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 811-07619
Nuveen Investment Trust
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Christopher M. Rohrbacher
Vice President and Secretary
333 West Wacker Drive, Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: August 31
Date of reporting period: February 29, 2020
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss.3507.
Item 1. Reports to Stockholders.
Fund Name | Class A | Class C | Class R3 | Class R6 | Class I |
Nuveen Large Cap Value Fund | NNGAX | NNGCX | NMMTX | NNGFX | NNGRX |
Nuveen Large Cap Core Fund | NLACX | NLCDX | — | NLCFX | NLCIX |
Nuveen Large Cap Growth Fund | NLAGX | NLCGX | — | NLAFX | NLIGX |
Nuveen Equity Long/Short Fund | NELAX | NELCX | — | — | NELIX |
Nuveen Equity Market Neutral Fund | NMAEX | NMECX | — | — | NIMEX |
Total Returns as of February 29, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 8/07/96 | (3.06)% | (8.08)% | 2.28% | 8.55% | 1.03% | 1.00% | ||
Class A Shares at maximum Offering Price | 8/07/96 | (8.66)% | (13.38)% | 1.07% | 7.92% | - | - | ||
Russell 1000® Value Index | - | (1.69)% | 0.54% | 5.51% | 10.40% | - | - | ||
Lipper Multi-Cap Value Funds Classification Average | - | (2.49)% | (2.60)% | 3.95% | 8.91% | - | - | ||
Class C Shares | 8/07/96 | (3.42)% | (8.77)% | 1.52% | 7.75% | 1.78% | 1.75% | ||
Class R3 Shares | 8/04/08 | (3.24)% | (8.36)% | 2.02% | 8.27% | 1.28% | 1.25% | ||
Class I Shares | 8/07/96 | (2.96)% | (7.88)% | 2.53% | 8.82% | 0.78% | 0.75% |
Total Returns as of February 29, 2020* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/30/16 | (3.06)% | (7.92)% | 6.10% | 0.72% | 0.69% |
Total Returns as of February 29, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | Since Inception | Gross | Net | |||
Class A Shares at NAV | 6/17/13 | (1.87)% | (5.48)% | 4.24% | 8.97% | 1.01% | 0.98% | ||
Class A Shares at maximum Offering Price | 6/17/13 | (7.51)% | (10.92)% | 3.01% | 8.01% | - | - | ||
Russell 1000® Index | - | 1.97% | 7.82% | 9.00% | 11.35% | - | - | ||
Lipper Multi-Cap Core Funds Classification Average | - | 0.26% | 4.34% | 6.37% | 8.96% | - | - | ||
Class C Shares | 6/17/13 | (2.20)% | (6.16)% | 3.47% | 8.16% | 1.76% | 1.73% | ||
Class I Shares | 6/17/13 | (1.71)% | (5.22)% | 4.51% | 9.25% | 0.76% | 0.73% |
Total Returns as of February 29, 2020* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/30/16 | (1.70)% | (5.16)% | 8.12% | 0.69% | 0.66% |
Total Returns as of February 29, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | Since Inception | Gross | Net | |||
Class A Shares at NAV | 6/17/13 | 3.20% | 5.43% | 7.16% | 11.28% | 1.11% | 0.99% | ||
Class A Shares at maximum Offering Price | 6/17/13 | (2.73)% | (0.63)% | 5.89% | 10.30% | - | - | ||
Russell 1000® Growth Index | - | 5.40% | 15.11% | 12.41% | 14.59% | - | - | ||
Lipper Multi-Cap Growth Funds Classification Average | - | 3.11% | 9.87% | 9.43% | 12.06% | - | - | ||
Class C Shares | 6/17/13 | 2.81% | 4.64% | 6.36% | 10.45% | 1.86% | 1.74% | ||
Class I Shares | 6/17/13 | 3.32% | 5.70% | 7.43% | 11.56% | 0.86% | 0.74% |
Total Returns as of February 29, 2020* | ||||||||
Cumulative | Average Annual | Expense Ratios** | ||||||
Inception Date | 6-Month | 1-Year | Since Inception | Gross | Net | |||
Class R6 Shares | 6/30/16 | 3.12% | 5.54% | 12.60% | 0.77% | 0.65% |
Total Returns as of February 29, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | 10-Year | Gross | Net | |||
Class A Shares at NAV | 12/30/08 | (8.08)% | (6.70)% | 2.67% | 6.97% | 2.72% | 2.64% | ||
Class A Shares at maximum Offering Price | 12/30/08 | (13.37)% | (12.06)% | 1.46% | 6.34% | - | - | ||
Russell 1000® Index | - | 1.97% | 7.82% | 9.00% | 12.64% | - | - | ||
Lipper Alternative Long/Short Equity Funds Classification Average | - | (1.87)% | (0.32)% | 2.14% | 4.83% | - | - | ||
Class C Shares | 12/30/08 | (8.43)% | (7.41)% | 1.90% | 6.17% | 3.48% | 3.39% | ||
Class I Shares | 12/30/08 | (7.95)% | (6.45)% | 2.93% | 7.24% | 2.47% | 2.39% |
Total Returns as of February 29, 2020* | |||||||||
Cumulative | Average Annual | Expense Ratios** | |||||||
Inception Date | 6-Month | 1-Year | 5-Year | Since Inception | Gross | Net | |||
Class A Shares at NAV | 6/17/13 | (9.37)% | (9.72)% | 0.47% | 1.80% | 2.61% | 2.54% | ||
Class A Shares at maximum Offering Price | 6/17/13 | (14.59)% | (14.91)% | (0.71)% | 0.90% | - | - | ||
ICE BofAML 3-Month U.S. Treasury Bill Index | - | 0.92% | 2.18% | 1.13% | 0.85% | - | - | ||
Lipper Alternative Equity Market Neutral Funds Classification Average | - | (2.87)% | (4.99)% | (2.10)% | 1.42% | - | - | ||
Class C Shares | 6/17/13 | (9.71)% | (10.38)% | (0.27)% | 1.05% | 3.37% | 3.30% | ||
Class I Shares | 6/17/13 | (9.24)% | (9.47)% | 0.72% | 2.06% | 2.37% | 2.30% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.6% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Banks | 11.3% |
Health Care Providers & Services | 10.4% |
Capital Markets | 7.5% |
Oil, Gas & Consumable Fuels | 5.0% |
Technology Hardware, Storage & Peripherals | 4.9% |
Insurance | 4.2% |
Diversified Telecommunication Services | 4.2% |
Biotechnology | 4.1% |
Machinery | 3.3% |
Airlines | 3.2% |
Consumer Finance | 3.0% |
Metals & Mining | 3.0% |
Semiconductors & Semiconductor Equipment | 2.9% |
Pharmaceuticals | 2.8% |
Automobiles | 2.6% |
Specialty Retail | 2.3% |
Media | 2.2% |
Household Durables | 2.2% |
Other | 19.5% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
AT&T Inc | 3.0% |
Intel Corp | 2.9% |
Bank of America Corp | 2.8% |
Wells Fargo & Co | 2.2% |
Citigroup Inc | 2.1% |
Fund Allocation (% of net assets) | |
Common Stocks | 99.9% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Health Care Providers & Services | 8.7% |
Technology Hardware, Storage & Peripherals | 8.7% |
Software | 8.0% |
Internet & Direct Marketing Retail | 5.5% |
Biotechnology | 5.2% |
Capital Markets | 5.1% |
Oil, Gas & Consumable Fuels | 4.5% |
Banks | 3.6% |
Interactive Media & Services | 3.6% |
IT Services | 3.3% |
Pharmaceuticals | 2.9% |
Consumer Finance | 2.8% |
Insurance | 2.7% |
Metals & Mining | 2.6% |
Diversified Telecommunication Services | 2.4% |
Entertainment | 2.1% |
Specialty Retail | 2.1% |
Real Estate Management & Development | 2.1% |
Containers & Packaging | 2.0% |
Automobiles | 1.9% |
Machinery | 1.5% |
Other | 18.6% |
Other Assets Less Liabilities | 0.1% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Microsoft Corp | 5.6% |
Apple Inc | 5.4% |
Alphabet Inc | 2.1% |
Amazon.com Inc | 2.1% |
Mastercard Inc | 2.0% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.7% |
Repurchase Agreements | 1.4% |
Other Assets Less Liabilities | (0.1)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Technology Hardware, Storage & Peripherals | 12.2% |
Software | 12.1% |
Health Care Providers & Services | 8.3% |
Internet & Direct Marketing Retail | 8.1% |
Interactive Media & Services | 7.3% |
Biotechnology | 7.0% |
IT Services | 5.3% |
Capital Markets | 3.3% |
Pharmaceuticals | 2.8% |
Semiconductors & Semiconductor Equipment | 2.5% |
Airlines | 2.4% |
Media | 2.3% |
Real Estate Management & Development | 2.0% |
Household Durables | 2.0% |
Insurance | 2.0% |
Other | 19.1% |
Repurchase Agreements | 1.4% |
Other Assets Less Liabilities | (0.1)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Microsoft Corp | 9.5% |
Apple Inc | 9.4% |
Alphabet Inc | 4.9% |
Amazon.com Inc | 3.8% |
Mastercard Inc | 2.8% |
Fund Allocation (% of net assets) | |
Long-Term Investments | |
Common Stocks | 122.5% |
Total Long Exposure | 122.5% |
Short-Term Investments | |
Repurchase Agreements | 57.0% |
Total Investments | 179.5% |
Securities Sold Short | |
Common Stocks Sold Short | (56.8)% |
Total Short Exposure | (56.8)% |
Other Assets Less Liabilities | (22.7)% |
Net Assets | 100% |
Top Five Holdings - Long Exposure (% of net assets) | |
Microsoft Corp | 4.4% |
Apple Inc | 3.7% |
Facebook Inc | 2.3% |
Mastercard Inc | 1.8% |
AT&T Inc | 1.8% |
Top Five Holdings - Short Exposure (% of net assets) | |
Grocery Outlet Holding Corp | (0.8)% |
Advance Auto Parts Inc | (0.8)% |
Quanta Services Inc | (0.8)% |
Ollie's Bargain Outlet Holdings Inc | (0.8)% |
PagerDuty Inc | (0.8)% |
Portfolio Composition Long Exposure (% of net assets) | |
Software | 14.2% |
Health Care Providers & Services | 8.3% |
Biotechnology | 7.7% |
IT Services | 6.1% |
Banks | 5.4% |
Technology Hardware, Storage & Peripherals | 5.2% |
Pharmaceuticals | 5.2% |
Capital Markets | 4.4% |
Interactive Media & Services | 3.7% |
Media | 3.6% |
Internet & Direct Marketing Retail | 3.4% |
Oil, Gas & Consumable Fuels | 3.3% |
Hotels, Restaurants & Leisure | 3.2% |
Semiconductors & Semiconductor Equipment | 3.1% |
Household Durables | 2.9% |
Entertainment | 2.4% |
Road & Rail | 2.3% |
Commercial Services & Supplies | 2.3% |
Real Estate Management & Development | 2.2% |
Building Products | 2.2% |
Diversified Financial Services | 2.1% |
Independent Power & Renewable Electricity Producers | 2.0% |
Machinery | 1.8% |
Specialty Retail | 1.8% |
Diversified Telecommunication Services | 1.8% |
Metals & Mining | 1.6% |
Equity Real Estate Investment Trust | 1.4% |
Other | 18.9% |
Total | 122.5% |
Portfolio Composition Short Exposure (% of net assets) | |
Software | (6.1)% |
Entertainment | (3.2)% |
Food Products | (2.9)% |
Chemicals | (2.5)% |
Hotels, Restaurants & Leisure | (2.5)% |
Health Care Equipment & Supplies | (2.5)% |
Specialty Retail | (2.2)% |
Multiline Retail | (2.2)% |
IT Services | (2.1)% |
Health Care Providers & Services | (1.7)% |
Road & Rail | (1.7)% |
Semiconductors & Semiconductor Equipment | (1.6)% |
Machinery | (1.5)% |
Commercial Services & Supplies | (1.5)% |
Electric Utilities | (1.4)% |
Electronic Equipment, Instruments & Components | (1.4)% |
Other | (19.8)% |
Total | (56.8)% |
Fund Allocation (% of net assets) | |
Long-Term Investments | |
Common Stocks | 88.6% |
Total Long Exposure | 88.6% |
Short-Term Investments | |
Repurchase Agreements | 24.7% |
Total Investments | 113.3% |
Securities Sold Short | |
Common Stocks Sold Short | (86.0)% |
Total Short Exposure | (86.0)% |
Other Assets Less Liabilities | 72.7% |
Net Assets | 100% |
Top Five Holdings - Long Exposure (% of net assets) | |
Booking Holdings Inc | 1.3% |
NortonLifeLock Inc | 1.0% |
Qorvo Inc | 1.0% |
CBRE Group Inc | 1.0% |
Cardinal Health Inc | 1.0% |
Top Five Holdings - Short Exposure (% of net assets) | |
Square Inc | (1.0)% |
Graham Holdings Co | (1.0)% |
Cree Inc | (1.0)% |
Sarepta Therapeutics Inc | (1.0)% |
Advance Auto Parts Inc | (1.0)% |
Portfolio Composition Long Exposure (% of net assets) | |
Software | 6.5% |
Health Care Providers & Services | 6.5% |
Oil, Gas & Consumable Fuels | 5.6% |
Technology Hardware, Storage & Peripherals | 4.4% |
Metals & Mining | 3.7% |
Machinery | 3.4% |
Insurance | 3.1% |
Internet & Direct Marketing Retail | 3.1% |
Capital Markets | 2.9% |
Media | 2.7% |
Containers & Packaging | 2.7% |
Household Durables | 2.7% |
IT Services | 2.7% |
Electronic Equipment, Instruments & Components | 2.6% |
Hotels, Restaurants & Leisure | 2.5% |
Banks | 2.2% |
Semiconductors & Semiconductor Equipment | 1.9% |
Real Estate Management & Development | 1.9% |
Construction & Engineering | 1.9% |
Pharmaceuticals | 1.8% |
Biotechnology | 1.8% |
Automobiles | 1.8% |
Electrical Equipment | 1.6% |
Other | 18.6% |
Total | 88.6% |
Portfolio Composition Short Exposure (% of net assets) | |
Software | (6.9)% |
Entertainment | (6.0)% |
Health Care Equipment & Supplies | (5.1)% |
Chemicals | (3.9)% |
Food Products | (3.7)% |
Electric Utilities | (3.5)% |
Road & Rail | (3.4)% |
Biotechnology | (3.2)% |
IT Services | (2.8)% |
Specialty Retail | (2.7)% |
Semiconductors & Semiconductor Equipment | (2.7)% |
Oil, Gas & Consumable Fuels | (2.7)% |
Multiline Retail | (2.7)% |
Energy Equipment & Services | (2.3)% |
Machinery | (2.0)% |
Electronic Equipment, Instruments & Components | (1.8)% |
Hotels, Restaurants & Leisure | (1.8)% |
Metals & Mining | (1.8)% |
Household Products | (1.7)% |
Multi-Utilities | (1.7)% |
Commercial Services & Supplies | (1.7)% |
Internet & Direct Marketing Retail | (1.7)% |
Health Care Providers & Services | (1.6)% |
Other | (18.6)% |
Total | (86.0)% |
Share Class | |||||
Class A | Class C | Class R3 | Class R6 | Class I | |
Actual Performance | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $969.36 | $965.78 | $967.57 | $969.40 | $970.40 |
Expenses Incurred During the Period | $4.90 | $8.55 | $6.12 | $3.33 | $3.67 |
Hypothetical Performance (5% annualized return before expenses) | |||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.89 | $1,016.16 | $1,018.65 | $1,021.48 | $1,021.13 |
Expenses Incurred During the Period | $5.02 | $8.77 | $6.27 | $3.42 | $3.77 |
Share Class | ||||
Class A | Class C | Class R6 | Class I | |
Actual Performance | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $981.29 | $977.96 | $983.02 | $982.85 |
Expenses Incurred During the Period | $4.83 | $8.51 | $3.25 | $3.60 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.99 | $1,016.26 | $1,021.58 | $1,021.23 |
Expenses Incurred During the Period | $4.92 | $8.67 | $3.32 | $3.67 |
Share Class | ||||
Class A | Class C | Class R6 | Class I | |
Actual Performance | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,032.04 | $1,028.05 | $1,031.21 | $1,033.16 |
Expenses Incurred During the Period | $5.00 | $8.77 | $3.38 | $3.74 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.94 | $1,016.21 | $1,021.53 | $1,021.18 |
Expenses Incurred During the Period | $4.97 | $8.72 | $3.37 | $3.72 |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $919.23 | $915.70 | $920.52 |
Expenses Incurred During the Period | $14.55 | $18.10 | $13.32 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,009.70 | $1,005.97 | $1,010.99 |
Expenses Incurred During the Period | $15.24 | $18.95 | $13.95 |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $906.25 | $902.94 | $907.58 |
Expenses Incurred During the Period | $14.17 | $17.74 | $13.04 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,010.00 | $1,006.22 | $1,011.19 |
Expenses Incurred During the Period | $14.94 | $18.71 | $13.75 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.6% | ||||||
COMMON STOCKS – 98.6% | ||||||
Air Freight & Logistics – 0.8% | ||||||
32,000 | XPO Logistics Inc, (2) | $2,367,040 | ||||
Airlines – 3.2% | ||||||
74,000 | Delta Air Lines Inc | 3,413,620 | ||||
68,000 | Southwest Airlines Co | 3,140,920 | ||||
48,000 | United Airlines Holdings Inc, (2) | 2,956,320 | ||||
Total Airlines | 9,510,860 | |||||
Automobiles – 2.6% | ||||||
533,000 | Ford Motor Co | 3,709,680 | ||||
136,000 | General Motors Co | 4,148,000 | ||||
Total Automobiles | 7,857,680 | |||||
Banks – 11.3% | ||||||
295,000 | Bank of America Corp | 8,407,500 | ||||
101,000 | Citigroup Inc | 6,409,460 | ||||
15,000 | Citizens Financial Group Inc | 475,350 | ||||
52,000 | JPMorgan Chase & Co | 6,037,720 | ||||
7,000 | PNC Financial Services Group Inc | 884,800 | ||||
63,000 | Popular Inc | 3,022,740 | ||||
164,000 | Wells Fargo & Co | 6,699,400 | ||||
39,000 | Western Alliance Bancorp | 1,795,560 | ||||
Total Banks | 33,732,530 | |||||
