UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-05309
Nuveen Investment Funds, Inc.
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Christopher M. Rohrbacher
Vice President and Secretary
333 West Wacker Drive, Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: October 31
Date of reporting period: April 30, 2020
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss.3507.
Item 1. Reports to Stockholders.
Fund Name | Class A | Class C | Class R3 | Class R6 | Class I |
Nuveen Dividend Value Fund | FFEIX | FFECX | FEISX | FFEFX | FAQIX |
Nuveen Mid Cap Value Fund | FASEX | FACSX | FMVSX | FMVQX | FSEIX |
Nuveen Small Cap Value Fund | FSCAX | FSCVX | FSVSX | FSCWX | FSCCX |
Total Retuns as of April 30, 2020* | |||||||
Cumulative | Average Annual | ||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Expense Ratios | ||
Class A Shares at NAV | 12/18/92 | (17.01)% | (14.35)% | 3.09% | 7.67% | 1.11% | |
Class A Shares at maximum Offering Price | 12/18/92 | (21.80)% | (19.29)% | 1.87% | 7.04% | - | |
Russell 1000® Value Index | - | (13.66)% | (11.01)% | 3.90% | 8.54% | - | |
S&P 500® Index | - | (3.16)% | 0.86% | 9.12% | 11.69% | - | |
Lipper Equity Income Funds Classification Average | - | (12.10)% | (9.35)% | 4.19% | 8.25% | - | |
Class C Shares | 2/01/99 | (17.36)% | (14.99)% | 2.32% | 6.87% | 1.86% | |
Class R3 Shares | 9/24/01 | (17.15)% | (14.59)% | 2.82% | 7.41% | 1.36% | |
Class I Shares | 8/02/94 | (16.98)% | (14.13)% | 3.34% | 7.94% | 0.86% |
Total Returns as of April 30, 2020* | |||||||
Cumulative | Average Annual | ||||||
Inception date | 6-Month | 1-Year | 5-Year | Since Inception | Expense Ratios | ||
Class R6 Shares | 2/28/13 | (16.85)% | (13.96)% | 3.48% | 6.84% | 0.72% |
Total Returns as of April 30, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 12/22/87 | (19.74)% | (17.12)% | 2.08% | 6.47% | 1.27% | 1.17% | ||
Class A Shares at maximum Offering Price | 12/22/87 | (24.36)% | (21.89)% | 0.87% | 5.85% | - | - | ||
Russell Midcap® Value Index | - | (18.11)% | (16.74)% | 1.99% | 8.09% | - | - | ||
Lipper Mid-Cap Core Funds Classification Average | - | (15.08)% | (13.87)% | 1.76% | 7.24% | - | - | ||
Class C Shares | 2/01/99 | (20.05)% | (17.75)% | 1.31% | 5.68% | 2.02% | 1.92% | ||
Class R3 Shares | 9/24/01 | (19.83)% | (17.31)% | 1.82% | 6.21% | 1.52% | 1.42% | ||
Class I Shares | 2/04/94 | (19.64)% | (16.90)% | 2.33% | 6.74% | 1.02% | 0.92% |
Total Returns as of April 30, 2020* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/20/18 | (19.58)% | (16.79)% | (10.61)% | 0.87% | 0.77% |
Total Returns as of April 30, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 8/01/94 | (28.60)% | (31.35)% | (2.45)% | 5.19% | 1.28% | 1.20% | ||
Class A Shares at maximum Offering Price | 8/01/94 | (32.70)% | (35.31)% | (3.60)% | 4.57% | - | - | ||
Russell 2000® Value Index | - | (23.44)% | (23.84)% | 0.30% | 5.30% | - | - | ||
Lipper Small-Cap Value Funds Classification Average | - | (24.08)% | (25.66)% | (1.54)% | 4.69% | - | - | ||
Class C Shares | 2/01/99 | (28.92)% | (31.89)% | (3.18)% | 4.39% | 2.03% | 1.95% | ||
Class R3 Shares | 9/24/01 | (28.72)% | (31.53)% | (2.70)% | 4.92% | 1.53% | 1.45% | ||
Class I Shares | 8/01/94 | (28.53)% | (31.19)% | (2.21)% | 5.43% | 1.03% | 0.95% |
Total Returns as of April 30, 2020* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/30/16 | (28.46)% | (31.06)% | (4.25)% | 0.83% | 0.75% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.7% |
Money Market Funds | 2.1% |
Other Assets Less Liabilities | (1.8)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Health Care Providers & Services | 10.1% |
Semiconductors & Semiconductor Equipment | 9.5% |
Electric Utilities | 8.0% |
Diversified Telecommunication Services | 8.0% |
Insurance | 5.4% |
Capital Markets | 5.2% |
Consumer Finance | 4.4% |
Banks | 4.2% |
Pharmaceuticals | 4.1% |
Mortgage Real Estate Investment Trust | 3.3% |
Equity Real Estate Investment Trust | 3.2% |
Tobacco | 3.2% |
Multi-Utilities | 2.8% |
IT Services | 2.8% |
Multiline Retail | 2.6% |
Biotechnology | 2.4% |
Aerospace & Defense | 2.3% |
Other | 18.2% |
Money Market Funds | 2.1% |
Other Assets Less Liabilities | (1.8)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Intel Corp | 4.8% |
Verizon Communications Inc | 4.2% |
AT&T Inc | 3.8% |
Philip Morris International Inc | 3.2% |
Dominion Energy Inc | 2.8% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.3% |
Investments Purchased with Collateral from Securities Lending | 0.2% |
Money Market Funds | 1.4% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Equity Real Estate Investment Trust | 11.5% |
Electric Utilities | 6.3% |
Banks | 5.3% |
Multi-Utilities | 5.2% |
Household Durables | 5.0% |
Insurance | 4.6% |
Capital Markets | 4.2% |
Oil, Gas & Consumable Fuels | 3.7% |
Chemicals | 3.6% |
Health Care Equipment & Supplies | 3.0% |
IT Services | 2.6% |
Machinery | 2.4% |
Mortgage Real Estate Investment Trust | 2.3% |
Electrical Equipment | 2.3% |
Semiconductors & Semiconductor Equipment | 2.2% |
Communications Equipment | 2.2% |
Health Care Providers & Services | 2.0% |
Diversified Financial Services | 1.9% |
Aerospace & Defense | 1.9% |
Biotechnology | 1.9% |
Leisure Products | 1.8% |
Food Products | 1.8% |
Electronic Equipment, Instruments & Components | 1.8% |
Other | 18.8% |
Investments Purchased with Collateral from Securities Lending | 0.2% |
Money Market Funds | 1.4% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
FirstEnergy Corp | 2.5% |
Marvell Technology Group Ltd | 2.2% |
Zimmer Biomet Holdings Inc | 2.2% |
First Industrial Realty Trust Inc | 2.1% |
Entergy Corp | 2.0% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.6% |
Investments Purchased with Collateral from Securities Lending | 0.0% |
Money Market Funds | 0.3% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 16.4% |
Equity Real Estate Investment Trust | 9.7% |
Insurance | 5.0% |
Semiconductors & Semiconductor Equipment | 4.2% |
Thrifts & Mortgage Finance | 4.1% |
Electronic Equipment, Instruments & Components | 3.5% |
Gas Utilities | 3.3% |
Oil, Gas & Consumable Fuels | 3.0% |
Household Durables | 2.9% |
Software | 2.9% |
Capital Markets | 2.9% |
Communications Equipment | 2.6% |
Construction & Engineering | 2.5% |
Professional Services | 2.5% |
Auto Components | 2.4% |
Metals & Mining | 2.0% |
Building Products | 1.9% |
Commercial Services & Supplies | 1.9% |
Specialty Retail | 1.9% |
Multi-Utilities | 1.8% |
Food Products | 1.7% |
Air Freight & Logistics | 1.6% |
Other | 18.9% |
Investments Purchased with Collateral from Securities Lending | 0.0% |
Money Market Funds | 0.3% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Radware Ltd | 2.0% |
Banner Corp | 1.9% |
Gibraltar Industries Inc | 1.9% |
Cathay General Bancorp | 1.9% |
J2 Global Inc | 1.8% |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $ 829.90 | $ 826.38 | $ 828.55 | $ 831.51 | $ 830.17 |
Expenses Incurred During the Period | $ 4.96 | $ 8.36 | $ 6.09 | $ 3.14 | $ 3.82 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.44 | $1,015.71 | $1,018.20 | $1,021.43 | $1,020.69 |
Expenses Incurred During the Period | $ 5.47 | $ 9.22 | $ 6.72 | $ 3.47 | $ 4.22 |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $ 802.59 | $ 799.47 | $ 801.69 | $ 804.16 | $ 803.58 |
Expenses Incurred During the Period | $ 5.24 | $ 8.59 | $ 6.36 | $ 3.45 | $ 4.13 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.05 | $1,015.32 | $1,017.80 | $1,021.03 | $1,020.29 |
Expenses Incurred During the Period | $ 5.87 | $ 9.62 | $ 7.12 | $ 3.87 | $ 4.62 |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $ 713.99 | $ 710.75 | $ 712.77 | $ 715.39 | $ 714.70 |
Expenses Incurred During the Period | $ 5.11 | $ 8.29 | $ 6.17 | $ 3.24 | $ 4.05 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,018.90 | $1,015.17 | $1,017.65 | $1,021.08 | $1,020.14 |
Expenses Incurred During the Period | $ 6.02 | $ 9.77 | $ 7.27 | $ 3.82 | $ 4.77 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.7% | ||||||
COMMON STOCKS – 99.7% | ||||||
Aerospace & Defense – 2.3% | ||||||
216,116 | L3Harris Technologies Inc | $ 41,861,669 | ||||
Banks – 4.2% | ||||||
988,732 | Citigroup Inc | 48,012,826 | ||||
1,272,761 | KeyCorp | 14,827,666 | ||||
399,084 | TCF Financial Corp | 11,848,804 | ||||
Total Banks | 74,689,296 | |||||
Beverages – 2.2% | ||||||
1,501,545 | Keurig Dr Pepper Inc | 39,730,881 | ||||
Biotechnology – 2.4% | ||||||
514,976 | AbbVie Inc | 42,331,027 | ||||
Capital Markets – 5.2% | ||||||
728,378 | Bank of New York Mellon Corp | 27,343,310 | ||||
552,814 | Charles Schwab Corp | 20,852,144 | ||||
1,126,348 | Morgan Stanley | 44,411,902 | ||||
Total Capital Markets | 92,607,356 | |||||
Chemicals – 1.0% | ||||||
659,079 | CF Industries Holdings Inc | 18,124,673 | ||||
Communications Equipment – 1.3% | ||||||
164,010 | Motorola Solutions Inc | 23,586,278 | ||||
Consumer Finance – 4.4% | ||||||
344,704 | American Express Co | 31,454,240 | ||||
417,187 | Capital One Financial Corp | 27,017,030 | ||||
476,470 | Discover Financial Services | 20,473,916 | ||||
Total Consumer Finance | 78,945,186 | |||||
Diversified Financial Services – 1.0% | ||||||
402,096 | Voya Financial Inc | 18,162,676 | ||||
Diversified Telecommunication Services – 8.0% | ||||||
2,234,807 | AT&T Inc | 68,094,569 | ||||
1,311,212 | Verizon Communications Inc | 75,329,130 | ||||
Total Diversified Telecommunication Services | 143,423,699 | |||||
Electric Utilities – 8.0% | ||||||
223,687 | American Electric Power Co Inc | 18,590,627 |
Shares | Description (1) | Value | ||||
Electric Utilities (continued) | ||||||
187,617 | Entergy Corp | $17,919,300 | ||||
564,208 | Evergy Inc | 32,966,673 | ||||
1,146,418 | Exelon Corp | 42,509,180 | ||||
769,257 | FirstEnergy Corp | 31,747,236 | ||||
Total Electric Utilities | 143,733,016 | |||||
Electrical Equipment – 1.4% | ||||||
300,184 | Eaton Corp PLC | 25,065,364 | ||||
Equity Real Estate Investment Trust – 3.2% | ||||||
273,551 | Crown Castle International Corp | 43,612,236 | ||||
514,037 | Gaming and Leisure Properties Inc | 14,516,405 | ||||
Total Equity Real Estate Investment Trust | 58,128,641 | |||||
Food Products – 2.1% | ||||||
619,339 | Tyson Foods Inc | 38,516,692 | ||||
Health Care Providers & Services – 10.1% | ||||||
156,324 | Anthem Inc | 43,884,837 | ||||
215,178 | Cigna Corp | 42,127,549 | ||||
123,699 | Humana Inc | 47,230,752 | ||||
162,822 | UnitedHealth Group Inc | 47,620,550 | ||||
Total Health Care Providers & Services | 180,863,688 | |||||
Hotels, Restaurants & Leisure – 0.8% | ||||||
553,388 | Wyndham Destinations Inc | 14,150,131 | ||||
Household Durables – 1.3% | ||||||
1,718,462 | Newell Brands Inc | 23,852,253 | ||||
Household Products – 1.1% | ||||||
286,568 | Colgate-Palmolive Co | 20,137,133 | ||||
Insurance – 5.4% | ||||||
272,324 | Allstate Corp | 27,700,797 | ||||
906,583 | Hartford Financial Services Group Inc | 34,441,088 | ||||
362,011 | Marsh & McLennan Cos Inc | 35,234,531 | ||||
Total Insurance | 97,376,416 | |||||
IT Services – 2.8% | ||||||
374,315 | Fidelity National Information Services Inc | 49,368,405 | ||||
Media – 1.1% | ||||||
538,735 | Comcast Corp | 20,272,598 | ||||
Mortgage Real Estate Investment Trust – 3.3% | ||||||
2,145,587 | AGNC Investment Corp | 26,648,191 | ||||
3,320,053 | Annaly Capital Management Inc | 20,750,331 |
Shares | Description (1) | Value | ||||
Mortgage Real Estate Investment Trust (continued) | ||||||
917,750 | Starwood Property Trust Inc | $ 11,875,685 | ||||
Total Mortgage Real Estate Investment Trust | 59,274,207 | |||||
Multiline Retail – 2.6% | ||||||
422,414 | Target Corp | 46,355,712 | ||||
Multi-Utilities – 2.8% | ||||||
663,258 | Dominion Energy Inc | 51,157,090 | ||||
Pharmaceuticals – 4.1% | ||||||
841,282 | AstraZeneca PLC, Sponsored ADR | 43,982,223 | ||||
494,134 | Bristol-Myers Squibb Co | 30,048,288 | ||||
Total Pharmaceuticals | 74,030,511 | |||||
Road & Rail – 1.5% | ||||||
201,560 | Kansas City Southern | 26,313,658 | ||||
Semiconductors & Semiconductor Equipment – 9.5% | ||||||
121,460 | Broadcom Inc | 32,990,965 | ||||
1,431,363 | Intel Corp | 85,853,153 | ||||
236,499 | NXP Semiconductors NV | 23,548,205 | ||||
519,107 | Taiwan Semiconductor Manufacturing Co Ltd, Sponsored ADR | 27,580,155 | ||||
Total Semiconductors & Semiconductor Equipment | 169,972,478 | |||||
Specialty Retail – 1.7% | ||||||
139,046 | Home Depot Inc | 30,566,482 | ||||
Technology Hardware, Storage & Peripherals – 0.8% | ||||||
965,007 | HP Inc | 14,967,259 | ||||
Tobacco – 3.2% | ||||||
774,247 | Philip Morris International Inc | 57,758,826 | ||||
Trading Companies & Distributors – 0.9% | ||||||
101,306 | Watsco Inc | 16,309,253 | ||||
Total Long-Term Investments (cost $1,929,257,986) | 1,791,632,554 |
Shares | Description (1) | Coupon | Value | |||
SHORT-TERM INVESTMENTS – 2.1% | ||||||
MONEY MARKET FUNDS – 2.1% | ||||||
37,191,047 | First American Treasury Obligation Fund, Class Z | 0.134% (2) | $ 37,191,047 | |||
Total Short-Term Investments (cost $37,191,047) | 37,191,047 | |||||
Total Investments (cost $1,966,449,033) – 101.8% | 1,828,823,601 | |||||
Other Assets Less Liabilities – (1.8)% | (31,855,678) | |||||
Net Assets – 100% | $ 1,796,967,923 |
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) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.3% | ||||||
COMMON STOCKS – 98.3% | ||||||
Aerospace & Defense – 1.9% | ||||||
26,541 | L3Harris Technologies Inc | $ 5,140,992 | ||||
Airlines – 0.6% | ||||||
50,613 | Alaska Air Group Inc, (2) | 1,645,935 | ||||
Banks – 5.3% | ||||||
98,689 | East West Bancorp Inc | 3,461,023 | ||||
139,516 | Fifth Third Bancorp | 2,607,554 | ||||
298,040 | KeyCorp | 3,472,166 | ||||
10,665 | SVB Financial Group, (2) | 2,060,158 | ||||
74,029 | Western Alliance Bancorp | 2,656,161 | ||||
Total Banks | 14,257,062 | |||||
Biotechnology – 1.9% | ||||||
46,509 | United Therapeutics Corp, (2) | 5,095,526 | ||||
Building Products – 1.2% | ||||||
36,171 | Trane Technologies PLC | 3,162,069 | ||||
Capital Markets – 4.2% | ||||||
50,922 | Evercore Inc | 2,627,575 | ||||
44,902 | Nasdaq Inc | 4,924,402 | ||||
59,030 | Raymond James Financial Inc | 3,891,258 | ||||
Total Capital Markets | 11,443,235 | |||||
Chemicals – 3.6% | ||||||
36,988 | Celanese Corp | 3,072,593 | ||||
96,409 | CF Industries Holdings Inc | 2,651,248 | ||||
229,852 | Huntsman Corp | 3,863,812 | ||||
Total Chemicals | 9,587,653 | |||||
Communications Equipment – 2.2% | ||||||
55,144 | Ciena Corp, (2) | 2,550,410 | ||||
23,724 | Motorola Solutions Inc | 3,411,748 | ||||
Total Communications Equipment | 5,962,158 | |||||
Construction Materials – 1.5% | ||||||
276,916 | Summit Materials Inc, (2) | 4,184,201 | ||||
Consumer Finance – 0.9% | ||||||
96,680 | OneMain Holdings Inc | 2,340,623 |
Shares | Description (1) | Value | ||||
Diversified Financial Services – 1.9% | ||||||
114,089 | Voya Financial Inc | $ 5,153,400 | ||||
Electric Utilities – 6.3% | ||||||
101,895 | Alliant Energy Corp | 4,947,002 | ||||
57,044 | Entergy Corp | 5,448,273 | ||||
161,396 | FirstEnergy Corp | 6,660,813 | ||||
Total Electric Utilities | 17,056,088 | |||||
Electrical Equipment – 2.3% | ||||||
42,112 | AMETEK Inc | 3,531,933 | ||||
21,072 | Hubbell Inc | 2,621,989 | ||||
Total Electrical Equipment | 6,153,922 | |||||
Electronic Equipment, Instruments & Components – 1.8% | ||||||
158,757 | Avnet Inc | 4,765,885 | ||||
Equity Real Estate Investment Trust – 11.5% | ||||||
303,036 | Brandywine Realty Trust | 3,381,882 | ||||
18,151 | Digital Realty Trust Inc | 2,713,393 | ||||
11,142 | Essex Property Trust Inc | 2,719,762 | ||||
147,904 | First Industrial Realty Trust Inc | 5,586,334 | ||||
33,132 | Mid-America Apartment Communities Inc | 3,708,133 | ||||
63,049 | Regency Centers Corp | 2,768,482 | ||||
77,040 | SL Green Realty Corp | 4,086,972 | ||||
639,937 | VEREIT Inc | 3,506,855 | ||||
112,497 | Washington Real Estate Investment Trust | 2,623,430 | ||||
Total Equity Real Estate Investment Trust | 31,095,243 | |||||
Food Products – 1.8% | ||||||
77,758 | Tyson Foods Inc | 4,835,770 | ||||
Health Care Equipment & Supplies – 3.0% | ||||||
6,701 | Teleflex Inc | 2,247,515 | ||||
48,901 | Zimmer Biomet Holdings Inc | 5,853,450 | ||||
Total Health Care Equipment & Supplies | 8,100,965 | |||||
Health Care Providers & Services – 2.0% | ||||||
81,805 | Centene Corp, (2) | 5,446,577 | ||||
Hotels, Restaurants & Leisure – 1.4% | ||||||
19,668 | Hyatt Hotels Corp | 1,106,522 | ||||
85,317 | MGM Resorts International | 1,435,885 | ||||
53,431 | Wyndham Destinations Inc | 1,366,230 | ||||
Total Hotels, Restaurants & Leisure | 3,908,637 | |||||
Household Durables – 5.0% | ||||||
111,873 | DR Horton Inc | 5,282,643 |
Shares | Description (1) | Value | ||||
Household Durables (continued) | ||||||
45,837 | Mohawk Industries Inc, (2) | $4,020,822 | ||||
302,182 | Newell Brands Inc | 4,194,286 | ||||
Total Household Durables | 13,497,751 | |||||
Household Products – 1.2% | ||||||
80,894 | Energizer Holdings Inc | 3,151,630 | ||||
Insurance – 4.6% | ||||||
195,175 | CNO Financial Group Inc | 2,744,161 | ||||
129,691 | Hartford Financial Services Group Inc | 4,926,961 | ||||
26,059 | Willis Towers Watson PLC | 4,646,059 | ||||
Total Insurance | 12,317,181 | |||||
