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)
Mark J. Czarniecki
Vice President and Secretary
333 West Wacker Drive,
Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: October 31
Date of reporting period: April 30, 2021
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss.3507.
ITEM 1. | REPORTS TO STOCKHOLDERS. |
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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 |
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![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185519imgb9960d993.jpg)
Total Returns as of April 30, 2021* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 12/18/92 | 34.86% | 41.17% | 11.02% | 9.65% | 1.09% | 0.97% | ||
Class A Shares at maximum Offering Price | 12/18/92 | 27.08% | 33.09% | 9.71% | 9.01% | - | - | ||
Russell 1000® Value Index | - | 36.30% | 45.92% | 12.15% | 11.13% | - | - | ||
Lipper Equity Income Funds Classification Average | - | 31.66% | 42.23% | 11.80% | 10.24% | - | - | ||
Class C Shares | 2/01/99 | 34.28% | 40.15% | 10.18% | 10.24% | 1.84% | 1.72% | ||
Class R3 Shares | 9/24/01 | 34.61% | 40.89% | 10.74% | 9.38% | 1.34% | 1.22% | ||
Class I Shares | 8/02/94 | 35.01% | 41.56% | 11.30% | 9.93% | 0.84% | 0.72% |
Total Returns as of April 30, 2021* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 2/28/13 | 35.07% | 41.65% | 10.59% | 0.70% | 0.58% |
Total Returns as of April 30, 2021* | |||||||||
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 | 45.63% | 62.83% | 12.71% | 10.12% | 1.27% | 1.17% | ||
Class A Shares at maximum Offering Price | 12/22/87 | 37.25% | 53.49% | 11.39% | 9.47% | - | - | ||
Russell Midcap® Value Index | - | 41.41% | 60.70% | 12.18% | 11.31% | - | - | ||
Lipper Mid-Cap Core Funds Classification Average | - | 47.42% | 65.79% | 10.99% | 9.73% | - | - | ||
Class C Shares | 2/01/99 | 45.05% | 61.59% | 11.87% | 9.46% | 2.02% | 1.92% | ||
Class R3 Shares | 9/24/01 | 45.44% | 62.41% | 12.43% | 9.85% | 1.52% | 1.42% | ||
Class I Shares | 2/04/94 | 45.77% | 63.21% | 13.00% | 10.39% | 1.02% | 0.92% |
Total Returns as of April 30, 2021* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/20/18 | 45.87% | 63.42% | 10.38% | 0.89% | 0.78% |
Total Returns as of April 30, 2021* | |||||||||
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 | 58.21% | 74.33% | 8.72% | 9.14% | 1.30% | 1.20% | ||
Class A Shares at maximum Offering Price | 8/01/94 | 49.07% | 64.29% | 7.44% | 8.50% | - | - | ||
Russell 2000® Value Index | - | 59.17% | 78.96% | 13.54% | 10.10% | - | - | ||
Lipper Small-Cap Value Funds Classification Average | - | 60.17% | 83.14% | 12.11% | 9.45% | - | - | ||
Class C Shares | 2/01/99 | 57.62% | 73.13% | 7.90% | 8.49% | 2.05% | 1.95% | ||
Class R3 Shares | 9/24/01 | 58.00% | 73.96% | 8.45% | 8.88% | 1.55% | 1.45% | ||
Class I Shares | 8/01/94 | 58.46% | 74.84% | 8.99% | 9.42% | 1.05% | 0.95% |
Total Returns as of April 30, 2021* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/30/16 | 58.60% | 75.12% | 8.49% | 0.86% | 0.76% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.6% |
Investments Purchased with Collateral from Securities Lending | 1.9% |
Repurchase Agreements | 0.2% |
Other Assets Less Liabilities | (1.7)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 8.6% |
Machinery | 6.1% |
Hotels, Restaurants & Leisure | 5.5% |
Health Care Providers & Services | 5.1% |
Consumer Finance | 4.6% |
Building Products | 4.3% |
IT Services | 4.3% |
Equity Real Estate Investment Trust | 4.2% |
Health Care Equipment & Supplies | 4.1% |
Capital Markets | 4.0% |
Electric Utilities | 4.0% |
Semiconductors & Semiconductor Equipment | 3.8% |
Biotechnology | 3.6% |
Chemicals | 3.5% |
Electrical Equipment | 3.3% |
Metals & Mining | 2.7% |
Tobacco | 2.7% |
Media | 2.6% |
Communications Equipment | 2.6% |
Mortgage Real Estate Investment Trust | 2.3% |
Other 1 | 17.8% |
Investments Purchased with Collateral from Securities Lending | 1.8% |
Repurchase Agreements | 0.2% |
Other Assets Less Liabilities | (1.7)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Bank of America Corp | 3.1% |
Morgan Stanley | 2.9% |
Philip Morris International Inc | 2.7% |
Comcast Corp | 2.6% |
Cisco Systems Inc | 2.6% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 98.8% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | (0.1)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Equity Real Estate Investment Trust | 9.2% |
Machinery | 7.4% |
Banks | 6.4% |
Multi-Utilities | 4.4% |
Hotels, Restaurants & Leisure | 4.4% |
Chemicals | 4.3% |
Oil, Gas & Consumable Fuels | 4.2% |
Semiconductors & Semiconductor Equipment | 3.2% |
Capital Markets | 3.2% |
Household Durables | 3.1% |
Insurance | 3.0% |
Health Care Providers & Services | 2.9% |
Building Products | 2.8% |
Specialty Retail | 2.7% |
Health Care Equipment & Supplies | 2.5% |
Software | 2.4% |
Road & Rail | 2.3% |
Biotechnology | 2.1% |
Household Products | 2.1% |
Leisure Products | 2.1% |
Mortgage Real Estate Investment Trust | 1.9% |
Construction Materials | 1.8% |
Diversified Financial Services | 1.8% |
Other 1 | 18.6% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | (0.1)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Brunswick Corp/DE | 2.1% |
Devon Energy Corp | 2.0% |
Marvell Technology Inc | 1.9% |
CenterPoint Energy Inc | 1.8% |
Stanley Black & Decker Inc | 1.8% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 99.2% |
Repurchase Agreements | 0.2% |
Other Assets Less Liabilities | 0.6% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 15.0% |
Equity Real Estate Investment Trust | 7.7% |
Oil, Gas & Consumable Fuels | 4.8% |
Hotels, Restaurants & Leisure | 3.9% |
Building Products | 3.8% |
Thrifts & Mortgage Finance | 3.6% |
Household Durables | 3.1% |
Chemicals | 3.1% |
Commercial Services & Supplies | 2.9% |
Insurance | 2.8% |
Capital Markets | 2.8% |
Metals & Mining | 2.8% |
Semiconductors & Semiconductor Equipment | 2.8% |
Electronic Equipment, Instruments & Components | 2.5% |
Health Care Providers & Services | 2.4% |
Consumer Finance | 2.2% |
Road & Rail | 1.9% |
Gas Utilities | 1.8% |
Professional Services | 1.7% |
Auto Components | 1.7% |
Construction & Engineering | 1.7% |
Textiles, Apparel & Luxury Goods | 1.6% |
Specialty Retail | 1.6% |
Machinery | 1.5% |
Other 1 | 19.5% |
Repurchase Agreements | 0.2% |
Other Assets Less Liabilities | 0.6% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
TFI International Inc | 1.9% |
M/I Homes Inc | 1.8% |
Banner Corp | 1.8% |
Pinnacle Financial Partners Inc | 1.8% |
Investors Bancorp Inc | 1.7% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
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 | $1,348.57 | $1,342.84 | $1,346.12 | $1,350.69 | $1,350.09 |
Expenses Incurred During the Period | $ 5.59 | $ 9.93 | $ 7.10 | $ 3.50 | $ 4.20 |
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 | $1,020.03 | $1,016.31 | $1,018.74 | $1,021.82 | $1,021.22 |
Expenses Incurred During the Period | $ 4.81 | $ 8.55 | $ 6.11 | $ 3.01 | $ 3.61 |
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 | $1,456.29 | $1,450.55 | $1,454.38 | $1,458.71 | $1,457.74 |
Expenses Incurred During the Period | $ 7.06 | $ 11.61 | $ 8.58 | $ 4.63 | $ 5.55 |
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 | $1,019.04 | $1,015.32 | $1,017.80 | $1,021.03 | $1,020.28 |
Expenses Incurred During the Period | $ 5.81 | $ 9.54 | $ 7.05 | $ 3.81 | $ 4.56 |
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 | $1,582.08 | $1,576.15 | $1,580.04 | $1,585.99 | $1,584.59 |
Expenses Incurred During the Period | $ 7.68 | $ 12.46 | $ 9.28 | $ 4.87 | $ 6.09 |
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 | $1,018.84 | $1,015.12 | $1,017.60 | $1,021.03 | $1,020.08 |
Expenses Incurred During the Period | $ 6.01 | $ 9.74 | $ 7.25 | $ 3.81 | $ 4.76 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.6% | ||||||
COMMON STOCKS – 99.6% | ||||||
Aerospace & Defense – 1.9% | ||||||
989,168 | Raytheon Technologies Corp | $ 82,338,344 | ||||
Automobiles – 0.5% | ||||||
633,503 | Volkswagen AG, Sponsored ADR, (2) | 20,088,380 | ||||
Banks – 8.6% | ||||||
3,289,402 | Bank of America Corp | 133,319,463 | ||||
1,583,603 | Citigroup Inc | 112,815,877 | ||||
3,951,368 | Huntington Bancshares Inc/OH | 60,534,958 | ||||
1,083,790 | Truist Financial Corp | 64,279,585 | ||||
Total Banks | 370,949,883 | |||||
Beverages – 1.0% | ||||||
1,249,976 | Keurig Dr Pepper Inc | 44,811,640 | ||||
Biotechnology – 3.6% | ||||||
690,231 | AbbVie Inc | 76,960,757 | ||||
1,247,318 | Gilead Sciences Inc | 79,167,273 | ||||
Total Biotechnology | 156,128,030 | |||||
Building Products – 4.3% | ||||||
1,465,632 | Carrier Global Corp | 63,872,242 | ||||
1,216,441 | Johnson Controls International plc | 75,832,932 | ||||
496,701 | Owens Corning | 48,085,624 | ||||
Total Building Products | 187,790,798 | |||||
Capital Markets – 4.0% | ||||||
708,343 | Charles Schwab Corp | 49,867,347 | ||||
1,511,786 | Morgan Stanley | 124,797,935 | ||||
Total Capital Markets | 174,665,282 | |||||
Chemicals – 3.5% | ||||||
889,367 | CF Industries Holdings Inc | 43,249,917 | ||||
472,959 | International Flavors & Fragrances Inc | 67,240,581 | ||||
746,422 | Nutrien Ltd | 41,195,030 | ||||
Total Chemicals | 151,685,528 | |||||
Commercial Services & Supplies – 1.9% | ||||||
593,800 | Waste Management Inc | 81,926,586 |
Shares | Description (1) | Value | ||||
Communications Equipment – 2.6% | ||||||
2,227,692 | Cisco Systems Inc | $ 113,411,800 | ||||
Consumer Finance – 4.6% | ||||||
427,708 | American Express Co | 65,589,022 | ||||
706,090 | Discover Financial Services | 80,494,260 | ||||
1,197,775 | Synchrony Financial | 52,390,678 | ||||
Total Consumer Finance | 198,473,960 | |||||
Diversified Financial Services – 1.3% | ||||||
803,177 | Voya Financial Inc | 54,471,464 | ||||
Electric Utilities – 4.0% | ||||||
883,077 | Alliant Energy Corp | 49,602,435 | ||||
623,851 | American Electric Power Co Inc | 55,341,822 | ||||
540,412 | Evergy Inc | 34,570,156 | ||||
436,320 | NextEra Energy Inc | 33,819,163 | ||||
Total Electric Utilities | 173,333,576 | |||||
Electrical Equipment – 3.3% | ||||||
578,145 | Eaton Corp PLC | 82,634,265 | ||||
302,893 | Hubbell Inc | 58,158,485 | ||||
Total Electrical Equipment | 140,792,750 | |||||
Entertainment – 1.1% | ||||||
523,614 | Activision Blizzard Inc | 47,748,361 | ||||
Equity Real Estate Investment Trust – 4.2% | ||||||
211,778 | AvalonBay Communities Inc | 40,661,376 | ||||
303,211 | Crown Castle International Corp | 57,325,072 | ||||
630,941 | Regency Centers Corp | 40,165,704 | ||||
358,813 | Simon Property Group Inc | 43,681,894 | ||||
Total Equity Real Estate Investment Trust | 181,834,046 | |||||
Food & Staples Retailing – 1.2% | ||||||
369,624 | Walmart Inc | 51,714,094 | ||||
Health Care Equipment & Supplies – 4.0% | ||||||
782,677 | Medtronic PLC | 102,468,073 | ||||
409,440 | Zimmer Biomet Holdings Inc | 72,536,390 | ||||
Total Health Care Equipment & Supplies | 175,004,463 | |||||
Health Care Providers & Services – 5.1% | ||||||
168,696 | Anthem Inc | 64,001,575 | ||||
292,275 | Cigna Corp | 72,779,398 | ||||
209,979 | UnitedHealth Group Inc | 83,739,625 | ||||
Total Health Care Providers & Services | 220,520,598 |
Shares | Description (1) | Value | ||||
Hotels, Restaurants & Leisure – 5.5% | ||||||
352,284 | McDonald's Corp | $83,167,207 | ||||
819,536 | Travel + Leisure Co | 52,884,658 | ||||
610,157 | Wyndham Hotels & Resorts Inc | 44,608,578 | ||||
462,778 | Yum! Brands Inc | 55,311,227 | ||||
Total Hotels, Restaurants & Leisure | 235,971,670 | |||||
Household Durables – 1.8% | ||||||
1,363,346 | Newell Brands Inc | 36,755,808 | ||||
175,284 | Whirlpool Corp | 41,445,902 | ||||
Total Household Durables | 78,201,710 | |||||
Independent Power & Renewable Electricity Producers – 0.5% | ||||||
548,234 | Brookfield Renewable Corp | 22,740,746 | ||||
Insurance – 1.3% | ||||||
569,768 | Prudential Financial Inc | 57,181,916 | ||||
IT Services – 4.3% | ||||||
645,408 | Fidelity National Information Services Inc | 98,682,883 | ||||
376,497 | Visa Inc, Class A | 87,934,640 | ||||
Total IT Services | 186,617,523 | |||||
Machinery – 6.1% | ||||||
310,527 | Caterpillar Inc | 70,834,314 | ||||
224,462 | Deere & Co | 83,241,733 | ||||
342,577 | Stanley Black & Decker Inc | 70,834,646 | ||||
463,994 | Westinghouse Air Brake Technologies Corp | 38,079,988 | ||||
Total Machinery | 262,990,681 | |||||
Media – 2.6% | ||||||
2,035,414 | Comcast Corp | 114,288,496 | ||||
Metals & Mining – 2.7% | ||||||
2,023,024 | Freeport-McMoRan Inc | 76,288,235 | ||||
648,003 | Newmont Corp | 40,441,867 | ||||
Total Metals & Mining | 116,730,102 | |||||
Mortgage Real Estate Investment Trust – 2.3% | ||||||
2,929,707 | AGNC Investment Corp | 52,529,647 | ||||
5,060,154 | Annaly Capital Management Inc | 45,946,198 | ||||
Total Mortgage Real Estate Investment Trust | 98,475,845 | |||||
Oil, Gas & Consumable Fuels – 1.6% | ||||||
448,430 | Pioneer Natural Resources Co | 68,981,987 | ||||
Pharmaceuticals – 1.9% | ||||||
1,566,984 | AstraZeneca PLC, Sponsored ADR, (3) | 83,159,841 |
Shares | Description (1) | Value | ||||
Road & Rail – 1.8% | ||||||
352,066 | Union Pacific Corp | $ 78,190,338 | ||||
Semiconductors & Semiconductor Equipment – 3.8% | ||||||
533,454 | Applied Materials Inc | 70,794,680 | ||||
86,007 | Broadcom Inc | 39,236,394 | ||||
286,361 | NXP Semiconductors NV | 55,127,356 | ||||
Total Semiconductors & Semiconductor Equipment | 165,158,430 | |||||
Tobacco – 2.7% | ||||||
1,208,742 | Philip Morris International Inc | 114,830,490 | ||||
Total Long-Term Investments (cost $3,458,588,501) | 4,311,209,358 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 1.9% | ||||||
MONEY MARKET FUNDS – 1.9% | ||||||
80,549,381 | State Street Navigator Securities Lending Government Money Market Portfolio, (4) | 0.020% (5) | $ 80,549,381 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $80,549,381) | 80,549,381 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 0.2% | ||||||
REPURCHASE AGREEMENTS – 0.2% | ||||||
$ 7,924 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $7,924,053, collateralized $8,471,100 U.S. Treasury Notes, 0.500%, due 10/31/2027, value $8,082,624 | 0.000% | 5/03/21 | $ 7,924,053 | ||
Total Short-Term Investments (cost $7,924,053) | 7,924,053 | |||||
Total Investments (cost $3,547,061,935) – 101.7% | 4,399,682,792 | |||||
Other Assets Less Liabilities – (1.7)% | (73,706,341) | |||||
Net Assets – 100% | $ 4,325,976,451 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | For fair value measurement disclosure purposes, investment classified as Level 2. See Notes to Financial Statements, Note 3 - Investment Valuation and Fair Value Measurements for more information. | |
(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 $80,549,381. | |
(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 one-day yield as of the end of the reporting period. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.8% | ||||||
COMMON STOCKS – 98.8% | ||||||
Aerospace & Defense – 0.9% | ||||||
17,699 | L3Harris Technologies Inc | $ 3,703,162 | ||||
Airlines – 1.7% | ||||||
99,856 | Alaska Air Group Inc, (2) | 6,904,044 | ||||
Banks – 6.4% | ||||||
61,275 | East West Bancorp Inc | 4,666,091 | ||||
133,904 | Fifth Third Bancorp | 5,428,468 | ||||
24,293 | First Republic Bank/CA | 4,451,449 | ||||
24,642 | Signature Bank/New York NY | 6,197,710 | ||||
44,249 | Western Alliance Bancorp | 4,649,243 | ||||
Total Banks | 25,392,961 | |||||
Biotechnology – 2.1% | ||||||
143,017 | Alkermes PLC, (2) | 3,147,089 | ||||
26,239 | United Therapeutics Corp, (2) | 5,288,733 | ||||
Total Biotechnology | 8,435,822 | |||||
Building Products – 2.8% | ||||||
97,087 | Carrier Global Corp | 4,231,052 | ||||
71,857 | Owens Corning | 6,956,476 | ||||
Total Building Products | 11,187,528 | |||||
Capital Markets – 3.2% | ||||||
38,913 | Evercore Inc, Class A | 5,452,879 | ||||
53,698 | Raymond James Financial Inc | 7,022,624 | ||||
Total Capital Markets | 12,475,503 | |||||
