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SECURITIES AND EXCHANGE COMMISSION
MANAGEMENT INVESTMENT COMPANIES
7337 E. Doubletree Ranch Rd., Scottsdale, AZ | 85258 | |
(Address of principal executive offices) | (Zip code) |
This report is submitted for general information to shareholders of the ING Funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully. |
MUTUAL FUNDS | |
President’s Letter | 1 | |||||
Market Perspective | 2 | |||||
Portfolio Managers’ Reports | 4 | |||||
Shareholder Expense Examples | 11 | |||||
Statements of Assets and Liabilities | 13 | |||||
Statements of Operations | 17 | |||||
Statements of Changes in Net Assets | 19 | |||||
Financial Highlights | 23 | |||||
Notes to Financial Statements | 29 | |||||
Summary Portfolios of Investments | 45 | |||||
Advisory Contract Approval Discussion | 61 |
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President and Chief Executive Officer
ING Funds
The views expressed in the President’s Letter reflect those of the President as of the date of the letter. Any such views are subject to change at any time based upon market or other conditions and ING Funds disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for an ING Fund are based on numerous factors, may not be relied on as an indication of investment intent on behalf of any ING Fund. Reference to specific company securities should not be construed as recommendations or investment advice.
Index | Description | |||||
---|---|---|---|---|---|---|
Barclays Capital Corporate Investment Grade Bond Index | The corporate component of the Barclays Capital U.S. Credit Index. The U.S. Credit Index includes publicly-issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. The index includes both corporate and non-corporate sectors. The corporate sectors are industrial, utility and finance, which includes both U.S. and non-U.S. corporations. | |||||
Barclays Capital High Yield Bond — 2% Issuer Constrained Composite Index | An unmanaged index that includes all fixed income securities having a maximum quality rating of Ba1, a minimum amount outstanding of $150 million, and at least one year to maturity. | |||||
Barclays Capital U.S. Aggregate Bond Index | An unmanaged index of publicly issued investment grade U.S. Government, mortgage-backed, asset-backed and corporate debt securities. | |||||
Barclays Capital U.S. Treasury Index | An unmanaged index that includes public obligations of the U.S. Treasury. Treasury bills, certain special issues, such as state and local government series bonds (SLGs), as well as U.S. Treasury TIPS and STRIPS, are excluded. | |||||
MSCI Europe ex UK® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK. | |||||
MSCI Japan® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan. | |||||
MSCI U.S. REIT® Index | A free float-adjusted market capitalization weighted index that is comprised of equity real estate investment trusts that are included in the MSCI U.S. Investable Market 2500 Index (with the exception of specialty REITs that do not generate a majority of their revenue and income from real estate rental and leasing obligations). The index represents approximately 85% of the U.S. REIT market. | |||||
MSCI UK® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK. | |||||
MSCI World IndexSM | An unmanaged index that measures the performance of over 1,400 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East. | |||||
Russell 1000 Value® Index | An unmanaged index that measures the performance of those Russell 1000® securities with lower price-to-book ratios and lower forecasted growth values. | |||||
Russell 1000® Index | An unmanaged, comprehensive large-cap index measuring the performance of the largest 1,000 U.S. incorporated companies. | |||||
Russell 2000® Growth Index | An unmanaged index that measures the performance of securities of smaller U.S. companies with greater than average growth orientation. | |||||
Russell 2000® Index | An unmanaged index that measures the performance of securities of small U.S. companies. | |||||
Russell 3000® Growth Index | An unmanaged index that measures performance of broad growth segment of the U.S. Equity universe. It includes those Russell 3000® companies with higher price-to-book ratios and higher forecasted growth values. | |||||
Russell 3000® Value Index | A market capitalization-weighted index of stocks of the 3,000 largest U.S. domiciled companies that exhibit value oriented companies. | |||||
Russell Midcap® Index | An unmanaged index that measures the performance of the 800 smallest companies in the Russell 1000® Index, which represents approximately 26% of the total market capitalization of the Russell 1000® Index. | |||||
Russell Midcap® Growth Index | An unmanaged index that measures the performance of those companies included in the Russell Midcap® Index with relatively higher price-to-book ratios and higher forecasted growth values. | |||||
Russell Midcap® Value Index | An unmanaged index that measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell Midcap® Index companies with lower price-to-book ratios and lower forecasted growth values | |||||
S&P 500® Index | An unmanaged index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major U.S. stock markets. | |||||
S&P/Case-Shiller 20-City Composite Home Price Index | A composite index of the home price index for the top 20 Metropolitan Statistical Areas in the United States. The index is published monthly by Standard & Poor’s. |
Sector Diversification as of November 30, 2012 (as a percentage of net assets) | ||||||||
Information Technology | 33.8 | % | ||||||
Consumer Discretionary | 16.7 | % | ||||||
Industrials | 12.6 | % | ||||||
Health Care | 11.7 | % | ||||||
Consumer Staples | 9.6 | % | ||||||
Energy | 5.0 | % | ||||||
Financials | 4.7 | % | ||||||
Materials | 4.0 | % | ||||||
Assets in Excess of Other Liabilities* | 1.9 | % | ||||||
Net Assets | 100.0 | % | ||||||
* Includes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of November 30, 2012 (as a percentage of net assets) | ||||||||
Apple, Inc. | 8.3 | % | ||||||
Google, Inc. — Class A | 4.2 | % | ||||||
International Business Machines Corp. | 3.1 | % | ||||||
Wal-Mart Stores, Inc. | 2.5 | % | ||||||
Comcast Corp. — Class A | 2.3 | % | ||||||
Oracle Corp. | 2.2 | % | ||||||
Union Pacific Corp. | 2.1 | % | ||||||
Costco Wholesale Corp. | 2.1 | % | ||||||
Gilead Sciences, Inc. | 2.1 | % | ||||||
Qualcomm, Inc. | 2.1 | % | ||||||
Portfolio holdings are subject to change daily. |
Sector Diversification as of November 30, 2012 (as a percentage of net assets) | ||||||||
Financials | 24.3 | % | ||||||
Energy | 14.6 | % | ||||||
Health Care | 10.2 | % | ||||||
Consumer Discretionary | 9.1 | % | ||||||
Industrials | 8.8 | % | ||||||
Consumer Staples | 6.8 | % | ||||||
Information Technology | 6.1 | % | ||||||
Utilities | 6.0 | % | ||||||
Materials | 4.7 | % | ||||||
Telecommunication Services | 3.7 | % | ||||||
Exchange-Traded Funds | 2.3 | % | ||||||
Assets in Excess of Other Liabilities* | 3.4 | % | ||||||
Net Assets | 100.0 | % | ||||||
* Includes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of November 30, 2012* (as a percentage of net assets) | ||||||||
ExxonMobil Corp. | 7.1 | % | ||||||
Pfizer, Inc. | 3.9 | % | ||||||
Wells Fargo & Co. | 3.2 | % | ||||||
Merck & Co., Inc. | 3.2 | % | ||||||
General Electric Co. | 3.1 | % | ||||||
JPMorgan Chase & Co. | 2.8 | % | ||||||
Cisco Systems, Inc. | 2.5 | % | ||||||
iShares Russell 1000 Value Index Fund | 2.3 | % | ||||||
Lowe’s Cos., Inc. | 2.2 | % | ||||||
Verizon Communications, Inc. | 2.0 | % | ||||||
* Excludes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Sector Diversification as of November 30, 2012 (as a percentage of net assets) | ||||||||
Financials | 23.3 | % | ||||||
Industrials | 16.5 | % | ||||||
Materials | 10.8 | % | ||||||
Consumer Discretionary | 10.4 | % | ||||||
Energy | 9.9 | % | ||||||
Information Technology | 9.5 | % | ||||||
Health Care | 8.9 | % | ||||||
Utilities | 6.6 | % | ||||||
Consumer Staples | 2.6 | % | ||||||
Telecommunication Services | 0.3 | % | ||||||
Assets in Excess of Other Liabilities* | 1.2 | % | ||||||
Net Assets | 100.0 | % | ||||||
* Includes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of November 30, 2012 (as a percentage of net assets) | ||||||||
Noble Corp. | 2.2 | % | ||||||
Arrow Electronics, Inc. | 2.1 | % | ||||||
Reinsurance Group of America, Inc. | 2.1 | % | ||||||
Edison International | 2.0 | % | ||||||
Newell Rubbermaid, Inc. | 1.8 | % | ||||||
ACCO Brands Corp. | 1.7 | % | ||||||
KKR Financial Holdings LLC | 1.7 | % | ||||||
UnumProvident Corp. | 1.7 | % | ||||||
Skyworks Solutions, Inc. | 1.6 | % | ||||||
Mattel, Inc. | 1.5 | % | ||||||
Portfolio holdings are subject to change daily. |
Sector Diversification as of November 30, 2012 (as a percentage of net assets) | ||||||||
Consumer Discretionary | 26.1 | % | ||||||
Information Technology | 16.4 | % | ||||||
Industrials | 16.3 | % | ||||||
Health Care | 13.0 | % | ||||||
Financials | 8.0 | % | ||||||
Energy | 6.3 | % | ||||||
Consumer Staples | 6.1 | % | ||||||
Materials | 4.4 | % | ||||||
Telecommunication Services | 1.7 | % | ||||||
Assets in Excess of Other Liabilities* | 1.7 | % | ||||||
Net Assets | 100.0 | % | ||||||
* Includes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of November 30, 2012 (as a percentage of net assets) | ||||||||
Discovery Communications, Inc. — Class A | 2.1 | % | ||||||
Intuit, Inc. | 2.1 | % | ||||||
Roper Industries, Inc. | 2.0 | % | ||||||
Whole Foods Market, Inc. | 2.0 | % | ||||||
Coca-Cola Enterprises, Inc. | 1.9 | % | ||||||
Delphi Automotive PLC | 1.9 | % | ||||||
NetApp, Inc. | 1.9 | % | ||||||
Gap, Inc. | 1.9 | % | ||||||
Watson Pharmaceuticals, Inc. | 1.9 | % | ||||||
Cameron International Corp. | 1.9 | % | ||||||
Portfolio holdings are subject to change daily. |
* | Effective October 1, 2012, James Hasso is no longer a portfolio manager to the Fund. |
REIT Diversification as of November 30, 2012 (as a percentage of net assets) | ||||||||
Retail REITs | 29.5 | % | ||||||
Specialized REITs | 26.0 | % | ||||||
Residential REITs | 19.1 | % | ||||||
Office REITs | 13.4 | % | ||||||
Diversified REITs | 5.8 | % | ||||||
Industrial REITs | 4.4 | % | ||||||
Real Estate Services | 0.5 | % | ||||||
Assets in Excess of Other Liabilities* | 1.3 | % | ||||||
Net Assets | 100.0 | % | ||||||
* Includes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of November 30, 2012 (as a percentage of net assets) | ||||||||
Simon Property Group, Inc. | 11.2 | % | ||||||
Boston Properties, Inc. | 5.2 | % | ||||||
HCP, Inc. | 4.9 | % | ||||||
Equity Residential | 4.4 | % | ||||||
ProLogis, Inc. | 4.4 | % | ||||||
Public Storage, Inc. | 4.3 | % | ||||||
Health Care Real Estate Investment Trust, Inc. | 4.1 | % | ||||||
Host Hotels & Resorts, Inc. | 4.1 | % | ||||||
Ventas, Inc. | 4.0 | % | ||||||
AvalonBay Communities, Inc. | 4.0 | % | ||||||
Portfolio holdings are subject to change daily. |
Sector Diversification as of November 30, 2012 (as a percentage of net assets) | ||||||||
Information Technology | 21.4 | % | ||||||
Consumer Discretionary | 18.1 | % | ||||||
Health Care | 17.9 | % | ||||||
Industrials | 17.7 | % | ||||||
Financials | 8.0 | % | ||||||
Energy | 6.1 | % | ||||||
Materials | 4.0 | % | ||||||
Consumer Staples | 2.0 | % | ||||||
Exchange-Traded Funds | 1.9 | % | ||||||
Assets in Excess of Other Liabilities* | 2.9 | % | ||||||
Net Assets | 100.0 | % | ||||||
* Includes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of November 30, 2012* (as a percentage of net assets) | ||||||||
iShares Russell 2000 Growth Index Fund | 1.9 | % | ||||||
Acuity Brands, Inc. | 1.2 | % | ||||||
Life Time Fitness, Inc. | 1.2 | % | ||||||
Aspen Technology, Inc. | 1.1 | % | ||||||
Parametric Technology Corp. | 1.1 | % | ||||||
Aruba Networks, Inc. | 1.0 | % | ||||||
Cooper Tire & Rubber Co. | 1.0 | % | ||||||
Actuant Corp. | 1.0 | % | ||||||
Healthsouth Corp. | 1.0 | % | ||||||
Portfolio Recovery Associates, Inc. | 1.0 | % | ||||||
* Excludes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Sector Diversification as of November 30, 2012 (as a percentage of net assets) | ||||||||
Financials | 25.0 | % | ||||||
Energy | 15.5 | % | ||||||
Consumer Discretionary | 11.1 | % | ||||||
Health Care | 10.5 | % | ||||||
Industrials | 9.1 | % | ||||||
Consumer Staples | 6.9 | % | ||||||
Information Technology | 6.3 | % | ||||||
Utilities | 6.1 | % | ||||||
Materials | 4.9 | % | ||||||
Telecommunication Services | 3.8 | % | ||||||
Assets in Excess of Other Liabilities | 0.8 | % | ||||||
Net Assets | 100.0 | % | ||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of November 30, 2012 (as a percentage of net assets) | ||||||||
ExxonMobil Corp. | 7.3 | % | ||||||
Pfizer, Inc. | 4.0 | % | ||||||
Wells Fargo & Co. | 3.3 | % | ||||||
Merck & Co., Inc. | 3.3 | % | ||||||
General Electric Co. | 3.2 | % | ||||||
JPMorgan Chase & Co. | 2.9 | % | ||||||
Cisco Systems, Inc. | 2.5 | % | ||||||
Lowe’s Cos., Inc. | 2.3 | % | ||||||
Verizon Communications, Inc. | 2.1 | % | ||||||
Halliburton Co. | 2.0 | % | ||||||
Portfolio holdings are subject to change daily. |
* | On September 6, 2012, the Fund’s Board of Directors approved an interim change of the Fund’s sub-adviser to ING Investment Management Co. LLC (“ING IM”) along with a proposal for a permanent sub-adviser change to ING IM and a proposal to reorganize the Fund with and into ING Large Cap Value Fund. Tradewinds ceased management of the Fund as of the close of business on November 13, 2012. From the close of business on November 13, 2012 through the close of business on November 30, 2012, the Fund was in a transition period. The interim sub-adviser change took place on November 30, 2012, along with related changes to the Fund’s principal investment strategies. The permanent sub-adviser and the proposal for the merger require shareholder vote. A shareholder meeting is scheduled to be held on or about March 14, 2013. If approved, a new permanent sub-advisory agreement with ING IM will become effective on or about March 14, 2013, and the merger is expected to take place on or about March 23, 2013. |
Actual Fund Return | Hypothetical (5% return before expenses) | ||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value June 1, 2012 | Ending Account Value November 30, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended November 30, 2012* | Beginning Account Value June 1, 2012 | Ending Account Value November 30, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended November 30, 2012* | ||||||||||||||||||||||||||||
ING Growth Opportunities Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,078.60 | 1.35 | % | $ | 7.03 | $ | 1,000.00 | $ | 1,018.30 | 1.35 | % | $ | 6.83 | |||||||||||||||||||
Class B | 1,000.00 | 1,075.30 | 2.00 | 10.40 | 1,000.00 | 1,015.04 | 2.00 | 10.10 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,075.10 | 2.00 | 10.40 | 1,000.00 | 1,015.04 | 2.00 | 10.10 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,080.40 | 1.00 | 5.22 | 1,000.00 | 1,020.05 | 1.00 | 5.06 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,080.60 | 1.00 | 5.22 | 1,000.00 | 1,020.05 | 1.00 | 5.06 | |||||||||||||||||||||||||||
ING Large Cap Value Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,102.80 | 1.13 | 5.96 | 1,000.00 | 1,019.40 | 1.13 | 5.72 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,099.70 | 1.88 | 9.90 | 1,000.00 | 1,015.64 | 1.88 | 9.50 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,100.10 | 1.88 | 9.90 | 1,000.00 | 1,015.64 | 1.88 | 9.50 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,106.10 | 0.80 | 4.22 | 1,000.00 | 1,021.06 | 0.80 | 4.05 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 1,102.70 | 1.33 | 7.01 | 1,000.00 | 1,018.40 | 1.33 | 6.73 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,105.00 | 0.88 | 4.64 | 1,000.00 | 1,020.66 | 0.88 | 4.46 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 183/365 to reflect the most recent fiscal half-year. |
Actual Fund Return | Hypothetical (5% return before expenses) | ||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value June 1, 2012 | Ending Account Value November 30, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended November 30, 2012* | Beginning Account Value June 1, 2012 | Ending Account Value November 30, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended November 30, 2012* | ||||||||||||||||||||||||||||
ING Mid Cap Value Fund | |||||||||||||||||||||||||||||||||||
Class I | $ | 1,000.00 | $ | 1,101.60 | 0.90 | % | $ | 4.74 | $ | 1,000.00 | $ | 1,020.56 | 0.90 | % | $ | 4.56 | |||||||||||||||||||
ING MidCap Opportunities Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,045.50 | 1.33 | 6.82 | 1,000.00 | 1,018.40 | 1.33 | 6.73 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,041.20 | 2.08 | 10.64 | 1,000.00 | 1,014.64 | 2.08 | 10.50 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,040.80 | 2.08 | 10.64 | 1,000.00 | 1,014.64 | 2.08 | 10.50 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,047.50 | 0.91 | 4.67 | 1,000.00 | 1,020.51 | 0.91 | 4.61 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,045.10 | 1.33 | 6.82 | 1,000.00 | 1,018.40 | 1.33 | 6.73 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 1,044.00 | 1.58 | 8.10 | 1,000.00 | 1,017.15 | 1.58 | 7.99 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,046.70 | 1.08 | 5.54 | 1,000.00 | 1,019.65 | 1.08 | 5.47 | |||||||||||||||||||||||||||
ING Real Estate Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,028.40 | 1.23 | 6.25 | 1,000.00 | 1,018.90 | 1.23 | 6.23 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,024.40 | 1.98 | 10.05 | 1,000.00 | 1,015.14 | 1.98 | 10.00 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,024.80 | 1.98 | 10.05 | 1,000.00 | 1,015.14 | 1.98 | 10.00 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,030.10 | 0.87 | 4.43 | 1,000.00 | 1,020.71 | 0.87 | 4.41 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,028.40 | 1.23 | 6.25 | 1,000.00 | 1,018.90 | 1.23 | 6.23 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 1,027.00 | 1.48 | 7.52 | 1,000.00 | 1,017.65 | 1.48 | 7.49 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,030.00 | 0.98 | 4.99 | 1,000.00 | 1,020.16 | 0.98 | 4.96 | |||||||||||||||||||||||||||
ING SmallCap Opportunities Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,066.90 | 1.50 | 7.77 | 1,000.00 | 1,017.55 | 1.50 | 7.59 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,062.90 | 2.25 | 11.64 | 1,000.00 | 1,013.79 | 2.25 | 11.36 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,063.00 | 2.25 | 11.64 | 1,000.00 | 1,013.79 | 2.25 | 11.36 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,069.00 | 1.10 | 5.71 | 1,000.00 | 1,019.55 | 1.10 | 5.57 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 1,065.50 | 1.75 | 9.06 | 1,000.00 | 1,016.29 | 1.75 | 8.85 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,068.30 | 1.25 | 6.48 | 1,000.00 | 1,018.80 | 1.25 | 6.33 | |||||||||||||||||||||||||||
ING Value Choice Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,080.60 | 1.40 | 7.30 | 1,000.00 | 1,018.05 | 1.40 | 7.08 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,076.80 | 2.15 | 11.19 | 1,000.00 | 1,014.29 | 2.15 | 10.86 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,077.40 | 2.15 | 11.20 | 1,000.00 | 1,014.29 | 2.15 | 10.86 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,082.20 | 1.15 | 6.00 | 1,000.00 | 1,019.30 | 1.15 | 5.82 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,081.20 | 1.40 | 7.30 | 1,000.00 | 1,018.05 | 1.40 | 7.08 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,082.10 | 1.15 | 6.00 | 1,000.00 | 1,019.30 | 1.15 | 5.82 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 183/365 to reflect the most recent fiscal half-year. |
ING Growth Opportunities Fund | ING Large Cap Value Fund | ING Mid Cap Value Fund | ING MidCap Opportunities Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at fair value+* | $ | 97,311,778 | $ | 421,122,327 | $ | 262,269,156 | $ | 895,586,735 | ||||||||||
Short-term investments at fair value** | 564,000 | 12,862,000 | 9,851,572 | 21,853,346 | ||||||||||||||
Total Investments at fair value | $ | 97,875,778 | $ | 433,984,327 | $ | 272,120,728 | $ | 917,440,081 | ||||||||||
Cash | 21,491 | 14,427 | 1,947,990 | 2,884 | ||||||||||||||
Receivables: | ||||||||||||||||||
Investment securities sold | 2,389,711 | 16,894,282 | 3,232,434 | 22,326,337 | ||||||||||||||
Fund shares sold | 165,875 | 1,323,920 | 9,025 | 2,831,941 | ||||||||||||||
Dividends | 111,321 | 1,156,167 | 429,826 | 679,524 | ||||||||||||||
Interest | — | 5 | 41 | — | ||||||||||||||
Foreign tax reclaims | — | — | 2,953 | 444 | ||||||||||||||
Prepaid expenses | 46,188 | 64,130 | 2,203 | 88,355 | ||||||||||||||
Reimbursement due from manager | 1,547 | 3,698 | — | 18,428 | ||||||||||||||
Total assets | 100,611,911 | 453,440,956 | 277,745,200 | 943,387,994 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investment securities purchased | 1,012,626 | 16,245,977 | 793,720 | 24,693,926 | ||||||||||||||
Payable for fund shares redeemed | 293,986 | 880,735 | 4,231,106 | 1,844,033 | ||||||||||||||
Payable upon receipt of securities loaned | — | — | 7,027,923 | 4,559,346 | ||||||||||||||
Payable for investment management fees | 60,960 | 206,441 | 158,800 | 550,983 | ||||||||||||||
Payable for administrative fees | 8,128 | 31,716 | 21,972 | 72,841 | ||||||||||||||
Payable for distribution and shareholder service fees | 31,975 | 21,132 | — | 153,564 | ||||||||||||||
Payable for trustee fees | 474 | 1,383 | 1,215 | 4,110 | ||||||||||||||
Other accrued expenses and liabilities | 80,377 | 27,991 | 108,061 | 344,610 | ||||||||||||||
Total liabilities | 1,488,526 | 17,415,375 | 12,342,797 | 32,223,413 | ||||||||||||||
NET ASSETS | $ | 99,123,385 | $ | 436,025,581 | $ | 265,402,403 | $ | 911,164,581 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 92,564,200 | $ | 394,538,616 | $ | 214,505,265 | $ | 823,178,458 | ||||||||||
Undistributed net investment income/ Accumulated net investment loss | (122,518 | ) | 1,080,078 | 2,109,987 | (35,559 | ) | ||||||||||||
Accumulated net realized gain (loss) | (8,950,769 | ) | 12,241,973 | 29,723,537 | 4,834,417 | |||||||||||||
Net unrealized appreciation | 15,632,472 | 28,164,914 | 19,063,614 | 83,187,265 | ||||||||||||||
NET ASSETS | $ | 99,123,385 | $ | 436,025,581 | $ | 265,402,403 | $ | 911,164,581 | ||||||||||
+ Including securities loaned at value | $ | — | $ | — | $ | 6,811,469 | $ | 4,455,407 | ||||||||||
* Cost of investments in securities | $ | 81,679,306 | $ | 392,957,413 | $ | 243,205,467 | $ | 812,399,382 | ||||||||||
** Cost of short-term investments | $ | 564,000 | $ | 12,862,000 | $ | 9,851,572 | $ | 21,853,346 |
ING Growth Opportunities Fund | ING Large Cap Value Fund | ING Mid Cap Value Fund | ING MidCap Opportunities Fund | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||||||
Net assets | $ | 54,523,255 | $ | 44,710,149 | $ | n/a | $ | 327,858,085 | |||||||||||
Shares authorized | unlimited | unlimited | n/a | unlimited | |||||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | n/a | $ | 0.01 | |||||||||||
Shares outstanding | 2,113,201 | 4,141,885 | n/a | 16,210,051 | |||||||||||||||
Net asset value and redemption price per share | $ | 25.80 | $ | 10.79 | $ | n/a | $ | 20.23 | |||||||||||
Maximum offering price per share (5.75%)(1) | $ | 27.37 | $ | 11.45 | $ | n/a | $ | 21.46 | |||||||||||
Class B | |||||||||||||||||||
Net assets | $ | 2,105,800 | $ | 535,673 | $ | n/a | $ | 5,581,518 | |||||||||||
Shares authorized | unlimited | unlimited | n/a | unlimited | |||||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | n/a | $ | 0.01 | |||||||||||
Shares outstanding | 88,348 | 49,817 | n/a | 310,936 | |||||||||||||||
Net asset value and redemption price per share† | $ | 23.84 | $ | 10.75 | $ | n/a | $ | 17.95 | |||||||||||
Class C | |||||||||||||||||||
Net assets | $ | 17,904,934 | $ | 14,149,096 | $ | n/a | $ | 91,565,612 | |||||||||||
Shares authorized | unlimited | unlimited | n/a | unlimited | |||||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | n/a | $ | 0.01 | |||||||||||
Shares outstanding | 753,418 | 1,314,040 | n/a | 5,129,798 | |||||||||||||||
Net asset value and redemption price per share† | $ | 23.76 | $ | 10.77 | $ | n/a | $ | 17.85 | |||||||||||
Class I | |||||||||||||||||||
Net assets | $ | 22,648,665 | $ | 350,572,375 | $ | 265,402,403 | $ | 373,287,851 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | 0.01 | $ | 0.01 | |||||||||||
Shares outstanding | 826,218 | 30,865,564 | 19,583,877 | 17,258,442 | |||||||||||||||
Net asset value and redemption price per share | $ | 27.41 | $ | 11.36 | $ | 13.55 | $ | 21.63 | |||||||||||
Class O | |||||||||||||||||||
Net assets | $ | n/a | $ | n/a | $ | n/a | $ | 41,728,927 | |||||||||||
Shares authorized | n/a | n/a | n/a | unlimited | |||||||||||||||
Par value | $ | n/a | $ | n/a | $ | n/a | $ | 0.01 | |||||||||||
Shares outstanding | n/a | n/a | n/a | 2,068,219 | |||||||||||||||
Net asset value and redemption price per share | $ | n/a | $ | n/a | $ | n/a | $ | 20.18 | |||||||||||
Class R | |||||||||||||||||||
Net assets | $ | n/a | $ | 1,144,022 | $ | n/a | $ | 85,582 | |||||||||||
Shares authorized | n/a | unlimited | n/a | unlimited | |||||||||||||||
Par value | $ | n/a | $ | 0.01 | $ | n/a | $ | 0.01 | |||||||||||
Shares outstanding | n/a | 106,040 | n/a | 4,245 | |||||||||||||||
Net asset value and redemption price per share | $ | n/a | $ | 10.79 | $ | n/a | $ | 20.16 | |||||||||||
Class W | |||||||||||||||||||
Net assets | $ | 1,940,731 | $ | 24,914,266 | $ | n/a | $ | 71,057,006 | |||||||||||
Shares authorized | unlimited | unlimited | n/a | unlimited | |||||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | n/a | $ | 0.01 | |||||||||||
Shares outstanding | 72,000 | 2,199,276 | n/a | 3,302,523 | |||||||||||||||
Net asset value and redemption price per share | $ | 26.95 | $ | 11.33 | $ | n/a | $ | 21.52 | |||||||||||
(1) Maximum offering price is computed at 100/94.25 of net asset value. On purchases of $100,000 or more, the offering price is reduced. | |||||||||||||||||||
† Redemption price per share may be reduced for any applicable contingent deferred sales charges. |
ING Real Estate Fund | ING SmallCap Opportunities Fund | ING Value Choice Fund | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||
Investments in securities at fair value+* | $ | 1,100,620,641 | $ | 193,340,458 | $ | 291,093,643 | ||||||||
Short-term investments at fair value** | 14,100,482 | 10,851,057 | — | |||||||||||
Total Investments at fair value | $ | 1,114,721,123 | $ | 204,191,515 | $ | 291,093,643 | ||||||||
Cash | — | 789 | 3,770,454 | |||||||||||
Receivables: | ||||||||||||||
Investment securities sold | 17,713,806 | 974,632 | — | |||||||||||
Fund shares sold | 8,527,220 | 434,462 | 85,945 | |||||||||||
Dividends | 542,450 | 185,048 | 880,936 | |||||||||||
Prepaid expenses | 93,229 | 60,723 | 43,552 | |||||||||||
Reimbursement due from manager | — | 11,989 | 37,232 | |||||||||||
Total assets | 1,141,597,828 | 205,859,158 | 295,911,762 | |||||||||||
LIABILITIES: | ||||||||||||||
Payable for investment securities purchased | 23,953,897 | 796,466 | — | |||||||||||
Payable for fund shares redeemed | 1,428,736 | 118,970 | 1,713,367 | |||||||||||
Payable upon receipt of securities loaned | — | 5,639,057 | — | |||||||||||
Payable for investment management fees | 636,756 | 143,031 | 227,521 | |||||||||||
Payable for administrative fees | 90,963 | 15,892 | 25,280 | |||||||||||
Payable for distribution and shareholder service fees | 64,814 | 32,854 | 105,411 | |||||||||||
Payable for trustee fees | 5,419 | 950 | 1,983 | |||||||||||
Other accrued expenses and liabilities | 168,088 | 123,564 | 517,388 | |||||||||||
Total liabilities | 26,348,673 | 6,870,784 | 2,590,950 | |||||||||||
NET ASSETS | $ | 1,115,249,155 | $ | 198,988,374 | $ | 293,320,812 | ||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||
Paid-in capital | $ | 934,360,059 | $ | 184,260,370 | $ | 333,396,474 | ||||||||
Undistributed (distributions in excess of) net investment income/Accumulated net investment loss | (7,358,445 | ) | (481,128 | ) | 2,012,721 | |||||||||
Accumulated net realized gain (loss) | (155,719,723 | ) | 1,450,377 | (53,396,511 | ) | |||||||||
Net unrealized appreciation | 343,967,264 | 13,758,755 | 11,308,128 | |||||||||||
NET ASSETS | $ | 1,115,249,155 | $ | 198,988,374 | $ | 293,320,812 | ||||||||
+ Including securities loaned at value | $ | — | $ | 5,481,006 | $ | — | ||||||||
* Cost of investments in securities | $ | 756,653,376 | $ | 179,581,703 | $ | 279,785,515 | ||||||||
** Cost of short-term investments | $ | 14,100,482 | $ | 10,851,057 | $ | — |
ING Real Estate Fund | ING SmallCap Opportunities Fund | ING Value Choice Fund | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||
Net assets | $ | 193,698,774 | $ | 71,222,287 | $ | 158,366,182 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | 0.01 | |||||||||
Shares outstanding | 12,308,203 | 1,665,588 | 11,044,942 | ||||||||||||
