UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-05309
Nuveen Investment Funds, Inc.
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Mark J. Czarniecki
Vice President and Secretary
333 West Wacker Drive,
Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: October 31
Date of reporting period: April 30, 2023
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
April
30,
2023
Semi-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
2
Table
of
Contents
Chair’s
Letter
to
Shareholders
3
Important
Notices
4
Risk
Considerations
5
About
the
Funds’
Benchmarks
6
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
8
Expense
Examples
23
Statement
of
Assets
and
Liabilities
53
Statement
of
Operations
57
Statement
of
Changes
in
Net
Assets
59
Financial
Highlights
63
Notes
to
Financial
Statements
77
Additional
Fund
Information
92
Glossary
of
Terms
Used
in
this
Report
93
Liquidity
Risk
Management
Program
94
Chair’s
Letter
to
Shareholders
3
Dear
Shareholders,
The
significant
measures
taken
by
the
U.S.
Federal
Reserve
(Fed)
and
other
global
central
banks
over
the
past
year
to
contain
inflation
have
begun
to
take
effect.
From
March
2022
to
May
2023,
the
Fed
raised
the
target
fed
funds
rate
by
5.00%
to
a
range
of
5.00%
to
5.25%,
marking
the
fastest
interest
rate
hiking
cycle
in
its
history.
Across
most
of
the
world,
inflation
rates
have
fallen
from
their
post-pandemic
highs
but
currently
remain
well
above
the
levels
that
central
banks
consider
supportive
of
their
economies’
long-term
growth.
At
the
same
time,
the
U.S.
and
other
large
economies
have
remained
surprisingly
resilient,
even
as
financial
conditions
have
tightened.
Despite
contracting
in
the
first
half
of
2022,
U.S.
gross
domestic
product
grew
2.1%
in
the
year
overall
compared
to
2021
and
expanded
at
a
more
moderate
pace
of
1.3%
in
the
first
quarter
of
2023.
A
relatively
strong
jobs
market
has
helped
support
consumer
sentiment
and
spending
despite
historically
high
inflation.
Markets
are
concerned
that
these
conditions
could
keep
upward
pressure
on
prices
and
wages,
although
the
recent
collapse
of
three
regional
U.S.
banks
(Silicon
Valley
Bank,
Signature
Bank
and
First
Republic
Bank)
and
major
European
bank
Credit
Suisse
is
likely
to
add
further
downward
pressure
to
the
economy
as
the
banking
system
slows
lending
in
response.
Fed
officials
are
closely
monitoring
inflation
data
and
other
economic
measures
to
modify
their
rate
setting
activity
based
upon
these
factors
on
a
meeting-by-meeting
basis,
including
pausing
rate
adjustments
at
the
most
recent
meeting
in
June
2023
in
order
to
assess
the
effects
of
monetary
policy
so
far
on
the
economy.
While
uncertainty
has
increased
given
the
unpredictable
outcome
of
tighter
credit
conditions
on
the
economy,
the
Fed
remains
committed
to
acting
until
it
sees
sustainable
progress
toward
its
inflation
goals.
In
the
meantime,
markets
are
likely
to
continue
reacting
in
the
short
term
to
news
about
inflation
data,
economic
indicators
and
central
bank
policy.
The
debt
ceiling
debate
in
Congress
was
also
looming
over
the
markets
until
the
government
passed
an
increase
to
the
debt
limit
in
early
June
2023
and
averted
a
default
scenario.
We
encourage
investors
to
keep
a
long-term
perspective
amid
the
short-term
noise.
Your
financial
professional
can
help
you
review
how
well
your
portfolio
is
aligned
with
your
time
horizon,
risk
tolerance
and
investment
goals.
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
June
21,
2023
4
Important
Notices
For
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
Nuveen
Small
Cap
Value
Fund
Portfolio
Manager
Commentaries
in
Semiannual
Reports
The
Funds
include
portfolio
manager
commentary
in
their
annual
shareholder
reports.
For
the
Funds’
most
recent
annual
portfolio
manager
discussion,
please
refer
to
the
Portfolio
Managers’
Comments
section
of
the
Funds’
October
31,
2022
annual
shareholder
report.
For
current
information
on
your
Funds’
investment
objectives,
portfolio
management
team
and
average
annual
total
returns
please
refer
to
the
Funds’
website
at
www.nuveen.com.
For
changes
that
occurred
to
your
Funds
both
during
and
subsequent
to
this
reporting
period,
please
refer
to
the
Notes
to
Financial
Statements
section
of
this
report.
For
average
annual
total
returns
as
of
the
end
of
this
reporting
period,
please
refer
to
the
Performance
Overview
and
Holding
Summaries
section
within
this
report.
Investment
Policy
Change
for
Nuveen
Dividend
Value
Fund
Effective
February
28,
2023,
the
Nuveen
Dividend
Value
Fund
adopted
a
non-fundamental
investment
policy
under
Rule
35d-1
of
the
Investment
Company
Act
of
1940
(a
“Name
Policy”),
requiring
it
to
invest
at
least
80%
of
its
assets
in
dividend-paying
equity
securities.
Prior
to
the
adoption
of
the
Name
Policy,
the
Fund
was
required
to
invest
of
its
assets
in
equity
securities
that
provided
current
income
at
the
time
of
purchase.
Portfolio
Manager
Update
for
Nuveen
Mid
Cap
Growth
Opportunities
Fund
Effective
March
21,
2023,
Casey
R.
Weston,
CFA,
was
named
a
portfolio
manager
of
Nuveen
Mid
Cap
Growth
Opportunities
Fund.
Gregory
J.
Ryan
and
Bihag
N.
Patel
continue
to
serve
as
portfolio
managers
for
the
Fund.
Portfolio
Manager
Update
for
Nuveen
Mid
Cap
Value
Fund
Effective
March
21,
2023,
David
F.
Johnson
was
named
a
portfolio
manager
of
Nuveen
Mid
Cap
Value
Fund.
Karen
L.
Bowie
will
continue
to
serve
as
portfolio
manager
for
the
Fund.
Portfolio
Manager
Update
for
Nuveen
Small
Cap
Growth
Opportunities
Fund
Effective
March
21,
2023,
Gregory
J.
Ryan
has
been
named
a
portfolio
manager
of
Nuveen
Small
Cap
Growth
Opportunities
Fund.
Jon
A.
Loth
will
continue
to
serve
as
portfolio
manager
for
the
Fund.
Risk
Considerations
5
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.
6
About
the
Funds’
Benchmarks
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.
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.
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.
7
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.
8
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
April
30,
2023
9
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
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
at
NAV
12/18/92
0.67%
0.28%
5.37%
7.79%
1.00%
0.96%
Class
A
at
maximum
Offering
Price
12/18/92
(5.11)%
(5.48)%
4.13%
7.15%
—
—
Russell
1000®
Value
Index
—
4.54%
1.21%
7.75%
9.13%
—
—
Lipper
Equity
Income
Funds
Classification
Average
—
4.18%
1.07%
7.98%
8.73%
—
—
Class
C
at
NAV
2/01/99
0.35%
(0.40)%
4.59%
7.15%
1.75%
1.71%
Class
C
at
maximum
Offering
Price
2/01/99
(0.57)%
(0.40)%
4.59%
7.15%
—
—
Class
I
8/02/94
0.81%
0.57%
5.64%
8.06%
0.75%
0.71%
Class
R6
2/28/13
0.87%
0.63%
5.77%
8.18%
0.65%
0.61%
10
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
2023
Fund
Allocation
(%
of
net
assets)
Common
Stocks
99
.0
%
Repurchase
Agreements
0
.7
%
Other
Assets
&
Liabilities,
Net
0.3%
Net
Assets
100
%
Portfolio
Composition
1
(%
of
net
assets)
Capital
Markets
7.8%
Oil,
Gas
&
Consumable
Fuels
7.6%
Health
Care
Providers
&
Services
6.4%
Electric
Utilities
5.6%
Software
5.6%
Pharmaceuticals
5.1%
Insurance
4.1%
Machinery
4.0%
Financial
Services
4.0%
Health
Care
Equipment
&
Supplies
4.0%
Banks
3.9%
Electrical
Equipment
3.8%
Interactive
Media
&
Services
3.7%
Specialized
REITs
3.0%
Biotechnology
3.0%
Semiconductors
&
Semiconductor
Equipment
2.9%
Diversified
Telecommunication
Services
2.7%
Tobacco
2.3%
Chemicals
2.2%
Consumer
Staples
Distribution
&
Retail
2.0%
Other
15.3%
Repurchase
Agreements
0.7%
Other
Assets
&
Liabilities,
Net
0.3%
Net
Assets
100%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
Meta
Platforms
Inc
3.7%
AT&T
Inc
2.7%
NextEra
Energy
Inc
2.3%
Philip
Morris
International
Inc
2.3%
ConocoPhillips
2.2%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Nuveen
Large
Cap
Select
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
April
30,
2023
11
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.
Total
Returns
as
of
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
at
NAV
1/31/03
7.05%
1.22%
8.36%
11.10%
1.32%
1.05%
Class
A
at
maximum
Offering
Price
1/31/03
0.89%
(4.61)%
7.08%
10.45%
—
—
S&P
500®
Index
—
8.63%
2.66%
11.45%
12.20%
—
—
Lipper
Large-Cap
Core
Funds
Classification
Average
—
8.32%
2.24%
10.42%
11.15%
—
—
Class
C
at
NAV
1/31/03
6.66%
0.50%
7.55%
10.43%
2.07%
1.80%
Class
C
at
maximum
Offering
Price
1/31/03
5.66%
0.50%
7.55%
10.43%
—
—
Class
I
1/31/03
7.15%
1.46%
8.62%
11.38%
1.07%
0.80%
12
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
2023
Fund
Allocation
(%
of
net
assets)
Common
Stocks
99
.3
%
Repurchase
Agreements
0
.3
%
Other
Assets
&
Liabilities,
Net
0.4%
Net
Assets
100
%
Portfolio
Composition
1
(%
of
net
assets)
Software
13.2%
Financial
Services
8.5%
Semiconductors
&
Semiconductor
Equipment
6.3%
Health
Care
Providers
&
Services
6.0%
Interactive
Media
&
Services
5.2%
Capital
Markets
5.1%
Oil,
Gas
&
Consumable
Fuels
4.8%
Biotechnology
3.8%
Technology
Hardware,
Storage
&
Peripherals
3.3%
Electrical
Equipment
3.3%
Health
Care
Equipment
&
Supplies
3.2%
Machinery
3.0%
Pharmaceuticals
2.9%
Electric
Utilities
2.8%
Broadline
Retail
2.8%
Hotels,
Restaurants
&
Leisure
2.5%
Consumer
Staples
Distribution
&
Retail
2.2%
Tobacco
1.9%
Chemicals
1.9%
Diversified
Telecommunication
Services
1.8%
Other
14.8%
Repurchase
Agreements
0.3%
Other
Assets
&
Liabilities,
Net
0.4%
Net
Assets
100%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
Microsoft
Corp
7.8%
Mastercard
Inc
3.2%
Meta
Platforms
Inc
3.2%
Amazon.com
Inc
2.8%
Fiserv
Inc
2.5%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Nuveen
Mid
Cap
Growth
Opportunities
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
April
30,
2023
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
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
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
at
NAV
1/09/95
5.92%
(1.34)%
5.89%
8.69%
1.23%
1.17%
Class
A
at
maximum
Offering
Price
1/09/95
(0.19)%
(7.00)%
4.64%
8.05%
—
—
Russell
Midcap®
Growth
Index
—
6.60%
1.60%
8.96%
10.84%
—
—
Lipper
Mid-Cap
Growth
Funds
Classification
Average
—
5.03%
(2.55)%
7.76%
10.03%
—
—
Class
I
12/28/89
6.08%
(1.07)%
6.15%
8.96%
0.98%
0.92%
Class
R6
2/28/13
6.16%
(0.95)%
6.27%
9.10%
0.89%
0.83%
14
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
2023
Fund
Allocation
(%
of
net
assets)
Common
Stocks
98
.6
%
Investments
Purchased
with
Collateral
from
Securities
Lending
2
.0
%
Repurchase
Agreements
1
.7
%
Other
Assets
&
Liabilities,
Net
(2.3)%
Net
Assets
100
%
Portfolio
Composition
1
(%
of
net
assets)
Software
11.9%
Health
Care
Equipment
&
Supplies
10.6%
Specialty
Retail
6.3%
Semiconductors
&
Semiconductor
Equipment
5.2%
Oil,
Gas
&
Consumable
Fuels
5.0%
Hotels,
Restaurants
&
Leisure
5.0%
Biotechnology
4.8%
IT
Services
3.7%
Aerospace
&
Defense
3.6%
Commercial
Services
&
Supplies
2.9%
Construction
&
Engineering
2.8%
Entertainment
2.7%
Building
Products
2.5%
Professional
Services
2.5%
Textiles,
Apparel
&
Luxury
Goods
2.4%
Life
Sciences
Tools
&
Services
2.2%
Health
Care
Technology
2.2%
Capital
Markets
2.0%
Consumer
Finance
1.9%
Other
18.4%
Investments
Purchased
with
Collateral
from
Securities
Lending
2.0%
Repurchase
Agreements
1.7%
Other
Assets
&
Liabilities,
Net
(2.3)%
Net
Assets
100%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
Synopsys
Inc
3.2%
Dexcom
Inc
2.9%
Insulet
Corp
2.6%
Verisk
Analytics
Inc
2.5%
Veeva
Systems
Inc,
Class
A
2.1%
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
April
30,
2023
15
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
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
at
NAV
12/22/87
0.98%
(3.12)%
6.90%
9.45%
1.21%
1.16%
Class
A
at
maximum
Offering
Price
12/22/87
(4.83)%
(8.69)%
5.64%
8.80%
—
—
Russell
Midcap®
Value
Index
—
2.26%
(3.47)%
6.43%
8.68%
—
—
Lipper
Mid-Cap
Value
Funds
Classification
Average
—
2.40%
(1.24)%
6.19%
7.92%
—
—
Class
C
at
NAV
2/01/99
0.63%
(3.83)%
6.10%
8.79%
1.96%
1.91%
Class
C
at
maximum
Offering
Price
2/01/99
(0.33)%
(3.83)%
6.10%
8.79%
—
—
Class
I
2/04/94
1.11%
(2.88)%
7.17%
9.72%
0.96%
0.91%
Total
Returns
as
of
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios***
Inception
Date
6-Month
1-Year
Since
Inception
Gross
Net
Class
R6
6/20/18
1.18%
(2.75)%
6.45%
0.84%
0.79%
16
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
2023
Fund
Allocation
(%
of
net
assets)
Common
Stocks
98
.6
%
Investments
Purchased
with
Collateral
from
Securities
Lending
0
.6
%
Repurchase
Agreements
1
.3
%
Other
Assets
&
Liabilities,
Net
(0.5)%
Net
Assets
100
%
Portfolio
Composition
1
(%
of
net
assets)
Machinery
6.4%
Oil,
Gas
&
Consumable
Fuels
6.1%
Equity
Real
Estate
Investment
Trusts
(REITs)
5.4%
Insurance
5.2%
Electric
Utilities
4.9%
Building
Products
4.2%
Multi-Utilities
4.1%
Capital
Markets
3.6%
Software
3.3%
Residential
REITs
3.0%
Chemicals
2.9%
Financial
Services
2.8%
Consumer
Staples
Distribution
&
Retail
2.6%
Banks
2.6%
Biotechnology
2.5%
Hotels,
Restaurants
&
Leisure
2.5%
Health
Care
Providers
&
Services
2.5%
Health
Care
Equipment
&
Supplies
2.4%
Metals
&
Mining
2.3%
Electronic
Equipment,
Instruments
&
Components
2.3%
Electrical
Equipment
2.1%
Trading
Companies
&
Distributors
1.8%
Containers
&
Packaging
1.8%
Specialty
Retail
1.7%
Ground
Transportation
1.6%
Other
18.0%
Investments
Purchased
with
Collateral
from
Securities
Lending
0.6%
Repurchase
Agreements
1.3%
Other
Assets
&
Liabilities,
Net
(0.5)%
Net
Assets
100%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
Hubbell
Inc
2.1%
Arch
Capital
Group
Ltd
2.1%
CenterPoint
Energy
Inc
2.1%
Ameren
Corp
2.0%
Diamondback
Energy
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
Growth
Opportunities
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
April
30,
2023
17
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
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
at
NAV
8/01/95
(0.60)%
(2.83)%
7.56%
9.91%
1.35%
1.22%
Class
A
at
maximum
Offering
Price
8/01/95
(6.30)%
(8.41)%
6.29%
9.27%
—
—
Russell
2000®
Growth
Index
—
(0.29)%
0.72%
4.00%
8.44%
—
—
Lipper
Small-Cap
Growth
Funds
Classification
Average
—
0.88%
(2.43)%
6.50%
9.28%
—
—
Class
I
8/01/95
(0.46)%
(2.60)%
7.82%
10.18%
1.10%
0.97%
Total
Returns
as
of
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios***
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Gross
Net
Class
R6
6/30/16
(0.41)%
(2.46)%
8.04%
11.32%
0.95%
0.82%
18
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
2023
Fund
Allocation
(%
of
net
assets)
Common
Stocks
98
.4
%
Repurchase
Agreements
1
.8
%
Other
Assets
&
Liabilities,
Net
(0.2)%
Net
Assets
100
%
Portfolio
Composition
1
(%
of
net
assets)
Software
10.8%
Health
Care
Equipment
&
Supplies
8.6%
Oil,
Gas
&
Consumable
Fuels
7.9%
Semiconductors
&
Semiconductor
Equipment
7.4%
Health
Care
Providers
&
Services
7.2%
Hotels,
Restaurants
&
Leisure
5.3%
Biotechnology
4.6%
Machinery
4.2%
Commercial
Services
&
Supplies
3.9%
Equity
Real
Estate
Investment
Trusts
(REITs)
2.7%
Insurance
2.4%
Electrical
Equipment
2.4%
Pharmaceuticals
2.0%
Personal
Care
Products
1.9%
Health
Care
Technology
1.9%
Broadline
Retail
1.7%
Ground
Transportation
1.7%
Building
Products
1.6%
Capital
Markets
1.6%
Other
18.6%
Repurchase
Agreements
1.8%
Other
Assets
&
Liabilities,
Net
(0.2)%
Net
Assets
100%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
Casella
Waste
Systems
Inc,
Class
A
2.1%
Lantheus
Holdings
Inc
2.1%
Matador
Resources
Co
2.0%
Inspire
Medical
Systems
Inc
2.0%
Silicon
Laboratories
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
April
30,
2023
19
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
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
at
NAV
5/06/92
(1.46)%
(1.58)%
5.93%
8.65%
1.40%
1.24%
Class
A
at
maximum
Offering
Price
5/06/92
(7.14)%
(7.25)%
4.69%
8.02%
—
—
Russell
2000®
Index
—
(3.45)%
(3.65)%
4.15%
7.88%
—
—
Lipper
Small-Cap
Core
Funds
Classification
Average
—
(0.68)%
(2.18)%
4.99%
7.80%
—
—
Class
I
5/06/92
(1.31)%
(1.31)%
6.19%
8.92%
1.15%
0.99%
Total
Returns
as
of
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios***
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Gross
Net
Class
R6
2/28/18
(1.26)%
(1.26)%
6.32%
6.49%
1.02%
0.86%
20
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
2023
Fund
Allocation
(%
of
net
assets)
Common
Stocks
98.1%
Exchange-Traded
Funds
1.4%
Investments
Purchased
with
Collateral
from
Securities
Lending
2.4%
Repurchase
Agreements
0.9%
Other
Assets
&
Liabilities,
Net
(2.8)%
Net
Assets
100%
Portfolio
Composition
1
(%
of
net
assets)
Health
Care
Providers
&
Services
8.6%
Oil,
Gas
&
Consumable
Fuels
7.5%
Banks
5.9%
Software
5.8%
Construction
&
Engineering
4.6%
Semiconductors
&
Semiconductor
Equipment
4.4%
Machinery
4.2%
Health
Care
Equipment
&
Supplies
4.1%
Equity
Real
Estate
Investment
Trusts
(REITs)
3.8%
Hotels,
Restaurants
&
Leisure
3.1%
Beverages
3.0%
Biotechnology
2.9%
Capital
Markets
2.9%
Professional
Services
2.4%
Personal
Care
Products
2.3%
Pharmaceuticals
1.8%
Multi-Utilities
1.8%
Broadline
Retail
1.7%
Marine
Transportation
1.6%
Building
Products
1.6%
Specialty
Retail
1.6%
Containers
&
Packaging
1.6%
Insurance
1.5%
Aerospace
&
Defense
1.5%
Other
19.3%
Investments
Purchased
with
Collateral
from
Securities
Lending
2.4%
Repurchase
Agreements
0.9%
Other
Assets
&
Liabilities,
Net
(2.8)%
Net
Assets
100%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
BellRing
Brands
Inc
2.3%
Northern
Oil
and
Gas
Inc
2.1%
Matador
Resources
Co
1.8%
Tenet
Healthcare
Corp
1.8%
Black
Hills
Corp
1.8%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Nuveen
Small
Cap
Value
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
April
30,
2023
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
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
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
at
NAV
8/01/94
(6.72)%
(6.65)%
0.88%
6.50%
1.25%
1.20%
Class
A
at
maximum
Offering
Price
8/01/94
(12.09)%
(12.03)%
(0.31)%
5.87%
—
—
Russell
2000®
Value
Index
—
(6.72)%
(7.99)%
3.66%
6.96%
—
—
Lipper
Small-Cap
Value
Funds
Classification
Average
—
(2.63)%
(3.33)%
5.05%
7.11%
—
—
Class
C
at
NAV
2/01/99
(7.07)%
(7.33)%
0.12%
5.87%
2.00%
1.95%
Class
C
at
maximum
Offering
Price
2/01/99
(8.00)%
(7.33)%
0.12%
5.87%
—
—
Class
I
8/01/94
(6.63)%
(6.42)%
1.13%
6.77%
1.00%
0.95%
Total
Returns
as
of
April
30,
2023**
Cumulative
Average
Annual
Expense
Ratios***
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Gross
Net
Class
R6
6/30/16
(6.55)%
(6.24)%
1.31%
4.62%
0.86%
0.81%
22
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
2023
Fund
Allocation
(%
of
net
assets)
Common
Stocks
99.2%
Repurchase
Agreements
1.2%
Other
Assets
&
Liabilities,
Net
(0.4)%
Net
Assets
100%
Portfolio
Composition
1
(%
of
net
assets)
Banks
12.4%
Oil,
Gas
&
Consumable
Fuels
5.9%
Equity
Real
Estate
Investment
Trusts
(REITs)
5.8%
Chemicals
3.9%
Health
Care
Providers
&
Services
3.3%
Gas
Utilities
3.2%
Biotechnology
2.8%
Software
2.7%
Capital
Markets
2.6%
Hotels,
Restaurants
&
Leisure
2.5%
Leisure
Products
2.4%
Insurance
2.4%
Household
Durables
2.2%
Commercial
Services
&
Supplies
2.0%
Multi-Utilities
1.9%
Machinery
1.9%
Financial
Services
1.9%
Construction
&
Engineering
1.8%
Electrical
Equipment
1.8%
Pharmaceuticals
1.7%
Electronic
Equipment,
Instruments
&
Components
1.7%
Trading
Companies
&
Distributors
1.6%
Specialty
Retail
1.6%
Electric
Utilities
1.6%
Consumer
Finance
1.6%
Mortgage
Real
Estate
Investment
Trusts
(REITs)
1.6%
Communications
Equipment
1.5%
Real
Estate
Management
&
Development
1.5%
Ground
Transportation
1.5%
Other
19.9%
Repurchase
Agreements
1.2%
Other
Assets
&
Liabilities,
Net
(0.4)%
Net
Assets
100%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
Radian
Group
Inc
1.9%
Hillenbrand
Inc
1.9%
Black
Hills
Corp
1.9%
nVent
Electric
PLC
1.8%
EMCOR
Group
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
23
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
April
30,
2023.