Chemicals – 4.3% | ||||||
31,165 | Celanese Corp | 4,881,997 | ||||
184,883 | Huntsman Corp | 5,300,596 | ||||
39,105 | PPG Industries Inc | 6,696,340 | ||||
Total Chemicals | 16,878,933 | |||||
Communications Equipment – 1.1% | ||||||
86,056 | Ciena Corp, (2) | 4,343,246 | ||||
Construction Materials – 1.8% | ||||||
246,064 | Summit Materials Inc, Class A, (2) | 7,084,182 |
Shares | Description (1) | Value | ||||
Consumer Finance – 1.7% | ||||||
117,041 | OneMain Holdings Inc | $ 6,656,122 | ||||
Diversified Financial Services – 1.8% | ||||||
103,522 | Voya Financial Inc | 7,020,862 | ||||
Electric Utilities – 1.4% | ||||||
51,764 | Entergy Corp | 5,657,287 | ||||
Electrical Equipment – 1.3% | ||||||
27,174 | Hubbell Inc | 5,217,680 | ||||
Electronic Equipment, Instruments & Components – 1.7% | ||||||
151,176 | Avnet Inc | 6,639,650 | ||||
Equity Real Estate Investment Trust – 9.2% | ||||||
256,528 | Apple Hospitality REIT Inc | 4,068,534 | ||||
279,195 | Brandywine Realty Trust | 3,777,509 | ||||
118,965 | First Industrial Realty Trust Inc | 5,920,888 | ||||
88,772 | Highwoods Properties Inc | 3,976,098 | ||||
117,103 | Invitation Homes Inc | 4,105,631 | ||||
18,797 | Mid-America Apartment Communities Inc | 2,957,332 | ||||
80,326 | Regency Centers Corp | 5,113,553 | ||||
132,044 | VEREIT Inc | 6,316,985 | ||||
Total Equity Real Estate Investment Trust | 36,236,530 | |||||
Food Products – 0.9% | ||||||
27,281 | J M Smucker Co | 3,573,538 | ||||
Health Care Equipment & Supplies – 2.5% | ||||||
97,767 | Envista Holdings Corp, (2) | 4,231,356 | ||||
32,062 | Zimmer Biomet Holdings Inc | 5,680,104 | ||||
Total Health Care Equipment & Supplies | 9,911,460 | |||||
Health Care Providers & Services – 2.9% | ||||||
107,908 | Centene Corp, (2) | 6,662,240 | ||||
250,023 | Option Care Health Inc, (2) | 4,770,439 | ||||
Total Health Care Providers & Services | 11,432,679 | |||||
Hotels, Restaurants & Leisure – 4.4% | ||||||
35,234 | Darden Restaurants Inc | 5,169,532 | ||||
124,899 | MGM Resorts International | 5,085,887 | ||||
109,388 | Travel + Leisure Co | 7,058,808 | ||||
Total Hotels, Restaurants & Leisure | 17,314,227 | |||||
Household Durables – 3.1% | ||||||
71,990 | DR Horton Inc | 7,075,897 |
Shares | Description (1) | Value | ||||
Household Durables (continued) | ||||||
22,372 | Whirlpool Corp | $ 5,289,859 | ||||
Total Household Durables | 12,365,756 | |||||
Household Products – 2.1% | ||||||
88,371 | Energizer Holdings Inc | 4,356,690 | ||||
44,803 | Spectrum Brands Holdings Inc | 3,948,937 | ||||
Total Household Products | 8,305,627 | |||||
Insurance – 3.0% | ||||||
195,175 | CNO Financial Group Inc | 4,982,818 | ||||
102,150 | Hartford Financial Services Group Inc | 6,737,814 | ||||
Total Insurance | 11,720,632 | |||||
IT Services – 1.1% | ||||||
19,099 | VeriSign Inc, (2) | 4,178,288 | ||||
Leisure Products – 2.1% | ||||||
77,239 | Brunswick Corp/DE | 8,274,614 | ||||
Machinery – 7.4% | ||||||
32,548 | AGCO Corp | 4,749,404 | ||||
64,766 | Crane Co | 6,091,890 | ||||
19,083 | Parker-Hannifin Corp | 5,988,436 | ||||
34,370 | Stanley Black & Decker Inc | 7,106,685 | ||||
65,065 | Timken Co | 5,457,002 | ||||
Total Machinery | 29,393,417 | |||||
Media – 1.6% | ||||||
309,803 | TEGNA Inc | 6,214,648 | ||||
Metals & Mining – 1.4% | ||||||
100,191 | Steel Dynamics Inc | 5,432,356 | ||||
Mortgage Real Estate Investment Trust – 1.9% | ||||||
125,061 | AGNC Investment Corp | 2,242,343 | ||||
200,562 | Starwood Property Trust Inc | 5,178,511 | ||||
Total Mortgage Real Estate Investment Trust | 7,420,854 | |||||
Multiline Retail – 0.7% | ||||||
13,875 | Dollar General Corp | 2,979,656 | ||||
Multi-Utilities – 4.4% | ||||||
53,225 | Ameren Corp | 4,515,609 | ||||
290,369 | CenterPoint Energy Inc | 7,111,137 | ||||
93,075 | Public Service Enterprise Group Inc | 5,878,617 | ||||
Total Multi-Utilities | 17,505,363 |
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels – 4.2% | ||||||
346,330 | Devon Energy Corp | $8,097,195 | ||||
34,758 | Pioneer Natural Resources Co | 5,346,823 | ||||
131,204 | Williams Cos Inc | 3,196,130 | ||||
Total Oil, Gas & Consumable Fuels | 16,640,148 | |||||
Pharmaceuticals – 1.0% | ||||||
23,020 | Jazz Pharmaceuticals PLC, (2) | 3,784,488 | ||||
Road & Rail – 2.3% | ||||||
19,706 | Kansas City Southern | 5,758,290 | ||||
38,073 | TFI International Inc | 3,337,099 | ||||
Total Road & Rail | 9,095,389 | |||||
Semiconductors & Semiconductor Equipment – 3.2% | ||||||
164,203 | Marvell Technology Inc | 7,423,618 | ||||
28,704 | Skyworks Solutions Inc | 5,204,896 | ||||
Total Semiconductors & Semiconductor Equipment | 12,628,514 | |||||
Software – 2.4% | ||||||
30,611 | Check Point Software Technologies Ltd, (2) | 3,575,671 | ||||
24,229 | Synopsys Inc, (2) | 5,986,017 | ||||
Total Software | 9,561,688 | |||||
Specialty Retail – 2.7% | ||||||
56,661 | AutoNation Inc, (2) | 5,806,619 | ||||
42,027 | Best Buy Co Inc | 4,886,479 | ||||
Total Specialty Retail | 10,693,098 | |||||
Thrifts & Mortgage Finance – 1.1% | ||||||
182,848 | Radian Group Inc | 4,505,375 | ||||
Trading Companies & Distributors – 1.0% | ||||||
43,319 | WESCO International Inc, (2) | 3,973,219 | ||||
Total Long-Term Investments (cost $263,377,787) | 390,738,546 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.3% | ||||||
REPURCHASE AGREEMENTS – 1.3% | ||||||
$ 5,316 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $5,316,225, collateralized $5,683,200 U.S. Treasury Notes, 0.500%, due 10/31/2027, value $5,422,574 | 0.000% | 5/03/21 | $ 5,316,225 | ||
Total Short-Term Investments (cost $5,316,225) | 5,316,225 | |||||
Total Investments (cost $268,694,012) – 100.1% | 396,054,771 | |||||
Other Assets Less Liabilities – (0.1)% | (418,291) | |||||
Net Assets – 100% | $ 395,636,480 |
(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. | |
REIT | Real Estate Investment Trust |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.2% | ||||||
COMMON STOCKS – 99.2% | ||||||
Aerospace & Defense – 0.7% | ||||||
130,088 | Parsons Corp, (2) | $ 5,766,801 | ||||
Air Freight & Logistics – 1.3% | ||||||
424,389 | Air Transport Services Group Inc, (2) | 11,169,918 | ||||
Auto Components – 1.7% | ||||||
577,087 | Dana Inc | 14,600,301 | ||||
Automobiles – 1.4% | ||||||
88,913 | Thor Industries Inc | 12,589,192 | ||||
Banks – 15.0% | ||||||
206,079 | Ameris Bancorp | 11,146,813 | ||||
275,631 | Banner Corp | 15,666,866 | ||||
272,343 | Cathay General Bancorp | 11,024,445 | ||||
212,205 | First Busey Corp | 5,300,881 | ||||
262,872 | First Interstate BancSystem Inc | 12,347,098 | ||||
219,994 | Heartland Financial USA Inc | 11,059,098 | ||||
1,028,872 | Investors Bancorp Inc | 15,062,686 | ||||
176,238 | Pinnacle Financial Partners Inc | 15,445,498 | ||||
195,451 | Preferred Bank/Los Angeles CA | 12,809,859 | ||||
81,735 | Western Alliance Bancorp | 8,587,896 | ||||
141,010 | Wintrust Financial Corp | 10,871,871 | ||||
Total Banks | 129,323,011 | |||||
Biotechnology – 1.1% | ||||||
45,573 | United Therapeutics Corp, (2) | 9,185,694 | ||||
Building Products – 3.8% | ||||||
102,239 | Gibraltar Industries Inc, (2) | 9,391,675 | ||||
348,259 | Quanex Building Products Corp | 9,503,988 | ||||
466,537 | Resideo Technologies Inc, (2) | 14,000,775 | ||||
Total Building Products | 32,896,438 | |||||
Capital Markets – 2.8% | ||||||
79,749 | Evercore Inc, Class A | 11,175,227 | ||||
110,446 | Piper Sandler Cos | 12,810,632 | ||||
Total Capital Markets | 23,985,859 |
Shares | Description (1) | Value | ||||
Chemicals – 3.1% | ||||||
175,258 | Minerals Technologies Inc | $13,694,660 | ||||
605,748 | Tronox Holdings PLC | 12,841,858 | ||||
Total Chemicals | 26,536,518 | |||||
Commercial Services & Supplies – 2.9% | ||||||
267,435 | Deluxe Corp | 11,772,489 | ||||
386,415 | SP Plus Corp, (2) | 13,265,627 | ||||
Total Commercial Services & Supplies | 25,038,116 | |||||
Communications Equipment – 1.4% | ||||||
125,342 | NETGEAR Inc, (2) | 4,663,976 | ||||
267,822 | Radware Ltd, (2) | 7,421,347 | ||||
Total Communications Equipment | 12,085,323 | |||||
Construction & Engineering – 1.7% | ||||||
152,596 | Aegion Corp, (2) | 4,593,140 | ||||
81,970 | EMCOR Group Inc | 9,820,006 | ||||
Total Construction & Engineering | 14,413,146 | |||||
Construction Materials – 1.4% | ||||||
407,362 | Summit Materials Inc, Class A, (2) | 11,727,952 | ||||
Consumer Finance – 2.2% | ||||||
156,090 | OneMain Holdings Inc | 8,876,838 | ||||
196,649 | PROG Holdings Inc | 10,017,300 | ||||
Total Consumer Finance | 18,894,138 | |||||
Diversified Telecommunication Services – 0.8% | ||||||
508,248 | Vonage Holdings Corp, (2) | 6,886,760 | ||||
Electrical Equipment – 0.8% | ||||||
219,572 | nVent Electric PLC | 6,685,967 | ||||
Electronic Equipment, Instruments & Components – 2.5% | ||||||
285,247 | Avnet Inc | 12,528,048 | ||||
589,787 | TTM Technologies Inc, (2) | 8,846,805 | ||||
Total Electronic Equipment, Instruments & Components | 21,374,853 | |||||
Equity Real Estate Investment Trust – 7.7% | ||||||
616,075 | Brandywine Realty Trust | 8,335,495 | ||||
644,057 | Global Medical REIT Inc | 9,248,658 | ||||
894,163 | Lexington Realty Trust | 10,944,555 | ||||
522,905 | Retail Opportunity Investments Corp | 9,203,128 | ||||
597,153 | RLJ Lodging Trust | 9,638,049 | ||||
248,939 | STAG Industrial Inc | 9,088,763 | ||||
547,357 | Summit Hotel Properties Inc, (2) | 5,566,621 | ||||
178,585 | Washington Real Estate Investment Trust | 4,146,744 | ||||
Total Equity Real Estate Investment Trust | 66,172,013 |
Shares | Description (1) | Value | ||||
Food Products – 1.1% | ||||||
602,982 | Hostess Brands Inc, (2) | $ 9,219,595 | ||||
Gas Utilities – 1.8% | ||||||
84,920 | ONE Gas Inc | 6,833,512 | ||||
116,564 | Spire Inc | 8,781,932 | ||||
Total Gas Utilities | 15,615,444 | |||||
Health Care Equipment & Supplies – 1.0% | ||||||
352,825 | Natus Medical Inc, (2) | 9,014,679 | ||||
Health Care Providers & Services – 2.4% | ||||||
136,084 | AMN Healthcare Services Inc, (2) | 10,791,461 | ||||
529,543 | Option Care Health Inc, (2) | 10,103,681 | ||||
Total Health Care Providers & Services | 20,895,142 | |||||
Hotels, Restaurants & Leisure – 3.9% | ||||||
138,292 | Dine Brands Global Inc, (2) | 13,365,922 | ||||
62,916 | Jack in the Box Inc | 7,590,815 | ||||
72,962 | Marriott Vacations Worldwide Corp, (2) | 12,960,240 | ||||
Total Hotels, Restaurants & Leisure | 33,916,977 | |||||
Household Durables – 3.1% | ||||||
254,518 | La-Z-Boy Inc | 11,315,870 | ||||
224,906 | M/I Homes Inc, (2) | 15,680,447 | ||||
Total Household Durables | 26,996,317 | |||||
Household Products – 0.7% | ||||||
73,381 | Spectrum Brands Holdings Inc | 6,467,801 | ||||
Insurance – 2.8% | ||||||
150,491 | Argo Group International Holdings Ltd, (2) | 7,852,620 | ||||
46,070 | BRP Group Inc, (2) | 1,336,951 | ||||
338,365 | CNO Financial Group Inc | 8,638,459 | ||||
167,329 | Horace Mann Educators Corp | 6,709,893 | ||||
Total Insurance | 24,537,923 | |||||
IT Services – 0.7% | ||||||
41,536 | Concentrix Corp, (2) | 6,453,864 | ||||
Leisure Products – 1.3% | ||||||
104,032 | Brunswick Corp/DE | 11,144,948 | ||||
Machinery – 1.5% | ||||||
326,955 | Kennametal Inc | 13,130,513 | ||||
Media – 0.7% | ||||||
324,907 | TEGNA Inc | 6,517,634 |
Shares | Description (1) | Value | ||||
Metals & Mining – 2.8% | ||||||
184,733 | Alcoa Corp, (2) | $6,768,617 | ||||
326,555 | Commercial Metals Co | 9,541,937 | ||||
112,095 | Compass Minerals International Inc | 7,613,493 | ||||
Total Metals & Mining | 23,924,047 | |||||
Mortgage Real Estate Investment Trust – 1.4% | ||||||
1,001,140 | Ladder Capital Corp | 11,903,555 | ||||
Multi-Utilities – 1.2% | ||||||
145,943 | Black Hills Corp | 10,067,148 | ||||
Oil, Gas & Consumable Fuels – 4.8% | ||||||
529,512 | Brigham Minerals Inc | 9,075,836 | ||||
326,754 | CNX Resources Corp, (2) | 4,385,039 | ||||
1,207,058 | Magnolia Oil & Gas Corp, (2) | 13,591,473 | ||||
531,856 | Matador Resources Co | 13,993,131 | ||||
Total Oil, Gas & Consumable Fuels | 41,045,479 | |||||
Professional Services – 1.7% | ||||||
217,113 | Korn Ferry | 14,739,801 | ||||
Road & Rail – 1.9% | ||||||
183,358 | TFI International Inc | 16,071,329 | ||||
Semiconductors & Semiconductor Equipment – 2.8% | ||||||
90,387 | Diodes Inc, (2) | 6,942,625 | ||||
56,987 | Synaptics Inc, (2) | 7,970,772 | ||||
174,591 | Ultra Clean Holdings Inc, (2) | 8,916,362 | ||||
Total Semiconductors & Semiconductor Equipment | 23,829,759 | |||||
Software – 1.0% | ||||||
72,632 | J2 Global Inc, (2) | 8,788,472 | ||||
Specialty Retail – 1.6% | ||||||
82,724 | Group 1 Automotive Inc | 13,579,972 | ||||
Textiles, Apparel & Luxury Goods – 1.6% | ||||||
329,876 | Wolverine World Wide Inc | 13,762,427 | ||||
Thrifts & Mortgage Finance – 3.6% | ||||||
249,918 | Flagstar Bancorp Inc | 11,631,184 | ||||
549,930 | Radian Group Inc | 13,550,275 | ||||
121,799 | WSFS Financial Corp | 6,222,711 | ||||
Total Thrifts & Mortgage Finance | 31,404,170 | |||||
Trading Companies & Distributors – 1.5% | ||||||
142,361 | WESCO International Inc, (2) | 13,057,351 | ||||
Total Long-Term Investments (cost $585,321,964) | 855,416,347 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 0.2% | ||||||
REPURCHASE AGREEMENTS – 0.2% | ||||||
$ 1,504 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $1,503,817, collateralized $1,607,700 U.S. Treasury Notes, 0.500%, due 10/31/2027, value $1,533,972 | 0.000% | 5/03/21 | $ 1,503,817 | ||
Total Short-Term Investments (cost $1,503,817) | 1,503,817 | |||||
Total Investments (cost $586,825,781) – 99.4% | 856,920,164 | |||||
Other Assets Less Liabilities – 0.6% | 4,966,721 | |||||
Net Assets – 100% | $ 861,886,885 |
(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. | |
REIT | Real Estate Investment Trust |
Dividend Value | Mid Cap Value | Small Cap Value | |
Assets | |||
Long-term investments, at value (cost $3,458,588,501, $263,377,787 and $585,321,964, respectively)(1) | $4,311,209,358 | $390,738,546 | $855,416,347 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | 80,549,381 | — | — |
Short-term investments, at value (cost approximates value) | 7,924,053 | 5,316,225 | 1,503,817 |
Receivable for: | |||
Dividends | 4,625,753 | 118,221 | 102,274 |
Due from affiliate | 202,458 | 21,215 | 45,920 |
Investments sold | 62,085,077 | — | 12,742,791 |
Reclaims | — | — | 2,744 |
Shares sold | 388,443 | 394,239 | 1,503,574 |
Other assets | 328,394 | 55,662 | 108,275 |
Total assets | 4,467,312,917 | 396,644,108 | 871,425,742 |
Liabilities | |||
Payable for: | |||
Collateral from securities lending program | 80,549,381 | — | — |
Investments purchased - regular settlement | 21,828,430 | — | 6,469,210 |
Shares redeemed | 35,227,077 | 497,291 | 1,600,137 |
Accrued expenses: | |||
Directors fees | 312,119 | 18,431 | 66,254 |
Management fees | 2,295,096 | 178,928 | 546,675 |
Shareholder servicing agent fees | 590,210 | 219,261 | 497,987 |
12b-1 distribution and service fees | 105,860 | 21,114 | 60,425 |
Other | 428,293 | 72,603 | 298,169 |
Total liabilities | 141,336,466 | 1,007,628 | 9,538,857 |
Net assets | $4,325,976,451 | $395,636,480 | $861,886,885 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Class A Shares | |||
Net assets | $ 409,599,025 | $ 60,080,482 | $ 135,567,109 |
Shares outstanding | 26,713,205 | 1,141,421 | 4,968,918 |
Net asset value ("NAV") per share | $ 15.33 | $ 52.64 | $ 27.28 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 16.27 | $ 55.85 | $ 28.94 |
Class C Shares | |||
Net assets | $ 17,722,630 | $ 5,947,595 | $ 30,069,327 |
Shares outstanding | 1,180,468 | 120,340 | 1,314,838 |
NAV and offering price per share | $ 15.01 | $ 49.42 | $ 22.87 |
Class R3 Shares | |||
Net assets | $ 21,044,591 | $ 10,412,147 | $ 20,231,816 |
Shares outstanding | 1,379,033 | 200,482 | 758,712 |
NAV and offering price per share | $ 15.26 | $ 51.94 | $ 26.67 |
Class R6 Shares | |||
Net assets | $3,364,375,856 | $ 24,207,473 | $ 195,467,990 |
Shares outstanding | 214,397,566 | 457,409 | 6,886,974 |
NAV and offering price per share | $ 15.69 | $ 52.92 | $ 28.38 |
