Nuveen Large Cap Select Fund (FLRYX) N-CSR Certified annual shareholder report (management investment company)

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: October 31, 2022

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.

Mutual

Funds

Nuveen

Equity

Funds

October

31,

2022

Annual

Report

Fund

Name

Class

A

Class

C

Class

R6

Class

I

Nuveen

Dividend

Value

Fund

FFEIX

FFECX

FFEFX

FAQIX

Nuveen

Large

Cap

Select

Fund

FLRAX

FLYCX

—

FLRYX

Nuveen

Mid

Cap

Growth

Opportunities

Fund

FRSLX

—

FMEFX

FISGX

Nuveen

Mid

Cap

Value

Fund

FASEX

FACSX

FMVQX

FSEIX

Nuveen

Small

Cap

Growth

Opportunities

Fund

FRMPX

—

FMPFX

FIMPX

Nuveen

Small

Cap

Select

Fund

EMGRX

—

ASEFX

ARSTX

Nuveen

Small

Cap

Value

Fund

FSCAX

FSCVX

FSCWX

FSCCX

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you

receive

your

Nuveen

Fund

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statements

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your

financial

advisor

or

brokerage

account.

or

www.nuveen.com/client-access

If

you

receive

your

Nuveen

Fund

distributions

and

statements

directly

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Nuveen.

Must

be

preceded

by

or

accompanied

by

a

prospectus.

NOT

FDIC

INSURED

MAY

LOSE

VALUE

NO

BANK

GUARANTEE

Table

of

Contents

3

Chair’s

Letter

to

Shareholders

4

Portfolio

Managers’

Comments

5

Risk

Considerations

11

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries

12

Expense

Examples

33

Report

of

Independent

Registered

Public

Accounting

Firm

36

Portfolios

of

Investments

37

Statement

of

Assets

and

Liabilities

62

Statement

of

Operations

66

Statement

of

Changes

in

Net

Assets

68

Financial

Highlights

72

Notes

to

Financial

Statements

86

Important

Tax

Information

104

Additional

Fund

Information

105

Glossary

of

Terms

Used

in

this

Report

106

Liquidity

Risk

Management

Program

108

Annual

Investment

Management

Agreement

Approval

Process

109

Directors

and

Officers

117

4

Chair’s

Letter

to

Shareholders

Dear

Shareholders,

With

more

economic

indicators

pointing

to

a

broadening

contraction

across

the

world’s

economies,

the

conversation

has

shifted

from

debating

whether

a

global

recession

would

happen

to

considering

by

how

much

and

for

how

long.

Higher

than

expected

inflation

has

made

the

outcome

more

unpredictable,

as

it

has

dampened

consumer

sentiment,

pushed

central

banks

into

raising

interest

rates

more

aggressively

and

contributed

to

considerable

turbulence

in

the

markets

this

year.

Inflation

has

surged

partially

due

to

pandemic-related

supply

chain

bottlenecks,

exacerbated

by

Russia’s

war

in

Ukraine

and

recurring

lockdowns

across

China

to

contain

a

large-scale

COVID-19

outbreak.

This

has

necessitated

increasingly

forceful

responses

from

the

U.S.

Federal

Reserve

(Fed)

and

other

central

banks,

who

have

signaled

their

intentions

to

slow

inflation

while

tolerating

materially

slower

economic

growth

and

some

softening

in

the

labor

market.

As

anticipated,

the

Fed

began

the

rate

hiking

cycle

in

March

2022,

raising

its

short-

term

rate

by

0.25%

from

near

zero

for

the

first

time

since

the

pandemic

was

declared

more

than

two

years

ago.

Larger

increases

of

0.50%

in

May,

four

increases

of

0.75%

during

the

summer

and

fall,

and

another

0.50%

hike

in

December

2022

followed,

bringing

the

target

fed

funds

rate

to

a

range

of

4.25%

to

4.50%.

Additional

rate

hikes

are

expected

in

2023,

as

Fed

officials

closely

monitor

inflation

data

along

with

other

economic

measures

and

will

modify

their

rate

setting

policy

based

upon

these

factors.

After

contracting

in

the

first

half

of

2022,

U.S.

gross

domestic

product

resumed

positive

growth

in

the

third

quarter,

according

to

the

government’s

estimates.

The

recent

strength

was

largely

attributed

to

a

narrowing

in

the

trade

deficit

while

consumer

and

business

activity

has

remained

slower

in

part

due

to

higher

prices

and

borrowing

costs.

The

sharp

increase

in

the

U.S.

dollar’s

value

relative

to

other

currencies

in

2022

has

added

further

uncertainty

to

the

economic

outlook.

However,

the

still

strong

labor

market

suggests

not

all

areas

of

the

economy

are

weakening

in

unison.

While

markets

will

likely

continue

fluctuating

with

the

daily

headlines,

we

encourage

investors

to

keep

a

long-term

perspective.

To

learn

more

about

how

well

your

portfolio

is

aligned

to

your

time

horizon,

risk

tolerance

and

investment

goals,

consider

reviewing

it

with

your

financial

professional.

On

behalf

of

the

other

members

of

the

Nuveen

Fund

Board,

we

look

forward

to

continuing

to

earn

your

trust

in

the

months

and

years

ahead.

Terence

J.

Toth

Chair

of

the

Board

December

22,

2022

Portfolio

Managers’

Comments

5

Nuveen

Dividend

Value

Fund

Nuveen

Large

Cap

Select

Fund

Nuveen

Mid

Cap

Growth

Opportunities

Fund

Nuveen

Mid

Cap

Value

Fund

Nuveen

Small

Cap

Growth

Opportunities

Fund

Nuveen

Small

Cap

Select

Fund

Nuveen

Small

Cap

Value

Fund

These

Funds

feature

portfolio

management

by

Nuveen

Asset

Management,

LLC

(NAM),

an

affiliate

of

Nuveen

Fund

Advisors,

LLC,

the

Funds’

investment

adviser.

David

Chalupnik,

CFA,

and

Evan

Staples,

CFA,

manage

the

Nuveen

Dividend

Value

Fund

and

Nuveen

Large

Cap

Select

Fund.

Gregory

Ryan,

CFA,

and

Bihag

Patel,

CFA,

manage

the

Nuveen

Mid

Cap

Growth

Opportunities

Fund.

Karen

Bowie,

CFA,

manages

the

Nuveen

Mid

Cap

Value

Fund.

Jon

Loth,

CFA,

manages

the

Nuveen

Small

Cap

Growth

Opportunities

Fund.

Gregory

Ryan,

CFA,

and

Jon

Loth,

CFA,

manage

the

Nuveen

Small

Cap

Select

Fund.

Karen

Bowie,

CFA,

and

David

Johnson,

CFA,

manage

the

Nuveen

Small

Cap

Value

Fund.

Here

the

portfolio

management

teams

discuss

U.S.

economic

and

market

conditions,

key

investment

strategies

and

the

performance

of

the

Funds

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

more

information

on

each

Fund’s

investment

objectives

and

policies,

please

refer

to

each

Fund’s

prospectus.

What

factors

affected

the

U.S.

economy

and

financial

markets

during

the

twelve-month

reporting

period

ended

October

31,

2022?

After

recovering

from

the

pandemic

in

2021,

the

U.S.

economy

weakened

in

2022.

Overall,

2021

gross

domestic

product

(GDP)

grew

by

5.7%

as

the

economy

reopened

with

the

help

of

$5.3

trillion

in

crisis-related

aid

from

the

federal

government,

low

borrowing

rates

for

businesses

and

individuals,

an

increase

in

COVID-19

vaccinations

and

improved

treatments

for

COVID-19.

However,

in

early

2022,

China’s

COVID-19

lockdown

and

the

Russia-Ukraine

war

worsened

existing

pandemic-related

supply

chain

disruptions.

Inflation

increased

more

than

expected

over

much

of

2022,

putting

pressure

on

global

central

banks

to

respond

with

more

aggressive

measures.

The

U.S.

Federal

Reserve

(Fed)

began

an

interest

rate

hiking

cycle

in

March

2022,

raising

its

short-term

rate

by

0.25%

from

near

zero

for

the

first

time

since

the

pandemic

was

declared

more

than

two

years

ago.

Larger

increases

of

0.50%

in

May

2022,

three

increases

of

0.75%

during

the

summer

and

fall,

and

additional

hikes

of

0.75%

in

November

2022

and

0.50%

in

December

2022

(subsequent

to

the

end

of

the

reporting

period)

followed,

bringing

the

target

fed

funds

rate

to

a

range

of

4.25%

to

4.50%.

Volatility

increased

as

markets

considered

whether

the

Fed

could

cool

inflation

without

causing

a

recession.

Additionally,

the

U.S.

dollar

appreciated

significantly

relative

to

major

world

currencies,

accelerating

in

March

2022,

serving

as

a

headwind

to

the

profits

of

international

companies

and

U.S.

domestic

companies

with

overseas

earnings.

The

dollar’s

appreciation

was

driven

in

part

by

the

Fed’s

increasingly

forceful

response

to

inflation

compared

with

other

central

banks,

the

relatively

better

prospects

of

the

U.S.

economy

and

“safe-haven”

flows

from

investors

uncertain

about

geopolitical

and

global

economic

conditions.

In

September

2022,

global

currency

and

bond

markets

sold

off

sharply

on

concerns

about

the

U.K.’s

new

fiscal

spending

plan,

but

recovered

in

October

2022

after

the

plan

was

mostly

withdrawn

and

a

new

prime

minster

was

announced.

By

mid-year

2022,

inflation

and

higher

borrowing

costs

appeared

to

be

dampening

consumer

confidence

and

consumer

spending.

U.S.

GDP

contracted

in

the

first

half

of

2022,

falling

by

an

annual

rate

of

1.6%

and

0.6%

in

the

first

and

second

quarters

of

2022,

respectively,

according

to

the

U.S.

Bureau

of

Economic

Analysis.

However,

the

labor

market,

another

key

gauge

of

the

economy’s

health,

has

remained

resilient.

By

July

2022,

the

economy

had

recovered

the

22

million

jobs

lost

since

the

beginning

of

the

pandemic,

and

as

of

October

2022,

the

unemployment

rate

remained

near

its

pre-pandemic

low

at

3.7%.

U.S.

GDP

returned

to

expansion

in

the

third

quarter

of

2022,

growing

by

2.9%

(annualized)

according

to

the

government’s

second

estimate,

but

the

gains

were

primarily

related

to

trade

balance

adjustments.

Nuveen

Dividend

Value

Fund

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Fund

seeks

to

provide

long-term

growth

of

capital

and

income

by

investing

primarily

in

a

diversified

portfolio

of

high-conviction,

dividend-paying

stocks

and

employing

a

long-term

approach

with

a

typical

investment

horizon

of

at

least

two

to

three

years.

The

Fund

attempts

to

maintain

a

dividend

that

will

grow

over

time.

As

a

result,

higher

yielding

equity

securities

will

generally

represent

Portfolio

Managers’

Comments

(continued)

6

the

core

holdings

of

the

Fund.

However,

the

Fund

also

may

invest

in

lower

yielding,

higher-growth

equity

securities

if

the

portfolio

management

team

believes

they

will

help

balance

the

portfolio.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Nuveen

Dividend

Value

Fund’s

Class

A

Shares

at

NAV

outperformed

the

Russell

1000®

Value

Index

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

Russell

1000®

Value

Index.

Strong

security

selection

drove

the

majority

of

the

Fund’s

outperformance

versus

the

benchmark

during

the

reporting

period,

along

with

a

modest

positive

impact

from

sector

allocations.

Stock

selection

contributed

across

seven

of

the

11

sectors,

particularly

among

the

Fund’s

health

care,

financials

and

industrials

holdings.

Overall,

health

care

was

the

greatest

source

of

strength

for

the

Fund

because

of

its

focus

on

managed

care

companies,

such

as

top

contributor

Cigna

Corp.

The

company’s

quarterly

earnings

exceeded

expectations

with

strong

performance

in

membership,

medical

loss

ratio

and

investment

income.

The

Fund

continues

to

hold

Cigna.

In

the

financials

sector,

the

Fund

added

a

position

in

LPL

Financial

Holdings

Inc.

after

the

stock

came

under

pressure

earlier

in

the

reporting

period.

Rising

interest

rates

and

solid

growth

in

net

new

assets

subsequently

provided

a

tailwind

for

the

shares

during

a

challenging

macro

environment.

LPL

Financial

ended

the

period

as

the

sector’s

top

performer.

The

Fund

maintains

a

position

in

LPL

Financial.

Performance

also

benefited

from

the

Fund’s

significant

underweight

in

communications

services,

the

weakest-performing

sector

during

the

period.

The

Fund

found

very

few

attractive

dividend-paying

opportunities

in

this

sector.

The

biggest

driver

was

the

Fund’s

lack

of

exposure

to

Meta

Platforms

Inc.,

which

was

added

to

the

benchmark

during

the

reporting

period.

The

Fund’s

outperformance

was

modestly

offset

by

a

slight

underweight

in

the

energy

sector,

which

was

the

strongest-performing

sector

in

the

index

during

the

reporting

period.

Although

a

position

in

exploration

and

production

firm

Pioneer

Natural

Resources

Company

was

the

Fund’s

largest

single

contributor

during

the

reporting

period,

lack

of

exposure

to

Exxon

Mobil

Corporation

and

Chevron

Corporation

was

the

biggest

drag

on

performance.

In

general,

shares

of

energy

companies

performed

strongly

as

oil

prices

reached

a

seven-year

high,

given

robust

demand

and

the

instability

caused

by

the

Russia-Ukraine

war.

However,

the

Fund

avoided

Exxon

Mobil

because

the

company

continues

to

use

near-term

excess

cash

to

pay

down

debt,

including

plans

to

moderate

dividends

and

share

buybacks

along

with

building

its

cash

balance.

Lack

of

exposure

to

Chevron

was

based

on

the

company’s

shares

trading

at

a

noticeable

premium

to

peers.

Nuveen

Large

Cap

Select

Fund

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Fund’s

investment

objective

seeks

long-term

capital

appreciation.

The

Fund

invests

primarily

in

a

diversified,

large-cap

core

stock

portfolio

of

both

growth

and

value

companies.

The

portfolio

management

team

will

select

companies

based

on

a

combination

of

value

and

growth

objectives,

seeking

companies

that

meet

criteria

such

as

attractive

valuation

relative

to

other

companies

in

the

same

industry

or

market,

strong

or

improving

fundamentals,

strong

competitive

position,

and

an

identifiable

catalyst

that

could

increase

the

value

of

the

company’s

stock

within

two

years.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Nuveen

Large

Cap

Select

Fund’s

Class

A

Shares

at

NAV

underperformed

the

S&P

500®

Index

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

S&P

500®

Index.

The

Fund’s

underperformance

versus

the

benchmark

primarily

resulted

from

security

selection,

particularly

in

the

consumer

discretionary,

information

technology,

and

materials

sectors.

In

the

consumer

discretionary

sector,

shares

of

athletic

apparel

retailer

Under

Armour

Inc.

declined

after

the

company

reported

sales

below

estimates

and

an

unexpected

loss

resulting

from

global

supply

chain

issues

and

Covid-related

lockdowns

in

China.

The

Fund

no

longer

holds

Under

Armour.

In

the

technology

sector,

the

Fund’s

underweight

position

in

Apple

Inc.,

detracted

from

relative

performance.

Apple

Inc.

shares

reached

an

all-time

high

in

December

2021

before

selling

off

later

in

the

reporting

period

following

weaker-than-expected

sales

of

its

latest

iPhone.

The

Fund

maintains

underweight

exposure

to

Apple

because

of

the

company’s

large

weighting

in

the

index.

Also,

the

Fund’s

lack

of

exposure

to

Exxon

Mobil

Corporation

and

Chevron

Corporation

hindered

results

in

the

energy

sector,

more

than

offsetting

strong

performance

from

a

position

in

Pioneer

Natural

Resources

Company.

Shares

of

most

energy

companies

advanced

strongly

as

oil

prices

reached

a

seven-

year

high,

given

robust

demand

and

the

instability

caused

by

the

Russia-Ukraine

war.

The

Fund

avoided

Exxon

Mobil

because

the

company

continues

to

use

near-term

excess

cash

to

pay

down

debt,

including

plans

to

moderate

dividends

and

share

buybacks

7

along

with

building

its

cash

balance.

Lack

of

exposure

to

Chevron

was

based

on

the

company’s

shares

trading

at

a

noticeable

premium

to

peers.

The

Fund’s

underperformance

was

partially

offset

by

favorable

sector

allocations,

most

notably

an

underweight

in

communications

services,

the

weakest-performing

sector

during

the

period.

Security

selection

in

the

health

care

and

financials

sectors

was

also

a

source

of

strength

for

the

Fund.

In

the

health

care

sector,

Cigna

Corp.

was

a

top

contributor.

The

company’s

quarterly

earnings

exceeded

expectations

with

strong

performance

in

membership,

medical

loss

ratio

and

investment

income.

The

Fund

continues

to

hold

Cigna.

In

the

financials

sector,

the

Fund

added

a

position

in

LPL

Financial

Holdings

Inc.

after

the

stock

came

under

pressure

earlier

in

the

reporting

period.

Rising

interest

rates

and

solid

growth

in

net

new

assets

subsequently

provided

a

tailwind

for

the

shares

during

a

challenging

macro

environment.

LPL

Financial

ended

the

period

as

the

sector’s

top

performer.

The

Fund

maintains

a

position

in

LPL

Financial.

Nuveen

Mid

Cap

Growth

Opportunities

Fund

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Fund’s

investment

objective

seeks

long-term

capital

appreciation.

The

Fund

invests

primarily

in

a

diversified,

mid-cap

growth

stock

portfolio

and

using

a

traditional

growth

strategy

that

seeks

to

invest

in

quality

companies

with

sustainable

earnings

growth

over

the

long

term.

In

selecting

stocks,

the

Fund’s

portfolio

management

team

invests

in

companies

that

it

believes

exhibit

the

potential

for

superior

growth

based

on

factors

such

as

above-average

growth

in

revenue

and

earnings,

strong

competitive

position,

strong

management

and

sound

financial

condition.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Nuveen

Mid

Cap

Growth

Opportunities

Fund’s

Class

A

Shares

at

NAV

significantly

underperformed

the

Russell

Midcap®

Growth

Index

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

Russell

Midcap®

Growth

Index.

The

Fund’s

underperformance

versus

the

benchmark

was

the

result

of

unfavorable

security

selection,

particularly

in

the

information

technology,

consumer

discretionary

and

health

care

sectors.

In

the

information

technology

sector,

software

provider

Avalara

Inc.

detracted.

Despite

strong

fundamentals,

the

company’s

shares

sold

off

as

rapidly

rising

interest

rates

drove

widespread

underperformance

across

high-growth

technology

stocks,

particularly

Covid

beneficiaries

like

Avalara.

The

Fund

no

longer

holds

Avalara.

In

the

consumer

discretionary

sector,

the

Fund

experienced

weak

performance

from

YETI

Holdings

Inc.,

a

premium

outdoor

lifestyle

brand.

The

company

has

been

negatively

impacted

in

2022

by

supply

chain

constraints

and

higher-than-anticipated

freight

costs.

Given

the

higher

price

point

and

discretionary

nature

of

YETI’s

products

during

an

uncertain

consumer

macro

environment,

the

Fund

exited

the

position

at

the

end

of

the

reporting

period.

The

Fund’s

most

significant

laggard

was

manufacturing

company

Generac

Holdings

Inc.

Demand

for

the

company’s

products

has

been

negatively

impacted

by

the

housing

market

slowdown.

Given

the

uncertainty

around

the

housing

market

and

expectations

that

new

home

starts

could

fall

in

2023,

the

Fund

exited

its

position

in

Generac

Holdings.

The

Fund’s

underperformance

was

partially

offset

by

favorable

sector

allocations,

led

by

an

overweight

in

the

energy

sector,

which

was

the

strongest-performing

sector

in

the

index

during

the

reporting

period.

Rising

oil

prices,

a

challenging

supply

and

demand

dynamic

and

geopolitical

tensions

drove

widespread

investor

demand

for

energy

stocks,

an

area

that

is

often

neglected

by

growth-oriented

investors.

The

Fund’s

top

performer

was

independent

oil

and

gas

exploration

and

production

firm

Pioneer

Natural

Resources

Company,

which

reported

strong

free

cash

flow

and

quarterly

results

that

topped

expectations.

Pioneer

management

also

reinforced

its

capital

return

messaging

with

large

dividend

increases

and

plans

to

use

excess

cash

flow

for

share

buybacks.

The

Fund

continues

to

hold

Pioneer

Natural

Resources

Company.

Nuveen

Mid

Cap

Value

Fund

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Fund’s

investment

objective

seeks

long-term

capital

appreciation.

The

Fund

invests

in

mid-capitalization

equity

securities

of

undervalued

companies,

with

identifiable

catalysts

to

improve

profitability

and

generate

attractive

risk-adjusted

returns,

selected

using

qualitative,

bottom-up

research.

Portfolio

Managers’

Comments

(continued)

8

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Nuveen

Mid

Cap

Value

Fund’s

Class

A

Shares

at

NAV

outperformed

the

Russell

Midcap®

Value

Index

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

Russell

Midcap®

Value

Index.

Strong

security

selection

and

favorable

sector

allocations

drove

the

Fund’s

outperformance

versus

the

benchmark

during

the

reporting

period.

Stock

selection

contributed

across

most

sectors,

particularly

among

the

Fund’s

health

care,

industrial,

information

technology

and

energy

holdings.

The

Fund

also

benefited

from

an

underweight

position

in

communication

services,

the

weakest-

performing

sector,

and

an

overweight

position

in

the

energy

sector,

which

was

by

far

the

strongest

performer

in

the

benchmark.

Several

individual

holdings

in

the

energy

sector

were

among

the

Fund’s

top

contributors

as

rising

oil

prices,

a

challenging

supply

and

demand

dynamic

and

geopolitical

tensions

drove

widespread

investor

demand

for

energy

stocks.

Two

exploration

and

production

companies,

Devon

Energy

Corporation

and

Pioneer

Natural

Resources

Company,

reported

strong

free

cash

flow

and

quarterly

results

that

topped

expectations.

Following

the

favorable

results,

the

Fund

sold

Pioneer

Natural

Resources

during

the

reporting

period

and

trimmed

its

exposure

to

Devon

Energy.

In

the

health

care

sector,

shares

of

biotechnology

firm

United

Therapeutics

Corporation

rallied

in

May

2022

following

the

U.S.

Food

and

Drug

Administration’s

approval

of

Tyvaso

DPI,

a

dry

powder

inhaler;

this

new

treatment

for

pulmonary

hypertension

expands

the

company’s

product

portfolio

and

addressable

market.

The

Fund

continues

to

maintain

its

position

in

United

Therapeutics

and

increased

exposure

during

the

reporting

period.

The

Fund’s

outperformance

was

modestly

offset

by

negative

security

selection

and

an

underweight

position

in

the

consumer

staples

sector

during

the

reporting

period.

Shares

of

home

and

consumer

products

company

Spectrum

Brands

Holdings,

Inc.

detracted

after

its

planned

deal

to

sell

its

Hardware

and

Home

Improvement

segment

to

Swedish

company

ASSA

ABLOY

was

blocked

by

the

Department

of

Justice.

Third-quarter

2022

results

also

missed

expectations

and

Spectrum

Brands

management

lowered

guidance

because

of

the

near-term

macroeconomic

backdrop.

Given

the

lack

of

near-term

catalysts

and

deteriorating

fundamentals,

the

Fund

sold

its

position

in

Spectrum

Brands

in

September

2022.

Nuveen

Small

Cap

Growth

Opportunities

Fund

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Fund’s

investment

objective

seeks

long-term

growth

of

capital.

The

Fund

invests

primarily

in

a

diversified,

small-cap

growth

stock

portfolio

that

employs

a

traditional

growth

strategy

and

focuses

on

companies

that

it

believes

exhibit

the

potential

for

superior

growth

based

on

factors

such

as

above-average

growth

in

revenue

and

earnings,

strong

competitive

position,

strong

management,

and

sound

financial

condition.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Nuveen

Small

Cap

Growth

Opportunities

Fund’s

Class

A

Shares

at

NAV

underperformed

the

Russell

2000®

Growth

Index

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

Russell

2000®

Growth

Index.

The

Fund’s

underperformance

versus

the

benchmark

was

driven

by

unfavorable

security

selection,

primarily

in

the

consumer

discretionary,

communication

services

and

information

technology

sectors.

In

the

communication

services

sector,

performance

was

hindered

by

digital

advertising

holding

Magnite,

Inc.

Shares

were

weighed

down

by

broader

industry

news,

including

declining

digital

ad

spending,

particularly

in

Europe.

Additionally,

a

partnership

between

Netflix

and

Microsoft

weighed

on

pure-play

firms

like

Magnite

while

weak

earnings

from

Snap

were

viewed

as

a

warning

for

the

broader

digital

ad

industry.

The

Fund

continues

to

hold

shares

of

Magnite

given

the

company’s

strong

competitive

position

in

the

digital

ad

space

and

the

stock’s

compelling

valuation.

In

the

consumer

discretionary

sector,

shares

of

Crocs

Inc.

detracted

from

relative

performance.

The

company

acquired

privately

owned,

casual

footwear

brand

HEYDUDE

in

a

$2.5

billion

acquisition

that

included

the

issuance

of

$450

million

in

stock. The

overhang

of

the

newly

issued

shares,

combined

with

deceleration

in

North

American

growth

and

threat

of

margin

pressure

from

rising

inflation,

led

the

Fund

to

close

out

the

position

in

Crocs.

Although

the

health

care

sector

contributed

to

performance

overall,

the

Fund’s

most

significant

detractor

was

BioLife

Solutions

Inc.,

a

biotechnology

tools

and

solutions

provider.

The

company’s

acquisition

of

Stirling

Ultracold’s

deep

freezer

business

pressured

the

stock

given

supply

chain

issues

and

rising

raw

material

costs. The

Fund

sold

its

position

in

BioLife

Solutions

as

rising

interest

rates

continued

to

pressure

higher

growth

companies

across

the

sector.

The

Fund’s

underperformance

was

partially

offset

by

favorable

sector

allocations,

led

by

an

underweight

in

the

health

care

sector,

and

strong

security

selection

in

the

financials

and

health

care

sectors.

The

Fund’s

top

performer

was

Matador

Resources

Company,

a

high-quality

oil

producer

in

the

Permian

Basin

of

Texas.

Rising

oil

prices,

a

challenging

supply

and

demand

dynamic

and

geopolitical

9

tensions

drove

widespread

investor

demand

for

energy

stocks.

Matador’s

shares

also

benefited

from

the

company’s

capital

expenditure

discipline

and

prospects

for

free

cash

flow

generation.

The

Fund

continues

to

hold

Matador

Resources.

Nuveen

Small

Cap

Select

Fund

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Fund’s

investment

objective

seeks

long-term

capital

appreciation.

The

Fund

invests

primarily

in

a

diversified,

small-cap

stock

portfolio.

In

selecting

stocks,

the

Fund’s

portfolio

management

team

invests

in

companies

that

meet

criteria

such

as

attractive

valuation

relative

to

other

companies

in

the

same

industry

or

market,

strong

or

improving

fundamentals,

and

an

identifiable

catalyst

that

could

increase

the

value

of

the

company’s

stock

within

two

years.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Nuveen

Small

Cap

Select

Fund’s

Class

A

Shares

at

NAV

outperformed

the

Russell

2000®

Index

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

Russell

2000®

Index.

Strong

security

selection

and

favorable

sector

allocations

drove

the

Fund’s

outperformance

versus

the

index

during

the

reporting

period.

Stock

selection

contributed

across

most

sectors,

particularly

among

the

Fund’s

health

care,

consumer

staples,

and

information

technology

sector

holdings.

Several

individual

energy

holdings

were

among

the

Fund’s

top

contributors

to

relative

performance

as

rising

oil

prices,

the

challenging

supply

and

demand

dynamic,

and

geopolitical

tensions

drove

widespread

investor

demand

for

energy

stocks.

Shares

of

Northern

Oil

and

Gas

Inc.

advanced

more

than

the

overall

sector

based

on

several

positive

operating

updates

during

the

reporting

period

and

the

simplification

of

its

capital

structure.

As

a

result,

the

Fund

continues

to

hold

Northern

Oil

and

Gas.

Shares

of

defensively

oriented

consumer

staples

companies

also

fared

comparatively

better

during

the

reporting

period.

In

the

distilled

beverages

category,

shares

of

MGP

Ingredients

Inc.

performed

well

as

demand

remained

robust.

The

Fund

continues

to

maintain

its

holding

in

MGP

Ingredients.

In

the

financial

sector,

shares

of

bank

holding

company

Banner

Corp.

advanced

as

the

company

continued

to

successfully

implement

its

cost

savings

plan

and

execute

better

than

the

broader

regional

bank

group

and

the

overall

market

during

a

difficult

period.

Banner,

which

maintains

an

asset-sensitive

loan

and

investment

portfolio

with

a

stable

deposit

base,

benefited

from

a

rising

interest

rate

environment

that

led

to

net

interest

margin

expansion.

The

Fund

continues

to

maintain

its

exposure

to

Banner.

The

Fund’s

outperformance

was

partially

offset

by

negative

security

selection

in

the

communication

services

and

real

estate

sectors.

Fund

performance

was

hindered

by

digital

advertising

holding

Magnite,

Inc.

Shares

of

Magnite

were

pressured

by

broader

industry

news,

including

softening

digital

ad

spending,

particularly

in

Europe.

Additionally,

a

partnership

between

Netflix

and

Microsoft

weighed

on

pure-play

firms

like

Magnite

while

weak

earnings

from

Snap

were

viewed

as

a

warning

for

the

broader

digital

ad

industry.

The

Fund

continued

to

hold

shares

in

Magnite

given

the

company’s

strong

cash

flow

profile,

competitive

position

in

the

digital

ad

space

and

the

stock’s

compelling

valuation.

Nuveen

Small

Cap

Value

Fund

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Fund’s

investment

objective

seeks

long-term

capital

appreciation.

The

Fund

invests

primarily

in

small-cap

equities

across

the

value

spectrum.

The

portfolio

management

team

identifies

three

value

styles

to

collect

the

best

investment

ideas

among

industry

leaders,

buying

discounted

companies

when

a

change

is

expected

that

can

result

in

a

stock

price

increase.

This

well-defined

approach

helps

create

a

high-conviction

portfolio

that

seeks

to

provide

capital

appreciation

potential.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

October

31,

2022?

The

Nuveen

Small

Cap

Value

Fund’s

Class

A

Shares

at

NAV

significantly

outperformed

the

Russell

2000®

Value

Index

for

the

twelve-month

reporting

period

ended

October

31,

2022.

For

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

Russell

2000®

Value

Index.

Strong

security

selection

and

favorable

sector

allocations

drove

the

Fund’s

outperformance

versus

the

benchmark

during

the

reporting

period.

Stock

selection

was

particularly

strong

among

the

Fund’s

health

care,

financials

and

materials

sector

holdings.

The

Fund

also

benefited

from

underweight

positions

in

the

two

weakest-performing

sectors

in

the

index,

the

communication

services

Portfolio

Managers’

Comments

(continued)

10

and

health

care

sectors.

Individual

energy

holdings

were

among

the

Fund’s

strongest

performers,

as

the

sector

continued

to

rally

based

on

higher

crude

oil

and

natural

gas

prices

during

the

reporting

period.

Brigham

Minerals

Inc.,

a

leading

U.S.

owner

of

oil

and

gas

mineral

rights,

performed

well.

A

strong

production

profile

led

to

an

increasing

royalty

stream,

enabling

the

company

to

raise

its

dividend

payouts

to

shareholders

while

investing

in

organic

growth

opportunities.

In

September

2022,

Brigham

Minerals

announced

a

stock-for-stock

merger

with

another

leading

public

mineral

rights

company,

Sitio

Royalties

Corporation,

which

is

expected

to

close

in

the

first

quarter

of

2023.

The

Fund

continues

to

hold

Brigham

Minerals.

Shares

of

bank

holding

company

Banner

Corp.

advanced

as

the

company

continued

to

execute

better

than

the

broader

regional

bank

group

and

the

overall

market

during

a

difficult

period.

Banner,

which

maintains

an

asset-sensitive

loan

and

investment

portfolio

with

a

stable

deposit

base,

benefited

from

the

rising

interest

rate

environment

that

led

to

net

interest

margin

expansion. The

Fund

continues

to

hold

Banner.

The

Fund’s

outperformance

was

modestly

offset

by

negative

security

selection

in

the

real

estate

and

information

technology

sectors.

In

the

technology

sector,

the

Fund

experienced

weak

performance

from

business

communications

solutions

company

Avaya

Holdings

Corp.

The

company

continued

to

experience

challenges

as

it

transitions

to

a

reoccurring

subscription-based

model.

Given

the

impact

that

transition

delays

have

on

free

cash

flow,

the

Fund

no

longer

maintains

exposure

to

Avaya.

This

material

is

not

intended

to

be

a

recommendation

or

investment

advice,

does

not

constitute

a

solicitation

to

buy,

sell

or

hold

a

security

or

an

investment

strategy,

and

is

not

provided

in

a

fiduciary

capacity.

The

information

provided

does

not

take

into

account

the

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor’s

objectives

and

circumstances

and

in

consultation

with

his

or

her

advisors.

Certain

statements

in

this

report

are

forward-looking

statements.

Discussions

of

specific

investments

are

for

illustration

only

and

are

not

intended

as

recommendations

of

individual

investments.

The

forward-looking

statements

and

other

views

expressed

herein

are

those

of

the

portfolio

managers

as

of

the

date

of

this

report.

Actual

future

results

or

occurrences

may

differ

significantly

from

those

anticipated

in

any

forward-looking

statements

and

the

views

expressed

herein

are

subject

to

change

at

any

time,

due

to

numerous

market

and

other

factors.

The

Funds

disclaim

any

obligation

to

update

publicly

or

revise

any

forward-looking

statements

or

views

expressed

herein.

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

the

terms

used

within

this

section.

Risk

Considerations

11

Risk

Considerations

Nuveen

Dividend

Value

Fund

Mutual

fund

investing

involves

risk;

principal

loss

is

possible.

There

is

no

guarantee

the

Fund’s

investment

objectives

will

be

achieved.

Dividends

are

not

guaranteed.

Prices

of

equity

securities

may

decline

significantly

over

short

or

extended

periods

of

time.

Non-U.S.

investments

involve

risks

such

as

currency

fluctuation,

political

and

economic

instability,

lack

of

liquidity

and

differing

legal

and

accounting

standards.

These

risks

are

magnified

in

emerging

markets.

These

and

other

risk

considerations,

such

as

credit,

derivatives,

high

yield

securities,

and

interest

rate

risks,

are

described

in

detail

in

the

Fund’s

prospectus.

Nuveen

Large

Cap

Select

Fund

Mutual

fund

investing

involves

risk;

principal

loss

is

possible.

Equity

investments,

such

as

those

held

by

the

Fund,

are

subject

to

market

risk,

derivatives

risk,

and

common

stock

risk.

Foreign

investments

involve

additional

risks

including

currency

fluctuations,

political

and

economic

instability,

and

lack

of

liquidity.

These

risks

are

magnified

in

emerging

markets.

These

and

other

risk

considerations,

such

as

credit,

derivatives,

high

yield

securities,

and

interest

rate

risks,

are

described

in

detail

in

the

Fund’s

prospectus.

Nuveen

Mid

Cap

Growth

Opportunities

Fund

Mutual

fund

investing

involves

risk;

principal

loss

is

possible.

There

is

no

guarantee

that

the

Fund’s

investment

objectives

will

be

achieved.

Prices

of

equity

securities

may

decline

significantly

over

short

or

extended

periods

of

time.

Investments

in

mid-cap

companies

are

subject

to

greater

volatility

than

those

of

larger

companies,

but

may

be

less

volatile

than

investments

in

smaller

companies.

These

and

other

risk

considerations,

such

as

derivatives,

investment

focus

(growth

style),

and

non-U.S./emerging

markets

risks,

are

described

in

detail

in

the

Fund’s

prospectus.

Nuveen

Mid

Cap

Value

Fund

Mutual

fund

investing

involves

risk;

principal

loss

is

possible.

There

is

no

guarantee

the

Fund’s

investment

objectives

will

be

achieved.

Prices

of

equity

securities

may

decline

significantly

over

short

or

extended

periods

of

time.

Investments

in

mid-cap

companies

are

subject

to

greater

volatility

than

those

of

larger

companies,

but

may

be

less

volatile

than

investments

in

smaller

companies.

Non-U.S.

investments

involve

risks

such

as

currency

fluctuation,

political

and

economic

instability,

lack

of

liquidity

and

differing

legal

and

accounting

standards.

These

risks

are

magnified

in

emerging

markets.

These

and

other

risk

considerations,

such

as

derivatives

risk,

are

described

in

detail

in

the

Fund’s

prospectus.

Nuveen

Small

Cap

Growth

Opportunities

Mutual

fund

investing

involves

risk;

principal

loss

is

possible.

There

is

no

guarantee

that

the

Fund’s

investment

objectives

will

be

achieved.

Prices

of

equity

securities

may

decline

significantly

over

short

or

extended

periods

of

time.

Investments

in

smaller

companies

are

subject

to

greater

volatility

than

those

of

larger

companies.

These

and

other

risk

considerations,

such

as

derivatives,

investment

focus

(growth

style),

and

non-U.S./emerging

markets

risks,

are

described

in

detail

in

the

Fund’s

prospectus.

Nuveen

Small

Cap

Select

Fund

Mutual

fund

investing

involves

risk;

principal

loss

is

possible.

There

is

no

guarantee

the

Fund’s

investment

objectives

will

be

achieved.

Prices

of

equity

securities

may

decline

significantly

over

short

or

extended

periods

of

time.

Investments

in

smaller

companies

are

subject

to

greater

volatility

than

those

of

larger

companies.

Non-U.S.

investments

involve

risks

such

as

currency

fluctuation,

political

and

economic

instability,

lack

of

liquidity

and

differing

legal

and

accounting

standards.

These

risks

are

magnified

in

emerging

markets.

These

and

other

risk

considerations,

such

as

derivatives

and

growth

stock

risks,

are

described

in

the

Fund’s

prospectus.

Nuveen

Small

Cap

Value

Fund

Mutual

fund

investing

involves

risk;

principal

loss

is

possible.

There

is

no

guarantee

the

Fund’s

investment

objectives

will

be

achieved.

Prices

of

equity

securities

may

decline

significantly

over

short

or

extended

periods

of

time.

Investments

in

smaller

companies

are

subject

to

greater

volatility

than

those

of

larger

companies.

Non-U.S.

investments

involve

risks

such

as

currency

fluctuation,

political

and

economic

instability,

lack

of

liquidity

and

differing

legal

and

accounting

standards.

These

risks

are

magnified

in

emerging

markets.

These

and

other

risk

considerations,

such

as

derivatives

risk,

are

described

in

detail

in

the

Fund’s

prospectus.

12

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries

The

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries

for

each

Fund

are

shown

within

this

section

of

the

report.

Fund

Performance

Performance

data

shown

represents

past

performance

and

does

not

predict

or

guarantee

future

results.

Investment

returns

and

principal

value

will

fluctuate

so

that

when

shares

are

redeemed,

they

may

be

worth

more

or

less

than

their

original

cost.

Current

performance

may

be

higher

or

lower

than

the

performance

shown.

Total

returns

for

a

period

of

less

than

one

year

are

not

annualized

(i.e.

cumulative

returns).

Since

inception

returns

are

shown

for

share

classes

that

have

less

than

10-years

of

performance.

Returns

at

net

asset

value

(NAV)

would

be

lower

if

the

sales

charge

were

included.

Returns

assume

reinvestment

of

dividends

and

capital

gains.

For

performance,

current

to

the

most

recent

month-end

visit

Nuveen.com

or

call

(800)

257-8787.

Returns

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

Fund

distributions

or

the

redemption

of

Fund

shares.

Returns

may

reflect

fee

waivers

and/or

expense

reimbursements

by

the

investment

adviser

during

the

periods

presented.

If

any

such

waivers

and/or

reimbursements

had

not

been

in

place,

returns

would

have

been

reduced.

See

Notes

to

Financial

Statements,

Note

7—Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

Returns

reflect

differences

in

sales

charges

and

expenses,

which

are

primarily

differences

in

distribution

and

service

fees,

and

assume

reinvestment

of

dividends

and

capital

gains.

Comparative

index

and

Lipper

return

information

is

provided

for

Class

A

Shares

at

NAV

only.

Expense

Ratios

The

expense

ratios

shown

are

as

of

the

Fund’s

most

recent

prospectus.

The

expense

ratios

shown

reflect

total

operating

expenses

(before

fee

waivers

and/or

expense

reimbursements,

if

any).

The

expense

ratios

include

management

fees

and

other

fees

and

expenses.

Refer

to

the

Financial

Highlights

later

in

this

report

for

the

Fund’s

expense

ratios

as

of

the

end

of

the

reporting

period.

Holdings

Summaries

The

Holdings

Summaries

data

relates

to

the

securities

held

in

each

Fund’s

portfolio

of

investments

as

of

the

end

of

this

reporting

period.

It

should

not

be

construed

as

a

measure

of

performance

for

the

Fund

itself.

Holdings

are

subject

to

change.

Refer

to

the

Fund’s

Portfolio

of

Investments

for

individual

security

information. 

Nuveen

Dividend

Value

Fund

(continued)

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

13

Refer

to

the

first

page

of

this

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries section

for

further

expla-

nation

of the

information

included

within

this

section. 

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

terms

used

in

this

section.

Fund

Performance

and

Expense

Ratios*

*

For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

Russell

1000®

Value

Index.

**

Class

A

Shares

have

a

maximum

5.75%

sales

charge

(Offering

Price).

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(CDSC)

of

1%

if

redeemed

within

eighteen

months

of

purchase.

Class

C

Shares

have

a

1%

CDSC

for

redemptions

within

less

than

twelve

months,

which

is

reflected

in

the

maximum

Offering

Price

total

returns

presented

for

less

than

1-Year,

when

and

where

applicable.

Class

C

Shares

automatically

convert

to

Class

A

Shares eight

years

after

purchase.

Returns

for

periods

longer

than

eight

years

for

Class

C

Shares

reflect

the

performance

of

Class

A

Shares

after

the

deemed

eight-year

conversion

to

Class

A

Shares

within

such

periods.

Class

R6

Shares

have

no

sales

charge

and

are

available

only

to

certain

limited

categories

of

investors

as

described

in

the

prospectus.

Class

I

Shares

have

no

sales

charge

and

may

be

purchased

under

limited

circumstances

or

by

specified

classes

of

investors.

***

The

Fund’s

investment

adviser

has

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

through

July

31,

2024

so

that

the

total

annual

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

0.74%

of

the

average

daily

net

assets

of

any

class

of

Fund

Shares.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

operating

expenses

for

the

Class

R6

Shares

will

be

less

than

the

expense

limitation.

This

expense

limitation

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board

of Directors

of

the

Fund.

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

10-Year

Gross

Net

Class

A

Shares

at

NAV

12/18/92

(3.00)%

6.27%

9.25%

1.00%

0.96%

Class

A

Shares

at

maximum

Offering

Price

12/18/92

(8.56)%

5.02%

8.61%

–

—

Russell

1000®

Value

Index

—

(7.00)%

7.21%

10.30%

—

—

Lipper

Equity

Income

Funds

Classification

Average

—

(5.97)%

7.43%

9.74%

—

—

Class

C

Shares

at

NAV

2/01/99

(3.72)%

5.48%

8.62%

1.75%

1.71%

Class

C

Shares

at

maximum

Offering

Price

2/01/99

(3.72)%

5.48%

8.62%

—

–

Class

I

Shares

8/02/94

(2.75)%

6.55%

9.52%

0.75%

0.71%

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

Since

Inception

Gross

Net

Class

R6

Shares

2/28/13

(2.65)%

6.68%

9.11%

0.64%

0.60%

14

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

(continued)

Growth

of

an

Assumed

$10,000

Investment

as

of October

31,

2022

 -

Class

A

Shares 

The

graphs

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

may

pay

on

Fund

distributions

or

the

redemption

of

Fund

Shares.