The
beginning
of
the
period
is
November
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
$
1,006.74
$
1,003.55
$
1,008.69
$
1,008.10
Expenses
Incurred
During
the
Period
$
4.78
$
8.49
$
3.04
$
3.54
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
$
1,020.03
$
1,016.31
$
1,021.77
$
1,021.27
Expenses
Incurred
During
the
Period
$
4.81
$
8.55
$
3.06
$
3.56
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
181
/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
$
1,070.47
$
1,066.56
$
1,071.51
Expenses
Incurred
During
the
Period
$
5.39
$
9.22
$
4.11
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,019.59
$
1,015.87
$
1,020.83
Expenses
Incurred
During
the
Period
$
5.26
$
9.00
$
4.01
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
181
/365
(to
reflect
the
one-half
year
period).
Expense
Examples
(continued)
24
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
$
1,059.19
$
1,061.60
$
1,060.84
Expenses
Incurred
During
the
Period
$
5.97
$
4.14
$
4.65
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,018.99
$
1,020.78
$
1,020.28
Expenses
Incurred
During
the
Period
$
5.86
$
4.06
$
4.56
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
1.17%,
0.82%
and
0.91%
for
Classes
A,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/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
$
1,009.79
$
1,006.26
$
1,011.79
$
1,011.06
Expenses
Incurred
During
the
Period
$
5.78
$
9.50
$
3.84
$
4.49
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
$
1,019.04
$
1,015.32
$
1,020.98
$
1,020.33
Expenses
Incurred
During
the
Period
$
5.81
$
9.54
$
3.86
$
4.51
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
0.15%,
1.91%,
0.77%
and
0.91%
for
Classes
A,
C,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/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
$
994.01
$
995.88
$
995.44
Expenses
Incurred
During
the
Period
$
6.08
$
4.11
$
4.85
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,018.70
$
1,020.68
$
1,019.93
Expenses
Incurred
During
the
Period
$
6.16
$
4.16
$
4.91
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
1.23%,
0.82%
and
0.98%
for
Classes
A,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/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
$
985.44
$
987.36
$
986.90
Expenses
Incurred
During
the
Period
$
6.10
$
4.29
$
4.88
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,018.65
$
1,020.48
$
1,019.89
Expenses
Incurred
During
the
Period
$
6.21
$
4.36
$
4.96
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
1.24%,
0.87%
and
0.99%
for
Classes
A,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
25
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
$
932.75
$
929.27
$
934.53
$
933.74
Expenses
Incurred
During
the
Period
$
5.80
$
9.38
$
3.84
$
4.60
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
$
1,018.79
$
1,015.08
$
1,020.83
$
1,020.03
Expenses
Incurred
During
the
Period
$
6.06
$
9.79
$
4.01
$
4.81
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
1.21%,
1.96%,
0.80%
and
0.96%
for
Classes
A,
C,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
26
Nuveen
Large
Cap
Select
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Shares
Description
(1)
Value
LONG-TERM
INVESTMENTS
-
99.3%
X
33,869,296
COMMON
STOCKS
-
99.3%
X
33,869,296
Aerospace
&
Defense
-
1.0%
2,031
Curtiss-Wright
Corp
$
344,925
Total
Aerospace
&
Defense
344,925
Banks
-
1.4%
12,267
Wells
Fargo
&
Co
487,613
Total
Banks
487,613
Beverages
-
1.0%
5,302
Coca-Cola
Co/The
340,123
Total
Beverages
340,123
Biotechnology
-
3.8%
1,201
Biogen
Inc
(2)
365,380
6,811
Gilead
Sciences
Inc
559,932
1,576
United
Therapeutics
Corp
(2)
362,685
Total
Biotechnology
1,287,997
Broadline
Retail
-
2.8%
9,149
Amazon.com
Inc
(2)
964,762
Total
Broadline
Retail
964,762
Building
Products
-
0.9%
4,957
Johnson
Controls
International
plc
296,627
Total
Building
Products
296,627
Capital
Markets
-
5.1%
1,437
Ameriprise
Financial
Inc
438,458
10,092
Charles
Schwab
Corp
527,206
1,605
LPL
Financial
Holdings
Inc
335,188
1,190
S&P
Global
Inc
431,470
Total
Capital
Markets
1,732,322
Chemicals
-
1.9%
6,778
Corteva
Inc
414,272
3,210
DuPont
de
Nemours
Inc
223,801
Total
Chemicals
638,073
Communications
Equipment
-
0.9%
6,544
Ciena
Corp
(2)
301,286
Total
Communications
Equipment
301,286
Consumer
Staples
Distribution
&
Retail
-
2.2%
1,776
Dollar
General
Corp
393,313
5,594
Performance
Food
Group
Co
(2)
350,688
Total
Consumer
Staples
Distribution
&
Retail
744,001
Containers
&
Packaging
-
0.8%
5,441
Sealed
Air
Corp
261,114
Total
Containers
&
Packaging
261,114
27
Shares
Description
(1)
Value
Diversified
Telecommunication
Services
-
1.8%
35,463
AT&T
Inc
$
626,631
Total
Diversified
Telecommunication
Services
626,631
Electric
Utilities
-
2.8%
3,428
American
Electric
Power
Co
Inc
316,816
8,504
NextEra
Energy
Inc
651,661
Total
Electric
Utilities
968,477
Electrical
Equipment
-
3.3%
2,798
AMETEK
Inc
385,928
2,210
Eaton
Corp
PLC
369,335
8,628
nVent
Electric
PLC
361,772
Total
Electrical
Equipment
1,117,035
Entertainment
-
1.3%
4,300
Walt
Disney
Co/The
(2)
440,750
Total
Entertainment
440,750
Financial
Services
-
8.5%
8,591
Fidelity
National
Information
Services
Inc
504,464
6,881
Fiserv
Inc
(2)
840,308
2,035
FleetCor
Technologies
Inc
(2)
435,327
2,910
Mastercard
Inc
1,105,887
Total
Financial
Services
2,885,986
Food
Products
-
1.5%
13,219
Kraft
Heinz
Co/The
519,110
Total
Food
Products
519,110
Health
Care
Equipment
&
Supplies
-
3.2%
5,651
Abbott
Laboratories
624,266
10,130
Baxter
International
Inc
482,998
Total
Health
Care
Equipment
&
Supplies
1,107,264
Health
Care
Providers
&
Services
-
6.0%
6,042
Cardinal
Health
Inc
496,048
6,441
Centene
Corp
(2)
443,978
1,107
Elevance
Health
Inc
518,796
1,114
Humana
Inc
590,966
Total
Health
Care
Providers
&
Services
2,049,788
Hotels,
Restaurants
&
Leisure
-
2.5%
1,057
Domino's
Pizza
Inc
335,566
2,578
Expedia
Group
Inc
(2)
242,229
6,310
MGM
Resorts
International
283,445
Total
Hotels,
Restaurants
&
Leisure
861,240
Household
Durables
-
0.9%
23,871
Newell
Brands
Inc
290,033
Total
Household
Durables
290,033
Industrial
REITs
-
1.6%
4,248
Prologis
Inc
532,062
Total
Industrial
REITs
532,062
Nuveen
Large
Cap
Select
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
28
Shares
Description
(1)
Value
Insurance
-
1.7%
6,866
American
International
Group
Inc
$
364,173
993
Willis
Towers
Watson
PLC
229,979
Total
Insurance
594,152
Interactive
Media
&
Services
-
5.2%
6,150
Alphabet
Inc,
Class
C
(2)
665,553
4,600
Meta
Platforms
Inc
(2)
1,105,472
Total
Interactive
Media
&
Services
1,771,025
Machinery
-
3.0%
1,788
Dover
Corp
261,334
1,341
Parker-Hannifin
Corp
435,664
3,410
Westinghouse
Air
Brake
Technologies
Corp
333,055
Total
Machinery
1,030,053
Oil,
Gas
&
Consumable
Fuels
-
4.8%
6,230
ConocoPhillips
641,005
1,156
EOG
Resources
Inc
138,107
2,841
Pioneer
Natural
Resources
Co
618,060
2,124
Valero
Energy
Corp
243,559
Total
Oil,
Gas
&
Consumable
Fuels
1,640,731
Pharmaceuticals
-
2.9%
6,391
AstraZeneca
PLC,
Sponsored
ADR
467,949
9,656
Sanofi,
ADR
518,044
Total
Pharmaceuticals
985,993
Semiconductors
&
Semiconductor
Equipment
-
6.3%
2,322
Advanced
Micro
Devices
Inc
(2)
207,517
999
Broadcom
Inc
625,874
2,982
NVIDIA
Corp
827,475
2,625
QUALCOMM
Inc
306,600
2,040
Taiwan
Semiconductor
Manufacturing
Co
Ltd,
Sponsored
ADR
171,972
Total
Semiconductors
&
Semiconductor
Equipment
2,139,438
Software
-
13.2%
2,476
Crowdstrike
Holdings
Inc,
Class
A
(2)
297,244
8,695
Microsoft
Corp
2,671,625
5,526
Oracle
Corp
523,423
3,061
Salesforce
Inc
(2)
607,210
911
ServiceNow
Inc
(2)
418,531
Total
Software
4,518,033
Specialized
REITs
-
1.1%
1,405
SBA
Communications
Corp
366,551
Total
Specialized
REITs
366,551
Technology
Hardware,
Storage
&
Peripherals
-
3.3%
4,867
Apple
Inc
825,833
21,408
Hewlett
Packard
Enterprise
Co
306,562
Total
Technology
Hardware,
Storage
&
Peripherals
1,132,395
Tobacco
-
1.9%
6,455
Philip
Morris
International
Inc
645,306
Total
Tobacco
645,306
29
Shares
Description
(1)
Value
Trading
Companies
&
Distributors
-
0.7%
1,725
WESCO
International
Inc
$
248,400
Total
Trading
Companies
&
Distributors
248,400
Total
Long-Term
Investments
(cost
$29,259,294)
33,869,296
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
0.3%
X
113,653
REPURCHASE
AGREEMENTS
-
0.3%
X
113,653
$
114
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
4/28/23,
repurchase
price
$113,667,
collateralized
$126,800,
U.S.
Treasury
Note,
0.75%,
due
5/31/26,
value
$115,951
1.440%
5/01/23
$
113,653
Total
Repurchase
Agreements
(cost
$113,653)
113,653
Total
Short-Term
Investments
(cost
$113,653)
113,653
Total
Investments
(cost
$29,372,947
)
-
99.6%
33,982,949
Other
Assets
&
Liabilities,
Net
- 0.4%
123,249
Net
Assets
-
100%
$
34,106,198
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.
