# EDGAR Filing Document

**Accession Number:** 0000898031
**File Stem:** 0000930413-26-000007
**Filing Date:** 2026-1
**Character Count:** 1827458
**Document Hash:** 2cb584f3a790330768a1e971a081e308
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000930413-26-000007.hdr.sgml**: 20260105

**ACCESSION NUMBER**: 0000930413-26-000007

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 143

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20260105

**DATE AS OF CHANGE**: 20260105

**EFFECTIVENESS DATE**: 20260105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LORD ABBETT SECURITIES TRUST
- **CENTRAL INDEX KEY:** 0000898031

**ORGANIZATION NAME:**
- **EIN:** 133712440
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07538
- **FILM NUMBER:** 26507091

**BUSINESS ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 201-827-2000

**MAIL ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

## Series and Classes Contracts Data

### Lord Abbett Fundamental Equity Fund (Series ID: S000007138)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019515 | Class A      | LDFVX           |
| C000019517 | Class C      | GILAX           |
| C000019518 | Class P      | LAVPX           |
| C000019519 | Class I      | LAVYX           |
| C000054922 | Class F      | LAVFX           |
| C000054923 | Class R2     | LAVQX           |
| C000054924 | Class R3     | LAVRX           |
| C000155667 | Class R4     | LAVSX           |
| C000155668 | Class R5     | LAVTX           |
| C000155669 | Class R6     | LAVVX           |
| C000184529 | Class F3     | LDFOX           |

### Lord Abbett Alpha Strategy Fund (Series ID: S000007139)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019521 | Class I      | ALFYX           |
| C000019522 | Class A      | ALFAX           |
| C000019524 | Class C      | ALFCX           |
| C000054925 | Class F      | ALFFX           |
| C000054926 | Class R2     | ALFQX           |
| C000054927 | Class R3     | ALFRX           |
| C000155670 | Class R4     | ALFKX           |
| C000155671 | Class R5     | ALFTX           |
| C000155672 | Class R6     | ALFVX           |
| C000184531 | Class F3     | ALFOX           |

### Lord Abbett International Equity Fund (Series ID: S000007140)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019525 | Class A      | LICAX           |
| C000019527 | Class C      | LICCX           |
| C000019528 | Class P      | LICPX           |
| C000019529 | Class I      | LICYX           |
| C000054928 | Class F      | LICFX           |
| C000054929 | Class R2     | LICQX           |
| C000054930 | Class R3     | LICRX           |
| C000155673 | Class R4     | LICSX           |
| C000155674 | Class R5     | LICTX           |
| C000155675 | Class R6     | LICVX           |
| C000184533 | Class F3     | LICOX           |

### Lord Abbett Micro-Cap Growth Fund (Series ID: S000007142)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019535 | Class A      | LAMGX           |
| C000019536 | Class I      | LMIYX           |
| C000221454 | Class C      | LCMGX           |
| C000221457 | Class F      | LFMGX           |

### Lord Abbett Focused Small Cap Value Fund (Series ID: S000007143)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019537 | Class A      | LFVAX           |
| C000019538 | Class I      | LMVYX           |
| C000212759 | Class R6     | LMVWX           |
| C000212760 | Class R5     | LMVVX           |
| C000212762 | Class C      | LFVCX           |
| C000212764 | Class F3     | LMVOX           |
| C000212765 | Class F      | LFSFX           |

### Lord Abbett Value Opportunities Fund (Series ID: S000007144)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019539 | Class A      | LVOAX           |
| C000019541 | Class C      | LVOCX           |
| C000019542 | Class P      | LVOPX           |
| C000019543 | Class I      | LVOYX           |
| C000054934 | Class F      | LVOFX           |
| C000054935 | Class R2     | LVOQX           |
| C000054936 | Class R3     | LVORX           |
| C000155676 | Class R4     | LVOSX           |
| C000155677 | Class R5     | LVOTX           |
| C000155678 | Class R6     | LVOVX           |
| C000184535 | Class F3     | LVOOX           |

### Lord Abbett International Opportunities Fund (Series ID: S000007183)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019658 | Class A      | LAIEX           |
| C000019660 | Class C      | LINCX           |
| C000019661 | Class P      | LINPX           |
| C000019662 | Class I      | LINYX           |
| C000054937 | Class F      | LINFX           |
| C000054938 | Class R2     | LINQX           |
| C000054939 | Class R3     | LINRX           |
| C000155679 | Class R4     | LINSX           |
| C000155680 | Class R5     | LINTX           |
| C000155681 | Class R6     | LINVX           |
| C000184538 | Class F3     | LOIEX           |

### Lord Abbett International Value Fund (Series ID: S000022492)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000065058 | Class A      | LIDAX           |
| C000065060 | Class C      | LIDCX           |
| C000065061 | Class F      | LIDFX           |
| C000065062 | Class I      | LAIDX           |
| C000065063 | Class R2     | LIDRX           |
| C000065064 | Class R3     | LIRRX           |
| C000155682 | Class R4     | LIRSX           |
| C000155683 | Class R5     | LIRTX           |
| C000155684 | Class R6     | LIRVX           |
| C000184539 | Class F3     | LIDOX           |

### Lord Abbett Growth Leaders Fund (Series ID: S000032915)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000101588 | Class A      | LGLAX           |
| C000101589 | Class C      | LGLCX           |
| C000101590 | Class F      | LGLFX           |
| C000101591 | Class I      | LGLIX           |
| C000101592 | Class R2     | LGLQX           |
| C000101593 | Class R3     | LGLRX           |
| C000155685 | Class R4     | LGLSX           |
| C000155686 | Class R5     | LGLUX           |
| C000155687 | Class R6     | LGLVX           |
| C000184541 | Class F3     | LGLOX           |

### Lord Abbett Global Equity Fund (Series ID: S000055621)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000175097 | Class A      | LGCAX           |
| C000175098 | Class C      | LGCCX           |
| C000175099 | Class F      | LGCFX           |
| C000175100 | Class I      | LGCYX           |
| C000175102 | Class R3     | LGCRX           |
| C000175103 | Class R4     | LGCSX           |
| C000175104 | Class R5     | LGCVX           |
| C000175105 | Class R6     | LGCWX           |
| C000184543 | Class F3     | LGCOX           |

### Lord Abbett Focused Growth Fund (Series ID: S000064461)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000208648 | Class C      | LFGCX           |
| C000208649 | Class F      | LFGFX           |
| C000208650 | Class F3     | LFGOX           |
| C000208651 | Class I      | LFGIX           |
| C000208652 | Class A      | LFGAX           |
| C000208653 | Class R3     | LFGQX           |
| C000208654 | Class R4     | LFGSX           |
| C000208655 | Class R5     | LFGTX           |
| C000208656 | Class R6     | LFGVX           |

### Lord Abbett Health Care Fund (Series ID: S000064462)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000208658 | Class A      | LHCAX           |
| C000208659 | Class C      | LHCCX           |
| C000208660 | Class F      | LHCFX           |
| C000208661 | Class F3     | LHCOX           |
| C000208662 | Class I      | LHCIX           |
| C000208664 | Class R3     | LHCQX           |
| C000208665 | Class R4     | LHCSX           |
| C000208666 | Class R6     | LHCVX           |
| C000208667 | Class R5     | LHCTX           |

### Lord Abbett Focused Large Cap Value Fund (Series ID: S000064833)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209875 | Class C      | LCFLX           |
| C000209876 | Class F      | LFFLX           |
| C000209877 | Class F3     | LOFLX           |
| C000209878 | Class I      | LIFLX           |
| C000209879 | Class A      | LAFLX           |
| C000209880 | Class R3     | LQFLX           |
| C000209881 | Class R4     | LSFLX           |
| C000209882 | Class R5     | LFLTX           |
| C000209883 | Class R6     | LVFLX           |

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act File Number: 811-07538

**LORD ABBETT SECURITIES TRUST**

(Exact name of Registrant as specified in charter)

<u>30 Hudson Street, Jersey City, New Jersey 07302-4804</u>

(Address of principal executive offices) (Zip code)

Randolph A. Stuzin, Esq.

Vice President and Assistant Secretary

<u>30 Hudson Street, Jersey City, New Jersey 07302-4804</u>

(Name and address of agent for service)