15

Holdings

Summaries

as

of

October

31,

2022

Fund

Allocation

(%

of

net

assets)

Common

Stocks

99

.2‌

%

Other

Assets

Less

Liabilities

0.8%

Net

Assets

100‌

%

Portfolio

Composition

1

(%

of

net

assets)

Capital

Markets

10.1%

Oil,

Gas

&

Consumable

Fuels

9.3%

Equity

Real

Estate

Investment

Trusts

(REITs)

7.2%

Banks

7.2%

Health

Care

Providers

&

Services

6.5%

Semiconductors

&

Semiconductor

Equipment

4.7%

Software

4.0%

Biotechnology

3.9%

IT

Services

3.8%

Specialty

Retail

3.7%

Electric

Utilities

3.5%

Machinery

3.2%

Chemicals

3.2%

Health

Care

Equipment

&

Supplies

3.2%

Insurance

2.7%

Electrical

Equipment

2.5%

Building

Products

2.5%

Diversified

Telecommunication

Services

2.3%

Hotels,

Restaurants

&

Leisure

2.1%

Aerospace

&

Defense

1.8%

Other

11.8%

Other

Assets

Less

Liabilities

0.8%

Net

Assets

100%

Top

Five

Common

Stock

Holdings

(%

of

net

assets)

Bank

of

America

Corp

2.7%

Morgan

Stanley

2.6%

Charles

Schwab

Corp

2.5%

ConocoPhillips

2.4%

Gilead

Sciences

Inc

2.4%

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

16

Nuveen

Large

Cap

Select

Fund

(continued)

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

Refer

to

the

first

page

of

this

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries section

for

further

expla-

nation

of the

information

included

within

this

section. 

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

terms

used

in

this

section.

Fund

Performance

and

Expense

Ratios*

*

For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

500®

Index.

**

Class

A

Shares

have

a

maximum

5.75%

sales

charge

(Offering

Price).

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(CDSC)

of

1%

if

redeemed

within

eighteen

months

of

purchase.

Class

C

Shares

have

a

1%

CDSC

for

redemptions

within

less

than

twelve

months,

which

is

reflected

in

the

maximum

Offering

Price

total

returns

presented

for

less

than

1-Year,

when

and

where

applicable.

Class

C

Shares

automatically

convert

to

Class

A

Shares

eight

years

after

purchase.

Returns

for

periods

longer

than

eight

years

for

Class

C

Shares

reflect

the

performance

of

Class

A

Shares

after

the

deemed

eight-year

conversion

to

Class

A

Shares

within

such

periods.

 Class

I

Shares

have

no

sales

charge

and

may

be

purchased

under

limited

circumstances

or

by

specified

classes

of

investors.

***

The

Fund’s

investment

adviser

has

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

through

July

31,

2024

so

that

the

total

annual

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

0.80%

of

the

average

daily

net

assets

of

any

class

of

Fund

Shares.

This

expense

limitation

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board

of Directors

of

the

Fund.

Growth

of

an

Assumed

$10,000

Investment

as

of October

31,

2022

 -

Class

A

Shares 

The

graphs

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

may

pay

on

Fund

distributions

or

the

redemption

of

Fund

Shares.

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

10-Year

Gross

Net

Class

A

Shares

at

NAV

1/31/03

(15.56)%

8.16%

11.93%

1.29%

1.05%

Class

A

Shares

at

maximum

Offering

Price

1/31/03

(20.42)%

6.89%

11.27%

–

—

S&P

500®

Index

—

(14.61)%

10.44%

12.79%

—

—

Lipper

Large-Cap

Core

Funds

Classification

Average

—

(15.82)%

9.44%

11.69%

—

—

Class

C

Shares

at

NAV

1/31/03

(16.18)%

7.35%

11.26%

2.04%

1.80%

Class

C

Shares

at

maximum

Offering

Price

1/31/03

(16.18)%

7.35%

11.26%

—

–

Class

I

Shares

1/31/03

(15.33)%

8.43%

12.21%

1.04%

0.80%

17

Holdings

Summaries

as

of

October

31,

2022

Fund

Allocation

(%

of

net

assets)

Common

Stocks

99

.6‌

%

Repurchase

Agreements

0

.3‌

%

Other

Assets

Less

Liabilities

0.1%

Net

Assets

100‌

%

Portfolio

Composition

1

(%

of

net

assets)

Software

13.1%

Capital

Markets

10.1%

IT

Services

8.2%

Health

Care

Providers

&

Services

6.5%

Oil,

Gas

&

Consumable

Fuels

6.5%

Semiconductors

&

Semiconductor

Equipment

6.3%

Interactive

Media

&

Services

4.5%

Biotechnology

3.6%

Internet

&

Direct

Marketing

Retail

3.6%

Technology

Hardware,

Storage

&

Peripherals

3.4%

Specialty

Retail

2.9%

Health

Care

Equipment

&

Supplies

2.7%

Banks

2.3%

Electrical

Equipment

2.3%

Hotels,

Restaurants

&

Leisure

2.2%

Chemicals

2.2%

Aerospace

&

Defense

2.2%

Machinery

1.9%

Multiline

Retail

1.7%

Diversified

Telecommunication

Services

1.7%

Other

11.7%

Repurchase

Agreements

0.3%

Other

Assets

Less

Liabilities

0.1%

Net

Assets

100%

Top

Five

Common

Stock

Holdings

(%

of

net

assets)

Microsoft

Corp

6.8%

Alphabet

Inc,

Class

C

3.7%

Amazon.com

Inc

3.6%

Apple

Inc

3.4%

Home

Depot

Inc

2.9%

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

18

Nuveen

Mid

Cap

Growth

Opportunities

Fund

(continued)

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

Refer

to

the

first

page

of

this

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries section

for

further

expla-

nation

of the

information

included

within

this

section. 

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

terms

used

in

this

section.

Fund

Performance

and

Expense

Ratios*

*

For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

Russell

Midcap®

Growth

Index.

**

Class

A

Shares

have

a

maximum

5.75%

sales

charge

(Offering

Price).

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(CDSC)

of

1%

if

redeemed

within

eighteen

months

of

purchase. Class

R6

Shares

have

no

sales

charge

and

are

available

only

to

certain

limited

categories

of

investors

as

described

in

the

prospectus.

Class

I

Shares

have

no

sales

charge

and

may

be

purchased

under

limited

circumstances

or

by

specified

classes

of

investors.

***

The

Fund’s

investment

adviser

has

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

through

July

31,

2024

so

that

the

total

annual

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

0.92%

of

the

average

daily

net

assets

of

any

class

of

Fund

Shares.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

operating

expenses

for

the

Class

R6

Shares

will

be

less

than

the

expense

limitation.

This

expense

limitation

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board

of Directors

of

the

Fund.

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

10-Year

Gross

Net

Class

A

Shares

at

NAV

1/09/95

(36.06)%

5.73%

9.33%

1.20%

1.17%

Class

A

Shares

at

maximum

Offering

Price

1/09/95

(39.73)%

4.49%

8.69%

–

—

Russell

Midcap®

Growth

Index

—

(28.94)%

8.66%

11.95%

—

—

Lipper

Mid-Cap

Growth

Funds

Classification

Average

—

(30.69)%

7.92%

11.04%

—

—

Class

I

Shares

12/28/89

(35.91)%

5.99%

9.60%

0.95%

0.92%

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

Since

Inception

Gross

Net

Class

R6

Shares

2/28/13

(35.86)%

6.11%

9.12%

0.86%

0.83%

19

Growth

of

an

Assumed

$10,000

Investment

as

of October

31,

2022

 -

Class

A

Shares 

The

graphs

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

may

pay

on

Fund

distributions

or

the

redemption

of

Fund

Shares.

20

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries

October

31,

2022

(continued)

Holdings

Summaries

as

of

October

31,

2022

Fund

Allocation

(%

of

net

assets)

Common

Stocks

98

.2‌

%

Repurchase

Agreements

1

.7‌

%

Other

Assets

Less

Liabilities

0.1%

Net

Assets

100‌

%

Portfolio

Composition

1

(%

of

net

assets)

Software

13.5%

Health

Care

Equipment

&

Supplies

7.7%

Specialty

Retail

6.4%

Biotechnology

6.1%

Oil,

Gas

&

Consumable

Fuels

6.1%

Semiconductors

&

Semiconductor

Equipment

5.6%

IT

Services

4.8%

Life

Sciences

Tools

&

Services

4.8%

Aerospace

&

Defense

4.7%

Capital

Markets

4.1%

Hotels,

Restaurants

&

Leisure

3.5%

Machinery

3.0%

Food

Products

2.6%

Commercial

Services

&

Supplies

2.6%

Professional

Services

2.5%

Communications

Equipment

2.4%

Health

Care

Technology

2.0%

Textiles,

Apparel

&

Luxury

Goods

2.0%

Beverages

1.9%

Containers

&

Packaging

1.8%

Other

10.1%

Repurchase

Agreements

1.7%

Other

Assets

Less

Liabilities

0.1%

Net

Assets

100%

Top

Five

Common

Stock

Holdings

(%

of

net

assets)

Dexcom

Inc

3.4%

Hershey

Co/The

2.6%

IQVIA

Holdings

Inc

2.5%

Verisk

Analytics

Inc

2.4%

Synopsys

Inc

2.4%

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

Nuveen

Mid

Cap

Value

Fund

(continued)

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

21

Refer

to

the

first

page

of

this

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries section

for

further

expla-

nation

of the

information

included

within

this

section. 

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

terms

used

in

this

section.

Fund

Performance

and

Expense

Ratios*

*

For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

Russell

Midcap®

Value

Index.

**

Class

A

Shares

have

a

maximum

5.75%

sales

charge

(Offering

Price).

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(CDSC)

of

1%

if

redeemed

within

eighteen

months

of

purchase.

Class

C

Shares

have

a

1%

CDSC

for

redemptions

within

less

than

twelve

months,

which

is

reflected

in

the

maximum

Offering

Price

total

returns

presented

for

less

than

1-Year,

when

and

where

applicable.

Class

C

Shares

automatically

convert

to

Class

A

Shares eight

years

after

purchase.

Returns

for

periods

longer

than

eight

years

for

Class

C

Shares

reflect

the

performance

of

Class

A

Shares

after

the

deemed

eight-year

conversion

to

Class

A

Shares

within

such

periods.

Class

R6

Shares

have

no

sales

charge

and

are

available

only

to

certain

limited

categories

of

investors

as

described

in

the

prospectus.

Class

I

Shares

have

no

sales

charge

and

may

be

purchased

under

limited

circumstances

or

by

specified

classes

of

investors.

***

The

Fund’s

investment

adviser

has

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

through

July

31,

2024

so

that

the

total

annual

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

0.92%

of

the

average

daily

net

assets

of

any

class

of

Fund

Shares.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

operating

expenses

for

the

Class

R6

Shares

will

be

less

than

the

expense

limitation.

This

expense

limitation

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board

of Directors

of

the

Fund.

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

10-Year

Gross

Net

Class

A

Shares

at

NAV

12/22/87

(6.29)%

7.50%

11.14%

1.28%

1.16%

Class

A

Shares

at

maximum

Offering

Price

12/22/87

(11.68)%

6.24%

10.48%

–

—

Russell

Midcap®

Value

Index

—

(10.18)%

6.49%

10.42%

—

—

Lipper

Mid-Cap

Value

Funds

Classification

Average

—

(5.29)%

6.23%

9.39%

—

—

Class

C

Shares

at

NAV

2/01/99

(7.02)%

6.69%

10.47%

2.03%

1.91%

Class

C

Shares

at

maximum

Offering

Price

2/01/99

(7.02)%

6.69%

10.47%

—

–

Class

I

Shares

2/04/94

(6.07)%

7.77%

11.42%

1.03%

0.91%

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

Since

Inception

Gross

Net

Class

R6

Shares

6/20/18

(5.96)%

6.92%

0.87%

0.75%

22

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

(continued)

Growth

of

an

Assumed

$10,000

Investment

as

of October

31,

2022

 -

Class

A

Shares 

The

graphs

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

may

pay

on

Fund

distributions

or

the

redemption

of

Fund

Shares.

23

Holdings

Summaries

as

of

October

31,

2022

Fund

Allocation

(%

of

net

assets)

Common

Stocks

96

.8‌

%

Repurchase

Agreements

3

.1‌

%

Other

Assets

Less

Liabilities

0.1%

Net

Assets

100‌

%

Portfolio

Composition

1

(%

of

net

assets)

Equity

Real

Estate

Investment

Trusts

(REITs)

9.9%

Oil,

Gas

&

Consumable

Fuels

7.4%

Machinery

6.1%

Insurance

5.1%

Banks

4.5%

Electric

Utilities

4.3%

Capital

Markets

3.7%

Multi-Utilities

3.6%

Software

3.0%

Building

Products

2.8%

Electronic

Equipment,

Instruments

&

Components

2.7%

Specialty

Retail

2.6%

Communications

Equipment

2.5%

Health

Care

Providers

&

Services

2.4%

Containers

&

Packaging

2.3%

Chemicals

2.3%

Hotels,

Restaurants

&

Leisure

2.3%

Metals

&

Mining

2.1%

Health

Care

Equipment

&

Supplies

1.9%

Other

25.3%

Repurchase

Agreements

3.1%

Other

Assets

Less

Liabilities

0.1%

Net

Assets

100%

Top

Five

Common

Stock

Holdings

(%

of

net

assets)

Devon

Energy

Corp

2.3%

Raymond

James

Financial

Inc

2.2%

Diamondback

Energy

Inc

2.0%

CenterPoint

Energy

Inc

1.9%

PACCAR

Inc

1.9%

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

24

Nuveen

Small

Cap

Growth

Opportunities

Fund

(continued)

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

Refer

to

the

first

page

of

this

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries section

for

further

expla-

nation

of the

information

included

within

this

section. 

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

terms

used

in

this

section.

Fund

Performance

and

Expense

Ratios*

*

For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

Russell

2000®

Growth

Index.

**

Class

A

Shares

have

a

maximum

5.75%

sales

charge

(Offering

Price).

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(CDSC)

of

1%

if

redeemed

within

eighteen

months

of

purchase. Class

R6

Shares

have

no

sales

charge

and

are

available

only

to

certain

limited

categories

of

investors

as

described

in

the

prospectus.

Class

I

Shares

have

no

sales

charge

and

may

be

purchased

under

limited

circumstances

or

by

specified

classes

of

investors.

***

The

Fund’s

investment

adviser

has

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

through

July

31,

2024

so

that

the

total

annual

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

0.99%

of

the

average

daily

net

assets

of

any

class

of

Fund

Shares.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

operating

expenses

for

the

Class

R6

Shares

will

be

less

than

the

expense

limitation.

This

expense

limitation

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board

of Directors

of

the

Fund.

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

10-Year

Gross

Net

Class

A

Shares

at

NAV

8/01/95

(28.03)%

8.92%

11.57%

1.33%

1.21%

Class

A

Shares

at

maximum

Offering

Price

8/01/95

(32.17)%

7.64%

10.91%

—

—

Russell

2000®

Growth

Index

—

(26.02)%

5.17%

10.15%

—

—

Lipper

Small-Cap

Growth

Funds

Classification

Average

—

(26.48)%

7.51%

10.65%

—

—

Class

I

Shares

8/01/95

(27.86)%

9.19%

11.84%

1.08%

0.96%

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

Since

Inception

Gross

Net

Class

R6

Shares

6/30/16

(27.74)%

9.41%

12.33%

0.93%

0.81%

25

Growth

of

an

Assumed

$10,000

Investment

as

of October

31,

2022

 -

Class

A

Shares 

The

graphs

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

may

pay

on

Fund

distributions

or

the

redemption

of

Fund

Shares.

26

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries

October

31,

2022

(continued)

Holdings

Summaries

as

of

October

31,

2022

Fund

Allocation

(%

of

net

assets)

Common

Stocks

98

.9‌

%

Investments

Purchased

with

Collateral

from

Securities

Lending

1

.3‌

%

Repurchase

Agreements

0

.5‌

%

Other

Assets

Less

Liabilities

(0.7)%

Net

Assets

100‌

%

Portfolio

Composition

1

(%

of

net

assets)

Software

11.1%

Health

Care

Equipment

&

Supplies

7.1%

Oil,

Gas

&

Consumable

Fuels

7.0%

Semiconductors

&

Semiconductor

Equipment

6.5%

Machinery

6.4%

Health

Care

Providers

&

Services

6.1%

Biotechnology

4.6%

Hotels,

Restaurants

&

Leisure

4.4%

Commercial

Services

&

Supplies

3.7%

Banks

3.0%

Equity

Real

Estate

Investment

Trusts

(REITs)

2.7%

Insurance

2.7%

Electrical

Equipment

2.6%

Pharmaceuticals

2.4%

Chemicals

2.4%

Health

Care

Technology

1.7%

Beverages

1.6%

Personal

Products

1.6%

Diversified

Consumer

Services

1.6%

IT

Services

1.5%

Other

18.2%

Investments

Purchased

with

Collateral

from

Securities

Lending

1.3%

Repurchase

Agreements

0.5%

Other

Assets

Less

Liabilities

(0.7)%

Net

Assets

100%

Top

Five

Common

Stock

Holdings

(%

of

net

assets)

Chart

Industries

Inc

2.5%

Matador

Resources

Co

2.4%

MACOM

Technology

Solutions

Holdings

Inc

2.1%

Tetra

Tech

Inc

1.9%

Axonics

Inc

1.9%

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

Nuveen

Small

Cap

Select

Fund

(continued)

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

27

Refer

to

the

first

page

of

this

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries section

for

further

expla-

nation

of the

information

included

within

this

section. 

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

terms

used

in

this

section.

Fund

Performance

and

Expense

Ratios*

*

For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

Russell

2000®

Index.

**

Class

A

Shares

have

a

maximum

5.75%

sales

charge

(Offering

Price).

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(CDSC)

of

1%

if

redeemed

within

eighteen

months

of

purchase. Class

R6

Shares

have

no

sales

charge

and

are

available

only

to

certain

limited

categories

of

investors

as

described

in

the

prospectus.

Class

I

Shares

have

no

sales

charge

and

may

be

purchased

under

limited

circumstances

or

by

specified

classes

of

investors.

***

The

Fund’s

investment

adviser

has

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

through

July

31,

2024

so

that

the

total

annual

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

0.99%

of

the

average

daily

net

assets

of

any

class

of

Fund

Shares.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

operating

expenses

for

the

Class

R6

Shares

will

be

less

than

the

expense

limitation.

This

expense

limitation

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board

of Directors

of

the

Fund.

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

10-Year

Gross

Net

Class

A

Shares

at

NAV

5/06/92

(17.84)%

7.34%

10.12%

1.39%

1.24%

Class

A

Shares

at

maximum

Offering

Price

5/06/92

(22.59)%

6.07%

9.47%

—

—

Russell

2000®

Index

—

(18.54)%

5.56%

9.93%

—

—

Lipper

Small-Cap

Core

Funds

Classification

Average

—

(11.64)%

5.54%

9.49%

—

—

Class

I

Shares

5/06/92

(17.63)%

7.60%

10.38%

1.14%

0.99%

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

Since

Inception

Gross

Net

Class

R6

Shares

2/28/18

(17.57)%

7.50%

1.03%

0.87%

28

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

(continued)

Growth

of

an

Assumed

$10,000

Investment

as

of October

31,

2022

 -

Class

A

Shares 

The

graphs

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

may

pay

on

Fund

distributions

or

the

redemption

of

Fund

Shares.

29

Holdings

Summaries

as

of

October

31,

2022

Fund

Allocation

(%

of

net

assets)

Common

Stocks

98

.5‌

%

Exchange-Traded

Funds

1

.0‌

%

Investments

Purchased

with

Collateral

from

Securities

Lending

2

.8‌

%

Repurchase

Agreements

0

.7‌

%

Other

Assets

Less

Liabilities

(3.0)%

Net

Assets

100‌

%

Portfolio

Composition

1

(%

of

net

assets)

Banks

10.3%

Software

7.3%

Oil,

Gas

&

Consumable

Fuels

6.9%

Health

Care

Providers

&

Services

6.6%

Health

Care

Equipment

&

Supplies

5.3%

Equity

Real

Estate

Investment

Trusts

(REITs)

4.2%

Machinery

4.2%

Semiconductors

&

Semiconductor

Equipment

4.1%

Pharmaceuticals

3.1%

Hotels,

Restaurants

&

Leisure

3.0%

Professional

Services

2.7%

Construction

&

Engineering

2.7%

Biotechnology

2.6%

Electrical

Equipment

2.5%

Capital

Markets

2.5%

Personal

Products

2.2%

Marine

1.6%

Gas

Utilities

1.6%

Beverages

1.5%

Other

24.6%

Investments

Purchased

with

Collateral

from

Securities

Lending

2.8%

Repurchase

Agreements

0.7%

Other

Assets

Less

Liabilities

(3.0)%

Net

Assets

100%

Top

Five

Common

Stock

Holdings

(%

of

net

assets)

Wintrust

Financial

Corp

2.2%

Banner

Corp

2.2%

Northern

Oil

and

Gas

Inc

2.1%

Matador

Resources

Co

2.1%

Texas

Roadhouse

Inc

1.8%

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

30

Nuveen

Small

Cap

Value

Fund

(continued)

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

October

31,

2022

Refer

to

the

first

page

of

this

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries section

for

further

expla-

nation

of the

information

included

within

this

section. 

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

terms

used

in

this

section.

Fund

Performance

and

Expense

Ratios*

*

For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

Russell

2000®

Value

Index.

**

Class

A

Shares

have

a

maximum

5.75%

sales

charge

(Offering

Price).

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(CDSC)

of

1%

if

redeemed

within

eighteen

months

of

purchase.

Class

C

Shares

have

a

1%

CDSC

for

redemptions

within

less

than

twelve

months,

which

is

reflected

in

the

maximum

Offering

Price

total

returns

presented

for

less

than

1-Year,

when

and

where

applicable.

Class

C

Shares

automatically

convert

to

Class

A

Shares eight

years

after

purchase.

Returns

for

periods

longer

than

eight

years

for

Class

C

Shares

reflect

the

performance

of

Class

A

Shares

after

the

deemed

eight-year

conversion

to

Class

A

Shares

within

such

periods.

Class

R6

Shares

have

no

sales

charge

and

are

available

only

to

certain

limited

categories

of

investors

as

described

in

the

prospectus.

Class

I

Shares

have

no

sales

charge

and

may

be

purchased

under

limited

circumstances

or

by

specified

classes

of

investors.

***

The

Fund’s

investment

adviser

has

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

through

July

31,

2024

so

that

the

total

annual

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

0.99%

of

the

average

daily

net

assets

of

any

class

of

Fund

Shares.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

operating

expenses

for

the

Class

R6

Shares

will

be

less

than

the

expense

limitation.

This

expense

limitation

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board

of Directors

of

the

Fund.

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

10-Year

Gross

Net

Class

A

Shares

at

NAV

8/01/94

(6.00)%

2.34%

8.95%

1.25%

1.20%

Class

A

Shares

at

maximum

Offering

Price

8/01/94

(11.40)%

1.13%

8.31%

–

—

Russell

2000®

Value

Index

—

(10.73)%

5.31%

9.37%

—

—

Lipper

Small-Cap

Value

Funds

Classification

Average

—

(6.16)%

5.75%

9.22%

—

—

Class

C

Shares

at

NAV

2/01/99

(6.70)%

1.57%

8.30%

2.00%

1.95%

Class

C

Shares

at

maximum

Offering

Price

2/01/99

(6.70)%

1.57%

8.30%

—

–

Class

I

Shares

8/01/94

(5.76)%

2.59%

9.23%

1.00%

0.95%

Total

Returns

as

of

October

31,

2022**

Average

Annual

Expense

Ratios

***

Inception

Date

1-Year

5-Year

Since

Inception

Gross

Net

Class

R6

Shares

6/30/16

(5.60)%

2.77%

6.12%

0.85%

0.81%

31

Growth

of

an

Assumed

$10,000

Investment

as

of October

31,

2022

 -

Class

A

Shares 

The

graphs

do

not

reflect

the

deduction

of

taxes

that

a

shareholder

may

pay

on

Fund

distributions

or

the

redemption

of

Fund

Shares.

32

Fund

Performance,

Expense

Ratios

and

Holdings

Summaries

October

31,

2022

(continued)

Holdings

Summaries

as

of

October

31,

2022

Fund

Allocation

(%

of

net

assets)

Common

Stocks

99

.0‌

%

Investments

Purchased

with

Collateral

from

Securities

Lending

0

.3‌

%

Repurchase

Agreements

1

.1‌

%

Other

Assets

Less

Liabilities

(0.4)%

Net

Assets

100‌

%

Portfolio

Composition

1

(%

of

net

assets)

Banks

18.8%

Equity

Real

Estate

Investment

Trusts

(REITs)

8.3%

Oil,

Gas

&

Consumable

Fuels

6.6%

Chemicals

3.4%

Insurance

3.0%

Hotels,

Restaurants

&

Leisure

2.9%

Health

Care

Providers

&

Services

2.8%

Gas

Utilities

2.7%

Capital

Markets

2.7%

Electronic

Equipment,

Instruments

&

Components

2.5%

IT

Services

2.2%

Commercial

Services

&

Supplies

1.9%

Biotechnology

1.9%

Air

Freight

&

Logistics

1.7%

Leisure

Products

1.7%

Specialty

Retail

1.7%

Health

Care

Equipment

&

Supplies

1.6%

Household

Durables

1.6%

Electrical

Equipment

1.6%

Semiconductors

&

Semiconductor

Equipment

1.6%

Other

27.8%

Investments

Purchased

with

Collateral

from

Securities

Lending

0.3%

Repurchase

Agreements

1.1%

Other

Assets

Less

Liabilities

(0.4)%

Net

Assets

100%

Top

Five

Common

Stock

Holdings

(%

of

net

assets)

Banner

Corp

2.2%

First

Interstate

BancSystem

Inc,

Class

A

1.9%

Preferred

Bank/Los

Angeles

CA

1.8%

Ameris

Bancorp

1.7%

Heartland

Financial

USA

Inc

1.7%

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

Expense

Examples

33

As

a

shareholder

of

one

or

more

of

the

Funds,

you

incur

two

types

of

costs:

(1)

transaction

costs, including

up-front

and

back-end

sales

charges

(loads)

or

redemption

fees,

where

applicable;

and

(2)

ongoing

costs,

including

management

fees;

distribution

and

service

(12b-1)

fees,

where

applicable;

and

other

Fund

expenses.

The

Examples

below

are

intended

to

help

you

understand

your

ongoing

costs

(in

dollars)

of

investing

in

the

Funds

and

to

compare

these

costs

with

the

ongoing

costs

of investing

in

other

mutual

funds.

The

Examples

below

are

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

period

and

held

through

the

period

ended

October

31,

2022.

The

beginning

of

the

period

is

May

1,

2022.

The

information

under

“Actual

Performance,”

together

with

the

amount

you

invested,

allows

you

to

estimate

actual

expenses

incurred

over

the

reporting

period.

Simply

divide

your

account

value

by

$1,000

(for

example,

an

$8,600

account

value

divided

by

$1,000

=

8.60)

and

multiply

the

result

by

the

cost

shown

for

your

share

class,

in

the

row

entitled

“Expenses

Incurred

During

Period”

to

estimate

the

expenses

incurred

on

your

account

during

this

period.

The

information

under

“Hypothetical

Performance,”

provides

information

about

hypothetical

account

values

and

hypothetical

expenses

based

on

each

Fund’s

actual

expense

ratios

and

an

assumed

rate

of

return

of

5%

per

year

before

expenses,

which

is

not

the

Fund’s

actual

return.

The

hypothetical

account

values

and

expenses

may

not

be

used

to

estimate

the

actual

ending

account

balance

or

expense

you

incurred

for

the

period.

You

may

use

this

information

to

compare

the

ongoing

costs

of

investing

in

the

Fund

and

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

the

other

funds.

Please

note

that

the

expenses

shown

in

the

following

tables

are

meant

to

highlight

your

ongoing

costs

only

and

do

not

reflect

any

transaction

costs.

Therefore,

the

hypothetical

information

is

useful

in

comparing

ongoing

costs

only,

and

will

not

help

you

determine

the

relative

total

costs

of

owning

different

funds

or

share

classes.

In

addition,

if

these

transaction

costs

were

included,

your

costs

would

have

been

higher.

Nuveen

Dividend

Value

Fund

Share

Class

Class

A

Class

C

Class

R6

Class

I

Actual

Performance

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$996.08

$992.51

$997.64

$997.61

Expenses

Incurred

During

the

Period

$4.83

$8.59

$3.07

$3.57

Hypothetical

Performance

(5%

annualized

return

before

expenses)

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,020.37

$1,016.59

$1,022.13

$1,021.63

Expenses

Incurred

During

the

Period

$4.89

$8.69

$3.11

$3.62

For

each

class

of

the

Fund,

expenses

are

equal

to

the

Fund’s

annualized

net

expense

ratio

of

0.96%,

1.71%,

0.61%

and

0.71%

for

Classes

A,

C,

R6

and

I,

respectively,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

184

/365

(to

reflect

the

one-half

year

period).

Nuveen

Large

Cap

Select

Fund

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

$945.59

$942.28

$946.88

Expenses

Incurred

During

the

Period

$5.15

$8.81

$3.93

Hypothetical

Performance

(5%

annualized

return

before

expenses)

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,019.91

$1,016.13

$1,021.17

Expenses

Incurred

During

the

Period

$5.35

$9.15

$4.08

For

each

class

of

the

Fund,

expenses

are

equal

to

the

Fund’s

annualized

net

expense

ratio

of

1.05%,

1.80%

and

0.80%

for

Classes

A,

C

and

I,

respectively,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

184

/365

(to

reflect

the

one-half

year

period).

Expense

Examples

(continued)

34

Nuveen

Mid

Cap

Growth

Opportunities

Fund

Share

Class

Class

A

Class

R6

Class

I

Actual

Performance

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$931.45

$933.05

$932.60

Expenses

Incurred

During

the

Period

$5.70

$4.09

$4.48

Hypothetical

Performance

(5%

annualized

return

before

expenses)

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,019.31

$1,020.98

$1,020.57

Expenses

Incurred

During

the

Period

$5.96

$4.28

$4.69

For

each

class

of

the

Fund,

expenses

are

equal

to

the

Fund’s

annualized

net

expense

ratio

of

1.17%,

0.84%

and

0.92%

for

Classes

A,

R6

and

I,

respectively,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

184

/365

(to

reflect

the

one-half

year

period).

Nuveen

Mid

Cap

Value

Fund

Share

Class

Class

A

Class

C

Class

R6

Class

I

Actual

Performance

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$959.43

$955.70

$961.14

$960.62

Expenses

Incurred

During

the

Period

$5.73

$9.42

$3.91

$4.50

Hypothetical

Performance

(5%

annualized

return

before

expenses)

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,019.36

$1,015.58

$1,021.22

$1,020.62

Expenses

Incurred

During

the

Period

$5.90

$9.70

$4.02

$4.63

For

each

class

of

the

Fund,

expenses

are

equal

to

the

Fund’s

annualized

net

expense

ratio

of

1.16%,

1.91%,

0.79%

and

0.91%

for

Classes

A,

C,

R6

and

I,

respectively,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

184

/365

(to

reflect

the

one-half

year

period).

Nuveen

Small

Cap

Growth

Opportunities

Fund

Share

Class

Class

A

Class

R6

Class

I

Actual

Performance

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$977.57

$979.46

$978.45

Expenses

Incurred

During

the

Period

$6.08

$4.24

$4.89

Hypothetical

Performance

(5%

annualized

return

before

expenses)

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,019.06

$1,020.92

$1,020.27

Expenses

Incurred

During

the

Period

$6.21

$4.33

$4.99

For

each

class

of

the

Fund,

expenses

are

equal

to

the

Fund’s

annualized

net

expense

ratio

of

1.22%,

0.85%

and

0.98%

for

Classes

A,

R6

and

I,

respectively,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

184

/365

(to

reflect

the

one-half

year

period).

Nuveen

Small

Cap

Select

Fund

Share

Class

Class

A

Class

R6

Class

I

Actual

Performance

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$998.78

$1,000.00

$1,000.00

Expenses

Incurred

During

the

Period

$6.25

$4.44

$4.99

Hypothetical

Performance

(5%

annualized

return

before

expenses)

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,018.95

$1,020.77

$1,020.21

Expenses

Incurred

During

the

Period

$6.31

$4.48

$5.04

For

each

class

of

the

Fund,

expenses

are

equal

to

the

Fund’s

annualized

net

expense

ratio

of

1.24%,

0.88%

and

0.99%

for

Classes

A,

R6

and

I,

respectively,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

184

/365

(to

reflect

the

one-half

year

period).

35

Nuveen

Small

Cap

Value

Fund

Share

Class

Class

A

Class

C

Class

R6

Class

I

Actual

Performance

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,000.75

$997.28

$1,003.25

$1,002.18

Expenses

Incurred

During

the

Period

$6.05

$9.82

$4.04

$4.79

Hypothetical

Performance

(5%

annualized

return

before

expenses)

Beginning

Account

Value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

Account

Value

$1,019.16

$1,015.38

$1,021.17

$1,020.42

Expenses

Incurred

During

the

Period

$6.11

$9.91

$4.08

$4.84

For

each

class

of

the

Fund,

expenses

are

equal

to

the

Fund’s

annualized

net

expense

ratio

of

1.20%,

1.95%,

0.80%

and

0.95%

for

Classes

A,

C,

R6

and

I,

respectively,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

184

/365

(to

reflect

the

one-half

year

period).

36

Report

of

Independent

Registered

Public

Accounting

Firm

To

the

Board

of

Directors

of

Nuveen

Investment

Funds,

Inc.

and

Shareholders

of

Nuveen

Dividend

Value

Fund,

Nuveen

Large

Cap

Select

Fund,

Nuveen

Mid

Cap

Growth

Opportunities

Fund,

Nuveen

Mid

Cap

Value

Fund,

Nuveen

Small

Cap

Growth

Opportunities

Fund,

Nuveen

Small

Cap

Select

Fund

and

Nuveen

Small

Cap

Value

Fund

Opinions

on

the

Financial

Statements

We

have

audited

the

accompanying

statements

of

assets

and

liabilities,

including

the

portfolios

of

investments,

of

Nuveen

Dividend

Value

Fund,

Nuveen

Large

Cap

Select

Fund,

Nuveen

Mid

Cap

Growth

Opportunities

Fund,

Nuveen

Mid

Cap

Value

Fund,

Nuveen

Small

Cap

Growth

Opportunities

Fund,

Nuveen

Small

Cap

Select

Fund

and

Nuveen

Small

Cap

Value

Fund

(seven

of

the

funds

constituting

Nuveen

Investment

Funds,

Inc.,

hereafter

collectively

referred

to

as

the

"Funds")

as

of

October

31,

2022,

the

related

statements

of

operations

for

the

year

ended

October

31,

2022,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

periods

indicated

therein

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

as

of

October

31,

2022,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022

and

each

of

the

financial

highlights

for

each

of

the

periods

indicated

therein

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

of

the

Funds’

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds’

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2022

by

correspondence

with

the

custodian

and

brokers.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/

PricewaterhouseCoopers

LLP

Chicago,

Illinois

December

28,

2022

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

Nuveen

Funds

since

2002.

37

Nuveen

Dividend

Value

Fund

Portfolio

of

Investments

October

31,

2022

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

99.2%  

X

3,338,136,551

COMMON

STOCKS

-

99.2%

X

3,338,136,551

Aerospace

&

Defense

-

1.8%

641,598

Raytheon

Technologies

Corp

$

60,836,322

Banks

-

7.2%

2,488,696

Bank

of

America

Corp

89,692,604

2,646,222

Huntington

Bancshares

Inc/OH

40,169,650

717,556

Truist

Financial

Corp

32,139,333

1,720,795

Wells

Fargo

&

Co

79,139,362

Total

Banks

241,140,949

Beverages

-

1.2%

1,023,554

Keurig

Dr

Pepper

Inc

39,754,837

Biotechnology

-

3.9%

352,469

AbbVie

Inc

51,601,462

1,021,375

Gilead

Sciences

Inc

80,137,082

Total

Biotechnology

131,738,544

Building

Products

-

2.5%

962,042

Carrier

Global

Corp

38,250,790

782,493

Johnson

Controls

International

plc

45,259,395

Total

Building

Products

83,510,185

Capital

Markets

-

10.1%

136,356

Ameriprise

Financial

Inc

42,150,367

1,058,868

Charles

Schwab

Corp

84,360,014

270,556

LPL

Financial

Holdings

Inc

69,167,641

1,070,535

Morgan

Stanley

87,965,861

176,169

S&P

Global

Inc

56,594,291

Total

Capital

Markets

340,238,174

Chemicals

-

3.2%

678,475

Corteva

Inc

44,331,556

643,465

DuPont

de

Nemours

Inc

36,806,198

236,103

PPG

Industries

Inc

26,958,241

Total

Chemicals

108,095,995

Containers

&

Packaging

-

0.8%

417,383

Crown

Holdings

Inc

28,628,300

Diversified

Telecommunication

Services

-

2.3%

4,182,812

AT&T

Inc

76,252,663

Electric

Utilities

-

3.5%

723,113

Alliant

Energy

Corp

37,724,805

439,626

American

Electric

Power

Co

Inc

38,651,918

545,581

NextEra

Energy

Inc

42,282,528

Total

Electric

Utilities

118,659,251

Electrical

Equipment

-

2.5%

315,323

Eaton

Corp

PLC

47,320,523

144,631

Rockwell

Automation

Inc

36,924,294

Total

Electrical

Equipment

84,244,817

Nuveen

Dividend

Value

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

38

Shares

Description

(1)

Value

Equity

Real

Estate

Investment

Trusts

(REITs)

-

7.2%

1,220,911

American

Homes

4

Rent,

Class

A

$

38,995,897

303,500

Crown

Castle

Inc

40,444,410

261,166

Extra

Space

Storage

Inc

46,341,295

1,182,112

Kimco

Realty

Corp

25,273,555

252,863

Mid-America

Apartment

Communities

Inc

39,813,279

459,056

Prologis

Inc

50,840,452

Total

Equity

Real

Estate

Investment

Trusts

(REITs)

241,708,888

Food

&

Staples

Retailing

-

1.7%

1,186,439

Albertsons

Cos

Inc,

Class

A

24,333,864

390,216

Sysco

Corp

33,777,097

Total

Food

&

Staples

Retailing

58,110,961

Food

Products

-

1.2%

1,038,722

Kraft

Heinz

Co

39,959,635

Health

Care

Equipment

&

Supplies

-

3.2%

569,654

Abbott

Laboratories

56,361,567

926,009

Baxter

International

Inc

50,328,589

Total

Health

Care

Equipment

&

Supplies

106,690,156

Health

Care

Providers

&

Services

-

6.5%

401,669

Cardinal

Health

Inc

30,486,677

216,576

Cigna

Corp

69,967,042

134,192

Elevance

Health

Inc

73,372,160

77,798

Humana

Inc

43,417,508

Total

Health

Care

Providers

&

Services

217,243,387

Hotels,

Restaurants

&

Leisure

-

2.1%

522,850

Starbucks

Corp

45,273,581

320,445

Wyndham

Hotels

&

Resorts

Inc

24,331,389

Total

Hotels,

Restaurants

&

Leisure

69,604,970

Insurance

-

2.7%

751,386

American

International

Group

Inc

42,829,002

146,488

Everest

Re

Group

Ltd

47,265,818

Total

Insurance

90,094,820

IT

Services

-

3.8%

681,844

Fidelity

National

Information

Services

Inc

56,586,233

345,580

Visa

Inc,

Class

A

71,590,353

Total

IT

Services

128,176,586

Leisure

Products

-

0.4%

212,262

Brunswick

Corp/DE

15,000,556

Life

Sciences

Tools

&

Services

-

1.7%

222,936

Danaher

Corp

56,106,303

Machinery

-

3.2%

292,618

Dover

Corp

38,242,247

136,932

Parker-Hannifin

Corp

39,795,178

336,540

Westinghouse

Air

Brake

Technologies

Corp

31,392,451

Total

Machinery

109,429,876

Multiline

Retail

-

1.6%

326,209

Target

Corp

53,579,828

39

Shares

Description

(1)

Value

Oil,

Gas

&

Consumable

Fuels

-

9.3%

649,403

ConocoPhillips

$

81,883,224

758,703

Devon

Energy

Corp

58,685,677

905,124

EQT

Corp

37,870,388

297,663

Pioneer

Natural

Resources

Co

76,323,770

454,959

Valero

Energy

Corp

57,120,103

Total

Oil,

Gas

&

Consumable

Fuels

311,883,162

Pharmaceuticals

-

1.5%

854,030

AstraZeneca

PLC,

Sponsored

ADR

50,225,504

Semiconductors

&

Semiconductor

Equipment

-

4.7%

409,171

Applied

Materials

Inc

36,125,708

93,620

Broadcom

Inc

44,012,634

72,355

Lam

Research

Corp

29,287,857

637,875

Micron

Technology

Inc

34,509,038

246,560

Taiwan

Semiconductor

Manufacturing

Co

Ltd,

Sponsored

ADR

15,175,768

Total

Semiconductors

&

Semiconductor

Equipment

159,111,005

Software

-

4.0%

139,354

Microsoft

Corp

32,348,244

1,527,194

NortonLifeLock

Inc

34,407,681

864,732

Oracle

Corp

67,509,627

Total

Software

134,265,552

Specialty

Retail

-

3.7%

269,901

Advance

Auto

Parts

Inc

51,259,598

250,328

Home

Depot

Inc

74,129,631

Total

Specialty

Retail

125,389,229

Tobacco

-

1.7%

636,430

Philip

Morris

International

Inc

58,456,096

Total

Long-Term

Investments

(cost

$3,015,434,075)

3,338,136,551

Other

Assets

Less

Liabilities

-   0.8%

26,406,397

Net

Assets

-

100%

$

3,364,542,948

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.

