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 811-06161
Virtus Investment Trust
(Exact name of registrant as specified in charter)
101 Munson Street
Greenfield, MA 01301-9683
(Address of principal executive offices) (Zip code)
Jennifer Fromm, Esq.
Vice President, Chief Legal Officer, Counsel and Secretary for Registrant
One Financial Plaza
Hartford, CT 06103-2608
(Name and address of agent for service)
Registrant’s telephone number, including area code: 800-243-1574
Date of fiscal year end: June 30
Date of reporting period: June 30, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
(a) | The Report to Shareholders is attached herewith. |
(b) | Not applicable. |
Virtus Emerging Markets Opportunities Fund* (f/k/a Virtus AllianzGI Emerging Markets Opportunities Fund) | ||
Virtus Focused Growth Fund* (f/k/a Virtus AllianzGI Focused Growth Fund) | ||
Virtus Global Small-Cap Fund* (f/k/a Virtus AllianzGI Global Small-Cap Fund) | ||
Virtus Health Sciences Fund* (f/k/a Virtus AllianzGI Health Sciences Fund) | ||
Virtus Income & Growth Fund* (f/k/a Virtus AllianzGI Income & Growth Fund) | ||
Virtus Mid-Cap Growth Fund* (f/k/a Virtus AllianzGI Mid-Cap Growth Fund) | ||
Virtus NFJ Dividend Value Fund | ||
Virtus NFJ International Value Fund | ||
Virtus NFJ Large-Cap Value Fund | ||
Virtus NFJ Mid-Cap Value Fund | ||
Virtus NFJ Small-Cap Value Fund | ||
Virtus Small-Cap Fund* (f/k/a Virtus AllianzGI Small-Cap Fund) | ||
Virtus Technology Fund* (f/k/a Virtus AllianzGI Technology Fund) |
1 | ||
2 | ||
6 | ||
Fund | Fund Summary | Schedule of Investments |
9 | 51 | |
13 | 53 | |
16 | 55 | |
20 | 58 | |
23 | 59 | |
27 | 71 | |
30 | 73 | |
33 | 75 | |
36 | 77 | |
39 | 79 | |
42 | 81 | |
45 | 83 | |
48 | 87 | |
89 | ||
97 | ||
101 | ||
106 | ||
118 | ||
140 | ||
141 | ||
142 | ||
143 |
President, Virtus Investment Trust
August 2022
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
Emerging Markets Opportunities Fund | ||||||||
Class A | $ 1,000.00 | $ 824.00 | 1.29 % | $ 5.83 | ||||
Class C | 1,000.00 | 821.20 | 2.04 | 9.21 | ||||
Class P | 1,000.00 | 825.10 | 1.04 | 4.71 | ||||
Institutional Class | 1,000.00 | 825.40 | 0.94 | 4.25 | ||||
Class R6 | 1,000.00 | 825.70 | 0.90 | 4.07 | ||||
Focused Growth Fund | ||||||||
Class A | 1,000.00 | 686.70 | 0.93 | 3.89 | ||||
Class C | 1,000.00 | 684.00 | 1.71 | 7.14 | ||||
Class P | 1,000.00 | 687.40 | 0.71 | 2.97 | ||||
Institutional Class | 1,000.00 | 687.60 | 0.68 | 2.85 | ||||
Class R6 | 1,000.00 | 687.80 | 0.63 | 2.64 | ||||
Administrative Class | 1,000.00 | 686.90 | 0.93 | 3.89 | ||||
Global Small-Cap Fund | ||||||||
Class A | 1,000.00 | 738.30 | 1.57 | 6.77 | ||||
Class C | 1,000.00 | 735.50 | 2.34 | 10.07 | ||||
Class P | 1,000.00 | 739.30 | 1.28 | 5.52 | ||||
Institutional Class | 1,000.00 | 739.40 | 1.29 | 5.56 | ||||
Health Sciences Fund | ||||||||
Class A | 1,000.00 | 873.90 | 1.39 | 6.46 | ||||
Class C | 1,000.00 | 871.00 | 2.13 | 9.88 | ||||
Class P | 1,000.00 | 875.40 | 1.05 | 4.88 | ||||
Institutional Class | 1,000.00 | 874.80 | 1.13 | 5.25 | ||||
Income & Growth Fund | ||||||||
Class A | 1,000.00 | 790.80 | 1.16 | 5.15 | ||||
Class C | 1,000.00 | 788.10 | 1.91 | 8.47 | ||||
Class P | 1,000.00 | 791.50 | 0.93 | 4.13 | ||||
Institutional Class | 1,000.00 | 791.70 | 0.94 | 4.18 | ||||
Mid-Cap Growth Fund | ||||||||
Class A | 1,000.00 | 640.80 | 1.00 | 4.07 | ||||
Class C | 1,000.00 | 639.50 | 1.77 | 7.20 | ||||
Class P | 1,000.00 | 641.60 | 0.77 | 3.13 | ||||
Institutional Class | 1,000.00 | 641.40 | 0.80 | 3.26 | ||||
Administrative Class | 1,000.00 | 639.40 | 1.22 | 4.96 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
NFJ Dividend Value Fund | ||||||||
Class A | $1,000.00 | $856.10 | 1.02% | $ 4.69 | ||||
Class C | 1,000.00 | 853.30 | 1.67 | 7.67 | ||||
Class P | 1,000.00 | 856.90 | 0.71 | 3.27 | ||||
Institutional Class | 1,000.00 | 856.70 | 0.70 | 3.22 | ||||
Class R6 | 1,000.00 | 857.10 | 0.62 | 2.85 | ||||
Administrative Class | 1,000.00 | 855.80 | 0.99 | 4.56 | ||||
NFJ International Value Fund | ||||||||
Class A | 1,000.00 | 802.70 | 1.30 | 5.81 | ||||
Class C | 1,000.00 | 799.50 | 2.03 | 9.06 | ||||
Class P | 1,000.00 | 803.80 | 1.04 | 4.65 | ||||
Institutional Class | 1,000.00 | 803.90 | 0.95 | 4.25 | ||||
Class R6 | 1,000.00 | 804.30 | 0.91 | 4.07 | ||||
Administrative Class | 1,000.00 | 803.30 | 1.20 | 5.37 | ||||
NFJ Large-Cap Value Fund | ||||||||
Class A | 1,000.00 | 852.60 | 1.00 | 4.59 | ||||
Class C | 1,000.00 | 849.60 | 1.76 | 8.07 | ||||
Class P | 1,000.00 | 854.10 | 0.74 | 3.40 | ||||
Institutional Class | 1,000.00 | 854.10 | 0.72 | 3.31 | ||||
Class R6 | 1,000.00 | 854.30 | 0.65 | 2.99 | ||||
Administrative Class | 1,000.00 | 853.40 | 0.85 | 3.91 | ||||
NFJ Mid-Cap Value Fund | ||||||||
Class A | 1,000.00 | 856.80 | 1.01 | 4.65 | ||||
Class C | 1,000.00 | 853.80 | 1.75 | 8.04 | ||||
Class P | 1,000.00 | 858.20 | 0.75 | 3.46 | ||||
Institutional Class | 1,000.00 | 858.30 | 0.66 | 3.04 | ||||
Class R6 | 1,000.00 | 858.50 | 0.61 | 2.81 | ||||
Administrative Class | 1,000.00 | 857.40 | 0.90 | 4.14 | ||||
NFJ Small-Cap Value Fund | ||||||||
Class A | 1,000.00 | 833.90 | 1.18 | 5.37 | ||||
Class C | 1,000.00 | 830.80 | 1.93 | 8.76 | ||||
Class P | 1,000.00 | 835.60 | 0.87 | �� | 3.96 | |||
Institutional Class | 1,000.00 | 835.20 | 0.83 | 3.78 | ||||
Class R6 | 1,000.00 | 836.10 | 0.78 | 3.55 | ||||
Administrative Class | 1,000.00 | 834.30 | 1.08 | 4.91 | ||||
Small-Cap Fund | ||||||||
Class A | 1,000.00 | 770.60 | 1.18 | 5.18 | ||||
Class C | 1,000.00 | 767.40 | 1.93 | 8.46 | ||||
Class P | 1,000.00 | 771.60 | 0.93 | 4.09 | ||||
Institutional Class | 1,000.00 | 772.10 | 0.83 | 3.65 | ||||
Class R6 | 1,000.00 | 771.90 | 0.78 | 3.43 | ||||
Technology Fund | ||||||||
Class A | 1,000.00 | 642.10 | 1.44 | 5.86 | ||||
Class C | 1,000.00 | 639.70 | 2.16 | 8.78 | ||||
Class P | 1,000.00 | 643.10 | 1.13 | 4.60 | ||||
Institutional Class | 1,000.00 | 642.80 | 1.21 | 4.93 | ||||
Administrative Class | 1,000.00 | 642.00 | 1.48 | 6.03 |
* | Expenses are equal to the relevant Fund’s annualized expense ratio, which is net of waived fees and reimbursed expenses, if applicable, multiplied by the average account value over the period, multiplied by the number of days (181) expenses were accrued in the most recent fiscal half-year, then divided by 365 to reflect the one-half year period. |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
Emerging Markets Opportunities Fund | ||||||||
Class A | $ 1,000.00 | $ 1,018.40 | 1.29 % | $ 6.46 | ||||
Class C | 1,000.00 | 1,014.68 | 2.04 | 10.19 | ||||
Class P | 1,000.00 | 1,019.64 | 1.04 | 5.21 | ||||
Institutional Class | 1,000.00 | 1,020.13 | 0.94 | 4.71 | ||||
Class R6 | 1,000.00 | 1,020.33 | 0.90 | 4.51 | ||||
Focused Growth Fund | ||||||||
Class A | 1,000.00 | 1,020.18 | 0.93 | 4.66 | ||||
Class C | 1,000.00 | 1,016.31 | 1.71 | 8.55 | ||||
Class P | 1,000.00 | 1,021.27 | 0.71 | 3.56 | ||||
Institutional Class | 1,000.00 | 1,021.42 | 0.68 | 3.41 | ||||
Class R6 | 1,000.00 | 1,021.67 | 0.63 | 3.16 | ||||
Administrative Class | 1,000.00 | 1,020.18 | 0.93 | 4.66 | ||||
Global Small-Cap Fund | ||||||||
Class A | 1,000.00 | 1,017.01 | 1.57 | 7.85 | ||||
Class C | 1,000.00 | 1,013.19 | 2.34 | 11.68 | ||||
Class P | 1,000.00 | 1,018.45 | 1.28 | 6.41 | ||||
Institutional Class | 1,000.00 | 1,018.40 | 1.29 | 6.46 | ||||
Health Sciences Fund | ||||||||
Class A | 1,000.00 | 1,017.90 | 1.39 | 6.95 | ||||
Class C | 1,000.00 | 1,014.23 | 2.13 | 10.64 | ||||
Class P | 1,000.00 | 1,019.59 | 1.05 | 5.26 | ||||
Institutional Class | 1,000.00 | 1,019.19 | 1.13 | 5.66 | ||||
Income & Growth Fund | ||||||||
Class A | 1,000.00 | 1,019.04 | 1.16 | 5.81 | ||||
Class C | 1,000.00 | 1,015.32 | 1.91 | 9.54 | ||||
Class P | 1,000.00 | 1,020.18 | 0.93 | 4.66 | ||||
Institutional Class | 1,000.00 | 1,020.13 | 0.94 | 4.71 | ||||
Mid-Cap Growth Fund | ||||||||
Class A | 1,000.00 | 1,019.84 | 1.00 | 5.01 | ||||
Class C | 1,000.00 | 1,016.02 | 1.77 | 8.85 | ||||
Class P | 1,000.00 | 1,020.98 | 0.77 | 3.86 | ||||
Institutional Class | 1,000.00 | 1,020.83 | 0.80 | 4.01 | ||||
Administrative Class | 1,000.00 | 1,018.74 | 1.22 | 6.11 | ||||
NFJ Dividend Value Fund | ||||||||
Class A | 1,000.00 | 1,019.74 | 1.02 | 5.11 | ||||
Class C | 1,000.00 | 1,016.51 | 1.67 | 8.35 | ||||
Class P | 1,000.00 | 1,021.27 | 0.71 | 3.56 | ||||
Institutional Class | 1,000.00 | 1,021.32 | 0.70 | 3.51 | ||||
Class R6 | 1,000.00 | 1,021.72 | 0.62 | 3.11 | ||||
Administrative Class | 1,000.00 | 1,019.89 | 0.99 | 4.96 | ||||
NFJ International Value Fund | ||||||||
Class A | 1,000.00 | 1,018.35 | 1.30 | 6.51 | ||||
Class C | 1,000.00 | 1,014.73 | 2.03 | 10.14 | ||||
Class P | 1,000.00 | 1,019.64 | 1.04 | 5.21 | ||||
Institutional Class | 1,000.00 | 1,020.08 | 0.95 | 4.76 | ||||
Class R6 | 1,000.00 | 1,020.28 | 0.91 | 4.56 | ||||
Administrative Class | 1,000.00 | 1,018.84 | 1.20 | 6.01 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Annualized Expense Ratio | Expenses Paid During Period* | |||||
NFJ Large-Cap Value Fund | ||||||||
Class A | $1,000.00 | $1,019.84 | 1.00% | $ 5.01 | ||||
Class C | 1,000.00 | 1,016.07 | 1.76 | 8.80 | ||||
Class P | 1,000.00 | 1,021.12 | 0.74 | 3.71 | ||||
Institutional Class | 1,000.00 | 1,021.22 | 0.72 | 3.61 | ||||
Class R6 | 1,000.00 | 1,021.57 | 0.65 | 3.26 | ||||
Administrative Class | 1,000.00 | 1,020.58 | 0.85 | 4.26 | ||||
NFJ Mid-Cap Value Fund | ||||||||
Class A | 1,000.00 | 1,019.79 | 1.01 | 5.06 | ||||
Class C | 1,000.00 | 1,016.12 | 1.75 | 8.75 | ||||
Class P | 1,000.00 | 1,021.08 | 0.75 | 3.76 | ||||
Institutional Class | 1,000.00 | 1,021.52 | 0.66 | 3.31 | ||||
Class R6 | 1,000.00 | 1,021.77 | 0.61 | 3.06 | ||||
Administrative Class | 1,000.00 | 1,020.33 | 0.90 | 4.51 | ||||
NFJ Small-Cap Value Fund | ||||||||
Class A | 1,000.00 | 1,018.94 | 1.18 | 5.91 | ||||
Class C | 1,000.00 | 1,015.22 | 1.93 | 9.64 | ||||
Class P | 1,000.00 | 1,020.48 | 0.87 | 4.36 | ||||
Institutional Class | 1,000.00 | 1,020.68 | 0.83 | 4.16 | ||||
Class R6 | 1,000.00 | 1,020.93 | 0.78 | 3.91 | ||||
Administrative Class | 1,000.00 | 1,019.44 | 1.08 | 5.41 | ||||
Small-Cap Fund | ||||||||
Class A | 1,000.00 | 1,018.94 | 1.18 | 5.91 | ||||
Class C | 1,000.00 | 1,015.22 | 1.93 | 9.64 | ||||
Class P | 1,000.00 | 1,020.18 | 0.93 | 4.66 | ||||
Institutional Class | 1,000.00 | 1,020.68 | 0.83 | 4.16 | ||||
Class R6 | 1,000.00 | 1,020.93 | 0.78 | 3.91 | ||||
Technology Fund | ||||||||
Class A | 1,000.00 | 1,017.65 | 1.44 | 7.20 | ||||
Class C | 1,000.00 | 1,014.08 | 2.16 | 10.79 | ||||
Class P | 1,000.00 | 1,019.19 | 1.13 | 5.66 | ||||
Institutional Class | 1,000.00 | 1,018.79 | 1.21 | 6.06 | ||||
Administrative Class | 1,000.00 | 1,017.46 | 1.48 | 7.40 |
* | Expenses are equal to the relevant Fund’s annualized expense ratio, which is net of waived fees and reimbursed expenses, if applicable, multiplied by the average account value over the period, multiplied by the number of days (181) expenses were accrued in the most recent fiscal half-year, then divided by 365 to reflect the one-half year period. |
June 30, 2022
June 30, 2022
Ticker Symbols: | |
Class A : AOTAX | |
Class C: AOTCX | |
Class P: AEMPX | |
Institutional Class: AOTIX | |
Class R6: AEMOX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking to maximize long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -26.17%, Class C shares at NAV returned -26.70%, Class P shares at NAV returned -25.98%†, Institutional Class shares at NAV returned -25.92%, and Class R6 shares at NAV returned -25.87%†. For the same period, the MSCI Emerging Markets Index (net), the Fund’s style-specific benchmark appropriate for comparison, returned -25.28%. |
Banks | 27% |
Semiconductors & Semiconductor Equipment | 11 |
Oil, Gas & Consumable Fuels | 8 |
Internet & Direct Marketing Retail | 6 |
Interactive Media & Services | 4 |
Beverages | 3 |
Technology Hardware, Storage & Peripherals | 3 |
Food Products | 3 |
Insurance | 3 |
Automobiles | 3 |
Other | 29 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -26.17 % | 2.07 % | 3.32 % | — % | — | |||||||
Class A shares at POP3,4 | -30.23 | 0.92 | 2.73 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | -26.70 | 1.31 | 2.55 | — | — | |||||||
Class P shares at NAV2 | -25.98 5 | 2.33 | 3.58 | — | — | |||||||
Institutional Class shares at NAV2 | -25.92 | 2.44 | 3.68 | — | — | |||||||
Class R6 shares at NAV2 | -25.87 5 | 2.48 | — | 6.11 | 12/14/15 | |||||||
MSCI Emerging Markets Index (net) | -25.28 | 2.18 | 3.06 | 6.53 6 | — | |||||||
Fund Expense Ratios7: Class A shares: Gross 1.53%, Net 1.29%; Class C shares: Gross 2.22%, Net 2.04%; Class P shares: Gross 1.22%, Net 1.04%; Institutional Class shares: Gross 1.23%, Net 0.94%; Class R6 shares: Gross 1.11%, Net 0.89% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The since inception index return is from the inception date of Class R6 shares. |
7 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : PGWAX | |
Class C: PGWCX | |
Class P: AOGPX | |
Institutional Class: PGFIX | |
Class R6: AFGFX | |
Administrative Class: PGFAX |
Allianz Global Investors U.S. LLC
■ | The Fund is non-diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -25.81%, Class C shares at NAV returned -26.37%, Class P shares at NAV returned -25.65%†, Institutional Class shares at NAV returned -25.61%, Class R6 shares at NAV returned -25.57%, and Administrative Class shares at NAV returned -25.79%. For the same period, the Russell 1000® Growth Index, the Fund’s style-specific benchmark appropriate for comparison, returned -18.77%. |
Software | 16% |
Technology Hardware, Storage & Peripherals | 14 |
Interactive Media & Services | 10 |
Pharmaceuticals | 8 |
IT Services | 7 |
Internet & Direct Marketing Retail | 6 |
Semiconductors & Semiconductor Equipment | 6 |
Automobiles | 5 |
Hotels, Restaurants & Leisure | 4 |
Healthcare Providers & Services | 3 |
Other (includes short-term investment) | 21 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -25.81 % | 12.48 % | 13.92 % | — % | — | |||||||
Class A shares at POP3,4 | -29.89 | 11.22 | 13.28 | — | — | |||||||
Class C shares at NAV2 and with CDSC5 | -26.37 | 11.62 | 13.06 | — | — | |||||||
Class P shares at NAV2 | -25.65 5 | 12.74 | 14.19 | — | — | |||||||
Institutional Class shares at NAV2 | -25.61 | 12.83 | 14.30 | — | — | |||||||
Class R6 shares at NAV2 | -25.57 | 12.90 | — | 12.48 | 12/14/15 | |||||||
Administrative Class shares at NAV2 | -25.79 | 12.56 | 14.01 | — | — | |||||||
Russell 1000® Growth Index | -18.77 | 14.29 | 14.80 | 14.30 6 | — | |||||||
Fund Expense Ratios7: Class A shares: Gross 0.95%, Net 0.95%; Class C shares: Gross 1.69%, Net 1.69%; Class P shares: Gross 0.70%, Net 0.70%; Institutional Class shares: Gross 0.71%, Net 0.67%; Class R6 shares: Gross 0.63%, Net 0.62%; Administrative Class shares: Gross 1.02%, Net 0.92% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The since inception index return is from the inception date of Class R6 shares. |
7 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : RGSAX | |
Class C: RGSCX | |
Class P: ARSPX | |
Institutional Class: DGSCX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -26.07%, Class C shares at NAV returned -26.64%, Class P shares at NAV returned -25.86%†, and Institutional Class shares at NAV returned -25.86%. For the same period, the MSCI World Small-Cap Index (net), the Fund’s style-specific benchmark appropriate for comparison, returned -21.97%. |
Machinery | 6% |
Commercial Services & Supplies | 6 |
IT Services | 5 |
Equity Real Estate Investment | 4 |
Oil, Gas & Consumable Fuels | 4 |
Banks | 4 |
Hotels, Restaurants & Leisure | 4 |
Metals & Mining | 4 |
Software | 3 |
Food & Staples Retailing | 3 |
Other (includes short-term investment) | 57 |
Total | 100% |
1 Year | 5 Years | 10 Years | ||||||
Class A shares at NAV2 | -26.07 % | 4.35% | 7.77% | |||||
Class A shares at POP3,4 | -30.14 | 3.17 | 7.16 | |||||
Class C shares at NAV2 and with CDSC4 | -26.64 | 3.56 | 6.96 | |||||
Class P shares at NAV2 | -25.86 5 | 4.61 | 8.04 | |||||
Institutional Class shares at NAV2 | -25.86 | 4.69 | 8.14 | |||||
MSCI World Small-Cap Index (net) | -21.97 | 4.78 | 8.79 | |||||
Fund Expense Ratios6: Class A shares: Gross 1.56%, Net 1.56%; Class C shares: Gross 2.31%, Net 2.31%; Class P shares: Gross 1.29%, Net 1.29%; Institutional Class shares: Gross 1.30%, Net 1.28% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : RAGHX | |
Class C: RCGHX | |
Class P: AAAEX | |
Institutional Class: HLHIX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -3.75%, Class C shares at NAV returned -4.47%, Class P shares at NAV returned -3.42%, and Institutional Class shares at NAV returned -3.53%. For the same period, the MSCI World Health Care Index (net), the Fund’s style-specific benchmark appropriate for comparison, returned -2.26%. |
Pharmaceuticals | 45% |
Healthcare Providers & Services | 20 |
Biotechnology | 14 |
Healthcare Equipment & Supplies | 11 |
Life Sciences Tools & Services | 9 |
Personal Products | 1 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -3.75 % | 10.65 % | 13.37 % | — % | — | |||||||
Class A shares at POP3,4 | -9.05 | 9.41 | 12.73 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | -4.47 | 9.84 | 12.53 | — | — | |||||||
Class P shares at NAV2 | -3.42 | — | — | 10.92 | 7/13/20 | |||||||
Institutional Class shares at NAV2 | -3.53 | 11.00 | — | 9.69 | 12/22/14 | |||||||
MSCI World Health Care Index (net) | -2.26 | 9.74 | 12.29 | — 5 | — | |||||||
Fund Expense Ratios6: Class A shares: Gross 1.36%, Net 1.36%; Class C shares: Gross 2.13%, Net 2.13%; Class P shares: Gross 1.04%, Net 1.04%; Institutional Class shares: Gross 1.14%, Net 1.12% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index returned 9.12% for the inception date of Class P shares and 8.12% for the inception date of Institutional Class shares. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AZNAX | |
Class C: AZNCX | |
Class P: AIGPX | |
Institutional Class: AZNIX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking total return comprised of current income, current gains and capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -17.59%†, Class C shares at NAV returned -18.24%†, Class P shares at NAV returned -17.41%†, and Institutional Class shares at NAV returned -17.42%†. For the same period, the S&P 500® Index, the Fund’s style-specific benchmark appropriate for comparison, returned -10.62% and Bloomberg U.S. Aggregate Bond Index, a broad-based index, returned -10.29%. |
Corporate Bonds and Notes | 34% | |
Media | 4% | |
Oil, Gas & Consumable Fuels | 3 | |
Telecommunications | 2 | |
All other Corporate Bonds and Notes | 25 | |
Common Stocks | 31 | |
Software | 4 | |
Interactive Media & Services | 2 | |
Technology Hardware, Storage & Peripherals | 2 | |
All other Common Stocks | 23 | |
Convertible Bonds and Notes | 25 | |
Internet | 5 | |
Software | 5 | |
Commercial Services | 2 | |
All other Convertible Bonds and Notes | 13 | |
Convertible Preferred Stocks | 7 | |
Short-Term Investment | 3 | |
Total | 100% |
1 Year | 5 Years | 10 Years | ||||||
Class A shares at NAV2 | -17.59 % 3 | 5.81% | 7.20% | |||||
Class A shares at POP4,5 | -22.12 | 4.62 | 6.59 | |||||
Class C shares at NAV2 and with CDSC4 | -18.24 3 | 5.03 | 6.39 | |||||
Class P shares at NAV2 | -17.41 3 | 6.08 | 7.46 | |||||
Institutional Class shares at NAV2 | -17.42 3 | 6.15 | 7.55 | |||||
Bloomberg U.S. Aggregate Bond Index | -10.29 | 0.88 | 1.54 | |||||
S&P 500® Index | -10.62 | 11.31 | 12.96 | |||||
Fund Expense Ratios6: Class A shares: 1.12%; Class C shares: 1.88%; Class P shares: 0.89%; Institutional Class shares: 0.91% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
4 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
5 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : RMDAX | |
Class C: RMDCX | |
Class P: ARMPX | |
Institutional Class: DRMCX | |
Administrative Class: DRMAX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -33.42%, Class C shares at NAV returned -33.91%, Class P shares at NAV returned -33.30%, Institutional Class shares at NAV returned -33.33%, and Administrative Class at NAV returned -33.52%. For the same period, the Russell Midcap® Growth Index, the Fund’s style-specific benchmark appropriate for comparison, returned -29.57%. |
Software | 15% |
Semiconductors & Semiconductor Equipment | 11 |
Healthcare Equipment & Supplies | 8 |
Specialty Retail | 6 |
Healthcare Providers & Services | 6 |
Electronic Equipment, Instruments & Components | 5 |
Equity Real Estate Investment | 4 |
Trading Companies & Distributors | 3 |
Construction & Engineering | 3 |
Commercial Services & Supplies | 3 |
Other (includes short-term investment) | 36 |
Total | 100% |
1 Year | 5 Years | 10 Years | ||||||
Class A shares at NAV2 | -33.42 % | 9.71% | 11.75% | |||||
Class A shares at POP3,4 | -37.08 | 8.47 | 11.12 | |||||
Class C shares at NAV2 and with CDSC4 | -33.91 | 8.90 | 10.93 | |||||
Class P shares at NAV2 | -33.30 | 9.98 | 12.05 | |||||
Institutional Class shares at NAV2 | -33.33 | 10.05 | 12.13 | |||||
Administrative Class shares at NAV2 | -33.52 | 9.72 | 11.83 | |||||
Russell Midcap® Growth Index | -29.57 | 8.88 | 11.50 | |||||
Fund Expense Ratios5: Class A shares: 0.97%; Class C shares: 1.72%; Class P shares: 0.74%; Institutional Class shares: 0.77%; Administrative Class shares: 0.91% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : PNEAX | |
Class C: PNECX | |
Class P: ADJPX | |
Institutional Class: NFJEX | |
Class R6: ANDVX | |
Administrative Class: ANDAX |
NFJ Investment Group, LLC
■ | The Fund is diversified and has an investment objective of seeking long-term growth of capital and income. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -4.16%, Class C shares at NAV returned -4.91%, Class P shares at NAV returned -3.93%, Institutional Class shares at NAV returned -3.95%, Class R6 shares at NAV returned -3.85%, and Administrative Class shares at NAV returned -4.20%. For the same period, the Russell 1000® Value Index, the Fund’s style-specific benchmark appropriate for comparison, returned -6.82%. |
Financials | 22% |
Information Technology | 15 |
Health Care | 13 |
Industrials | 12 |
Real Estate | 10 |
Consumer Discretionary | 8 |
Materials | 6 |
Other (includes short-term investment) | 14 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -4.16 % | 6.00 % | 8.38 % | — % | — | |||||||
Class A shares at POP3,4 | -9.43 | 4.80 | 7.77 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | -4.91 | 5.22 | 7.57 | — | — | |||||||
Class P shares at NAV2 | -3.93 | 6.27 | 8.65 | — | — | |||||||
Institutional Class shares at NAV2 | -3.95 | 6.34 | 8.74 | — | — | |||||||
Class R6 shares at NAV2 | -3.85 | 6.41 | — | 6.46 | 12/19/13 | |||||||
Administrative Class shares at NAV2 | -4.20 | 6.08 | 8.47 | — | ||||||||
Russell 1000® Value Index | -6.82 | 7.17 | 10.50 | 8.03 5 | — | |||||||
Fund Expense Ratios6: Class A shares: Gross 1.02%, Net 1.02%; Class C shares: Gross 1.74%, Net 1.74%; Class P shares: Gross 0.72%, Net 0.72%; Institutional Class shares: Gross 0.72%, Net 0.70%; Class R6 shares: Gross 0.65%, Net 0.65%; Administrative Class shares: Gross 0.93%, Net 0.93% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the inception date of Class R6 shares. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AFJAX | |
Class C: AFJCX | |
Class P: AFVPX | |
Institutional Class: ANJIX | |
Class R6: ANAVX | |
Administrative Class: AIVAX |
NFJ Investment Group, LLC
■ | The Fund is diversified and has an investment objective of seeking long-term growth of capital and income. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -20.78%, Class C shares at NAV returned -21.32%, Class P shares at NAV returned -20.52%, Institutional Class shares at NAV returned -20.52%, Class R6 shares at NAV returned -20.42%, and Administration Class shares at NAV returned -20.69%. For the same period, the MSCI AC World ex USA Index (net), the Fund’s style-specific benchmark appropriate for comparison, returned -19.42% and MSCI AC World ex USA Value Index (net), a broad-based index, returned -12.77%. |
Information Technology | 21% |
Financials | 21 |
Consumer Discretionary | 12 |
Industrials | 10 |
Real Estate | 8 |
Materials | 7 |
Utilities | 5 |
Other (includes short-term investment) | 16 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -20.78 % | 1.55 % | 1.52 % | — % | — | |||||||
Class A shares at POP3,4 | -25.13 | 0.40 | 0.94 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | -21.32 | 0.80 | 0.77 | — | — | |||||||
Class P shares at NAV2 | -20.52 | 1.82 | 1.78 | — | — | |||||||
Institutional Class shares at NAV2 | -20.52 | 1.90 | 1.87 | — | — | |||||||
Class R6 shares at NAV2 | -20.42 | 1.95 | — | -0.22 | 12/19/13 | |||||||
Administrative Class shares at NAV2 | -20.69 | 1.66 | 1.63 | — | — | |||||||
MSCI AC World ex USA Index (net) | -19.42 | 2.50 | 4.83 | 2.72 5 | — | |||||||
MSCI AC World ex USA Value Index (net) | -12.77 | 1.23 | 3.76 | 1.43 5 | — | |||||||
Fund Expense Ratios6: Class A shares: Gross 1.32%, Net 1.30%; Class C shares: Gross 2.00%, Net 2.00%; Class P shares: Gross 0.98%, Net 0.98%; Institutional Class shares: Gross 0.94%, Net 0.94%; Class R6 shares: Gross 0.88%, Net 0.88%; Administrative Class shares: Gross 1.45%, Net 1.20% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the inception date of Class R6 shares. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : PNBAX | |
Class C: PNBCX | |
Class P: ALCPX | |
Institutional Class: ANVIX | |
Class R6: VAAGX | |
Administrative Class: ALNFX |
NFJ Investment Group, LLC
■ | The Fund is diversified and has an investment objective of seeking long-term growth of capital and income. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -6.36%, Class C shares at NAV returned -7.05%, Class P shares at NAV returned -6.10%, Institutional Class shares at NAV returned -6.09%, and Administrative Class shares at NAV returned -6.28%, and Class R6 shares at NAV returned -12.65% from October 29, 2021 (inception date) through June 30, 2022. For the fiscal year ended June 30, 2022, the Russell 1000® Value Index, the Fund’s style-specific benchmark appropriate for comparison, returned -6.82%. |
Financials | 21% |
Information Technology | 17 |
Health Care | 14 |
Industrials | 14 |
Communication Services | 8 |
Consumer Discretionary | 7 |
Materials | 5 |
Other (includes short-term investment) | 14 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -6.36 % | 6.59 % | 9.63 % | — % | — | |||||||
Class A shares at POP3,4 | -11.51 | 5.39 | 9.01 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | -7.05 | 5.79 | 8.81 | — | — | |||||||
Class P shares at NAV2 | -6.10 | 6.86 | 9.91 | — | — | |||||||
Institutional Class shares at NAV2 | -6.09 | 6.94 | 10.00 | — | — | |||||||
Class R6 shares at NAV2 | — | — | — | -12.65 | 10/29/21 | |||||||
Administrative Class shares at NAV2 | -6.28 | 6.68 | 9.73 | — | — | |||||||
Russell 1000® Value Index | -6.82 | 7.17 | 10.50 | -10.63 5 | — | |||||||
Fund Expense Ratios6: Class A shares: Gross 1.02%, Net 1.02%; Class C shares: Gross 1.76%, Net 1.76%; Class P shares: Gross 0.76%, Net 0.76%; Institutional Class shares: Gross 0.79%, Net 0.77%; Class R6 shares: Gross 0.68%, Net 0.65%; Administrative Class shares: Gross 1.07%, Net 1.02% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the inception date of Class R6 shares. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : PQNAX | |
Class C: PQNCX | |
Class P: ANRPX | |
Institutional Class: PRNIX | |
Class R6: ANPRX | |
Administrative Class: PRAAX |
NFJ Investment Group, LLC
■ | The Fund is diversified and has an investment objective of seeking long-term growth of capital and income. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -6.83%, Class C shares at NAV returned -7.48%, Class P shares at NAV returned -6.56%†, Institutional Class shares at NAV returned -6.49%, Class R6 shares at NAV returned -6.45%, and Administrative Class shares at NAV returned -6.70%. For the same period, the Russell Midcap® Value Index, the Fund’s style-specific benchmark appropriate for comparison, returned -10.00%. |
Industrials | 20% |
Financials | 18 |
Consumer Discretionary | 15 |
Information Technology | 13 |
Health Care | 12 |
Real Estate | 7 |
Materials | 6 |
Other (includes short-term investment) | 9 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -6.83 % | 5.15 % | 10.21 % | — % | — | |||||||
Class A shares at POP3,4 | -11.95 | 3.97 | 9.58 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | -7.48 | 4.37 | 9.39 | — | — | |||||||
Class P shares at NAV2 | -6.56 5 | 5.42 | 10.49 | — | — | |||||||
Institutional Class shares at NAV2 | -6.49 | 5.52 | 10.59 | — | — | |||||||
Class R6 shares at NAV2 | -6.45 | — | — | 3.96 | 12/18/17 | |||||||
Administrative Class shares at NAV2 | -6.70 | 5.26 | 10.32 | — | — | |||||||
Russell Midcap® Value Index | -10.00 | 6.27 | 10.62 | 5.22 6 | — | |||||||
Fund Expense Ratios7: Class A shares: Gross 1.11%, Net 1.00%; Class C shares: Gross 1.84%, Net 1.75%; Class P shares: Gross 0.84%, Net 0.75%; Institutional Class shares: Gross 0.82%, Net 0.65%; Class R6 shares: Gross 0.74%, Net 0.60%; Administrative Class shares: Gross 1.03%, Net 0.90% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The since inception index return is from the inception date of Class R6 shares. |
7 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : PCVAX | |
Class C: PCVCX | |
Class P: ASVPX | |
Institutional Class: PSVIX | |
Class R6: ANFVX | |
Administrative Class: PVADX |
NFJ Investment Group, LLC
■ | The Fund is diversified and has an investment objective of seeking long-term growth of capital and income. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -11.08%, Class C shares at NAV returned -11.72%, Class P shares at NAV returned -10.73%, Institutional Class shares at NAV returned -10.72%, Class R6 shares at NAV returned -10.63%, and Administration Class shares at NAV returned -10.95%. For the same period, the Russell 2000® Value Index, the Fund’s style-specific benchmark appropriate for comparison, returned -16.28%. |
Financials | 31% |
Industrials | 18 |
Consumer Discretionary | 15 |
Information Technology | 12 |
Materials | 5 |
Health Care | 5 |
Real Estate | 5 |
Other (includes short-term investment) | 9 |
Total | 100% |
1 Year | 5 Years | 10 Years | Since inception | Inception date | ||||||||
Class A shares at NAV2 | -11.08 % | 1.15 % | 5.92 % | — % | — | |||||||
Class A shares at POP3,4 | -15.97 | 0.01 | 5.33 | — | — | |||||||
Class C shares at NAV2 and with CDSC4 | -11.72 | 0.41 | 5.15 | — | — | |||||||
Class P shares at NAV2 | -10.73 | 1.42 | 6.20 | — | — | |||||||
Institutional Class shares at NAV2 | -10.72 | 1.51 | 6.32 | — | — | |||||||
Class R6 shares at NAV2 | -10.63 | 1.57 | — | 3.38 | 12/19/13 | |||||||
Administrative Class shares at NAV2 | -10.95 | 1.26 | 6.06 | — | ||||||||
Russell 2000® Value Index | -16.28 | 4.89 | 9.05 | 6.22 5 | — | |||||||
Fund Expense Ratios6: Class A shares: Gross 1.22%, Net 1.17%; Class C shares: Gross 1.96%, Net 1.92%; Class P shares: Gross 0.91%, Net 0.91%; Institutional Class shares: Gross 0.87%, Net 0.82%; Class R6 shares: Gross 0.80%, Net 0.77%; Administrative Class shares: Gross 1.83%, Net 1.07% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | The since inception index return is from the inception date of Class R6 shares. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : AZBAX | |
Class C: AZBCX | |
Class P: AZBPX | |
Institutional Class: AZBIX | |
Class R6: ASCFX |
Allianz Global Investors U.S. LLC
■ | The Fund is diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -20.41%†, Class C shares at NAV returned -21.04%, Class P shares at NAV returned -20.20%†, Institutional Class shares at NAV returned -20.14%, and Class R6 at NAV returned -20.10%. For the same period, the Russell 2000® Index, the Fund’s style-specific benchmark appropriate for comparison, returned -25.20%. |
Banks | 8% |
Oil, Gas & Consumable Fuels | 6 |
Biotechnology | 4 |
Healthcare Equipment & Supplies | 4 |
Food Products | 4 |
Insurance | 4 |
Semiconductors & Semiconductor Equipment | 3 |
Trading Companies & Distributors | 3 |
Electric Utilities | 3 |
Professional Services | 3 |
Other (includes short-term investment) | 58 |
Total | 100% |
1 Year | 5 Years | Since inception | Inception date | |||||||
Class A shares at NAV2 | -20.41 % 3 | 6.02 % | 8.12 % | 7/1/13 | ||||||
Class A shares at POP4,5 | -24.79 | 4.83 | 7.44 | 7/1/13 | ||||||
Class C shares at NAV2 and with CDSC4 | -21.04 | 5.23 | 7.31 | 7/1/13 | ||||||
Class P shares at NAV2 | -20.20 3 | 6.29 | 8.39 | 7/1/13 | ||||||
Institutional Class shares at NAV2 | -20.14 | 6.40 | 8.49 | 7/1/13 | ||||||
Class R6 shares at NAV2 | -20.10 | — | 1.91 | 8/22/18 | ||||||
Russell 2000® Index | -25.20 | 5.17 | — 6 | — | ||||||
Fund Expense Ratios7: Class A shares: Gross 1.21%, Net 1.20%; Class C shares: Gross 1.98%, Net 1.95%; Class P shares: Gross 1.08%, Net 0.95%; Institutional Class shares: Gross 1.06%, Net 0.85%; Class R6 shares: Gross 0.89%, Net 0.80% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
4 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
5 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
6 | The since inception index returned 7.66% from the inception date of Class A shares, Class C shares, Class P shares, and Institutional Class shares and 1.08% from the inception date of Class R6 shares. |
7 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Ticker Symbols: | |
Class A : RAGTX | |
Class C: RCGTX | |
Class P: ARTPX | |
Institutional Class: DRGTX | |
Administrative Class: DGTAX |
Allianz Global Investors U.S. LLC
■ | The Fund is non-diversified and has an investment objective of seeking long-term capital appreciation. There is no guarantee that the Fund will meet its objective. |
■ | For the fiscal year ended June 30, 2022, the Fund’s Class A shares at NAV returned -32.06%, Class C shares at NAV returned -32.58%, Class P shares at NAV returned -31.88%†, Institutional Class shares at NAV returned -31.89%, and Administrative Class shares at NAV returned -32.09%. For the same period, the S&P North American Technology Sector Index, the Fund’s style-specific benchmark appropriate for comparison, returned -26.03% and Nasdaq Composite® Index, a broad-based index, returned -23.43%. |
Software | 29% |
Semiconductors & Semiconductor Equipment | 17 |
IT Services | 13 |
Interactive Media & Services | 11 |
Technology Hardware, Storage & Peripherals | 9 |
Internet & Direct Marketing Retail | 3 |
Automobiles | 1 |
Communications Equipment | 1 |
Electronic Equipment, Instruments & Components | 1 |
Hotels, Restaurants & Leisure | 1 |
Other (includes short-term investment) | 14 |
Total | 100% |
1 Year | 5 Years | 10 Years | ||||||
Class A shares at NAV2 | -32.06 % | 14.58% | 16.21% | |||||
Class A shares at POP3,4 | -35.80 | 13.29 | 15.55 | |||||
Class C shares at NAV2 and with CDSC4 | -32.58 | 13.72 | 15.34 | |||||
Class P shares at NAV2 | -31.88 5 | 14.87 | 16.50 | |||||
Institutional Class shares at NAV2 | -31.89 | 14.95 | 16.60 | |||||
Administrative Class shares at NAV2 | -32.09 | 14.65 | 16.30 | |||||
Nasdaq Composite® Index | -23.43 | 13.47 | 15.40 | |||||
S&P North American Technology Index | -26.03 | 16.50 | 17.60 | |||||
Fund Expense Ratios6: Class A shares: Gross 1.42%, Net 1.42%; Class C shares: Gross 2.17%, Net 2.17%; Class P shares: Gross 1.17%, Net 1.17%; Institutional Class shares: Gross 1.15%, Net 1.15%; Administrative Class shares: Gross 1.48%, Net 1.47% |
All returns represent past performance which is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The above table and graph below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. Please visit Virtus.com for performance data current to the most recent month-end. |
1 | Total returns are historical and include changes in share price and the reinvestment of both dividends and capital gain distributions. |
2 | “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
3 | “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. |
4 | “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. CDSC for certain redemptions of Class A shares made within 18 months of a finder’s fee being paid and all Class C shares are 1% within the first year and 0% thereafter. |
5 | Total Return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the NAV at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual report and semiannual report. |
6 | The expense ratios of the Fund are set forth according to the prospectus for the Fund effective October 28, 2021, as supplemented and revised, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report. See the Financial Highlights for more current expense ratios. Net Expense: Expenses reduced by a contractual expense limitation in effect through February 1, 2023. Gross Expense: Does not reflect the effect of the expense limitation. Expense ratios include fees and expenses associated with any underlying funds. |
Shares | Value | ||
Common Stocks—95.8% | |||
Brazil—8.0% | |||
Banco do Brasil S.A. | 142,900 | $ 911 | |
CPFL Energia S.A. | 112,300 | 663 | |
JBS S.A. | 661,600 | 4,001 | |
Klabin S.A. | 189,400 | 731 | |
Petroleo Brasileiro S.A. | 447,700 | 2,614 | |
Vale S.A. | 99,100 | 1,451 | |
10,371 | |||
Cayman Islands—3.3% | |||
Daqo New Energy Corp. ADR(1) | 26,500 | 1,891 | |
Greentown China Holdings Ltd. | 857,000 | 1,776 | |
Pinduoduo, Inc. ADR(1) | 10,819 | 669 | |
4,336 | |||
China—36.9% | |||
Alibaba Group Holding Ltd.(1) | 271,500 | 3,872 | |
Bank of Chengdu Co., Ltd. Class A | 625,500 | 1,549 | |
Bank of Jiangsu Co., Ltd. Class A | 976,800 | 1,039 | |
BYD Co., Ltd. Class H | 18,500 | 740 | |
China Construction Bank Corp. Class H | 3,006,000 | 2,019 | |
China Merchants Bank Co., Ltd. Class H | 184,500 | 1,234 | |
China Railway Group Ltd. Class A | 878,600 | 806 | |
China State Construction Engineering Corp. Ltd. Class A | 987,500 | 785 | |
China Yangtze Power Co., Ltd. Class A | 237,400 | 820 | |
Contemporary Amperex Technology Co., Ltd. Class A | 9,700 | 774 | |
COSCO SHIPPING Holdings Co., Ltd. Class H | 935,000 | 1,306 | |
ENN Natural Gas Co., Ltd. Class A | 1,231,800 | 3,421 | |
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class A | 341,300 | 1,610 | |
JD.com, Inc. Class A | 47,614 | 1,534 | |
Kweichow Moutai Co., Ltd. Class A | 2,600 | 794 | |
Lenovo Group Ltd. | 958,000 | 895 | |
Meituan Class B(1) | 82,500 | 2,042 | |
NetEase, Inc. | 86,700 | 1,592 | |
NIO, Inc. ADR(1) | 36,361 | 790 | |
Nongfu Spring Co., Ltd. Class H | 466,800 | 2,680 | |
PetroChina Co., Ltd. Class H | 7,182,000 | 3,423 |
Shares | Value | ||
China—continued | |||
Postal Savings Bank of China Co., Ltd. Class H | 6,771,000 | $ 5,376 | |
SG Micro Corp. Class A | 19,950 | 542 | |
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A | 16,892 | 820 | |
Sinotrans Ltd. Class A | 2,169,570 | 1,257 | |
Tencent Holdings Ltd. | 98,100 | 4,431 | |
Xiamen C & D, Inc. Class A | 884,500 | 1,727 | |
47,878 | |||
India—12.8% | |||
Axis Bank Ltd.(1) | 102,900 | 830 | |
Eicher Motors Ltd. | 25,335 | 896 | |
HCL Technologies Ltd. | 42,322 | 522 | |
ICICI Bank Ltd. Sponsored ADR | 272,816 | 4,840 | |
Infosys Ltd. | 60,099 | 1,113 | |
ITC Ltd. | 488,071 | 1,690 | |
Mahindra & Mahindra Ltd. | 80,527 | 1,115 | |
Reliance Industries Ltd.(1) | 40,601 | 1,334 | |
State Bank of India | 492,473 | 2,905 | |
Tata Consultancy Services Ltd. | 31,871 | 1,318 | |
16,563 | |||
Indonesia—2.5% | |||
Bank Central Asia Tbk PT | 2,594,300 | 1,263 | |
Bank Mandiri Persero Tbk PT | 2,211,900 | 1,177 | |
Telkom Indonesia Persero Tbk PT | 2,950,600 | 792 | |
3,232 | |||
Mexico—2.8% | |||
America Movil SAB de CV Series L | 2,724,000 | 2,788 | |
Grupo Financiero Banorte SAB de CV Class O | 164,100 | 917 | |
3,705 | |||
Russia—0.0% | |||
Gazprom PJSC(2) | 1,323,341 | 1 | |
LUKOIL PJSC Sponsored ADR(2) | 55,455 | — (3) | |
1 | |||
South Africa—3.0% | |||
Absa Group Ltd. | 190,088 | 1,806 | |
FirstRand Ltd. | 252,504 | 968 | |
Gold Fields Ltd. Sponsored ADR | 67,107 | 612 | |
MTN Group Ltd. | 59,588 | 484 | |
3,870 | |||
Shares | Value | ||
South Korea—9.0% | |||
Hana Financial Group, Inc. | 110,665 | $ 3,354 | |
KB Financial Group, Inc. | 18,219 | 676 | |
KT Corp. | 34,306 | 963 | |
LG Innotek Co., Ltd. | 5,651 | 1,491 | |
POSCO Holdings, Inc. | 3,687 | 654 | |
Samsung Electronics Co., Ltd. | 59,692 | 2,620 | |
SK Hynix, Inc. | 28,021 | 1,964 | |
11,722 | |||
Taiwan—14.3% | |||
Asustek Computer, Inc. | 71,000 | 741 | |
Cathay Financial Holding Co., Ltd. | 2,096,000 | 3,588 | |
ChipMOS Technologies, Inc. | 466,000 | 579 | |
CTBC Financial Holding Co., Ltd. | 4,520,000 | 3,816 | |
Hon Hai Precision Industry Co., Ltd. | 362,000 | 1,327 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 530,000 | 8,485 | |
18,536 | |||
Thailand—1.6% | |||
PTT Exploration & Production PCL | 458,000 | 2,066 | |
Turkey—0.7% | |||
Arcelik AS | 206,070 | 895 | |
United States—0.9% | |||
Freeport-McMoRan, Inc. | 13,274 | 389 | |
Mosaic Co. (The) | 15,522 | 733 | |
1,122 | |||
Total Common Stocks (Identified Cost $125,063) | 124,297 | ||
Total Long-Term Investments—95.8% (Identified Cost $125,063) | 124,297 | ||
TOTAL INVESTMENTS—95.8% (Identified Cost $125,063) | $124,297 | ||
Other assets and liabilities, net—4.2% | 5,399 | ||
NET ASSETS—100.0% | $129,696 |
Abbreviations: | |
ADR | American Depositary Receipt |
PJSC | Public Joint Stock Company |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(3) | Amount is less than $500. |
Country Weightings (Unaudited)† | |
China | 39% |
Taiwan | 15 |
India | 13 |
South Korea | 9 |
Brazil | 8 |
Cayman Islands | 3 |
South Africa | 3 |
Other | 10 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | Level 3 Significant Unobservable Inputs | |||
Assets: | |||||
Equity Securities: | |||||
Common Stocks | $124,297 | $124,296 | $1 (1) | ||
Total Investments | $124,297 | $124,296 | $1 |
(1) | Includes internally fair valued securities currently priced at zero ($0). |
Shares | Value | ||
Common Stocks—99.3% | |||
Automobiles—5.2% | |||
Tesla, Inc.(1) | 70,480 | $ 47,463 | |
Beverages—0.7% | |||
Monster Beverage Corp.(1) | 73,845 | 6,845 | |
Biotechnology—1.5% | |||
Horizon Therapeutics plc(1) | 177,720 | 14,175 | |
Capital Markets—1.9% | |||
Morgan Stanley | 229,865 | 17,484 | |
Electrical Equipment—1.2% | |||
Plug Power, Inc.(1) | 683,720 | 11,329 | |
Entertainment—1.0% | |||
Walt Disney Co. (The)(1) | 92,560 | 8,738 | |
Healthcare Equipment & Supplies—1.6% | |||
Cooper Cos., Inc. (The) | 45,315 | 14,189 | |