Biotechnology – 4.1% | ||||||
3,000 | Alexion Pharmaceuticals Inc, (2) | 282,090 | ||||
16,000 | Amgen Inc | 3,195,680 | ||||
13,000 | Biogen Inc, (2) | 4,009,070 | ||||
71,000 | Gilead Sciences Inc | 4,924,560 | ||||
Total Biotechnology | 12,411,400 | |||||
Building Products – 0.7% | ||||||
37,000 | Owens Corning | 2,090,130 | ||||
Capital Markets – 7.5% | ||||||
22,000 | Ameriprise Financial Inc | 3,108,600 | ||||
23,000 | Goldman Sachs Group Inc | 4,617,710 | ||||
62,000 | Legg Mason Inc | 3,088,840 | ||||
95,000 | Morgan Stanley | 4,277,850 | ||||
56,000 | State Street Corp | 3,814,160 |
Shares | Description (1) | Value | ||||
Capital Markets (continued) | ||||||
30,000 | T Rowe Price Group Inc | $3,540,300 | ||||
Total Capital Markets | 22,447,460 | |||||
Construction & Engineering – 1.1% | ||||||
75,000 | AECOM, (2) | 3,370,500 | ||||
Consumer Finance – 3.0% | ||||||
48,000 | Ally Financial Inc | 1,203,360 | ||||
48,000 | Capital One Financial Corp | 4,236,480 | ||||
14,000 | OneMain Holdings Inc | 514,500 | ||||
304,000 | SLM Corp | 3,152,480 | ||||
Total Consumer Finance | 9,106,820 | |||||
Containers & Packaging – 2.0% | ||||||
69,000 | Berry Global Group Inc, (2) | 2,619,240 | ||||
87,000 | International Paper Co | 3,215,520 | ||||
Total Containers & Packaging | 5,834,760 | |||||
Diversified Consumer Services – 0.1% | ||||||
21,000 | H&R Block Inc | 434,070 | ||||
Diversified Financial Services – 1.2% | ||||||
17,000 | Berkshire Hathaway Inc, (2) | 3,507,780 | ||||
Diversified Telecommunication Services – 4.2% | �� | |||||
257,000 | AT&T Inc | 9,051,540 | ||||
282,000 | CenturyLink Inc | 3,403,740 | ||||
Total Diversified Telecommunication Services | 12,455,280 | |||||
Electrical Equipment – 1.0% | ||||||
39,000 | Regal Beloit Corp | 3,027,960 | ||||
Electronic Equipment, Instruments & Components – 1.0% | ||||||
93,000 | Jabil Inc | 2,980,650 | ||||
Health Care Providers & Services – 10.4% | ||||||
4,900 | AmerisourceBergen Corp | 413,168 | ||||
16,000 | Anthem Inc | 4,113,440 | ||||
69,000 | Cardinal Health Inc | 3,596,280 | ||||
22,000 | Cigna Corp | 4,024,680 | ||||
84,000 | CVS Health Corp | 4,971,120 | ||||
42,000 | DaVita Inc, (2) | 3,260,040 | ||||
26,000 | HCA Inc | 3,302,260 | ||||
12,000 | Humana Inc | 3,836,160 | ||||
25,000 | McKesson Corp | 3,496,500 | ||||
Total Health Care Providers & Services | 31,013,648 |
Shares | Description (1) | Value | ||||
Household Durables – 2.2% | ||||||
63,000 | DR Horton Inc | $3,356,010 | ||||
25,000 | Whirlpool Corp | 3,196,500 | ||||
Total Household Durables | 6,552,510 | |||||
Independent Power & Renewable Electricity Producers – 1.1% | ||||||
163,000 | Vistra Energy Corp | 3,134,490 | ||||
Industrial Conglomerates – 1.0% | ||||||
21,000 | Carlisle Cos Inc | 3,051,090 | ||||
Insurance – 4.2% | ||||||
60,000 | Aflac Inc | 2,571,000 | ||||
77,000 | Assured Guaranty Ltd | 3,142,370 | ||||
10,000 | Athene Holding Ltd, (2) | 412,500 | ||||
62,000 | Lincoln National Corp | 2,814,180 | ||||
88,000 | MetLife Inc | 3,759,360 | ||||
Total Insurance | 12,699,410 | |||||
Internet & Direct Marketing Retail – 2.0% | ||||||
86,000 | eBay Inc | 2,979,040 | ||||
31,000 | Expedia Group Inc | 3,057,220 | ||||
Total Internet & Direct Marketing Retail | 6,036,260 | |||||
IT Services – 0.9% | ||||||
39,000 | Booz Allen Hamilton Holding Corp | 2,780,700 | ||||
Machinery – 3.3% | ||||||
23,000 | Cummins Inc | 3,479,670 | ||||
51,000 | PACCAR Inc | 3,411,900 | ||||
65,000 | Timken Co | 2,914,600 | ||||
Total Machinery | 9,806,170 | |||||
Media – 2.2% | ||||||
128,000 | Discovery Inc, (2) | 3,289,600 | ||||
48,000 | Omnicom Group Inc | 3,325,440 | ||||
Total Media | 6,615,040 | |||||
Metals & Mining – 3.0% | ||||||
66,000 | Nucor Corp | 2,729,100 | ||||
30,000 | Reliance Steel & Aluminum Co | 3,068,700 | ||||
123,000 | Steel Dynamics Inc | 3,275,490 | ||||
Total Metals & Mining | 9,073,290 | |||||
Multiline Retail – 1.4% | ||||||
41,000 | Target Corp | 4,223,000 | ||||
Oil, Gas & Consumable Fuels – 5.0% | ||||||
102,000 | CONSOL Energy Inc, (2) | 580,380 |
Shares | Description (1) | Value | ||||
Oil, Gas & Consumable Fuels (continued) | ||||||
547,000 | EQT Corp | $3,210,890 | ||||
474,000 | Extraction Oil & Gas Inc, (2) | 326,349 | ||||
378,000 | Gulfport Energy Corp, (2) | 309,809 | ||||
528,000 | Kosmos Energy Ltd | 1,610,400 | ||||
43,000 | Parsley Energy Inc | 576,200 | ||||
1,076,000 | Range Resources Corp | 2,980,520 | ||||
48,000 | Valero Energy Corp | 3,180,000 | ||||
222,000 | WPX Energy Inc, (2) | 2,071,260 | ||||
Total Oil, Gas & Consumable Fuels | 14,845,808 | |||||
Paper & Forest Products – 0.5% | ||||||
55,000 | Domtar Corp | 1,582,350 | ||||
Personal Products – 0.3% | ||||||
31,000 | Herbalife Nutrition Ltd, (2) | 1,003,160 | ||||
Pharmaceuticals – 2.8% | ||||||
73,000 | Bristol-Myers Squibb Co | 4,311,380 | ||||
26,000 | Jazz Pharmaceuticals PLC, (2) | 2,979,080 | ||||
9,000 | Johnson & Johnson | 1,210,320 | ||||
Total Pharmaceuticals | 8,500,780 | |||||
Professional Services – 1.0% | ||||||
40,000 | ManpowerGroup Inc | 3,037,600 | ||||
Real Estate Management & Development – 1.4% | ||||||
60,000 | CBRE Group Inc, (2) | 3,368,400 | ||||
6,000 | Jones Lang LaSalle Inc | 886,620 | ||||
Total Real Estate Management & Development | 4,255,020 | |||||
Semiconductors & Semiconductor Equipment – 2.9% | ||||||
156,000 | Intel Corp | 8,661,120 | ||||
Specialty Retail – 2.3% | ||||||
46,000 | Best Buy Co Inc | 3,479,900 | ||||
31,000 | Murphy USA Inc, (2) | 3,022,500 | ||||
5,000 | Williams-Sonoma Inc | 311,950 | ||||
Total Specialty Retail | 6,814,350 | |||||
Technology Hardware, Storage & Peripherals – 4.9% | ||||||
72,000 | Dell Technologies Inc, (2) | 2,913,120 | ||||
265,000 | Hewlett Packard Enterprise Co | 3,389,350 | ||||
183,000 | HP Inc | 3,804,570 | ||||
58,000 | NCR Corp, (2) | 1,461,600 | ||||
96,000 | Xerox Holdings Corp | 3,091,200 | ||||
Total Technology Hardware, Storage & Peripherals | 14,659,840 |
Shares | Description (1) | Value | ||||
Thrifts & Mortgage Finance – 1.1% | ||||||
272,000 | MGIC Investment Corp | $3,272,160 | ||||
Wireless Telecommunication Services – 0.9% | ||||||
132,000 | Telephone & Data Systems Inc | 2,658,480 | ||||
Total Long-Term Investments (cost $315,496,930) | 295,411,196 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.3% | ||||||
REPURCHASE AGREEMENTS – 1.3% | ||||||
$3,759 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/20, repurchase price $3,759,521, collateralized by $3,055,000 U.S. Treasury Bonds, 3.000%, due 11/15/45, value $3,840,434 | 0.650% | 3/02/20 | $3,759,317 | ||
Total Short-Term Investments (cost $3,759,317) | 3,759,317 | |||||
Total Investments (cost $319,256,247) – 99.9% | 299,170,513 | |||||
Other Assets Less Liabilities – 0.1% | 405,570 | |||||
Net Assets – 100% | $299,576,083 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.9% | ||||||
COMMON STOCKS – 99.9% | ||||||
Aerospace & Defense – 0.3% | ||||||
35,000 | Spirit AeroSystems Holdings Inc | $1,849,400 | ||||
Air Freight & Logistics – 0.9% | ||||||
78,000 | XPO Logistics Inc, (2) | 5,769,660 | ||||
Airlines – 1.0% | ||||||
142,000 | Southwest Airlines Co | 6,558,980 | ||||
Automobiles – 1.9% | ||||||
616,000 | Ford Motor Co | 4,287,360 | ||||
258,000 | General Motors Co | 7,869,000 | ||||
Total Automobiles | 12,156,360 | |||||
Banks – 3.6% | ||||||
418,000 | Bank of America Corp | 11,913,000 | ||||
24,000 | JPMorgan Chase & Co | 2,786,640 | ||||
50,000 | Popular Inc | 2,399,000 | ||||
132,000 | Western Alliance Bancorp | 6,077,280 | ||||
Total Banks | 23,175,920 | |||||
Biotechnology – 5.2% | ||||||
117,000 | AbbVie Inc | 10,028,070 | ||||
45,000 | Amgen Inc | 8,987,850 | ||||
25,000 | Biogen Inc, (2) | 7,709,750 | ||||
89,000 | Incyte Corp, (2) | 6,711,490 | ||||
Total Biotechnology | 33,437,160 | |||||
Building Products – 0.5% | ||||||
69,000 | Masco Corp | 2,851,080 | ||||
Capital Markets – 5.1% | ||||||
93,000 | Evercore Inc | 6,195,660 | ||||
75,000 | Legg Mason Inc | 3,736,500 | ||||
78,000 | LPL Financial Holdings Inc | 6,199,440 | ||||
30,000 | S&P Global Inc | 7,977,300 | ||||
20,000 | State Street Corp | 1,362,200 | ||||
62,000 | T Rowe Price Group Inc | 7,316,620 | ||||
Total Capital Markets | 32,787,720 | |||||
Construction & Engineering – 1.2% | ||||||
51,000 | AECOM, (2) | 2,291,940 |
Shares | Description (1) | Value | ||||
Construction & Engineering (continued) | ||||||
129,000 | Arcosa Inc | $5,541,840 | ||||
Total Construction & Engineering | 7,833,780 | |||||
Consumer Finance – 2.8% | ||||||
84,000 | Capital One Financial Corp | 7,413,840 | ||||
341,000 | Navient Corp | 3,829,430 | ||||
655,000 | SLM Corp | 6,792,350 | ||||
Total Consumer Finance | 18,035,620 | |||||
Containers & Packaging – 2.0% | ||||||
165,000 | Berry Global Group Inc, (2) | 6,263,400 | ||||
181,000 | International Paper Co | 6,689,760 | ||||
Total Containers & Packaging | 12,953,160 | |||||
Diversified Financial Services – 0.6% | ||||||
17,000 | Berkshire Hathaway Inc, (2) | 3,507,780 | ||||
Diversified Telecommunication Services – 2.4% | ||||||
350,000 | AT&T Inc | 12,327,000 | ||||
255,000 | CenturyLink Inc | 3,077,850 | ||||
Total Diversified Telecommunication Services | 15,404,850 | |||||
Electrical Equipment – 1.2% | ||||||
162,000 | GrafTech International Ltd | 1,321,920 | ||||
81,000 | Regal Beloit Corp | 6,288,840 | ||||
Total Electrical Equipment | 7,610,760 | |||||
Electronic Equipment, Instruments & Components – 1.0% | ||||||
193,000 | Jabil Inc | 6,185,650 | ||||
Entertainment – 2.1% | ||||||
70,000 | Electronic Arts Inc, (2) | 7,095,900 | ||||
969,000 | Zynga Inc, (2) | 6,501,990 | ||||
Total Entertainment | 13,597,890 | |||||
Health Care Providers & Services – 8.7% | ||||||
83,000 | AmerisourceBergen Corp | 6,998,560 | ||||
32,000 | Anthem Inc | 8,226,880 | ||||
140,000 | Cardinal Health Inc | 7,296,800 | ||||
87,000 | DaVita Inc, (2) | 6,752,940 | ||||
23,000 | Humana Inc | 7,352,640 | ||||
50,000 | McKesson Corp | 6,993,000 | ||||
47,000 | UnitedHealth Group Inc | 11,983,120 | ||||
Total Health Care Providers & Services | 55,603,940 | |||||
Hotels, Restaurants & Leisure – 0.7% | ||||||
43,000 | Hilton Worldwide Holdings Inc | 4,179,600 |
Shares | Description (1) | Value | ||||
Household Durables – 1.5% | ||||||
123,000 | DR Horton Inc | $6,552,210 | ||||
24,000 | Whirlpool Corp | 3,068,640 | ||||
Total Household Durables | 9,620,850 | |||||
Independent Power & Renewable Electricity Producers – 1.0% | ||||||
344,000 | Vistra Energy Corp | 6,615,120 | ||||
Industrial Conglomerates – 1.1% | ||||||
46,000 | Carlisle Cos Inc | 6,683,340 | ||||
Insurance – 2.7% | ||||||
57,000 | Assured Guaranty Ltd | 2,326,170 | ||||
53,000 | Athene Holding Ltd, (2) | 2,186,250 | ||||
120,000 | Lincoln National Corp | 5,446,800 | ||||
169,000 | MetLife Inc | 7,219,680 | ||||
Total Insurance | 17,178,900 | |||||
Interactive Media & Services – 3.6% | ||||||
10,000 | Alphabet Inc, (2) | 13,392,500 | ||||
48,000 | Facebook Inc, (2) | 9,238,560 | ||||
Total Interactive Media & Services | 22,631,060 | |||||
Internet & Direct Marketing Retail – 5.5% | ||||||
7,000 | Amazon.com Inc, (2) | 13,186,250 | ||||
5,000 | Booking Holdings Inc, (2) | 8,478,300 | ||||
201,000 | eBay Inc | 6,962,640 | ||||
65,000 | Expedia Group Inc | 6,410,300 | ||||
Total Internet & Direct Marketing Retail | 35,037,490 | |||||
IT Services – 3.3% | ||||||
93,000 | Booz Allen Hamilton Holding Corp | 6,630,900 | ||||
44,000 | Mastercard Inc | 12,771,000 | ||||
8,000 | Visa Inc | 1,454,080 | ||||
Total IT Services | 20,855,980 | |||||
Machinery – 1.5% | ||||||
45,000 | Cummins Inc | 6,808,050 | ||||
63,000 | Timken Co | 2,824,920 | ||||
Total Machinery | 9,632,970 | |||||
Media – 1.0% | ||||||
64,000 | AMC Networks Inc, (2) | 1,984,000 | ||||
170,000 | Discovery Inc, (2) | 4,369,000 | ||||
Total Media | 6,353,000 | |||||
Metals & Mining – 2.6% | ||||||
65,000 | Nucor Corp | 2,687,750 | ||||
67,000 | Reliance Steel & Aluminum Co | 6,853,430 |
Shares | Description (1) | Value | ||||
Metals & Mining (continued) | ||||||
263,000 | Steel Dynamics Inc | $7,003,690 | ||||
Total Metals & Mining | 16,544,870 | |||||
Multiline Retail – 1.2% | ||||||
72,000 | Target Corp | 7,416,000 | ||||
Oil, Gas & Consumable Fuels – 4.5% | ||||||
1,299,000 | EQT Corp | 7,625,130 | ||||
1,547,000 | Extraction Oil & Gas Inc, (2) | 1,065,109 | ||||
523,000 | Gulfport Energy Corp, (2) | 428,651 | ||||
279,000 | Kosmos Energy Ltd | 850,950 | ||||
447,000 | Parsley Energy Inc | 5,989,800 | ||||
2,335,000 | Range Resources Corp | 6,467,950 | ||||
670,000 | WPX Energy Inc, (2) | 6,251,100 | ||||
Total Oil, Gas & Consumable Fuels | 28,678,690 | |||||
Paper & Forest Products – 0.5% | ||||||
112,000 | Domtar Corp | 3,222,240 | ||||
Personal Products – 0.2% | ||||||
42,000 | Herbalife Nutrition Ltd, (2) | 1,359,120 | ||||
Pharmaceuticals – 2.9% | ||||||
162,000 | Bristol-Myers Squibb Co | 9,567,720 | ||||
58,000 | Jazz Pharmaceuticals PLC, (2) | 6,645,640 | ||||
18,000 | Johnson & Johnson | 2,420,640 | ||||
Total Pharmaceuticals | 18,634,000 | |||||
Professional Services – 1.0% | ||||||
82,000 | ManpowerGroup Inc | 6,227,080 | ||||
Real Estate Management & Development – 2.1% | ||||||
121,000 | CBRE Group Inc, (2) | 6,792,940 | ||||
45,000 | Jones Lang LaSalle Inc | 6,649,650 | ||||
Total Real Estate Management & Development | 13,442,590 | |||||
Road & Rail – 0.2% | ||||||
12,000 | Landstar System Inc | 1,211,640 | ||||
Semiconductors & Semiconductor Equipment – 1.5% | ||||||
119,000 | QUALCOMM Inc | 9,317,700 | ||||
Software – 8.0% | ||||||
67,000 | Fortinet Inc, (2) | 6,838,020 | ||||
219,000 | Microsoft Corp | 35,480,190 | ||||
174,000 | Oracle Corp | 8,606,040 | ||||
Total Software | 50,924,250 |
Shares | Description (1) | Value | ||||
Specialty Retail – 2.1% | ||||||
89,000 | Best Buy Co Inc | $6,732,850 | ||||
70,000 | Murphy USA Inc, (2) | 6,825,000 | ||||
Total Specialty Retail | 13,557,850 | |||||
Technology Hardware, Storage & Peripherals – 8.7% | ||||||
127,000 | Apple Inc | 34,716,720 | ||||
147,000 | Dell Technologies Inc, (2) | 5,947,620 | ||||
536,000 | Hewlett Packard Enterprise Co | 6,855,440 | ||||
329,000 | HP Inc | 6,839,910 | ||||
31,000 | Xerox Holdings Corp | 998,200 | ||||
Total Technology Hardware, Storage & Peripherals | 55,357,890 | |||||
Thrifts & Mortgage Finance – 1.1% | ||||||
584,000 | MGIC Investment Corp | 7,025,520 | ||||
Wireless Telecommunication Services – 0.9% | ||||||
291,000 | Telephone & Data Systems Inc | 5,860,740 | ||||
Total Long-Term Investments (cost $624,023,019) | 636,888,200 | |||||
Other Assets Less Liabilities – 0.1% | 746,312 | |||||
Net Assets – 100% | $637,634,512 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.7% | ||||||
COMMON STOCKS – 98.7% | ||||||
Aerospace & Defense – 1.0% | ||||||
45,000 | Spirit AeroSystems Holdings Inc | $2,377,800 | ||||
Air Freight & Logistics – 0.9% | ||||||
31,000 | XPO Logistics Inc, (2) | 2,293,070 | ||||
Airlines – 2.4% | ||||||
22,000 | Delta Air Lines Inc | 1,014,860 | ||||
57,000 | Southwest Airlines Co | 2,632,830 | ||||
38,000 | United Airlines Holdings Inc, (2) | 2,340,420 | ||||