Class I Shares | |||
Net assets | $ 513,234,349 | $294,988,783 | $ 480,550,643 |
Shares outstanding | 32,997,811 | 5,586,058 | 17,007,510 |
NAV and offering price per share | $ 15.55 | $ 52.81 | $ 28.26 |
Fund level net assets consist of: | |||
Capital paid-in | $3,473,547,735 | $270,397,813 | $ 981,898,044 |
Total distributable earnings | 852,428,716 | 125,238,667 | (120,011,159) |
Fund level net assets | $4,325,976,451 | $395,636,480 | $ 861,886,885 |
Authorized shares - per class | 2 billion | 2 billion | 2 billion |
Par value per share | $ 0.0001 | $ 0.0001 | $ 0.0001 |
(1) | Includes securities loaned of $80,549,381 for Dividend Value. |
Dividend Value | Mid Cap Value | Small Cap Value | |
Investment Income | |||
Dividends | $ 46,367,388 | $ 2,383,308 | $ 4,130,494 |
Securities lending income, net | 24,309 | — | — |
Payment from affiliate | 382,934 | 27,819 | 41,767 |
Foreign tax withheld on dividend income | (200,310) | — | (14,518) |
Total investment income | 46,574,321 | 2,411,127 | 4,157,743 |
Expenses | |||
Management fees | 11,886,894 | 1,356,333 | 3,243,727 |
12b-1 service fees - Class A Shares | 422,350 | 63,548 | 159,433 |
12b-1 distribution and service fees - Class C Shares | 89,426 | 27,422 | 137,534 |
12b-1 distribution and service fees - Class R3 Shares | 48,565 | 23,534 | 48,694 |
Shareholder servicing agent fees | 524,552 | 250,068 | 646,162 |
Interest expense | 4,762 | 609 | 2,126 |
Custodian fees | 133,093 | 20,864 | 38,375 |
Professional fees | 97,466 | 20,120 | 39,472 |
Directors fees | 51,751 | 4,667 | 11,696 |
Shareholder reporting expenses | 123,314 | 59,505 | 156,032 |
Federal and state registration fees | 109,034 | 40,793 | 45,614 |
Other | 44,477 | 5,085 | 15,653 |
Total expenses before fee waiver/expense reimbursement | 13,535,684 | 1,872,548 | 4,544,518 |
Fee waiver/expense reimbursement | (757,624) | (189,534) | (432,892) |
Net expenses | 12,778,060 | 1,683,014 | 4,111,626 |
Net investment income (loss) | 33,796,261 | 728,113 | 46,117 |
Realized and Unrealized Gain (Loss) | |||
Net realized gain (loss) from investments | 257,942,225 | 19,157,072 | 62,627,964 |
Change in net unrealized appreciation (depreciation) of investments | 794,229,765 | 107,943,298 | 307,123,335 |
Net realized and unrealized gain (loss) | 1,052,171,990 | 127,100,370 | 369,751,299 |
Net increase (decrease) in net assets from operations | $1,085,968,251 | $127,828,483 | $369,797,416 |
Dividend Value | Mid Cap Value | Small Cap Value | ||||||
Unaudited Six Months Ended 4/30/21 | Year Ended 10/31/20 | Unaudited Six Months Ended 4/30/21 | Year Ended 10/31/20 | Unaudited Six Months Ended 4/30/21 | Year Ended 10/31/20 | |||
Operations | ||||||||
Net investment income (loss) | $ 33,796,261 | $ 46,075,544 | $ 728,113 | $ 4,076,016 | $ 46,117 | $ 7,664,603 | ||
Net realized gain (loss) from investments | 257,942,225 | (257,589,583) | 19,157,072 | (16,735,376) | 62,627,964 | (249,629,635) | ||
Change in net unrealized appreciation (depreciation) of investments | 794,229,765 | (118,207,869) | 107,943,298 | (17,332,927) | 307,123,335 | (90,841,610) | ||
Net increase (decrease) in net assets from operations | 1,085,968,251 | (329,721,908) | 127,828,483 | (29,992,287) | 369,797,416 | (332,806,642) | ||
Distributions to Shareholders | ||||||||
Dividends: | ||||||||
Class A Shares | (2,304,301) | (15,472,136) | (501,238) | (508,084) | (414,977) | (1,836,890) | ||
Class C Shares | (50,755) | (1,489,974) | (22,059) | (15,371) | — | (81,329) | ||
Class R3 Shares | (94,855) | (1,576,425) | (116,499) | (67,895) | (24,047) | (244,673) | ||
Class R6 Shares | (28,360,847) | (97,882,498) | (261,456) | (243,451) | (1,219,971) | (1,601,689) | ||
Class I Shares | (3,895,572) | (47,380,587) | (3,173,542) | (2,966,388) | (2,536,323) | (13,780,598) | ||
Decrease in net assets from distributions to shareholders | (34,706,330) | (163,801,620) | (4,074,794) | (3,801,189) | (4,195,318) | (17,545,179) | ||
Fund Share Transactions | ||||||||
Fund reorganization(1) | 238,529,483 | — | — | — | — | — | ||
Proceeds from sale of shares | 812,229,001 | 2,464,946,196 | 40,811,870 | 85,442,584 | 210,026,911 | 361,329,925 | ||
Proceeds from shares issued to shareholders due to reinvestment of distributions | 34,113,751 | 157,517,457 | 3,772,523 | 3,481,369 | 3,362,724 | 14,169,324 | ||
1,084,872,235 | 2,622,463,653 | 44,584,393 | 88,923,953 | 213,389,635 | 375,499,249 | |||
Cost of shares redeemed | (431,944,994) | (483,251,000) | (57,641,421) | (113,716,945) | (404,352,494) | (996,917,643) | ||
Net increase (decrease) in net assets from Fund share transactions | 652,927,241 | 2,139,212,653 | (13,057,028) | (24,792,992) | (190,962,859) | (621,418,394) | ||
Net increase (decrease) in net assets | 1,704,189,162 | 1,645,689,125 | 110,696,661 | (58,586,468) | 174,639,239 | (971,770,215) | ||
Net assets at the beginning of period | 2,621,787,289 | 976,098,164 | 284,939,819 | 343,526,287 | 687,247,646 | 1,659,017,861 | ||
Net assets at the end of period | $4,325,976,451 | $2,621,787,289 | $395,636,480 | $ 284,939,819 | $ 861,886,885 | $ 687,247,646 |
(1) | Refer to Note 9 - Fund Reorganization for further details. |
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) | |||||||||
2021(f) | $11.44 | $0.09 | $ 3.89 | $ 3.98 | $(0.09) | $ — | $(0.09) | $15.33 | |
2020 | 14.21 | 0.25 | (1.98) | (1.73) | (0.23) | (0.81) | (1.04) | 11.44 | |
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 | |
Class C (02/99) | |||||||||
2021(f) | 11.21 | 0.04 | 3.80 | 3.84 | (0.04) | — | (0.04) | 15.01 | |
2020 | 13.93 | 0.15 | (1.92) | (1.77) | (0.14) | (0.81) | (0.95) | 11.21 | |
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 | |
Class R3 (09/01) | |||||||||
2021(f) | 11.39 | 0.08 | 3.86 | 3.94 | (0.07) | — | (0.07) | 15.26 | |
2020 | 14.14 | 0.21 | (1.95) | (1.74) | (0.20) | (0.81) | (1.01) | 11.39 | |
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 | |
Class R6 (02/13) | |||||||||
2021(f) | 11.72 | 0.13 | 3.97 | 4.10 | (0.13) | — | (0.13) | 15.69 | |
2020 | 14.54 | 0.30 | (2.02) | (1.72) | (0.29) | (0.81) | (1.10) | 11.72 | |
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 | |
Class I (08/94) | |||||||||
2021(f) | 11.61 | 0.12 | 3.93 | 4.05 | (0.11) | — | (0.11) | 15.55 | |
2020 | 14.42 | 0.28 | (2.01) | (1.73) | (0.27) | (0.81) | (1.08) | 11.61 | |
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 |
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) | |
34.86% | $ 409,599 | 1.00%* | 1.30%* | 1.28%* | 0.96%* | 1.35%* | 1.33%* | 59% | |
(13.12) | 158,645 | 1.09 | 2.00 | 2.00 | 1.08 | 2.01 | N/A | 117 | |
9.81 | 215,710 | 1.11 | 1.94 | N/A | 1.11 | 1.94 | N/A | 93 | |
3.72 | 264,271 | 1.08 | 1.68 | N/A | 1.08 | 1.68 | N/A | 68 | |
20.95 | 269,063 | 1.08 | 1.46 | N/A | 1.08 | 1.46 | N/A | 56 | |
5.33 | 259,457 | 1.14 | 1.69 | N/A | 1.14 | 1.69 | N/A | 67 | |
34.28 | 17,723 | 1.75* | 0.62* | 0.60* | 1.71* | 0.66* | 0.64* | 59 | |
(13.75) | 11,881 | 1.84 | 1.24 | 1.24 | 1.83 | 1.25 | N/A | 117 | |
8.98 | 23,083 | 1.86 | 1.19 | N/A | 1.86 | 1.19 | N/A | 93 | |
2.98 | 31,111 | 1.83 | 0.95 | N/A | 1.83 | 0.95 | N/A | 68 | |
20.09 | 39,825 | 1.83 | 0.72 | N/A | 1.83 | 0.72 | N/A | 56 | |
4.46 | 43,097 | 1.89 | 0.94 | N/A | 1.89 | 0.94 | N/A | 67 | |
34.61 | 21,045 | 1.25* | 1.15* | 1.13* | 1.22* | 1.19* | 1.17* | 59 | |
(13.28) | 16,717 | 1.34 | 1.75 | 1.74 | 1.33 | 1.76 | N/A | 117 | |
9.50 | 23,091 | 1.36 | 1.68 | N/A | 1.36 | 1.68 | N/A | 93 | |
3.53 | 27,927 | 1.33 | 1.44 | N/A | 1.33 | 1.44 | N/A | 68 | |
20.64 | 33,639 | 1.33 | 1.21 | N/A | 1.33 | 1.21 | N/A | 56 | |
5.01 | 31,758 | 1.39 | 1.49 | N/A | 1.39 | 1.49 | N/A | 67 | |
35.07 | 3,364,376 | 0.64* | 1.76* | 1.74* | 0.60* | 1.80* | 1.78* | 59 | |
(12.80) | 2,025,717 | 0.70 | 2.41 | 2.40 | 0.71 | 2.40 | N/A | 117 | |
10.29 | 52,824 | 0.72 | 2.30 | N/A | 0.72 | 2.30 | N/A | 93 | |
4.15 | 172,215 | 0.72 | 2.05 | N/A | 0.72 | 2.05 | N/A | 68 | |
21.40 | 188,356 | 0.73 | 1.63 | N/A | 0.73 | 1.63 | N/A | 56 | |
5.63 | 50,588 | 0.79 | 2.04 | N/A | 0.79 | 2.04 | N/A | 67 | |
35.01 | 513,234 | 0.75* | 1.63* | 1.61* | 0.72* | 1.67* | 1.65* | 59 | |
(12.96) | 408,828 | 0.84 | 2.25 | 2.24 | 0.83 | 2.26 | N/A | 117 | |
10.14 | 661,390 | 0.86 | 2.18 | N/A | 0.86 | 2.18 | N/A | 93 | |
4.02 | 617,086 | 0.83 | 1.94 | N/A | 0.83 | 1.94 | N/A | 68 | |
21.25 | 561,047 | 0.83 | 1.73 | N/A | 0.83 | 1.73 | N/A | 56 | |
5.56 | 654,967 | 0.89 | 1.95 | N/A | 0.89 | 1.95 | N/A | 67 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the periods ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share class 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) | Unaudited. For the six months ended April 30, 2021. |
* | 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) | |||||||||
2021(f) | $36.53 | $ 0.04 | $16.52 | $16.56 | $(0.45) | $ — | $(0.45) | $52.64 | |
2020 | 41.07 | 0.43 | (4.59) | (4.16) | (0.38) | — | (0.38) | 36.53 | |
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 | |
Class C (02/99) | |||||||||
2021(f) | 34.21 | (0.12) | 15.50 | 15.38 | (0.17) | — | (0.17) | 49.42 | |
2020 | 38.49 | 0.14 | (4.34) | (4.20) | (0.08) | — | (0.08) | 34.21 | |
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 | |
Class R3 (09/01) | |||||||||
2021(f) | 36.17 | — | 16.32 | 16.32 | (0.55) | — | (0.55) | 51.94 | |
2020 | 40.67 | 0.33 | (4.55) | (4.22) | (0.28) | — | (0.28) | 36.17 | |
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 | |
Class R6 (06/18) | |||||||||
2021(f) | 36.78 | 0.14 | 16.59 | 16.73 | (0.59) | — | (0.59) | 52.92 | |
2020 | 41.32 | 0.57 | (4.59) | (4.02) | (0.52) | — | (0.52) | 36.78 | |
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) | |||||||||
2021(f) | 36.69 | 0.11 | 16.56 | 16.67 | (0.55) | — | (0.55) | 52.81 | |
2020 | 41.24 | 0.52 | (4.59) | (4.07) | (0.48) | — | (0.48) | 36.69 | |
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 |
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) | |
45.63% | $ 60,080 | 1.27%*** | 0.08%*** | 0.06%*** | 1.16%*** | 0.19%*** | 0.17%*** | 19% | |
(10.26) | 41,258 | 1.27 | 1.06 | 1.05 | 1.17 | 1.16 | 1.15 | 56 | |
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 | |
45.05 | 5,948 | 2.02*** | (0.65)*** | (0.68)*** | 1.91*** | (0.55)*** | (0.57)*** | 19 | |
(10.94) | 4,649 | 2.02 | 0.29 | 0.28 | 1.92 | 0.40 | 0.39 | 56 | |
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 | |
45.44 | 10,412 | 1.52*** | (0.10)*** | (0.12)*** | 1.41*** | 0.01*** | (0.01)*** | 19 | |
(10.47) | 8,182 | 1.52 | 0.81 | 0.80 | 1.42 | 0.91 | 0.90 | 56 | |
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 | |
45.87 | 24,207 | 0.87*** | 0.49*** | 0.47*** | 0.76*** | 0.60*** | 0.58*** | 19 | |
(9.91) | 16,762 | 0.89 | 1.44 | 1.43 | 0.78 | 1.54 | 1.53 | 56 | |
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 | |
45.77 | 294,989 | 1.02*** | 0.38*** | 0.36*** | 0.91*** | 0.49*** | 0.47*** | 19 | |
(10.03) | 214,089 | 1.02 | 1.31 | 1.30 | 0.92 | 1.41 | 1.40 | 56 | |
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 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the periods ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share class 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) | Unaudited. For the six months ended April 30, 2021. |
(g) | For the period June 20, 2018 (commencement of operations) through October 31, 2018. |
* | Rounds to less 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) | |||||||||
2021(f) | $17.30 | $(0.02) | $10.07 | $10.05 | $(0.07) | $ — | $(0.07) | $27.28 | |
2020 | 22.19 | 0.09 | (4.77) | (4.68) | (0.21) | — | (0.21) | 17.30 | |
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 | |
Class C (02/99) | |||||||||
2021(f) | 14.51 | (0.09) | 8.45 | 8.36 | — | — | — | 22.87 | |
2020 | 18.62 | (0.04) | (4.03) | (4.07) | (0.04) | — | (0.04) | 14.51 | |
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 | |
Class R3 (09/01) | |||||||||
2021(f) | 16.90 | (0.05) | 9.85 | 9.80 | (0.03) | — | (0.03) | 26.67 | |
2020 | 21.68 | 0.03 | (4.66) | (4.63) | (0.15) | — | (0.15) | 16.90 | |
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 | |
Class R6 (06/16) | |||||||||
2021(f) | 18.02 | — | 10.54 | 10.54 | (0.18) | — | (0.18) | 28.38 | |
2020 | 23.09 | 0.15 | (4.93) | (4.78) | (0.29) | — | (0.29) | 18.02 | |
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) | |||||||||
2021(f) | 17.93 | 0.02 | 10.43 | 10.45 | (0.12) | — | (0.12) | 28.26 | |
2020 | 23.00 | 0.16 | (4.96) | (4.80) | (0.27) | — | (0.27) | 17.93 | |
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 |
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) | |
58.21% | $ 135,567 | 1.30%** | (0.30)%** | (0.31)%** | 1.20%** | (0.20)%** | (0.21)%** | 19% | |
(21.33) | 105,402 | 1.30 | 0.38 | 0.36 | 1.20 | 0.48 | 0.46 | 30 | |
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 | |
57.62 | 30,069 | 2.05** | (1.09)** | (1.10)** | 1.95** | (0.98)** | (0.99)** | 19 | |
(21.93) | 22,263 | 2.05 | (0.38) | (0.40) | 1.95 | (0.28) | (0.30) | 30 | |
(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 | |
58.00 | 20,232 | 1.55** | (0.55)** | (0.56)** | 1.45** | (0.44)** | (0.45)** | 19 | |
(21.53) | 16,416 | 1.55 | 0.09 | 0.07 | 1.45 | 0.19 | 0.17 | 30 | |
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 | |
58.60 | 195,468 | 0.86** | (0.10)** | (0.11)** | 0.76** | —** | (0.01)** | 19 | |
(21.01) | 85,491 | 0.86 | 0.71 | 0.69 | 0.76 | 0.81 | 0.79 | 30 | |
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 | |
58.46 | 480,551 | 1.05** | 0.04** | 0.03** | 0.95** | 0.14** | 0.13** | 19 | |
(21.14) | 457,676 | 1.05 | 0.71 | 0.69 | 0.95 | 0.81 | 0.79 | 30 | |
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 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the periods ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share class 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) | Unaudited. For the six months ended April 30, 2021. |
(g) | For the period June 30, 2016 (commencement of operations) through October 31, 2016. |
* | 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. |
Dividend Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $4,291,120,978 | $20,088,380** | $ — | $4,311,209,358 |
Investments Purchased with Collateral from Securities Lending | 80,549,381 | — | — | 80,549,381 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 7,924,053 | — | 7,924,053 |
Total | $4,371,670,359 | $28,012,433 | $ — | $4,399,682,792 |
Mid Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $390,738,546 | $ — | $ — | $390,738,546 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 5,316,225 | — | 5,316,225 |
Total | $390,738,546 | $5,316,225 | $ — | $396,054,771 |
Small Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $855,416,347 | $ — | $ — | $855,416,347 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 1,503,817 | — | 1,503,817 |
Total | $855,416,347 | $1,503,817 | $ — | $856,920,164 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 2. |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty |
Dividend Value | Fixed Income Clearing Corporation | $7,924,053 | $(8,082,624) |
Mid Cap Value | Fixed Income Clearing Corporation | 5,316,225 | (5,422,574) |
Small Cap Value | Fixed Income Clearing Corporation | 1,503,817 | (1,533,972) |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Total Collateral Received |
Dividend Value | Common Stocks | $80,549,381 | $80,549,381 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Purchases | $2,663,411,658 | $65,195,267 | $155,688,914 |
Sales | 2,203,210,649 | 85,151,244 | 348,915,698 |
Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||||
Dividend Value | Shares | Amount | Shares | Amount | |
Shares issued in the Reorganization(1): | |||||
Class A | 14,146,957 | $ 187,318,787 | — | $ — | |
Class C | 627,042 | 8,132,038 | — | — | |
Class R3 | 6,476 | 85,328 | — | — | |
Class R6 | 14,338 | 194,379 | — | — | |
Class I | 3,185,887 | 42,798,951 | — | — | |
Shares sold: | |||||
Class A | 744,984 | 10,505,684 | 1,734,260 | 20,437,869 | |
Class A – automatic conversion of Class C Shares | 3,026 | 45,421 | 54 | 621 | |
