NUVEEN INVESTMENT TRUST II (0001041673) (Filer)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Nuveen Investment Trust II

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Mark J. Czarniecki

Vice President and Secretary

901 Marquette Avenue

Minneapolis, Minnesota 55402

(Name and address of agent for service)

Registrant’s telephone number, including area code: (312) 917-7700

Date of fiscal year end: July 31

Date of reporting period: July 31, 2026

		Annual Shareholder Report  July 31, 2026

Nuveen Dividend Growth Fund

Class A Shares/NSBAX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Dividend Growth Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

67065W662_AR_0726 5824559

		Annual Shareholder Report  July 31, 2026

Nuveen Dividend Growth Fund

Class C Shares/NSBCX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Dividend Growth Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available

by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

67065W647_AR_0726 5824559

		Annual Shareholder Report  July 31, 2026

Nuveen Dividend Growth Fund

Class R6 Shares/NSBFX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Dividend Growth Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

670725365_AR_0726 5824559

		Annual Shareholder Report   July 31, 2026

Nuveen Dividend Growth Fund

Class I Shares/NSBRX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Dividend Growth Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available

by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

67065W639_AR_0726 5824559

		Annual Shareholder Report  July 31, 2026

Nuveen Dividend Growth Fund

ETF Class Shares/NUDG

Annual Shareholder Report

This annual shareholder report contains important information about the ETF Class Shares of the Nuveen Dividend Growth Fund for the period of June 2, 2026 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/exchange‑traded‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the period since inception? (based on a hypothetical $10,000 investment)

How did the Fund perform since inception? What affected the Fund’s performance?

How did the Fund perform over the period since inception?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (June 2, 2026 through July 31, 2026) Initial Investment of $10,000

Cumulative Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en-us/exchange-traded-funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/exchange‑traded‑funds/prospectuses or upon request at (800) 257‑8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/exchange‑traded‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

670713635_AR_0726 5824559

		Annual Shareholder Report  July 31, 2026

Nuveen Global Dividend Growth Fund

Class A Shares/NUGAX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Global Dividend Growth Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

* Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

 • prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

		Annual Shareholder Report  July 31, 2026

Nuveen Global Dividend Growth Fund

Class C Shares/NUGCX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Global Dividend Growth Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

* Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

 • prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

		Annual Shareholder Report  July 31, 2026

Nuveen Global Dividend Growth Fund

Class I Shares/NUGIX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Global Dividend Growth Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

Portfolio manager update(s): Effective April 30, 2026, Charles Carr was added as a portfolio manager of the Fund.

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

670725449_AR_0726 5824564

		Annual Shareholder Report  July 31, 2026

Nuveen Winslow Large‑Cap Growth ESG Fund

Class A Shares/NWCAX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Winslow Large‑Cap Growth ESG Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

670725688_AR_0726 5824573

		Annual Shareholder Report  July 31, 2026

Nuveen Winslow Large‑Cap Growth ESG Fund

Class C Shares/NWCCX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Winslow Large‑Cap Growth ESG Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257-8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

670725670_AR_0726 5824573

		Annual Shareholder Report  July 31, 2026

Nuveen Winslow Large‑Cap Growth ESG Fund

Class R6 Shares/NWCFX

Annual Shareholder Report

This annual shareholder report contains important information about the Class R6 Shares of the Nuveen Winslow Large‑Cap Growth ESG Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257‑8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

670725373_AR_0726 5824573

		Annual Shareholder Report  July 31, 2026

Nuveen Winslow Large‑Cap Growth ESG Fund

Class I Shares/NVLIX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Winslow Large‑Cap Growth ESG Fund for the period of August 1, 2025 to July 31, 2026. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257‑8787.

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

How did the Fund perform last year? What affected the Fund’s performance?

How did the Fund perform over the last 10 years?

Performance data shown represents past performance and does not predict or guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

Fund Performance (August 1, 2016 through July 31, 2026) Initial Investment of $10,000

Average Annual Total Returns

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month‑end performance, go to https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or call (800) 257‑8787.

Fund Statistics (as of July 31, 2026)

What did the Fund invest in? (as of July 31, 2026)

How has the Fund changed?

For more complete information, you may review the Fund’s next prospectus, which is expected to be available by November 30, 2026 at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses or upon request at (800) 257‑8787.

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en‑us/mutual‑funds/prospectuses, including its:

• prospectus • financial statements and other information • fund holdings • proxy voting information

You can also request this information at (800) 257‑8787.

670725662_AR_0726 5824573

As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. Upon request, a copy of the registrant’s code of ethics is available without charge by calling 800-257-8787.

As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) had determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The members of the registrant’s audit committee that have been designated as audit committee financial experts are Joseph A. Boateng, John K. Nelson and Loren M. Starr, who are “independent” for purposes of Item 3 of Form N-CSR.

Mr. Boateng has served as the Chief Investment Officer for Casey Family Programs since 2007. He was previously Director of U.S. Pension Plans for Johnson & Johnson from 2002-2006. Mr. Boateng is a board member of the Lumina Foundation and Waterside School, an emeritus board member of Year Up Puget Sound, member of the Investment Advisory Committee and former Chair for the Seattle City Employees’ Retirement System, and an Investment Committee Member for The Seattle Foundation. Mr. Boateng previously served on the Board of Trustees for the College Retirement Equities Fund (2018-2023) and on the Management Committee for TIAA Separate Account VA-1 (2019-2023).

Mr. Nelson formerly served on the Board of Directors of Core12, LLC from 2008 to 2023, a private firm which develops branding, marketing, and communications strategies for clients. Mr. Nelson has extensive experience in global banking and markets, having served in several senior executive positions with ABN AMRO Holdings N.V. and its affiliated entities and predecessors, including LaSalle Bank Corporation from 1996 to 2008, ultimately serving as Chief Executive Officer of ABN AMRO N.V. North America. During his tenure at the bank, he also served as Global Head of its Financial Markets Division, which encompassed the bank’s Currency, Commodity, Fixed Income, Emerging Markets, and Derivatives businesses. He was a member of the Foreign Exchange Committee of the Federal Reserve Bank of the United States and during his tenure with ABN AMRO served as the bank’s representative on various committees of The Bank of Canada, European Central Bank, and The Bank of England. Mr. Nelson previously served as a senior, external advisor to the financial services practice of Deloitte Consulting LLP. (2012-2014).

Mr. Starr was Vice Chair, Senior Managing Director from 2020 to 2021, and Chief Financial Officer, Senior Managing Director from 2005 to 2020, for Invesco Ltd. Mr. Starr is also a Director and Chair of the Board for AMG. He is former Chair and member of the Board of Directors, Georgia Leadership Institute for School Improvement (GLISI); former Chair and member of the Board of Trustees, Georgia Council on Economic Education (GCEE). Mr. Starr previously served on the Board of Trustees for the College Retirement Equities Fund and on the Management Committee for TIAA Separate Account VA-1 (2022-2023).

Nuveen Investment Trust II

The following tables show the amount of fees that PricewaterhouseCoopers LLP (“PwC”), the independent registered public accounting firm, billed to the Registrant during the Registrant’s last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PwC provided to the Registrant, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the “pre-approval exception”). The pre-approval exception for services provided directly to the Registrant waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Registrant during the fiscal year in which the services are provided; (B) the Registrant did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the audit is completed.

The Audit Committee has delegated certain pre-approval responsibilities to its Chair.

SERVICES THAT THE REGISTRANT’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM BILLED TO THE REGISTRANT

SERVICES THAT THE REGISTRANT’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM BILLED TO THE ADVISER AND AFFILIATED REGISTRANT SERVICE PROVIDERS

The following tables show the amount of fees billed by PwC to Nuveen Fund Advisors, LLC (the “Adviser”), and any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Registrant (“Affiliated Fund Service Provider”), for engagements directly related to the Registrant’s operations and financial reporting, during the Registrant’s last two full fiscal years.

The tables also show the percentage of fees subject to the pre-approval exception. The pre-approval exception for services provided to the Adviser and any Affiliated Fund Service Provider (other than audit, review or attest services) waives the pre-approval requirement if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Registrant, the Adviser and Affiliated Fund Service Providers during the fiscal year in which the services are provided that would have to be pre-approved by the Audit Committee; (B) the Registrant did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the Registrant’s audit is completed.

NON-AUDIT SERVICES

The following table shows the amount of fees that PwC billed during the Registrant’s last two full fiscal years for non-audit services. The Audit Committee is required to pre-approve non-audit services that the Registrant’s independent registered public accounting firm provides to the Adviser and any Affiliated Fund Service Provider, if the engagement related directly to the Registrant’s operations and financial reporting (except for those subject to the pre-approval exception described above). The Audit Committee requested and received information from PwC about any non-audit services rendered during the Registrant’s last fiscal year to the Adviser and any Affiliated Fund Service Provider. The Committee considered this information in evaluating PwC’s independence.

“Non-Audit Fees billed to Registrant” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to the Registrant in their respective amounts from the previous table.

Less than 50 percent of the hours expended on the independent registered public accounting firm’s engagement to audit the Registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the independent registered public accounting firm’s full-time, permanent employees.

Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Registrant by the Registrant’s independent registered public accounting firm and (ii) all audit and non-audit services to be performed by the Registrant’s independent registered public accounting firm for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Registrant.