Net asset value and redemption price per share | $ | 15.74 | $ | 42.76 | $ | 14.34 | |||||||||
Maximum offering price per share (5.75%)(1) | $ | 16.70 | $ | 45.37 | $ | 15.21 | |||||||||
Class B | |||||||||||||||
Net assets | $ | 995,219 | $ | 1,230,841 | $ | 6,998,412 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | 0.01 | |||||||||
Shares outstanding | 62,972 | 33,265 | 494,300 | ||||||||||||
Net asset value and redemption price per share† | $ | 15.80 | $ | 37.00 | $ | 14.16 | |||||||||
Class C | |||||||||||||||
Net assets | $ | 21,059,786 | $ | 21,746,684 | $ | 75,826,509 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | 0.01 | |||||||||
Shares outstanding | 1,278,947 | 588,876 | 5,394,560 | ||||||||||||
Net asset value and redemption price per share† | $ | 16.47 | $ | 36.93 | $ | 14.06 | |||||||||
Class I | |||||||||||||||
Net assets | $ | 724,963,296 | $ | 96,831,771 | $ | 33,278,087 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | 0.01 | |||||||||
Shares outstanding | 42,943,480 | 2,155,854 | 2,298,126 | ||||||||||||
Net asset value and redemption price per share | $ | 16.88 | $ | 44.92 | $ | 14.48 | |||||||||
Class O | |||||||||||||||
Net assets | $ | 34,471,633 | $ | n/a | $ | 4,811,937 | |||||||||
Shares authorized | unlimited | n/a | unlimited | ||||||||||||
Par value | $ | 0.01 | $ | n/a | $ | 0.01 | |||||||||
Shares outstanding | 2,193,447 | n/a | 337,935 | ||||||||||||
Net asset value and redemption price per share | $ | 15.72 | $ | n/a | $ | 14.24 | |||||||||
Class R | |||||||||||||||
Net assets | $ | 247,273 | $ | 25,778 | $ | n/a | |||||||||
Shares authorized | unlimited | unlimited | n/a | ||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | n/a | |||||||||
Shares outstanding | 15,736 | 605 | n/a | ||||||||||||
Net asset value and redemption price per share | $ | 15.71 | $ | 42.59 | $ | n/a | |||||||||
Class W | |||||||||||||||
Net assets | $ | 139,813,174 | $ | 7,931,013 | $ | 14,039,685 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | 0.01 | $ | 0.01 | $ | 0.01 | |||||||||
Shares outstanding | 7,379,337 | 177,914 | 895,224 | ||||||||||||
Net asset value and redemption price per share | $ | 18.95 | $ | 44.58 | $ | 15.68 | |||||||||
(1) Maximum offering price is computed at 100/94.25 of net asset value. On purchases of $100,000 or more, the offering price is reduced. | |||||||||||||||
† Redemption price per share may be reduced for any applicable contingent deferred sales charges. |
ING Growth Opportunities Fund | ING Large Cap Value Fund | ING Mid Cap Value Fund | ING MidCap Opportunities Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 543,322 | $ | 3,919,979 | $ | 2,600,614 | $ | 5,076,641 | ||||||||||
Interest | — | 36 | 184 | — | ||||||||||||||
Securities lending income, net | — | — | 34,006 | 21,929 | ||||||||||||||
Total investment income | 543,322 | 3,920,015 | 2,634,804 | 5,098,570 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | 356,746 | 901,754 | 852,699 | 3,090,863 | ||||||||||||||
Distribution and service fees: | ||||||||||||||||||
Class A | 98,246 | 50,207 | — | 390,031 | ||||||||||||||
Class B | 12,655 | 2,682 | — | 29,683 | ||||||||||||||
Class C | 86,905 | 67,929 | — | 456,099 | ||||||||||||||
Class O | — | — | — | 52,752 | ||||||||||||||
Class R | — | 1,487 | — | 83 | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 35,575 | 14,957 | — | 270,023 | ||||||||||||||
Class B | 1,668 | 199 | — | 5,144 | ||||||||||||||
Class C | 11,090 | 5,058 | — | 78,971 | ||||||||||||||
Class I | 464 | 7,537 | 1,573 | 97,109 | ||||||||||||||
Class O | — | — | — | 36,544 | ||||||||||||||
Class R | — | 222 | — | 28 | ||||||||||||||
Class W | 1,000 | 6,727 | — | 55,373 | ||||||||||||||
Administrative service fees | 47,565 | 138,730 | 121,813 | 412,110 | ||||||||||||||
Shareholder reporting expense | 8,877 | 9,104 | 5,201 | 64,337 | ||||||||||||||
Registration fees | 36,879 | 55,358 | — | 92,646 | ||||||||||||||
Professional fees | 13,818 | 18,677 | 17,274 | 36,877 | ||||||||||||||
Custody and accounting expense | 14,964 | 18,844 | 61,941 | 35,939 | ||||||||||||||
Trustee fees | 2,846 | 8,301 | 7,289 | 24,659 | ||||||||||||||
Offering expense | — | — | 9,499 | — | ||||||||||||||
Miscellaneous expense | 3,142 | 4,027 | 4,076 | 26,098 | ||||||||||||||
Interest expense | 127 | 111 | — | 96 | ||||||||||||||
Total expenses | 732,567 | 1,311,911 | 1,081,365 | 5,255,465 | ||||||||||||||
Net recouped/waived and reimbursed fees | (58,743 | ) | (51,370 | ) | 8,693 | (126,519 | ) | |||||||||||
Brokerage commission recapture | — | — | (31,528 | ) | — | |||||||||||||
Net expenses | 673,824 | 1,260,541 | 1,058,530 | 5,128,946 | ||||||||||||||
Net investment income (loss) | (130,502 | ) | 2,659,474 | 1,576,274 | (30,376 | ) | ||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | 2,366,645 | 5,439,005 | 8,129,227 | (7,277,050 | ) | |||||||||||||
Foreign currency related transactions | — | — | (2,777 | ) | — | |||||||||||||
Futures | — | 576,779 | — | — | ||||||||||||||
Net realized gain (loss) | 2,366,645 | 6,015,784 | 8,126,450 | (7,277,050 | ) | |||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | 4,053,653 | 19,573,170 | 13,260,815 | 43,003,206 | ||||||||||||||
Foreign currency related transactions | — | — | 353 | 22 | ||||||||||||||
Net change in unrealized appreciation (depreciation) | 4,053,653 | 19,573,170 | 13,261,168 | 43,003,228 | ||||||||||||||
Net realized and unrealized gain | 6,420,298 | 25,588,954 | 21,387,618 | 35,726,178 | ||||||||||||||
Increase in net assets resulting from operations | $ | 6,289,796 | $ | 28,248,428 | $ | 22,963,892 | $ | 35,695,802 | ||||||||||
* Foreign taxes withheld | $ | — | $ | 25,265 | $ | 6,134 | $ | — |
ING Real Estate Fund | ING SmallCap Opportunities Fund | ING Value Choice Fund | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 10,548,789 | $ | 821,595 | $ | 3,823,567 | ||||||||
Interest | — | — | 176,031 | |||||||||||
Securities lending income, net | — | 25,403 | 132,492 | |||||||||||
Total investment income | 10,548,789 | 846,998 | 4,132,090 | |||||||||||
EXPENSES: | ||||||||||||||
Investment management fees | 3,803,822 | 857,489 | 1,790,320 | |||||||||||
Distribution and service fees: | ||||||||||||||
Class A | 238,691 | 86,477 | 267,536 | |||||||||||
Class B | 5,214 | 6,651 | 42,739 | |||||||||||
Class C | 100,430 | 110,477 | 478,295 | |||||||||||
Class O | 44,572 | — | 6,387 | |||||||||||
Class R | 445 | 15 | — | |||||||||||
Transfer agent fees: | ||||||||||||||
Class A | 127,953 | 72,141 | 305,199 | |||||||||||
Class B | 696 | 1,399 | 12,237 | |||||||||||
Class C | 13,486 | 23,107 | 136,806 | |||||||||||
Class I | 77,505 | 103,413 | 51,931 | |||||||||||
Class O | 23,806 | — | 7,333 | |||||||||||
Class R | 119 | 6 | — | |||||||||||
Class W | 85,820 | 5,800 | 35,213 | |||||||||||
Administrative service fees | 543,397 | 95,276 | 198,923 | |||||||||||
Shareholder reporting expense | 33,901 | 7,279 | 20,623 | |||||||||||
Registration fees | 76,175 | 47,376 | 56,064 | |||||||||||
Professional fees | 59,343 | 12,589 | 41,756 | |||||||||||
Custody and accounting expense | 41,345 | 20,106 | 90,672 | |||||||||||
Trustee fees | 32,515 | 5,701 | 11,903 | |||||||||||
Miscellaneous expense | 22,183 | 6,124 | 39,710 | |||||||||||
Interest expense | — | — | 2,192 | |||||||||||
Total expenses | 5,331,418 | 1,461,426 | 3,595,839 | |||||||||||
Net waived and reimbursed fees | — | (135,531 | ) | (516,431 | ) | |||||||||
Brokerage commission recapture | — | — | (138,566 | ) | ||||||||||
Net expenses | 5,331,418 | 1,325,895 | 2,940,842 | |||||||||||
Net investment income (loss) | 5,217,371 | (478,897 | ) | 1,191,248 | ||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||
Net realized gain (loss) on: | ||||||||||||||
Investments | 8,590,987 | 4,564,293 | (38,723,940 | ) | ||||||||||
Net realized gain (loss) | 8,590,987 | 4,564,293 | (38,723,940 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||
Investments | 13,899,908 | 7,830,180 | 71,681,942 | |||||||||||
Net change in unrealized appreciation (depreciation) | 13,899,908 | 7,830,180 | 71,681,942 | |||||||||||
Net realized and unrealized gain | 22,490,895 | 12,394,473 | 32,958,002 | |||||||||||
Increase in net assets resulting from operations | $ | 27,708,266 | $ | 11,915,576 | $ | 34,149,250 | ||||||||
* Foreign taxes withheld | $ | — | $ | 402 | $ | 170,820 |
ING Growth Opportunities Fund | ING Large Cap Value Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended November 30, 2012 | Year Ended May 31, 2012 | Six Months Ended November 30, 2012 | Year Ended May 31, 2012 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | (130,502 | ) | $ | (26,777 | ) | $ | 2,659,474 | $ | 4,572,997 | |||||||||
Net realized gain | 2,366,645 | 12,204,285 | 6,015,784 | 6,638,805 | |||||||||||||||
Net change in unrealized appreciation (depreciation) | 4,053,653 | (4,784,214 | ) | 19,573,170 | (7,587,724 | ) | |||||||||||||
Increase in net assets resulting from operations | 6,289,796 | 7,393,294 | 28,248,428 | 3,624,078 | |||||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | — | (34,361 | ) | (378,310 | ) | (430,737 | ) | ||||||||||||
Class B | — | — | (2,869 | ) | (6,947 | ) | |||||||||||||
Class C | — | — | (82,861 | ) | (105,171 | ) | |||||||||||||
Class I | — | (82,635 | ) | (1,948,413 | ) | (3,474,973 | ) | ||||||||||||
Class R | — | — | (4,061 | ) | (50 | ) | |||||||||||||
Class W | — | (971 | ) | (152,178 | ) | (68,842 | ) | ||||||||||||
Net realized gains: | |||||||||||||||||||
Class A | — | — | — | (369,248 | ) | ||||||||||||||
Class B | — | — | — | (8,187 | ) | ||||||||||||||
Class C | — | — | — | (118,271 | ) | ||||||||||||||
Class I | — | — | — | (2,662,438 | ) | ||||||||||||||
Class R | — | — | — | (56 | ) | ||||||||||||||
Class W | — | — | — | (59,191 | ) | ||||||||||||||
Total distributions | — | (117,967 | ) | (2,568,692 | ) | (7,304,111 | ) | ||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 41,145,611 | 50,486,537 | 218,754,392 | 163,102,589 | |||||||||||||||
Reinvestment of distributions | — | 111,100 | 2,483,610 | 7,134,517 | |||||||||||||||
41,145,611 | 50,597,637 | 221,238,002 | 170,237,106 | ||||||||||||||||
Cost of shares redeemed | (26,551,810 | ) | (55,612,831 | ) | (39,578,089 | ) | (55,834,728 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | 14,593,801 | (5,015,194 | ) | 181,659,913 | 114,402,378 | ||||||||||||||
Net increase in net assets | 20,883,597 | 2,260,133 | 207,339,649 | 110,722,345 | |||||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 78,239,788 | 75,979,655 | 228,685,932 | 117,963,587 | |||||||||||||||
End of year or period | $ | 99,123,385 | $ | 78,239,788 | $ | 436,025,581 | $ | 228,685,932 | |||||||||||
Undistributed net investment income/Accumulated net investment loss at end of year or period | $ | (122,518 | ) | $ | 7,984 | $ | 1,080,078 | $ | 989,296 |
ING Mid Cap Value Fund | ING MidCap Opportunities Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended November 30, 2012 | October 3, 2011(1) to May 31, 2012 | Six Months Ended November 30, 2012 | Year Ended May 31, 2012 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | 1,576,274 | $ | 975,517 | $ | (30,376 | ) | $ | (793,202 | ) | |||||||||
Net realized gain (loss) | 8,126,450 | 24,923,616 | (7,277,050 | ) | 33,776,850 | ||||||||||||||
Net change in unrealized appreciation (depreciation) | 13,261,168 | 5,802,446 | 43,003,228 | (69,027,772 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from operations | 22,963,892 | 31,701,579 | 35,695,802 | (36,044,124 | ) | ||||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income | — | (409,627 | ) | — | (29,073 | ) | |||||||||||||
Net realized gains | — | (3,388,978 | ) | — | (17,704,459 | ) | |||||||||||||
Total distributions | — | (3,798,605 | ) | — | (17,733,532 | ) | |||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 41,485,093 | 232,133,811 | 231,250,180 | 447,247,317 | |||||||||||||||
Payment from distribution/payment by affiliate | — | — | — | 111,635 | |||||||||||||||
Reinvestment of distributions | — | 3,798,605 | — | 12,504,404 | |||||||||||||||
41,485,093 | 235,932,416 | 231,250,180 | 459,863,356 | ||||||||||||||||
Cost of shares redeemed | (26,926,466 | ) | (35,955,506 | ) | (104,984,715 | ) | (236,126,636 | ) | |||||||||||
Net increase in net assets resulting from capital share transactions | 14,558,627 | 199,976,910 | 126,265,465 | 223,736,720 | |||||||||||||||
Net increase in net assets | 37,522,519 | 227,879,884 | 161,961,267 | 169,959,064 | |||||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 227,879,884 | — | 749,203,314 | 579,244,250 | |||||||||||||||
End of year or period | $ | 265,402,403 | $ | 227,879,884 | $ | 911,164,581 | $ | 749,203,314 | |||||||||||
Undistributed (distributions in excess of) net investment income/Accumulated net investment loss at end of year or period | $ | 2,109,987 | $ | 533,713 | $ | (35,559 | ) | $ | (5,183 | ) | |||||||||
(1) Commencement of operations. |
ING Real Estate Fund | ING SmallCap Opportunities Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended November 30, 2012 | Year Ended May 31, 2012 | Six Months Ended November 30, 2012 | Year Ended May 31, 2012 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | 5,217,371 | $ | 8,981,594 | $ | (478,897 | ) | $ | (1,151,140 | ) | |||||||||
Net realized gain | 8,590,987 | 22,082,160 | 4,564,293 | 19,078,331 | |||||||||||||||
Net change in unrealized appreciation (depreciation) | 13,899,908 | 2,003,570 | 7,830,180 | (20,632,717 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from operations | 27,708,266 | 33,067,324 | 11,915,576 | (2,705,526 | ) | ||||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (1,775,117 | ) | (3,256,930 | ) | — | — | |||||||||||||
Class B | (5,869 | ) | (14,869 | ) | — | — | |||||||||||||
Class C | (111,352 | ) | (191,391 | ) | — | — | |||||||||||||
Class I | (7,367,486 | ) | (12,170,551 | ) | — | — | |||||||||||||
Class O | (333,930 | ) | (686,360 | ) | — | — | |||||||||||||
Class R | (1,446 | ) | (248 | ) | — | — | |||||||||||||
Class W | (1,138,038 | ) | (1,473,082 | ) | — | — | |||||||||||||
Total distributions | (10,733,238 | ) | (17,793,431 | ) | — | — | |||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 240,812,985 | 399,400,013 | 33,856,241 | 90,497,848 | |||||||||||||||
Payment from distribution/payment by affiliate | — | — | — | 353,112 | |||||||||||||||
Reinvestment of distributions | 5,749,987 | 8,372,114 | — | — | |||||||||||||||
246,562,972 | 407,772,127 | 33,856,241 | 90,850,960 | ||||||||||||||||
Cost of shares redeemed | (132,663,398 | ) | (228,451,177 | ) | (22,666,975 | ) | (51,503,584 | ) | |||||||||||
Net increase in net assets resulting from capital share transactions | 113,899,574 | 179,320,950 | 11,189,266 | 39,347,376 | |||||||||||||||
Net increase in net assets | 130,874,602 | 194,594,843 | 23,104,842 | 36,641,850 | |||||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 984,374,553 | 789,779,710 | 175,883,532 | 139,241,682 | |||||||||||||||
End of year or period | $ | 1,115,249,155 | $ | 984,374,553 | $ | 198,988,374 | $ | 175,883,532 | |||||||||||
Distributions in excess of net investment income/Accumulated net investment loss at end of year or period | $ | (7,358,445 | ) | $ | (1,842,578 | ) | $ | (481,128 | ) | $ | (2,231 | ) |
ING Value Choice Fund | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended November 30, 2012 | Year Ended May 31, 2012 | ||||||||||
FROM OPERATIONS: | |||||||||||
Net investment income | $ | 1,191,248 | $ | 6,715,877 | |||||||
Net realized gain (loss) | (38,723,940 | ) | 14,187,243 | ||||||||
Net change in unrealized appreciation (depreciation) | 71,681,942 | (170,729,101 | ) | ||||||||
Increase (decrease) in net assets resulting from operations | 34,149,250 | (149,825,981 | ) | ||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||
Net investment income: | |||||||||||
Class A | — | (3,555,499 | ) | ||||||||
Class C | — | (135,720 | ) | ||||||||
Class I | — | (1,278,903 | ) | ||||||||
Class O | — | (57,448 | ) | ||||||||
Class W | — | (601,698 | ) | ||||||||
Net realized gains: | |||||||||||
Class A | — | (42,256,561 | ) | ||||||||
Class B | — | (1,409,474 | ) | ||||||||
Class C | — | (17,596,476 | ) | ||||||||
Class I | — | (10,856,829 | ) | ||||||||
Class O | — | (628,487 | ) | ||||||||
Class W | — | (5,186,507 | ) | ||||||||
Total distributions | — | (83,563,602 | ) | ||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||
Net proceeds from sale of shares | 15,311,392 | 175,382,068 | |||||||||
Reinvestment of distributions | — | 67,150,853 | |||||||||
15,311,392 | 242,532,921 | ||||||||||
Cost of shares redeemed | (266,483,216 | ) | (537,692,616 | ) | |||||||
Net decrease in net assets resulting from capital share transactions | (251,171,824 | ) | (295,159,695 | ) | |||||||
Net decrease in net assets | (217,022,574 | ) | (528,549,278 | ) | |||||||
NET ASSETS: | |||||||||||
Beginning of year or period | 510,343,386 | 1,038,892,664 | |||||||||
End of year or period | $ | 293,320,812 | $ | 510,343,386 | |||||||
Undistributed net investment income at end of year or period | $ | 2,012,721 | $ | 821,473 |
Income (loss) from investment operations | Less distributions | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payment by affiliate | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2)(3) | | Expenses net of fee waivers and/or recoupments if any (2)(3) | | Expense net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||
ING Growth Opportunities Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 23.92 | (0.03 | ) | 1.91 | 1.88 | — | — | — | — | — | 25.80 | 7.86 | 1.50 | 1.35 | 1.35 | (0.22 | ) | 54,523 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 23.21 | 0.00 | * | 0.73 | 0.73 | 0.02 | — | — | 0.02 | — | 23.92 | 3.15 | 1.67 | 1.35 | 1.35 | 0.02 | 48,045 | 151 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 17.47 | 0.07 | 5.67 | 5.74 | — | — | — | — | — | 23.21 | 32.86 | 1.68 | 1.35 | † | 1.35 | † | 0.35 | † | 44,528 | 90 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 14.08 | (0.05 | ) | 3.44 | 3.39 | — | — | — | — | — | 17.47 | 24.08 | 1.68 | 1.35 | † | 1.35 | † | (0.26 | )† | 37,356 | 143 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 22.32 | (0.04 | ) | (8.20 | ) | (8.24 | ) | — | — | — | — | — | 14.08 | (36.92 | ) | 1.74 | 1.43 | † | 1.42 | † | (0.20 | )† | 35,676 | 166 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 21.63 | 0.03 | 0.66 | 0.69 | — | — | — | — | — | 22.32 | 3.19 | 1.56 | 1.45 | 1.45 | 0.14 | 70,047 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 22.17 | (0.10 | )• | 1.77 | 1.67 | — | — | — | — | — | 23.84 | 7.53 | 2.15 | 2.00 | 2.00 | (0.88 | ) | 2,106 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 21.63 | (0.14 | )• | 0.68 | 0.54 | — | — | — | — | — | 22.17 | 2.50 | 2.32 | 2.00 | 2.00 | (0.66 | ) | 2,984 | 151 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 16.39 | (0.06 | )• | 5.30 | 5.24 | — | — | — | — | — | 21.63 | 31.97 | 2.33 | 2.00 | † | 2.00 | † | (0.30 | )† | 6,783 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 13.30 | (0.14 | )• | 3.23 | 3.09 | — | — | — | — | — | 16.39 | 23.23 | 2.33 | 2.00 | † | 2.00 | † | (0.92 | )† | 9,956 | 143 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 21.22 | (0.14 | )• | (7.78 | ) | (7.92 | ) | — | — | — | — | — | 13.30 | (37.32 | ) | 2.37 | 2.08 | † | 2.07 | † | (0.91 | )† | 14,383 | 166 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 20.70 | (0.11 | )• | 0.63 | 0.52 | — | — | — | — | — | 21.22 | 2.51 | 2.21 | 2.10 | 2.10 | (0.52 | ) | 41,957 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 22.10 | (0.10 | ) | 1.76 | 1.66 | — | — | — | — | — | 23.76 | 7.51 | 2.15 | 2.00 | 2.00 | (0.85 | ) | 17,905 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 21.57 | (0.13 | ) | 0.66 | 0.53 | — | — | — | — | — | 22.10 | 2.46 | 2.32 | 2.00 | 2.00 | (0.63 | ) | 16,049 | 151 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 16.34 | (0.06 | ) | 5.29 | 5.23 | — | — | — | — | — | 21.57 | 32.01 | 2.33 | 2.00 | † | 2.00 | † | (0.30 | )† | 16,850 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 13.26 | (0.14 | )• | 3.22 | 3.08 | — | — | — | — | — | 16.34 | 23.23 | 2.33 | 2.00 | † | 2.00 | † | (0.91 | )† | 14,777 | 143 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 21.15 | (0.14 | ) | (7.75 | ) | (7.89 | ) | — | — | — | — | — | 13.26 | (37.30 | ) | 2.39 | 2.08 | † | 2.07 | † | (0.85 | )† | 15,257 | 166 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 20.63 | (0.11 | ) | 0.63 | 0.52 | — | — | — | — | — | 21.15 | 2.52 | 2.21 | 2.10 | 2.10 | (0.51 | ) | 30,435 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 25.37 | 0.02 | 2.02 | 2.04 | — | — | — | — | — | 27.41 | 8.04 | 1.03 | 1.00 | 1.00 | 0.16 | 22,649 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 24.57 | 0.11 | • | 0.75 | 0.86 | 0.06 | — | — | 0.06 | — | 25.37 | 3.51 | 1.05 | 1.00 | 1.00 | 0.48 | 9,975 | 151 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 18.44 | 0.15 | 5.98 | 6.13 | — | — | — | — | — | 24.57 | 33.24 | 1.07 | 1.00 | † | 1.00 | † | 0.69 | † | 6,711 | 90 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 14.82 | 0.02 | 3.60 | 3.62 | — | — | — | — | — | 18.44 | 24.43 | 1.09 | 1.00 | † | 1.00 | † | 0.08 | † | 5,422 | 143 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 23.38 | 0.05 | (8.61 | ) | (8.56 | ) | — | — | — | — | — | 14.82 | (36.61 | ) | 1.19 | 0.98 | † | 0.97 | † | 0.29 | † | 11,349 | 166 | |||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 22.56 | 0.02 | • | 0.80 | 0.82 | — | — | — | — | — | 23.38 | 3.63 | 1.10 | 0.99 | 0.99 | 0.07 | 19,048 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 24.94 | 0.02 | 1.99 | 2.01 | — | — | — | — | — | 26.95 | 8.06 | 1.15 | 1.00 | 1.00 | 0.17 | 1,941 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 24.15 | 0.07 | 0.77 | 0.84 | 0.05 | — | — | 0.05 | — | 24.94 | 3.49 | 1.32 | 1.00 | 1.00 | 0.30 | 1,188 | 151 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 18.19 | 0.11 | 5.85 | 5.96 | — | — | — | — | — | 24.15 | 32.77 | 1.33 | 1.00 | † | 1.00 | † | 0.65 | † | 1,109 | 90 | ||||||||||||||||||||||||||||||||||||||||||||||||
11-23-09(4)–05-31-10 | 14.57 | 0.08 | 3.54 | 3.62 | — | — | — | — | — | 18.19 | 24.85 | 1.29 | 0.69 | † | 0.69 | † | 0.40 | † | 269 | 143 | ||||||||||||||||||||||||||||||||||||||||||||||||
ING Large Cap Value Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 9.88 | 0.08 | 0.93 | 1.01 | 0.10 | — | — | 0.10 | — | 10.79 | 10.28 | 1.16 | 1.13 | 1.13 | 1.65 | 44,710 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 10.44 | 0.23 | • | (0.41 | ) | (0.18 | ) | 0.21 | 0.17 | — | 0.38 | — | 9.88 | (1.53 | ) | 1.21 | 1.15 | 1.15 | 2.30 | 32,435 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 8.53 | 0.20 | 1.91 | 2.11 | 0.18 | 0.02 | — | 0.20 | — | 10.44 | 25.07 | 1.20 | 1.14 | † | 1.14 | † | 2.18 | † | 11,331 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 7.00 | 0.16 | 1.52 | 1.68 | 0.15 | — | — | 0.15 | — | 8.53 | 24.22 | 2.12 | 1.25 | † | 1.25 | † | 1.94 | † | 6,788 | 113 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 9.63 | 0.21 | (2.62 | ) | (2.41 | ) | 0.22 | — | — | 0.22 | — | 7.00 | (25.15 | ) | 4.09 | 1.25 | † | 1.25 | † | 3.08 | † | 5,580 | 108 | |||||||||||||||||||||||||||||||||||||||||||||
12-18-07(4)–05-31-08 | 10.00 | 0.11 | (0.40 | ) | (0.29 | ) | 0.08 | — | — | 0.08 | — | 9.63 | (2.94 | ) | 3.52 | 1.25 | † | 1.25 | † | 2.57 | † | 4,848 | 32 | |||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 9.83 | 0.06 | 0.92 | 0.98 | 0.06 | — | — | 0.06 | — | 10.75 | 9.97 | 1.91 | 1.88 | 1.88 | 0.90 | 536 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 10.40 | 0.16 | • | (0.41 | ) | (0.25 | ) | 0.15 | 0.17 | — | 0.32 | — | 9.83 | (2.27 | ) | 1.96 | 1.90 | 1.90 | 1.58 | 567 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 8.51 | 0.13 | 1.90 | 2.03 | 0.12 | 0.02 | — | 0.14 | — | 10.40 | 24.01 | 1.95 | 1.89 | † | 1.89 | † | 1.44 | † | 295 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 6.99 | 0.09 | 1.53 | 1.62 | 0.10 | — | — | 0.10 | — | 8.51 | 23.31 | 2.87 | 2.00 | † | 2.00 | † | 1.16 | † | 219 | 113 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 9.61 | 0.16 | • | (2.60 | ) | (2.44 | ) | 0.18 | — | — | 0.18 | — | 6.99 | (25.54 | ) | 4.84 | 2.00 | † | 2.00 | † | 2.47 | † | 98 | 108 | ||||||||||||||||||||||||||||||||||||||||||||
02-20-08(4)–05-31-08 | 9.37 | 0.07 | 0.23 | 0.30 | 0.06 | — | — | 0.06 | — | 9.61 | 3.21 | 4.27 | 2.00 | † | 2.00 | † | 2.17 | † | 9 | 32 |
Income (loss) from investment operations | Less distributions | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payment by affiliate | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2)(3) | | Expenses net of fee waivers and/or recoupments if any (2)(3) | | Expense net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||
ING Large Cap Value Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 9.85 | 0.05 | 0.93 | 0.98 | 0.06 | — | — | 0.06 | — | 10.77 | 10.01 | 1.91 | 1.88 | 1.88 | 0.90 | 14,149 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 10.43 | 0.15 | • | (0.40 | ) | (0.25 | ) | 0.16 | 0.17 | — | 0.33 | — | 9.85 | (2.31 | ) | 1.96 | 1.90 | 1.90 | 1.55 | 12,095 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 8.54 | 0.11 | 1.92 | 2.03 | 0.12 | 0.02 | — | 0.14 | — | 10.43 | 23.98 | 1.95 | 1.89 | † | 1.89 | † | 1.40 | † | 3,697 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 7.01 | 0.10 | 1.53 | 1.63 | 0.10 | — | — | 0.10 | — | 8.54 | 23.32 | 2.87 | 2.00 | † | 2.00 | † | 1.19 | † | 1,201 | 113 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 9.62 | 0.14 | • | (2.57 | ) | (2.43 | ) | 0.18 | — | — | 0.18 | — | 7.01 | (25.33 | ) | 4.84 | 2.00 | † | 2.00 | † | 2.20 | † | 935 | 108 | ||||||||||||||||||||||||||||||||||||||||||||
02-19-08(4)–05-31-08 | 9.30 | 0.05 | • | 0.33 | 0.38 | 0.06 | — | — | 0.06 | — | 9.62 | 4.09 | 4.27 | 2.00 | † | 2.00 | † | 1.39 | † | 9 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 10.38 | 0.10 | 1.00 | 1.10 | 0.12 | — | — | 0.12 | — | 11.36 | 10.61 | 0.84 | 0.80 | 0.80 | 2.04 | 350,572 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 10.95 | 0.28 | • | (0.43 | ) | (0.15 | ) | 0.25 | 0.17 | — | 0.42 | — | 10.38 | (1.22 | ) | 0.87 | 0.80 | 0.80 | 2.69 | 177,157 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 8.95 | 0.23 | 2.00 | 2.23 | 0.21 | 0.02 | — | 0.23 | — | 10.95 | 25.22 | 0.88 | 0.82 | † | 0.82 | † | 2.51 | † | 102,577 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||
03-31-10(4)–05-31-10 | 9.46 | 0.04 | (0.51 | ) | (0.47 | ) | 0.04 | — | — | 0.04 | — | 8.95 | (4.99 | ) | 1.84 | 0.97 | † | 0.97 | † | 2.18 | † | 44 | 113 | |||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 9.88 | 0.06 | 0.95 | 1.01 | 0.10 | — | — | 0.10 | — | 10.79 | 10.27 | 1.41 | 1.33 | 1.33 | 1.41 | 1,144 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–05-31-12 | 9.19 | 0.16 | • | 0.85 | 1.01 | 0.15 | 0.17 | — | 0.32 | — | 9.88 | 11.22 | 1.46 | 1.39 | 1.39 | 2.02 | 87 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 10.36 | 0.09 | 1.00 | 1.09 | 0.12 | — | — | 0.12 | — | 11.33 | 10.50 | 0.91 | 0.88 | 0.88 | 1.89 | 24,914 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 10.93 | 0.26 | • | (0.42 | ) | (0.16 | ) | 0.24 | 0.17 | — | 0.41 | — | 10.36 | (1.29 | ) | 0.96 | 0.90 | 0.90 | 2.53 | 6,345 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 8.93 | 0.19 | 2.04 | 2.23 | 0.21 | 0.02 | — | 0.23 | — | 10.93 | 25.25 | 0.95 | 0.89 | † | 0.89 | † | 2.37 | † | 64 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||
06-01-09(4)–05-31-10 | 7.50 | 0.17 | 1.43 | 1.60 | 0.17 | — | — | 0.17 | — | 8.93 | 21.48 | 1.84 | 0.97 | † | 0.97 | † | 2.20 | † | 4 | 113 | ||||||||||||||||||||||||||||||||||||||||||||||||
ING Mid Cap Value Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 12.30 | 0.08 | 1.17 | 1.25 | — | — | — | — | — | 13.55 | 10.16 | 0.89 | 0.90 | 0.87 | 1.29 | 265,402 | 45 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-03-11(4)–05-31-12 | 10.00 | 0.06 | 2.52 | 2.58 | 0.03 | 0.25 | — | 0.28 | — | 12.30 | 26.07 | 0.92 | 0.90 | 0.87 | 0.84 | 227,880 | 88 | |||||||||||||||||||||||||||||||||||||||||||||||||||