Registrant's telephone number, including area code: (888) 522-2388

Date of fiscal year end: 10/31

Date of reporting period: 10/31/2025

---

| | |
|:---|:---|
| **Item 1:** | **Report(s) to Shareholders.** |

---

![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LGCAX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $100 | 0.90% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 21.60%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9afa9271bbfe0962370c30d9.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A with load** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $9425 | $10000 | $10000 |
| **1/31/2017** | $9463 | $10050 | $10049 |
| **2/28/2017** | $9632 | $10336 | $10331 |
| **3/31/2017** | $9717 | $10469 | $10457 |
| **4/30/2017** | $9934 | $10637 | $10620 |
| **5/31/2017** | $10160 | $10882 | $10855 |
| **6/30/2017** | $10170 | $10936 | $10904 |
| **7/31/2017** | $10434 | $11245 | $11209 |
| **8/31/2017** | $10518 | $11294 | $11252 |
| **9/30/2017** | $10688 | $11516 | $11469 |
| **10/31/2017** | $10914 | $11758 | $11707 |
| **11/30/2017** | $11140 | $11991 | $11934 |
| **12/31/2017** | $11239 | $12188 | $12126 |
| **1/31/2018** | $11986 | $12879 | $12811 |
| **2/28/2018** | $11498 | $12343 | $12272 |
| **3/31/2018** | $11398 | $12086 | $12010 |
| **4/30/2018** | $11458 | $12208 | $12125 |
| **5/31/2018** | $11468 | $12234 | $12140 |
| **6/30/2018** | $11368 | $12172 | $12074 |
| **7/31/2018** | $11647 | $12543 | $12438 |
| **8/31/2018** | $11807 | $12648 | $12536 |
| **9/30/2018** | $11876 | $12708 | $12591 |
| **10/31/2018** | $10890 | $11758 | $11647 |
| **11/30/2018** | $11000 | $11936 | $11817 |
| **12/31/2018** | $10175 | $11100 | $10985 |
| **1/31/2019** | $10992 | $11980 | $11852 |
| **2/28/2019** | $11338 | $12306 | $12169 |
| **3/31/2019** | $11485 | $12468 | $12322 |
| **4/30/2019** | $11820 | $12896 | $12738 |
| **5/31/2019** | $11097 | $12142 | $11983 |
| **6/30/2019** | $11768 | $12942 | $12767 |
| **7/31/2019** | $11768 | $12985 | $12805 |
| **8/31/2019** | $11537 | $12683 | $12501 |
| **9/30/2019** | $11757 | $12955 | $12764 |
| **10/31/2019** | $12071 | $13313 | $13113 |
| **11/30/2019** | $12417 | $13644 | $13433 |
| **12/31/2019** | $12843 | $14130 | $13906 |
| **1/31/2020** | $12663 | $13977 | $13753 |
| **2/29/2020** | $11900 | $12854 | $12642 |
| **3/31/2020** | $10045 | $11126 | $10935 |
| **4/30/2020** | $11137 | $12324 | $12107 |
| **5/31/2020** | $11709 | $12867 | $12633 |
| **6/30/2020** | $12239 | $13284 | $13037 |
| **7/31/2020** | $12981 | $13992 | $13726 |
| **8/31/2020** | $13701 | $14854 | $14567 |
| **9/30/2020** | $13362 | $14380 | $14097 |
| **10/31/2020** | $13341 | $14034 | $13754 |
| **11/30/2020** | $15057 | $15769 | $15449 |
| **12/31/2020** | $15870 | $16507 | $16167 |
| **1/31/2021** | $15659 | $16436 | $16093 |
| **2/28/2021** | $16459 | $16822 | $16466 |
| **3/31/2021** | $16615 | $17280 | $16906 |
| **4/30/2021** | $17493 | $18043 | $17645 |
| **5/31/2021** | $17737 | $18333 | $17920 |
| **6/30/2021** | $17837 | $18581 | $18156 |
| **7/31/2021** | $17826 | $18714 | $18281 |
| **8/31/2021** | $18282 | $19188 | $18738 |
| **9/30/2021** | $17337 | $18404 | $17965 |
| **10/31/2021** | $18460 | $19348 | $18881 |
| **11/30/2021** | $18026 | $18888 | $18427 |
| **12/31/2021** | $18712 | $19650 | $19164 |
| **1/31/2022** | $17599 | $18688 | $18223 |
| **2/28/2022** | $17017 | $18211 | $17752 |
| **3/31/2022** | $17392 | $18616 | $18137 |
| **4/30/2022** | $15904 | $17133 | $16685 |
| **5/31/2022** | $15930 | $17165 | $16705 |
| **6/30/2022** | $14675 | $15725 | $15296 |
| **7/31/2022** | $15813 | $16829 | $16364 |
| **8/31/2022** | $15231 | $16216 | $15762 |
| **9/30/2022** | $14002 | $14671 | $14253 |
| **10/31/2022** | $14713 | $15560 | $15113 |
| **11/30/2022** | $15878 | $16774 | $16285 |
| **12/31/2022** | $15152 | $16120 | $15645 |
| **1/31/2023** | $16285 | $17280 | $16766 |
| **2/28/2023** | $15712 | $16791 | $16285 |
| **3/31/2023** | $16181 | $17320 | $16787 |
| **4/30/2023** | $16351 | $17577 | $17029 |
| **5/31/2023** | $16090 | $17401 | $16846 |
| **6/30/2023** | $17054 | $18419 | $17825 |
| **7/31/2023** | $17784 | $19099 | $18477 |
| **8/31/2023** | $17289 | $18573 | $17961 |
| **9/30/2023** | $16507 | $17812 | $17218 |
| **10/31/2023** | $16181 | $17280 | $16700 |
| **11/30/2023** | $17797 | $18883 | $18242 |
| **12/31/2023** | $18669 | $19797 | $19118 |
| **1/31/2024** | $19037 | $19917 | $19230 |
| **2/29/2024** | $19996 | $20779 | $20055 |
| **3/31/2024** | $20679 | $21443 | $20685 |
| **4/30/2024** | $19786 | $20745 | $20002 |
| **5/31/2024** | $20876 | $21601 | $20815 |
| **6/30/2024** | $21152 | $22089 | $21278 |
| **7/31/2024** | $21533 | $22452 | $21622 |
| **8/31/2024** | $21875 | $23030 | $22171 |
| **9/30/2024** | $22085 | $23573 | $22686 |
| **10/31/2024** | $21783 | $23052 | $22177 |
| **11/30/2024** | $22466 | $23922 | $23006 |
| **12/31/2024** | $21950 | $23363 | $22461 |
| **1/31/2025** | $22729 | $24153 | $23216 |
| **2/28/2025** | $22333 | $24014 | $23076 |
| **3/31/2025** | $21541 | $23078 | $22164 |
| **4/30/2025** | $22135 | $23304 | $22371 |
| **5/31/2025** | $23810 | $24659 | $23656 |
| **6/30/2025** | $24945 | $25776 | $24718 |
| **7/31/2025** | $24997 | $26133 | $25054 |
| **8/31/2025** | $25710 | $26790 | $25673 |
| **9/30/2025** | $26171 | $27771 | $26603 |
| **10/31/2025** | $26488 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class A at NAV | 21.60% | 14.70% | 12.48% |
| Class A with sales charge | 14.62% | 13.35% | 11.73% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LGCAX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8810-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LGCCX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $182 | 1.65% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 20.71%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i016fbd7ccebac44987632af1.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C with load** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $10000 | $10000 | $10000 |
| **1/31/2017** | $10040 | $10050 | $10049 |
| **2/28/2017** | $10210 | $10336 | $10331 |
| **3/31/2017** | $10300 | $10469 | $10457 |
| **4/30/2017** | $10520 | $10637 | $10620 |
| **5/31/2017** | $10750 | $10882 | $10855 |
| **6/30/2017** | $10760 | $10936 | $10904 |
| **7/31/2017** | $11030 | $11245 | $11209 |
| **8/31/2017** | $11110 | $11294 | $11252 |
| **9/30/2017** | $11280 | $11516 | $11469 |
| **10/31/2017** | $11520 | $11758 | $11707 |
| **11/30/2017** | $11740 | $11991 | $11934 |
| **12/31/2017** | $11840 | $12188 | $12126 |
| **1/31/2018** | $12620 | $12879 | $12811 |
| **2/28/2018** | $12093 | $12343 | $12272 |
| **3/31/2018** | $11987 | $12086 | $12010 |
| **4/30/2018** | $12050 | $12208 | $12125 |
| **5/31/2018** | $12050 | $12234 | $12140 |
| **6/30/2018** | $11934 | $12172 | $12074 |
| **7/31/2018** | $12219 | $12543 | $12438 |
| **8/31/2018** | $12377 | $12648 | $12536 |
| **9/30/2018** | $12440 | $12708 | $12591 |
| **10/31/2018** | $11397 | $11758 | $11647 |
| **11/30/2018** | $11502 | $11936 | $11817 |
| **12/31/2018** | $10637 | $11100 | $10985 |
| **1/31/2019** | $11496 | $11980 | $11852 |
| **2/28/2019** | $11837 | $12306 | $12169 |
| **3/31/2019** | $11991 | $12468 | $12322 |
| **4/30/2019** | $12332 | $12896 | $12738 |
| **5/31/2019** | $11573 | $12142 | $11983 |
| **6/30/2019** | $12255 | $12942 | $12767 |
| **7/31/2019** | $12255 | $12985 | $12805 |
| **8/31/2019** | $12013 | $12683 | $12501 |
| **9/30/2019** | $12222 | $12955 | $12764 |
| **10/31/2019** | $12542 | $13313 | $13113 |
| **11/30/2019** | $12894 | $13644 | $13433 |
| **12/31/2019** | $13334 | $14130 | $13906 |
| **1/31/2020** | $13135 | $13977 | $13753 |
| **2/29/2020** | $12340 | $12854 | $12642 |
| **3/31/2020** | $10406 | $11126 | $10935 |
| **4/30/2020** | $11533 | $12324 | $12107 |
| **5/31/2020** | $12119 | $12867 | $12633 |
| **6/30/2020** | $12660 | $13284 | $13037 |
| **7/31/2020** | $13411 | $13992 | $13726 |
| **8/31/2020** | $14151 | $14854 | $14567 |
| **9/30/2020** | $13798 | $14380 | $14097 |
| **10/31/2020** | $13765 | $14034 | $13754 |
| **11/30/2020** | $15521 | $15769 | $15449 |
| **12/31/2020** | $16350 | $16507 | $16167 |
| **1/31/2021** | $16131 | $16436 | $16093 |
| **2/28/2021** | $16937 | $16822 | $16466 |
| **3/31/2021** | $17087 | $17280 | $16906 |
| **4/30/2021** | $17985 | $18043 | $17645 |
| **5/31/2021** | $18215 | $18333 | $17920 |
| **6/30/2021** | $18308 | $18581 | $18156 |
| **7/31/2021** | $18285 | $18714 | $18281 |
| **8/31/2021** | $18745 | $19188 | $18738 |
| **9/30/2021** | $17766 | $18404 | $17965 |
| **10/31/2021** | $18895 | $19348 | $18881 |
| **11/30/2021** | $18457 | $18888 | $18427 |
| **12/31/2021** | $19136 | $19650 | $19164 |
| **1/31/2022** | $17990 | $18688 | $18223 |
| **2/28/2022** | $17377 | $18211 | $17752 |
| **3/31/2022** | $17750 | $18616 | $18137 |
| **4/30/2022** | $16217 | $17133 | $16685 |
| **5/31/2022** | $16244 | $17165 | $16705 |
| **6/30/2022** | $14951 | $15725 | $15296 |
| **7/31/2022** | $16097 | $16829 | $16364 |
| **8/31/2022** | $15498 | $16216 | $15762 |
| **9/30/2022** | $14232 | $14671 | $14253 |
| **10/31/2022** | $14951 | $15560 | $15113 |
| **11/30/2022** | $16124 | $16774 | $16285 |
| **12/31/2022** | $15364 | $16120 | $15645 |
| **1/31/2023** | $16510 | $17280 | $16766 |
| **2/28/2023** | $15924 | $16791 | $16285 |
| **3/31/2023** | $16391 | $17320 | $16787 |
| **4/30/2023** | $16550 | $17577 | $17029 |
| **5/31/2023** | $16271 | $17401 | $16846 |
| **6/30/2023** | $17230 | $18419 | $17825 |
| **7/31/2023** | $17963 | $19099 | $18477 |
| **8/31/2023** | $17457 | $18573 | $17961 |
| **9/30/2023** | $16657 | $17812 | $17218 |
| **10/31/2023** | $16311 | $17280 | $16700 |
| **11/30/2023** | $17936 | $18883 | $18242 |
| **12/31/2023** | $18803 | $19797 | $19118 |
| **1/31/2024** | $19163 | $19917 | $19230 |
| **2/29/2024** | $20112 | $20779 | $20055 |
| **3/31/2024** | $20779 | $21443 | $20685 |
| **4/30/2024** | $19871 | $20745 | $20002 |
| **5/31/2024** | $20953 | $21601 | $20815 |
| **6/30/2024** | $21220 | $22089 | $21278 |
| **7/31/2024** | $21594 | $22452 | $21622 |
| **8/31/2024** | $21914 | $23030 | $22171 |
| **9/30/2024** | $22115 | $23573 | $22686 |
| **10/31/2024** | $21794 | $23052 | $22177 |
| **11/30/2024** | $22475 | $23922 | $23006 |
| **12/31/2024** | $21928 | $23363 | $22461 |
| **1/31/2025** | $22702 | $24153 | $23216 |
| **2/28/2025** | $22302 | $24014 | $23076 |
| **3/31/2025** | $21487 | $23078 | $22164 |
| **4/30/2025** | $22061 | $23304 | $22371 |
| **5/31/2025** | $23717 | $24659 | $23656 |
| **6/30/2025** | $24839 | $25776 | $24718 |
| **7/31/2025** | $24879 | $26133 | $25054 |
| **8/31/2025** | $25560 | $26790 | $25673 |
| **9/30/2025** | $26001 | $27771 | $26603 |
| **10/31/2025** | $26308 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class C at NAV | 20.71% | 13.83% | 11.64% |
| Class C with sales charge | 19.71% | 13.83% | 11.64% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LGCCX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8811-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LGCFX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $83 | 0.75% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 21.69%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ib664c97618e5daa26fd1b78e.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $10000 | $10000 | $10000 |
| **1/31/2017** | $10040 | $10050 | $10049 |
| **2/28/2017** | $10220 | $10336 | $10331 |
| **3/31/2017** | $10320 | $10469 | $10457 |
| **4/30/2017** | $10550 | $10637 | $10620 |
| **5/31/2017** | $10790 | $10882 | $10855 |
| **6/30/2017** | $10800 | $10936 | $10904 |
| **7/31/2017** | $11080 | $11245 | $11209 |
| **8/31/2017** | $11170 | $11294 | $11252 |
| **9/30/2017** | $11350 | $11516 | $11469 |
| **10/31/2017** | $11600 | $11758 | $11707 |
| **11/30/2017** | $11830 | $11991 | $11934 |
| **12/31/2017** | $11949 | $12188 | $12126 |
| **1/31/2018** | $12742 | $12879 | $12811 |
| **2/28/2018** | $12213 | $12343 | $12272 |
| **3/31/2018** | $12118 | $12086 | $12010 |
| **4/30/2018** | $12181 | $12208 | $12125 |
| **5/31/2018** | $12192 | $12234 | $12140 |
| **6/30/2018** | $12086 | $12172 | $12074 |
| **7/31/2018** | $12382 | $12543 | $12438 |
| **8/31/2018** | $12562 | $12648 | $12536 |
| **9/30/2018** | $12636 | $12708 | $12591 |
| **10/31/2018** | $11578 | $11758 | $11647 |
| **11/30/2018** | $11695 | $11936 | $11817 |
| **12/31/2018** | $10832 | $11100 | $10985 |
| **1/31/2019** | $11701 | $11980 | $11852 |
| **2/28/2019** | $12069 | $12306 | $12169 |
| **3/31/2019** | $12225 | $12468 | $12322 |
| **4/30/2019** | $12592 | $12896 | $12738 |
| **5/31/2019** | $11812 | $12142 | $11983 |
| **6/30/2019** | $12525 | $12942 | $12767 |
| **7/31/2019** | $12525 | $12985 | $12805 |
| **8/31/2019** | $12291 | $12683 | $12501 |
| **9/30/2019** | $12525 | $12955 | $12764 |
| **10/31/2019** | $12860 | $13313 | $13113 |
| **11/30/2019** | $13227 | $13644 | $13433 |
| **12/31/2019** | $13698 | $14130 | $13906 |
| **1/31/2020** | $13495 | $13977 | $13753 |
| **2/29/2020** | $12694 | $12854 | $12642 |
| **3/31/2020** | $10708 | $11126 | $10935 |
| **4/30/2020** | $11881 | $12324 | $12107 |
| **5/31/2020** | $12491 | $12867 | $12633 |
| **6/30/2020** | $13055 | $13284 | $13037 |
| **7/31/2020** | $13845 | $13992 | $13726 |
| **8/31/2020** | $14623 | $14854 | $14567 |
| **9/30/2020** | $14262 | $14380 | $14097 |
| **10/31/2020** | $14240 | $14034 | $13754 |
| **11/30/2020** | $16068 | $15769 | $15449 |
| **12/31/2020** | $16937 | $16507 | $16167 |
| **1/31/2021** | $16724 | $16436 | $16093 |
| **2/28/2021** | $17577 | $16822 | $16466 |
| **3/31/2021** | $17743 | $17280 | $16906 |
| **4/30/2021** | $18691 | $18043 | $17645 |
| **5/31/2021** | $18952 | $18333 | $17920 |
| **6/30/2021** | $19058 | $18581 | $18156 |
| **7/31/2021** | $19047 | $18714 | $18281 |
| **8/31/2021** | $19544 | $19188 | $18738 |
| **9/30/2021** | $18537 | $18404 | $17965 |
| **10/31/2021** | $19734 | $19348 | $18881 |
| **11/30/2021** | $19284 | $18888 | $18427 |
| **12/31/2021** | $20004 | $19650 | $19164 |
| **1/31/2022** | $18816 | $18688 | $18223 |
| **2/28/2022** | $18195 | $18211 | $17752 |
| **3/31/2022** | $18595 | $18616 | $18137 |
| **4/30/2022** | $17006 | $17133 | $16685 |
| **5/31/2022** | $17034 | $17165 | $16705 |
| **6/30/2022** | $15694 | $15725 | $15296 |
| **7/31/2022** | $16924 | $16829 | $16364 |
| **8/31/2022** | $16302 | $16216 | $15762 |
| **9/30/2022** | $14976 | $14671 | $14253 |
| **10/31/2022** | $15735 | $15560 | $15113 |
| **11/30/2022** | $16993 | $16774 | $16285 |
| **12/31/2022** | $16207 | $16120 | $15645 |
| **1/31/2023** | $17432 | $17280 | $16766 |
| **2/28/2023** | $16819 | $16791 | $16285 |
| **3/31/2023** | $17321 | $17320 | $16787 |
| **4/30/2023** | $17502 | $17577 | $17029 |
| **5/31/2023** | $17223 | $17401 | $16846 |
| **6/30/2023** | $18254 | $18419 | $17825 |
| **7/31/2023** | $19047 | $19099 | $18477 |
| **8/31/2023** | $18532 | $18573 | $17961 |
| **9/30/2023** | $17683 | $17812 | $17218 |
| **10/31/2023** | $17335 | $17280 | $16700 |
| **11/30/2023** | $19075 | $18883 | $18242 |
| **12/31/2023** | $20014 | $19797 | $19118 |
| **1/31/2024** | $20407 | $19917 | $19230 |
| **2/29/2024** | $21447 | $20779 | $20055 |
| **3/31/2024** | $22164 | $21443 | $20685 |
| **4/30/2024** | $21223 | $20745 | $20002 |
| **5/31/2024** | $22389 | $21601 | $20815 |
| **6/30/2024** | $22698 | $22089 | $21278 |
| **7/31/2024** | $23092 | $22452 | $21622 |
| **8/31/2024** | $23457 | $23030 | $22171 |
| **9/30/2024** | $23696 | $23573 | $22686 |
| **10/31/2024** | $23373 | $23052 | $22177 |
| **11/30/2024** | $24118 | $23922 | $23006 |
| **12/31/2024** | $23554 | $23363 | $22461 |
| **1/31/2025** | $24402 | $24153 | $23216 |
| **2/28/2025** | $23978 | $24014 | $23076 |
| **3/31/2025** | $23116 | $23078 | $22164 |
| **4/30/2025** | $23766 | $23304 | $22371 |
| **5/31/2025** | $25546 | $24659 | $23656 |
| **6/30/2025** | $26775 | $25776 | $24718 |
| **7/31/2025** | $26832 | $26133 | $25054 |
| **8/31/2025** | $27595 | $26790 | $25673 |
| **9/30/2025** | $28089 | $27771 | $26603 |
| **10/31/2025** | $28443 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class F at NAV | 21.69% | 14.84% | 12.64% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LGCFX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8812-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LGCOX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $57 | 0.51% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 22.14%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i96f423a716991d1fd94eec14.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F3** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **4/4/2017** | $10000 | $10000 | $10000 |
| **4/30/2017** | $10272 | $10169 | $10165 |
| **5/31/2017** | $10506 | $10403 | $10389 |
| **6/30/2017** | $10516 | $10454 | $10437 |
| **7/31/2017** | $10798 | $10750 | $10728 |
| **8/31/2017** | $10875 | $10797 | $10769 |
| **9/30/2017** | $11051 | $11009 | $10977 |
| **10/31/2017** | $11294 | $11240 | $11205 |
| **11/30/2017** | $11527 | $11463 | $11422 |
| **12/31/2017** | $11635 | $11652 | $11606 |
| **1/31/2018** | $12418 | $12312 | $12261 |
| **2/28/2018** | $11913 | $11799 | $11746 |
| **3/31/2018** | $11810 | $11554 | $11495 |
| **4/30/2018** | $11882 | $11671 | $11604 |
| **5/31/2018** | $11892 | $11695 | $11619 |
| **6/30/2018** | $11789 | $11637 | $11556 |
| **7/31/2018** | $12078 | $11991 | $11904 |
| **8/31/2018** | $12253 | $12091 | $11998 |
| **9/30/2018** | $12325 | $12148 | $12050 |
| **10/31/2018** | $11295 | $11241 | $11147 |
| **11/30/2018** | $11418 | $11410 | $11310 |
| **12/31/2018** | $10563 | $10611 | $10513 |
| **1/31/2019** | $11421 | $11453 | $11344 |
| **2/28/2019** | $11780 | $11764 | $11647 |
| **3/31/2019** | $11932 | $11919 | $11793 |
| **4/30/2019** | $12290 | $12328 | $12192 |
| **5/31/2019** | $11541 | $11607 | $11469 |
| **6/30/2019** | $12236 | $12372 | $12220 |
| **7/31/2019** | $12236 | $12413 | $12255 |
| **8/31/2019** | $12008 | $12124 | $11965 |
| **9/30/2019** | $12225 | $12385 | $12216 |
| **10/31/2019** | $12562 | $12727 | $12551 |
| **11/30/2019** | $12921 | $13043 | $12857 |
| **12/31/2019** | $13376 | $13508 | $13310 |
| **1/31/2020** | $13189 | $13362 | $13163 |
| **2/29/2020** | $12395 | $12288 | $12100 |
| **3/31/2020** | $10467 | $10636 | $10466 |
| **4/30/2020** | $11613 | $11781 | $11587 |
| **5/31/2020** | $12208 | $12301 | $12091 |
| **6/30/2020** | $12759 | $12699 | $12477 |
| **7/31/2020** | $13530 | $13376 | $13138 |
| **8/31/2020** | $14290 | $14200 | $13942 |
| **9/30/2020** | $13938 | $13747 | $13492 |
| **10/31/2020** | $13916 | $13416 | $13164 |
| **11/30/2020** | $15712 | $15075 | $14787 |
| **12/31/2020** | $16571 | $15780 | $15473 |
| **1/31/2021** | $16350 | $15712 | $15403 |
| **2/28/2021** | $17196 | $16081 | $15760 |
| **3/31/2021** | $17370 | $16519 | $16181 |
| **4/30/2021** | $18286 | $17248 | $16888 |
| **5/31/2021** | $18552 | $17526 | $17151 |
| **6/30/2021** | $18656 | $17763 | $17377 |
| **7/31/2021** | $18645 | $17890 | $17497 |
| **8/31/2021** | $19131 | $18344 | $17935 |
| **9/30/2021** | $18158 | $17594 | $17194 |
| **10/31/2021** | $19328 | $18496 | $18071 |
| **11/30/2021** | $18888 | $18056 | $17636 |
| **12/31/2021** | $19586 | $18785 | $18342 |
| **1/31/2022** | $18423 | $17865 | $17441 |
| **2/28/2022** | $17814 | $17409 | $16990 |
| **3/31/2022** | $18220 | $17797 | $17358 |
| **4/30/2022** | $16664 | $16379 | $15969 |
| **5/31/2022** | $16705 | $16410 | $15988 |
| **6/30/2022** | $15379 | $15033 | $14640 |
| **7/31/2022** | $16583 | $16088 | $15662 |
| **8/31/2022** | $15974 | $15502 | $15086 |
| **9/30/2022** | $14689 | $14025 | $13642 |
| **10/31/2022** | $15433 | $14875 | $14465 |
| **11/30/2022** | $16664 | $16035 | $15587 |
| **12/31/2022** | $15902 | $15411 | $14973 |
| **1/31/2023** | $17104 | $16519 | $16047 |
| **2/28/2023** | $16503 | $16051 | $15587 |
| **3/31/2023** | $17008 | $16558 | $16067 |
| **4/30/2023** | $17186 | $16803 | $16298 |
| **5/31/2023** | $16912 | $16635 | $16124 |
| **6/30/2023** | $17923 | $17609 | $17060 |
| **7/31/2023** | $18716 | $18258 | $17684 |
| **8/31/2023** | $18197 | $17756 | $17190 |
| **9/30/2023** | $17377 | $17028 | $16479 |
| **10/31/2023** | $17035 | $16519 | $15984 |
| **11/30/2023** | $18743 | $18052 | $17459 |
| **12/31/2023** | $19667 | $18925 | $18298 |
| **1/31/2024** | $20067 | $19040 | $18405 |
| **2/29/2024** | $21075 | $19865 | $19195 |
| **3/31/2024** | $21794 | $20499 | $19798 |
| **4/30/2024** | $20868 | $19832 | $19144 |
| **5/31/2024** | $22014 | $20650 | $19922 |
| **6/30/2024** | $22318 | $21117 | $20365 |
| **7/31/2024** | $22733 | $21463 | $20694 |
| **8/31/2024** | $23092 | $22016 | $21220 |
| **9/30/2024** | $23327 | $22536 | $21712 |
| **10/31/2024** | $23009 | $22037 | $21225 |
| **11/30/2024** | $23755 | $22869 | $22019 |
| **12/31/2024** | $23212 | $22335 | $21498 |
| **1/31/2025** | $24046 | $23090 | $22220 |
| **2/28/2025** | $23642 | $22957 | $22086 |
| **3/31/2025** | $22809 | $22062 | $21213 |
| **4/30/2025** | $23434 | $22278 | $21411 |
| **5/31/2025** | $25213 | $23573 | $22642 |
| **6/30/2025** | $26436 | $24642 | $23658 |
| **7/31/2025** | $26506 | $24982 | $23979 |
| **8/31/2025** | $27256 | $25610 | $24571 |
| **9/30/2025** | $27757 | $26548 | $25462 |
| **10/31/2025** | $28104 | $27147 | $26031 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | 22.14% | 15.09% | 12.81% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.35% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 11.80% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LGCOX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8994-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LGCYX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $72 | 0.65% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 21.87%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i3646fa81fce505969830f8ae.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $10000 | $10000 | $10000 |
| **1/31/2017** | $10040 | $10050 | $10049 |
| **2/28/2017** | $10220 | $10336 | $10331 |
| **3/31/2017** | $10320 | $10469 | $10457 |
| **4/30/2017** | $10550 | $10637 | $10620 |
| **5/31/2017** | $10790 | $10882 | $10855 |
| **6/30/2017** | $10810 | $10936 | $10904 |
| **7/31/2017** | $11090 | $11245 | $11209 |
| **8/31/2017** | $11170 | $11294 | $11252 |
| **9/30/2017** | $11360 | $11516 | $11469 |
| **10/31/2017** | $11610 | $11758 | $11707 |
| **11/30/2017** | $11840 | $11991 | $11934 |
| **12/31/2017** | $11959 | $12188 | $12126 |
| **1/31/2018** | $12753 | $12879 | $12811 |
| **2/28/2018** | $12234 | $12343 | $12272 |
| **3/31/2018** | $12128 | $12086 | $12010 |
| **4/30/2018** | $12203 | $12208 | $12125 |
| **5/31/2018** | $12213 | $12234 | $12140 |
| **6/30/2018** | $12107 | $12172 | $12074 |
| **7/31/2018** | $12404 | $12543 | $12438 |
| **8/31/2018** | $12584 | $12648 | $12536 |
| **9/30/2018** | $12658 | $12708 | $12591 |
| **10/31/2018** | $11599 | $11758 | $11647 |
| **11/30/2018** | $11726 | $11936 | $11817 |
| **12/31/2018** | $10842 | $11100 | $10985 |
| **1/31/2019** | $11724 | $11980 | $11852 |
| **2/28/2019** | $12093 | $12306 | $12169 |
| **3/31/2019** | $12260 | $12468 | $12322 |
| **4/30/2019** | $12617 | $12896 | $12738 |
| **5/31/2019** | $11847 | $12142 | $11983 |
| **6/30/2019** | $12562 | $12942 | $12767 |
| **7/31/2019** | $12562 | $12985 | $12805 |
| **8/31/2019** | $12327 | $12683 | $12501 |
| **9/30/2019** | $12562 | $12955 | $12764 |
| **10/31/2019** | $12897 | $13313 | $13113 |
| **11/30/2019** | $13265 | $13644 | $13433 |
| **12/31/2019** | $13739 | $14130 | $13906 |
| **1/31/2020** | $13535 | $13977 | $13753 |
| **2/29/2020** | $12732 | $12854 | $12642 |
| **3/31/2020** | $10751 | $11126 | $10935 |
| **4/30/2020** | $11917 | $12324 | $12107 |
| **5/31/2020** | $12528 | $12867 | $12633 |
| **6/30/2020** | $13094 | $13284 | $13037 |
| **7/31/2020** | $13898 | $13992 | $13726 |
| **8/31/2020** | $14667 | $14854 | $14567 |
| **9/30/2020** | $14305 | $14380 | $14097 |
| **10/31/2020** | $14282 | $14034 | $13754 |
| **11/30/2020** | $16127 | $15769 | $15449 |
| **12/31/2020** | $17002 | $16507 | $16167 |
| **1/31/2021** | $16788 | $16436 | $16093 |
| **2/28/2021** | $17644 | $16822 | $16466 |
| **3/31/2021** | $17823 | $17280 | $16906 |
| **4/30/2021** | $18774 | $18043 | $17645 |
| **5/31/2021** | $19036 | $18333 | $17920 |
| **6/30/2021** | $19143 | $18581 | $18156 |
| **7/31/2021** | $19131 | $18714 | $18281 |
| **8/31/2021** | $19631 | $19188 | $18738 |
| **9/30/2021** | $18620 | $18404 | $17965 |
| **10/31/2021** | $19821 | $19348 | $18881 |
| **11/30/2021** | $19369 | $18888 | $18427 |
| **12/31/2021** | $20098 | $19650 | $19164 |
| **1/31/2022** | $18905 | $18688 | $18223 |