ADR

American

Depositary

Receipt

S&P

Standard

&

Poor's

See

accompanying

notes

to

financial

statements

40

Nuveen

Large

Cap

Select

Fund

Portfolio

of

Investments

October

31,

2022

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

99.6%  

X

34,207,016

COMMON

STOCKS

-

99.6%

X

34,207,016

Aerospace

&

Defense

-

2.2%

2,079

Curtiss-Wright

Corp

$

348,919

4,237

Raytheon

Technologies

Corp

401,752

Total

Aerospace

&

Defense

750,671

Banks

-

2.3%

17,462

Wells

Fargo

&

Co

803,077

Biotechnology

-

3.6%

4,716

AbbVie

Inc

690,423

627

Biogen

Inc

(2)

177,717

1,610

United

Therapeutics

Corp

(2)

371,153

Total

Biotechnology

1,239,293

Building

Products

-

1.1%

6,480

Johnson

Controls

International

plc

374,803

Capital

Markets

-

10.1%

1,842

Ameriprise

Financial

Inc

569,399

12,112

Charles

Schwab

Corp

964,963

2,827

LPL

Financial

Holdings

Inc

722,722

8,346

Morgan

Stanley

685,791

1,684

S&P

Global

Inc

540,985

Total

Capital

Markets

3,483,860

Chemicals

-

2.2%

6,933

Corteva

Inc

453,002

5,258

DuPont

de

Nemours

Inc

300,758

Total

Chemicals

753,760

Communications

Equipment

-

1.4%

9,999

Ciena

Corp

(2)

478,952

Containers

&

Packaging

-

0.8%

5,565

Sealed

Air

Corp

265,005

Diversified

Telecommunication

Services

-

1.7%

31,173

AT&T

Inc

568,284

Electrical

Equipment

-

2.3%

2,769

Eaton

Corp

PLC

415,544

1,496

Rockwell

Automation

Inc

381,929

Total

Electrical

Equipment

797,473

Food

&

Staples

Retailing

-

1.5%

6,828

Albertsons

Cos

Inc,

Class

A

140,042

7,396

Performance

Food

Group

Co

(2)

384,888

Total

Food

&

Staples

Retailing

524,930

Food

Products

-

1.2%

10,878

Kraft

Heinz

Co

418,477

41

Shares

Description

(1)

Value

Health

Care

Equipment

&

Supplies

-

2.7%

4,448

Abbott

Laboratories

$

440,085

8,993

Baxter

International

Inc

488,770

Total

Health

Care

Equipment

&

Supplies

928,855

Health

Care

Providers

&

Services

-

6.5%

5,615

Centene

Corp

(2)

478,005

1,728

Cigna

Corp

558,247

1,074

Elevance

Health

Inc

587,231

1,124

Humana

Inc

627,282

Total

Health

Care

Providers

&

Services

2,250,765

Hotels,

Restaurants

&

Leisure

-

2.2%

2,665

Expedia

Group

Inc

(2)

249,097

5,844

Starbucks

Corp

506,032

Total

Hotels,

Restaurants

&

Leisure

755,129

Insurance

-

1.2%

7,024

American

International

Group

Inc

400,368

Interactive

Media

&

Services

-

4.5%

13,540

Alphabet

Inc,

Class

C

(2)

1,281,696

5,865

ZoomInfo

Technologies

Inc

(2)

261,169

Total

Interactive

Media

&

Services

1,542,865

Internet

&

Direct

Marketing

Retail

-

3.6%

11,941

Amazon.com

Inc

(2)

1,223,236

IT

Services

-

8.2%

3,824

Fidelity

National

Information

Services

Inc

317,354

7,040

Fiserv

Inc

(2)

723,290

2,588

Mastercard

Inc,

Class

A

849,330

4,546

Visa

Inc,

Class

A

941,749

Total

IT

Services

2,831,723

Life

Sciences

Tools

&

Services

-

1.3%

1,758

Danaher

Corp

442,436

Machinery

-

1.9%

1,121

Parker-Hannifin

Corp

325,785

3,489

Westinghouse

Air

Brake

Technologies

Corp

325,454

Total

Machinery

651,239

Multiline

Retail

-

1.7%

3,510

Target

Corp

576,517

Oil,

Gas

&

Consumable

Fuels

-

6.5%

5,057

Antero

Resources

Corp

(2)

185,389

3,612

ConocoPhillips

455,437

2,380

Diamondback

Energy

Inc

373,922

2,904

Pioneer

Natural

Resources

Co

744,615

3,749

Valero

Energy

Corp

470,687

Total

Oil,

Gas

&

Consumable

Fuels

2,230,050

Pharmaceuticals

-

0.7%

4,123

AstraZeneca

PLC,

Sponsored

ADR

242,474

Nuveen

Large

Cap

Select

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

42

Shares

Description

(1)

Value

Semiconductors

&

Semiconductor

Equipment

-

6.3%

3,066

Advanced

Micro

Devices

Inc

(2)

$

184,144

1,547

Broadcom

Inc

727,276

1,239

Lam

Research

Corp

501,522

4,413

Marvell

Technology

Inc

175,108

7,372

Micron

Technology

Inc

398,825

2,630

Taiwan

Semiconductor

Manufacturing

Co

Ltd,

Sponsored

ADR

(2)

161,877

Total

Semiconductors

&

Semiconductor

Equipment

2,148,752

Software

-

13.1%

2,456

Crowdstrike

Holdings

Inc,

Class

A

(2)

395,907

9,996

Microsoft

Corp

2,320,372

9,514

Oracle

Corp

742,758

3,900

Salesforce

Inc

(2)

634,101

992

ServiceNow

Inc

(2)

417,374

Total

Software

4,510,512

Specialty

Retail

-

2.9%

3,333

Home

Depot

Inc

987,001

Technology

Hardware,

Storage

&

Peripherals

-

3.4%

7,650

Apple

Inc

1,173,051

Tobacco

-

1.5%

5,713

Philip

Morris

International

Inc

524,739

Trading

Companies

&

Distributors

-

1.0%

2,386

WESCO

International

Inc

(2)

328,719

Total

Long-Term

Investments

(cost

$30,858,997)

34,207,016

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Value

SHORT-TERM

INVESTMENTS

-

 0.3% 

X

112,208

REPURCHASE

AGREEMENTS

-

0.3%

X

112,208

$

112

Repurchase

Agreement

with

Fixed

Income

Clearing

Corporation,

dated

10/31/22,

repurchase

price

$112,211,

collateralized

$114,400,

U.S.

Treasury

Government

Bonds,

4.25%,

due

5/15/39,

value

$114,467

0.830%

11/01/22

$

112,208

Total

Short-Term

Investments

(cost

$112,208)

112,208

Total

Investments

(cost

$

30,971,205

)

-

99

.9

%

34,319,224

Other

Assets

Less

Liabilities

-   0.1%

24,674

Net

Assets

-

100%

$

34,343,898

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.

ADR

American

Depositary

Receipt

S&P

Standard

&

Poor's

See

accompanying

notes

to

financial

statements

43

Nuveen

Mid

Cap

Growth

Opportunities

Fund

Portfolio

of

Investments

October

31,

2022

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

98.2%  

X

231,081,192

COMMON

STOCKS

-

98.2%

X

231,081,192

Aerospace

&

Defense

-

4.7%

32,474

Axon

Enterprise

Inc

(2)

$

4,723,019

25,771

HEICO

Corp,

Class

A

3,280,648

162,637

Kratos

Defense

&

Security

Solutions

Inc

(2)

1,802,018

4,742

L3Harris

Technologies

Inc

1,168,761

Total

Aerospace

&

Defense

10,974,446

Beverages

-

1.9%

47,703

Monster

Beverage

Corp

(2)

4,470,725

Biotechnology

-

6.1%

11,128

Alnylam

Pharmaceuticals

Inc

(2)

2,306,389

4,817

Argenx

SE,

ADR

(2)

1,868,659

76,962

Horizon

Therapeutics

Plc

(2)

4,796,272

9,758

Seagen

Inc

(2)

1,240,827

18,230

United

Therapeutics

Corp

(2)

4,202,562

Total

Biotechnology

14,414,709

Capital

Markets

-

4.1%

16,908

LPL

Financial

Holdings

Inc

4,322,530

11,219

MSCI

Inc

5,260,141

Total

Capital

Markets

9,582,671

Chemicals

-

0.9%

64,506

Avient

Corp

2,224,812

Commercial

Services

&

Supplies

-

2.6%

23,215

Tetra

Tech

Inc

3,279,815

21,504

Waste

Connections

Inc

2,836,593

Total

Commercial

Services

&

Supplies

6,116,408

Communications

Equipment

-

2.4%

30,648

Arista

Networks

Inc

(2)

3,704,117

40,712

Ciena

Corp

(2)

1,950,105

Total

Communications

Equipment

5,654,222

Construction

&

Engineering

-

1.4%

43,203

MasTec

Inc

(2)

3,330,087

Containers

&

Packaging

-

1.8%

19,532

Crown

Holdings

Inc

1,339,700

121,492

Graphic

Packaging

Holding

Co

2,789,456

Total

Containers

&

Packaging

4,129,156

Electronic

Equipment,

Instruments

&

Components

-

1.3%

68,367

Cognex

Corp

3,160,606

Entertainment

-

1.6%

48,741

World

Wrestling

Entertainment

Inc,

Class

A

3,845,177

Equity

Real

Estate

Investment

Trusts

(REITs)

-

1.3%

16,822

Extra

Space

Storage

Inc

2,984,896

Nuveen

Mid

Cap

Growth

Opportunities

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

44

Shares

Description

(1)

Value

Food

Products

-

2.6%

25,787

Hershey

Co/The

$

6,157,162

Health

Care

Equipment

&

Supplies

-

7.7%

67,056

Dexcom

Inc

(2)

8,099,023

18,085

Insulet

Corp

(2)

4,680,579

34,115

Lantheus

Holdings

Inc

(2)

2,524,169

16,272

Penumbra

Inc

(2)

2,790,160

Total

Health

Care

Equipment

&

Supplies

18,093,931

Health

Care

Technology

-

2.0%

28,290

Veeva

Systems

Inc,

Class

A

(2)

4,751,023

Hotels,

Restaurants

&

Leisure

-

3.5%

56,620

Caesars

Entertainment

Inc

(2)

2,475,993

23,636

Darden

Restaurants

Inc

3,383,257

37,523

Planet

Fitness

Inc,

Class

A

(2)

2,457,006

Total

Hotels,

Restaurants

&

Leisure

8,316,256

Insurance

-

1.3%

9,347

Everest

Re

Group

Ltd

3,015,903

IT

Services

-

4.8%

12,100

EPAM

Systems

Inc

(2)

4,235,000

14,960

Gartner

Inc

(2)

4,516,723

14,128

MongoDB

Inc

(2)

2,585,848

Total

IT

Services

11,337,571

Leisure

Products

-

0.9%

116,309

Topgolf

Callaway

Brands

Corp

(2)

2,177,304

Life

Sciences

Tools

&

Services

-

4.8%

9,706

Bio-Techne

Corp

2,875,499

28,036

IQVIA

Holdings

Inc

(2)

5,878,308

13,830

Repligen

Corp

(2)

2,523,837

Total

Life

Sciences

Tools

&

Services

11,277,644

Machinery

-

3.0%

16,589

Chart

Industries

Inc

(2)

3,697,356

56,501

Donaldson

Co

Inc

3,245,983

Total

Machinery

6,943,339

Oil,

Gas

&

Consumable

Fuels

-

6.1%

103,870

Antero

Resources

Corp

(2)

3,807,874

30,030

Cheniere

Energy

Inc

5,297,592

21,342

Diamondback

Energy

Inc

3,353,042

7,424

Pioneer

Natural

Resources

Co

1,903,588

Total

Oil,

Gas

&

Consumable

Fuels

14,362,096

Professional

Services

-

2.5%

31,481

Verisk

Analytics

Inc

5,755,671

Semiconductors

&

Semiconductor

Equipment

-

5.6%

14,118

Enphase

Energy

Inc

(2)

4,334,226

80,911

Microchip

Technology

Inc

4,995,445

10,992

Monolithic

Power

Systems

Inc

3,731,235

Total

Semiconductors

&

Semiconductor

Equipment

13,060,906

45

Shares

Description

(1)

Value

Software

-

13.5%

17,968

CyberArk

Software

Ltd

(2)

$

2,819,359

39,006

Datadog

Inc,

Class

A

(2)

3,140,373

26,153

Elastic

NV

(2)

1,672,484

30,984

Five9

Inc

(2)

1,867,096

96,687

Jamf

Holding

Corp

(2)

2,288,581

12,249

Palo

Alto

Networks

Inc

(2)

2,101,806

45,163

Sprout

Social

Inc,

Class

A

(2)

2,724,684

19,303

Synopsys

Inc

(2)

5,647,093

56,403

Trade

Desk

Inc/The,

Class

A

(2)

3,002,896

10,676

Tyler

Technologies

Inc

(2)

3,451,871

19,576

Zscaler

Inc

(2)

3,016,661

Total

Software

31,732,904

Specialty

Retail

-

6.4%

45,873

Boot

Barn

Holdings

Inc

(2)

2,605,586

31,776

Five

Below

Inc

(2)

4,650,418

4,911

O'Reilly

Automotive

Inc

(2)

4,111,342

8,875

Ulta

Beauty

Inc

(2)

3,721,909

Total

Specialty

Retail

15,089,255

Textiles,

Apparel

&

Luxury

Goods

-

2.0%

14,349

Lululemon

Athletica

Inc

(2)

4,721,395

Trading

Companies

&

Distributors

-

1.4%

5,820

WW

Grainger

Inc

3,400,917

Total

Long-Term

Investments

(cost

$225,747,614)

231,081,192

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Value

SHORT-TERM

INVESTMENTS

-

 1.7% 

X

3,901,322

REPURCHASE

AGREEMENTS

-

1.7%

X

3,901,322

$

3,901

Repurchase

Agreement

with

Fixed

Income

Clearing

Corporation,

dated

10/31/22,

repurchase

price

$3,901,412,

collateralized

$3,977,100,

U.S.

Treasury

Government

Bonds,

4.25%,

due

5/15/39,

value

$3,979,431

0.830%

11/01/22

$

3,901,322

Total

Short-Term

Investments

(cost

$3,901,322)

3,901,322

Total

Investments

(cost

$

229,648,936

)

-

99

.9

%

234,982,514

Other

Assets

Less

Liabilities

-   0.1%

233,372

Net

Assets

-

100%

$

235,215,886

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.

ADR

American

Depositary

Receipt

MSCI

Morgan

Stanley

Capital

International

See

accompanying

notes

to

financial

statements

46

Nuveen

Mid

Cap

Value

Fund

Portfolio

of

Investments

October

31,

2022

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

96.8%  

X

456,569,206

COMMON

STOCKS

-

96.8%

X

456,569,206

Aerospace

&

Defense

-

1.5%

29,410

L3Harris

Technologies

Inc

$

7,248,683

Airlines

-

1.1%

114,928

Alaska

Air

Group

Inc

(2)

5,109,699

Banks

-

4.5%

59,636

East

West

Bancorp

Inc

4,268,149

169,816

Fifth

Third

Bancorp

6,060,733

32,945

First

Republic

Bank/CA

3,956,694

17,456

Signature

Bank/New

York

NY

2,767,300

59,577

Western

Alliance

Bancorp

4,001,787

Total

Banks

21,054,663

Biotechnology

-

1.5%

30,805

United

Therapeutics

Corp

(2)

7,101,477

Building

Products

-

2.8%

163,132

Carrier

Global

Corp

6,486,128

79,100

Owens

Corning

6,771,751

Total

Building

Products

13,257,879

Capital

Markets

-

3.7%

23,326

Ameriprise

Financial

Inc

7,210,533

86,136

Raymond

James

Financial

Inc

10,176,107

Total

Capital

Markets

17,386,640

Chemicals

-

2.3%

50,139

PPG

Industries

Inc

5,724,871

52,314

Westlake

Corp

5,056,148

Total

Chemicals

10,781,019

Communications

Equipment

-

2.5%

127,874

Ciena

Corp

(2)

6,125,165

73,932

Lumentum

Holdings

Inc

(2)

5,504,237

Total

Communications

Equipment

11,629,402

Construction

Materials

-

0.7%

124,020

Summit

Materials

Inc,

Class

A

(2)

3,267,927

Consumer

Finance

-

0.8%

102,931

OneMain

Holdings

Inc

3,969,019

Containers

&

Packaging

-

2.3%

322,619

Graphic

Packaging

Holding

Co

7,407,332

72,260

Sealed

Air

Corp

3,441,021

Total

Containers

&

Packaging

10,848,353

Diversified

Financial

Services

-

1.6%

113,955

Voya

Financial

Inc

7,789,964

47

Shares

Description

(1)

Value

Electric

Utilities

-

4.3%

124,592

Alliant

Energy

Corp

$

6,499,965

70,376

American

Electric

Power

Co

Inc

6,187,458

118,342

Xcel

Energy

Inc

7,705,247

Total

Electric

Utilities

20,392,670

Electrical

Equipment

-

1.8%

34,952

Hubbell

Inc

8,300,401

Electronic

Equipment,

Instruments

&

Components

-

2.7%

166,411

Avnet

Inc

6,688,058

64,769

TD

SYNNEX

Corp

5,927,011

Total

Electronic

Equipment,

Instruments

&

Components

12,615,069

Entertainment

-

1.2%

47,108

Take-Two

Interactive

Software

Inc

(2)

5,581,356

Equity

Real

Estate

Investment

Trusts

(REITs)

-

9.9%

420,586

Apple

Hospitality

REIT

Inc

7,200,432

38,276

AvalonBay

Communities

Inc

6,702,893

161,439

EPR

Properties

6,231,545

193,032

Invitation

Homes

Inc

6,117,184

164,795

National

Storage

Affiliates

Trust

7,030,155

101,656

Regency

Centers

Corp

6,151,205

234,562

STAG

Industrial

Inc

7,409,814

Total

Equity

Real

Estate

Investment

Trusts

(REITs)

46,843,228

Food

Products

-

1.2%

58,389

Bunge

Ltd

(2)

5,762,994

Health

Care

Equipment

&

Supplies

-

1.9%

134,157

Envista

Holdings

Corp

(2)

4,428,523

40,493

Zimmer

Biomet

Holdings

Inc

4,589,881

Total

Health

Care

Equipment

&

Supplies

9,018,404

Health

Care

Providers

&

Services

-

2.4%

57,428

Centene

Corp

(2)

4,888,846

218,582

Option

Care

Health

Inc

(2)

6,614,291

Total

Health

Care

Providers

&

Services

11,503,137

Hotels,

Restaurants

&

Leisure

-

2.3%

38,781

Darden

Restaurants

Inc

5,551,113

135,939

Travel

+

Leisure

Co

5,162,963

Total

Hotels,

Restaurants

&

Leisure

10,714,076

Household

Durables

-

1.5%

50,875

DR

Horton

Inc

3,911,270

24,158

Whirlpool

Corp

3,339,602

Total

Household

Durables

7,250,872

Insurance

-

5.1%

57,038

Allstate

Corp/The

7,201,048

112,446

Hartford

Financial

Services

Group

Inc

8,142,215

58,385

Reinsurance

Group

of

America

Inc

8,592,520

Total

Insurance

23,935,783

IT

Services

-

1.1%

25,774

VeriSign

Inc

(2)

5,166,656

Nuveen

Mid

Cap

Value

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

48

Shares

Description

(1)

Value

Leisure

Products

-

1.4%

91,535

Brunswick

Corp/DE

$

6,468,778

Machinery

-

6.1%

47,140

AGCO

Corp

5,853,374

71,295

Crane

Holdings

Co

7,153,740

90,297

PACCAR

Inc

8,743,459

24,824

Parker-Hannifin

Corp

7,214,351

Total

Machinery

28,964,924

Metals

&

Mining

-

2.1%

108,307

Alcoa

Corp

4,227,222

59,535

Steel

Dynamics

Inc

5,599,267

Total

Metals

&

Mining

9,826,489

Mortgage

Real

Estate

Investment

Trusts

(REITs)

-

1.0%

220,774

Starwood

Property

Trust

Inc

4,561,191

Multiline

Retail

-

0.8%

14,310

Dollar

General

Corp

3,649,766

Multi-Utilities

-

3.6%

101,178

Ameren

Corp

8,248,031

307,791

CenterPoint

Energy

Inc

8,805,900

Total

Multi-Utilities

17,053,931

Oil,

Gas

&

Consumable

Fuels

-

7.4%

139,263

Devon

Energy

Corp

10,771,993

61,157

Diamondback

Energy

Inc

9,608,376

170,800

EQT

Corp

7,146,272

218,338

Williams

Cos

Inc/The

7,146,203

Total

Oil,

Gas

&

Consumable

Fuels

34,672,844

Pharmaceuticals

-

1.3%

42,576

Jazz

Pharmaceuticals

PLC

(2)

6,122,003

Road

&

Rail

-

1.7%

85,591

TFI

International

Inc

7,791,349

Semiconductors

&

Semiconductor

Equipment

-

1.6%

86,212

Marvell

Technology

Inc

3,420,892

53,965

Wolfspeed

Inc

(2)

4,249,744

Total

Semiconductors

&

Semiconductor

Equipment

7,670,636

Software

-

3.0%

43,844

Check

Point

Software

Technologies

Ltd

(2)

5,665,960

12,661

Roper

Technologies

Inc

5,248,491

11,604

Synopsys

Inc

(2)

3,394,750

Total

Software

14,309,201

Specialty

Retail

-

2.6%

39,589

Advance

Auto

Parts

Inc

7,518,743

43,479

AutoNation

Inc

(2)

4,622,252

Total

Specialty

Retail

12,140,995

Textiles,

Apparel

&

Luxury

Goods

-

1.0%

155,906

Tapestry

Inc

4,939,102

49

Shares

Description

(1)

Value

Thrifts

&

Mortgage

Finance

-

0.9%

198,820

Radian

Group

Inc

$

4,149,373

Trading

Companies

&

Distributors

-

1.6%

56,030

WESCO

International

Inc

(2)

7,719,253

Total

Long-Term

Investments

(cost

$385,043,036)

456,569,206

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Value

SHORT-TERM

INVESTMENTS

-

 3.1% 

X

14,649,759

REPURCHASE

AGREEMENTS

-

3.1%

X

14,649,759

$

14,650

Repurchase

Agreement

with

Fixed

Income

Clearing

Corporation,

dated

10/31/22,

repurchase

price

$14,650,097,

collateralized

$14,934,100,

U.S.

Treasury

Government

Bonds,

4.25%,

due

5/15/39,

value

$14,942,851

0.830%

11/01/22

$

14,649,759

Total

Short-Term

Investments

(cost

$14,649,759)

14,649,759

Total

Investments

(cost

$

399,692,795

)

-

99

.9

%

471,218,965

Other

Assets

Less

Liabilities

-   0.1%

388,646

Net

Assets

-

100%

$

471,607,611

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.

REIT

Real

Estate

Investment

Trust

See

accompanying

notes

to

financial

statements

50

Nuveen

Small

Cap

Growth

Opportunities

Fund

Portfolio

of

Investments

October

31,

2022

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

98.9%  

X

171,914,434

COMMON

STOCKS

-

98.9%

X

171,914,434

Aerospace

&

Defense

-

0.9%

141,348

Kratos

Defense

&

Security

Solutions

Inc

(2)

$

1,566,136

Auto

Components

-

1.2%

35,858

Gentherm

Inc

(2)

2,094,824

Banks

-

3.0%

42,550

Ameris

Bancorp

2,191,750

40,372

Preferred

Bank/Los

Angeles

CA

3,103,396

Total

Banks

5,295,146

Beverages

-

1.6%

24,637

MGP

Ingredients

Inc

2,760,576

Biotechnology

-

4.6%

13,561

Apellis

Pharmaceuticals

Inc

(2)

820,305

28,781

Cytokinetics

Inc

(2)

1,256,578

47,526

Halozyme

Therapeutics

Inc

(2)

2,272,218

14,069

Intellia

Therapeutics

Inc

(2)

742,562

87,353

Iovance

Biotherapeutics

Inc

(2)

815,877

29,179

IVERIC

bio

Inc

(2)

697,962

4,340

Karuna

Therapeutics

Inc

(2)

951,935

9,719

Prometheus

Biosciences

Inc

(2)

510,442

Total

Biotechnology

8,067,879

Capital

Markets

-

1.4%

22,591

Evercore

Inc,

Class

A

2,374,314

Chemicals

-

2.4%

45,400

Avient

Corp

1,565,846

80,797

Livent

Corp

(2)

2,550,761

Total

Chemicals

4,116,607

Commercial

Services

&

Supplies

-

3.7%

38,526

Casella

Waste

Systems

Inc,

Class

A

(2)

3,151,812

23,699

Tetra

Tech

Inc

3,348,195

Total

Commercial

Services

&

Supplies

6,500,007

Construction

Materials

-

1.1%

73,760

Summit

Materials

Inc,

Class

A

(2)

1,943,576

Diversified

Consumer

Services

-

1.6%

136,191

PowerSchool

Holdings

Inc,

Class

A

(2)

2,723,820

Electrical

Equipment

-

2.6%

26,911

Atkore

Inc

(2)

2,564,618

105,862

Bloom

Energy

Corp,

Class

A

(2)

1,980,678

Total

Electrical

Equipment

4,545,296

Electronic

Equipment,

Instruments

&

Components

-

0.9%

44,111

Coherent

Corp

(2)

1,482,571

51

Shares

Description

(1)

Value

Entertainment

-

1.3%

29,456

World

Wrestling

Entertainment

Inc,

Class

A

$

2,323,784

Equity

Real

Estate

Investment

Trusts

(REITs)

-

2.7%

18,127

EastGroup

Properties

Inc

2,840,319

216,531

Summit

Hotel

Properties

Inc

1,870,828

Total

Equity

Real

Estate

Investment

Trusts

(REITs)

4,711,147

Health

Care

Equipment

&

Supplies

-

7.1%

38,975

AtriCure

Inc

(2)

1,641,627

45,722

Axonics

Inc

(2)

3,344,107

27,099

Establishment

Labs

Holdings

Inc

(2),(3)

1,528,113

26,908

Lantheus

Holdings

Inc

(2)

1,990,923

22,284

Omnicell

Inc

(2)

1,722,999

39,155

Tandem

Diabetes

Care

Inc

(2)

2,198,553

Total

Health

Care

Equipment

&

Supplies

12,426,322

Health

Care

Providers

&

Services

-

6.1%

26,685

Addus

HomeCare

Corp

(2)

2,733,078

24,378

Encompass

Health

Corp

1,327,138

25,214

Ensign

Group

Inc

2,263,713

40,679

HealthEquity

Inc

(2)

3,169,301

43,361

Surgery

Partners

Inc

(2)

1,178,985

Total

Health

Care

Providers

&

Services

10,672,215

Health

Care

Technology

-

1.7%

15,092

Inspire

Medical

Systems

Inc

(2)

2,942,185

Hotels,

Restaurants

&

Leisure

-

4.4%

152,625

Everi

Holdings

Inc

(2)

2,896,823

21,915

Planet

Fitness

Inc,

Class

A

(2)

1,434,994

33,302

Texas

Roadhouse

Inc

3,295,233

Total

Hotels,

Restaurants

&

Leisure

7,627,050

Household

Durables

-

0.9%

9,456

TopBuild

Corp

(2)

1,608,844

Insurance

-

2.7%

7,935

Kinsale

Capital

Group

Inc

2,500,874

24,756

Palomar

Holdings

Inc

(2)

2,202,294

Total

Insurance

4,703,168

IT

Services

-

1.5%

151,533

Verra

Mobility

Corp

(2)

2,586,668

Leisure

Products

-

1.3%

119,029

Topgolf

Callaway

Brands

Corp

(2)

2,228,223

Machinery

-

6.4%

19,211

Chart

Industries

Inc

(2)

4,281,748

29,490

ESCO

Technologies

Inc

2,541,153

82,333

Shyft

Group

Inc/The

1,892,012

36,816

SPX

Technologies

Inc

(2)

2,423,966

Total

Machinery

11,138,879

Media

-

1.1%

256,497

Magnite

Inc

(2)

1,869,863

Nuveen

Small

Cap

Growth

Opportunities

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

52

Shares

Description

(1)

Value

Multiline

Retail

-

1.4%

42,807

Ollie's

Bargain

Outlet

Holdings

Inc

(2)

$

2,397,192

Oil,

Gas

&

Consumable

Fuels

-

7.0%

74,106

Delek

US

Holdings

Inc

2,197,984

61,843

Matador

Resources

Co

4,109,467

85,721

Northern

Oil

and

Gas

Inc

2,926,515

69,666

Ranger

Oil

Corp,

Class

A

2,849,340

Total

Oil,

Gas

&

Consumable

Fuels

12,083,306

Personal

Products

-

1.6%

113,590

BellRing

Brands

Inc

(2)

2,751,150

Pharmaceuticals

-

2.4%

16,035

Amylyx

Pharmaceuticals

Inc

(2)

571,968

18,737

Intra-Cellular

Therapies

Inc

(2)

855,719

54,445

Pacira

BioSciences

Inc

(2)

2,818,073

Total

Pharmaceuticals

4,245,760

Professional

Services

-

1.5%

21,360

ICF

International

Inc

2,555,297

Road

&

Rail

-

1.5%

12,789

Saia

Inc

(2)

2,543,221

Semiconductors

&

Semiconductor

Equipment

-

6.5%

16,438

Impinj

Inc

(2)

1,884,288

50,927

Lattice

Semiconductor

Corp

(2)

2,470,469

64,206

MACOM

Technology

Solutions

Holdings

Inc

(2)

3,715,601

27,902

Silicon

Laboratories

Inc

(2)

3,206,498

Total

Semiconductors

&

Semiconductor

Equipment

11,276,856

Software

-

11.1%

42,745

Asana

Inc,

Class

A

(2),(3)

880,547

34,301

Blackline

Inc

(2)

1,920,856

35,861

CommVault

Systems

Inc

(2)

2,183,577

12,010

CyberArk

Software

Ltd

(2)

1,884,489

42,038

Envestnet

Inc

(2)

2,072,894

79,327

Jamf

Holding

Corp

(2)

1,877,670

39,763

Q2

Holdings

Inc

(2)

1,234,244

35,540

Sprout

Social

Inc,

Class

A

(2)

2,144,128

66,805

Tenable

Holdings

Inc

(2)

2,714,955

591,081

Videopropulsion

Inc

(2),(4)

591

29,488

Workiva

Inc

(2)

2,294,461

Total

Software

19,208,412

Specialty

Retail

-

1.2%

38,067

Boot

Barn

Holdings

Inc

(2)

2,162,206

Textiles,

Apparel

&

Luxury

Goods

-

1.1%

64,427

Steven

Madden

Ltd

1,924,434

53

Shares

Description

(1)

Value

Trading

Companies

&

Distributors

-

1.4%

19,758

Applied

Industrial

Technologies

Inc

$

2,457,500

Total

Long-Term

Investments

(cost

$155,150,462)

171,914,434

Shares

Description

(1)

Coupon

Value

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

  1.3

%

X

2,240,983

MONEY

MARKET

FUNDS

-

1.3%

X

2,240,983

2,240,983

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

(5)

3.120%(6)

$

2,240,983

Total

Investments

Purchased

with

Collateral

from

Securities

Lending

(cost

$2,240,983)

2,240,983

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Value

SHORT-TERM

INVESTMENTS

-

 0.5% 

940,356

REPURCHASE

AGREEMENTS

-

0.5%

940,356

$

940

Repurchase

Agreement

with

Fixed

Income

Clearing

Corporation,

dated

10/31/22,

repurchase

price

$940,377,

collateralized

$958,700,

U.S.

Treasury

Government

Bonds,

4.25%,

due

5/15/39,

value

$959,262

0.830%

11/01/22

$

940,356

Total

Short-Term

Investments

(cost

$940,356)

940,356

Total

Investments

(cost

$

158,331,801

)

-

100

.7

%

175,095,773

Other

Assets

Less

Liabilities

-   (0.7)%

(

1,291,312

)

Net

Assets

-

100%

$

173,804,461

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

$2,183,756.

(4)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(5)

The

Fund

may

loan

securities

representing

up

to

one

third

of

the

market

value

of

its

total

assets

(which

includes

collateral

for

securities

on

loan)

to

broker

dealers,

banks,

and

other

institutions.

The

collateral

maintained

by

the

Fund

shall

have

a

market

value,

at

the

inception

of

each

loan,

equal

to

not

less

than

100%

of

the

market

value

of

the

loaned

securities.

The

cash

collateral

received

by

the

Fund

is

invested

in

this

money

market

fund.

(6)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

See

accompanying

notes

to

financial

statements

54

Nuveen

Small

Cap

Select

Fund

Portfolio

of

Investments

October

31,

2022

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

99.5%  

X

111,056,978

COMMON

STOCKS

-

98.5%

X

111,056,978

Aerospace

&

Defense

-

1.2%

126,239

Kratos

Defense

&

Security

Solutions

Inc

(2)

$

1,398,728

Auto

Components

-

1.4%

95,939

Dana

Inc

1,531,186

Banks

-

10.3%

32,856

Banner

Corp

2,455,986

72,167

Home

BancShares

Inc/AR

1,839,537

15,505

Pinnacle

Financial

Partners

Inc

1,286,760

16,361

Preferred

Bank/Los

Angeles

CA

1,257,670

12,360

SouthState

Corp

1,117,715

37,773

Veritex

Holdings

Inc

1,192,871

26,559

Wintrust

Financial

Corp

2,486,454

Total

Banks

11,636,993

Beverages

-

1.5%

15,542

MGP

Ingredients

Inc

1,741,481

Biotechnology

-

2.6%

5,327

Apellis

Pharmaceuticals

Inc

(2)

322,230

7,788

Cytokinetics

Inc

(2)

340,024

18,692

Halozyme

Therapeutics

Inc

(2)

893,665

7,889

Intellia

Therapeutics

Inc

(2)

416,381

15,312

IVERIC

bio

Inc

(2)

366,263

1,378

Karuna

Therapeutics

Inc

(2)

302,251

5,100

Prometheus

Biosciences

Inc

(2)

267,852

Total

Biotechnology

2,908,666

Capital

Markets

-

2.5%

14,120

Evercore

Inc,

Class

A

1,484,012

10,796

Piper

Sandler

Cos

1,381,564

Total

Capital

Markets

2,865,576

Chemicals

-

1.2%

39,051

Avient

Corp

1,346,869

Construction

&

Engineering

-

2.7%

15,983

Comfort

Systems

USA

Inc

1,970,384

11,608

MYR

Group

Inc

(2)

1,015,816

Total

Construction

&

Engineering

2,986,200

Construction

Materials

-

1.3%

56,997

Summit

Materials

Inc,

Class

A

(2)

1,501,871

Containers

&

Packaging

-

1.4%

33,503

Silgan

Holdings

Inc

1,586,702

Diversified

Consumer

Services

-

1.2%

66,957

PowerSchool

Holdings

Inc,

Class

A

(2)

1,339,140

55

Shares

Description

(1)

Value

Electrical

Equipment

-

2.5%

86,903

Bloom

Energy

Corp,

Class

A

(2)

$

1,625,955

9,849

Regal

Rexnord

Corp

1,246,293

Total

Electrical

Equipment

2,872,248

Electronic

Equipment,

Instruments

&

Components

-

1.1%

80,027

TTM

Technologies

Inc

(2)

1,225,213

Equity

Real

Estate

Investment

Trusts

(REITs)

-

4.2%

103,946

Brandywine

Realty

Trust

681,886

10,004

EastGroup

Properties

Inc

1,567,527

43,479

STAG

Industrial

Inc

1,373,501

132,028

Summit

Hotel

Properties

Inc

1,140,722

Total

Equity

Real

Estate

Investment

Trusts

(REITs)

4,763,636

Gas

Utilities

-

1.6%

25,521

Spire

Inc

1,781,621

Health

Care

Equipment

&

Supplies

-

5.3%

28,873

AtriCure

Inc

(2)

1,216,131

23,265

Axonics

Inc

(2)

1,701,602

14,503

Establishment

Labs

Holdings

Inc

(2),(3)

817,824

12,279

Omnicell

Inc

(2)

949,413

22,821

Tandem

Diabetes

Care

Inc

(2)

1,281,399

Total

Health

Care

Equipment

&

Supplies

5,966,369

Health

Care

Providers

&

Services

-

6.6%

15,927

Encompass

Health

Corp

867,066

25,616

HealthEquity

Inc

(2)

1,995,743

51,431

Option

Care

Health

Inc

(2)

1,556,302

42,258

Select

Medical

Holdings

Corp

1,085,185

28,000

Surgery

Partners

Inc

(2)

761,320

25,824

Tenet

Healthcare

Corp

(2)

1,145,553

Total

Health

Care

Providers

&

Services

7,411,169

Hotels,

Restaurants

&

Leisure

-

3.0%

72,604

Everi

Holdings

Inc

(2)

1,378,024

20,292

Texas

Roadhouse

Inc

2,007,893

Total

Hotels,

Restaurants

&

Leisure

3,385,917

Insurance

-

1.4%

10,749

Primerica

Inc

1,555,380

Interactive

Media

&

Services

-

1.2%

17,103

Ziff

Davis

Inc

(2)

1,323,601

IT

Services

-

1.2%

80,651

Verra

Mobility

Corp

(2)

1,376,713

Leisure

Products

-

1.3%

77,724

Topgolf

Callaway

Brands

Corp

(2)

1,454,993

Machinery

-

4.2%

16,505

EnPro

Industries

Inc

1,757,782

15,115

ESCO

Technologies

Inc

1,302,460

24,857

SPX

Technologies

Inc

(2)

1,636,585

Total

Machinery

4,696,827

Nuveen

Small

Cap

Select

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

56

Shares

Description

(1)

Value

Marine

-

1.6%

26,400

Kirby

Corp

(2)

$

1,841,400

Media

-

1.1%

164,464

Magnite

Inc

(2)

1,198,943

Metals

&

Mining

-

1.0%

46,243

Lithium

Americas

Corp

(2),(3)

1,150,526

Mortgage

Real

Estate

Investment

Trusts

(REITs)

-

1.0%

103,236

Ladder

Capital

Corp

1,101,528

Multiline

Retail

-

1.5%

29,414

Ollie's

Bargain

Outlet

Holdings

Inc

(2)

1,647,184

Multi-Utilities

-

1.4%

24,723

Black

Hills

Corp

1,616,143

Oil,

Gas

&

Consumable

Fuels

-

6.9%

51,722

Delek

US

Holdings

Inc

1,534,075

35,169

Matador

Resources

Co

2,336,980

68,666

Northern

Oil

and

Gas

Inc

2,344,257

63,119

Peabody

Energy

Corp

(2)

1,508,544

Total

Oil,

Gas

&

Consumable

Fuels

7,723,856

Personal

Products

-

2.2%

76,768

BellRing

Brands

Inc

(2)

1,859,321

15,553

elf

Beauty

Inc

(2)

672,823

Total

Personal

Products

2,532,144

Pharmaceuticals

-

3.1%

10,272

Amylyx

Pharmaceuticals

Inc

(2)

366,402

6,857

Intra-Cellular

Therapies

Inc

(2)

313,159

26,025

Pacira

BioSciences

Inc

(2)

1,347,054

26,752

Prestige

Consumer

Healthcare

Inc

(2)

1,457,449

Total

Pharmaceuticals

3,484,064

Professional

Services

-

2.7%

17,681

ASGN

Inc

(2)

1,498,995

13,271

ICF

International

Inc

1,587,610

Total

Professional

Services

3,086,605

Semiconductors

&

Semiconductor

Equipment

-

4.1%

11,129

Impinj

Inc

(2)

1,275,717

19,563

Lattice

Semiconductor

Corp

(2)

949,001

22,588

MACOM

Technology

Solutions

Holdings

Inc

(2)

1,307,168

9,478

Silicon

Laboratories

Inc

(2)

1,089,212

Total

Semiconductors

&

Semiconductor

Equipment

4,621,098

Software

-

7.3%

26,426

CommVault

Systems

Inc

(2)

1,609,079

8,026

CyberArk

Software

Ltd

(2)

1,259,359

48,939

Jamf

Holding

Corp

(2)

1,158,386

17,572

Sprout

Social

Inc,

Class

A

(2)

1,060,119

44,200

Tenable

Holdings

Inc

(2)

1,796,288

17,791

Workiva

Inc

(2)

1,384,318

Total

Software

8,267,549

57

Shares

Description

(1)

Value

Specialty

Retail

-

1.2%

23,809

Boot

Barn

Holdings

Inc

(2)

$

1,352,351

Textiles,

Apparel

&

Luxury

Goods

-

1.3%

48,343

Steven

Madden

Ltd

1,444,005

Trading

Companies

&

Distributors

-

1.2%

10,713

Applied

Industrial

Technologies

Inc

1,332,483

Total

Common

Stocks

(cost

$100,277,143)

111,056,978

Shares

Description

(1)

Value

X

1,111,243

EXCHANGE-TRADED

FUNDS

-

1.0%

X

1,111,243

13,527

SPDR

S&P

Biotech

ETF

(2),(3)

$

1,111,243

Total

Exchange-Traded

Funds

(cost

$1,103,710)

1,111,243

Total

Long-Term

Investments

(cost

$101,380,853)

112,168,221

Shares

Description

(1)

Coupon

Value

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

  2.8

%

3,151,248

MONEY

MARKET

FUNDS

-

2.8%

X

3,151,248

3,151,248

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

(4)

3.120%(5)

$

3,151,248

Total

Investments

Purchased

with

Collateral

from

Securities

Lending

(cost

$3,151,248)

3,151,248

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Value

SHORT-TERM

INVESTMENTS

-

 0.7% 

749,835

REPURCHASE

AGREEMENTS

-

0.7%

749,835

$

750

Repurchase

Agreement

with

Fixed

Income

Clearing

Corporation,

dated

10/31/22,

repurchase

price

$749,852,

collateralized

$764,400,

U.S.

Treasury

Government

Bonds,

4.25%,

due

5/15/39,

value

$764,848

0.830%

11/01/22

$

749,835

Total

Short-Term

Investments

(cost

$749,835)

749,835

Total

Investments

(cost

$

105,281,936

)

-

103

.0

%

116,069,304

Other

Assets

Less

Liabilities

-   (3.0)%

(

3,343,106

)

Net

Assets

-

100%

$

112,726,198

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

$3,040,256.

(4)

The

Fund

may

loan

securities

representing

up

to

one

third

of

the

market

value

of

its

total

assets

(which

includes

collateral

for

securities

on

loan)

to

broker

dealers,

banks,

and

other

institutions.

The

collateral

maintained

by

the

Fund

shall

have

a

market

value,

at

the

inception

of

each

loan,

equal

to

not

less

than

100%

of

the

market

value

of

the

loaned

securities.

The

cash

collateral

received

by

the

Fund

is

invested

in

this

money

market

fund.