Healthcare Providers & Services—2.7% | |||
UnitedHealth Group, Inc. | 47,815 | 24,559 | |
Hotels, Restaurants & Leisure—3.6% | |||
Airbnb, Inc. Class A(1) | 105,610 | 9,408 | |
Caesars Entertainment, Inc.(1) | 206,045 | 7,891 | |
Chipotle Mexican Grill, Inc. Class A(1) | 11,800 | 15,426 | |
32,725 | |||
Interactive Media & Services—10.3% | |||
Alphabet, Inc. Class A(1) | 28,445 | 61,989 | |
Meta Platforms, Inc. Class A(1) | 141,735 | 22,855 | |
ZoomInfo Technologies, Inc. Class A(1) | 260,700 | 8,666 | |
93,510 | |||
Internet & Direct Marketing Retail—6.2% | |||
Amazon.com, Inc.(1) | 534,040 | 56,720 |
Shares | Value | ||
IT Services—7.1% | |||
EPAM Systems, Inc.(1) | 52,325 | $ 15,424 | |
Mastercard, Inc. Class A | 155,240 | 48,975 | |
64,399 | |||
Life Sciences Tools & Services—1.7% | |||
Avantor, Inc.(1) | 495,780 | 15,419 | |
Machinery—2.3% | |||
Deere & Co. | 70,890 | 21,229 | |
Multiline Retail—2.4% | |||
Dollar General Corp. | 88,620 | 21,751 | |
Oil, Gas & Consumable Fuels—1.1% | |||
Cheniere Energy, Inc. | 72,650 | 9,665 | |
Personal Products—1.7% | |||
Estee Lauder Cos., Inc. (The) Class A | 59,560 | 15,168 | |
Pharmaceuticals—7.6% | |||
AstraZeneca plc Sponsored ADR | 308,700 | 20,396 | |
Eli Lilly & Co. | 92,345 | 29,941 | |
Zoetis, Inc. Class A | 112,485 | 19,335 | |
69,672 | |||
Road & Rail—1.6% | |||
Union Pacific Corp. | 69,380 | 14,797 | |
Semiconductors & Semiconductor Equipment—6.2% | |||
Lam Research Corp. | 42,545 | 18,131 | |
Microchip Technology, Inc. | 245,445 | 14,255 | |
NVIDIA Corp. | 156,870 | 23,780 | |
56,166 | |||
Software—15.8% | |||
Crowdstrike Holdings, Inc. Class A(1) | 107,560 | 18,130 | |
Microsoft Corp. | 438,215 | 112,547 | |
Palo Alto Networks, Inc.(1) | 26,825 | 13,250 | |
143,927 | |||
Shares | Value | ||
Technology Hardware, Storage & Peripherals—13.8% | |||
Apple, Inc. | 919,030 | $ 125,650 | |
Textiles, Apparel & Luxury Goods—2.1% | |||
NIKE, Inc. Class B | 183,490 | 18,753 | |
Total Common Stocks (Identified Cost $573,067) | 904,333 | ||
Total Long-Term Investments—99.3% (Identified Cost $573,067) | 904,333 | ||
Short-Term Investment—0.4% | |||
Money Market Mutual Fund—0.4% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 3,318,424 | 3,318 | |
Total Short-Term Investment (Identified Cost $3,318) | 3,318 | ||
TOTAL INVESTMENTS—99.7% (Identified Cost $576,385) | $907,651 | ||
Other assets and liabilities, net—0.3% | 3,024 | ||
NET ASSETS—100.0% | $910,675 |
Abbreviation: | |
ADR | American Depositary Receipt |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $904,333 | $904,333 | |
Money Market Mutual Fund | 3,318 | 3,318 | |
Total Investments | $907,651 | $907,651 |
Shares | Value | ||
Preferred Stock—0.4% | |||
Germany—0.4% | |||
Jungheinrich AG, 1.690% | 10,670 | $ 233 | |
Total Preferred Stock (Identified Cost $257) | 233 | ||
Common Stocks—96.6% | |||
Australia—1.6% | |||
ALS Ltd. | 30,069 | 222 | |
IGO Ltd. | 5,407 | 37 | |
Incitec Pivot Ltd. | 15,992 | 36 | |
oOh!media Ltd. | 158,952 | 133 | |
Pro Medicus Ltd. | 5,597 | 163 | |
Star Entertainment Group Ltd. (The)(1) | 30,353 | 58 | |
Viva Energy Group Ltd. | 71,021 | 142 | |
Worley Ltd. | 19,900 | 196 | |
987 | |||
Austria—0.5% | |||
Wienerberger AG | 13,698 | 294 | |
Bermuda—0.2% | |||
Pacific Basin Shipping Ltd. | 379,000 | 145 | |
Cayman Islands—0.6% | |||
Alchip Technologies Ltd. | 16,000 | 373 | |
China—0.2% | |||
Chervon Holdings Ltd. | 9,400 | 53 | |
CIFI Holdings Group Co., Ltd. | 162,000 | 81 | |
134 | |||
Denmark—0.6% | |||
Ambu A/S Class B | 11,191 | 109 | |
SimCorp A/S | 3,631 | 263 | |
372 | |||
Finland—1.2% | |||
Huhtamaki Oyj | 10,591 | 420 | |
Kojamo Oyj | 18,967 | 327 | |
747 | |||
France—2.4% | |||
Elis S.A. | 21,962 | 292 | |
Nexity S.A. | 8,430 | 225 | |
SCOR SE | 11,528 | 248 | |
SOITEC (1) | 2,332 | 331 | |
SPIE S.A. | 16,712 | 363 | |
1,459 | |||
Germany—2.4% | |||
Bechtle AG | 6,933 | 283 | |
CANCOM SE | 7,589 | 255 | |
Deutsche Pfandbriefbank AG | 9,848 | 89 | |
Evotec SE(1) | 14,239 | 343 | |
Jenoptik AG | 10,275 | 229 |
Shares | Value | ||
Germany—continued | |||
Scout24 SE | 4,708 | $ 242 | |
1,441 | |||
Hong Kong—0.7% | |||
LK Technology Holdings Ltd. | 132,500 | 253 | |
VTech Holdings Ltd. | 24,900 | 196 | |
449 | |||
Indonesia—0.2% | |||
Mitra Adiperkasa Tbk PT(1) | 1,388,700 | 91 | |
Ireland—0.9% | |||
Dalata Hotel Group plc(1) | 92,732 | 338 | |
Grafton Group plc UTS | 20,498 | 194 | |
532 | |||
Italy—0.7% | |||
ERG SpA | 13,831 | 430 | |
Japan—11.3% | |||
Asahi Intecc Co., Ltd. | 14,900 | 225 | |
BayCurrent Consulting, Inc. | 300 | 80 | |
Cosmo Energy Holdings Co., Ltd. | 7,000 | 194 | |
Dai Nippon Printing Co., Ltd. | 17,800 | 384 | |
Ebara Corp. | 3,800 | 142 | |
Fuji Electric Co., Ltd. | 12,200 | 505 | |
Fujikura Ltd. | 24,100 | 137 | |
Hitachi Zosen Corp. | 23,100 | 145 | |
Isuzu Motors Ltd. | 26,200 | 290 | |
Jeol Ltd. | 4,900 | 189 | |
Marui Group Co., Ltd. | 6,800 | 119 | |
Mitsubishi HC Capital, Inc. | 70,200 | 324 | |
Mitsui Mining & Smelting Co., Ltd. | 6,800 | 159 | |
Nagoya Railroad Co., Ltd. | 20,700 | 319 | |
Nikon Corp. | 25,500 | 295 | |
Nippon Shinyaku Co., Ltd. | 5,900 | 359 | |
NOF Corp. | 5,300 | 196 | |
PALTAC Corp. | 4,200 | 130 | |
Shimamura Co., Ltd. | 3,900 | 342 | |
Ship Healthcare Holdings, Inc. | 17,800 | 317 | |
Snow Peak, Inc. | 6,900 | 138 | |
Sojitz Corp. | 29,540 | 418 | |
T&D Holdings, Inc. | 19,200 | 230 | |
TechMatrix Corp. | 28,000 | 346 | |
Tokyu Fudosan Holdings Corp. | 94,300 | 496 | |
Toyo Suisan Kaisha Ltd. | 2,000 | 78 | |
Toyoda Gosei Co. Ltd. | 9,200 | 145 | |
United Urban Investment Corp. | 197 | 207 | |
6,909 | |||
Luxembourg—0.3% | |||
Samsonite International S.A.(1) | 82,500 | 164 |
Shares | Value | ||
Marshall Islands—0.5% | |||
Dorian LPG Ltd. | 18,530 | $ 282 | |
Netherlands—0.7% | |||
ASR Nederland N.V. | 9,908 | 400 | |
Norway—0.7% | |||
Elkem ASA(1) | 45,545 | 145 | |
Storebrand ASA | 43,482 | 310 | |
455 | |||
Singapore—0.1% | |||
SATS Ltd.(1) | 26,800 | 75 | |
South Korea—0.6% | |||
Hyundai Marine & Fire Insurance Co. Ltd. | 4,467 | 106 | |
Jeju Air Co. Ltd.(1) | 2,637 | 33 | |
Koh Young Technology, Inc. | 22,310 | 242 | |
381 | |||
Sweden—1.6% | |||
AAK AB | 22,881 | 373 | |
BioGaia AB Class B | 35,790 | 362 | |
Elekta AB Class B | 38,386 | 265 | |
1,000 | |||
Switzerland—1.4% | |||
Bystronic AG | 315 | 229 | |
Georg Fischer AG Registered Shares | 6,020 | 296 | |
Interroll Holding AG Registered Shares | 107 | 240 | |
Zur Rose Group AG(1) | 1,606 | 121 | |
886 | |||
Taiwan—0.7% | |||
Kinsus Interconnect Technology Corp. | 14,000 | 67 | |
Unimicron Technology Corp. | 71,000 | 379 | |
446 | |||
Thailand—0.2% | |||
Hana Microelectronics PCL Foreign Shares | 109,900 | 127 | |
United Kingdom—7.0% | |||
Auto Trader Group plc | 51,651 | 349 | |
ConvaTec Group plc | 139,067 | 380 | |
Drax Group plc | 43,663 | 342 | |
Genus plc | 8,891 | 271 | |
HomeServe plc | 44,010 | 628 | |
Howden Joinery Group plc | 27,305 | 200 | |
Intermediate Capital Group plc | 14,431 | 230 | |
Keywords Studios plc | 11,710 | 313 | |
Moneysupermarket.com Group plc | 157,112 | 333 | |
Rotork plc | 70,548 | 207 |
Shares | Value | ||
United Kingdom—continued | |||
Spectris plc | 11,784 | $ 389 | |
Tate & Lyle plc | 38,419 | 350 | |
Weir Group plc (The) | 16,520 | 274 | |
4,266 | |||
United States—57.3% | |||
AGCO Corp. | 3,811 | 376 | |
Allegheny Technologies, Inc.(1) | 17,218 | 391 | |
American States Water Co. | 7,955 | 648 | |
API Group Corp.(1) | 38,065 | 570 | |
Axon Enterprise, Inc.(1) | 6,996 | 652 | |
BellRing Brands, Inc.(1) | 43,468 | 1,082 | |
BJ’s Wholesale Club Holdings, Inc.(1) | 13,135 | 819 | |
Camping World Holdings, Inc. Class A | 12,946 | 280 | |
Casella Waste Systems, Inc. Class A(1) | 12,296 | 894 | |
ChampionX Corp. | 19,159 | 380 | |
Chart Industries, Inc.(1) | 5,919 | 991 | |
Civitas Resources, Inc. | 8,758 | 458 | |
Clean Harbors, Inc.(1) | 10,853 | 951 | |
Coca-Cola Consolidated, Inc. | 1,222 | 689 | |
Coty, Inc. Class A(1) | 89,072 | 713 | |
Curtiss-Wright Corp. | 3,196 | 422 | |
Dolby Laboratories, Inc. Class A | 5,378 | 385 | |
First Industrial Realty Trust, Inc. | 13,536 | 643 | |
Genco Shipping & Trading Ltd. | 16,068 | 310 | |
Graphic Packaging Holding Co. | 50,577 | 1,037 | |
Grocery Outlet Holding Corp.(1) | 20,425 | 871 | |
Hawaiian Electric Industries, Inc. | 17,866 | 731 | |
Hyatt Hotels Corp. Class A(1) | 10,312 | 762 | |
ICF International, Inc. | 11,344 | 1,078 | |
II-VI, Inc.(1) | 4,752 | 242 | |
Intellia Therapeutics, Inc.(1) | 3,132 | 162 | |
ITT, Inc. | 3,195 | 215 | |
Keros Therapeutics, Inc.(1) | 3,249 | 90 | |
Kilroy Realty Corp. | 13,394 | 701 | |
Legend Biotech Corp. ADR(1) | 3,434 | 189 | |
LendingClub Corp.(1) | 12,076 | 141 | |
Lindblad Expeditions Holdings, Inc.(1) | 36,501 | 296 | |
LPL Financial Holdings, Inc. | 2,218 | 409 | |
Materion Corp. | 10,865 | 801 |
Shares | Value | ||
United States—continued | |||
MaxLinear, Inc.(1) | 10,441 | $ 355 | |
MP Materials Corp.(1) | 17,363 | 557 | |
New Relic, Inc.(1) | 11,434 | 572 | |
Northern Oil and Gas, Inc. | 21,703 | 548 | |
Oasis Petroleum, Inc. | 1,498 | 182 | |
OGE Energy Corp. | 12,816 | 494 | |
ONE Gas, Inc. | 5,716 | 464 | |
Owens & Minor, Inc. | 21,293 | 670 | |
Paylocity Holding Corp.(1) | 1,533 | 267 | |
PDC Energy, Inc. | 8,165 | 503 | |
Pebblebrook Hotel Trust | 18,471 | 306 | |
Perficient, Inc.(1) | 9,415 | 863 | |
Pinnacle Financial Partners, Inc. | 9,307 | 673 | |
Planet Fitness, Inc. Class A(1) | 12,333 | 839 | |
Popular, Inc. | 7,816 | 601 | |
RH (1) | 2,222 | 472 | |
Royal Gold, Inc. | 2,632 | 281 | |
Saia, Inc.(1) | 1,401 | 263 | |
SM Energy Co. | 5,745 | 196 | |
STAAR Surgical Co.(1) | 1,879 | 133 | |
SunPower Corp.(1) | 20,490 | 324 | |
Switch, Inc. Class A | 31,666 | 1,061 | |
Syneos Health, Inc. Class A(1) | 4,908 | 352 | |
Tandem Diabetes Care, Inc.(1) | 2,861 | 169 | |
Tenet Healthcare Corp.(1) | 10,403 | 547 | |
Terreno Realty Corp. | 12,689 | 707 | |
Unitil Corp. | 9,665 | 568 | |
Varonis Systems, Inc.(1) | 19,650 | 576 | |
Western Alliance Bancorp | 5,372 | 379 | |
WideOpenWest, Inc.(1) | 55,236 | 1,006 | |
Wintrust Financial Corp. | 9,344 | 749 | |
35,056 | |||
Virgin Islands (British)—2.0% | |||
Biohaven Pharmaceutical Holding Co. Ltd.(1) | 2,356 | 343 | |
Capri Holdings Ltd.(1) | 15,808 | 648 | |
Establishment Labs Holdings, Inc.(1) | 4,512 | 246 | |
1,237 | |||
Total Common Stocks (Identified Cost $61,803) | 59,138 | ||
Total Long-Term Investments—97.0% (Identified Cost $62,060) | 59,371 | ||
Shares | Value | ||
Short-Term Investment—2.5% | |||
Money Market Mutual Fund—2.5% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 1,511,636 | $ 1,512 | |
Total Short-Term Investment (Identified Cost $1,512) | 1,512 | ||
TOTAL INVESTMENTS—99.5% (Identified Cost $63,572) | $60,883 | ||
Other assets and liabilities, net—0.5% | 323 | ||
NET ASSETS—100.0% | $61,206 |
Abbreviations: | |
ADR | American Depositary Receipt |
UTS | Unit Trust Shares |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 60% |
Japan | 11 |
United Kingdom | 7 |
Germany | 3 |
France | 2 |
Virgin Islands (British) | 2 |
Sweden | 2 |
Other | 13 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $59,138 | $59,138 | |
Preferred Stock | 233 | 233 | |
Money Market Mutual Fund | 1,512 | 1,512 | |
Total Investments | $60,883 | $60,883 |
Shares | Value | ||
Common Stocks—99.7% | |||
Biotechnology—13.8% | |||
AbbVie, Inc. | 42,095 | $ 6,447 | |
Alnylam Pharmaceuticals, Inc.(1) | 1,365 | 199 | |
Amgen, Inc. | 22,280 | 5,421 | |
Argenx SE ADR(1) | 3,595 | 1,362 | |
Cytokinetics, Inc.(1) | 13,740 | 540 | |
Deciphera Pharmaceuticals, Inc.(1) | 1 | — (2) | |
Horizon Therapeutics plc(1) | 52,140 | 4,159 | |
Insmed, Inc.(1) | 23,445 | 462 | |
Moderna, Inc.(1) | 7,295 | 1,042 | |
Neurocrine Biosciences, Inc.(1) | 9,160 | 893 | |
Protagonist Therapeutics, Inc.(1) | 12,395 | 98 | |
Seagen, Inc.(1) | 3,555 | 629 | |
Vertex Pharmaceuticals, Inc.(1) | 12,170 | 3,430 | |
24,682 | |||
Healthcare Equipment & Supplies—10.7% | |||
Axonics, Inc.(1) | 15,085 | 855 | |
Boston Scientific Corp.(1) | 79,335 | 2,957 | |
Cooper Cos., Inc. (The) | 9,810 | 3,072 | |
Dexcom, Inc.(1) | 34,780 | 2,592 | |
Envista Holdings Corp.(1) | 61,830 | 2,383 | |
Establishment Labs Holdings, Inc.(1) | 17,695 | 962 | |
IDEXX Laboratories, Inc.(1) | 4,230 | 1,484 | |
LivaNova plc(1) | 18,205 | 1,137 | |
Novocure Ltd.(1) | 5,890 | 409 | |
Quotient Ltd.(1) | 494,789 | 119 | |
Teleflex, Inc. | 12,310 | 3,026 | |
18,996 | |||
Healthcare Providers & Services—20.5% | |||
Cano Health, Inc.(1) | 171,165 | 750 | |
Centene Corp.(1) | 49,370 | 4,177 | |
Cigna Corp. | 16,845 | 4,439 | |
CVS Health Corp. | 76,115 | 7,053 | |
Humana, Inc. | 13,425 | 6,284 | |
McKesson Corp. | 6,650 | 2,169 |
Shares | Value | ||
Healthcare Providers & Services—continued | |||
Owens & Minor, Inc. | 28,590 | $ 899 | |
Privia Health Group, Inc.(1) | 29,330 | 854 | |
Tenet Healthcare Corp.(1) | 61,175 | 3,216 | |
UnitedHealth Group, Inc. | 12,961 | 6,657 | |
36,498 | |||
Life Sciences Tools & Services—9.4% | |||
Avantor, Inc.(1) | 183,100 | 5,694 | |
ICON plc ADR(1) | 6,330 | 1,372 | |
IQVIA Holdings, Inc.(1) | 11,100 | 2,409 | |
Thermo Fisher Scientific, Inc. | 13,320 | 7,236 | |
16,711 | |||
Personal Products—0.5% | |||
Beauty Health Co. (The)(1) | 75,680 | 973 | |
Pharmaceuticals—44.8% | |||
Alpha Teknova, Inc.(1) | 52,777 | 443 | |
AstraZeneca plc Sponsored ADR | 172,025 | 11,366 | |
Bristol-Myers Squibb Co. | 96,365 | 7,420 | |
Catalent, Inc.(1) | 30,915 | 3,317 | |
Eli Lilly & Co. | 29,550 | 9,581 | |
GSK plc Sponsored ADR | 116,920 | 5,090 | |
Johnson & Johnson | 6,565 | 1,165 | |
Merck & Co., Inc. | 98,405 | 8,972 | |
Novartis AG Sponsored ADR | 29,438 | 2,488 | |
Novo Nordisk A.S. Sponsored ADR | 42,855 | 4,775 | |
Pfizer, Inc. | 208,059 | 10,909 | |
Roche Holding AG Sponsored ADR | 120,245 | 5,015 | |
Sanofi ADR | 91,735 | 4,589 | |
Zoetis, Inc. Class A | 27,220 | 4,679 | |
79,809 | |||
Total Common Stocks (Identified Cost $173,290) | 177,669 | ||
Total Long-Term Investments—99.7% (Identified Cost $173,290) | 177,669 | ||
Shares | Value | ||
Short-Term Investment—0.3% | |||
Money Market Mutual Fund—0.3% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(3) | 555,011 | $ 555 | |
Total Short-Term Investment (Identified Cost $555) | 555 | ||
TOTAL INVESTMENTS—100.0% (Identified Cost $173,845) | $178,224 | ||
Other assets and liabilities, net—0.0% | 50 | ||
NET ASSETS—100.0% | $178,274 |
Abbreviation: | |
ADR | American Depositary Receipt |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Amount is less than $500. |
(3) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 76% |
United Kingdom | 10 |
Switzerland | 4 |
Ireland | 3 |
Denmark | 3 |
France | 3 |
Netherlands | 1 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $177,669 | $177,669 | |
Money Market Mutual Fund | 555 | 555 | |
Total Investments | $178,224 | $178,224 |
Par Value | Value | ||
Corporate Bonds and Notes—33.4% | |||
Advertising—0.2% | |||
Clear Channel Outdoor Holdings, Inc. | |||
144A 7.750%, 4/15/28(1) | $ 5,410 | $ 3,936 | |
144A 7.500%, 6/1/29(1) | 7,810 | 5,616 | |
9,552 | |||
Aerospace & Defense—0.2% | |||
Triumph Group, Inc. | |||
144A 8.875%, 6/1/24(1) | 6,996 | 7,048 | |
144A 6.250%, 9/15/24(1) | 7,135 | 6,363 | |
13,411 | |||
Airlines—0.5% | |||
American Airlines, Inc. | |||
144A 11.750%, 7/15/25(1) | 3,875 | 4,010 | |
144A 5.750%, 4/20/29(1) | 14,125 | 12,059 | |
Delta Air Lines, Inc. 7.375%, 1/15/26 | 11,915 | 11,897 | |
27,966 | |||
Auto Components—0.9% | |||
American Axle & Manufacturing, Inc. | |||
6.500%, 4/1/27 | 6,070 | 5,372 | |
5.000%, 10/1/29 | 7,700 | 6,255 | |
Clarios Global LP 144A 8.500%, 5/15/27(1) | 12,195 | 11,786 | |
Goodyear Tire & Rubber Co. (The) | |||
9.500%, 5/31/25 | 4,260 | 4,405 | |
5.250%, 7/15/31 | 21,515 | 17,293 | |
Tenneco, Inc. 144A 7.875%, 1/15/29(1) | 5,180 | 5,006 | |
50,117 | |||
Auto Manufacturers—0.7% | |||
Ford Motor Co. | |||
9.000%, 4/22/25 | 12,345 | 13,238 | |
9.625%, 4/22/30 | 2,075 | 2,314 | |
7.450%, 7/16/31 | 9,690 | 9,832 | |
Ford Motor Credit Co. LLC | |||
5.113%, 5/3/29 | 2,245 | 2,013 | |
4.000%, 11/13/30 | 14,895 | 12,069 | |
39,466 | |||
Building Materials—0.8% | |||
Builders FirstSource, Inc. | |||
144A 4.250%, 2/1/32(1) | 10,405 | 7,920 |
Par Value | Value | ||
Building Materials—continued | |||
144A 6.375%, 6/15/32(1) | $ 8,065 | $ 7,198 | |
Griffon Corp. 5.750%, 3/1/28 | 6,925 | 6,286 | |
Koppers, Inc. 144A 6.000%, 2/15/25(1) | 10,200 | 9,472 | |
Summit Materials LLC 144A 5.250%, 1/15/29(1) | 12,470 | 10,880 | |
41,756 | |||
Chemicals—0.6% | |||
Chemours Co. (The) | |||
144A 5.750%, 11/15/28(1) | 6,355 | 5,416 | |
144A 4.625%, 11/15/29(1) | 13,120 | 10,319 | |
Tronox, Inc. 144A 4.625%, 3/15/29(1) | 10,895 | 8,761 | |
WR Grace Holdings LLC 144A 5.625%, 8/15/29(1) | 11,740 | 8,643 | |
33,139 | |||
Commercial Services—1.4% | |||
ADT Security Corp. (The) 144A 4.125%, 8/1/29(1) | 15,625 | 12,681 | |
Avis Budget Car Rental LLC | |||
144A 5.750%, 7/15/27(1) | 8,575 | 7,679 | |
144A 5.375%, 3/1/29(1) | 5,680 | 4,725 | |
Deluxe Corp. 144A 8.000%, 6/1/29(1) | 5,540 | 4,515 | |
Herc Holdings, Inc. 144A 5.500%, 7/15/27(1) | 10,975 | 10,019 | |
Hertz Corp. (The) 144A 5.000%, 12/1/29(1) | 12,405 | 9,552 | |
Monitronics International 9.125%, 4/1/20(2) | 6,450 | — | |
NESCO Holdings II, Inc. 144A 5.500%, 4/15/29(1) | 12,150 | 10,176 | |
RR Donnelley & Sons Co. 6.000%, 4/1/24 | 3,195 | 3,147 | |
United Rentals North America, Inc. 5.250%, 1/15/30 | 13,445 | 12,470 | |
74,964 | |||
Computers—0.4% | |||
Condor Merger Sub, Inc. 144A 7.375%, 2/15/30(1) | 11,960 | 9,721 |
Par Value | Value | ||
Computers—continued | |||
NCR Corp. | |||
144A 5.125%, 4/15/29(1) | $ 6,240 | $ 5,277 | |
144A 6.125%, 9/1/29(1) | 5,440 | 4,705 | |
Western Digital Corp. 4.750%, 2/15/26 | 4,900 | 4,675 | |
24,378 | |||
Containers & Packaging—0.8% | |||
Berry Global, Inc. 144A 5.625%, 7/15/27(1) | 13,090 | 12,526 | |
Owens-Brockway Glass Container, Inc. 144A 6.625%, 5/13/27(1) | 17,035 | 15,899 | |
Sealed Air Corp. 144A 5.000%, 4/15/29(1) | 2,300 | 2,151 | |
Trivium Packaging Finance B.V. 144A 8.500%, 8/15/27(1) | 12,770 | 11,973 | |
42,549 | |||
Cosmetics & Personal Care—0.3% | |||
Coty, Inc. 144A 6.500%, 4/15/26(1) | 10,885 | 10,035 | |
Edgewell Personal Care Co. 144A 5.500%, 6/1/28(1) | 6,105 | 5,555 | |
15,590 | |||
Diversified Financial Services—1.2% | |||
Nationstar Mortgage Holdings, Inc. | |||
144A 5.500%, 8/15/28(1) | 13,230 | 10,612 | |
144A 5.750%, 11/15/31(1) | 6,870 | 5,260 | |
Navient Corp. | |||
6.750%, 6/15/26 | 10,725 | 9,492 | |
5.000%, 3/15/27 | 12,315 | 10,129 | |
4.875%, 3/15/28 | 7,065 | 5,520 | |
OneMain Finance Corp. | |||
8.250%, 10/1/23 | 8,730 | 8,725 | |
6.625%, 1/15/28 | 12,965 | 11,588 | |
5.375%, 11/15/29 | 7,480 | 6,061 | |
67,387 | |||
Electronic Equipment, Instruments & Components—0.3% | |||
Energizer Holdings, Inc. 144A 6.500%, 12/31/27(1) | 1,695 | 1,485 | |
WESCO Distribution, Inc. 144A 7.250%, 6/15/28(1) | 13,985 | 13,831 | |
15,316 | |||
Par Value | Value | ||
Electronics—0.2% | |||
II-VI, Inc. 144A 5.000%, 12/15/29(1) | $ 11,315 | $ 9,872 | |
Engineering & Construction—0.1% | |||
AECOM 5.125%, 3/15/27 | 4,625 | 4,371 | |
Entertainment—1.9% | |||
AMC Entertainment Holdings, Inc. 144A 7.500%, 2/15/29(1) | 3,600 | 3,042 | |
Caesars Entertainment, Inc. | |||
144A 6.250%, 7/1/25(1) | 8,060 | 7,768 | |
144A 8.125%, 7/1/27(1) | 15,400 | 14,880 | |
144A 4.625%, 10/15/29(1) | 8,665 | 6,737 | |
CDI Escrow Issuer, Inc. 144A 5.750%, 4/1/30(1) | 11,345 | 10,324 | |
Cedar Fair LP 5.375%, 4/15/27 | 11,680 | 11,069 | |
International Game Technology plc | |||
144A 4.125%, 4/15/26(1) | 4,495 | 4,068 | |
144A 6.250%, 1/15/27(1) | 9,850 | 9,580 | |
Lions Gate Capital Holdings LLC 144A 5.500%, 4/15/29(1) | 10,975 | 8,560 | |
Live Nation Entertainment, Inc. 144A 4.750%, 10/15/27(1) | 14,410 | 12,775 | |
Scientific Games International, Inc. 144A 8.625%, 7/1/25(1) | 2,750 | 2,819 | |
SeaWorld Parks & Entertainment, Inc. 144A 5.250%, 8/15/29(1) | 15,825 | 13,391 | |
105,013 | |||
Environmental Services—0.2% | |||
GFL Environmental, Inc. 144A 4.750%, 6/15/29(1) | 15,000 | 12,412 | |
Equity Real Estate Investment Trusts (REITs)—1.3% | |||
Brookfield Property REIT, Inc. 144A 4.500%, 4/1/27(1) | 9,205 | 7,633 | |
Iron Mountain Information Management Services, Inc. 144A 5.000%, 7/15/32(1) | 7,535 | 6,082 |
Par Value | Value | ||
Equity Real Estate Investment Trusts (REITs)—continued | |||
Iron Mountain, Inc. | |||
144A 5.250%, 3/15/28(1) | $ 4,125 | $ 3,703 | |
144A 5.250%, 7/15/30(1) | 18,050 | 15,693 | |
Park Intermediate Holdings LLC | |||
144A 5.875%, 10/1/28(1) | 8,830 | 8,059 | |
144A 4.875%, 5/15/29(1) | 9,060 | 7,779 | |
SBA Communications Corp. 3.125%, 2/1/29 | 11,135 | 9,114 | |
Service Properties Trust | |||
4.500%, 3/15/25 | 5,185 | 4,096 | |
7.500%, 9/15/25 | 5,355 | 4,907 | |
4.375%, 2/15/30 | 5,355 | 3,574 | |
70,640 | |||
Food & Beverage—1.1% | |||
Albertsons Cos., Inc. 144A 4.875%, 2/15/30(1) | 6,755 | 5,795 | |
Kraft Heinz Foods Co. 5.000%, 7/15/35 | 8,175 | 7,914 | |
Performance Food Group, Inc. | |||
144A 5.500%, 10/15/27(1) | 7,630 | 7,063 | |
144A 4.250%, 8/1/29(1) | 10,125 | 8,454 | |
Post Holdings, Inc. | |||
144A 5.500%, 12/15/29(1) | 3,110 | 2,780 | |
144A 4.500%, 9/15/31(1) | 9,420 | 7,704 | |
Simmons Foods, Inc. 144A 4.625%, 3/1/29(1) | 10,435 | 8,822 | |
US Foods, Inc. | |||
144A 6.250%, 4/15/25(1) | 9,325 | 9,302 | |
144A 4.750%, 2/15/29(1) | 5,350 | 4,677 | |
62,511 | |||
Food Service—0.2% | |||
Aramark Services, Inc. 144A 5.000%, 2/1/28(1) | 11,590 | 10,503 | |
Healthcare-Products—0.3% | |||
Medline Borrower LP 144A 5.250%, 10/1/29(1) | 16,520 | 13,568 | |
Healthcare-Services—1.7% | |||
Centene Corp. 4.625%, 12/15/29 | 17,275 | 16,109 |
Par Value | Value | ||
Healthcare-Services—continued | |||
Community Health Systems, Inc. | |||
144A 5.625%, 3/15/27(1) | $ 6,495 | $ 5,497 | |
144A 6.000%, 1/15/29(1) | 7,305 | 6,052 | |
144A 6.875%, 4/15/29(1) | 9,715 | 6,266 | |
144A 5.250%, 5/15/30(1) | 4,530 | 3,442 | |
HCA, Inc. 5.875%, 2/1/29 | 9,335 | 9,342 | |
Select Medical Corp. 144A 6.250%, 8/15/26(1) | 10,520 | 9,820 | |
Tenet Healthcare Corp. | |||
144A 6.125%, 10/1/28(1) | 34,410 | 29,448 | |
144A 6.125%, 6/15/30(1) | 5,180 | 4,779 | |
90,755 | |||
Home Builders—0.3% | |||
Picasso Finance Sub, Inc. 144A 6.125%, 6/15/25(1) | 10,303 | 10,045 | |
Taylor Morrison Communities, Inc. 144A 5.750%, 1/15/28(1) | 7,925 | 7,111 | |
17,156 | |||
Household Products/Wares—0.1% | |||
Spectrum Brands, Inc. 144A 3.875%, 3/15/31(1) | 8,430 | 6,793 | |
Internet—0.6% | |||
Match Group Holdings II LLC 144A 5.000%, 12/15/27(1) | 9,260 | 8,584 | |
Uber Technologies, Inc. | |||
144A 8.000%, 11/1/26(1) | 4,925 | 4,903 | |
144A 7.500%, 9/15/27(1) | 13,190 | 12,778 | |
144A 6.250%, 1/15/28(1) | 7,410 | 6,853 | |
33,118 | |||
Investment Companies—0.3% | |||
Compass Group Diversified Holdings LLC | |||
144A 5.250%, 4/15/29(1) | 14,195 | 11,711 |
Par Value | Value | ||
Investment Companies—continued | |||
144A 5.000%, 1/15/32(1) | $ 3,650 | $ 2,818 | |
14,529 | |||
Iron & Steel—0.2% | |||
Cleveland-Cliffs, Inc. 144A 6.750%, 3/15/26(1) | 4,870 | 4,834 | |
United States Steel Corp. 6.875%, 3/1/29 | 7,210 | 6,291 | |
11,125 | |||
Leisure Time—0.9% | |||
Carnival Corp. | |||
144A 10.500%, 2/1/26(1) | 7,405 | 7,371 | |
144A 5.750%, 3/1/27(1) | 8,455 | 6,107 | |
144A 6.000%, 5/1/29(1) | 10,775 | 7,571 | |
NCL Corp., Ltd. | |||
144A 5.875%, 3/15/26(1) | 12,550 | 9,850 | |
144A 7.750%, 2/15/29(1) | 2,555 | 1,955 | |
Royal Caribbean Cruises Ltd. | |||
144A 11.500%, 6/1/25(1) | 4,945 | 5,081 | |
144A 5.375%, 7/15/27(1) | 11,590 | 8,424 | |
144A 5.500%, 4/1/28(1) | 6,100 | 4,240 | |
50,599 | |||
Lodging—1.0% | |||
Boyd Gaming Corp. 144A 4.750%, 6/15/31(1) | 6,045 | 5,108 | |
Hilton Domestic Operating Co., Inc. | |||
4.875%, 1/15/30 | 3,000 | 2,711 | |
144A 4.000%, 5/1/31(1) | 17,890 | 14,867 | |
Hilton Grand Vacations Borrower Escrow LLC 144A 5.000%, 6/1/29(1) | 8,230 | 6,666 | |
MGM Resorts International | |||
5.500%, 4/15/27 | 5,050 | 4,533 | |
4.750%, 10/15/28 | 13,640 | 11,471 |
Par Value | Value | ||
Lodging—continued | |||
Wynn Las Vegas LLC 144A 5.500%, 3/1/25(1) | $ 11,020 | $ 10,083 | |
55,439 | |||
Machinery-Construction & Mining—0.1% | |||
Terex Corp. 144A 5.000%, 5/15/29(1) | 7,100 | 6,035 | |
Media—4.0% | |||
CCO Holdings LLC | |||
4.500%, 5/1/32 | 6,375 | 5,162 | |
144A 5.125%, 5/1/27(1) | 21,635 | 20,418 | |
144A 5.375%, 6/1/29(1) | 15,445 | 13,805 | |
144A 4.750%, 2/1/32(1) | 4,155 | 3,402 | |
CSC Holdings LLC 144A 7.500%, 4/1/28(1) | 24,490 | 20,449 | |
DirecTV Financing LLC 144A 5.875%, 8/15/27(1) | 15,910 | 13,572 | |
DISH DBS Corp. | |||
7.375%, 7/1/28 | 23,135 | 15,737 | |
144A 5.750%, 12/1/28(1) | 9,505 | 7,038 | |
Gray Escrow II, Inc. 144A 5.375%, 11/15/31(1) | 14,095 | 11,293 | |
Gray Television, Inc. | |||
144A 7.000%, 5/15/27(1) | 7,695 | 7,407 | |
144A 4.750%, 10/15/30(1) | 2,325 | 1,819 | |
iHeartCommunications, Inc. 8.375%, 5/1/27 | 11,905 | 9,461 | |
Nexstar Media, Inc. | |||
144A 5.625%, 7/15/27(1) | 13,405 | 12,232 | |
144A 4.750%, 11/1/28(1) | 5,800 | 4,974 | |
Scripps Escrow II, Inc. 144A 5.375%, 1/15/31(1) | 13,495 | 10,763 | |
Sirius XM Radio, Inc. | |||
144A 4.000%, 7/15/28(1) | 8,960 | 7,750 | |
144A 4.125%, 7/1/30(1) | 9,665 | 8,072 | |
144A 3.875%, 9/1/31(1) | 9,950 | 7,923 | |
TEGNA, Inc. 5.000%, 9/15/29 | 10,150 | 9,600 | |
Virgin Media Finance plc 144A 5.000%, 7/15/30(1) | 8,345 | 6,614 |
Par Value | Value | ||
Media—continued | |||
Virgin Media Secured Finance plc | |||
144A 5.500%, 5/15/29(1) | $ 15,100 | $ 13,500 | |
144A 4.500%, 8/15/30(1) | 9,225 | 7,580 | |
218,571 | |||
Mining—0.3% | |||
FMG Resources August 2006 Pty Ltd. 144A 4.375%, 4/1/31(1) | 4,130 | 3,371 | |
Hudbay Minerals, Inc. | |||
144A 4.500%, 4/1/26(1) | 9,720 | 8,133 | |
144A 6.125%, 4/1/29(1) | 4,220 | 3,423 | |
14,927 | |||
Oil, Gas & Consumable Fuels—3.1% | |||
Antero Resources Corp. | |||
144A 7.625%, 2/1/29(1) | 8,334 | 8,478 | |
144A 5.375%, 3/1/30(1) | 7,740 | 7,057 | |
Callon Petroleum Co. | |||
144A 8.000%, 8/1/28(1) | 13,490 | 12,959 | |
144A 7.500%, 6/15/30(1) | 7,640 | 7,030 | |
CITGO Petroleum Corp. | |||
144A 7.000%, 6/15/25(1) | 4,195 | 4,059 | |
144A 6.375%, 6/15/26(1) | 11,385 | 10,510 | |
CNX Resources Corp. 144A 6.000%, 1/15/29(1) | 3,180 | 2,971 | |
Cobalt International Energy, Inc. 7.750%, 12/1/23(2)(3) | 9,216 | 133 | |
Comstock Resources, Inc. | |||
144A 6.750%, 3/1/29(1) | 10,695 | 9,577 | |
144A 5.875%, 1/15/30(1) | 6,595 | 5,672 | |
Mesquite Energy, Inc. 6.125%, 1/15/23(2)(3) | 6,240 | 47 | |
Occidental Petroleum Corp. | |||
5.875%, 9/1/25 | 9,390 | 9,349 | |
8.875%, 7/15/30 | 6,600 | 7,577 | |
6.625%, 9/1/30 | 13,785 | 14,199 | |
Range Resources Corp. 144A 4.750%, 2/15/30(1) | 9,875 | 8,856 |
Par Value | Value | ||
Oil, Gas & Consumable Fuels—continued | |||
SM Energy Co. | |||
6.625%, 1/15/27 | $ 7,980 | $ 7,461 | |
6.500%, 7/15/28 | 7,075 | 6,507 | |
Southwestern Energy Co. | |||
5.375%, 3/15/30 | 12,525 | 11,523 | |
4.750%, 2/1/32 | 4,720 | 4,033 | |
Sunoco LP | |||
5.875%, 3/15/28 | 6,830 | 6,227 | |
144A 4.500%, 4/30/30(1) | 6,635 | 5,357 | |
USA Compression Partners LP 6.875%, 9/1/27 | 12,545 | 11,134 | |
Weatherford International Ltd. | |||
144A 11.000%, 12/1/24(1) | 73 | 74 | |
144A 8.625%, 4/30/30(1) | 10,755 | 8,924 | |
169,714 | |||
Paper & Forest Products—0.2% | |||
Mercer International, Inc. 5.125%, 2/1/29 | 10,985 | 9,377 | |
Pharmaceuticals—1.3% | |||
Bausch Health Americas, Inc. 144A 8.500%, 1/31/27(1) | 32,710 | 22,938 | |
Bausch Health Cos., Inc. 144A 7.250%, 5/30/29(1) | 4,945 | 2,682 | |
Horizon Therapeutics USA, Inc. 144A 5.500%, 8/1/27(1) | 9,515 | 9,176 | |
Jazz Securities DAC 144A 4.375%, 1/15/29(1) | 17,325 | 15,411 | |
Organon & Co. 144A 5.125%, 4/30/31(1) | 16,695 | 14,405 | |
Prestige Brands, Inc. 144A 5.125%, 1/15/28(1) | 5,645 | 5,251 | |
69,863 | |||
Pipelines—1.2% | |||
Antero Midstream Partners LP 144A 5.375%, 6/15/29(1) | 9,185 | 8,226 | |
Crestwood Midstream Partners LP 144A 6.000%, 2/1/29(1) | 11,805 | 10,301 |
Par Value | Value | ||
Pipelines—continued | |||
EQM Midstream Partners LP | |||
144A 6.500%, 7/1/27(1) | $ 4,470 | $ 4,156 | |
144A 7.500%, 6/1/30(1) | 7,645 | 7,344 | |
Hess Midstream Operations LP 144A 5.500%, 10/15/30(1) | 3,250 | 2,917 | |
NGL Energy Operating LLC 144A 7.500%, 2/1/26(1) | 13,315 | 11,983 | |
NuStar Logistics LP 6.375%, 10/1/30 | 9,135 | 7,937 | |
Targa Resources Partners LP 6.875%, 1/15/29 | 10,670 | 10,889 | |
63,753 | |||
Real Estate—0.2% | |||
Kennedy-Wilson, Inc. 5.000%, 3/1/31 | 12,550 | 9,726 | |
Retail—1.1% | |||
Asbury Automotive Group, Inc. | |||
4.750%, 3/1/30 | 6,155 | 5,061 | |
144A 4.625%, 11/15/29(1) | 4,400 | 3,636 | |
144A 5.000%, 2/15/32(1) | 4,280 | 3,499 | |
Bath & Body Works, Inc. 144A 6.625%, 10/1/30(1) | 12,955 | 11,190 | |
Macy’s Retail Holdings LLC | |||
144A 5.875%, 3/15/30(1) | 4,925 | 4,132 | |
144A 6.125%, 3/15/32(1) | 4,955 | 4,137 | |
Mariposa Borrower, Inc. 8.000%, 10/15/21(2) | 6,810 | 1,982 | |
New Red Finance, Inc. 144A 4.000%, 10/15/30(1) | 16,820 | 13,498 | |
Yum! Brands, Inc. | |||
4.625%, 1/31/32 | 9,655 | 8,530 | |
5.375%, 4/1/32 | 6,680 | 6,163 | |
61,828 | |||
Semiconductors—0.3% | |||
Amkor Technology, Inc. 144A 6.625%, 9/15/27(1) | 11,210 | 10,612 |
Par Value | Value | ||
Semiconductors—continued | |||
Entegris Escrow Corp. 144A 5.950%, 6/15/30(1) | $ 7,535 | $ 7,169 | |
17,781 | |||
Software—0.5% | |||
Clarivate Science Holdings Corp. 144A 4.875%, 7/1/29(1) | 11,825 | 9,708 | |
Consensus Cloud Solutions, Inc. | |||
144A 6.000%, 10/15/26(1) | 3,065 | 2,637 | |
144A 6.500%, 10/15/28(1) | 6,765 | 5,582 | |
SS&C Technologies, Inc. 144A 5.500%, 9/30/27(1) | 10,580 | 9,867 | |
27,794 | |||
Telecommunications—2.1% | |||
CommScope Technologies LLC 144A 5.000%, 3/15/27(1) | 10,105 | 7,471 | |
Frontier Communications Holdings LLC | |||
144A 5.000%, 5/1/28(1) | 10,165 | 8,640 | |
144A 6.000%, 1/15/30(1) | 12,310 | 9,472 | |
144A 8.750%, 5/15/30(1) | 10,420 | 10,534 | |
GTT Communications, Inc. 144A 7.875%, 12/31/24(1)(3) | 10,045 | 754 | |
Hughes Satellite Systems Corp. 6.625%, 8/1/26 | 13,080 | 11,608 | |
Lumen Technologies, Inc. | |||
144A 5.125%, 12/15/26(1) | 9,205 | 7,749 | |
144A 5.375%, 6/15/29(1) | 23,075 | 18,270 | |
Sprint Corp. | |||
7.125%, 6/15/24 | 6,860 | 7,040 | |
7.625%, 3/1/26 | 8,595 | 9,056 | |
T-Mobile USA, Inc. | |||
4.750%, 2/1/28 | 6,250 | 6,058 | |
3.375%, 4/15/29 | 8,250 | 7,219 | |
3.500%, 4/15/31 | 14,160 | 12,226 |
Par Value | Value | ||
Telecommunications—continued | |||
Windstream Services LLC 144A 6.375%, 8/1/23(1)(2)(3) | $ 7,464 | $ — | |
116,097 | |||
Transportation—0.3% | |||
Fortress Transportation & Infrastructure Investors LLC | |||
144A 9.750%, 8/1/27(1) | 12,565 | 12,281 | |
144A 5.500%, 5/1/28(1) | 7,450 | 6,149 | |
18,430 | |||
Total Corporate Bonds and Notes (Identified Cost $2,169,456) | 1,827,891 | ||
Leveraged Loans—0.2% | |||
Healthcare-Products—0.1% | |||
R1 RCM, Inc. Tranche B (3 month LIBOR + 4.000%) 0.000%, 6/21/29 (4)(5) | 6,345 | 6,091 | |
Retail—0.1% | |||
Petco Health & Wellness Co., Inc. First Lien (3 month LIBOR + 3.250%) 5.500%, 3/3/28 (5) | 8,384 | 7,885 | |
Total Leveraged Loans (Identified Cost $14,671) | 13,976 | ||
Shares | ||
Convertible Preferred Stocks—6.5% | ||
Auto Components—0.3% | ||
Aptiv plc Series A, 5.500% | 174,000 | 18,338 |
Banks—1.2% | ||
Bank of America Corp. Series L, 7.250% | 21,900 | 26,378 |
Wells Fargo & Co. Series L, 7.500% | 30,470 | 37,037 |
63,415 | ||
Capital Markets—0.2% | ||
KKR & Co., Inc. Series C, 6.000% | 191,295 | 11,185 |
Commercial Services & Supplies—0.2% | ||
GFL Environmental, Inc., 6.000% | 158,175 | 9,397 |
Shares | Value | ||
Diversified Financial Services—0.1% | |||
Chewy, Inc. 2020 Mandatory Exchangeable Trust 144A, 6.500%(1) | 9,640 | $ 8,162 | |
Electric Utilities—1.2% | |||
NextEra Energy, Inc., 5.279% | 398,430 | 19,782 | |
NextEra Energy, Inc., 6.219% | 539,625 | 26,523 | |
Southern Co. (The), 6.750% | 384,505 | 20,371 | |
66,676 | |||
Electronic Components—0.1% | |||
II-VI, Inc. Series A, 6.000% | 23,240 | 5,000 | |
Healthcare Equipment & Supplies—0.5% | |||
Boston Scientific Corp. Series A, 5.500% | 244,910 | 24,844 | |
Life Sciences Tools & Services—0.9% | |||
Danaher Corp. Series B, 5.000% | 35,915 | 47,523 | |
Machinery—0.2% | |||
Stanley Black & Decker, Inc., 5.250% | 131,190 | 8,841 | |
Pharmaceuticals—0.1% | |||
Elanco Animal Health, Inc., 5.000% | 229,565 | 7,355 | |
Professional Services—0.1% | |||
Clarivate plc Series A, 5.250% | 140,520 | 8,040 | |
Semiconductors & Semiconductor Equipment—0.9% | |||
Broadcom, Inc. Series A, 8.000% | 33,380 | 50,175 | |
Telecommunications—0.5% | |||
T-Mobile US 2020 Cash Mandatory Exchangeable Trust 144A, 5.250%(1) | 24,530 | 28,126 | |
Total Convertible Preferred Stocks (Identified Cost $407,123) | 357,077 | ||
Preferred Stocks—0.1% | |||
Entertainment—0.1% | |||
LiveStyle, Inc. Series B (2)(6)(7)(8)(9) | 56,362 | 5,618 |
Shares | Value | ||
Entertainment—continued | |||
LiveStyle, Inc. Series B (2)(6)(7) | 8,000 | $ — | |
5,618 | |||
Total Preferred Stocks (Identified Cost $13,526) | 5,618 | ||
Common Stocks—31.1% | |||
Air Freight & Logistics—0.2% | |||
United Parcel Service, Inc. Class B | 69,825 | 12,746 | |
Automobiles—1.2% | |||
Tesla, Inc.(8) | 95,961 | 64,622 | |
Banks—1.3% | |||
CCF Holdings LLC Class M(2)(8) | 1,759,917 | 493 | |
CCF Holdings LLC(2)(8) | 7,416,755 | 2,077 | |
JPMorgan Chase & Co.(10) | 304,045 | 34,238 | |
Wells Fargo & Co. | 822,765 | 32,228 | |
69,036 | |||
Biotechnology—1.1% | |||
AbbVie, Inc.(10) | 251,562 | 38,529 | |
Horizon Therapeutics plc(8) | 107,220 | 8,552 | |
Vertex Pharmaceuticals, Inc.(8) | 46,710 | 13,163 | |
60,244 | |||
Capital Markets—0.9% | |||
Charles Schwab Corp. (The)(10) | 282,340 | 17,838 | |
CME Group, Inc. Class A | 112,455 | 23,019 | |
S&P Global, Inc.(10) | 30,780 | 10,375 | |
51,232 | |||
Chemicals—0.6% | |||
DuPont de Nemours, Inc. | 326,360 | 18,139 | |
Sherwin-Williams Co. (The)(10) | 63,625 | 14,246 | |
32,385 | |||
Commercial Services & Supplies—0.6% | |||
CENVEO Corp.(2)(9) | 19,074 | 273 | |
Waste Management, Inc. | 213,715 | 32,694 | |
32,967 | |||
Communications Equipment—0.3% | |||
Cisco Systems, Inc. | 398,715 | 17,001 | |
Consumer Finance—0.0% | |||
Erickson, Inc.(2)(8) | 10,866 | 217 |
Shares | Value | ||
Electric Utilities—0.7% | |||
Exelon Corp. | 835,215 | $ 37,852 | |
Electrical Equipment—0.2% | |||
Generac Holdings, Inc.(8) | 49,720 | 10,470 | |
Energy Equipment & Services—0.6% | |||
Schlumberger N.V. | 995,875 | 35,613 | |
Entertainment—0.0% | |||
LiveStyle, Inc. (2)(6)(7)(8)(9) | 202,319 | — (11) | |
Equity Real Estate Investment—0.5% | |||
American Tower Corp.(10) | 113,300 | 28,958 | |
Food & Staples Retailing—0.7% | |||
Costco Wholesale Corp. | 79,960 | 38,323 | |
Healthcare Equipment & Supplies—0.9% | |||
Abbott Laboratories(10) | 181,305 | 19,699 | |
Dexcom, Inc.(8) | 124,340 | 9,267 | |
Intuitive Surgical, Inc.(8) | 94,645 | 18,996 | |
47,962 | |||
Healthcare Providers & Services—1.3% | |||
McKesson Corp. | 68,390 | 22,310 | |
UnitedHealth Group, Inc.(10) | 91,041 | 46,761 | |
69,071 | |||
Hotels, Restaurants & Leisure—1.1% | |||
Booking Holdings, Inc.(8)(10) | 15,360 | 26,865 | |
Chipotle Mexican Grill, Inc. Class A(8) | 14,660 | 19,164 | |
MGM Resorts International | 417,555 | 12,088 | |
58,117 | |||
Insurance—0.4% | |||
Aon plc Class A(10) | 76,255 | 20,564 | |
Interactive Media & Services—2.2% | |||
Alphabet, Inc. Class A(8)(10) | 43,545 | 94,896 | |
Meta Platforms, Inc. Class A(8) | 147,785 | 23,830 | |
118,726 | |||
Internet & Direct Marketing Retail—0.9% | |||
Amazon.com, Inc.(8)(10) | 479,200 | 50,896 | |
IT Services—2.0% | |||
Accenture plc Class A(10) | 125,320 | 34,795 |
Shares | Value | ||
IT Services—continued | |||
EPAM Systems, Inc.(8) | 25,610 | $ 7,549 | |
Mastercard, Inc. Class A(10) | 105,475 | 33,275 | |
Visa, Inc. Class A(10) | 170,485 | 33,567 | |
109,186 | |||
Life Sciences Tools & Services—1.3% | |||
Avantor, Inc.(8) | 789,479 | 24,553 | |
IQVIA Holdings, Inc.(8) | 118,460 | 25,705 | |
Thermo Fisher Scientific, Inc. | 41,990 | 22,812 | |
73,070 | |||
Machinery—0.2% | |||
Deere & Co. | 37,015 | 11,085 | |
Media—0.0% | |||
Postmedia Network Canada Corp.(2)(8) | 1,018,823 | 591 | |
Metals & Mining—0.2% | |||
Freeport-McMoRan, Inc. | 282,425 | 8,264 | |
Multiline Retail—0.2% | |||
Target Corp. | 66,560 | 9,400 | |
Oil, Gas & Consumable Fuels—0.8% | |||
ConocoPhillips (10) | 260,105 | 23,360 | |
Devon Energy Corp.(10) | 399,720 | 22,029 | |
Riviera Resources, Inc.(2) | 25,527 | — | |
45,389 | |||
Pharmaceuticals—0.9% | |||
Eli Lilly & Co.(10) | 92,525 | 29,999 | |
Zoetis, Inc. Class A | 112,850 | 19,398 | |
49,397 | |||
Road & Rail—0.7% | |||
Union Pacific Corp.(10) | 171,260 | 36,526 | |
Semiconductors & Semiconductor Equipment—1.9% | |||
Enphase Energy, Inc.(8)(10) | 131,630 | 25,700 | |
Lam Research Corp. | 41,920 | 17,864 | |
Marvell Technology, Inc. | 250,510 | 10,905 | |
Micron Technology, Inc.(10) | 389,325 | 21,522 | |
NVIDIA Corp. | 174,915 | 26,515 | |
102,506 | |||
Software—4.1% | |||
Adobe, Inc. (8) | 17,235 | 6,309 | |
Atlassian Corp. plc Class A(8)(10) | 64,700 | 12,125 |
Shares | Value | ||
Software—continued | |||
Crowdstrike Holdings, Inc. Class A(8)(10) | 123,360 | $ 20,794 | |
Intuit, Inc.(10) | 64,420 | 24,830 | |
Microsoft Corp.(10) | 472,065 | 121,240 | |
Salesforce, Inc.(8) | 55,705 | 9,194 | |
ServiceNow, Inc.(8)(10) | 59,060 | 28,084 | |
222,576 | |||
Specialty Retail—0.8% | |||
Home Depot, Inc. (The)(10) | 122,255 | 33,531 | |
TJX Cos., Inc. (The)(10) | 222,615 | 12,433 | |
45,964 | |||
Technology Hardware, Storage & Peripherals—2.0% | |||
Apple, Inc. | 811,140 | 110,899 | |
Textiles, Apparel & Luxury Goods—0.3% | |||
NIKE, Inc. Class B(10) | 175,520 | 17,938 | |
Quiksilver, Inc.(2) | 2 | — (11) | |
17,938 | |||
Total Common Stocks (Identified Cost $2,100,411) | 1,699,793 | ||
Warrants—0.0% | |||
Banks—0.0% | |||
CCF Holdings LLC(2)(8) | 2,911,361 | 320 | |
Media—0.0% | |||
Affinion Group Holdings(2)(8)(9) | 7,203 | — | |
Oil, Gas & Consumable Fuels—0.0% | |||
Nabors Industries Ltd.(8) | 2,910 | 93 | |
Total Warrants (Identified Cost $1,422) | 413 | ||
Par Value | ||
Convertible Bonds and Notes—24.9% | ||
Airlines—0.5% | ||
American Airlines Group, Inc. 6.500%, 7/1/25 | $ 4,100 | 4,308 |
Southwest Airlines Co. 1.250%, 5/1/25 | 20,275 | 23,874 |
28,182 | ||
Par Value | Value | ||
Auto Manufacturers—0.7% | |||
Ford Motor Co. 0.000%, 3/15/26 | $ 16,150 | $ 14,729 | |
Lucid Group, Inc. 144A 1.250%, 12/15/26(1) | 17,880 | 10,483 | |
NIO, Inc. 0.000%, 2/1/26 | 17,700 | 14,859 | |
40,071 | |||
Banks—0.6% | |||
BofA Finance LLC | |||
0.125%, 9/1/22 | 2,470 | 2,459 | |
0.600%, 5/25/27 | 26,755 | 27,140 | |
29,599 | |||
Biotechnology—0.9% | |||
BioMarin Pharmaceutical, Inc. | |||
0.599%, 8/1/24 | 5,990 | 5,930 | |
1.250%, 5/15/27 | 11,445 | 11,374 | |
Bridgebio Pharma, Inc. 2.250%, 2/1/29 | 12,175 | 4,976 | |
Guardant Health, Inc. 0.000%, 11/15/27 | 10,085 | 6,228 | |
Halozyme Therapeutics, Inc. 0.250%, 3/1/27 | 13,920 | 12,280 | |
Insmed, Inc. 0.750%, 6/1/28 | 4,225 | 3,515 | |
Livongo Health, Inc. 0.875%, 6/1/25 | 6,900 | 5,803 | |
50,106 | |||
Commercial Services—1.5% | |||
Affirm Holdings, Inc. 144A 0.000%, 11/15/26(1) | 24,175 | 13,532 | |
Block, Inc. | |||
0.125%, 3/1/25 | 5,765 | 5,405 | |
0.000%, 5/1/26 | 32,765 | 25,917 | |
0.250%, 11/1/27 | 2,860 | 2,097 | |
Chegg, Inc. 0.125%, 3/15/25 | 9,600 | 8,117 | |
Euronet Worldwide, Inc. 0.750%, 3/15/49 | 9,610 | 9,718 | |
Shift4 Payments, Inc. | |||
0.000%, 12/15/25 | 7,510 | 6,019 | |
144A 0.500%, 8/1/27(1) | 17,240 | 12,025 | |
82,830 | |||
Computers—0.7% | |||
Lumentum Holdings, Inc. | |||
0.500%, 12/15/26 | 17,475 | 17,901 | |
144A 0.500%, 6/15/28(1) | 13,500 | 11,570 |
Par Value | Value | ||
Computers—continued | |||
Zscaler, Inc. 0.125%, 7/1/25 | $ 8,875 | $ 10,743 | |
40,214 | |||
Cosmetics & Personal Care—0.2% | |||
Beauty Health Co. (The) 144A 1.250%, 10/1/26(1) | 12,475 | 10,017 | |
Diversified Financial Services—1.1% | |||
Coinbase Global, Inc. 0.500%, 6/1/26 | 19,960 | 11,167 | |
JPMorgan Chase Financial Co. LLC 0.500%, 6/15/27 | 24,000 | 25,200 | |
SoFi Technologies, Inc. 144A 0.000%, 10/15/26(1) | 21,245 | 13,873 | |
Upstart Holdings, Inc. 144A 0.250%, 8/15/26(1) | 12,330 | 6,892 | |
57,132 | |||
Electronics—0.1% | |||
II-VI, Inc. 0.250%, 9/1/22 | 6,940 | 7,700 | |
Energy-Alternate Sources—0.6% | |||
Enphase Energy, Inc. | |||
0.000%, 3/1/26 | 16,000 | 15,856 | |
0.000%, 3/1/28 | 11,325 | 11,240 | |
SolarEdge Technologies, Inc. 0.000%, 9/15/25 | 6,320 | 7,597 | |
34,693 | |||
Entertainment—0.5% | |||
DraftKings Holdings, Inc. 0.000%, 3/15/28 | 17,940 | 10,997 | |
Live Nation Entertainment, Inc. 2.000%, 2/15/25 | 6,460 | 6,719 | |
Vail Resorts, Inc. 0.000%, 1/1/26 | 10,560 | 9,187 | |
26,903 | |||
Equity Real Estate Investment Trusts (REITs)—0.2% | |||
Pebblebrook Hotel Trust 1.750%, 12/15/26 | 12,180 | 10,846 | |
Healthcare-Products—0.7% | |||
Exact Sciences Corp. | |||
0.375%, 3/15/27 | 790 | 576 | |
0.375%, 3/1/28 | 10,020 | 6,884 | |
Insulet Corp. 0.375%, 9/1/26 | 11,755 | 13,401 | |
Novocure Ltd. 0.000%, 11/1/25 | 8,460 | 7,237 |
Par Value | Value | ||
Healthcare-Products—continued | |||
Omnicell, Inc. 0.250%, 9/15/25 | $ 7,965 | $ 10,135 | |
38,233 | |||
Healthcare-Services—0.7% | |||
Elevance Health, Inc. 2.750%, 10/15/42 | 2,615 | 17,940 | |
Oak Street Health, Inc. 0.000%, 3/15/26 | 16,345 | 11,540 | |
Teladoc Health, Inc. 1.250%, 6/1/27 | 11,000 | 8,057 | |
37,537 | |||
Internet—5.4% | |||
Airbnb, Inc. 0.000%, 3/15/26 | 28,980 | 24,082 | |
Booking Holdings, Inc. 0.750%, 5/1/25 | 15,945 | 19,115 | |
Etsy, Inc. | |||
0.125%, 9/1/27 | 4,955 | 3,833 | |
0.250%, 6/15/28 | 30,600 | 22,415 | |
Expedia Group, Inc. 0.000%, 2/15/26 | 23,335 | 21,060 | |
Mandiant, Inc. 0.875%, 6/1/24 | 10,720 | 11,674 | |
Match Group Financeco 2, Inc. 144A 0.875%, 6/15/26(1) | 10,295 | 10,702 | |
Match Group Financeco 3, Inc. 144A 2.000%, 1/15/30(1) | 6,400 | 6,922 | |
Okta, Inc. | |||
0.125%, 9/1/25 | 12,545 | 10,989 | |
0.375%, 6/15/26 | 3,405 | 2,833 | |
Opendoor Technologies, Inc. 144A 0.250%, 8/15/26(1) | 7,375 | 4,186 | |
Palo Alto Networks, Inc. 0.375%, 6/1/25 | 14,780 | 25,333 | |
Sea Ltd. 0.250%, 9/15/26 | 24,825 | 18,122 | |
Shopify, Inc. 0.125%, 11/1/25 | 13,000 | 10,823 | |
Snap, Inc. | |||
0.000%, 5/1/27 | 7,755 | 5,370 | |
144A 0.125%, 3/1/28(1) | 36,940 | 25,692 | |
Spotify USA, Inc. 0.000%, 3/15/26 | 18,440 | 14,549 | |
