Nuveen Large Cap Select Fund NCSR Certified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811‑05309

Nuveen Investment Funds, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Mark J. Czarniecki

Vice President and Secretary

901 Marquette Avenue

Minneapolis, Minnesota 55402

(Name and address of agent for service)

Registrant’s telephone number, including area code: (312) 917‑7700

Date of fiscal year end: October 31

Date of reporting period: October 31, 2024

Item 1.

Reports to Stockholders.


		Annual Shareholder Report October 31, 2024

Nuveen Dividend Value Fund

Class A Shares/FFEIX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Dividend Value Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class A Shares	$110	0.96%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Dividend Value Fund returned 28.86% for Class A Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 1000 Value Index, which returned 30.98%.

• Top contributors to relative performance

» Security selection in the information technology sector, led by out‑of‑benchmark positions in Broadcom Inc. and Taiwan Semiconductor Manufacturing Co., Ltd.

» Security selection and an overweight to the industrials sector, led by an overweight to Westinghouse Air Brake Technologies Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including overweights to Humana Inc. and Merck & Co., Inc.

» Security selection and an underweight to the financials sector, including lack of exposure to JPMorgan Chase & Co.

» Security selection in the real estate sector, including overweights to EastGroup Properties, Inc. and Prologis, Inc.


		1		continued>>

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class A Shares at NAV (excluding maximum sales charge)		28.86	%		8.63	%		8.08	%

Class A Shares at maximum sales charge (Offering Price)		21.43	%		7.34	%		7.45	%

Russell 1000^® Index		38.07	%		15.00	%		12.75	%

Russell 1000^® Value Index		30.98	%		10.14	%		8.87	%

Lipper Equity Income Funds Classification Average		29.34	%		10.27	%		8.87	%

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	3,258,003,639

Total number of portfolio holdings		77

Portfolio turnover (%)		79%

Total management fees paid for the year	$	19,386,443

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Management fees: As of May 1, 2024, the Fund’s overall complex-level fee begins at a maximum rate of 0.1600% of the Fund’s average daily net assets, with breakpoints for eligible complex-level assets above $124.3 billion.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by February 28, 2025 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257‑8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678887_AR_1024 4015316‑INV‑Y‑12/25 (A, C, R6, I)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Dividend Value Fund

Class C Shares/FFECX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Dividend Value Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class C Shares	$195	1.71%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Dividend Value Fund returned 27.98% for Class C Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 1000 Value Index, which returned 30.98%.

• Top contributors to relative performance

» Security selection in the information technology sector, led by out‑of‑benchmark positions in Broadcom Inc. and Taiwan Semiconductor Manufacturing Co., Ltd.

» Security selection and an overweight to the industrials sector, led by an overweight to Westinghouse Air Brake Technologies Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including overweights to Humana Inc. and Merck & Co., Inc.

» Security selection and an underweight to the financials sector, including lack of exposure to JPMorgan Chase & Co.

» Security selection in the real estate sector, including overweights to EastGroup Properties, Inc. and Prologis, Inc.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class C Shares at NAV (excluding maximum sales charge)		27.98	%		7.82	%		7.43	%

Russell 1000^® Index		38.07	%		15.00	%		12.75	%

Russell 1000^® Value Index		30.98	%		10.14	%		8.87	%

Lipper Equity Income Funds Classification Average		29.34	%		10.27	%		8.87	%

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	3,258,003,639

Total number of portfolio holdings		77

Portfolio turnover (%)		79%

Total management fees paid for the year	$	19,386,443

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678317_AR_1024 4015316‑INV‑Y‑12/25 (A, C, R6, I)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Dividend Value Fund

Class R6 Shares/FFEFX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Dividend Value Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class R6 Shares	$71	0.62%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Dividend Value Fund returned 29.28% for Class R6 Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 1000 Value Index, which returned 30.98%.

• Top contributors to relative performance

» Security selection in the information technology sector, led by out‑of‑benchmark positions in Broadcom Inc. and Taiwan Semiconductor Manufacturing Co., Ltd.

» Security selection and an overweight to the industrials sector, led by an overweight to Westinghouse Air Brake Technologies Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including overweights to Humana Inc. and Merck & Co., Inc.

» Security selection and an underweight to the financials sector, including lack of exposure to JPMorgan Chase & Co.

» Security selection in the real estate sector, including overweights to EastGroup Properties, Inc. and Prologis, Inc.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class R6 Shares at NAV		29.28	%		9.01	%		8.47	%

Russell 1000^® Index		38.07	%		15.00	%		12.75	%

Russell 1000^® Value Index		30.98	%		10.14	%		8.87	%

Lipper Equity Income Funds Classification Average		29.34	%		10.27	%		8.87	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	3,258,003,639

Total number of portfolio holdings		77

Portfolio turnover (%)		79%

Total management fees paid for the year	$	19,386,443

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690130_AR_1024 4015316‑INV‑Y‑12/25 (A, C, R6, I)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Dividend Value Fund

Class I Shares/FAQIX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Dividend Value Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class I Shares	$81	0.71%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Dividend Value Fund returned 29.19% for Class I Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 1000 Value Index, which returned 30.98%.

• Top contributors to relative performance

» Security selection in the information technology sector, led by out‑of‑benchmark positions in Broadcom Inc. and Taiwan Semiconductor Manufacturing Co., Ltd.

» Security selection and an overweight to the industrials sector, led by an overweight to Westinghouse Air Brake Technologies Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including overweights to Humana Inc. and Merck & Co., Inc.

» Security selection and an underweight to the financials sector, including lack of exposure to JPMorgan Chase & Co.

» Security selection in the real estate sector, including overweights to EastGroup Properties, Inc. and Prologis, Inc.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class I Shares at NAV		29.19	%		8.88	%		8.35	%

Russell 1000^® Index		38.07	%		15.00	%		12.75	%

Russell 1000^® Value Index		30.98	%		10.14	%		8.87	%

Lipper Equity Income Funds Classification Average		29.34	%		10.27	%		8.87	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	3,258,003,639

Total number of portfolio holdings		77

Portfolio turnover (%)		79%

Total management fees paid for the year	$	19,386,443

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678879_AR_1024 4015316‑INV‑Y‑12/25 (A, C, R6, I)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Large Cap Select Fund

Class A Shares/FLRAX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Large Cap Select Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class A Shares	$123	1.03%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Large Cap Select Fund returned 39.42% for Class A Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund outperformed the S&P 500 Index, which returned 38.02%.

• Top contributors to relative performance

» Security selection in the industrials sector, led by overweights to Westinghouse Air Brake Technologies Corporation and Parker-Hannifin Corporation.

» Security selection in the information technology sector, led by an overweight to Broadcom Inc. and an out‑of‑benchmark position in Taiwan Semiconductor Manufacturing Co., Ltd.

» Security selection in the consumer discretionary sector, led by overweights to Royal Caribbean Group and Expedia Group, Inc.

• Top detractors from relative performance

» Security selection in the health care sector, including overweights to Humana Inc. and Elevance Health, Inc.

» Security selection in the energy sector, including overweights to Valero Energy Corporation and ConocoPhillips.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class A Shares at NAV (excluding maximum sales charge)		39.42	%		14.22	%		12.11	%

Class A Shares at maximum sales charge (Offering Price)		31.42	%		12.88	%		11.45	%

S&P 500^® Index		38.02	%		15.27	%		13.00	%

Lipper Large‑Cap Core Funds Classification Average		35.60	%		14.12	%		11.84	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	47,179,391

Total number of portfolio holdings		59

Portfolio turnover (%)		76%

Total management fees paid for the year	$	301,629

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690296_AR_1024 4015315‑INV‑Y‑12/25 (A, C, I)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Large Cap Select Fund

Class C Shares/FLYCX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Large Cap Select Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class C Shares	$212	1.78%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Large Cap Select Fund returned 38.38% for Class C Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund outperformed the S&P 500 Index, which returned 38.02%.

• Top contributors to relative performance

» Security selection in the industrials sector, led by overweights to Westinghouse Air Brake Technologies Corporation and Parker-Hannifin Corporation.

» Security selection in the information technology sector, led by an overweight to Broadcom Inc. and an out‑of‑benchmark position in Taiwan Semiconductor Manufacturing Co., Ltd.

» Security selection in the consumer discretionary sector, led by overweights to Royal Caribbean Group and Expedia Group, Inc.

• Top detractors from relative performance

» Security selection in the health care sector, including overweights to Humana Inc. and Elevance Health, Inc.

» Security selection in the energy sector, including overweights to Valero Energy Corporation and ConocoPhillips.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class C Shares at NAV (excluding maximum sales charge)		38.38	%		13.37	%		11.44	%

S&P 500^® Index		38.02	%		15.27	%		13.00	%

Lipper Large‑Cap Core Funds Classification Average		35.60	%		14.12	%		11.84	%

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	47,179,391

Total number of portfolio holdings		59

Portfolio turnover (%)		76%

Total management fees paid for the year	$	301,629

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by February 28, 2025 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690312_AR_1024 4015315‑INV‑Y‑12/25 (A, C, I)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Large Cap Select Fund

Class I Shares/FLRYX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Large Cap Select Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class I Shares	$94	0.78%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Large Cap Select Fund returned 39.76% for Class I Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund outperformed the S&P 500 Index, which returned 38.02%.

• Top contributors to relative performance

» Security selection in the industrials sector, led by overweights to Westinghouse Air Brake Technologies Corporation and Parker-Hannifin Corporation.

» Security selection in the information technology sector, led by an overweight to Broadcom Inc. and an out‑of‑benchmark position in Taiwan Semiconductor Manufacturing Co., Ltd.

» Security selection in the consumer discretionary sector, led by overweights to Royal Caribbean Group and Expedia Group, Inc.

• Top detractors from relative performance

» Security selection in the health care sector, including overweights to Humana Inc. and Elevance Health, Inc.

» Security selection in the energy sector, including overweights to Valero Energy Corporation and ConocoPhillips.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class I Shares at NAV		39.76	%		14.50	%		12.39	%

S&P 500^® Index		38.02	%		15.27	%		13.00	%

Lipper Large‑Cap Core Funds Classification Average		35.60	%		14.12	%		11.84	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	47,179,391

Total number of portfolio holdings		59

Portfolio turnover (%)		76%

Total management fees paid for the year	$	301,629

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690338_AR_1024 4015315‑INV‑Y‑12/25 (A, C, I)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Mid Cap Growth Opportunities Fund

Class A Shares/FRSLX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Mid Cap Growth Opportunities Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class A Shares	$132	1.15%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Mid Cap Growth Opportunities Fund returned 29.53% for Class A Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund significantly underperformed the Russell Mid Cap Growth Index, which returned 38.67%.

• Top contributors to relative performance

» Security selection in industrials, led by an out‑of‑benchmark position in MasTec, Inc. and an overweight to Axon Enterprise Inc.

» Security selection in communication services, led by an overweight to Trade Desk, Inc.

• Top detractors from relative performance

» Security selection and an overweight in health care, including an overweight to Inspire Medical Systems, Inc. and out‑of‑benchmark positions in argenx SE and Lantheus Holdings Inc.

» Security selection in information technology, including an overweight to Five9, Inc. and an underweight to Palantir Technologies Inc.

» Security selection in financials, including an out‑of‑benchmark position in FirstCash Holdings, Inc. and an overweight to Everest Group, Ltd.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class A Shares at NAV (excluding maximum sales charge)		29.53	%		8.12	%		7.98	%

Class A Shares at maximum sales charge (Offering Price)		22.07	%		6.85	%		7.34	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell Midcap^® Growth Index		38.67	%		11.46	%		11.19	%

Lipper Mid‑Cap Growth Funds Classification Average		33.43	%		9.59	%		9.78	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	181,281,098

Total number of portfolio holdings		65

Portfolio turnover (%)		58%

Total management fees paid for the year	$	1,471,403

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690718_AR_1024 4015312‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Mid Cap Growth Opportunities Fund

Class R6 Shares/FMEFX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Mid Cap Growth Opportunities Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class R6 Shares	$94	0.82%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Mid Cap Growth Opportunities Fund returned 30.03% for Class R6 Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund significantly underperformed the Russell Mid Cap Growth Index, which returned 38.67%.

• Top contributors to relative performance

» Security selection in industrials, led by an out‑of‑benchmark position in MasTec, Inc. and an overweight to Axon Enterprise Inc.

» Security selection in communication services, led by an overweight to Trade Desk, Inc.

• Top detractors from relative performance

» Security selection and an overweight in health care, including an overweight to Inspire Medical Systems, Inc. and out‑of‑benchmark positions in argenx SE and Lantheus Holdings Inc.

» Security selection in information technology, including an overweight to Five9, Inc. and an underweight to Palantir Technologies Inc.

» Security selection in financials, including an out‑of‑benchmark position in FirstCash Holdings, Inc. and an overweight to Everest Group, Ltd.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class R6 Shares at NAV		30.03	%		8.48	%		8.37	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell Midcap^® Growth Index		38.67	%		11.46	%		11.19	%

Lipper Mid‑Cap Growth Funds Classification Average		33.43	%		9.59	%		9.78	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	181,281,098

Total number of portfolio holdings		65

Portfolio turnover (%)		58%

Total management fees paid for the year	$	1,471,403

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690114_AR_1024 4015312‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Mid Cap Growth Opportunities Fund

Class I Shares/FISGX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Mid Cap Growth Opportunities Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class I Shares	$103	0.90%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Mid Cap Growth Opportunities Fund returned 29.92% for Class I Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund significantly underperformed the Russell Mid Cap Growth Index, which returned 38.67%.

• Top contributors to relative performance

» Security selection in industrials, led by an out‑of‑benchmark position in MasTec, Inc. and an overweight to Axon Enterprise Inc.

» Security selection in communication services, led by an overweight to Trade Desk, Inc.

• Top detractors from relative performance

» Security selection and an overweight in health care, including an overweight to Inspire Medical Systems, Inc. and out‑of‑benchmark positions in argenx SE and Lantheus Holdings Inc.

» Security selection in information technology, including an overweight to Five9, Inc. and an underweight to Palantir Technologies Inc.

» Security selection in financials, including an out‑of‑benchmark position in FirstCash Holdings, Inc. and an overweight to Everest Group, Ltd.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class I Shares at NAV		29.92	%		8.39	%		8.25	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell Midcap^® Growth Index		38.67	%		11.46	%		11.19	%

Lipper Mid‑Cap Growth Funds Classification Average		33.43	%		9.59	%		9.78	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	181,281,098

Total number of portfolio holdings		65

Portfolio turnover (%)		58%

Total management fees paid for the year	$	1,471,403

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690759_AR_1024 4015312‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Mid Cap Value 1 Fund

(Formerly known as Nuveen Mid Cap Value Fund)

Class A Shares/FASEX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Mid Cap Value 1 Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class A Shares	$129	1.14%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Mid Cap Value 1 Fund returned 25.98% for Class A Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund significantly underperformed the Russell Mid Cap Value Index, which returned 34.03%.

• Top contributors to relative performance

» Security selection in the industrials sector, led by an overweight to Parker-Hannifin Corporation.

» An overweight to Jefferies Financial Group Inc.

• Top detractors from relative performance

» Security selection in the information technology sector, including an overweight to VeriSign, Inc.

» Security selection in the real estate sector, including an overweight to Invitation Homes, Inc. And an out‑of‑benchmark position in Apple Hospitality REIT Inc.

» Security selection in the health care sector, including an out‑of‑benchmark position in Option Care Health Inc. and overweights to Humana Inc. and Jazz Pharmaceuticals Public Limited Company.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class A Shares at NAV (excluding maximum sales charge)		25.98	%		10.42	%		8.81	%

Class A Shares at maximum sales charge (Offering Price)		18.73	%		9.12	%		8.17	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell Midcap^® Value Index		34.03	%		9.93	%		8.43	%

Lipper Mid‑Cap Value Funds Classification Average		28.70	%		10.00	%		8.00	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	444,497,977

Total number of portfolio holdings		71

Portfolio turnover (%)		20%

Total management fees paid for the year	$	3,405,899

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Name change: Effective May 1, 2024, the Fund’s name changed from Nuveen Mid Cap Value Fund to Nuveen Mid Cap Value 1 Fund.

•

Fund merger: The Fund has been approved for merger into Nuveen Mid Cap Value Fund by the Funds’ Board of Directors/Trustees. Merger is pending shareholder approval.

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678853_AR_1024 4015313‑INV‑Y‑12/25 (A, C, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Mid Cap Value 1 Fund

(Formerly known as Nuveen Mid Cap Value Fund)

Class C Shares/FACSX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Mid Cap Value 1 Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class C Shares	$213	1.89%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Mid Cap Value 1 Fund returned 25.06% for Class C Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund significantly underperformed the Russell Mid Cap Value Index, which returned 34.03%.

• Top contributors to relative performance

» Security selection in the industrials sector, led by an overweight to Parker-Hannifin Corporation.

» An overweight to Jefferies Financial Group Inc.

• Top detractors from relative performance

» Security selection in the information technology sector, including an overweight to VeriSign, Inc.

» Security selection in the real estate sector, including an overweight to Invitation Homes, Inc. And an out‑of‑benchmark position in Apple Hospitality REIT Inc.

» Security selection in the health care sector, including an out‑of‑benchmark position in Option Care Health Inc. and overweights to Humana Inc. and Jazz Pharmaceuticals Public Limited Company.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class C Shares at NAV (excluding maximum sales charge)		25.06	%		9.59	%		8.15	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell Midcap^® Value Index		34.03	%		9.93	%		8.43	%

Lipper Mid‑Cap Value Funds Classification Average		28.70	%		10.00	%		8.00	%

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	444,497,977

Total number of portfolio holdings		71

Portfolio turnover (%)		20%

Total management fees paid for the year	$	3,405,899

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Name change: Effective May 1, 2024, the Fund’s name changed from Nuveen Mid Cap Value Fund to Nuveen Mid Cap Value 1 Fund.

•

Fund merger: The Fund has been approved for merger into Nuveen Mid Cap Value Fund by the Funds’ Board of Directors/Trustees. Merger is pending shareholder approval.

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678333_AR_1024 4015313‑INV‑Y‑12/25 (A, C, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Mid Cap Value 1 Fund

(Formerly known as Nuveen Mid Cap Value Fund)

Class R6 Shares/FMVQX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Mid Cap Value 1 Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class R6 Shares	$86	0.76%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Mid Cap Value 1 Fund returned 26.47% for Class R6 Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund significantly underperformed the Russell Mid Cap Value Index, which returned 34.03%.

• Top contributors to relative performance

» Security selection in the industrials sector, led by an overweight to Parker-Hannifin Corporation.

» An overweight to Jefferies Financial Group Inc.

• Top detractors from relative performance

» Security selection in the information technology sector, including an overweight to VeriSign, Inc.

» Security selection in the real estate sector, including an overweight to Invitation Homes, Inc. And an out‑of‑benchmark position in Apple Hospitality REIT Inc.

» Security selection in the health care sector, including an out‑of‑benchmark position in Option Care Health Inc. and overweights to Humana Inc. and Jazz Pharmaceuticals Public Limited Company.


		1		continued>>

How did the Fund perform over the period since inception?

Fund Performance (June 20, 2018 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			Since Inception (6/20/18)

Class R6 Shares at NAV		26.47	%		10.85	%		8.59	%

Russell 3000^® Index		37.86	%		14.60	%		13.05	%

Russell Midcap^® Value Index		34.03	%		9.93	%		8.42	%

Lipper Mid‑Cap Value Funds Classification Average		28.70	%		10.00	%		7.87	%

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257‑8787.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	444,497,977

Total number of portfolio holdings		71

Portfolio turnover (%)		20%

Total management fees paid for the year	$	3,405,899

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Name change: Effective May 1, 2024, the Fund’s name changed from Nuveen Mid Cap Value Fund to Nuveen Mid Cap Value 1 Fund.

•

Fund merger: The Fund has been approved for merger into Nuveen Mid Cap Value Fund by the Funds’ Board of Directors/Trustees. Merger is pending shareholder approval.

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670693555_AR_1024 4015313‑INV‑Y‑12/25 (A, C, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Mid Cap Value 1 Fund

(Formerly known as Nuveen Mid Cap Value Fund)

Class I Shares/FSEIX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Mid Cap Value 1 Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class I Shares	$101	0.89%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Mid Cap Value 1 Fund returned 26.33% for Class I Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund significantly underperformed the Russell Mid Cap Value Index, which returned 34.03%.

• Top contributors to relative performance

» Security selection in the industrials sector, led by an overweight to Parker-Hannifin Corporation.

» An overweight to Jefferies Financial Group Inc.

• Top detractors from relative performance

» Security selection in the information technology sector, including an overweight to VeriSign, Inc.

» Security selection in the real estate sector, including an overweight to Invitation Homes, Inc. And an out‑of‑benchmark position in Apple Hospitality REIT Inc.

» Security selection in the health care sector, including an out‑of‑benchmark position in Option Care Health Inc. and overweights to Humana Inc. and Jazz Pharmaceuticals Public Limited Company.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class I Shares at NAV		26.33	%		10.70	%		9.08	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell Midcap^® Value Index		34.03	%		9.93	%		8.43	%

Lipper Mid‑Cap Value Funds Classification Average		28.70	%		10.00	%		8.00	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	444,497,977

Total number of portfolio holdings		71

Portfolio turnover (%)		20%

Total management fees paid for the year	$	3,405,899

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Name change: Effective May 1, 2024, the Fund’s name changed from Nuveen Mid Cap Value Fund to Nuveen Mid Cap Value 1 Fund.

•

Fund merger: The Fund has been approved for merger into Nuveen Mid Cap Value Fund by the Funds’ Board of Directors/Trustees. Merger is pending shareholder approval.

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678663_AR_1024 4015313‑INV‑Y‑12/25 (A, C, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Growth Opportunities Fund

Class A Shares/FRMPX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Small Cap Growth Opportunities Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class A Shares	$143	1.21%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Growth Opportunities Fund returned 35.95% for Class A Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Growth Index, which returned 36.49%.

• Top contributors to relative performance

» Security selection in the financials sector, led by out‑of‑benchmark positions in Evercore Inc. and Shift4 Payments, Inc.

» Security selection in the consumer staples sector, led by an overweight to e.l.f. Beauty, Inc.

» Security selection in the information technology sector, led by overweights to Q2 Holdings, Inc., Commvault Systems, Inc. and Onto Innovation, Inc.

• Top detractors from relative performance

» Security selection in the consumer discretionary sector, including an overweight to Arhaus, Inc.

» An overweight to Array Technologies Inc.

» Security selection in the health care sector, including overweights to AtriCure, Inc. and SI‑BONE, Inc. and no exposure to Viking Therapeutics, Inc. earlier in the year when the shares rose sharply.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class A Shares at NAV (excluding maximum sales charge)		35.95	%		11.62	%		9.73	%

Class A Shares at maximum sales charge (Offering Price)		28.12	%		10.31	%		9.08	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell 2000^® Growth Index		36.49	%		7.92	%		8.15	%

Lipper Small‑Cap Growth Funds Classification Average		34.18	%		8.99	%		9.12	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	238,947,002

Total number of portfolio holdings		83

Portfolio turnover (%)		67%

Total management fees paid for the year	$	1,785,554

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690767_AR_1024 4015317‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Growth Opportunities Fund

Class R6 Shares/FMPFX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Small Cap Growth Opportunities Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class R6 Shares	$97	0.82%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Growth Opportunities Fund returned 36.41% for Class R6 Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund performed in line with the Russell 2000 Growth Index, which returned 36.49%.

• Top contributors to relative performance

» Security selection in the financials sector, led by out‑of‑benchmark positions in Evercore Inc. and Shift4 Payments, Inc.

» Security selection in the consumer staples sector, led by an overweight to e.l.f. Beauty, Inc.

» Security selection in the information technology sector, led by overweights to Q2 Holdings, Inc., Commvault Systems, Inc. and Onto Innovation, Inc.

• Top detractors from relative performance

» Security selection in the consumer discretionary sector, including an overweight to Arhaus, Inc.

» An overweight to Array Technologies Inc.


		1		continued>>

How did the Fund perform over the period since inception?

