30 Hudson Street, Jersey City, New Jersey 07302-4804
(Address of principal executive offices) (Zip code)

Randolph A. Stuzin, Esq.
Vice President and Assistant Secretary
30 Hudson Street, Jersey City, New Jersey 07302-4804
(Name and address of agent for service)

Class A

LCRAX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Core Fixed Income Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$27	0.54%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

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

TSR-SA-273-A

07/26

Class C

LCRCX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$59	1.19%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-684-C

07/26

Class F

LCRFX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$22	0.44%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1009-F

07/26

Class F3

LCROX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$13	0.27%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8965-F3

07/26

Class I

LCRYX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$15	0.30%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-689-I

07/26

Class R2

LCRQX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$47	0.94%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1079-R2

07/26

Class R3

LCRRX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$42	0.84%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2053-R3

07/26

Class R4

LCRSX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$29	0.59%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8705-R4

07/26

Class R5

LCRTX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$17	0.34%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8737-R5

07/26

Class R6

LCRVX

Lord Abbett Core Fixed Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$13	0.27%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,722,806,975
# of Portfolio Holdings	519
Portfolio Turnover Rate	191%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	13.39%
Corporate Bonds	29.89%
Floating Rate Loans	1.09%
Foreign Government Obligations	1.53%
Government Sponsored Enterprises Collateralized Mortgage Obligations	2.21%
Government Sponsored Enterprises Pass-Throughs	22.01%
Non-Agency Commercial Mortgage-Backed Securities	10.21%
U.S. Treasury Obligations	18.04%
Repurchase Agreements	1.56%
Money Market Funds^{Footnote Reference**}	0.06%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8769-R6

07/26

Class A

LACFX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Convertible Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$60	1.09%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1404-A

07/26

Class C

LACCX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$93	1.70%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1406-C

07/26

Class F

LBFFX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$54	0.99%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1008-F

07/26

Class F3

LOCFX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$45	0.81%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8964-F3

07/26

Class I

LCFYX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$49	0.89%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1408-I

07/26

Class P

LCFPX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class P	$74	1.34%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1407-P

07/26

Class R2

LBCQX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$82	1.49%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1046-R2

07/26

Class R3

LCFRX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$76	1.39%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2052-R3

07/26

Class R4

LCFSX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$63	1.14%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8704-R4

07/26

Class R5

LCFTX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$49	0.89%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8736-R5

07/26

Class R6

LCFVX

Lord Abbett Convertible Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$45	0.81%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$719,094,508
# of Portfolio Holdings	86
Portfolio Turnover Rate	77%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	1.24%
Convertible Bonds	84.43%
Convertible Preferred Stocks	13.30%
Repurchase Agreements	0.72%
Money Market Funds^{Footnote Reference**}	0.28%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8768-R6

07/26

Class A

LAPLX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Core Plus Bond Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$31	0.62%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8796-A

07/26

Class C

LAPCX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$65	1.30%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8797-C

07/26

Class F

LPLFX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$26	0.52%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8798-F

07/26

Class F3

LOPLX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$17	0.34%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8966-F3

07/26

Class I

LAPIX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$21	0.42%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8799-I

07/26

Class R3

LAPQX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$46	0.92%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8801-R3

07/26

Class R4

LAPUX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$33	0.67%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8802-R4

07/26

Class R5

LAPVX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$20	0.41%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8803-R5

07/26

Class R6

LAPWX

Lord Abbett Core Plus Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$17	0.34%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$5,130,978,569
# of Portfolio Holdings	671
Portfolio Turnover Rate	199%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	9.99%
Common Stocks	0.01%
Corporate Bonds	35.96%
Floating Rate Loans	1.45%
Foreign Government Obligations	0.97%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.18%
Government Sponsored Enterprises Pass-Throughs	19.53%
Non-Agency Commercial Mortgage-Backed Securities	7.85%
U.S. Treasury Obligations	20.27%
Repurchase Agreements	2.31%
Money Market Funds^{Footnote Reference**}	0.43%
Time Deposits^{Footnote Reference**}	0.05%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8804-R6

07/26

Class A

LFRAX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Floating Rate Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$41	0.81%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2081-A

07/26

Class C

LARCX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$73	1.44%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2083-C

07/26

Class F

LFRFX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$36	0.71%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2085-F

07/26

Class F3

LFROX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$27	0.53%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8969-F3

07/26

Class I

LFRIX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$31	0.61%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2084-I

07/26

Class R2

LFRRX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$61	1.21%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2086-R2

07/26

Class R3

LRRRX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$56	1.11%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2087-R3

07/26

Class R4

LRRKX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$43	0.86%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8724-R4

07/26

Class R5

LRRTX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$31	0.61%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8756-R5

07/26

Class R6

LRRVX

Lord Abbett Floating Rate Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$27	0.53%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$4,347,032,460
# of Portfolio Holdings	429
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	0.59%
Common Stocks	0.47%
Corporate Bonds	9.49%
Exchange-Traded Funds	1.76%
Floating Rate Loans	81.70%
Preferred Stocks	0.40%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	4.31%
Money Market Funds^{Footnote Reference†}	1.15%
Time Deposits^{Footnote Reference†}	0.13%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8788-R6

07/26

Class A

LHYAX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett High Yield Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$45	0.90%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-266-A

07/26

Class C

LHYCX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$78	1.54%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-681-C

07/26

Class F

LHYFX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$40	0.80%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1010-F

07/26

Class F3

LHYOX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$31	0.61%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8972-F3

07/26

Class I

LAHYX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$35	0.70%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-694-I

07/26

Class R2

LHYQX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$66	1.31%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1080-R2

07/26

Class R3

LHYRX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$61	1.20%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2054-R3

07/26

Class R4

LHYSX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$48	0.96%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8706-R4

07/26

Class R5

LHYTX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$35	0.70%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8738-R5

07/26

Class R6

LHYVX

Lord Abbett High Yield Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$31	0.61%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,269,060,300
# of Portfolio Holdings	691
Portfolio Turnover Rate	41%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Common Stocks	0.66%
Convertible Bonds	2.01%
Corporate Bonds	87.60%
Floating Rate Loans	4.65%
Non-Agency Commercial Mortgage-Backed Securities	0.29%
Preferred Stocks	0.16%
Warrants	0.00%^{Footnote Reference**}
Repurchase Agreements	1.00%
Money Market Funds^{Footnote Reference†}	3.27%
Time Deposits^{Footnote Reference†}	0.36%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8770-R6

07/26

Class A

LAGVX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Income Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$35	0.70%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-12-A

07/26

Class C

LAUSX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$67	1.35%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-665-C

07/26

Class F

LAUFX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$30	0.60%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1013-F

07/26

Class F3

LOGVX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$22	0.43%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8973-F3

07/26

Class I

LAUYX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$25	0.50%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1427-I

07/26

Class R2

LAUQX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$55	1.10%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1083-R2

07/26

Class R3

LAURX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$50	1.00%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2057-R3

07/26

Class R4

LAUKX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$37	0.75%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8709-R4

07/26

Class R5

LAUTX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$25	0.50%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8741-R5

07/26

Class R6

LAUVX

Lord Abbett Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$22	0.43%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$6,453,462,836
# of Portfolio Holdings	498
Portfolio Turnover Rate	74%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	8.17%
Convertible Bonds	0.17%
Corporate Bonds	65.59%
Floating Rate Loans	14.06%
Foreign Government Obligations	1.35%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	3.69%
Non-Agency Commercial Mortgage-Backed Securities	1.45%
U.S. Treasury Obligations	4.18%
Repurchase Agreements	0.96%
Money Market Funds^{Footnote Reference†}	0.34%
Time Deposits^{Footnote Reference†}	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8773-R6

07/26

Class A

LIFAX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Inflation Focused Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$36	0.72%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-3329-A

07/26

Class C

LIFCX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$67	1.33%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-3330-C

07/26

Class F

LIFFX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$31	0.62%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-3331-F

07/26

Class F3

LIFOX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$21	0.42%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-8974-F3

07/26

Class I

LIFIX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$26	0.52%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-3332-I

07/26

Class R2

LIFQX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$56	1.12%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-3333-R2

07/26

Class R3

LIFRX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$52	1.03%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-3334-R3

07/26

Class R4

LIFKX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$39	0.78%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-8726-R4

07/26

Class R5

LIFTX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$26	0.52%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-8758-R5

07/26

Class R6

LIFVX

Lord Abbett Inflation Focused Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$21	0.42%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$873,154,273
# of Portfolio Holdings	751
Portfolio Turnover Rate	87%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	17.83%
Commercial Paper	1.46%
Convertible Bonds	0.04%
Corporate Bonds	46.48%
Floating Rate Loans	2.75%
Foreign Government Obligations	1.59%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.15%
Non-Agency Commercial Mortgage-Backed Securities	6.37%
U.S. Treasury Obligations	17.73%
Repurchase Agreements	0.60%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%

Where can I find additional information about the Fund?

TSR-SA-8790-R6

07/26

Class A

LABFX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Multi-Asset Balanced Opportunity Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$24	0.47%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-259-A

07/26

Class C

BFLAX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$62	1.22%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-667-C

07/26

Class F

BLAFX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$16	0.32%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1014-F

07/26

Class F3

LOBFX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$8	0.15%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8978-F3

07/26

Class I

LABYX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$11	0.22%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1428-I

07/26

Class P

LABPX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class P	$34	0.67%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-582-P

07/26

Class R2

BLAQX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$42	0.82%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1084-R2

07/26

Class R3

BLARX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$37	0.72%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-2058-R3

07/26

Class R4

BLASX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$24	0.47%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8710-R4

07/26

Class R5

BLATX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$11	0.21%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8742-R5

07/26

Class R6

BLAVX

Lord Abbett Multi-Asset Balanced Opportunity Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$8	0.16%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$2,059,207,104
# of Portfolio Holdings	14
Portfolio Turnover Rate	21%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	8.54%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	14.94%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	10.96%
Lord Abbett Investment Trust-High Yield Fund - Class I	5.79%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.92%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.77%
Lord Abbett Private Credit Fund	2.20%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	13.60%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	12.62%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	13.54%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.13%
Lord Abbett Securities Trust-International Value Fund - Class I	4.38%
Lord Abbett Securities Trust-Value Opportunities Fund - Class I	2.52%
Repurchase Agreements	0.09%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8774-R6

07/26

Class A

ISFAX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Multi-Asset Income Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$24	0.47%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1440-A

07/26

Class C

ISFCX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$62	1.23%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1442-C

07/26

Class F

LIGFX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$16	0.32%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1015-F

07/26

Class F3

ISFOX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$8	0.16%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8980-F3

07/26

Class I

ISFYX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$11	0.22%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1444-I

07/26

Class R2

LIGQX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$42	0.83%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-1085-R2

07/26

Class R3

LIXRX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$37	0.72%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-2059-R3

07/26

Class R4

LIXSX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$24	0.47%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8711-R4

07/26

Class R5

LIXTX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$10	0.20%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8743-R5

07/26

Class R6

LIXVX

Lord Abbett Multi-Asset Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$9	0.17%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$789,726,807
# of Portfolio Holdings	13
Portfolio Turnover Rate	27%

What did the Fund invest in?

(as of May 31, 2026)

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Lord Abbett Affiliated Fund, Inc. - Class I	4.55%
Lord Abbett Investment Trust-Core Fixed Income Fund - Class I	29.49%
Lord Abbett Investment Trust-Core Plus Bond Fund - Class I	15.04%
Lord Abbett Investment Trust-High Yield Fund - Class I	8.65%
Lord Abbett Investment Trust-Short Duration Income Fund - Class I	3.98%
Lord Abbett Investment Trust-Ultra Short Bond Fund - Class I	1.63%
Lord Abbett Private Credit Fund	2.51%
Lord Abbett Research Fund, Inc.-Dividend Growth Fund - Class I	8.39%
Lord Abbett Securities Trust-Fundamental Equity Fund - Class I	8.60%
Lord Abbett Securities Trust-Growth Leaders Fund - Class I	7.81%
Lord Abbett Securities Trust-International Equity Fund - Class I	5.33%
Lord Abbett Securities Trust-International Value Fund - Class I	3.98%
Repurchase Agreements	0.04%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.

