,800 | Wynn Macau Ltd, (2), (3) | 172,219 |
13
Nuveen Emerging Markets Equity Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Hotels, Restaurants & Leisure (continued) | ||||||
1,256 | Wynn Resorts Ltd, (2) | $161,270 | ||||
Total Hotels, Restaurants & Leisure | 1,288,960 | |||||
Insurance – 1.7% | ||||||
24,728 | Ping An Insurance Group Co of China Ltd, (3) | 269,591 | ||||
Interactive Media & Services – 10.2% | ||||||
2,656 | Baidu Inc, Sponsored ADR, (2) | 558,636 | ||||
11,960 | MailRu Group Ltd, GDR, (2) | 266,708 | ||||
8,000 | Tencent Holdings Ltd, (3) | 638,176 | ||||
1,902 | Yandex NV, (2) | 124,676 | ||||
Total Interactive Media & Services | 1,588,196 | |||||
Internet & Direct Marketing Retail – 19.3% | ||||||
5,492 | Alibaba Group Holding Ltd, Sponsored ADR, (2) | 1,268,377 | ||||
21,070 | B2W Cia Digital, (2) | 261,123 | ||||
4,683 | Baozun Inc, Sponsored ADR, (2) | 162,547 | ||||
2,640 | Coupang Inc, (2) | 110,616 | ||||
6,012 | JDcom Inc, ADR, (2) | 465,088 | ||||
6,800 | Meituan., Class B,144A, (2), (3) | 260,265 | ||||
2,156 | Naspers Ltd, (3) | 490,663 | ||||
Total Internet & Direct Marketing Retail | 3,018,679 | |||||
IT Services – 1.0% | ||||||
2,330 | StoneCo Ltd, (2) | 150,611 | ||||
Media – 2.9% | ||||||
21,720 | Grupo Televisa SAB, Sponsored ADR, (2) | 268,893 | ||||
14,112 | iClick Interactive Asia Group Ltd, ADR, (2) | 182,045 | ||||
Total Media | 450,938 | |||||
Metals & Mining – 2.8% | ||||||
21,421 | AngloGold Ashanti Ltd, (3) | 441,856 | ||||
Multiline Retail – 3.7% | ||||||
115,125 | Lojas Americanas SA | 442,100 | ||||
1,056,300 | Matahari Department Store Tbk PT, (2), (3) | 131,433 | ||||
Total Multiline Retail | 573,533 | |||||
Oil, Gas & Consumable Fuels – 4.0% | ||||||
4,255 | Reliance Industries Ltd, Sponsored GDR,144A | 230,196 | ||||
7,234 | Reliance Industries Ltd, Sponsored GDR,144A | 391,359 | ||||
Total Oil, Gas & Consumable Fuels | 621,555 | |||||
Personal Products – 3.0% | ||||||
1,959 | Amorepacific Corp, (3) | 474,872 |
14
Shares | Description (1) | Value | ||||
Semiconductors & Semiconductor Equipment – 9.8% | ||||||
37,130 | ASE Technology Holding Co Ltd, (3) | $155,157 | ||||
3,720 | MediaTek Inc, (3) | 155,952 | ||||
2,146 | SK Hynix Inc, (3) | 244,818 | ||||
46,662 | Taiwan Semiconductor Manufacturing Co Ltd, (3) | 982,683 | ||||
Total Semiconductors & Semiconductor Equipment | 1,538,610 | |||||
Technology Hardware, Storage & Peripherals – 4.7% | ||||||
10,095 | Samsung Electronics Co Ltd, (3) | 735,779 | ||||
Total Long-Term Investments (cost $12,196,151) | 14,820,978 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 1.9% | ||||||
MONEY MARKET FUNDS – 1.9% | ||||||
289,356 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.020% (6) | $289,356 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $289,356) | 289,356 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 4.7% | ||||||
REPURCHASE AGREEMENTS – 4.7% | ||||||
$740 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $739,989, collateralized by $791,100 U.S. Treasury Notes, 0.500%, due 10/31/27, value $754,821 | 0.000% | 5/03/21 | $739,990 | ||
Total Short-Term Investments (cost $739,990) | 739,990 | |||||
Total Investments (cost $13,225,497) – 101.3% | 15,850,324 | |||||
Other Assets Less Liabilities – (1.3)% | (207,815) | |||||
Net Assets – 100% | $15,642,509 |
15
Nuveen Emerging Markets Equity Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $8,285,209 | $6,535,769 | $ — | $14,820,978 |
Investments Purchased with Collateral from Securities Lending | 289,356 | — | — | 289,356 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 739,990 | — | 739,990 |
Total | $8,574,565 | $7,275,759 | $ — | $15,850,324 |
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) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(4) | 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 $271,912. | |
(5) | 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. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. | |
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 | |
GDR | Global Depositary Receipt |
16