IT Services – 2.6% | ||||||
145,220 | Perspecta Inc | 3,132,395 | ||||
19,099 | VeriSign Inc, (2) | 4,001,050 | ||||
Total IT Services | 7,133,445 | |||||
Leisure Products – 1.8% | ||||||
101,647 | Brunswick Corp/DE | 4,850,595 | ||||
Machinery – 2.4% | ||||||
63,710 | Crane Co | 3,469,009 | ||||
26,768 | Stanley Black & Decker Inc | 2,949,834 | ||||
Total Machinery | 6,418,843 | |||||
Media – 1.2% | ||||||
294,300 | TEGNA Inc | 3,154,896 | ||||
Metals & Mining – 0.9% | ||||||
100,191 | Steel Dynamics Inc | 2,431,635 | ||||
Mortgage Real Estate Investment Trust – 2.3% | ||||||
226,728 | AGNC Investment Corp | 2,815,962 | ||||
270,702 | Starwood Property Trust Inc | 3,502,884 | ||||
Total Mortgage Real Estate Investment Trust | 6,318,846 | |||||
Multiline Retail – 1.0% | ||||||
15,313 | Dollar General Corp | 2,684,369 | ||||
Multi-Utilities – 5.2% | ||||||
68,762 | Ameren Corp | 5,002,436 | ||||
166,204 | NiSource Inc | 4,173,382 | ||||
96,899 | Public Service Enterprise Group Inc | 4,913,748 | ||||
Total Multi-Utilities | 14,089,566 | |||||
Oil, Gas & Consumable Fuels – 3.7% | ||||||
56,062 | Concho Resources Inc | 3,179,837 |
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels (continued) | ||||||
251,400 | Williams Cos Inc | $4,869,618 | ||||
296,155 | WPX Energy Inc, (2) | 1,815,430 | ||||
Total Oil, Gas & Consumable Fuels | 9,864,885 | |||||
Pharmaceuticals – 1.0% | ||||||
24,907 | Jazz Pharmaceuticals PLC, (2), (3) | 2,745,997 | ||||
Real Estate Management & Development – 0.8% | ||||||
20,647 | Jones Lang LaSalle Inc | 2,179,910 | ||||
Road & Rail – 1.7% | ||||||
35,348 | Kansas City Southern | 4,614,681 | ||||
Semiconductors & Semiconductor Equipment – 2.2% | ||||||
227,152 | Marvell Technology Group Ltd | 6,074,044 | ||||
Software – 1.8% | ||||||
30,091 | Synopsys Inc, (2) | 4,727,898 | ||||
Specialty Retail – 1.2% | ||||||
43,297 | Best Buy Co Inc | 3,322,179 | ||||
Thrifts & Mortgage Finance – 1.2% | ||||||
211,913 | Radian Group Inc | 3,174,457 | ||||
Water Utilities – 1.2% | ||||||
25,761 | American Water Works Co Inc | 3,134,856 | ||||
Total Long-Term Investments (cost $280,752,555) | 265,223,605 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.2% | ||||||
MONEY MARKET FUNDS – 0.2% | ||||||
548,725 | First American Government Obligations Fund, Class X, (4) | 0.252% (5) | $ 548,725 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $548,725) | 548,725 |
Shares | Description (1) | Coupon | Value | |||
SHORT-TERM INVESTMENTS – 1.4% | ||||||
MONEY MARKET FUNDS – 1.4% | ||||||
3,741,107 | First American Treasury Obligation Fund, Class Z | 0.134% (5) | $ 3,741,107 | |||
Total Short-Term Investments (cost $3,741,107) | 3,741,107 | |||||
Total Investments (cost $285,042,387) – 99.9% | 269,513,437 | |||||
Other Assets Less Liabilities – 0.1% | 239,269 | |||||
Net Assets – 100% | $ 269,752,706 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | 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 $518,175. | |
(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. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information. | |
(5) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.6% | ||||||
COMMON STOCKS – 99.6% | ||||||
Aerospace & Defense – 1.1% | ||||||
245,085 | Parsons Corp, (2) | $ 9,166,179 | ||||
Air Freight & Logistics – 1.6% | ||||||
654,452 | Air Transport Services Group Inc, (2) | 13,246,108 | ||||
Airlines – 0.4% | ||||||
215,691 | Spirit Airlines Inc, (2), (3) | 3,239,679 | ||||
Auto Components – 2.4% | ||||||
363,227 | Cooper Tire & Rubber Co | 7,696,780 | ||||
1,004,668 | Dana Inc, (2) | 11,553,682 | ||||
Total Auto Components | 19,250,462 | |||||
Banks – 16.4% | ||||||
402,729 | Banner Corp | 15,476,875 | ||||
385,953 | Berkshire Hills Bancorp Inc | 6,576,639 | ||||
543,353 | Cathay General Bancorp | 15,170,416 | ||||
643,219 | First Busey Corp | 11,848,094 | ||||
375,163 | Heartland Financial USA Inc | 12,744,287 | ||||
1,460,189 | Investors Bancorp Inc | 13,594,360 | ||||
367,292 | Pinnacle Financial Partners Inc | 14,783,503 | ||||
321,952 | Preferred Bank/Los Angeles CA | 12,282,469 | ||||
427,438 | Renasant Corp | 11,211,699 | ||||
303,412 | Western Alliance Bancorp | 10,886,422 | ||||
217,471 | Wintrust Financial Corp | 9,112,035 | ||||
Total Banks | 133,686,799 | |||||
Biotechnology – 1.5% | ||||||
114,415 | United Therapeutics Corp | 12,535,307 | ||||
Building Products – 1.9% | ||||||
333,950 | Gibraltar Industries Inc, (2) | 15,461,885 | ||||
Capital Markets – 2.9% | ||||||
210,511 | Evercore Inc | 10,862,368 | ||||
230,240 | Piper Sandler Cos | 12,412,238 | ||||
Total Capital Markets | 23,274,606 | |||||
Chemicals – 1.5% | ||||||
275,765 | Minerals Technologies Inc | 12,144,691 |
Shares | Description (1) | Value | ||||
Commercial Services & Supplies – 1.9% | ||||||
96,838 | Brink's Co | $4,950,358 | ||||
479,709 | SP Plus Corp, (2) | 10,117,063 | ||||
Total Commercial Services & Supplies | 15,067,421 | |||||
Communications Equipment – 2.6% | ||||||
199,873 | NETGEAR Inc, (2) | 4,792,955 | ||||
690,455 | Radware Ltd, (2) | 16,356,879 | ||||
Total Communications Equipment | 21,149,834 | |||||
Construction & Engineering – 2.5% | ||||||
523,486 | Aegion Corp, (2) | 8,401,950 | ||||
190,719 | EMCOR Group Inc | 12,116,378 | ||||
Total Construction & Engineering | 20,518,328 | |||||
Construction Materials – 0.8% | ||||||
443,153 | Summit Materials Inc | 6,696,042 | ||||
Consumer Finance – 0.6% | ||||||
205,253 | OneMain Holdings Inc | 4,969,175 | ||||
Diversified Telecommunication Services – 1.2% | ||||||
1,122,901 | Vonage Holdings Corp, (2) | 9,387,452 | ||||
Electronic Equipment, Instruments & Components – 3.5% | ||||||
421,047 | Avnet Inc | 12,639,831 | ||||
88,575 | SYNNEX Corp, (2) | 7,755,627 | ||||
666,268 | TTM Technologies Inc, (2) | 7,722,046 | ||||
Total Electronic Equipment, Instruments & Components | 28,117,504 | |||||
Equity Real Estate Investment Trust – 9.7% | ||||||
1,032,576 | Brandywine Realty Trust | 11,523,548 | ||||
397,085 | Kite Realty Group Trust | 4,062,180 | ||||
1,364,177 | Lexington Realty Trust | 14,255,650 | ||||
754,694 | Preferred Apartment Communities Inc | 5,592,282 | ||||
609,371 | Retail Opportunity Investments Corp | 5,913,946 | ||||
742,442 | RLJ Lodging Trust | 6,897,286 | ||||
513,793 | STAG Industrial Inc | 13,487,066 | ||||
1,334,787 | Summit Hotel Properties Inc | 8,088,809 | ||||
405,455 | Washington Real Estate Investment Trust | 9,455,211 | ||||
Total Equity Real Estate Investment Trust | 79,275,978 | |||||
Food Products – 1.7% | ||||||
1,116,816 | Hostess Brands Inc, (2) | 13,424,128 | ||||
Gas Utilities – 3.3% | ||||||
79,800 | ONE Gas Inc | 6,360,858 | ||||
275,362 | South Jersey Industries Inc | 7,872,599 |
Shares | Description (1) | Value | ||||
Gas Utilities (continued) | ||||||
176,635 | Spire Inc | $ 12,887,290 | ||||
Total Gas Utilities | 27,120,747 | |||||
Health Care Equipment & Supplies – 1.1% | ||||||
356,484 | Natus Medical Inc, (2) | 8,908,535 | ||||
Health Care Providers & Services – 0.9% | ||||||
163,862 | AMN Healthcare Services Inc, (2) | 7,698,237 | ||||
Hotels, Restaurants & Leisure – 1.2% | ||||||
162,776 | Jack in the Box Inc | 9,815,393 | ||||
Household Durables – 2.9% | ||||||
546,527 | La-Z-Boy Inc | 12,816,058 | ||||
438,386 | M/I Homes Inc, (2) | 11,161,308 | ||||
Total Household Durables | 23,977,366 | |||||
Insurance – 5.0% | ||||||
153,918 | AMERISAFE Inc | 9,799,959 | ||||
193,969 | Argo Group International Holdings Ltd, (2) | 6,858,744 | ||||
557,226 | BRP Group Inc, (2) | 5,583,405 | ||||
750,402 | CNO Financial Group Inc | 10,550,652 | ||||
221,565 | Horace Mann Educators Corp | 7,790,225 | ||||
Total Insurance | 40,582,985 | |||||
IT Services – 0.5% | ||||||
188,240 | Perspecta Inc | 4,060,337 | ||||
Leisure Products – 1.2% | ||||||
199,965 | Brunswick Corp/DE | 9,542,330 | ||||
Machinery – 1.4% | ||||||
434,488 | Kennametal Inc | 11,127,238 | ||||
Media – 0.6% | ||||||
430,424 | TEGNA Inc | 4,614,145 | ||||
Metals & Mining – 2.0% | ||||||
437,657 | Allegheny Technologies Inc, (2) | 3,286,804 | ||||
153,324 | Compass Minerals International Inc | 7,537,408 | ||||
1,782,311 | SunCoke Energy Inc | 5,614,280 | ||||
Total Metals & Mining | 16,438,492 | |||||
Mortgage Real Estate Investment Trust – 1.2% | ||||||
1,230,832 | Ladder Capital Corp | 9,785,114 | ||||
Multi-Utilities – 1.8% | ||||||
241,192 | Black Hills Corp | 14,939,432 |
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels – 3.0% | ||||||
541,043 | Brigham Minerals Inc | $6,974,044 | ||||
365,420 | Delek US Holdings Inc | 8,532,557 | ||||
1,333,821 | Magnolia Oil & Gas Corp, (2) | 8,629,822 | ||||
Total Oil, Gas & Consumable Fuels | 24,136,423 | |||||
Pharmaceuticals – 1.5% | ||||||
303,552 | Prestige Consumer Healthcare Inc, (2) | 12,351,531 | ||||
Professional Services – 2.5% | ||||||
500,982 | CBIZ Inc, (2) | 11,898,322 | ||||
286,397 | Korn Ferry | 8,256,826 | ||||
Total Professional Services | 20,155,148 | |||||
Road & Rail – 0.4% | ||||||
113,223 | TFI International Inc | 3,141,938 | ||||
Semiconductors & Semiconductor Equipment – 4.2% | ||||||
171,057 | Diodes Inc, (2) | 8,705,091 | ||||
81,118 | MKS Instruments Inc | 8,130,457 | ||||
159,413 | Semtech Corp, (2) | 7,211,844 | ||||
150,786 | Synaptics Inc, (2) | 9,859,897 | ||||
Total Semiconductors & Semiconductor Equipment | 33,907,289 | |||||
Software – 2.9% | ||||||
194,191 | Alarmcom Holdings Inc, (2) | 8,686,163 | ||||
186,068 | J2 Global Inc, (2) | 15,004,524 | ||||
Total Software | 23,690,687 | |||||
Specialty Retail – 1.9% | ||||||
300,217 | Aaron's Inc | 9,579,924 | ||||
96,789 | Group 1 Automotive Inc, (2) | 5,477,290 | ||||
Total Specialty Retail | 15,057,214 | |||||
Textiles, Apparel & Luxury Goods – 0.7% | ||||||
27,952 | Culp Inc | 198,739 | ||||
514,659 | G-III Apparel Group Ltd, (2) | 5,831,086 | ||||
Total Textiles, Apparel & Luxury Goods | 6,029,825 | |||||
Thrifts & Mortgage Finance – 4.1% | ||||||
468,759 | Flagstar Bancorp Inc | 12,145,546 | ||||
844,114 | Radian Group Inc | 12,644,828 | ||||
304,540 | WSFS Financial Corp | 8,886,477 | ||||
Total Thrifts & Mortgage Finance | 33,676,851 | |||||
Water Utilities – 1.1% | ||||||
201,104 | California Water Service Group | 9,033,592 | ||||
Total Long-Term Investments (cost $966,447,323) | 810,402,427 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.0% | ||||||
MONEY MARKET FUNDS – 0.0% | ||||||
511,875 | First American Government Obligations Fund, Class X, (4) | 0.252% (5) | $ 511,875 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $511,875) | 511,875 |
Shares | Description (1) | Coupon | Value | |||
SHORT-TERM INVESTMENTS – 0.3% | ||||||
MONEY MARKET FUNDS – 0.3% | ||||||
2,318,774 | First American Treasury Obligation Fund, Class Z | 0.134% (5) | $ 2,318,774 | |||
Total Short-Term Investments (cost $2,318,774) | 2,318,774 | |||||
Total Investments (cost $969,277,972) – 99.9% | 813,233,076 | |||||
Other Assets Less Liabilities – 0.1% | 704,509 | |||||
Net Assets – 100% | $ 813,937,585 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | 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 $488,150. | |
(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. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information. | |
(5) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. |
Dividend Value | Mid Cap Value | Small Cap Value | |
Assets | |||
Long-term investments, at value (cost $1,929,257,986, $280,752,555 and $966,447,323, respectively) | $1,791,632,554 | $265,223,605 | $810,402,427 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | — | 548,725 | 511,875 |
Short-term investments, at value (cost approximates value) | 37,191,047 | 3,741,107 | 2,318,774 |
Receivable for: | |||
Dividends | 4,042,007 | 139,645 | 266,330 |
Due from affiliates | 187,493 | 28,101 | 128,542 |
Due from broker | — | 198 | 234 |
Interest | 5,682 | 616 | 189 |
Investments sold | — | 7,577,012 | 9,601,662 |
Shares sold | 119,165 | 938,506 | 2,423,064 |
Other assets | 124,594 | 56,293 | 107,672 |
Total assets | 1,833,302,542 | 278,253,808 | 825,760,769 |
Liabilities | |||
Cash overdraft | — | — | 1,581 |
Payable for: | |||
Collateral from securities lending program | — | 548,725 | 511,875 |
Interest | 46,294 | — | — |
Investments purchased - regular settlement | 21,442,941 | 7,319,074 | 2,509,089 |
Shares redeemed | 13,112,073 | 265,874 | 7,080,601 |
Accrued expenses: | |||
Directors fees | 99,454 | 12,927 | 55,411 |
Management fees | 920,588 | 117,206 | 594,639 |
Shareholder servicing agent fees | 471,710 | 166,977 | 705,189 |
12b-1 distribution and service fees | 53,182 | 14,440 | 48,720 |
Other | 188,377 | 55,879 | 316,079 |
Total liabilities | 36,334,619 | 8,501,102 | 11,823,184 |
Net assets | $1,796,967,923 | $269,752,706 | $813,937,585 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Class A Shares | |||
Net assets | $ 170,861,492 | $ 39,694,930 | $ 110,556,356 |
Shares outstanding | 15,475,057 | 1,215,039 | 7,042,949 |
Net asset value ("NAV") per share | $ 11.04 | $ 32.67 | $ 15.70 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 11.71 | $ 34.66 | $ 16.66 |
Class C Shares | |||
Net assets | $ 16,210,153 | $ 5,056,086 | $ 26,142,287 |
Shares outstanding | 1,499,082 | 164,651 | 1,978,486 |
NAV and offering price per share | $ 10.81 | $ 30.71 | $ 13.21 |
Class R3 Shares | |||
Net assets | $ 17,203,843 | $ 7,745,217 | $ 23,372,159 |
Shares outstanding | 1,566,182 | 239,158 | 1,522,664 |
NAV and offering price per share | $ 10.98 | $ 32.39 | $ 15.35 |
Class R6 Shares | |||
Net assets | $1,138,544,590 | $ 15,776,655 | $ 99,003,070 |
Shares outstanding | 100,698,235 | 480,603 | 6,067,082 |
NAV and offering price per share | $ 11.31 | $ 32.83 | $ 16.32 |
Class I Shares | |||
Net assets | $ 454,147,845 | $201,479,818 | $ 554,863,713 |
Shares outstanding | 40,535,596 | 6,149,217 | 34,144,464 |
NAV and offering price per share | $ 11.20 | $ 32.77 | $ 16.25 |
Fund level net assets consist of: | |||
Capital paid-in | $2,058,363,955 | $300,574,838 | $1,378,635,674 |
Total distributable earnings | (261,396,032) | (30,822,132) | (564,698,089) |
Fund level net assets | $1,796,967,923 | $269,752,706 | $ 813,937,585 |
Authorized shares - per class | 2 billion | 2 billion | 2 billion |
Par value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Investment Income | |||
Dividends | $ 29,997,139 | $ 3,170,674 | $ 9,977,184 |
Interest | 208,817 | 19,803 | 66,262 |
Securities lending income | 491 | 309 | 5,934 |
Payment from affiliate | 187,493 | 28,101 | 128,542 |
Foreign tax withheld on dividend income | (130,934) | — | — |
Total investment income | 30,263,006 | 3,218,887 | 10,177,922 |
Expenses | |||
Management fees | 6,167,332 | 1,236,607 | 5,233,870 |
12b-1 service fees - Class A Shares | 250,878 | 61,045 | 209,893 |
12b-1 distribution and service fees - Class C Shares | 103,194 | 33,695 | 187,894 |
12b-1 distibution and service fees - Class R3 Shares | 51,649 | 22,805 | 78,042 |
Shareholder servicing agent fees | 724,025 | 239,384 | 1,306,275 |
Custodian fees | 91,917 | 29,589 | 89,102 |
Professional fees | 29,901 | 17,931 | 40,949 |
Directors fees | 22,253 | 3,296 | 13,511 |
Shareholder reporting expenses | 51,399 | 29,909 | 176,033 |
Federal and state registration fees | 159,901 | 47,640 | 52,903 |
Other | 31,080 | 13,128 | 46,781 |
Total expenses before fee waiver/expense reimbursement | 7,683,529 | 1,735,029 | 7,435,253 |
Fee waiver/expense reimbursement | — | (188,092) | (669,170) |
Net expenses | 7,683,529 | 1,546,937 | 6,766,083 |
Net investment income (loss) | 22,579,477 | 1,671,950 | 3,411,839 |
Realized and Unrealized Gain (Loss) | |||
Net realized gain (loss) from investments and foreign currency | (122,886,916) | (11,692,009) | (205,445,452) |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | (301,372,254) | (52,279,338) | (209,857,861) |
Net realized and unrealized gain (loss) | (424,259,170) | (63,971,347) | (415,303,313) |
Net increase (decrease) in net assets from operations | $(401,679,693) | $(62,299,397) | $(411,891,474) |
Dividend Value | Mid Cap Value | Small Cap Value | ||||||
Six Months Ended 4/30/20 | Year Ended 10/31/19 | Six Months Ended 4/30/20 | Year Ended 10/31/19 | Six Months Ended 4/30/20 | Year Ended 10/31/19 | |||
Operations | ||||||||
Net investment income (loss) | $ 22,579,477 | $ 22,778,456 | $ 1,671,950 | $ 3,804,104 | $ 3,411,839 | $ 19,186,671 | ||
Net realized gain (loss) from investments and foreign currency | (122,886,916) | 136,560,082 | (11,692,009) | (4,962,182) | (205,445,452) | (195,896,872) | ||
Change in net unrealized appreciation (depreciation) of investments and foreign currency | (301,372,254) | (57,720,876) | (52,279,338) | 36,915,276 | (209,857,861) | 168,775,638 | ||
Net increase (decrease) in net assets from operations | (401,679,693) | 101,617,662 | (62,299,397) | 35,757,198 | (411,891,474) | (7,934,563) | ||
Distributions to Shareholders | ||||||||
Dividends: | ||||||||
Class A Shares | (13,840,560) | (21,478,363) | (508,084) | (2,090,136) | (1,836,890) | (9,218,363) | ||
Class C Shares | (1,397,906) | (2,571,787) | (15,371) | (269,609) | (81,329) | (2,213,805) | ||
Class R3 Shares | (1,423,416) | (2,421,158) | (67,895) | (305,976) | (244,673) | (1,486,198) | ||