Where can I find additional information about the Fund?

TSR-SA-8775-R6

07/26

Class A

LDCAX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Short Duration Core Bond Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$30	0.60%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8874-A

07/26

Class C

LDCCX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$63	1.26%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8875-C

07/26

Class F

LDCFX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$25	0.50%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8876-F

07/26

Class F3

LSCOX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$16	0.31%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8879-F3

07/26

Class I

LSCIX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$20	0.40%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8877-I

07/26

Class R3

LDCRX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$45	0.90%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8881-R3

07/26

Class R4

LSCSX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$33	0.65%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8882-R4

07/26

Class R5

LSCUX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$20	0.40%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8883-R5

07/26

Class R6

LDCVX

Lord Abbett Short Duration Core Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$16	0.31%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$653,589,318
# of Portfolio Holdings	469
Portfolio Turnover Rate	72%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	22.85%
Commercial Paper	0.43%
Corporate Bonds	43.38%
Floating Rate Loans	1.88%
Foreign Government Obligations	1.95%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.88%
Government Sponsored Enterprises Pass-Throughs	4.06%
Non-Agency Commercial Mortgage-Backed Securities	4.19%
U.S. Treasury Obligations	19.58%
Repurchase Agreements	0.69%
Money Market Funds^{Footnote Reference**}	0.10%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8884-R6

07/26

Class A

LALDX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Short Duration Income Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$30	0.59%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-249-A

07/26

Class C

LDLAX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$62	1.23%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-668-C

07/26

Class F

LDLFX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$25	0.49%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1011-F

07/26

Class F3

LOLDX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$15	0.30%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8981-F3

07/26

Class I

LLDYX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$20	0.39%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1425-I

07/26

Class R2

LDLQX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$50	0.99%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1081-R2

07/26

Class R3

LDLRX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$45	0.89%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2055-R3

07/26

Class R4

LDLKX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$32	0.64%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8707-R4

07/26

Class R5

LDLTX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$20	0.39%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8739-R5

07/26

Class R6

LDLVX

Lord Abbett Short Duration Income Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$15	0.30%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$43,777,243,308
# of Portfolio Holdings	1,121
Portfolio Turnover Rate	76%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	20.54%
Commercial Paper	0.48%
Convertible Bonds	0.05%
Corporate Bonds	51.57%
Floating Rate Loans	5.38%
Foreign Government Obligations	2.21%
Government Sponsored Enterprises Collateralized Mortgage Obligations	0.00%^{Footnote Reference**}
Government Sponsored Enterprises Pass-Throughs	5.09%
Non-Agency Commercial Mortgage-Backed Securities	8.68%
U.S. Treasury Obligations	4.86%
Repurchase Agreements	1.04%
Money Market Funds^{Footnote Reference†}	0.09%
Time Deposits^{Footnote Reference†}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Amount is less than 0.01%
Footnote†	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8771-R6

07/26

Class A

LUBAX

Lord Abbett Ultra Short Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Ultra Short Bond Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$22	0.43%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$16,580,217,068
# of Portfolio Holdings	652
Portfolio Turnover Rate	37%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	23.91%
Commercial Paper	11.63%
Corporate Bonds	51.81%
Floating Rate Loans	4.02%
Foreign Government Obligations	0.38%
Non-Agency Commercial Mortgage-Backed Securities	5.41%
U.S. Treasury Obligations	2.46%
Repurchase Agreements	0.29%
Money Market Funds^{Footnote Reference**}	0.08%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8805-A

07/26

Class A1

LUSNX

Lord Abbett Ultra Short Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A1	$27	0.53%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$16,580,217,068
# of Portfolio Holdings	652
Portfolio Turnover Rate	37%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	23.91%
Commercial Paper	11.63%
Corporate Bonds	51.81%
Floating Rate Loans	4.02%
Foreign Government Obligations	0.38%
Non-Agency Commercial Mortgage-Backed Securities	5.41%
U.S. Treasury Obligations	2.46%
Repurchase Agreements	0.29%
Money Market Funds^{Footnote Reference**}	0.08%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-9120-A1

07/26

Class F

LUBFX

Lord Abbett Ultra Short Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$19	0.38%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$16,580,217,068
# of Portfolio Holdings	652
Portfolio Turnover Rate	37%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	23.91%
Commercial Paper	11.63%
Corporate Bonds	51.81%
Floating Rate Loans	4.02%
Foreign Government Obligations	0.38%
Non-Agency Commercial Mortgage-Backed Securities	5.41%
U.S. Treasury Obligations	2.46%
Repurchase Agreements	0.29%
Money Market Funds^{Footnote Reference**}	0.08%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8806-F

07/26

Class F3

LUBOX

Lord Abbett Ultra Short Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$12	0.23%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$16,580,217,068
# of Portfolio Holdings	652
Portfolio Turnover Rate	37%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	23.91%
Commercial Paper	11.63%
Corporate Bonds	51.81%
Floating Rate Loans	4.02%
Foreign Government Obligations	0.38%
Non-Agency Commercial Mortgage-Backed Securities	5.41%
U.S. Treasury Obligations	2.46%
Repurchase Agreements	0.29%
Money Market Funds^{Footnote Reference**}	0.08%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8993-F3

07/26

Class I

LUBYX

Lord Abbett Ultra Short Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$14	0.28%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$16,580,217,068
# of Portfolio Holdings	652
Portfolio Turnover Rate	37%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	23.91%
Commercial Paper	11.63%
Corporate Bonds	51.81%
Floating Rate Loans	4.02%
Foreign Government Obligations	0.38%
Non-Agency Commercial Mortgage-Backed Securities	5.41%
U.S. Treasury Obligations	2.46%
Repurchase Agreements	0.29%
Money Market Funds^{Footnote Reference**}	0.08%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8807-I

07/26

Class R5

LUBVX

Lord Abbett Ultra Short Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$14	0.28%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$16,580,217,068
# of Portfolio Holdings	652
Portfolio Turnover Rate	37%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	23.91%
Commercial Paper	11.63%
Corporate Bonds	51.81%
Floating Rate Loans	4.02%
Foreign Government Obligations	0.38%
Non-Agency Commercial Mortgage-Backed Securities	5.41%
U.S. Treasury Obligations	2.46%
Repurchase Agreements	0.29%
Money Market Funds^{Footnote Reference**}	0.08%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8808-R5

07/26

Class R6

LUBWX

Lord Abbett Ultra Short Bond Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$12	0.23%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$16,580,217,068
# of Portfolio Holdings	652
Portfolio Turnover Rate	37%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	23.91%
Commercial Paper	11.63%
Corporate Bonds	51.81%
Floating Rate Loans	4.02%
Foreign Government Obligations	0.38%
Non-Agency Commercial Mortgage-Backed Securities	5.41%
U.S. Treasury Obligations	2.46%
Repurchase Agreements	0.29%
Money Market Funds^{Footnote Reference**}	0.08%
Time Deposits^{Footnote Reference**}	0.01%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8809-R6

07/26

Class A

LTRAX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

This semi-annual shareholder report contains important information about the Lord Abbett Total Return Fund for the period of December 1, 2025 to May 31, 2026 (the "reporting period"). You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$32	0.64%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-275-A

07/26

Class C

LTRCX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$64	1.28%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-585-C

07/26

Class F

LTRFX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F	$27	0.54%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1012-F

07/26

Class F3

LTROX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class F3	$17	0.35%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8982-F3

07/26

Class I

LTRYX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$20	0.40%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-691-I

07/26

Class P

LTRPX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class P	$43	0.87%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-597-P

07/26

Class R2

LTRQX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R2	$52	1.04%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-1082-R2

07/26

Class R3

LTRRX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R3	$47	0.94%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-2056-R3

07/26

Class R4

LTRKX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R4	$34	0.69%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8708-R4

07/26

Class R5

LTRTX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R5	$22	0.44%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8740-R5

07/26

Class R6

LTRHX

Lord Abbett Total Return Fund

Semi-Annual Shareholder Report

May 31, 2026

lordabbett.com/FundDocuments

What were the Fund costs for the reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class R6	$17	0.35%^{Footnote Reference(a)}

Footnote	Description
Footnote^(a)	Annualized.

What did the Fund invest in?

(as of May 31, 2026)

Key Fund Statistics

(as of May 31, 2026)

Table Summary
Total Net Assets	$3,621,196,187
# of Portfolio Holdings	560
Portfolio Turnover Rate	194%

Table Summary
Portfolio Holdings Presented by Portfolio Allocation	%^{Footnote Reference*}
Asset-Backed Securities	10.30%
Common Stocks	0.01%
Corporate Bonds	33.89%
Floating Rate Loans	1.36%
Foreign Government Obligations	1.39%
Government Sponsored Enterprises Collateralized Mortgage Obligations	1.70%
Government Sponsored Enterprises Pass-Throughs	21.54%
Non-Agency Commercial Mortgage-Backed Securities	9.03%
U.S. Treasury Obligations	18.69%
Repurchase Agreements	1.83%
Money Market Funds^{Footnote Reference**}	0.23%
Time Deposits^{Footnote Reference**}	0.03%
Total	100.00%

Footnote	Description
Footnote*	Represents percent of total investments, which excludes derivatives.
Footnote**	Securities were purchased with the cash collateral from loaned securities.

Where can I find additional information about the Fund?

TSR-SA-8772-R6

07/26

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

The basis for the approval of the investment adviser contract is included as part of the report to shareholders filed under Item 1 (a) of this form N-CSR.

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

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

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

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

Lord Abbett Investment Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, open-end management investment company and was organized as a Delaware statutory trust on August 16, 1993. The Trust consists of thirteen funds. This report covers the following two funds (separately, a “Fund” and collectively, the “Funds”) and their respective active share classes:

Multi-Asset Balanced Opportunity Fund’s Class P shares are closed to substantially all new investors, with certain exceptions as set forth in the Fund’s prospectus.

Multi-Asset Balanced Opportunity Fund’s investment objective is to seek current income and capital growth. Multi-Asset Income Fund’s investment objective is to seek a high level of current income. The Funds invest principally in “Affiliated Funds”, which consist of other registered mutual funds managed by Lord, Abbett & Co. LLC (“Lord Abbett”) and the Lord Abbett Private Credit Fund (“PCF”), which is a non-diversified, closed-end management investment company which elected to be regulated as a business development company under the 1940 Act.

Each class of shares has different expenses and dividends. A front-end sales charge is normally added to the net asset value (“NAV”) for Class A shares. There is no front-end sales charge in the case of Class C, F, F3, I, P, R2, R3, R4, R5 and R6 shares, although there may be a contingent deferred sales charge (“CDSC”) in certain cases as follows: Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); Class C shares redeemed before the first anniversary of purchase. Class C shares automatically convert to Class A shares on the 25th day of the month (or, if the 25th day is not a business day, the next business day thereafter) following the eighth anniversary of the month on which the purchase order was accepted, provided that the Fund or financial intermediary through which a shareholder purchased Class C shares has records verifying that the class C shares have been held at least eight years.

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

An operating segment is defined in FASB Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures (“ASU 2023-07”) as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available.

The CODM for the Funds is the Investment Committee of Lord Abbett, which represents the highest-level body responsible for evaluating each Fund’s operating performance and making decisions regarding resource allocation. The Investment Committee regularly reviews each Fund’s operating results, including investment performance and financial information, in making strategic and operational decisions.

The CODM has determined that each Fund has a single operating segment based on the fact that the CODM monitors the operating results of each Fund as a whole and that the Funds’ long-term strategic asset allocation is pre-determined in accordance with the terms of their prospectus, based on a defined investment strategy which is executed by the Funds’ portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Funds’ Schedules of Investments, Statements of Assets and Liabilities, Statements of Operations, Statements of Changes in Net Assets and Financial Highlights.