Uber Technologies, Inc. 0.000%, 12/15/25 | 29,140 | 23,245 | |
Wayfair, Inc. 0.625%, 10/1/25 | 18,685 | 12,341 | |
Wix.com Ltd. 0.000%, 8/15/25 | 12,510 | 10,133 | |
Zillow Group, Inc. | |||
2.750%, 5/15/25 | 8,590 | 8,092 |
Par Value | Value | ||
Internet—continued | |||
1.375%, 9/1/26 | $ 5,500 | $ 5,495 | |
297,006 | |||
Leisure Time—0.6% | |||
NCL Corp., Ltd. 144A 1.125%, 2/15/27(1) | 26,520 | 17,172 | |
Royal Caribbean Cruises Ltd. | |||
4.250%, 6/15/23 | 8,465 | 8,084 | |
2.875%, 11/15/23 | 9,510 | 8,600 | |
33,856 | |||
Machinery-Diversified—0.2% | |||
Middleby Corp. (The) 1.000%, 9/1/25 | 8,915 | 10,069 | |
Media—1.4% | |||
DISH Network Corp. | |||
2.375%, 3/15/24 | 9,000 | 7,920 | |
0.000%, 12/15/25 | 14,730 | 10,312 | |
3.375%, 8/15/26 | 7,890 | 5,330 | |
Liberty Broadband Corp. | |||
144A 1.250%, 9/30/50(1) | 1,885 | 1,761 | |
144A 2.750%, 9/30/50(1) | 12,545 | 11,933 | |
Liberty Media Corp. | |||
1.375%, 10/15/23 | 14,325 | 16,767 | |
144A 0.500%, 12/1/50(1) | 19,030 | 21,294 | |
75,317 | |||
Mining—0.2% | |||
MP Materials Corp. 144A 0.250%, 4/1/26(1) | 12,085 | 11,685 | |
Oil, Gas & Consumable Fuels—0.5% | |||
Pioneer Natural Resources Co. 0.250%, 5/15/25 | 13,535 | 29,263 | |
Pharmaceuticals—1.2% | |||
Clovis Oncology, Inc. 1.250%, 5/1/25 | 4,440 | 3,108 | |
Dexcom, Inc. 0.250%, 11/15/25 | 33,400 | 30,561 | |
Jazz Investments I Ltd. 2.000%, 6/15/26 | 25,110 | 29,441 | |
63,110 | |||
Retail—0.2% | |||
Burlington Stores, Inc. 2.250%, 4/15/25 | 8,845 | 8,718 |
Par Value | Value | ||
Semiconductors—0.8% | |||
MACOM Technology Solutions Holdings, Inc. 0.250%, 3/15/26 | $ 5,025 | $ 4,372 | |
Microchip Technology, Inc. 0.125%, 11/15/24 | 29,134 | 28,988 | |
Wolfspeed, Inc. | |||
1.750%, 5/1/26 | 3,090 | 4,720 | |
144A 0.250%, 2/15/28(1) | 6,725 | 5,582 | |
43,662 | |||
Software—5.4% | |||
Akamai Technologies, Inc. | |||
0.125%, 5/1/25 | 12,050 | 13,189 | |
0.375%, 9/1/27 | 7,975 | 7,923 | |
Alteryx, Inc. 0.500%, 8/1/24 | 12,690 | 11,135 | |
Avalara, Inc. 144A 0.250%, 8/1/26(1) | 18,305 | 14,195 | |
Bentley Systems, Inc. | |||
0.125%, 1/15/26 | 775 | 668 | |
144A 0.375%, 7/1/27(1) | 19,350 | 14,996 | |
Bill.com Holdings, Inc. 144A 0.000%, 4/1/27(1) | 28,120 | 21,596 | |
Blackline, Inc. 0.000%, 3/15/26 | 7,290 | 5,774 | |
Cloudflare, Inc. 144A 0.000%, 8/15/26(1) | 26,580 | 20,517 | |
Confluent, Inc. 144A 0.000%, 1/15/27(1) | 16,890 | 12,277 | |
Coupa Software, Inc. | |||
0.125%, 6/15/25 | 18,500 | 15,272 | |
0.375%, 6/15/26 | 16,045 | 12,034 | |
DigitalOcean Holdings, Inc. 144A 0.000%, 12/1/26(1) | 25,880 | 19,330 | |
DocuSign, Inc. 0.000%, 1/15/24 | 11,080 | 10,205 | |
Five9, Inc. 0.500%, 6/1/25 | 11,745 | 11,457 | |
MicroStrategy, Inc. 0.000%, 2/15/27 | 12,620 | 5,458 | |
MongoDB, Inc. 0.250%, 1/15/26 | 3,990 | 5,580 | |
Nutanix, Inc. 144A 0.250%, 10/1/27(1) | 10,030 | 6,934 | |
RingCentral, Inc. | |||
0.000%, 3/1/25 | 19,170 | 15,671 | |
0.000%, 3/15/26 | 5,270 | 3,958 | |
Splunk, Inc. | |||
1.125%, 9/15/25 | 25,000 | 23,437 |
Par Value | Value | ||
Software—continued | |||
1.125%, 6/15/27 | $ 6,025 | $ 4,971 | |
Tyler Technologies, Inc. 0.250%, 3/15/26 | 9,315 | 8,733 | |
Unity Software, Inc. 144A 0.000%, 11/15/26(1) | 28,435 | 20,900 | |
Workday, Inc. 0.250%, 10/1/22 | 9,015 | 9,425 | |
295,635 | |||
Total Convertible Bonds and Notes (Identified Cost $1,677,146) | 1,362,384 | ||
Total Long-Term Investments—96.2% (Identified Cost $6,383,755) | 5,267,152 | ||
Shares | ||
Short-Term Investment—3.3% | ||
Money Market Mutual Fund—3.3% | ||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(12) | 178,209,121 | 178,209 |
Total Short-Term Investment (Identified Cost $178,209) | 178,209 | |
TOTAL INVESTMENTS, BEFORE WRITTEN OPTIONS—99.5% (Identified Cost $6,561,964) | 5,445,361 | |
Written Options—(0.0)% | ||
(See open written options schedule) | ||
Total Written Options (Premiums Received $1,191) | (1,198) | |
TOTAL INVESTMENTS, NET OF WRITTEN OPTIONS—99.5% (Identified Cost $6,560,773) | $5,444,163 | |
Other assets and liabilities, net—0.5% | 28,862 | |
NET ASSETS—100.0% | $5,473,025 |
Abbreviations: | |
EV | Enterprise Value |
LIBOR | London Interbank Offered Rate |
LLC | Limited Liability Company |
LP | Limited Partnership |
REIT | Real Estate Investment Trust |
S&P | Standard & Poor’s |
Footnote Legend: | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2022, these securities amounted to a value of $1,700,940 or 31.1% of net assets. |
(2) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(3) | Security in default; no interest payments are being received during the bankruptcy proceedings. |
(4) | This loan will settle after June 30, 2022, at which time the interest rate, based on the LIBOR and the agreed upon spread on trade date, will be reflected. |
(5) | Variable rate security. Rate disclosed is as of June 30, 2022. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
(6) | During the reporting period, a member of the Fund’s portfolio management team was a member of the board of directors of LiveStyle, Inc. As of the reporting period end, this is no longer the case. |
(7) | Affiliated company. See Note 4G in Notes to Financial Statements. |
(8) | Non-income producing. |
(9) | All or a portion of the security is restricted. |
(10) | All or a portion of the security is segregated as collateral for written options. The value of securities segregated as collateral is $366,205. |
(11) | Amount is less than $500. |
(12) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 93% |
United Kingdom | 2 |
Bermuda | 1 |
Canada | 1 |
Curaçao | 1 |
Liberia | 1 |
Cayman Islands | 1 |
Total | 100% |
† % of total investments, net of written options, as of June 30, 2022. |
Open written options contracts as of June 30, 2022 were as follows: | |||||
Description of Options | Number of Contracts | Contract Notional Amount | Strike Price(1) | Expiration Date | Value |
Call Options(2) | |||||
Abbott Laboratories | (725) | $ (9,425) | $ 130.00 | 07/15/22 | $ (1) |
AbbVie, Inc. | (1,410) | (21,855) | 155.00 | 07/15/22 | (261) |
Accenture plc | (455) | (14,332) | 315.00 | 07/15/22 | (8) |
Alphabet, Inc. | (292) | (81,760) | 2,800.00 | 07/15/22 | (19) |
Amazon.com, Inc. | (925) | (14,569) | 157.50 | 08/19/22 | (13) |
American Tower Corp. | (565) | (15,820) | 280.00 | 07/15/22 | (23) |
Aon plc | (230) | (6,670) | 290.00 | 07/15/22 | (11) |
Atlassian Corp. plc | (133) | (3,724) | 280.00 | 08/19/22 | (15) |
Booking Holdings, Inc. | (85) | (21,250) | 2,500.00 | 08/19/22 | (36) |
Charles Schwab Corp. (The) | (1,720) | (14,190) | 82.50 | 07/15/22 | — |
CME U.S. | (345) | (8,280) | 240.00 | 08/19/22 | (13) |
ConocoPhillips | (1,780) | (24,030) | 135.00 | 07/15/22 | (2) |
Crowdstrike Holdings, Inc. | (485) | (11,640) | 240.00 | 07/15/22 | (2) |
Devon Energy Corp. | (2,150) | (16,125) | 75.00 | 07/15/22 | (6) |
Eli Lilly & Co. | (555) | (18,870) | 340.00 | 07/15/22 | (189) |
Enphase Energy, Inc. | (355) | (9,230) | 260.00 | 07/15/22 | (13) |
Home Depot, Inc. (The) | (135) | (4,590) | 340.00 | 07/15/22 | (—) (3) |
Intuit, Inc. | (200) | (10,000) | 500.00 | 07/15/22 | (1) |
JPMorgan Chase & Co. | (970) | (14,550) | 150.00 | 07/15/22 | (1) |
Mastercard, Inc. | (685) | (26,373) | 385.00 | 08/19/22 | (67) |
Micron Technology, Inc. | (550) | (4,400) | 80.00 | 08/19/22 | (6) |
Microsoft Corp. | (1,015) | (31,465) | 310.00 | 08/19/22 | (56) |
NIKE, Inc. | (175) | (2,450) | 140.00 | 07/15/22 | (—) (3) |
S&P Global, Inc. | (110) | (4,070) | 370.00 | 07/15/22 | (5) |
ServiceNow, Inc. | (100) | (5,600) | 560.00 | 07/15/22 | (8) |
Sherwin-Williams Co. (The) | (135) | (4,185) | 310.00 | 07/15/22 | — |
TJX Cos., Inc. (The) | (665) | (4,821) | 72.50 | 07/15/22 | (1) |
Union Pacific Corp. | (140) | (3,500) | 250.00 | 07/15/22 | (—) (3) |
UnitedHealth Group, Inc. | (550) | (29,700) | 540.00 | 07/15/22 | (192) |
Visa, Inc. | (1,020) | (24,480) | 240.00 | 07/15/22 | (1) |
(950) |
Open written options contracts as of June 30, 2022 were as follows (continued): | |||||
Description of Options | Number of Contracts | Contract Notional Amount | Strike Price(1) | Expiration Date | Value |
Put Options(2) | |||||
Mastercard, Inc. | (275) | $ (8,388) | $ 305.00 | 07/15/22 | $ (170) |
Visa, Inc. | (440) | (8,140) | 185.00 | 07/15/22 | (78) |
(248) | |||||
Total Written Options | $(1,198) |
Footnote Legend: | |
(1) Strike price not reported in thousands. | |
(2) Exchange-traded options. | |
(3) Amount is less than $500. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | ||||
Assets: | |||||||
Debt Securities: | |||||||
Corporate Bonds and Notes | $1,827,891 | $ — | $1,825,729 | $ 2,162(1) | |||
Leveraged Loans | 13,976 | — | 13,976 | — | |||
Convertible Bonds and Notes | 1,362,384 | — | 1,362,384 | — | |||
Equity Securities: | |||||||
Common Stocks | 1,699,793 | 1,696,142 | — | 3,651 (1) | |||
Convertible Preferred Stocks | 357,077 | 320,789 | 36,288 | — | |||
Warrants | 413 | 93 | — | 320 (1) | |||
Preferred Stocks | 5,618 | — | — | 5,618 (1) | |||
Money Market Mutual Fund | 178,209 | 178,209 | — | — | |||
Total Investments, Before Written Options | 5,445,361 | 2,195,233 | 3,238,377 | 11,751 | |||
Liabilities: | |||||||
Other Financial Instruments: | |||||||
Written Options | (1,198) | (1,173) | (25) | — | |||
Total Investments, Net of Written Options | $5,444,163 | $2,194,060 | $3,238,352 | $11,751 |
(1) | Includes internally fair valued securities currently priced at zero ($0). |
Total | Corporate Bonds And Notes | Leveraged Loans | Common Stocks | Warrants | Preferred Stocks | ||||||
Investments in Securities | |||||||||||
Balance as of June 30, 2021: | $ 45,580 | $ 5,046(a) | $ 11,673 | $ 8,943(a) | $ 1,536(a) | $ 18,382(a) | |||||
Accrued discount/(premium) | — (b) | — (b) | — | — | — | — | |||||
Net realized gain (loss) | (40,746) | (21,994) | — | (19,162) | 65 | 345 | |||||
Net change in unrealized appreciation (depreciation)(c) | 32,815 | 20,714 | — | 13,992 | (1,180) | (711) | |||||
Sales (d) | (25,191) | (897) | (11,673) | (122) | (101) | (12,398) | |||||
Transfers into Level 3(e) | 47 | 47 | — | — | — | — | |||||
Transfers from Level 3(e) | (754) | (754) | — | — | — | — | |||||
Balance as of June 30, 2022 | $ 11,751 | $ 2,162(a) | $ — | $ 3,651(a) | $ 320{a} | $ 5,618(a) |
Investments in Securities – Assets | Ending Balance at June 30, 2022 | Valuation Technique Used | Unobservable Inputs | Input Values | ||||
Preferred Stocks: | ||||||||
LiveStyle, Inc. Series B | $5,618 | Market and Company Comparables | EV Multiples | 1.37x (0.24x - 2.80x) | ||||
Illiquidity Discount | -75% - 30% | |||||||
Common Stocks: | ||||||||
CCF Holdings LLC | $2,077 | Market and Company Comparables | EV Multiples | 1.05x (0.60x - 1.49x) | ||||
0.60x (0.37x - 0.82x) | ||||||||
Illiquidity Discount | 20% | |||||||
CCF Holdings LLC, Class M | $ 493 | Market and Company Comparables | EV Multiples | 1.05x (0.60x - 1.49x) | ||||
0.60x (0.37x - 0.82x) | ||||||||
Illiquidity Discount | 20% | |||||||
CENVEO Corp. | $ 273 | Market and Company Comparables | EV Multiples | 0.53x (0.28x - 0.86x) | ||||
4.20x (3.42x - 6.03x) | ||||||||
0.53x (0.46x - 0.68x) | ||||||||
Illiquidity Discount | 20% | |||||||
Erickson, Inc. | $ 217 | Market and Company Comparables | EV Multiples | 1.10x (0.64x - 2.41x) | ||||
10.56x (8.45x - 11.95x) | ||||||||
0.84x (0.45x - 1.45x) | ||||||||
M&A Transaction Multiples | 0.96x (0.41x - 1.96x) | |||||||
Illiquidity Discount | 20% | |||||||
LiveStyle, Inc | $ —(1) | Market and Company Comparables | EV Multiples | 1.37x (0.24x - 2.80x) | ||||
Illiquidity Discount | -75% - 30% | |||||||
Investments in Securities – Assets | Ending Balance at June 30, 2022 | Valuation Technique Used | Unobservable Inputs | Input Values | ||||
Postmedia Network Canada Corp. | $ 591 | Market and Company Comparables | EV Multiples | 0.98x (0.37x - 2.06x) | ||||
6.08x (2.50x - 13.15x) | ||||||||
Illiquidity Discount | 10% | |||||||
Quiksilver, Inc. | $ —(1) | Market and Company Comparables | EV Multiples | 0.65x (0.34x - 1.05x) | ||||
0.82x (0.41x - 1.49x) | ||||||||
Illiquidity Discount | 20% | |||||||
Warrants: | ||||||||
CCF Holdings LLC | $ 320 | Market and Company Comparables | EV Multiples | 1.05x (0.60x - 1.49x) | ||||
0.60x (0.37x - 0.82x) | ||||||||
Illiquidity Discount | 20% | |||||||
Black-Scholes Model | Volatility | 51.03% | ||||||
(1) Amount is less than $500. |
Shares | Value | ||
Common Stocks—98.4% | |||
Aerospace & Defense—2.5% | |||
Hexcel Corp. | 137,985 | $ 7,218 | |
Biotechnology—2.1% | |||
Horizon Therapeutics plc(1) | 74,420 | 5,936 | |
Commercial Services & Supplies—2.9% | |||
Waste Management, Inc. | 54,724 | 8,372 | |
Construction & Engineering—3.0% | |||
Quanta Services, Inc. | 67,749 | 8,492 | |
Distributors—1.8% | |||
Pool Corp. | 14,961 | 5,255 | |
Electrical Equipment—2.9% | |||
AMETEK, Inc. | 40,477 | 4,448 | |
Generac Holdings, Inc.(1) | 18,585 | 3,914 | |
8,362 | |||
Electronic Equipment, Instruments & Components—4.5% | |||
Keysight Technologies, Inc.(1) | 52,514 | 7,239 | |
TE Connectivity Ltd. | 50,708 | 5,738 | |
12,977 | |||
Equity Real Estate Investment—4.1% | |||
Public Storage | 19,145 | 5,986 | |
Terreno Realty Corp. | 103,150 | 5,749 | |
11,735 | |||
Healthcare Equipment & Supplies—8.0% | |||
Boston Scientific Corp.(1) | 81,205 | 3,026 | |
Cooper Cos., Inc. (The) | 16,065 | 5,030 | |
Dexcom, Inc.(1) | 92,972 | 6,929 | |
Envista Holdings Corp.(1) | 55,960 | 2,157 | |
IDEXX Laboratories, Inc.(1) | 16,268 | 5,706 | |
22,848 | |||
Healthcare Providers & Services—6.0% | |||
AmerisourceBergen Corp. | 62,745 | 8,877 | |
Centene Corp.(1) | 43,130 | 3,649 | |
Tenet Healthcare Corp.(1) | 86,865 | 4,566 | |
17,092 | |||
Hotels, Restaurants & Leisure—2.6% | |||
Expedia Group, Inc.(1) | 53,917 | 5,113 | |
Wingstop, Inc. | 33,315 | 2,491 | |
7,604 | |||
Household Durables—1.0% | |||
DR Horton, Inc. | 43,686 | 2,891 | |
Insurance—2.6% | |||
Gallagher (Arthur J.) & Co. | 45,573 | 7,430 |
Shares | Value | ||
Interactive Media & Services—1.1% | |||
ZoomInfo Technologies, Inc. Class A(1) | 98,572 | $ 3,276 | |
IT Services—2.3% | |||
EPAM Systems, Inc.(1) | 22,656 | 6,678 | |
Life Sciences Tools & Services—2.6% | |||
Avantor, Inc.(1) | 237,704 | 7,392 | |
Machinery—2.5% | |||
Westinghouse Air Brake Technologies Corp. | 86,137 | 7,070 | |
Oil, Gas & Consumable Fuels—2.5% | |||
Diamondback Energy, Inc. | 24,179 | 2,929 | |
Valero Energy Corp. | 39,124 | 4,158 | |
7,087 | |||
Pharmaceuticals—1.5% | |||
Catalent, Inc.(1) | 39,321 | 4,219 | |
Professional Services—2.1% | |||
Leidos Holdings, Inc. | 59,345 | 5,977 | |
Semiconductors & Semiconductor Equipment—11.2% | |||
Analog Devices, Inc. | 32,413 | 4,735 | |
Enphase Energy, Inc.(1) | 45,909 | 8,963 | |
Entegris, Inc. | 50,113 | 4,617 | |
Lam Research Corp. | 10,418 | 4,440 | |
Marvell Technology, Inc. | 66,018 | 2,874 | |
Monolithic Power Systems, Inc. | 16,374 | 6,288 | |
31,917 | |||
Software—15.4% | |||
Atlassian Corp. plc Class A(1) | 22,242 | 4,168 | |
Datadog, Inc. Class A(1) | 72,656 | 6,920 | |
HubSpot, Inc.(1) | 16,687 | 5,017 | |
Palo Alto Networks, Inc.(1) | 17,780 | 8,782 | |
Paycom Software, Inc.(1) | 15,004 | 4,203 | |
Trade Desk, Inc. (The) Class A(1) | 110,837 | 4,643 | |
Varonis Systems, Inc.(1) | 141,033 | 4,135 | |
Zscaler, Inc.(1) | 40,824 | 6,104 | |
43,972 | |||
Specialty Retail—6.2% | |||
Five Below, Inc.(1) | 30,129 | 3,417 | |
O’Reilly Automotive, Inc.(1) | 10,750 | 6,791 | |
Tractor Supply Co. | 38,595 | 7,482 | |
17,690 | |||
Technology Hardware, Storage & Peripherals—2.0% | |||
Seagate Technology Holdings plc | 78,550 | 5,612 |
Shares | Value | ||
Textiles, Apparel & Luxury Goods—2.0% | |||
Lululemon Athletica, Inc.(1) | 11,639 | $ 3,173 | |
On Holding AG Class A(1) | 137,760 | 2,437 | |
5,610 | |||
Trading Companies & Distributors—3.0% | |||
Ferguson plc | 47,140 | 5,219 | |
United Rentals, Inc.(1) | 13,951 | 3,389 | |
8,608 | |||
Total Common Stocks (Identified Cost $286,191) | 281,320 | ||
Total Long-Term Investments—98.4% (Identified Cost $286,191) | 281,320 | ||
Short-Term Investment—1.6% | |||
Money Market Mutual Fund—1.6% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 4,639,984 | 4,640 | |
Total Short-Term Investment (Identified Cost $4,640) | 4,640 | ||
TOTAL INVESTMENTS—100.0% (Identified Cost $290,831) | $285,960 | ||
Other assets and liabilities, net—(0.0)% | (99) | ||
NET ASSETS—100.0% | $285,861 |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 89% |
Ireland | 4 |
Switzerland | 3 |
Jersey | 2 |
United Kingdom | 1 |
Canada | 1 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $281,320 | $281,320 | |
Money Market Mutual Fund | 4,640 | 4,640 | |
Total Investments | $285,960 | $285,960 |
Shares | Value | ||
Common Stocks—98.9% | |||
Communication Services—5.9% | |||
Comcast Corp. Class A | 315,209 | $ 12,369 | |
Electronic Arts, Inc. | 61,386 | 7,467 | |
Verizon Communications, Inc. | 459,409 | 23,315 | |
43,151 | |||
Consumer Discretionary—8.6% | |||
Best Buy Co., Inc. | 82,075 | 5,350 | |
DR Horton, Inc. | 113,071 | 7,484 | |
Home Depot, Inc. (The) | 79,913 | 21,918 | |
McDonald’s Corp. | 31,124 | 7,684 | |
MDC Holdings, Inc. | 208,000 | 6,721 | |
Starbucks Corp. | 107,842 | 8,238 | |
Wendy’s Co. (The) | 294,250 | 5,555 | |
62,950 | |||
Consumer Staples—0.8% | |||
Walmart, Inc. | 49,491 | 6,017 | |
Energy—2.8% | |||
EOG Resources, Inc. | 43,400 | 4,793 | |
ONEOK, Inc. | 154,141 | 8,555 | |
Phillips 66 | 82,047 | 6,727 | |
20,075 | |||
Financials—21.8% | |||
Allstate Corp. (The) | 68,074 | 8,627 | |
Bank of America Corp. | 171,132 | 5,327 | |
BlackRock, Inc. Class A | 22,881 | 13,936 | |
Blackstone Mortgage Trust, Inc. Class A | 287,542 | 7,956 | |
Blackstone, Inc. | 62,375 | 5,691 | |
Citigroup, Inc. | 541,014 | 24,881 | |
Fidelity National Financial, Inc. | 200,565 | 7,413 | |
Intercontinental Exchange, Inc. | 76,808 | 7,223 | |
JPMorgan Chase & Co. | 253,874 | 28,589 | |
Kinsale Capital Group, Inc. | 65,012 | 14,929 | |
Morgan Stanley | 171,829 | 13,069 | |
MSCI, Inc. Class A | 13,955 | 5,752 | |
S&P Global, Inc. | 22,228 | 7,492 | |
Truist Financial Corp. | 164,580 | 7,806 | |
158,691 | |||
Shares | Value | ||
Health Care—12.7% | |||
Abbott Laboratories | 122,402 | $ 13,299 | |
Baxter International, Inc. | 107,836 | 6,926 | |
Chemed Corp. | 10,483 | 4,921 | |
Johnson & Johnson | 82,444 | 14,635 | |
Merck & Co., Inc. | 339,198 | 30,925 | |
Thermo Fisher Scientific, Inc. | 26,037 | 14,145 | |
UnitedHealth Group, Inc. | 15,231 | 7,823 | |
92,674 | |||
Industrials—12.7% | |||
Cintas Corp. | 14,386 | 5,374 | |
Cummins, Inc. | 39,115 | 7,570 | |
FedEx Corp. | 77,191 | 17,500 | |
Honeywell International, Inc. | 34,236 | 5,951 | |
Leidos Holdings, Inc. | 72,375 | 7,289 | |
Lennox International, Inc. | 34,854 | 7,200 | |
Lockheed Martin Corp. | 24,090 | 10,358 | |
Norfolk Southern Corp. | 74,611 | 16,958 | |
Stanley Black & Decker, Inc. | 60,567 | 6,351 | |
TransUnion | 96,264 | 7,700 | |
92,251 | |||
Information Technology—14.7% | |||
Apple, Inc. | 48,869 | 6,681 | |
Broadcom, Inc. | 13,118 | 6,373 | |
Cisco Systems, Inc. | 271,646 | 11,583 | |
Global Payments, Inc. | 93,053 | 10,295 | |
Lam Research Corp. | 17,041 | 7,262 | |
Mastercard, Inc. Class A | 33,996 | 10,725 | |
Microsoft Corp. | 75,812 | 19,471 | |
QUALCOMM, Inc. | 55,445 | 7,083 | |
Texas Instruments, Inc. | 182,569 | 28,052 | |
107,525 | |||
Materials—6.0% | |||
Air Products & Chemicals, Inc. | 54,224 | 13,040 | |
Celanese Corp. | 135,514 | 15,938 | |
LyondellBasell Industries N.V. Class A | 80,527 | 7,043 | |
Royal Gold, Inc. | 74,140 | 7,916 | |
43,937 | |||
Shares | Value | ||
Real Estate—9.7% | |||
Alexandria Real Estate Equities, Inc. | 157,551 | $ 22,849 | |
American Tower Corp. | 56,973 | 14,562 | |
Crown Castle International Corp. | 90,194 | 15,187 | |
Medical Properties Trust, Inc. | 654,412 | 9,993 | |
Sun Communities, Inc. | 51,649 | 8,231 | |
70,822 | |||
Utilities—3.2% | |||
NextEra Energy, Inc. | 299,397 | 23,191 | |
Total Common Stocks (Identified Cost $672,087) | 721,284 | ||
Total Long-Term Investments—98.9% (Identified Cost $672,087) | 721,284 | ||
Short-Term Investment—1.0% | |||
Money Market Mutual Fund—1.0% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(1) | 7,473,254 | 7,473 | |
Total Short-Term Investment (Identified Cost $7,473) | 7,473 | ||
TOTAL INVESTMENTS—99.9% (Identified Cost $679,560) | $728,757 | ||
Other assets and liabilities, net—0.1% | 400 | ||
NET ASSETS—100.0% | $729,157 |
Abbreviations: | |
MSCI | Morgan Stanley Capital International |
S&P | Standard & Poor’s |
Footnote Legend: | |
(1) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $721,284 | $721,284 | |
Money Market Mutual Fund | 7,473 | 7,473 | |
Total Investments | $728,757 | $728,757 |
Shares | Value | ||
Preferred Stock—3.6% | |||
South Korea—3.6% | |||
Samsung Electronics Co., Ltd., 1.930% | 101,621 | $ 4,070 | |
Total Preferred Stock (Identified Cost $6,484) | 4,070 | ||
Common Stocks—93.9% | |||
Australia—0.4% | |||
JB Hi-Fi Ltd. | 16,242 | 431 | |
Austria—1.0% | |||
Erste Group Bank AG Sponsored ADR | 85,611 | 1,094 | |
Brazil—2.0% | |||
B3 S.A. - Brasil Bolsa Balcao | 1,070,600 | 2,252 | |
Canada—2.8% | |||
Cogeco Communications, Inc. | 11,568 | 782 | |
Manulife Financial Corp. | 120,791 | 2,095 | |
National Bank of Canada | 4,264 | 280 | |
3,157 | |||
China—22.5% | |||
Alibaba Group Holding Ltd.(1) | 361,400 | 5,154 | |
China Lesso Group Holdings Ltd. | 1,453,000 | 2,192 | |
China Merchants Bank Co., Ltd. Class A | 829,500 | 5,229 | |
ENN Energy Holdings Ltd. | 124,500 | 2,045 | |
Longfor Group Holdings Ltd. | 563,500 | 2,661 | |
Luxshare Precision Industry Co., Ltd. Class A | 624,175 | 3,151 | |
NetEase, Inc. | 28,600 | 525 | |
Ping An Bank Co., Ltd. Class A(1) | 555,555 | 1,243 | |
Ping An Insurance Group Co. of China Ltd. Class A | 249,800 | 1,742 | |
Tencent Holdings Ltd. | 30,600 | 1,382 | |
25,324 | |||
Denmark—1.0% | |||
DSV A/S | 7,850 | 1,096 | |
Finland—2.6% | |||
Kesko Oyj Class B | 80,290 | 1,894 | |
Valmet Oyj | 44,150 | 1,083 | |
2,977 | |||
France—10.5% | |||
BioMerieux | 21,489 | 2,099 | |
BNP Paribas S.A. | 35,742 | 1,699 | |
Kering S.A. | 2,346 | 1,205 | |
L’Oreal S.A. | 2,697 | 931 | |
Sanofi | 11,526 | 1,164 |
Shares | Value | ||
France—continued | |||
Schneider Electric SE | 6,784 | $ 802 | |
TotalEnergies SE | 74,401 | 3,927 | |
11,827 | |||
Germany—5.9% | |||
Deutsche Post AG Registered Shares | 61,915 | 2,319 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen Registered Shares | 4,893 | 1,150 | |
Vonovia SE | 104,529 | 3,220 | |
6,689 | |||
Hong Kong—3.6% | |||
AIA Group Ltd. | 109,000 | 1,181 | |
Hong Kong Exchanges & Clearing Ltd. | 11,500 | 566 | |
Techtronic Industries Co., Ltd. | 217,500 | 2,269 | |
4,016 | |||
India—1.1% | |||
HDFC Bank Ltd. ADR | 22,183 | 1,219 | |
Ireland—1.4% | |||
CRH plc Sponsored ADR | 44,385 | 1,546 | |
Italy—1.4% | |||
Enel SpA | 283,584 | 1,551 | |
Japan—3.7% | |||
ITOCHU Corp. | 39,200 | 1,060 | |
Sony Group Corp. | 24,700 | 2,020 | |
Toyota Motor Corp. | 67,400 | 1,043 | |
4,123 | |||
Netherlands—4.1% | |||
ASML Holding N.V. | 8,616 | 4,116 | |
Wolters Kluwer N.V. | 5,753 | 558 | |
4,674 | |||
Saudi Arabia—1.0% | |||
Saudi Arabian Oil Co. | 111,922 | 1,158 | |
Singapore—2.9% | |||
DBS Group Holdings Ltd. | 48,800 | 1,042 | |
Mapletree Industrial Trust | 1,191,400 | 2,230 | |
3,272 | |||
South Africa—1.5% | �� | ||
Naspers Ltd. Class N | 11,739 | 1,709 | |
South Korea—3.1% | |||
POSCO Holdings, Inc. | 10,791 | 1,916 | |
Samsung Electronics Co., Ltd. | 35,155 | 1,543 | |
3,459 | |||
Shares | Value | ||
Spain—1.9% | |||
Iberdrola S.A. | 202,236 | $ 2,097 | |
Switzerland—2.0% | |||
Nestle S.A. Registered Shares | 4,733 | 552 | |
Roche Holding AG | 1,600 | 534 | |
Zurich Insurance Group AG | 2,616 | 1,138 | |
2,224 | |||
Taiwan—4.7% | |||
Micro-Star International Co., Ltd. | 275,000 | 1,050 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 268,000 | 4,290 | |
5,340 | |||
United Kingdom—6.7% | |||
3i Group plc | 36,678 | 495 | |
Barratt Developments plc | 396,503 | 2,208 | |
London Stock Exchange Group plc | 11,796 | 1,096 | |
Rio Tinto plc | 62,066 | 3,714 | |
7,513 | |||
United States—6.1% | |||
American Tower Corp. | 4,305 | 1,100 | |
Broadcom, Inc. | 4,100 | 1,992 | |
Global Payments, Inc. | 15,012 | 1,661 | |
Lam Research Corp. | 4,898 | 2,087 | |
6,840 | |||
Total Common Stocks (Identified Cost $118,210) | 105,588 | ||
Total Long-Term Investments—97.5% (Identified Cost $124,694) | 109,658 | ||
Short-Term Investment—2.2% | |||
Money Market Mutual Fund—2.2% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 2,517,729 | 2,518 | |
Total Short-Term Investment (Identified Cost $2,518) | 2,518 | ||
TOTAL INVESTMENTS—99.7% (Identified Cost $127,212) | $112,176 | ||
Other assets and liabilities, net—0.3% | 294 | ||
NET ASSETS—100.0% | $112,470 |
Abbreviation: | |
ADR | American Depositary Receipt |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
China | 23% |
France | 10 |
United States | 8 |
South Korea | 7 |
United Kingdom | 7 |
Germany | 6 |
Taiwan | 5 |
Other | 34 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $105,588 | $105,588 | |
Preferred Stock | 4,070 | 4,070 | |
Money Market Mutual Fund | 2,518 | 2,518 | |
Total Investments | $112,176 | $112,176 |
Shares | Value | ||
Common Stocks—98.1% | |||
Communication Services—8.0% | |||
Alphabet, Inc. Class A(1) | 1,789 | $ 3,899 | |
Cable One, Inc. | 3,248 | 4,188 | |
Comcast Corp. Class A | 147,057 | 5,770 | |
Take-Two Interactive Software, Inc.(1) | 25,011 | 3,064 | |
Verizon Communications, Inc. | 96,268 | 4,886 | |
Walt Disney Co. (The)(1) | 14,659 | 1,384 | |
23,191 | |||
Consumer Discretionary—7.1% | |||
Best Buy Co., Inc. | 45,301 | 2,953 | |
Domino’s Pizza, Inc. | 3,079 | 1,200 | |
DR Horton, Inc. | 18,142 | 1,201 | |
Home Depot, Inc. (The) | 20,230 | 5,549 | |
Pool Corp. | 9,612 | 3,376 | |
Target Corp. | 7,675 | 1,084 | |
TopBuild Corp.(1) | 14,354 | 2,399 | |
Wendy’s Co. (The) | 157,779 | 2,979 | |
20,741 | |||
Consumer Staples—1.0% | |||
Walmart, Inc. | 24,665 | 2,999 | |
Energy—3.2% | |||
Hess Corp. | 25,217 | 2,671 | |
ONEOK, Inc. | 33,583 | 1,864 | |
Phillips 66 | 25,944 | 2,127 | |
Valero Energy Corp. | 23,671 | 2,516 | |
9,178 | |||
Financials—20.5% | |||
Allstate Corp. (The) | 20,649 | 2,617 | |
Bank of America Corp. | 102,120 | 3,179 | |
BlackRock, Inc. Class A | 4,614 | 2,810 | |
Broadridge Financial Solutions, Inc. | 8,840 | 1,260 | |
Citigroup, Inc. | 198,561 | 9,132 | |
Fidelity National Financial, Inc. | 34,877 | 1,289 | |
First American Financial Corp. | 25,578 | 1,354 | |
Goldman Sachs Group, Inc. (The) | 9,715 | 2,886 | |
Intercontinental Exchange, Inc. | 30,390 | 2,858 | |
JPMorgan Chase & Co. | 100,202 | 11,284 | |
Morgan Stanley | 53,306 | 4,054 | |
PNC Financial Services Group, Inc. (The) | 8,929 | 1,409 | |
Primerica, Inc. | 25,485 | 3,050 | |
Regions Financial Corp. | 72,861 | 1,366 | |
S&P Global, Inc. | 7,605 | 2,563 | |
T. Rowe Price Group, Inc. | 24,029 | 2,730 | |
Truist Financial Corp. | 91,765 | 4,352 | |
Willis Towers Watson plc | 7,466 | 1,474 | |
59,667 | |||
Shares | Value | ||
Health Care—14.2% | |||
Abbott Laboratories | 22,718 | $ 2,468 | |
Amgen, Inc. | 7,961 | 1,937 | |
Baxter International, Inc. | 41,547 | 2,669 | |
Bristol-Myers Squibb Co. | 28,771 | 2,215 | |
Chemed Corp. | 3,097 | 1,454 | |
Danaher Corp. | 11,428 | 2,897 | |
Humana, Inc. | 10,325 | 4,833 | |
Johnson & Johnson | 9,286 | 1,648 | |
Merck & Co., Inc. | 113,542 | 10,352 | |
STERIS plc | 13,130 | 2,707 | |
Thermo Fisher Scientific, Inc. | 11,569 | 6,285 | |
Veeva Systems, Inc. Class A(1) | 8,977 | 1,778 | |
41,243 | |||
Industrials—14.2% | |||
Carrier Global Corp. | 35,482 | 1,265 | |
Cintas Corp. | 4,428 | 1,654 | |
Copart, Inc.(1) | 12,231 | 1,329 | |
CSX Corp. | 100,262 | 2,914 | |
Cummins, Inc. | 23,267 | 4,503 | |
EMCOR Group, Inc. | 32,341 | 3,330 | |
Expeditors International of Washington, Inc. | 13,095 | 1,276 | |
Fair Isaac Corp.(1) | 3,114 | 1,248 | |
FedEx Corp. | 22,032 | 4,995 | |
Honeywell International, Inc. | 14,184 | 2,465 | |
Leidos Holdings, Inc. | 25,977 | 2,616 | |
Lockheed Martin Corp. | 6,086 | 2,617 | |
Mercury Systems, Inc.(1) | 32,412 | 2,085 | |
Norfolk Southern Corp. | 8,520 | 1,936 | |
Stanley Black & Decker, Inc. | 27,823 | 2,918 | |
Toro Co. (The) | 16,507 | 1,251 | |
TransUnion | 35,518 | 2,841 | |
41,243 | |||
Information Technology—17.2% | |||
Adobe, Inc. (1) | 7,210 | 2,639 | |
Apple, Inc. | 31,947 | 4,368 | |
Cisco Systems, Inc. | 58,654 | 2,501 | |
Fiserv, Inc.(1) | 9,755 | 868 | |
Global Payments, Inc. | 11,408 | 1,262 | |
Intel Corp. | 61,708 | 2,309 | |
KLA Corp. | 5,088 | 1,623 | |
Lam Research Corp. | 13,818 | 5,889 | |
Microsoft Corp. | 27,743 | 7,125 | |
QUALCOMM, Inc. | 21,509 | 2,748 | |
Roper Technologies, Inc. | 11,279 | 4,451 | |
Salesforce, Inc.(1) | 35,998 | 5,941 | |
Teledyne Technologies, Inc.(1) | 7,785 | 2,920 | |
Texas Instruments, Inc. | 27,348 | 4,202 | |
Visa, Inc. Class A | 5,944 | 1,170 | |
50,016 | |||
Materials—4.9% | |||
Avery Dennison Corp. | 7,880 | 1,276 | |
Ball Corp. | 32,300 | 2,221 | |
Celanese Corp. | 45,745 | 5,380 |
Shares | Value | ||
Materials—continued | |||
LyondellBasell Industries N.V. Class A | 29,660 | $ 2,594 | |
Royal Gold, Inc. | 27,292 | 2,914 | |
14,385 | |||
Real Estate—4.8% | |||
Alexandria Real Estate Equities, Inc. | 52,355 | 7,593 | |
Crown Castle International Corp. | 19,687 | 3,315 | |
Medical Properties Trust, Inc. | 197,162 | 3,011 | |
13,919 | |||
Utilities—3.0% | |||
NextEra Energy, Inc. | 84,963 | 6,581 | |
ONE Gas, Inc. | 25,980 | 2,109 | |
8,690 | |||
Total Common Stocks (Identified Cost $274,863) | 285,272 | ||
Total Long-Term Investments—98.1% (Identified Cost $274,863) | 285,272 | ||
Short-Term Investment—1.8% | |||
Money Market Mutual Fund—1.8% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 5,261,824 | 5,262 | |
Total Short-Term Investment (Identified Cost $5,262) | 5,262 | ||
TOTAL INVESTMENTS—99.9% (Identified Cost $280,125) | $290,534 | ||
Other assets and liabilities, net—0.1% | 420 | ||
NET ASSETS—100.0% | $290,954 |
Abbreviation: | |
S&P | Standard & Poor’s |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $285,272 | $285,272 | |
Money Market Mutual Fund | 5,262 | 5,262 | |
Total Investments | $290,534 | $290,534 |
Shares | Value | ||
Common Stocks—98.9% | |||
Communication Services—2.4% | |||
Cogent Communications Holdings, Inc. | 185,121 | $ 11,248 | |
Electronic Arts, Inc. | 92,115 | 11,206 | |
Paramount Global Class B | 189,445 | 4,675 | |
27,129 | |||
Consumer Discretionary—14.4% | |||
Best Buy Co., Inc. | 155,692 | 10,150 | |
Deckers Outdoor Corp.(1) | 48,933 | 12,495 | |
Domino’s Pizza, Inc. | 30,723 | 11,973 | |
DR Horton, Inc. | 196,692 | 13,019 | |
Fox Factory Holding Corp.(1) | 157,873 | 12,715 | |
Garmin Ltd. | 112,421 | 11,045 | |
Lowe’s Cos., Inc. | 58,578 | 10,232 | |
MDC Holdings, Inc. | 410,428 | 13,261 | |
Naspers Ltd. Sponsored ADR | 583,876 | 17,026 | |
Pool Corp. | 19,391 | 6,811 | |
PulteGroup, Inc. | 303,867 | 12,042 | |
TopBuild Corp.(1) | 56,612 | 9,463 | |
Whirlpool Corp. | 64,121 | 9,931 | |
Winnebago Industries, Inc. | 251,794 | 12,227 | |
162,390 | |||
Consumer Staples—1.0% | |||
Tyson Foods, Inc. Class A | 127,161 | 10,943 | |
Energy—2.1% | |||
Hess Corp. | 46,249 | 4,900 | |
ONEOK, Inc. | 178,853 | 9,926 | |
Phillips 66 | 110,387 | 9,051 | |
23,877 | |||
Financials—18.4% | |||
AGNC Investment Corp. | 1,063,738 | 11,776 | |
Broadridge Financial Solutions, Inc. | 55,256 | 7,877 | |
Citigroup, Inc. | 268,165 | 12,333 | |
Citizens Financial Group, Inc. | 331,823 | 11,843 | |
Equitable Holdings, Inc. | 415,651 | 10,836 | |
Fidelity National Financial, Inc. | 290,641 | 10,742 | |
First Interstate BancSystem, Inc. Class A | 482,405 | 18,384 | |
First Republic Bank | 118,149 | 17,037 | |
Gallagher (Arthur J.) & Co. | 60,131 | 9,804 | |
Globe Life, Inc. | 116,489 | 11,354 | |
Kinsale Capital Group, Inc. | 24,489 | 5,624 | |
MSCI, Inc. Class A | 28,042 | 11,557 | |
Nasdaq, Inc. | 52,319 | 7,981 |
Shares | Value | ||
Financials—continued | |||
New Residential Investment Corp. | 948,095 | $ 8,836 | |
Reinsurance Group of America, Inc. | 97,227 | 11,404 | |
State Street Corp. | 255,315 | 15,740 | |
T. Rowe Price Group, Inc. | 97,906 | 11,123 | |
Truist Financial Corp. | 265,307 | 12,583 | |
206,834 | |||
Health Care—12.2% | |||
Agilent Technologies, Inc. | 77,249 | 9,175 | |
Amgen, Inc. | 46,453 | 11,302 | |
Chemed Corp. | 19,339 | 9,077 | |
Humana, Inc. | 10,363 | 4,850 | |
IQVIA Holdings, Inc.(1) | 39,512 | 8,574 | |
Neogen Corp.(1) | 465,687 | 11,218 | |
Quest Diagnostics, Inc. | 72,116 | 9,590 | |
Repligen Corp.(1) | 61,982 | 10,066 | |
ResMed, Inc. | 49,649 | 10,408 | |
STERIS plc | 25,652 | 5,288 | |
Teleflex, Inc. | 67,577 | 16,614 | |
Veeva Systems, Inc. Class A(1) | 116,516 | 23,075 | |
West Pharmaceutical Services, Inc. | 28,593 | 8,646 | |
137,883 | |||
Industrials—19.9% | |||
AMETEK, Inc. | 80,791 | 8,878 | |
Carrier Global Corp. | 209,504 | 7,471 | |
Copart, Inc.(1) | 103,163 | 11,210 | |
Cummins, Inc. | 56,758 | 10,984 | |
Dover Corp. | 36,368 | 4,412 | |
EMCOR Group, Inc. | 111,941 | 11,525 | |
Fair Isaac Corp.(1) | 25,483 | 10,216 | |
FedEx Corp. | 60,870 | 13,800 | |
Graco, Inc. | 154,264 | 9,165 | |
ITT, Inc. | 173,096 | 11,639 | |
L3Harris Technologies, Inc. | 48,088 | 11,623 | |
Leidos Holdings, Inc. | 107,963 | 10,873 | |
Lennox International, Inc. | 55,452 | 11,456 | |
Masco Corp. | 229,990 | 11,637 | |
Mercury Systems, Inc.(1) | 120,590 | 7,758 | |
Norfolk Southern Corp. | 43,291 | 9,840 | |
Old Dominion Freight Line, Inc. | 23,535 | 6,031 | |
Stanley Black & Decker, Inc. | 211,617 | 22,190 | |
Toro Co. (The) | 150,035 | 11,371 | |
TransUnion | 146,813 | 11,744 | |
Trex Co., Inc.(1) | 196,816 | 10,711 | |
224,534 | |||
Shares | Value | ||
Information Technology—13.0% | |||
Cadence Design Systems, Inc.(1) | 64,220 | $ 9,635 | |
Global Payments, Inc. | 81,954 | 9,067 | |
Hewlett Packard Enterprise Co. | 726,128 | 9,628 | |
HP, Inc. | 303,333 | 9,943 | |
Jabil, Inc. | 108,721 | 5,568 | |
Keysight Technologies, Inc.(1) | 43,053 | 5,935 | |
Lam Research Corp. | 38,932 | 16,591 | |
Micron Technology, Inc. | 158,063 | 8,738 | |
Motorola Solutions, Inc. | 29,730 | 6,231 | |
Paycom Software, Inc.(1) | 43,242 | 12,113 | |
Roper Technologies, Inc. | 25,889 | 10,217 | |
Skyworks Solutions, Inc. | 117,406 | 10,877 | |
Synopsys, Inc.(1) | 33,006 | 10,024 | |
Teledyne Technologies, Inc.(1) | 26,210 | 9,832 | |
VeriSign, Inc.(1) | 72,039 | 12,054 | |
146,453 | |||
Materials—5.7% | |||
Avery Dennison Corp. | 72,028 | 11,659 | |
Ball Corp. | 150,597 | 10,356 | |
Celanese Corp. | 83,488 | 9,819 | |
LyondellBasell Industries N.V. Class A | 150,317 | 13,147 | |
POSCO Holdings, Inc. Sponsored ADR | 217,017 | 9,662 | |
Royal Gold, Inc. | 87,990 | 9,396 | |
64,039 | |||
Real Estate—7.1% | |||
Alexandria Real Estate Equities, Inc. | 163,366 | 23,693 | |
American Tower Corp. | 35,402 | 9,048 | |
Medical Properties Trust, Inc. | 731,777 | 11,174 | |
Realty Income Corp. | 86,874 | 5,930 | |
Sun Communities, Inc. | 60,794 | 9,688 | |
Vonovia SE ADR | 1,335,290 | 20,524 | |
80,057 | |||
Utilities—2.7% | |||
American Water Works Co., Inc. | 65,662 | 9,768 | |
Eversource Energy | 118,491 | 10,009 |
Shares | Value | ||
Utilities—continued | |||
NextEra Energy, Inc. | 140,895 | $ 10,914 | |
30,691 | |||
Total Common Stocks (Identified Cost $1,112,484) | 1,114,830 | ||
Total Long-Term Investments—98.9% (Identified Cost $1,112,484) | 1,114,830 | ||
Shares | Value | ||
Short-Term Investment—0.6% | |||
Money Market Mutual Fund—0.6% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 6,459,879 | $ 6,460 | |
Total Short-Term Investment (Identified Cost $6,460) | 6,460 | ||
TOTAL INVESTMENTS—99.5% (Identified Cost $1,118,944) | $1,121,290 | ||
Other assets and liabilities, net—0.5% | 5,826 | ||
NET ASSETS—100.0% | $1,127,116 |
Abbreviations: | |
ADR | American Depositary Receipt |
MSCI | Morgan Stanley Capital International |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 93% |
Germany | 2 |
South Africa | 2 |
Netherlands | 1 |
Switzerland | 1 |
South Korea | 1 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $1,114,830 | $1,114,830 | |
Money Market Mutual Fund | 6,460 | 6,460 | |
Total Investments | $1,121,290 | $1,121,290 |
Shares | Value | ||
Common Stocks—99.4% | |||
Communication Services—2.0% | |||
Cogeco Communications, Inc. | 51,094 | $ 3,456 | |
Cogent Communications Holdings, Inc. | 74,918 | 4,552 | |
8,008 | |||
Consumer Discretionary—15.3% | |||
Acushnet Holdings Corp. | 111,349 | 4,641 | |
Bright Horizons Family Solutions, Inc.(1) | 51,449 | 4,348 | |
Fox Factory Holding Corp.(1) | 60,312 | 4,858 | |
KB Home | 163,214 | 4,645 | |
La-Z-Boy, Inc. | 182,429 | 4,325 | |
Leslie’s, Inc.(1) | 126,032 | 1,913 | |
Malibu Boats, Inc. Class A(1) | 90,058 | 4,747 | |
MDC Holdings, Inc. | 145,475 | 4,700 | |
SiteOne Landscape Supply, Inc.(1) | 21,965 | 2,611 | |
Standard Motor Products, Inc. | 44,147 | 1,986 | |
TopBuild Corp.(1) | 22,999 | 3,845 | |
Wendy’s Co. (The) | 159,948 | 3,020 | |
Wingstop, Inc. | 29,942 | 2,239 | |
Winnebago Industries, Inc. | 95,798 | 4,652 | |
Wolverine World Wide, Inc. | 210,431 | 4,242 | |
YETI Holdings, Inc.(1) | 109,150 | 4,723 | |
61,495 | |||
Consumer Staples—2.8% | |||
Herbalife Nutrition Ltd.(1) | 204,988 | 4,192 | |
Nomad Foods Ltd.(1) | 124,366 | 2,486 | |
WD-40 Co. | 23,319 | 4,696 | |
11,374 | |||
Energy—1.9% | |||
HF Sinclair Corp. | 91,324 | 4,124 | |
Matador Resources Co. | 78,123 | 3,640 | |
7,764 | |||
Financials—30.8% | |||
AllianceBernstein Holding LP | 79,846 | 3,320 | |
Apollo Commercial Real Estate Finance, Inc. | 317,867 | 3,319 | |
Arbor Realty Trust, Inc. | 248,680 | 3,260 | |
Atlantic Union Bankshares Corp. | 100,837 | 3,420 | |
Bank of Hawaii Corp. | 27,472 | 2,044 | |
Bank of Marin Bancorp | 145,437 | 4,622 | |
Blackstone Mortgage Trust, Inc. Class A | 136,448 | 3,776 | |
CNO Financial Group, Inc. | 114,606 | 2,073 | |
Columbia Banking System, Inc. | 136,834 | 3,920 | |
Commerce Bancshares, Inc. | 31,487 | 2,067 | |
Community Bank System, Inc. | 87,966 | 5,566 |
Shares | Value | ||
Financials—continued | |||
Compass Diversified Holdings | 75,225 | $ 1,611 | |
Enterprise Financial Services Corp. | 97,992 | 4,067 | |
Essent Group Ltd. | 114,121 | 4,439 | |
Federal Agricultural Mortgage Corp. Class C | 15,493 | 1,513 | |
First American Financial Corp. | 74,581 | 3,947 | |
First Citizens BancShares, Inc. Class A | 3,463 | 2,264 | |
First Interstate BancSystem, Inc. Class A | 125,636 | 4,788 | |
Glacier Bancorp, Inc. | 91,116 | 4,321 | |
Globe Life, Inc. | 42,391 | 4,132 | |
Hamilton Lane, Inc. Class A | 60,410 | 4,058 | |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 103,654 | 3,924 | |
Houlihan Lokey, Inc. Class A | 45,493 | 3,591 | |
Independent Bank Corp. | 49,541 | 3,935 | |
Kinsale Capital Group, Inc. | 18,634 | 4,279 | |
Meta Financial Group, Inc. | 109,851 | 4,248 | |
Old Republic International Corp. | 172,808 | 3,864 | |
PennyMac Financial Services, Inc. | 42,689 | 1,866 | |
Primerica, Inc. | 16,298 | 1,951 | |
PROG Holdings, Inc.(1) | 51,018 | 842 | |
Radian Group, Inc. | 190,662 | 3,746 | |
Selective Insurance Group, Inc. | 51,111 | 4,444 | |
SouthState Corp. | 28,274 | 2,181 | |
Stifel Financial Corp. | 52,408 | 2,936 | |
United Community Banks, Inc. | 110,552 | 3,338 | |
Valley National Bancorp | 307,695 | 3,203 | |
Walker & Dunlop, Inc. | 35,821 | 3,451 | |
124,326 | |||
Health Care—4.9% | |||
Addus HomeCare Corp.(1) | 47,206 | 3,931 | |
CONMED Corp. | 23,851 | 2,284 | |
Encompass Health Corp. | 46,859 | 2,626 | |
Ensign Group, Inc. (The) | 33,239 | 2,442 | |
Medpace Holdings, Inc.(1) | 28,362 | 4,245 | |
Neogen Corp.(1) | 178,481 | 4,300 | |
19,828 | |||
Industrials—18.7% | |||
ABM Industries, Inc. | 45,841 | 1,990 | |
Allegiant Travel Co.(1) | 35,297 | 3,992 | |
Brady Corp. Class A | 94,513 | 4,465 | |
CBIZ, Inc.(1) | 47,846 | 1,912 | |
Curtiss-Wright Corp. | 15,256 | 2,015 | |
Douglas Dynamics, Inc. | 142,047 | 4,082 | |
EMCOR Group, Inc. | 40,935 | 4,215 | |
Exponent, Inc. | 40,219 | 3,679 | |
Federal Signal Corp. | 56,485 | 2,011 |
Shares | Value | ||
Industrials—continued | |||
Hillenbrand, Inc. | 56,280 | $ 2,305 | |
ITT, Inc. | 61,085 | 4,107 | |
Lennox International, Inc. | 19,691 | 4,068 | |
McGrath RentCorp | 26,169 | 1,989 | |
Mercury Systems, Inc.(1) | 52,518 | 3,378 | |
MSA Safety, Inc. | 17,686 | 2,141 | |
Simpson Manufacturing Co., Inc. | 21,962 | 2,210 | |
SkyWest, Inc.(1) | 79,255 | 1,684 | |
SPX Corp.(1) | 43,577 | 2,303 | |
Tetra Tech, Inc. | 17,341 | 2,368 | |
Toro Co. (The) | 55,214 | 4,185 | |
Trex Co., Inc.(1) | 45,993 | 2,503 | |
Triton International Ltd. | 30,758 | 1,619 | |
UFP Industries, Inc. | 43,316 | 2,951 | |
Watts Water Technologies, Inc. Class A | 33,577 | 4,125 | |
Werner Enterprises, Inc. | 129,387 | 4,987 | |
75,284 | |||
Information Technology—12.0% | |||
AudioCodes Ltd. | 182,247 | 4,017 | |
Cirrus Logic, Inc.(1) | 25,553 | 1,854 | |
Cognex Corp. | 93,108 | 3,959 | |
Diodes, Inc.(1) | 69,951 | 4,517 | |
ePlus, Inc.(1) | 39,728 | 2,110 | |
Fabrinet (1) | 43,984 | 3,567 | |
FormFactor, Inc.(1) | 103,647 | 4,014 | |
Jabil, Inc. | 74,469 | 3,813 | |
Methode Electronics, Inc. | 83,234 | 3,083 | |
MKS Instruments, Inc. | 43,386 | 4,453 | |
Progress Software Corp. | 36,746 | 1,665 | |
Sapiens International Corp. N.V. | 187,817 | 4,543 | |
SMART Global Holdings, Inc.(1) | 176,832 | 2,895 | |
SPS Commerce, Inc.(1) | 34,236 | 3,870 | |
48,360 | |||
Materials—5.2% | |||
Glatfelter Corp. | 561,552 | 3,863 | |
Kaiser Aluminum Corp. | 27,785 | 2,198 | |
Royal Gold, Inc. | 23,077 | 2,464 | |
Silgan Holdings, Inc. | 95,591 | 3,953 | |
Sonoco Products Co. | 68,579 | 3,912 | |
Stepan Co. | 46,299 | 4,692 | |
21,082 | |||
Real Estate—4.6% | |||
Agree Realty Corp. | 56,655 | 4,087 | |
Hudson Pacific Properties, Inc. | 247,261 | 3,669 | |
Industrial Logistics Properties Trust | 300,487 | 4,231 | |
Rexford Industrial Realty, Inc. | 29,585 | 1,704 | |
STAG Industrial, Inc. | 99,018 | 3,058 |
Shares | Value | ||
Real Estate—continued | |||
Terreno Realty Corp. | 33,257 | $ 1,853 | |
18,602 | |||
Utilities—1.2% | |||
American States Water Co. | 30,685 | 2,501 | |
California Water Service Group | 43,785 | 2,432 | |
4,933 | |||
Total Common Stocks (Identified Cost $385,994) | 401,056 | ||
Exchange-Traded Fund—0.5% | |||
Invesco S&P 500 Equal Weight ETF(2) | 15,790 | 2,120 | |
Total Exchange-Traded Fund (Identified Cost $2,206) | 2,120 | ||