(5)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

ETF

Exchange-Traded

Fund

S&P

Standard

&

Poor's

SPDR

Standard

&

Poor's

Depositary

Receipt

See

accompanying

notes

to

financial

statements

58

Nuveen

Small

Cap

Value

Fund

Portfolio

of

Investments

October

31,

2022

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

99.0%  

X

543,124,419

COMMON

STOCKS

-

99.0%

X

543,124,419

Aerospace

&

Defense

-

1.4%

167,738

Parsons

Corp

(2)

$

7,863,557

Air

Freight

&

Logistics

-

1.7%

320,564

Air

Transport

Services

Group

Inc

(2)

9,360,469

Auto

Components

-

1.0%

343,059

Dana

Inc

5,475,222

Banks

-

18.8%

185,744

Ameris

Bancorp

9,567,674

158,704

Banner

Corp

11,863,124

198,492

Cathay

General

Bancorp

9,051,235

323,065

ConnectOne

Bancorp

Inc

8,092,778

226,433

First

Interstate

BancSystem

Inc,

Class

A

10,327,609

203,466

First

Merchants

Corp

9,135,623

193,428

Heartland

Financial

USA

Inc

9,539,869

395,153

OceanFirst

Financial

Corp

8,922,555

98,239

Pinnacle

Financial

Partners

Inc

8,152,855

128,821

Preferred

Bank/Los

Angeles

CA

9,902,470

92,577

Wintrust

Financial

Corp

8,667,059

Total

Banks

103,222,851

Beverages

-

0.8%

283,603

Primo

Water

Corp

4,137,768

Biotechnology

-

1.9%

32,290

United

Therapeutics

Corp

(2)

7,443,814

305,500

Vanda

Pharmaceuticals

Inc

(2)

3,198,585

Total

Biotechnology

10,642,399

Building

Products

-

1.4%

331,093

Resideo

Technologies

Inc

(2)

7,820,417

Capital

Markets

-

2.7%

132,943

Federated

Hermes

Inc

4,619,769

67,713

Piper

Sandler

Cos

8,665,233

24,017

Stifel

Financial

Corp

1,485,932

Total

Capital

Markets

14,770,934

Chemicals

-

3.4%

59,518

Cabot

Corp

4,373,383

868,880

Ecovyst

Inc

8,645,356

107,103

Minerals

Technologies

Inc

5,891,736

Total

Chemicals

18,910,475

Commercial

Services

&

Supplies

-

1.9%

257,828

Deluxe

Corp

4,738,879

160,786

SP

Plus

Corp

(2)

5,953,905

Total

Commercial

Services

&

Supplies

10,692,784

Communications

Equipment

-

0.3%

67,648

ADTRAN

Holdings

Inc

1,519,374

59

Shares

Description

(1)

Value

Construction

&

Engineering

-

1.4%

55,439

EMCOR

Group

Inc

$

7,822,443

Construction

Materials

-

0.5%

113,041

Summit

Materials

Inc,

Class

A

(2)

2,978,630

Consumer

Finance

-

0.6%

91,157

OneMain

Holdings

Inc

3,515,014

Electric

Utilities

-

1.4%

109,929

Otter

Tail

Corp

7,411,413

Electrical

Equipment

-

1.6%

239,600

nVent

Electric

PLC

8,745,400

Electronic

Equipment,

Instruments

&

Components

-

2.5%

181,135

Avnet

Inc

7,279,816

419,036

TTM

Technologies

Inc

(2)

6,415,441

Total

Electronic

Equipment,

Instruments

&

Components

13,695,257

Energy

Equipment

&

Services

-

1.2%

234,455

ChampionX

Corp

6,710,102

Equity

Real

Estate

Investment

Trusts

(REITs)

-

8.3%

239,332

Apple

Hospitality

REIT

Inc

4,097,364

80,483

Centerspace

5,577,472

104,762

EPR

Properties

4,043,813

640,722

Global

Medical

REIT

Inc

5,856,199

724,979

LXP

Industrial

Trust

7,017,797

570,670

RLJ

Lodging

Trust

6,945,054

565,073

RPT

Realty

5,255,179

205,768

STAG

Industrial

Inc

6,500,211

Total

Equity

Real

Estate

Investment

Trusts

(REITs)

45,293,089

Food

Products

-

1.1%

231,301

Hostess

Brands

Inc

(2)

6,124,850

Gas

Utilities

-

2.7%

88,110

ONE

Gas

Inc

6,826,763

116,897

Spire

Inc

8,160,579

Total

Gas

Utilities

14,987,342

Health

Care

Equipment

&

Supplies

-

1.6%

102,697

Enovis

Corp

(2)

5,078,367

87,510

NuVasive

Inc

(2)

3,861,816

Total

Health

Care

Equipment

&

Supplies

8,940,183

Health

Care

Providers

&

Services

-

2.8%

89,598

Acadia

Healthcare

Co

Inc

(2)

7,284,317

260,746

Option

Care

Health

Inc

(2)

7,890,174

Total

Health

Care

Providers

&

Services

15,174,491

Hotels,

Restaurants

&

Leisure

-

2.9%

107,190

Dine

Brands

Global

Inc

7,727,327

54,537

Marriott

Vacations

Worldwide

Corp

8,058,387

Total

Hotels,

Restaurants

&

Leisure

15,785,714

Nuveen

Small

Cap

Value

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

60

Shares

Description

(1)

Value

Household

Durables

-

1.6%

237,322

La-Z-Boy

Inc

$

5,878,466

72,431

M/I

Homes

Inc

(2)

3,005,162

Total

Household

Durables

8,883,628

Insurance

-

3.0%

213,904

American

Equity

Investment

Life

Holding

Co

9,214,984

294,836

James

River

Group

Holdings

Ltd

7,450,506

Total

Insurance

16,665,490

Interactive

Media

&

Services

-

0.8%

55,266

Ziff

Davis

Inc

(2)

4,277,036

IT

Services

-

2.2%

55,331

Maximus

Inc

3,412,263

432,888

TaskUS

Inc,

Class

A

(2),(3)

8,740,008

Total

IT

Services

12,152,271

Leisure

Products

-

1.7%

42,544

Brunswick

Corp/DE

3,006,584

332,284

Topgolf

Callaway

Brands

Corp

(2)

6,220,357

Total

Leisure

Products

9,226,941

Machinery

-

1.5%

189,876

Hillenbrand

Inc

8,388,722

Metals

&

Mining

-

1.5%

176,132

Commercial

Metals

Co

8,014,006

Mortgage

Real

Estate

Investment

Trusts

(REITs)

-

1.3%

644,540

Ladder

Capital

Corp

6,877,242

Multiline

Retail

-

0.5%

48,270

Ollie's

Bargain

Outlet

Holdings

Inc

(2)

2,703,120

Multi-Utilities

-

1.4%

115,468

Black

Hills

Corp

7,548,143

Oil,

Gas

&

Consumable

Fuels

-

6.6%

191,599

Brigham

Minerals

Inc,

Class

A

5,939,569

542,075

CNX

Resources

Corp

(2)

9,112,281

191,912

Excelerate

Energy

Inc,

Class

A

5,300,609

304,188

Magnolia

Oil

&

Gas

Corp,

Class

A

7,811,548

239,370

Northern

Oil

and

Gas

Inc

8,172,092

Total

Oil,

Gas

&

Consumable

Fuels

36,336,099

Pharmaceuticals

-

1.3%

127,367

Prestige

Consumer

Healthcare

Inc

(2)

6,938,954

Professional

Services

-

1.4%

139,589

Korn

Ferry

7,759,752

Real

Estate

Management

&

Development

-

1.1%

347,852

Kennedy-Wilson

Holdings

Inc

5,777,822

Road

&

Rail

-

1.2%

294,824

Schneider

National

Inc,

Class

B

6,556,886

61

Shares

Description

(1)

Value

Semiconductors

&

Semiconductor

Equipment

-

1.6%

126,438

Ultra

Clean

Holdings

Inc

(2)

$

3,933,486

254,356

Veeco

Instruments

Inc

(2)

4,636,910

Total

Semiconductors

&

Semiconductor

Equipment

8,570,396

Software

-

1.1%

170,121

Verint

Systems

Inc

(2)

6,027,387

Specialty

Retail

-

1.7%

67,208

Genesco

Inc

(2)

3,161,464

34,425

Group

1

Automotive

Inc

5,955,525

Total

Specialty

Retail

9,116,989

Technology

Hardware,

Storage

&

Peripherals

-

0.7%

263,023

Stratasys

Ltd

(2)

3,805,943

Thrifts

&

Mortgage

Finance

-

1.5%

388,700

Radian

Group

Inc

8,112,169

Trading

Companies

&

Distributors

-

1.4%

56,509

WESCO

International

Inc

(2)

7,785,245

Total

Long-Term

Investments

(cost

$461,055,030)

543,124,419

Shares

Description

(1)

Coupon

Value

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

-

  0.3

%

X

1,822,883

MONEY

MARKET

FUNDS

-

0.3%

X

1,822,883

1,822,883

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

(4)

3.120%(5)

$

1,822,883

Total

Investments

Purchased

with

Collateral

from

Securities

Lending

(cost

$1,822,883)

1,822,883

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Value

SHORT-TERM

INVESTMENTS

-

 1.1% 

5,861,849

REPURCHASE

AGREEMENTS

-

1.1%

5,861,849

$

5,862

Repurchase

Agreement

with

Fixed

Income

Clearing

Corporation,

dated

10/31/22,

repurchase

price

$5,861,984,

collateralized

$5,975,600,

U.S.

Treasury

Government

Bonds,

4.25%,

due

5/15/39,

value

$5,979,102

0.830%

11/01/22

$

5,861,849

Total

Short-Term

Investments

(cost

$5,861,849)

5,861,849

Total

Investments

(cost

$

468,739,762

)

-

100

.4

%

550,809,151

Other

Assets

Less

Liabilities

-   (0.4)%

(

2,231,589

)

Net

Assets

-

100%

$

548,577,562

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

$1,707,266.

(4)

The

Fund

may

loan

securities

representing

up

to

one

third

of

the

market

value

of

its

total

assets

(which

includes

collateral

for

securities

on

loan)

to

broker

dealers,

banks,

and

other

institutions.

The

collateral

maintained

by

the

Fund

shall

have

a

market

value,

at

the

inception

of

each

loan,

equal

to

not

less

than

100%

of

the

market

value

of

the

loaned

securities.

The

cash

collateral

received

by

the

Fund

is

invested

in

this

money

market

fund.

(5)

The

rate

shown

is

the

one-day

yield

as

of

the

end

of

the

reporting

period.

REIT

Real

Estate

Investment

Trust

See

accompanying

notes

to

financial

statements

Statement

of

Assets

and

Liabilities

October

31,

2022

See

accompanying

notes

to

financial

statements.

62

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Small

Cap

Growth

Opportunities

Assets

Long-term

investments,

at

value

†‡

$

3,338,136,551‌

$

34,207,016‌

$

231,081,192‌

$

456,569,206‌

$

171,914,434‌

Investments

purchased

with

collateral

from

securities

lending,

at

value

(cost

approximates

value)

–‌

–‌

–‌

–‌

2,240,983‌

Short-term

investments,

at

value

◊

–‌

112,208‌

3,901,322‌

14,649,759‌

940,356‌

Receivable

for

dividends

11,684,161‌

72,718‌

28,600‌

277,535‌

–‌

Receivable

for

interest

–‌

3‌

90‌

338‌

21‌

Receivable

for

investments

sold

80,599,458‌

–‌

2,182,272‌

–‌

2,127,868‌

Receivable

for

reclaims

39,200‌

–‌

–‌

–‌

–‌

Receivable

for

reimbursement

from

Adviser

401,903‌

5,546‌

71,077‌

50,748‌

161,393‌

Receivable

for

shares

sold

54,898‌

6,487‌

147,587‌

758,739‌

406,234‌

Other

assets

296,883‌

26,835‌

101,350‌

68,561‌

35,988‌

Total

assets

3,431,213,054‌

34,430,813‌

237,513,490‌

472,374,886‌

177,827,277‌

Liabilities

Cash

overdraft

17,352,601‌

–‌

–‌

–‌

–‌

Payable

for

collateral

from

securities

lending

–‌

–‌

–‌

–‌

2,240,983‌

Payable

for

investments

purchased

-

regular

settlement

–‌

–‌

1,810,475‌

–‌

1,306,410‌

Payable

for

shares

redeemed

46,504,961‌

14,414‌

73,858‌

163,709‌

147,161‌

Accrued

expenses:

Custodian

fees

291,221‌

23,029‌

49,115‌

44,921‌

44,682‌

Management

fees

1,738,088‌

14,792‌

147,624‌

264,278‌

112,602‌

Directors

fees

285,952‌

468‌

71,091‌

19,458‌

3,542‌

Professional

fees

94,236‌

19,189‌

24,082‌

27,016‌

22,842‌

Shareholder

reporting

expenses

44,437‌

5,076‌

14,119‌

27,771‌

48,405‌

Shareholder

servicing

agent

fees

266,142‌

4,009‌

78,247‌

202,563‌

87,990‌

12b-1

distribution

and

service

fees

87,927‌

5,938‌

28,993‌

17,559‌

8,199‌

Other

4,541‌

—‌

—‌

—‌

—‌

Total

liabilities

66,670,106‌

86,915‌

2,297,604‌

767,275‌

4,022,816‌

Net

assets

$

3,364,542,948‌

$

34,343,898‌

$

235,215,886‌

$

471,607,611‌

$

173,804,461‌

†

Long-term

investments,

cost

$

3,015,434,075‌

$

30,858,997‌

$

225,747,614‌

$

385,043,036‌

$

155,150,462‌

◊

Short-term

investments,

cost

$

—‌

$

112,208‌

$

3,901,322‌

$

14,649,759‌

$

940,356‌

‡

Includes

securities

loaned

of

$

—‌

$

—‌

$

—‌

$

—‌

$

2,183,756‌

Statement

of

Assets

and

Liabilities

(continued)

See

accompanying

notes

to

financial

statements.

63

Small

Cap

Select

Small

Cap

Value

Assets

Long-term

investments,

at

value

†‡

$

112,168,221‌

$

543,124,419‌

Investments

purchased

with

collateral

from

securities

lending,

at

value

(cost

approximates

value)

3,151,248‌

1,822,883‌

Short-term

investments,

at

value

◊

749,835‌

5,861,849‌

Receivable

for

dividends

19,747‌

193,786‌

Receivable

for

interest

17‌

135‌

Receivable

for

investments

sold

1,031,226‌

–‌

Receivable

for

reclaims

–‌

2,744‌

Receivable

for

reimbursement

from

Adviser

38,137‌

171,639‌

Receivable

for

shares

sold

49,928‌

687,140‌

Other

assets

51,305‌

88,320‌

Total

assets

117,259,664‌

551,952,915‌

Liabilities

Payable

for

collateral

from

securities

lending

3,151,248‌

1,822,883‌

Payable

for

investments

purchased

-

regular

settlement

1,097,584‌

–‌

Payable

for

shares

redeemed

75,140‌

772,042‌

Accrued

expenses:

Custodian

fees

34,234‌

78,848‌

Management

fees

66,045‌

324,095‌

Directors

fees

21,020‌

54,609‌

Professional

fees

21,102‌

31,177‌

Shareholder

reporting

expenses

13,071‌

63,716‌

Shareholder

servicing

agent

fees

42,608‌

186,963‌

12b-1

distribution

and

service

fees

11,414‌

39,727‌

Other

—‌

1,293‌

Total

liabilities

4,533,466‌

3,375,353‌

Net

assets

$

112,726,198‌

$

548,577,562‌

†

Long-term

investments,

cost

$

101,380,853‌

$

461,055,030‌

◊

Short-term

investments,

cost

$

749,835‌

$

5,861,849‌

‡

Includes

securities

loaned

of

$

3,040,256‌

$

1,707,266‌

Statement

of

Assets

and

Liabilities

(continued)

See

accompanying

notes

to

financial

statements.

64

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Small

Cap

Growth

Opportunities

Class

A

Shares

Net

Assets

$

390,218,885

$

23,156,517

$

142,840,307

$

63,992,041

$

41,158,887

Shares

outstanding

27,627,486

744,297

7,352,955

1,276,642

2,053,106

Net

asset

value

("NAV")

per

share

$

14.12

$

31.11

$

19.43

$

50.13

$

20.05

Maximum

sales

charge

5.75%

5.75%

5.75%

5.75%

5.75%

Offering

price

per

share

(NAV

per

share

plus

maximum

sales

charge)

$

14.98

$

33.01

$

20.62

$

53.19

$

21.27

Class

C

Shares

Net

Assets

$

11,931,126

$

1,333,793

$

—

$

5,551,735

$

—

Shares

outstanding

864,287

48,063

—

119,692

—

NAV

and

offering

price

per

share

$

13.80

$

27.75

$

—

$

46.38

$

—

Class

R6

Shares

Net

Assets

$

2,619,891,187

$

—

$

20,897,382

$

32,383,374

$

644,017

Shares

outstanding

180,995,424

—

684,697

638,627

24,114

NAV

and

offering

price

per

share

$

14.47

$

—

$

30.52

$

50.71

$

26.71

Class

I

Shares

Net

Assets

$

342,501,750

$

9,853,588

$

71,478,197

$

369,680,461

$

132,001,557

Shares

outstanding

23,880,315

312,322

2,402,685

7,322,074

5,010,897

NAV

and

offering

price

per

share

$

14.34

$

31.55

$

29.75

$

50.49

$

26.34

Fund

level

net

assets

consist

of:

Capital

paid-in

$

2,849,122,213

$

29,069,463

$

265,887,918

$

373,334,030

$

187,872,664

Total

distributable

earnings

(loss)

515,420,735

5,274,435

(30,672,032)

98,273,581

(14,068,203)

Fund

level

net

assets

$

3,364,542,948

$

34,343,898

$

235,215,886

$

471,607,611

$

173,804,461

Authorized

shares

-

per

class

2

billion

2

billion

2

billion

2

billion

2

billion

Par

value

per

share

$  

0.0001

$  

0.0001

$  

0.0001

$  

0.0001

$  

0.0001

Statement

of

Assets

and

Liabilities

(continued)

See

accompanying

notes

to

financial

statements.

65

Small

Cap

Select

Small

Cap

Value

Class

A

Shares

Net

Assets

$

56,475,857

$

113,226,655

Shares

outstanding

6,915,152

4,268,679

Net

asset

value

("NAV")

per

share

$

8.17

$

26.52

Maximum

sales

charge

5.75%

5.75%

Offering

price

per

share

(NAV

per

share

plus

maximum

sales

charge)

$

8.67

$

28.14

Class

C

Shares

Net

Assets

$

—

$

21,592,435

Shares

outstanding

—

982,135

NAV

and

offering

price

per

share

$

—

$

21.99

Class

R6

Shares

Net

Assets

$

3,135,012

$

152,177,675

Shares

outstanding

265,620

5,483,461

NAV

and

offering

price

per

share

$

11.80

$

27.75

Class

I

Shares

Net

Assets

$

53,115,329

$

261,580,797

Shares

outstanding

4,520,611

9,486,934

NAV

and

offering

price

per

share

$

11.75

$

27.57

Fund

level

net

assets

consist

of:

Capital

paid-in

$

105,636,545

$

682,105,310

Total

distributable

earnings

(loss)

7,089,653

(133,527,748)

Fund

level

net

assets

$

112,726,198

$

548,577,562

Authorized

shares

-

per

class

2

billion

2

billion

Par

value

per

share

$  

0.0001

$  

0.0001

Statement

of

Operations

October

31,

2022

See

accompanying

notes

to

financial

statements.

66

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Small

Cap

Growth

Opportunities

Investment

Income

Dividends

$

92,502,869‌

$

653,269‌

$

1,567,050‌

$

9,375,980‌

$

808,551‌

Interest

37,598‌

266‌

5,260‌

17,021‌

3,583‌

Securities

lending

income,

net

—‌

24‌

2,621‌

—‌

8,603‌

Other

income

1,168,325‌

15,907‌

163,743‌

102,036‌

314,298‌

Tax

withheld

(

96,797‌

)

(

185‌

)

(

5,846‌

)

(

12,418‌

)

—‌

Total

Investment

Income

93,611,995‌

669,281‌

1,732,828‌

9,482,619‌

1,135,035‌

Expenses

–

–

–

–

–

Management

fees

22,198,491‌

296,681‌

2,395,759‌

3,338,048‌

1,994,822‌

12b-1

service

fees

-

Class

A

Shares

1,025,145‌

67,686‌

433,661‌

172,853‌

113,194‌

12b-1

distribution

and

service

fees

-

Class

C

Shares

(1)

136,814‌

16,638‌

28,231‌

58,837‌

13,014‌

Shareholder

servicing

agent

fees

976,722‌

19,996‌

337,190‌

512,859‌

381,209‌

Interest

expense

10,691‌

187‌

835‌

765‌

883‌

Custodian

expenses

337,041‌

34,329‌

57,059‌

51,994‌

56,325‌

Directors

fees

112,443‌

1,303‌

9,144‌

13,737‌

7,208‌

Professional

fees

202,072‌

29,532‌

39,014‌

46,148‌

37,247‌

Shareholder

reporting

expenses

44,459‌

11,269‌

19,858‌

43,998‌

86,073‌

Federal

and

state

registration

fees

88,731‌

51,350‌

69,688‌

86,705‌

73,366‌

Other

217,334‌

6,920‌

34,081‌

30,181‌

26,411‌

Total

expenses

before

fee

waiver/expense

reimbursement

25,349,943‌

535,891‌

3,424,520‌

4,356,125‌

2,789,752‌

Fee

waiver/expense

reimbursement

(

1,347,284‌

)

(

112,456‌

)

(

196,209‌

)

(

241,096‌

)

(

311,136‌

)

Net

expenses

24,002,659‌

423,435‌

3,228,311‌

4,115,029‌

2,478,616‌

Net

investment

income

(loss)

69,609,336‌

245,846‌

(

1,495,483‌

)

5,367,590‌

(

1,343,581‌

)

Realized

and

Unrealized

Gain

(Loss)

Net

realized

gain

(loss)

from

investments

and

foreign

currency

244,381,236‌

2,102,320‌

(

35,366,468‌

)

27,588,605‌

(

28,540,149‌

)

Change

in

net

unrealized

appreciation

(depreciation)

of

investments

and

foreign

currency

(

403,181,046‌

)

(

9,644,270‌

)

(

118,055,207‌

)

(

60,525,990‌

)

(

64,383,170‌

)

Net

realized

and

unrealized

gain

(loss)

(

158,799,810‌

)

(

7,541,950‌

)

(

153,421,675‌

)

(

32,937,385‌

)

(

92,923,319‌

)

Net

increase

(decrease)

in

net

assets

from

operations

$

(

89,190,474‌

)

$

(

7,296,104‌

)

$

(

154,917,158‌

)

$

(

27,569,795‌

)

$

(

94,266,900‌

)

Statement

of

Operations

(continued)

See

accompanying

notes

to

financial

statements.

67

Small

Cap

Select

Small

Cap

Value

Investment

Income

Dividends

$

1,450,849‌

$

12,005,538‌

Interest

1,635‌

10,707‌

Securities

lending

income,

net

4,598‌

358‌

Other

income

103,547‌

344,353‌

Total

Investment

Income

1,560,629‌

12,360,956‌

Expenses

–

–

Management

fees

1,110,208‌

4,961,576‌

12b-1

service

fees

-

Class

A

Shares

157,571‌

309,211‌

12b-1

distribution

and

service

fees

-

Class

C

Shares

(1)

8,638‌

246,612‌

Shareholder

servicing

agent

fees

197,116‌

718,571‌

Interest

expense

382‌

1,540‌

Custodian

expenses,

net

43,592‌

87,857‌

Directors

fees

3,997‌

19,072‌

Professional

fees

33,583‌

50,895‌

Shareholder

reporting

expenses

25,091‌

77,246‌

Federal

and

state

registration

fees

68,580‌

76,713‌

Other

15,770‌

62,730‌

Total

expenses

before

fee

waiver/expense

reimbursement

1,664,528‌

6,612,023‌

Fee

waiver/expense

reimbursement

(

206,937‌

)

(

329,365‌

)

Net

expenses

1,457,591‌

6,282,658‌

Net

investment

income

(loss)

103,038‌

6,078,298‌

Realized

and

Unrealized

Gain

(Loss)

Net

realized

gain

(loss)

from

investments

(

3,451,728‌

)

63,890,029‌

Change

in

net

unrealized

appreciation

(depreciation)

of

investments

(

24,623,524‌

)

(

109,810,592‌

)

Net

realized

and

unrealized

gain

(loss)

(

28,075,252‌

)

(

45,920,563‌

)

Net

increase

(decrease)

in

net

assets

from

operations

$

(

27,972,214‌

)

$

(

39,842,265‌

)

(1)

Class

C

Shares

of

Mid

Cap

Growth

Opportunities,

Small

Cap

Growth

Opportunities

and

Small

Cap

Select

converted

to

Class

A

Shares

at

the

close

of

business

on

August

19,

2022

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

Statement

of

Changes

in

Net

Assets

October

31,

2022

See

accompanying

notes

to

financial

statements.

68

Dividend

Value

Large

Cap

Select

Year

Ended

10/31/22

Year

Ended

10/31/21

Year

Ended

10/31/22

Year

Ended

10/31/21

Operations

Net

investment

income

(loss)

$

69,609,336‌

$

68,201,221‌

$

245,846‌

$

120,946‌

Net

realized

gain

(loss)

from

investments

244,381,236‌

545,433,953‌

2,102,320‌

10,468,701‌

Change

in

net

unrealized

appreciation

(depreciation)

of

investments

(403,181,046‌)

667,492,430‌

(9,644,270‌)

6,031,187‌

Net

increase

(decrease)

in

net

assets

from

operations

(89,190,474‌)

1,281,127,604‌

(7,296,104‌)

16,620,834‌

Distributions

to

Shareholders

Dividends:

Class

A

Shares

(38,652,955‌)

(4,571,543‌)

(5,829,007‌)

(211,310‌)

Class

C

Shares

(1,291,414‌)

(81,540‌)

(405,648‌)

(6,336‌)

Class

R3

Shares

(1)

—‌

(94,855‌)

—‌

—‌

Class

R6

Shares

(271,012,937‌)

(51,756,049‌)

–‌

–‌

Class

I

Shares

(40,373,355)

(7,049,788)

(3,427,150)

(163,741)

Decrease

in

net

assets

from

distributions

to

shareholders

(351,330,661‌)

(63,553,775‌)

(9,661,805‌)

(381,387‌)

Fund

Share

Transactions

Fund

Reorganization

—‌

238,529,483‌

—‌

—‌

Proceeds

from

sale

of

shares

348,656,366‌

906,173,773‌

3,097,315‌

5,967,263‌

Proceeds

from

shares

issued

to

shareholders

due

to

reinvestment

of

distributions

345,072,764‌

62,462,449‌

8,141,331‌

295,603‌

693,729,130‌

1,207,165,705‌

11,238,646‌

6,262,866‌

Cost

of

shares

redeemed

(908,100,616‌)

(1,027,091,254‌)

(12,055,274‌)

(12,291,687‌)

Net

increase

(decrease)

in

net

assets

from

Fund

share

transactions

(214,371,486‌)

180,074,451‌

(816,628‌)

(6,028,821‌)

Net

increase

(decrease)

in

net

assets

(654,892,621‌)

1,397,648,280‌

(17,774,537‌)

10,210,626‌

Net

assets

at

the

beginning

of

period

4,019,435,569‌

2,621,787,289‌

52,118,435‌

41,907,809‌

Net

assets

at

the

end

of

period

$

3,364,542,948‌

$

4,019,435,569‌

$

34,343,898‌

$

52,118,435‌

Statement

of

Changes

in

Net

Assets

(continued)

See

accompanying

notes

to

financial

statements.

69

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Year

Ended

10/31/22

Year

Ended

10/31/21

Year

Ended

10/31/22

Year

Ended

10/31/21

Operations

Net

investment

income

(loss)

$

(1,495,483‌)

$

(3,273,270‌)

$

5,367,590‌

$

2,887,637‌

Net

realized

gain

(loss)

from

investments

and

foreign

currency

(35,366,468‌)

112,141,801‌

27,588,605‌

39,708,016‌

Change

in

net

unrealized

appreciation

(depreciation)

of

investments

and

foreign

currency

(118,055,207‌)

34,245,827‌

(60,525,990‌)

112,634,699‌

Net

increase

(decrease)

in

net

assets

from

operations

(154,917,158‌)

143,114,358‌

(27,569,795‌)

155,230,352‌

Distributions

to

Shareholders

Dividends:

Class

A

Shares

(60,603,608‌)

(27,006,259‌)

(3,794,008‌)

(501,238‌)

Class

C

Shares

(2)

(2,457,931‌)

(1,313,163‌)

(334,190‌)

(22,059‌)

Class

R3

Shares

(1)

—‌

(2,853,671‌)

—‌

(116,499‌)

Class

R6

Shares

(5,449,259‌)

(3,099,614‌)

(1,362,609‌)

(261,456‌)

Class

I

Shares

(28,663,653)

(16,584,219)

(15,462,316)

(3,173,542)

Decrease

in

net

assets

from

distributions

to

shareholders

(97,174,451‌)

(50,856,926‌)

(20,953,123‌)

(4,074,794‌)

Fund

Share

Transactions

Proceeds

from

sale

of

shares

29,140,496‌

64,574,360‌

206,637,309‌

86,613,025‌

Proceeds

from

shares

issued

to

shareholders

due

to

reinvestment

of

distributions

92,599,257‌

48,204,913‌

19,687,711‌

3,772,523‌

121,739,753‌

112,779,273‌

226,325,020‌

90,385,548‌

Cost

of

shares

redeemed

(88,345,726‌)

(138,132,870‌)

(110,331,716‌)

(122,343,700‌)

Net

increase

(decrease)

in

net

assets

from

Fund

share

transactions

33,394,027‌

(25,353,597‌)

115,993,304‌

(31,958,152‌)

Net

increase

(decrease)

in

net

assets

(218,697,582‌)

66,903,835‌

67,470,386‌

119,197,406‌

Net

assets

at

the

beginning

of

period

453,913,468‌

387,009,633‌

404,137,225‌

284,939,819‌

Net

assets

at

the

end

of

period

$

235,215,886‌

$

453,913,468‌

$

471,607,611‌

$

404,137,225‌

Statement

of

Changes

in

Net

Assets

(continued)

See

accompanying

notes

to

financial

statements.

70

Small

Cap

Growth

Opportunities

Small

Cap

Select

Year

Ended

10/31/22

Year

Ended

10/31/21

Year

Ended

10/31/22

Year

Ended

10/31/21

Operations

Net

investment

income

(loss)

$

(1,343,581‌)

$

(2,080,467‌)

$

103,038‌

$

(268,387‌)

Net

realized

gain

(loss)

from

investments

(28,540,149‌)

65,129,193‌

(3,451,728‌)

24,819,418‌

Change

in

net

unrealized

appreciation

(depreciation)

of

investments

(64,383,170‌)

37,031,442‌

(24,623,524‌)

24,460,005‌

Net

increase

(decrease)

in

net

assets

from

operations

(94,266,900‌)

100,080,168‌

(27,972,214‌)

49,011,036‌

Distributions

to

Shareholders

Dividends:

Class

A

Shares

(11,103,588‌)

(5,791,593‌)

(12,237,944‌)

(852,635‌)

Class

C

Shares

(2)

(614,013‌)

(413,003‌)

(404,482‌)

(25,593‌)

Class

R3

Shares

(1)

—‌

(241,104‌)

—‌

(103,624‌)

Class

R6

Shares

(99,951‌)

(91,484‌)

(311,451‌)

(33,157‌)

Class

I

Shares

(46,041,090)

(19,572,399)

(9,209,427)

(480,425)

Decrease

in

net

assets

from

distributions

to

shareholders

(57,858,642‌)

(26,109,583‌)

(22,163,304‌)

(1,495,434‌)

Fund

Share

Transactions

Proceeds

from

sale

of

shares

49,838,866‌

109,164,403‌

29,445,692‌

55,066,140‌

Proceeds

from

shares

issued

to

shareholders

due

to

reinvestment

of

distributions

55,705,751‌

24,413,746‌

21,757,881‌

1,460,994‌

105,544,617‌

133,578,149‌

51,203,573‌

56,527,134‌

Cost

of

shares

redeemed

(147,897,905‌)

(54,556,389‌)

(44,948,071‌)

(35,694,040‌)

Net

increase

(decrease)

in

net

assets

from

Fund

share

transactions

(42,353,288‌)

79,021,760‌

6,255,502‌

20,833,094‌

Net

increase

(decrease)

in

net

assets

(194,478,830‌)

152,992,345‌

(43,880,016‌)

68,348,696‌

Net

assets

at

the

beginning

of

period

368,283,291‌

215,290,946‌

156,606,214‌

88,257,518‌

Net

assets

at

the

end

of

period

$

173,804,461‌

$

368,283,291‌

$

112,726,198‌

$

156,606,214‌

Statement

of

Changes

in

Net

Assets

(continued)

See

accompanying

notes

to

financial

statements.

71

Small

Cap

Value

Year

Ended

10/31/22

Year

Ended

10/31/21

Operations

Net

investment

income

(loss)

$

6,078,298‌

$

2,666,068‌

Net

realized

gain

(loss)

from

investments

63,890,029‌

166,768,490‌

Change

in

net

unrealized

appreciation

(depreciation)

of

investments

(109,810,592‌)

228,908,635‌

Net

increase

(decrease)

in

net

assets

from

operations

(39,842,265‌)

398,343,193‌

Distributions

to

Shareholders

Dividends:

Class

A

Shares

(721,671‌)

(414,977‌)

Class

C

Shares

(146,017‌)

–‌

Class

R3

Shares

(1)

—‌

(24,047‌)

Class

R6

Shares

(997,125‌)

(1,219,971‌)

Class

I

Shares

(1,922,976)

(2,536,323)

Decrease

in

net

assets

from

distributions

to

shareholders

(3,787,789‌)

(4,195,318‌)

Fund

Share

Transactions

Proceeds

from

sale

of

shares

103,801,216‌

326,906,007‌

Proceeds

from

shares

issued

to

shareholders

due

to

reinvestment

of

distributions

3,102,913‌

3,362,724‌

106,904,129‌

330,268,731‌

Cost

of

shares

redeemed

(235,795,264‌)

(690,565,501‌)

Net

increase

(decrease)

in

net

assets

from

Fund

share

transactions

(128,891,135‌)

(360,296,770‌)

Net

increase

(decrease)

in

net

assets

(172,521,189‌)

33,851,105‌

Net

assets

at

the

beginning

of

period

721,098,751‌

687,247,646‌

Net

assets

at

the

end

of

period

$

548,577,562‌

$

721,098,751‌

(1)

Class

R3

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

June

4,

2021

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

(2)

Class

C

Shares

of

Mid

Cap

Growth

Opportunities,

Small

Cap

Growth

Opportunities

and

Small

Cap

Select

converted

to

Class

A

Shares

at

the

close

of

business

on

August

19,

2022

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

Financial

Highlights

72

Dividend

Value

The

Fund's

fiscal

year

end

is

October

31st.

The

following

data

is

for

a

share

outstanding

for

each

fiscal

year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Beginning

NAV

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Class

A

2022

$

15.97

$

0.24

$

(

0.67

)

$

(

0.43

)

$

(

0.20

)

$

(

1.22

)

$

(

1.42

)

$

14.12

2021

11.44

0.20

4.50

4.70

(

0.17

)

—

(

0.17

)

15.97

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

Class

C

2022

15.63

0.12

(

0.64

)

(

0.52

)

(

0.09

)

(

1.22

)

(

1.31

)

13.80

2021

11.21

0.09

4.40

4.49

(

0.07

)

—

(

0.07

)

15.63

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

Class

R6

2022

16.34

0.29

(

0.68

)

(

0.39

)

(

0.26

)

(

1.22

)

(

1.48

)

14.47

2021

11.72

0.26

4.60

4.86

(

0.24

)

—

(

0.24

)

16.34

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

Class

I

2022

16.20

0.27

(

0.67

)

(

0.40

)

(

0.24

)

(

1.22

)

(

1.46

)

14.34

2021

11.61

0.24

4.57

4.81

(

0.22

)

—

(

0.22

)

16.20

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

(a)

Per

share

Net

Investment

Income

(Loss)

is

calculated

using

the

average

daily

shares

method.

(b)

Total

return

is

the

combination

of

changes

in

NAV

without

any

sales

charge,

reinvested

dividend

income

at

NAV

and

reinvested

capital

gains

distributions

at

NAV,

if

any.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.  See

Note

7

-

Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Management

Fees

and

Other

Transactions

with

Affiliates

Note

in

the

Notes

to

the

financial

statements.

(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.

See

accompanying

notes

to

financial

statements.

73

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return(b)

Ending

Net

Assets

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate(e)

(

3

.00‌

)

%

$

390,219

1

.00‌

%

0

.96‌

%

1

.63‌

%

81‌

%

41

.25‌

434,105

1

.00‌

0

.96‌

1

.32‌

97‌

(

13

.12‌

)

158,645

1

.09‌

1

.09‌

2

.00‌

117‌

9

.81‌

215,710

1

.11‌

1

.11‌

1

.94‌

93‌

3

.72‌

264,271

1

.08‌

1

.08‌

1

.68‌

68‌

(

3

.72‌

)

11,931

1

.75‌

1

.71‌

0

.85‌

81‌

40

.10‌

16,356

1

.75‌

1

.71‌

0

.60‌

97‌

(

13

.75‌

)

11,881

1

.84‌

1

.84‌

1

.24‌

117‌

8

.98‌

23,083

1

.86‌

1

.86‌

1

.19‌

93‌

2

.98‌

31,111

1

.83‌

1

.83‌

0

.95‌

68‌

(

2

.65‌

)

2,619,891

0

.65‌

0

.61‌

1

.98‌

81‌

41

.71‌

3,102,035

0

.64‌

0

.60‌

1

.73‌

97‌

(

12

.80‌

)

2,025,717

0

.70‌

0

.70‌

2

.41‌

117‌

10

.29‌

52,824

0

.72‌

0

.72‌

2

.30‌

93‌

4

.15‌

172,215

0

.72‌

0

.72‌

2

.05‌

68‌

(

2

.75‌

)

342,502

0

.75‌

0

.71‌

1

.85‌

81‌

41

.59‌

466,940

0

.75‌

0

.71‌

1

.61‌

97‌

(

12

.96‌

)

408,828

0

.84‌

0

.84‌

2

.25‌

117‌

10

.14‌

661,390

0

.86‌

0

.86‌

2

.18‌

93‌

4

.02‌

617,086

0

.83‌

0

.83‌

1

.94‌

68‌

74

Financial

Highlights

(continued)

Large

Cap

Select

The

Fund's

fiscal

year

end

is

October

31st.

The

following

data

is

for

a

share

outstanding

for

each

fiscal

year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Beginning

NAV

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Class

A

2022

$

45.19

$

0.19

$

(

5.82

)

$

(

5.63

)

$

(

0.10

)

$

(

8.35

)

$

(

8.45

)

$

31.11

2021

32.12

0.07

13.28

13.35

(

0.17

)

(

0.11

)

(

0.28

)

45.19

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

Class

C

2022

41.45

(

0.06

)

(

5.20

)

(

5.26

)

(

0.09

)

(

8.35

)

(

8.44

)

27.75

2021

29.56

(

0.21

)

12.21

12.00

—

(

0.11

)

(

0.11

)

41.45

2020

28.28

(

0.06

)

1.47

1.41

(

0.13

)

—

(

0.13

)

29.56

2019

26.77

(

—

)

(f)

2.50

2.50

—

(

0.99

)

(

0.99

)

28.28

2018

25.57

(

0.10

)

1.30

1.20

—

—

—

26.77

Class

I

2022

45.61

0.26

(

5.87

)

(

5.61

)

(

0.10

)

(

8.35

)

(

8.45

)

31.55

2021

32.41

0.18

13.38

13.56

(

0.25

)

(

0.11

)

(

0.36

)

45.61

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

(a)

Per

share

Net

Investment

Income

(Loss)

is

calculated

using

the

average

daily

shares

method.

(b)

Total

return

is

the

combination

of

changes

in

NAV

without

any

sales

charge,

reinvested

dividend

income

at

NAV

and

reinvested

capital

gains

distributions

at

NAV,

if

any.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.  See

Note

7

-

Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Management

Fees

and

Other

Transactions

with

Affiliates

Note

in

the

Notes

to

the

financial

statements.

(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)

Value

rounded

to

zero.

See

accompanying

notes

to

financial

statements.

75

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return(b)

Ending

Net

Assets

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate(e)

(

15

.56‌

)

%

$

23,157

1

.32‌

%

1

.05‌

%

0

.54‌

%

78‌

%

41

.77‌

31,724

1

.29‌

1

.05‌

0

.18‌

83‌

5

.76‌

24,135

1

.30‌

1

.11‌

0

.54‌

101‌

10

.86‌

24,224

1

.20‌

1

.15‌

0

.73‌

108‌

5

.47‌

23,030

1

.16‌

1

.14‌

0

.39‌

101‌

(

16

.18‌

)

1,334

2

.07‌

1

.80‌

(

0

.20‌

)

78‌

40

.68‌

1,790

2

.04‌

1

.80‌

(

0

.56‌

)

83‌

4

.99‌

1,743

2

.05‌

1

.86‌

(

0

.21‌

)

101‌

10

.02‌

2,097

1

.95‌

1

.90‌

(

0

.02‌

)

108‌

4

.65‌

2,145

1

.91‌

1

.89‌

(

0

.37‌

)

101‌

(

15

.33‌

)

9,854

1

.07‌

0

.80‌

0

.75‌

78‌

42

.11‌

18,605

1

.04‌

0

.80‌

0

.43‌

83‌

6

.02‌

16,030

1

.05‌

0

.86‌

0

.79‌

101‌

11

.13‌

18,567

0

.95‌

0

.90‌

0

.98‌

108‌

5

.74‌

48,569

0

.91‌

0

.89‌

0

.65‌

101‌

76

Financial

Highlights

(continued)

Mid

Cap

Growth

Opportunities

The

Fund's

fiscal

year

end

is

October

31st.

The

following

data

is

for

a

share

outstanding

for

each

fiscal

year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Beginning

NAV

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Class

A

2022

$

41.71

$

(0.14)

$

(11.98)

$

(12.12)

$

—

$

(10.16)

$

(10.16)

$

19.43

2021

34.24

(0.32)

12.82

12.50

—

(5.03)

(5.03)

41.71

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

Class

R6

2022

58.90

(0.09)

(18.13)

(18.22)

—

(10.16)

(10.16)

30.52

2021

46.46

(0.27)

17.74

17.47

—

(5.03)

(5.03)

58.90

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

Class

I

2022

57.74

(0.13)

(17.70)

(17.83)

—

(10.16)

(10.16)

29.75

2021

45.67

(0.31)

17.41

17.10

—

(5.03)

(5.03)

57.74

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

(a)

Per

share

Net

Investment

Income

(Loss)

is

calculated

using

the

average

daily

shares

method.

(b)

Total

return

is

the

combination

of

changes

in

NAV

without

any

sales

charge,

reinvested

dividend

income

at

NAV

and

reinvested

capital

gains

distributions

at

NAV,

if

any.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.  See

Note

7

-

Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Management

Fees

and

Other

Transactions

with

Affiliates

Note

in

the

Notes

to

the

financial

statements.

(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.

See

accompanying

notes

to

financial

statements.

77

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return(b)

Ending

Net

Assets

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate(e)

(36.06‌)

%

$

142,840

1.23‌

%

1.17‌

%

(0.60‌)

%

67‌

%

38.97‌

252,552

1.20‌

1.17‌

(0.84‌)

89‌

28.09‌

185,219

1.24‌

1.17‌

(0.29‌)

89‌

13.43‌

172,912

1.24‌

1.17‌

(0.35‌)

90‌

2.35‌

196,212

1.23‌

1.17‌

(0.51‌)

106‌

(35.86‌)

20,897

0.89‌

0.83‌

(0.25‌)

67‌

39.45‌

31,945

0.86‌

0.83‌

(0.50‌)

89‌

28.54‌

28,966

0.88‌

0.81‌

0.06‌

89‌

13.85‌

26,329

0.86‌

0.79‌

0.02‌

90‌

2.75‌

56,250

0.84‌

0.78‌

(0.11‌)

106‌

(35.91‌)

71,478

0.98‌

0.92‌

(0.35‌)

67‌

39.31‌

164,813

0.95‌

0.92‌

(0.58‌)

89‌

28.38‌

150,875

0.99‌

0.92‌

(0.03‌)

89‌

13.73‌

165,663

1.00‌

0.92‌

(0.12‌)

90‌

2.61‌

331,728

0.98‌

0.92‌

(0.26‌)

106‌

78

Financial

Highlights

(continued)

Mid

Cap

Value

The

Fund's

fiscal

year

end

is

October

31st.

The

following

data

is

for

a

share

outstanding

for

each

fiscal

year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Beginning

NAV

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Class

A

2022

$

56.38

$

0.54

$

(

3.88

)

$

(

3.34

)

$

(

0.35

)

$

(

2.56

)

$

(

2.91

)

$

50.13

2021

36.53

0.29

20.01

20.30

(

0.45

)

—

(

0.45

)

56.38

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

Class

C

2022

52.74

0.14

(

3.62

)

(

3.48

)

(

0.32

)

(

2.56

)

(

2.88

)

46.38

2021

34.21

(

0.09

)

18.79

18.70

(

0.17

)

—

(

0.17

)

52.74

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

(

—

)

(f)

(

0.46

)

(

0.46

)

—

(

2.98

)

(

2.98

)

36.73

Class

R6

2022

56.81

0.74

(

3.93

)

(

3.19

)

(

0.35

)

(

2.56

)

(

2.91

)

50.71

2021

36.78

0.49

20.13

20.62

(

0.59

)

—

(

0.59

)

56.81

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

2022

56.64

0.68

(

3.92

)

(

3.24

)

(

0.35

)

(

2.56

)

(

2.91

)

50.49

2021

36.69

0.41

20.09

20.50

(

0.55

)

—

(

0.55

)

56.64

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

(a)

Per

share

Net

Investment

Income

(Loss)

is

calculated

using

the

average

daily

shares

method.