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

The management fee is based on each Fund’s average daily net assets at an annual rate of .10%.

For the six months ended May 31, 2026, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund’s average daily net assets:

For the Funds’ investment in the PCF, Lord Abbett has voluntarily agreed to waive management fees in an amount sufficient to offset the respective management fee that Lord Abbett collects from the PCF. Lord Abbett voluntarily waived the following management fees for the six months ended May 31, 2026:

In addition, Lord Abbett provides certain administrative services to each Fund pursuant to an Administrative Services Agreement in return for a fee at an annual rate of .04% of each Fund’s average daily net assets. The fund administration fee is accrued daily and payable monthly.

Lord Abbett voluntarily waived certain fees and expenses during the six months ended May 31, 2026:

Each Fund has adopted a distribution plan with respect to Class A, C, F, P, R2, R3 and R4 shares pursuant to Rule 12b-1 under the 1940 Act, which provides for the payment of ongoing distribution and service fees to Lord Abbett Distributor LLC (the “Distributor”), an affiliate of Lord Abbett. The distribution and service fees are accrued daily and payable monthly. The following annual rates have been authorized by the Board pursuant to the plan:

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

The Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, during the six months ended May 31, 2026:

The Distributor received the following amounts of CDSCs for the six months ended May 31, 2026:

One Trustee and certain of the Trust’s officers have an interest in Lord Abbett.

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

The tax character of distributions paid during the six months ended May 31, 2026 was as follows:

The tax character of distributions paid during the fiscal year ended November 30, 2025 was as follows:

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

As of May 31 2026, the tax cost of investments and the breakdown of unrealized appreciation/(depreciation) for each Fund are shown below. The difference between book-basis and tax-basis unrealized appreciation/(depreciation) is attributable to the tax treatment of certain securities, certain distributions, other financial instruments and wash sales.

Purchases and sales of investment securities (excluding short-term investments) for the six months ended May 31, 2026 were as follows:

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

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

During the six months ended May 31, 2026, the Funds did not participate as a borrower or lender in the Interfund Lending Program.

State Street Bank and Trust Company (“SSB”) is the Trust’s custodian and accounting agent. SSB performs custodial, accounting and recordkeeping functions relating to portfolio transactions and calculating each Fund’s NAV.

An affiliated fund is one in which a Fund has ownership of at least 5% of the outstanding voting securities of the underlying fund at any point during the fiscal year or any company which is under common ownership or control. Multi-Asset Balanced Opportunity Fund and Multi-Asset Income Fund had the following transactions with affiliated funds during the six months ended May 31, 2026:

The Funds intend to obtain exposure to less liquid or illiquid private credit investments, generally involving corporate borrowers, through their investments in pooled investment vehicles, including those managed by Lord Abbett. Typically, private credit investments are not traded in public markets and are illiquid, such that a pooled investment vehicle may not be able to dispose of its holdings for extended periods, which may be several years, or at the price at which such pooled investment vehicles are valuing investments. Such pooled investment vehicles will also be illiquid, and the Funds incur two layers of fees, with Lord Abbett potentially receiving a management fee at both levels. Such pooled investment vehicles may, from time to time or over time, focus its private credit investments in a particular industry or sector or select industries or sectors. Investment performance of such industries or sectors may thus at times have an out-sized impact on the performance of such pooled investment vehicles or a Fund indirectly. Additionally, private credit investments can range in credit quality depending on security-specific factors, including total leverage, amount of leverage senior to the security in question, variability in the issuer’s cash flows, the size of the issuer, the quality of assets securing debt and the degree to which such assets cover the subject company’s debt obligations. The issuers of such pooled investment vehicles’ private credit investments will often be leveraged, often as a result of leveraged buyouts or other recapitalization transactions, and often will not be rated by national credit rating agencies.

The Funds’ investment in the PCF are subject to restrictions on transfer. The PCF expects to repurchase shares pursuant to tender offers each quarter, up to 5% of the PCF’s common shares outstanding, using a purchase price equal to the NAV per share as of the last calendar day of the applicable quarter.

There will be no trading market for the Funds’ investment in the PCF. The Schedules of Investments list the PCF as an investment as of period end, but do not include the underlying holdings of the PCF. The Funds indirectly bear the proportionate share of the expenses of the PCF.

The Funds invest principally in the Affiliated Funds and, as a result, a Fund’s performance is directly related to the Affiliated Fund’s performance. Each Fund’s ability to meet its investment objective depends on the ability of the Affiliated Funds to achieve their investment objectives and on the Fund’s particular allocation of assets among the Affiliated Funds and the asset classes they represent. Consequently, a Fund is subject to the particular risks of the Affiliated Funds in the proportion in which the Fund invests in them. The value of the Affiliated Funds’ investments and the NAVs of the shares of both the Funds and their Affiliated Funds will fluctuate in response to various market and economic factors related to the domestic and foreign equity and fixed income markets, as well as the financial condition and prospects of issuers in which the Affiliated Funds invest.

Multi-Asset Balanced Opportunity Fund and Multi-Asset Income Fund are subject to the general risks and considerations associated with investing in fixed income securities. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates rise, the prices of fixed income securities are likely to decline; when rates fall, such prices tend to rise. Longer-term securities are usually more sensitive to interest rate changes. There is also the risk that an issuer of a fixed income security will fail to make timely payments of principal and/or interest to an Affiliated Fund, a risk that is greater with high-yield bonds (sometimes called “junk bonds”) in which one or more of the Affiliated Funds may invest. Some issuers, particularly of high-yield bonds, may default as to principal and/or interest payments after an Affiliated Fund purchases their securities. A default, or concerns in the market about an increase in risk of default, may result in losses to the Affiliated Fund. High-yield bonds are subject to greater price fluctuations, as well as additional risks. The market for below investment grade securities may be less liquid due to such factors as interest rate sensitivity, negative perceptions of the junk bond markets generally, and less secondary market liquidity. This may make such securities more difficult to sell at an acceptable price, especially during periods of financial distress, increased market volatility, or significant market decline.

Each Fund is subject to the general risks and considerations associated with equity investing. The value of an investment will fluctuate in response to movements in the equity securities market in general, a particular industry or sector, or to the changing prospects of individual companies in which the Affiliated Funds invest. If an Affiliated Fund’s assessment of market conditions or companies held in the Affiliated Fund fails to produce the intended result, a Fund could suffer losses or produce poor performance relative to other funds, even in a rising market. Each Fund’s investment exposure to foreign (which may include emerging market) companies generally is subject to the risk that the value of securities issued by foreign companies may be adversely affected by political, economic and social volatility and subject to less government supervision, lack of transparency, or inadequate regulatory and accounting standards, inadequate exchange control regulations, foreign taxes, higher transaction and other costs, and delays in settlement. The cost of a Fund’s potential use of forward currency exchange contracts varies with factors such as the currencies involved, the length of the contract period and the market conditions prevailing. The Affiliated Fund’s investments in emerging market companies generally are subject to more risks than investments in developed market companies.

Because Multi-Asset Income Fund will be more heavily invested in fixed income funds than equity funds, it will be more affected by the risks associated with fixed income securities. Given Multi-Asset Balanced Opportunity Fund’s more balanced allocation among fixed income funds and equity funds, each will be affected by risks associated with both equity and fixed income investments.

Each Fund may invest in derivatives, either directly or through its Affiliated Funds. Each Fund is subject to the risks associated with derivatives, which may be different from and greater than the risks associated with directly investing in securities and other investments. Derivatives may be subject to risks such as liquidity risk, leveraging risk, interest rate risk, market risk, heightened counterparty risk, credit risk, and volatility. Illiquid securities may lower the Funds’ returns since the Funds may be unable to sell these securities at their desired time or price. Derivatives also may involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly with the value of the underlying asset, rate or index. Whether a Fund’s use of derivatives is successful may depend on, among other things, the Fund’s ability to correctly forecast market movements, changes in foreign exchange and interest rates, and other factors. If a Fund incorrectly forecasts these and other factors, its performance could suffer. A Fund’s use of derivatives could result in a loss exceeding the amount of the Fund’s investment in these instruments.

Geopolitical and other events, such as war, acts of terrorism, tariffs and other restrictions on trade, natural disasters, the spread of infectious illnesses, epidemics and pandemics, environmental and other public health issues, supply chain disruptions, inflation, recessions or other events, and governments’ reactions to such events, may lead to increased market volatility and instability in world economies and markets generally and may have adverse effects on the performance of a Fund and its investments.

A widespread health crisis, such as a global pandemic, could cause substantial market volatility, impact the ability to complete redemptions, and adversely impact Fund performance. For example, the effects to public health, business and market conditions resulting from the COVID-19 pandemic have had, and may in the future have, a significant negative impact on the performance of each Fund’s investments, including exacerbating other pre-existing political, social and economic risks. In addition, the increasing interconnectedness of markets around the world may result in many markets being affected by events or conditions in a single country or region or events affecting a single or small number of issuers.

It is difficult to accurately predict or foresee when events or conditions affecting the U.S. or global financial markets, economies, and issuers may occur, the effects of such events or conditions, potential escalations or expansions of these events, possible retaliations in response to sanctions or similar actions and the duration or ultimate impact of those events. The foregoing could disrupt the operations of each Fund and its service providers, adversely affect the value and liquidity of each Fund’s investments and negatively impact each Fund’s performance and your investment in each Fund.

The Funds invest in Affiliated Funds managed by Lord Abbett. As of May 31, 2026, each Fund’s long-term investments were allocated among the Affiliated Funds as follows:

Each Affiliated Fund’s annual and semiannual reports, which are sent to shareholders and filed with the SEC, contain information about the Affiliated Fund’s portfolio holdings, including a complete schedule of holdings. A complete schedule of holdings for each Affiliated Fund, with the exception of PCF, is also filed with the SEC on Form N-PORT as of the end of each respective Affiliated Fund’s first and third quarters. With respect to PCF, a complete schedule of holdings is filed in its quarterly reports on Form 10-Q and annual reports on Form 10-K. In addition, on or about the first day of the second month following each calendar quarter-end, each Affiliated Fund, with the exception of PCF, makes publicly available a complete schedule of its portfolio holdings as of the last day of each such quarter. The information for the most recently ended calendar quarter may be viewed at www.lordabbett.com or requested at no charge by calling Lord Abbett at 888-522-2388.

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

(Lord Abbett Multi-Asset Balanced Opportunity Fund and Lord Abbett Multi-Asset Income Fund)

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

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

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

Investment Management and Related Services Generally. The Board considered the services provided by Lord Abbett to each Fund, including investment research, portfolio management, risk oversight and trading, and Lord Abbett’s commitment to compliance with all applicable legal requirements and investments undertaken to enhance its compliance oversight. The Board also observed that Lord Abbett was solely engaged in the investment management business and accordingly did not experience the conflicts of interest that may result from being engaged in other lines of business, although the Board was mindful that other conflicts of interest may exist. The Board considered the investment advisory services provided by Lord Abbett to other clients, the fees charged for the services, and the differences in the nature of the services provided to each Fund and other Lord Abbett Funds, on the one hand, and the services provided to other clients, on the other. The Board observed that differences in fee rates between these clients and the Lord Abbett Funds are not uniform when examined on a fund-by-fund basis, suggesting that differences in the pricing of investment management services to these clients may reflect a variety of factors, including historical competitive forces operating in separate marketplaces. The Board considered the fact that in many instances, fee rates are higher on average for mutual fund clients than for other clients. The Board did not rely on these comparisons to any significant extent in reaching their decision. After reviewing these and related factors, the Board concluded that each Fund was likely to continue to benefit from the nature, extent and quality of the investment services provided by Lord Abbett under the Agreement.

