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 811-08333
Nuveen Investment Trust II
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Mark J. Czarniecki
Vice President and Secretary
333 West Wacker Drive,
Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: July 31
Date of reporting period: July 31, 2021
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 R6 | Class I | |
Nuveen Santa Barbara Dividend Growth Fund | NSBAX | NSBCX | NSBFX | NSBRX | |
Nuveen Santa Barbara Global Dividend Growth Fund | NUGAX | NUGCX | — | NUGIX | |
Nuveen Santa Barbara International Dividend Growth Fund | NUIAX | NUICX | — | NUIIX | |
Effective November 30, 2021, each Fund will remove "Santa Barbara" from its name. Please see the Portfolio Managers’ Comments and Notes to Financial Statements sections of this Annual Report for more information. |
• | Nuveen Santa Barbara Dividend Growth Fund to Nuveen Dividend Growth Fund |
• | Nuveen Santa Barbara Global Dividend Growth Fund to Nuveen Global Dividend Growth Fund |
• | Nuveen Santa Barbara International Dividend Growth Fund to Nuveen International Dividend Growth Fund |
Total Returns as of July 31, 2021* | |||||
Average Annual | |||||
Inception Date | 1-Year | 5-Year | 10-Year | Expense Ratios | |
Class A Shares at NAV | 3/28/06 | 28.85% | 14.01% | 12.71% | 0.95% |
Class A Shares at maximum Offering Price | 3/28/06 | 21.45% | 12.66% | 12.05% | - |
S&P 500® Index | - | 36.45% | 17.35% | 15.35% | - |
Lipper Equity Income Funds Classification Average | - | 34.72% | 11.22% | 11.10% | - |
Class C Shares | 3/28/06 | 27.89% | 13.16% | 12.04% | 1.70% |
Class I Shares | 3/28/06 | 29.15% | 14.29% | 13.00% | 0.70% |
Total Returns as of July 31, 2021* | |||||
Average Annual | |||||
Inception Date | 1-Year | 5-Year | Since Inception | Expense Ratios | |
Class R6 Shares | 3/25/13 | 29.24% | 14.36% | 12.92% | 0.64% |
Total Returns as of July 31, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | Since Inception | Gross | Net | ||
Class A Shares at NAV | 6/11/12 | 23.33% | 9.73% | 9.92% | 1.69% | 1.15% | |
Class A Shares at maximum Offering Price | 6/11/12 | 16.24% | 8.44% | 9.21% | - | - | |
MSCI World Index (Net) | - | 35.07% | 14.29% | 13.10% | - | - | |
Lipper Global Equity Income Funds Classification Average | - | 26.99% | 8.32% | 9.07% | - | - | |
Class C Shares | 6/11/12 | 22.43% | 8.91% | 9.20% | 2.44% | 1.90% | |
Class I Shares | 6/11/12 | 23.64% | 10.00% | 10.19% | 1.44% | 0.90% |
Total Returns as of July 31, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | Since Inception | Gross | Net | ||
Class A Shares at NAV | 6/11/12 | 19.70% | 6.00% | 6.93% | 4.19% | 1.15% | |
Class A Shares at maximum Offering Price | 6/11/12 | 12.82% | 4.75% | 6.24% | - | - | |
MSCI EAFE Index (Net) | - | 30.31% | 9.35% | 8.89% | - | - | |
Lipper International Equity Income Funds Classification Average | - | 26.95% | 7.05% | 6.71% | - | - | |
Class C Shares | 6/11/12 | 18.79% | 5.20% | 6.23% | 4.94% | 1.90% | |
Class I Shares | 6/11/12 | 19.98% | 6.26% | 7.19% | 3.94% | 0.90% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.8% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | (0.1)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
IT Services | 6.1% |
Communications Equipment | 6.0% |
Software | 5.1% |
Semiconductors & Semiconductor Equipment | 5.0% |
Technology Hardware, Storage & Peripherals | 4.9% |
Chemicals | 4.9% |
Health Care Providers & Services | 4.9% |
Specialty Retail | 4.5% |
Pharmaceuticals | 4.3% |
Insurance | 3.7% |
Capital Markets | 3.5% |
Health Care Equipment & Supplies | 3.4% |
Equity Real Estate Investment Trust | 3.0% |
Oil, Gas & Consumable Fuels | 2.9% |
Media | 2.7% |
Banks | 2.6% |
Electric Utilities | 2.5% |
Building Products | 2.5% |
Biotechnology | 2.5% |
Consumer Finance | 2.5% |
Hotels, Restaurants & Leisure | 2.3% |
Other 1 | 19.0% |
Repurchase Agreements | 1.3% |
Other Assets Less Liabilities | (0.1)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Microsoft Corp | 5.1% |
Apple Inc | 4.9% |
Accenture PLC | 3.5% |
Cisco Systems Inc | 3.1% |
UnitedHealth Group Inc | 3.1% |
(1) | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 97.4% |
Repurchase Agreements | 2.4% |
Other Assets Less Liabilities | 0.2% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Microsoft Corp | 4.7% |
Apple Inc | 3.2% |
JPMorgan Chase & Co | 2.9% |
Comcast Corp | 2.9% |
SAP SE | 2.4% |
Portfolio Composition (% of net assets) | |
Software | 7.1% |
Pharmaceuticals | 6.0% |
Oil, Gas & Consumable Fuels | 5.0% |
Banks | 4.8% |
IT Services | 4.1% |
Semiconductors & Semiconductor Equipment | 3.9% |
Textiles, Apparel & Luxury Goods | 3.6% |
Containers & Packaging | 3.5% |
Capital Markets | 3.5% |
Communications Equipment | 3.4% |
Electric Utilities | 3.2% |
Technology Hardware, Storage & Peripherals | 3.2% |
Media | 2.9% |
Specialty Retail | 2.3% |
Industrial Conglomerates | 2.3% |
Wireless Telecommunication Services | 2.3% |
Biotechnology | 2.1% |
Health Care Providers & Services | 2.1% |
Tobacco | 2.1% |
Consumer Finance | 2.1% |
Food Products | 2.0% |
Road & Rail | 2.0% |
Chemicals | 1.9% |
Gas Utilities | 1.9% |
Insurance | 1.9% |
Other 1 | 18.2% |
Repurchase Agreements | 2.4% |
Other Assets Less Liabilities | 0.2% |
Net Assets | 100% |
Country Allocation (% of net assets) | |
United States | 62.8% |
Japan | 7.6% |
United Kingdom | 6.4% |
Canada | 4.8% |
Germany | 4.6% |
France | 4.5% |
Hong Kong | 2.8% |
Australia | 2.3% |
Switzerland | 2.1% |
Italy | 1.9% |
Other Assets Less Liabilities | 0.2% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
Fund Allocation (% of net assets) | |
Common Stocks | 98.1% |
Repurchase Agreements | 3.1% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Koninklijke DSM NV | 5.3% |
Linde PLC | 5.3% |
Novo Nordisk A/S | 4.8% |
Macquarie Group Ltd | 4.3% |
ITOCHU Corp | 4.1% |
Portfolio Composition (% of net assets) | |
Pharmaceuticals | 15.2% |
Chemicals | 10.6% |
Textiles, Apparel & Luxury Goods | 6.5% |
Banks | 5.6% |
Oil, Gas & Consumable Fuels | 5.5% |
Wireless Telecommunication Services | 5.0% |
Capital Markets | 4.3% |
Trading Companies & Distributors | 4.1% |
Software | 3.7% |
Real Estate Management & Development | 3.5% |
Containers & Packaging | 3.4% |
Diversified Financial Services | 3.2% |
Gas Utilities | 3.1% |
Electric Utilities | 3.1% |
Food Products | 2.8% |
Other 1 | 18.5% |
Repurchase Agreements | 3.1% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
Country Allocation2 (% of net assets) | |
United Kingdom | 22.9% |
Japan | 15.0% |
France | 10.1% |
Canada | 9.2% |
United States | 6.5% |
Germany | 6.4% |
Netherlands | 5.3% |
Hong Kong | 5.2% |
Denmark | 4.8% |
Australia | 4.3% |
Other | 11.5% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. | |
2 | Includes 2.1% (as a percentage of net assets) in emerging market countries. |
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 | $1,178.71 | $1,174.38 | $1,180.30 | $1,180.11 |
Expenses Incurred During the Period | $ 4.92 | $ 8.95 | $ 3.30 | $ 3.57 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,020.28 | $1,016.56 | $1,021.77 | $1,021.52 |
Expenses Incurred During the Period | $ 4.56 | $ 8.30 | $ 3.06 | $ 3.31 |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,137.50 | $1,133.42 | $1,138.95 |
Expenses Incurred During the Period | $ 6.04 | $ 10.00 | $ 4.72 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.14 | $1,015.42 | $1,020.38 |
Expenses Incurred During the Period | $ 5.71 | $ 9.44 | $ 4.46 |
Share Class | |||
Class A | Class C | Class I | |
Actual Performance | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,127.27 | $1,122.94 | $1,128.54 |
Expenses Incurred During the Period | $ 6.01 | $ 9.95 | $ 4.70 |
Hypothetical Performance (5% annualized return before expenses) | |||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,019.14 | $1,015.42 | $1,020.38 |
Expenses Incurred During the Period | $ 5.71 | $ 9.44 | $ 4.46 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.8% | ||||||
COMMON STOCKS – 98.8% | ||||||
Aerospace & Defense – 2.2% | ||||||
381,554 | Lockheed Martin Corp | $ 141,812,175 | ||||
Banks – 2.6% | ||||||
1,137,793 | JPMorgan Chase & Co | 172,694,222 | ||||
Beverages – 2.1% | ||||||
881,096 | PepsiCo Inc | 138,288,017 | ||||
Biotechnology – 2.5% | ||||||
1,398,207 | AbbVie Inc | 162,611,474 | ||||
Building Products – 2.5% | ||||||
800,187 | Trane Technologies PLC | 162,926,075 | ||||
Capital Markets – 3.5% | ||||||
2,157,554 | Charles Schwab Corp | 146,605,794 | ||||
390,342 | CME Group Inc | 82,803,249 | ||||
Total Capital Markets | 229,409,043 | |||||
Chemicals – 4.9% | ||||||
958,915 | International Flavors & Fragrances Inc | 144,450,956 | ||||
578,182 | Linde PLC | 177,727,365 | ||||
Total Chemicals | 322,178,321 | |||||
Communications Equipment – 6.0% | ||||||
3,716,710 | Cisco Systems Inc | 205,794,233 | ||||
825,867 | Motorola Solutions Inc | 184,928,138 | ||||
Total Communications Equipment | 390,722,371 | |||||
Consumer Finance – 2.5% | ||||||
952,638 | American Express Co | 162,453,358 | ||||
Containers & Packaging – 1.3% | ||||||
613,754 | Packaging Corp of America | 86,846,191 | ||||
Diversified Telecommunication Services – 1.7% | ||||||
3,899,672 | AT&T Inc | 109,385,800 | ||||
Electric Utilities – 2.5% | ||||||
2,098,562 | NextEra Energy Inc | 163,477,980 |
Shares | Description (1) | Value | ||||
Equity Real Estate Investment Trust – 3.0% | ||||||
1,565,137 | CyrusOne Inc | $111,547,314 | ||||
1,663,039 | Duke Realty Corp | 84,615,424 | ||||
Total Equity Real Estate Investment Trust | 196,162,738 | |||||
Food Products – 1.9% | ||||||
1,907,783 | Mondelez International Inc | 120,686,353 | ||||
Health Care Equipment & Supplies – 3.4% | ||||||
1,500,127 | Baxter International Inc | 116,034,823 | ||||
787,839 | Medtronic PLC | 103,451,139 | ||||
Total Health Care Equipment & Supplies | 219,485,962 | |||||
Health Care Providers & Services – 4.9% | ||||||
301,787 | Anthem Inc | 115,889,226 | ||||
493,392 | UnitedHealth Group Inc | 203,386,050 | ||||
Total Health Care Providers & Services | 319,275,276 | |||||
Hotels, Restaurants & Leisure – 2.3% | ||||||
631,420 | McDonald's Corp | 153,251,948 | ||||
Household Products – 1.6% | ||||||
1,302,814 | Colgate-Palmolive Co | 103,573,713 | ||||
Industrial Conglomerates – 2.0% | ||||||
561,035 | Honeywell International Inc | 131,164,373 | ||||
Insurance – 3.7% | ||||||
637,600 | Chubb Ltd | 107,588,624 | ||||
911,218 | Marsh & McLennan Cos Inc | 134,149,514 | ||||
Total Insurance | 241,738,138 | |||||
IT Services – 6.1% | ||||||
711,895 | Accenture PLC | 226,154,804 | ||||
1,156,364 | Fidelity National Information Services Inc | 172,356,054 | ||||
Total IT Services | 398,510,858 | |||||
Media – 2.7% | ||||||
3,046,910 | Comcast Corp | 179,249,715 | ||||
Multi-Utilities – 1.7% | ||||||
1,203,660 | WEC Energy Group Inc | 113,312,552 | ||||
Oil, Gas & Consumable Fuels – 2.9% | ||||||
1,031,711 | Chevron Corp | 105,038,497 | ||||
1,187,346 | Phillips 66 | 87,186,817 | ||||
Total Oil, Gas & Consumable Fuels | 192,225,314 | |||||
Pharmaceuticals – 4.3% | ||||||
1,018,161 | Johnson & Johnson | 175,327,324 |
Shares | Description (1) | Value | ||||
Pharmaceuticals (continued) | ||||||
1,331,160 | Merck & Co Inc | $ 102,326,269 | ||||
Total Pharmaceuticals | 277,653,593 | |||||
Road & Rail – 2.3% | ||||||
695,335 | Union Pacific Corp | 152,111,485 | ||||
Semiconductors & Semiconductor Equipment – 5.0% | ||||||
278,575 | Broadcom Inc | 135,220,305 | ||||
986,749 | Texas Instruments Inc | 188,094,094 | ||||
Total Semiconductors & Semiconductor Equipment | 323,314,399 | |||||
Software – 5.1% | ||||||
1,165,031 | Microsoft Corp | 331,928,982 | ||||
Specialty Retail – 4.5% | ||||||
899,949 | Lowe's Cos Inc | 173,411,173 | ||||
1,759,496 | TJX Cos Inc | 121,070,920 | ||||
Total Specialty Retail | 294,482,093 | |||||
Technology Hardware, Storage & Peripherals – 4.9% | ||||||
2,214,908 | Apple Inc | 323,066,481 | ||||
Tobacco – 2.2% | ||||||
1,455,944 | Philip Morris International Inc | 145,725,435 | ||||
Total Long-Term Investments (cost $4,137,982,186) | 6,459,724,435 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.3% | ||||||
REPURCHASE AGREEMENTS – 1.3% | ||||||
$ 88,638 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/21, repurchase price $88,638,193, collateralized by $16,194,600, U.S. Treasury Bonds, 1.125%, due 8/15/40, value $14,437,401; $50,000,000, U.S. Treasury Bonds, 1.375%, due 11/15/40, value $46,376,383; $29,147,700, U.S. Treasury Bonds, 1.875%, due 2/15/41, value $29,597,195 | 0.000% | 8/02/21 | $ 88,638,193 | ||
Total Short-Term Investments (cost $88,638,193) | 88,638,193 | |||||
Total Investments (cost $4,226,620,379) – 100.1% | 6,548,362,628 | |||||
Other Assets Less Liabilities – (0.1)% | (8,506,835) | |||||
Net Assets – 100% | $ 6,539,855,793 |
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. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 97.4% | ||||||
COMMON STOCKS – 97.4% | ||||||
Aerospace & Defense – 1.7% | ||||||
935 | Lockheed Martin Corp | $ 347,512 | ||||
Banks – 4.8% | ||||||
3,870 | JPMorgan Chase & Co | 587,388 | ||||
5,526 | Toronto-Dominion Bank | 367,411 | ||||
Total Banks | 954,799 | |||||
Beverages – 1.9% | ||||||
2,376 | PepsiCo Inc | 372,913 | ||||
Biotechnology – 2.1% | ||||||
3,617 | AbbVie Inc | 420,657 | ||||
Capital Markets – 3.5% | ||||||
3,554 | Charles Schwab Corp | 241,494 | ||||
4,017 | Macquarie Group Ltd, (2) | 463,837 | ||||
Total Capital Markets | 705,331 | |||||
Chemicals – 1.9% | ||||||
2,537 | International Flavors & Fragrances Inc | 382,174 | ||||
Communications Equipment – 3.4% | ||||||
6,789 | Cisco Systems Inc | 375,907 | ||||
1,393 | Motorola Solutions Inc | 311,921 | ||||
Total Communications Equipment | 687,828 | |||||
Consumer Finance – 2.1% | ||||||
2,411 | American Express Co | 411,148 | ||||
Containers & Packaging – 3.5% | ||||||
35,691 | Amcor PLC, (2) | 414,022 | ||||
2,068 | Packaging Corp of America | 292,622 | ||||
Total Containers & Packaging | 706,644 | |||||
Diversified Financial Services – 1.7% | ||||||
19,300 | ORIX Corp, (2) | 337,661 | ||||
Diversified Telecommunication Services – 1.9% | ||||||
6,858 | AT&T Inc | 192,367 | ||||
131,487 | HKT Trust & HKT Ltd, (2) | 178,727 | ||||
Total Diversified Telecommunication Services | 371,094 |
Shares | Description (1) | Value | ||||
Electric Utilities – 3.2% | ||||||
4,599 | NextEra Energy Inc | $358,262 | ||||
14,077 | SSE PLC, (2) | 282,237 | ||||
Total Electric Utilities | 640,499 | |||||
Electronic Equipment, Instruments & Components – 0.4% | ||||||
8,200 | Alps Alpine Co Ltd, (2) | 85,353 | ||||
Equity Real Estate Investment Trust – 1.2% | ||||||
3,382 | CyrusOne Inc | 241,035 | ||||
Food Products – 2.0% | ||||||
3,234 | Nestle SA, (2) | 409,520 | ||||
Gas Utilities – 1.9% | ||||||
61,911 | Snam SpA, (2) | 374,489 | ||||
Health Care Equipment & Supplies – 1.8% | ||||||
4,623 | Baxter International Inc | 357,589 | ||||
Health Care Providers & Services – 2.1% | ||||||
1,010 | UnitedHealth Group Inc | 416,342 | ||||
Hotels, Restaurants & Leisure – 1.6% | ||||||
4,624 | Restaurant Brands International Inc | 315,482 | ||||
Household Products – 1.1% | ||||||
2,920 | Reckitt Benckiser Group PLC, (2) | 223,379 | ||||
Industrial Conglomerates – 2.3% | ||||||
1,992 | Honeywell International Inc | 465,710 | ||||
Insurance – 1.9% | ||||||
31,200 | AIA Group Ltd, (2) | 373,332 | ||||
IT Services – 4.1% | ||||||
1,381 | Accenture PLC | 438,716 | ||||
2,627 | Fidelity National Information Services Inc | 391,554 | ||||
Total IT Services | 830,270 | |||||
Media – 2.9% | ||||||
9,889 | Comcast Corp | 581,770 | ||||
Oil, Gas & Consumable Fuels – 5.0% | ||||||
2,513 | Chevron Corp | 255,849 | ||||
7,182 | Enbridge Inc | 283,112 | ||||
2,819 | Phillips 66 | 206,999 | ||||
5,678 | TotalEnergies SE, (2) | 247,599 | ||||
Total Oil, Gas & Consumable Fuels | 993,559 |
Shares | Description (1) | Value | ||||
Personal Products – 1.7% | ||||||
5,976 | Unilever PLC, (2) | $ 343,928 | ||||
Pharmaceuticals – 6.0% | ||||||
27,700 | Astellas Pharma Inc, (2) | 441,188 | ||||
2,196 | Johnson & Johnson | 378,151 | ||||
3,601 | Sanofi, (2) | 371,167 | ||||
Total Pharmaceuticals | 1,190,506 | |||||
Professional Services – 1.3% | ||||||
5,862 | Experian PLC, (2) | 258,079 | ||||
Road & Rail – 2.0% | ||||||
1,788 | Union Pacific Corp | 391,143 | ||||
Semiconductors & Semiconductor Equipment – 3.9% | ||||||
643 | Broadcom Inc | 312,112 | ||||
2,503 | Texas Instruments Inc | 477,122 | ||||
Total Semiconductors & Semiconductor Equipment | 789,234 | |||||
Software – 7.1% | ||||||
3,278 | Microsoft Corp | 933,935 | ||||
3,339 | SAP SE, (2) | 479,184 | ||||
Total Software | 1,413,119 | |||||
Specialty Retail – 2.3% | ||||||
2,425 | Lowe's Cos Inc | 467,273 | ||||
Technology Hardware, Storage & Peripherals – 3.2% | ||||||
4,376 | Apple Inc | 638,283 | ||||
Textiles, Apparel & Luxury Goods – 3.6% | ||||||
1,211 | adidas AG, (2) | 439,536 | ||||
355 | LVMH Moet Hennessy Louis Vuitton SE, (2) | 284,237 | ||||
Total Textiles, Apparel & Luxury Goods | 723,773 | |||||
Tobacco – 2.1% | ||||||
4,151 | Philip Morris International Inc | 415,474 | ||||
Trading Companies & Distributors – 1.9% | ||||||
12,525 | ITOCHU Corp, (2) | 370,730 | ||||
Wireless Telecommunication Services – 2.3% | ||||||
9,300 | KDDI Corp, (2) | 284,428 | ||||
106,741 | Vodafone Group PLC, (2) | 171,634 | ||||
Total Wireless Telecommunication Services | 456,062 | |||||
Total Long-Term Investments (cost $12,592,333) | 19,463,694 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 2.4% | ||||||
REPURCHASE AGREEMENTS – 2.4% | ||||||
$ 482 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/21, repurchase price $482,108, collateralized by $484,300, U.S. Treasury Bonds, 1.875%, due 2/15/41, value $491,769 | 0.000% | 8/02/21 | $ 482,108 | ||
Total Short-Term Investments (cost $482,108) | 482,108 | |||||
Total Investments (cost $13,074,441) – 99.8% | 19,945,802 | |||||
Other Assets Less Liabilities – 0.2% | 48,809 | |||||
Net Assets – 100% | $ 19,994,611 |
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) | For fair value measurement disclosure purposes, investment classified as Level 2. |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.1% | ||||||
COMMON STOCKS – 98.1% | ||||||
Aerospace & Defense – 2.7% | ||||||
16,506 | BAE Systems PLC, (2) | $ 132,337 | ||||
Banks – 5.6% | ||||||
32,446 | BOC Hong Kong Holdings Ltd, (2) | 104,193 | ||||
2,641 | Toronto-Dominion Bank | 175,594 | ||||
Total Banks | 279,787 | |||||
Capital Markets – 4.3% | ||||||
1,875 | Macquarie Group Ltd, (2) | 216,503 | ||||
Chemicals – 10.6% | ||||||
1,324 | Koninklijke DSM NV, (2) | 266,893 | ||||
860 | Linde PLC, (2) | 263,714 | ||||
Total Chemicals | 530,607 | |||||
Containers & Packaging – 3.4% | ||||||
14,853 | Amcor PLC, (2) | 172,297 | ||||
Diversified Financial Services – 3.2% | ||||||
9,200 | ORIX Corp, (2) | 160,958 | ||||
Diversified Telecommunication Services – 2.7% | ||||||
99,400 | HKT Trust & HKT Ltd, (2) | 135,112 | ||||
Electric Utilities – 3.1% | ||||||
7,639 | SSE PLC, (2) | 153,158 | ||||
Electronic Equipment, Instruments & Components – 1.0% | ||||||
4,900 | Alps Alpine Co Ltd, (2) | 51,004 | ||||
Food Products – 2.8% | ||||||
1,094 | Nestle SA, (2) | 138,533 | ||||
Gas Utilities – 3.1% | ||||||
25,619 | Snam SpA, (2) | 154,965 | ||||
Hotels, Restaurants & Leisure – 2.7% | ||||||
1,994 | Restaurant Brands International Inc | 136,045 | ||||
Household Products – 2.0% | ||||||
1,321 | Reckitt Benckiser Group PLC, (2) | 101,056 |
Shares | Description (1) | Value | ||||
Insurance – 2.5% | ||||||
10,400 | AIA Group Ltd, (2) | $ 124,444 | ||||
Oil, Gas & Consumable Fuels – 5.5% | ||||||
3,757 | Enbridge Inc | 148,100 | ||||
2,946 | TotalEnergies SE, (2) | 128,465 | ||||
Total Oil, Gas & Consumable Fuels | 276,565 | |||||
Personal Products – 2.2% | ||||||
1,932 | Unilever PLC, (2) | 111,190 | ||||
Pharmaceuticals – 15.2% | ||||||
12,200 | Astellas Pharma Inc, (2) | 194,314 | ||||
3,848 | Hikma Pharmaceuticals PLC, (2) | 141,496 | ||||
2,597 | Novo Nordisk A/S, (2) | 240,408 | ||||
1,808 | Sanofi, (2) | 186,356 | ||||
Total Pharmaceuticals | 762,574 | |||||
Professional Services – 2.7% | ||||||
3,086 | Experian PLC, (2) | 135,864 | ||||
Real Estate Management & Development – 3.5% | ||||||
59,636 | CapitaLand Ltd, (2) | 177,176 | ||||
Software – 3.7% | ||||||
1,300 | SAP SE, (2) | 186,565 | ||||
Textiles, Apparel & Luxury Goods – 6.5% | ||||||
375 | adidas AG, (2) | 136,107 | ||||
238 | LVMH Moet Hennessy Louis Vuitton SE, (2) | 190,559 | ||||
Total Textiles, Apparel & Luxury Goods | 326,666 | |||||
Trading Companies & Distributors – 4.1% | ||||||
6,900 | ITOCHU Corp, (2) | 204,235 | ||||
Wireless Telecommunication Services – 5.0% | ||||||
4,600 | KDDI Corp, (2) | 140,685 | ||||
66,489 | Vodafone Group PLC, (2) | 106,911 | ||||
Total Wireless Telecommunication Services | 247,596 | |||||
Total Long-Term Investments (cost $3,390,173) | 4,915,237 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 3.1% | ||||||
REPURCHASE AGREEMENTS – 3.1% | ||||||
$ 154 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/21, repurchase price $153,622, collateralized by $154,400, U.S. Treasury Bonds, 1.875%, due 2/15/41, value $156,781 | 0.000% | 8/02/21 | $ 153,622 | ||
Total Short-Term Investments (cost $153,622) | 153,622 | |||||
Total Investments (cost $3,543,795) – 101.2% | 5,068,859 | |||||
Other Assets Less Liabilities – (1.2)% | (58,105) | |||||
Net Assets – 100% | $ 5,010,754 |
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) | For fair value measurement disclosure purposes, investment classified as Level 2. |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Assets | |||
Long-term investments, at value (cost $4,137,982,186, $12,592,333 and $3,390,173, respectively) | $6,459,724,435 | $19,463,694 | $4,915,237 |
Short-term investments, at value (cost approximates value) | 88,638,193 | 482,108 | 153,622 |
Receivable for: | |||
Dividends | 8,719,498 | 38,580 | 11,070 |
Due from affiliate | 42,704 | 267 | 115 |
Reclaims | 90,704 | 11,771 | 4,907 |
Reimbursement from Adviser | — | 45,202 | 14,079 |
Shares sold | 2,918,306 | 1,038 | — |
Other assets | 374,767 | 36,470 | 22,509 |
Total assets | 6,560,508,607 | 20,079,130 | 5,121,539 |
Liabilities | |||
Payable for: | |||
Shares redeemed | 15,330,800 | — | 45 |
Accrued expenses: | |||
Custodian fees | 337,497 | 41,562 | 86,958 |
Management fees | 3,230,257 | — | — |
Professional fees | 118,168 | 19,381 | 19,081 |
Shareholder reporting expenses | 104,828 | 4,725 | 4,061 |
Shareholder servicing agent fees | 500,437 | 14,465 | — |
Trustees fees | 357,656 | 155 | 40 |
12b-1 distribution and service fees | 435,090 | 2,704 | 600 |
Other | 238,081 | 1,527 | — |
Total liabilities | 20,652,814 | 84,519 | 110,785 |
Net assets | $6,539,855,793 | $19,994,611 | $5,010,754 |
Class A Shares | |||
Net assets | $ 837,089,549 | $ 7,242,409 | $1,956,572 |
Shares outstanding | 15,678,844 | 219,919 | 67,049 |
Net asset value ("NAV") per share | $ 53.39 | $ 32.93 | $ 29.18 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 56.65 | $ 34.94 | $ 30.96 |
Class C Shares | |||
Net assets | $ 305,517,544 | $ 1,376,537 | $ 215,836 |
Shares outstanding | 5,729,304 | 41,942 | 7,488 |
NAV and offering price per share | $ 53.33 | $ 32.82 | $ 28.82 |
Class R6 Shares | |||
Net assets | $3,103,203,232 | $ — | $ — |
Shares outstanding | 57,548,482 | — | — |
NAV and offering price per share | $ 53.92 | $ — | $ — |
Class I Shares | |||
Net assets | $2,294,045,468 | $11,375,665 | $2,838,346 |
Shares outstanding | 43,014,527 | 345,538 | 97,155 |
NAV and offering price per share | $ 53.33 | $ 32.92 | $ 29.21 |
Fund level net assets consist of: | |||
Capital paid-in | $4,173,681,388 | $12,435,186 | $3,812,529 |
Total distributable earnings | 2,366,174,405 | 7,559,425 | 1,198,225 |
Fund level net assets | $6,539,855,793 | $19,994,611 | $5,010,754 |
Authorized shares - per class | Unlimited | Unlimited | Unlimited |
Par value per share | $ 0.01 | $ 0.01 | $ 0.01 |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Investment Income | |||
Dividends | $ 116,198,662 | $ 538,436 | $ 158,953 |
Securities lending income, net | 1,163,801 | 3,184 | 34 |
Payment from affiliate | 42,704 | 267 | 115 |
Foreign tax withheld on dividend income | — | (23,783) | (12,957) |
Total investment income | 117,405,167 | 518,104 | 146,145 |
Expenses | |||
Management fees | 31,456,800 | 139,111 | 34,451 |
12b-1 service fees - Class A Shares | 1,773,773 | 16,404 | 4,491 |
12b-1 distribution and service fees - Class C Shares | 3,214,004 | 16,681 | 2,860 |
12b-1 distribution and service fees - Class R3 Shares(1) | 42,728 | 933 | 282 |
Shareholder servicing agent fees | 1,841,122 | 14,004 | 6,731 |
Interest expense | 11,048 | 94 | 19 |
Custodian fees | 275,119 | 31,080 | 67,060 |
Professional fees | 255,744 | 56,839 | 34,018 |
Trustees fees | 136,933 | 498 | 123 |
Shareholder reporting expenses | 258,382 | 38,982 | 14,994 |
Federal and state registration fees | 352,053 | 61,990 | 61,049 |
Other | 25,302 | 6,825 | 6,414 |
Total expenses before fee waiver/expense reimbursement | 39,643,008 | 383,441 | 232,492 |
Fee waiver/expense reimbursement | — | (172,961) | (181,220) |
Net expenses | 39,643,008 | 210,480 | 51,272 |
Net investment income (loss) | 77,762,159 | 307,624 | 94,873 |
Realized and Unrealized Gain (Loss) | |||
Net realized gain (loss) from investments and foreign currency | 44,828,299 | 1,135,040 | 199,065 |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | 1,281,576,719 | 2,715,885 | 589,000 |
Net realized and unrealized gain (loss) | 1,326,405,018 | 3,850,925 | 788,065 |
Net increase (decrease) in net assets from operations | $1,404,167,177 | $4,158,549 | $ 882,938 |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | ||||
Year Ended 7/31/21 | Year Ended 7/31/20 | Year Ended 7/31/21 | Year Ended 7/31/20 | ||
Operations | |||||
Net investment income (loss) | $ 77,762,159 | $ 43,617,502 | $ 307,624 | $ 374,079 | |
Net realized gain (loss) from investments and foreign currency | 44,828,299 | 268,808,922 | 1,135,040 | (244,598) | |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | 1,281,576,719 | (129,819,815) | 2,715,885 | (3,029) | |
Net increase (decrease) in net assets from operations | 1,404,167,177 | 182,606,609 | 4,158,549 | 126,452 | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (30,034,023) | (45,355,921) | (108,634) | (178,866) | |
Class C Shares | (12,159,271) | (34,677,878) | (15,572) | (44,571) | |
Class R3 Shares(1) | (381,530) | (1,305,216) | (2,150) | (3,160) | |
Class R6 Shares | (113,151,114) | (5,703,332) | — | — | |
Class I Shares | (96,179,862) | (169,001,496) | (215,623) | (364,662) | |
Decrease in net assets from distributions to shareholders | (251,905,800) | (256,043,843) | (341,979) | (591,259) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 3,387,084,842 | 807,879,918 | 2,708,950 | 6,318,637 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 197,786,877 | 157,044,267 | 314,389 | 553,132 | |
3,584,871,719 | 964,924,185 | 3,023,339 | 6,871,769 | ||
Cost of shares redeemed | (1,131,746,469) | (1,127,611,280) | (6,351,511) | (9,705,432) | |
Net increase (decrease) in net assets from Fund share transactions | 2,453,125,250 | (162,687,095) | (3,328,172) | (2,833,663) | |
Net increase (decrease) in net assets | 3,605,386,627 | (236,124,329) | 488,398 | (3,298,470) | |
Net assets at the beginning of period | 2,934,469,166 | 3,170,593,495 | 19,506,213 | 22,804,683 | |
Net assets at the end of period | $ 6,539,855,793 | $ 2,934,469,166 | $19,994,611 | $19,506,213 |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Santa Barbara International Dividend Growth | ||
Year Ended 7/31/21 | Year Ended 7/31/20 | |
Operations | ||
Net investment income (loss) | $ 94,873 | $ 96,972 |
Net realized gain (loss) from investments and foreign currency | 199,065 | (93,052) |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | 589,000 | (34,864) |
Net increase (decrease) in net assets from operations | 882,938 | (30,944) |
Distributions to Shareholders | ||
Dividends: | ||
Class A Shares | (39,896) | (29,539) |
Class C Shares | (4,047) | (3,839) |
Class R3 Shares(1) | (730) | (744) |
Class R6 Shares | — | — |
Class I Shares | (67,537) | (36,250) |
Decrease in net assets from distributions to shareholders | (112,210) | (70,372) |
