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: 811-06650

LORD ABBETT RESEARCH FUND, INC.

(Exact name of Registrant as specified in charter)

90 Hudson Street, Jersey City, New Jersey 07302-3973

(Address of principal executive offices) (Zip code)

Randolph A. Stuzin, Esq.

Vice President and Assistant Secretary

Member, Chief Legal Officer of Lord, Abbett & Co. LLC

90 Hudson Street, Jersey City, New Jersey 07302-3973

(Name and address of agent for service)

Registrant’s telephone number, including area code: (888) 522-2388

Date of fiscal year end: 11/30

Date of reporting period: 5/31/2024

Item 1:

Report(s) to Shareholders.

Class C

LSRCX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Small-Cap Value Fund for the period of December 1, 2023 to May 31, 2024, as well as certain changes to the Fund. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$106	1.96%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

TSR-SA-674-C

07/24

Class R5

LRSTX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$52	0.96%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8749-R5

07/24

Class R4

LGOSX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Growth Opportunities Fund for the period of December 1, 2023 to May 31, 2024, as well as certain changes to the Fund. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$52	0.96%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8716-R4

07/24

Class R4

LAMSX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Dividend Growth Fund for the period of December 1, 2023 to May 31, 2024, as well as certain changes to the Fund. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$48	0.89%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8715-R4

07/24

Class A

LAMAX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$48	0.89%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-573-A

07/24

Class R2

LRSQX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$84	1.56%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-1093-R2

07/24

Class R6

LRSVX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$48	0.88%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8781-R6

07/24

Class F

LGOFX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$44	0.81%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-1021-F

07/24

Class P

LRSPX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class P	$76	1.41%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-605-P

07/24

Class F

LAMFX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$34	0.64%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-1020-F

07/24

Class F3

LRSOX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$48	0.88%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8960-F3

07/24

Class I

LMGYX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$38	0.71%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-692-I

07/24

Class R3

LRSRX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$79	1.46%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-2067-R3

07/24

Class C

LMGCX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$92	1.71%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-680-C

07/24

Class P

LAMPX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class P	$59	1.09%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-576-P

07/24

Class R5

LGOTX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$38	0.71%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8748-R5

07/24

Class R2

LGOQX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$71	1.31%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-1091-R2

07/24

Class R5

LAMTX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$34	0.64%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8747-R5

07/24

Class A

LRSCX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$65	1.21%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-261-A

07/24

Class R6

LGOVX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$34	0.63%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8780-R6

07/24

Class R3

LGORX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$65	1.21%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-2065-R3

07/24

Class I

LAMYX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$34	0.64%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-577-I

07/24

Class R4

LRSSX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$65	1.21%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8717-R4

07/24

Class F3

LOMGX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$34	0.63%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8957-F3

07/24

Class R2

LAMQX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$67	1.24%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-1090-R2

07/24

Class P

LGOPX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class P	$63	1.16%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-606-P

07/24

Class F

LRSFX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$57	1.06%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-1023-F

07/24

Class R6

LAMHX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$31	0.58%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8779-R6

07/24

Class C

LAMCX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$88	1.64%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-575-C

07/24

Class A

LMGAX

Lord Abbett Growth Opportunities Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$52	0.96%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$454,917,924
# of Portfolio Holdings	72
Portfolio Turnover Rate	58%
Total Advisory Fees Paid	$1,079,510

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communications	17.89%
Consumer Cyclical	14.57%
Consumer Non-Cyclical	17.42%
Financial	7.40%
Industrial	14.42%
Technology	27.13%
Repurchase Agreements	1.17%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-260-A

07/24

Class I

LRSYX

Lord Abbett Small-Cap Value Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$52	0.96%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$402,905,673
# of Portfolio Holdings	69
Portfolio Turnover Rate	28%
Total Advisory Fees Paid	$1,480,433

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	3.93%
Consumer Discretionary	9.70%
Consumer Staples	2.48%
Energy	9.64%
Financials	25.11%
Healthcare	6.31%
Industrials	17.38%
Information Technology	13.14%
Materials	6.11%
Real Estate	2.72%
Utilities	1.22%
Repurchase Agreements	0.89%
Money Market Funds^{Footnote Reference(a)}	1.23%
Time Deposits^{Footnote Reference(a)}	0.14%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives
Footnote(a)	Securities were purchased with the cash collateral from loaned securities.

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-687-I

07/24

Class F3

LRMAX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$31	0.58%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-8953-F3

07/24

Class R3

LAMRX

Lord Abbett Dividend Growth Fund

Semi-Annual Shareholder Report

May 31, 2024

www.lordabbett.com/FundDocuments

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$61	1.14%

Key Fund Statistics

(as of May 31, 2024)

Total Net Assets	$3,849,464,967
# of Portfolio Holdings	55
Portfolio Turnover Rate	13%
Total Advisory Fees Paid	$9,849,575

What did the Fund invest in?

(as of May 31, 2024)

Portfolio Holdings Presented by Sector^{Footnote Reference*}	% ^{Footnote Reference**}
Communication Services	1.39%
Consumer Discretionary	5.44%
Consumer Staples	8.25%
Energy	4.66%
Financials	19.08%
Health Care	12.02%
Industrials	8.90%
Information Technology	30.62%
Materials	4.72%
Utilities	3.84%
Repurchase Agreements	1.08%
Total	100.00%

Footnote	Description
Footnote*	A sector may comprise several industries
Footnote**	Represents percent of total investments, which excludes derivatives

Summary of Fund Changes

There were no material fund changes during the period.

Where can I find additional information about the Fund?

TSR-SA-2064-R3

07/24

Item 1(b):	Not applicable.

Item 2:	Code of Ethics.
	Not applicable.

Item 3:	Audit Committee Financial Expert.
	Not applicable.

Item 4:	Principal Accountant Fees and Services.
	Not applicable.

Item 5:	Audit Committee of Listed Registrants.
	Not applicable.

Item 6:	Investments.
	The Registrant’s “Schedule I - Investments in securities of unaffiliated issuers” as of the close of the reporting period is included under Item 7 of this Form N-CSR.

Item 7:	Financial Statements and Financial Highlights for Open-End Management Investment Companies.

Item 8:	Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Item 9:	Proxy Disclosures for Open-End Management Investment Companies.

Item 10:	Remuneration Paid to Directors, Officers, and Others for Open-End Management Investment Companies.

Item 11:	Statement Regarding Basis for Approval of Investment Advisory Contract.

LORD ABBETT
FINANCIAL STATEMENTS
AND OTHER IMPORTANT
INFORMATION

Lord Abbett

Dividend Growth Fund

Growth Opportunities Fund

Small Cap Value Fund

For the six-month period ended May 31, 2024

Table of Contents

		Schedules of Investments (Item 7):

1		Dividend Growth Fund

4		Growth Opportunities Fund

8		Small Cap Value Fund

12		Statements of Assets and Liabilities (Item 7)

14		Statements of Operations (Item 7)

16		Statements of Changes in Net Assets (Item 7)

18		Financial Highlights (Item 7)

30		Notes to Financial Statements (Item 7)

46		Changes in and Disagreements with Accountants (Item 8)

46		Proxy Disclosures (Item 9)

46		Remuneration Paid to Directors, Officers, and Others (Item 10)

46		Statement Regarding Basis for Approval of Investment Advisory Contract (Item 11)

Schedule of Investments (unaudited)

DIVIDEND GROWTH FUND May 31, 2024

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 98.85%

COMMON STOCKS 98.85%

Aerospace & Defense 1.38%
Northrop Grumman Corp.		117,635	$	53,026,329

Banks 4.76%
Bank of America Corp.		2,485,937		99,412,621
JPMorgan Chase & Co.		413,266		83,740,089
Total				183,152,710

Beverages 2.17%
Coca-Cola Co.		1,043,288		65,654,114
Pernod Ricard SA^(a)		120,233		18,005,236
Total				83,659,350

Biotechnology 2.44%
AbbVie, Inc.		583,030		94,007,757

Capital Markets 7.33%
Ameriprise Financial, Inc.		106,849		46,651,342
Charles Schwab Corp.		999,305		73,229,070
Evercore, Inc. Class A		179,990		36,527,171
Morgan Stanley		739,738		72,375,966
S&P Global, Inc.		125,012		53,443,880
Total				282,227,429

Chemicals 1.02%
Sherwin-Williams Co.		129,479		39,335,720

Construction Materials 2.03%
CRH PLC		955,179		78,095,435

Consumer Staples Distribution & Retail 3.76%
Costco Wholesale Corp.		68,576		55,539,017
Walmart, Inc.		1,357,714		89,283,272
Total				144,822,289

Electric: Utilities 2.45%
NextEra Energy, Inc.		1,179,668		94,397,034

Electrical Equipment 1.47%
Eaton Corp. PLC		170,145		56,632,763

Investments	Shares		Fair Value
Financial Services 3.27%
Jack Henry & Associates, Inc.		162,193	$	26,709,943
Mastercard, Inc. Class A		222,087		99,288,435
Total				125,998,378

Ground Transportation 3.40%
Old Dominion Freight Line, Inc.		296,152		51,900,638
Union Pacific Corp.		338,997		78,925,282
Total				130,825,920

Health Care Equipment & Supplies 1.64%
Abbott Laboratories		615,284		62,875,872

Health Care Providers & Services 2.75%
UnitedHealth Group, Inc.		213,868		105,943,791

Hotels, Restaurants & Leisure 1.30%
McDonald’s Corp.		193,354		50,057,417

Information Technology Services 1.59%
Accenture PLC Class A (Ireland)^(b)		216,224		61,037,873

Insurance 3.70%
Allstate Corp.		192,781		32,294,673
Arthur J Gallagher & Co.		196,748		49,842,171
Chubb Ltd. (Switzerland)^(b)		222,709		60,314,051
Total				142,450,895

Life Sciences Tools & Services 2.32%
Danaher Corp.		225,183		57,826,994
West Pharmaceutical Services, Inc.		95,014		31,488,590
Total				89,315,584

Machinery 2.14%
Parker-Hannifin Corp.		154,980		82,374,970

Media 1.39%
Comcast Corp. Class A		1,331,512		53,300,426

See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

DIVIDEND GROWTH FUND May 31, 2024

Investments	Shares		Fair Value
Metals & Mining 1.66%
Reliance, Inc.		139,991	$	42,106,493
Steel Dynamics, Inc.		163,453		21,881,453
Total				63,987,946

Multi-Utilities 1.38%
CMS Energy Corp.		845,055		53,179,311

Oil, Gas & Consumable Fuels 4.66%
Exxon Mobil Corp.		1,400,401		164,211,021
Marathon Petroleum Corp.		85,598		15,117,463
Total				179,328,484

Pharmaceuticals 2.87%
Eli Lilly & Co.		125,303		102,791,063
Zoetis, Inc.		44,997		7,629,691
Total				110,420,754

Professional Services 0.51%
Verisk Analytics, Inc.		77,047		19,475,941

Semiconductors & Semiconductor Equipment 13.63%
Analog Devices, Inc.		305,816		71,710,794
Broadcom, Inc.		57,169		75,951,875
Lam Research Corp.		68,250		63,639,030
NVIDIA Corp.		231,321		253,604,152
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		396,030		59,816,371
Total				524,722,222

Software 12.54%
Intuit, Inc.		32,115		18,512,371
Microsoft Corp.		816,115		338,793,820
Oracle Corp.		448,061		52,508,268
Roper Technologies, Inc.		136,847		72,906,608
Total				482,721,067

Specialty Retail 4.13%
Home Depot, Inc.		119,000		39,849,530
Lowe’s Cos., Inc.		207,236		45,859,255
TJX Cos., Inc.		711,670		73,373,177
Total				159,081,962

Investments	Shares		Fair Value
Technology Hardware, Storage & Peripherals 2.85%
Apple, Inc.		569,932	$	109,569,427

Tobacco 2.31%
Philip Morris International, Inc.		878,263		89,038,303
Total Common Stocks (cost $2,522,763,327)				3,805,063,359

	Principal Amount
SHORT-TERM INVESTMENTS 1.08%

Repurchase Agreements 1.08%
Repurchase Agreement dated 5/31/2024, 2.800% due 6/3/2024 with Fixed Income Clearing Corp. collateralized by $46,170,800 of U.S. Treasury Note at 0.750% due 5/31/2026; value: $42,533,125; proceeds: $41,708,717 (cost $41,698,987)	$	41,698,987		41,698,987
Total Investments in Securities 99.93% (cost $2,564,462,314)				3,846,762,346
Other Assets and Liabilities – Net 0.07%				2,702,621
Net Assets 100.00%			$	3,849,464,967

ADR		American Depositary Receipt.
^(a)		Investment in non-U.S. dollar denominated securities.
^(b)		Foreign security traded in U.S. dollars.

2	See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

DIVIDEND GROWTH FUND May 31, 2024

The following is a summary of the inputs used as of May 31, 2024 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks
Beverages	$	65,654,114	$	18,005,236	$	–	$	83,659,350
Remaining Industries		3,721,404,009		–		–		3,721,404,009
Short-Term Investments
Repurchase Agreements		–		41,698,987		–		41,698,987
Total	$	3,787,058,123	$	59,704,223	$	–	$	3,846,762,346

	⁽¹⁾		Refer to Note 2(i) for a description of fair value measurements and the three-tier hierarchy of inputs.
	⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Financial Statements.

Schedule of Investments (unaudited)

GROWTH OPPORTUNITIES FUND May 31, 2024

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 97.49%

COMMON STOCKS 97.49%

Aerospace & Defense 3.76%
Axon Enterprise, Inc.*		24,295	$	6,843,173
TransDigm Group, Inc.		7,633		10,252,874
Total				17,096,047

Beverages 0.51%
Celsius Holdings, Inc.*		29,224		2,337,335

Biotechnology 6.58%
Arcellx, Inc.*		40,961		2,129,972
Blueprint Medicines Corp.*		39,965		4,218,705
Krystal Biotech, Inc.*		27,229		4,358,001
Natera, Inc.*		96,266		10,255,217
Neurocrine Biosciences, Inc.*		42,107		5,701,709
SpringWorks Therapeutics, Inc.*		78,845		3,268,914
Total				29,932,518

Broadline Retail 3.25%
Coupang, Inc.*		297,016		6,754,144
MercadoLibre, Inc. (Uruguay)*^(a)		4,645		8,015,319
Total				14,769,463

Building Products 3.08%
Advanced Drainage
Systems, Inc.		21,189		3,676,080
Lennox International, Inc.		7,297		3,667,472
Trex Co., Inc.*		77,107		6,668,213
Total				14,011,765

Capital Markets 5.54%
ARES Management Corp. Class A		51,428		7,208,663
Cboe Global Markets, Inc.		23,638		4,089,138
Coinbase Global, Inc. Class A*		28,688		6,481,193
Tradeweb Markets, Inc. Class A		68,221		7,436,771
Total				25,215,765

Investments	Shares		Fair Value
Commercial Services & Supplies 1.77%
Copart, Inc.*		64,640	$	3,429,798
Tetra Tech, Inc.		21,989		4,606,476
Total				8,036,274

Communications Equipment 1.97%
Arista Networks, Inc.*		30,127		8,967,302

Construction & Engineering 5.15%
Comfort Systems USA, Inc.		20,591		6,740,258
EMCOR Group, Inc.		22,668		8,810,145
Quanta Services, Inc.		28,518		7,869,257
Total				23,419,660

Consumer Staples Distribution & Retail 0.99%
Maplebear, Inc.*		147,323		4,490,405

Diversified Consumer Services 0.28%
Duolingo, Inc.*		6,784		1,298,458

Electrical Equipment 2.45%
Vertiv Holdings Co. Class A		113,625		11,143,204

Entertainment 3.09%
Spotify Technology SA (Sweden)*^(a)		47,337		14,048,675

Financial Services 2.89%
Apollo Global Management, Inc.		68,761		7,987,278
Toast, Inc. Class A*		213,589		5,175,261
Total				13,162,539