Total Airlines | 5,988,110 | |||||
Banks – 0.9% | ||||||
50,000 | Western Alliance Bancorp | 2,302,000 | ||||
Biotechnology – 7.0% | ||||||
56,000 | AbbVie Inc | 4,799,760 | ||||
21,000 | Amgen Inc | 4,194,330 | ||||
9,000 | Biogen Inc, (2) | 2,775,510 | ||||
37,000 | Gilead Sciences Inc | 2,566,320 | ||||
37,000 | Incyte Corp, (2) | 2,790,170 | ||||
Total Biotechnology | 17,126,090 | |||||
Capital Markets – 3.3% | ||||||
16,000 | Ameriprise Financial Inc | 2,260,800 | ||||
35,000 | Evercore Inc | 2,331,700 | ||||
32,000 | LPL Financial Holdings Inc | 2,543,360 | ||||
4,000 | S&P Global Inc | 1,063,640 | ||||
Total Capital Markets | 8,199,500 | |||||
Commercial Services & Supplies – 1.0% | ||||||
9,000 | Cintas Corp | 2,400,660 | ||||
Construction Materials – 1.0% | ||||||
31,000 | Eagle Materials Inc | 2,446,830 | ||||
Containers & Packaging – 1.0% | ||||||
7,000 | Berry Global Group Inc, (2) | 265,720 | ||||
60,000 | International Paper Co | 2,217,600 | ||||
Total Containers & Packaging | 2,483,320 |
Shares | Description (1) | Value | ||||
Diversified Consumer Services – 1.0% | ||||||
119,000 | H&R Block Inc | $2,459,730 | ||||
Electronic Equipment, Instruments & Components – 0.9% | ||||||
70,000 | Jabil Inc | 2,243,500 | ||||
Entertainment – 1.1% | ||||||
382,000 | Zynga Inc, (2) | 2,563,220 | ||||
Equity Real Estate Investment Trust – 0.7% | ||||||
8,000 | American Tower Corp | 1,814,400 | ||||
Food & Staples Retailing – 0.3% | ||||||
3,000 | Costco Wholesale Corp | 843,420 | ||||
Health Care Providers & Services – 8.3% | ||||||
32,000 | AmerisourceBergen Corp | 2,698,240 | ||||
7,551 | Cardinal Health Inc | 393,558 | ||||
16,000 | Cigna Corp | 2,927,040 | ||||
20,000 | HCA Inc | 2,540,200 | ||||
9,000 | Humana Inc | 2,877,120 | ||||
17,000 | McKesson Corp | 2,377,620 | ||||
26,000 | UnitedHealth Group Inc | 6,628,960 | ||||
Total Health Care Providers & Services | 20,442,738 | |||||
Hotels, Restaurants & Leisure – 0.9% | ||||||
89,000 | MGM Resorts International | 2,185,840 | ||||
2,000 | Wyndham Hotels & Resorts Inc | 101,900 | ||||
Total Hotels, Restaurants & Leisure | 2,287,740 | |||||
Household Durables – 2.0% | ||||||
59,000 | PulteGroup Inc | 2,371,800 | ||||
33,000 | Tempur Sealy International Inc, (2) | 2,466,750 | ||||
Total Household Durables | 4,838,550 | |||||
Industrial Conglomerates – 1.1% | ||||||
19,000 | Carlisle Cos Inc | 2,760,510 | ||||
Insurance – 2.0% | ||||||
60,000 | Athene Holding Ltd, (2) | 2,475,000 | ||||
21,000 | Primerica Inc | 2,338,140 | ||||
Total Insurance | 4,813,140 | |||||
Interactive Media & Services – 7.3% | ||||||
9,000 | Alphabet Inc, (2) | 12,053,250 | ||||
30,000 | Facebook Inc, (2) | 5,774,100 | ||||
Total Interactive Media & Services | 17,827,350 |
Shares | Description (1) | Value | ||||
Internet & Direct Marketing Retail – 8.1% | ||||||
5,000 | Amazon.com Inc, (2) | $9,418,750 | ||||
3,000 | Booking Holdings Inc, (2) | 5,086,980 | ||||
86,000 | eBay Inc | 2,979,040 | ||||
25,000 | Expedia Group Inc | 2,465,500 | ||||
Total Internet & Direct Marketing Retail | 19,950,270 | |||||
IT Services – 5.3% | ||||||
36,000 | Booz Allen Hamilton Holding Corp | 2,566,800 | ||||
24,000 | Mastercard Inc | 6,966,000 | ||||
19,000 | Visa Inc | 3,453,440 | ||||
Total IT Services | 12,986,240 | |||||
Machinery – 1.0% | ||||||
7,000 | Allison Transmission Holdings Inc | 284,200 | ||||
15,000 | Cummins Inc | 2,269,350 | ||||
Total Machinery | 2,553,550 | |||||
Media – 2.3% | ||||||
10,000 | AMC Networks Inc, (2) | 310,000 | ||||
120,000 | Interpublic Group of Cos Inc | 2,563,200 | ||||
38,000 | Omnicom Group Inc | 2,632,640 | ||||
Total Media | 5,505,840 | |||||
Metals & Mining – 0.9% | ||||||
80,000 | Steel Dynamics Inc | 2,130,400 | ||||
Multiline Retail – 1.1% | ||||||
25,000 | Target Corp | 2,575,000 | ||||
Oil, Gas & Consumable Fuels – 1.2% | ||||||
55,000 | EQT Corp | 322,850 | ||||
40,000 | Gulfport Energy Corp, (2) | 32,784 | ||||
193,000 | Parsley Energy Inc | 2,586,200 | ||||
Total Oil, Gas & Consumable Fuels | 2,941,834 | |||||
Personal Products – 0.3% | ||||||
23,000 | Herbalife Nutrition Ltd, (2) | 744,280 | ||||
Pharmaceuticals – 2.8% | ||||||
64,000 | Bristol-Myers Squibb Co | 3,779,840 | ||||
20,000 | Jazz Pharmaceuticals PLC, (2) | 2,291,600 | ||||
9,000 | Merck & Co Inc | 689,040 | ||||
Total Pharmaceuticals | 6,760,480 | |||||
Real Estate Management & Development – 2.0% | ||||||
47,000 | CBRE Group Inc, (2) | 2,638,580 | ||||
16,000 | Jones Lang LaSalle Inc | 2,364,320 | ||||
Total Real Estate Management & Development | 5,002,900 |
Shares | Description (1) | Value | ||||
Road & Rail – 1.1% | ||||||
26,000 | Landstar System Inc | $2,625,220 | ||||
Semiconductors & Semiconductor Equipment – 2.5% | ||||||
99,000 | ON Semiconductor Corp, (2) | 1,847,340 | ||||
53,000 | QUALCOMM Inc | 4,149,900 | ||||
Total Semiconductors & Semiconductor Equipment | 5,997,240 | |||||
Software – 12.1% | ||||||
1,000 | Adobe Inc, (2) | 345,120 | ||||
9,000 | Dynatrace Inc, (2) | 290,700 | ||||
27,000 | Fortinet Inc, (2) | 2,755,620 | ||||
143,000 | Microsoft Corp | 23,167,430 | ||||
62,000 | Oracle Corp | 3,066,520 | ||||
Total Software | 29,625,390 | |||||
Specialty Retail – 1.7% | ||||||
33,000 | Best Buy Co Inc | 2,496,450 | ||||
25,000 | Williams-Sonoma Inc | 1,559,750 | ||||
Total Specialty Retail | 4,056,200 | |||||
Technology Hardware, Storage & Peripherals – 12.2% | ||||||
84,000 | Apple Inc | 22,962,240 | ||||
59,000 | Dell Technologies Inc, (2) | 2,387,140 | ||||
122,000 | HP Inc | 2,536,380 | ||||
84,000 | NCR Corp, (2) | 2,116,800 | ||||
Total Technology Hardware, Storage & Peripherals | 30,002,560 | |||||
Total Long-Term Investments (cost $185,840,064) | 241,969,082 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.4% | ||||||
REPURCHASE AGREEMENTS – 1.4% | ||||||
$3,417 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/20, repurchase price $3,417,363, collateralized by $3,005,000 U.S. Treasury Notes, 3.125%, due 11/15/28, value $3,490,190 | 0.650% | 3/02/20 | $3,417,178 | ||
Total Short-Term Investments (cost $3,417,178) | 3,417,178 | |||||
Total Investments (cost $189,257,242) – 100.1% | 245,386,260 | |||||
Other Assets Less Liabilities – (0.1)% | (283,089) | |||||
Net Assets – 100% | $245,103,171 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 122.5% | ||||||
COMMON STOCKS – 122.5% | ||||||
Air Freight & Logistics – 1.0% | ||||||
31,700 | XPO Logistics Inc, (2) | $2,344,849 | ||||
Airlines – 0.9% | ||||||
49,500 | Delta Air Lines Inc | 2,283,435 | ||||
Banks – 5.4% | ||||||
144,000 | Bank of America Corp | 4,104,000 | ||||
51,400 | Citigroup Inc | 3,261,844 | ||||
28,800 | JPMorgan Chase & Co | 3,343,968 | ||||
51,500 | Western Alliance Bancorp | 2,371,060 | ||||
Total Banks | 13,080,872 | |||||
Beverages – 1.2% | ||||||
45,400 | Monster Beverage Corp, (2) | 2,833,414 | ||||
Biotechnology – 7.7% | ||||||
40,500 | AbbVie Inc | 3,471,255 | ||||
16,500 | Amgen Inc | 3,295,545 | ||||
9,900 | Biogen Inc, (2) | 3,053,061 | ||||
47,000 | Gilead Sciences Inc | 3,259,920 | ||||
32,200 | Incyte Corp, (2) | 2,428,202 | ||||
14,000 | Vertex Pharmaceuticals Inc, (2) | 3,136,420 | ||||
Total Biotechnology | 18,644,403 | |||||
Building Products – 2.2% | ||||||
43,000 | Fortune Brands Home & Security Inc | 2,655,250 | ||||
46,600 | Owens Corning | 2,632,434 | ||||
Total Building Products | 5,287,684 | |||||
Capital Markets – 4.4% | ||||||
56,000 | Legg Mason Inc | 2,789,920 | ||||
32,700 | LPL Financial Holdings Inc | 2,598,996 | ||||
56,000 | Morgan Stanley | 2,521,680 | ||||
9,800 | S&P Global Inc | 2,605,918 | ||||
Total Capital Markets | 10,516,514 | |||||
Commercial Services & Supplies – 2.3% | ||||||
421,000 | ADT Inc | 2,690,190 | ||||
10,500 | Cintas Corp | 2,800,770 | ||||
Total Commercial Services & Supplies | 5,490,960 |
Shares | Description (1) | Value | ||||
Communications Equipment – 1.1% | ||||||
73,000 | EchoStar Corp, (2) | $2,549,160 | ||||
Construction & Engineering – 1.1% | ||||||
59,500 | AECOM, (2) | 2,673,930 | ||||
Construction Materials – 1.1% | ||||||
35,000 | Eagle Materials Inc | 2,762,550 | ||||
Consumer Finance – 0.8% | ||||||
22,100 | Capital One Financial Corp | 1,950,546 | ||||
Containers & Packaging – 1.1% | ||||||
69,000 | Berry Global Group Inc, (2) | 2,619,240 | ||||
Diversified Consumer Services – 1.1% | ||||||
60,000 | frontdoor Inc, (2) | 2,544,000 | ||||
Diversified Financial Services – 2.1% | ||||||
134,000 | Jefferies Financial Group Inc | 2,641,140 | ||||
45,700 | Voya Financial Inc | 2,405,648 | ||||
Total Diversified Financial Services | 5,046,788 | |||||
Diversified Telecommunication Services – 1.8% | ||||||
122,000 | AT&T Inc | 4,296,840 | ||||
Electrical Equipment – 1.1% | ||||||
33,500 | Regal Beloit Corp | 2,600,940 | ||||
Electronic Equipment, Instruments & Components – 0.8% | ||||||
60,000 | Jabil Inc | 1,923,000 | ||||
Entertainment – 2.4% | ||||||
28,100 | Electronic Arts Inc, (2) | 2,848,497 | ||||
424,000 | Zynga Inc, (2) | 2,845,040 | ||||
Total Entertainment | 5,693,537 | |||||
Equity Real Estate Investment Trust – 1.4% | ||||||
14,550 | American Tower Corp | 3,299,940 | ||||
Food & Staples Retailing – 1.3% | ||||||
10,800 | Costco Wholesale Corp | 3,036,312 | ||||
Health Care Providers & Services – 8.3% | ||||||
6,225 | Chemed Corp | 2,599,685 | ||||
17,400 | Cigna Corp | 3,183,156 | ||||
34,700 | DaVita Inc, (2) | 2,693,414 | ||||
8,600 | Humana Inc | 2,749,248 | ||||
17,500 | McKesson Corp | 2,447,550 |
Shares | Description (1) | Value | ||||
Health Care Providers & Services (continued) | ||||||
18,000 | Molina Healthcare Inc, (2) | $2,205,900 | ||||
16,300 | UnitedHealth Group Inc | 4,155,848 | ||||
Total Health Care Providers & Services | 20,034,801 | |||||
Hotels, Restaurants & Leisure – 3.2% | ||||||
28,700 | Hilton Worldwide Holdings Inc | 2,789,640 | ||||
101,000 | MGM Resorts International | 2,480,560 | ||||
61,000 | Wyndham Destinations Inc | 2,433,900 | ||||
Total Hotels, Restaurants & Leisure | 7,704,100 | |||||
Household Durables – 2.9% | ||||||
116,000 | Newell Brands Inc | 1,789,880 | ||||
66,500 | PulteGroup Inc | 2,673,300 | ||||
19,800 | Whirlpool Corp | 2,531,628 | ||||
Total Household Durables | 6,994,808 | |||||
Household Products – 1.1% | ||||||
51,000 | Spectrum Brands Holdings Inc | 2,748,390 | ||||
Independent Power & Renewable Electricity Producers – 2.0% | ||||||
73,000 | NRG Energy Inc | 2,424,330 | ||||
125,000 | Vistra Energy Corp | 2,403,750 | ||||
Total Independent Power & Renewable Electricity Producers | 4,828,080 | |||||
Industrial Conglomerates – 1.1% | ||||||
19,000 | Carlisle Cos Inc | 2,760,510 | ||||
Insurance – 1.0% | ||||||
22,500 | Primerica Inc | 2,505,150 | ||||
Interactive Media & Services – 3.7% | ||||||
2,500 | Alphabet Inc, (2) | 3,348,125 | ||||
28,800 | Facebook Inc, (2) | 5,543,136 | ||||
Total Interactive Media & Services | 8,891,261 | |||||
Internet & Direct Marketing Retail – 3.4% | ||||||
1,450 | Amazon.com Inc, (2) | 2,731,438 | ||||
1,725 | Booking Holdings Inc, (2) | 2,925,013 | ||||
71,500 | eBay Inc | 2,476,760 | ||||
Total Internet & Direct Marketing Retail | 8,133,211 | |||||
IT Services – 6.1% | ||||||
37,300 | Booz Allen Hamilton Holding Corp | 2,659,490 | ||||
11,300 | CACI International Inc, (2) | 2,768,726 | ||||
9,500 | FleetCor Technologies Inc, (2) | 2,525,005 | ||||
15,100 | Mastercard Inc | 4,382,775 | ||||
13,700 | Visa Inc | 2,490,112 | ||||
Total IT Services | 14,826,108 |
Shares | Description (1) | Value | ||||
Leisure Products – 0.7% | ||||||
32,000 | Brunswick Corp | $1,702,400 | ||||
Machinery – 1.8% | ||||||
13,600 | Cummins Inc | 2,057,544 | ||||
53,500 | Timken Co | 2,398,940 | ||||
Total Machinery | 4,456,484 | |||||
Media – 3.6% | ||||||
93,000 | Comcast Corp | 3,759,990 | ||||
105,000 | Interpublic Group of Cos Inc | 2,242,800 | ||||
40,200 | Omnicom Group Inc | 2,785,056 | ||||
Total Media | 8,787,846 | |||||
Metals & Mining – 1.6% | ||||||
26,000 | Reliance Steel & Aluminum Co | 2,659,540 | ||||
48,000 | Steel Dynamics Inc | 1,278,240 | ||||
Total Metals & Mining | 3,937,780 | |||||
Multiline Retail – 1.2% | ||||||
29,000 | Target Corp | 2,987,000 | ||||
Oil, Gas & Consumable Fuels – 3.3% | ||||||
54,500 | ConocoPhillips | 2,638,890 | ||||
63,000 | Devon Energy Corp | 1,023,120 | ||||
175,000 | Parsley Energy Inc | 2,345,000 | ||||
215,000 | WPX Energy Inc, (2) | 2,005,950 | ||||
Total Oil, Gas & Consumable Fuels | 8,012,960 | |||||
Pharmaceuticals – 5.2% | ||||||
13,600 | Allergan PLC | 2,593,112 | ||||
59,500 | Bristol-Myers Squibb Co | 3,514,070 | ||||
25,000 | Jazz Pharmaceuticals PLC, (2) | 2,864,500 | ||||
46,700 | Merck & Co Inc | 3,575,352 | ||||
Total Pharmaceuticals | 12,547,034 | |||||
Professional Services – 1.2% | ||||||
32,200 | TransUnion | 2,863,224 | ||||
Real Estate Management & Development – 2.2% | ||||||
49,600 | CBRE Group Inc, (2) | 2,784,544 | ||||
17,100 | Jones Lang LaSalle Inc | 2,526,867 | ||||
Total Real Estate Management & Development | 5,311,411 | |||||
Road & Rail – 2.3% | ||||||
18,500 | Kansas City Southern | 2,787,580 | ||||
26,800 | Landstar System Inc | 2,705,996 | ||||
Total Road & Rail | 5,493,576 |
Shares | Description (1) | Value | ||||
Semiconductors & Semiconductor Equipment – 3.1% | ||||||
73,700 | Intel Corp | $4,091,824 | ||||
41,800 | QUALCOMM Inc | 3,272,940 | ||||
Total Semiconductors & Semiconductor Equipment | 7,364,764 | |||||
Software – 14.2% | ||||||
8,400 | Adobe Inc, (2) | 2,899,008 | ||||
8,200 | Autodesk Inc, (2) | 1,565,216 | ||||
24,900 | Citrix Systems Inc | 2,574,411 | ||||
91,500 | Dynatrace Inc, (2) | 2,955,450 | ||||
7,500 | Fair Isaac Corp, (2) | 2,820,225 | ||||
27,000 | Fortinet Inc, (2) | 2,755,620 | ||||
65,200 | Microsoft Corp | 10,563,052 | ||||
128,000 | Nuance Communications Inc, (2) | 2,767,360 | ||||
64,000 | Oracle Corp | 3,165,440 | ||||
8,300 | Paycom Software Inc, (2) | 2,345,995 | ||||
Total Software | 34,411,777 | |||||
Specialty Retail – 1.8% | ||||||
36,500 | Best Buy Co Inc | 2,761,225 | ||||
28,000 | TJX Cos Inc | 1,674,400 | ||||
Total Specialty Retail | 4,435,625 | |||||
Technology Hardware, Storage & Peripherals – 5.2% | ||||||
32,500 | Apple Inc | 8,884,200 | ||||
88,500 | NCR Corp, (2) | 2,230,200 | ||||
45,500 | Xerox Holdings Corp | 1,465,100 | ||||
Total Technology Hardware, Storage & Peripherals | 12,579,500 | |||||
Total Long-Term Investments (cost $283,043,704) | 295,796,714 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 57.0% | ||||||
REPURCHASE AGREEMENTS – 57.0% | ||||||
$137,711 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/20, repurchase price $137,718,433, collateralized by $124,290,000 U.S. Treasury Notes, 2.875%, due 8/15/28, value $140,470,072 | 0.650% | 2/02/20 | $137,710,974 | ||
Total Short-Term Investments (cost $137,710,974) | 137,710,974 | |||||
Total Investments (cost $420,754,678) – 179.5% | 433,507,688 |
Shares | Description (1) | Value | ||||
COMMON STOCKS SOLD SHORT – (56.8)% (3) | ||||||
Aerospace & Defense – (0.3)% | ||||||
(2,500) | Boeing Co | $(687,775) |
Shares | Description (1) | Value | ||||