Total Long-Term Investments—99.9% (Identified Cost $388,200) | 403,176 | ||
Shares | Value | ||
Short-Term Investment—0.8% | |||
Money Market Mutual Fund—0.8% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 3,285,319 | $ 3,285 | |
Total Short-Term Investment (Identified Cost $3,285) | 3,285 | ||
TOTAL INVESTMENTS—100.7% (Identified Cost $391,485) | $406,461 | ||
Other assets and liabilities, net—(0.7)% | (2,985) | ||
NET ASSETS—100.0% | $403,476 |
Abbreviations: | |
ETF | Exchange-Traded Fund |
LP | Limited Partnership |
S&P | Standard & Poor’s |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 94% |
Israel | 2 |
Bermuda | 1 |
Cayman Islands | 1 |
Canada | 1 |
Virgin Islands (British) | 1 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $401,056 | $401,056 | |
Exchange-Traded Fund | 2,120 | 2,120 | |
Money Market Mutual Fund | 3,285 | 3,285 | |
Total Investments | $406,461 | $406,461 |
Shares | Value | ||
Common Stocks—99.1% | |||
Aerospace & Defense—1.0% | |||
Axon Enterprise, Inc.(1) | 6,964 | $ 649 | |
Curtiss-Wright Corp. | 2,341 | 309 | |
HEICO Corp. | 2,536 | 333 | |
1,291 | |||
Air Freight & Logistics—0.6% | |||
Hub Group, Inc. Class A(1) | 11,400 | 809 | |
Auto Components—0.2% | |||
LCI Industries | 2,341 | 262 | |
Banks—8.4% | |||
American National Bankshares, Inc. | 3,300 | 114 | |
Banc of California, Inc. | 31,231 | 550 | |
Bancorp, Inc. (The)(1) | 4,100 | 80 | |
Byline Bancorp, Inc. | 28,600 | 681 | |
Cathay General Bancorp | 31,000 | 1,214 | |
Central Pacific Financial Corp. | 12,692 | 272 | |
Citizens Financial Group, Inc. | 12,461 | 445 | |
ConnectOne Bancorp, Inc. | 3,800 | 93 | |
Customers Bancorp, Inc.(1) | 1,800 | 61 | |
First Financial Bankshares, Inc. | 8,717 | 342 | |
First Foundation, Inc. | 3,187 | 65 | |
Glacier Bancorp, Inc. | 6,716 | 319 | |
Hancock Whitney Corp. | 19,408 | 860 | |
Hanmi Financial Corp. | 4,600 | 103 | |
HomeStreet, Inc. | 2,500 | 87 | |
Hope Bancorp, Inc. | 54,192 | 750 | |
Independent Bank Corp. | 748 | 59 | |
MidWestOne Financial Group, Inc. | 3,700 | 110 | |
Northrim BanCorp, Inc. | 2,900 | 117 | |
PacWest Bancorp | 22,463 | 599 | |
PCB Bancorp | 7,200 | 135 | |
Pinnacle Financial Partners, Inc. | 4,307 | 311 | |
Preferred Bank | 13,532 | 921 | |
Premier Financial Corp. | 1,864 | 47 | |
QCR Holdings, Inc. | 2,400 | 130 | |
Sandy Spring Bancorp, Inc. | 9,466 | 370 | |
SouthState Corp. | 5,618 | 433 | |
United Bankshares, Inc. | 7,677 | 269 | |
Valley National Bancorp | 32,948 | 343 | |
Washington Federal, Inc. | 50,800 | 1,525 | |
11,405 | |||
Beverages—1.4% | |||
Coca-Cola Consolidated, Inc. | 3,350 | 1,889 | |
Biotechnology—4.5% | |||
Arrowhead Pharmaceuticals, Inc.(1) | 5,835 | 206 | |
Avita Medical, Inc.(1) | 17,650 | 84 |
Shares | Value | ||
Biotechnology—continued | |||
Bicycle Therapeutics plc ADR(1) | 3,185 | $ 53 | |
BioCryst Pharmaceuticals, Inc.(1) | 50,134 | 530 | |
Biohaven Pharmaceutical Holding Co. Ltd.(1) | 1,847 | 269 | |
Blueprint Medicines Corp.(1) | 8,624 | 436 | |
Cytokinetics, Inc.(1) | 15,967 | 627 | |
Design Therapeutics, Inc.(1) | 14,806 | 207 | |
Dynavax Technologies Corp.(1) | 9,811 | 124 | |
Eagle Pharmaceuticals, Inc.(1) | 7,766 | 345 | |
Fate Therapeutics, Inc.(1) | 5,107 | 127 | |
Halozyme Therapeutics, Inc.(1) | 5,167 | 227 | |
Horizon Therapeutics plc(1) | 2,181 | 174 | |
Insmed, Inc.(1) | 27,965 | 552 | |
Intellia Therapeutics, Inc.(1) | 5,629 | 291 | |
Intercept Pharmaceuticals, Inc.(1) | 7,300 | 101 | |
IVERIC bio, Inc.(1) | 29,167 | 281 | |
Keros Therapeutics, Inc.(1) | 13,293 | 367 | |
Krystal Biotech, Inc.(1) | 2,376 | 156 | |
Monte Rosa Therapeutics, Inc.(1) | 23,522 | 228 | |
Neurocrine Biosciences, Inc.(1) | 1,420 | 138 | |
Novavax, Inc.(1) | 1,615 | 83 | |
SpringWorks Therapeutics, Inc.(1) | 2,852 | 70 | |
Travere Therapeutics, Inc.(1) | 2,558 | 62 | |
Xencor, Inc.(1) | 11,186 | 306 | |
6,044 | |||
Building Products—0.3% | |||
CSW Industrials, Inc. | 531 | 55 | |
UFP Industries, Inc. | 5,400 | 368 | |
423 | |||
Capital Markets—2.9% | |||
AllianceBernstein Holding LP | 18,122 | 754 | |
Barings BDC, Inc. | 30,127 | 280 | |
Evercore, Inc. Class A | 6,076 | 569 | |
Freedom Holding Corp. N.V.(1) | 6,196 | 275 | |
Golub Capital BDC, Inc. | 43,534 | 564 | |
Greenhill & Co., Inc. | 6,700 | 62 | |
Hercules Capital, Inc. | 26,320 | 355 | |
LPL Financial Holdings, Inc. | 1,931 | 356 | |
Main Street Capital Corp. | 7,350 | 283 | |
PJT Partners, Inc. Class A | 6,138 | 431 | |
Raymond James Financial, Inc. | 468 | 42 | |
3,971 | |||
Shares | Value | ||
Chemicals—1.1% | |||
AdvanSix, Inc. | 3,400 | $ 114 | |
Balchem Corp. | 2,387 | 309 | |
HB Fuller Co. | 10,166 | 612 | |
Trinseo plc | 11,227 | 432 | |
1,467 | |||
Commercial Services & Supplies—1.1% | |||
Casella Waste Systems, Inc. Class A(1) | 7,405 | 538 | |
Clean Harbors, Inc.(1) | 7,507 | 658 | |
Tetra Tech, Inc. | 2,243 | 307 | |
1,503 | |||
Communications Equipment—0.1% | |||
Digi International, Inc.(1) | 6,300 | 153 | |
Construction & Engineering—1.3% | |||
API Group Corp.(1) | 34,692 | 519 | |
Construction Partners, Inc. Class A(1) | 2,516 | 53 | |
EMCOR Group, Inc. | 5,063 | 521 | |
MasTec, Inc.(1) | 4,354 | 312 | |
MYR Group, Inc.(1) | 1,300 | 115 | |
NV5 Global, Inc.(1) | 805 | 94 | |
Sterling Infrastructure, Inc.(1) | 3,874 | 85 | |
1,699 | |||
Consumer Finance—0.1% | |||
LendingClub Corp.(1) | 12,786 | 149 | |
Containers & Packaging—1.4% | |||
Graphic Packaging Holding Co. | 62,570 | 1,283 | |
Silgan Holdings, Inc. | 16,071 | 664 | |
1,947 | |||
Diversified Consumer Services—0.8% | |||
Bright Horizons Family Solutions, Inc.(1) | 3,325 | 281 | |
Carriage Services, Inc. | 11,210 | 445 | |
Grand Canyon Education, Inc.(1) | 4,311 | 406 | |
1,132 | |||
Diversified Telecommunication Services—0.2% | |||
Cogent Communications Holdings, Inc. | 3,591 | 218 | |
Electric Utilities—3.3% | |||
ALLETE, Inc. | 9,920 | 583 | |
Hawaiian Electric Industries, Inc. | 16,781 | 686 | |
IDACORP, Inc. | 6,571 | 696 | |
Otter Tail Corp. | 11,142 | 748 |
Shares | Value | ||
Electric Utilities—continued | |||
Portland General Electric Co. | 36,552 | $ 1,767 | |
4,480 | |||
Electrical Equipment—0.5% | |||
Atkore, Inc.(1) | 9,000 | 747 | |
Electronic Equipment, Instruments & Components—2.4% | |||
Belden, Inc. | 26,700 | 1,422 | |
II-VI, Inc.(1) | 5,486 | 280 | |
Napco Security Technologies, Inc.(1) | 4,882 | 101 | |
OSI Systems, Inc.(1) | 5,492 | 469 | |
Sanmina Corp.(1) | 23,939 | 975 | |
3,247 | |||
Energy Equipment & Services—0.2% | |||
ChampionX Corp. | 12,815 | 254 | |
Entertainment—1.0% | |||
Liberty Media Corp-Liberty Formula One Class A(1) | 12,654 | 734 | |
Madison Square Garden Sports Corp. Class A(1) | 3,479 | 525 | |
Marcus Corp. (The)(1) | 6,800 | 100 | |
1,359 | |||
Equity Real Estate Investment—2.0% | |||
Armada Hoffler Properties, Inc. | 36,600 | 470 | |
CareTrust REIT, Inc. | 9,758 | 180 | |
First Industrial Realty Trust, Inc. | 7,841 | 372 | |
Gladstone Commercial Corp. | 5,500 | 104 | |
Industrial Logistics Properties Trust | 30,035 | 423 | |
NexPoint Residential Trust, Inc. | 1,506 | 94 | |
Pebblebrook Hotel Trust | 13,283 | 220 | |
Physicians Realty Trust | 25,808 | 450 | |
Terreno Realty Corp. | 7,267 | 405 | |
2,718 | |||
Food & Staples Retailing—2.1% | |||
BJ’s Wholesale Club Holdings, Inc.(1) | 9,545 | 595 | |
Casey’s General Stores, Inc. | 2,838 | 525 | |
Grocery Outlet Holding Corp.(1) | 13,368 | 570 | |
Ingles Markets, Inc. Class A | 5,320 | 461 | |
PriceSmart, Inc. | 4,384 | 314 | |
Weis Markets, Inc. | 5,592 | 417 | |
2,882 | |||
Food Products—3.9% | |||
Calavo Growers, Inc. | 4,918 | 205 | |
Cal-Maine Foods, Inc. | 12,963 | 640 | |
Flowers Foods, Inc. | 26,502 | 698 |
Shares | Value | ||
Food Products—continued | |||
Hain Celestial Group, Inc. (The)(1) | 14,441 | $ 343 | |
Hostess Brands, Inc.(1) | 33,667 | 714 | |
J & J Snack Foods Corp. | 4,215 | 589 | |
John B Sanfilippo & Son, Inc. | 8,923 | 647 | |
Lancaster Colony Corp. | 3,962 | 510 | |
Local Bounti Corp.(1) | 64,216 | 204 | |
S&W Seed Co.(1) | 113,588 | 115 | |
Sanderson Farms, Inc. | 2,184 | 471 | |
Tootsie Roll Industries, Inc. | 4,338 | 153 | |
5,289 | |||
Gas Utilities—0.6% | |||
ONE Gas, Inc. | 10,472 | 850 | |
Healthcare Equipment & Supplies—4.3% | |||
Axonics, Inc.(1) | 10,773 | 611 | |
CONMED Corp. | 4,519 | 433 | |
Cutera, Inc.(1) | 4,000 | 150 | |
Envista Holdings Corp.(1) | 16,251 | 626 | |
Establishment Labs Holdings, Inc.(1) | 12,126 | 659 | |
Globus Medical, Inc. Class A(1) | 5,507 | 309 | |
Inari Medical, Inc.(1) | 6,665 | 453 | |
Lantheus Holdings, Inc.(1) | 1,690 | 112 | |
LivaNova plc(1) | 3,743 | 234 | |
Meridian Bioscience, Inc.(1) | 9,085 | 276 | |
Merit Medical Systems, Inc.(1) | 9,613 | 522 | |
Omnicell, Inc.(1) | 1,979 | 225 | |
OrthoPediatrics Corp.(1) | 1,707 | 74 | |
Penumbra, Inc.(1) | 2,297 | 286 | |
Shockwave Medical, Inc.(1) | 2,671 | 511 | |
Silk Road Medical, Inc.(1) | 1,955 | 71 | |
Surmodics, Inc.(1) | 1,081 | 40 | |
Tandem Diabetes Care, Inc.(1) | 2,962 | 175 | |
5,767 | |||
Healthcare Providers & Services—2.5% | |||
Chemed Corp. | 1,241 | 582 | |
Cross Country Healthcare, Inc.(1) | 10,886 | 227 | |
Encompass Health Corp. | 5,386 | 302 | |
Owens & Minor, Inc. | 15,746 | 495 | |
R1 RCM, Inc.(1) | 11,308 | 237 | |
Tenet Healthcare Corp.(1) | 28,095 | 1,477 | |
3,320 | |||
Healthcare Technology—0.7% | |||
Inspire Medical Systems, Inc.(1) | 1,405 | 257 | |
NextGen Healthcare, Inc.(1) | 41,000 | 715 | |
972 | |||
Shares | Value | ||
Hotels, Restaurants & Leisure—2.5% | |||
Bluegreen Vacations Holding Corp. | 4,200 | $ 105 | |
Boyd Gaming Corp. | 12,520 | 623 | |
Everi Holdings, Inc.(1) | 6,358 | 104 | |
Hilton Grand Vacations, Inc.(1) | 13,300 | 475 | |
Hyatt Hotels Corp. Class A(1) | 5,958 | 440 | |
Lindblad Expeditions Holdings, Inc.(1) | 23,776 | 193 | |
Planet Fitness, Inc. Class A(1) | 7,975 | 542 | |
Red Rock Resorts, Inc. Class A | 25,588 | 854 | |
3,336 | |||
Household Durables—0.5% | |||
La-Z-Boy, Inc. | 9,850 | 234 | |
Lennar Corp. Class B | 7,721 | 453 | |
687 | |||
Household Products—0.4% | |||
WD-40 Co. | 2,594 | 522 | |
Insurance—3.5% | |||
AMERISAFE, Inc. | 7,073 | 368 | |
Donegal Group, Inc. Class A | 28,992 | 494 | |
Employers Holdings, Inc. | 7,747 | 324 | |
Enstar Group Ltd.(1) | 1,330 | 284 | |
Genworth Financial, Inc. Class A(1) | 213,200 | 753 | |
NI Holdings, Inc.(1) | 9,776 | 161 | |
RLI Corp. | 5,043 | 588 | |
Safety Insurance Group, Inc. | 7,927 | 770 | |
Stewart Information Services Corp. | 20,100 | 1,000 | |
4,742 | |||
IT Services—1.8% | |||
ExlService Holdings, Inc.(1) | 11,800 | 1,739 | |
Hackett Group, Inc. (The) | 2,730 | 52 | |
Perficient, Inc.(1) | 7,072 | 648 | |
2,439 | |||
Leisure Products—0.3% | |||
Acushnet Holdings Corp. | 10,344 | 431 | |
Life Sciences Tools & Services—0.6% | |||
Medpace Holdings, Inc.(1) | 1,175 | 176 | |
West Pharmaceutical Services, Inc. | 2,075 | 627 | |
803 | |||
Machinery—1.5% | |||
AGCO Corp. | 1,550 | 153 | |
Chart Industries, Inc.(1) | 4,351 | 728 | |
Columbus McKinnon Corp. | 1,161 | 33 | |
Desktop Metal, Inc. Class A(1) | 231,956 | 511 | |
ITT, Inc. | 4,540 | 305 |
Shares | Value | ||
Machinery—continued | |||
Terex Corp. | 9,019 | $ 247 | |
1,977 | |||
Marine—0.4% | |||
Genco Shipping & Trading Ltd. | 9,127 | 176 | |
Matson, Inc. | 5,164 | 377 | |
553 | |||
Media—1.4% | |||
Cable One, Inc. | 365 | 470 | |
Gannett Co., Inc.(1) | 20,900 | 61 | |
Liberty Broadband Corp. Class A(1) | 5,100 | 579 | |
WideOpenWest, Inc.(1) | 43,646 | 795 | |
1,905 | |||
Metals & Mining—2.8% | |||
Allegheny Technologies, Inc.(1) | 6,576 | 149 | |
Alpha Metallurgical Resources, Inc. | 1,800 | 233 | |
Commercial Metals Co. | 51,700 | 1,711 | |
MP Materials Corp.(1) | 13,228 | 424 | |
Royal Gold, Inc. | 1,909 | 204 | |
TimkenSteel Corp.(1) | 8,700 | 163 | |
Warrior Met Coal, Inc. | 31,700 | 970 | |
3,854 | |||
Multiline Retail—0.7% | |||
Macy’s, Inc. | 50,064 | 917 | |
Multi-Utilities—1.5% | |||
Avista Corp. | 16,168 | 703 | |
Black Hills Corp. | 9,273 | 675 | |
Unitil Corp. | 10,131 | 595 | |
1,973 | |||
Oil, Gas & Consumable Fuels—5.6% | |||
Civitas Resources, Inc. | 7,856 | 411 | |
Coterra Energy, Inc. | 33,199 | 856 | |
Dorian LPG Ltd. | 12,787 | 194 | |
Enviva, Inc. | 2,171 | 124 | |
Hess Midstream LP Class A | 20,266 | 568 | |
Magnolia Oil & Gas Corp. Class A | 73,688 | 1,547 | |
Nabors Industries Ltd.(1) | 1,000 | 134 | |
Northern Oil and Gas, Inc. | 11,304 | 286 | |
Ovintiv, Inc. | 25,283 | 1,117 | |
PDC Energy, Inc. | 6,206 | 382 | |
Ranger Oil Corp. Class A(1) | 24,201 | 796 | |
Whiting Petroleum Corp. | 18,100 | 1,231 | |
7,646 | |||
Paper & Forest Products—0.6% | |||
Louisiana-Pacific Corp. | 14,774 | 774 |
Shares | Value | ||
Personal Products—2.0% | |||
Beauty Health Co. (The)(1) | 26,562 | $ 342 | |
BellRing Brands, Inc.(1) | 29,908 | 744 | |
Coty, Inc. Class A(1) | 77,840 | 623 | |
Medifast, Inc. | 2,159 | 390 | |
Nu Skin Enterprises, Inc. Class A | 6,620 | 287 | |
USANA Health Sciences, Inc.(1) | 5,063 | 366 | |
2,752 | |||
Pharmaceuticals—2.4% | |||
Alpha Teknova, Inc.(1) | 18,031 | 151 | |
Amphastar Pharmaceuticals, Inc.(1) | 2,148 | 75 | |
ATAI Life Sciences NV(1) | 39,223 | 143 | |
Catalent, Inc.(1) | 4,505 | 483 | |
Collegium Pharmaceutical, Inc.(1) | 6,576 | 116 | |
Phibro Animal Health Corp. Class A | 6,000 | 115 | |
Prestige Consumer Healthcare, Inc.(1) | 36,643 | 2,155 | |
3,238 | |||
Professional Services—3.2% | |||
ASGN, Inc.(1) | 13,584 | 1,226 | |
CRA International, Inc. | 1,059 | 95 | |
Franklin Covey Co.(1) | 1,156 | 53 | |
Heidrick & Struggles International, Inc. | 18,448 | 597 | |
ICF International, Inc. | 8,476 | 805 | |
Kforce, Inc. | 13,810 | 847 | |
ManTech International Corp. Class A | 4,232 | 404 | |
Science Applications International Corp. | 3,415 | 318 | |
4,345 | |||
Real Estate Management & Development—1.7% | |||
Cushman & Wakefield plc(1) | 75,300 | 1,148 | |
Kennedy-Wilson Holdings, Inc. | 59,400 | 1,125 | |
2,273 | |||
Road & Rail—0.8% | |||
Ryder System, Inc. | 8,400 | 597 | |
Saia, Inc.(1) | 1,434 | 269 | |
USA Truck, Inc.(1) | 5,400 | 170 | |
1,036 | |||
Semiconductors & Semiconductor Equipment—3.4% | |||
Alpha & Omega Semiconductor Ltd.(1) | 2,800 | 93 | |
Amkor Technology, Inc. | 27,989 | 474 | |
Axcelis Technologies, Inc.(1) | 24,201 | 1,327 | |
FormFactor, Inc.(1) | 1,906 | 74 |
Shares | Value | ||
Semiconductors & Semiconductor Equipment—continued | |||
Impinj, Inc.(1) | 1,400 | $ 82 | |
Kulicke & Soffa Industries, Inc. | 7,849 | 336 | |
MACOM Technology Solutions Holdings, Inc.(1) | 14,719 | 679 | |
MaxLinear, Inc.(1) | 13,323 | 453 | |
Onto Innovation, Inc.(1) | 6,107 | 426 | |
SunPower Corp.(1) | 22,608 | 357 | |
Ultra Clean Holdings, Inc.(1) | 10,331 | 308 | |
4,609 | |||
Software—3.0% | |||
Agilysys, Inc.(1) | 2,263 | 107 | |
Box, Inc. Class A(1) | 19,785 | 497 | |
New Relic, Inc.(1) | 11,084 | 555 | |
Paylocity Holding Corp.(1) | 3,105 | 542 | |
Smartsheet, Inc. Class A(1) | 12,499 | 393 | |
Tenable Holdings, Inc.(1) | 6,940 | 315 | |
Varonis Systems, Inc.(1) | 56,413 | 1,654 | |
4,063 | |||
Specialty Retail—1.7% | |||
Asbury Automotive Group, Inc.(1) | 2,353 | 398 | |
Camping World Holdings, Inc. Class A | 15,804 | 341 | |
Dick’s Sporting Goods, Inc. | 8,408 | 634 | |
Genesco, Inc.(1) | 17,763 | 887 | |
2,260 | |||
Technology Hardware, Storage & Peripherals—0.1% | |||
Avid Technology, Inc.(1) | 4,100 | 106 | |
Textiles, Apparel & Luxury Goods—0.9% | |||
Capri Holdings Ltd.(1) | 12,434 | 510 | |
Movado Group, Inc. | 3,100 | 96 | |
Oxford Industries, Inc. | 7,250 | 643 | |
1,249 | |||
Thrifts & Mortgage Finance—1.5% | |||
Capitol Federal Financial, Inc. | 70,351 | 646 | |
Home Bancorp, Inc. | 3,100 | 106 | |
Merchants Bancorp | 4,200 | 95 | |
PCSB Financial Corp. | 35,917 | 685 | |
Waterstone Financial, Inc. | 31,009 | 529 | |
2,061 | |||
Trading Companies & Distributors—3.4% | |||
Boise Cascade Co. | 14,503 | 863 | |
GMS, Inc.(1) | 26,154 | 1,164 | |
MRC Global, Inc.(1) | 81,500 | 812 |
Shares | Value | ||
Trading Companies & Distributors—continued | |||
Rush Enterprises, Inc. Class A | 20,975 | $ 1,011 | |
WESCO International, Inc.(1) | 6,804 | 728 | |
4,578 | |||
Water Utilities—2.0% | |||
American States Water Co. | 16,574 | 1,351 | |
California Water Service Group | 12,983 | 721 | |
SJW Group | 9,184 | 573 | |
2,645 | |||
Total Common Stocks (Identified Cost $134,048) | 134,021 | ||
Shares | Value | ||
Master Limited Partnerships and Related Companies—0.2% | |||
Downstream/Other—0.2% | |||
Sunoco LP | 5,903 | $ 220 | |
Total Master Limited Partnerships and Related Companies (Identified Cost $160) | 220 | ||
Total Long-Term Investments—99.3% (Identified Cost $134,208) | 134,241 | ||
Short-Term Investment—1.2% | |||
Money Market Mutual Fund—1.2% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 1,681,188 | 1,681 | |
Total Short-Term Investment (Identified Cost $1,681) | 1,681 | ||
TOTAL INVESTMENTS—100.5% (Identified Cost $135,889) | $135,922 | ||
Other assets and liabilities, net—(0.5)% | (685) | ||
NET ASSETS—100.0% | $135,237 |
Abbreviations: | |
ADR | American Depositary Receipt |
LP | Limited Partnership |
REIT | Real Estate Investment Trust |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $134,021 | $134,021 | |
Master Limited Partnerships and Related Companies | 220 | 220 | |
Money Market Mutual Fund | 1,681 | 1,681 | |
Total Investments | $135,922 | $135,922 |
Shares | Value | ||
Common Stocks—89.6% | |||
Automobiles—1.3% | |||
Tesla, Inc.(1) | 25,950 | $ 17,475 | |
Communications Equipment—1.0% | |||
Arista Networks, Inc.(1) | 43,650 | 4,092 | |
F5, Inc.(1) | 60,095 | 9,197 | |
13,289 | |||
Electrical Equipment—0.0% | |||
Bloom Energy Corp. Class A(1) | 1,790 | 30 | |
Electronic Equipment, Instruments & Components—0.9% | |||
Flex Ltd.(1) | 820,330 | 11,870 | |
Samsung SDI Co., Ltd. | 1,420 | 582 | |
12,452 | |||
Hotels, Restaurants & Leisure—0.8% | |||
Booking Holdings, Inc.(1) | 6,075 | 10,625 | |
Interactive Media & Services—11.8% | |||
Alphabet, Inc. Class C(1) | 58,350 | 127,638 | |
Meta Platforms, Inc. Class A(1) | 151,485 | 24,427 | |
ZoomInfo Technologies, Inc. Class A(1) | 145,165 | 4,825 | |
156,890 | |||
Internet & Direct Marketing Retail—3.6% | |||
Amazon.com, Inc.(1) | 452,585 | 48,069 | |
IT Services—13.0% | |||
Automatic Data Processing, Inc. | 9,915 | 2,082 | |
Block, Inc. Class A(1) | 29,515 | 1,814 | |
DXC Technology Co.(1) | 744,965 | 22,580 | |
Fidelity National Information Services, Inc. | 87,665 | 8,036 | |
Fiserv, Inc.(1) | 89,005 | 7,919 | |
Global Payments, Inc. | 66,245 | 7,329 | |
Mastercard, Inc. Class A | 121,380 | 38,293 | |
MongoDB, Inc. Class A(1) | 132,355 | 34,346 | |
Okta, Inc. Class A(1) | 101,080 | 9,138 | |
PayPal Holdings, Inc.(1) | 70,700 | 4,938 | |
Snowflake, Inc. Class A(1) | 33,334 | 4,635 | |
Visa, Inc. Class A | 158,970 | 31,300 | |
172,410 | |||
Media—0.7% | |||
Comcast Corp. Class A | 244,775 | 9,605 |
Shares | Value | ||
Oil, Gas & Consumable Fuels—0.2% | |||
Occidental Petroleum Corp. | 33,125 | $ 1,950 | |
Road & Rail—0.6% | |||
Lyft, Inc. Class A(1) | 279,900 | 3,717 | |
Uber Technologies, Inc.(1) | 182,655 | 3,737 | |
7,454 | |||
Semiconductors & Semiconductor Equipment—17.4% | |||
Advanced Micro Devices, Inc.(1) | 61,745 | 4,722 | |
Analog Devices, Inc. | 16,970 | 2,479 | |
Applied Materials, Inc. | 74,785 | 6,804 | |
ASML Holding N.V. Registered Shares | 1,340 | 638 | |
Broadcom, Inc. | 72,380 | 35,163 | |
Infineon Technologies AG | 463,900 | 11,225 | |
KLA Corp. | 28,570 | 9,116 | |
Lam Research Corp. | 2,400 | 1,023 | |
Marvell Technology, Inc. | 391,265 | 17,032 | |
Microchip Technology, Inc. | 83,325 | 4,839 | |
Micron Technology, Inc. | 296,450 | 16,388 | |
Monolithic Power Systems, Inc. | 760 | 292 | |
NVIDIA Corp. | 196,185 | 29,740 | |
NXP Semiconductors N.V. | 91,125 | 13,489 | |
ON Semiconductor Corp.(1) | 654,275 | 32,916 | |
SK Hynix, Inc. | 146,287 | 10,253 | |
STMicroelectronics N.V. | 156,810 | 4,930 | |
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR | 331,050 | 27,063 | |
Tokyo Electron Ltd. | 11,400 | 3,722 | |
231,834 | |||
Software—29.5% | |||
Altair Engineering, Inc. Class A(1) | 40,880 | 2,146 | |
Alteryx, Inc. Class A(1) | 180,653 | 8,747 | |
Aspen Technology, Inc.(1) | 123,306 | 22,649 | |
Atlassian Corp. plc Class A(1) | 48,145 | 9,023 | |
Box, Inc. Class A(1) | 249,735 | 6,278 | |
Crowdstrike Holdings, Inc. Class A(1) | 251,490 | 42,391 | |
Datadog, Inc. Class A(1) | 185,695 | 17,686 | |
Fortinet, Inc.(1) | 361,660 | 20,463 | |
KnowBe4, Inc. Class A(1) | 385,955 | 6,029 |
Shares | Value | ||
Software—continued | |||
Microsoft Corp. | 431,800 | $ 110,899 | |
NortonLifeLock, Inc. | 254,840 | 5,596 | |
Oracle Corp. | 248,075 | 17,333 | |
Palo Alto Networks, Inc.(1) | 120,055 | 59,300 | |
Paycom Software, Inc.(1) | 37,535 | 10,514 | |
Smartsheet, Inc. Class A(1) | 66,920 | 2,103 | |
Tenable Holdings, Inc.(1) | 139,865 | 6,351 | |
Trade Desk, Inc. (The) Class A(1) | 298,025 | 12,484 | |
Workday, Inc. Class A(1) | 21,255 | 2,967 | |
Zscaler, Inc.(1) | 195,075 | 29,166 | |
392,125 | |||
Technology Hardware, Storage & Peripherals—8.8% | |||
Apple, Inc. | 648,680 | 88,687 | |
Pure Storage, Inc. Class A(1) | 359,510 | 9,243 | |
Seagate Technology Holdings plc | 273,025 | 19,505 | |
117,435 | |||
Total Common Stocks (Identified Cost $1,068,961) | 1,191,643 | ||
Total Long-Term Investments—89.6% (Identified Cost $1,068,961) | 1,191,643 | ||
Short-Term Investment—13.2% | |||
Money Market Mutual Fund—13.2% | |||
BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 1.316%)(2) | 175,826,679 | 175,827 | |
Total Short-Term Investment (Identified Cost $175,827) | 175,827 | ||
TOTAL INVESTMENTS—102.8% (Identified Cost $1,244,788) | $1,367,470 | ||
Other assets and liabilities, net—(2.8)% | (37,459) | ||
NET ASSETS—100.0% | $1,330,011 |
Abbreviation: | |
ADR | American Depositary Receipt |
Footnote Legend: | |
(1) | Non-income producing. |
(2) | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
Country Weightings (Unaudited)† | |
United States | 91% |
Netherlands | 2 |
Taiwan | 2 |
Ireland | 1 |
Singapore | 1 |
Germany | 1 |
South Korea | 1 |
Other | 1 |
Total | 100% |
† % of total investments as of June 30, 2022. |
Total Value at June 30, 2022 | Level 1 Quoted Prices | ||
Assets: | |||
Equity Securities: | |||
Common Stocks | $1,191,643 | $1,191,643 | |
Money Market Mutual Fund | 175,827 | 175,827 | |
Total Investments | $1,367,470 | $1,367,470 |
June 30, 2022
Emerging Markets Opportunities Fund | Focused Growth Fund | Global Small-Cap Fund | Health Sciences Fund | ||||
Assets | |||||||
Investment in securities at value(1) | $ 124,297 | $ 907,651 | $ 60,883 | $ 178,224 | |||
Foreign currency at value(2) | 6,538 | — | 135 | — | |||
Cash | 15 | 500 | 100 | 100 | |||
Receivables | |||||||
Investment securities sold | 1,169 | 10,467 | — | 1,166 | |||
Fund shares sold | 83 | 440 | 42 | 53 | |||
Dividends and interest | 1,067 | 225 | 71 | 143 | |||
Tax reclaims | 49 | — | 131 | 398 | |||
Prepaid Trustees’ retainer | 3 | 15 | 1 | 3 | |||
Prepaid expenses | 41 | 52 | 32 | 29 | |||
Other assets | 65 | 241 | 50 | 43 | |||
Total assets | 133,327 | 919,591 | 61,445 | 180,159 | |||
Liabilities | |||||||
Payables | |||||||
Fund shares repurchased | 73 | 1,119 | 74 | 329 | |||
Investment securities purchased | — | 6,839 | — | 1,263 | |||
Borrowings (See Note 11) | 3,300 | — | — | — | |||
Investment advisory fees | 71 | 341 | 45 | 122 | |||
Distribution and service fees | 5 | 138 | 8 | 33 | |||
Administration and accounting fees | 13 | 77 | 6 | 15 | |||
Transfer agent and sub-transfer agent fees and expenses | 41 | 44 | 15 | 28 | |||
Professional fees | 37 | 37 | 30 | 34 | |||
Trustee deferred compensation plan | 65 | 241 | 50 | 43 | |||
Interest expense and/or commitment fees | 1 | 5 | — (a) | 1 | |||
Other accrued expenses | 25 | 75 | 11 | 17 | |||
Total liabilities | 3,631 | 8,916 | 239 | 1,885 | |||
Net Assets | $ 129,696 | $ 910,675 | $ 61,206 | $ 178,274 | |||
Net Assets Consist of: | |||||||
Capital paid in on shares of beneficial interest | $ 143,833 | $ 577,584 | $ 63,037 | $ 165,784 | |||
Accumulated earnings (loss) | (14,137) | 333,091 | (1,831) | 12,490 | |||
Net Assets | $ 129,696 | $ 910,675 | $ 61,206 | $ 178,274 | |||
Net Assets: | |||||||
Class A | $ 20,341 | $ 537,276 | $ 32,248 | $ 149,236 | |||
Class C | $ 770 | $ 24,361 | $ 1,438 | $ 3,469 | |||
Class P | $ 6,578 | $ 45,888 | $ 2,067 | $ 2,125 | |||
Institutional Class | $ 72,307 | $ 127,274 | $ 25,453 | $ 23,444 | |||
Class R6 | $ 29,700 | $ 170,153 | $ — | $ — | |||
Administrative Class | $ — | $ 5,723 | $ — | $ — | |||
Shares Outstanding (unlimited number of shares authorized, no par value): | |||||||
Class A | 742,576 | 10,939,181 | 1,138,301 | 4,984,125 | |||
Class C | 28,069 | 1,082,242 | 69,483 | 184,265 | |||
Class P | 246,780 | 1,475,743 | 64,343 | 69,199 | |||
Institutional Class | 2,645,266 | 2,922,372 | 777,448 | 762,317 | |||
Class R6 | 1,093,804 | 3,890,388 | — | — | |||
Administrative Class | — | 149,368 | — | — |
Emerging Markets Opportunities Fund | Focused Growth Fund | Global Small-Cap Fund | Health Sciences Fund | ||||
Net Asset Value and Redemption Price Per Share:* | |||||||
Class A | $ 27.39 | $ 49.11 | $ 28.33 | $ 29.94 | |||
Class C | $ 27.42 | $ 22.51 | $ 20.69 | $ 18.83 | |||
Class P | $ 26.65 | $ 31.10 | $ 32.13 | $ 30.71 | |||
Institutional Class | $ 27.33 | $ 43.55 | $ 32.74 | $ 30.75 | |||
Class R6 | $ 27.15 | $ 43.74 | $ — | $ — | |||
Administrative Class | $ — | $ 38.32 | $ — | $ — | |||
Maximum Offering Price Per Share (NAV/(1-Maximum Sales Charge)): | |||||||
Class A | $ 28.98 | $ 51.97 | $ 29.98 | $ 31.68 | |||
Maximum Sales Charge - Class A | 5.50% | 5.50% | 5.50% | 5.50% | |||
(1) Investment in securities at cost | $ 125,063 | $ 576,385 | $ 63,572 | $ 173,845 | |||
(2) Foreign currency at cost | $ 6,571 | $ — | $ 136 | $ — |
(a) | Amount is less than $500. |
* | Net Asset Value and Redemption Price Per Share are calculated using unrounded net assets. |
Income & Growth Fund | Mid-Cap Growth Fund | NFJ Dividend Value Fund | NFJ International Value Fund | ||||
Assets | |||||||
Investment in securities at value(1) | $ 5,439,743 | $ 285,960 | $ 728,757 | $ 112,176 | |||
Investment in affiliates at value(2) | 5,618 | — | — | — | |||
Foreign currency at value(3) | — | — | — | — (a) | |||
Cash | 809 | 100 | 100 | 100 | |||
Due from broker | 6,538 | — | — | — | |||
Receivables | |||||||
Investment securities sold | 10,818 | — | — | — (a) | |||
Fund shares sold | 3,682 | 71 | 351 | 9 | |||
Dividends and interest | 38,851 | 129 | 1,435 | 273 | |||
Tax reclaims | — | — | 179 | 420 | |||
Prepaid Trustees’ retainer | 87 | 5 | 11 | 2 | |||
Prepaid expenses | 103 | 40 | 47 | 41 | |||
Other assets | 635 | 65 | 1,427 | 302 | |||
Total assets | 5,506,884 | 286,370 | 732,307 | 113,323 | |||
Liabilities | |||||||
Written options at value(4) | 1,198 | — | — | — | |||
Payables | |||||||
Fund shares repurchased | 6,855 | 114 | 669 | 168 | |||
Investment securities purchased | 18,959 | — | — | 187 | |||
Dividend distributions | — (a) | — | — | — | |||
Investment advisory fees | 3,057 | 117 | 286 | 51 | |||
Distribution and service fees | 1,362 | 60 | 439 | 39 | |||
Administration and accounting fees | 463 | 25 | 61 | 10 | |||
Transfer agent and sub-transfer agent fees and expenses | 975 | 58 | 171 | 36 | |||
Professional fees | 57 | 31 | 32 | 34 | |||
Trustee deferred compensation plan | 635 | 65 | 1,427 | 302 | |||
Interest expense and/or commitment fees | 26 | 2 | 3 | 1 | |||
Other accrued expenses | 272 | 37 | 62 | 25 | |||
Total liabilities | 33,859 | 509 | 3,150 | 853 | |||
Net Assets | $ 5,473,025 | $ 285,861 | $ 729,157 | $ 112,470 | |||
Net Assets Consist of: | |||||||
Capital paid in on shares of beneficial interest | $ 6,592,745 | $ 302,927 | $ 602,582 | $ 557,558 | |||
Accumulated earnings (loss) | (1,119,720) | (17,066) | 126,575 | (445,088) | |||
Net Assets | $ 5,473,025 | $ 285,861 | $ 729,157 | $ 112,470 | |||
Net Assets: | |||||||
Class A | $ 1,963,340 | $ 223,611 | $ 365,634 | $ 50,307 | |||
Class C | $ 1,096,937 | $ 6,350 | $ 12,496 | $ 1,724 | |||
Class P | $ 1,176,186 | $ 6,195 | $ 153,578 | $ 17,205 | |||
Institutional Class | $ 1,236,562 | $ 47,978 | $ 91,990 | $ 38,243 | |||
Class R6 | $ — | $ — | $ 72,399 | $ 3,477 | |||
Administrative Class | $ — | $ 1,727 | $ 33,060 | $ 1,514 | |||
Shares Outstanding (unlimited number of shares authorized, no par value): | |||||||
Class A | 192,512,617 | 77,410,732 | 31,973,516 | 2,821,375 | |||
Class C | 120,551,717 | 3,384,423 | 1,064,550 | 98,667 | |||
Class P | 111,582,020 | 1,689,670 | 13,273,365 | 958,155 | |||
Institutional Class | 115,879,575 | 12,910,674 | 7,962,719 | 2,128,815 | |||
Class R6 | — | — | 6,301,737 | 193,799 | |||
Administrative Class | — | 538,520 | 2,801,153 | 84,381 |
Income & Growth Fund | Mid-Cap Growth Fund | NFJ Dividend Value Fund | NFJ International Value Fund | ||||
Net Asset Value and Redemption Price Per Share:* | |||||||
Class A | $ 10.20 | $ 2.89 | $ 11.44 | $ 17.83 | |||
Class C | $ 9.10 | $ 1.88 | $ 11.74 | $ 17.47 | |||
Class P | $ 10.54 | $ 3.67 | $ 11.57 | $ 17.96 | |||
Institutional Class | $ 10.67 | $ 3.72 | $ 11.55 | $ 17.96 | |||
Class R6 | $ — | $ — | $ 11.49 | $ 17.95 | |||
Administrative Class | $ — | $ 3.21 | $ 11.80 | $ 17.94 | |||
Maximum Offering Price Per Share (NAV/(1-Maximum Sales Charge)): | |||||||
Class A | $ 10.79 | $ 3.06 | $ 12.11 | $ 18.87 | |||
Maximum Sales Charge - Class A | 5.50% | 5.50% | 5.50% | 5.50% | |||
(1) Investment in securities at cost | $ 6,548,438 | $ 290,831 | $ 679,560 | $ 127,212 | |||
(2) Investment in affiliates at cost | $ 13,526 | $ — | $ — | $ — | |||
(4) Written options premiums received | $ 1,191 | $ — | $ — | $ — |
(a) | Amount is less than $500. |
* | Net Asset Value and Redemption Price Per Share are calculated using unrounded net assets. |
NFJ Large-Cap Value Fund | NFJ Mid-Cap Value Fund | NFJ Small-Cap Value Fund | Small-Cap Fund | ||||
Assets | |||||||
Investment in securities at value(1) | $ 290,534 | $ 1,121,290 | $ 406,461 | $ 135,922 | |||
Cash | 100 | 583 | 100 | 97 | |||
Receivables | |||||||
Investment securities sold | — | 5,989 | — | 4 | |||
Fund shares sold | 428 | 514 | 72 | 34 | |||
Dividends and interest | 382 | 1,868 | 565 | 98 | |||
Tax reclaims | 42 | 18 | 11 | — | |||
Prepaid Trustees’ retainer | 5 | 18 | 6 | 2 | |||
Prepaid expenses | 48 | 53 | 50 | 44 | |||
Other assets | 175 | 290 | 1,191 | 14 | |||
Total assets | 291,714 | 1,130,623 | 408,456 | 136,215 | |||
Liabilities | |||||||
Payables | |||||||
Fund shares repurchased | 292 | 521 | 2,517 | 797 | |||
Investment securities purchased | — | 1,662 | — | — | |||
Investment advisory fees | 111 | 426 | 231 | 62 | |||
Distribution and service fees | 36 | 138 | 763 | 17 | |||
Administration and accounting fees | 25 | 95 | 35 | 13 | |||
Transfer agent and sub-transfer agent fees and expenses | 62 | 248 | 177 | 28 | |||
Professional fees | 31 | 34 | 31 | 30 | |||
Trustee deferred compensation plan | 175 | 290 | 1,191 | 14 | |||
Interest expense and/or commitment fees | 1 | 5 | 2 | 1 | |||
Other accrued expenses | 27 | 88 | 33 | 16 | |||
Total liabilities | 760 | 3,507 | 4,980 | 978 | |||
Net Assets | $ 290,954 | $ 1,127,116 | $ 403,476 | $ 135,237 | |||
Net Assets Consist of: | |||||||
Capital paid in on shares of beneficial interest | $ 245,228 | $ 973,503 | $ 359,488 | $ 130,930 | |||
Accumulated earnings (loss) | 45,726 | 153,613 | 43,988 | 4,307 | |||
Net Assets | $ 290,954 | $ 1,127,116 | $ 403,476 | $ 135,237 | |||
Net Assets: | |||||||
Class A | $ 159,063 | $ 495,612 | $ 236,990 | $ 64,567 | |||
Class C | $ 2,775 | $ 28,379 | $ 1,347 | $ 3,405 | |||
Class P | $ 15,206 | $ 99,992 | $ 14,358 | $ 13,287 | |||
Institutional Class | $ 113,368 | $ 381,239 | $ 58,704 | $ 46,605 | |||
Class R6 | $ 82 | $ 87,682 | $ 62,552 | $ 7,373 | |||
Administrative Class | $ 460 | $ 34,212 | $ 29,525 | $ — | |||
Shares Outstanding (unlimited number of shares authorized, no par value): | |||||||
Class A | 5,454,199 | 16,839,686 | 18,508,101 | 3,379,638 | |||
Class C | 94,030 | 1,236,302 | 121,343 | 191,490 | |||
Class P | 515,727 | 4,491,069 | 938,667 | 684,018 | |||
Institutional Class | 3,908,494 | 11,917,818 | 3,784,692 | 2,380,756 | |||
Class R6 | 2,827 | 2,742,566 | 4,076,311 | 375,658 | |||
Administrative Class | 15,517 | 1,117,799 | 2,308,369 | — | |||
Net Asset Value and Redemption Price Per Share:* | |||||||
Class A | $ 29.16 | $ 29.43 | $ 12.80 | $ 19.10 | |||
Class C | $ 29.51 | $ 22.96 | $ 11.10 | $ 17.78 | |||
Class P | $ 29.49 | $ 22.26 | $ 15.30 | $ 19.42 | |||
Institutional Class | $ 29.01 | $ 31.99 | $ 15.51 | $ 19.58 | |||
Class R6 | $ 28.99 | $ 31.97 | $ 15.35 | $ 19.63 | |||
Administrative Class | $ 29.67 | $ 30.61 | $ 12.79 | $ — |
NFJ Large-Cap Value Fund | NFJ Mid-Cap Value Fund | NFJ Small-Cap Value Fund | Small-Cap Fund | ||||
Maximum Offering Price Per Share (NAV/(1-Maximum Sales Charge)): | |||||||
Class A | $ 30.86 | $ 31.14 | $ 13.54 | $ 20.21 | |||
Maximum Sales Charge - Class A | 5.50% | 5.50% | 5.50% | 5.50% | |||
(1) Investment in securities at cost | $ 280,125 | $ 1,118,944 | $ 391,485 | $ 135,889 |
* | Net Asset Value and Redemption Price Per Share are calculated using unrounded net assets. |
Technology Fund | |
Assets | |
Investment in securities at value(1) | $ 1,367,470 |
Foreign currency at value(2) | 4,388 |
Cash | 502 |
Due from broker | 11 |
Receivables | |
Investment securities sold | 30,461 |
Fund shares sold | 975 |
Dividends and interest | 408 |
Tax reclaims | 90 |
Prepaid Trustees’ retainer | 21 |
Prepaid expenses | 61 |
Other assets | 363 |
Total assets | 1,404,750 |
Liabilities | |
Payables | |
Fund shares repurchased | 1,521 |
Investment securities purchased | 71,011 |
Investment advisory fees | 1,092 |
Distribution and service fees | 127 |
Administration and accounting fees | 114 |
Transfer agent and sub-transfer agent fees and expenses | 351 |
Professional fees | 39 |
Trustee deferred compensation plan | 363 |
Interest expense and/or commitment fees | 9 |
Other accrued expenses | 112 |
Total liabilities | 74,739 |
Net Assets | $ 1,330,011 |
Net Assets Consist of: | |
Capital paid in on shares of beneficial interest | $ 1,256,371 |
Accumulated earnings (loss) | 73,640 |
Net Assets | $ 1,330,011 |
Net Assets: | |
Class A | $ 475,065 |
Class C | $ 25,961 |
Class P | $ 50,775 |
Institutional Class | $ 772,161 |
Administrative Class | $ 6,049 |
Shares Outstanding (unlimited number of shares authorized, no par value): | |
Class A | 11,955,724 |
Class C | 1,699,972 |
Class P | 993,031 |
Institutional Class | 14,485,386 |
Administrative Class | 131,937 |
Net Asset Value and Redemption Price Per Share:* | |
Class A | $ 39.74 |
Class C | $ 15.27 |
Class P | $ 51.13 |
Institutional Class | $ 53.31 |
Administrative Class | $ 45.85 |
Technology Fund | |
Maximum Offering Price Per Share (NAV/(1-Maximum Sales Charge)): | |
Class A | $ 42.05 |
Maximum Sales Charge - Class A | 5.50% |
(1) Investment in securities at cost | $ 1,244,788 |
(2) Foreign currency at cost | $ 4,061 |
* | Net Asset Value and Redemption Price Per Share are calculated using unrounded net assets. |
YEAR ENDED June 30, 2022
Emerging Markets Opportunities Fund | Focused Growth Fund | Global Small-Cap Fund | Health Sciences Fund | Income & Growth Fund | |||||
Investment Income | |||||||||
Dividends | $ 10,395 | $ 6,299 | $ 1,369 | $ 2,690 | $ 40,818 | ||||
Dividends from affiliates | — | — | — | — | 373 | ||||
Interest | — | — | — | — | 125,453 | ||||
Foreign taxes withheld | (1,326) | — | (87) | (219) | (21) | ||||
Total investment income | 9,069 | 6,299 | 1,282 | 2,471 | 166,623 | ||||
Expenses | |||||||||
Investment advisory fees | 2,284 | 5,889 | 764 | 1,534 | 44,819 | ||||
Distribution and service fees, Class A | 71 | 1,943 | 111 | 416 | 5,947 | ||||
Distribution and service fees, Class C | 11 | 398 | 25 | 37 | 14,044 | ||||
Distribution and service fees, Administrative Class | — | 18 | — | — | — | ||||
Administration and accounting fees | 271 | 1,291 | 91 | 196 | 6,770 | ||||
Transfer agent fees and expenses | 110 | 537 | 35 | 77 | 2,867 | ||||
Sub-transfer agent fees and expenses, Class A | 34 | 459 | 46 | 152 | 1,524 | ||||
Sub-transfer agent fees and expenses, Class C | 1 | 26 | 3 | 3 | 998 | ||||
Sub-transfer agent fees and expenses, Class P | 9 | 74 | 3 | — (1) | 1,364 | ||||
Sub-transfer agent fees and expenses, Institutional Class | 235 | 151 | 34 | 21 | 1,299 | ||||
Sub-transfer agent fees and expenses, Administrative Class | — | 6 | — | — | — | ||||
Custodian fees | 37 | 8 | 10 | 4 | 60 | ||||
Printing fees and expenses | 12 | 75 | 8 | 13 | 383 | ||||
Professional fees | 50 | 49 | 33 | 35 | 124 | ||||
Interest expense and/or commitment fees | 6 | 34 | 2 | 4 | 148 | ||||
Registration fees | 59 | 83 | 49 | 44 | 200 | ||||
Trustees’ fees and expenses | 14 | 67 | 4 | 9 | 343 | ||||
Miscellaneous expenses | 45 | 162 | 22 | 59 | 1,405 | ||||
Total expenses | 3,249 | 11,270 | 1,240 | 2,604 | 82,295 | ||||
Less net expenses reimbursed and/or waived by investment adviser and/or administrator (2) | (615) | (69) | (4) | (3) | (49) | ||||
Net expenses | 2,634 | 11,201 | 1,236 | 2,601 | 82,246 | ||||
Net investment income (loss) | 6,435 | (4,902) | 46 | (130) | 84,377 | ||||
Net Realized and Unrealized Gain (Loss) on Investments | |||||||||
Net realized gain (loss) from: | |||||||||
Investments | (5,378) | 73,379 | 2,936 | 21,771 | 205,240 | ||||
Investment in affiliates | — | — | — | — | (285) | ||||
Foreign currency transactions | (523) | — | (82) | 3 | — | ||||
Foreign capital gains tax | (834) | — | — | — | — | ||||
Written options | — | — | — | — | 10,104 | ||||
Net change in unrealized appreciation (depreciation) on: | |||||||||
Investments | (80,789) | (390,971) | (25,118) | (28,280) | (1,547,753) | ||||
Investment in affiliates | — | — | — | — | 162 | ||||
Foreign currency transactions | (64) | — | (15) | (2) | — | ||||
Foreign capital gains tax | 1,083 | — | — | — | — | ||||
Written options | — | — | — | — | 3,067 | ||||
Net realized and unrealized gain (loss) on investments | (86,505) | (317,592) | (22,279) | (6,508) | (1,329,465) |
Emerging Markets Opportunities Fund | Focused Growth Fund | Global Small-Cap Fund | Health Sciences Fund | Income & Growth Fund | |||||
Net increase (decrease) in net assets resulting from operations | $(80,070) | $(322,494) | $(22,233) | $ (6,638) | $(1,245,088) |
(1) | Amount is less than $500. |
(2) | See Note 4D in Notes to Financial Statements. |
Mid-Cap Growth Fund | NFJ Dividend Value Fund | NFJ International Value Fund | NFJ Large-Cap Value Fund | NFJ Mid-Cap Value Fund | |||||
Investment Income | |||||||||
Dividends | $ 2,143 | $ 20,648 | $ 4,944 | $ 5,652 | $ 23,339 | ||||
Foreign taxes withheld | — | (203) | (496) | — (1) | (42) | ||||
Total investment income | 2,143 | 20,445 | 4,448 | 5,652 | 23,297 | ||||
Expenses | |||||||||
Investment advisory fees | 2,056 | 3,826 | 833 | 1,481 | 7,539 | ||||
Distribution and service fees, Class A | 844 | 1,052 | 160 | 455 | 1,438 | ||||
Distribution and service fees, Class C | 114 | 162 | 26 | 35 | 356 | ||||
Distribution and service fees, Administrative Class | 6 | 87 | 4 | 1 | 107 | ||||
Administration and accounting fees | 437 | 842 | 144 | 331 | 1,352 | ||||
Transfer agent fees and expenses | 177 | 352 | 59 | 133 | 557 | ||||
Sub-transfer agent fees and expenses, Class A | 207 | 527 | 104 | 175 | 696 | ||||
Sub-transfer agent fees and expenses, Class C | 6 | 13 | 3 | 3 | 32 | ||||
Sub-transfer agent fees and expenses, Class P | 23 | 165 | 24 | 19 | 195 | ||||
Sub-transfer agent fees and expenses, Institutional Class | 60 | 130 | 29 | 110 | 367 | ||||
Sub-transfer agent fees and expenses, Administrative Class | 3 | 32 | 1 | — (1) | 31 | ||||
Custodian fees | — | — | 25 | 1 | — | ||||
Printing fees and expenses | 27 | 34 | 8 | 19 | 63 | ||||
Professional fees | 34 | 39 | 37 | 33 | 49 | ||||
Interest expense and/or commitment fees | 13 | 20 | 3 | 8 | 34 | ||||
Registration fees | 67 | 88 | 78 | 71 | 91 | ||||
Trustees’ fees and expenses | 22 | 43 | 7 | 17 | 70 | ||||
Miscellaneous expenses | 93 | 140 | 75 | 65 | 178 | ||||
Total expenses | 4,189 | 7,552 | 1,620 | 2,957 | 13,155 | ||||
Less net expenses reimbursed and/or waived by investment adviser and/or administrator (2) | — (1) | (66) | (30) | — | (1,553) | ||||
Plus net expenses recaptured | — | — | — | — (1) | — | ||||
Net expenses | 4,189 | 7,486 | 1,590 | 2,957 | 11,602 | ||||
Net investment income (loss) | (2,046) | 12,959 | 2,858 | 2,695 | 11,695 | ||||
Net Realized and Unrealized Gain (Loss) on Investments | |||||||||
Net realized gain (loss) from: | |||||||||
Investments | 9,567 | 127,450 | 9,923 | 46,181 | 214,751 | ||||
Foreign currency transactions | — | — | (23) | — | — | ||||
Net change in unrealized appreciation (depreciation) on: | |||||||||
Investments | (158,309) | (166,182) | (42,771) | (67,038) | (299,346) | ||||
Foreign currency transactions | — | — | (38) | — | — | ||||
Net realized and unrealized gain (loss) on investments | (148,742) | (38,732) | (32,909) | (20,857) | (84,595) | ||||
Net increase (decrease) in net assets resulting from operations | $(150,788) | $ (25,773) | $(30,051) | $(18,162) | $ (72,900) |
(1) | Amount is less than $500. |
(2) | See Note 4D in Notes to Financial Statements. |
NFJ Small-Cap Value Fund | Small-Cap Fund | Technology Fund | |||
Investment Income | |||||
Dividends | $ 9,418 | $ 2,380 | $ 8,238 | ||
Foreign taxes withheld | (65) | (2) | (402) | ||
Total investment income | 9,353 | 2,378 | 7,836 | ||
Expenses | |||||
Investment advisory fees | 3,029 | 1,017 | 19,188 | ||
Distribution and service fees, Class A | 737 | 203 | 1,813 | ||
Distribution and service fees, Class C | 15 | 45 | 446 | ||
Distribution and service fees, Administrative Class | 88 | — | 40 | ||
Administration and accounting fees | 503 | 174 | 2,096 | ||
Transfer agent fees and expenses | 206 | 68 | 874 | ||
Sub-transfer agent fees and expenses, Class A | 487 | 66 | 737 | ||
Sub-transfer agent fees and expenses, Class C | 2 | 4 | 41 | ||
Sub-transfer agent fees and expenses, Class P | 20 | 21 | 135 | ||
Sub-transfer agent fees and expenses, Institutional Class | 66 | 38 | 1,123 | ||
Sub-transfer agent fees and expenses, Administrative Class | 17 | — | 64 | ||
Custodian fees | — | 1 | 26 | ||
Printing fees and expenses | 23 | 13 | 111 | ||
Professional fees | 38 | 32 | 63 | ||
Interest expense and/or commitment fees | 13 | 6 | 54 | ||
Registration fees | 86 | 72 | 97 | ||