Ground Transportation 1.67%
Lyft, Inc. Class A*		338,567		5,285,031
Saia, Inc.*		5,621		2,301,687
Total				7,586,718

Health Care Equipment & Supplies 4.06%
Dexcom, Inc.*		63,497		7,541,539
Glaukos Corp.*		51,127		5,763,035
RxSight, Inc.*		88,166		5,155,066
Total				18,459,640

4	See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GROWTH OPPORTUNITIES FUND May 31, 2024

Investments	Shares		Fair Value
Hotels, Restaurants & Leisure 9.78%
Cava Group, Inc.*		102,212	$	9,459,720
Chipotle Mexican Grill, Inc.*		3,374		10,559,000
DoorDash, Inc. Class A*		59,884		6,593,827
DraftKings, Inc. Class A*		175,151		6,153,055
Royal Caribbean Cruises Ltd.*		40,232		5,941,462
Wingstop, Inc.		15,664		5,774,534
Total				44,481,598

Household Durables 1.26%
Lennar Corp. Class A		35,722		5,728,023

Information Technology Services 0.73%
Shopify, Inc. Class A (Canada)*^(a)		56,079		3,317,073

Interactive Media & Services 2.95%
Pinterest, Inc. Class A*		242,263		10,051,492
Reddit, Inc. Class A*		62,576		3,394,122
Total				13,445,614

Life Sciences Tools & Services 0.72%
Bio-Techne Corp.		42,588		3,287,368

Media 2.06%
Trade Desk, Inc. Class A*		100,957		9,366,790

Professional Services 1.37%
Booz Allen Hamilton Holding Corp.		40,844		6,216,865

Real Estate Management & Development 1.08%
CoStar Group, Inc.*		62,613		4,894,458

Semiconductors & Semiconductor Equipment 6.09%
Entegris, Inc.		54,041		6,828,080
KLA Corp.		6,590		5,005,303
Monolithic Power Systems, Inc.		14,180		10,431,233
Onto Innovation, Inc.*		25,135		5,446,755
Total				27,711,371

Investments	Shares		Fair Value
Software 19.42%
AppLovin Corp. Class A*		101,902	$	8,302,975
Cadence Design Systems, Inc.*		19,037		5,450,483
Crowdstrike Holdings, Inc. Class A*		34,592		10,850,473
CyberArk Software Ltd. (Israel)*^(a)		37,866		8,680,781
Datadog, Inc. Class A*		83,097		9,155,627
Gitlab, Inc. Class A*		85,052		4,013,604
HubSpot, Inc.*		19,882		12,148,896
Monday.com Ltd. (Israel)*^(a)		30,125		6,805,539
Palantir Technologies, Inc. Class A*		267,561		5,800,722
Procore Technologies, Inc.*		61,154		4,105,268
Samsara, Inc. Class A*		128,290		4,352,880
Synopsys, Inc.*		6,239		3,498,831
Zscaler, Inc.*		30,592		5,199,416
Total				88,365,495

Specialty Retail 1.84%
Carvana Co.*		29,379		2,937,312
Ross Stores, Inc.		39,054		5,458,187
Total				8,395,499

Technology Hardware, Storage & Peripherals 0.96%
Super Micro Computer, Inc.*		5,556		4,358,738

Textiles, Apparel & Luxury Goods 2.19%
Deckers Outdoor Corp.*		5,949		6,507,730
On Holding AG Class A (Switzerland)*^(a)		80,983		3,445,017
Total				9,952,747
Total Common Stocks (cost $326,723,099)				443,497,407

See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

GROWTH OPPORTUNITIES FUND May 31, 2024

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 1.15%

Repurchase Agreements 1.15%
Repurchase Agreement dated 5/31/2024, 2.800% due 6/3/2024 with Fixed Income Clearing Corp. collateralized by $5,809,200 of U.S. Treasury Note at 0.750% due 5/31/2026; value: $5,351,511; proceeds: $5,247,779 (cost $5,246,555)	$	5,246,555	$	5,246,555
Total Investments in Securities 98.64% (cost $331,969,654)				448,743,962
Other Assets and Liabilities – Net 1.36%				6,173,962
Net Assets 100.00%			$	454,917,924

*		Non-income producing security.
^(a)		Foreign security traded in U.S. dollars.

6	See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

GROWTH OPPORTUNITIES FUND May 31, 2024

The following is a summary of the inputs used as of May 31, 2024 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	443,497,407	$	–	$	–	$	443,497,407
Short-Term Investments
Repurchase Agreements		–		5,246,555		–		5,246,555
Total	$	443,497,407	$	5,246,555	$	–	$	448,743,962

	⁽¹⁾		Refer to Note 2(i) for a description of fair value measurements and the three-tier hierarchy of inputs.
	⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Financial Statements.

Schedule of Investments (unaudited)

SMALL CAP VALUE FUND May 31, 2024

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.25%

COMMON STOCKS 99.25%

Aerospace & Defense 3.29%
Curtiss-Wright Corp.		16,429	$	4,646,450
Leonardo DRS, Inc.*		365,419		8,605,617
Total				13,252,067

Air Freight & Logistics 1.26%
Radiant Logistics, Inc.*		952,020		5,083,787

Automobile Components 2.81%
Dorman Products, Inc.*		50,428		4,637,863
Gentherm, Inc.*		123,912		6,683,813
Total				11,321,676

Banks 13.50%
Axos Financial, Inc.*		114,656		6,176,519
Bancorp, Inc.*		180,408		6,059,905
Bank of Hawaii Corp.		68,452		3,952,418
First BanCorp		370,227		6,564,124
First Foundation, Inc.		503,739		2,982,129
Heritage Financial Corp.		326,492		5,919,300
Prosperity Bancshares, Inc.		79,037		4,924,005
Seacoast Banking Corp. of Florida		267,818		6,339,252
Wintrust Financial Corp.		58,734		5,791,760
WSFS Financial Corp.		129,348		5,699,073
Total				54,408,485

Capital Markets 4.01%
Bridge Investment Group Holdings, Inc. Class A		620,238		4,800,642
CI Financial Corp.^(a)		417,635		4,482,923
Moelis & Co. Class A		121,303		6,866,963
Total				16,150,528

Chemicals 6.21%
Avient Corp.		177,332		7,923,194
Element Solutions, Inc.		234,949		5,645,825
HB Fuller Co.		75,022		5,974,002
Quaker Chemical Corp.		30,107		5,459,904
Total				25,002,925

Investments	Shares		Fair Value
Commercial Services & Supplies 3.00%
Brady Corp. Class A		127,708	$	8,718,625
Vestis Corp.		274,651		3,383,701
Total				12,102,326

Electric: Utilities 1.24%
Portland General Electric Co.		111,734		4,978,867

Electronic Equipment, Instruments & Components 8.19%
Advanced Energy Industries, Inc.		77,983		8,377,714
Belden, Inc.		98,819		9,455,990
Crane NXT Co.		108,693		6,871,571
Mirion Technologies, Inc.*		763,835		8,295,248
Total				33,000,523

Energy Equipment & Services 1.71%
Liberty Energy, Inc.		279,695		6,905,670

Financial Services 3.34%
Compass Diversified Holdings		331,752		7,550,675
International Money Express, Inc.*		283,130		5,906,092
Total				13,456,767

Health Care Equipment & Supplies 2.56%
Integer Holdings Corp.*		49,059		5,947,913
Integra LifeSciences Holdings Corp.*		141,672		4,377,665
Total				10,325,578

Health Care Providers & Services 3.85%
Addus HomeCare Corp.*		58,360		6,700,312
AMN Healthcare Services, Inc.*		81,634		4,566,606
Tenet Healthcare Corp.*		31,324		4,235,631
Total				15,502,549

Household Durables 1.63%
Taylor Morrison Home
Corp.*		113,269		6,550,346

8	See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SMALL CAP VALUE FUND May 31, 2024

Investments	Shares		Fair Value
Industrial REITS 1.37%
STAG Industrial, Inc.		157,246	$	5,513,045

Information Technology Services 1.00%
Perficient, Inc.*		54,339		4,029,237

Insurance 4.64%
Bowhead Specialty Holdings, Inc.*		120,250		3,222,700
Kemper Corp.		147,489		8,825,742
White Mountains Insurance Group Ltd.		3,690		6,667,830
Total				18,716,272

Interactive Media & Services 1.84%
Cars.com, Inc.*		366,778		7,419,919

Leisure Products 2.90%
Malibu Boats, Inc. Class A*		166,651		6,409,397
YETI Holdings, Inc.*		129,804		5,288,215
Total				11,697,612

Machinery 4.17%
Columbus McKinnon Corp.		168,437		6,585,887
Crane Co.		40,842		6,088,725
Miller Industries, Inc.		67,578		4,108,742
Total				16,783,354

Media 2.15%
Criteo SA ADR*		222,266		8,672,819

Oil, Gas & Consumable Fuels 8.08%
Chesapeake Energy Corp.^(b)		61,792		5,618,747
MEG Energy Corp.*^(a)		292,691		6,354,398
Northern Oil & Gas, Inc.		193,326		7,912,833
Permian Resources Corp.		772,234		12,656,915
Total				32,542,893

Personal Care Products 0.97%
BellRing Brands, Inc.*		67,167		3,907,104

Investments	Shares		Fair Value
Professional Services 3.46%
ICF International, Inc.		32,957	$	4,704,612
TrueBlue, Inc.*		248,867		2,687,764
WNS Holdings Ltd. (India)*^(c)		130,335		6,544,120
Total				13,936,496

Real Estate Management & Development 1.40%
Marcus & Millichap, Inc.		173,990		5,625,097

Semiconductors & Semiconductor Equipment 1.73%
Silicon Motion Technology Corp. ADR		89,195		6,965,238

Software 2.42%
CommVault Systems, Inc.*		90,661		9,753,764

Specialty Retail 2.51%
Academy Sports & Outdoors, Inc.		112,915		6,514,066
Valvoline, Inc.*		88,980		3,612,588
Total				10,126,654

Tobacco 1.55%
Turning Point Brands, Inc.		189,832		6,228,388

Trading Companies & Distributors 2.46%
BlueLinx Holdings, Inc.*		48,304		4,969,999
GMS, Inc.*		52,769		4,958,175
Total				9,928,174
Total Common Stocks (cost $348,287,510)				399,888,160

See Notes to Financial Statements.

Schedule of Investments (unaudited)(continued)

SMALL CAP VALUE FUND May 31, 2024

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 2.30%

Repurchase Agreements 0.90%
Repurchase Agreement dated 5/31/2024, 2.800% due 6/3/2024 with Fixed Income Clearing Corp. collateralized by $4,024,900 of U.S. Treasury Note at 0.750% due 5/31/2026; value: $3,707,793; proceeds: $3,635,917 (cost $3,635,069)	$	3,635,069	$	3,635,069

Investments	Shares		Fair Value
Money Market Funds 1.26%
Fidelity Government Portfolio^(d) (cost $5,051,443)		5,051,443	$	5,051,443

Time Deposits 0.14%
CitiBank N.A.^(d) (cost $561,271)		561,271		561,271
Total Short-Term Investments (cost $9,247,783)				9,247,783
Total Investments in Securities 101.55% (cost $357,535,293)				409,135,943
Other Assets and Liabilities – Net (1.55)%				(6,230,270	)
Net Assets 100.00%			$	402,905,673


ADR		American Depositary Receipt.
REITS		Real Estate Investment Trusts.
*		Non-income producing security.
^(a)		Investment in non-U.S. dollar denominated securities.
^(b)		All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.
^(c)		Foreign security traded in U.S. dollars.
^(d)		Security was purchased with the cash collateral from loaned securities.

10	See Notes to Financial Statements.

Schedule of Investments (unaudited)(concluded)

SMALL CAP VALUE FUND May 31, 2024

The following is a summary of the inputs used as of May 31, 2024 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	399,888,160	$	–	$	–	$	399,888,160
Short-Term Investments
Repurchase Agreements		–		3,635,069		–		3,635,069
Money Market Funds		5,051,443		–		–		5,051,443
Time Deposits		–		561,271		–		561,271
Total	$	404,939,603	$	4,196,340	$	–	$	409,135,943

	⁽¹⁾		Refer to Note 2(i) for a description of fair value measurements and the three-tier hierarchy of inputs.
	⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Financial Statements.

Statements of Assets and Liabilities (unaudited)

May 31, 2024

	Dividend Growth Fund		Growth Opportunities Fund		Small Cap Value Fund
ASSETS:
Investments in securities, at cost	$	2,564,462,314	$	331,969,654	$	357,535,293
Investments in securities, at fair value including $0, $0 and $5,562,552, respectively, of securities loaned	$	3,846,762,346	$	448,743,962	$	409,135,943
Cash		14		143		–
Receivables:
Interest and dividends		5,303,324		20,709		364,655
Capital shares sold		2,020,038		279,535		54,632
From advisor (See Note 3)		5,312		65,795		–
Investment securities sold		–		14,531,391		–
Securities lending income receivable		–		288		1,756
Prepaid expenses and other assets		92,793		67,105		73,446
Total assets		3,854,183,827		463,708,928		409,630,432
LIABILITIES:
Payables:
Management fee		1,678,645		255,980		252,007
Capital shares reacquired		1,550,145		192,330		454,470
12b-1 distribution plan		615,649		89,721		68,936
Directors’ fees		285,745		85,565		191,755
Fund administration		128,735		15,753		13,440
Investment securities purchased		–		8,018,507		–
Collateral due to broker for securities lending		–		–		5,612,714
Accrued expenses		459,941		133,148		131,437
Total liabilities		4,718,860		8,791,004		6,724,759
NET ASSETS	$	3,849,464,967	$	454,917,924	$	402,905,673
COMPOSITION OF NET ASSETS:
Paid-in capital	$	2,510,003,066	$	393,368,884	$	310,820,826
Total distributable earnings (loss)		1,339,461,901		61,549,040		92,084,847
Net Assets	$	3,849,464,967	$	454,917,924	$	402,905,673

See Notes to Financial Statements.