Investment Performance. The Board reviewed each Fund’s investment performance in relation to that of its performance peer group and two appropriate benchmarks as of various periods ended June 30, 2025. As to Multi-Asset Balanced Opportunity Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, and five-year periods but below the median of the performance peer group for the ten-year period. As to Multi-Asset Income Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, and five-year periods and equal to the median of the performance peer group for the ten-year period. In both cases, the Board considered Lord Abbett’s explanation of the Fund’s performance. Additionally, the Board took into account actions taken by Lord Abbett over time to attempt to improve fund performance of other Lord Abbett Funds, which would benefit the Funds through their investments in those Funds. The Board further considered Lord Abbett’s performance and reputation generally, the performance of other Lord Abbett-managed funds overseen by the Board, and the willingness of Lord Abbett to take steps intended to improve performance when appropriate. After reviewing these and other factors, including those described below, the Board concluded that each Fund’s Agreement should be continued.

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

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

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

Expenses. The Board considered the expense level of each Fund, including the contractual and actual management fee rates, and the expense levels of the Fund’s expense peer group. It also considered how each of the expense level and the actual management fee rates of each Fund related to those of the expense peer group and the amount and nature of the fees paid by shareholders. As to each Fund, the Board observed that while the net total expense ratio of the Fund was above the median of the expense peer group, the Fund’s actual management fee (excluding underlying fund fees) was below the median of the expense peer group. After reviewing these and related factors, the Board concluded, within the context of its overall approval of the Agreement, that the management fee schedule in place for each Fund was reasonable in light of all of the factors it considered, including the nature, quality and extent of services provided by Lord Abbett.

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

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

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

with each Fund. The Board observed that the Distributor receives 12b-1 fees from certain of the Lord Abbett Funds as to shares held in accounts for which there is no other broker of record, that the Distributor may retain a portion of the 12b-1 fees it receives, and that the Distributor receives a portion of the sales charges on sales and redemptions of some classes of shares of the Lord Abbett Funds. In addition, the Board observed that Lord Abbett accrues certain benefits for its business of providing investment advice to clients other than the Lord Abbett Funds, but that business also benefits the Funds. The Board also considered that Lord Abbett accrues certain benefits from sponsoring funds that invest in other Lord Abbett Funds and the fees that Lord Abbett receives from the underlying Funds. The Board also noted that Lord Abbett has entered into revenue sharing arrangements with certain entities that distribute shares of the Lord Abbett Funds. The Board also took into consideration the investment research that Lord Abbett receives as a result of client brokerage transactions, including its mutual fund clients.

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

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

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

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

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

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation and a summary of unobservable inputs as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

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

The following is a reconciliation of investments with unobservable inputs (Level 3) that were used in determining fair value:

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers - Sell Protection at May 31, 2026⁽¹⁾:

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers - Sell Protection at May 31, 2026⁽¹⁾:

Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at May 31, 2026:

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Centrally Cleared Credit Default Swap Contracts on Indexes/Issuers - Sell Protection at May 31, 2026⁽¹⁾:

Credit Default Swap Contracts on Indexes/Issuers - Sell Protection at May 31, 2026⁽¹⁾:

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

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

The following is a reconciliation of investments with unobservable inputs (Level 3) that were used in determining fair value:

The following is a summary of the inputs used as of May 31, 2026 in valuing the Fund’s investments carried at fair value⁽¹⁾:

The Trust currently consists of thirteen funds as of May 31, 2026. This report covers the following eleven funds (separately, a “Fund” and collectively, the “Funds”) and their respective active share classes at May 31, 2026:

The Funds’ Class P shares are closed to substantially all new investors, with certain exceptions as set forth in the Funds’ prospectus.

Convertible Fund’s investment objective is to seek current income and the opportunity for capital appreciation to produce a high total return. Each of Core Fixed Income Fund’s, Core Plus Bond Fund’s and Total Return Fund’s investment objective is to seek income and capital appreciation to produce a high total return. Floating Rate Fund’s investment objective is to seek a high level of current income. High Yield Fund’s investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return. Each of Income Fund’s and Short Duration Income Fund’s investment objective is to seek a high level of income consistent with preservation of capital. Inflation Focused Fund’s primary investment objective is to provide investment returns that exceed the rate of inflation in the U.S. economy over a full economic cycle. As a secondary objective, the Fund seeks current income. Each of Short Duration Core Bond Fund’s and Ultra Short Bond Fund’s investment objective is to seek current income consistent with the preservation of capital.

Each class of shares has different expenses and dividends. A front-end sales charge is normally added to the net asset value (“NAV”) for Class A and A1 shares. There is no front-end sales charge in the case of Class C, F, F3, I, P, R2, R3, R4, R5 and R6 shares, although there may be a contingent deferred sales charge (“CDSC”) in certain cases as follows: Class A shares purchased without a sales charge and redeemed before the first day of the month in which the one-year anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); Class A1 shares purchased without a sales charge and redeemed before the first day of the month in which the eighteenth month anniversary of the purchase falls (subject to certain exceptions as set forth in each Fund’s prospectus); and Class C shares redeemed

before the first anniversary of purchase. Class C shares automatically convert to Class A shares on the 25th day of the month (or, if the 25th day is not a business day, the next business day thereafter) following the eighth anniversary of the month on which the purchase order was accepted, provided that the Funds or financial intermediary through which a shareholder purchased Class C shares have records verifying that the Class C shares have been held at least eight years.

The CODM for the Funds is the Investment Committee of Lord, Abbett & Co. LLC (“Lord Abbett”), which represents the highest-level body responsible for evaluating each Fund’s operating performance and making decisions regarding resource allocation. The Investment Committee regularly reviews each Fund’s operating results, including investment performance and financial information, in making strategic and operational decisions.

portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers, and other market sources to determine fair value.

Securities actively traded on any recognized U.S. or non-U.S. exchange or on the NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Pricing Committee uses a third-party fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Fixed income securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuations and the independent pricing services’ own electronic data processing techniques. Floating rate loans are valued at the average of bid and ask quotations obtained from dealers in loans on the basis of prices supplied by independent pricing services. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Swaps, options and options on swaps are valued daily using independent pricing services or quotations from broker/dealers to the extent available.

Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use observable inputs such as yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.

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

Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk – for example,

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

A summary of inputs used in valuing each Fund’s investments and other financial instruments as of May 31, 2026 and, if applicable, Level 3 rollforwards for the six months then ended is included in each Fund’s Schedule of Investments.

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

are periodically reset by reference to a base lending rate plus a spread. These base lending rates are generally the prime rate offered by a designated U.S. bank or Secured Overnight Financing Rate (“SOFR”).

The loans in which each Fund invests may be subject to some restrictions on resale. For example, each Fund may be contractually obligated to receive approval from the Agent and/or Borrower prior to the sale of these investments. Each Fund generally has no right to enforce compliance with the terms of the loan agreement with the Borrower. As a result, each Fund assumes the credit risk of the Borrower, the selling participant and any other persons interpositioned between each Fund and the Borrower (“Intermediate Participants”). In the event that the Borrower, selling participant or Intermediate Participants become insolvent or enter into bankruptcy, each Fund may incur certain costs and delays in realizing payment or may suffer a loss of principal and/or interest.

Unfunded commitments represent the remaining obligation of each Fund to the Borrower. At any point in time, up to the maturity date of the issue, the Borrower may demand the unfunded portion. Until demanded by the Borrower, unfunded commitments are not recognized as an asset on the Statements of Assets and Liabilities. Unrealized appreciation/(depreciation) on unfunded commitments is presented, if any, on the Statements of Assets and Liabilities and represents the mark to market of the unfunded portion of each Fund’s floating rate notes.

Derivatives–During the six months ended May 31, 2026, the Funds used derivative instruments including forward foreign currency exchange contracts, futures contracts, swap contracts and options in connection with their investment strategies. Derivative instruments may be used as substitutes for securities in which the Funds can invest, to hedge portfolio investments or to generate income or gain to the Funds. Derivatives may also be used to manage duration, sector and yield curve exposures and credit and spread volatility.

The Funds may be subject to various risks from the use of derivatives, including the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties’ failure to perform under contract terms; liquidity risk related to the potential lack of a liquid market for these contracts allowing the Funds to close out their position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Funds’ risk of loss associated with these instruments may exceed their value, as recorded on the Statements of Assets and Liabilities.

The Funds are party to various derivative contracts governed by International Swaps and Derivatives Association master agreements (“ISDA agreements”). The Funds’ ISDA agreements, which are separately negotiated with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not

otherwise waived, against the Funds in the event the Funds’ net assets decline over time by a pre-determined percentage or fall below a pre-determined floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Funds to exercise rights, to the extent not otherwise waived, against a counterparty (e.g., decline in a counterparty’s credit rating below a specified level). Such rights for both a counterparty and the Funds often include the ability to terminate (i.e., close out) open contracts at prices which may favor a counterparty, which could have an adverse effect on the Funds. The ISDA agreements give the Funds and a counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable against collateral posted to a segregated account by one party for the benefit of the other.

Counterparty credit risk may be mitigated to the extent a counterparty posts additional collateral for mark-to-market gains to the Funds.

Forward Foreign Currency Exchange Contracts–During the six months ended May 31, 2026, the Funds listed in the tables below were exposed to foreign currency risks associated with some or all of their portfolio investments and, during the six months ended May 31, 2026, used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. dollars without the delivery of the foreign currency.

The values of the forward foreign currency exchange contracts are adjusted daily based on the applicable exchange rate of the underlying currency. Changes in the value of these contracts are recorded as unrealized appreciation or depreciation until the contract settlement date. When the forward foreign currency exchange contract is closed, the Funds record a realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed. The Funds also record a realized gain or loss, upon settlement, when a forward foreign currency exchange contract offsets another forward foreign currency exchange contract with the same counterparty.

The Funds’ forward foreign currency exchange contracts are subject to master netting arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions).

The Funds may be required to post or receive collateral for non-deliverable forward foreign currency exchange contracts.

Futures Contracts–During the six months ended May 31, 2026, the Funds listed in the tables below entered into futures contracts to manage and hedge interest rate risk associated with portfolio investments. During the six months ended May 31, 2026, the Funds also purchased futures contracts to invest incoming cash in the market or sold futures in response to cash outflows, thereby simulating an invested position in the underlying index while maintaining a cash balance for liquidity. Futures contracts provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Funds are required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin

deposit. Subsequent payments, referred to as variation margin, are made or received by the Funds periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as Net change in unrealized appreciation/(depreciation) on futures contracts on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the Schedules of Investments, while cash deposited, which is considered restricted, is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities.

The use of futures contracts exposes the Funds to equity price, foreign exchange and interest rate risks. The Funds may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Funds to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Funds to unlimited risk of loss. The Funds may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Funds’ credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of positions.

The Funds’ futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

Swap Contracts–The Funds may engage in swap transactions to manage credit and interest rate (e.g., duration, yield curve) risks within their respective portfolios. Swap transactions are contracts negotiated over-the-counter (“OTC”) between a fund and a counterparty or are centrally cleared (“centrally cleared swaps”) through a central clearinghouse managed by a Futures Commission Merchant (“FCM”) that exchange investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals.

Upfront payments made and/or received by the Funds are recorded as assets or liabilities, respectively, on the Statements of Assets and Liabilities and are amortized over the term of the swap. The value of OTC swap contract agreements are recorded as either an asset or a liability on the Statements of Assets and Liabilities at the beginning of the measurement period. Upon entering into a centrally cleared swap, the Funds are required to deposit with the FCM cash or securities, which is referred to as initial margin deposit. Securities deposited as initial margin are designated on the Schedules of Investments, while cash deposited, which is considered restricted, is reported as Deposits with broker for swap contracts collateral on the Statements of Assets and Liabilities. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a variation margin receivable or payable on the Statements of Assets and Liabilities. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as Net change in unrealized appreciation/(depreciation) on swap contracts on the Statements of Operations. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.

The central clearinghouse acts as the counterparty to each centrally cleared swap transaction; therefore credit risk is limited to the failure of the clearinghouse.

The Funds’ OTC swap contract agreements are subject to master netting arrangements.