Class C | 75,050 | 1,003,708 | 193,630 | 2,239,290 | |
Class R3 | 65,452 | 902,996 | 159,618 | 1,746,330 | |
Class R6 | 59,506,355 | 775,547,063 | 179,471,816 | 2,410,787,596 | |
Class I | 1,658,922 | 24,224,129 | 2,460,848 | 29,734,490 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 145,648 | 2,092,638 | 1,107,515 | 14,876,611 | |
Class C | 3,428 | 49,423 | 101,267 | 1,356,602 | |
Class R3 | 6,554 | 94,479 | 114,405 | 1,536,054 | |
Class R6 | 1,960,674 | 28,359,342 | 7,248,234 | 97,871,992 | |
Class I | 245,083 | 3,517,869 | 3,068,221 | 41,876,198 | |
82,395,876 | 1,084,872,235 | 195,659,868 | 2,622,463,653 | ||
Shares redeemed: | |||||
Class A | (2,189,888) | (29,759,857) | (4,154,339) | (49,589,042) | |
Class C | (581,947) | (7,862,520) | (891,846) | (10,473,615) | |
Class C – automatic conversion to Class A Shares | (3,090) | (45,421) | (55) | (621) | |
Class R3 | (167,678) | (2,313,307) | (438,326) | (5,398,966) | |
Class R6 | (19,910,614) | (289,797,468) | (17,527,429) | (219,987,010) | |
Class I | (7,295,078) | (102,166,421) | (16,207,142) | (197,801,746) | |
(30,148,295) | (431,944,994) | (39,219,137) | (483,251,000) | ||
Net increase (decrease) | 52,247,581 | $ 652,927,241 | 156,440,731 | $2,139,212,653 |
(1) | Refer to Note 9 - Fund Reorganization for further details. |
Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||||
Mid Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 83,530 | $ 3,896,847 | 146,750 | $ 5,376,357 | |
Class A – automatic conversion of Class C Shares | — | — | 130 | 5,313 | |
Class C | 16,873 | 750,776 | 17,918 | 648,901 | |
Class R3 | 15,795 | 727,754 | 55,184 | 1,897,528 | |
Class R6 | 67,000 | 3,230,472 | 87,664 | 3,120,999 | |
Class I | 697,396 | 32,206,021 | 2,093,498 | 74,393,486 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 11,427 | 487,609 | 11,554 | 493,467 | |
Class C | 548 | 22,041 | 377 | 15,175 | |
Class R3 | 2,765 | 116,499 | 1,602 | 67,895 | |
Class R6 | 6,084 | 260,623 | 5,674 | 243,148 | |
Class I | 67,472 | 2,885,751 | 62,189 | 2,661,684 | |
968,890 | 44,584,393 | 2,482,540 | 88,923,953 | ||
Shares redeemed: | |||||
Class A | (82,881) | (3,727,696) | (379,482) | (14,530,701) | |
Class C | (32,977) | (1,465,263) | (80,545) | (2,751,246) | |
Class C – automatic conversion to Class A Shares | — | — | (139) | (5,313) | |
Class R3 | (44,283) | (1,972,811) | (82,086) | (3,142,404) | |
Class R6 | (71,455) | (3,261,341) | (109,033) | (4,010,075) | |
Class I | (1,014,582) | (47,214,310) | (2,399,536) | (89,277,206) | |
(1,246,178) | (57,641,421) | (3,050,821) | (113,716,945) | ||
Net increase (decrease) | (277,288) | $(13,057,028) | (568,281) | $ (24,792,992) |
Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||||
Small Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 663,709 | $ 15,226,279 | 1,679,381 | $ 28,735,864 | |
Class A – automatic conversion of Class C Shares | — | — | 24 | 484 | |
Class C | 42,960 | 836,430 | 167,965 | 2,606,380 | |
Class R3 | 136,599 | 3,113,596 | 342,986 | 5,708,212 | |
Class R6 | 4,570,210 | 104,641,018 | 3,521,336 | 68,210,371 | |
Class I | 3,648,584 | 86,209,588 | 14,031,385 | 256,068,614 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 14,565 | 314,161 | 66,708 | 1,512,264 | |
Class C | — | — | 3,856 | 73,760 | |
Class R3 | 1,115 | 23,543 | 10,488 | 232,719 | |
Class R6 | 45,797 | 1,026,309 | 55,326 | 1,301,811 | |
Class I | 89,547 | 1,998,711 | 471,163 | 11,048,770 | |
9,213,086 | 213,389,635 | 20,350,618 | 375,499,249 | ||
Shares redeemed: | |||||
Class A | (1,801,844) | (41,972,586) | (5,288,285) | (100,564,645) | |
Class C | (262,678) | (5,130,783) | (1,103,974) | (16,744,890) | |
Class C – automatic conversion to Class A Shares | — | — | (28) | (484) | |
Class R3 | (350,630) | (7,993,353) | (1,102,459) | (19,738,716) | |
Class R6 | (2,472,057) | (59,723,791) | (4,596,946) | (84,950,504) | |
Class I | (12,253,384) | (289,531,981) | (42,404,624) | (774,918,404) | |
(17,140,593) | (404,352,494) | (54,496,316) | (996,917,643) | ||
Net increase (decrease) | (7,927,507) | $(190,962,859) | (34,145,698) | $(621,418,394) |
Dividend Value | Mid Cap Value | Small Cap Value | |
Tax cost of investments | $3,580,367,240 | $270,527,619 | $600,566,540 |
Gross unrealized: | |||
Appreciation | $ 868,110,491 | $128,398,562 | $276,488,673 |
Depreciation | (48,794,939) | (2,871,410) | (20,135,049) |
Net unrealized appreciation (depreciation) of investments | $ 819,315,552 | $125,527,152 | $256,353,624 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Undistributed net ordinary income1 | $ — | $3,615,403 | $510,721 |
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. |
Dividend Value | Mid Cap Value | Small Cap Value | |
Distributions from net ordinary income1 | $ 46,647,165 | $3,801,189 | $17,545,179 |
Distributions from net long-term capital gains | 117,154,455 | — | — |
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 | |
Not subject to expiration: | |||
Short-term | $225,916,433 | $13,443,582 | $121,426,773 |
Long-term | — | 6,470,679 | 314,924,262 |
Total | $225,916,433 | $19,914,261 | $436,351,035 |
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 | 0.1654% |
Mid Cap Value | 0.1887% |
Small Cap Value | 0.1593% |
Fund | Expense Cap | Expense Cap Expiration Date |
Dividend Value | 0.740%* | July 31, 2022 |
Mid Cap Value | 0.920 | July 31, 2022 |
Small Cap Value | 0.990 | July 31, 2022 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Sales charges collected | $45,484 | $12,705 | $39,643 |
Paid to financial intermediaries | 40,777 | 11,314 | 34,862 |
Dividend Value | Mid Cap Value | Small Cap Value | |
Commission advances | $11,591 | $7,297 | $7,075 |
Dividend Value | Mid Cap Value | Small Cap Value | |
12b-1 fees retained | $7,839 | $2,113 | $7,207 |
Dividend Value | Mid Cap Value | Small Cap Value | |
CDSC retained | $752 | $5,283 | $469 |
Nuveen Large Cap Value Fund | |
Cost of Investments | $225,328,370 |
Fair value of Investments | 238,180,910 |
Net unrealized appreciation (depreciation) of Investments | 12,852,540 |
Target Fund - Prior to the Reorganization | Shares Outstanding | Net Assets | NAV per Share |
Nuveen Large Cap Value Fund | |||
Class A | 8,548,709 | $187,318,786 | $21.91 |
Class C | 389,824 | 8,132,038 | 20.86 |
Class R3 | 3,848 | 85,328 | 22.17 |
Class R6 | 8,834 | 194,379 | 22.00 |
Class I | 1,946,067 | 42,798,951 | 21.99 |
Acquiring Fund - Prior to the Reorganization | Shares Outstanding | Net Assets | NAV per Share |
Nuveen Dividend Value Fund | |||
Class A | 13,600,796 | $ 180,086,396 | $13.24 |
Class C | 1,017,504 | 13,195,877 | 12.97 |
Class R3 | 1,465,499 | 19,309,213 | 13.18 |
Class R6 | 208,791,884 | 2,830,532,308 | 13.56 |
Class I | 34,338,309 | 461,295,994 | 13.43 |
Acquiring Fund - After the Reorganization | Shares Outstanding | Net Assets | NAV per Share |
Nuveen Dividend Value Fund | |||
Class A | 27,747,754 | $ 367,405,182 | $13.24 |
Class C | 1,644,546 | 21,327,915 | 12.97 |
Class R3 | 1,471,975 | 19,394,541 | 13.18 |
Class R6 | 208,806,222 | 2,830,726,687 | 13.56 |
Class I | 37,524,195 | 504,094,945 | 13.43 |
Acquiring Fund - Pro Forma Results from Operations | Nuveen Dividend Value Fund |
Net investment income (loss) | $ 34,212,269 |
Net realized and unrealized gains (losses) | 1,083,079,587 |
Change in net assets resuliting from operations | 1,117,291,856 |
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185519imgb238bbd11.gif)
Serving Investors for Generations
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185222imga763dcac1.gif)
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 |
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185222imga763dcac1.gif)
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185222img4753784c2.jpg)
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185222img02dd611e3.jpg)
Total Returns as of April 30, 2021* | |||||||||
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 | 26.44% | 59.34% | 19.52% | 12.72% | 1.24% | 1.17% | ||
Class A Shares at maximum Offering Price | 1/09/95 | 19.17% | 50.17% | 18.11% | 12.06% | — | — | ||
Russell Midcap® Growth Index | — | 24.84% | 53.97% | 19.70% | 14.33% | — | — | ||
Lipper Mid-Cap Growth Funds Classification Average | — | 28.24% | 61.51% | 20.83% | 14.02% | — | — | ||
Class C Shares | 9/24/01 | 26.01% | 58.10% | 18.62% | 12.05% | 1.99% | 1.92% | ||
Class R3 Shares | 12/11/00 | 26.27% | 58.90% | 19.22% | 12.44% | 1.49% | 1.42% | ||
Class I Shares | 12/28/89 | 26.60% | 59.72% | 19.82% | 13.00% | 0.99% | 0.92% |
Total Returns as of April 30, 2021* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 2/28/13 | 26.64% | 59.85% | 19.97% | 15.72% | 0.88% | 0.81% |
Total Returns as of April 30, 2021* | |||||||||
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 | 37.56% | 77.80% | 22.46% | 13.75% | 1.43% | 1.23% | ||
Class A Shares at maximum Offering Price | 8/01/95 | 29.65% | 67.59% | 21.01% | 13.08% | ||||
Russell 2000® Growth Index | — | 37.84% | 69.15% | 18.89% | 12.86% | — | — | ||
Lipper Small-Cap Growth Funds Classification Average | — | 38.00% | 73.72% | 20.68% | 13.25% | — | — | ||
Class C Shares | 9/24/01 | 37.07% | 76.46% | 21.55% | 13.07% | 2.18% | 1.98% | ||
Class R3 Shares | 12/11/00 | 37.42% | 77.34% | 22.16% | 13.46% | 1.68% | 1.48% | ||
Class I Shares | 8/01/95 | 37.74% | 78.23% | 22.76% | 14.03% | 1.18% | 0.98% |
Total Returns as of April 30, 2021 | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/30/16 | 37.84% | 78.60% | 23.45% | 0.99% | 0.79% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.8% |
Investments Purchased with Collateral from Securities Lending | 1.1% |
Repurchase Agreements | 1.8% |
Other Assets Less Liabilities | (1.7)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Software | 18.0% |
Biotechnology | 7.6% |
Health Care Equipment & Supplies | 6.5% |
IT Services | 6.3% |
Semiconductors & Semiconductor Equipment | 6.2% |
Hotels, Restaurants & Leisure | 4.6% |
Health Care Providers & Services | 4.4% |
Textiles, Apparel & Luxury Goods | 4.0% |
Interactive Media & Services | 3.3% |
Road & Rail | 3.0% |
Electronic Equipment, Instruments & Components | 2.8% |
Consumer Finance | 2.7% |
Entertainment | 2.7% |
Machinery | 2.7% |
Chemicals | 2.4% |
Capital Markets | 2.3% |
Other 1 | 19.3% |
Investments Purchased with Collateral from Securities Lending | 1.1% |
Repurchase Agreements | 1.8% |
Other Assets Less Liabilities | (1.7)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Synopsys Inc | 3.0% |
Horizon Therapeutics Plc | 2.7% |
Match Group Inc | 2.5% |
Align Technology Inc | 2.4% |
MSCI Inc | 2.3% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 98.4% |
Investments Purchased with Collateral from Securities Lending | 0.9% |
Repurchase Agreements | 2.2% |
Other Assets Less Liabilities | (1.5)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Health Care Equipment & Supplies | 8.8% |
Biotechnology | 8.6% |
Software | 8.4% |
Health Care Providers & Services | 6.7% |
Hotels, Restaurants & Leisure | 6.5% |
Semiconductors & Semiconductor Equipment | 5.6% |
Textiles, Apparel & Luxury Goods | 4.6% |
Machinery | 4.1% |
IT Services | 3.2% |
Chemicals | 2.7% |
Equity Real Estate Investment Trust | 2.4% |
Banks | 2.4% |
Electrical Equipment | 2.0% |
Food Products | 1.8% |
Road & Rail | 1.6% |
Electronic Equipment, Instruments & Components | 1.6% |
Building Products | 1.5% |
Household Durables | 1.5% |
Health Care Technology | 1.5% |
Paper & Forest Products | 1.4% |
Trading Companies & Distributors | 1.4% |
Air Freight & Logistics | 1.4% |
Other 1 | 18.7% |
Investments Purchased with Collateral from Securities Lending | 0.9% |
Repurchase Agreements | 2.2% |
Other Assets Less Liabilities | (1.5)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
MAXIMUS Inc | 2.0% |
Crocs Inc | 1.9% |
Freshpet Inc | 1.9% |
Saia Inc | 1.6% |
Blackline Inc | 1.6% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
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 | $1,264.39 | $1,260.09 | $1,262.65 | $1,266.45 | $1,265.97 |
Expenses Incurred During the Period | $ 6.57 | $ 10.76 | $ 7.97 | $ 4.78 | $ 5.17 |
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 | $1,018.99 | $1,015.27 | $1,017.75 | $1,020.58 | $1,020.23 |
Expenses Incurred During the Period | $ 5.86 | $ 9.59 | $ 7.10 | $ 4.26 | $ 4.61 |
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 | $1,375.62 | $1,370.67 | $1,374.18 | $1,378.36 | $1,377.44 |
Expenses Incurred During the Period | $ 7.13 | $ 11.58 | $ 8.59 | $ 4.84 | $ 5.66 |
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 | $1,018.79 | $1,015.03 | $1,017.55 | $1,020.73 | $1,020.03 |
Expenses Incurred During the Period | $ 6.06 | $ 9.84 | $ 7.30 | $ 4.11 | $ 4.81 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.8% | ||||||
COMMON STOCKS – 98.8% | ||||||
Aerospace & Defense – 1.4% | ||||||
51,713 | HEICO Corp., Class A | $ 6,530,318 | ||||
Auto Components – 1.2% | ||||||
38,443 | Aptiv PLC, (2) | 5,531,563 | ||||
Banks – 1.2% | ||||||
21,835 | Signature Bank/New York NY | 5,491,721 | ||||
Biotechnology – 7.6% | ||||||
79,436 | BioMarin Pharmaceutical Inc, (2) | 6,189,653 | ||||
78,221 | ChemoCentryx Inc, (2) | 3,780,421 | ||||
39,082 | Exact Sciences Corp, (2) | 5,151,789 | ||||
131,004 | Horizon Therapeutics Plc, (2) | 12,395,598 | ||||
39,281 | Seagen Inc, (2) | 5,647,037 | ||||
11,300 | United Therapeutics Corp, (2) | 2,277,628 | ||||
Total Biotechnology | 35,442,126 | |||||
Building Products – 1.5% | ||||||
64,845 | Trex Co Inc, (2) | 7,002,612 | ||||
Capital Markets – 2.3% | ||||||
22,249 | MSCI Inc | 10,807,897 | ||||
Chemicals – 2.4% | ||||||
189,963 | Axalta Coating Systems Ltd, (2) | 6,057,920 | ||||
100,117 | CF Industries Holdings Inc | 4,868,690 | ||||
Total Chemicals | 10,926,610 | |||||
Commercial Services & Supplies – 1.1% | ||||||
44,369 | Waste Connections Inc | 5,284,792 | ||||
Consumer Finance – 2.7% | ||||||
109,282 | OneMain Holdings Inc | 6,214,867 | ||||
142,960 | Synchrony Financial | 6,253,071 | ||||
Total Consumer Finance | 12,467,938 | |||||
Containers & Packaging – 1.1% | ||||||
76,994 | Berry Global Group Inc, (2) | 4,898,358 | ||||
Diversified Consumer Services – 1.0% | ||||||
116,757 | 2U Inc, (2) | 4,582,712 |
Shares | Description (1) | Value | ||||
Electrical Equipment – 2.1% | ||||||
29,322 | Generac Holdings Inc, (2) | $ 9,498,862 | ||||
Electronic Equipment, Instruments & Components – 2.8% | ||||||
80,368 | Cognex Corp | 6,921,292 | ||||
43,014 | Keysight Technologies Inc, (2) | 6,209,071 | ||||
Total Electronic Equipment, Instruments & Components | 13,130,363 | |||||
Entertainment – 2.7% | ||||||
23,201 | Roku Inc, (2) | 7,957,247 | ||||
25,500 | Take-Two Interactive Software Inc, (2) | 4,472,190 | ||||
Total Entertainment | 12,429,437 | |||||
Food Products – 1.7% | ||||||
42,764 | Freshpet Inc, (2) | 7,903,642 | ||||
Health Care Equipment & Supplies – 6.5% | ||||||
18,729 | Align Technology Inc, (2) | 11,153,682 | ||||
9,562 | Dexcom Inc, (2) | 3,691,888 | ||||
27,474 | Insulet Corp, (2) | 8,110,874 | ||||
16,532 | Teleflex Inc | 6,984,439 | ||||
Total Health Care Equipment & Supplies | 29,940,883 | |||||
Health Care Providers & Services – 4.4% | ||||||
17,698 | Amedisys Inc, (2) | 4,775,805 | ||||
76,823 | Centene Corp, (2) | 4,743,052 | ||||
20,026 | Molina Healthcare Inc, (2) | 5,108,633 | ||||
66,000 | Oak Street Health Inc, (2) | 4,067,580 | ||||
51,969 | Privia Health Group Inc, (2) | 1,887,514 | ||||
Total Health Care Providers & Services | 20,582,584 | |||||
Health Care Technology – 0.9% | ||||||
24,272 | Teladoc Health Inc, (2) | 4,183,279 | ||||
Hotels, Restaurants & Leisure – 4.6% | ||||||
7,084 | Chipotle Mexican Grill Inc, (2) | 10,569,540 | ||||
35,180 | Darden Restaurants Inc | 5,161,610 | ||||
30,758 | Expedia Group Inc, (2) | 5,420,482 | ||||
Total Hotels, Restaurants & Leisure | 21,151,632 | |||||
Household Products – 1.3% | ||||||
68,367 | Church & Dwight Co Inc | 5,861,787 | ||||
Interactive Media & Services – 3.3% | ||||||
150,476 | Eventbrite Inc, (2) | 3,546,719 | ||||