Statements of Assets and Liabilities (unaudited)(concluded)

May 31, 2024

	Dividend Growth Fund		Growth Opportunities Fund		Small Cap Value Fund
Net Assets by class:
Class A Shares	$	2,477,172,815	$	337,583,507	$	193,042,994
Class C Shares	$	140,564,186	$	6,967,688	$	3,205,683
Class F Shares	$	63,487,583	$	4,056,635	$	2,697,879
Class F3 Shares	$	327,561,281	$	56,935,439	$	30,696,367
Class I Shares	$	797,507,591	$	24,847,403	$	150,818,535
Class P Shares	$	951,114	$	2,763,605	$	10,530,013
Class R2 Shares	$	1,475,856	$	649,165	$	789,994
Class R3 Shares	$	14,641,198	$	9,964,375	$	3,138,732
Class R4 Shares	$	7,098,503	$	1,806,630	$	488,838
Class R5 Shares	$	363,166	$	11,572	$	323,508
Class R6 Shares	$	18,641,674	$	9,331,905	$	7,173,130
Outstanding shares by class:
Class A Shares (538.13, 198 and 378 million shares of common stock authorized, $.001 par value)		115,215,464		15,797,580		12,197,702
Class C Shares (40, 40 and 30 million shares of common stock authorized, $.001 par value)		6,656,282		573,173		966,070
Class F Shares (144.38, 66 and 63 million shares of common stock authorized, $.001 par value)		2,929,697		176,889		168,010
Class F3 Shares (88.13, 66 and 63 million shares of common stock authorized, $.001 par value)		14,910,450		2,136,424		1,433,477
Class I Shares (144.38, 66 and 315 million shares of common stock authorized, $.001 par value)		36,593,947		943,536		7,123,868
Class P Shares (20, 20 and 50 million shares of common stock authorized, $.001 par value)		43,892		136,546		734,012
Class R2 Shares (30, 30 and 30 million shares of common stock authorized, $.001 par value)		67,716		33,701		56,533
Class R3 Shares (30, 43.5 and 82.75 million shares of common stock authorized, $.001 par value)		685,639		497,302		217,486
Class R4 Shares (30, 43.5 and 82.75 million shares of common stock authorized, $.001 par value)		330,555		84,537		30,800
Class R5 Shares (30, 43.5 and 82.75 million shares of common stock authorized, $.001 par value)		16,671		439		15,255
Class R6 Shares (30, 43.5 and 82.75 million shares of common stock authorized, $.001 par value)		848,835		350,263		335,114
Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):
Class A Shares-Net asset value		$21.50		$21.37		$15.83
Class A Shares-Maximum offering price (Net asset value plus sales charge of 5.75%)		$22.81		$22.67		$16.80
Class C Shares-Net asset value		$21.12		$12.16		$3.32
Class F Shares-Net asset value		$21.67		$22.93		$16.06
Class F3 Shares-Net asset value		$21.97		$26.65		$21.41
Class I Shares-Net asset value		$21.79		$26.33		$21.17
Class P Shares-Net asset value		$21.67		$20.24		$14.35
Class R2 Shares-Net asset value		$21.79		$19.26		$13.97
Class R3 Shares-Net asset value		$21.35		$20.04		$14.43
Class R4 Shares-Net asset value		$21.47		$21.37		$15.87
Class R5 Shares-Net asset value*		$21.78		$26.37		$21.21
Class R6 Shares-Net asset value		$21.96		$26.64		$21.41

*	Net asset value may not recalculate due to rounding of fractional shares.

See Notes to Financial Statements.

Statements of Operations (unaudited)

For the Six Months Ended May 31, 2024

	Dividend Growth Fund			Growth Opportunities Fund			Small Cap Value Fund
Investment income:
Dividends (net of foreign withholding taxes of $6,642, $0 and $30,683, respectively)	$	29,785,488		$	408,348		$	2,569,286
Securities lending net income		4,401			26,959			2,240
Interest and other		463,609			134,108			65,164
Interest earned from Interfund Lending (See Note 9)		2,393			–			–
Total investment income		30,255,891			569,415			2,636,690
Expenses:
Management fee		9,849,575			1,474,347			1,480,433
12b-1 distribution plan–Class A		2,972,007			421,811			237,060
12b-1 distribution plan–Class C		704,196			39,674			18,331
12b-1 distribution plan–Class F		31,357			2,048			1,374
12b-1 distribution plan–Class P		2,080			6,425			23,979
12b-1 distribution plan–Class R2		4,226			1,803			1,849
12b-1 distribution plan–Class R3		36,042			25,063			7,603
12b-1 distribution plan–Class R4		8,706			2,329			560
Shareholder servicing		1,069,285			235,022			158,607
Fund administration		755,067			90,729			78,956
Registration		103,001			83,622			82,025
Reports to shareholders		94,379			26,310			14,118
Directors’ fees		63,392			7,393			6,823
Professional		44,707			25,734			23,337
Custody		20,266			4,312			4,275
Other		76,295			36,964			32,610
Gross expenses		15,834,581			2,483,586			2,171,940
Fees waived and expenses reimbursed (See Note 3)		(51,623	)		(399,149	)		(4,275	)
Net expenses		15,782,958			2,084,437			2,167,665
Net investment income (loss)		14,472,933			(1,515,022	)		469,025
Net realized and unrealized gain (loss):
Net realized gain (loss) on investments		69,676,312			36,380,499			43,017,658
Net realized gain (loss) on foreign currency related transactions		(1,630	)		–			(1,555	)
Net change in unrealized appreciation/depreciation on investments		445,362,363			29,385,683			15,170,550
Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies		(5,172	)		(28	)		–
Net realized and unrealized gain (loss)		515,031,873			65,766,154			58,186,653
Net Increase in Net Assets Resulting From Operations	$	529,504,806			$64,251,132		$	58,655,678

See Notes to Financial Statements.

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Statements of Changes in Net Assets

	Dividend Growth Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2024 (unaudited)				For the Year Ended November 30, 2023
Operations:
Net investment income (loss)		$	14,472,933			$	31,235,317
Net realized gain (loss) on investments, future contracts and foreign currency related transactions			69,674,682				33,495,306
Net change in unrealized appreciation/depreciation on investments, futures contracts, and translation of assets and liabilities denominated in foreign currencies			445,357,191				192,892,751
Net increase (decrease) in net assets resulting from operations			529,504,806				257,623,374
Distributions to Shareholders
Class A			(22,872,410	)			(115,891,096	)
Class C			(890,764	)			(7,327,812	)
Class F			(657,869	)			(9,201,697	)
Class F3			(3,307,497	)			(15,991,836	)
Class I			(9,301,906	)			(44,519,339	)
Class P			(7,868	)			(45,894	)
Class R2			(10,871	)			(58,895	)
Class R3			(123,490	)			(560,244	)
Class R4			(68,579	)			(227,844	)
Class R5			(3,390	)			(13,874	)
Class R6			(178,179	)			(886,856	)
Total distribution to shareholders			(37,422,823	)			(194,725,387	)
Capital share transactions (See Note 13):
Net proceeds from sales of shares			196,566,841				484,252,301
Reinvestment of distributions			35,778,633				186,549,086
Cost of shares reacquired			(505,280,454	)			(802,698,819	)
Net decrease in net assets resulting from capital share transactions			(272,934,980	)			(131,897,432	)
Net increase (decrease) in net assets			219,147,003				(68,999,445	)
NET ASSETS:
Beginning of period		$	3,630,317,964			$	3,699,317,409
End of period		$	3,849,464,967			$	3,630,317,964

See Notes to Financial Statements.

Growth Opportunities Fund						Small Cap Value Fund
For the Six Months Ended May 31, 2024 (unaudited)			For the Year Ended November 30, 2023			For the Six Months Ended May 31, 2024 (unaudited)			For the Year Ended November 30, 2023

$	(1,515,022	)	$	(2,528,428	)	$	469,025		$	1,548,462

	36,380,499			(18,405,462	)		43,016,103			(1,866,545	)

	29,385,655			8,080,506			15,170,550			17,551,836

	64,251,132			(12,853,384	)		58,655,678			17,233,753

	–			–			(233,061	)		(6,623,856	)
	–			–			(27,671	)		(716,290	)
	–			–			(7,213	)		(198,561	)
	–			–			(83,678	)		(788,836	)
	–			–			(395,798	)		(4,430,653	)
	–			–			–			(444,303	)
	–			–			–			(19,262	)
	–			–			–			(94,985	)
	–			–			(559	)		(15,935	)
	–			–			(827	)		(8,029	)
	–			–			(15,659	)		(167,000	)
	–			–			(764,466	)		(13,507,710	)

	31,475,561			87,450,199			13,259,990			32,915,003
	–			–			736,504			12,991,119
	(58,512,444	)		(133,294,147	)		(40,446,374	)		(86,954,732	)

	(27,036,883	)		(45,843,948	)		(26,449,880	)		(41,048,610	)
	37,214,249			(58,697,332	)		31,441,332			(37,322,567	)

$	417,703,675		$	476,401,007		$	371,464,341		$	408,786,908
$	454,917,924		$	417,703,675		$	402,905,673		$	371,464,341

See Notes to Financial Statements.

Financial Highlights

DIVIDEND GROWTH FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)^(a)			Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2024^(c)	$	18.85	$	0.07		$	2.78		$	2.85		$	(0.09	)	$	(0.11	)	$	(0.20	)
11/30/2023		18.54		0.15			1.14			1.29			(0.15	)		(0.83	)		(0.98	)
11/30/2022		21.23		0.17			(1.20	)		(1.03	)		(0.18	)		(1.48	)		(1.66	)
11/30/2021		17.82		0.16			3.83			3.99			(0.15	)		(0.43	)		(0.58	)
11/30/2020		16.38		0.17			2.17			2.34			(0.20	)		(0.70	)		(0.90	)
11/30/2019		15.75		0.25			1.64			1.89			(0.23	)		(1.03	)		(1.26	)
Class C
5/31/2024^(c)		18.52		–	^(f)		2.72			2.72			(0.01	)		(0.11	)		(0.12	)
11/30/2023		18.23		0.01			1.12			1.13			(0.01	)		(0.83	)		(0.84	)
11/30/2022		20.90		0.03			(1.17	)		(1.14	)		(0.05	)		(1.48	)		(1.53	)
11/30/2021		17.55		0.01			3.78			3.79			(0.01	)		(0.43	)		(0.44	)
11/30/2020		16.14		0.06			2.13			2.19			(0.08	)		(0.70	)		(0.78	)
11/30/2019		15.54		0.13			1.62			1.75			(0.12	)		(1.03	)		(1.15	)
Class F
5/31/2024^(c)		18.99		0.10			2.79			2.89			(0.10	)		(0.11	)		(0.21	)
11/30/2023		18.65		0.18			1.16			1.34			(0.17	)		(0.83	)		(1.00	)
11/30/2022		21.32		0.22			(1.20	)		(0.98	)		(0.21	)		(1.48	)		(1.69	)
11/30/2021		17.87		0.21			3.84			4.05			(0.17	)		(0.43	)		(0.60	)
11/30/2020		16.41		0.21			2.18			2.39			(0.23	)		(0.70	)		(0.93	)
11/30/2019		15.77		0.29			1.63			1.92			(0.25	)		(1.03	)		(1.28	)
Class F3
5/31/2024^(c)		19.25		0.11			2.83			2.94			(0.11	)		(0.11	)		(0.22	)
11/30/2023		18.91		0.20			1.16			1.36			(0.19	)		(0.83	)		(1.02	)
11/30/2022		21.60		0.24			(1.22	)		(0.98	)		(0.23	)		(1.48	)		(1.71	)
11/30/2021		18.11		0.23			3.89			4.12			(0.20	)		(0.43	)		(0.63	)
11/30/2020		16.62		0.23			2.20			2.43			(0.24	)		(0.70	)		(0.94	)
11/30/2019		15.96		0.30			1.66			1.96			(0.27	)		(1.03	)		(1.30	)
Class I
5/31/2024^(c)		19.10		0.10			2.81			2.91			(0.11	)		(0.11	)		(0.22	)
11/30/2023		18.78		0.19			1.15			1.34			(0.19	)		(0.83	)		(1.02	)
11/30/2022		21.48		0.25			(1.24	)		(0.99	)		(0.23	)		(1.48	)		(1.71	)
11/30/2021		18.02		0.22			3.86			4.08			(0.19	)		(0.43	)		(0.62	)
11/30/2020		16.55		0.21			2.20			2.41			(0.24	)		(0.70	)		(0.94	)
11/30/2019		15.91		0.29			1.65			1.94			(0.27	)		(1.03	)		(1.30	)
Class P
5/31/2024^(c)		19.00		0.05			2.80			2.85			(0.07	)		(0.11	)		(0.18	)
11/30/2023		18.68		0.11			1.15			1.26			(0.11	)		(0.83	)		(0.94	)
11/30/2022		21.37		0.14			(1.20	)		(1.06	)		(0.15	)		(1.48	)		(1.63	)
11/30/2021		17.93		0.12			3.86			3.98			(0.11	)		(0.43	)		(0.54	)
11/30/2020		16.48		0.14			2.18			2.32			(0.17	)		(0.70	)		(0.87	)
11/30/2019		15.83		0.22			1.65			1.87			(0.19	)		(1.03	)		(1.22	)

18	See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:

Net asset value, end of period		Total return^(b) (%)			Total expenses after waivers and/or reimbursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)

	$21.50		15.19	^(d)		0.89	^(e)		0.89	^(e)		0.71	^(e)	$	2,477,173		13	^(d)
	18.85		7.58			0.90			0.90			0.82			2,215,523		35
	18.54		(5.30	)		0.92			0.92			0.95			2,213,259		47
	21.23		22.95			0.91			0.91			0.82			2,368,031		39
	17.82		15.10			0.95			0.95			1.10			1,925,498		59
	16.38		13.59			0.95			0.95			1.62			1,731,882		51

	21.12		14.77	^(d)		1.64	^(e)		1.64	^(e)		(0.04	)^(e)		140,564		13	^(d)
	18.52		6.77			1.65			1.65			0.06			135,085		35
	18.23		(6.00	)		1.67			1.67			0.19			158,789		47
	20.90		22.07			1.66			1.66			0.07			193,493		39
	17.55		14.21			1.70			1.70			0.37			176,775		59
	16.14		12.72			1.70			1.70			0.87			216,647		51

	21.67		15.31	^(d)		0.64	^(e)		0.74	^(e)		0.96	^(e)		63,488		13	^(d)
	18.99		7.84			0.65			0.75			0.99			60,941		35
	18.65		(5.05	)		0.67			0.77			1.16			184,824		47
	21.32		23.29			0.66			0.76			1.07			467,768		39
	17.87		15.38			0.70			0.80			1.35			330,470		59
	16.41		13.81			0.70			0.80			1.87			296,993		51

	21.97		15.37	^(d)		0.58	^(e)		0.58	^(e)		1.02	^(e)		327,561		13	^(d)
	19.25		7.86			0.59			0.59			1.12			291,252		35
	18.91		(4.95	)		0.60			0.60			1.26			295,542		47
	21.60		23.34			0.60			0.60			1.14			314,607		39
	18.11		15.50			0.62			0.62			1.43			240,767		59
	16.62		13.90			0.63			0.63			1.95			205,183		51

	21.79		15.33	^(d)		0.64	^(e)		0.64	^(e)		0.96	^(e)		797,508		13	^(d)
	19.10		7.80			0.65			0.65			1.07			889,207		35
	18.78		(5.04	)		0.67			0.67			1.39			812,893		47
	21.48		23.27			0.66			0.66			1.08			70,953		39
	18.02		15.42			0.70			0.70			1.35			44,354		59
	16.55		13.87			0.70			0.70			1.87			42,809		51

	21.67		15.06	^(d)		1.09	^(e)		1.09	^(e)		0.51	^(e)		951		13	^(d)
	19.00		7.36			1.10			1.10			0.61			850		35
	18.68		(5.46	)		1.12			1.12			0.74			913		47
	21.37		22.72			1.12			1.12			0.61			1,074		39
	17.93		14.83			1.15			1.15			0.90			1,092		59
	16.48		13.36			1.15			1.15			1.42			1,137		51

See Notes to Financial Statements.