Credit Default Swap Contracts–During the six months ended May 31, 2026, the Funds listed in the tables below entered into credit default swaps to simulate long and/or short bond positions or to take an active long and/or short position with respect to the likelihood of a default or credit event by the issuer of the underlying reference obligation.

The underlying reference obligation may be a single issuer of corporate or sovereign debt, a basket of issuers or a credit index. A credit index is a list of credit instruments or exposures that reference a fixed number of obligors with shared characteristics that represents some part of the credit market as a whole. Index credit default swaps have standardized terms including a fixed spread and standard maturity dates. The composition of the obligations within a particular index changes periodically.

Credit default swaps involve one party, the protection buyer, making a stream of payments to another party, the protection seller, in exchange for the right to receive a contingent payment if there is a credit event related to the underlying reference obligation. In the event that the reference obligation matures prior to the termination date of the contract, a similar security will be substituted for the duration of the contract term. Credit events are defined under individual swap agreements and generally include bankruptcy, failure to pay, restructuring, repudiation/moratorium, obligation acceleration and obligation default.

If a credit event occurs, the Funds, as protection sellers, would be obligated to make a payment, which may be either: (i) a net cash settlement equal to the notional amount of the swap less the auction value of the reference obligation or (ii) the notional amount of the swap in exchange for the delivery of the reference obligation. Selling protection effectively adds leverage to the Fund’s portfolio up to the notional amount of swap agreements. The notional amount represents the maximum potential liability under a contract and is not reflected on the Statements of Assets and Liabilities. Potential liabilities under these contracts may be reduced by: the auction rates of the underlying reference obligations; upfront payments received at the inception of a swap; and net amounts received from credit default swaps purchased with identical reference obligations.

Inflation-Linked Swap Contracts–During the six months ended May 31, 2026, the Funds listed in the tables below entered into inflation-linked derivatives, such as Consumer Price Index swap contract agreements (“CPI swap contracts”). A CPI swap contract is a contract in which one party agrees to pay a fixed rate in exchange for a variable rate, which is the rate of change in the CPI during the life of the contract. Payments are based on a notional amount of principal. Each Fund will normally enter into CPI swap contracts on a zero coupon basis, meaning that the floating rate will be based on the cumulative CPI during the life of the contract, and the fixed rate will compound until the swap contract’s maturity date, at which point the payments are netted. The swap contracts are valued daily and any unrealized gain/(loss) is included in the Net change in unrealized appreciation/(depreciation) on swap contracts in the Fund’s Statement of Operations. A liquidation payment received or made at the termination or maturity of the swap contract is recorded in realized gain/(loss) and is included in Net realized gain/(loss) on swap contracts in the Fund’s Statement of Operations. Daily changes in valuation of centrally cleared CPI swap contracts, if any, are recorded as a receivable or payable for the change in value as

appropriate (“variation margin”) on the Statements of Assets and Liabilities. For the centrally cleared CPI swap contracts, there was minimal counterparty risk to the Funds since such CPI swap contracts entered into were traded through a central clearinghouse, which guarantees against default.

Interest Rate Swap Contracts–During the six months ended May 31, 2026, the Funds listed in the tables below entered into interest rate swap contracts to manage fund exposure to interest rates or to either preserve or generate a return on a particular investment or portion of their portfolios. These are agreements between counterparties to exchange periodic interest payments based on interest rates. One cash flow stream will typically be a floating rate payment based upon a specified interest rate, while the other is typically based on a fixed interest rate.

Total Return Swap Contracts–During the six months ended May 31, 2026, the Funds listed in the tables below entered into total return swap contract agreements to obtain exposure to a security or market without owning such security or investing directly in that market. The Funds may agree to make payments that are the equivalent of interest in exchange for the right to receive payments equivalent to any appreciation in the value of an underlying security, index or other asset, as well as receive payments equivalent to any distributions made on that asset, over the term of the swap contract. If the value of the asset underlying a total return swap contract declines over the term of the swap contract, the Funds also may be required to pay an amount equal to that decline in value to their counterparty.

Options–During the six months ended May 31, 2026, the Funds listed in the tables below have purchased and written exchange-listed and over-the-counter put or call options on securities, stock indices, currencies and other financial instruments for hedging purposes, to enhance portfolio returns and reduce overall volatility.

When a Fund writes (sells) an option, an amount equal to the premium received by each Fund is recorded as a liability in the Statements of Assets and Liabilities. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, each Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by each Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. Each Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying investment. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.

Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that each Fund pays a premium whether or not the option is exercised. Additionally, each Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract. Realized and net change in unrealized gains and losses on purchased options are included in Net realized and Net change in unrealized appreciation/(depreciation) on investments, respectively, in the Funds’ Statements of Operations.

Summary of Derivatives Information–As of May 31, 2026, the Funds in the tables below had the following derivatives at fair value, grouped into appropriate risk categories and respective location on the Statements of Assets and Liabilities:

The following tables present the effect of derivatives for each Fund on the Statements of Operations for the six months ended May 31, 2026:

Disclosures About Offsetting Assets And Liabilities–FASB requires disclosures intended to help better assess the effect or potential effect of offsetting arrangements on a fund’s financial position. The following tables illustrate gross and net information about recognized assets and liabilities eligible for offset in the Statements of Assets and Liabilities; and disclose such amounts subject to an enforceable master netting agreement or similar agreement, by counterparty. A master netting agreement is an agreement between a fund and a counterparty which provides for the net settlement of amounts owed under all contracts traded under that agreement, as well as cash collateral, through a single payment by one party to the other in

the event of default on or termination of any one contract. The Funds’ accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the master netting agreement does not result in an offset of reported amounts of financial assets and liabilities in the Statements of Assets and Liabilities across transactions between the Funds and the applicable counterparty.

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

For the six months ended May 31, 2026, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund’s average daily net assets:

Lord Abbett voluntarily waived certain fees and expenses during the six months ended May 31, 2026:

For the six months ended May 31, 2026 and continuing through March 31, 2027, Lord Abbett has contractually agreed to waive its fees and reimburse expenses to the extent necessary to limit total net annual operating expenses for each class, excluding certain of the Funds’ expenses, to the following annual rates:

For the six months ended May 31, 2026 and continuing through March 31, 2027, Lord Abbett has contractually agreed to waive Core Fixed Income Fund’s and Total Return Fund’s Class I shareholder servicing expenses at an annual rate of .04% of each Fund’s average daily net assets.

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

Each Fund has adopted a distribution plan with respect to Class A, A1, C, F, P, R2, R3 and R4 shares pursuant to Rule 12b-1 under the 1940 Act, which provides for the payment of ongoing distribution and service fees to Lord Abbett Distributor LLC (the “Distributor”), an affiliate of Lord Abbett. The distribution and service fees are accrued daily and payable monthly. The following annual rates have been authorized by the Board pursuant to the plan:

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

The Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, during the six months ended May 31, 2026:

The Distributor received the following amounts of CDSCs for the six months ended May 31, 2026:

As of May 31, 2026, the percentages of the Funds’ outstanding shares owned by other Lord Abbett funds that invest principally in affiliated mutual funds managed by Lord Abbett were as follows:

One Trustee and certain of the Trust’s officers have an interest in Lord Abbett.

The tax character of distributions paid during the six months ended May 31, 2026 was as follows:

The tax character of distributions paid during the fiscal year ended November 30, 2025 was as follows:

As of May 31, 2026, the tax cost of investments and the breakdown of unrealized appreciation/(depreciation) for each Fund are shown below. The difference between book-basis and tax-basis unrealized appreciation/(depreciation) is attributable to the tax treatment of certain securities, certain distributions, amortization of premium, other financial instruments and wash sales.

Purchases and sales of investment securities (excluding short-term investments) for the six months ended May 31, 2026 were as follows:

Each Fund is permitted to purchase and sell securities (“cross-trade”) from and to other Lord Abbett funds or client accounts pursuant to procedures approved by the Board in compliance with Rule 17a-7 under the 1940 Act (the “Rule”). Each cross-trade is executed at a fair market price in compliance with provisions of the Rule. For the six months ended May 31, 2026, the Funds did not engage in cross-trade purchases or sales.

of each fund. There is an equity-based plan available to all Independent Trustees under which Independent Trustees may elect to defer receipt of a portion of Trustees’ fees. The deferred amounts are treated as though equivalent dollar amounts had been invested in the Funds. Such amounts and earnings accrued thereon are included in Trustees’ fees in the Statements of Operations and in Trustees’ fees payable in the Statements of Assets and Liabilities and are not deductible for U.S. federal income tax purposes until such amounts are paid.

For the period ended May 31, 2026, the Funds and certain other funds managed by Lord Abbett (collectively, the “Participating Funds”) were party to a syndicated line of credit facility with various lenders for $1.675 billion (the “Syndicated Facility”) under which SSB participated as a lender and as agent for the lenders. The Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million, $300 million, $700 million or $1 billion, in each case based on past borrowings and likelihood of future borrowings, among other factors.

Effective June 5, 2026, the Participating Funds renewed the Syndicated Facility for $1.8 billion. The Participating Funds are subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million, $500 million, $700 million or $1 billion, in each case based on past borrowings and likelihood of future borrowings, among other factors.

For the period ended May 31, 2026, the Participating Funds were also party to an additional uncommitted line of credit facility with SSB for $330 million (the “Bilateral Facility”). Under the Bilateral Facility, the Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million based on past borrowings and likelihood of future borrowings, among other factors.

Effective June 5, 2026, the Participating Funds renewed the Bilateral Facility in the same amount. The Participating Funds remain subject to the same borrowing limits as were in place prior to the renewal.

Interest associated with these credit facilities is charged to each Fund based on its borrowings generally at an amount above the Federal Funds rate or at the negotiated rate for swing line loans. In addition, there is a fee computed at an annual rate of 0.20% on the daily unused portion of the Syndicated Facility which is allocated among the Participating Funds at the end of each quarter and is included with Other Expenses on the Statements of Operations. There is no fee associated with the unused portion of the Bilateral Facility.

These credit facilities are to be used for short-term working capital purposes as additional sources of liquidity to satisfy redemptions.

For the six months ended May 31, 2026, the Funds did not utilize the Syndicated Facility or Bilateral Facility.

participate in the Interfund Lending Program to borrow money from and lend money to each other for temporary or emergency purposes subject to the limitations and conditions.

During the six months ended May 31, 2026, the Funds did not participate as a borrower or lender in the Interfund Lending Program.

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

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

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

As of May 31, 2026, the market value of securities loaned and collateral received were as follows:

Each Fund is subject to the general risks and considerations associated with investing in fixed income securities and to the changing prospects of individual companies and/or sectors in which the Funds invest. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates rise, the prices of fixed income securities are likely to decline, when interest rates fall, such prices tend to rise. Longer-term securities are usually more sensitive to interest rate changes. There is also the risk that an issuer of a fixed income security will fail to make timely payments of principal and/or interest to a Fund, a risk that is greater with high-yield bonds (sometimes called “junk bonds”) in which one or more of the Funds may invest. Some issuers, particularly of high-yield bonds may default as to principal and/or interest payments after the Fund purchases their securities. A default, or concerns in the market about an increase in risk of default may result in losses to each Fund. High-yield bonds are subject to greater price fluctuations and increase liquidity risk as well as additional risks.

Because the Ultra Short Bond Fund invests a significant portion of its assets in securities issued by companies in the financial services industry, developments affecting this industry may have a disproportionate impact on the Fund. Interest rate risk, credit risk and the risk of regulatory changes in the financial services industry, among other risks, may have negative effect on companies in the financial services industry.

The values of equity holdings of Convertible Fund will fluctuate in response to movements in the equity securities market in general and to the changing prospects of the individual companies and/or sectors in which the Fund invests.