| **2/28/2022** | $18280 | $18211 | $17752 |
| **3/31/2022** | $18683 | $18616 | $18137 |
| **4/30/2022** | $17086 | $17133 | $16685 |
| **5/31/2022** | $17128 | $17165 | $16705 |
| **6/30/2022** | $15782 | $15725 | $15296 |
| **7/31/2022** | $17003 | $16829 | $16364 |
| **8/31/2022** | $16378 | $16216 | $15762 |
| **9/30/2022** | $15060 | $14671 | $14253 |
| **10/31/2022** | $15823 | $15560 | $15113 |
| **11/30/2022** | $17086 | $16774 | $16285 |
| **12/31/2022** | $16298 | $16120 | $15645 |
| **1/31/2023** | $17531 | $17280 | $16766 |
| **2/28/2023** | $16915 | $16791 | $16285 |
| **3/31/2023** | $17419 | $17320 | $16787 |
| **4/30/2023** | $17615 | $17577 | $17029 |
| **5/31/2023** | $17321 | $17401 | $16846 |
| **6/30/2023** | $18372 | $18419 | $17825 |
| **7/31/2023** | $19171 | $19099 | $18477 |
| **8/31/2023** | $18638 | $18573 | $17961 |
| **9/30/2023** | $17798 | $17812 | $17218 |
| **10/31/2023** | $17447 | $17280 | $16700 |
| **11/30/2023** | $19199 | $18883 | $18242 |
| **12/31/2023** | $20140 | $19797 | $19118 |
| **1/31/2024** | $20551 | $19917 | $19230 |
| **2/29/2024** | $21585 | $20779 | $20055 |
| **3/31/2024** | $22322 | $21443 | $20685 |
| **4/30/2024** | $21373 | $20745 | $20002 |
| **5/31/2024** | $22548 | $21601 | $20815 |
| **6/30/2024** | $22860 | $22089 | $21278 |
| **7/31/2024** | $23270 | $22452 | $21622 |
| **8/31/2024** | $23639 | $23030 | $22171 |
| **9/30/2024** | $23865 | $23573 | $22686 |
| **10/31/2024** | $23554 | $23052 | $22177 |
| **11/30/2024** | $24290 | $23922 | $23006 |
| **12/31/2024** | $23731 | $23363 | $22461 |
| **1/31/2025** | $24587 | $24153 | $23216 |
| **2/28/2025** | $24173 | $24014 | $23076 |
| **3/31/2025** | $23304 | $23078 | $22164 |
| **4/30/2025** | $23960 | $23304 | $22371 |
| **5/31/2025** | $25770 | $24659 | $23656 |
| **6/30/2025** | $27010 | $25776 | $24718 |
| **7/31/2025** | $27081 | $26133 | $25054 |
| **8/31/2025** | $27851 | $26790 | $25673 |
| **9/30/2025** | $28350 | $27771 | $26603 |
| **10/31/2025** | $28706 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class I at NAV | 21.87% | 14.98% | 12.76% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LGCYX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8813-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LGCRX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $127 | 1.15% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 21.31%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i00557959e645c59ffdfe2540.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R3** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $10000 | $10000 | $10000 |
| **1/31/2017** | $10040 | $10050 | $10049 |
| **2/28/2017** | $10210 | $10336 | $10331 |
| **3/31/2017** | $10310 | $10469 | $10457 |
| **4/30/2017** | $10540 | $10637 | $10620 |
| **5/31/2017** | $10770 | $10882 | $10855 |
| **6/30/2017** | $10780 | $10936 | $10904 |
| **7/31/2017** | $11060 | $11245 | $11209 |
| **8/31/2017** | $11140 | $11294 | $11252 |
| **9/30/2017** | $11320 | $11516 | $11469 |
| **10/31/2017** | $11560 | $11758 | $11707 |
| **11/30/2017** | $11790 | $11991 | $11934 |
| **12/31/2017** | $11896 | $12188 | $12126 |
| **1/31/2018** | $12687 | $12879 | $12811 |
| **2/28/2018** | $12159 | $12343 | $12272 |
| **3/31/2018** | $12064 | $12086 | $12010 |
| **4/30/2018** | $12128 | $12208 | $12125 |
| **5/31/2018** | $12128 | $12234 | $12140 |
| **6/30/2018** | $12022 | $12172 | $12074 |
| **7/31/2018** | $12307 | $12543 | $12438 |
| **8/31/2018** | $12476 | $12648 | $12536 |
| **9/30/2018** | $12549 | $12708 | $12591 |
| **10/31/2018** | $11495 | $11758 | $11647 |
| **11/30/2018** | $11611 | $11936 | $11817 |
| **12/31/2018** | $10740 | $11100 | $10985 |
| **1/31/2019** | $11606 | $11980 | $11852 |
| **2/28/2019** | $11962 | $12306 | $12169 |
| **3/31/2019** | $12117 | $12468 | $12322 |
| **4/30/2019** | $12473 | $12896 | $12738 |
| **5/31/2019** | $11706 | $12142 | $11983 |
| **6/30/2019** | $12406 | $12942 | $12767 |
| **7/31/2019** | $12406 | $12985 | $12805 |
| **8/31/2019** | $12162 | $12683 | $12501 |
| **9/30/2019** | $12384 | $12955 | $12764 |
| **10/31/2019** | $12717 | $13313 | $13113 |
| **11/30/2019** | $13072 | $13644 | $13433 |
| **12/31/2019** | $13528 | $14130 | $13906 |
| **1/31/2020** | $13337 | $13977 | $13753 |
| **2/29/2020** | $12530 | $12854 | $12642 |
| **3/31/2020** | $10580 | $11126 | $10935 |
| **4/30/2020** | $11723 | $12324 | $12107 |
| **5/31/2020** | $12317 | $12867 | $12633 |
| **6/30/2020** | $12878 | $13284 | $13037 |
| **7/31/2020** | $13651 | $13992 | $13726 |
| **8/31/2020** | $14402 | $14854 | $14567 |
| **9/30/2020** | $14043 | $14380 | $14097 |
| **10/31/2020** | $14021 | $14034 | $13754 |
| **11/30/2020** | $15814 | $15769 | $15449 |
| **12/31/2020** | $16675 | $16507 | $16167 |
| **1/31/2021** | $16452 | $16436 | $16093 |
| **2/28/2021** | $17285 | $16822 | $16466 |
| **3/31/2021** | $17426 | $17280 | $16906 |
| **4/30/2021** | $18342 | $18043 | $17645 |
| **5/31/2021** | $18588 | $18333 | $17920 |
| **6/30/2021** | $18694 | $18581 | $18156 |
| **7/31/2021** | $18670 | $18714 | $18281 |
| **8/31/2021** | $19151 | $19188 | $18738 |
| **9/30/2021** | $18166 | $18404 | $17965 |
| **10/31/2021** | $19327 | $19348 | $18881 |
| **11/30/2021** | $18881 | $18888 | $18427 |
| **12/31/2021** | $19588 | $19650 | $19164 |
| **1/31/2022** | $18414 | $18688 | $18223 |
| **2/28/2022** | $17800 | $18211 | $17752 |
| **3/31/2022** | $18196 | $18616 | $18137 |
| **4/30/2022** | $16626 | $17133 | $16685 |
| **5/31/2022** | $16667 | $17165 | $16705 |
| **6/30/2022** | $15343 | $15725 | $15296 |
| **7/31/2022** | $16530 | $16829 | $16364 |
| **8/31/2022** | $15916 | $16216 | $15762 |
| **9/30/2022** | $14619 | $14671 | $14253 |
| **10/31/2022** | $15370 | $15560 | $15113 |
| **11/30/2022** | $16585 | $16774 | $16285 |
| **12/31/2022** | $15815 | $16120 | $15645 |
| **1/31/2023** | $16993 | $17280 | $16766 |
| **2/28/2023** | $16404 | $16791 | $16285 |
| **3/31/2023** | $16883 | $17320 | $16787 |
| **4/30/2023** | $17061 | $17577 | $17029 |
| **5/31/2023** | $16773 | $17401 | $16846 |
| **6/30/2023** | $17773 | $18419 | $17825 |
| **7/31/2023** | $18540 | $19099 | $18477 |
| **8/31/2023** | $18020 | $18573 | $17961 |
| **9/30/2023** | $17198 | $17812 | $17218 |
| **10/31/2023** | $16856 | $17280 | $16700 |
| **11/30/2023** | $18540 | $18883 | $18242 |
| **12/31/2023** | $19438 | $19797 | $19118 |
| **1/31/2024** | $19824 | $19917 | $19230 |
| **2/29/2024** | $20816 | $20779 | $20055 |
| **3/31/2024** | $21518 | $21443 | $20685 |
| **4/30/2024** | $20595 | $20745 | $20002 |
| **5/31/2024** | $21711 | $21601 | $20815 |
| **6/30/2024** | $22001 | $22089 | $21278 |
| **7/31/2024** | $22386 | $22452 | $21622 |
| **8/31/2024** | $22731 | $23030 | $22171 |
| **9/30/2024** | $22951 | $23573 | $22686 |
| **10/31/2024** | $22634 | $23052 | $22177 |
| **11/30/2024** | $23351 | $23922 | $23006 |
| **12/31/2024** | $22795 | $23363 | $22461 |
| **1/31/2025** | $23609 | $24153 | $23216 |
| **2/28/2025** | $23195 | $24014 | $23076 |
| **3/31/2025** | $22367 | $23078 | $22164 |
| **4/30/2025** | $22974 | $23304 | $22371 |
| **5/31/2025** | $24699 | $24659 | $23656 |
| **6/30/2025** | $25886 | $25776 | $24718 |
| **7/31/2025** | $25927 | $26133 | $25054 |
| **8/31/2025** | $26658 | $26790 | $25673 |
| **9/30/2025** | $27127 | $27771 | $26603 |
| **10/31/2025** | $27459 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class R3 at NAV | 21.31% | 14.39% | 12.19% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LGCRX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8815-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LGCSX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $100 | 0.90% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 21.67%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if6f9fa70187422d389227617.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R4** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $10000 | $10000 | $10000 |
| **1/31/2017** | $10040 | $10050 | $10049 |
| **2/28/2017** | $10220 | $10336 | $10331 |
| **3/31/2017** | $10310 | $10469 | $10457 |
| **4/30/2017** | $10540 | $10637 | $10620 |
| **5/31/2017** | $10780 | $10882 | $10855 |
| **6/30/2017** | $10790 | $10936 | $10904 |
| **7/31/2017** | $11070 | $11245 | $11209 |
| **8/31/2017** | $11150 | $11294 | $11252 |
| **9/30/2017** | $11330 | $11516 | $11469 |
| **10/31/2017** | $11580 | $11758 | $11707 |
| **11/30/2017** | $11810 | $11991 | $11934 |
| **12/31/2017** | $11922 | $12188 | $12126 |
| **1/31/2018** | $12715 | $12879 | $12811 |
| **2/28/2018** | $12197 | $12343 | $12272 |
| **3/31/2018** | $12091 | $12086 | $12010 |
| **4/30/2018** | $12165 | $12208 | $12125 |
| **5/31/2018** | $12165 | $12234 | $12140 |
| **6/30/2018** | $12059 | $12172 | $12074 |
| **7/31/2018** | $12355 | $12543 | $12438 |
| **8/31/2018** | $12524 | $12648 | $12536 |
| **9/30/2018** | $12598 | $12708 | $12591 |
| **10/31/2018** | $11552 | $11758 | $11647 |
| **11/30/2018** | $11668 | $11936 | $11817 |
| **12/31/2018** | $10800 | $11100 | $10985 |
| **1/31/2019** | $11666 | $11980 | $11852 |
| **2/28/2019** | $12022 | $12306 | $12169 |
| **3/31/2019** | $12188 | $12468 | $12322 |
| **4/30/2019** | $12544 | $12896 | $12738 |
| **5/31/2019** | $11777 | $12142 | $11983 |
| **6/30/2019** | $12477 | $12942 | $12767 |
| **7/31/2019** | $12477 | $12985 | $12805 |
| **8/31/2019** | $12244 | $12683 | $12501 |
| **9/30/2019** | $12466 | $12955 | $12764 |
| **10/31/2019** | $12811 | $13313 | $13113 |
| **11/30/2019** | $13166 | $13644 | $13433 |
| **12/31/2019** | $13629 | $14130 | $13906 |
| **1/31/2020** | $13438 | $13977 | $13753 |
| **2/29/2020** | $12629 | $12854 | $12642 |
| **3/31/2020** | $10663 | $11126 | $10935 |
| **4/30/2020** | $11820 | $12324 | $12107 |
| **5/31/2020** | $12427 | $12867 | $12633 |
| **6/30/2020** | $12989 | $13284 | $13037 |
| **7/31/2020** | $13764 | $13992 | $13726 |
| **8/31/2020** | $14539 | $14854 | $14567 |
| **9/30/2020** | $14180 | $14380 | $14097 |
| **10/31/2020** | $14157 | $14034 | $13754 |
| **11/30/2020** | $15966 | $15769 | $15449 |
| **12/31/2020** | $16834 | $16507 | $16167 |
| **1/31/2021** | $16621 | $16436 | $16093 |
| **2/28/2021** | $17458 | $16822 | $16466 |
| **3/31/2021** | $17635 | $17280 | $16906 |
| **4/30/2021** | $18566 | $18043 | $17645 |
| **5/31/2021** | $18826 | $18333 | $17920 |
| **6/30/2021** | $18932 | $18581 | $18156 |
| **7/31/2021** | $18920 | $18714 | $18281 |
| **8/31/2021** | $19403 | $19188 | $18738 |
| **9/30/2021** | $18401 | $18404 | $17965 |
| **10/31/2021** | $19592 | $19348 | $18881 |
| **11/30/2021** | $19132 | $18888 | $18427 |
| **12/31/2021** | $19840 | $19650 | $19164 |
| **1/31/2022** | $18660 | $18688 | $18223 |
| **2/28/2022** | $18043 | $18211 | $17752 |
| **3/31/2022** | $18441 | $18616 | $18137 |
| **4/30/2022** | $16863 | $17133 | $16685 |
| **5/31/2022** | $16890 | $17165 | $16705 |
| **6/30/2022** | $15559 | $15725 | $15296 |
| **7/31/2022** | $16767 | $16829 | $16364 |
| **8/31/2022** | $16149 | $16216 | $15762 |
| **9/30/2022** | $14846 | $14671 | $14253 |
| **10/31/2022** | $15600 | $15560 | $15113 |
| **11/30/2022** | $16835 | $16774 | $16285 |
| **12/31/2022** | $16064 | $16120 | $15645 |
| **1/31/2023** | $17267 | $17280 | $16766 |
| **2/28/2023** | $16659 | $16791 | $16285 |
| **3/31/2023** | $17156 | $17320 | $16787 |
| **4/30/2023** | $17336 | $17577 | $17029 |
| **5/31/2023** | $17046 | $17401 | $16846 |
| **6/30/2023** | $18069 | $18419 | $17825 |
| **7/31/2023** | $18857 | $19099 | $18477 |
| **8/31/2023** | $18331 | $18573 | $17961 |
| **9/30/2023** | $17502 | $17812 | $17218 |
| **10/31/2023** | $17156 | $17280 | $16700 |
| **11/30/2023** | $18871 | $18883 | $18242 |
| **12/31/2023** | $19797 | $19797 | $19118 |
| **1/31/2024** | $20184 | $19917 | $19230 |
| **2/29/2024** | $21207 | $20779 | $20055 |
| **3/31/2024** | $21912 | $21443 | $20685 |
| **4/30/2024** | $20986 | $20745 | $20002 |
| **5/31/2024** | $22133 | $21601 | $20815 |
| **6/30/2024** | $22424 | $22089 | $21278 |
| **7/31/2024** | $22824 | $22452 | $21622 |
| **8/31/2024** | $23184 | $23030 | $22171 |
| **9/30/2024** | $23405 | $23573 | $22686 |
| **10/31/2024** | $23087 | $23052 | $22177 |
| **11/30/2024** | $23820 | $23922 | $23006 |
| **12/31/2024** | $23275 | $23363 | $22461 |
| **1/31/2025** | $24093 | $24153 | $23216 |
| **2/28/2025** | $23677 | $24014 | $23076 |
| **3/31/2025** | $22830 | $23078 | $22164 |
| **4/30/2025** | $23469 | $23304 | $22371 |
| **5/31/2025** | $25245 | $24659 | $23656 |
| **6/30/2025** | $26453 | $25776 | $24718 |
| **7/31/2025** | $26508 | $26133 | $25054 |
| **8/31/2025** | $27258 | $26790 | $25673 |
| **9/30/2025** | $27744 | $27771 | $26603 |
| **10/31/2025** | $28090 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class R4 at NAV | 21.67% | 14.69% | 12.48% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LGCSX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8816-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LGCVX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $72 | 0.65% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 21.92%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i78b8768fd78e4cc9497a5cf8.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R5** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $10000 | $10000 | $10000 |
| **1/31/2017** | $10040 | $10050 | $10049 |
| **2/28/2017** | $10220 | $10336 | $10331 |
| **3/31/2017** | $10320 | $10469 | $10457 |
| **4/30/2017** | $10550 | $10637 | $10620 |
| **5/31/2017** | $10790 | $10882 | $10855 |
| **6/30/2017** | $10810 | $10936 | $10904 |
| **7/31/2017** | $11090 | $11245 | $11209 |
| **8/31/2017** | $11170 | $11294 | $11252 |
| **9/30/2017** | $11360 | $11516 | $11469 |
| **10/31/2017** | $11610 | $11758 | $11707 |
| **11/30/2017** | $11840 | $11991 | $11934 |
| **12/31/2017** | $11959 | $12188 | $12126 |
| **1/31/2018** | $12753 | $12879 | $12811 |
| **2/28/2018** | $12234 | $12343 | $12272 |
| **3/31/2018** | $12139 | $12086 | $12010 |
| **4/30/2018** | $12202 | $12208 | $12125 |
| **5/31/2018** | $12213 | $12234 | $12140 |
| **6/30/2018** | $12107 | $12172 | $12074 |
| **7/31/2018** | $12404 | $12543 | $12438 |
| **8/31/2018** | $12584 | $12648 | $12536 |
| **9/30/2018** | $12658 | $12708 | $12591 |
| **10/31/2018** | $11599 | $11758 | $11647 |
| **11/30/2018** | $11726 | $11936 | $11817 |
| **12/31/2018** | $10853 | $11100 | $10985 |
| **1/31/2019** | $11724 | $11980 | $11852 |
| **2/28/2019** | $12093 | $12306 | $12169 |
| **3/31/2019** | $12260 | $12468 | $12322 |
| **4/30/2019** | $12617 | $12896 | $12738 |
| **5/31/2019** | $11847 | $12142 | $11983 |
| **6/30/2019** | $12561 | $12942 | $12767 |
| **7/31/2019** | $12561 | $12985 | $12805 |
| **8/31/2019** | $12327 | $12683 | $12501 |
| **9/30/2019** | $12561 | $12955 | $12764 |
| **10/31/2019** | $12896 | $13313 | $13113 |
| **11/30/2019** | $13265 | $13644 | $13433 |
| **12/31/2019** | $13728 | $14130 | $13906 |
| **1/31/2020** | $13536 | $13977 | $13753 |
| **2/29/2020** | $12732 | $12854 | $12642 |
| **3/31/2020** | $10740 | $11126 | $10935 |
| **4/30/2020** | $11917 | $12324 | $12107 |
| **5/31/2020** | $12529 | $12867 | $12633 |
| **6/30/2020** | $13094 | $13284 | $13037 |
| **7/31/2020** | $13898 | $13992 | $13726 |
| **8/31/2020** | $14668 | $14854 | $14567 |
| **9/30/2020** | $14305 | $14380 | $14097 |
| **10/31/2020** | $14283 | $14034 | $13754 |
| **11/30/2020** | $16127 | $15769 | $15449 |
| **12/31/2020** | $17001 | $16507 | $16167 |
| **1/31/2021** | $16787 | $16436 | $16093 |
| **2/28/2021** | $17644 | $16822 | $16466 |
| **3/31/2021** | $17822 | $17280 | $16906 |
| **4/30/2021** | $18774 | $18043 | $17645 |
| **5/31/2021** | $19036 | $18333 | $17920 |
| **6/30/2021** | $19143 | $18581 | $18156 |
| **7/31/2021** | $19131 | $18714 | $18281 |
| **8/31/2021** | $19631 | $19188 | $18738 |
| **9/30/2021** | $18619 | $18404 | $17965 |
| **10/31/2021** | $19821 | $19348 | $18881 |
| **11/30/2021** | $19369 | $18888 | $18427 |
| **12/31/2021** | $20098 | $19650 | $19164 |
| **1/31/2022** | $18904 | $18688 | $18223 |
| **2/28/2022** | $18280 | $18211 | $17752 |
| **3/31/2022** | $18682 | $18616 | $18137 |
| **4/30/2022** | $17086 | $17133 | $16685 |
| **5/31/2022** | $17128 | $17165 | $16705 |
| **6/30/2022** | $15781 | $15725 | $15296 |
| **7/31/2022** | $17003 | $16829 | $16364 |
| **8/31/2022** | $16378 | $16216 | $15762 |
| **9/30/2022** | $15060 | $14671 | $14253 |
| **10/31/2022** | $15823 | $15560 | $15113 |
| **11/30/2022** | $17086 | $16774 | $16285 |
| **12/31/2022** | $16305 | $16120 | $15645 |
| **1/31/2023** | $17524 | $17280 | $16766 |
| **2/28/2023** | $16922 | $16791 | $16285 |
| **3/31/2023** | $17426 | $17320 | $16787 |
| **4/30/2023** | $17608 | $17577 | $17029 |
| **5/31/2023** | $17328 | $17401 | $16846 |
| **6/30/2023** | $18379 | $18419 | $17825 |
| **7/31/2023** | $19177 | $19099 | $18477 |
| **8/31/2023** | $18645 | $18573 | $17961 |
| **9/30/2023** | $17804 | $17812 | $17218 |
| **10/31/2023** | $17454 | $17280 | $16700 |
| **11/30/2023** | $19205 | $18883 | $18242 |
| **12/31/2023** | $20142 | $19797 | $19118 |
| **1/31/2024** | $20553 | $19917 | $19230 |
| **2/29/2024** | $21586 | $20779 | $20055 |
| **3/31/2024** | $22322 | $21443 | $20685 |
| **4/30/2024** | $21374 | $20745 | $20002 |
| **5/31/2024** | $22549 | $21601 | $20815 |
| **6/30/2024** | $22860 | $22089 | $21278 |
| **7/31/2024** | $23271 | $22452 | $21622 |
| **8/31/2024** | $23639 | $23030 | $22171 |
| **9/30/2024** | $23865 | $23573 | $22686 |
| **10/31/2024** | $23554 | $23052 | $22177 |
| **11/30/2024** | $24304 | $23922 | $23006 |
| **12/31/2024** | $23744 | $23363 | $22461 |
| **1/31/2025** | $24599 | $24153 | $23216 |
| **2/28/2025** | $24172 | $24014 | $23076 |
| **3/31/2025** | $23317 | $23078 | $22164 |
| **4/30/2025** | $23958 | $23304 | $22371 |
| **5/31/2025** | $25781 | $24659 | $23656 |
| **6/30/2025** | $27021 | $25776 | $24718 |
| **7/31/2025** | $27077 | $26133 | $25054 |
| **8/31/2025** | $27861 | $26790 | $25673 |
| **9/30/2025** | $28359 | $27771 | $26603 |
| **10/31/2025** | $28716 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class R5 at NAV | 21.92% | 14.99% | 12.76% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LGCVX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8817-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LGCWX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Global Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $58 | 0.52% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 22.06%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 23.19% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI GR USD. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Communication Services sector contributed to relative performance, led by an overweight allocation to Alphabet, Inc. Security selection within the Consumer Staples sector also contributed to relative performance, led by an overweight allocation Imperial Brands PLC.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Salesforce, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i62d3b9a4d39af9986661e70a.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R6** | **MSCI ACWI GR USD** | **MSCI ACWI Net Index** |
| **1/18/2017** | $10000 | $10000 | $10000 |
| **1/31/2017** | $10040 | $10050 | $10049 |
| **2/28/2017** | $10220 | $10336 | $10331 |
| **3/31/2017** | $10320 | $10469 | $10457 |
| **4/30/2017** | $10550 | $10637 | $10620 |
| **5/31/2017** | $10790 | $10882 | $10855 |
| **6/30/2017** | $10810 | $10936 | $10904 |
| **7/31/2017** | $11090 | $11245 | $11209 |
| **8/31/2017** | $11180 | $11294 | $11252 |
| **9/30/2017** | $11360 | $11516 | $11469 |
| **10/31/2017** | $11610 | $11758 | $11707 |
| **11/30/2017** | $11850 | $11991 | $11934 |
| **12/31/2017** | $11960 | $12188 | $12126 |
| **1/31/2018** | $12766 | $12879 | $12811 |
| **2/28/2018** | $12236 | $12343 | $12272 |
| **3/31/2018** | $12141 | $12086 | $12010 |
| **4/30/2018** | $12204 | $12208 | $12125 |
| **5/31/2018** | $12215 | $12234 | $12140 |
| **6/30/2018** | $12109 | $12172 | $12074 |
| **7/31/2018** | $12405 | $12543 | $12438 |
| **8/31/2018** | $12585 | $12648 | $12536 |
| **9/30/2018** | $12660 | $12708 | $12591 |
| **10/31/2018** | $11611 | $11758 | $11647 |
| **11/30/2018** | $11727 | $11936 | $11817 |
| **12/31/2018** | $10858 | $11100 | $10985 |
| **1/31/2019** | $11730 | $11980 | $11852 |
| **2/28/2019** | $12098 | $12306 | $12169 |
| **3/31/2019** | $12266 | $12468 | $12322 |
| **4/30/2019** | $12623 | $12896 | $12738 |
| **5/31/2019** | $11852 | $12142 | $11983 |
| **6/30/2019** | $12567 | $12942 | $12767 |
| **7/31/2019** | $12567 | $12985 | $12805 |
| **8/31/2019** | $12333 | $12683 | $12501 |
| **9/30/2019** | $12567 | $12955 | $12764 |
| **10/31/2019** | $12903 | $13313 | $13113 |
| **11/30/2019** | $13282 | $13644 | $13433 |
| **12/31/2019** | $13750 | $14130 | $13906 |
| **1/31/2020** | $13546 | $13977 | $13753 |
| **2/29/2020** | $12742 | $12854 | $12642 |
| **3/31/2020** | $10760 | $11126 | $10935 |
| **4/30/2020** | $11927 | $12324 | $12107 |
| **5/31/2020** | $12538 | $12867 | $12633 |
| **6/30/2020** | $13116 | $13284 | $13037 |
| **7/31/2020** | $13909 | $13992 | $13726 |
| **8/31/2020** | $14690 | $14854 | $14567 |
| **9/30/2020** | $14328 | $14380 | $14097 |
| **10/31/2020** | $14305 | $14034 | $13754 |
| **11/30/2020** | $16152 | $15769 | $15449 |
| **12/31/2020** | $17023 | $16507 | $16167 |
| **1/31/2021** | $16809 | $16436 | $16093 |
| **2/28/2021** | $17666 | $16822 | $16466 |
| **3/31/2021** | $17845 | $17280 | $16906 |
| **4/30/2021** | $18798 | $18043 | $17645 |
| **5/31/2021** | $19060 | $18333 | $17920 |
| **6/30/2021** | $19167 | $18581 | $18156 |
| **7/31/2021** | $19167 | $18714 | $18281 |
| **8/31/2021** | $19656 | $19188 | $18738 |
| **9/30/2021** | $18655 | $18404 | $17965 |
| **10/31/2021** | $19858 | $19348 | $18881 |
| **11/30/2021** | $19406 | $18888 | $18427 |
| **12/31/2021** | $20135 | $19650 | $19164 |
| **1/31/2022** | $18953 | $18688 | $18223 |
| **2/28/2022** | $18313 | $18211 | $17752 |
| **3/31/2022** | $18730 | $18616 | $18137 |
| **4/30/2022** | $17131 | $17133 | $16685 |
| **5/31/2022** | $17173 | $17165 | $16705 |
| **6/30/2022** | $15810 | $15725 | $15296 |
| **7/31/2022** | $17048 | $16829 | $16364 |
| **8/31/2022** | $16422 | $16216 | $15762 |
| **9/30/2022** | $15101 | $14671 | $14253 |
| **10/31/2022** | $15866 | $15560 | $15113 |
| **11/30/2022** | $17131 | $16774 | $16285 |
| **12/31/2022** | $16347 | $16120 | $15645 |
| **1/31/2023** | $17583 | $17280 | $16766 |
| **2/28/2023** | $16979 | $16791 | $16285 |
| **3/31/2023** | $17485 | $17320 | $16787 |
| **4/30/2023** | $17667 | $17577 | $17029 |
| **5/31/2023** | $17387 | $17401 | $16846 |
| **6/30/2023** | $18440 | $18419 | $17825 |
| **7/31/2023** | $19240 | $19099 | $18477 |
| **8/31/2023** | $18707 | $18573 | $17961 |
| **9/30/2023** | $17864 | $17812 | $17218 |
| **10/31/2023** | $17513 | $17280 | $16700 |
| **11/30/2023** | $19283 | $18883 | $18242 |
| **12/31/2023** | $20218 | $19797 | $19118 |
| **1/31/2024** | $20630 | $19917 | $19230 |
| **2/29/2024** | $21680 | $20779 | $20055 |
| **3/31/2024** | $22419 | $21443 | $20685 |
| **4/30/2024** | $21453 | $20745 | $20002 |
| **5/31/2024** | $22646 | $21601 | $20815 |
| **6/30/2024** | $22958 | $22089 | $21278 |
| **7/31/2024** | $23370 | $22452 | $21622 |
| **8/31/2024** | $23753 | $23030 | $22171 |
| **9/30/2024** | $23980 | $23573 | $22686 |
| **10/31/2024** | $23668 | $23052 | $22177 |
| **11/30/2024** | $24421 | $23922 | $23006 |
| **12/31/2024** | $23859 | $23363 | $22461 |
| **1/31/2025** | $24716 | $24153 | $23216 |
| **2/28/2025** | $24302 | $24014 | $23076 |
| **3/31/2025** | $23445 | $23078 | $22164 |
| **4/30/2025** | $24088 | $23304 | $22371 |
| **5/31/2025** | $25931 | $24659 | $23656 |
| **6/30/2025** | $27174 | $25776 | $24718 |
| **7/31/2025** | $27245 | $26133 | $25054 |
| **8/31/2025** | $28017 | $26790 | $25673 |
| **9/30/2025** | $28531 | $27771 | $26603 |
| **10/31/2025** | $28888 | $28397 | $27198 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/18/17 |
| Class R6 at NAV | 22.06% | 15.09% | 12.84% |
| MSCI ACWI GR USD | 23.19% | 15.14% | 12.62% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.07% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $336009232 |
| # of Portfolio Holdings | 89 |
| Portfolio Turnover Rate | 61% |
| Total Advisory Fees Paid | $603752 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 8.93% |
| Consumer Discretionary | 15.67% |
| Consumer Staples | 3.48% |
| Energy | 2.04% |
| Financials | 15.05% |
| Health Care | 7.89% |
| Industrials | 15.69% |
| Information Technology | 27.00% |
| Materials | 0.48% |
| Real Estate | 0.60% |
| Utilities | 1.19% |
| Repurchase Agreements | 1.98% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LGCWX