74,297 | Match Group Inc, (2) | 11,562,842 | ||||
Total Interactive Media & Services | 15,109,561 |
Shares | Description (1) | Value | ||||
Internet & Direct Marketing Retail – 1.0% | ||||||
59,989 | Chewy Inc, (2), (3) | $ 4,782,323 | ||||
IT Services – 6.3% | ||||||
50,017 | Akamai Technologies Inc, (2) | 5,436,848 | ||||
28,570 | FleetCor Technologies Inc, (2) | 8,220,160 | ||||
64,535 | MAXIMUS Inc | 5,913,987 | ||||
44,636 | VeriSign Inc, (2) | 9,765,018 | ||||
Total IT Services | 29,336,013 | |||||
Life Sciences Tools & Services – 1.7% | ||||||
34,442 | IQVIA Holdings Inc, (2) | 8,083,193 | ||||
Machinery – 2.7% | ||||||
159,761 | Colfax Corp, (2) | 7,219,600 | ||||
82,321 | Donaldson Co Inc | 5,176,344 | ||||
Total Machinery | 12,395,944 | |||||
Road & Rail – 3.0% | ||||||
45,511 | JB Hunt Transport Services Inc | 7,769,183 | ||||
26,144 | Saia Inc, (2) | 6,130,768 | ||||
Total Road & Rail | 13,899,951 | |||||
Semiconductors & Semiconductor Equipment – 6.2% | ||||||
49,000 | Advanced Energy Industries Inc | 5,405,190 | ||||
59,552 | Microchip Technology Inc | 8,950,070 | ||||
43,614 | MKS Instruments Inc | 7,811,704 | ||||
18,758 | Monolithic Power Systems Inc | 6,778,766 | ||||
Total Semiconductors & Semiconductor Equipment | 28,945,730 | |||||
Software – 18.0% | ||||||
115,763 | Anaplan Inc, (2) | 6,905,263 | ||||
33,528 | Avalara Inc, (2) | 4,751,253 | ||||
24,553 | Crowdstrike Holdings Inc, (2) | 5,119,546 | ||||
28,361 | CyberArk Software Ltd, (2) | 3,984,721 | ||||
42,371 | DocuSign Inc, (2) | 9,446,191 | ||||
19,161 | HubSpot Inc, (2) | 10,087,308 | ||||
70,009 | LivePerson Inc, (2) | 3,825,992 | ||||
62,155 | nCino Inc, (2) | 4,064,315 | ||||
13,397 | Paycom Software Inc, (2) | 5,149,941 | ||||
13,540 | Proofpoint Inc, (2) | 2,330,369 | ||||
23,638 | RingCentral Inc, (2) | 7,539,340 | ||||
50,198 | Splunk Inc, (2) | 6,346,031 | ||||
56,010 | Synopsys Inc, (2) | 13,837,831 | ||||
Total Software | 83,388,101 |
Shares | Description (1) | Value | ||||
Specialty Retail – 2.1% | ||||||
29,810 | Ulta Beauty Inc, (2) | $ 9,817,924 | ||||
Textiles, Apparel & Luxury Goods – 4.0% | ||||||
120,583 | Levi Strauss & Co., Class A | 3,480,025 | ||||
30,902 | Lululemon Athletica Inc, (2) | 10,360,514 | ||||
240,363 | Under Armour Inc., Class C, (2) | 4,785,627 | ||||
Total Textiles, Apparel & Luxury Goods | 18,626,166 | |||||
Total Long-Term Investments (cost $333,085,341) | 458,034,022 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 1.1% | ||||||
MONEY MARKET FUNDS – 1.1% | ||||||
4,944,189 | State Street Navigator Securities Lending Government Money Market Portfolio, (4) | 0.020% (5) | $ 4,944,189 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $4,944,189) | 4,944,189 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.8% | ||||||
REPURCHASE AGREEMENTS – 1.8% | ||||||
$ 8,185 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $8,185,366, collateralized by $8,750,400, U.S. Treasury Notes, 0.500%, due 10/31/27, value $8,349,115 | 0.000% | 5/03/21 | $ 8,185,366 | ||
Total Short-Term Investments (cost $8,185,366) | 8,185,366 | |||||
Total Investments (cost $346,214,896) – 101.7% | 471,163,577 | |||||
Other Assets Less Liabilities – (1.7)% | (7,783,856) | |||||
Net Assets – 100% | $ 463,379,721 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(3) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $4,734,491. | |
(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 one-day yield as of the end of the reporting period. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.4% | ||||||
COMMON STOCKS – 98.4% | ||||||
Aerospace & Defense – 1.1% | ||||||
121,775 | Kratos Defense & Security Solutions Inc, (2) | $ 3,256,264 | ||||
Air Freight & Logistics – 1.4% | ||||||
60,982 | Hub Group Inc, Class A, (2) | 4,007,737 | ||||
Auto Components – 1.1% | ||||||
37,004 | Patrick Industries Inc | 3,315,558 | ||||
Banks – 2.4% | ||||||
64,212 | Ameris Bancorp | 3,473,227 | ||||
51,958 | Preferred Bank/Los Angeles CA | 3,405,327 | ||||
Total Banks | 6,878,554 | |||||
Beverages – 1.0% | ||||||
46,871 | MGP Ingredients Inc | 2,816,947 | ||||
Biotechnology – 8.6% | ||||||
159,747 | Affimed NV, (2) | 1,707,695 | ||||
20,212 | Arena Pharmaceuticals Inc, (2) | 1,387,150 | ||||
22,516 | Blueprint Medicines Corp, (2) | 2,168,741 | ||||
34,896 | Bridgebio Pharma Inc, (2) | 1,951,384 | ||||
39,776 | ChemoCentryx Inc, (2) | 1,922,374 | ||||
28,163 | Emergent BioSolutions Inc, (2) | 1,717,380 | ||||
20,956 | Fate Therapeutics Inc, (2) | 1,831,345 | ||||
36,696 | Halozyme Therapeutics Inc, (2) | 1,832,965 | ||||
26,368 | Horizon Therapeutics Plc, (2) | 2,494,940 | ||||
24,380 | Intellia Therapeutics Inc, (2) | 1,871,653 | ||||
31,827 | Natera Inc, (2) | 3,501,606 | ||||
6,487 | Novavax Inc, (2) | 1,536,965 | ||||
31,036 | REVOLUTION Medicines Inc, (2) | 1,030,085 | ||||
Total Biotechnology | 24,954,283 | |||||
Building Products – 1.5% | ||||||
91,442 | AZEK Co Inc, (2) | 4,414,820 | ||||
Capital Markets – 1.0% | ||||||
21,937 | Evercore Inc, Class A | 3,074,032 | ||||
Chemicals – 2.7% | ||||||
63,089 | Avient Corp | 3,203,029 |
Shares | Description (1) | Value | ||||
Chemicals (continued) | ||||||
58,428 | Ingevity Corporation, (2) | $ 4,562,058 | ||||
Total Chemicals | 7,765,087 | |||||
Commercial Services & Supplies – 1.1% | ||||||
25,629 | Tetra Tech Inc | 3,271,029 | ||||
Construction Materials – 1.0% | ||||||
97,519 | Summit Materials Inc, Class A, (2) | 2,807,572 | ||||
Diversified Consumer Services – 1.2% | ||||||
92,953 | 2U Inc, (2) | 3,648,405 | ||||
Diversified Telecommunication Services – 1.2% | ||||||
25,715 | Bandwidth Inc, Class A, (2) | 3,399,523 | ||||
Electrical Equipment – 2.0% | ||||||
32,163 | EnerSys | 2,945,488 | ||||
59,937 | Sunrun Inc, (2) | 2,936,913 | ||||
Total Electrical Equipment | 5,882,401 | |||||
Electronic Equipment, Instruments & Components – 1.6% | ||||||
69,432 | II-VI Inc, (2) | 4,661,665 | ||||
Equity Real Estate Investment Trust – 2.4% | ||||||
56,511 | QTS Realty Trust Inc., Class A | 3,757,416 | ||||
308,375 | Summit Hotel Properties Inc, (2) | 3,136,174 | ||||
Total Equity Real Estate Investment Trust | 6,893,590 | |||||
Food & Staples Retailing – 0.7% | ||||||
34,600 | Performance Food Group Co, (2) | 2,031,020 | ||||
Food Products – 1.8% | ||||||
29,166 | Freshpet Inc, (2) | 5,390,460 | ||||
Health Care Equipment & Supplies – 8.8% | ||||||
56,743 | AtriCure Inc, (2) | 4,373,183 | ||||
88,932 | BioLife Solutions Inc, (2) | 3,103,727 | ||||
56,912 | Establishment Labs Holdings Inc, (2) | 4,134,087 | ||||
21,517 | Nevro Corp, (2) | 3,718,353 | ||||
282,751 | SmileDirectClub Inc, (2), (3) | 3,007,057 | ||||
72,207 | Tactile Systems Technology Inc, (2) | 4,137,461 | ||||
33,552 | Tandem Diabetes Care Inc, (2) | 3,083,429 | ||||
Total Health Care Equipment & Supplies | 25,557,297 | |||||
Health Care Providers & Services – 6.7% | ||||||
75,318 | 1Life Healthcare Inc, (2) | 3,277,086 | ||||
68,264 | Acadia Healthcare Co Inc, (2) | 4,158,643 | ||||
34,276 | Addus HomeCare Corp, (2) | 3,626,401 |
Shares | Description (1) | Value | ||||
Health Care Providers & Services (continued) | ||||||
38,043 | AMN Healthcare Services Inc, (2) | $3,016,810 | ||||
49,312 | Ensign Group Inc | 4,233,435 | ||||
32,570 | Privia Health Group Inc, (2) | 1,182,942 | ||||
Total Health Care Providers & Services | 19,495,317 | |||||
Health Care Technology – 1.5% | ||||||
18,293 | Inspire Medical Systems Inc, (2) | 4,332,148 | ||||
Hotels, Restaurants & Leisure – 6.5% | ||||||
47,202 | BJ's Restaurants Inc, (2) | 2,878,850 | ||||
46,095 | Boyd Gaming Corp, (2) | 3,049,184 | ||||
166,023 | Everi Holdings Inc, (2) | 2,935,287 | ||||
26,331 | Jack in the Box Inc | 3,176,835 | ||||
41,412 | Papa John's International Inc | 4,005,369 | ||||
33,595 | Planet Fitness Inc., Class A, (2) | 2,821,644 | ||||
Total Hotels, Restaurants & Leisure | 18,867,169 | |||||
Household Durables – 1.5% | ||||||
19,808 | TopBuild Corp, (2) | 4,404,903 | ||||
Insurance – 1.2% | ||||||
19,482 | Kinsale Capital Group Inc | 3,390,063 | ||||
Interactive Media & Services – 1.2% | ||||||
145,274 | Eventbrite Inc, (2) | 3,424,108 | ||||
IT Services – 3.2% | ||||||
5,149 | LiveRamp Holdings Inc, (2) | 252,198 | ||||
63,367 | MAXIMUS Inc | 5,806,952 | ||||
234,560 | Verra Mobility Corp, (2) | 3,152,486 | ||||
Total IT Services | 9,211,636 | |||||
Life Sciences Tools & Services – 1.4% | ||||||
80,796 | NeoGenomics Inc, (2) | 3,958,196 | ||||
Machinery – 4.1% | ||||||
35,471 | ESCO Technologies Inc | 3,857,826 | ||||
30,460 | John Bean Technologies Corp | 4,428,275 | ||||
60,945 | SPX Corp, (2) | 3,696,923 | ||||
Total Machinery | 11,983,024 | |||||
Media – 0.9% | ||||||
65,321 | Magnite Inc, (2) | 2,616,106 | ||||
Paper & Forest Products – 1.4% | ||||||
64,490 | Louisiana-Pacific Corp | 4,248,601 |
Shares | Description (1) | Value | ||||
Personal Products – 1.0% | ||||||
100,562 | elf Beauty Inc, (2) | $ 3,042,001 | ||||
Pharmaceuticals – 1.3% | ||||||
58,704 | Pacira BioSciences Inc, (2) | 3,708,919 | ||||
Professional Services – 1.2% | ||||||
37,149 | ICF International Inc | 3,382,788 | ||||
Road & Rail – 1.6% | ||||||
20,149 | Saia Inc, (2) | 4,724,941 | ||||
Semiconductors & Semiconductor Equipment – 5.6% | ||||||
39,407 | Advanced Energy Industries Inc | 4,346,986 | ||||
74,531 | Lattice Semiconductor Corp, (2) | 3,749,655 | ||||
76,753 | MACOM Technology Solutions Holdings Inc, (2) | 4,344,987 | ||||
27,699 | Silicon Laboratories Inc, (2) | 3,904,174 | ||||
Total Semiconductors & Semiconductor Equipment | 16,345,802 | |||||
Software – 8.4% | ||||||
91,832 | Asana Inc, Class A, (2) | 3,059,842 | ||||
40,652 | Blackline Inc, (2) | 4,718,071 | ||||
26,138 | CommVault Systems Inc, (2) | 1,816,852 | ||||
38,584 | Envestnet Inc, (2) | 2,848,657 | ||||
84,861 | Jamf Holding Corp, (2) | 3,099,124 | ||||
64,699 | LivePerson Inc, (2) | 3,535,800 | ||||
30,288 | Q2 Holdings Inc, (2) | 3,150,558 | ||||
26,056 | Rapid7 Inc, (2) | 2,117,050 | ||||
591,081 | Videopropulsion Inc, (2), (4) | 591 | ||||
Total Software | 24,346,545 | |||||
Specialty Retail – 1.1% | ||||||
87,282 | Urban Outfitters Inc, (2) | 3,133,424 | ||||
Textiles, Apparel & Luxury Goods – 4.6% | ||||||
55,352 | Crocs Inc, (2) | 5,541,842 | ||||
11,744 | Deckers Outdoor Corp, (2) | 3,971,821 | ||||
97,926 | Steven Madden Ltd | 3,982,651 | ||||
Total Textiles, Apparel & Luxury Goods | 13,496,314 | |||||
Trading Companies & Distributors – 1.4% | ||||||
42,934 | Applied Industrial Technologies Inc | 4,107,066 | ||||
Total Long-Term Investments (cost $209,549,176) | 286,245,315 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.9% | ||||||
MONEY MARKET FUNDS – 0.9% | ||||||
2,587,599 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.020% (6) | $ 2,587,599 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $2,587,599) | 2,587,599 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 2.2% | ||||||
REPURCHASE AGREEMENTS – 2.2% | ||||||
$ 6,542 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $6,541,533, collateralized by $6,993,100, U.S. Treasury Notes, 0.500%, due 10/31/27, value $6,672,403 | 0.000% | 5/03/21 | $ 6,541,533 | ||
Total Short-Term Investments (cost $6,541,533) | 6,541,533 | |||||
Total Investments (cost $218,678,308) – 101.5% | 295,374,447 | |||||
Other Assets Less Liabilities – (1.5)% | (4,497,682) | |||||
Net Assets – 100% | $ 290,876,765 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(3) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $2,392,886. | |
(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) | 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. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Assets | ||
Long-term investments, at value (cost $333,085,341 and $209,549,176, respectively)(1) | $458,034,022 | $286,245,315 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | 4,944,189 | 2,587,599 |
Short-term investments, at value (cost approximates value) | 8,185,366 | 6,541,533 |
Receivable for: | ||
Dividends | 80,474 | — |
Due from affiliate | 11,831 | 16,636 |
Investments sold | — | 2,387,044 |
Shares sold | 168,890 | 679,471 |
Other assets | 115,320 | 39,544 |
Total assets | 471,540,092 | 298,497,142 |
Liabilities | ||
Payable for: | ||
Collateral from securities lending program | 4,944,189 | 2,587,599 |
Investments purchased - regular settlement | 2,101,527 | 4,464,682 |
Shares redeemed | 367,420 | 77,086 |
Accrued expenses: | ||
Directors fees | 81,885 | 3,550 |
Management fees | 265,071 | 184,727 |
12b-1 distribution and service fees | 57,508 | 14,676 |
Other | 342,771 | 288,057 |
Total liabilities | 8,160,371 | 7,620,377 |
Net assets | $463,379,721 | $290,876,765 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Class A Shares | ||
Net assets | $224,078,594 | $ 58,497,598 |
Shares outstanding | 5,905,253 | 1,755,040 |
Net asset value ("NAV") per share | $ 37.95 | $ 33.33 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 40.27 | $ 35.36 |
Class C Shares | ||
Net assets | $ 4,740,328 | $ 2,320,210 |
Shares outstanding | 247,799 | 103,685 |
NAV and offering price per share | $ 19.13 | $ 22.38 |
Class R3 Shares | ||
Net assets | $ 19,531,736 | $ 2,332,466 |
Shares outstanding | 596,902 | 76,425 |
NAV and offering price per share | $ 32.72 | $ 30.52 |
Class R6 Shares | ||
Net assets | $ 35,398,296 | $ 455,318 |
Shares outstanding | 661,772 | 10,848 |
NAV and offering price per share | $ 53.49 | $ 41.97 |
Class I Shares | ||
Net assets | $179,630,767 | $227,271,173 |
Shares outstanding | 3,423,693 | 5,465,061 |
NAV and offering price per share | $ 52.47 | $ 41.59 |
Fund level net assets consist of: | ||
Capital paid-in | $273,731,608 | $169,624,856 |
Total distributable earnings | 189,648,113 | 121,251,909 |
Fund level net assets | $463,379,721 | $290,876,765 |
Authorized shares - per class | 2 billion | 2 billion |
Par value per share | $ 0.0001 | $ 0.0001 |
(1) | Includes securities loaned of $4,734,491 and $2,392,886 for Mid Cap Growth Opportunities and Small Cap Growth Opportunities, respectively. |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Investment Income | ||
Dividends | $ 706,983 | $ 386,089 |
Securities lending income, net | 3,448 | 9,339 |
Payment from affiliate | 9,373 | 20,963 |
Total investment income | 719,804 | 416,391 |
Expenses | ||
Management fees | 1,771,766 | 1,082,279 |
12b-1 service fees - Class A Shares | 271,248 | 66,174 |
12b-1 distribution and service fees - Class C Shares | 27,538 | 12,163 |
12b-1 distribution and service fees - Class R3 Shares | 48,116 | 5,194 |
Shareholder servicing agent fees | 175,922 | 193,048 |
Interest expense | 1,231 | — |
Custodian fees | 25,069 | 18,372 |
Professional fees | 21,877 | 16,776 |
Directors fees | 5,811 | 3,431 |
Shareholder reporting expenses | 42,624 | 93,541 |
Federal and state registration fees | 42,261 | 38,593 |
Other | 7,620 | 3,310 |
Total expenses before fee waiver/expense reimbursement | 2,441,083 | 1,532,881 |
Fee waiver/expense reimbursement | (31,994) | (174,411) |
Net expenses | 2,409,089 | 1,358,470 |
Net investment income (loss) | (1,689,285) | (942,079) |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) from investments | 67,522,161 | 48,430,012 |
Change in net unrealized appreciation (depreciation) of investments | 35,805,723 | 32,580,439 |
Net realized and unrealized gain (loss) | 103,327,884 | 81,010,451 |
Net increase (decrease) in net assets from operations | $101,638,599 | $80,068,372 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | ||||
Unaudited Six Months Ended 4/30/21 | Year Ended 10/31/20 | Unaudited Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||
Operations | |||||
Net investment income (loss) | $ (1,689,285) | $ (690,632) | $ (942,079) | $ (1,190,179) | |
Net realized gain (loss) from investments | 67,522,161 | 57,097,989 | 48,430,012 | 26,616,300 | |
Change in net unrealized appreciation (depreciation) of investments | 35,805,723 | 34,975,007 | 32,580,439 | 25,815,014 | |