Nuveen International Growth Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.3% | ||||||
COMMON STOCKS – 98.3% | ||||||
Aerospace & Defense – 3.7% | ||||||
189,046 | Airbus SE, (2), (3) | $22,734,605 | ||||
910,246 | CAE Inc, (3) | 28,511,143 | ||||
325,529 | Thales SA, (2) | 33,186,475 | ||||
Total Aerospace & Defense | 84,432,223 | |||||
Airlines – 1.1% | ||||||
1,268,500 | Air Canada, (3) | 25,562,987 | ||||
Automobiles – 0.7% | ||||||
573,112 | Aston Martin Lagonda Global Holdings PLC,144A, (2), (3) | 15,352,677 | ||||
Banks – 4.4% | ||||||
3,915,700 | Banco do Brasil SA | 21,366,031 | ||||
1,039,096 | HDFC Bank Ltd, (2), (3) | 19,751,181 | ||||
2,760,007 | ING Groep NV, (2) | 35,259,033 | ||||
37,254,388 | Lloyds Banking Group PLC, (2) | 23,361,457 | ||||
Total Banks | 99,737,702 | |||||
Beverages – 2.3% | ||||||
650,317 | Coca-Cola HBC AG, (2) | 22,476,197 | ||||
668,727 | Diageo PLC, (2) | 30,020,067 | ||||
Total Beverages | 52,496,264 | |||||
Biotechnology – 1.2% | ||||||
94,729 | CRISPR Therapeutics AG, (3) | 12,435,076 | ||||
35,472 | Genmab A/S, (2), (3) | 13,016,878 | ||||
49,500 | PeptiDream Inc, (3) | 2,121,946 | ||||
Total Biotechnology | 27,573,900 | |||||
Capital Markets – 5.0% | ||||||
532,558 | Allfunds Group Plc, (3) | 8,950,942 | ||||
746,678 | Brookfield Asset Management Inc | 34,033,583 | ||||
376,900 | Hong Kong Exchanges & Clearing Ltd, (2) | 22,731,225 | ||||
269,359 | London Stock Exchange Group PLC, (2) | 27,519,933 | ||||
1,018,297 | Nordnet AB publ | 19,131,673 | ||||
Total Capital Markets | 112,367,356 | |||||
Chemicals – 3.6% | ||||||
159,138 | Air Liquide SA, (2) | 26,799,202 | ||||
132,419 | BASF SE, (2) | 10,671,814 |
17
Nuveen International Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Chemicals (continued) | ||||||
217,796 | Chr Hansen Holding A/S, (2), (3) | $19,995,280 | ||||
345,908 | Covestro AG,144A, (2) | 22,622,177 | ||||
Total Chemicals | 80,088,473 | |||||
Commercial Services & Supplies – 0.3% | ||||||
900,900 | Vamos Locacao de Caminhoes Maquinas e Equipamentos SA, (3) | 6,899,318 | ||||
Diversified Financial Services – 2.6% | ||||||
3,402,663 | Burford Capital Ltd, (3) | 45,018,778 | ||||
4,415,528 | Omni Bridgeway Ltd, (2) | 12,796,235 | ||||
Total Diversified Financial Services | 57,815,013 | |||||
Diversified Telecommunication Services – 1.5% | ||||||
592,574 | Cellnex Telecom SA,144A, (2) | 33,518,391 | ||||
Electronic Equipment, Instruments & Components – 3.4% | ||||||
4,059,500 | AAC Technologies Holdings Inc, (2) | 22,535,007 | ||||
70,500 | Keyence Corp, (2) | 33,843,715 | ||||
760,569 | Softwareone Holding AG, (2) | 19,710,668 | ||||
Total Electronic Equipment, Instruments & Components | 76,089,390 | |||||
Entertainment – 3.9% | ||||||
121,759 | CD Projekt SA, (2), (3) | 5,574,198 | ||||
40,000 | Nintendo Co Ltd, (2) | 22,946,111 | ||||
64,298 | Sea Ltd, ADR, (3) | 16,237,817 | ||||
65,556 | Spotify Technology SA, (3) | 16,527,979 | ||||
343,372 | Ubisoft Entertainment SA, (2), (3) | 25,768,061 | ||||
Total Entertainment | 87,054,166 | |||||
Equity Real Estate Investment Trust – 0.8% | ||||||
115,199 | Digital Realty Trust Inc | 17,776,358 | ||||
Food & Staples Retailing – 1.4% | ||||||
255,202 | Dino Polska SA,144A, (2), (3) | 16,557,245 | ||||
48,262 | Zur Rose Group AG, (2), (3) | 16,062,213 | ||||
Total Food & Staples Retailing | 32,619,458 | |||||
Food Products – 1.4% | ||||||
13,277,320 | Ausnutria Dairy Corp Ltd, (2) | 19,617,496 | ||||
95,593 | Nestle SA, (2) | 11,396,842 | ||||
Total Food Products | 31,014,338 | |||||
Health Care Equipment & Supplies – 3.9% | ||||||
156,147 | Cochlear Ltd, (2) | 26,729,203 | ||||
298,900 | Hoya Corp, (2), (3) | 33,974,551 |
18
Shares | Description (1) | Value | ||||
Health Care Equipment & Supplies (continued) | ||||||
476,579 | Koninklijke Philips NV, (2) | $26,947,262 | ||||
Total Health Care Equipment & Supplies | 87,651,016 | |||||
Health Care Providers & Services – 1.0% | ||||||
173,290 | Orpea SA, (2) | 22,302,744 | ||||
Hotels, Restaurants & Leisure – 1.0% | ||||||
553,120 | Accor SA, (2) | 22,272,027 | ||||
Household Durables – 2.2% | ||||||
