Growth Leaders Fund

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LGLUX

Growth Leaders Fund

LGLUX

Daily price w/o sales charge as of 09/28/2023

$29.92

$0.36

YTD Returns w/o sales charge as of 09/28/2023

16.28%

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Summary

What is the Growth Leaders Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of U.S. companies.

Fund Basicsas of 08/31/2023

Total Net Assets: $5.52 B
Inception Date: 06/30/2015
Dividend Frequency: Annually
Fund Gross Expense Ratio: 0.66%
Fund Net Expense Ratio: 0.66%
Number of Holdings: 51

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 06/30/2011

w/o sales charge	25.22%	8.27%	-0.64%	10.18%	13.71%	13.46%
Lipper Category Avg. Multi-Cap Growth Funds	23.74%	13.89%	1.78%	8.54%	11.65%	-
Russell 1000® Growth Index	32.17%	21.94%	8.25%	13.81%	15.63%	-
w/ sales charge	25.22%	8.27%	-0.64%	10.18%	13.71%	13.46%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 06/30/2011

w/o sales charge	22.35%	12.55%	4.63%	11.68%	14.13%	13.45%
Lipper Category Avg. Multi-Cap Growth Funds	22.60%	21.55%	6.56%	9.93%	12.13%	-
Russell 1000® Growth Index	29.02%	27.11%	13.73%	15.14%	15.74%	-

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

TEN LARGEST HOLDINGS as of 08/31/2023View Portfolio

Holding	Assets
NVIDIA Corp	11.0%
Apple Inc	7.6%
Microsoft Corp	6.3%
Alphabet Inc	4.5%
Amazon.com Inc	4.4%
Meta Platforms Inc	3.0%
Shopify Inc	2.7%
Eli Lilly & Co	2.7%
Adobe Inc	2.7%
Arista Networks Inc	2.5%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 08/31/2023View Portfolio

Sector	Weighting

Sector	Weighting
Communication Services
Real Estate
Utilities
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials

INVESTMENT TEAM

F. Thomas O'Halloran, CFA, J.D.

Partner & Portfolio Manager

36 Years of Industry Experience

Vernon Bice, CMT

Portfolio Manager

22 Years of Industry Experience

Matthew R. DeCicco, CFA

Partner & Director of Equities

23 Years of Industry Experience

Benjamin Ebel

Portfolio Manager

31 Years of Industry Experience

Steven H. Wortman

Portfolio Manager

25 Years of Industry Experience

Supported By 42 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 06/30/2011

w/o sales charge	25.22%	8.27%	-0.64%	10.18%	13.71%	13.46%
Lipper Category Avg. Multi-Cap Growth Funds	23.74%	13.89%	1.78%	8.54%	11.65%	-
Russell 1000® Growth Index	32.17%	21.94%	8.25%	13.81%	15.63%	-
w/ sales charge	25.22%	8.27%	-0.64%	10.18%	13.71%	13.46%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 06/30/2011

w/o sales charge	22.35%	12.55%	4.63%	11.68%	14.13%	13.45%
Lipper Category Avg. Multi-Cap Growth Funds	22.60%	21.55%	6.56%	9.93%	12.13%	-
Russell 1000® Growth Index	29.02%	27.11%	13.73%	15.14%	15.74%	-

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Year	Fund Returns	Russell 1000® Growth Index

2022	-38.71%	-29.14%
2021	8.94%	27.60%
2020	77.49%	38.49%
2019	35.07%	36.39%
2018	-0.72%	-1.51%
2017	31.59%	30.21%
2016	0.88%	7.08%
2015	6.90%	5.67%
2014	10.41%	13.05%
2013	47.22%	33.48%
2012	10.42%	-
2011	-	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2023	9.99%	11.24%	-	-	16.28%
2022	-13.03%	-23.39%	-3.47%	-4.70%	-38.71%
2021	-3.82%	6.57%	1.53%	4.68%	8.94%
2020	-9.74%	40.23%	18.95%	17.89%	77.49%
2019	20.83%	6.38%	-5.90%	11.67%	35.07%
2018	4.63%	6.99%	11.07%	-20.14%	-0.72%
2017	8.08%	6.22%	6.58%	7.55%	31.59%
2016	-3.83%	0.73%	6.14%	-1.88%	0.88%
2015	4.76%	1.24%	-6.10%	7.34%	6.90%
2014	2.16%	3.62%	0.07%	4.23%	10.41%
2013	11.52%	7.31%	13.20%	8.68%	47.22%
2012	15.55%	-5.78%	3.91%	-2.41%	10.42%
2011	-	-	-14.97%	7.93%	-