Fund Share Transactions | ||
Proceeds from sale of shares | 371,864 | 1,690,275 |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 79,516 | 49,138 |
451,380 | 1,739,413 | |
Cost of shares redeemed | (1,069,389) | (1,867,329) |
Net increase (decrease) in net assets from Fund share transactions | (618,009) | (127,916) |
Net increase (decrease) in net assets | 152,719 | (229,232) |
Net assets at the beginning of period | 4,858,035 | 5,087,267 |
Net assets at the end of period | $ 5,010,754 | $ 4,858,035 |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 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 (03/06) | |||||||||
2021 | $43.32 | $0.62 | $11.55 | $12.17 | $(0.58) | $(1.52) | $(2.10) | $53.39 | |
2020 | 44.21 | 0.61 | 2.28 | 2.89 | (0.67) | (3.11) | (3.78) | 43.32 | |
2019 | 42.61 | 0.65 | 3.49 | 4.14 | (0.60) | (1.94) | (2.54) | 44.21 | |
2018 | 38.84 | 0.58 | 4.98 | 5.56 | (0.56) | (1.23) | (1.79) | 42.61 | |
2017 | 35.52 | 0.58 | 3.30 | 3.88 | (0.56) | 0.00 | (0.56) | 38.84 | |
Class C (03/06) | |||||||||
2021 | 43.28 | 0.26 | 11.54 | 11.80 | (0.23) | (1.52) | (1.75) | 53.33 | |
2020 | 44.16 | 0.29 | 2.29 | 2.58 | (0.35) | (3.11) | (3.46) | 43.28 | |
2019 | 42.53 | 0.34 | 3.49 | 3.83 | (0.26) | (1.94) | (2.20) | 44.16 | |
2018 | 38.77 | 0.27 | 4.98 | 5.25 | (0.26) | (1.23) | (1.49) | 42.53 | |
2017 | 35.46 | 0.30 | 3.30 | 3.60 | (0.29) | 0.00 | (0.29) | 38.77 | |
Class R6 (03/13) | |||||||||
2021 | 43.74 | 0.78 | 11.66 | 12.44 | (0.74) | (1.52) | (2.26) | 53.92 | |
2020 | 44.62 | 0.75 | 2.30 | 3.05 | (0.82) | (3.11) | (3.93) | 43.74 | |
2019 | 43.03 | 0.78 | 3.54 | 4.32 | (0.79) | (1.94) | (2.73) | 44.62 | |
2018 | 39.19 | 0.70 | 5.04 | 5.74 | (0.67) | (1.23) | (1.90) | 43.03 | |
2017 | 35.81 | 0.70 | 3.34 | 4.04 | (0.66) | 0.00 | (0.66) | 39.19 | |
Class I (03/06) | |||||||||
2021 | 43.28 | 0.74 | 11.53 | 12.27 | (0.70) | (1.52) | (2.22) | 53.33 | |
2020 | 44.17 | 0.72 | 2.28 | 3.00 | (0.78) | (3.11) | (3.89) | 43.28 | |
2019 | 42.64 | 0.75 | 3.49 | 4.24 | (0.77) | (1.94) | (2.71) | 44.17 | |
2018 | 38.87 | 0.68 | 4.99 | 5.67 | (0.67) | (1.23) | (1.90) | 42.64 | |
2017 | 35.54 | 0.66 | 3.32 | 3.98 | (0.65) | 0.00 | (0.65) | 38.87 |
Ratios/Supplemental Data | |||||
Ratios to Average Net Assets(d) | |||||
Total Return(b), (c) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Net Investment Income(Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) |
28.85% | $ 837,090 | 0.92% | 1.29% | 1.29% | 15% |
6.54 | 624,209 | 0.95 | 1.42 | N/A | 25 |
10.29 | 497,332 | 0.96 | 1.57 | N/A | 31 |
14.56 | 464,170 | 0.96 | 1.42 | N/A | 28 |
11.04 | 449,109 | 0.97 | 1.61 | N/A | 22 |
27.89 | 305,518 | 1.67 | 0.55 | 0.55 | 15 |
5.75 | 328,375 | 1.70 | 0.67 | N/A | 25 |
9.46 | 499,839 | 1.71 | 0.82 | N/A | 31 |
13.70 | 491,639 | 1.71 | 0.67 | N/A | 28 |
10.21 | 507,089 | 1.72 | 0.83 | N/A | 22 |
29.24 | 3,103,203 | 0.62 | 1.57 | 1.57 | 15 |
6.86 | 69,249 | 0.64 | 1.73 | N/A | 25 |
10.66 | 80,768 | 0.65 | 1.88 | N/A | 31 |
14.91 | 64,717 | 0.64 | 1.69 | N/A | 28 |
11.41 | 26,984 | 0.65 | 1.91 | N/A | 22 |
29.15 | 2,294,045 | 0.67 | 1.54 | 1.54 | 15 |
6.82 | 1,901,783 | 0.70 | 1.67 | N/A | 25 |
10.57 | 2,072,824 | 0.71 | 1.82 | N/A | 31 |
14.84 | 2,131,227 | 0.71 | 1.66 | N/A | 28 |
11.34 | 1,853,930 | 0.72 | 1.81 | N/A | 22 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the fiscal year ended 2021, the Fund received voluntary compensation from the Adviser. The Fund’s Total Return 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 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) | The Fund has a contractual fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee waiver/expense reimbursement during the periods presented herein. See Note 7 - Management Fees and Other Transactions with Affiliates 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) divided by the average long-term market value during the period. |
N/A | Fund did not have Payments From Affiliates for periods prior to the fiscal year ended July 31, 2021. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 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 (06/12) | |||||||||
2021 | $27.15 | $0.45 | $5.83 | $6.28 | $(0.50) | $ — | $(0.50) | $32.93 | |
2020 | 27.29 | 0.44 | 0.13 | 0.57 | (0.44) | (0.27) | (0.71) | 27.15 | |
2019 | 27.81 | 0.52 | 0.10 | 0.62 | (0.56) | (0.58) | (1.14) | 27.29 | |
2018 | 28.67 | 0.48 | 2.34 | 2.82 | (0.43) | (3.25) | (3.68) | 27.81 | |
2017 | 26.65 | 0.51 | 2.53 | 3.04 | (0.99) | (0.03) | (1.02) | 28.67 | |
Class C (06/12) | |||||||||
2021 | 27.06 | 0.22 | 5.82 | 6.04 | (0.28) | — | (0.28) | 32.82 | |
2020 | 27.20 | 0.23 | 0.14 | 0.37 | (0.24) | (0.27) | (0.51) | 27.06 | |
2019 | 27.73 | 0.31 | 0.10 | 0.41 | (0.36) | (0.58) | (0.94) | 27.20 | |
2018 | 28.59 | 0.26 | 2.35 | 2.61 | (0.22) | (3.25) | (3.47) | 27.73 | |
2017 | 26.57 | 0.32 | 2.51 | 2.83 | (0.78) | (0.03) | (0.81) | 28.59 | |
Class I (06/12) | |||||||||
2021 | 27.14 | 0.52 | 5.84 | 6.36 | (0.58) | — | (0.58) | 32.92 | |
2020 | 27.28 | 0.51 | 0.13 | 0.64 | (0.51) | (0.27) | (0.78) | 27.14 | |
2019 | 27.81 | 0.58 | 0.10 | 0.68 | (0.63) | (0.58) | (1.21) | 27.28 | |
2018 | 28.67 | 0.53 | 2.36 | 2.89 | (0.50) | (3.25) | (3.75) | 27.81 | |
2017 | 26.65 | 0.60 | 2.50 | 3.10 | (1.05) | (0.03) | (1.08) | 28.67 |
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) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
23.33% | $ 7,242 | 2.02% | 0.61% | 0.61% | 1.15% | 1.49% | 1.49% | 12% | |
2.14 | 5,888 | 1.69 | 1.07 | N/A | 1.15 | 1.61 | N/A | 33 | |
2.58 | 7,444 | 1.77 | 1.33 | N/A | 1.15 | 1.94 | N/A | 22 | |
10.35 | 8,961 | 1.88 | 0.99 | N/A | 1.15 | 1.73 | N/A | 48 | |
11.55 | 6,188 | 1.25 | 1.78 | N/A | 1.15 | 1.88 | N/A | 33 | |
22.43 | 1,377 | 2.77 | (0.15) | (0.15) | 1.90 | 0.73 | 0.73 | 12 | |
1.32 | 1,934 | 2.44 | 0.33 | N/A | 1.90 | 0.87 | N/A | 33 | |
1.81 | 2,566 | 2.52 | 0.54 | N/A | 1.90 | 1.17 | N/A | 22 | |
9.55 | 3,278 | 2.63 | 0.20 | N/A | 1.90 | 0.93 | N/A | 48 | |
10.75 | 2,856 | 2.00 | 1.08 | N/A | 1.90 | 1.18 | N/A | 33 | |
23.64 | 11,376 | 1.77 | 0.85 | 0.85 | 0.90 | 1.73 | 1.73 | 12 | |
2.37 | 11,488 | 1.44 | 1.37 | N/A | 0.90 | 1.91 | N/A | 33 | |
2.84 | 12,682 | 1.52 | 1.57 | N/A | 0.90 | 2.19 | N/A | 22 | |
10.63 | 10,049 | 1.61 | 1.19 | N/A | 0.90 | 1.90 | N/A | 48 | |
11.83 | 8,813 | 1.01 | 2.09 | N/A | 0.90 | 2.20 | N/A | 33 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the fiscal year ended 2021, the Fund received voluntary compensation from the Adviser. The Fund’s Total Return 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 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 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) divided by the average long-term market value during the period. |
N/A | Fund did not have Payments From Affiliates for periods prior to the fiscal year ended July 31, 2021. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | |||||||||
Class (Commencement Date) Year Ended July 31, | Beginning NAV | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Return of Capital | Total | Ending NAV | |
Class A (06/12) | ||||||||||
2021 | $24.93 | $0.51 | $ 4.34 | $ 4.85 | $(0.60) | $ — | $ — | $(0.60) | $29.18 | |
2020 | 25.85 | 0.46 | (1.02) | (0.56) | (0.36) | — | — | (0.36) | 24.93 | |
2019 | 27.30 | 0.62 | (1.05) | (0.43) | (0.90) | — | (0.12) | (1.02) | 25.85 | |
2018 | 26.90 | 0.59 | 0.45 | 1.04 | (0.64) | — | — | (0.64) | 27.30 | |
2017 | 24.85 | 0.73 | 2.10 | 2.83 | (0.78) | — | — | (0.78) | 26.90 | |
Class C (06/12) | ||||||||||
2021 | 24.66 | 0.24 | 4.34 | 4.58 | (0.42) | — | — | (0.42) | 28.82 | |
2020 | 25.60 | 0.30 | (1.04) | (0.74) | (0.20) | — | — | (0.20) | 24.66 | |
2019 | 27.02 | 0.37 | (0.97) | (0.60) | (0.70) | — | (0.12) | (0.82) | 25.60 | |
2018 | 26.67 | 0.42 | 0.40 | 0.82 | (0.47) | — | — | (0.47) | 27.02 | |
2017 | 24.64 | 0.58 | 2.04 | 2.62 | (0.59) | — | — | (0.59) | 26.67 | |
Class I (06/12) | ||||||||||
2021 | 24.96 | 0.56 | 4.36 | 4.92 | (0.67) | — | — | (0.67) | 29.21 | |
2020 | 25.88 | 0.57 | (1.07) | (0.50) | (0.42) | — | — | (0.42) | 24.96 | |
2019 | 27.33 | 0.89 | (1.25) | (0.36) | (0.97) | — | (0.12) | (1.09) | 25.88 | |
2018 | 26.93 | 0.71 | 0.40 | 1.11 | (0.71) | — | — | (0.71) | 27.33 | |
2017 | 24.88 | 0.89 | 2.01 | 2.90 | (0.85) | — | — | (0.85) | 26.93 |
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) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
19.70% | $1,957 | 4.85% | (1.82) % | (1.82) % | 1.14% | 1.89% | 1.89% | 18% | |
(2.12) | 1,703 | 4.19 | (1.22) | N/A | 1.15 | 1.82 | N/A | 49 | |
(1.56) | 2,597 | 3.29 | 0.24 | N/A | 1.15 | 2.39 | N/A | 101 | |
3.92 | 2,049 | 3.56 | (0.27) | N/A | 1.15 | 2.14 | N/A | 31 | |
11.65 | 2,132 | 4.53 | (0.45) | N/A | 1.15 | 2.92 | N/A | 25 | |
18.79 | 216 | 5.60 | (2.80) | (2.80) | 1.89 | 0.91 | 0.91 | 18 | |
(2.89) | 456 | 4.94 | (1.84) | N/A | 1.90 | 1.20 | N/A | 49 | |
(2.24) | 464 | 4.05 | (0.71) | N/A | 1.90 | 1.43 | N/A | 101 | |
3.13 | 636 | 4.33 | (0.88) | N/A | 1.90 | 1.55 | N/A | 31 | |
10.81 | 785 | 5.19 | (0.98) | N/A | 1.90 | 2.31 | N/A | 25 | |
19.98 | 2,838 | 4.60 | (1.62) | (1.62) | 0.89 | 2.09 | 2.09 | 18 | |
(1.86) | 2,637 | 3.94 | (0.77) | N/A | 0.90 | 2.28 | N/A | 49 | |
(1.30) | 1,962 | 3.05 | 1.24 | N/A | 0.90 | 3.40 | N/A | 101 | |
4.18 | 2,330 | 3.32 | 0.15 | N/A | 0.90 | 2.58 | N/A | 31 | |
11.92 | 2,431 | 4.14 | 0.28 | N/A | 0.90 | 3.52 | N/A | 25 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the fiscal year ended 2021, the Fund received voluntary compensation from the Adviser. The Fund’s Total Return 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 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 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) divided by the average long-term market value during the period. |
N/A | Fund did not have Payments From Affiliates for periods prior to the fiscal year ended July 31, 2021. |
Santa Barbara Global Dividend Growth | Value | % of Net Assets |
Country: | ||
Japan | $1,519,360 | 7.6% |
United Kingdom | 1,279,257 | 6.4 |
Canada | 966,005 | 4.8 |
Germany | 918,720 | 4.6 |
France | 903,003 | 4.5 |
Hong Kong | 552,059 | 2.8 |
Australia | 463,837 | 2.3 |
Switzerland | 409,520 | 2.1 |
Italy | 374,489 | 1.9 |
Total non-U.S. securities | $7,386,250 | 37.0% |
Santa Barbara International Dividend Growth | Value | % of Net Assets |
Country: | ||
United Kingdom | $1,145,726 | 22.9% |
Japan | 751,196 | 15.0 |
France | 505,380 | 10.1 |
Canada | 459,739 | 9.2 |
Germany | 322,672 | 6.4 |
Netherlands | 266,893 | 5.3 |
Hong Kong | 259,556 | 5.2 |
Denmark | 240,408 | 4.8 |
Australia | 216,503 | 4.3 |
Other | 574,867 | 11.5 |
Total non-U.S. securities | $4,742,940 | 94.7% |
Santa Barbara Dividend Growth | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $6,459,724,435 | $ — | $ — | $6,459,724,435 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 88,638,193 | — | 88,638,193 |
Total | $6,459,724,435 | $88,638,193 | $ — | $6,548,362,628 |
Santa Barbara Global Dividend Growth | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $12,629,427 | $6,834,267** | $ — | $19,463,694 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 482,108 | — | 482,108 |
Total | $12,629,427 | $7,316,375 | $ — | $19,945,802 |
Santa Barbara International Dividend Growth | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $459,739 | $4,455,498** | $ — | $4,915,237 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 153,622 | — | 153,622 |
Total | $459,739 | $4,609,120 | $ — | $5,068,859 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 2. |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty |
Santa Barbara Dividend Growth | Fixed Income Clearing Corporation | $88,638,193 | $(90,410,979) |
Santa Barbara Global Dividend Growth | Fixed Income Clearing Corporation | 482,108 | (491,769) |
Santa Barbara International Dividend Growth | Fixed Income Clearing Corporation | 153,622 | (156,781) |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Purchases | $3,052,298,868 | $2,237,536 | $ 833,955 |
Sales | 776,065,939 | 5,626,224 | 1,353,261 |
Year Ended 7/31/21 | Year Ended 7/31/20 | ||||
Santa Barbara Dividend Growth | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 3,266,542 | $ 157,028,203 | 5,895,509 | $ 254,025,405 | |
Class A – automatic conversion of Class C Shares | 20,661 | 1,037,900 | 4,017 | 167,863 | |
Class A - automatic conversion of Class R3 Shares | 198,562 | 10,392,748 | — | — | |
Class C | 816,810 | 38,953,736 | 1,577,942 | 66,595,218 | |
Class R3(1) | 19,961 | 955,579 | 65,467 | 2,821,159 | |
Class R6 | 61,913,458 | 2,841,839,998 | 590,916 | 25,902,644 | |
Class I | 7,058,483 | 336,876,678 | 10,968,367 | 458,367,629 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 409,696 | 19,105,787 | 760,205 | 33,356,612 | |
Class C | 188,278 | 8,692,087 | 445,872 | 19,643,362 | |
Class R3(1) | 7,612 | 354,578 | 24,127 | 1,070,843 | |
Class R6 | 2,369,435 | 112,480,628 | 106,399 | 4,701,437 | |
Class I | 1,226,084 | 57,153,797 | 2,244,481 | 98,272,013 | |
77,495,582 | 3,584,871,719 | 22,683,302 | 964,924,185 | ||
Shares redeemed: | |||||
Class A | (2,624,692) | (123,865,043) | (3,500,382) | (145,999,696) | |
Class C | (2,842,387) | (135,825,160) | (5,750,235) | (245,801,160) | |
Class C – automatic conversion to Class A Shares | (20,678) | (1,037,900) | (4,023) | (167,863) | |
Class R3(1) | (79,041) | (3,700,510) | (286,280) | (12,587,497) | |
Class R3 – automatic conversion to Class A Shares | (196,982) | (10,392,748) | — | — | |
Class R6 | (8,317,493) | (417,212,298) | (924,316) | (40,812,202) | |
Class I | (9,215,552) | (439,712,810) | (16,195,581) | (682,242,862) | |
(23,296,825) | (1,131,746,469) | (26,660,817) | (1,127,611,280) | ||
Net increase (decrease) | 54,198,757 | $ 2,453,125,250 | (3,977,515) | $ (162,687,095) |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Year Ended 7/31/21 | Year Ended 7/31/20 | ||||
Santa Barbara Global Dividend Growth | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 47,120 | $ 1,420,304 | 92,325 | $ 2,565,352 | |
Class A – automatic conversion of Class C Shares | 2,752 | 87,122 | 52 | 1,394 | |
Class A - automatic conversion of Class R3 Shares | 4,952 | 164,001 | — | — | |
Class C | 2,865 | 84,817 | 4,447 | 124,085 | |
Class R3(1) | 362 | 10,314 | 3,023 | 75,720 | |
Class I | 31,365 | 942,392 | 131,490 | 3,552,086 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 3,570 | 106,983 | 6,479 | 177,095 | |
Class C | 506 | 14,830 | 1,555 | 42,784 | |
Class R3(1) | 50 | 1,429 | 58 | 1,562 | |
Class I | 6,419 | 191,147 | 12,280 | 331,691 | |
99,961 | 3,023,339 | 251,709 | 6,871,769 | ||
Shares redeemed: | |||||
Class A | (55,385) | (1,693,545) | (154,758) | (4,229,734) | |
Class C | (30,154) | (896,608) | (28,801) | (733,334) | |
Class C – automatic conversion to Class A Shares | (2,761) | (87,122) | (52) | (1,394) | |
Class R3(1) | (2,662) | (87,313) | (31) | (835) | |
Class R3 – automatic conversion to Class A Shares | (4,965) | (164,001) | — | — | |
Class I | (115,603) | (3,422,922) | (185,277) | (4,740,135) | |
(211,530) | (6,351,511) | (368,919) | (9,705,432) | ||
Net increase (decrease) | (111,569) | $(3,328,172) | (117,210) | $(2,833,663) |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Year Ended 7/31/21 | Year Ended 7/31/20 | ||||
Santa Barbara International Dividend Growth | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 9,752 | $ 262,793 | 10,422 | $ 275,786 | |
Class A – automatic conversion of Class C Shares | 2,471 | 69,400 | — | — | |
Class C | 543 | 15,700 | 1,746 | 48,383 | |
Class I | 885 | 23,971 | 62,043 | 1,366,106 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 1,384 | 37,175 | 1,146 | 27,655 | |
Class C | 127 | 3,364 | 133 | 3,151 | |
Class I | 1,454 | 38,977 | 750 | 18,332 | |
16,616 | 451,380 | 76,240 | 1,739,413 | ||
Shares redeemed: | |||||
Class A | (14,844) | (396,956) | (43,736) | (1,043,484) | |
Class C | (9,188) | (234,660) | (1,499) | (38,549) | |
Class C – automatic conversion to Class A Shares | (2,500) | (69,400) | — | — | |
Class R3(1) | (2,500) | (73,900) | — | — | |
Class I | (10,826) | (294,473) | (32,959) | (785,296) | |
(39,858) | (1,069,389) | (78,194) | (1,867,329) | ||
Net increase (decrease) | (23,242) | $ (618,009) | (1,954) | $ (127,916) |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Tax cost of investments | $4,232,112,329 | $13,192,138 | $3,746,568 |
Gross unrealized: | |||
Appreciation | $2,328,526,225 | $ 7,098,223 | $1,548,303 |
Depreciation | (12,275,926) | (344,559) | (226,012) |
Net unrealized appreciation (depreciation) of investments | $2,316,250,299 | $ 6,753,664 | $1,322,291 |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Undistributed net ordinary income1 | $18,946,176 | $ 16,994 | $36,213 |
Undistributed net long-term capital gains | 30,977,930 | 788,235 | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
2021 | Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth |
Distributions from net ordinary income1 | $ 72,999,270 | $341,979 | $112,210 |
Distributions from net long-term capital gains | 178,906,530 | — | — |
2020 | Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth |
Distributions from net ordinary income1 | $ 47,934,932 | $366,930 | $70,372 |
Distributions from net long-term capital gains | 208,108,911 | 224,329 | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Santa Barbara International Dividend Growth | |
Not subject to expiration: | |
Short-term | $ — |
Long-term | 160,362 |
Total | $160,362 |
Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Utilized capital loss carryforwards | $275,940 | $176,328 |
Average Daily Net Assets | Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth |
For the first $125 million | 0.5000% | 0.5500% | 0.5500% |
For the next $125 million | 0.4875 | 0.5375 | 0.5375 |
For the next $250 million | 0.4750 | 0.5250 | 0.5250 |
For the next $500 million | 0.4625 | 0.5125 | 0.5125 |
For the next $1 billion | 0.4500 | 0.5000 | 0.5000 |
For the next $3 billion | 0.4250 | 0.4750 | 0.4750 |
For the next $2.5 billion | 0.4000 | 0.4500 | 0.4500 |
For the next $2.5 billion | 0.3875 | 0.4375 | 0.4375 |
For net assets over $10 billion | 0.3750 | 0.4250 | 0.4250 |
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 |
Santa Barbara Dividend Growth | 0.1541% |
Santa Barbara Global Dividend Growth | 0.1536% |
Santa Barbara International Dividend Growth | 0.1536% |
Fund | Temporary Expense Cap | Temporary Expense Cap Expiration Date | Permanent Expense Cap |
Santa Barbara Dividend Growth | N/A | N/A | 1.25% |
Santa Barbara Global Dividend Growth | 0.94% | July 31, 2023 | N/A |
Santa Barbara International Dividend Growth | 0.94% | July 31, 2023 | N/A |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Sales charges collected (Unaudited) | $397,568 | $7,313 | $ — |
Paid to financial intermediaries (Unaudited) | 364,937 | 6,774 | — |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Commission advances (Unaudited) | $440,459 | $2,610 | $157 |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
12b-1 fees retained (Unaudited) | $353,298 | $883 | $529 |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
CDSC retained (Unaudited) | $32,596 | $985 | $ — |
Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
Nuveen owned shares | 8% | 28% |
• | Nuveen Santa Barbara Dividend Growth Fund to Nuveen Dividend Growth Fund; |
• | Nuveen Santa Barbara Global Dividend Growth Fund to Nuveen Global Dividend Growth Fund; and |
• | Nuveen Santa Barbara International Dividend Growth Fund to Nuveen International Dividend Growth Fund. |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | |
Long-Term Capital Gain Dividends | $178,906,530 | $57,148 |
Santa Barbara Dividend Growth | Santa Barbara Global Dividend Growth | Santa Barbara International Dividend Growth | |
% of DRD | 100.0% | 76.4% | 0.0% |
% of QDI | 100.0% | 100.0% | 100.0% |
• | Centralization of Functions – ongoing initiatives to centralize investment leadership, market approach and shared support functions within Nuveen and its affiliates in seeking to operate more effectively the business and enhance the services to the Nuveen funds; |
• | Fund Improvements and Product Management Initiatives – continuing to proactively manage the Nuveen fund complex as a whole and at the individual fund level with an aim to continually improve product platforms and investment strategies to better serve shareholders through, among other things, rationalizing the product line and gaining efficiencies through mergers, repositionings and liquidations; launching new funds; reviewing and updating investment policies and benchmarks; and modifying portfolio management teams for various funds; |
• | Investment Team Integrations – continuing to integrate and adjust the members of certain investment teams, in part, to allow greater access to tools and resources within the Nuveen organization and its affiliates; |
• | Capital Initiatives – continuing to invest capital to support new Nuveen funds with initial capital as well as to support existing funds and facilitate regulatory or logistical changes; |
• | Liquidity Management – continuing to operate the liquidity management program of the applicable Nuveen funds including monitoring daily their liquidity profile and assessing annually the overall liquidity risk of such funds; |
• | Compliance Program Initiatives – continuing efforts to mitigate compliance risk, increase operating efficiencies, implement enhancements to strengthen key compliance program elements and support international business growth and other corporate objectives; |
• | Investment Oversight – preparing reports to the Board addressing, among other things, fund performance; market conditions; investment teams; new products; changes to mandates, policies and benchmarks; and other management proposals; |
• | Risk Management and Valuation Services - continuing to oversee and manage risk including, among other things, conducting daily calculations and monitoring of risk measures across the Nuveen funds, instituting appropriate investment risk controls, providing risk reporting throughout the firm, participating in internal oversight committees, and continuing to implement an operational risk framework that seeks to provide greater transparency of operational risk matters across the complex as well as provide multiple other risk programs that seek to provide a more disciplined and consistent approach to identifying and mitigating Nuveen’s operational risks. Further, the securities valuation team continues, among other things, to oversee the daily valuation process of the portfolio securities of the funds, maintains the valuation policies and procedures, facilitates valuation committee meetings, manages relationships with pricing vendors, and prepares relevant valuation reports and designs methods to simplify and enhance valuation workflow within the organization; |
• | Regulatory Matters – continuing efforts to monitor regulatory trends and advocate on behalf of Nuveen and/or the Nuveen funds, to implement and comply with new or revised rules and mandates and to respond to regulatory inquiries and exams; |
• | Government Relations – continuing efforts of various Nuveen teams and Nuveen’s affiliates to develop policy positions on a broad range of issues that may impact the Nuveen funds, advocate and communicate these positions to lawmakers and other regulatory authorities and work with trade associations to ensure these positions are represented; |
• | Business Continuity, Disaster Recovery and Information Security – continuing efforts of Nuveen to periodically test and update business continuity and disaster recovery plans and, together with its affiliates, to maintain an information security program designed to identify and manage information security risks, and provide reports to the Board, at least annually, addressing, among other things, management’s security risk assessment, cyber risk profile, potential impact of new or revised laws and regulations, incident tracking and other relevant information technology risk-related reports; and |
• | Dividend Management Services – continuing to manage the dividends among the varying types of Nuveen funds within the Nuveen complex to be consistent with the respective fund’s product design and positioning in striving to deliver those earnings to shareholders in a relatively consistent manner over time as well as assisting in the development of new products or the restructuring of existing funds. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Independent Trustees: | ||||
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606 | Chair and Trustee | 2008 | Formerly, a Co-Founding Partner, Promus Capital (investment advisory firm) (2008-2017); Director, Quality Control Corporation (manufacturing) (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (philanthropy) (since 2012), and chair of its investment committee; formerly, Director, Fulcrum IT Services LLC (information technology services firm to government entities) (2010-2019); formerly, Director, LogicMark LLC (health services) (2012-2016); formerly, Director, Legal & General Investment Management America, Inc. (asset management) (2008-2013); formerly, CEO and President, Northern Trust Global Investments (financial services) (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (financial services) (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003- 2007) and Northern Trust Hong Kong Board (1997-2004). | 146 |
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1999 | Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine Foundation, (private philanthropic corporation); Life Trustee of Coe College and the Iowa College Foundation; formerly, Member and President Pro-Tem of the Board of Regents for the State of Iowa University System (2007- 2013); Director and Chairman (2009-2021), United Fire Group, a publicly held company; Director, Public Member, American Board of Orthopaedic Surgery (2015-2020); Director (2000-2004), Alliant Energy; Director (1996-2015), The Gazette Company (media and publishing); Director (1997- 2003), Federal Reserve Bank of Chicago; President and Chief Operating Officer (1972-1995), SCI Financial Group, Inc., (regional financial services firm). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2003 | Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010- 2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University. | 146 |
Amy B. R. Lancellotta 1959 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Independent Directors Council (IDC) (supports the fund independent director community and is part of the Investment Company Institute (ICI), which represents regulated investment companies) (2006-2019); formerly, various positions with ICI (1989-2006); Member of the Board of Directors, Jewish Coalition Against Domestic Abuse (JCADA) (since 2020). | 146 |
Joanne T. Medero 1954 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Government Relations and Public Policy (2009-2020) and Senior Advisor to the Vice Chairman (2018-2020), BlackRock, Inc. (global investment management firm); formerly, Managing Director, Global Head of Government Relations and Public Policy, Barclays Group (IBIM) (investment banking, investment management and wealth management businesses)(2006-2009); formerly, Managing Director, Global General Counsel and Corporate Secretary, Barclays Global Investors (global investment management firm) (1996-2006); formerly, Partner, Orrick, Herrington & Sutcliffe LLP (law firm) (1993-1995); formerly, General Counsel, Commodity Futures Trading Commission (government agency overseeing U.S. derivatives markets) (1989-1993); formerly, Deputy Associate Director/Associate Director for Legal and Financial Affairs, Office of Presidential Personnel, The White House (1986-1989); Member of the Board of Directors, Baltic-American Freedom Foundation (seeks to provide opportunities for citizens of the Baltic states to gain education and professional development through exchanges in the U.S.) (since 2019). | 146 |