Trustees’ fees and expenses | 27 | 8 | 113 | ||
Miscellaneous expenses | 70 | 36 | 222 | ||
Total expenses | 5,427 | 1,804 | 27,243 | ||
Less net expenses reimbursed and/or waived by investment adviser and/or administrator (1) | (157) | (52) | (39) | ||
Net expenses | 5,270 | 1,752 | 27,204 | ||
Net investment income (loss) | 4,083 | 626 | (19,368) | ||
Net Realized and Unrealized Gain (Loss) on Investments | |||||
Net realized gain (loss) from: | |||||
Investments | 59,886 | 6,855 | 58,617 | ||
Foreign currency transactions | (4) | — | 53 | ||
Written options | — | — | 4,321 | ||
Net change in unrealized appreciation (depreciation) on: | |||||
Investments | (113,054) | (43,808) | (693,251) | ||
Foreign currency transactions | — (2) | — | (306) | ||
Written options | — | — | (5,019) | ||
Net realized and unrealized gain (loss) on investments | (53,172) | (36,953) | (635,585) | ||
Net increase (decrease) in net assets resulting from operations | $ (49,089) | $(36,327) | $(654,953) |
(1) | See Note 4D in Notes to Financial Statements. |
(2) | Amount is less than $500. |
Emerging Markets Opportunities Fund | Focused Growth Fund | Global Small-Cap Fund | |||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||||||
Net investment income (loss) | $ 6,435 | $ 3,567 | $ (4,902) | $ (5,397) | $ 46 | $ (379) | |||||
Net realized gain (loss) | (6,735) | 65,009 | 73,379 | 252,636 | 2,854 | 25,830 | |||||
Net change in unrealized appreciation (depreciation) | (79,770) | 35,507 | (390,971) | 239,898 | (25,133) | 10,708 | |||||
Increase (decrease) in net assets resulting from operations | (80,070) | 104,083 | (322,494) | 487,137 | (22,233) | 36,159 | |||||
Dividends and Distributions to Shareholders | |||||||||||
Net Investment Income and Net Realized Gains: | |||||||||||
Class A | (397) | (332) | (141,631) | (61,955) | (12,359) | (2,066) | |||||
Class C | — | (—) (1) | (12,875) | (7,421) | (853) | (208) | |||||
Class R | — | — | — | (2,811) | — | — | |||||
Class P | (163) | (215) | (23,010) | (11,539) | (726) | (213) | |||||
Institutional Class | (4,023) | (2,694) | (40,132) | (17,047) | (8,802) | (1,361) | |||||
Class R6 | (727) | (371) | (36,559) | (15,711) | — | — | |||||
Administrative Class | — | — | (1,643) | (563) | — | — | |||||
Total dividends and distributions to shareholders | (5,310) | (3,612) | (255,850) | (117,047) | (22,740) | (3,848) | |||||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||||||
Class A | (4,768) | (11,810) | 6,578 | 19,585 | 5,131 | (1,210) | |||||
Class C | (622) | (1,106) | (2,532) | (8,647) | (478) | (2,124) | |||||
Class R | — | — | — | (24,766) | — | — | |||||
Class P | 1,288 | (10,319) | (18,166) | (5,468) | (84) | (2,742) | |||||
Institutional Class | (71,138) | (52,891) | 4,628 | (12,240) | 2,972 | (2,151) | |||||
Class R6 | 9,813 | 2,631 | 67,282 | 12,989 | — | — | |||||
Administrative Class | — | — | 2,780 | 553 | — | — | |||||
Increase (decrease) in net assets from capital transactions | (65,427) | (73,495) | 60,570 | (17,994) | 7,541 | (8,227) | |||||
Net increase (decrease) in net assets | (150,807) | 26,976 | (517,774) | 352,096 | (37,432) | 24,084 | |||||
Net Assets | |||||||||||
Beginning of period | 280,503 | 253,527 | 1,428,449 | 1,076,353 | 98,638 | 74,554 | |||||
End of Period | $ 129,696 | $ 280,503 | $ 910,675 | $ 1,428,449 | $ 61,206 | $ 98,638 |
(1) | Amount is less than $500. |
Health Sciences Fund | Income & Growth Fund | Mid-Cap Growth Fund | |||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||||||
Net investment income (loss) | $ (130) | $ (53) | $ 84,377 | $ 64,159 | $ (2,046) | $ (3,184) | |||||
Net realized gain (loss) | 21,774 | 35,049 | 215,059 | 496,113 | 9,567 | 128,765 | |||||
Net increase from payment by affiliate | — | — | — | — | — | 33 | |||||
Net change in unrealized appreciation (depreciation) | (28,282) | 8,655 | (1,544,524) | 974,178 | (158,309) | 50,638 | |||||
Increase (decrease) in net assets resulting from operations | (6,638) | 43,651 | (1,245,088) | 1,534,450 | (150,788) | 176,252 | |||||
Dividends and Distributions to Shareholders | |||||||||||
Net Investment Income and Net Realized Gains: | |||||||||||
Class A | (32,177) | (20,304) | (159,641) | (140,468) | (98,558) | (34,098) | |||||
Class C | (981) | (673) | (95,276) | (93,016) | (4,311) | (2,224) | |||||
Class R | — | — | — | (323) | — | (248) | |||||
Class P | (179) | (18) | (109,170) | (106,526) | (4,010) | (1,762) | |||||
Institutional Class | (4,284) | (1,858) | (97,525) | (71,571) | (17,067) | (4,702) | |||||
Administrative Class | — | — | — | — | (664) | (218) | |||||
Total dividends and distributions to shareholders | (37,621) | (22,853) | (461,612) | (411,904) | (124,610) | (43,252) | |||||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||||||
Class A | 17,203 | 2,772 | 153,524 | 388,362 | 61,552 | 11,620 | |||||
Class C | 866 | (697) | (17,195) | 4,472 | (948) | (4,674) | |||||
Class R | — | — | — | (6,855) | — | (2,164) | |||||
Class P | 1,666 | 837 | (272,790) | 272,603 | (16,368) | 10,048 | |||||
Institutional Class | 7,461 | 8,001 | 307,064 | 323,412 | 27,608 | (9,976) | |||||
Administrative Class | — | — | — | — | 387 | 404 | |||||
Increase (decrease) in net assets from capital transactions | 27,196 | 10,913 | 170,603 | 981,994 | 72,231 | 5,258 | |||||
Net increase (decrease) in net assets | (17,063) | 31,711 | (1,536,097) | 2,104,540 | (203,167) | 138,258 | |||||
Net Assets | |||||||||||
Beginning of period | 195,337 | 163,626 | 7,009,122 | 4,904,582 | 489,028 | 350,770 | |||||
End of Period | $ 178,274 | $ 195,337 | $ 5,473,025 | $ 7,009,122 | $ 285,861 | $ 489,028 |
NFJ Dividend Value Fund | NFJ International Value Fund | NFJ Large-Cap Value Fund | |||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||||||
Net investment income (loss) | $ 12,959 | $ 12,582 | $ 2,858 | $ 2,183 | $ 2,695 | $ 2,943 | |||||
Net realized gain (loss) | 127,450 | 71,321 | 9,900 | 29,101 | 46,181 | 19,471 | |||||
Net change in unrealized appreciation (depreciation) | (166,182) | 165,714 | (42,809) | 16,296 | (67,038) | 77,782 | |||||
Increase (decrease) in net assets resulting from operations | (25,773) | 249,617 | (30,051) | 47,580 | (18,162) | 100,196 | |||||
Dividends and Distributions to Shareholders | |||||||||||
Net Investment Income and Net Realized Gains: | |||||||||||
Class A | (27,364) | (5,022) | (1,231) | (1,133) | (11,330) | (1,253) | |||||
Class C | (907) | (105) | (39) | (71) | (192) | (4) | |||||
Class R | — | (460) | — | (62) | — | (5) | |||||
Class P | (12,521) | (3,256) | (513) | (494) | (1,169) | (176) | |||||
Institutional Class | (7,072) | (1,922) | (1,021) | (870) | (7,866) | (1,404) | |||||
Class R6 | (5,785) | (1,275) | (61) | (35) | (6) | — | |||||
Administrative Class | (2,231) | (386) | (30) | (92) | (32) | (5) | |||||
Total dividends and distributions to shareholders | (55,880) | (12,426) | (2,895) | (2,757) | (20,595) | (2,847) | |||||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||||||
Class A | (15,519) | (3,614) | (7,951) | (1,129) | (4,142) | (15,877) | |||||
Class C | (5,103) | (27,778) | (1,244) | (5,828) | (905) | (5,531) | |||||
Class R | — | (66,178) | — | (5,730) | — | (1,567) | |||||
Class P | (40,573) | (69,232) | (4,145) | (3,918) | (3,215) | (391) | |||||
Institutional Class | (21,044) | (27,513) | 879 | (1,414) | (945) | (2,360) | |||||
Class R6 | (1,837) | 2,320 | 1,570 | 1,073 | 100 | — | |||||
Administrative Class | 3,460 | 29 | 656 | (1,691) | 1 | (827) | |||||
Increase (decrease) in net assets from capital transactions | (80,616) | (191,966) | (10,235) | (18,637) | (9,106) | (26,553) | |||||
Net increase (decrease) in net assets | (162,269) | 45,225 | (43,181) | 26,186 | (47,863) | 70,796 | |||||
Net Assets | |||||||||||
Beginning of period | 891,426 | 846,201 | 155,651 | 129,465 | 338,817 | 268,021 | |||||
End of Period | $ 729,157 | $ 891,426 | $ 112,470 | $ 155,651 | $ 290,954 | $ 338,817 |
NFJ Mid-Cap Value Fund | NFJ Small-Cap Value Fund | ||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||
Net investment income (loss) | $ 11,695 | $ 15,541 | $ 4,083 | $ 8,281 | |||
Net realized gain (loss) | 214,751 | 204,111 | 59,882 | 39,717 | |||
Net change in unrealized appreciation (depreciation) | (299,346) | 239,159 | (113,054) | 155,565 | |||
Increase (decrease) in net assets resulting from operations | (72,900) | 458,811 | (49,089) | 203,563 | |||
Dividends and Distributions to Shareholders | |||||||
Net Investment Income and Net Realized Gains: | |||||||
Class A | (66,580) | (5,490) | (25,065) | (6,283) | |||
Class C | (5,140) | (140) | (140) | (25) | |||
Class R | — | (188) | — | (213) | |||
Class P | (30,390) | (4,347) | (1,457) | (494) | |||
Institutional Class | (51,577) | (6,026) | (5,349) | (2,006) | |||
Class R6 | (8,923) | (1,245) | (5,537) | (1,728) | |||
Administrative Class | (4,770) | (405) | (3,012) | (739) | |||
Total dividends and distributions to shareholders | (167,380) | (17,841) | (40,560) | (11,488) | |||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||
Class A | 1,124 | (49,641) | (33,996) | (44,138) | |||
Class C | (3,666) | (10,522) | 53 | (614) | |||
Class R | — | (21,908) | — | (19,765) | |||
Class P | (104,458) | (46,511) | (6,610) | (5,628) | |||
Institutional Class | (4,658) | (63,448) | (23,666) | (40,173) | |||
Class R6 | 16,625 | (6,229) | (13,538) | (27,873) | |||
Administrative Class | (7,987) | 2,378 | (1,513) | (9,675) | |||
Increase (decrease) in net assets from capital transactions | (103,020) | (195,881) | (79,270) | (147,866) | |||
Net increase (decrease) in net assets | (343,300) | 245,089 | (168,919) | 44,209 | |||
Net Assets | |||||||
Beginning of period | 1,470,416 | 1,225,327 | 572,395 | 528,186 | |||
End of Period | $ 1,127,116 | $ 1,470,416 | $ 403,476 | $ 572,395 |
Small-Cap Fund | Technology Fund | ||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||
Increase (Decrease) in Net Assets Resulting from Operations | |||||||
Net investment income (loss) | $ 626 | $ (81) | $ (19,368) | $ (22,167) | |||
Net realized gain (loss) | 6,855 | 29,832 | 62,991 | 739,284 | |||
Net change in unrealized appreciation (depreciation) | (43,808) | 30,187 | (698,576) | 119,755 | |||
Increase (decrease) in net assets resulting from operations | (36,327) | 59,938 | (654,953) | 836,872 | |||
Dividends and Distributions to Shareholders | |||||||
Net Investment Income and Net Realized Gains: | |||||||
Class A | (10,641) | (78) | (225,190) | (139,871) | |||
Class C | (633) | (—) (1) | (25,330) | (17,152) | |||
Class P | (3,156) | (73) | (29,704) | (29,816) | |||
Institutional Class | (6,896) | (131) | (306,251) | (197,487) | |||
Class R6 | (1,124) | (28) | — | — | |||
Administrative Class | — | — | (4,115) | (13,247) | |||
Total dividends and distributions to shareholders | (22,450) | (310) | (590,590) | (397,573) | |||
Change in Net Assets from Capital Transactions (See Note 6): | |||||||
Class A | 4,473 | (2,656) | 120,881 | 6,290 | |||
Class C | 44 | (1,549) | 11,085 | 96 | |||
Class P | (8,470) | 2,947 | (90,576) | 2,894 | |||
Institutional Class | 29,872 | 1,705 | 73,175 | 135,952 | |||
Class R6 | 1,739 | (3,921) | — | — | |||
Administrative Class | — | — | (73,817) | 72,833 | |||
Increase (decrease) in net assets from capital transactions | 27,658 | (3,474) | 40,748 | 218,065 | |||
Net increase (decrease) in net assets | (31,119) | 56,154 | (1,204,795) | 657,364 | |||
Net Assets | |||||||
Beginning of period | 166,356 | 110,202 | 2,534,806 | 1,877,442 | |||
End of Period | $ 135,237 | $ 166,356 | $ 1,330,011 | $ 2,534,806 |
(1) | Amount is less than $500. |
THROUGHOUT EACH PERIOD
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
Emerging Markets Opportunities Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 37.61 | 0.75 | (10.52) | (9.77) | (0.45) | — | — | (0.45) | — | (10.22) | $ 27.39 | (26.17) % | $ 20,341 | 1.29 % | 1.45 % | 2.28 % | 112 % | |
7/1/20 to 6/30/21 | 25.88 | 0.33 | 11.71 | 12.04 | (0.31) | — | — | (0.31) | — | 11.73 | 37.61 | 46.70 | 33,740 | 1.28 (6) | 1.57 | 0.98 | 80 | |
7/1/19 to 6/30/20 | 27.06 | 0.46 | (1.08) | (0.62) | (0.56) | — | — | (0.56) | — | (1.18) | 25.88 | (2.45) | 32,514 | 1.28 | 1.63 | 1.75 | 83 | |
7/1/18 to 6/30/19 | 28.53 | 0.56 | (1.55) | (0.99) | (0.48) | — | — | (0.48) | — | (1.47) | 27.06 | (3.29) | 48,388 | 1.26 | 1.61 | 2.08 | 101 | |
7/1/17 to 6/30/18 | 26.59 | 0.41 | 1.85 | 2.26 | (0.32) | — | — | (0.32) | — | 1.94 | 28.53 | 8.44 | 108,279 | 1.26 | 1.61 | 1.36 | 88 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 37.41 | 0.53 | (10.52) | (9.99) | — | — | — | — | — | (9.99) | $ 27.42 | (26.70) % | $ 770 | 2.04 % | 2.21 % | 1.61 % | 112 % | |
7/1/20 to 6/30/21 | 25.69 | 0.07 | 11.65 | 11.72 | — (7) | — | — | — | — | 11.72 | 37.41 | 45.62 | 1,713 | 2.03 (6) | 2.30 | 0.22 | 80 | |
7/1/19 to 6/30/20 | 26.81 | 0.28 | (1.10) | (0.82) | (0.30) | — | — | (0.30) | — | (1.12) | 25.69 | (3.16) | 2,022 | 2.03 | 2.38 | 1.08 | 83 | |
7/1/18 to 6/30/19 | 28.05 | 0.31 | (1.45) | (1.14) | (0.10) | — | — | (0.10) | — | (1.24) | 26.81 | (4.05) | 3,675 | 2.01 | 2.36 | 1.15 | 101 | |
7/1/17 to 6/30/18 | 26.13 | 0.16 | 1.84 | 2.00 | (0.08) | — | — | (0.08) | — | 1.92 | 28.05 | 7.63 | 8,113 | 2.01 | 2.36 | 0.55 | 88 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 36.71 | 0.79 | (10.24) | (9.45) | (0.61) | — | — | (0.61) | — | (10.06) | $ 26.65 | (26.00) % | $ 6,578 | 1.04 % | 1.18 % | 2.48 % | 112 % | |
7/1/20 to 6/30/21 | 25.30 | 0.33 | 11.53 | 11.86 | (0.45) | — | — | (0.45) | — | 11.41 | 36.71 | 47.12 | 7,945 | 1.02 (6) | 1.32 | 1.05 | 80 | |
7/1/19 to 6/30/20 | 26.46 | 0.53 | (1.06) | (0.53) | (0.63) | — | — | (0.63) | — | (1.16) | 25.30 | (2.19) | 12,814 | 1.03 | 1.38 | 2.07 | 83 | |
7/1/18 to 6/30/19 | 28.02 | 0.55 | (1.47) | (0.92) | (0.64) | — | — | (0.64) | — | (1.56) | 26.46 | (3.05) | 20,454 | 1.01 | 1.36 | 2.08 | 101 | |
7/1/17 to 6/30/18 | 26.17 | 0.46 | 1.84 | 2.30 | (0.45) | — | — | (0.45) | — | 1.85 | 28.02 | 8.71 | 29,887 | 1.01 | 1.36 | 1.55 | 88 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 37.62 | 0.78 | (10.43) | (9.65) | (0.64) | — | — | (0.64) | — | (10.29) | $ 27.33 | (25.92) % | $ 72,307 | 0.94 % | 1.19 % | 2.37 % | 112 % | |
7/1/20 to 6/30/21 | 25.91 | 0.48 | 11.70 | 12.18 | (0.47) | — | — | (0.47) | — | 11.71 | 37.62 | 47.27 | 206,383 | 0.93 (6) | 1.26 | 1.43 | 80 | |
7/1/19 to 6/30/20 | 27.10 | 0.54 | (1.06) | (0.52) | (0.67) | — | — | (0.67) | — | (1.19) | 25.91 | (2.11) | 186,595 | 0.93 | 1.28 | 2.05 | 83 | |
7/1/18 to 6/30/19 | 28.72 | 0.54 | (1.47) | (0.93) | (0.69) | — | — | (0.69) | — | (1.62) | 27.10 | (2.97) | 282,196 | 0.91 | 1.26 | 2.03 | 101 | |
7/1/17 to 6/30/18 | 26.83 | 0.53 | 1.85 | 2.38 | (0.49) | — | — | (0.49) | — | 1.89 | 28.72 | 8.79 | 197,536 | 0.91 | 1.26 | 1.74 | 88 | |
Class R6 | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 37.40 | 0.86 | (10.43) | (9.57) | (0.68) | — | — | (0.68) | — | (10.25) | $ 27.15 | (25.89) % | $ 29,700 | 0.89 % | 1.08 % | 2.64 % | 112 % | |
7/1/20 to 6/30/21 | 25.78 | 0.49 | 11.64 | 12.13 | (0.51) | — | — | (0.51) | — | 11.62 | 37.40 | 47.34 | 30,722 | 0.88 (6) | 1.18 | 1.47 | 80 | |
7/1/19 to 6/30/20 | 26.96 | 0.54 | (1.03) | (0.49) | (0.69) | — | — | (0.69) | — | (1.18) | 25.78 | (2.04) | 19,582 | 0.88 | 1.23 | 2.10 | 83 | |
7/1/18 to 6/30/19 | 28.57 | 0.57 | (1.48) | (0.91) | (0.70) | — | — | (0.70) | — | (1.61) | 26.96 | (2.93) | 23,647 | 0.86 | 1.21 | 2.13 | 101 | |
7/1/17 to 6/30/18 | 26.69 | 0.62 | 1.76 | 2.38 | (0.50) | — | — | (0.50) | — | 1.88 | 28.57 | 8.85 | 24,277 | 0.86 | 1.21 | 2.03 | 88 | |
Focused Growth Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 79.25 | (0.32) | (16.15) | (16.47) | — | — | (13.67) | (13.67) | — | (30.14) | $ 49.11 | (25.81) % | $ 537,276 | 0.94 % (8) | 0.94 % | (0.45) % | 22 % | |
7/1/20 to 6/30/21 | 58.46 | (0.35) | 27.26 | 26.91 | — | — | (6.12) | (6.12) | — | 20.79 | 79.25 | 47.50 | 860,373 | 0.97 (6) | 1.04 | (0.50) | 50 | |
7/1/19 to 6/30/20 | 53.33 | (0.10) | 12.28 | 12.18 | — | — | (7.05) | (7.05) | — | 5.13 | 58.46 | 24.74 | 618,302 | 1.00 | 1.12 | (0.20) | 63 | |
7/1/18 to 6/30/19 | 56.83 | (0.08) | 2.48 | 2.40 | — | — | (5.90) | (5.90) | — | (3.50) | 53.33 | 6.79 | 577,106 | 1.00 | 1.12 | (0.15) | 50 | |
7/1/17 to 6/30/18 | 46.62 | — (7) | 10.92 | 10.92 | — | — | (0.71) | (0.71) | — | 10.21 | 56.83 | 23.53 | 421,188 | 0.99 | 1.11 | — | 40 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
Focused Growth Fund (Continued) | ||||||||||||||||||
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 43.67 | (0.43) | (7.06) | (7.49) | — | — | (13.67) | (13.67) | — | (21.16) | $ 22.51 | (26.37) % | $ 24,361 | 1.70 % (8) | 1.70 % | (1.22) % | 22 % | |
7/1/20 to 6/30/21 | 34.58 | (0.50) | 15.71 | 15.21 | — | — | (6.12) | (6.12) | — | 9.09 | 43.67 | 46.39 | 48,650 | 1.73 (8) | 1.79 | (1.25) | 50 | |
7/1/19 to 6/30/20 | 34.42 | (0.31) | 7.52 | 7.21 | — | — | (7.05) | (7.05) | — | 0.16 | 34.58 | 23.79 | 45,878 | 1.77 | 1.87 | (0.97) | 63 | |
7/1/18 to 6/30/19 | 39.41 | (0.36) | 1.27 | 0.91 | — | — | (5.90) | (5.90) | — | (4.99) | 34.42 | 5.93 | 48,706 | 1.77 | 1.87 | (0.93) | 50 | |
7/1/17 to 6/30/18 | 32.76 | (0.29) | 7.65 | 7.36 | — | — | (0.71) | (0.71) | — | 6.65 | 39.41 | 22.59 | 233,854 | 1.76 | 1.86 | (0.77) | 40 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 54.85 | (0.11) | (9.97) | (10.08) | — | — | (13.67) | (13.67) | — | (23.75) | $ 31.10 | (25.62) % | $ 45,888 | 0.71 % (8) | 0.71 % | (0.23) % | 22 % | |
7/1/20 to 6/30/21 | 41.83 | (0.13) | 19.27 | 19.14 | — | — | (6.12) | (6.12) | — | 13.02 | 54.85 | 47.83 | 105,688 | 0.73 (8) | 0.80 | (0.26) | 50 | |
7/1/19 to 6/30/20 | 39.91 | 0.01 | 8.96 | 8.97 | — | — | (7.05) | (7.05) | — | 1.92 | 41.83 | 25.03 | 84,929 | 0.77 | 0.87 | 0.03 | 63 | |
7/1/18 to 6/30/19 | 44.18 | 0.03 | 1.60 | 1.63 | — | — | (5.90) | (5.90) | — | (4.27) | 39.91 | 7.01 | 91,265 | 0.77 | 0.87 | 0.09 | 50 | |
7/1/17 to 6/30/18 | 36.33 | 0.09 | 8.52 | 8.61 | (0.05) | — | (0.71) | (0.76) | — | 7.85 | 44.18 | 23.84 | 109,456 | 0.76 | 0.86 | 0.23 | 40 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 71.58 | (0.12) | (14.24) | (14.36) | — | — | (13.67) | (13.67) | — | (28.03) | $ 43.55 | (25.61) % | $ 127,274 | 0.67 % | 0.70 % | (0.19) % | 22 % | |
7/1/20 to 6/30/21 | 53.11 | (0.12) | 24.71 | 24.59 | — | — | (6.12) | (6.12) | — | 18.47 | 71.58 | 47.94 | 209,066 | 0.67 | 0.74 | (0.19) | 50 | |
7/1/19 to 6/30/20 | 48.89 | 0.06 | 11.21 | 11.27 | — | — | (7.05) | (7.05) | — | 4.22 | 53.11 | 25.15 | 165,726 | 0.67 | 0.77 | 0.13 | 63 | |
7/1/18 to 6/30/19 | 52.51 | 0.09 | 2.19 | 2.28 | — | — | (5.90) | (5.90) | — | (3.62) | 48.89 | 7.15 | 162,173 | 0.67 | 0.77 | 0.18 | 50 | |
7/1/17 to 6/30/18 | 43.02 | 0.16 | 10.08 | 10.24 | (0.04) | — | (0.71) | (0.75) | — | 9.49 | 52.51 | 23.93 | 177,278 | 0.66 | 0.76 | 0.33 | 40 | |
Class R6 | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 71.80 | (0.08) | (14.31) | (14.39) | — | — | (13.67) | (13.67) | — | (28.06) | $ 43.74 | (25.57) % | $ 170,153 | 0.62 % | 0.63 % | (0.14) % | 22 % | |
7/1/20 to 6/30/21 | 53.23 | (0.10) | 24.79 | 24.69 | — | — | (6.12) | (6.12) | — | 18.57 | 71.80 | 48.02 | 198,031 | 0.62 | 0.68 | (0.15) | 50 | |
7/1/19 to 6/30/20 | 48.96 | 0.09 | 11.23 | 11.32 | — | — | (7.05) | (7.05) | — | 4.27 | 53.23 | 25.22 | 136,519 | 0.62 | 0.72 | 0.19 | 63 | |
7/1/18 to 6/30/19 | 52.56 | 0.11 | 2.19 | 2.30 | — | — | (5.90) | (5.90) | — | (3.60) | 48.96 | 7.18 | 134,485 | 0.62 | 0.72 | 0.23 | 50 | |
7/1/17 to 6/30/18 | 43.04 | 0.19 | 10.10 | 10.29 | (0.06) | — | (0.71) | (0.77) | — | 9.52 | 52.56 | 24.03 | 114,054 | 0.61 | 0.71 | 0.38 | 40 | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 64.69 | (0.24) | (12.46) | (12.70) | — | — | (13.67) | (13.67) | — | (26.37) | $ 38.32 | (25.79) % | $ 5,723 | 0.92 % | 0.97 % | (0.44) % | 22 % | |
7/1/20 to 6/30/21 | 48.56 | (0.26) | 22.51 | 22.25 | — | — | (6.12) | (6.12) | — | 16.13 | 64.69 | 47.60 | 6,641 | 0.92 | 1.00 | (0.44) | 50 | |
7/1/19 to 6/30/20 | 45.36 | (0.05) | 10.30 | 10.25 | — | — | (7.05) | (7.05) | — | 3.20 | 48.56 | 24.84 | 4,518 | 0.92 | 1.02 | (0.11) | 63 | |
7/1/18 to 6/30/19 | 49.33 | (0.04) | 1.97 | 1.93 | — | — | (5.90) | (5.90) | — | (3.97) | 45.36 | 6.88 | 5,138 | 0.92 | 1.02 | (0.08) | 50 | |
7/1/17 to 6/30/18 | 40.51 | 0.03 | 9.50 | 9.53 | — | — | (0.71) | (0.71) | — | 8.82 | 49.33 | 23.63 | 4,017 | 0.91 | 1.01 | 0.07 | 40 | |
Global Small-Cap Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 52.31 | (0.02) | (10.43) | (10.45) | — | — | (13.53) | (13.53) | — | (23.98) | $ 28.33 | (26.07) % | $ 32,248 | 1.56 % (8)(9) | 1.55 % | (0.04) % | 90 % | |
7/1/20 to 6/30/21 | 35.72 | (0.25) | 19.01 | 18.76 | — | — | (2.17) | (2.17) | — | 16.59 | 52.31 | 53.24 | 51,169 | 1.60 (8) | 1.60 | (0.54) | 106 | |
7/1/19 to 6/30/20 | 39.37 | (0.23) | (0.47) | (0.70) | — | — | (2.95) | (2.95) | — | (3.65) | 35.72 | (2.20) | 36,141 | 1.63 | 1.63 | (0.63) | 93 | |
7/1/18 to 6/30/19 | 51.40 | (0.14) | (3.88) | (4.02) | — | — | (8.01) | (8.01) | — | (12.03) | 39.37 | (4.64) | 46,947 | 1.62 | 1.62 | (0.34) | 85 | |
7/1/17 to 6/30/18 | 47.75 | (0.26) | 8.28 | 8.02 | (0.10) | — | (4.27) | (4.37) | — | 3.65 | 51.40 (10) | 17.08 (10) | 56,929 | 1.62 | 1.62 | (0.51) | 77 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
Global Small-Cap Fund (Continued) | ||||||||||||||||||
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 42.24 | (0.29) | (7.73) | (8.02) | — | — | (13.53) | (13.53) | — | (21.55) | $ 20.69 | (26.64) % | $ 1,438 | 2.32 % (8) | 2.32 % | (0.90) % | 90 % | |
7/1/20 to 6/30/21 | 29.36 | (0.50) | 15.55 | 15.05 | — | — | (2.17) | (2.17) | — | 12.88 | 42.24 | 52.11 | 3,374 | 2.35 (8) | 2.35 | (1.34) | 106 | |
7/1/19 to 6/30/20 | 33.10 | (0.42) | (0.37) | (0.79) | — | — | (2.95) | (2.95) | — | (3.74) | 29.36 | (2.92) | 4,120 | 2.38 | 2.38 | (1.39) | 93 | |
7/1/18 to 6/30/19 | 45.13 | (0.45) | (3.57) | (4.02) | — | — | (8.01) | (8.01) | — | (12.03) | 33.10 | (5.37) | 7,354 | 2.37 | 2.37 | (1.18) | 85 | |
7/1/17 to 6/30/18 | 42.62 | (0.57) | 7.35 | 6.78 | — | — | (4.27) | (4.27) | — | 2.51 | 45.13 (10) | 16.21 (10) | 19,630 | 2.37 | 2.37 | (1.25) | 77 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 57.32 | 0.09 | (11.75) | (11.66) | — | — | (13.53) | (13.53) | — | (25.19) | $ 32.13 | (25.87) % | $ 2,067 | 1.30 % (8) | 1.30 % | 0.20 % | 90 % | |
7/1/20 to 6/30/21 | 38.89 | (0.19) | 20.79 | 20.60 | — | — | (2.17) | (2.17) | — | 18.43 | 57.32 | 53.64 | 3,609 | 1.35 (8) | 1.35 | (0.38) | 106 | |
7/1/19 to 6/30/20 | 42.51 | (0.18) | (0.49) | (0.67) | — | — | (2.95) | (2.95) | — | (3.62) | 38.89 | (1.96) | 4,444 | 1.37 | 1.37 | (0.44) | 93 | |
7/1/18 to 6/30/19 | 54.57 | (0.06) | (3.99) | (4.05) | — | — | (8.01) | (8.01) | — | (12.06) | 42.51 | (4.40) | 11,675 | 1.37 | 1.37 | (0.13) | 85 | |
7/1/17 to 6/30/18 | 50.40 | (0.15) | 8.75 | 8.60 | (0.16) | — | (4.27) | (4.43) | — | 4.17 | 54.57 (10) | 17.36 (10) | 18,262 | 1.37 | 1.37 | (0.27) | 77 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 58.13 | 0.11 | (11.97) | (11.86) | — | — | (13.53) | (13.53) | — | (25.39) | $ 32.74 | (25.86) % | $ 25,453 | 1.28 % | 1.29 % | 0.23 % | 90 % | |
7/1/20 to 6/30/21 | 39.39 | (0.10) | 21.01 | 20.91 | — | — | (2.17) | (2.17) | — | 18.74 | 58.13 | 53.75 | 40,486 | 1.27 (6) | 1.30 | (0.20) | 106 | |
7/1/19 to 6/30/20 | 42.97 | (0.13) | (0.50) | (0.63) | — | — | (2.95) | (2.95) | — | (3.58) | 39.39 | (1.84) | 29,849 | 1.27 | 1.27 | (0.32) | 93 | |
7/1/18 to 6/30/19 | 55.01 | 0.01 | (4.04) | (4.03) | — | — | (8.01) | (8.01) | — | (12.04) | 42.97 | (4.32) | 67,916 | 1.27 | 1.27 | 0.01 | 85 | |
7/1/17 to 6/30/18 | 50.77 | (0.09) | 8.81 | 8.72 | (0.21) | — | (4.27) | (4.48) | — | 4.24 | 55.01 (10) | 17.48 (10) | 98,623 | 1.27 | 1.27 | (0.17) | 77 | |
Health Sciences Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 38.11 | (0.03) | (0.65) | (0.68) | — | — | (7.49) | (7.49) | — | (8.17) | $ 29.94 | (3.75) % | $ 149,236 | 1.37 % (8) | 1.37 % | (0.08) % | 114 % | |
7/1/20 to 6/30/21 | 34.21 | (0.01) | 8.76 | 8.75 | (0.03) | — | (4.82) | (4.85) | — | 3.90 | 38.11 | 27.66 | 169,577 | 1.43 (8) | 1.43 | (0.04) | 102 | |
7/1/19 to 6/30/20 | 32.27 | 0.05 | 4.22 | 4.27 | (0.01) | — | (2.32) | (2.33) | — | 1.94 | 34.21 | 13.37 | 148,223 | 1.47 | 1.47 | 0.15 | 91 | |
7/1/18 to 6/30/19 | 33.27 | 0.02 | 3.57 | 3.59 | (0.31) | — | (4.28) | (4.59) | — | (1.00) | 32.27 | 13.14 | 147,068 | 1.47 | 1.47 | 0.06 | 102 | |
7/1/17 to 6/30/18 | 31.61 | (0.02) | 1.68 | 1.66 | — | — | — | — | — | 1.66 | 33.27 | 5.25 | 141,122 | 1.47 | 1.47 | (0.05) | 55 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 26.74 | (0.19) | (0.23) | (0.42) | — | — | (7.49) | (7.49) | — | (7.91) | $ 18.83 | (4.47) % | $ 3,469 | 2.13 % (8) | 2.13 % | (0.82) % | 114 % | |
7/1/20 to 6/30/21 | 25.44 | (0.21) | 6.33 | 6.12 | — (7) | — | (4.82) | (4.82) | — | 1.30 | 26.74 | 26.73 | 3,758 | 2.18 (8) | 2.18 | (0.80) | 102 | |
7/1/19 to 6/30/20 | 24.71 | (0.15) | 3.20 | 3.05 | — | — | (2.32) | (2.32) | — | 0.73 | 25.44 | 12.52 | 4,221 | 2.22 | 2.22 | (0.60) | 91 | |
7/1/18 to 6/30/19 | 26.43 | (0.19) | 2.75 | 2.56 | — | — | (4.28) | (4.28) | — | (1.72) | 24.71 | 12.34 | 4,131 | 2.22 | 2.22 | (0.75) | 102 | |
7/1/17 to 6/30/18 | 25.30 | (0.21) | 1.34 | 1.13 | — | — | — | — | — | 1.13 | 26.43 | 4.47 | 8,218 | 2.22 | 2.22 | (0.81) | 55 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 38.79 | 0.13 | (0.72) | (0.59) | — | — | (7.49) | (7.49) | — | (8.08) | $ 30.71 | (3.42) % | $ 2,125 | 1.04 % (8) | 1.04 % | 0.39 % | 114 % | |
7/13/20 (11) to 6/30/21 | 35.14 | 0.09 | 8.62 | 8.71 | (0.24) | — | (4.82) | (5.06) | — | 3.65 | 38.79 | 26.91 | 880 | 1.13 (8) | 1.13 | 0.25 | 102 (12) | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 38.87 | 0.04 | (0.67) | (0.63) | — | — | (7.49) | (7.49) | — | (8.12) | $ 30.75 | (3.53) % | $ 23,444 | 1.12 % | 1.14 % | 0.11 % | 114 % | |
7/1/20 to 6/30/21 | 34.85 | 0.10 | 8.94 | 9.04 | (0.20) | — | (4.82) | (5.02) | — | 4.02 | 38.87 | 28.07 | 21,122 | 1.12 | 1.14 | 0.28 | 102 | |
7/1/19 to 6/30/20 | 32.76 | 0.15 | 4.30 | 4.45 | (0.04) | — | (2.32) | (2.36) | — | 2.09 | 34.85 | 13.76 | 11,182 | 1.12 | 1.12 | 0.45 | 91 | |
7/1/18 to 6/30/19 | 33.69 | 0.13 | 3.63 | 3.76 | (0.41) | — | (4.28) | (4.69) | — | (0.93) | 32.76 | 13.54 | 4,290 | 1.12 | 1.12 | 0.39 | 102 | |
7/1/17 to 6/30/18 | 31.90 | 0.10 | 1.69 | 1.79 | — | — | — | — | — | 1.79 | 33.69 | 5.61 | 2,854 | 1.12 | 1.12 | 0.29 | 55 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
Income & Growth Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 13.26 | 0.16 | (2.38) | (2.22) | (0.19) | — | (0.65) | (0.84) | — | (3.06) | $ 10.20 | (17.65) % | $1,963,340 | 1.14 % (8) | 1.14 % | 1.28 % | 70 % | |
7/1/20 to 6/30/21 | 10.89 | 0.14 | 3.07 | 3.21 | (0.19) | — | (0.65) | (0.84) | — | 2.37 | 13.26 | 30.29 | 2,403,182 | 1.19 (6)(8) | 1.22 | 1.11 | 83 | |
7/1/19 to 6/30/20 | 11.01 | 0.18 | 0.54 | 0.72 | (0.21) | — | (0.63) | (0.84) | — | (0.12) | 10.89 | 6.98 | 1,631,126 | 1.28 | 1.29 | 1.65 | 93 | |
7/1/18 to 6/30/19 | 11.34 | 0.20 | 0.38 | 0.58 | (0.25) | — | (0.66) | (0.91) | — | (0.33) | 11.01 (10) | 5.45 (10) | 1,458,642 | 1.28 | 1.29 | 1.84 | 66 | |
7/1/17 to 6/30/18 | 11.24 | 0.23 | 0.82 | 1.05 | (0.28) | — | (0.67) | (0.95) | — | 0.10 | 11.34 | 9.58 | 1,250,639 | 1.28 | 1.29 | 1.99 | 102 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 11.94 | 0.06 | (2.14) | (2.08) | (0.11) | — | (0.65) | (0.76) | — | (2.84) | $ 9.10 | (18.31) % | $1,096,937 | 1.90 % (8) | 1.90 % | 0.51 % | 70 % | |
7/1/20 to 6/30/21 | 9.89 | 0.04 | 2.78 | 2.82 | (0.12) | — | (0.65) | (0.77) | — | 2.05 | 11.94 | 29.31 | 1,467,948 | 1.95 (6)(8) | 1.98 | 0.36 | 83 | |
7/1/19 to 6/30/20 | 10.07 | 0.09 | 0.50 | 0.59 | (0.14) | — | (0.63) | (0.77) | — | (0.18) | 9.89 | 6.31 | 1,215,780 | 2.03 | 2.04 | 0.90 | 93 | |
7/1/18 to 6/30/19 | 10.46 | 0.11 | 0.34 | 0.45 | (0.18) | — | (0.66) | (0.84) | — | (0.39) | 10.07 (10) | 4.60 (10) | 1,234,667 | 2.03 | 2.04 | 1.09 | 66 | |
7/1/17 to 6/30/18 | 10.44 | 0.13 | 0.76 | 0.89 | (0.20) | — | (0.67) | (0.87) | — | 0.02 | 10.46 | 8.78 | 1,116,788 | 2.03 | 2.04 | 1.24 | 102 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 13.67 | 0.19 | (2.46) | (2.27) | (0.21) | — | (0.65) | (0.86) | — | (3.13) | $ 10.54 | (17.47) % | $1,176,186 | 0.91 % (8) | 0.91 % | 1.49 % | 70 % | |
7/1/20 to 6/30/21 | 11.20 | 0.17 | 3.17 | 3.34 | (0.22) | — | (0.65) | (0.87) | — | 2.47 | 13.67 | 30.61 | 1,822,852 | 0.95 (6)(8) | 0.98 | 1.35 | 83 | |
7/1/19 to 6/30/20 | 11.29 | 0.21 | 0.57 | 0.78 | (0.24) | — | (0.63) | (0.87) | — | (0.09) | 11.20 | 7.32 | 1,253,364 | 1.03 | 1.04 | 1.90 | 93 | |
7/1/18 to 6/30/19 | 11.61 | 0.23 | 0.38 | 0.61 | (0.27) | — | (0.66) | (0.93) | — | (0.32) | 11.29 (10) | 5.64 (10) | 1,122,083 | 1.03 | 1.04 | 2.09 | 66 | |
7/1/17 to 6/30/18 | 11.48 | 0.26 | 0.84 | 1.10 | (0.30) | — | (0.67) | (0.97) | — | 0.13 | 11.61 | 9.90 | 897,716 | 1.03 | 1.04 | 2.24 | 102 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 13.83 | 0.20 | (2.50) | (2.30) | (0.21) | — | (0.65) | (0.86) | — | (3.16) | $ 10.67 | (17.48) % | $1,236,562 | 0.92 % (8) | 0.92 % | 1.51 % | 70 % | |
7/1/20 to 6/30/21 | 11.32 | 0.18 | 3.20 | 3.38 | (0.22) | — | (0.65) | (0.87) | — | 2.51 | 13.83 | 30.71 | 1,315,140 | 0.90 (6) | 0.93 | 1.40 | 83 | |
7/1/19 to 6/30/20 | 11.41 | 0.22 | 0.57 | 0.79 | (0.25) | — | (0.63) | (0.88) | — | (0.09) | 11.32 | 7.35 | 798,280 | 0.93 | 0.94 | 2.00 | 93 | |
7/1/18 to 6/30/19 | 11.72 | 0.25 | 0.38 | 0.63 | (0.28) | — | (0.66) | (0.94) | — | (0.31) | 11.41 (10) | 5.78 (10) | 702,741 | 0.93 | 0.94 | 2.19 | 66 | |
7/1/17 to 6/30/18 | 11.58 | 0.28 | 0.84 | 1.12 | (0.31) | — | (0.67) | (0.98) | — | 0.14 | 11.72 | 10.00 | 460,024 | 0.93 | 0.94 | 2.34 | 102 | |
Mid-Cap Growth Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 5.94 | (0.02) | (1.44) | (1.46) | — | — | (1.59) | (1.59) | — | (3.05) | $ 2.89 | (33.42) % | $ 223,611 | 0.98 % (8) | 0.98 % | (0.49) % | 65 % | |
7/1/20 to 6/30/21 | 4.30 | (0.04) | 2.26 | 2.22 | — | — | (0.58) | (0.58) | — (7) | 1.64 | 5.94 | 53.25 (13) | 376,649 | 1.06 (8) | 1.06 | (0.76) | 85 | |
7/1/19 to 6/30/20 | 3.75 | (0.02) | 0.75 | 0.73 | — | — | (0.18) | (0.18) | — | 0.55 | 4.30 | 20.15 | 263,361 | 1.14 | 1.14 | (0.66) | 53 | |
7/1/18 to 6/30/19 | 3.88 | (0.02) | 0.37 | 0.35 | — | — | (0.48) | (0.48) | — | (0.13) | 3.75 | 13.58 | 240,017 | 1.14 | 1.14 | (0.66) | 60 | |
7/1/17 to 6/30/18 | 3.74 | (0.02) | 0.54 | 0.52 | — | — | (0.38) | (0.38) | — | 0.14 | 3.88 | 14.14 | 116,673 | 1.13 | 1.13 | (0.48) | 79 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 4.45 | (0.04) | (0.94) | (0.98) | — | — | (1.59) | (1.59) | — | (2.57) | $ 1.88 | (33.91) % | $ 6,350 | 1.74 % (8) | 1.74 % | (1.26) % | 65 % | |
7/1/20 to 6/30/21 | 3.35 | (0.06) | 1.74 | 1.68 | — | — | (0.58) | (0.58) | — (7) | 1.10 | 4.45 | 52.17 (13) | 15,282 | 1.82 (8) | 1.82 | (1.52) | 85 | |
7/1/19 to 6/30/20 | 2.98 | (0.04) | 0.59 | 0.55 | — | — | (0.18) | (0.18) | — | 0.37 | 3.35 | 19.29 | 15,495 | 1.89 | 1.89 | (1.41) | 53 | |
7/1/18 to 6/30/19 | 3.23 | (0.04) | 0.27 | 0.23 | — | — | (0.48) | (0.48) | — | (0.25) | 2.98 | 12.56 | 21,251 | 1.89 | 1.89 | (1.34) | 60 | |
7/1/17 to 6/30/18 | 3.19 | (0.04) | 0.46 | 0.42 | — | — | (0.38) | (0.38) | — | 0.04 | 3.23 | 13.40 | 142,931 | 1.88 | 1.88 | (1.23) | 79 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
Mid-Cap Growth Fund (Continued) | ||||||||||||||||||
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 7.10 | (0.02) | (1.82) | (1.84) | — | — | (1.59) | (1.59) | — | (3.43) | $ 3.67 | (33.30) % | $ 6,195 | 0.78 % (8) | 0.78 % | (0.34) % | 65 % | |
7/1/20 to 6/30/21 | 5.05 | (0.03) | 2.66 | 2.63 | — | — | (0.58) | (0.58) | — (7) | 2.05 | 7.10 | 53.49 (13) | 30,526 | 0.81 (8) | 0.81 | (0.50) | 85 | |
7/1/19 to 6/30/20 | 4.36 | (0.02) | 0.89 | 0.87 | — | — | (0.18) | (0.18) | — | 0.69 | 5.05 | 20.56 | 13,670 | 0.89 | 0.89 | (0.41) | 53 | |
7/1/18 to 6/30/19 | 4.41 | (0.02) | 0.45 | 0.43 | — | — | (0.48) | (0.48) | — | (0.05) | 4.36 | 13.79 | 11,617 | 0.89 | 0.89 | (0.39) | 60 | |
7/1/17 to 6/30/18 | 4.19 | (0.01) | 0.61 | 0.60 | — | — | (0.38) | (0.38) | — | 0.22 | 4.41 | 14.56 | 11,189 | 0.88 | 0.88 | (0.23) | 79 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 7.18 | (0.01) | (1.86) | (1.87) | — | — | (1.59) | (1.59) | — | (3.46) | $ 3.72 | (33.33) % | $ 47,978 | 0.76 % (8) | 0.76 % | (0.25) % | 65 % | |
7/1/20 to 6/30/21 | 5.09 | (0.03) | 2.70 | 2.67 | — | — | (0.58) | (0.58) | — (7) | 2.09 | 7.18 | 53.86 (13) | 63,690 | 0.78 (8) | 0.78 | (0.48) | 85 | |
7/1/19 to 6/30/20 | 4.39 | (0.01) | 0.89 | 0.88 | — | — | (0.18) | (0.18) | — | 0.70 | 5.09 | 20.64 | 54,793 | 0.79 | 0.79 | (0.31) | 53 | |
7/1/18 to 6/30/19 | 4.43 | (0.01) | 0.45 | 0.44 | — | — | (0.48) | (0.48) | — | (0.04) | 4.39 | 13.97 | 36,373 | 0.79 | 0.79 | (0.29) | 60 | |
7/1/17 to 6/30/18 | 4.21 | (0.01) | 0.61 | 0.60 | — | — | (0.38) | (0.38) | — | 0.22 | 4.43 | 14.47 | 31,876 | 0.78 | 0.78 | (0.13) | 79 | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 6.43 | (0.03) | (1.60) | (1.63) | — | — | (1.59) | (1.59) | — | (3.22) | $ 3.21 | (33.52) % | $ 1,727 | 1.04 % | 1.05 % | (0.55) % | 65 % | |
7/1/20 to 6/30/21 | 4.62 | (0.04) | 2.43 | 2.39 | — | — | (0.58) | (0.58) | — (7) | 1.81 | 6.43 | 53.26 (13) | 2,881 | 0.99 (8) | 0.99 | (0.69) | 85 | |
7/1/19 to 6/30/20 | 4.01 | (0.02) | 0.81 | 0.79 | — | — | (0.18) | (0.18) | — | 0.61 | 4.62 | 20.34 | 1,748 | 1.04 | 1.04 | (0.56) | 53 | |
7/1/18 to 6/30/19 | 4.11 | (0.02) | 0.40 | 0.38 | — | — | (0.48) | (0.48) | — | (0.10) | 4.01 | 13.61 | 1,525 | 1.04 | 1.04��� | (0.54) | 60 | |
7/1/17 to 6/30/18 | 3.94 | (0.02) | 0.57 | 0.55 | — | — | (0.38) | (0.38) | — | 0.17 | 4.11 | 14.19 | 1,441 | 1.03 | 1.03 | (0.40) | 79 | |
NFJ Dividend Value Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 12.73 | 0.18 | (0.61) | (0.43) | (0.18) | — | (0.68) | (0.86) | — | (1.29) | $ 11.44 | (4.16) % | $ 365,634 | 1.01 % (8) | 1.01 % | 1.40 % | 65 % | |
7/1/20 to 6/30/21 | 9.67 | 0.15 | 3.07 | 3.22 | (0.16) | — | — (7) | (0.16) | — | 3.06 | 12.73 | 33.47 | 422,719 | 1.02 (6)(8) | 1.06 | 1.36 | 67 | |
7/1/19 to 6/30/20 | 12.11 | 0.19 | (1.01) | (0.82) | (0.20) | — | (1.42) | (1.62) | — | (2.44) | 9.67 | (8.54) | 329,828 | 1.04 | 1.12 | 1.74 | 139 | |
7/1/18 to 6/30/19 | 14.76 | 0.26 | (0.05) | 0.21 | (0.26) | — | (2.60) | (2.86) | — | (2.65) | 12.11 | 4.39 | 453,255 | 1.01 | 1.11 | 1.97 | 52 | |
7/1/17 to 6/30/18 | 17.20 | 0.27 | 1.45 | 1.72 | (0.28) | — | (3.88) | (4.16) | — | (2.44) | 14.76 | 9.55 | 480,068 | 0.95 | 1.10 | 1.66 | 47 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 13.04 | 0.09 | (0.64) | (0.55) | (0.07) | — | (0.68) | (0.75) | — | (1.30) | $ 11.74 | (4.91) % | $ 12,496 | 1.72 % (8) | 1.72 % | 0.68 % | 65 % | |
7/1/20 to 6/30/21 | 9.88 | 0.07 | 3.14 | 3.21 | (0.05) | — | — (7) | (0.05) | — | 3.16 | 13.04 | 32.53 | 18,956 | 1.77 (6)(8) | 1.82 | 0.59 | 67 | |
7/1/19 to 6/30/20 | 12.32 | 0.11 | (1.02) | (0.91) | (0.11) | — | (1.42) | (1.53) | — | (2.44) | 9.88 | (9.17) | 38,900 | 1.79 | 1.87 | 0.98 | 139 | |
7/1/18 to 6/30/19 | 14.92 | 0.17 | (0.05) | 0.12 | (0.12) | — | (2.60) | (2.72) | — | (2.60) | 12.32 | 3.56 | 75,395 | 1.76 | 1.86 | 1.23 | 52 | |
7/1/17 to 6/30/18 | 17.34 | 0.15 | 1.46 | 1.61 | (0.15) | — | (3.88) | (4.03) | — | (2.42) | 14.92 | 8.77 | 231,933 | 1.70 | 1.85 | 0.91 | 47 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 12.87 | 0.22 | (0.63) | (0.41) | (0.21) | — | (0.68) | (0.89) | — | (1.30) | $ 11.57 | (3.93) % | $ 153,578 | 0.72 % (8) | 0.72 % | 1.68 % | 65 % | |
7/1/20 to 6/30/21 | 9.77 | 0.18 | 3.10 | 3.28 | (0.18) | — | — (7) | (0.18) | — | 3.10 | 12.87 | 33.79 | 210,888 | 0.76 (6)(8) | 0.81 | 1.60 | 67 | |
7/1/19 to 6/30/20 | 12.21 | 0.23 | (1.02) | (0.79) | (0.23) | — | (1.42) | (1.65) | — | (2.44) | 9.77 | (8.23) | 221,250 | 0.79 | 0.87 | 1.98 | 139 | |
7/1/18 to 6/30/19 | 14.87 | 0.30 | (0.05) | 0.25 | (0.31) | — | (2.60) | (2.91) | — | (2.66) | 12.21 | 4.62 | 378,642 | 0.76 | 0.86 | 2.22 | 52 | |
7/1/17 to 6/30/18 | 17.30 | 0.32 | 1.45 | 1.77 | (0.32) | — | (3.88) | (4.20) | — | (2.43) | 14.87 | 9.83 | 551,096 | 0.70 | 0.85 | 1.91 | 47 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
NFJ Dividend Value Fund (Continued) | ||||||||||||||||||
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 12.85 | 0.22 | (0.63) | (0.41) | (0.21) | — | (0.68) | (0.89) | — | (1.30) | $ 11.55 | (3.95) % | $ 91,990 | 0.70 % | 0.75 % | 1.71 % | 65 % | |
7/1/20 to 6/30/21 | 9.75 | 0.19 | 3.10 | 3.29 | (0.19) | — | — (7) | (0.19) | — | 3.10 | 12.85 | 33.95 | 122,996 | 0.70 | 0.75 | 1.67 | 67 | |
7/1/19 to 6/30/20 | 12.20 | 0.24 | (1.03) | (0.79) | (0.24) | — | (1.42) | (1.66) | — | (2.45) | 9.75 | (8.24) | 117,755 | 0.69 | 0.77 | 2.07 | 139 | |
7/1/18 to 6/30/19 | 14.87 | 0.31 | (0.05) | 0.26 | (0.33) | — | (2.60) | (2.93) | — | (2.67) | 12.20 | 4.75 | 263,357 | 0.66 | 0.76 | 2.32 | 52 | |
7/1/17 to 6/30/18 | 17.30 | 0.34 | 1.45 | 1.79 | (0.34) | — | (3.88) | (4.22) | — | (2.43) | 14.87 | 9.94 | 438,422 | 0.60 | 0.75 | 2.03 | 47 | |
Class R6 | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 12.79 | 0.23 | (0.63) | (0.40) | (0.22) | — | (0.68) | (0.90) | — | (1.30) | $ 11.49 | (3.85) % | $ 72,399 | 0.63 % (8) | 0.63 % | 1.78 % | 65 % | |
7/1/20 to 6/30/21 | 9.71 | 0.19 | 3.08 | 3.27 | (0.19) | — | — (7) | (0.19) | — | 3.08 | 12.79 | 33.98 | 82,578 | 0.64 (6) | 0.69 | 1.72 | 67 | |
7/1/19 to 6/30/20 | 12.15 | 0.24 | (1.02) | (0.78) | (0.24) | — | (1.42) | (1.66) | — | (2.44) | 9.71 | (8.12) | 60,490 | 0.64 | 0.72 | 2.15 | 139 | |
7/1/18 to 6/30/19 | 14.83 | 0.31 | (0.04) | 0.27 | (0.35) | — | (2.60) | (2.95) | — | (2.68) | 12.15 | 4.82 | 65,935 | 0.61 | 0.71 | 2.38 | 52 | |
7/1/17 to 6/30/18 | 17.27 | 0.34 | 1.45 | 1.79 | (0.35) | — | (3.88) | (4.23) | — | (2.44) | 14.83 | 9.96 | 85,285 | 0.55 | 0.70 | 2.06 | 47 | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 13.12 | 0.19 | (0.64) | (0.45) | (0.19) | — | (0.68) | (0.87) | — | (1.32) | $ 11.80 | (4.20) % | $ 33,060 | 0.95 % | 0.99 % | 1.46 % | 65 % | |
7/1/20 to 6/30/21 | 9.96 | 0.17 | 3.15 | 3.32 | (0.16) | — | — (7) | (0.16) | — | 3.16 | 13.12 | 33.55 | 33,289 | 0.94 (6) | 0.98 | 1.44 | 67 | |
7/1/19 to 6/30/20 | 12.41 | 0.21 | (1.03) | (0.82) | (0.21) | — | (1.42) | (1.63) | — | (2.45) | 9.96 | (8.33) | 25,794 | 0.94 | 1.02 | 1.84 | 139 | |
7/1/18 to 6/30/19 | 15.04 | 0.28 | (0.05) | 0.23 | (0.26) | — | (2.60) | (2.86) | — | (2.63) | 12.41 | 4.42 | 47,049 | 0.91 | 1.01 | 2.07 | 52 | |
7/1/17 to 6/30/18 | 17.41 | 0.32 | 1.43 | 1.75 | (0.24) | — | (3.88) | (4.12) | — | (2.37) | 15.04 | 9.67 | 84,009 | 0.85 | 1.00 | 1.87 | 47 | |
NFJ International Value Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 22.93 | 0.40 | (5.10) | (4.70) | (0.40) | — | — | (0.40) | — | (5.10) | $ 17.83 | (20.78) % | $ 50,307 | 1.30 % | 1.33 % | 1.90 % | 66 % | |
7/1/20 to 6/30/21 | 16.86 | 0.28 | 6.15 | 6.43 | (0.36) | — | — | (0.36) | — | 6.07 | 22.93 | 38.47 | 73,311 | 1.30 (6)(8) | 1.34 | 1.38 | 116 | |
7/1/19 to 6/30/20 | 18.47 | 0.36 | (1.58) | (1.22) | (0.39) | — | — | (0.39) | — | (1.61) | 16.86 | (6.66) | 55,297 | 1.30 | 1.37 | 2.06 | 91 | |
7/1/18 to 6/30/19 | 18.52 | 0.33 | (0.08) | 0.25 | (0.30) | — | — | (0.30) | — | (0.05) | 18.47 | 1.44 | 71,931 | 1.30 | 1.38 | 1.84 | 49 | |
7/1/17 to 6/30/18 | 18.13 | 0.34 | 0.38 | 0.72 | (0.32) | (0.01) | — | (0.33) | — | 0.39 | 18.52 | 3.95 | 88,385 | 1.29 | 1.37 | 1.76 | 63 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 22.51 | 0.25 | (5.00) | (4.75) | (0.29) | — | — | (0.29) | — | (5.04)�� | $ 17.47 | (21.32) % | $ 1,724 | 2.02 % (8) | 2.02 % | 1.21 % | 66 % | |
7/1/20 to 6/30/21 | 16.57 | 0.11 | 6.04 | 6.15 | (0.21) | — | — | (0.21) | — | 5.94 | 22.51 | 37.40 | 3,576 | 2.02 (8) | 2.07 | 0.56 | 116 | |
7/1/19 to 6/30/20 | 18.15 | 0.22 | (1.54) | (1.32) | (0.26) | — | — | (0.26) | — | (1.58) | 16.57 | (7.33) | 7,488 | 2.05 | 2.12 | 1.27 | 91 | |
7/1/18 to 6/30/19 | 18.20 | 0.17 | (0.04) | 0.13 | (0.18) | — | — | (0.18) | — | (0.05) | 18.15 | 0.76 | 13,926 | 2.05 | 2.13 | 0.98 | 49 | |
7/1/17 to 6/30/18 | 17.86 | 0.19 | 0.37 | 0.56 | (0.21) | (0.01) | — | (0.22) | — | 0.34 | 18.20 | 3.11 | 36,184 | 2.04 | 2.12 | 0.99 | 63 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 23.09 | 0.47 | (5.13) | (4.66) | (0.47) | — | — | (0.47) | — | (5.13) | $ 17.96 | (20.52) % | $ 17,205 | 1.01 % (8) | 1.01 % | 2.20 % | 66 % | |
7/1/20 to 6/30/21 | 16.96 | 0.34 | 6.19 | 6.53 | (0.40) | — | — | (0.40) | — | 6.13 | 23.09 | 38.86 | 26,708 | 1.03 (6)(8) | 1.07 | 1.65 | 116 | |
7/1/19 to 6/30/20 | 18.58 | 0.41 | (1.60) | (1.19) | (0.43) | — | — | (0.43) | — | (1.62) | 16.96 | (6.45) | 22,912 | 1.05 | 1.12 | 2.29 | 91 | |
7/1/18 to 6/30/19 | 18.61 | 0.35 | (0.04) | 0.31 | (0.34) | — | — | (0.34) | — | (0.03) | 18.58 | 1.76 | 38,655 | 1.05 | 1.13 | 1.93 | 49 | |
7/1/17 to 6/30/18 | 18.21 | 0.36 | 0.41 | 0.77 | (0.36) | (0.01) | — | (0.37) | — | 0.40 | 18.61 | 4.17 | 89,644 | 1.04 | 1.12 | 1.87 | 63 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
NFJ International Value Fund (Continued) | ||||||||||||||||||
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 23.11 | 0.48 | (5.14) | (4.66) | (0.49) | — | — | (0.49) | — | (5.15) | $ 17.96 | (20.52) % | $ 38,243 | 0.95 % | 0.98 % | 2.25 % | 66 % | |
7/1/20 to 6/30/21 | 16.98 | 0.36 | 6.19 | 6.55 | (0.42) | — | — | (0.42) | — | 6.13 | 23.11 | 38.95 | 48,096 | 0.95 | 1.00 | 1.76 | 116 | |
7/1/19 to 6/30/20 | 18.60 | 0.43 | (1.60) | (1.17) | (0.45) | — | — | (0.45) | — | (1.62) | 16.98 | (6.33) | 37,009 | 0.95 | 1.02 | 2.41 | 91 | |
7/1/18 to 6/30/19 | 18.64 | 0.41 | (0.08) | 0.33 | (0.37) | — | — | (0.37) | — | (0.04) | 18.60 | 1.84 | 46,473 | 0.95 | 1.03 | 2.24 | 49 | |
7/1/17 to 6/30/18 | 18.24 | 0.42 | 0.36 | 0.78 | (0.37) | (0.01) | — | (0.38) | — | 0.40 | 18.64 | 4.27 | 55,924 | 0.94 | 1.02 | 2.14 | 63 | |
Class R6 | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 23.08 | 0.51 | (5.15) | (4.64) | (0.49) | — | — | (0.49) | — | (5.13) | $ 17.95 | (20.42) % | $ 3,477 | 0.90 % | 0.93 % | 2.40 % | 66 % | |
7/1/20 to 6/30/21 | 16.97 | 0.41 | 6.13 | 6.54 | (0.43) | — | — | (0.43) | — | 6.11 | 23.08 | 38.97 | 2,741 | 0.90 | 0.95 | 1.96 | 116 | |
7/1/19 to 6/30/20 | 18.59 | 0.44 | (1.60) | (1.16) | (0.46) | — | — | (0.46) | — | (1.62) | 16.97 | (6.28) | 1,230 | 0.90 | 0.97 | 2.47 | 91 | |
7/1/18 to 6/30/19 | 18.63 | 0.37 | (0.04) | 0.33 | (0.37) | — | — | (0.37) | — | (0.04) | 18.59 | 1.88 | 1,277 | 0.90 | 0.98 | 2.07 | 49 | |