ING MidCap Opportunities Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 19.35 | (0.01 | ) | 0.89 | 0.88 | — | — | — | — | — | 20.23 | 4.55 | 1.34 | 1.33 | 1.33 | (0.11 | ) | 327,858 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 21.14 | (0.03 | ) | (1.17 | ) | (1.20 | ) | — | 0.59 | — | 0.59 | 0.00 | * | 19.35 | (5.43 | )(a) | 1.37 | 1.35 | 1.35 | (0.17 | ) | 292,698 | 89 | |||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 15.25 | 0.01 | 5.88 | 5.89 | — | — | — | — | — | 21.14 | 38.62 | 1.38 | 1.34 | † | 1.34 | † | 0.09 | † | 288,383 | 70 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.35 | (0.06 | )• | 3.90 | 3.84 | — | — | — | — | 0.06 | 15.25 | 34.36 | (b) | 1.55 | 1.35 | † | 1.35 | † | (0.40 | )† | 140,802 | 117 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 16.65 | (0.05 | )• | (5.13 | ) | (5.18 | ) | — | 0.12 | — | 0.12 | 0.00 | * | 11.35 | (31.05 | )(c) | 1.73 | 1.35 | † | 1.35 | † | (0.41 | )† | 112,412 | 201 | |||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 17.88 | (0.11 | )• | 1.38 | 1.27 | — | 2.50 | — | 2.50 | — | 16.65 | 7.41 | 1.75 | 1.29 | † | 1.29 | † | (0.66 | )† | 133,765 | 187 | |||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 17.24 | (0.08 | ) | 0.79 | 0.71 | — | — | — | — | — | 17.95 | 4.12 | 2.09 | 2.08 | 2.08 | (0.88 | ) | 5,582 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 19.05 | (0.16 | )• | (1.06 | ) | (1.22 | ) | — | 0.59 | — | 0.59 | 0.00 | * | 17.24 | (6.14 | )(a) | 2.12 | 2.10 | 2.10 | (0.93 | ) | 6,245 | 89 | |||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 13.84 | (0.10 | )• | 5.31 | 5.21 | — | — | — | — | — | 19.05 | 37.64 | 2.13 | 2.09 | † | 2.09 | † | (0.63 | )† | 9,999 | 70 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 10.38 | (0.15 | )• | 3.55 | 3.40 | — | — | — | — | 0.06 | 13.84 | 33.33 | (b) | 2.30 | 2.10 | † | 2.10 | † | (1.20 | )† | 13,644 | 117 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 15.36 | (0.14 | )• | (4.72 | ) | (4.86 | ) | — | 0.12 | — | 0.12 | 0.00 | * | 10.38 | (31.58 | )(c) | 2.43 | 2.10 | † | 2.10 | † | (1.23 | )† | 17,546 | 201 | |||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 16.79 | (0.23 | )• | 1.30 | 1.07 | — | 2.50 | — | 2.50 | — | 15.36 | 6.64 | 2.45 | 2.04 | † | 2.04 | † | (1.44 | )† | 53,959 | 187 | |||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 17.15 | (0.08 | ) | 0.78 | 0.70 | — | — | — | — | — | 17.85 | 4.08 | 2.09 | 2.08 | 2.08 | (0.87 | ) | 91,566 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 18.95 | (0.16 | )• | (1.05 | ) | (1.21 | ) | — | 0.59 | — | 0.59 | 0.00 | * | 17.15 | (6.11 | )(a) | 2.12 | 2.10 | 2.10 | (0.92 | ) | 87,941 | 89 | |||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 13.76 | (0.09 | ) | 5.28 | 5.19 | — | — | — | — | — | 18.95 | 37.72 | 2.13 | 2.09 | † | 2.09 | † | (0.65 | )† | 84,997 | 70 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 10.33 | (0.14 | )• | 3.51 | 3.37 | — | — | — | — | 0.06 | 13.76 | 33.20 | (b) | 2.30 | 2.10 | † | 2.10 | † | (1.16 | )† | 53,098 | 117 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 15.27 | (0.14 | ) | (4.68 | ) | (4.82 | ) | — | 0.12 | — | 0.12 | 0.00 | * | 10.33 | (31.50 | )(c) | 2.43 | 2.10 | † | 2.10 | † | (1.19 | )† | 43,922 | 201 | |||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 16.71 | (0.23 | ) | 1.29 | 1.06 | — | 2.50 | — | 2.50 | — | 15.27 | 6.62 | 2.45 | 2.04 | † | 2.04 | † | (1.42 | )† | 72,012 | 187 |
Income (loss) from investment operations | Less distributions | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payment by affiliate | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2)(3) | | Expenses net of fee waivers and/or recoupments if any (2)(3) | | Expense net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||
ING MidCap Opportunities Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 20.65 | 0.03 | 0.95 | 0.98 | — | — | — | — | — | 21.63 | 4.75 | 0.98 | 0.91 | 0.91 | 0.35 | 373,288 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 22.42 | 0.06 | • | (1.24 | ) | (1.18 | ) | 0.00 | * | 0.59 | — | 0.59 | 0.00 | * | 20.65 | (5.01 | )(a) | 1.01 | 0.91 | 0.91 | 0.29 | 265,400 | 89 | |||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 16.09 | 0.11 | • | 6.22 | 6.33 | — | — | — | — | — | 22.42 | 39.34 | 0.96 | 0.90 | † | 0.90 | † | 0.54 | † | 123,898 | 70 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.94 | 0.01 | 4.07 | 4.08 | — | — | — | — | 0.07 | 16.09 | 34.76 | (b) | 1.20 | 1.00 | † | 1.00 | † | 0.05 | † | 25,803 | 117 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 17.42 | 0.02 | • | (5.38 | ) | (5.36 | ) | — | 0.12 | — | 0.12 | 0.00 | * | 11.94 | (30.71 | )(c) | 1.18 | 0.85 | † | 0.85 | † | 0.13 | † | 8,475 | 201 | |||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 18.51 | (0.03 | ) | 1.44 | 1.41 | — | 2.50 | — | 2.50 | — | 17.42 | 7.94 | 1.26 | 0.85 | † | 0.85 | † | (0.21 | )† | 6,608 | 187 | |||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 19.31 | (0.01 | ) | 0.88 | 0.87 | — | — | — | — | — | 20.18 | 4.51 | 1.34 | 1.33 | 1.33 | (0.12 | ) | 41,729 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 21.10 | (0.03 | ) | (1.17 | ) | (1.20 | ) | — | 0.59 | — | 0.59 | 0.00 | * | 19.31 | (5.44 | )(a) | 1.37 | 1.35 | 1.35 | (0.17 | ) | 41,517 | 89 | |||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 15.21 | 0.02 | 5.87 | 5.89 | — | — | — | — | — | 21.10 | 38.72 | 1.38 | 1.34 | † | 1.34 | † | 0.11 | † | 45,434 | 70 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.32 | (0.06 | ) | 3.89 | 3.83 | — | — | — | — | 0.06 | 15.21 | 34.36 | (b) | 1.55 | 1.35 | † | 1.35 | † | (0.41 | )† | 34,216 | 117 | ||||||||||||||||||||||||||||||||||||||||||||||
06-04-08(4)–05-31-09 | 16.47 | 0.00 | * | (5.03 | ) | (5.03 | ) | — | 0.12 | — | 0.12 | 0.00 | * | 11.32 | (30.48 | )(c) | 1.68 | 1.35 | † | 1.35 | † | 0.03 | † | 28,177 | 201 | |||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 19.31 | (0.00 | )* | 0.85 | 0.85 | — | — | — | — | — | 20.16 | 4.40 | 1.59 | 1.58 | 1.58 | (0.04 | ) | 86 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–05-31-12 | 17.95 | (0.07 | )• | 2.02 | 1.95 | — | 0.59 | — | 0.59 | 0.00 | * | 19.31 | 11.15 | (a) | 1.62 | 1.60 | 1.60 | (0.45 | ) | 14 | 89 | |||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 20.56 | 0.02 | 0.94 | 0.96 | — | — | — | — | — | 21.52 | 4.67 | 1.09 | 1.08 | 1.08 | 0.16 | 71,057 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 22.37 | 0.01 | (1.23 | ) | (1.22 | ) | 0.00 | * | 0.59 | — | 0.59 | 0.00 | * | 20.56 | (5.20 | )(a) | 1.12 | 1.10 | 1.10 | 0.08 | 55,387 | 89 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 16.09 | 0.05 | 6.23 | 6.28 | — | — | — | — | — | 22.37 | 39.03 | 1.13 | 1.09 | † | 1.09 | † | 0.34 | † | 26,533 | 70 | ||||||||||||||||||||||||||||||||||||||||||||||||
06-01-09(4)–05-31-10 | 12.38 | 0.01 | 3.63 | 3.64 | — | — | — | — | 0.07 | 16.09 | 29.97 | (b) | 1.23 | 1.03 | † | 1.03 | † | 0.16 | † | 5,392 | 117 | |||||||||||||||||||||||||||||||||||||||||||||||
ING Real Estate Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 15.45 | 0.07 | 0.37 | 0.44 | 0.15 | — | — | 0.15 | — | 15.74 | 2.84 | 1.23 | 1.23 | 1.23 | 0.72 | 193,699 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 15.23 | 0.14 | 0.39 | 0.53 | 0.31 | — | — | 0.31 | — | 15.45 | 3.66 | 1.20 | 1.20 | 1.20 | 0.88 | 177,041 | 36 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 11.91 | 0.09 | • | 3.50 | 3.59 | 0.27 | — | — | 0.27 | — | 15.23 | 30.67 | 1.21 | 1.22 | † | 1.22 | † | 0.71 | † | 152,777 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 7.63 | 0.20 | 4.42 | 4.62 | 0.22 | — | 0.12 | 0.34 | — | 11.91 | 61.88 | 1.25 | 1.25 | † | 1.25 | † | 2.03 | † | 114,792 | 51 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 14.89 | 0.26 | • | (7.14 | ) | (6.88 | ) | 0.24 | — | 0.14 | 0.38 | — | 7.63 | (46.62 | ) | 1.35 | 1.34 | † | 1.34 | † | 2.65 | † | 57,141 | 105 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 19.27 | 0.21 | • | (2.61 | ) | (2.40 | ) | 0.19 | 1.67 | 0.12 | 1.98 | — | 14.89 | (11.59 | ) | 1.36 | 1.33 | 1.33 | 1.34 | 105,808 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 15.51 | (0.01 | ) | 0.39 | 0.38 | 0.09 | — | — | 0.09 | — | 15.80 | 2.44 | 1.98 | 1.98 | 1.98 | (0.04 | ) | 995 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 15.28 | 0.02 | • | 0.40 | 0.42 | 0.19 | — | — | 0.19 | — | 15.51 | 2.87 | 1.95 | 1.95 | 1.95 | 0.11 | 1,007 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 11.94 | (0.01 | )• | 3.52 | 3.51 | 0.17 | — | — | 0.17 | — | 15.28 | 29.71 | 1.96 | 1.97 | † | 1.97 | † | (0.04 | )† | 1,404 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 7.65 | 0.13 | • | 4.44 | 4.57 | 0.16 | — | 0.12 | 0.28 | — | 11.94 | 60.83 | 2.00 | 2.00 | † | 2.00 | † | 1.32 | † | 1,665 | 51 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 14.93 | 0.17 | • | (7.16 | ) | (6.99 | ) | 0.15 | — | 0.14 | 0.29 | — | 7.65 | (47.07 | ) | 2.10 | 2.09 | † | 2.09 | † | 1.75 | † | 1,374 | 105 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 19.32 | 0.09 | • | (2.63 | ) | (2.54 | ) | 0.06 | 1.67 | 0.12 | 1.85 | — | 14.93 | (12.35 | ) | 2.11 | 2.08 | 2.08 | 0.59 | 3,285 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 16.16 | (0.00 | )*• | 0.40 | 0.40 | 0.09 | — | — | 0.09 | — | 16.47 | 2.48 | 1.98 | 1.98 | 1.98 | (0.04 | ) | 21,060 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 15.92 | 0.02 | • | 0.41 | 0.43 | 0.19 | — | — | 0.19 | — | 16.16 | 2.85 | 1.95 | 1.95 | 1.95 | 0.14 | 17,615 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 12.44 | (0.01 | )• | 3.67 | 3.66 | 0.18 | — | — | 0.18 | — | 15.92 | 29.72 | 1.96 | 1.97 | † | 1.97 | † | (0.07 | )† | 14,016 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 7.96 | 0.13 | • | 4.63 | 4.76 | 0.16 | — | 0.12 | 0.28 | — | 12.44 | 60.80 | 2.00 | 2.00 | † | 2.00 | † | 1.28 | † | 6,305 | 51 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 15.52 | 0.21 | • | (7.46 | ) | (7.25 | ) | 0.17 | — | 0.14 | 0.31 | — | 7.96 | (47.02 | ) | 2.10 | 2.09 | † | 2.09 | † | 2.32 | † | 3,955 | 105 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 19.99 | 0.10 | • | (2.73 | ) | (2.63 | ) | 0.05 | 1.67 | 0.12 | 1.84 | — | 15.52 | (12.37 | ) | 2.11 | 2.08 | 2.08 | 0.58 | 3,214 | 91 |
Income (loss) from investment operations | Less distributions | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payment by affiliate | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2)(3) | | Expenses net of fee waivers and/or recoupments if any (2)(3) | | Expense net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||
ING Real Estate Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 16.56 | 0.10 | 0.40 | 0.50 | 0.18 | — | — | 0.18 | — | 16.88 | 3.01 | 0.87 | 0.87 | 0.87 | 1.07 | 724,963 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 16.31 | 0.20 | 0.40 | 0.60 | 0.35 | — | — | 0.35 | — | 16.56 | 3.89 | 0.90 | 0.90 | 0.90 | 1.17 | 654,590 | 36 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 12.73 | 0.15 | • | 3.75 | 3.90 | 0.32 | — | — | 0.32 | — | 16.31 | 31.14 | 0.86 | 0.87 | † | 0.87 | † | 1.06 | † | 551,630 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 8.13 | 0.26 | 4.71 | 4.97 | 0.25 | — | 0.12 | 0.37 | — | 12.73 | 62.54 | 0.90 | 0.90 | † | 0.90 | † | 2.43 | † | 399,788 | 51 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 15.84 | 0.32 | • | (7.61 | ) | (7.29 | ) | 0.28 | — | 0.14 | 0.42 | — | 8.13 | (46.44 | ) | 0.92 | 0.91 | † | 0.91 | † | 3.25 | † | 316,925 | 105 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 20.35 | 0.25 | • | (2.73 | ) | (2.48 | ) | 0.24 | 1.67 | 0.12 | 2.03 | — | 15.84 | (11.35 | ) | 1.04 | 1.01 | 1.01 | 1.49 | 337,455 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 15.43 | 0.06 | 0.38 | 0.44 | 0.15 | — | — | 0.15 | — | 15.72 | 2.84 | 1.23 | 1.23 | 1.23 | 0.72 | 34,472 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 15.21 | 0.12 | 0.40 | 0.52 | 0.30 | — | — | 0.30 | — | 15.43 | 3.65 | 1.20 | 1.20 | 1.20 | 0.88 | 34,055 | 36 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 11.89 | 0.09 | 3.50 | 3.59 | 0.27 | — | — | 0.27 | — | 15.21 | 30.70 | 1.21 | 1.22 | † | 1.22 | † | 0.71 | † | 35,419 | 43 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 7.61 | 0.20 | 4.42 | 4.62 | 0.22 | — | 0.12 | 0.34 | — | 11.89 | 62.05 | 1.25 | 1.25 | † | 1.25 | † | 2.04 | † | 28,574 | 51 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 14.86 | 0.25 | (7.12 | ) | (6.87 | ) | 0.24 | — | 0.14 | 0.38 | — | 7.61 | (46.66 | ) | 1.35 | 1.34 | † | 1.34 | † | 2.54 | † | 17,709 | 105 | |||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 19.24 | 0.21 | • | (2.61 | ) | (2.40 | ) | 0.19 | 1.67 | 0.12 | 1.98 | — | 14.86 | (11.64 | ) | 1.35 | 1.32 | 1.32 | 1.36 | 35,182 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 15.43 | 0.03 | • | 0.39 | 0.42 | 0.14 | — | — | 0.14 | — | 15.71 | 2.70 | 1.48 | 1.48 | 1.48 | 0.35 | 247 | 16 | ||||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–05-31-12 | 13.11 | 0.01 | • | 2.53 | 2.54 | 0.22 | — | — | 0.22 | — | 15.43 | 19.61 | 1.45 | 1.45 | 1.45 | 0.09 | 104 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 18.56 | 0.09 | • | 0.47 | 0.56 | 0.17 | — | — | 0.17 | — | 18.95 | 3.00 | 0.98 | 0.98 | 0.98 | 0.92 | 139,813 | 16 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 18.23 | 0.20 | • | 0.47 | 0.67 | 0.34 | — | — | 0.34 | — | 18.56 | 3.87 | 0.95 | 0.95 | 0.95 | 1.13 | 99,962 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 14.19 | 0.15 | • | 4.19 | 4.34 | 0.30 | — | — | 0.30 | — | 18.23 | 31.07 | 0.96 | 0.97 | † | 0.97 | † | 0.92 | † | 34,534 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 9.03 | 0.24 | 5.29 | 5.53 | 0.25 | — | 0.12 | 0.37 | — | 14.19 | 62.45 | 1.00 | 1.00 | † | 1.00 | † | 2.02 | † | 8,628 | 51 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 17.52 | 0.38 | • | (8.45 | ) | (8.07 | ) | 0.28 | — | 0.14 | 0.42 | — | 9.03 | (46.47 | ) | 0.92 | 0.91 | † | 0.91 | † | 3.97 | † | 826 | 105 | ||||||||||||||||||||||||||||||||||||||||||||
12-17-07(4)–05-31-08 | 15.96 | 0.10 | • | 1.74 | 1.84 | 0.17 | 0.06 | 0.05 | 0.28 | — | 17.52 | 11.65 | 1.04 | 1.01 | 1.01 | 1.34 | 69 | 91 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING SmallCap Opportunities Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 40.08 | (0.13 | ) | 2.81 | 2.68 | — | — | — | — | — | 42.76 | 6.69 | 1.56 | 1.50 | 1.50 | (0.61 | ) | 71,222 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 42.28 | (0.33 | ) | (1.95 | ) | (2.28 | ) | — | — | — | — | 0.08 | 40.08 | (5.20 | )(d) | 1.60 | 1.50 | 1.50 | (0.79 | ) | 65,652 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 31.17 | (0.28 | )• | 11.39 | 11.11 | — | — | — | — | — | 42.28 | 35.64 | 1.58 | 1.50 | † | 1.50 | † | (0.80 | )† | 81,526 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 22.81 | (0.20 | )• | 8.18 | 7.98 | — | — | — | — | 0.38 | 31.17 | 36.65 | (e) | 1.78 | 1.50 | † | 1.50 | † | (0.72 | )† | 73,545 | 114 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 34.07 | (0.16 | ) | (11.10 | ) | (11.26 | ) | — | — | — | — | — | 22.81 | (33.05 | ) | 1.96 | 1.50 | † | 1.50 | † | (0.60 | )† | 69,551 | 178 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 34.67 | (0.13 | ) | (0.47 | ) | (0.60 | ) | — | — | — | — | — | 34.07 | (1.73 | ) | 1.83 | 1.50 | † | 1.50 | † | (0.40 | )† | 84,888 | 112 | ||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 34.81 | (0.25 | )• | 2.44 | 2.19 | — | — | — | — | — | 37.00 | 6.29 | 2.31 | 2.25 | 2.25 | (1.39 | ) | 1,231 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 37.00 | (0.52 | )• | (1.74 | ) | (2.26 | ) | — | — | — | — | 0.07 | 34.81 | (5.92 | )(d) | 2.35 | 2.25 | 2.25 | (1.54 | ) | 1,420 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 27.48 | (0.48 | )• | 10.00 | 9.52 | — | — | — | — | — | 37.00 | 34.64 | 2.33 | 2.25 | † | 2.25 | † | (1.55 | )† | 2,577 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 20.27 | (0.41 | )• | 7.28 | 6.87 | — | — | — | — | 0.34 | 27.48 | 35.57 | (e) | 2.53 | 2.25 | † | 2.25 | † | (1.66 | )† | 3,434 | 114 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 30.50 | (0.31 | )• | (9.92 | ) | (10.23 | ) | — | — | — | — | — | 20.27 | (33.54 | ) | 2.66 | 2.25 | † | 2.25 | † | (1.38 | )† | 4,879 | 178 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 31.27 | (0.33 | )• | (0.44 | ) | (0.77 | ) | — | — | — | — | — | 30.50 | (2.46 | ) | 2.53 | 2.25 | † | 2.25 | † | (1.10 | )† | 12,750 | 112 | ||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 34.74 | (0.25 | )• | 2.44 | 2.19 | — | — | — | — | — | 36.93 | 6.30 | 2.31 | 2.25 | 2.25 | (1.37 | ) | 21,747 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 36.93 | (0.52 | )• | (1.74 | ) | (2.26 | ) | — | — | — | — | 0.07 | 34.74 | (5.93 | )(d) | 2.35 | 2.25 | 2.25 | (1.54 | ) | 21,337 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 27.43 | (0.48 | )• | 9.98 | 9.50 | — | — | — | — | — | 36.93 | 34.63 | 2.33 | 2.25 | † | 2.25 | † | (1.54 | )† | 25,210 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 20.22 | (0.36 | )• | 7.23 | 6.87 | — | — | — | — | 0.34 | 27.43 | 35.66 | (e) | 2.53 | 2.25 | † | 2.25 | † | (1.44 | )† | 20,356 | 114 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 30.43 | (0.33 | ) | (9.88 | ) | (10.21 | ) | — | — | — | — | — | 20.22 | (33.55 | ) | 2.66 | 2.25 | † | 2.25 | † | (1.35 | )† | 16,536 | 178 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 31.21 | (0.37 | ) | (0.41 | ) | (0.78 | ) | — | — | — | — | — | 30.43 | (2.50 | ) | 2.53 | 2.25 | † | 2.25 | † | (1.14 | )† | 28,896 | 112 |
Income (loss) from investment operations | Less distributions | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payment by affiliate | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2)(3) | | Expenses net of fee waivers and/or recoupments if any (2)(3) | | Expense net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||
ING SmallCap Opportunities Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 42.02 | (0.05 | ) | 2.95 | 2.90 | — | — | — | — | — | 44.92 | 6.90 | 1.33 | 1.10 | 1.10 | (0.21 | ) | 96,832 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 44.15 | (0.17 | )• | (2.04 | ) | (2.21 | ) | — | — | — | — | 0.08 | 42.02 | (4.82 | )(d) | 1.32 | 1.10 | 1.10 | (0.40 | ) | 83,733 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 32.40 | (0.13 | )• | 11.88 | 11.75 | — | — | — | — | — | 44.15 | 36.27 | 1.16 | 1.08 | † | 1.08 | † | (0.33 | )† | 28,813 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 23.59 | (0.04 | ) | 8.45 | 8.41 | — | — | — | — | 0.40 | 32.40 | 37.35 | (e) | 1.29 | 1.01 | † | 1.01 | † | (0.15 | )† | 7,423 | 114 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 35.05 | (0.03 | ) | (11.43 | ) | (11.46 | ) | — | — | — | — | — | 23.59 | (32.70 | ) | 1.42 | 1.01 | † | 1.01 | † | (0.10 | )† | 5,226 | 178 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 35.51 | 0.00 | * | (0.46 | ) | (0.46 | ) | — | — | — | — | — | 35.05 | (1.30 | ) | 1.34 | 1.06 | † | 1.06 | † | 0.00 | *† | 7,198 | 112 | ||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 39.97 | (0.08 | )• | 2.70 | 2.62 | — | �� | — | — | — | — | 42.59 | 6.55 | 1.81 | 1.75 | 1.75 | (0.40 | ) | 26 | 26 | ||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–05-31-12 | 35.38 | (0.33 | )• | 4.84 | 4.51 | — | — | — | — | 0.08 | 39.97 | 12.97 | (d) | 1.85 | 1.75 | 1.75 | (1.03 | ) | 3 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 41.73 | (0.07 | )• | 2.92 | 2.85 | — | — | — | — | — | 44.58 | 6.83 | 1.31 | 1.25 | 1.25 | (0.30 | ) | 7,931 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 43.91 | (0.22 | )• | (2.04 | ) | (2.26 | ) | — | — | — | — | 0.08 | 41.73 | (4.96 | )(d) | 1.35 | 1.25 | 1.25 | (0.53 | ) | 3,738 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 32.29 | (0.15 | ) | 11.77 | 11.62 | — | — | — | — | — | 43.91 | 35.99 | 1.33 | 1.25 | † | 1.25 | † | (0.51 | )† | 1,116 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 23.54 | (0.14 | )• | 8.49 | 8.35 | — | — | — | — | 0.40 | 32.29 | 37.17 | (e) | 1.40 | 1.12 | † | 1.12 | † | (0.50 | )† | 549 | 114 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 34.99 | 0.05 | • | (11.50 | ) | (11.45 | ) | — | — | — | — | — | 23.54 | (32.72 | ) | 1.42 | 1.01 | † | 1.01 | † | 0.24 | † | 530 | 178 | ||||||||||||||||||||||||||||||||||||||||||||
12-17-07(4)–05-31-08 | 33.51 | (0.06 | ) | 1.54 | 1.48 | — | — | — | — | — | 34.99 | 4.42 | 1.31 | 1.03 | † | 1.03 | † | (0.42 | )† | 1 | 112 | |||||||||||||||||||||||||||||||||||||||||||||||
ING Value Choice Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 13.27 | 0.05 | • | 1.02 | 1.07 | — | — | — | — | — | 14.34 | 8.06 | 1.67 | 1.40 | 1.33 | 0.75 | 158,366 | 118 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 18.16 | 0.15 | • | (3.34 | ) | (3.19 | ) | 0.13 | 1.57 | — | 1.70 | — | 13.27 | (18.41 | ) | 1.51 | 1.40 | 1.39 | 0.92 | 274,801 | 69 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 14.65 | 0.07 | • | 3.64 | 3.71 | 0.20 | — | — | 0.20 | — | 18.16 | 25.37 | 1.46 | 1.40 | † | 1.39 | † | 0.40 | † | 579,341 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.81 | 0.11 | 2.86 | 2.97 | 0.13 | — | — | 0.13 | — | 14.65 | 25.16 | 1.54 | 1.40 | † | 1.39 | † | 0.82 | † | 339,448 | 58 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 14.78 | 0.12 | (2.72 | ) | (2.60 | ) | 0.11 | 0.26 | — | 0.37 | 0.00 | * | 11.81 | (17.53 | )(c) | 1.66 | 1.40 | † | 1.39 | † | 1.15 | † | 249,120 | 71 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 16.01 | 0.08 | (0.30 | ) | (0.22 | ) | 0.05 | 0.96 | — | 1.01 | — | 14.78 | (1.32 | ) | 1.65 | 1.44 | 1.43 | 0.59 | 233,062 | 74 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 13.15 | 0.01 | 1.00 | 1.01 | — | — | — | — | — | 14.16 | 7.68 | 2.42 | 2.15 | 2.08 | 0.01 | 6,998 | 118 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 18.00 | 0.03 | • | (3.31 | ) | (3.28 | ) | — | 1.57 | — | 1.57 | — | 13.15 | (19.05 | ) | 2.26 | 2.15 | 2.14 | 0.18 | 9,714 | 69 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 14.50 | (0.07 | )• | 3.61 | 3.54 | 0.04 | — | — | 0.04 | — | 18.00 | 24.40 | 2.21 | 2.15 | † | 2.14 | † | (0.40 | )† | 20,632 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.70 | 0.01 | 2.83 | 2.84 | 0.04 | — | — | 0.04 | — | 14.50 | 24.24 | 2.29 | 2.15 | † | 2.14 | † | 0.06 | † | 26,706 | 58 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 14.60 | 0.04 | • | (2.68 | ) | (2.64 | ) | — | 0.26 | — | 0.26 | 0.00 | * | 11.70 | (18.14 | )(c) | 2.41 | 2.15 | † | 2.14 | † | 0.38 | † | 25,423 | 71 | |||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 15.89 | (0.03 | ) | (0.30 | ) | (0.33 | ) | — | 0.96 | — | 0.96 | — | 14.60 | (2.06 | ) | 2.40 | 2.19 | 2.18 | (0.19 | ) | 35,145 | 74 | ||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 13.05 | 0.01 | 1.00 | 1.01 | — | — | — | — | — | 14.06 | 7.74 | 2.42 | 2.15 | 2.08 | 0.01 | 75,827 | 118 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 17.90 | 0.03 | • | (3.30 | ) | (3.27 | ) | 0.01 | 1.57 | — | 1.58 | — | 13.05 | (19.10 | ) | 2.26 | 2.15 | 2.14 | 0.17 | 113,842 | 69 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 14.47 | (0.06 | )• | 3.60 | 3.54 | 0.11 | — | — | 0.11 | — | 17.90 | 24.48 | 2.21 | 2.15 | † | 2.14 | † | (0.35 | )† | 207,376 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.69 | 0.00 | * | 2.83 | 2.83 | 0.05 | — | — | 0.05 | — | 14.47 | 24.22 | 2.29 | 2.15 | † | 2.14 | † | 0.09 | † | 109,640 | 58 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 14.59 | 0.04 | (2.68 | ) | (2.64 | ) | — | 0.26 | — | 0.26 | 0.00 | * | 11.69 | (18.15 | )(c) | 2.41 | 2.15 | † | 2.14 | † | 0.40 | † | 71,049 | 71 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 15.88 | (0.03 | ) | (0.30 | ) | (0.33 | ) | — | 0.96 | — | 0.96 | — | 14.59 | (2.06 | ) | 2.40 | 2.19 | 2.18 | (0.18 | ) | 80,729 | 74 | ||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 13.38 | 0.07 | • | 1.03 | 1.10 | — | — | — | — | — | 14.48 | 8.22 | 1.34 | 1.15 | 1.08 | 0.98 | 33,278 | 118 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 18.32 | 0.19 | • | (3.38 | ) | (3.19 | ) | �� | 0.18 | 1.57 | — | 1.75 | — | 13.38 | (18.25 | ) | 1.23 | 1.15 | 1.14 | 1.14 | 66,842 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 14.77 | 0.12 | • | 3.66 | 3.78 | 0.23 | — | — | 0.23 | — | 18.32 | 25.72 | 1.14 | 1.14 | † | 1.13 | † | 0.70 | † | 160,783 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.90 | 0.14 | 2.89 | 3.03 | 0.16 | — | — | 0.16 | — | 14.77 | 25.49 | 1.15 | 1.15 | † | 1.14 | † | 1.18 | † | 35,653 | 58 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 14.91 | 0.16 | (2.75 | ) | (2.59 | ) | 0.16 | 0.26 | — | 0.42 | 0.00 | * | 11.90 | (17.28 | )(c) | 1.23 | 1.15 | † | 1.14 | † | 1.54 | † | 6,113 | 71 | ||||||||||||||||||||||||||||||||||||||||||||
05-31-08 | 16.12 | 0.18 | • | (0.35 | ) | (0.17 | ) | 0.08 | 0.96 | — | 1.04 | — | 14.91 | (1.03 | ) | 1.28 | 1.07 | 1.06 | 1.18 | 3,824 | 74 |
Income (loss) from investment operations | Less distributions | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payment by affiliate | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2)(3) | | Expenses net of fee waivers and/or recoupments if any (2)(3) | | Expense net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||
ING Value Choice Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 13.17 | 0.06 | 1.01 | 1.07 | — | — | — | — | — | 14.24 | 8.12 | 1.67 | 1.40 | 1.33 | 0.79 | 4,812 | 118 | |||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 18.07 | 0.16 | (3.35 | ) | (3.19 | ) | 0.14 | 1.57 | — | 1.71 | — | 13.17 | (18.50 | ) | 1.51 | 1.40 | 1.39 | 0.96 | 5,341 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 14.58 | 0.07 | • | 3.62 | 3.69 | 0.20 | — | — | 0.20 | — | 18.07 | 25.37 | 1.46 | 1.40 | † | 1.39 | † | 0.41 | † | 7,205 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 11.75 | 0.10 | 2.87 | 2.97 | 0.14 | — | — | 0.14 | — | 14.58 | 25.29 | 1.54 | 1.40 | † | 1.39 | † | 0.88 | † | 3,715 | 58 | ||||||||||||||||||||||||||||||||||||||||||||||||
06-04-08(4)–05-31-09 | 14.63 | 0.14 | • | (2.61 | ) | (2.47 | ) | 0.15 | 0.26 | — | 0.41 | 0.00 | * | 11.75 | (16.78 | )(c) | 1.66 | 1.40 | † | 1.39 | † | 1.49 | † | 1,388 | 71 | |||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-30-12 | 14.49 | 0.07 | • | 1.12 | 1.19 | — | — | — | — | — | 15.68 | 8.21 | 1.42 | 1.15 | 1.08 | 0.95 | 14,040 | 118 | ||||||||||||||||||||||||||||||||||||||||||||||||||
05-31-12 | 19.68 | 0.22 | (3.66 | ) | (3.44 | ) | 0.18 | 1.57 | — | 1.75 | — | 14.49 | (18.27 | ) | 1.26 | 1.15 | 1.14 | 1.19 | 39,803 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-11 | 15.86 | 0.09 | 3.96 | 4.05 | 0.23 | — | — | 0.23 | — | 19.68 | 25.63 | 1.21 | 1.15 | † | 1.14 | † | 0.65 | † | 63,556 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-10 | 12.76 | 0.13 | 3.13 | 3.26 | 0.16 | — | — | 0.16 | — | 15.86 | 25.56 | 1.23 | 1.15 | † | 1.14 | † | 1.10 | † | 35,876 | 58 | ||||||||||||||||||||||||||||||||||||||||||||||||
05-31-09 | 15.94 | 0.18 | • | (2.94 | ) | (2.76 | ) | 0.16 | 0.26 | — | 0.42 | 0.00 | * | 12.76 | (17.25 | )(c) | 1.23 | 1.15 | † | 1.14 | † | 1.58 | † | 15,750 | 71 | |||||||||||||||||||||||||||||||||||||||||||
12-17-07(4)–05-31-08 | 15.70 | 0.07 | 0.17 | 0.24 | — | — | — | — | — | 15.94 | 1.53 | 1.28 | 1.07 | 1.06 | 1.32 | 2,655 | 74 |
(1) | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and excluding the deduction of sales charges. Total return for periods less than one year is not annualized. |
(2) | Annualized for periods less than one year. |
(3) | Expense ratios reflect operating expenses of a Fund. Expenses before reductions/additions do not reflect amounts reimbursed by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by an Investment Adviser and/or Distributor but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Fund. Net investment income (loss) is net of all such additions or reductions. |
(4) | Commencement of operations. |
(a) | Excluding a payment from distribution settlement in the fiscal year ended May 31, 2012, MidCap Opportunities total return would have been (5.44)%, (6.16)%, (6.13)%, (5.02)%, (5.45)%, 11.13% and (5.22)% on Classes A, B, C, I, O, R and W, respectively. |
(b) | Excluding a payment from distribution settlement in the fiscal year ended May 31, 2010, MidCap Opportunities total return would have been 33.81%, 32.78%, 32.65%, 34.20%, 33.81% and 29.43% for Classes A, B, C, I, O and W, respectively. |
(c) | There was no impact on total return by the affiliate payment. |
(d) | Excluding a payment from distribution settlement in the fiscal year ended May 31, 2012, SmallCap Opportunities total return would have been (5.38)%, (6.08)%, (6.09)%, (5.01)%, 12.75% and (5.16)% on Classes A, B, C, I, R and W, respectively. |
(e) | Excluding a payment from distribution settlement in the fiscal year ended May 31, 2010, SmallCap Opportunities total return would have been 34.98%, 33.91%, 33.99%, 35.66% and 35.49% for Classes A, B, C, I and W, respectively. |
• | Calculated using average number of shares outstanding throughout the period. |
* | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
† | Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.005% impact on the expense ratio and net investment income or loss ratio. |
observable are classified as “Level 2” and unobservable inputs, including the sub-adviser’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality which are valued at amortized cost, which approximates fair value, are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing each Fund’s investments under these levels of classification is included following the Summary Portfolios of Investments.
(1) | Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at the end of the day. |
(2) | Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions. |
Statements of Assets and Liabilities for the estimated tax withholding based on the securities’ current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.
Annually | Quarterly | |||||
---|---|---|---|---|---|---|
Growth Opportunities | Large Cap Value | |||||
Mid Cap Value | Real Estate | |||||
MidCap Opportunities | ||||||
SmallCap Opportunities | ||||||
Value Choice |
during the reporting period. Actual results could differ from those estimates.