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc. (consumer wireless services), including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996) including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2013 | Member of Board of Directors of Core12 LLC. (private firm which develops branding, marketing and communications strategies for clients) (since 2008); served The President's Council of Fordham University (2010-2019) and previously a Director of the Curran Center for Catholic American Studies (2009-2018); formerly, senior external advisor to the Financial Services practice of Deloitte Consulting LLP. (2012-2014); former Chair of the Board of Trustees of Marian University (2010-2014 as trustee, 2011-2014 as Chair); formerly Chief Executive Officer of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division (2007-2008), with various executive leadership roles in ABN AMRO Bank N.V. between 1996 and 2007. | 146 |
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1997 | Board Member, Land Trust Alliance (national public charity addressing natural land and water conservation in the U.S.) (since 2013); formerly, Board Member, U.S. Endowment for Forestry and Communities (national endowment addressing forest health, sustainable forest production and markets, and economic health of forest-reliant communities in the U.S.) (2013-2019); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation (private foundation endowed to support both natural land conservation and artistic vitality); prior thereto, Executive Director, Great Lakes Protection Fund (endowment created jointly by seven of the eight Great Lakes states' Governors to take a regional approach to improving the health of the Great Lakes) (1990-1994). | 146 |
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2007 | Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); formerly, Director, Cboe Global Markets, Inc., (2010-2020) (formerly named CBOE Holdings, Inc.); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010). | 146 |
Matthew Thornton III 1958 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2020 | Formerly, Executive Vice President and Chief Operating Officer (2018-2019), FedEx Freight Corporation, a subsidiary of FedEx Corporation ("FedEx") (provider of transportation, e-commerce and business services through its portfolio of companies); formerly, Senior Vice President, U.S. Operations (2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly Member of the Board of Directors (2012-2018), Safe Kids Worldwide® (a non-profit organization dedicated to preventing childhood injuries). Member of the Board of Directors (since 2014), The Sherwin-Williams Company (develops, manufactures, distributes and sells paints, coatings and related products); Director (since 2020), Crown Castle International (provider of communications infrastructure). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (legal services, Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College. | 146 |
Robert L. Young 1963 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2017 | Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (financial services) (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (financial services) (formerly, One Group Dealer Services, Inc.) (1999-2017). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Officers of the Funds: | ||||
Christopher E. Stickrod 1976 333 W. Wacker Drive Chicago, IL 60606 | Chief Administrative Officer | 2020 | Senior Managing Director (since 2017) and Head of Advisory Product (since 2020), formerly, Managing Director (2016-2017) and Senior Vice President (2013-2016) of Nuveen; Senior Managing Director of Nuveen Securities, LLC (since 2018) and of Nuveen Fund Advisors, LLC (since 2019). | |
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402 | Vice President and Secretary | 2013 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2018). | |
Diana R. Gonzalez 1978 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2017 | Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management, LLC (2012-2017). | |
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Treasurer | 2016 | Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Managing Director (since 2015) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst. | |
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2002 | Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC. | |
Brian J. Lockhart 1974 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2019 | Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Vice President (2010-2017) of Nuveen; Head of Investment Oversight (since 2017), formerly, Team Leader of Manager Oversight (2015-2017); Chartered Financial Analyst and Certified Financial Risk Manager. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Jacques M. Longerstaey 1963 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President | 2019 | Senior Managing Director, Chief Risk Officer, Nuveen (since May 2019); Senior Managing Director (since May 2019) of Nuveen Fund Advisors, LLC; formerly, Chief Investment and Model Risk Officer, Wealth & Investment Management Division, Wells Fargo Bank (NA) (2013-2019). | |
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2007 | Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Fund Advisors, LLC, formerly, Co-General Counsel (2011-2020), Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) of Nuveen Asset Management, LLC, formerly, Associate General Counsel (2011-2020), Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC. | |
Jon Scott Meissner 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Assistant Secretary | 2019 | Managing Director of Mutual Fund Tax and Financial Reporting groups at Nuveen (since 2017); Managing Director of Nuveen Fund Advisors, LLC (since 2019); Senior Director of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC (since 2016); Senior Director (since 2015) Mutual Fund Taxation to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the CREF Accounts; has held various positions with TIAA since 2004. | |
Deann D. Morgan 1969 730 Third Avenue New York, NY 10017 | Vice President | 2020 | President, Nuveen Fund Advisors, LLC (since 2020); Executive Vice President, Global Head of Product at Nuveen (since 2019); Co-Chief Executive Officer of Nuveen Securities, LLC (since 2020); Managing Member of MDR Collaboratory LLC (since 2018); Managing Director, Head of Wealth Management Product Structuring & COO Multi Asset Investing. The Blackstone Group (2013-2017). | |
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Managing Director and Assistant Secretary (since 2017) of Nuveen Securities, LLC; Managing Director (since 2017), General Counsel (since 2020), and Assistant Secretary (since 2016), formerly, Senior Vice President (2016-2017), of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Managing Director (since 2017) and Associate General Counsel (since 2016), formerly, Senior Vice President (2012-2017) and Assistant General Counsel (2008-2016) of Nuveen. | |
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2017 | Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen. | |
E. Scott Wickerham 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Controller | 2019 | Senior Managing Director, Head of Public Investment Finance at Nuveen (since 2019), formerly, Managing Director; Senior Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) of the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and Principal Financial Officer, Principal Accounting Officer (since 2020) and Treasurer (since 2017) of the CREF Accounts; formerly, Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various positions with TIAA since 2006. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Mark L. Winget 1968 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2008), and Nuveen Fund Advisors, LLC (since 2019); Vice President, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Vice President (since 2010) and Associate General Counsel (since 2019), formerly, Assistant General Counsel (2008-2016) of Nuveen. | |
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Chief Compliance Officer | 1988 | Formerly: Managing Director (2002-2020) and Assistant Secretary (2002-2020) of Nuveen Securities, LLC; formerly, Managing Director (2002-2020), Assistant Secretary (1997-2020) and Co-General Counsel (2011-2020) of Nuveen Fund Advisors, LLC; formerly, Managing Director (2004-2020) and Assistant Secretary (1994-2020) of Nuveen Investments, Inc.; formerly, Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (2011-2020); formerly, Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (2002-2020), Santa Barbara Asset Management, LLC (2006-2020) and Winslow Capital Management, LLC (2010-2020); Chartered Financial Analyst. |
Serving Investors for Generations
Fund Name | Class A | Class C | Class R6 | Class I | ||
Nuveen Emerging Markets Equity Fund | NEKAX | NEKCX | NEKFX | NEKIX | ||
Nuveen International Growth Fund | NBQAX | NBQCX | NBQFX | NBQIX |
Total Returns as of July 31, 2021* | ||||||
Average Annual | Expense Ratios** | |||||
Inception Date | 1-Year | Since Inception | Gross | Net | ||
Class A Shares at NAV | 11/27/18 | 13.59% | 15.30% | 2.67% | 1.22% | |
Class A Shares at maximum Offering Price | 11/27/18 | 7.05% | 12.78% | - | - | |
MSCI Emerging Markets Index (Net) | - | 20.64% | 13.02% | - | - | |
Lipper Emerging Markets Funds Classification Average | - | 24.42% | 15.45% | - | - | |
Class C Shares | 11/27/18 | 12.77% | 14.50% | 3.42% | 1.97% | |
Class R6 Shares | 11/27/18 | 14.01% | 15.66% | 2.36% | 0.90% | |
Class I Shares | 11/27/18 | 13.85% | 15.58% | 2.42% | 0.96% |
Total Returns as of July 31, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 4/24/09 | 20.39% | 10.33% | 7.44% | 1.20% | 1.13% | |
Class A Shares at maximum Offering Price | 4/24/09 | 13.47% | 9.03% | 6.80% | - | - | |
MSCI EAFE Index (Net) | - | 30.31% | 9.35% | 6.14% | - | - | |
Lipper International Multi-Cap Growth Funds Classification Average | - | 28.11% | 11.70% | 7.40% | - | - | |
Class C Shares | 4/24/09 | 19.50% | 9.51% | 6.80% | 1.95% | 1.88% | |
Class I Shares | 4/24/09 | 20.70% | 10.61% | 7.70% | 0.95% | 0.88% |
Total Returns as of July 31, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | Since Inception | Gross | Net | ||
Class R6 Shares | 6/30/16 | 20.80% | 10.51% | 11.20% | 0.84% | 0.78% |
Fund Allocation (% of net assets) | |
Common Stocks | 98.5% |
Investments Purchased with Collateral from Securities Lending | 2.3% |
Repurchase Agreements | 2.0% |
Other Assets Less Liabilities | (2.8)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Alibaba Group Holding Ltd | 7.7% |
Taiwan Semiconductor Manufacturing Co Ltd | 7.0% |
Samsung Electronics Co Ltd | 4.9% |
Baidu Inc, Sponsored ADR | 4.1% |
Tencent Holdings Ltd | 3.4% |
Portfolio Composition (% of net assets) | |
Internet & Direct Marketing Retail | 20.6% |
Interactive Media & Services | 10.2% |
Semiconductors & Semiconductor Equipment | 9.0% |
Banks | 7.5% |
Hotels, Restaurants & Leisure | 6.8% |
Food & Staples Retailing | 6.5% |
Electronic Equipment, Instruments & Components | 4.9% |
Technology Hardware, Storage & Peripherals | 4.9% |
Oil, Gas & Consumable Fuels | 4.5% |
Multiline Retail | 3.8% |
Other 1 | 19.8% |
Investments Purchased with Collateral from Securities Lending | 2.3% |
Repurchase Agreements | 2.0% |
Other Assets Less Liabilities | (2.8)% |
Net Assets | 100% |
Country Allocation2 (% of net assets) | |
China | 32.1% |
Taiwan | 12.0% |
Brazil | 11.0% |
South Korea | 9.2% |
India | 7.7% |
Mexico | 5.3% |
South Africa | 5.2% |
Russia | 4.6% |
United States | 4.3% |
Macau | 3.6% |
Other | 7.8% |
Other Assets Less Liabilities | (2.8)% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. | |
2 | Includes 96.8% (as a percentage of net assets) in emerging market countries. |
Fund Allocation (% of net assets) | |
Common Stocks | 96.6% |
Investments Purchased with Collateral from Securities Lending | 1.1% |
Repurchase Agreements | 2.8% |
Other Assets Less Liabilities | (0.5)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Sony Group Corp | 2.3% |
ICON PLC | 1.9% |
Experian PLC | 1.9% |
Brookfield Asset Management Inc | 1.8% |
Hoya Corp | 1.8% |
Portfolio Composition (% of net assets) | |
Semiconductors & Semiconductor Equipment | 6.9% |
Internet & Direct Marketing Retail | 6.8% |
Capital Markets | 5.9% |
Software | 5.6% |
Health Care Equipment & Supplies | 4.8% |
IT Services | 4.6% |
Life Sciences Tools & Services | 4.1% |
Aerospace & Defense | 4.0% |
Interactive Media & Services | 3.9% |
Pharmaceuticals | 3.6% |
Electronic Equipment, Instruments & Components | 3.5% |
Banks | 3.5% |
Oil, Gas & Consumable Fuels | 3.4% |
Chemicals | 3.2% |
Professional Services | 3.2% |
Entertainment | 3.0% |
Food Products | 2.7% |
Insurance | 2.7% |
Household Durables | 2.3% |
Other 1 | 18.9% |
Investments Purchased with Collateral from Securities Lending | 1.1% |
Repurchase Agreements | 2.8% |
Other Assets Less Liabilities | (0.5)% |
Net Assets | 100% |
Country Allocation2 (% of net assets) | |
United Kingdom | 14.1% |
China | 9.4% |
Japan | 9.2% |
United States | 8.0% |
Canada | 7.7% |
Germany | 6.8% |
France | 6.6% |
Taiwan | 4.4% |
Australia | 4.3% |
Ireland | 3.8% |
Netherlands | 3.6% |
Hong Kong | 3.2% |
Other | 19.4% |
Other Assets Less Liabilities | (0.5)% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. | |
2 | Includes 23.5% (as a percentage of net assets) in emerging market countries. |
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 | $ 909.64 | $ 906.35 | $ 911.08 | $ 910.70 |
Expenses Incurred During the Period | $ 5.68 | $ 9.22 | $ 3.98 | $ 4.45 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,018.84 | $1,015.12 | $1,020.63 | $1,020.13 |
Expenses Incurred During the Period | $ 6.01 | $ 9.74 | $ 4.21 | $ 4.71 |
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 | $1,037.49 | $1,033.82 | $1,039.26 | $1,038.87 |
Expenses Incurred During the Period | $ 5.20 | $ 8.98 | $ 3.49 | $ 3.94 |
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 | $1,019.69 | $1,015.97 | $1,021.37 | $1,020.93 |
Expenses Incurred During the Period | $ 5.16 | $ 8.90 | $ 3.46 | $ 3.91 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 98.5% | ||||||
COMMON STOCKS – 98.5% | ||||||
Banks – 7.5% | ||||||
937 | Capitec Bank Holdings Ltd | $104,037 | ||||
1,971 | HDFC Bank Ltd, ADR | 139,094 | ||||
16,657 | ICICI Bank Ltd, Sponsored ADR, (2) | 309,654 | ||||
39,646 | Itau Unibanco Holding SA | 230,648 | ||||
8,834 | Sberbank of Russia PJSC, Sponsored ADR | 146,909 | ||||
7,106 | Sberbank of Russia PJSC, Sponsored ADR, (3) | 118,254 | ||||
Total Banks | 1,048,596 | |||||
Beverages – 1.1% | ||||||
58,252 | Anadolu Efes Biracilik Ve Malt Sanayii AS | 153,615 | ||||
Electronic Equipment, Instruments & Components – 4.9% | ||||||
54,224 | AAC Technologies Holdings Inc, (3) | 325,458 | ||||
23,292 | Delta Electronics Inc, (3) | 239,999 | ||||
59,000 | Foxconn Industrial Internet Co Ltd, (3) | 102,737 | ||||
12,700 | Foxconn Industrial Internet Co Ltd, (3) | 22,115 | ||||
Total Electronic Equipment, Instruments & Components | 690,309 | |||||
Entertainment – 3.5% | ||||||
17,667 | HUYA Inc, ADR, (4) | 225,961 | ||||
647 | Sea Ltd, ADR, (4) | 178,675 | ||||
8,749 | Tencent Music Entertainment Group, ADR, (4) | 92,477 | ||||
Total Entertainment | 497,113 | |||||
Food & Staples Retailing – 6.5% | ||||||
20,356 | Cia Brasileira de Distribuicao | 121,278 | ||||
20,356 | Sendas Distribuidora SA | 338,781 | ||||
135,274 | Wal-Mart de Mexico SAB de CV | 445,653 | ||||
Total Food & Staples Retailing | 905,712 | |||||
Health Care Providers & Services – 1.5% | ||||||
133,771 | Life Healthcare Group Holdings Ltd, (4) | 215,111 | ||||
Hotels, Restaurants & Leisure – 6.8% | ||||||
40,700 | Galaxy Entertainment Group Ltd, (3), (4) | 275,826 | ||||
4,299 | Huazhu Group Ltd, ADR, (4) | 193,369 | ||||
17,871 | Melco Resorts & Entertainment Ltd, ADR, (4) | 248,764 | ||||
181,800 | Wynn Macau Ltd, (3), (4) | 232,996 | ||||
Total Hotels, Restaurants & Leisure | 950,955 |
Shares | Description (1) | Value | ||||
Insurance – 1.5% | ||||||
24,728 | Ping An Insurance Group Co of China Ltd, (3) | $ 216,391 | ||||
Interactive Media & Services – 10.2% | ||||||
3,487 | Baidu Inc, Sponsored ADR, (4) | 571,903 | ||||
11,960 | MailRu Group Ltd, GDR, (4) | 248,050 | ||||
8,000 | Tencent Holdings Ltd, (3) | 482,465 | ||||
1,902 | Yandex NV, (4) | 129,203 | ||||
Total Interactive Media & Services | 1,431,621 | |||||
Internet & Direct Marketing Retail – 20.6% | ||||||
43,936 | Alibaba Group Holding Ltd, (3), (4) | 1,073,038 | ||||
7,579 | Allegroeu SA,144A, (4) | 130,038 | ||||
33,287 | Americanas SA, (4) | 313,803 | ||||
4,683 | Baozun Inc, Sponsored ADR, (4) | 115,764 | ||||
6,012 | JDcom Inc, ADR, (4) | 426,131 | ||||
6,800 | Meituan,144A, (3), (4) | 188,166 | ||||
2,156 | Naspers Ltd, (3) | 416,065 | ||||
13,249 | Vipshop Holdings Ltd, ADR, (4) | 220,331 | ||||
Total Internet & Direct Marketing Retail | 2,883,336 | |||||
IT Services – 1.0% | ||||||
2,330 | StoneCo Ltd, (4) | 137,097 | ||||
Media – 2.7% | ||||||
21,720 | Grupo Televisa SAB, Sponsored ADR | 294,306 | ||||
14,112 | iClick Interactive Asia Group Ltd, ADR, (4) | 79,874 | ||||
Total Media | 374,180 | |||||
Metals & Mining – 3.1% | ||||||
21,421 | AngloGold Ashanti Ltd, (3) | 428,929 | ||||
Multiline Retail – 3.8% | ||||||
224,625 | Lojas Americanas SA | 305,782 | ||||
69,800 | Lojas Americanas SA | 88,452 | ||||
1,056,300 | Matahari Department Store Tbk PT, (3), (4) | 131,947 | ||||
Total Multiline Retail | 526,181 | |||||
Oil, Gas & Consumable Fuels – 4.5% | ||||||
4,255 | Reliance Industries Ltd, Sponsored GDR,144A | 235,302 | ||||
7,234 | Reliance Industries Ltd, Sponsored GDR,144A | 400,040 | ||||
Total Oil, Gas & Consumable Fuels | 635,342 | |||||
Personal Products – 2.7% | ||||||
1,959 | Amorepacific Corp, (3) | 377,644 | ||||
Real Estate Management & Development – 1.2% | ||||||
52,659 | China Vanke Co Ltd, (3) | 168,712 |
Shares | Description (1) | Value | ||||
Semiconductors & Semiconductor Equipment – 9.0% | ||||||
37,130 | ASE Technology Holding Co Ltd, (3) | $163,385 | ||||
3,720 | MediaTek Inc, (3) | 121,636 | ||||
46,662 | Taiwan Semiconductor Manufacturing Co Ltd, (3) | 975,212 | ||||
Total Semiconductors & Semiconductor Equipment | 1,260,233 | |||||
Technology Hardware, Storage & Peripherals – 4.9% | ||||||
10,095 | Samsung Electronics Co Ltd, (3) | 689,856 | ||||
Wireless Telecommunication Services – 1.5% | ||||||
824 | SK Telecom Co Ltd, (3) | 215,834 | ||||
Total Long-Term Investments (cost $13,049,207) | 13,806,767 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 2.3% | ||||||
MONEY MARKET FUNDS – 2.3% | ||||||
317,437 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.050% (6) | $ 317,437 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $317,437) | 317,437 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 2.0% | ||||||
REPURCHASE AGREEMENTS – 2.0% | ||||||
$ 281 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/21, repurchase price $280,640, collateralized by $200,600 U.S. Treasury Bond, 4.500%, due 5/15/38, value $286,349 | 0.000% | 8/02/21 | $ 280,640 | ||
Total Short-Term Investments (cost $280,640) | 280,640 | |||||
Total Investments (cost $13,647,284) – 102.8% | 14,404,844 | |||||
Other Assets Less Liabilities – (2.8)% | (394,193) | |||||
Net Assets – 100% | $ 14,010,651 |
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) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $306,549. | |
(3) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(4) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(5) | The Fund may loan securities representing up to one third of the market value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The collateral maintained by the Fund shall have a market value, at the inception of each loan, equal to not less than 100% of the market value of the loaned securities. The cash collateral received by the Fund is invested in this money market fund. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
ADR | American Depositary Receipt | |
GDR | Global Depositary Receipt |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 96.6% | ||||||
COMMON STOCKS – 96.6% | ||||||
Aerospace & Defense – 4.0% | ||||||
142,768 | Airbus SE, (2), (3) | $19,583,291 | ||||
919,594 | CAE Inc, (3) | 28,061,032 | ||||
289,208 | Montana Aerospace AG,144A, (3) | 11,014,711 | ||||
328,873 | Thales SA, (2) | 34,516,778 | ||||
Total Aerospace & Defense | 93,175,812 | |||||
Banks – 3.5% | ||||||
1,182,125 | HDFC Bank Ltd, (2) | 22,725,906 | ||||
2,183,546 | ING Groep NV, (2) | 28,016,408 | ||||
49,303,174 | Lloyds Banking Group PLC, (2) | 31,172,766 | ||||
Total Banks | 81,915,080 | |||||
Beverages – 1.0% | ||||||
486,113 | Diageo PLC, (2) | 24,104,524 | ||||
Biotechnology – 2.2% | ||||||
101,266 | CRISPR Therapeutics AG, (3) | 12,255,211 | ||||
37,005 | Genmab A/S, (2), (3) | 16,725,477 | ||||
528,300 | PeptiDream Inc, (2), (3) | 21,803,851 | ||||
Total Biotechnology | 50,784,539 | |||||
Capital Markets – 5.9% | ||||||
793,915 | Brookfield Asset Management Inc | 42,863,471 | ||||
511,900 | Hong Kong Exchanges & Clearing Ltd, (2) | 32,715,367 | ||||
321,547 | London Stock Exchange Group PLC, (2) | 33,528,122 | ||||
1,813,397 | Nordnet AB publ | 29,259,891 | ||||
Total Capital Markets | 138,366,851 | |||||
Chemicals – 3.2% | ||||||
160,773 | Air Liquide SA, (2) | 27,959,782 | ||||
220,033 | Chr Hansen Holding A/S | 19,789,286 | ||||
421,063 | Covestro AG,144A, (2) | 27,125,378 | ||||
Total Chemicals | 74,874,446 | |||||
Diversified Financial Services – 2.1% | ||||||
3,434,879 | Burford Capital Ltd, (2) | 37,560,710 | ||||
4,415,528 | Omni Bridgeway Ltd, (2) | 11,206,702 | ||||
Total Diversified Financial Services | 48,767,412 | |||||
Diversified Telecommunication Services – 1.7% | ||||||
598,660 | Cellnex Telecom SA,144A, (2) | 39,042,571 |
Shares | Description (1) | Value | ||||
Electronic Equipment, Instruments & Components – 3.5% | ||||||
3,240,500 | AAC Technologies Holdings Inc, (2) | $19,449,833 | ||||
70,500 | Keyence Corp, (2) | 39,268,675 | ||||
931,641 | Softwareone Holding AG, (2) | 23,911,104 | ||||
Total Electronic Equipment, Instruments & Components | 82,629,612 | |||||
Entertainment – 3.0% | ||||||
56,300 | Nintendo Co Ltd, (2) | 28,943,995 | ||||
65,391 | Sea Ltd, ADR, (3) | 18,058,379 | ||||
103,902 | Spotify Technology SA, (3) | 23,759,270 | ||||
Total Entertainment | 70,761,644 | |||||
Food & Staples Retailing – 0.9% | ||||||
272,564 | Dino Polska SA,144A, (2), (3) | 21,820,963 | ||||
Food Products – 2.7% | ||||||
13,277,320 | Ausnutria Dairy Corp Ltd | 12,574,854 | ||||
183,686 | Kerry Group PLC | 27,237,177 | ||||
188,178 | Nestle SA, (2) | 23,828,915 | ||||
Total Food Products | 63,640,946 | |||||
Health Care Equipment & Supplies – 4.8% | ||||||
123,026 | Cochlear Ltd, (2) | 22,257,727 | ||||
301,900 | Hoya Corp, (2), (3) | 42,619,074 | ||||
325,926 | Koninklijke Philips NV, (2) | 15,028,264 | ||||
363,950 | Mister Spex SE, (3) | 10,793,388 | ||||
1,090,637 | Smith & Nephew PLC, (2) | 22,256,387 | ||||
Total Health Care Equipment & Supplies | 112,954,840 | |||||
Health Care Providers & Services – 1.0% | ||||||
175,070 | Orpea SA, (2) | 22,231,679 | ||||
Hotels, Restaurants & Leisure – 1.6% | ||||||
553,120 | Accor SA, (2), (3) | 19,574,970 | ||||
109,083 | Flutter Entertainment PLC, (2), (3) | 18,629,473 | ||||
Total Hotels, Restaurants & Leisure | 38,204,443 | |||||
Household Durables – 2.3% | ||||||
505,000 | Sony Group Corp, (2) | 52,755,569 | ||||
Insurance – 2.7% | ||||||
3,449,400 | AIA Group Ltd, (2) | 41,274,695 | ||||
2,483,144 | Ping An Insurance Group Co of China Ltd, (2) | 21,729,596 | ||||
Total Insurance | 63,004,291 | |||||
Interactive Media & Services – 3.9% | ||||||
125,868 | Baidu Inc, Sponsored ADR, (3) | 20,643,611 | ||||
2,335,728 | Rightmove PLC, (2) | 22,783,757 | ||||
568,302 | Tencent Holdings Ltd, (2) | 34,273,241 |
Shares | Description (1) | Value | ||||
Interactive Media & Services (continued) | ||||||
2,910,498 | Trustpilot Group PLC,144A, (3) | $ 14,491,320 | ||||
Total Interactive Media & Services | 92,191,929 | |||||
Internet & Direct Marketing Retail – 6.8% | ||||||
867,000 | Alibaba Group Holding Ltd, (2), (3) | 21,174,524 | ||||
176,958 | Alibaba Group Holding Ltd, Sponsored ADR, (3) | 34,540,432 | ||||
1,335,399 | Allegroeu SA,144A, (3) | 22,912,362 | ||||
1,122,498 | Americanas SA, (3) | 10,582,183 | ||||
6,762,895 | boohoo Group PLC, (2), (3) | 24,501,309 | ||||
199,672 | Coupang Inc, (3), (4) | 7,252,087 | ||||
363,750 | JDcom Inc, (2), (3) | 12,681,699 | ||||
15,456 | MercadoLibre Inc, (3) | 24,245,827 | ||||
Total Internet & Direct Marketing Retail | 157,890,423 | |||||
IT Services – 4.6% | ||||||
1,481,000 | GDS Holdings Ltd, (2), (3) | 10,980,928 | ||||
306,063 | GDS Holdings Ltd, ADR, (3) | 18,045,475 | ||||
995,630 | Megaport Ltd, (2), (3) | 12,183,039 | ||||
4,136,444 | NEXTDC Ltd, (2), (3) | 38,882,821 | ||||
495,473 | Pagseguro Digital Ltd, (3) | 27,469,023 | ||||
Total IT Services | 107,561,286 | |||||
Life Sciences Tools & Services – 4.1% | ||||||
231,470 | Eurofins Scientific SE, (2) | 27,686,660 | ||||
282,385 | Evotec SE, (2), (3) | 11,708,943 | ||||
180,454 | ICON PLC, (3) | 43,899,045 | ||||
815,500 | Wuxi Biologics Cayman Inc,144A, (2), (3) | 12,456,151 | ||||
Total Life Sciences Tools & Services | 95,750,799 | |||||
Machinery – 1.1% | ||||||
187,625 | Kornit Digital Ltd, (3) | 24,796,520 | ||||
Media – 1.1% | ||||||
1,442,785 | YouGov PLC | 25,419,363 | ||||
Multiline Retail – 0.4% | ||||||
6,236,100 | Lojas Americanas SA | 8,489,214 | ||||
Multi-Utilities – 0.9% | ||||||
610,232 | RWE AG, (2) | 21,697,205 | ||||
Oil, Gas & Consumable Fuels – 3.4% | ||||||
1,232,511 | BP PLC, ADR | 29,802,116 | ||||
746,858 | Parkland Corp/Canada | 23,771,827 | ||||
918,749 | Reliance Industries Ltd, (2) | 25,205,848 | ||||
Total Oil, Gas & Consumable Fuels | 78,779,791 |
Shares | Description (1) | Value | ||||
Pharmaceuticals – 3.6% | ||||||
292,441 | AstraZeneca PLC, (2) | $33,604,358 | ||||
287,389 | Dr Reddy's Laboratories Ltd, ADR | 17,976,182 | ||||
362,635 | Novo Nordisk A/S, (2) | 33,569,584 | ||||
Total Pharmaceuticals | 85,150,124 | |||||
Professional Services – 3.2% | ||||||
990,491 | Experian PLC, (2) | 43,607,163 | ||||
586,500 | Recruit Holdings Co Ltd, (2) | 30,398,658 | ||||
Total Professional Services | 74,005,821 | |||||
Real Estate Management & Development – 1.0% | ||||||
342,758 | Vonovia SE, (2) | 22,820,456 | ||||
Road & Rail – 1.3% | ||||||
158,613 | Canadian National Railway Co | 17,234,353 | ||||
900,900 | Vamos Locacao de Caminhoes Maquinas e Equipamentos SA, (3) | 12,732,731 | ||||
Total Road & Rail | 29,967,084 | |||||
Semiconductors & Semiconductor Equipment – 6.9% | ||||||
6,291,000 | ASE Technology Holding Co Ltd, (2) | 27,682,546 | ||||
54,470 | ASML Holding NV, (2) | 41,635,983 | ||||
73,225 | Broadcom Inc | 35,543,415 | ||||
1,324,000 | Taiwan Semiconductor Manufacturing Co Ltd, (2) | 27,670,932 | ||||
244,441 | Taiwan Semiconductor Manufacturing Co Ltd, Sponsored ADR | 28,511,598 | ||||
Total Semiconductors & Semiconductor Equipment | 161,044,474 | |||||
Software – 5.6% | ||||||
184,294 | Check Point Software Technologies Ltd, (3) | 23,423,767 | ||||
17,468 | Constellation Software Inc/Canada | 27,980,583 | ||||
2,305,327 | Darktrace PLC, (3), (4) | 24,513,710 | ||||
453,442 | Dye & Durham Ltd | 17,144,004 | ||||
436,717 | Open Text Corp | 22,669,980 | ||||
662,618 | WiseTech Global Ltd, (2) | 15,029,884 | ||||
Total Software | 130,761,928 | |||||
Specialty Retail – 0.5% | ||||||
233,657 | Auto1 Group SE,144A, (3) | 11,436,261 | ||||
Textiles, Apparel & Luxury Goods – 2.1% | ||||||
50,624 | adidas AG, (2) | 18,374,151 | ||||
39,060 | LVMH Moet Hennessy Louis Vuitton SE, (2) | 31,274,053 | ||||
Total Textiles, Apparel & Luxury Goods | 49,648,204 | |||||
Total Long-Term Investments (cost $1,991,358,156) | 2,256,446,104 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 1.1% | ||||||
MONEY MARKET FUNDS – 1.1% | ||||||
25,762,297 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.050% (6) | $ 25,762,297 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $25,762,297) | 25,762,297 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 2.8% | ||||||
REPURCHASE AGREEMENTS – 2.8% | ||||||
$ 64,294 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/21, repurchase price $64,294,230, collateralized by $64,584,200 U.S. Treasury Bond, 1.875%, due 2/15/41, value $65,580,170 | 0.000% | 8/02/21 | $ 64,294,230 | ||
Total Short-Term Investments (cost $64,294,230) | 64,294,230 | |||||