Convertible Fund, High Yield Fund, Income Fund, Inflation Focused Fund and Short Duration Income Fund are subject to the general risks and considerations associated with investing in convertible securities which have both equity and fixed income risk characteristics including market, credit, liquidity and interest rate risks. Generally, convertible securities offer lower interest or dividend yields than non-convertible securities of similar quality and less potential for gains or capital appreciation in a rising equity securities market than equity securities. They tend to be more volatile than other fixed income securities, and the markets for convertible securities may be less liquid than markets for stocks or bonds. A significant portion of convertible securities have below investment grade credit ratings and are subject to increased credit and liquidity risks.

Each Fund’s investment exposure to foreign (which may include emerging markets) companies presents increased market, liquidity, currency, political, information and other risks. The cost of a Fund’s potential use of forward foreign currency exchange contracts varies with factors such as the currencies involved, the length of the contract period and the market conditions prevailing.

Each Fund is subject to the risks associated with derivatives, which may be different from and greater than the risks associated with directly investing in securities. Derivatives may be subject to risks such as liquidity risk, leveraging risk, interest rate risk, market risk, and credit risk. Illiquid securities may lower the Funds’ returns since the Funds may be unable to sell these securities at their desired time or price. Derivatives also may involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly with the value of the underlying asset, rate or index. Whether a Fund’s use of derivatives is successful may depend on, among other things, the Fund’s ability to correctly forecast market movements, changes in foreign exchange and interest rates, and other factors.

If a Fund incorrectly forecasts these and other factors, its performance could suffer. A Fund’s use of derivatives could result in a loss exceeding the amount of the Fund’s investment in these instruments.

Each Fund may invest in swap contracts. Swap contracts are bi-lateral agreements between a fund and its counterparty. Each party is exposed to the risk of default by the other in addition to the risks associated with investing in derivatives discussed above. In addition, they may involve a small investment of cash compared to the risk assumed with the result that small changes may produce disproportionate and substantial gains or losses to the Funds.

The Funds are subject to the risks of investing in credit default swap contracts. The risks associated with the Funds’ investment in credit default swap contracts are greater than if the Funds invested directly in the reference obligation because they are subject to liquidity risk, counterparty risk, and credit risk at both the counterparty and underlying issuer levels in addition to the risks associated with investing in derivatives discussed above.

Each Fund’s exposure to inflation-linked investments, such as Treasury Inflation Protected Securities, may be vulnerable to changes in expectations of inflation or interest rates and there is no guarantee that the Fund’s use of these instruments will be successful.

The Funds are subject to the risks of investing in floating rate or adjustable rate senior loans, which are subject to increased credit and liquidity risks. Senior loans are business loans made to borrowers that may be U.S. or foreign corporations, partnerships or other business entities. The senior loans in which Core Fixed Income Fund, Core Plus Bond Fund, Floating Rate Fund, High Yield Fund, Income Fund, Inflation Focused Fund, Short Duration Income Fund and Total Return Fund may invest may consist primarily of senior loans that are rated below investment grade or, if unrated, deemed by Lord Abbett to be equivalent to below investment grade securities. Below investment grade senior loans, as in the case of high-yield debt securities, or junk bonds, are usually more credit sensitive than interest rate sensitive, although the value of these instruments may be impacted by broader interest rate swings in the overall fixed income market. In addition, Floating Rate Fund may invest up to 20% of its total assets in senior loans that are not secured by any specific collateral.

Each Fund is subject to the risk of investing in securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities (such as the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”), or the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. Government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. Government and no assurance can be given that the U.S. Government would provide financial support to its agencies and instrumentalities if not required to do so by law. Consequently, the Fund may be required to look principally to the agency issuing or guaranteeing the obligation.

Convertible Fund, Core Fixed Income Fund, Core Plus Bond Fund, Floating Rate Fund, High Yield Fund, Income Fund, Inflation Focused Fund, Short Duration Core Bond Fund, Short Duration Income Fund and Total Return Fund are subject to the risks of investing in asset backed securities and mortgage related securities, including those of such Government sponsored enterprises as Fannie Mae and Freddie Mac. In addition, these Funds may invest in non-agency backed and mortgage related securities, which are issued by the private institutions, not by the government-sponsored enterprises. Such securities may be particularly sensitive to changes

in economic conditions, including delinquencies and/or defaults, and changes in prevailing interest rates. These changes can affect the value, income and/or liquidity of such positions. When interest rates are declining, the value of these securities with prepayment features may not increase as much as other fixed income securities. Early principal repayment may deprive a Fund of income payments above current markets rates. The prepayment rate also will affect the price and volatility of a mortgage-related security. In addition, securities of government sponsored enterprises are guaranteed with respect to the timely payment of interest and principal by the particular enterprise involved, not by the U.S. Government.

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

(Lord Abbett Convertible Fund, Lord Abbett Core Fixed Income Fund, Lord Abbett Core Plus Bond Fund, Lord Abbett Floating Rate Fund, Lord Abbett High Yield Fund, Lord Abbett Income Fund, Lord Abbett Inflation Focused Fund, Lord Abbett Short Duration Core Bond Fund, Lord Abbett Short Duration Income Fund, Lord Abbett Total Return Fund, and Lord Abbett Ultra Short Bond Fund)

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

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

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

the Fund; (6) information regarding Lord Abbett’s financial condition; (7) an analysis of the relative profitability to Lord Abbett of providing management and administrative services to the Funds; (8) information provided by Lord Abbett regarding the investment management fee schedules for Lord Abbett’s other advisory clients maintaining accounts with a similar investment strategy as the Fund (for each Fund other than Convertible Fund, Income Fund, and Inflation Focused Fund); and (9) information regarding the personnel and other resources devoted by Lord Abbett to managing the Fund.

Investment Performance. The Board reviewed each Fund’s investment performance in relation to that of its performance peer group and one or more appropriate benchmarks as of various periods ended June 30, 2025. As to Convertible Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, and ten-year periods and equal to the median of the performance peer group for the five-year period. As to Core Fixed Income Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one- and five-year periods but below the median of the performance peer group for the three- and ten-year periods. As to Core Plus Bond Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, and five-year periods. As to Ultra Short Bond Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-year period and equal to the median of the performance peer group for the three-year period, but below the median of the performance peer group for the five-year period. As to Floating Rate Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the three- and five-year periods but below the median of the performance peer group for the one- and ten-year periods. As to High Yield Fund, the Board observed that the Fund’s

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

investment performance was below the median of the performance peer group for the one-, three-, five-, and ten-year periods. As to Income Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the three- and five-year periods and equal to the median of the performance peer group for the ten-year period, but below the median of the performance peer group for the one-year period. As to Inflation Focused Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, three-, five-, and ten-year periods. As to Short Duration Core Bond Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the five-year period and equal to the median of the performance peer group for the three-year period, but below the median of the performance peer group for the one-year period. As to Short Duration Income Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-, five-, and ten-year periods but below the median of the performance peer group for the three-year period. As to Total Return Fund, the Board observed that the Fund’s investment performance was above the median of the performance peer group for the one-year period and equal to the median of the performance peer group for the five-year period, but below the median of the performance peer group for the three- and ten-year periods although the Fund outperformed its benchmark for each of these periods. For each Fund, the Board considered Lord Abbett’s explanation of the Fund’s performance. The Board further considered Lord Abbett’s performance and reputation generally, the performance of other Lord Abbett-managed funds overseen by the Board, and the willingness of Lord Abbett to take steps intended to improve performance when appropriate, including changes to certain Funds’ portfolio management teams. After reviewing these and other factors, including those described below, the Board concluded that each Fund’s Agreement should be continued.

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

Expenses. The Board considered the expense level of each Fund, including the contractual and actual management fee rates, and the expense levels of the Fund’s expense peer group. It also considered how each of the expense level and the actual management fee rates of each Fund related to those of the expense peer group and the amount and nature of the fees paid by shareholders. As to Convertible Fund and High Yield Fund, the Board observed that the net total expense ratio and management fee of the Fund were both above the median of the expense peer group. As to Inflation Focused Fund, the Board observed that both the net total expense ratio and the management fee were equal to the median of the expense peer group. As to each other Fund, the Board observed that the net total expense ratio and the management fee were both below the peer group median. After reviewing these and related factors, the Board

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

concluded, within the context of its overall approval of the Agreement, that the management fee schedule in place for each Fund was reasonable in light of all of the factors it considered, including the nature, quality and extent of services provided by Lord Abbett.

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

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

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

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

		Schedule of Investments (Item 7)

1		Multi-Asset Balanced Opportunity Fund

3		Multi-Asset Income Fund

5		Statements of Assets and Liabilities (Item 7)

7		Statements of Operations (Item 7)

8		Statements of Changes in Net Assets (Item 7)

10		Financial Highlights (Item 7)

18		Notes to Financial Statements (Item 7)

36		Investments in Affiliated Funds

37		Changes in and Disagreements with Accountants (Item 8)

37		Proxy Disclosures (Item 9)

37		Remuneration Paid to Trustees, Officers, and Others (Item 10)

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

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.99%

INVESTMENTS IN AFFILIATED FUNDS^(a)99.99%
Lord Abbett Affiliated Fund, Inc.-Class I^(b)(c)		8,028,391	$	176,062,626
Lord Abbett Investment Trust-Core Fixed Income Fund-Class I^(b)(d)		33,390,501		307,860,422
Lord Abbett Investment Trust-Core Plus Bond Fund-Class I^(b)(d)		17,686,236		225,853,232
Lord Abbett Research Fund, Inc.-Dividend Growth Fund-Class I^(b)(e)		10,352,820		280,354,359
Lord Abbett Securities Trust-Fundamental Equity Fund-Class I^(b)(c)		15,144,574		260,032,339
Lord Abbett Securities Trust-Growth Leaders Fund-Class I*^(b)(f)		4,496,847		279,119,317
Lord Abbett Investment Trust-High Yield Fund-Class I^(b)(g)		18,833,198		119,402,473
Lord Abbett Securities Trust-International Equity Fund-Class I^(b)(h)		4,913,233		105,683,643
Lord Abbett Securities Trust-International Value Fund-Class I^(b)(i)		7,706,387		90,241,788
Lord Abbett Investment Trust-Short Duration Income Fund-Class I^(b)(j)		8,340,251		80,817,035
Lord Abbett Investment Trust-Ultra Short Bond Fund-Class I^(b)(k)		3,645,630		36,529,209
Lord Abbett Securities Trust-Value Opportunities Fund-Class I^(b)(l)		2,449,713		51,860,419
Lord Abbett Private Credit Fund^(m)(n)(o)		1,825,974		45,247,627
Total Investments in Affiliated Funds (cost $1,726,156,597)				2,059,064,489

	Principal Amount
SHORT-TERM INVESTMENTS 0.09%

REPURCHASE AGREEMENTS 0.09%
Repurchase Agreement dated 5/29/2026, 3.250% due 6/1/2026 with Fixed Income Clearing Corp. collateralized by $1,879,300 of U.S. Treasury Bill at 0.000% due 11/27/2026; value: $1,844,810; proceeds: $1,808,991 (cost $1,808,501)	$	1,808,501		1,808,501
Total Investments in Securities 100.08% (cost $1,727,965,098)				2,060,872,990
Other Assets and Liabilities – Net (0.08)%				(1,665,886	)
Net Assets 100.00%			$	2,059,207,104

*		Non-income producing security.
^(a)		See Note 10.
^(b)		These investments offer daily redemptions.
^(c)		Fund investment objective is long-term growth of capital and income without excessive fluctuations in market value.
^(d)		Fund investment objective is to seek income and capital appreciation to produce a high total return.
^(e)		Fund investment objective is to seek current income and capital appreciation.
^(f)		Fund investment objective is to seek capital appreciation.
^(g)		Fund investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return.
^(h)		Fund investment objective is to seek long-term capital appreciation.
⁽ⁱ⁾		Fund investment objective is to seek a high level of total return.
^(j)		Fund investment objective is to seek a high level of income consistent with preservation of capital.