7/1/17 to 6/30/18 | 18.19 | 0.29 | 0.50 | 0.79 | (0.34) | (0.01) | — | (0.35) | — | 0.44 | 18.63 | 4.31 | 1,836 | 0.89 | 0.97 | 1.48 | 63 | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 23.06 | 0.41 | (5.11) | (4.70) | (0.42) | — | — | (0.42) | — | (5.12) | $ 17.94 | (20.69) % | $ 1,514 | 1.20 % | 1.50 % | 1.91 % | 66 % | |
7/1/20 to 6/30/21 | 16.92 | 0.11 | 6.35 | 6.46 | (0.32) | — | — | (0.32) | — | 6.14 | 23.06 | 38.57 | 1,219 | 1.20 | 1.28 | 0.57 | 116 | |
7/1/19 to 6/30/20 | 18.54 | 0.38 | (1.59) | (1.21) | (0.41) | — | — | (0.41) | — | (1.62) | 16.92 | (6.58) | 1,147 | 1.20 | 1.27 | 2.17 | 91 | |
7/1/18 to 6/30/19 | 18.56 | 0.29 | 0.01 | 0.30 | (0.32) | — | — | (0.32) | — | (0.02) | 18.54 | 1.68 | 1,436 | 1.20 | 1.28 | 1.60 | 49 | |
7/1/17 to 6/30/18 | 18.19 | 0.38 | 0.35 | 0.73 | (0.35) | (0.01) | — | (0.36) | — | 0.37 | 18.56 | 4.01 | 4,829 | 1.19 | 1.27 | 1.96 | 63 | |
NFJ Large-Cap Value Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 33.12 | 0.24 | (2.09) | (1.85) | (0.20) | — | (1.91) | (2.11) | — | (3.96) | $ 29.16 | (6.36) % | $ 159,063 | 1.00 % (8) | 1.00 % | 0.71 % | 45 % | |
7/1/20 to 6/30/21 | 24.49 | 0.23 | 8.62 | 8.85 | (0.22) | — | — | (0.22) | — | 8.63 | 33.12 | 36.24 | 184,745 | 1.06 (8) | 1.06 | 0.79 | 69 | |
7/1/19 to 6/30/20 | 26.90 | 0.39 | (1.88) | (1.49) | (0.41) | — | (0.51) | (0.92) | — | (2.41) | 24.49 | (5.71) | 150,404 | 1.12 | 1.12 | 1.48 | 114 | |
7/1/18 to 6/30/19 | 26.14 | 0.41 | 0.79 | 1.20 | (0.39) | — | (0.05) | (0.44) | — | 0.76 | 26.90 | 4.67 | 178,311 | 1.12 | 1.12 | 1.57 | 68 | |
7/1/17 to 6/30/18 | 24.31 | 0.41 | 1.83 | 2.24 | (0.41) | — | — | (0.41) | — | 1.83 | 26.14 | 9.27 | 145,338 | 1.06 | 1.11 | 1.56 | 110 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 33.54 | (0.02) | (2.09) | (2.11) | (0.01) | — | (1.91) | (1.92) | — | (4.03) | $ 29.51 | (7.05) % | $ 2,775 | 1.76 % (8) | 1.76 % | (0.05) % | 45 % | |
7/1/20 to 6/30/21 | 24.82 | 0.02 | 8.73 | 8.75 | (0.03) | — | — | (0.03) | — | 8.72 | 33.54 | 35.24 | 4,056 | 1.81 (8) | 1.81 | 0.06 | 69 | |
7/1/19 to 6/30/20 | 27.23 | 0.19 | (1.88) | (1.69) | (0.21) | — | (0.51) | (0.72) | — | (2.41) | 24.82 | (6.41) | 7,854 | 1.87 | 1.87 | 0.73 | 114 | |
7/1/18 to 6/30/19 | 26.44 | 0.19 | 0.81 | 1.00 | (0.16) | — | (0.05) | (0.21) | — | 0.79 | 27.23 | 3.82 | 12,080 | 1.87 | 1.87 | 0.70 | 68 | |
7/1/17 to 6/30/18 | 24.57 | 0.22 | 1.86 | 2.08 | (0.21) | — | — | (0.21) | — | 1.87 | 26.44 | 8.49 | 62,232 | 1.81 | 1.86 | 0.82 | 110 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 33.46 | 0.32 | (2.11) | (1.79) | (0.27) | — | (1.91) | (2.18) | — | (3.97) | $ 29.49 | (6.10) % | $ 15,206 | 0.75 % (8) | 0.75 % | 0.95 % | 45 % | |
7/1/20 to 6/30/21 | 24.73 | 0.30 | 8.71 | 9.01 | (0.28) | — | — | (0.28) | — | 8.73 | 33.46 | 36.60 | 20,413 | 0.81 (8) | 0.81 | 1.04 | 69 | |
7/1/19 to 6/30/20 | 27.16 | 0.46 | (1.90) | (1.44) | (0.48) | — | (0.51) | (0.99) | — | (2.43) | 24.73 | (5.49) | 15,384 | 0.87 | 0.87 | 1.73 | 114 | |
7/1/18 to 6/30/19 | 26.38 | 0.48 | 0.81 | 1.29 | (0.46) | — | (0.05) | (0.51) | — | 0.78 | 27.16 | 4.95 | 19,097 | 0.87 | 0.87 | 1.80 | 68 | |
7/1/17 to 6/30/18 | 24.53 | 0.47 | 1.86 | 2.33 | (0.48) | — | — | (0.48) | — | 1.85 | 26.38 | 9.54 | 20,242 | 0.81 | 0.86 | 1.80 | 110 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
NFJ Large-Cap Value Fund (Continued) | ||||||||||||||||||
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 32.96 | 0.32 | (2.07) | (1.75) | (0.29) | — | (1.91) | (2.20) | — | (3.95) | $ 29.01 | (6.09) % | $ 113,368 | 0.74 % | 0.74 % | 0.98 % | 45 % | |
7/1/20 to 6/30/21 | 24.37 | 0.31 | 8.58 | 8.89 | (0.30) | — | — | (0.30) | — | 8.59 | 32.96 | 36.66 | 129,083 | 0.75 (8) | 0.75 | 1.09 | 69 | |
7/1/19 to 6/30/20 | 26.77 | 0.48 | (1.87) | (1.39) | (0.50) | — | (0.51) | (1.01) | — | (2.40) | 24.37 | (5.36) | 92,001 | 0.77 | 0.77 | 1.81 | 114 | |
7/1/18 to 6/30/19 | 26.02 | 0.50 | 0.79 | 1.29 | (0.49) | — | (0.05) | (0.54) | — | 0.75 | 26.77 | 5.02 | 132,572 | 0.77 | 0.77 | 1.91 | 68 | |
7/1/17 to 6/30/18 | 24.20 | 0.49 | 1.84 | 2.33 | (0.51) | — | — | (0.51) | — | 1.82 | 26.02 | 9.66 | 127,728 | 0.71 | 0.76 | 1.89 | 110 | |
Class R6 | ||||||||||||||||||
10/29/21 (11) to 6/30/22 | $ 35.37 | 0.25 | (4.47) | (4.22) | (0.25) | — | (1.91) | (2.16) | — | (6.38) | $ 28.99 | (12.65) % | $ 82 | 0.65 % | 0.78 % | 1.15 % | 45 % (12) | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 33.66 | 0.27 | (2.13) | (1.86) | (0.22) | — | (1.91) | (2.13) | — | (3.99) | $ 29.67 | (6.28) % | $ 460 | 0.93 % (8)(9) | 0.91 % | 0.79 % | 45 % | |
7/1/20 to 6/30/21 | 24.85 | 0.25 | 8.75 | 9.00 | (0.19) | — | — | (0.19) | — | 8.81 | 33.66 | 36.33 | 520 | 1.01 (6) | 1.02 | 0.89 | 69 | |
7/1/19 to 6/30/20 | 27.29 | 0.42 | (1.91) | (1.49) | (0.44) | — | (0.51) | (0.95) | — | (2.44) | 24.85 | (5.65) | 1,181 | 1.02 | 1.02 | 1.58 | 114 | |
7/1/18 to 6/30/19 | 26.51 | 0.45 | 0.80 | 1.25 | (0.42) | — | (0.05) | (0.47) | — | 0.78 | 27.29 | 4.77 | 1,381 | 1.02 | 1.02 | 1.66 | 68 | |
7/1/17 to 6/30/18 | 24.64 | 0.43 | 1.88 | 2.31 | (0.44) | — | — | (0.44) | — | 1.87 | 26.51 | 9.40 | 1,323 | 0.96 | 1.01 | 1.64 | 110 | |
NFJ Mid-Cap Value Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 35.54 | 0.24 | (2.18) | (1.94) | (0.25) | — | (3.92) | (4.17) | — | (6.11) | $ 29.43 | (6.83) % | $ 495,612 | 1.00 % | 1.10 % | 0.70 % | 76 % | |
7/1/20 to 6/30/21 | 25.72 | 0.30 | 9.83 | 10.13 | (0.26) | — | (0.05) | (0.31) | — | 9.82 | 35.54 | 39.60 | 596,144 | 1.00 | 1.16 | 0.98 | 96 | |
7/1/19 to 6/30/20 | 30.60 | 0.38 | (2.72) | (2.34) | (0.33) | — | (2.21) | (2.54) | — | (4.88) | 25.72 | (8.93) | 474,970 | 0.99 | 1.21 | 1.30 | 197 | |
7/1/18 to 6/30/19 | 30.06 | 0.44 | 0.54 | 0.98 | (0.31) | — | (0.13) | (0.44) | — | 0.54 | 30.60 | 3.46 | 595,707 | 0.99 | 1.21 | 1.48 | 81 | |
7/1/17 to 6/30/18 | 31.41 | 0.39 | 1.27 | 1.66 | (0.26) | — | (2.75) | (3.01) | — | (1.35) | 30.06 | 4.88 | 518,293 | 1.04 | 1.21 | 1.22 | 31 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 28.63 | (0.01) | (1.65) | (1.66) | (0.09) | — | (3.92) | (4.01) | — | (5.67) | $ 22.96 | (7.48) % | $ 28,379 | 1.75 % | 1.82 % | (0.05) % | 76 % | |
7/1/20 to 6/30/21 | 20.74 | 0.05 | 7.93 | 7.98 | (0.04) | — | (0.05) | (0.09) | — | 7.89 | 28.63 | 38.53 | 39,321 | 1.74 (6) | 1.90 | 0.21 | 96 | |
7/1/19 to 6/30/20 | 25.16 | 0.13 | (2.18) | (2.05) | (0.16) | — | (2.21) | (2.37) | — | (4.42) | 20.74 | (9.64) | 37,278 | 1.74 | 1.96 | 0.55 | 197 | |
7/1/18 to 6/30/19 | 24.62 | 0.13 | 0.54 | 0.67 | — | — | (0.13) | (0.13) | — | 0.54 | 25.16 | 2.73 | 48,176 | 1.74 | 1.96 | 0.54 | 81 | |
7/1/17 to 6/30/18 | 26.22 | 0.12 | 1.08 | 1.20 | (0.05) | — | (2.75) | (2.80) | — | (1.60) | 24.62 | 4.10 | 182,192 | 1.79 | 1.96 | 0.46 | 31 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 27.90 | 0.24 | (1.58) | (1.34) | (0.38) | — | (3.92) | (4.30) | — | (5.64) | $ 22.26 | (6.60) % | $ 99,992 | 0.75 % | 0.83 % | 0.90 % | 76 % | |
7/1/20 to 6/30/21 | 20.30 | 0.29 | 7.74 | 8.03 | (0.38) | — | (0.05) | (0.43) | — | 7.60 | 27.90 | 39.93 | 239,250 | 0.75 | 0.90 | 1.23 | 96 | |
7/1/19 to 6/30/20 | 24.68 | 0.36 | (2.10) | (1.74) | (0.43) | — | (2.21) | (2.64) | — | (4.38) | 20.30 | (8.72) | 211,729 | 0.74 | 0.96 | 1.57 | 197 | |
7/1/18 to 6/30/19 | 24.35 | 0.41 | 0.43 | 0.84 | (0.38) | — | (0.13) | (0.51) | — | 0.33 | 24.68 | 3.75 | 197,201 | 0.74 | 0.96 | 1.70 | 81 | |
7/1/17 to 6/30/18 | 26.01 | 0.37 | 1.10 | 1.47 | (0.38) | — | (2.75) | (3.13) | — | (1.66) | 24.35 | 5.17 | 200,081 | 0.77 | 0.96 | 1.46 | 31 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 38.28 | 0.39 | (2.38) | (1.99) | (0.38) | — | (3.92) | (4.30) | — | (6.29) | $ 31.99 | (6.49) % | $ 381,239 | 0.65 % | 0.81 % | 1.06 % | 76 % | |
7/1/20 to 6/30/21 | 27.70 | 0.44 | 10.59 | 11.03 | (0.40) | — | (0.05) | (0.45) | — | 10.58 | 38.28 | 40.11 | 460,452 | 0.65 | 0.84 | 1.33 | 96 | |
7/1/19 to 6/30/20 | 32.77 | 0.51 | (2.92) | (2.41) | (0.45) | — | (2.21) | (2.66) | — | (5.07) | 27.70 | (8.62) | 385,311 | 0.64 | 0.86 | 1.67 | 197 | |
7/1/18 to 6/30/19 | 32.15 | 0.58 | 0.57 | 1.15 | (0.40) | — | (0.13) | (0.53) | — | 0.62 | 32.77 | 3.83 | 406,173 | 0.64 | 0.86 | 1.82 | 81 | |
7/1/17 to 6/30/18 | 33.41 | 0.51 | 1.38 | 1.89 | (0.40) | — | (2.75) | (3.15) | — | (1.26) | 32.15 | 5.26 | 332,110 | 0.66 | 0.86 | 1.53 | 31 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
NFJ Mid-Cap Value Fund (Continued) | ||||||||||||||||||
Class R6 | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 38.24 | 0.41 | (2.38) | (1.97) | (0.38) | — | (3.92) | (4.30) | — | (6.27) | $ 31.97 | (6.45) % | $ 87,682 | 0.60 % | 0.72 % | 1.12 % | 76 % | |
7/1/20 to 6/30/21 | 27.68 | 0.45 | 10.59 | 11.04 | (0.43) | — | (0.05) | (0.48) | — | 10.56 | 38.24 | 40.17 | 85,969 | 0.60 | 0.78 | 1.37 | 96 | |
7/1/19 to 6/30/20 | 32.75 | 0.56 | (2.95) | (2.39) | (0.47) | — | (2.21) | (2.68) | — | (5.07) | 27.68 | (8.57) | 66,260 | 0.59 | 0.81 | 1.86 | 197 | |
7/1/18 to 6/30/19 | 32.13 | 0.63 | 0.53 | 1.16 | (0.41) | ��� | (0.13) | (0.54) | — | 0.62 | 32.75 | 3.89 | 18,052 | 0.59 | 0.81 | 2.03 | 81 | |
12/18/17 (11) to 6/30/18 | 36.74 | 0.18 | (1.61) | (1.43) | (0.43) | — | (2.75) | (3.18) | — | (4.61) | 32.13 | (4.25) | 2,167 | 0.59 | 0.81 | 1.04 | 31 (12) | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 36.77 | 0.28 | (2.26) | (1.98) | (0.26) | — | (3.92) | (4.18) | — | (6.16) | $ 30.61 | (6.70) % | $ 34,212 | 0.90 % | 1.06 % | 0.80 % | 76 % | |
7/1/20 to 6/30/21 | 26.59 | 0.34 | 10.17 | 10.51 | (0.28) | — | (0.05) | (0.33) | — | 10.18 | 36.77 | 39.73 | 49,280 | 0.90 | 1.08 | 1.06 | 96 | |
7/1/19 to 6/30/20 | 31.57 | 0.42 | (2.81) | (2.39) | (0.38) | — | (2.21) | (2.59) | — | (4.98) | 26.59 | (8.85) | 33,511 | 0.89 | 1.11 | 1.43 | 197 | |
7/1/18 to 6/30/19 | 31.00 | 0.48 | 0.56 | 1.04 | (0.34) | — | (0.13) | (0.47) | — | 0.57 | 31.57 | 3.60 | 27,405 | 0.89 | 1.11 | 1.58 | 81 | |
7/1/17 to 6/30/18 | 32.35 | 0.42 | 1.32 | 1.74 | (0.34) | — | (2.75) | (3.09) | — | (1.35) | 31.00 | 4.98 | 18,947 | 0.92 | 1.11 | 1.32 | 31 | |
NFJ Small-Cap Value Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 15.67 | 0.10 | (1.66) | (1.56) | (0.17) | — | (1.14) | (1.31) | — | (2.87) | $ 12.80 | (11.08) % | $ 236,990 | 1.17 % | 1.21 % | 0.68 % | 52 % | |
7/1/20 to 6/30/21 | 11.07 | 0.18 | 4.71 | 4.89 | (0.24) | — | (0.05) | (0.29) | — | 4.60 | 15.67 | 44.57 | 325,048 | 1.18 (6)(8) | 1.23 | 1.34 | 65 | |
7/1/19 to 6/30/20 | 14.53 | 0.18 | (2.28) | (2.10) | (0.06) | — | (1.30) | (1.36) | — | (3.46) | 11.07 | (16.62) | 267,845 | 1.17 | 1.27 | 1.37 | 126 | |
7/1/18 to 6/30/19 | 21.71 | 0.29 | (2.73) | (2.44) | (0.62) | — | (4.12) | (4.74) | — | (7.18) | 14.53 | (7.70) | 439,710 | 1.18 | 1.26 | 1.65 | 47 | |
7/1/17 to 6/30/18 | 24.36 | 0.29 | 1.44 | 1.73 | (0.12) | — | (4.26) | (4.38) | — | (2.65) | 21.71 | 7.04 | 718,104 | 1.20 | 1.25 | 1.27 | 24 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 13.78 | (0.01) | (1.43) | (1.44) | (0.10) | — | (1.14) | (1.24) | — | (2.68) | $ 11.10 | (11.72) % | $ 1,347 | 1.92 % | 1.95 % | (0.06) % | 52 % | |
7/1/20 to 6/30/21 | 9.74 | 0.07 | 4.14 | 4.21 | (0.12) | — | (0.05) | (0.17) | — | 4.04 | 13.78 | 43.52 | 1,606 | 1.91 (8) | 1.97 | 0.60 | 65 | |
7/1/19 to 6/30/20 | 12.97 | 0.07 | (2.00) | (1.93) | — | — | (1.30) | (1.30) | — | (3.23) | 9.74 | (17.26) | 1,627 | 1.92 | 2.02 | 0.58 | 126 | |
7/1/18 to 6/30/19 | 19.30 | 0.16 | (2.41) | (2.25) | — | — | (4.08) (14) | (4.08) | — | (6.33) | 12.97 | (8.35) | 3,984 | 1.93 | 2.01 | 0.88 | 47 | |
7/1/17 to 6/30/18 | 22.14 | 0.11 | 1.31 | 1.42 | — | — | (4.26) | (4.26) | — | (2.84) | 19.30 | 6.26 | 106,052 | 1.95 | 2.00 | 0.54 | 24 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 18.42 | 0.17 | (1.97) | (1.80) | (0.18) | — | (1.14) | (1.32) | — | (3.12) | $ 15.30 | (10.73) % | $ 14,358 | 0.89 % (8) | 0.89 % | 0.95 % | 52 % | |
7/1/20 to 6/30/21 | 12.97 | 0.25 | 5.52 | 5.77 | (0.27) | — | (0.05) | (0.32) | — | 5.45 | 18.42 | 44.88 | 24,149 | 0.91 (8) | 0.96 | 1.61 | 65 | |
7/1/19 to 6/30/20 | 16.79 | 0.25 | (2.68) | (2.43) | (0.09) | — | (1.30) | (1.39) | — | (3.82) | 12.97 | (16.39) | 21,354 | 0.92 | 1.02 | 1.62 | 126 | |
7/1/18 to 6/30/19 | 24.18 | 0.38 | (2.97) | (2.59) | (0.68) | — | (4.12) | (4.80) | — | (7.39) | 16.79 | (7.49) | 39,426 | 0.93 | 1.01 | 1.91 | 47 | |
7/1/17 to 6/30/18 | 26.69 | 0.39 | 1.56 | 1.95 | (0.20) | — | (4.26) | (4.46) | — | (2.51) | 24.18 | 7.27 | 65,466 | 0.95 | 1.00 | 1.54 | 24 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 18.66 | 0.19 | (2.01) | (1.82) | (0.19) | — | (1.14) | (1.33) | — | (3.15) | $ 15.51 | (10.72) % | $ 58,704 | 0.82 % | 0.88 % | 1.03 % | 52 % | |
7/1/20 to 6/30/21 | 13.13 | 0.27 | 5.59 | 5.86 | (0.28) | — | (0.05) | (0.33) | — | 5.53 | 18.66 | 45.07 | 94,847 | 0.82 | 0.89 | 1.69 | 65 | |
7/1/19 to 6/30/20 | 16.95 | 0.27 | (2.72) | (2.45) | (0.07) | — | (1.30) | (1.37) | — | (3.82) | 13.13 | (16.31) | 99,894 | 0.82 | 0.92 | 1.67 | 126 | |
7/1/18 to 6/30/19 | 24.34 | 0.41 | (3.00) | (2.59) | (0.68) | — | (4.12) | (4.80) | — | (7.39) | 16.95 | (7.42) | 288,309 | 0.83 | 0.91 | 1.98 | 47 | |
7/1/17 to 6/30/18 | 26.82 | 0.42 | 1.58 | 2.00 | (0.22) | — | (4.26) | (4.48) | — | (2.48) | 24.34 | 7.43 | 778,547 | 0.85 | 0.90 | 1.61 | 24 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
NFJ Small-Cap Value Fund (Continued) | ||||||||||||||||||
Class R6 | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 18.49 | 0.19 | (1.97) | (1.78) | (0.22) | — | (1.14) | (1.36) | — | (3.14) | $ 15.35 | (10.63) % | $ 62,552 | 0.77 % | 0.79 % | 1.07 % | 52 % | |
7/1/20 to 6/30/21 | 13.02 | 0.27 | 5.55 | 5.82 | (0.30) | — | (0.05) | (0.35) | — | 5.47 | 18.49 | 45.09 | 88,986 | 0.77 | 0.84 | 1.73 | 65 | |
7/1/19 to 6/30/20 | 16.85 | 0.27 | (2.68) | (2.41) | (0.12) | — | (1.30) | (1.42) | — | (3.83) | 13.02 | (16.25) | 88,885 | 0.77 | 0.87 | 1.76 | 126 | |
7/1/18 to 6/30/19 | 24.25 | 0.41 | (2.99) | (2.58) | (0.70) | — | (4.12) | (4.82) | — | (7.40) | 16.85 | (7.37) | 150,200 | 0.78 | 0.86 | 2.04 | 47 | |
7/1/17 to 6/30/18 | 26.75 | 0.44 | 1.56 | 2.00 | (0.24) | — | (4.26) | (4.50) | — | (2.50) | 24.25 | 7.44 | 347,379 | 0.80 | 0.85 | 1.70 | 24 | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 15.66 | 0.12 | (1.65) | (1.53) | (0.20) | — | (1.14) | (1.34) | — | (2.87) | $ 12.79 | (10.95) % | $ 29,525 | 1.07 % | 1.09 % | 0.78 % | 52 % | |
7/1/20 to 6/30/21 | 11.02 | 0.20 | 4.70 | 4.90 | (0.21) | — | (0.05) | (0.26) | — | 4.64 | 15.66 | 44.81 | 37,759 | 1.07 | 1.32 | 1.45 | 65 | |
7/1/19 to 6/30/20 | 14.48 | 0.19 | (2.27) | (2.08) | (0.08) | — | (1.30) | (1.38) | — | (3.46) | 11.02 | (16.58) | 34,323 | 1.07 | 1.17 | 1.39 | 126 | |
7/1/18 to 6/30/19 | 21.65 | 0.30 | (2.73) | (2.43) | (0.62) | — | (4.12) | (4.74) | — | (7.17) | 14.48 | (7.64) | 107,836 | 1.08 | 1.16 | 1.74 | 47 | |
7/1/17 to 6/30/18 | 24.30 | 0.32 | 1.43 | 1.75 | (0.14) | — | (4.26) | (4.40) | — | (2.65) | 21.65 | 7.14 | 206,749 | 1.10 | 1.15 | 1.38 | 24 | |
Small-Cap Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 27.49 | 0.06 | (5.02) | (4.96) | (0.02) | — | (3.41) | (3.43) | — | (8.39) | $ 19.10 | (20.45) % | $ 64,567 | 1.17 % | 1.17 % | 0.23 % | 69 % | |
7/1/20 to 6/30/21 | 17.55 | (0.04) | 10.00 | 9.96 | (0.02) | — | — | (0.02) | — | 9.94 | 27.49 | 56.80 | 87,605 | 1.17 | 1.23 | (0.17) | 88 | |
7/1/19 to 6/30/20 | 19.50 | 0.04 | (1.98) | (1.94) | (0.01) | — | — | (0.01) | — | (1.95) | 17.55 (10) | (9.95) (10) | 58,062 | 1.17 | 1.27 | 0.23 | 110 | |
7/1/18 to 6/30/19 | 21.61 | 0.07 | (0.53) | (0.46) | (0.02) | — | (1.63) | (1.65) | — | (2.11) | 19.50 | (0.62) | 66,269 | 1.18 | 1.27 | 0.35 | 78 | |
7/1/17 to 6/30/18 | 20.51 | (0.02) | 3.92 | 3.90 | — | — | (2.80) | (2.80) | — | 1.10 | 21.61 | 19.96 | 44,860 | 1.31 | 1.31 | (0.07) | 126 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 25.99 | (0.12) | (4.68) | (4.80) | — | — | (3.41) | (3.41) | — | (8.21) | $ 17.78 | (21.04) % | $ 3,405 | 1.92 % | 1.95 % | (0.52) % | 69 % | |
7/1/20 to 6/30/21 | 16.70 | (0.20) | 9.49 | 9.29 | — (7) | — | — | — | — | 9.29 | 25.99 | 55.63 | 4,940 | 1.92 | 1.99 | (0.92) | 88 | |
7/1/19 to 6/30/20 | 18.68 | (0.09) | (1.89) | (1.98) | — | — | — | — | — | (1.98) | 16.70 (10) | (10.60) (10) | 4,251 | 1.92 | 2.02 | (0.53) | 110 | |
7/1/18 to 6/30/19 | 20.92 | (0.07) | (0.54) | (0.61) | — | — | (1.63) | (1.63) | — | (2.24) | 18.68 | (1.39) | 7,873 | 1.93 | 2.02 | (0.36) | 78 | |
7/1/17 to 6/30/18 | 20.07 | (0.17) | 3.82 | 3.65 | — | — | (2.80) | (2.80) | — | 0.85 | 20.92 | 19.10 | 35,080 | 2.06 | 2.06 | (0.82) | 126 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 27.82 | 0.10 | (5.07) | (4.97) | (0.02) | — | (3.41) | (3.43) | — | (8.40) | $ 19.42 | (20.24) % | $ 13,287 | 0.92 % (8)(9) | 0.92 % | 0.41 % | 69 % | |
7/1/20 to 6/30/21 | 17.76 | 0.02 | 10.12 | 10.14 | (0.08) | — | — | (0.08) | — | 10.06 | 27.82 | 57.18 | 28,986 | 0.92 | 1.02 | 0.08 | 88 | |
7/1/19 to 6/30/20 | 19.74 | 0.08 | (1.99) | (1.91) | (0.07) | — | — | (0.07) | — | (1.98) | 17.76 (10) | (9.74) (10) | 16,747 | 0.92 | 1.02 | 0.44 | 110 | |
7/1/18 to 6/30/19 | 21.81 | 0.12 | (0.53) | (0.41) | (0.03) | — | (1.63) | (1.66) | — | (2.07) | 19.74 | (0.36) | 9,637 | 0.93 | 1.02 | 0.61 | 78 | |
7/1/17 to 6/30/18 | 20.63 | 0.03 | 3.95 | 3.98 | — | — | (2.80) | (2.80) | — | 1.18 | 21.81 | 20.25 | 6,883 | 1.06 | 1.06 | 0.12 | 126 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 28.07 | 0.15 | (5.13) | (4.98) | (0.10) | — | (3.41) | (3.51) | — | (8.49) | $ 19.58 | (20.14) % | $ 46,605 | 0.82 % | 0.92 % | 0.62 % | 69 % | |
7/1/20 to 6/30/21 | 17.92 | 0.04 | 10.22 | 10.26 | (0.11) | — | — | (0.11) | — | 10.15 | 28.07 | 57.35 | 36,211 | 0.82 | 0.96 | 0.19 | 88 | |
7/1/19 to 6/30/20 | 19.90 | 0.09 | (1.99) | (1.90) | (0.08) | — | — | (0.08) | — | (1.98) | 17.92 (10) | (9.62) (10) | 22,028 | 0.82 | 0.92 | 0.49 | 110 | |
7/1/18 to 6/30/19 | 21.96 | 0.14 | (0.53) | (0.39) | (0.04) | — | (1.63) | (1.67) | — | (2.06) | 19.90 | (0.29) | 9,077 | 0.83 | 0.92 | 0.70 | 78 | |
7/1/17 to 6/30/18 | 20.73 | 0.05 | 3.98 | 4.03 | — | — | (2.80) | (2.80) | — | 1.23 | 21.96 | 20.40 | 8,104 | 0.96 | 0.96 | 0.21 | 126 |
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) | Total from Investment Operations | Dividends from Net Investment Income | Return of Capital | Distributions from Net Realized Gains | Total Distributions | Payment from Affiliate | Change in Net Asset Value | Net Asset Value, End of Period | Total Return(2)(3) | Net Assets, End of Period (in thousands) | Ratio of Net Expenses to Average Net Assets(4)(5) | Ratio of Gross Expenses to Average Net Assets(4)(5) | Ratio of Net Investment Income (Loss) to Average Net Assets(4) | Portfolio Turnover Rate(2) | ||
Small-Cap Fund (Continued) | ||||||||||||||||||
Class R6 | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 28.10 | 0.16 | (5.14) | (4.98) | (0.08) | — | (3.41) | (3.49) | — | (8.47) | $ 19.63 | (20.10) % | $ 7,373 | 0.77 % | 0.84 % | 0.64 % | 69 % | |
7/1/20 to 6/30/21 | 17.93 | 0.06 | 10.21 | 10.27 | (0.10) | — | — | (0.10) | — | 10.17 | 28.10 | 57.37 | 8,614 | 0.77 | 0.87 | 0.24 | 88 | |
7/1/19 to 6/30/20 | 19.90 | 0.14 | (2.03) | (1.89) | (0.08) | — | — | (0.08) | — | (1.97) | 17.93 (10) | (9.55) (10) | 9,114 | 0.77 | 0.87 | 0.71 | 110 | |
8/22/18 (11) to 6/30/19 | 23.16 | 0.13 | (1.71) | (1.58) | (0.05) | — | (1.63) | (1.68) | — | (3.26) | 19.90 | (5.42) | 17,792 | 0.77 | 0.87 | 0.76 | 78 (12) | |
Technology Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 81.59 | (0.68) | (17.72) | (18.40) | — | — | (23.45) | (23.45) | — | (41.85) | $ 39.74 | (32.06) % | $ 475,065 | 1.42 % (8) | 1.42 % | (1.05) % | 126 % | |
7/1/20 to 6/30/21 | 68.06 | (0.88) | 30.38 | 29.50 | — | — | (15.97) | (15.97) | — | 13.53 | 81.59 | 45.06 | 812,373 | 1.49 (8) | 1.50 | (1.12) | 150 | |
7/1/19 to 6/30/20 | 63.92 | (0.68) | 16.01 | 15.33 | — | — | (11.19) | (11.19) | — | 4.14 | 68.06 (10) | 28.34 (10) | 664,833 | 1.57 | 1.57 | (1.12) | 212 | |
7/1/18 to 6/30/19 | 71.60 | (0.68) | 5.90 | 5.22 | — | — | (12.90) | (12.90) | — | (7.68) | 63.92 | 12.40 | 601,112 | 1.51 | 1.56 | (1.05) | 109 | |
7/1/17 to 6/30/18 | 60.82 | (0.64) | 22.58 | 21.94 | — | — | (11.16) | (11.16) | — | 10.78 | 71.60 | 38.89 | 530,127 | 1.42 | 1.57 | (0.95) | 104 | |
Class C | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 45.83 | (0.52) | (6.59) | (7.11) | — | — | (23.45) | (23.45) | — | (30.56) | $ 15.27 | (32.58) % | $ 25,961 | 2.17 % (8) | 2.17 % | (1.80) % | 126 % | |
7/1/20 to 6/30/21 | 43.68 | (0.87) | 18.99 | 18.12 | — | — | (15.97) | (15.97) | — | 2.15 | 45.83 | 44.01 | 53,742 | 2.24 (8) | 2.25 | (1.88) | 150 | |
7/1/19 to 6/30/20 | 45.22 | (0.76) | 10.41 | 9.65 | — | — | (11.19) | (11.19) | — | (1.54) | 43.68 (10) | 27.37 (10) | 50,421 | 2.32 | 2.32 | (1.87) | 212 | |
7/1/18 to 6/30/19 | 55.32 | (0.92) | 3.72 | 2.80 | — | — | (12.90) | (12.90) | — | (10.10) | 45.22 | 11.57 | 48,842 | 2.23 | 2.31 | (1.78) | 109 | |
7/1/17 to 6/30/18 | 49.43 | (0.91) | 17.96 | 17.05 | — | — | (11.16) | (11.16) | — | 5.89 | 55.32 | 37.86 | 138,589 | 2.17 | 2.32 | (1.70) | 104 | |
Class P | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 98.14 | (0.71) | (22.85) | (23.56) | — | — | (23.45) | (23.45) | — | (47.01) | $ 51.13 | (31.89) % | $ 50,775 | 1.17 % (8) | 1.17 % | (0.83) % | 126 % | |
7/1/20 to 6/30/21 | 79.28 | (0.81) | 35.64 | 34.83 | — | — | (15.97) | (15.97) | — | 18.86 | 98.14 | 45.44 | 194,925 | 1.24 (8) | 1.25 | (0.87) | 150 | |
7/1/19 to 6/30/20 | 72.49 | (0.60) | 18.58 | 17.98 | — | — | (11.19) | (11.19) | — | 6.79 | 79.28 (10) | 28.67 (10) | 154,810 | 1.32 | 1.32 | (0.87) | 212 | |
7/1/18 to 6/30/19 | 79.05 | (0.58) | 6.92 | 6.34 | — | — | (12.90) | (12.90) | — | (6.56) | 72.49 | 12.68 | 155,553 | 1.27 | 1.31 | (0.80) | 109 | |
7/1/17 to 6/30/18 | 66.03 | (0.53) | 24.71 | 24.18 | — | — | (11.16) | (11.16) | — | 13.02 | 79.05 | 39.24 | 100,560 | 1.17 | 1.32 | (0.71) | 104 | |
Institutional Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $101.34 | (0.67) | (23.91) | (24.58) | — | — | (23.45) | (23.45) | — | (48.03) | $ 53.31 | (31.89) % | $ 772,161 | 1.16 % (8) | 1.16 % | (0.79) % | 126 % | |
7/1/20 to 6/30/21 | 81.43 | (0.77) | 36.65 | 35.88 | — | — | (15.97) | (15.97) | — | 19.91 | 101.34 | 45.53 | 1,386,911 | 1.17 (8) | 1.18 | (0.80) | 150 | |
7/1/19 to 6/30/20 | 74.10 | (0.55) | 19.07 | 18.52 | — | — | (11.19) | (11.19) | — | 7.33 | 81.43 (10) | 28.78 (10) | 995,709 | 1.22 | 1.22 | (0.78) | 212 | |
7/1/18 to 6/30/19 | 80.40 | (0.52) | 7.12 | 6.60 | — | — | (12.90) | (12.90) | — | (6.30) | 74.10 | 12.81 | 800,061 | 1.16 | 1.21 | (0.69) | 109 | |
7/1/17 to 6/30/18 | 66.94 | (0.45) | 25.07 | 24.62 | — | — | (11.16) | (11.16) | — | 13.46 | 80.40 | 39.37 | 789,922 | 1.07 | 1.22 | (0.59) | 104 | |
Administrative Class | ||||||||||||||||||
7/1/21 to 6/30/22 | $ 90.62 | (0.85) | (20.47) | (21.32) | — | — | (23.45) | (23.45) | — | (44.77) | $ 45.85 | (32.09) % | $ 6,049 | 1.47 % | 1.72 % | (1.10) % | 126 % | |
7/1/20 to 6/30/21 | 74.24 | (0.91) | 33.26 | 32.35 | — | — | (15.97) | (15.97) | — | 16.38 | 90.62 | 45.15 | 86,855 | 1.43 (8) | 1.44 | (1.05) | 150 | |
7/1/19 to 6/30/20 | 68.67 | (0.67) | 17.43 | 16.76 | — | — | (11.19) | (11.19) | — | 5.57 | 74.24 (10) | 28.46 (10) | 11,669 | 1.47 | 1.47 | (1.02) | 212 | |
7/1/18 to 6/30/19 | 75.76 | (0.67) | 6.48 | 5.81 | — | — | (12.90) | (12.90) | — | (7.09) | 68.67 | 12.52 | 11,688 | 1.40 | 1.46 | (0.95) | 109 | |
7/1/17 to 6/30/18 | 63.76 | (0.61) | 23.77 | 23.16 | — | — | (11.16) | (11.16) | — | 12.00 | 75.76 | 39.02 | 23,535 | 1.32 | 1.47 | (0.85) | 104 |
Footnote Legend: | |
(1) | Calculated using average shares outstanding. |
(2) | Not annualized for periods less than one year. |
(3) | Sales charges, where applicable, are not reflected in the total return calculation. |
(4) | Annualized for periods less than one year. |
(5) | The Funds will also indirectly bear their prorated share of expenses of any underlying funds in which they invest. Such expenses are not included in the calculation of this ratio. |
(6) | Due to a change in expense cap, the ratio shown is a blended expense ratio. |
(7) | Amount is less than $0.005 per share. |
(8) | The share class is currently under its expense limitation. |
(9) | See Note 4D in the Notes to Financial Statements for information on recapture of expenses previously reimbursed. |
(10) | Payment from affiliate increased the end of period net asset value and total return by less than $0.01 and 0.01%, respectively. |
(11) | Inception date. |
(12) | Portfolio turnover is representative of the Fund for the entire period. |
(13) | Payment from affiliate had no impact on total return. |
(14) | The character of a portion of the distribution was redesignated from net investment income to net realized capital gain for the year ended June 30, 2019. The per share amount for Class C differs from other classes, as at the time the distribution was made, Class C had minimal distributable net investment income, therefore no redesignation for Class C was made. |
NOTES TO FINANCIAL STATEMENTS
June 30, 2022
NOTES TO FINANCIAL STATEMENTS (Continued)
A. | Security Valuation |
Each Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Funds’ policy is to recognize transfers into or out of Level 3 at the end of the reporting period. | |
• Level 1 – quoted prices in active markets for identical securities (security types generally include listed equities). |
B. | Security Transactions and Investment Income |
Security transactions are recorded on the trade date. Realized gains and losses from the sale of securities are determined on the identified cost basis. Dividend income and capital gain distributions is recognized on the ex-dividend date or, in the case of certain foreign securities, as soon as a Fund is notified. Interest income is recorded on the accrual basis. Each Fund amortizes premiums and accretes discounts using the effective |
NOTES TO FINANCIAL STATEMENTS (Continued)
interest method. Premiums on callable debt securities are amortized to interest income to the earliest call date using the effective interest method. Conversion premium is not amortized. Any distributions from underlying funds are recorded in accordance with the character of the distributions as designated by the underlying funds. | |
Dividend income from REIT and MLP investments is recorded using management’s estimate of the percentage of income included in distributions received from such investments based on historical information and other industry sources. The return of capital portion of the estimate is a reduction to investment income and a reduction in the cost basis of each investment which increases net realized gain (loss) and net change in unrealized appreciation (depreciation). If the return of capital distributions exceed their cost basis, the distributions are treated as realized gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT and MLP after its fiscal year-end, and may differ from the estimated amounts. | |
C. | Income Taxes |
Each Fund is treated as a separate taxable entity. It is the intention of each Fund to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) and to distribute substantially all of its taxable income to its shareholders. Therefore, no provision for federal income taxes or excise taxes has been made. | |
Certain Funds may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Each Fund will accrue such taxes and recoveries as applicable based upon current interpretations of the tax rules and regulations that exist in the markets in which it invests. | |
Management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Each Fund’s U.S. federal income tax return is generally subject to examination by the Internal Revenue Service for a period of three years after it is filed. State, local and/or non-U.S. tax returns and/or other filings may be subject to examination for different periods, depending upon the tax rules of each applicable jurisdiction. | |
D. | Distributions to Shareholders |
Distributions are recorded by each Fund on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations which may differ from U.S. GAAP. | |
E. | Expenses |
Expenses incurred together by a Fund and other affiliated mutual funds are allocated in proportion to the net assets of each such fund, except where allocation of direct expenses to each Fund and other fund, or an alternative allocation method, can be more appropriately used. | |
In addition to the net annual operating expenses that a Fund bears directly, the shareholders of a Fund indirectly bear the pro-rata expenses of any underlying mutual funds in which the Fund invests. | |
F. | Foreign Currency Transactions |
Non-U.S. investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the foreign currency exchange rate effective at the end of the reporting period. Cost of investments is translated at the currency exchange rate effective at the trade date. The gain or loss resulting from a change in currency exchange rates between the trade and settlement date of a portfolio transaction is treated as a gain or loss on foreign currency. Likewise, the gain or loss resulting from a change in currency exchange rates between the date income is accrued and the date it is paid is treated as a gain or loss on foreign currency. For fixed income securities, the Funds bifurcate that portion of the results of operations arising from changes in foreign exchange rates on investments from the fluctuations arising from changes in the market prices of securities held and such fluctuations are included with the net realized and unrealized gain or loss on foreign currency transactions. For equity securities, the Funds do not isolate that portion of the results of operations arising from changes in foreign exchange rates on investments from the fluctuations arising from changes in the market prices of securities held and such fluctuations are included with the net realized and unrealized gain or loss on investments. | |
G. | Convertible Securities |
Certain Funds may invest a portion of their assets in convertible securities. Although convertible securities derive part of their value from that of the securities into which they are convertible, they are not considered derivative financial instruments. However, certain of the Funds’ investments in convertible securities include features which render them sensitive to price changes in their underlying securities. The value of structured/synthetic convertible securities can be affected by interest rate changes and credit risks of the issuer. Such securities may be structured in ways that limit their potential for capital appreciation, and the entire value of the security may be at risk of loss depending on the performance of the underlying equity security. Consequently, the Funds are exposed to greater downside risk than traditional convertible securities, but typically still less than that of the underlying stock. | |
H. | When-issued Purchases and Forward Commitments (Delayed Delivery) |
Certain Funds may engage in when-issued or forward commitment transactions. Securities purchased on a when-issued or forward commitment basis are also known as delayed delivery transactions. Delayed delivery transactions involve a commitment by a Fund to purchase or sell a security at a future date (ordinarily up to 90 days later). When-issued or forward commitments enable the Funds to lock in what is believed to be an attractive price or yield on a particular security for a period of time, regardless of future changes in interest rates. Each Fund records when-issued and forward commitment securities on the trade date. Each Fund maintains collateral for the securities purchased. Securities purchased on a when-issued or forward commitment basis begin earning interest on the settlement date. |
NOTES TO FINANCIAL STATEMENTS (Continued)
I. | Leveraged Loans |
Certain Funds may invest in direct debt instruments which are interests in amounts owed by a corporate, governmental, or other borrower to lenders or lending syndicates. Leveraged loans are generally non-investment grade and often involve borrowers that are highly leveraged. The Funds may invest in obligations of borrowers who are in bankruptcy proceedings. Leveraged loans are typically senior in the corporate capital structure of the borrower. A loan is often administered by a bank or other financial institution (the “lender”) that acts as agent for all holders. The agent administers the terms of the loan, as specified in the leveraged loan. A Fund’s investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When investing in loan participations, a Fund has the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the loan participation and only upon receipt by the lender of payments from the borrower. A Fund generally has no right to enforce compliance with the terms of the leveraged loan with the borrower. As a result, a Fund may be subject to the credit risk of both the borrower and the lender that is selling the leveraged loan. When a Fund purchases assignments from lenders it acquires direct rights against the borrower on the loan. | |
A Fund may invest in multiple series or tranches of a loan, which may have varying terms and carry different associated risks. Leveraged loans may involve foreign borrowers and investments may be denominated in foreign currencies. Direct indebtedness of emerging countries involves a risk that the government entities responsible for the repayment of the debt may be unable, or unwilling, to pay the principal and interest when due. | |
The leveraged loans have floating rate loan interests which generally pay interest at rates that are periodically determined by reference to a base lending rate plus a premium. The base lending rates are generally LIBOR, SOFR, the prime rate offered by one or more U.S. banks or the certificate of deposit rate. When a leveraged loan is purchased a Fund may pay an assignment fee. On an ongoing basis, a Fund may receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a leveraged loan. Prepayment penalty fees are received upon the prepayment of a leveraged loan by a borrower. Prepayment penalty, facility, commitment, consent and amendment fees are recorded to income as earned or paid. | |
J. | Warrants |
The Funds may receive warrants. Warrants are securities that are usually issued together with a debt security or preferred stock and that give the holder the right to buy a proportionate amount of common stock at a specified price. Warrants may be freely transferable and are often traded on major exchanges. Warrants normally have a life that is measured in years and entitle the holder to buy common stock of a company at a price that is usually higher than the market price at the time the warrant is issued. Warrants may entail greater risks than certain other types of investments. Generally, warrants do not carry the right to receive dividends or exercise voting rights with respect to the underlying securities, and they do not represent any rights in the assets of the issuer. In addition, their value does not necessarily change with the value of the underlying securities, and they cease to have value if they are not exercised on or before their expiration date. If the market price of the underlying stock does not exceed the exercise price during the life of the warrant, the warrant will expire worthless. Warrants may increase the potential profit or loss to be realized from the investment as compared with investing the same amount in the underlying securities. Similarly, the percentage increase or decrease in the value of an equity security warrant may be greater than the percentage increase or decrease in the value of the underlying common stock. Warrants may relate to the purchase of equity or debt securities. Debt obligations with warrants attached to purchase equity securities have many characteristics of convertible securities and their prices may, to some degree, reflect the performance of the underlying stock. Debt obligations also may be issued with warrants attached to purchase additional debt securities at the same coupon rate. A decline in interest rates would permit a Fund to sell such warrants at a profit. If interest rates rise, these warrants would generally expire with no value. | |
K. | Securities Lending |
The Funds may loan securities to qualified brokers through a securities lending agency agreement with The Bank of New York Mellon (“BNYM”). Under the securities lending policy, when lending securities a Fund is required to maintain collateral with a market value not less than 100% of the market value of loaned securities. Collateral is adjusted daily in connection with changes in the market value of securities on loan bringing the collateral market value in line with the required percent. Due to timing of collateral adjustments, the market value of collateral held with respect to a loaned security, may be more or less than the value of the security on loan. | |
Collateral may consist of cash and securities issued by the U.S. Government or its agencies. Cash collateral is invested in a short-term money market fund. Dividends earned on the collateral and premiums paid by the broker are recorded as income by the Fund net of fees and rebates charged/paid by BNYM for its services as securities lending agent and in connection with this securities lending program. Lending portfolio securities involves a risk of delay in the recovery of the loaned securities or in the declining value of the collateral. | |
Securities lending transactions are entered into by each Fund under a Master Securities Lending Agreement (“MSLA”) which permits the Fund, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset amounts payable by the Fund to the same counterparty against amounts to be received and create one single net payment due to or from the Fund. | |
As of June 30, 2022, none of the Funds were lending under the agreement with BNYM. |
NOTES TO FINANCIAL STATEMENTS (Continued)
A. | Forward Foreign Currency Exchange Contracts |
A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a future date. Forward foreign currency exchange contracts, when used by a Fund, help to manage the overall exposure to the currencies in which some of the investments held by the Fund are denominated. The contract is marked-to-market daily and the change in market value is recorded by the Fund as an unrealized appreciation or depreciation. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. The use of forward foreign currency exchange contracts involves the risk that the value of the contract changes unfavorably due to movements in the value of the referenced foreign currencies. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. dollars without the delivery of foreign currency. | |
During the fiscal year (“the period”) ended June 30, 2022, none of the Funds entered into forward foreign currency exchange contracts. | |
B. | Options Contracts |
An options contract provides the purchaser with the right, but not the obligation, to buy (call option) or sell (put option) a financial instrument at an agreed upon price. Certain Funds may purchase or write both put and call options on portfolio securities. A Fund doing so is subject to equity price risk and/or foreign currency risk in the normal course of pursuing its investment objectives. | |
When a Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When a Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. Holdings of the Fund designated to cover outstanding written options are noted in the Schedules of Investments. Purchased options are reported as an asset within “Investment in securities at value” in the Statements of Assets and Liabilities. Written options are reported as a liability within “Written options at value.” Changes in value of the purchased option are included in “Net change in unrealized appreciation (depreciation) from investments” in the Statements of Operations. Changes in value of written options are included in “Net change in unrealized appreciation (depreciation) from written options” in the Statements of Operations. | |
If an option expires unexercised, the Fund realizes a gain or loss to the extent of the premium received or paid. If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost basis of the purchase. The difference between the premium and the amount received or paid on effecting a closing purchase or sale transaction is also treated as a realized gain or loss. Gain or loss on purchased options is included in “Net realized gain (loss) on investments” in the Statements of Operations. Gain or loss on written options is presented separately as “Net realized gain (loss) from written options” in the Statements of Operations. | |
The risk in writing call options is that the Fund gives up the opportunity for profit if the market price/foreign currency rate of the referenced security/currency increases and the option is exercised. The risk in writing put options is that the Fund may incur a loss if the market price/foreign currency rate of the referenced security/currency decreases and the option is exercised. The risk in buying options is that the Fund pays a premium whether or not the option is exercised. The use of such instruments may involve certain additional risks as a result of unanticipated movements in the market. Writers (sellers) of options are subject to unlimited risk of loss, as the seller will be obligated to deliver or take delivery of the security at a predetermined price which may, upon exercise of the option, be significantly different from the then-market value. | |
During the period ended June 30, 2022, the Income & Growth Fund and Technology Fund invested in written covered call options contracts in an attempt to manage equity price risk and with the purpose of generating realized gains. | |
The following is a summary of derivative instruments categorized by primary risk exposure, presented in the Statements of Assets and Liabilities at June 30, 2022: |
Statement Line Description | Primary Risk | Income & Growth Fund |
Liability Derivatives | ||
Written options at value | Equity contracts | $(1,198) |
Total | $(1,198) |
NOTES TO FINANCIAL STATEMENTS (Continued)
Statement Line Description | Primary Risk | Income & Growth Fund | Technology Fund |
Net Realized Gain (Loss) From | |||
Purchased options(1) | Equity contracts | $ — | $ 10,102 |
Written options | Equity contracts | 10,104 | 4,321 |
Total | $10,104 | $ 14,423 | |
Net Change in Unrealized Appreciation/Depreciation on | |||
Purchased options(2) | Equity contracts | $ — | $ 1,594 |
Written options | Equity contracts | 3,067 | (5,019) |
Total | $ 3,067 | $ (3,425) |
Income & Growth Fund | |
Written Options(1) | $1,350 |