(b)

Total

return

is

the

combination

of

changes

in

NAV

without

any

sales

charge,

reinvested

dividend

income

at

NAV

and

reinvested

capital

gains

distributions

at

NAV,

if

any.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.  See

Note

7

-

Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Management

Fees

and

Other

Transactions

with

Affiliates

Note

in

the

Notes

to

the

financial

statements.

(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)

Value

rounded

to

zero.

(g)

For

the

period

June

20,

2018

(commencement

of

operations)

through

October

31,

2018.

(h)

Annualized.

See

accompanying

notes

to

financial

statements.

79

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return(b)

Ending

Net

Assets

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate(e)

(

6

.29‌

)

%

$

63,992

1

.21‌

%

1

.16‌

%

1

.03‌

%

38‌

%

55

.98‌

73,571

1

.28‌

1

.16‌

0

.59‌

31‌

(

10

.26‌

)

41,258

1

.27‌

1

.17‌

1

.16‌

56‌

10

.19‌

55,467

1

.27‌

1

.17‌

1

.04‌

46‌

(

0

.65�����

)

51,202

1

.31‌

1

.17‌

0

.69‌

49‌

(

7

.02‌

)

5,552

1

.96‌

1

.91‌

0

.28‌

38‌

54

.80‌

6,026

2

.03‌

1

.91‌

(

0

.20‌

)

31‌

(

10

.94‌

)

4,649

2

.02‌

1

.92‌

0

.40‌

56‌

9

.39‌

7,631

2

.02‌

1

.92‌

0

.30‌

46‌

(

1

.41‌

)

6,899

2

.06‌

1

.92‌

—‌

(f)

49‌

(

5

.96‌

)

32,383

0

.84‌

0

.79‌

1

.39‌

38‌

56

.59‌

26,190

0

.87‌

0

.75‌

0

.99‌

31‌

(

9

.91‌

)

16,762

0

.89‌

0

.78‌

1

.54‌

56‌

10

.63‌

19,481

0

.87‌

0

.77‌

1

.39‌

46‌

(

8

.77‌

)

958

0

.93‌

(h)

0

.79‌

(h)

0

.71‌

(h)

49‌

(

6

.07‌

)

369,680

0

.96‌

0

.91‌

1

.29‌

38‌

56

.35‌

298,350

1

.03‌

0

.91‌

0

.83‌

31‌

(

10

.03‌

)

214,089

1

.02‌

0

.92‌

1

.41‌

56‌

10

.48‌

250,717

1

.02‌

0

.92‌

1

.30‌

46‌

(

0

.40‌

)

139,841

1

.07‌

0

.92‌

0

.95‌

49‌

80

Financial

Highlights

(continued)

Small

Cap

Growth

Opportunities

The

Fund's

fiscal

year

end

is

October

31st.

The

following

data

is

for

a

share

outstanding

for

each

fiscal

year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Beginning

NAV

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Class

A

2022

$

34.74

$

(0.16)

$

(8.03)

$

(8.19)

$

—

$

(6.50)

$

(6.50)

$

20.05

2021

27.35

(0.28)

11.44

11.16

(0.01)

(3.76)

(3.77)

34.74

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

Class

R6

2022

43.84

(0.09)

(10.54)

(10.63)

—

(6.50)

(6.50)

26.71

2021

33.69

(0.15)

14.22

14.07

(0.16)

(3.76)

(3.92)

43.84

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

Class

I

2022

43.39

(0.15)

(10.40)

(10.55)

—

(6.50)

(6.50)

26.34

2021

33.38

(0.25)

14.11

13.86

(0.09)

(3.76)

(3.85)

43.39

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

(a)

Per

share

Net

Investment

Income

(Loss)

is

calculated

using

the

average

daily

shares

method.

(b)

Total

return

is

the

combination

of

changes

in

NAV

without

any

sales

charge,

reinvested

dividend

income

at

NAV

and

reinvested

capital

gains

distributions

at

NAV,

if

any.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.  See

Note

7

-

Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Management

Fees

and

Other

Transactions

with

Affiliates

Note

in

the

Notes

to

the

financial

statements.

(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.

See

accompanying

notes

to

financial

statements.

81

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return(b)

Ending

Net

Assets

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate(e)

(28.03‌)

%

$

41,159

1.35‌

%

1.22‌

%

(0.72‌)

%

65‌

%

43.38‌

59,901

1.33‌

1.21‌

(0.88‌)

97‌

30.55‌

41,683

1.42‌

1.22‌

(0.77‌)

105‌

5.47‌

34,249

1.39‌

1.23‌

(0.68‌)

104‌

7.89‌

36,452

1.38‌

1.24‌

(0.72‌)

139‌

(27.74‌)

644

0.95‌

0.82‌

(0.30‌)

65‌

43.98‌

590

0.93‌

0.81‌

(0.39‌)

97‌

31.14‌

1,038

0.98‌

0.78‌

(0.26‌)

105‌

6.13‌

144

1.01‌

0.85‌

(0.19‌)

104‌

8.24‌

14,475

1.03‌

0.88‌

(0.35‌)

139‌

(27.86‌)

132,002

1.10‌

0.97‌

(0.51‌)

65‌

43.74‌

305,544

1.08‌

0.96‌

(0.62‌)

97‌

30.81‌

168,931

1.17‌

0.97‌

(0.51‌)

105‌

5.78‌

172,242

1.13‌

0.98‌

(0.41‌)

104‌

8.14‌

56,194

1.13‌

0.99‌

(0.46‌)

139‌

82

Financial

Highlights

(continued)

Small

Cap

Select

The

Fund's

fiscal

year

end

is

October

31st.

The

following

data

is

for

a

share

outstanding

for

each

fiscal

year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Beginning

NAV

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Class

A

2022

$

11.89

$

(

—

)

(f)

$

(

1.83

)

$

(

1.83

)

$

—

$

(

1.89

)

$

(

1.89

)

$

8.17

2021

7.83

(

0.03

)

4.23

4.20

(

—

)

(f)

(

0.14

)

(

0.14

)

11.89

2020

7.71

(

—

)

(f)

0.13

0.13

(

0.01

)

—

(

0.01

)

7.83

2019

9.26

(

—

)

(f)

0.28

0.28

(

—

)

(f)

(

1.83

)

(

1.83

)

7.71

2018

10.13

(

0.01

)

0.35

0.34

—

(

1.21

)

(

1.21

)

9.26

Class

R6

2022

16.26

0.04

(

2.61

)

(

2.57

)

—

(

1.89

)

(

1.89

)

11.80

2021

10.66

0.01

5.77

5.78

(

0.04

)

(

0.14

)

(

0.18

)

16.26

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

2022

16.21

0.03

(

2.60

)

(

2.57

)

—

(

1.89

)

(

1.89

)

11.75

2021

10.63

(

0.01

)

5.76

5.75

(

0.03

)

(

0.14

)

(

0.17

)

16.21

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

(a)

Per

share

Net

Investment

Income

(Loss)

is

calculated

using

the

average

daily

shares

method.

(b)

Total

return

is

the

combination

of

changes

in

NAV

without

any

sales

charge,

reinvested

dividend

income

at

NAV

and

reinvested

capital

gains

distributions

at

NAV,

if

any.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.  See

Note

7

-

Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Management

Fees

and

Other

Transactions

with

Affiliates

Note

in

the

Notes

to

the

financial

statements.

(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)

Value

rounded

to

zero.

(g)

For

the

period

February

28,

2018

(commencement

of

operations)

through

October

31,

2018.

(h)

Annualized.

See

accompanying

notes

to

financial

statements.

83

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return(b)

Ending

Net

Assets

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate(e)

(

17

.84‌

)

%

$

56,476

1

.40‌

%

1

.24‌

%

(

0

.05‌

)

%

63‌

%

54

.06‌

78,047

1

.39‌

1

.24‌

(

0

.30‌

)

91���

1

.70‌

49,513

1

.48‌

1

.24‌

(

0

.05‌

)

90‌

6

.95‌

55,849

1

.42‌

1

.24‌

0

.01‌

70‌

3

.48‌

60,930

1

.43‌

1

.24‌

(

0

.06‌

)

95‌

(

17

.57‌

)

3,135

1

.02‌

0

.86‌

0

.32‌

63‌

54

.60‌

2,791

1

.03‌

0

.87‌

0

.06‌

91‌

2

.15‌

1,994

1

.09‌

0

.86‌

0

.32‌

90‌

7

.22‌

2,070

1

.03‌

0

.85‌

0

.36‌

70‌

0

.42‌

6,532

1

.03‌

(h)

0

.85‌

(h)

0

.24‌

(h)

95‌

(

17

.63‌

)

53,115

1

.15‌

0

.99‌

0

.20‌

63‌

54

.43‌

74,479

1

.14‌

0

.99‌

(

0

.04‌

)

91‌

2

.00‌

31,341

1

.23‌

0

.99‌

0

.19‌

90‌

7

.13‌

30,109

1

.17‌

0

.99‌

0

.26‌

70‌

3

.77‌

37,420

1

.18‌

0

.99‌

0

.21‌

95‌

84

Financial

Highlights

(continued)

Small

Cap

Value

The

Fund's

fiscal

year

end

is

October

31st.

The

following

data

is

for

a

share

outstanding

for

each

fiscal

year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Beginning

NAV

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Class

A

2022

$

28.36

$

0.21

$

(

1.90

)

$

(

1.69

)

$

(

0.15

)

$

—

$

(

0.15

)

$

26.52

2021

17.30

0.04

11.09

11.13

(

0.07

)

—

(

0.07

)

28.36

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

Class

C

2022

23.68

—

(f)

(

1.56

)

(

1.56

)

(

0.13

)

—

(

0.13

)

21.99

2021

14.51

(

0.13

)

9.30

9.17

—

—

—

23.68

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

Class

R6

2022

29.55

0.33

(

1.97

)

(

1.64

)

(

0.16

)

—

(

0.16

)

27.75

2021

18.02

0.12

11.57

11.69

(

0.16

)

—

(

0.16

)

29.55

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

Class

I

2022

29.41

0.29

(

1.97

)

(

1.68

)

(

0.16

)

—

(

0.16

)

27.57

2021

17.93

0.11

11.49

11.60

(

0.12

)

—

(

0.12

)

29.41

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

(a)

Per

share

Net

Investment

Income

(Loss)

is

calculated

using

the

average

daily

shares

method.

(b)

Total

return

is

the

combination

of

changes

in

NAV

without

any

sales

charge,

reinvested

dividend

income

at

NAV

and

reinvested

capital

gains

distributions

at

NAV,

if

any.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.  See

Note

7

-

Management

Fees

and

Other

Transactions

with

Affiliates

for

more

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Management

Fees

and

Other

Transactions

with

Affiliates

Note

in

the

Notes

to

the

financial

statements.

(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)

Value

rounded

to

zero.

See

accompanying

notes

to

financial

statements.

85

Ratio/Supplemental

Data

Ratios

to

Average

Net

Assets

Total

Return(b)

Ending

Net

Assets

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate(e)

(

6

.00‌

)

%

$

113,227

1

.25‌

%

1

.20‌

%

0

.77‌

%

31‌

%

64

.47‌

138,585

1

.25‌

1

.20‌

0

.16‌

36‌

(

21

.33‌

)

105,402

1

.30‌

1

.20‌

0

.48‌

30‌

0

.44‌

213,819

1

.28‌

1

.20‌

0

.81‌

31‌

(

8

.12‌

)

291,122

1

.24‌

1

.20‌

0

.47‌

35‌

(

6

.70‌

)

21,592

2

.00‌

1

.95‌

0

.02‌

31‌

63

.20‌

28,500

2

.00‌

1

.95‌

(

0

.62‌

)

36‌

(

21

.93‌

)

22,263

2

.05‌

1

.95‌

(

0

.28‌

)

30‌

(

0

.28‌

)

45,920

2

.03‌

1

.95‌

0

.07‌

31‌

(

8

.80‌

)

70,077

1

.99‌

1

.95‌

(

0

.28‌

)

35‌

(

5

.60‌

)

152,178

0

.86‌

0

.81‌

1

.17‌

31‌

65

.14‌

182,835

0

.85‌

0

.81‌

0

.45‌

36‌

(

21

.01‌

)

85,491

0

.86‌

0

.76‌

0

.81‌

30‌

0

.90‌

133,071

0

.83‌

0

.75‌

1

.26‌

31‌

(

7

.73‌

)

121,943

0

.82‌

0

.78‌

0

.86‌

35‌

(

5

.76‌

)

261,581

1

.00‌

0

.95‌

1

.02‌

31‌

64

.91‌

371,179

1

.00‌

0

.95‌

0

.42‌

36‌

(

21

.14‌

)

457,676

1

.05‌

0

.95‌

0

.81‌

30‌

0

.69‌

1,228,912

1

.03‌

0

.95‌

1

.06‌

31‌

(

7

.88‌

)

1,812,444

0

.99‌

0

.95‌

0

.71‌

35‌

86

Notes

to

Financial

Statements

1.

General

Information 

Trust

and

Fund

Information

Nuveen

Investment

Funds,

Inc.

(the

“Trust”),

is

an

open-end

management

investment

company

registered

under

the

Investment

Company

Act

of

1940,

(the

“1940

Act”),

as

amended.

The

Trust

is

comprised

of

Nuveen

Dividend

Value

Fund

(“Dividend

Value”),

Nuveen

Large

Cap

Select

Fund

(“Large

Cap

Select”),

Nuveen

Mid

Cap

Growth

Opportunities

Fund

(“Mid

Cap

Growth

Opportunities”),

Nuveen

Mid

Cap

Value

Fund

(“Mid

Cap

Value”),

Nuveen

Small

Cap

Growth

Opportunities

Fund

(“Small

Cap

Growth

Opportunities”),

Nuveen

Small

Cap

Select

Fund

(“Small

Cap

Select”)

and

Nuveen

Small

Cap

Value

Fund

(“Small

Cap

Value”),

(each

a

“Fund”

and

collectively,

the

“Funds”),

as

diversified

funds,

among

others.

The

Trust

was

incorporated

in

the

State

of

Maryland

on

August

20,

1987.

Current

Fiscal

Period 

The

end

of

the

reporting

period

for

the

Funds

is

October

31,

2022,

and

the

period

covered

by

these

Notes

to

Financial

Statements

is

the

fiscal

year

ended

October

31,

2022

(the

"current

fiscal

period").

Investment

Adviser

and

Sub-Adviser

The

Funds’

investment

adviser

is

Nuveen

Fund

Advisors,

LLC

(the

“Adviser”),

a

subsidiary

of

Nuveen,

LLC

(“Nuveen”).

Nuveen

is

the

investment

management

arm

of

Teachers

Insurance

and

Annuity

Association

of

America

(TIAA).

The

Adviser

has

overall

responsibility

for

management

of

the

Funds,

oversees

the

management

of

the

Funds’

portfolios,

manages

the

Funds’

business

affairs

and

provides

certain

clerical,

bookkeeping

and

other

administrative

services,

and,

if

necessary,

asset

allocation

decisions.

The

Adviser

has

entered

into

sub-advisory

agreements

with

Nuveen

Asset

Management,

LLC

(the

Sub-Adviser),

a

subsidiary

of

the

Adviser,

under

which

the

Sub-Adviser

manages

the

investment

portfolios

of

the

Funds.

Fund

Reorganization

On

April

27,

2020,

the

Funds’

Board

of

Trustees

of

Nuveen

Investment

Trust

and

the

Funds’

Board

of

Directors

(the

“Board”)

of

Nuveen

Investment

Funds,

Inc.,

approved

the

Reorganization

of

Nuveen

Large

Cap

Value

Fund

(the

“Target

Fund”)

into

Dividend

Value

(the

“Acquiring

Fund”)

(the

“Reorganization”).

On

September

28,

2020,

shareholders

of

the

Target

Fund

approved

the

Reorganization.

The

Reorganization

was

effective

at

the

close

of

business

on

December

4,

2020.

Upon

the

closing

of

the

Reorganization,

the

Target

Fund

transferred

its

assets

to

the

Acquiring

Fund

in

exchange

for

shares

of

the

Acquiring

Fund

and

the

assumption

by

the

Acquiring

Fund

of

the

liabilities

of

the

Target

Fund.

These

Acquiring

Fund

shares

will

then

be

distributed

to

Target

Fund

shareholders

and

the

Target

Fund

was

terminated.

Each

Target

Fund

shareholder

received

Acquiring

Fund

shares

with

a

total

value

equal

to

the

total

value

of

that

shareholder’s

Target

Fund

shares

immediately

prior

to

the

closing

of

the

Reorganization.

Share

Classes

and

Sales

Charges

Class

A

Shares

are

generally

sold

with

an

up-front

sales

charge.

Class

A

Share

purchases

of

$1

million

or

more

are

sold

at

net

asset

value

(“NAV”)

without

an

up-front

sales

charge

but

may

be

subject

to

a

contingent

deferred

sales

charge

(“CDSC”)

of

1%

if

redeemed

within

eighteen

months

of

purchase.

Class

C

Shares

are

sold

without

an

up-front

sales

charge

but

are

subject

to

a

CDSC

of

1%

if

redeemed

within

twelve

months

of

purchase.

Class

C

Shares

automatically

convert

to

Class

A

Shares

eight

years

after

purchase.

Class

C

Shares

of

Mid

Cap

Growth

Opportunities,

Small

Cap

Growth

Opportunities

and

Small

Cap

Select

converted

to

Class

A

Shares

after

the

close

of

business

on

August

19,

2022.

Class

R6

Shares

and

Class

I

Shares

are

sold

without

an

upfront

sales

charge.

Other

Matters 

The

outbreak

of

the

novel

coronavirus

(“COVID-19”)

and

subsequent

global

pandemic

began

significantly

impacting

the

U.S.

and

global

financial

markets

and

economies

during

the

calendar

quarter

ended

March

31,

2020.

The

worldwide

spread

of

COVID-19

has

created

significant

uncertainty

in

the

global

economy.

The

duration

and

extent

of

COVID-19

over

the

long-term

cannot

be

reasonably

estimated

at

this

time.

The

ultimate

impact

of

COVID-19

and

the

extent

to

which

COVID-19

impacts

the

Funds’

normal

course

of

business,

results

of

operations,

investments,

and

cash

flows

will

depend

on

future

developments,

which

are

highly

uncertain

and

difficult

to

predict.

Management

continues

to

monitor

and

evaluate

this

situation.

2.

Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“U.S.

GAAP”),

which

may

require

the

use

of

estimates

made

by

management

and

the

evaluation

of

subsequent

events.

Actual

results

may

differ

from

those

estimates.

Each

Fund

is

an

investment

company

and

follows

accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies.

The

NAV

for

financial

reporting

purposes

may

differ

from

the

NAV

for

processing

security

and

shareholder

transactions.

The

NAV

for

financial

reporting

purposes

includes

security

and

shareholder

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the

NAV

used

for

processing

security

and

shareholder

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds.

87

Compensation

The

Trust

pays

no

compensation

directly

to

those

of

its directors

or

to

its

officers,

all

of

whom

receive

remuneration

for

their

services

to

the

Trust

from

the

Adviser

or

its

affiliates.

The

Funds’

Board

of Directors

(the

"Board")

has

adopted

a

deferred

compensation

plan

for

independent directors that

enables directors

to

elect

to

defer

receipt

of

all

or

a

portion

of

the

annual

compensation

they

are

entitled

to

receive

from

certain

Nuveen-advised

funds.

Under

the

plan,

deferred

amounts

are

treated

as

though

equal

dollar

amounts

had

been

invested

in

shares

of

select

Nuveen-advised

funds.

Distributions

to

Shareholders

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

Currency

Transactions

and

Translation

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

are

recognized

as

a

component

of

“Net

realized

gain

(loss)

from

investments

and

foreign

currency”

on

the

Statement

of

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

as

a

component

of

“Change

in

net

unrealized

appreciation

(depreciation)

of

investments

and

foreign

currency”

on

the

Statement

of

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative’s

related

“Change

in

net

unrealized

appreciation

(depreciation)”

on

the

Statement

of

Operations,

when

applicable.

Foreign

Taxes

The

Funds

may

be

subject

to

foreign

taxes

on

income,

gains,

on

investments

or

foreign

currency

repatriation,

a

portion

of

which

may

be

recoverable. 

The

Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the

Funds

invest.

Indemnifications

Under

the

Trust’s

organizational

documents,

its

officers

and directors

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust’s

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Investments

and

Investment

Income

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Dividend

income

is

recorded

on

the

ex-dividend

date

or,

for

foreign

securities,

when

information

is

available.

Non-cash

dividends

received

in

the

form

of

stock,

if

any,

are

recognized

on

the

ex-dividend

date

and

recorded

at

fair

value.

Interest

income

is

recorded

on

an

accrual

basis.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned

on

cash

collateral

investments.

Multiclass

Operations

and

Allocations

Income

and

expenses

of

the

Funds

that

are

not

directly

attributable

to

a

specific

class

of

shares

are

prorated

among

the

classes

based

on

the

relative

net

assets

of

each

class.

Expenses

directly

attributable

to

a

class

of

shares

are

recorded

to

the

specific

class.

12b-1

distribution

and

service

fees

are

allocated

on

a

class-specific

basis.

Sub-transfer

agent

fees

and

similar

fees,

which

are

recognized

as

a

component

of

“Shareholder

servicing

agent

fees”

on

the

Statement

of

Operations,

are

not

charged

to

Class

R6

Shares

and

are

prorated

among

the

other

classes

based

on

their

relative

net

assets.

Realized

and

unrealized

capital

gains

and

losses

of

the

Funds

are

prorated

among

the

classes

based

on

the

relative

net

assets

of

each

class.

Netting

Agreements

In

the

ordinary

course

of

business,

the

Funds

may

enter

into

transactions

subject

to

enforceable

master

repurchase

agreements,

International

Swaps

and

Derivatives

Association,

Inc.

(ISDA)

master

agreements

or

other

similar

arrangements

(“netting

agreements”).

Generally,

the

right

to

offset

in

netting

agreements

allows

each

Fund

to

offset

certain

securities

and

derivatives

with

a

specific

counterparty,

when

applicable,

as

well

as

any

collateral

received

or

delivered

to

that

counterparty

based

on

the

terms

of

the

agreements.

Generally,

each

Fund

manages

its

cash

collateral

and

securities

collateral

on

a

counterparty

basis.

The

Funds’

investments

subject

to

netting

agreements

as

of

the

end

of

the

reporting

period,

if

any,

are

further

described

in

Note

4

-

Portfolio

Securities

and

Investments

in

Derivatives.

88

Notes

to

Financial

Statements

(continued)

New

Accounting

Pronouncements

and

Rule

Issuances

Reference

Rate

Reform

In

March

2020,

FASB

issued

Accounting

Standards

Update

(“ASU”)

2020-04,

Reference

Rate

Reform:

Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting.

The

main

objective

of

the

new

guidance

is

to

provide

relief

to

companies

that

will

be

impacted

by

the

expected

change

in

benchmark

interest

rates,

when

participating

banks

will

no

longer

be

required

to

submit

London

Interbank

Offered

Rate

(LIBOR)

quotes

by

the

UK

Financial

Conduct

Authority

(FCA).

The

new

guidance

allows

companies

to,

provided

the

only

change

to

existing

contracts

are

a

change

to

an

approved

benchmark

interest

rate,

account

for

modifications

as

a

continuance

of

the

existing

contract

without

additional

analysis.

For

new

and

existing

contracts,

the

Funds

may

elect

to

apply

the

amendments

as

of

March

12,

2020

through

December

31,

2022.

Management

has

not

yet

elected

to

apply

the

amendments,

is

continuously

evaluating

the

potential

effect

a

discontinuation

of

LIBOR

could

have

on

the

Funds’

investments

and

has

currently

determined

that

it

is

unlikely

the

ASU’s

adoption

will

have

a

significant

impact

on

the

Funds’

financial

statements

and

various

filings.

New

Rules

to

Modernize

Fund

Valuation

Framework

Take

Effect

A

new

rule

adopted

by

the

Securities

and

Exchange

Commission

(the

"SEC")

governing

fund

valuation

practices,

Rule

2a-5

under

the

1940

Act,

has

established

requirements

for

determining

fair

value

in

good

faith

for

purposes

of

the

1940

Act.

Rule

2a-5

permits

fund

boards

to

designate

certain

parties

to

perform

fair

value

determinations,

subject

to

board

oversight

and

certain

other

conditions.

Rule

2a-5

also

defines

when

market

quotations

are

"readily

available"

for

purposes

of

Section

2(a)(41)

of

the

1940

Act,

which

requires

a

fund

to

fair

value

a

security

when

market

quotations

are

not

readily

available.

Separately,

new

SEC

Rule

31a-4

under

the

1940

Act

sets

forth

the

recordkeeping

requirements

associated

with

fair

value

determinations.

The

Funds

adopted

a

valuation

policy

conforming

to

the

new

rules,

effective

September

1,

2022,

and

there

was

no

material

impact

to

the

Funds.

FASB

issues

ASU

2022-03-Fair

Value

Measurement

(Topic

820),

Fair

Value

Measurement

of

Equity

Securities

to

Contractual

Sale

Restrictions

("ASU

2022-03")

In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

("Topic

820").

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-

03

(1)

clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

equity

security,

(2)

amends

a

related

illustrative

example,

and

(3)

introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820.

For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

Management

is

currently

assessing

the

impact

of

these

provisions

on

the

Funds'

financial

statements.

3.

Investment

Valuation

and

Fair

Value

Measurements 

The

Funds’

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

oversight

of

the Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the

Funds’

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported sales

price

or

official

closing

price of such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the valuation

date.

For

events affecting

the value

of

foreign

securities

between

the

time

when

the

exchange

on

which

they

are

traded

closes

and

the

time

when

the

Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board. To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1. When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price, these

securities

are

generally

classified

as

Level

2.

Prices

of

certain

American

Depositary

Receipts

(“ADR”)

held

by

the

Fund

that

trade

in

the

United

States

are

valued

based

on

the

last

traded

price,

official

closing

price,

or

an

evaluated

price

provided

by

the

independent

pricing

services

(“pricing

services”)

and

are

generally

classified

as

Level

1

or

2.

89

Investments

in

investment

companies

are

valued

at

their

respective

NAVs

or

share

price on

the

valuation

date

and

are

generally

classified

as

Level

1. 

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2.

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as

Level

2;

otherwise

they

would

be

classified

as

Level

3.

The

following

table

summarizes

the

market

value

of

the

Funds’

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

Dividend

Value

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Common

Stocks

$

3,338,136,551

$

–

$

–

$

3,338,136,551

Total

$

3,338,136,551

$

–

$

–

$

3,338,136,551

Large

Cap

Select

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Common

Stocks

$

34,207,016

$

–

$

–

$

34,207,016

Short-Term

Investments:

Repurchase

Agreements

–

112,208

–

112,208

Total

$

34,207,016

$

112,208

$

–

$

34,319,224

Mid

Cap

Growth

Opportunities

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Common

Stocks

$

231,081,192

$

–

$

–

$

231,081,192

Short-Term

Investments:

Repurchase

Agreements

–

3,901,322

–

3,901,322

Total

$

231,081,192

$

3,901,322

$

–

$

234,982,514

Mid

Cap

Value

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Common

Stocks

$

456,569,206

$

–

$

–

$

456,569,206

Short-Term

Investments:

Repurchase

Agreements

–

14,649,759

–

14,649,759

Total

$

456,569,206

$

14,649,759

$

–

$

471,218,965

Small

Cap

Growth

Opportunities

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Common

Stocks

$

171,913,843

$

–

$

591**

$

171,914,434

Investments

Purchased

with

Collateral

from

Securities

Lending

2,240,983

–

–

2,240,983

Short-Term

Investments:

Repurchase

Agreements

–

940,356

–

940,356

Total

$

174,154,826

$

940,356

$

591

$

175,095,773

90

Notes

to

Financial

Statements

(continued)

4.

Portfolio

Securities

and

Investments

in

Derivatives

Portfolio

Securities

Repurchase

Agreements

In

connection

with

transactions

in

repurchase

agreements,

it

is

each

Fund's

policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

The

following

table

presents

the

repurchase

agreements

for

the

Funds

that

are

subject

to

netting

agreements

as

of

the

end

of

the

reporting

period,

and

the

collateral

delivered

related

to

those

repurchase

agreements.

Securities

Lending

Each

Fund

may

lend

securities

representing

up

to

one-third

of

the

value

of

its

total

assets

to

broker-dealers,

banks,

and

other

institutions

in

order

to

generate

additional

income.

When

loaning

securities,

the

Fund

retains

the

benefits

of

owning

the

securities,

including

the

economic

equivalent

of

dividends

or

interest

generated

by

the

security.

The

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

The

Funds’

custodian,

State

Street

Bank

and

Trust

Company,

serves

as

the

securities

lending

agent

(the

“Agent”).

When

a

Fund

loans

its

portfolio

securities,

it

will

receive,

at

the

inception

of

each

loan,

cash

collateral

equal

to

an

amount

not

less

than

100%

of

the

market

value

of

the

loaned

securities.

The

actual

percentage

of

the

cash

collateral

will

vary

depending

upon

the

asset

type

of

the

loaned

securities.

Collateral

for

the

loaned

securities

is

invested

in

a

government

money

market

vehicle

maintained

by

the

Agent,

which

is

subject

to

the

requirements

of

Rule

2a-7

under

the

1940

Act.

The

value

of

the

loaned

securities

and

the

liability

to

return

the

cash

collateral

received

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

If

the

market

value

of

the

loaned

securities

increases,

the

borrower

must

furnish

additional

collateral

to

the

Fund,

which

is

also

recognized

on

the

Statement

of

Assets

and

Liabilities.

Securities

out

on

loan

are

subject

to

termination

at

any

time

at

the

option

of

the

borrower

or

the

Fund.

Upon

termination,

the

borrower

is

required

to

return

to

the

Fund

securities

identical

to

the

securities

loaned.

During

the

term

of

the

loan,

the

Fund

bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund

if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned.

Small

Cap

Select

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Common

Stocks

$

111,056,978

$

–

$

–

$

111,056,978

Exchange-Traded

Funds

1,111,243

–

–

1,111,243

Investments

Purchased

with

Collateral

from

Securities

Lending

3,151,248

–

–

3,151,248

Short-Term

Investments:

Repurchase

Agreements

–

749,835

–

749,835

Total

$

115,319,469

$

749,835

$

–

$

116,069,304

Small

Cap

Value

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Common

Stocks

$

543,124,419

$

–

$

–

$

543,124,419

Investments

Purchased

with

Collateral

from

Securities

Lending

1,822,883

–

–

1,822,883

Short-Term

Investments:

Repurchase

Agreements

–

5,861,849

–

5,861,849

Total

$

544,947,302

$

5,861,849

$

–

$

550,809,151

*

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

Dividend

Value

-

$-

$-

Large

Cap

Select

Fixed

Income

Clearing

Corporation

112,208

114,467

Mid

Cap

Growth

Opportunities

Fixed

Income

Clearing

Corporation

3,901,322

3,979,431

Mid

Cap

Value

Fixed

Income

Clearing

Corporation

14,649,759

14,942,851

Small

Cap

Growth

Opportunities

Fixed

Income

Clearing

Corporation

940,356

959,262

Small

Cap

Select

Fixed

Income

Clearing

Corporation

749,835

764,848

Small

Cap

Value

Fixed

Income

Clearing

Corporation

5,861,849

5,979,102

91

Securities

lending

income

recognized

by

a

Fund

consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

recognized

on

the

Statement

of

Operations.

As

of

the

end

of

the

current

reporting

period,

the

total

value

of

the

loaned

securities

and

the

total

value

of

collateral

received

were

as

follows:

Investment

Transactions

Long-term

purchases

and

sales

(excluding investments

purchased

with

collateral

from

securities

lending,

where

applicable)

during

the

current fiscal

period

were

as

follows:

The

Funds

may

purchase

securities

on

a

when-issued

or

delayed-delivery

basis.

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

The

Funds

have

earmarked

securities

in

their

portfolios

with

a

current

value

at

least

equal

to

the

amount

of

the

when-issued/

delayed

delivery

purchase

commitments.

If

a

Fund

has

outstanding

when-issued/delayed-delivery

purchases

commitments

as

of

the

end

of

the

reporting

period,

such

amounts

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

Investments

in

Derivatives

Each

Fund

is

authorized

to

invest

in

certain

derivative

instruments.

The

Funds

record

derivative

instruments

at

fair

value,

with

changes

in

fair

value

recognized

on

the

Statement

of

Operations,

when

applicable.

Even

though

the

Funds’

investments

in

derivatives

may

represent

economic

hedges,

they

are

not

considered

to

be

hedge

transactions

for

financial

reporting

purposes.

Although

the

Funds

are

authorized

to

invest

in

derivative

instruments,

and

may

do

so

in

the

future,

they

did

not

make

any

such

investments

during

the

current

fiscal

period.

Market

and

Counterparty

Credit

Risk

In

the

normal

course

of

business

each

Fund

may

invest

in

financial

instruments

and

enter

into

financial

transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk)

or

failure

of

the

other

party

to

the

transaction

to

perform

(counterparty

credit

risk).

The

potential

loss

could

exceed

the

value

of

the

financial

assets

recorded

on

the

financial

statements.

Financial

assets,

which

potentially

expose

each

Fund

to

counterparty

credit

risk,

consist

principally

of

cash

due

from

counterparties

on

forward,

option

and

swap

transactions,

when

applicable.

The

extent

of

each

Fund’s

exposure

to

counterparty

credit

risk

in

respect

to

these

financial

assets

approximates

their

carrying

value

as

recorded

on

the

Statement

of

Assets

and

Liabilities.

Each

Fund

helps

manage

counterparty

credit

risk

by

entering

into

agreements

only

with

counterparties

the

Adviser

believes

have

the

financial

resources

to

honor

their

obligations

and

by

having

the

Adviser

monitor

the

financial

stability

of

the

counterparties.

Additionally,

counterparties

may

be

required

to

pledge

collateral

daily

(based

on

the

daily

valuation

of

the

financial

asset)

on

behalf

of

each

Fund

with

a

value

approximately

equal

to

the

amount

of

any

unrealized

gain

above

a

pre-determined

threshold.

Reciprocally,

when

each

Fund

has

an

unrealized

loss,

the

Funds

have

instructed

the

custodian

to

pledge

assets

of

the

Funds

as

collateral

with

a

value

approximately

equal

to

the

amount

of

the

unrealized

loss

above

a

pre-determined

threshold.

Collateral

pledges

are

monitored

and

subsequently

adjusted

if

and

when

the

valuations

fluctuate,

either

up

or

down,

by

at

least

the

predetermined

threshold

amount.

Fund

Asset

Class

out

on

Loan

Long-Term

Investments,

at

Value

Total

Collateral

Received

Small

Cap

Growth

Opportunities

Common

Stock

$2,183,756

$2,240,983

Small

Cap

Select

Common

Stock

1,945,936

2,012,302

Exchange-Traded

Funds

1,094,320

1,138,946

Total

$3,040,256

$3,151,248

Small

Cap

Value

Common

Stock

$1,707,266

$1,822,883

Fund

Purchases

Sales

Dividend

Value

$

2,888,127,279

$

3,382,347,847

Large

Cap

Select

32,956,551

43,086,450

Mid

Cap

Growth

Opportunities

204,552,295

272,670,788

Mid

Cap

Value

249,500,267

161,861,002

Small

Cap

Growth

Opportunities

156,823,699

256,767,427

Small

Cap

Select

82,043,750

98,643,416

Small

Cap

Value

192,146,077

315,406,468

92

Notes

to

Financial

Statements

(continued)

5.

Fund

Shares

Transactions

in Fund

shares

during

the

current

and

prior

fiscal

period

were

as

follows:

Year

Ended

10/31/22

Year

Ended

10/31/21

Dividend

Value

Shares

Amount

Shares

Amount

Shares

issued

in

the

Reorganization:

Class

A

—

$—

14,146,957

$187,318,787

Class

C

—

—

627,042

8,132,038

Class

R3

(1)

—

—

6,476

85,328

Class

R6

—

—

14,338

194,379

Class

I

—

—

3,185,887

42,798,951

Shares

sold:

Class

A

1,677,886

24,407,093

1,157,239

16,979,040

Class

A

-

automatic

conversion

of

Class

C

Shares

1,426

20,987

3,324

50,053

Class

A

-

automatic

conversion

of

Class

R3

Shares

—

—

1,332,443

21,279,107

Class

C

125,518

1,770,067

112,784

1,582,442

Class

R3

(1)

—

—

68,276

947,209

Class

R6

21,388,133

305,486,916

62,937,672

830,353,866

Class

I

1,142,225

16,971,303

2,337,677

34,982,056

Shares

issued

to

shareholders

due

to

reinvestment

of

distributions:

Class

A

2,381,492

35,373,973

280,701

4,152,919

Class

C

86,804

1,266,479

5,462

79,594

Class

R3

(1)

—

—

6,554

94,479

Class

R6

17,832,052

271,006,221

3,457,700

51,753,567

Class

I

2,480,518

37,426,091

430,040

6,381,890

47,116,054

693,729,130

90,110,572

1,207,165,705

Shares

redeemed:

Class

A

(3,622,494)

(51,905,145)

(3,593,966)

(51,695,213)

Class

C

(393,109)

(5,616,281)

(755,345)

(10,514,193)

Class

C

-

automatic

conversion

to

Class

A

Shares

(1,459)

(20,987)

(3,395)

(50,053)

Class

R3

(1)

—

—

(210,384)

(2,987,934)

Class

R3

-

automatic

conversion

to

Class

A

Shares

—

—

(1,339,151)

(21,279,107)

Class

R6

(48,095,477)

(723,213,381)

(49,365,807)

(758,797,773)

Class

I

(8,574,049)

(127,344,822)

(12,324,980)

(181,766,981)

(60,686,588)

(908,100,616)

(67,593,028)

(1,027,091,254)

Net

increase

(decrease)

(13,570,534)

$(214,371,486)

22,517,544

$180,074,451

(1)

Class

R3

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

June

4,

2021

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

Year

Ended

10/31/22

Year

Ended

10/31/21

Large

Cap

Select

Shares

Amount

Shares

Amount

Shares

sold:

Class

A

49,150

$1,619,287

47,307

$1,884,520

Class

A

-

automatic

conversion

of

Class

C

Shares

197

6,536

803

32,578

Class

C

20,385

694,985

3,155

124,418

Class

I

22,471

776,507

98,815

3,925,747

Shares

issued

to

shareholders

due

to

reinvestment

of

distributions:

Class

A

149,832

5,603,128

5,571

202,130

Class

C

12,082

405,648

191

6,335

Class

I

56,363

2,132,555

2,381

87,138

310,480

11,238,646

158,223

6,262,866

Shares

redeemed:

Class

A

(156,938)

(5,322,325)

(103,066)

(4,038,382)

Class

C

(27,354)

(827,900)

(18,279)

(705,300)

Class

C

-

automatic

conversion

to

Class

A

Shares

(220)

(6,536)

(872)

(32,578)

Class

I

(174,384)

(5,898,513)

(187,915)

(7,515,427)

(358,896)

(12,055,274)

(310,132)

(12,291,687)

Net

increase

(decrease)

(48,416)

$(816,628)

(151,909)

$(6,028,821)

93

Year

Ended

10/31/22

Year

Ended

10/31/21

Mid

Cap

Growth

Opportunities

Shares

Amount

Shares

Amount

Shares

sold:

Class

A

418,152

$9,664,057

349,354

$13,123,791

Class

A

-

automatic

conversion

of

Class

C

Shares

136,751

2,854,115

4,809

178,393

Class

A

-

automatic

conversion

of

Class

R3

Shares

—

—

447,164

16,424,332

Class

C

(1)

55,894

755,281

29,587

564,997

Class

R3

(2)

—

—

84,014

2,712,835

Class

R6

86,190

3,276,982

61,828

3,280,240

Class

I

347,618

12,590,061

545,230

28,289,772

Shares

issued

to

shareholders

due

to

reinvestment

of

distributions:

Class

A

2,194,153

59,834,565

743,887

26,593,930

Class

C

(1)

285,143

2,457,931

71,611

1,294,017

Class

R3

(2)

—

—

92,472

2,853,671

Class

R6

127,557

5,449,259

61,586

3,099,614

Class

I

596,532

24,857,502

290,822

14,363,681

4,247,990

121,739,753

2,782,364

112,779,273

Shares

redeemed:

Class

A

(1,451,373)

(34,008,243)

(899,736)

(34,267,626)

Class

C

(1)

(126,013)

(970,955)

(140,092)

(2,650,763)

Class

C

-

automatic

conversion

to

Class

A

Shares

(434,837)

(2,854,115)

(9,512)

(178,393)

Class

R3

(2)

—

—

(213,377)

(6,825,644)

Class

R3

-

automatic

conversion

to

Class

A

Shares

—

—

(518,609)

(16,424,332)

Class

R6

(71,412)

(2,802,730)

(204,447)

(11,121,059)

Class

I

(1,395,784)

(47,709,683)

(1,285,241)

(66,665,053)

(3,479,419)

(88,345,726)

(3,271,014)

(138,132,870)

Net

increase

(decrease)

768,571

$33,394,027

(488,650)

$(25,353,597)

(1)

Class

C

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

August

19,

2022

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

(2)

Class

R3

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

June

4,

2021

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

94

Notes

to

Financial

Statements

(continued)

Year

Ended

10/31/22

Year

Ended

10/31/21

Mid

Cap

Value

Shares

Amount

Shares

Amount

Shares

sold:

Class

A

190,479

$10,130,081

176,017

$8,867,632

Class

A

-

automatic

conversion

of

Class

C

Shares

6

336

—

—

Class

A

-

automatic

conversion

of

Class

R3

Shares

—

—

187,245

10,113,091

Class

C

17,439

868,030

22,953

1,060,245

Class

R3

(1)

—

—

17,856

836,063

Class

R6

414,141

21,010,312

246,011

12,833,710

Class

I

3,323,755

174,628,550

1,081,377

52,902,284

Shares

issued

to

shareholders

due

to

reinvestment

of

distributions:

Class

A

67,987

3,692,139

11,428

487,609

Class

C

6,608

334,190

549

22,041

Class

R3

(1)

—

—

2,764

116,499

Class

R6

24,810

1,358,844

6,084

260,623

Class

I

262,023

14,302,538

67,471

2,885,751

4,307,248

226,325,020

1,819,755

90,385,548

Shares

redeemed:

Class

A

(286,628)

(15,261,090)

(199,237)

(9,909,199)

Class

C

(18,610)

(911,546)

(45,136)

(2,078,476)

Class

C

-

automatic

conversion

to

Class

A

Shares

(7)

(336)

—

—

Class

R3

(1)

—

—

(56,979)

(2,644,646)

Class

R3

-

automatic

conversion

to

Class

A

Shares

—

—

(189,846)

(10,113,091)

Class

R6

(261,347)

(13,294,251)

(246,852)

(12,721,605)

Class

I

(1,531,332)

(80,864,493)

(1,716,992)

(84,876,683)

(2,097,924)

(110,331,716)

(2,455,042)

(122,343,700)

Net

increase

(decrease)

2,209,324

$115,993,304

(635,287)

$(31,958,152)

(1)

Class

R3

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

June

4,

2021

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

95

Year

Ended

10/31/22

Year

Ended

10/31/21

Small

Cap

Growth

Opportunities

Shares

Amount

Shares

Amount

Shares

sold:

Class

A

201,812

$4,617,821

210,876

$6,782,987

Class

A

-

automatic

conversion

of

Class

C

Shares

61,822

1,289,612

18

595

Class

A

-

automatic

conversion

of

Class

R3

Shares

—

—

59,678

1,904,933

Class

C

(1)

15,482

228,492

21,766

478,657

Class

R3

(2)

—

—

17,583

512,385

Class

R6

22,736

666,519

12,037

497,643

Class

I

1,340,651

43,036,422

2,526,502

98,987,203

Shares

issued

to

shareholders

due

to

reinvestment

of

distributions:

Class

A

413,405

10,880,846

193,026

5,656,110

Class

C

(1)

39,478

609,145

20,943

413,003

Class

R3

(2)

—

—

8,983

241,104

Class

R6

2,725

95,210

714

26,440

Class

I

1,278,486

44,120,550

493,823

18,077,089

3,376,597

105,544,617

3,565,949

133,578,149

Shares

redeemed:

Class

A

(348,346)

(8,049,911)

(263,294)

(8,526,180)

Class

C

(1)

(45,651)

(626,794)

(56,949)

(1,214,851)

Class

C

-

automatic

conversion

to

Class

A

Shares

(106,053)

(1,289,612)

(27)

(595)

Class

R3

(2)

—

—

(19,883)

(582,035)

Class

R3

-

automatic

conversion

to

Class

A

Shares

—

—

(65,193)

(1,904,933)

Class

R6

(14,810)

(423,452)

(30,080)

(1,198,491)

Class

I

(4,649,351)

(137,508,136)

(1,040,703)

(41,129,304)

(5,164,211)

(147,897,905)

(1,476,129)

(54,556,389)

Net

increase

(decrease)

(1,787,614)

$(42,353,288)

2,089,820

$79,021,760

(1)

Class

C

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

August

19,

2022

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

(2)

Class

R3

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

June

4,

2021

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

96

Notes

to

Financial

Statements

(continued)

Year

Ended

10/31/22

Year

Ended

10/31/21

Small

Cap

Select

Shares

Amount

Shares

Amount

Shares

sold:

Class

A

476,502

$4,346,382

623,191

$6,798,571

Class

A

-

automatic

conversion

of

Class

C

Shares

108,534

923,644

581

6,308

Class

A

-

automatic

conversion

of

Class

R3

Shares

—

—

562,027

6,452,067

Class

C

(1)

23,215

116,814

64,985

382,698

Class

R3

(2)

—

—

119,314

1,102,237

Class

R6

133,545

1,622,172

59,689

857,317

Class

I

1,645,333

22,436,680

2,660,201

39,466,942

Shares

issued

to

shareholders

due

to

reinvestment

of

distributions:

Class

A

1,256,268

12,110,428

89,710

844,247

Class

C

(1)

96,077

404,482

5,098

25,593

Class

R3

(2)

—

—

12,626

103,624

Class

R6

22,439

311,451

2,572

33,156

Class

I

645,341

8,931,520

35,363

454,374

4,407,254

51,203,573

4,235,357

56,527,134

Shares

redeemed:

Class

A

(1,491,425)

(13,298,199)

(1,032,915)

(11,283,611)

Class

C

(1)

(74,347)

(290,632)

(55,152)

(317,599)

Class

C

-

automatic

conversion

to

Class

A

Shares

(249,625)

(923,644)

(1,091)

(6,308)

Class

R3

(2)

—

—

(157,731)

(1,460,155)

Class

R3

-

automatic

conversion

to

Class

A

Shares

—

—

(647,148)

(6,452,067)

Class

R6

(62,042)

(796,004)

(77,588)

(1,160,940)

Class

I

(2,363,873)

(29,639,592)

(1,048,813)

(15,013,360)

(4,241,312)

(44,948,071)

(3,020,438)

(35,694,040)

Net

increase

(decrease)

165,942

$6,255,502

1,214,919

$20,833,094

(1)

Class

C

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

August

19,

2022

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

(2)

Class

R3

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

June

4,

2021

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

97

6.