Financial Highlights (concluded)

DIVIDEND GROWTH FUND

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)^(a)		Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R2
5/31/2024^(c)	$	19.11	$	0.04	$	2.80		$	2.84		$	(0.05	)	$	(0.11	)	$	(0.16	)
11/30/2023		18.78		0.08		1.16			1.24			(0.08	)		(0.83	)		(0.91	)
11/30/2022		21.48		0.11		(1.22	)		(1.11	)		(0.11	)		(1.48	)		(1.59	)
11/30/2021		18.02		0.10		3.87			3.97			(0.08	)		(0.43	)		(0.51	)
11/30/2020		16.55		0.12		2.19			2.31			(0.14	)		(0.70	)		(0.84	)
11/30/2019		15.90		0.19		1.67			1.86			(0.18	)		(1.03	)		(1.21	)
Class R3
5/31/2024^(c)		18.72		0.05		2.75			2.80			(0.06	)		(0.11	)		(0.17	)
11/30/2023		18.43		0.10		1.13			1.23			(0.11	)		(0.83	)		(0.94	)
11/30/2022		21.11		0.13		(1.19	)		(1.06	)		(0.14	)		(1.48	)		(1.62	)
11/30/2021		17.72		0.11		3.81			3.92			(0.10	)		(0.43	)		(0.53	)
11/30/2020		16.29		0.13		2.16			2.29			(0.16	)		(0.70	)		(0.86	)
11/30/2019		15.67		0.21		1.63			1.84			(0.19	)		(1.03	)		(1.22	)
Class R4
5/31/2024^(c)		18.83		0.07		2.77			2.84			(0.09	)		(0.11	)		(0.20	)
11/30/2023		18.53		0.15		1.13			1.28			(0.15	)		(0.83	)		(0.98	)
11/30/2022		21.21		0.17		(1.18	)		(1.01	)		(0.19	)		(1.48	)		(1.67	)
11/30/2021		17.80		0.16		3.82			3.98			(0.14	)		(0.43	)		(0.57	)
11/30/2020		16.36		0.18		2.16			2.34			(0.20	)		(0.70	)		(0.90	)
11/30/2019		15.74		0.25		1.63			1.88			(0.23	)		(1.03	)		(1.26	)
Class R5
5/31/2024^(c)		19.10		0.10		2.80			2.90			(0.11	)		(0.11	)		(0.22	)
11/30/2023		18.77		0.19		1.16			1.35			(0.19	)		(0.83	)		(1.02	)
11/30/2022		21.47		0.21		(1.20	)		(0.99	)		(0.23	)		(1.48	)		(1.71	)
11/30/2021		18.01		0.22		3.86			4.08			(0.19	)		(0.43	)		(0.62	)
11/30/2020		16.55		0.21		2.19			2.40			(0.24	)		(0.70	)		(0.94	)
11/30/2019		15.90		0.29		1.66			1.95			(0.27	)		(1.03	)		(1.30	)
Class R6
5/31/2024^(c)		19.24		0.11		2.83			2.94			(0.11	)		(0.11	)		(0.22	)
11/30/2023		18.90		0.20		1.16			1.36			(0.19	)		(0.83	)		(1.02	)
11/30/2022		21.59		0.23		(1.21	)		(0.98	)		(0.23	)		(1.48	)		(1.71	)
11/30/2021		18.11		0.22		3.89			4.11			(0.20	)		(0.43	)		(0.63	)
11/30/2020		16.62		0.23		2.20			2.43			(0.24	)		(0.70	)		(0.94	)
11/30/2019		15.96		0.30		1.66			1.96			(0.27	)		(1.03	)		(1.30	)

^(a)	Calculated using average shares outstanding during the period.
^(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
^(c)	Unaudited.
^(d)	Not annualized.
^(e)	Annualized.
^(f)	Amount less than $0.01.

20	See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:

Net asset value, end of period		Total return^(b) (%)			Total expenses after waivers and/or reimbursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)

$	21.79		14.95	^(d)		1.24	^(e)		1.24	^(e)		0.36	^(e)	$	1,476		13	^(d)
	19.11		7.21			1.25			1.25			0.47			1,282		35
	18.78		(5.64	)		1.27			1.27			0.60			1,207		47
	21.48		22.56			1.26			1.26			0.49			1,427		39
	18.02		14.67			1.30			1.30			0.76			951		59
	16.55		13.16			1.30			1.30			1.26			1,045		51

	21.35		14.99	^(d)		1.14	^(e)		1.14	^(e)		0.46	^(e)		14,641		13	^(d)
	18.72		7.32			1.15			1.15			0.58			13,539		35
	18.43		(5.53	)		1.17			1.17			0.69			10,852		47
	21.11		22.66			1.16			1.16			0.56			13,953		39
	17.72		14.81			1.20			1.20			0.86			13,802		59
	16.29		13.31			1.20			1.20			1.37			16,221		51

	21.47		15.15	^(d)		0.89	^(e)		0.89	^(e)		0.71	^(e)		7,099		13	^(d)
	18.83		7.55			0.90			0.90			0.82			6,633		35
	18.53		(5.30	)		0.92			0.92			0.94			4,194		47
	21.21		22.96			0.91			0.91			0.80			4,441		39
	17.80		15.10			0.95			0.95			1.12			4,144		59
	16.36		13.54			0.95			0.95			1.62			5,504		51

	21.78		15.28	^(d)		0.64	^(e)		0.64	^(e)		0.96	^(e)		363		13	^(d)
	19.10		7.86			0.65			0.65			1.07			257		35
	18.77		(5.09	)		0.67			0.67			1.14			291		47
	21.47		23.28			0.66			0.66			1.09			620		39
	18.01		15.36			0.70			0.70			1.34			395		59
	16.55		13.87			0.70			0.70			1.89			272		51

	21.96		15.37	^(d)		0.58	^(e)		0.58	^(e)		1.02	^(e)		18,642		13	^(d)
	19.24		7.87			0.59			0.59			1.12			15,748		35
	18.90		(5.00	)		0.60			0.60			1.26			16,552		47
	21.59		23.34			0.60			0.60			1.13			18,992		39
	18.11		15.50			0.62			0.62			1.43			16,977		59
	16.62		13.97			0.63			0.63			1.95			13,012		51

See Notes to Financial Statements.

Financial Highlights

GROWTH OPPORTUNITIES FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period		Net investment income (loss)^(a)			Net realized and unrealized gain (loss)			Total from investment operations			Net realized gain			Net asset value, end of period
Class A
5/31/2024^(c)	$	18.47	$	(0.07	)	$	2.97		$	2.90		$	–		$	21.37
11/30/2023		18.95		(0.11	)		(0.37	)		(0.48	)		–			18.47
11/30/2022		31.15		(0.08	)		(7.20	)		(7.28	)		(4.92	)		18.95
11/30/2021		32.07		(0.22	)		3.82			3.60			(4.52	)		31.15
11/30/2020		24.97		(0.11	)		8.56			8.45			(1.35	)		32.07
11/30/2019		21.46		(0.09	)		4.74			4.65			(1.14	)		24.97
Class C
5/31/2024^(c)		10.55		(0.09	)		1.70			1.61			–			12.16
11/30/2023		10.91		(0.14	)		(0.22	)		(0.36	)		–			10.55
11/30/2022		20.21		(0.14	)		(4.24	)		(4.38	)		(4.92	)		10.91
11/30/2021		22.45		(0.30	)		2.58			2.28			(4.52	)		20.21
11/30/2020		18.01		(0.20	)		5.99			5.79			(1.35	)		22.45
11/30/2019		15.93		(0.19	)		3.41			3.22			(1.14	)		18.01
Class F
5/31/2024^(c)		19.81		(0.06	)		3.18			3.12			–			22.93
11/30/2023		20.30		(0.10	)		(0.39	)		(0.49	)		–			19.81
11/30/2022		32.95		(0.06	)		(7.67	)		(7.73	)		(4.92	)		20.30
11/30/2021		33.64		(0.18	)		4.01			3.83			(4.52	)		32.95
11/30/2020		26.09		(0.08	)		8.98			8.90			(1.35	)		33.64
11/30/2019		22.33		(0.06	)		4.96			4.90			(1.14	)		26.09
Class F3
5/31/2024^(c)		23.00		(0.05	)		3.70			3.65			–			26.65
11/30/2023		23.52		(0.06	)		(0.46	)		(0.52	)		–			23.00
11/30/2022		37.32		(0.02	)		(8.86	)		(8.88	)		(4.92	)		23.52
11/30/2021		37.47		(0.14	)		4.51			4.37			(4.52	)		37.32
11/30/2020		28.86		(0.05	)		10.01			9.96			(1.35	)		37.47
11/30/2019		24.53		(0.02	)		5.49			5.47			(1.14	)		28.86
Class I
5/31/2024^(c)		22.73		(0.06	)		3.66			3.60			–			26.33
11/30/2023		23.27		(0.08	)		(0.46	)		(0.54	)		–			22.73
11/30/2022		37.00		(0.02	)		(8.79	)		(8.81	)		(4.92	)		23.27
11/30/2021		37.21		(0.17	)		4.48			4.31			(4.52	)		37.00
11/30/2020		28.69		(0.02	)		9.89			9.87			(1.35	)		37.21
11/30/2019		24.41		(0.04	)		5.46			5.42			(1.14	)		28.69
Class P
5/31/2024^(c)		17.51		(0.09	)		2.82			2.73			–			20.24
11/30/2023		18.01		(0.14	)		(0.36	)		(0.50	)		–			17.51
11/30/2022		29.90		(0.12	)		(6.85	)		(6.97	)		(4.92	)		18.01
11/30/2021		31.01		(0.27	)		3.68			3.41			(4.52	)		29.90
11/30/2020		24.24		(0.15	)		8.27			8.12			(1.35	)		31.01
11/30/2019		20.90		(0.13	)		4.61			4.48			(1.14	)		24.24
Class R2
5/31/2024^(c)		16.68		(0.10	)		2.68			2.58			–			19.26
11/30/2023		17.18		(0.16	)		(0.34	)		(0.50	)		–			16.68
11/30/2022		28.79		(0.14	)		(6.55	)		(6.69	)		(4.92	)		17.18
11/30/2021		30.06		(0.31	)		3.56			3.25			(4.52	)		28.79
11/30/2020		23.57		(0.18	)		8.02			7.84			(1.35	)		30.06
11/30/2019		20.39		(0.16	)		4.48			4.32			(1.14	)		23.57

22	See Notes to Financial Statements.

			Ratios to Average Net Assets:									Supplemental Data:
Total return^(b) (%)			Total expenses after waivers and/or reimbursements (%)			Total expenses (%)			Net investment income (loss) (%)			Net assets, end of period (000)			Portfolio turnover rate (%)

	15.64	^(d)		0.96	^(e)		1.14	^(e)		(0.71	)^(e)	$	337,584			58	^(d)
	(2.48	)		0.96			1.16			(0.61	)		307,288			149
	(27.23	)		1.05			1.19			(0.40	)		356,219			118
	12.09			1.06			1.17			(0.71	)		531,845			68
	35.75			1.10			1.19			(0.42	)		492,772			50
	23.48			1.16			1.16			(0.39	)		385,588			27

	15.26	^(d)		1.71	^(e)		1.89	^(e)		(1.46	)^(e)		6,968			58	^(d)
	(3.30	)		1.71			1.91			(1.38	)		7,907			149
	(27.73	)		1.80			1.94			(1.16	)		15,434			118
	11.24			1.81			1.92			(1.47	)		25,235			68
	34.73			1.85			1.94			(1.15	)		26,782			50
	22.58			1.91			1.91			(1.14	)		26,860			27

	15.74	^(d)		0.81	^(e)		0.99	^(e)		(0.56	)^(e)		4,057			58	^(d)
	(2.36	)		0.81			1.01			(0.51	)		3,825			149
	(27.09	)		0.90			1.04			(0.29	)		16,775			118
	12.22			0.91			1.02			(0.57	)		48,943			68
	35.95			0.94			1.04			(0.28	)		42,530			50
	23.69			1.01			1.01			(0.24	)		23,271			27

	15.82	^(d)		0.63	^(e)		0.78	^(e)		(0.38	)^(e)		56,935			58	^(d)
	(2.17	)		0.63			0.78			(0.28	)		47,318			149
	(26.98	)		0.71			0.85			(0.06	)		48,091			118
	12.44			0.73			0.84			(0.39	)		59,660			68
	36.18			0.77			0.86			(0.15	)		26,711			50
	23.90			0.86			0.86			(0.08	)		7,986			27

	15.78	^(d)		0.71	^(e)		0.89	^(e)		(0.46	)^(e)		24,847			58	^(d)
	(2.23	)		0.71			0.90			(0.34	)		28,362			149
	(27.03	)		0.81			0.94			(0.06	)		14,742	��		118
	12.35			0.81			0.92			(0.48	)		217,472			68
	36.08			0.86			0.94			(0.05	)		193,878			50
	23.81			0.91			0.91			(0.15	)		374,814			27

	15.53	^(d)		1.16	^(e)		1.34	^(e)		(0.91	)^(e)		2,764			58	^(d)
	(2.72	)		1.16			1.36			(0.81	)		2,754			149
	(27.35	)		1.25			1.39			(0.60	)		2,643			118
	11.86			1.26			1.37			(0.92	)		3,657			68
	35.51			1.30			1.39			(0.60	)		3,432			50
	23.23			1.36			1.36			(0.58	)		3,286			27

	15.40	^(d)		1.31	^(e)		1.49	^(e)		(1.06	)^(e)		649			58	^(d)
	(2.85	)		1.31			1.51			(0.97	)		683			149
	(27.44	)		1.40			1.54			(0.77	)		858			118
	11.68			1.41			1.52			(1.07	)		1,257			68
	35.26			1.45			1.54			(0.76	)		987			50
	23.13			1.51			1.51			(0.75	)		748			27

See Notes to Financial Statements.

Financial Highlights (concluded)

GROWTH OPPORTUNITIES FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period		Net investment income (loss)^(a)			Net realized and unrealized gain (loss)			Total from investment operations			Net realized gain			Net asset value, end of period
Class R3
5/31/2024^(c)	$	17.34	$	(0.09	)	$	2.79		$	2.70		$	–		$	20.04
11/30/2023		17.84		(0.15	)		(0.35	)		(0.50	)		–			17.34
11/30/2022		29.68		(0.13	)		(6.79	)		(6.92	)		(4.92	)		17.84
11/30/2021		30.83		(0.28	)		3.65			3.37			(4.52	)		29.68
11/30/2020		24.11		(0.16	)		8.23			8.07			(1.35	)		30.83
11/30/2019		20.81		(0.14	)		4.58			4.44			(1.14	)		24.11
Class R4
5/31/2024^(c)		18.47		(0.07	)		2.97			2.90			–			21.37
11/30/2023		18.96		(0.11	)		(0.38	)		(0.49	)		–			18.47
11/30/2022		31.15		(0.08	)		(7.19	)		(7.27	)		(4.92	)		18.96
11/30/2021		32.07		(0.22	)		3.82			3.60			(4.52	)		31.15
11/30/2020		24.97		(0.11	)		8.56			8.45			(1.35	)		32.07
11/30/2019		21.46		(0.09	)		4.74			4.65			(1.14	)		24.97
Class R5
5/31/2024^(c)		22.76		(0.05	)		3.66			3.61			–			26.37
11/30/2023		23.30		(0.08	)		(0.46	)		(0.54	)		–			22.76
11/30/2022		37.03		(0.06	)		(8.75	)		(8.81	)		(4.92	)		23.30
11/30/2021		37.24		(0.17	)		4.48			4.31			(4.52	)		37.03
11/30/2020		28.71		(0.05	)		9.93			9.88			(1.35	)		37.24
11/30/2019		24.43		(0.04	)		5.46			5.42			(1.14	)		28.71
Class R6
5/31/2024^(c)		22.99		(0.05	)		3.70			3.65			–			26.64
11/30/2023		23.52		(0.06	)		(0.47	)		(0.53	)		–			22.99
11/30/2022		37.31		(0.02	)		(8.85	)		(8.87	)		(4.92	)		23.52
11/30/2021		37.46		(0.15	)		4.52			4.37			(4.52	)		37.31
11/30/2020		28.86		(0.03	)		9.98			9.95			(1.35	)		37.46
11/30/2019		24.53		(0.03	)		5.50			5.47			(1.14	)		28.86

^(a)	Calculated using average shares outstanding during the period.
^(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
^(c)	Unaudited.
^(d)	Not annualized.
^(e)	Annualized.