Technology Fund | |
Purchased Options(1) | $9,241 |
Written Options(1) | 8,450 |
(1) Premium amount. |
C. | Derivative Risks |
A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract. | |
A Fund’s risk of loss from counterparty credit risk on derivatives bought or sold OTC, rather than traded on a securities exchange, is generally limited to the aggregate unrealized gain netted against any collateral held by such Fund. For OTC purchased options, each Fund bears the risk of loss of the amount of the premiums paid plus the positive change in market values net of any collateral held by such Fund should the counterparty fail to perform under the contracts. Options written by a Fund do not typically give rise to counterparty credit risk, as options written generally obligate the Fund, and not the counterparty to perform. | |
With exchange traded purchased options and futures and centrally cleared swaps generally speaking, there is less counterparty credit risk to the Fund since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency) of the clearing broker or clearinghouse. Additionally, credit risk exists in exchange traded futures and centrally cleared swaps with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Fund. | |
In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, each Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs certain OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, |
NOTES TO FINANCIAL STATEMENTS (Continued)
bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. In addition, certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event a Fund’s net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA Master Agreements, which would cause the Fund to accelerate payment of any net liability owed to the counterparty. | |
D. | Collateral Requirements and Master Netting Agreements (“MNA”) |
For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by the Funds and the counterparty. | |
Cash collateral that has been pledged to cover obligations of a Fund and cash collateral received from the counterparty, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments. Typically, the Funds and counterparties are not permitted to sell, re-pledge or use the collateral they receive. To the extent amounts due to a Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty non-performance. The Funds attempt to mitigate counterparty risk by only entering into agreements with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. | |
For financial reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Assets and Liabilities. | |
The following tables present the Funds’ derivative assets and liabilities by counterparty net of amounts available for offset under a MNA and net of the related collateral received/pledged by the Funds as of June 30, 2022. |
At June 30, 2022, the Funds’ derivative assets and liabilities (by type) are as follows: | |||||
Income & Growth Fund | |||||
Assets | Liabilities | ||||
Derivative Financial Instruments: | |||||
Written options | $— | $ 1,198 | |||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | $— | $ 1,198 | |||
Derivatives not subject to a MNA or similar agreement | — | (1,198) | |||
Total assets and liabilities subject to a MNA | $— | $ — |
A. | Investment Adviser |
Virtus Investment Advisers, Inc. (the “Adviser”), an indirect, wholly-owned subsidiary of Virtus Investment Partners, Inc. (“Virtus”), is the investment adviser to the Funds. The Adviser manages the Funds’ investment programs and general operations of the Funds, including oversight of the Funds’ subadvisers. | |
As compensation for its services to the Funds, the Adviser is entitled to a fee, which is calculated daily and paid monthly based upon the following annual rates as a percentage of the average daily net assets of each Fund: |
Fund | Advisory Fee | |
Emerging Markets Opportunities Fund | 0.85% | |
Focused Growth Fund | 0.45 | |
Global Small-Cap Fund | 0.90 | |
Health Sciences Fund | 0.80 | |
Income & Growth Fund | 0.65 | |
Mid-Cap Growth Fund | 0.47 | |
NFJ Dividend Value Fund | 0.45 | |
NFJ International Value Fund | 0.60 | |
NFJ Large-Cap Value Fund | 0.45 | |
NFJ Mid-Cap Value Fund | 0.55 | |
NFJ Small-Cap Value Fund | 0.60 | |
Small-Cap Fund | 0.60 |
NOTES TO FINANCIAL STATEMENTS (Continued)
Fund | Advisory Fee | |
Technology Fund | 0.90 |
B. | Subadvisers |
The subadvisers manage the investments of each Fund for which they are paid a fee by the Adviser. A list of the subadvisers and the Funds they serve as of the end of the period is as follows: |
Fund | Subadviser | |
Emerging Markets Opportunities Fund | AllianzGI U.S.(1) | |
Focused Growth Fund | AllianzGI U.S.(1) | |
Global Small-Cap Fund | AllianzGI U.S.(1) | |
Health Sciences Fund | AllianzGI U.S.(1) | |
Income & Growth Fund | AllianzGI U.S.(1) | |
Mid-Cap Growth Fund | AllianzGI U.S.(1) | |
NFJ Dividend Value Fund | NFJ (2) | |
NFJ International Value Fund | NFJ (2) | |
NFJ Large-Cap Value Fund | NFJ (2) | |
NFJ Mid-Cap Value Fund | NFJ (2) | |
NFJ Small-Cap Value Fund | NFJ (2) | |
Small-Cap Fund | AllianzGI U.S.(1) | |
Technology Fund | AllianzGI U.S.(1) |
(1) | Allianz Global Investors U.S. LLC (“AllianzGI U.S.”). |
(2) | NFJ Investment Group, LLC (“NFJ”), which is an indirect, wholly-owned subsidiary of Virtus. |
C. | Expense Limitations |
The Adviser has contractually agreed to limit each Fund’s annual total operating expenses, subject to the exceptions listed below, so that such expenses do not exceed, on an annualized basis, the following respective percentages of average daily net assets through February 1, 2023. Following the contractual period, the Adviser may discontinue these expense limitation arrangements at any time. The waivers and reimbursements are accrued daily and received monthly. |
Fund | Class A | Class C | Class P | Class I | Class R6 | Administrative Class | ||||||
Emerging Markets Opportunities Fund | 1.29 % | 2.04 % | 1.04 % | 0.94 % | 0.89 % | N/A % | ||||||
Focused Growth Fund | 1.00 (1) | 1.77 (1) | 0.77 (1) | 0.67 | 0.62 | 0.92 | ||||||
Global Small-Cap Fund | 1.63 (1) | 2.38 (1) | 1.38 (1) | 1.28 | N/A | N/A | ||||||
Health Sciences Fund | 1.47 (1) | 2.22 (1) | 1.22 (1) | 1.12 | N/A | N/A | ||||||
Income & Growth Fund | 1.28 (1) | 2.03 (1) | 1.03 (1) | 0.93 (1) | N/A | N/A | ||||||
Mid-Cap Growth Fund | 1.14 (1) | 1.89 (1) | 0.89 (1) | 0.79 (1) | N/A | 1.04 | ||||||
NFJ Dividend Value Fund | 1.05 (1) | 1.80 (1) | 0.80 (1) | 0.70 | 0.65 (1) | 0.95 | ||||||
NFJ International Value Fund | 1.30 | 2.05 (1) | 1.05 (1) | 0.95 | 0.90 | 1.20 | ||||||
NFJ Large-Cap Value Fund | 1.12 (1) | 1.87 (1) | 0.87 (1) | 0.77 (1) | 0.65 (2) | 1.02 (1) | ||||||
NFJ Mid-Cap Value Fund | 1.00 | 1.75 | 0.75 | 0.65 | 0.60 | 0.90 | ||||||
NFJ Small-Cap Value Fund | 1.17 | 1.92 | 0.92 (1) | 0.82 | 0.77 | 1.07 | ||||||
Small-Cap Fund | 1.17 | 1.92 | 0.92 | 0.82 | 0.77 | N/A | ||||||
Technology Fund | 1.57 (1) | 2.32 (1) | 1.32 | 1.22 (1) | N/A | 1.47 |
(1) | Each share class is currently below its expense cap. |
(2) | Class inception date was October 29, 2021. |
NOTES TO FINANCIAL STATEMENTS (Continued)
D. | Expense Recapture |
Under certain conditions, the Adviser may recapture operating expenses reimbursed or fees waived under these arrangements within three years after the date on which such amounts were incurred or waived. A Fund must pay its ordinary operating expenses before the Adviser is entitled to any reimbursement and must remain in compliance with any applicable expense limitations or, if none, the expense limitation in effect at the time of the waiver or reimbursement. All or a portion of the following Adviser reimbursed expenses may be recaptured by the period ending June 30: |
Expiration | ||||||
Fund | 2024 | 2025 | Total | |||
Emerging Markets Opportunities Fund | ||||||
Class A | $ 32 | $ 46 | $ 78 | |||
Class C | 1 | 2 | 3 | |||
Class P | 7 | 11 | 18 | |||
Institutional Class | 235 | 494 | 729 | |||
Class R6 | 31 | 62 | 93 | |||
Focused Growth Fund | ||||||
Institutional Class | 20 | 59 | 79 | |||
Class R6 | — | 10 | 10 | |||
Administrative Class | 1 | 4 | 5 | |||
Global Small-Cap Fund | ||||||
Class C | — | — (1) | — (1) | |||
Institutional Class | 3 | 12 | 15 | |||
Health Sciences Fund | ||||||
Institutional Class | — | 6 | 6 | |||
Income & Growth Fund | ||||||
Institutional Class | — | — (1) | — (1) | |||
Mid-Cap Growth Fund | ||||||
Administrative Class | — | — (1) | — (1) | |||
NFJ Dividend Value Fund | ||||||
Institutional Class | — | 64 | 64 | |||
Administrative Class | — | 12 | 12 | |||
NFJ International Value Fund | ||||||
Class A | — | 14 | 14 | |||
Institutional Class | 3 | 12 | 15 | |||
Class R6 | — (1) | 1 | 1 | |||
Administrative Class | — (1) | 5 | 5 | |||
NFJ Large-Cap Value Fund | ||||||
Class R6 | — | — (1) | — (1) | |||
NFJ Mid-Cap Value Fund | ||||||
Class A | 186 | 539 | 725 | |||
Class C | 10 | 24 | 34 | |||
Class P | 62 | 147 | 209 | |||
Institutional Class | 298 | 681 | 979 | |||
Class R6 | 51 | 102 | 153 | |||
Administrative Class | 26 | 66 | 92 | |||
NFJ Small-Cap Value Fund | ||||||
Class A | — | 98 | 98 | |||
Class C | — | — (1) | — (1) | |||
Institutional Class | 16 | 40 | 56 | |||
Class R6 | 10 | 16 | 26 | |||
Administrative Class | 31 | 48 | 79 | |||
Small-Cap Fund | ||||||
Class A | 2 | 6 | 8 | |||
Class C | 1 | 1 | 2 | |||
Class P | — (1) | 9 | 9 | |||
Institutional Class | 28 | 46 | 74 | |||
Class R6 | 4 | 6 | 10 | |||
Technology Fund | ||||||
Administrative Class | — | 39 | 39 |
(1) | Amount is less than $500. |
NOTES TO FINANCIAL STATEMENTS (Continued)
Fund | Class A | Class C | Class P | Institutional Class | Class R6 | Administrative Class | Total | |||||||
Emerging Markets Opportunities Fund | $ — | $— (1) | $ — | $ — | $— | $ — | $ — (1) | |||||||
Focused Growth Fund | 2 | — (1) | — (1) | — | 6 | 1 | 9 | |||||||
Global Small-Cap Fund | 2 | — (1) | — | 8 | — | — | 10 | |||||||
Health Sciences Fund | 9 | — (1) | — | 6 | — | — | 15 | |||||||
Income & Growth Fund | — | — | — | — (1) | — | — | — (1) | |||||||
Mid-Cap Growth Fund | — | — | — | 3 | — | 1 | 4 | |||||||
NFJ Dividend Value Fund | 2 | — | — | 53 | 2 | — (1) | 57 | |||||||
NFJ International Value Fund | 10 | — (1) | — (1) | 2 | — (1) | — (1) | 12 | |||||||
NFJ Large-Cap Value Fund | — | — | — | 24 | — | — (1) | 24 | |||||||
NFJ Mid-Cap Value Fund | — | — | 6 | — | — | — | 6 | |||||||
NFJ Small-Cap Value Fund | 1 | — (1) | — (1) | — | 3 | 42 | 46 | |||||||
Small-Cap Fund | 5 | — (1) | 10 | — | — | — | 15 | |||||||
Technology Fund | — | — | — | — | — | 50 | 50 |
(1) | Amount is less than $500. |
E. | Distributor |
VP Distributors, LLC (“VP Distributors”), an indirect, wholly-owned subsidiary of Virtus, serves as the distributor of each Fund’s shares. VP Distributors has advised the Funds that for the period ended June 30, 2022, it retained net commissions of $1,152 for Class A shares and CDSC of $60 and $142 for Class A shares and Class C shares, respectively. | |
In addition, each Fund pays VP Distributors 12b-1 fees under a 12b-1 Plan as a percentage of the average daily net assets of each respective class at the annual rates of 0.25% for Class A shares and Administrative Class shares, and 1.00% for Class C shares. Class P shares, Institutional Class shares, and Class R6 shares, are not subject to a 12b-1 Plan. | |
Under certain circumstances, shares of certain Virtus Mutual Funds may be exchanged for shares of the same class of certain other Virtus Mutual Funds on the basis of the relative NAV per share at the time of the exchange. On exchanges with share classes that carry a CDSC, the CDSC schedule of the original shares purchased continues to apply. | |
F. | Administrator and Transfer Agent |
Virtus Fund Services, LLC, an indirect, wholly-owned subsidiary of Virtus, serves as the administrator and transfer agent to the Funds. | |
For the period ended June 30, 2022, the Funds incurred administration fees totaling $13,461 which are included in the Statements of Operations within the line item “Administration and accounting fees.” The fees are calculated daily and paid monthly. | |
For the period ended June 30, 2022, the Funds incurred transfer agent fees totaling $6,002 which are included in the Statements of Operations within the line item “Transfer agent fees and expenses.” The fees are calculated daily and paid monthly. | |
G. | Investments with Affiliates |
The Funds are permitted to purchase assets from or sell assets to certain affiliates under specified conditions outlined in procedures adopted by the Board. The procedures have been designed to ensure that any purchase or sale of assets by the Funds from or to another fund or portfolio that are, or could be, considered an affiliate by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers comply with Rule 17a-7 under the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. | |
During the period ended June 30, 2022, the Funds did not engage in any transactions pursuant to Rule 17a-7 under the 1940 Act. | |
Outside of Rule 17a-7 transactions, other investments with affiliated issuers are separately reported in this footnote. An affiliated issuer includes any company in which the Fund held 5% or more of a company’s outstanding voting shares at any point during the period, as well as other circumstances where an investment adviser or subadviser to the Fund is deemed to exercise, directly or indirectly, a certain level of control over the company. | |
A summary of the Funds’ total long-term and short-term purchases and sales of the respective shares of the affiliated investments during the period ended June 30, 2022, is as follows: |
NOTES TO FINANCIAL STATEMENTS (Continued)
Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) on affiliated securities | Net change in unrealized appreciation (depreciation) on affiliated securities(1) | Value, end of period | Shares | Dividend income | Distributions of realized gains | |||||||||
Income & Growth Fund | |||||||||||||||||
Common Stocks—0.0% | |||||||||||||||||
CCF Holdings LLC, Class M(2) | $ 1,285 | $ — | $ — | $ — | $ — | $ — | — | $ — | $— | ||||||||
CENVEO Corp.(2) | 109 | — | — | — | — | — | — | — | — | ||||||||
LiveStyle, Inc., (3),(4),(5) | — | — | — | — | — | — (6) | 202,319 | — | — | ||||||||
$ 1,394 | $ — | $ — | $ — | $ — | $ — | $ — | $— | ||||||||||
Preferred Stocks—0.1% | |||||||||||||||||
LiveStyle, Inc. Series B , (3),(4),(5) | 17,135 | — | (11,498) | 225 | (244) | 5,618 | 56,362 | — | — | ||||||||
LiveStyle, Inc. Series B (3),(4) | — | — | — | — | — | — | 8,000 | — | — | ||||||||
$17,135 | $ — | $(11,498) | $ 225 | $(244) | $5,618 | $ — | $— | ||||||||||
Leveraged Loans—0.0% | |||||||||||||||||
Music Technology Holdings LLC(7) | 11,673 | — | (11,673) | — | — | — | — | — | — | ||||||||
Affiliated Mutual Fund—0.0% | |||||||||||||||||
Virtus AllianzGI High Yield Bond Fund(7) | 10,914 | 373 | (10,617) | (510) | (160) | — | — | 373 | — | ||||||||
Total | $41,116 | $373 | $(33,788) | $(285) | $(404) | $5,618 | $373 | $— |
(1) | Does not tie to Net change in unrealized appreciation (depreciation) on Investment in affiliates on the Statements of Operations as a result of previously affiliated securities moving to unaffiliated. |
(2) | Issuer is not an affiliated investment of the Fund at June 30, 2022. |
(3) | During the reporting period, a member of the Fund’s portfolio management team was a member of the board of directors of LiveStyle, Inc. As of the reporting period end, this is no longer the case. |
(4) | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
(5) | All or a portion of the security is restricted. |
(6) | Amount is less than $500. |
(7) | Security was not an investment of the Fund at June 30, 2022. |
H. | Trustee Compensation |
The Trust provides a deferred compensation plan for its Trustees who receive compensation from the Trust. Under the deferred compensation plan, Trustees may elect to defer all or a portion of their compensation. Amounts deferred are retained by the Trust, and then, to the extent permitted by the 1940 Act, in turn, may be invested in the shares of affiliated or unaffiliated mutual funds selected by the participating Trustees. Investments in such instruments are included in “Other assets” in the Statements of Assets and Liabilities at June 30, 2022. | |
In calendar year 2018 and certain other periods prior to January 1, 2020, the Funds maintained a different deferred compensation plan pursuant to which each Trustee who was not affiliated with AllianzGI U.S. had the opportunity to elect not to receive all or a portion of his or her fees from the respective Fund on a current basis, but instead to receive in a subsequent period chosen by the Trustee an amount equal to the value of such compensation if such compensation had been invested in one or more series of Virtus Investment Trust (then known as Allianz Funds) and Virtus Strategy Trust (then known as Allianz Funds Multi-Strategy Trust) selected by the such Trustee from and after the normal payment dates for such compensation. The deferred compensation program was closed to new deferrals effective January 1, 2020, and all Trustee fees earned with respect to service in calendar year 2020 were paid in cash, on a current basis. The Trustees do not currently receive any pension or retirement benefits from the Funds. | |
In addition to the Trustee fees deferred in the current period, the Funds still have obligations with respect to Trustee fees deferred in 2018 and in other periods prior to January 1, 2020, and will continue to have such obligations until all deferred Trustee fees are paid out pursuant to the terms of the applicable deferred compensation plan. |
NOTES TO FINANCIAL STATEMENTS (Continued)
Purchases | Sales | ||
Emerging Markets Opportunities Fund | $ 287,192 | $ 351,443 | |
Focused Growth Fund | 288,139 | 494,300 | |
Global Small-Cap Fund | 74,196 | 89,385 | |
Health Sciences Fund | 214,163 | 221,140 | |
Income & Growth Fund | 4,569,393 | 4,670,961 | |
Mid-Cap Growth Fund | 278,839 | 335,001 | |
NFJ Dividend Value Fund | 546,602 | 671,135 | |
NFJ International Value Fund | 88,843 | 97,842 | |
NFJ Large-Cap Value Fund | 146,257 | 174,522 | |
NFJ Mid-Cap Value Fund | 1,024,469 | 1,281,934 | |
NFJ Small-Cap Value Fund | 258,356 | 364,991 | |
Small-Cap Fund | 120,689 | 112,572 | |
Technology Fund | 2,472,560 | 3,046,691 |
Emerging Markets Opportunities Fund | Focused Growth Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 80 | $ 2,711 | 141 | $ 4,828 | 550 | $ 38,758 | 992 | $ 70,415 | |||||||
Reinvestment of distributions | 12 | 373 | 9 | 312 | 1,892 | 131,234 | 821 | 56,994 | |||||||
Shares repurchased | (246) | (7,852) | (510) | (16,950) | (2,360) | (163,414) | (1,532) | (107,824) | |||||||
Net Increase / (Decrease) | (154) | $ (4,768) | (360) | $ (11,810) | 82 | $ 6,578 | 281 | $ 19,585 | |||||||
Class C | |||||||||||||||
Shares sold | 1 | $ 47 | 5 | $ 188 | 108 | $ 3,603 | 131 | $ 5,206 | |||||||
Reinvestment of distributions | — | — | — (1) | 1 | 393 | 12,557 | 185 | 7,088 | |||||||
Shares repurchased | (19) | (669) | (38) | (1,295) | (533) | (18,692) | (528) | (20,941) | |||||||
Net Increase / (Decrease) | (18) | $ (622) | (33) | $ (1,106) | (32) | $ (2,532) | (212) | $ (8,647) | |||||||
Class R* | |||||||||||||||
Shares sold | — | $ — | — | $ — | — | $ — | 92 | $ 4,398 | |||||||
Reinvestment of distributions | — | — | — | — | — | — | 56 | 2,575 | |||||||
Shares repurchased | — | — | — | — | — | — | (654) | (31,739) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | — | $ — | (506) | $ (24,766) | |||||||
Class P | |||||||||||||||
Shares sold | 133 | $ 4,377 | 84 | $ 2,891 | 476 | $ 23,193 | 302 | $ 14,932 | |||||||
Reinvestment of distributions | 5 | 161 | 7 | 213 | 430 | 18,881 | 199 | 9,540 | |||||||
Shares repurchased | (108) | (3,250) | (381) | (13,423) | (1,357) | (60,240) | (604) | (29,940) | |||||||
Net Increase / (Decrease) | 30 | $ 1,288 | (290) | $ (10,319) | (451) | $ (18,166) | (103) | $ (5,468) |
NOTES TO FINANCIAL STATEMENTS (Continued)
Emerging Markets Opportunities Fund | Focused Growth Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Institutional Class | |||||||||||||||
Shares sold | 2,120 | $ 71,408 | 1,662 | $ 58,167 | 824 | $ 54,682 | 580 | $ 37,222 | |||||||
Reinvestment of distributions | 102 | 3,324 | 73 | 2,426 | 585 | 35,936 | 225 | 14,072 | |||||||
Shares repurchased | (5,063) | (145,870) | (3,449) | (113,484) | (1,407) | (85,990) | (1,005) | (63,534) | |||||||
Net Increase / (Decrease) | (2,841) | $ (71,138) | (1,714) | $ (52,891) | 2 | $ 4,628 | (200) | $ (12,240) | |||||||
Class R6 | |||||||||||||||
Shares sold | 595 | $ 20,278 | 290 | $ 10,104 | 1,240 | $ 74,596 | 590 | $ 38,207 | |||||||
Reinvestment of distributions | 22 | 727 | 11 | 371 | 593 | 36,560 | 250 | 15,711 | |||||||
Shares repurchased | (345) | (11,192) | (239) | (7,844) | (701) | (43,874) | (647) | (40,929) | |||||||
Net Increase / (Decrease) | 272 | $ 9,813 | 62 | $ 2,631 | 1,132 | $ 67,282 | 193 | $ 12,989 | |||||||
Administrative Class | |||||||||||||||
Shares sold | — | $ — | — | $ — | 32 | $ 2,060 | 12 | $ 728 | |||||||
Reinvestment of distributions | — | — | — | — | 30 | 1,642 | 10 | 563 | |||||||
Shares repurchased | — | — | — | — | (16) | (922) | (13) | (738) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | 46 | $ 2,780 | 9 | $ 553 |
Global Small-Cap Fund | Health Sciences Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 46 | $ 1,877 | 70 | $ 3,342 | 144 | $ 4,971 | 125 | $ 4,406 | |||||||
Reinvestment of distributions | 315 | 11,665 | 41 | 1,912 | 935 | 31,093 | 588 | 19,561 | |||||||
Shares repurchased | (201) | (8,411) | (145) | (6,464) | (544) | (18,861) | (597) | (21,195) | |||||||
Net Increase / (Decrease) | 160 | $ 5,131 | (34) | $ (1,210) | 535 | $ 17,203 | 116 | $ 2,772 | |||||||
Class C | |||||||||||||||
Shares sold | 3 | $ 103 | 5 | $ 181 | 43 | $ 938 | 12 | $ 318 | |||||||
Reinvestment of distributions | 31 | 847 | 5 | 206 | 47 | 981 | 29 | 673 | |||||||
Shares repurchased | (45) | (1,428) | (70) | (2,511) | (46) | (1,053) | (66) | (1,688) | |||||||
Net Increase / (Decrease) | (11) | $ (478) | (60) | $ (2,124) | 44 | $ 866 | (25) | $ (697) | |||||||
Class P | |||||||||||||||
Shares sold | 2 | $ 98 | 7 | $ 346 | 99 | $ 3,343 | 23 | $ 843 | |||||||
Reinvestment of distributions | 16 | 682 | 3 | 158 | 5 | 179 | 1 | 18 | |||||||
Shares repurchased | (17) | (864) | (62) | (3,246) | (58) | (1,856) | (1) | (24) | |||||||
Net Increase / (Decrease) | 1 | $ (84) | (52) | $ (2,742) | 46 | $ 1,666 | 23 | $ 837 | |||||||
Institutional Class | |||||||||||||||
Shares sold | 75 | $ 3,439 | 146 | $ 8,093 | 571 | $ 19,966 | 275 | $ 9,933 | |||||||
Reinvestment of distributions | 206 | 8,802 | 26 | 1,361 | 124 | 4,230 | 54 | 1,822 | |||||||
Shares repurchased | (200) | (9,269) | (234) | (11,605) | (476) | (16,735) | (107) | (3,754) | |||||||
Net Increase / (Decrease) | 81 | $ 2,972 | (62) | $ (2,151) | 219 | $ 7,461 | 222 | $ 8,001 |
NOTES TO FINANCIAL STATEMENTS (Continued)
Income & Growth Fund | Mid-Cap Growth Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 34,842 | $ 440,020 | 52,581 | $ 651,658 | 6,034 | $ 28,674 | 3,609 | $ 19,402 | |||||||
Reinvestment of distributions | 12,258 | 150,344 | 10,600 | 131,473 | 20,186 | 87,202 | 5,664 | 30,077 | |||||||
Shares repurchased | (35,815) | (436,840) | (31,720) | (394,769) | (12,167) | (54,324) | (7,121) | (37,859) | |||||||
Net Increase / (Decrease) | 11,285 | $ 153,524 | 31,461 | $ 388,362 | 14,053 | $ 61,552 | 2,152 | $ 11,620 | |||||||
Class C | |||||||||||||||
Shares sold | 18,782 | $ 216,138 | 29,084 | $ 327,256 | 312 | $ 913 | 313 | $ 1,269 | |||||||
Reinvestment of distributions | 8,276 | 91,065 | 7,898 | 88,409 | 1,506 | 4,248 | 537 | 2,144 | |||||||
Shares repurchased | (29,502) | (324,398) | (36,973) | (411,193) | (1,869) | (6,109) | (2,037) | (8,087) | |||||||
Net Increase / (Decrease) | (2,444) | $ (17,195) | 9 | $ 4,472 | (51) | $ (948) | (1,187) | $ (4,674) | |||||||
Class R* | |||||||||||||||
Shares sold | — | $ — | 78 | $ 981 | — | $ — | 208 | $ 1,084 | |||||||
Reinvestment of distributions | — | — | 26 | 323 | — | — | 48 | 248 | |||||||
Shares repurchased | — | — | (658) | (8,159) | — | — | (662) | (3,496) | |||||||
Net Increase / (Decrease) | — | $ — | (554) | $ (6,855) | — | $ — | (406) | $ (2,164) | |||||||
Class P | |||||||||||||||
Shares sold | 30,102 | $ 395,436 | 44,220 | $ 565,375 | 589 | $ 3,464 | 2,026 | $ 12,909 | |||||||
Reinvestment of distributions | 6,599 | 84,089 | 6,493 | 82,954 | 706 | 3,866 | 270 | 1,708 | |||||||
Shares repurchased | (58,458) | (752,315) | (29,265) | (375,726) | (3,904) | (23,698) | (706) | (4,569) | |||||||
Net Increase / (Decrease) | (21,757) | $ (272,790) | 21,448 | $ 272,603 | (2,609) | $ (16,368) | 1,590 | $ 10,048 | |||||||
Institutional Class | |||||||||||||||
Shares sold | 48,591 | $ 653,466 | 39,501 | $ 514,900 | 3,694 | $ 24,641 | 2,373 | $ 15,261 | |||||||
Reinvestment of distributions | 7,616 | 97,397 | 5,516 | 71,390 | 3,075 | 17,065 | 735 | 4,701 | |||||||
Shares repurchased | (35,413) | (443,799) | (20,425) | (262,878) | (2,734) | (14,098) | (4,992) | (29,938) | |||||||
Net Increase / (Decrease) | 20,794 | $ 307,064 | 24,592 | $ 323,412 | 4,035 | $ 27,608 | (1,884) | $ (9,976) | |||||||
Administrative Class | |||||||||||||||
Shares sold | — | $ — | — | $ — | 27 | $ 126 | 78 | $ 449 | |||||||
Reinvestment of distributions | — | — | — | — | 138 | 664 | 39 | 218 | |||||||
Shares repurchased | — | — | — | — | (74) | (403) | (47) | (263) | |||||||
Net Increase / (Decrease) | — | $ — | — | $ — | 91 | $ 387 | 70 | $ 404 |
NFJ Dividend Value Fund | NFJ International Value Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 3,288 | $ 42,101 | 7,711 | $ 92,329 | 277 | $ 5,858 | 719 | $ 15,274 | |||||||
Reinvestment of distributions | 1,902 | 24,662 | 389 | 4,454 | 54 | 1,168 | 54 | 1,064 | |||||||
Shares repurchased | (6,414) | (82,282) | (9,011) | (100,397) | (707) | (14,977) | (855) | (17,467) | |||||||
Net Increase / (Decrease) | (1,224) | $ (15,519) | (911) | $ (3,614) | (376) | $ (7,951) | (82) | $ (1,129) | |||||||
Class C | |||||||||||||||
Shares sold | 99 | $ 1,276 | 68 | $ 772 | 9 | $ 200 | 16 | $ 339 | |||||||
Reinvestment of distributions | 67 | 902 | 9 | 104 | 2 | 39 | 4 | 70 | |||||||
Shares repurchased | (556) | (7,281) | (2,560) | (28,654) | (71) | (1,483) | (313) | (6,237) | |||||||
Net Increase / (Decrease) | (390) | $ (5,103) | (2,483) | $ (27,778) | (60) | $ (1,244) | (293) | $ (5,828) |
NOTES TO FINANCIAL STATEMENTS (Continued)
NFJ Dividend Value Fund | NFJ International Value Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class R* | |||||||||||||||
Shares sold | — | $ — | 398 | $ 4,469 | — | $ — | 38 | $ 782 | |||||||
Reinvestment of distributions | — | — | 41 | 456 | — | — | 3 | 62 | |||||||
Shares repurchased | — | — | (5,836) | (71,103) | — | — | (301) | (6,574) | |||||||
Net Increase / (Decrease) | — | $ — | (5,397) | $ (66,178) | — | $ — | (260) | $ (5,730) | |||||||
Class P | |||||||||||||||
Shares sold | 1,060 | $ 13,724 | 1,477 | $ 16,700 | 44 | $ 982 | 84 | $ 1,742 | |||||||
Reinvestment of distributions | 737 | 9,666 | 228 | 2,613 | 16 | 347 | 17 | 343 | |||||||
Shares repurchased | (4,906) | (63,963) | (7,972) | (88,545) | (259) | (5,474) | (295) | (6,003) | |||||||
Net Increase / (Decrease) | (3,109) | $ (40,573) | (6,267) | $ (69,232) | (199) | $ (4,145) | (194) | $ (3,918) | |||||||
Institutional Class | |||||||||||||||
Shares sold | 1,333 | $ 17,543 | 1,227 | $ 14,268 | 363 | $ 7,453 | 622 | $ 13,323 | |||||||
Reinvestment of distributions | 520 | 6,799 | 162 | 1,856 | 47 | 1,011 | 43 | 867 | |||||||
Shares repurchased | (3,460) | (45,386) | (3,892) | (43,637) | (363) | (7,585) | (764) | (15,604) | |||||||
Net Increase / (Decrease) | (1,607) | $ (21,044) | (2,503) | $ (27,513) | 47 | $ 879 | (99) | $ (1,414) | |||||||
Class R6 | |||||||||||||||
Shares sold | 916 | $ 11,974 | 1,692 | $ 18,962 | 108 | $ 2,266 | 79 | $ 1,747 | |||||||
Reinvestment of distributions | 445 | 5,785 | 111 | 1,275 | 3 | 61 | 2 | 34 | |||||||
Shares repurchased | (1,516) | (19,596) | (1,577) | (17,917) | (36) | (757) | (34) | (708) | |||||||
Net Increase / (Decrease) | (155) | $ (1,837) | 226 | $ 2,320 | 75 | $ 1,570 | 47 | $ 1,073 | |||||||
Administrative Class | |||||||||||||||
Shares sold | 605 | $ 7,964 | 898 | $ 10,884 | 77 | $ 1,576 | 525 | $ 9,870 | |||||||
Reinvestment of distributions | 167 | 2,231 | 33 | 386 | 1 | 30 | 5 | 92 | |||||||
Shares repurchased | (509) | (6,735) | (984) | (11,241) | (47) | (950) | (545) | (11,653) | |||||||
Net Increase / (Decrease) | 263 | $ 3,460 | (53) | $ 29 | 31 | $ 656 | (15) | $ (1,691) |
NFJ Large-Cap Value Fund | NFJ Mid-Cap Value Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 243 | $ 8,002 | 290 | $ 8,262 | 844 | $ 28,415 | 1,296 | $ 41,290 | |||||||
Reinvestment of distributions | 308 | 10,293 | 39 | 1,133 | 1,757 | 58,654 | 157 | 4,787 | |||||||
Shares repurchased | (675) | (22,437) | (893) | (25,272) | (2,537) | (85,945) | (3,144) | (95,718) | |||||||
Net Increase / (Decrease) | (124) | $ (4,142) | (564) | $ (15,877) | 64 | $ 1,124 | (1,691) | $ (49,641) | |||||||
Class C | |||||||||||||||
Shares sold | 18 | $ 591 | 7 | $ 207 | 96 | $ 2,577 | 116 | $ 2,795 | |||||||
Reinvestment of distributions | 6 | 190 | — | 4 | 188 | 4,923 | 5 | 131 | |||||||
Shares repurchased | (51) | (1,686) | (203) | (5,742) | (421) | (11,166) | (545) | (13,448) | |||||||
Net Increase / (Decrease) | (27) | $ (905) | (196) | $ (5,531) | (137) | $ (3,666) | (424) | $ (10,522) | |||||||
Class R* | |||||||||||||||
Shares sold | — | $ — | 6 | $ 154 | — | $ — | 139 | $ 3,561 | |||||||
Reinvestment of distributions | — | — | — (1) | 5 | — | — | 7 | 187 | |||||||
Shares repurchased | — | — | (54) | (1,726) | — | — | (897) | (25,656) | |||||||
Net Increase / (Decrease) | — | $ — | (48) | $ (1,567) | — | $ — | (751) | $ (21,908) |
NOTES TO FINANCIAL STATEMENTS (Continued)
NFJ Large-Cap Value Fund | NFJ Mid-Cap Value Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class P | |||||||||||||||
Shares sold | 163 | $ 5,404 | 118 | $ 3,342 | 1,203 | $ 31,462 | 3,132 | $ 74,161 | |||||||
Reinvestment of distributions | 32 | 1,094 | 6 | 165 | 995 | 25,098 | 156 | 3,735 | |||||||
Shares repurchased | (290) | (9,713) | (136) | (3,898) | (6,282) | (161,018) | (5,143) | (124,407) | |||||||
Net Increase / (Decrease) | (95) | $ (3,215) | (12) | $ (391) | (4,084) | $ (104,458) | (1,855) | $ (46,511) | |||||||
Institutional Class | |||||||||||||||
Shares sold | 775 | $ 25,434 | 1,936 | $ 53,277 | 3,656 | $ 132,433 | 3,867 | $ 124,780 | |||||||
Reinvestment of distributions | 236 | 7,824 | 48 | 1,395 | 1,315 | 47,629 | 166 | 5,470 | |||||||
Shares repurchased | (1,019) | (34,203) | (1,843) | (57,032) | (5,083) | (184,720) | (5,912) | (193,698) | |||||||
Net Increase / (Decrease) | (8) | $ (945) | 141 | $ (2,360) | (112) | $ (4,658) | (1,879) | $ (63,448) | |||||||
Class R6 | |||||||||||||||
Shares sold | 3 | $ 100 | — | $ — | 820 | $ 29,076 | 1,535 | $ 50,969 | |||||||
Reinvestment of distributions | — | — | — | — | 247 | 8,923 | 38 | 1,245 | |||||||
Shares repurchased | — | — | — | — | (573) | (21,374) | (1,718) | (58,443) | |||||||
Net Increase / (Decrease) | 3 | $ 100 | — | $ — | 494 | $ 16,625 | (145) | $ (6,229) | |||||||
Administrative Class | |||||||||||||||
Shares sold | — (1) | $ 19 | 8 | $ 211 | 144 | $ 5,141 | 811 | $ 25,174 | |||||||
Reinvestment of distributions | 1 | 32 | — (1) | 5 | 138 | 4,770 | 13 | 402 | |||||||
Shares repurchased | (1) | (50) | (40) | (1,043) | (504) | (17,898) | (744) | (23,198) | |||||||
Net Increase / (Decrease) | — (1) | $ 1 | (32) | $ (827) | (222) | $ (7,987) | 80 | $ 2,378 |
NFJ Small-Cap Value Fund | Small-Cap Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Class A | |||||||||||||||
Shares sold | 885 | $ 13,314 | 2,240 | $ 32,510 | 203 | $ 5,057 | 317 | $ 7,125 | |||||||
Reinvestment of distributions | 1,563 | 23,166 | 428 | 5,780 | 420 | 9,935 | 3 | 72 | |||||||
Shares repurchased | (4,689) | (70,476) | (6,123) | (82,428) | (430) | (10,519) | (441) | (9,853) | |||||||
Net Increase / (Decrease) | (2,241) | $ (33,996) | (3,455) | $ (44,138) | 193 | $ 4,473 | (121) | $ (2,656) | |||||||
Class C | |||||||||||||||
Shares sold | 18 | $ 228 | 10 | $ 118 | 20 | $ 482 | 14 | $ 319 | |||||||
Reinvestment of distributions | 11 | 139 | 2 | 25 | 29 | 633 | — | — | |||||||
Shares repurchased | (24) | (314) | (62) | (757) | (48) | (1,071) | (79) | (1,868) | |||||||
Net Increase / (Decrease) | 5 | $ 53 | (50) | $ (614) | 1 | $ 44 | (65) | $ (1,549) | |||||||
Class R* | |||||||||||||||
Shares sold | — | $ — | 121 | $ 1,802 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | — | — | 14 | 212 | — | — | — | — | |||||||
Shares repurchased | — | — | (1,305) | (21,779) | — | — | — | — | |||||||
Net Increase / (Decrease) | — | $ — | (1,170) | $ (19,765) | — | $ — | — | $ — | |||||||
Class P | |||||||||||||||
Shares sold | 118 | $ 2,106 | 243 | $ 3,683 | 994 | $ 26,315 | 612 | $ 14,632 | |||||||
Reinvestment of distributions | 62 | 1,102 | 25 | 389 | 129 | 3,094 | 3 | 71 | |||||||
Shares repurchased | (553) | (9,818) | (604) | (9,700) | (1,481) | (37,879) | (516) | (11,756) | |||||||
Net Increase / (Decrease) | (373) | $ (6,610) | (336) | $ (5,628) | (358) | $ (8,470) | 99 | $ 2,947 |
NOTES TO FINANCIAL STATEMENTS (Continued)
NFJ Small-Cap Value Fund | Small-Cap Fund | ||||||||||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||||||||
SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | SHARES | AMOUNT | ||||||||
Institutional Class | |||||||||||||||
Shares sold | 500 | $ 8,993 | 710 | $ 11,615 | 1,691 | $ 42,970 | 560 | $ 13,851 | |||||||
Reinvestment of distributions | 289 | 5,167 | 113 | 1,805 | 285 | 6,896 | 5 | 131 | |||||||
Shares repurchased | (2,087) | (37,826) | (3,349) | (53,593) | (885) | (19,994) | (504) | (12,277) | |||||||
Net Increase / (Decrease) | (1,298) | $ (23,666) | (2,526) | $ (40,173) | 1,091 | $ 29,872 | 61 | $ 1,705 | |||||||
Class R6 | |||||||||||||||
Shares sold | 447 | $ 8,054 | 1,159 | $ 18,776 | 95 | $ 2,395 | 149 | $ 3,489 | |||||||
Reinvestment of distributions | 303 | 5,378 | 99 | 1,576 | 46 | 1,124 | 1 | 29 | |||||||
Shares repurchased | (1,486) | (26,970) | (3,275) | (48,225) | (72) | (1,780) | (352) | (7,439) | |||||||
Net Increase / (Decrease) | (736) | $ (13,538) | (2,017) | $ (27,873) | 69 | $ 1,739 | (202) | $ (3,921) | |||||||
Administrative Class | |||||||||||||||
Shares sold | 186 | $ 2,778 | 376 | $ 5,178 | — | $ — | — | $ — | |||||||
Reinvestment of distributions | 203 | 3,012 | 55 | 739 | — | — | — | — | |||||||
Shares repurchased | (492) | (7,303) | (1,133) | (15,592) | — | — | — | — | |||||||
Net Increase / (Decrease) | (103) | $ (1,513) | (702) | $ (9,675) | — | $ — | — | $ — |
Technology Fund | |||||||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | ||||||
SHARES | AMOUNT | SHARES | AMOUNT | ||||
Class A | |||||||
Shares sold | 812 | $ 49,880 | 980 | $ 76,399 | |||
Reinvestment of distributions | 3,585 | 212,887 | 1,729 | 131,427 | |||
Shares repurchased | (2,398) | (141,886) | (2,521) | (201,536) | |||
Net Increase / (Decrease) | 1,999 | $ 120,881 | 188 | $ 6,290 | |||
Class C | |||||||
Shares sold | 99 | $ 2,609 | 154 | $ 7,156 | |||
Reinvestment of distributions | 1,073 | 24,592 | 385 | 16,516 | |||
Shares repurchased | (645) | (16,116) | (521) | (23,576) | |||
Net Increase / (Decrease) | 527 | $ 11,085 | 18 | $ 96 | |||
Class P | |||||||
Shares sold | 155 | $ 12,532 | 431 | $ 40,162 | |||
Reinvestment of distributions | 339 | 25,889 | 291 | 26,567 | |||
Shares repurchased | (1,487) | (128,997) | (688) | (63,835) | |||
Net Increase / (Decrease) | (993) | $ (90,576) | 34 | $ 2,894 | |||
Institutional Class | |||||||
Shares sold | 2,725 | $ 235,136 | 3,356 | $ 319,101 | |||
Reinvestment of distributions | 3,770 | 299,998 | 2,055 | 193,751 | |||
Shares repurchased | (5,696) | (461,959) | (3,953) | (376,900) | |||
Net Increase / (Decrease) | 799 | $ 73,175 | 1,458 | $ 135,952 | |||
Administrative Class | |||||||
Shares sold | 14 | $ 1,035 | 882 | $ 80,084 | |||
Reinvestment of distributions | 60 | 4,114 | 157 | 13,247 | |||
Shares repurchased | (900) | (78,966) | (237) | (20,498) | |||
Net Increase / (Decrease) | (826) | $ (73,817) | 802 | $ 72,833 |
NOTES TO FINANCIAL STATEMENTS (Continued)
* | On May 21, 2021, all Class R shares were converted into Class A shares. These transactions are included as subscriptions of Class A shares and redemptions of Class R shares in the tables above. |
(1) | Amount is less than 500 shares. |
% of Shares Outstanding | Number of Accounts* | ||
Emerging Markets Opportunities Fund | 58 % | 2 | |
Focused Growth Fund | 11 | 1 | |
Global Small-Cap Fund | 43 | 3 | |
Health Sciences Fund | 40 | 2 | |
Mid-Cap Growth Fund | 12 | 1 | |
NFJ International Value Fund | 12 | 1 | |
NFJ Large-Cap Value Fund | 21 | 1 | |
NFJ Small-Cap Value Fund | 18 | 1 | |
Small-Cap Fund | 11 | 1 | |
Technology Fund | 28 | 2 |
* | None of the accounts are affiliated. |
Fund | Sector | Percentage of Total Investments | ||
Emerging Markets Opportunities Fund | Banks | 27% | ||
Health Sciences Fund | Pharmaceuticals | 45 | ||
NFJ Small-Cap Value Fund | Financials | 31 | ||
Technology Fund | Software | 29 |
NOTES TO FINANCIAL STATEMENTS (Continued)
Fund | Investment | Date of Acquisition | Cost | Value | Percentage of Net Assets | |||||
Income & Growth Fund | CENVEO Corp. | 6/19/2014 | $1,960 | $ 273 | 0.0% | |||||
LiveStyle, Inc. | 12/1/2016 | — | — (a) | 0.0 | ||||||
LiveStyle, Inc. Series B | 3/1/2016 | 5,526 | 5,618 | 0.1 | ||||||
Affinion Group Holdings | 11/4/2015 | 1,422 | — | 0.0 |
(a) | Amount is less than $500. |
Fund | Interest Incurred on Borrowing | Average Dollar Amount of Borrowing | Weighted Average Interest Rate on Borrowing | Days Loan was Open | ||||
Emerging Markets Opportunities Fund | $15 | $ 8,624 | 2.09% | 29 | ||||
Focused Growth Fund | 5 | 6,544 | 1.38 | 18 | ||||
Health Sciences Fund | — (1) | 1,475 | 1.35 | 4 | ||||
Mid-Cap Growth Fund | 3 | 7,544 | 1.35 | 9 | ||||
NFJ Dividend Value Fund | 1 | 3,214 | 1.35 | 7 | ||||
NFJ Mid-Cap Value Fund | 2 | 8,786 | 1.34 | 7 | ||||
Small-Cap Fund | 2 | 13,600 | 1.34 | 4 |
(1) | Amount is less than $500. |
Fund | Federal Tax Cost | Unrealized Appreciation | Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | ||||
Emerging Markets Opportunities Fund | $ 127,120 | $ 15,257 | $ (18,080) | $ (2,823) | ||||
Focused Growth Fund | 576,643 | 396,027 | (65,019) | 331,008 | ||||
Global Small-Cap Fund | 64,051 | 7,294 | (10,462) | (3,168) | ||||
Health Sciences Fund | 174,350 | 16,116 | (12,242) | 3,874 |
NOTES TO FINANCIAL STATEMENTS (Continued)
Fund | Federal Tax Cost | Unrealized Appreciation | Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | ||||
Income & Growth Fund | $6,581,285 | $ 58,827 | $ (1,194,751) | $ (1,135,924) | ||||
Income & Growth Fund (Written Options) | (1,191) | 589 | (596) | (7) | ||||
Mid-Cap Growth Fund | 291,045 | 35,124 | (40,209) | (5,085) | ||||
NFJ Dividend Value Fund | 687,486 | 89,314 | (48,043) | 41,271 | ||||
NFJ International Value Fund | 128,799 | 6,380 | (23,003) | (16,623) | ||||
NFJ Large-Cap Value Fund | 280,910 | 29,180 | (19,556) | 9,624 | ||||
NFJ Mid-Cap Value Fund | 1,140,971 | 100,927 | (120,608) | (19,681) | ||||
NFJ Small-Cap Value Fund | 400,121 | 44,103 | (37,763) | 6,340 | ||||
Small-Cap Fund | 136,338 | 15,403 | (15,819) | (416) | ||||
Technology Fund | 1,328,444 | 211,015 | (171,989) | 39,026 |
Fund | Short-Term | Long-Term | ||
Emerging Markets Opportunities Fund | $ 9,610 | $ — | ||
NFJ International Value Fund | 248,530 | 180,014 |
Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Late Year Ordinary Losses Deferred | Post-October Capital Loss Deferred | Capital Loss Deferred | |||||
Emerging Markets Opportunities Fund | $ 1,138 | $ — | $ — | $ 2,701 | $ 9,610 | ||||
Focused Growth Fund | — | 32,630 | 510 | 29,796 | — | ||||
Global Small-Cap Fund | — | 1,608 | 211 | — | — | ||||
Health Sciences Fund | — | 14,536 | — | 5,877 | — | ||||
Income & Growth Fund | 16,846 | — | — | — | — | ||||
Mid-Cap Growth Fund | — | — | 550 | 11,367 | — | ||||
NFJ Dividend Value Fund | 8,322 | 78,408 | — | — | — | ||||
NFJ International Value Fund | 636 | — | — | 228 | 428,544 | ||||
NFJ Large-Cap Value Fund | 3,824 | 32,452 | — | — | — | ||||
NFJ Mid-Cap Value Fund | 50,797 | 122,786 | — | — | — | ||||
NFJ Small-Cap Value Fund | 5,919 | 32,921 | — | — | — | ||||
Small-Cap Fund | 178 | 4,606 | — | — | — | ||||
Technology Fund | — | 184,568 | 7,591 | 142,330 | — |
Ordinary Income | Long-Term Capital Gains | Return of Capital | Total | ||||
Emerging Markets Opportunities Fund | |||||||
6/30/22 | $ 5,310 | $ — | $ — | $ 5,310 | |||
6/30/21 | 3,612 | — | — | 3,612 | |||
Focused Growth Fund | |||||||
6/30/22 | 35,850 | 220,000 | — | 255,850 | |||
6/30/21 | 36,776 | 80,271 | — | 117,047 | |||
Global Small-Cap Fund | |||||||
6/30/22 | 12,623 | 10,117 | — | 22,740 | |||
6/30/21 | — | 3,848 | — | 3,848 |
NOTES TO FINANCIAL STATEMENTS (Continued)
Ordinary Income | Long-Term Capital Gains | Return of Capital | Total | ||||
Health Sciences Fund | |||||||
6/30/22 | $ 17,411 | $ 20,210 | $— | $ 37,621 | |||
6/30/21 | 9,251 | 13,602 | — | 22,853 | |||
Income & Growth Fund | |||||||
6/30/22 | 461,612 | — | — | 461,612 | |||
6/30/21 | 399,215 | 12,689 | — | 411,904 | |||
Mid-Cap Growth Fund | |||||||
6/30/22 | 27,480 | 97,130 | — | 124,610 | |||
6/30/21 | 1,165 | 42,087 | — | 43,252 | |||
NFJ Dividend Value Fund | |||||||
6/30/22 | 17,960 | 37,920 | — | 55,880 | |||
6/30/21 | 12,393 | 33 | — | 12,426 | |||
NFJ International Value Fund | |||||||
6/30/22 | 2,895 | — | — | 2,895 | |||
6/30/21 | 2,757 | — | — | 2,757 | |||
NFJ Large-Cap Value Fund | |||||||
6/30/22 | 10,795 | 9,800 | — | 20,595 | |||
6/30/21 | 2,847 | — | — | 2,847 | |||
NFJ Mid-Cap Value Fund | |||||||
6/30/22 | 76,780 | 90,600 | — | 167,380 | |||
6/30/21 | 15,493 | 2,348 | — | 17,841 | |||
NFJ Small-Cap Value Fund | |||||||
6/30/22 | 16,430 | 24,130 | — | 40,560 | |||
6/30/21 | 9,595 | 1,893 | — | 11,488 | |||
Small-Cap Fund | |||||||
6/30/22 | 6,120 | 16,330 | — | 22,450 | |||
6/30/21 | 310 | — | — | 310 | |||
Technology Fund | |||||||
6/30/22 | 300,890 | 289,700 | — | 590,590 | |||
6/30/21 | 52,984 | 344,589 | — | 397,573 |
NOTES TO FINANCIAL STATEMENTS (Continued)