Item 4(i) and Item 4(j) are not applicable to the Registrant.

Not applicable to this registrant.

Report of Independent Registered

Public Accounting Firm

1

To the Board of Trustees of Nuveen Investment Trust II and Shareholders of Nuveen Dividend

Growth Fund, Nuveen Global Dividend Growth Fund and Nuveen Winslow Large-Cap Growth

ESG Fund

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of

Nuveen Dividend Growth Fund, Nuveen Global Dividend Growth Fund and Nuveen Winslow Large-Cap Growth ESG

Fund (three of the funds constituting Nuveen Investment Trust II, hereafter collectively referred to as the "Funds") as

of July 31, 2026, the related statements of operations for the year ended July 31, 2026, the statements of changes in

net assets for each of the two years in the period ended July 31, 2026, including the related notes, and the financial

highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our

opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of

July 31, 2026, the results of each of their operations for the year then ended, the changes in each of their net assets

for each of the two years in the period ended July 31, 2026 and each of the financial highlights for each of the periods

indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion

on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public

Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to

the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities

and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those

standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial

statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements,

whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included

examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits

also included evaluating the accounting principles used and significant estimates made by management, as well as

evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities

owned as of July 31, 2026 by correspondence with the custodian, issuers and brokers; when replies were not received

from issuers or brokers, we performed other auditing procedures. We believe that our audits provide a reasonable

basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Chicago, Illinois

September 25, 2026

We have served as the auditor of one or more investment companies in Nuveen Funds since 2002.

2

Portfolio of Investments July 31, 2026

Dividend Growth

See Notes to Financial Statements

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 98.6%

6220418344

COMMON STOCKS - 98.6%

6220418344

BANKS - 4.0%

712,366

JPMorgan Chase & Co

$

250,603,235

TOTAL BANKS

250,603,235

CAPITAL GOODS - 8.0%

354,786

Eaton Corp plc

147,307,147

316,123

(a)

Honeywell Aerospace, Inc

65,355,269

316,123

Honeywell International, Inc

76,833,695

167,317

Northrop Grumman Corp

90,766,126

274,109

Trane Technologies plc

124,705,890

TOTAL CAPITAL GOODS

504,968,127

CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL - 3.4%

374,233

Lowe's Cos, Inc

77,769,360

853,465

TJX Cos, Inc

134,284,183

TOTAL CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL

212,053,543

CONSUMER SERVICES - 5.4%

611,981

Booking Holdings, Inc

118,051,135

394,713

McDonald's Corp

106,825,126

1,117,080

Starbucks Corp

117,572,670

TOTAL CONSUMER SERVICES

342,448,931

CONSUMER STAPLES DISTRIBUTION & RETAIL - 1.9%

1,079,419

Walmart, Inc

120,031,393

TOTAL CONSUMER STAPLES DISTRIBUTION & RETAIL

120,031,393

ENERGY - 3.5%

506,757

Chevron Corp

99,744,981

787,039

ExxonMobil Holdings Corp

122,337,342

TOTAL ENERGY

222,082,323

EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS) - 2.3%

1,000,283

ProLogis, Inc

144,650,925

TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)

144,650,925

FINANCIAL SERVICES - 8.2%

480,306

American Express Co

161,502,893

86,591

BlackRock, Inc

94,417,960

301,160

Mastercard, Inc, Class A

172,594,796

968,146

NASDAQ, Inc

91,189,672

TOTAL FINANCIAL SERVICES

519,705,321

FOOD, BEVERAGE & TOBACCO - 4.2%

1,123,812

Mondelez International, Inc, Class A

70,024,725

447,621

PepsiCo, Inc

62,469,987

686,556

Philip Morris International, Inc

131,008,616

TOTAL FOOD, BEVERAGE & TOBACCO

263,503,328

HEALTH CARE EQUIPMENT & SERVICES - 3.1%

891,246

Abbott Laboratories

94,204,702

272,234

Elevance Health, Inc

102,316,427

TOTAL HEALTH CARE EQUIPMENT & SERVICES

196,521,129

INSURANCE - 1.6%

536,703

Marsh & McLennan Cos, Inc

101,807,192

TOTAL INSURANCE

101,807,192

MATERIALS - 3.4%

250,950

Linde plc

120,049,461

2,097,358

Smurfit Westrock plc

96,415,547

TOTAL MATERIALS

216,465,008

MEDIA & ENTERTAINMENT - 5.2%

691,911

Alphabet, Inc, Class C

246,770,058

143,136

Meta Platforms, Inc

79,685,243

TOTAL MEDIA & ENTERTAINMENT

326,455,301

3

See Notes to Financial Statements

SHARES

DESCRIPTION

VALUE

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.8%

538,747

AbbVie, Inc

$

135,193,172

515,885

Danaher Corp

100,587,257

993,564

Merck & Co, Inc

129,362,033

TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES

365,142,462

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 11.6%

320,021

Analog Devices, Inc

117,578,915

870,221

Broadcom, Inc

338,759,631

679,043

Taiwan Semiconductor Manufacturing Co Ltd, Sponsored ADR

274,503,133

TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT

730,841,679

SOFTWARE & SERVICES - 7.0%

954,603

Microsoft Corp

443,623,105

TOTAL SOFTWARE & SERVICES

443,623,105

TECHNOLOGY HARDWARE & EQUIPMENT - 12.1%

1,523,998

Amphenol Corp, Class A

244,906,479

1,268,091

Apple, Inc

391,725,991

287,368

Motorola Solutions, Inc

125,220,606

TOTAL TECHNOLOGY HARDWARE & EQUIPMENT

761,853,076

TELECOMMUNICATION SERVICES - 1.8%

659,697

T-Mobile US, Inc

113,936,269

TOTAL TELECOMMUNICATION SERVICES

113,936,269

TRANSPORTATION - 1.7%

371,254

Union Pacific Corp

108,454,431

TOTAL TRANSPORTATION

108,454,431

UTILITIES - 4.4%

1,861,426

NextEra Energy, Inc

161,795,148

1,037,072

WEC Energy Group, Inc

113,476,418

TOTAL UTILITIES

275,271,566

TOTAL COMMON STOCKS

(Cost $3,081,027,074)

6,220,418,344

TOTAL LONG-TERM INVESTMENTS

(Cost $3,081,027,074)

6,220,418,344

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS -  1.4%

89131263

REPURCHASE AGREEMENTS - 1.4%

89131263

$

2,681,263

(b)

Fixed Income Clearing Corporation

1

.060

%

08/03/26

2,681,263

86,450,000

(c)

Fixed Income Clearing Corporation

3

.570

08/03/26

86,450,000

TOTAL REPURCHASE AGREEMENTS

(Cost $89,131,263)

89,131,263

TOTAL SHORT-TERM INVESTMENTS

(Cost $89,131,263)

89,131,263

TOTAL INVESTMENTS - 100.0%

(Cost $3,170,158,337)

6,309,549,607

OTHER ASSETS & LIABILITIES, NET -  0.0%

2,380,351

NET ASSETS - 100%

$

6,311,929,958

ADR

American Depositary Receipt

(a)

Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(b)

Agreement with Fixed Income Clearing Corporation, 1.060% dated 7/31/26 to be repurchased at $2,681,500 on 8/3/26,

collateralized by Government Agency Securities, with coupon rate 4.000% and maturity date 2/28/30, valued at $2,734,930.

(c)

Agreement with Fixed Income Clearing Corporation, 3.570% dated 7/31/26 to be repurchased at $86,475,719 on 8/3/26,

collateralized by Government Agency Securities, with coupon rate 4.000% and maturity date 2/15/34, valued at $88,179,018.

4

Portfolio of Investments July 31, 2026

Global Dividend Growth

See Notes to Financial Statements

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 98.9%   

16702006

COMMON STOCKS - 98.9%

CANADA - 3.6%

5,108

Enbridge, Inc

$

277,946

1,615

Royal Bank of Canada

338,023

TOTAL CANADA

615,969

FRANCE - 8.8%

4,238

Accor S.A.

220,401

7,326

AXA S.A.

379,704

384

LVMH Moet Hennessy Louis Vuitton SE

210,868

3,505

TotalEnergies SE

309,002

9,408

Veolia Environnement S.A.

374,376

TOTAL FRANCE

1,494,351

GERMANY - 2.0%

1,865

SAP SE

341,846

TOTAL GERMANY

341,846

HONG KONG - 0.7%

66,487

HKT Trust & HKT Ltd

112,552

TOTAL HONG KONG

112,552

JAPAN - 6.0%

33,625

ITOCHU Corp

421,981

9,800

KDDI Corp

180,552

10,000

ORIX Corp

403,593

TOTAL JAPAN

1,006,126

NETHERLANDS - 3.8%

395

ASML Holding NV

650,938

TOTAL NETHERLANDS

650,938

SWITZERLAND - 1.1%

1,813

Nestle S.A.

