Schedule of Investments (unaudited)
LORD ABBETT MID CAP STOCK FUND, INC. September 30, 2020
Investments | | Shares | | | Fair Value (000) | |
COMMON STOCKS 99.59% | | | | | | | | |
| | | | | | | | |
Aerospace & Defense 1.33% | | | | | | | | |
| | | | | | | | |
Hexcel Corp. | | | 439,276 | | | $ | 14,738 | |
| | | | | | | | |
Airlines 1.17% | | | | | | | | |
| | | | | | | | |
Delta Air Lines, Inc. | | | 425,310 | | | | 13,006 | |
| | | | | | | | |
Auto Components 1.66% | | | | | | | | |
| | | | | | | | |
Lear Corp. | | | 169,200 | | | | 18,451 | |
| | | | | | | | |
Banks 5.17% | | | | | | | | |
| | | | | | | | |
CIT Group, Inc. | | | 423,984 | | | | 7,509 | |
Citizens Financial Group, Inc. | | | 557,000 | | | | 14,081 | |
East West Bancorp, Inc. | | | 461,300 | | | | 15,103 | |
Sterling Bancorp | | | 735,036 | | | | 7,732 | |
SVB Financial Group* | | | 53,799 | | | | 12,945 | |
Total | | | | | | | 57,370 | |
| | | | | | | | |
Beverages 1.25% | | | | | | | | |
| | | | | | | | |
Carlsberg A/S Class B(a) | | DKK | 103,240 | | | | 13,909 | |
| | | | | | | | |
Biotechnology 0.77% | | | | | | | | |
| | | | | | | | |
Exelixis, Inc.* | | | 350,000 | | | | 8,558 | |
| | | | | | | | |
Building Products 3.30% | | | | | | | | |
| | | | | | | | |
A.O. Smith Corp. | | | 331,554 | | | | 17,506 | |
Masco Corp. | | | 346,943 | | | | 19,127 | |
Total | | | | | | | 36,633 | |
| | | | | | | | |
Capital Markets 4.22% | | | | | | | | |
| | | | | | | | |
Ameriprise Financial, Inc. | | | 128,526 | | | | 19,807 | |
Apollo Global Management, Inc. | | | 286,219 | | | | 12,808 | |
Ares Capital Corp. | | | 1,023,054 | | | | 14,272 | |
Total | | | | | | | 46,887 | |
See Notes to Schedule of Investments.
Schedule of Investments (unaudited)(continued)
LORD ABBETT MID CAP STOCK FUND, INC. September 30, 2020
Investments | | Shares | | | Fair Value (000) | |
Chemicals 3.80% | | | | | | | | |
| | | | | | | | |
Axalta Coating Systems Ltd.* | | | 369,931 | | | $ | 8,201 | |
Corteva, Inc. | | | 623,036 | | | | 17,950 | |
Valvoline, Inc. | | | 842,700 | | | | 16,045 | |
Total | | | | | | | 42,196 | |
| | | | | | | | |
Communications Equipment 1.12% | | | | | | | | |
| | | | | | | | |
F5 Networks, Inc.* | | | 101,656 | | | | 12,480 | |
| | | | | | | | |
Construction & Engineering 1.43% | | | | | | | | |
| | | | | | | | |
EMCOR Group, Inc. | | | 233,983 | | | | 15,843 | |
| | | | | | | | |
Consumer Finance 1.84% | | | | | | | | |
| | | | | | | | |
Discover Financial Services | | | 353,900 | | | | 20,448 | |
| | | | | | | | |
Containers & Packaging 1.77% | | | | | | | | |
| | | | | | | | |
Avery Dennison Corp. | | | 153,800 | | | | 19,662 | |
| | | | | | | | |
Electric: Utilities 7.14% | | | | | | | | |
| | | | | | | | |
Edison International | | | 358,014 | | | | 18,201 | |
Entergy Corp. | | | 182,183 | | | | 17,951 | |
Evergy, Inc. | | | 291,230 | | | | 14,800 | |
FirstEnergy Corp. | | | 391,577 | | | | 11,242 | |
Pinnacle West Capital Corp. | | | 229,413 | | | | 17,103 | |
Total | | | | | | | 79,297 | |
| | | | | | | | |
Electrical Equipment 4.43% | | | | | | | | |
| | | | | | | | |
Acuity Brands, Inc. | | | 153,259 | | | | 15,686 | |
Hubbell, Inc. | | | 121,203 | | | | 16,585 | |
Rockwell Automation, Inc. | | | 76,417 | | | | 16,864 | |
Total | | | | | | | 49,135 | |
| | | | | | | | |
Electronic Equipment, Instruments & Components 1.24% | | | | | | | | |
| | | | | | | | |
Avnet, Inc. | | | 532,076 | | | | 13,749 | |
| | | | | | | | |
Energy Equipment & Services 0.50% | | | | | | | | |
| | | | | | | | |
National Oilwell Varco, Inc. | | | 610,700 | | | | 5,533 | |
See Notes to Schedule of Investments.
