Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the
applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not
include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in
financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For
a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund’s investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/
Trustees. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an
independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which 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. 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 management’s 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 following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit
spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of
investments).
The following table summarizes the market value of the Fund's investments, and the fair value of certain other assets and liabilities, when applica-
ble, as of the end of the reporting period, based on the inputs used to value them:
SHARES
DESCRIPTION
RATE
VALUE
INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING - 0.0%
18,620
State Street Navigator Securities Lending Government Money
Market Portfolio
3.680%(e)
$
18,620
TOTAL INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING
(Cost $18,620)
18,620
TOTAL INVESTMENTS - 99.6%
(Cost $541,537,370)
$
705,185,139
OTHER ASSETS & LIABILITIES, NET - 0.4%
2,717,190
NET ASSETS - 100%
$
707,902,329
REIT
Real Estate Investment Trust
(a)
Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid
and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
As of the end of the reporting period, the aggregate value of these securities is $8,836,977 or 1.3% of Total Investments.
(b)
Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.
(c)
For fair value measurement disclosure purposes, investment classified as Level 3.
(d)
Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end
of the reporting period was $17,425.
(e)
The rate shown is the one-day yield as of the end of the reporting period.
NUDM
Level 1
Level 2
Level 3
Total
Long-Term Investments:
Common Stocks
$
705,166,519
$
–
$
–
*
$
705,166,519
Investments Purchased with Collateral from Securities
Lending
18,620
–
–
18,620
$
705,185,139
$
–
$
–
$
705,185,139
a
*
Value equals zero as of the end of the reporting period.