Air Freight & Logistics – (0.7)% | ||||||
(12,600) | FedEx Corp | $(1,778,742) | ||||
Automobiles – (0.3)% | ||||||
(925) | Tesla Inc, (2) | (617,891) | ||||
Banks – (0.7)% | ||||||
(21,500) | Cullen/Frost Bankers Inc | (1,685,385) | ||||
Biotechnology – (1.2)% | ||||||
(32,500) | Ionis Pharmaceuticals Inc, (2) | (1,650,350) | ||||
(11,400) | Sarepta Therapeutics Inc, (2) | (1,304,958) | ||||
Total Biotechnology | (2,955,308) | |||||
Building Products – (0.5)% | ||||||
(118,000) | Resideo Technologies Inc, (2) | (1,268,500) | ||||
Capital Markets – (0.6)% | ||||||
(79,000) | Virtu Financial Inc | (1,485,990) | ||||
Chemicals – (2.5)% | ||||||
(21,500) | Albemarle Corp | (1,759,775) | ||||
(22,000) | DuPont de Nemours Inc | (943,800) | ||||
(14,700) | International Flavors & Fragrances Inc | (1,760,766) | ||||
(100,000) | Mosaic Co | (1,703,000) | ||||
Total Chemicals | (6,167,341) | |||||
Commercial Services & Supplies – (1.5)% | ||||||
(48,000) | Rollins Inc | (1,797,120) | ||||
(30,100) | Stericycle Inc, (2) | (1,728,643) | ||||
Total Commercial Services & Supplies | (3,525,763) | |||||
Construction & Engineering – (0.8)% | ||||||
(49,000) | Quanta Services Inc | (1,868,370) | ||||
Containers & Packaging – (0.7)% | ||||||
(35,000) | Sonoco Products Co | (1,687,350) | ||||
Diversified Consumer Services – (0.7)% | ||||||
(46,000) | ServiceMaster Global Holdings Inc, (2) | (1,645,420) | ||||
Electric Utilities – (1.4)% | ||||||
(25,300) | Edison International | (1,699,907) | ||||
(19,900) | Eversource Energy | (1,720,554) | ||||
Total Electric Utilities | (3,420,461) |
Shares | Description (1) | Value | ||||
Electronic Equipment, Instruments & Components – (1.4)% | ||||||
(70,000) | Corning Inc | $(1,670,200) | ||||
(13,600) | IPG Photonics Corp, (2) | (1,735,904) | ||||
Total Electronic Equipment, Instruments & Components | (3,406,104) | |||||
Energy Equipment & Services – (0.8)% | ||||||
(74,000) | Halliburton Co | (1,255,040) | ||||
(180,000) | Transocean Ltd, (2) | (603,000) | ||||
Total Energy Equipment & Services | (1,858,040) | |||||
Entertainment – (3.2)% | ||||||
(39,000) | Liberty Media Corp-Liberty Formula One, (2) | (1,523,340) | ||||
(6,500) | Madison Square Garden Co, (2) | (1,740,830) | ||||
(1,950) | Netflix Inc, (2) | (719,608) | ||||
(12,900) | Spotify Technology SA, (2) | (1,768,848) | ||||
(5,500) | Walt Disney Co | (647,075) | ||||
(31,000) | World Wrestling Entertainment Inc | (1,449,870) | ||||
Total Entertainment | (7,849,571) | |||||
Food & Staples Retailing – (0.8)% | ||||||
(64,000) | Grocery Outlet Holding Corp, (2) | (2,025,600) | ||||
Food Products – (2.9)% | ||||||
(45,000) | Archer-Daniels-Midland Co | (1,694,250) | ||||
(12,800) | Beyond Meat Inc, (2) | (1,147,520) | ||||
(64,000) | Hain Celestial Group Inc, (2) | (1,518,720) | ||||
(42,500) | Hormel Foods Corp | (1,768,000) | ||||
(25,500) | TreeHouse Foods Inc, (2) | (971,805) | ||||
Total Food Products | (7,100,295) | |||||
Health Care Equipment & Supplies – (2.5)% | ||||||
(25,700) | Cantel Medical Corp | (1,621,670) | ||||
(8,700) | ICU Medical Inc, (2) | (1,703,547) | ||||
(1,375) | Intuitive Surgical Inc, (2) | (734,195) | ||||
(7,500) | Penumbra Inc, (2) | (1,243,950) | ||||
(6,000) | Varian Medical Systems Inc, (2) | (737,820) | ||||
Total Health Care Equipment & Supplies | (6,041,182) | |||||
Health Care Providers & Services – (1.7)% | ||||||
(55,000) | Acadia Healthcare Co Inc, (2) | (1,628,000) | ||||
(107,000) | Covetrus Inc, (2) | (1,188,770) | ||||
(16,000) | Guardant Health Inc, (2) | (1,391,360) | ||||
Total Health Care Providers & Services | (4,208,130) | |||||
Health Care Technology – (0.7)% | ||||||
(124,000) | Change Healthcare Inc, (2) | (1,685,160) |
Shares | Description (1) | Value | ||||
Hotels, Restaurants & Leisure – (2.5)% | ||||||
(47,000) | Carnival Corp | $(1,572,620) | ||||
(16,200) | Darden Restaurants Inc | (1,579,500) | ||||
(28,000) | Yum China Holdings Inc | (1,226,120) | ||||
(19,400) | Yum! Brands Inc | (1,731,450) | ||||
Total Hotels, Restaurants & Leisure | (6,109,690) | |||||
Household Products – (1.0)% | ||||||
(10,300) | Clorox Co | (1,642,026) | ||||
(16,500) | Energizer Holdings Inc | (709,335) | ||||
Total Household Products | (2,351,361) | |||||
Interactive Media & Services – (0.4)% | ||||||
(17,500) | Zillow Group Inc, (2) | (976,675) | ||||
Internet & Direct Marketing Retail – (0.9)% | ||||||
(31,200) | Grubhub Inc, (2) | (1,501,032) | ||||
(10,300) | Wayfair Inc, (2) | (651,063) | ||||
Total Internet & Direct Marketing Retail | (2,152,095) | |||||
IT Services – (2.1)% | ||||||
(19,700) | Alliance Data Systems Corp | (1,691,836) | ||||
(6,700) | MongoDB Inc, (2) | (1,021,750) | ||||
(9,400) | Square Inc, (2) | (783,302) | ||||
(13,200) | Twilio Inc, (2) | (1,486,848) | ||||
Total IT Services | (4,983,736) | |||||
Life Sciences Tools & Services – (0.7)% | ||||||
(47,000) | QIAGEN NV, (2) | (1,687,300) | ||||
Machinery – (1.5)% | ||||||
(12,600) | Snap-on Inc | (1,823,850) | ||||
(85,000) | Trinity Industries Inc | (1,729,750) | ||||
Total Machinery | (3,553,600) | |||||
Media – (0.6)% | ||||||
(55,300) | ViacomCBS Inc | (1,360,933) | ||||
Metals & Mining – (0.7)% | ||||||
(160,000) | Freeport-McMoRan Inc | (1,593,600) | ||||
Multiline Retail – (2.2)% | ||||||
(21,000) | Dollar Tree Inc, (2) | (1,743,630) | ||||
(126,000) | Macy's Inc | (1,666,980) | ||||
(36,500) | Ollie's Bargain Outlet Holdings Inc, (2) | (1,856,755) | ||||
Total Multiline Retail | (5,267,365) |
Shares | Description (1) | Value | ||||
Multi-Utilities – (1.2)% | ||||||
(15,200) | Dominion Energy Inc | $(1,188,336) | ||||
(65,000) | NiSource Inc | (1,756,300) | ||||
Total Multi-Utilities | (2,944,636) | |||||
Oil, Gas & Consumable Fuels – (0.9)% | ||||||
(12,000) | Exxon Mobil Corp | (617,280) | ||||
(28,000) | Hess Corp | (1,573,040) | ||||
Total Oil, Gas & Consumable Fuels | (2,190,320) | |||||
Pharmaceuticals – (0.7)% | ||||||
(65,000) | Elanco Animal Health Inc, (2) | (1,781,000) | ||||
Professional Services – (0.7)% | ||||||
(12,600) | Equifax Inc | (1,789,704) | ||||
Road & Rail – (1.7)% | ||||||
(32,000) | Lyft Inc, (2) | (1,219,840) | ||||
(48,000) | Ryder System Inc | (1,825,920) | ||||
(28,000) | Uber Technologies Inc, (2) | (948,360) | ||||
Total Road & Rail | (3,994,120) | |||||
Semiconductors & Semiconductor Equipment – (1.6)% | ||||||
(17,000) | Cree Inc, (2) | (760,410) | ||||
(36,200) | First Solar Inc, (2) | (1,656,874) | ||||
(9,100) | Monolithic Power Systems Inc | (1,443,624) | ||||
Total Semiconductors & Semiconductor Equipment | (3,860,908) | |||||
Software – (6.1)% | ||||||
(34,000) | 2U Inc, (2) | (799,340) | ||||
(23,000) | Elastic NV, (2) | (1,698,780) | ||||
(85,000) | FireEye Inc, (2) | (1,124,975) | ||||
(14,000) | New Relic Inc, (2) | (787,640) | ||||
(89,000) | PagerDuty Inc, (2) | (1,833,400) | ||||
(72,000) | Pluralsight Inc, (2) | (1,283,760) | ||||
(23,200) | PTC Inc, (2) | (1,752,760) | ||||
(8,300) | Splunk Inc, (2) | (1,222,839) | ||||
(8,600) | Workday Inc, (2) | (1,489,950) | ||||
(18,800) | Zendesk Inc, (2) | (1,491,028) | ||||
(25,000) | Zscaler Inc, (2) | (1,299,750) | ||||
Total Software | (14,784,222) | |||||
Specialty Retail – (2.2)% | ||||||
(14,400) | Advance Auto Parts Inc | (1,914,912) | ||||
(17,500) | Five Below Inc, (2) | (1,696,625) | ||||
(6,600) | Ulta Beauty Inc, (2) | (1,696,794) | ||||
Total Specialty Retail | (5,308,331) |
Shares | Description (1) | Value | ||||
Technology Hardware, Storage & Peripherals – (0.6)% | ||||||
(90,000) | Pure Storage Inc, (2) | $(1,373,400) | ||||
Textiles, Apparel & Luxury Goods – (1.4)% | ||||||
(60,500) | Capri Holdings Ltd, (2) | (1,562,110) | ||||
(21,000) | Columbia Sportswear Co | (1,707,300) | ||||
Total Textiles, Apparel & Luxury Goods | (3,269,410) | |||||
Trading Companies & Distributors – (0.7)% | ||||||
(51,000) | Fastenal Co | (1,745,220) | ||||
Water Utilities – (0.5)% | ||||||
(27,500) | Essential Utilities Inc | (1,182,775) | ||||
Total Common Stocks Sold Short (proceeds $157,349,499) | (137,228,779) | |||||
Other Assets Less Liabilities – (22.7)% | (54,716,888) | |||||
Net Assets – 100% | $241,562,021 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | The Fund may pledge up to 100% of its eligible long-term investments in the Portfolio of Investments as collateral for Common Stocks Sold Short. As of the end of the reporting period, long-term investments with a value of $291,328,226 have been pledged as collateral for Common Stocks Sold Short. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 88.6% | ||||||
COMMON STOCKS – 88.6% | ||||||
Aerospace & Defense – 0.9% | ||||||
66,000 | Spirit AeroSystems Holdings Inc | $3,487,440 | ||||
Air Freight & Logistics – 0.8% | ||||||
43,000 | XPO Logistics Inc, (2) | 3,180,710 | ||||
Airlines – 0.8% | ||||||
74,000 | Southwest Airlines Co | 3,418,060 | ||||
Automobiles – 1.8% | ||||||
475,000 | Ford Motor Co | 3,306,000 | ||||
127,000 | General Motors Co | 3,873,500 | ||||
Total Automobiles | 7,179,500 | |||||
Banks – 2.2% | ||||||
31,000 | Citigroup Inc | 1,967,260 | ||||
76,000 | Popular Inc | 3,646,480 | ||||
76,000 | Western Alliance Bancorp | 3,499,040 | ||||
Total Banks | 9,112,780 | |||||
Biotechnology – 1.8% | ||||||
46,000 | AbbVie Inc | 3,942,660 | ||||
11,000 | Biogen Inc, (2) | 3,392,290 | ||||
Total Biotechnology | 7,334,950 | |||||
Building Products – 0.9% | ||||||
65,000 | Owens Corning | 3,671,850 | ||||
Capital Markets – 2.9% | ||||||
37,000 | Evercore Inc | 2,464,940 | ||||
72,000 | Legg Mason Inc | 3,587,040 | ||||
47,000 | LPL Financial Holdings Inc | 3,735,560 | ||||
18,000 | T Rowe Price Group Inc | 2,124,180 | ||||
Total Capital Markets | 11,911,720 | |||||
Construction & Engineering – 1.9% | ||||||
81,000 | AECOM, (2) | 3,640,140 | ||||
90,000 | Arcosa Inc | 3,866,400 | ||||
Total Construction & Engineering | 7,506,540 | |||||
Construction Materials – 0.9% | ||||||
45,000 | Eagle Materials Inc | 3,551,850 |
Shares | Description (1) | Value | ||||
Consumer Finance – 1.2% | ||||||
81,000 | Navient Corp | $909,630 | ||||
367,000 | SLM Corp | 3,805,790 | ||||
Total Consumer Finance | 4,715,420 | |||||
Containers & Packaging – 2.7% | ||||||
91,000 | Berry Global Group Inc, (2) | 3,454,360 | ||||
284,000 | Graphic Packaging Holding Co | 3,839,680 | ||||
97,000 | International Paper Co | 3,585,120 | ||||
Total Containers & Packaging | 10,879,160 | |||||
Diversified Telecommunication Services – 1.1% | ||||||
109,000 | AT&T Inc | 3,838,980 | ||||
65,000 | CenturyLink Inc | 784,550 | ||||
Total Diversified Telecommunication Services | 4,623,530 | |||||
Electrical Equipment – 1.6% | ||||||
382,000 | GrafTech International Ltd | 3,117,120 | ||||
45,000 | Regal Beloit Corp | 3,493,800 | ||||
Total Electrical Equipment | 6,610,920 | |||||
Electronic Equipment, Instruments & Components – 2.6% | ||||||
53,000 | Arrow Electronics Inc, (2) | 3,554,180 | ||||
110,000 | Avnet Inc | 3,374,800 | ||||
118,000 | Jabil Inc | 3,781,900 | ||||
Total Electronic Equipment, Instruments & Components | 10,710,880 | |||||
Energy Equipment & Services – 0.8% | ||||||
568,000 | Patterson-UTI Energy Inc | 3,254,640 | ||||
Entertainment – 1.5% | ||||||
22,000 | Electronic Arts Inc, (2) | 2,230,140 | ||||
547,000 | Zynga Inc, (2) | 3,670,370 | ||||
Total Entertainment | 5,900,510 | |||||
Health Care Providers & Services – 6.5% | ||||||
43,000 | AmerisourceBergen Corp | 3,625,760 | ||||
14,000 | Anthem Inc | 3,599,260 | ||||
76,000 | Cardinal Health Inc | 3,961,120 | ||||
48,000 | DaVita Inc, (2) | 3,725,760 | ||||
12,000 | Humana Inc | 3,836,160 | ||||
26,000 | McKesson Corp | 3,636,360 | ||||
15,000 | UnitedHealth Group Inc | 3,824,400 | ||||
Total Health Care Providers & Services | 26,208,820 | |||||
Hotels, Restaurants & Leisure – 2.5% | ||||||
93,000 | Hilton Grand Vacations Inc, (2) | 2,479,380 | ||||
33,000 | Hyatt Hotels Corp | 2,527,800 |
Shares | Description (1) | Value | ||||
Hotels, Restaurants & Leisure (continued) | ||||||
128,000 | MGM Resorts International | $3,143,680 | ||||
43,000 | Wyndham Hotels & Resorts Inc | 2,190,850 | ||||
Total Hotels, Restaurants & Leisure | 10,341,710 | |||||
Household Durables – 2.7% | ||||||
90,000 | PulteGroup Inc | 3,618,000 | ||||
50,000 | Tempur Sealy International Inc, (2) | 3,737,500 | ||||
27,000 | Whirlpool Corp | 3,452,220 | ||||
Total Household Durables | 10,807,720 | |||||
Household Products – 0.1% | ||||||
10,000 | Spectrum Brands Holdings Inc | 538,900 | ||||
Independent Power & Renewable Electricity Producers – 0.8% | ||||||
179,000 | Vistra Energy Corp | 3,442,170 | ||||
Industrial Conglomerates – 1.0% | ||||||
27,000 | Carlisle Cos Inc | 3,922,830 | ||||
Insurance – 3.1% | ||||||
91,000 | Assured Guaranty Ltd | 3,713,710 | ||||
82,000 | Athene Holding Ltd, (2) | 3,382,500 | ||||
48,000 | Lincoln National Corp | 2,178,720 | ||||
80,000 | MetLife Inc | 3,417,600 | ||||
Total Insurance | 12,692,530 | |||||
Internet & Direct Marketing Retail – 3.1% | ||||||
3,000 | Booking Holdings Inc, (2) | 5,086,980 | ||||
108,000 | eBay Inc | 3,741,120 | ||||
37,000 | Expedia Group Inc | 3,648,940 | ||||
Total Internet & Direct Marketing Retail | 12,477,040 | |||||
IT Services – 2.7% | ||||||
50,000 | Booz Allen Hamilton Holding Corp | 3,565,000 | ||||
14,000 | CACI International Inc, (2) | 3,430,280 | ||||
13,000 | Mastercard Inc | 3,773,250 | ||||
Total IT Services | 10,768,530 | |||||
Machinery – 3.4% | ||||||
58,000 | AGCO Corp | 3,504,940 | ||||
23,000 | Cummins Inc | 3,479,670 | ||||
142,000 | Gates Industrial Corp PLC, (2) | 1,485,320 | ||||
27,000 | PACCAR Inc | 1,806,300 | ||||
78,000 | Timken Co | 3,497,520 | ||||
Total Machinery | 13,773,750 | |||||
Media – 2.7% | ||||||
113,000 | AMC Networks Inc, (2) | 3,503,000 |
Shares | Description (1) | Value | ||||
Media (continued) | ||||||
148,000 | Discovery Inc, (2) | $3,803,600 | ||||
171,000 | Interpublic Group of Cos Inc | 3,652,560 | ||||
Total Media | 10,959,160 | |||||
Metals & Mining – 3.7% | ||||||
260,000 | Alcoa Corp, (2) | 3,606,200 | ||||
85,000 | Nucor Corp | 3,514,750 | ||||
38,000 | Reliance Steel & Aluminum Co | 3,887,020 | ||||
146,000 | Steel Dynamics Inc | 3,887,980 | ||||
Total Metals & Mining | 14,895,950 | |||||
Multiline Retail – 0.9% | ||||||
34,000 | Target Corp | 3,502,000 | ||||
Oil, Gas & Consumable Fuels – 5.6% | ||||||
236,000 | Centennial Resource Development Inc, (2) | 559,320 | ||||
672,000 | EQT Corp | 3,944,640 | ||||
1,307,000 | Extraction Oil & Gas Inc, (2) | 899,870 | ||||
96,000 | HollyFrontier Corp | 3,233,280 | ||||
1,192,000 | Kosmos Energy Ltd | 3,635,600 | ||||
250,000 | Parsley Energy Inc | 3,350,000 | ||||
1,353,000 | Range Resources Corp | 3,747,810 | ||||
377,000 | WPX Energy Inc, (2) | 3,517,410 | ||||
Total Oil, Gas & Consumable Fuels | 22,887,930 | |||||
Paper & Forest Products – 0.9% | ||||||
120,000 | Domtar Corp | 3,452,400 | ||||
Personal Products – 0.9% | ||||||
112,000 | Herbalife Nutrition Ltd, (2) | 3,624,320 | ||||
Pharmaceuticals – 1.8% | ||||||
61,000 | Bristol-Myers Squibb Co | 3,602,660 | ||||
33,000 | Jazz Pharmaceuticals PLC, (2) | 3,781,140 | ||||