Class R6 Shares | (81,552,152) | (15,749,024) | (243,451) | (150,144) | (1,601,689) | (4,532,713) | ||
Class I Shares | (42,448,579) | (59,923,827) | (2,966,388) | (7,324,416) | (13,780,598) | (59,648,995) | ||
Decrease in net assets from distributions to shareholders | (140,662,613) | (102,144,159) | (3,801,189) | (10,140,281) | (17,545,179) | (77,100,074) | ||
Fund Share Transactions | ||||||||
Proceeds from sale of shares | 1,493,091,961 | 181,700,330 | 52,923,054 | 195,139,508 | 244,639,389 | 725,770,948 | ||
Proceeds from shares issued to shareholders due to reinvestment of distributions | 134,943,908 | 89,885,116 | 3,481,369 | 9,082,541 | 14,169,324 | 61,854,103 | ||
1,628,035,869 | 271,585,446 | 56,404,423 | 204,222,049 | 258,808,713 | 787,625,051 | |||
Cost of shares redeemed | (264,823,804) | (407,594,403) | (64,077,418) | (92,882,064) | (674,452,336) | (1,386,388,541) | ||
Net increase (decrease) in net assets from Fund share transactions | 1,363,212,065 | (136,008,957) | (7,672,995) | 111,339,985 | (415,643,623) | (598,763,490) | ||
Net increase (decrease) in net assets | 820,869,759 | (136,535,454) | (73,773,581) | 136,956,902 | (845,080,276) | (683,798,127) | ||
Net assets at the beginning of period | 976,098,164 | 1,112,633,618 | 343,526,287 | 206,569,385 | 1,659,017,861 | 2,342,815,988 | ||
Net assets at the end of period | $1,796,967,923 | $ 976,098,164 | $269,752,706 | $343,526,287 | $ 813,937,585 | $ 1,659,017,861 |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended October 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (12/92) | |||||||||
2020(e) | $14.21 | $0.13 | $(2.37) | $(2.24) | $(0.12) | $(0.81) | $(0.93) | $11.04 | |
2019 | 14.32 | 0.26 | 0.96 | 1.22 | (0.28) | (1.05) | (1.33) | 14.21 | |
2018 | 15.67 | 0.25 | 0.35 | 0.60 | (0.24) | (1.71) | (1.95) | 14.32 | |
2017 | 15.12 | 0.22 | 2.72 | 2.94 | (0.22) | (2.17) | (2.39) | 15.67 | |
2016 | 15.81 | 0.25 | 0.48 | 0.73 | (0.30) | (1.12) | (1.42) | 15.12 | |
2015 | 17.44 | 0.28 | (0.44) | (0.16) | (0.34) | (1.13) | (1.47) | 15.81 | |
Class C (02/99) | |||||||||
2020(e) | 13.93 | 0.08 | (2.33) | (2.25) | (0.06) | (0.81) | (0.87) | 10.81 | |
2019 | 14.06 | 0.16 | 0.93 | 1.09 | (0.17) | (1.05) | (1.22) | 13.93 | |
2018 | 15.41 | 0.14 | 0.35 | 0.49 | (0.13) | (1.71) | (1.84) | 14.06 | |
2017 | 14.90 | 0.11 | 2.68 | 2.79 | (0.11) | (2.17) | (2.28) | 15.41 | |
2016 | 15.60 | 0.14 | 0.47 | 0.61 | (0.19) | (1.12) | (1.31) | 14.90 | |
2015 | 17.23 | 0.16 | (0.44) | (0.28) | (0.22) | (1.13) | (1.35) | 15.60 | |
Class R3 (09/01) | |||||||||
2020(e) | 14.14 | 0.11 | (2.36) | (2.25) | (0.10) | (0.81) | (0.91) | 10.98 | |
2019 | 14.26 | 0.23 | 0.94 | 1.17 | (0.24) | (1.05) | (1.29) | 14.14 | |
2018 | 15.60 | 0.22 | 0.36 | 0.58 | (0.21) | (1.71) | (1.92) | 14.26 | |
2017 | 15.08 | 0.18 | 2.71 | 2.89 | (0.20) | (2.17) | (2.37) | 15.60 | |
2016 | 15.77 | 0.22 | 0.47 | 0.69 | (0.26) | (1.12) | (1.38) | 15.08 | |
2015 | 17.41 | 0.24 | (0.45) | (0.21) | (0.30) | (1.13) | (1.43) | 15.77 | |
Class R6 (02/13) | |||||||||
2020(e) | 14.54 | 0.16 | (2.43) | (2.27) | (0.15) | (0.81) | (0.96) | 11.31 | |
2019 | 14.61 | 0.32 | 0.99 | 1.31 | (0.33) | (1.05) | (1.38) | 14.54 | |
2018 | 15.93 | 0.32 | 0.36 | 0.68 | (0.29) | (1.71) | (2.00) | 14.61 | |
2017 | 15.32 | 0.25 | 2.79 | 3.04 | (0.26) | (2.17) | (2.43) | 15.93 | |
2016 | 15.99 | 0.30 | 0.49 | 0.79 | (0.34) | (1.12) | (1.46) | 15.32 | |
2015 | 17.62 | 0.34 | (0.45) | (0.11) | (0.39) | (1.13) | (1.52) | 15.99 | |
Class I (08/94) | |||||||||
2020(e) | 14.42 | 0.15 | (2.42) | (2.27) | (0.14) | (0.81) | (0.95) | 11.20 | |
2019 | 14.51 | 0.30 | 0.98 | 1.28 | (0.32) | (1.05) | (1.37) | 14.42 | |
2018 | 15.85 | 0.30 | 0.36 | 0.66 | (0.29) | (1.71) | (2.00) | 14.51 | |
2017 | 15.27 | 0.26 | 2.75 | 3.01 | (0.26) | (2.17) | (2.43) | 15.85 | |
2016 | 15.95 | 0.29 | 0.49 | 0.78 | (0.34) | (1.12) | (1.46) | 15.27 | |
2015 | 17.60 | 0.33 | (0.46) | (0.13) | (0.39) | (1.13) | (1.52) | 15.95 |
Ratios/Supplemental Data | |||||
Ratios to Average Net Assets | |||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income(Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(d) |
(17.01)% | $ 170,861 | 1.09%* | 2.01%* | 1.99%* | 61% |
9.81 | 215,710 | 1.11 | 1.94 | N/A | 93 |
3.72 | 264,271 | 1.08 | 1.68 | N/A | 68 |
20.95 | 269,063 | 1.08 | 1.46 | N/A | 56 |
5.33 | 259,457 | 1.14 | 1.69 | N/A | 67 |
(0.87) | 310,055 | 1.15 | 1.72 | N/A | 53 |
(17.36) | 16,210 | 1.84* | 1.25* | 1.23* | 61 |
8.98 | 23,083 | 1.86 | 1.19 | N/A | 93 |
2.98 | 31,111 | 1.83 | 0.95 | N/A | 68 |
20.09 | 39,825 | 1.83 | 0.72 | N/A | 56 |
4.46 | 43,097 | 1.89 | 0.94 | N/A | 67 |
(1.59) | 53,507 | 1.90 | 0.98 | N/A | 53 |
(17.15) | 17,204 | 1.34* | 1.75* | 1.73* | 61 |
9.50 | 23,091 | 1.36 | 1.68 | N/A | 93 |
3.53 | 27,927 | 1.33 | 1.44 | N/A | 68 |
20.64 | 33,639 | 1.33 | 1.21 | N/A | 56 |
5.01 | 31,758 | 1.39 | 1.49 | N/A | 67 |
(1.12) | 42,618 | 1.40 | 1.45 | N/A | 53 |
(16.85) | 1,138,545 | 0.69* | 2.49* | 2.47* | 61 |
10.29 | 52,824 | 0.72 | 2.30 | N/A | 93 |
4.15 | 172,215 | 0.72 | 2.05 | N/A | 68 |
21.40 | 188,356 | 0.73 | 1.63 | N/A | 56 |
5.63 | 50,588 | 0.79 | 2.04 | N/A | 67 |
(0.51) | 56,123 | 0.81 | 2.03 | N/A | 53 |
(16.98) | 454,148 | 0.84* | 2.25* | 2.23* | 61 |
10.14 | 661,390 | 0.86 | 2.18 | N/A | 93 |
4.02 | 617,086 | 0.83 | 1.94 | N/A | 68 |
21.25 | 561,047 | 0.83 | 1.73 | N/A | 56 |
5.56 | 654,967 | 0.89 | 1.95 | N/A | 67 |
(0.64) | 930,850 | 0.90 | 1.99 | N/A | 53 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
(e) | For the six months ended April 30, 2020. |
* | Annualized. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended October 31, 2020. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended October 31 | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (12/87) | |||||||||
2020(f) | $41.07 | $ 0.17 | $(8.19) | $(8.02) | $(0.38) | $ — | $(0.38) | $32.67 | |
2019 | 38.91 | 0.40 | 3.29 | 3.69 | (0.09) | (1.44) | (1.53) | 41.07 | |
2018 | 42.32 | 0.29 | (0.46) | (0.17) | (0.26) | (2.98) | (3.24) | 38.91 | |
2017 | 35.23 | 0.26 | 8.17 | 8.43 | (0.32) | (1.02) | (1.34) | 42.32 | |
2016 | 35.39 | 0.30 | 0.72 | 1.02 | (0.09) | (1.09) | (1.18) | 35.23 | |
2015 | 35.37 | 0.10 | 0.22 | 0.32 | (0.30) | — | (0.30) | 35.39 | |
Class C (02/99) | |||||||||
2020(f) | 38.49 | 0.03 | (7.73) | (7.70) | (0.08) | — | (0.08) | 30.71 | |
2019 | 36.73 | 0.11 | 3.09 | 3.20 | — | (1.44) | (1.44) | 38.49 | |
2018 | 40.17 | ( —)* | (0.46) | (0.46) | — | (2.98) | (2.98) | 36.73 | |
2017 | 33.50 | (0.03) | 7.78 | 7.75 | (0.06) | (1.02) | (1.08) | 40.17 | |
2016 | 33.86 | 0.04 | 0.69 | 0.73 | — | (1.09) | (1.09) | 33.50 | |
2015 | 33.86 | (0.16) | 0.20 | 0.04 | (0.04) | — | (0.04) | 33.86 | |
Class R3 (09/01) | |||||||||
2020(f) | 40.67 | 0.12 | (8.12) | (8.00) | (0.28) | — | (0.28) | 32.39 | |
2019 | 38.55 | 0.31 | 3.25 | 3.56 | — | (1.44) | (1.44) | 40.67 | |
2018 | 41.95 | 0.18 | (0.44) | (0.26) | (0.16) | (2.98) | (3.14) | 38.55 | |
2017 | 34.94 | 0.17 | 8.09 | 8.26 | (0.23) | (1.02) | (1.25) | 41.95 | |
2016 | 35.17 | 0.21 | 0.65 | 0.86 | — | (1.09) | (1.09) | 34.94 | |
2015 | 35.15 | 0.02 | 0.21 | 0.23 | (0.21) | — | (0.21) | 35.17 | |
Class R6 (06/18) | |||||||||
2020(f) | 41.32 | 0.24 | (8.21) | (7.97) | (0.52) | — | (0.52) | 32.83 | |
2019 | 39.10 | 0.55 | 3.30 | 3.85 | (0.19) | (1.44) | (1.63) | 41.32 | |
2018(g) | 42.86 | 0.11 | (3.87) | (3.76) | — | — | — | 39.10 | |
Class I (02/94) | |||||||||
2020(f) | 41.24 | 0.22 | (8.21) | (7.99) | (0.48) | — | (0.48) | 32.77 | |
2019 | 39.08 | 0.51 | 3.28 | 3.79 | (0.19) | (1.44) | (1.63) | 41.24 | |
2018 | 42.49 | 0.40 | (0.47) | (0.07) | (0.36) | (2.98) | (3.34) | 39.08 | |
2017 | 35.36 | 0.36 | 8.20 | 8.56 | (0.41) | (1.02) | (1.43) | 42.49 | |
2016 | 35.52 | 0.38 | 0.73 | 1.11 | (0.18) | (1.09) | (1.27) | 35.36 | |
2015 | 35.50 | 0.20 | 0.20 | 0.40 | (0.38) | — | (0.38) | 35.52 |
Ratios/Supplemental Data | |||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
(19.74)% | $ 39,695 | 1.29%*** | 0.77%*** | 0.75%*** | 1.17%*** | 0.90%*** | 0.88%*** | 12% | |
10.19 | 55,467 | 1.27 | 0.94 | N/A | 1.17 | 1.04 | N/A | 46 | |
(0.65) | 51,202 | 1.31 | 0.55 | N/A | 1.17 | 0.69 | N/A | 49 | |
24.43 | 40,319 | 1.32 | 0.52 | N/A | 1.17 | 0.67 | N/A | 43 | |
3.12 | 34,230 | 1.39 | 0.73 | N/A | 1.26 | 0.86 | N/A | 44 | |
0.89 | 36,378 | 1.41 | 0.20 | N/A | 1.32 | 0.29 | N/A | 111 | |
(20.05) | 5,056 | 2.04*** | 0.03*** | 0.01*** | 1.92*** | 0.15*** | 0.13*** | 12 | |
9.39 | 7,631 | 2.02 | 0.20 | N/A | 1.92 | 0.30 | N/A | 46 | |
(1.41) | 6,899 | 2.06 | (0.14) | N/A | 1.92 | ( —)** | N/A | 49 | |
23.52 | 7,474 | 2.07 | (0.23) | N/A | 1.92 | (0.08) | N/A | 43 | |
2.32 | 6,529 | 2.14 | (0.02) | N/A | 2.01 | 0.11 | N/A | 44 | |
0.15 | 7,379 | 2.16 | (0.55) | N/A | 2.07 | (0.46) | N/A | 111 | |
(19.83) | 7,745 | 1.54*** | 0.50*** | 0.48*** | 1.42*** | 0.62*** | 0.60*** | 12 | |
9.92 | 10,230 | 1.52 | 0.70 | N/A | 1.42 | 0.81 | N/A | 46 | |
(0.90) | 7,670 | 1.56 | 0.30 | N/A | 1.42 | 0.44 | N/A | 49 | |
24.11 | 5,284 | 1.57 | 0.28 | N/A | 1.42 | 0.43 | N/A | 43 | |
2.86 | 5,206 | 1.64 | 0.48 | N/A | 1.51 | 0.61 | N/A | 44 | |
0.65 | 6,942 | 1.66 | (0.04) | N/A | 1.57 | 0.05 | N/A | 111 | |
(19.58) | 15,777 | 0.89*** | 1.14*** | 1.12*** | 0.77*** | 1.26*** | 1.24*** | 12 | |
10.63 | 19,481 | 0.87 | 1.29 | N/A | 0.77 | 1.39 | N/A | 46 | |
(8.77) | 958 | 0.93*** | 0.56*** | N/A | 0.79*** | 0.71*** | N/A | 49 | |
(19.64) | 201,480 | 1.04*** | 1.01*** | 0.99*** | 0.92*** | 1.12*** | 1.10*** | 12 | |
10.48 | 250,717 | 1.02 | 1.20 | N/A | 0.92 | 1.30 | N/A | 46 | |
(0.40) | 139,841 | 1.07 | 0.80 | N/A | 0.92 | 0.95 | N/A | 49 | |
24.75 | 57,365 | 1.07 | 0.77 | N/A | 0.92 | 0.92 | N/A | 43 | |
3.38 | 53,631 | 1.14 | 0.98 | N/A | 1.01 | 1.11 | N/A | 44 | |
1.12 | 67,834 | 1.16 | 0.46 | N/A | 1.07 | 0.55 | N/A | 111 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
(f) | For the six months ended April 30, 2020. |
(g) | For the period June 30, 2018 (commencement of operations) through October 31, 2018. |
* | Rounds to more than $(0.01). |
** | Rounds to less than 0.01%. |
*** | Annualized. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended October 31, 2020. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended October 31 | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (08/94) | |||||||||
2020(f) | $22.19 | $ 0.02 | $(6.30) | $(6.28) | $(0.21) | $ — | $(0.21) | $15.70 | |
2019 | 22.96 | 0.18 | (0.17) | 0.01 | (0.13) | (0.65) | (0.78) | 22.19 | |
2018 | 25.19 | 0.12 | (2.15) | (2.03) | (0.10) | (0.10) | (0.20) | 22.96 | |
2017 | 20.98 | 0.11 | 4.70 | 4.81 | (0.09) | (0.51) | (0.60) | 25.19 | |
2016 | 19.95 | 0.14 | 1.20 | 1.34 | (0.01) | (0.30) | (0.31) | 20.98 | |
2015 | 18.55 | 0.07 | 1.40 | 1.47 | (0.07) | — | (0.07) | 19.95 | |
Class C (02/99) | |||||||||
2020(f) | 18.62 | (0.05) | (5.32) | (5.37) | (0.04) | — | (0.04) | 13.21 | |
2019 | 19.39 | 0.01 | (0.13) | (0.12) | — | (0.65) | (0.65) | 18.62 | |
2018 | 21.36 | (0.06) | (1.81) | (1.87) | — | (0.10) | (0.10) | 19.39 | |
2017 | 17.92 | (0.06) | 4.01 | 3.95 | — | (0.51) | (0.51) | 21.36 | |
2016 | 17.20 | (0.01) | 1.03 | 1.02 | — | (0.30) | (0.30) | 17.92 | |
2015 | 16.06 | (0.07) | 1.21 | 1.14 | — | — | — | 17.20 | |
Class R3 (09/01) | |||||||||
2020(f) | 21.68 | (0.01) | (6.17) | (6.18) | (0.15) | — | (0.15) | 15.35 | |
2019 | 22.43 | 0.12 | (0.15) | (0.03) | (0.07) | (0.65) | (0.72) | 21.68 | |
2018 | 24.61 | 0.05 | (2.09) | (2.04) | (0.04) | (0.10) | (0.14) | 22.43 | |
2017 | 20.51 | 0.05 | 4.60 | 4.65 | (0.04) | (0.51) | (0.55) | 24.61 | |
2016 | 19.56 | 0.09 | 1.16 | 1.25 | — | (0.30) | (0.30) | 20.51 | |
2015 | 18.19 | 0.02 | 1.38 | 1.40 | (0.03) | — | (0.03) | 19.56 | |
Class R6 (06/16) | |||||||||
2020(f) | 23.09 | 0.04 | (6.52) | (6.48) | (0.29) | — | (0.29) | 16.32 | |
2019 | 23.83 | 0.29 | (0.18) | 0.11 | (0.20) | (0.65) | (0.85) | 23.09 | |
2018 | 26.09 | 0.23 | (2.22) | (1.99) | (0.17) | (0.10) | (0.27) | 23.83 | |
2017 | 21.71 | 0.21 | 4.84 | 5.05 | (0.16) | (0.51) | (0.67) | 26.09 | |
2016(g) | 21.08 | 0.07 | 0.56 | 0.63 | — | —* | —* | 21.71 | |
Class I (08/94) | |||||||||
2020(f) | 23.00 | 0.07 | (6.55) | (6.48) | (0.27) | — | (0.27) | 16.25 | |
2019 | 23.79 | 0.24 | (0.18) | 0.06 | (0.20) | (0.65) | (0.85) | 23.00 | |
2018 | 26.09 | 0.19 | (2.22) | (2.03) | (0.17) | (0.10) | (0.27) | 23.79 | |
2017 | 21.70 | 0.17 | 4.88 | 5.05 | (0.15) | (0.51) | (0.66) | 26.09 | |
2016 | 20.63 | 0.19 | 1.24 | 1.43 | (0.06) | (0.30) | (0.36) | 21.70 | |
2015 | 19.18 | 0.12 | 1.45 | 1.57 | (0.12) | — | (0.12) | 20.63 |
Ratios/Supplemental Data | |||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
(28.60)% | $ 110,556 | 1.30%** | 0.11%** | 0.09%** | 1.20%** | 0.21%** | 0.19%** | 16% | |
0.44 | 213,819 | 1.28 | 0.73 | N/A | 1.20 | 0.81 | N/A | 31 | |
(8.12) | 291,122 | 1.24 | 0.43 | N/A | 1.20 | 0.47 | N/A | 35 | |
23.06 | 326,495 | 1.26 | 0.43 | N/A | 1.22 | 0.46 | N/A | 29 | |
6.85 | 167,840 | 1.34 | 0.65 | N/A | 1.30 | 0.68 | N/A | 40 | |
7.95 | 48,656 | 1.40 | 0.32 | N/A | 1.39 | 0.34 | N/A | 49 | |
(28.92) | 26,142 | 2.05** | (0.66)** | (0.68)** | 1.95** | (0.56)** | (0.58)** | 16 | |
(0.28) | 45,920 | 2.03 | (0.01) | N/A | 1.95 | 0.07 | N/A | 31 | |
(8.80) | 70,077 | 1.99 | (0.32) | N/A | 1.95 | (0.28) | N/A | 35 | |
22.14 | 71,902 | 2.01 | (0.33) | N/A | 1.97 | (0.29) | N/A | 29 | |
6.08 | 26,815 | 2.09 | (0.11) | N/A | 2.05 | (0.08) | N/A | 40 | |
7.10 | 4,507 | 2.15 | (0.44) | N/A | 2.14 | (0.42) | N/A | 49 | |
(28.72) | 23,372 | 1.55** | (0.24)** | (0.26)** | 1.45** | (0.15)** | (0.17)** | 16 | |
0.21 | 37,296 | 1.53 | 0.48 | N/A | 1.45 | 0.56 | N/A | 31 | |
(8.34) | 47,205 | 1.49 | 0.17 | N/A | 1.45 | 0.21 | N/A | 35 | |
22.79 | 42,975 | 1.51 | 0.18 | N/A | 1.47 | 0.22 | N/A | 29 | |
6.58 | 26,510 | 1.59 | 0.43 | N/A | 1.56 | 0.46 | N/A | 40 | |
7.62 | 14,516 | 1.65 | 0.07 | N/A | 1.64 | 0.09 | N/A | 49 | |
(28.46) | 99,003 | 0.85** | 0.30** | 0.28** | 0.76** | 0.39** | 0.37** | 16 | |
0.90 | 133,071 | 0.83 | 1.18 | N/A | 0.75 | 1.26 | N/A | 31 | |
(7.73) | 121,943 | 0.82 | 0.82 | N/A | 0.78 | 0.86 | N/A | 35 | |
23.40 | 52,508 | 0.85 | 0.82 | N/A | 0.81 | 0.86 | N/A | 29 | |
3.00 | 19,967 | 0.89** | 0.85** | N/A | 0.83** | 0.91** | N/A | 40 | |
(28.53) | 554,864 | 1.05** | 0.53** | 0.51** | 0.95** | 0.63** | 0.61** | 16 | |
0.69 | 1,228,912 | 1.03 | 0.99 | N/A | 0.95 | 1.06 | N/A | 31 | |
(7.88) | 1,812,444 | 0.99 | 0.67 | N/A | 0.95 | 0.71 | N/A | 35 | |
23.40 | 1,444,587 | 1.01 | 0.66 | N/A | 0.97 | 0.70 | N/A | 29 | |
7.09 | 369,016 | 1.09 | 0.90 | N/A | 1.05 | 0.93 | N/A | 40 | |
8.22 | 91,044 | 1.15 | 0.58 | N/A | 1.14 | 0.59 | N/A | 49 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
(f) | For the six months ended April 30, 2020. |
(g) | For the period June 30, 2016 (commencement of operations) through October 31, 2016. |
* | Rounds to more than $(0.01). |
** | Annualized. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended October 31, 2020. |
Dividend Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $1,791,632,554 | $ — | $ — | $1,791,632,554 |
Short-Term Investments: | ||||
Money Market Funds | 37,191,047 | — | — | 37,191,047 |
Total | $1,828,823,601 | $ — | $ — | $1,828,823,601 |
Mid Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $265,223,605 | $ — | $ — | $265,223,605 |
Investments Purchased with Collateral from Securities Lending | 548,725 | — | — | 548,725 |
Short-Term Investments: | ||||
Money Market Funds | 3,741,107 | — | — | 3,741,107 |
Total | $269,513,437 | $ — | $ — | $269,513,437 |
Small Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $810,402,427 | $ — | $ — | $810,402,427 |
Investments Purchased with Collateral from Securities Lending | 511,875 | — | — | 511,875 |
Short-Term Investments: | ||||
Money Market Funds | 2,318,774 | — | — | 2,318,774 |
Total | $813,233,076 | $ — | $ — | $813,233,076 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Collateral Pledged (From) Counterparty* | Net Exposure |
Mid Cap Value | Common Stocks | $518,175 | $(518,175) | $ – |
Small Cap Value | Common Stocks | 488,150 | (488,150) | – |
Dividend Value | Mid Cap Value | Small Cap Value | |
Purchases | $2,345,673,548 | $37,409,886 | $205,700,774 |
Sales | 1,101,918,497 | 38,155,431 | 616,640,941 |
Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||||
Dividend Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 1,171,248 | $ 13,906,065 | 1,677,446 | $ 22,337,847 | |
Class A – automatic conversion of Class C Shares | 54 | 621 | 73 | 957 | |
Class C | 107,202 | 1,260,844 | 282,093 | 3,628,341 | |
Class R3 | 102,963 | 1,096,082 | 94,117 | 1,238,755 | |
Class R6 | 100,108,405 | 1,462,401,620 | 1,213,050 | 16,346,121 | |
Class I | 1,131,587 | 14,426,729 | 10,166,912 | 138,148,309 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 969,001 | 13,296,096 | 1,576,032 | 19,941,966 | |
Class C | 93,369 | 1,268,305 | 190,846 | 2,353,410 | |
Class R3 | 100,990 | 1,383,786 | 183,244 | 2,302,765 | |
Class R6 | 5,851,098 | 81,541,770 | 1,204,312 | 15,528,414 | |
Class I | 2,686,035 | 37,453,951 | 3,866,297 | 49,758,561 | |
112,321,952 | 1,628,035,869 | 20,454,422 | 271,585,446 | ||
Shares redeemed: | |||||
Class A | (1,840,234) | (23,341,988) | (6,531,277) | (90,310,449) | |