181,211

TOTAL SWITZERLAND

181,211

TAIWAN - 4.0%

1,668

Taiwan Semiconductor Manufacturing Co Ltd, Sponsored ADR

674,289

TOTAL TAIWAN

674,289

UNITED KINGDOM - 3.6%

13,116

Compass Group plc

416,510

2,972

Unilever plc

189,101

TOTAL UNITED KINGDOM

605,611

UNITED STATES - 65.3%

2,294

Abbott Laboratories

242,476

1,517

AbbVie, Inc

380,676

1,349

American Express Co

453,601

2,191

Amphenol Corp, Class A

352,094

3,334

Apple, Inc

1,029,906

1,826

Booking Holdings, Inc

352,235

1,919

Broadcom, Inc

747,028

864

Eaton Corp plc

358,733

3,182

Experian plc

120,056

2,343

ExxonMobil Holdings Corp

364,196

41,756

Haleon plc

204,419

713

(a)

Honeywell Aerospace, Inc

147,406

713

Honeywell International, Inc

173,295

2,135

JPMorgan Chase & Co

751,072

500

Linde plc

239,190

655

Mastercard, Inc, Class A

375,381

814

McDonald's Corp

220,301

2,850

Merck & Co, Inc

371,070

1,839

Microsoft Corp

854,620

775

Motorola Solutions, Inc

337,706

2,527

NASDAQ, Inc

238,018

4,575

NextEra Energy, Inc

397,659

5

See Notes to Financial Statements

SHARES

DESCRIPTION

VALUE

UNITED STATES

(continued)

476

Northrop Grumman Corp

$

258,220

1,334

PepsiCo, Inc

186,173

1,896

Philip Morris International, Inc

361,795

2,317

ProLogis, Inc

335,061

2,803

Sanofi S.A.

241,371

5,418

Smurfit Westrock plc

249,065

2,529

Starbucks Corp

266,177

1,084

T-Mobile US, Inc

187,218

763

Union Pacific Corp

222,895

TOTAL UNITED STATES

11,019,113

TOTAL COMMON STOCKS

(Cost $8,768,352)

16,702,006

TOTAL LONG-TERM INVESTMENTS

(Cost $8,768,352)

16,702,006

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS -  1.3%  

225,000

REPURCHASE AGREEMENTS - 1.3%

$

225,000

(b)

Fixed Income Clearing Corporation

3

.570

%

08/03/26

225,000

TOTAL REPURCHASE AGREEMENTS

(Cost $225,000)

225,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $225,000)

225,000

TOTAL INVESTMENTS (Cost $8,993,352) - 100.2%

16,927,006

OTHER ASSETS & LIABILITIES, NET -  (0.2)%

(

32,397

)

NET ASSETS - 100%

$

16,894,609

ADR

American Depositary Receipt

(a)

Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(b)

Agreement with Fixed Income Clearing Corporation, 3.570% dated 7/31/26 to be repurchased at $225,067 on 8/3/26,

collateralized by Government Agency Securities, with coupon rate 4.250% and maturity date 5/15/35, valued at $229,513.

Summary of investments by industry group

(% of net assets)

Semiconductors & Semiconductor Equipment

12

.3

%

Technology Hardware & Equipment

10

.2

Consumer Services

8

.7

Financial Services

8

.7

Capital Goods

8

.1

Pharmaceuticals, Biotechnology & Life Sciences

7

.1

Software & Services

7

.1

Banks

6

.4

Energy

5

.6

Utilities

4

.6

Food, Beverage & Tobacco

4

.3

Other

15.8

Total

98.9%

6

Portfolio of Investments July 31, 2026

Winslow Large-Cap Growth ESG

See Notes to Financial Statements

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 99.5%

906527651

COMMON STOCKS - 97.2%

906527651

AUTOMOBILES & COMPONENTS - 0.9%

28,610

(a)

Tesla, Inc

$

8,903,718

TOTAL AUTOMOBILES & COMPONENTS

8,903,718

CAPITAL GOODS - 12.3%

20,700

(a)

Axon Enterprise, Inc

10,924,632

12,950

Caterpillar, Inc

10,551,789

12,250

GE Vernova, Inc

12,131,052

62,340

General Electric Co

22,446,764

49,190

Howmet Aerospace, Inc

13,884,369

99,600

Johnson Controls International plc

14,607,336

10,250

Parker-Hannifin Corp

10,009,433

18,600

Quanta Services, Inc

12,412,896

21,900

Woodward, Inc

7,900,425

TOTAL CAPITAL GOODS

114,868,696

CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL - 3.7%

126,960

(a)

Amazon.com, Inc

34,479,797

TOTAL CONSUMER DISCRETIONARY DISTRIBUTION & RETAIL

34,479,797

CONSUMER SERVICES - 2.4%

68,700

Hilton Worldwide Holdings, Inc

22,017,663

TOTAL CONSUMER SERVICES

22,017,663

FINANCIAL SERVICES - 9.6%

183,200

(a)

Affirm Holdings, Inc

13,100,632

95,500

KKR & Co, Inc

9,686,565

16,816

Mastercard, Inc, Class A

9,637,249

48,300

Morgan Stanley

10,163,286

155,900

NASDAQ, Inc

14,684,221

89,160

Visa, Inc, Class A

32,644,151

TOTAL FINANCIAL SERVICES

89,916,104

HEALTH CARE EQUIPMENT & SERVICES - 1.4%

15,650

McKesson Corp

13,399,374

TOTAL HEALTH CARE EQUIPMENT & SERVICES

13,399,374

MATERIALS - 1.2%

39,990

Ecolab, Inc

11,102,424

TOTAL MATERIALS

11,102,424

MEDIA & ENTERTAINMENT - 13.3%

303,240

Alphabet, Inc, Class C

108,150,546

28,900

Meta Platforms, Inc

16,088,919

TOTAL MEDIA & ENTERTAINMENT

124,239,465

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.7%

526,900

(a)

Elanco Animal Health, Inc

13,894,353

25,935

Eli Lilly & Co

29,795,165

24,200

(a)

Waters Corp

9,130,902

TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES

52,820,420

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 25.5%

63,790

(a)

Advanced Micro Devices, Inc

30,373,609

34,310

Analog Devices, Inc

12,605,837

9,250

ASML Holding NV

15,068,250

146,215

Broadcom, Inc

56,918,575

17,500

Micron Technology, Inc

14,403,025

538,560

NVIDIA Corp

108,115,920

TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT

237,485,216

SOFTWARE & SERVICES - 8.4%

59,800

(a)

Datadog, Inc, Class A

16,024,606

111,552

Microsoft Corp

51,840,445

84,260

(a)

Shopify, Inc, Class A

9,871,059

TOTAL SOFTWARE & SERVICES

77,736,110

7

See Notes to Financial Statements

SHARES

DESCRIPTION

VALUE

TECHNOLOGY HARDWARE & EQUIPMENT - 12.8%

146,860

Apple, Inc

$

45,366,523

141,800

(a)

Arista Networks, Inc

25,573,630

20,600

(a)

Lumentum Holdings, Inc

14,707,164

22,300

Seagate Technology Holdings plc

19,091,699

27,200

Western Digital Corp

14,819,648

TOTAL TECHNOLOGY HARDWARE & EQUIPMENT

119,558,664

TOTAL COMMON STOCKS

(Cost $570,501,522)

906,527,651

SHARES

DESCRIPTION

ACQUIRED

DATE

VALUE

6880995

COMMON STOCKS IN PRIVATE COMPANIES - 0.8%

6880995

SOFTWARE & SERVICES - 0.2%

1,827

(a),(b),(c),(d)

OpenAI Foundation (Acquired cost $785,610), Class A

10/28/25

1,256,404

TOTAL SOFTWARE & SERVICES

1,256,404

TECHNOLOGY HARDWARE & EQUIPMENT - 0.6%

8,179

(a),(b),(c),(d)

OpenAI (Acquired cost $5,624,591), Class C

04/15/26

5,624,591

TOTAL TECHNOLOGY HARDWARE & EQUIPMENT

5,624,591

TOTAL COMMON STOCKS IN PRIVATE COMPANIES

(Cost $6,410,200)

6,880,995

SHARES

DESCRIPTION

ACQUIRED

DATE

VALUE

14314499

PREFERRED STOCKS IN PRIVATE COMPANIES - 1.5%

14314499

BANKS - 0.4%

14,019

(a),(b),(c),(d)

DATABRICKS, Inc (Acquired cost $2,663,610)

12/16/25

3,546,807

TOTAL BANKS

3,546,807

SOFTWARE & SERVICES - 1.1%

9,363

(a),(b),(c),(d)

Anthropic PBC (Acquired cost $1,319,880)

01/27/26

5,514,901

8,918

(a),(b),(c),(d)

Anthropic PBC (Acquired cost $2,310,978), Class G

08/29/25

5,252,791

TOTAL SOFTWARE & SERVICES

10,767,692

TOTAL PREFERRED STOCKS IN PRIVATE COMPANIES

(Cost $6,294,468)

14,314,499

TOTAL LONG-TERM INVESTMENTS

(Cost $583,206,190)

927,723,145

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS -  1.4%

13,500,000

REPURCHASE AGREEMENTS - 1.4%

13,500,000

$

13,500,000

(e)

Fixed Income Clearing Corporation

3.570

%

08/03/26

13,500,000

TOTAL REPURCHASE AGREEMENTS

(Cost $13,500,000)

13,500,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $13,500,000)

13,500,000

TOTAL INVESTMENTS - 100.9%

(Cost $596,706,190)

941,223,145

OTHER ASSETS & LIABILITIES, NET -  (0.9)%

(8,509,721)

NET ASSETS - 100%

$

932,713,424

(a)

Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(b)

For fair value measurement disclosure purposes, investment classified as Level 3.