24	See Notes to Financial Statements.

		Ratios to Average Net Assets:									Supplemental Data:
Total return^(b)(%)		Total expenses after waivers and/or reimbursements (%)			Total expenses (%)			Net investment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)

15.50	^(d)		1.21	^(e)		1.39	^(e)		(0.96	)^(e)	$	9,964		58	^(d)
(2.75	)		1.21			1.41			(0.86	)		9,340		149
(27.39	)		1.30			1.44			(0.65	)		10,319		118
11.79			1.31			1.42			(0.97	)		15,075		68
35.43			1.35			1.44			(0.65	)		16,868		50
23.18			1.41			1.41			(0.64	)		15,908		27

15.64	^(d)		0.96	^(e)		1.14	^(e)		(0.71	)^(e)		1,807		58	^(d)
(2.53	)		0.96			1.16			(0.61	)		1,695		149
(27.19	)		1.04			1.19			(0.40	)		2,038		118
12.08			1.06			1.17			(0.72	)		2,643		68
35.75			1.09			1.19			(0.45	)		1,948		50
23.48			1.16			1.16			(0.40	)		1,022		27

15.85	^(d)		0.71	^(e)		0.87	^(e)		(0.44	)^(e)		12		58	^(d)
(2.27	)		0.71			0.90			(0.37	)		47		149
(27.01	)		0.80			0.94			(0.23	)		65		118
12.34			0.81			0.92			(0.46	)		194		68
36.09			0.85			0.94			(0.16	)		100		50
23.79			0.91			0.91			(0.14	)		89		27

15.87	^(d)		0.63	^(e)		0.78	^(e)		(0.38	)^(e)		9,332		58	^(d)
(2.21	)		0.63			0.78			(0.28	)		8,484		149
(26.96	)		0.71			0.85			(0.07	)		9,216		118
12.44			0.74			0.84			(0.40	)		12,593		68
36.20			0.78			0.86			(0.11	)		11,488		50
23.86			0.86			0.86			(0.11	)		7,181		27

See Notes to Financial Statements.

Financial Highlights

SMALL CAP VALUE FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)^(a)			Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2024^(c)	$	13.64	$	0.01		$	2.20		$	2.21		$	(0.02	)	$	–		$	(0.02	)
11/30/2023		13.57		0.04			0.51			0.55			(0.03	)		(0.45	)		(0.48	)
11/30/2022		17.62		0.04			(1.40	)		(1.36	)		(0.02	)		(2.67	)		(2.69	)
11/30/2021		13.97		0.05			3.76			3.81			(0.16	)		–			(0.16	)
11/30/2020		17.48		0.11			(0.68	)		(0.57	)		(0.05	)		(2.89	)		(2.94	)
11/30/2019		20.46		0.04			0.04			0.08			–			(3.06	)		(3.06	)
Class C
5/31/2024^(c)		2.89		(0.01	)		0.46			0.45			(0.02	)		–			(0.02	)
11/30/2023		3.29		(0.01	)		0.09			0.08			(0.03	)		(0.45	)		(0.48	)
11/30/2022		6.32		(0.02	)		(0.34	)		(0.36	)		–	^(f)		(2.67	)		(2.67	)
11/30/2021		5.12		(0.03	)		1.37			1.34			(0.14	)		–			(0.14	)
11/30/2020		8.23		0.01			(0.22	)		(0.21	)		(0.01	)		(2.89	)		(2.90	)
11/30/2019		11.50		(0.04	)		(0.17	)		(0.21	)		–			(3.06	)		(3.06	)
Class F
5/31/2024^(c)		13.85		0.02			2.23			2.25			(0.04	)		–			(0.04	)
11/30/2023		13.77		0.06			0.51			0.57			(0.04	)		(0.45	)		(0.49	)
11/30/2022		17.83		0.06			(1.41	)		(1.35	)		(0.04	)		(2.67	)		(2.71	)
11/30/2021		14.14		0.05			3.82			3.87			(0.18	)		–			(0.18	)
11/30/2020		17.66		0.13			(0.68	)		(0.55	)		(0.08	)		(2.89	)		(2.97	)
11/30/2019		20.61		0.06			0.05			0.11			–			(3.06	)		(3.06	)
Class F3
5/31/2024^(c)		18.46		0.05			2.96			3.01			(0.06	)		–			(0.06	)
11/30/2023		18.17		0.11			0.70			0.81			(0.07	)		(0.45	)		(0.52	)
11/30/2022		22.66		0.12			(1.87	)		(1.75	)		(0.07	)		(2.67	)		(2.74	)
11/30/2021		17.90		0.13			4.82			4.95			(0.19	)		–			(0.19	)
11/30/2020		21.58		0.19			(0.88	)		(0.69	)		(0.10	)		(2.89	)		(2.99	)
11/30/2019		24.39		0.12			0.13			0.25			–			(3.06	)		(3.06	)
Class I
5/31/2024^(c)		18.25		0.04			2.93			2.97			(0.05	)		–			(0.05	)
11/30/2023		17.98		0.10			0.68			0.78			(0.06	)		(0.45	)		(0.51	)
11/30/2022		22.47		0.08			(1.84	)		(1.76	)		(0.06	)		(2.67	)		(2.73	)
11/30/2021		17.76		0.12			4.78			4.90			(0.19	)		–			(0.19	)
11/30/2020		21.45		0.18			(0.88	)		(0.70	)		(0.10	)		(2.89	)		(2.99	)
11/30/2019		24.28		0.10			0.13			0.23			–			(3.06	)		(3.06	)
Class P
5/31/2024^(c)		12.36		(0.01	)		2.00			1.99			–			–			–
11/30/2023		12.35		0.01			0.46			0.47			(0.01	)		(0.45	)		(0.46	)
11/30/2022		16.28		0.01			(1.27	)		(1.26	)		–	^(f)		(2.67	)		(2.67	)
11/30/2021		12.92		0.01			3.48			3.49			(0.13	)		–			(0.13	)
11/30/2020		16.38		0.08			(0.63	)		(0.55	)		(0.02	)		(2.89	)		(2.91	)
11/30/2019		19.42		0.01			0.01			0.02			–			(3.06	)		(3.06	)

26	See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:

Net asset value, end of period		Total return^(b) (%)			Total expenses after waivers and/or reimbursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)

$	15.83		16.20	^(d)		1.21	^(e)		1.21	^(e)		0.13	^(e)	$	193,043		28	^(d)
	13.64		4.41			1.19			1.19			0.29			178,084		34
	13.57		(9.18	)		1.22			1.23			0.31			191,440		54
	17.62		27.48			1.17			1.17			0.27			235,845		78
	13.97		(4.40	)		1.19			1.19			0.87			200,419		72
	17.48		2.56			1.20			1.20			0.25			267,864		95

	3.32		15.68	^(d)		1.96	^(e)		1.96	^(e)		(0.65	)^(e)		3,206		28	^(d)
	2.89		3.85			1.94			1.94			(0.46	)		3,635		34
	3.29		(10.03	)		1.98			1.99			(0.45	)		4,974		54
	6.32		26.62			1.92			1.92			(0.54	)		7,246		78
	5.12		(5.22	)		1.94			1.94			0.13			5,484		72
	8.23		1.81			1.95			1.95			(0.50	)		9,231		95

	16.06		16.24	^(d)		1.06	^(e)		1.06	^(e)		0.26	^(e)		2,698		28	^(d)
	13.85		4.53			1.05			1.05			0.42			2,732		34
	13.77		(8.99	)		1.08			1.08			0.39			5,667		54
	17.83		27.63			1.02			1.02			0.31			15,604		78
	14.14		(4.24	)		1.04			1.04			1.03			9,219		72
	17.66		2.70			1.05			1.05			0.35			10,522		95

	21.41		16.30	^(d)		0.88	^(e)		0.88	^(e)		0.46	^(e)		30,696		28	^(d)
	18.46		4.75			0.88			0.88			0.60			28,053		34
	18.17		(8.85	)		0.88			0.88			0.67			27,967		54
	22.66		27.89			0.84			0.84			0.60			30,482		78
	17.90		(4.09	)		0.86			0.86			1.18			25,733		72
	21.58		2.88			0.86			0.86			0.59			29,679		95

	21.17		16.31	^(d)		0.96	^(e)		0.96	^(e)		0.38	^(e)		150,819		28	^(d)
	18.25		4.66			0.94			0.94			0.54			138,027		34
	17.98		(8.95	)		0.97			0.97			0.42			157,173		54
	22.47		27.81			0.92			0.92			0.53			372,878		78
	17.76		(4.18	)		0.94			0.94			1.12			332,301		72
	21.45		2.85			0.95			0.95			0.50			411,532		95

	14.35		16.02	^(d)		1.41	^(e)		1.41	^(e)		(0.08	)^(e)		10,530		28	^(d)
	12.36		4.16			1.39			1.39			0.09			11,877		34
	12.35		(9.33	)		1.42			1.43			0.11			12,171		54
	16.28		27.22			1.37			1.37			0.09			14,393		78
	12.92		(4.63	)		1.39			1.39			0.67			14,958		72
	16.38		2.41			1.40			1.40			0.05			20,819		95

See Notes to Financial Statements.

Financial Highlights (concluded)

SMALL CAP VALUE FUND

			Per Share Operating Performance:
			Investment Operations:									Distributions to shareholders from:
	Net asset value, beginning of period		Net invest- ment income (loss)^(a)			Net realized and unrealized gain (loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class R2
5/31/2024^(c)	$	12.05	$	(0.01	)	$	1.93		$	1.92		$	–		$	–		$	–
11/30/2023		12.06		(0.01	)		0.45			0.44			–			(0.45	)		(0.45	)
11/30/2022		15.98		–	^(f)		(1.25	)		(1.25	)		–	^(f)		(2.67	)		(2.67	)
11/30/2021		12.69		(0.01	)		3.41			3.40			(0.11	)		–			(0.11	)
11/30/2020		16.14		0.06			(0.62	)		(0.56	)		–			(2.89	)		(2.89	)
11/30/2019		19.21		(0.01	)		–	^(f)		(0.01	)		–			(3.06	)		(3.06	)
Class R3
5/31/2024^(c)		12.44		(0.01	)		2.00			1.99			–			–			–
11/30/2023		12.42		0.01			0.46			0.47			–			(0.45	)		(0.45	)
11/30/2022		16.37		–	^(f)		(1.28	)		(1.28	)		–	^(f)		(2.67	)		(2.67	)
11/30/2021		12.99		–	^(f)		3.50			3.50			(0.12	)		–			(0.12	)
11/30/2020		16.46		0.07			(0.63	)		(0.56	)		(0.02	)		(2.89	)		(2.91	)
11/30/2019		19.50		–	^(f)		0.02			0.02			–			(3.06	)		(3.06	)
Class R4
5/31/2024^(c)		13.68		0.01			2.20			2.21			(0.02	)		–			(0.02	)
11/30/2023		13.61		0.04			0.50			0.54			(0.02	)		(0.45	)		(0.47	)
11/30/2022		17.66		0.01			(1.37	)		(1.36	)		(0.02	)		(2.67	)		(2.69	)
11/30/2021		14.00		0.05			3.77			3.82			(0.16	)		–			(0.16	)
11/30/2020		17.49		0.11			(0.69	)		(0.58	)		(0.02	)		(2.89	)		(2.91	)
11/30/2019		20.47		0.05			0.03			0.08			–			(3.06	)		(3.06	)
Class R5
5/31/2024^(c)		18.28		0.04			2.94			2.98			(0.05	)		–			(0.05	)
11/30/2023		18.01		0.10			0.68			0.78			(0.06	)		(0.45	)		(0.51	)
11/30/2022		22.50		0.10			(1.86	)		(1.76	)		(0.06	)		(2.67	)		(2.73	)
11/30/2021		17.78		0.07			4.84			4.91			(0.19	)		–			(0.19	)
11/30/2020		21.47		0.18			(0.88	)		(0.70	)		(0.10	)		(2.89	)		(2.99	)
11/30/2019		24.31		0.13			0.09			0.22			–			(3.06	)		(3.06	)
Class R6
5/31/2024^(c)		18.45		0.05			2.97			3.02			(0.06	)		–			(0.06	)
11/30/2023		18.17		0.11			0.69			0.80			(0.07	)		(0.45	)		(0.52	)
11/30/2022		22.65		0.12			(1.86	)		(1.74	)		(0.07	)		(2.67	)		(2.74	)
11/30/2021		17.89		0.13			4.82			4.95			(0.19	)		–			(0.19	)
11/30/2020		21.57		0.18			(0.87	)		(0.69	)		(0.10	)		(2.89	)		(2.99	)
11/30/2019		24.38		0.11			0.14			0.25			–			(3.06	)		(3.06	)

^(a)	Calculated using average shares outstanding during the period.
^(b)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
^(c)	Unaudited.
^(d)	Not annualized.
^(e)	Annualized.
^(f)	Amount less than $0.01.

28	See Notes to Financial Statements.

					Ratios to Average Net Assets:									Supplemental Data:

Net asset value, end of period		Total return^(b)(%)			Total expenses after waivers and/or reimbursements (%)			Total expenses (%)			Net invest- ment income (loss) (%)			Net assets, end of period (000)		Portfolio turnover rate (%)

$	13.97		15.93	^(d)		1.56	^(e)		1.56	^(e)		(0.22	)^(e)	$	790		28	^(d)
	12.05		4.02			1.54			1.54			(0.06	)		520		34
	12.06		(9.46	)		1.58			1.58			(0.02	)		521		54
	15.98		27.00			1.52			1.52			(0.08	)		607		78
	12.69		(4.74	)		1.54			1.54			0.52			441		72
	16.14		2.25			1.55			1.55			(0.09	)		603		95

	14.43		16.00	^(d)		1.46	^(e)		1.46	^(e)		(0.12	)^(e)		3,139		28	^(d)
	12.44		4.15			1.44			1.44			0.05			2,816		34
	12.42		(9.41	)		1.48			1.48			0.03			2,663		54
	16.37		27.18			1.42			1.42			0.02			4,829		78
	12.99		(4.67	)		1.44			1.44			0.62			4,354		72
	16.46		2.33			1.45			1.45			0.01			5,713		95

	15.87		16.16	^(d)		1.21	^(e)		1.21	^(e)		0.14	^(e)		489		28	^(d)
	13.68		4.37			1.19			1.19			0.28			398		34
	13.61		(9.14	)		1.21			1.22			0.07			458		54
	17.66		27.51			1.17			1.17			0.27			1,564		78
	14.00		(4.43	)		1.19			1.19			0.84			1,218		72
	17.49		2.55			1.20			1.20			0.28			2,750		95

	21.21		16.34	^(d)		0.96	^(e)		0.96	^(e)		0.38	^(e)		324		28	^(d)
	18.28		4.66			0.94			0.94			0.54			284		34
	18.01		(8.93	)		0.97			0.98			0.56			283		54
	22.50		27.83			0.92			0.92			0.33			326		78
	17.78		(4.17	)		0.94			0.94			1.15			26		72
	21.47		2.85			0.93			0.93			0.64			55		95

	21.41		16.31	^(d)		0.88	^(e)		0.88	^(e)		0.49	^(e)		7,173		28	^(d)
	18.45		4.70			0.88			0.88			0.60			5,039		34
	18.17		(8.81	)		0.88			0.88			0.64			5,470		54
	22.65		27.91			0.84			0.84			0.60			8,311		78
	17.89		(4.10	)		0.86			0.86			1.18			7,798		72
	21.57		2.89			0.86			0.86			0.54			8,129		95

See Notes to Financial Statements.

Notes to Financial Statements (unaudited)

ORGANIZATION

Lord Abbett Research Fund, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a diversified, open-end management investment company and was incorporated under Maryland law on April 6, 1992. The Company consists of the following three funds (separately, a “Fund” and collectively, the “Funds”) and their respective classes: Lord Abbett Dividend Growth Fund (“Dividend Growth Fund”), Lord Abbett Growth Opportunities Fund (“Growth Opportunities Fund”) and Lord Abbett Small-Cap Value Series (“Small Cap Value Fund”).