Class C | (358,423) | (4,404,322) | (1,029,242) | (13,485,277) | |
Class C – automatic conversion to Class A Shares | (55) | (621) | (75) | (957) | |
Class R3 | (270,303) | (3,454,088) | (603,862) | (8,169,371) | |
Class R6 | (8,895,460) | (118,132,955) | (10,573,604) | (150,778,977) | |
Class I | (9,163,096) | (115,489,830) | (10,684,542) | (144,825,589) | |
Class T(1) | — | — | (1,667) | (23,783) | |
(20,527,571) | (264,823,804) | (29,424,269) | (407,594,403) | ||
Net increase (decrease) | 91,794,381 | $1,363,212,065 | (8,969,847) | $(136,008,957) |
(1) | Class T Shares were not available for public offering. |
Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||||
Mid Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 93,601 | $ 3,481,801 | 497,321 | $ 18,815,351 | |
Class A – automatic conversion of Class C Shares | 130 | 5,313 | 355 | 13,927 | |
Class C | 12,843 | 481,834 | 59,705 | 2,084,825 | |
Class R3 | 34,294 | 1,186,912 | 87,365 | 3,251,223 | |
Class R6 | 50,285 | 1,815,288 | 523,102 | 20,076,145 | |
Class I | 1,273,143 | 45,951,906 | 4,015,539 | 150,898,037 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 11,554 | 493,467 | 57,804 | 2,013,596 | |
Class C | 377 | 15,175 | 8,113 | 266,263 | |
Class R3 | 1,602 | 67,895 | 8,859 | 305,976 | |
Class R6 | 5,674 | 243,148 | 4,274 | 149,193 | |
Class I | 62,189 | 2,661,684 | 181,850 | 6,347,513 | |
1,545,692 | 56,404,423 | 5,444,287 | 204,222,049 | ||
Shares redeemed: | |||||
Class A | (240,639) | (9,582,937) | (520,883) | (20,059,388) | |
Class C | (46,715) | (1,614,592) | (56,974) | (2,072,802) | |
Class C – automatic conversion to Class A Shares | (139) | (5,313) | (378) | (13,927) | |
Class R3 | (48,243) | (1,945,194) | (43,711) | (1,650,505) | |
Class R6 | (46,831) | (1,809,784) | (80,400) | (3,177,406) | |
Class I | (1,265,736) | (49,119,598) | (1,695,877) | (65,908,036) | |
(1,648,303) | (64,077,418) | (2,398,223) | (92,882,064) | ||
Net increase (decrease) | (102,611) | $ (7,672,995) | 3,046,064 | $111,339,985 |
Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||||
Small Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 916,847 | $ 16,332,084 | 2,967,618 | $ 64,293,133 | |
Class A – automatic conversion of Class C Shares | 24 | 484 | 13 | 286 | |
Class C | 123,616 | 1,998,797 | 288,301 | 5,290,745 | |
Class R3 | 211,244 | 3,588,971 | 362,916 | 7,727,713 | |
Class R6 | 2,483,218 | 50,513,275 | 3,301,739 | 75,508,622 | |
Class I | 9,155,317 | 172,205,778 | 25,415,266 | 572,950,449 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 66,708 | 1,512,264 | 369,605 | 7,401,118 | |
Class C | 3,856 | 73,760 | 119,856 | 2,024,376 | |
Class R3 | 10,488 | 232,719 | 69,740 | 1,366,231 | |
Class R6 | 55,325 | 1,301,811 | 193,478 | 4,015,160 | |
Class I | 471,163 | 11,048,770 | 2,270,710 | 47,047,218 | |
13,497,806 | 258,808,713 | 35,359,242 | 787,625,051 | ||
Shares redeemed: | |||||
Class A | (3,575,290) | (71,993,540) | (6,381,541) | (139,034,945) | |
Class C | (615,695) | (9,911,808) | (1,555,408) | (28,497,743) | |
Class C – automatic conversion to Class A Shares | (28) | (484) | (15) | (286) | |
Class R3 | (419,681) | (7,998,964) | (816,795) | (17,524,715) | |
Class R6 | (2,234,769) | (43,776,697) | (2,849,621) | (64,694,141) | |
Class I | (28,906,855) | (540,770,843) | (50,448,584) | (1,136,613,380) | |
Class T(1) | — | — | (1,036) | (23,331) | |
(35,752,318) | (674,452,336) | (62,053,000) | (1,386,388,541) | ||
Net increase (decrease) | (22,254,512) | $(415,643,623) | (26,693,758) | $ (598,763,490) |
(1) | Class T Shares were not available for public offering. |
Dividend Value | Mid Cap Value | Small Cap Value | |
Tax cost of investments | $1,968,035,367 | $285,028,270 | $ 986,129,674 |
Gross unrealized: | |||
Appreciation | $ 85,989,059 | $ 20,854,129 | $ 47,109,532 |
Depreciation | (225,200,825) | (36,917,687) | (220,518,005) |
Net unrealized appreciation (depreciation) of investments | $ (139,211,766) | $ (16,063,558) | $(173,408,473) |
Dividend Value | Mid Cap Value | Small Cap Value | |
Undistributed net ordinary income1 | $ 3,019,511 | $3,801,327 | $11,967,251 |
Undistributed net long-term capital gains | 115,850,017 | — | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Dividend Value | Mid Cap Value | Small Cap Value | |
Distributions from net ordinary income1 | $23,543,456 | $1,112,194 | $25,173,480 |
Distributions from net long-term capital gains | 78,600,703 | 9,028,087 | 51,926,594 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Mid Cap Value | Small Cap Value | |
Not subject to expiration: | ||
Short-term | $4,728,314 | $ 79,696,445 |
Long-term | — | 103,933,776 |
Total | $4,728,314 | $183,630,221 |
Average Daily Net Assets | Dividend Value | Mid Cap Value | Small Cap Value |
For the first $125 million | 0.5000% | 0.6000% | 0.6500% |
For the next $125 million | 0.4875 | 0.5875 | 0.6375 |
For the next $250 million | 0.4750 | 0.5750 | 0.6250 |
For the next $500 million | 0.4625 | 0.5625 | 0.6125 |
For the next $1 billion | 0.4500 | 0.5500 | 0.6000 |
For the next $3 billion | 0.4250 | 0.5250 | 0.5750 |
For the next $2.5 billion | 0.4000 | 0.5000 | 0.5500 |
For the next $2.5 billion | 0.3875 | 0.4875 | 0.5375 |
For net assets over $10 billion | 0.3750 | 0.4750 | 0.5250 |
Complex-Level Eligible Asset Breakpoint Level* | Effective Complex-Level Fee Rate at Breakpoint Level |
$55 billion | 0.2000% |
$56 billion | 0.1996 |
$57 billion | 0.1989 |
$60 billion | 0.1961 |
$63 billion | 0.1931 |
$66 billion | 0.1900 |
$71 billion | 0.1851 |
$76 billion | 0.1806 |
$80 billion | 0.1773 |
$91 billion | 0.1691 |
$125 billion | 0.1599 |
$200 billion | 0.1505 |
$250 billion | 0.1469 |
$300 billion | 0.1445 |
Fund | Complex-Level Fee |
Dividend Value | 0.1830% |
Mid Cap Value | 0.2000% |
Small Cap Value | 0.1640% |
Fund | Expense Cap | Expense Cap Expiration Date |
Mid Cap Value | 0.92% | July 31, 2021 |
Small Cap Value | 0.99 | July 31, 2021 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Sales charges collected | $44,460 | $22,291 | $43,377 |
Paid to financial intermediaries | 39,521 | 19,567 | 38,156 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Commission advances | $11,785 | $4,449 | $16,906 |
Dividend Value | Mid Cap Value | Small Cap Value | |
12b-1 fees retained | $6,267 | $5,440 | $15,141 |
Dividend Value | Mid Cap Value | Small Cap Value | |
CDSC retained | $387 | $557 | $2,491 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Maximum outstanding balance | $8,300,000 | $9,300,000 | $21,700,000 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Utilization period (days outstanding) | 1 | 3 | 23 |
Average daily balance outstanding | $8,300,000 | $9,300,000 | $9,721,739 |
Average annual interest rate | 2.67% | 2.68% | 1.95% |
Serving Investors for Generations
Fund Name | Class A | Class C | Class R3 | Class R6 | Class I |
Nuveen Mid Cap Growth Opportunities Fund | FRSLX | FMECX | FMEYX | FMEFX | FISGX |
Nuveen Small Cap Growth Opportunities Fund | FRMPX | FMPCX | FMPYX | FMPFX | FIMPX |
Total Returns as of April 30, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 1/09/95 | 1.64% | 0.92% | 6.61% | 10.78% | 1.24% | 1.17% | ||
Class A Shares at maximum Offering Price | 1/09/95 | (4.19)% | (4.89)% | 5.36% | 10.13% | — | — | ||
Russell Midcap® Growth Index | — | (1.78)% | 0.23% | 8.88% | 12.19% | — | — | ||
Lipper Mid-Cap Growth Funds Classification Average | — | (1.07)% | (0.20)% | 8.45% | 11.15% | — | — | ||
Class C Shares | 9/24/01 | 1.28% | 0.20% | 5.82% | 9.96% | 2.00% | 1.92% | ||
Class R3 Shares | 12/11/00 | 1.53% | 0.70% | 6.35% | 10.51% | 1.50% | 1.42% | ||
Class I Shares | 12/28/89 | 1.76% | 1.19% | 6.88% | 11.06% | 1.00% | 0.92% |
Total Returns as of April 30, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 2/28/13 | 1.84% | 1.32% | 7.03% | 10.62% | 0.86% | 0.79% |
Total Returns as of April 30, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 8/01/95 | 1.00% | (0.38)% | 6.87% | 9.67% | 1.40% | 1.24% | ||
Class A Shares at maximum Offering Price | 8/01/95 | (4.81)% | (6.12)% | 5.61% | 9.03% | — | — | ||
Russel 2000® Growth Index | — | (7.62)% | (9.22)% | 5.19% | 9.96% | — | — | ||
Lipper Small-Cap Growth Funds Classification Average | — | (5.31)% | (7.20)% | 6.62% | 10.22% | — | — | ||
Class C Shares | 9/24/01 | (0.60)% | (1.11)% | 6.07% | 8.86% | 2.15% | 1.99% | ||
Class R3 Shares | 12/11/00 | 0.87% | (0.61)% | 6.60% | 9.40% | 1.65% | 1.49% | ||
Class I Shares | 8/01/95 | 1.10% | (0.12)% | 7.13% | 9.95% | 1.14% | 0.99% |
Total Returns as of April 30, 2020* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/30/16 | 1.21% | 0.27% | 12.11% | 1.02% | 0.86% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.1% |
Investments Purchased with Collateral from Securities Lending | 1.9% |
Money Market Funds | 1.2% |
Other Assets Less Liabilities | (2.2)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Software | 16.2% |
IT Services | 8.9% |
Health Care Equipment & Supplies | 6.7% |
Hotels, Restaurants & Leisure | 6.4% |
Biotechnology | 6.0% |
Semiconductors & Semiconductor Equipment | 5.3% |
Specialty Retail | 4.8% |
Building Products | 3.9% |
Capital Markets | 3.5% |
Electronic Equipment, Instruments & Components | 3.4% |
Aerospace & Defense | 3.0% |
Equity Real Estate Investment Trust | 3.0% |
Health Care Providers & Services | 2.7% |
Multiline Retail | 2.3% |
Textiles, Apparel & Luxury Goods | 2.0% |
Communications Equipment | 1.8% |
Other | 19.2% |
Investments Purchased with Collateral from Securities Lending | 1.9% |
Money Market Funds | 1.2% |
Other Assets Less Liabilities | (2.2)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Centene Corp | 2.7% |
MSCI Inc | 2.5% |
Chipotle Mexican Grill Inc | 2.5% |
Dollar General Corp | 2.3% |
O'Reilly Automotive Inc | 2.1% |
Fund Allocation (% of net assets) | |
Common Stocks | 97.3% |
Exchange-Traded Funds | 2.6% |
Investments Purchased with Collateral from Securities Lending | 2.1% |
Other Assets Less Liabilities | (2.0)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Software | 10.8% |
Biotechnology | 8.5% |
Health Care Equipment & Supplies | 7.5% |
Semiconductors & Semiconductor Equipment | 5.2% |
Hotels, Restaurants & Leisure | 5.0% |
Equity Real Estate Investment Trust | 4.3% |
Building Products | 3.7% |
Pharmaceuticals | 3.5% |
Machinery | 3.5% |
Aerospace & Defense | 3.5% |
Insurance | 3.1% |
Food Products | 2.8% |
Diversified Financial Services | 2.6% |
Health Care Technology | 2.6% |
Household Durables | 2.6% |
IT Services | 2.5% |
Health Care Providers & Services | 2.4% |
Commercial Services & Supplies | 2.2% |
Life Sciences Tools & Services | 2.2% |
Textiles, Apparel & Luxury Goods | 2.1% |
Other | 19.3% |
Investments Purchased with Collateral from Securities Lending | 2.1% |
Other Assets Less Liabilities | (2.0)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Mercury Systems Inc | 2.3% |
Inphi Corp | 2.0% |
Horizon Therapeutics Plc | 2.0% |
Lattice Semiconductor Corp | 1.7% |
MAXIMUS Inc | 1.7% |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,016.42 | $1,012.79 | $1,015.29 | $1,018.39 | $1,017.63 |
Expenses Incurred During the Period | $ 5.87 | $ 9.61 | $ 7.12 | $ 3.96 | $ 4.62 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.05 | $1,015.32 | $1,017.80 | $1,020.93 | $1,020.29 |
Expenses Incurred During the Period | $ 5.87 | $ 9.62 | $ 7.12 | $ 3.97 | $ 4.62 |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,010.02 | $1,006.00 | $1,008.74 | $1,012.07 | $1,010.98 |
Expenses Incurred During the Period | $ 6.10 | $ 9.83 | $ 7.34 | $ 4.00 | $ 4.85 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,018.80 | $1,015.07 | $1,017.55 | $1,020.89 | $1,020.04 |
Expenses Incurred During the Period | $ 6.12 | $ 9.87 | $ 7.37 | $ 4.02 | $ 4.87 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.1% | ||||||
COMMON STOCKS – 99.1% | ||||||
Aerospace & Defense – 3.0% | ||||||
33,858 | L3Harris Technologies Inc | $6,558,295 | ||||
9,455 | TransDigm Group Inc, (2) | 3,432,921 | ||||
Total Aerospace & Defense | 9,991,216 | |||||
Airlines – 0.8% | ||||||
84,347 | Alaska Air Group Inc, (2) | 2,742,964 | ||||
Biotechnology – 6.0% | ||||||
63,228 | BioMarin Pharmaceutical Inc, (2) | 5,818,241 | ||||
39,652 | Exact Sciences Corp, (2) | 3,131,715 | ||||
22,053 | Immunomedics Inc, (2) | 669,970 | ||||
35,074 | Sarepta Therapeutics Inc, (2) | 4,134,523 | ||||
29,274 | Seattle Genetics Inc, (2) | 4,017,271 | ||||
17,973 | United Therapeutics Corp, (2) | 1,969,122 | ||||
Total Biotechnology | 19,740,842 | |||||
Building Products – 3.9% | ||||||
77,614 | Owens Corning | 3,365,343 | ||||
58,094 | Trane Technologies PLC | 5,078,577 | ||||
46,190 | Trex Co Inc, (2) | 4,398,212 | ||||
Total Building Products | 12,842,132 | |||||
Capital Markets – 3.5% | ||||||
63,273 | Evercore Inc | 3,264,887 | ||||
25,347 | MSCI Inc | 8,288,469 | ||||
Total Capital Markets | 11,553,356 | |||||
Chemicals – 0.8% | ||||||
127,927 | Axalta Coating Systems Ltd, (2) | 2,525,279 | ||||
Communications Equipment – 1.8% | ||||||
53,332 | Ciena Corp, (2) | 2,466,605 | ||||
43,919 | Lumentum Holdings Inc, (2) | 3,553,486 | ||||
Total Communications Equipment | 6,020,091 | |||||
Consumer Finance – 1.2% | ||||||
165,636 | OneMain Holdings Inc | 4,010,048 | ||||
Containers & Packaging – 1.3% | ||||||
107,799 | Berry Global Group Inc, (2) | 4,289,322 |
Shares | Description (1) | Value | ||||
Electrical Equipment – 1.8% | ||||||
71,153 | AMETEK Inc | $ 5,967,602 | ||||
Electronic Equipment, Instruments & Components – 3.4% | ||||||
51,570 | CDW Corp | 5,713,956 | ||||
55,868 | Keysight Technologies Inc, (2) | 5,406,346 | ||||
Total Electronic Equipment, Instruments & Components | 11,120,302 | |||||
Entertainment – 0.7% | ||||||
17,559 | Take-Two Interactive Software Inc, (2) | 2,125,517 | ||||
Equity Real Estate Investment Trust – 3.0% | ||||||
29,137 | CoreSite Realty Corp | 3,531,113 | ||||
21,687 | SBA Communications Corp | 6,287,495 | ||||
Total Equity Real Estate Investment Trust | 9,818,608 | |||||
Food & Staples Retailing – 0.9% | ||||||
55,181 | Sysco Corp | 3,105,035 | ||||
Food Products – 1.2% | ||||||
53,233 | Freshpet Inc, (2) | 4,014,301 | ||||
Health Care Equipment & Supplies – 6.7% | ||||||
15,567 | Align Technology Inc, (2) | 3,344,570 | ||||
20,557 | DexCom Inc, (2) | 6,890,706 | ||||
23,550 | Insulet Corp, (2) | 4,703,406 | ||||
13,538 | Teleflex Inc | 4,540,645 | ||||
21,007 | Zimmer Biomet Holdings Inc | 2,514,538 | ||||
Total Health Care Equipment & Supplies | 21,993,865 | |||||
Health Care Providers & Services – 2.7% | ||||||
135,182 | Centene Corp, (2) | 9,000,418 | ||||
Health Care Technology – 0.9% | ||||||
18,211 | Teladoc Health Inc, (2) | 2,997,349 | ||||
Hotels, Restaurants & Leisure – 6.4% | ||||||
9,343 | Chipotle Mexican Grill Inc, (2) | 8,208,293 | ||||
44,188 | Darden Restaurants Inc, (2), (3) | 3,260,633 | ||||
6,366 | Domino's Pizza Inc | 2,304,046 | ||||
21,005 | Vail Resorts Inc, (2) | 3,591,855 | ||||
43,765 | Wynn Resorts Ltd | 3,743,220 | ||||
Total Hotels, Restaurants & Leisure | 21,108,047 | |||||
Household Products – 1.6% | ||||||
73,098 | Church & Dwight Co Inc | 5,116,129 | ||||
IT Services – 8.9% | ||||||
52,983 | Akamai Technologies Inc, (2) | 5,176,969 |
Shares | Description (1) | Value | ||||
IT Services (continued) | ||||||
46,779 | Euronet Worldwide Inc, (2) | $4,292,441 | ||||
27,266 | FleetCor Technologies Inc, (2) | 6,577,922 | ||||
56,392 | MAXIMUS Inc | 3,796,309 | ||||
28,605 | Okta Inc, (2) | 4,327,937 | ||||
23,895 | VeriSign Inc, (2) | 5,005,764 | ||||
Total IT Services | 29,177,342 | |||||
Leisure Products – 0.5% | ||||||
23,765 | Polaris Inc | 1,685,651 | ||||
Life Sciences Tools & Services – 0.6% | ||||||
178,413 | Accelerate Diagnostics Inc, (2) | 1,946,485 | ||||
Machinery – 1.1% | ||||||
23,518 | Parker-Hannifin Corp | 3,718,666 | ||||
Media – 1.2% | ||||||
58,130 | Nexstar Media Group Inc | 4,071,425 | ||||
Multiline Retail – 2.3% | ||||||
42,920 | Dollar General Corp | 7,523,876 | ||||
Pharmaceuticals – 1.5% | ||||||
132,914 | Horizon Therapeutics Plc, (2) | 4,790,221 | ||||
Professional Services – 0.7% | ||||||
33,989 | IHS Markit Ltd | 2,287,460 | ||||
Road & Rail – 1.1% | ||||||
92,387 | Knight-Swift Transportation Holdings Inc | 3,434,949 | ||||
Semiconductors & Semiconductor Equipment – 5.3% | ||||||
58,120 | Inphi Corp, (2) | 5,610,905 | ||||
26,037 | Lam Research Corp | 6,646,725 | ||||
25,730 | Monolithic Power Systems Inc | 5,143,684 | ||||
Total Semiconductors & Semiconductor Equipment | 17,401,314 | |||||
Software – 16.2% | ||||||
21,669 | ANSYS Inc, (2) | 5,673,594 | ||||
40,571 | Aspen Technology Inc, (2) | 4,148,385 | ||||
34,125 | Atlassian Corp PLC, (2) | 5,306,096 | ||||
46,250 | Avalara Inc, (2) | 4,133,363 | ||||
69,654 | Cadence Design Systems Inc, (2) | 5,651,029 | ||||
41,756 | Crowdstrike Holdings Inc, (2) | 2,825,211 | ||||
13,872 | Everbridge Inc, (2) | 1,545,063 | ||||
23,482 | HubSpot Inc, (2) | 3,959,770 | ||||
93,733 | Rapid7 Inc, (2) | 4,269,538 |
Shares | Description (1) | Value | ||||
Software (continued) | ||||||
79,025 | RealPage Inc, (2) | $5,096,322 | ||||
22,566 | RingCentral Inc, (2) | 5,157,008 | ||||
18,701 | Trade Desk Inc, (2) | 5,471,539 | ||||
Total Software | 53,236,918 | |||||
Specialty Retail – 4.8% | ||||||