Schedule of Investments (unaudited)(continued)
LORD ABBETT MID CAP STOCK FUND, INC. September 30, 2020
Investments | | Shares | | | Fair Value (000) | |
Equity Real Estate Investment Trusts 9.24% | | | | | | | | |
| | | | | | | | |
Alexandria Real Estate Equities, Inc. | | | 118,118 | | | $ | 18,899 | |
Camden Property Trust | | | 195,808 | | | | 17,423 | |
Duke Realty Corp. | | | 454,831 | | | | 16,783 | |
Healthcare Trust of America, Inc. Class A | | | 604,559 | | | | 15,719 | |
Highwoods Properties, Inc. | | | 427,310 | | | | 14,345 | |
Host Hotels & Resorts, Inc. | | | 674,200 | | | | 7,275 | |
Weingarten Realty Investors | | | 714,824 | | | | 12,123 | |
Total | | | | | | | 102,567 | |
| | | | | | | | |
Food Products 1.42% | | | | | | | | |
| | | | | | | | |
General Mills, Inc. | | | 42,514 | | | | 2,622 | |
J.M. Smucker Co. (The) | | | 113,574 | | | | 13,120 | |
Total | | | | | | | 15,742 | |
| | | | | | | | |
Health Care Equipment & Supplies 2.89% | | | | | | | | |
| | | | | | | | |
Alcon, Inc. (Switzerland)*(b) | | | 292,167 | | | | 16,639 | |
NuVasive, Inc.* | | | 318,706 | | | | 15,479 | |
Total | | | | | | | 32,118 | |
| | | | | | | | |
Health Care Providers & Services 2.91% | | | | | | | | |
| | | | | | | | |
AmerisourceBergen Corp. | | | 156,400 | | | | 15,158 | |
Quest Diagnostics, Inc. | | | 150,000 | | | | 17,174 | |
Total | | | | | | | 32,332 | |
| | | | | | | | |
Hotels, Restaurants & Leisure 2.43% | | | | | | | | |
| | | | | | | | |
Caesars Entertainment, Inc.* | | | 189,098 | | | | 10,601 | |
Choice Hotels International, Inc. | | | 92,400 | | | | 7,943 | |
Domino’s Pizza, Inc. | | | 19,711 | | | | 8,382 | |
Total | | | | | | | 26,926 | |
| | | | | | | | |
Household Durables 1.53% | | | | | | | | |
| | | | | | | | |
Leggett & Platt, Inc. | | | 413,498 | | | | 17,024 | |
| | | | | | | | |
Household Products 1.83% | | | | | | | | |
| | | | | | | | |
Reynolds Consumer Products, Inc. | | | 282,600 | | | | 8,653 | |
Spectrum Brands Holdings, Inc. | | | 203,700 | | | | 11,644 | |
Total | | | | | | | 20,297 | |
See Notes to Schedule of Investments.