Net increase (decrease) in net assets from operations | 101,638,599 | 91,382,364 | 80,068,372 | 51,241,135 | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (27,006,259) | (36,832,892) | (5,791,593) | — | |
Class C Shares | (1,313,163) | (1,779,313) | (413,003) | — | |
Class R3 Shares | (2,853,671) | (5,055,764) | (241,104) | — | |
Class R6 Shares | (3,099,614) | (4,121,288) | (91,484) | — | |
Class I Shares | (16,584,219) | (25,757,305) | (19,572,399) | — | |
Decrease in net assets from distributions to shareholders | (50,856,926) | (73,546,562) | (26,109,583) | — | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 35,569,307 | 43,267,276 | 24,768,781 | 38,637,603 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 48,204,913 | 68,352,666 | 24,413,746 | — | |
83,774,220 | 111,619,942 | 49,182,527 | 38,637,603 | ||
Cost of shares redeemed | (58,185,805) | (135,150,062) | (27,555,497) | (84,106,692) | |
Net increase (decrease) in net assets from Fund share transactions | 25,588,415 | (23,530,120) | 21,627,030 | (45,469,089) | |
Net increase (decrease) in net assets | 76,370,088 | (5,694,318) | 75,585,819 | 5,772,046 | |
Net assets at the beginning of period | 387,009,633 | 392,703,951 | 215,290,946 | 209,518,900 | |
Net assets at the end of period | $463,379,721 | $ 387,009,633 | $290,876,765 | $215,290,946 |
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) | |||||||||
2021(f) | $34.24 | $(0.16) | $ 8.90 | $ 8.74 | $ — | $(5.03) | $(5.03) | $37.95 | |
2020 | 33.66 | (0.09) | 8.01 | 7.92 | — | (7.34) | (7.34) | 34.24 | |
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 | |
Class C (09/01) | |||||||||
2021(f) | 19.42 | (0.15) | 4.89 | 4.74 | — | (5.03) | (5.03) | 19.13 | |
2020 | 22.20 | (0.18) | 4.74 | 4.56 | — | (7.34) | (7.34) | 19.42 | |
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 | |
Class R3 (12/00) | |||||||||
2021(f) | 30.14 | (0.18) | 7.79 | 7.61 | — | (5.03) | (5.03) | 32.72 | |
2020 | 30.52 | (0.14) | 7.10 | 6.96 | — | (7.34) | (7.34) | 30.14 | |
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 | |
Class R6 (02/13) | |||||||||
2021(f) | 46.46 | (0.14) | 12.20 | 12.06 | — | (5.03) | (5.03) | 53.49 | |
2020 | 43.07 | 0.03 | 10.70 | 10.73 | — | (7.34) | (7.34) | 46.46 | |
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 | |
Class I (12/89) | |||||||||
2021(f) | 45.67 | (0.15) | 11.98 | 11.83 | — | (5.03) | (5.03) | 52.47 | |
2020 | 42.49 | (0.01) | 10.53 | 10.52 | — | (7.34) | (7.34) | 45.67 | |
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 |
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) | |
26.44% | $224,079 | 1.18%* | (0.87)%* | (0.87)%* | 1.17%* | (0.85)%* | (0.86)%* | 50% | |
28.09 | 185,219 | 1.24 | (0.36) | (0.37) | 1.17 | (0.29) | (0.30) | 89 | |
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 | |
26.01 | 4,740 | 1.93* | (1.58)* | (1.58)* | 1.92* | (1.56)* | (1.57)* | 50 | |
27.07 | 5,208 | 1.99 | (1.11) | (1.12) | 1.92 | (1.04) | (1.05) | 89 | |
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 | |
26.27 | 19,532 | 1.43* | (1.12)* | (1.12)* | 1.42* | (1.10)* | (1.11)* | 50 | |
27.77 | 16,742 | 1.49 | (0.59) | (0.60) | 1.42 | (0.52) | (0.53) | 89 | |
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 | |
26.64 | 35,398 | 0.86* | (0.54)* | (0.55)* | 0.85* | (0.53)* | (0.53)* | 50 | |
28.54 | 28,966 | 0.88 | (0.01) | (0.02) | 0.81 | 0.06 | 0.05 | 89 | |
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 | |
26.60 | 179,631 | 0.93* | (0.61)* | (0.62)* | 0.92* | (0.60)* | (0.60)* | 50 | |
28.38 | 150,875 | 0.99 | (0.10) | (0.11) | 0.92 | (0.03) | (0.04) | 89 | |
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 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the periods ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share class 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) | Unaudited. For the six months ended April 30, 2021. |
* | 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) | |||||||||
2021(f) | $27.35 | $(0.14) | $ 9.89 | $ 9.75 | $(0.01) | $(3.76) | $(3.77) | $33.33 | |
2020 | 20.96 | (0.18) | 6.57 | 6.39 | — | — | — | 27.35 | |
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 | |
Class C (09/01) | |||||||||
2021(f) | 19.44 | (0.17) | 6.87 | 6.70 | — | (3.76) | (3.76) | 22.38 | |
2020 | 15.01 | (0.25) | 4.68 | 4.43 | — | — | — | 19.44 | |
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 | |
Class R3 (12/00) | |||||||||
2021(f) | 25.32 | (0.17) | 9.13 | 8.96 | — | (3.76) | (3.76) | 30.52 | |
2020 | 19.45 | (0.22) | 6.09 | 5.87 | — | — | — | 25.32 | |
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 | |
Class R6 (06/16) | |||||||||
2021(f) | 33.69 | (0.07) | 12.27 | 12.20 | (0.16) | (3.76) | (3.92) | 41.97 | |
2020 | 25.69 | (0.07) | 8.07 | 8.00 | — | — | — | 33.69 | |
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(g) | 21.63 | (0.02) | 1.35 | 1.33 | — | — | — | 22.96 | |
Class I (08/95) | |||||||||
2021(f) | 33.38 | (0.13) | 12.19 | 12.06 | (0.09) | (3.76) | (3.85) | 41.59 | |
2020 | 25.51 | (0.14) | 8.01 | 7.87 | — | — | — | 33.38 | |
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 |
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) | |
37.56% | $ 58,498 | 1.35%* | (1.04)%* | (1.05)%* | 1.21%* | (0.90)%* | (0.92)%* | 63% | |
30.55 | 41,683 | 1.42 | (0.97) | (0.98) | 1.22 | (0.77) | (0.78) | 105 | |
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 | |
37.07 | 2,320 | 2.10* | (1.76)* | (1.77)* | 1.97* | (1.62)* | (1.64)* | 63 | |
29.51 | 2,158 | 2.17 | (1.72) | (1.73) | 1.97 | (1.52) | (1.53) | 105 | |
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 | |
37.42 | 2,332 | 1.60* | (1.30)* | (1.32)* | 1.46* | (1.17)* | (1.19)* | 63 | |
30.18 | 1,482 | 1.67 | (1.22) | (1.23) | 1.47 | (1.02) | (1.03) | 105 | |
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 | |
37.84 | 455 | 0.95* | (0.47)* | (0.49)* | 0.82* | (0.34)* | (0.36)* | 63 | |
31.14 | 1,038 | 0.98 | (0.46) | (0.47) | 0.78 | (0.26) | (0.27) | 105 | |
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 | |
37.74 | 227,271 | 1.10* | (0.78)* | (0.80)* | 0.96* | (0.65)* | (0.66)* | 63 | |
30.81 | 168,931 | 1.17 | (0.71) | (0.72) | 0.97 | (0.51) | (0.52) | 105 | |
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 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the periods ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund's Total Return for each share class 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) | Unaudited. For the six months ended April 30, 2021. |
(g) | For the period June 30, 2016 (commencement of operations) through October 31, 2016. |
* | 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 | $458,034,022 | $ — | $ — | $458,034,022 |
Investments Purchased with Collateral from Securities Lending | 4,944,189 | — | — | 4,944,189 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 8,185,366 | — | 8,185,366 |
Total | $462,978,211 | $8,185,366 | $ — | $471,163,577 |
Small Cap Growth Opportunities | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $286,244,724 | $ — | $ 591** | $286,245,315 |
Investments Purchased with Collateral from Securities Lending | 2,587,599 | — | — | 2,587,599 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 6,541,533 | — | 6,541,533 |
Total | $288,832,323 | $6,541,533 | $ 591 | $295,374,447 |
* | 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 | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty |
Mid Cap Growth Opportunities | Fixed Income Clearing Corporation | $8,185,366 | $(8,349,115) |
Small Cap Growth Opportunities | Fixed Income Clearing Corporation | 6,541,533 | (6,672,403) |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Total Collateral Received |
Mid Cap Growth Opportunities | Common Stocks | $4,734,491 | $4,944,189 |
Small Cap Growth Opportunities | Common Stocks | $2,392,886 | $2,587,599 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Purchases | $218,237,901 | $161,635,456 |
Sales | 245,996,163 | 168,240,688 |
Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||||
Mid Cap Growth Opportunities | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 216,000 | $ 8,028,357 | 341,601 | $ 10,282,625 | |
Class A – automatic conversion of Class C Shares | 4,383 | 161,964 | 1,918 | 60,102 | |
Class C | 22,021 | 415,309 | 58,594 | 1,001,719 | |
Class R3 | 79,975 | 2,587,049 | 116,835 | 2,963,548 | |
Class R6 | 46,556 | 2,445,780 | 69,071 | 2,828,971 | |
Class I | 427,023 | 21,930,848 | 651,522 | 26,130,311 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 743,887 | 26,593,929 | 1,279,599 | 36,289,441 | |
Class C | 71,611 | 1,294,017 | 105,468 | 1,707,528 | |
Class R3 | 92,472 | 2,853,671 | 202,069 | 5,055,764 | |
Class R6 | 61,586 | 3,099,614 | 107,409 | 4,121,288 | |
Class I | 290,821 | 14,363,682 | 561,024 | 21,178,645 | |
2,056,335 | 83,774,220 | 3,495,110 | 111,619,942 | ||
Shares redeemed: | |||||
Class A | (468,811) | (17,559,126) | (1,351,084) | (40,700,970) | |
Class C | (105,386) | (1,968,794) | (147,659) | (2,739,777) | |
Class C – automatic conversion to Class A Shares | (8,666) | (161,964) | (3,328) | (60,102) | |
Class R3 | (131,045) | (4,230,178) | (488,749) | (13,053,741) | |
Class R6 | (69,765) | (3,681,057) | (164,437) | (7,045,615) | |
Class I | (597,659) | (30,584,686) | (1,807,743) | (71,549,857) | |
(1,381,332) | (58,185,805) | (3,963,000) | (135,150,062) | ||
Net increase (decrease) | 675,003 | $ 25,588,415 | (467,890) | $ (23,530,120) |
Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||||
Small Cap Growth Opportunities | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 145,803 | $ 4,646,057 | 97,178 | $ 2,190,342 | |
Class A – automatic conversion of Class C Shares | 13 | 421 | 76 | 1,647 | |
Class C | 16,375 | 358,246 | 42,219 | 749,010 | |
Class R3 | 16,116 | 470,084 | 15,779 | 346,774 | |
Class R6 | 6,230 | 252,555 | 277,938 | 7,332,807 | |
Class I | 482,627 | 19,041,418 | 1,047,075 | 28,017,023 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 193,026 | 5,656,110 | — | — | |
Class C | 20,943 | 413,003 | — | — | |
Class R3 | 8,983 | 241,104 | — | — | |
Class R6 | 714 | 26,440 | — | — | |
Class I | 493,823 | 18,077,089 | — | — | |
1,384,653 | 49,182,527 | 1,480,265 | 38,637,603 | ||
Shares redeemed: | |||||
Class A | (107,911) | (3,426,165) | (207,545) | (4,732,224) | |
Class C | (44,625) | (943,901) | (39,774) | (657,605) | |
Class C – automatic conversion to Class A Shares | (19) | (421) | (107) | (1,647) | |
Class R3 | (7,184) | (210,570) | (21,701) | (461,259) | |
Class R6 | (26,888) | (1,071,445) | (252,740) | (7,154,125) | |
Class I | (572,878) | (21,902,995) | (2,737,371) | (71,099,832) | |
(759,505) | (27,555,497) | (3,259,238) | (84,106,692) | ||
Net increase (decrease) | 625,148 | $ 21,627,030 | (1,778,973) | $(45,469,089) |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Tax cost of investments | $347,308,398 | $221,098,326 |
Gross unrealized: | ||
Appreciation | $131,117,439 | $ 81,675,449 |
Depreciation | (7,262,260) | (7,399,328) |
Net unrealized appreciation (depreciation) of investments | $123,855,179 | $ 74,276,121 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Undistributed net ordinary income1 | $ 6,242,835 | $ 5,518,230 |
Undistributed net long-term capital gains | 44,638,423 | 20,049,400 |
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 | $ — | $ — |
Distributions from net long-term capital gains | 73,546,562 | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
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 | 0.1737% |
Fund | Expense Cap | Expense Cap Expiration Date |
Mid Cap Growth Opportunities | 0.92% | July 31, 2022 |
Small Cap Growth Opportunities | 0.99% | July 31, 2022 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Sales charges collected | $19,642 | $30,127 |
Paid to financial intermediaries | 17,758 | 27,078 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
Commission advances | $5,660 | $5,573 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
12b-1 fees retained | $1,125 | $616 |
Mid Cap Growth Opportunities | Small Cap Growth Opportunities | |
CDSC retained | $768 | $310 |
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185222imga763dcac1.gif)
Serving Investors for Generations
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185795imgc76812b61.gif)
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 |
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185795imgc76812b61.gif)
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185795imga6b912c92.jpg)
![](https://capedge.com/proxy/N-CSRS/0001193125-21-209450/g185795imga0fa1b923.jpg)
Total Returns as of April 30, 2021* | |||||||||
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 | 32.14% | 46.91% | 17.59% | 12.94% | 1.30% | 1.06% | ||
Class A Shares at maximum Offering Price | 1/31/03 | 24.54% | 38.47% | 16.21% | 12.27% | - | - | ||
S&P 500® Index | - | 28.85% | 45.98% | 17.42% | 14.17% | - | - | ||
Lipper Large-Cap Core Funds Classification Average | - | 28.66% | 44.83% | 16.07% | 12.76% | - | - | ||
Class C Shares | 1/31/03 | 31.62% | 45.78% | 16.70% | 12.27% | 2.05% | 1.81% | ||
Class I Shares | 1/31/03 | 32.30% | 47.24% | 17.88% | 13.22% | 1.05% | 0.81% |
Total Returns as of April 30, 2021* | |||||||||
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 | 47.71% | 77.11% | 16.60% | 11.25% | 1.48% | 1.24% | ||
Class A Shares at maximum Offering Price | 5/06/92 | 39.18% | 66.89% | 15.22% | 10.60% | - | - | ||
Russell 2000® Index | - | 48.06% | 74.91% | 16.48% | 11.63% | - | - | ||
Lipper Small-Cap Core Funds Classification Average | - | 50.48% | 72.17% | 13.47% | 10.26% | - | - | ||
Class C Shares | 9/24/01 | 47.12% | 75.80% | 15.74% | 10.59% | 2.23% | 1.99% | ||
Class R3 Shares | 1/03/94 | 47.44% | 76.62% | 16.29% | 10.97% | 1.73% | 1.49% | ||
Class I Shares | 5/06/92 | 47.95% | 77.50% | 16.88% | 11.53% | 1.23% | 0.99% |
Total Returns as of April 30, 2021* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 2/28/18 | 47.94% | 77.59% | 16.62% | 1.09% | 0.86% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.5% |
Investments Purchased with Collateral from Securities Lending | 1.8% |
Repurchase Agreements | 0.5% |
Other Assets Less Liabilities | (1.8)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Interactive Media & Services | 10.2% |
Software | 9.2% |
IT Services | 8.2% |
Semiconductors & Semiconductor Equipment | 5.7% |
Health Care Providers & Services | 5.1% |
Consumer Finance | 4.5% |
Health Care Equipment & Supplies | 3.8% |
Hotels, Restaurants & Leisure | 3.3% |
Biotechnology | 3.2% |
Entertainment | 3.1% |
Electrical Equipment | 3.1% |
Chemicals | 3.0% |
Internet & Direct Marketing Retail | 2.9% |
Banks | 2.7% |
Machinery | 2.6% |
Capital Markets | 2.6% |
Building Products | 2.4% |
Metals & Mining | 2.1% |
Aerospace & Defense | 1.9% |
Other 1 | 19.9% |
Investments Purchased with Collateral from Securities Lending | 1.8% |
Repurchase Agreements | 0.5% |
Other Assets Less Liabilities | (1.8)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Alphabet Inc, Class C | 6.3% |
Microsoft Corp | 5.6% |
Facebook Inc, Class A | 3.9% |
Mastercard Inc, Class A | 3.3% |
Amazon.com Inc | 2.9% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 98.3% |
Investments Purchased with Collateral from Securities Lending | 0.9% |
Repurchase Agreements | 1.8% |
Other Assets Less Liabilities | (1.0)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 10.0% |
Hotels, Restaurants & Leisure | 7.0% |
Health Care Providers & Services | 6.7% |
Health Care Equipment & Supplies | 6.2% |
Biotechnology | 5.9% |
Machinery | 5.5% |
Semiconductors & Semiconductor Equipment | 4.7% |
Equity Real Estate Investment Trust | 4.6% |
Software | 3.7% |
Trading Companies & Distributors | 2.9% |
Electrical Equipment | 2.8% |
Capital Markets | 2.5% |
IT Services | 2.5% |
Chemicals | 2.5% |
Textiles, Apparel & Luxury Goods | 2.4% |
Specialty Retail | 2.4% |
Auto Components | 2.4% |
Consumer Finance | 1.9% |
Oil, Gas & Consumable Fuels | 1.7% |
Building Products | 1.5% |
Other 1 | 18.5% |
Investments Purchased with Collateral from Securities Lending | 0.9% |