# Lord Abbett Global Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8818-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LICAX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $102 | 0.91% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.30%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i4ab38f785045bcd17f0739de.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with load** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $9426 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9292 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9160 | $9609 | $9613 | $9712 |
| **1/31/2016** | $8722 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8435 | $8853 | $8861 | $8844 |
| **3/31/2016** | $8896 | $9573 | $9588 | $9420 |
| **4/30/2016** | $8941 | $9825 | $9849 | $9693 |
| **5/31/2016** | $8986 | $9659 | $9692 | $9605 |
| **6/30/2016** | $8631 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9107 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9153 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9243 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9092 | $10022 | $10072 | $9677 |
| **11/30/2016** | $8737 | $9791 | $9840 | $9485 |
| **12/31/2016** | $8992 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9239 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9286 | $10562 | $10622 | $10238 |
| **3/31/2017** | $9510 | $10830 | $10901 | $10520 |
| **4/30/2017** | $9788 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10020 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10020 | $11456 | $11555 | $11163 |
| **7/31/2017** | $10398 | $11879 | $11984 | $11485 |
| **8/31/2017** | $10483 | $11941 | $12049 | $11481 |
| **9/30/2017** | $10761 | $12162 | $12277 | $11767 |
| **10/31/2017** | $10893 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11101 | $12492 | $12613 | $12071 |
| **12/31/2017** | $11250 | $12771 | $12899 | $12265 |
| **1/31/2018** | $11857 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11195 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11132 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11187 | $12821 | $12974 | $12352 |
| **5/31/2018** | $10911 | $12525 | $12688 | $12075 |
| **6/30/2018** | $10565 | $12290 | $12454 | $11927 |
| **7/31/2018** | $10706 | $12584 | $12756 | $12221 |
| **8/31/2018** | $10612 | $12321 | $12492 | $11985 |
| **9/30/2018** | $10596 | $12377 | $12554 | $12089 |
| **10/31/2018** | $9596 | $11370 | $11534 | $11127 |
| **11/30/2018** | $9611 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9200 | $10958 | $11122 | $10573 |
| **1/31/2019** | $9764 | $11786 | $11964 | $11268 |
| **2/28/2019** | $9957 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10077 | $12088 | $12283 | $11628 |
| **4/30/2019** | $10367 | $12407 | $12616 | $11955 |
| **5/31/2019** | $9836 | $11742 | $11953 | $11381 |
| **6/30/2019** | $10528 | $12448 | $12679 | $12056 |
| **7/31/2019** | $10279 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10126 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10263 | $12225 | $12463 | $11927 |
| **10/31/2019** | $10617 | $12651 | $12900 | $12356 |
| **11/30/2019** | $10705 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11172 | $13316 | $13583 | $12901 |
| **1/31/2020** | $10804 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10143 | $11933 | $12177 | $11490 |
| **3/31/2020** | $8730 | $10206 | $10423 | $9956 |
| **4/30/2020** | $9350 | $10979 | $11220 | $10599 |
| **5/31/2020** | $9702 | $11338 | $11593 | $11061 |
| **6/30/2020** | $10314 | $11850 | $12122 | $11437 |
| **7/31/2020** | $10861 | $12379 | $12668 | $11704 |
| **8/31/2020** | $11278 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11131 | $12592 | $12893 | $11986 |
| **10/31/2020** | $10959 | $12321 | $12618 | $11507 |
| **11/30/2020** | $12282 | $13978 | $14317 | $13291 |
| **12/31/2020** | $13056 | $14734 | $15095 | $13909 |
| **1/31/2021** | $12966 | $14766 | $15130 | $13761 |
| **2/28/2021** | $13271 | $15058 | $15432 | $14070 |
| **3/31/2021** | $13420 | $15248 | $15638 | $14393 |
| **4/30/2021** | $13891 | $15698 | $16108 | $14826 |
| **5/31/2021** | $14427 | $16189 | $16623 | $15310 |
| **6/30/2021** | $14229 | $16083 | $16521 | $15137 |
| **7/31/2021** | $14361 | $15819 | $16253 | $15251 |
| **8/31/2021** | $14675 | $16119 | $16565 | $15520 |
| **9/30/2021** | $14089 | $15603 | $16045 | $15070 |
| **10/31/2021** | $14593 | $15975 | $16432 | $15441 |
| **11/30/2021** | $13981 | $15256 | $15694 | $14722 |
| **12/31/2021** | $14577 | $15887 | $16347 | $15476 |
| **1/31/2022** | $13868 | $15301 | $15746 | $14728 |
| **2/28/2022** | $13271 | $14998 | $15437 | $14468 |
| **3/31/2022** | $13187 | $15022 | $15475 | $14561 |
| **4/30/2022** | $12337 | $14079 | $14513 | $13619 |
| **5/31/2022** | $12431 | $14180 | $14632 | $13721 |
| **6/30/2022** | $11469 | $12960 | $13379 | $12448 |
| **7/31/2022** | $11889 | $13404 | $13842 | $13068 |
| **8/31/2022** | $11376 | $12973 | $13401 | $12447 |
| **9/30/2022** | $10368 | $11676 | $12068 | $11283 |
| **10/31/2022** | $10835 | $12025 | $12431 | $11889 |
| **11/30/2022** | $12179 | $13445 | $13900 | $13229 |
| **12/31/2022** | $11827 | $13344 | $13802 | $13239 |
| **1/31/2023** | $12817 | $14426 | $14924 | $14311 |
| **2/28/2023** | $12284 | $13920 | $14402 | $14013 |
| **3/31/2023** | $12627 | $14261 | $14768 | $14360 |
| **4/30/2023** | $12789 | $14508 | $15036 | $14765 |
| **5/31/2023** | $12351 | $13980 | $14504 | $14141 |
| **6/30/2023** | $12932 | $14608 | $15163 | $14784 |
| **7/31/2023** | $13179 | $15202 | $15784 | $15263 |
| **8/31/2023** | $12770 | $14515 | $15074 | $14678 |
| **9/30/2023** | $12227 | $14057 | $14605 | $14176 |
| **10/31/2023** | $11779 | $13477 | $14005 | $13602 |
| **11/30/2023** | $12741 | $14690 | $15268 | $14864 |
| **12/31/2023** | $13287 | $15428 | $16039 | $15654 |
| **1/31/2024** | $13364 | $15275 | $15882 | $15744 |
| **2/29/2024** | $14091 | $15661 | $16287 | $16032 |
| **3/31/2024** | $14712 | $16151 | $16811 | $16559 |
| **4/30/2024** | $14266 | $15861 | $16523 | $16135 |
| **5/31/2024** | $14896 | $16321 | $17018 | $16760 |
| **6/30/2024** | $14857 | $16306 | $17008 | $16490 |
| **7/31/2024** | $15119 | $16683 | $17407 | $16974 |
| **8/31/2024** | $15516 | $17158 | $17907 | $17525 |
| **9/30/2024** | $15700 | $17621 | $18397 | $17687 |
| **10/31/2024** | $14964 | $16756 | $17504 | $16725 |
| **11/30/2024** | $14954 | $16605 | $17348 | $16631 |
| **12/31/2024** | $14520 | $16282 | $17017 | $16252 |
| **1/31/2025** | $15237 | $16938 | $17705 | $17106 |
| **2/28/2025** | $15611 | $17173 | $17954 | $17438 |
| **3/31/2025** | $15571 | $17134 | $17929 | $17368 |
| **4/30/2025** | $16166 | $17753 | $18591 | $18163 |
| **5/31/2025** | $16954 | $18566 | $19462 | $18994 |
| **6/30/2025** | $17620 | $19196 | $20133 | $19413 |
| **7/31/2025** | $17317 | $19141 | $20082 | $19140 |
| **8/31/2025** | $17742 | $19805 | $20792 | $19956 |
| **9/30/2025** | $18257 | $20519 | $21549 | $20338 |
| **10/31/2025** | $18600 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | 24.30% | 11.16% | 7.03% |
| Class A with sales charge | 17.17% | 9.85% | 6.40% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LICAX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1418-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LICCX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $185 | 1.66% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 23.36%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if47f4b66e38a3ba3eddd2111.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with load** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9855 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9716 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9239 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8932 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9409 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9457 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9498 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9126 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9619 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9659 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9748 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9579 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9207 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9467 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9721 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9770 | $10562 | $10622 | $10238 |
| **3/31/2017** | $9992 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10278 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10516 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10508 | $11456 | $11555 | $11163 |
| **7/31/2017** | $10901 | $11879 | $11984 | $11485 |
| **8/31/2017** | $10974 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11261 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11400 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11605 | $12492 | $12613 | $12071 |
| **12/31/2017** | $11755 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12385 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11689 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11614 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11664 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11366 | $12525 | $12688 | $12075 |
| **6/30/2018** | $10993 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11134 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11034 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11009 | $12377 | $12554 | $12089 |
| **10/31/2018** | $9965 | $11370 | $11534 | $11127 |
| **11/30/2018** | $9973 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9536 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10121 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10314 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10431 | $12088 | $12283 | $11628 |
| **4/30/2019** | $10724 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10171 | $11742 | $11953 | $11381 |
| **6/30/2019** | $10874 | $12448 | $12679 | $12056 |
| **7/31/2019** | $10615 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10447 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10581 | $12225 | $12463 | $11927 |
| **10/31/2019** | $10949 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11025 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11493 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11114 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10424 | $11933 | $12177 | $11490 |
| **3/31/2020** | $8967 | $10206 | $10423 | $9956 |
| **4/30/2020** | $9607 | $10979 | $11220 | $10599 |
| **5/31/2020** | $9952 | $11338 | $11593 | $11061 |
| **6/30/2020** | $10567 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11123 | $12379 | $12668 | $11704 |
| **8/31/2020** | $11544 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11384 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11198 | $12321 | $12618 | $11507 |
| **11/30/2020** | $12554 | $13978 | $14317 | $13291 |
| **12/31/2020** | $13328 | $14734 | $15095 | $13909 |
| **1/31/2021** | $13226 | $14766 | $15130 | $13761 |
| **2/28/2021** | $13539 | $15058 | $15432 | $14070 |
| **3/31/2021** | $13682 | $15248 | $15638 | $14393 |
| **4/30/2021** | $14146 | $15698 | $16108 | $14826 |
| **5/31/2021** | $14687 | $16189 | $16623 | $15310 |
| **6/30/2021** | $14475 | $16083 | $16521 | $15137 |
| **7/31/2021** | $14594 | $15819 | $16253 | $15251 |
| **8/31/2021** | $14906 | $16119 | $16565 | $15520 |
| **9/30/2021** | $14307 | $15603 | $16045 | $15070 |
| **10/31/2021** | $14805 | $15975 | $16432 | $15441 |
| **11/30/2021** | $14180 | $15256 | $15694 | $14722 |
| **12/31/2021** | $14776 | $15887 | $16347 | $15476 |
| **1/31/2022** | $14048 | $15301 | $15746 | $14728 |
| **2/28/2022** | $13433 | $14998 | $15437 | $14468 |
| **3/31/2022** | $13338 | $15022 | $15475 | $14561 |
| **4/30/2022** | $12477 | $14079 | $14513 | $13619 |
| **5/31/2022** | $12563 | $14180 | $14632 | $13721 |
| **6/30/2022** | $11579 | $12960 | $13379 | $12448 |
| **7/31/2022** | $11995 | $13404 | $13842 | $13068 |
| **8/31/2022** | $11475 | $12973 | $13401 | $12447 |
| **9/30/2022** | $10453 | $11676 | $12068 | $11283 |
| **10/31/2022** | $10917 | $12025 | $12431 | $11889 |
| **11/30/2022** | $12260 | $13445 | $13900 | $13229 |
| **12/31/2022** | $11894 | $13344 | $13802 | $13239 |
| **1/31/2023** | $12889 | $14426 | $14924 | $14311 |
| **2/28/2023** | $12344 | $13920 | $14402 | $14013 |
| **3/31/2023** | $12679 | $14261 | $14768 | $14360 |
| **4/30/2023** | $12832 | $14508 | $15036 | $14765 |
| **5/31/2023** | $12382 | $13980 | $14504 | $14141 |
| **6/30/2023** | $12965 | $14608 | $15163 | $14784 |
| **7/31/2023** | $13204 | $15202 | $15784 | $15263 |
| **8/31/2023** | $12774 | $14515 | $15074 | $14678 |
| **9/30/2023** | $12220 | $14057 | $14605 | $14176 |
| **10/31/2023** | $11770 | $13477 | $14005 | $13602 |
| **11/30/2023** | $12726 | $14690 | $15268 | $14864 |
| **12/31/2023** | $13257 | $15428 | $16039 | $15654 |
| **1/31/2024** | $13334 | $15275 | $15882 | $15744 |
| **2/29/2024** | $14055 | $15661 | $16287 | $16032 |
| **3/31/2024** | $14660 | $16151 | $16811 | $16559 |
| **4/30/2024** | $14199 | $15861 | $16523 | $16135 |
| **5/31/2024** | $14823 | $16321 | $17018 | $16760 |
| **6/30/2024** | $14775 | $16306 | $17008 | $16490 |
| **7/31/2024** | $15025 | $16683 | $17407 | $16974 |
| **8/31/2024** | $15409 | $17158 | $17907 | $17525 |
| **9/30/2024** | $15582 | $17621 | $18397 | $17687 |
| **10/31/2024** | $14843 | $16756 | $17504 | $16725 |
| **11/30/2024** | $14823 | $16605 | $17348 | $16631 |
| **12/31/2024** | $14382 | $16282 | $17017 | $16252 |
| **1/31/2025** | $15086 | $16938 | $17705 | $17106 |
| **2/28/2025** | $15453 | $17173 | $17954 | $17438 |
| **3/31/2025** | $15404 | $17134 | $17929 | $17368 |
| **4/30/2025** | $15979 | $17753 | $18591 | $18163 |
| **5/31/2025** | $16743 | $18566 | $19462 | $18994 |
| **6/30/2025** | $17398 | $19196 | $20133 | $19413 |
| **7/31/2025** | $17080 | $19141 | $20082 | $19140 |
| **8/31/2025** | $17487 | $19805 | $20792 | $19956 |
| **9/30/2025** | $17993 | $20519 | $21549 | $20338 |
| **10/31/2025** | $18310 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class C at NAV | 23.36% | 10.33% | 6.24% |
| Class C with sales charge | 22.36% | 10.33% | 6.24% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LICCX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1420-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LICFX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $85 | 0.76% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.52%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i3d76dfe6f4a736c521ca0341.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9865 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9733 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9264 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8964 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9450 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9506 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9555 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9183 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9684 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9741 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9838 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9676 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9304 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9581 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9846 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9896 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10136 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10434 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10675 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10683 | $11456 | $11555 | $11163 |
| **7/31/2017** | $11089 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11180 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11479 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11628 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11843 | $12492 | $12613 | $12071 |
| **12/31/2017** | $12003 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12655 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11953 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11893 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11953 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11665 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11284 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11445 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11343 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11335 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10260 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10285 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9845 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10451 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10659 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10789 | $12088 | $12283 | $11628 |
| **4/30/2019** | $11092 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10529 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11274 | $12448 | $12679 | $12056 |
| **7/31/2019** | $11006 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10850 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10997 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11378 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11474 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11976 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11580 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10875 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9361 | $10206 | $10423 | $9956 |
| **4/30/2020** | $10030 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10409 | $11338 | $11593 | $11061 |
| **6/30/2020** | $11069 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11659 | $12379 | $12668 | $11704 |
| **8/31/2020** | $12108 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11950 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11765 | $12321 | $12618 | $11507 |
| **11/30/2020** | $13200 | $13978 | $14317 | $13291 |
| **12/31/2020** | $14022 | $14734 | $15095 | $13909 |
| **1/31/2021** | $13932 | $14766 | $15130 | $13761 |
| **2/28/2021** | $14262 | $15058 | $15432 | $14070 |
| **3/31/2021** | $14432 | $15248 | $15638 | $14393 |
| **4/30/2021** | $14931 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15519 | $16189 | $16623 | $15310 |
| **6/30/2021** | $15305 | $16083 | $16521 | $15137 |
| **7/31/2021** | $15448 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15787 | $16119 | $16565 | $15520 |
| **9/30/2021** | $15163 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15697 | $15975 | $16432 | $15441 |
| **11/30/2021** | $15056 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15703 | $15887 | $16347 | $15476 |
| **1/31/2022** | $14935 | $15301 | $15746 | $14728 |
| **2/28/2022** | $14289 | $14998 | $15437 | $14468 |
| **3/31/2022** | $14198 | $15022 | $15475 | $14561 |
| **4/30/2022** | $13289 | $14079 | $14513 | $13619 |
| **5/31/2022** | $13401 | $14180 | $14632 | $13721 |
| **6/30/2022** | $12360 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12815 | $13404 | $13842 | $13068 |
| **8/31/2022** | $12259 | $12973 | $13401 | $12447 |
| **9/30/2022** | $11179 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11684 | $12025 | $12431 | $11889 |
| **11/30/2022** | $13138 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12754 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13827 | $14426 | $14924 | $14311 |
| **2/28/2023** | $13249 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13620 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13796 | $14508 | $15036 | $14765 |
| **5/31/2023** | $13332 | $13980 | $14504 | $14141 |
| **6/30/2023** | $13961 | $14608 | $15163 | $14784 |
| **7/31/2023** | $14229 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13786 | $14515 | $15074 | $14678 |
| **9/30/2023** | $13197 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12723 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13765 | $14690 | $15268 | $14864 |
| **12/31/2023** | $14352 | $15428 | $16039 | $15654 |
| **1/31/2024** | $14436 | $15275 | $15882 | $15744 |
| **2/29/2024** | $15225 | $15661 | $16287 | $16032 |
| **3/31/2024** | $15898 | $16151 | $16811 | $16559 |
| **4/30/2024** | $15414 | $15861 | $16523 | $16135 |
| **5/31/2024** | $16108 | $16321 | $17018 | $16760 |
| **6/30/2024** | $16056 | $16306 | $17008 | $16490 |
| **7/31/2024** | $16350 | $16683 | $17407 | $16974 |
| **8/31/2024** | $16781 | $17158 | $17907 | $17525 |
| **9/30/2024** | $16981 | $17621 | $18397 | $17687 |
| **10/31/2024** | $16182 | $16756 | $17504 | $16725 |
| **11/30/2024** | $16182 | $16605 | $17348 | $16631 |
| **12/31/2024** | $15705 | $16282 | $17017 | $16252 |
| **1/31/2025** | $16484 | $16938 | $17705 | $17106 |
| **2/28/2025** | $16890 | $17173 | $17954 | $17438 |
| **3/31/2025** | $16857 | $17134 | $17929 | $17368 |
| **4/30/2025** | $17504 | $17753 | $18591 | $18163 |
| **5/31/2025** | $18360 | $18566 | $19462 | $18994 |
| **6/30/2025** | $19085 | $19196 | $20133 | $19413 |
| **7/31/2025** | $18745 | $19141 | $20082 | $19140 |
| **8/31/2025** | $19216 | $19805 | $20792 | $19956 |
| **9/30/2025** | $19776 | $20519 | $21549 | $20338 |
| **10/31/2025** | $20149 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class F at NAV | 24.52% | 11.36% | 7.26% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LICFX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1026-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LICOX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $67 | 0.60% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.64%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i543edc257375105ffd1b7729.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F3** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **4/4/2017** | $10000 | $10000 | $10000 | $10000 |
| **4/30/2017** | $10357 | $10221 | $10227 | $10290 |
| **5/31/2017** | $10600 | $10553 | $10569 | $10668 |
| **6/30/2017** | $10608 | $10585 | $10607 | $10649 |
| **7/31/2017** | $11013 | $10976 | $11000 | $10956 |
| **8/31/2017** | $11102 | $11033 | $11060 | $10952 |
| **9/30/2017** | $11402 | $11238 | $11270 | $11225 |
| **10/31/2017** | $11548 | $11450 | $11483 | $11395 |
| **11/30/2017** | $11775 | $11542 | $11578 | $11515 |
| **12/31/2017** | $11937 | $11800 | $11840 | $11700 |
| **1/31/2018** | $12583 | $12458 | $12501 | $12287 |
| **2/28/2018** | $11887 | $11870 | $11914 | $11732 |
| **3/31/2018** | $11821 | $11661 | $11713 | $11521 |
| **4/30/2018** | $11887 | $11847 | $11910 | $11784 |
| **5/31/2018** | $11598 | $11573 | $11647 | $11519 |
| **6/30/2018** | $11225 | $11356 | $11433 | $11378 |
| **7/31/2018** | $11382 | $11627 | $11710 | $11658 |
| **8/31/2018** | $11283 | $11384 | $11467 | $11433 |
| **9/30/2018** | $11274 | $11436 | $11524 | $11532 |
| **10/31/2018** | $10206 | $10506 | $10588 | $10614 |
| **11/30/2018** | $10231 | $10605 | $10690 | $10601 |
| **12/31/2018** | $9796 | $10125 | $10210 | $10086 |
| **1/31/2019** | $10399 | $10890 | $10983 | $10749 |
| **2/28/2019** | $10603 | $11103 | $11199 | $11023 |
| **3/31/2019** | $10739 | $11169 | $11275 | $11093 |
| **4/30/2019** | $11044 | $11464 | $11581 | $11405 |
| **5/31/2019** | $10484 | $10849 | $10972 | $10857 |
| **6/30/2019** | $11222 | $11502 | $11638 | $11501 |
| **7/31/2019** | $10968 | $11363 | $11501 | $11355 |
| **8/31/2019** | $10806 | $11012 | $11148 | $11061 |
| **9/30/2019** | $10959 | $11295 | $11441 | $11378 |
| **10/31/2019** | $11341 | $11690 | $11842 | $11786 |
| **11/30/2019** | $11435 | $11793 | $11948 | $11919 |
| **12/31/2019** | $11931 | $12303 | $12469 | $12307 |
| **1/31/2020** | $11543 | $11973 | $12136 | $12050 |
| **2/29/2020** | $10844 | $11026 | $11178 | $10960 |
| **3/31/2020** | $9333 | $9430 | $9568 | $9498 |
| **4/30/2020** | $9998 | $10144 | $10300 | $10111 |
| **5/31/2020** | $10377 | $10476 | $10642 | $10551 |
| **6/30/2020** | $11034 | $10950 | $11127 | $10911 |
| **7/31/2020** | $11629 | $11438 | $11629 | $11165 |
| **8/31/2020** | $12078 | $11928 | $12129 | $11739 |
| **9/30/2020** | $11914 | $11635 | $11835 | $11434 |
| **10/31/2020** | $11742 | $11384 | $11583 | $10977 |
| **11/30/2020** | $13166 | $12916 | $13142 | $12679 |
| **12/31/2020** | $13994 | $13614 | $13856 | $13269 |
| **1/31/2021** | $13898 | $13644 | $13889 | $13127 |
| **2/28/2021** | $14239 | $13914 | $14166 | $13422 |
| **3/31/2021** | $14397 | $14089 | $14355 | $13730 |
| **4/30/2021** | $14904 | $14504 | $14786 | $14143 |
| **5/31/2021** | $15491 | $14958 | $15259 | $14605 |
| **6/30/2021** | $15281 | $14861 | $15165 | $14440 |
| **7/31/2021** | $15421 | $14616 | $14920 | $14549 |
| **8/31/2021** | $15762 | $14894 | $15206 | $14806 |
| **9/30/2021** | $15141 | $14417 | $14729 | $14376 |
| **10/31/2021** | $15683 | $14761 | $15084 | $14729 |
| **11/30/2021** | $15036 | $14096 | $14407 | $14044 |
| **12/31/2021** | $15685 | $14679 | $15006 | $14763 |
| **1/31/2022** | $14923 | $14138 | $14454 | $14050 |
| **2/28/2022** | $14279 | $13858 | $14170 | $13801 |
| **3/31/2022** | $14190 | $13880 | $14205 | $13890 |
| **4/30/2022** | $13289 | $13009 | $13322 | $12991 |
| **5/31/2022** | $13388 | $13102 | $13431 | $13089 |
| **6/30/2022** | $12358 | $11975 | $12282 | $11874 |
| **7/31/2022** | $12814 | $12385 | $12707 | $12466 |
| **8/31/2022** | $12259 | $11987 | $12301 | $11874 |
| **9/30/2022** | $11180 | $10789 | $11078 | $10763 |
| **10/31/2022** | $11685 | $11111 | $11411 | $11342 |
| **11/30/2022** | $13140 | $12423 | $12760 | $12619 |
| **12/31/2022** | $12765 | $12330 | $12670 | $12630 |
| **1/31/2023** | $13839 | $13330 | $13699 | $13652 |
| **2/28/2023** | $13261 | $12862 | $13220 | $13367 |
| **3/31/2023** | $13636 | $13177 | $13557 | $13699 |
| **4/30/2023** | $13818 | $13405 | $13803 | $14085 |
| **5/31/2023** | $13342 | $12918 | $13314 | $13489 |
| **6/30/2023** | $13980 | $13498 | $13919 | $14103 |
| **7/31/2023** | $14254 | $14046 | $14489 | $14560 |
| **8/31/2023** | $13808 | $13412 | $13838 | $14002 |
| **9/30/2023** | $13221 | $12988 | $13407 | $13523 |
| **10/31/2023** | $12744 | $12452 | $12856 | $12975 |
| **11/30/2023** | $13788 | $13573 | $14015 | $14180 |
| **12/31/2023** | $14376 | $14255 | $14723 | $14933 |
| **1/31/2024** | $14469 | $14114 | $14579 | $15019 |
| **2/29/2024** | $15264 | $14471 | $14951 | $15294 |
| **3/31/2024** | $15936 | $14923 | $15432 | $15797 |
| **4/30/2024** | $15461 | $14656 | $15167 | $15392 |
| **5/31/2024** | $16153 | $15081 | $15622 | $15988 |
| **6/30/2024** | $16101 | $15067 | $15613 | $15730 |
| **7/31/2024** | $16401 | $15415 | $15979 | $16192 |
| **8/31/2024** | $16835 | $15854 | $16438 | $16718 |
| **9/30/2024** | $17042 | $16281 | $16888 | $16873 |
| **10/31/2024** | $16246 | $15482 | $16067 | $15955 |
| **11/30/2024** | $16236 | $15342 | $15925 | $15865 |
| **12/31/2024** | $15773 | $15044 | $15620 | $15504 |
| **1/31/2025** | $16549 | $15650 | $16253 | $16319 |
| **2/28/2025** | $16970 | $15867 | $16481 | $16635 |
| **3/31/2025** | $16927 | $15832 | $16458 | $16568 |
| **4/30/2025** | $17574 | $16403 | $17065 | $17327 |
| **5/31/2025** | $18437 | $17154 | $17866 | $18120 |
| **6/30/2025** | $19171 | $17737 | $18482 | $18519 |
| **7/31/2025** | $18836 | $17686 | $18434 | $18259 |
| **8/31/2025** | $19311 | $18300 | $19086 | $19037 |
| **9/30/2025** | $19883 | $18959 | $19781 | $19402 |
| **10/31/2025** | $20250 | $19342 | $20184 | $19630 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | 24.64% | 11.52% | 8.58% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 8.00% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.53% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 8.18% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LICOX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8975-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LICYX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $74 | 0.66% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.60%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](id6518d1f515c81126d2d1326.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9866 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9732 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9261 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8966 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9453 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9509 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9557 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9190 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9693 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9748 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9844 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9685 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9309 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9584 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9854 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9903 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10149 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10444 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10689 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10697 | $11456 | $11555 | $11163 |
| **7/31/2017** | $11106 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11197 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11499 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11647 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11868 | $12492 | $12613 | $12071 |
| **12/31/2017** | $12030 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12683 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11980 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11921 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11980 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11696 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11319 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11470 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11378 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11369 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10290 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10315 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9875 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10483 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10689 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10826 | $12088 | $12283 | $11628 |
| **4/30/2019** | $11135 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10569 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11315 | $12448 | $12679 | $12056 |
| **7/31/2019** | $11049 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10895 | $11918 | $12145 | $11595 |
| **9/30/2019** | $11041 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11426 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11521 | $12763 | $13016 | $12495 |
| **12/31/2019** | $12021 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11628 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10922 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9405 | $10206 | $10423 | $9956 |
| **4/30/2020** | $10077 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10460 | $11338 | $11593 | $11061 |
| **6/30/2020** | $11123 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11715 | $12379 | $12668 | $11704 |
| **8/31/2020** | $12169 | $12909 | $13213 | $12306 |
| **9/30/2020** | $12012 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11829 | $12321 | $12618 | $11507 |
| **11/30/2020** | $13267 | $13978 | $14317 | $13291 |
| **12/31/2020** | $14101 | $14734 | $15095 | $13909 |
| **1/31/2021** | $14004 | $14766 | $15130 | $13761 |
| **2/28/2021** | $14339 | $15058 | $15432 | $14070 |
| **3/31/2021** | $14507 | $15248 | $15638 | $14393 |
| **4/30/2021** | $15011 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15603 | $16189 | $16623 | $15310 |
| **6/30/2021** | $15391 | $16083 | $16521 | $15137 |
| **7/31/2021** | $15532 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15877 | $16119 | $16565 | $15520 |
| **9/30/2021** | $15258 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15797 | $15975 | $16432 | $15441 |
| **11/30/2021** | $15143 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15796 | $15887 | $16347 | $15476 |
| **1/31/2022** | $15026 | $15301 | $15746 | $14728 |
| **2/28/2022** | $14376 | $14998 | $15437 | $14468 |
| **3/31/2022** | $14296 | $15022 | $15475 | $14561 |
| **4/30/2022** | $13376 | $14079 | $14513 | $13619 |
| **5/31/2022** | $13486 | $14180 | $14632 | $13721 |
| **6/30/2022** | $12447 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12907 | $13404 | $13842 | $13068 |
| **8/31/2022** | $12347 | $12973 | $13401 | $12447 |
| **9/30/2022** | $11257 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11767 | $12025 | $12431 | $11889 |
| **11/30/2022** | $13236 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12854 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13938 | $14426 | $14924 | $14311 |
| **2/28/2023** | $13355 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13733 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13907 | $14508 | $15036 | $14765 |
| **5/31/2023** | $13437 | $13980 | $14504 | $14141 |
| **6/30/2023** | $14071 | $14608 | $15163 | $14784 |
| **7/31/2023** | $14347 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13897 | $14515 | $15074 | $14678 |
| **9/30/2023** | $13304 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12823 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13877 | $14690 | $15268 | $14864 |
| **12/31/2023** | $14467 | $15428 | $16039 | $15654 |
| **1/31/2024** | $14561 | $15275 | $15882 | $15744 |
| **2/29/2024** | $15354 | $15661 | $16287 | $16032 |
| **3/31/2024** | $16032 | $16151 | $16811 | $16559 |
| **4/30/2024** | $15552 | $15861 | $16523 | $16135 |
| **5/31/2024** | $16251 | $16321 | $17018 | $16760 |
| **6/30/2024** | $16199 | $16306 | $17008 | $16490 |
| **7/31/2024** | $16491 | $16683 | $17407 | $16974 |
| **8/31/2024** | $16929 | $17158 | $17907 | $17525 |
| **9/30/2024** | $17138 | $17621 | $18397 | $17687 |
| **10/31/2024** | $16335 | $16756 | $17504 | $16725 |
| **11/30/2024** | $16335 | $16605 | $17348 | $16631 |
| **12/31/2024** | $15856 | $16282 | $17017 | $16252 |
| **1/31/2025** | $16640 | $16938 | $17705 | $17106 |
| **2/28/2025** | $17054 | $17173 | $17954 | $17438 |
| **3/31/2025** | $17021 | $17134 | $17929 | $17368 |
| **4/30/2025** | $17675 | $17753 | $18591 | $18163 |
| **5/31/2025** | $18535 | $18566 | $19462 | $18994 |
| **6/30/2025** | $19275 | $19196 | $20133 | $19413 |
| **7/31/2025** | $18938 | $19141 | $20082 | $19140 |
| **8/31/2025** | $19406 | $19805 | $20792 | $19956 |
| **9/30/2025** | $19983 | $20519 | $21549 | $20338 |
| **10/31/2025** | $20354 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | 24.60% | 11.47% | 7.37% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LICYX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1422-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class P