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Growth Opportunities | $ | 76,186,221 | $ | 62,585,817 | ||||||
Large Cap Value | 320,403,661 | 145,681,839 | ||||||||
Mid Cap Value | 126,161,156 | 106,997,789 | ||||||||
MidCap Opportunities | 484,157,919 | 352,471,017 | ||||||||
Real Estate | 285,887,677 | 172,507,475 | ||||||||
SmallCap Opportunities | 55,028,994 | 48,660,671 | ||||||||
Value Choice | 448,297,845 | 666,913,727 |
As a Percentage of Average Daily Net Assets | ||||||
---|---|---|---|---|---|---|
Growth Opportunities | 0.75% on first $500 million; 0.675% on next $500 million; and 0.65% in excess of $1 billion | |||||
Large Cap Value | 0.65% on all assets | |||||
Mid Cap Value | 0.70% | |||||
MidCap Opportunities | 0.75% | |||||
Real Estate | 0.70% | |||||
SmallCap Opportunities | 0.90% on first $250 million; 0.80% on next $250 million; and 0.75% in excess of $500 million | |||||
Value Choice | 0.90% |
Class A | Classes B and C | Class O | Class R | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Opportunities | 0.35 | % | 1.00 | % | N/A | N/A | ||||||||||||
Large Cap Value | 0.25 | % | 1.00 | % | N/A | 0.50 | %(1) | |||||||||||
MidCap Opportunities | 0.25 | % | 1.00 | % | 0.25 | % | 0.50 | % | ||||||||||
Real Estate | 0.25 | % | 1.00 | % | 0.25 | % | 0.50 | % | ||||||||||
SmallCap Opportunities | 0.25 | % | 1.00 | % | N/A | 0.50 | % | |||||||||||
Value Choice | 0.25 | % | 1.00 | % | 0.25 | % | N/A |
(1) | Effective March 1, 2012, the Distributor has agreed to waive 0.05% of the distribution fee through October 1, 2013. |
Class A | Class C | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Initial Sales Charges: | ||||||||||
Growth Opportunities | $ | 10,864 | $ | — | ||||||
Large Cap Value | 9,331 | — | ||||||||
MidCap Opportunities | 26,916 | — | ||||||||
Real Estate | 24,263 | — | ||||||||
SmallCap Opportunities | 5,516 | — | ||||||||
Value Choice | 7,236 | — | ||||||||
Contingent Deferred Sales Charges: | ||||||||||
Growth Opportunities | $ | 90,277 | $ | 336 | ||||||
Large Cap Value | — | 232 | ||||||||
MidCap Opportunities | — | 1,965 | ||||||||
Real Estate | 21 | 55 | ||||||||
SmallCap Opportunities | — | 297 | ||||||||
Value Choice | 1,249 | 2,507 |
Affiliated Investment Company/Subsidiary | Fund | Percentage | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
ING Capital Allocation Fund | Large Cap Value | 7.62 | % | |||||||
ING Life Insurance and Annuity Company | Real Estate | 9.19 | % | |||||||
ING National Trust | Real Estate | 6.18 | % | |||||||
ING Solution 2015 Portfolio | Large Cap Value | 6.75 | % | |||||||
Mid Cap Value | 12.54 | % | ||||||||
ING Solution 2025 Portfolio | Large Cap Value | 10.52 | % | |||||||
Mid Cap Value | 27.82 | % | ||||||||
ING Solution 2035 Portfolio | Large Cap Value | 13.91 | % | |||||||
Mid Cap Value | 23.99 | % | ||||||||
ING Solution 2045 Portfolio | Large Cap Value | 10.26 | % | |||||||
Mid Cap Value | 16.95 | % |
Fund | Accrued Expenses | Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Value Choice | Transfer Agent | $ | 334,835 |
Class A | Class B | Class C | Class I | Class O | Class R | Class W | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Opportunities | 1.40 | % | 2.05 | % | 2.05 | % | 1.05 | % | N/A | N/A | 1.05 | % | ||||||||||||||||||
Large Cap Value | 1.25 | % | 2.00 | % | 2.00 | % | 1.00 | % | N/A | 1.50 | % | 1.00 | % | |||||||||||||||||
Mid Cap Value | N/A | N/A | N/A | 0.90 | % | N/A | N/A | N/A | ||||||||||||||||||||||
MidCap Opportunities | 1.75 | % | 2.45 | % | 2.45 | % | 1.45 | % | 1.70 | % | 2.00 | % | 1.50 | % | ||||||||||||||||
Real Estate | 1.45 | % | 2.20 | % | 2.20 | % | 1.00 | % | 1.45 | % | 1.70 | % | 1.20 | % | ||||||||||||||||
Value Choice(1) | 1.40 | % | 2.15 | % | 2.15 | % | 1.15 | % | 1.40 | % | N/A | 1.15 | % |
(1) | Effective November 30, 2012, the Fund’s expense limits were revised to 1.25%, 2.00%, 2.00%, 0.80%, 1.25% and 1.00% for Class A, Class B, Class C, Class I, Class O and Class W, respectively. |
Class A | Class B | Class C | Class I | Class O | Class R | Class W | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Opportunities | 1.35 | % | 2.00 | % | 2.00 | % | 1.00 | % | N/A | N/A | 1.00 | % | ||||||||||||||||||
Large Cap Value | 1.25 | % | 2.00 | % | 2.00 | % | 0.80 | % | N/A | 1.50 | % | 1.00 | % | |||||||||||||||||
MidCap Opportunities(1) | 1.35 | % | 2.10 | % | 2.10 | % | 0.91 | % | 1.35 | % | 1.60 | % | 1.10 | % | ||||||||||||||||
SmallCap Opportunities(1) | 1.50 | % | 2.25 | % | 2.25 | % | 1.10 | % | N/A | 1.75 | % | 1.25 | % |
(1) | Any fees waived pursuant to the side agreement shall not be eligible for recoupment. |
November 30, | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | Total | ||||||||||||||||
Growth Opportunities | $ | 50,021 | $ | 18,904 | $ | 37,011 | $ | 105,936 | |||||||||||
Large Cap Value | 37,993 | 93,783 | 93,507 | 225,283 | |||||||||||||||
Mid Cap Value | — | 12,653 | 11,724 | 24,377 | |||||||||||||||
Value Choice | 2,171 | 18,737 | 1,040,279 | 1,061,187 |
November 30, | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | Total | ||||||||||||||||
Growth Opportunities | |||||||||||||||||||
Class A | $ | — | $ | 112,534 | $ | 100,844 | $ | 213,378 | |||||||||||
Class B | — | 16,965 | 6,523 | 23,488 | |||||||||||||||
Class C | — | 42,136 | 33,647 | 75,783 | |||||||||||||||
Class W | 1,138 | 2,394 | 2,077 | 5,609 | |||||||||||||||
Large Cap Value | |||||||||||||||||||
Class I | $ | 5 | $ | 1,909 | $ | 15,026 | $ | 16,940 | |||||||||||
Value Choice | |||||||||||||||||||
Class A | $ | — | $ | 162,618 | $ | 136,326 | $ | 298,944 | |||||||||||
Class B | — | 5,794 | 5,271 | 11,065 | |||||||||||||||
Class C | — | 60,883 | 62,824 | 123,707 | |||||||||||||||
Class O | — | 2,124 | 1,299 | 3,423 | |||||||||||||||
Class W | 42,744 | 19,952 | 18,171 | 80,867 |
Fund | Days Utilized | Approximate Average Daily Balance For Days Utilized | Approximate Weighted Average Interest Rate For Days Utilized | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Opportunities | 5 | $ | 811,000 | 1.14 | % | |||||||||
Large Cap Value | 2 | 1,770,000 | 1.14 | |||||||||||
MidCap Opportunities | 3 | 1,010,000 | 1.16 | |||||||||||
Value Choice | 16 | 4,310,938 | 1.16 |
Shares sold | Reinvestment of distributions | Shares redeemed | Net increase (decrease) in shares outstanding | Shares sold | Payment from distribution settlement | Reinvestment of distributions | Shares redeemed | Net increase (decrease) | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year or period ended | # | # | # | # | ($) | ($) | ($) | ($) | ($) | |||||||||||||||||||||||||||||
Growth Opportunities | ||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 939,905 | — | (835,483 | ) | 104,422 | 24,144,475 | — | — | (21,364,109 | ) | 2,780,366 | |||||||||||||||||||||||||||
5/31/2012 | 585,977 | 1,381 | (496,978 | ) | 90,380 | 13,605,478 | — | 29,259 | (11,377,181 | ) | 2,257,556 | |||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 2,317 | — | (48,569 | ) | (46,252 | ) | 53,344 | — | — | (1,122,243 | ) | (1,068,899 | ) | |||||||||||||||||||||||||
5/31/2012 | 8,190 | — | (187,136 | ) | (178,946 | ) | 174,211 | — | — | (3,900,731 | ) | (3,726,520 | ) | |||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 82,140 | — | (54,853 | ) | 27,287 | 1,916,613 | — | — | (1,285,096 | ) | 631,517 | |||||||||||||||||||||||||||
5/31/2012 | 88,438 | — | (143,503 | ) | (55,065 | ) | 1,912,743 | — | — | (3,012,128 | ) | (1,099,385 | ) | |||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 530,731 | — | (97,760 | ) | 432,971 | 14,288,514 | — | — | (2,666,486 | ) | 11,622,028 | |||||||||||||||||||||||||||
5/31/2012 | 1,528,835 | 3,619 | (1,412,322 | ) | 120,132 | 34,033,712 | — | 81,131 | (36,732,138 | ) | (2,617,295 | ) | ||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 28,644 | — | (4,266 | ) | 24,378 | 742,665 | — | — | (113,876 | ) | 628,789 | |||||||||||||||||||||||||||
5/31/2012 | 29,234 | 32 | (27,547 | ) | 1,719 | 760,393 | — | 710 | (590,653 | ) | 170,450 | |||||||||||||||||||||||||||
Large Cap Value | ||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 1,281,266 | 33,130 | (456,585 | ) | 857,811 | 13,486,232 | — | 350,300 | (4,876,289 | ) | 8,960,243 | |||||||||||||||||||||||||||
5/31/2012 | 2,821,330 | 76,099 | (698,781 | ) | 2,198,648 | 27,898,901 | — | 736,275 | (6,893,872 | ) | 21,741,304 | |||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 10,265 | 246 | (18,326 | ) | (7,815 | ) | 107,937 | — | 2,595 | (187,414 | ) | (76,882 | ) | |||||||||||||||||||||||||
5/31/2012 | 44,627 | 1,451 | (16,840 | ) | 29,238 | 416,779 | — | 13,771 | (166,694 | ) | 263,856 | |||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 247,728 | 6,514 | (167,741 | ) | 86,501 | 2,607,980 | — | 68,589 | (1,770,527 | ) | 906,042 | |||||||||||||||||||||||||||
5/31/2012 | 1,044,223 | 20,190 | (191,308 | ) | 873,105 | 10,364,246 | — | 194,171 | (1,871,497 | ) | 8,686,920 | |||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 16,497,936 | 171,989 | (2,865,983 | ) | 13,803,942 | 183,590,558 | — | 1,907,009 | (31,826,257 | ) | 153,671,310 | |||||||||||||||||||||||||||
5/31/2012 | 11,605,568 | 600,515 | (4,511,552 | ) | 7,694,531 | 118,143,425 | — | 6,062,267 | (46,751,481 | ) | 77,454,211 | |||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 106,843 | 378 | (9,957 | ) | 97,264 | 1,121,933 | — | 4,061 | (106,184 | ) | 1,019,810 | |||||||||||||||||||||||||||
8/5/2011(1)–5/31/2012 | 8,776 | — | — | 8,776 | 89,511 | — | — | — | 89,511 | |||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 1,645,349 | 13,455 | (72,126 | ) | 1,586,678 | 17,839,752 | — | 151,056 | (811,418 | ) | 17,179,390 | |||||||||||||||||||||||||||
5/31/2012 | 608,959 | 12,692 | (14,895 | ) | 606,756 | 6,189,727 | — | 128,033 | (151,184 | ) | 6,166,576 | |||||||||||||||||||||||||||
Mid Cap Value | ||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 3,125,405 | — | (2,061,918 | ) | 1,063,487 | 41,485,093 | — | — | (26,926,466 | ) | 14,558,627 | |||||||||||||||||||||||||||
10/3/2011(1)–5/31/2012 | 21,085,894 | 340,988 | (2,906,492 | ) | 18,520,390 | 232,133,811 | — | 3,798,605 | (35,955,506 | ) | 199,976,910 |
(1) | Commencement of operations. |
Shares sold | Reinvestment of distributions | Shares redeemed | Net increase (decrease) in shares outstanding | Shares sold | Payment from distribution settlement | Reinvestment of distributions | Shares redeemed | Net increase (decrease) | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year or period ended | # | # | # | # | ($) | ($) | ($) | ($) | ($) | |||||||||||||||||||||||||||||
MidCap Opportunities | ||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 3,239,543 | — | (2,152,403 | ) | 1,087,140 | 64,815,387 | — | — | (43,177,380 | ) | 21,638,007 | |||||||||||||||||||||||||||
5/31/2012 | 7,100,380 | 342,930 | (5,958,884 | ) | 1,484,426 | 137,318,104 | 47,027 | 6,042,434 | (111,915,727 | ) | 31,491,838 | |||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 10,211 | — | (61,486 | ) | (51,275 | ) | 180,535 | — | — | (1,084,691 | ) | (904,156 | ) | |||||||||||||||||||||||||
5/31/2012 | 21,187 | 12,348 | (196,099 | ) | (162,564 | ) | 364,520 | 1,387 | 194,480 | (3,405,775 | ) | (2,845,388 | ) | |||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 458,038 | — | (457,342 | ) | 696 | 8,075,250 | — | — | (8,084,931 | ) | (9,681 | ) | ||||||||||||||||||||||||||
5/31/2012 | 1,248,651 | 106,633 | (712,029 | ) | 643,255 | 21,782,754 | 15,178 | 1,669,879 | (12,118,331 | ) | 11,349,480 | |||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 6,498,471 | — | (2,090,073 | ) | 4,408,398 | 138,798,416 | — | — | (44,662,581 | ) | 94,135,835 | |||||||||||||||||||||||||||
5/31/2012 | 11,547,043 | 188,173 | (4,410,629 | ) | 7,324,587 | 238,409,140 | 32,997 | 3,530,125 | (90,522,917 | ) | 151,449,345 | |||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 85,245 | — | (167,334 | ) | (82,089 | ) | 1,696,259 | — | — | (3,342,420 | ) | (1,646,161 | ) | |||||||||||||||||||||||||
5/31/2012 | 347,557 | 2,844 | (353,854 | ) | (3,453 | ) | 6,570,254 | 7,708 | 50,005 | (6,811,880 | ) | (183,913 | ) | |||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 3,729 | — | (203 | ) | 3,526 | 75,671 | — | — | (4,111 | ) | 71,560 | |||||||||||||||||||||||||||
8/5/2011(1)–5/31/2012 | 720 | — | (1 | ) | 719 | 14,509 | 1 | — | (14 | ) | 14,496 | |||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 827,435 | — | (218,377 | ) | 609,058 | 17,608,662 | — | — | (4,628,601 | ) | 12,980,061 | |||||||||||||||||||||||||||
5/31/2012 | 2,034,716 | 54,411 | (581,871 | ) | 1,507,256 | 42,788,036 | 7,337 | 1,017,481 | (11,351,992 | ) | 32,460,862 | |||||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 3,098,849 | 99,624 | (2,350,595 | ) | 847,878 | 49,964,325 | — | 1,593,043 | (37,353,107 | ) | 14,204,261 | |||||||||||||||||||||||||||
5/31/2012 | 4,874,255 | 195,730 | (3,637,903 | ) | 1,432,082 | 71,047,602 | — | 2,768,372 | (52,221,621 | ) | 21,594,353 | |||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 7,113 | 317 | (9,368 | ) | (1,938 | ) | 114,920 | — | 5,081 | (150,248 | ) | (30,247 | ) | |||||||||||||||||||||||||
5/31/2012 | 6,179 | 925 | (34,024 | ) | (26,920 | ) | 90,152 | — | 13,027 | (494,486 | ) | (391,307 | ) | |||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 337,817 | 5,014 | (154,024 | ) | 188,807 | 5,702,189 | — | 83,655 | (2,582,147 | ) | 3,203,697 | |||||||||||||||||||||||||||
5/31/2012 | 491,497 | 9,853 | (291,617 | ) | 209,733 | 7,577,999 | — | 145,513 | (4,467,475 | ) | 3,256,037 | |||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 7,591,428 | 200,026 | (4,380,617 | ) | 3,410,837 | 130,568,048 | — | 3,432,482 | (75,512,751 | ) | 58,487,779 | |||||||||||||||||||||||||||
5/31/2012 | 14,824,860 | 292,976 | (9,415,774 | ) | 5,702,062 | 235,094,819 | — | 4,485,074 | (144,892,100 | ) | 94,687,793 | |||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 173,816 | 600 | (188,618 | ) | (14,202 | ) | 2,798,046 | — | 9,597 | (3,026,191 | ) | (218,548 | ) | |||||||||||||||||||||||||
5/31/2012 | 344,551 | 1,522 | (466,793 | ) | (120,720 | ) | 5,029,219 | — | 21,389 | (6,774,375 | ) | (1,723,767 | ) | |||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 12,104 | 91 | (3,190 | ) | 9,005 | 194,709 | — | 1,446 | (51,167 | ) | 144,988 | |||||||||||||||||||||||||||
8/5/2011(1)–5/31/2012 | 6,719 | 12 | — | 6,731 | 103,607 | — | 197 | — | 103,804 | |||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 2,682,022 | 32,451 | (720,811 | ) | 1,993,662 | 51,470,748 | — | 624,683 | (13,987,787 | ) | 38,107,644 | |||||||||||||||||||||||||||
5/31/2012 | 4,575,788 | 55,023 | (1,139,671 | ) | 3,491,140 | 80,456,615 | — | 938,542 | (19,601,120 | ) | 61,794,037 | |||||||||||||||||||||||||||
SmallCap Opportunities | ||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 179,900 | — | (152,312 | ) | 27,588 | 7,631,653 | — | — | (6,404,171 | ) | 1,227,482 | |||||||||||||||||||||||||||
5/31/2012 | 364,872 | — | (655,055 | ) | (290,183 | ) | 14,386,008 | 137,761 | — | (25,910,524 | ) | (11,386,755 | ) | |||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 217 | — | (7,727 | ) | (7,510 | ) | 7,973 | — | — | (278,359 | ) | (270,386 | ) | |||||||||||||||||||||||||
5/31/2012 | 125 | — | (28,996 | ) | (28,871 | ) | 4,458 | 3,678 | — | (1,002,260 | ) | (994,124 | ) | |||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 24,843 | — | (50,079 | ) | (25,236 | ) | 912,281 | — | — | (1,821,373 | ) | (909,092 | ) | |||||||||||||||||||||||||
5/31/2012 | 28,776 | — | (97,371 | ) | (68,595 | ) | 1,019,278 | 44,155 | — | (3,295,675 | ) | (2,232,242 | ) | |||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 462,842 | — | (299,863 | ) | 162,979 | 20,571,473 | — | — | (13,361,469 | ) | 7,210,004 | |||||||||||||||||||||||||||
5/31/2012 | 1,846,238 | — | (506,047 | ) | 1,340,191 | 71,639,842 | 165,286 | — | (20,648,690 | ) | 51,156,438 | |||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 520 | — | — | 520 | 21,706 | — | — | — | 21,706 | |||||||||||||||||||||||||||||
8/5/2011(1)–5/31/2012 | 85 | — | — | 85 | 3,000 | 7 | — | — | 3,007 |
(1) | Commencement of operations. |
Shares sold | Reinvestment of distributions | Shares redeemed | Net increase (decrease) in shares outstanding | Shares sold | Payment from distribution settlement | Reinvestment of distributions | Shares redeemed | Net increase (decrease) | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year or period ended | # | # | # | # | ($) | ($) | ($) | ($) | ($) | |||||||||||||||||||||||||||||
SmallCap Opportunities (continued) | ||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 106,569 | — | (18,241 | ) | 88,328 | 4,711,155 | — | — | (801,603 | ) | 3,909,552 | |||||||||||||||||||||||||||
5/31/2012 | 80,256 | — | (16,088 | ) | 64,168 | 3,445,262 | 2,225 | — | (646,435 | ) | 2,801,052 | |||||||||||||||||||||||||||
Value Choice | ||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 813,693 | — | (10,484,763 | ) | (9,671,070 | ) | 11,331,842 | — | — | (146,166,895 | ) | (134,835,053 | ) | |||||||||||||||||||||||||
5/31/2012 | 5,097,865 | 2,678,911 | (18,955,803 | ) | (11,179,027 | ) | 84,570,236 | — | 39,085,307 | (300,867,043 | ) | (177,211,500 | ) | |||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 660 | — | (245,130 | ) | (244,470 | ) | 8,857 | — | — | (3,405,589 | ) | (3,396,732 | ) | |||||||||||||||||||||||||
5/31/2012 | 14,667 | 83,758 | (505,621 | ) | (407,196 | ) | 234,161 | — | 1,215,323 | (8,050,086 | ) | (6,600,602 | ) | |||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 55,305 | — | (3,381,808 | ) | (3,326,503 | ) | 755,504 | — | — | (46,624,686 | ) | (45,869,182 | ) | |||||||||||||||||||||||||
5/31/2012 | 1,380,105 | 943,666 | (5,188,009 | ) | (2,864,238 | ) | 22,708,882 | — | 13,598,232 | (78,982,166 | ) | (42,675,052 | ) | |||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 144,213 | — | (2,841,528 | ) | (2,697,315 | ) | 2,027,675 | — | — | (40,132,078 | ) | (38,104,403 | ) | |||||||||||||||||||||||||
5/31/2012 | 2,953,317 | 510,781 | (7,244,458 | ) | (3,780,360 | ) | 47,347,520 | — | 7,508,472 | (115,777,542 | ) | (60,921,550 | ) | |||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 14,131 | — | (81,629 | ) | (67,498 | ) | 197,943 | — | — | (1,123,854 | ) | (925,911 | ) | |||||||||||||||||||||||||
5/31/2012 | 166,151 | — | (159,524 | ) | 6,627 | 2,652,939 | — | — | (2,570,406 | ) | 82,533 | |||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||
11/30/2012 | 63,890 | — | (1,915,173 | ) | (1,851,283 | ) | 989,571 | — | — | (29,030,114 | ) | (28,040,543 | ) | |||||||||||||||||||||||||
5/31/2012 | 992,765 | 360,774 | (1,836,644 | ) | (483,105 | ) | 17,868,330 | — | 5,743,519 | (31,445,373 | ) | (7,833,524 | ) |
Fund | Value of Securities Loaned | Cash Collateral Received | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Mid Cap Value | $ | 6,811,469 | $ | 7,027,923 | ||||||
MidCap Opportunities | 4,455,407 | 4,559,346 | ||||||||
SmallCap Opportunities | 5,481,006 | 5,639,057 |
Six Months Ended November 30, 2012 | Year Ended May 31, 2012 | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ordinary Income | Ordinary Income | Long-term Capital Gains | |||||||||||||
Growth Opportunities | $ | — | $ | 117,967 | $ | — | |||||||||
Large Cap Value | 2,568,692 | 6,961,073 | 343,038 | ||||||||||||
Mid Cap Value | — | 3,798,605 | — | ||||||||||||
MidCap Opportunities | — | 21,489 | 17,712,043 | ||||||||||||
Real Estate(1) | 16,000,174 | 15,344,972 | — | ||||||||||||
Value Choice | — | 10,346,592 | 73,217,010 |
(1) | Composition of dividends and distributions presented herein is based on the Fund’s current tax period (eleven months ended November 30, 2012) and tax year ended December 31, 2011. Composition of current period amounts may change after the Fund’s tax year-end of December 31, 2012. |
Undistributed Ordinary Income | Undistributed Long-term Capital Gains | Late Year Ordinary Losses Deferred | Post-October Capital Losses Deferred | Unrealized Appreciation/ (Depreciation) | Short-term Capital Loss Carryforwards | Expiration | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Opportunities | $ | 10,674 | $ | — | $ | — | $ | — | $ | 10,320,847 | $ | (10,059,442 | ) | 2018 | ||||||||||||||||
Large Cap Value | 6,089,309 | 1,950,152 | — | — | 7,768,117 | — | — | |||||||||||||||||||||||
Mid Cap Value | 22,776,228 | 51,326 | — | — | 5,105,802 | — | — | |||||||||||||||||||||||
MidCap Opportunities | — | 24,241,463 | — | — | 38,839,862 | (10,785,821 | )* | 2016 | ||||||||||||||||||||||
Real Estate(1) | — | — | — | — | 162,171,265 | (70,613,522 | ) | 2017 | ||||||||||||||||||||||
SmallCap Opportunities | — | — | — | — | 3,640,774 | (826,115 | ) | 2018 | ||||||||||||||||||||||
Value Choice | 3,184,864 | — | (2,356,345 | ) | (6,931,304 | ) | (63,009,664 | ) | (5,105,416 | )* | 2016 |
(1) | As of the Fund’s tax year ended December 31, 2011. |
* | Utilization of these capital losses is subject to annual limitations under Section 382 of the Internal Revenue Code. Amounts and years of expiration may be adjusted to reflect future gain/loss activity to comply with the limitation rules. |
MidCap Opportunities | $ | 111,635 | ||||
SmallCap Opportunities | $ | 353,112 |
complaint filed as an adversary proceeding (the “Complaint”). The ING Large Cap Value Fund, formerly known as the ING Equity Dividend Fund, is not a defendant in this matter. The Complaint alleges, among other things, that: (i) certain parties engaged in misconduct in connection with a leverage buyout transaction (the “LBO”) by which Tribune converted to a privately held company in 2007, (ii) the LBO damaged Tribune, and (iii) the LBO ultimately forced Tribune to file for bankruptcy. The Complaint seeks to recover payments made to beneficial owners in 2007 in connection with the LBO. As of June 24, 2012, none of the ING entities, including the Subject Fund, has been served with an amended complaint. However, based on historical ownership, we anticipate that the Subject Fund will be named as a defendant. The value of the shares sold by the Subject Fund in connection with the LBO was/is $1,258,340.
PER SHARE AMOUNTS | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Investment Income | Short-term Capital Gains | Long-term Capital Gains | Payable Date | Record Date | ||||||||||||||||||||
Large Cap Value | ||||||||||||||||||||||||
Class A | $ | — | $ | 0.1451 | $ | 0.1582 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class B | $ | — | $ | 0.1451 | $ | 0.1582 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class C | $ | — | $ | 0.1451 | $ | 0.1582 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class I | $ | — | $ | 0.1451 | $ | 0.1582 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class R | $ | — | $ | 0.1451 | $ | 0.1582 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class W | $ | — | $ | 0.1451 | $ | 0.1582 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class A | $ | 0.0489 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class B | $ | 0.0298 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class C | $ | 0.0293 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class I | $ | 0.0574 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class R | $ | 0.0462 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class W | $ | 0.0555 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Mid Cap Value | ||||||||||||||||||||||||
Class I | $ | 0.1192 | $ | 1.4969 | $ | 0.0582 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
MidCap Opportunities | ||||||||||||||||||||||||
Class A | $ | — | $ | — | $ | 0.5452 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class B | $ | — | $ | — | $ | 0.5452 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class C | $ | — | $ | — | $ | 0.5452 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class I | $ | — | $ | — | $ | 0.5452 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class O | $ | — | $ | — | $ | 0.5452 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class R | $ | — | $ | — | $ | 0.5452 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class W | $ | — | $ | — | $ | 0.5452 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Real Estate | ||||||||||||||||||||||||
Class A | $ | 0.0939 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class B | $ | 0.0621 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class C | $ | 0.0620 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class I | $ | 0.1084 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class O | $ | 0.0934 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class R | $ | 0.0882 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
Class W | $ | 0.1027 | $ | — | $ | — | January 2, 2013 | December 28, 2012 | ||||||||||||||||
SmallCap Opportunities | ||||||||||||||||||||||||
Class A | $ | — | $ | 0.2308 | $ | 0.4935 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class B | $ | — | $ | 0.2308 | $ | 0.4935 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class C | $ | — | $ | 0.2308 | $ | 0.4935 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class I | $ | — | $ | 0.2308 | $ | 0.4935 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class R | $ | — | $ | 0.2308 | $ | 0.4935 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class W | $ | — | $ | 0.2308 | $ | 0.4935 | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Value Choice | ||||||||||||||||||||||||
Class A | $ | 0.1833 | $ | — | $ | — | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class B | $ | 0.1082 | $ | — | $ | — | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class C | $ | 0.0928 | $ | — | $ | — | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class I | $ | 0.2098 | $ | — | $ | — | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class O | $ | 0.2152 | $ | — | $ | — | December 18, 2012 | December 14, 2012 | ||||||||||||||||
Class W | $ | 0.1987 | $ | — | $ | — | December 18, 2012 | December 14, 2012 |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.1% | |||||||||||||||||||
Consumer Discretionary: 16.7% | |||||||||||||||||||
61,180 | Comcast Corp. — Class A | $ | 2,274,672 | 2.3 | |||||||||||||||
39,000 | @ | Delphi Automotive PLC | 1,325,610 | 1.3 | |||||||||||||||
25,770 | @ | Discovery Communications, Inc. — Class A | 1,556,766 | 1.6 | |||||||||||||||
33,940 | Foot Locker, Inc. | 1,216,410 | 1.2 | ||||||||||||||||
32,160 | Gap, Inc. | 1,108,234 | 1.1 | ||||||||||||||||
28,150 | Home Depot, Inc. | 1,831,720 | 1.9 | ||||||||||||||||
25,830 | Macy’s, Inc. | 999,621 | 1.0 | ||||||||||||||||
19,825 | @ | Michael Kors Holdings Ltd. | 1,053,699 | 1.1 | |||||||||||||||
13,910 | Petsmart, Inc. | 982,880 | 1.0 | ||||||||||||||||
2,260 | @ | Priceline.com, Inc. | 1,498,742 | 1.5 | |||||||||||||||
24,050 | Scripps Networks Interactive — Class A | 1,419,912 | 1.4 | ||||||||||||||||
26,900 | Wyndham Worldwide Corp. | 1,320,521 | 1.3 | ||||||||||||||||
16,588,787 | 16.7 | ||||||||||||||||||
Consumer Staples: 9.6% | |||||||||||||||||||
46,830 | Coca-Cola Enterprises, Inc. | 1,460,160 | 1.4 | ||||||||||||||||
19,980 | Costco Wholesale Corp. | 2,077,720 | 2.1 | ||||||||||||||||
14,890 | JM Smucker Co. | 1,317,169 | 1.3 | ||||||||||||||||
37,900 | Mondelez International, Inc. | 981,231 | 1.0 | ||||||||||||||||
34,110 | Wal-Mart Stores, Inc. | 2,456,602 | 2.5 | ||||||||||||||||
13,740 | Whole Foods Market, Inc. | 1,282,766 | 1.3 | ||||||||||||||||
9,575,648 | 9.6 | ||||||||||||||||||
Energy: 5.0% | |||||||||||||||||||
34,150 | @ | Cameron International Corp. | 1,842,393 | 1.9 | |||||||||||||||
10,110 | EOG Resources, Inc. | 1,189,138 | 1.2 | ||||||||||||||||
16,040 | National Oilwell Varco, Inc. | 1,095,532 | 1.1 | ||||||||||||||||
53,050 | Other Securities | 818,561 | 0.8 | ||||||||||||||||
4,945,624 | 5.0 | ||||||||||||||||||
Financials: 4.7% | |||||||||||||||||||
7,920 | @ | Affiliated Managers Group, Inc. | 1,020,651 | 1.0 | |||||||||||||||
8,760 | Blackrock, Inc. | 1,726,070 | 1.8 | ||||||||||||||||
24,740 | JPMorgan Chase & Co. | 1,016,319 | 1.0 | ||||||||||||||||
12,140 | Other Securities | 859,755 | 0.9 | ||||||||||||||||
4,622,795 | 4.7 | ||||||||||||||||||
Health Care: 11.7% | |||||||||||||||||||
12,340 | @ | Alexion Pharmaceuticals, Inc. | 1,184,887 | 1.2 | |||||||||||||||
8,500 | @ | Biogen Idec, Inc. | 1,267,265 | 1.3 | |||||||||||||||
21,270 | Cooper Cos., Inc. | 2,019,374 | 2.0 | ||||||||||||||||
31,270 | @ | Cyberonics | 1,616,659 | 1.6 | |||||||||||||||
24,000 | @ | Express Scripts Holding Co. | 1,292,400 | 1.3 | |||||||||||||||
27,420 | @ | Gilead Sciences, Inc. | 2,056,500 | 2.1 | |||||||||||||||
39,790 | Resmed, Inc. | 1,634,971 | 1.7 | ||||||||||||||||
11,410 | Other Securities | 488,918 | 0.5 | ||||||||||||||||
11,560,974 | 11.7 | ||||||||||||||||||
Industrials: 12.6% | |||||||||||||||||||