499,800 | Sony Group Corp, (2) | 49,969,455 | ||||
Industrial Conglomerates – 1.0% | ||||||
258,467 | DCC PLC, (2) | 22,426,925 | ||||
Insurance – 3.1% | ||||||
3,449,400 | AIA Group Ltd, (2) | 43,781,754 | ||||
2,295,144 | Ping An Insurance Group Co of China Ltd, (2) | 25,022,265 | ||||
Total Insurance | 68,804,019 | |||||
Interactive Media & Services – 4.3% | ||||||
125,868 | Baidu Inc, Sponsored ADR, (3) | 26,473,816 | ||||
464,200 | Kuaishou Technology,144A, (3) | 15,716,855 | ||||
599,302 | Tencent Holdings Ltd, (2) | 47,807,514 | ||||
1,754,661 | Trustpilot Group PLC,144A, (3) | 7,584,847 | ||||
Total Interactive Media & Services | 97,583,032 | |||||
Internet & Direct Marketing Retail – 9.1% | ||||||
1,000,200 | Alibaba Group Holding Ltd, (2), (3) | 28,913,477 | ||||
208,615 | Alibaba Group Holding Ltd, Sponsored ADR, (3) | 48,179,634 | ||||
1,321,823 | Allegroeu SA,144A, (3) | 20,265,490 | ||||
6,114,280 | boohoo Group PLC, (2), (3) | 28,695,918 | ||||
199,672 | Coupang Inc, (3) | 8,366,257 | ||||
1,328,550 | JD Health International Inc,144A, (2), (3) | 20,511,827 | ||||
750,600 | JDcom Inc, (2), (3) | 28,987,066 | ||||
14,260 | MercadoLibre Inc, (3) | 22,402,175 | ||||
Total Internet & Direct Marketing Retail | 206,321,844 | |||||
IT Services – 4.9% | ||||||
1,706,800 | GDS Holdings Ltd, (2), (3) | 17,645,342 | ||||
257,555 | GDS Holdings Ltd, ADR, (3) | 21,369,338 | ||||
2,098,951 | Megaport Ltd, (2), (3) | 23,213,909 | ||||
5,451,790 | NEXTDC Ltd, (2), (3) | 48,484,725 | ||||
Total IT Services | 110,713,314 |
19
Nuveen International Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Life Sciences Tools & Services – 3.5% | ||||||
231,470 | Eurofins Scientific SE, (2) | $22,925,135 | ||||
33,867 | Evotec SE, (3) | 1,410,015 | ||||
164,122 | ICON PLC, (3) | 35,606,268 | ||||
1,282,500 | Wuxi Biologics Cayman Inc,144A, (2), (3) | 18,003,470 | ||||
Total Life Sciences Tools & Services | 77,944,888 | |||||
Machinery – 1.0% | ||||||
230,391 | Kornit Digital Ltd, (3) | 22,523,024 | ||||
Media – 0.8% | ||||||
1,307,761 | YouGov PLC | 19,144,477 | ||||
Multiline Retail – 1.1% | ||||||
6,236,100 | Lojas Americanas SA | 23,947,689 | ||||
Multi-Utilities – 1.0% | ||||||
610,232 | RWE AG, (2) | 23,171,638 | ||||
Oil, Gas & Consumable Fuels – 3.5% | ||||||
1,232,511 | BP PLC, Sponsered ADR | 31,009,977 | ||||
746,858 | Parkland Corp/Canada | 23,988,898 | ||||
909,409 | Reliance Industries Ltd, (2) | 24,449,510 | ||||
Total Oil, Gas & Consumable Fuels | 79,448,385 | |||||
Personal Products – 0.1% | ||||||
559,400 | Kitanotatsujin Corp, (2) | 2,606,220 | ||||
Pharmaceuticals – 3.6% | ||||||
330,320 | AstraZeneca PLC, (2) | 35,160,540 | ||||
268,038 | Dr Reddy's Laboratories Ltd, ADR | 18,499,983 | ||||
362,635 | Novo Nordisk A/S, (2) | 26,750,657 | ||||
Total Pharmaceuticals | 80,411,180 | |||||
Professional Services – 2.8% | ||||||
946,088 | Experian PLC, (2) | 36,473,147 | ||||
580,500 | Recruit Holdings Co Ltd, (2) | 26,173,282 | ||||
Total Professional Services | 62,646,429 | |||||
Real Estate Management & Development – 1.0% | ||||||
342,758 | Vonovia SE, (2) | 22,520,817 | ||||
Road & Rail – 0.8% | ||||||
157,000 | Canadian National Railway Co | 16,902,583 | ||||
Semiconductors & Semiconductor Equipment – 6.0% | ||||||
6,291,000 | ASE Technology Holding Co Ltd, (2) | 26,288,433 | ||||
53,916 | ASML Holding NV, (2) | 34,999,112 |
20
Shares | Description (1) | Value | ||||
Semiconductors & Semiconductor Equipment (continued) | ||||||
68,671 | Broadcom Inc | $31,327,710 | ||||
1,324,000 | Taiwan Semiconductor Manufacturing Co Ltd, (2) | 27,882,920 | ||||
131,165 | Taiwan Semiconductor Manufacturing Co Ltd, Sponsored ADR | 15,312,202 | ||||
Total Semiconductors & Semiconductor Equipment | 135,810,377 | |||||
Software – 1.8% | ||||||
1,369,895 | Darktrace PLC, (3) | 6,243,246 | ||||
422,000 | Dye & Durham Ltd | 14,656,616 | ||||
436,717 | Open Text Corp | 20,569,371 | ||||
Total Software | 41,469,233 | |||||
Specialty Retail – 0.4% | ||||||
174,342 | Auto1 Group SE,144A, (3) | 9,851,323 | ||||
Textiles, Apparel & Luxury Goods – 2.6% | ||||||