# LICPX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class P | $122 | 1.09% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.06%, reflecting performance at the net asset value (NAV) of Class P shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](icdc68013114a4238ad4e0ce5.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class P** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9865 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9723 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9251 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8946 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9435 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9483 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9531 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9154 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9651 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9707 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9795 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9635 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9259 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9528 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9790 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9839 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10068 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10362 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10599 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10599 | $11456 | $11555 | $11163 |
| **7/31/2017** | $10999 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11089 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11383 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11522 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11735 | $12492 | $12613 | $12071 |
| **12/31/2017** | $11895 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12535 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11828 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11762 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11820 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11529 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11155 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11304 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11204 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11188 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10123 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10148 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9703 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10305 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10500 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10627 | $12088 | $12283 | $11628 |
| **4/30/2019** | $10924 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10373 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11093 | $12448 | $12679 | $12056 |
| **7/31/2019** | $10830 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10669 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10813 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11186 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11280 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11757 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11371 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10676 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9183 | $10206 | $10423 | $9956 |
| **4/30/2020** | $9844 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10204 | $11338 | $11593 | $11061 |
| **6/30/2020** | $10848 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11423 | $12379 | $12668 | $11704 |
| **8/31/2020** | $11860 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11697 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11517 | $12321 | $12618 | $11507 |
| **11/30/2020** | $12916 | $13978 | $14317 | $13291 |
| **12/31/2020** | $13723 | $14734 | $15095 | $13909 |
| **1/31/2021** | $13619 | $14766 | $15130 | $13761 |
| **2/28/2021** | $13948 | $15058 | $15432 | $14070 |
| **3/31/2021** | $14104 | $15248 | $15638 | $14393 |
| **4/30/2021** | $14588 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15151 | $16189 | $16623 | $15310 |
| **6/30/2021** | $14943 | $16083 | $16521 | $15137 |
| **7/31/2021** | $15073 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15401 | $16119 | $16565 | $15520 |
| **9/30/2021** | $14787 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15306 | $15975 | $16432 | $15441 |
| **11/30/2021** | $14666 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15293 | $15887 | $16347 | $15476 |
| **1/31/2022** | $14542 | $15301 | $15746 | $14728 |
| **2/28/2022** | $13908 | $14998 | $15437 | $14468 |
| **3/31/2022** | $13821 | $15022 | $15475 | $14561 |
| **4/30/2022** | $12933 | $14079 | $14513 | $13619 |
| **5/31/2022** | $13031 | $14180 | $14632 | $13721 |
| **6/30/2022** | $12016 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12455 | $13404 | $13842 | $13068 |
| **8/31/2022** | $11919 | $12973 | $13401 | $12447 |
| **9/30/2022** | $10856 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11343 | $12025 | $12431 | $11889 |
| **11/30/2022** | $12748 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12375 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13417 | $14426 | $14924 | $14311 |
| **2/28/2023** | $12851 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13209 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13378 | $14508 | $15036 | $14765 |
| **5/31/2023** | $12921 | $13980 | $14504 | $14141 |
| **6/30/2023** | $13527 | $14608 | $15163 | $14784 |
| **7/31/2023** | $13785 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13348 | $14515 | $15074 | $14678 |
| **9/30/2023** | $12772 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12315 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13318 | $14690 | $15268 | $14864 |
| **12/31/2023** | $13881 | $15428 | $16039 | $15654 |
| **1/31/2024** | $13962 | $15275 | $15882 | $15744 |
| **2/29/2024** | $14718 | $15661 | $16287 | $16032 |
| **3/31/2024** | $15364 | $16151 | $16811 | $16559 |
| **4/30/2024** | $14890 | $15861 | $16523 | $16135 |
| **5/31/2024** | $15556 | $16321 | $17018 | $16760 |
| **6/30/2024** | $15505 | $16306 | $17008 | $16490 |
| **7/31/2024** | $15778 | $16683 | $17407 | $16974 |
| **8/31/2024** | $16191 | $17158 | $17907 | $17525 |
| **9/30/2024** | $16383 | $17621 | $18397 | $17687 |
| **10/31/2024** | $15616 | $16756 | $17504 | $16725 |
| **11/30/2024** | $15606 | $16605 | $17348 | $16631 |
| **12/31/2024** | $15147 | $16282 | $17017 | $16252 |
| **1/31/2025** | $15891 | $16938 | $17705 | $17106 |
| **2/28/2025** | $16280 | $17173 | $17954 | $17438 |
| **3/31/2025** | $16238 | $17134 | $17929 | $17368 |
| **4/30/2025** | $16856 | $17753 | $18591 | $18163 |
| **5/31/2025** | $17675 | $18566 | $19462 | $18994 |
| **6/30/2025** | $18367 | $19196 | $20133 | $19413 |
| **7/31/2025** | $18042 | $19141 | $20082 | $19140 |
| **8/31/2025** | $18482 | $19805 | $20792 | $19956 |
| **9/30/2025** | $19028 | $20519 | $21549 | $20338 |
| **10/31/2025** | $19374 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class P at NAV | 24.06% | 10.96% | 6.84% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class P