29,220 | Ametek, Inc. | 1,090,783 | 1.1 | ||||||||||||||||
36,048 | Danaher Corp. | 1,945,511 | 2.0 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Industrials: (continued) | |||||||||||||||||||
23,860 | Equifax, Inc. | $ | 1,222,586 | 1.2 | |||||||||||||||
18,520 | Nordson Corp. | 1,133,239 | 1.1 | ||||||||||||||||
17,515 | Regal-Beloit Corp. | 1,221,671 | 1.2 | ||||||||||||||||
15,754 | Roper Industries, Inc. | 1,757,044 | 1.8 | ||||||||||||||||
17,100 | Union Pacific Corp. | 2,099,538 | 2.1 | ||||||||||||||||
39,160 | Waste Connections, Inc. | 1,289,147 | 1.3 | ||||||||||||||||
8,580 | Other Securities | 790,561 | 0.8 | ||||||||||||||||
12,550,080 | 12.6 | ||||||||||||||||||
Information Technology: 33.8% | |||||||||||||||||||
13,994 | Apple, Inc. | 8,190,408 | 8.3 | ||||||||||||||||
30,680 | @ | Autodesk, Inc. | 1,016,429 | 1.0 | |||||||||||||||
69,670 | @ | EMC Corp. | 1,729,209 | 1.7 | |||||||||||||||
11,940 | @ | F5 Networks, Inc. | 1,118,539 | 1.1 | |||||||||||||||
59,090 | Flir Systems, Inc. | 1,205,436 | 1.2 | ||||||||||||||||
5,910 | @ | Google, Inc. — Class A | 4,127,367 | 4.2 | |||||||||||||||
15,930 | International Business Machines Corp. | 3,027,815 | 3.1 | ||||||||||||||||
23,780 | Intuit, Inc. | 1,424,660 | 1.4 | ||||||||||||||||
70,400 | @ | Juniper Networks, Inc. | 1,265,792 | 1.3 | |||||||||||||||
42,910 | @ | NetApp, Inc. | 1,360,676 | 1.4 | |||||||||||||||
67,423 | Oracle Corp. | 2,164,278 | 2.2 | ||||||||||||||||
31,990 | Qualcomm, Inc. | 2,035,204 | 2.1 | ||||||||||||||||
16,400 | @ | Teradata Corp. | 975,472 | 1.0 | |||||||||||||||
11,310 | Visa, Inc. | 1,693,220 | 1.7 | ||||||||||||||||
38,430 | Xilinx, Inc. | 1,331,600 | 1.3 | ||||||||||||||||
69,790 | Other Securities | 836,084 | 0.8 | ||||||||||||||||
33,502,189 | 33.8 | ||||||||||||||||||
Materials: 4.0% | |||||||||||||||||||
19,330 | Eastman Chemical Co. | 1,176,231 | 1.2 | ||||||||||||||||
25,470 | Freeport-McMoRan Copper & Gold, Inc. | 993,584 | 1.0 | ||||||||||||||||
28,720 | International Paper Co. | 1,066,661 | 1.1 | ||||||||||||||||
56,440 | Other Securities | 729,205 | 0.7 | ||||||||||||||||
3,965,681 | 4.0 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $81,679,306) | 97,311,778 | 98.1 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 0.6% | |||||||||||||||||||
Mutual Funds: 0.6% | |||||||||||||||||||
564,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $564,000) | 564,000 | 0.6 | ||||||||||||||||
Total Short-Term Investments (Cost $564,000) | 564,000 | 0.6 | |||||||||||||||||
Total Investments in Securities (Cost $82,243,306) | $ | 97,875,778 | 98.7 | ||||||||||||||||
Assets in Excess of Other Liabilities | 1,247,607 | 1.3 | |||||||||||||||||
Net Assets | $ | 99,123,385 | 100.0 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
@ | Non-income producing security |
Cost for federal income tax purposes is $82,500,473. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 17,101,871 | ||||
Gross Unrealized Depreciation | (1,726,566 | ) | ||||
Net Unrealized Appreciation | $ | 15,375,305 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 97,311,778 | $ | — | $ | — | $ | 97,311,778 | ||||||||||
Short-Term Investments | 564,000 | — | — | 564,000 | ||||||||||||||
Total Investments, at fair value | $ | 97,875,778 | $ | — | $ | — | $ | 97,875,778 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 94.3% | |||||||||||||||||||
Consumer Discretionary: 9.1% | |||||||||||||||||||
221,817 | Comcast Corp. — Class A | $ | 8,247,156 | 1.9 | |||||||||||||||
136,263 | @ | Delphi Automotive PLC | 4,631,579 | 1.1 | |||||||||||||||
127,775 | Foot Locker, Inc. | 4,579,456 | 1.0 | ||||||||||||||||
269,734 | Lowe’s Cos., Inc. | 9,734,700 | 2.2 | ||||||||||||||||
131,607 | Macy’s, Inc. | 5,093,191 | 1.2 | ||||||||||||||||
131,595 | Other Securities | 7,372,478 | 1.7 | ||||||||||||||||
39,658,560 | 9.1 | ||||||||||||||||||
Consumer Staples: 6.8% | |||||||||||||||||||
194,219 | Coca-Cola Enterprises, Inc. | 6,055,749 | 1.4 | ||||||||||||||||
62,226 | JM Smucker Co. | 5,504,512 | 1.3 | ||||||||||||||||
155,629 | @ | Kraft Foods Group, Inc. | 7,037,543 | 1.6 | |||||||||||||||
55,582 | Philip Morris International, Inc. | 4,995,710 | 1.1 | ||||||||||||||||
81,903 | Wal-Mart Stores, Inc. | 5,898,654 | 1.4 | ||||||||||||||||
29,492,168 | 6.8 | ||||||||||||||||||
Energy: 14.6% | |||||||||||||||||||
43,187 | EOG Resources, Inc. | 5,079,655 | 1.2 | ||||||||||||||||
352,018 | ExxonMobil Corp. | 31,026,867 | 7.1 | ||||||||||||||||
254,018 | Halliburton Co. | 8,471,500 | 1.9 | ||||||||||||||||
131,226 | @ | Rowan Companies PLC | 4,163,801 | 1.0 | |||||||||||||||
62,737 | Royal Dutch Shell PLC — Class A ADR | 4,201,497 | 1.0 | ||||||||||||||||
178,250 | Statoil ASA ADR | 4,347,517 | 1.0 | ||||||||||||||||
104,855 | Other Securities | 6,461,641 | 1.4 | ||||||||||||||||
63,752,478 | 14.6 | ||||||||||||||||||
Financials: 24.3% | |||||||||||||||||||
84,970 | Ameriprise Financial, Inc. | 5,155,130 | 1.2 | ||||||||||||||||
160,104 | BB&T Corp. | 4,510,130 | 1.0 | ||||||||||||||||
177,095 | Citigroup, Inc. | 6,122,174 | 1.4 | ||||||||||||||||
380,393 | Fifth Third Bancorp. | 5,568,954 | 1.3 | ||||||||||||||||
296,436 | JPMorgan Chase & Co. | 12,177,591 | 2.8 | ||||||||||||||||
206,615 | Lincoln National Corp. | 5,103,390 | 1.2 | ||||||||||||||||
90,336 | PNC Financial Services Group, Inc. | 5,071,463 | 1.2 | ||||||||||||||||
85,736 | Prudential Financial, Inc. | 4,468,560 | 1.0 | ||||||||||||||||
649,900 | Regions Financial Corp. | 4,334,833 | 1.0 | ||||||||||||||||
198,691 | SunTrust Bank | 5,394,461 | 1.2 | ||||||||||||||||
85,992 | Travelers Cos., Inc. | 6,089,953 | 1.4 | ||||||||||||||||
249,162 | US Bancorp. | 8,037,966 | 1.8 | ||||||||||||||||
165,598 | Weingarten Realty Investors | 4,500,954 | 1.0 | ||||||||||||||||
425,748 | Wells Fargo & Co. | 14,053,941 | 3.2 | ||||||||||||||||
224,245 | XL Group PLC | 5,455,881 | 1.3 | ||||||||||||||||
445,210 | Other Securities | 9,814,227 | 2.3 | ||||||||||||||||
105,859,608 | 24.3 | ||||||||||||||||||
Health Care: 10.2% | |||||||||||||||||||
72,065 | Abbott Laboratories | 4,684,225 | 1.1 | ||||||||||||||||
89,314 | Eli Lilly & Co. | 4,379,959 | 1.0 | ||||||||||||||||
106,308 | Medtronic, Inc. | 4,476,630 | 1.0 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Health Care: (continued) | |||||||||||||||||||
314,580 | Merck & Co., Inc. | $ | 13,935,894 | 3.2 | |||||||||||||||
688,327 | Pfizer, Inc. | 17,221,941 | 3.9 | ||||||||||||||||
44,698,649 | 10.2 | ||||||||||||||||||
Industrials: 8.8% | |||||||||||||||||||
124,196 | Ametek, Inc. | 4,636,237 | 1.1 | ||||||||||||||||
65,549 | Boeing Co. | 4,868,980 | 1.1 | ||||||||||||||||
98,769 | Fluor Corp. | 5,242,659 | 1.2 | ||||||||||||||||
86,375 | General Dynamics Corp. | 5,743,937 | 1.3 | ||||||||||||||||
641,688 | General Electric Co. | 13,558,867 | 3.1 | ||||||||||||||||
37,182 | Union Pacific Corp. | 4,565,206 | 1.0 | ||||||||||||||||
38,615,886 | 8.8 | ||||||||||||||||||
Information Technology: 6.1% | |||||||||||||||||||
115,813 | Automatic Data Processing, Inc. | 6,573,546 | 1.5 | ||||||||||||||||
568,091 | Cisco Systems, Inc. | 10,742,601 | 2.5 | ||||||||||||||||
169,430 | Microchip Technology, Inc. | 5,154,060 | 1.2 | ||||||||||||||||
148,306 | Other Securities | 3,947,906 | 0.9 | ||||||||||||||||
26,418,113 | 6.1 | ||||||||||||||||||
Materials: 4.7% | |||||||||||||||||||
140,296 | Freeport-McMoRan Copper & Gold, Inc. | 5,472,947 | 1.2 | ||||||||||||||||
128,925 | International Paper Co. | 4,788,275 | 1.1 | ||||||||||||||||
133,779 | Nucor Corp. | 5,509,019 | 1.3 | ||||||||||||||||
131,735 | Packaging Corp. of America | 4,800,423 | 1.1 | ||||||||||||||||
20,570,664 | 4.7 | ||||||||||||||||||
Telecommunication Services: 3.7% | |||||||||||||||||||
190,646 | CenturyTel, Inc. | 7,404,691 | 1.7 | ||||||||||||||||
200,649 | Verizon Communications, Inc. | 8,852,634 | 2.0 | ||||||||||||||||
16,257,325 | 3.7 | ||||||||||||||||||
Utilities: 6.0% | |||||||||||||||||||
289,540 | CenterPoint Energy, Inc. | 5,712,624 | 1.3 | ||||||||||||||||
100,893 | DTE Energy Co. | 6,112,098 | 1.4 | ||||||||||||||||
73,087 | Entergy Corp. | 4,643,948 | 1.1 | ||||||||||||||||
255,167 | Great Plains Energy, Inc. | 5,167,132 | 1.2 | ||||||||||||||||
237,189 | NV Energy, Inc. | 4,347,674 | 1.0 | ||||||||||||||||
25,983,476 | 6.0 | ||||||||||||||||||
Total Common Stock (Cost $383,147,763) | 411,306,927 | 94.3 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 2.3% | |||||||||||||||||||
136,800 | iShares Russell 1000 Value Index Fund | 9,815,400 | 2.3 | ||||||||||||||||
Total Exchange-Traded Funds (Cost $9,809,650) | 9,815,400 | 2.3 | |||||||||||||||||
Total Long-Term Investments (Cost $392,957,413) | 421,122,327 | 96.6 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.9% | |||||||||||||||||||
Mutual Funds: 2.9% | |||||||||||||||||||
12,862,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $12,862,000) | $ | 12,862,000 | 2.9 | |||||||||||||||
Total Short-Term Investments (Cost $12,862,000) | 12,862,000 | 2.9 | |||||||||||||||||
Total Investments in Securities (Cost $405,819,413) | $ | 433,984,327 | 99.5 | ||||||||||||||||
Assets in Excess of Other Liabilities | 2,041,254 | 0.5 | |||||||||||||||||
Net Assets | $ | 436,025,581 | 100.0 |
@ | Non-income producing security |
ADR | American Depositary Receipt |
Cost for federal income tax purposes is $406,980,669. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 29,634,499 | ||||
Gross Unrealized Depreciation | (2,630,841 | ) | ||||
Net Unrealized Appreciation | $ | 27,003,658 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 411,306,927 | $ | — | $ | — | $ | 411,306,927 | ||||||||||
Exchange-Traded Funds | 9,815,400 | — | — | 9,815,400 | ||||||||||||||
Short-Term Investments | 12,862,000 | — | — | 12,862,000 | ||||||||||||||
Total Investments, at fair value | $ | 433,984,327 | $ | — | $ | — | $ | 433,984,327 |
^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Futures | |||||
Equity contracts | $ | 576,779 | ||||
Total | $ | 576,779 |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.8% | |||||||||||||||||||
Consumer Discretionary: 10.4% | |||||||||||||||||||
108,250 | Mattel, Inc. | $ | 4,060,458 | 1.5 | |||||||||||||||
216,400 | Newell Rubbermaid, Inc. | 4,719,684 | 1.8 | ||||||||||||||||
52,370 | @ | TRW Automotive Holdings Corp. | 2,652,017 | 1.0 | |||||||||||||||
1,305,889 | Other Securities(a) | 16,078,091 | 6.1 | ||||||||||||||||
27,510,250 | 10.4 | ||||||||||||||||||
Consumer Staples: 2.6% | |||||||||||||||||||
29,300 | Bunge Ltd. | 2,143,588 | 0.8 | ||||||||||||||||
87,891 | Other Securities | 4,875,692 | 1.8 | ||||||||||||||||
7,019,280 | 2.6 | ||||||||||||||||||
Energy: 9.9% | |||||||||||||||||||
55,100 | @ | Cameron International Corp. | 2,972,645 | 1.1 | |||||||||||||||
113,200 | @ | Cobalt International Energy, Inc. | 2,639,824 | 1.0 | |||||||||||||||
51,750 | @ | Dresser-Rand Group, Inc. | 2,732,918 | 1.0 | |||||||||||||||
53,600 | @ | Gulfport Energy Corp. | 2,038,944 | 0.8 | |||||||||||||||
168,754 | @ | Noble Corp. | 5,820,324 | 2.2 | |||||||||||||||
106,100 | QEP Resources, Inc. | 2,983,532 | 1.1 | ||||||||||||||||
492,455 | Other Securities | 7,234,543 | 2.7 | ||||||||||||||||
26,422,730 | 9.9 | ||||||||||||||||||
Financials: 23.3% | |||||||||||||||||||
48,850 | American Financial Group, Inc. | 1,936,902 | 0.7 | ||||||||||||||||
187,390 | Fifth Third Bancorp. | 2,743,390 | 1.0 | ||||||||||||||||
171,300 | Hartford Financial Services Group, Inc. | 3,628,134 | 1.4 | ||||||||||||||||
57,350 | HCC Insurance Holdings, Inc. | 2,115,068 | 0.8 | ||||||||||||||||
431,380 | L | KKR Financial Holdings LLC | 4,533,804 | 1.7 | |||||||||||||||
108,600 | @ | PHH Corp. | 2,379,426 | 0.9 | |||||||||||||||
109,667 | Reinsurance Group of America, Inc. | 5,614,950 | 2.1 | ||||||||||||||||
216,700 | UnumProvident Corp. | 4,418,513 | 1.7 | ||||||||||||||||
94,700 | Weyerhaeuser Co. | 2,609,932 | 1.0 | ||||||||||||||||
95,200 | Zions Bancorp. | 1,910,664 | 0.7 | ||||||||||||||||
1,736,909 | Other Securities | 29,838,619 | 11.3 | ||||||||||||||||
61,729,402 | 23.3 | ||||||||||||||||||
Health Care: 8.9% | |||||||||||||||||||
221,713 | Almirall SA | 2,054,105 | 0.8 | ||||||||||||||||
89,400 | AmerisourceBergen Corp. | 3,774,468 | 1.4 | ||||||||||||||||
93,800 | @ | Brookdale Senior Living, Inc. | 2,397,528 | 0.9 | |||||||||||||||
47,800 | Cigna Corp. | 2,498,506 | 0.9 | ||||||||||||||||
77,300 | @ | Mylan Laboratories | 2,101,014 | 0.8 | |||||||||||||||
79,900 | Universal Health Services, Inc. | 3,601,093 | 1.4 | ||||||||||||||||
419,177 | Other Securities | 7,295,154 | 2.7 | ||||||||||||||||
23,721,868 | 8.9 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Industrials: 16.5% | |||||||||||||||||||
682,545 | @ | ACCO Brands Corp. | $ | 4,600,353 | 1.7 | ||||||||||||||
64,400 | Fluor Corp. | 3,418,352 | 1.3 | ||||||||||||||||
29,217 | Gardner Denver, Inc. | 2,040,808 | 0.8 | ||||||||||||||||
32,200 | Hubbell, Inc. | 2,712,850 | 1.0 | ||||||||||||||||
109,950 | KBR, Inc. | 3,056,610 | 1.2 | ||||||||||||||||
49,600 | @ | Pentair Ltd. | 2,405,104 | 0.9 | |||||||||||||||
34,600 | @ | Wesco International, Inc. | 2,236,890 | 0.8 | |||||||||||||||
756,604 | Other Securities | 23,248,856 | 8.8 | ||||||||||||||||
43,719,823 | 16.5 | ||||||||||||||||||
Information Technology: 9.5% | |||||||||||||||||||
151,697 | @ | Arrow Electronics, Inc. | 5,652,230 | 2.1 | |||||||||||||||
69,400 | Avago Technologies Ltd. | 2,435,940 | 0.9 | ||||||||||||||||
107,800 | @ | Microsemi Corp. | 2,063,292 | 0.8 | |||||||||||||||
190,507 | @ | Skyworks Solutions, Inc. | 4,314,984 | 1.6 | |||||||||||||||
138,700 | @ | Teradyne, Inc. | 2,169,268 | 0.8 | |||||||||||||||
378,100 | Other Securities(a) | 8,701,514 | 3.3 | ||||||||||||||||
25,337,228 | 9.5 | ||||||||||||||||||
Materials: 10.8% | |||||||||||||||||||
46,578 | Ashland, Inc. | 3,303,312 | 1.3 | ||||||||||||||||
84,149 | @ | Crown Holdings, Inc. | 3,142,965 | 1.2 | |||||||||||||||
36,850 | Cytec Industries, Inc. | 2,529,384 | 1.0 | ||||||||||||||||
70,800 | International Paper Co. | 2,629,512 | 1.0 | ||||||||||||||||
70,900 | Methanex Corp. | 2,144,016 | 0.8 | ||||||||||||||||
163,070 | @ | Owens-Illinois, Inc. | 3,266,292 | 1.2 | |||||||||||||||
60,800 | Packaging Corp. of America | 2,215,552 | 0.8 | ||||||||||||||||
59,656 | Schweitzer-Mauduit International, Inc. | 2,235,310 | 0.8 | ||||||||||||||||
1,062,804 | Other Securities | 7,230,136 | 2.7 | ||||||||||||||||
28,696,479 | 10.8 | ||||||||||||||||||
Telecommunication Services: 0.3% | |||||||||||||||||||
84,861 | Other Securities(a) | 711,135 | 0.3 | ||||||||||||||||
Utilities: 6.6% | |||||||||||||||||||
117,550 | Edison International | 5,346,174 | 2.0 | ||||||||||||||||
56,800 | Northeast Utilities | 2,200,432 | 0.8 | ||||||||||||||||
120,800 | NV Energy, Inc. | 2,214,264 | 0.9 | ||||||||||||||||
72,900 | UGI Corp. | 2,421,738 | 0.9 | ||||||||||||||||
166,550 | Other Securities | 5,218,353 | 2.0 | ||||||||||||||||
17,400,961 | 6.6 | ||||||||||||||||||
Total Common Stock (Cost $243,205,467) | 262,269,156 | 98.8 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 3.7% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.6% | |||||||||||||||||||
1,669,132 | Barclays Bank PLC, Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,669,164, collateralized by various U.S. Government Agency Obligations, 3.500%–4.000%, Market Value plus accrued interest $1,702,515, due 11/01/40–07/01/42) | $ | 1,669,132 | 0.6 | |||||||||||||||
351,395 | BNP Paribas Bank, Repurchase Agreement dated 11/30/12, 0.21%, due 12/03/12 (Repurchase Amount $351,401, collateralized by various U.S. Government Securities, 0.000%–0.875%, Market Value plus accrued interest $358,425, due 12/20/12–11/30/17) | 351,395 | 0.2 | ||||||||||||||||
1,669,132 | Citigroup, Inc., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,669,165, collateralized by various U.S. Government Agency Obligations, 2.233%– 5.000%, Market Value plus accrued interest $1,702,515, due 03/01/21–12/01/42) | 1,669,132 | 0.6 | ||||||||||||||||
1,669,132 | Deutsche Bank AG, Repurchase Agreement dated 11/30/12, 0.25%, due 12/03/12 (Repurchase Amount $1,669,166, collateralized by various U.S. Government Agency Obligations, 3.000%–4.500%, Market Value plus accrued interest $1,702,515, due 08/20/41–11/15/42) | 1,669,132 | 0.6 | ||||||||||||||||
1,669,132 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,669,164, collateralized by various U.S. Government Agency Obligations, 2.459%–6.500%, Market Value plus accrued interest $1,702,515, due 11/01/22–12/01/42) | 1,669,132 | 0.6 | ||||||||||||||||
7,027,923 | 2.6 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 1.1% | |||||||||||||||||||
2,823,649 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $2,823,649) | $ | 2,823,649 | 1.1 | |||||||||||||||
Total Short-Term Investments (Cost $9,851,572) | 9,851,572 | 3.7 | |||||||||||||||||
Total Investments in Securities (Cost $253,057,039) | $ | 272,120,728 | 102.5 | ||||||||||||||||
Liabilities in Excess of Other Assets | (6,718,325 | ) | (2.5 | ) | |||||||||||||||
Net Assets | $ | 265,402,403 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at November 30, 2012. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
(a) | This grouping contains securities on loan. |
Cost for federal income tax purposes is $255,611,443. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 24,094,459 | ||||
Gross Unrealized Depreciation | (7,585,174 | ) | ||||
Net Unrealized Appreciation | $ | 16,509,285 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Consumer Discretionary | $ | 25,686,936 | $ | 1,823,314 | $ | — | $ | 27,510,250 | ||||||||||
Consumer Staples | 7,019,280 | — | — | 7,019,280 | ||||||||||||||
Energy | 25,817,817 | 604,913 | — | 26,422,730 | ||||||||||||||
Financials | 61,729,402 | — | — | 61,729,402 | ||||||||||||||
Health Care | 20,370,730 | 3,351,138 | — | 23,721,868 | ||||||||||||||
Industrials | 43,719,823 | — | — | 43,719,823 | ||||||||||||||
Information Technology | 25,337,228 | — | — | 25,337,228 | ||||||||||||||
Materials | 26,957,557 | 1,738,922 | — | 28,696,479 | ||||||||||||||
Telecommunication Services | 711,135 | — | — | 711,135 | ||||||||||||||
Utilities | 17,400,961 | — | — | 17,400,961 | ||||||||||||||
Total Common Stock | 254,750,869 | 7,518,287 | — | 262,269,156 | ||||||||||||||
Short-Term Investments | 2,823,649 | 7,027,923 | — | 9,851,572 | ||||||||||||||
Total Investments, at fair value | $ | 257,574,518 | $ | 14,546,210 | $ | — | $ | 272,120,728 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a portion of the Fund’s investments are categorized as Level 2 investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.3% | |||||||||||||||||||
Consumer Discretionary: 26.1% | |||||||||||||||||||
358,208 | Brinker International, Inc. | $ | 10,728,330 | 1.2 | |||||||||||||||
522,280 | @ | Delphi Automotive PLC | 17,752,297 | 1.9 | |||||||||||||||
314,620 | @ | Discovery Communications, Inc. — Class A | 19,006,194 | 2.1 | |||||||||||||||
423,025 | Foot Locker, Inc. | 15,161,216 | 1.7 | ||||||||||||||||
509,750 | Gap, Inc. | 17,565,985 | 1.9 | ||||||||||||||||
274,216 | Harley-Davidson, Inc. | 12,877,183 | 1.4 | ||||||||||||||||
83,369 | @ | Liberty Media Corp. — Liberty Capital | 9,169,756 | 1.0 | |||||||||||||||
547,090 | @, L | Lions Gate Entertainment Corp. | 8,961,334 | 1.0 | |||||||||||||||
376,701 | Macy’s, Inc. | 14,578,329 | 1.6 | ||||||||||||||||
260,685 | @ | Michael Kors Holdings Ltd. | 13,855,408 | 1.5 | |||||||||||||||
643,810 | Newell Rubbermaid, Inc. | 14,041,496 | 1.5 | ||||||||||||||||
216,630 | Petsmart, Inc. | 15,307,076 | 1.7 | ||||||||||||||||
216,990 | Scripps Networks Interactive — Class A | 12,811,090 | 1.4 | ||||||||||||||||
152,290 | Six Flags Entertainment Corp. | 9,362,789 | 1.0 | ||||||||||||||||
122,700 | @ | Ulta Salon Cosmetics & Fragrance, Inc. | 12,304,356 | 1.4 | |||||||||||||||
241,788 | Wyndham Worldwide Corp. | 11,869,373 | 1.3 | ||||||||||||||||
440,939 | Other Securities | 22,193,503 | 2.5 | ||||||||||||||||
237,545,715 | 26.1 | ||||||||||||||||||
Consumer Staples: 6.1% | |||||||||||||||||||
569,839 | Coca-Cola Enterprises, Inc. | 17,767,580 | 1.9 | ||||||||||||||||
136,380 | JM Smucker Co. | 12,064,175 | 1.3 | ||||||||||||||||
193,190 | Whole Foods Market, Inc. | 18,036,218 | 2.0 | ||||||||||||||||
142,498 | Other Securities | 7,995,563 | 0.9 | ||||||||||||||||
55,863,536 | 6.1 | ||||||||||||||||||
Energy: 6.3% | |||||||||||||||||||
322,977 | @ | Cameron International Corp. | 17,424,609 | 1.9 | |||||||||||||||
732,140 | @ | Denbury Resources, Inc. | 11,296,921 | 1.2 | |||||||||||||||
326,250 | @ | Oasis Petroleum, Inc. | 9,859,275 | 1.1 | |||||||||||||||
241,807 | Range Resources Corp. | 15,480,484 | 1.7 | ||||||||||||||||
99,410 | Other Securities | 3,450,521 | 0.4 | ||||||||||||||||
57,511,810 | 6.3 | ||||||||||||||||||
Financials: 8.0% | |||||||||||||||||||
82,860 | @ | Affiliated Managers Group, Inc. | 10,678,168 | 1.2 | |||||||||||||||
208,976 | Ameriprise Financial, Inc. | 12,678,574 | 1.4 | ||||||||||||||||
657,927 | Fifth Third Bancorp. | 9,632,051 | 1.0 | ||||||||||||||||
431,880 | Nasdaq Stock Market, Inc. | 10,464,452 | 1.1 | ||||||||||||||||
137,290 | T. Rowe Price Group, Inc. | 8,878,545 | 1.0 | ||||||||||||||||
273,990 | Tanger Factory Outlet Centers, Inc. | 9,008,791 | 1.0 | ||||||||||||||||
442,986 | Other Securities | 11,977,856 | 1.3 | ||||||||||||||||
73,318,437 | 8.0 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Health Care: 13.0% | |||||||||||||||||||
161,414 | @ | Alexion Pharmaceuticals, Inc. | $ | 15,498,972 | 1.7 | ||||||||||||||
154,824 | Cooper Cos., Inc. | 14,698,991 | 1.6 | ||||||||||||||||
343,540 | @ | HCA Holdings, Inc. | 10,907,395 | 1.2 | |||||||||||||||
162,471 | Perrigo Co. | 16,815,748 | 1.9 | ||||||||||||||||
332,430 | Resmed, Inc. | 13,659,549 | 1.5 | ||||||||||||||||
198,735 | @ | Watson Pharmaceuticals, Inc. | 17,490,667 | 1.9 | |||||||||||||||
511,707 | Other Securities | 29,359,776 | 3.2 | ||||||||||||||||
118,431,098 | 13.0 | ||||||||||||||||||
Industrials: 16.3% | |||||||||||||||||||
200,723 | Acuity Brands, Inc. | 13,277,826 | 1.5 | ||||||||||||||||
425,737 | Ametek, Inc. | 15,892,762 | 1.7 | ||||||||||||||||
279,790 | Equifax, Inc. | 14,336,440 | 1.6 | ||||||||||||||||
89,000 | Flowserve Corp. | 12,330,950 | 1.4 | ||||||||||||||||
198,590 | Nordson Corp. | 12,151,722 | 1.3 | ||||||||||||||||
222,247 | Pall Corp. | 13,219,252 | 1.5 | ||||||||||||||||
159,966 | Regal-Beloit Corp. | 11,157,628 | 1.2 | ||||||||||||||||
165,013 | Roper Industries, Inc. | 18,403,900 | 2.0 | ||||||||||||||||
426,012 | Waste Connections, Inc. | 14,024,315 | 1.5 | ||||||||||||||||
144,716 | @ | Wesco International, Inc. | 9,355,889 | 1.0 | |||||||||||||||
239,972 | Other Securities | 14,535,051 | 1.6 | ||||||||||||||||
148,685,735 | 16.3 | ||||||||||||||||||
Information Technology: 16.4% | |||||||||||||||||||
308,602 | Analog Devices, Inc. | 12,529,241 | 1.4 | ||||||||||||||||
504,520 | @ | Autodesk, Inc. | 16,714,748 | 1.8 | |||||||||||||||
157,550 | @ | F5 Networks, Inc. | 14,759,284 | 1.6 | |||||||||||||||
513,990 | Flir Systems, Inc. | 10,485,396 | 1.2 | ||||||||||||||||
312,508 | Intuit, Inc. | 18,722,354 | 2.1 | ||||||||||||||||
669,670 | @ | Juniper Networks, Inc. | 12,040,667 | 1.3 | |||||||||||||||
252,568 | @ | Micros Systems, Inc. | 10,976,605 | 1.2 | |||||||||||||||
554,634 | @ | NetApp, Inc. | 17,587,444 | 1.9 | |||||||||||||||
153,230 | @ | Teradata Corp. | 9,114,120 | 1.0 | |||||||||||||||
423,947 | Xilinx, Inc. | 14,689,764 | 1.6 | ||||||||||||||||
719,614 | Other Securities | 11,510,926 | 1.3 | ||||||||||||||||
149,130,549 | 16.4 | ||||||||||||||||||
Materials: 4.4% | |||||||||||||||||||
256,480 | Eastman Chemical Co. | 15,606,808 | 1.7 | ||||||||||||||||
429,684 | Packaging Corp. of America | 15,657,685 | 1.7 | ||||||||||||||||
669,320 | Steel Dynamics, Inc. | 8,647,614 | 1.0 | ||||||||||||||||
39,912,107 | 4.4 | ||||||||||||||||||
Telecommunication Services: 1.7% | |||||||||||||||||||
220,688 | @ | SBA Communications Corp. | 15,187,748 | 1.7 | |||||||||||||||
Total Common Stock (Cost $812,399,382) | 895,586,735 | 98.3 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.4% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.5% | |||||||||||||||||||
1,082,845 | Barclays Bank PLC, Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,082,865, collateralized by various U.S. Government Agency Obligations, 3.500%– 4.000%, Market Value plus accrued interest $1,104,502, due 11/01/40–07/01/42) | $ | 1,082,845 | 0.1 | |||||||||||||||
227,966 | BNP Paribas Bank, Repurchase Agreement dated 11/30/12, 0.21%, due 12/03/12 (Repurchase Amount $227,970, collateralized by various U.S. Government Securities, 0.000%–0.875%, Market Value plus accrued interest $232,527, due 12/20/12–11/30/17) | 227,966 | 0.1 | ||||||||||||||||
1,082,845 | Citigroup, Inc., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,082,866, collateralized by various U.S. Government Agency Obligations, 2.233%–5.000%, Market Value plus accrued interest $1,104,502, due 03/01/21–12/01/42) | 1,082,845 | 0.1 | ||||||||||||||||
1,082,845 | Deutsche Bank AG, Repurchase Agreement dated 11/30/12, 0.25%, due 12/03/12 (Repurchase Amount $1,082,867, collateralized by various U.S. Government Agency Obligations, 3.000%–4.500%, Market Value plus accrued interest $1,104,502, due 08/20/41–11/15/42) | 1,082,845 | 0.1 | ||||||||||||||||
1,082,845 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,082,865, collateralized by various U.S. Government Agency Obligations, 2.459%–6.500%, Market Value plus accrued interest $1,104,502, due 11/01/22–12/01/42) | 1,082,845 | 0.1 | ||||||||||||||||
4,559,346 | 0.5 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 1.9% | |||||||||||||||||||
17,294,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $17,294,000) | $ | 17,294,000 | 1.9 | |||||||||||||||
Total Short-Term Investments (Cost $21,853,346) | 21,853,346 | 2.4 | |||||||||||||||||
Total Investments in Securities (Cost $834,252,728) | $ | 917,440,081 | 100.7 | ||||||||||||||||
Liabilities in Excess of Other Assets | (6,275,500 | ) | (0.7 | ) | |||||||||||||||
Net Assets | $ | 911,164,581 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at November 30, 2012. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $835,243,067. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 96,991,193 | ||||
Gross Unrealized Depreciation | (14,794,179 | ) | ||||
Net Unrealized Appreciation | $ | 82,197,014 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 895,586,735 | $ | — | $ | — | $ | 895,586,735 | ||||||||||
Short-Term Investments | 17,294,000 | 4,559,346 | — | 21,853,346 | ||||||||||||||
Total Investments, at fair value | $ | 912,880,735 | $ | 4,559,346 | $ | — | $ | 917,440,081 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED))
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.7% | |||||||||||||||||||
Financials: 98.7% | |||||||||||||||||||
456,900 | American Campus Communities, Inc. | $ | 20,012,220 | 1.8 | |||||||||||||||
152,200 | American Tower Corp. | 11,404,346 | 1.0 | ||||||||||||||||
337,869 | AvalonBay Communities, Inc. | 44,527,755 | 4.0 | ||||||||||||||||
561,982 | Boston Properties, Inc. | 57,676,213 | 5.2 | ||||||||||||||||
411,500 | BRE Properties, Inc. | 20,019,475 | 1.8 | ||||||||||||||||
446,900 | CBL & Associates Properties, Inc. | 10,059,719 | 0.9 | ||||||||||||||||
594,700 | Colonial Properties Trust | 12,131,880 | 1.1 | ||||||||||||||||
484,678 | CubeSmart | 6,688,556 | 0.6 | ||||||||||||||||
1,156,000 | DDR Corp. | 17,698,360 | 1.6 | ||||||||||||||||
137,800 | Digital Realty Trust, Inc. | 8,893,612 | 0.8 | ||||||||||||||||
846,700 | Douglas Emmett, Inc. | 19,228,557 | 1.7 | ||||||||||||||||
1,239,800 | Duke Realty Corp. | 16,737,300 | 1.5 | ||||||||||||||||
879,139 | Equity Residential | 48,801,006 | 4.4 | ||||||||||||||||
94,400 | Essex Property Trust, Inc. | 13,262,256 | 1.2 | ||||||||||||||||
194,400 | Federal Realty Investment Trust | 20,225,376 | 1.8 | ||||||||||||||||
1,740,142 | General Growth Properties, Inc. | 33,706,551 | 3.0 | ||||||||||||||||
1,206,500 | HCP, Inc. | 54,352,825 | 4.9 | ||||||||||||||||
784,300 | Health Care Real Estate Investment Trust, Inc. | 46,187,427 | 4.1 | ||||||||||||||||
583,720 | Healthcare Realty Trust, Inc. | 13,921,722 | 1.2 | ||||||||||||||||
410,600 | Highwoods Properties, Inc. | 13,237,744 | 1.2 | ||||||||||||||||
3,131,955 | Host Hotels & Resorts, Inc. | 46,008,419 | 4.1 | ||||||||||||||||
481,200 | Kilroy Realty Corp. | 21,702,120 | 1.9 | ||||||||||||||||
1,817,423 | Kimco Realty Corp. | 35,003,567 | 3.1 | ||||||||||||||||
643,300 | LaSalle Hotel Properties | 15,509,963 | 1.4 | ||||||||||||||||
633,000 | Liberty Property Trust | 22,047,390 | 2.0 | ||||||||||||||||
629,725 | Macerich Co. | 35,579,462 | 3.2 | ||||||||||||||||