66,822 | adidas AG, (2) | 20,638,698 | ||||
38,731 | LVMH Moet Hennessy Louis Vuitton SE, (2) | 29,178,004 | ||||
93,158 | Puma SE, (2) | 9,820,922 | ||||
Total Textiles, Apparel & Luxury Goods | 59,637,624 | |||||
Trading Companies & Distributors – 0.5% | ||||||
585,744 | InPost SA, (3) | 11,161,737 | ||||
Total Long-Term Investments (cost $1,985,067,256) | 2,217,640,014 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.9% | ||||||
REPURCHASE AGREEMENTS – 1.9% | ||||||
$41,932 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $41,932,025, collateralized by $44,826,400 U.S. Treasury Notes, 0.500%, due 10/31/27, value $42,770,706 | 0.000% | 5/03/21 | $41,932,025 | ||
Total Short-Term Investments (cost $41,932,025) | 41,932,025 | |||||
Total Investments (cost $2,026,999,281) – 100.2% | 2,259,572,039 | |||||
Other Assets Less Liabilities – (0.2)% | (3,533,795) | |||||
Net Assets – 100% | $2,256,038,244 |
21
Nuveen International Growth Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $727,087,162 | $1,490,552,852 | $ — | $2,217,640,014 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 41,932,025 | — | 41,932,025 |
Total | $727,087,162 | $1,532,484,877 | $ — | $2,259,572,039 |
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 |
22
Nuveen Winslow International Small Cap Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 97.9% | ||||||
COMMON STOCKS – 97.9% | ||||||
Aerospace & Defense – 1.9% | ||||||
42,464 | Kongsberg Gruppen ASA, (2) | $1,071,739 | ||||
Auto Components – 1.3% | ||||||
37,900 | Toyo Tire Corp, (2) | 693,427 | ||||
Banks – 3.3% | ||||||
27,000 | Canadian Western Bank | 742,464 | ||||
234,805 | Israel Discount Bank Ltd, (2), (3) | 1,056,999 | ||||
Total Banks | 1,799,463 | |||||
Beverages – 2.6% | ||||||
68,985 | Britvic PLC | 840,773 | ||||
4,708 | Royal Unibrew A/S, (2) | 575,086 | ||||
Total Beverages | 1,415,859 | |||||
Building Products – 1.8% | ||||||
21,200 | AGC Inc/Japan, (2) | 966,705 | ||||
Capital Markets – 1.1% | ||||||
16,500 | Avanza Bank Holding AB, (2) | 592,271 | ||||
Chemicals – 0.9% | ||||||
29,400 | Tosoh Corp, (2) | 521,113 | ||||
Construction Materials – 1.4% | ||||||
31,300 | Taiheiyo Cement Corp, (2) | 785,840 | ||||
Consumer Finance – 1.9% | ||||||
8,900 | goeasy Ltd | 1,052,954 | ||||
Containers & Packaging – 1.0% | ||||||
22,398 | SIG Combibloc Group AG, (2) | 548,999 | ||||
Distributors – 2.9% | ||||||
9,150 | D'ieteren SA/NV, (2) | 993,531 | ||||
11,950 | PALTAC Corp, (2) | 622,618 | ||||
Total Distributors | 1,616,149 | |||||
Diversified Financial Services – 1.1% | ||||||
13,200 | Zenkoku Hosho Co Ltd, (2) | 592,465 |
23
Nuveen Winslow International Small Cap Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Electronic Equipment, Instruments & Components – 4.2% | ||||||
34,700 | Anritsu Corp, (2) | $674,206 | ||||
48,650 | Electrocomponents PLC, (2) | 716,042 | ||||
21,023 | Spectris PLC, (2) | 944,351 | ||||
Total Electronic Equipment, Instruments & Components | 2,334,599 | |||||
Equity Real Estate Investment Trust – 6.0% | ||||||
6,056 | Aedifica SA, (2) | 739,792 | ||||
20,200 | Canadian Apartment Properties REIT | 897,961 | ||||
65,300 | Safestore Holdings PLC | 767,904 | ||||
57,590 | UNITE Group PLC | 926,579 | ||||
Total Equity Real Estate Investment Trust | 3,332,236 | |||||
Food & Staples Retailing – 1.2% | ||||||
2,020 | Zur Rose Group AG, (2), (3) | 672,282 | ||||
Food Products – 1.6% | ||||||
12,716 | Salmar ASA, (2) | 879,990 | ||||
Health Care Equipment & Supplies – 1.3% | ||||||
159,400 | Nanosonics Ltd, (2), (3) | 738,816 | ||||
Health Care Providers & Services – 1.8% | ||||||
38,000 | Ship Healthcare Holdings Inc, (2) | 995,898 | ||||
Health Care Technology – 2.0% | ||||||
29,675 | Pro Medicus Ltd, (2) | 1,077,968 | ||||
Hotels, Restaurants & Leisure – 2.5% | ||||||
162,652 | SSP Group Plc, (2), (3) | 719,682 | ||||
11,800 | Tokyotokeiba Co Ltd, (2) | 638,935 | ||||
Total Hotels, Restaurants & Leisure | 1,358,617 | |||||
Household Durables – 2.5% | ||||||
13,700 | Kaufman & Broad SA, (2) | 622,846 | ||||
33,300 | Sumitomo Forestry Co Ltd, (2) | 768,898 | ||||