Fund Performance (June 30, 2016 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1-Year			5-Year			Since Inception (6/30/16)

Class R6 Shares at NAV		36.41	%		12.08	%		12.69	%

Russell 3000^® Index		37.86	%		14.60	%		14.22	%

Russell 2000^® Growth Index		36.49	%		7.92	%		9.78	%

Lipper Small‑Cap Growth Funds Classification Average		34.18	%		8.99	%		11.06	%

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257-8787.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	238,947,002

Total number of portfolio holdings		83

Portfolio turnover (%)		67%

Total management fees paid for the year	$	1,785,554

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257-8787.


670693845_AR_1024 4015317‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Growth Opportunities Fund

Class I Shares/FIMPX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Small Cap Growth Opportunities Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class I Shares	$113	0.96%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Growth Opportunities Fund returned 36.29% for Class I Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund performed in line with the Russell 2000 Growth Index, which returned 36.49%.

• Top contributors to relative performance

» Security selection in the financials sector, led by out‑of‑benchmark positions in Evercore Inc. and Shift4 Payments, Inc.

» Security selection in the consumer staples sector, led by an overweight to e.l.f. Beauty, Inc.

» Security selection in the information technology sector, led by overweights to Q2 Holdings, Inc., Commvault Systems, Inc. and Onto Innovation, Inc.

• Top detractors from relative performance

» Security selection in the consumer discretionary sector, including an overweight to Arhaus, Inc.

» An overweight to Array Technologies Inc.

Security selection in the health care sector, including overweights to AtriCure, Inc. and SI‑BONE, Inc. and no exposure to Viking Therapeutics, Inc. earlier in the year when the shares rose sharply.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class I Shares at NAV		36.29	%		11.89	%		10.00	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell 2000^® Growth Index		36.49	%		7.92	%		8.15	%

Lipper Small‑Cap Growth Funds Classification Average		34.18	%		8.99	%		9.12	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	238,947,002

Total number of portfolio holdings		83

Portfolio turnover (%)		67%

Total management fees paid for the year	$	1,785,554

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690817_AR_1024 4015317‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Select Fund

Class A Shares/EMGRX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Small Cap Select Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class A Shares	$142	1.22%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Select Fund returned 33.25% for Class A Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Index, which returned 34.07%.

• Top contributors to relative performance

» Security selection in the information technology sector, led by overweights to Q2 Holdings, Inc., Commvault Systems, Inc. and Semtech Corporation.

» Security selection in the financials sector, led by an out‑of‑benchmark position in Evercore Inc. and an overweight to Piper Sandler Companies.

» Security selection in the industrials sector, led by overweights to Atmus Filtration Technologies, Inc. and SPX Technologies, Inc.

• Top detractors from relative performance

» Security selection in the consumer discretionary sector, including overweights to Dana Incorporated, Topgolf Callaway Brands Corp. and Arhaus, Inc.

» Security selection in the health care sector, including overweights to AtriCure, Inc., Progyny Inc. and SI‑BONE, Inc.

» An overweight to Array Technologies Inc. in the industrials sector.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class A Shares at NAV (excluding maximum sales charge)		33.25	%		10.45	%		9.15	%

Class A Shares at maximum sales charge (Offering Price)		25.54	%		9.15	%		8.50	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell 2000^® Index		34.07	%		8.50	%		7.94	%

Lipper Small‑Cap Core Funds Classification Average		30.01	%		9.31	%		7.83	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	144,686,098

Total number of portfolio holdings		89

Portfolio turnover (%)		56%

Total management fees paid for the year	$	965,069

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690833_AR_1024 4015314‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Select Fund

Class R6 Shares/ASEFX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Small Cap Select Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class R6 Shares	$99	0.85%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Select Fund returned 33.72% for Class R6 Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Index, which returned 34.07%.

• Top contributors to relative performance

» Security selection in the information technology sector, led by overweights to Q2 Holdings, Inc., Commvault Systems, Inc. and Semtech Corporation.

» Security selection in the financials sector, led by an out‑of‑benchmark position in Evercore Inc. and an overweight to Piper Sandler Companies.

» Security selection in the industrials sector, led by overweights to Atmus Filtration Technologies, Inc. and SPX Technologies, Inc.

• Top detractors from relative performance

» Security selection in the consumer discretionary sector, including overweights to Dana Incorporated, Topgolf Callaway Brands Corp. and Arhaus, Inc.

» Security selection in the health care sector, including overweights to AtriCure, Inc., Progyny Inc. and SI‑BONE, Inc.

» An overweight to Array Technologies Inc. in the industrials sector.


		1		continued>>

How did the Fund perform over the period since inception?

Fund Performance (February 28, 2018 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			Since Inception (2/28/18)

Class R6 Shares at NAV		33.72	%		10.88	%		9.25	%

Russell 3000^® Index		37.86	%		14.60	%		13.05	%

Russell 2000^® Index		34.07	%		8.50	%		7.20	%

Lipper Small‑Cap Core Funds Classification Average		30.01	%		9.31	%		7.60	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	144,686,098

Total number of portfolio holdings		89

Portfolio turnover (%)		56%

Total management fees paid for the year	$	965,069

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670693563_AR_1024 4015314‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Select Fund

Class I Shares/ARSTX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Small Cap Select Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class I Shares	$112	0.96%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Select Fund returned 33.60% for Class I Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Index, which returned 34.07%.

• Top contributors to relative performance

» Security selection in the information technology sector, led by overweights to Q2 Holdings, Inc., Commvault Systems, Inc. and Semtech Corporation.

» Security selection in the financials sector, led by an out‑of‑benchmark position in Evercore Inc. and an overweight to Piper Sandler Companies.

» Security selection in the industrials sector, led by overweights to Atmus Filtration Technologies, Inc. and SPX Technologies, Inc.

• Top detractors from relative performance

» Security selection in the consumer discretionary sector, including overweights to Dana Incorporated, Topgolf Callaway Brands Corp. and Arhaus, Inc.

» Security selection in the health care sector, including overweights to AtriCure, Inc., Progyny Inc. and SI‑BONE, Inc.

» An overweight to Array Technologies Inc. in the industrials sector.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class I Shares at NAV		33.60	%		10.75	%		9.42	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell 2000^® Index		34.07	%		8.50	%		7.94	%

Lipper Small‑Cap Core Funds Classification Average		30.01	%		9.31	%		7.83	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	144,686,098

Total number of portfolio holdings		89

Portfolio turnover (%)		56%

Total management fees paid for the year	$	965,069

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670690874_AR_1024 4015314‑INV‑Y‑12/25 (A, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Value Fund

Class A Shares/FSCAX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Small Cap Value Fund for the period of November 1, 2023 to October 31, 2024.You can find additional information at

https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class A Shares	$138	1.20%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Value Fund returned 29.64% for Class A Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Value Index, which returned 31.77%.

• Top contributors to relative performance

» Security selection in the financials sector, led by overweights to Piper Sandler Companies and Heartland Financial USA Inc., and an out‑of‑benchmark position in Stifel Financial Corp.

» An out‑of‑benchmark position in Q2 Holdings, Inc.

» Security selection in the consumer staples sector, led by an overweight to Primo Water Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including an out‑of‑benchmark position in Acadia Healthcare Company, Inc. and an overweight to Option Care Health Inc.

» Security selection in the real estate sector, including an overweight to Kennedy-Wilson Holdings, Inc

» Security selection in the consumer discretionary sector, including overweights to Dine Brands Global, Inc. and Dana Incorporated and an out‑of‑benchmark position in Marriott Vacations Worldwide Corporation.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1-Year			5-Year			10-Year

Class A Shares at NAV (excluding maximum sales charge)		29.64	%		7.48	%		6.51	%

Class A Shares at maximum sales charge (Offering Price)		22.17	%		6.22	%		5.88	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell 2000^® Value Index		31.77	%		8.42	%		7.33	%

Lipper Small‑Cap Value Funds Classification Average		28.37	%		10.80	%		7.52	%

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257-8787.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	418,622,657

Total number of portfolio holdings		84

Portfolio turnover (%)		23%

Total management fees paid for the year	$	3,479,461

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257-8787.


670678309_AR_1024 4015311‑INV‑Y‑12/25 (A, C, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Value Fund

Class C Shares/FSCVX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Small Cap Value Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class C Shares	$223	1.95%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Value Fund returned 28.65% for Class C Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Value Index, which returned 31.77%.

• Top contributors to relative performance

» Security selection in the financials sector, led by overweights to Piper Sandler Companies and Heartland Financial USA Inc., and an out‑of‑benchmark position in Stifel Financial Corp.

» An out‑of‑benchmark position in Q2 Holdings, Inc.

» Security selection in the consumer staples sector, led by an overweight to Primo Water Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including an out‑of‑benchmark position in Acadia Healthcare Company, Inc. and an overweight to Option Care Health Inc.

» Security selection in the real estate sector, including an overweight to Kennedy-Wilson Holdings, Inc.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class C Shares at NAV (excluding maximum sales charge)		28.65	%		6.66	%		5.87	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell 2000^® Value Index		31.77	%		8.42	%		7.33	%

Lipper Small‑Cap Value Funds Classification Average		28.37	%		10.80	%		7.52	%

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	418,622,657

Total number of portfolio holdings		84

Portfolio turnover (%)		23%

Total management fees paid for the year	$	3,479,461

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678341_AR_1024 4015311‑INV‑Y‑12/25 (A, C, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Value Fund

Class R6 Shares/FSCWX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Small Cap Value Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class R6 Shares	$91	0.79%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Value Fund returned 30.14% for Class R6 Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Value Index, which returned 31.77%.

• Top contributors to relative performance

» Security selection in the financials sector, led by overweights to Piper Sandler Companies and Heartland Financial USA Inc., and an out‑of‑benchmark position in Stifel Financial Corp.

» An out‑of‑benchmark position in Q2 Holdings, Inc.

» Security selection in the consumer staples sector, led by an overweight to Primo Water Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including an out‑of‑benchmark position in Acadia Healthcare Company, Inc. and an overweight to Option Care Health Inc.

» Security selection in the real estate sector, including an overweight to Kennedy-Wilson Holdings, Inc.


		1		continued>>

How did the Fund perform over the period since inception?

Fund Performance (June 30, 2016 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			Since Inception (6/30/16)

Class R6 Shares at NAV		30.14	%		7.92	%		6.81	%

Russell 3000^® Index		37.86	%		14.60	%		14.22	%

Russell 2000^® Value Index		31.77	%		8.42	%		8.80	%

Lipper Small‑Cap Value Funds Classification Average		28.37	%		10.80	%		9.42	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	418,622,657

Total number of portfolio holdings		84

Portfolio turnover (%)		23%

Total management fees paid for the year	$	3,479,461

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670693837_AR_1024 4015311‑INV‑Y‑12/25 (A, C, I, R6)


		3


		Annual Shareholder Report October 31, 2024

Nuveen Small Cap Value Fund

Class I Shares/FSCCX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Small Cap Value Fund for the period of November 1, 2023 to October 31, 2024. You can find additional information at

https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)



	Cost of a $10,000 investment	Costs paid as a percentage of $10,000 investment*

Class I Shares	$109	0.95%

Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

Performance Highlights

• The Nuveen Small Cap Value Fund returned 29.97% for Class I Shares at net asset value (NAV) for the 12 months ended October 31, 2024. The Fund underperformed the Russell 2000 Value Index, which returned 31.77%.

• Top contributors to relative performance

» Security selection in the financials sector, led by overweights to Piper Sandler Companies and Heartland Financial USA Inc., and an out‑of‑benchmark position in Stifel Financial Corp.

» An out‑of‑benchmark position in Q2 Holdings, Inc.

» Security selection in the consumer staples sector, led by an overweight to Primo Water Corporation.

• Top detractors from relative performance

» Security selection in the health care sector, including an out‑of‑benchmark position in Acadia Healthcare Company, Inc. and an overweight to Option Care Health Inc.

» Security selection in the real estate sector, including an overweight to Kennedy-Wilson Holdings, Inc.


		1		continued>>

How did the Fund perform over the last 10 years?

Fund Performance (November 1, 2014 through October 31, 2024) Initial Investment of $10,000

Average Annual Total Returns



	1‑Year			5‑Year			10‑Year

Class I Shares at NAV		29.97	%		7.75	%		6.77	%

Russell 3000^® Index		37.86	%		14.60	%		12.44	%

Russell 2000^® Value Index		31.77	%		8.42	%		7.33	%

Lipper Small‑Cap Value Funds Classification Average		28.37	%		10.80	%		7.52	%


		2		continued>>

Fund Statistics (as of October 31, 2024)



Fund net assets	$	418,622,657

Total number of portfolio holdings		84

Portfolio turnover (%)		23%

Total management fees paid for the year	$	3,479,461

What did the Fund invest in? (as of October 31, 2024)

How has the Fund changed?

•

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

•

prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.


670678200_AR_1024 4015311‑INV‑Y‑12/25 (A, C, I, R6)


		3

Item 2.

Code of Ethics.

As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. Upon request, a copy of the registrant’s code of ethics is available without charge by calling 800-257-8787.

Item 3.

Audit Committee Financial Expert.

As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) had determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The members of the registrant’s audit committee that have been designated as audit committee financial experts are Joseph A. Boateng, Albin F. Moschner, John K. Nelson, Loren M. Starr and Robert L. Young, who are “independent” for purposes of Item 3 of Form N-CSR.

Mr. Boateng has served as the Chief Investment Officer for Casey Family Programs since 2007. He was previously Director of U.S. Pension Plans for Johnson & Johnson from 2002-2006. Mr. Boateng is a board member of the Lumina Foundation and Waterside School, an emeritus board member of Year Up Puget Sound, member of the Investment Advisory Committee and former Chair for the Seattle City Employees’ Retirement System, and an Investment Committee Member for The Seattle Foundation. Mr. Boateng previously served on the Board of Trustees for the College Retirement Equities Fund (2018-2023) and on the Management Committee for TIAA Separate Account VA-1 (2019-2023).

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

Mr. Nelson formerly served on the Board of Directors of Core12, LLC from 2008 to 2023, a private firm which develops branding, marketing, and communications strategies for clients. Mr. Nelson has extensive experience in global banking and markets, having served in several senior executive positions with ABN AMRO Holdings N.V. and its affiliated entities and predecessors, including LaSalle Bank Corporation from 1996 to 2008, ultimately serving as Chief Executive Officer of ABN AMRO N.V. North America. During his tenure at the bank, he also served as Global Head of its Financial Markets Division, which encompassed the bank’s Currency, Commodity, Fixed Income, Emerging Markets, and Derivatives businesses. He was a member of the Foreign Exchange Committee of the Federal Reserve Bank of the United States and during his tenure with ABN AMRO served as the bank’s representative on various committees of The Bank of Canada, European Central Bank, and The Bank of England. Mr. Nelson previously served as a senior, external advisor to the financial services practice of Deloitte Consulting LLP. (2012-2014).

Mr. Starr was Vice Chair, Senior Managing Director from 2020 to 2021, and Chief Financial Officer, Senior Managing Director from 2005 to 2020, for Invesco Ltd. Mr. Starr is also a Director and member of the Audit Committee for AMG. He is former Chair and member of the Board of Directors, Georgia Leadership Institute for School Improvement (GLISI); former Chair and member of the Board of Trustees, Georgia Council on Economic Education (GCEE). Mr. Starr previously served on the Board of Trustees for the College Retirement Equities Fund and on the Management Committee for TIAA Separate Account VA-1 (2022-2023).

Mr. Young has more than 30 years of experience in the investment management industry. From 1997 to 2017, he held various positions with J.P. Morgan Investment Management Inc. (“J.P. Morgan Investment”) and its affiliates (collectively, “J.P. Morgan”). Most recently, he served as Chief Operating Officer and Director of J.P. Morgan Investment (from 2010 to 2016) and as President and Principal Executive Officer of the J.P. Morgan Funds (from 2013 to 2016). As Chief Operating Officer of J.P. Morgan Investment, Mr. Young led service, administration and business platform support activities for J.P. Morgan’s domestic retail mutual fund and institutional commingled and separate account businesses and co-led these activities for J.P. Morgan’s global retail and institutional

investment management businesses. As President of the J.P. Morgan Funds, Mr. Young interacted with various service providers to these funds, facilitated the relationship between such funds and their boards, and was directly involved in establishing board agendas, addressing regulatory matters, and establishing policies and procedures. Before joining J.P. Morgan, Mr. Young, a former Certified Public Accountant (CPA), was a Senior Manager (Audit) with Deloitte & Touche LLP (formerly, Touche Ross LLP), where he was employed from 1985 to 1996. During his tenure there, he actively participated in creating, and ultimately led, the firm’s midwestern mutual fund practice.

Item 4.

Principal Accountant Fees and Services.

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

The Audit Committee has delegated certain pre-approval responsibilities to its Chair (or, in his absence, any other member of the Audit Committee).


Fiscal Year Ended October 31, 2024	Audit Fees Billed to Funds¹		Audit-Related Fees Billed to Funds²		Tax Fees Billed to Funds³		All Other Fees Billed to Funds⁴
Nuveen Dividend Value Fund		$17,545		$0		$3,200	$0

Nuveen Mid Cap Growth Opportunities Fund		$17,545		$0		$500	$0

Nuveen Small Cap Value Fund		$17,545		$0		$2,500	$0

Nuveen Mid Cap Value 1 Fund⁵		$17,545		$0		$0	$0

Nuveen Small Cap Growth Opportunities Fund		$17,545		$0		$500	$0

Nuveen Small Cap Select Fund		$17,545		$0		$500	$0

Nuveen Large Cap Select Fund		$17,545		$0		$2,000	$0

Total		$122,815		$0		$9,200	$0

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

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

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

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

5	Formerly known as Nuveen Mid Cap Value Fund.


	Percentage Approved Pursuant to Pre-approval Exception
Fiscal Year Ended October 31, 2024	Audit Fees Billed to Funds			Audit-Related Fees Billed to Funds			Tax Fees Billed to Funds			All Other Fees Billed to Funds
Nuveen Dividend Value Fund		0	%		0	%		0	%	0%

Nuveen Mid Cap Growth Opportunities Fund		0	%		0	%		0	%	0%

Nuveen Small Cap Value Fund		0	%		0	%		0	%	0%

Nuveen Mid Cap Value 1 Fund		0	%		0	%		0	%	0%


	Percentage Approved Pursuant to Pre-approval Exception
Fiscal Year Ended October 31, 2024	Audit Fees Billed to Funds			Audit-Related Fees Billed to Funds			Tax Fees Billed to Funds			All Other Fees Billed to Funds

Nuveen Small Cap Growth Opportunities Fund		0	%		0	%		0	%	0%

Nuveen Small Cap Select Fund		0	%		0	%		0	%	0%

Nuveen Large Cap Select Fund		0	%		0	%		0	%	0%


Fiscal Year Ended October 31, 2023	Audit Fees Billed to Funds¹		Audit-Related Fees Billed to Funds²		Tax Fees Billed to Funds³		All Other Fees Billed to Funds⁴
Nuveen Dividend Value Fund		$17,470		$0		$3,700	$0

Nuveen Mid Cap Growth Opportunities Fund		$17,470		$0		$500	$0

Nuveen Small Cap Value Fund		$17,470		$0		$500	$0

Nuveen Mid Cap Value 1 Fund⁵		$17,470		$0		$2,000	$0

Nuveen Small Cap Growth Opportunities Fund		$17,470		$0		$500	$0

Nuveen Small Cap Select Fund		$17,470		$0		$500	$0

Nuveen Large Cap Select Fund		$17,470		$0		$2,500	$0

Total		$122,290		$0		$10,200	$0

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

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

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

5	Formerly known as Nuveen Mid Cap Value Fund.


	Percentage Approved Pursuant to Pre-approval Exception
Fiscal Year Ended October 31, 2023	Audit Fees Billed to Funds			Audit-Related Fees Billed to Funds			Tax Fees Billed to Funds			All Other Fees Billed to Funds
Nuveen Dividend Value Fund		0	%		0	%		0	%	0%

Nuveen Mid Cap Growth Opportunities Fund		0	%		0	%		0	%	0%

Nuveen Small Cap Value Fund		0	%		0	%		0	%	0%

Nuveen Mid Cap Value 1 Fund		0	%		0	%		0	%	0%

Nuveen Small Cap Growth Opportunities Fund		0	%		0	%		0	%	0%

Nuveen Small Cap Select Fund		0	%		0	%		0	%	0%

Nuveen Large Cap Select Fund		0	%		0	%		0	%	0%


Fiscal Year Ended October 31, 2024	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.		$0			$0		$0

	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
		0	%		0	%	0%

Fiscal Year Ended October 31, 2023	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.		$0			$0		$0

	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
		0	%		0	%	0%


Fiscal Year Ended October 31, 2024	Total Non-Audit Fees Billed to Fund		Total Non-Audit Fees Billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust)		Total Non-Audit Fees Billed to Adviser and Affiliated Fund Service Providers (all other engagements)		Total
Nuveen Dividend Value Fund		$3,200		$0		$0	$3,200

Nuveen Mid Cap Growth Opportunities Fund		$500		$0		$0	$500

Nuveen Small Cap Value Fund		$2,500		$0		$0	$2,500

Nuveen Mid Cap Value 1 Fund		$0		$0		$0	$0

Nuveen Small Cap Growth Opportunities Fund		$500		$0		$0	$500

Nuveen Small Cap Select Fund		$500		$0		$0	$500

Nuveen Large Cap Select Fund		$2,000		$0		$0	$2,000

Total		$9,200		$0		$0	$9,200

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

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


Fiscal Year Ended October 31, 2023	Total Non-Audit Fees Billed to Fund		Total Non-Audit Fees Billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust)		Total Non-Audit Fees Billed to Adviser and Affiliated Fund Service Providers (all other engagements)		Total
Nuveen Dividend Value Fund		$3,700		$0		$0	$3,700

Nuveen Mid Cap Growth Opportunities Fund		$500		$0		$0	$500

Nuveen Small Cap Value Fund		$500		$0		$0	$500

Nuveen Mid Cap Value 1 Fund		$2,000		$0		$0	$2,000

Nuveen Small Cap Growth Opportunities Fund		$500		$0		$0	$500

Nuveen Small Cap Select Fund		$500		$0		$0	$500

Nuveen Large Cap Select Fund		$2,500		$0		$0	$2,500

Total		$10,200		$0		$0	$10,200

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

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

Item 4(i) and Item 4(j) are not applicable to the registrant.

Item 5.

Audit Committee of Listed Registrants.

Not applicable to this registrant.

Item 6.

Investments.

(a)	Schedule of Investments is included as part of the financial statements filed under Item 7 of this Form N-CSR.

(b)	Not applicable.

Item 7.

Financial Statements and Financial Highlights for Open-End Management Investment Companies.

other

information

Year

Ended

Financial

statements

and

October

31,

2024

The

information

contained

herein

includes

the

financial

statements

and

certain

other

information

required

Items

7-11

Form

N-CSR.

Fund

Name

Class

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

Table

Contents

Item

Financial

Statements

and

Financial

Highlights

for

Open-End

Management

Investment

Companies

Report

Independent

Registered

Public

Accounting

Firm

Portfolios

Investments

Statement

Assets

and

Liabilities

Statement

Operations

Statement

Changes

Net

Assets

Financial

Highlights

Notes

Financial

Statements

Important

Tax

Information

Item

Changes

and

Disagreements

with

Accountants

for

Open-End

Management

Investment

Companies

Item

Proxy

Disclosures

for

Open-End

Management

Investment

Companies

Item

10.

Remuneration

Paid

Directors,

Officers,

and

Others

Open-End

Management

Investment

Companies

Item

11.