212,681 | Pebblebrook Hotel Trust | 4,434,399 | 0.4 | ||||||||||||||||
481,300 | Post Properties, Inc. | 23,646,269 | 2.1 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Financials: (continued) | |||||||||||||||||||
1,432,602 | ProLogis, Inc. | $ | 48,622,512 | 4.4 | |||||||||||||||
344,102 | Public Storage, Inc. | 48,394,505 | 4.3 | ||||||||||||||||
133,700 | @ | Realogy Holdings Corp. | 5,041,827 | 0.5 | |||||||||||||||
256,300 | Regency Centers Corp. | 12,007,655 | 1.1 | ||||||||||||||||
821,189 | Simon Property Group, Inc. | 124,927,483 | 11.2 | ||||||||||||||||
379,500 | SL Green Realty Corp. | 28,606,710 | 2.6 | ||||||||||||||||
517,000 | Tanger Factory Outlet Centers, Inc. | 16,998,960 | 1.5 | ||||||||||||||||
298,000 | Taubman Centers, Inc. | 23,086,060 | 2.1 | ||||||||||||||||
1,301,704 | UDR, Inc. | 29,952,209 | 2.7 | ||||||||||||||||
703,957 | Ventas, Inc. | 44,806,863 | 4.0 | ||||||||||||||||
333,264 | Vornado Realty Trust | 25,471,368 | 2.3 | ||||||||||||||||
Total Common Stock (Cost $756,653,376) | 1,100,620,641 | 98.7 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 1.3% | |||||||||||||||||||
Mutual Funds: 1.3% | |||||||||||||||||||
14,100,482 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $14,100,482) | 14,100,482 | 1.3 | ||||||||||||||||
Total Short-Term Investments (Cost $14,100,482) | 14,100,482 | 1.3 | |||||||||||||||||
Total Investments in Securities (Cost $770,753,858) | $ | 1,114,721,123 | 100.0 | ||||||||||||||||
Assets in Excess of Other Liabilities | 528,032 | — | |||||||||||||||||
Net Assets | $ | 1,115,249,155 | 100.0 |
@ | Non-income producing security |
Cost for federal income tax purposes is $879,263,193. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 237,853,346 | ||||
Gross Unrealized Depreciation | (2,395,416 | ) | ||||
Net Unrealized Appreciation | $ | 235,457,930 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 1,100,620,641 | $ | — | $ | — | $ | 1,100,620,641 | ||||||||||
Short-Term Investments | 14,100,482 | — | — | 14,100,482 | ||||||||||||||
Total Investments, at fair value | $ | 1,114,721,123 | $ | — | $ | — | $ | 1,114,721,123 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 95.2% | |||||||||||||||||||
Consumer Discretionary: 18.1% | |||||||||||||||||||
83,511 | Cooper Tire & Rubber Co. | $ | 2,086,105 | 1.0 | |||||||||||||||
109,100 | @ | Express, Inc. | 1,628,863 | 0.8 | |||||||||||||||
85,900 | Finish Line | 1,772,117 | 0.9 | ||||||||||||||||
59,300 | @ | Jack in the Box, Inc. | 1,633,715 | 0.8 | |||||||||||||||
52,319 | @ | Life Time Fitness, Inc. | 2,462,132 | 1.2 | |||||||||||||||
52,950 | Monro Muffler, Inc. | 1,698,636 | 0.9 | ||||||||||||||||
41,255 | Pool Corp. | 1,728,172 | 0.9 | ||||||||||||||||
64,200 | @ | Sally Beauty Holdings, Inc. | 1,627,470 | 0.8 | |||||||||||||||
27,658 | Vail Resorts, Inc. | 1,557,699 | 0.8 | ||||||||||||||||
859,193 | Other Securities(a) | 19,849,912 | 10.0 | ||||||||||||||||
36,044,821 | 18.1 | ||||||||||||||||||
Consumer Staples: 2.0% | |||||||||||||||||||
32,500 | Casey’s General Stores, Inc. | 1,605,500 | 0.8 | ||||||||||||||||
75,850 | Other Securities | 2,400,712 | 1.2 | ||||||||||||||||
4,006,212 | 2.0 | ||||||||||||||||||
Energy: 6.1% | |||||||||||||||||||
73,900 | @ | Carrizo Oil & Gas, Inc. | 1,533,425 | 0.8 | |||||||||||||||
26,300 | @ | Dril-Quip, Inc. | 1,850,731 | 0.9 | |||||||||||||||
34,900 | @ | Rosetta Resources, Inc. | 1,568,406 | 0.8 | |||||||||||||||
35,500 | @ | Unit Corp. | 1,594,660 | 0.8 | |||||||||||||||
388,147 | Other Securities(a) | 5,492,372 | 2.8 | ||||||||||||||||
12,039,594 | 6.1 | ||||||||||||||||||
Financials: 8.0% | |||||||||||||||||||
13,800 | @ | Affiliated Managers Group, Inc. | 1,778,406 | 0.9 | |||||||||||||||
68,087 | @ | Financial Engines, Inc. | 1,785,241 | 0.9 | |||||||||||||||
28,200 | Home Properties, Inc. | 1,660,698 | 0.8 | ||||||||||||||||
24,441 | @ | Signature Bank | 1,714,781 | 0.9 | |||||||||||||||
50,634 | @ | Stifel Financial Corp. | 1,540,286 | 0.8 | |||||||||||||||
30,100 | @ | SVB Financial Group | 1,662,122 | 0.8 | |||||||||||||||
52,000 | Tanger Factory Outlet Centers, Inc. | 1,709,760 | 0.8 | ||||||||||||||||
334,614 | Other Securities | 4,115,148 | 2.1 | ||||||||||||||||
15,966,442 | 8.0 | ||||||||||||||||||
Health Care: 17.9% | |||||||||||||||||||
27,200 | Chemed Corp. | 1,851,776 | 0.9 | ||||||||||||||||
21,215 | @ | Haemonetics Corp. | 1,719,051 | 0.9 | |||||||||||||||
92,144 | @ | Healthsouth Corp. | 2,026,247 | 1.0 | |||||||||||||||
74,600 | @ | Masimo Corp. | 1,545,712 | 0.8 | |||||||||||||||
19,719 | @ | Mednax, Inc. | 1,557,801 | 0.8 | |||||||||||||||
1,275,690 | Other Securities(a) | 26,854,111 | 13.5 | ||||||||||||||||
35,554,698 | 17.9 | ||||||||||||||||||
Industrials: 17.7% | |||||||||||||||||||
71,016 | Actuant Corp. | 2,043,130 | 1.0 | ||||||||||||||||
37,800 | Acuity Brands, Inc. | 2,500,470 | 1.2 | ||||||||||||||||
46,500 | @ | EnPro Industries, Inc. | 1,826,520 | 0.9 | |||||||||||||||
26,700 | @ | Genesee & Wyoming, Inc. | 1,947,765 | 1.0 | |||||||||||||||
55,187 | @ | HUB Group, Inc. | 1,786,403 | 0.9 | |||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Industrials: (continued) | |||||||||||||||||||
123,800 | Knight Transportation, Inc. | $ | 1,860,714 | 0.9 | |||||||||||||||
20,167 | @ | Portfolio Recovery Associates, Inc. | 1,992,903 | 1.0 | |||||||||||||||
51,300 | Simpson Manufacturing Co., Inc. | 1,678,023 | 0.8 | ||||||||||||||||
27,100 | @ | Teledyne Technologies, Inc. | 1,707,300 | 0.9 | |||||||||||||||
38,000 | Toro Co. | 1,704,680 | 0.9 | ||||||||||||||||
58,066 | Waste Connections, Inc. | 1,911,533 | 1.0 | ||||||||||||||||
48,700 | Woodward Governor Co. | 1,780,959 | 0.9 | ||||||||||||||||
383,445 | Other Securities | 12,523,654 | 6.3 | ||||||||||||||||
35,264,054 | 17.7 | ||||||||||||||||||
Information Technology: 21.4% | |||||||||||||||||||
107,800 | @ | Aruba Networks, Inc. | 2,099,944 | 1.0 | |||||||||||||||
87,600 | @ | Aspen Technology, Inc. | 2,276,724 | 1.1 | |||||||||||||||
79,726 | Blackbaud, Inc. | 1,781,079 | 0.9 | ||||||||||||||||
78,933 | @ | Cardtronics, Inc. | 1,810,723 | 0.9 | |||||||||||||||
37,800 | @ | Liquidity Services, Inc. | 1,552,068 | 0.8 | |||||||||||||||
39,200 | @ | Micros Systems, Inc. | 1,703,632 | 0.9 | |||||||||||||||
106,000 | @ | Parametric Technology Corp. | 2,145,440 | 1.1 | |||||||||||||||
71,600 | @ | Semtech Corp. | 1,958,260 | 1.0 | |||||||||||||||
58,700 | @ | Synaptics, Inc. | 1,568,464 | 0.8 | |||||||||||||||
1,636,995 | Other Securities(a) | 25,778,444 | 12.9 | ||||||||||||||||
42,674,778 | 21.4 | ||||||||||||||||||
Materials: 4.0% | |||||||||||||||||||
52,300 | HB Fuller Co. | 1,718,055 | 0.9 | ||||||||||||||||
69,800 | Worthington Industries | 1,644,488 | 0.8 | ||||||||||||||||
293,793 | Other Securities | 4,518,318 | 2.3 | ||||||||||||||||
7,880,861 | 4.0 | ||||||||||||||||||
Total Common Stock (Cost $175,864,507) | 189,431,460 | 95.2 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 1.9% | |||||||||||||||||||
41,803 | iShares Russell 2000 Growth Index Fund | 3,908,998 | 1.9 | ||||||||||||||||
Total Exchange-Traded Funds (Cost $3,717,196) | 3,908,998 | 1.9 | |||||||||||||||||
Total Long-Term Investments (Cost $179,581,703) | 193,340,458 | 97.1 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 5.5% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.9% | |||||||||||||||||||
523,802 | Cantor Fitzgerald, Repurchase Agreement dated 11/30/12, 0.26%, due 12/03/12 (Repurchase Amount $523,813, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–8.750%, Market Value plus accrued interest $534,278, due 02/12/13–10/20/62) | $ | 523,802 | 0.3 | |||||||||||||||
1,339,276 | Citigroup, Inc., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,339,302, collateralized by various U.S. Government Agency Obligations, 2.233%–5.000%, Market Value plus accrued interest $1,366,062, due 03/01/21–12/01/42) | 1,339,276 | 0.7 | ||||||||||||||||
1,339,276 | Goldman Sachs & Co., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,339,302, collateralized by various U.S. Government Agency Obligations, 2.120%–4.500%, Market Value plus accrued interest $1,366,062, due 08/01/24–11/01/42) | 1,339,276 | 0.7 | ||||||||||||||||
1,339,276 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 11/30/12, 0.20%, due 12/03/12 (Repurchase Amount $1,339,298, collateralized by various U.S. Government Agency Obligations, 0.000%, Market Value plus accrued interest $1,366,070, due 05/31/13) | 1,339,276 | 0.7 | ||||||||||||||||
1,097,427 | Nomura Securities, Repurchase Agreement dated 11/30/12, 0.27%, due 12/03/12 (Repurchase Amount $1,097,451, collateralized by various U.S. Government Agency Obligations, 2.500%–10.500%, Market Value plus accrued interest $979,514, due 06/15/16–11/01/47) | 1,097,427 | 0.5 | ||||||||||||||||
5,639,057 | 2.9 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 2.6% | |||||||||||||||||||
5,212,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $5,212,000) | $ | 5,212,000 | 2.6 | |||||||||||||||
Total Short-Term Investments (Cost $10,851,057) | 10,851,057 | 5.5 | |||||||||||||||||
Total Investments in Securities (Cost $190,432,760) | $ | 204,191,515 | 102.6 | ||||||||||||||||
Liabilities in Excess of Other Assets | (5,203,141 | ) | (2.6 | ) | |||||||||||||||
Net Assets | $ | 198,988,374 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
(a) | This grouping contains securities on loan. |
Cost for federal income tax purposes is $192,707,195. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 23,454,332 | ||||
Gross Unrealized Depreciation | (11,970,012 | ) | ||||
Net Unrealized Appreciation | $ | 11,484,320 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 189,431,460 | $ | — | $ | — | $ | 189,431,460 | ||||||||||
Exchange-Traded Funds | 3,908,998 | — | — | 3,908,998 | ||||||||||||||
Short-Term Investments | 5,212,000 | 5,639,057 | — | 10,851,057 | ||||||||||||||
Total Investments, at fair value | $ | 198,552,458 | $ | 5,639,057 | $ | — | $ | 204,191,515 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 99.2% | |||||||||||||||||||
Consumer Discretionary: 11.1% | |||||||||||||||||||
113,700 | CBS Corp. — Class B | $ | 4,090,926 | 1.4 | |||||||||||||||
152,700 | Comcast Corp. — Class A | 5,677,386 | 1.9 | ||||||||||||||||
93,900 | @ | Delphi Automotive PLC | 3,191,661 | 1.1 | |||||||||||||||
87,800 | Foot Locker, Inc. | 3,146,752 | 1.1 | ||||||||||||||||
182,800 | Lowe’s Cos., Inc. | 6,597,252 | 2.3 | ||||||||||||||||
90,200 | Macy’s, Inc. | 3,490,740 | 1.2 | ||||||||||||||||
159,800 | Newell Rubbermaid, Inc. | 3,485,238 | 1.2 | ||||||||||||||||
55,900 | Other Securities | 2,744,131 | 0.9 | ||||||||||||||||
32,424,086 | 11.1 | ||||||||||||||||||
Consumer Staples: 6.9% | |||||||||||||||||||
134,200 | Coca-Cola Enterprises, Inc. | 4,184,356 | 1.4 | ||||||||||||||||
41,600 | JM Smucker Co. | 3,679,936 | 1.3 | ||||||||||||||||
106,400 | @ | Kraft Foods Group, Inc. | 4,811,408 | 1.6 | |||||||||||||||
38,700 | Philip Morris International, Inc. | 3,478,356 | 1.2 | ||||||||||||||||
56,700 | Wal-Mart Stores, Inc. | 4,083,534 | 1.4 | ||||||||||||||||
20,237,590 | 6.9 | ||||||||||||||||||
Energy: 15.5% | |||||||||||||||||||
48,000 | @ | Ensco PLC | 2,795,040 | 1.0 | |||||||||||||||
29,500 | EOG Resources, Inc. | 3,469,790 | 1.2 | ||||||||||||||||
244,500 | ExxonMobil Corp. | 21,550,230 | 7.3 | ||||||||||||||||
176,200 | Halliburton Co. | 5,876,270 | 2.0 | ||||||||||||||||
44,900 | National Oilwell Varco, Inc. | 3,066,670 | 1.0 | ||||||||||||||||
90,300 | @ | Rowan Companies PLC | 2,865,219 | 1.0 | |||||||||||||||
43,200 | Royal Dutch Shell PLC — Class A ADR | 2,893,104 | 1.0 | ||||||||||||||||
124,600 | Statoil ASA ADR | 3,038,994 | 1.0 | ||||||||||||||||
45,555,317 | 15.5 | ||||||||||||||||||
Financials: 25.0% | |||||||||||||||||||
57,900 | Ameriprise Financial, Inc. | 3,512,793 | 1.2 | ||||||||||||||||
110,700 | BB&T Corp. | 3,118,419 | 1.1 | ||||||||||||||||
121,300 | Citigroup, Inc. | 4,193,341 | 1.4 | ||||||||||||||||
61,500 | EPR Properties | 2,789,025 | 1.0 | ||||||||||||||||
265,000 | Fifth Third Bancorp. | 3,879,600 | 1.3 | ||||||||||||||||
207,400 | JPMorgan Chase & Co. | 8,519,992 | 2.9 | ||||||||||||||||
143,800 | Lincoln National Corp. | 3,551,860 | 1.2 | ||||||||||||||||
63,800 | PNC Financial Services Group, Inc. | 3,581,732 | 1.2 | ||||||||||||||||
61,100 | Prudential Financial, Inc. | 3,184,532 | 1.1 | ||||||||||||||||
138,700 | SunTrust Bank | 3,765,705 | 1.3 | ||||||||||||||||
59,800 | Travelers Cos., Inc. | 4,235,036 | 1.5 | ||||||||||||||||
174,000 | US Bancorp. | 5,613,240 | 1.9 | ||||||||||||||||
116,100 | Weingarten Realty Investors | 3,155,598 | 1.1 | ||||||||||||||||
296,400 | Wells Fargo & Co. | 9,784,164 | 3.3 | ||||||||||||||||
156,100 | XL Group PLC | 3,797,913 | 1.3 | ||||||||||||||||
581,700 | Other Securities | 6,650,931 | 2.2 | ||||||||||||||||
73,333,881 | 25.0 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Health Care: 10.5% | |||||||||||||||||||
49,700 | Abbott Laboratories | $ | 3,230,500 | 1.1 | |||||||||||||||
61,900 | Eli Lilly & Co. | 3,035,576 | 1.0 | ||||||||||||||||
72,900 | Medtronic, Inc. | 3,069,819 | 1.1 | ||||||||||||||||
218,200 | Merck & Co., Inc. | 9,666,260 | 3.3 | ||||||||||||||||
475,800 | Pfizer, Inc. | 11,904,516 | 4.0 | ||||||||||||||||
30,906,671 | 10.5 | ||||||||||||||||||
Industrials: 9.1% | |||||||||||||||||||
85,700 | Ametek, Inc. | 3,199,181 | 1.1 | ||||||||||||||||
45,000 | Boeing Co. | 3,342,600 | 1.1 | ||||||||||||||||
67,800 | Fluor Corp. | 3,598,824 | 1.2 | ||||||||||||||||
60,100 | General Dynamics Corp. | 3,996,650 | 1.4 | ||||||||||||||||
448,100 | General Electric Co. | 9,468,353 | 3.2 | ||||||||||||||||
25,400 | Union Pacific Corp. | 3,118,612 | 1.1 | ||||||||||||||||
26,724,220 | 9.1 | ||||||||||||||||||
Information Technology: 6.3% | |||||||||||||||||||
79,400 | Automatic Data Processing, Inc. | 4,506,744 | 1.6 | ||||||||||||||||
390,900 | Cisco Systems, Inc. | 7,391,919 | 2.5 | ||||||||||||||||
118,700 | Microchip Technology, Inc. | 3,610,854 | 1.2 | ||||||||||||||||
108,700 | Microsoft Corp. | 2,893,594 | 1.0 | ||||||||||||||||
18,403,111 | 6.3 | ||||||||||||||||||
Materials: 4.9% | |||||||||||||||||||
96,600 | Freeport-McMoRan Copper & Gold, Inc. | 3,768,366 | 1.3 | ||||||||||||||||
90,100 | International Paper Co. | 3,346,314 | 1.2 | ||||||||||||||||
93,000 | Nucor Corp. | 3,829,740 | 1.3 | ||||||||||||||||
91,700 | Packaging Corp. of America | 3,341,548 | 1.1 | ||||||||||||||||
14,285,968 | 4.9 | ||||||||||||||||||
Telecommunication Services: 3.8% | |||||||||||||||||||
131,400 | CenturyTel, Inc. | 5,103,576 | 1.7 | ||||||||||||||||
138,300 | Verizon Communications, Inc. | 6,101,796 | 2.1 | ||||||||||||||||
11,205,372 | 3.8 | ||||||||||||||||||
Utilities: 6.1% | |||||||||||||||||||
201,300 | CenterPoint Energy, Inc. | 3,971,649 | 1.4 | ||||||||||||||||
69,900 | DTE Energy Co. | 4,234,542 | 1.4 | ||||||||||||||||
50,900 | Entergy Corp. | 3,234,186 | 1.1 | ||||||||||||||||
177,700 | Great Plains Energy, Inc. | 3,598,425 | 1.2 | ||||||||||||||||
162,500 | NV Energy, Inc. | 2,978,625 | 1.0 | ||||||||||||||||
162,000 | Other Securities(a) | — | — | ||||||||||||||||
18,017,427 | 6.1 | ||||||||||||||||||
Total Common Stock (Cost $279,785,515) | $ | 291,093,643 | 99.2 | ||||||||||||||||
Assets in Excess of Other Liabilities | 2,227,169 | 0.8 | |||||||||||||||||
Net Assets | $ | 293,320,812 | 100.0 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
@ | Non-income producing security |
ADR | American Depositary Receipt |
(a) | This grouping contains securities on loan. |
Cost for federal income tax purposes is $279,895,899. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 11,688,478 | ||||
Gross Unrealized Depreciation | (490,734 | ) | ||||
Net Unrealized Appreciation | $ | 11,197,744 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Consumer Discretionary | $ | 32,424,086 | $ | — | $ | — | $ | 32,424,086 | ||||||||||
Consumer Staples | 20,237,590 | — | — | 20,237,590 | ||||||||||||||
Energy | 45,555,317 | — | — | 45,555,317 | ||||||||||||||
Financials | 73,333,881 | — | — | 73,333,881 | ||||||||||||||
Health Care | 30,906,671 | — | — | 30,906,671 | ||||||||||||||
Industrials | 26,724,220 | — | — | 26,724,220 | ||||||||||||||
Information Technology | 18,403,111 | — | — | 18,403,111 | ||||||||||||||
Materials | 14,285,968 | — | — | 14,285,968 | ||||||||||||||
Telecommunication Services | 11,205,372 | — | — | 11,205,372 | ||||||||||||||
Utilities | 18,017,427 | — | — | 18,017,427 | ||||||||||||||
Total Common Stock | 291,093,643 | — | — | 291,093,643 | ||||||||||||||
Total Investments, at fair value | $ | 291,093,643 | $ | — | $ | — | $ | 291,093,643 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Committee. Among other matters, the Contracts Committee provides oversight with respect to the Contract Review Process, and each Fund is assigned to an IRC which provides oversight regarding, among other matters, the investment performance of the Adviser and Sub-Advisers, as well as the oversight by the Adviser of the performance of the Sub-Advisers. The IRCs may apply a heightened level of scrutiny in cases where performance has lagged a Fund’s relevant benchmark and/or selected peer group of investment companies (“Selected Peer Groups”).
standalone company. The Board further noted that this separation may result in the Adviser and ING IM’s loss of access to the services and resources of their current ultimate parent company, which could adversely affect its businesses and profitability. The Board recognized that, if the separation plans are deemed to be a change of control, the investment advisory and sub-advisory agreements for the Funds would terminate and trigger the necessity for new agreements, which would require the approval of the Board and, potentially, the shareholders of a Fund. The Board also recognized that there can be no assurance that the separation plan will be carried out. The Board considered the potential effects of the separation on the Funds, the Adviser, and ING IM, including its ability prior to, during and after the separation to perform the same level of service to the Funds as the Adviser and ING IM currently provides. In this regard, the Board noted that the Adviser and ING IM did not currently anticipate that the separation would have a material adverse impact on the Funds or their operations and administration.
The Board also noted that the Adviser regularly monitors performance, personnel, compliance and a myriad of other issues that may arise on a day-to-day basis with regards to the Sub-Advisers and noted that, if issues are identified either through formal or informal processes, they are brought before the IRCs and the Board for consideration and action and the Adviser consistently makes its resources available to the Board and the IRCs to assist with addressing any issues that arise.
considered at its November 29, 2012 meeting certain additional data regarding performance and Fund asset levels as of October 31, 2012. The Board’s findings specific to each Fund’s performance are discussed under “Fund-by-Fund Analysis” below.
Sub-Advisers traditionally have not accounted for their profits on an account-by-account basis.
year-to-date, one-year, and three-year periods, but underperformed for the most recent calendar quarter, five-year, and ten-year periods; and (3) the Fund is ranked in the first (highest) quintile of its Morningstar category for the year-to-date, one-year, and three-year periods, the second quintile for the most recent calendar quarter and five-year periods, and the third quintile for the ten-year period.
2012: (1) the Fund outperformed its Morningstar category median for all periods presented; (2) the Fund outperformed its primary benchmark for all periods presented; and (3) the Fund is ranked in the first (highest) quintile of its Morningstar category for the three-year, five-year, and ten-year periods, the second quintile for the one-year period, and the third quintile for the most recent calendar quarter and year-to-date periods.
(highest) quintile of its Morningstar category for the most recent calendar quarter, one-year, three-year, and five-year periods, the second quintile for the year-to-date period, and the third quintile for the ten-year period.
reorganization of ING Value Choice Fund (“Value Choice Fund”) with and into ING Large Cap Value Fund (“Large Cap Value Fund”), subject to shareholder approval of the reorganization; (2) terminate Tradewinds Global Investors, LLC (“Tradewinds”) as sub-adviser to Value Choice Fund effective November 13, 2012; (3) appoint ING IM as sub-adviser to Value Choice Fund effective as of the close of business on November 13, 2012; (4) approve an interim sub-advisory agreement with ING IM that became effective on November 30, 2012 (the “Interim Agreement”), under which ING IM serves as the sub-adviser to Value Choice Fund and provides day-to-day management services to Value Choice Fund for a period of up to 150 days; and (5) approve a new sub-advisory contract (“Sub-Advisory Contract”) with ING IM under which it would continue to serve as Sub-Adviser to the Fund upon expiration of the 150 day period of the Interim Agreement. The Sub-Advisory Contract is subject to shareholder approval and is expected to become effective in March 2013. The Interim Agreement was put into place to bridge the period between the termination of Tradewinds and the date of a Special Meeting of Shareholders that was called for the purpose of determining whether to approve the Sub-Advisory Contract.
ING Investments, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
ING Funds Services, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
ING Investments Distributor, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
BNY Mellon Investment Servicing (U.S.) Inc.
301 Bellevue Parkway
Wilmington, Delaware 19809
The Bank of New York Mellon
One Wall Street
New York, New York 10286
Dechert LLP
1900 K Street, N.W.
Washington, D.C. 20006
Item 2. Code of Ethics.
Not required for semi-annual filing.
Item 3. Audit Committee Financial Expert.
Not required for semi-annual filing.
Item 4. Principal Accountant Fees and Services.
Not required for semi-annual filing.
Item 5. Audit Committee Of Listed Registrants.
Not required for semi-annual filing.
Item 6. Schedule of Investments.
For the Portfolios that have a complete Schedule of investments, the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.1% | |||||||||||||||||||
Consumer Discretionary: 16.7% | |||||||||||||||||||
61,180 | Comcast Corp. — Class A | 2,274,672 | 2.3 | ||||||||||||||||
39,000 | @ | Delphi Automotive PLC | 1,325,610 | 1.3 | |||||||||||||||
25,770 | @ | Discovery Communications, Inc. — Class A | 1,556,766 | 1.6 | |||||||||||||||
33,940 | Foot Locker, Inc. | 1,216,409 | 1.2 | ||||||||||||||||
32,160 | Gap, Inc. | 1,108,234 | 1.1 | ||||||||||||||||
28,150 | Home Depot, Inc. | 1,831,720 | 1.9 | ||||||||||||||||
25,830 | Macy’s, Inc. | 999,621 | 1.0 | ||||||||||||||||
19,825 | @ | Michael Kors Holdings Ltd. | 1,053,699 | 1.1 | |||||||||||||||
13,910 | Petsmart, Inc. | 982,881 | 1.0 | ||||||||||||||||
2,260 | @ | Priceline.com, Inc. | 1,498,742 | 1.5 | |||||||||||||||
24,050 | Scripps Networks Interactive—Class A | 1,419,912 | 1.4 | ||||||||||||||||
26,900 | Wyndham Worldwide Corp. | 1,320,521 | 1.3 | ||||||||||||||||
16,588,787 | 16.7 | ||||||||||||||||||
Consumer Staples: 9.6% | |||||||||||||||||||
46,830 | Coca-Cola Enterprises, Inc. | 1,460,160 | 1.4 | ||||||||||||||||
19,980 | Costco Wholesale Corp. | 2,077,720 | 2.1 | ||||||||||||||||
14,890 | JM Smucker Co. | 1,317,169 | 1.3 | ||||||||||||||||
37,900 | Mondelez International, Inc. | 981,231 | 1.0 | ||||||||||||||||
34,110 | Wal-Mart Stores, Inc. | 2,456,602 | 2.5 | ||||||||||||||||
13,740 | Whole Foods Market, Inc. | 1,282,766 | 1.3 | ||||||||||||||||
9,575,648 | 9.6 | ||||||||||||||||||
Energy: 5.0% | |||||||||||||||||||
34,150 | @ | Cameron International Corp. | 1,842,392 | 1.9 | |||||||||||||||
53,050 | @ | Denbury Resources, Inc. | 818,562 | 0.8 | |||||||||||||||
10,110 | EOG Resources, Inc. | 1,189,138 | 1.2 | ||||||||||||||||
16,040 | National Oilwell Varco, Inc. | 1,095,532 | 1.1 | ||||||||||||||||
4,945,624 | 5.0 | ||||||||||||||||||
Financials: 4.7% | |||||||||||||||||||
7,920 | @ | Affiliated Managers Group, Inc. | 1,020,651 | 1.0 | |||||||||||||||
8,760 | Blackrock, Inc. | 1,726,070 | 1.8 | ||||||||||||||||
24,740 | JPMorgan Chase & Co. | 1,016,319 | 1.0 | ||||||||||||||||
12,140 | Travelers Cos., Inc. | 859,755 | 0.9 | ||||||||||||||||
4,622,795 | 4.7 | ||||||||||||||||||
Health Care: 11.7% | |||||||||||||||||||
12,340 | @ | Alexion Pharmaceuticals, Inc. | 1,184,887 | 1.2 | |||||||||||||||
8,500 | @ | Biogen Idec, Inc. | 1,267,265 | 1.3 | |||||||||||||||
21,270 | Cooper Cos., Inc. | 2,019,374 | 2.0 | ||||||||||||||||
31,270 | @ | Cyberonics | 1,616,659 | 1.6 | |||||||||||||||
24,000 | @ | Express Scripts Holding Co. | 1,292,400 | 1.3 | |||||||||||||||
27,420 | @ | Gilead Sciences, Inc. | 2,056,500 | 2.1 | |||||||||||||||
39,790 | Resmed, Inc. | 1,634,971 | 1.7 | ||||||||||||||||
11,410 | @ | Salix Pharmaceuticals Ltd. | 488,918 | 0.5 | |||||||||||||||
11,560,974 | 11.7 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Industrials: 12.6% | |||||||||||||||||||
29,220 | Ametek, Inc. | 1,090,783 | 1.1 | ||||||||||||||||
36,048 | Danaher Corp. | 1,945,511 | 2.0 | ||||||||||||||||
23,860 | Equifax, Inc. | 1,222,586 | 1.2 | ||||||||||||||||
8,580 | @ | IHS, Inc. | 790,561 | 0.8 | |||||||||||||||
18,520 | Nordson Corp. | 1,133,239 | 1.1 | ||||||||||||||||
17,515 | Regal-Beloit Corp. | 1,221,671 | 1.2 | ||||||||||||||||
15,754 | Roper Industries, Inc. | 1,757,044 | 1.8 | ||||||||||||||||
17,100 | Union Pacific Corp. | 2,099,538 | 2.1 | ||||||||||||||||
39,160 | Waste Connections, Inc. | 1,289,147 | 1.3 | ||||||||||||||||
12,550,080 | 12.6 | ||||||||||||||||||
Information Technology: 33.8% | |||||||||||||||||||
13,994 | Apple, Inc. | 8,190,408 | 8.3 | ||||||||||||||||
30,680 | @ | Autodesk, Inc. | 1,016,429 | 1.0 | |||||||||||||||
69,670 | @ | EMC Corp. | 1,729,209 | 1.7 | |||||||||||||||
11,940 | @ | F5 Networks, Inc. | 1,118,539 | 1.1 | |||||||||||||||
59,090 | Flir Systems, Inc. | 1,205,436 | 1.2 | ||||||||||||||||
5,910 | @ | Google, Inc. — Class A | 4,127,367 | 4.2 | |||||||||||||||
15,930 | International Business Machines Corp. | 3,027,815 | 3.1 | ||||||||||||||||
23,780 | Intuit, Inc. | 1,424,660 | 1.4 | ||||||||||||||||
70,400 | @ | Juniper Networks, Inc. | 1,265,792 | 1.3 | |||||||||||||||
42,910 | @ | NetApp, Inc. | 1,360,676 | 1.4 | |||||||||||||||
69,790 | Nvidia Corp. | 836,084 | 0.8 | ||||||||||||||||
67,423 | Oracle Corp. | 2,164,278 | 2.2 | ||||||||||||||||
31,990 | Qualcomm, Inc. | 2,035,204 | 2.1 | ||||||||||||||||
16,400 | @ | Teradata Corp. | 975,472 | 1.0 | |||||||||||||||
11,310 | Visa, Inc. | 1,693,220 | 1.7 | ||||||||||||||||
38,430 | Xilinx, Inc. | 1,331,600 | 1.3 | ||||||||||||||||
33,502,189 | 33.8 | ||||||||||||||||||
Materials: 4.0% | |||||||||||||||||||
19,330 | Eastman Chemical Co. | 1,176,230 | 1.2 | ||||||||||||||||
25,470 | Freeport-McMoRan Copper & Gold, Inc. | 993,585 | 1.0 | ||||||||||||||||
28,720 | International Paper Co. | 1,066,661 | 1.1 | ||||||||||||||||
56,440 | Steel Dynamics, Inc. | 729,205 | 0.7 | ||||||||||||||||
3,965,681 | 4.0 | ||||||||||||||||||
Total Common Stock (Cost $81,679,306) | 97,311,778 | 98.1 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 0.6% | |||||||||||||||||||
Mutual Funds: 0.6% | |||||||||||||||||||
564,000 | BlackRock Liquidity Funds, TempFund, Institutional Class | ||||||||||||||||||
(Cost $564,000) | 564,000 | 0.6 | |||||||||||||||||
Total Short-Term Investments (Cost $564,000) | 564,000 | 0.6 | |||||||||||||||||
Total Investments in Securities (Cost $82,243,306) | $ | 97,875,778 | 98.7 | ||||||||||||||||
Assets in Excess of Other Liabilities | 1,247,607 | 1.3 | |||||||||||||||||
Net Assets | $ | 99,123,385 | 100.0 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
@ | Non-income producing security |
Cost for federal income tax purposes is $82,500,473. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 17,101,871 | ||||
Gross Unrealized Depreciation | (1,726,566 | ) | ||||
Net Unrealized Appreciation | $ | 15,375,305 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 97,311,778 | $ | — | $ | — | $ | 97,311,778 | ||||||||||
Short-Term Investments | 564,000 | — | — | 564,000 | ||||||||||||||
Total Investments, at fair value | $ | 97,875,778 | $ | — | $ | — | $ | 97,875,778 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 94.3% | |||||||||||||||||||
Consumer Discretionary: 9.1% | |||||||||||||||||||
221,817 | Comcast Corp. — Class A | 8,247,156 | 1.9 | ||||||||||||||||
136,263 | @ | Delphi Automotive PLC | 4,631,579 | 1.1 | |||||||||||||||
127,775 | Foot Locker, Inc. | 4,579,456 | 1.0 | ||||||||||||||||