Total Household Durables | 1,391,744 | |||||
Independent Power & Renewable Electricity Producers – 1.9% | ||||||
32,100 | Capital Power Corp | 1,023,471 | ||||
Industrial Conglomerates – 1.2% | ||||||
6,544 | Rheinmetall AG, (2) | 682,795 | ||||
Insurance – 1.6% | ||||||
188,600 | Beazley PLC, (2), (3) | 881,658 |
24
Shares | Description (1) | Value | ||||
Interactive Media & Services – 1.4% | ||||||
52,103 | carsalescom Ltd, (2) | $795,960 | ||||
Internet & Direct Marketing Retail – 1.0% | ||||||
27,850 | BHG Group AB, (2), (3) | 535,092 | ||||
IT Services – 3.8% | ||||||
33,452 | Kainos Group PLC | 705,919 | ||||
21,800 | Nihon Unisys Ltd, (2) | 690,543 | ||||
27,400 | TIS Inc, (2) | 679,801 | ||||
Total IT Services | 2,076,263 | |||||
Machinery – 7.4% | ||||||
4,400 | Daifuku Co Ltd, (2) | 434,907 | ||||
29,460 | IMI PLC, (2) | 647,372 | ||||
2,517 | Kardex Holding AG, (2) | 519,581 | ||||
10,152 | KION Group AG, (2) | 1,011,619 | ||||
3,132 | Spirax-Sarco Engineering PLC, (2) | 511,217 | ||||
38,075 | Trelleborg AB, (2) | 990,552 | ||||
Total Machinery | 4,115,248 | |||||
Marine – 1.7% | ||||||
69,837 | Atlas Corp | 962,354 | ||||
Metals & Mining – 3.7% | ||||||
19,483 | APERAM SA, (2) | 1,008,390 | ||||
29,040 | Nippon Light Metal Holdings Co Ltd, (2) | 565,594 | ||||
350,881 | St Barbara Ltd, (2) | 495,938 | ||||
Total Metals & Mining | 2,069,922 | |||||
Multiline Retail – 2.0% | ||||||
43,940 | Tokmanni Group Corp, (2) | 1,129,977 | ||||
Oil, Gas & Consumable Fuels – 3.2% | ||||||
28,400 | Parkland Corp/Canada | 912,201 | ||||
39,300 | Tourmaline Oil Corp | 847,932 | ||||
Total Oil, Gas & Consumable Fuels | 1,760,133 | |||||
Pharmaceuticals – 4.9% | ||||||
22,010 | Dechra Pharmaceuticals PLC | 1,226,211 | ||||
8,336 | Dermapharm Holding SE, (2) | 728,577 | ||||
12,700 | Laboratorios Farmaceuticos Rovi SA, (3) | 735,945 | ||||
Total Pharmaceuticals | 2,690,733 | |||||
Real Estate Management & Development – 1.3% | ||||||
22,275 | TAG Immobilien AG, (2) | 688,878 |
25
Nuveen Winslow International Small Cap Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Road & Rail – 1.2% | ||||||
15,300 | Sankyu Inc, (2) | $653,160 | ||||
Semiconductors & Semiconductor Equipment – 2.9% | ||||||
8,430 | BE Semiconductor Industries NV, (2) | 680,851 | ||||
32,800 | Tower Semiconductor Ltd, (3) | 928,240 | ||||
Total Semiconductors & Semiconductor Equipment | 1,609,091 | |||||
Software – 3.6% | ||||||
37,907 | Altium Ltd, (2) | 864,495 | ||||
4,050 | Kinaxis Inc, (3) | 522,383 | ||||
6,000 | Netcompany Group A/S,144A, (2) | 625,761 | ||||
Total Software | 2,012,639 | |||||
Specialty Retail – 3.2% | ||||||
63,165 | Bilia AB, (2) | 1,101,049 | ||||
38,400 | United Arrows Ltd, (2), (3) | 674,995 | ||||
Total Specialty Retail | 1,776,044 | |||||
Thrifts & Mortgage Finance – 1.7% | ||||||
143,521 | OSB Group PLC, (2) | 950,283 | ||||
Trading Companies & Distributors – 5.9% | ||||||
86,976 | Howden Joinery Group PLC, (2) | 971,652 | ||||
22,900 | Nishio Rent All Co Ltd, (2) | 632,552 | ||||
44,600 | Russel Metals Inc | 1,022,518 | ||||
8,200 | Toromont Industries Ltd | 653,786 | ||||
Total Trading Companies & Distributors | 3,280,508 | |||||
Total Long-Term Investments (cost $41,239,456) | 54,133,343 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.6% | ||||||
REPURCHASE AGREEMENTS – 1.6% | ||||||
$865 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $864,681, collateralized by $924,400, U.S. Treasury Notes, 0.500%, due 10/31/27, value $882,008 | 0.000% | 5/03/21 | $864,681 | ||
Total Short-Term Investments (cost $864,681) | 864,681 | |||||
Total Investments (cost $42,104,137) – 99.5% | 54,998,024 | |||||
Other Assets Less Liabilities – 0.5% | 271,838 | |||||
Net Assets – 100% | $55,269,862 |
26
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the market value of the Fund’s investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $14,769,595 | $39,363,748 | $ — | $54,133,343 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 864,681 | — | 864,681 |
Total | $14,769,595 | $40,228,429 | $ — | $54,998,024 |