ADR
American
Depositary
Receipt
S&P
Standard
&
Poor's
See
Notes
to
Financial
Statements
30
Nuveen
Mid
Cap
Growth
Opportunities
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Shares
Description
(1)
Value
LONG-TERM
INVESTMENTS
-
98.6%
X
188,878,715
COMMON
STOCKS
-
98.6%
X
188,878,715
Aerospace
&
Defense
-
3.6%
12,808
Axon
Enterprise
Inc
(2)
$
2,698,774
15,319
HEICO
Corp,
Class
A
2,056,269
169,883
Kratos
Defense
&
Security
Solutions
Inc
(2)
2,191,491
Total
Aerospace
&
Defense
6,946,534
Beverages
-
1.5%
51,665
Monster
Beverage
Corp
(2)
2,893,240
Total
Beverages
2,893,240
Biotechnology
-
4.8%
9,549
Alnylam
Pharmaceuticals
Inc
(2)
1,902,161
4,135
Argenx
SE,
ADR
(2)
1,603,884
8,728
BioMarin
Pharmaceutical
Inc
(2)
838,237
14,666
Sarepta
Therapeutics
Inc
(2)
1,800,545
13,529
United
Therapeutics
Corp
(2)
3,113,428
Total
Biotechnology
9,258,255
Building
Products
-
2.5%
110,960
AZEK
Co
Inc/The
(2)
3,011,454
42,862
Carrier
Global
Corp
1,792,489
Total
Building
Products
4,803,943
Capital
Markets
-
2.0%
7,893
MSCI
Inc
3,807,978
Total
Capital
Markets
3,807,978
Chemicals
-
1.9%
41,497
Avient
Corp
1,598,049
95,075
Livent
Corp
(2)
2,077,389
Total
Chemicals
3,675,438
Commercial
Services
&
Supplies
-
2.9%
82,026
GFL
Environmental
Inc
2,977,544
18,890
Tetra
Tech
Inc
2,613,809
Total
Commercial
Services
&
Supplies
5,591,353
Communications
Equipment
-
1.1%
45,198
Ciena
Corp
(2)
2,080,916
Total
Communications
Equipment
2,080,916
Construction
&
Engineering
-
2.8%
27,881
MasTec
Inc
(2)
2,476,112
17,327
Quanta
Services
Inc
2,939,352
Total
Construction
&
Engineering
5,415,464
Construction
Materials
-
1.5%
15,895
Vulcan
Materials
Co
2,783,533
Total
Construction
Materials
2,783,533
Consumer
Finance
-
1.9%
36,111
FirstCash
Holdings
Inc
3,720,516
Total
Consumer
Finance
3,720,516
31
Shares
Description
(1)
Value
Consumer
Staples
Distribution
&
Retail
-
1.1%
27,203
BJ's
Wholesale
Club
Holdings
Inc
(2)
$
2,077,493
Total
Consumer
Staples
Distribution
&
Retail
2,077,493
Electronic
Equipment,
Instruments
&
Components
-
1.1%
45,277
Cognex
Corp
2,159,260
Total
Electronic
Equipment,
Instruments
&
Components
2,159,260
Entertainment
-
2.7%
25,348
Take-Two
Interactive
Software
Inc
(2)
3,150,503
19,132
World
Wrestling
Entertainment
Inc,
Class
A
2,050,376
Total
Entertainment
5,200,879
Equity
Real
Estate
Investment
Trusts
(REITs)
-
1.1%
14,436
Extra
Space
Storage
Inc
2,194,850
Total
Equity
Real
Estate
Investment
Trusts
(REITs)
2,194,850
Food
Products
-
1.7%
12,190
Hershey
Co/The
3,328,601
Total
Food
Products
3,328,601
Ground
Transportation
-
1.5%
49,852
Knight-Swift
Transportation
Holdings
Inc
2,807,665
Total
Ground
Transportation
2,807,665
Health
Care
Equipment
&
Supplies
-
10.6%
6,440
Align
Technology
Inc
(2)
2,094,932
45,693
Dexcom
Inc
(2)
5,544,389
15,522
Insulet
Corp
(2)
4,936,617
37,536
Lantheus
Holdings
Inc
(2)
3,207,451
7,208
Novocure
Ltd
(2)
475,007
13,963
Penumbra
Inc
(2)
3,967,168
Total
Health
Care
Equipment
&
Supplies
20,225,564
Health
Care
Technology
-
2.2%
22,958
Veeva
Systems
Inc,
Class
A
(2)
4,111,319
Total
Health
Care
Technology
4,111,319
Hotels,
Restaurants
&
Leisure
-
5.0%
47,526
Caesars
Entertainment
Inc
(2)
2,152,453
9,599
Darden
Restaurants
Inc
1,458,376
8,858
Domino's
Pizza
Inc
2,812,149
37,846
Planet
Fitness
Inc
(2)
3,146,516
Total
Hotels,
Restaurants
&
Leisure
9,569,494
Insurance
-
1.3%
6,501
Everest
Re
Group
Ltd
2,457,378
Total
Insurance
2,457,378
IT
Services
-
3.7%
11,489
Gartner
Inc
(2)
3,474,963
9,338
MongoDB
Inc
(2)
2,240,747
24,553
Twilio
Inc,
Class
A
(2)
1,291,733
Total
IT
Services
7,007,443
Leisure
Products
-
1.2%
107,402
Topgolf
Callaway
Brands
Corp
(2)
2,381,102
Total
Leisure
Products
2,381,102
Nuveen
Mid
Cap
Growth
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
32
Shares
Description
(1)
Value
Life
Sciences
Tools
&
Services
-
2.2%
33,320
Bio-Techne
Corp
$
2,661,602
10,478
Repligen
Corp
(2)
1,588,779
Total
Life
Sciences
Tools
&
Services
4,250,381
Machinery
-
1.5%
43,737
Donaldson
Co
Inc
2,779,486
Total
Machinery
2,779,486
Media
-
1.5%
44,536
Trade
Desk
Inc/The,
Class
A
(2)
2,865,446
Total
Media
2,865,446
Oil,
Gas
&
Consumable
Fuels
-
5.0%
18,562
Cheniere
Energy
Inc
2,839,986
26,291
Diamondback
Energy
Inc
3,738,580
289,282
Permian
Resources
Corp
3,022,997
Total
Oil,
Gas
&
Consumable
Fuels
9,601,563
Pharmaceuticals
-
0.4%
28,695
Amylyx
Pharmaceuticals
Inc
(2)
814,938
Total
Pharmaceuticals
814,938
Professional
Services
-
2.5%
24,262
Verisk
Analytics
Inc
4,709,497
Total
Professional
Services
4,709,497
Semiconductors
&
Semiconductor
Equipment
-
5.2%
25,980
GLOBALFOUNDRIES
Inc
(2),(3)
1,527,624
24,589
Impinj
Inc
(2)
2,173,913
41,168
Microchip
Technology
Inc
3,004,852
7,214
Monolithic
Power
Systems
Inc
3,332,652
Total
Semiconductors
&
Semiconductor
Equipment
10,039,041
Software
-
11.9%
28,135
Crowdstrike
Holdings
Inc,
Class
A
(2)
3,377,607
15,420
CyberArk
Software
Ltd
(2)
1,921,332
42,129
Five9
Inc
(2)
2,731,644
10,511
Palo
Alto
Networks
Inc
(2)
1,917,837
38,758
Sprout
Social
Inc,
Class
A
(2)
1,909,219
16,567
Synopsys
Inc
(2)
6,151,657
8,297
Tyler
Technologies
Inc
(2)
3,144,812
17,515
Zscaler
Inc
(2)
1,578,102
Total
Software
22,732,210
Specialty
Retail
-
6.3%
66,640
Chewy
Inc,
Class
A
(2),(3)
2,066,506
9,635
Five
Below
Inc
(2)
1,901,564
3,963
O'Reilly
Automotive
Inc
(2)
3,635,300
20,085
Ross
Stores
Inc
2,143,672
4,081
Ulta
Beauty
Inc
(2)
2,250,386
Total
Specialty
Retail
11,997,428
33
Shares
Description
(1)
Value
Textiles,
Apparel
&
Luxury
Goods
-
2.4%
4,806
Deckers
Outdoor
Corp
(2)
$
2,303,708
6,019
Lululemon
Athletica
Inc
(2)
2,286,799
Total
Textiles,
Apparel
&
Luxury
Goods
4,590,507
Total
Long-Term
Investments
(cost
$173,366,585)
188,878,715
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
2.0%
X
3,801,223
MONEY
MARKET
FUNDS
-
2.0%
X
3,801,223
3,801,223
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(4)
4.840%(5)
$
3,801,223
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$3,801,223)
3,801,223
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
1.7%
3,264,270
REPURCHASE
AGREEMENTS
-
1.7%
3,264,270
$
3,264
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
4/28/23,
repurchase
price
$3,264,662,
collateralized
$3,641,100,
U.S.
Treasury
Note,
0.75%,
due
5/31/26,
value
$3,329,557
1.440%
5/01/23
$
3,264,270
Total
Repurchase
Agreements
(cost
$3,264,270)
3,264,270
Total
Short-Term
Investments
(cost
$3,264,270)
3,264,270
Total
Investments
(cost
$180,432,078
)
-
102.3%
195,944,208
Other
Assets
&
Liabilities,
Net
- (2.3)%
(4,349,371)
Net
Assets
-
100%
$
191,594,837
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
$3,573,447.
(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.
ADR
American
Depositary
Receipt
See
Notes
to
Financial
Statements
34
Nuveen
Mid
Cap
Value
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Shares
Description
(1)
Value
LONG-TERM
INVESTMENTS
-
98.7%
X
449,441,790
COMMON
STOCKS
-
98.7%
X
449,441,790
Aerospace
&
Defense
-
1.0%
22,631
L3Harris
Technologies
Inc
$
4,416,440
Total
Aerospace
&
Defense
4,416,440
Banks
-
2.6%
61,569
East
West
Bancorp
Inc
3,182,502
175,319
Fifth
Third
Bancorp
4,593,358
107,653
Hancock
Whitney
Corp
3,931,487
Total
Banks
11,707,347
Biotechnology
-
2.5%
17,268
Biogen
Inc
(2)
5,253,444
26,972
United
Therapeutics
Corp
(2)
6,207,066
Total
Biotechnology
11,460,510
Building
Products
-
4.2%
20,806
Carlisle
Cos
Inc
4,490,975
168,418
Carrier
Global
Corp
7,043,241
69,093
Owens
Corning
7,379,823
Total
Building
Products
18,914,039
Capital
Markets
-
3.6%
27,422
Ameriprise
Financial
Inc
8,367,000
88,928
Raymond
James
Financial
Inc
8,050,652
Total
Capital
Markets
16,417,652
Chemicals
-
2.9%
101,885
DuPont
de
Nemours
Inc
7,103,422
54,010
Westlake
Corp
6,145,258
Total
Chemicals
13,248,680
Communications
Equipment
-
1.6%
158,229
Ciena
Corp
(2)
7,284,863
Total
Communications
Equipment
7,284,863
Construction
Materials
-
0.8%
130,216
Summit
Materials
Inc,
Class
A
(2)
3,569,221
Total
Construction
Materials
3,569,221
Consumer
Finance
-
1.1%
133,488
OneMain
Holdings
Inc
5,121,935
Total
Consumer
Finance
5,121,935
Consumer
Staples
Distribution
&
Retail
-
2.6%
18,492
Dollar
General
Corp
4,095,238
200,885
US
Foods
Holding
Corp
(2)
7,713,984
Total
Consumer
Staples
Distribution
&
Retail
11,809,222
Containers
&
Packaging
-
1.8%
333,074
Graphic
Packaging
Holding
Co
8,213,605
Total
Containers
&
Packaging
8,213,605
35
Shares
Description
(1)
Value
Electric
Utilities
-
4.9%
127,374
Alliant
Energy
Corp
$
7,023,403
71,948
American
Electric
Power
Co
Inc
6,649,434
120,985
Xcel
Energy
Inc
8,458,061
Total
Electric
Utilities
22,130,898
Electrical
Equipment
-
2.1%
36,083
Hubbell
Inc
9,717,874
Total
Electrical
Equipment
9,717,874
Electronic
Equipment,
Instruments
&
Components
-
2.3%
104,939
Avnet
Inc
4,329,783
66,869
TD
SYNNEX
Corp
5,954,016
Total
Electronic
Equipment,
Instruments
&
Components
10,283,799
Energy
Equipment
&
Services
-
1.0%
151,657
Baker
Hughes
Co
4,434,451
Total
Energy
Equipment
&
Services
4,434,451
Entertainment
-
1.3%
48,635
Take-Two
Interactive
Software
Inc
(2)
6,044,844
Total
Entertainment
6,044,844
Equity
Real
Estate
Investment
Trusts
(REITs)
-
5.4%
165,044
EPR
Properties
6,925,246
145,363
National
Storage
Affiliates
Trust
5,603,744
103,926
Regency
Centers
Corp
6,384,174
169,693
STAG
Industrial
Inc
5,747,502
Total
Equity
Real
Estate
Investment
Trusts
(REITs)
24,660,666
Financial
Services
-
2.8%
205,265
Radian
Group
Inc
4,981,782
101,299
Voya
Financial
Inc
7,747,347
Total
Financial
Services
12,729,129
Ground
Transportation
-
1.6%
67,825
TFI
International
Inc
7,311,535
Total
Ground
Transportation
7,311,535
Health
Care
Equipment
&
Supplies
-
2.4%
138,504
Envista
Holdings
Corp
(2)
5,331,019
41,806
Zimmer
Biomet
Holdings
Inc
5,787,623
Total
Health
Care
Equipment
&
Supplies
11,118,642
Health
Care
Providers
&
Services
-
2.5%
59,290
Centene
Corp
(2)
4,086,859
225,665
Option
Care
Health
Inc
(2)
7,255,130
Total
Health
Care
Providers
&
Services
11,341,989
Hotel
&
Resort
REITs
-
1.2%
360,097
Apple
Hospitality
REIT
Inc
5,361,844
Total
Hotel
&
Resort
REITs
5,361,844
Hotels,
Restaurants
&
Leisure
-
2.5%
40,037
Darden
Restaurants
Inc
6,082,821
140,344
Travel
+
Leisure
Co
5,370,965
Total
Hotels,
Restaurants
&
Leisure
11,453,786
Nuveen
Mid
Cap
Value
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
36
Shares
Description
(1)
Value
Household
Durables
-
1.3%
52,524
DR
Horton
Inc
$
5,768,186
Total
Household
Durables
5,768,186
Insurance
-
5.2%
128,614
Arch
Capital
Group
Ltd
(2)
9,655,053
18,245
Everest
Re
Group
Ltd
6,896,610
50,583
Reinsurance
Group
of
America
Inc
7,198,973
Total
Insurance
23,750,636
IT
Services
-
1.3%
26,608
VeriSign
Inc
(2)
5,901,654
Total
IT
Services
5,901,654
Leisure
Products
-
1.6%
84,022
Brunswick
Corp/DE
7,124,225
Total
Leisure
Products
7,124,225
Machinery
-
6.4%
48,668
AGCO
Corp
6,031,912
64,386
Crane
Co
(2)
4,640,299
64,386
Crane
NXT
Co
3,049,321
95,955
PACCAR
Inc
7,166,879
25,627
Parker-Hannifin
Corp
8,325,700
Total
Machinery
29,214,111
Metals
&
Mining
-
2.3%
138,079
Alcoa
Corp
5,128,254
22,063
Reliance
Steel
&
Aluminum
Co
5,467,211
Total
Metals
&
Mining
10,595,465
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
0.9%
227,930
Starwood
Property
Trust
Inc
4,077,668
Total
Mortgage
Real
Estate
Investment
Trusts
(REITs)
4,077,668
Multi-Utilities
-
4.1%
103,437
Ameren
Corp
9,202,790
314,663
CenterPoint
Energy
Inc
9,587,782
Total
Multi-Utilities
18,790,572
Oil,
Gas
&
Consumable
Fuels
-
6.1%
61,760
Diamondback
Energy
Inc
8,782,272
176,334
EQT
Corp
6,143,476
570,786
Permian
Resources
Corp
5,964,714
220,489
Williams
Cos
Inc/The
6,671,997
Total
Oil,
Gas
&
Consumable
Fuels
27,562,459
Pharmaceuticals
-
1.3%
43,526
Jazz
Pharmaceuticals
PLC
(2)
6,114,097
Total
Pharmaceuticals
6,114,097
Residential
REITs
-
3.0%
39,130
AvalonBay
Communities
Inc
7,057,878
197,342
Invitation
Homes
Inc
6,585,303
Total
Residential
REITs
13,643,181
37
Shares
Description
(1)
Value
Semiconductors
&
Semiconductor
Equipment
-
1.5%
108,434
Marvell
Technology
Inc
$
4,280,974
55,714
Wolfspeed
Inc
(2),(3)
2,593,487
Total
Semiconductors
&
Semiconductor
Equipment
6,874,461
Software
-
3.3%
36,973
Check
Point
Software
Technologies
Ltd
(2)
4,708,881
15,157
Roper
Technologies
Inc
6,893,100
9,393
Synopsys
Inc
(2)
3,487,809
Total
Software
15,089,790
Specialized
REITs
-
1.2%
188,122
Weyerhaeuser
Co
5,626,729
Total
Specialized
REITs
5,626,729
Specialty
Retail
-
1.7%
23,467
Advance
Auto
Parts
Inc
2,945,812
37,791
AutoNation
Inc
(2)
4,977,075
Total
Specialty
Retail
7,922,887
Textiles,
Apparel
&
Luxury
Goods
-
1.0%
37,486
Ralph
Lauren
Corp
4,303,018
Total
Textiles,
Apparel
&
Luxury
Goods
4,303,018
Trading
Companies
&
Distributors
-
1.8%
57,845
WESCO
International
Inc
8,329,680
Total
Trading
Companies
&
Distributors
8,329,680
Total
Long-Term
Investments
(cost
$387,972,341)
449,441,790
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
0.5%
X
2,592,762
MONEY
MARKET
FUNDS
-
0.5%
X
2,592,762
2,592,762
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(4)
4.840%(5)
$
2,592,762
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$2,592,762)
2,592,762
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
1.3%
5,878,480
REPURCHASE
AGREEMENTS
-
1.3%
5,878,480
$
5,878
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
4/28/23,
repurchase
price
$5,879,185,
collateralized
$6,557,100,
U.S.
Treasury
Note,
0.75%,
due
5/31/26,
value
$5,996,056
1.440%
5/01/23
$
5,878,480
Total
Repurchase
Agreements
(cost
$5,878,480)
5,878,480
Total
Short-Term
Investments
(cost
$5,878,480)
5,878,480
Total
Investments
(cost
$396,443,583
)
-
100.5%
457,913,032
Other
Assets
&
Liabilities,
Net
- (0.5)%
(2,478,576)
Net
Assets
-
100%
$
455,434,456
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
$2,567,512.