Repurchase Agreements | 1.8% |
Other Assets Less Liabilities | (1.0)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Western Alliance Bancorp | 1.8% |
PDC Energy Inc | 1.6% |
AZEK Co Inc | 1.5% |
Altra Industrial Motion Corp | 1.5% |
Beacon Roofing Supply Inc | 1.5% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,321.38 | $1,316.22 | $1,322.96 |
Expenses Incurred During the Period | $ 6.04 | $ 10.34 | $ 4.61 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.59 | $1,015.87 | $1,020.83 |
Expenses Incurred During the Period | $ 5.26 | $ 9.00 | $ 4.01 |
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 | $1,477.07 | $1,471.24 | $1,474.39 | $1,479.40 | $1,479.48 |
Expenses Incurred During the Period | $ 7.62 | $ 12.19 | $ 9.14 | $ 5.53 | $ 6.09 |
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 | $1,018.65 | $1,014.93 | $1,017.41 | $1,020.33 | $1,019.89 |
Expenses Incurred During the Period | $ 6.21 | $ 9.94 | $ 7.45 | $ 4.51 | $ 4.96 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.5% | ||||||
COMMON STOCKS – 99.5% | ||||||
Aerospace & Defense – 1.9% | ||||||
8,204 | Airbus SE, Unsponsored ADR, (2), (3) | $246,202 | ||||
8,342 | Raytheon Technologies Corp | 694,388 | ||||
Total Aerospace & Defense | 940,590 | |||||
Auto Components – 1.0% | ||||||
3,551 | Aptiv PLC, (3) | 510,953 | ||||
Automobiles – 1.4% | ||||||
8,775 | General Motors Co, (3) | 502,105 | ||||
7,093 | Volkswagen AG, Unsponsored ADR, (2) | 224,919 | ||||
Total Automobiles | 727,024 | |||||
Banks – 2.7% | ||||||
11,692 | Citigroup Inc | 832,938 | ||||
34,755 | Huntington Bancshares Inc/OH | 532,447 | ||||
Total Banks | 1,365,385 | |||||
Beverages – 0.9% | ||||||
4,745 | Monster Beverage Corp, (3) | 460,502 | ||||
Biotechnology – 3.2% | ||||||
7,146 | AbbVie Inc | 796,779 | ||||
2,453 | BioNTech SE, ADR, (3) | 461,851 | ||||
1,668 | Vertex Pharmaceuticals Inc, (3) | 363,957 | ||||
Total Biotechnology | 1,622,587 | |||||
Building Products – 2.4% | ||||||
13,058 | Carrier Global Corp | 569,068 | ||||
10,192 | Johnson Controls International plc | 635,369 | ||||
Total Building Products | 1,204,437 | |||||
Capital Markets – 2.6% | ||||||
3,570 | Charles Schwab Corp | 251,328 | ||||
12,545 | Morgan Stanley | 1,035,590 | ||||
Total Capital Markets | 1,286,918 | |||||
Chemicals – 3.0% | ||||||
15,947 | Axalta Coating Systems Ltd, (3) | 508,550 | ||||
3,755 | International Flavors & Fragrances Inc | 533,848 | ||||
8,075 | Nutrien Ltd | 445,659 | ||||
Total Chemicals | 1,488,057 |
Shares | Description (1) | Value | ||||
Commercial Services & Supplies – 1.2% | ||||||
4,430 | Waste Management Inc | $ 611,207 | ||||
Communications Equipment – 1.6% | ||||||
15,513 | Cisco Systems Inc | 789,767 | ||||
Consumer Finance – 4.5% | ||||||
3,991 | American Express Co | 612,020 | ||||
7,742 | Discover Financial Services | 882,588 | ||||
17,692 | Synchrony Financial | 773,848 | ||||
Total Consumer Finance | 2,268,456 | |||||
Electric Utilities – 1.4% | ||||||
7,983 | American Electric Power Co Inc | 708,172 | ||||
Electrical Equipment – 3.1% | ||||||
3,903 | Eaton Corp PLC | 557,856 | ||||
2,520 | Hubbell Inc | 483,865 | ||||
22,547 | Vertiv Holdings Co | 511,817 | ||||
Total Electrical Equipment | 1,553,538 | |||||
Entertainment – 3.1% | ||||||
6,205 | Activision Blizzard Inc | 565,834 | ||||
5,335 | Walt Disney Co, (3) | 992,417 | ||||
Total Entertainment | 1,558,251 | |||||
Equity Real Estate Investment Trust – 1.1% | ||||||
4,555 | Simon Property Group Inc | 554,526 | ||||
Food & Staples Retailing – 0.6% | ||||||
2,086 | Walmart Inc | 291,852 | ||||
Health Care Equipment & Supplies – 3.8% | ||||||
14,874 | Boston Scientific Corp, (3) | 648,507 | ||||
5,484 | Medtronic PLC | 717,965 | ||||
2,993 | Zimmer Biomet Holdings Inc | 530,240 | ||||
Total Health Care Equipment & Supplies | 1,896,712 | |||||
Health Care Providers & Services – 5.1% | ||||||
1,578 | Anthem Inc | 598,677 | ||||
2,425 | Cigna Corp | 603,849 | ||||
1,320 | Humana Inc | 587,717 | ||||
1,931 | UnitedHealth Group Inc | 770,083 | ||||
Total Health Care Providers & Services | 2,560,326 | |||||
Hotels, Restaurants & Leisure – 3.3% | ||||||
3,212 | McDonald's Corp | 758,289 | ||||
7,857 | Travel + Leisure Co | 507,012 |
Shares | Description (1) | Value | ||||
Hotels, Restaurants & Leisure (continued) | ||||||
5,278 | Wyndham Hotels & Resorts Inc | $ 385,875 | ||||
Total Hotels, Restaurants & Leisure | 1,651,176 | |||||
Household Durables – 1.1% | ||||||
2,429 | Whirlpool Corp | 574,337 | ||||
Insurance – 1.2% | ||||||
6,271 | Prudential Financial Inc | 629,358 | ||||
Interactive Media & Services – 10.2% | ||||||
1,324 | Alphabet Inc, Class C, (3) | 3,190,998 | ||||
5,965 | Facebook Inc, Class A, (3) | 1,939,103 | ||||
Total Interactive Media & Services | 5,130,101 | |||||
Internet & Direct Marketing Retail – 2.9% | ||||||
428 | Amazon.com Inc, (3) | 1,484,056 | ||||
IT Services – 8.2% | ||||||
10,188 | Fiserv Inc, (3) | 1,223,783 | ||||
4,335 | Mastercard Inc, Class A | 1,656,230 | ||||
5,332 | Visa Inc, Class A | 1,245,342 | ||||
Total IT Services | 4,125,355 | |||||
Machinery – 2.6% | ||||||
2,003 | Deere & Co | 742,812 | ||||
2,784 | Stanley Black & Decker Inc | 575,648 | ||||
Total Machinery | 1,318,460 | |||||
Metals & Mining – 2.1% | ||||||
19,967 | Freeport-McMoRan Inc | 752,955 | ||||
4,641 | Newmont Corp | 289,645 | ||||
Total Metals & Mining | 1,042,600 | |||||
Oil, Gas & Consumable Fuels – 1.0% | ||||||
3,423 | Pioneer Natural Resources Co | 526,560 | ||||
Pharmaceuticals – 1.8% | ||||||
17,124 | AstraZeneca PLC, Sponsored ADR, (4) | 908,771 | ||||
Road & Rail – 1.4% | ||||||
3,090 | Union Pacific Corp | 686,258 | ||||
Semiconductors & Semiconductor Equipment – 5.7% | ||||||
1,576 | Broadcom Inc | 718,971 | ||||
1,593 | Lam Research Corp | 988,377 | ||||
8,812 | Marvell Technology Inc | 398,390 | ||||
3,882 | NXP Semiconductors NV | 747,324 | ||||
Total Semiconductors & Semiconductor Equipment | 2,853,062 |
Shares | Description (1) | Value | ||||
Software – 9.2% | ||||||
2,437 | Check Point Software Technologies Ltd, (3) | $284,666 | ||||
11,159 | Microsoft Corp | 2,814,077 | ||||
3,489 | salesforcecom Inc, (3) | 803,586 | ||||
1,419 | ServiceNow Inc, (3) | 718,539 | ||||
Total Software | 4,620,868 | |||||
Textiles, Apparel & Luxury Goods – 0.5% | ||||||
4,890 | Capri Holdings Ltd, (3) | 269,341 | ||||
Tobacco – 1.7% | ||||||
8,883 | Philip Morris International Inc | 843,885 | ||||
Trading Companies & Distributors – 1.0% | ||||||
5,683 | WESCO International Inc, (3) | 521,245 | ||||
Wireless Telecommunication Services – 1.0% | ||||||
3,778 | T-Mobile US Inc, (3) | 499,187 | ||||
Total Long-Term Investments (cost $37,231,760) | 50,083,880 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 1.8% | ||||||
MONEY MARKET FUNDS – 1.8% | ||||||
899,643 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.020% (6) | $ 899,643 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $899,643) | 899,643 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 0.5% | ||||||
REPURCHASE AGREEMENTS – 0.5% | ||||||
$ 259 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $258,555, collateralized by $276,500, U.S. Treasury Notes, 0.500%, due 10/31/27, value $263,820 | 0.000% | 5/03/21 | $ 258,555 | ||
Total Short-Term Investments (cost $258,555) | 258,555 | |||||
Total Investments (cost $38,389,958) – 101.8% | 51,242,078 | |||||
Other Assets Less Liabilities – (1.8)% | (903,561) | |||||
Net Assets – 100% | $ 50,338,517 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | For fair value measurement disclosure purposes, investment classified as Level 2. See Notes to Financial Statements, Note 3 - Investment Valuation and Fair Value Measurements for more information. | |
(3) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(4) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $899,643. | |
(5) | The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. | |
ADR | American Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.3% | ||||||
COMMON STOCKS – 98.3% | ||||||
Aerospace & Defense – 0.9% | ||||||
44,866 | Kratos Defense & Security Solutions Inc, (2) | $ 1,199,717 | ||||
Air Freight & Logistics – 1.3% | ||||||
27,740 | Hub Group Inc, Class A, (2) | 1,823,073 | ||||
Auto Components – 2.4% | ||||||
37,917 | Adient PLC, (2) | 1,757,074 | ||||
16,886 | Patrick Industries Inc | 1,512,985 | ||||
Total Auto Components | 3,270,059 | |||||
Banks – 10.0% | ||||||
27,808 | Ameris Bancorp | 1,504,135 | ||||
32,213 | Banner Corp | 1,830,987 | ||||
60,919 | Home BancShares Inc/AR | 1,695,376 | ||||
26,335 | PacWest Bancorp | 1,143,202 | ||||
22,033 | Preferred Bank/Los Angeles CA | 1,444,043 | ||||
44,443 | Renasant Corp | 1,872,383 | ||||
24,002 | Western Alliance Bancorp | 2,521,890 | ||||
22,599 | Wintrust Financial Corp | 1,742,383 | ||||
Total Banks | 13,754,399 | |||||
Beverages – 0.9% | ||||||
20,121 | MGP Ingredients Inc | 1,209,272 | ||||
Biotechnology – 5.9% | ||||||
9,043 | Arena Pharmaceuticals Inc, (2) | 620,621 | ||||
6,177 | Blueprint Medicines Corp, (2) | 594,969 | ||||
10,302 | Bridgebio Pharma Inc, (2) | 576,088 | ||||
15,256 | ChemoCentryx Inc, (2) | 737,322 | ||||
9,769 | Emergent BioSolutions Inc, (2) | 595,714 | ||||
7,686 | Fate Therapeutics Inc, (2) | 671,680 | ||||
11,560 | Halozyme Therapeutics Inc, (2) | 577,422 | ||||
11,320 | Horizon Therapeutics Plc, (2) | 1,071,098 | ||||
7,460 | Intellia Therapeutics Inc, (2) | 572,704 | ||||
6,188 | Natera Inc, (2) | 680,804 | ||||
4,219 | Novavax Inc, (2) | 999,608 | ||||
13,154 | REVOLUTION Medicines Inc, (2) | 436,581 | ||||
Total Biotechnology | 8,134,611 |
Shares | Description (1) | Value | ||||
Building Products – 1.5% | ||||||
44,052 | AZEK Co Inc, (2) | $ 2,126,830 | ||||
Capital Markets – 2.5% | ||||||
11,944 | Evercore Inc, Class A | 1,673,713 | ||||
15,843 | Piper Sandler Cos | 1,837,629 | ||||
Total Capital Markets | 3,511,342 | |||||
Chemicals – 2.5% | ||||||
37,102 | Avient Corp | 1,883,669 | ||||
23,538 | HB Fuller Co | 1,572,809 | ||||
Total Chemicals | 3,456,478 | |||||
Construction Materials – 1.0% | ||||||
46,396 | Summit Materials Inc, Class A, (2) | 1,335,741 | ||||
Consumer Finance – 1.9% | ||||||
23,067 | PROG Holdings Inc | 1,175,033 | ||||
37,830 | Regional Management Corp | 1,465,156 | ||||
Total Consumer Finance | 2,640,189 | |||||
Diversified Consumer Services – 1.1% | ||||||
38,652 | 2U Inc, (2) | 1,517,091 | ||||
Diversified Telecommunication Services – 1.1% | ||||||
11,206 | Bandwidth Inc, Class A, (2) | 1,481,433 | ||||
Electrical Equipment – 2.8% | ||||||
15,143 | EnerSys | 1,386,796 | ||||
10,053 | Regal Beloit Corp | 1,451,955 | ||||
20,080 | Sunrun Inc, (2) | 983,920 | ||||
Total Electrical Equipment | 3,822,671 | |||||
Electronic Equipment, Instruments & Components – 0.9% | ||||||
85,606 | TTM Technologies Inc, (2) | 1,284,090 | ||||
Equity Real Estate Investment Trust – 4.6% | ||||||
74,162 | Brandywine Realty Trust | 1,003,412 | ||||
6,811 | EastGroup Properties Inc | 1,080,633 | ||||
55,467 | Industrial Logistics Properties Trust | 1,375,582 | ||||
36,316 | STAG Industrial Inc | 1,325,897 | ||||
151,624 | Summit Hotel Properties Inc, (2) | 1,542,016 | ||||
Total Equity Real Estate Investment Trust | 6,327,540 | |||||
Gas Utilities – 1.3% | ||||||
23,300 | Spire Inc | 1,755,422 | ||||
Health Care Equipment & Supplies – 6.2% | ||||||
22,407 | AtriCure Inc, (2) | 1,726,908 |
Shares | Description (1) | Value | ||||
Health Care Equipment & Supplies (continued) | ||||||
42,558 | BioLife Solutions Inc, (2) | $1,485,274 | ||||
19,733 | Establishment Labs Holdings Inc, (2) | 1,433,405 | ||||
115,014 | SmileDirectClub Inc, (2), (3) | 1,223,174 | ||||
22,611 | Tactile Systems Technology Inc, (2) | 1,295,610 | ||||
14,503 | Tandem Diabetes Care Inc, (2) | 1,332,826 | ||||
Total Health Care Equipment & Supplies | 8,497,197 | |||||
Health Care Providers & Services – 6.7% | ||||||
32,648 | 1Life Healthcare Inc, (2) | 1,420,514 | ||||
25,815 | Acadia Healthcare Co Inc, (2) | 1,572,650 | ||||
15,137 | AMN Healthcare Services Inc, (2) | 1,200,364 | ||||
72,565 | Option Care Health Inc, (2) | 1,384,540 | ||||
15,461 | Privia Health Group Inc, (2) | 561,544 | ||||
38,287 | Select Medical Holdings Corp, (2) | 1,444,186 | ||||
28,416 | Tenet Healthcare Corp, (2) | 1,683,932 | ||||
Total Health Care Providers & Services | 9,267,730 | |||||
Hotels, Restaurants & Leisure – 7.0% | ||||||
2,851 | BJ's Restaurants Inc, (2) | 173,882 | ||||
22,271 | Boyd Gaming Corp, (2) | 1,473,227 | ||||
109,823 | Everi Holdings Inc, (2) | 1,941,671 | ||||
10,412 | Marriott Vacations Worldwide Corp, (2) | 1,849,483 | ||||
69,845 | Noodles & Co, (2) | 844,077 | ||||
14,627 | Papa John's International Inc | 1,414,723 | ||||
41,057 | Six Flags Entertainment Corp, (2) | 1,928,858 | ||||
Total Hotels, Restaurants & Leisure | 9,625,921 | |||||
IT Services – 2.5% | ||||||
1,727 | LiveRamp Holdings Inc, (2) | 84,588 | ||||
21,866 | MAXIMUS Inc | 2,003,800 | ||||
102,779 | Verra Mobility Corp, (2) | 1,381,350 | ||||
Total IT Services | 3,469,738 | |||||
Machinery – 5.5% | ||||||
35,295 | Altra Industrial Motion Corp | 2,082,758 | ||||
24,389 | Astec Industries Inc | 1,829,419 | ||||
49,634 | Shyft Group Inc | 1,758,036 | ||||
30,823 | SPX Corp, (2) | 1,869,723 | ||||
Total Machinery | 7,539,936 | |||||
Media – 0.8% | ||||||
27,654 | Magnite Inc, (2) | 1,107,543 | ||||
Metals & Mining – 1.3% | ||||||
48,819 | Alcoa Corp, (2) | 1,788,728 |
Shares | Description (1) | Value | ||||
Mortgage Real Estate Investment Trust – 0.8% | ||||||
96,292 | Ladder Capital Corp | $ 1,144,912 | ||||
Multi-Utilities – 1.3% | ||||||
26,482 | Black Hills Corp | 1,826,728 | ||||
Oil, Gas & Consumable Fuels – 1.7% | ||||||
62,300 | PDC Energy Inc, (2) | 2,274,573 | ||||
Paper & Forest Products – 1.2% | ||||||
25,767 | Louisiana-Pacific Corp | 1,697,530 | ||||
Personal Products – 1.0% | ||||||
47,530 | elf Beauty Inc, (2) | 1,437,783 | ||||
Pharmaceuticals – 1.0% | ||||||
21,275 | Pacira BioSciences Inc, (2) | 1,344,155 | ||||
Professional Services – 1.2% | ||||||
17,500 | ICF International Inc | 1,593,550 | ||||
Road & Rail – 1.4% | ||||||
8,446 | Saia Inc, (2) | 1,980,587 | ||||
Semiconductors & Semiconductor Equipment – 4.7% | ||||||
16,872 | Advanced Energy Industries Inc | 1,861,151 | ||||
7,163 | CMC Materials Inc | 1,313,909 | ||||
28,759 | Lattice Semiconductor Corp, (2) | 1,446,865 | ||||
33,484 | MACOM Technology Solutions Holdings Inc, (2) | 1,895,529 | ||||
Total Semiconductors & Semiconductor Equipment | 6,517,454 | |||||
Software – 3.7% | ||||||
38,095 | Asana Inc, Class A, (2) | 1,269,326 | ||||
10,294 | CommVault Systems Inc, (2) | 715,536 | ||||
14,395 | J2 Global Inc, (2) | 1,741,795 | ||||
24,882 | LivePerson Inc, (2) | 1,359,801 | ||||
Total Software | 5,086,458 | |||||
Specialty Retail – 2.4% | ||||||
27,195 | Foot Locker Inc | 1,603,961 | ||||
47,028 | Urban Outfitters Inc, (2) | 1,688,305 | ||||
Total Specialty Retail | 3,292,266 | |||||
Textiles, Apparel & Luxury Goods – 2.4% | ||||||
21,662 | Kontoor Brands Inc | 1,361,023 | ||||
49,006 | Steven Madden Ltd | 1,993,074 | ||||
Total Textiles, Apparel & Luxury Goods | 3,354,097 |
Shares | Description (1) | Value | ||||
Trading Companies & Distributors – 2.9% | ||||||
20,614 | Applied Industrial Technologies Inc | $1,971,935 | ||||
36,112 | Beacon Roofing Supply Inc, (2) | 2,034,189 | ||||
Total Trading Companies & Distributors | 4,006,124 | |||||
Total Long-Term Investments (cost $100,542,308) | 135,502,968 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.9% | ||||||
MONEY MARKET FUNDS – 0.9% | ||||||
1,201,776 | State Street Navigator Securities Lending Government Money Market Portfolio, (4) | 0.020% (5) | $ 1,201,776 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $1,201,776) | 1,201,776 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.8% | ||||||
REPURCHASE AGREEMENTS – 1.8% | ||||||