Total Investments (cost $2,081,414,683) – 100.5% | 2,346,502,631 | |||||
Other Assets Less Liabilities – (0.5)% | (11,411,318) | |||||
Net Assets – 100% | $ 2,335,091,313 |
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) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(3) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(4) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $24,715,615. | |
(5) | The Fund may loan securities representing up to one third of the market value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The collateral maintained by the Fund shall have a market value, at the inception of each loan, equal to not less than 100% of the market value of the loaned securities. The cash collateral received by the Fund is invested in this money market fund. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
ADR | American Depositary Receipt |
Emerging Markets Equity | International Growth | |
Assets | ||
Long-term investments, at value (cost $13,049,207 and $1,991,358,156, respectively)(1) | $13,806,767 | $2,256,446,104 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | 317,437 | 25,762,297 |
Short-term investments, at value (cost approximates value) | 280,640 | 64,294,230 |
Cash denominated in foreign currencies (cost $4,464 and $2,567,764, respectively) | 4,456 | 2,596,367 |
Receivable for: | ||
Dividends | 8,485 | 222,970 |
Due from affiliate | 51 | 102,868 |
Reclaims | 218 | 566,528 |
Reimbursement from Adviser | 8,458 | — |
Shares sold | — | 26,106,655 |
Other assets | 17,873 | 192,842 |
Total assets | 14,444,385 | 2,376,290,861 |
Liabilities | ||
Cash overdraft | 42 | — |
Payable for: | ||
Collateral from securities lending program | 317,437 | 25,762,297 |
Dividends | — | 10 |
Interest | — | 294,922 |
Investments purchased - regular settlement | — | 13,078,151 |
Shares redeemed | — | 110,780 |
Accrued expenses: | ||
Custodian fees | 89,603 | 139,958 |
Management fees | — | 1,306,201 |
Trustees fees | 125 | 64,203 |
12b-1 distribution and service fees | 163 | 17,909 |
Other | 26,364 | 425,117 |
Total liabilities | 433,734 | 41,199,548 |
Net assets | $14,010,651 | $2,335,091,313 |
Emerging Markets Equity | International Growth | |
Class A Shares | ||
Net assets | $ 447,499 | $ 51,352,126 |
Shares outstanding | 17,369 | 879,486 |
Net asset value ("NAV") per share | $ 25.77 | $ 58.39 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 27.34 | $ 61.95 |
Class C Shares | ||
Net assets | $ 70,450 | $ 7,768,291 |
Shares outstanding | 2,757 | 141,968 |
NAV and offering price per share | $ 25.55 | $ 54.72 |
Class R6 Shares | ||
Net assets | $12,813,914 | $2,003,510,078 |
Shares outstanding | 496,250 | 34,090,487 |
NAV and offering price per share | $ 25.82 | $ 58.77 |
Class I Shares | ||
Net assets | $ 678,788 | $ 272,460,818 |
Shares outstanding | 26,308 | 4,612,484 |
NAV and offering price per share | $ 25.80 | $ 59.07 |
Fund level net assets consist of: | ||
Capital paid-in | $11,059,581 | $1,999,292,998 |
Total distributable earnings | 2,951,070 | 335,798,315 |
Fund level net assets | $14,010,651 | $2,335,091,313 |
Authorized shares - per class | Unlimited | Unlimited |
Par value per share | $ 0.01 | $ 0.01 |
(1) | Includes securities loaned of $306,549 and $24,715,615 for Emerging Markets Equity Fund and International Growth Fund, respectively. |
Emerging Markets Equity | International Growth | |
Investment Income | ||
Dividends | $ 173,282 | $ 19,771,668 |
Securities lending income, net | 4,847 | 153,473 |
Payment from affiliate | 382 | 283,929 |
Foreign tax withheld on dividend income | (24,830) | (2,043,456) |
Total investment income | 153,681 | 18,165,614 |
Expenses | ||
Management fees | 126,106 | 11,481,301 |
12b-1 service fees - Class A Shares | 1,021 | 120,175 |
12b-1 distribution and service fees - Class C Shares | 607 | 88,327 |
12b-1 distribution and service fees - Class R3 Shares(1) | — | 2,602 |
Shareholder servicing agent fees | 1,837 | 339,998 |
Interest expense | 58 | 2,140 |
Custodian fees | 64,536 | 112,428 |
Professional fees | 39,699 | 122,549 |
Trustees fees | 376 | 44,543 |
Shareholder reporting expenses | 15,840 | 63,584 |
Federal and state registration fees | 57,758 | 247,774 |
Other | 6,244 | 11,391 |
Total expenses before fee waiver/expense reimbursement | 314,082 | 12,636,812 |
Fee waiver/expense reimbursement | (188,575) | — |
Net expenses | 125,507 | 12,636,812 |
Net investment income (loss) | 28,174 | 5,528,802 |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) from investments and foreign currency | 2,439,828 | 71,043,013 |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | (680,306) | 205,900,191 |
Net realized and unrealized gain (loss) | 1,759,522 | 276,943,204 |
Net increase (decrease) in net assets from operations | $1,787,696 | $282,472,006 |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Emerging Markets Equity | International Growth | ||||
Year Ended 7/31/21 | Year Ended 7/31/20 | Year Ended 7/31/21 | Year Ended 7/31/20 | ||
Operations | |||||
Net investment income (loss) | $ 28,174 | $ 133,995 | $ 5,528,802 | $ 868,641 | |
Net realized gain (loss) from investments and foreign currency | 2,439,828 | 848,499 | 71,043,013 | 10,825,066 | |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | (680,306) | 420,150 | 205,900,191 | 12,309,929 | |
Net increase (decrease) in net assets from operations | 1,787,696 | 1,402,644 | 282,472,006 | 24,003,636 | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (29,012) | (13,124) | — | (111,030) | |
Class C Shares | (3,185) | (1,779) | — | — | |
Class R3 Shares(1) | — | — | — | (130) | |
Class R6 Shares | (967,142) | (749,139) | — | (1,338) | |
Class I Shares | (29,169) | (1,858) | — | (1,394,500) | |
Decrease in net assets from distributions to shareholders | (1,028,508) | (765,900) | — | (1,506,998) | |
Fund Share Transactions | |||||
Proceeds from sale of shares | 943,330 | 356,466 | 2,024,161,789 | 54,261,509 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 54,356 | 11,539 | — | 1,165,572 | |
997,686 | 368,005 | 2,024,161,789 | 55,427,081 | ||
Cost of shares redeemed | (448,785) | (277) | (276,927,754) | (152,414,072) | |
Net increase (decrease) in net assets from Fund share transactions | 548,901 | 367,728 | 1,747,234,035 | (96,986,991) | |
Net increase (decrease) in net assets | 1,308,089 | 1,004,472 | 2,029,706,041 | (74,490,353) | |
Net assets at the beginning of period | 12,702,562 | 11,698,090 | 305,385,272 | 379,875,625 | |
Net assets at the end of period | $14,010,651 | $12,702,562 | $2,335,091,313 | $ 305,385,272 |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 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 (11/18) | |||||||||
2021 | $24.26 | $(0.04) | $3.43 | $3.39 | $(0.10) | $(1.78) | $(1.88) | $25.77 | |
2020 | 23.08 | 0.17 | 2.44 | 2.61 | (0.20) | (1.23) | (1.43) | 24.26 | |
2019(f) | 20.00 | 0.23 | 2.85 | 3.08 | — | — | — | 23.08 | |
Class C (11/18) | |||||||||
2021 | 24.16 | (0.24) | 3.41 | 3.17 | — | (1.78) | (1.78) | 25.55 | |
2020 | 23.00 | 0.03 | 2.39 | 2.42 | (0.03) | (1.23) | (1.26) | 24.16 | |
2019(f) | 20.00 | 0.01 | 2.99 | 3.00 | — | — | — | 23.00 | |
Class R6 (11/18) | |||||||||
2021 | 24.28 | 0.06 | 3.43 | 3.49 | (0.17) | (1.78) | (1.95) | 25.82 | |
2020 | 23.10 | 0.26 | 2.43 | 2.69 | (0.28) | (1.23) | (1.51) | 24.28 | |
2019(f) | 20.00 | 0.16 | 2.96 | 3.12 | (0.02) | — | (0.02) | 23.10 | |
Class I (11/18) | |||||||||
2021 | 24.28 | 0.04 | 3.42 | 3.46 | (0.16) | (1.78) | (1.94) | 25.80 | |
2020 | 23.09 | 0.25 | 2.43 | 2.68 | (0.26) | (1.23) | (1.49) | 24.28 | |
2019(f) | 20.00 | 0.16 | 2.95 | 3.11 | (0.02) | — | (0.02) | 23.09 |
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) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
13.59% | $ 447 | 2.47% | (1.41) % | (1.41) % | 1.20% | (0.13) % | (0.13) % | 81% | |
11.68 | 256 | 2.65 | (0.67) | (0.67) | 1.20 | 0.79 | 0.79 | 124 | |
15.40 | 174 | 2.29* | 0.43* | N/A | 1.20* | 1.52* | N/A | 42 | |
12.77 | 70 | 3.22 | (2.13) | (2.13) | 1.95 | (0.86) | (0.86) | 81 | |
10.80 | 34 | 3.40 | (1.34) | (1.34) | 1.95 | 0.12 | 0.12 | 124 | |
15.00 | 32 | 3.05* | (1.00)* | N/A | 1.95* | 0.10* | N/A | 42 | |
14.01 | 12,814 | 2.10 | (1.07) | (1.07) | 0.83 | 0.21 | 0.21 | 81 | |
11.99 | 12,050 | 2.34 | (0.27) | (0.27) | 0.88 | 1.19 | 1.19 | 124 | |
15.62 | 11,462 | 2.05* | (0.01)* | N/A | 0.95* | 1.09* | N/A | 42 | |
13.85 | 679 | 2.22 | (1.14) | (1.14) | 0.95 | 0.14 | 0.14 | 81 | |
11.98 | 362 | 2.40 | (0.27) | (0.27) | 0.94 | 1.18 | 1.18 | 124 | |
15.57 | 29 | 2.04* | (0.01)* | N/A | 0.95* | 1.08* | N/A | 42 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the fiscal years ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund's Total Return 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 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 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) divided by the average long-term market value during the period. |
(f) | For the period November 27, 2018 (commencement of operations) through July 31, 2019. |
* | Annualized. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended July 31, 2020. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 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 (04/09) | |||||||||
2021 | $48.50 | $ 0.03 | $ 9.86 | $ 9.89 | $ — | $ — | $ — | $58.39 | |
2020 | 44.68 | 0.03 | 3.91 | 3.94 | (0.12) | — | (0.12) | 48.50 | |
2019 | 48.43 | 0.18 | (2.10) | (1.92) | (0.47) | (1.36) | (1.83) | 44.68 | |
2018 | 43.68 | 0.09 | 4.70 | 4.79 | (0.04) | — | (0.04) | 48.43 | |
2017 | 37.61 | 0.06 | 6.01 | 6.07 | — | — | — | 43.68 | |
Class C (04/09) | |||||||||
2021 | 45.79 | (0.36) | 9.29 | 8.93 | — | — | — | 54.72 | |
2020 | 42.40 | (0.28) | 3.67 | 3.39 | — | — | — | 45.79 | |
2019 | 45.96 | (0.15) | (1.94) | (2.09) | (0.11) | (1.36) | (1.47) | 42.40 | |
2018 | 41.72 | (0.25) | 4.49 | 4.24 | — | — | — | 45.96 | |
2017 | 36.20 | (0.16) | 5.68 | 5.52 | — | — | — | 41.72 | |
Class R6 (06/16) | |||||||||
2021 | 48.65 | 0.20 | 9.92 | 10.12 | — | — | — | 58.77 | |
2020 | 45.22 | 0.47 | 3.23 | 3.70 | (0.27) | — | (0.27) | 48.65 | |
2019 | 48.99 | 0.33 | (2.14) | (1.81) | (0.60) | (1.36) | (1.96) | 45.22 | |
2018 | 44.13 | 0.26 | 4.75 | 5.01 | (0.15) | — | (0.15) | 48.99 | |
2017 | 37.86 | 0.27 | 6.00 | 6.27 | — | — | — | 44.13 | |
Class I (04/09) | |||||||||
2021 | 48.94 | 0.17 | 9.96 | 10.13 | — | — | — | 59.07 | |
2020 | 45.08 | 0.14 | 3.95 | 4.09 | (0.23) | — | (0.23) | 48.94 | |
2019 | 48.89 | 0.29 | (2.15) | (1.86) | (0.59) | (1.36) | (1.95) | 45.08 | |
2018 | 44.08 | 0.21 | 4.75 | 4.96 | (0.15) | — | (0.15) | 48.89 | |
2017 | 37.86 | 0.23 | 5.99 | 6.22 | — | — | — | 44.08 |
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) | Net Investment Income (Loss) Excluding Payment From Affiliates | Expenses | Net Investment Income (Loss) | Net Investment Income (Loss) Excluding Payment From Affiliates | Portfolio Turnover Rate(e) | |
20.39% | $ 51,352 | 1.05% | 0.05% | 0.04% | 1.05% | 0.05% | 0.04% | 70% | |
8.82 | 42,488 | 1.20 | 0.01 | ( —)* | 1.13 | 0.08 | 0.07 | 47 | |
(3.15) | 45,737 | 1.19 | 0.36 | N/A | 1.13 | 0.42 | N/A | 52 | |
10.98 | 55,476 | 1.18 | 0.14 | N/A | 1.13 | 0.19 | N/A | 81 | |
16.11 | 51,018 | 1.26 | 0.03 | N/A | 1.14 | 0.16 | N/A | 318 | |
19.50 | 7,768 | 1.80 | (0.70) | (0.71) | 1.80 | (0.70) | (0.71) | 70 | |
8.00 | 9,356 | 1.95 | (0.74) | (0.75) | 1.88 | (0.67) | (0.68) | 47 | |
(3.89) | 12,704 | 1.94 | (0.43) | N/A | 1.88 | (0.37) | N/A | 52 | |
10.14 | 23,861 | 1.93 | (0.59) | N/A | 1.88 | (0.54) | N/A | 81 | |
15.28 | 17,131 | 2.00 | (0.56) | N/A | 1.89 | (0.45) | N/A | 318 | |
20.80 | 2,003,510 | 0.71 | 0.34 | 0.33 | 0.71 | 0.34 | 0.33 | 70 | |
8.19 | 404 | 0.84 | 1.01 | 1.01 | 0.78 | 1.08 | 1.08 | 47 | |
(2.83) | 22,529 | 0.84 | 0.69 | N/A | 0.78 | 0.75 | N/A | 52 | |
11.36 | 33,524 | 0.84 | 0.49 | N/A | 0.79 | 0.54 | N/A | 81 | |
16.56 | 30,400 | 0.88 | 0.60 | N/A | 0.77 | 0.71 | N/A | 318 | |
20.70 | 272,461 | 0.80 | 0.30 | 0.29 | 0.80 | 0.30 | 0.29 | 70 | |
9.08 | 252,529 | 0.95 | 0.26 | 0.25 | 0.88 | 0.32 | 0.31 | 47 | |
(2.93) | 298,320 | 0.94 | 0.60 | N/A | 0.88 | 0.66 | N/A | 52 | |
11.25 | 377,051 | 0.93 | 0.39 | N/A | 0.88 | 0.44 | N/A | 81 | |
16.43 | 267,558 | 0.99 | 0.49 | N/A | 0.89 | 0.60 | N/A | 318 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | During the fiscal years ended 2021 and 2020, the Fund received voluntary compensation from the Adviser. The Fund's Total Return 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 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 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) divided by the average long-term market value during the period. |
* | Rounds to more than (0.01)%. |
N/A | Fund did not have Payments from Affiliates for periods prior to the fiscal year ended July 31, 2020. |
Emerging Markets Equity | Value | % of Net Assets |
Country: | ||
China | $ 4,504,892 | 32.1% |
Taiwan | 1,678,907 | 12.0 |
Brazil | 1,535,841 | 11.0 |
South Korea | 1,283,334 | 9.2 |
India | 1,084,090 | 7.7 |
Mexico | 739,959 | 5.3 |
South Africa | 735,213 | 5.2 |
Russia | 642,416 | 4.6 |
Macau | 508,822 | 3.6 |
Other | 1,093,293 | 7.8 |
Total non-U.S. securities | $13,806,767 | 98.5% |
International Growth | Value | % of Net Assets |
Country: | ||
United Kingdom | $ 329,784,895 | 14.1% |
China | 218,550,344 | 9.4 |
Japan | 215,789,822 | 9.2 |
Canada | 179,725,250 | 7.7 |
Germany | 158,881,597 | 6.8 |
France | 155,140,553 | 6.6 |
Taiwan | 101,923,455 | 4.4 |
Australia | 99,560,173 | 4.3 |
Ireland | 89,765,695 | 3.8 |
Netherlands | 84,680,655 | 3.6 |
Hong Kong | 73,990,062 | 3.2 |
Other | 451,790,208 | 19.4 |
Total non-U.S. securities | $2,159,582,709 | 92.5% |
Emerging Markets Equity | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $6,840,102 | $6,966,665** | $ — | $13,806,767 |
Investments Purchased with Collateral from Securities Lending | 317,437 | — | — | 317,437 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 280,640 | — | 280,640 |
Total | $7,157,539 | $7,247,305 | $ — | $14,404,844 |
International Growth | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $811,193,659 | $1,445,252,445** | $ — | $2,256,446,104 |
Investments Purchased with Collateral from Securities Lending | 25,762,297 | — | — | 25,762,297 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 64,294,230 | — | 64,294,230 |
Total | $836,955,956 | $1,509,546,675 | $ — | $2,346,502,631 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 2. |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty |
Emerging Markets Equity | Fixed Income Clearing Corporation | $ 280,640 | $ (286,349) |
International Growth | Fixed Income Clearing Corporation | 64,294,230 | (65,580,170) |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Total Collateral Received |
Emerging Markets Equity | Common Stocks | $ 306,549 | $ 317,437 |
International Growth | Common Stocks | $24,715,615 | $25,762,297 |
Emerging Markets Equity | International Growth | |
Purchases | $11,334,134 | $2,818,743,246 |
Sales | 11,710,616 | 1,138,582,616 |
Year Ended 7/31/21 | Year Ended 7/31/20 | ||||
Emerging Markets Equity | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 12,323 | $ 349,913 | 2,510 | $ 58,005 | |
Class C | 1,322 | 37,474 | — | — | |
Class I | 19,462 | 555,943 | 13,678 | 298,461 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 984 | 26,658 | 488 | 11,337 | |
Class C | 36 | 956 | 9 | 202 | |
Class R6 | — | — | — | — | |
Class I | 985 | 26,742 | — | — | |
35,112 | 997,686 | 16,685 | 368,005 | ||
Shares redeemed: | |||||
Class A | (6,487) | (188,431) | (2) | (53) | |
Class C | (11) | (286) | (9) | (202) | |
Class R6 | — | — | — | — | |
Class I | (9,066) | (260,068) | (1) | (22) | |
(15,564) | (448,785) | (12) | (277) | ||
Net increase (decrease) | 19,548 | $ 548,901 | 16,673 | $367,728 |
Year Ended 7/31/21 | Year Ended 7/31/20 | ||||
International Growth | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 110,025 | $ 6,110,312 | 97,091 | $ 4,350,476 | |
Class A – automatic conversion of Class C Shares | 209 | 11,933 | 78 | 3,454 | |
Class A - automatic conversion of Class R3 Shares | 6,921 | 408,523 | — | — | |
Class C | 16,667 | 872,636 | 12,515 | 520,482 | |
Class R3(1) | 1,558 | 82,610 | 2,815 | 121,587 | |
Class R6 | 37,326,223 | 1,969,387,348 | 12,477 | 490,246 | |
Class I | 852,427 | 47,288,427 | 1,123,012 | 48,775,264 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | — | — | 2,122 | 100,621 | |
Class R3 | — | — | 3 | 130 | |
Class R6 | — | — | 28 | 1,338 | |
Class I | — | — | 22,253 | 1,063,483 | |
38,314,030 | 2,024,161,789 | 1,272,394 | 55,427,081 | ||
Shares redeemed: | |||||
Class A | (113,794) | (6,231,046) | (246,849) | (10,657,834) | |
Class C | (78,814) | (4,023,562) | (107,739) | (4,514,621) | |
Class C – automatic conversion to Class A Shares | (222) | (11,933) | (83) | (3,454) | |
Class R3(1) | (7,252) | (411,248) | (3,363) | (147,466) | |
Class R3 – automatic conversion to Class A Shares | (7,031) | (408,523) | — | — | |
Class R6 | (3,244,040) | (187,932,689) | (502,409) | (21,835,701) | |
Class I | (1,400,022) | (77,908,753) | (2,603,020) | (115,254,996) | |
(4,851,175) | (276,927,754) | (3,463,463) | (152,414,072) | ||
Net increase (decrease) | 33,462,855 | $1,747,234,035 | (2,191,069) | $ (96,986,991) |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Emerging Markets Equity | International Growth | |
Tax cost of investments | $13,684,120 | $2,084,998,632 |
Gross unrealized: | ||
Appreciation | $ 2,269,028 | $ 348,030,772 |
Depreciation | (1,548,304) | (86,526,773) |
Net unrealized appreciation (depreciation) of investments | $ 720,724 | $ 261,503,999 |
Emerging Markets Equity | International Growth | |
Undistributed net ordinary income1 | $1,309,211 | $62,996,424 |
Undistributed net long-term capital gains | 921,124 | 11,653,908 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
2021 | Emerging Markets Equity | International Growth |
Distributions from net ordinary income1 | $208,003 | $ — |
Distributions from net long-term capital gains2 | 820,505 | — |
2020 | Emerging Markets Equity | International Growth |
Distributions from net ordinary income1 | $765,900 | $1,506,998 |
Distributions from net long-term capital gains | — | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
2 | The Funds hereby designate as long-term capital gain dividends, pursuant to the Internal Revenue Code Section 852(b)(3), the amount necessary to reduce earnings and profits of the Funds related to net capital gain to zero for the tax year ended July 31, 2021. |
Average Daily Net Assets | Emerging Markets Equity | International Growth |
For the first $125 million | 0.7000% | 0.5500% |
For the next $125 million | 0.6875 | 0.5375 |
For the next $250 million | 0.6750 | 0.5250 |
For the next $500 million | 0.6625 | 0.5125 |
For the next $1 billion | 0.6500 | 0.5000 |
For the next $3 billion | 0.6250 | 0.4750 |
For the next $2.5 billion | 0.6000 | 0.4500 |
For the next $2.5 billion | 0.5875 | 0.4375 |
For net assets over $10 billion | 0.5750 | 0.4250 |
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 |
Emerging Markets Equity | 0.1536% |
International Growth | 0.1576% |
Fund | Temporary Expense Cap | Temporary Expense Cap Expiration Date | Permanent Expense Cap |
Emerging Markets Equity | 0.99% | July 31, 2023 | N/A |
International Growth | 0.90% | July 31, 2023 | 1.45% |
Emerging Markets Equity | International Growth | |
Sales charges collected (Unaudited) | $ — | $17,218 |
Paid to financial intermediaries (Unaudited) | — | 15,619 |
Emerging Markets Equity | International Growth | |
Commission advances (Unaudited) | $ — | $9,353 |
Emerging Markets Equity | International Growth | |
12b-1 fees retained (Unaudited) | $(501) | $4,669 |
Emerging Markets Equity | International Growth | |
CDSC retained (Unaudited) | $(862) | $1,805 |
Emerging Markets Equity | International Growth | |
TIAA owned shares | 92% | —%* |
* | Rounds to less than 1%. |
Emerging Markets Equity | |
Maximum outstanding balance | $32,615 |
Emerging Markets Equity | |
Utilization period (days outstanding) | 4 |
Average daily balance outstanding | $32,615 |
Average annual interest rate | 1.39% |
Emerging Markets Equity | International Growth | ||
% of DRD | 0.0% | 0.0% | |
% of QDI | 38.7% | 100.0% |
• | Centralization of Functions – ongoing initiatives to centralize investment leadership, market approach and shared support functions within Nuveen and its affiliates in seeking to operate more effectively the business and enhance the services to the Nuveen funds; |
• | Fund Improvements and Product Management Initiatives – continuing to proactively manage the Nuveen fund complex as a whole and at the individual fund level with an aim to continually improve product platforms and investment strategies to better serve shareholders through, among other things, rationalizing the product line and gaining efficiencies through mergers, repositionings and liquidations; launching new funds; reviewing and updating investment policies and benchmarks; and modifying portfolio management teams for various funds; |
• | Investment Team Integrations – continuing to integrate and adjust the members of certain investment teams, in part, to allow greater access to tools and resources within the Nuveen organization and its affiliates; |
• | Capital Initiatives – continuing to invest capital to support new Nuveen funds with initial capital as well as to support existing funds and facilitate regulatory or logistical changes; |
• | Liquidity Management – continuing to operate the liquidity management program of the applicable Nuveen funds including monitoring daily their liquidity profile and assessing annually the overall liquidity risk of such funds; |
• | Compliance Program Initiatives – continuing efforts to mitigate compliance risk, increase operating efficiencies, implement enhancements to strengthen key compliance program elements and support international business growth and other corporate objectives; |
• | Investment Oversight – preparing reports to the Board addressing, among other things, fund performance; market conditions; investment teams; new products; changes to mandates, policies and benchmarks; and other management proposals; |
• | Risk Management and Valuation Services - continuing to oversee and manage risk including, among other things, conducting daily calculations and monitoring of risk measures across the Nuveen funds, instituting appropriate investment risk controls, providing risk reporting throughout the firm, participating in internal oversight committees, and continuing to implement an operational risk framework that seeks to provide greater transparency of operational risk matters across the complex as well as provide multiple other risk programs that seek to provide a more disciplined and consistent approach to identifying and mitigating Nuveen’s operational risks. Further, the securities valuation team continues, among other things, to oversee the daily valuation process of the portfolio securities of the funds, maintains the valuation policies and procedures, facilitates valuation committee meetings, manages relationships with pricing vendors, and prepares relevant valuation reports and designs methods to simplify and enhance valuation workflow within the organization; |
• | Regulatory Matters – continuing efforts to monitor regulatory trends and advocate on behalf of Nuveen and/or the Nuveen funds, to implement and comply with new or revised rules and mandates and to respond to regulatory inquiries and exams; |
• | Government Relations – continuing efforts of various Nuveen teams and Nuveen’s affiliates to develop policy positions on a broad range of issues that may impact the Nuveen funds, advocate and communicate these positions to lawmakers and other regulatory authorities and work with trade associations to ensure these positions are represented; |
• | Business Continuity, Disaster Recovery and Information Security – continuing efforts of Nuveen to periodically test and update business continuity and disaster recovery plans and, together with its affiliates, to maintain an information security program designed to identify and manage information security risks, and provide reports to the Board, at least annually, addressing, among other things, management’s security risk assessment, cyber risk profile, potential impact of new or revised laws and regulations, incident tracking and other relevant information technology risk-related reports; and |
• | Dividend Management Services – continuing to manage the dividends among the varying types of Nuveen funds within the Nuveen complex to be consistent with the respective fund’s product design and positioning in striving to deliver those earnings to shareholders in a relatively consistent manner over time as well as assisting in the development of new products or the restructuring of existing funds. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Independent Trustees: | ||||
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606 | Chair and Trustee | 2008 | Formerly, a Co-Founding Partner, Promus Capital (investment advisory firm) (2008-2017); Director, Quality Control Corporation (manufacturing) (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (philanthropy) (since 2012), and chair of its investment committee; formerly, Director, Fulcrum IT Services LLC (information technology services firm to government entities) (2010-2019); formerly, Director, LogicMark LLC (health services) (2012-2016); formerly, Director, Legal & General Investment Management America, Inc. (asset management) (2008-2013); formerly, CEO and President, Northern Trust Global Investments (financial services) (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (financial services) (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003- 2007) and Northern Trust Hong Kong Board (1997-2004). | 146 |
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1999 | Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine Foundation, (private philanthropic corporation); Life Trustee of Coe College and the Iowa College Foundation; formerly, Member and President Pro-Tem of the Board of Regents for the State of Iowa University System (2007- 2013); Director and Chairman (2009-2021), United Fire Group, a publicly held company; Director, Public Member, American Board of Orthopaedic Surgery (2015-2020); Director (2000-2004), Alliant Energy; Director (1996-2015), The Gazette Company (media and publishing); Director (1997- 2003), Federal Reserve Bank of Chicago; President and Chief Operating Officer (1972-1995), SCI Financial Group, Inc., (regional financial services firm). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2003 | Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010- 2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University. | 146 |
Amy B. R. Lancellotta 1959 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Independent Directors Council (IDC) (supports the fund independent director community and is part of the Investment Company Institute (ICI), which represents regulated investment companies) (2006-2019); formerly, various positions with ICI (1989-2006); Member of the Board of Directors, Jewish Coalition Against Domestic Abuse (JCADA) (since 2020). | 146 |
Joanne T. Medero 1954 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Government Relations and Public Policy (2009-2020) and Senior Advisor to the Vice Chairman (2018-2020), BlackRock, Inc. (global investment management firm); formerly, Managing Director, Global Head of Government Relations and Public Policy, Barclays Group (IBIM) (investment banking, investment management and wealth management businesses)(2006-2009); formerly, Managing Director, Global General Counsel and Corporate Secretary, Barclays Global Investors (global investment management firm) (1996-2006); formerly, Partner, Orrick, Herrington & Sutcliffe LLP (law firm) (1993-1995); formerly, General Counsel, Commodity Futures Trading Commission (government agency overseeing U.S. derivatives markets) (1989-1993); formerly, Deputy Associate Director/Associate Director for Legal and Financial Affairs, Office of Presidential Personnel, The White House (1986-1989); Member of the Board of Directors, Baltic-American Freedom Foundation (seeks to provide opportunities for citizens of the Baltic states to gain education and professional development through exchanges in the U.S.) (since 2019). | 146 |