Nuveen
Mid
Cap
Value
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
38
(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
Notes
to
Financial
Statements
39
Nuveen
Small
Cap
Growth
Opportunities
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Shares
Description
(1)
Value
LONG-TERM
INVESTMENTS
-
98.4%
X
193,034,833
COMMON
STOCKS
-
98.4%
X
193,034,833
Aerospace
&
Defense
-
1.5%
220,206
Kratos
Defense
&
Security
Solutions
Inc
(2)
$
2,840,657
Total
Aerospace
&
Defense
2,840,657
Automobile
Components
-
0.8%
27,781
Gentherm
Inc
(2)
1,657,137
Total
Automobile
Components
1,657,137
Banks
-
1.3%
37,249
Ameris
Bancorp
1,247,841
28,925
Preferred
Bank/Los
Angeles
CA
1,390,714
Total
Banks
2,638,555
Beverages
-
1.5%
29,640
MGP
Ingredients
Inc
2,924,875
Total
Beverages
2,924,875
Biotechnology
-
4.6%
16,376
Apellis
Pharmaceuticals
Inc
(2)
1,366,250
34,789
Cytokinetics
Inc
(2)
1,301,109
57,456
Halozyme
Therapeutics
Inc
(2)
1,846,061
17,010
Intellia
Therapeutics
Inc
(2)
642,127
42,058
IVERIC
bio
Inc
(2)
1,383,288
6,124
Karuna
Therapeutics
Inc
(2)
1,215,246
6,796
Prometheus
Biosciences
Inc
(2)
1,318,084
Total
Biotechnology
9,072,165
Broadline
Retail
-
1.7%
51,630
Ollie's
Bargain
Outlet
Holdings
Inc
(2)
3,368,857
Total
Broadline
Retail
3,368,857
Building
Products
-
1.6%
114,788
AZEK
Co
Inc/The
(2)
3,115,346
Total
Building
Products
3,115,346
Capital
Markets
-
1.6%
27,308
Evercore
Inc
3,115,024
Total
Capital
Markets
3,115,024
Chemicals
-
1.5%
135,579
Livent
Corp
(2)
2,962,401
Total
Chemicals
2,962,401
Commercial
Services
&
Supplies
-
3.9%
46,576
Casella
Waste
Systems
Inc,
Class
A
(2)
4,145,264
25,491
Tetra
Tech
Inc
3,527,190
Total
Commercial
Services
&
Supplies
7,672,454
Construction
Materials
-
1.2%
88,518
Summit
Materials
Inc,
Class
A
(2)
2,426,278
Total
Construction
Materials
2,426,278
Nuveen
Small
Cap
Growth
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
40
Shares
Description
(1)
Value
Containers
&
Packaging
-
0.9%
37,123
Silgan
Holdings
Inc
$
1,828,679
Total
Containers
&
Packaging
1,828,679
Electrical
Equipment
-
2.4%
17,823
Atkore
Inc
(2)
2,251,580
143,068
Bloom
Energy
Corp,
Class
A
(2)
2,382,082
Total
Electrical
Equipment
4,633,662
Entertainment
-
0.8%
14,729
World
Wrestling
Entertainment
Inc,
Class
A
1,578,507
Total
Entertainment
1,578,507
Equity
Real
Estate
Investment
Trusts
(REITs)
-
2.7%
21,913
EastGroup
Properties
Inc
3,649,829
261,772
Summit
Hotel
Properties
Inc
1,685,812
Total
Equity
Real
Estate
Investment
Trusts
(REITs)
5,335,641
Ground
Transportation
-
1.7%
10,853
Saia
Inc
(2)
3,231,698
Total
Ground
Transportation
3,231,698
Health
Care
Equipment
&
Supplies
-
8.6%
47,119
AtriCure
Inc
(2)
2,072,765
55,276
Axonics
Inc
(2)
3,176,159
30,713
Establishment
Labs
Holdings
Inc
(2)
2,140,389
14,796
Inspire
Medical
Systems
Inc
(2)
3,959,853
48,025
Lantheus
Holdings
Inc
(2)
4,103,736
35,282
Tandem
Diabetes
Care
Inc
(2)
1,396,462
Total
Health
Care
Equipment
&
Supplies
16,849,364
Health
Care
Providers
&
Services
-
7.2%
34,951
Addus
HomeCare
Corp
(2)
2,856,895
46,370
Encompass
Health
Corp
2,974,635
29,532
Ensign
Group
Inc/The
2,867,262
54,560
HealthEquity
Inc
(2)
2,916,232
77,439
Progyny
Inc
(2)
2,574,072
Total
Health
Care
Providers
&
Services
14,189,096
Health
Care
Technology
-
1.9%
101,331
Evolent
Health
Inc,
Class
A
(2)
3,689,462
Total
Health
Care
Technology
3,689,462
Hotels,
Restaurants
&
Leisure
-
5.3%
184,514
Everi
Holdings
Inc
(2)
2,804,613
38,624
Papa
John's
International
Inc
2,888,689
34,161
Planet
Fitness
Inc
(2)
2,840,146
17,578
Texas
Roadhouse
Inc
1,944,478
Total
Hotels,
Restaurants
&
Leisure
10,477,926
Insurance
-
2.4%
9,592
Kinsale
Capital
Group
Inc
3,133,802
30,812
Palomar
Holdings
Inc
(2)
1,548,611
Total
Insurance
4,682,413
IT
Services
-
1.3%
29,617
Maximus
Inc
2,477,462
Total
IT
Services
2,477,462
41
Shares
Description
(1)
Value
Leisure
Products
-
1.0%
91,694
Topgolf
Callaway
Brands
Corp
(2)
$
2,032,856
Total
Leisure
Products
2,032,856
Machinery
-
4.2%
19,211
Chart
Industries
Inc
(2)
2,556,984
31,171
ESCO
Technologies
Inc
2,916,671
44,509
SPX
Technologies
Inc
(2)
2,834,333
Total
Machinery
8,307,988
Media
-
1.2%
253,867
Magnite
Inc
(2)
2,386,350
591,081
Videopropulsion
Inc
(2),(3)
591
Total
Media
2,386,941
Oil,
Gas
&
Consumable
Fuels
-
7.9%
83,255
Delek
US
Holdings
Inc
1,810,796
81,112
Matador
Resources
Co
3,976,922
103,631
Northern
Oil
and
Gas
Inc
3,437,440
316,623
Permian
Resources
Corp
3,308,710
69,834
Ranger
Oil
Corp,
Class
A
2,877,161
Total
Oil,
Gas
&
Consumable
Fuels
15,411,029
Personal
Care
Products
-
1.9%
104,527
BellRing
Brands
Inc
(2)
3,761,927
Total
Personal
Care
Products
3,761,927
Pharmaceuticals
-
2.0%
37,157
Amylyx
Pharmaceuticals
Inc
(2)
1,055,259
27,772
Intra-Cellular
Therapies
Inc
(2)
1,726,030
28,347
Ventyx
Biosciences
Inc
(2)
1,065,847
Total
Pharmaceuticals
3,847,136
Professional
Services
-
1.4%
23,641
ICF
International
Inc
2,695,074
Total
Professional
Services
2,695,074
Semiconductors
&
Semiconductor
Equipment
-
7.4%
70,554
Coherent
Corp
(2)
2,408,713
33,067
Impinj
Inc
(2)
2,923,453
34,100
Lattice
Semiconductor
Corp
(2)
2,717,770
44,208
MACOM
Technology
Solutions
Holdings
Inc
(2)
2,579,095
27,182
Silicon
Laboratories
Inc
(2)
3,786,453
Total
Semiconductors
&
Semiconductor
Equipment
14,415,484
Software
-
10.8%
31,719
Blackline
Inc
(2)
1,767,066
56,799
Braze
Inc,
Class
A
(2)
1,669,891
30,586
CommVault
Systems
Inc
(2)
1,782,246
16,382
CyberArk
Software
Ltd
(2)
2,041,197
41,916
Envestnet
Inc
(2)
2,656,636
163,896
PowerSchool
Holdings
Inc,
Class
A
(2)
3,422,148
50,555
Sprout
Social
Inc,
Class
A
(2)
2,490,339
88,122
Varonis
Systems
Inc
(2)
2,040,906
35,647
Workiva
Inc
(2)
3,330,143
Total
Software
21,200,572
Specialty
Retail
-
1.3%
35,399
Boot
Barn
Holdings
Inc
(2)
2,565,366
Total
Specialty
Retail
2,565,366
Nuveen
Small
Cap
Growth
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
42
Shares
Description
(1)
Value
Textiles,
Apparel
&
Luxury
Goods
-
1.4%
77,889
Steven
Madden
Ltd
$
2,729,231
Total
Textiles,
Apparel
&
Luxury
Goods
2,729,231
Trading
Companies
&
Distributors
-
1.5%
21,477
Applied
Industrial
Technologies
Inc
2,913,570
Total
Trading
Companies
&
Distributors
2,913,570
Total
Long-Term
Investments
(cost
$172,073,519)
193,034,833
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
1.8%
X
3,468,644
REPURCHASE
AGREEMENTS
-
1.8%
X
3,468,644
$
3,469
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
4/28/23,
repurchase
price
$3,469,060,
collateralized
$3,869,100,
U.S.
Treasury
Note,
0.75%,
due
5/31/26,
value
$3,538,049
1.440%
5/01/23
$
3,468,644
Total
Repurchase
Agreements
(cost
$3,468,644)
3,468,644
Total
Short-Term
Investments
(cost
$3,468,644)
3,468,644
Total
Investments
(cost
$
175,542,163
)
-
100
.2
%
196,503,477
Other
Assets
&
Liabilities,
Net
- (0.2)%
(
330,053
)
Net
Assets
-
100%
$
196,173,424
For
Fund
portfolio
compliance
purposes,
the
Fund’s
industry
classifications
refer
to
any
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
ratings
group
indexes,
and/or
as
defined
by
Fund
management.
This
definition
may
not
apply
for
purposes
of
this
report,
which
may
combine
industry
sub-classifications
into
sectors
for
reporting
ease.
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets.
(2)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(3)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
See
accompanying
notes
to
financial
statements
43
Nuveen
Small
Cap
Select
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Shares
Description
(1)
Value
LONG-TERM
INVESTMENTS
-
99.4%
X
100,604,167
COMMON
STOCKS
-
98.0%
X
100,604,167
Aerospace
&
Defense
-
1.5%
121,678
Kratos
Defense
&
Security
Solutions
Inc
(2)
$
1,569,646
Total
Aerospace
&
Defense
1,569,646
Automobile
Components
-
0.9%
60,304
Dana
Inc
891,896
Total
Automobile
Components
891,896
Banks
-
5.9%
25,055
Banner
Corp
1,250,746
69,559
Home
BancShares
Inc/AR
1,514,299
15,770
Preferred
Bank/Los
Angeles
CA
758,222
16,879
SouthState
Corp
1,164,313
20,375
Wintrust
Financial
Corp
1,393,039
Total
Banks
6,080,619
Beverages
-
3.0%
14,804
MGP
Ingredients
Inc
1,460,858
103,746
Primo
Water
Corp
1,575,902
Total
Beverages
3,036,760
Biotechnology
-
2.9%
5,898
Apellis
Pharmaceuticals
Inc
(2)
492,070
7,506
Cytokinetics
Inc
(2)
280,725
18,016
Halozyme
Therapeutics
Inc
(2)
578,854
7,603
Intellia
Therapeutics
Inc
(2)
287,013
14,758
IVERIC
bio
Inc
(2)
485,391
1,832
Karuna
Therapeutics
Inc
(2)
363,542
2,382
Prometheus
Biosciences
Inc
(2)
461,989
Total
Biotechnology
2,949,584
Broadline
Retail
-
1.7%
26,141
Ollie's
Bargain
Outlet
Holdings
Inc
(2)
1,705,700
Total
Broadline
Retail
1,705,700
Building
Products
-
1.6%
18,174
Masonite
International
Corp
(2)
1,661,285
Total
Building
Products
1,661,285
Capital
Markets
-
2.9%
13,359
Evercore
Inc
1,523,861
10,406
Piper
Sandler
Cos
1,409,389
Total
Capital
Markets
2,933,250
Chemicals
-
1.4%
36,535
Avient
Corp
1,406,963
Total
Chemicals
1,406,963
Construction
&
Engineering
-
4.6%
24,990
Arcosa
Inc
1,687,824
11,912
Comfort
Systems
USA
Inc
1,780,725
9,408
MYR
Group
Inc
(2)
1,204,130
Total
Construction
&
Engineering
4,672,679
Nuveen
Small
Cap
Select
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
44
Shares
Description
(1)
Value
Construction
Materials
-
1.3%
48,371
Summit
Materials
Inc,
Class
A
(2)
$
1,325,849
Total
Construction
Materials
1,325,849
Consumer
Finance
-
1.2%
12,329
FirstCash
Holdings
Inc
1,270,257
Total
Consumer
Finance
1,270,257
Containers
&
Packaging
-
1.6%
32,760
Silgan
Holdings
Inc
1,613,758
Total
Containers
&
Packaging
1,613,758
Electrical
Equipment
-
1.2%
72,618
Bloom
Energy
Corp,
Class
A
(2)
1,209,090
Total
Electrical
Equipment
1,209,090
Electronic
Equipment,
Instruments
&
Components
-
1.3%
110,501
TTM
Technologies
Inc
(2)
1,305,017
Total
Electronic
Equipment,
Instruments
&
Components
1,305,017
Equity
Real
Estate
Investment
Trusts
(REITs)
-
3.8%
9,643
EastGroup
Properties
Inc
1,606,138
45,040
STAG
Industrial
Inc
1,525,505
127,258
Summit
Hotel
Properties
Inc
819,541
Total
Equity
Real
Estate
Investment
Trusts
(REITs)
3,951,184
Gas
Utilities
-
1.3%
20,356
Spire
Inc
1,378,712
Total
Gas
Utilities
1,378,712
Health
Care
Equipment
&
Supplies
-
4.1%
27,829
AtriCure
Inc
(2)
1,224,198
22,424
Axonics
Inc
(2)
1,288,483
15,111
Establishment
Labs
Holdings
Inc
(2)
1,053,086
17,180
Tandem
Diabetes
Care
Inc
(2)
679,984
Total
Health
Care
Equipment
&
Supplies
4,245,751
Health
Care
Providers
&
Services
-
8.6%
24,329
Encompass
Health
Corp
1,560,705
27,783
HealthEquity
Inc
(2)
1,485,001
49,573
Option
Care
Health
Inc
(2)
1,593,772
33,423
Progyny
Inc
(2)
1,110,981
40,731
Select
Medical
Holdings
Corp
1,242,296
24,891
Tenet
Healthcare
Corp
(2)
1,825,008
Total
Health
Care
Providers
&
Services
8,817,763
Hotels,
Restaurants
&
Leisure
-
3.1%
69,980
Everi
Holdings
Inc
(2)
1,063,696
15,119
Papa
John's
International
Inc
1,130,750
9,019
Texas
Roadhouse
Inc
997,682
Total
Hotels,
Restaurants
&
Leisure
3,192,128
Insurance
-
1.5%
8,605
Primerica
Inc
1,570,499
Total
Insurance
1,570,499
Interactive
Media
&
Services
-
1.1%
15,542
Ziff
Davis
Inc
(2)
1,136,742
Total
Interactive
Media
&
Services
1,136,742
45
Shares
Description
(1)
Value
IT
Services
-
1.2%
14,819
Maximus
Inc
$
1,239,609
Total
IT
Services
1,239,609
Leisure
Products
-
1.2%
57,426
Topgolf
Callaway
Brands
Corp
(2)
1,273,134
Total
Leisure
Products
1,273,134
Machinery
-
4.2%
13,468
EnPro
Industries
Inc
1,269,628
16,729
ESCO
Technologies
Inc
1,565,333
22,736
SPX
Technologies
Inc
(2)
1,447,828
Total
Machinery
4,282,789
Marine
Transportation
-
1.6%
23,456
Kirby
Corp
(2)
1,685,079
Total
Marine
Transportation
1,685,079
Media
-
1.2%
130,291
Magnite
Inc
(2)
1,224,735
Total
Media
1,224,735
Metals
&
Mining
-
1.0%
52,420
Lithium
Americas
Corp
(2),(3)
1,047,352
Total
Metals
&
Mining
1,047,352
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
0.9%
99,506
Ladder
Capital
Corp
930,381
Total
Mortgage
Real
Estate
Investment
Trusts
(REITs)
930,381
Multi-Utilities
-
1.8%
27,574
Black
Hills
Corp
1,800,306
Total
Multi-Utilities
1,800,306
Oil,
Gas
&
Consumable
Fuels
-
7.5%
49,853
Delek
US
Holdings
Inc
1,084,303
37,344
Matador
Resources
Co
1,830,976
66,185
Northern
Oil
and
Gas
Inc
2,195,357
40,466
Peabody
Energy
Corp
(2)
971,993
151,272
Permian
Resources
Corp
1,580,792
Total
Oil,
Gas
&
Consumable
Fuels
7,663,421
Personal
Care
Products
-
2.3%
65,943
BellRing
Brands
Inc
(2)
2,373,290
Total
Personal
Care
Products
2,373,290
Pharmaceuticals
-
1.8%
9,900
Amylyx
Pharmaceuticals
Inc
(2)
281,160
9,151
Intra-Cellular
Therapies
Inc
(2)
568,735
7,164
Prestige
Consumer
Healthcare
Inc
(2)
440,801
14,761
Ventyx
Biosciences
Inc
(2)
555,013
Total
Pharmaceuticals
1,845,709
Professional
Services
-
2.4%
13,907
ASGN
Inc
(2)
995,602
12,792
ICF
International
Inc
1,458,288
Total
Professional
Services
2,453,890
Nuveen
Small
Cap
Select
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
46
Shares
Description
(1)
Value
Semiconductors
&
Semiconductor
Equipment
-
4.3%
13,369
Impinj
Inc
(2)
$
1,181,953
13,760
Lattice
Semiconductor
Corp
(2)
1,096,672
18,846
MACOM
Technology
Solutions
Holdings
Inc
(2)
1,099,476
7,819
Silicon
Laboratories
Inc
(2)
1,089,187
Total
Semiconductors
&
Semiconductor
Equipment
4,467,288
Software
-
5.8%
20,781
CommVault
Systems
Inc
(2)
1,210,909
7,129
CyberArk
Software
Ltd
(2)
888,273
64,789
PowerSchool
Holdings
Inc,
Class
A
(2)
1,352,794
22,464
Sprout
Social
Inc,
Class
A
(2)
1,106,577
15,261
Workiva
Inc
(2)
1,425,683
Total
Software
5,984,236
Specialty
Retail
-
1.6%
19,191
Academy
Sports
&
Outdoors
Inc
1,219,012
14,890
Children's
Place
Inc
(2)
441,340
Total
Specialty
Retail
1,660,352
Textiles,
Apparel
&
Luxury
Goods
-
1.4%
39,833
Steven
Madden
Ltd
1,395,748
Total
Textiles,
Apparel
&
Luxury
Goods
1,395,748
Trading
Companies
&
Distributors
-
1.3%
9,964
Applied
Industrial
Technologies
Inc
1,351,716
Total
Trading
Companies
&
Distributors
1,351,716
Total
Common
Stocks
(cost
$86,641,514)
100,604,167
Shares
Description
(1)
Value
X
1,429,244
EXCHANGE-TRADED
FUNDS
-
1.4%
X
1,429,244
17,821
SPDR
S&P
Biotech
ETF
(2),(3)
$
1,429,244
Total
Exchange-Traded
Funds
(cost
$1,435,205)
1,429,244
Total
Long-Term
Investments
(cost
$88,076,719)
102,033,411
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
2.4%
2,481,931
MONEY
MARKET
FUNDS
-
2.4%
X
2,481,931
2,481,931
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(4)
4.840%(5)
$
2,481,931
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$2,481,931)
2,481,931
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
1.0%
973,103
REPURCHASE
AGREEMENTS
-
1.0%
973,103
$
973
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
4/28/23,
repurchase
price
$973,220,
collateralized
$1,085,500,
U.S.
Treasury
Note
0.75%,
due
5/31/26,
value
$992,622
1.440%
5/01/23
$
973,103
Total
Repurchase
Agreements
(cost
$973,103)
973,103
Total
Short-Term
Investments
(cost
$973,103)
973,103
Total
Investments
(cost
$91,531,753
)
-
102.8%
105,488,445
Other
Assets
&
Liabilities,
Net
- (2.8)%
(2,867,683)
Net
Assets
-
100%
$
102,620,762
47
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
$2,451,510.