Statement

Regarding

Basis

for

Approval

Investment

Advisory

Contract

Item

Financial

Statements

and

Financial

Highlights

for

Open-End

Management

Investment

Companies

Report

Independent

Registered

Public

Accounting

Firm

the

Board

Directors

Nuveen

Investment

Funds,

Inc.

and

Shareholders

Nuveen

Dividend

Value

Fund,

Nuveen

Large

Cap

Select

Fund,

Nuveen

Mid

Cap

Growth

Opportunities

Fund,

Nuveen

Mid

Cap

Value

Fund,

Nuveen

Small

Cap

Growth

Opportunities

Fund,

Nuveen

Small

Cap

Select

Fund

and

Nuveen

Small

Cap

Value

Fund

Opinions

the

Financial

Statements

have

audited

the

accompanying

statements

assets

and

liabilities,

including

the

portfolios

investments,

Nuveen

Dividend

Value

Fund,

Nuveen

Large

Cap

Select

Fund,

Nuveen

Mid

Cap

Growth

Opportunities

Fund,

Nuveen

Mid

Cap

Value

Fund,

Nuveen

Small

Cap

Growth

Opportunities

Fund,

Nuveen

Small

Cap

Select

Fund

and

Nuveen

Small

Cap

Value

Fund

(seven

the

funds

constituting

Nuveen

Investment

Funds,

Inc.,

hereafter

collectively

referred

the

"Funds")

October

31,

2024,

the

statements

operations

for

the

year

ended

October

31,

2024,

the

statements

changes

net

assets

for

each

the

two

years

the

period

ended

October

31,

2024,

including

the

notes,

and

the

financial

highlights

for

each

the

five

years

the

period

ended

October

31,

2024

(collectively

referred

the

“financial

statements”).

our

opinion,

the

financial

statements

present

fairly,

all

material

respects,

the

financial

position

each

the

Funds

October

31,

2024,

the

results

each

their

operations

for

the

year

then

ended,

the

changes

each

their

net

assets

for

each

the

two

years

the

period

ended

October

31,

2024

and

each

the

financial

highlights

for

each

the

five

years

the

period

ended

October

31,

2024

conformity

with

accounting

principles

generally

accepted

the

United

States

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

the

Funds’

management.

Our

responsibility

express

opinion

the

Funds’

financial

statements

based

our

audits.

are

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

independent

with

respect

the

Funds

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

the

Securities

and

Exchange

Commission

and

the

PCAOB.

conducted

our

audits

these

financial

statements

accordance

with

the

standards

the

PCAOB.

Those

standards

require

that

plan

and

perform

the

audit

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

material

misstatement,

whether

due

error

fraud.

Our

audits

included

performing

procedures

assess

the

risks

material

misstatement

the

financial

statements,

whether

due

error

fraud,

and

performing

procedures

that

respond

those

risks.

Such

procedures

included

examining,

test

basis,

evidence

regarding

the

amounts

and

disclosures

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

management,

well

evaluating

the

overall

presentation

the

financial

statements.

Our

procedures

included

confirmation

securities

owned

October

31,

2024

correspondence

with

the

custodian

and

brokers;

when

replies

were

not

received

from

brokers,

performed

other

auditing

procedures.

believe

that

our

audits

provide

reasonable

basis

for

our

opinions.

/s/

PricewaterhouseCoopers

LLP

Chicago,

Illinois

December 26,

2024

have

served

the

auditor

one

investment

companies

Nuveen

Funds

since

2002.

Portfolio

Investments

October

31,

2024

Dividend

Value

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

99.7%

3249594805

COMMON

STOCKS

3249594805

BANKS

5.7%

911,428

Bank

America

Corp

38,115,919

1,104,652

Citigroup

Inc

70,885,519

1,202,760

Wells

Fargo

78,083,179

TOTAL

BANKS

187,084,617

CAPITAL

GOODS

14.3%

233,754

Dover

Corp

44,256,645

130,618

Eaton

Corp

PLC

43,310,317

518,875

Emerson

Electric

56,178,596

260,405

Honeywell

International

Inc

53,560,100

84,989

Hubbell

Inc

36,292,853

185,536

ITT

Inc

25,997,304

299,156

Johnson

Controls

International

plc

22,601,236

428,630

nVent

Electric

PLC

31,962,939

90,870

Parker-Hannifin

Corp

57,617,941

188,450

Regal

Rexnord

Corp

31,384,463

66,955

Trane

Technologies

PLC

24,784,063

197,785

Westinghouse

Air

Brake

Technologies

Corp

37,179,624

TOTAL

CAPITAL

GOODS

465,126,081

COMMERCIAL

PROFESSIONAL

SERVICES

1.1%

160,588

Waste

Management

Inc

34,662,920

TOTAL

COMMERCIAL

PROFESSIONAL

SERVICES

34,662,920

CONSUMER

SERVICES

0.8%

175,454

(a)

Expedia

Group

Inc

27,425,215

TOTAL

CONSUMER

SERVICES

27,425,215

CONSUMER

STAPLES

DISTRIBUTION

RETAIL

0.8%

168,293

Target

Corp

25,250,682

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

RETAIL

25,250,682

ENERGY

6.6%

462,231

ConocoPhillips

50,632,784

267,528

Diamondback

Energy

Inc

47,290,924

2,341,571

Permian

Resources

Corp

31,915,613

659,924

Shell

PLC,

ADR

44,577,866

302,033

Valero

Energy

Corp

39,191,802

TOTAL

ENERGY

213,608,989

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

7.8%

331,725

Crown

Castle

Inc

35,657,120

190,952

EastGroup

Properties

Inc

32,706,258

189,872

Extra

Space

Storage

Inc

31,006,098

2,037,189

Kimco

Realty

Corp

48,322,123

461,440

Prologis

Inc

52,115,034

1,718,693

VICI

Properties

Inc

54,585,690

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

254,392,323

FINANCIAL

SERVICES

6.2%

442,537

Fidelity

National

Information

Services

Inc

39,708,845

271,823

Intercontinental

Exchange

Inc

42,369,051

323,440

KKR

Inc

44,712,346

624,560

Synchrony

Financial

34,438,238

138,614

Visa

Inc,

Class

40,177,268

TOTAL

FINANCIAL

SERVICES

201,405,748

FOOD,

BEVERAGE

TOBACCO

4.9%

547,597

Mondelez

International

Inc,

Class

37,499,443

231,076

PepsiCo

Inc

38,377,102

625,452

Philip

Morris

International

Inc

82,997,480

TOTAL

FOOD,

BEVERAGE

TOBACCO

158,874,025

Portfolio

Investments

October

31,

2024

(continued)

Dividend

Value

DESCRIPTION

VALUE

HEALTH

CARE

EQUIPMENT

SERVICES

9.3%

211,189

Becton

Dickinson

49,331,638

627,577

(a)

Boston

Scientific

Corp

52,729,020

129,483

Cigna

Group/The

40,762,543

86,772

Elevance

Health

Inc

35,208,607

276,586

(a)

Tenet

Healthcare

Corp

42,876,362

146,820

UnitedHealth

Group

Inc

82,879,890

TOTAL

HEALTH

CARE

EQUIPMENT

SERVICES

303,788,060

INSURANCE

4.3%

227,448

Allstate

Corp/The

42,423,601

930,972

Fidelity

National

Financial

Inc

56,016,585

143,354

Willis

Towers

Watson

PLC

43,320,145

TOTAL

INSURANCE

141,760,331

MATERIALS

1.9%

356,888

DuPont

Nemours

Inc

29,618,135

739,689

Newmont

Corp

33,611,468

TOTAL

MATERIALS

63,229,603

MEDIA

ENTERTAINMENT

3.8%

178,478

Alphabet

Inc,

Class

30,821,366

50,023

Sponsored

ADR

384,129

TOTAL

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

6,119,890

SOFTWARE

SERVICES

11.2%

18,401

Gen

Digital

Inc

535,653

8,845

Microsoft

Corp

3,594,166

4,307

Oracle

Corp

722,887

791

Roper

Technologies

Inc

425,344

TOTAL

SOFTWARE

SERVICES

5,278,050

TECHNOLOGY

HARDWARE

EQUIPMENT

12.8%

17,544

Apple

Inc

3,963,365

5,021

Dell

Technologies

Inc,

Class

620,746

31,356

Hewlett

Packard

Enterprise

611,128

10,721

Inc

380,810

4,031

SYNNEX

Corp

464,976

TOTAL

TECHNOLOGY

HARDWARE

EQUIPMENT

6,041,025

TELECOMMUNICATION

SERVICES

1.4%

29,086

AT&T

Inc

655,598

TOTAL

TELECOMMUNICATION

SERVICES

655,598

TRANSPORTATION

1.1%

8,863

Delta

Air

Lines

Inc

507,141

TOTAL

TRANSPORTATION

507,141

UTILITIES

3.0%

6,934

NextEra

Energy

Inc

549,519

9,600

Southern

Co/The

873,888

TOTAL

UTILITIES

1,423,407

TOTAL

COMMON

STOCKS

(Cost

$33,402,804)

47,038,019

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$33,402,804)

47,038,019

Portfolio

Investments

October

31,

2024

(continued)

Large

Cap

Select

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

0.3%

150,000

REPURCHASE

AGREEMENTS

150,000

(b)

Fixed

Income

Clearing

Corporation

.800

11/01/24

150,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$150,000)

150,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$150,000)

150,000

TOTAL

INVESTMENTS

100

(Cost

33,552,804

)

47,188,019

OTHER

ASSETS

LIABILITIES,

NET

- (0.0)%

(

8,628

)

NET

ASSETS

100%

47,179,391

(a)

Non-income

producing;

issuer

has

not

declared

ex-dividend

date

within

the

past

twelve

months.

(b)

Agreement

with

Fixed

Income

Clearing

Corporation,

4.800%

dated

10/31/24

repurchased

$150,020

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

2.375%

and

maturity

date

11/15/49,

valued

$153,055.

ADR

American

Depositary

Receipt

See

Notes

Financial

Statements

Portfolio

Investments

October

31,

2024

Mid

Cap

Growth

Opportunities

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

97.9%

177457870

COMMON

STOCKS

177457870

AUTOMOBILES

COMPONENTS

1.1%

17,632

(a)

Modine

Manufacturing

2,076,521

TOTAL

AUTOMOBILES

COMPONENTS

2,076,521

BANKS

2.4%

291,697

(a)

Holdings

Ltd/Cayman

Islands,

Class

4,401,708

TOTAL

BANKS

4,401,708

CAPITAL

GOODS

12.0%

12,508

(a)

AeroVironment

Inc

2,688,720

12,940

Applied

Industrial

Technologies

Inc

2,996,775

12,808

(a)

Axon

Enterprise

Inc

5,424,188

57,649

(a)

AZEK

Inc/The

2,536,556

19,438

HEICO

Corp,

Class

3,732,290

18,464

(a)

SPX

Technologies

Inc

2,649,399

10,001

Woodward

Inc

1,641,064

TOTAL

CAPITAL

GOODS

21,668,992

COMMERCIAL

PROFESSIONAL

SERVICES

5.4%

42,847

GFL

Environmental

Inc

1,791,005

62,216

Tetra

Tech

Inc

3,041,118

18,106

Verisk

Analytics

Inc

4,974,080

TOTAL

COMMERCIAL

PROFESSIONAL

SERVICES

9,806,203

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

4.0%

13,255

(a)

Burlington

Stores

Inc

3,284,191

21,811

(a)

Ollie's

Bargain

Outlet

Holdings

Inc

2,002,904

14,935

Williams-Sonoma

Inc

2,003,232

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

7,290,327

CONSUMER

DURABLES

APPAREL

1.1%

18,597

(a)

Crocs

Inc

2,005,128

TOTAL

CONSUMER

DURABLES

APPAREL

2,005,128

CONSUMER

SERVICES

5.5%

12,344

(a)

Cava

Group

Inc

1,648,664

23,242

(a)

Planet

Fitness

Inc

1,824,962

36,974

Red

Rock

Resorts

Inc,

Class

1,902,682

12,683

Texas

Roadhouse

Inc

2,423,975

7,716

Wingstop

Inc

2,219,816

TOTAL

CONSUMER

SERVICES

10,020,099

ENERGY

4.0%

21,087

Cheniere

Energy

Inc

4,035,630

231,871

Permian

Resources

Corp

3,160,402

TOTAL

ENERGY

7,196,032

FINANCIAL

SERVICES

9.3%

11,903

Ameriprise

Financial

Inc

6,074,101

8,412

(a)

Coinbase

Global

Inc,

Class

1,507,851

30,603

FirstCash

Holdings

Inc

3,166,493

6,907

MSCI

Inc

3,945,278

24,621

(a)

Shift4

Payments

Inc,

Class

2,226,723

TOTAL

FINANCIAL

SERVICES

16,920,446

HEALTH

CARE

EQUIPMENT

SERVICES

6.4%

9,426

(a)

Align

Technology

Inc

1,932,613

53,338

(a)

Dexcom

Inc

3,759,262

8,228

(a)

Tenet

Healthcare

Corp

1,275,505

22,011

(a)

Veeva

Systems

Inc,

Class

4,596,557

TOTAL

HEALTH

CARE

EQUIPMENT

SERVICES

11,563,937

INSURANCE

1.4%

5,735

Kinsale

Capital

Group

Inc

2,455,211

TOTAL

INSURANCE

2,455,211

Portfolio

Investments

October

31,

2024

(continued)

Mid

Cap

Growth

Opportunities

DESCRIPTION

VALUE

MATERIALS

3.2%

12,582

Vulcan

Materials

3,446,587

17,228

Westlake

Corp

2,273,063

TOTAL

MATERIALS

5,719,650

MEDIA

ENTERTAINMENT

2.3%

39,000

(a)

Match

Group

Inc

1,405,170

54,751

(a)

ROBLOX

Corp,

Class

2,831,722

TOTAL

MEDIA

ENTERTAINMENT

4,236,892

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

8.0%

145,605

(a)

Elanco

Animal

Health

Inc

1,840,447

29,179

(a)

Immunovant

Inc

853,778

13,446

(a)

Krystal

Biotech

Inc

2,319,838

20,937

(a)

Natera

Inc

2,532,539

10,478

(a)

Repligen

Corp

1,406,881

21,929

(a)

Sarepta

Therapeutics

Inc

2,763,054

7,244

(a)

United

Therapeutics

Corp

2,709,039

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

14,425,576

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

4.3%

40,041

(a)

Lattice

Semiconductor

Corp

2,028,477

5,154

Monolithic

Power

Systems

Inc

3,913,432

9,545

(a)

Onto

Innovation

Inc

1,893,060

TOTAL

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

7,834,969

SOFTWARE

SERVICES

22.4%

130,357

(a)

Confluent

Inc,

Class

3,411,443

6,968

(a)

CyberArk

Software

Ltd

1,926,791

36,270

(a)

Datadog

Inc,

Class

4,549,709

4,097

(a)

HubSpot

Inc

2,272,975

52,778

(a)

Klaviyo

Inc,

Class

2,007,147

11,349

(a)

MongoDB

Inc

3,068,770

73,272

(a)

Palantir

Technologies

Inc,

Class

3,045,184

23,331

(a)

PTC

Inc

4,323,934

49,184

(a)

Rubrik

Inc,

Class

2,029,332

87,280

(a)

SentinelOne

Inc,

Class

2,250,951

48,648

(a)

Trade

Desk

Inc/The,

Class

5,847,976

5,916

(a)

Tyler

Technologies

Inc

3,582,671

12,947

(a)

Zscaler

Inc

2,340,688

TOTAL

SOFTWARE

SERVICES

40,657,571

TECHNOLOGY

HARDWARE

EQUIPMENT

1.4%

38,643

(a)

Ciena

Corp

2,454,217

TOTAL

TECHNOLOGY

HARDWARE

EQUIPMENT

2,454,217

TRANSPORTATION

2.1%

29,240

(a)

XPO

Inc

3,816,697

TOTAL

TRANSPORTATION

3,816,697

UTILITIES

1.6%

23,269

Vistra

Corp

2,907,694

TOTAL

UTILITIES

2,907,694

TOTAL

COMMON

STOCKS

(Cost

$141,004,111)

177,457,870

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$141,004,111)

177,457,870

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

2.4%

4397998

REPURCHASE

AGREEMENTS

4397998

4,250,000

(b)

Fixed

Income

Clearing

Corporation

.800

11/01/24

4,250,000

147,998

(c)

Fixed

Income

Clearing

Corporation

.520

11/01/24

147,998

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$4,397,998)

4,397,998

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$4,397,998)

4,397,998

TOTAL

INVESTMENTS

100

(Cost

145,402,109

)

181,855,868

OTHER

ASSETS

LIABILITIES,

NET

- (0.3)%

(

574,770

)

NET

ASSETS

100%

181,281,098

(a)

Non-income

producing;

issuer

has

not

declared

ex-dividend

date

within

the

past

twelve

months.

(b)

Agreement

with

Fixed

Income

Clearing

Corporation,

4.800%

dated

10/31/24

repurchased

$4,250,567

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

2.375%

and

maturity

date

11/15/49,

valued

$4,335,013.

(c)

Agreement

with

Fixed

Income

Clearing

Corporation,

1.520%

dated

10/31/24

repurchased

$148,004

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

3.875%

and

maturity

date

10/15/27,

valued

$151,001.

See

Notes

Financial

Statements

Portfolio

Investments

October

31,

2024

Mid

Cap

Value

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

100.1%

445207723

COMMON

STOCKS

100

445207723

BANKS

3.9%

83,025

East

West

Bancorp

Inc

8,094,107

214,223

Fifth

Third

Bancorp

9,357,261

TOTAL

BANKS

17,451,368

CAPITAL

GOODS

16.8%

16,670

Carlisle

Cos

Inc

7,038,574

106,580

Carrier

Global

Corp

7,750,497

44,820

Crane

7,049,290

23,470

Hubbell

Inc

10,022,394

33,342

L3Harris

Technologies

Inc

8,251,145

101,782

nVent

Electric

PLC

7,589,884

50,744

Owens

Corning

8,971,032

13,562

Parker-Hannifin

Corp

8,599,257

49,156

WESCO

International

Inc

9,436,477

TOTAL

CAPITAL

GOODS

74,708,550

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

1.2%

33,700

(a)

AutoNation

Inc

5,239,339

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

5,239,339

CONSUMER

DURABLES

APPAREL

6.3%

61,681

Brunswick

Corp/DE

4,918,443

39,590

Horton

Inc

6,690,710

28,688

Ralph

Lauren

Corp

5,678,216

97,233

(a)

Skechers

USA

Inc,

Class

5,975,940

44,580

Whirlpool

Corp

4,614,476

TOTAL

CONSUMER

DURABLES

APPAREL

27,877,785

CONSUMER

SERVICES

2.7%

40,037

Darden

Restaurants

Inc

6,406,721

119,281

Travel

Leisure

5,702,824

TOTAL

CONSUMER

SERVICES

12,109,545

ENERGY

6.7%

186,926

Baker

Hughes

7,118,142

44,415

Diamondback

Energy

Inc

7,851,240

379,508

Permian

Resources

Corp

5,172,694

29,074

Valero

Energy

Corp

3,772,642

114,003

Williams

Cos

Inc/The

5,970,337

TOTAL

ENERGY

29,885,055

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

9.8%

360,097

Apple

Hospitality

REIT

Inc

5,318,633

17,876

AvalonBay

Communities

Inc

3,961,500

47,199

Digital

Realty

Trust

Inc

8,412,278

121,508

EPR

Properties

5,512,818

136,799

Invitation

Homes

Inc

4,296,857

64,399

Regency

Centers

Corp

4,600,665

143,758

STAG

Industrial

Inc

5,359,298

188,122

Weyerhaeuser

5,861,881

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

43,323,930

FINANCIAL

SERVICES

9.5%

8,783

Ameriprise

Financial

Inc

4,481,965

141,664

Jefferies

Financial

Group

Inc

9,063,663

133,488

OneMain

Holdings

Inc

6,630,349

205,265

Radian

Group

Inc

7,165,801

73,838

Raymond

James

Financial

Inc

10,944,268

50,156

Voya

Financial

Inc

4,027,527

TOTAL

FINANCIAL

SERVICES

42,313,573

FOOD,

BEVERAGE

TOBACCO

1.0%

51,190

Bunge

Global

4,300,984

TOTAL

FOOD,

BEVERAGE

TOBACCO

4,300,984

DESCRIPTION

VALUE

HEALTH

CARE

EQUIPMENT

SERVICES

2.3%

47,721

(a)

Centene

Corp

2,971,109

8,207

Humana

Inc

2,116,011

225,665

(a)

Option

Care

Health

Inc

5,199,322

TOTAL

HEALTH

CARE

EQUIPMENT

SERVICES

10,286,442

INSURANCE

5.3%

88,378

(a)

Arch

Capital

Group

Ltd

8,710,536

18,245

Everest

Group

Ltd

6,488,104

39,377

Reinsurance

Group

America

Inc

8,311,697

TOTAL

INSURANCE

23,510,337

MATERIALS

6.3%

91,376

DuPont

Nemours

Inc

7,583,294

42,135

Nucor

Corp

5,976,429

26,028

Reliance

Inc

7,452,858

54,010

Westlake

Corp

7,126,079

TOTAL

MATERIALS

28,138,660

MEDIA

ENTERTAINMENT

1.3%

36,715

(a)

Take-Two

Interactive

Software

Inc

5,937,550

TOTAL

MEDIA

ENTERTAINMENT

5,937,550

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

6.3%

66,941

(a)

BioMarin

Pharmaceutical

Inc

4,410,743

335,410

(a)

Elanco

Animal

Health

Inc

4,239,582

202,238

(a)

Exelixis

Inc

6,714,302

43,526

(a)

Jazz

Pharmaceuticals

PLC

4,789,166

20,754

(a)

United

Therapeutics

Corp

7,761,373

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

27,915,166

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

2.6%

62,943

Marvell

Technology

Inc

5,042,364

88,920

Microchip

Technology

Inc

6,524,060

TOTAL

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

11,566,424

SOFTWARE

SERVICES

3.4%

29,345

(a)

Check

Point

Software

Technologies

Ltd

5,082,847

10,081

Roper

Technologies

Inc

5,420,856

26,608

(a)

VeriSign

Inc

4,705,359

TOTAL

SOFTWARE

SERVICES

15,209,062

TECHNOLOGY

HARDWARE

EQUIPMENT

5.2%

89,569

(a)

Ciena

Corp

5,688,527

82,945

Crane

NXT

4,501,425

275,673

Hewlett

Packard

Enterprise

5,372,867

66,869

SYNNEX

Corp

7,713,339

TOTAL

TECHNOLOGY

HARDWARE

EQUIPMENT

23,276,158

TRANSPORTATION

1.6%

52,033

TFI

International

Inc

6,963,056

TOTAL

TRANSPORTATION

6,963,056

UTILITIES

7.9%

127,374

Alliant

Energy

Corp

7,642,440

74,214

Ameren

Corp

6,464,781

71,948

American

Electric

Power

Inc

7,104,865

92,165

CMS

Energy

Corp

6,415,606

180,900

FirstEnergy

Corp

7,567,047

TOTAL

UTILITIES

35,194,739

TOTAL

COMMON

STOCKS

(Cost

$314,899,784)

445,207,723

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$314,899,784)

445,207,723

Portfolio

Investments

October

31,

2024

(continued)

Mid

Cap

Value

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

0.1%

350,000

REPURCHASE

AGREEMENTS

350,000

(b)

Fixed

Income

Clearing

Corporation

.800

11/01/24

350,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$350,000)

350,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$350,000)

350,000

TOTAL

INVESTMENTS

100

(Cost

315,249,784

)

445,557,723

OTHER

ASSETS

LIABILITIES,

NET

- (0.2)%

(

1,059,746

)

NET

ASSETS

100%

444,497,977

(a)

Non-income

producing;

issuer

has

not

declared

ex-dividend

date

within

the

past

twelve

months.

(b)

Agreement

with

Fixed

Income

Clearing

Corporation,

4.800%

dated

10/31/24

repurchased

$350,047

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

2.375%

and

maturity

date

11/15/49,

valued

$357,083.