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. | |
REIT | Real Estate Investment Trust |
27
Nuveen Winslow Large-Cap Growth ESG Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.6% | ||||||
COMMON STOCKS – 99.6% | ||||||
Air Freight & Logistics – 0.9% | ||||||
35,200 | United Parcel Service Inc., Class B | $7,175,872 | ||||
Capital Markets – 3.2% | ||||||
42,220 | Moody's Corp | 13,793,696 | ||||
59,250 | Morgan Stanley | 4,891,087 | ||||
15,102 | MSCI Inc | 7,336,099 | ||||
Total Capital Markets | 26,020,882 | |||||
Chemicals – 2.1% | ||||||
37,376 | Ecolab Inc | 8,376,709 | ||||
29,342 | Linde PLC | 8,387,117 | ||||
Total Chemicals | 16,763,826 | |||||
Commercial Services & Supplies – 1.1% | ||||||
26,170 | Cintas Corp | 9,032,314 | ||||
Containers & Packaging – 1.2% | ||||||
106,189 | Ball Corp | 9,943,538 | ||||
Electronic Equipment, Instruments & Components – 1.0% | ||||||
62,625 | TE Connectivity Ltd | 8,421,184 | ||||
Health Care Equipment & Supplies – 3.8% | ||||||
22,444 | Align Technology Inc, (2) | 13,366,075 | ||||
126,332 | Edwards Lifesciences Corp, (2) | 12,067,233 | ||||
19,930 | Insulet Corp, (2) | 5,883,735 | ||||
Total Health Care Equipment & Supplies | 31,317,043 | |||||
Health Care Providers & Services – 1.6% | ||||||
32,473 | UnitedHealth Group Inc | 12,950,232 | ||||
Hotels, Restaurants & Leisure – 4.1% | ||||||
6,576 | Chipotle Mexican Grill Inc, (2) | 9,811,589 | ||||
88,200 | Hilton Worldwide Holdings Inc, (2) | 11,351,340 | ||||
105,050 | Starbucks Corp | 12,027,175 | ||||
Total Hotels, Restaurants & Leisure | 33,190,104 | |||||
Interactive Media & Services – 8.4% | ||||||
12,967 | Alphabet Inc, Class C, (2) | 31,252,026 | ||||
12,693 | Alphabet Inc., Class A, (2) | 29,872,976 |
28
Shares | Description (1) | Value | ||||
Interactive Media & Services (continued) | ||||||
77,700 | Bumble Inc, Class A, (2) | $4,680,648 | ||||
46,200 | Pinterest Inc., Class A, (2) | 3,066,294 | ||||
Total Interactive Media & Services | 68,871,944 | |||||
Internet & Direct Marketing Retail – 10.1% | ||||||
16,600 | Alibaba Group Holding Ltd, Sponsored ADR, (2) | 3,833,770 | ||||
20,140 | Amazon.com Inc, (2) | 69,833,839 | ||||
5,570 | MercadoLibre Inc, (2) | 8,750,358 | ||||
Total Internet & Direct Marketing Retail | 82,417,967 | |||||
Internet Software & Services – 0.6% | ||||||
21,950 | Snowflake Inc, Class A, (2) | 5,083,400 | ||||
IT Services – 14.0% | ||||||
66,786 | Mastercard Inc, Class A | 25,516,259 | ||||
77,825 | PayPal Holdings Inc, (2) | 20,412,719 | ||||
6,750 | Shopify Inc, Class A, (2) | 7,981,943 | ||||
44,042 | Square Inc, Class A, (2) | 10,782,362 | ||||
151,151 | Visa Inc, Class A | 35,302,828 | ||||
44,124 | Wixcom Ltd, (2) | 14,026,137 | ||||
Total IT Services | 114,022,248 | |||||
Life Sciences Tools & Services – 3.9% | ||||||
105,915 | Agilent Technologies Inc | 14,154,480 | ||||
10,400 | Bio-Techne Corp | 4,445,896 | ||||
57,210 | IQVIA Holdings Inc, (2) | 13,426,615 | ||||
Total Life Sciences Tools & Services | 32,026,991 | |||||
Personal Products – 1.5% | ||||||
38,375 | Estee Lauder Cos Inc., Class A | 12,042,075 | ||||
Pharmaceuticals – 2.0% | ||||||
95,985 | Zoetis Inc | 16,608,285 | ||||
Real Estate Management & Development – 0.1% | ||||||
24,700 | Compass Inc, Class A, (2), (3) | 469,794 | ||||
Semiconductors & Semiconductor Equipment – 6.9% | ||||||
30,683 | ASML Holding NV | 19,885,652 | ||||
45,014 | NVIDIA Corp | 27,025,506 | ||||
51,077 | Texas Instruments Inc | 9,219,909 | ||||
Total Semiconductors & Semiconductor Equipment | 56,131,067 | |||||
Software – 23.8% | ||||||
64,611 | Adobe Inc, (2) | 32,844,356 | ||||
37,716 | Atlassian Corp PLC, Class A, (2) | 8,959,813 |
29
Nuveen Winslow Large-Cap Growth ESG Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Software (continued) | ||||||
29,598 | Autodesk Inc, (2) | $8,639,952 | ||||
43,798 | DocuSign Inc, (2) | 9,764,326 | ||||
41,634 | Intuit Inc | 17,159,869 | ||||
302,472 | Microsoft Corp | 76,277,389 | ||||
44,100 | PTC Inc, (2) | 5,774,454 | ||||
56,974 | salesforcecom Inc, (2) | 13,122,252 | ||||
23,140 | ServiceNow Inc, (2) | 11,717,402 | ||||