Total Pharmaceuticals | 7,383,800 | |||||
Professional Services – 0.9% | ||||||
46,000 | ManpowerGroup Inc | 3,493,240 | ||||
Real Estate Management & Development – 1.9% | ||||||
71,000 | CBRE Group Inc, (2) | 3,985,940 | ||||
25,000 | Jones Lang LaSalle Inc | 3,694,250 | ||||
Total Real Estate Management & Development | 7,680,190 | |||||
Road & Rail – 0.9% | ||||||
35,000 | Landstar System Inc | 3,533,950 |
Shares | Description (1) | Value | ||||
Semiconductors & Semiconductor Equipment – 1.9% | ||||||
40,000 | Qorvo Inc, (2) | $4,023,200 | ||||
49,000 | QUALCOMM Inc | 3,836,700 | ||||
Total Semiconductors & Semiconductor Equipment | 7,859,900 | |||||
Software – 6.5% | ||||||
38,000 | Citrix Systems Inc | 3,928,820 | ||||
10,000 | Fair Isaac Corp, (2) | 3,760,300 | ||||
37,000 | Fortinet Inc, (2) | 3,776,220 | ||||
22,000 | Microsoft Corp | 3,564,220 | ||||
212,000 | NortonLifeLock Inc | 4,034,360 | ||||
181,000 | Nuance Communications Inc, (2) | 3,913,220 | ||||
71,000 | Oracle Corp | 3,511,660 | ||||
Total Software | 26,488,800 | |||||
Specialty Retail – 1.5% | ||||||
47,000 | Best Buy Co Inc | 3,555,550 | ||||
26,000 | Murphy USA Inc, (2) | 2,535,000 | ||||
Total Specialty Retail | 6,090,550 | |||||
Technology Hardware, Storage & Peripherals – 4.4% | ||||||
14,000 | Apple Inc | 3,827,040 | ||||
85,000 | Dell Technologies Inc, (2) | 3,439,100 | ||||
303,000 | Hewlett Packard Enterprise Co | 3,875,370 | ||||
127,000 | NCR Corp, (2) | 3,200,400 | ||||
113,000 | Xerox Holdings Corp | 3,638,600 | ||||
Total Technology Hardware, Storage & Peripherals | 17,980,510 | |||||
Thrifts & Mortgage Finance – 0.9% | ||||||
304,000 | MGIC Investment Corp | 3,657,120 | ||||
Wireless Telecommunication Services – 0.9% | ||||||
182,000 | Telephone & Data Systems Inc | 3,665,480 | ||||
Total Long-Term Investments (cost $392,736,246) | 359,179,760 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 24.7% | ||||||
REPURCHASE AGREEMENTS – 24.7% | ||||||
$99,968 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/20, repurchase price $99,973,179, collateralized by $93,870,000 U.S. Treasury Notes, 2.625%, due 12/31/25, value $101,970,230 | 0.650% | 3/02/20 | $99,967,764 | ||
Total Short-Term Investments (cost $99,967,764) | 99,967,764 | |||||
Total Investments (cost $492,704,010) – 113.3% | 459,147,524 |
Shares | Description (1) | Value | ||||
COMMON STOCKS SOLD SHORT – (86.0)% (3) | ||||||
Aerospace & Defense – (0.9)% | ||||||
(13,000) | Boeing Co | $(3,576,430) | ||||
Air Freight & Logistics – (0.9)% | ||||||
(26,000) | FedEx Corp | (3,670,420) | ||||
Automobiles – (0.8)% | ||||||
(5,000) | Tesla Inc, (2) | (3,339,950) | ||||
Banks – (0.2)% | ||||||
(8,000) | Cullen/Frost Bankers Inc | (627,120) | ||||
Biotechnology – (3.2)% | ||||||
(76,000) | Agios Pharmaceuticals Inc, (2) | (3,608,480) | ||||
(19,000) | BioMarin Pharmaceutical Inc, (2) | (1,717,030) | ||||
(50,000) | Bluebird Bio Inc, (2) | (3,616,500) | ||||
(34,000) | Sarepta Therapeutics Inc, (2) | (3,891,980) | ||||
Total Biotechnology | (12,833,990) | |||||
Building Products – (0.9)% | ||||||
(340,000) | Resideo Technologies Inc, (2) | (3,655,000) | ||||
Capital Markets – (0.9)% | ||||||
(192,000) | Virtu Financial Inc | (3,611,520) | ||||
Chemicals – (3.9)% | ||||||
(44,000) | Albemarle Corp | (3,601,400) | ||||
(79,000) | DuPont de Nemours Inc | (3,389,100) | ||||
(31,000) | International Flavors & Fragrances Inc | (3,713,180) | ||||
(201,000) | Mosaic Co | (3,423,030) | ||||
(26,000) | WR Grace & Co | (1,470,560) | ||||
Total Chemicals | (15,597,270) | |||||
Commercial Services & Supplies – (1.7)% | ||||||
(100,000) | Rollins Inc | (3,744,000) | ||||
(57,000) | Stericycle Inc, (2) | (3,273,510) | ||||
Total Commercial Services & Supplies | (7,017,510) | |||||
Construction & Engineering – (0.5)% | ||||||
(213,000) | Fluor Corp | (1,985,160) | ||||
Distributors – (0.8)% | ||||||
(39,000) | Genuine Parts Co | (3,402,360) | ||||
Diversified Consumer Services – (1.0)% | ||||||
(8,000) | Graham Holdings Co | (4,023,040) |
Shares | Description (1) | Value | ||||
Electric Utilities – (3.5)% | ||||||
(63,000) | Alliant Energy Corp | $(3,283,560) | ||||
(52,000) | Edison International | (3,493,880) | ||||
(43,000) | Eversource Energy | (3,717,780) | ||||
(57,000) | Xcel Energy Inc | (3,552,240) | ||||
Total Electric Utilities | (14,047,460) | |||||
Electronic Equipment, Instruments & Components – (1.8)% | ||||||
(144,000) | Corning Inc | (3,435,840) | ||||
(30,000) | IPG Photonics Corp, (2) | (3,829,200) | ||||
Total Electronic Equipment, Instruments & Components | (7,265,040) | |||||
Energy Equipment & Services – (2.3)% | ||||||
(197,000) | Halliburton Co | (3,341,120) | ||||
(181,000) | National Oilwell Varco Inc | (3,386,510) | ||||
(709,000) | Transocean Ltd, (2) | (2,375,150) | ||||
Total Energy Equipment & Services | (9,102,780) | |||||
Entertainment – (6.0)% | ||||||
(86,000) | Liberty Media Corp-Liberty Formula One, (2) | (3,359,160) | ||||
(13,000) | Madison Square Garden Co, (2) | (3,481,660) | ||||
(10,000) | Netflix Inc, (2) | (3,690,300) | ||||
(30,000) | Roku Inc, (2) | (3,410,100) | ||||
(27,000) | Spotify Technology SA, (2) | (3,702,240) | ||||
(30,000) | Walt Disney Co | (3,529,500) | ||||
(71,000) | World Wrestling Entertainment Inc | (3,320,670) | ||||
Total Entertainment | (24,493,630) | |||||
Food & Staples Retailing – (0.9)% | ||||||
(118,000) | Grocery Outlet Holding Corp, (2) | (3,734,700) | ||||
Food Products – (3.7)% | ||||||
(91,000) | Archer-Daniels-Midland Co | (3,426,150) | ||||
(32,000) | Beyond Meat Inc, (2) | (2,868,800) | ||||
(156,000) | Hain Celestial Group Inc, (2) | (3,701,880) | ||||
(83,000) | Hormel Foods Corp | (3,452,800) | ||||
(500) | Seaboard Corp | (1,707,500) | ||||
Total Food Products | (15,157,130) | |||||
Gas Utilities – (0.9)% | ||||||
(35,000) | Atmos Energy Corp | (3,613,750) |
Shares | Description (1) | Value | ||||
Health Care Equipment & Supplies – (5.1)% | ||||||
(21,000) | ABIOMED Inc, (2) | $(3,155,460) | ||||
(55,000) | Cantel Medical Corp | (3,470,500) | ||||
(17,000) | ICU Medical Inc, (2) | (3,328,770) | ||||
(7,000) | Intuitive Surgical Inc, (2) | (3,737,720) | ||||
(21,000) | Penumbra Inc, (2) | (3,483,060) | ||||
(28,000) | Varian Medical Systems Inc, (2) | (3,443,160) | ||||
Total Health Care Equipment & Supplies | (20,618,670) | |||||
Health Care Providers & Services – (1.6)% | ||||||
(111,000) | Acadia Healthcare Co Inc, (2) | (3,285,600) | ||||
(295,000) | Covetrus Inc, (2) | (3,277,450) | ||||
Total Health Care Providers & Services | (6,563,050) | |||||
Health Care Technology – (0.8)% | ||||||
(244,000) | Change Healthcare Inc, (2) | (3,315,960) | ||||
Hotels, Restaurants & Leisure – (1.8)% | ||||||
(110,000) | Carnival Corp | (3,680,600) | ||||
(35,000) | Royal Caribbean Cruises Ltd | (2,814,350) | ||||
(17,000) | Yum China Holdings Inc | (744,430) | ||||
Total Hotels, Restaurants & Leisure | (7,239,380) | |||||
Household Products – (1.7)% | ||||||
(23,000) | Clorox Co | (3,666,660) | ||||
(79,000) | Energizer Holdings Inc | (3,396,210) | ||||
Total Household Products | (7,062,870) | |||||
Interactive Media & Services – (0.9)% | ||||||
(65,000) | Zillow Group Inc, (2) | (3,627,650) | ||||
Internet & Direct Marketing Retail – (1.7)% | ||||||
(77,000) | Grubhub Inc, (2) | (3,704,470) | ||||
(51,000) | Wayfair Inc, (2) | (3,223,710) | ||||
Total Internet & Direct Marketing Retail | (6,928,180) | |||||
IT Services – (2.8)% | ||||||
(41,000) | Alliance Data Systems Corp | (3,521,080) | ||||
(49,000) | Square Inc, (2) | (4,083,170) | ||||
(34,000) | Twilio Inc, (2) | (3,829,760) | ||||
Total IT Services | (11,434,010) | |||||
Life Sciences Tools & Services – (0.9)% | ||||||
(96,000) | QIAGEN NV, (2) | (3,446,400) |
Shares | Description (1) | Value | ||||
Machinery – (2.0)% | ||||||
(23,000) | Snap-on Inc | $(3,329,250) | ||||
(173,000) | Trinity Industries Inc | (3,520,550) | ||||
(18,000) | Westinghouse Air Brake Technologies Corp | (1,236,600) | ||||
Total Machinery | (8,086,400) | |||||
Media – (0.9)% | ||||||
(146,000) | ViacomCBS Inc | (3,593,060) | ||||
Metals & Mining – (1.8)% | ||||||
(350,000) | Freeport-McMoRan Inc | (3,486,000) | ||||
(456,000) | United States Steel Corp | (3,657,120) | ||||
Total Metals & Mining | (7,143,120) | |||||
Multiline Retail – (2.7)% | ||||||
(45,000) | Dollar Tree Inc, (2) | (3,736,350) | ||||
(248,000) | Macy's Inc | (3,281,040) | ||||
(75,000) | Ollie's Bargain Outlet Holdings Inc, (2) | (3,815,250) | ||||
Total Multiline Retail | (10,832,640) | |||||
Multi-Utilities – (1.7)% | ||||||
(46,000) | Dominion Energy Inc | (3,596,280) | ||||
(128,000) | NiSource Inc | (3,458,560) | ||||
Total Multi-Utilities | (7,054,840) | |||||
Oil, Gas & Consumable Fuels – (2.7)% | ||||||
(70,000) | Exxon Mobil Corp | (3,600,800) | ||||
(65,000) | Hess Corp | (3,651,700) | ||||
(55,000) | ONEOK Inc | (3,669,600) | ||||
Total Oil, Gas & Consumable Fuels | (10,922,100) | |||||
Pharmaceuticals – (1.6)% | ||||||
(104,000) | Elanco Animal Health Inc, (2) | (2,849,600) | ||||
(174,000) | Nektar Therapeutics, (2) | (3,620,940) | ||||
Total Pharmaceuticals | (6,470,540) | |||||
Professional Services – (0.9)% | ||||||
(26,000) | Equifax Inc | (3,693,040) | ||||
Road & Rail – (3.4)% | ||||||
(10,000) | AMERCO | (3,225,100) | ||||
(87,000) | Lyft Inc, (2) | (3,316,440) | ||||
(97,000) | Ryder System Inc | (3,689,880) | ||||
(104,000) | Uber Technologies Inc, (2) | (3,522,480) | ||||
Total Road & Rail | (13,753,900) |
Shares | Description (1) | Value | ||||
Semiconductors & Semiconductor Equipment – (2.7)% | ||||||
(88,000) | Cree Inc, (2) | $(3,936,240) | ||||
(79,000) | First Solar Inc, (2) | (3,615,830) | ||||
(22,000) | Monolithic Power Systems Inc | (3,490,080) | ||||
Total Semiconductors & Semiconductor Equipment | (11,042,150) | |||||
Software – (6.9)% | ||||||
(163,000) | 2U Inc, (2) | (3,832,130) | ||||
(48,000) | Elastic NV, (2) | (3,545,280) | ||||
(270,000) | FireEye Inc, (2) | (3,573,450) | ||||
(64,000) | New Relic Inc, (2) | (3,600,640) | ||||
(108,000) | Nutanix Inc, (2) | (2,574,720) | ||||
(98,000) | PagerDuty Inc, (2) | (2,018,800) | ||||
(215,000) | Pluralsight Inc, (2) | (3,833,450) | ||||
(45,000) | PTC Inc, (2) | (3,399,750) | ||||
(10,000) | Workday Inc, (2) | (1,732,500) | ||||
Total Software | (28,110,720) | |||||
Specialty Retail – (2.7)% | ||||||
(29,000) | Advance Auto Parts Inc | (3,856,420) | ||||
(37,000) | Five Below Inc, (2) | (3,587,150) | ||||
(14,000) | Ulta Beauty Inc, (2) | (3,599,260) | ||||
Total Specialty Retail | (11,042,830) | |||||
Technology Hardware, Storage & Peripherals – (0.8)% | ||||||
(220,000) | Pure Storage Inc, (2) | (3,357,200) | ||||
Textiles, Apparel & Luxury Goods – (0.8)% | ||||||
(124,000) | Capri Holdings Ltd, (2) | (3,201,680) | ||||
Trading Companies & Distributors – (0.8)% | ||||||
(100,000) | Fastenal Co | (3,422,000) | ||||
Water Utilities – (1.5)% | ||||||
(23,000) | American Water Works Co Inc | (2,844,180) | ||||
(72,000) | Essential Utilities Inc | (3,096,720) | ||||
Total Water Utilities | (5,940,900) | |||||
Total Common Stocks Sold Short (proceeds $410,812,388) | (348,657,550) | |||||
Other Assets Less Liabilities – 72.7% | 294,826,019 | |||||
Net Assets – 100% | $405,315,993 |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets. | |
(2) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(3) | The Fund may pledge up to 100% of its eligible long-term investments in the Portfolio of Investments as collateral for Common Stocks Sold Short. As of the end of the reporting period, long-term investments with a value of $166,287,260 have been pledged as collateral for Common Stocks Sold Short. |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Assets | |||||
Long-term investments, at value (cost $315,496,930, $624,023,019, $185,840,064, $283,043,704 and $392,736,246, respectively) | $295,411,196 | $636,888,200 | $241,969,082 | $295,796,714 | $359,179,760 |
Short-term investments, at value (cost approximates value) | 3,759,317 | — | 3,417,178 | 137,710,974 | 99,967,764 |
Cash | — | — | 632 | — | — |
Cash collateral at brokers for common stocks sold short(1) | — | — | — | — | 302,804,107 |
Receivable for: | |||||
Dividends | 691,238 | 912,749 | 313,990 | 418,974 | 585,913 |
Due from affiliates | 9,549 | 21,035 | 7,347 | 7,832 | 12,566 |
Interest | 136 | — | 123 | 4,973 | 3,610 |
Investments sold | 2,549,962 | 12,071,381 | 844,467 | 10,409,514 | 10,816,935 |
Shares sold | 254,899 | 1,317,090 | 178,768 | 507,144 | 1,201,712 |
Other assets | 162,092 | 37,633 | 48,512 | 21,201 | 30,213 |
Total assets | 302,838,389 | 651,248,088 | 246,780,099 | 444,877,326 | 774,602,580 |
Liabilities | |||||
Common stocks sold short, at value (proceeds $—, $—, $—, $157,349,499 and $410,812,388, respectively) | — | — | — | 137,228,779 | 348,657,550 |
Cash collateral due to brokers | — | — | — | 51,405,203 | — |
Cash overdraft | — | 632,857 | — | — | — |
Payable for: | |||||
Dividends | — | 367 | — | — | — |
Dividends on common stocks sold short | — | — | — | 220,733 | 494,506 |
Investments purchased - regular settlement | 1,056,899 | 2,880,914 | 247,403 | 9,964,918 | 10,838,108 |
Shares redeemed | 1,687,116 | 9,357,200 | 1,079,139 | 4,027,551 | 8,533,188 |
Accrued expenses: | |||||
Management fees | 164,745 | 358,147 | 124,933 | 252,939 | 393,409 |
Shareholder servicing agent fees | 87,316 | 145,554 | 80,399 | 122,883 | 239,860 |
Trustees fees | 136,709 | 18,851 | 31,341 | 4,772 | 7,359 |
12b-1 distribution and service fees | 55,385 | 89,636 | 45,358 | 23,037 | 12,269 |
Other | 74,136 | 130,050 | 68,355 | 64,490 | 110,338 |
Total liabilities | 3,262,306 | 13,613,576 | 1,676,928 | 203,315,305 | 369,286,587 |
Net assets | $299,576,083 | $637,634,512 | $245,103,171 | $241,562,021 | $405,315,993 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Class A Shares | |||||
Net assets | $196,248,058 | $85,988,911 | $100,155,448 | $42,897,289 | $24,423,365 |
Shares outstanding | 9,729,878 | 2,959,436 | 3,996,936 | 1,148,997 | 1,146,283 |
Net asset value ("NAV") per share | $20.17 | $29.06 | $25.06 | $37.33 | $21.31 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $21.40 | $30.83 | $26.59 | $39.61 | $22.61 |
Class C Shares | |||||
Net assets | $11,961,633 | $77,485,604 | $25,589,998 | $14,672,734 | $7,689,983 |
Shares outstanding | 623,709 | 2,716,760 | 1,062,393 | 431,453 | 379,310 |
NAV and offering price per share | $19.18 | $28.52 | $24.09 | $34.01 | $20.27 |
Class R3 Shares | |||||
Net assets | $118,187 | $ — | $ — | $ — | $ — |
Shares outstanding | 5,793 | — | — | — | — |
NAV and offering price per share | $20.40 | $ — | $ — | $ — | $ — |
Class R6 Shares | |||||
Net assets | $192,776 | $115,942,375 | $1,073,668 | $ — | $ — |
Shares outstanding | 9,519 | 3,994,901 | 42,790 | — | — |
NAV and offering price per share | $20.25 | $29.02 | $25.09 | $ — | $ — |
Class I Shares | |||||
Net assets | $91,055,429 | $358,217,622 | $118,284,057 | $183,991,998 | $373,202,645 |
Shares outstanding | 4,495,591 | 12,364,684 | 4,710,779 | 4,784,845 | 17,258,893 |
NAV and offering price per share | $20.25 | $28.97 | $25.11 | $38.45 | $21.62 |