54,151 | Best Buy Co Inc | 4,155,006 | ||||
18,079 | O'Reilly Automotive Inc, (2) | 6,984,641 | ||||
47,113 | Tractor Supply Co | 4,778,672 | ||||
Total Specialty Retail | 15,918,319 | |||||
Textiles, Apparel & Luxury Goods – 2.0% | ||||||
29,077 | Lululemon Athletica Inc, (2), (3) | 6,498,128 | ||||
Trading Companies & Distributors – 1.3% | ||||||
26,061 | Watsco Inc | 4,195,560 | ||||
Total Long-Term Investments (cost $272,582,624) | 325,968,737 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 1.9% | ||||||
MONEY MARKET FUNDS – 1.9% | ||||||
6,317,677 | First American Government Obligations Fund, Class X, (4) | 0.252% (5) | $ 6,317,677 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $6,317,677) | 6,317,677 |
Shares | Description (1) | Coupon | Value | |||
SHORT-TERM INVESTMENTS – 1.2% | ||||||
MONEY MARKET FUNDS – 1.2% | ||||||
3,976,296 | First American Treasury Obligation Fund, Class Z | 0.134% (5) | $ 3,976,296 | |||
Total Short-Term Investments (cost $3,976,296) | 3,976,296 | |||||
Total Investments (cost $282,876,597) – 102.2% | 336,262,710 | |||||
Other Assets Less Liabilities – (2.2)% | (7,280,403) | |||||
Net Assets – 100% | $ 328,982,307 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | 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 $5,932,841. | |
(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. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information. | |
(5) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.9% | ||||||
COMMON STOCKS – 97.3% | ||||||
Aerospace & Defense – 3.5% | ||||||
155,079 | Kratos Defense & Security Solutions Inc, (2) | $2,329,286 | ||||
46,998 | Mercury Systems Inc, (2) | 4,190,342 | ||||
Total Aerospace & Defense | 6,519,628 | |||||
Air Freight & Logistics – 1.3% | ||||||
49,489 | Hub Group Inc, (2) | 2,380,916 | ||||
Banks – 1.0% | ||||||
50,630 | Preferred Bank/Los Angeles CA | 1,931,534 | ||||
Biotechnology – 8.5% | ||||||
37,721 | ACADIA Pharmaceuticals Inc, (2) | 1,822,302 | ||||
23,478 | Arena Pharmaceuticals Inc, (2) | 1,149,718 | ||||
7,354 | Argenx SE, Sponsored ADR | 1,077,287 | ||||
10,250 | Ascendis Pharma A/S, Sponsored ADR | 1,391,233 | ||||
23,793 | Blueprint Medicines Corp, (2) | 1,399,742 | ||||
17,923 | Emergent BioSolutions Inc, (2) | 1,325,406 | ||||
49,667 | Fate Therapeutics Inc, (2) | 1,359,882 | ||||
17,999 | Global Blood Therapeutics Inc, (2) | 1,377,283 | ||||
56,691 | Iovance Biotherapeutics Inc, (2) | 1,822,616 | ||||
69,519 | Momenta Pharmaceuticals Inc, (2) | 2,203,752 | ||||
23,018 | Zymeworks Inc, (2) | 840,848 | ||||
Total Biotechnology | 15,770,069 | |||||
Building Products – 3.7% | ||||||
28,843 | CSW Industrials Inc | 1,910,560 | ||||
40,070 | Gibraltar Industries Inc, (2) | 1,855,241 | ||||
31,867 | Trex Co Inc, (2) | 3,034,376 | ||||
Total Building Products | 6,800,177 | |||||
Capital Markets – 1.1% | ||||||
38,210 | Evercore Inc | 1,971,636 | ||||
Chemicals – 1.5% | ||||||
118,947 | PolyOne Corp | 2,770,276 | ||||
Commercial Services & Supplies – 2.2% | ||||||
38,953 | Casella Waste Systems Inc, (2) | 1,806,640 | ||||
31,074 | Tetra Tech Inc | 2,339,251 | ||||
Total Commercial Services & Supplies | 4,145,891 |
Shares | Description (1) | Value | ||||
Communications Equipment – 1.0% | ||||||
23,139 | Lumentum Holdings Inc, (2) | $ 1,872,176 | ||||
Construction & Engineering – 1.7% | ||||||
66,391 | MasTec Inc, (2) | 2,383,437 | ||||
23,433 | MYR Group Inc, (2) | 702,990 | ||||
Total Construction & Engineering | 3,086,427 | |||||
Diversified Consumer Services – 1.7% | ||||||
73,477 | Chegg Inc, (2) | 3,141,142 | ||||
Electrical Equipment – 1.3% | ||||||
32,939 | Regal Beloit Corp | 2,338,998 | ||||
Equity Real Estate Investment Trust – 4.3% | ||||||
70,790 | Healthcare Realty Trust Inc | 2,080,518 | ||||
40,020 | QTS Realty Trust Inc | 2,502,451 | ||||
80,356 | STAG Industrial Inc | 2,109,345 | ||||
207,987 | Summit Hotel Properties Inc | 1,260,401 | ||||
Total Equity Real Estate Investment Trust | 7,952,715 | |||||
Food & Staples Retailing – 1.0% | ||||||
64,699 | Performance Food Group Co, (2) | 1,898,916 | ||||
Food Products – 2.8% | ||||||
32,750 | Freshpet Inc, (2) | 2,469,678 | ||||
19,617 | Sanderson Farms Inc | 2,670,658 | ||||
Total Food Products | 5,140,336 | |||||
Health Care Equipment & Supplies – 7.5% | ||||||
43,596 | AtriCure Inc, (2) | 1,879,860 | ||||
79,105 | Establishment Labs Holdings Inc, (2), (3) | 1,382,755 | ||||
22,658 | iRhythm Technologies Inc, (2) | 2,393,591 | ||||
8,697 | Penumbra Inc, (2) | 1,542,152 | ||||
13,599 | Quidel Corp, (2) | 1,890,261 | ||||
68,842 | STAAR Surgical Co, (2) | 2,638,025 | ||||
44,688 | Tactile Systems Technology Inc, (2) | 2,306,795 | ||||
Total Health Care Equipment & Supplies | 14,033,439 | |||||
Health Care Providers & Services – 2.4% | ||||||
14,048 | Amedisys Inc, (2) | 2,587,080 | ||||
14,159 | LHC Group Inc, (2) | 1,840,528 | ||||
Total Health Care Providers & Services | 4,427,608 | |||||
Health Care Technology – 2.6% | ||||||
32,154 | Livongo Health Inc, (2) | 1,286,482 | ||||
20,680 | Omnicell Inc, (2) | 1,507,572 |
Shares | Description (1) | Value | ||||
Health Care Technology (continued) | ||||||
12,526 | Teladoc Health Inc, (2) | $ 2,061,654 | ||||
Total Health Care Technology | 4,855,708 | |||||
Hotels, Restaurants & Leisure – 5.0% | ||||||
34,640 | Jack in the Box Inc | 2,088,792 | ||||
40,571 | Planet Fitness Inc, (2) | 2,447,648 | ||||
46,096 | Texas Roadhouse Inc, (2) | 2,170,661 | ||||
22,896 | Wingstop Inc, (3) | 2,685,014 | ||||
Total Hotels, Restaurants & Leisure | 9,392,115 | |||||
Household Durables – 2.6% | ||||||
44,710 | Meritage Homes Corp, (2) | 2,349,958 | ||||
25,903 | TopBuild Corp, (2) | 2,413,900 | ||||
Total Household Durables | 4,763,858 | |||||
Insurance – 3.1% | ||||||
15,343 | eHealth Inc, (2), (3) | 1,637,098 | ||||
13,946 | Kinsale Capital Group Inc | 1,514,815 | ||||
44,170 | Palomar Holdings Inc, (2) | 2,583,945 | ||||
Total Insurance | 5,735,858 | |||||
IT Services – 2.5% | ||||||
47,110 | MAXIMUS Inc | 3,171,445 | ||||
174,844 | Verra Mobility Corp, (2) | 1,566,602 | ||||
Total IT Services | 4,738,047 | |||||
Leisure Products – 1.3% | ||||||
175,985 | Callaway Golf Co | 2,520,105 | ||||
Life Sciences Tools & Services – 2.2% | ||||||
95,373 | NeoGenomics Inc, (2) | 2,607,498 | ||||
12,733 | Repligen Corp, (2) | 1,478,938 | ||||
Total Life Sciences Tools & Services | 4,086,436 | |||||
Machinery – 3.5% | ||||||
24,206 | ESCO Technologies Inc | 1,846,918 | ||||
32,395 | John Bean Technologies Corp | 2,485,992 | ||||
57,611 | SPX Corp, (2) | 2,196,707 | ||||
Total Machinery | 6,529,617 | |||||
Media – 1.3% | ||||||
33,444 | Nexstar Media Group Inc | 2,342,418 | ||||
Multiline Retail – 1.2% | ||||||
32,753 | Ollie's Bargain Outlet Holdings Inc, (2) | 2,224,256 | ||||
Paper & Forest Products – 1.2% | ||||||
115,941 | Louisiana-Pacific Corp | 2,318,820 |
Shares | Description (1) | Value | ||||
Pharmaceuticals – 3.5% | ||||||
97,111 | Aerie Pharmaceuticals Inc, (2), (3) | $1,479,972 | ||||
101,906 | Horizon Therapeutics Plc, (2) | 3,672,692 | ||||
9,267 | MyoKardia Inc, (2) | 582,153 | ||||
5,175 | Reata Pharmaceuticals Inc, (2) | 818,478 | ||||
Total Pharmaceuticals | 6,553,295 | |||||
Road & Rail – 1.0% | ||||||
48,148 | Knight-Swift Transportation Holdings Inc | 1,790,143 | ||||
Semiconductors & Semiconductor Equipment – 5.2% | ||||||
38,999 | Inphi Corp, (2) | 3,764,963 | ||||
143,327 | Lattice Semiconductor Corp, (2) | 3,226,291 | ||||
86,349 | MACOM Technology Solutions Holdings Inc, (2) | 2,647,460 | ||||
Total Semiconductors & Semiconductor Equipment | 9,638,714 | |||||
Software – 10.8% | ||||||
23,796 | Avalara Inc, (2) | 2,126,649 | ||||
19,202 | Blackline Inc, (2) | 1,166,329 | ||||
16,184 | Everbridge Inc, (2) | 1,802,574 | ||||
37,700 | J2 Global Inc, (2) | 3,040,128 | ||||
25,436 | Q2 Holdings Inc, (2) | 2,027,758 | ||||
62,997 | Rapid7 Inc, (2) | 2,869,513 | ||||
42,131 | RealPage Inc, (2) | 2,717,028 | ||||
129,242 | Sailpoint Technologies Holdings Inc, (2) | 2,402,609 | ||||
28,654 | Varonis Systems Inc, (2) | 1,921,251 | ||||
591,081 | Videopropulsion Inc, (2), (4) | 591 | ||||
Total Software | 20,074,430 | |||||
Specialty Retail – 0.9% | ||||||
88,784 | Boot Barn Holdings Inc, (2) | 1,638,953 | ||||
Textiles, Apparel & Luxury Goods – 2.1% | ||||||
14,440 | Deckers Outdoor Corp, (2) | 2,148,095 | ||||
71,720 | Steven Madden Ltd | 1,798,020 | ||||
Total Textiles, Apparel & Luxury Goods | 3,946,115 | |||||
Trading Companies & Distributors – 0.8% | ||||||
29,046 | Applied Industrial Technology, Inc | 1,521,720 | ||||
Total Common Stocks (cost $160,872,198) | 180,852,492 |
Shares | Description (1), (5) | Value | ||||
EXCHANGE-TRADED FUNDS – 2.6% | ||||||
52,460 | SPDR S&P Biotech ETF | $ 4,899,239 | ||||
Total Exchange-Traded Funds (cost $4,060,330) | 4,899,239 | |||||
Total Long-Term Investments (cost $164,932,528) | 185,751,731 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 2.1% | ||||||
MONEY MARKET FUNDS – 2.1% | ||||||
3,858,037 | First American Government Obligations Fund, Class X, (6) | 0.252% (7) | $ 3,858,037 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $3,858,037) | 3,858,037 | |||||
Total Investments (cost $168,790,565) – 102.0% | 189,609,768 | |||||
Other Assets Less Liabilities – (2.0)% | (3,712,122) | |||||
Net Assets – 100% | $ 185,897,646 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | 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 $3,715,032. | |
(4) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 3 - Investment Valuation and Fair Value Measurements for more information. | |
(5) | A copy of the most recent financial statements for the exchange-traded funds in which the Fund invests can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov. | |
(6) | 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. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information. | |
(7) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. | |
ADR | American Depositary Receipt | |
ETF | Exchange-Traded Fund | |
SPDR | Standard & Poor's Depositary Receipt |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Assets | ||
Long-term investments, at value (cost $272,582,624 and $164,932,528, respectively) | $325,968,737 | $185,751,731 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | 6,317,677 | 3,858,037 |
Short-term investments, at value (cost approximates value) | 3,976,296 | — |
Receivable for: | ||
Dividends | 5,778 | 19,814 |
Due from affiliates | 30,529 | 19,221 |
Due from broker | 609 | 1,193 |
Interest | 449 | 221 |
Investments sold | 2,411,186 | 5,377,106 |
Shares sold | 492,931 | 94,608 |
Other assets | 102,642 | 42,794 |
Total assets | 339,306,834 | 195,164,725 |
Liabilities | ||
Cash overdraft | — | 1,146,419 |
Payable for: | ||
Collateral from securities lending program | 6,317,677 | 3,858,037 |
Investments purchased - regular settlement | 3,108,232 | 3,002,076 |
Shares redeemed | 384,066 | 988,564 |
Accrued expenses: | ||
Directors fees | 68,059 | 1,453 |
Management fees | 168,420 | 75,810 |
12b-1 distribution and service fees | 40,951 | 7,567 |
Other | 237,122 | 187,153 |
Total liabilities | 10,324,527 | 9,267,079 |
Net assets | $328,982,307 | $185,897,646 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Class A Shares | ||
Net assets | $159,026,902 | $ 32,750,402 |
Shares outstanding | 5,851,891 | 1,547,848 |
Net asset value ("NAV") per share | $ 27.18 | $ 21.16 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 28.84 | $ 22.45 |
Class C Shares | ||
Net assets | $ 4,985,647 | $ 1,441,868 |
Shares outstanding | 322,304 | 95,513 |
NAV and offering price per share | $ 15.47 | $ 15.10 |
Class R3 Shares | ||
Net assets | $ 18,096,302 | $ 1,210,309 |
Shares outstanding | 755,511 | 61,702 |
NAV and offering price per share | $ 23.95 | $ 19.62 |
Class R6 Shares | ||
Net assets | $ 23,931,148 | $ 2,662,999 |
Shares outstanding | 650,037 | 102,419 |
NAV and offering price per share | $ 36.82 | $ 26.00 |
Class I Shares | ||
Net assets | $122,942,308 | $147,832,068 |
Shares outstanding | 3,395,762 | 5,732,286 |
NAV and offering price per share | $ 36.20 | $ 25.79 |
Fund level net assets consist of: | ||
Capital paid-in | $270,486,509 | $169,511,468 |
Total distributable earnings | 58,495,798 | 16,386,178 |
Fund level net assets | $328,982,307 | $185,897,646 |
Authorized shares - per class | 2 billion | 2 billion |
Par value per share | $ 0.0001 | $ 0.0001 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Investment Income | ||
Dividends | $1,911,633 | $ 517,638 |
Interest | 15,057 | 12,833 |
Securities lending income | 13,101 | 13,938 |
Payment from affiliate | 30,529 | 19,221 |
Total investment income | 1,970,320 | 563,630 |
Expenses | ||
Management fees | 1,400,428 | 888,156 |
12b-1 service fees - Class A Shares | 207,760 | 42,488 |
12b-1 distribution and service fees - Class C Shares | 26,082 | 7,858 |
12b-1 distibution and service fees - Class R3 Shares | 50,000 | 3,231 |
Shareholder servicing agent fees | 257,844 | 197,617 |
Custodian fees | 25,390 | 19,226 |
Professional fees | 32,319 | 21,225 |
Directors fees | 3,718 | 2,355 |
Shareholder reporting expenses | 18,646 | 58,511 |
Federal and state registration fees | 41,373 | 46,045 |
Other | 4,195 | 1,670 |
Total expenses before fee waiver/expense reimbursement | 2,067,755 | 1,288,382 |
Fee waiver/expense reimbursement | (165,173) | (195,114) |
Net expenses | 1,902,582 | 1,093,268 |
Net investment income (loss) | 67,738 | (529,638) |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) from investments | 8,065,200 | (2,267,503) |
Change in net unrealized appreciation (depreciation) of investments | (781,838) | 2,518,517 |
Net realized and unrealized gain (loss) | 7,283,362 | 251,014 |
Net increase (decrease) in net assets from operations | $7,351,100 | $ (278,624) |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | ||||
Six Months Ended 4/30/20 | Year Ended 10/31/19 | Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||
Operations | |||||
Net investment income (loss) | $ 67,738 | $ (1,147,939) | $ (529,638) | $ (728,025) | |
Net realized gain (loss) from investments | 8,065,200 | 84,972,569 | (2,267,503) | (842,975) | |
Change in net unrealized appreciation (depreciation) of investments | (781,838) | (27,405,591) | 2,518,517 | 7,571,292 | |
Net increase (decrease) in net assets from operations | 7,351,100 | 56,419,039 | (278,624) | 6,000,292 | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (36,832,892) | (33,688,438) | — | (5,069,832) | |
Class C Shares | (1,779,313) | (1,845,779) | — | (375,076) | |
Class R3 Shares | (5,055,764) | (4,617,499) | — | (170,130) | |
Class R6 Shares | (4,121,288) | (7,948,731) | — | (1,183,722) | |
Class I Shares | (25,757,305) | (42,429,100) | — | (6,735,701) | |
Decrease in net assets from distributions to shareholders | (73,546,562) | (90,529,547) | — | (13,534,461) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 18,732,890 | 45,420,126 | 31,459,917 | 141,918,570 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 68,352,667 | 82,717,140 | — | 10,691,877 | |
87,085,557 | 128,137,266 | 31,459,917 | 152,610,447 | ||
Cost of shares redeemed | (84,611,739) | (319,546,880) | (54,802,547) | (46,024,192) | |
Net increase (decrease) in net assets from Fund share transactions | 2,473,818 | (191,409,614) | (23,342,630) | 106,586,255 | |
Net increase (decrease) in net assets | (63,721,644) | (225,520,122) | (23,621,254) | 99,052,086 | |
Net assets at the beginning of period | 392,703,951 | 618,224,073 | 209,518,900 | 110,466,814 | |
Net assets at the end of period | $328,982,307 | $ 392,703,951 | $185,897,646 | $209,518,900 |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended October 31 | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (01/95) | |||||||||
2020(f) | $33.66 | $(0.01) | $ 0.87 | $ 0.86 | $ — | $(7.34) | $(7.34) | $27.18 | |
2019 | 36.79 | (0.12) | 3.48 | 3.36 | — | (6.49) | (6.49) | 33.66 | |
2018 | 43.45 | (0.20) | 1.16 | 0.96 | — | (7.62) | (7.62) | 36.79 | |
2017 | 36.09 | (0.17) | 9.20 | 9.03 | — | (1.67) | (1.67) | 43.45 | |
2016 | 40.91 | (0.12) | (1.36) | (1.48) | — | (3.34) | (3.34) | 36.09 | |
2015 | 47.67 | (0.31) | 1.72 | 1.41 | — | (8.17) | (8.17) | 40.91 | |
Class C (09/01) | |||||||||
2020(f) | 22.20 | (0.07) | 0.68 | 0.61 | — | (7.34) | (7.34) | 15.47 | |
2019 | 26.85 | (0.24) | 2.08 | 1.84 | — | (6.49) | (6.49) | 22.20 | |
2018 | 33.94 | (0.36) | 0.89 | 0.53 | — | (7.62) | (7.62) | 26.85 | |
2017 | 28.74 | (0.36) | 7.23 | 6.87 | — | (1.67) | (1.67) | 33.94 | |
2016 | 33.50 | (0.31) | (1.11) | (1.42) | — | (3.34) | (3.34) | 28.74 | |
2015 | 40.77 | (0.52) | 1.42 | 0.90 | — | (8.17) | (8.17) | 33.50 | |
Class R3 (12/00) | |||||||||
2020(f) | 30.52 | (0.04) | 0.81 | 0.77 | — | (7.34) | (7.34) | 23.95 | |
2019 | 34.10 | (0.18) | 3.09 | 2.91 | — | (6.49) | (6.49) | 30.52 | |
2018 | 40.90 | (0.28) | 1.10 | 0.82 | — | (7.62) | (7.62) | 34.10 | |
2017 | 34.14 | (0.25) | 8.68 | 8.43 | — | (1.67) | (1.67) | 40.90 | |
2016 | 38.98 | (0.20) | (1.30) | (1.50) | — | (3.34) | (3.34) | 34.14 | |
2015 | 45.90 | (0.40) | 1.65 | 1.25 | — | (8.17) | (8.17) | 38.98 | |
Class R6 (02/13) | |||||||||
2020(f) | 43.07 | 0.06 | 1.03 | 1.09 | — | (7.34) | (7.34) | 36.82 | |