REIT

Real

Estate

Investment

Trust

See

Notes

Financial

Statements

Portfolio

Investments

October

31,

2024

Small

Cap

Growth

Opportunities

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

99.1%

236773848

COMMON

STOCKS

236773848

AUTOMOBILES

COMPONENTS

1.3%

27,445

(a)

Modine

Manufacturing

3,232,198

TOTAL

AUTOMOBILES

COMPONENTS

3,232,198

BANKS

2.4%

44,177

Ameris

Bancorp

2,738,532

34,292

Preferred

Bank/Los

Angeles

2,893,216

TOTAL

BANKS

5,631,748

CAPITAL

GOODS

15.9%

24,565

AAON

Inc

2,805,814

18,884

(a)

AeroVironment

Inc

4,059,305

19,986

Applied

Industrial

Technologies

Inc

4,628,558

26,992

Atkore

Inc

2,314,834

70,816

(a)

AZEK

Inc/The

3,115,904

41,688

AZZ

Inc

3,175,792

20,254

(a)

Chart

Industries

Inc

2,445,063

31,854

ESCO

Technologies

Inc

3,998,951

81,088

(a)

Fluor

Corp

4,239,281

134,298

(a)

Kratos

Defense

Security

Solutions

Inc

3,051,250

28,348

(a)

SPX

Technologies

Inc

4,067,654

TOTAL

CAPITAL

GOODS

37,902,406

COMMERCIAL

PROFESSIONAL

SERVICES

6.2%

31,708

Brink's

Co/The

3,259,265

34,360

(a)

Casella

Waste

Systems

Inc,

Class

3,363,157

107,916

(a)

ExlService

Holdings

Inc

4,496,860

43,296

Maximus

Inc

3,742,506

TOTAL

COMMERCIAL

PROFESSIONAL

SERVICES

14,861,788

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

3.2%

22,620

(a)

Abercrombie

Fitch

Co,

Class

2,981,090

18,832

(a)

Boot

Barn

Holdings

Inc

2,345,526

26,399

(a)

Ollie's

Bargain

Outlet

Holdings

Inc

2,424,220

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

7,750,836

CONSUMER

DURABLES

APPAREL

2.5%

73,399

Steven

Madden

Ltd

3,300,753

66,342

(a)

Tri

Pointe

Homes

Inc

2,682,207

TOTAL

CONSUMER

DURABLES

APPAREL

5,982,960

CONSUMER

SERVICES

4.1%

24,677

(a)

Planet

Fitness

Inc

1,937,638

49,868

Red

Rock

Resorts

Inc,

Class

2,566,207

23,251

(a)

Shake

Shack

Inc,

Class

2,828,949

71,019

(a)

Sweetgreen

Inc,

Class

2,563,786

TOTAL

CONSUMER

SERVICES

9,896,580

CONSUMER

STAPLES

DISTRIBUTION

RETAIL

2.2%

40,292

(a)

Sprouts

Farmers

Market

Inc

5,174,702

TOTAL

CONSUMER

STAPLES

DISTRIBUTION

RETAIL

5,174,702

ENERGY

3.0%

45,578

Matador

Resources

2,375,070

55,187

Noble

Corp

PLC

1,764,880

82,220

Northern

Oil

Gas

Inc

2,980,475

TOTAL

ENERGY

7,120,425

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

1.8%

19,375

EastGroup

Properties

Inc

3,318,550

180,710

Summit

Hotel

Properties

Inc

1,105,945

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

4,424,495

FINANCIAL

SERVICES

3.6%

19,847

Evercore

Inc

5,242,982

32,096

FirstCash

Holdings

Inc

3,320,973

TOTAL

FINANCIAL

SERVICES

8,563,955

Portfolio

Investments

October

31,

2024

(continued)

Small

Cap

Growth

Opportunities

DESCRIPTION

VALUE

HEALTH

CARE

EQUIPMENT

SERVICES

15.4%

28,027

(a)

Addus

HomeCare

Corp

3,487,119

326,563

(a)

Alphatec

Holdings

Inc

2,563,520

41,541

Encompass

Health

Corp

4,131,668

21,852

Ensign

Group

Inc/The

3,386,842

51,905

(a),(b)

Establishment

Labs

Holdings

Inc

2,236,586

26,765

(a)

Glaukos

Corp

3,539,671

50,660

(a)

HealthEquity

Inc

4,318,765

36,739

(a)

Lantheus

Holdings

Inc

4,035,412

36,224

(a)

PROCEPT

BioRobotics

Corp

3,260,160

53,752

(a)

RadNet

Inc

3,496,030

177,605

(a)

SI-BONE

Inc

2,450,949

TOTAL

HEALTH

CARE

EQUIPMENT

SERVICES

36,906,722

HOUSEHOLD

PERSONAL

PRODUCTS

1.1%

40,857

(a)

BellRing

Brands

Inc

2,689,616

TOTAL

HOUSEHOLD

PERSONAL

PRODUCTS

2,689,616

INSURANCE

1.0%

26,230

(a)

Palomar

Holdings

Inc

2,354,667

TOTAL

INSURANCE

2,354,667

MATERIALS

3.7%

50,814

Commercial

Metals

2,733,793

15,690

Quaker

Chemical

Corp

2,378,290

80,944

(a)

Summit

Materials

Inc,

Class

3,837,555

TOTAL

MATERIALS

8,949,638

MEDIA

ENTERTAINMENT

1.7%

320,137

(a)

Magnite

Inc

3,995,310

591,081

(a),(c)

Videopropulsion

Inc

5,911

TOTAL

MEDIA

ENTERTAINMENT

4,001,221

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

9.4%

28,605

(a)

Biohaven

Ltd

1,423,385

16,949

(a)

Blueprint

Medicines

Corp

1,483,207

44,616

(a)

Crinetics

Pharmaceuticals

Inc

2,496,711

54,156

(a)

Halozyme

Therapeutics

Inc

2,738,669

56,129

(a)

Immunovant

Inc

1,642,335

43,093

(a)

Insmed

Inc

2,899,297

10,030

(a)

Krystal

Biotech

Inc

1,730,476

4,970

(a)

Madrigal

Pharmaceuticals

Inc

1,288,920

20,510

(a)

Mirum

Pharmaceuticals

Inc

788,815

32,005

(a)

REVOLUTION

Medicines

Inc

1,712,267

33,998

(a)

Twist

Bioscience

Corp

1,372,159

27,684

(a)

Vaxcyte

Inc

2,944,193

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

22,520,434

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

3.7%

85,712

(a)

Credo

Technology

Group

Holding

Ltd

3,231,342

14,159

(a)

Onto

Innovation

Inc

2,808,154

25,960

(a)

Silicon

Laboratories

Inc

2,696,206

TOTAL

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

8,735,702

SOFTWARE

SERVICES

12.9%

30,442

(a)

Agilysys

Inc

3,045,418

15,604

(a)

CommVault

Systems

Inc

2,437,189

182,895

(a)

Grid

Dynamics

Holdings

Inc

2,911,688

76,306

(a)

JFrog

Ltd

2,226,609

87,696

(a)

nCino

OpCo

Inc

3,271,061

40,034

(a)

Holdings

Inc

3,389,279

73,720

(a)

Rubrik

Inc,

Class

3,041,687

73,265

(a)

Varonis

Systems

Inc

3,690,358

45,157

(a)

Workiva

Inc

3,601,722

112,032

(a)

Zeta

Global

Holdings

Corp,

Class

3,101,046

TOTAL

SOFTWARE

SERVICES

30,716,057

DESCRIPTION

VALUE

TECHNOLOGY

HARDWARE

EQUIPMENT

2.7%

14,303

(a)

Fabrinet

3,446,594

45,677

(a)

Lumentum

Holdings

Inc

2,917,390

TOTAL

TECHNOLOGY

HARDWARE

EQUIPMENT

6,363,984

TRANSPORTATION

1.3%

6,127

(a)

Saia

Inc

2,993,714

TOTAL

TRANSPORTATION

2,993,714

TOTAL

COMMON

STOCKS

(Cost

$185,591,096)

236,773,848

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$185,591,096)

236,773,848

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

0.6%

1,566,886

(d)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.860

(e)

1,566,886

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$1,566,886)

1,566,886

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

0.8%

1,875,000

REPURCHASE

AGREEMENTS

1,875,000

(f)

Fixed

Income

Clearing

Corporation

.800

11/01/24

1,875,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$1,875,000)

1,875,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$1,875,000)

1,875,000

TOTAL

INVESTMENTS

100

(Cost

189,032,982

)

240,215,734

OTHER

ASSETS

LIABILITIES,

NET

- (0.5)%

(

1,268,732

)

NET

ASSETS

100%

238,947,002

(a)

Non-income

producing;

issuer

has

not

declared

ex-dividend

date

within

the

past

twelve

months.

(b)

Investment,

portion

investment,

out

loan

for

securities

lending.

The

total

value

the

securities

out

loan

the

end

the

reporting

period

was

$1,453,770.

(c)

For

fair

value

measurement

disclosure

purposes,

investment

classified

Level

(d)

The

Fund

may

loan

securities

representing

one

third

the

value

its

total

assets

(which

includes

collateral

for

securities

loan)

broker

dealers,

banks,

and

other

institutions.

The

collateral

maintained

the

Fund

shall

have

value,

the

inception

each

loan,

equal

not

less

than

100%

the

value

the

loaned

securities.

The

cash

collateral

received

the

Fund

invested

this

money

market

fund.

(e)

The

rate

shown

the

one-day

yield

the

end

the

reporting

period.

(f)

Agreement

with

Fixed

Income

Clearing

Corporation,

4.800%

dated

10/31/24

repurchased

$1,875,250

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

4.000%

and

maturity

date

11/15/42,

valued

$1,912,508.

See

Notes

Financial

Statements

Portfolio

Investments

October

31,

2024

Small

Cap

Select

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

99.1%

141980378

COMMON

STOCKS

141980378

AUTOMOBILES

COMPONENTS

1.6%

58,313

Atmus

Filtration

Technologies

Inc

2,270,708

TOTAL

AUTOMOBILES

COMPONENTS

2,270,708

BANKS

10.8%

39,730

Banner

Corp

2,544,309

69,313

First

Interstate

BancSystem

Inc,

Class

2,134,840

70,296

Home

BancShares

Inc/AR

1,918,378

21,342

Preferred

Bank/Los

Angeles

1,800,625

27,314

SouthState

Corp

2,663,935

43,944

Veritex

Holdings

Inc

1,186,488

29,708

Wintrust

Financial

Corp

3,442,860

TOTAL

BANKS

15,691,435

CAPITAL

GOODS

13.4%

9,827

(a)

AeroVironment

Inc

2,112,412

10,131

Applied

Industrial

Technologies

Inc

2,346,238

24,053

Arcosa

Inc

2,252,323

11,618

Enpro

Inc

1,691,697

18,074

ESCO

Technologies

Inc

2,269,010

45,810

(a)

Fluor

Corp

2,394,947

197,301

(a)

Hillman

Solutions

Corp

2,091,390

88,944

(a)

Kratos

Defense

Security

Solutions

Inc

2,020,808

15,635

(a)

SPX

Technologies

Inc

2,243,466

TOTAL

CAPITAL

GOODS

19,422,291

COMMERCIAL

PROFESSIONAL

SERVICES

3.1%

5,892

(a)

ASGN

Inc

542,653

22,940

Maximus

Inc

1,982,934

40,706

(a)

WNS

Holdings

Ltd

1,953,481

TOTAL

COMMERCIAL

PROFESSIONAL

SERVICES

4,479,068

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

1.3%

19,866

Signet

Jewelers

Ltd

1,821,315

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

1,821,315

CONSUMER

DURABLES

APPAREL

2.8%

45,080

Steven

Madden

Ltd

2,027,248

48,698

(a)

Tri

Pointe

Homes

Inc

1,968,860

TOTAL

CONSUMER

DURABLES

APPAREL

3,996,108

CONSUMER

SERVICES

4.2%

29,655

Boyd

Gaming

Corp

2,054,795

124,382

(a)

Everi

Holdings

Inc

1,658,012

19,229

(a)

Shake

Shack

Inc,

Class

2,339,592

TOTAL

CONSUMER

SERVICES

6,052,399

ENERGY

4.2%

34,157

Matador

Resources

1,779,921

26,045

Noble

Corp

PLC

832,919

71,882

Northern

Oil

Gas

Inc

2,605,723

30,509

(a)

Vital

Energy

Inc

831,980

TOTAL

ENERGY

6,050,543

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

3.3%

11,598

EastGroup

Properties

Inc

1,986,505

55,539

STAG

Industrial

Inc

2,070,494

128,181

Summit

Hotel

Properties

Inc

784,468

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

4,841,467

FINANCIAL

SERVICES

6.6%

11,619

Evercore

Inc

3,069,391

23,117

FirstCash

Holdings

Inc

2,391,916

119,718

Ladder

Capital

Corp

1,365,983

9,814

Piper

Sandler

Cos

2,783,643

TOTAL

FINANCIAL

SERVICES

9,610,933

DESCRIPTION

VALUE

FOOD,

BEVERAGE

TOBACCO

1.8%

96,594

Primo

Water

Corp

2,533,661

TOTAL

FOOD,

BEVERAGE

TOBACCO

2,533,661

HEALTH

CARE

EQUIPMENT

SERVICES

11.4%

23,652

(a)

Acadia

Healthcare

Inc

1,009,704

58,247

(a)

Alphatec

Holdings

Inc

457,239

22,169

Encompass

Health

Corp

2,204,929

30,629

(a),(b)

Establishment

Labs

Holdings

Inc

1,319,804

12,541

(a)

Glaukos

Corp

1,658,547

52,904

(a)

Guardian

Pharmacy

Services

Inc,

Class

947,511

28,294

(a)

HealthEquity

Inc

2,412,063

22,666

(a)

Merit

Medical

Systems

Inc

2,236,227

37,250

(a)

Option

Care

Health

Inc

858,240

24,425

(a)

RadNet

Inc

1,588,602

76,389

(a)

SI-BONE

Inc

1,054,168

47,604

(a)

Tactile

Systems

Technology

Inc

690,734

TOTAL

HEALTH

CARE

EQUIPMENT

SERVICES

16,437,768

HOUSEHOLD

PERSONAL

PRODUCTS

1.1%

23,916

(a)

BellRing

Brands

Inc

1,574,390

TOTAL

HOUSEHOLD

PERSONAL

PRODUCTS

1,574,390

INSURANCE

0.9%

4,841

Primerica

Inc

1,340,037

TOTAL

INSURANCE

1,340,037

MATERIALS

5.5%

41,172

Avient

Corp

1,919,027

38,154

Commercial

Metals

2,052,685

50,283

(a)

Summit

Materials

Inc,

Class

2,383,917

134,796

Tronox

Holdings

PLC

1,633,728

TOTAL

MATERIALS

7,989,357

MEDIA

ENTERTAINMENT

2.5%

176,938

(a)

Magnite

Inc

2,208,186

31,659

(a)

Ziff

Davis

Inc

1,464,862

TOTAL

MEDIA

ENTERTAINMENT

3,673,048

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

5.1%

12,291

(a)

Biohaven

Ltd

611,600

5,083

(a)

Blueprint

Medicines

Corp

444,813

19,568

(a)

Crinetics

Pharmaceuticals

Inc

1,095,025

20,392

(a)

Halozyme

Therapeutics

Inc

1,031,224

23,983

(a)

Immunovant

Inc

701,743

13,954

(a)

Insmed

Inc

938,825

5,963

(a)

Krystal

Biotech

Inc

1,028,796

2,409

(a)

Madrigal

Pharmaceuticals

Inc

624,750

8,729

(a)

Vaxcyte

Inc

928,329

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

7,405,105

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

2.9%

50,376

(a)

Ichor

Holdings

Ltd

1,373,250

7,904

(a)

Onto

Innovation

Inc

1,567,600

12,551

(a)

Silicon

Laboratories

Inc

1,303,547

TOTAL

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

4,244,397

SOFTWARE

SERVICES

7.9%

7,908

(a)

CommVault

Systems

Inc

1,235,151

13,911

(a)

Envestnet

Inc

873,333

127,470

(a)

Grid

Dynamics

Holdings

Inc

2,029,322

38,542

(a)

JFrog

Ltd

1,124,656

25,115

(a)

Holdings

Inc

2,126,236

46,455

(a)

Rubrik

Inc,

Class

1,916,733

25,990

(a)

Workiva

Inc

2,072,962

TOTAL

SOFTWARE

SERVICES

11,378,393

Portfolio

Investments

October

31,

2024

(continued)

Small

Cap

Select

DESCRIPTION

VALUE

TECHNOLOGY

HARDWARE

EQUIPMENT

3.7%

14,185

(a)

Itron

Inc

1,585,316

28,657

(a)

Lumentum

Holdings

Inc

1,830,323

12,341

(a)

PAR

Technology

Corp

727,995

55,334

(a)

TTM

Technologies

Inc

1,241,695

TOTAL

TECHNOLOGY

HARDWARE

EQUIPMENT

5,385,329

TRANSPORTATION

1.8%

15,677

ArcBest

Corp

1,633,230

8,732

(a)

Kirby

Corp

1,002,084

TOTAL

TRANSPORTATION

2,635,314

UTILITIES

2.2%

32,018

Black

Hills

Corp

1,895,145

19,608

Spire

Inc

1,252,167

TOTAL

UTILITIES

3,147,312

TOTAL

COMMON

STOCKS

(Cost

$111,330,253)

141,980,378

DESCRIPTION

VALUE

INVESTMENT

COMPANIES

1.0%

–

14,591

SPDR

S&P

Biotech

ETF

1,415,765

TOTAL

INVESTMENT

COMPANIES

(Cost

$1,203,936)

1,415,765

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$112,534,189)

143,396,143

DESCRIPTION

RATE

VALUE

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

0.8%

1,124,887

(c)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.860

(d)

1,124,887

TOTAL

INVESTMENTS

PURCHASED

WITH

COLLATERAL

FROM

SECURITIES

LENDING

(Cost

$1,124,887)

1,124,887

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

2.2%

3147038

REPURCHASE

AGREEMENTS

3147038

122,038

(e)

Fixed

Income

Clearing

Corporation

.520

11/01/24

122,038

3,025,000

(f)

Fixed

Income

Clearing

Corporation

.800

11/01/24

3,025,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$3,147,038)

3,147,038

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$3,147,038)

3,147,038

TOTAL

INVESTMENTS

102

(Cost

116,806,114

)

147,668,068

OTHER

ASSETS

LIABILITIES,

NET

- (2.1)%

(

2,981,970

)

NET

ASSETS

100%

144,686,098

(a)

Non-income

producing;

issuer

has

not

declared

ex-dividend

date

within

the

past

twelve

months.

(b)

Investment,

portion

investment,

out

loan

for

securities

lending.

The

total

value

the

securities

out

loan

the

end

the

reporting

period

was

$1,049,371.

(c)

The

Fund

may

loan

securities

representing

one

third

the

value

its

total

assets

(which

includes

collateral

for

securities

loan)

broker

dealers,

banks,

and

other

institutions.

The

collateral

maintained

the

Fund

shall

have

value,

the

inception

each

loan,

equal

not

less

than

100%

the

value

the

loaned

securities.

The

cash

collateral

received

the

Fund

invested

this

money

market

fund.

(d)

The

rate

shown

the

one-day

yield

the

end

the

reporting

period.

(e)

Agreement

with

Fixed

Income

Clearing

Corporation,

1.520%

dated

10/31/24

repurchased

$122,043

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

4.000%

and

maturity

date

6/30/28,

valued

$124,589.

(f)

Agreement

with

Fixed

Income

Clearing

Corporation,

4.800%

dated

10/31/24

repurchased

$3,025,403

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

4.000%

and

maturity

date

11/15/42,

valued

$3,085,632.

ETF

Exchange-Traded

Fund

S&P

Standard

Poor's

SPDR

Standard

Poor's

Depositary

Receipt

See

Notes

Financial

Statements

Portfolio

Investments

October

31,

2024

Small

Cap

Value

DESCRIPTION

VALUE

LONG-TERM

INVESTMENTS

100.0%

418798121

COMMON

STOCKS

100

418798121

AUTOMOBILES

COMPONENTS

0.5%

285,569

Dana

Inc

2,190,314

TOTAL

AUTOMOBILES

COMPONENTS

2,190,314

BANKS

18.1%

127,370

Ameris

Bancorp

7,895,666

136,724

Banner

Corp

8,755,805

126,140

Cathay

General

Bancorp

5,799,917

259,048

ConnectOne

Bancorp

Inc

6,279,324

194,793

First

Interstate

BancSystem

Inc,

Class

5,999,624

183,281

First

Merchants

Corp

6,790,561

116,193

Heartland

Financial

USA

Inc

6,913,484

349,129

OceanFirst

Financial

Corp

6,354,148

70,847

Pinnacle

Financial

Partners

Inc

7,470,816

81,823

Preferred

Bank/Los

Angeles

6,903,407

58,523

Wintrust

Financial

Corp

6,782,230

TOTAL

BANKS

75,944,982

CAPITAL

GOODS

8.7%

42,173

EnerSys

4,084,877

49,026

ESCO

Technologies

Inc

6,154,724

134,667

Hillenbrand

Inc

3,710,076

591,906

(a)

Hillman

Solutions

Corp

6,274,203

32,397

(a)

Parsons

Corp

3,504,059

301,116

(a)

Resideo

Technologies

Inc

5,922,952

35,404

WESCO

International

Inc

6,796,506

TOTAL

CAPITAL

GOODS

36,447,397

COMMERCIAL

PROFESSIONAL

SERVICES

4.3%

239,331

Deluxe

Corp

4,489,850

75,650

Korn

Ferry

5,344,672

36,804

Maximus

Inc

3,181,338

100,977

(a)

WNS

Holdings

Ltd

4,845,886

TOTAL

COMMERCIAL

PROFESSIONAL

SERVICES

17,861,746

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

1.5%

17,325

Group

Automotive

Inc

6,311,844

TOTAL

CONSUMER

DISCRETIONARY

DISTRIBUTION

RETAIL

6,311,844

CONSUMER

DURABLES

APPAREL

5.1%

170,776

La-Z-Boy

Inc

6,498,027

38,710

(a)

M/I

Homes

Inc

5,868,049

102,589

Steven

Madden

Ltd

4,613,427

41,850

Whirlpool

Corp

4,331,894

TOTAL

CONSUMER

DURABLES

APPAREL

21,311,397

CONSUMER

SERVICES

1.9%

71,403

Dine

Brands

Global

Inc

2,173,507

60,121

(a)

Stride

Inc

5,608,087

TOTAL

CONSUMER

SERVICES

7,781,594

ENERGY

6.9%

91,866

Civitas

Resources

Inc

4,482,142

140,651

(a)

CNX

Resources

Corp

4,786,354

262,559

Magnolia

Oil

Gas

Corp,

Class

6,637,492

92,830

Noble

Corp

PLC

2,968,703

187,145

Northern

Oil

Gas

Inc

6,784,006

445,239

(a)

ProPetro

Holding

Corp

3,076,601

TOTAL

ENERGY

28,735,298

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

8.0%

271,801

Apple

Hospitality

REIT

Inc

4,014,501

66,116

Centerspace

4,605,640

202,024

COPT

Defense

Properties

6,505,173

87,326

EPR

Properties

3,961,981

141,906

Getty

Realty

Corp

4,454,429

DESCRIPTION

VALUE

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

(continued)

595,578

LXP

Industrial

Trust

5,622,256

117,831

STAG

Industrial

Inc

4,392,740

TOTAL

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

33,556,720

FINANCIAL

SERVICES

8.0%

545,353

Ladder

Capital

Corp

6,222,478

98,478

OneMain

Holdings

Inc

4,891,402

25,438

Piper

Sandler

Cos

7,215,234

206,741

Radian

Group

Inc

7,217,328

75,109

Stifel

Financial

Corp

7,782,795

TOTAL

FINANCIAL

SERVICES

33,329,237

FOOD,

BEVERAGE

TOBACCO

1.6%

248,633

Primo

Water

Corp

6,521,644

TOTAL

FOOD,

BEVERAGE

TOBACCO

6,521,644

HEALTH

CARE

EQUIPMENT

SERVICES

3.4%

56,650

(a)

Acadia

Healthcare

Inc

2,418,388

47,931

Encompass

Health

Corp

4,767,217

76,540

(a)

Enovis

Corp

3,158,806

168,614

(a)

Option

Care

Health

Inc

3,884,867

TOTAL

HEALTH

CARE

EQUIPMENT

SERVICES

14,229,278

INSURANCE

4.8%

243,235

(a)

Hamilton

Insurance

Group

Ltd,

Class

4,237,154

33,312

Kemper

Corp

2,074,338

22,760

Primerica

Inc

6,300,196

106,083

Stewart

Information

Services

Corp

7,298,510

TOTAL

INSURANCE

19,910,198

MATERIALS

5.9%

116,337

Commercial

Metals

6,258,931

586,876

(a)

Ecovyst

Inc

3,908,594

86,820

(a)

Knife

River

Corp

8,449,323

80,615

Minerals

Technologies

Inc

6,069,503

TOTAL

MATERIALS

24,686,351

MEDIA

ENTERTAINMENT

2.1%

444,852

(a)

Magnite

Inc

5,551,753

67,575

(a)

Ziff

Davis

Inc

3,126,695

TOTAL

MEDIA

ENTERTAINMENT

8,678,448

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

4.1%

114,912

(a)

Alkermes

PLC

2,953,238

156,577

(a)

Exelixis

Inc

5,198,356

105,306

(a)

Immunovant

Inc

3,081,254

15,574

(a)

Krystal

Biotech

Inc

2,686,982

45,762

(a)

Prestige

Consumer

Healthcare

Inc

3,374,948

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

LIFE

SCIENCES

17,294,778

REAL

ESTATE

MANAGEMENT

DEVELOPMENT

0.9%

368,264

Kennedy-Wilson

Holdings

Inc

3,936,742

TOTAL

REAL

ESTATE

MANAGEMENT

DEVELOPMENT

3,936,742

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

1.4%

222,348

(a)

MaxLinear

Inc

2,883,854

111,396

(a)

Veeco

Instruments

Inc

3,205,977

TOTAL

SEMICONDUCTORS

SEMICONDUCTOR

EQUIPMENT

6,089,831

SOFTWARE

SERVICES

3.5%

26,695

(a)

CommVault

Systems

Inc

4,169,492

91,627

(a)

Holdings

Inc

7,757,142

128,280

(a)

Verint

Systems

Inc

2,732,364

TOTAL

SOFTWARE

SERVICES

14,658,998

TECHNOLOGY

HARDWARE

EQUIPMENT

4.0%

92,931

Crane

NXT

5,043,365

399,085

(a)

Harmonic

Inc

4,425,853

28,648

(a)

Plexus

Corp

4,128,177

461,017

(a)

Stratasys

Ltd

3,296,271

TOTAL

TECHNOLOGY

HARDWARE

EQUIPMENT

16,893,666

Portfolio

Investments

October

31,

2024

(continued)

Small

Cap

Value

DESCRIPTION

VALUE

TRANSPORTATION

1.1%

170,619

Schneider

National

Inc,

Class

4,825,105

TOTAL

TRANSPORTATION

4,825,105

UTILITIES

4.2%

92,581

Black

Hills

Corp

5,479,869

45,192

ONE

Gas

Inc

3,220,834

60,015

Otter

Tail

Corp

4,712,378

65,604

Spire

Inc

4,189,472

TOTAL

UTILITIES

17,602,553

TOTAL

COMMON

STOCKS

(Cost

$326,235,865)

418,798,121

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$326,235,865)

418,798,121

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

0.1%

250,000

REPURCHASE

AGREEMENTS

250,000

(b)

Fixed

Income

Clearing

Corporation

.800

11/01/24

250,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$250,000)

250,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$250,000)

250,000

TOTAL

INVESTMENTS

100

(Cost

326,485,865

)

419,048,121

OTHER

ASSETS

LIABILITIES,

NET

- (0.1)%

(

425,464

)

NET

ASSETS

100%

418,622,657

(a)

Non-income

producing;

issuer

has

not

declared

ex-dividend

date

within

the

past

twelve

months.