Income

Tax

Information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund's

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund's

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

distribution

reallocations,

foreign

currency

transactions,

net

operating

losses,

nondeductible

reorganization

expenses,

return

of

capital

and

long-term

capital

gain

distributions

received

from

portfolio

investments,

tax

equalization,

taxable

overdistribution,

and

taxes

paid.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund's

net

assets.

Year

Ended

10/31/22

Year

Ended

10/31/21

Small

Cap

Value

Shares

Amount

Shares

Amount

Shares

sold:

Class

A

695,459

$19,217,263

1,113,245

$27,474,076

Class

A

-

automatic

conversion

of

Class

C

Shares

17

439

—

—

Class

A

-

automatic

conversion

of

Class

R3

Shares

—

—

642,426

17,936,527

Class

C

42,722

976,016

65,952

1,365,627

Class

R3

(1)

—

—

143,265

3,292,369

Class

R6

1,270,494

36,527,584

6,135,359

149,052,959

Class

I

1,661,816

47,079,914

5,117,952

127,784,449

Shares

issued

to

shareholders

due

to

reinvestment

of

distributions:

Class

A

20,733

601,678

14,565

314,161

Class

C

5,539

134,101

—

—

Class

R3

(1)

—

—

1,116

23,543

Class

R6

25,680

777,085

45,797

1,026,309

Class

I

52,826

1,590,049

89,548

1,998,711

3,775,286

106,904,129

13,369,225

330,268,731

Shares

redeemed:

Class

A

(1,334,347)

(36,491,824)

(2,975,907)

(74,076,213)

Class

C

(269,603)

(6,094,990)

(397,010)

(8,204,114)

Class

C

-

automatic

conversion

to

Class

A

Shares

(21)

(439)

—

—

Class

R3

(1)

—

—

(458,512)

(10,921,193)

Class

R3

-

automatic

conversion

to

Class

A

Shares

—

—

(657,497)

(17,936,527)

Class

R6

(1,999,133)

(57,203,057)

(4,737,760)

(124,122,889)

Class

I

(4,850,255)

(136,004,954)

(18,107,716)

(455,304,565)

(8,453,359)

(235,795,264)

(27,334,402)

(690,565,501)

Net

increase

(decrease)

(4,678,073)

$(128,891,135)

(13,965,177)

$(360,296,770)

(1)

Class

R3

Shares

were

converted

to

Class

A

Shares

at

the

close

of

business

on

June

4,

2021

and

are

no

longer

available

for

reinvestment

or

through

an

exchange

from

other

Nuveen

mutual

funds.

98

Notes

to

Financial

Statements

(continued)

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of

year

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

The

tax

character

of

distributions

paid

was

as

follows:

As

of

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

Dividend

Value

$

3,033,490,360

$

492,190,299

$

(187,544,108)

$

304,646,191

Large

Cap

Select

31,095,374

5,230,499

(2,006,649)

3,223,850

Mid

Cap

Growth

Opportunities

230,552,339

37,267,939

(32,837,764)

4,430,175

Mid

Cap

Value

400,902,392

85,987,366

(15,670,793)

70,316,573

Small

Cap

Growth

Opportunities

161,297,196

35,020,808

(21,222,231)

13,798,577

Small

Cap

Select

106,624,936

20,165,624

(10,721,256)

9,444,368

Small

Cap

Value

475,870,358

120,122,393

(45,183,600)

74,938,793

Fund

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital

Gains

Unrealized

Appreciation

(Depreciation)

Capital

Loss

Carryforwards

Late-Year

Loss

Deferrals

Other

Book-to-Tax

Differences

Total

Dividend

Value

$

9,590,554

$

215,364,772

$

304,646,191

$

(13,924,766)

$

—

$

(256,016)

$

515,420,735

Large

Cap

Select

212,130

1,838,455

3,223,850

—

—

—

5,274,435

Mid

Cap

Growth

Opportunities

—

—

4,430,175

(35,033,309)

—

(68,898)

(30,672,032)

Mid

Cap

Value

5,499,244

22,473,127

70,316,573

—

—

(15,363)

98,273,581

Small

Cap

Growth

Opportunities

—

—

13,798,577

(26,924,212)

(942,568)

—

(14,068,203)

Small

Cap

Select

158,505

—

9,444,368

(2,497,473)

—

(15,747)

7,089,653

Small

Cap

Value

3,857,670

—

74,938,802

(212,274,542)

—

(49,678)

(133,527,748)

10/31/22

10/31/21

Fund

Ordinary

Income

Long-Term

Capital

Gains

Ordinary

Income

Long-Term

Capital

Gains

Dividend

Value

$

189,579,315

$

161,751,346

$

63,553,775

$

—

Large

Cap

Select

4,404,547

5,257,258

238,344

143,043

Mid

Cap

Growth

Opportunities

39,117,119

58,057,332

5,961,416

44,895,510

Mid

Cap

Value

2,619,085

18,334,038

4,074,794

—

Small

Cap

Growth

Opportunities

19,745,195

38,113,447

6,034,590

20,074,993

Small

Cap

Select

11,146,857

11,016,447

49,133

1,446,301

Small

Cap

Value

$

3,787,789

$

—

$

4,195,318

$

—

Fund

Short-Term

Long-Term

Total

Dividend

Value

1

$

13,924,766

$

—

$

13,924,766

Large

Cap

Select

—

—

—

Mid

Cap

Growth

Opportunities

35,033,309

—

35,033,309

Mid

Cap

Value

—

—

—

Small

Cap

Growth

Opportunities

25,660,761

1,263,451

26,924,212

Small

Cap

Select

2,497,473

—

2,497,473

Small

Cap

Value

82,482,055

129,792,487

212,274,542

1

A

portion

of

Dividend

Value's

capital

loss

carryforwards

are

subject

to

an

annual

limitation

under

the

Internal

Revenue

Code

and

related

regulations.

99

As

of

year

end,

the

Funds

utilized

the

following

capital

loss

carryforwards:

7.

Management

Fees

and

Other

Transactions

with

Affiliates

Management

Fees

Each

Fund’s

management

fee

compensates

the

Adviser

for

the

overall

investment

advisory

and

administrative

services

and

general

office

facilities.

The

Sub-Adviser

is

compensated

for

its

services

to

the

Funds

from

the

management

fees

paid

to

the

Adviser.

Each

Fund’s

management

fee

consists

of

two

components

–

a

fund-level

fee,

based

only

on

the

amount

of

assets

within

each

individual

Fund,

and

a

complex-level

fee,

based

on

the

aggregate

amount

of

all

eligible

fund

assets

managed

by

the

Adviser.

This

pricing

structure

enables

each

Fund’s

shareholders

to

benefit

from

growth

in

the

assets

within

their

respective

Fund

as

well

as

from

growth

in

the

amount

of

complex-wide

assets

managed

by

the

Adviser.

The

annual

fund-level

fee,

payable

monthly,

for

each

Fund

is

calculated

according

to

the

following

schedule:

Fund

Utilized

Dividend

Value

$

4,201,690

Large

Cap

Select

—

Mid

Cap

Growth

Opportunities

—

Mid

Cap

Value

—

Small

Cap

Growth

Opportunities

—

Small

Cap

Select

—

Small

Cap

Value

61,870,346

Average

Daily

Net

Assets

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Small

Cap

Growth

Opportunities

Small

Cap

Select

Small

Cap

Value

For

the

first

$125

million

0.5000

%

0.5000

%

0.6000

%

0.6000

%

0.6500

%

0.6500

%

0.6500

%

For

the

next

$125

million

0.4875

0.4875

0.5875

0.5875

0.6375

0.6375

0.6375

For

the

next

$250

million

0.4750

0.4750

0.5750

0.5750

0.6250

0.6250

0.6250

For

the

next

$500

million

0.4625

0.4625

0.5625

0.5625

0.6125

0.6125

0.6125

For

the

next

$1

billion

0.4500

0.4500

0.5500

0.5500

0.6000

0.6000

0.6000

For

the

next

$3

billion

0.4250

0.4250

0.5250

0.5250

0.5750

0.5750

0.5750

For

the

next

$2.5

billion

0.4000

0.4000

0.5000

0.5000

0.5500

0.5500

0.5500

For

the

next

$2.5

billion

0.3875

0.3875

0.4875

0.4875

0.5375

0.5375

0.5375

For

net

assets

over

$10

billion

0.3750

0.3750

0.4750

0.4750

0.5250

0.5250

0.5250

100

Notes

to

Financial

Statements

(continued)

The

annual

complex-level

fee,

payable

monthly,

for

each

Fund

is

determined

by

taking

the

complex-level

free

rate,

which

is

based

on

the

aggregate

amount

of

"eligible

assets"

of

all

Nuveen

funds

as

set

forth

in

the

schedule

below,

and

making,

as

appropriate,

an

upward

adjustment

to

that

rate

based

upon

the

percentage

of

the

particular

fund's

assets

that

are

not

"eligible

assets".

The

complex-level

fee

schedule

for

each

Fund

is

as

follows:

*

The

complex-level

fee

is

calculated

based

upon

the

aggregate

daily

“eligible

assets”

of

all

Nuveen

open-end

and

closed-end

funds.

Eligible

assets

do

not

include

assets

attributable

to

investments

in

other

Nuveen

funds

or

assets

in

excess

of

a

determined

amount

(originally

$2

billion)

added

to

the

Nuveen

fund

complex

in

connection

with

the

Adviser’s

assumption

of

the

management

of

the

former

First

American

Funds

effective

January

1,

2011,

but

do

include

certain

assets

of

certain

Nuveen

funds

that

were

reorganized

into

funds

advised

by

an

affiliate

of

the

Adviser

during

the

2019

calendar

year.

Eligible

assets

include

closed-end

fund

assets

managed

by

the

Adviser

that

are

attributable

to

certain

types

of

leverage.

For

these

purposes,

leverage

includes

the

closed-end

funds’

use

of

preferred

stock

and

borrowings

and

certain

investments

in

the

residual

interest

certificates

(also

called

inverse

floating

rate

securities)

in

tender

option

bond

(TOB)

trusts,

including

the

portion

of

assets

held

by

a

TOB

trust

that

has

been

effectively

financed

by

the

trust’s

issuance

of

floating

rate

securities,

subject

to

an

agreement

by

the

Adviser

as

to

certain

funds

to

limit

the

amount

of

such

assets

for

determining

eligible

assets

in

certain

circumstances.

As

of

October

31,

2022,

the

complex-level

fee

rate

for

each

Fund

was

as

follows:

The

Adviser

has

agreed

to

waive

fees

and/or

reimburse

expenses

(“Expense

Cap”)

of

the

Funds

so

that

the

total

annual

Fund

operating

expenses

(excluding

12b-1

distribution

and/or

service

fees,

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

fees

incurred

in

acquiring

and

disposing

of

portfolio

securities

and

extraordinary

expenses)

do

not

exceed

the

average

daily

net

assets

of

any

class

of

Fund

shares

in

the

amounts

and

for

the

time

period

stated

in

the

following

table.

However,

because

Class

R6

Shares

are

not

subject

to

sub-transfer

agent

and

similar

fees,

the

total

annual

fund

operating

expenses

for

the

Class

R6

Shares

will

not

be

less

than

the

expense

limitation.

The

expense

limitation

expiring

July

31,

2024,

may

be

terminated

or

modified

prior

to

that

date

only

with

the

approval

of

the

Board.

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

.1718%

Large

Cap

Select

0

.2000%

Mid

Cap

Growth

Opportunities

0

.2000%

Mid

Cap

Value

0

.1852%

Small

Cap

Growth

Opportunities

0

.1884%

Small

Cap

Select

0

.2000%

Small

Cap

Value

0

.1662%

Fund

Expense

Cap

Expense

Cap

Expiration

Date

Dividend

Value

0.74%

July

31,

2024

Large

Cap

Select

0.80

July

31,

2024

Mid

Cap

Growth

Opportunities

0.92

July

31,

2024

Mid

Cap

Value

0.92

July

31,

2024

Small

Cap

Growth

Opportunities

0.99

July

31,

2024

Small

Cap

Select

0.99

July

31,

2024

Small

Cap

Value

0.99

July

31,

2024

101

Distribution

and

Service

Fees

Each

Fund

has

adopted

a

distribution

and

service

plan

under

rule

12b-1

under

the

1940

Act.

Class

A

Shares

incur

a

0.25%

annual

12b-1

service

fee.

Class

C

Shares

incur

a

0.75%

annual

12b-1

distribution

fee

and

a

0.25%

annual

12b-1

service

fee.

 Class

R6

Shares

and

Class

I

Shares

are

not

subject

to

12b-1

distribution

or

service

fees.

The

fees

under

this

plan

compensate

Nuveen

Securities,

LLC,

(the

“Distributor”),

a

wholly-owned

subsidiary

of

Nuveen,

for

services

provided

and

expenses

incurred

in

distributing

shares

of

the

Funds

and

establishing

and

maintaining

shareholder

accounts.

Other

Transactions

with

Affiliates 

The

Fund

receives

voluntary

compensation

from

the

Adviser

in

amounts

that

approximate

the

cost

of

research

services

obtained

from

broker-dealers

and

research

providers

if

the

Adviser

had

purchased

the

research

services

directly.

This

income

received

by

the

Fund,

which

is

disclosed

below,

is

recognized

in

"Other

income"

on

the

Statement

of

Operations.

Each

Fund

is

permitted

to

purchase

or

sell

securities

from

or

to

certain

other

funds

or

accounts

managed

by

the

Sub-Adviser

(“Affiliated

Entity”)

under

specified

conditions

outlined

in

procedures

adopted

by

the

Board

("cross-trade").

These

procedures

have

been

designed

to

ensure

that

any

cross-trade

of

securities

by

the

Fund

from

or

to

an

Affiliated

Entity

by

virtue

of

having

a

common

investment

adviser

(or

affiliated

investment

adviser),

common

officer

and/or

common

trustee

complies

with

Rule

17a-7

under

the

1940

Act.

These

transactions

are

effected

at

the

current

market

price

(as

provided

by

an

independent

pricing

service)

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

engaged

in

cross-trades

pursuant

to

these

procedures

as

follows:

During

the

current

fiscal

period,

the

Distributor,

collected

sales

charges

on

purchases

of

Class

A

Shares,

the

majority

of

which

were

paid

out

as

concessions

to

financial

intermediaries

as

follows:

The

Distributor

also

received

12b-1

service

fees

on

Class

A

Shares,

substantially

all

of

which

were

paid

to

compensate

financial

intermediaries

for

providing

services

to

shareholders

relating

to

their

investments.

Fund

Amount

Dividend

Value

$

1,168,325

Large

Cap

Select

15,907

Mid

Cap

Growth

Opportunities

163,743

Mid

Cap

Value

102,036

Small

Cap

Growth

Opportunities

314,298

Small

Cap

Select

103,547

Small

Cap

Value

344,353

Fund

Purchases

Sales

Realized

Gain

(Loss)

Dividend

Value

$

2,441,193

$

186,700,025

$

9,499,009

Large

Cap

Select

12,622

93,187

1,994

Mid

Cap

Growth

Opportunities

—

1,844,600

(73,014)

Mid

Cap

Value

871,050

3,613,985

929,759

Small

Cap

Growth

Opportunities

419,245

—

—

Small

Cap

Select

—

191,139

75,736

Small

Cap

Value

1,299,023

1,860,132

755,230

Fund

Sales

Charges

Collected

(Unaudited)

Paid

to

Financial

Intermediaries

(Unaudited)

Dividend

Value

$

76,495

$

68,392

Large

Cap

Select

10,709

9,523

Mid

Cap

Growth

Opportunities

21,397

19,064

Mid

Cap

Value

75,529

67,747

Small

Cap

Growth

Opportunities

16,604

14,667

Small

Cap

Select

11,593

10,194

Small

Cap

Value

37,296

33,447

102

Notes

to

Financial

Statements

(continued)

During

the

current

fiscal

period,

the

Distributor

compensated

financial

intermediaries

directly

with

commission

advances

at

the

time

of

purchase

as

follows:

To

compensate

for

commissions

advanced

to

financial

intermediaries,

all

12b-1

service

and

distribution

fees

collected

on

Class

C

Shares

during

the

first

year

following

a

purchase

are

retained

by

the

Distributor.

During

the

current

fiscal

period,

the

Distributor

retained

such

12b-1

fees

as

follows:

The

remaining

12b-1

fees

charged

to

each

Fund

were

paid

to

compensate

financial

intermediaries

for

providing

services

to

shareholders

relating

to

their

investments.

The

Distributor

also

collected

and

retained

CDSC

on

share

redemptions

during

the

current

fiscal

period,

as

follows: 

Fund

Commission

Advances

(Unaudited)

Dividend

Value

$

11,948

Large

Cap

Select

3,941

Mid

Cap

Growth

Opportunities

9,425

Mid

Cap

Value

16,720

Small

Cap

Growth

Opportunities

1,553

Small

Cap

Select

902

Small

Cap

Value

12,674

Fund

12b-1

Fees

Retained

(Unaudited)

Dividend

Value

$

6,127

Large

Cap

Select

1,919

Mid

Cap

Growth

Opportunities

4,139

Mid

Cap

Value

—

Small

Cap

Growth

Opportunities

336

Small

Cap

Select

2,362

Small

Cap

Value

21,193

Fund

CDSC

Retained

(Unaudited)

Dividend

Value

$

2,781

Large

Cap

Select

970

Mid

Cap

Growth

Opportunities

1,300

Mid

Cap

Value

4,787

Small

Cap

Growth

Opportunities

1,825

Small

Cap

Select

1,971

Small

Cap

Value

1,714

103

Affiliate

Owned

Shares

As

of

the

end

of

the

reporting

period,

the

percentage

of

Fund

shares

owned

by

TIAA

and/or

TIAA

affiliates

are

as

follows:

8.

Borrowing

Arrangements

Committed

Line

of

Credit

The

Funds,

along

with

certain

other

funds

managed

by

the

Adviser

(“Participating

Funds”),

have

established

a

364-day,

$2.700

billion

standby

credit

facility

with

a

group

of

lenders,

under

which

the

Participating

Funds

may

borrow

for

temporary

purposes

(other

than

on-going

leveraging

for

investment

purposes).

Each

Participating

Fund

is

allocated

a

designated

proportion

of

the

facility’s

capacity

(and

its

associated

costs,

as

described

below)

based

upon

a

multi-factor

assessment

of

the

likelihood

and

frequency

of

its

need

to

draw

on

the

facility,

the

size

of

the

Fund

and

its

anticipated

draws,

and

the

potential

importance

of

such

draws

to

the

operations

and

well-being

of

the

Fund,

relative

to

those

of

the

other

Funds.

A

Fund

may

effect

draws

on

the

facility

in

excess

of

its

designated

capacity

if

and

to

the

extent

that

other

Participating

Funds

have

undrawn

capacity.

The

credit

facility

expires

in

June

2023

unless

extended

or

renewed.

The

credit

facility

has

the

following

terms:

0.15%

per

annum

on

unused

commitment

amounts

and

a

drawn

interest

rate

equal

to

the

higher

of

(a)

OBFR

(Overnight

Bank

Funding

Rate)

plus

1.20%

per

annum

or

(b)

the

Fed

Funds

Effective

Rate

plus

1.20%

per

annum

on

amounts

borrowed.

The

Participating

Funds

also

incurred

a

0.05%

upfront

fee

on

the

increased

commitments

from

select

lenders.

Interest

expense

incurred

by

the

Participating

Funds,

when

applicable,

is

recognized

as

a

component

of

“Interest

expense”

on

the

Statement

of

Operations.

Participating

Funds

paid

administration,

legal

and

arrangement

fees,

which

are

recognized

as

a

component

of

“Interest

expense”

on

the

Statement

of

Operations,

and

along

with

commitment

fees,

have

been

allocated

among

such

Participating

Funds

based

upon

the

relative

proportions

of

the

facility’s

aggregate

capacity

reserved

for

them

and

other

factors

deemed

relevant

by

the

Adviser

and

the

Board

of

each

Participating

Fund.

During

the

current

fiscal

period,

none

of

the

Funds

utilized

this

facility.

Dividend

Value

TIAA

—%

TIAA-CREF

Lifecycle

Retirement

Income

Fund

1

TIAA-CREF

Lifecycle

2010

Fund

1

TIAA-CREF

Lifecycle

2015

Fund

2

TIAA-CREF

Lifecycle

2020

Fund

4

TIAA-CREF

Lifecycle

2025

Fund

7

TIAA-CREF

Lifecycle

2030

Fund

9

TIAA-CREF

Lifecycle

2035

Fund

11

TIAA-CREF

Lifecycle

2040

Fund

14

TIAA-CREF

Lifecycle

2045

Fund

11

TIAA-CREF

Lifecycle

2050

Fund

8

TIAA-CREF

Lifecycle

2055

Fund

4

TIAA-CREF

Lifecycle

2060

Fund

1

TIAA-CREF

Lifecycle

2065

Fund

—*

TIAA-CREF

Lifestyle

Aggressive

Growth

Fund

1

TIAA-CREF

Lifestyle

Conservative

Fund

—*

TIAA-CREF

Lifestyle

Growth

Fund

1

TIAA-CREF

Lifestyle

Income

Fund

—*

TIAA-CREF

Lifestyle

Moderate

Fund

1

TIAA-CREF

Managed

Allocation

Fund

2

*

Rounds

to

less

than

1%

104

Important

Tax

Information

(Unaudited)

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-Term

Capital

Gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

amount

allowable,

as

being

from

net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code:

Dividends

Received

Deduction

(DRD)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

eligible

for

the

dividends

received

deduction

for

corporate

shareholders:

Qualified

Dividend

Income

(QDI)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

dividend

income

for

individuals

pursuant

to

Section

1(h)(11)

of

the

Internal

Revenue

Code:

Fund

Net

Long-Term

Capital

Gains

Dividend

Value

$

183,201,537

Large

Cap

Select

5,618,963

Mid

Cap

Growth

Opportunities

58,057,332

Mid

Cap

Value

23,181,692

Small

Cap

Growth

Opportunities

38,113,447

Small

Cap

Select

11,016,447

Small

Cap

Value

—

Fund

Percentage

Dividend

Value

39

.8

%

Large

Cap

Select

12

.1

Mid

Cap

Growth

Opportunities

4

.2

Mid

Cap

Value

100

.0

Small

Cap

Growth

Opportunities

4

.3

Small

Cap

Select

9

.6

Small

Cap

Value

100

.0

Fund

Percentage

Dividend

Value

43

.8

%

Large

Cap

Select

13

.7

Mid

Cap

Growth

Opportunities

4

.3

Mid

Cap

Value

100

.0

Small

Cap

Growth

Opportunities

4

.3

Small

Cap

Select

9

.6

Small

Cap

Value

100

.0

105

Additional

Fund

Information

(Unaudited)

Investment

Adviser

Nuveen

Fund

Advisors,

LLC

333

West

Wacker

Drive

Chicago,

IL

60606

Sub-Adviser

Nuveen

Asset

Management,

LLC

333

West

Wacker

Drive

Chicago,

IL

60606

Independent

Registered

Public

Accounting

Firm

PricewaterhouseCoopers

LLP

One

North

Wacker

Drive

Chicago,

IL

60606

Custodian

State

Street

Bank

&

Trust

Company

One

Lincoln

Street

Boston,

MA

02111

Legal

Counsel

Chapman

and

Cutler

LLP

Chicago,

IL

60603

Transfer

Agent

and

Shareholder

Services

DST

Asset

Manager

Solutions,

Inc.

(DST)

P.O.

Box

219140

Kansas

City,

MO

64121-9140

(800)

257-8787

Portfolio

of

Investments

Information

Each

Fund

is

required

to

file

its

complete

schedule

of

portfolio

holdings

with

the

Securities

and

Exchange

Commission

(SEC)

for

the

first

and

third

quarters

of

each

fiscal

year

as

an

exhibit

to

its

report

on

Form

N-PORT.

You

may

obtain

this

information

on

the

SEC’s

website

at

http://www.sec.gov.

Nuveen

Funds’

Proxy

Voting

Information

You

may

obtain

(i)

information

regarding

how

each

fund

voted

proxies

relating

to

portfolio

securities

held

during

the

most

recent

twelve-month

period

ended

June

30,

without

charge,

upon

request,

by

calling

Nuveen

toll-free

at

(800)

257-8787

or

on

Nuveen’s

website

at

www.nuveen.com

and

(ii)

a

description

of

the

policies

and

procedures

that

each

fund

used

to

determine

how

to

vote

proxies

relating

to

portfolio

securities

without

charge,

upon

request,

by

calling

Nuveen

toll-free

at

(800)

257-8787.

You

may

also

obtain

this

information

directly

from

the

SEC.

Visit

the

SEC

on-line

at

http://www.sec.gov.

FINRA

BrokerCheck

:

The

Financial

Industry

Regulatory

Authority

(FINRA)

provides

information

regarding

the

disciplinary

history

of

FINRA

member

firms

and

associated

investment

professionals.

This

information

as

well

as

an

investor

brochure

describing

FINRA

BrokerCheck

is

available

to

the

public

by

calling

the

FINRA

BrokerCheck

Hotline

number

at

(800)

289-9999

or

by

visiting

www.FINRA.org.

106

Glossary

of

Terms

Used

in

this

Report

(Unaudited)

Average

Annual

Total

Return:

This

is

a

commonly

used

method

to

express

an

investment’s

performance

over

a

particular,

usually

multi-year

time

period.

It

expresses

the

return

that

would

have

been

necessary

each

year

to

equal

the

investment’s

actual

cumulative

performance

(including

change

in

NAV

or

offer

price

and

reinvested

dividends

and

capital

gains

distributions,

if

any)

over

the

time

period

being

considered.

Gross

Domestic

Product

(GDP):

The

total

market

value

of

all

final

goods

and

services

produced

in

a

country/region

in

a

given

year,

equal

to

total

consumer,

investment

and

government

spending,

plus

the

value

of

exports,

minus

the

value

of

imports.

Lipper

Equity

Income

Funds

Classification

Average:

Represents

the

average

annualized

total

return

for

all

reporting

funds

in

the

Lipper

Equity

Income

Funds

Classification.

Lipper

returns

account

for

the

effects

of

management

fees

and

assume

reinvestment

of

distributions.

but

do

not

reflect

any

applicable

sales

charges.

Lipper

Large-Cap

Core

Funds

Classification

Average:

Represents

the

average

annualized

total

return

for

all

reporting

funds

in

the

Lipper

Large-Cap

Core

Funds

Classification.

Lipper

returns

account

for

the

effects

of

management

fees

and

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges.

Lipper

Mid-Cap

Growth

Funds

Classification

Average:

Represents

the

average

annualized

total

return

for

all

reporting

funds

in

the

Lipper

Mid-Cap

Growth

Funds

Classification.

Lipper

returns

account

for

the

effects

of

management

fees

and

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges.

Lipper

Mid-Cap

Value

Funds

Classification

Average:

Represents

the

average

annualized

total

return

for

all

reporting

funds

in

the

Lipper

Mid-Cap

Value

Funds

Classification.

Lipper

returns

account

for

the

effects

of

management

fees

and

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges.

Lipper

Small-Cap

Core

Funds

Classification

Average:

Represents

the

average

annualized

total

return

for

all

reporting

funds

in

the

Lipper

Small-Cap

Core

Funds

Classification.

Lipper

returns

account

for

the

effects

of

management

fees

and

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges.

Lipper

Small-Cap

Growth

Funds

Classification

Average:

Represents

the

average

annualized

total

return

for

all

reporting

funds

in

the

Lipper

Small-Cap

Growth

Funds

Classification.

Lipper

returns

account

for

the

effects

of

management

fees

and

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges.

Lipper

Small-Cap

Value

Funds

Classification

Average:

Represents

the

average

annualized

total

return

for

all

reporting

funds

in

the

Lipper

Small-Cap

Value

Funds

Classification.

Lipper

returns

account

for

the

effects

of

management

fees

and

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges.

Market

Capitalization:

The

market

capitalization

of

a

company

is

equal

to

the

number

of

the

company’s

common

shares

outstanding

multiplied

by

the

current

price

of

the

company’s

stock.

Net

Asset

Value

(NAV)

Per

Share:

A

fund’s

Net

Assets

is

equal

to

its

total

assets

(securities,

cash

and

accrued

earnings)

less

its

total

liabilities.

For

funds

with

multiple

classes,

Net

Assets

are

determined

separately

for

each

share

class.

NAV

per

share

is

equal

to

the

fund’s

(or

share

class’)

Net

Assets

divided

by

its

number

of

shares

outstanding.

Russell

1000®

Value

Index:

An

index

designed

to

measure

the

performance

of

the

large-cap

value

segment

of

the

U.S.

equity

universe.

It

includes

those

Russell

1000

companies

with

lower

price-to-book

ratios

and

lower

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

2000®

Index:

An

index

designed

to

measure

the

performance

of

the

small-cap

segment

of

the

U.S.

equity

universe.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

2000®

Growth

Index:

An

index

designed

to

measure

the

performance

of

those

Russell

2000®

companies

with

higher

price-to-book

ratios

and

higher

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

107

Russell

2000®

Value

Index:

An

index

designed

to

measure

the

performance

of

the

small-cap

value

segment

of

the

U.S.

equity

universe.

It

includes

those

Russell

2000

companies

with

lower

price-to-book

ratios

and

lower

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

Midcap®

Growth

Index:

An

index

designed

to

measure

the

performance

of

the

mid-cap

growth

segment

of

the

U.S.

equity

universe,

and

includes

those

Russell

Midcap®

Index

companies

with

higher

price-to-book

ratios

and

higher

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Russell

Midcap®

Value

Index:

An

index

designed

to

measure

the

performance

of

the

mid-cap

value

segment

of

the

U.S.

equity

universe,

and

includes

those

Russell

Midcap®

Index

companies

with

lower

price-to-book

ratios

and

lower

forecasted

growth

values.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

S&P

500®

Index:

An

index

generally

considered

representative

of

the

U.S.

equity

market.

The

index

includes

500

leading

companies

and

covers

approximately

80%

of

available

market

capitalization.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

Tax

Equalization

:

The

practice

of

treating

a

portion

of

the

distribution

made

to

a

redeeming

shareholder,

which

represents

their

proportionate

part

of

undistributed

net

investment

income

and

capital

gain

as

a

distribution

for

tax

purposes.

Such

amounts

are

referred

to

as

the

equalization

debits

(or

payments)

and

will

be

considered

a

distribution

to

the

shareholder

of

net

investment

income

and

capital

gain

for

calculation

of

the

fund’s

dividends

paid

deduction.

108

Liquidity

Risk

Management

Program

(Unaudited)

Discussion

of

the

operation

and

effectiveness

of

the

Funds’

liquidity

risk

management

program

In

compliance

with

Rule

22e-4

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Liquidity

Rule”),

each

Fund

covered

in

this

Report

the

“Funds”)

has

adopted

and

implemented

a

liquidity

risk

management

program

(the

“Program”),

which

is

designed

to

manage

the

Fund’s

liquidity

risk.

The

Program

consists

of

various

protocols

for

assessing

and

managing

each

Fund’s

liquidity

risk.

The

Funds’

Board

of

Trustees

previously

designated

Nuveen

Fund

Advisors,

LLC,

the

Funds’

investment

adviser,

as

the

Administrator

of

the

Program.

The

adviser’s

Liquidity

Monitoring

and

Analysis

Team

(“LMAT”)

carries

out

day-to-day

Program

management

with

oversight

by

the

adviser’s

Liquidity

Oversight

Sub-Committee

(the

LOSC”).

The

LOSC

is

composed

of

personnel

from

the

adviser

and

Teachers

Advisors,

LLC,

an

affiliate

of

the

adviser.

At

a

May

23-25,

2022

meeting

of

the

Board,

the

Administrator

provided

the

Board

with

a

written

report

addressing

the

Program’s

operation,

adequacy

and

effectiveness

of

implementation

for

calendar

year

2021

(the

“Review

Period”),

as

required

under

the

Liquidity

Rule.

The

report

noted

that

the

Program

has

been

and

continues

to

be

adequately

and

effectively

implemented

to

monitor

and

(as

applicable)

respond

to

each

Fund’s

liquidity

developments.

In

accordance

with

the

Program,

the

LMAT

assesses

each

Fund’s

liquidity

risk

no

less

frequently

than

annually

based

on

various

factors,

such

as

(1)

the

Fund’s

investment

strategy

and

the

liquidity

of

portfolio

investments,

(ii)

cash

flow

projections,

and

(ii)

holdings

of

cash

and

cash

equivalents,

borrowing

arrangements,

and

other

funding

sources.

Certain

factors

are

considered

under

both

normal

and

reasonably

foreseeable

stressed

conditions.

Each

Fund

portfolio

investment

is

classified

into

one

of

four

liquidity

categories

(including

the

most

liquid,

“Highly

Liquid”,

and

the

least

liquid,

“lliquid”,

discussed

below),

The

classification

is

based

on

a

determination

of

how

long

it

is

reasonably

expected

to

take

to

convert

the

investment

into

cash,

or

sell

or

dispose

of

the

investment,

in

current

market

conditions

without

significantly

changing

the

market

value

of

the

investment

Liquidity

classification

determinations

take

into

account

various

market,

trading,

and

investment-specific

considerations,

as

well

as

market

depth,

and

use

third-

party

vendor

data.

Any

Fund

that

does

not

primarily

hold

highly

liquid

investments

must,

among

other

things,

determine

a

minimum

percentage

of

Fund

assets

that

must

be

invested

in

highly

liquid

investments

(a

“Highly

Liquid

Investment

Minimum”).

During

the

Review

Period,

each

Fund

primarily

held

Highly

Liquid

investments

and

therefore

was

exempt

from

the

requirement

to

adopt

a

Highly

Liquid

Investment

Minimum

and

to

comply

with

the

related

requirements

under

the

Liquidity

Rule.

The

Liquidity

Rule

also

limits

a

Fund’s

investments

in

Illiquid

investments.

Specifically,

the

Liquidity

Rule

prohibits

a

Fund

from

acquiring

Illiquid

investments

if

doing

so

would

result

in

the

Fund

holding

more

than

15%

of

its

net

assets

in

illiquid

investments,

and

requires

certain

reporting

to

the

Fund

Board

and

the

Securities

and

Exchange

Commission

any

time

a

Fund’s

holdings

of

Illiquid

investments

exceeds

15%

of

net

assets.

During

the

Review

Period,

no

Fund

exceeded

the

15%

limit

on

Illiquid

investments.

Annual

Investment

Management

Agreement

Approval

Process

(Unaudited)

109

At

a

meeting

held

on

May

23-25,

2022

(the

“May

Meeting”),

the

Board

of

Directors

(the

“Board”

and

each

Director,

a

“Board

Member”)

of

the

Funds,

which

is

comprised

entirely

of

Board

Members

who

are

not

“interested

persons”

(as

defined

under

the

Investment

Company

Act

of

1940

(the

“1940

Act”))

(the

“Independent

Board

Members”),

approved,

for

each

Fund,

the

renewal

of

the

management

agreement

(each,

an

“Investment

Management

Agreement”)

with

Nuveen

Fund

Advisors,

LLC

(the

“Adviser”)

pursuant

to

which

the

Adviser

serves

as

investment

adviser

to

such

Fund

and

the

sub-advisory

agreement

(each,

a

“Sub-Advisory

Agreement”)

with

Nuveen

Asset

Management,

LLC

(the

“Sub-Adviser”)

pursuant

to

which

the

Sub-Adviser

serves

as

the

sub-adviser

to

such

Fund

for

an

additional

one-year

term.

As

the

Board

is

comprised

of

all

Independent

Board

Members,

the

references

to

the

Board

and

the

Independent

Board

Members

are

interchangeable.

Following

up

to

an

initial

two-year

period,

the

Board

considers

the

renewal

of

each

Investment

Management

Agreement

and

Sub-Advisory

Agreement

on

behalf

of

the

applicable

Fund

on

an

annual

basis.

The

Investment

Management

Agreements

and

Sub-Advisory

Agreements

are

collectively

referred

to

as

the

“Advisory

Agreements,”

and

the

Adviser

and

the

Sub-Adviser

are

collectively,

the

“Fund

Advisers”

and

each,

a

“Fund

Adviser.”

The

Board

has

established

various

standing

committees

composed

of

various

Independent

Board

Members

that

are

assigned

specific

responsibilities

to

enhance

the

effectiveness

of

the

Board’s

oversight

and

decision

making.

Throughout

the

year,

the

Board

and

its

committees

meet

regularly

and,

at

these

meetings,

receive

regular

and/or

special

reports

that

cover

an

extensive

array

of

topics

and

information

that

are

relevant

to

the

Board’s

annual

consideration

of

the

renewal

of

the

advisory

agreements

for

the

Nuveen

funds.

Such

information

may

address,

among

other

things,

fund

performance

and

risk

information;

the

Adviser’s

strategic

plans;

product

initiatives

for

various

funds;

the

review

of

the

funds

and

investment

teams;

compliance,

regulatory

and

risk

management

matters;

the

trading

practices

of

the

various

sub-advisers

to

the

Nuveen

funds;

management

of

distributions;

valuation

of

securities;

fund

expenses;

payments

to

financial

intermediaries,

including

12b-1

fees

and

sub-transfer

agency

fees,

if

applicable;

securities

lending;

liquidity

management;

and

overall

market

and

regulatory

developments.

The

Board

also

seeks

to

meet

periodically

with

the

Nuveen

funds’

sub-advisers

and/or

portfolio

teams,

when

feasible.

The

Board

further

meets,

among

other

things,

to

specifically

consider

the

annual

renewal

of

the

advisory

agreements

for

the

Nuveen

funds.

In

connection

with

its

annual

consideration

of

the

advisory

agreements

for

the

Nuveen

funds,

the

Board,

through

its

independent

legal

counsel,

requested

and

received

extensive

materials

and

information

prepared

specifically

for

its

review

of

such

advisory

agreements

by

the

Adviser

and

by

Broadridge

Financial

Solutions,

Inc.

(“Broadridge”),

an

independent

provider

of

investment

company

data.

The

materials

cover

a

wide

range

of

topics

including,

but

not

limited

to,

a

description

of

the

nature,

extent

and

quality

of

services

provided

by

the

Fund

Advisers;

a

review

of

product

actions

taken

during

2021

(such

as

mergers,

liquidations,

fund

launches,

changes

to

investment

teams,

and

changes

to

investment

policies);

a

review

of

each

sub-adviser

to

the

Nuveen

funds

and/or

the

applicable

investment

teams;

an

analysis

of

fund

performance

in

absolute

terms

and

as

compared

to

the

performance

of

certain

peer

funds

and

benchmarks

with

a

focus

on

any

performance

outliers;

an

analysis

of

the

fees

and

expense

ratios

of

the

Nuveen

funds

in

absolute

terms

and

as

compared

to

those

of

certain

peer

funds

with

a

focus

on

any

expense

outliers;

a

review

of

management

fee

schedules;

a

review

of

temporary

and

permanent

expense

caps

and

fee

waivers

for

open-end

funds

(as

applicable)

and

related

expense

savings;

a

description

of

portfolio

manager

compensation;

a

review

of

the

performance

of

various

service

providers;

a

description

of

various

initiatives

Nuveen

had

undertaken

or

continued

in

2021

and

2022

for

the

benefit

of

particular

fund(s)

and/or

the

complex;

a

description

of

the

profitability

or

financial

data

of

Nuveen

and

the

sub-advisers

to

the

Nuveen

funds;

and

a

description

of

indirect

benefits

received

by

the

Adviser

and

the

sub-advisers

as

a

result

of

their

relationships

with

the

Nuveen

funds.

The

information

prepared

specifically

for

the

annual

review

supplemented

the

information

provided

to

the

Board

and

its

committees

and

the

evaluations

of

the

Nuveen

funds

by

the

Board

and

its

committees

during

the

year.

The

Board’s

review

of

the

advisory

agreements

for

the

Nuveen

funds

is

based

on

all

the

information

provided

to

the

Board

and

its

committees

throughout

the

year

as

well

as

the

information

prepared

specifically

with

respect

to

the

annual

review

of

such

advisory

agreements.