^(k)		Fund investment objective is to seek current income consistent with the preservation of capital.
^(l)		Fund investment objective is long-term capital appreciation.
^(m)		Fund investment objective is to generate current income and, to a lesser extent, long-term capital appreciation.
⁽ⁿ⁾		Restricted securities (including private placement) – investments in securities not registered under the Securities Act of 1933 (excluding 144A issues). At May 31, 2026, the value of restricted securities (excluding 144A issues) amounted to $45,247,627 or 2.20% of net assets (see Note 2(g)).
^(o)		Fund is a business development company under the Investment Company Act of 1940.

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Investments in Affiliated Funds	$	2,013,816,862	$	45,247,627	$	–	$	2,059,064,489
Short-Term Investments
Repurchase Agreements		–		1,808,501		–		1,808,501
Total	$	2,013,816,862	$	47,056,128	$	–	$	2,060,872,990

⁽¹⁾		Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each investment in Affiliated Funds. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

	Multi-Asset Balanced Opportunity Fund		Multi-Asset Income Fund
ASSETS:
Investments in securities, at cost	$	1,808,501	$	331,683
Investments in Affiliated Funds, at cost		1,726,156,597		714,897,147
Investments in securities, at fair value	$	1,808,501	$	331,683
Investments in Affiliated Funds, at fair value		2,059,064,489		790,064,155
Cash		401,823		175,797
Foreign cash, at value (cost $36 and $0, respectively)		39		–
Receivables:
Interest and dividends		4,009,036		2,285,932
Capital shares sold		394,660		102,697
From advisor (See Note 4)		38,443		16,819
Investments in Affiliated Funds sold		–		282,711
Prepaid expenses and other assets		59,526		77,498
Total assets		2,065,776,517		793,337,292
LIABILITIES:
Payables:
Investments in Affiliated Funds purchased		3,523,409		2,073,595
Capital shares reacquired		1,653,602		943,790
Trustees' fees		321,115		139,933
12b-1 distribution plan		303,559		150,812
Management fee		173,523		66,744
Fund administration		69,409		26,698
Distributions payable		57,519		62,611
Accrued expenses		467,277		146,302
Total liabilities		6,569,413		3,610,485
Commitments and contingent liabilities		–		–
NET ASSETS	$	2,059,207,104	$	789,726,807
COMPOSITION OF NET ASSETS:
Paid-in capital	$	1,737,372,602	$	803,475,375
Total distributable earnings/(loss)		321,834,502		(13,748,568	)
Net Assets	$	2,059,207,104	$	789,726,807

	Multi-Asset Balanced Opportunity Fund		Multi-Asset Income Fund
Net Assets by class:
Class A Shares	$	1,866,114,481	$	648,011,328
Class C Shares	$	37,013,723	$	18,308,209
Class F Shares	$	6,446,995	$	12,203,503
Class F3 Shares	$	58,266	$	170,096
Class I Shares	$	75,222,775	$	95,605,551
Class P Shares	$	15	$	–
Class R2 Shares	$	1,041,156	$	48,650
Class R3 Shares	$	47,066,195	$	11,805,813
Class R4 Shares	$	13,525,890	$	2,193,053
Class R5 Shares	$	53,966	$	14,480
Class R6 Shares	$	12,663,642	$	1,366,124
Outstanding shares by class (unlimited number of authorized shares of beneficial interest):
Class A Shares		132,333,384		36,667,584
Class C Shares		2,647,248		1,013,310
Class F Shares		457,080		690,427
Class F3 Shares		4,101		9,644
Class I Shares		5,333,767		5,451,193
Class P Shares		1		–
Class R2 Shares		71,427		2,650
Class R3 Shares		3,345,390		667,832
Class R4 Shares		958,983		124,084
Class R5 Shares		3,816		825
Class R6 Shares		892,723		77,473
Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):*
Class A Shares-Net asset value		$14.10		$17.67
Class A Shares-Maximum offering price (Net asset value plus sales charge of 2.25% and 2.25%, respectively)		$14.42		$18.08
Class C Shares-Net asset value		$13.98		$18.07
Class F Shares-Net asset value		$14.10		$17.68
Class F3 Shares-Net asset value		$14.21		$17.64
Class I Shares-Net asset value		$14.10		$17.54
Class P Shares-Net asset value		$15.00		$ –
Class R2 Shares-Net asset value		$14.58		$18.36
Class R3 Shares-Net asset value		$14.07		$17.68
Class R4 Shares-Net asset value		$14.10		$17.67
Class R5 Shares-Net asset value		$14.14		$17.56
Class R6 Shares-Net asset value		$14.19		$17.63

	Multi-Asset Balanced Opportunity Fund			Multi-Asset Income Fund
Investment income:
Dividend income from Affiliated Funds (See Note 10)	$	29,549,675		$	15,077,572
Interest and other		82,942			19,466
Total investment income		29,632,617			15,097,038
Expenses:
Management fee		1,007,913			392,408
12b-1 distribution plan–Class A		2,284,105			802,859
12b-1 distribution plan–Class C		201,368			99,904
12b-1 distribution plan–Class F		3,246			6,115
12b-1 distribution plan–Class P		59			–
12b-1 distribution plan–Class R2		3,027			140
12b-1 distribution plan–Class R3		113,928			29,867
12b-1 distribution plan–Class R4		16,455			2,695
Shareholder servicing		739,702			270,082
Fund administration		403,165			156,963
Registration		98,170			84,401
Reports to shareholders		66,004			28,065
Trustees' fees		29,166			11,417
Professional		22,839			19,645
Custody		17,339			10,373
Other		16,370			10,817
Gross expenses		5,022,856			1,925,751
Fees waived and expenses reimbursed (See Note 4)		(230,203	)		(103,499	)
Net expenses		4,792,653			1,822,252
Net investment income		24,839,964			13,274,786
Net realized and unrealized gain/(loss):
Capital gain distributions received from Affiliated Funds		50,701,793			11,589,993
Net realized gain/(loss) on Investments in Affiliated Funds		18,419,477			(1,963,935	)
Net realized gain/(loss) on investments		–			39,255
Net realized gain/(loss) on futures contracts		(802,699	)		(337,395	)
Net realized gain/(loss) on foreign currency related transactions		–			(54	)
Net change in unrealized appreciation/(depreciation) on Investments in Affiliated Funds		16,681,934			8,393,952
Net change in unrealized appreciation/(depreciation) on futures contracts		(1,500,531	)		(388,315	)
Net change in unrealized appreciation/(depreciation) on translation of assets and liabilities denominated in foreign currencies		(1	)		30
Net realized and unrealized gain/(loss)		83,499,973			17,333,531
Net Increase in Net Assets Resulting From Operations	$	108,339,937		$	30,608,317

	Multi-Asset Balanced Opportunity Fund
INCREASE (DECREASE) IN NET ASSETS	For the Six Months Ended May 31, 2026 (unaudited)				For the Year Ended November 30, 2025
Operations:
Net investment income		$	24,839,964			$	45,491,182
Net realized gain/(loss)			68,318,571				55,727,488
Net change in unrealized appreciation/(depreciation)			15,181,402				69,488,017
Net increase in net assets resulting from operations			108,339,937				170,706,687
Distributions to Shareholders:
Class A			(22,811,071	)			(46,366,967	)
Class C			(346,972	)			(866,407	)
Class F			(85,671	)			(184,239	)
Class F3			(770	)			(1,486	)
Class I			(948,306	)			(1,906,128	)
Class P			(604	)			(3,078	)
Class R2			(10,454	)			(20,291	)
Class R3			(512,378	)			(1,034,554	)
Class R4			(163,854	)			(323,058	)
Class R5			(752	)			(2,104	)
Class R6			(173,672	)			(351,874	)
Total distribution to shareholders			(25,054,504	)			(51,060,186	)
Capital share transactions (See Note 12):
Net proceeds from sales of shares			90,013,791				142,298,049
Reinvestment of distributions			24,568,676				50,055,640
Cost of shares reacquired			(158,907,538	)			(325,426,765	)
Net decrease in net assets resulting from capital share transactions			(44,325,071	)			(133,073,076	)
Net increase (decrease) in net assets			38,960,362				(13,426,575	)
NET ASSETS:
Beginning of period		$	2,020,246,742			$	2,033,673,317
End of period		$	2,059,207,104			$	2,020,246,742

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net investment income (loss)^(b)		Net realized and unrealized gain/(loss)			Total from invest- ment opera- tions			Net investment income			Net realized gain			Total distri- butions
Class A
5/31/2026^(d)	$	13.54	$	0.17	$	0.43		$	0.60		$	(0.04	)	$	–		$	(0.04	)
11/30/2025		12.74		0.30		0.83			1.13			(0.33	)		–			(0.33	)
11/30/2024		10.55		0.29		2.17			2.46			(0.27	)		–			(0.27	)
11/30/2023		10.30		0.24		0.24			0.48			(0.23	)		–			(0.23	)
11/30/2022		14.01		0.19		(1.60	)		(1.41	)		(0.89	)		(1.41	)		(2.30	)
11/30/2021		13.15		0.22		1.42			1.64			(0.51	)		(0.27	)		(0.78	)
Class C
5/31/2026^(d)		13.42		0.12		0.47			0.59			(0.03	)		–			(0.03	)
11/30/2025		12.63		0.20		0.82			1.02			(0.23	)		–			(0.23	)
11/30/2024		10.46		0.20		2.15			2.35			(0.18	)		–			(0.18	)
11/30/2023		10.21		0.15		0.25			0.40			(0.15	)		–			(0.15	)
11/30/2022		13.90		0.11		(1.58	)		(1.47	)		(0.81	)		(1.41	)		(2.22	)
11/30/2021		13.06		0.11		1.41			1.52			(0.41	)		(0.27	)		(0.68	)
Class F
5/31/2026^(d)		13.54		0.18		0.42			0.60			(0.04	)		–			(0.04	)
11/30/2025		12.74		0.31		0.84			1.15			(0.35	)		–			(0.35	)
11/30/2024		10.55		0.31		2.17			2.48			(0.29	)		–			(0.29	)
11/30/2023		10.30		0.25		0.25			0.50			(0.25	)		–			(0.25	)
11/30/2022		14.01		0.21		(1.61	)		(1.40	)		(0.90	)		(1.41	)		(2.31	)
11/30/2021		13.15		0.24		1.42			1.66			(0.53	)		(0.27	)		(0.80	)
Class F3
5/31/2026^(d)		13.63		0.19		0.43			0.62			(0.04	)		–			(0.04	)
11/30/2025		12.82		0.34		0.83			1.17			(0.36	)		–			(0.36	)
11/30/2024		10.61		0.33		2.18			2.51			(0.30	)		–			(0.30	)
11/30/2023		10.35		0.27		0.25			0.52			(0.26	)		–			(0.26	)
11/30/2022		14.05		0.23		(1.60	)		(1.37	)		(0.92	)		(1.41	)		(2.33	)
11/30/2021		13.18		0.17		1.52			1.69			(0.55	)		(0.27	)		(0.82	)
Class I
5/31/2026^(d)		13.54		0.18		0.42			0.60			(0.04	)		–			(0.04	)
11/30/2025		12.74		0.33		0.83			1.16			(0.36	)		–			(0.36	)
11/30/2024		10.55		0.32		2.17			2.49			(0.30	)		–			(0.30	)
11/30/2023		10.30		0.26		0.25			0.51			(0.26	)		–			(0.26	)
11/30/2022		14.00		0.22		(1.60	)		(1.38	)		(0.91	)		(1.41	)		(2.32	)
11/30/2021		13.15		0.25		1.41			1.66			(0.54	)		(0.27	)		(0.81	)
Class P
5/31/2026^(d)		13.45		0.29		1.26			1.55			–			–			–
11/30/2025		12.66		0.27		0.83			1.10			(0.31	)		–			(0.31	)
11/30/2024		10.49		0.26		2.15			2.41			(0.24	)		–			(0.24	)
11/30/2023		10.24		0.21		0.25			0.46			(0.21	)		–			(0.21	)
11/30/2022		13.93		0.18		(1.60	)		(1.42	)		(0.86	)		(1.41	)		(2.27	)
11/30/2021		13.08		0.19		1.41			1.60			(0.48	)		(0.27	)		(0.75	)