42,372 | Workday Inc, Class A, (2) | 10,465,884 | ||||
Total Software | 194,725,697 | |||||
Technology Hardware, Storage & Peripherals – 5.6% | ||||||
348,157 | Apple Inc | 45,768,719 | ||||
Textiles, Apparel & Luxury Goods – 3.7% | ||||||
29,880 | Lululemon Athletica Inc, (2) | 10,017,868 | ||||
153,696 | NIKE Inc., Class B | 20,383,163 | ||||
Total Textiles, Apparel & Luxury Goods | 30,401,031 | |||||
Total Long-Term Investments (cost $443,120,336) | 813,384,213 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.1% | ||||||
MONEY MARKET FUNDS – 0.1% | ||||||
470,801 | State Street Navigator Securities Lending Government Money Market Portfolio, (4) | 0.020% (5) | $470,801 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $470,801) | 470,801 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 0.5% | ||||||
REPURCHASE AGREEMENTS – 0.5% | ||||||
$4,412 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $4,411,537, collateralized by $4,716,100, U.S. Treasury Notes, 0.500%, due 10/31/27, value $4,499,824 | 0.000% | 5/03/21 | $4,411,537 | ||
Total Short-Term Investments (cost $4,411,537) | 4,411,537 | |||||
Total Investments (cost $448,002,674) – 100.2% | 818,266,551 | |||||
Other Assets Less Liabilities – (0.2)% | (1,543,075) | |||||
Net Assets – 100% | $816,723,476 |
30
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $813,384,213 | $ — | $ — | $813,384,213 |
Investments Purchased with Collateral from Securities Lending | 470,801 | — | — | 470,801 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 4,411,537 | — | 4,411,537 |
Total | $813,855,014 | $4,411,537 | $ — | $818,266,551 |
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 $465,096. | |
(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 |
31
Nuveen Winslow International Large Cap Fund
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.8% | ||||||
COMMON STOCKS – 99.8% | ||||||
Aerospace & Defense – 1.6% | ||||||
15,192 | BAE Systems PLC, (2) | $106,120 | ||||
Air Freight & Logistics – 2.1% | ||||||
2,304 | Deutsche Post AG, (2) | 135,699 | ||||
Airlines – 1.5% | ||||||
4,475 | Japan Airlines Co Ltd, (2), (3) | 95,864 | ||||
Auto Components – 1.6% | ||||||
728 | Cie Generale des Etablissements Michelin SCA, (2) | 105,342 | ||||
Automobiles – 2.4% | ||||||
2,080 | Toyota Motor Corp, (2), (3) | 155,634 | ||||
Banks – 10.2% | ||||||
11,745 | Bank Leumi Le-Israel BM, (2), (3) | 82,447 | ||||
25,000 | Barclays PLC, (2) | 60,524 | ||||
18,750 | BOC Hong Kong Holdings Ltd, (2) | 65,930 | ||||
5,230 | DBS Group Holdings Ltd, (2) | 117,210 | ||||
2,413 | Erste Group Bank AG, (2) | 85,763 | ||||
6,500 | ING Groep NV, (2) | 83,037 | ||||
1,050 | KBC Group NV, (2) | 81,468 | ||||
1,010 | Royal Bank of Canada | 96,394 | ||||
Total Banks | 672,773 | |||||
Beverages – 3.6% | ||||||
2,717 | Coca-Cola HBC AG, (2) | 93,905 | ||||
3,845 | Kirin Holdings Co Ltd, (2) | 72,206 | ||||
9,270 | Treasury Wine Estates Ltd, (2) | 71,639 | ||||
Total Beverages | 237,750 | |||||
Building Products – 2.9% | ||||||
2,775 | AGC Inc/Japan, (2) | 126,538 | ||||
683 | Kingspan Group PLC, (2) | 60,749 | ||||
Total Building Products | 187,287 | |||||
Capital Markets – 3.2% | ||||||
5,798 | 3i Group PLC, (2) | 102,693 |
32
Shares | Description (1) | Value | ||||
Capital Markets (continued) | ||||||
861 | Macquarie Group Ltd, (2) | $106,129 | ||||
Total Capital Markets | 208,822 | |||||
Chemicals – 2.6% | ||||||
345 | Sika AG, (2) | 103,039 | ||||
3,750 | Tosoh Corp, (2) | 66,468 | ||||
Total Chemicals | 169,507 | |||||
Commercial Services & Supplies – 2.4% | ||||||
7,983 | Brambles Ltd, (2) | 63,951 | ||||
1,120 | Secom Co Ltd, (2) | 93,335 | ||||
Total Commercial Services & Supplies | 157,286 | |||||
Construction & Engineering – 3.3% | ||||||
3,017 | ACS Actividades de Construccion y Servicios SA, (2) | 98,296 | ||||
1,105 | Eiffage SA, (2) | 121,039 | ||||
Total Construction & Engineering | 219,335 | |||||
Construction Materials – 1.3% | ||||||
1,392 | LafargeHolcim Ltd, (2) | 85,897 | ||||
Diversified Telecommunication Services – 1.6% | ||||||