In

continuing

its

practice,

the

Board

met

prior

to

the

May

Meeting

to

begin

its

considerations

of

the

renewal

of

the

Advisory

Agreements.

Accordingly,

on

April

13-14,

2022

(the

“April

Meeting”),

the

Board

met

to

review

and

discuss,

in

part,

the

performance

of

the

Nuveen

funds

and

the

Adviser’s

evaluation

of

each

sub-adviser

to

the

Nuveen

funds

and/or

its

investment

teams.

At

the

April

Meeting,

the

Board

Members

asked

questions

and

requested

additional

information

that

was

provided

for

the

May

Meeting.

The

Independent

Board

Members

considered

the

review

of

the

advisory

agreements

for

the

Nuveen

funds

to

be

an

ongoing

process

and

employed

the

accumulated

information,

knowledge

and

experience

the

Board

Members

had

gained

during

their

tenure

on

the

boards

governing

the

Nuveen

funds

and

working

with

the

Adviser

and

sub-advisers

in

their

review

of

the

advisory

agreements.

The

contractual

arrangements

are

a

result

of

multiple

years

of

review,

negotiation

and

information

provided

in

connection

with

the

boards’

annual

review

of

the

Nuveen

funds’

advisory

arrangements

and

oversight

of

the

Nuveen

funds.

The

Independent

Board

Members

were

advised

by

independent

legal

counsel

during

the

annual

review

process

as

well

as

throughout

the

year,

including

meeting

in

executive

sessions

with

such

counsel

at

which

no

representatives

from

the

Adviser

or

the

Sub-Adviser

were

present.

In

connection

with

their

annual

review,

the

Independent

Board

Members

also

received

a

memorandum

from

independent

legal

counsel

outlining

their

fiduciary

duties

and

legal

standards

in

reviewing

the

Advisory

Agreements,

including

guidance

from

court

cases

evaluating

advisory

fees.

The

Board’s

decision

to

renew

the

Advisory

Agreements

was

not

based

on

a

single

identified

factor,

but

rather

the

decision

reflected

the

comprehensive

consideration

of

all

the

information

provided

to

the

Board

and

its

committees

throughout

the

year

as

well

as

the

materials

prepared

specifically

in

connection

with

the

renewal

process.

Each

Board

Member

may

have

attributed

different

levels

of

importance

to

the

various

factors

and

information

considered

in

connection

with

the

approval

process

and

may

place

different

emphasis

on

the

relevant

information

year

to

year

in

light

of,

among

other

things,

changing

market

and

economic

conditions.

A

summary

of

the

principal

factors

and

information,

but

not

all

the

factors,

the

Board

considered

in

deciding

to

renew

the

Advisory

Agreements

is

set

forth

below.

110

Annual

Investment

Management

Agreement

Approval

Process

(Unaudited)

(continued)

A.

Nature,

Extent

and

Quality

of

Services

In

evaluating

the

renewal

of

the

Advisory

Agreements,

the

Independent

Board

Members

received

and

considered

information

regarding

the

nature,

extent

and

quality

of

the

applicable

Fund

Adviser’s

services

provided

to

the

respective

Fund

with

particular

focus

on

the

services

and

enhancements

to

such

services

provided

during

the

last

year.

The

Independent

Board

Members

considered

the

Investment

Management

Agreements

and

the

Sub-Advisory

Agreements

separately

in

the

course

of

their

review.

With

this

approach,

they

considered

the

respective

roles

of

the

Adviser

and

the

Sub-Adviser

in

providing

services

to

the

Funds.

The

Board

recognized

that

the

Nuveen

funds

operate

in

a

highly

regulated

industry

and,

therefore,

the

Adviser

has

provided

a

wide

array

of

management,

oversight

and

administrative

services

to

manage

and

operate

the

funds,

and

the

scope

and

complexity

of

these

services

have

expanded

over

time

as

a

result

of,

among

other

things,

regulatory,

market

and

other

developments.

The

Board

accordingly

considered

the

Adviser’s

dedication

of

extensive

resources,

time,

people

and

capital

employed

to

support

and

manage

the

Nuveen

funds

as

well

as

the

Adviser’s

continued

program

of

developing

improvements

and

innovations

for

the

benefit

of

the

funds

and

shareholders

and

to

meet

the

ever

increasing

regulatory

requirements

applicable

to

the

funds.

In

this

regard,

the

Board

received

and

reviewed

information

regarding,

among

other

things,

the

Adviser’s

investment

oversight

responsibilities,

regulatory

and

compliance

services,

administrative

duties

and

other

services.

The

Board

considered

the

Adviser’s

investment

oversight

team’s

extensive

services

in

overseeing

the

various

sub-advisers

to

the

Nuveen

funds;

evaluating

fund

performance;

and

preparing

reports

to

the

Board

addressing,

among

other

things,

fund

performance,

market

conditions,

investment

team

matters,

product

developments

and

management

proposals.

The

Board

further

recognized

the

range

of

services

the

various

teams

of

the

Adviser

provided

including,

but

not

limited

to,

overseeing

operational

and

risk

management;

managing

liquidity;

overseeing

the

daily

valuation

process;

and

managing

distributions

in

seeking

to

deliver

long-term

fund

earnings

to

shareholders

consistent

with

the

respective

Nuveen

fund’s

product

design

and

positioning.

The

Board

also

considered

the

structure

of

investment

personnel

compensation

of

each

Fund

Adviser

and

whether

the

structure

provides

appropriate

incentives

to

attract

and

maintain

qualified

personnel

and

to

act

in

the

best

interests

of

the

respective

Nuveen

fund.

The

Board

further

recognized

that

the

Adviser’s

compliance

and

regulatory

functions

were

integral

to

the

investment

management

of

the

Nuveen

funds.

The

Board

recognized

such

services

included,

but

were

not

limited

to,

managing

compliance

policies;

monitoring

compliance

with

applicable

policies,

law

and

regulations;

devising

internal

compliance

programs

and

a

framework

to

review

and

assess

compliance

programs;

overseeing

sub-adviser

compliance

testing;

preparing

compliance

training

materials;

and

responding

to

regulatory

requests.

The

Board

further

considered

information

regarding

the

Adviser’s

business

continuity

and

disaster

recovery

plans

as

well

as

information

regarding

its

information

security

program,

including

presentations

of

such

program

provided

at

a

site

visit

in

2022,

to

help

identify

and

manage

information

security

risks.

In

addition

to

the

above

functions,

the

Board

considered

that

the

Adviser

also

provides,

among

other

things,

fund

administration

services

(such

as

preparing

fund

tax

returns

and

other

tax

compliance

services;

preparing

regulatory

filings;

interacting

with

the

Nuveen

funds’

independent

public

accountants

and

overseeing

other

service

providers;

and

managing

fund

budgets

and

expenses);

product

management

services

(such

as

evaluating

and

enhancing

products

and

strategies);

legal

services

(such

as

helping

to

prepare

and

file

registration

statements

and

proxy

statements;

overseeing

fund

activities

and

providing

legal

interpretations

regarding

such

activities;

maintaining

regulatory

registrations

and

negotiating

agreements

with

other

fund

service

providers;

and

monitoring

changes

in

regulatory

requirements

and

commenting

on

rule

proposals

impacting

investment

companies);

and

oversight

of

shareholder

services

and

transfer

agency

functions

(such

as

overseeing

transfer

agent

service

providers

which

include

registered

shareholder

customer

service

and

transaction

processing;

overseeing

proxy

solicitation

and

tabulation

services;

and

overseeing

the

production

and

distribution

of

financial

reports

by

service

providers).

The

Board

also

considered

the

quality

of

support

services

and

communications

the

Adviser

provided

the

Board,

including,

in

part,

organizing

and

administrating

Board

meetings

and

supporting

Board

committees;

preparing

regular

and

ad

hoc

reports

on

fund

performance,

market

conditions

and

investment

team

matters;

providing

due

diligence

reports

addressing

product

development

and

management

proposals;

and

coordinating

site

visits

of

the

Board

and

presentations

by

investment

teams

and

senior

management.

In

addition

to

the

services

provided,

the

Board

considered

the

financial

resources

of

the

Adviser

and

its

affiliates

and

their

willingness

to

make

investments

in

the

technology,

personnel

and

infrastructure

to

support

the

Nuveen

funds,

including

maintaining

a

seed

capital

budget

to

support

new

or

existing

funds

and/or

facilitate

changes

for

a

respective

fund.

Further,

the

Board

noted

the

benefits

to

shareholders

of

investing

in

a

fund

that

is

a

part

of

a

large

fund

complex

with

a

variety

of

investment

disciplines,

capabilities,

expertise

and

resources

available

to

navigate

and

support

the

Nuveen

funds

including

during

stressed

times.

The

Board

recognized

the

overall

reputation

and

capabilities

of

the

Adviser

and

its

affiliates,

the

Adviser’s

continuing

commitment

to

provide

high

quality

services,

its

willingness

to

implement

operational

or

organizational

changes

in

seeking,

among

other

things,

to

enhance

efficiencies

and

services

to

the

Nuveen

funds

and

its

responsiveness

to

the

Board’s

questions

and/or

concerns

raised

throughout

the

year

and

during

the

annual

review

of

advisory

agreements.

The

Board

also

considered

the

significant

risks

borne

by

the

Adviser

and

its

affiliates

in

connection

with

their

services

to

the

Nuveen

funds,

including

entrepreneurial

risks

in

sponsoring

new

funds

and

ongoing

risks

with

managing

the

funds

such

as

investment,

operational,

reputational,

regulatory,

compliance

and

litigation

risks.

In

evaluating

services,

the

Board

reviewed

various

highlights

of

the

initiatives

the

Adviser

and

its

affiliates

have

undertaken

or

continued

in

2021

and

2022

to

benefit

the

Nuveen

complex

and/or

particular

Nuveen

funds

and

meet

the

requirements

of

an

increasingly

complex

regulatory

environment

including,

but

not

limited

to:

Centralization

of

Functions

–

ongoing

initiatives

to

centralize

investment

leadership

and

create

a

more

cohesive

market

approach

and

centralized

shared

support

model

(including

through

the

consolidation

of

certain

affiliated

sub-advisers)

in

seeking

to

operate

more

effectively

and

enhance

the

research

capabilities

and

services

to

the

Nuveen

funds;

111

Fund

Improvements

and

Product

Management

Initiatives

–

continuing

to

proactively

manage

the

Nuveen

fund

complex

as

a

whole

and

at

the

individual

fund

level

with

an

aim

to

continually

improve

product

platforms

and

investment

strategies

to

better

serve

shareholders

through,

among

other

things,

rationalizing

the

product

line

and

gaining

efficiencies

through

mergers,

repositionings

and

liquidations;

launching

new

funds;

reviewing

and

updating

investment

policies

and

benchmarks;

soft

closing

certain

funds;

modifying

the

conversion

periods

on

certain

share

classes;

and

evaluating

and

adjusting

portfolio

management

teams

as

appropriate

for

various

funds;

Capital

Initiatives

–

continuing

to

invest

capital

to

support

new

Nuveen

funds

with

initial

capital

as

well

as

to

support

existing

funds;

Liquidity

Management

–

continuing

to

operate

the

liquidity

management

program

of

the

applicable

Nuveen

funds

including

monitoring

daily

their

liquidity

profile

and

assessing

annually

the

overall

liquidity

risk

of

such

funds;

Compliance

Program

Initiatives

–

continuing

efforts

to

mitigate

compliance

risk

with

a

focus

on

environmental,

social

and

governance

(“ESG”)

controls

and

processes,

increase

operating

efficiencies,

implement

enhancements

to

strengthen

ongoing

execution

of

key

compliance

program

elements,

support

international

business

growth

and

facilitate

integration

of

Nuveen’s

operating

model;

Investment

Oversight

–

preparing

reports

to

the

Board

addressing,

among

other

things,

fund

performance;

market

conditions;

investment

team

matters;

product

developments;

changes

to

mandates,

policies

and

benchmarks;

and

other

management

proposals

as

well

as

preparing

and

coordinating

investment

presentations

to

the

Board;

Risk

Management

and

Valuation

Services

–

continuing

to

oversee

and

manage

risk

including,

among

other

things,

conducting

ongoing

calculations

and

monitoring

of

risk

measures

across

the

Nuveen

funds,

instituting

investment

risk

controls,

providing

risk

reporting

throughout

Nuveen,

participating

in

internal

oversight

committees,

dedicating

the

resources

and

time

to

develop

the

processes

necessary

to

help

address

fund

compliance

with

the

new

derivatives

rule

and

continuing

to

implement

an

operational

risk

framework

that

seeks

to

provide

greater

transparency

of

operational

risk

matters

across

the

complex

as

well

as

provide

multiple

other

risk

programs

that

seek

to

provide

a

more

disciplined

and

consistent

approach

to

identifying

and

mitigating

Nuveen’s

operational

risks.

Further,

the

securities

valuation

team

continues,

among

other

things,

to

oversee

the

daily

valuation

process

of

the

portfolio

securities

of

the

funds,

maintain

the

valuation

policies

and

procedures,

facilitate

valuation

committee

meetings,

manage

relationships

with

pricing

vendors,

prepare

relevant

valuation

reports

and

design

methods

to

simplify

and

enhance

valuation

workflow

within

the

organization

and

implement

processes

and

procedures

to

help

address

compliance

with

the

new

valuation

rule

applicable

to

the

funds;

Regulatory

Matters

–

continuing

efforts

to

monitor

regulatory

trends

and

advocate

on

behalf

of

Nuveen

and/or

the

Nuveen

funds,

to

implement

and

comply

with

new

or

revised

rules

and

mandates

and

to

respond

to

regulatory

inquiries

and

exams;

Government

Relations

–

continuing

efforts

of

various

Nuveen

teams

and

Nuveen’s

affiliates

to

develop

policy

positions

on

a

broad

range

of

issues

that

may

impact

the

Nuveen

funds,

advocate

and

communicate

these

positions

to

lawmakers

and

other

regulatory

authorities

and

work

with

trade

associations

to

ensure

these

positions

are

represented;

Business

Continuity,

Disaster

Recovery

and

Information

Security

–

continuing

efforts

of

Nuveen

to

periodically

test

and

update

business

continuity

and

disaster

recovery

plans

and,

together

with

its

affiliates,

to

maintain

an

information

security

program

that

seeks

to

identify

and

manage

information

security

risks,

and

provide

reports

to

the

Board,

at

least

annually,

addressing,

among

other

things,

management’s

security

risk

assessment,

cyber

risk

profile,

potential

impact

of

new

or

revised

laws

and

regulations,

incident

tracking

and

other

relevant

information

technology

risk-related

reports;

and

Distribution

Management

Services

–

continuing

to

manage

the

distributions

among

the

varying

types

of

Nuveen

funds

within

the

Nuveen

complex

to

be

consistent

with

the

respective

fund’s

product

design

and

positioning

in

striving

to

deliver

those

earnings

to

shareholders

in

a

relatively

consistent

manner

over

time

as

well

as

assisting

in

the

development

of

new

products

or

the

restructuring

of

existing

funds.

The

Board

further

considered

the

division

of

responsibilities

between

the

Adviser

and

the

Sub-Adviser

and

recognized

that

the

Sub-Adviser

and

its

investment

personnel

generally

are

responsible

for

the

management

of

each

Fund’s

portfolio

under

the

oversight

of

the

Adviser

and

the

Board.

The

Board

considered

an

analysis

of

the

Sub-Adviser

provided

by

the

Adviser

which

included,

among

other

things,

the

assets

under

management

of

the

applicable

investment

team

and

changes

thereto,

a

summary

of

the

applicable

investment

team

and

changes

thereto,

the

investment

process

and

philosophy

of

the

applicable

investment

team,

the

performance

of

the

Nuveen

funds

sub-advised

by

the

Sub-Adviser

over

various

periods

of

time

and

a

summary

of

any

significant

policy

and/or

other

changes

to

the

Nuveen

funds

sub-advised

by

the

Sub-Adviser.

The

Board

further

considered

at

the

May

Meeting

or

prior

meetings

evaluations

of

the

Sub-Adviser’s

compliance

programs

and

trade

execution.

The

Board

noted

that

the

Adviser

recommended

the

renewal

of

the

Sub-Advisory

Agreements.

Based

on

its

review,

the

Board

determined,

in

the

exercise

of

its

reasonable

business

judgment,

that

it

was

satisfied

with

the

nature,

extent

and

quality

of

services

provided

to

the

respective

Funds

under

each

applicable

Advisory

Agreement.

B.

The

Investment

Performance

of

the

Funds

and

Fund

Advisers

In

evaluating

the

quality

of

the

services

provided

by

the

Fund

Advisers,

the

Board

also

received

and

considered

a

variety

of

investment

performance

data

of

the

Nuveen

funds

they

advise.

In

evaluating

performance,

the

Board

recognized

that

performance

data

may

differ

significantly

depending

on

the

ending

date

selected,

particularly

during

periods

of

market

volatility,

and

therefore

considered

the

broader

perspective

of

performance

over

a

variety

of

time

periods

that

may

include

full

market

cycles.

In

this

regard,

the

Board

reviewed,

among

other

things,

Fund

performance

over

the

quarter,

one-,

three-

and

five-year

periods

ending

December 31,

2021

and

March

31,

2022.

The

performance

data

was

based

on

Class

A

shares;

however,

the

performance

of

other

classes

should

be

substantially

similar

as

they

invest

in

the

same

portfolio

of

securities

and

differences

in

performance

among

the

classes

would

be

principally

attributed

to

the

variations

in

the

expense

structures

of

the

classes.

The

performance

data

prepared

for

the

annual

review

of

the

advisory

agreements

for

the

Nuveen

funds

supplemented

the

fund

performance

data

that

the

Board

112

Annual

Investment

Management

Agreement

Approval

Process

(Unaudited)

(continued)

received

throughout

the

year

at

its

meetings

representing

differing

time

periods.

In

its

review,

the

Board

took

into

account

the

discussions

with

representatives

of

the

Adviser;

the

Adviser’s

analysis

regarding

fund

performance

that

occurred

at

these

Board

meetings

with

particular

focus

on

funds

that

were

considered

performance

outliers

(both

overperformance

and

underperformance);

the

factors

contributing

to

the

performance;

and

any

recommendations

or

steps

taken

to

address

performance

concerns.

Regardless

of

the

time

period

reviewed

by

the

Board,

the

Board

recognized

that

shareholders

may

evaluate

performance

based

on

their

own

holding

periods

which

may

differ

from

the

periods

reviewed

by

the

Board

and

lead

to

differing

results.

In

its

review,

the

Board

reviewed

both

absolute

and

relative

fund

performance

during

the

annual

review

over

the

various

time

periods.

With

respect

to

the

latter,

the

Board

considered

fund

performance

in

comparison

to

the

performance

of

peer

funds

(the

“Performance

Peer

Group”)

and

recognized

and/or

customized

benchmarks

(i.e.,

generally

benchmarks

derived

from

multiple

recognized

benchmarks).

For

Nuveen

funds

that

had

changes

in

portfolio

managers

or

other

significant

changes

to

their

investment

strategies

or

policies

since

March

2019,

the

Board

reviewed

certain

tracking

performance

data

comparing

the

performance

of

such

funds

before

and

after

such

changes.

In

considering

performance

data,

the

Board

is

aware

of

certain

inherent

limitations

with

such

data,

including

that

differences

between

the

objective(s),

strategies

and

other

characteristics

of

the

Nuveen

funds

compared

to

the

respective

Performance

Peer

Group

and/or

benchmark(s);

differences

in

the

composition

of

the

Performance

Peer

Group

over

time;

and

differences

in

the

types

and/or

levels

of

any

leverage

and

related

costs

with

that

of

the

Performance

Peer

Group

would

all

necessarily

contribute

to

differences

in

performance

results

and

limit

the

value

of

the

comparative

information.

Further,

the

Board

recognized

the

inherent

limitations

in

comparing

the

performance

of

an

actively

managed

fund

to

a

benchmark

index

due

to

the

fund’s

pursuit

of

an

investment

strategy

that

does

not

directly

follow

the

index.

To

assist

the

Board

in

its

review

of

the

comparability

of

the

relative

performance,

the

Adviser

has

ranked

the

relevancy

of

the

peer

group

to

the

Funds

as

low,

medium

or

high.

The

Board

also

evaluated

performance

in

light

of

various

relevant

factors

which

may

include,

among

other

things,

general

market

conditions,

issuer-

specific

information,

asset

class

information,

leverage

and

fund

cash

flows.

In

relation

to

general

market

conditions,

the

Board

had

recognized

the

recent

periods

in

2022

of

general

market

volatility

and

underperformance.

In

their

review

from

year

to

year,

the

Board

Members

consider

and

may

place

different

emphasis

on

the

relevant

information

in

light

of

changing

circumstances

in

market

and

economic

conditions.

Further,

the

Board

recognized

that

the

market

and

economic

conditions

may

significantly

impact

a

fund’s

performance,

particularly

over

shorter

periods,

and

such

performance

may

be

more

reflective

of

such

economic

or

market

events

and

not

necessarily

reflective

of

management

skill.

Accordingly,

depending

on

the

facts

and

circumstances

including

any

differences

between

the

respective

Nuveen

fund

and

its

benchmark

and/or

Performance

Peer

Group,

the

Board

may

be

satisfied

with

a

fund’s

performance

notwithstanding

that

its

performance

may

be

below

that

of

its

benchmark

or

peer

group

for

certain

periods.

However,

with

respect

to

any

Nuveen

funds

for

which

the

Board

has

identified

performance

issues,

the

Board

monitors

such

funds

closely

until

performance

improves,

discusses

with

the

Adviser

the

reasons

for

such

results,

considers

whether

any

steps

are

necessary

or

appropriate

to

address

such

issues,

and

reviews

the

results

of

any

steps

undertaken.

The

Board’s

determinations

with

respect

to

each

Fund

are

summarized

below.

For

Nuveen

Dividend

Value

Fund

(the

“Dividend

Value

Fund”),

the

Board

noted

that

the

Fund’s

performance

was

below

the

performance

of

its

benchmark

for

the

three-

and

five-year

periods

ended

December 31,

2021,

but

the

Fund

outperformed

its

benchmark

for

the

one-year

period

ended

December 31,

2021.

Although

the

Fund

ranked

in

the

fourth

quartile

of

its

Performance

Peer

Group

for

the

three-year

period

ended

December 31,

2021,

the

Fund

ranked

in

the

second

quartile

of

its

Performance

Peer

Group

for

the

one-year

period

ended

December

31,

2021

and

the

third

quartile

for

the

five-year

period

ended

December 31,

2021.

Further,

for

the

periods

ended

March 31,

2022,

the

Fund’s

performance

was

below

the

performance

of

its

benchmark

for

the

one-,

three-

and

five-year

periods,

and

the

Fund

ranked

in

the

third

quartile

of

its

Performance

Peer

Group

for

the

one-year

period

and

fourth

quartile

for

the

three-

and

five-year

periods.

Based

on

its

review,

the

Board

was

generally

satisfied

with

the

overall

performance

of

the

Fund.

For

Nuveen

Large

Cap

Select

Fund

(the

“Large

Cap

Select

Fund”),

the

Board

noted

that

the

Fund’s

performance

was

below

the

performance

of

its

benchmark

for

the

one-,

three-

and

five-year

periods

ended

December 31,

2021,

and

the

Fund

ranked

in

the

third

quartile

of

its

Performance

Peer

Group

for

the

one-year

period

ended

December 31,

2021

and

the

fourth

quartile

for

the

three-

and

five-year

periods

ended

December 31,

2021.

Further,

for

periods

ended

March 31,

2022,

the

Fund’s

performance

was

below

the

performance

of

its

benchmark

and

the

Fund

ranked

in

the

fourth

quartile

of

its

Performance

Peer

Group

for

the

one-,

three-

and

five-year

periods.

The

Board

considered

the

factors

that

impacted

Fund

performance

and

was

satisfied

with

the

steps

taken

to

help

address

performance

challenges.

For

Nuveen

Mid

Cap

Growth

Opportunities

Fund

(the

“Mid

Cap

Growth

Opportunities

Fund”),

the

Board

noted

that

the

Fund’s

performance

was

below

the

performance

of

its

benchmark

and

the

Fund

ranked

in

the

fourth

quartile

of

its

Performance

Peer

Group

for

the

one-,

three-

and

five-

year

periods

ended

December 31,

2021.

Further,

although

the

Fund’s

performance

was

below

the

performance

of

its

benchmark

for

the

one-,

three-

and

five-

year

periods

ended

March 31,

2022

and

the

Fund

ranked

in

the

fourth

quartile

of

its

Performance

Peer

Group

for

the

three-

and

five-year

periods

ended

March 31,

2022,

the

Fund

ranked

in

the

third

quartile

of

its

Performance

Peer

Group

for

the

more

recent

one-year

period

ended

March 31,

2022.

The

Board

considered

the

factors

that

impacted

Fund

performance

and

was

satisfied

with

the

steps

taken

in

addressing

performance

challenges.

For

Nuveen

Mid

Cap

Value

Fund

(the

“Mid

Cap

Value

Fund”),

the

Board

noted

that

the

Fund

outperformed

its

benchmark

for

the

one-,

three-

and

five-year

periods

ended

December 31,

2021,

and

the

Fund

ranked

in

the

first

quartile

of

its

Performance

Peer

Group

for

the

one-

and

five-year

periods

ended

December

31,

2021

and

the

second

quartile

for

the

three-year

period

ended

December 31,

2021.

Similarly,

the

Fund

outperformed

113

its

benchmark

for

the

one-,

three-

and

five-year

periods

ended

March 31,

2022,

and

the

Fund

ranked

in

the

first

quartile

of

its

Performance

Peer

Group

for

the

one-

and

five-year

periods

ended

March

31,

2022

and

the

second

quartile

for

the

three-year

period

ended

March 31,

2022.

Based

on

its

review,

the

Board

was

generally

satisfied

with

the

overall

performance

of

the

Fund.

For

Nuveen

Small

Cap

Growth

Opportunities

Fund

(the

“Small

Cap

Growth

Opportunities

Fund”),

the

Board

noted

that

the

Fund

outperformed

its

benchmark

for

the

one-,

three-

and

five-year

periods

ended

December 31,

2021,

and

the

Fund

ranked

in

the

second

quartile

of

its

Performance

Peer

Group

for

the

one-

and

five-year

periods

ended

December

31,

2021

and

the

first

quartile

for

the

three-year

period

ended

December 31,

2021.

For

the

periods

ended

March 31,

2022,

the

Board

noted

that

the

Fund

outperformed

its

benchmark

for

the

one-,

three-

and

five-year

periods,

and

the

Fund

ranked

in

the

third

quartile

of

its

Performance

Peer

Group

for

the

one-year

period,

first

quartile

for

the

three-year

period

and

second

quartile

for

the

five-year

period.

Based

on

its

review,

the

Board

was

generally

satisfied

with

the

overall

performance

of

the

Fund.

For

Nuveen

Small

Cap

Select

Fund

(the

“Small

Cap

Select

Fund”),

the

Board

noted

that

the

Fund

outperformed

its

benchmark

for

the

one-,

three-

and

five-year

periods

ended

December 31,

2021,

and

the

Fund

ranked

in

the

third

quartile

of

its

Performance

Peer

Group

for

the

one-year

period

ended

December

31,

2021

and

the

first

quartile

for

the

three-

and

five-year

periods

ended

December 31,

2021.

Further,

the

Fund

outperformed

its

benchmark

for

the

one-,

three-

and

five-year

periods

ended

March 31,

2022

and

although

the

Fund

ranked

in

the

fourth

quartile

of

its

Performance

Peer

Group

for

the

one-year

period

ended

March

31,

2022,

the

Fund

ranked

in

the

second

quartile

for

the

three-year

period

ended

March

31,

2022

and

first

quartile

for

the

five-year

period

ended

March 31,

2022.

Based

on

its

review,

the

Board

was

generally

satisfied

with

the

overall

performance

of

the

Fund.

For

Nuveen

Small

Cap

Value

Fund

(the

“Small

Cap

Value

Fund”),

the

Board

noted

that

although

the

Fund’s

performance

was

below

the

performance

of

its

benchmark

and

the

Fund

ranked

in

the

fourth

quartile

of

its

Performance

Peer

Group

for

the

three-

and

five-year

periods

ended

December 31,

2021

and

March 31,

2022,

the

Fund

outperformed

its

benchmark

and

ranked

in

the

second

quartile

of

its

Performance

Peer

Group

for

the

one-year

periods

ended

December 31,

2021

and

March 31,

2022.

Based

on

its

review,

the

Board

was

generally

satisfied

with

the

overall

performance

of

the

Fund.

C.

Fees,

Expenses

and

Profitability

1.

Fees

and

Expenses

As

part

of

its

annual

review,

the

Board

considered

the

contractual

management

fee

and

net

management

fee

(the

management

fee

after

taking

into

consideration

fee

waivers

and/or

expense

reimbursements,

if

any)

paid

by

a

Nuveen

fund

to

the

Adviser

in

light

of

the

nature,

extent

and

quality

of

the

services

provided.

The

Board

also

considered

the

total

operating

expense

ratio

of

a

fund

before

and

after

any

fee

waivers

and/or

expense

reimbursements.

More

specifically,

the

Independent

Board

Members

reviewed,

among

other

things,

each

fund’s

gross

and

net

management

fee

rates

(i.e.,

before

and

after

expense

reimbursements

and/or

fee

waivers,

if

any)

and

net

total

expense

ratio

in

relation

to

those

of

a

comparable

universe

of

funds

(the

“Peer

Universe”)

and/or

to

a

more

focused

subset

of

comparable

funds

(the

“Peer

Group”)

established

by

Broadridge

(subject

to

certain

exceptions).

The

Independent

Board

Members

reviewed

the

methodology

Broadridge

employed

to

establish

its

Peer

Universe

and

Peer

Group

and

recognized

that

differences

between

the

applicable

fund

and

its

respective

Peer

Universe

and/or

Peer

Group

as

well

as

changes

to

the

composition

of

the

Peer

Group

and/or

Peer

Universe

from

year

to

year

may

limit

some

of

the

value

of

the

comparative

data.

The

Independent

Board

Members

take

these

limitations

and

differences

into

account

when

reviewing

comparative

peer

data.

The

Independent

Board

Members

also

considered

a

fund’s

operating

expense

ratio

as

it

more

directly

reflected

the

shareholder’s

costs

in

investing

in

the

respective

fund.

In

their

review,

the

Independent

Board

Members

considered,

in

particular,

each

fund

with

a

net

expense

ratio

of

six

basis

points

or

higher

compared

to

that

of

its

peer

average

(each,

an

“Expense

Outlier

Fund”)

and

an

analysis

as

to

the

factors

contributing

to

each

such

fund’s

higher

relative

net

expense

ratio.

Accordingly,

in

reviewing

the

comparative

data

between

a

fund

and

its

peers,

the

Board

generally

considered

the

fund’s

net

expense

ratio

and

fees

to

be

higher

if

they

were

over

10

basis

points

higher,

slightly

higher

if

they

were

6

to

10

basis

points

higher,

in

line

if

they

were

within

approximately

5

basis

points

higher

than

the

peer

average

and

below

if

they

were

below

the

peer

average

of

the

Peer

Group.

The

Independent

Board

Members

also

considered,

in

relevant

part,

a

fund’s

net

management

fee

and

net

total

expense

ratio

in

light

of

its

performance

history.

In

their

review

of

the

fee

arrangements

for

the

Nuveen

funds,

the

Independent

Board

Members

considered

the

management

fee

schedules,

including

the

complex-wide

and

fund-level

breakpoint

schedules,

and

the

expense

reimbursements

and/or

fee

waivers

provided

by

Nuveen

for

each

fund,

as

applicable.

The

Board

noted

that

across

the

Nuveen

fund

complex,

the

complex-wide

fee

breakpoints

reduced

fees

by

approximately

$72.5

million

and

fund-level

breakpoints

reduced

fees

by

approximately

$89.1

million

in

2021.

Further,

fee

caps

and

waivers

for

all

applicable

Nuveen

funds

saved

approximately

an

additional

$13.6

million

in

fees

for

shareholders

in

2021.

With

respect

to

the

Sub-Adviser,

the

Board

also

considered,

among

other

things,

the

sub-advisory

fee

schedule

paid

to

the

Sub-Adviser

in

light

of

the

sub-advisory

services

provided

to

the

respective

Fund

and

comparative

data

of

the

fees

the

Sub-Adviser

charges

to

other

clients,

if

any.

In

its

review,

the

Board

recognized

that

the

compensation

paid

to

the

Sub-Adviser

is

the

responsibility

of

the

Adviser,

not

the

Funds.

114

Annual

Investment

Management

Agreement

Approval

Process

(Unaudited)

(continued)

The

Independent

Board

Members

noted

that

(a)

the

Dividend

Value

Fund,

Large

Cap

Select

Fund,

Mid

Cap

Value

Fund,

Small

Cap

Growth

Opportunities

Fund,

Small

Cap

Select

Fund

and

Small

Cap

Value

Fund

each

had

a

net

management

fee

and

a

net

expense

ratio

that

were

below

the

respective

peer

averages;

and

(b)

the

Mid

Cap

Growth

Opportunities

Fund

had

a

net

management

fee

and

a

net

expense

ratio

that

were

in

line

with

the

respective

peer

average.

Based

on

its

review

of

the

information

provided,

the

Board

determined

that

each

Fund’s

management

fees

(as

applicable)

to

a

Fund

Adviser

were

reasonable

in

light

of

the

nature,

extent

and

quality

of

services

provided

to

the

Fund.

2.

Comparisons

with

the

Fees

of

Other

Clients

In

determining

the

appropriateness

of

fees,

the

Board

also

considered

information

regarding

the

fee

rates

the

respective

Fund

Advisers

charged

to

certain

other

types

of

clients

and

the

type

of

services

provided

to

these

other

clients.

With

respect

to

the

Adviser

and/or

the

Sub-Adviser,

such

other

clients

may

include:

retail

and

institutional

managed

accounts

advised

by

the

Sub-Adviser;

hedge

funds

or

other

structured

products

managed

by

the

Sub-Adviser;

investment

companies

offered

outside

the

Nuveen

family

and

sub-advised

by

the

Sub-

Adviser;

foreign

investment

companies

offered

by

Nuveen

and

sub-advised

by

the

Sub-Adviser;

and

collective

investment

trusts

sub-advised

by

the

Sub-Adviser.

The

Board

further

noted

that

the

Adviser

also

advised,

and

the

Sub-Adviser

sub-advised,

certain

exchange-traded

funds

(“ETFs”)

sponsored

by

Nuveen.

The

Board

recognized

that

the

Sub-Adviser

was

an

affiliated

sub-adviser

and,

with

respect

to

affiliated

sub-advisers,

the

Board

reviewed,

among

other

things,

the

range

of

fees

assessed

for

managed

accounts,

hedge

funds

(along

with

their

performance

fee),

foreign

investment

companies

and

ETFs

offered

by

Nuveen,

as

applicable.

The

Board

also

reviewed

the

fee

range

and

average

fee

rate

of

certain

selected

investment

strategies

offered

in

retail

and

institutional

managed

accounts

advised

by

the

Sub-Adviser,

the

hedge

funds

advised

by

the

Sub-Adviser

(along

with

their

performance

fee)

and

non-Nuveen

investment

companies

sub-advised

by

certain

affiliated

sub-advisers.

In

considering

the

fee

data

of

other

clients,

the

Board

recognized,

among

other

things,

that

differences

in

the

amount,

type

and

level

of

services

provided

to

the

Nuveen

funds

relative

to

other

types

of

clients

as

well

as

any

differences

in

portfolio

investment

policies,

the

types

of

assets

managed

and

related

complexities

in

managing

such

assets,

the

entrepreneurial

and

other

risks

associated

with

a

particular

strategy,

investor

profiles,

account

sizes

and

regulatory

requirements

will

contribute

to

the

variations

in

the

fee

schedules.

The

Board

recognized

the

breadth

of

services

the

Adviser

had

provided

to

the

Nuveen

funds

compared

to

these

other

types

of

clients

as

the

funds

operate

in

a

highly

regulated

industry

with

increasing

regulatory

requirements

as

well

as

the

increased

entrepreneurial,

legal

and

regulatory

risks

that

the

Adviser

incurs

in

sponsoring

and

managing

the

funds.

Similarly,

with

respect

to

foreign

funds,

the

Board

recognized

that

the

differences

in

the

client

base,

governing

bodies,

distribution

jurisdiction

and

operational

complexities

would

also

contribute

to

variations

in

management

fees

of

the

Nuveen

funds

compared

to

those

of

the

foreign

funds.

Further,

with

respect

to

ETFs,

the

Board

considered

that

certain

Nuveen

ETFs

were

passively

managed

compared

to

the

active

management

of

other

Nuveen

funds

which

also

contributed

to

the

differences

in

fee

levels

between

such

Nuveen

ETFs

and

the

actively-managed

funds.

In

general,

higher

fee

levels

reflect

higher

levels

of

service

provided

by

the

Adviser,

increased

investment

management

complexity,

greater

product

management

requirements,

and

higher

levels

of

business

risk

or

some

combination

of

these

factors.

The

Board

further

considered

that

the

Sub-Adviser’s

fee

is

essentially

for

portfolio

management

services

and

therefore

more

comparable

to

the

fees

it

receives

for

retail

wrap

accounts

and

other

external

sub-

advisory

mandates.

The

Board

concluded

the

varying

levels

of

fees

were

justified

given,

among

other

things,

the

inherent

differences

in

the

products

and

the

level

of

services

provided

to

the

Nuveen

funds

versus

other

clients,

the

differing

regulatory

requirements

and

legal

liabilities

and

the

entrepreneurial,

legal

and

regulatory

risks

incurred

in

sponsoring

and

advising

a

registered

investment

company.

3.

Profitability

of

Fund

Advisers

In

their

review,

the

Independent

Board

Members

considered

information

regarding

Nuveen’s

level

of

profitability

for

its

advisory

services

to

the

Nuveen

funds

for

the

calendar

years

2021

and

2020.

The

Board

reviewed,

among

other

things,

the

net

margins

(pre-tax)

for

Nuveen

Investments,

Inc.

(“Nuveen

Investments”),

the

gross

and

net

revenue

margins

(pre-

and

post-tax

and

excluding

distribution)

and

the

revenues,

expenses

and

net

income

(pre-

and

post-tax

and

before

distribution

expenses)

of

Nuveen

Investments

from

the

Nuveen

funds

only;

and

comparative

profitability

data

comparing

the

operating

margins

of

Nuveen

Investments

compared

to

the

adjusted

operating

margins

of

certain

peers

that

had

publicly

available

data

and

with

the

most

comparable

assets

under

management

(based

on

asset

size

and

asset

composition)

for

each

of

the

last

two

calendar

years.

The

Board

also

reviewed

the

revenues,

expenses

and

operating

margin

(pre-

and

post-tax)

the

Adviser

derived

from

its

ETF

product

line

for

the

2021

and

2020

calendar

years.

In

reviewing

the

profitability

data,

the

Independent

Board

Members

recognized

the

subjective

nature

of

calculating

profitability

as

the

information

is

not

audited

and

is

dependent

on

cost

allocation

methodologies

to

allocate

corporate-wide

overhead/shared

service

expenses,

TIAA

(defined

below)

corporate-wide

overhead

expenses

and

partially

fund

related

expenses

to

the

Nuveen

complex

and

its

affiliates

and

to

further

allocate

such

expenses

between

the

Nuveen

fund

and

non-fund

businesses.

The

Independent

Board

Members

reviewed

a

description

of

the

cost

allocation

methodologies

employed

to

develop

the

financial

information,

a

summary

of

the

history

of

changes

to

the

methodology

over

the

years

from

2010

to

2021,

and

the

net

revenue

margins

derived

from

the

Nuveen

funds

(pre-tax

and

including

and

excluding

distribution)

and

total

company

margins

from

Nuveen

Investments

compared

to

the

firm-wide

adjusted

operating

margins

of

the

peers

for

each

calendar

year

from

2012

to

2021.

The

Board

had

also

appointed

four

Independent

Board

Members

to

serve

as

the

Board’s

liaisons,

with

the

assistance

of

independent

counsel,

to

review

the

development

of

the

profitability

data

and

to

report

to

the

full

Board.

In

its

evaluation,

the

Board,

however,

recognized

that

other

reasonable

and

valid

allocation

methodologies

could

be

employed

and

could

lead

to

significantly

different

results.

The

Independent

Board

Members

also

reviewed

a

summary

of

the

key

drivers

that

affected

Nuveen’s

revenues

and

expenses

impacting

profitability

in

2021

versus

2020.

115

In

reviewing

the

comparative

peer

data

noted

above,

the

Board

considered

that

the

operating

margins

of

Nuveen

Investments

compared

favorably

to

the

peer

group

range

of

operating

margins;

however,

the

Independent

Board

Members

also

recognized

the

limitations

of

the

comparative

data

given

that

peer

data

is

not

generally

public

and

the

calculation

of

profitability

is

subjective

and

affected

by

numerous

factors

(such

as

types

of

funds

a

peer

manages,

its

business

mix,

its

cost

of

capital,

the

numerous

assumptions

underlying

the

methodology

used

to

allocate

expenses

and

other

factors)

that

can

have

a

significant

impact

on

the

results.

Aside

from

Nuveen’s

profitability,

the

Board

recognized

that

the

Adviser

is

a

subsidiary

of

Nuveen,

LLC,

the

investment

management

arm

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”).

Accordingly,

the

Board

also

reviewed

a

balance

sheet

for

TIAA

reflecting

its

assets,

liabilities

and

capital

and

contingency

reserves

for

the

2021

and

2020

calendar

years

to

consider

the

financial

strength

of

TIAA.

The

Board

recognized

the

benefit

of

an

investment

adviser

and

its

parent

with

significant

resources,

particularly

during

periods

of

market

volatility.

The

Board

also

noted

the

reinvestments

Nuveen,

its

parent

and/or

other

affiliates

made

into

its

business

through,

among

other

things,

the

investment

of

seed

capital

in

certain

Nuveen

funds

and

continued

investments

in

enhancements

to

technological

capabilities.

In

addition

to

Nuveen,

the

Independent

Board

Members

considered

the

profitability

of

the

Sub-Adviser

from

its

relationships

with

the

Nuveen

funds.

In

this

regard,

the

Independent

Board

Members

reviewed,

among

other

things,

the

Sub-Adviser’s

revenues,

expenses

and

net

revenue

margins

(pre-

and

post-tax)

for

its

advisory

activities

to

the

respective

funds

for

the

calendar

years

ended

December

31,

2021

and

December

31,

2020.

The

Independent

Board

Members

also

reviewed

a

profitability

analysis

reflecting

the

revenues,

expenses

and

revenue

margin

(pre-

and

post-tax)

by

asset

type

for

the

Sub-Adviser

for

the

calendar

years

ending

December

31,

2021

and

December

31,

2020

and

the

pre-

and

post-tax

revenue

margins

from

2021

and

2020.

In

evaluating

the

reasonableness

of

the

compensation,

the

Independent

Board

Members

also

considered

any

other

ancillary

benefits

derived

by

the

respective

Fund

Adviser

from

its

relationship

with

the

Nuveen

funds

as

discussed

in

further

detail

below.

Based

on

a

consideration

of

all

the

information

provided,

the

Board

noted

that

Nuveen’s

and

the

Sub-Adviser’s

level

of

profitability

was

acceptable

and

not

unreasonable

in

light

of

the

services

provided.

D.

Economies

of

Scale

and

Whether

Fee

Levels

Reflect

These

Economies

of

Scale

The

Board

considered

whether

there

have

been

economies

of

scale

with

respect

to

the

management

of

the

Nuveen

funds

and

whether

these

economies

of

scale

have

been

appropriately

shared

with

the

funds.