(c)

Private equity investment.

(d)

Restricted security; security may not be publicly sold without registration under the Securities Act of 1933, as amended. As of the

end of the fiscal period, the aggregate value of these securities is $21,195,494 or 2.3% of Total Investments.

(e)

Agreement with Fixed Income Clearing Corporation, 3.570% dated 7/31/26 to be repurchased at $13,504,016 on 8/3/26,

collateralized by Government Agency Securities, with coupon rate 4.000% and maturity date 2/15/34, valued at $13,770,065.

Statement of Assets and Liabilities

See Notes to Financial Statements

8

July 31, 2026

Dividend

Growth

Global Dividend

Growth

Winslow Large-

Cap Growth ESG

ASSETS

Long-term investments, at value

†

$

6,220,418,344‌

$

16,702,006‌

$

927,723,145‌

Short-term investments, at value

◊

89,131,263‌

225,000‌

13,500,000‌

Cash

–‌

19,071‌

–‌

Receivables:

Dividends

3,275,743‌

8,446‌

109,483‌

Interest

8,652‌

22‌

1,339‌

Investments sold

32,655,319‌

–‌

3,679,740‌

Reclaims

176,350‌

4,303‌

–‌

Reimbursement from Adviser

64,638‌

12,681‌

95,520‌

Shares sold

570,823‌

238‌

404,896‌

Other

358,977‌

29,292‌

116,050‌

Total assets

6,346,660,109‌

17,001,059‌

945,630,173‌

LIABILITIES

Cash overdraft

–‌

–‌

4,029,064‌

Payables:

Management fees

3,156,611‌

10,024‌

511,049‌

Collateral from securities lending

–‌

–‌

1,491‌

Interest

391‌

1‌

52‌

Investments purchased - regular settlement

–‌

–‌

7,501,483‌

Shares redeemed

29,783,866‌

19,857‌

433,059‌

Accrued expenses:

Custodian fees

501,038‌

40,771‌

112,793‌

Trustees fees

367,147‌

643‌

80,198‌

Professional fees

42,685‌

19,563‌

29,673‌

Shareholder reporting expenses

54,243‌

9,631‌

25,819‌

Shareholder servicing agent fees

480,211‌

3,631‌

145,329‌

12b-1 distribution and service fees

343,851‌

2,157‌

46,282‌

Other

108‌

172‌

457‌

Total liabilities

34,730,151‌

106,450‌

12,916,749‌

Net assets

$

6,311,929,958‌

$

16,894,609‌

$

932,713,424‌

NET ASSETS CONSIST OF:

Paid-in capital

$

2,957,376,011‌

$

7,576,222‌

$

537,008,341‌

Total distributable earnings (loss)

3,354,553,947‌

9,318,387‌

395,705,083‌

Net assets

$

6,311,929,958‌

$

16,894,609‌

$

932,713,424‌

†

   Long-term investments, cost

$

3,081,027,074‌

$

8,768,352‌

$

583,206,190‌

◊

   Short-term investments, cost

$

89,131,263‌

$

225,000‌

$

13,500,000‌

Statement of Assets and Liabilities

(continued)

See Notes to Financial Statements

9

Dividend

Growth

Global Dividend

Growth

Winslow Large-

Cap Growth ESG

CLASS A:

Net assets

$

1,155,727,307‌

$

9,510,105‌

$

177,472,173‌

Shares outstanding

18,326,668‌

259,185‌

3,366,048‌

Net asset value ("NAV") per share

$

63.06‌

$

36.69‌

$

52.72‌

Maximum sales charge

5.75%

5.75%

5.75%

Offering price per share (NAV per share plus maximum sales charge)

$

66.91‌

$

38.93‌

$

55.94‌

CLASS C:

Net assets

$

118,319,848‌

$

192,354‌

$

9,054,457‌

Shares outstanding

1,877,860‌

5,269‌

266,112‌

NAV and offering price per share

$

63.01‌

$

36.51‌

$

34.02‌

CLASS I:

Net assets

$

2,279,343,841‌

$

7,192,150‌

$

530,326,315‌

Shares outstanding

36,207,678‌

196,122‌

9,067,188‌

NAV and offering price per share

$

62.95‌

$

36.67‌

$

58.49‌

CLASS R6:

Net assets

$

2,742,588,347‌

$

—‌

$

215,860,479‌

Shares outstanding

42,984,425‌

—‌

3,536,833‌

NAV and offering price per share

$

63.80‌

$

—‌

$

61.03‌

ETF CLASS:

Net assets

$

15,950,615‌

$

—‌

$

—‌

Shares outstanding

250,000‌

—‌

—‌

NAV per share

$

63.80‌

$

—‌

$

—‌

Market price per share

$

63.90‌

$

—‌

$

—‌

Authorized shares - per class

Unlimited

Unlimited

Unlimited

Par value per share

$

0.01

$

0.01

$

0.01

Statement of Operations

See Notes to Financial Statements

10

Year Ended July 31, 2026

Dividend Growth

Global Dividend

Growth

Winslow Large-Cap

Growth ESG

INVESTMENT INCOME

Affiliated income

$

559,708

$

1,205

$

225,584

Dividends

107,705,835

373,884

3,706,018

Interest

3,506,316

12,149

228,481

Securities lending income, net

—

—

6,443

Tax withheld

(615,320

)

(9,147

)

(10,055

)

Total investment income

111,156,539

378,091

4,156,471

EXPENSES

–

–

–

Management fees

38,204,244

122,687

5,531,302

12b-1 service fees - Class A

2,913,169

23,642

459,357

12b-1 distribution and service fees - Class C

1,400,398

3,046

105,136

Shareholder servicing agent fees - Class A

546,392

7,210

141,793

Shareholder servicing agent fees - Class C

68,838

235

8,137

Shareholder servicing agent fees - Class R6

84,062

—

11,423

Shareholder servicing agent fees - Class I

1,155,802

5,802

399,583

Shareholder servicing agent fees - ETF Class

(1)

17

—

—

Interest expense

6,687

16

1,200

Trustees fees

318,573

840

41,440

Custodian expenses

304,199

25,597

64,456

Registration fees

89,982

48,419

80,004

Professional fees

145,036

26,608

53,665

Shareholder reporting expenses

122,993

23,377

55,627

Other

61,166

9,659

15,830

Total expenses before fee waiver/expense reimbursement

45,421,558

297,138

6,968,953

Fee waiver/expense reimbursement

—

(114,746

)

(848,196

)

Net expenses

45,421,558

182,392

6,120,757

Net investment income (loss)

65,734,981

195,699

(1,964,286

)

REALIZED AND UNREALIZED GAIN (LOSS)

Realized gain (loss) from:

Investments

431,942,487

2,118,641

109,038,410

Foreign currency transactions

—

2,089

—

Net realized gain (loss)

431,942,487

2,120,730

109,038,410

Change in unrealized appreciation (depreciation) on:

Investments

111,134,815

52,568

(34,651,296

)

Foreign currency translations

—

(22

)

—

Net change in unrealized appreciation (depreciation)

111,134,815

52,546

(34,651,296

)

Net realized and unrealized gain (loss)

543,077,302

2,173,276

74,387,114

Net increase (decrease) in net assets from operations

$

608,812,283

$

2,368,975

$

72,422,828

(1)

For the period June 2, 2026 (commencement of operations) through July 31, 2026.

Statement of Changes in Net Assets

See Notes to Financial Statements

11

Dividend Growth

Global Dividend Growth

Year Ended

7/31/26

Year Ended

7/31/25

Year Ended

7/31/26

Year Ended

7/31/25

OPERATIONS

Net investment income (loss)

$

65,734,981‌

$

69,642,939‌

$

195,699‌

$

239,196‌

Net realized gain (loss)

431,942,487‌

592,788,863‌

2,120,730‌

1,439,601‌

Net change in unrealized appreciation (depreciation)

111,134,815‌

(77,400,618‌)

52,546‌

(297,671‌)

Net increase (decrease) in net assets from operations

608,812,283‌

585,031,184‌

2,368,975‌

1,381,126‌

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(126,150,569‌)

(72,001,678‌)

(994,386‌)

(683,150‌)

Class C

(14,227,690‌)

(10,178,565‌)

(32,486‌)

(34,740‌)

Class R6

(309,321,734‌)

(161,408,631‌)

—‌

—‌

Class I

(271,797,857‌)

(167,695,752‌)

(773,640‌)

(702,659‌)

ETF Class

(1)

(40,413‌)

—‌

—‌

—‌

Total distributions

(721,538,263‌)

(411,284,626‌)

(1,800,512‌)

(1,420,549‌)

FUND SHARE TRANSACTIONS

Subscriptions

871,030,219‌

663,912,969‌

1,213,812‌

1,820,741‌

Reinvestments of distributions

576,028,041‌

324,496,906‌

1,794,074‌

1,288,220‌

Redemptions

(1,365,834,718‌)

(1,170,989,830‌)

(5,680,596‌)

(3,618,409‌)