# LICPX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1421-P

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R2

# LICQX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R2 | $141 | 1.26% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 23.87%, reflecting performance at the net asset value (NAV) of Class R2 shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i00a215fdcfa5adc8360998bd.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R2** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9857 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9711 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9246 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8941 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9423 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9471 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9519 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9142 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9639 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9687 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9775 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9615 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9238 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9503 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9764 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9813 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10042 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10328 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10565 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10565 | $11456 | $11555 | $11163 |
| **7/31/2017** | $10965 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11047 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11341 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11480 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11693 | $12492 | $12613 | $12071 |
| **12/31/2017** | $11846 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12477 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11780 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11714 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11772 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11473 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11099 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11249 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11149 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11133 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10070 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10095 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9649 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10248 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10442 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10569 | $12088 | $12283 | $11628 |
| **4/30/2019** | $10864 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10307 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11024 | $12448 | $12679 | $12056 |
| **7/31/2019** | $10763 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10603 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10746 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11109 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11201 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11683 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11290 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10599 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9114 | $10206 | $10423 | $9956 |
| **4/30/2020** | $9771 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10129 | $11338 | $11593 | $11061 |
| **6/30/2020** | $10769 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11341 | $12379 | $12668 | $11704 |
| **8/31/2020** | $11768 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11606 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11427 | $12321 | $12618 | $11507 |
| **11/30/2020** | $12809 | $13978 | $14317 | $13291 |
| **12/31/2020** | $13610 | $14734 | $15095 | $13909 |
| **1/31/2021** | $13507 | $14766 | $15130 | $13761 |
| **2/28/2021** | $13825 | $15058 | $15432 | $14070 |
| **3/31/2021** | $13979 | $15248 | $15638 | $14393 |
| **4/30/2021** | $14460 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15018 | $16189 | $16623 | $15310 |
| **6/30/2021** | $14803 | $16083 | $16521 | $15137 |
| **7/31/2021** | $14932 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15258 | $16119 | $16565 | $15520 |
| **9/30/2021** | $14649 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15164 | $15975 | $16432 | $15441 |
| **11/30/2021** | $14529 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15146 | $15887 | $16347 | $15476 |
| **1/31/2022** | $14402 | $15301 | $15746 | $14728 |
| **2/28/2022** | $13774 | $14998 | $15437 | $14468 |
| **3/31/2022** | $13677 | $15022 | $15475 | $14561 |
| **4/30/2022** | $12798 | $14079 | $14513 | $13619 |
| **5/31/2022** | $12895 | $14180 | $14632 | $13721 |
| **6/30/2022** | $11890 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12325 | $13404 | $13842 | $13068 |
| **8/31/2022** | $11784 | $12973 | $13401 | $12447 |
| **9/30/2022** | $10741 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11224 | $12025 | $12431 | $11889 |
| **11/30/2022** | $12605 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12240 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13262 | $14426 | $14924 | $14311 |
| **2/28/2023** | $12702 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13056 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13223 | $14508 | $15036 | $14765 |
| **5/31/2023** | $12771 | $13980 | $14504 | $14141 |
| **6/30/2023** | $13360 | $14608 | $15163 | $14784 |
| **7/31/2023** | $13616 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13183 | $14515 | $15074 | $14678 |
| **9/30/2023** | $12614 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12152 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13144 | $14690 | $15268 | $14864 |
| **12/31/2023** | $13705 | $15428 | $16039 | $15654 |
| **1/31/2024** | $13775 | $15275 | $15882 | $15744 |
| **2/29/2024** | $14522 | $15661 | $16287 | $16032 |
| **3/31/2024** | $15160 | $16151 | $16811 | $16559 |
| **4/30/2024** | $14692 | $15861 | $16523 | $16135 |
| **5/31/2024** | $15349 | $16321 | $17018 | $16760 |
| **6/30/2024** | $15290 | $16306 | $17008 | $16490 |
| **7/31/2024** | $15559 | $16683 | $17407 | $16974 |
| **8/31/2024** | $15967 | $17158 | $17907 | $17525 |
| **9/30/2024** | $16147 | $17621 | $18397 | $17687 |
| **10/31/2024** | $15389 | $16756 | $17504 | $16725 |
| **11/30/2024** | $15379 | $16605 | $17348 | $16631 |
| **12/31/2024** | $14923 | $16282 | $17017 | $16252 |
| **1/31/2025** | $15658 | $16938 | $17705 | $17106 |
| **2/28/2025** | $16041 | $17173 | $17954 | $17438 |
| **3/31/2025** | $15989 | $17134 | $17929 | $17368 |
| **4/30/2025** | $16600 | $17753 | $18591 | $18163 |
| **5/31/2025** | $17397 | $18566 | $19462 | $18994 |
| **6/30/2025** | $18080 | $19196 | $20133 | $19413 |
| **7/31/2025** | $17759 | $19141 | $20082 | $19140 |
| **8/31/2025** | $18193 | $19805 | $20792 | $19956 |
| **9/30/2025** | $18721 | $20519 | $21549 | $20338 |
| **10/31/2025** | $19063 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R2 at NAV | 23.87% | 10.78% | 6.66% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R2

# LICQX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1096-R2

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LICRX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $130 | 1.16% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.01%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i36d8213e55ee952329ce5d30.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R3** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9855 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9718 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9247 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8938 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9426 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9474 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9523 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9149 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9645 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9694 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9783 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9621 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9247 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9520 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9777 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9826 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10059 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10349 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10589 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10589 | $11456 | $11555 | $11163 |
| **7/31/2017** | $10987 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11070 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11369 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11510 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11717 | $12492 | $12613 | $12071 |
| **12/31/2017** | $11872 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12513 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11813 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11745 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11804 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11509 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11138 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11281 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11188 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11171 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10108 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10125 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9688 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10281 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10479 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10608 | $12088 | $12283 | $11628 |
| **4/30/2019** | $10909 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10350 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11072 | $12448 | $12679 | $12056 |
| **7/31/2019** | $10806 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10642 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10789 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11158 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11253 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11736 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11345 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10649 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9161 | $10206 | $10423 | $9956 |
| **4/30/2020** | $9813 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10179 | $11338 | $11593 | $11061 |
| **6/30/2020** | $10814 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11388 | $12379 | $12668 | $11704 |
| **8/31/2020** | $11823 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11666 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11484 | $12321 | $12618 | $11507 |
| **11/30/2020** | $12876 | $13978 | $14317 | $13291 |
| **12/31/2020** | $13681 | $14734 | $15095 | $13909 |
| **1/31/2021** | $13575 | $14766 | $15130 | $13761 |
| **2/28/2021** | $13900 | $15058 | $15432 | $14070 |
| **3/31/2021** | $14058 | $15248 | $15638 | $14393 |
| **4/30/2021** | $14541 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15102 | $16189 | $16623 | $15310 |
| **6/30/2021** | $14892 | $16083 | $16521 | $15137 |
| **7/31/2021** | $15023 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15348 | $16119 | $16565 | $15520 |
| **9/30/2021** | $14734 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15252 | $15975 | $16432 | $15441 |
| **11/30/2021** | $14620 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15238 | $15887 | $16347 | $15476 |
| **1/31/2022** | $14495 | $15301 | $15746 | $14728 |
| **2/28/2022** | $13861 | $14998 | $15437 | $14468 |
| **3/31/2022** | $13772 | $15022 | $15475 | $14561 |
| **4/30/2022** | $12890 | $14079 | $14513 | $13619 |
| **5/31/2022** | $12979 | $14180 | $14632 | $13721 |
| **6/30/2022** | $11979 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12405 | $13404 | $13842 | $13068 |
| **8/31/2022** | $11870 | $12973 | $13401 | $12447 |
| **9/30/2022** | $10819 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11305 | $12025 | $12431 | $11889 |
| **11/30/2022** | $12702 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12328 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13367 | $14426 | $14924 | $14311 |
| **2/28/2023** | $12802 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13155 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13326 | $14508 | $15036 | $14765 |
| **5/31/2023** | $12862 | $13980 | $14504 | $14141 |
| **6/30/2023** | $13467 | $14608 | $15163 | $14784 |
| **7/31/2023** | $13730 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13286 | $14515 | $15074 | $14678 |
| **9/30/2023** | $12721 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12257 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13256 | $14690 | $15268 | $14864 |
| **12/31/2023** | $13816 | $15428 | $16039 | $15654 |
| **1/31/2024** | $13898 | $15275 | $15882 | $15744 |
| **2/29/2024** | $14646 | $15661 | $16287 | $16032 |
| **3/31/2024** | $15291 | $16151 | $16811 | $16559 |
| **4/30/2024** | $14820 | $15861 | $16523 | $16135 |
| **5/31/2024** | $15475 | $16321 | $17018 | $16760 |
| **6/30/2024** | $15424 | $16306 | $17008 | $16490 |
| **7/31/2024** | $15701 | $16683 | $17407 | $16974 |
| **8/31/2024** | $16110 | $17158 | $17907 | $17525 |
| **9/30/2024** | $16295 | $17621 | $18397 | $17687 |
| **10/31/2024** | $15527 | $16756 | $17504 | $16725 |
| **11/30/2024** | $15516 | $16605 | $17348 | $16631 |
| **12/31/2024** | $15058 | $16282 | $17017 | $16252 |
| **1/31/2025** | $15804 | $16938 | $17705 | $17106 |
| **2/28/2025** | $16187 | $17173 | $17954 | $17438 |
| **3/31/2025** | $16144 | $17134 | $17929 | $17368 |
| **4/30/2025** | $16762 | $17753 | $18591 | $18163 |
| **5/31/2025** | $17571 | $18566 | $19462 | $18994 |
| **6/30/2025** | $18253 | $19196 | $20133 | $19413 |
| **7/31/2025** | $17933 | $19141 | $20082 | $19140 |
| **8/31/2025** | $18370 | $19805 | $20792 | $19956 |
| **9/30/2025** | $18903 | $20519 | $21549 | $20338 |
| **10/31/2025** | $19254 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R3 at NAV | 24.01% | 10.89% | 6.77% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LICRX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2070-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LICSX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $102 | 0.91% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.31%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](id0c254ac2b8be739a84d3fd3.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R4** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9857 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9725 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9251 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8954 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9436 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9492 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9541 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9163 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9669 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9717 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9806 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9645 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9275 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9544 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9807 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9856 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10094 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10390 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10629 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10637 | $11456 | $11555 | $11163 |
| **7/31/2017** | $11040 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11122 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11418 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11566 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11780 | $12492 | $12613 | $12071 |
| **12/31/2017** | $11937 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12583 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11887 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11820 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11878 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11585 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11215 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11366 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11266 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11257 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10183 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10208 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9768 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10369 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10567 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10704 | $12088 | $12283 | $11628 |
| **4/30/2019** | $11004 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10446 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11176 | $12448 | $12679 | $12056 |
| **7/31/2019** | $10910 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10755 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10901 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11279 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11365 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11854 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11471 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10766 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9267 | $10206 | $10423 | $9956 |
| **4/30/2020** | $9929 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10295 | $11338 | $11593 | $11061 |
| **6/30/2020** | $10948 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11532 | $12379 | $12668 | $11704 |
| **8/31/2020** | $11976 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11819 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11637 | $12321 | $12618 | $11507 |
| **11/30/2020** | $13048 | $13978 | $14317 | $13291 |
| **12/31/2020** | $13860 | $14734 | $15095 | $13909 |
| **1/31/2021** | $13763 | $14766 | $15130 | $13761 |
| **2/28/2021** | $14098 | $15058 | $15432 | $14070 |
| **3/31/2021** | $14256 | $15248 | $15638 | $14393 |
| **4/30/2021** | $14750 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15322 | $16189 | $16623 | $15310 |
| **6/30/2021** | $15111 | $16083 | $16521 | $15137 |
| **7/31/2021** | $15243 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15578 | $16119 | $16565 | $15520 |
| **9/30/2021** | $14961 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15490 | $15975 | $16432 | $15441 |
| **11/30/2021** | $14847 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15484 | $15887 | $16347 | $15476 |
| **1/31/2022** | $14726 | $15301 | $15746 | $14728 |
| **2/28/2022** | $14089 | $14998 | $15437 | $14468 |
| **3/31/2022** | $13999 | $15022 | $15475 | $14561 |
| **4/30/2022** | $13102 | $14079 | $14513 | $13619 |
| **5/31/2022** | $13202 | $14180 | $14632 | $13721 |
| **6/30/2022** | $12176 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12624 | $13404 | $13842 | $13068 |
| **8/31/2022** | $12076 | $12973 | $13401 | $12447 |
| **9/30/2022** | $11010 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11508 | $12025 | $12431 | $11889 |
| **11/30/2022** | $12933 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12561 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13608 | $14426 | $14924 | $14311 |
| **2/28/2023** | $13039 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13405 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13578 | $14508 | $15036 | $14765 |
| **5/31/2023** | $13120 | $13980 | $14504 | $14141 |
| **6/30/2023** | $13730 | $14608 | $15163 | $14784 |
| **7/31/2023** | $13995 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13557 | $14515 | $15074 | $14678 |
| **9/30/2023** | $12977 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12510 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13527 | $14690 | $15268 | $14864 |
| **12/31/2023** | $14108 | $15428 | $16039 | $15654 |
| **1/31/2024** | $14191 | $15275 | $15882 | $15744 |
| **2/29/2024** | $14967 | $15661 | $16287 | $16032 |
| **3/31/2024** | $15619 | $16151 | $16811 | $16559 |
| **4/30/2024** | $15143 | $15861 | $16523 | $16135 |
| **5/31/2024** | $15826 | $16321 | $17018 | $16760 |
| **6/30/2024** | $15774 | $16306 | $17008 | $16490 |
| **7/31/2024** | $16054 | $16683 | $17407 | $16974 |
| **8/31/2024** | $16468 | $17158 | $17907 | $17525 |
| **9/30/2024** | $16665 | $17621 | $18397 | $17687 |
| **10/31/2024** | $15888 | $16756 | $17504 | $16725 |
| **11/30/2024** | $15878 | $16605 | $17348 | $16631 |
| **12/31/2024** | $15411 | $16282 | $17017 | $16252 |
| **1/31/2025** | $16178 | $16938 | $17705 | $17106 |
| **2/28/2025** | $16577 | $17173 | $17954 | $17438 |
| **3/31/2025** | $16534 | $17134 | $17929 | $17368 |
| **4/30/2025** | $17171 | $17753 | $18591 | $18163 |
| **5/31/2025** | $18002 | $18566 | $19462 | $18994 |
| **6/30/2025** | $18714 | $19196 | $20133 | $19413 |
| **7/31/2025** | $18379 | $19141 | $20082 | $19140 |
| **8/31/2025** | $18833 | $19805 | $20792 | $19956 |
| **9/30/2025** | $19383 | $20519 | $21549 | $20338 |
| **10/31/2025** | $19750 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R4 at NAV | 24.31% | 11.16% | 7.04% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LICSX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8720-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LICTX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $74 | 0.66% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.60%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i972d4064b7e297a860a3e01a.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R5** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9859 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9724 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9261 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8958 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9445 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9501 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9549 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9182 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9685 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9740 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9828 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9669 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9301 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9575 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9837 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9894 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10131 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10426 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10671 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10671 | $11456 | $11555 | $11163 |
| **7/31/2017** | $11081 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11171 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11465 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11612 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11833 | $12492 | $12613 | $12071 |
| **12/31/2017** | $11996 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12648 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11946 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11887 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11946 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11653 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11276 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11435 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11335 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11327 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10256 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10281 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9832 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10441 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10646 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10784 | $12088 | $12283 | $11628 |
| **4/30/2019** | $11092 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10526 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11272 | $12448 | $12679 | $12056 |
| **7/31/2019** | $11007 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10844 | $11918 | $12145 | $11595 |
| **9/30/2019** | $10998 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11384 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11478 | $12763 | $13016 | $12495 |
| **12/31/2019** | $11970 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11577 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10871 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9354 | $10206 | $10423 | $9956 |
| **4/30/2020** | $10034 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10409 | $11338 | $11593 | $11061 |
| **6/30/2020** | $11063 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11656 | $12379 | $12668 | $11704 |
| **8/31/2020** | $12109 | $12909 | $13213 | $12306 |
| **9/30/2020** | $11952 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11769 | $12321 | $12618 | $11507 |
| **11/30/2020** | $13199 | $13978 | $14317 | $13291 |
| **12/31/2020** | $14033 | $14734 | $15095 | $13909 |
| **1/31/2021** | $13936 | $14766 | $15130 | $13761 |
| **2/28/2021** | $14272 | $15058 | $15432 | $14070 |
| **3/31/2021** | $14431 | $15248 | $15638 | $14393 |
| **4/30/2021** | $14935 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15527 | $16189 | $16623 | $15310 |
| **6/30/2021** | $15315 | $16083 | $16521 | $15137 |
| **7/31/2021** | $15456 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15792 | $16119 | $16565 | $15520 |
| **9/30/2021** | $15173 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15712 | $15975 | $16432 | $15441 |
| **11/30/2021** | $15058 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15710 | $15887 | $16347 | $15476 |
| **1/31/2022** | $14939 | $15301 | $15746 | $14728 |
| **2/28/2022** | $14299 | $14998 | $15437 | $14468 |
| **3/31/2022** | $14209 | $15022 | $15475 | $14561 |
| **4/30/2022** | $13308 | $14079 | $14513 | $13619 |
| **5/31/2022** | $13408 | $14180 | $14632 | $13721 |
| **6/30/2022** | $12368 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12828 | $13404 | $13842 | $13068 |
| **8/31/2022** | $12277 | $12973 | $13401 | $12447 |
| **9/30/2022** | $11187 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11697 | $12025 | $12431 | $11889 |
| **11/30/2022** | $13148 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12765 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13840 | $14426 | $14924 | $14311 |
| **2/28/2023** | $13267 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13646 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13820 | $14508 | $15036 | $14765 |
| **5/31/2023** | $13349 | $13980 | $14504 | $14141 |
| **6/30/2023** | $13984 | $14608 | $15163 | $14784 |
| **7/31/2023** | $14260 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13810 | $14515 | $15074 | $14678 |
| **9/30/2023** | $13226 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12745 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13789 | $14690 | $15268 | $14864 |
| **12/31/2023** | $14380 | $15428 | $16039 | $15654 |
| **1/31/2024** | $14474 | $15275 | $15882 | $15744 |
| **2/29/2024** | $15257 | $15661 | $16287 | $16032 |
| **3/31/2024** | $15936 | $16151 | $16811 | $16559 |
| **4/30/2024** | $15456 | $15861 | $16523 | $16135 |
| **5/31/2024** | $16145 | $16321 | $17018 | $16760 |
| **6/30/2024** | $16093 | $16306 | $17008 | $16490 |
| **7/31/2024** | $16385 | $16683 | $17407 | $16974 |
| **8/31/2024** | $16824 | $17158 | $17907 | $17525 |
| **9/30/2024** | $17022 | $17621 | $18397 | $17687 |
| **10/31/2024** | $16228 | $16756 | $17504 | $16725 |
| **11/30/2024** | $16228 | $16605 | $17348 | $16631 |
| **12/31/2024** | $15760 | $16282 | $17017 | $16252 |
| **1/31/2025** | $16534 | $16938 | $17705 | $17106 |
| **2/28/2025** | $16948 | $17173 | $17954 | $17438 |
| **3/31/2025** | $16916 | $17134 | $17929 | $17368 |
| **4/30/2025** | $17559 | $17753 | $18591 | $18163 |
| **5/31/2025** | $18421 | $18566 | $19462 | $18994 |
| **6/30/2025** | $19151 | $19196 | $20133 | $19413 |
| **7/31/2025** | $18813 | $19141 | $20082 | $19140 |
| **8/31/2025** | $19282 | $19805 | $20792 | $19956 |
| **9/30/2025** | $19849 | $20519 | $21549 | $20338 |
| **10/31/2025** | $20220 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R5 at NAV | 24.60% | 11.43% | 7.29% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LICTX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8752-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LICVX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $67 | 0.60% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 24.66%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 24.93% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Ex USA Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Rheinmetall AG. Security selection within the Financials sector also contributed to relative performance, led by an overweight allocation Commerzbank AG.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an overweight allocation to Brunello Cucinelli S.p.A. Security selection within the Information Technology sector also detracted from relative performance, led by an overweight allocation to Xiaomi Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i0b0ea3914b582e9231d38704.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **MSCI ACWI Ex USA Index with Net Dividends** | **MSCI ACWI Ex USA Index with Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9859 | $9793 | $9795 | $9844 |
| **12/31/2015** | $9726 | $9609 | $9613 | $9712 |
| **1/31/2016** | $9263 | $8955 | $8961 | $9009 |
| **2/29/2016** | $8960 | $8853 | $8861 | $8844 |
| **3/31/2016** | $9447 | $9573 | $9588 | $9420 |
| **4/30/2016** | $9511 | $9825 | $9849 | $9693 |
| **5/31/2016** | $9559 | $9659 | $9692 | $9605 |
| **6/30/2016** | $9184 | $9511 | $9549 | $9282 |
| **7/31/2016** | $9694 | $9981 | $10024 | $9753 |
| **8/31/2016** | $9750 | $10045 | $10089 | $9760 |
| **9/30/2016** | $9846 | $10168 | $10218 | $9879 |
| **10/31/2016** | $9686 | $10022 | $10072 | $9677 |
| **11/30/2016** | $9319 | $9791 | $9840 | $9485 |
| **12/31/2016** | $9588 | $10041 | $10095 | $9809 |
| **1/31/2017** | $9858 | $10396 | $10454 | $10093 |
| **2/28/2017** | $9915 | $10562 | $10622 | $10238 |
| **3/31/2017** | $10152 | $10830 | $10901 | $10520 |
| **4/30/2017** | $10455 | $11062 | $11141 | $10787 |
| **5/31/2017** | $10700 | $11421 | $11514 | $11183 |
| **6/30/2017** | $10700 | $11456 | $11555 | $11163 |
| **7/31/2017** | $11109 | $11879 | $11984 | $11485 |
| **8/31/2017** | $11207 | $11941 | $12049 | $11481 |
| **9/30/2017** | $11502 | $12162 | $12277 | $11767 |
| **10/31/2017** | $11657 | $12391 | $12509 | $11945 |
| **11/30/2017** | $11878 | $12492 | $12613 | $12071 |
| **12/31/2017** | $12042 | $12771 | $12899 | $12265 |
| **1/31/2018** | $12694 | $13482 | $13618 | $12880 |
| **2/28/2018** | $11992 | $12847 | $12978 | $12298 |
| **3/31/2018** | $11933 | $12620 | $12760 | $12077 |
| **4/30/2018** | $11992 | $12821 | $12974 | $12352 |
| **5/31/2018** | $11699 | $12525 | $12688 | $12075 |
| **6/30/2018** | $11323 | $12290 | $12454 | $11927 |
| **7/31/2018** | $11482 | $12584 | $12756 | $12221 |
| **8/31/2018** | $11390 | $12321 | $12492 | $11985 |
| **9/30/2018** | $11381 | $12377 | $12554 | $12089 |
| **10/31/2018** | $10303 | $11370 | $11534 | $11127 |
| **11/30/2018** | $10328 | $11478 | $11645 | $11113 |
| **12/31/2018** | $9881 | $10958 | $11122 | $10573 |
| **1/31/2019** | $10498 | $11786 | $11964 | $11268 |
| **2/28/2019** | $10703 | $12016 | $12200 | $11555 |
| **3/31/2019** | $10840 | $12088 | $12283 | $11628 |
| **4/30/2019** | $11149 | $12407 | $12616 | $11955 |
| **5/31/2019** | $10583 | $11742 | $11953 | $11381 |
| **6/30/2019** | $11329 | $12448 | $12679 | $12056 |
| **7/31/2019** | $11063 | $12298 | $12529 | $11903 |
| **8/31/2019** | $10900 | $11918 | $12145 | $11595 |
| **9/30/2019** | $11055 | $12225 | $12463 | $11927 |
| **10/31/2019** | $11440 | $12651 | $12900 | $12356 |
| **11/30/2019** | $11534 | $12763 | $13016 | $12495 |
| **12/31/2019** | $12036 | $13316 | $13583 | $12901 |
| **1/31/2020** | $11644 | $12958 | $13220 | $12631 |
| **2/29/2020** | $10938 | $11933 | $12177 | $11490 |
| **3/31/2020** | $9413 | $10206 | $10423 | $9956 |
| **4/30/2020** | $10093 | $10979 | $11220 | $10599 |
| **5/31/2020** | $10467 | $11338 | $11593 | $11061 |
| **6/30/2020** | $11138 | $11850 | $12122 | $11437 |
| **7/31/2020** | $11731 | $12379 | $12668 | $11704 |
| **8/31/2020** | $12184 | $12909 | $13213 | $12306 |
| **9/30/2020** | $12027 | $12592 | $12893 | $11986 |
| **10/31/2020** | $11844 | $12321 | $12618 | $11507 |
| **11/30/2020** | $13282 | $13978 | $14317 | $13291 |
| **12/31/2020** | $14118 | $14734 | $15095 | $13909 |
| **1/31/2021** | $14021 | $14766 | $15130 | $13761 |
| **2/28/2021** | $14366 | $15058 | $15432 | $14070 |
| **3/31/2021** | $14534 | $15248 | $15638 | $14393 |
| **4/30/2021** | $15037 | $15698 | $16108 | $14826 |
| **5/31/2021** | $15629 | $16189 | $16623 | $15310 |
| **6/30/2021** | $15417 | $16083 | $16521 | $15137 |
| **7/31/2021** | $15559 | $15819 | $16253 | $15251 |
| **8/31/2021** | $15903 | $16119 | $16565 | $15520 |
| **9/30/2021** | $15276 | $15603 | $16045 | $15070 |
| **10/31/2021** | $15824 | $15975 | $16432 | $15441 |
| **11/30/2021** | $15170 | $15256 | $15694 | $14722 |
| **12/31/2021** | $15826 | $15887 | $16347 | $15476 |
| **1/31/2022** | $15056 | $15301 | $15746 | $14728 |
| **2/28/2022** | $14406 | $14998 | $15437 | $14468 |
| **3/31/2022** | $14316 | $15022 | $15475 | $14561 |
| **4/30/2022** | $13406 | $14079 | $14513 | $13619 |
| **5/31/2022** | $13516 | $14180 | $14632 | $13721 |
| **6/30/2022** | $12467 | $12960 | $13379 | $12448 |
| **7/31/2022** | $12926 | $13404 | $13842 | $13068 |
| **8/31/2022** | $12377 | $12973 | $13401 | $12447 |
| **9/30/2022** | $11277 | $11676 | $12068 | $11283 |
| **10/31/2022** | $11787 | $12025 | $12431 | $11889 |
| **11/30/2022** | $13256 | $13445 | $13900 | $13229 |
| **12/31/2022** | $12877 | $13344 | $13802 | $13239 |
| **1/31/2023** | $13961 | $14426 | $14924 | $14311 |
| **2/28/2023** | $13378 | $13920 | $14402 | $14013 |
| **3/31/2023** | $13757 | $14261 | $14768 | $14360 |
| **4/30/2023** | $13941 | $14508 | $15036 | $14765 |
| **5/31/2023** | $13470 | $13980 | $14504 | $14141 |
| **6/30/2023** | $14104 | $14608 | $15163 | $14784 |
| **7/31/2023** | $14380 | $15202 | $15784 | $15263 |
| **8/31/2023** | $13930 | $14515 | $15074 | $14678 |
| **9/30/2023** | $13337 | $14057 | $14605 | $14176 |
| **10/31/2023** | $12856 | $13477 | $14005 | $13602 |
| **11/30/2023** | $13910 | $14690 | $15268 | $14864 |
| **12/31/2023** | $14514 | $15428 | $16039 | $15654 |
| **1/31/2024** | $14597 | $15275 | $15882 | $15744 |
| **2/29/2024** | $15401 | $15661 | $16287 | $16032 |
| **3/31/2024** | $16079 | $16151 | $16811 | $16559 |
| **4/30/2024** | $15599 | $15861 | $16523 | $16135 |
| **5/31/2024** | $16298 | $16321 | $17018 | $16760 |
| **6/30/2024** | $16246 | $16306 | $17008 | $16490 |
| **7/31/2024** | $16538 | $16683 | $17407 | $16974 |
| **8/31/2024** | $16987 | $17158 | $17907 | $17525 |
| **9/30/2024** | $17185 | $17621 | $18397 | $17687 |
| **10/31/2024** | $16392 | $16756 | $17504 | $16725 |
| **11/30/2024** | $16381 | $16605 | $17348 | $16631 |
| **12/31/2024** | $15913 | $16282 | $17017 | $16252 |
| **1/31/2025** | $16698 | $16938 | $17705 | $17106 |
| **2/28/2025** | $17122 | $17173 | $17954 | $17438 |
| **3/31/2025** | $17079 | $17134 | $17929 | $17368 |
| **4/30/2025** | $17732 | $17753 | $18591 | $18163 |
| **5/31/2025** | $18604 | $18566 | $19462 | $18994 |
| **6/30/2025** | $19344 | $19196 | $20133 | $19413 |
| **7/31/2025** | $19007 | $19141 | $20082 | $19140 |
| **8/31/2025** | $19486 | $19805 | $20792 | $19956 |
| **9/30/2025** | $20052 | $20519 | $21549 | $20338 |
| **10/31/2025** | $20434 | $20933 | $21988 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R6 at NAV | 24.66% | 11.52% | 7.41% |
| MSCI ACWI Ex USA Index with Net Dividends | 24.93% | 11.18% | 7.67% |
| MSCI ACWI Ex USA Index with Gross Dividends | 25.62% | 11.75% | 8.20% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $500838825 |
| # of Portfolio Holdings | 108 |
| Portfolio Turnover Rate | 102% |
| Total Advisory Fees Paid | $1747585 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 6.35% |
| Consumer Discretionary | 9.26% |
| Consumer Staples | 5.59% |
| Energy | 3.30% |
| Financials | 22.50% |
| Health Care | 7.47% |
| Industrials | 19.78% |
| Information Technology | 16.09% |
| Materials | 5.62% |
| Real Estate | 0.65% |
| Utilities | 1.40% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.56% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.06% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LICVX