					Ratios to Average Net Assets:^(a)									Supplemental Data:

Net asset value, end of period		Total return^(c) (%)			Total expenses after waivers and/or reim- bursements (%)			Total expenses (%)			Net investment income (loss) (%)			Net assets, end of period (000)			Portfolio turnover rate (%)

$	14.10		5.45	^(e)		0.47	^(f)		0.49	^(f)		2.47	^(f)	$	1,866,114			21	^(e)
	13.54		9.09			0.48			0.50			2.32			1,833,263			31
	12.74		23.58			0.50			0.50			2.49			1,840,606			31
	10.55		4.67			0.50			0.51			2.31			1,680,159			24
	10.30		(12.00	)		0.50			0.51			1.79			1,808,434			104
	14.01		12.89			0.49			0.49			1.56			2,293,947			47

	13.98		5.08	^(e)		1.22	^(f)		1.24	^(f)		1.74	^(f)		37,014			21	^(e)
	13.42		8.26			1.24			1.25			1.58			42,256			31
	12.63		22.66			1.25			1.25			1.74			54,274			31
	10.46		3.87			1.25			1.26			1.52			65,190			24
	10.21		(12.62	)		1.25			1.26			1.02			135,989			104
	13.90		12.01			1.24			1.24			0.78			223,713			47

	14.10		5.52	^(e)		0.32	^(f)		0.34	^(f)		2.63	^(f)		6,447			21	^(e)
	13.54		9.25			0.33			0.35			2.47			6,753			31
	12.74		23.76			0.35			0.35			2.64			7,380			31
	10.55		4.81			0.35			0.36			2.44			7,625			24
	10.30		(11.88	)		0.35			0.36			1.89			27,902			104
	14.01		13.06			0.34			0.34			1.73			84,162			47

	14.21		5.69	^(e)		0.15	^(f)		0.17	^(f)		2.78	^(f)		58			21	^(e)
	13.63		9.38			0.16			0.18			2.64			56			31
	12.82		23.94			0.17			0.17			2.82			53			31
	10.61		5.02			0.17			0.18			2.64			44			24
	10.35		(11.64	)		0.17			0.18			2.15			42			104
	14.05		13.25			0.17			0.17			1.18			58			47

	14.10		5.58	^(e)		0.22	^(f)		0.24	^(f)		2.70	^(f)		75,223			21	^(e)
	13.54		9.36			0.23			0.25			2.58			65,165			31
	12.74		23.88			0.25			0.25			2.74			59,908			31
	10.55		4.93			0.25			0.26			2.53			56,235			24
	10.30		(11.78	)		0.25			0.26			2.07			56,783			104
	14.00		13.26			0.24			0.24			1.81			41,327			47

	15.00		4.06	^(e)		0.67	^(f)		0.69	^(f)		4.36	^(f)		–	^(g)		21	^(e)
	13.45		8.86			0.68			0.70			2.11			148			31
	12.66		23.24			0.70			0.70			2.26			118			31
	10.49		4.49			0.70			0.71			2.07			350			24
	10.24		(12.17	)		0.70			0.71			1.63			340			104
	13.93		12.72			0.69			0.69			1.37			820			47

^(a)	Does not include expenses of the Affiliated Funds in which the Fund invests.
^(b)	Calculated using average shares outstanding during the period.
^(c)	Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.
^(d)	Unaudited.
^(e)	Not annualized.
^(f)	Annualized.
^(g)	Amount is less than $1,000.

			Per Share Operating Performance:
			Investment Operations:								Distributions to shareholders from:
	Net asset value, beginning of period		Net investment income (loss)^(b)		Net realized and unrealized gain/(loss)			Total from investment operations			Net investment income			Net asset value, end of period
Class A
5/31/2026^(d)	$	17.29	$	0.29	$	0.15		$	0.44		$	(0.06	)	$	17.67
11/30/2025		16.52		0.54		0.80			1.34			(0.57	)		17.29
11/30/2024		14.60		0.54		1.90			2.44			(0.52	)		16.52
11/30/2023		14.60		0.45		–	^(g)		0.45			(0.45	)		14.60
11/30/2022		17.39		0.35		(2.24	)		(1.89	)		(0.90	)		14.60
11/30/2021		16.47		0.32		1.21			1.53			(0.61	)		17.39
Class C
5/31/2026^(d)		17.67		0.23		0.22			0.45			(0.05	)		18.07
11/30/2025		16.86		0.43		0.82			1.25			(0.44	)		17.67
11/30/2024		14.89		0.43		1.94			2.37			(0.40	)		16.86
11/30/2023		14.87		0.35		–	^(g)		0.35			(0.33	)		14.89
11/30/2022		17.68		0.24		(2.27	)		(2.03	)		(0.78	)		14.87
11/30/2021		16.74		0.18		1.23			1.41			(0.47	)		17.68
Class F
5/31/2026^(d)		17.29		0.31		0.14			0.45			(0.06	)		17.68
11/30/2025		16.52		0.57		0.79			1.36			(0.59	)		17.29
11/30/2024		14.60		0.56		1.91			2.47			(0.55	)		16.52
11/30/2023		14.60		0.48		(0.01	)		0.47			(0.47	)		14.60
11/30/2022		17.39		0.37		(2.24	)		(1.87	)		(0.92	)		14.60
11/30/2021		16.47		0.34		1.22			1.56			(0.64	)		17.39
Class F3
5/31/2026^(d)		17.25		0.32		0.13			0.45			(0.06	)		17.64
11/30/2025		16.47		0.62		0.77			1.39			(0.61	)		17.25
11/30/2024		14.55		0.59		1.89			2.48			(0.56	)		16.47
11/30/2023		14.54		0.50		–	^(g)		0.50			(0.49	)		14.55
11/30/2022		17.32		0.41		(2.25	)		(1.84	)		(0.94	)		14.54
11/30/2021		16.40		0.37		1.21			1.58			(0.66	)		17.32
Class I
5/31/2026^(d)		17.16		0.31		0.13			0.44			(0.06	)		17.54
11/30/2025		16.40		0.58		0.79			1.37			(0.61	)		17.16
11/30/2024		14.50		0.58		1.88			2.46			(0.56	)		16.40
11/30/2023		14.50		0.48		0.01	^(h)		0.49			(0.49	)		14.50
11/30/2022		17.28		0.39		(2.23	)		(1.84	)		(0.94	)		14.50
11/30/2021		16.37		0.36		1.20			1.56			(0.65	)		17.28
Class R2
5/31/2026^(d)		17.95		0.27		0.19			0.46			(0.05	)		18.36
11/30/2025		17.08		0.53		0.81			1.34			(0.47	)		17.95
11/30/2024		15.09		0.50		1.96			2.46			(0.47	)		17.08
11/30/2023		15.06		0.42		0.01	^(h)		0.43			(0.40	)		15.09
11/30/2022		17.92		0.31		(2.32	)		(2.01	)		(0.85	)		15.06
11/30/2021		16.95		0.26		1.25			1.51			(0.54	)		17.92

Funds		Classes
Lord Abbett Multi-Asset Balanced Opportunity Fund (“Multi-Asset Balanced Opportunity Fund”)		A, C, F, F3, I, P, R2, R3, R4, R5 and R6
Lord Abbett Multi-Asset Income Fund (“Multi-Asset Income Fund”)		A, C, F, F3, I, R2, R3, R4, R5 and R6


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

	Investments in the Affiliated Funds, with the exception of the PCF, are valued at their NAV each business day at the close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time. Investments in the PCF are valued at its NAV each month end. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Swaps, options and options on swaps are valued daily using independent pricing services or quotations from broker/dealers to the extent available.

	Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may

	use related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.

	Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.

	Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below:


•	Level 1 –	unadjusted quoted prices in active markets for identical investments;

•	Level 2 –	other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and

•	Level 3 –	significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).


	A summary of inputs used in valuing each Fund’s investments as of May 31, 2026 and, if applicable, Level 3 rollforwards for the six months then ended is included in each Fund’s Schedule of Investments.

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

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

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

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

(d)	Income Taxes–It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.

	Management has reviewed each Fund’s tax positions for all open tax years and has determined that as of May 31, 2026, no liability for Federal Income tax is required in each Fund’s financial statements for net unrecognized tax benefits. However, management’s conclusions may be subject to future review based on changes in, or the interpretation of, the accounting standards or tax laws and regulations. Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. Each Fund’s Federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. The statutes of limitations on each Fund’s state and local tax returns may remain open for an additional year depending upon each Fund’s jurisdiction.

(e)	Investment Income–Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Interest income is recorded on an accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other, if applicable, in the Statements of Operations. Investment income is allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day.

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

	Because the Funds’ repurchase agreements are not subject to master netting arrangements, no offsetting disclosures have been presented for these transactions.

(g)	Restricted Securities–Each Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities, if applicable, is included at the end of each Fund’s Schedule of Investments.

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

	Futures Contracts–The Funds may enter into futures contracts to manage and hedge interest rate risk associated with portfolio investments. Futures contracts provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Funds are required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Funds periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as Net change in unrealized appreciation/(depreciation) on futures contracts on the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported on the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated on the Schedules of Investments, while cash deposited, which is considered restricted, is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities.

	The use of futures contracts exposes the Funds to equity price, foreign exchange and interest rate risks. The Funds may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Funds to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Funds to unlimited risk of loss. The Funds may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Funds’ credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of positions.

	The Funds’ futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

	Summary of Derivatives Information–The following tables present the effect of derivatives for each Fund on the Statements of Operations for the six months ended May 31, 2026:

	Multi-Asset Balanced Opportunity Fund
	Statements of Operations Location	Equity Risk
Amount of Realized Gain/(Loss) on Derivatives
Futures Contracts	Net realized gain/(loss) on futures contracts	$	(802,699	)
Amount of Net Change in Unrealized Appreciation/(Depreciation) on Derivatives
Futures Contracts	Net change in unrealized appreciation/(depreciation) on futures contracts	$	(1,500,531	)
Average derivatives volume calculated based on the number of contracts or notional amounts
Futures Contracts			203

Fund		Net Effective Management Fee
Multi-Asset Balanced Opportunity Fund		.08%
Multi-Asset Income Fund		.08%

		Amount
Multi-Asset Balanced Opportunity Fund		$17,344
Multi-Asset Income Fund		10,373

Fees*	Class A	Class C	Class F⁽¹⁾	Class P⁽²⁾	Class R2	Class R3	Class R4
Service	.25%	.25%	–	.25%	.25%	.25%	.25%
Distribution	–	.75%	.10%	.20%	.35%	.25%	–


*	The Funds may designate a portion of the aggregate fees attributable to service activities for purposes of calculating Financial Industry Regulatory Authority, Inc. sales charge limitations.
⁽¹⁾	The Class F shares Rule 12b-1 fee may be designated as a service fee in limited circumstances as described in the Funds’ prospectus.
⁽²⁾	Applicable to Multi-Asset Balanced Opportunity Fund only.

	Distributor Commissions	Dealers’ Concessions
Multi-Asset Balanced Opportunity Fund	$44,757	$596,542
Multi-Asset Income Fund	12,761	146,521

Fund	Ordinary Income		Net Long-Term Capital Gains		Return of Capital		Total Distributions Paid
Multi-Asset Balanced Opportunity Fund	$	25,054,504	$	–	$	–	$	25,054,504
Multi-Asset Income Fund		13,428,015		–		–		13,428,015

Fund	Short-Term Losses			Long-Term Losses			Net Capital Losses
Multi-Asset Balanced Opportunity Fund	$	(50,254,719	)	$	–		$	(50,254,719	)
Multi-Asset Income Fund		(42,739,313	)		(35,370,762	)		(78,110,075	)