Net increase (decrease) from Fund share transactions

81,223,542‌

(182,579,955‌)

(2,672,710‌)

(509,448‌)

Net increase (decrease) in net assets

(31,502,438‌)

(8,833,397‌)

(2,104,247‌)

(548,871‌)

Net assets at the beginning of period

6,343,432,396‌

6,352,265,793‌

18,998,856‌

19,547,727‌

Net assets at the end of period

$

6,311,929,958‌

$

6,343,432,396‌

$

16,894,609‌

$

18,998,856‌

See Notes to Financial Statements

12

Statement of Changes in Net Assets

(continued)

Winslow Large-Cap Growth ESG

Year Ended

7/31/26

Year Ended

7/31/25

OPERATIONS

Net investment income (loss)

$

(1,964,286‌)

$

(1,734,073‌)

Net realized gain (loss)

109,038,410‌

169,259,909‌

Net change in unrealized appreciation (depreciation)

(34,651,296‌)

(12,419,406‌)

Net increase (decrease) in net assets from operations

72,422,828‌

155,106,430‌

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(38,017,636‌)

(34,274,122‌)

Class C

(3,293,361‌)

(2,144,487‌)

Class R6

(26,854,349‌)

(21,384,117‌)

Class I

(92,849,381‌)

(70,187,499‌)

Total distributions

(161,014,727‌)

(127,990,225‌)

FUND SHARE TRANSACTIONS

Subscriptions

346,848,485‌

172,016,616‌

Reinvestments of distributions

153,953,021‌

113,402,423‌

Redemptions

(381,824,205‌)

(353,993,950‌)

Net increase (decrease) from Fund share transactions

118,977,301‌

(68,574,911‌)

Net increase (decrease) in net assets

30,385,402‌

(41,458,706‌)

Net assets at the beginning of period

902,328,022‌

943,786,728‌

Net assets at the end of period

$

932,713,424‌

$

902,328,022‌

(1)

For the period June 2, 2026 (commencement of operations) through July 31, 2026.

Financial Highlights

14

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Market

Price,

End of

Period

Dividend Growth

Class

A

7/31/26

$

64.16

$

0.51

$

5.43

$

5.94

$

(0.53)

$

(6.51)

$

(7.04)

$

63.06

$

–

7/31/25

62.40

0.57

5.23

5.80

(0.57)

(3.47)

(4.04)

64.16

–

7/31/24

54.65

0.59

8.69

9.28

(0.60)

(0.93)

(1.53)

62.40

–

7/31/23

51.54

0.59

4.26

4.85

(0.61)

(1.13)

(1.74)

54.65

–

7/31/22

53.39

0.55

(0.49)

0.06

(0.56)

(1.35)

(1.91)

51.54

–

Class

C

7/31/26

64.11

0.04

5.43

5.47

(0.06)

(6.51)

(6.57)

63.01

–

7/31/25

62.36

0.10

5.22

5.32

(0.10)

(3.47)

(3.57)

64.11

–

7/31/24

54.63

0.18

8.67

8.85

(0.19)

(0.93)

(1.12)

62.36

–

7/31/23

51.52

0.21

4.26

4.47

(0.23)

(1.13)

(1.36)

54.63

–

7/31/22

53.33

0.15

(0.49)

(0.34)

(0.12)

(1.35)

(1.47)

51.52

–

Class

R6

7/31/26

64.85

0.71

5.48

6.19

(0.73)

(6.51)

(7.24)

63.80

–

7/31/25

63.03

0.76

5.30

6.06

(0.77)

(3.47)

(4.24)

64.85

–

7/31/24

55.19

0.77

8.78

9.55

(0.78)

(0.93)

(1.71)

63.03

–

7/31/23

52.05

0.75

4.29

5.04

(0.77)

(1.13)

(1.90)

55.19

–

7/31/22

53.92

0.72

(0.49)

0.23

(0.75)

(1.35)

(2.10)

52.05

–

Class

I

7/31/26

64.06

0.67

5.42

6.09

(0.69)

(6.51)

(7.20)

62.95

–

7/31/25

62.31

0.73

5.21

5.94

(0.72)

(3.47)

(4.19)

64.06

–

7/31/24

54.57

0.73

8.68

9.41

(0.74)

(0.93)

(1.67)

62.31

–

7/31/23

51.47

0.72

4.25

4.97

(0.74)

(1.13)

(1.87)

54.57

–

7/31/22

53.33

0.68

(0.49)

0.19

(0.70)

(1.35)

(2.05)

51.47

–

ETF

Class

7/31/26

(g)

62.96

0.08

0.92

1.00

(0.16)

—

(0.16)

63.80

63.90

(a)

Based on average shares outstanding.

(b)

Total returns are at NAV and do not include any sales charge. Total returns are not annualized.  

(c)

Total Return Based on Market Price reflects the change in the closing market price per share over the period,

including the assumed reinvestment of distributions, if any, at the closing market price per share on each ex-dividend

payment date during the period. Since shares of the Fund did not trade in the secondary market until after the Fund’s

commencement of operations, for the period from the commencement of operations to the first day of market trading,

the NAV is used as a proxy for the market price to calculate market price returns. Total returns are not annualized.

(d)

The Fund has a contractual fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee

waiver/expense reimbursement during the periods presented herein. See Notes to Financial Statements for more

information.

(e)

Includes voluntary compensation from the Adviser as further described in the Notes to Financial Statements.

(f)

Does not include in-kind transactions.

(g)

For the period June 2, 2026 (commencement of operations) through July 31, 2026.

(h)

Annualized.

See Notes to Financial Statements

15

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

Based on

Net Asset Value

(b)

Total

Return

Based on

Market Price

(c)

Net

Assets,

End of

Period (000)

Expenses

(d)

NII

(Loss)

(d),(e)

Portfolio

Turnover

Rate

(f)

9.78‌

%

–‌

%

$

1,155,727

0.90‌

%

0.80‌

%

20‌

%

9.43‌

–‌

1,161,600

0.91‌

0.90‌

12‌

17.35‌

–‌

1,121,499

0.92‌

1.05‌

11‌

9.75‌

–‌

976,938

0.92‌

1.16‌

17‌

(0.04‌)

–‌

932,555

0.91‌

1.04‌

17‌

8.96‌

–‌

118,320

1.65‌

0.06‌

20‌

8.61‌

–‌

159,004

1.66‌

0.15‌

12‌

16.46‌

–‌

194,806

1.67‌

0.32‌

11‌

8.92‌

–‌

240,863

1.67‌

0.42‌

17‌

(0.79‌)

–‌

295,522

1.66‌

0.29‌

17‌

10.09‌

–‌

2,742,588

0.61‌

1.10‌

20‌

9.77‌

–‌

2,510,434

0.61‌

1.20‌

12‌

17.70‌

–‌

2,518,257

0.62‌

1.36‌

11‌

10.05‌

–‌

2,398,869

0.62‌

1.46‌

17‌

0.28‌

–‌

2,394,117

0.61‌

1.34‌

17‌

10.05‌

–‌

2,279,344

0.65‌

1.06‌

20‌

9.70‌

–‌

2,512,395

0.66‌

1.15‌

12‌

17.64‌

–‌

2,517,704

0.67‌

1.31‌

11‌

10.01‌

–‌

2,392,913

0.67‌

1.41‌

17‌

0.22‌

–‌

2,342,735

0.66‌

1.29‌

17‌

1.60‌

1.76‌

15,951

0.59‌

(h)

0.79‌

(h)

20‌

16

Financial Highlights

(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Global Dividend Growth

Class

A

7/31/26

$

35.76

$

0.37

$

4.45

$

4.82

$

(0.48)

$

(3.41)

$

(3.89)

$

36.69

7/31/25

35.83

0.41

2.17

2.58

(0.44)

(2.21)

(2.65)

35.76

7/31/24

31.41

0.40

4.47

4.87

(0.44)

(0.01)

(0.45)

35.83

7/31/23

29.98

0.42

2.16

2.58

(0.42)

(0.73)

(1.15)

31.41

7/31/22

32.93

0.41

(0.93)

(0.52)

(0.49)

(1.94)

(2.43)

29.98

Class

C

7/31/26

35.60

0.08

4.46

4.54

(0.22)

(3.41)

(3.63)

36.51

7/31/25

35.70

0.13

2.16

2.29

(0.18)

(2.21)

(2.39)

35.60

7/31/24

31.30

0.16

4.45

4.61

(0.20)

(0.01)

(0.21)

35.70

7/31/23

29.87

0.19

2.17

2.36

(0.20)

(0.73)

(0.93)

31.30

7/31/22

32.82

0.16

(0.92)

(0.76)

(0.25)

(1.94)

(2.19)

29.87

Class

I

7/31/26

35.74

0.46

4.45

4.91

(0.57)

(3.41)

(3.98)

36.67

7/31/25

35.82

0.50

2.16

2.66

(0.53)

(2.21)

(2.74)

35.74

7/31/24

31.39

0.48

4.48

4.96

(0.52)

(0.01)

(0.53)

35.82

7/31/23

29.96

0.49

2.16

2.65

(0.49)

(0.73)

(1.22)

31.39

7/31/22

32.92

0.48

(0.93)

(0.45)

(0.57)

(1.94)

(2.51)

29.96

(a)

Based on average shares outstanding.