# Lord Abbett International Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8784-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# ALFAX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $46 | 0.44% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.13%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i5250f755e20b0bcca3461efb.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class A with load** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $9424 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9586 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9268 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $8480 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8373 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9019 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9077 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9297 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9213 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $9708 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $9803 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $9931 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $9510 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10078 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10121 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10329 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $10497 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $10596 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $10743 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $10764 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11013 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11202 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11173 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $11644 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $11845 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12115 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $12204 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $12640 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $12241 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $12305 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $12388 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $12998 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13099 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $13136 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $13934 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $13833 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $12214 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $12264 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11052 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $12228 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $12931 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $12759 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $13210 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $12298 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $13221 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $13210 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $12684 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $12679 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $12904 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $13355 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $13796 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $13562 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $12516 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $9845 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $11236 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $12276 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $12749 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $13316 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $13931 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $13685 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $13900 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $16103 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $17394 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $17752 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $19088 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $19142 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $19979 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $19806 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $19846 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $19587 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $19979 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $19354 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $20198 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $19288 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $19991 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $18063 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $18014 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $17797 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $16163 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $16219 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $14704 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $15980 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $15532 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $14101 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $15300 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $16002 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $15305 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $16663 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $16476 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $16220 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $16138 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $15913 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $16791 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $17413 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $16723 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $15688 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $14690 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $16033 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $17434 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $17254 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $18120 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $18716 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $17630 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $18595 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $18444 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $19515 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $19771 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $19914 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $19522 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $21098 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $19733 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $20097 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $18980 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $17978 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $18038 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $18912 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $19976 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $20181 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $20948 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $21268 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $21306 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | 9.13% | 8.92% | 8.50% |
| Class A with sales charge | 2.86% | 7.63% | 7.86% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# ALFAX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-265-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# ALFCX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $124 | 1.19% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.26%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iaf5b1a3e2e34f9b56098d40a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class C with load** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10168 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9820 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $8979 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8861 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9537 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9593 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9820 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9729 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10243 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10335 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10466 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10012 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10605 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10647 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10860 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11028 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11122 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11271 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11286 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11543 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11731 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11691 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12181 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12384 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12656 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $12744 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13185 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $12767 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $12823 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $12902 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13529 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13625 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $13653 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14473 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14360 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $12671 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $12716 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11447 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $12666 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13380 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13198 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $13649 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $12700 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $13649 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $13629 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13077 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13064 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13286 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $13744 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14189 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $13941 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $12857 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10113 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $11525 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $12586 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13064 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $13630 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $14253 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $13997 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14213 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $16454 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $17756 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $18105 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $19467 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $19502 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $20349 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $20157 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $20183 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $19912 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $20296 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $19650 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $20488 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $19554 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $20259 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $18291 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $18226 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $18004 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $16333 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $16380 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $14839 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $16120 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $15656 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $14208 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $15405 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $16101 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $15388 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $16752 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $16550 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $16278 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $16187 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $15954 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $16823 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $17440 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $16742 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $15681 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $14681 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $16015 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $17398 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $17205 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $18068 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $18647 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $17550 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $18505 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $18342 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $19389 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $19632 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $19764 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $19368 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $20912 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $19554 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $19892 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $18785 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $17780 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $17821 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $18682 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $19718 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $19902 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $20651 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $20958 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $20969 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class C at NAV | 8.26% | 8.09% | 7.69% |
| Class C with sales charge | 7.26% | 8.09% | 7.69% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# ALFCX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-679-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# ALFFX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $30 | 0.29% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.27%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ic0b7629acee9ef5223f79a45.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class F** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10174 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9837 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $9001 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8889 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9572 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9638 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9872 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9786 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10311 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10415 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10551 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10105 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10711 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10760 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10981 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11159 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11268 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11424 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11446 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11719 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11919 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11888 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12392 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12609 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12895 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $12994 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13455 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $13037 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $13105 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $13198 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13849 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13955 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $13999 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14849 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14742 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $13018 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $13076 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11778 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $13041 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13791 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13609 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $14087 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $13120 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $14104 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $14098 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13541 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13535 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13774 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $14258 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14731 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $14483 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $13370 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10517 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $12002 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $13109 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13624 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $14229 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $14887 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $14627 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14861 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $17219 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $18601 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $18981 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $20417 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $20473 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $21374 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $21191 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $21240 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $20966 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $21388 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $20719 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $21627 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $20649 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $21409 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $19351 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $19299 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $19068 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $17322 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $17381 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $15761 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $17136 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $16653 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $15122 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $16415 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $17166 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $16419 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $17881 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $17674 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $17404 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $17317 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $17078 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $18024 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $18699 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $17960 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $16848 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $15784 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $17221 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $18729 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $18537 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $19472 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $20111 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $18953 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $19983 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $19831 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $20981 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $21261 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $21413 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $21005 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $22690 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $21227 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $21622 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $20429 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $19349 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $19413 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $20364 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $21509 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $21735 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $22557 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $22912 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $22952 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class F at NAV | 9.27% | 9.08% | 8.66% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# ALFFX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1025-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# ALFOX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $10 | 0.10% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.48%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iec13307a5aca748670d51c19.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class F3** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **4/4/2017** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **4/30/2017** | $10218 | $10240 | $10257 | $10298 | $10112 |
| **5/31/2017** | $10241 | $10032 | $10142 | $10110 | $10254 |
| **6/30/2017** | $10486 | $10378 | $10447 | $10361 | $10318 |
| **7/31/2017** | $10665 | $10455 | $10566 | $10442 | $10530 |
| **8/31/2017** | $10639 | $10322 | $10464 | $10271 | $10562 |
| **9/30/2017** | $11094 | $10967 | $11061 | $10868 | $10780 |
| **10/31/2017** | $11289 | $11060 | $11164 | $10995 | $11032 |
| **11/30/2017** | $11545 | $11379 | $11467 | $11293 | $11370 |
| **12/31/2017** | $11636 | $11333 | $11479 | $11271 | $11496 |
| **1/31/2018** | $12055 | $11629 | $11818 | $11544 | $12155 |
| **2/28/2018** | $11679 | $11179 | $11354 | $11051 | $11707 |
| **3/31/2018** | $11743 | $11323 | $11457 | $11148 | $11409 |
| **4/30/2018** | $11824 | $11421 | $11565 | $11204 | $11453 |
| **5/31/2018** | $12410 | $12115 | $12154 | $11739 | $11729 |
| **6/30/2018** | $12508 | $12201 | $12191 | $11808 | $11801 |
| **7/31/2018** | $12551 | $12414 | $12383 | $12014 | $12240 |
| **8/31/2018** | $13311 | $12949 | $12835 | $12437 | $12639 |
| **9/30/2018** | $13222 | $12638 | $12557 | $12157 | $12711 |
| **10/31/2018** | $11675 | $11265 | $11210 | $10948 | $11842 |
| **11/30/2018** | $11730 | $11444 | $11348 | $11103 | $12083 |
| **12/31/2018** | $10570 | $10085 | $10091 | $9825 | $10992 |
| **1/31/2019** | $11704 | $11219 | $11179 | $10889 | $11873 |
| **2/28/2019** | $12374 | $11803 | $11716 | $11399 | $12254 |
| **3/31/2019** | $12214 | $11556 | $11499 | $11151 | $12493 |
| **4/30/2019** | $12648 | $11948 | $11882 | $11594 | $12998 |
| **5/31/2019** | $11779 | $11019 | $11008 | $10679 | $12172 |
| **6/30/2019** | $12668 | $11798 | $11750 | $11422 | $13030 |
| **7/31/2019** | $12663 | $11866 | $11790 | $11505 | $13218 |
| **8/31/2019** | $12164 | $11280 | $11249 | $10960 | $13008 |
| **9/30/2019** | $12159 | $11514 | $11484 | $11288 | $13252 |
| **10/31/2019** | $12379 | $11818 | $11816 | $11504 | $13539 |
| **11/30/2019** | $12813 | $12304 | $12268 | $11883 | $14030 |
| **12/31/2019** | $13238 | $12659 | $12657 | $12201 | $14453 |
| **1/31/2020** | $13022 | $12253 | $12252 | $11763 | $14448 |
| **2/29/2020** | $12018 | $11221 | $11194 | $10629 | $13258 |
| **3/31/2020** | $9458 | $8783 | $8820 | $8188 | $11621 |
| **4/30/2020** | $10792 | $9990 | $10007 | $9289 | $13111 |
| **5/31/2020** | $11796 | $10640 | $10664 | $9794 | $13735 |
| **6/30/2020** | $12258 | $11016 | $11025 | $10028 | $14008 |
| **7/31/2020** | $12805 | $11321 | $11371 | $10368 | $14798 |
| **8/31/2020** | $13398 | $11959 | $12032 | $10815 | $15862 |
| **9/30/2020** | $13170 | $11559 | $11660 | $10397 | $15259 |
| **10/31/2020** | $13381 | $11801 | $11806 | $10656 | $14853 |
| **11/30/2020** | $15507 | $13977 | $13920 | $12420 | $16479 |
| **12/31/2020** | $16753 | $15186 | $15081 | $13389 | $17113 |
| **1/31/2021** | $17097 | $15950 | $15720 | $13745 | $16940 |
| **2/28/2021** | $18396 | $16944 | $16618 | $14961 | $17407 |
| **3/31/2021** | $18445 | $17114 | $16801 | $15524 | $18169 |
| **4/30/2021** | $19264 | $17473 | $17211 | $16058 | $19139 |
| **5/31/2021** | $19098 | $17510 | $17306 | $16275 | $19273 |
| **6/30/2021** | $19147 | $17849 | $17565 | $16167 | $19723 |
| **7/31/2021** | $18901 | $17204 | $17044 | $15896 | $20191 |
| **8/31/2021** | $19288 | $17589 | $17432 | $16204 | $20805 |
| **9/30/2021** | $18691 | $17070 | $16904 | $15794 | $19838 |
| **10/31/2021** | $19510 | $17797 | $17557 | $16472 | $21227 |
| **11/30/2021** | $18630 | $17055 | $16770 | $15974 | $21080 |
| **12/31/2021** | $19321 | $17436 | $17205 | $16726 | $22025 |
| **1/31/2022** | $17463 | $15757 | $15603 | $15634 | $20885 |
| **2/28/2022** | $17418 | $15926 | $15722 | $15810 | $20260 |
| **3/31/2022** | $17216 | $16124 | $15897 | $15846 | $21012 |
| **4/30/2022** | $15637 | $14526 | $14389 | $14641 | $19180 |
| **5/31/2022** | $15696 | $14548 | $14407 | $14852 | $19215 |
| **6/30/2022** | $14234 | $13351 | $13152 | $13531 | $17629 |
| **7/31/2022** | $15475 | $14745 | $14445 | $14793 | $19254 |
| **8/31/2022** | $15046 | $14443 | $14095 | $14293 | $18469 |
| **9/30/2022** | $13662 | $13059 | $12692 | $12948 | $16768 |
| **10/31/2022** | $14832 | $14497 | $13971 | $14426 | $18126 |
| **11/30/2022** | $15514 | $14836 | $14464 | $15049 | $19139 |
| **12/31/2022** | $14840 | $13873 | $13681 | $14222 | $18036 |
| **1/31/2023** | $16168 | $15225 | $14993 | $15532 | $19169 |
| **2/28/2023** | $15987 | $14968 | $14728 | $15337 | $18702 |
| **3/31/2023** | $15744 | $14253 | $14136 | $14614 | $19388 |
| **4/30/2023** | $15667 | $13996 | $13950 | $14331 | $19691 |
| **5/31/2023** | $15452 | $13867 | $13749 | $14017 | $19777 |
| **6/30/2023** | $16307 | $14994 | $14770 | $15199 | $21083 |
| **7/31/2023** | $16919 | $15911 | $15648 | $15972 | $21761 |
| **8/31/2023** | $16258 | $15115 | $14897 | $15406 | $21414 |
| **9/30/2023** | $15250 | $14225 | $14044 | $14611 | $20393 |
| **10/31/2023** | $14291 | $13255 | $13104 | $13763 | $19964 |
| **11/30/2023** | $15598 | $14455 | $14312 | $14877 | $21788 |
| **12/31/2023** | $16960 | $16221 | $15948 | $16426 | $22777 |
| **1/31/2024** | $16785 | $15590 | $15365 | $15984 | $23160 |
| **2/29/2024** | $17639 | $16472 | $16111 | $16675 | $24397 |
| **3/31/2024** | $18227 | $17061 | $16705 | $17384 | $25182 |
| **4/30/2024** | $17170 | $15861 | $15640 | $16342 | $24153 |
| **5/31/2024** | $18115 | $16656 | $16423 | $17096 | $25351 |
| **6/30/2024** | $17975 | $16502 | $16222 | $16796 | $26260 |
| **7/31/2024** | $19025 | $18179 | $17725 | $18246 | $26580 |
| **8/31/2024** | $19277 | $17907 | $17541 | $18089 | $27225 |
| **9/30/2024** | $19424 | $18033 | $17717 | $18179 | $27806 |
| **10/31/2024** | $19053 | $17772 | $17343 | $17870 | $27554 |
| **11/30/2024** | $20586 | $19722 | $18946 | $19623 | $29172 |
| **12/31/2024** | $19268 | $18093 | $17540 | $18171 | $28476 |
| **1/31/2025** | $19621 | $18567 | $18019 | $16828 | $29269 |
| **2/28/2025** | $18540 | $17574 | $17200 | $16032 | $28887 |
| **3/31/2025** | $17564 | $16378 | $16204 | $15084 | $27260 |
| **4/30/2025** | $17628 | $15999 | $16030 | $14602 | $27075 |
| **5/31/2025** | $18490 | $16854 | $16905 | $15346 | $28779 |
| **6/30/2025** | $19530 | $17770 | $17806 | $16000 | $30243 |
| **7/31/2025** | $19742 | $18078 | $18084 | $16194 | $30921 |
| **8/31/2025** | $20498 | $19370 | $19288 | $17142 | $31548 |
| **9/30/2025** | $20816 | $19972 | $19869 | $17175 | $32700 |
| **10/31/2025** | $20859 | $20334 | $20158 | $17042 | $33465 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | 9.48% | 9.29% | 8.95% |
| Russell 2000 Index | 14.41% | 11.50% | 8.63% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 8.52% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 7.74% |
| S&P 500 Index | 21.45% | 17.64% | 15.13% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# ALFOX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8961-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# ALFYX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $20 | 0.19% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.39%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i683670adfff83126e2e0091a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class I** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10175 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9839 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $9006 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8894 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9578 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9643 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9881 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9793 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10323 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10426 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10565 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10115 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10726 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10775 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10998 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11178 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11285 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11443 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11465 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11739 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11940 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11910 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12420 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12634 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12925 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $13023 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13487 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $13071 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $13138 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $13233 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13884 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13994 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $14038 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14889 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14789 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $13061 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $13119 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11821 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $13086 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13835 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13656 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $14137 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $13169 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $14160 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $14154 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13595 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13589 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13830 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $14316 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14792 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $14550 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $13425 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10564 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $12052 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $13176 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13687 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $14294 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $14965 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $14703 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14939 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $17309 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $18697 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $19083 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $20531 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $20586 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $21496 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $21310 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $21365 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $21089 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $21517 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $20848 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $21758 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $20779 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $21548 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $19474 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $19423 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $19190 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $17436 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $17502 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $15864 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $17247 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $16767 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $15231 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $16527 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $17291 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $16540 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $18012 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $17809 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $17537 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $17451 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $17210 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $18160 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $18845 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $18105 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $16984 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $15909 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $17365 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $18880 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $18692 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $19641 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $20284 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $19116 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $20166 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $20002 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $21170 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $21452 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $21609 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $21193 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $22903 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $21434 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $21830 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $20618 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $19533 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $19604 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $20562 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $21719 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $21949 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $22788 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $23145 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $23184 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | 9.39% | 9.19% | 8.77% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# ALFYX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1429-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R2