Fund level net assets consist of: | |||||
Capital paid-in | $331,628,119 | $653,621,530 | $177,879,164 | $259,629,617 | $481,369,400 |
Total distributable earnings | (32,052,036) | (15,987,018) | 67,224,007 | (18,067,596) | (76,053,407) |
Fund level net assets | $299,576,083 | $637,634,512 | $245,103,171 | $241,562,021 | $405,315,993 |
Authorized shares - per class | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
Par value per share | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 |
(1) | Cash pledged as collateral for common stocks sold short is in addition to the Fund's securities pledged as collateral as noted in the Portfolio of Investments. |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Investment Income | |||||
Dividends | $4,087,835 | $6,746,081 | $1,764,868 | $3,097,949 | $4,812,007 |
Interest | 13,686 | 2,032 | 8,252 | 270,141 | 163,996 |
Other | — | — | — | — | 2,342,196 |
Payment from affiliate | 9,549 | 21,035 | 7,347 | 7,832 | 12,566 |
Tax withheld | (6,259) | (4,800) | (1,688) | (1,238) | (3,206) |
Total investment income | 4,104,811 | 6,764,348 | 1,778,779 | 3,374,684 | 7,327,559 |
Expenses | |||||
Management fees | 1,176,837 | 2,572,038 | 981,990 | 1,915,453 | 3,488,016 |
12b-1 service fees - Class A Shares | 284,518 | 125,479 | 139,412 | 65,120 | 47,678 |
12b-1 distibution and service fees - Class C Shares | 72,378 | 467,208 | 145,748 | 91,402 | 52,532 |
12b-1 distibution and service fees - Class R3 Shares | 1,013 | — | — | — | — |
Dividends expense on common stocks sold short | — | — | — | 1,336,560 | 3,914,945 |
Prime broker expenses | — | — | — | 873,791 | — |
Shareholder servicing agent fees | 141,061 | 259,781 | 125,257 | 167,703 | 304,534 |
Custodian fees | 36,737 | 57,977 | 35,713 | 41,481 | 53,041 |
Professional fees | 22,777 | 31,708 | 21,721 | 20,160 | 28,512 |
Trustees fees | 4,666 | 10,424 | 3,602 | 3,932 | 7,418 |
Shareholder reporting expenses | 20,548 | 39,888 | 19,796 | 24,136 | 39,351 |
Federal and state registration fees | 43,835 | 45,365 | 36,920 | 34,204 | 60,783 |
Other | 6,780 | 14,168 | 6,268 | 6,525 | 7,490 |
Total expenses before fee waiver/expense reimbursement | 1,811,150 | 3,624,036 | 1,516,427 | 4,580,467 | 8,004,300 |
Fee waiver/expense reimbursement | (90,243) | (118,488) | (168,143) | (129,658) | (165,541) |
Net expenses | 1,720,907 | 3,505,548 | 1,348,284 | 4,450,809 | 7,838,759 |
Net investment income (loss) | 2,383,904 | 3,258,800 | 430,495 | (1,076,125) | (511,200) |
Realized and Unrealized Gain (Loss) | |||||
Net realized gain (loss) from: | |||||
Investments | 17,762,028 | 33,604,362 | 16,949,826 | 19,502,218 | 27,558,099 |
Common stocks sold short | — | — | — | (9,868,924) | (54,702,728) |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments | (24,931,268) | (34,284,194) | (5,311,325) | (18,065,275) | (32,210,383) |
Common stocks sold short | — | — | — | (11,698,991) | 11,840,613 |
Net realized and unrealized gain (loss) | (7,169,240) | (679,832) | 11,638,501 | (20,130,972) | (47,514,399) |
Net increase (decrease) in net assets from operations | $(4,785,336) | $2,578,968 | $12,068,996 | $(21,207,097) | $(48,025,599) |
Large Cap Value | Large Cap Core | ||||
Six Months Ended 2/29/20 | Year Ended 8/31/19 | Six Months Ended 2/29/20 | Year Ended 8/31/19 | ||
Operations | |||||
Net investment income (loss) | $2,383,904 | $5,908,132 | $3,258,800 | $8,604,924 | |
Net realized gain (loss) from: | |||||
Investments | 17,762,028 | (20,123,916) | 33,604,362 | (55,476,641) | |
Common stocks sold short | — | — | — | — | |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments | (24,931,268) | (53,079,747) | (34,284,194) | (83,623,051) | |
Common stocks sold short | — | — | — | — | |
Net increase (decrease) in net assets from operations | (4,785,336) | (67,295,531) | 2,578,968 | (130,494,768) | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (2,936,378) | (32,419,502) | (749,742) | (1,136,128) | |
Class C Shares | (81,057) | (2,326,746) | (22,882) | (733,665) | |
Class R3 Shares | (5,360) | (56,892) | — | — | |
Class R6 Shares | (4,232) | (1,953,723) | (1,279,868) | (1,680,547) | |
Class I Shares | (1,798,861) | (21,259,721) | (4,819,950) | (8,165,566) | |
Decrease in net assets from distributions to shareholders | (4,825,888) | (58,016,584) | (6,872,442) | (11,715,906) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 13,210,095 | 85,709,773 | 60,405,706 | 525,004,319 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 3,893,505 | 47,974,878 | 5,635,521 | 9,495,942 | |
17,103,600 | 133,684,651 | 66,041,227 | 534,500,261 | ||
Cost of shares redeemed | (77,148,494) | (136,127,816) | (280,767,123) | (399,498,773) | |
Net increase (decrease) in net assets from Fund share transactions | (60,044,894) | (2,443,165) | (214,725,896) | 135,001,488 | |
Net increase (decrease) in net assets | (69,656,118) | (127,755,280) | (219,019,370) | (7,209,186) | |
Net assets at the beginning of period | 369,232,201 | 496,987,481 | 856,653,882 | 863,863,068 | |
Net assets at the end of period | $299,576,083 | $369,232,201 | $637,634,512 | $856,653,882 |
Large Cap Growth | Equity Long/Short | ||||
Six Months Ended 2/29/20 | Year Ended 8/31/19 | Six Months Ended 2/29/20 | Year Ended 8/31/19 | ||
Operations | |||||
Net investment income (loss) | $430,495 | $1,896,374 | $(1,076,125) | $72,765 | |
Net realized gain (loss) from: | |||||
Investments | 16,949,826 | 41,686,822 | 19,502,218 | (39,996,456) | |
Common stocks sold short | — | — | (9,868,924) | (16,860,059) | |
Change in net unrealized appreciation (depreciation) of: | |||||
Investments | (5,311,325) | (83,190,169) | (18,065,275) | (13,915,850) | |
Common stocks sold short | — | — | (11,698,991) | 36,967,032 | |
Net increase (decrease) in net assets from operations | 12,068,996 | (39,606,973) | (21,207,097) | (33,732,568) | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (7,668,446) | (10,931,273) | — | (723,620) | |
Class C Shares | (1,966,361) | (3,606,164) | — | (300,346) | |
Class R3 Shares | — | — | — | — | |
Class R6 Shares | (90,517) | (2,056,913) | — | — | |
Class I Shares | (9,723,399) | (17,669,250) | — | (4,267,198) | |
Decrease in net assets from distributions to shareholders | (19,448,723) | (34,263,600) | — | (5,291,164) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 17,268,346 | 48,576,983 | 36,784,537 | 265,600,346 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 16,380,278 | 29,302,916 | — | 5,279,420 | |
33,648,624 | 77,879,899 | 36,784,537 | 270,879,766 | ||
Cost of shares redeemed | (88,320,533) | (201,275,961) | (104,182,759) | (276,408,392) | |
Net increase (decrease) in net assets from Fund share transactions | (54,671,909) | (123,396,062) | (67,398,222) | (5,528,626) | |
Net increase (decrease) in net assets | (62,051,636) | (197,266,635) | (88,605,319) | (44,552,358) | |
Net assets at the beginning of period | 307,154,807 | 504,421,442 | 330,167,340 | 374,719,698 | |
Net assets at the end of period | $245,103,171 | $307,154,807 | $241,562,021 | $330,167,340 |
Equity Market Neutral | ||
Six Months Ended 2/29/20 | Year Ended 8/31/19 | |
Operations | ||
Net investment income (loss) | $(511,200) | $2,334,978 |
Net realized gain (loss) from: | ||
Investments | 27,558,099 | (19,927,639) |
Common stocks sold short | (54,702,728) | (52,413,835) |
Change in net unrealized appreciation (depreciation) of: | ||
Investments | (32,210,383) | (17,522,970) |
Common stocks sold short | 11,840,613 | 52,346,013 |
Net increase (decrease) in net assets from operations | (48,025,599) | (35,183,453) |
Distributions to Shareholders | ||
Dividends: | ||
Class A Shares | (53,215) | (190,467) |
Class C Shares | — | (55,467) |
Class R3 Shares | — | — |
Class R6 Shares | — | — |
Class I Shares | (1,919,186) | (2,400,973) |
Decrease in net assets from distributions to shareholders | (1,972,401) | (2,646,907) |
Fund Share Transactions | ||
Proceeds from sale of shares | 98,459,641 | 929,416,578 |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 1,598,290 | 2,553,219 |
100,057,931 | 931,969,797 | |
Cost of shares redeemed | (299,846,103) | (495,781,465) |
Net increase (decrease) in net assets from Fund share transactions | (199,788,172) | 436,188,332 |
Net increase (decrease) in net assets | (249,786,172) | 398,357,972 |
Net assets at the beginning of period | 655,102,165 | 256,744,193 |
Net assets at the end of period | $405,315,993 | $655,102,165 |
Equity Long/Short | Equity Market Neutral | |
Cash Flows from Operating Activities: | ||
Net Increase (Decrease) in Net Assets from Operations | $(21,207,097) | $(48,025,599) |
Adjustments to reconcile the net increase (decrease) in net assets from operations to net cash provided by (used in) operating activities: | ||
Purchases of investments | (254,418,091) | (386,332,865) |
Purchases of common stock sold short | (249,205,965) | (529,071,905) |
Proceeds from sales | 400,643,845 | 315,771,593 |
Proceeds from sales of common stock sold short | 139,060,161 | 570,684,376 |
Proceeds from (purchase of) short-term investments, net | (75,821,122) | 7,992,000 |
Proceeds from litigation settlement | — | 5,205 |
(Increase) Decrease in: | ||
Receivable for dividends | 172,241 | 242,994 |
Receivable for due from affiliate | (7,832) | (12,566) |
Receivable for interest | (1,363) | 2,688 |
Receivable for investments sold | (4,210,278) | 11,969,338 |
Other assets | 11,449 | 72,905 |
Increase (Decrease) in: | ||
Payable for dividends on common stock sold short | (88,265) | (156,426) |
Payable for investments purchased - regular settlement | 4,801,042 | (13,519,704) |
Accrued management fees | (80,226) | (293,947) |
Accrued trustees fees | 757 | 1,245 |
Accrued shareholder servicing agent fees | 5,740 | 22,799 |
Accrued 12b-1 distribution and service fees | (5,113) | (7,070) |
Accrued other expenses | (18,448) | (53,209) |
Net realized (gain) loss from: | ||
Investments | (19,502,218) | (27,558,099) |
Common stocks sold short | 9,868,924 | 54,702,728 |
Change in net unrealized (appreciation) depreciation of: | ||
Investments | 18,065,275 | 32,210,383 |
Common stocks sold short | 11,698,991 | (11,840,613) |
Net cash provided by (used in) operating activities | (40,237,593) | (23,193,749) |
Cash Flows from Financing Activities: | ||
Increase (decrease) in cash collateral due to brokers | 51,405,203 | — |
Cash distributions paid to shareholders | — | (374,111) |
Proceeds from sale of shares | 36,989,822 | 99,084,070 |
Cost of shares redeemed | (100,804,950) | (296,574,664) |
Net cash provided by (used in) financing activities | (12,409,925) | (197,864,705) |
Net Increase (Decrease) in Cash and Cash Collateral at Brokers | (52,647,518) | (221,058,454) |
Cash and cash collateral at brokers at the beginning of period | 52,647,518 | 523,862,561 |
Cash and cash collateral at brokers at the end of period | — | 302,804,107 |
Supplemental Disclosure of Cash Flow Information | Equity Long/Short | Equity Market Neutral |
Non-cash financing activities not included herein consists of reinvestments of share distributions | — | 1,598,290 |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (08/96) | |||||||||
2020(f) | $21.07 | $0.14 | $(0.74) | $(0.60) | $(0.30) | $ — | $(0.30) | $20.17 | |
2019 | 28.18 | 0.30 | (4.25) | (3.95) | (0.24) | (2.92) | (3.16) | 21.07 | |
2018 | 25.94 | 0.24 | 4.63 | 4.87 | (0.36) | (2.27) | (2.63) | 28.18 | |
2017 | 22.73 | 0.23 | 3.31 | 3.54 | (0.33) | — | (0.33) | 25.94 | |
2016 | 23.58 | 0.32 | 0.98 | 1.30 | (0.24) | (1.91) | (2.15) | 22.73 | |
2015 | 28.36 | 0.27 | (1.77) | (1.50) | (0.21) | (3.07) | (3.28) | 23.58 | |
Class C (08/96) | |||||||||
2020(f) | 19.97 | 0.05 | (0.71) | (0.66) | (0.13) | — | (0.13) | 19.18 | |
2019 | 26.84 | 0.12 | (4.03) | (3.91) | (0.04) | (2.92) | (2.96) | 19.97 | |
2018 | 24.77 | 0.03 | 4.43 | 4.46 | (0.12) | (2.27) | (2.39) | 26.84 | |
2017 | 21.72 | 0.05 | 3.16 | 3.21 | (0.16) | — | (0.16) | 24.77 | |
2016 | 22.60 | 0.15 | 0.93 | 1.08 | (0.05) | (1.91) | (1.96) | 21.72 | |
2015 | 27.31 | 0.07 | (1.70) | (1.63) | (0.01) | (3.07) | (3.08) | 22.60 | |
Class R3 (08/08) | |||||||||
2020(f) | 21.30 | 0.12 | (0.77) | (0.65) | (0.25) | — | (0.25) | 20.40 | |
2019 | 28.43 | 0.24 | (4.27) | (4.03) | (0.18) | (2.92) | (3.10) | 21.30 | |
2018 | 26.10 | 0.17 | 4.67 | 4.84 | (0.24) | (2.27) | (2.51) | 28.43 | |
2017 | 22.87 | 0.16 | 3.34 | 3.50 | (0.27) | — | (0.27) | 26.10 | |
2016 | 23.71 | 0.28 | 0.97 | 1.25 | (0.18) | (1.91) | (2.09) | 22.87 | |
2015 | 28.50 | 0.19 | (1.76) | (1.57) | (0.15) | (3.07) | (3.22) | 23.71 | |
Class R6 (06/16) | |||||||||
2020(f) | 21.21 | 0.13 | (0.73) | (0.60) | (0.36) | — | (0.36) | 20.25 | |
2019 | 28.35 | 0.37 | (4.28) | (3.91) | (0.31) | (2.92) | (3.23) | 21.21 | |
2018 | 26.12 | 0.32 | 4.67 | 4.99 | (0.49) | (2.27) | (2.76) | 28.35 | |
2017 | 22.88 | 0.31 | 3.34 | 3.65 | (0.41) | — | (0.41) | 26.12 | |
2016(g) | 21.66 | 0.06 | 1.16 | 1.22 | — | — | — | 22.88 | |
Class I (08/96) | |||||||||
2020(f) | 21.18 | 0.17 | (0.74) | (0.57) | (0.36) | — | (0.36) | 20.25 | |
2019 | 28.33 | 0.36 | (4.28) | (3.92) | (0.31) | (2.92) | (3.23) | 21.18 | |
2018 | 26.12 | 0.30 | 4.67 | 4.97 | (0.49) | (2.27) | (2.76) | 28.33 | |
2017 | 22.88 | 0.29 | 3.33 | 3.62 | (0.38) | — | (0.38) | 26.12 | |
2016 | 23.73 | 0.37 | 0.99 | 1.36 | (0.30) | (1.91) | (2.21) | 22.88 | |
2015 | 28.52 | 0.34 | (1.78) | (1.44) | (0.28) | (3.07) | (3.35) | 23.73 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss)(b) | Portfolio Turnover Rate(e) | |
(3.06)% | $196,248 | 1.05%* | 1.21%* | 1.00%* | 1.26%* | 55% | |
(13.60) | 217,694 | 1.03 | 1.25 | 1.00 | 1.28 | 145 | |
20.30 | 293,656 | 1.05 | 0.87 | 1.03 | 0.89 | 169 | |
15.63 | 252,902 | 1.05 | 0.92 | 1.05 | 0.92 | 152 | |
6.26 | 240,572 | 1.10 | 1.44 | 1.10 | 1.44 | 141 | |
(5.75) | 267,337 | 1.12 | 1.01 | 1.12 | 1.01 | 158 | |
(3.42) | 11,962 | 1.80* | 0.45* | 1.75* | 0.50* | 55 | |
(14.24) | 14,781 | 1.78 | 0.50 | 1.75 | 0.52 | 145 | |
19.38 | 21,195 | 1.80 | 0.09 | 1.78 | 0.12 | 169 | |
14.79 | 19,868 | 1.80 | 0.19 | 1.80 | 0.19 | 152 | |
5.46 | 27,588 | 1.85 | 0.70 | 1.85 | 0.70 | 141 | |
(6.45) | 31,516 | 1.87 | 0.26 | 1.87 | 0.26 | 158 | |
(3.24) | 118 | 1.30* | 1.02* | 1.25* | 1.07* | 55 | |
(13.81) | 475 | 1.28 | 1.00 | 1.25 | 1.04 | 145 | |
19.99 | 208 | 1.30 | 0.62 | 1.28 | 0.64 | 169 | |
15.38 | 211 | 1.29 | 0.63 | 1.29 | 0.63 | 152 | |
5.97 | 186 | 1.34 | 1.25 | 1.34 | 1.25 | 141 | |
(5.99) | 232 | 1.37 | 0.73 | 1.37 | 0.73 | 158 | |
(3.06) | 193 | 0.73* | 1.15* | 0.68* | 1.20* | 55 | |
(13.35) | 14,849 | 0.72 | 1.55 | 0.69 | 1.58 | 145 | |
20.69 | 17,514 | 0.76 | 1.18 | 0.73 | 1.20 | 169 | |
16.02 | 17,991 | 0.73 | 1.23 | 0.73 | 1.23 | 152 | |
5.63 | 19,773 | 0.73* | 1.48* | 0.73* | 1.48* | 141 | |
(2.96) | 91,055 | 0.80* | 1.45* | 0.75* | 1.50* | 55 | |
(13.40) | 121,433 | 0.78 | 1.50 | 0.75 | 1.53 | 145 | |
20.60 | 164,387 | 0.80 | 1.10 | 0.77 | 1.13 | 169 | |
15.92 | 119,038 | 0.80 | 1.17 | 0.80 | 1.17 | 152 | |
6.53 | 99,927 | 0.85 | 1.69 | 0.85 | 1.69 | 141 | |