(b)

Total returns are at NAV and do not include any sales charge. Total returns are not annualized.  

(c)

After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Notes to Financial Statements for more information.

(d)

Includes voluntary compensation from the Adviser as further described in the Notes to Financial Statements.

See Notes to Financial Statements

17

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b)

Net

Assets,

End of

Period (000)

Gross

Expenses

Net

Expenses

(c)

NII

(Loss)

(c),(d)

Portfolio

Turnover

Rate

14.27‌

%

$

9,510

1.81‌

%

1.15‌

%

1.04‌

%

17‌

%

7.33‌

9,524

1.91‌

1.15‌

1.15‌

14‌

15.64‌

8,930

1.83‌

1.15‌

1.24‌

17‌

9.00‌

8,849

1.86‌

1.15‌

1.42‌

23‌

(2.02‌)

8,082

1.95‌

1.14‌

1.30‌

18‌

13.45‌

192

2.55‌

1.89‌

0.21‌

17‌

6.51‌

452

2.66‌

1.90‌

0.36‌

14‌

14.78‌

532

2.58‌

1.90‌

0.49‌

17‌

8.21‌

617

2.61‌

1.90‌

0.64‌

23‌

(2.78‌)

885

2.70‌

1.89‌

0.50‌

18‌

14.57‌

7,192

1.56‌

0.90‌

1.27‌

17‌

7.57‌

9,022

1.66‌

0.90‌

1.39‌

14‌

15.97‌

10,085

1.58‌

0.90‌

1.49‌

17‌

9.28‌

10,252

1.61‌

0.90‌

1.66‌

23‌

(1.81‌)

10,137

1.70‌

0.89‌

1.51‌

18‌

18

Financial Highlights

(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a)

Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Winslow Large-Cap Growth ESG

Class

A

7/31/26

$

61.00

$

(0.23)

$

4.46

$

4.23

$

—

$

(12.51)

$

(12.51)

$

52.72

7/31/25

59.26

(0.23)

10.66

10.43

—

(8.69)

(8.69)

61.00

7/31/24

47.53

(0.18)

14.78

14.60

—

(2.87)

(2.87)

59.26

7/31/23

44.38

(0.09)

6.73

6.64

—

(3.49)

(3.49)

47.53

7/31/22

60.52

(0.22)

(10.03)

(10.25)

—

(5.89)

(5.89)

44.38

Class

C

7/31/26

43.99

(0.43)

2.97

2.54

—

(12.51)

(12.51)

34.02

7/31/25

45.18

(0.48)

7.98

7.50

—

(8.69)

(8.69)

43.99

7/31/24

37.13

(0.43)

11.35

10.92

—

(2.87)

(2.87)

45.18

7/31/23

35.74

(0.31)

5.19

4.88

—

(3.49)

(3.49)

37.13

7/31/22

50.17

(0.51)

(8.03)

(8.54)

—

(5.89)

(5.89)

35.74

Class

R6

7/31/26

68.48

(0.06)

5.12

5.06

—

(12.51)

(12.51)

61.03

7/31/25

65.37

(0.02)

11.82

11.80

—

(8.69)

(8.69)

68.48

7/31/24

51.97

0.03

16.24

16.27

—

(2.87)

(2.87)

65.37

7/31/23

47.98

0.08

7.40

7.48

—

(3.49)

(3.49)

51.97

7/31/22

64.78

(0.05)

(10.86)

(10.91)

—

(5.89)

(5.89)

47.98

Class

I

7/31/26

66.18

(0.10)

4.92

4.82

—

(12.51)

(12.51)

58.49

7/31/25

63.49

(0.09)

11.47

11.38

—

(8.69)

(8.69)

66.18

7/31/24

50.62

(0.05)

15.79

15.74

—

(2.87)

(2.87)

63.49

7/31/23

46.90

0.02

7.19

7.21

—

(3.49)

(3.49)

50.62

7/31/22

63.50

(0.09)

(10.62)

(10.71)

—

(5.89)

(5.89)

46.90

(a)

Based on average shares outstanding.

(b)

Total returns are at NAV and do not include any sales charge. Total returns are not annualized.  

(c)

After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Notes to Financial Statements

for more information.

(d)

Includes voluntary compensation from the Adviser as further described in the Notes to Financial Statements.

See Notes to Financial Statements

19

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b)

Net

Assets,

End of

Period (000)

Gross

Expenses

Net

Expenses

(c)

NII

(Loss)

(c),(d)

Portfolio

Turnover

Rate

8.22‌

%

$

177,472

0.99‌

%

0.90‌

%

(0.42‌)

%

133‌

%

18.28‌

191,896

1.03‌

0.90‌

(0.39‌)

95‌

31.95‌

235,751

1.09‌

0.91‌

(0.34‌)

56‌

17.09‌

186,017

1.11‌

0.91‌

(0.21‌)

74‌

(19.30‌)

174,142

1.08‌

0.90‌

(0.42‌)

69‌

7.42‌

9,054

1.74‌

1.65‌

(1.17‌)

133‌

17.39‌

11,644

1.78‌

1.65‌

(1.14‌)

95‌

30.94‌

12,086

1.84‌

1.66‌

(1.08‌)

56‌

16.24‌

11,710

1.86‌

1.66‌

(0.96‌)

74‌

(19.90‌)

15,269

1.83‌

1.65‌

(1.17‌)

69‌

8.54‌

215,860

0.67‌

0.58‌

(0.10‌)

133‌

18.71‌

186,529

0.67‌

0.54‌

(0.04‌)

95‌

32.45‌

157,610

0.70‌

0.52‌

0.04‌

56‌

17.58‌

97,947

0.71‌

0.51‌

0.18‌

74‌

(19.04‌)

76,592

0.74‌

0.56‌

(0.08‌)

69‌

8.48‌

530,326

0.74‌

0.65‌

(0.17‌)

133‌

18.58‌

512,260

0.78‌

0.65‌

(0.14‌)

95‌

32.26‌

538,340

0.84‌

0.66‌

(0.08‌)

56‌

17.40‌

468,620

0.86‌

0.66‌

0.04‌

74‌

(19.10‌)

420,440

0.83‌

0.65‌

(0.17‌)

69‌

20

Notes to Financial Statements

1. General Information 

Trust and Fund Information:

The Nuveen Investment Trust II (the “Trust”) is an open-end management investment company registered under the

Investment Company Act of 1940 (the “1940 Act”), as amended. The Trust is comprised of Nuveen Dividend Growth Fund ("Dividend Growth"),

Nuveen Global Dividend Growth Fund (“Global Dividend Growth”), and Nuveen Winslow Large-Cap Growth ESG Fund (“Winslow Large-Cap

Growth ESG”) (each a “Fund” and collectively the “Funds”), among others. The Trust was organized as a Massachusetts business trust on June 27,

1997.

Current Fiscal Period

: The end of the reporting period for the Funds is July 31, 2026, and the period covered by these Notes to Financial

Statements is the fiscal year ended July 31, 2026 (the "current fiscal period").

ETF Class Shares:

On June 2, 2026, Dividend Growth began offering ETF Class Shares.

Investment Adviser and Sub-Adviser:

The Funds’ investment adviser is Nuveen Fund Advisors, LLC (the “Adviser”), a subsidiary of Nuveen,

LLC (“Nuveen”). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (“TIAA”). The Adviser has

overall responsibility for management of the Funds, oversees the management of the Funds’ portfolios, manages the Funds’ business affairs and

provides certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into a

sub-advisory agreement with Nuveen Asset Management, LLC (“NAM”), a subsidiary of the Adviser and Winslow Capital Management, LLC (each a

"Sub-Adviser" and collectively the "Sub-Advisers"). NAM manages the investment portfolios of Dividend Growth and Global Dividend Growth while

Winslow Capital Management, LLC manages the portfolio of Winslow Large-Cap Growth ESG.

Share Classes and Sales Charges:

Class A Shares are generally sold with an up-front sales charge. Class A Share purchases of $1 million or

more are sold at net asset value (“NAV”) without an up-front sales charge but may be subject to a contingent deferred sales charge (“CDSC”) of

1% if redeemed within eighteen months of purchase. Class C Shares are sold without an up-front sales charge but are subject to a CDSC of 1% if

redeemed within twelve months of purchase. Class C Shares automatically convert to Class A Shares eight years after purchase. Dividend Growth

offers an exchange-traded share class that operates as an ETF (“ETF Class”). The ETF Class Shares are traded on the NYSE Arca, (the “Exchange”)

and are listed and traded at market-determined prices. Class R6 Shares, Class I Shares and ETF Class Shares are sold without an upfront sales charge.

2. Significant Accounting Policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America

(“U.S. GAAP”), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ

from those estimates. The Funds are investment companies and follow the accounting guidance in the Financial Accounting Standards Board

(“FASB”) Accounting Standards Codification 946, Financial Services — Investment Companies. The NAV for financial reporting purposes may differ

from the NAV for processing security and common share transactions. The NAV for financial reporting purposes includes security and common share

transactions through the date of the report. Total return is computed based on the NAV used for processing security and common share transactions.

The following is a summary of the significant accounting policies consistently followed by the Funds.