(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
Notes
to
Financial
Statements
48
Nuveen
Small
Cap
Value
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Shares
Description
(1)
Value
LONG-TERM
INVESTMENTS
-
99.2%
X
491,228,985
COMMON
STOCKS
-
99.2%
X
491,228,985
Aerospace
&
Defense
-
1.1%
128,884
Parsons
Corp
(2)
$
5,606,454
Total
Aerospace
&
Defense
5,606,454
Air
Freight
&
Logistics
-
1.3%
308,131
Air
Transport
Services
Group
Inc
(2)
6,258,141
Total
Air
Freight
&
Logistics
6,258,141
Automobile
Components
-
1.0%
349,222
Dana
Inc
5,164,993
Total
Automobile
Components
5,164,993
Banks
-
12.4%
157,116
Ameris
Bancorp
5,263,386
157,685
Banner
Corp
7,871,635
169,560
Cathay
General
Bancorp
5,403,877
266,394
ConnectOne
Bancorp
Inc
4,203,697
160,798
Eastern
Bankshares
Inc
1,873,297
213,337
First
Interstate
BancSystem
Inc,
Class
A
5,459,294
226,083
First
Merchants
Corp
6,597,102
172,862
Heartland
Financial
USA
Inc
5,628,387
352,682
OceanFirst
Financial
Corp
5,642,912
74,390
Pinnacle
Financial
Partners
Inc
4,034,170
100,931
Preferred
Bank/Los
Angeles
CA
4,852,762
66,412
Wintrust
Financial
Corp
4,540,588
Total
Banks
61,371,107
Beverages
-
1.4%
440,693
Primo
Water
Corp
6,694,127
Total
Beverages
6,694,127
Biotechnology
-
2.8%
187,990
Alkermes
PLC
(2)
5,367,115
282,356
Exelixis
Inc
(2)
5,167,115
14,826
United
Therapeutics
Corp
(2)
3,411,907
Total
Biotechnology
13,946,137
Broadline
Retail
-
1.1%
85,677
Ollie's
Bargain
Outlet
Holdings
Inc
(2)
5,590,424
Total
Broadline
Retail
5,590,424
Building
Products
-
1.2%
335,516
Resideo
Technologies
Inc
(2)
5,972,185
Total
Building
Products
5,972,185
Capital
Markets
-
2.6%
47,642
Piper
Sandler
Cos
6,452,633
108,022
Stifel
Financial
Corp
6,478,079
Total
Capital
Markets
12,930,712
Chemicals
-
3.9%
44,108
Avient
Corp
1,698,599
49,881
Cabot
Corp
3,579,460
730,772
Ecovyst
Inc
(2)
8,294,262
49
Shares
Description
(1)
Value
Chemicals
(continued)
99,037
Minerals
Technologies
Inc
$
5,868,933
Total
Chemicals
19,441,254
Commercial
Services
&
Supplies
-
2.0%
295,223
Deluxe
Corp
4,472,628
162,934
SP
Plus
Corp
(2)
5,567,455
Total
Commercial
Services
&
Supplies
10,040,083
Communications
Equipment
-
1.5%
278,396
ADTRAN
Holdings
Inc
2,538,972
354,779
Harmonic
Inc
(2)
4,998,836
Total
Communications
Equipment
7,537,808
Construction
&
Engineering
-
1.8%
50,577
EMCOR
Group
Inc
8,648,667
Total
Construction
&
Engineering
8,648,667
Construction
Materials
-
0.8%
134,484
Summit
Materials
Inc,
Class
A
(2)
3,686,206
Total
Construction
Materials
3,686,206
Consumer
Finance
-
1.6%
208,218
OneMain
Holdings
Inc
7,989,325
Total
Consumer
Finance
7,989,325
Electric
Utilities
-
1.6%
111,398
Otter
Tail
Corp
8,015,086
Total
Electric
Utilities
8,015,086
Electrical
Equipment
-
1.8%
211,144
nVent
Electric
PLC
8,853,268
Total
Electrical
Equipment
8,853,268
Electronic
Equipment,
Instruments
&
Components
-
1.7%
116,639
Avnet
Inc
4,812,525
299,350
TTM
Technologies
Inc
(2)
3,535,324
Total
Electronic
Equipment,
Instruments
&
Components
8,347,849
Energy
Equipment
&
Services
-
1.4%
259,645
ChampionX
Corp
7,031,187
Total
Energy
Equipment
&
Services
7,031,187
Equity
Real
Estate
Investment
Trusts
(REITs)
-
5.8%
133,094
EPR
Properties
5,584,624
609,275
Global
Medical
REIT
Inc
5,654,072
734,664
LXP
Industrial
Trust
6,905,842
534,577
RPT
Realty
4,971,566
164,066
STAG
Industrial
Inc
5,556,915
Total
Equity
Real
Estate
Investment
Trusts
(REITs)
28,673,019
Financial
Services
-
1.9%
393,893
Radian
Group
Inc
9,559,783
Total
Financial
Services
9,559,783
Food
Products
-
1.0%
194,638
Hostess
Brands
Inc
(2)
5,013,875
Total
Food
Products
5,013,875
Nuveen
Small
Cap
Value
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
50
Shares
Description
(1)
Value
Gas
Utilities
-
3.2%
97,759
ONE
Gas
Inc
$
7,522,555
122,316
Spire
Inc
8,284,463
Total
Gas
Utilities
15,807,018
Ground
Transportation
-
1.5%
280,339
Schneider
National
Inc,
Class
B
7,336,472
Total
Ground
Transportation
7,336,472
Health
Care
Equipment
&
Supplies
-
1.2%
105,142
Enovis
Corp
(2)
6,124,521
Total
Health
Care
Equipment
&
Supplies
6,124,521
Health
Care
Providers
&
Services
-
3.3%
94,316
Acadia
Healthcare
Co
Inc
(2)
6,818,104
19,184
Encompass
Health
Corp
1,230,653
250,652
Option
Care
Health
Inc
(2)
8,058,462
Total
Health
Care
Providers
&
Services
16,107,219
Hotel
&
Resort
REITs
-
1.0%
335,275
Apple
Hospitality
REIT
Inc
4,992,245
Total
Hotel
&
Resort
REITs
4,992,245
Hotels,
Restaurants
&
Leisure
-
2.5%
77,232
Dine
Brands
Global
Inc
5,014,674
55,264
Marriott
Vacations
Worldwide
Corp
7,436,324
Total
Hotels,
Restaurants
&
Leisure
12,450,998
Household
Durables
-
2.2%
225,969
La-Z-Boy
Inc
6,492,089
66,617
M/I
Homes
Inc
(2)
4,505,974
Total
Household
Durables
10,998,063
Insurance
-
2.4%
298,775
James
River
Group
Holdings
Ltd
5,817,149
33,258
Primerica
Inc
6,069,918
Total
Insurance
11,887,067
Interactive
Media
&
Services
-
0.6%
40,055
Ziff
Davis
Inc
(2)
2,929,623
Total
Interactive
Media
&
Services
2,929,623
IT
Services
-
1.2%
70,095
Maximus
Inc
5,863,447
Total
IT
Services
5,863,447
Leisure
Products
-
2.4%
43,111
Brunswick
Corp/DE
3,655,381
358,610
Topgolf
Callaway
Brands
Corp
(2)
7,950,384
Total
Leisure
Products
11,605,765
Machinery
-
1.9%
208,427
Hillenbrand
Inc
9,508,440
Total
Machinery
9,508,440
Media
-
0.3%
134,516
Magnite
Inc
(2)
1,264,450
Total
Media
1,264,450
51
Shares
Description
(1)
Value
Metals
&
Mining
-
1.2%
127,753
Commercial
Metals
Co
$
5,964,787
Total
Metals
&
Mining
5,964,787
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
1.6%
821,416
Ladder
Capital
Corp
7,680,240
Total
Mortgage
Real
Estate
Investment
Trusts
(REITs)
7,680,240
Multi-Utilities
-
1.9%
144,611
Black
Hills
Corp
9,441,652
Total
Multi-Utilities
9,441,652
Oil,
Gas
&
Consumable
Fuels
-
5.9%
549,316
CNX
Resources
Corp
(2)
8,530,877
126,786
Excelerate
Energy
Inc,
Class
A
2,725,899
196,334
Magnolia
Oil
&
Gas
Corp,
Class
A
4,146,574
197,850
Northern
Oil
and
Gas
Inc
6,562,685
704,244
Permian
Resources
Corp
7,359,350
Total
Oil,
Gas
&
Consumable
Fuels
29,325,385
Pharmaceuticals
-
1.7%
137,087
Prestige
Consumer
Healthcare
Inc
(2)
8,434,963
Total
Pharmaceuticals
8,434,963
Professional
Services
-
1.4%
141,455
Korn
Ferry
6,792,669
Total
Professional
Services
6,792,669
Real
Estate
Management
&
Development
-
1.5%
454,265
Kennedy-Wilson
Holdings
Inc
7,622,567
Total
Real
Estate
Management
&
Development
7,622,567
Residential
REITs
-
0.9%
81,557
Centerspace
4,598,184
Total
Residential
REITs
4,598,184
Semiconductors
&
Semiconductor
Equipment
-
0.8%
209,869
Veeco
Instruments
Inc
(2)
3,865,787
Total
Semiconductors
&
Semiconductor
Equipment
3,865,787
Software
-
2.7%
220,438
Cerence
Inc
(2)
5,632,191
217,442
Verint
Systems
Inc
(2)
7,934,458
Total
Software
13,566,649
Specialty
Retail
-
1.6%
34,884
Group
1
Automotive
Inc
7,830,760
Total
Specialty
Retail
7,830,760
Technology
Hardware,
Storage
&
Peripherals
-
1.0%
349,851
Stratasys
Ltd
(2)
5,023,860
Total
Technology
Hardware,
Storage
&
Peripherals
5,023,860
Nuveen
Small
Cap
Value
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
52
Shares
Description
(1)
Value
Trading
Companies
&
Distributors
-
1.6%
54,406
WESCO
International
Inc
$
7,834,464
Total
Trading
Companies
&
Distributors
7,834,464
Total
Long-Term
Investments
(cost
$446,200,301)
491,228,985
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
1.2%
X
5,762,616
REPURCHASE
AGREEMENTS
-
1.2%
X
5,762,616
$
5,763
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
4/28/23,
repurchase
price
$5,763,307,
collateralized
$6,427,900,
U.S.
Treasury
Note
0.75%,
due
5/31/26,
value
$5,877,911
1.440%
5/01/23
$
5,762,616
Total
Repurchase
Agreements
(cost
$5,762,616)
5,762,616
Total
Short-Term
Investments
(cost
$5,762,616)
5,762,616
Total
Investments
(cost
$451,962,917
)
-
100.4%
496,991,601
Other
Assets
&
Liabilities,
Net
- (0.4)%
(1,963,652)
Net
Assets
-
100%
$
495,027,949
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
Notes
to
Financial
Statements
Statement
of
Assets
and
Liabilities
See
Notes
to
Financial
Statements.
53
April
30,
2023
(Unaudited)
Dividend
Value
Large
Cap
Select
Mid
Cap
Growth
Opportunities
Mid
Cap
Value
Small
Cap
Growth
Opportunities
ASSETS
Long-term
investments,
at
value
†‡
$
3,077,632,129
$
33,869,296
$
188,878,715
$
449,441,790
$
193,034,833
Investments
purchased
with
collateral
from
securities
lending,
at
value
(cost
approximates
value)
–
–
3,801,223
2,592,762
–
Short-term
investments,
at
value
◊
22,494,415
113,653
3,264,270
5,878,480
3,468,644
Cash
5,646
–
–
–
–
Receivables:
Dividends
2,905,965
17,383
21,890
230,617
–
Interest
2,699
14
392
705
416
Investments
sold
23,205,751
501,095
1,222,627
–
421,756
Reclaims
39,200
–
–
–
–
Reimbursement
from
Adviser
592,746
4,767
38,891
83,694
38,183
Shares
sold
4,323,673
3,838
27,166
700,485
59,952
Other
assets
339,803
29,601
107,795
62,443
36,462
Total
assets
3,131,542,027
34,539,647
197,362,969
458,990,976
197,060,246
LIABILITIES
Cash
overdraft
–
–
144,336
–
–
Payables:
Collateral
from
securities
lending
–
–
3,801,223
2,592,762
–
Investments
purchased
-
regular
settlement
19,556,691
366,440
1,225,940
–
422,550
Shares
redeemed
647,590
10,304
222,917
351,886
157,274
Accrued
expenses:
Custodian
fees
277,550
20,208
48,125
43,913
47,580
Management
fees
1,530,188
9,048
126,193
233,880
103,912
Directors
fees
295,523
371
73,749
18,513
3,302
Professional
fees
17,261
9,221
13,830
16,390
13,156
Shareholder
reporting
expenses
49,287
7,328
16,536
32,958
52,444
Shareholder
servicing
agent
fees
240,711
3,991
65,126
247,909
76,877
12b-1
distribution
and
service
fees
84,171
5,866
29,113
17,162
8,179
Other
5,815
672
1,044
1,147
1,548
Total
liabilities
22,704,787
433,449
5,768,132
3,556,520
886,822
Net
assets
$
3,108,837,240
$
34,106,198
$
191,594,837
$
455,434,456
$
196,173,424
NET
ASSETS
CONSIST
OF:
Paid-in
capital
$
2,817,049,861
$
28,622,227
$
209,997,672
$
380,392,988
$
212,139,628
Total
distributable
earnings
(loss)
291,787,379
5,483,971
(
18,402,835
)
75,041,468
(
15,966,204
)
Net
assets
3,108,837,240
34,106,198
191,594,837
455,434,456
196,173,424
†
Long-term
investments,
cost
$
2,840,294,571
$
29,259,294
$
173,366,585
$
387,972,341
$
172,073,519
◊
Short-term
investments,
cost
$
22,494,415
$
113,653
$
3,264,270
$
5,878,480
$
3,468,644
‡
Includes
securities
loaned
of
$
—
$
—
$
3,573,447
$
2,567,512
$
—
Statement
of
Assets
and
Liabilities
(continued)
See
Notes
to
Financial
Statements.
54
April
30,
2023
(Unaudited)
Small
Cap
Select
Small
Cap
Value
ASSETS
Long-term
investments,
at
value
†‡
$
102,033,411
$
491,228,985
Investments
purchased
with
collateral
from
securities
lending,
at
value
(cost
approximates
value)
2,481,931
–
Short-term
investments,
at
value
◊
973,103
5,762,616
Receivables:
Dividends
5,517
113,065
Interest
117
692
Investments
sold
207,296
10,444,384
Reclaims
–
2,744
Reimbursement
from
Adviser
35,446
129,471
Shares
sold
48,881
384,569
Other
assets
54,651
93,824
Total
assets
105,840,353
508,160,350
LIABILITIES
Payables:
Collateral
from
securities
lending
2,481,931
–
Investments
purchased
-
regular
settlement
267,902
11,687,213
Shares
redeemed
283,693
746,393
Accrued
expenses:
Custodian
fees
37,169
76,819
Management
fees
48,299
286,821
Directors
fees
21,536
53,655
Professional
fees
10,796
19,497
Shareholder
reporting
expenses
15,946
58,303
Shareholder
servicing
agent
fees
40,569
166,755
12b-1
distribution
and
service
fees
10,938
35,504
Other
812
1,441
Total
liabilities
3,219,591
13,132,401
Net
assets
$
102,620,762
$
495,027,949
NET
ASSETS
CONSIST
OF:
Paid-in
capital
$
97,161,795
$
670,614,537
Total
distributable
earnings
(loss)
5,458,967
(
175,586,588
)
Net
assets
102,620,762
495,027,949
†
Long-term
investments,
cost
$
88,076,719
$
446,200,301
◊
Short-term
investments,
cost
$
973,103
$
5,762,616
‡
Includes
securities
loaned
of
$
2,451,510
$
—
Statement
of
Assets
and
Liabilities
(continued)
See
Notes
to
Financial
Statements.
55
Dividend
Value
Large
Cap
Select
Mid
Cap
Growth
Opportunities
Mid
Cap
Value
Small
Cap
Growth
Opportunities
CLASS
A:
Net
assets
$
368,570,496
$
23,911,655
$
139,230,036
$
63,401,690
$
39,115,154
Shares
outstanding
28,123,985
764,667
6,765,253
1,331,147
1,962,898
Net
asset
value
("NAV")
per
share
$
13.11
$
31.27
$
20.58
$
47.63
$
19.93
Maximum
sales
charge
5.75%
5.75%
5.75%
5.75%
5.75%
Offering
price
per
share
(NAV
per
share
plus
maximum
sales
charge)
$
13.91
$
33.18
$
21.84
$
50.54
$
21.15
CLASS
C:
Net
assets
$
10,244,103
$
1,271,868
$
653
$
5,059,295
$
(
221
)
Shares
outstanding
801,070
45,754
—
114,755
—
NAV
and
offering
price
per
share
$
12.79
$
27.80
$
—
$
44.09
$
—
CLASS
R6:
Net
assets
$
2,424,024,114
$
—
$
3,153,924
$
33,462,993
$
664,418
Shares
outstanding
180,187,093
—
97,358
695,845
24,976
NAV
and
offering
price
per
share
$
13.45
$
—
$
32.40
$
48.09
$
26.60
CLASS
I:
Net
assets
$
305,998,527
$
8,922,675
$
49,210,224
$
353,510,477
$
156,394,073
Shares
outstanding
22,969,617
281,589
1,559,435
7,376,800
5,964,886
NAV
and
offering
price
per
share
$
13.32
$
31.69
$
31.56
$
47.92
$
26.22
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
Notes
to
Financial
Statements.
56
Small
Cap
Select
Small
Cap
Value
CLASS
A:
Net
assets
$
52,381,897
$
99,683,295
Shares
outstanding
6,515,656
4,069,639
Net
asset
value
("NAV")
per
share
$
8.04
$
24.49
Maximum
sales
charge
5.75%
5.75%
Offering
price
per
share
(NAV
per
share
plus
maximum
sales
charge)
$
8.53
$
25.98
CLASS
C:
Net
assets
$
(
905
)
$
17,302,084
Shares
outstanding
—
848,692
NAV
and
offering
price
per
share
$
—
$
20.39
CLASS
R6:
Net
assets
$
3,203,226
$
139,774,440
Shares
outstanding
276,280
5,465,418
NAV
and
offering
price
per
share
$
11.59
$
25.57
CLASS
I:
Net
assets
$
47,036,544
$
238,268,130
Shares
outstanding
4,072,441
9,370,818
NAV
and
offering
price
per
share
$
11.55
$
25.43
Authorized
shares
-
per
class
2
billion
2
billion
Par
value
per
share
$
0.0001
$
0.0001
Statement
of
Operations
See
Notes
to
Financial
Statements.
57
Six
Months
Ended
April
30,
2023
(Unaudited)
Dividend
Value
Large
Cap
Select
Mid
Cap
Growth
Opportunities
Mid
Cap
Value
INVESTMENT
INCOME
Dividends
$
39,201,147
$
282,762
$
618,326
$
4,880,297
Interest
202,982
1,329
12,721
43,404
Securities
lending
income,
net
—
—
3,708
88
Other
income
1,065,744
5,851
15,083
132,369
Tax
withheld
(
39,331
)
(
440
)
(
1,316
)
(
7,052
)
Total
investment
income
40,430,542
289,502
648,522
5,049,106
EXPENSES
–
–
–
–
Management
fees
9,901,573
117,574
843,095
1,760,238
12b-1
service
fees
-
Class
A
474,218
28,844
175,157
79,612
12b-1
distribution
and
service
fees
-
Class
C
(1)
56,581
6,253
—
26,731
Shareholder
servicing
agent
fees
431,631
8,340
123,993
312,226
Interest
expense
2,594
115
81
238
Directors
fees
59,836
629
3,996
8,629
Custodian
expenses
157,438
9,175
28,724
32,321
Federal
and
state
registration
fees
41,340
29,093
33,910
52,718
Professional
fees
38,166
16,815
16,879
27,104
Shareholder
reporting
expenses
40,576
6,094
12,627
37,962
Other
15,350
2,134
2,943
3,525
Total
expenses
before
fee
waiver/expense
reimbursement
11,219,303
225,066
1,241,405
2,341,304
Fee
waiver/expense
reimbursement
(
532,162
)
(
55,533
)
(
102,858
)
(
191,583
)
Net
expenses
10,687,141
169,533
1,138,547
2,149,721
Net
investment
income
(loss)
29,743,401
119,969
(
490,025
)
2,899,385
REALIZED
AND
UNREALIZED
GAIN
(LOSS)
Realized
gain
(loss):
Investments
and
foreign
currency
87,596,723
919,152
2,580,652
12,424,902
Net
realized
gain
(loss)
87,596,723
919,152
2,580,652
12,424,902
Change
in
unrealized
appreciation
(depreciation)
on:
Investments
and
foreign
currency
(
85,364,918
)
1,261,983
10,178,552
(
10,056,721
)
Change
in
net
unrealized
appreciation
(depreciation)
(
85,364,918
)
1,261,983
10,178,552
(
10,056,721
)
Net
realized
and
unrealized
gain
(loss)
2,231,805
2,181,135
12,759,204
2,368,181
Net
increase
(decrease)
in
net
assets
from
operations
$
31,975,206
$
2,301,104
$
12,269,179
$
5,267,566
Statement
of
Operations
(continued)
See
Notes
to
Financial
Statements.