(b)

Agreement

with

Fixed

Income

Clearing

Corporation,

4.800%

dated

10/31/24

repurchased

$250,033

11/1/24,

collateralized

Government

Agency

Securities,

with

coupon

rate

2.375%

and

maturity

date

11/15/49,

valued

$255,001.

REIT

Real

Estate

Investment

Trust

See

Notes

Financial

Statements

Statement

Assets

and

Liabilities

See

Notes

Financial

Statements

October

31,

2024

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Small

Cap

Growth

Opportunities

ASSETS

Long-term

investments,

value

†‡

3,249,594,805‌

47,038,019‌

177,457,870‌

445,207,723‌

236,773,848‌

Investments

purchased

with

collateral

from

securities

lending,

value

(cost

approximates

value)

–‌

1,566,886‌

Short-term

investments,

value

◊

2,652,280‌

150,000‌

4,397,998‌

350,000‌

1,875,000‌

Cash

–‌

11,205‌

510‌

25,725‌

437,484‌

Receivables:

Dividends

2,530,409‌

22,551‌

8,513‌

291,147‌

16,233‌

Interest

333‌

20‌

573‌

47‌

250‌

Investments

sold

38,259,005‌

–‌

1,428,369‌

–‌

865,479‌

Reclaims

39,200‌

–‌

Reimbursement

from

Adviser

1,441‌

7,760‌

6,511‌

18,702‌

12,857‌

sold

68,739‌

307‌

91,539‌

41,203‌

9,807‌

Other

403,527‌

25,961‌

60,757‌

49,851‌

37,697‌

Total

assets

3,293,549,739‌

47,255,823‌

183,452,640‌

445,984,398‌

241,595,541‌

LIABILITIES

Payables:

Management

fees

1,708,370‌

26,655‌

117,354‌

287,590‌

163,194‌

Collateral

from

securities

lending

–‌

1,566,886‌

Interest

454‌

3‌

30‌

66‌

24‌

Investments

purchased

regular

settlement

–‌

1,632,021‌

–‌

654,629‌

redeemed

33,040,429‌

9,762‌

240,430‌

776,365‌

35,819‌

Accrued

expenses:

Custodian

fees

161,183‌

18,186‌

22,280‌

36,477‌

23,981‌

Directors

fees

231,026‌

934‌

35,723‌

17,751‌

6,591‌

Professional

fees

23,495‌

3,445‌

12,112‌

7,148‌

4,491‌

Shareholder

reporting

expenses

33,243‌

2,285‌

8,960‌

29,418‌

51,564‌

Shareholder

servicing

agent

fees

255,742‌

6,989‌

73,426‌

313,842‌

131,669‌

12b-1

distribution

and

service

fees

92,158‌

8,173‌

29,206‌

17,764‌

9,691‌

Total

liabilities

35,546,100‌

76,432‌

2,171,542‌

1,486,421‌

2,648,539‌

Net

assets

3,258,003,639‌

47,179,391‌

181,281,098‌

444,497,977‌

238,947,002‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

2,430,124,005‌

28,244,569‌

159,939,557‌

291,737,745‌

198,002,621‌

Total

distributable

earnings

(loss)

827,879,634‌

18,934,822‌

21,341,541‌

152,760,232‌

40,944,381‌

Net

assets

3,258,003,639‌

47,179,391‌

181,281,098‌

444,497,977‌

238,947,002‌

†

Long-term

investments,

cost

2,656,437,712‌

33,402,804‌

141,004,111‌

314,899,784‌

185,591,096‌

◊

Short-term

investments,

cost

2,652,280‌

150,000‌

4,397,998‌

350,000‌

1,875,000‌

‡

Includes

securities

loaned

—‌

1,453,770‌

Statement

Assets

and

Liabilities

(continued)

See

Notes

Financial

Statements

October

31,

2024

Small

Cap

Select

Small

Cap

Value

ASSETS

Long-term

investments,

value

†‡

143,396,143‌

418,798,121‌

Investments

purchased

with

collateral

from

securities

lending,

value

(cost

approximates

value)

1,124,887‌

–‌

Short-term

investments,

value

◊

3,147,038‌

250,000‌

Cash

–‌

29,868‌

Receivables:

Dividends

22,195‌

90,973‌

Interest

408‌

33‌

Investments

sold

650,527‌

–‌

Reclaims

–‌

2,693‌

Reimbursement

from

Adviser

7,441‌

9,936‌

sold

115,768‌

82,656‌

Other

38,910‌

71,948‌

Total

assets

148,503,317‌

419,336,228‌

LIABILITIES

Payables:

Management

fees

98,111‌

287,115‌

Collateral

from

securities

lending

1,124,887‌

–‌

Interest

13‌

84‌

Investments

purchased

regular

settlement

2,393,395‌

–‌

redeemed

88,759‌

105,979‌

Accrued

expenses:

Custodian

fees

23,254‌

42,060‌

Directors

fees

11,061‌

38,121‌

Professional

fees

3,320‌

7,919‌

Shareholder

reporting

expenses

8,299‌

40,513‌

Shareholder

servicing

agent

fees

54,502‌

159,925‌

12b-1

distribution

and

service

fees

11,618‌

31,855‌

Total

liabilities

3,817,219‌

713,571‌

Net

assets

144,686,098‌

418,622,657‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

110,894,518‌

493,400,782‌

Total

distributable

earnings

(loss)

33,791,580‌

(

74,778,125‌

)

Net

assets

144,686,098‌

418,622,657‌

†

Long-term

investments,

cost

112,534,189‌

326,235,865‌

◊

Short-term

investments,

cost

3,147,038‌

250,000‌

‡

Includes

securities

loaned

1,049,371‌

—‌

Statement

Assets

and

Liabilities

(continued)

See

Notes

Financial

Statements

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Small

Cap

Growth

Opportunities

CLASS

Net

assets

395,248,655‌

32,753,682‌

135,573,196‌

66,081,070‌

44,909,856‌

outstanding

25,297,322‌

746,481‌

5,375,909‌

1,154,371‌

1,741,989‌

Net

asset

value

("NAV")

per

15.62‌

43.88‌

25.22‌

57.24‌

25.78‌

Maximum

sales

charge

5.75%

Offering

price

per

(NAV

per

plus

maximum

sales

charge)

16.57‌

46.56‌

26.76‌

60.73‌

27.35‌

CLASS

Net

assets

8,144,756‌

1,348,873‌

—‌

4,001,452‌

—‌

outstanding

534,921‌

34,866‌

—‌

75,979‌

—‌

NAV

and

offering

price

per

15.23‌

38.69‌

—‌

52.67‌

—‌

CLASS

R6:

Net

assets

2,566,211,371‌

—‌

3,014,300‌

43,311,941‌

3,032,611‌

outstanding

159,838,888‌

—‌

75,601‌

747,637‌

87,603‌

NAV

and

offering

price

per

16.05‌

—‌

39.87‌

57.93‌

34.62‌

CLASS

Net

assets

288,398,857‌

13,076,836‌

42,693,602‌

331,103,514‌

191,004,535‌

outstanding

18,145,388‌

293,598‌

1,099,991‌

5,739,706‌

5,609,714‌

NAV

and

offering

price

per

15.89‌

44.54‌

38.81‌

57.69‌

34.05‌

Authorized

per

class

billion

Par

value

per

0.0001

Statement

Assets

and

Liabilities

(continued)

See

Notes

Financial

Statements

Small

Cap

Select

Small

Cap

Value

CLASS

Net

assets

54,137,565‌

95,997,085‌

outstanding

5,195,903‌

3,123,597‌

Net

asset

value

("NAV")

per

10.42‌

30.73‌

Maximum

sales

charge

5.75%

Offering

price

per

(NAV

per

plus

maximum

sales

charge)

11.06‌

32.60‌

CLASS

Net

assets

—‌

12,148,200‌

outstanding

—‌

477,087‌

NAV

and

offering

price

per

—‌

25.46‌

CLASS

R6:

Net

assets

2,474,604‌

151,043,193‌

outstanding

163,818‌

4,694,598‌

NAV

and

offering

price

per

15.11‌

32.17‌

CLASS

Net

assets

88,073,929‌

159,434,179‌

outstanding

5,861,656‌

4,990,191‌

NAV

and

offering

price

per

15.03‌

31.95‌

Authorized

per

class

billion

Par

value

per

0.0001

Statement

Operations

See

Notes

Financial

Statements

Year

Ended

October

31,

2024

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

INVESTMENT

INCOME

Affiliated

income

1,631,960‌

19,584‌

58,315‌

93,872‌

Dividends

71,145,408‌

601,081‌

870,313‌

8,763,946‌

Interest

620,584‌

8,812‌

97,152‌

159,864‌

Securities

lending

income,

net

—‌

7,650‌

402‌

Tax

withheld

(

98,430‌

)

(

1,073‌

)

(

624‌

)

(

14,041‌

)

Total

investment

income

73,299,522‌

628,404‌

1,032,806‌

9,004,043‌

EXPENSES

–

Management

fees

19,386,443‌

301,629‌

1,471,403‌

3,405,899‌

12b-1

service

fees

Class

960,547‌

76,219‌

352,435‌

163,438‌

12b-1

distribution

and

service

fees

Class

87,262‌

14,249‌

—‌

43,519‌

Shareholder

servicing

agent

fees

Class

369,254‌

14,508‌

179,812‌

93,613‌

Shareholder

servicing

agent

fees

Class

8,391‌

678‌

—‌

6,236‌

Shareholder

servicing

agent

fees

Class

151,713‌

—‌

1,315‌

3,259‌

Shareholder

servicing

agent

fees

Class

279,879‌

5,990‌

58,096‌

487,794‌

Interest

expense

48,659‌

1,847‌

386‌

737‌

Directors

fees

116,621‌

1,660‌

7,010‌

16,660‌

Custodian

expenses

202,411‌

23,243‌

28,157‌

46,906‌

Registration

fees

69,552‌

51,909‌

52,734‌

68,500‌

Professional

fees

143,279‌

35,619‌

43,545‌

49,049‌

Shareholder

reporting

expenses

125,419‌

15,435‌

47,312‌

125,942‌

Other

196,633‌

8,650‌

21,618‌

37,432‌

Total

expenses

before

fee

waiver/expense

reimbursement

22,146,063‌

551,636‌

2,263,823‌

4,548,984‌

Fee

waiver/expense

reimbursement

(

993,205‌

)

(

113,312‌

)

(

206,747‌

)

(

383,837‌

)

Net

expenses

21,152,858‌

438,324‌

2,057,076‌

4,165,147‌

Net

investment

income

(loss)

52,146,664‌

190,080‌

(

1,024,270‌

)

4,838,896‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss)

from:

Investments

280,199,877‌

5,781,490‌

14,717,562‌

21,655,687‌

Net

realized

gain

(loss)

280,199,877‌

5,781,490‌

14,717,562‌

21,655,687‌

Change

unrealized

appreciation

(depreciation)

on:

Investments

458,665,014‌

7,994,680‌

34,344,406‌

76,326,081‌

Net

change

unrealized

appreciation

(depreciation)

458,665,014‌

7,994,680‌

34,344,406‌

76,326,081‌

Net

realized

and

unrealized

gain

(loss)

738,864,891‌

13,776,170‌

49,061,968‌

97,981,768‌

Net

increase

(decrease)

net

assets

from

operations

791,011,555‌

13,966,250‌

48,037,698‌

102,820,664‌

Statement

Operations

(continued)

See

Notes

Financial

Statements

Year

Ended

October

31,

2024

Small

Cap

Growth

Opportunities

Small

Cap

Select

Small

Cap

Value

INVESTMENT

INCOME

Affiliated

income

127,309‌

62,405‌

185,684‌

Dividends

1,084,021‌

1,275,946‌

8,501,817‌

Interest

134,530‌

68,095‌

162,533‌

Securities

lending

income,

net

4,466‌

55,582‌

620‌

Tax

withheld

—‌

(

4,999‌

)

(

17,855‌

)

Total

investment

income

1,350,326‌

1,457,029‌

8,832,799‌

EXPENSES

–

Management

fees

1,785,554‌

965,069‌

3,479,461‌

12b-1

service

fees

Class

109,149‌

137,016‌

245,489‌

12b-1

distribution

and

service

fees

Class

—‌

140,696‌

Shareholder

servicing

agent

fees

Class

65,575‌

82,015‌

171,719‌

Shareholder

servicing

agent

fees

Class

—‌

24,625‌

Shareholder

servicing

agent

fees

Class

279‌

1,276‌

17,295‌

Shareholder

servicing

agent

fees

Class

260,571‌

86,486‌

313,042‌

Interest

expense

219‌

589‌

672‌

Directors

fees

8,167‌

4,383‌

15,939‌

Custodian

expenses

33,235‌

29,203‌

52,167‌

Registration

fees

55,749‌

52,859‌

70,112‌

Professional

fees

37,301‌

34,041‌

50,712‌

Shareholder

reporting

expenses

149,857‌

38,061‌

123,266‌

Other

31,263‌

14,114‌

53,823‌

Total

expenses

before

fee

waiver/expense

reimbursement

2,536,919‌

1,445,112‌

4,759,018‌

Fee

waiver/expense

reimbursement

(

326,911‌

)

(

185,753‌

)

(

456,313‌

)

Net

expenses

2,210,008‌

1,259,359‌

4,302,705‌

Net

investment

income

(loss)

(

859,682‌

)

197,670‌

4,530,094‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss)

from:

Investments

17,321,938‌

8,481,322‌

36,672,526‌

Net

realized

gain

(loss)

17,321,938‌

8,481,322‌

36,672,526‌

Change

unrealized

appreciation

(depreciation)

on:

Investments

47,062,026‌

22,086,547‌

74,333,766‌

Foreign

currency

translations

—‌

(

10‌

)

Net

change

unrealized

appreciation

(depreciation)

47,062,026‌

22,086,547‌

74,333,756‌

Net

realized

and

unrealized

gain

(loss)

64,383,964‌

30,567,869‌

111,006,282‌

Net

increase

(decrease)

net

assets

from

operations

63,524,282‌

30,765,539‌

115,536,376‌

Statement

Changes

Net

Assets

See

Notes

Financial

Statements

Dividend

Value

Large

Cap

Select

Year

Ended

10/31/24

Year

Ended

10/31/23

Year

Ended

10/31/24

Year

Ended

10/31/23

OPERATIONS

Net

investment

income

(loss)

52,146,664‌

56,533,890‌

190,080‌

214,987‌

Net

realized

gain

(loss)

280,199,877‌

116,096,682‌

5,781,490‌

530,670‌

Net

change

unrealized

appreciation

(depreciation)

458,665,014‌

(

188,210,397‌

)

7,994,680‌

2,292,516‌

Net

increase

(decrease)

net

assets

from

operations

791,011,555‌

(

15,579,825‌

)

13,966,250‌

3,038,173‌

DISTRIBUTIONS

SHAREHOLDERS

Dividends:

Class

(

18,579,818‌

)

(

33,416,727‌

)

(

606,479‌

)

(

1,403,450‌

)

Class

(

377,745‌

)

(

952,521‌

)

(

25,413‌

)

(

77,615‌

)

Class

(

125,354,255‌

)

(

218,272,749‌

)

—‌

Class

(

14,910,416‌

)

(

29,241,102‌

)

(

280,688‌

)

(

610,521‌

)

Total

distributions

(

159,222,234‌

)

(

281,883,099‌

)

(

912,580‌

)

(

2,091,586‌

)

FUND

TRANSACTIONS

Subscriptions

276,268,617‌

306,839,013‌

4,433,188‌

7,719,723‌

Reinvestments

distributions

157,449,904‌

278,153,003‌

802,722‌

1,793,199‌

Redemptions

(

638,834,131‌

)

(

820,742,112‌

)

(

6,031,885‌

)

(

9,881,711‌

)

Net

increase

(decrease)

from

Fund

transactions

(

205,115,610‌

)

(

235,750,096‌

)

(

795,975‌

)

(

368,789‌

)

Net

increase

(decrease)

net

assets

426,673,711‌

(

533,213,020‌

)

12,257,695‌

577,798‌

Net

assets

the

beginning

period

2,831,329,928‌

3,364,542,948‌

34,921,696‌

34,343,898‌

Net

assets

the

end

period

3,258,003,639‌

2,831,329,928‌

47,179,391‌

34,921,696‌

Statement

Changes

Net

Assets

(continued)

See

Notes

Financial

Statements

Mid

Cap

Growth

Opportunities

Mid

Cap

Value

Year

Ended

10/31/24

Year

Ended

10/31/23

Year

Ended

10/31/24

Year

Ended

10/31/23

OPERATIONS

Net

investment

income

(loss)

(

1,024,270‌

)

(

873,118‌

)

4,838,896‌

5,833,693‌

Net

realized

gain

(loss)

14,717,562‌

7,146,495‌

21,655,687‌

12,290,899‌

Net

change

unrealized

appreciation

(depreciation)

34,344,406‌

(

3,224,225‌

)

76,326,081‌

(

17,544,312‌

)

Net

increase

(decrease)

net

assets

from

operations

48,037,698‌

3,049,152‌

102,820,664‌

580,280‌

DISTRIBUTIONS

SHAREHOLDERS

Dividends:

Class

—‌

(

2,019,220‌

)

(

3,789,801‌

)

Class

—‌

(

125,640‌

)

(

299,981‌

)

Class

—‌

(

1,187,731‌

)

(

2,052,356‌

)

Class

—‌

(

11,470,002‌

)

(

22,357,558‌

)

Total

distributions

—‌

(

14,802,593‌

)

(

28,499,696‌

)

FUND

TRANSACTIONS

Subscriptions

11,470,516‌

10,179,424‌

58,609,808‌

90,896,314‌

Reinvestments

distributions

—‌

14,161,089‌

27,250,663‌

Redemptions

(

47,090,410‌

)

(

79,581,168‌

)

(

128,066,918‌

)

(

150,059,245‌

)

Net

increase

(decrease)

from

Fund

transactions

(

35,619,894‌

)

(

69,401,744‌

)

(

55,296,021‌

)

(

31,912,268‌

)

Net

increase

(decrease)

net

assets

12,417,804‌

(

66,352,592‌

)

32,722,050‌

(

59,831,684‌

)

Net

assets

the

beginning

period

168,863,294‌

235,215,886‌

411,775,927‌

471,607,611‌

Net

assets

the

end

period

181,281,098‌

168,863,294‌

444,497,977‌

411,775,927‌

Statement

Changes

Net

Assets

(continued)

See

Notes

Financial

Statements

Small

Cap

Growth

Opportunities

Small

Cap

Select

Year

Ended

10/31/24

Year

Ended

10/31/23

Year

Ended

10/31/24

Year

Ended

10/31/23

OPERATIONS

Net

investment

income

(loss)

(

859,682‌

)

(

794,829‌

)

197,670‌

(

14,178‌

)

Net

realized

gain

(loss)

17,321,938‌

3,123,649‌

8,481,322‌

(

1,638,448‌

)

Net

change

unrealized

appreciation

(depreciation)

47,062,026‌

(

12,643,246‌

)

22,086,547‌

(

2,011,961‌

)

Net

increase

(decrease)

net

assets

from

operations

63,524,282‌

(

10,314,426‌

)

30,765,539‌

(

3,664,587‌

)

DISTRIBUTIONS

SHAREHOLDERS

Dividends:

Class

—‌

(

7,234‌

)

Class

—‌

(

1,547‌

)

Class

—‌

(

18,034‌

)

Return

Capital:

Class

—‌

(

67,002‌

)

Class

—‌

(

14,330‌

)

Class

—‌

(

167,034‌

)

Total

distributions

—‌

(

275,181‌

)

FUND

TRANSACTIONS

Subscriptions

35,735,253‌

49,673,677‌

50,484,267‌

15,560,260‌

Reinvestments

distributions

—‌

269,051‌

Redemptions

(

37,813,845‌

)

(

35,662,400‌

)

(

34,028,740‌

)

(

27,150,709‌

)

Net

increase

(decrease)

from

Fund

transactions

(

2,078,592‌

)

14,011,277‌

16,455,527‌

(

11,321,398‌

)

Net

increase

(decrease)

net

assets

61,445,690‌

3,696,851‌

47,221,066‌

(

15,261,166‌

)

Net

assets

the

beginning

period

177,501,312‌

173,804,461‌

97,465,032‌

112,726,198‌

Net

assets

the

end

period

238,947,002‌

177,501,312‌

144,686,098‌

97,465,032‌

Statement

Changes

Net

Assets

(continued)

See

Notes

Financial

Statements

Small

Cap

Value

Year

Ended

10/31/24

Year

Ended

10/31/23

OPERATIONS

Net

investment

income

(loss)

4,530,094‌

5,233,115‌

Net

realized

gain

(loss)

36,672,526‌

12,870,935‌

Net

change

unrealized

appreciation

(depreciation)

74,333,756‌

(

63,840,948‌

)

Net

increase

(decrease)

net

assets

from

operations

115,536,376‌

(

45,736,898‌

)

DISTRIBUTIONS

SHAREHOLDERS

Dividends:

Class

(

791,879‌

)

(

1,025,807‌

)

Class

(

15,667‌

)

(

33,832‌

)

Class

(

1,761,739‌

)

(

1,973,745‌

)

Class

(

2,442,224‌

)

(

3,004,980‌

)

Total

distributions

(

5,011,509‌

)

(

6,038,364‌

)

FUND

TRANSACTIONS

Subscriptions

57,888,159‌

82,860,205‌

Reinvestments

distributions

4,192,110‌

5,010,173‌

Redemptions

(

199,452,534‌

)

(

139,202,623‌

)

Net

increase

(decrease)

from

Fund

transactions

(

137,372,265‌

)

(

51,332,245‌

)

Net

increase

(decrease)

net

assets

(

26,847,398‌

)

(

103,107,507‌

)

Net

assets

the

beginning

period

445,470,055‌

548,577,562‌

Net

assets

the

end

period

418,622,657‌

445,470,055‌

Financial

Highlights

The

following

data

for

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

Period

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

Period

Dividend

Value

Class

10/31/24

12.74

0.20

3.38

3.58

(

0.20

)

(

0.50

)

(

0.70

)

15.62

10/31/23

14.12

0.20

(

0.37

)

(

0.17

)

(

0.25

)

(

0.96

)

(

1.21

)

12.74

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

Class

10/31/24

12.43

0.09

3.30

3.39

(

0.09

)

(

0.50

)

(

0.59

)

15.23

10/31/23

13.80

0.10

(

0.37

)

(

0.27

)

(

0.14

)

(

0.96

)

(

1.10

)

12.43

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

Class

10/31/24

13.08

0.26

3.47

3.73

(

0.26

)

(

0.50

)

(

0.76

)

16.05

10/31/23

14.47

0.26

(

0.39

)

(

0.13

)

(

0.30

)

(

0.96

)

(

1.26

)

13.08

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

Class

10/31/24

12.95

0.24

3.44

3.68

(

0.24

)

(

0.50

)

(

0.74

)

15.89

10/31/23

14.34

0.24

(

0.39

)

(

0.15

)

(

0.28

)

(

0.96

)

(

1.24

)

12.95

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

(a)

Based

average

outstanding.