Dividend Growth Fund’s investment objective is to seek current income and capital appreciation. Growth Opportunities Fund’s investment objective is capital appreciation. Small Cap Value Fund’s investment objective is long-term capital appreciation. Each Fund has eleven active share classes at May 31, 2024: Class A, C, F, F3, I, P, R2, R3, R4, R5 and R6, each with different expenses and dividends. A front-end sales charge is normally added to the net asset value (“NAV”) for Class A shares. There is no front-end sales charge in the case of Class C, F, F3, I, P, R2, R3, R4, R5 and R6 shares, although there may be a contingent deferred sales charge (“CDSC”) in certain cases as follows: Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); and Class C shares redeemed before the first anniversary of purchase. Class C shares automatically convert to Class A shares on the 25th day of the month (or, if the 25th day is not a business day, the next business day thereafter) following the eighth anniversary of the month on which the purchase order was accepted, provided that the Funds or financial intermediary through which a shareholder purchased Class C shares have records verifying that the C shares have been held at least eight years. The Funds’ Class P shares are closed to substantially all new investors, with certain exceptions as set forth in the Funds’ prospectus.

The Funds are investment companies and apply the accounting and reporting guidance of the Financial Accounting Standard Board (“FASB”) Accounting Standard Codification Topic 946 Financial Services - Investment Companies. The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

SIGNIFICANT ACCOUNTING POLICIES

(a)

Investment Valuation–Under procedures approved by the Funds’ Board of Directors (the “Board”), the Board has designated the determination of fair value of the Funds’ portfolio investments to Lord, Abbett & Co. LLC (“Lord Abbett”) as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a Pricing Committee that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities actively traded on any recognized U.S. or non-U.S. exchange or on The NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system

Notes to Financial Statements (unaudited)(continued)

on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Pricing Committee uses a third-party fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used.

Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.

Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. Investments in open-end money market mutual funds are valued at their NAV as of the close of each business day.

(b)

Security Transactions–Security transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Realized and unrealized gains (losses) are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.

(c)

Investment Income–Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other, if applicable, in the Statements of Operations. Withholding taxes on foreign dividends have been provided for in accordance with the applicable country’s tax rules and rates. Investment income is allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.

(d)

Income Taxes–It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.

Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund’s filed U.S. federal tax returns remains open for the fiscal years ended November 30, 2020 through November 30, 2023. The statutes of limitations on the Company’s state and local tax returns may remain open for an additional year depending upon each Fund’s jurisdiction.

Notes to Financial Statements (unaudited)(continued)

(e)

Expenses–Expenses incurred by the Company that do not specifically relate to an individual fund are generally allocated to the Funds within the Company on a pro rata basis by relative net assets. Expenses, excluding class-specific expenses, are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. In addition, Class F3 and R6 bear only their class-specific shareholder servicing expenses. Class A, C, F, P, R2, R3 and R4 shares bear their class-specific share of all expenses and fees relating to the Funds’ 12b-1 Distribution Plan.

(f)

Foreign Transactions–The books and records of each Fund are maintained in U.S. dollars and transactions denominated in foreign currencies are recorded in each Fund’s records at the rate prevailing when earned or recorded. Asset and liability accounts that are denominated in foreign currencies are adjusted daily to reflect current exchange rates and any unrealized gain (loss), if applicable, is included in Net change in unrealized appreciation/depreciation on translation of assets and liabilities denominated in foreign currencies in each Fund’s Statement of Operations. The resultant exchange gains and losses upon settlement of such transactions, if applicable, are included in Net realized gain (loss) on foreign currency related transactions in each Fund’s Statement of Operations. The Funds do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in market prices of the securities.

Each Fund uses foreign currency exchange contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts’ terms.

(g)

Futures Contracts–Each Fund may purchase and sell index futures contracts to enhance returns, to attempt to economically hedge some of its investment risk, or as a substitute position in lieu of holding the underlying asset on which the instrument is based. At the time of entering into a futures transaction, an investor is required to deposit and maintain a specified amount of cash or eligible securities called “initial margin.” Subsequent payments made or received by the Funds called “variation margin” are made on a daily basis as the market price of the futures contract fluctuates. Each Fund will record an unrealized gain (loss) based on the amount of variation margin. When a contract is closed, a realized gain (loss) is recorded equal to the difference between the opening and closing value of the contract.

(h)

Repurchase Agreements–Each Fund may enter into repurchase agreements with respect to securities. A repurchase agreement is a transaction in which a fund acquires a security and simultaneously commits to resell that security to the seller (a bank or securities dealer) at an agreed-upon price on an agreed-upon date. Each Fund requires at all times that the repurchase agreement be collateralized by cash, or by securities of the U.S. Government, its agencies, its instrumentalities, or U.S. Government sponsored enterprises having a value equal to, or in excess of, the value of the repurchase agreement (including accrued interest). If the seller of the agreement defaults on its obligation to repurchase the underlying securities at a time when the fair value of these securities has declined, a Fund may incur a loss upon disposition of the securities.

(i)

Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable

Notes to Financial Statements (unaudited)(continued)

inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below:

•	Level 1 –	unadjusted quoted prices in active markets for identical investments;
•	Level 2 –	other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and
•	Level 3 –	significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

A summary of inputs used in valuing each Fund’s investments as of May 31, 2024 and, if applicable, Level 3 rollforwards for the six months then ended is included in each Fund’s Schedule of Investments.

Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES

Management Fee

The Company has a management agreement with Lord Abbett, pursuant to which Lord Abbett provides each Fund with investment management services and executive and other personnel, provides office space and pays for ordinary and necessary office and clerical expenses relating to research and statistical work and supervision of each Fund’s investment portfolio. The management fee is accrued daily and payable monthly.

The management fee is based on each Fund’s average daily net assets at the following annual rates:

Dividend Growth Fund
First $2 billion	.55%
Over $2 billion	.49%

Growth Opportunities Fund
First $1 billion	.65%
Next $3 billion	.63%
Next $1 billion	.60%
Over $5 billion	.58%

Small Cap Value Fund
First $2 billion	.75%
Over $2 billion	.70%

Notes to Financial Statements (unaudited)(continued)

For the six months ended May 31, 2024, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund’s average daily net assets:

	Net Effective Management Fee
Dividend Growth Fund	.52%
Growth Opportunities Fund	.48%
Small Cap Value Fund	.75%

In addition, Lord Abbett provides certain administrative services to each Fund pursuant to an Administrative Services Agreement in return for a fee at an annual rate of .04% of each Fund’s average daily net assets. The fund administration fee is accrued daily and payable monthly. Lord Abbett voluntarily waived the following fund administration fees during the six months ended May 31, 2024.

Fund	Fund Administration Fee
Dividend Growth Fund	$20,266
Growth Opportunities Fund	4,312
Small Cap Value Fund	4,275

For the period ended May 31, 2024 and continuing through March 31, 2025, Lord Abbett has contractually agreed to waive its fees and reimburse expenses to the extent necessary to limit total net annual operating expenses, excluding certain of the Funds’ expenses to the following annual rates:

		Classes
Fund	A, C, F, I, P, R2, R3 and R5	F3 and R6
Growth Opportunities Fund	.71%	.63%

All contractual fee waivers and expense reimbursement agreements between the Funds and Lord Abbett may be terminated only upon the approval of the Board.

12b-1 Distribution Plan

Each Fund has adopted a distribution plan with respect to Class A, C, F, P, R2, R3 and R4 shares pursuant to Rule 12b-1 under the Act, which provides for the payment of ongoing distribution and service fees to Lord Abbett Distributor LLC (the “Distributor”), an affiliate of Lord Abbett. The distribution and service fees are accrued daily and payable monthly. The following annual rates have been authorized by the Board pursuant to the plan:

Fees*	Class A	Class C	Class F⁽¹⁾⁽²⁾	Class P	Class R2	Class R3	Class R4
Service	0.25%	0.25%	–	0.25%	0.25%	0.25%	0.25%
Distribution	–	0.75%	0.10%	0.20%	0.35%	0.25%	–

*	The Funds may designate a portion of the aggregate fees attributable to service activities for purposes of calculating Financial Industry Regulatory Authority, Inc. sales charge limitations.
⁽¹⁾	The Class F shares Rule 12b-1 fee may be designated as a service fee in limited circumstances as described in the Funds’ prospectus.
⁽²⁾	For the six months ended May 31, 2024 and continuing through March 31, 2025, the Distributor has contractually agreed to waive Dividend Growth Fund’s 0.10% Rule 12b-1 fee for Class F shares. This agreement may be terminated only by the Funds’ Board.

Class F3, Class I, Class R5 and Class R6 shares do not have a distribution plan.

Notes to Financial Statements (unaudited)(continued)

Commissions

The Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, during the six months ended May 31, 2024:

	Distributor Commissions		Dealers’ Concessions
Dividend Growth Fund	$	123,165	$	784,439
Growth Opportunities Fund		17,743		99,367
Small Cap Value Fund		5,880		38,098

The Distributor received the following amounts of CDSCs for the six months ended May 31, 2024:

	Class A		Class C
Dividend Growth Fund	$	911	$	3,926
Growth Opportunities Fund		44		45
Small Cap Value Fund		–		9

Other Related Parties

As of May 31, 2024, the percentages of Dividend Growth Fund’s and Small Cap Value Fund’s outstanding shares owned by each Fund that invests principally in affiliated mutual funds managed by Lord Abbett (“Fund of Funds”) were as follows:

Fund of Funds	Dividend Growth Fund	Small Cap Value Fund
Alpha Strategy Fund	–	25.68%
Multi-Asset Balanced Opportunity Fund	6.41%	–
Multi-Asset Income Fund	1.41%	–

One Director and certain of the Funds’ officers have an interest in Lord Abbett.

DISTRIBUTIONS AND TAX INFORMATION

Dividends are paid from net investment income, if any. Capital gain distributions are paid from taxable net realized gains from investments transactions, reduced by allowable capital loss carryforwards, if any. The capital loss carryforward amount, if any, is available to offset future net capital gains. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amounts of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profits for tax purposes, are reported as a tax return of capital.

Notes to Financial Statements (unaudited)(continued)

The tax character of distributions paid during the six months ended May 31, 2024 was as follows:

Fund

Tax-Exempt
Income

Ordinary
Income

Net
Long-Term
Capital Gains

Return of
Capital

Total
Distributions
Paid

Dividend Growth Fund

–

16,834,740

20,588,083

–

37,422,823

Growth Opportunities Fund

–

Small Cap Value Fund

–

764,466

–

764,466

The tax character of distributions paid during the fiscal year ended November 30, 2023 was as follows:

Fund

Tax-Exempt
Income

Ordinary
Income

Net
Long-Term
Capital Gains

Return of
Capital

Total
Distributions
Paid

Dividend Growth Fund

–

31,193,274

163,532,113

–

194,725,387

Growth Opportunities Fund

–

Small Cap Value Fund

–

1,076,186

12,431,524

–

13,507,710

Net capital losses recognized by the Funds may be carried forward indefinitely and retain their character as short-term and/or long-term losses. Capital losses incurred that will be carried forward are as follows:

Fund	Short-Term Losses			Long-Term Losses			Net Capital Losses
Growth Opportunities Fund	$	(82,363,720	)	$	–		$	(82,363,720	)
Small Cap Value Fund		(900,773	)		(784,993	)		(1,685,766	)

As of May 31, 2024, the tax cost of investments and the breakdown of unrealized appreciation/(depreciation) for each Fund are shown below. The difference between book-basis and tax-basis unrealized appreciation/(depreciation) is attributable to the tax treatment of certain securities and net operating loss.

Fund	Tax Cost of Investments		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation/ (Depreciation)
Dividend Growth Fund	$	2,581,178,958	$	1,283,100,381	$	(17,516,993	)	$	1,265,583,388
Growth Opportunities Fund		337,219,452		119,318,825		(7,794,315	)		111,524,510
Small Cap Value Fund		358,584,270		75,554,622		(25,002,949	)		50,551,673

5.	PORTFOLIO SECURITIES TRANSACTIONS

Purchases and sales of investment securities (excluding short-term investments) during the six months ended May 31, 2024 were as follows:

	Purchases		Sales
Dividend Growth Fund	$	485,950,008	$	787,721,090
Growth Opportunities Fund		255,376,239		288,815,053
Small Cap Value Fund		108,338,363		133,182,810

There were no purchases or sales of U.S. Government securities during the six months ended May 31, 2024.

Each Fund is permitted to purchase and sell securities (“cross-trade”) from and to other Lord Abbett funds or client accounts pursuant to procedures approved by the Board in compliance with Rule 17a-7 under the Act (the “Rule”). Each cross-trade is executed at a fair market price in compliance with provisions of the Rule. For the six months ended May 31, 2024, Dividend Growth Fund engaged in cross-trade sales of $28,268,327, which resulted in a net realized gain (loss) of $3,416,851.

Notes to Financial Statements (unaudited)(continued)

DISCLOSURES ABOUT OFFSETTING ASSETS AND LIABILITIES

The FASB requires disclosures intended to help better assess the effect or potential effect of offsetting arrangements on a fund’s financial position. The following tables illustrate gross and net information about recognized assets and liabilities eligible for offset in the Statements of Assets and Liabilities; and disclose such amounts subject to an enforceable master netting agreement or similar agreement, by the counterparty. A master netting agreement is an agreement between a fund and the counterparty which provides for the net settlement of amounts owed under all contracts traded under that agreement, as well as cash collateral, through a single payment by one party to the other in the event of default on or termination of any one contract. The Funds’ accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the master netting agreement does not result in an offset of reported amounts of financial assets and liabilities in the Statements of Assets and Liabilities across transactions between the Funds and the applicable counterparty:

	Dividend Growth Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities		Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements	$	41,698,987	$	–	$	41,698,987
Total	$	41,698,987	$	–	$	41,698,987

	Net Amounts of Assets Presented in the Statement of Assets and Liabilities		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty			Financial Instruments		Cash Collateral Received^(a)		Securities Collateral Received^(a)			Net Amount^(b)
Fixed Income Clearing Corp.	$	41,698,987	$	–	$	–		$(41,698,987	)	$	–
Total	$	41,698,987	$	–	$	–		$(41,698,987	)	$	–

			Growth Opportunities Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities		Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements	$	5,246,555	$	–	$	5,246,555
Total	$	5,246,555	$	–	$	5,246,555

	Net Amounts of Assets Presented in the Statement of Assets and Liabilities		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty			Financial Instruments		Cash Collateral Received^(a)		Securities Collateral Received^(a)			Net Amount^(b)
Fixed Income Clearing Corp.	$	5,246,555	$	–	$	–		$(5,246,555	)	$	–
Total	$	5,246,555	$	–	$	–		$(5,246,555	)	$	–

					Small Cap Value Fund
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Assets and Liabilities			Net Amounts of Assets Presented in the Statement of Assets and Liabilities
Repurchase Agreements	$	3,635,069	$	–		$	3,635,069
Total	$	3,635,069	$	–		$	3,635,069

Notes to Financial Statements (unaudited)(continued)

	Net Amounts of Assets Presented in the Statement of Assets and Liabilities		Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty			Financial Instruments		Cash Collateral Received^(a)		Securities Collateral Received^(a)			Net Amount^(b)
Fixed Income Clearing Corp.	$	3,635,069	$	–	$	–		$(3,635,069	)	$	–
Total	$	3,635,069	$	–	$	–		$(3,635,069	)	$	–

^(a)	Collateral disclosed is limited to an amount not to exceed 100% of the net amount of assets (liabilities) presented in the Statements of Assets and Liabilities, for each respective counterparty.
^(b)	Net amount represents the amount owed to the Fund by the counterparty as of May 31, 2024.