(5.52) | 103,342 | 0.86 | 1.29 | 0.86 | 1.29 | 158 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return and Net Investment Income (Loss) Ratios for each share class would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, Other Transactions with Affiliates for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives, Investment Transactions) divided by the average long-term market value during the period. |
(f) | For the six months ended February 29, 2020. |
(g) | For the period June 30, 2016 (commencement of operations) through August 31, 2016. |
* | Annualized. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (06/13) | |||||||||
2020(f) | $29.83 | $0.11 | $(0.64) | $(0.53) | $(0.24) | $ — | $(0.24) | $29.06 | |
2019 | 34.81 | 0.25 | (4.90) | (4.65) | (0.12) | (0.21) | (0.33) | 29.83 | |
2018 | 31.25 | 0.18 | 7.24 | 7.42 | (0.19) | (3.67) | (3.86) | 34.81 | |
2017 | 27.03 | 0.18 | 4.24 | 4.42 | (0.20) | — | (0.20) | 31.25 | |
2016 | 25.64 | 0.22 | 1.71 | 1.93 | (0.15) | (0.39) | (0.54) | 27.03 | |
2015 | 26.67 | 0.23 | (0.69) | (0.46) | (0.02) | (0.55) | (0.57) | 25.64 | |
Class C (06/13) | |||||||||
2020(f) | 29.18 | (0.01) | (0.64) | (0.65) | (0.01) | — | (0.01) | 28.52 | |
2019 | 34.17 | 0.01 | (4.79) | (4.78) | — | (0.21) | (0.21) | 29.18 | |
2018 | 30.78 | (0.07) | 7.13 | 7.06 | — | (3.67) | (3.67) | 34.17 | |
2017 | 26.64 | (0.05) | 4.19 | 4.14 | —** | — | —** | 30.78 | |
2016 | 25.32 | 0.02 | 1.69 | 1.71 | — | (0.39) | (0.39) | 26.64 | |
2015 | 26.51 | 0.02 | (0.66) | (0.64) | — | (0.55) | (0.55) | 25.32 | |
Class R6 (06/16) | |||||||||
2020(f) | 29.83 | 0.16 | (0.64) | (0.48) | (0.33) | — | (0.33) | 29.02 | |
2019 | 34.80 | 0.35 | (4.90) | (4.55) | (0.21) | (0.21) | (0.42) | 29.83 | |
2018 | 31.33 | 0.28 | 7.24 | 7.52 | (0.38) | (3.67) | (4.05) | 34.80 | |
2017 | 27.08 | 0.27 | 4.26 | 4.53 | (0.28) | — | (0.28) | 31.33 | |
2016(g) | 25.46 | 0.05 | 1.57 | 1.62 | — | — | — | 27.08 | |
Class I (06/13) | |||||||||
2020(f) | 29.77 | 0.15 | (0.63) | (0.48) | (0.32) | — | (0.32) | 28.97 | |
2019 | 34.76 | 0.33 | (4.90) | (4.57) | (0.21) | (0.21) | (0.42) | 29.77 | |
2018 | 31.31 | 0.27 | 7.23 | 7.50 | (0.38) | (3.67) | (4.05) | 34.76 | |
2017 | 27.08 | 0.24 | 4.25 | 4.49 | (0.26) | — | (0.26) | 31.31 | |
2016 | 25.69 | 0.28 | 1.72 | 2.00 | (0.22) | (0.39) | (0.61) | 27.08 | |
2015 | 26.71 | 0.30 | (0.68) | (0.38) | (0.09) | (0.55) | (0.64) | 25.69 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss)(b) | Portfolio Turnover Rate(e) | |
(1.87)% | $85,989 | 1.01%* | 0.66%* | 0.98%* | 0.69%* | 47% | |
(13.31) | 100,315 | 1.01 | 0.77 | 0.98 | 0.80 | 127 | |
25.00 | 104,779 | 1.01 | 0.53 | 1.00 | 0.55 | 117 | |
16.41 | 55,756 | 1.06 | 0.56 | 1.01 | 0.60 | 121 | |
7.66 | 47,518 | 1.11 | 0.84 | 1.11 | 0.85 | 132 | |
(1.76) | 37,684 | 1.14 | 0.84 | 1.14 | 0.84 | 110 | |
(2.20) | 77,486 | 1.76* | (0.09)* | 1.73* | (0.06)* | 47 | |
(13.98) | 96,999 | 1.76 | 0.02 | 1.73 | 0.05 | 127 | |
24.06 | 110,300 | 1.76 | (0.22) | 1.75 | (0.20) | 117 | |
15.55 | 59,610 | 1.81 | (0.21) | 1.76 | (0.16) | 121 | |
6.86 | 47,805 | 1.86 | 0.09 | 1.85 | 0.10 | 132 | |
(2.47) | 38,591 | 1.89 | 0.09 | 1.89 | 0.09 | 110 | |
(1.70) | 115,942 | 0.68* | 0.98* | 0.66* | 1.01* | 47 | |
(13.02) | 126,554 | 0.69 | 1.08 | 0.66 | 1.11 | 127 | |
25.36 | 139,631 | 0.71 | 0.81 | 0.70 | 0.82 | 117 | |
16.81 | 17,095 | 0.74 | 0.87 | 0.70 | 0.91 | 121 | |
6.36 | 18,489 | 0.74* | 1.05* | 0.69* | 1.10* | 132 | |
(1.71) | 358,218 | 0.76* | 0.90* | 0.73* | 0.93* | 47 | |
(13.09) | 532,786 | 0.76 | 1.02 | 0.73 | 1.05 | 127 | |
25.31 | 509,125 | 0.76 | 0.79 | 0.75 | 0.80 | 117 | |
16.68 | 256,389 | 0.81 | 0.79 | 0.76 | 0.83 | 121 | |
7.93 | 140,976 | 0.86 | 1.09 | 0.86 | 1.10 | 132 | |
(1.49) | 153,632 | 0.89 | 1.11 | 0.89 | 1.11 | 110 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return and Net Investment Income (Loss) Ratios for each share class would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, Other Transactions with Affiliates for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives, Investment Transactions) divided by the average long-term market value during the period. |
(f) | For the six months ended February 29, 2020. |
(g) | For the period June 30, 2016 (commencement of operations) through August 31, 2016. |
* | Annualized. |
** | Rounds to less than $.01 per share. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (06/13) | |||||||||
2020(f) | $26.04 | $0.04 | $0.96 | $1.00 | $(0.11) | $(1.87) | $(1.98) | $25.06 | |
2019 | 30.82 | 0.11 | (2.51) | (2.40) | — | (2.38) | (2.38) | 26.04 | |
2018 | 30.34 | 0.06 | 7.39 | 7.45 | (0.12) | (6.85) | (6.97) | 30.82 | |
2017 | 25.69 | 0.09 | 4.75 | 4.84 | (0.19) | — | (0.19) | 30.34 | |
2016 | 25.28 | 0.13 | 1.24 | 1.37 | (0.09) | (0.87) | (0.96) | 25.69 | |
2015 | 26.34 | 0.15 | (0.15) | — | (0.03) | (1.03) | (1.06) | 25.28 | |
Class C (06/13) | |||||||||
2020(f) | 25.10 | (0.07) | 0.93 | 0.86 | — | (1.87) | (1.87) | 24.09 | |
2019 | 30.02 | (0.08) | (2.46) | (2.54) | — | (2.38) | (2.38) | 25.10 | |
2018 | 29.80 | (0.18) | 7.25 | 7.07 | — | (6.85) | (6.85) | 30.02 | |
2017 | 25.25 | (0.13) | 4.68 | 4.55 | —** | — | —** | 29.80 | |
2016 | 24.96 | (0.05) | 1.21 | 1.16 | — | (0.87) | (0.87) | 25.25 | |
2015 | 26.18 | (0.06) | (0.13) | (0.19) | — | (1.03) | (1.03) | 24.96 | |
Class R6 (06/16) | |||||||||
2020(f) | 26.17 | 0.03 | 0.96 | 0.99 | (0.20) | (1.87) | (2.07) | 25.09 | |
2019 | 30.89 | 0.21 | (2.53) | (2.32) | (0.02) | (2.38) | (2.40) | 26.17 | |
2018 | 30.40 | 0.17 | 7.41 | 7.58 | (0.24) | (6.85) | (7.09) | 30.89 | |
2017 | 25.73 | 0.17 | 4.77 | 4.94 | (0.27) | — | (0.27) | 30.40 | |
2016(g) | 24.27 | 0.03 | 1.43 | 1.46 | — | — | — | 25.73 | |
Class I (06/13) | |||||||||
2020(f) | 26.12 | 0.07 | 0.96 | 1.03 | (0.17) | (1.87) | (2.04) | 25.11 | |
2019 | 30.86 | 0.18 | (2.52) | (2.34) | (0.02) | (2.38) | (2.40) | 26.12 | |
2018 | 30.39 | 0.14 | 7.42 | 7.56 | (0.24) | (6.85) | (7.09) | 30.86 | |
2017 | 25.73 | 0.15 | 4.76 | 4.91 | (0.25) | — | (0.25) | 30.39 | |
2016 | 25.33 | 0.20 | 1.23 | 1.43 | (0.16) | (0.87) | (1.03) | 25.73 | |
2015 | 26.38 | 0.21 | (0.14) | 0.07 | (0.09) | (1.03) | (1.12) | 25.33 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(d) | ||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss)(b) | Portfolio Turnover Rate(e) | |
3.20% | $100,155 | 1.11%* | 0.14%* | 0.99%* | 0.26%* | 46% | |
(6.86) | 110,191 | 1.11 | 0.31 | 0.99 | 0.43 | 126 | |
26.31 | 155,549 | 1.12 | 0.08 | 1.01 | 0.19 | 128 | |
18.94 | 11,933 | 1.18 | 0.15 | 1.02 | 0.32 | 136 | |
5.57 | 13,654 | 1.22 | 0.47 | 1.15 | 0.53 | 117 | |
0.00 | 31,442 | 1.24 | 0.49 | 1.16 | 0.56 | 118 | |
2.81 | 25,590 | 1.86* | (0.62)* | 1.74* | (0.50)* | 46 | |
(7.55) | 29,779 | 1.86 | (0.43) | 1.74 | (0.32) | 126 | |
25.39 | 49,303 | 1.87 | (0.66) | 1.76 | (0.55) | 128 | |
18.04 | 10,130 | 1.94 | (0.62) | 1.77 | (0.46) | 136 | |
4.77 | 9,344 | 1.98 | (0.30) | 1.89 | (0.22) | 117 | |
(0.74) | 7,621 | 1.99 | (0.29) | 1.91 | (0.22) | 118 | |
3.12 | 1,074 | 0.79* | 0.10* | 0.67* | 0.22* | 46 | |
(6.54) | 23,159 | 0.77 | 0.66 | 0.65 | 0.78 | 126 | |
26.76 | 27,417 | 0.78 | 0.43 | 0.67 | 0.54 | 128 | |
19.31 | 31 | 0.89 | 0.43 | 0.72 | 0.60 | 136 | |
6.02 | 27 | 0.85* | 0.65* | 0.70* | 0.81* | 117 | |
3.32 | 118,284 | 0.86* | 0.39* | 0.74* | 0.50* | 46 | |
(6.62) | 144,025 | 0.86 | 0.55 | 0.74 | 0.67 | 126 | |
26.69 | 272,152 | 0.87 | 0.31 | 0.76 | 0.43 | 128 | |
19.22 | 58,512 | 0.94 | 0.38 | 0.77 | 0.54 | 136 | |
5.80 | 47,945 | 0.97 | 0.71 | 0.89 | 0.79 | 117 | |
0.28 | 58,478 | 0.99 | 0.72 | 0.91 | 0.79 | 118 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return and Net Investment Income (Loss) Ratios for each share class would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, Other Transactions with Affiliates for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives, Investment Transactions) divided by the average long-term market value during the period. |
(f) | For the six months ended February 29, 2020. |
(g) | For the period June 30, 2016 (commencement of operations) through August 31, 2016. |
* | Annualized. |
** | Rounds to less than $.01 per share. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (12/08) | |||||||||
2020(g) | $40.61 | $(0.17) | $(3.11) | $(3.28) | $ — | $ — | $ — | $37.33 | |
2019 | 44.58 | (0.06) | (3.36) | (3.42) | — | (0.55) | (0.55) | 40.61 | |
2018 | 38.60 | (0.30) | 6.94 | 6.64 | — | (0.66) | (0.66) | 44.58 | |
2017 | 32.61 | (0.39) | 6.38 | 5.99 | — | — | — | 38.60 | |
2016 | 32.61 | (0.11) | 0.11 | — | — | — | — | 32.61 | |
2015 | 31.72 | (0.26) | 1.23 | 0.97 | — | (0.08) | (0.08) | 32.61 | |
Class C (12/08) | |||||||||
2020(g) | 37.13 | (0.30) | (2.82) | (3.12) | — | — | — | 34.01 | |
2019 | 41.11 | (0.34) | (3.09) | (3.43) | — | (0.55) | (0.55) | 37.13 | |
2018 | 35.91 | (0.56) | 6.42 | 5.86 | — | (0.66) | (0.66) | 41.11 | |
2017 | 30.57 | (0.62) | 5.96 | 5.34 | — | — | — | 35.91 | |
2016 | 30.80 | (0.33) | 0.10 | (0.23) | — | — | — | 30.57 | |
2015 | 30.19 | (0.48) | 1.17 | 0.69 | — | (0.08) | (0.08) | 30.80 | |
Class I (12/08) | |||||||||
2020(g) | 41.77 | (0.13) | (3.19) | (3.32) | — | — | — | 38.45 | |
2019 | 45.73 | 0.05 | (3.46) | (3.41) | — | (0.55) | (0.55) | 41.77 | |
2018 | 39.48 | (0.17) | 7.08 | 6.91 | — | (0.66) | (0.66) | 45.73 | |
2017 | 33.27 | (0.31) | 6.52 | 6.21 | — | — | — | 39.48 | |
2016 | 33.18 | (0.06) | 0.15 | 0.09 | — | — | — | 33.27 | |
2015 | 32.20 | (0.16) | 1.22 | 1.06 | — | (0.08) | (0.08) | 33.18 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement(d) | Ratios to Average Net Assets After Waiver/Reimbursement(d), (e) | ||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss)(b) | Portfolio Turnover Rate(f) | |
(8.08)% | $42,897 | 3.13%* | (0.93)%* | 3.05%* | (0.85)%* | 74% | |
(7.65) | 52,856 | 2.72 | (0.24) | 2.64 | (0.16) | 188 | |
17.35 | 55,183 | 2.73 | (0.81) | 2.63 | (0.70) | 213 | |
18.37 | 26,802 | 3.54 | (1.27) | 3.36 | (1.09) | 186 | |
0.00 | 26,012 | 3.78 | (0.53) | 3.58 | (0.33) | 224 | |
3.06 | 24,821 | 3.76 | (1.03) | 3.53 | (0.79) | 222 | |
(8.43) | 14,673 | 3.88* | (1.68)* | 3.80* | (1.60)* | 74 | |
(8.33) | 19,961 | 3.48 | (0.99) | 3.39 | (0.91) | 188 | |
16.47 | 19,561 | 3.47 | (1.54) | 3.37 | (1.44) | 213 | |
17.47 | 8,596 | 4.28 | (2.04) | 4.10 | (1.86) | 186 | |
(0.75) | 8,236 | 4.53 | (1.29) | 4.34 | (1.09) | 224 | |
2.28 | 8,087 | 4.52 | (1.76) | 4.29 | (1.53) | 222 | |
(7.95) | 183,992 | 2.88* | (0.68)* | 2.79* | (0.60)* | 74 | |
(7.44) | 257,351 | 2.47 | 0.03 | 2.39 | 0.12 | 188 | |
17.65 | 299,977 | 2.47 | (0.49) | 2.37 | (0.39) | 213 | |
18.67 | 70,282 | 3.26 | (1.04) | 3.08 | (0.86) | 186 | |
0.27 | 48,905 | 3.52 | (0.37) | 3.33 | (0.18) | 224 | |
3.29 | 53,559 | 3.52 | (0.72) | 3.28 | (0.48) | 222 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return and Net Investment Income (Loss) Ratios for each share class would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, Other Transactions with Affiliates for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | Each ratio includes the effect of dividends expense on common stocks sold short and prime broker expenses as shown in the following table. In the event the Fund earn credits as an element of its prime broker fee agreement, and such earned credits exceed prime brokerage fees, the Fund's prime broker expense for the reporting period will be zero. See Note 3 - Portfolio Securities and Investments in Derivatives, Short Sale Transactions for more information. |
Ratios of Dividends Expense on Common Stocks Sold Short to Average Net Assets | Ratios of Prime Broker Expenses to Average Net Assets | ||||||
Year Ended August 31, | Class A | Class C | Class I | Class A | Class C | Class I | |
2020(g) | 0.87% | 0.87% | 0.87% | 0.57% | 0.57% | 0.56% | |
2019 | 1.03 | 1.03 | 1.03 | — | — | — | |
2018 | 1.01 | 1.01 | 1.00 | — | — | — | |
2017 | 1.18 | 1.17 | 1.18 | 0.56 | 0.56 | 0.54 | |
2016 | 1.19 | 1.20 | 1.20 | 0.77 | 0.77 | 0.77 | |
2015 | 1.17 | 1.19 | 1.17 | 0.74 | 0.74 | 0.75 |
(e) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(f) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives, Investment Transactions) divided by the average long-term market value during the period. |
(g) | For the six months ended February 29, 2020. |
* | Annualized. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended August 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending NAV | |
Class A (06/13) | |||||||||
2020(g) | $23.55 | $(0.04) | $(2.17) | $(2.21) | $(0.03) | $ — | $(0.03) | $21.31 | |
2019 | 24.50 | 0.04 | (0.85) | (0.81) | — | (0.14) | (0.14) | 23.55 | |
2018 | 23.31 | (0.16) | 1.85 | 1.69 | — | (0.50) | (0.50) | 24.50 | |
2017 | 21.64 | (0.33) | 2.00 | 1.67 | — | — | — | 23.31 | |
2016 | 21.39 | (0.28) | 0.90 | 0.62 | — | (0.37) | (0.37) | 21.64 | |
2015 | 21.27 | (0.32) | 0.50 | 0.18 | — | (0.06) | (0.06) | 21.39 | |
Class C (06/13) | |||||||||
2020(g) | 22.46 | (0.13) | (2.06) | (2.19) | — | — | — | 20.27 | |
2019 | 23.54 | (0.13) | (0.81) | (0.94) | — | (0.14) | (0.14) | 22.46 | |
2018 | 22.59 | (0.33) | 1.78 | 1.45 | — | (0.50) | (0.50) | 23.54 | |
2017 | 21.13 | (0.48) | 1.94 | 1.46 | — | — | — | 22.59 | |
2016 | 21.04 | (0.44) | 0.90 | 0.46 | — | (0.37) | (0.37) | 21.13 | |
2015 | 21.08 | (0.47) | 0.49 | 0.02 | — | (0.06) | (0.06) | 21.04 | |
Class I (06/13) | |||||||||
2020(g) | 23.93 | (0.02) | (2.19) | (2.21) | (0.10) | — | (0.10) | 21.62 | |
2019 | 24.83 | 0.11 | (0.87) | (0.76) | — | (0.14) | (0.14) | 23.93 | |
2018 | 23.57 | (0.10) | 1.86 | 1.76 | — | (0.50) | (0.50) | 24.83 | |
2017 | 21.82 | (0.26) | 2.01 | 1.75 | — | — | — | 23.57 | |
2016 | 21.51 | (0.23) | 0.91 | 0.68 | — | (0.37) | (0.37) | 21.82 | |
2015 | 21.34 | (0.27) | 0.50 | 0.23 | — | (0.06) | (0.06) | 21.51 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement(d) | Ratios to Average Net Assets After Waiver/Reimbursement(d), (e) | ||||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss)(b) | Portfolio Turnover Rate(f) | |
(9.37)% | $24,423 | 3.05%* | (0.45)%* | 2.99%* | (0.39)%* | 82% | |
(3.35) | 43,489 | 2.61 | 0.11 | 2.54 | 0.18 | 205 | |
7.28 | 23,725 | 2.71 | (0.81) | 2.55 | (0.65) | 156 | |
7.72 | 6,146 | 3.32 | (1.70) | 3.05 | (1.44) | 159 | |
2.86 | 9,289 | 3.29 | (1.47) | 3.10 | (1.28) | 187 | |
0.86 | 8,972 | 3.49 | (1.73) | 3.24 | (1.48) | 173 | |
(9.71) | 7,690 | 3.81* | (1.21)* | 3.75* | (1.15)* | 82 | |
(4.05) | 11,858 | 3.37 | (0.63) | 3.30 | (0.55) | 205 | |
6.44 | 5,186 | 3.46 | (1.56) | 3.30 | (1.40) | 156 | |
6.91 | 2,110 | 4.03 | (2.44) | 3.76 | (2.17) | 159 | |
2.14 | 2,109 | 4.06 | (2.23) | 3.87 | (2.04) | 187 | |
0.10 | 1,835 | 4.22 | (2.49) | 3.97 | (2.24) | 173 | |
(9.24) | 373,203 | 2.81* | (0.21)* | 2.75* | (0.15)* | 82 | |
(3.11) | 599,755 | 2.37 | 0.37 | 2.30 | 0.44 | 205 | |
7.50 | 227,833 | 2.45 | (0.55) | 2.29 | (0.40) | 156 | |
8.02 | 59,022 | 3.02 | (1.43) | 2.75 | (1.16) | 159 | |
3.12 | 49,990 | 3.06 | (1.23) | 2.87 | (1.04) | 187 | |
1.09 | 35,162 | 3.21 | (1.51) | 2.97 | (1.26) | 173 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the current fiscal period, the Fund received voluntary compensation from the Adviser. The Fund's Total Return and Net Investment Income (Loss) Ratios for each share class would decrease by an amount equaling less than 0.01% if such voluntary compensation were excluded. See Note 7-Management Fees and Other Transactions with Affiliates, Other Transactions with Affiliates for more information. |