269,734 | Lowe’s Cos., Inc. | 9,734,700 | 2.2 | ||||||||||||||||
131,607 | Macy’s, Inc. | 5,093,191 | 1.2 | ||||||||||||||||
67,353 | @ | Penn National Gaming, Inc. | 3,422,880 | 0.8 | |||||||||||||||
64,242 | Six Flags Entertainment Corp. | 3,949,598 | 0.9 | ||||||||||||||||
39,658,560 | 9.1 | ||||||||||||||||||
Consumer Staples: 6.8% | |||||||||||||||||||
194,219 | Coca-Cola Enterprises, Inc. | 6,055,749 | 1.4 | ||||||||||||||||
62,226 | JM Smucker Co. | 5,504,512 | 1.3 | ||||||||||||||||
155,629 | @ | Kraft Foods Group, Inc. | 7,037,543 | 1.6 | |||||||||||||||
55,582 | Philip Morris International, Inc. | 4,995,710 | 1.1 | ||||||||||||||||
81,903 | Wal-Mart Stores, Inc. | 5,898,654 | 1.4 | ||||||||||||||||
29,492,168 | 6.8 | ||||||||||||||||||
Energy: 14.6% | |||||||||||||||||||
69,509 | @ | Ensco PLC | 4,047,509 | 0.9 | |||||||||||||||
43,187 | EOG Resources, Inc. | 5,079,655 | 1.2 | ||||||||||||||||
352,018 | ExxonMobil Corp. | 31,026,867 | 7.1 | ||||||||||||||||
254,018 | Halliburton Co. | 8,471,500 | 1.9 | ||||||||||||||||
35,346 | National Oilwell Varco, Inc. | 2,414,132 | 0.5 | ||||||||||||||||
131,226 | @ | Rowan Companies PLC | 4,163,801 | 1.0 | |||||||||||||||
62,737 | Royal Dutch Shell PLC — Class A ADR | 4,201,497 | 1.0 | ||||||||||||||||
178,250 | Statoil ASA ADR | 4,347,517 | 1.0 | ||||||||||||||||
63,752,478 | 14.6 | ||||||||||||||||||
Financials: 24.3% | |||||||||||||||||||
184,014 | AllianceBernstein Holding LP | 3,234,966 | 0.7 | ||||||||||||||||
84,970 | Ameriprise Financial, Inc. | 5,155,130 | 1.2 | ||||||||||||||||
160,104 | BB&T Corp. | 4,510,130 | 1.0 | ||||||||||||||||
171,754 | Blackstone Group LP | 2,523,066 | 0.6 | ||||||||||||||||
177,095 | Citigroup, Inc. | 6,122,174 | 1.4 | ||||||||||||||||
89,442 | EPR Properties | 4,056,195 | 0.9 | ||||||||||||||||
380,393 | Fifth Third Bancorp. | 5,568,954 | 1.3 | ||||||||||||||||
296,436 | JPMorgan Chase & Co. | 12,177,591 | 2.8 | ||||||||||||||||
206,615 | Lincoln National Corp. | 5,103,390 | 1.2 | ||||||||||||||||
90,336 | PNC Financial Services Group, Inc. | 5,071,463 | 1.2 | ||||||||||||||||
85,736 | Prudential Financial, Inc. | 4,468,560 | 1.0 | ||||||||||||||||
649,900 | Regions Financial Corp. | 4,334,833 | 1.0 | ||||||||||||||||
198,691 | SunTrust Bank | 5,394,461 | 1.2 | ||||||||||||||||
85,992 | Travelers Cos., Inc. | 6,089,953 | 1.4 | ||||||||||||||||
249,162 | US Bancorp. | 8,037,966 | 1.9 | ||||||||||||||||
165,598 | Weingarten Realty Investors | 4,500,954 | 1.0 | ||||||||||||||||
425,748 | Wells Fargo & Co. | 14,053,941 | 3.2 | ||||||||||||||||
224,245 | XL Group PLC | 5,455,881 | 1.3 | ||||||||||||||||
105,859,608 | 24.3 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Health Care: 10.2% | |||||||||||||||||||
72,065 | Abbott Laboratories | 4,684,225 | 1.1 | ||||||||||||||||
89,314 | Eli Lilly & Co. | 4,379,959 | 1.0 | ||||||||||||||||
106,308 | Medtronic, Inc. | 4,476,630 | 1.0 | ||||||||||||||||
314,580 | Merck & Co., Inc. | 13,935,894 | 3.2 | ||||||||||||||||
688,327 | Pfizer, Inc. | 17,221,941 | 3.9 | ||||||||||||||||
44,698,649 | 10.2 | ||||||||||||||||||
Industrials: 8.8% | |||||||||||||||||||
124,196 | Ametek, Inc. | 4,636,237 | 1.1 | ||||||||||||||||
65,549 | Boeing Co. | 4,868,980 | 1.1 | ||||||||||||||||
98,769 | Fluor Corp. | 5,242,659 | 1.2 | ||||||||||||||||
86,375 | General Dynamics Corp. | 5,743,937 | 1.3 | ||||||||||||||||
641,688 | General Electric Co. | 13,558,867 | 3.1 | ||||||||||||||||
37,182 | Union Pacific Corp. | 4,565,206 | 1.0 | ||||||||||||||||
38,615,886 | 8.8 | ||||||||||||||||||
Information Technology: 6.1% | |||||||||||||||||||
115,813 | Automatic Data Processing, Inc. | 6,573,546 | 1.5 | ||||||||||||||||
568,091 | Cisco Systems, Inc. | 10,742,601 | 2.5 | ||||||||||||||||
169,430 | Microchip Technology, Inc. | 5,154,060 | 1.2 | ||||||||||||||||
148,306 | Microsoft Corp. | 3,947,906 | 0.9 | ||||||||||||||||
26,418,113 | 6.1 | ||||||||||||||||||
Materials: 4.7% | |||||||||||||||||||
140,296 | Freeport-McMoRan Copper & Gold, Inc. | 5,472,947 | 1.2 | ||||||||||||||||
128,925 | International Paper Co. | 4,788,275 | 1.1 | ||||||||||||||||
133,779 | Nucor Corp. | 5,509,019 | 1.3 | ||||||||||||||||
131,735 | Packaging Corp. of America | 4,800,423 | 1.1 | ||||||||||||||||
20,570,664 | 4.7 | ||||||||||||||||||
Telecommunication Services: 3.7% | |||||||||||||||||||
190,646 | CenturyTel, Inc. | 7,404,691 | 1.7 | ||||||||||||||||
200,649 | Verizon Communications, Inc. | 8,852,634 | 2.0 | ||||||||||||||||
16,257,325 | 3.7 | ||||||||||||||||||
Utilities: 6.0% | |||||||||||||||||||
289,540 | CenterPoint Energy, Inc. | 5,712,624 | 1.3 | ||||||||||||||||
100,893 | DTE Energy Co. | 6,112,098 | 1.4 | ||||||||||||||||
73,087 | Entergy Corp. | 4,643,948 | 1.1 | ||||||||||||||||
255,167 | Great Plains Energy, Inc. | 5,167,132 | 1.2 | ||||||||||||||||
237,189 | NV Energy, Inc. | 4,347,674 | 1.0 | ||||||||||||||||
25,983,476 | 6.0 | ||||||||||||||||||
Total Common Stock (Cost $383,147,763) | 411,306,927 | 94.3 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 2.3% | |||||||||||||||||||
136,800 | iShares Russell 1000 Value Index Fund | 9,815,400 | 2.3 | ||||||||||||||||
Total Exchange-Traded Funds (Cost $9,809,650) | 9,815,400 | 2.3 | |||||||||||||||||
Total Long-Term Investments (Cost $392,957,413) | 421,122,327 | 96.6 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.9% | |||||||||||||||||||
Mutual Funds: 2.9% | |||||||||||||||||||
12,862,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $12,862,000) | 12,862,000 | 2.9 | ||||||||||||||||
Total Short-Term Investments (Cost $12,862,000) | 12,862,000 | 2.9 | |||||||||||||||||
Total Investments in Securities (Cost $405,819,413) | $ | 433,984,327 | 99.5 | ||||||||||||||||
Assets in Excess of Other Liabilities | 2,041,254 | 0.5 | |||||||||||||||||
Net Assets | $ | 436,025,581 | 100.0 |
@ | Non-income producing security |
ADR | American Depositary Receipt |
Cost for federal income tax purposes is $406,980,669. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 29,634,499 | ||||
Gross Unrealized Depreciation | (2,630,841 | ) | ||||
Net Unrealized Appreciation | $ | 27,003,658 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 411,306,927 | $ | — | $ | — | $ | 411,306,927 | ||||||||||
Exchange-Traded Funds | 9,815,400 | — | — | 9,815,400 | ||||||||||||||
Short-Term Investments | 12,862,000 | — | — | 12,862,000 | ||||||||||||||
Total Investments, at fair value | $ | 433,984,327 | $ | — | $ | — | $ | 433,984,327 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.8% | |||||||||||||||||||
Consumer Discretionary: 10.4% | |||||||||||||||||||
41,353 | @ | ANN, Inc. | 1,387,393 | 0.5 | |||||||||||||||
55,448 | @ | Ascena Retail Group, Inc. | 1,114,505 | 0.4 | |||||||||||||||
24,800 | Brunswick Corp. | 639,096 | 0.2 | ||||||||||||||||
60,900 | Dana Holding Corp. | 863,562 | 0.3 | ||||||||||||||||
25,200 | Family Dollar Stores, Inc. | 1,794,240 | 0.7 | ||||||||||||||||
50,900 | H&R Block, Inc. | 917,727 | 0.4 | ||||||||||||||||
29,841 | Jarden Corp. | 1,578,887 | 0.6 | ||||||||||||||||
42,900 | L | Lennar Corp. | 1,631,916 | 0.6 | |||||||||||||||
108,250 | Mattel, Inc. | 4,060,458 | 1.5 | ||||||||||||||||
216,400 | Newell Rubbermaid, Inc. | 4,719,684 | 1.8 | ||||||||||||||||
11,100 | Ross Stores, Inc. | 631,812 | 0.2 | ||||||||||||||||
850,500 | Samsonite International SA | 1,823,314 | 0.7 | ||||||||||||||||
36,947 | @ | Tenneco, Inc. | 1,184,890 | 0.5 | |||||||||||||||
48,700 | @ | Toll Brothers, Inc. | 1,550,608 | 0.6 | |||||||||||||||
52,370 | @ | TRW Automotive Holdings Corp. | 2,652,017 | 1.0 | |||||||||||||||
27,300 | Virgin Media, Inc. | 960,141 | 0.4 | ||||||||||||||||
27,510,250 | 10.4 | ||||||||||||||||||
Consumer Staples: 2.6% | |||||||||||||||||||
29,300 | Bunge Ltd. | 2,143,588 | 0.8 | ||||||||||||||||
12,500 | Dr Pepper Snapple Group, Inc. | 560,625 | 0.2 | ||||||||||||||||
17,891 | Energizer Holdings, Inc. | 1,426,986 | 0.5 | ||||||||||||||||
31,400 | Harris Teeter Supermarkets, Inc. | 1,192,886 | 0.5 | ||||||||||||||||
26,100 | Ingredion, Inc. | 1,695,195 | 0.6 | ||||||||||||||||
7,019,280 | 2.6 | ||||||||||||||||||
Energy: 9.9% | |||||||||||||||||||
55,100 | @ | Cameron International Corp. | 2,972,645 | 1.1 | |||||||||||||||
113,200 | @ | Cobalt International Energy, Inc. | 2,639,824 | 1.0 | |||||||||||||||
36,800 | Consol Energy, Inc. | 1,153,680 | 0.4 | ||||||||||||||||
51,750 | @ | Dresser-Rand Group, Inc. | 2,732,918 | 1.0 | |||||||||||||||
53,600 | @ | Gulfport Energy Corp. | 2,038,944 | 0.8 | |||||||||||||||
17,300 | Japan Petroleum Exploration Co. | 604,913 | 0.2 | ||||||||||||||||
107,705 | @ | Key Energy Services, Inc. | 720,546 | 0.3 | |||||||||||||||
76,350 | @ | McDermott International, Inc. | 803,966 | 0.3 | |||||||||||||||
37,200 | @ | Newfield Exploration Co. | 905,448 | 0.4 | |||||||||||||||
168,754 | @ | Noble Corp. | 5,820,324 | 2.2 | |||||||||||||||
106,900 | @ | Ocean Rig UDW, Inc. | 1,683,675 | 0.6 | |||||||||||||||
106,100 | QEP Resources, Inc. | 2,983,532 | 1.1 | ||||||||||||||||
110,200 | Trican Well Services Ltd. | 1,362,315 | 0.5 | ||||||||||||||||
26,422,730 | 9.9 | ||||||||||||||||||
Financials: 23.3% | |||||||||||||||||||
53,500 | American Assets Trust, Inc. | 1,456,805 | 0.6 | ||||||||||||||||
48,850 | American Financial Group, Inc. | 1,936,903 | 0.7 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Financials: (continued) | |||||||||||||||||||
52,510 | Ares Capital Corp. | 931,527 | 0.4 | ||||||||||||||||
58,600 | BankUnited, Inc. | 1,377,100 | 0.5 | ||||||||||||||||
81,700 | @ | Beneficial Mutual Bancorp, Inc. | 765,529 | 0.3 | |||||||||||||||
145,400 | BR Properties SA | 1,714,751 | 0.6 | ||||||||||||||||
49,600 | Comerica, Inc. | 1,467,664 | 0.6 | ||||||||||||||||
26,000 | Equity Lifestyle Properties, Inc. | 1,706,640 | 0.6 | ||||||||||||||||
26,100 | EverBank Financial Corp. | 385,758 | 0.1 | ||||||||||||||||
15,100 | @ | Everest Re Group Ltd. | 1,637,897 | 0.6 | |||||||||||||||
187,390 | Fifth Third Bancorp. | 2,743,390 | 1.0 | ||||||||||||||||
67,840 | First Midwest Bancorp., Inc. | 848,000 | 0.3 | ||||||||||||||||
79,800 | @ | Forest City Enterprises, Inc. | 1,200,990 | 0.5 | |||||||||||||||
171,300 | Hartford Financial Services Group, Inc. | 3,628,134 | 1.4 | ||||||||||||||||
49,000 | Hatteras Financial Corp. | 1,306,340 | 0.5 | ||||||||||||||||
57,350 | HCC Insurance Holdings, Inc. | 2,115,068 | 0.8 | ||||||||||||||||
250,722 | Huntington Bancshares, Inc. | 1,541,940 | 0.6 | ||||||||||||||||
14,700 | IBERIABANK Corp. | 716,625 | 0.3 | ||||||||||||||||
35,600 | Iguatemi Empresa de Shopping Centers S.A. | 433,005 | 0.2 | ||||||||||||||||
56,600 | @ | Invesco Ltd. | 1,414,434 | 0.5 | |||||||||||||||
431,380 | L | KKR Financial Holdings LLC | 4,533,804 | 1.7 | |||||||||||||||
36,000 | LaSalle Hotel Properties | 867,960 | 0.3 | ||||||||||||||||
11,032 | NYSE Euronext | 257,597 | 0.1 | ||||||||||||||||
17,700 | @ | PartnerRe Ltd. | 1,466,976 | 0.6 | |||||||||||||||
70,933 | People’s United Financial, Inc. | 864,673 | 0.3 | ||||||||||||||||
108,600 | @ | PHH Corp. | 2,379,426 | 0.9 | |||||||||||||||
31,020 | @ | Popular, Inc. | 613,265 | 0.2 | |||||||||||||||
60,800 | Principal Financial Group, Inc. | 1,650,720 | 0.6 | ||||||||||||||||
277,300 | Regions Financial Corp. | 1,849,591 | 0.7 | ||||||||||||||||
109,667 | Reinsurance Group of America, Inc. | 5,614,950 | 2.1 | ||||||||||||||||
101,952 | Tower Group, Inc. | 1,722,989 | 0.7 | ||||||||||||||||
216,700 | UnumProvident Corp. | 4,418,513 | 1.7 | ||||||||||||||||
94,700 | Weyerhaeuser Co. | 2,609,932 | 1.0 | ||||||||||||||||
67,400 | XL Group PLC | 1,639,842 | 0.6 | ||||||||||||||||
95,200 | Zions Bancorp. | 1,910,664 | 0.7 | ||||||||||||||||
61,729,402 | 23.3 | ||||||||||||||||||
Health Care: 8.9% | |||||||||||||||||||
221,713 | Almirall SA | 2,054,105 | 0.7 | ||||||||||||||||
89,400 | AmerisourceBergen Corp. | 3,774,468 | 1.4 | ||||||||||||||||
189,000 | @ | Boston Scientific Corp. | 1,047,060 | 0.4 | |||||||||||||||
93,800 | @ | Brookdale Senior Living, Inc. | 2,397,528 | 0.9 | |||||||||||||||
47,800 | Cigna Corp. | 2,498,506 | 0.9 | ||||||||||||||||
60,200 | @ | Endo Pharmaceuticals Holdings, Inc. | 1,725,332 | 0.7 | |||||||||||||||
15,850 | Humana, Inc. | 1,036,748 | 0.4 | ||||||||||||||||
82,000 | @ | Impax Laboratories, Inc. | 1,667,880 | 0.6 | |||||||||||||||
77,300 | @ | Mylan Laboratories | 2,101,014 | 0.8 | |||||||||||||||
22,827 | UCB S.A. | 1,297,033 | 0.5 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Health Care: (continued) | |||||||||||||||||||
79,900 | Universal Health Services, Inc. | 3,601,093 | 1.4 | ||||||||||||||||
49,300 | @ | Vanguard Health Systems, Inc. | 521,101 | 0.2 | |||||||||||||||
23,721,868 | 8.9 | ||||||||||||||||||
Industrials: 16.5% | |||||||||||||||||||
85,918 | @ | Acacia Research — Acacia Technologies | 1,909,957 | 0.7 | |||||||||||||||
682,545 | @ | ACCO Brands Corp. | 4,600,353 | 1.7 | |||||||||||||||
35,100 | @ | AGCO Corp. | 1,619,865 | 0.6 | |||||||||||||||
78,100 | Barnes Group, Inc. | 1,647,129 | 0.6 | ||||||||||||||||
116,500 | @ | Delta Airlines, Inc. | 1,165,000 | 0.4 | |||||||||||||||
17,200 | Dover Corp. | 1,093,748 | 0.4 | ||||||||||||||||
30,500 | @ | Esterline Technologies Corp. | 1,864,770 | 0.7 | |||||||||||||||
64,400 | Fluor Corp. | 3,418,352 | 1.3 | ||||||||||||||||
29,217 | Gardner Denver, Inc. | 2,040,807 | 0.8 | ||||||||||||||||
32,200 | Hubbell, Inc. | 2,712,850 | 1.0 | ||||||||||||||||
109,950 | KBR, Inc. | 3,056,610 | 1.2 | ||||||||||||||||
28,369 | @ | Kirby Corp. | 1,641,998 | 0.6 | |||||||||||||||
17,559 | @ | Old Dominion Freight Line | 587,173 | 0.2 | |||||||||||||||
23,480 | @ | Owens Corning, Inc. | 811,938 | 0.3 | |||||||||||||||
49,600 | @ | Pentair Ltd. | 2,405,104 | 0.9 | |||||||||||||||
6,250 | Regal-Beloit Corp. | 435,938 | 0.2 | ||||||||||||||||
35,230 | Republic Services, Inc. | 1,002,998 | 0.4 | ||||||||||||||||
51,200 | @ | Spirit Airlines, Inc. | 859,136 | 0.3 | |||||||||||||||
5,650 | SPX Corp. | 384,878 | 0.2 | ||||||||||||||||
13,398 | @ | Swift Transporation Co. | 113,347 | 0.0 | |||||||||||||||
28,300 | @ | Teledyne Technologies, Inc. | 1,782,900 | 0.7 | |||||||||||||||
16,200 | Triumph Group, Inc. | 1,062,882 | 0.4 | ||||||||||||||||
41,400 | @ | United Rentals, Inc. | 1,719,342 | 0.7 | |||||||||||||||
50,500 | URS Corp. | 1,902,840 | 0.7 | ||||||||||||||||
75,750 | Werner Enterprises, Inc. | 1,643,018 | 0.6 | ||||||||||||||||
34,600 | @ | Wesco International, Inc. | 2,236,890 | 0.9 | |||||||||||||||
43,719,823 | 16.5 | ||||||||||||||||||
Information Technology: 9.5% | |||||||||||||||||||
151,697 | @ | Arrow Electronics, Inc. | 5,652,230 | 2.1 | |||||||||||||||
69,400 | Avago Technologies Ltd. | 2,435,940 | 0.9 | ||||||||||||||||
45,050 | @ | Avnet, Inc. | 1,319,514 | 0.5 | |||||||||||||||
64,100 | L | Booz Allen Hamilton Holding Corp. | 898,041 | 0.3 | |||||||||||||||
7,450 | @ | CACI International, Inc. | 381,067 | 0.1 | |||||||||||||||
27,200 | @ | Check Point Software Technologies | 1,255,824 | 0.5 | |||||||||||||||
132,250 | @ | Fairchild Semiconductor International, Inc. | 1,764,215 | 0.7 | |||||||||||||||
22,100 | Harris Corp. | 1,041,573 | 0.4 | ||||||||||||||||
107,800 | @ | Microsemi Corp. | 2,063,292 | 0.8 | |||||||||||||||
39,000 | @ | Sandisk Corp. | 1,524,900 | 0.6 | |||||||||||||||
190,507 | @ | Skyworks Solutions, Inc. | 4,314,984 | 1.6 | |||||||||||||||
138,700 | @ | Teradyne, Inc. | 2,169,268 | 0.8 | |||||||||||||||
40,950 | Western Union Co. | 516,380 | 0.2 | ||||||||||||||||
25,337,228 | 9.5 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Materials: 10.8% | |||||||||||||||||||
46,330 | Allegheny Technologies, Inc. | 1,212,920 | 0.5 | ||||||||||||||||
46,578 | Ashland, Inc. | 3,303,312 | 1.2 | ||||||||||||||||
18,400 | Cabot Corp. | 694,232 | 0.3 | ||||||||||||||||
3,700 | Celanese Corp. | 151,848 | 0.1 | ||||||||||||||||
84,149 | @ | Crown Holdings, Inc. | 3,142,965 | 1.2 | |||||||||||||||
36,850 | Cytec Industries, Inc. | 2,529,384 | 1.0 | ||||||||||||||||
22,700 | FMC Corp. | 1,258,942 | 0.5 | ||||||||||||||||
202,377 | Incitec Pivot Ltd. | 665,653 | 0.2 | ||||||||||||||||
70,800 | International Paper Co. | 2,629,512 | 1.0 | ||||||||||||||||
90,600 | @ | Louisiana-Pacific Corp. | 1,578,252 | 0.6 | |||||||||||||||
70,900 | Methanex Corp. | 2,144,016 | 0.8 | ||||||||||||||||
163,070 | @ | Owens-Illinois, Inc. | 3,266,292 | 1.2 | |||||||||||||||
60,800 | Packaging Corp. of America | 2,215,552 | 0.8 | ||||||||||||||||
10,550 | Reliance Steel & Aluminum Co. | 595,020 | 0.2 | ||||||||||||||||
68,147 | Rexam PLC | 478,058 | 0.2 | ||||||||||||||||
59,656 | Schweitzer-Mauduit International, Inc. | 2,235,310 | 0.8 | ||||||||||||||||
600,000 | Yingde Gases | 595,211 | 0.2 | ||||||||||||||||
28,696,479 | 10.8 | ||||||||||||||||||
Telecommunication Services: 0.3% | |||||||||||||||||||
84,861 | L | Windstream Corp. | 711,135 | 0.3 | |||||||||||||||
Utilities: 6.6% | |||||||||||||||||||
36,600 | Alliant Energy Corp. | 1,640,412 | 0.6 | ||||||||||||||||
48,250 | CMS Energy Corp. | 1,178,748 | 0.5 | ||||||||||||||||
117,550 | Edison International | 5,346,174 | 2.0 | ||||||||||||||||
38,600 | Great Plains Energy, Inc. | 781,650 | 0.3 | ||||||||||||||||
56,800 | Northeast Utilities | 2,200,432 | 0.8 | ||||||||||||||||
120,800 | NV Energy, Inc. | 2,214,264 | 0.9 | ||||||||||||||||
72,900 | UGI Corp. | 2,421,738 | 0.9 | ||||||||||||||||
43,100 | Wisconsin Energy Corp. | 1,617,543 | 0.6 | ||||||||||||||||
17,400,961 | 6.6 | ||||||||||||||||||
Total Common Stock (Cost $243,205,467) | 262,269,156 | 98.8 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 3.7% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.6% | |||||||||||||||||||
1,669,132 | Barclays Bank PLC, Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,669,164, collateralized by various U.S. Government Agency Obligations, 3.500%-4.000%, Market Value plus accrued interest $1,702,515, due 11/01/40-07/01/42) | 1,669,132 | 0.6 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
351,395 | BNP Paribas Bank, Repurchase Agreement dated 11/30/12, 0.21%, due 12/03/12 (Repurchase Amount $351,401, collateralized by various U.S. Government Securities, 0.000%-0.875%, Market Value plus accrued interest $358,425, due 12/20/12-11/30/17) | 351,395 | 0.2 | ||||||||||||||||
1,669,132 | Citigroup, Inc., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,669,165, collateralized by various U.S. Government Agency Obligations, 2.233%-5.000%, Market Value plus accrued interest $1,702,515, due 03/01/21-12/01/42) | 1,669,132 | 0.6 | ||||||||||||||||
1,669,132 | Deutsche Bank AG, Repurchase Agreement dated 11/30/12, 0.25%, due 12/03/12 (Repurchase Amount $1,669,166, collateralized by various U.S. Government Agency Obligations, 3.000%-4.500%, Market Value plus accrued interest $1,702,515, due 08/20/41-11/15/42) | 1,669,132 | 0.6 | ||||||||||||||||
1,669,132 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,669,164, collateralized by various U.S. Government Agency Obligations, 2.459%-6.500%, Market Value plus accrued interest $1,702,515, due 11/01/22-12/01/42) | 1,669,132 | 0.6 | ||||||||||||||||
7,027,923 | 2.6 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 1.1% | ||||||||||||||||||
2,823,649 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $2,823,649) | 2,823,649 | 1.1 | |||||||||||||||
Total Short-Term Investments (Cost $9,851,572) | 9,851,572 | 3.7 | ||||||||||||||||
Total Investments in Securities (Cost $253,057,039) | $ | 272,120,728 | 102.5 | |||||||||||||||
Liabilities in Excess of Other Assets | (6,718,325 | ) | (2.5 | ) | ||||||||||||||
Net Assets | $ | 265,402,403 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at November 30, 2012. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $255,611,443. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 24,094,459 | ||||
Gross Unrealized Depreciation | (7,585,174 | ) | ||||
Net Unrealized Appreciation | $ | 16,509,285 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs # (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Consumer Discretionary | $ | 25,686,936 | $ | 1,823,314 | $ | — | $ | 27,510,250 | ||||||||||
Consumer Staples | 7,019,280 | — | — | 7,019,280 | ||||||||||||||
Energy | 25,817,817 | 604,913 | — | 26,422,730 | ||||||||||||||
Financials | 61,729,402 | — | — | 61,729,402 | ||||||||||||||
Health Care | 20,370,730 | 3,351,138 | — | 23,721,868 | ||||||||||||||
Industrials | 43,719,823 | — | — | 43,719,823 | ||||||||||||||
Information Technology | 25,337,228 | — | — | 25,337,228 | ||||||||||||||
Materials | 26,957,557 | 1,738,922 | — | 28,696,479 | ||||||||||||||
Telecommunication Services | 711,135 | — | — | 711,135 | ||||||||||||||
Utilities | 17,400,961 | — | — | 17,400,961 | ||||||||||||||
Total Common Stock | 254,750,869 | 7,518,287 | — | 262,269,156 | ||||||||||||||
Short-Term Investments | 2,823,649 | 7,027,923 | — | 9,851,572 | ||||||||||||||
Total Investments, at fair value | $ | 257,574,518 | $ | 14,546,210 | $ | — | $ | 272,120,728 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a portion of the Fund’s investments are categorized as Level 2 investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.3% | |||||||||||||||||||
Consumer Discretionary: 26.1% | |||||||||||||||||||
358,208 | Brinker International, Inc. | 10,728,330 | 1.2 | ||||||||||||||||
522,280 | @ | Delphi Automotive PLC | 17,752,297 | 2.0 | |||||||||||||||
314,620 | @ | Discovery Communications, Inc. — Class A | 19,006,194 | 2.1 | |||||||||||||||
423,025 | Foot Locker, Inc. | 15,161,216 | 1.7 | ||||||||||||||||
509,750 | Gap, Inc. | 17,565,985 | 1.9 | ||||||||||||||||
274,216 | Harley-Davidson, Inc. | 12,877,183 | 1.4 | ||||||||||||||||
83,369 | @ | Liberty Media Corp. —Liberty Capital | 9,169,756 | 1.0 | |||||||||||||||
547,090 | @,L | Lions Gate Entertainment Corp. | 8,961,334 | 1.0 | |||||||||||||||
376,701 | Macy’s, Inc. | 14,578,329 | 1.6 | ||||||||||||||||
154,620 | @ | The Madison Square Garden, Inc. | 6,772,356 | 0.7 | |||||||||||||||
260,685 | @ | Michael Kors Holdings Ltd. | 13,855,408 | 1.5 | |||||||||||||||
643,810 | Newell Rubbermaid, Inc. | 14,041,496 | 1.5 | ||||||||||||||||
143,628 | @ | Penn National Gaming, Inc. | 7,299,175 | 0.8 | |||||||||||||||
216,630 | Petsmart, Inc. | 15,307,076 | 1.7 | ||||||||||||||||
142,691 | Ross Stores, Inc. | 8,121,972 | 0.9 | ||||||||||||||||
216,990 | Scripps Networks Interactive—Class A | 12,811,090 | 1.4 | ||||||||||||||||
152,290 | Six Flags Entertainment Corp. | 9,362,789 | 1.0 | ||||||||||||||||
122,700 | @ | Ulta Salon Cosmetics & Fragrance, Inc. | 12,304,356 | 1.4 | |||||||||||||||
241,788 | Wyndham Worldwide Corp. | 11,869,373 | 1.3 | ||||||||||||||||
237,545,715 | 26.1 | ||||||||||||||||||
Consumer Staples: 6.1% | |||||||||||||||||||
142,498 | Beam, Inc. | 7,995,563 | 0.9 | ||||||||||||||||
569,839 | Coca-Cola Enterprises, Inc. | 17,767,580 | 1.9 | ||||||||||||||||
136,380 | JM Smucker Co. | 12,064,175 | 1.3 | ||||||||||||||||
193,190 | Whole Foods Market, Inc. | 18,036,218 | 2.0 | ||||||||||||||||
55,863,536 | 6.1 | ||||||||||||||||||
Energy: 6.3% | |||||||||||||||||||
322,977 | @ | Cameron International Corp. | 17,424,609 | 1.9 | |||||||||||||||
732,140 | @ | Denbury Resources, Inc. | 11,296,921 | 1.2 | |||||||||||||||
326,250 | @ | Oasis Petroleum, Inc. | 9,859,275 | 1.1 | |||||||||||||||
241,807 | Range Resources Corp. | 15,480,484 | 1.7 | ||||||||||||||||
99,410 | @ | Southwestern Energy Co. | 3,450,521 | 0.4 | |||||||||||||||
57,511,810 | 6.3 | ||||||||||||||||||
Financials: 8.0% | |||||||||||||||||||
82,860 | @ | Affiliated Managers Group, Inc. | 10,678,168 | 1.2 | |||||||||||||||
208,976 | Ameriprise Financial, Inc. | 12,678,574 | 1.4 | ||||||||||||||||
657,927 | Fifth Third Bancorp. | 9,632,051 | 1.0 | ||||||||||||||||
146,171 | Marsh & McLennan Cos., Inc. | 5,148,143 | 0.6 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Financials: (continued) | |||||||||||||||||||
431,880 | Nasdaq Stock Market, Inc. | 10,464,453 | 1.1 | ||||||||||||||||
137,290 | T. Rowe Price Group, Inc. | 8,878,544 | 1.0 | ||||||||||||||||
273,990 | Tanger Factory Outlet Centers, Inc. | 9,008,791 | 1.0 | ||||||||||||||||
296,815 | UDR, Inc. | 6,829,713 | 0.7 | ||||||||||||||||
73,318,437 | 8.0 | ||||||||||||||||||
Health Care: 13.0% | |||||||||||||||||||
161,414 | @ | Alexion Pharmaceuticals, Inc. | 15,498,972 | 1.7 | |||||||||||||||
154,824 | Cooper Cos., Inc. | 14,698,991 | 1.6 | ||||||||||||||||
343,540 | @ | HCA Holdings, Inc. | 10,907,395 | 1.2 | |||||||||||||||
102,287 | @ | Laboratory Corp. of America Holdings | 8,652,457 | 1.0 | |||||||||||||||
89,820 | @ | Myriad Genetics, Inc. | 2,579,630 | 0.3 | |||||||||||||||
162,471 | Perrigo Co. | 16,815,749 | 1.8 | ||||||||||||||||
36,340 | @ | Regeneron Pharmaceuticals, Inc. | 6,415,827 | 0.7 | |||||||||||||||
332,430 | Resmed, Inc. | 13,659,549 | 1.5 | ||||||||||||||||
144,100 | @ | Salix Pharmaceuticals Ltd. | 6,174,685 | 0.7 | |||||||||||||||
139,160 | @ | Vertex Pharmaceuticals, Inc. | 5,537,176 | 0.6 | |||||||||||||||
198,735 | @ | Watson Pharmaceuticals, Inc. | 17,490,667 | 1.9 | |||||||||||||||
118,431,098 | 13.0 | ||||||||||||||||||
Industrials: 16.3% | |||||||||||||||||||
200,723 | Acuity Brands, Inc. | 13,277,826 | 1.5 | ||||||||||||||||
425,737 | Ametek, Inc. | 15,892,762 | 1.7 | ||||||||||||||||
169,182 | @ | BE Aerospace, Inc. | 8,012,460 | 0.9 | |||||||||||||||
279,790 | Equifax, Inc. | 14,336,440 | 1.6 | ||||||||||||||||
89,000 | Flowserve Corp. | 12,330,950 | 1.4 | ||||||||||||||||
70,790 | @ | IHS, Inc. | 6,522,591 | 0.7 | |||||||||||||||
198,590 | Nordson Corp. | 12,151,722 | 1.3 | ||||||||||||||||
222,247 | Pall Corp. | 13,219,252 | 1.5 | ||||||||||||||||
159,966 | Regal-Beloit Corp. | 11,157,628 | 1.2 | ||||||||||||||||
165,013 | Roper Industries, Inc. | 18,403,900 | 2.0 | ||||||||||||||||
426,012 | Waste Connections, Inc. | 14,024,315 | 1.5 | ||||||||||||||||
144,716 | @ | Wesco International, Inc. | 9,355,889 | 1.0 | |||||||||||||||
148,685,735 | 16.3 | ||||||||||||||||||
Information Technology: 16.4% | |||||||||||||||||||
308,602 | Analog Devices, Inc. | 12,529,241 | 1.4 | ||||||||||||||||
504,520 | @ | Autodesk, Inc. | 16,714,748 | 1.8 | |||||||||||||||
157,550 | @ | F5 Networks, Inc. | 14,759,284 | 1.6 | |||||||||||||||
513,990 | Flir Systems, Inc. | 10,485,396 | 1.2 | ||||||||||||||||
80,500 | @ | Gartner, Inc. | 3,854,340 | 0.4 | |||||||||||||||
312,508 | Intuit, Inc. | 18,722,354 | 2.1 | ||||||||||||||||
669,670 | @ | Juniper Networks, Inc. | 12,040,667 | 1.3 | |||||||||||||||
252,568 | @ | Micros Systems, Inc. | 10,976,605 | 1.2 | |||||||||||||||
554,634 | @ | NetApp, Inc. | 17,587,444 | 1.9 | |||||||||||||||
639,114 | Nvidia Corp. | 7,656,586 | 0.9 | ||||||||||||||||
153,230 | @ | Teradata Corp. | 9,114,120 | 1.0 | |||||||||||||||
423,947 | Xilinx, Inc. | 14,689,764 | 1.6 | ||||||||||||||||
149,130,549 | 16.4 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Materials: 4.4% | |||||||||||||||||||
256,480 | Eastman Chemical Co. | 15,606,808 | 1.7 | ||||||||||||||||
429,684 | Packaging Corp. of America | 15,657,685 | 1.7 | ||||||||||||||||
669,320 | Steel Dynamics, Inc. | 8,647,614 | 1.0 | ||||||||||||||||
39,912,107 | 4.4 | ||||||||||||||||||
Telecommunication Services: 1.7% | |||||||||||||||||||
220,688 | @ | SBA Communications Corp. | 15,187,748 | 1.7 | |||||||||||||||
Total Common Stock (Cost $812,399,382) | 895,586,735 | 98.3 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.4% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.5% | |||||||||||||||||||
1,082,845 | Barclays Bank PLC, Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,082,865, collateralized by various U.S. Government Agency Obligations, 3.500%-4.000%, Market Value plus accrued interest $1,104,502, due 11/01/40-07/01/42) | 1,082,845 | 0.1 | ||||||||||||||||
227,966 | BNP Paribas Bank, Repurchase Agreement dated 11/30/12, 0.21%, due 12/03/12 (Repurchase Amount $227,970, collateralized by various U.S. Government Securities, 0.000%-0.875%, Market Value plus accrued interest $232,527, due 12/20/12-11/30/17) | 227,966 | 0.1 | ||||||||||||||||
1,082,845 | Citigroup, Inc., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,082,866, collateralized by various U.S. Government Agency Obligations, 2.233%-5.000%, Market Value plus accrued interest $1,104,502, due 03/01/21-12/01/42) | 1,082,845 | 0.1 | ||||||||||||||||
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
1,082,845 | Deutsche Bank AG, Repurchase Agreement dated 11/30/12, 0.25%, due 12/03/12 (Repurchase Amount $1,082,867, collateralized by various U.S. Government Agency Obligations, 3.000%-4.500%, Market Value plus accrued interest $1,104,502, due 08/20/41-11/15/42) | 1,082,845 | 0.1 | ||||||||||||||||