DIRECTORS’ REMUNERATION

The Company’s officers and one Director, who are associated with Lord Abbett, do not receive any compensation from the Company for serving in such capacities. Independent Directors’ fees are allocated among all Lord Abbett-sponsored funds primarily based on the relative net assets of each fund. There is an equity-based plan available to all Independent Directors under which Independent Directors may elect to defer receipt of a portion of Directors’ fees. The deferred amounts are treated as though equivalent dollar amounts had been invested in the Funds. Such amounts and earnings accrued thereon are included in Directors’ fees in the Statements of Operations and in Directors’ fees payable in the Statements of Assets and Liabilities and are not deductible for U.S. federal income tax purposes until such amounts are paid.

LINE OF CREDIT

For the period ended May 31, 2024, the Funds and certain other funds managed by Lord Abbett (collectively, the “Participating Funds”) were party to a syndicated line of credit facility with various lenders for $1.6 billion (the “Syndicated Facility”) under which State Street Bank and Trust Company (“SSB”) participated as a lender and as agent for the lenders. The Participating Funds were subject to graduated borrowing limits of one-third of fund net assets (if fund net assets are less than $750 million), $250 million, $300 million, $700 million, or $1 billion, based on past borrowings and likelihood of future borrowings, among other factors.

For the period ended May 31, 2024, the Participating Funds were also party to an additional uncommitted line of credit facility with SSB for $330 million (the “Bilateral Facility”). Under the Bilateral Facility, the Participating Funds were subject to graduated borrowing limits of one-third of fund net assets (if fund net assets are less than $750 million), or $250 million based on past borrowings and likelihood of future borrowings, among other factors. These credit facilities are to be used for temporary or emergency purposes as additional sources of liquidity to satisfy redemptions.

For the six months ended May 31, 2024, the Funds did not utilize the Syndicated Facility or Bilateral Facility.

INTERFUND LENDING PROGRAM

Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission (“SEC exemptive order”), certain registered open-end management investment companies managed by Lord Abbett, including each Fund, participate in a joint lending and borrowing program (the “Interfund Lending Program”). The SEC exemptive order allows the funds that participate in the Interfund Lending Program to borrow money from and lend money to each other for temporary or emergency purposes subject to the limitations and conditions.

Notes to Financial Statements (unaudited)(continued)

For the six months ended May 31, 2024, the following Fund participated as a lender in the Interfund Lending Program. For the period in which the loan was outstanding, the average amount loaned, average interest rate and interest income were as follows:

Fund		Average Amount Loaned				Average Interest Rate				Interest Income*
Dividend Growth Fund			$19,131,424				4.57%				$2,393

*	Statements of Operations location: Interest earned from Interfund Lendng.

10.

CUSTODIAN AND ACCOUNTING AGENT

SSB is the Company’s custodian and accounting agent. SSB performs custodial, accounting and recordkeeping functions relating to portfolio transactions and calculating each Fund’s NAV.

11.

SECURITIES LENDING AGREEMENT

The Funds have established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Funds’ securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan. Any income earned from securities lending is included in Securities lending net income in each Fund’s Statement of Operations.

The initial collateral received by the Funds is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Funds will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Funds continue to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.

As of May 31, 2024, the market value of securities loaned and collateral received for the Fund were as follows:

Funds	Market Value of Securities Loaned	Collateral Received⁽¹⁾
Small Cap Value Fund	$5,562,552	$5,612,714

⁽¹⁾	Statements of Assets and Liabilities location: Collateral due to broker for securities lending.

12.

INVESTMENT RISKS

Each Fund is subject to the general risks and considerations associated with equity investing. The value of the Funds’ investments will fluctuate in response to movements in the equity securities markets in general and to the changing prospects of individual companies and/or sectors in which the Funds invest.

Notes to Financial Statements (unaudited)(continued)

Dividend Growth Fund invests primarily in equity securities of large and mid-sized company stocks that have a history of growing their dividends, but there is no guarantee that a company will pay a dividend. Also, equity securities may experience significant volatility. Such securities may fall sharply in response to adverse events affecting overall markets, a particular industry or sector, or an individual company’s financial condition. If the Fund’s fundamental research and quantitative analysis fail to produce the intended result, the Fund may suffer losses or underperform its benchmark or other funds with the same investment objective or similar strategies, even in a favorable market. Large and mid-sized company stocks each may perform differently than the market as a whole and other types of stocks. This is because different types of stocks tend to shift in and out of favor depending on market and economic conditions. Mid-sized company stocks may be less able to weather economic shifts or other adverse developments than those of larger, more established companies. Securities of mid-sized companies tend to be more sensitive to changing economic, market, and industry conditions and tend to be less liquid than equity securities of larger companies, especially over the short term. The securities of mid-sized companies may be less well-known and less widely held and trade less frequently and in more limited volume than the securities of large cap company stocks. Mid-sized companies also may fall out of favor relative to larger companies in certain market cycles, causing the Fund to incur losses or underperform.

Growth Opportunities Fund has particular risks associated with growth stocks. Growth companies may grow faster than other companies, which may result in more volatility in their stock prices. In addition, if the Fund’s assessment of a company’s potential for growth or market conditions is wrong, it could suffer losses or produce poor performance relative to other funds, even in a favorable market. Growth stocks often are more sensitive to market fluctuations than other securities because their market prices are highly sensitive to future earnings expectations. The Fund invests largely in mid-sized company stocks, which may be less able to weather economic shifts or other adverse developments than those of larger, more established companies. Due to the Fund’s investment exposure to American Depositary Receipts, foreign companies and emerging markets, the Fund may experience increased market, liquidity, currency, political, information, and other risks. As compared with companies organized and operated in the U.S., these companies may be more vulnerable to economic, political and social instability and subject to less government supervision, lack of transparency, inadequate regulatory and accounting standards, and foreign taxes. The securities of foreign companies also may be subject to inadequate exchange control regulations, the imposition of economic sanctions or threat thereof or other government restrictions, higher transaction and other costs, and delays in settlement to the extent they are traded on non-U.S. exchanges or markets.

Small Cap Value Fund has particular risks associated with small company value stocks. Small company value stocks may perform differently than the market as a whole and from other types of stocks, such as large company stocks or growth stocks. The market may fail to recognize the intrinsic value of particular value stocks for a long time. In addition, small cap company stocks may be more volatile and less liquid than large cap company stocks, especially over the short term. The securities of small companies may be less well-known and less widely held and trade less frequently and in more limited volume than the securities of large cap company stocks. Small companies also may fall out of favor relative to larger companies in certain market cycles, causing the Fund to incur losses or underperform. Also, if the Fund’s assessment of a company’s value or prospects for exceeding earnings expectations or market conditions is wrong, the Fund could suffer losses or produce poor performance relative to other funds, even in a favorable market.

Notes to Financial Statements (unaudited)(continued)

Geopolitical and other events (e.g., wars, terrorism, natural disasters, epidemics or pandemics, may disrupt securities markets and adversely affect global economies and markets, thereby decreasing the value of each Fund’s investments. Market disruptions can also prevent the Funds from implementing their investment strategies and achieving their investment objectives.

In March 2023, the shut-down of certain financial institutions raised economic concerns over disruption in the U.S. banking system. There can be no certainty that the actions taken by the U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system. Other adverse developments that affect financial institutions or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, may reduce liquidity in the market generally or have other adverse effects on the economy, the Funds or issuers in which the Funds invest. In addition, issuers in which the Funds invest and the Funds may not be able to identify all potential solvency or stress concerns with respect to a financial institution or to transfer assets from one bank or financial institution to another in a timely manner in the event such bank or financial institution comes under stress or fails.

The impact of the COVID-19 outbreak, and the effects of other infectious illness outbreaks, epidemics, or pandemics, may be short term or may continue for an extended period of time. For example, a global pandemic or other widespread health crises could negatively affect the global economy, the economies of individual countries, and the financial performance of individual issuers, sectors, industries, asset classes, and markets in significant and unforeseen ways. Health crises caused by outbreaks of disease may also exacerbate other pre-existing political, social, and economic risks in certain countries or globally. The foregoing could disrupt the operations of each Fund and its service providers, adversely affect the value and liquidity of each Fund’s investments, and negatively impact each Fund’s performance and your investment in the Fund.

13.	SUMMARY OF CAPITAL TRANSACTIONS

Transactions in shares of capital stock were as follows:

	Six Months Ended
	May 31, 2024						Year Ended
Dividend Growth Fund	(unaudited)						November 30, 2023
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		4,446,388		$	90,557,586			10,677,245		$	188,678,921
Reinvestment of distributions		1,122,156			22,223,195			6,670,604			112,605,690
Shares reacquired		(7,886,691	)		(160,349,617	)		(19,162,009	)		(338,919,072	)
Decrease		(2,318,147	)	$	(47,568,836	)		(1,814,160	)	$	(37,634,461	)
Class C Shares
Shares sold		461,525		$	9,247,083			1,222,741		$	21,189,925
Reinvestment of distributions		43,700			835,362			416,951			6,877,111
Shares reacquired		(1,142,901	)		(22,968,246	)		(3,054,272	)		(52,932,246	)
Decrease		(637,676	)	$	(12,885,801	)		(1,414,580	)	$	(24,865,210	)
Class F Shares
Shares sold		92,943		$	1,946,689			722,786		$	12,893,398
Reinvestment of distributions		32,139			641,892			537,743			9,113,225
Shares reacquired		(405,027	)		(8,318,469	)		(7,961,273	)		(142,808,942	)
Decrease		(279,945	)	$	(5,729,888	)		(6,700,744	)	$	(120,802,319	)

Notes to Financial Statements (unaudited)(continued)

	Six Months Ended
	May 31, 2024						Year Ended
Dividend Growth Fund	(unaudited)						November 30, 2023
Class F3 Shares	Shares			Amount			Shares			Amount
Shares sold		1,345,065		$	28,084,564			2,191,018		$	39,548,182
Reinvestment of distributions		162,967			3,307,098			926,703			15,990,267
Shares reacquired		(1,728,492	)		(35,982,659	)		(3,619,205	)		(65,552,023	)
Decrease		(220,460	)	$	(4,590,997	)		(501,484	)	$	(10,013,574	)
Class I Shares
Shares sold		3,033,478		$	62,697,716			11,768,738		$	212,182,107
Reinvestment of distributions		424,361			8,535,157			2,381,279			40,816,261
Shares reacquired		(13,413,539	)		(272,931,535	)		(10,888,590	)		(195,057,892	)
Increase (decrease)		(9,955,700	)	$	(201,698,662	)		3,261,427		$	57,940,476
Class P Shares
Shares sold		2,032		$	41,894			5,658		$	100,111
Reinvestment of distributions		395			7,868			2,702			45,894
Shares reacquired		(3,261	)		(68,529	)		(12,506	)		(223,559	)
Decrease		(834	)	$	(18,767	)		(4,146	)	$	(77,554	)
Class R2 Shares
Shares sold		2,301		$	47,049			3,307		$	59,434
Reinvestment of distributions		545			10,871			3,449			58,895
Shares reacquired		(2,237	)		(47,084	)		(3,880	)		(68,267	)
Increase		609		$	10,836			2,876		$	50,062
Class R3 Shares
Shares sold		58,279		$	1,189,601			265,132		$	4,652,843
Reinvestment of distributions		6,300			123,489			33,427			560,244
Shares reacquired		(101,984	)		(2,044,698	)		(164,327	)		(2,880,576	)
Increase (decrease)		(37,405	)	$	(731,608	)		134,232		$	2,332,511
Class R4 Shares
Shares sold		23,180		$	467,036			168,002		$	3,075,981
Reinvestment of distributions		1,620			32,049			8,311			140,244
Shares reacquired		(46,570	)		(937,692	)		(50,402	)		(908,270	)
Increase (decrease)		(21,770	)	$	(438,607	)		125,911		$	2,307,955
Class R5 Shares
Shares sold		4,441		$	88,460			7,141		$	125,580
Reinvestment of distributions		168			3,390			809			13,874
Shares reacquired		(1,415	)		(29,516	)		(9,981	)		(182,420	)
Increase (decrease)		3,194		$	62,334			(2,031	)	$	(42,966	)
Class R6 Shares
Shares sold		106,580		$	2,199,163			97,203		$	1,745,819
Reinvestment of distributions		2,869			58,262			18,982			327,381
Shares reacquired		(78,983	)		(1,602,409	)		(173,555	)		(3,165,552	)
Increase (decrease)		30,466		$	655,016			(57,370	)	$	(1,092,352	)

Notes to Financial Statements (unaudited)(continued)

	Six Months Ended
	May 31, 2024						Year Ended
Growth Opportunities Fund	(unaudited)						November 30, 2023
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		575,800		$	11,977,270			2,190,571		$	40,600,648
Shares reacquired		(1,415,251	)		(29,321,270	)		(4,346,989	)		(79,849,057	)
Decrease		(839,451	)	$	(17,344,000	)		(2,156,418	)	$	(39,248,409	)
Class C Shares
Shares sold		27,155		$	315,009			217,475		$	2,328,679
Shares reacquired		(203,649	)		(2,417,447	)		(883,021	)		(9,281,371	)
Decrease		(176,494	)	$	(2,102,438	)		(665,546	)	$	(6,952,692	)
Class F Shares
Shares sold		1,609		$	37,897			103,435		$	1,977,776
Shares reacquired		(17,854	)		(404,278	)		(736,780	)		(14,441,971	)
Decrease		(16,245	)	$	(366,381	)		(633,345	)	$	(12,464,195	)
Class F3 Shares
Shares sold		460,114		$	12,084,428			651,716		$	14,791,256
Shares reacquired		(381,330	)		(9,866,870	)		(638,676	)		(14,447,201	)
Increase		78,784		$	2,217,558			13,040		$	344,055
Class I Shares
Shares sold		204,921		$	5,236,004			1,017,333		$	23,016,141
Shares reacquired		(508,983	)		(12,685,833	)		(403,304	)		(9,066,379	)
Increase (decrease)		(304,062	)	$	(7,449,829	)		614,029		$	13,949,762
Class P Shares
Shares sold		7,917		$	148,109			21,986		$	375,774
Shares reacquired		(28,660	)		(549,021	)		(11,505	)		(199,306	)
Increase (decrease)		(20,743	)	$	(400,912	)		10,481		$	176,468
Class R2 Shares
Shares sold		11,206		$	214,939			9,380		$	154,064
Shares reacquired		(18,485	)		(341,509	)		(18,340	)		(293,258	)
Decrease		(7,279	)	$	(126,570	)		(8,960	)	$	(139,194	)
Class R3 Shares
Shares sold		34,553		$	675,465			154,576		$	2,698,543
Shares reacquired		(75,885	)		(1,453,789	)		(194,382	)		(3,326,484	)
Decrease		(41,332	)	$	(778,324	)		(39,806	)	$	(627,941	)
Class R4 Shares
Shares sold		6,777		$	138,568			14,628		$	266,808
Shares reacquired		(14,029	)		(289,903	)		(30,347	)		(548,054	)
Decrease		(7,252	)	$	(151,335	)		(15,719	)	$	(281,246	)
Class R5 Shares
Shares sold		442		$	10,074			314		$	7,048
Shares reacquired		(2,076	)		(48,285	)		(1,048	)		(24,144	)
Decrease		(1,634	)	$	(38,211	)		(734	)	$	(17,096	)
Class R6 Shares
Shares sold		24,834		$	637,798			54,125		$	1,233,462
Shares reacquired		(43,604	)		(1,134,239	)		(77,010	)		(1,816,922	)
Decrease		(18,770	)	$	(496,441	)		(22,885	)	$	(583,460	)

Notes to Financial Statements (unaudited)(continued)