(b)

Total

returns

are

NAV

and

not

include

any

sales

charge.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

Financial

Statements

for

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

further

described

the

Notes

Financial

Statements.

See

Notes

Financial

Statements.

Ratio/Supplemental

Data

Ratios

Average

Net

Assets

Total

Return(b)

Net

Assets,

End

Period

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate

.86‌

395,249

.99‌

.96‌

.37‌

79‌

(

.39‌

)

342,301

.00‌

.96‌

.51‌

82‌

(

.00‌

)

390,219

.00‌

.96‌

.63‌

81‌

.25‌

434,105

.00‌

.96‌

.32‌

97‌

(

.12‌

)

158,645

.09‌

.00‌

117‌

.98‌

8,145

.74‌

.71‌

.63‌

79‌

(

.14‌

)

8,404

.75‌

.71‌

.77‌

82‌

(

.72‌

)

11,931

.75‌

.71‌

.85‌

81‌

.10‌

16,356

.75‌

.71‌

.60‌

97‌

(

.75‌

)

11,881

.84‌

.24‌

117‌

.28‌

2,566,211

.65‌

.62‌

.70‌

79‌

(

.03‌

)

2,210,275

.65‌

.61‌

.86‌

82‌

(

.65‌

)

2,619,891

.65‌

.61‌

.98‌

81‌

.71‌

3,102,035

.64‌

.60‌

.73‌

97‌

(

.80‌

)

2,025,717

.70‌

.41‌

117‌

.19‌

288,399

.74‌

.71‌

.62‌

79‌

(

.16‌

)

270,350

.75‌

.71‌

.77‌

82‌

(

.75‌

)

342,502

.75‌

.71‌

.85‌

81‌

.59‌

466,940

.75‌

.71‌

.61‌

97‌

(

.96‌

)

408,828

.84‌

.25‌

117‌

Financial

Highlights

(continued)

The

following

data

for

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

Period

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

Period

Large

Cap

Select

Class

10/31/24

32.17

0.15

12.35

12.50

(

0.19

)

(

0.60

)

(

0.79

)

43.88

10/31/23

31.11

0.18

2.76

2.94

(

0.21

)

(

1.67

)

(

1.88

)

32.17

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

Class

10/31/24

28.49

(

0.13

)

10.93

10.80

—

(

0.60

)

(

0.60

)

38.69

10/31/23

27.75

(

0.05

)

2.46

2.41

—

(

1.67

)

(

1.67

)

28.49

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

Class

10/31/24

32.64

0.25

12.53

12.78

(

0.28

)

(

0.60

)

(

0.88

)

44.54

10/31/23

31.55

0.26

2.80

3.06

(

0.30

)

(

1.67

)

(

1.97

)

32.64

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

(a)

Based

average

outstanding.

(b)

Total

returns

are

NAV

and

not

include

any

sales

charge.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

Financial

Statements

for

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

further

described

the

Notes

Financial

Statements.

See

Notes

Financial

Statements.

Ratio/Supplemental

Data

Ratios

Average

Net

Assets

Total

Return(b)

Net

Assets,

End

Period

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate

.42‌

32,754

.29‌

.03‌

.38‌

76‌

.13‌

24,952

.37‌

.05‌

.57‌

89‌

(

.56‌

)

23,157

.32‌

.05‌

.54‌

78‌

.77‌

31,724

.29‌

.05‌

.18‌

83‌

.76‌

24,135

.30‌

.11‌

.54‌

101‌

.38‌

1,349

.04‌

.78‌

(

.36‌

)

76‌

.30‌

1,212

.12‌

.80‌

(

.18‌

)

89‌

(

.18‌

)

1,334

.07‌

.80‌

(

.20‌

)

78‌

.68‌

1,790

.04‌

.80‌

(

.56‌

)

83‌

.99‌

1,743

.05‌

.86‌

(

.21‌

)

101‌

.76‌

13,077

.04‌

.78‌

.63‌

76‌

.40‌

8,758

.12‌

.80‌

.81‌

89‌

(

.33‌

)

9,854

.07‌

.80‌

.75‌

78‌

.11‌

18,605

.04‌

.80‌

.43‌

83‌

.02‌

16,030

.05‌

.86‌

.79‌

101‌

Financial

Highlights

(continued)

The

following

data

for

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

Period

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

Period

Mid

Cap

Growth

Opportunities

Class

10/31/24

19.47

(

0.15

)

5.90

5.75

—

25.22

10/31/23

19.43

(

0.11

)

0.15

0.04

—

19.47

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

Class

10/31/24

30.67

(

0.10

)

9.30

9.20

—

39.87

10/31/23

30.52

(

0.07

)

0.22

0.15

—

30.67

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

Class

10/31/24

29.88

(

0.13

)

9.06

8.93

—

38.81

10/31/23

29.75

(

0.08

)

0.21

0.13

—

29.88

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

(a)

Based

average

outstanding.

(b)

Total

returns

are

NAV

and

not

include

any

sales

charge.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

Financial

Statements

for

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

further

described

the

Notes

Financial

Statements.

See

Notes

Financial

Statements.

Ratio/Supplemental

Data

Ratios

Average

Net

Assets

Total

Return(b)

Net

Assets,

End

Period

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate

.53‌

135,573

.26‌

.15‌

(

.61‌

)

58‌

.21‌

123,317

.25‌

.17‌

(

.51‌

)

71‌

(

.06‌

)

142,840

.23‌

.17‌

(

.60‌

)

67‌

.97‌

252,552

.20‌

.17‌

(

.84‌

)

89‌

.09‌

185,219

.24‌

.17‌

(

.29‌

)

89‌

.03‌

3,014

.93‌

.82‌

(

.28‌

)

58‌

.49‌

2,550

.91‌

.83‌

(

.21‌

)

71‌

(

.86‌

)

20,897

.89‌

.83‌

(

.25‌

)

67‌

.45‌

31,945

.86‌

.83‌

(

.50‌

)

89‌

.54‌

28,966

.88‌

.81‌

.06‌

89‌

.92‌

42,694

.01‌

.90‌

(

.35‌

)

58‌

.44‌

42,996

.00‌

.92‌

(

.26‌

)

71‌

(

.91‌

)

71,478

.98‌

.92‌

(

.35‌

)

67‌

.31‌

164,813

.95‌

.92‌

(

.58‌

)

89‌

.38‌

150,875

.99‌

.92‌

(

.03‌

)

89‌

Financial

Highlights

(continued)

The

following

data

for

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

Period

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

Period

Mid

Cap

Value

Class

10/31/24

46.86

0.46

11.54

12.00

(0.50)

(1.12)

(1.62)

57.24

10/31/23

50.13

0.52

(0.84)

(0.32)

(0.53)

(2.42)

(2.95)

46.86

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

Class

10/31/24

43.21

0.07

10.63

10.70

(0.12)

(1.12)

(1.24)

52.67

10/31/23

46.38

0.15

(0.77)

(0.62)

(0.13)

(2.42)

(2.55)

43.21

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

Class

10/31/24

47.41

0.68

11.66

12.34

(0.70)

(1.12)

(1.82)

57.93

10/31/23

50.71

0.72

(0.85)

(0.13)

(0.75)

(2.42)

(3.17)

47.41

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

Class

10/31/24

47.20

0.60

11.63

12.23

(0.62)

(1.12)

(1.74)

57.69

10/31/23

50.49

0.65

(0.86)

(0.21)

(0.66)

(2.42)

(3.08)

47.20

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

(a)

Based

average

outstanding.

(b)

Total

returns

are

NAV

and

not

include

any

sales

charge.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

Financial

Statements

for

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

further

described

the

Notes

Financial

Statements.

See

Notes

Financial

Statements.

Ratio/Supplemental

Data

Ratios

Average

Net

Assets

Total

Return(b)

Net

Assets,

End

Period

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate

25.98‌

66,081

1.23‌

1.14‌

0.86‌

20‌

(0.65‌)

58,995

1.25‌

1.16‌

1.06‌

28‌

(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

25.06‌

4,001

1.98‌

1.89‌

0.13‌

20‌

(1.38‌)

4,512

2.00‌

1.91‌

0.33‌

28‌

(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

26.47‌

43,312

0.85‌

0.76‌

1.24‌

20‌

(0.25‌)

31,554

0.85‌

0.76‌

1.45‌

28‌

(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

26.33‌

331,104

0.98‌

0.89‌

1.11‌

20‌

(0.41‌)

316,716

1.00‌

0.91‌

1.31‌

28‌

(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

Financial

Highlights

(continued)

The

following

data

for

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

Period

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

Period

Small

Cap

Growth

Opportunities

Class

10/31/24

18.97

(

0.14

)

6.95

6.81

—

25.78

10/31/23

20.05

(

0.13

)

(

0.95

)

(

1.08

)

—

18.97

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

Class

10/31/24

25.37

(

0.07

)

9.32

9.25

—

34.62

10/31/23

26.71

(

0.06

)

(

1.28

)

(

1.34

)

—

25.37

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

Class

10/31/24

24.99

(

0.11

)

9.17

9.06

—

34.05

10/31/23

26.34

(

0.10

)

(

1.25

)

(

1.35

)

—

24.99

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

(a)

Based

average

outstanding.

(b)

Total

returns

are

NAV

and

not

include

any

sales

charge.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

Financial

Statements

for

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

further

described

the

Notes

Financial

Statements.

See

Notes

Financial

Statements.

Ratio/Supplemental

Data

Ratios

Average

Net

Assets

Total

Return(b)

Net

Assets,

End

Period

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate

.95‌

44,910

.36‌

.21‌

(

.59‌

)

67‌

(

.39‌

)

36,065

.36‌

.23‌

(

.63‌

)

65‌

(

.03‌

)

41,159

.35‌

.22‌

(

.72‌

)

65‌

.38‌

59,901

.33‌

.21‌

(

.88‌

)

97‌

.55‌

41,683

.42‌

.22‌

(

.77‌

)

105‌

.41‌

3,033

.97‌

.82‌

(

.21‌

)

67‌

(

.98‌

)

866

.96‌

.83‌

(

.20‌

)

65‌

(

.74‌

)

644

.95‌

.82‌

(

.30‌

)

65‌

.98‌

590

.93‌

.81‌

(

.39‌

)

97‌

.14‌

1,038

.98‌

.78‌

(

.26‌

)

105‌

.29‌

191,005

.11‌

.96‌

(

.34‌

)

67‌

(

.13‌

)

140,570

.11‌

.98‌

(

.37‌

)

65‌

(

.86‌

)

132,002

.10‌

.97‌

(

.51‌

)

65‌

.74‌

305,544

.08‌

.96‌

(

.62‌

)

97‌

.81‌

168,931

.17‌

.97‌

(

.51‌

)

105‌

Financial

Highlights

(continued)

The

following

data

for

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

Period

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

Capital

Total

Net

Asset

Value,

End

Period

Small

Cap

Select

Class

10/31/24

7.82

—

(e)

2.60

—

10.42

10/31/23

8.17

(

0.01

)

(

0.33

)

(

0.34

)

(

—

)

(e)

—

(

0.01

)

(

0.01

)

7.82

10/31/22

11.89

(

—

)

(e)

(

1.83

)

(

1.83

)

—

(

1.89

)

—

(

1.89

)

8.17

10/31/21

7.83

(

0.03

)

4.23

4.20

(

—

)

(e)

(

0.14

)

—

(

0.14

)

11.89

10/31/20

7.71

(

—

)

(e)

0.13

(

0.01

)

—

(

0.01

)

7.83

Class

10/31/24

11.30

0.06

3.75

3.81

—

15.11

10/31/23

11.80

0.03

(

0.47

)

(

0.44

)

(

0.01

)

—

(

0.05

)

(

0.06

)

11.30

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

Class

10/31/24

11.26

0.04

3.73

3.77

—

15.03

10/31/23

11.75

0.01

(

0.45

)

(

0.44

)

(

0.01

)

—

(

0.04

)

(

0.05

)

11.26

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

(a)

Based

average

outstanding.

(b)

Total

returns

are

NAV

and

not

include

any

sales

charge.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

Financial

Statements

for

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

further

described

the

Notes

Financial

Statements.

(e)

Value

rounded

zero.

See

Notes

Financial

Statements.

Ratio/Supplemental

Data

Ratios

Average

Net

Assets

Total

Return(b)

Net

Assets,

End

Period

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate

.25‌

54,138

.38‌

.22‌

.04‌

56‌

(

.15‌

)

48,067

.41‌

.24‌

(

.14‌

)

42‌

(

.84‌

)

56,476

.40‌

.24‌

(

.05‌

)

63‌

.06‌

78,047

.39‌

.24‌

(

.30‌

)

91‌

.70‌

49,513

.48‌

.24‌

(

.05‌

)

90‌

.72‌

2,475

.01‌

.85‌

.42‌

56‌

(

.73‌

)

4,212

.03‌

.86‌

.24‌

42‌

(

.57‌

)

3,135

.02‌

.86‌

.32‌

63‌

.60‌

2,791

.03‌

.87‌

.06‌

91‌

.15‌

1,994

.09‌

.86‌

.32‌

90‌

.60‌

88,074

.12‌

.96‌

.27‌

56‌

(

.87‌

)

45,185

.16‌

.99‌

.11‌

42‌

(

.63‌

)

53,115

.15‌

.99‌

.20‌

63‌

.43‌

74,479

.14‌

.99‌

(

.04‌

)

91‌

.00‌

31,341

.23‌

.99‌

.19‌

90‌

Financial

Highlights

(continued)

The

following

data

for

share outstanding

for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

Net

Asset

Value,

Beginning

Period

Net

Investment

Income

(NII)

(Loss)(a)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Total

Net

Asset

Value,

End

Period

Small

Cap

Value

Class

10/31/24

23.89

0.23

6.83

7.06

(

0.22

)

—

(

0.22

)

30.73

10/31/23

26.52

0.21

(

2.60

)

(

2.39

)

(

0.24

)

—

(

0.24

)

23.89

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

Class

10/31/24

19.81

0.02

5.65

5.67

(

0.02

)

—

(

0.02

)

25.46

10/31/23

21.99

0.01

(

2.15

)

(

2.14

)

(

0.04

)

—

(

0.04

)

19.81

10/31/22

23.68

—

(e)

(

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

Class

10/31/24

25.00

0.37

7.13

7.50

(

0.33

)

—

(

0.33

)

32.17

10/31/23

27.75

0.33

(

2.72

)

(

2.39

)

(

0.36

)

—

(

0.36

)

25.00

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

Class

10/31/24

24.83

0.32

7.09

7.41

(

0.29

)

—

(

0.29

)

31.95

10/31/23

27.57

0.28

(

2.70

)

(

2.42

)

(

0.32

)

—

(

0.32

)

24.83

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

(a)

Based

average

outstanding.

(b)

Total

returns

are

NAV

and

not

include

any

sales

charge.

Total

returns

are

not

annualized.

(c)

After

fee

waiver

and/or

expense

reimbursement

from

the

Adviser,

where

applicable.

See

Notes

Financial

Statements

for

information.

(d)

Includes

voluntary

compensation

from

the

Adviser

further

described

the

Notes

Financial

Statements.

(e)

Value

rounded

zero.

See

Notes

Financial

Statements.

Ratio/Supplemental

Data

Ratios

Average

Net

Assets

Total

Return(b)

Net

Assets,

End

Period

(000)

Gross

Expenses

Net

Expenses(c)

NII

(Loss)(c),(d)

Portfolio

Turnover

Rate

.64‌

95,997

.31‌

.20‌

.80‌

23‌

(

.05‌

)

87,298

.28‌

.21‌

.81‌

31‌

(

.00‌

)

113,227

.25‌

.20‌

.77‌

31‌

.47‌

138,585

.25‌

.20‌

.16‌

36‌

(

.33‌

)

105,402

.30‌

.20‌

.48‌

30‌

.65‌

12,148

.06‌

.95‌

.06‌

23‌

(

.72‌

)

14,623

.03‌

.96‌

.07‌

31‌

(

.70‌

)

21,592

.00‌

.95‌

.02‌

31‌

.20‌

28,500

.00‌

.95‌

(

.62‌

)

36‌

(

.93‌

)

22,263

.05‌

.95‌

(

.28‌

)

30‌

.14‌

151,043

.90‌

.79‌

.23‌

23‌

(

.67‌

)

132,277

.87‌

.80‌

.22‌

31‌

(

.60‌

)

152,178

.86‌

.81‌

.17‌

31‌

.14‌

182,835

.85‌

.81‌

.45‌

36‌

(

.01‌

)

85,491

.86‌

.76‌

.81‌

30‌

.97‌

159,434

.06‌

.95‌

.10‌

23‌

(

.83‌

)

211,272

.03‌

.96‌

.06‌

31‌

(

.76‌

)

261,581

.00‌

.95‌

.02‌

31‌

.91‌

371,179

.00‌

.95‌

.42‌

36‌

(

.14‌

)

457,676

.05‌

.95‌

.81‌

30‌

Notes

Financial

Statements

General

Information

Trust

and

Fund

Information:

Nuveen

Investment

Funds,

Inc.

(the

“Trust”),

open-end

management

investment

company

registered

under

the

Investment

Company

Act

1940,

(the

“1940

Act”),

amended.

The

Trust

comprised

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

1”),

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

“Fund”

and

collectively,

the

“Funds”),

among

others.

The

Trust

was

incorporated

the

State

Maryland

August

20,

1987.

Current

Fiscal

Period:

The

end

the

reporting

period

for

the

Funds

October

31,

2024,

and

the

period

covered

these

Notes

Financial

Statements

the

fiscal

year

ended

October

31,

2024

(the

"current

fiscal

period").

Fund

Name

Changes

Effective

May

2024,

Nuveen

Mid

Cap

Value

Fund

changed

its

name

noted

above

Mid

Cap

Value

and

therefore

all

references

the

name

the

Fund

this

report

have

been

updated.

Fund

Reorganization:

September

19,

2024,

the

reorganization

Mid

Cap

Value

into

Nuveen

Mid

Cap

Value

Fund,

series

TIAA-CREF

Funds,

was

approved

the

Funds’

Board

Directors/Trustees

(the

“Board”).

The

reorganization

pending

shareholder

approval.

Investment

Adviser

and

Sub-Adviser:

The

Funds’

investment

adviser

Nuveen

Fund

Advisors,

LLC

(the

“Adviser”),

subsidiary

Nuveen,

LLC

(“Nuveen”).

Nuveen

the

investment

management

arm

Teachers

Insurance

and

Annuity

Association

America

(TIAA).

The

Adviser

has

overall

responsibility

for

management

the

Funds,

oversees

the

management

the

Funds’

portfolios,

manages

the

Funds’

business

affairs

and

provides

certain

clerical,

bookkeeping

and

other

administrative

services,

and,

necessary,

asset

allocation

decisions.

The

Adviser

has

entered

into

sub-

advisory

agreements

with

Nuveen

Asset

Management,

LLC

(the

“Sub-Adviser”),

subsidiary

the

Adviser,

under

which

the

Sub-Adviser

manages

the

investment

portfolios

the

Funds.

Classes

and

Sales

Charges:

Class

are

generally

sold

with

up-front

sales

charge.

Class

purchases

million

are

sold

net

asset

value

(“NAV”)

without

up-front

sales

charge

but

may

subject

contingent

deferred

sales

charge

(“CDSC”)

redeemed

within

eighteen

months

purchase.

Class

are

sold

without

up-front

sales

charge

but

are

subject

CDSC

redeemed

within

twelve

months

purchase.

Class

and

Class

are

sold

without

upfront

sales

charge.

Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

accordance

with

accounting

principles

generally

accepted

the

United

States

America

(“U.S.

GAAP”),

which

may

require

the

use

estimates

made

management

and

the

evaluation

subsequent

events.

Actual

results

may

differ

from

those

estimates.

Each

Fund

investment

company

and

follows

accounting

guidance

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies.

The

net

asset

value

("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

transactions

through

the

date

the

report.

Total

return

computed

based

the

NAV

used

for

processing

security

and

common

transactions.

The

following

summary

the

significant

accounting

policies

consistently

followed

the

Funds.

Compensation:

The

Trust

pays

compensation

directly

those

of its

officers,

all

whom

receive

remuneration

for

their

services

the

Trust

from

the

Adviser

its

affiliates.

The

Funds’

Board

of Directors

(the

"Board")

has

adopted

deferred

compensation

plan

for

independent directors that

enables directors

elect

defer

receipt

all

portion

the

annual

compensation

they

are

entitled

receive

from

certain

Nuveen-advised

funds.

Under

the

plan,

deferred

amounts

are

treated

though

equal

dollar

amounts

had

been

invested

select

Nuveen-advised

funds.

Distributions

Shareholders:

Distributions

shareholders

are

recorded

the

ex-dividend

date.

The

amount,

character

and

timing

distributions

are

determined

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

Currency

Transactions

and

Translation:

The

books

and

records

the

Fund

are

maintained

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

foreign

currencies

are

translated

into

U.S.

dollars

the

end

each

day.

Purchases

and

sales

securities,

income

and

expenses

are

translated

into

U.S.

dollars

the

prevailing

exchange

rate

the

respective

dates

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

interest

and

dividends

recorded

the

books

the

Fund

and

the

amounts

actually

received

are

recognized

component

“Net

realized

gain

(loss)

from

foreign

currency

transactions”

the

Statement

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

foreign

currency

exchange

rates

and

changes

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

component

“Change

unrealized

appreciation

(depreciation)

on foreign

currency

translations”

the

Statement

Operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

foreign

exchange

rates

associated

with

investments

derivatives

are

recognized

component

the

respective

derivative’s

“Change

unrealized

appreciation

(depreciation)”

the

Statement

Operations,

when

applicable.