Qualified Dividend Income % (non-corporate shareholder) | Dividend Received Deduction % (corporate shareholders) | Long-Term Capital Gain Distributions ($) | |||
Emerging Markets Opportunities Fund | 82.65 % | 1.38 % | $ — | ||
Focused Growth Fund | 59.97 | 57.37 | 88,110 | ||
Global Small-Cap Fund | — | — | 2,698 | ||
Health Sciences Fund | 48.19 | 28.04 | 21,956 | ||
Income & Growth Fund | 13.81 | 12.73 | 8,515 | ||
Mid-Cap Growth Fund | 100.00 | 100.00 | 18,628 | ||
NFJ Dividend Value Fund | 68.23 | 60.58 | 112,271 | ||
NFJ International Value Fund | 100.00 | 6.09 | — | ||
NFJ Large-Cap Value Fund | 52.07 | 49.27 | 37,692 | ||
NFJ Mid-Cap Value Fund | 25.74 | 24.81 | 152,192 | ||
NFJ Small-Cap Value Fund | 60.99 | 57.67 | 47,119 | ||
Small-Cap Fund | 100.00 | 100.00 | 6,913 | ||
Technology Fund | 20.33 | 11.02 | 212,649 |
Foreign Source Income Recognized | Foreign Taxes Paid on Foreign Source Income | ||
Emerging Markets Opportunities Fund | $ 10,289 | $ 2,161 | |
NFJ International Value Fund | 4,701 | 496 |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
Burke, Donald C. YOB: 1960 Served Since: 2021 103 Portfolios | Principal Occupation(s) During Past 5 Years Private investor (since 2009). Formerly, President and Chief Executive Officer, BlackRock U.S. Funds (2007 to 2009); Managing Director, BlackRock, Inc. (2006 to 2009); and Managing Director, Merrill Lynch Investment Managers (1990 to 2006). | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2016), Virtus Mutual Fund Family (61 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Alternative Solutions Trust (2 portfolios); Director (since 2014), closed-end funds managed by Duff & Phelps Investment Management Co. (3 funds); Director, Avista Corp. (energy company) (since 2011); Trustee, Goldman Sachs Fund Complex (2010 to 2014); and Director, BlackRock Luxembourg and Cayman Funds (2006 to 2010). |
Cogan, Sarah E. YOB: 1956 Served Since:2019 107 Portfolios | Retired Partner, Simpson Thacher & Bartlett LLP (“STB”) (law firm) (since 2019); Director, Girl Scouts of Greater New York (since 2016); Trustee, Natural Resources Defense Council, Inc. (since 2013); and formerly, Partner, STB (1989 to 2018). | Trustee (since 2022) and Advisory Board Member (2021 to 2022), Virtus Alternative Solutions Trust (2 portfolios), Virtus Mutual Fund Family (61 portfolios) and Virtus Variable Insurance Trust (8 portfolios); Trustee (since 2022) Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; PIMCO Access Income Fund; Trustee (since 2021), PIMCO Flexible Emerging Markets Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (February 2021 to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2021), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Trustee (since 2021), PIMCO Access Fund; Trustee (since 2019), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Trustee (since 2019), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Trustee (since 2019), PIMCO California Municipal Income Fund, PIMCO California Municipal Income Fund II, PIMCO California Municipal Income Fund III, PIMCO Municipal Income Fund, PIMCO Municipal Income Fund II, PIMCO Municipal Income Fund III, PIMCO New York Municipal Income Fund, PIMCO New York Municipal Income Fund II, PIMCO New York Municipal Income Fund III, PIMCO Energy and Tactical Credit Opportunities Fund, PCM Fund, Inc, PIMCO Corporate & Income Strategy Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Dynamic Income Fund, PIMCO Global StocksPLUS® & Income Fund, PIMCO High Income Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO Strategic Income Fund, Inc., PIMCO Flexible Credit Income Fund and PIMCO Flexible Municipal Income Fund; and Trustee (since 2019), PIMCO Managed Accounts Trust (5 portfolios); and Trustee (2019 to 2021), PIMCO Dynamic Credit and Mortgage Income Fund and PIMCO Income Opportunity Fund. |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
DeCotis, Deborah A. YOB: 1952 Served Since: 2014 107 Portfolios | Director, Cadre Holdings Inc. (since 2022); Advisory Director, Morgan Stanley & Co., Inc. (since 1996); Member, Circle Financial Group (since 2009); Member, Council on Foreign Relations (since 2013); and Trustee, Smith College (since 2017). Formerly, Director, Watford Re (2017 to 2021); Co-Chair Special Projects Committee, Memorial Sloan Kettering (2005 to 2015); and Trustee, Stanford University (2010 to 2015). | Trustee (since 2022) and Advisory Board Member (2021 to 2022), Virtus Alternative Solutions Trust (2 portfolios), Virtus Mutual Fund Family (61 portfolios) and Virtus Variable Insurance Trust (8 portfolios), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2022), PIMCO Access Income Fund; Trustee (since 2021), PIMCO Flexible Emerging Markets Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (February 2021 to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2021), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Trustee (since 2021), PIMCO Access Fund; Trustee (since 2020), PIMCO Dynamic Income Opportunities Fund; Trustee (since 2019), PIMCO Energy and Tactical Credit Opportunities Fund and Virtus Artificial Intelligence & Technology Opportunities Fund; Trustee (since 2018), PIMCO Flexible Municipal Income Fund Trustee (since 2017), PIMCO Flexible Credit Income Fund and Virtus Convertible & Income 2024 Target Term Fund; Trustee (since 2015), Virtus Diversified Income & Convertible Fund; Trustee (since 2014), Virtus Investment Trust (13 portfolios); Trustee (2013 to 2021), PIMCO Dynamic Credit and Mortgage Income Fund; Trustee (since 2012), PIMCO Dynamic Income Fund; Trustee (since 2011), Virtus Strategy Trust (8 portfolios); Trustee (since 2011), PIMCO California Municipal Income Fund II, PIMCO California Municipal Income Fund III, PIMCO Municipal Income Fund, PIMCO Municipal Income Fund II, PIMCO Municipal Income Fund III, PIMCO New York Municipal Income Fund, PIMCO New York Municipal Income Fund II, PIMCO New York Municipal Income Fund III, PCM Fund, Inc., PIMCO Corporate & Income Strategy Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Global StocksPLUS® & Income Fund, PIMCO High Income Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO Strategic Income Fund, Inc., PIMCO Managed Accounts Trust (5 portfolios); Trustee (since 2011), Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; and Trustee (2011 to 2021), PIMCO Income Opportunity Fund. |
Drummond, F. Ford YOB: 1962 Served Since: 2006 107 Portfolios | Owner/Operator (since 1998), Drummond Ranch; and Director (since 2015), Texas and Southwestern Cattle Raisers Association. Formerly Chairman, Oklahoma Nature Conservancy (2019 to 2020); Board Member (2006 to 2020) and Chairman (2016 to 2018), Oklahoma Water Resources Board; Director (1998 to 2008), The Cleveland Bank; and General Counsel (1998 to 2008), BMIHealth Plans (benefits administration). | Trustee (since 2022) and Advisory Board Member (2021 to 2022), Virtus Alternative Solutions Trust (2 portfolios), Virtus Mutual Fund Family (61 portfolios) and Virtus Variable Insurance Trust (8 portfolios), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, and Virtus Event Opportunities Trust (2 portfolios); Advisory Board Member (February 2021 to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2021), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Trustee (since 2019), Virtus Artificial Intelligence & Technology Opportunities Fund; Trustee (since 2017), Virtus Convertible & Income 2024 Target Term Fund; Trustee (since 2015), Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Dividend, Interest & Premium Strategy Fund and Virtus Equity & Convertible Income Fund; Trustee (since 2014), Virtus Strategy Trust (8 portfolios); Director (since 2011), Bancfirst Corporation; and Trustee (since 2006), Virtus Investment Trust (13 portfolios). |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
Harris, Sidney E. YOB: 1949 Served Since: 2021 100 Portfolios | Private Investor (since 2021); Dean Emeritus (since 2015), Professor (2015 to 2021 and 1997 to 2014), and Dean (1997 to 2004), J. Mack Robinson College of Business, Georgia State University. | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2019), Mutual Fund Directors Forum; Trustee (since 2017), Virtus Mutual Fund Family (61 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Alternative Solutions Trust (2 portfolios); Trustee (2013 to 2020) and Honorary Trustee (since 2020), KIPP Metro Atlanta; Director (1999 to 2019), Total System Services, Inc.; Trustee (2004 to 2017), RidgeWorth Funds; Chairman (2012 to 2017), International University of the Grand Bassam Foundation; Trustee (since 2012), International University of the Grand Bassam Foundation; and Trustee (2011 to 2015), Genspring Family Offices, LLC |
Mallin, John R. YOB: 1950 Served Since: 2021 100 Portfolios | Partner/Attorney (since 2003), McCarter & English LLP (law firm) Real Property Practice Group; and Member (since 2014), Counselors of Real Estate. | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fun® , The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2016), Virtus Mutual Fund Family (61 portfolios) and Virtus Alternative Solutions Trust (2 portfolios); Director (since 2019), 1892 Club, Inc. (non-profit); Director (2013 to 2020), Horizons, Inc. (non-profit); and Trustee (since 1999), Virtus Variable Insurance Trust (8 portfolios). |
McDaniel, Connie D. YOB: 1958 Served Since: 2021 100 Portfolios | Retired (since 2013). Vice President, Chief of Internal Audit, Corporate Audit Department (2009 to 2013); Vice President, Global Finance Transformation (2007 to 2009); and Vice President and Controller (1999 to 2007), The Coca-Cola Company. | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Director (since 2019), Global Payments Inc.; Chairperson (since 2019), Governance & Nominating Committee, Global Payments Inc; Trustee (since 2017), Virtus Mutual Fund Family (61 portfolios), Virtus Variable Insurance Trust (8 portfolios), and Virtus Alternative Solutions Trust (2 portfolios); Director (since 2021), North Florida Land Trust; Director (2014 to 2019), Total System Services, Inc.; Member (since 2011) and Chair (2014 to 2016), Georgia State University, Robinson College of Business Board of Advisors; and Trustee (2005 to 2017), RidgeWorth Funds. |
McLoughlin, Philip YOB: 1946 Served Since: 2021 110 Portfolios | Private investor since 2010. | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Trustee (since 2021), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund and Virtus Dividend, Interest & Premium Strategy Fund; Trustee (since 2022) and Advisory Board Member (2021), Virtus Convertible & Income 2024 Target Term Fund and Virtus Convertible & Income Fund; Director and Chairman (since 2016), Virtus Total Return Fund Inc.; Director and Chairman (2016 to 2019), the former Virtus Total Return Fund Inc.; Director and Chairman (2014 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee and Chairman (since 2013), Virtus Alternative Solutions Trust (2 portfolios); Trustee and Chairman (since 2011), Virtus Global Multi-Sector Income Fund; Chairman and Trustee (since 2003), Virtus Variable Insurance Trust (8 portfolios); Director (since 1995), closed-end funds managed by Duff & Phelps Investment Management Co. (3 funds); Director (1991 to 2019) and Chairman (2010 to 2019), Lazard World Trust Fund (closed-end investment firm in Luxembourg); and Trustee (since 1989) and Chairman (since 2002), Virtus Mutual Fund Family (61 portfolios). |
Name, Year of Birth, Length of Time Served and Number of Portfolios in Fund Complex Overseen by Trustee | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee During Past 5 Years |
McNamara, Geraldine M. YOB: 1951 Served Since: 2021 103 Portfolios | Private investor (since 2006); and Managing Director, U.S. Trust Company of New York (1982 to 2006). | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Director (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Director (since 2020), Virtus Total Return Fund Inc.; Trustee (since 2020), Virtus Global Multi-Sector Income Fund; Trustee (since 2016), Virtus Alternative Solutions Trust (2 portfolios); Trustee (since 2015), Virtus Variable Insurance Trust (8 portfolios); Director (since 2003), closed-end funds managed by Duff & Phelps Investment Management Co. (3 funds); and Trustee (since 2001), Virtus Mutual Fund Family (61 portfolios). |
Walton, R. Keith YOB: 1964 Served Since:2021 107 Portfolios | Venture and Operating Partner (since 2020), Plexo Capital, LLC; Venture Partner (since 2019) and Senior Adviser (2018 to 2019), Plexo, LLC; and Partner (since 2006), Global Infrastructure Partners. Formerly, Managing Director (2020 to 2021), Lafayette Square Holding Company LLC; Senior Adviser (2018 to 2019), Vatic Labs, LLC; Executive Vice President, Strategy (2017 to 2019), Zero Mass Water, LLC; and Vice President, Strategy (2013 to 2017), Arizona State University. | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2022), Virtus Diversified Income & Convertible Fund; Advisory Board Member (since 2022), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Equity & Convertible Income Fund and Virtus Dividend, Interest & Premium Strategy Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Trustee (since 2020) Virtus Alternative Solutions Trust (2 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Mutual Fund Family (61 portfolios); Director (since 2017), certain funds advised by Bessemer Investment Management LLC; Director (2016 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2016), Virtus Global Multi-Sector Income Fund; Director (2006 to 2019), Systematica Investments Limited Funds; Director (2006 to 2017), BlueCrest Capital Management Funds; Trustee (2014 to 2017), AZ Service; Director (since 2004), Virtus Total Return Fund Inc.; and Director (2004 to 2019), the former Virtus Total Return Fund Inc. |
Zino, Brian T. YOB: 1952 Served Since: 2021 107 Portfolios | Retired. Various roles (1982 to 2009), J. & W. Seligman & Co. Incorporated, including President (1994 to 2009). | Trustee (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Trustee (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Trustee (since 2022) and Advisory Board Member (2021), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Trustee (since 2020), Virtus Alternative Solutions Trust (2 portfolios), Virtus Variable Insurance Trust (8 portfolios) and Virtus Mutual Fund Family (61 portfolios); Director (2016 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee (since 2016), Virtus Global Multi-Sector Income Fund; Director (since 2014), Virtus Total Return Fund Inc.; Director (2014 to 2019), the former Virtus Total Return Fund Inc.; Trustee (since 2011), Bentley University; Director (1986 to 2009) and President (1994 to 2009), J&W Seligman Co. Inc.; Director (1998 to 2009), Chairman (2002 to 2004) and Vice Chairman (2000 to 2002), ICI Mutual Insurance Company; Member, Board of Governors of ICI (1998 to 2008). |
Principal Occupation(s) During Past 5 Years | Principal Occupation(s) During Past 5 Years and Other Directorships Held by Trustee | |
Aylward, George R.* Trustee and President YOB: 1964 Served Since: 2021 112 Portfolios | Director, President and Chief Executive Officer (since 2008), Virtus Investment Partners, Inc. and/or certain of its subsidiaries, and various senior officer positions with Virtus affiliates (since 2005). | Trustee, President and Chief Executive Officer (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Member, Board of Governors of the Investment Company Institute (since 2021); Trustee and President (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust (2 portfolios), Virtus Investment Trust (13 portfolios) and Virtus Strategy Trust (8 portfolios); Trustee, President and Chief Executive Officer (since 2021), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Chairman and Trustee (since 2015), Virtus ETF Trust II (5 portfolios); Director, President and Chief Executive Officer (2014 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Trustee and President (since 2013), Virtus Alternative Solutions Trust (2 portfolios); Director (since 2013), Virtus Global Funds, PLC (5 portfolios); Trustee (since 2012) and President (since 2010), Virtus Variable Insurance Trust (8 portfolios); Trustee, President and Chief Executive Officer (since 2011), Virtus Global Multi-Sector Income Fund; Trustee and President (since 2006) and Executive Vice President (2004 to 2006), Virtus Mutual Fund Family (61 portfolios); Director, President and Chief Executive Officer (since 2006), Virtus Total Return Fund Inc.; and Director, President and Chief Executive Officer (2006 to 2019), the former Virtus Total Return Fund Inc. |
Name, Address and Year of Birth | Position(s) Held with Trust and Length of Time Served | Principal Occupation(s) During Past 5 Years |
Batchelar, Peter J. YOB: 1970 | Senior Vice President (since 2021). | Senior Vice President, Product Development (since 2017), Vice President, Product Development (2008 to 2016), and various officer positions (since 2008), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Senior Vice President (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Senior Vice President (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust, Virtus Investment Trust, Virtus Strategy Trust, Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Senior Vice President (since 2017) and Vice President (2008 to 2016), Virtus Mutual Fund Family; Senior Vice President (since 2017) and Vice President (2010 to 2016), Virtus Variable Insurance Trust; Senior Vice President (since 2017) and Vice President (2013 to 2016), Virtus Alternative Solutions Trust; Senior Vice President (2017 to 2021) and Vice President (2016 to 2017), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Senior Vice President (since 2017) and Vice President (2016 to 2017), Virtus Total Return Fund Inc. and Virtus Global Multi-Sector Income Fund; and Senior Vice President (2017 to 2019) and Vice President (2016 to 2017), the former Virtus Total Return Fund Inc. |
Name, Address and Year of Birth | Position(s) Held with Trust and Length of Time Served | Principal Occupation(s) During Past 5 Years |
Bradley, W. Patrick YOB: 1972 | Executive Vice President, Chief Financial Officer and Treasurer (since 2021). | Executive Vice President, Fund Services (since 2016), Senior Vice President, Fund Services (2010 to 2016), and various officer positions (since 2006), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Executive Vice President, Chief Financial Officer and Treasurer (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Executive Vice President, Chief Financial Officer and Treasurer (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust, Virtus Investment Trust, Virtus Strategy Trust, Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Director (since 2019), Virtus Global Funds ICAV; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2011 to 2013), Chief Financial Officer and Treasurer (since 2004), Virtus Variable Insurance Trust; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2011 to 2013), Chief Financial Officer and Treasurer (since 2006), Virtus Mutual Fund Family; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2012 to 2013) and Chief Financial Officer and Treasurer (since 2010), Virtus Total Return Fund Inc.; Executive Vice President (2016 to 2019), Senior Vice President (2013 to 2016), Vice President (2012 to 2013), Chief Financial Officer and Treasurer (since 2010), the former Virtus Total Return Fund Inc.; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), Vice President (2011 to 2013), Chief Financial Officer and Treasurer (since 2011), Virtus Global Multi-Sector Income Fund; Executive Vice President ( 2016 to 2021), Senior Vice President (2014 to 2016), Chief Financial Officer and Treasurer (2014 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Executive Vice President (since 2016), Senior Vice President (2013 to 2016), and Chief Financial Officer and Treasurer (since 2013), Virtus Alternative Solutions Trust; Director (since 2013), Virtus Global Funds, PLC; and Vice President and Assistant Treasurer (since 2011), Duff & Phelps Utility and Infrastructure Fund Inc. |
Branigan, Timothy YOB: 1976 | Vice President and Fund Chief Compliance Officer (since 2022); Assistant Vice President and Deputy Fund Chief Compliance Officer (March to May 2022); and Assistant Vice President and Assistant Chief Compliance Officer (2021 to 2022) | Vice President and Fund Chief Compliance Officer (since 2022) and Assistant Vice President and Deputy Fund Chief Compliance Officer (March to May 2022), The Merger Fund®, The Merger Fund® VL, Virtus Alternative Solutions Trust, Virtus Event Opportunities Trust, Virtus Investment Trust, Virtus Mutual Fund Family, Virtus Strategy Trust, Virtus Variable Insurance Trust, Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, Virtus Dividend, Interest & Premium Strategy Fund, Virtus Global Multi-Sector Income Fund, Virtus Stone Harbor Emerging Markets Income Fund, Virtus Stone Harbor Emerging Markets Total Income Fund and Virtus Total Return Fund Inc.; Fund Chief Compliance Officer (since 2022), Deputy Fund Chief Compliance Officer (February 2022 to June 2022), and Assistant Chief Compliance Officer (2020 to 2022), ETFis Series Trust I and Virtus ETF Trust II; Assistant Vice President and Assistant Chief Compliance Officer (2021 to 2022), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund and Virtus Dividend, Interest & Premium Strategy Fund; Assistant Vice President and Assistant Chief Compliance Officer (2020 to 2022), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Assistant Vice President and Assistant Chief Compliance Officer (2019 to 2022), Virtus Mutual Fund Family, Virtus Variable Insurance Trust and Virtus Alternative Solutions Trust. |
Name, Address and Year of Birth | Position(s) Held with Trust and Length of Time Served | Principal Occupation(s) During Past 5 Years |
Carr, Kevin J. YOB: 1954 | Senior Vice President and Assistant Secretary (since 2021). | Vice President and Senior Counsel (2017 to Present), Senior Vice President (2009 to 2017), Vice President, Counsel and Secretary (2008 to 2009), and various officer positions (since 2005), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Assistant Secretary (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Senior Vice President and Assistant Secretary (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust, Virtus Investment Trust and Virtus Strategy Trust; Assistant Secretary, (since 2021), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Senior Vice President (since 2013), Vice President (2005 to 2013), Chief Legal Officer, Counsel and Secretary (since 2005), Virtus Mutual Fund Family; Senior Vice President (2013 to 2014), Vice President (2012 to 2013), Secretary and Chief Legal Officer (2005 to 2013), and Assistant Secretary (2013 to 2014 and since 2017), Virtus Total Return Fund Inc.; Senior Vice President (2013 to 2014), Vice President (2012 to 2013), Secretary and Chief Legal Officer (2005 to 2013) and Assistant Secretary (2013 to 2014 and 2017 to 2019), the former Virtus Total Return Fund Inc.; Senior Vice President (since 2017), Assistant Secretary (since 2013), Vice President, Chief Legal Officer, Counsel and Secretary (2010 to 2013), Virtus Variable Insurance Trust; Senior Vice President (2013 to 2014), Vice President (2011 to 2013), and Assistant Secretary (since 2011), Virtus Global Multi-Sector Income Fund; Assistant Secretary (2015 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Senior Vice President (since 2017) and Assistant Secretary (since 2013), Virtus Alternative Solutions Trust; Secretary (since 2015), ETFis Series Trust I; and Secretary (since 2015), Virtus ETF Trust II. |
Fromm, Jennifer YOB: 1973 | Vice President, Chief Legal Officer, Counsel and Secretary (since 2021). | Vice President (since 2016) and Senior Counsel (since 2007), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Vice President, Chief Legal Officer, Counsel and Secretary (since 2022), Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Vice President, Chief Legal Officer, Counsel and Secretary (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust, Virtus Investment Trust and Virtus Strategy Trust; Vice President and Assistant Secretary (since 2021), Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Vice President and Secretary (since 2020), DNP Select Income Fund Inc., Duff & Phelps Utility and Infrastructure Fund Inc., and DTF Tax-Free Income 2028 Term Fund Inc.; Assistant Secretary (since 2020), Duff & Phelps Utility and Corporate Bond Trust Inc.; Vice President, Chief Legal Officer, Counsel and Secretary (2020 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Vice President, Chief Legal Officer, Counsel and Secretary (since 2020), Virtus Total Return Fund Inc. and Virtus Global Multi-Sector Income Fund; Vice President (since 2017) and Assistant Secretary (since 2008), Virtus Mutual Funds Family; Vice President, Chief Legal Officer, Counsel and Secretary (since 2013), Virtus Variable Insurance Trust; and Vice President, Chief Legal Officer, and Secretary (since 2013), Virtus Alternative Solutions Trust. |
Name, Address and Year of Birth | Position(s) Held with Trust and Length of Time Served | Principal Occupation(s) During Past 5 Years |
Short, Julia R. YOB: 1972 | Senior Vice President (since 2017). | Senior Vice President, Product Development (since 2017), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Senior Vice President (since 2022), ETFis Series Trust I, Virtus ETF Trust II, Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Senior Vice President (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust, Virtus Investment Trust, Virtus Strategy Trust, Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Senior Vice President (2018 to 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; and Senior Vice President (since 2018), Virtus Global Multi-Sector Income Fund and Virtus Total Return Fund Inc.; Senior Vice President (2018 to 2019), the former Virtus Total Return Fund Inc.; Senior Vice President (since 2017), Virtus Mutual Fund Family; President and Chief Executive Officer, RidgeWorth Funds (2007 to 2017); and Managing Director, Product Manager, RidgeWorth Investments (2004 to 2017). |
Smirl, Richard W. YOB: 1967 | Executive Vice President (since 2021). | Executive Vice President, Product Management (since 2021), and Executive Vice President and Chief Operating Officer (since 2021), Virtus Investment Partners, Inc. and/or certain of its subsidiaries; Executive Vice President (since 2022), ETFis Series Trust I, Virtus ETF Trust II, Virtus Stone Harbor Emerging Markets Income Fund and Virtus Stone Harbor Emerging Markets Total Income Fund; Executive Vice President (since 2021), The Merger Fund®, The Merger Fund® VL, Virtus Event Opportunities Trust, Virtus Mutual Fund Family, Virtus Investment Trust, Virtus Strategy Trust, Virtus Artificial Intelligence & Technology Opportunities Fund, Virtus Convertible & Income 2024 Target Term Fund, Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II, Virtus Diversified Income & Convertible Fund, Virtus Equity & Convertible Income Fund, and Virtus Dividend, Interest & Premium Strategy Fund; Virtus Global Multi-Sector Income Fund, Virtus Global Multi-Sector Income Fund, and Virtus Total Return Fund Inc.; Executive Vice President (May to June 2021), Duff & Phelps Select MLP and Midstream Energy Fund Inc.; Chief Operating Officer (2018 to 2021), Russell Investments; Executive Director (Jan. to July 2018), State of Wisconsin Investment Board; and Partner and Chief Operating Officer (2004 to 2018), William Blair Investment Management. |
Statutory Prospectus dated October 28, 2021, as supplemented
• | Virtus Investment Advisers, Inc. (“VIA”), the investment adviser of the Fund, will manage the Fund directly. |
• | The current subadviser, Allianz Global Investors U.S. LLC. (“AllianzGI U.S.”) will be removed as subadviser of the Fund, and accordingly, all references to AllianzGI U.S. as subadviser to the Fund will be removed from the Fund’s prospectuses. |
Virtus Emerging Markets Opportunities Fund | Kunal Ghosh (since 2007) Lu Yu, CFA, CIPM (since 2010) |
Statutory Prospectus dated October 28, 2021, as supplemented
• | Silvant Capital Management LLC, (“Silvant”), an affiliate of Virtus Investment Advisers, Inc., will manage the Fund as subadviser. |
• | Michael A. Sansoterra, Sandeep Bhatia, PhD, CFA and Brandi Allen will be added as portfolio managers to the Fund. |
• | The current subadviser, Allianz Global Investors U.S. LLC. (“AllianzGI U.S.”) will be removed as subadviser of the Fund and, accordingly, all references to AllianzGI U.S., as subadviser of the Fund, and to Raphael L. Edelman and Kimberlee Millar, CFA, as portfolio managers of the Fund, will be removed from the Fund’s prospectuses. |
• | The Fund will be renamed the Virtus Silvant Focused Growth Fund. |
Virtus Silvant Focused Growth Fund | Silvant |
Virtus Silvant Focused Growth Fund | Michael A. Sansoterra (since July 2022) Sandeep Bhatia (since July 2022) Brandi Allen (since July 2022) |
Statutory Prospectus dated October 28, 2021, as supplemented
• | Kayne Anderson Rudnick Investment Management, LLC (“KAR”), an affiliate of Virtus Investment Advisers, Inc., will be managing the Virtus Global Small-Cap Fund (the “Fund”) as subadviser. |
• | Todd Beiley, CFA and Craig Thrasher, CFA will be added as portfolio managers of the Fund. |
• | The current subadviser, Allianz Global Investors U.S. LLC. (“AllianzGI U.S.”) will be removed as subadviser of the Fund and all references to AllianzGI U.S., as subadviser of the Fund, and to Andrew Neville, Bjoern Mehrmann, CFA, CMA, Heinrich Ey, CFA, DVFA, CEFA, Koji Nakatsuka, CFA, CMA, Miguel Pohl, CFA, Stuart Winchester, CFA, Jeffrey Parker, CFA, Moritz Dufner, CFA, CAIA and Mark W. Phanitsiri, CFA, as portfolio managers of the Fund, will be removed from the Fund’s prospectuses. |
• | The Fund will be renamed the Virtus KAR Global Small-Cap Fund. |
There is a risk that a fund’s portfolio may be more susceptible to factors adversely affecting issuers of securities in the fund’s portfolio than would a fund holding a greater number of securities.
The redemption by one or more large shareholders or groups of shareholders of their holdings in the fund could have an adverse impact on the remaining shareholders in the fund by, for example, accelerating the realization of capital gains and/or increasing the fund’s transaction costs.
Virtus KAR Global Small-Cap Fund | KAR |
Virtus KAR Global Small-Cap Fund | Todd Beiley (since July 2022) Craig Thrasher (since July 2022) |
• | Kayne Anderson Rudnick Investment Management, LLC (“KAR”) will manage the Fund as subadviser. |
• | Chris Armbruster, CFA and Jon Christensen, CFA will be added as portfolio managers of the Fund. |
• | The current subadviser, Allianz Global Investors U.S. LLC. (“AllianzGI U.S.”) will be removed as subadviser of the Fund, and all references to AllianzGI U.S., as subadviser of the Fund, and to Peter Pirsch, CFA and Christopher Chin, as portfolio managers of the Fund, will be removed from the Fund’s prospectuses. |
• | The Fund will be renamed the Virtus KAR Health Sciences Fund. |
Virtus KAR Health Sciences Fund | KAR |
Virtus KAR Health Sciences Fund | Chris Armbruster (since July 2022) Jon Christensen (since July 2022) |
• | Voya Investment Management Co., LLC, (“Voya”), will manage the Fund as subadviser. |
• | The current subadviser, Allianz Global Investors U.S. LLC. (“AllianzGI U.S.”) will be removed as subadviser of the Fund, and accordingly, all references to AllianzGI U.S. as subadviser of the Fund will be removed from the Fund’s prospectuses. |
Virtus Income & Growth Fund | Voya |
• | Silvant Capital Management LLC, (“Silvant”), an affiliate of Virtus Investment Advisers, Inc., will manage the Fund as subadviser. |
• | Michael A. Sansoterra, Sandeep Bhatia, PhD, CFA and Sowmdeb Sen will be added as portfolio managers of the Fund. |
• | The current subadviser, Allianz Global Investors U.S. LLC. (“AllianzGI U.S.”) will be removed as subadviser of the Fund and, accordingly, all references to AllianzGI U.S., as subadviser of the Fund, and to Raymond F. Cunha, CFA and Jeffrey D. Parker, as portfolio managers of the Fund, will be removed from the Fund’s prospectuses. |
• | The Fund will be renamed the Virtus Silvant Mid-Cap Growth Fund. |
Virtus Silvant Mid-Cap Growth Fund | Silvant |
Virtus Silvant Mid-Cap Growth Fund | Michael A. Sansoterra (since July 2022) Sandeep Bhatia (since July 2022) Sowmdeb Sen (since July 2022) |
Statutory Prospectus dated October 28, 2021, as supplemented
• | Virtus Investment Advisers, Inc. (“VIA”), investment adviser of the Fund, will manage the Fund directly. |
• | Jie Wei will be added as portfolio manager of the Fund, joining Kunal Ghosh and Lu Yu, CFA, CIPM. |
• | The current subadviser, Allianz Global Investors U.S. LLC. (“AllianzGI U.S.”) will be removed as subadviser of the Fund, and all references to AllianzGI U.S., as subadviser of the Fund, and to Jeffrey |
• | Quantitative Core. The Quantitative Core sleeve normally invests primarily in common stocks of companies with smaller market capitalizations that are listed on U.S. exchanges. The team’s quantitative investment process begins with a proprietary alpha model which blends behavioral factors (e.g., human behaviors and biases) and intrinsic valuation factors (e.g., tangible measures of a company’s underlying worth). The team utilizes a risk model for portfolio |
• | Quantitative Growth. The growth sleeve is managed similar to the core sleeve but against a growth index. This sleeve normally invests primarily in common stocks of companies with smaller market capitalizations that are listed on U.S. exchanges. The team’s quantitative investment process begins with a proprietary alpha model which blends behavioral factors (e.g., human behaviors and biases) and intrinsic valuation factors (e.g., tangible measures of a company’s underlying worth). The team utilizes a risk model for portfolio construction, with constraints at the individual security and industry levels to manage exposures relative to the benchmark. Additionally, all investment recommendations are thoroughly vetted at the individual company level to confirm the investment rationale and suitability before a purchase or sale. |
• | Managed Volatility. The Managed Volatility sleeve selects primarily common stocks of smaller-cap companies which in aggregate offer lower forecast risk and lower levels of correlation among the individual stocks. This focus may result in the sleeve outperforming the general securities market during periods of flat or negative market performance, and underperforming the general securities market during periods of strong positive market performance. This strategy utilizes both a quantitative and fundamental research process to make individual security and sector selection decisions. |
• | Quantitative Core; |
• | Quantitative Growth; and |
• | Managed Volatility. |
Virtus Small-Cap Fund | Kunal Ghosh (since 2013) Lu Yu, CFA, CIPM (since 2018) Jie Wei (since July 2022) |
Statutory Prospectus dated October 28, 2021, as supplemented
• | Zevenbergen Capital Investments LLC (“Zevenbergen”), will manage the Fund as subadviser. |
• | Brooke de Boutray, CFA, Joseph Dennison, CFA, Anthony Zackery, CFA and Nancy Zevenbergen, CFA will be added as portfolio managers of the Fund. |
• | The current subadviser Allianz Global Investors U.S. LLC (“AllianzGI U.S.”) will be removed as subadviser of the Fund and, all references to AllianzGI U.S., as subadviser of the Fund, and to Huachen Chen, CFA, Walter C. Price, Jr., CFA, Michael A. Seidenberg, Justin Sumner, CFA and Erik Swords as portfolio managers of the Fund, will be removed from the Fund’s prospectuses. |
• | The Fund will be renamed the Virtus Zevenbergen Technology Fund. |
Virtus Zevenbergen Technology Fund | Zevenbergen |
Virtus Zevenbergen Technology Fund | Brooke de Boutray (since July 2022) Joseph Dennison (since July 2022) Anthony Zackery (since July 2022) Nancy Zevenbergen (since July 2022) |
Accounting Firm
Mutual Fund Services | 1-800-243-1574 |
Adviser Consulting Group | 1-800-243-4361 |
Website | Virtus.com |
The Securities and Exchange Commission has modified mailing regulations for semiannual and annual shareholder fund reports to allow mutual fund companies to send a single copy of these reports to shareholders who share the same mailing address. If you would like additional copies, please call Mutual Fund Services at 1-800-243-1574.
please contact us at 1-800-243-1574, or visit Virtus.com.
8074 | 08-22 |
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, 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, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | Other than certain non-substantive changes, there have been no amendments during the period covered by this report, to a provision of the 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, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics described in Item 2(b) of the instructions for completion of Form N-CSR. A copy of the currently applicable code is included as an exhibit. |
(d) | The registrant has not granted any waivers, during the period covered by this report, including an implicit waiver, from a provision of the 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, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of the instructions for completion of this Item. |
Item 3. Audit Committee Financial Expert.
(a)(1) | The Registrant’s Board of Trustees has determined that the Registrant has an “audit committee financial expert” serving on its Audit Committee. |
(a)(2) | The Registrant’s Board of Trustees has determined that each of Donald C. Burke, Connie D. McDaniel and Brian T. Zino possesses the technical attributes identified in Instruction 2(b) of Item 3 to Form N-CSR to qualify as an “audit committee financial expert.” Each such individual is an “independent” trustee pursuant to paragraph (a)(2) of Item 3 to Form N-CSR. |
Item 4. Principal Accountant Fees and Services.
Audit Fees
(a) | The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years are $327,690 for 2022 and $297,900 for 2021. |
Audit-Related Fees
(b) | The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item are $37,836 for 2022 and $0 for 2021. |
Tax Fees
(c) | The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning are $81,605 for 2022 and $74,520 for 2021. |
“Tax Fees” are those primarily associated with review of the Trust’s tax provision and qualification as a regulated investment company (RIC) in connection with audits of the Trust’s financial statement, review of year-end distributions by the Fund to avoid excise tax for the Trust, periodic discussion with management on tax issues affecting the Trust, and reviewing and signing the Fund’s federal income tax returns.
All Other Fees
(d) | The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item are $0 for 2022 and $0 for 2021. |
(e)(1) | Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
Virtus Investment Trust’s (the “Fund”) Board of Trustees has adopted policies and procedures with regard to the pre-approval of services provided by the Registrant’s auditors. Audit, audit-related and tax compliance services provided to the Fund on an annual basis require specific pre-approval by the Audit Committee. The Audit Committee must also approve other non-audit services provided to the Fund and those non-audit services provided to the Fund’s Affiliated Service Providers that relate directly to the operations and financial reporting of the Fund. Certain of these non-audit services that the Audit Committee believes are a) consistent with the SEC’s auditor independence rules and b) routine and recurring services that will not impair the independence of the independent auditors may be approved by the Audit Committee without consideration on a specific case-by-case basis (“general pre-approval”).
The Audit Committee has determined that the Chair of the Audit Committee may provide pre-approval for such services that meet the above requirements in the event such approval is sought between regularly scheduled meetings. In any event, the Audit Committee is informed of each service approved subject to general pre-approval at the next regularly scheduled in-person Audit Committee meeting.
(e)(2) | The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X are as follows: |
(b) 0%
(c) 0%
(d) N/A
(f) | The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than fifty percent. |
(g) | The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant was $81,605 for 2022 and $74,520 for 2021. |
(h) | The registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
(i) | Not applicable. |
(j) | Not applicable. |
Item 5. Audit Committee of Listed Registrants.
Disclosure not required for open-end management investment companies.
Item 6. Investments.
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1(a) of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Disclosure not required for open-end management investment companies.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Disclosure not required for open-end management investment companies.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Disclosure not required for open-end management investment companies.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these 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 (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Disclosure not required for open-end management investment companies.
Item 13. Exhibits.
(a)(1) |
(a)(2) |
(a)(2)(1) | Not applicable. |
(a)(2)(2) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | Virtus Investment Trust |
By (Signature and Title)* | /s/ George R. Aylward | |
George R. Aylward, President | ||
(principal executive officer) |
Date 9/1/22
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ George R. Aylward | |
George R. Aylward, President | ||
(principal executive officer) |
Date 9/1/22
By (Signature and Title)* | /s/ W. Patrick Bradley | |
W. Patrick Bradley, Executive Vice President, | ||
Chief Financial Officer, and Treasurer | ||
(principal financial officer) |
Date 9/1/22
* | Print the name and title of each signing officer under his or her signature. |