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc. (consumer wireless services), including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996) including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2013 | Member of Board of Directors of Core12 LLC. (private firm which develops branding, marketing and communications strategies for clients) (since 2008); served The President's Council of Fordham University (2010-2019) and previously a Director of the Curran Center for Catholic American Studies (2009-2018); formerly, senior external advisor to the Financial Services practice of Deloitte Consulting LLP. (2012-2014); former Chair of the Board of Trustees of Marian University (2010-2014 as trustee, 2011-2014 as Chair); formerly Chief Executive Officer of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division (2007-2008), with various executive leadership roles in ABN AMRO Bank N.V. between 1996 and 2007. | 146 |
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1997 | Board Member, Land Trust Alliance (national public charity addressing natural land and water conservation in the U.S.) (since 2013); formerly, Board Member, U.S. Endowment for Forestry and Communities (national endowment addressing forest health, sustainable forest production and markets, and economic health of forest-reliant communities in the U.S.) (2013-2019); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation (private foundation endowed to support both natural land conservation and artistic vitality); prior thereto, Executive Director, Great Lakes Protection Fund (endowment created jointly by seven of the eight Great Lakes states' Governors to take a regional approach to improving the health of the Great Lakes) (1990-1994). | 146 |
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2007 | Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); formerly, Director, Cboe Global Markets, Inc., (2010-2020) (formerly named CBOE Holdings, Inc.); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010). | 146 |
Matthew Thornton III 1958 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2020 | Formerly, Executive Vice President and Chief Operating Officer (2018-2019), FedEx Freight Corporation, a subsidiary of FedEx Corporation ("FedEx") (provider of transportation, e-commerce and business services through its portfolio of companies); formerly, Senior Vice President, U.S. Operations (2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly Member of the Board of Directors (2012-2018), Safe Kids Worldwide® (a non-profit organization dedicated to preventing childhood injuries). Member of the Board of Directors (since 2014), The Sherwin-Williams Company (develops, manufactures, distributes and sells paints, coatings and related products); Director (since 2020), Crown Castle International (provider of communications infrastructure). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (legal services, Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College. | 146 |
Robert L. Young 1963 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2017 | Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (financial services) (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (financial services) (formerly, One Group Dealer Services, Inc.) (1999-2017). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Officers of the Funds: | ||||
Christopher E. Stickrod 1976 333 W. Wacker Drive Chicago, IL 60606 | Chief Administrative Officer | 2020 | Senior Managing Director (since 2017) and Head of Advisory Product (since 2020), formerly, Managing Director (2016-2017) and Senior Vice President (2013-2016) of Nuveen; Senior Managing Director of Nuveen Securities, LLC (since 2018) and of Nuveen Fund Advisors, LLC (since 2019). | |
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402 | Vice President and Secretary | 2013 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2018). | |
Diana R. Gonzalez 1978 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2017 | Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management, LLC (2012-2017). | |
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Treasurer | 2016 | Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Managing Director (since 2015) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst. | |
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2002 | Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC. | |
Brian J. Lockhart 1974 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2019 | Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Vice President (2010-2017) of Nuveen; Head of Investment Oversight (since 2017), formerly, Team Leader of Manager Oversight (2015-2017); Chartered Financial Analyst and Certified Financial Risk Manager. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Jacques M. Longerstaey 1963 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President | 2019 | Senior Managing Director, Chief Risk Officer, Nuveen (since May 2019); Senior Managing Director (since May 2019) of Nuveen Fund Advisors, LLC; formerly, Chief Investment and Model Risk Officer, Wealth & Investment Management Division, Wells Fargo Bank (NA) (2013-2019). | |
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2007 | Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Fund Advisors, LLC, formerly, Co-General Counsel (2011-2020), Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) of Nuveen Asset Management, LLC, formerly, Associate General Counsel (2011-2020), Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC. | |
Jon Scott Meissner 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Assistant Secretary | 2019 | Managing Director of Mutual Fund Tax and Financial Reporting groups at Nuveen (since 2017); Managing Director of Nuveen Fund Advisors, LLC (since 2019); Senior Director of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC (since 2016); Senior Director (since 2015) Mutual Fund Taxation to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the CREF Accounts; has held various positions with TIAA since 2004. | |
Deann D. Morgan 1969 730 Third Avenue New York, NY 10017 | Vice President | 2020 | President, Nuveen Fund Advisors, LLC (since 2020); Executive Vice President, Global Head of Product at Nuveen (since 2019); Co-Chief Executive Officer of Nuveen Securities, LLC (since 2020); Managing Member of MDR Collaboratory LLC (since 2018); Managing Director, Head of Wealth Management Product Structuring & COO Multi Asset Investing. The Blackstone Group (2013-2017). | |
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Managing Director and Assistant Secretary (since 2017) of Nuveen Securities, LLC; Managing Director (since 2017), General Counsel (since 2020), and Assistant Secretary (since 2016), formerly, Senior Vice President (2016-2017), of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Managing Director (since 2017) and Associate General Counsel (since 2016), formerly, Senior Vice President (2012-2017) and Assistant General Counsel (2008-2016) of Nuveen. | |
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2017 | Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen. | |
E. Scott Wickerham 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Controller | 2019 | Senior Managing Director, Head of Public Investment Finance at Nuveen (since 2019), formerly, Managing Director; Senior Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) of the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and Principal Financial Officer, Principal Accounting Officer (since 2020) and Treasurer (since 2017) of the CREF Accounts; formerly, Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various positions with TIAA since 2006. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Mark L. Winget 1968 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2008), and Nuveen Fund Advisors, LLC (since 2019); Vice President, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Vice President (since 2010) and Associate General Counsel (since 2019), formerly, Assistant General Counsel (2008-2016) of Nuveen. | |
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Chief Compliance Officer | 1988 | Formerly: Managing Director (2002-2020) and Assistant Secretary (2002-2020) of Nuveen Securities, LLC; formerly, Managing Director (2002-2020), Assistant Secretary (1997-2020) and Co-General Counsel (2011-2020) of Nuveen Fund Advisors, LLC; formerly, Managing Director (2004-2020) and Assistant Secretary (1994-2020) of Nuveen Investments, Inc.; formerly, Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (2011-2020); formerly, Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (2002-2020), Santa Barbara Asset Management, LLC (2006-2020) and Winslow Capital Management, LLC (2010-2020); Chartered Financial Analyst. |
Serving Investors for Generations
Fund Name | Class A | Class C | Class R6 | Class I | ||
Nuveen Winslow International Small Cap Fund | NWAIX | NWSCX | NWIFX | NWPIX | ||
Nuveen Winslow Large-Cap Growth ESG Fund | NWCAX | NWCCX | NWCFX | NVLIX |
During May 2020, the Funds’ Board of Trustees (the “Board”) approved the merger of Nuveen Large Cap Growth Fund (the “Target Fund”) into Nuveen Winslow Large-Cap Growth ESG Fund (the “Acquiring Fund”) (the “Reorganization”). On September 28, 2020, the Reorganization was approved by shareholders of the Target Fund. Effective December 4, 2020, the Nuveen Winslow Large-Cap Growth ESG Fund acquired the Nuveen Large Cap Growth Fund.
On September 20, 2021 (subsequent to the close of this reporting period), the Board approved an amended and restated sub-advisory agreement, effective on December 1, 2021, between NFAL and Nuveen Asset Management, LLC (“NAM”), pursuant to which NAM will replace Winslow Capital as the Fund’s sub-adviser. NAM and Winslow Capital are both affiliates of NFAL and are subsidiaries of Nuveen, LLC. In connection therewith, the Board also approved that the Fund be renamed Nuveen International Small Cap Fund, effective December 1, 2021. The Fund’s portfolio management team and investment strategy will not be affected by these changes.
Total Returns as of July 31, 2021* | ||||||
Average Annual | Expense Ratios** | |||||
Inception Date | 1-Year | Since Inception | Gross | Net | ||
Class A Shares at NAV | 12/18/17 | 35.64% | 9.18% | 1.64% | 1.20% | |
Class A Shares at maximum Offering Price | 12/18/17 | 27.84% | 7.41% | - | - | |
MSCI World ex USA Small Cap Index (Net) | - | 39.10% | 8.01% | - | - | |
Lipper International Small/Mid-Cap Classification Average | - | 37.21% | 9.30% | - | - | |
Class C Shares | 12/18/17 | 34.65% | 8.36% | 2.39% | 1.94% | |
Class R6 Shares | 12/18/17 | 35.98% | 9.47% | 1.35% | 0.90% | |
Class I Shares | 12/18/17 | 35.94% | 9.45% | 1.39% | 0.95% |
Total Returns as of July 31, 2021* | |||||||
Average Annual | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | 10-Year | Gross | Net | ||
Class A Shares at NAV | 5/15/09 | 36.98% | 23.74% | 17.13% | 1.15% | 0.90% | |
Class A Shares at maximum Offering Price | 5/15/09 | 29.11% | 22.29% | 16.44% | - | - | |
Russell 1000® Growth Index | - | 36.68% | 23.32% | 18.37% | - | - | |
Lipper Large-Cap Growth Funds Classification Average | - | 34.60% | 21.91% | 16.88% | - | - | |
Class C Shares | 5/15/09 | 35.92% | 22.82% | 16.43% | 1.90% | 1.65% | |
Class I Shares | 5/15/09 | 37.30% | 24.05% | 17.42% | 0.90% | 0.65% |
Average Annual | |||||||
Total Returns as of July 31, 2021* | Expense Ratios** | ||||||
Inception Date | 1-Year | 5-Year | Since Inception | Gross | Net | ||
Class R6 Shares | 3/25/13 | 37.52% | 24.27% | 19.67% | 0.69% | 0.44% |
Fund Allocation (% of net assets) | |
Common Stocks | 97.2% |
Investments Purchased with Collateral from Securities Lending | 0.7% |
Repurchase Agreements | 3.3% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Pro Medicus Ltd | 2.1% |
goeasy Ltd | 2.1% |
APERAM SA | 2.1% |
Kongsberg Gruppen ASA | 2.0% |
Spectris PLC | 2.0% |
Portfolio Composition (% of net assets) | |
Trading Companies & Distributors | 7.4% |
Machinery | 6.7% |
Equity Real Estate Investment Trust | 6.0% |
Pharmaceuticals | 4.6% |
IT Services | 4.2% |
Food Products | 4.0% |
Banks | 3.4% |
Hotels, Restaurants & Leisure | 3.3% |
Electronic Equipment, Instruments & Components | 3.3% |
Beverages | 3.3% |
Oil, Gas & Consumable Fuels | 3.2% |
Health Care Providers & Services | 2.8% |
Metals & Mining | 2.8% |
Semiconductors & Semiconductor Equipment | 2.8% |
Software | 2.8% |
Distributors | 2.4% |
Construction Materials | 2.1% |
Health Care Technology | 2.1% |
Specialty Retail | 2.1% |
Consumer Finance | 2.1% |
Aerospace & Defense | 2.1% |
Insurance | 1.7% |
Thrifts & Mortgage Finance | 1.6% |
Internet & Direct Marketing Retail | 1.6% |
Other 1 | 18.8% |
Investments Purchased with Collateral from Securities Lending | 0.7% |
Repurchase Agreements | 3.3% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
Country Allocation2 (% of net assets) | |
Japan | 22.2% |
United Kingdom | 21.2% |
Canada | 14.3% |
Germany | 6.9% |
Australia | 5.1% |
United States | 4.0% |
Norway | 3.5% |
Israel | 3.4% |
Denmark | 3.2% |
Belgium | 2.9% |
Sweden | 2.8% |
Other 3 | 11.7% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. | |
2 | Includes 2.1% (as a percentage of net assets) in emerging market countries. | |
3 | "Other" countries include seven countries that individually constitute less than 2.8% as a percentage of total investments. |
Fund Allocation (% of net assets) | |
Common Stocks | 99.4% |
Investments Purchased with Collateral from Securities Lending | 0.0% |
Repurchase Agreements | 1.8% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
Portfolio Composition (% of net assets) | |
Software | 25.1% |
IT Services | 13.3% |
Internet & Direct Marketing Retail | 8.4% |
Semiconductors & Semiconductor Equipment | 8.1% |
Interactive Media & Services | 7.7% |
Textiles, Apparel & Luxury Goods | 4.7% |
Technology Hardware, Storage & Peripherals | 4.7% |
Hotels, Restaurants & Leisure | 4.1% |
Life Sciences Tools & Services | 3.5% |
Other 1 | 19.8% |
Investments Purchased with Collateral from Securities Lending | 0.0% |
Repurchase Agreements | 1.8% |
Other Assets Less Liabilities | (1.2)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Microsoft Corp | 9.6% |
Amazon.com Inc | 7.5% |
Apple Inc | 4.7% |
Adobe Inc | 4.4% |
Visa Inc, Class A | 4.1% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. |
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 | $1,176.71 | $1,172.17 | $1,177.88 | $1,177.95 |
Expenses Incurred During the Period | $ 6.42 | $ 10.50 | $ 4.91 | $ 5.13 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,018.89 | $1,015.12 | $1,020.28 | $1,020.08 |
Expenses Incurred During the Period | $ 5.96 | $ 9.74 | $ 4.56 | $ 4.76 |
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 | $1,216.28 | $1,211.65 | $1,218.63 | $1,217.72 |
Expenses Incurred During the Period | $ 5.00 | $ 9.10 | $ 2.70 | $ 3.63 |
Hypothetical Performance (5% annualized return before expenses) | ||||
Beginning Account Value | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value | $1,020.28 | $1,016.56 | $1,022.36 | $1,021.52 |
Expenses Incurred During the Period | $ 4.56 | $ 8.30 | $ 2.46 | $ 3.31 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 97.2% | ||||||
COMMON STOCKS – 97.2% | ||||||
Aerospace & Defense – 2.1% | ||||||
42,244 | Kongsberg Gruppen ASA, (2) | $ 1,209,908 | ||||
Auto Components – 1.2% | ||||||
37,800 | Toyo Tire Corp, (2) | 713,740 | ||||
Banks – 3.4% | ||||||
33,300 | Canadian Western Bank | 907,769 | ||||
232,810 | Israel Discount Bank Ltd, (2), (3) | 1,090,599 | ||||
Total Banks | 1,998,368 | |||||
Beverages – 3.3% | ||||||
68,705 | Britvic PLC | 930,648 | ||||
7,288 | Royal Unibrew A/S, (2) | 987,626 | ||||
Total Beverages | 1,918,274 | |||||
Building Products – 1.2% | ||||||
17,100 | AGC Inc/Japan, (2) | 731,250 | ||||
Capital Markets – 1.2% | ||||||
5,905 | flatexDEGIRO AG, (2), (3) | 713,565 | ||||
Chemicals – 0.9% | ||||||
29,300 | Tosoh Corp, (2) | 514,188 | ||||
Construction Materials – 2.1% | ||||||
31,200 | Taiheiyo Cement Corp, (2) | 726,918 | ||||
10,660 | Vicat SA, (2) | 537,373 | ||||
Total Construction Materials | 1,264,291 | |||||
Consumer Finance – 2.1% | ||||||
8,900 | goeasy Ltd | 1,219,862 | ||||
Distributors – 2.4% | ||||||
5,465 | D'ieteren Group, (2) | 875,921 | ||||
11,950 | PALTAC Corp, (2) | 554,981 | ||||
Total Distributors | 1,430,902 | |||||
Diversified Financial Services – 1.0% | ||||||
13,200 | Zenkoku Hosho Co Ltd, (2) | 598,896 | ||||
Electronic Equipment, Instruments & Components – 3.3% | ||||||
42,600 | Anritsu Corp, (2) | 744,547 |
Shares | Description (1) | Value | ||||
Electronic Equipment, Instruments & Components (continued) | ||||||
23,848 | Spectris PLC, (2) | $ 1,183,728 | ||||
Total Electronic Equipment, Instruments & Components | 1,928,275 | |||||
Equity Real Estate Investment Trust – 6.0% | ||||||
6,031 | Aedifica SA, (2) | 863,983 | ||||
16,000 | Canadian Apartment Properties REIT | 799,615 | ||||
65,000 | Safestore Holdings PLC | 954,096 | ||||
57,360 | UNITE Group PLC | 922,880 | ||||
Total Equity Real Estate Investment Trust | 3,540,574 | |||||
Food & Staples Retailing – 1.5% | ||||||
2,420 | Zur Rose Group AG, (3) | 900,304 | ||||
Food Products – 4.0% | ||||||
14,000 | Morinaga Milk Industry Co Ltd, (2) | 784,467 | ||||
26,800 | Nichirei Corp, (2) | 733,234 | ||||
12,666 | Salmar ASA, (2) | 840,158 | ||||
Total Food Products | 2,357,859 | |||||
Health Care Equipment & Supplies – 1.0% | ||||||
157,070 | Nanosonics Ltd, (2), (3) | 614,816 | ||||
Health Care Providers & Services – 2.8% | ||||||
21,750 | CVS Group PLC, (2), (3) | 726,308 | ||||
37,800 | Ship Healthcare Holdings Inc, (2) | 953,232 | ||||
Total Health Care Providers & Services | 1,679,540 | |||||
Health Care Technology – 2.1% | ||||||
29,545 | Pro Medicus Ltd, (2) | 1,262,966 | ||||
Hotels, Restaurants & Leisure – 3.3% | ||||||
24,135 | Greggs PLC, (2), (3) | 924,799 | ||||
161,502 | SSP Group Plc, (2), (3) | 585,666 | ||||
11,700 | Tokyotokeiba Co Ltd, (2) | 465,955 | ||||
Total Hotels, Restaurants & Leisure | 1,976,420 | |||||
Household Durables – 1.0% | ||||||
13,600 | Kaufman & Broad SA, (2) | 603,447 | ||||
Independent Power & Renewable Electricity Producers – 1.6% | ||||||
27,500 | Capital Power Corp | 932,390 | ||||
Industrial Conglomerates – 1.1% | ||||||
6,554 | Rheinmetall AG, (2) | 628,921 | ||||
Insurance – 1.7% | ||||||
186,405 | Beazley PLC, (3) | 1,016,721 |
Shares | Description (1) | Value | ||||
Interactive Media & Services – 1.1% | ||||||
41,073 | carsalescom Ltd, (2) | $ 662,302 | ||||
Internet & Direct Marketing Retail – 1.6% | ||||||
33,700 | ASKUL Corp, (2) | 508,701 | ||||
27,750 | BHG Group AB, (3) | 428,094 | ||||
Total Internet & Direct Marketing Retail | 936,795 | |||||
IT Services – 4.2% | ||||||
33,392 | Kainos Group PLC | 801,586 | ||||
26,900 | Nihon Unisys Ltd, (2) | 811,140 | ||||
33,800 | TIS Inc, (2) | 876,645 | ||||
Total IT Services | 2,489,371 | |||||
Machinery – 6.7% | ||||||
70,700 | Amada Co Ltd, (2) | 726,664 | ||||
34,590 | IMI PLC, (2) | 846,241 | ||||
2,502 | Kardex Holding AG, (2) | 672,933 | ||||
10,207 | KION Group AG, (2) | 1,083,921 | ||||
25,095 | Trelleborg AB, (2) | 620,339 | ||||
Total Machinery | 3,950,098 | |||||
Marine – 0.9% | ||||||
39,842 | Atlas Corp, (4) | 520,735 | ||||
Metals & Mining – 2.8% | ||||||
19,393 | APERAM SA, (2) | 1,215,381 | ||||
349,351 | St Barbara Ltd, (2) | 452,307 | ||||
Total Metals & Mining | 1,667,688 | |||||
Multiline Retail – 1.3% | ||||||
26,215 | Tokmanni Group Corp, (2) | 756,892 | ||||
Oil, Gas & Consumable Fuels – 3.2% | ||||||
28,600 | Parkland Corp/Canada | 910,312 | ||||
35,200 | Tourmaline Oil Corp | 960,975 | ||||
Total Oil, Gas & Consumable Fuels | 1,871,287 | |||||
Pharmaceuticals – 4.6% | ||||||
13,060 | Dechra Pharmaceuticals PLC | 902,225 | ||||
9,681 | Dermapharm Holding SE, (2) | 774,415 | ||||
15,135 | Laboratorios Farmaceuticos Rovi SA | 1,068,256 | ||||
Total Pharmaceuticals | 2,744,896 | |||||
Professional Services – 1.2% | ||||||
20,100 | en Japan Inc, (2) | 701,905 | ||||
Real Estate Management & Development – 1.4% | ||||||
25,770 | TAG Immobilien AG, (2) | 854,646 |
Shares | Description (1) | Value | ||||
Road & Rail – 1.2% | ||||||
15,300 | Sankyu Inc, (2) | $ 687,695 | ||||
Semiconductors & Semiconductor Equipment – 2.8% | ||||||
8,395 | BE Semiconductor Industries NV, (2) | 736,733 | ||||
33,000 | Tower Semiconductor Ltd, (3) | 919,050 | ||||
Total Semiconductors & Semiconductor Equipment | 1,655,783 | |||||
Software – 2.8% | ||||||
5,450 | Kinaxis Inc, (3) | 707,067 | ||||
7,440 | Netcompany Group A/S,144A, (2) | 919,130 | ||||
Total Software | 1,626,197 | |||||
Specialty Retail – 2.1% | ||||||
27,105 | Bilia AB, (2) | 581,589 | ||||
38,300 | United Arrows Ltd, (2), (3) | 665,778 | ||||
Total Specialty Retail | 1,247,367 | |||||
Thrifts & Mortgage Finance – 1.6% | ||||||
142,946 | OSB Group PLC | 961,684 | ||||
Trading Companies & Distributors – 7.4% | ||||||
66,000 | BOC Aviation Ltd,144A, (2) | 485,276 | ||||
48,430 | Electrocomponents PLC, (2) | 684,206 | ||||
86,626 | Howden Joinery Group PLC, (2) | 1,079,496 | ||||
22,800 | Nishio Rent All Co Ltd, (2) | 623,886 | ||||
27,400 | Russel Metals Inc | 773,068 | ||||
8,250 | Toromont Industries Ltd | 697,176 | ||||
Total Trading Companies & Distributors | 4,343,108 | |||||
Total Long-Term Investments (cost $44,905,839) | 57,433,926 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.7% | ||||||
MONEY MARKET FUNDS – 0.7% | ||||||
383,408 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.050% (6) | $ 383,408 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $383,408) | 383,408 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 3.3% | ||||||
REPURCHASE AGREEMENTS – 3.3% | ||||||
$ 1,956 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/21, repurchase price $1,956,046, collateralized by $1,397,800, U.S. Treasury Bonds, 4.500%, due 5/15/38, value $1,995,305 | 0.000% | 8/02/21 | $ 1,956,046 | ||
Total Short-Term Investments (cost $1,956,046) | 1,956,046 | |||||
Total Investments (cost $47,245,293) – 101.2% | 59,773,380 | |||||
Other Assets Less Liabilities – (1.2)% | (714,690) | |||||
Net Assets – 100% | $ 59,058,690 |
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) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(3) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(4) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $371,188. | |
(5) | The Fund may loan securities representing up to one third of the market value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The collateral maintained by the Fund shall have a market value, at the inception of each loan, equal to not less than 100% of the market value of the loaned securities. The cash collateral received by the Fund is invested in this money market fund. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
REIT | Real Estate Investment Trust |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 99.4% | ||||||
COMMON STOCKS – 99.4% | ||||||
Automobiles – 1.4% | ||||||
586,700 | Lucid Group Inc, Class A, (2), (3) | $ 12,719,656 | ||||
Capital Markets – 3.1% | ||||||
29,770 | Moody's Corp | 11,193,520 | ||||
79,350 | Morgan Stanley | 7,616,013 | ||||
14,802 | MSCI Inc | 8,821,400 | ||||
Total Capital Markets | 27,630,933 | |||||
Chemicals – 2.7% | ||||||
40,876 | Ecolab Inc | 9,026,647 | ||||
46,842 | Linde PLC | 14,398,762 | ||||
Total Chemicals | 23,425,409 | |||||
Containers & Packaging – 1.2% | ||||||
129,389 | Ball Corp | 10,464,982 | ||||
Electronic Equipment, Instruments & Components – 1.3% | ||||||
79,025 | TE Connectivity Ltd | 11,653,817 | ||||
Health Care Equipment & Supplies – 3.1% | ||||||
21,944 | Align Technology Inc, (3) | 15,268,635 | ||||
107,732 | Edwards Lifesciences Corp, (3) | 12,095,072 | ||||
Total Health Care Equipment & Supplies | 27,363,707 | |||||
Health Care Providers & Services – 1.2% | ||||||
26,153 | UnitedHealth Group Inc | 10,780,790 | ||||
Health Care Technology – 0.2% | ||||||
26,800 | Doximity Inc, Class A, (3) | 1,658,920 | ||||
Hotels, Restaurants & Leisure – 4.1% | ||||||
6,476 | Chipotle Mexican Grill Inc, (3) | 12,067,637 | ||||
86,600 | Hilton Worldwide Holdings Inc, (3) | 11,383,570 | ||||
102,950 | Starbucks Corp | 12,501,219 | ||||
Total Hotels, Restaurants & Leisure | 35,952,426 | |||||
Interactive Media & Services – 7.7% | ||||||
12,463 | Alphabet Inc, Class A, (3) | 33,581,927 | ||||
12,737 | Alphabet Inc, Class C, (3) | 34,446,198 | ||||
Total Interactive Media & Services | 68,028,125 |
Shares | Description (1) | Value | ||||
Internet & Direct Marketing Retail – 8.4% | ||||||
19,840 | Amazon.com Inc, (3) | $66,019,386 | ||||
5,420 | MercadoLibre Inc, (3) | 8,502,354 | ||||
Total Internet & Direct Marketing Retail | 74,521,740 | |||||
IT Services – 13.3% | ||||||
65,586 | Mastercard Inc, Class A | 25,312,261 | ||||
76,425 | PayPal Holdings Inc, (3) | 21,057,380 | ||||
6,550 | Shopify Inc, Class A, (3) | 9,824,542 | ||||
46,792 | Square Inc, Class A, (3) | 11,569,790 | ||||
148,351 | Visa Inc, Class A | 36,552,203 | ||||
43,324 | Wixcom Ltd, (3) | 12,938,279 | ||||
Total IT Services | 117,254,455 | |||||
Life Sciences Tools & Services – 3.5% | ||||||
103,915 | Agilent Technologies Inc | 15,922,895 | ||||
10,100 | Bio-Techne Corp | 4,870,624 | ||||
40,430 | IQVIA Holdings Inc, (3) | 10,014,511 | ||||
Total Life Sciences Tools & Services | 30,808,030 | |||||
Machinery – 0.7% | ||||||
18,500 | Parker-Hannifin Corp | 5,772,555 | ||||
Personal Products – 1.2% | ||||||
31,875 | Estee Lauder Cos Inc, Class A | 10,640,831 | ||||
Pharmaceuticals – 2.1% | ||||||
89,535 | Zoetis Inc | 18,148,744 | ||||
Real Estate Management & Development – 0.0% | ||||||
24,700 | Compass Inc, Class A, (3), (4) | 337,402 | ||||
Semiconductors & Semiconductor Equipment – 8.1% | ||||||
86,300 | Advanced Micro Devices Inc, (3) | 9,164,197 | ||||
30,083 | ASML Holding NV | 23,065,839 | ||||
154,256 | NVIDIA Corp | 30,078,378 | ||||
50,177 | Texas Instruments Inc | 9,564,740 | ||||
Total Semiconductors & Semiconductor Equipment | 71,873,154 | |||||
Software – 25.1% | ||||||
63,411 | Adobe Inc, (3) | 39,418,180 | ||||
37,016 | Atlassian Corp PLC, Class A, (3) | 12,034,642 | ||||
29,098 | Autodesk Inc, (3) | 9,344,241 | ||||
40,834 | Intuit Inc | 21,640,795 | ||||
296,872 | Microsoft Corp | 84,581,801 | ||||
43,300 | PTC Inc, (3) | 5,864,985 | ||||
77,374 | salesforce.com Inc, (3) | 18,719,092 |
Shares | Description (1) | Value | ||||
Software (continued) | ||||||
27,500 | ServiceNow Inc, (3) | $16,166,975 | ||||
57,622 | Workday Inc, Class A, (3) | 13,506,597 | ||||
Total Software | 221,277,308 | |||||
Specialty Retail – 1.6% | ||||||
75,630 | Lowe's Cos Inc | 14,573,145 | ||||
Technology Hardware, Storage & Peripherals – 4.7% | ||||||
283,357 | Apple Inc | 41,330,452 | ||||
Textiles, Apparel & Luxury Goods – 4.7% | ||||||
29,280 | Lululemon Athletica Inc, (3) | 11,716,977 | ||||
177,996 | NIKE Inc, Class B | 29,816,110 | ||||
Total Textiles, Apparel & Luxury Goods | 41,533,087 | |||||
Total Long-Term Investments (cost $434,905,804) | 877,749,668 |
Shares | Description (1) | Coupon | Value | |||
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.0% | ||||||
MONEY MARKET FUNDS – 0.0% | ||||||
240,657 | State Street Navigator Securities Lending Government Money Market Portfolio, (5) | 0.050% (6) | $ 240,657 | |||
Total Investments Purchased with Collateral from Securities Lending (cost $240,657) | 240,657 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Value | ||
SHORT-TERM INVESTMENTS – 1.8% | ||||||
REPURCHASE AGREEMENTS – 1.8% | ||||||
$ 15,714 | Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/21, repurchase price $15,713,598, collateralized by $15,784,500, U.S. Treasury Bonds, 1.875%, due 2/15/41, value $16,027,917 | 0.000% | 8/02/21 | $ 15,713,598 | ||
Total Short-Term Investments (cost $15,713,598) | 15,713,598 | |||||
Total Investments (cost $450,860,059) – 101.2% | 893,703,923 | |||||
Other Assets Less Liabilities – (1.2)% | (10,362,996) | |||||
Net Assets – 100% | $ 883,340,927 |
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) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. | |
(3) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
(4) | Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $239,050. | |