58
Six
Months
Ended
April
30,
2023
(Unaudited)
Small
Cap
Growth
Opportunities
Small
Cap
Select
Small
Cap
Value
INVESTMENT
INCOME
Dividends
$
345,099
$
408,031
$
4,246,159
Interest
15,613
5,906
40,894
Securities
lending
income,
net
1,720
15,095
697
Other
income
—
48,412
110,465
Tax
withheld
—
(
1,245
)
(
8,464
)
Total
investment
income
362,432
476,199
4,389,751
EXPENSES
–
–
–
Management
fees
715,840
455,384
2,106,555
12b-1
service
fees
-
Class
A
50,159
68,636
134,414
12b-1
distribution
and
service
fees
-
Class
C
(1)
—
—
98,190
Shareholder
servicing
agent
fees
142,228
81,500
327,502
Interest
expense
—
—
259
Directors
fees
3,195
2,014
9,888
Custodian
expenses
32,878
28,209
42,856
Federal
and
state
registration
fees
31,719
31,327
38,584
Professional
fees
15,945
15,158
24,278
Shareholder
reporting
expenses
33,552
12,965
59,176
Other
2,826
2,408
2,674
Total
expenses
before
fee
waiver/expense
reimbursement
1,028,342
697,601
2,844,376
Fee
waiver/expense
reimbursement
(
140,048
)
(
100,206
)
(
208,214
)
Net
expenses
888,294
597,395
2,636,162
Net
investment
income
(loss)
(
525,862
)
(
121,196
)
1,753,589
REALIZED
AND
UNREALIZED
GAIN
(LOSS)
Realized
gain
(loss):
Investments
(
5,569,498
)
(
4,403,651
)
(
733,393
)
Net
realized
gain
(loss)
(
5,569,498
)
(
4,403,651
)
(
733,393
)
Change
in
unrealized
appreciation
(depreciation)
on:
Investments
4,197,342
3,169,324
(
37,040,690
)
Change
in
net
unrealized
appreciation
(depreciation)
4,197,342
3,169,324
(
37,040,690
)
Net
realized
and
unrealized
gain
(loss)
(
1,372,156
)
(
1,234,327
)
(
37,774,083
)
Net
increase
(decrease)
in
net
assets
from
operations
$
(
1,898,018
)
$
(
1,355,523
)
$
(
36,020,494
)
(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
See
Notes
to
Financial
Statements.
59
Dividend
Value
Large
Cap
Select
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
29,743,401
$
69,609,336
$
119,969
$
245,846
Net
realized
gain
(loss)
87,596,723
244,381,236
919,152
2,102,320
Change
in
net
unrealized
appreciation
(depreciation)
(
85,364,918
)
(
403,181,046
)
1,261,983
(
9,644,270
)
Net
increase
(decrease)
in
net
assets
from
operations
31,975,206
(
89,190,474
)
2,301,104
(
7,296,104
)
DISTRIBUTIONS
TO
SHAREHOLDERS
Dividends:
Class
A
(
30,819,250
)
(
38,652,955
)
(
1,403,450
)
(
5,829,007
)
Class
C
(
919,664
)
(
1,291,414
)
(
77,615
)
(
405,648
)
Class
R6
(
197,094,198
)
(
271,012,937
)
—
—
Class
I
(
26,775,468
)
(
40,373,355
)
(
610,521
)
(
3,427,150
)
Decrease
in
net
assets
from
distributions
to
shareholders
(
255,608,580
)
(
351,330,661
)
(
2,091,586
)
(
9,661,805
)
FUND
SHARE
TRANSACTIONS
Proceeds
from
sale
of
shares
192,094,150
348,656,366
770,076
3,097,315
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
252,162,822
345,072,764
1,793,199
8,141,331
444,256,972
693,729,130
2,563,275
11,238,646
Cost
of
shares
redeemed
(
476,329,306
)
(
908,100,616
)
(
3,010,493
)
(
12,055,274
)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(
32,072,334
)
(
214,371,486
)
(
447,218
)
(
816,628
)
Net
increase
(decrease)
in
net
assets
(
255,705,708
)
(
654,892,621
)
(
237,700
)
(
17,774,537
)
Net
assets
at
the
beginning
of
period
3,364,542,948
4,019,435,569
34,343,898
52,118,435
Net
assets
at
the
end
of
period
$
3,108,837,240
$
3,364,542,948
$
34,106,198
$
34,343,898
Statement
of
Changes
in
Net
Assets
(continued)
See
Notes
to
Financial
Statements.
60
Mid
Cap
Growth
Opportunities
Mid
Cap
Value
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
(
490,025
)
$
(
1,495,483
)
$
2,899,385
$
5,367,590
Net
realized
gain
(loss)
2,580,652
(
35,366,468
)
12,424,902
27,588,605
Change
in
net
unrealized
appreciation
(depreciation)
10,178,552
(
118,055,207
)
(
10,056,721
)
(
60,525,990
)
Net
increase
(decrease)
in
net
assets
from
operations
12,269,179
(
154,917,158
)
5,267,566
(
27,569,795
)
DISTRIBUTIONS
TO
SHAREHOLDERS
Dividends:
Class
A
—
(
60,603,608
)
(
3,789,801
)
(
3,794,008
)
Class
C
(1)
—
(
2,457,931
)
(
299,981
)
(
334,190
)
Class
R6
—
(
5,449,259
)
(
2,052,356
)
(
1,362,609
)
Class
I
—
(
28,663,653
)
(
22,357,558
)
(
15,462,316
)
Decrease
in
net
assets
from
distributions
to
shareholders
—
(
97,174,451
)
(
28,499,696
)
(
20,953,123
)
FUND
SHARE
TRANSACTIONS
Proceeds
from
sale
of
shares
5,525,316
29,140,496
69,397,315
206,637,309
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
—
92,599,257
27,250,663
19,687,711
5,525,316
121,739,753
96,647,978
226,325,020
Cost
of
shares
redeemed
(
61,415,544
)
(
88,345,726
)
(
89,589,003
)
(
110,331,716
)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(
55,890,228
)
33,394,027
7,058,975
115,993,304
Net
increase
(decrease)
in
net
assets
(
43,621,049
)
(
218,697,582
)
(
16,173,155
)
67,470,386
Net
assets
at
the
beginning
of
period
235,215,886
453,913,468
471,607,611
404,137,225
Net
assets
at
the
end
of
period
$
191,594,837
$
235,215,886
$
455,434,456
$
471,607,611
Statement
of
Changes
in
Net
Assets
(continued)
See
Notes
to
Financial
Statements.
61
Small
Cap
Growth
Opportunities
Small
Cap
Select
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
(
525,862
)
$
(
1,343,581
)
$
(
121,196
)
$
103,038
Net
realized
gain
(loss)
(
5,569,498
)
(
28,540,149
)
(
4,403,651
)
(
3,451,728
)
Change
in
net
unrealized
appreciation
(depreciation)
4,197,342
(
64,383,170
)
3,169,324
(
24,623,524
)
Net
increase
(decrease)
in
net
assets
from
operations
(
1,898,018
)
(
94,266,900
)
(
1,355,523
)
(
27,972,214
)
DISTRIBUTIONS
TO
SHAREHOLDERS
Dividends:
Class
A
—
(
11,103,588
)
(
74,236
)
(
12,237,944
)
Class
C
(1)
—
(
614,013
)
—
(
404,482
)
Class
R6
—
(
99,951
)
(
15,877
)
(
311,451
)
Class
I
—
(
46,041,090
)
(
185,068
)
(
9,209,427
)
Decrease
in
net
assets
from
distributions
to
shareholders
—
(
57,858,642
)
(
275,181
)
(
22,163,304
)
FUND
SHARE
TRANSACTIONS
Proceeds
from
sale
of
shares
42,578,084
49,838,866
7,486,117
29,445,692
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
—
55,705,751
269,051
21,757,881
42,578,084
105,544,617
7,755,168
51,203,573
Cost
of
shares
redeemed
(
18,311,103
)
(
147,897,905
)
(
16,229,900
)
(
44,948,071
)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
24,266,981
(
42,353,288
)
(
8,474,732
)
6,255,502
Net
increase
(decrease)
in
net
assets
22,368,963
(
194,478,830
)
(
10,105,436
)
(
43,880,016
)
Net
assets
at
the
beginning
of
period
173,804,461
368,283,291
112,726,198
156,606,214
Net
assets
at
the
end
of
period
$
196,173,424
$
173,804,461
$
102,620,762
$
112,726,198
Statement
of
Changes
in
Net
Assets
(continued)
See
Notes
to
Financial
Statements.
62
Small
Cap
Value
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
1,753,589
$
6,078,298
Net
realized
gain
(loss)
(
733,393
)
63,890,029
Change
in
net
unrealized
appreciation
(depreciation)
(
37,040,690
)
(
109,810,592
)
Net
increase
(decrease)
in
net
assets
from
operations
(
36,020,494
)
(
39,842,265
)
DISTRIBUTIONS
TO
SHAREHOLDERS
Dividends:
Class
A
(
1,025,807
)
(
721,671
)
Class
C
(
33,832
)
(
146,017
)
Class
R6
(
1,973,745
)
(
997,125
)
Class
I
(
3,004,980
)
(
1,922,976
)
Decrease
in
net
assets
from
distributions
to
shareholders
(
6,038,364
)
(
3,787,789
)
FUND
SHARE
TRANSACTIONS
Proceeds
from
sale
of
shares
52,795,595
103,801,216
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
5,010,173
3,102,913
57,805,768
106,904,129
Cost
of
shares
redeemed
(
69,296,523
)
(
235,795,264
)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(
11,490,755
)
(
128,891,135
)
Net
increase
(decrease)
in
net
assets
(
53,549,613
)
(
172,521,189
)
Net
assets
at
the
beginning
of
period
548,577,562
721,098,751
Net
assets
at
the
end
of
period
$
495,027,949
$
548,577,562
(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.
Financial
Highlights
63
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Dividend
Value
Class
A
4/30/23(e)
$
14.12
$
0.11
$
(
0.01
)
$
0.10
$
(
0.15
)
$
(
0.96
)
$
(
1.11
)
$
13.11
10/31/22
15.97
0.24
(
0.67
)
(
0.43
)
(
0.20
)
(
1.22
)
(
1.42
)
14.12
10/31/21
11.44
0.20
4.50
4.70
(
0.17
)
—
(
0.17
)
15.97
10/31/20
14.21
0.25
(
1.98
)
(
1.73
)
(
0.23
)
(
0.81
)
(
1.04
)
11.44
10/31/19
14.32
0.26
0.96
1.22
(
0.28
)
(
1.05
)
(
1.33
)
14.21
10/31/18
15.67
0.25
0.35
0.60
(
0.24
)
(
1.71
)
(
1.95
)
14.32
Class
C
4/30/23(e)
13.80
0.05
—
0.05
(
0.10
)
(
0.96
)
(
1.06
)
12.79
10/31/22
15.63
0.12
(
0.64
)
(
0.52
)
(
0.09
)
(
1.22
)
(
1.31
)
13.80
10/31/21
11.21
0.09
4.40
4.49
(
0.07
)
—
(
0.07
)
15.63
10/31/20
13.93
0.15
(
1.92
)
(
1.77
)
(
0.14
)
(
0.81
)
(
0.95
)
11.21
10/31/19
14.06
0.16
0.93
1.09
(
0.17
)
(
1.05
)
(
1.22
)
13.93
10/31/18
15.41
0.14
0.35
0.49
(
0.13
)
(
1.71
)
(
1.84
)
14.06
Class
R6
4/30/23(e)
14.47
0.13
(
0.01
)
0.12
(
0.18
)
(
0.96
)
(
1.14
)
13.45
10/31/22
16.34
0.29
(
0.68
)
(
0.39
)
(
0.26
)
(
1.22
)
(
1.48
)
14.47
10/31/21
11.72
0.26
4.60
4.86
(
0.24
)
—
(
0.24
)
16.34
10/31/20
14.54
0.30
(
2.02
)
(
1.72
)
(
0.29
)
(
0.81
)
(
1.10
)
11.72
10/31/19
14.61
0.32
0.99
1.31
(
0.33
)
(
1.05
)
(
1.38
)
14.54
10/31/18
15.93
0.32
0.36
0.68
(
0.29
)
(
1.71
)
(
2.00
)
14.61
Class
I
4/30/23(e)
14.34
0.12
(
0.01
)
0.11
(
0.17
)
(
0.96
)
(
1.13
)
13.32
10/31/22
16.20
0.27
(
0.67
)
(
0.40
)
(
0.24
)
(
1.22
)
(
1.46
)
14.34
10/31/21
11.61
0.24
4.57
4.81
(
0.22
)
—
(
0.22
)
16.20
10/31/20
14.42
0.28
(
2.01
)
(
1.73
)
(
0.27
)
(
0.81
)
(
1.08
)
11.61
10/31/19
14.51
0.30
0.98
1.28
(
0.32
)
(
1.05
)
(
1.37
)
14.42
10/31/18
15.85
0.30
0.36
0.66
(
0.29
)
(
1.71
)
(
2.00
)
14.51
(a)
Based
on
average
shares
outstanding.
(b)
Percentage
is
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
the
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Unaudited.
(f)
Annualized.
See
Notes
to
Financial
Statements.
64
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
0
.67
%
$
368,570
0
.99
%
(f)
0
.96
%
(f)
1
.58
%
(f)
43
%
(
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
0
.35
10,244
1
.75
(f)
1
.71
(f)
0
.83
(f)
43
(
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
0
.87
2,424,024
0
.65
(f)
0
.61
(f)
1
.91
(f)
43
(
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
0
.81
305,999
0
.74
(f)
0
.71
(f)
1
.83
(f)
43
(
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
65
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Large
Cap
Select
Class
A
4/30/23(e)
$
31.11
$
0.10
$
1.94
$
2.04
$
(
0.21
)
$
(
1.67
)
$
(
1.88
)
$
31.27
10/31/22
45.19
0.19
(
5.82
)
(
5.63
)
(
0.10
)
(
8.35
)
(
8.45
)
31.11
10/31/21
32.12
0.07
13.28
13.35
(
0.17
)
(
0.11
)
(
0.28
)
45.19
10/31/20
30.71
0.17
1.61
1.78
(
0.37
)
—
(
0.37
)
32.12
10/31/19
28.87
0.21
2.72
2.93
(
0.10
)
(
0.99
)
(
1.09
)
30.71
10/31/18
27.50
0.12
1.38
1.50
(
0.13
)
—
(
0.13
)
28.87
Class
C
4/30/23(e)
27.75
(
0.01
)
1.73
1.72
—
(
1.67
)
(
1.67
)
27.80
10/31/22
41.45
(
0.06
)
(
5.20
)
(
5.26
)
(
0.09
)
(
8.35
)
(
8.44
)
27.75
10/31/21
29.56
(
0.21
)
12.21
12.00
—
(
0.11
)
(
0.11
)
41.45
10/31/20
28.28
(
0.06
)
1.47
1.41
(
0.13
)
—
(
0.13
)
29.56
10/31/19
26.77
(
—
)
(g)
2.50
2.50
—
(
0.99
)
(
0.99
)
28.28
10/31/18
25.57
(
0.10
)
1.30
1.20
—
—
—
26.77
Class
I
4/30/23(e)
31.55
0.14
1.97
2.11
(
0.30
)
(
1.67
)
(
1.97
)
31.69
10/31/22
45.61
0.26
(
5.87
)
(
5.61
)
(
0.10
)
(
8.35
)
(
8.45
)
31.55
10/31/21
32.41
0.18
13.38
13.56
(
0.25
)
(
0.11
)
(
0.36
)
45.61
10/31/20
30.98
0.25
1.62
1.87
(
0.44
)
—
(
0.44
)
32.41
10/31/19
29.13
0.28
2.73
3.01
(
0.17
)
(
0.99
)
(
1.16
)
30.98
10/31/18
27.74
0.19
1.40
1.59
(
0.20
)
—
(
0.20
)
29.13
(a)
Based
on
average
shares
outstanding.
(b)
Percentage
is
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Unaudited.
(f)
Annualized.
(g)
Value
rounded
to
zero.
See
Notes
to
Financial
Statements.
66
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
7
.05
%
$
23,912
1
.38
%
(f)
1
.05
%
(f)
0
.67
%
(f)
41
%
(
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
6
.66
1,272
2
.13
(f)
1
.80
(f)
(
0
.07
)
(f)
41
(
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
7
.15
8,923
1
.13
(f)
0
.80
(f)
0
.93
(f)
41
(
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
67
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Mid
Cap
Growth
Opportunities
Class
A
4/30/23(e)
$
19.43
$
(
0.06
)
$
1.21
$
1.15
$
—
$
—
$
—
$
20.58
10/31/22
41.71
(
0.14
)
(
11.98
)
(
12.12
)
—
(
10.16
)
(
10.16
)
19.43
10/31/21
34.24
(
0.32
)
12.82
12.50
—
(
5.03
)
(
5.03
)
41.71
10/31/20
33.66
(
0.09
)
8.01
7.92
—
(
7.34
)
(
7.34
)
34.24
10/31/19
36.79
(
0.12
)
3.48
3.36
—
(
6.49
)
(
6.49
)
33.66
10/31/18
43.45
(
0.20
)
1.16
0.96
—
(
7.62
)
(
7.62
)
36.79
Class
R6
4/30/23(e)
30.52
(
0.03
)
1.91
1.88
—
—
—
32.40
10/31/22
58.90
(
0.09
)
(
18.13
)
(
18.22
)
—
(
10.16
)
(
10.16
)
30.52
10/31/21
46.46
(
0.27
)
17.74
17.47
—
(
5.03
)
(
5.03
)
58.90
10/31/20
43.07
0.03
10.70
10.73
—
(
7.34
)
(
7.34
)
46.46
10/31/19
44.94
0.01
4.61
4.62
—
(
6.49
)
(
6.49
)
43.07
10/31/18
51.24
(
0.05
)
1.37
1.32
—
(
7.62
)
(
7.62
)
44.94
Class
I
4/30/23(e)
29.75
(
0.05
)
1.86
1.81
—
—
—
31.56
10/31/22
57.74
(
0.13
)
(
17.70
)
(
17.83
)
—
(
10.16
)
(
10.16
)
29.75
10/31/21
45.67
(
0.31
)
17.41
17.10
—
(
5.03
)
(
5.03
)
57.74
10/31/20
42.49
(
0.01
)
10.53
10.52
—
(
7.34
)
(
7.34
)
45.67
10/31/19
44.49
(
0.05
)
4.54
4.49
—
(
6.49
)
(
6.49
)
42.49
10/31/18
50.85
(
0.12
)
1.38
1.26
—
(
7.62
)
(
7.62
)
44.49
(a)
Based
on
average
shares
outstanding.