Foreign

Taxes:

The

Funds

may

subject

foreign

taxes

income,

gains

investments

foreign

currency

repatriation,

portion

which

may

recoverable.

The

Funds

will

accrue

such

taxes

and

recoveries

applicable,

based

upon

the

current

interpretation

tax

rules

and

regulations

that

exist

the

markets

which

the

Funds

invest.

Indemnifications:

Under

the

Trust’s

organizational

documents,

its

officers

and directors

are

indemnified

against

certain

liabilities

arising

out

the

performance

their

duties

the

Trust.

addition,

the

normal

course

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

other

parties.

The

Trust’s

maximum

exposure

under

these

arrangements

unknown

this

would

involve

future

claims

that

may

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

losses

pursuant

these

contracts

and

expects

the

risk

loss

remote.

Investments

and

Investment

Income:

Securities

transactions

are

accounted

for

the

trade

date

for

financial

reporting

purposes.

Realized

gains

and

losses

securities

transactions

are

based

upon

the

specific

identification

method.

Dividend

income

recorded

the

ex-dividend

date

or,

for

certain

foreign

securities,

when

information

available.

Non-cash

dividends

received

the

form

stock,

any,

are

recognized

the

ex-

dividend

date

and

recorded

fair

value.

Interest

income

recorded

accrual

basis.

Securities

lending

income

comprised

fees

earned

from

borrowers

and

income

earned

cash

collateral

investments.

Multiclass

Operations

and

Allocations:

Income

and

expenses

the

Funds

that

are

not

directly

attributable

specific

class

are

prorated

among

the

classes

based

the

relative

net

assets

each

class.

Expenses

directly

attributable

class

are

recorded

the

specific

class.

12b-1

distribution

and

service

fees

are

allocated

class-specific

basis.

Sub-transfer

agent

fees

and

similar

fees,

which

are

recognized

component

“Shareholder

servicing

agent

fees”

the

Statement

Operations,

are

not

charged

Class

and

are

prorated

among

the

other

classes

based

their

relative

net

assets.

Realized

and

unrealized

capital

gains

and

losses

the

Funds

are

prorated

among

the

classes

based

the

relative

net

assets

each

class.

Netting

Agreements:

the

ordinary

course

business,

the

Funds

may

enter

into

transactions

subject

enforceable

master

repurchase

agreements,

International

Swaps

and

Derivatives

Association,

Inc.

(ISDA)

master

agreements

other

similar

arrangements

(“netting

agreements”).

Generally,

the

right

offset

netting

agreements

allows

each

Fund

offset

certain

securities

and

derivatives

with

specific

counterparty,

when

applicable,

well

any

collateral

received

delivered

that

counterparty

based

the

terms

the

agreements.

Generally,

each

Fund

manages

its

cash

collateral

and

securities

collateral

counterparty

basis.

With

respect

certain

counterparties,

accordance

with

the

terms

the

netting

agreements,

collateral

posted

the

Funds

held

segregated

account

the

Funds’

custodian

and/or

with

respect

those

amounts

which

can

sold

repledged,

are

presented

the

Funds’

Portfolio

Investments

Statement

Assets

and

Liabilities.

The

Funds’

investments

subject

netting

agreements

the

end

the

reporting

period,

any,

are

further

described

later

these

Notes

Financial

Statements.

New

Accounting

Pronouncement:

November

2023,

the

FASB

issued

Accounting

Standard

Update

(“ASU”)

No.

2023-07,

Segment

Reporting

(Topic

280)

Improvements

Reportable

Segment

Disclosures

(“ASU

2023-07”).

The

amendments

ASU

2023-07

improve

reportable

segment

disclosure

requirements,

primarily

through

enhanced

disclosures

about

significant

segment

expenses.

ASU

2023-07

also

requires

public

entity

that

has

single

reportable

segment

provide

all

the

disclosures

required

the

amendments

ASU

2023-07

and

all

existing

segment

disclosures

Topic

280.

The

amendments

ASU

2023-07

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

fiscal

years

beginning

after

December

15,

2024.

Early

adoption

permitted.

Management

has

assessed

the

new

guidance

and

determined

that

will

not

have

material

impact

the

financial

positions

results

operations

the

Funds.

Investment

Valuation

and

Fair

Value

Measurements

The

Funds’

investments

securities

are

recorded

their

estimated

fair

value

utilizing

valuation

methods

approved

the

Adviser,

subject

oversight

the Board.

Fair

value

defined

the

price

that

would

received

upon

selling

investment

transferring

liability

orderly

transaction

independent

buyer

the

principal

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

used

maximize

the

use

observable

market

data

and

minimize

the

use

unobservable

inputs

and

establish

classification

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

pricing

the

asset

liability.

Observable

inputs

are

based

market

data

obtained

from

sources

independent

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

pricing

the

asset

liability.

Unobservable

inputs

are

based

the

best

information

available

the

circumstances.

The

following

summary

the

three-tiered

hierarchy

valuation

input

levels.

Level

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

determining

the

fair

value

investments).

description

the

valuation

techniques

applied

the

Funds’

major

classifications

assets

and

liabilities

measured

fair

value

follows:

Equity

securities

and

exchange-traded

funds

listed

traded

national

market

exchange

are

valued

based

their

last

reported sales

price

official

closing

price of such

market

exchange

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

foreign

exchange

are

valued

the

last

reported sales

price

official

closing

price

the

principal

exchange

where

traded,

and

converted

U.S.

dollars

the

prevailing

rates

exchange

the valuation

date.

For

events affecting

the value

foreign

securities

between

the

time

when

the

exchange

which

they

are

traded

closes

and

the

time

when

the

Funds'

net

assets

are

calculated,

such

securities

will

valued

fair

value

accordance

with

procedures

adopted

the

Adviser,

subject

the

oversight

the

Board. To

the

extent

these

securities

are

actively

traded

and

valuation

adjustments

are

applied,

they

are

generally

classified

Level

1. When

valuation

adjustments

are

applied

the

most

recent

last

sales

price

official

closing

price, these

securities

are

generally

classified

Level

Notes

Financial

Statements

(continued)

Prices

certain

American

Depositary

Receipts

(“ADR”)

held

the

Funds

that

trade

the

United

States

are

valued

based

the

last

traded

price,

official

closing

price,

evaluated

price

provided

the

pricing

services and

are

generally

classified

Level

Investments

investment

companies

are

valued

their

respective

NAVs

price on

the

valuation

date

and

are

generally

classified

Level

Repurchase

agreements

are

valued

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

Level

For

any

portfolio

security

derivative

for

which

market

quotations

are

not

readily

available

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

reflect

fair

value,

the

Adviser

will

determine

fair

value

good

faith

using

alternative

procedures

approved

the

Adviser,

subject

the

oversight

the

Board.

general

principle,

the

fair

value

security

the

amount

that

the

owner

might

reasonably

expect

receive

for

current

sale.

variety

factors

may

considered

determining

the

fair

value

such

securities,

which

may

include

consideration

the

following:

yields

prices

investments

comparable

quality,

type

issue,

coupon,

maturity

and

rating,

market

quotes

indications

value

from

security

dealers,

evaluations

anticipated

cash

flows

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

the

extent

the

inputs

are

observable

and

timely,

the

values

would

classified

Level

otherwise

they

would

classified

Level

The

following

table

summarizes

the

market

value

the

Funds’

investments

the

end

the

reporting

period,

based

the

inputs

used

value

them:

Dividend

Value

Level

Total

Long-Term

Investments:

Common

Stocks

3,249,594,805

–

3,249,594,805

Short-Term

Investments:

Repurchase

Agreements

–

2,652,280

–

2,652,280

Total

3,249,594,805

2,652,280

–

3,252,247,085

Large

Cap

Select

Level

Total

Long-Term

Investments:

Common

Stocks

47,038,019

–

47,038,019

Short-Term

Investments:

Repurchase

Agreements

–

150,000

–

150,000

Total

47,038,019

150,000

–

47,188,019

Mid

Cap

Growth

Opportunities

Level

Total

Long-Term

Investments:

Common

Stocks

177,457,870

–

177,457,870

Short-Term

Investments:

Repurchase

Agreements

–

4,397,998

–

4,397,998

Total

177,457,870

4,397,998

–

181,855,868

Mid

Cap

Value

Level

Total

Long-Term

Investments:

Common

Stocks

445,207,723

–

445,207,723

Short-Term

Investments:

Repurchase

Agreements

–

350,000

–

350,000

Total

445,207,723

350,000

–

445,557,723

Small

Cap

Growth

Opportunities

Level

Total

Long-Term

Investments:

Common

Stocks

236,767,937

–

5,911

236,773,848

Investments

Purchased

with

Collateral

from

Securities

Lending

1,566,886

–

1,566,886

Short-Term

Investments:

Repurchase

Agreements

–

1,875,000

–

1,875,000

Total

238,334,823

1,875,000

5,911

240,215,734

Portfolio

Securities

Repurchase

Agreements:

connection

with

transactions

repurchase

agreements,

each

Fund's

policy

that

its

custodian

take

possession

the

underlying

collateral

securities,

the

fair

value

which

exceeds

the

principal

amount

the

repurchase

transaction,

including

accrued

interest,

all

times.

the

counterparty

defaults,

and

the

fair

value

the

collateral

declines,

realization

the

collateral

may

delayed

limited.

The

following

table

presents

the

repurchase

agreements

for

the

Funds

that

are

subject

netting

agreements

the

end

the

reporting

period,

and

the

collateral

delivered

those

repurchase

agreements.

Securities

Lending:

Each

Fund

may

lend

securities

representing

one-third

the

value

its

total

assets

broker-dealers,

banks,

and

other

institutions

order

generate

additional

income.

When

loaning

securities, a

Fund

retains

the

benefits

owning

the

securities,

including

the

economic

equivalent

dividends

interest

generated

the

security.

The

loans

are

continuous,

can

recalled

any

time,

and

have

set

maturity.

The

Funds'

custodian,

State

Street

Bank

and

Trust

Company,

serves

the

securities

lending

agent

(the

“Agent”).

When

Fund

loans

its

portfolio

securities,

will

receive,

the

inception

each

loan,

cash

collateral

equal

amount

not

less

than

100%

the

market

value

the

loaned

securities.

The

actual

percentage

the

cash

collateral

will

vary

depending

upon

the

asset

type

the

loaned

securities.

Collateral

for

the

loaned

securities

invested

government

money

market

vehicle

maintained

the

Agent,

which

subject

the

requirements

Rule

2a-7

under

the

1940

Act.

The

value

the

loaned

securities

and

the

liability

return

the

cash

collateral

received

are

recognized

the

Statement

Assets

and

Liabilities.

the

market

value

the

loaned

securities

increases,

the

borrower

must

furnish

additional

collateral

the

Fund,

which

also

recognized

the

Statement

Assets

and

Liabilities.

Securities

out

loan

are

subject

termination

any

time

the

option

the

borrower

the

Fund.

Upon

termination,

the

borrower

required

return

the

Fund

securities

identical

the

securities

loaned.

During

the

term

the

loan,

the

Fund

bears

the

market

risk

with

respect

the

investment

collateral

and

the

risk

that

the

Agent

may

default

its

contractual

obligations

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

its

obligation

return

the

loaned

securities

the

Agent

contractually

obligated

indemnify

the

Fund

the

time

default

borrower

some

all

the

loan

securities

have

not

been

returned.

Securities

lending

income

recognized

Fund

consists

earnings

invested

collateral

and

lending

fees,

net

any

rebates

the

borrower

and

compensation

the

Agent.

Such

income

recognized

the

Statement

Operations.

the

end

the

current

fiscal

period,

the

total

value

the

loaned

securities

and

the

total

value

collateral

received

were

follows:

Small

Cap

Select

Level

Total

Long-Term

Investments:

Common

Stocks

141,980,378

–

141,980,378

Investment

Companies

1,415,765

–

1,415,765

Investments

Purchased

with

Collateral

from

Securities

Lending

1,124,887

–

1,124,887

Short-Term

Investments:

Repurchase

Agreements

–

3,147,038

–

3,147,038

Total

144,521,030

3,147,038

–

147,668,068

Small

Cap

Value

Level

Total

Long-Term

Investments:

Common

Stocks

418,798,121

–

418,798,121

Short-Term

Investments:

Repurchase

Agreements

–

250,000

–

250,000

Total

418,798,121

250,000

–

419,048,121

Fund

Counterparty

Short-term

Investments,

Value

Collateral

Pledged

(From)

Counterparty

Dividend

Value

Fixed

Income

Clearing

Corporation

$2,652,280

$(2,705,688)

Large

Cap

Select

Fixed

Income

Clearing

Corporation

150,000

(153,055)

Mid

Cap

Growth

Opportunities

Fixed

Income

Clearing

Corporation

4,397,998

(4,486,014)

Mid

Cap

Value

Fixed

Income

Clearing

Corporation

350,000

(357,083)

Small

Cap

Growth

Opportunities

Fixed

Income

Clearing

Corporation

1,875,000

(1,912,508)

Small

Cap

Select

Fixed

Income

Clearing

Corporation

3,147,038

(3,210,221)

Small

Cap

Value

Fixed

Income

Clearing

Corporation

250,000

(255,001)

Fund

Asset

Class

out

Loan

Long-Term

Investments,

Value

Total

Collateral

Received

Small

Cap

Growth

Opportunities

Common

Stock

$1,453,770

$1,566,886

Small

Cap

Select

Common

Stock

$1,049,371

$1,124,887

Notes

Financial

Statements

(continued)

Purchases

and

Sales:

Long-term

purchases

and

sales

during

the

current

fiscal

period

were

follows:

The

Funds

may

purchase

securities

when-issued

delayed-delivery

basis.

Securities

purchased

when-issued

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

not

accrued

until

settlement

date.

Any

securities

purchased

are

subject

market

fluctuation

during

this

period. If

Fund

has

outstanding

when-issued/delayed-delivery

purchases

commitments

the

end

the

reporting

period,

such

amounts

are

recognized

the

Statement

Assets

and

Liabilities.

Derivative

Investments

Each

Fund

authorized

invest

certain

derivative

instruments.

defined

U.S.

GAAP,

derivative

financial

instrument

whose

value

derived

from

underlying

security

price,

foreign

exchange

rate,

interest

rate,

index

prices

rates,

other

variables.

Investments

derivatives

the

end

and/or

during

the

current

fiscal

period,

any,

are

included

within

the

Statement

Assets

and

Liabilities

and

the

Statement

Operations,

respectively.

Although

the

Funds

are

authorized

invest

derivative

instruments,

and

may

the

future,

they

did

not

make

any

such

investments

during

the

current

fiscal

period.

Market

and

Counterparty

Credit

Risk:

the

normal

course

business

each

Fund

may

invest

financial

instruments

and

enter

into

financial

transactions

where

risk

potential

loss

exists

due

changes

the

market

(market

risk)

failure

the

other

party

the

transaction

perform

(counterparty

credit

risk).

The

potential

loss

could

exceed

the

value

the

financial

assets

recorded

the

financial

statements.

Financial

assets,

which

potentially

expose

each

Fund

counterparty

credit

risk,

consist

principally

cash

due

from

counterparties

forward,

option

and

swap

transactions,

when

applicable.

The

extent

each

Fund’s

exposure

counterparty

credit

risk

respect

these

financial

assets

approximates

their

carrying

value

recorded

the

Statement

Assets

and

Liabilities.

Each

Fund

helps

manage

counterparty

credit

risk

entering

into

agreements

only

with

counterparties

the

Adviser

believes

have

the

financial

resources

honor

their

obligations

and

having

the

Adviser

monitor

the

financial

stability

the

counterparties.

Additionally,

counterparties

may

required

pledge

collateral

daily

(based

the

daily

valuation

the

financial

asset)

behalf

each

Fund

with

value

approximately

equal

the

amount

any

unrealized

gain

above

pre-determined

threshold.

Reciprocally,

when

each

Fund

has

unrealized

loss,

the

Funds

have

instructed

the

custodian

pledge

assets

the

Funds

collateral

with

value

approximately

equal

the

amount

the

unrealized

loss

above

pre-determined

threshold.

Collateral

pledges

are

monitored

and

subsequently

adjusted

and

when

the

valuations

fluctuate,

either

down,

least

the

pre-determined

threshold

amount.

Fund

Non-U.S.

Government

Purchases

Non-U.S.

Government

Sales

Dividend

Value

2,474,871,994

2,777,821,173

Large

Cap

Select

33,512,191

35,177,503

Mid

Cap

Growth

Opportunities

108,533,594

146,858,315

Mid

Cap

Value

87,861,747

150,789,098

Small

Cap

Growth

Opportunities

146,197,984

149,579,700

Small

Cap

Select

82,514,951

65,949,605

Small

Cap

Value

99,566,076

234,108,586

Fund

Transactions

in Fund

during

the

current

and

prior

fiscal

period

were

follows:

Year

Ended

10/31/24

Year

Ended

10/31/23

Dividend

Value

Amount

Subscriptions:

Class

572,319

$8,320,557

958,829

$12,850,821

Class

automatic

conversion

Class

168

2,474

927

13,056

Class

27,453

380,250

91,260

1,224,573

Class

16,854,028

257,374,380

20,360,222

278,077,698

Class

688,530

10,190,956

1,070,481

14,672,865

Total

subscriptions

18,142,498

276,268,617

22,481,719

306,839,013

Reinvestments

distributions:

Class

1,232,795

17,205,529

2,304,003

30,788,061

Class

28,014

376,200

71,768

937,614

Class

8,699,807

125,348,401

15,931,719

218,264,142

Class

1,020,199

14,519,774

2,074,336

28,163,186

Total

reinvestments

distributions

10,980,815

157,449,904

20,381,826

278,153,003

Redemptions:

Class

(3,373,772)

(48,942,526)

(4,025,433)

(53,972,692)

Class

(196,341)

(2,779,980)

(350,399)

(4,571,507)

Class

automatic

conversion

Class

(173)

(2,474)

(948)

(13,056)

Class

(34,705,615)

(521,546,646)

(48,296,697)

(678,350,211)

Class

(4,436,815)

(65,562,505)

(6,151,658)

(83,834,646)

Total

redemptions

(42,712,716)

(638,834,131)

(58,825,135)

(820,742,112)

Net

increase

(decrease)

(13,589,403)

$(205,115,610)

(15,961,590)

$(235,750,096)

Year

Ended

10/31/24

Year

Ended

10/31/23

Large

Cap

Select

Amount

Subscriptions:

Class

39,588

$1,527,867

50,816

$1,645,845

Class

automatic

conversion

Class

148

6,270

1,130

Class

5,960

212,602

4,853

141,642

Class

74,628

2,686,449

173,605

5,931,106

Total

subscriptions

120,324

4,433,188

229,311

7,719,723

Reinvestments

distributions:

Class

16,239

583,022

45,851

1,348,903

Class

804

25,413

2,958

77,615

Class

5,330

194,287

12,307

366,681

Total

reinvestments

distributions

22,373

802,722

61,116

1,793,199

Redemptions:

Class

(85,045)

(3,307,432)

(65,450)

(2,025,266)

Class

(14,263)

(515,515)

(13,301)

(368,098)

Class

automatic

conversion

Class

(167)

(6,270)

(41)

(1,130)

Class

(54,656)

(2,202,668)

(229,938)

(7,487,217)

Total

redemptions

(154,131)

(6,031,885)

(308,730)

(9,881,711)

Net

increase

(decrease)

(11,434)

$(795,975)

(18,303)

$(368,789)

Notes

Financial

Statements

(continued)

Year

Ended

10/31/24

Year

Ended

10/31/23

Mid

Cap

Growth

Opportunities

Amount

Subscriptions:

Class

242,019

$5,796,258

195,160

$4,063,105

Class

16,243

629,916

11,473

372,528

Class

134,205

5,044,342

179,915

5,743,791

Total

subscriptions

392,467

11,470,516

386,548

10,179,424

Redemptions:

Class

(1,201,333)

(28,959,885)

(1,212,892)

(24,953,686)

Class

(23,783)

(902,819)

(613,029)

(19,744,173)

Class

(473,011)

(17,227,706)

(1,143,803)

(34,883,309)

Total

redemptions

(1,698,127)

(47,090,410)

(2,969,724)

(79,581,168)

Net

increase

(decrease)

(1,305,660)

$(35,619,894)

(2,583,176)

$(69,401,744)

Year

Ended

10/31/24

Year

Ended

10/31/23

Mid

Cap

Value

Amount

Subscriptions:

Class

109,642

$5,837,095

136,449

$6,697,528

Class

4,142

202,775

7,693

350,832

Class

301,381

16,407,613

214,471

10,592,675

Class

666,662

36,162,325

1,497,161

73,255,279

Total

subscriptions

1,081,827

58,609,808

1,855,774

90,896,314

Reinvestments

distributions:

Class

37,898

1,961,034

76,911

3,666,455

Class

2,643

125,640

6,781

299,981

Class

22,652

1,185,733

42,594

2,048,372

Class

208,877

10,888,682

442,983

21,235,855

Total

reinvestments

distributions

272,070

14,161,089

569,269

27,250,663

Redemptions:

Class

(252,208)

(13,450,023)

(230,963)

(11,273,527)

Class

(35,218)

(1,723,320)

(29,754)

(1,345,462)

Class

(241,991)

(13,179,161)

(230,097)

(11,312,860)

Class

(1,845,338)

(99,714,414)

(2,552,713)

(126,127,396)

Total

redemptions

(2,374,755)

(128,066,918)

(3,043,527)

(150,059,245)

Net

increase

(decrease)

(1,020,858)

$(55,296,021)

(618,484)

$(31,912,268)

Year

Ended

10/31/24

Year

Ended

10/31/23

Small

Cap

Growth

Opportunities

Amount

Subscriptions:

Class

330,498

$7,915,214

233,760

$4,786,149

Class

74,719

2,425,626

27,533

759,281

Class

796,503

25,394,413

1,629,330

44,128,247

Total

subscriptions

1,201,720

35,735,253

1,890,623

49,673,677

Redemptions:

Class

(489,758)

(11,751,385)

(385,617)

(7,875,629)

Class

(21,246)

(680,696)

(17,517)

(473,143)

Class

(811,716)

(25,381,764)

(1,015,300)

(27,313,628)

Total

redemptions

(1,322,720)

(37,813,845)

(1,418,434)

(35,662,400)

Net

increase

(decrease)

(121,000)

$(2,078,592)

472,189

$14,011,277

Income

Tax

Information

Each

Fund

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

distribute

substantially

all

its

net

investment

income

and

net

capital

gains

shareholders

and

otherwise

comply

with

the

requirements

Subchapter

the

Internal

Revenue

Code

applicable

regulated

investment

companies.

Therefore,

federal

income

tax

provision

required.

Each

Fund

files

income

tax

returns

U.S.

federal

and

applicable

state

and

local

jurisdictions.

Fund's

federal

income

tax

returns

are

generally

subject

examination

for

period

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

subject

examination

for

additional

period

time

depending

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

provision

for

income

tax

required

the

Fund's

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

timing

differences

recognizing

gains

and

losses

investment

transactions.