Compensation:

The Trust pays no compensation directly to those of its officers, all of whom receive remuneration for their services to the Trust from

the Adviser or its affiliates. The Funds' Board of Trustees (the "Board") has adopted a deferred compensation plan for independent trustees that

enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised

funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.

Distributions to Shareholders:

Distributions to shareholders are recorded on the ex-dividend date. The amount, character and timing of

distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Foreign Currency Transactions and Translation:

The books and records of the Funds are maintained in U.S. dollars. Assets, including investments,

and liabilities denominated in foreign currencies are translated into U.S. dollars at the end of each day. Purchases and sales of securities, income and

expenses are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.

Some markets in which the Funds invest impose capital controls, repatriation limits and/or transaction fees, for example, on the amount of foreign

currency that may be converted to U.S. dollars. These restrictions, in some markets where foreign exchange restrictions are imposed, may be

reflected in non-deliverable forward rates (NDF), or prevailing “offshore” rates that apply to non-local investors. Accordingly, the Fund may apply

NDF rates, or another alternative exchange rate believed by the Adviser to be more reflective of the rates at which the Funds may transact, where

applicable, to convert the value of non-U.S. dollar denominated securities to U.S. dollars. The U.S. dollar market value of such securities held in

markets where NDF rates exist may be lower than the U.S. dollar market value of securities using prevailing local or “onshore” foreign currency

exchange rates.    

Net realized foreign currency gains and losses resulting from changes in exchange rates associated with (i) foreign currency, (ii) investments and (iii)

derivatives include foreign currency gains and losses between trade date and settlement date of the transactions, foreign currency transactions, and

the difference between the amounts of interest and dividends recorded on the books of the Funds and the amounts actually received are recognized

as a component of “Net realized gain (loss) from foreign currency transactions” on the Statement of Operations, when applicable.

21

The unrealized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with

(i) investments and (ii) other assets and liabilities are recognized as a component of “Change in unrealized appreciation (depreciation) on foreign

currency translations” on the Statement of Operations, when applicable. The unrealized gains and losses resulting from changes in foreign exchange

rates associated with investments in derivatives are recognized as a component of the respective derivative’s related “Change in unrealized

appreciation (depreciation)” on the Statement of Operations, when applicable.

Foreign Taxes:

The Funds may be subject to foreign taxes on income, gains on investments or foreign currency repatriation, a portion of which may

be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon the current interpretation of tax rules and regulations that

exist in the markets in which the Funds invest.

Indemnifications:

Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of

the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts that provide general

indemnifications to other parties. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may

be made against the Trust that have not yet occurred. However, the Trust has not had prior claims or losses pursuant to these contracts and expects

the risk of loss to be remote.

Investments and Investment Income:

Securities transactions are accounted for as of the trade date for financial reporting purposes. Realized gains

and losses on securities transactions are based upon the specific identification method. Dividend income is recorded on the ex-dividend date or, for

certain foreign securities, when information is available. Non-cash dividends received in the form of stock, if any, are recognized on the ex-dividend

date and recorded at fair value. Interest income is recorded on an accrual basis and includes accretion of discounts and amortization of premiums

for financial reporting purposes. Securities lending income is comprised of fees earned from borrowers and income earned on cash collateral

investments.

Multiclass Operations and Allocations:

Income and expenses that are not directly attributable to a specific class of shares are prorated among

the classes of each Fund based on the relative net assets of each class. Sub-transfer agent fees and similar fees are not charged to Class R6 and ETF

Class Shares. Expenses directly attributable to a share class are recorded to that class. Class-level expenses include, but are not limited to, transfer

agency fees and expenses, state securities registration fees, exchange listing fees related to such class, and distribution and service fees (collectively,

“12b-1 fees”). Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each

class. 

Netting Agreements:

In the ordinary course of business, the Funds may enter into transactions subject to enforceable master repurchase

agreements, International Swaps and Derivatives Association, Inc. (ISDA) master agreements or other similar arrangements (“netting agreements”).

Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when

applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages

its cash collateral and securities collateral on a counterparty basis. With respect to certain counterparties, in accordance with the terms of the netting

agreements, collateral posted to the Funds is held in a segregated account by the Funds’ custodian and/or with respect to those amounts which can

be sold or repledged, are presented in the Funds’ Portfolio of Investments or Statement of Assets and Liabilities.

The Funds’ investments subject to netting agreements as of the end of the current fiscal period, if any, are further described later in these Notes to

Financial Statements.

Segment Reporting:

Each Fund represents a single operating segment. The officers of the Funds act as the chief operating decision maker

(“CODM”), as defined in U.S. GAAP. The CODM monitors the operating results of each Fund as a whole and is responsible for each Fund’s long-

term strategic asset allocation in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the

Fund’s portfolio managers as a team. The financial information in the form of the Fund’s portfolio composition, total returns, expense ratios and

changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess

the segment’s performance versus the Fund’s comparative benchmarks and to make resource allocation decisions for the Fund’s single segment,

is consistent with that presented within the Fund’s financial statements. Segment assets are reflected on the Statement of Assets and Liabilities as

“total assets” and significant segment revenues and expenses are listed on the Statement of Operations.  

New Accounting Pronouncement (ASU No. 2023-09)

: In December 2023, the FASB issued Accounting Standard Update ("ASU") No. 2023-09,

Income Taxes (Topic 740) Improvements to Income tax disclosures (“ASU 2023-09”). The primary purpose of the amendments within ASU 2023-09

is to enhance the transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation table and income taxes

paid information. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. During the current fiscal

period, the Funds adopted the new guidance. See Note 7 for more income tax information. 

New Accounting Pronouncement (ASU No. 2025-11)

: In December 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic 270)

Narrow Scope Improvements (“ASU 2025-11”). The amendments in ASU 2025-11 provide a comprehensive list of interim disclosures that are

required by U.S. GAAP. ASU 2025-11 also includes a disclosure principle that requires entities to disclose events since the end of the last annual

reporting period that have a material impact on the entity. The amendments in ASU 2025-11 are effective for interim reporting periods within

annual reporting periods beginning after December 15, 2027. Early adoption is permitted for all entities. Management is currently evaluating the

implications of these changes on the financial statements.

New Accounting Pronouncement (ASU No. 2026-03):

In September 2026, the FASB issued ASU No. 2026-03, Fair Value Measurement (Topic

820) Investment Companies with Equity Securities Subject to Contractual Sale Restrictions (“ASU 2026-03”). The amendments in ASU 2026-03

requires investment companies to consider the effect of contractual sale restrictions when measuring the fair value of certain equity securities and

requires enhanced disclosures regarding such restrictions, including the amount of any discount attributable to the restriction, for both annual

and interim periods. The amendments in ASU 2026-03 are effective for interim reporting periods within annual reporting periods beginning after

December 15, 2027. Early adoption is permitted. Management is currently evaluating the implications of these changes on the financial statements.

22

Notes to Financial Statements

(continued)

3. Investment Valuation and Fair Value Measurements 

The Funds’ investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Adviser, subject to

oversight of the Board. 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).

A description of the valuation techniques applied to the Funds’ major classifications of assets and liabilities measured at fair value follows:

Equity securities and exchange-traded funds listed or traded on a national market or exchange are valued based on their last reported sales price

or official closing price of such market or exchange on the valuation date. Foreign equity securities and registered investment companies that trade

on a foreign exchange are valued at the last reported sales price or official closing price on the principal exchange where traded, and converted to

U.S. dollars at the prevailing rates of exchange on the valuation date. For events affecting the value of foreign securities between the time when

the exchange on which they are traded closes and the time when the Funds' net assets are calculated, such securities will be valued at fair value in

accordance with procedures adopted by the Adviser, subject to the oversight of the Board. To the extent these securities are actively traded and no

valuation adjustments are applied, they are generally classified as Level 1. When valuation adjustments are applied to the most recent last sales price

or official closing price, these securities are generally classified as Level 2.

Prices of certain American Depositary Receipts (“ADR”) held by the Funds that trade in the United States are valued based on the last traded price,

official closing price, or an evaluated price provided by the pricing services and are generally classified as Level 1 or 2.

Repurchase agreements are valued at contract amount plus accrued interest, which approximates market value. These securities are generally

classified as Level 2.

For any portfolio security or derivative for which market quotations are not readily available or for which the Adviser deems the valuations derived

using the valuation procedures described above not to reflect fair value, the Adviser will determine a fair value in good faith using alternative

procedures approved by the Adviser, subject to the oversight of the Board. As a general principle, the fair value of a security is the amount that

the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such

securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity

and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions

and other information and analysis, including the obligor’s credit characteristics considered relevant. To the extent the inputs are observable and

timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.

The following table summarizes the market value of the Funds’ investments, and the fair value of certain other assets and liabilities, when

applicable, as of the end of the current fiscal period, based on the inputs used to value them:

Dividend Growth

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Common Stocks

$

6,220,418,344

$

–

$

–

$

6,220,418,344

Short-Term Investments:

Repurchase Agreements

–

89,131,263

–

89,131,263

$

6,220,418,344

$

89,131,263

$

–

$

6,309,549,607

Global Dividend Growth

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Common Stocks

$

11,743,525

$

4,958,481

$

–

$

16,702,006

Short-Term Investments:

Repurchase Agreements

–

225,000

–

225,000

$

11,743,525

$

5,183,481

$

–

$

16,927,006

23

The following is a reconciliation of the Funds’ Level 3 investments held at the beginning and end of the measurement period:

The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements of assets as of the end of the current

reporting period, were as follows:

4. Portfolio Securities

Repurchase Agreements:

In connection with transactions in repurchase agreements, it is each Fund's policy that its custodian take possession of

the underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase transaction, including accrued interest, at

all times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.