(5) | The Fund may loan securities representing up to one third of the market value of its total assets (which includes collateral for securities on loan) to broker dealers, banks, and other institutions. The collateral maintained by the Fund shall have a market value, at the inception of each loan, equal to not less than 100% of the market value of the loaned securities. The cash collateral received by the Fund is invested in this money market fund. | |
(6) | The rate shown is the one-day yield as of the end of the reporting period. |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
Assets | ||
Long-term investments, at value (cost $44,905,839 and $434,905,804, respectively)(1) | $57,433,926 | $877,749,668 |
Investment purchased with collateral from securities lending, at value (cost approximates value) | 383,408 | 240,657 |
Short-term investments, at value (cost approximates value) | 1,956,046 | 15,713,598 |
Cash denominated in foreign currencies (cost $45,362 and $—, respectively) | 45,029 | — |
Receivable for: | ||
Dividends | 44,083 | 211,585 |
Investments sold | 266,913 | — |
Reclaims | 39,886 | — |
Shares sold | 351,500 | 963,407 |
Other assets | 36,503 | 188,576 |
Total assets | 60,557,294 | 895,067,491 |
Liabilities | ||
Payable for: | ||
Collateral from securities lending program | 383,408 | 240,657 |
Investments purchased - regular settlement | 983,519 | 9,886,366 |
Shares redeemed | — | 569,861 |
Accrued expenses: | ||
Management fees | 36,995 | 104,347 |
Trustees fees | 429 | 149,459 |
12b-1 distribution and service fees | 196 | 58,490 |
Other | 94,057 | 717,384 |
Total liabilities | 1,498,604 | 11,726,564 |
Net assets | $59,058,690 | $883,340,927 |
Class A Shares | ||
Net assets | $ 767,439 | $180,290,676 |
Shares outstanding | 28,880 | 2,978,866 |
Net asset value ("NAV") per share | $ 26.57 | $ 60.52 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 28.19 | $ 64.21 |
Class C Shares | ||
Net assets | $ 50,218 | $ 24,603,909 |
Shares outstanding | 1,911 | 490,458 |
NAV and offering price per share | $ 26.28 | $ 50.17 |
Class R6 Shares | ||
Net assets | $42,405,504 | $109,867,395 |
Shares outstanding | 1,592,696 | 1,695,945 |
NAV and offering price per share | $ 26.62 | $ 64.78 |
Class I Shares | ||
Net assets | $15,835,529 | $568,578,947 |
Shares outstanding | 595,086 | 8,954,249 |
NAV and offering price per share | $ 26.61 | $ 63.50 |
Fund level net assets consist of: | ||
Capital paid-in | $45,358,796 | $391,040,285 |
Total distributable earnings | 13,699,894 | 492,300,642 |
Fund level net assets | $59,058,690 | $883,340,927 |
Authorized shares - per class | Unlimited | Unlimited |
Par value per share | $ 0.01 | $ 0.01 |
(1) | Includes securities loaned of $371,188 and $239,050 for Winslow International Small Cap and Winslow Large-Cap Growth ESG, respectively. |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
Investment Income | ||
Dividends | $ 1,261,710 | $ 4,271,108 |
Securities lending income, net | 4,386 | 3,745 |
Foreign tax withheld on dividend income | (119,165) | (26,057) |
Total investment income | 1,146,931 | 4,248,796 |
Expenses | ||
Management fees | 431,650 | 5,536,007 |
12b-1 service fees - Class A Shares | 1,458 | 310,171 |
12b-1 distribution and service fees - Class C Shares | 311 | 199,527 |
12b-1 distribution and service fees - Class R3 Shares(1) | — | 3,291 |
Shareholder servicing agent fees | 5,265 | 1,123,212 |
Interest expense | 238 | 3,279 |
Custodian fees | 47,436 | 77,227 |
Professional fees | 27,732 | 119,923 |
Trustees fees | 1,279 | 29,572 |
Shareholder reporting expenses | 12,027 | 130,395 |
Federal and state registration fees | 62,207 | 108,756 |
Reorganization expense | — | 286,485 |
Other | 6,674 | 26,963 |
Total expenses before fee waiver/expense reimbursement | 596,277 | 7,954,808 |
Fee waiver/expense reimbursement | (128,994) | (1,819,259) |
Net expenses | 467,283 | 6,135,549 |
Net investment income (loss) | 679,648 | (1,886,753) |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) from: | ||
Investments | 3,694,703 | 97,700,914 |
In-kind redemptions | — | 220,559,162 |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | 11,022,967 | (52,086,626) |
Net realized and unrealized gain (loss) | 14,717,670 | 266,173,450 |
Net increase (decrease) in net assets from operations | $15,397,318 | $264,286,697 |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | ||||
Year Ended 7/31/21 | Year Ended 7/31/20 | Year Ended 7/31/21 | Year Ended 7/31/20 | ||
Operations | |||||
Net investment income (loss) | $ 679,648 | $ 540,501 | $ (1,886,753) | $ 52,608 | |
Net realized gain (loss) from: | |||||
Investments | 3,694,703 | (1,707,611) | 97,700,914 | 41,959,410 | |
In-kind redemptions | — | — | 220,559,162 | — | |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | 11,022,967 | 581,755 | (52,086,626) | 145,449,624 | |
Net increase (decrease) in net assets from operations | 15,397,318 | (585,355) | 264,286,697 | 187,461,642 | |
Distributions to Shareholders | |||||
Dividends: | |||||
Class A Shares | (5,928) | (10,039) | (2,441,281) | (1,890,108) | |
Class C Shares | (119) | (364) | (625,700) | (376,254) | |
Class R3 Shares(1) | — | — | (56,634) | (34,223) | |
Class R6 Shares | (490,236) | (796,514) | (4,083,944) | (7,434,275) | |
Class I Shares | (164,619) | (265,418) | (42,333,883) | (51,356,225) | |
Decrease in net assets from distributions to shareholders | (660,902) | (1,072,335) | (49,541,442) | (61,091,085) | |
Fund Share Transactions | |||||
Fund reorganization | — | — | 198,087,663 | — | |
Proceeds from sale of shares | 6,327,229 | 2,000,239 | 184,810,396 | 237,092,114 | |
Proceeds from shares issued to shareholders due to reinvestment of distributions | 177,255 | 284,669 | 48,739,250 | 60,079,316 | |
6,504,484 | 2,284,908 | 431,637,309 | 297,171,430 | ||
Cost of shares redeemed | (5,703,947) | (790,596) | (631,808,214) | (290,796,500) | |
Net increase (decrease) in net assets from Fund share transactions | 800,537 | 1,494,312 | (200,170,905) | 6,374,930 | |
Net increase (decrease) in net assets | 15,536,953 | (163,378) | 14,574,350 | 132,745,487 | |
Net assets at the beginning of period | 43,521,737 | 43,685,115 | 868,766,577 | 736,021,090 | |
Net assets at the end of period | $59,058,690 | $43,521,737 | $ 883,340,927 | $ 868,766,577 |
(1) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 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 (12/17) | |||||||||
2021 | $19.80 | $0.25 | $ 6.77 | $ 7.02 | $(0.25) | $ — | $(0.25) | $26.57 | |
2020 | 20.48 | 0.19 | (0.42) | (0.23) | (0.45) | — | (0.45) | 19.80 | |
2019 | 20.17 | 0.34 | 0.02 | 0.36 | (0.05) | — | (0.05) | 20.48 | |
2018(d) | 20.00 | 0.23 | (0.06) | 0.17 | — | — | — | 20.17 | |
Class C (12/17) | |||||||||
2021 | 19.60 | 0.07 | 6.71 | 6.78 | (0.10) | — | (0.10) | 26.28 | |
2020 | 20.28 | 0.04 | (0.43) | (0.39) | (0.29) | — | (0.29) | 19.60 | |
2019 | 20.07 | 0.17 | 0.04 | 0.21 | — | — | — | 20.28 | |
2018(d) | 20.00 | 0.08 | (0.01) | 0.07 | — | — | — | 20.07 | |
Class R6 (12/17) | |||||||||
2021 | 19.84 | 0.32 | 6.77 | 7.09 | (0.31) | — | (0.31) | 26.62 | |
2020 | 20.50 | 0.25 | (0.41) | (0.16) | (0.50) | — | (0.50) | 19.84 | |
2019 | 20.20 | 0.41 | (0.01) | 0.40 | (0.10) | — | (0.10) | 20.50 | |
2018(d) | 20.00 | 0.21 | (0.01) | 0.20 | — | — | — | 20.20 | |
Class I (12/17) | |||||||||
2021 | 19.83 | 0.31 | 6.77 | 7.08 | (0.30) | — | (0.30) | 26.61 | |
2020 | 20.50 | 0.25 | (0.42) | (0.17) | (0.50) | — | (0.50) | 19.83 | |
2019 | 20.20 | 0.42 | (0.02) | 0.40 | (0.10) | — | (0.10) | 20.50 | |
2018(d) | 20.00 | 0.24 | (0.04) | 0.20 | — | — | — | 20.20 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(b) | ||||||
Total Return | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(c) | |
35.64% | $ 767 | 1.45% | 0.82% | 1.20% | 1.07% | 72 | |
(1.35) | 459 | 1.64 | 0.52 | 1.20 | 0.97 | 43 | |
1.83 | 471 | 1.73 | 1.18 | 1.20 | 1.72 | 26 | |
0.85 | 234 | 4.49* | (1.47)* | 1.20* | 1.82* | 44 | |
34.65 | 50 | 2.20 | 0.03 | 1.94 | 0.29 | 72 | |
(2.07) | 25 | 2.39 | (0.23) | 1.94 | 0.22 | 43 | |
1.05 | 25 | 2.49 | 0.35 | 1.95 | 0.88 | 26 | |
0.35 | 25 | 5.12* | (2.54)* | 1.95* | 0.63* | 44 | |
35.98 | 42,406 | 1.17 | 1.10 | 0.91 | 1.36 | 72 | |
(1.01) | 31,637 | 1.35 | 0.81 | 0.90 | 1.26 | 43 | |
2.07 | 32,539 | 1.45 | 1.58 | 0.92 | 2.11 | 26 | |
1.00 | 2,076 | 4.19* | (1.61)* | 0.94* | 1.64* | 44 | |
35.94 | 15,836 | 1.20 | 1.08 | 0.95 | 1.33 | 72 | |
(1.07) | 11,401 | 1.39 | 0.80 | 0.95 | 1.24 | 43 | |
2.07 | 10,649 | 1.48 | 1.61 | 0.95 | 2.14 | 26 | |
1.00 | 5,135 | 4.47* | (1.63)* | 0.95* | 1.89* | 44 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | After fee waiver and/or expense reimbursement from the Adviser, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(c) | 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) divided by the average long-term market value during the period. |
(d) | For the period December 18, 2017 (commencement of operations) through July 31, 2018. |
* | Annualized. |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 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 (05/09) | |||||||||
2021 | $46.78 | $(0.25) | $16.90 | $16.65 | $ — | $(2.91) | $(2.91) | $60.52 | |
2020 | 39.94 | (0.11) | 10.46 | 10.35 | — | (3.51) | (3.51) | 46.78 | |
2019 | 43.15 | (0.08) | 3.11 | 3.03 | — | (6.24) | (6.24) | 39.94 | |
2018 | 40.73 | (0.10) | 9.57 | 9.47 | — | (7.05) | (7.05) | 43.15 | |
2017 | 40.08 | (0.04) | 6.49 | 6.45 | — | (5.80) | (5.80) | 40.73 | |
Class C (05/09) | |||||||||
2021 | 39.51 | (0.54) | 14.11 | 13.57 | — | (2.91) | (2.91) | 50.17 | |
2020 | 34.50 | (0.35) | 8.87 | 8.52 | — | (3.51) | (3.51) | 39.51 | |
2019 | 38.48 | (0.32) | 2.58 | 2.26 | — | (6.24) | (6.24) | 34.50 | |
2018 | 37.27 | (0.37) | 8.63 | 8.26 | — | (7.05) | (7.05) | 38.48 | |
2017 | 37.42 | (0.31) | 5.96 | 5.65 | — | (5.80) | (5.80) | 37.27 | |
Class R6 (03/13) | |||||||||
2021 | 49.70 | (0.02) | 18.01 | 17.99 | — | (2.91) | (2.91) | 64.78 | |
2020 | 42.14 | 0.09 | 11.09 | 11.18 | (0.11) | (3.51) | (3.62) | 49.70 | |
2019 | 45.00 | 0.09 | 3.31 | 3.40 | (0.02) | (6.24) | (6.26) | 42.14 | |
2018 | 42.12 | 0.08 | 9.94 | 10.02 | (0.09) | (7.05) | (7.14) | 45.00 | |
2017 | 41.11 | 0.11 | 6.73 | 6.84 | (0.03) | (5.80) | (5.83) | 42.12 | |
Class I (05/09) | |||||||||
2021 | 48.84 | (0.09) | 17.66 | 17.57 | — | (2.91) | (2.91) | 63.50 | |
2020 | 41.48 | — | 10.90 | 10.90 | (0.03) | (3.51) | (3.54) | 48.84 | |
2019 | 44.47 | 0.02 | 3.25 | 3.27 | (0.02) | (6.24) | (6.26) | 41.48 | |
2018 | 41.76 | —* | 9.85 | 9.85 | (0.09) | (7.05) | (7.14) | 44.47 | |
2017 | 40.88 | 0.05 | 6.66 | 6.71 | (0.03) | (5.80) | (5.83) | 41.76 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | ||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(d) | |
36.98% | $180,291 | 1.14% | (0.70) % | 0.91% | (0.47) % | 67 | |
27.68 | 35,663 | 1.20 | (0.49) | 0.98 | (0.27) | 59 | |
10.59 | 20,564 | 1.16 | (0.37) | 0.98 | (0.19) | 70 | |
25.97 | 17,709 | 1.18 | (0.44) | 0.98 | (0.24) | 56 | |
19.08 | 17,526 | 1.16 | (0.29) | 0.98 | (0.12) | 65 | |
35.92 | 24,604 | 1.89 | (1.44) | 1.66 | (1.21) | 67 | |
26.72 | 7,154 | 1.95 | (1.25) | 1.73 | (1.03) | 59 | |
9.78 | 3,256 | 1.90 | (1.14) | 1.73 | (0.96) | 70 | |
25.01 | 1,460 | 1.93 | (1.18) | 1.73 | (0.99) | 56 | |
18.21 | 1,557 | 1.91 | (1.04) | 1.73 | (0.87) | 65 | |
37.52 | 109,867 | 0.76 | (0.25) | 0.54 | (0.03) | 67 | |
28.27 | 92,220 | 0.74 | —** | 0.52 | 0.22 | 59 | |
11.07 | 97,922 | 0.74 | 0.03 | 0.57 | 0.21 | 70 | |
26.50 | 81,125 | 0.75 | (0.02) | 0.55 | 0.18 | 56 | |
19.59 | 63,065 | 0.74 | 0.11 | 0.57 | 0.29 | 65 | |
37.30 | 568,579 | 0.90 | (0.38) | 0.69 | (0.17) | 67 | |
28.02 | 733,217 | 0.95 | (0.22) | 0.73 | —** | 59 | |
10.88 | 613,680 | 0.91 | (0.12) | 0.73 | 0.06 | 70 | |
26.27 | 606,814 | 0.93 | (0.19) | 0.73 | —** | 56 | |
19.39 | 584,995 | 0.91 | (0.04) | 0.73 | 0.13 | 65 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | 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. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, when applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, for more information. |
(d) | 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) divided by the average long-term market value during the period. |
* | Rounds to less than $.01 per share. |
** | Rounds to less than 0.01%. |
Winslow International Small Cap | Value | % of Net Assets |
Country: | ||
Japan | $13,123,822 | 22.2% |
United Kingdom | 12,520,284 | 21.2 |
Canada | 8,428,969 | 14.3 |
Germany | 4,055,468 | 6.9 |
Australia | 2,992,391 | 5.1 |
Norway | 2,050,066 | 3.5 |
Israel | 2,009,649 | 3.4 |
Denmark | 1,906,756 | 3.2 |
Belgium | 1,739,904 | 2.9 |
Sweden | 1,630,022 | 2.8 |
Other | 6,976,595 | 11.7 |
Total non-U.S. securities | $57,433,926 | 97.2% |
Winslow International Small Cap | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $18,234,513 | $39,199,413** | $ — | $57,433,926 |
Investments Purchased with Collateral from Securities Lending | 383,408 | — | — | 383,408 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 1,956,046 | — | 1,956,046 |
Total | $18,617,921 | $41,155,459 | $ — | $59,773,380 |
Winslow Large-Cap Growth ESG | Level 1 | Level 2 | Level 3 | Total |
Long-Term Investments*: | ||||
Common Stocks | $865,030,012 | $ — | $12,719,656*** | $877,749,668 |
Investments Purchased with Collateral from Securities Lending | 240,657 | — | — | 240,657 |
Short-Term Investments: | ||||
Repurchase Agreements | — | 15,713,598 | — | 15,713,598 |
Total | $865,270,669 | $15,713,598 | $12,719,656 | $893,703,923 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 2. |
*** | Refer to the Fund's Portfolio of Investments for securities classified as Level 3. |
Level 3 | |
Total | |
Balance at the beginning of period | $ - |
Gains (losses): | |
Net realized gains (losses) | – |
Change in net unrealized appreciation (depreciation) | 3,919,156 |
Purchases at cost | 8,800,500 |
Sales at proceeds | – |
Net discounts (premiums) | – |
Transfers into | – |
Transfers (out of) | – |
Balance at the end of period | $12,719,656 |
Change in net unrealized appreciation (depreciation) during the period of Level 3 securities held as of period end | 3,919,156 |
Fund | Counterparty | Short-Term Investments, at Value | Collateral Pledged (From) Counterparty | |
Winslow International Small Cap | Fixed Income Clearing Corporation | $ 1,956,046 | $ (1,995,305) | |
Winslow Large-Cap Growth ESG | Fixed Income Clearing Corporation | 15,713,598 | (16,027,917) |
Fund | Asset Class out on Loan | Long-Term Investments, at Value | Total Collateral Received |
Winslow International Small Cap | Common Stock | $371,188 | $383,408 |
Winslow Large-Cap Growth ESG | Common Stock | $239,050 | $240,657 |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
Purchases | $35,613,407 | $561,613,559 |
Sales | 35,950,571 | 871,815,291 |
Year Ended 7/31/21 | Year Ended 7/31/20 | ||||
Winslow International Small Cap | Shares | Amount | Shares | Amount | |
Shares sold: | |||||
Class A | 5,527 | $ 136,319 | 3,109 | $ 61,101 | |
Class C | 661 | 16,840 | — | — | |
Class R6 | 5,674 | 130,701 | 7,314 | 149,577 | |
Class I | 239,564 | 6,043,369 | 82,812 | 1,789,561 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 247 | 5,620 | 431 | 9,480 | |
Class C | — | — | — | — | |
Class R6 | 358 | 8,172 | 473 | 10,394 | |
Class I | 7,173 | 163,463 | 12,053 | 264,795 | |
259,204 | 6,504,484 | 106,192 | 2,284,908 | ||
Shares redeemed: | |||||
Class A | (78) | (1,726) | (3,361) | (69,981) | |
Class C | — | — | — | — | |
Class R6 | (8,005) | (195,100) | (98) | (1,975) | |
Class I | (226,691) | (5,507,121) | (39,353) | (718,640) | |
(234,774) | (5,703,947) | (42,812) | (790,596) | ||
Net increase (decrease) | 24,430 | $ 800,537 | 63,380 | $1,494,312 |
Year Ended 7/31/21 | Year Ended 7/31/20 | ||||
Winslow Large-Cap Growth ESG | Shares | Amount | Shares | Amount | |
Shares issued in the reorganization(1): | |||||
Class A | 2,346,665 | $ 115,690,573 | — | $ — | |
Class C | 525,829 | 21,595,807 | — | — | |
Class R3(2) | — | — | — | — | |
Class R6 | 10,098 | 531,444 | — | — | |
Class I | 1,167,115 | 60,269,839 | — | — | |
Shares sold: | |||||
Class A | 482,762 | 24,823,977 | 420,371 | 16,709,848 | |
Class A – automatic conversion of Class C Shares | 3,040 | 160,914 | — | — | |
Class A - automatic conversion of Class R3 Shares | 13,373 | 723,327 | — | — | |
Class C | 78,582 | 3,386,724 | 119,628 | 4,050,029 | |
Class R3(2) | 8,255 | 398,748 | 1,705 | 68,663 | |
Class R6 | 573,262 | 32,637,426 | 1,215,585 | 51,246,868 | |
Class I | 2,281,560 | 122,679,280 | 3,867,093 | 165,016,706 | |
Shares issued to shareholders due to reinvestment of distributions: | |||||
Class A | 36,914 | 1,823,166 | 29,061 | 1,122,908 | |
Class C | 15,205 | 625,700 | 11,289 | 370,046 | |
Class R3(2) | 1,214 | 56,634 | 933 | 34,223 | |
Class R6 | 77,450 | 4,083,944 | 181,143 | 7,434,275 | |
Class I | 814,804 | 42,149,806 | 1,268,301 | 51,117,864 | |
8,436,128 | 431,637,309 | 7,115,109 | 297,171,430 | ||
Shares redeemed: | |||||
Class A | (666,216) | (35,858,945) | (201,914) | (7,994,507) | |
Class C | (306,594) | (13,189,712) | (44,197) | (1,483,820) | |
Class C – automatic conversion to Class A Shares | (3,659) | (160,914) | — | — | |
Class R3(2) | (6,844) | (349,050) | (6,806) | (248,992) | |
Class R3 – automatic conversion to Class A Shares | (14,180) | (723,327) | — | — | |
Class R6 | (820,228) | (44,819,786) | (1,864,926) | (77,384,574) | |
Class I | (10,323,128) | (536,706,480) | (4,915,092) | (203,684,607) | |
(12,140,849) | (631,808,214) | (7,032,935) | (290,796,500) | ||
Net increase (decrease) | (3,704,721) | $(200,170,905) | 82,174 | $ 6,374,930 |
(1) | Refer to Note 1 – General Information and Note 9 – Fund Reorganizations for further details. |
(2) | Class R3 Shares were converted to Class A Shares at the close of business on June 4, 2021 and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds. |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
Tax cost of investments | $47,678,830 | $451,881,969 |
Gross unrealized: | ||
Appreciation | $13,495,622 | $446,001,741 |
Depreciation | (1,401,072) | (4,179,787) |
Net unrealized appreciation (depreciation) of investments | $12,094,550 | $441,821,954 |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
Undistributed net ordinary income1 | $ 479,123 | $ 8,597,841 |
Undistributed net long-term capital gains | 1,124,573 | 41,880,847 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
2021 | Winslow International Small Cap | Winslow Large-Cap Growth ESG |
Distributions from net ordinary income1 | $660,902 | $ — |
Distributions from net long-term capital gains | — | 49,541,442 |
2020 | Winslow International Small Cap | Winslow Large-Cap Growth ESG |
Distributions from net ordinary income1 | $1,072,335 | $ 1,306,895 |
Distributions from net long-term capital gains | — | 59,784,190 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Average Daily Net Assets | Winslow International Small Cap | Winslow Large-Cap Growth ESG* |
For the first $125 million | 0.7000% | 0.5500% |
For the next $125 million | 0.6875 | 0.5375 |
For the next $250 million | 0.6750 | 0.5250 |
For the next $500 million | 0.6625 | 0.5125 |
For the next $1 billion | 0.6500 | 0.5000 |
For the next $3 billion | 0.6250 | 0.4750 |
For the next $2.5 billion | 0.6000 | 0.4500 |
For the next $2.5 billion | 0.5875 | 0.4375 |
For net assets over $10 billion | 0.5750 | 0.4250 |
Average Daily Net Assets | Winslow Large-Cap Growth ESG |
For the first $125 million | 0.5000% |
For the next $125 million | 0.4875 |
For the next $250 million | 0.4750 |
For the next $500 million | 0.4625 |
For the next $1 billion | 0.4500 |
For the next $3 billion | 0.4250 |
For the next $2.5 billion | 0.4000 |
For the next $2.5 billion | 0.3875 |
For net assets over $10 billion | 0.3750 |
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 |
Winslow International Small Cap | 0.1536% |
Winslow Large-Cap Growth ESG | 0.1640% |
Fund | Temporary Expense Cap | Temporary Expense Cap Expiration Date | Permanent Expense Cap |
Winslow International Small Cap | 0.99% | July 31, 2023 | 1.00% |
Winslow Large-Cap Growth ESG | 0.69%* | July 31, 2023 | 1.25% |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
Sales charges collected (Unaudited) | $221 | $153,318 |
Paid to financial intermediaries (Unaudited) | 200 | 137,792 |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
Commission advances (Unaudited) | $51 | $45,331 |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
12b-1 fees retained (Unaudited) | $293 | $23,450 |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
CDSC retained (Unaudited) | $ — | $9,109 |
Winslow International Small Cap | |
TIAA owned shares | 71% |
Nuveen Large Cap Growth Fund | |
Cost of Investments | $141,464,074 |
Fair value of Investments | 198,016,509 |
Net unrealized appreciation (depreciation) of Investments | 56,552,435 |
Target Fund - Prior to the Reorganization | Shares Outstanding | Net Assets | NAV Per Share |
Nuveen Large Cap Growth Fund | |||
Class A | 5,310,096 | $115,690,573 | $21.79 |
Class C | 1,058,692 | 21,595,807 | 20.40 |
Class R6 | 24,337 | 531,444 | 21.84 |
Class I | 2,759,698 | 60,269,839 | 21.84 |
Acquiring Fund - Prior to the Reorganization | Shares Outstanding | Net Assets | NAV Per Share |
Winslow Large-Cap Growth ESG | |||
Class A | 888,156 | $ 43,788,874 | $49.30 |
Class C | 228,652 | 9,390,530 | 41.07 |
Class R3 | 20,666 | 962,063 | 46.55 |
Class R6 | 1,478,127 | 77,799,525 | 52.63 |
Class I | 15,314,929 | 790,893,770 | 51.64 |
Acquiring Fund - After the Reorganization | Shares Outstanding | Net Assets | NAV Per Share |
Winslow Large-Cap Growth ESG | |||
Class A | 3,234,667 | $159,479,447 | $49.30 |
Class C | 754,492 | 30,986,337 | 41.07 |
Class R3 | 20,666 | 962,063 | 46.55 |
Class R6 | 1,488,224 | 78,330,969 | 52.63 |
Class I | 16,482,000 | 851,163,609 | 51.64 |
Pro Forma Results | Winslow Large-Cap Growth ESG |
Net investment income (loss) | $ (1,854,411) |
Net realized and change in unrealized gains (losses) | 288,904,980 |
Change in net assets resuliting from operations | 287,050,569 |
Winslow Large-Cap Growth ESG | |
Long-term capital gain dividends | $66,653,580 |
Winslow International Small Cap | Winslow Large-Cap Growth ESG | |
% of DRD | 0.0% | 100.0% |
% of QDI | 100.0% | 100.0% |
• | Centralization of Functions – ongoing initiatives to centralize investment leadership, market approach and shared support functions within Nuveen and its affiliates in seeking to operate more effectively the business and enhance the services to the Nuveen funds; |
• | Fund Improvements and Product Management Initiatives – continuing to proactively manage the Nuveen fund complex as a whole and at the individual fund level with an aim to continually improve product platforms and investment strategies to better serve shareholders through, among other things, rationalizing the product line and gaining efficiencies through mergers, repositionings and liquidations; launching new funds; reviewing and updating investment policies and benchmarks; and modifying portfolio management teams for various funds; |
• | Investment Team Integrations – continuing to integrate and adjust the members of certain investment teams, in part, to allow greater access to tools and resources within the Nuveen organization and its affiliates; |
• | Capital Initiatives – continuing to invest capital to support new Nuveen funds with initial capital as well as to support existing funds and facilitate regulatory or logistical changes; |
• | Liquidity Management – continuing to operate the liquidity management program of the applicable Nuveen funds including monitoring daily their liquidity profile and assessing annually the overall liquidity risk of such funds; |
• | Compliance Program Initiatives – continuing efforts to mitigate compliance risk, increase operating efficiencies, implement enhancements to strengthen key compliance program elements and support international business growth and other corporate objectives; |
• | Investment Oversight – preparing reports to the Board addressing, among other things, fund performance; market conditions; investment teams; new products; changes to mandates, policies and benchmarks; and other management proposals; |
• | Risk Management and Valuation Services - continuing to oversee and manage risk including, among other things, conducting daily calculations and monitoring of risk measures across the Nuveen funds, instituting appropriate investment risk controls, providing risk reporting throughout the firm, participating in internal oversight committees, and continuing to implement an operational risk framework that seeks to provide greater transparency of operational risk matters across the complex as well as provide multiple other risk programs that seek to provide a more disciplined and consistent approach to identifying and mitigating Nuveen’s operational risks. Further, the securities valuation team continues, among other things, to oversee the daily valuation process of the portfolio securities of the funds, maintains the valuation policies and procedures, facilitates valuation committee meetings, manages relationships with pricing vendors, and prepares relevant valuation reports and designs methods to simplify and enhance valuation workflow within the organization; |
• | Regulatory Matters – continuing efforts to monitor regulatory trends and advocate on behalf of Nuveen and/or the Nuveen funds, to implement and comply with new or revised rules and mandates and to respond to regulatory inquiries and exams; |
• | Government Relations – continuing efforts of various Nuveen teams and Nuveen’s affiliates to develop policy positions on a broad range of issues that may impact the Nuveen funds, advocate and communicate these positions to lawmakers and other regulatory authorities and work with trade associations to ensure these positions are represented; |
• | Business Continuity, Disaster Recovery and Information Security – continuing efforts of Nuveen to periodically test and update business continuity and disaster recovery plans and, together with its affiliates, to maintain an information security program designed to identify and manage information security risks, and provide reports to the Board, at least annually, addressing, among other things, management’s security risk assessment, cyber risk profile, potential impact of new or revised laws and regulations, incident tracking and other relevant information technology risk-related reports; and |
• | Dividend Management Services – continuing to manage the dividends among the varying types of Nuveen funds within the Nuveen complex to be consistent with the respective fund’s product design and positioning in striving to deliver those earnings to shareholders in a relatively consistent manner over time as well as assisting in the development of new products or the restructuring of existing funds. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Independent Trustees: | ||||
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606 | Chair and Trustee | 2008 | Formerly, a Co-Founding Partner, Promus Capital (investment advisory firm) (2008-2017); Director, Quality Control Corporation (manufacturing) (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (philanthropy) (since 2012), and chair of its investment committee; formerly, Director, Fulcrum IT Services LLC (information technology services firm to government entities) (2010-2019); formerly, Director, LogicMark LLC (health services) (2012-2016); formerly, Director, Legal & General Investment Management America, Inc. (asset management) (2008-2013); formerly, CEO and President, Northern Trust Global Investments (financial services) (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (financial services) (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003- 2007) and Northern Trust Hong Kong Board (1997-2004). | 146 |