$ 2,476 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/21, repurchase price $2,475,622, collateralized by $2,646,600, U.S. Treasury Notes, 0.500%, due 10/31/27, value $2,525,230 | 0.000% | 5/03/21 | $ 2,475,622 | ||
Total Short-Term Investments (cost $2,475,622) | 2,475,622 | |||||
Total Investments (cost $104,219,706) – 101.0% | 139,180,366 | |||||
Other Assets Less Liabilities – (1.0)% | (1,322,920) | |||||
Net Assets – 100% | $ 137,857,446 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(3) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $1,111,358. | |
(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 one-day yield as of the end of the reporting period. |
Large Cap Select | Small Cap Select | |
Assets | ||
Long-term investments, at value (cost $37,231,760 and $100,542,308, respectively)(1) | $50,083,880 | $135,502,968 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | 899,643 | 1,201,776 |
Short-term investments, at value (cost approximates value) | 258,555 | 2,475,622 |
Receivable for: | ||
Dividends | 36,096 | 26,639 |
Due from affiliate | 1,819 | 14,045 |
Investments sold | 252,286 | 2,470,486 |
Shares sold | 12,521 | 202,853 |
Other assets | 22,417 | 55,859 |
Total assets | 51,567,217 | 141,950,248 |
Liabilities | ||
Payable for: | ||
Collateral from securities lending program | 899,643 | 1,201,776 |
Investments purchased - regular settlement | 254,249 | 2,542,920 |
Shares redeemed | — | 103,670 |
Accrued expenses: | ||
Directors fees | 652 | 23,118 |
Management fees | 22,922 | 82,523 |
12b-1 distribution and service fees | 7,666 | 18,283 |
Other | 43,568 | 120,512 |
Total liabilities | 1,228,700 | 4,092,802 |
Net assets | $50,338,517 | $137,857,446 |
Large Cap Select | Small Cap Select | |
Class A Shares | ||
Net assets | $30,299,871 | $ 72,132,234 |
Shares outstanding | 719,412 | 6,327,501 |
Net asset value ("NAV") per share | $ 42.12 | $ 11.40 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 44.69 | $ 12.10 |
Class C Shares | ||
Net assets | $ 1,965,359 | $ 1,207,978 |
Shares outstanding | 50,677 | 199,293 |
NAV and offering price per share | $ 38.78 | $ 6.06 |
Class R3 Shares | ||
Net assets | $ — | $ 6,742,225 |
Shares outstanding | — | 680,751 |
NAV and offering price per share | $ — | $ 9.90 |
Class R6 Shares | ||
Net assets | $ — | $ 2,888,673 |
Shares outstanding | — | 185,632 |
NAV and offering price per share | $ — | $ 15.56 |
Class I Shares | ||
Net assets | $18,073,287 | $ 54,886,336 |
Shares outstanding | 425,643 | 3,534,704 |
NAV and offering price per share | $ 42.46 | $ 15.53 |
Fund level net assets consist of: | ||
Capital paid-in | $30,446,398 | $ 84,791,049 |
Total distributable earnings | 19,892,119 | 53,066,397 |
Fund level net assets | $50,338,517 | $137,857,446 |
Authorized shares - per class | 2 billion | 2 billion |
Par value per share | $ 0.0001 | $ 0.0001 |
(1) | Includes securities loaned of $899,643 and $1,111,358 for Large Cap Select and Small Cap Select, respectively. |
Large Cap Select | Small Cap Select | |
Investment Income | ||
Dividends | $ 295,793 | $ 456,578 |
Securities lending income, net | 349 | 2,673 |
Payment from affiliate | 2,791 | 16,720 |
Tax withheld | (2,373) | — |
Total investment income | 296,560 | 475,971 |
Expenses | ||
Management fees | 164,599 | 495,598 |
12b-1 service fees - Class A Shares | 34,239 | 79,105 |
12b-1 distribution and service fees - Class C Shares | 9,701 | 5,142 |
12b-1 distribution and service fees - Class R3 Shares | — | 14,721 |
Shareholder servicing agent fees | 15,555 | 58,897 |
Interest expense | — | 219 |
Custodian fees | 9,076 | 14,222 |
Professional fees | 12,278 | 13,653 |
Directors fees | 636 | 1,550 |
Shareholder reporting expenses | 9,951 | 29,469 |
Federal and state registration fees | 27,289 | 39,456 |
Other | 855 | 2,933 |
Total expenses before fee waiver/expense reimbursement | 284,179 | 754,965 |
Fee waiver/expense reimbursement | (53,128) | (79,889) |
Net expenses | 231,051 | 675,076 |
Net investment income (loss) | 65,509 | (199,105) |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) from investments | 7,061,267 | 18,690,352 |
Change in net unrealized appreciation (depreciation) of investments | 5,891,018 | 24,009,773 |
Net realized and unrealized gain (loss) | 12,952,285 | 42,700,125 |
Net increase (decrease) in net assets from operations | $13,017,794 | $42,501,020 |
Large Cap Select | Small Cap Select | ||||
Unaudited Six Months Ended 4/30/21 | Year Ended 10/31/20 | Unaudited Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||
Operations | |||||
Net investment income (loss) | $ 65,509 | $ 263,136 | $ (199,105) | $ 14,037 | |
Net realized gain (loss) from investments | 7,061,267 | 1,173,674 | 18,690,352 | 2,286,463 | |
Change in net unrealized appreciation (depreciation) of investments | 5,891,018 | 908,025 | 24,009,773 | (762,160) | |
Net increase (decrease) in net assets from operations | 13,017,794 | 2,344,835 | 42,501,020 | 1,538,340 | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (211,310) | (288,657) | (852,635) | (81,269) | |
Class C Shares | (6,336) | (9,872) | (25,593) | — | |
Class R3 Shares | — | — | (103,624) | — | |
Class R6 Shares | — | — | (33,157) | (11,344) | |
Class I Shares | (163,741) | (256,895) | (480,425) | (116,045) | |
Decrease in net assets from distributions to shareholders | (381,387) | (555,424) | (1,495,434) | (208,658) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 4,795,533 | 5,878,456 | 20,860,312 | 15,280,667 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 295,603 | 417,962 | 1,460,994 | 197,954 | |
5,091,136 | 6,296,418 | 22,321,306 | 15,478,621 | ||
Cost of shares redeemed | (9,296,835) | (11,065,090) | (13,726,964) | (22,801,671) | |
Net increase (decrease) in net assets from Fund share transactions | (4,205,699) | (4,768,672) | 8,594,342 | (7,323,050) | |
Net increase (decrease) in net assets | 8,430,708 | (2,979,261) | 49,599,928 | (5,993,368) | |
Net assets at the beginning of period | 41,907,809 | 44,887,070 | 88,257,518 | 94,250,886 | |
Net assets at the end of period | $50,338,517 | $ 41,907,809 | $137,857,446 | $ 88,257,518 |
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) | |||||||||
2021(f) | $32.12 | $ 0.04 | $10.24 | $10.28 | $(0.17) | $(0.11) | $(0.28) | $42.12 | |
2020 | 30.71 | 0.17 | 1.61 | 1.78 | (0.37) | — | (0.37) | 32.12 | |
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 | |
Class C (01/03) | |||||||||
2021(f) | 29.56 | (0.09) | 9.42 | 9.33 | — | (0.11) | (0.11) | 38.78 | |
2020 | 28.28 | (0.06) | 1.47 | 1.41 | (0.13) | — | (0.13) | 29.56 | |
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 | |
Class I (01/03) | |||||||||
2021(f) | 32.41 | 0.09 | 10.32 | 10.41 | (0.25) | (0.11) | (0.36) | 42.46 | |
2020 | 30.98 | 0.25 | 1.62 | 1.87 | (0.44) | — | (0.44) | 32.41 | |
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 |
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) | |
32.14% | $30,300 | 1.27%** | (0.01)%** | (0.02)%** | 1.05%** | 0.22%** | 0.21%** | 58% | |
5.76 | 24,135 | 1.30 | 0.34 | 0.34 | 1.11 | 0.54 | 0.54 | 101 | |
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 | |
31.62 | 1,965 | 2.02** | (0.76)** | (0.77)** | 1.80** | (0.53)** | (0.54)** | 58 | |
4.99 | 1,743 | 2.05 | (0.40) | (0.40) | 1.86 | (0.21) | (0.21) | 101 | |
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 | |
32.30 | 18,073 | 1.02** | 0.24** | 0.23** | 0.80** | 0.46** | 0.45** | 58 | |
6.02 | 16,030 | 1.05 | 0.60 | 0.60 | 0.86 | 0.79 | 0.79 | 101 | |
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 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the periods ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund’s Total Return for each share class 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) | Unaudited. For the six months ended April 30, 2021. |
* | Rounds to more than $(0.01) 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) | |||||||||
2021(f) | $ 7.83 | $ (0.02) | $3.73 | $3.71 | $( —)** | $(0.14) | $(0.14) | $11.40 | |
2020 | 7.71 | ( —)** | 0.13 | 0.13 | (0.01) | — | (0.01) | 7.83 | |
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 | |
Class C (09/01) | |||||||||
2021(f) | 4.23 | (0.03) | 2.00 | 1.97 | — | (0.14) | (0.14) | 6.06 | |
2020 | 4.19 | (0.03) | 0.07 | 0.04 | — | — | — | 4.23 | |
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 | |
Class R3 (01/94) | |||||||||
2021(f) | 6.84 | (0.03) | 3.25 | 3.22 | (0.02) | (0.14) | (0.16) | 9.90 | |
2020 | 6.74 | (0.02) | 0.12 | 0.10 | — | — | — | 6.84 | |
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 | |
Class R6 (02/18) | |||||||||
2021(f) | 10.66 | (0.01) | 5.09 | 5.08 | (0.04) | (0.14) | (0.18) | 15.56 | |
2020 | 10.49 | 0.03 | 0.20 | 0.23 | (0.06) | — | (0.06) | 10.66 | |
2019 | 11.87 | 0.04 | 0.44 | 0.48 | (0.03) | (1.83) | (1.86) | 10.49 | |
2018(g) | 11.82 | 0.02 | 0.03 | 0.05 | — | — | — | 11.87 | |
Class I (05/92) | |||||||||
2021(f) | 10.63 | (0.01) | 5.08 | 5.07 | (0.03) | (0.14) | (0.17) | 15.53 | |
2020 | 10.46 | 0.02 | 0.19 | 0.21 | (0.04) | — | (0.04) | 10.63 | |
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 |
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) | |
47.71% | $72,132 | 1.38%* | (0.55)%* | (0.58)%* | 1.24%* | (0.41)%* | (0.44)%* | 60% | |
1.70 | 49,513 | 1.48 | (0.29) | (0.31) | 1.24 | (0.05) | (0.07) | 90 | |
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 | |
47.12 | 1,208 | 2.13* | (1.31)* | (1.34)* | 1.99* | (1.17)* | (1.20)* | 60 | |
0.95 | 807 | 2.23 | (1.01) | (1.03) | 1.99 | (0.78) | (0.80) | 90 | |
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 | |
47.44 | 6,742 | 1.63* | (0.81)* | (0.84)* | 1.49* | (0.67)* | (0.70)* | 60 | |
1.48 | 4,603 | 1.73 | (0.55) | (0.57) | 1.49 | (0.32) | (0.34) | 90 | |
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 | |
47.94 | 2,889 | 1.04* | (0.21)* | (0.24)* | 0.90* | (0.08)* | (0.11)* | 60 | |
2.15 | 1,994 | 1.09 | 0.08 | 0.06 | 0.86 | 0.32 | 0.30 | 90 | |
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 | |
47.95 | 54,886 | 1.13* | (0.33)* | (0.36)* | 0.99* | (0.19)* | (0.22)* | 60 | |
2.00 | 31,341 | 1.23 | (0.04) | (0.06) | 0.99 | 0.19 | 0.17 | 90 | |
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 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the periods ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund’s Total Return for each share class 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) | Unaudited. For the six months ended April 30, 2021. |
(g) | For the period February 28, 2018 (commencement of operations) through October 31, 2018. |
* | Annualized. |
** | Rounds to more than $(.01) per share. |
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 | $49,612,759 | $471,121** | $ — | $50,083,880 |
Investments Purchased with Collateral from Securities Lending | 899,643 | — | — | 899,643 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 258,555 | — | 258,555 |
Total | $50,512,402 | $729,676 | $ — | $51,242,078 |
Small Cap Select | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $135,502,968 | $ — | $ — | $135,502,968 |
Investments Purchased with Collateral from Securities Lending | 1,201,776 | — | — | 1,201,776 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 2,475,622 | — | 2,475,622 |
Total | $136,704,744 | $2,475,622 | $ — | $139,180,366 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 2. |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty |
Large Cap Select | Fixed Income Clearing Corporation | $ 258,555 | $ (263,820) |
Small Cap Select | Fixed Income Clearing Corporation | 2,475,622 | (2,525,230) |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Total Collateral Received |
Large Cap Select | Common Stock | $ 899,643 | $ 899,643 |
Small Cap Select | Common Stock | $1,111,358 | $1,201,776 |
Large Cap Select | Small Cap Select | |
Purchases | $26,989,936 | $73,546,067 |
Sales | 31,261,773 | 67,440,207 |
Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||||
Large Cap Select | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 33,530 | $ 1,280,096 | 134,762 | $ 4,158,714 | |
Class A – automatic conversion of Class C Shares | 715 | 28,717 | 322 | 9,547 | |
Class C | 565 | 18,580 | 7,173 | 185,304 | |
Class I | 88,559 | 3,468,140 | 50,169 | 1,524,891 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 5,570 | 202,130 | 8,421 | 275,945 | |
Class C | 191 | 6,335 | 304 | 9,233 | |
Class I | 2,381 | 87,138 | 4,024 | 132,784 | |
131,511 | 5,091,136 | 205,175 | 6,296,418 | ||
Shares redeemed: | |||||
Class A | (71,844) | (2,684,722) | (180,869) | (5,479,450) | |
Class C | (8,278) | (297,997) | (22,286) | (631,267) | |
Class C – automatic conversion to Class A Shares | (776) | (28,717) | (349) | (9,547) | |
Class I | (159,888) | (6,285,399) | (158,896) | (4,944,826) | |
(240,786) | (9,296,835) | (362,400) | (11,065,090) | ||
Net increase (decrease) | (109,275) | $(4,205,699) | (157,225) | $ (4,768,672) |
Six Months Ended 4/30/21 | Year Ended 10/31/20 | ||||
Small Cap Select | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 339,155 | $ 3,548,945 | 307,114 | $ 2,205,137 | |
Class A – automatic conversion of Class C Shares | 549 | 5,939 | 565 | 4,406 | |
Class C | 35,915 | 206,581 | 70,370 | 281,979 | |
Class R3 | 105,393 | 963,451 | 224,753 | 1,220,971 | |
Class R6 | 37,153 | 505,099 | 65,961 | 634,452 | |
Class I | 1,128,346 | 15,630,297 | 1,104,358 | 10,933,722 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 89,710 | 844,246 | 9,868 | 80,423 | |
Class C | 5,098 | 25,593 | — | — | |
Class R3 | 12,627 | 103,624 | — | — | |
Class R6 | 2,572 | 33,157 | 1,026 | 11,344 | |
Class I | 35,363 | 454,374 | 9,610 | 106,187 | |
1,791,881 | 22,321,306 | 1,793,625 | 15,478,621 | ||
Shares redeemed: | |||||
Class A | (424,592) | (4,310,763) | (1,242,360) | (9,117,685) | |
Class C | (31,390) | (174,171) | (124,081) | (490,229) | |
Class C – automatic conversion to Class A Shares | (1,170) | (5,939) | (1,041) | (4,406) | |
Class R3 | (110,208) | (987,989) | (322,738) | (2,126,594) | |
Class R6 | (41,098) | (586,788) | (77,255) | (754,897) | |
Class I | (576,064) | (7,661,314) | (1,044,786) | (10,307,860) | |
(1,184,522) | (13,726,964) | (2,812,261) | (22,801,671) | ||
Net increase (decrease) | 607,359 | $ 8,594,342 | (1,018,636) | $ (7,323,050) |
Large Cap Select | Small Cap Select | |
Tax cost of investments | $38,450,090 | $104,492,363 |
Gross unrealized: | ||
Appreciation | $13,034,662 | $ 37,099,968 |
Depreciation | (242,674) | (2,411,965) |
Net unrealized appreciation (depreciation) of investments | $12,791,988 | $ 34,688,003 |
Large Cap Select | Small Cap Select | |
Undistributed net ordinary income1 | $215,137 | $ — |
Undistributed net long-term capital gains | 139,605 | 1,384,383 |
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 | $555,424 | $ 64,365 |
Distributions from net long-term capital gains | — | 144,293 |
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 | |
Utilized capital loss carryforwards | $834,737 | $647,469 |
Small Cap Select | |
Post-October capital losses2 | $ — |
Late-year ordinary losses3 | 32,071 |
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 | 0.80% | July 31, 2022 |
Small Cap Select | 0.99 | July 31, 2022 |
Large Cap Select | Small Cap Select | |
Sales charges collected | $8,883 | $11,979 |
Paid to financial intermediaries | 7,863 | 11,034 |
Large Cap Select | Small Cap Select | |
Commission advances | $163 | $5,553 |
Large Cap Select | Small Cap Select | |
12b-1 fees retained | $336 | $552 |
Large Cap Select | Small Cap Select | |
CDSC retained | $61 | $52 |
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.
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/ Mark J. Czarniecki | |||
Mark J. Czarniecki | ||||
Vice President and Secretary |
Date: July 7, 2021
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Christopher E. Stickrod | |
Christopher E. Stickrod | ||
Chief Administrative Officer | ||
(principal executive officer) |
Date: July 7, 2021
By (Signature and Title) | /s/ E. Scott Wickerham | |
E. Scott Wickerham Vice President and Controller (principal financial officer) |
Date: July 7, 2021