2019 | 44.94 | 0.01 | 4.61 | 4.62 | — | (6.49) | (6.49) | 43.07 | |
2018 | 51.24 | (0.05) | 1.37 | 1.32 | — | (7.62) | (7.62) | 44.94 | |
2017 | 42.11 | (0.02) | 10.82 | 10.80 | — | (1.67) | (1.67) | 51.24 | |
2016 | 47.00 | 0.06 | (1.61) | (1.55) | — | (3.34) | (3.34) | 42.11 | |
2015 | 53.36 | (0.16) | 1.97 | 1.81 | — | (8.17) | (8.17) | 47.00 | |
Class I (12/89) | |||||||||
2020(f) | 42.49 | 0.04 | 1.01 | 1.05 | — | (7.34) | (7.34) | 36.20 | |
2019 | 44.49 | (0.05) | 4.54 | 4.49 | — | (6.49) | (6.49) | 42.49 | |
2018 | 50.85 | (0.12) | 1.38 | 1.26 | — | (7.62) | (7.62) | 44.49 | |
2017 | 41.87 | (0.08) | 10.73 | 10.65 | — | (1.67) | (1.67) | 50.85 | |
2016 | 46.81 | (0.04) | (1.56) | (1.60) | — | (3.34) | (3.34) | 41.87 | |
2015 | 53.24 | (0.23) | 1.97 | 1.74 | — | (8.17) | (8.17) | 46.81 |
Ratios/Supplemental Data | |||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
1.64% | $159,027 | 1.26%* | (0.16)%* | (0.18)%* | 1.17%* | (0.07)%* | (0.08)%* | 37% | |
13.43 | 172,912 | 1.24 | (0.42) | N/A | 1.17 | (0.35) | N/A | 90 | |
2.35 | 196,212 | 1.23 | (0.56) | N/A | 1.17 | (0.51) | N/A | 106 | |
25.89 | 250,908 | 1.23 | (0.48) | N/A | 1.17 | (0.43) | N/A | 136 | |
(3.78) | 280,681 | 1.29 | (0.35) | N/A | 1.27 | (0.33) | N/A | 89 | |
3.68 | 365,394 | 1.30 | (0.72) | N/A | 1.30 | (0.72) | N/A | 118 | |
1.28 | 4,986 | 2.01* | (0.91)* | (0.93)* | 1.92* | (0.82)* | (0.84)* | 37 | |
12.58 | 5,664 | 2.00 | (1.18) | N/A | 1.92 | (1.11) | N/A | 90 | |
1.60 | 7,936 | 1.98 | (1.30) | N/A | 1.92 | (1.25) | N/A | 106 | |
24.95 | 16,278 | 1.98 | (1.23) | N/A | 1.92 | (1.18) | N/A | 136 | |
(4.50) | 16,956 | 2.04 | (1.10) | N/A | 2.02 | (1.08) | N/A | 89 | |
2.91 | 22,284 | 2.05 | (1.47) | N/A | 2.05 | (1.47) | N/A | 118 | |
1.53 | 18,096 | 1.51* | (0.40)* | (0.41)* | 1.42* | (0.30)* | (0.32)* | 37 | |
13.15 | 22,135 | 1.50 | (0.68) | N/A | 1.42 | (0.61) | N/A | 90 | |
2.09 | 26,098 | 1.48 | (0.81) | N/A | 1.42 | (0.76) | N/A | 106 | |
25.60 | 35,402 | 1.48 | (0.72) | N/A | 1.42 | (0.66) | N/A | 136 | |
(4.04) | 55,093 | 1.54 | (0.59) | N/A | 1.52 | (0.57) | N/A | 89 | |
3.43 | 54,866 | 1.55 | (0.98) | N/A | 1.55 | (0.98) | N/A | 118 | |
1.84 | 23,931 | 0.88* | 0.22* | 0.20* | 0.79* | 0.31* | 0.29* | 37 | |
13.85 | 26,329 | 0.86 | (0.05) | N/A | 0.79 | 0.02 | N/A | 90 | |
2.75 | 56,250 | 0.84 | (0.17) | N/A | 0.78 | (0.11) | N/A | 106 | |
26.41 | 72,703 | 0.84 | (0.09) | N/A | 0.78 | (0.03) | N/A | 136 | |
(3.41) | 50,677 | 0.89 | 0.12 | N/A | 0.86 | 0.14 | N/A | 89 | |
4.09 | 31,167 | 0.92 | (0.33) | N/A | 0.92 | (0.33) | N/A | 118 | |
1.76 | 122,942 | 1.01* | 0.10* | 0.09* | 0.92* | 0.19* | 0.18* | 37 | |
13.73 | 165,663 | 1.00 | (0.19) | N/A | 0.92 | (0.12) | N/A | 90 | |
2.61 | 331,728 | 0.98 | (0.31) | N/A | 0.92 | (0.26) | N/A | 106 | |
26.20 | 425,158 | 0.98 | (0.23) | N/A | 0.92 | (0.18) | N/A | 136 | |
(3.54) | 491,747 | 1.04 | (0.10) | N/A | 1.02 | (0.08) | N/A | 89 | |
3.95 | 730,560 | 1.05 | (0.47) | N/A | 1.05 | (0.47) | N/A | 118 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
(f) | For the six months ended April 30, 2020. |
* | Annualized. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended October 31, 2020. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended October 31 | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (08/95) | |||||||||
2020(f) | $20.96 | $(0.08) | $0.28 | $ 0.20 | $ — | $ — | $ — | $21.16 | |
2019 | 23.54 | (0.14) | 0.84 | 0.70 | — | (3.28) | (3.28) | 20.96 | |
2018 | 24.78 | (0.17) | 1.94 | 1.77 | — | (3.01) | (3.01) | 23.54 | |
2017 | 19.90 | (0.16) | 5.14 | 4.98 | — | (0.10) | (0.10) | 24.78 | |
2016 | 21.57 | (0.10) | 0.45 | 0.35 | — | (2.02) | (2.02) | 19.90 | |
2015 | 24.41 | (0.22) | 0.33 | 0.11 | — | (2.95) | (2.95) | 21.57 | |
Class C (09/01) | |||||||||
2020(f) | 15.01 | (0.11) | 0.20 | 0.09 | — | — | — | 15.10 | |
2019 | 18.01 | (0.21) | 0.49 | 0.28 | — | (3.28) | (3.28) | 15.01 | |
2018 | 19.79 | (0.27) | 1.50 | 1.23 | — | (3.01) | (3.01) | 18.01 | |
2017 | 16.02 | (0.26) | 4.13 | 3.87 | — | (0.10) | (0.10) | 19.79 | |
2016 | 17.89 | (0.20) | 0.35 | 0.15 | — | (2.02) | (2.02) | 16.02 | |
2015 | 20.89 | (0.33) | 0.28 | (0.05) | — | (2.95) | (2.95) | 17.89 | |
Class R3 (12/00) | |||||||||
2020(f) | 19.45 | (0.09) | 0.26 | 0.17 | — | — | — | 19.62 | |
2019 | 22.16 | (0.18) | 0.75 | 0.57 | — | (3.28) | (3.28) | 19.45 | |
2018 | 23.56 | (0.22) | 1.83 | 1.61 | — | (3.01) | (3.01) | 22.16 | |
2017 | 18.97 | (0.21) | 4.90 | 4.69 | — | (0.10) | (0.10) | 23.56 | |
2016 | 20.71 | (0.14) | 0.42 | 0.28 | — | (2.02) | (2.02) | 18.97 | |
2015 | 23.60 | (0.27) | 0.33 | 0.06 | — | (2.95) | (2.95) | 20.71 | |
Class R6 (06/16) | |||||||||
2020(f) | 25.69 | (0.03) | 0.34 | 0.31 | — | — | — | 26.00 | |
2019 | 27.88 | (0.05) | 1.14 | 1.09 | — | (3.28) | (3.28) | 25.69 | |
2018 | 28.72 | (0.10) | 2.27 | 2.17 | — | (3.01) | (3.01) | 27.88 | |
2017 | 22.96 | (0.08) | 5.94 | 5.86 | — | (0.10) | (0.10) | 28.72 | |
2016 | 21.63 | (0.02) | 1.35 | 1.33 | — | — | — | 22.96 | |
Class I (08/95) | |||||||||
2020(f) | 25.51 | (0.06) | 0.34 | 0.28 | — | — | — | 25.79 | |
2019 | 27.79 | (0.10) | 1.10 | 1.00 | — | (3.28) | (3.28) | 25.51 | |
2018 | 28.66 | (0.13) | 2.27 | 2.14 | — | (3.01) | (3.01) | 27.79 | |
2017 | 22.94 | (0.12) | 5.94 | 5.82 | — | (0.10) | (0.10) | 28.66 | |
2016 | 24.51 | (0.06) | 0.51 | 0.45 | — | (2.02) | (2.02) | 22.94 | |
2015 | 27.26 | (0.19) | 0.39 | 0.20 | — | (2.95) | (2.95) | 24.51 |
Ratios/Supplemental Data | |||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
1.00% | $ 32,750 | 1.40%* | (0.89)%* | (0.90)%* | 1.22%* | (0.70)%* | (0.72)%* | 51% | |
5.47 | 34,249 | 1.39 | (0.84) | N/A | 1.23 | (0.68) | N/A | 104 | |
7.89 | 36,452 | 1.38 | (0.86) | N/A | 1.24 | (0.72) | N/A | 139 | |
25.07 | 34,934 | 1.41 | (0.80) | N/A | 1.30 | (0.69) | N/A | 95 | |
1.90 | 31,255 | 1.48 | (0.58) | N/A | 1.42 | (0.52) | N/A | 106 | |
0.72 | 33,922 | 1.50 | (1.00) | N/A | 1.47 | (0.97) | N/A | 128 | |
0.60 | 1,442 | 2.15* | (1.63)* | (1.65)* | 1.97* | (1.45)* | (1.46)* | 51 | |
4.74 | 1,631 | 2.14 | (1.59) | N/A | 1.98 | (1.43) | N/A | 104 | |
7.05 | 2,141 | 2.13 | (1.60) | N/A | 1.99 | (1.46) | N/A | 139 | |
24.21 | 2,181 | 2.16 | (1.55) | N/A | 2.05 | (1.44) | N/A | 95 | |
1.10 | 1,971 | 2.23 | (1.32) | N/A | 2.18 | (1.27) | N/A | 106 | |
(0.03) | 2,278 | 2.25 | (1.75) | N/A | 2.22 | (1.72) | N/A | 128 | |
0.87 | 1,210 | 1.65* | (1.13)* | (1.15)* | 1.47* | (0.95)* | (0.97)* | 51 | |
5.23 | 1,253 | 1.64 | (1.10) | N/A | 1.48 | (0.94) | N/A | 104 | |
7.60 | 1,206 | 1.63 | (1.11) | N/A | 1.49 | (0.97) | N/A | 139 | |
24.77 | 1,608 | 1.66 | (1.05) | N/A | 1.55 | (0.94) | N/A | 95 | |
1.62 | 1,631 | 1.73 | (0.83) | N/A | 1.67 | (0.78) | N/A | 106 | |
0.50 | 1,439 | 1.75 | (1.26) | N/A | 1.72 | (1.23) | N/A | 128 | |
1.21 | 2,663 | 0.97* | (0.42)* | (0.43)* | 0.80* | (0.25)* | (0.26)* | 51 | |
6.13 | 144 | 1.01 | (0.35) | N/A | 0.85 | (0.19) | N/A | 104 | |
8.24 | 14,475 | 1.03 | (0.50) | N/A | 0.88 | (0.35) | N/A | 139 | |
25.56 | 19,108 | 1.04 | (0.43) | N/A | 0.93 | (0.32) | N/A | 95 | |
6.15 | 19,524 | 1.02* | (0.29)* | N/A | 0.96* | (0.23)* | N/A | 106 | |
1.10 | 147,832 | 1.15* | (0.63)* | (0.65)* | 0.97* | (0.45)* | (0.46)* | 51 | |
5.78 | 172,242 | 1.13 | (0.56) | N/A | 0.98 | (0.41) | N/A | 104 | |
8.14 | 56,194 | 1.13 | (0.60) | N/A | 0.99 | (0.46) | N/A | 139 | |
25.41 | 43,557 | 1.16 | (0.56) | N/A | 1.05 | (0.44) | N/A | 95 | |
2.10 | 34,468 | 1.24 | (0.32) | N/A | 1.19 | (0.26) | N/A | 106 | |
1.00 | 62,403 | 1.25 | (0.75) | N/A | 1.22 | (0.71) | N/A | 128 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
(f) | For the six months ended April 30, 2020. |
* | Annualized. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended October 31, 2020. |
Mid Cap Growth Opportunities | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $325,968,737 | $ — | $ — | $325,968,737 |
Investments Purchased with Collateral from Securities Lending | 6,317,677 | — | — | 6,317,677 |
Short-Term Investments: | ||||
Money Market Funds | 3,976,296 | — | — | 3,976,296 |
Total | $336,262,710 | $ — | $ — | $336,262,710 |
Small Cap Growth Opportunities | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $180,851,901 | $ — | $ 591** | $180,852,492 |
Exchange-Traded Funds | 4,899,239 | — | — | 4,899,239 |
Investments Purchased with Collateral from Securities Lending | 3,858,037 | — | — | 3,858,037 |
Total | $189,609,177 | $ — | $ 591 | $189,609,768 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 3. |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Collateral Pledged (From) Counterparty* | Net Exposure |
Mid Cap Growth Opportunities | Common Stocks | $5,932,841 | $(5,932,841) | $ — |
Small Cap Growth Opportunities | Common Stocks | $3,715,032 | $(3,715,032) | $ — |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Purchases | $130,214,280 | $108,863,002 |
Sales | 201,519,416 | 132,276,115 |
Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||||
Mid Cap Growth Opportunities | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 181,268 | $ 5,026,466 | 381,375 | $ 12,098,040 | |
Class A – automatic conversion of Class C Shares | 583 | 17,452 | 998 | 34,101 | |
Class C | 30,039 | 483,579 | 47,996 | 973,428 | |
Class R3 | 75,966 | 1,812,135 | 161,505 | 4,630,162 | |
Class R6 | 29,634 | 1,119,889 | 75,575 | 3,119,375 | |
Class I | 273,455 | 10,273,369 | 606,951 | 24,565,020 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 1,279,600 | 36,289,441 | 1,226,272 | 33,170,652 | |
Class C | 105,468 | 1,707,529 | 99,901 | 1,794,220 | |
Class R3 | 202,069 | 5,055,764 | 184,336 | 4,530,984 | |
Class R6 | 107,409 | 4,121,288 | 230,398 | 7,948,731 | |
Class I | 561,023 | 21,178,645 | 1,034,993 | 35,272,553 | |
2,846,514 | 87,085,557 | 4,050,300 | 128,137,266 | ||
Shares redeemed: | |||||
Class A | (747,320) | (21,541,111) | (1,803,821) | (58,701,202) | |
Class C | (67,368) | (1,200,572) | (186,840) | (3,953,792) | |
Class C – automatic conversion to Class A Shares | (979) | (17,452) | (1,478) | (34,101) | |
Class R3 | (247,869) | (6,223,994) | (385,941) | (11,739,558) | |
Class R6 | (98,358) | (4,064,564) | (946,169) | (35,233,404) | |
Class I | (1,337,421) | (51,564,046) | (5,199,942) | (209,884,823) | |
(2,499,315) | (84,611,739) | (8,524,191) | (319,546,880) | ||
Net increase (decrease) | 347,199 | $ 2,473,818 | (4,473,891) | $(191,409,614) |
Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||||
Small Cap Growth Opportunities | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 55,586 | $ 1,135,828 | 86,241 | $ 1,757,412 | |
Class A – automatic conversion of Class C Shares | 76 | 1,647 | 86 | 1,959 | |
Class C | 9,771 | 138,470 | 25,260 | 374,828 | |
Class R3 | 8,031 | 158,610 | 68,017 | 1,198,396 | |
Class R6 | 273,080 | 7,172,986 | 397 | 10,095 | |
Class I | 879,886 | 22,852,376 | 5,485,979 | 138,575,880 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | — | — | 278,640 | 4,940,279 | |
Class C | — | — | 29,198 | 373,153 | |
Class R3 | — | — | 10,176 | 167,910 | |
Class R6 | — | — | 54,751 | 1,183,722 | |
Class I | — | — | 186,946 | 4,026,813 | |
1,226,430 | 31,459,917 | 6,225,691 | 152,610,447 | ||
Shares redeemed: | |||||
Class A | (142,214) | (3,072,783) | (279,297) | (5,605,855) | |
Class C | (22,824) | (345,006) | (64,540) | (982,334) | |
Class C – automatic conversion to Class A Shares | (107) | (1,647) | (113) | (1,959) | |
Class R3 | (10,761) | (210,125) | (68,171) | (1,262,093) | |
Class R6 | (176,255) | (4,861,755) | (568,741) | (14,947,424) | |
Class I | (1,899,385) | (46,311,231) | (943,081) | (23,224,527) | |
(2,251,546) | (54,802,547) | (1,923,943) | (46,024,192) | ||
Net increase (decrease) | (1,025,116) | $(23,342,630) | 4,301,748 | $106,586,255 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Tax cost of investments | $285,121,385 | $169,135,530 |
Gross unrealized: | ||
Appreciation | $ 67,469,512 | $ 32,356,358 |
Depreciation | (16,328,187) | (11,882,120) |
Net unrealized appreciation (depreciation) of investments | $ 51,141,325 | $ 20,474,238 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Undistributed net ordinary income1 | $ — | $ — |
Undistributed net long-term capital gains | 73,785,007 | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Distributions from net ordinary income1 | $14,130,332 | $ 2,671,096 |
Distributions from net long-term capital gains | 76,399,215 | 10,863,365 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Small Cap Growth Opportunities | |
Not subject to expiration: | |
Short-term | $674,567 |
Long-term | — |
Total | $674,567 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Post-October capital losses2 | $ — | $ — |
Late-year ordinary losses3 | 951,826 | 616,369 |
2 | Capital losses incurred from November 1, 2018 through October 31, 2019, the Funds' last tax year end. |
3 | Ordinary losses incurred from January 1, 2019 through October 31, 2019 and/or specified losses incurred from November 1, 2018 through October 31, 2019. |
Average Daily Net Assets | Mid Cap Growth Opportunities | Small Cap Growth Opportunities |
For the first $125 million | 0.6000% | 0.6500% |
For the next $125 million | 0.5875 | 0.6375 |
For the next $250 million | 0.5750 | 0.6250 |
For the next $500 million | 0.5625 | 0.6125 |
For the next $1 billion | 0.5500 | 0.6000 |
For the next $3 billion | 0.5250 | 0.5750 |
For the next $2.5 billion | 0.5000 | 0.5500 |
For the next $2.5 billion | 0.4875 | 0.5375 |
For net assets over $10 billion | 0.4750 | 0.5250 |
Complex-Level Eligible Asset Breakpoint Level* | Effective Complex-Level Fee Rate at Breakpoint Level |
$55 billion | 0.2000% |
$56 billion | 0.1996 |
$57 billion | 0.1989 |
$60 billion | 0.1961 |
$63 billion | 0.1931 |
$66 billion | 0.1900 |
$71 billion | 0.1851 |
$76 billion | 0.1806 |
$80 billion | 0.1773 |
$91 billion | 0.1691 |
$125 billion | 0.1599 |
$200 billion | 0.1505 |
$250 billion | 0.1469 |
$300 billion | 0.1445 |
Fund | Complex-Level Fee |
Mid Cap Growth Opportunities | 0.2000% |
Small Cap Growth Opportunities | 0.1864% |
Fund | Expense Cap | Expense Cap Expiration Date |
Mid Cap Growth Opportunities | 0.92% | July 31, 2021 |
Small Cap Growth Opportunities | 0.99% | July 31, 2021 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Sales charges collected | $29,683 | $4,559 |
Paid to financial intermediaries | 26,500 | 3,978 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Commission advances | $3,146 | $858 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
12b-1 fees retained | $1,132 | $1,021 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
CDSC retained | $ — | $1,057 |
Serving Investors for Generations
Fund Name | Class A | Class C | Class R3 | Class R6 | Class I |
Nuveen Large Cap Select Fund | FLRAX | FLYCX | — | — | FLRYX |
Nuveen Small Cap Select Fund | EMGRX | FHMCX | ASEIX | ASEFX | ARSTX |
Total Returns as of April 30, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 1/31/03 | (4.87)% | (2.59)% | 7.94% | 10.25% | 1.20% | 1.06% | ||
Class A Shares at maximum Offering Price | 1/31/03 | (10.33)% | (8.19)% | 6.67% | 9.60% | — | — | ||
S&P 500® Index | — | (3.16)% | 0.86% | 9.12% | 11.69% | — | — | ||
Lipper Large-Cap Core Funds Classification Average | — | (4.31)% | (1.14)% | 7.43% | 10.18% | — | — | ||
Class C Shares | 1/31/03 | (5.21)% | (3.33)% | 7.14% | 9.43% | 1.95% | 1.81% | ||
Class I Shares | 1/31/03 | (4.74)% | (2.34)% | 8.21% | 10.52% | 0.95% | 0.81% |
Total Returns as of April 30, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 5/06/92 | (15.19)% | (14.85)% | 3.06% | 7.28% | 1.42% | 1.24% | ||
Class A Shares at maximum Offering Price | 5/06/92 | (20.06)% | (19.76)% | 1.84% | 6.65% | — | — | ||
Russell 2000® Index | — | (15.47)% | (16.39)% | 2.88% | 7.69% | — | — | ||
Lipper Small-Cap Core Funds Classification Average | — | (19.34)% | (19.88)% | 0.83% | 6.36% | — | — | ||
Class C Shares | 9/24/01 | (15.51)% | (15.51)% | 2.27% | 6.48% | 2.17% | 1.99% | ||
Class R3 Shares | 1/03/94 | (15.28)% | (15.16)% | 2.79% | 7.01% | 1.68% | 1.49% | ||
Class I Shares | 5/06/92 | (14.98)% | (14.66)% | 3.31% | 7.56% | 1.17% | 0.99% |
Total Returns as of April 30, 2020* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 2/28/18 | (14.91)% | (14.50)% | (3.96)% | 1.03% | 0.85% |
Fund Allocation (% of net assets) | |
Common Stocks | 100.1% |
Money Market Funds | 0.1% |
Other Assets Less Liabilities | (0.2)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Interactive Media & Services | 9.6% |
Health Care Providers & Services | 9.4% |
Semiconductors & Semiconductor Equipment | 8.5% |
Internet & Direct Marketing Retail | 8.0% |
IT Services | 7.8% |
Software | 5.7% |
Biotechnology | 5.2% |
Insurance | 4.0% |
Electric Utilities | 4.0% |
Pharmaceuticals | 3.9% |
Capital Markets | 2.9% |
Beverages | 2.4% |
Multiline Retail | 2.4% |
Tobacco | 2.3% |
Wireless Telecommunication Services | 2.2% |
Specialty Retail | 2.2% |
Other | 19.6% |
Money Market Funds | 0.1% |
Other Assets Less Liabilities | (0.2)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Amazoncom Inc | 6.5% |
Alphabet Inc | 5.4% |
Facebook Inc | 4.2% |
Mastercard Inc | 3.9% |
UnitedHealth Group Inc | 3.6% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.7% |
Exchange-Traded Funds | 1.0% |