Schedule of Investments (unaudited)(continued)
LORD ABBETT MID CAP STOCK FUND, INC. September 30, 2020
Investments | | Shares | | | Fair Value (000) | |
Information Technology Services 1.55% | | | | | | | | |
| | | | | | | | |
Euronet Worldwide, Inc.* | | | 188,900 | | | $ | 17,209 | |
| | | | | | | | |
Insurance 5.67% | | | | | | | | |
| | | | | | | | |
Everest Re Group Ltd. | | | 81,000 | | | | 16,001 | |
Fidelity National Financial, Inc. | | | 515,385 | | | | 16,137 | |
Globe Life, Inc. | | | 173,200 | | | | 13,838 | |
Hartford Financial Services Group, Inc. (The) | | | 460,292 | | | | 16,966 | |
Total | | | | | | | 62,942 | |
| | | | | | | | |
Internet & Direct Marketing Retail 1.71% | | | | | | | | |
| | | | | | | | |
eBay, Inc. | | | 365,499 | | | | 19,043 | |
| | | | | | | | |
Leisure Products 1.64% | | | | | | | | |
| | | | | | | | |
Brunswick Corp. | | | 308,868 | | | | 18,195 | |
| | | | | | | | |
Life Sciences Tools & Services 1.43% | | | | | | | | |
| | | | | | | | |
Waters Corp.* | | | 80,900 | | | | 15,831 | |
| | | | | | | | |
Machinery 3.35% | | | | | | | | |
| | | | | | | | |
Cummins, Inc. | | | 98,705 | | | | 20,843 | |
Westinghouse Air Brake Technologies Corp. | | | 265,054 | | | | 16,401 | |
Total | | | | | | | 37,244 | |
| | | | | | | | |
Media 3.26% | | | | | | | | |
| | | | | | | | |
Fox Corp. Class A | | | 521,400 | | | | 14,511 | |
Nexstar Media Group, Inc. Class A | | | 93,888 | | | | 8,443 | |
Omnicom Group, Inc. | | | 266,500 | | | | 13,192 | |
Total | | | | | | | 36,146 | |
| | | | | | | | |
Metals & Mining 1.46% | | | | | | | | |
| | | | | | | | |
Lundin Mining Corp.(a) | | CAD | 2,903,143 | | | | 16,199 | |
| | | | | | | | |
Multi-Utilities 1.66% | | | | | | | | |
| | | | | | | | |
CMS Energy Corp. | | | 300,706 | | | | 18,466 | |
| | | | | | | | |
Oil, Gas & Consumable Fuels 3.19% | | | | | | | | |
| | | | | | | | |
Cabot Oil & Gas Corp. | | | 635,930 | | | | 11,040 | |
Marathon Petroleum Corp. | | | 257,996 | | | | 7,570 | |
ONEOK, Inc. | | | 282,185 | | | | 7,331 | |
See Notes to Schedule of Investments.
Schedule of Investments (unaudited)(continued)
LORD ABBETT MID CAP STOCK FUND, INC. September 30, 2020
Investments | | Shares | | | Fair Value (000) | |
Oil, Gas & Consumable Fuels (continued) | | | | | | | | |
| | | | | | | | |
Parsley Energy, Inc. Class A | | | 1,012,647 | | | $ | 9,478 | |
Total | | | | | | | 35,419 | |
| | | | | | | | |
Road & Rail 1.55% | | | | | | | | |
| | | | | | | | |
Landstar System, Inc. | | | 137,105 | | | | 17,205 | |
| | | | | | | | |
Semiconductors & Semiconductor Equipment 3.22% | | | | | | | | |
| | | | | | | | |
Teradyne, Inc. | | | 221,616 | | | | 17,610 | |
Xilinx, Inc. | | | 174,530 | | | | 18,193 | |
Total | | | | | | | 35,803 | |
| | | | | | | | |
Software 1.55% | | | | | | | | |
| | | | | | | | |
Synopsys, Inc.* | | | 80,278 | | | | 17,178 | |
| | | | | | | | |
Specialty Retail 1.57% | | | | | | | | |
| | | | | | | | |
Ross Stores, Inc. | | | 187,367 | | | | 17,485 | |
| | | | | | | | |
Technology Hardware, Storage & Peripherals 0.99% | | | | | | | | |
| | | | | | | | |
NetApp, Inc. | | | 251,505 | | | | 11,026 | |
| | | | | | | | |
Textiles, Apparel & Luxury Goods 1.40% | | | | | | | | |
| | | | | | | | |
Columbia Sportswear Co. | | | 179,100 | | | | 15,578 | |
Total Common Stocks (cost $1,166,751,452) | | | | | | | 1,105,870 | |
| | | | | | | | |
| | Principal Amount (000) | | | | | |
SHORT-TERM INVESTMENT 0.41% | | | | | | | | |
| | | | | | | | |
Repurchase Agreement | | | | | | | | |
| | | | | | | | |
Repurchase Agreement dated 9/30/2020, 0.00% due 10/1/2020 with Fixed Income Clearing Corp. collateralized by $4,633,400 of U.S. Treasury Note at 0.125% due 5/31/2022; value: $4,634,427; proceeds: $4,543,488 (cost $4,543,488) | | $ | 4,544 | | | | 4,544 | |
Total Investments in Securities 100.00% (cost $1,171,294,940) | | | | | | | 1,110,414 | |
Cash, Foreign Cash and Other Assets in Excess Liabilities 0.00% | | | | | | | 36 | |
Net Assets 100.00% | | | | | | $ | 1,110,450 | |
See Notes to Schedule of Investments.