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1999 | Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine Foundation, (private philanthropic corporation); Life Trustee of Coe College and the Iowa College Foundation; formerly, Member and President Pro-Tem of the Board of Regents for the State of Iowa University System (2007- 2013); Director and Chairman (2009-2021), United Fire Group, a publicly held company; Director, Public Member, American Board of Orthopaedic Surgery (2015-2020); Director (2000-2004), Alliant Energy; Director (1996-2015), The Gazette Company (media and publishing); Director (1997- 2003), Federal Reserve Bank of Chicago; President and Chief Operating Officer (1972-1995), SCI Financial Group, Inc., (regional financial services firm). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2003 | Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010- 2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University. | 146 |
Amy B. R. Lancellotta 1959 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Independent Directors Council (IDC) (supports the fund independent director community and is part of the Investment Company Institute (ICI), which represents regulated investment companies) (2006-2019); formerly, various positions with ICI (1989-2006); Member of the Board of Directors, Jewish Coalition Against Domestic Abuse (JCADA) (since 2020). | 146 |
Joanne T. Medero 1954 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Government Relations and Public Policy (2009-2020) and Senior Advisor to the Vice Chairman (2018-2020), BlackRock, Inc. (global investment management firm); formerly, Managing Director, Global Head of Government Relations and Public Policy, Barclays Group (IBIM) (investment banking, investment management and wealth management businesses)(2006-2009); formerly, Managing Director, Global General Counsel and Corporate Secretary, Barclays Global Investors (global investment management firm) (1996-2006); formerly, Partner, Orrick, Herrington & Sutcliffe LLP (law firm) (1993-1995); formerly, General Counsel, Commodity Futures Trading Commission (government agency overseeing U.S. derivatives markets) (1989-1993); formerly, Deputy Associate Director/Associate Director for Legal and Financial Affairs, Office of Presidential Personnel, The White House (1986-1989); Member of the Board of Directors, Baltic-American Freedom Foundation (seeks to provide opportunities for citizens of the Baltic states to gain education and professional development through exchanges in the U.S.) (since 2019). | 146 |
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc. (consumer wireless services), including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996) including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2013 | Member of Board of Directors of Core12 LLC. (private firm which develops branding, marketing and communications strategies for clients) (since 2008); served The President's Council of Fordham University (2010-2019) and previously a Director of the Curran Center for Catholic American Studies (2009-2018); formerly, senior external advisor to the Financial Services practice of Deloitte Consulting LLP. (2012-2014); former Chair of the Board of Trustees of Marian University (2010-2014 as trustee, 2011-2014 as Chair); formerly Chief Executive Officer of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division (2007-2008), with various executive leadership roles in ABN AMRO Bank N.V. between 1996 and 2007. | 146 |
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1997 | Board Member, Land Trust Alliance (national public charity addressing natural land and water conservation in the U.S.) (since 2013); formerly, Board Member, U.S. Endowment for Forestry and Communities (national endowment addressing forest health, sustainable forest production and markets, and economic health of forest-reliant communities in the U.S.) (2013-2019); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation (private foundation endowed to support both natural land conservation and artistic vitality); prior thereto, Executive Director, Great Lakes Protection Fund (endowment created jointly by seven of the eight Great Lakes states' Governors to take a regional approach to improving the health of the Great Lakes) (1990-1994). | 146 |
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2007 | Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); formerly, Director, Cboe Global Markets, Inc., (2010-2020) (formerly named CBOE Holdings, Inc.); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010). | 146 |
Matthew Thornton III 1958 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2020 | Formerly, Executive Vice President and Chief Operating Officer (2018-2019), FedEx Freight Corporation, a subsidiary of FedEx Corporation ("FedEx") (provider of transportation, e-commerce and business services through its portfolio of companies); formerly, Senior Vice President, U.S. Operations (2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly Member of the Board of Directors (2012-2018), Safe Kids Worldwide® (a non-profit organization dedicated to preventing childhood injuries). Member of the Board of Directors (since 2014), The Sherwin-Williams Company (develops, manufactures, distributes and sells paints, coatings and related products); Director (since 2020), Crown Castle International (provider of communications infrastructure). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (legal services, Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College. | 146 |
Robert L. Young 1963 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2017 | Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (financial services) (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (financial services) (formerly, One Group Dealer Services, Inc.) (1999-2017). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Officers of the Funds: | ||||
Christopher E. Stickrod 1976 333 W. Wacker Drive Chicago, IL 60606 | Chief Administrative Officer | 2020 | Senior Managing Director (since 2017) and Head of Advisory Product (since 2020), formerly, Managing Director (2016-2017) and Senior Vice President (2013-2016) of Nuveen; Senior Managing Director of Nuveen Securities, LLC (since 2018) and of Nuveen Fund Advisors, LLC (since 2019). | |
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402 | Vice President and Secretary | 2013 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2018). | |
Diana R. Gonzalez 1978 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2017 | Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management, LLC (2012-2017). | |
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Treasurer | 2016 | Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Managing Director (since 2015) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst. | |
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2002 | Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC. | |
Brian J. Lockhart 1974 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2019 | Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Vice President (2010-2017) of Nuveen; Head of Investment Oversight (since 2017), formerly, Team Leader of Manager Oversight (2015-2017); Chartered Financial Analyst and Certified Financial Risk Manager. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Jacques M. Longerstaey 1963 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President | 2019 | Senior Managing Director, Chief Risk Officer, Nuveen (since May 2019); Senior Managing Director (since May 2019) of Nuveen Fund Advisors, LLC; formerly, Chief Investment and Model Risk Officer, Wealth & Investment Management Division, Wells Fargo Bank (NA) (2013-2019). | |
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2007 | Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Fund Advisors, LLC, formerly, Co-General Counsel (2011-2020), Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) of Nuveen Asset Management, LLC, formerly, Associate General Counsel (2011-2020), Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC. | |
Jon Scott Meissner 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Assistant Secretary | 2019 | Managing Director of Mutual Fund Tax and Financial Reporting groups at Nuveen (since 2017); Managing Director of Nuveen Fund Advisors, LLC (since 2019); Senior Director of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC (since 2016); Senior Director (since 2015) Mutual Fund Taxation to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the CREF Accounts; has held various positions with TIAA since 2004. | |
Deann D. Morgan 1969 730 Third Avenue New York, NY 10017 | Vice President | 2020 | President, Nuveen Fund Advisors, LLC (since 2020); Executive Vice President, Global Head of Product at Nuveen (since 2019); Co-Chief Executive Officer of Nuveen Securities, LLC (since 2020); Managing Member of MDR Collaboratory LLC (since 2018); Managing Director, Head of Wealth Management Product Structuring & COO Multi Asset Investing. The Blackstone Group (2013-2017). | |
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Managing Director and Assistant Secretary (since 2017) of Nuveen Securities, LLC; Managing Director (since 2017), General Counsel (since 2020), and Assistant Secretary (since 2016), formerly, Senior Vice President (2016-2017), of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Managing Director (since 2017) and Associate General Counsel (since 2016), formerly, Senior Vice President (2012-2017) and Assistant General Counsel (2008-2016) of Nuveen. | |
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2017 | Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen. | |
E. Scott Wickerham 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Controller | 2019 | Senior Managing Director, Head of Public Investment Finance at Nuveen (since 2019), formerly, Managing Director; Senior Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) of the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and Principal Financial Officer, Principal Accounting Officer (since 2020) and Treasurer (since 2017) of the CREF Accounts; formerly, Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various positions with TIAA since 2006. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Mark L. Winget 1968 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2008), and Nuveen Fund Advisors, LLC (since 2019); Vice President, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Vice President (since 2010) and Associate General Counsel (since 2019), formerly, Assistant General Counsel (2008-2016) of Nuveen. | |
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Chief Compliance Officer | 1988 | Formerly: Managing Director (2002-2020) and Assistant Secretary (2002-2020) of Nuveen Securities, LLC; formerly, Managing Director (2002-2020), Assistant Secretary (1997-2020) and Co-General Counsel (2011-2020) of Nuveen Fund Advisors, LLC; formerly, Managing Director (2004-2020) and Assistant Secretary (1994-2020) of Nuveen Investments, Inc.; formerly, Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (2011-2020); formerly, Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (2002-2020), Santa Barbara Asset Management, LLC (2006-2020) and Winslow Capital Management, LLC (2010-2020); Chartered Financial Analyst. |
Serving Investors for Generations
Fund Name | ||||||
Nuveen Winslow International Large Cap Fund |
Total Returns as of July 31, 2021* | ||||||
Average Annual | Expense Ratios** | |||||
Inception Date | 1-Year | Since Inception | Gross | Net | ||
Class A Shares at NAV | 12/12/18 | 30.13% | 14.46% | 2.95% | 1.15% | |
Class A Shares at maximum Offering Price | 12/12/18 | 22.65% | 11.92% | - | - | |
MSCI World ex USA Index (Net) | - | 31.00% | 13.98% | - | - | |
Class C Shares | 12/12/18 | 29.13% | 13.60% | 3.70% | 1.90% | |
Class R6 Shares | 12/12/18 | 30.47% | 14.74% | 2.70% | 0.90% | |
Class I Shares | 12/12/18 | 30.47% | 14.74% | 2.70% | 0.90% |
Fund Allocation (% of net assets) | |
Common Stocks | 100.0% |
Other Assets Less Liabilities | (0.0)% |
Net Assets | 100% |
Top Five Common Stock Holdings (% of net assets) | |
Toyota Motor Corp | 2.7% |
BHP Group Ltd | 2.3% |
Deutsche Post AG | 2.2% |
ASML Holding NV | 2.2% |
Straumann Holding AG | 2.0% |
Portfolio Composition (% of net assets) | |
Banks | 10.1% |
Health Care Equipment & Supplies | 7.9% |
Insurance | 7.0% |
IT Services | 4.7% |
Semiconductors & Semiconductor Equipment | 4.6% |
Pharmaceuticals | 4.2% |
Equity Real Estate Investment Trust | 4.0% |
Beverages | 3.7% |
Software | 3.0% |
Food & Staples Retailing | 3.0% |
Oil, Gas & Consumable Fuels | 3.0% |
Construction & Engineering | 2.8% |
Building Products | 2.8% |
Chemicals | 2.7% |
Automobiles | 2.7% |
Capital Markets | 2.4% |
Metals & Mining | 2.3% |
Air Freight & Logistics | 2.2% |
Commercial Services & Supplies | 2.2% |
Multi-Utilities | 2.1% |
Diversified Telecommunication Services | 1.8% |
Aerospace & Defense | 1.8% |
Other 1 | 19.0% |
Other Assets Less Liabilities | (0.0)% |
Net Assets | 100% |
Country Allocation2 (% of net assets) | |
Japan | 16.9% |
United Kingdom | 12.2% |
Switzerland | 10.3% |
Canada | 8.9% |
Netherlands | 8.4% |
Germany | 8.3% |
Australia | 8.2% |
France | 6.2% |
Denmark | 3.6% |
Spain | 3.0% |
Other | 14.0% |
Other Assets Less Liabilities | (0.0)% |
Net Assets | 100% |
1 | See Portfolio of Investments for details on "other" Portfolio Composition. | |
2 | Includes 2.6% (as a percentage of net assets) in emerging market countries. |
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 | $1,156.99 | $1,152.37 | $1,158.11 | $1,158.11 |
Expenses Incurred During the Period | $ 6.10 | $ 10.14 | $ 4.76 | $ 4.82 |
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 | $1,019.14 | $1,015.37 | $1,020.38 | $1,020.33 |
Expenses Incurred During the Period | $ 5.71 | $ 9.49 | $ 4.46 | $ 4.51 |
Shares | Description (1) | Value | ||||
LONG-TERM INVESTMENTS – 100.0% | ||||||
COMMON STOCKS – 100.0% | ||||||
Aerospace & Defense – 1.8% | ||||||
15,192 | BAE Systems PLC, (2) | $ 121,802 | ||||
Air Freight & Logistics – 2.2% | ||||||
2,304 | Deutsche Post AG, (2) | 156,145 | ||||
Airlines – 1.3% | ||||||
4,475 | Japan Airlines Co Ltd, (2), (3) | 93,292 | ||||
Auto Components – 1.7% | ||||||
728 | Cie Generale des Etablissements Michelin SCA, (2) | 118,913 | ||||
Automobiles – 2.7% | ||||||
2,080 | Toyota Motor Corp, (2) | 186,733 | ||||
Banks – 10.1% | ||||||
11,745 | Bank Leumi Le-Israel BM, (2) | 89,746 | ||||
25,000 | Barclays PLC, (2) | 60,477 | ||||
22,900 | BOC Hong Kong Holdings Ltd, (2) | 73,538 | ||||
5,230 | DBS Group Holdings Ltd, (2) | 117,028 | ||||
2,413 | Erste Group Bank AG, (2) | 93,505 | ||||
6,500 | ING Groep NV, (2) | 83,399 | ||||
1,050 | KBC Group NV, (2) | 84,549 | ||||
1,010 | Royal Bank of Canada | 102,150 | ||||
Total Banks | 704,392 | |||||
Beverages – 3.7% | ||||||
2,717 | Coca-Cola HBC AG, (2) | 102,602 | ||||
3,845 | Kirin Holdings Co Ltd, (2) | 70,328 | ||||
9,270 | Treasury Wine Estates Ltd, (2) | 81,314 | ||||
Total Beverages | 254,244 | |||||
Building Products – 2.8% | ||||||
2,775 | AGC Inc/Japan, (2) | 118,668 | ||||
683 | Kingspan Group PLC, (2) | 74,272 | ||||
Total Building Products | 192,940 | |||||
Capital Markets – 2.4% | ||||||
5,798 | 3i Group PLC, (2) | 103,049 | ||||
579 | Macquarie Group Ltd, (2) | 66,856 | ||||
Total Capital Markets | 169,905 |
Shares | Description (1) | Value | ||||
Chemicals – 2.7% | ||||||
345 | Sika AG, (2) | $121,533 | ||||
3,750 | Tosoh Corp, (2) | 65,809 | ||||
Total Chemicals | 187,342 | |||||
Commercial Services & Supplies – 2.2% | ||||||
7,983 | Brambles Ltd, (2) | 68,348 | ||||
1,120 | Secom Co Ltd, (2) | 84,773 | ||||
Total Commercial Services & Supplies | 153,121 | |||||
Construction & Engineering – 2.8% | ||||||
3,175 | ACS Actividades de Construccion y Servicios SA, (2) | 83,513 | ||||
1,105 | Eiffage SA, (2) | 112,649 | ||||
Total Construction & Engineering | 196,162 | |||||
Construction Materials – 1.2% | ||||||
1,392 | Holcim Ltd, (2) | 81,601 | ||||
Diversified Telecommunication Services – 1.8% | ||||||
1,911 | Cellnex Telecom SA,144A, (2) | 124,629 | ||||
Electric Utilities – 0.9% | ||||||
4,900 | Electricite de France SA, (2) | 59,484 | ||||
Equity Real Estate Investment Trust – 4.0% | ||||||
1,838 | Canadian Apartment Properties REIT | 91,856 | ||||
5,035 | Goodman Group, (2) | 83,743 | ||||
6,414 | UNITE Group PLC | 103,196 | ||||
Total Equity Real Estate Investment Trust | 278,795 | |||||
Food & Staples Retailing – 3.0% | ||||||
2,988 | Alimentation Couche-Tard Inc. | 120,445 | ||||
234 | Zur Rose Group AG, (3) | 87,054 | ||||
Total Food & Staples Retailing | 207,499 | |||||
Food Products – 1.1% | ||||||
593 | Nestle SA, (2) | 75,091 | ||||
Gas Utilities – 1.2% | ||||||
13,245 | Snam SpA, (2) | 80,117 | ||||
Health Care Equipment & Supplies – 7.9% | ||||||
468 | Coloplast A/S, (2) | 85,580 | ||||
982 | GN Store Nord AS, (2) | 86,056 | ||||
907 | Hoya Corp, (2) | 128,041 | ||||
1,100 | Koninklijke Philips NV, (2) | 50,720 | ||||
3,048 | Smith & Nephew PLC, (2) | 62,200 | ||||
75 | Straumann Holding AG, (2) | 139,051 | ||||
Total Health Care Equipment & Supplies | 551,648 |
Shares | Description (1) | Value | ||||
Hotels, Restaurants & Leisure – 1.6% | ||||||
3,573 | Aristocrat Leisure Ltd, (2) | $ 109,495 | ||||
Household Durables – 1.0% | ||||||
693 | Sony Group Corp, (2) | 72,395 | ||||
Insurance – 7.0% | ||||||
304 | Allianz SE, (2) | 75,563 | ||||
2,479 | AXA SA, (2) | 64,199 | ||||
322 | Hannover Rueck SE, (2) | 54,123 | ||||
7,899 | Poste Italiane SpA,144A, (2) | 104,523 | ||||
3,000 | Prudential PLC, (2) | 56,336 | ||||
136 | Swiss Life Holding AG, (2) | 70,149 | ||||
146 | Zurich Insurance Group AG, (2) | 58,864 | ||||
Total Insurance | 483,757 | |||||
IT Services – 4.7% | ||||||
43 | Adyen NV,144A, (2), (3) | 116,532 | ||||
986 | CGI Inc, (3) | 89,693 | ||||
4,605 | TIS Inc, (2) | 119,437 | ||||
Total IT Services | 325,662 | |||||
Leisure Products – 0.9% | ||||||
975 | Bandai Namco Holdings Inc, (2) | 63,086 | ||||
Life Sciences Tools & Services – 1.2% | ||||||
107 | Lonza Group AG, (2) | 83,313 | ||||
Machinery – 1.7% | ||||||
1,080 | KION Group AG, (2) | 114,689 | ||||
Metals & Mining – 2.3% | ||||||
4,033 | BHP Group Ltd, (2) | 158,411 | ||||
Multiline Retail – 1.2% | ||||||
4,060 | Pan Pacific International Holdings Corp, (2) | 84,749 | ||||
Multi-Utilities – 2.1% | ||||||
5,507 | Engie SA, (2) | 73,438 | ||||
2,113 | RWE AG, (2) | 75,129 | ||||
Total Multi-Utilities | 148,567 | |||||
Oil, Gas & Consumable Fuels – 3.0% | ||||||
13,231 | BP PLC, (2) | 53,110 | ||||
1,178 | Neste Oyj, (2) | 72,413 | ||||
2,560 | Parkland Corp/Canada | 81,482 | ||||
Total Oil, Gas & Consumable Fuels | 207,005 |
Shares | Description (1) | Value | ||||
Personal Products – 1.2% | ||||||
1,398 | Unilever PLC, (2) | $ 80,457 | ||||
Pharmaceuticals – 4.2% | ||||||
806 | AstraZeneca PLC, (2) | 92,618 | ||||
1,675 | Dechra Pharmaceuticals PLC | 115,714 | ||||
879 | Novo Nordisk A/S, (2) | 81,370 | ||||
Total Pharmaceuticals | 289,702 | |||||
Professional Services – 1.4% | ||||||
851 | Wolters Kluwer NV, (2) | 97,017 | ||||
Semiconductors & Semiconductor Equipment – 4.6% | ||||||
234 | ASM International NV, (2) | 83,049 | ||||
197 | ASML Holding NV, (2) | 150,584 | ||||
212 | Tokyo Electron Ltd, (2) | 87,434 | ||||
Total Semiconductors & Semiconductor Equipment | 321,067 | |||||
Software – 3.0% | ||||||
82 | Constellation Software Inc/Canada | 131,349 | ||||
281 | Nice Ltd, (2), (3) | 78,198 | ||||
Total Software | 209,547 | |||||
Textiles, Apparel & Luxury Goods – 1.4% | ||||||
276 | adidas AG, (2) | 100,175 | ||||
Total Long-Term Investments (cost $5,111,277) | 6,942,949 | |||||
Other Assets Less Liabilities – (0.0)% | (2,317) | |||||
Net Assets – 100% | $ 6,940,632 |
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) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(3) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
REIT | Real Estate Investment Trust |
Assets | |
Long-term investments, at value (cost $5,111,277) | $6,942,949 |
Cash | 64,788 |
Cash denominated in foreign currencies (cost $7) | 7 |
Receivable for: | |
Dividends | 6,451 |
Reclaims | 14,330 |
Reimbursement from Adviser | 3,961 |
Other assets | 731 |
Total assets | 7,033,217 |
Liabilities | |
Accrued expenses: | |
Custodian fees | 58,754 |
Professional fees | 30,886 |
Trustees fees | 54 |
12b-1 distribution and service fees | 36 |
Other | 2,855 |
Total liabilities | 92,585 |
Net assets | $6,940,632 |
Class A Shares | |
Net assets | $ 34,634 |
Shares outstanding | 1,250 |
Net asset value ("NAV") per share | $ 27.71 |
Offering price per share (NAV per share plus maximum sales charge of 5.75% of offering price) | $ 29.40 |
Class C Shares | |
Net assets | $ 34,415 |
Shares outstanding | 1,250 |
NAV and offering price per share | $ 27.53 |
Class R6 Shares | |
Net assets | $6,836,878 |
Shares outstanding | 246,250 |
NAV and offering price per share | $ 27.76 |
Class I Shares | |
Net assets | $ 34,705 |
Shares outstanding | 1,250 |
NAV and offering price per share | $ 27.76 |
Fund level net assets consist of: | |
Capital paid-in | $4,999,836 |
Total distributable earnings | 1,940,796 |
Fund level net assets | $6,940,632 |
Authorized shares - per class | Unlimited |
Par value per share | $ 0.01 |
Investment Income | |
Dividends | $ 158,680 |
Securities lending income, net | 12 |
Foreign tax withheld on dividend income | (14,102) |
Total investment income | 144,590 |
Expenses | |
Management fees | 46,720 |
12b-1 service fees - Class A Shares | 77 |
12b-1 distribution and service fees - Class C Shares | 307 |
Shareholder servicing agent fees | 241 |
Custodian fees | 43,092 |
Professional fees | 58,377 |
Trustees fees | 158 |
Shareholder reporting expenses | 11,657 |
Other | 3,385 |
Total expenses before fee waiver/expense reimbursement | 164,014 |
Fee waiver/expense reimbursement | (108,271) |
Net expenses | 55,743 |
Net investment income (loss) | 88,847 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) from investments and foreign currency | 309,304 |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | 1,227,758 |
Net realized and unrealized gain (loss) | 1,537,062 |
Net increase (decrease) in net assets from operations | $1,625,909 |
Year Ended 7/31/21 | Year Ended 7/31/20 | |
Operations | ||
Net investment income (loss) | $ 88,847 | $ 83,399 |
Net realized gain (loss) from investments and foreign currency | 309,304 | (231,376) |
Change in net unrealized appreciation (depreciation) of investments and foreign currency | 1,227,758 | 44,667 |
Net increase (decrease) in net assets from operations | 1,625,909 | (103,310) |
Distributions to Shareholders | ||
Dividends: | ||
Class A Shares | (198) | (693) |
Class C Shares | — | (483) |
Class R6 Shares | (52,353) | (150,360) |
Class I Shares | (266) | (763) |
Decrease in net assets from distributions to shareholders | (52,817) | (152,299) |
Net increase (decrease) in net assets | 1,573,092 | (255,609) |
Net assets at the beginning of period | 5,367,540 | 5,623,149 |
Net assets at the end of period | $6,940,632 | $5,367,540 |
Selected data for a share outstanding throughout each period:
Investment Operations | Less Distributions | ||||||||
Class (Commencement Date) Year Ended July 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 (12/18) | |||||||||
2021 | $21.43 | $0.30 | $ 6.14 | $ 6.44 | $(0.16) | $ — | $(0.16) | $27.71 | |
2020 | 22.46 | 0.28 | (0.76) | (0.48) | (0.55) | — | (0.55) | 21.43 | |
2019(e) | 20.00 | 0.35 | 2.11 | 2.46 | — | — | — | 22.46 | |
Class C (12/18) | |||||||||
2021 | 21.32 | 0.11 | 6.10 | 6.21 | — | — | — | 27.53 | |
2020 | 22.35 | 0.12 | (0.76) | (0.64) | (0.39) | — | (0.39) | 21.32 | |
2019(e) | 20.00 | 0.24 | 2.11 | 2.35 | — | — | — | 22.35 | |
Class R6 (12/18) | |||||||||
2021 | 21.47 | 0.36 | 6.14 | 6.50 | (0.21) | — | (0.21) | 27.76 | |
2020 | 22.49 | 0.33 | (0.74) | (0.41) | (0.61) | — | (0.61) | 21.47 | |
2019(e) | 20.00 | 0.38 | 2.11 | 2.49 | — | — | — | 22.49 | |
Class I (12/18) | |||||||||
2021 | 21.47 | 0.36 | 6.14 | 6.50 | (0.21) | — | (0.21) | 27.76 | |
2020 | 22.49 | 0.33 | (0.74) | (0.41) | (0.61) | — | (0.61) | 21.47 | |
2019(e) | 20.00 | 0.38 | 2.11 | 2.49 | — | — | — | 22.49 |
Ratios/Supplemental Data | |||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | ||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(d) | |
30.13% | $ 35 | 2.89% | (0.55) % | 1.14% | 1.20% | 32 | |
(2.31) | 27 | 2.95 | (0.50) | 1.15 | 1.30 | 38 | |
12.30 | 28 | 2.68* | 1.00* | 1.15* | 2.53* | 18 | |
29.13 | 34 | 3.65 | (1.31) | 1.90 | 0.44 | 32 | |
(3.02) | 27 | 3.70 | (1.25) | 1.90 | 0.55 | 38 | |
11.75 | 28 | 3.43* | 0.24* | 1.90* | 1.77* | 18 | |
30.47 | 6,837 | 2.65 | (0.31) | 0.90 | 1.44 | 32 | |
(2.08) | 5,287 | 2.70 | (0.25) | 0.90 | 1.55 | 38 | |
12.45 | 5,539 | 2.43* | 1.25* | 0.90* | 2.77* | 18 | |
30.47 | 35 | 2.65 | (0.31) | 0.90 | 1.44 | 32 | |
(2.08) | 27 | 2.70 | (0.25) | 0.90 | 1.55 | 38 | |
12.45 | 28 | 2.42* | 1.25* | 0.90* | 2.77* | 18 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | 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. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates for more information. |
(d) | 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) divided by the average long-term market value during the period. |
(e) | For the period December 12, 2018 (commencement of operations) through July 31, 2019. |
* | Annualized. |
Value | % of Net Assets | |
Country: | ||
Japan | $1,174,745 | 16.9% |
United Kingdom | 848,959 | 12.2 |
Switzerland | 716,656 | 10.3 |
Canada | 616,975 | 8.9 |
Netherlands | 581,301 | 8.4 |
Germany | 575,824 | 8.3 |
Australia | 568,167 | 8.2 |
France | 428,683 | 6.2 |
Denmark | 253,006 | 3.6 |
Spain | 208,142 | 3.0 |
Other | 970,491 | 14.0 |
Total non-U.S. securities | $6,942,949 | 100.0% |
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments*: | ||||
Common Stocks | $922,939 | $6,020,010** | $ — | $6,942,949 |
* | Refer to the Fund's Portfolio of Investments for industry classifications. |
** | Refer to the Fund's Portfolio of Investments for securities classified as Level 2. |
Tax cost of investments | $5,157,460 |
Gross unrealized: | |
Appreciation | $1,996,107 |
Depreciation | (210,618) |
Net unrealized appreciation (depreciation) of investments | $1,785,489 |
Undistributed net ordinary income1 | $104,051 |
Undistributed net long-term capital gains | 50,550 |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
2021 | |
Distributions from net ordinary income1 | $52,817 |
Distributions from net long-term capital gains | — |
2020 | |
Distributions from net ordinary income1 | $152,299 |
Distributions from net long-term capital gains | — |
1 | Net ordinary income consists of net taxable income derived from dividends, interest, and net short-term capital gains, if any. |
Average Daily Net Assets | Fund-Level Fee |
For the first $125 million | 0.6000% |
For the next $125 million | 0.5875 |
For the next $250 million | 0.5750 |
For the next $500 million | 0.5625 |
For the next $1 billion | 0.5500 |
For the next $3 billion | 0.5250 |
For the next $2.5 billion | 0.5000 |
For the next $2.5 billion | 0.4875 |
For net assets over $10 billion | 0.4750 |
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 |
12b-1 fees retained (Unaudited) | $300 |
TIAA owned shares | 100% |
% of DRD | 0.0% | |
% of QDI | 100.0% |
• | Centralization of Functions – ongoing initiatives to centralize investment leadership, market approach and shared support functions within Nuveen and its affiliates in seeking to operate more effectively the business and enhance the services to the Nuveen funds; |
• | Fund Improvements and Product Management Initiatives – continuing to proactively manage the Nuveen fund complex as a whole and at the individual fund level with an aim to continually improve product platforms and investment strategies to better serve shareholders through, among other things, rationalizing the product line and gaining efficiencies through mergers, repositionings and liquidations; launching new funds; reviewing and updating investment policies and benchmarks; and modifying portfolio management teams for various funds; |
• | Investment Team Integrations – continuing to integrate and adjust the members of certain investment teams, in part, to allow greater access to tools and resources within the Nuveen organization and its affiliates; |
• | Capital Initiatives – continuing to invest capital to support new Nuveen funds with initial capital as well as to support existing funds and facilitate regulatory or logistical changes; |
• | Liquidity Management – continuing to operate the liquidity management program of the applicable Nuveen funds including monitoring daily their liquidity profile and assessing annually the overall liquidity risk of such funds; |