Money Market Funds | 1.2% |
Other Assets Less Liabilities | (0.9)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 8.5% |
Equity Real Estate Investment Trust | 7.1% |
Software | 6.7% |
Biotechnology | 6.7% |
Pharmaceuticals | 5.1% |
Health Care Equipment & Supplies | 4.1% |
Semiconductors & Semiconductor Equipment | 4.0% |
IT Services | 2.8% |
Machinery | 2.8% |
Commercial Services & Supplies | 2.7% |
Food Products | 2.6% |
Household Durables | 2.5% |
Capital Markets | 2.5% |
Construction & Engineering | 2.4% |
Gas Utilities | 2.4% |
Hotels, Restaurants & Leisure | 2.4% |
Chemicals | 2.2% |
Building Products | 2.2% |
Insurance | 2.1% |
Health Care Technology | 2.0% |
Multi-Utilities | 1.7% |
Textiles, Apparel & Luxury Goods | 1.6% |
Specialty Retail | 1.6% |
Electrical Equipment | 1.5% |
Other | 19.5% |
Money Market Funds | 1.2% |
Other Assets Less Liabilities | (0.9)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Horizon Therapeutics Plc | 2.6% |
Lattice Semiconductor Corp | 2.1% |
MAXIMUS Inc | 1.9% |
MACOM Technology Solutions Holdings Inc | 1.9% |
STAG Industrial Inc | 1.9% |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $ 951.25 | $ 947.94 | $ 952.60 |
Expenses Incurred During the Period | $ 5.53 | $ 9.15 | $ 4.32 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.19 | $1,015.47 | $1,020.44 |
Expenses Incurred During the Period | $ 5.72 | $ 9.47 | $ 4.47 |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $ 848.15 | $ 844.87 | $ 847.18 | $ 850.91 | $ 850.18 |
Expenses Incurred During the Period | $ 5.70 | $ 9.13 | $ 6.84 | $ 3.82 | $ 4.55 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,018.70 | $1,014.97 | $1,017.45 | $1,020.74 | $1,019.94 |
Expenses Incurred During the Period | $ 6.22 | $ 9.97 | $ 7.47 | $ 4.17 | $ 4.97 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 100.1% | ||||||
COMMON STOCKS – 100.1% | ||||||
Aerospace & Defense – 2.0% | ||||||
4,228 | L3Harris Technologies Inc | $ 818,964 | ||||
Banks – 1.4% | ||||||
12,007 | Citigroup Inc | 583,060 | ||||
Beverages – 2.4% | ||||||
10,692 | Keurig Dr Pepper Inc | 282,910 | ||||
11,055 | Monster Beverage Corp, (2) | 683,310 | ||||
Total Beverages | 966,220 | |||||
Biotechnology – 5.2% | ||||||
11,891 | AbbVie Inc | 977,440 | ||||
1,530 | Biogen Inc, (2) | 454,150 | ||||
2,592 | Vertex Pharmaceuticals Inc, (2) | 651,110 | ||||
Total Biotechnology | 2,082,700 | |||||
Capital Markets – 2.9% | ||||||
13,981 | Bank of New York Mellon Corp | 524,847 | ||||
16,527 | Morgan Stanley | 651,659 | ||||
Total Capital Markets | 1,176,506 | |||||
Chemicals – 1.0% | ||||||
14,578 | CF Industries Holdings Inc | 400,895 | ||||
Communications Equipment – 1.5% | ||||||
4,091 | Motorola Solutions Inc | 588,327 | ||||
Consumer Finance – 1.1% | ||||||
7,094 | Capital One Financial Corp | 459,407 | ||||
Diversified Financial Services – 0.9% | ||||||
7,889 | Voya Financial Inc | 356,346 | ||||
Diversified Telecommunication Services – 1.0% | ||||||
7,197 | Verizon Communications Inc | 413,468 | ||||
Electric Utilities – 4.0% | ||||||
8,996 | American Electric Power Co Inc | 747,658 | ||||
22,752 | Exelon Corp | 843,644 | ||||
Total Electric Utilities | 1,591,302 |
Shares | Description (1) | Value | ||||
Equity Real Estate Investment Trust – 1.7% | ||||||
4,270 | Crown Castle International Corp | $ 680,766 | ||||
Food Products – 1.8% | ||||||
11,988 | Tyson Foods Inc | 745,534 | ||||
Health Care Providers & Services – 9.4% | ||||||
6,756 | Cigna Corp | 1,322,689 | ||||
2,618 | Humana Inc | 999,605 | ||||
4,991 | UnitedHealth Group Inc | 1,459,718 | ||||
Total Health Care Providers & Services | 3,782,012 | |||||
Hotels, Restaurants & Leisure – 1.0% | ||||||
15,519 | Wyndham Destinations Inc | 396,821 | ||||
Household Durables – 1.2% | ||||||
34,438 | Newell Brands Inc | 477,999 | ||||
Insurance – 4.0% | ||||||
5,568 | Allstate Corp | 566,377 | ||||
14,953 | Hartford Financial Services Group Inc | 568,064 | ||||
4,844 | Marsh & McLennan Cos Inc | 471,467 | ||||
Total Insurance | 1,605,908 | |||||
Interactive Media & Services – 9.6% | ||||||
1,622 | Alphabet Inc, (2) | 2,184,347 | ||||
8,171 | Facebook Inc, (2) | 1,672,686 | ||||
Total Interactive Media & Services | 3,857,033 | |||||
Internet & Direct Marketing Retail – 8.0% | ||||||
2,936 | Alibaba Group Holding Ltd, Sponsored ADR | 595,039 | ||||
1,059 | Amazoncom Inc, (2) | 2,619,966 | ||||
Total Internet & Direct Marketing Retail | 3,215,005 | |||||
IT Services – 7.8% | ||||||
11,480 | Fiserv Inc, (2) | 1,183,129 | ||||
6,841 | GDS Holdings Ltd, ADR | 392,126 | ||||
5,743 | Mastercard Inc | 1,579,153 | ||||
Total IT Services | 3,154,408 | |||||
Media – 1.4% | ||||||
21,775 | Altice USA Inc, (2) | 565,497 | ||||
Mortgage Real Estate Investment Trust – 0.5% | ||||||
17,334 | AGNC Investment Corp | 215,288 | ||||
Multiline Retail – 2.4% | ||||||
8,792 | Target Corp | 964,834 |
Shares | Description (1) | Value | ||||
Multi-Utilities – 1.8% | ||||||
9,250 | Dominion Energy Inc | $ 713,452 | ||||
Pharmaceuticals – 3.9% | ||||||
16,129 | AstraZeneca PLC, Sponsored ADR | 843,224 | ||||
12,186 | Bristol-Myers Squibb Co | 741,031 | ||||
Total Pharmaceuticals | 1,584,255 | |||||
Road & Rail – 1.3% | ||||||
3,934 | Kansas City Southern | 513,584 | ||||
Semiconductors & Semiconductor Equipment – 8.5% | ||||||
20,393 | Intel Corp | 1,223,172 | ||||
3,051 | NVIDIA Corp | 891,746 | ||||
5,890 | NXP Semiconductors NV | 586,467 | ||||
13,368 | Taiwan Semiconductor Manufacturing Co Ltd, Sponsored ADR | 710,242 | ||||
Total Semiconductors & Semiconductor Equipment | 3,411,627 | |||||
Software – 5.7% | ||||||
1,872 | Adobe Inc, (2) | 662,014 | ||||
3,338 | Proofpoint Inc, (2) | 406,335 | ||||
4,257 | salesforcecom Inc, (2) | 689,421 | ||||
1,567 | ServiceNow Inc, (2) | 550,863 | ||||
Total Software | 2,308,633 | |||||
Specialty Retail – 2.2% | ||||||
4,017 | Home Depot Inc | 883,057 | ||||
Tobacco – 2.3% | ||||||
12,186 | Philip Morris International Inc | 909,076 | ||||
Wireless Telecommunication Services – 2.2% | ||||||
10,133 | T-Mobile US Inc, (2) | 889,677 | ||||
Total Long-Term Investments (cost $36,434,708) | 40,311,661 |
Shares | Description (1) | Coupon | Value | |||
SHORT-TERM INVESTMENTS – 0.1% | ||||||
MONEY MARKET FUNDS – 0.1% | ||||||
40,676 | First American Treasury Obligation Fund, Class Z | 0.134% (3) | $ 40,676 | |||
Total Short-Term Investments (cost $40,676) | 40,676 | |||||
Total Investments (cost $36,475,384) – 100.2% | 40,352,337 | |||||
Other Assets Less Liabilities – (0.2)% | (80,916) | |||||
Net Assets – 100% | $ 40,271,421 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.7% | ||||||
COMMON STOCKS – 98.7% | ||||||
Aerospace & Defense – 1.3% | ||||||
62,524 | Kratos Defense & Security Solutions Inc, (2) | $ 939,111 | ||||
Air Freight & Logistics – 1.4% | ||||||
20,983 | Hub Group Inc, (2) | 1,009,492 | ||||
Airlines – 0.7% | ||||||
16,529 | Alaska Air Group Inc, (2) | 537,523 | ||||
Auto Components – 1.2% | ||||||
39,970 | Cooper Tire & Rubber Co | 846,964 | ||||
Banks – 8.5% | ||||||
22,994 | Banner Corp | 883,659 | ||||
54,090 | Home BancShares Inc/AR | 829,200 | ||||
22,316 | Preferred Bank/Los Angeles CA | 851,355 | ||||
43,304 | Renasant Corp | 1,135,864 | ||||
61,562 | Sterling Bancorp/DE | 759,060 | ||||
24,880 | Western Alliance Bancorp | 892,694 | ||||
22,870 | Wintrust Financial Corp | 958,253 | ||||
Total Banks | 6,310,085 | |||||
Biotechnology – 6.7% | ||||||
9,076 | ACADIA Pharmaceuticals Inc, (2) | 438,461 | ||||
12,372 | Arena Pharmaceuticals Inc, (2) | 605,857 | ||||
4,449 | Ascendis Pharma A/S, Sponsored ADR | 603,863 | ||||
7,135 | Blueprint Medicines Corp, (2) | 419,752 | ||||
6,448 | Emergent BioSolutions Inc, (2) | 476,830 | ||||
17,597 | Fate Therapeutics Inc, (2) | 481,806 | ||||
5,986 | Global Blood Therapeutics Inc, (2) | 458,049 | ||||
14,140 | Iovance Biotherapeutics Inc, (2) | 454,601 | ||||
22,038 | Momenta Pharmaceuticals Inc, (2) | 698,605 | ||||
8,418 | Zymeworks Inc, (2) | 307,509 | ||||
Total Biotechnology | 4,945,333 | |||||
Building Products – 2.2% | ||||||
12,391 | CSW Industrials Inc | 820,780 | ||||
16,935 | Gibraltar Industries Inc, (2) | 784,090 | ||||
Total Building Products | 1,604,870 |
Shares | Description (1) | Value | ||||
Capital Markets – 2.5% | ||||||
19,559 | Evercore Inc | $1,009,244 | ||||
15,436 | Piper Sandler Cos | 832,155 | ||||
Total Capital Markets | 1,841,399 | |||||
Chemicals – 2.2% | ||||||
34,796 | Kraton Corp, (2) | 543,166 | ||||
47,876 | PolyOne Corp | 1,115,032 | ||||
Total Chemicals | 1,658,198 | |||||
Commercial Services & Supplies – 2.7% | ||||||
21,276 | Casella Waste Systems Inc, (2) | 986,781 | ||||
12,897 | Tetra Tech Inc | 970,886 | ||||
Total Commercial Services & Supplies | 1,957,667 | |||||
Communications Equipment – 1.3% | ||||||
12,224 | Lumentum Holdings Inc, (2) | 989,044 | ||||
Construction & Engineering – 2.4% | ||||||
26,498 | MasTec Inc, (2) | 951,278 | ||||
28,451 | MYR Group Inc, (2) | 853,530 | ||||
Total Construction & Engineering | 1,804,808 | |||||
Construction Materials – 0.9% | ||||||
45,668 | Summit Materials Inc, (2) | 690,043 | ||||
Electrical Equipment – 1.5% | ||||||
15,673 | Regal Beloit Corp | 1,112,940 | ||||
Electronic Equipment, Instruments & Components – 1.3% | ||||||
32,910 | Methode Electronics Inc | 987,958 | ||||
Equity Real Estate Investment Trust – 7.1% | ||||||
91,430 | Brandywine Realty Trust | 1,020,359 | ||||
46,269 | CareTrust REIT Inc | 762,513 | ||||
47,792 | Industrial Logistics Properties Trust | 893,232 | ||||
52,596 | STAG Industrial Inc | 1,380,645 | ||||
191,584 | Summit Hotel Properties Inc | 1,160,999 | ||||
Total Equity Real Estate Investment Trust | 5,217,748 | |||||
Food & Staples Retailing – 1.0% | ||||||
26,179 | Performance Food Group Co, (2) | 768,354 | ||||
Food Products – 2.6% | ||||||
44,104 | Nomad Foods Ltd, (2) | 908,984 | ||||
7,603 | Sanderson Farms Inc | 1,035,072 | ||||
Total Food Products | 1,944,056 |
Shares | Description (1) | Value | ||||
Gas Utilities – 2.4% | ||||||
16,500 | Southwest Gas Holdings Inc | $1,250,700 | ||||
7,445 | Spire Inc | 543,187 | ||||
Total Gas Utilities | 1,793,887 | |||||
Health Care Equipment & Supplies – 4.1% | ||||||
16,632 | AtriCure Inc, (2) | 717,172 | ||||
28,569 | Establishment Labs Holdings Inc, (2) | 499,386 | ||||
5,053 | Penumbra Inc, (2) | 895,998 | ||||
17,703 | Tactile Systems Technology Inc, (2) | 913,829 | ||||
Total Health Care Equipment & Supplies | 3,026,385 | |||||
Health Care Providers & Services – 1.2% | ||||||
6,542 | LHC Group Inc, (2) | 850,395 | ||||
Health Care Technology – 2.0% | ||||||
67,261 | Change Healthcare Inc, (2) | 782,918 | ||||
6,624 | Livongo Health Inc, (2) | 265,026 | ||||
2,649 | Teladoc Health Inc, (2) | 435,999 | ||||
Total Health Care Technology | 1,483,943 | |||||
Hotels, Restaurants & Leisure – 2.4% | ||||||
16,295 | Jack in the Box Inc | 982,588 | ||||
17,109 | Texas Roadhouse Inc, (2) | 805,663 | ||||
Total Hotels, Restaurants & Leisure | 1,788,251 | |||||
Household Durables – 2.5% | ||||||
41,572 | La-Z-Boy Inc | 974,863 | ||||
16,487 | Meritage Homes Corp, (2) | 866,557 | ||||
Total Household Durables | 1,841,420 | |||||
Insurance – 2.1% | ||||||
7,375 | eHealth Inc, (2) | 786,913 | ||||
7,397 | Primerica Inc | 768,622 | ||||
Total Insurance | 1,555,535 | |||||
IT Services – 2.8% | ||||||
21,392 | MAXIMUS Inc | 1,440,109 | ||||
68,427 | Verra Mobility Corp, (2) | 613,106 | ||||
Total IT Services | 2,053,215 | |||||
Leisure Products – 1.1% | ||||||
58,346 | Callaway Golf Co | 835,515 | ||||
Life Sciences Tools & Services – 0.7% | ||||||
4,295 | Repligen Corp, (2) | 498,864 | ||||
Machinery – 2.8% | ||||||
38,384 | Altra Industrial Motion Corp | 1,071,298 |
Shares | Description (1) | Value | ||||
Machinery (continued) | ||||||
25,278 | SPX Corp, (2) | $ 963,850 | ||||
Total Machinery | 2,035,148 | |||||
Media – 1.1% | ||||||
11,997 | Nexstar Media Group Inc | 840,270 | ||||
Mortgage Real Estate Investment Trust – 0.8% | ||||||
72,269 | Ladder Capital Corp | 574,539 | ||||
Multiline Retail – 0.5% | ||||||
17,872 | Nordstrom Inc, (2) | 335,636 | ||||
Multi-Utilities – 1.7% | ||||||
20,326 | Black Hills Corp | 1,258,992 | ||||
Paper & Forest Products – 1.3% | ||||||
49,079 | Louisiana-Pacific Corp | 981,580 | ||||
Pharmaceuticals – 5.1% | ||||||
24,131 | Aerie Pharmaceuticals Inc, (2), (3) | 367,756 | ||||
52,519 | Horizon Therapeutics Plc, (2) | 1,892,785 | ||||
2,665 | MyoKardia Inc, (2) | 167,415 | ||||
22,276 | Prestige Consumer Healthcare Inc, (2) | 906,411 | ||||
2,624 | Reata Pharmaceuticals Inc, (2) | 415,012 | ||||
Total Pharmaceuticals | 3,749,379 | |||||
Road & Rail – 1.3% | ||||||
25,924 | Knight-Swift Transportation Holdings Inc | 963,854 | ||||
Semiconductors & Semiconductor Equipment – 4.0% | ||||||
69,592 | Lattice Semiconductor Corp, (2) | 1,566,516 | ||||
45,909 | MACOM Technology Solutions Holdings Inc, (2) | 1,407,570 | ||||
Total Semiconductors & Semiconductor Equipment | 2,974,086 | |||||
Software – 6.7% | ||||||
5,700 | Everbridge Inc, (2) | 634,866 | ||||
16,033 | J2 Global Inc, (2) | 1,292,901 | ||||
20,555 | Rapid7 Inc, (2) | 936,280 | ||||
18,717 | RealPage Inc, (2) | 1,207,060 | ||||
49,141 | Sailpoint Technologies Holdings Inc, (2) | 913,531 | ||||
Total Software | 4,984,638 | |||||
Specialty Retail – 1.6% | ||||||
13,912 | Aaron's Inc | 443,932 | ||||
38,547 | Boot Barn Holdings Inc, (2) | 711,578 | ||||
Total Specialty Retail | 1,155,510 |
Shares | Description (1) | Value | ||||
Textiles, Apparel & Luxury Goods – 1.6% | ||||||
5,567 | Deckers Outdoor Corp, (2) | $828,147 | ||||
33,131 | G-III Apparel Group Ltd, (2) | 375,374 | ||||
Total Textiles, Apparel & Luxury Goods | 1,203,521 | |||||
Trading Companies & Distributors – 1.4% | ||||||
20,085 | Applied Industrial Technology, Inc | 1,052,253 | ||||
Total Common Stocks (cost $71,816,393) | 73,002,409 |
Shares | Description (1), (4) | Value | ||||
EXCHANGE-TRADED FUNDS – 1.0% | ||||||
7,612 | SPDR S&P Biotech ETF | $ 710,885 | ||||
Total Exchange-Traded Funds (cost $588,576) | 710,885 | |||||
Total Long-Term Investments (cost $72,404,969) | 73,713,294 |
Shares | Description (1) | Coupon | Value | |||
SHORT-TERM INVESTMENTS – 1.2% | ||||||
MONEY MARKET FUNDS – 1.2% | ||||||
918,332 | First American Treasury Obligation Fund, Class Z | 0.134% (5) | $ 918,332 | |||
Total Short-Term Investments (cost $918,332) | 918,332 | |||||
Total Investments (cost $73,323,301) – 100.9% | 74,631,626 | |||||
Other Assets Less Liabilities – (0.9)% | (697,731) | |||||
Net Assets – 100% | $ 73,933,895 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | 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 $364,068. | |
(4) | A copy of the most recent financial statements for the exchange-traded funds in which the Fund invests can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov. | |
(5) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. | |
ADR | American Depositary Receipt | |
ETF | Exchange-Traded Fund | |
REIT | Real Estate Investment Trust | |
SPDR | Standard & Poor's Depositary Receipt |
Large Cap Select | Small Cap Select | |
Assets | ||
Long-term investments, at value (cost $36,434,708 and $72,404,969, respectively) | $40,311,661 | $73,713,293 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | — | 376,252 |
Short-term investments, at value (cost approximates value) | 40,676 | 918,332 |
Receivable for: | ||
Dividends | 47,384 | 29,809 |
Due from affiliates | 3,827 | 7,870 |
Due from broker | 29 | 132 |
Interest | 65 | 123 |
Investments sold | 604,536 | 1,270,311 |
Shares sold | 10,637 | 79,541 |
Other assets | 22,366 | 51,774 |
Total assets | 41,041,181 | 76,447,437 |
Liabilities | ||
Payable for: | ||
Collateral from securities lending program | — | 376,252 |
Investments purchased - regular settlement | 540,108 | 1,410,633 |
Shares redeemed | 174,708 | 590,330 |
Accrued expenses: | ||
Directors fees | 287 | 19,118 |
Management fees | 13,571 | 20,453 |
12b-1 distribution and service fees | 6,005 | 10,498 |
Other | 35,081 | 86,258 |
Total liabilities | 769,760 | 2,513,542 |
Net assets | $40,271,421 | $73,933,895 |
Large Cap Select | Small Cap Select | |
Class A Shares | ||
Net assets | $22,929,827 | $44,390,063 |
Shares outstanding | 793,617 | 6,795,064 |
Net asset value ("NAV") per share | $ 28.89 | $ 6.53 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 30.65 | $ 6.93 |
Class C Shares | ||
Net assets | $ 1,993,249 | $ 769,074 |
Shares outstanding | 74,685 | 217,070 |
NAV and offering price per share | $ 26.69 | $ 3.54 |
Class R3 Shares | ||
Net assets | $ — | $ 4,564,203 |
Shares outstanding | — | 798,905 |
NAV and offering price per share | $ — | $ 5.71 |
Class R6 Shares | ||
Net assets | $ — | $ 1,821,789 |
Shares outstanding | — | 205,196 |
NAV and offering price per share | $ — | $ 8.88 |
Class I Shares | ||
Net assets | $15,348,345 | $22,388,766 |
Shares outstanding | 527,077 | 2,526,933 |
NAV and offering price per share | $ 29.12 | $ 8.86 |
Fund level net assets consist of: | ||
Capital paid-in | $37,469,863 | $76,595,696 |
Total distributable earnings | 2,801,558 | (2,661,801) |
Fund level net assets | $40,271,421 | $73,933,895 |
Authorized shares - per class | 2 billion | 2 billion |