Schedule of Investments (unaudited)(concluded)
LORD ABBETT MID CAP STOCK FUND, INC. September 30, 2020
CAD | Canadian dollar. |
DKK | Danish Krone. |
| |
* | Non-income producing security. |
(a) | Investment in non-U.S. dollar denominated securities. |
(b) | Foreign security traded in U.S. dollars. |
The following is a summary of the inputs used as of September 30, 2020 in valuing the Fund’s investments carried at fair value(1):
Investment Type(2) | | Level 1 (000) | | | Level 2 (000) | | | Level 3 (000) | | | Total (000) | |
Common Stocks | | | | | | | | | | | | | | | | |
Beverages | | $ | — | | | $ | 13,909 | | | $ | — | | | $ | 13,909 | |
Remaining Industries | | | 1,091,961 | | | | — | | | | — | | | | 1,091,961 | |
Short-Term Investment | | | | | | | | | | | | | | | | |
Repurchase Agreement | | | — | | | | 4,544 | | | | — | | | | 4,544 | |
Total | | $ | 1,091,961 | | | $ | 18,453 | | | $ | — | | | $ | 1,110,414 | |
(1) | Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs. |
(2) | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. |
See Notes to Schedule of Investments.
1. ORGANIZATION
Lord Abbett Mid Cap Stock Fund, Inc. (the “Fund”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a diversified, open-end management investment company and was incorporated under Maryland law on March 14, 1983.
2. SIGNIFICANT ACCOUNTING POLICIES
| (a) | Investment Valuation-Under procedures approved by the Fund’s Board of Directors (the “Board”), Lord, Abbett & Co. LLC (“Lord Abbett”), the Fund’s investment manager, has formed a Pricing Committee to administer the pricing and valuation of portfolio investments and to ensure that prices utilized reasonably reflect fair value. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value. |
| | Securities actively traded on any recognized U.S. or non-U.S. exchange or on The NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. The Fund may utilize an independent fair valuation service in adjusting the valuations of foreign securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and asked prices. |
| | Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof regularly reviews fair value determinations made by the Pricing Committee and may employ techniques such as reviewing related market activity, reviewing inputs and assumptions, and retrospectively comparing prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee. |
| | Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. |
| (b) | Fair Value Measurements-Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy 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. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. 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 the reporting entity’s own 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 three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below: |
| · | Level 1 - | unadjusted quoted prices in active markets for identical investments; |
| · | Level 2 - | other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and |
| · | Level 3 - | significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). |
| |
| A summary of inputs used in valuing the Fund’s investments as of September 30, 2020 and, if applicable, Level 3 rollforwards for the period then ended is included in the Fund’s Schedule of Investments. |
| | Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. |
3. FEDERAL TAX INFORMATION
It is the policy of the Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.
The Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Fund’s filed U.S. federal tax returns remains open generally three years after the filing of the tax return. The statutes of limitations on the Fund’s, state and local tax returns may remain open for an additional year depending upon the jurisdiction.