The

Board

recognized

that

although

economies

of

scale

are

difficult

to

measure

and

certain

expenses

may

not

decline

with

a

rise

in

assets,

there

are

several

methods

to

help

share

the

benefits

of

economies

of

scale,

including

breakpoints

in

the

management

fee

schedule,

fee

waivers

and/or

expense

limitations,

the

pricing

of

Nuveen

funds

at

scale

at

inception

and

investments

in

Nuveen’s

business

which

can

enhance

the

services

provided

to

the

funds

for

the

fees

paid.

The

Board

noted

that

Nuveen

generally

has

employed

these

various

methods,

and

the

Board

considered

the

extent

to

which

the

Nuveen

funds

will

benefit

from

economies

of

scale

as

their

assets

grow.

In

this

regard,

the

Board

recognized

that

the

management

fee

of

the

Adviser

is

generally

comprised

of

a

fund-level

component

and

a

complex-level

component

each

with

its

own

breakpoint

schedule,

subject

to

certain

exceptions.

The

Board

reviewed

the

fund-level

and

complex-

level

fee

schedules.

The

Board

considered

that

the

fund-level

breakpoint

schedules

are

designed

to

share

economies

of

scale

with

shareholders

if

the

particular

fund

grows,

and

the

complex-level

breakpoint

schedule

is

designed

to

deliver

the

benefits

of

economies

of

scale

to

shareholders

when

the

eligible

assets

in

the

complex

pass

certain

thresholds

even

if

the

assets

of

a

particular

fund

are

unchanged

or

have

declined.

In

addition

to

the

fund-level

and

complex-level

fee

schedules,

the

Independent

Board

Members

considered

the

temporary

and/or

permanent

expense

caps

applicable

to

certain

Nuveen

funds

(including

the

amounts

of

fees

waived

or

amounts

reimbursed

to

the

respective

funds

in

2021

and

2020),

including

the

temporary

expense

caps

applicable

to

the

Funds.

The

Board

recognized

that

such

waivers

and

reimbursements

applicable

to

the

respective

Nuveen

funds

are

another

means

for

potential

economies

of

scale

to

be

shared

with

shareholders

of

such

funds

and

can

provide

a

protection

from

an

increase

in

expenses

if

the

assets

of

the

applicable

funds

decline.

As

noted

above,

the

Independent

Board

Members

also

recognized

the

continued

reinvestment

in

Nuveen’s

business.

Based

on

its

review,

the

Board

concluded

that

the

current

fee

arrangements

together

with

the

reinvestment

in

Nuveen’s

business

appropriately

shared

any

economies

of

scale

with

shareholders.

E.

Indirect

Benefits

The

Independent

Board

Members

received

and

considered

information

regarding

other

benefits

the

respective

Fund

Adviser

or

its

affiliates

may

receive

as

a

result

of

their

relationship

with

the

Nuveen

funds.

The

Independent

Board

Members

recognized

that

an

affiliate

of

the

Adviser

serves

as

principal

underwriter

providing

distribution

and/or

shareholder

services

to

the

open-end

funds.

The

Independent

Board

Members

further

noted

that,

subject

to

certain

exceptions,

certain

classes

of

the

Nuveen

open-end

funds

pay

12b-1

fees

and

while

a

majority

of

such

fees

were

paid

to

third

party

financial

intermediaries,

the

Board

reviewed

the

amount

retained

by

the

Adviser’s

affiliate.

In

addition,

the

Independent

Board

Members

also

noted

that

various

sub-advisers

(including

the

Sub-Adviser)

may

engage

in

soft

dollar

transactions

pursuant

to

which

they

may

receive

the

benefit

of

research

products

and

other

services

provided

by

broker-dealers

executing

portfolio

transactions

on

behalf

of

the

applicable

Nuveen

funds.

The

Board

noted,

however,

that

the

Sub-Adviser

reimburses

the

equity

funds

that

it

sub-advises

(subject

to

certain

exceptions)

for

the

research-related

component

of

soft

dollar

commissions.

In

addition,

the

Board

noted

that

any

benefits

for

a

sub-adviser

when

transacting

in

fixed-income

securities

may

be

more

limited

as

such

securities

generally

trade

on

a

principal

basis

and

therefore

do

not

generate

brokerage

commissions.

Based

on

its

review,

the

Board

concluded

that

any

indirect

benefits

received

by

a

Fund

Adviser

as

a

result

of

its

relationship

with

the

Funds

were

reasonable

and

within

acceptable

parameters.

116

Annual

Investment

Management

Agreement

Approval

Process

(Unaudited)

(continued)

F.

Other

Considerations

The

Board

Members

did

not

identify

any

single

factor

discussed

previously

as

all-important

or

controlling.

The

Board

Members,

including

the

Independent

Board

Members,

concluded

that

the

terms

of

each

Advisory

Agreement

were

reasonable,

that

the

respective

Fund

Adviser’s

fees

were

reasonable

in

light

of

the

services

provided

to

each

Fund

and

that

the

Advisory

Agreements

be

renewed.

117

Directors

and

Officers

(Unaudited)

The

management

of

the

Funds,

including

general

supervision

of

the

duties

performed

for

the

Funds

by

the

Adviser,

is

the

responsibility

of

the

Board

of Directors

of

the

Funds.

The

number

of

Directors of

the

Funds

is

currently

set

at

ten.

None

of

the Directors

who

are

not

“interested”

persons

of

the

Funds

(referred

to

herein

as

“Independent

Directors”)

has

ever

been

a Director

or

employee

of,

or

consultant

to,

Nuveen

or

its

affiliates.

The

names

and

business

addresses

of

the Directors

and

officers

of

the

Funds,

their

principal

occupations

and

other

affiliations

during

the

past

five

years,

the

number

of

portfolios

each

oversees

and

other

directorships

they

hold

are

set

forth

below.

The

Funds’

Statement

of

Additional

Information

(“SAI”)

includes

more

information

about

the

Directors.

To

request

a

free

copy,

call

Nuveen

Investments

at

(800)

257-8787

or

visit

the

Funds’

website

at

www.nuveen.com.

Name,

Year

of

Birth

&

Address

Position(s)

Held

with

the

Funds

Year

First

Elected

or

Appointed

(1)

Principal

Occupation(s)

Including

other

Directorships

During

Past

5

Years

Number

of

Portfolios

in

Fund

Complex

Overseen

By

Director

Independent

Directors:

Terence

J.

Toth

1959

333

W.

Wacker

Drive

Chicago,

IL

60606

Chair

and

Director

2008

Formerly,

a

Co-Founding

Partner,

Promus

Capital

(investment

advisory

firm)

(2008-2017);

formerly,

Director,

Quality

Control

Corporation

(manufacturing)

(2012-2021);

Chair

of

the

Board

of

the

Kehrein

Center

for

the

Arts

(philanthropy)

(since

2021);

member:

Catalyst

Schools

of

Chicago

Board

(since

2008)

and

Mather

Foundation

Board

(philanthropy)

(since

2012),

and

chair

of

its

investment

committee;

formerly,

Member,

Chicago

Fellowship

Board

(philanthropy)

2005-2016);

formerly,

Director,

Fulcrum

IT

Services

LLC

(information

technology

services

firm

to

government

entities)

(2010-2019);

formerly,

Director,

LogicMark

LLC

(health

services)

(2012-2016);

formerly,

Director,

Legal

&

General

Investment

Management

America,

Inc.

(asset

management)

(2008-

2013);

formerly,

CEO

and

President,

Northern

Trust

Global

Investments

(financial

services)

(2004-2007);

Executive

Vice

President,

Quantitative

Management

&

Securities

Lending

(2000-2004);

prior

thereto,

various

positions

with

Northern

Trust

Company

(financial

services)

(since

1994);

formerly,

Member,

Northern

Trust

Mutual

Funds

Board

(2005-2007),

Northern

Trust

Global

Investments

Board

(2004-2007),

Northern

Trust

Japan

Board

(2004-2007),

Northern

Trust

Securities

Inc.

Board

(2003-2007)

and

Northern

Trust

Hong

Kong

Board

(1997-2004).

142

Jack

B.

Evans

1948

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

1999

Chairman

(since

2019),

formerly,

President

(1996-2019),

The

Hall-Perrine

Foundation,

(private

philanthropic

corporation);

Life

Trustee

of

Coe

College;

formerly,

Member

and

President

Pro-Tem

of

the

Board

of

Regents

for

the

State

of

Iowa

University

System

(2007-

2013);

Director

and

Chairman

(2009-2021),

United

Fire

Group,

a

publicly

held

company;

Director,

Public

Member,

American

Board

of

Orthopaedic

Surgery

(2015-2020);

Director

(2000-2004),

Alliant

Energy;

Director

(1996-2015),

The

Gazette

Company

(media

and

publishing);

Director

(1997-

2003),

Federal

Reserve

Bank

of

Chicago;

President

and

Chief

Operating

Officer

(1972-1995),

SCI

Financial

Group,

Inc.,

(regional

financial

services

firm).

142

William

C.

Hunter

1948

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2003

Dean

Emeritus,

formerly,

Dean,

Tippie

College

of

Business,

University

of

Iowa

(2006-2012);

Director

of

Wellmark,

Inc.

(since

2009);

past

Director

(2005-2015),

and

past

President

(2010-

2014)

Beta

Gamma

Sigma,

Inc.,

The

International

Business

Honor

Society;

formerly,

Director

(2004-2018)

of

Xerox

Corporation;

formerly,

Dean

and

Distinguished

Professor

of

Finance,

School

of

Business

at

the

University

of

Connecticut

(2003-2006);

previously,

Senior

Vice

President

and

Director

of

Research

at

the

Federal

Reserve

Bank

of

Chicago

(1995-2003);

formerly,

Director

(1997-2007),

Credit

Research

Center

at

Georgetown

University.

142

118

Directors

and

Officers

(Unaudited)

(continued)

Name,

Year

of

Birth

&

Address

Position(s)

Held

with

the

Funds

Year

First

Elected

or

Appointed

(1)

Principal

Occupation(s)

Including

other

Directorships

During

Past

5

Years

Number

of

Portfolios

in

Fund

Complex

Overseen

By

Director

Amy

B.

R.

Lancellotta

1959

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2021

Formerly,

Managing

Director,

Independent

Directors

Council

(IDC)

(supports

the

fund

independent

director

community

and

is

part

of

the

Investment

Company

Institute

(ICI),

which

represents

regulated

investment

companies)

(2006-2019);

formerly,

various

positions

with

ICI

(1989-2006);

Member

of

the

Board

of

Directors,

Jewish

Coalition

Against

Domestic

Abuse

(JCADA)

(since

2020).

142

Joanne

T.

Medero

1954

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2021

Formerly,

Managing

Director,

Government

Relations

and

Public

Policy

(2009-2020)

and

Senior

Advisor

to

the

Vice

Chairman

(2018-2020),

BlackRock,

Inc.

(global

investment

management

firm);

formerly,

Managing

Director,

Global

Head

of

Government

Relations

and

Public

Policy,

Barclays

Group

(IBIM)

(investment

banking,

investment

management

and

wealth

management

businesses)(2006-2009);

formerly,

Managing

Director,

Global

General

Counsel

and

Corporate

Secretary,

Barclays

Global

Investors

(global

investment

management

firm)

(1996-2006);

formerly,

Partner,

Orrick,

Herrington

&

Sutcliffe

LLP

(law

firm)

(1993-1995);

formerly,

General

Counsel,

Commodity

Futures

Trading

Commission

(government

agency

overseeing

U.S.

derivatives

markets)

(1989-1993);

formerly,

Deputy

Associate

Director/Associate

Director

for

Legal

and

Financial

Affairs,

Office

of

Presidential

Personnel,

The

White

House

(1986-1989);

Member

of

the

Board

of

Directors,

Baltic-American

Freedom

Foundation

(seeks

to

provide

opportunities

for

citizens

of

the

Baltic

states

to

gain

education

and

professional

development

through

exchanges

in

the

U.S.)

(since

2019).

142

Albin

F.

Moschner

1952

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2016

Founder

and

Chief

Executive

Officer,

Northcroft

Partners,

LLC,

(management

consulting)

(since

2012);

formerly,

Chairman

(2019),

and

Director

(2012-2019),

USA

Technologies,

Inc.,

(provider

of

solutions

and

services

to

facilitate

electronic

payment

transactions);

formerly,

Director,

Wintrust

Financial

Corporation

(1996-2016);

previously,

held

positions

at

Leap

Wireless

International,

Inc.

(consumer

wireless

services),

including

Consultant

(2011-2012),

Chief

Operating

Officer

(2008-2011),

and

Chief

Marketing

Officer

(2004-2008);

formerly,

President,

Verizon

Card

Services

division

of

Verizon

Communications,

Inc.

(2000-2003);

formerly,

President,

One

Point

Services

at

One

Point

Communications

(telecommunication

services)

(1999-2000);

formerly,

Vice

Chairman

of

the

Board,

Diba,

Incorporated

(internet

technology

provider)

(1996-1997);

formerly,

various

executive

positions

(1991-1996)

including

Chief

Executive

Officer

(1995-1996)

of

Zenith

Electronics

Corporation

(consumer

electronics).

142

John

K.

Nelson

1962

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2013

Member

of

Board

of

Directors

of

Core12

LLC.

(private

firm

which

develops

branding,

marketing

and

communications

strategies

for

clients)

(since

2008);

served

The

President’s

Council

of

Fordham

University

(2010-2019)

and

previously

a

Director

of

the

Curran

Center

for

Catholic

American

Studies

(2009-2018);

formerly,

senior

external

advisor

to

the

Financial

Services

practice

of

Deloitte

Consulting

LLP.

(2012-2014);

former

Chair

of

the

Board

of

Trustees

of

Marian

University

(2010-2014

as

trustee,

2011-2014

as

Chair);

formerly

Chief

Executive

Officer

of

ABN

AMRO

Bank

N.V.,

North

America,

and

Global

Head

of

the

Financial

Markets

Division

(2007-2008),

with

various

executive

leadership

roles

in

ABN

AMRO

Bank

N.V.

between

1996

and

2007.

142

119

Name,

Year

of

Birth

&

Address

Position(s)

Held

with

the

Funds

Year

First

Elected

or

Appointed

(1)

Principal

Occupation(s)

Including

other

Directorships

During

Past

5

Years

Number

of

Portfolios

in

Fund

Complex

Overseen

By

Director

Judith

M.

Stockdale

1947

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

1997

Board

Member,

Land

Trust

Alliance

(national

public

charity

addressing

natural

land

and

water

conservation

in

the

U.S.)

(since

2013);

formerly,

Board

Member,

U.S.

Endowment

for

Forestry

and

Communities

(national

endowment

addressing

forest

health,

sustainable

forest

production

and

markets,

and

economic

health

of

forest-reliant

communities

in

the

U.S.)

(2013-2019);

formerly,

Executive

Director

(1994-2012),

Gaylord

and

Dorothy

Donnelley

Foundation

(private

foundation

endowed

to

support

both

natural

land

conservation

and

artistic

vitality);

prior

thereto,

Executive

Director,

Great

Lakes

Protection

Fund

(endowment

created

jointly

by

seven

of

the

eight

Great

Lakes

states’

Governors

to

take

a

regional

approach

to

improving

the

health

of

the

Great

Lakes)

(1990-1994).

142

Carole

E.

Stone

1947

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2007

Former

Director,

Chicago

Board

Options

Exchange

(2006-2017),

and

C2

Options

Exchange,

Incorporated

(2009-2017);

formerly,

Director,

Cboe

Global

Markets,

Inc.,

(2010-2020)

(formerly

named

CBOE

Holdings,

Inc.);

formerly,

Commissioner,

New

York

State

Commission

on

Public

Authority

Reform

(2005-2010).

142

Matthew

Thornton

III

1958

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2020

Formerly,

Executive

Vice

President

and

Chief

Operating

Officer

(2018-2019),

FedEx

Freight

Corporation,

a

subsidiary

of

FedEx

Corporation

(FedEx)

(provider

of

transportation,

e-commerce

and

business

services

through

its

portfolio

of

companies);

formerly,

Senior

Vice

President,

U.S.

Operations

(2006-2018),

Federal

Express

Corporation,

a

subsidiary

of

FedEx;

formerly

Member

of

the

Board

of

Directors

(2012-2018),

Safe

Kids

Worldwide®

(a

non-profit

organization

dedicated

to

preventing

childhood

injuries).

Member

of

the

Board

of

Directors

(since

2014),

The

Sherwin-Williams

Company

(develops,

manufactures,

distributes

and

sells

paints,

coatings

and

related

products);

Director

(since

2020),

Crown

Castle

International

(provider

of

communications

infrastructure).

142

Margaret

L.

Wolff

1955

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2016

Formerly,

member

of

the

Board

of

Directors

(2013-2017)

of

Travelers

Insurance

Company

of

Canada

and

The

Dominion

of

Canada

General

Insurance

Company

(each,

a

part

of

Travelers

Canada,

the

Canadian

operation

of

The

Travelers

Companies,

Inc.);

formerly,

Of

Counsel,

Skadden,

Arps,

Slate,

Meagher

&

Flom

LLP

(Mergers

&

Acquisitions

Group)

(legal

services)

(2005-2014);

Member

of

the

Board

of

Trustees

of

New

York-Presbyterian

Hospital

(since

2005);

Member

(since

2004),

formerly,

Chair

(2015-2022)

of

the

Board

of

Trustees

of

The

John

A.

Hartford

Foundation

(a

philanthropy

dedicated

to

improving

the

care

of

older

adults);

formerly,

Member

(2005-2015)

and

Vice

Chair

(2011-2015)

of

the

Board

of

Trustees

of

Mt.

Holyoke

College.

142

Robert

L.

Young

1963

333

W.

Wacker

Drive

Chicago,

IL

60606

Director

2017

Formerly,

Chief

Operating

Officer

and

Director,

J.P.

Morgan

Investment

Management

Inc.

(financial

services)

(2010-2016);

formerly,

President

and

Principal

Executive

Officer

(2013-2016),

and

Senior

Vice

President

and

Chief

Operating

Officer

(2005-2010),

of

J.P.

Morgan

Funds;

formerly,

Director

and

various

officer

positions

for

J.P.

Morgan

Investment

Management

Inc.

(formerly,

JPMorgan

Funds

Management,

Inc.

and

formerly,

One

Group

Administrative

Services)

and

JPMorgan

Distribution

Services,

Inc.

(financial

services)

(formerly,

One

Group

Dealer

Services,

Inc.)

(1999-2017).

142

120

Directors

and

Officers

(Unaudited)

(continued)

Name,

Year

of

Birth

&

Address

Position(s)

Held

with

the

Funds

Year

First

Elected

or

Appointed

(2)

Principal

Occupation(s)

Including

other

Directorships

During

Past

5

Years

Officers

of

the

Funds:

Christopher

E.

Stickrod

1976

333

W.

Wacker

Drive

Chicago,

IL

60606

Chief

Administrative

Officer

2020

Senior

Managing

Director

(since

2017)

and

Head

of

Advisory

Product

(since

2020),

formerly,

Managing

Director

(2016-2017)

and

Senior

Vice

President

(2013-

2016)

of

Nuveen;

Senior

Managing

Director

of

Nuveen

Securities,

LLC

(since

2018)

and

of

Nuveen

Fund

Advisors,

LLC

(since

2019).

Brett

E.

Black

1972

333

West

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Chief

Compliance

Officer

2022

Enterprise

Senior

Compliance

Officer

of

Nuveen

(since

2022);

formerly,

Vice

President

(2014-2022),

Chief

Compliance

Officer

(2017-2022),

Deputy

Chief

Compliance

Officer

(2014-2017)

and

Senior

Compliance

Officer

(2012-2014)

of

BMO

Funds,

Inc.;

formerly

Senior

Compliance

Officer

of

BMO

Asset

Management

Corp.

(2012-2014).

Mark

J.

Czarniecki

1979

901

Marquette

Avenue

Minneapolis,

MN

55402

Vice

President

and

Secretary

2013

Vice

President

and

Assistant

Secretary

of

Nuveen

Securities,

LLC

(since

2016);

Managing

Director

(since

2022),

formerly,

Vice

President

(2017-2022)

and

Assistant

Secretary

(since

2017)

of

Nuveen

Fund

Advisors,

LLC;

Managing

Director

and

Associate

General

Counsel

(since

January

2022),

formerly,

Vice

President

and

Associate

General

Counsel

of

Nuveen

(2013-2021);

Managing

Director

(since

2022),

formerly,

Vice

President

(2018-2022),

Assistant

Secretary

and

Associate

General

Counsel

(since

2018)

of

Nuveen

Asset

Management,

LLC.

Diana

R.

Gonzalez

1978

8500

Andrew

Carnegie

Blvd.

Charlotte,

NC

28262

Vice

President

and

Assistant

Secretary

2017

Vice

President

and

Assistant

Secretary

of

Nuveen

Fund

Advisors,

LLC

(since

2017);

Vice

President,

Associate

General

Counsel

and

Assistant

Secretary

of

Nuveen

Asset

Management,

LLC

(since

2022);

Vice

President

and

Associate

General

Counsel

of

Nuveen

(since

2017);

Associate

General

Counsel

of

Jackson

National

Asset

Management,

LLC

(2012-2017).

Nathaniel

T.

Jones

1979

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Treasurer

2016

Senior

Managing

Director

(since

2021),

formerly,

Managing

Director

(2017-2021),

Senior

Vice

President

(2016-2017),

formerly,

Vice

President

(2011-

2016)

of

Nuveen;

Managing

Director

(since

2015)

of

Nuveen

Fund

Advisors,

LLC;

Chartered

Financial

Analyst.

Tina

M.

Lazar

1961

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

2002

Managing

Director

(since

2017),

formerly,

Senior

Vice

President

(2014-2017)

of

Nuveen

Securities,

LLC.

Brian

J.

Lockhart

1974

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

2019

Managing

Director

(since

2019)

of

Nuveen

Fund

Advisors,

LLC;

Senior

Managing

Director

(since

2021),

formerly,

Managing

Director

(2017-2021),

Vice

President

(2010-2017)

of

Nuveen;

Head

of

Investment

Oversight

(since

2017),

formerly,

Team

Leader

of

Manager

Oversight

(2015-2017);

Chartered

Financial

Analyst

and

Certified

Financial

Risk

Manager.

John

M.

McCann

1975

8500

Andrew

Carnegie

Blvd.

Charlotte,

NC

28262

Vice

President

and

Assistant

Secretary

2022

Managing

Director

and

Assistant

Secretary

of

Nuveen

Fund

Advisors,

LLC

(since

2021);

Managing

Director,

Associate

General

Counsel

and

Assistant

Secretary

of

Nuveen

Asset

Management,

LLC

(since

2021);

Managing

Director

(since

2021)

and

Assistant

Secretary

(since

2016)

of

TIAA

SMA

Strategies

LLC;

Managing

Director

(since

2019,

formerly,

Vice

President

and

Director),

Associate

General

Counsel

and

Assistant

Secretary

of

College

Retirement

Equities

Fund,

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds;

Managing

Director

(since

2018),

formerly,

Vice

President

and

Director,

Associate

General

Counsel

and

Assistant

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America,

Teacher

Advisors

LLC

and

TIAA-CREF

Investment

Management,

LLC;

Vice

President

(since

2017),

Associate

General

Counsel

and

Assistant

Secretary

(since

2011)

of

Nuveen

Alternative

Advisors

LLC;

General

Counsel

and

Assistant

Secretary

of

Covariance

Capital

Management,

Inc.

(2014-2017).

121

Name,

Year

of

Birth

&

Address

Position(s)

Held

with

the

Funds

Year

First

Elected

or

Appointed

(2)

Principal

Occupation(s)

Including

other

Directorships

During

Past

5

Years

Kevin

J.

McCarthy

1966

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Assistant

Secretary

2007

Senior

Managing

Director

(since

2017)

and

Secretary

and

General

Counsel

(since

2016)

of

Nuveen

Investments,

Inc.,

formerly,

Executive

Vice

President

(2016-2017)

and

Managing

Director

and

Assistant

Secretary

(2008-2016);

Senior

Managing

Director

(since

2017)

and

Assistant

Secretary

(since

2008)

of

Nuveen

Securities,

LLC,

formerly

Executive

Vice

President

(2016-2017)

and

Managing

Director

(2008-2016);

Senior

Managing

Director

(since

2017)

and

Secretary

(since

2016)

of

Nuveen

Fund

Advisors,

LLC,

formerly,

Co-General

Counsel

(2011-2020),

Executive

Vice

President

(2016-2017),

Managing

Director

(2008-2016)

and

Assistant

Secretary

(2007-2016);

Senior

Managing

Director

(since

2017),

Secretary

(since

2016)

of

Nuveen

Asset

Management,

LLC,

formerly,

Associate

General

Counsel

(2011-2020),

Executive

Vice

President

(2016-2017)

and

Managing

Director

and

Assistant

Secretary

(2011-2016);

formerly

Vice

President

(2007-2021)

and

Secretary

(2016-2021),

of

NWQ

Investment

Management

Company,

LLC

and

Santa

Barbara

Asset

Management,

LLC;

Vice

President

and

Secretary

of

Winslow

Capital

Management,

LLC

(since

2010).

Senior

Managing

Director

(since

2017)

and

Secretary

(since

2016)

of

Nuveen

Alternative

Investments,

LLC.

Jon

Scott

Meissner

1973

8500

Andrew

Carnegie

Blvd.

Charlotte,

NC

28262

Vice

President

and

Assistant

Secretary

2019

Managing

Director

of

Mutual

Fund

Tax

and

Financial

Reporting

groups

at

Nuveen

(since

2017);

Managing

Director

of

Nuveen

Fund

Advisors,

LLC

(since

2019);

Senior

Director

of

Teachers

Advisors,

LLC

and

TIAA-CREF

Investment

Management,

LLC

(since

2016);

Senior

Director

(since

2015)

Mutual

Fund

Taxation

to

the

TIAA-CREF

Funds,

the

TIAA-CREF

Life

Funds,

the

TIAA

Separate

Account

VA-1

and

the

CREF

Accounts;

has

held

various

positions

with

TIAA

since

2004.

Deann

D.

Morgan

1969

730

Third

Avenue

New

York,

NY

10017

Vice

President

2020

President,

Nuveen

Fund

Advisors,

LLC

(since

2020);

Executive

Vice

President,

Global

Head

of

Product

at

Nuveen

(since

2019);

Co-Chief

Executive

Officer

of

Nuveen

Securities,

LLC

(since

2020);

Managing

Member

of

MDR

Collaboratory

LLC

(since

2018);

Managing

Director,

Head

of

Wealth

Management

Product

Structuring

&

COO

Multi

Asset

Investing.

The

Blackstone

Group

(2013-2017).

William

A.

Siffermann

1975

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

2017

Managing

Director

(since

2017),

formerly

Senior

Vice

President

(2016-2017)

and

Vice

President

(2011-2016)

of

Nuveen.

Trey

S.

Stenersen

1965

8500

Andrew

Carnegie

Blvd.

Charlotte,

NC

28262

Vice

President

2022

Senior

Managing

Director

of

Teacher

Advisors

LLC

and

TIAA-CREF

Investment

Management,

LLC

(since

2018);

Senior

Managing

Director

(since

2019)

and

Chief

Risk

Officer

(since

2022),

formerly

Head

of

Investment

Risk

Management

(2017-

2022)

of

Nuveen;

Senior

Managing

Director

(since

2018)

of

Nuveen

Alternative

Advisors

LLC.

E.

Scott

Wickerham

1973

730

Third

Avenue

New

York,

NY

10017

Vice

President

and

Controller

2019

Senior

Managing

Director,

Head

of

Public

Investment

Finance

at

Nuveen

(since

2019),

formerly,

Managing

Director;

Senior

Managing

Director

(since

2019)

of

Nuveen

Fund

Advisors,

LLC;

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

(since

2017)

of

the

TIAA-CREF

Funds,

the

TIAA-CREF

Life

Funds,

the

TIAA

Separate

Account

VA-1

and

Principal

Financial

Officer,

Principal

Accounting

Officer

(since

2020)

and

Treasurer

(since

2017)

of

the

CREF

Accounts;

formerly,

Senior

Director,

TIAA-CREF

Fund

Administration

(2014-2015);

has

held

various

positions

with

TIAA

since

2006.

Mark

L.

Winget

1968

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Assistant

Secretary

2008

Vice

President

and

Assistant

Secretary

of

Nuveen

Securities,

LLC

(since

2008),

and

Nuveen

Fund

Advisors,

LLC

(since

2019);

Vice

President,

Associate

General

Counsel

and

Assistant

Secretary

of

Nuveen

Asset

Management,

LLC

(since

2020);

Vice

President

(since

2010)

and

Associate

General

Counsel

(since

2019),

formerly,

Assistant

General

Counsel

(2008-2016)

of

Nuveen.

Gifford

R.

Zimmerman

1956

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Assistant

Secretary

1988

Managing

Director

and

Assistant

Secretary

of

Nuveen

Securities,

LLC

(since

2022);

Managing

Director,

Assistant

Secretary

and

General

Counsel

(since

2022),

formerly,

Co-General

Counsel

(2011-2020)

of

Nuveen

Fund

Advisors,

LLC;

formerly,

Managing

Director

(2004-2020)

and

Assistant

Secretary

(1994-2020)

of

Nuveen

Investments,

Inc.;

Managing

Director,

Assistant

Secretary

and

Associate

General

Counsel

(since

2022)

of

Nuveen

Asset

Management,

LLC;

Vice

President

and

Assistant

Secretary

(since

2022)

of

Winslow

Capital

Management,

LLC;

formerly,

Vice

President

and

Assistant

Secretary

of

NWQ

Investment

Management

Company,

LLC

(2002-2020)

and

Santa

Barbara

Asset

Management,

LLC

(2006-

2020)

Chartered

Financial

Analyst.

122

Directors

and

Officers

(Unaudited)

(continued)

Name,

Year

of

Birth

&

Address

Position(s)

Held

with

the

Funds

Year

First

Elected

or

Appointed

(2)

Principal

Occupation(s)

Including

other

Directorships

During

Past

5

Years

Rachael

Zufall

1973

8500

Andrew

Carnegie

Blvd.

Charlotte,

NC

28262

Vice

President

and

Assistant

Secretary

2022

Managing

Director

(since

2017),

Associate

General

Counsel

and

Assistant

Secretary

(since

2014)

of

the

CREF

Accounts,

TIAA

Separate

Account

VA-1,

TIAA-

CREF

Funds

and

TIAA-CREF

Life

Funds;

Managing

Director

(since

2017),

Associate

General

Counsel

and

Assistant

Secretary

(since

2011)

of

Teacher

Advisors,

LLC

and

TIAA-CREF

Investment

Management,

LLC;

Managing

Director

of

Nuveen,

LLC

and

of

TIAA

(since

2017).

(1)

Directors

serve

an

indefinite

term

until

his/her

successor

is

elected

or

appointed.

The

year

first

elected

or

appointed

represents

the

year

in

which

the

director

was

first

elected

or

appointed

to

any

fund

in

the

Nuveen

Fund

Complex.

(2)

Officers

serve

one

year

terms

through

August

of

each

year.

The

year

first

elected

or

appointed

represents

the

year

in

which

the

officer

was

first

elected

or

appointed

to

any

fund

in

the

Nuveen

Fund

Complex.

Nuveen

Securities,

LLC,

member

FINRA

and

SIPC

333

West

Wacker

Drive

Chicago,

IL

60606

www.nuveen.com

MAN-FCGO-1022D

2615428-INV-Y-12/23

Nuveen:

Serving

Investors

for

Generations

Since

1898,

financial

advisors

and

their

clients

have

relied

on

Nuveen

to

provide

dependable

investment

solutions

through

continued

adherence

to

proven,

long-term

investing

principles.

Today,

we

offer

a

range

of

high

quality

solutions

designed

to

be

integral

components

of

a

well-diversified

core

portfolio.

Focused

on

meeting

investor

needs.

Nuveen

is

the

investment

manager

of

TIAA.

We

have

grown

into

one

of

the

world’s

premier

global

asset

managers,

with

specialist

knowledge

across

all

major

asset

classes

and

particular

strength

in

solutions

that

provide

income

for

investors

and

that

draw

on

our

expertise

in

alternatives

and

responsible

investing.

Nuveen

is

driven

not

only

by

the

independent

investment

processes

across

the

firm,

but

also

the

insights,

risk

management,

analytics

and

other

tools

and

resources

that

a

truly

world-class

platform

provides.

As

a

global

asset

manager,

our

mission

is

to

work

in

partnership

with

our

clients

to

create

solutions

which

help

them

secure

their

financial

future.

Find

out

how

we

can

help

you.

To

learn

more

about

how

the

products

and

services

of

Nuveen

may

be

able

to

help

you

meet

your

financial

goals,

talk

to

your

financial

advisor,

or

call

us

at

(800)

257-8787.

Please

read

the

information

provided

carefully

before

you

invest.

Investors

should

consider

the

investment

objective

and

policies,

risk

considerations,

charges

and

expenses

of

any

investment

carefully.

Where

applicable,

be

sure

to

obtain

a

prospectus,

which

contains

this

and

other

relevant

information.

To

obtain

a

prospectus,

please

contact

your

securities

representative

or

Nuveen,

333

W.

Wacker

Dr.,

Chicago,

IL

60606.

Please

read

the

prospectus

carefully

before

you

invest

or

send

money.

Learn

more

about

Nuveen

Funds

at:

www.nuveen.com/mutual-fun

ds

ITEM 2. CODE OF ETHICS.

As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/fund-governance. (To view the code, click on Code of Conduct.)

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant’s audit committee financial experts are Carole E. Stone, Jack B. Evans, Albin F. Moschner, John K. Nelson and Robert L. Young, who are “independent” for purposes of Item 3 of Form N-CSR.

Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State’s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State’s bond-related disclosure documents and certifying that they fairly presented the State’s financial position; reviewing audits of various State and local agencies and programs; and coordinating the State’s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Ms. Stone formerly served on the Board of Directors of CBOE Global Markets, Inc. (formerly, CBOE Holdings, Inc.), the Chicago Board Options Exchange, and the C2 Options Exchange. Ms. Stone’s position on the boards of these entities and as a member of both CBOE Holdings’ Audit Committee and its Finance Committee involved, among other things, the oversight of audits, audit plans and preparation of financial statements.

Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser (“SCI”). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the “CFO”) and actively supervised the CFO’s preparation of financial statements and other filings with various regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI’s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.

Mr. Moschner is a consultant in the wireless industry and, in July 2012, founded Northcroft Partners, LLC, a management consulting firm that provides operational, management and governance solutions. Prior to founding Northcroft Partners, LLC, Mr. Moschner held various positions at Leap Wireless International, Inc., a provider of wireless services, where he was as a consultant from February 2011 to July 2012, Chief Operating Officer from July 2008 to February 2011, and Chief Marketing Officer from August 2004 to June 2008. Before he joined Leap Wireless International, Inc., Mr. Moschner was President of the Verizon Card Services division of Verizon Communications, Inc. from 2000 to 2003, and President of One Point Services at One Point Communications from 1999 to 2000. Mr. Moschner also served at Zenith Electronics Corporation as Director, President and Chief Executive Officer from 1995 to 1996, and as Director, President and Chief Operating Officer from 1994 to 1995.

Mr. Nelson is on the Board of Directors of Core12, LLC. (since 2008), a private firm which develops branding, marketing, and communications strategies for clients. Mr. Nelson has extensive experience in global banking and markets, having served in several senior executive positions with ABN AMRO Holdings N.V. and its affiliated entities and predecessors, including LaSalle Bank Corporation from 1996 to 2008, ultimately serving as Chief Executive Officer of ABN AMRO N.V. North America. During his tenure at the bank, he also served as Global Head of its Financial Markets Division, which encompassed the bank’s Currency, Commodity, Fixed Income, Emerging Markets, and Derivatives businesses. He was a member of the Foreign Exchange Committee of the Federal Reserve Bank of the United States and during his tenure with ABN AMRO served as the bank’s representative on various committees of The Bank of Canada, European Central Bank, and The Bank of England. Mr. Nelson previously served as a senior, external advisor to the financial services practice of Deloitte Consulting LLP. (2012-2014).

Mr. Young has more than 30 years of experience in the investment management industry. From 1997 to 2017, he held various positions with J.P. Morgan Investment Management Inc. (“J.P. Morgan Investment”) and its affiliates (collectively, “J.P. Morgan”). Most recently, he served as Chief Operating Officer and Director of J.P. Morgan Investment (from 2010 to 2016) and as President and Principal Executive Officer of the J.P. Morgan Funds (from 2013 to 2016). As Chief Operating Officer of J.P. Morgan Investment, Mr. Young led service, administration and business platform support activities for J.P. Morgan’s domestic retail mutual fund and institutional commingled and separate account businesses, and co-led these activities for J.P. Morgan’s global retail and institutional investment management businesses. As President of the J.P. Morgan Funds, Mr. Young interacted with various service providers to these funds, facilitated the relationship between such funds and their boards, and was directly involved in establishing board agendas, addressing regulatory matters, and establishing policies and procedures. Before joining J.P. Morgan, Mr. Young, a former Certified Public Accountant (CPA), was a Senior Manager (Audit) with Deloitte & Touche LLP (formerly, Touche Ross LLP), where he was employed from 1985 to 1996. During his tenure there, he actively participated in creating, and ultimately led, the firm’s midwestern mutual fund practice.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The following tables show the amount of fees that PricewaterhouseCoopers the Funds’ auditor, billed to the Funds’ during the Funds’ last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PricewaterhouseCoopers provided to the Funds, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the “pre-approval exception”). The preapproval exception for services provided directly to the Funds waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Funds during the fiscal year in which the services are provided; (B) the Funds did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the audit is completed.

Fiscal Year Ended October 31, 2022	Audit Fees Billed to Funds 1		Audit-Related Fees Billed to Funds 2		Tax Fees Billed to Funds 3		All Other Fees Billed to Funds 4
Fund Name
Nuveen Dividend Value Fund		16,375		3,000		5,200		0
Nuveen Mid Cap Growth Opportunities Fund		16,375		0		2,000		0
Nuveen Small Cap Value Fund		16,375		0		0		0
Nuveen Mid Cap Value Fund		16,375		0		1,500		0
Nuveen Small Cap Growth Opportunities Fund		16,375		0		2,000		0
Nuveen Small Cap Select Fund		16,375		0		2,000		0
Nuveen Large Cap Select Fund		16,375		0		2,000		0
Total	$	114,625	$	3,000	$	14,700	$	0

¹  “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

²  “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage.

³  “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant.

⁴  “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage.

	Percentage Approved Pursuant to Pre-approval Exception
	Audit Fees Billed to Funds			Audit-Related Fees Billed to Funds			Tax Fees  Billed to Funds			All Other Fees Billed to Funds
Fund Name
Nuveen Dividend Value Fund		0	%		0	%		0	%		0	%
Nuveen Mid Cap Growth Opportunities Fund		0	%		0	%		0	%		0	%
Nuveen Small Cap Value Fund		0	%		0	%		0	%		0	%
Nuveen Mid Cap Value Fund		0	%		0	%		0	%		0	%
Nuveen Small Cap Growth Opportunities Fund		0	%		0	%		0	%		0	%
Nuveen Small Cap Select Fund		0	%		0	%		0	%		0	%
Nuveen Large Cap Select Fund		0	%		0	%		0	%		0	%
October 31, 2021	Audit Fees Billed to Funds 1			Audit-Related Fees Billed to Funds 2			Tax Fees Billed to Funds 3			All Other Fees Billed to Funds 4
Fund Name
Nuveen Dividend Value Fund		27,984			9,500			0			0
Nuveen Mid Cap Growth Opportunities Fund		16,500			5,000			2,500			0
Nuveen Small Cap Value Fund		17,690			5,000			0			0
Nuveen Mid Cap Value Fund		16,170			5,000			0			0
Nuveen Small Cap Growth Opportunities Fund		15,930			5,000			2,500			0
Nuveen Small Cap Select Fund		15,445			5,000			2,500			0
Nuveen Large Cap Select Fund		15,190			5,000			0			0
Total	$	124,909		$	39,500		$	7,500		$	0

¹  “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

²  “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage.

³  “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant.

⁴  “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage.

	Percentage Approved Pursuant to Pre-approval Exception
	Audit Fees Billed to Funds			Audit-Related Fees Billed to Funds			Tax Fees Billed to Funds			All Other Fees Billed to Funds
Fund Name
Nuveen Dividend Value Fund		0	%		0	%		0	%		0	%
Nuveen Mid Cap Growth Opportunities Fund		0	%		0	%		0	%		0	%
Nuveen Small Cap Value Fund		0	%		0	%		0	%		0	%
Nuveen Mid Cap Value Fund		0	%		0	%		0	%		0	%
Nuveen Small Cap Growth Opportunities Fund		0	%		0	%		0	%		0	%
Nuveen Small Cap Select Fund		0	%		0	%		0	%		0	%
Nuveen Large Cap Select Fund		0	%		0	%		0	%		0	%

Fiscal Year Ended October 31, 2022	Audit-Related Fees Billed to Adviser and Affiliated  Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
		0	%		0	%		0	%
Fiscal Year Ended October 31, 2021	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Affiliated Fund Service Providers			Affiliated Fund Service Providers			and Affiliated Fund Service Providers
		0	%		0	%		0	%

Fiscal Year Ended October 31, 2022	Total Non-Audit Fees Billed to Trust		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust)		Total Non-Audit Fees billed to Adviser and Affiliated Fund  Service Providers (all other engagements)
Fund Name
Nuveen Dividend Value Fund		5,200		0		0
Nuveen Mid Cap Growth Opportunities Fund		2,000		0		0
Nuveen Small Cap Value Fund		0		0		0
Nuveen Mid Cap Value Fund		1,500		0		0
Nuveen Small Cap Growth Opportunities Fund		2,000		0		0
Nuveen Small Cap Select Fund		2,000		0		0
Nuveen Large Cap Select Fund		2,000		0		0
Total	$	14,700	$	0	$	0

“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.

Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

Fiscal Year Ended October 31, 2021	Total Non-Audit Fees Billed to Trust		Total Non-Audit Fees billed to Adviser and related directly  to the operations and financial reporting of the Trust)		Affiliated Fund Service Providers (all other engagements)
Fund Name
Nuveen Dividend Value Fund		0		0		0
Nuveen Mid Cap Growth Opportunities Fund		2,500		0		0
Nuveen Small Cap Value Fund		0		0		0
Nuveen Mid Cap Value Fund		0		0		0
Nuveen Small Cap Growth Opportunities Fund		2,500		0		0
Nuveen Small Cap Select Fund		2,500		0		0
Nuveen Large Cap Select Fund		0		0		0
Total	$	7,500	$	0	$	0

“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.

Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Funds by the Funds’ independent accountant and (ii) all audit and non-audit services to be performed by the Funds’ independent accountant for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Funds. Regarding tax and research projects conducted by the independent accountant for the Funds and Affiliated Fund Service Providers (with respect to operations and financial reports of the Trust), such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee Chair for her verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable to this registrant.

ITEM 6. SCHEDULE OF INVESTMENTS.

a) See Portfolio of Investments in Item 1.

b) Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this registrant.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this registrant.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable to this registrant.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees implemented after the registrant last provided disclosure in response to this Item.

ITEM 11. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. EXHIBITS.

File the exhibits listed below as part of this Form.

(a	)(1)	Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable because the code is posted on registrant’s website at www.nuveen.com/fund-governance and there were no amendments during the period covered by this report. (To view the code, click on Code of Conduct.)
(a	)(2)	A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule  30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See EX-99.CERT attached hereto.
(a	)(3)	Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant.
(a	)(4)	Change in the registrant’s independent public accountant. Not applicable.
(b	)	If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an Exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registration specifically incorporates it by reference: See EX-99.906 CERT attached hereto.

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: January 9, 2023

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: January 9, 2023

By (Signature and Title)	/s/ E. Scott Wickerham
	E. Scott Wickerham
	Vice President and Controller
	(principal financial officer)

Date: January 9, 2023