NAV HISTORICAL PRICES

Date	Net Asset Value

Portfolio

Holding	Sector	Assets

NVIDIA Corp	Information Technology	11.0%
Apple Inc	Information Technology	7.6%
Microsoft Corp	Information Technology	6.3%
Alphabet Inc	Communication Services	4.5%
Amazon.com Inc	Consumer Discretionary	4.4%
Meta Platforms Inc	Communication Services	3.0%
Shopify Inc	Information Technology	2.7%
Eli Lilly & Co	Health Care	2.7%
Adobe Inc	Information Technology	2.7%
Arista Networks Inc	Information Technology	2.5%

Holding	Sector	Assets

NVIDIA Corp	Information Technology	10.1%
Apple Inc	Information Technology	7.7%
Microsoft Corp	Information Technology	6.3%
Alphabet Inc	Communication Services	4.3%
Amazon.com Inc	Consumer Discretionary	3.6%
Meta Platforms Inc	Communication Services	3.2%
Shopify Inc	Information Technology	2.7%
Adobe Inc	Information Technology	2.5%
Netflix Inc	Communication Services	2.3%
Trade Desk Inc/The	Information Technology	2.2%
ServiceNow Inc	Information Technology	2.1%
HubSpot Inc	Information Technology	2.0%
ON Semiconductor Corp	Information Technology	2.0%
MongoDB Inc	Information Technology	1.8%
Applied Materials Inc	Information Technology	1.8%
Tesla Inc	Consumer Discretionary	1.8%
Uber Technologies Inc	Industrials	1.7%
Dynatrace Inc	Information Technology	1.7%
Arista Networks Inc	Information Technology	1.7%
Intuitive Surgical Inc	Health Care	1.7%
Booking Holdings Inc	Consumer Discretionary	1.6%
Argenx SE	Health Care	1.6%
Cadence Design Systems Inc	Information Technology	1.5%
Advanced Micro Devices Inc	Information Technology	1.5%
Palo Alto Networks Inc	Information Technology	1.4%
Dexcom Inc	Health Care	1.4%
Vertex Pharmaceuticals Inc	Health Care	1.3%
Rockwell Automation Inc	Industrials	1.3%
Lattice Semiconductor Corp	Information Technology	1.3%
DoubleVerify Holdings Inc	Information Technology	1.3%
Monolithic Power Systems Inc	Information Technology	1.3%
Spotify Technology SA	Communication Services	1.2%
Eli Lilly & Co	Health Care	1.2%
Lululemon Athletica Inc	Consumer Discretionary	1.2%
Align Technology Inc	Health Care	1.1%
MercadoLibre Inc	Consumer Discretionary	1.1%
Old Dominion Freight Line Inc	Industrials	1.0%
Synopsys Inc	Information Technology	1.0%
Mastercard Inc	Financials	1.0%
TransDigm Group Inc	Industrials	1.0%
IDEXX Laboratories Inc	Health Care	0.9%
Visa Inc	Financials	0.9%
KLA Corp	Information Technology	0.8%
TransMedics Group Inc	Health Care	0.8%
Datadog Inc	Information Technology	0.8%
Axon Enterprise, Inc.	Industrials	0.8%
Parker-Hannifin Corp	Industrials	0.8%
Oracle Corp	Information Technology	0.7%
Chipotle Mexican Grill Inc	Consumer Discretionary	0.7%
Confluent Inc	Information Technology	0.7%
Shockwave Medical Inc	Health Care	0.6%
Toast Inc	Financials	0.6%
Deckers Outdoor Corp	Consumer Discretionary	0.5%
Karuna Therapeutics Inc	Health Care	0.5%
Inspire Medical Systems Inc	Health Care	0.5%

Sector Allocationas of 08/31/2023

Sector	Weighting	Fund Change from Previous Quarter

Sector	Weighting	Fund Change from Previous Quarter
Communication Services		0.8%
Real Estate		0.0%
Utilities		0.0%
Consumer Discretionary		1.0%
Consumer Staples		0.0%
Energy		0.0%
Financials		0.1%
Health Care		2.9%
Industrials		0.6%
Information Technology		1.9%
Materials		0.0%