(c) | Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized. |
(d) | Each ratio includes the effect of dividends expense on common stocks sold short and prime broker expenses as shown in the following table. In the event the Fund earn credits as an element of its prime broker fee agreement, and such earned credits exceed prime brokerage fees, the Fund's prime broker expense for the reporting period will be zero. See Note 3 - Portfolio Securities and Investments in Derivatives, Short Sale Transactions for more information. |
Ratios of Dividends Expense on Common Stocks Sold Short to Average Net Assets | Ratios of Prime Broker Expenses to Average Net Assets | ||||||
Year Ended August 31, | Class A | Class C | Class I | Class A | Class C | Class I | |
2020(g) | 1.38% | 1.39% | 1.39% | —% | —% | —% | |
2019 | 0.93 | 0.94 | 0.94 | — | — | — | |
2018 | 0.94 | 0.94 | 0.93 | — | — | — | |
2017 | 1.40 | 1.39 | 1.39 | 0.05 | 0.01 | — | |
2016 | 1.03 | 1.04 | 1.04 | 0.46 | 0.46 | 0.46 | |
2015 | 1.04 | 1.03 | 1.03 | 0.59 | 0.58 | 0.57 |
(e) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information. |
(f) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives, Investment Transactions) divided by the average long-term market value during the period. |
(g) | For the six months ended February 29, 2020. |
* | Annualized. |
Large Cap Value | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $295,411,196 | $ — | $ — | $295,411,196 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 3,759,317 | — | 3,759,317 |
Total | $295,411,196 | $3,759,317 | $ — | $299,170,513 |
Large Cap Core | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $636,888,200 | $ — | $ — | $636,888,200 |
Large Cap Growth | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $241,969,082 | $ — | $ — | $241,969,082 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 3,417,178 | — | 3,417,178 |
Total | $241,969,082 | $3,417,178 | $ — | $245,386,260 |
Equity Long/Short | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $295,796,714 | $ — | $ — | $295,796,714 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 137,710,974 | — | 137,710,974 |
Common Stocks Sold Short* | (137,228,779) | — | — | (137,228,779) |
Total | $158,567,935 | $137,710,974 | $ — | $296,278,909 |
Equity Market Neutral | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $359,179,760 | $ — | $ — | $359,179,760 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 99,967,764 | — | 99,967,764 |
Common Stocks Sold Short* | (348,657,550) | — | — | (348,657,550) |
Total | $10,522,210 | $99,967,764 | $ — | $110,489,974 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty* | Net Exposure |
Large Cap Value | Fixed Income Clearing Corporation | $3,759,317 | $(3,759,317) | $ — |
Large Cap Growth | Fixed Income Clearing Corporation | 3,417,178 | (3,417,178) | — |
Equity Long/Short | Fixed Income Clearing Corporation | 137,710,974 | (137,710,974) | — |
Equity Market Neutral | Fixed Income Clearing Corporation | 99,967,764 | (99,967,764) | — |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Purchases | $193,145,830 | $374,913,156 | $129,975,200 | $503,624,056 | $915,404,770 |
Sales | 255,514,295 | 587,329,604 | 200,476,169 | 539,704,006 | 886,455,969 |
Six Months Ended 2/29/20 | Year Ended 8/31/19 | ||||
Large Cap Value | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 120,951 | $2,785,778 | 661,307 | $14,496,878 | |
Class A – automatic conversion of Class C Shares | 86 | 1,939 | 773 | 19,862 | |
Class C | 44,161 | 959,312 | 242,217 | 5,063,761 | |
Class R3 | 408 | 9,474 | 15,971 | 417,750 | |
Class R6 | 1,969 | 43,275 | 27,487 | 684,734 | |
Class I | 408,518 | 9,410,317 | 2,768,026 | 65,026,788 | |
Class T | — | — | — | — | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 104,122 | 2,462,496 | 1,348,085 | 27,679,730 | |
Class C | 3,004 | 67,639 | 100,355 | 1,949,039 | |
Class R3 | 193 | 4,611 | 2,325 | 48,232 | |
Class R6 | 53 | 1,264 | 92,422 | 1,909,868 | |
Class I | 57,182 | 1,357,495 | 793,579 | 16,388,009 | |
Class T | — | — | — | — | |
740,647 | 17,103,600 | 6,052,547 | 133,684,651 | ||
Shares redeemed: | |||||
Class A | (827,920) | (18,940,890) | (2,098,500) | (46,703,261) | |
Class C | (163,611) | (3,508,529) | (391,179) | (8,152,916) | |
Class C – automatic conversion to Class A Shares | (90) | (1,939) | (812) | (19,862) | |
Class R3 | (17,134) | (407,419) | (3,292) | (82,580) | |
Class R6 | (692,642) | (15,025,568) | (37,619) | (1,048,525) | |
Class I | (1,703,503) | (39,264,149) | (3,631,131) | (80,095,802) | |
Class T | — | — | (1,000) | (24,870) | |
(3,404,900) | (77,148,494) | (6,163,533) | (136,127,816) | ||
Net increase (decrease) | (2,664,253) | $(60,044,894) | (110,986) | $(2,443,165) |
Six Months Ended 2/29/20 | Year Ended 8/31/19 | ||||
Large Cap Core | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 177,143 | $5,643,334 | 1,418,001 | $44,208,502 | |
Class A – automatic conversion of Class C Shares | — | — | 724 | 25,046 | |
Class C | 77,723 | 2,403,889 | 1,147,610 | 34,946,409 | |
Class R6 | 506,272 | 16,166,953 | 823,121 | 25,587,354 | |
Class I | 1,137,326 | 36,191,530 | 13,420,162 | 420,237,008 | |
Class T | — | — | — | — | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 20,612 | 679,972 | 36,644 | 1,037,388 | |
Class C | 585 | 18,969 | 22,401 | 627,236 | |
Class R6 | 38,835 | 1,279,219 | 59,599 | 1,680,197 | |
Class I | 111,234 | 3,657,361 | 218,413 | 6,151,121 | |
Class T | — | — | — | — | |
2,069,730 | 66,041,227 | 17,146,675 | 534,500,261 | ||
Shares redeemed: | |||||
Class A | (601,413) | (19,233,783) | (1,102,391) | (33,260,523) | |
Class C | (685,287) | (21,376,870) | (1,073,817) | (32,240,709) | |
Class C – automatic conversion to Class A Shares | — | — | (738) | (25,046) | |
Class R6 | (792,774) | (24,486,772) | (652,146) | (20,573,151) | |
Class I | (6,778,523) | (215,669,698) | (10,389,593) | (313,374,053) | |
Class T | — | — | (833) | (25,291) | |
(8,857,997) | (280,767,123) | (13,219,518) | (399,498,773) | ||
Net increase (decrease) | (6,788,267) | $(214,725,896) | 3,927,157 | $135,001,488 |
Six Months Ended 2/29/20 | Year Ended 8/31/19 | ||||
Large Cap Growth | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 142,769 | $3,833,475 | 440,764 | $11,525,091 | |
Class A – automatic conversion of Class C Shares | 109 | 3,012 | 490 | 13,332 | |
Class C | 34,243 | 904,642 | 171,874 | 4,329,693 | |
Class R6 | 1,767 | 49,006 | 16,039 | 480,232 | |
Class I | 451,154 | 12,478,211 | 1,239,923 | 32,228,635 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 270,806 | 7,401,735 | 456,158 | 10,591,996 | |
Class C | 66,996 | 1,755,972 | 141,691 | 3,188,043 | |
Class R6 | 3,221 | 88,394 | 88,195 | 2,054,440 | |
Class I | 260,095 | 7,134,177 | 578,920 | 13,468,437 | |
1,231,160 | 33,648,624 | 3,134,054 | 77,879,899 | ||
Shares redeemed: | |||||
Class A | (647,791) | (17,946,990) | (1,712,696) | (44,562,013) | |
Class C | (225,175) | (5,907,921) | (769,001) | (19,336,226) | |
Class C – automatic conversion to Class A Shares | (114) | (3,012) | (505) | (13,332) | |
Class R6 | (847,265) | (22,340,307) | (106,887) | (3,012,439) | |
Class I | (1,514,326) | (42,122,303) | (5,123,392) | (134,351,951) | |
(3,234,671) | (88,320,533) | (7,712,481) | (201,275,961) | ||
Net increase (decrease) | (2,003,511) | $(54,671,909) | (4,578,427) | $(123,396,062) |
Six Months Ended 2/29/20 | Year Ended 8/31/19 | ||||
Equity Long/Short | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 131,432 | $5,384,458 | 613,330 | $25,320,568 | |
Class A – automatic conversion of Class C Shares | 35 | 1,440 | 183 | 7,468 | |
Class C | 22,552 | 847,021 | 182,255 | 6,987,309 | |
Class I | 723,329 | 30,551,618 | 5,485,729 | 233,285,001 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | — | — | 18,177 | 723,620 | |
Class C | — | — | 8,170 | 298,942 | |
Class I | — | — | 104,130 | 4,256,858 | |
877,348 | 36,784,537 | 6,411,974 | 270,879,766 | ||
Shares redeemed: | |||||
Class A | (284,125) | (11,374,452) | (567,931) | (23,095,237) | |
Class C | (128,700) | (4,814,855) | (128,354) | (4,775,982) | |
Class C – automatic conversion to Class A Shares | (38) | (1,440) | (199) | (7,468) | |
Class I | (2,099,374) | (87,992,012) | (5,989,188) | (248,529,705) | |
(2,512,237) | (104,182,759) | (6,685,672) | (276,408,392) | ||
Net increase (decrease) | (1,634,889) | $(67,398,222) | (273,698) | $(5,528,626) |
Six Months Ended 2/29/20 | Year Ended 8/31/19 | ||||
Equity Market Neutral | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 233,153 | $5,395,632 | 1,928,361 | $46,876,614 | |
Class C | 39,090 | 863,277 | 451,089 | 10,722,757 | |
Class I | 3,951,819 | 92,200,732 | 35,204,636 | 871,817,207 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 2,248 | 51,645 | 7,597 | 190,467 | |
Class C | — | — | 2,280 | 54,802 | |
Class I | 66,380 | 1,546,645 | 90,721 | 2,307,950 | |
4,292,690 | 100,057,931 | 37,684,684 | 931,969,797 | ||
Shares redeemed: | |||||
Class A | (935,779) | (21,196,239) | (1,057,823) | (25,308,591) | |
Class C | (187,761) | (4,073,039) | (145,708) | (3,318,282) | |
Class I | (11,819,663) | (274,576,825) | (19,411,116) | (467,154,592) | |
(12,943,203) | (299,846,103) | (20,614,647) | (495,781,465) | ||
Net increase (decrease) | (8,650,513) | $(199,788,172) | 17,070,037 | $436,188,332 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Tax cost of investments | $322,858,976 | $632,261,651 | $191,219,985 | $268,701,758 | $96,076,932 |
Gross unrealized: | |||||
Appreciation | $21,140,174 | $86,746,378 | $72,401,865 | $55,477,072 | $92,844,100 |
Depreciation | (44,828,637) | (82,119,829) | (18,235,590) | (27,899,921) | (78,431,058) |
Net unrealized appreciation (depreciation) of investments | $(23,688,463) | $4,626,549 | $54,166,275 | $27,577,151 | $14,413,042 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Undistributed net ordinary income1 | $2,958,273 | $4,199,454 | $878,574 | $ — | $1,999,947 |
Undistributed net long-term capital gains | — | — | 14,277,179 | — | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Distributions from net ordinary income1 | $27,303,603 | $6,919,764 | $2,447,869 | $ — | $56 |
Distributions from net long-term capital gains | 30,712,981 | 4,796,142 | 31,815,731 | 5,291,164 | 2,646,851 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Equity Long/Short | Equity Market Neutral | |
Not subject to expiration: | ||
Short-term | $53,581,690 | $61,571,160 |
Long-term | — | — |
Total | $53,581,690 | $61,571,160 |
Large Cap Value | Large Cap Core | Equity Long/Short | |
Post-October capital losses2 | $26,641,890 | $54,803,741 | $ — |
Late-year ordinary losses3 | — | — | 269,917 |
2 | Capital losses incurred from November 1, 2018 through August 31, 2019, the Funds' last tax year end. |
3 | Ordinary losses incurred from January 1, 2019 through August 31, 2019, and/or specified losses incurred from November 1, 2018 through August 31, 2019. |
Average Daily Net Assets | Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral |
For the first $125 million | 0.5000% | 0.5000% | 0.5000% | 1.1000% | 1.1000% |
For the next $125 million | 0.4875 | 0.4875 | 0.4875 | 1.0875 | 1.0875 |
For the next $250 million | 0.4750 | 0.4750 | 0.4750 | 1.0750 | 1.0750 |
For the next $500 million | 0.4625 | 0.4625 | 0.4625 | 1.0625 | 1.0625 |
For the next $1 billion | 0.4500 | 0.4500 | 0.4500 | 1.0500 | 1.0500 |
For the next $3 billion | 0.4250 | 0.4250 | 0.4250 | 1.0250 | 1.0250 |
For the next $2.5 billion | 0.4000 | 0.4000 | 0.4000 | 1.0000 | 1.0000 |
For the next $2.5 billion | 0.3875 | 0.3875 | 0.3875 | 0.9875 | 0.9875 |
For net assets over $10 billion | 0.3750 | 0.3750 | 0.3750 | 0.9750 | 0.9750 |
Complex-Level Eligible Asset Breakpoint Level* | Effective Complex-Level Fee Rate at Breakpoint Level |
$55 billion | 0.2000% |
$56 billion | 0.1996 |
$57 billion | 0.1989 |
$60 billion | 0.1961 |
$63 billion | 0.1931 |
$66 billion | 0.1900 |
$71 billion | 0.1851 |
$76 billion | 0.1806 |
$80 billion | 0.1773 |
$91 billion | 0.1691 |
$125 billion | 0.1599 |
$200 billion | 0.1505 |
$250 billion | 0.1469 |
$300 billion | 0.1445 |
Fund | Complex-Level Fee |
Large Cap Value | 0.1554% |
Large Cap Core | 0.1554% |
Large Cap Growth | 0.2000% |
Equity Long/Short | 0.1554% |
Equity Market Neutral | 0.1554% |
Fund | Temporary Expense Cap | Temporary Expense Cap Expiration Date | Permanent Expense Cap |
Large Cap Value | 0.79% | July 31, 2021 | 1.20% |
Large Cap Core | 0.77 | July 31, 2021 | N/A |
Large Cap Growth | 0.75 | July 31, 2021 | N/A |
Equity Long/Short | 1.40 | July 31, 2021 | N/A |
Equity Market Neutral | 1.40 | July 31, 2021 | N/A |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Sales charges collected | $18,741 | $84,886 | $29,015 | $57,147 | $40,335 |
Paid to financial intermediaries | 16,466 | 74,420 | 25,652 | 52,172 | 36,635 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
Commission advances | $8,784 | $18,803 | $3,815 | $25,383 | $18,474 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
12b-1 fees retained | $9,411 | $88,597 | $8,296 | $19,132 | $24,584 |
Large Cap Value | Large Cap Core | Large Cap Growth | Equity Long/Short | Equity Market Neutral | |
CDSC retained | $1,748 | $9,566 | $1,570 | $7,901 | $22,347 |
Large Cap Value | Large Cap Core | Large Cap Growth | |
Class R3 Shares | 2,126 | — | — |
Class R6 Shares | — | 848 | 1,030 |
Class I Shares | — | 991 | — |
Large Cap Core | |
Maximum outstanding balance | $180,707 |
Large Cap Core | |
Utilization period (days outstanding) | 2 |
Average daily balance outstanding | $180,707 |
Average annual interest rate | 2.76% |
Serving Investors for Generations
Item 2. Code of Ethics.
Not applicable to this filing.
Item 3. Audit Committee Financial Expert.
Not applicable to this filing.
Item 4. Principal Accountant Fees and Services.
Not applicable to this filing.
Item 5. Audit Committee of Listed Registrants.
Not applicable to this registrant.
Item 6. Schedule of Investments.
(a) See Portfolio of Investments in Item 1.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to this registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules13a-15(b) or15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
File the exhibits listed below as part of this Form.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant.
(a)(4) Change in the registrant’s independent public accountant. Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Investment Trust
By | (Signature and Title) | /s/ Christopher M. Rohrbacher | ||||
Christopher M. Rohrbacher Vice President and Secretary |
Date: May 7, 2020
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | (Signature and Title) | /s/ Greg A. Bottjer | ||||
Greg A. Bottjer Chief Administrative Officer (principal executive officer) |
Date: May 7, 2020
By | (Signature and Title) | /s/ E. Scott Wickerham | ||||
E. Scott Wickerham Vice President and Controller (principal financial officer) |
Date: May 7, 2020