(b)
Percentage
is
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Unaudited.
(f)
Annualized.
See
Notes
to
Financial
Statements.
68
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
5
.92
%
$
139,230
1
.27
%
(f)
1
.17
%
(f)
(
0
.56
)
%
(f)
35
%
(
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
6
.16
3,154
0
.92
(f)
0
.82
(f)
(
0
.20
)
(f)
35
(
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
6
.08
49,210
1
.01
(f)
0
.91
(f)
(
0
.30
)
(f)
35
(
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
69
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Mid
Cap
Value
Class
A
4/30/23(e)
$
50.13
$
0.26
$
0.19
$
0.45
$
(
0.53
)
$
(
2.42
)
$
(
2.95
)
$
47.63
10/31/22
56.38
0.54
(
3.88
)
(
3.34
)
(
0.35
)
(
2.56
)
(
2.91
)
50.13
10/31/21
36.53
0.29
20.01
20.30
(
0.45
)
—
(
0.45
)
56.38
10/31/20
41.07
0.43
(
4.59
)
(
4.16
)
(
0.38
)
—
(
0.38
)
36.53
10/31/19
38.91
0.40
3.29
3.69
(
0.09
)
(
1.44
)
(
1.53
)
41.07
10/31/18
42.32
0.29
(
0.46
)
(
0.17
)
(
0.26
)
(
2.98
)
(
3.24
)
38.91
Class
C
4/30/23(e)
46.38
0.07
0.19
0.26
(
0.13
)
(
2.42
)
(
2.55
)
44.09
10/31/22
52.74
0.14
(
3.62
)
(
3.48
)
(
0.32
)
(
2.56
)
(
2.88
)
46.38
10/31/21
34.21
(
0.09
)
18.79
18.70
(
0.17
)
—
(
0.17
)
52.74
10/31/20
38.49
0.14
(
4.34
)
(
4.20
)
(
0.08
)
—
(
0.08
)
34.21
10/31/19
36.73
0.11
3.09
3.20
—
(
1.44
)
(
1.44
)
38.49
10/31/18
40.17
(
—
)
(g)
(
0.46
)
(
0.46
)
—
(
2.98
)
(
2.98
)
36.73
Class
R6
4/30/23(e)
50.71
0.35
0.20
0.55
(
0.75
)
(
2.42
)
(
3.17
)
48.09
10/31/22
56.81
0.74
(
3.93
)
(
3.19
)
(
0.35
)
(
2.56
)
(
2.91
)
50.71
10/31/21
36.78
0.49
20.13
20.62
(
0.59
)
—
(
0.59
)
56.81
10/31/20
41.32
0.57
(
4.59
)
(
4.02
)
(
0.52
)
—
(
0.52
)
36.78
10/31/19
39.10
0.55
3.30
3.85
(
0.19
)
(
1.44
)
(
1.63
)
41.32
10/31/18
42.86
0.11
(
3.87
)
(
3.76
)
—
—
—
39.10
Class
I
4/30/23(e)
50.49
0.32
0.19
0.51
(
0.66
)
(
2.42
)
(
3.08
)
47.92
10/31/22
56.64
0.68
(
3.92
)
(
3.24
)
(
0.35
)
(
2.56
)
(
2.91
)
50.49
10/31/21
36.69
0.41
20.09
20.50
(
0.55
)
—
(
0.55
)
56.64
10/31/20
41.24
0.52
(
4.59
)
(
4.07
)
(
0.48
)
—
(
0.48
)
36.69
10/31/19
39.08
0.51
3.28
3.79
(
0.19
)
(
1.44
)
(
1.63
)
41.24
10/31/18
42.49
0.40
(
0.47
)
(
0.07
)
(
0.36
)
(
2.98
)
(
3.34
)
39.08
(a)
Based
on
average
shares
outstanding.
(b)
Percentage
is
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
the
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Unaudited.
(f)
Annualized.
(g)
Value
rounded
to
zero.
See
Notes
to
Financial
Statements.
70
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
0
.98
%
$
63,402
1
.24
%
(f)
1
.15
%
(f)
1
.06
%
(f)
20
%
(
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
0
.63
5,059
1
.99
(f)
1
.91
(f)
0
.33
(f)
20
(
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
—
(g)
49
1
.18
33,463
0
.85
(f)
0
.76
(f)
1
.43
(f)
20
(
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
(f)
0
.79
(f)
0
.71
(f)
49
1
.11
353,510
0
.99
(f)
0
.90
(f)
1
.31
(f)
20
(
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
71
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Small
Cap
Growth
Opportunities
Class
A
4/30/23(e)
$
20.05
$
(
0.08
)
$
(
0.04
)
$
(
0.12
)
$
—
$
—
$
—
$
19.93
10/31/22
34.74
(
0.16
)
(
8.03
)
(
8.19
)
—
(
6.50
)
(
6.50
)
20.05
10/31/21
27.35
(
0.28
)
11.44
11.16
(
0.01
)
(
3.76
)
(
3.77
)
34.74
10/31/20
20.96
(
0.18
)
6.57
6.39
—
—
—
27.35
10/31/19
23.54
(
0.14
)
0.84
0.70
—
(
3.28
)
(
3.28
)
20.96
10/31/18
24.78
(
0.17
)
1.94
1.77
—
(
3.01
)
(
3.01
)
23.54
Class
R6
4/30/23(e)
26.71
(
0.05
)
(
0.06
)
(
0.11
)
—
—
—
26.60
10/31/22
43.84
(
0.09
)
(
10.54
)
(
10.63
)
—
(
6.50
)
(
6.50
)
26.71
10/31/21
33.69
(
0.15
)
14.22
14.07
(
0.16
)
(
3.76
)
(
3.92
)
43.84
10/31/20
25.69
(
0.07
)
8.07
8.00
—
—
—
33.69
10/31/19
27.88
(
0.05
)
1.14
1.09
—
(
3.28
)
(
3.28
)
25.69
10/31/18
28.72
(
0.10
)
2.27
2.17
—
(
3.01
)
(
3.01
)
27.88
Class
I
4/30/23(e)
26.34
(
0.07
)
(
0.05
)
(
0.12
)
—
—
—
26.22
10/31/22
43.39
(
0.15
)
(
10.40
)
(
10.55
)
—
(
6.50
)
(
6.50
)
26.34
10/31/21
33.38
(
0.25
)
14.11
13.86
(
0.09
)
(
3.76
)
(
3.85
)
43.39
10/31/20
25.51
(
0.14
)
8.01
7.87
—
—
—
33.38
10/31/19
27.79
(
0.10
)
1.10
1.00
—
(
3.28
)
(
3.28
)
25.51
10/31/18
28.66
(
0.13
)
2.27
2.14
—
(
3.01
)
(
3.01
)
27.79
(a)
Based
on
average
shares
outstanding.
(b)
Percentage
is
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Unaudited.
(f)
Annualized.
See
Notes
to
Financial
Statements.
72
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
(
0
.60
)
%
$
39,115
1
.39
%
(f)
1
.23
%
(f)
(
0
.80
)
%
(f)
24
%
(
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
(
0
.41
)
664
0
.99
(f)
0
.82
(f)
(
0
.38
)
(f)
24
(
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
(
0
.46
)
156,394
1
.14
(f)
0
.98
(f)
(
0
.56
)
(f)
24
(
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
73
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Small
Cap
Select
Class
A
4/30/23(e)
$
8.17
$
(
0.01
)
$
(
0.11
)
$
(
0.12
)
$
(
0.01
)
$
—
$
(
0.01
)
$
8.04
10/31/22
11.89
(
—
)
(g)
(
1.83
)
(
1.83
)
—
(
1.89
)
(
1.89
)
8.17
10/31/21
7.83
(
0.03
)
4.23
4.20
(
—
)
(g)
(
0.14
)
(
0.14
)
11.89
10/31/20
7.71
(
—
)
(g)
0.13
0.13
(
0.01
)
—
(
0.01
)
7.83
10/31/19
9.26
(
—
)
(g)
0.28
0.28
(
—
)
(g)
(
1.83
)
(
1.83
)
7.71
10/31/18
10.13
(
0.01
)
0.35
0.34
—
(
1.21
)
(
1.21
)
9.26
Class
R6
4/30/23(e)
11.80
(
—
)
(g)
(
0.15
)
(
0.15
)
(
0.06
)
—
(
0.06
)
11.59
10/31/22
16.26
0.04
(
2.61
)
(
2.57
)
—
(
1.89
)
(
1.89
)
11.80
10/31/21
10.66
0.01
5.77
5.78
(
0.04
)
(
0.14
)
(
0.18
)
16.26
10/31/20
10.49
0.03
0.20
0.23
(
0.06
)
—
(
0.06
)
10.66
10/31/19
11.87
0.04
0.44
0.48
(
0.03
)
(
1.83
)
(
1.86
)
10.49
10/31/18
11.82
0.02
0.03
0.05
—
—
—
11.87
Class
I
4/30/23(e)
11.75
(
0.01
)
(
0.14
)
(
0.15
)
(
0.05
)
—
(
0.05
)
11.55
10/31/22
16.21
0.03
(
2.60
)
(
2.57
)
—
(
1.89
)
(
1.89
)
11.75
10/31/21
10.63
(
0.01
)
5.76
5.75
(
0.03
)
(
0.14
)
(
0.17
)
16.21
10/31/20
10.46
0.02
0.19
0.21
(
0.04
)
—
(
0.04
)
10.63
10/31/19
11.85
0.03
0.44
0.47
(
0.03
)
(
1.83
)
(
1.86
)
10.46
10/31/18
12.60
0.03
0.43
0.46
—
(
1.21
)
(
1.21
)
11.85
(a)
Based
on
average
shares
outstanding.
(b)
Percentage
is
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Unaudited.
(f)
Annualized.
(g)
Value
rounded
to
zero.
See
Notes
to
Financial
Statements.
74
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
(
1
.46
)
%
$
52,382
1
.43
%
(f)
1
.24
%
(f)
(
0
.35
)
%
(f)
18
%
(
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
(
1
.26
)
3,203
1
.06
(f)
0
.87
(f)
(
0
.02
)
(f)
18
(
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
(f)
0
.85
(f)
0
.24
(f)
95
(
1
.31
)
47,037
1
.18
(f)
0
.99
(f)
(
0
.10
)
(f)
18
(
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
75
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Small
Cap
Value
Class
A
4/30/23(e)
$
26.52
$
0.06
$
(
1.85
)
$
(
1.79
)
$
(
0.24
)
$
—
$
(
0.24
)
$
24.49
10/31/22
28.36
0.21
(
1.90
)
(
1.69
)
(
0.15
)
—
(
0.15
)
26.52
10/31/21
17.30
0.04
11.09
11.13
(
0.07
)
—
(
0.07
)
28.36
10/31/20
22.19
0.09
(
4.77
)
(
4.68
)
(
0.21
)
—
(
0.21
)
17.30
10/31/19
22.96
0.18
(
0.17
)
0.01
(
0.13
)
(
0.65
)
(
0.78
)
22.19
10/31/18
25.19
0.12
(
2.15
)
(
2.03
)
(
0.10
)
(
0.10
)
(
0.20
)
22.96
Class
C
4/30/23(e)
21.99
(
0.03
)
(
1.53
)
(
1.56
)
(
0.04
)
—
(
0.04
)
20.39
10/31/22
23.68
—
(g)
(
1.56
)
(
1.56
)
(
0.13
)
—
(
0.13
)
21.99
10/31/21
14.51
(
0.13
)
9.30
9.17
—
—
—
23.68
10/31/20
18.62
(
0.04
)
(
4.03
)
(
4.07
)
(
0.04
)
—
(
0.04
)
14.51
10/31/19
19.39
0.01
(
0.13
)
(
0.12
)
—
(
0.65
)
(
0.65
)
18.62
10/31/18
21.36
(
0.06
)
(
1.81
)
(
1.87
)
—
(
0.10
)
(
0.10
)
19.39
Class
R6
4/30/23(e)
27.75
0.12
(
1.94
)
(
1.82
)
(
0.36
)
—
(
0.36
)
25.57
10/31/22
29.55
0.33
(
1.97
)
(
1.64
)
(
0.16
)
—
(
0.16
)
27.75
10/31/21
18.02
0.12
11.57
11.69
(
0.16
)
—
(
0.16
)
29.55
10/31/20
23.09
0.15
(
4.93
)
(
4.78
)
(
0.29
)
—
(
0.29
)
18.02
10/31/19
23.83
0.29
(
0.18
)
0.11
(
0.20
)
(
0.65
)
(
0.85
)
23.09
10/31/18
26.09
0.23
(
2.22
)
(
1.99
)
(
0.17
)
(
0.10
)
(
0.27
)
23.83
Class
I
4/30/23(e)
27.57
0.09
(
1.91
)
(
1.82
)
(
0.32
)
—
(
0.32
)
25.43
10/31/22
29.41
0.29
(
1.97
)
(
1.68
)
(
0.16
)
—
(
0.16
)
27.57
10/31/21
17.93
0.11
11.49
11.60
(
0.12
)
—
(
0.12
)
29.41
10/31/20
23.00
0.16
(
4.96
)
(
4.80
)
(
0.27
)
—
(
0.27
)
17.93
10/31/19
23.79
0.24
(
0.18
)
0.06
(
0.20
)
(
0.65
)
(
0.85
)
23.00
10/31/18
26.09
0.19
(
2.22
)
(
2.03
)
(
0.17
)
(
0.10
)
(
0.27
)
23.79
(a)
Based
on
average
shares
outstanding.
(b)
Percentage
is
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
the
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Unaudited.
(f)
Annualized.
(g)
Value
rounded
to
zero.
See
Notes
to
Financial
Statements.
76
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
(
6
.72
)
%
$
99,683
1
.29
%
(f)
1
.21
%
(f)
0
.47
%
(f)
19
%
(
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
(
7
.07
)
17,302
2
.04
(f)
1
.96
(f)
(
0
.26
)
(f)
19
(
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
(
6
.55
)
139,774
0
.88
(f)
0
.80
(f)
0
.86
(f)
19
(
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
(
6
.63
)
238,268
1
.03
(f)
0
.96
(f)
0
.71
(f)
19
(
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
Notes
to
Financial
Statements
(Unaudited)
77
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
April
30,
2023,
and
the
period
covered
by
these
Notes
to
Financial
Statements
is
the
six
months
ended
April
30,
2023
(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.
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
R6
Shares
and
Class
I
Shares
are
sold
without
an
upfront
sales
charge.
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
common
share
transactions
through
the
date
of
the
report.
Total
return
is
computed
based
on
the
NAV
used
for
processing
security
and
common
share
transactions.
The
following
is
a
summary
of
the
significant
accounting
policies
consistently
followed
by
the
Funds.
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.
78
Notes
to
Financial
Statements
(Unaudited)
(continued)
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.
With
respect
to
certain
counterparties,
in
accordance
with
the
terms
of
the
netting
agreements,
collateral
posted
to
the
Funds
is
held
in
a
segregated
account
by
the
Funds’
custodian
and/or
with
respect
to
those
amounts
which
can
be
sold
or
repledged,
are
presented
in
the
Funds’
Portfolio
of
Investments
or
Statements
of
Assets
and
Liabilities.
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.
New
Accounting
Pronouncement:
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.
In
December
2022,
FASB
deferred
ASU
2022-04
and
issued
ASU
2022-06,
Reference
Rate
Reform:
Deferral
of
the
Sunset
Date
of
Topic
848,
which
extends
the
application
of
the
amendments
through
December
31,
2024. 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
Accounting
Pronouncement:
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.).
79
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
pricing
services and
are
generally
classified
as
Level
1
or
2.
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
$
3,077,632,129
$
–
$
–
$
3,077,632,129
Short-Term
Investments:
Repurchase
Agreements
–
22,494,415
–
22,494,415
Total
$
3,077,632,129
$
22,494,415
$
–
$
3,100,126,544
1
Large
Cap
Select
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
33,869,296
$
–
$
–
$
33,869,296
Short-Term
Investments:
Repurchase
Agreements
–
113,653
–
113,653
Total
$
33,869,296
$
113,653
$
–
$
33,982,949
1
Mid
Cap
Growth
Opportunities
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
188,878,715
$
–
$
–
$
188,878,715
Investments
Purchased
with
Collateral
from
Securities
Lending
3,801,223
–
–
3,801,223
Short-Term
Investments:
Repurchase
Agreements
–
3,264,270
–
3,264,270
Total
$
192,679,938
$
3,264,270
$
–
$
195,944,208
1
80
Notes
to
Financial
Statements
(Unaudited)
(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.
Mid
Cap
Value
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
449,441,790
$
–
$
–
$
449,441,790
Investments
Purchased
with
Collateral
from
Securities
Lending
2,592,762
–
–
2,592,762
Short-Term
Investments:
Repurchase
Agreements
–
5,878,480
–
5,878,480
Total
$
452,034,552
$
5,878,480
$
–
$
457,913,032
1
Small
Cap
Growth
Opportunities
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
193,034,242
$
–
$
591*
$
193,034,833
Short-Term
Investments:
Repurchase
Agreements
–
3,468,644
–
3,468,644
Total
$
193,034,242
$
3,468,644
$
591
$
196,503,477
1
Small
Cap
Select
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
100,604,167
$
–
$
–
$
100,604,167
Exchange-Traded
Funds
1,429,244
–
–
1,429,244
Investments
Purchased
with
Collateral
from
Securities
Lending
2,481,931
–
–
2,481,931
Short-Term
Investments:
Repurchase
Agreements
–
973,103
–
973,103
Total
$
104,515,342
$
973,103
$
–
$
105,488,445
1
Small
Cap
Value
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
491,228,985
$
–
$
–
$
491,228,985
Short-Term
Investments:
Repurchase
Agreements
–
5,762,616
–
5,762,616
Total
$
491,228,985
$
5,762,616
$
–
$
496,991,601
1
*
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
Fixed
Income
Clearing
Corporation
$22,494,415
$22,944,328
Large
Cap
Select
Fixed
Income
Clearing
Corporation
113,653
115,951
Mid
Cap
Growth
Opportunities
Fixed
Income
Clearing
Corporation
3,264,270
3,329,557
Mid
Cap
Value
Fixed
Income
Clearing
Corporation
5,878,480
5,996,056
Small
Cap
Growth
Opportunities
Fixed
Income
Clearing
Corporation
3,468,644
3,538,049
Small
Cap
Select
Fixed
Income
Clearing
Corporation
973,103
992,622
Small
Cap
Value
Fixed
Income
Clearing
Corporation
5,762,616
5,877,911
81
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, a
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.