Temporary

differences

not

require

reclassification.

year

end,

permanent

differences

that

resulted

reclassifications

among

the

components

net

assets

relate

primarily

net

operating

losses,

return

capital

and

long-term

capital

gain

Year

Ended

10/31/24

Year

Ended

10/31/23

Small

Cap

Select

Amount

Subscriptions:

Class

276,562

$2,684,004

268,337

$2,224,307

Class

57,850

797,219

198,656

2,312,765

Class

3,213,598

47,003,044

938,569

11,023,188

Total

subscriptions

3,548,010

50,484,267

1,405,562

15,560,260

Reinvestments

distributions:

Class

—

9,202

73,153

Class

—

1,387

15,877

Class

—

15,778

180,021

Total

reinvestments

distributions

—

26,367

269,051

Redemptions:

Class

(1,224,215)

(11,894,959)

(1,049,135)

(8,657,561)

Class

(266,645)

(3,680,632)

(93,050)

(1,124,865)

Class

(1,366,605)

(18,453,149)

(1,460,295)

(17,368,283)

Total

redemptions

(2,857,465)

(34,028,740)

(2,602,480)

(27,150,709)

Net

increase

(decrease)

690,545

$16,455,527

(1,170,551)

$(11,321,398)

Year

Ended

10/31/24

Year

Ended

10/31/23

Small

Cap

Value

Amount

Subscriptions:

Class

397,344

$11,286,403

389,417

$9,966,704

Class

13,764

315,947

22,666

488,418

Class

698,972

20,823,329

947,416

25,458,819

Class

863,054

25,462,480

1,735,689

46,946,264

Total

subscriptions

1,973,134

57,888,159

3,095,188

82,860,205

Reinvestments

distributions:

Class

22,881

643,857

33,205

837,773

Class

643

15,084

1,539

32,398

Class

49,598

1,456,201

60,916

1,602,085

Class

71,129

2,076,968

96,978

2,537,917

Total

reinvestments

distributions

144,251

4,192,110

192,638

5,010,173

Redemptions:

Class

(950,474)

(27,279,931)

(1,037,455)

(26,511,687)

Class

(275,466)

(6,458,050)

(268,194)

(5,704,949)

Class

(1,345,599)

(39,346,228)

(1,200,166)

(32,170,084)

Class

(4,451,890)

(126,368,325)

(2,811,703)

(74,815,903)

Total

redemptions

(7,023,429)

(199,452,534)

(5,317,518)

(139,202,623)

Net

increase

(decrease)

(4,906,044)

$(137,372,265)

(2,029,692)

$(51,332,245)

Notes

Financial

Statements

(continued)

distributions

received

from

portfolio

investments,

and

tax

equalization.

Temporary

and

permanent

differences

have

impact

Fund's

net

assets.

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

all

investments

for

federal

income

tax

purposes

were

follows:

For

purposes

this

disclosure,

tax

cost

generally

includes

the

cost

portfolio

investments

well

up-front

fees

premiums

exchanged

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

applicable.

year

end,

the

components

accumulated

earnings

tax

basis

were

follows:

The

tax

character

distributions

paid

was

follows:

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

Dividend

Value

2,675,341,395

636,920,009

(60,014,319)

576,905,690

Large

Cap

Select

33,785,982

14,099,709

(697,672)

13,402,037

Mid

Cap

Growth

Opportunities

145,886,842

44,957,334

(8,988,308)

35,969,026

Mid

Cap

Value

315,164,989

139,964,792

(9,572,058)

130,392,734

Small

Cap

Growth

Opportunities

190,871,358

60,941,546

(11,597,170)

49,344,376

Small

Cap

Select

117,782,395

34,989,798

(5,104,125)

29,885,673

Small

Cap

Value

332,067,112

120,942,432

(33,961,423)

86,981,009

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

61,031,667

199,057,310

576,905,690

(8,921,256)

—

(193,777)

827,879,634

Large

Cap

Select

2,010,544

3,522,241

13,402,037

—

18,934,822

Mid

Cap

Growth

Opportunities

—

35,969,026

(13,588,332)

(1,005,473)

(33,680)

21,341,541

Mid

Cap

Value

4,570,162

17,809,951

130,392,734

—

(12,615)

152,760,232

Small

Cap

Growth

Opportunities

—

49,344,376

(7,601,730)

(798,265)

—

40,944,381

Small

Cap

Select

169,739

3,745,674

29,885,673

—

(9,506)

33,791,580

Small

Cap

Value

2,381,152

—

86,980,959

(164,106,952)

—

(33,284)

(74,778,125)

10/31/24

10/31/23

Fund

Ordinary

Income

Long-Term

Capital

Gains

Return

Capital

Ordinary

Income

Long-Term

Capital

Gains

Return

Capital

Dividend

Value

52,162,192

107,060,042

—

66,465,398

215,417,701

—

Large

Cap

Select

240,114

672,466

—

252,889

1,838,697

—

Mid

Cap

Growth

Opportunities

—

Mid

Cap

Value

5,258,926

9,543,667

—

6,024,358

22,475,338

—

Small

Cap

Growth

Opportunities

—

Small

Cap

Select

—

26,815

—

248,366

Small

Cap

Value

5,011,509

—

6,038,364

—

Fund

Short-Term

Long-Term

Total

Dividend

Value

8,921,256

—

8,921,256

Large

Cap

Select

—

Mid

Cap

Growth

Opportunities

13,588,332

—

13,588,332

Mid

Cap

Value

—

Small

Cap

Growth

Opportunities

7,601,730

—

7,601,730

Small

Cap

Select

—

Small

Cap

Value

83,928,062

80,178,890

164,106,952

year

end,

the

Funds

utilized

the

following

capital

loss

carryforwards:

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

compensated

for

its

services

the

Funds

from

the

management

fees

paid

the

Adviser.

Each

Fund’s

management

fee

consists

two

components

–

fund-level

fee,

based

only

the

amount

assets

within

each

individual

Fund,

and

complex-level

fee,

based

the

aggregate

amount

all

eligible

fund

assets

managed

the

Adviser.

This

pricing

structure

enables

each

Fund’s

shareholders

benefit

from

growth

the

assets

within

their

respective

Fund

well

from

growth

the

amount

complex-wide

assets

managed

the

Adviser.

The

annual

fund-level

fee,

payable

monthly,

for

each

Fund

calculated

according

the

following

schedule:

For

the

period

November

2023

through

April

30,

2024,

the

annual

complex-level

fee,

payable

monthly,

for

each

Fund

was

calculated

according

the

following

schedule:

portion

Dividend

Value's

capital

loss

carryforwards

are

subject

annual

limitation

under

the

Internal

Revenue

Code

and

regulations.

Fund

Utilized

Dividend

Value

2,361,442

Large

Cap

Select

—

Mid

Cap

Growth

Opportunities

14,262,507

Mid

Cap

Value

—

Small

Cap

Growth

Opportunities

16,317,332

Small

Cap

Select

4,334,104

Small

Cap

Value

36,205,521

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

0.6000

0.6500

For

the

$125

million

0.4875

0.5875

0.6375

For

the

$250

million

0.4750

0.5750

0.6250

For

the

$500

million

0.4625

0.5625

0.6125

For

the

billion

0.4500

0.5500

0.6000

For

the

billion

0.4250

0.5250

0.5750

For

the

$2.5

billion

0.4000

0.5000

0.5500

For

the

$2.5

billion

0.3875

0.4875

0.5375

For

net

assets

over

$10

billion

0.3750

0.4750

0.5250

Complex-Level

Eligible

Asset

Breakpoint

Level*

Effective

Complex-Level

Fee

Rate

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

Notes

Financial

Statements

(continued)

The

complex-level

fee

calculated

based

upon

the

aggregate

daily

“eligible

assets”

all

Nuveen

open-end

and

closed-end

funds.

Eligible

assets

not

include

assets

attributable

investments

other

Nuveen

funds

assets

excess

determined

amount

(originally

billion)

added

the

Nuveen

fund

complex

connection

with

the

Adviser’s

assumption

the

management

the

former

First

American

Funds

effective

January

2011,

but

include

certain

assets

certain

Nuveen

funds

that

were

reorganized

into

funds

advised

affiliate

the

Adviser

during

the

2019

calendar

year.

Eligible

assets

include

closed-end

fund

assets

managed

the

Adviser

that

are

attributable

certain

types

leverage.

For

these

purposes,

leverage

includes

the

closed-end

funds’

use

preferred

stock

and

borrowings

and

certain

investments

the

residual

interest

certificates

(also

called

inverse

floating

rate

securities)

tender

option

bond

(TOB)

trusts,

including

the

portion

assets

held

TOB

trust

that

has

been

effectively

financed

the

trust’s

issuance

floating

rate

securities,

subject

agreement

the

Adviser

certain

funds

limit

the

amount

such

assets

for

determining

eligible

assets

certain

circumstances.

Effective

May

2024

the

annual

complex-level

fee,

payable

monthly,

for

each

Fund

calculated

according

the

following

schedule:

The

complex-level

fee

calculated

based

upon

the

aggregate

daily

“eligible

assets”

all

Nuveen-branded

closed-end

funds

and

Nuveen

branded

open-end

funds

(“Nuveen

Mutual

Funds”).

Except

described

below,

eligible

assets

include

the

assets

all

Nuveen-branded

closed-end

funds

and

Nuveen

Mutual

Funds

organized

the

United

States.

Eligible

assets

not

include

the

net

assets

of:

Nuveen

fund-of-funds,

Nuveen

money

market

funds,

Nuveen

index

funds,

Nuveen

Large

Cap

Responsible

Equity

Fund

Nuveen

Life

Large

Cap

Responsible

Equity

Fund.

addition,

eligible

assets

include

fixed

percentage

the

aggregate

net

assets

the

active

equity

and

fixed

income

Nuveen

Mutual

Funds

advised

the

Adviser’s

affiliate,

Teachers

Advisors,

LLC

(except

those

identified

above).

The

fixed

percentage

will

increase

annually

until

May

2033,

which

time

eligible

assets

will

include

all

the

aggregate

net

assets

the

active

equity

and

fixed

income

Nuveen

Mutual

Funds

advised

Teachers

Advisors,

LLC

(except

those

identified

above).

Eligible

assets

include

closed-end

fund

assets

managed

the

Adviser

that

are

attributable

financial

leverage.

For

these

purposes,

financial

leverage

includes

the

closed-end

funds’

use

preferred

stock

and

borrowings

and

certain

investments

the

residual

interest

certificates

(also

called

inverse

floating

rate

securities)

tender

option

bond

(TOB)

trusts,

including

the

portion

assets

held

TOB

trust

that

has

been

effectively

financed

the

trust’s

issuance

floating

rate

securities,

subject

agreement

the

Adviser

certain

funds

limit

the

amount

such

assets

for

determining

eligible

assets

certain

circumstances.

October

31,

2024,

the

complex-level

fee

rate

for

each

Fund

was

follows:

The

Adviser

has

agreed

waive

fees

and/or

reimburse

expenses

(“Expense

Cap”)

the

Funds

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

acquiring

and

disposing

portfolio

securities

and

extraordinary

expenses)

not

exceed

the

average

daily

net

assets

any

class

Fund

the

amounts

and

for

the

time

period

stated

the

following

table.

However,

because

Class

are

not

subject

sub-transfer

agent

and

similar

fees,

the

total

annual

fund

operating

expenses

for

the

Class

will

not

less

than

the

expense

limitation.

The

expense

limitation

expiring

July

31,

2026,

may

terminated

modified

prior

that

date

only

with

the

approval

the

Board.

Complex-Level

Asset

Breakpoint

Level*

Complex-Level

Fee

For

the

first

$124.3

billion

0.1600

For

the

$75.7

billion

0.1350

For

the

$200

billion

0.1325

For

eligible

assets

over

$400

billion

0.1300

Fund

Complex-Level

Fee

Dividend

Value

.1572%

Large

Cap

Select

.1572%

Mid

Cap

Growth

Opportunities

.1572%

Mid

Cap

Value

.1572%

Small

Cap

Growth

Opportunities

.1572%

Small

Cap

Select

.1572%

Small

Cap

Value

.1572%

Fund

Expense

Cap

Expense

Cap

Expiration

Date

Dividend

Value

0.74%

July

31,

2026

Large

Cap

Select

0.80

July

31,

2026

Mid

Cap

Growth

Opportunities

0.92

July

31,

2026

Mid

Cap

Value

0.92

July

31,

2026

Small

Cap

Growth

Opportunities

0.99

July

31,

2026

Small

Cap

Select

0.99

July

31,

2026

Small

Cap

Value

0.99

July

31,

2026

Distribution

and

Service

Fees:

Each

Fund

has

adopted

distribution

and

service

plan

under

rule

12b-1

under

the

1940

Act.

Class

incur

0.25%

annual

12b-1

service

fee.

Class

incur

0.75%

annual

12b-1

distribution

fee

and

0.25%

annual

12b-1

service

fee.

Class

and

Class

are

not

subject

12b-1

distribution

service

fees.

The

fees

under

this

plan

compensate

Nuveen

Securities,

LLC,

(the

“Distributor”),

wholly-owned

subsidiary

Nuveen,

for

services

provided

and

expenses

incurred

distributing

the

Funds

and

establishing

and

maintaining

shareholder

accounts.

Other

Transactions

with

Affiliates:

The

Funds

receive

voluntary

compensation

from

the

Adviser

amounts

that

approximate

the

cost

research

services

obtained

from

broker-dealers

and

research

providers

the

Adviser

had

purchased

the

research

services

directly.

This

income

received

the

Funds

recognized

"Affiliated

income"

the

Statement

Operations

and

any

amounts

due

the Funds

the

end

the

reporting

period

recognized

"Reimbursement

from

Adviser"

the

Statement

Assets

and Liabilities. During

the

current

fiscal

period,

the

values

voluntary

compensation

were

follows:

Each

Fund

permitted

purchase

sell

securities

from

certain

other

funds

accounts

managed

the

Sub-Adviser

(“Affiliated

Entity”)

under

specified

conditions

outlined

procedures

adopted

the

Board

("cross-trade").

These

procedures

have

been

designed

ensure

that

any

cross-trade

securities

the

Fund

from

Affiliated

Entity

virtue

having

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

the

current

market

price

(as

provided

independent

pricing

service)

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

engage

cross-trades

pursuant

these

procedures.

During

the

current

fiscal

period,

the

Distributor,

collected

sales

charges

purchases

Class

Shares,

the

majority

which

were

paid

out

concessions

financial

intermediaries

follows:

The

Distributor

also

received

12b-1

service

fees

Class

Shares,

substantially

all

which

were

paid

compensate

financial

intermediaries

for

providing

services

shareholders

relating

their

investments.

Fund

Amount

Dividend

Value

1,631,960

Large

Cap

Select

19,584

Mid

Cap

Growth

Opportunities

58,315

Mid

Cap

Value

93,872

Small

Cap

Growth

Opportunities

127,309

Small

Cap

Select

62,405

Small

Cap

Value

185,684

Fund

Purchases

Sales

Realized

Gain

(Loss)

Dividend

Value

378,148

374,846

14,144

Large

Cap

Select

—

Mid

Cap

Growth

Opportunities

2,539,979

276,507

29,651

Mid

Cap

Value

—

Small

Cap

Growth

Opportunities

—

3,647,334

1,660,481

Small

Cap

Select

—

Small

Cap

Value

2,072,039

1,837,149

410,633

Fund

Sales

Charges

Collected

(Unaudited)

Paid

Financial

Intermediaries

(Unaudited)

Dividend

Value

84,374

74,683

Large

Cap

Select

8,249

7,283

Mid

Cap

Growth

Opportunities

25,230

22,739

Mid

Cap

Value

20,792

18,506

Small

Cap

Growth

Opportunities

19,079

17,094

Small

Cap

Select

16,515

14,619

Small

Cap

Value

9,908

9,036

Notes

Financial

Statements

(continued)

During

the

current

fiscal

period,

the

Distributor

compensated

financial

intermediaries

directly

with

commission

advances

the

time

purchase

follows:

compensate

for

commissions

advanced

financial

intermediaries,

all

12b-1

service

and

distribution

fees

collected

Class

during

the

first

year

following

purchase

are

retained

the

Distributor.

During

the

current

fiscal

period,

the

Distributor

retained

such

12b-1

fees

follows:

The

remaining

12b-1

fees

charged

each

Fund

were

paid

compensate

financial

intermediaries

for

providing

services

shareholders

relating

their

investments.

The

Distributor

also

collected

and

retained

CDSC

redemptions

during

the

current

fiscal

period,

follows:

the

end

the

reporting

period,

the

percentage

Fund

owned

TIAA

and/or

TIAA

affiliates

are

follows:

Fund

Commission

Advances

(Unaudited)

Dividend

Value

5,916

Large

Cap

Select

849

Mid

Cap

Growth

Opportunities

—

Mid

Cap

Value

2,260

Small

Cap

Growth

Opportunities

—

Small

Cap

Select

—

Small

Cap

Value

5,552

Fund

12b-1

Fees

Retained

(Unaudited)

Dividend

Value

600

Large

Cap

Select

Mid

Cap

Growth

Opportunities

—

Mid

Cap

Value

1,266

Small

Cap

Growth

Opportunities

—

Small

Cap

Select

—

Small

Cap

Value

2,543

Fund

CDSC

Retained

(Unaudited)

Dividend

Value

6,784

Large

Cap

Select

—

Mid

Cap

Growth

Opportunities

—

Mid

Cap

Value

204

Small

Cap

Growth

Opportunities

—

Small

Cap

Select

—

Small

Cap

Value

136

Borrowing

Arrangements

Committed

Line

Credit:

The

Funds,

along

with

certain

funds

managed

the

Advisor

and

affiliate

the

Adviser

(“Participating

Funds”),

have

established

364-day,

$2.700

billion

standby

credit

facility

with

group

lenders,

under

which

the

Participating

Funds

may

borrow

for

temporary

purposes

(other

than

on-going

leveraging

for

investment

purposes).

Each

Participating

Fund

allocated

designated

proportion

the

facility’s

capacity

(and

its

associated

costs,

described

below)

based

upon

multi-factor

assessment

the

likelihood

and

frequency

its

need

draw

the

facility,

the

size

the

Fund

and

its

anticipated

draws,

and

the

potential

importance

such

draws

the

operations

and

well-being

the

Fund,

relative

those

the

other

Funds.

Fund

may

effect

draws

the

facility

excess

its

designated

capacity

and

the

exte

that

other

Participating

Funds

have

undrawn

capacity.

The

credit

facility

expires

June

2025

unless

extended

renewed.

The

credit

facility

has

the

following

terms:

0.15%

per

annum

unused

commitment

amounts

and

drawn

interest

rate

equal

the

higher

(a)

OBFR

(Overnight

Bank

Funding

Rate)

plus

1.20%

per

annum

(b)

the

Fed

Funds

Effective

Rate

plus

1.20%

per

annum

amounts

borrowed. The

Participating

Funds

also

incurred

0.05%

upfront

fee

the

increased

commitments

from

select

lenders.

Interest

expense

incurred

the

Participating

Funds,

when

applicable,

recognized

component

“Interest

expense”

the

Statement

Operations.

Participating

Funds

paid

administration,

legal

and

arrangement

fees,

which

are

recognized

component

“Interest

expense”

the

Statement

Operations,

and

along

with

commitment

fees,

have

been

allocated

among

such

Participating

Funds

based

upon

the

relative

proportions

the

facility’s

aggregate

capacity

reserved

for

them

and

other

factors

deemed

relevant

the

Adviser

and

the

Board

each

Participating

Fund.

During

the

current

fiscal

period,

the

Funds

did

not

utilize

this

facility.

Dividend

Value

TIAA-CREF

Lifecycle

Retirement

Income

Fund

—%*

TIAA-CREF

Lifecycle

2010

Fund

TIAA-CREF

Lifecycle

2015

Fund

TIAA-CREF

Lifecycle

2020

Fund

TIAA-CREF

Lifecycle

2025

Fund

TIAA-CREF

Lifecycle

2030

Fund

TIAA-CREF

Lifecycle

2035

Fund

TIAA-CREF

Lifecycle

2040

Fund

TIAA-CREF

Lifecycle

2045

Fund

TIAA-CREF

Lifecycle

2050

Fund

TIAA-CREF

Lifecycle

2055

Fund

TIAA-CREF

Lifecycle

2060

Fund

TIAA-CREF

Lifecycle

2065

Fund

—*

TIAA-CREF

Lifestyle

Aggressive

Growth

Fund

TIAA-CREF

Lifestyle

Conservative

Fund

—*

TIAA-CREF

Lifestyle

Growth

Fund

TIAA-CREF

Lifestyle

Income

Fund

—*

TIAA-CREF

Lifestyle

Moderate

Fund

TIAA-CREF

Managed

Allocation

Fund

Rounds

less

than

Important

Tax

Information

naudited)

required

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

detailed

below,

must

provided

shareholders.

Shareholders

are

advised

consult

their

tax

advisor

with

respect

the

tax

implications

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

Form

1099-DIV,

which

will

sent

shareholders

shortly

after

calendar

year

end.

Long-Term

Capital

Gains

year

end,

each

Fund

designates

the

following

distribution

amounts,

maximum

amount

allowable,

being

from net

long-term

capital

gains

pursuant

Section

852(b)(3)

the

Internal

Revenue

Code:

Dividends

Received

Deduction

(DRD)

Each

Fund

listed

below

had

the

following

percentage,

maximum

amount

allowable,

ordinary

income

distributions

eligible

for

the

dividends

received

deduction

for

corporate

shareholders:

Qualified

Dividend

Income

(QDI)

Each

Fund

listed

below

had

the

following

percentage,

maximum

amount

allowable,

ordinary

income

distributions

treated

qualified

dividend

income

for

individuals

pursuant

Section

1(h)(11)

the

Internal

Revenue

Code:

Fund

Net

Long-Term

Capital

Gains

Dividend

Value

118,991,391

Large

Cap

Select

928,997

Mid

Cap

Growth

Opportunities

—

Mid

Cap

Value

12,065,412

Small

Cap

Growth

Opportunities

—

Small

Cap

Select

324,450

Small

Cap

Value

—

Fund

Percentage

Dividend

Value

100

Large

Cap

Select

100

Mid

Cap

Growth

Opportunities

–

Mid

Cap

Value

100

Small

Cap

Growth

Opportunities

–

Small

Cap

Select

–

Small

Cap

Value

100

Fund

Percentage

Dividend

Value

100

Large

Cap

Select

100

Mid

Cap

Growth

Opportunities

–

Mid

Cap

Value

100

Small

Cap

Growth

Opportunities

–

Small

Cap

Select

–

Small

Cap

Value

100

Qualified

Interest

Income

(QII)

Each

Fund

listed

below

had

the

following

percentage,

maximum

amount

allowable,

ordinary

income

distributions

treated

qualified interest

income

and/or short-term

capital

gain

dividends pursuant

Section

871(k)

the

Internal

Revenue

Code:

163(j)

Each

Fund

listed

below

had

the

following

percentage,

maximum

amount

allowable,

ordinary

dividends

treated

Section

163(j)

interest

dividends

pursuant

Section

163(j)

the

Internal

Revenue

Code:

Fund

Prior

Year

End

12/31

Percentage

1/1

Current

Year

End

Percentage

Dividend

Value

Large

Cap

Select

—

Mid

Cap

Growth

Opportunities

—

Mid

Cap

Value

—

Small

Cap

Growth

Opportunities

—

Small

Cap

Select

—

Small

Cap

Value

—

Fund

Percentage

Dividend

Value

Large

Cap

Select

Mid

Cap

Growth

Opportunities

–

Mid

Cap

Value

Small

Cap

Growth

Opportunities

–

Small

Cap

Select

–

Small

Cap

Value

Item 8.

Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

Item 9.

Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

Item 10.

Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Remuneration paid to directors, officers and others is included in the Statement of Operations under the line items “Trustee Fees” and “Management Fees” as part of the financial statements filed under Item 7 of this Form N-CSR.

Item 11.

Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable to this filing.

Item 12.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 13.

Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 14.

Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to open-end investment companies.

Item 15.

Submission of Matters to a Vote of Security Holders.

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

Item 16.

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 17.

Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

(a)	Not applicable to open-end investment companies.

(b)	Not applicable to open-end investment companies.

Item 18.

Recovery of Erroneously Awarded Compensation.

(a)	Not applicable.

(b)	Not applicable.

Item 19.

Exhibits.


(a)(1)		Not applicable because the code of ethics is available, upon request and without charge, by calling 800-257-8787 and there were no amendments during the period covered by this report.

(a)(2)		Not applicable.

(a)(3)		Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(4)		Not applicable.

(a)(5)		Not applicable.

(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 is attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Nuveen Investment Funds, Inc.


Date: January 6, 2025	By:	/s/ Jordan M. Farris
		Jordan M. Farris
		Chief Administrative Officer

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.


Date: January 6, 2025	By:	/s/ Jordan M. Farris
		Jordan M. Farris
		Chief Administrative Officer (principal executive officer)

Date: January 6, 2025	By:	/s/ Marc Cardella
		Marc Cardella
		Vice President and Controller (principal financial officer)

Nuveen Large Cap Select Fund (FLRAX) N-CSRCertified annual shareholder report (management investment company)