The following table presents the repurchase agreements for the Funds that are subject to netting agreements as of the end of the current fiscal

period, and the collateral delivered related to those repurchase agreements.

Winslow Large-Cap Growth ESG

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Common Stocks

$

906,527,651

$

–

$

–

$

906,527,651

Common Stocks in Private Companies

–

–

6,880,995

6,880,995

Preferred Stocks in Private Companies

–

–

14,314,499

14,314,499

Short-Term Investments:

Repurchase Agreements

–

13,500,000

–

13,500,000

$

906,527,651

$

13,500,000

$

21,195,494

$

941,223,145

Level 3

Winslow Large-Cap Growth ESG

Common Stocks

In Private

Companies

Preferred Stocks

In Private

Companies

Balance at the beginning of period

$-

$-

Gains (losses):

Net realized gains (losses)

-

-

Change in net unrealized appreciation (depreciation)

470,794

8,020,031

Purchases at cost

6,410,201

6,294,468

Sales at proceeds

-

-

Net discounts (premiums)

-

-

Transfers into

-

-

Transfers (out of)

-

-

Balance at the end of period

$6,880,995

$14,314,499

Change in net unrealized appreciation (depreciation) during the period of Level 3 securities held as of

period end

$470,794

$8,020,031

Fund

Asset Class

Market Value

Techniques

Unobservable

Inputs

Range

Weighted

Average

Impact to Valuation

from an Increase in

Input*

Winslow Large-

Cap Growth ESG

Common Stock in

Private Companies

$6,880,995

Recent

Transactions

Transaction Price

$687.69

N/A

Increase

Preferred Stock in

Private Companies

14,314,499

Recent

Transactions

Transaction Price

$253.00 - $589.01

$505.75

Increase

Total

$21,195,494

* Represents the directional change in the fair value of the Level 3 instruments that could have resulted from an increase in the corresponding input as of the reporting

period. A decrease to the unobservable input would have had the opposite effect. Significant changes to these input may have resulted in a significantly higher or lower

fair value measurement at the end of the reporting period.

Fund

Counterparty

Short-term

Investments,

at Value

Collateral

Pledged (From)

Counterparty

Dividend Growth

Fixed Income Clearing Corporation

$

89,131,263

$

(90,913,948)

Global Dividend Growth

Fixed Income Clearing Corporation

225,000

(229,513)

Winslow Large-Cap Growth ESG

Fixed Income Clearing Corporation

13,500,000

(13,770,065)

24

Notes to Financial Statements

(continued)

Securities Lending:

Each Fund may lend securities representing up to one-third of the value of its total assets to broker-dealers, banks, and other

institutions in order to generate additional income. When loaning securities, the Fund retains the benefits of owning the securities, including the

economic equivalent of dividends or interest generated by the security. The loans are continuous, can be recalled at any time, and have no set

maturity. The Funds’ custodian, State Street Bank and Trust Company, serves as the securities lending agent (the “Agent”).

When a Fund loans its portfolio securities, it will receive, at the inception of each loan, cash collateral equal to an amount not less than 100% of the

market value of the loaned securities. The actual percentage of the cash collateral will vary depending upon the asset type of the loaned securities.

Collateral for the loaned securities is invested in a government money market vehicle maintained by the Agent, which is subject to the requirements

of Rule 2a-7 under the 1940 Act. The value of the loaned securities and the liability to return the cash collateral received are recognized on the

Statement of Assets and Liabilities. If the market value of the loaned securities increases, the borrower must furnish additional collateral to the Fund,

which is also recognized on the Statement of Assets and Liabilities. The market value of securities loaned is determined at the close of business of

the Funds and any additional required collateral is delivered to the Funds on the next business day. Securities out on loan are subject to termination

at any time at the option of the borrower or the Fund. Upon termination, the borrower is required to return to the Fund securities identical to the

securities loaned. During the term of the loan, the Fund bears the market risk with respect to the investment of collateral and the risk that the Agent

may default on its contractual obligations to the Fund. The Agent bears the risk that the borrower may default on its obligation to return the loaned

securities as the Agent is contractually obligated to indemnify the Fund if at the time of a default by a borrower some or all of the loan securities

have not been returned.

Securities lending income recognized by a Fund consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and

compensation to the Agent. Such income is recognized on the Statement of Operations.

As of the end of the current fiscal period, the Funds did not have any securities out on loan.

Purchases and Sales:

Long-term purchases and sales (excluding in-kind transactions) during the current fiscal period were as follows:

In-kind transactions during the current fiscal period were as follows:

The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased on a when-issued or delayed-delivery basis may

have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market fluctuation

during this period. If a Fund has outstanding when-issued/delayed-delivery purchases commitments as of the end of the current fiscal period, such

amounts are recognized on the Statement of Assets and Liabilities.

5. Derivative Investments

Each Fund is authorized to invest in certain derivative instruments. As defined by U.S. GAAP, a derivative is a financial instrument whose value is

derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Investments in derivatives

as of the end of and/or during the current fiscal period, if any, are included within the Statement of Assets and Liabilities and the Statement of

Operations, respectively.

Market and Counterparty Credit Risk:

In the normal course of business each Fund may invest in financial instruments and enter into financial

transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform

(counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets,

which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap

transactions, when applicable. The extent of each Fund’s exposure to counterparty credit risk in respect to these financial assets approximates their

carrying value as recorded on the Statement of Assets and Liabilities.

Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial

resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may

be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal

to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have

Fund

Non-U.S.

Government

Purchases

Non-U.S.

Government

Sales

Dividend Growth

$

1,299,583,836

$

1,913,265,916

Global Dividend Growth

2,968,225

6,720,528

Winslow Large-Cap Growth ESG

1,163,845,969

1,207,677,346

Fund

In-Kind Purchases

In-Kind Sales

Dividend Growth

$

15,555,787

$

—

Global Dividend Growth

—

—

Winslow Large-Cap Growth ESG

—

—

25

instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a

pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by

at least the pre-determined threshold amount.

6. Fund Shares

ETF Class Shares are issued and redeemed on a continuous basis at NAV only in aggregations of a specified number of shares or multiples thereof

("Creation Units"). Only certain institutional investors (referred to as "Authorized Participants") who have entered into agreements with Nuveen

Securities, LLC, the Funds' (“Distributor”), a wholly-owned subsidiary of Nuveen, may purchase and redeem Creation Units. Once created, shares of

the Funds trade on the Exchange at market prices and are only available to individual investors through their brokers.

Creation Units are purchased and redeemed in-kind for a designated portfolio of securities and/or a specified amount of cash, as determined by

each Fund's investment approach. Creation Units may be delivered in advance of receipt by a Fund of all or a portion of the designated portfolio

securities. In these instances the Authorized Participants must deposit cash collateral in an amount equal to the sum of the (i) cash component, (ii)

all applicable fees and (iii) an amount of cash equal to a percentage of the market value of the undelivered securities, as defined in the participation

agreement. Authorized Participants are charged fixed transaction fees in connection with purchasing and redeeming Creation Units.

Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant Fund for certain

transaction costs (i.e., taxes on currency or other financial transactions, and brokerage costs) and market impact expenses it incurs in purchasing or

selling portfolio securities. Such variable charges, if any, are included in "Proceeds from shares sold" on the Statements of Changes in Net Assets.

Transactions in Fund shares during the current and prior fiscal period were as follows:

Year Ended

7/31/26

Year Ended

7/31/25

Dividend Growth

Shares

Value

Shares

Value

Subscriptions:

Class A

1,964,478

$124,408,214

1,835,991

$115,222,608

Class A - automatic conversion of Class C

620

38,352

3,411

217,928

Class C

204,585

12,955,374

323,879

20,320,421

Class R6

7,124,107

469,881,293

3,676,988

231,608,730

Class I

3,932,637

248,017,986

4,742,677

296,543,282

ETF Class

(1)

250,000

15,729,000

—

—

Total subscriptions

13,476,427

871,030,219

10,582,946

663,912,969

Reinvestments of distributions:

Class A

1,375,079

85,030,784

770,360

48,783,144

Class C

167,559

10,338,070

113,176

7,163,375

Class R6

4,912,699

307,411,055

2,504,786

160,286,822

Class I

2,804,260

173,248,132

1,712,449

108,263,565

Total reinvestments of distributions

9,259,597

576,028,041

5,100,771

324,496,906

Redemptions:

Class A

(3,118,308)

(197,883,801)

(2,477,974)

(155,730,310)

Class C

(973,798)

(61,864,841)

(1,077,376)

(67,266,081)

Class C - automatic conversion to Class A

(621)

(38,352)

(3,415)

(217,928)

Class R6

(7,766,041)

(492,635,704)

(7,421,342)

(472,174,870)

Class I