1,082,845 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 11/30/12, 0.23%, due 12/03/12 (Repurchase Amount $1,082,865, collateralized by various U.S. Government Agency Obligations, 2.459%-6.500%, Market Value plus accrued interest $1,104,502, due 11/01/22-12/01/42) | 1,082,845 | 0.1 | ||||||||||||||||
4,559,346 | 0.5 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 1.9% | ||||||||||||||||||
17,294,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $17,294,000) | 17,294,000 | 1.9 | |||||||||||||||
Total Short-Term Investments (Cost $21,853,346) | 21,853,346 | 2.4 | ||||||||||||||||
Total Investments in Securities (Cost $834,252,728) | $ | 917,440,081 | 100.7 | |||||||||||||||
Liabilities in Excess of Other Assets | (6,275,500 ) | (0.7 | ) | |||||||||||||||
Net Assets | $ | 911,164,581 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at November 30, 2012. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $835,243,067. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 96,991,193 | ||||
Gross Unrealized Depreciation | (14,794,179 | ) | ||||
Net Unrealized Appreciation | $ | 82,197,014 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 895,586,735 | $ | — | $ | — | $ | 895,586,735 | ||||||||||
Short-Term Investments | 17,294,000 | 4,559,346 | — | 21,853,346 | ||||||||||||||
Total Investments, at fair value | $ | 912,880,735 | $ | 4,559,346 | $ | — | $ | 917,440,081 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.7% | |||||||||||||||||||
Financials: 98.7% | |||||||||||||||||||
456,900 | American Campus Communities, Inc. | 20,012,220 | 1.8 | ||||||||||||||||
152,200 | American Tower Corp. | 11,404,346 | 1.0 | ||||||||||||||||
337,869 | AvalonBay Communities, Inc. | 44,527,755 | 4.0 | ||||||||||||||||
561,982 | Boston Properties, Inc. | 57,676,213 | 5.2 | ||||||||||||||||
411,500 | BRE Properties, Inc. | 20,019,475 | 1.8 | ||||||||||||||||
446,900 | CBL & Associates Properties, Inc. | 10,059,719 | 0.9 | ||||||||||||||||
594,700 | Colonial Properties Trust | 12,131,880 | 1.1 | ||||||||||||||||
484,678 | CubeSmart | 6,688,556 | 0.6 | ||||||||||||||||
1,156,000 | DDR Corp. | 17,698,360 | 1.6 | ||||||||||||||||
137,800 | Digital Realty Trust, Inc. | 8,893,612 | 0.8 | ||||||||||||||||
846,700 | Douglas Emmett, Inc. | 19,228,557 | 1.7 | ||||||||||||||||
1,239,800 | Duke Realty Corp. | 16,737,300 | 1.5 | ||||||||||||||||
879,139 | Equity Residential | 48,801,006 | 4.4 | ||||||||||||||||
94,400 | Essex Property Trust, Inc. | 13,262,256 | 1.2 | ||||||||||||||||
194,400 | Federal Realty Investment Trust | 20,225,376 | 1.8 | ||||||||||||||||
1,740,142 | General Growth Properties, Inc. | 33,706,551 | 3.0 | ||||||||||||||||
1,206,500 | HCP, Inc. | 54,352,825 | 4.9 | ||||||||||||||||
784,300 | Health Care Real Estate Investment Trust, Inc. | 46,187,427 | 4.1 | ||||||||||||||||
583,720 | Healthcare Realty Trust, Inc. | 13,921,722 | 1.2 | ||||||||||||||||
410,600 | Highwoods Properties, Inc. | 13,237,744 | 1.2 | ||||||||||||||||
3,131,955 | Host Hotels & Resorts, Inc. | 46,008,419 | 4.1 | ||||||||||||||||
481,200 | Kilroy Realty Corp. | 21,702,120 | 1.9 | ||||||||||||||||
1,817,423 | Kimco Realty Corp. | 35,003,567 | 3.1 | ||||||||||||||||
643,300 | LaSalle Hotel Properties | 15,509,963 | 1.4 | ||||||||||||||||
633,000 | Liberty Property Trust | 22,047,390 | 2.0 | ||||||||||||||||
629,725 | Macerich Co. | 35,579,462 | 3.2 | ||||||||||||||||
212,681 | Pebblebrook Hotel Trust | 4,434,399 | 0.4 | ||||||||||||||||
481,300 | Post Properties, Inc. | 23,646,269 | 2.1 | ||||||||||||||||
1,432,602 | ProLogis, Inc. | 48,622,512 | 4.4 | ||||||||||||||||
344,102 | Public Storage, Inc. | 48,394,505 | 4.3 | ||||||||||||||||
133,700 | @ | Realogy Holdings Corp. | 5,041,827 | 0.5 | |||||||||||||||
256,300 | Regency Centers Corp. | 12,007,655 | 1.1 | ||||||||||||||||
821,189 | Simon Property Group, Inc. | 124,927,483 | 11.2 | ||||||||||||||||
379,500 | SL Green Realty Corp. | 28,606,710 | 2.6 | ||||||||||||||||
517,000 | Tanger Factory Outlet Centers, Inc. | 16,998,960 | 1.5 | ||||||||||||||||
298,000 | Taubman Centers, Inc. | 23,086,060 | 2.1 | ||||||||||||||||
1,301,704 | UDR, Inc. | 29,952,209 | 2.7 | ||||||||||||||||
703,957 | Ventas, Inc. | 44,806,863 | 4.0 | ||||||||||||||||
333,264 | Vornado Realty Trust | 25,471,368 | 2.3 | ||||||||||||||||
Total Common Stock (Cost $756,653,376) | 1,100,620,641 | 98.7 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 1.3% | |||||||||||||||||||
Mutual Funds: 1.3% | |||||||||||||||||||
14,100,482 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $14,100,482) | 14,100,482 | 1.3 | ||||||||||||||||
Total Short-Term Investments (Cost $14,100,482) | 14,100,482 | 1.3 | |||||||||||||||||
Total Investments in Securities (Cost $770,753,858) | $ | 1,114,721,123 | 100.0 | ||||||||||||||||
Assets in Excess of Other Liabilities | 528,032 | — | |||||||||||||||||
Net Assets | $ | 1,115,249,155 | 100.0 |
@ | Non-income producing security |
Cost for federal income tax purposes is $879,263,193. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 237,853,346 | ||||
Gross Unrealized Depreciation | (2,395,416 | ) | ||||
Net Unrealized Appreciation | $ | 235,457,930 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 1,100,620,641 | $ | — | $ | — | $ | 1,100,620,641 | ||||||||||
Short-Term Investments | 14,100,482 | — | — | 14,100,482 | ||||||||||||||
Total Investments, at fair value | $ | 1,114,721,123 | $ | — | $ | — | $ | 1,114,721,123 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 95.2% | |||||||||||||||||||
Consumer Discretionary: 18.1% | |||||||||||||||||||
98,500 | @ | Aeropostale, Inc. | 1,360,285 | 0.7 | |||||||||||||||
41,795 | Arbitron, Inc. | 1,520,084 | 0.8 | ||||||||||||||||
39,975 | @ | Arctic Cat, Inc. | 1,504,259 | 0.8 | |||||||||||||||
31,900 | @ | Bally Technologies, Inc. | 1,439,966 | 0.7 | |||||||||||||||
29,400 | @ | Childrens Place Retail Stores, Inc. | 1,429,134 | 0.7 | |||||||||||||||
53,196 | Cinemark Holdings, Inc. | 1,446,931 | 0.7 | ||||||||||||||||
83,511 | Cooper Tire & Rubber Co. | 2,086,105 | 1.0 | ||||||||||||||||
101,900 | Dana Holding Corp. | 1,444,942 | 0.7 | ||||||||||||||||
109,100 | @ | Express, Inc. | 1,628,863 | 0.8 | |||||||||||||||
85,900 | Finish Line | 1,772,117 | 0.9 | ||||||||||||||||
29,000 | Gildan Activewear, Inc. | 1,012,100 | 0.5 | ||||||||||||||||
25,077 | @ | Hibbett Sporting Goods, Inc. | 1,347,638 | 0.7 | |||||||||||||||
70,678 | @,L | Imax Corp. | 1,530,179 | 0.8 | |||||||||||||||
59,300 | @ | Jack in the Box, Inc. | 1,633,715 | 0.8 | |||||||||||||||
52,319 | @ | Life Time Fitness, Inc. | 2,462,132 | 1.2 | |||||||||||||||
37,902 | @ | LKQ Corp. | 830,812 | 0.4 | |||||||||||||||
8,856 | @ | Lumber Liquidators | 475,390 | 0.2 | |||||||||||||||
52,950 | Monro Muffler, Inc. | 1,698,636 | 0.9 | ||||||||||||||||
50,440 | OfficeMax, Inc. | 504,400 | 0.3 | ||||||||||||||||
41,255 | Pool Corp. | 1,728,172 | 0.9 | ||||||||||||||||
64,200 | @ | Sally Beauty Holdings, Inc. | 1,627,470 | 0.8 | |||||||||||||||
107,600 | @ | Smith & Wesson Holding Corp. | 1,140,560 | 0.6 | |||||||||||||||
27,963 | @ | Steiner Leisure Ltd. | 1,286,298 | 0.6 | |||||||||||||||
27,658 | Vail Resorts, Inc. | 1,557,699 | 0.8 | ||||||||||||||||
77,531 | @ | Wet Seal, Inc. | 227,941 | 0.1 | |||||||||||||||
27,480 | Wyndham Worldwide Corp. | 1,348,993 | 0.7 | ||||||||||||||||
36,044,821 | 18.1 | ||||||||||||||||||
Consumer Staples: 2.0% | |||||||||||||||||||
32,500 | Casey’s General Stores, Inc. | 1,605,500 | 0.8 | ||||||||||||||||
26,900 | @ | Elizabeth Arden, Inc. | 1,248,429 | 0.6 | |||||||||||||||
48,950 | Flowers Foods, Inc. | 1,152,283 | 0.6 | ||||||||||||||||
4,006,212 | 2.0 | ||||||||||||||||||
Energy: 6.1% | |||||||||||||||||||
71,381 | @ | Bill Barrett Corp. | 1,240,602 | 0.6 | |||||||||||||||
60,600 | @,L | C&J Energy Services, Inc. | 1,210,182 | 0.6 | |||||||||||||||
73,900 | @ | Carrizo Oil & Gas, Inc. | 1,533,425 | 0.8 | |||||||||||||||
26,300 | @ | Dril-Quip, Inc. | 1,850,731 | 0.9 | |||||||||||||||
123,000 | @ | Key Energy Services, Inc. | 822,870 | 0.4 | |||||||||||||||
41,866 | @ | McMoRan Exploration Co. | 357,117 | 0.2 | |||||||||||||||
34,900 | @ | Rosetta Resources, Inc. | 1,568,406 | 0.8 | |||||||||||||||
72,200 | @ | Swift Energy Co. | 1,117,656 | 0.6 | |||||||||||||||
35,500 | @ | Unit Corp. | 1,594,660 | 0.8 | |||||||||||||||
19,100 | World Fuel Services Corp. | 743,945 | 0.4 | ||||||||||||||||
12,039,594 | 6.1 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Financials: 8.0% | |||||||||||||||||||
13,800 | @ | Affiliated Managers Group, Inc. | 1,778,406 | 0.9 | |||||||||||||||
50,500 | Colony Financial, Inc. | 1,011,010 | 0.5 | ||||||||||||||||
50,200 | Coresite Realty Corp. | 1,285,120 | 0.6 | ||||||||||||||||
56,580 | @ | DFC Global Corp. | 987,321 | 0.5 | |||||||||||||||
68,087 | @ | Financial Engines, Inc. | 1,785,241 | 0.9 | |||||||||||||||
177,334 | Hersha Hospitality Trust | 831,697 | 0.4 | ||||||||||||||||
28,200 | Home Properties, Inc. | 1,660,698 | 0.8 | ||||||||||||||||
24,441 | @ | Signature Bank | 1,714,781 | 0.9 | |||||||||||||||
50,634 | @ | Stifel Financial Corp. | 1,540,286 | 0.8 | |||||||||||||||
30,100 | @ | SVB Financial Group | 1,662,122 | 0.8 | |||||||||||||||
52,000 | Tanger Factory Outlet Centers, Inc. | 1,709,760 | 0.9 | ||||||||||||||||
15,966,442 | 8.0 | ||||||||||||||||||
Health Care: 17.9% | |||||||||||||||||||
29,700 | @ | Acorda Therapeutics, Inc. | 747,846 | 0.4 | |||||||||||||||
49,200 | @ | Align Technology, Inc. | 1,347,588 | 0.7 | |||||||||||||||
7,300 | @ | BioMarin Pharmaceuticals, Inc. | 354,780 | 0.2 | |||||||||||||||
11,209 | @ | Bio-Rad Laboratories, Inc. | 1,171,228 | 0.6 | |||||||||||||||
34,034 | @ | Centene Corp. | 1,494,433 | 0.7 | |||||||||||||||
27,200 | Chemed Corp. | 1,851,776 | 0.9 | ||||||||||||||||
36,800 | @ | Cubist Pharmaceuticals, Inc. | 1,494,448 | 0.7 | |||||||||||||||
21,215 | @ | Haemonetics Corp. | 1,719,051 | 0.9 | |||||||||||||||
92,144 | @ | Healthsouth Corp. | 2,026,246 | 1.0 | |||||||||||||||
50,800 | @ | Impax Laboratories, Inc. | 1,033,272 | 0.5 | |||||||||||||||
34,000 | @,L | Incyte Corp., Ltd. | 598,400 | 0.3 | |||||||||||||||
78,800 | @ | InterMune, Inc. | 721,808 | 0.4 | |||||||||||||||
26,836 | @ | IPC The Hospitalist Co., Inc. | 1,013,059 | 0.5 | |||||||||||||||
43,800 | @ | Luminex Corp. | 754,236 | 0.4 | |||||||||||||||
74,600 | @ | Masimo Corp. | 1,545,712 | 0.8 | |||||||||||||||
42,500 | @ | Medicines Co. | 912,475 | 0.5 | |||||||||||||||
19,719 | @ | Mednax, Inc. | 1,557,801 | 0.8 | |||||||||||||||
90,825 | @ | Merit Medical Systems, Inc. | 1,260,651 | 0.6 | |||||||||||||||
36,300 | @ | Momenta Pharmaceuticals, Inc. | 388,410 | 0.2 | |||||||||||||||
26,122 | @ | Nektar Therapeutics | 170,577 | 0.1 | |||||||||||||||
24,474 | @ | Neogen Corp. | 1,114,791 | 0.6 | |||||||||||||||
43,600 | @ | Omnicell, Inc. | 665,772 | 0.3 | |||||||||||||||
32,604 | @,L | OncoGenex Pharmaceutical, Inc. | 411,136 | 0.2 | |||||||||||||||
5,236 | @ | Onyx Pharmaceuticals, Inc. | 395,161 | 0.2 | |||||||||||||||
73,400 | @ | Optimer Pharmaceuticals, Inc. | 747,946 | 0.4 | |||||||||||||||
53,700 | Owens & Minor, Inc. | 1,470,306 | 0.7 | ||||||||||||||||
38,138 | @ | PSS World Medical, Inc. | 1,084,645 | 0.5 | |||||||||||||||
12,500 | @ | Salix Pharmaceuticals Ltd. | 535,625 | 0.3 | |||||||||||||||
28,500 | @,L | Seattle Genetics, Inc. | 721,335 | 0.4 | |||||||||||||||
32,846 | Steris Corp. | 1,122,348 | 0.6 | ||||||||||||||||
45,452 | @ | Theravance, Inc. | 1,021,761 | 0.5 | |||||||||||||||
23,000 | @ | Thoratec Corp. | 855,600 | 0.4 | |||||||||||||||
31,199 | Universal Health Services, Inc. | 1,406,139 | 0.7 | ||||||||||||||||
33,693 | @ | Vanda Pharmaceuticals, Inc. | 117,252 | 0.1 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Health Care: (continued) | |||||||||||||||||||
130,522 | @ | Vical, Inc. | 409,839 | 0.2 | |||||||||||||||
54,100 | @,L | Vivus, Inc. | 611,330 | 0.3 | |||||||||||||||
14,500 | @ | WellCare Health Plans, Inc. | 699,915 | 0.3 | |||||||||||||||
35,554,698 | 17.9 | ||||||||||||||||||
Industrials: 17.7% | |||||||||||||||||||
71,016 | Actuant Corp. | 2,043,130 | 1.0 | ||||||||||||||||
37,800 | Acuity Brands, Inc. | 2,500,470 | 1.2 | ||||||||||||||||
6,786 | @ | Allegiant Travel Co. | 502,300 | 0.2 | |||||||||||||||
20,360 | @ | Clean Harbors, Inc. | 1,166,221 | 0.6 | |||||||||||||||
23,300 | Corporate Executive Board Co. | 997,240 | 0.5 | ||||||||||||||||
46,500 | @ | EnPro Industries, Inc. | 1,826,520 | 0.9 | |||||||||||||||
26,700 | @ | Genesee & Wyoming, Inc. | 1,947,765 | 1.0 | |||||||||||||||
26,500 | Geo Group, Inc. | 747,300 | 0.4 | ||||||||||||||||
46,557 | Gorman-Rupp Co. | 1,295,681 | 0.6 | ||||||||||||||||
47,795 | Healthcare Services Group | 1,124,139 | 0.6 | ||||||||||||||||
55,187 | @ | HUB Group, Inc. | �� | 1,786,403 | 0.9 | ||||||||||||||
40,200 | @ | Huron Consulting Group, Inc. | 1,324,188 | 0.7 | |||||||||||||||
123,800 | Knight Transportation, Inc. | 1,860,714 | 0.9 | ||||||||||||||||
20,167 | @ | Portfolio Recovery Associates, Inc. | 1,992,903 | 1.0 | |||||||||||||||
19,739 | Regal-Beloit Corp. | 1,376,795 | 0.7 | ||||||||||||||||
51,300 | Simpson Manufacturing Co., Inc. | 1,678,023 | 0.8 | ||||||||||||||||
35,596 | @ | SYKES Enterprises, Inc. | 521,837 | 0.3 | |||||||||||||||
27,100 | @ | Teledyne Technologies, Inc. | 1,707,300 | 0.9 | |||||||||||||||
38,000 | Toro Co. | 1,704,680 | 0.9 | ||||||||||||||||
68,812 | @ | TrueBlue, Inc. | 980,571 | 0.5 | |||||||||||||||
58,066 | Waste Connections, Inc. | 1,911,533 | 1.0 | ||||||||||||||||
17,300 | Watsco, Inc. | 1,240,237 | 0.6 | ||||||||||||||||
30,500 | Watts Water Technologies, Inc. | 1,247,145 | 0.6 | ||||||||||||||||
48,700 | Woodward Governor Co. | 1,780,959 | 0.9 | ||||||||||||||||
35,264,054 | 17.7 | ||||||||||||||||||
Information Technology: 21.4% | |||||||||||||||||||
76,285 | @ | Advanced Energy Industries, Inc. | 975,685 | 0.5 | |||||||||||||||
21,503 | @ | Ansys, Inc. | 1,426,294 | 0.7 | |||||||||||||||
107,800 | @ | Aruba Networks, Inc. | 2,099,944 | 1.1 | |||||||||||||||
87,600 | @ | Aspen Technology, Inc. | 2,276,724 | 1.1 | |||||||||||||||
108,536 | @,L | Bankrate, Inc. | 1,305,688 | 0.7 | |||||||||||||||
79,726 | Blackbaud, Inc. | 1,781,079 | 0.9 | ||||||||||||||||
78,933 | @ | Cardtronics, Inc. | 1,810,723 | 0.9 | |||||||||||||||
28,926 | @ | Coherent, Inc. | 1,337,828 | 0.7 | |||||||||||||||
17,800 | @ | Commvault Systems, Inc. | 1,181,208 | 0.6 | |||||||||||||||
29,000 | @ | DealerTrack Holdings, Inc. | 779,810 | 0.4 | |||||||||||||||
53,900 | @ | Exa Corp. | 669,977 | 0.3 | |||||||||||||||
126,338 | @ | Formfactor, Inc. | 559,677 | 0.3 | |||||||||||||||
230,321 | @ | Integrated Device Technology, Inc. | 1,444,113 | 0.7 | |||||||||||||||
41,300 | j2 Global, Inc. | 1,248,912 | 0.6 | ||||||||||||||||
29,300 | @ | Kenexa Corp. | 1,345,456 | 0.7 | |||||||||||||||
37,800 | @ | Liquidity Services, Inc. | 1,552,068 | 0.8 | |||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Information Technology: (continued) | |||||||||||||||||||
56,900 | @ | LogMeIn, Inc. | 1,217,660 | 0.6 | |||||||||||||||
39,200 | @ | Micros Systems, Inc. | 1,703,632 | 0.9 | |||||||||||||||
49,600 | MKS Instruments, Inc. | 1,202,800 | 0.6 | ||||||||||||||||
58,578 | @ | Monolithic Power Systems, Inc. | 1,239,510 | 0.6 | |||||||||||||||
61,070 | National Instruments Corp. | 1,485,222 | 0.7 | ||||||||||||||||
106,000 | @ | Parametric Technology Corp. | 2,145,440 | 1.1 | |||||||||||||||
28,700 | Pegasystems, Inc. | 583,758 | 0.3 | ||||||||||||||||
49,938 | @ | Plexus Corp. | 1,156,065 | 0.6 | |||||||||||||||
177,200 | @ | PMC—Sierra, Inc. | 912,580 | 0.5 | |||||||||||||||
100,100 | @ | Polycom, Inc. | 1,047,046 | 0.5 | |||||||||||||||
65,000 | @ | QLIK Technologies, Inc. | 1,259,700 | 0.6 | |||||||||||||||
68,900 | @ | Riverbed Technolgoy, Inc. | 1,233,310 | 0.6 | |||||||||||||||
52,500 | @ | SciQuest, Inc. | 855,225 | 0.4 | |||||||||||||||
71,600 | @ | Semtech Corp. | 1,958,260 | 1.0 | |||||||||||||||
46,600 | @ | ServiceSource International, Inc. | 239,058 | 0.1 | |||||||||||||||
58,700 | @ | Synaptics, Inc. | 1,568,464 | 0.8 | |||||||||||||||
58,700 | @ | Synchronoss Technologies, Inc. | 1,071,862 | 0.5 | |||||||||||||||
42,674,778 | 21.4 | ||||||||||||||||||
Materials: 4.0% | |||||||||||||||||||
40,706 | Buckeye Technologies, Inc. | 1,128,370 | 0.6 | ||||||||||||||||
81,800 | Commercial Metals Co. | 1,108,390 | 0.6 | ||||||||||||||||
52,300 | HB Fuller Co. | 1,718,055 | 0.9 | ||||||||||||||||
152,400 | Hecla Mining Co. | 883,920 | 0.4 | ||||||||||||||||
18,887 | Minerals Technologies, Inc. | 1,397,638 | 0.7 | ||||||||||||||||
69,800 | Worthington Industries | 1,644,488 | 0.8 | ||||||||||||||||
7,880,861 | 4.0 | ||||||||||||||||||
Total Common Stock (Cost $175,864,507) | 189,431,460 | 95.2 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 1.9% | |||||||||||||||||||
41,803 | iShares Russell 2000 Growth Index Fund | 3,908,998 | 1.9 | ||||||||||||||||
Total Exchange-Traded Funds (Cost $3,717,196) | 3,908,998 | 1.9 | |||||||||||||||||
Total Long-Term Investments (Cost $179,581,703) | 193,340,458 | 97.1 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 5.5% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.9% | |||||||||||||||||||
523,802 | Cantor Fitzgerald, Repurchase Agreement dated 11/30/12, 0.26%, due 12/03/12 (Repurchase Amount $523,813, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%-8.750%, Market Value plus accrued interest $534,278, due 02/12/13-10/20/62) | 523,802 | 0.3 | ||||||||||||||||
1,339,276 | Citigroup, Inc., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,339,302, collateralized by various U.S. Government Agency Obligations, 2.233%-5.000%, Market Value plus accrued interest $1,366,062, due 03/01/21-12/01/42) | 1,339,276 | 0.7 | ||||||||||||||||
1,339,276 | Goldman Sachs & Co., Repurchase Agreement dated 11/30/12, 0.24%, due 12/03/12 (Repurchase Amount $1,339,302, collateralized by various U.S. Government Agency Obligations, 2.120%-4.500%, Market Value plus accrued interest $1,366,062, due 08/01/24-11/01/42) | 1,339,276 | 0.7 | ||||||||||||||||
1,339,276 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 11/30/12, 0.20%, due 12/03/12 (Repurchase Amount $1,339,298, collateralized by various U.S. Government Agency Obligations, 0.000%, Market Value plus accrued interest $1,366,070, due 05/31/13) | 1,339,276 | 0.7 | ||||||||||||||||
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
1,097,427 | Nomura Securities, Repurchase Agreement dated 11/30/12, 0.27%, due 12/03/12 (Repurchase Amount $1,097,451, collateralized by various U.S. Government Agency Obligations, 2.500%-10.500%, Market Value plus accrued interest $979,514, due 06/15/16-11/01/47) | 1,097,427 | 0.5 | ||||||||||||||||
5,639,057 | 2.9 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 2.6% | ||||||||||||||||||
5,212,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $5,212,000) | 5,212,000 | 2.6 | |||||||||||||||
Total Short-Term Investments (Cost $10,851,057) | 10,851,057 | 5.5 | ||||||||||||||||
Total Investments in Securities (Cost $190,432,760) | $ | 204,191,515 | 102.6 | |||||||||||||||
Liabilities in Excess of Other Assets | (5,203,141 | ) | (2.6 | ) | ||||||||||||||
Net Assets | $ | 198,988,374 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at November 30, 2012. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $192,707,195. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 23,454,332 | ||||
Gross Unrealized Depreciation | (11,970,012 | ) | ||||
Net Unrealized Appreciation | $ | 11,484,320 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at November 30, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock* | $ | 189,431,460 | $ | — | $ | — | $ | 189,431,460 | ||||||||||
Exchange-Traded Funds | 3,908,998 | — | — | 3,908,998 | ||||||||||||||
Short-Term Investments | 5,212,000 | 5,639,057 | — | 10,851,057 | ||||||||||||||
Total Investments, at fair value | $ | 198,552,458 | $ | 5,639,057 | $ | — | $ | 204,191,515 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
* | For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments. |
AS OF NOVEMBER 30, 2012 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 99.2% | |||||||||||||||||||
Consumer Discretionary: 11.1% | |||||||||||||||||||
113,700 | CBS Corp.—Class B | 4,090,926 | 1.4 | ||||||||||||||||
152,700 | Comcast Corp. — Class A | 5,677,386 | 1.9 | ||||||||||||||||
93,900 | @ | Delphi Automotive PLC | 3,191,661 | 1.1 | |||||||||||||||
87,800 | Foot Locker, Inc. | 3,146,752 | 1.1 | ||||||||||||||||
182,800 | Lowe’s Cos., Inc. | 6,597,252 | 2.3 | ||||||||||||||||
90,200 | Macy’s, Inc. | 3,490,740 | 1.2 | ||||||||||||||||
159,800 | Newell Rubbermaid, Inc. | 3,485,238 | 1.2 | ||||||||||||||||
55,900 | Wyndham Worldwide Corp. | 2,744,131 | 0.9 | ||||||||||||||||
32,424,086 | 11.1 | ||||||||||||||||||
Consumer Staples: 6.9% | |||||||||||||||||||
134,200 | Coca-Cola Enterprises, Inc. | 4,184,356 | 1.4 | ||||||||||||||||
41,600 | JM Smucker Co. | 3,679,936 | 1.3 | ||||||||||||||||
106,400 | @ | Kraft Foods Group, Inc. | 4,811,408 | 1.6 | |||||||||||||||
38,700 | Philip Morris International, Inc. | 3,478,356 | 1.2 | ||||||||||||||||
56,700 | Wal-Mart Stores, Inc. | 4,083,534 | 1.4 | ||||||||||||||||
20,237,590 | 6.9 | ||||||||||||||||||
Energy: 15.5% | |||||||||||||||||||
48,000 | @ | Ensco PLC | 2,795,040 | 1.0 | |||||||||||||||
29,500 | EOG Resources, Inc. | 3,469,790 | 1.2 | ||||||||||||||||
244,500 | ExxonMobil Corp. | 21,550,230 | 7.3 | ||||||||||||||||
176,200 | Halliburton Co. | 5,876,270 | 2.0 | ||||||||||||||||
44,900 | National Oilwell Varco, Inc. | 3,066,670 | 1.0 | ||||||||||||||||
90,300 | @ | Rowan Companies PLC | 2,865,219 | 1.0 | |||||||||||||||
43,200 | Royal Dutch Shell PLC — Class A ADR | 2,893,104 | 1.0 | ||||||||||||||||
124,600 | Statoil ASA ADR | 3,038,994 | 1.0 | ||||||||||||||||
45,555,317 | 15.5 | ||||||||||||||||||
Financials: 25.0% | |||||||||||||||||||
122,200 | AllianceBernstein Holding LP | 2,148,276 | 0.7 | ||||||||||||||||
57,900 | Ameriprise Financial, Inc. | 3,512,793 | 1.2 | ||||||||||||||||
110,700 | BB&T Corp. | 3,118,419 | 1.1 | ||||||||||||||||
119,500 | Blackstone Group LP | 1,755,455 | 0.6 | ||||||||||||||||
121,300 | Citigroup, Inc. | 4,193,341 | 1.4 | ||||||||||||||||
61,500 | EPR Properties | 2,789,025 | 1.0 | ||||||||||||||||
265,000 | Fifth Third Bancorp. | 3,879,600 | 1.3 | ||||||||||||||||
207,400 | JPMorgan Chase & Co. | 8,519,992 | 2.9 | ||||||||||||||||
340,000 | Keycorp | 2,747,200 | 0.9 | ||||||||||||||||
143,800 | Lincoln National Corp. | 3,551,860 | 1.2 | ||||||||||||||||
63,800 | PNC Financial Services Group, Inc. | 3,581,732 | 1.2 | ||||||||||||||||
61,100 | Prudential Financial, Inc. | 3,184,532 | 1.1 | ||||||||||||||||
138,700 | SunTrust Bank | 3,765,705 | 1.3 | ||||||||||||||||
59,800 | Travelers Cos., Inc. | 4,235,036 | 1.5 | ||||||||||||||||
174,000 | US Bancorp. | 5,613,240 | 1.9 | ||||||||||||||||
116,100 | Weingarten Realty Investors | 3,155,598 | 1.1 | ||||||||||||||||
296,400 | Wells Fargo & Co. | 9,784,164 | 3.3 | ||||||||||||||||
156,100 | XL Group PLC | 3,797,913 | 1.3 | ||||||||||||||||
73,333,881 | 25.0 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Health Care: 10.5% | |||||||||||||||||||
49,700 | Abbott Laboratories | 3,230,500 | 1.1 | ||||||||||||||||
61,900 | Eli Lilly & Co. | 3,035,576 | 1.0 | ||||||||||||||||
72,900 | Medtronic, Inc. | 3,069,819 | 1.0 | ||||||||||||||||
218,200 | Merck & Co., Inc. | 9,666,260 | 3.3 | ||||||||||||||||
475,800 | Pfizer, Inc. | 11,904,516 | 4.1 | ||||||||||||||||
30,906,671 | 10.5 | ||||||||||||||||||
Industrials: 9.1% | |||||||||||||||||||
85,700 | Ametek, Inc. | 3,199,181 | 1.1 | ||||||||||||||||
45,000 | Boeing Co. | 3,342,600 | 1.1 | ||||||||||||||||
67,800 | Fluor Corp. | 3,598,824 | 1.2 | ||||||||||||||||
60,100 | General Dynamics Corp. | 3,996,650 | 1.4 | ||||||||||||||||
448,100 | General Electric Co. | 9,468,353 | 3.2 | ||||||||||||||||
25,400 | Union Pacific Corp. | 3,118,612 | 1.1 | ||||||||||||||||
26,724,220 | 9.1 | ||||||||||||||||||
Information Technology: 6.3% | |||||||||||||||||||
79,400 | Automatic Data Processing, Inc. | 4,506,744 | 1.6 | ||||||||||||||||
390,900 | Cisco Systems, Inc. | 7,391,919 | 2.5 | ||||||||||||||||
118,700 | Microchip Technology, Inc. | 3,610,854 | 1.2 | ||||||||||||||||
108,700 | Microsoft Corp. | 2,893,594 | 1.0 | ||||||||||||||||
18,403,111 | 6.3 | ||||||||||||||||||
Materials: 4.9% | |||||||||||||||||||
96,600 | Freeport-McMoRan Copper & Gold, Inc. | 3,768,366 | 1.3 | ||||||||||||||||
90,100 | International Paper Co. | 3,346,314 | 1.2 | ||||||||||||||||
93,000 | Nucor Corp. | 3,829,740 | 1.3 | ||||||||||||||||
91,700 | Packaging Corp. of America | 3,341,548 | 1.1 | ||||||||||||||||
14,285,968 | 4.9 | ||||||||||||||||||
Telecommunication Services: 3.8% | |||||||||||||||||||
131,400 | CenturyTel, Inc. | 5,103,576 | 1.7 | ||||||||||||||||
138,300 | Verizon Communications, Inc. | 6,101,796 | 2.1 | ||||||||||||||||
11,205,372 | 3.8 | ||||||||||||||||||
Utilities: 6.1% | |||||||||||||||||||
201,300 | CenterPoint Energy, Inc. | 3,971,649 | 1.4 | ||||||||||||||||
69,900 | DTE Energy Co. | 4,234,542 | 1.4 | ||||||||||||||||
50,900 | Entergy Corp. | 3,234,186 | 1.1 | ||||||||||||||||
177,700 | Great Plains Energy, Inc. | 3,598,425 | 1.2 | ||||||||||||||||
162,000 | @,L,X | Mirant Corp. | — | — | |||||||||||||||
162,500 | NV Energy, Inc. | 2,978,625 | 1.0 | ||||||||||||||||
18,017,427 | 6.1 | ||||||||||||||||||
Total Common Stock (Cost $279,785,515) | 291,093,643 | 99.2 | |||||||||||||||||
Assets in Excess of Other Liabilities | 2,227,169 | 0.8 | |||||||||||||||||
Net Assets | $ | 293,320,812 | 100.0 |
AS OF NOVEMBER 30, 2012 (UNAUDITED) (CONTINUED)
@ | Non-income producing security |
ADR | American Depositary Receipt |
L | Loaned security, a portion or all of the security is on loan at November 30, 2012. |
X | Fair value determined by ING Funds Valuation Committee appointed by the Funds’ Board of Directors/Trustees. |
Cost for federal income tax purposes is $279,895,899. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 11,688,478 | ||||
Gross Unrealized Depreciation | (490,734 | ) | ||||
Net Unrealized Appreciation | $ | 11,197,744 |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-end Management Investment Companies.
Not required for Semi-annual filing.
Item 8. Purchases of Equity Securities by Closed-end Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 9. Submission of Matters to a Vote of Security Holders.
The Board has a Nominating Committee (“Committee”) for the purpose of considering and presenting to the Board candidates it proposes for nomination to fill Trustee vacancies on the Board. The Committee currently consists of four Trustees of the Board, none of whom are considered “interested persons” of the Trust within the meaning of Section 2(a)(19) of the Investment Company Act of 1940. The Committee has adopted a written charter that sets forth the policies and procedures of the Committee. The Committee will accept referrals for potential candidates from Board members, Fund shareholders, legal counsel to the disinterested Trustees or such other sources as the Committee deems appropriate. Shareholders can submit recommendations in writing to the attention of the Chairperson of the Committee at an address to be maintained by Fund management for this purpose. In order for the Committee to consider a potential candidate, the Committee initially must receive at least the following information regarding such person: (1) name; (2) date of birth; (3) education; (4) business, professional or other relevant experience and areas of expertise; (5) current business, professional or other relevant experience and areas of expertise; (6) current business and home addresses and contact information; (7) other board positions or prior experience; and (8) any knowledge and experience relating to investment companies and investment company governance.
Item 10. Controls and Procedures.
(a) | Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-CSR are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-CSR and the officer certifications of such Form N-CSR. | |||
(b) | There were no significant changes in the registrant’s internal controls that occurred during the second fiscal quarter of 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 11. Exhibits.
(a)(1) | The Code of Ethics is not required for the semi-annual filing. | |||
(a)(2) | A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT. | |||
(a)(3) | Not required for semi-annual filing. | |||
(b) | The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT. |
(Registrant): ING Equity Trust | ||||
By | /s/ Shaun P. Mathews | |||
Shaun P. Mathews | ||||
President and Chief Executive Officer |
By | /s/ Shaun P. Mathews | |||
Shaun P. Mathews | ||||
President and Chief Executive Officer |
By | /s/ Todd Modic | |||
Todd Modic | ||||
Senior Vice President and Chief Financial Officer |