• | Compliance Program Initiatives – continuing efforts to mitigate compliance risk, increase operating efficiencies, implement enhancements to strengthen key compliance program elements and support international business growth and other corporate objectives; |
• | Investment Oversight – preparing reports to the Board addressing, among other things, fund performance; market conditions; investment teams; new products; changes to mandates, policies and benchmarks; and other management proposals; |
• | Risk Management and Valuation Services - continuing to oversee and manage risk including, among other things, conducting daily calculations and monitoring of risk measures across the Nuveen funds, instituting appropriate investment risk controls, providing risk reporting throughout the firm, participating in internal oversight committees, and continuing to implement an operational risk framework that seeks to provide greater transparency of operational risk matters across the complex as well as provide multiple other risk programs that seek to provide a more disciplined and consistent approach to identifying and mitigating Nuveen’s operational risks. Further, the securities valuation team continues, among other things, to oversee the daily valuation process of the portfolio securities of the funds, maintains the valuation policies and procedures, facilitates valuation committee meetings, manages relationships with pricing vendors, and prepares relevant valuation reports and designs methods to simplify and enhance valuation workflow within the organization; |
• | Regulatory Matters – continuing efforts to monitor regulatory trends and advocate on behalf of Nuveen and/or the Nuveen funds, to implement and comply with new or revised rules and mandates and to respond to regulatory inquiries and exams; |
• | Government Relations – continuing efforts of various Nuveen teams and Nuveen’s affiliates to develop policy positions on a broad range of issues that may impact the Nuveen funds, advocate and communicate these positions to lawmakers and other regulatory authorities and work with trade associations to ensure these positions are represented; |
• | Business Continuity, Disaster Recovery and Information Security – continuing efforts of Nuveen to periodically test and update business continuity and disaster recovery plans and, together with its affiliates, to maintain an information security program designed to identify and manage information security risks, and provide reports to the Board, at least annually, addressing, among other things, management’s security risk assessment, cyber risk profile, potential impact of new or revised laws and regulations, incident tracking and other relevant information technology risk-related reports; and |
• | Dividend Management Services – continuing to manage the dividends among the varying types of Nuveen funds within the Nuveen complex to be consistent with the respective fund’s product design and positioning in striving to deliver those earnings to shareholders in a relatively consistent manner over time as well as assisting in the development of new products or the restructuring of existing funds. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Independent Trustees: | ||||
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606 | Chair and Trustee | 2008 | Formerly, a Co-Founding Partner, Promus Capital (investment advisory firm) (2008-2017); Director, Quality Control Corporation (manufacturing) (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (philanthropy) (since 2012), and chair of its investment committee; formerly, Director, Fulcrum IT Services LLC (information technology services firm to government entities) (2010-2019); formerly, Director, LogicMark LLC (health services) (2012-2016); formerly, Director, Legal & General Investment Management America, Inc. (asset management) (2008-2013); formerly, CEO and President, Northern Trust Global Investments (financial services) (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (financial services) (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003- 2007) and Northern Trust Hong Kong Board (1997-2004). | 146 |
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1999 | Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine Foundation, (private philanthropic corporation); Life Trustee of Coe College and the Iowa College Foundation; formerly, Member and President Pro-Tem of the Board of Regents for the State of Iowa University System (2007- 2013); Director and Chairman (2009-2021), United Fire Group, a publicly held company; Director, Public Member, American Board of Orthopaedic Surgery (2015-2020); Director (2000-2004), Alliant Energy; Director (1996-2015), The Gazette Company (media and publishing); Director (1997- 2003), Federal Reserve Bank of Chicago; President and Chief Operating Officer (1972-1995), SCI Financial Group, Inc., (regional financial services firm). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2003 | Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010- 2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University. | 146 |
Amy B. R. Lancellotta 1959 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Independent Directors Council (IDC) (supports the fund independent director community and is part of the Investment Company Institute (ICI), which represents regulated investment companies) (2006-2019); formerly, various positions with ICI (1989-2006); Member of the Board of Directors, Jewish Coalition Against Domestic Abuse (JCADA) (since 2020). | 146 |
Joanne T. Medero 1954 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2021 | Formerly, Managing Director, Government Relations and Public Policy (2009-2020) and Senior Advisor to the Vice Chairman (2018-2020), BlackRock, Inc. (global investment management firm); formerly, Managing Director, Global Head of Government Relations and Public Policy, Barclays Group (IBIM) (investment banking, investment management and wealth management businesses)(2006-2009); formerly, Managing Director, Global General Counsel and Corporate Secretary, Barclays Global Investors (global investment management firm) (1996-2006); formerly, Partner, Orrick, Herrington & Sutcliffe LLP (law firm) (1993-1995); formerly, General Counsel, Commodity Futures Trading Commission (government agency overseeing U.S. derivatives markets) (1989-1993); formerly, Deputy Associate Director/Associate Director for Legal and Financial Affairs, Office of Presidential Personnel, The White House (1986-1989); Member of the Board of Directors, Baltic-American Freedom Foundation (seeks to provide opportunities for citizens of the Baltic states to gain education and professional development through exchanges in the U.S.) (since 2019). | 146 |
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc. (consumer wireless services), including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996) including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2013 | Member of Board of Directors of Core12 LLC. (private firm which develops branding, marketing and communications strategies for clients) (since 2008); served The President's Council of Fordham University (2010-2019) and previously a Director of the Curran Center for Catholic American Studies (2009-2018); formerly, senior external advisor to the Financial Services practice of Deloitte Consulting LLP. (2012-2014); former Chair of the Board of Trustees of Marian University (2010-2014 as trustee, 2011-2014 as Chair); formerly Chief Executive Officer of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division (2007-2008), with various executive leadership roles in ABN AMRO Bank N.V. between 1996 and 2007. | 146 |
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 1997 | Board Member, Land Trust Alliance (national public charity addressing natural land and water conservation in the U.S.) (since 2013); formerly, Board Member, U.S. Endowment for Forestry and Communities (national endowment addressing forest health, sustainable forest production and markets, and economic health of forest-reliant communities in the U.S.) (2013-2019); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation (private foundation endowed to support both natural land conservation and artistic vitality); prior thereto, Executive Director, Great Lakes Protection Fund (endowment created jointly by seven of the eight Great Lakes states' Governors to take a regional approach to improving the health of the Great Lakes) (1990-1994). | 146 |
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2007 | Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); formerly, Director, Cboe Global Markets, Inc., (2010-2020) (formerly named CBOE Holdings, Inc.); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010). | 146 |
Matthew Thornton III 1958 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2020 | Formerly, Executive Vice President and Chief Operating Officer (2018-2019), FedEx Freight Corporation, a subsidiary of FedEx Corporation ("FedEx") (provider of transportation, e-commerce and business services through its portfolio of companies); formerly, Senior Vice President, U.S. Operations (2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly Member of the Board of Directors (2012-2018), Safe Kids Worldwide® (a non-profit organization dedicated to preventing childhood injuries). Member of the Board of Directors (since 2014), The Sherwin-Williams Company (develops, manufactures, distributes and sells paints, coatings and related products); Director (since 2020), Crown Castle International (provider of communications infrastructure). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed (1) | Principal Occupation(s) Including other Directorships During Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee |
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2016 | Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (legal services, Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College. | 146 |
Robert L. Young 1963 333 W. Wacker Drive Chicago, IL 60606 | Trustee | 2017 | Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (financial services) (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (financial services) (formerly, One Group Dealer Services, Inc.) (1999-2017). | 146 |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Officers of the Funds: | ||||
Christopher E. Stickrod 1976 333 W. Wacker Drive Chicago, IL 60606 | Chief Administrative Officer | 2020 | Senior Managing Director (since 2017) and Head of Advisory Product (since 2020), formerly, Managing Director (2016-2017) and Senior Vice President (2013-2016) of Nuveen; Senior Managing Director of Nuveen Securities, LLC (since 2018) and of Nuveen Fund Advisors, LLC (since 2019). | |
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402 | Vice President and Secretary | 2013 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2018). | |
Diana R. Gonzalez 1978 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2017 | Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management, LLC (2012-2017). | |
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Treasurer | 2016 | Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Managing Director (since 2015) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst. | |
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2002 | Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC. | |
Brian J. Lockhart 1974 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2019 | Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Vice President (2010-2017) of Nuveen; Head of Investment Oversight (since 2017), formerly, Team Leader of Manager Oversight (2015-2017); Chartered Financial Analyst and Certified Financial Risk Manager. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Jacques M. Longerstaey 1963 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President | 2019 | Senior Managing Director, Chief Risk Officer, Nuveen (since May 2019); Senior Managing Director (since May 2019) of Nuveen Fund Advisors, LLC; formerly, Chief Investment and Model Risk Officer, Wealth & Investment Management Division, Wells Fargo Bank (NA) (2013-2019). | |
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2007 | Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Fund Advisors, LLC, formerly, Co-General Counsel (2011-2020), Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) of Nuveen Asset Management, LLC, formerly, Associate General Counsel (2011-2020), Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC. | |
Jon Scott Meissner 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Assistant Secretary | 2019 | Managing Director of Mutual Fund Tax and Financial Reporting groups at Nuveen (since 2017); Managing Director of Nuveen Fund Advisors, LLC (since 2019); Senior Director of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC (since 2016); Senior Director (since 2015) Mutual Fund Taxation to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the CREF Accounts; has held various positions with TIAA since 2004. | |
Deann D. Morgan 1969 730 Third Avenue New York, NY 10017 | Vice President | 2020 | President, Nuveen Fund Advisors, LLC (since 2020); Executive Vice President, Global Head of Product at Nuveen (since 2019); Co-Chief Executive Officer of Nuveen Securities, LLC (since 2020); Managing Member of MDR Collaboratory LLC (since 2018); Managing Director, Head of Wealth Management Product Structuring & COO Multi Asset Investing. The Blackstone Group (2013-2017). | |
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Managing Director and Assistant Secretary (since 2017) of Nuveen Securities, LLC; Managing Director (since 2017), General Counsel (since 2020), and Assistant Secretary (since 2016), formerly, Senior Vice President (2016-2017), of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Managing Director (since 2017) and Associate General Counsel (since 2016), formerly, Senior Vice President (2012-2017) and Assistant General Counsel (2008-2016) of Nuveen. | |
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606 | Vice President | 2017 | Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen. | |
E. Scott Wickerham 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 | Vice President and Controller | 2019 | Senior Managing Director, Head of Public Investment Finance at Nuveen (since 2019), formerly, Managing Director; Senior Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) of the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and Principal Financial Officer, Principal Accounting Officer (since 2020) and Treasurer (since 2017) of the CREF Accounts; formerly, Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various positions with TIAA since 2006. |
Name, Year of Birth & Address | Position(s) Held with the Funds | Year First Elected or Appointed(2) | Principal Occupation(s) During Past 5 Years | |
Mark L. Winget 1968 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Assistant Secretary | 2008 | Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2008), and Nuveen Fund Advisors, LLC (since 2019); Vice President, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Vice President (since 2010) and Associate General Counsel (since 2019), formerly, Assistant General Counsel (2008-2016) of Nuveen. | |
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606 | Vice President and Chief Compliance Officer | 1988 | Formerly: Managing Director (2002-2020) and Assistant Secretary (2002-2020) of Nuveen Securities, LLC; formerly, Managing Director (2002-2020), Assistant Secretary (1997-2020) and Co-General Counsel (2011-2020) of Nuveen Fund Advisors, LLC; formerly, Managing Director (2004-2020) and Assistant Secretary (1994-2020) of Nuveen Investments, Inc.; formerly, Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (2011-2020); formerly, Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (2002-2020), Santa Barbara Asset Management, LLC (2006-2020) and Winslow Capital Management, LLC (2010-2020); Chartered Financial Analyst. |
Serving Investors for Generations
ITEM 2. | CODE OF ETHICS. |
As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/fund-governance. (To view the code, click on Code of Conduct.)
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant’s audit committee financial experts are Carole E. Stone, Jack B. Evans, William C. Hunter and Albin F. Moschner, who are “independent” for purposes of Item 3 of Form N-CSR.
Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State’s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State’s bond-related disclosure documents and certifying that they fairly presented the State’s financial position; reviewing audits of various State and local agencies and programs; and coordinating the State’s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone’s position on the boards of these entities and as a member of both CBOE Holdings’ Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.
Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser (“SCI”). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the “CFO”) and actively supervised the CFO’s preparation of financial statements and other filings with various regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI’s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.
Mr. Hunter was formerly a Senior Vice President at the Federal Reserve Bank of Chicago. As part of his role as Senior Vice President, Mr. Hunter was the senior officer responsible for all operations of each of the Economic Research, Statistics, and Community and Consumer Affairs units at the Federal Reserve Bank of Chicago. In such capacity, Mr. Hunter oversaw the subunits of the Statistics and Community and Consumer Affairs divisions responsible for the analysis and evaluation of bank and bank holding company financial statements and financial filings. Prior to serving as Senior Vice President at the Federal Reserve Bank of Chicago, Mr. Hunter was the Vice President of the Financial Markets unit at the Federal Reserve Bank of Atlanta where he supervised financial staff and bank holding company analysts who analyzed and evaluated bank and bank holding company financial statements. Mr. Hunter also currently serves on the Boards of Directors of Xerox Corporation and Wellmark, Inc. as well as on the Audit Committees of such Boards. As an Audit Committee member, Mr. Hunter’s responsibilities include, among other things, reviewing financial statements, internal audits and internal controls over financial reporting. Mr. Hunter also formerly was a Professor of Finance at the University of Connecticut School of Business and has authored numerous scholarly articles on the topics of finance, accounting and economics.
Mr. Moschner, Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc., (consumer wireless services) including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996), including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics).
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
The following tables show the amount of fees that PriceWaterHouseCoopers LLP, the Funds’ auditor, billed to the Funds’ during the Funds’ last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PriceWaterHouseCoopers LLP, provided to the Funds, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the “pre-approval exception”). The preapproval exception for services provided directly to the Funds waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Funds during the fiscal year in which the services are provided; (B) the Funds did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the audit is completed.
The Audit Committee has delegated certain pre-approval responsibilities to its Chair (or, in her absence, any other member of the Audit Committee).
Fiscal Year Ended July 31, 2021 | Audit Fees Billed to Funds 1 | Audit-Related Fees Billed to Funds 2 | Tax Fees Billed to Funds 3 | All Other Fees Billed to Funds 4 | ||||||||||||
Fund Name | ||||||||||||||||
Nuveen Santa Barbara Dividend Growth Fund | 38,085 | 0 | 2,500 | 0 | ||||||||||||
Nuveen Emerging Markets Equity Fund | 19,450 | 0 | 0 | 0 | ||||||||||||
Nuveen Santa Barbara Global Dividend Growth Fund | 19,460 | 0 | 0 | 0 | ||||||||||||
Nuveen Santa Barbara International Dividend Growth Fund | 19,415 | 0 | 0 | 0 | ||||||||||||
Nuveen Winslow International Large Cap Fund | 19,420 | 0 | 0 | 0 | ||||||||||||
Nuveen Winslow International Small Cap Fund | 19,560 | 0 | 0 | 0 | ||||||||||||
Nuveen International Growth Fund | 26,225 | 0 | 3,610 | 0 | ||||||||||||
Nuveen Winslow Large-Cap Growth ESG Fund | 21,810 | 6,500 | 2,500 | 0 | ||||||||||||
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|
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|
|
|
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| |||||||||
Total | $ | 183,425 | $ | 6,500 | $ | 8,610 | $ | 0 |
1 | “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements. |
2 | “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage. |
3 | “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant. |
4 | “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage. |
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||||||
Audit Fees Billed to Funds | Audit-Related Fees Billed to Funds | Tax Fees Billed to Funds | All Other Fees Billed to Funds | |||||||||||||
Fund Name | ||||||||||||||||
Nuveen Santa Barbara Dividend Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Emerging Markets Equity Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Santa Barbara Global Dividend Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Santa Barbara International Dividend Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Winslow International Large Cap Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Winslow International Small Cap Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen International Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Winslow Large-Cap Growth ESG Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Fiscal Year Ended July 31, 2020 | Audit Fees Billed to Funds 1 | Audit-Related Fees Billed to Funds 2 | Tax Fees Billed to Funds 3 | All Other Fees Billed to Funds 4 | ||||||||||||
Fund Name | ||||||||||||||||
Nuveen Santa Barbara Dividend Growth Fund | 28,910 | 0 | 7,360 | 0 | ||||||||||||
Nuveen Emerging Markets Equity Fund | 18,995 | 0 | 0 | 0 | ||||||||||||
Nuveen Santa Barbara Global Dividend Growth Fund | 19,030 | 0 | 0 | 0 | ||||||||||||
Nuveen Santa Barbara International Dividend Growth Fund | 18,970 | 0 | 0 | 0 | ||||||||||||
Nuveen Winslow International Large Cap Fund | 18,975 | 0 | 0 | 0 | ||||||||||||
Nuveen Winslow International Small Cap Fund | 19,105 | 0 | 0 | 0 | ||||||||||||
Nuveen International Growth Fund | 20,030 | 0 | 5,356 | 0 | ||||||||||||
Nuveen Winslow Large-Cap Growth ESG Fund | 21,475 | 4,500 | 5,000 | 0 | ||||||||||||
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|
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| |||||||||
Total | $ | 165,490 | $ | 4,500 | $ | 17,716 | $ | 0 |
1 | “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements. |
2 | “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage. |
3 | “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant. |
4 | “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage. |
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||||||
Audit Fees Billed to Funds | Audit-Related Fees Billed to Funds | Tax Fees Billed to Funds | All Other Fees Billed to Funds | |||||||||||||
Fund Name | ||||||||||||||||
Nuveen Santa Barbara Dividend Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Emerging Markets Equity Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Santa Barbara Global Dividend Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Santa Barbara International Dividend Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Winslow International Large Cap Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Winslow International Small Cap Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen International Growth Fund | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||
Nuveen Winslow Large-Cap Growth ESG Fund | 0 | % | 0 | % | 0 | % | 0 | % |
Fiscal Year Ended July 31, 2021 | Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | |||||||||
Nuveen Investment Trust II | $ | 0 | $ | 0 | $ | 0 | ||||||
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||
Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | ||||||||||
0 | % | 0 | % | 0 | % | |||||||
Fiscal Year Ended July 31, 2020 | Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | |||||||||
Nuveen Investment Trust II | $ | 0 | $ | 0 | $ | 0 | ||||||
Percentage Approved Pursuant to Pre-approval Exception | ||||||||||||
Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers | Tax Fees Billed to Adviser and Affiliated Fund Service Providers | All Other Fees Billed to Adviser and Affiliated Fund Service Providers | ||||||||||
0 | % | 0 | % | 0 | % |
Fiscal Year Ended July 31, 2021 | Total Non-Audit Fees Billed to Trust | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) | |||||||||
Fund Name | ||||||||||||
Nuveen Santa Barbara Dividend Growth Fund | 2,500 | 0 | 0 | |||||||||
Nuveen Emerging Markets Equity Fund | 0 | 0 | 0 | |||||||||
Nuveen Santa Barbara Global Dividend Growth Fund | 0 | 0 | 0 | |||||||||
Nuveen Santa Barbara International Dividend Growth Fund | 0 | 0 | 0 | |||||||||
Nuveen Winslow International Large Cap Fund | 0 | 0 | 0 | |||||||||
Nuveen Winslow International Small Cap Fund | 0 | 0 | 0 | |||||||||
Nuveen International Growth Fund | 3,610 | 0 | 0 | |||||||||
Nuveen Winslow Large-Cap Growth ESG Fund | 2,500 | 0 | 0 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 8,610 | $ | 0 | $ | 0 |
“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.
Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
Fiscal Year Ended July 31, 2020 | Total Non-Audit Fees Billed to Trust | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust) | Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) | |||||||||
Fund Name | ||||||||||||
Nuveen Santa Barbara Dividend Growth Fund | 7,360 | 0 | 0 | |||||||||
Nuveen Emerging Markets Equity Fund | 0 | 0 | 0 | |||||||||
Nuveen Santa Barbara Global Dividend Growth Fund | 0 | 0 | 0 | |||||||||
Nuveen Santa Barbara International Dividend Growth Fund | 0 | 0 | 0 | |||||||||
Nuveen Winslow International Large Cap Fund | 0 | 0 | 0 | |||||||||
Nuveen Winslow International Small Cap Fund | 0 | 0 | 0 | |||||||||
Nuveen International Growth Fund | 5,356 | 0 | 0 | |||||||||
Nuveen Winslow Large-Cap Growth ESG Fund | 5,000 | 0 | 0 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 17,715 | $ | 0 | $ | 0 |
“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.
Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Funds by the Funds’ independent accountant and (ii) all audit and non-audit services to be performed by the Funds’ independent accountant for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Funds. Regarding tax and research projects conducted by the independent accountant for the Funds and Affiliated Fund Service Providers (with respect to operations and financial reports of the Trust), such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee Chair for her verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.
ITEM 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 of Trustees implemented after the registrant last provided disclosure in response to this Item.
ITEM 11. | CONTROLS AND PROCEDURES. |
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
ITEM 12. | DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
ITEM 13. | EXHIBITS. |
File the exhibits listed below as part of this Form.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Investment Trust II
By (Signature and Title) | /s/ Mark J. Czarniecki | |
Mark J. Czarniecki | ||
Vice President and Secretary |
Date: October 6, 2021
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Christopher E. Stickrod | |
Christopher E. Stickrod | ||
Chief Administrative Officer | ||
(principal executive officer) |
Date: October 6, 2021
By (Signature and Title) | /s/ E. Scott Wickerham | |
E. Scott Wickerham | ||
Vice President and Controller | ||
(principal financial officer) |
Date: October 6, 2021