	Six Months Ended
	May 31, 2024						Year Ended
Small Cap Value Fund	(unaudited)						November 30, 2023
Class A Shares	Shares			Amount			Shares			Amount
Shares sold		360,672		$	5,422,309			1,329,250		$	17,960,443
Reinvestment of distributions		14,747			220,475			512,362			6,271,310
Shares reacquired		(1,231,556	)		(18,461,229	)		(2,890,442	)		(38,903,916	)
Decrease		(856,137	)	$	(12,818,445	)		(1,048,830	)	$	(14,672,163	)
Class C Shares
Shares sold		40,409		$	126,834			172,512		$	510,034
Reinvestment of distributions		8,797			27,622			273,188			713,021
Shares reacquired		(341,916	)		(1,091,828	)		(696,579	)		(1,975,991	)
Decrease		(292,710	)	$	(937,372	)		(250,879	)	$	(752,936	)
Class F Shares
Shares sold		4,963		$	77,384			101,298		$	1,347,637
Reinvestment of distributions		370			5,614			14,254			176,897
Shares reacquired		(34,610	)		(529,038	)		(329,893	)		(4,476,815	)
Decrease		(29,277	)	$	(446,040	)		(214,341	)	$	(2,952,281	)
Class F3 Shares
Shares sold		85,369		$	1,737,134			253,515		$	4,566,371
Reinvestment of distributions		4,145			83,678			47,779			788,836
Shares reacquired		(175,982	)		(3,576,588	)		(320,310	)		(5,818,157	)
Decrease		(86,468	)	$	(1,755,776	)		(19,016	)	$	(462,950	)
Class I Shares
Shares sold		166,982		$	3,372,696			294,821		$	5,280,192
Reinvestment of distributions		19,767			394,751			270,536			4,420,553
Shares reacquired		(624,715	)		(12,507,589	)		(1,742,680	)		(31,095,347	)
Decrease		(437,966	)	$	(8,740,142	)		(1,177,323	)	$	(21,394,602	)
Class P Shares
Shares sold		31,101		$	424,205			91,057		$	1,095,171
Reinvestment of distributions		–			–			39,991			444,295
Shares reacquired		(257,709	)		(3,505,954	)		(155,875	)		(1,933,156	)
Decrease		(226,608	)	$	(3,081,749	)		(24,827	)	$	(393,690	)
Class R2 Shares
Shares sold		23,875		$	326,743			17,041		$	195,957
Reinvestment of distributions		–			–			1,775			19,259
Shares reacquired		(10,456	)		(140,168	)		(18,875	)		(222,280	)
Increase (decrease)		13,419		$	186,575			(59	)	$	(7,064	)
Class R3 Shares
Shares sold		10,964		$	151,308			71,450		$	897,197
Reinvestment of distributions		–			–			8,488			94,985
Shares reacquired		(19,830	)		(269,370	)		(67,934	)		(836,904	)
Increase (decrease)		(8,866	)	$	(118,062	)		12,004		$	155,278
Class R4 Shares
Shares sold		2,605		$	39,177			4,766		$	63,222
Reinvestment of distributions		29			429			895			10,978
Shares reacquired		(957	)		(14,147	)		(10,209	)		(140,412	)
Increase (decrease)		1,677		$	25,459			(4,548	)	$	(66,212	)

Notes to Financial Statements (unaudited)(concluded)

	Six Months Ended
	May 31, 2024						Year Ended
Small Cap Value Fund	(unaudited)						November 30, 2023
Class R5 Shares	Shares			Amount			Shares			Amount
Shares sold		167		$	3,356			352		$	6,282
Reinvestment of distributions		41			827			491			8,029
Shares reacquired		(464	)		(9,448	)		(1,065	)		(18,773	)
Decrease		(256	)	$	(5,265	)		(222	)	$	(4,462	)
Class R6 Shares
Shares sold		78,635		$	1,578,844			54,857		$	992,497
Reinvestment of distributions		154			3,108			2,603			42,956
Shares reacquired		(16,798	)		(341,015	)		(85,433	)		(1,532,981	)
Increase (decrease)		61,991		$	1,240,937			(27,973	)	$	(497,528	)

Changes in and Disagreements with Accountants

There were no changes in or disagreements with accountants during the period.

Proxy Disclosures

There were no matters submitted to a vote of shareholders during the period.

Remuneration Paid to Directors, Officers, and Others

Remuneration paid to directors, officers, and others is included in “Directors’ Remuneration” under Item 7 of this Form N-CSR.

Statement Regarding Basis for Approval of Investment Advisory Contract

Research Fund

(Lord Abbett Dividend Growth Fund, Lord Abbett Growth Opportunities Fund, and Lord Abbett Small Cap Value Fund)

The Board, including all of the Directors who are not “interested persons” of the Company or of Lord Abbett, as defined in the Investment Company Act of 1940, as amended (the “Independent Directors”), annually considers whether to approve the continuation of the existing management agreement between each Fund and Lord Abbett (the “Agreement”). In connection with its most recent approval, the Board reviewed materials relating specifically to the Agreement, as well as numerous materials received throughout the course of the year, including information about each Fund’s investment performance compared to the performance of an appropriate benchmark. Before making its decision as to each Fund, the Board had the opportunity to ask questions and request further information, taking into account its knowledge of Lord Abbett gained through its meetings and discussions. The Independent Directors also met with their independent legal counsel in various private sessions at which no representatives of management were present.

The materials received by the Board as to each Fund included, but were not limited to: (1) information provided by Broadridge Financial Solutions (“Broadridge”) regarding the investment performance of the Fund compared to the investment performance of certain funds with similar investment styles as determined by Broadridge, based, in part, on the Fund’s Morningstar category (the “performance peer group”) and the investment performance of one or more appropriate benchmarks; (2) information provided by Broadridge regarding the expense ratios, contractual and actual management fee rates, and other expense components for the Fund and certain funds in the same Morningstar category, with generally the same or similar share classes and operational characteristics, including asset size (the “expense peer group”); (3) certain supplemental investment performance information provided by Lord Abbett; (4) information provided by Lord Abbett on the expense ratios, management fee rates, and other expense components for the Fund; (5) sales and redemption information for the Fund; (6) information regarding Lord Abbett’s financial condition; (7) an analysis of the relative profitability to Lord Abbett of providing management and administrative services to the Fund; and (8) information regarding the personnel and other resources devoted by Lord Abbett to managing the Fund.

Investment Management and Related Services Generally. The Board considered the services provided by Lord Abbett to each Fund, including investment research, portfolio management, and trading, and Lord Abbett’s commitment to compliance with all applicable legal requirements. The

Statement Regarding Basis for Approval of Investment Advisory Contract (continued)

Board also observed that Lord Abbett was solely engaged in the investment management business and accordingly did not experience the conflicts of interest that may result from being engaged in other lines of business. The Board considered the investment advisory services provided by Lord Abbett to other clients, the fees charged for the services, and the differences in the nature of the services provided to each Fund and other Lord Abbett Funds, on the one hand, and the services provided to other clients, on the other. After reviewing these and related factors, the Board concluded that each Fund was likely to continue to benefit from the nature, extent and quality of the investment services provided by Lord Abbett under the Agreement.

Investment Performance. The Board reviewed each Fund’s investment performance in relation to that of its performance peer group and one or more appropriate benchmarks as of various periods ended June 30, 2023. With respect to Dividend Growth Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one- and five-year periods and below the median of the performance peer group for the three- and ten-year periods. With respect to Growth Opportunities Fund, the Board observed that the Fund’s investment performance was below the median of the performance peer group for the one-, three-, five- and ten-year periods. With respect to Small Cap Value Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-year period and below the median of the performance peer group for the three-, five- and ten-year periods. With respect to each Fund, the Board took into account actions taken by Lord Abbett to attempt to improve fund performance. The Board further considered Lord Abbett’s performance and reputation generally, the performance of other Lord Abbett-managed funds overseen by the Board, and the willingness of Lord Abbett to take steps intended to improve performance when appropriate. After reviewing these and other factors, including those described below, the Board concluded that each Fund’s Agreement should be continued.

Lord Abbett’s Personnel and Methods. The Board considered the qualifications of the personnel providing investment management services to each Fund, in light of its investment objective and discipline, and other services provided to each Fund by Lord Abbett. Among other things, the Board considered the size, experience, and turnover of Lord Abbett’s staff, Lord Abbett’s investment methodology and philosophy, and Lord Abbett's approach to recruiting, training, and retaining personnel.

Nature and Quality of Other Services. The Board considered the nature, quality, and extent of compliance, administrative, and other services performed by Lord Abbett and the nature and extent of Lord Abbett’s supervision of third-party service providers, including each Fund’s transfer agent and custodian.

Expenses. The Board considered the expense level of each Fund, including the contractual and actual management fee rates, and the expense levels of the Fund’s expense peer group. It also considered how each of the expense level and the actual management fee rates of each Fund related to those of the expense peer group and the amount and nature of the fees paid by shareholders. As to Dividend Growth Fund and Growth Opportunities Fund, the Board observed that the net total expense ratio and the actual management fee of each Fund were both below the median of the expense peer group. As to Small Cap Value Fund, the Board observed that the net total expense ratio of the Fund was above the median of the expense peer group and that the actual management fee of the Fund was below the median of the expense peer group. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the

Statement Regarding Basis for Approval of Investment Advisory Contract (continued)

Agreement, that the management fees paid by each Fund were reasonable in light of all of the factors it considered, including the nature, quality and extent of services provided by Lord Abbett.

Profitability. As to each Fund, the Board considered the level of Lord Abbett’s operating margin in managing the Fund, including a review of Lord Abbett’s methodology for allocating its costs to its management of the Fund. It considered whether each Fund was profitable to Lord Abbett in connection with the Fund’s operation, including the fee that Lord Abbett receives from the Fund for providing administrative services to the Fund. The Board considered Lord Abbett’s profit margins, excluding Lord Abbett’s marketing and distribution expenses. The Board also considered Lord Abbett’s profit margins without those exclusions in comparison with available industry data and how those profit margins could affect Lord Abbett’s ability to recruit and retain personnel. The Board recognized that Lord Abbett’s overall profitability was a factor in enabling it to attract and retain qualified personnel to provide services to each Fund. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that Lord Abbett’s profitability with respect to each Fund was not excessive.

Economies of Scale. As to each Fund, the Board considered the extent to which there had been economies of scale in managing the Fund, whether the Fund’s shareholders had appropriately benefited from such economies of scale, and whether there was potential for realization of any further economies of scale. The Board also considered information provided by Lord Abbett regarding how it shares any potential economies of scale through its investments in its businesses supporting the Funds. The Board also considered each Fund’s existing management fee schedule, with one or more contractual breakpoints in the level of management fee, and, with respect to each of Dividend Growth Fund and Growth Opportunities Fund, the Fund’s expense limitation agreement. Based on these considerations, the Board concluded that any economies of scale were adequately addressed in respect of each Fund.

Other Benefits to Lord Abbett. As to each Fund, the Board considered the amount and nature of the fees paid by the Fund and the Fund’s shareholders to Lord Abbett and the Distributor for services other than investment advisory services, such as the fee that Lord Abbett receives from each Fund for providing administrative services to the Fund. The Board also considered the revenues and profitability of Lord Abbett’s investment advisory business apart from its mutual fund business, and the intangible benefits enjoyed by Lord Abbett by virtue of its relationship with each Fund. The Board observed that the Distributor receives 12b-1 fees from certain of the Lord Abbett Funds as to shares held in accounts for which there is no other broker of record, that the Distributor may retain a portion of the 12b-1 fees it receives, and that the Distributor receives a portion of the sales charges on sales and redemptions of some classes of shares of the Lord Abbett Funds. In addition, the Board observed that Lord Abbett accrues certain benefits for its business of providing investment advice to clients other than the Lord Abbett Funds, but that business also benefits the Funds. The Board also noted that Lord Abbett, as disclosed in the prospectus of each Fund, has entered into revenue sharing arrangements with certain entities that distribute shares of the Lord Abbett Funds. The Board also took into consideration the investment research that Lord Abbett receives as a result of client brokerage transactions.

Statement Regarding Basis for Approval of Investment Advisory Contract (concluded)

Alternative Arrangements. As to each Fund, the Board considered whether, instead of approving continuation of the Agreement, it might be in the best interests of the Fund to implement one or more alternative arrangements, such as continuing to employ Lord Abbett, but on different terms. After considering all of the relevant factors, the Board unanimously found that continuation of the Agreement was in the best interests of each Fund and its shareholders and voted unanimously to approve the continuation of the Agreement on behalf of each Fund. As to each Fund, in considering whether to approve the continuation of the Agreement, the Board did not identify any single factor as paramount or controlling. Individual Directors may have evaluated the information presented differently from one another, giving different weights to various factors. This summary does not discuss in detail all matters considered.

This report, when not used for the general information of
shareholders of the Fund, is to be distributed only if preceded
or accompanied by a current fund prospectus.

Lord Abbett mutual fund shares are distributed by
LORD ABBETT DISTRIBUTOR LLC.

Lord Abbett Research Fund, Inc.

Lord Abbett Dividend Growth Fund

Lord Abbett Growth Opportunities Fund

Lord Abbett Small-Cap Value Series

LARF-3

(07/24)

Item 12:	Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
	Not applicable.

Item 13:	Portfolio Managers of Closed-End Management Investment Companies.
	Not applicable.

Item 14:	Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
	Not applicable.

Item 15:	Submission of Matters to a Vote of Security Holders.
	Not applicable.

Item 16:

Controls and Procedures.

(a)

The principal executive officer and principal financial & accounting officer have concluded as of a date within 90 days of the filing date of this report,

based on their evaluation of the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), that the design of such procedures is effective to provide reasonable assurance that material information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

(b)

There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 17:	Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
	Not applicable.

Item 18:	Recovery of Erroneously Awarded Compensation.
	Not applicable.

Item 19:

Exhibits.

	(a)(1)	Code of Ethics. Not applicable.

	(a)(2)	Not applicable.

	(a)(3)	Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 is attached hereto as a part of EX-99.CERT.

	(b)	Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 is provided as a part of EX-99.906CERT.

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.

LORD ABBETT RESEARCH FUND, INC.

	By:	/s/ Douglas B. Sieg
		Douglas B. Sieg President and Chief Executive Officer (Principal Executive Officer)

Date: July 26, 2024

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:	/s/ Douglas B. Sieg
		Douglas B. Sieg President and Chief Executive Officer (Principal Executive Officer)

Date: July 26, 2024

	By:	/s/ Michael J. Hebert
		Michael J. Hebert Chief Financial Officer and Treasurer (Principal Financial Officer)

Date: July 26, 2024

iso4217:USDxbrli:shares

Lord Abbett Research Fund N-CSRSCertified semi-annual shareholder report (management investment company)

Class C

LSRCX

Lord Abbett Small-Cap Value Fund

What were the Fund costs for the last period?

(based on a hypothetical $10,000 investment)

Key Fund Statistics

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Summary of Fund Changes

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Class R5

LRSTX

Lord Abbett Small-Cap Value Fund

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(based on a hypothetical $10,000 investment)

Key Fund Statistics

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Class R4

LGOSX

Lord Abbett Growth Opportunities Fund

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(based on a hypothetical $10,000 investment)

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Class R4

LAMSX

Lord Abbett Dividend Growth Fund

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(based on a hypothetical $10,000 investment)

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Class A

LAMAX

Lord Abbett Dividend Growth Fund

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(based on a hypothetical $10,000 investment)

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Class R2

LRSQX

Lord Abbett Small-Cap Value Fund

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(based on a hypothetical $10,000 investment)

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Class R6

LRSVX

Lord Abbett Small-Cap Value Fund

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(based on a hypothetical $10,000 investment)

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Class F

LGOFX

Lord Abbett Growth Opportunities Fund

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(based on a hypothetical $10,000 investment)

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Class P

LRSPX

Lord Abbett Small-Cap Value Fund

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(based on a hypothetical $10,000 investment)

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