Portfolio Positioning as of 03/31/2023

The Fund is designed and managed to provide investors with access to the most innovative, high-growth companies in their respective industries. Our investment research process is iterative and continuous and includes three primary components: 1) identifying innovators and superior businesses, 2) assessing and quantifying operating momentum, and 3) assessing and quantifying stock price momentum
Our positive view of the market was tested in March amid turmoil within the regional banking industry. In particular, the failure of Silicon Valley Bank was challenging given its outsized role financing innovation companies. While we work to better understand the medium-term implications, we believe there will likely be a bifurcation between companies that receive funding, and those that do not. Speculative business models with less tangible proof-of-concept products will likely come under pressure, while higher-quality, innovative companies with unique value propositions and strong management teams will continue to receive funding and potentially extend their market shares. This may, in turn, lead to a shortage in initial public offerings in the coming years, which could further solidify the competitive moats of these higher-quality businesses.
On the monetary front, we expect the Fed to pause its rate hiking cycle soon, although this remains contingent on inflation and labor reports moderating as the Fed clearly remains “data dependent.” We believe a Fed pause, not necessarily a cut, is enough of a positive catalyst for the markets as it removes the key headwind to growth stocks over the past year. Overall, we believe a neutral central bank and moderating inflation creates a strong backdrop for equities - particularly for quality market leaders within the growth sectors that our strategies specialize in. Lastly, from a technical standpoint, indices have largely tested and held key levels so we continue to lean positive, understanding the macro backdrop remains, at minimum, uncertain. We are especially encouraged by the Nasdaq Composite’s technical profile, as the most recent “flight to quality” trade resulted in mega-cap tech outperforming the broader market.
With an uncertain macro backdrop likely to persist, we remain focused on companies that possess quality business models (i.e., high moats, high margins, and great balance sheets), as well as both positive operating and price momentum. As such, over the quarter, we continued to add to our favorite growth names with idiosyncratic secular drivers that are less impacted by current macro headwinds – primarily within areas such as fintech, communication services, technology, and healthcare. We also reduced risk where prudent, cutting positions in companies that will require near-term funding, as well as positions in areas that are most vulnerable to the regional bank fallout and/or higher market volatility. Looking ahead, as interest rates and inflation potentially become secondary to fundamentals, we see increased opportunities for alpha generation. Many innovative companies faced dramatic valuation compression over the last two years and we believe many of these companies are now offering attractive risk/reward profiles. We also continue to expect communications services, consumer discretionary, small- and mid-cap health care, select industrials, and technology to lead the market higher.

Dividends & Cap Gains

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date	Ex-Dividend Date	Reinvest & Payable Date
11/20/2023	11/21/2023	11/21/2023

Capital Gains Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
11/22/2021	11/23/2021	$6.5143	$3.4867	$10.0010	$44.57

Fees & Expenses

EXPENSE RATIOas of 08/31/2023

Fund Gross Expense Ratio	Fund Net Expense Ratio
0.66%	0.66%

Fund Documents

0Documents selected
Portfolio Holdings 1Q Publish Date:11/03/2015
Portfolio Holdings 3Q Publish Date:11/03/2015
Summary Prospectus Publish Date:11/03/2015
Statutory Prospectus Publish Date:11/03/2015
SAI Publish Date:11/03/2015
Annual Report Publish Date:11/03/2015
Semi-Annual Report Publish Date:11/03/2015
Fact Sheet Publish Date:11/03/2015
Commentary Publish Date:11/03/2015

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IMPORTANT INFORMATION

A Note about Risk: The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies, including market, liquidity, currency, and political risks. Mid and small cap company stocks tend to be more volatile and may be less liquid than large cap company stocks. Mid and small cap companies also may have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large companies. However, larger companies may have slower rates of growth than smaller successful companies. Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general. The Fund engages in active and frequent trading of its securities, which may result in increased transaction fees, reduced investment performance, and higher taxes. These factors can adversely affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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Summary

Summary

What is the Growth Leaders Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of U.S. companies.

Fund Basicsas of 08/31/2023

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

TEN LARGEST HOLDINGS as of 08/31/2023View Portfolio

Sector Allocationas of 08/31/2023View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

Fund Expense Ratio :

Gross 0.66%

Net 0.66%

NAV HISTORICAL PRICES

Portfolio

Portfolio

Sector Allocationas of 08/31/2023

Portfolio Positioning as of 03/31/2023

Dividends & Cap Gains

Dividends & Cap Gains

Upcoming Dividend Payment Dates

Capital Gains Distributions

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 08/31/2023

Fund Documents

Fund Documents

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