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:
Purchases
&
Sales:
Long-term
purchases
and
sales
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.
Fund
Asset
Class
out
on
Loan
Long-Term
Investments,
at
Value
Total
Collateral
Received
Mid
Cap
Growth
Opportunities
Common
Stock
$3,573,447
$3,801,223
Mid
Cap
Value
Common
Stock
$2,567,512
$2,592,762
Small
Cap
Select
Exchange-Traded
Funds
1,414,648
1,431,057
Common
Stock
1,036,862
1,050,874
Total
$2,451,510
$2,481,931
Fund
Purchases
Sales
Dividend
Value
$
1,367,613,384
$
1,628,276,301
Large
Cap
Select
13,861,854
16,371,830
Mid
Cap
Growth
Opportunities
74,379,348
129,310,486
Mid
Cap
Value
90,784,251
99,483,885
Small
Cap
Growth
Opportunities
64,994,848
42,474,895
Small
Cap
Select
19,700,315
28,405,024
Small
Cap
Value
101,511,665
114,055,802
82
Notes
to
Financial
Statements
(Unaudited)
(continued)
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
pre-determined
threshold
amount.
5.
Fund
Shares
Transactions
in Fund
shares
during
the
current
and
prior
fiscal
period
were
as
follows:
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Dividend
Value
Shares
Amount
Shares
Amount
Subscriptions:
Class
A
687,970
$9,247,508
1,677,886
$24,407,093
Class
A
-
automatic
conversion
of
Class
C
873
12,336
1,426
20,987
Class
C
73,353
992,382
125,518
1,770,067
Class
R6
12,587,095
173,839,855
21,388,133
305,486,916
Class
I
579,659
8,002,068
1,142,225
16,971,303
Total
subscriptions
13,928,950
192,094,149
24,335,188
348,656,366
Reinvestments
of
distributions:
Class
A
2,123,631
28,395,948
2,381,492
35,373,973
Class
C
69,258
905,083
86,804
1,266,479
Class
R6
14,376,054
197,086,535
17,832,052
271,006,221
Class
I
1,897,221
25,775,256
2,480,518
37,426,091
Total
reinvestments
of
distributions
18,466,164
252,162,822
22,780,866
345,072,764
Redemptions:
Class
A
(2,315,975)
(31,280,920)
(3,622,494)
(51,905,145)
Class
C
(204,935)
(2,701,350)
(393,109)
(5,616,281)
Class
C
-
automatic
conversion
to
Class
A
(893)
(12,336)
(1,459)
(20,987)
Class
R6
(27,771,480)
(395,802,117)
(48,095,477)
(723,213,381)
Class
I
(3,387,578)
(46,532,583)
(8,574,049)
(127,344,822)
Total
redemptions
(33,680,861)
(476,329,306)
(60,686,588)
(908,100,616)
Net
increase
(decrease)
(1,285,747)
$(32,072,335)
(13,570,534)
$(214,371,486)
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Large
Cap
Select
Shares
Amount
Shares
Amount
Subscriptions:
Class
A
18,093
$550,052
49,150
$1,619,287
Class
A
-
automatic
conversion
of
Class
C
35
1,080
197
6,536
Class
C
2,104
57,352
20,385
694,985
Class
I
5,115
161,592
22,471
776,507
Total
subscriptions
25,347
770,076
92,203
3,097,315
Reinvestments
of
distributions:
Class
A
45,851
1,348,903
149,832
5,603,128
Class
C
2,958
77,615
12,082
405,648
Class
I
12,307
366,681
56,363
2,132,555
Total
reinvestments
of
distributions
61,116
1,793,199
218,277
8,141,331
Redemptions:
Class
A
(43,609)
(1,328,680)
(156,938)
(5,322,325)
Class
C
(7,332)
(198,042)
(27,354)
(827,900)
Class
C
-
automatic
conversion
to
Class
A
(39)
(1,080)
(220)
(6,536)
Class
I
(48,155)
(1,482,691)
(174,384)
(5,898,513)
Total
redemptions
(99,135)
(3,010,493)
(358,896)
(12,055,274)
Net
increase
(decrease)
(12,672)
$(447,218)
(48,416)
$(816,628)
83
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Mid
Cap
Growth
Opportunities
Shares
Amount
Shares
Amount
Subscriptions:
Class
A
98,911
$2,003,168
418,152
$9,664,057
Class
A
-
automatic
conversion
of
Class
C
—
—
136,751
2,854,115
Class
C
(1)
—
—
55,894
755,281
Class
R6
7,968
252,774
86,190
3,276,982
Class
I
104,743
3,269,374
347,618
12,590,061
Total
subscriptions
211,622
5,525,316
1,044,605
29,140,496
Reinvestments
of
distributions:
Class
A
—
—
2,194,153
59,834,565
Class
C
(1)
—
—
285,143
2,457,931
Class
R6
—
—
127,557
5,449,259
Class
I
—
—
596,532
24,857,502
Total
reinvestments
of
distributions
—
—
3,203,385
92,599,257
Redemptions:
Class
A
(686,613)
(13,782,819)
(1,451,373)
(34,008,243)
Class
C
(1)
—
—
(126,013)
(970,955)
Class
C
-
automatic
conversion
to
Class
A
—
—
(434,837)
(2,854,115)
Class
R6
(595,307)
(19,133,206)
(71,412)
(2,802,730)
Class
I
(947,993)
(28,499,519)
(1,395,784)
(47,709,683)
Total
redemptions
(2,229,913)
(61,415,544)
(3,479,419)
(88,345,726)
Net
increase
(decrease)
(2,018,291)
$(55,890,228)
768,571
$33,394,027
(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.
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Mid
Cap
Value
Shares
Amount
Shares
Amount
Subscriptions:
Class
A
93,571
$4,574,371
190,479
$10,130,081
Class
A
-
automatic
conversion
of
Class
C
—
—
6
336
Class
C
4,716
214,329
17,439
868,030
Class
R6
155,040
7,657,436
414,141
21,010,312
Class
I
1,160,244
56,951,179
3,323,755
174,628,550
Total
subscriptions
1,413,571
69,397,315
3,945,820
206,637,309
Reinvestments
of
distributions:
Class
A
76,911
3,666,455
67,987
3,692,139
Class
C
6,781
299,981
6,608
334,190
Class
R6
42,594
2,048,372
24,810
1,358,844
Class
I
442,983
21,235,855
262,023
14,302,538
Total
reinvestments
of
distributions
569,269
27,250,663
361,428
19,687,711
Redemptions:
Class
A
(115,977)
(5,633,780)
(286,628)
(15,261,090)
Class
C
(16,434)
(740,197)
(18,610)
(911,546)
Class
C
-
automatic
conversion
to
Class
A
—
—
(7)
(336)
Class
R6
(140,416)
(6,880,944)
(261,347)
(13,294,251)
Class
I
(1,548,501)
(76,334,082)
(1,531,332)
(80,864,493)
Total
redemptions
(1,821,328)
(89,589,003)
(2,097,924)
(110,331,716)
Net
increase
(decrease)
161,512
$7,058,975
2,209,324
$115,993,304
84
Notes
to
Financial
Statements
(Unaudited)
(continued)
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Small
Cap
Growth
Opportunities
Shares
Amount
Shares
Amount
Subscriptions:
Class
A
124,924
$2,531,522
201,812
$4,617,821
Class
A
-
automatic
conversion
of
Class
C
—
—
61,822
1,289,612
Class
C
(1)
—
—
15,482
228,492
Class
R6
7,304
196,742
22,736
666,519
Class
I
1,471,921
39,849,820
1,340,651
43,036,422
Total
subscriptions
1,604,149
42,578,084
1,642,503
49,838,866
Reinvestments
of
distributions:
Class
A
—
—
413,405
10,880,846
Class
C
(1)
—
—
39,478
609,145
Class
R6
—
—
2,725
95,210
Class
I
—
—
1,278,486
44,120,550
Total
reinvestments
of
distributions
—
—
1,734,094
55,705,751
Redemptions:
Class
A
(215,132)
(4,322,338)
(348,346)
(8,049,911)
Class
C
(1)
—
—
(45,651)
(626,794)
Class
C
-
automatic
conversion
to
Class
A
—
—
(106,053)
(1,289,612)
Class
R6
(6,442)
(176,707)
(14,810)
(423,452)
Class
I
(517,932)
(13,812,058)
(4,649,351)
(137,508,136)
Total
redemptions
(739,506)
(18,311,103)
(5,164,211)
(147,897,905)
Net
increase
(decrease)
864,643
$24,266,981
(1,787,614)
$(42,353,288)
(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.
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Small
Cap
Select
Shares
Amount
Shares
Amount
Subscriptions:
Class
A
150,974
$1,238,648
476,502
$4,346,382
Class
A
-
automatic
conversion
of
Class
C
—
—
108,534
923,644
Class
C
(1)
—
—
23,215
116,814
Class
R6
51,389
607,083
133,545
1,622,172
Class
I
475,690
5,640,386
1,645,333
22,436,680
Total
subscriptions
678,053
7,486,117
2,387,129
29,445,692
Reinvestments
of
distributions:
Class
A
9,202
73,152
1,256,268
12,110,428
Class
C
(1)
—
—
96,077
404,482
Class
R6
1,387
15,877
22,439
311,451
Class
I
15,778
180,022
645,341
8,931,520
Total
reinvestments
of
distributions
26,367
269,051
2,020,125
21,757,881
Redemptions:
Class
A
(559,672)
(4,583,982)
(1,491,425)
(13,298,199)
Class
C
(1)
—
—
(74,347)
(290,632)
Class
C
-
automatic
conversion
to
Class
A
—
—
(249,625)
(923,644)
Class
R6
(42,116)
(497,802)
(62,042)
(796,004)
Class
I
(939,638)
(11,148,116)
(2,363,873)
(29,639,592)
Total
redemptions
(1,541,426)
(16,229,900)
(4,241,312)
(44,948,071)
Net
increase
(decrease)
(837,006)
$(8,474,732)
165,942
$6,255,502
(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.
85
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.
As
of
the
end
of
the
reporting
period,
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
prior
fiscal
period
end,
the
components
of
accumulated
earnings
on
a
tax
basis
were
as
follows:
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Small
Cap
Value
Shares
Amount
Shares
Amount
Subscriptions:
Class
A
235,554
$6,064,436
695,459
$19,217,263
Class
A
-
automatic
conversion
of
Class
C
151
6,564
17
439
Class
C
14,270
311,043
42,722
976,016
Class
R6
506,591
13,764,948
1,270,494
36,527,584
Class
I
1,194,127
32,648,604
1,661,816
47,079,914
Total
subscriptions
1,950,693
52,795,595
3,670,508
103,801,216
Reinvestments
of
distributions:
Class
A
33,205
837,772
20,733
601,678
Class
C
1,539
32,398
5,539
134,101
Class
R6
60,916
1,602,085
25,680
777,085
Class
I
96,978
2,537,918
52,826
1,590,049
Total
reinvestments
of
distributions
192,638
5,010,173
104,778
3,102,913
Redemptions:
Class
A
(467,950)
(12,109,452)
(1,334,347)
(36,491,824)
Class
C
(149,071)
(3,190,995)
(269,603)
(6,094,990)
Class
C
-
automatic
conversion
to
Class
A
(181)
(6,564)
(21)
(439)
Class
R6
(585,550)
(15,896,290)
(1,999,133)
(57,203,057)
Class
I
(1,407,221)
(38,093,222)
(4,850,255)
(136,004,954)
Total
redemptions
(2,609,973)
(69,296,523)
(8,453,359)
(235,795,264)
Net
increase
(decrease)
(466,642)
$(11,490,755)
(4,678,073)
$(128,891,135)
Fund
Tax
Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net
Unrealized
Appreciation
(Depreciation)
Dividend
Value
$
2,881,475,752
$
383,734,813
$
(165,084,021)
$
218,650,792
Large
Cap
Select
29,497,116
5,706,196
(1,220,363)
4,485,833
Mid
Cap
Growth
Opportunities
181,335,481
31,666,512
(17,057,785)
14,608,727
Mid
Cap
Value
397,675,995
78,059,284
(17,822,247)
60,237,037
Small
Cap
Growth
Opportunities
178,507,558
32,084,297
(14,088,378)
17,995,919
Small
Cap
Select
92,892,983
19,041,314
(6,445,852)
12,595,462
Small
Cap
Value
459,604,386
85,008,702
(47,621,487)
37,387,215
86
Notes
to
Financial
Statements
(Unaudited)
(continued)
As
of
prior
fiscal
period
end,
the
Funds
had
capital
loss
carryforwards,
which
will
not
expire:
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:
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:
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)
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.
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
87
*
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
April
30,
2023,
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.
Distribution
and
Service
Fees:
The
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
Fund
and
establishing
and
maintaining
shareholder
accounts.
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
.1732%
Large
Cap
Select
0
.2000%
Mid
Cap
Growth
Opportunities
0
.2000%
Mid
Cap
Value
0
.1864%
Small
Cap
Growth
Opportunities
0
.1851%
Small
Cap
Select
0
.2000%
Small
Cap
Value
0
.1670%
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
88
Notes
to
Financial
Statements
(Unaudited)
(continued)
Other
Transactions
with
Affiliates:
The
Funds
receive
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
Funds,
which
amounted
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.
During
the
current
fiscal
period,
the
Distributor
compensated
financial
intermediaries
directly
with
commission
advances
at
the
time
of
purchase
as
follows:
Fund
Amount
Dividend
Value
$
1,065,744
Large
Cap
Select
5,851
Mid
Cap
Growth
Opportunities
15,083
Mid
Cap
Value
132,369
Small
Cap
Growth
Opportunities
—
Small
Cap
Select
48,412
Small
Cap
Value
110,465
Fund
Purchases
Sales
Realized
Gain
(Loss)
Dividend
Value
$
—
$
43,247,268
$
(4,340,605)
Large
Cap
Select
3,856
—
—
Mid
Cap
Growth
Opportunities
59,059
250,973
188,625
Mid
Cap
Value
—
—
—
Small
Cap
Growth
Opportunities
—
—
—
Small
Cap
Select
195,898
—
—
Small
Cap
Value
—
1,466,727
119,494
Fund
Sales
Charges
Collected
Paid
to
Financial
Intermediaries
Dividend
Value
$
38,424
$
34,192
Large
Cap
Select
2,768
2,460
Mid
Cap
Growth
Opportunities
10,114
8,884
Mid
Cap
Value
33,042
28,844
Small
Cap
Growth
Opportunities
18,293
16,205
Small
Cap
Select
4,546
4,053
Small
Cap
Value
10,622
9,401
89
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:
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:
Fund
Commission
Advances
Dividend
Value
$
3,266
Large
Cap
Select
240
Mid
Cap
Growth
Opportunities
5
Mid
Cap
Value
1,855
Small
Cap
Growth
Opportunities
500
Small
Cap
Select
616
Small
Cap
Value
3,560
Fund
12b-1
Fees
Retained
Dividend
Value
$
—
Large
Cap
Select
—
Mid
Cap
Growth
Opportunities
—
Mid
Cap
Value
—
Small
Cap
Growth
Opportunities
11
Small
Cap
Select
—
Small
Cap
Value
—
Fund
CDSC
Retained
Dividend
Value
$
190
Large
Cap
Select
464
Mid
Cap
Growth
Opportunities
—
Mid
Cap
Value
319
Small
Cap
Growth
Opportunities
—
Small
Cap
Select
(4)
Small
Cap
Value
33
90
Notes
to
Financial
Statements
(Unaudited)
(continued)
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
each
Fund’s
utilization
period(s)
during
the
current
fiscal
period,
the
average
daily
balance
outstanding
and
average
interest
rate
on
the
Borrowings
were
as
follows:
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%
Fund
Maximum
Outstanding
Balance
Dividend
Value
$
—
Large
Cap
Select
270,835
Mid
Cap
Growth
Opportunities
—
Mid
Cap
Value
—
Small
Cap
Growth
Opportunities
—
Small
Cap
Select
—
Small
Cap
Value
—
91
Borrowings
outstanding
as
of
the
end
of
the
reporting
period,
if
any,
are
recognized
as
“Borrowings”
on
the
Statement
of
Assets
and
Liabilities.
9.
Subsequent
Events
Expense
Cap:
During
May
2023,
the
Board
approved
an
extension
of
the
Expense
Cap
limitation
for
the
Funds
to
July
31,
2025.
Committed
Line
of
Credit
:
During
June
2023,
the
Participating
Funds
renewed
the
standby
credit
facility
through
June
2024. All
other
terms
remain
unchanged.
Fund
Utilization
Period
(Days
Outstanding)
Average
Daily
Balance
Outstanding
Average
Annual
Interest
Rate
Dividend
Value
—
$
—
—
%
Large
Cap
Select
4
270,835
5.59
Mid
Cap
Growth
Opportunities
—
—
—
Mid
Cap
Value
—
—
—
Small
Cap
Growth
Opportunities
—
—
—
Small
Cap
Select
—
—
—
Small
Cap
Value
—
—
—
92
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
Congress
Street
Suite
1
Boston,
MA
02114-2016
Legal
Counsel
Chapman
and
Cutler
LLP
Chicago,
IL
60603
Transfer
Agent
and
Shareholder
Services
SS&C
Global
Investor
&
Distribution
Solutions,
Inc.
(SS&C
GIDS)
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.
Glossary
of
Terms
Used
in
this
Report
(Unaudited)
93
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.
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.
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.
94
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
Directors
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,
2023
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
2022
(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,
“liquid”,
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.
Nuveen
Securities,
LLC,
member
FINRA
and
SIPC
333
West
Wacker
Drive
Chicago,
IL
60606
www.nuveen.com
MSA-FCGO-0423P
2913690-INV-B-06/24
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-funds
NOT
FDIC
INSURED
MAY
LOSE
VALUE
NO
BANK
GUARANTEE
| ITEM 2. | CODE OF ETHICS. |
Not applicable to this filing.
| ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
Not applicable to this filing.
| ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Not applicable to this filing.
| ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable to this registrant.
| ITEM 6. | SCHEDULE OF INVESTMENTS. |
| (a) | See Portfolio of Investments in Item 1. |
| (b) | Not applicable. |
| ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this registrant.
| ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this registrant.
| ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
Not applicable to this registrant.
| ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
| ITEM 11. | CONTROLS AND PROCEDURES. |
| (a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
| (b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
| ITEM 12. | DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
| ITEM 13. | EXHIBITS. |
File the exhibits listed below as part of this Form.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Investment Funds, Inc.
| By (Signature and Title) | /s/ Mark J. Czarniecki | |||
| Mark J. Czarniecki | ||||
| Vice President and Secretary | ||||
Date: July 6, 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: July 6, 2023
| By (Signature and Title) | /s/ E. Scott Wickerham | |
E. Scott Wickerham Vice President and Funds Controller (principal financial officer) |
Date: July 6, 2023