1,911 | Cellnex Telecom SA,144A, (2) | 108,094 | ||||
Equity Real Estate Investment Trust – 3.9% | ||||||
1,838 | Canadian Apartment Properties REIT | 81,706 | ||||
5,035 | Goodman Group, (2) | 73,423 | ||||
6,414 | UNITE Group PLC | 103,196 | ||||
Total Equity Real Estate Investment Trust | 258,325 | |||||
Food & Staples Retailing – 2.5% | ||||||
2,988 | Alimentation Couche-Tard Inc | 101,249 | ||||
180 | Zur Rose Group AG, (2), (3) | 59,906 | ||||
Total Food & Staples Retailing | 161,155 | |||||
Food Products – 1.1% | ||||||
593 | Nestle SA, (2) | 70,705 | ||||
Gas Utilities – 1.1% | ||||||
13,245 | Snam SpA, (2) | 74,530 | ||||
Health Care Equipment & Supplies – 7.4% | ||||||
369 | Coloplast A/S, (2) | 61,121 | ||||
982 | GN Store Nord AS, (2) | 88,564 | ||||
907 | Hoya Corp, (2), (3) | 103,094 | ||||
1,100 | Koninklijke Philips NV, (2) | 62,198 | ||||
3,048 | Smith & Nephew PLC, (2) | 65,970 |
33
Nuveen Winslow International Large Cap Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Shares | Description (1) | Value | ||||
Health Care Equipment & Supplies (continued) | ||||||
75 | Straumann Holding AG, (2) | $107,188 | ||||
Total Health Care Equipment & Supplies | 488,135 | |||||
Hotels, Restaurants & Leisure – 1.6% | ||||||
3,573 | Aristocrat Leisure Ltd, (2) | 101,910 | ||||
Insurance – 8.0% | ||||||
304 | Allianz SE, (2) | 78,923 | ||||
3,169 | AXA SA, (2) | 89,508 | ||||
322 | Hannover Rueck SE, (2) | 59,461 | ||||
6,779 | Poste Italiane SpA,144A, (2) | 88,745 | ||||
3,000 | Prudential PLC, (2) | 63,523 | ||||
169 | Swiss Life Holding AG, (2) | 82,342 | ||||
146 | Zurich Insurance Group AG, (2) | 59,898 | ||||
Total Insurance | 522,400 | |||||
IT Services – 5.1% | ||||||
55 | Adyen NV,144A, (2), (3) | 135,360 | ||||
986 | CGI Inc, (3) | 87,237 | ||||
4,605 | TIS Inc, (2) | 114,251 | ||||
Total IT Services | 336,848 | |||||
Leisure Products – 1.4% | ||||||
1,255 | Bandai Namco Holdings Inc, (2) | 92,093 | ||||
Life Sciences Tools & Services – 1.0% | ||||||
107 | Lonza Group AG, (2), (3) | 68,021 | ||||
Machinery – 1.6% | ||||||
1,080 | KION Group AG, (2) | 107,619 | ||||
Metals & Mining – 2.2% | ||||||
4,033 | BHP Group Ltd, (2) | 146,785 | ||||
Multiline Retail – 1.3% | ||||||
4,060 | Pan Pacific International Holdings Corp, (2) | 87,515 | ||||
Multi-Utilities – 2.2% | ||||||
4,447 | Engie SA, (2) | 66,240 | ||||
2,113 | RWE AG, (2) | 80,234 | ||||
Total Multi-Utilities | 146,474 | |||||
Oil, Gas & Consumable Fuels – 2.9% | ||||||
13,231 | BP PLC, (2) | 55,390 | ||||
1,178 | Neste Oyj, (2) | 71,234 |
34
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels (continued) | ||||||
1,900 | Parkland Corp/Canada | $61,028 | ||||
Total Oil, Gas & Consumable Fuels | 187,652 | |||||
Personal Products – 1.2% | ||||||
1,398 | Unilever PLC, (2) | 81,891 | ||||
Pharmaceuticals – 4.1% | ||||||
660 | AstraZeneca PLC, (2) | 70,253 | ||||
1,325 | Dechra Pharmaceuticals PLC | 73,818 | ||||
879 | Novo Nordisk A/S, (2) | 64,841 | ||||
192 | Roche Holding AG, (2) | 62,622 | ||||
Total Pharmaceuticals | 271,534 | |||||
Professional Services – 1.2% | ||||||
851 | Wolters Kluwer NV, (2) | 76,974 | ||||
Semiconductors & Semiconductor Equipment – 5.5% | ||||||
234 | ASM International NV, (2) | 70,990 | ||||
253 | ASML Holding NV, (2) | 164,233 | ||||
280 | Tokyo Electron Ltd, (2) | 127,173 | ||||
Total Semiconductors & Semiconductor Equipment | 362,396 | |||||
Software – 2.9% | ||||||
82 | Constellation Software Inc/Canada | 120,345 | ||||
281 | Nice Ltd, (2), (3) | 67,767 | ||||
Total Software | 188,112 | |||||
Textiles, Apparel & Luxury Goods – 1.3% | ||||||
276 | adidas AG, (2) | 85,246 | ||||
Total Long-Term Investments (cost $5,002,491) | 6,561,730 | |||||
Other Assets Less Liabilities – 0.2% | 12,900 | |||||
Net Assets – 100% | $6,574,630 |
35
Nuveen Winslow International Large Cap Fund (continued)
Portfolio of Investments April 30, 2021
(Unaudited)
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Common Stocks | $724,973 | $5,836,757 | $ — | $6,561,730 |
(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. | |
REIT | Real Estate Investment Trust |
36