Par value per share | $ 0.0001 | $ 0.0001 |
Large Cap Select | Small Cap Select | |
Investment Income | ||
Dividends | $ 372,272 | $ 527,914 |
Interest | 1,652 | 5,531 |
Securities lending income | 29 | 3,123 |
Payment from affiliate | 3,827 | 7,870 |
Tax withheld | (3,228) | — |
Total investment income | 374,552 | 544,438 |
Expenses | ||
Management fees | 153,531 | 367,709 |
12b-1 service fees - Class A Shares | 30,183 | 64,346 |
12b-1 distribution and service fees - Class C Shares | 10,513 | 4,897 |
12b-1 distibution and service fees - Class R3 Shares | — | 11,719 |
Shareholder servicing agent fees | 16,861 | 85,093 |
Custodian fees | 8,768 | 12,143 |
Professional fees | 15,349 | 20,004 |
Trustees fees | 435 | 895 |
Shareholder reporting expenses | 6,540 | 14,026 |
Federal and state registration fees | 26,784 | 39,942 |
Other | 1,555 | 2,017 |
Total expenses before fee waiver/expense reimbursement | 270,519 | 622,791 |
Fee waiver/expense reimbursement | (34,387) | (114,686) |
Net expenses | 236,132 | 508,105 |
Net investment income (loss) | 138,420 | 36,333 |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) from investments | (86,106) | (2,845,204) |
Change in net unrealized appreciation (depreciation) of investments | (2,176,124) | (10,404,723) |
Net realized and unrealized gain (loss) | (2,262,230) | (13,249,927) |
Net increase (decrease) in net assets from operations | $(2,123,810) | $(13,213,594) |
Large Cap Select | Small Cap Select | ||||
Six Months Ended 4/30/20 | Year Ended 10/31/19 | Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||
Operations | |||||
Net investment income (loss) | $ 138,420 | $ 561,103 | $ 36,333 | $ 84,809 | |
Net realized gain (loss) from investments | (86,106) | (1,025,607) | (2,845,204) | (209,980) | |
Change in net unrealized appreciation (depreciation) of investments | (2,176,124) | 6,416,434 | (10,404,723) | 6,331,612 | |
Net increase (decrease) in net assets from operations | (2,123,810) | 5,951,930 | (13,213,594) | 6,206,441 | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (288,657) | (894,093) | (81,269) | (11,801,893) | |
Class C Shares | (9,872) | (80,595) | — | (422,601) | |
Class R3 Shares | — | — | — | (1,142,174) | |
Class R6 Shares | — | — | (11,344) | (1,031,249) | |
Class I Shares | (256,895) | (1,910,495) | (116,045) | (5,461,767) | |
Decrease in net assets from distributions to shareholders | (555,424) | (2,885,183) | (208,658) | (19,859,684) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 3,754,848 | 8,928,213 | 5,368,055 | 15,825,165 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 417,962 | 2,490,169 | 197,955 | 19,068,666 | |
4,172,810 | 11,418,382 | 5,566,010 | 34,893,831 | ||
Cost of shares redeemed | (6,109,225) | (43,341,723) | (12,460,749) | (38,571,414) | |
Net increase (decrease) in net assets from Fund share transactions | (1,936,415) | (31,923,341) | (6,894,739) | (3,677,583) | |
Net increase (decrease) in net assets | (4,615,649) | (28,856,594) | (20,316,991) | (17,330,826) | |
Net assets at the beginning of period | 44,887,070 | 73,743,664 | 94,250,886 | 111,581,712 | |
Net assets at the end of period | $40,271,421 | $ 44,887,070 | $ 73,933,895 | $ 94,250,886 |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended October 31 | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (01/03) | |||||||||
2020 | $30.71 | $ 0.09 | $(1.54) | $(1.45) | $(0.37) | $ — | $(0.37) | $28.89 | |
2019 | 28.87 | 0.21 | 2.72 | 2.93 | (0.10) | (0.99) | (1.09) | 30.71 | |
2018 | 27.50 | 0.12 | 1.38 | 1.50 | (0.13) | — | (0.13) | 28.87 | |
2017 | 21.24 | 0.10 | 6.25 | 6.35 | (0.09) | — | (0.09) | 27.50 | |
2016 | 20.59 | 0.09 | 0.61 | 0.70 | (0.05) | — | (0.05) | 21.24 | |
2015 | 20.13 | 0.08 | 0.46 | 0.54 | (0.08) | — | (0.08) | 20.59 | |
Class C (01/03) | |||||||||
2020 | 28.28 | (0.03) | (1.43) | (1.46) | (0.13) | — | (0.13) | 26.69 | |
2019 | 26.77 | ( —)* | 2.50 | 2.50 | — | (0.99) | (0.99) | 28.28 | |
2018 | 25.57 | (0.10) | 1.30 | 1.20 | — | — | — | 26.77 | |
2017 | 19.82 | (0.08) | 5.83 | 5.75 | — | — | — | 25.57 | |
2016 | 19.31 | (0.06) | 0.57 | 0.51 | — | — | — | 19.82 | |
2015 | 18.96 | (0.07) | 0.42 | 0.35 | — | — | — | 19.31 | |
Class I (01/03) | |||||||||
2020 | 30.98 | 0.13 | (1.55) | (1.42) | (0.44) | — | (0.44) | 29.12 | |
2019 | 29.13 | 0.28 | 2.73 | 3.01 | (0.17) | (0.99) | (1.16) | 30.98 | |
2018 | 27.74 | 0.19 | 1.40 | 1.59 | (0.20) | — | (0.20) | 29.13 | |
2017 | 21.42 | 0.16 | 6.30 | 6.46 | (0.14) | — | (0.14) | 27.74 | |
2016 | 20.76 | 0.14 | 0.62 | 0.76 | (0.10) | — | (0.10) | 21.42 | |
2015 | 20.30 | 0.13 | 0.46 | 0.59 | (0.13) | — | (0.13) | 20.76 |
Ratios/Supplemental Data | |||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
(4.87)% | $22,930 | 1.30%** | 0.41%** | 0.39%** | 1.14%** | 0.57%** | 0.55%** | 53% | |
10.86 | 24,224 | 1.20 | 0.68 | N/A | 1.15 | 0.73 | N/A | 108 | |
5.47 | 23,030 | 1.16 | 0.37 | N/A | 1.14 | 0.39 | N/A | 101 | |
29.99 | 14,778 | 1.19 | 0.36 | N/A | 1.14 | 0.40 | N/A | 276 | |
3.40 | 7,983 | 1.22 | 0.44 | N/A | 1.21 | 0.45 | N/A | 116 | |
2.66 | 7,383 | 1.25 | 0.36 | N/A | 1.25 | 0.36 | N/A | 124 | |
(5.21) | 1,993 | 2.05** | (0.34)** | (0.36)** | 1.89** | (0.19)** | (0.20)** | 53 | |
10.02 | 2,097 | 1.95 | (0.07) | N/A | 1.90 | (0.02) | N/A | 108 | |
4.65 | 2,145 | 1.91 | (0.39) | N/A | 1.89 | (0.37) | N/A | 101 | |
29.06 | 1,389 | 1.94 | (0.39) | N/A | 1.89 | (0.34) | N/A | 276 | |
2.64 | 1,074 | 1.97 | (0.32) | N/A | 1.96 | (0.31) | N/A | 116 | |
1.85 | 684 | 2.00 | (0.38) | N/A | 2.00 | (0.38) | N/A | 124 | |
(4.74) | 15,348 | 1.05** | 0.66** | 0.64** | 0.89** | 0.82** | 0.80** | 53 | |
11.13 | 18,567 | 0.95 | 0.93 | N/A | 0.90 | 0.98 | N/A | 108 | |
5.74 | 48,569 | 0.91 | 0.63 | N/A | 0.89 | 0.65 | N/A | 101 | |
30.31 | 45,599 | 0.94 | 0.61 | N/A | 0.89 | 0.66 | N/A | 276 | |
3.69 | 37,597 | 0.97 | 0.69 | N/A | 0.96 | 0.70 | N/A | 116 | |
2.88 | 34,615 | 1.00 | 0.63 | N/A | 1.00 | 0.63 | N/A | 124 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
* | Rounds to less than $.01 per share. |
** | Annualized. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended October 31, 2020. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended October 31 | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (05/92) | |||||||||
2020 | $ 7.71 | $ —** | $(1.17) | $(1.17) | $ (0.01) | $ — | $(0.01) | $ 6.53 | |
2019 | 9.26 | ( —)** | 0.28 | 0.28 | ( —)*** | (1.83) | (1.83) | 7.71 | |
2018 | 10.13 | (0.01) | 0.35 | 0.34 | — | (1.21) | (1.21) | 9.26 | |
2017 | 9.21 | (0.02) | 1.97 | 1.95 | (0.01) | (1.02) | (1.03) | 10.13 | |
2016 | 11.01 | 0.01 | 0.30 | 0.31 | — | (2.11) | (2.11) | 9.21 | |
2015 | 14.48 | (0.02) | 0.37 | 0.35 | — | (3.82) | (3.82) | 11.01 | |
Class C (09/01) | |||||||||
2020 | 4.19 | (0.01) | (0.64) | (0.65) | — | — | — | 3.54 | |
2019 | 6.00 | (0.03) | 0.05 | 0.02 | — | (1.83) | (1.83) | 4.19 | |
2018 | 7.02 | (0.05) | 0.24 | 0.19 | — | (1.21) | (1.21) | 6.00 | |
2017 | 6.70 | (0.06) | 1.40 | 1.34 | — | (1.02) | (1.02) | 7.02 | |
2016 | 8.64 | (0.04) | 0.21 | 0.17 | — | (2.11) | (2.11) | 6.70 | |
2015 | 12.28 | (0.08) | 0.26 | 0.18 | — | (3.82) | (3.82) | 8.64 | |
Class R3 (01/94) | |||||||||
2020 | 6.74 | (0.01) | (1.02) | (1.03) | — | — | — | 5.71 | |
2019 | 8.37 | (0.02) | 0.22 | 0.20 | — | (1.83) | (1.83) | 6.74 | |
2018 | 9.28 | (0.03) | 0.33 | 0.30 | — | (1.21) | (1.21) | 8.37 | |
2017 | 8.53 | (0.04) | 1.81 | 1.77 | — | (1.02) | (1.02) | 9.28 | |
2016 | 10.38 | (0.01) | 0.27 | 0.26 | — | (2.11) | (2.11) | 8.53 | |
2015 | 13.91 | (0.04) | 0.33 | 0.29 | — | (3.82) | (3.82) | 10.38 | |
Class R6 (02/18) | |||||||||
2020 | 10.49 | 0.02 | (1.57) | (1.55) | (0.06) | — | (0.06) | 8.88 | |
2019 | 11.87 | 0.04 | 0.44 | 0.48 | (0.03) | (1.83) | (1.86) | 10.49 | |
2018 | 11.82 | 0.02 | 0.03 | 0.05 | — | — | — | 11.87 | |
Class I (05/92) | |||||||||
2020 | 10.46 | 0.01 | (1.57) | (1.56) | (0.04) | ��— | (0.04) | 8.86 | |
2019 | 11.85 | 0.03 | 0.44 | 0.47 | (0.03) | (1.83) | (1.86) | 10.46 | |
2018 | 12.60 | 0.03 | 0.43 | 0.46 | — | (1.21) | (1.21) | 11.85 | |
2017 | 11.24 | 0.01 | 2.40 | 2.41 | (0.03) | (1.02) | (1.05) | 12.60 | |
2016 | 12.93 | 0.04 | 0.38 | 0.42 | — | (2.11) | (2.11) | 11.24 | |
2015 | 16.30 | 0.02 | 0.43 | 0.45 | — | (3.82) | (3.82) | 12.93 |
Ratios/Supplemental Data | |||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
(15.19)% | $44,390 | 1.51%* | (0.25)%* | (0.27)%* | 1.24%* | 0.02%* | ( —)%**** | 37% | |
6.95 | 55,849 | 1.42 | (0.17) | N/A | 1.24 | 0.01 | N/A | 70 | |
3.48 | 60,930 | 1.43 | (0.24) | N/A | 1.24 | (0.06) | N/A | 95 | |
21.76 | 67,405 | 1.41 | (0.24) | N/A | 1.33 | (0.16) | N/A | 66 | |
4.05 | 67,428 | 1.44 | 0.10 | N/A | 1.44 | 0.10 | N/A | 66 | |
4.08 | 82,080 | 1.42 | (0.14) | N/A | 1.42 | (0.14) | N/A | 75 | |
(15.51) | 769 | 2.25* | (0.97)* | (0.98)* | 1.99* | (0.70)* | (0.72)* | 37 | |
6.09 | 1,029 | 2.17 | (0.92) | N/A | 1.99 | (0.74) | N/A | 70 | |
2.78 | 1,436 | 2.18 | (1.00) | N/A | 1.99 | (0.81) | N/A | 95 | |
20.75 | 4,913 | 2.16 | (0.99) | N/A | 2.09 | (0.91) | N/A | 66 | |
3.37 | 5,625 | 2.19 | (0.65) | N/A | 2.19 | (0.65) | N/A | 66 | |
3.19 | 8,036 | 2.17 | (0.88) | N/A | 2.17 | (0.88) | N/A | 75 | |
(15.28) | 4,564 | 1.76* | (0.53)* | (0.55)* | 1.49* | (0.26)* | (0.28)* | 37 | |
6.65 | 5,194 | 1.68 | (0.42) | N/A | 1.49 | (0.24) | N/A | 70 | |
3.34 | 5,264 | 1.68 | (0.50) | N/A | 1.49 | (0.31) | N/A | 95 | |
21.40 | 5,381 | 1.66 | (0.49) | N/A | 1.59 | (0.41) | N/A | 66 | |
3.76 | 5,310 | 1.69 | (0.12) | N/A | 1.69 | (0.12) | N/A | 66 | |
3.75 | 7,794 | 1.67 | (0.38) | N/A | 1.67 | (0.38) | N/A | 75 | |
(14.91) | 1,822 | 1.10* | 0.13* | 0.12* | 0.83* | 0.40* | 0.38* | 37 | |
7.22 | 2,070 | 1.03 | 0.17 | N/A | 0.85 | 0.36 | N/A | 70 | |
0.42 | 6,532 | 1.03* | 0.06* | N/A | 0.85* | 0.24* | N/A | 95 | |
(14.98) | 22,389 | 1.26* | 0.01* | (0.01)* | 0.99* | 0.27* | 0.26* | 37 | |
7.13 | 30,109 | 1.17 | 0.08 | N/A | 0.99 | 0.26 | N/A | 70 | |
3.77 | 37,420 | 1.18 | 0.02 | N/A | 0.99 | 0.21 | N/A | 95 | |
22.03 | 49,150 | 1.16 | 0.01 | N/A | 1.08 | 0.09 | N/A | 66 | |
4.33 | 45,574 | 1.19 | 0.36 | N/A | 1.19 | 0.36 | N/A | 66 | |
4.29 | 96,071 | 1.17 | 0.11 | N/A | 1.17 | 0.11 | N/A | 75 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period. |
* | Annualized. |
** | Rounds to less than $.01 per share. |
*** | Rounds to more than $(.01) per share. |
**** | Annualized ratio rounds to less than .01%. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended October 31, 2020. |
Large Cap Select | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $40,311,661 | $ — | $ — | $40,311,661 |
Short-Term Investments: | ||||
Money Market Funds | 40,676 | — | — | 40,676 |
Total | $40,352,337 | $ — | $ — | $40,352,337 |
Small Cap Select | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $73,002,409 | $ — | $ — | $73,002,409 |
Exchange-Traded Funds | 710,885 | — | — | 710,885 |
Short-Term Investments: | ||||
Money Market Funds | 918,332 | — | — | 918,332 |
Total | $74,631,626 | $ — | $ — | $74,631,626 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Collateral Pledged (From) Counterparty* | Net Exposure |
Small Cap Select | Common Stocks | $364,068 | $(364,068) | $ — |
Large Cap Select | Small Cap Select | |
Purchases | $22,850,529 | $31,705,900 |
Sales | 25,152,919 | 37,497,740 |
Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||||
Large Cap Select | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 85,471 | $ 2,654,123 | 177,515 | $ 4,930,221 | |
Class A – automatic conversion of Class C Shares | 115 | 3,344 | 486 | 13,884 | |
Class C | 6,711 | 171,982 | 24,930 | 643,351 | |
Class I | 30,946 | 925,399 | 120,055 | 3,340,757 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 8,421 | 275,945 | 32,369 | 835,988 | |
Class C | 304 | 9,233 | 3,148 | 75,284 | |
Class I | 4,024 | 132,784 | 60,673 | 1,578,897 | |
135,992 | 4,172,810 | 419,176 | 11,418,382 | ||
Shares redeemed: | |||||
Class A | (89,195) | (2,663,903) | (219,203) | (6,275,373) | |
Class C | (6,338) | (171,590) | (33,536) | (894,697) | |
Class C – automatic conversion to Class A Shares | (125) | (3,344) | (526) | (13,884) | |
Class I | (107,187) | (3,270,388) | (1,248,745) | (36,157,769) | |
(202,845) | (6,109,225) | (1,502,010) | (43,341,723) | ||
Net increase (decrease) | (66,853) | $(1,936,415) | (1,082,834) | $(31,923,341) |
Six Months Ended 4/30/20 | Year Ended 10/31/19 | ||||
Small Cap Select | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 173,230 | $ 1,223,786 | 482,537 | $ 3,499,928 | |
Class A – automatic conversion of Class C Shares | 490 | 3,918 | 1,287 | 10,280 | |
Class C | 46,360 | 185,368 | 43,704 | 181,629 | |
Class R3 | 172,851 | 885,785 | 256,759 | 1,677,173 | |
Class R6 | 43,510 | 407,284 | 202,682 | 2,051,384 | |
Class I | 277,313 | 2,661,914 | 843,491 | 8,404,771 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 9,868 | 80,423 | 1,813,633 | 11,697,567 | |
Class C | — | — | 119,270 | 421,025 | |
Class R3 | — | — | 201,838 | 1,140,383 | |
Class R6 | 1,026 | 11,344 | 117,392 | 1,031,249 | |
Class I | 9,610 | 106,188 | 545,179 | 4,778,442 | |
734,258 | 5,566,010 | 4,627,772 | 34,893,831 | ||
Shares redeemed: | |||||
Class A | (636,016) | (4,611,254) | (1,629,812) | (12,135,488) | |
Class C | (73,980) | (288,280) | (154,537) | (622,536) | |
Class C – automatic conversion to Class A Shares | (902) | (3,918) | (2,231) | (10,280) | |
Class R3 | (144,870) | (981,547) | (316,677) | (2,085,951) | |
Class R6 | (36,613) | (352,243) | (673,304) | (6,773,557) | |
Class I | (637,867) | (6,223,507) | (1,668,575) | (16,943,602) | |
(1,530,248) | (12,460,749) | (4,445,136) | (38,571,414) | ||
Net increase (decrease) | (795,990) | $ (6,894,739) | 182,636 | $ (3,677,583) |
Large Cap Select | Small Cap Select | |
Tax cost of investments | $36,703,966 | $74,013,733 |
Gross unrealized: | ||
Appreciation | $ 5,641,601 | $ 9,383,570 |
Depreciation | (1,993,230) | (8,389,426) |
Net unrealized appreciation (depreciation) of investments | $ 3,648,371 | $ 994,144 |
Large Cap Select | Small Cap Select | |
Undistributed net ordinary income1 | $512,223 | $62,715 |
Undistributed net long-term capital gains | — | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Large Cap Select | Small Cap Select | |
Distributions from net ordinary income1 | $2,753,146 | $ 5,582,744 |
Distributions from net long-term capital gains | 132,037 | 14,276,940 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Large Cap Select | Small Cap Select | |
Not subject to expiration: | ||
Short-term | $328,832 | $263,821 |
Long-term | 527,111 | 419,464 |
Total | $855,943 | $683,285 |
Average Daily Net Assets | Large Cap Select | Small Cap Select |
For the first $125 million | 0.5000% | 0.6500% |
For the next $125 million | 0.4875 | 0.6375 |
For the next $250 million | 0.4750 | 0.6250 |
For the next $500 million | 0.4625 | 0.6125 |
For the next $1 billion | 0.4500 | 0.6000 |
For the next $3 billion | 0.4250 | 0.5750 |
For the next $2.5 billion | 0.4000 | 0.5500 |
For the next $2.5 billion | 0.3875 | 0.5375 |
For net assets over $10 billion | 0.3750 | 0.5250 |
Complex-Level Eligible Asset Breakpoint Level* | Effective Complex-Level Fee Rate at Breakpoint Level |
$55 billion | 0.2000% |
$56 billion | 0.1996 |
$57 billion | 0.1989 |
$60 billion | 0.1961 |
$63 billion | 0.1931 |
$66 billion | 0.1900 |
$71 billion | 0.1851 |
$76 billion | 0.1806 |
$80 billion | 0.1773 |
$91 billion | 0.1691 |
$125 billion | 0.1599 |
$200 billion | 0.1505 |
$250 billion | 0.1469 |
$300 billion | 0.1445 |
Fund | Expense Cap | Expense Cap Expiration Date |
Large Cap Select | 0.89% | July 31, 2021 |
Small Cap Select | 0.99 | July 31, 2021 |
Large Cap Select | Small Cap Select | |
Sales charges collected | $6,128 | $5,440 |
Paid to financial intermediaries | 5,449 | 4,759 |
Large Cap Select | Small Cap Select | |
Commission advances | $592 | $1,260 |
Large Cap Select | Small Cap Select | |
12b-1 fees retained | $1,242 | $761 |
Large Cap Select | Small Cap Select | |
CDSC retained | $14 | $33 |
Serving Investors for Generations
Item 2. Code of Ethics.
Not applicable to this filing.
Item 3. Audit Committee Financial Expert.
Not applicable to this filing.
Item 4. Principal Accountant Fees and Services.
Not applicable to this filing.
Item 5. Audit Committee of Listed Registrants.
Not applicable to this registrant.
Item 6. Schedule of Investments.
(a) See Portfolio of Investments in Item 1.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to this registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
File the exhibits listed below as part of this Form.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant.
(a)(4) Change in the registrant’s independent public accountant. Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Investment Funds, Inc.
By | (Signature and Title) | /s/ Christopher M. Rohrbacher | ||||
Christopher M. Rohrbacher Vice President and Secretary |
Date: July 7, 2020
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | (Signature and Title) | /s/ Greg A. Bottjer | ||||
Greg A. Bottjer Chief Administrative Officer (principal executive officer) |
Date: July 7, 2020
By | (Signature and Title) | /s/ E. Scott Wickerham | ||||
E. Scott Wickerham Vice President and Controller (principal financial officer) |
Date: July 7, 2020