# ALFQX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R2 | $82 | 0.79% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.69%, reflecting performance at the net asset value (NAV) of Class R2 shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i0cfa5df96df54752228e5d4a.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R2** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10168 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9827 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $8989 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8874 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9553 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9616 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9847 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9755 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10275 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10371 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10505 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10057 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10656 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10699 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10912 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11085 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11188 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11339 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11357 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11619 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11815 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11779 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12277 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12482 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12762 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $12854 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13309 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $12884 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $12949 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $13034 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13669 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13769 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $13804 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14639 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14529 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $12824 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $12874 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11594 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $12833 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13563 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13376 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $13843 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $12885 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $13849 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $13837 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13282 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13271 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13498 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $13966 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14428 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $14179 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $13081 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10286 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $11734 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $12812 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13310 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $13889 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $14529 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $14273 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14496 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $16786 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $18123 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $18495 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $19879 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $19930 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $20797 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $20608 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $20644 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $20367 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $20768 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $20120 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $20987 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $20032 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $20754 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $18753 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $18691 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $18461 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $16766 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $16820 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $15240 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $16559 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $16091 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $14603 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $15846 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $16567 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $15835 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $17238 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $17041 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $16770 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $16680 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $16442 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $17337 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $17985 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $17271 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $16188 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $15161 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $16541 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $17976 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $17786 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $18677 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $19287 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $18157 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $19146 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $18982 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $20078 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $20333 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $20482 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $20078 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $21685 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $20278 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $20643 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $19489 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $18459 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $18517 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $19406 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $20485 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $20693 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $21473 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $21797 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $21822 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R2 at NAV | 8.69% | 8.53% | 8.12% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R2

# ALFQX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1095-R2

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# ALFRX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $72 | 0.69% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.83%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ic882c0b0a3fd44bd384ad4d3.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R3** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10171 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9831 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $8993 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8878 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9558 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9621 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9851 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9764 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10282 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10381 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10515 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10068 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10669 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10712 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10929 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11101 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11203 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11358 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11376 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11641 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11836 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11805 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12301 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12509 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12793 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $12885 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13338 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $12920 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $12984 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $13069 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13711 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13810 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $13850 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14681 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14576 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $12865 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $12920 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11634 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $12875 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13610 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13429 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $13895 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $12934 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $13907 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $13895 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13336 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13330 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13557 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $14029 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14490 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $14242 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $13140 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10340 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $11791 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $12879 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13375 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $13960 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $14604 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $14349 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14571 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $16880 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $18223 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $18594 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $19995 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $20046 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $20917 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $20728 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $20772 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $20496 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $20902 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $20242 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $21120 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $20162 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $20895 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $18873 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $18820 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $18590 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $16883 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $16936 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $15344 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $16676 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $16209 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $14708 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $15964 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $16691 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $15958 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $17367 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $17171 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $16900 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $16810 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $16573 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $17482 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $18129 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $17408 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $16327 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $15286 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $16679 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $18128 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $17939 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $18835 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $19452 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $18317 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $19321 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $19156 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $20267 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $20521 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $20670 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $20267 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $21887 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $20474 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $20839 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $19679 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $18635 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $18701 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $19604 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $20698 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $20905 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $21700 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $22024 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $22057 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R3 at NAV | 8.83% | 8.65% | 8.23% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# ALFRX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2069-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# ALFKX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $46 | 0.44% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.12%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i7a00e8eb5c16de0e2c23108c.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R4** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10175 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9834 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $9000 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8887 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9569 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9635 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9865 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9780 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10302 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10403 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10539 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10091 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10695 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10740 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10963 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11141 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11245 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11402 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11424 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11690 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11890 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11859 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12360 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12573 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12856 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $12956 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13414 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $12995 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $13063 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $13151 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13799 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13902 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $13941 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14790 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14682 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $12965 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $13019 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11728 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $12978 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13726 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13544 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $14018 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $13053 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $14035 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $14023 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13464 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13458 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13692 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $14172 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14640 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $14398 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $13285 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10450 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $11923 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $13023 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13534 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $14130 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $14784 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $14523 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14758 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $17096 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $18458 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $18840 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $20262 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $20312 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $21203 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $21019 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $21062 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $20793 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $21203 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $20545 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $21436 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $20467 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $21214 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $19169 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $19117 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $18893 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $17154 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $17213 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $15601 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $16960 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $16482 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $14967 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $16243 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $16989 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $16243 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $17689 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $17489 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $17218 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $17130 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $16890 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $17817 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $18480 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $17753 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $16650 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $15596 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $17018 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $18499 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $18314 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $19237 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $19863 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $18715 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $19735 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $19574 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $20714 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $20987 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $21139 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $20722 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $22391 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $20944 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $21333 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $20143 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $19084 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $19148 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $20079 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $21203 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $21422 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $22239 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $22578 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $22611 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R4 at NAV | 9.12% | 8.91% | 8.50% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# ALFKX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8719-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# ALFTX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $20 | 0.19% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.38%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i151f74c1c137dd2f650bc167.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R5** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10175 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9839 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $9005 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8894 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9578 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9643 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9881 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9796 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10323 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10426 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10565 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10119 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10726 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10774 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10997 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11181 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11288 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11447 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11472 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11742 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11948 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11918 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12423 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12642 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12928 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $13031 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13495 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $13074 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $13146 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $13236 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13892 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $13997 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $14045 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14897 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14792 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $13064 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $13122 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11826 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $13091 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13840 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13661 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $14142 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $13175 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $14165 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $14159 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13600 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13594 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13835 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $14321 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14797 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $14555 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $13431 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10570 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $12058 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $13182 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13693 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $14299 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $14963 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $14708 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14944 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $17314 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $18706 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $19092 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $20540 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $20595 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $21505 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $21319 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $21367 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $21098 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $21526 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $20857 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $21767 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $20788 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $21556 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $19482 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $19431 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $19198 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $17444 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $17503 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $15872 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $17255 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $16775 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $15232 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $16535 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $17299 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $16547 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $18018 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $17816 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $17543 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $17458 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $17216 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $18166 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $18852 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $18112 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $16983 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $15916 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $17372 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $18888 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $18700 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $19640 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $20291 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $19123 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $20166 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $20009 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $21169 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $21459 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $21616 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $21201 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $22910 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $21432 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $21828 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $20624 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $19539 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $19610 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $20568 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $21725 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $21954 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $22794 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $23150 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $23190 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R5 at NAV | 9.38% | 9.19% | 8.78% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# ALFTX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8751-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# ALFVX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Alpha Strategy Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $10 | 0.10% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.47%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 14.41% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** The Fund's allocation to domestic micro- and small-cap growth stocks within its investments in the Lord Abbett Micro Cap Growth Fund and the Lord Abbett Developing Growth Fund was a notable contributor to relative performance over the period.

**Top detractors from performance:** The Fund's allocation to domestic small- and mid-cap value stocks within its investments in the Lord Abbett Focused Small Cap Value Fund, the Lord Abbett Small Cap Value Fund, and the Lord Abbett Value Opportunities Fund was a notable detractor from relative performance over the period.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i7e388b38f7c2218144160f12.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R6** | **Russell 2000 Index** | **S&P Developed Ex US Small 15% + Russell 2000 85%** | **Lipper Small-Cap Core Category Funds Average** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10175 | $10325 | $10270 | $10226 | $10030 |
| **12/31/2015** | $9841 | $9807 | $9833 | $9706 | $9872 |
| **1/31/2016** | $9003 | $8944 | $8990 | $8997 | $9382 |
| **2/29/2016** | $8896 | $8944 | $8988 | $9066 | $9369 |
| **3/31/2016** | $9579 | $9658 | $9714 | $9767 | $10005 |
| **4/30/2016** | $9645 | $9810 | $9887 | $9880 | $10043 |
| **5/31/2016** | $9879 | $10030 | $10075 | $10048 | $10224 |
| **6/30/2016** | $9794 | $10024 | $10008 | $10003 | $10250 |
| **7/31/2016** | $10321 | $10623 | $10604 | $10504 | $10628 |
| **8/31/2016** | $10424 | $10811 | $10753 | $10646 | $10643 |
| **9/30/2016** | $10563 | $10931 | $10897 | $10701 | $10645 |
| **10/31/2016** | $10117 | $10411 | $10405 | $10303 | $10451 |
| **11/30/2016** | $10724 | $11572 | $11351 | $11372 | $10838 |
| **12/31/2016** | $10773 | $11896 | $11668 | $11706 | $11052 |
| **1/31/2017** | $10995 | $11943 | $11767 | $11748 | $11262 |
| **2/28/2017** | $11180 | $12174 | $11995 | $11928 | $11709 |
| **3/31/2017** | $11287 | $12190 | $12047 | $11924 | $11723 |
| **4/30/2017** | $11445 | $12324 | $12221 | $12137 | $11843 |
| **5/31/2017** | $11471 | $12073 | $12083 | $11916 | $12010 |
| **6/30/2017** | $11745 | $12490 | $12447 | $12212 | $12085 |
| **7/31/2017** | $11951 | $12583 | $12588 | $12307 | $12333 |
| **8/31/2017** | $11921 | $12423 | $12466 | $12106 | $12371 |
| **9/30/2017** | $12426 | $13198 | $13178 | $12809 | $12626 |
| **10/31/2017** | $12644 | $13311 | $13300 | $12959 | $12921 |
| **11/30/2017** | $12936 | $13694 | $13662 | $13310 | $13317 |
| **12/31/2017** | $13038 | $13639 | $13677 | $13285 | $13465 |
| **1/31/2018** | $13502 | $13995 | $14080 | $13606 | $14236 |
| **2/28/2018** | $13086 | $13454 | $13527 | $13024 | $13711 |
| **3/31/2018** | $13158 | $13628 | $13650 | $13139 | $13363 |
| **4/30/2018** | $13249 | $13745 | $13779 | $13205 | $13414 |
| **5/31/2018** | $13904 | $14580 | $14480 | $13836 | $13737 |
| **6/30/2018** | $14014 | $14684 | $14525 | $13918 | $13822 |
| **7/31/2018** | $14057 | $14940 | $14754 | $14159 | $14336 |
| **8/31/2018** | $14914 | $15584 | $15292 | $14659 | $14803 |
| **9/30/2018** | $14809 | $15209 | $14961 | $14329 | $14887 |
| **10/31/2018** | $13081 | $13557 | $13356 | $12903 | $13870 |
| **11/30/2018** | $13138 | $13773 | $13520 | $13086 | $14153 |
| **12/31/2018** | $11844 | $12137 | $12022 | $11580 | $12875 |
| **1/31/2019** | $13108 | $13502 | $13318 | $12834 | $13906 |
| **2/28/2019** | $13864 | $14204 | $13959 | $13435 | $14353 |
| **3/31/2019** | $13685 | $13907 | $13700 | $13143 | $14632 |
| **4/30/2019** | $14171 | $14379 | $14156 | $13665 | $15224 |
| **5/31/2019** | $13198 | $13261 | $13115 | $12587 | $14257 |
| **6/30/2019** | $14194 | $14198 | $13999 | $13462 | $15262 |
| **7/31/2019** | $14188 | $14280 | $14047 | $13560 | $15481 |
| **8/31/2019** | $13629 | $13575 | $13403 | $12917 | $15236 |
| **9/30/2019** | $13623 | $13857 | $13682 | $13305 | $15521 |
| **10/31/2019** | $13864 | $14222 | $14078 | $13559 | $15857 |
| **11/30/2019** | $14350 | $14808 | $14616 | $14006 | $16432 |
| **12/31/2019** | $14832 | $15235 | $15080 | $14380 | $16928 |
| **1/31/2020** | $14589 | $14746 | $14598 | $13864 | $16922 |
| **2/29/2020** | $13466 | $13505 | $13336 | $12527 | $15529 |
| **3/31/2020** | $10599 | $10571 | $10508 | $9651 | $13611 |
| **4/30/2020** | $12093 | $12023 | $11923 | $10949 | $15356 |
| **5/31/2020** | $13217 | $12805 | $12706 | $11543 | $16087 |
| **6/30/2020** | $13734 | $13258 | $13135 | $11820 | $16407 |
| **7/31/2020** | $14340 | $13625 | $13547 | $12219 | $17332 |
| **8/31/2020** | $15011 | $14392 | $14336 | $12747 | $18578 |
| **9/30/2020** | $14755 | $13911 | $13891 | $12254 | $17872 |
| **10/31/2020** | $14992 | $14203 | $14066 | $12559 | $17397 |
| **11/30/2020** | $17373 | $16821 | $16585 | $14639 | $19301 |
| **12/31/2020** | $18768 | $18276 | $17968 | $15780 | $20043 |
| **1/31/2021** | $19154 | $19195 | $18729 | $16200 | $19841 |
| **2/28/2021** | $20608 | $20392 | $19799 | $17633 | $20388 |
| **3/31/2021** | $20670 | $20597 | $20018 | $18297 | $21281 |
| **4/30/2021** | $21580 | $21029 | $20505 | $18926 | $22416 |
| **5/31/2021** | $21394 | $21072 | $20618 | $19181 | $22573 |
| **6/30/2021** | $21449 | $21481 | $20927 | $19055 | $23100 |
| **7/31/2021** | $21174 | $20705 | $20307 | $18735 | $23649 |
| **8/31/2021** | $21608 | $21168 | $20769 | $19098 | $24368 |
| **9/30/2021** | $20939 | $20544 | $20140 | $18615 | $23234 |
| **10/31/2021** | $21856 | $21418 | $20918 | $19414 | $24862 |
| **11/30/2021** | $20870 | $20525 | $19980 | $18828 | $24690 |
| **12/31/2021** | $21644 | $20984 | $20498 | $19714 | $25797 |
| **1/31/2022** | $19564 | $18964 | $18590 | $18427 | $24462 |
| **2/28/2022** | $19513 | $19166 | $18731 | $18634 | $23729 |
| **3/31/2022** | $19287 | $19405 | $18940 | $18677 | $24610 |
| **4/30/2022** | $17519 | $17482 | $17143 | $17257 | $22464 |
| **5/31/2022** | $17585 | $17508 | $17164 | $17505 | $22505 |
| **6/30/2022** | $15940 | $16068 | $15669 | $15948 | $20648 |
| **7/31/2022** | $17337 | $17746 | $17210 | $17435 | $22552 |
| **8/31/2022** | $16850 | $17382 | $16793 | $16845 | $21632 |
| **9/30/2022** | $15307 | $15717 | $15122 | $15261 | $19640 |
| **10/31/2022** | $16617 | $17447 | $16646 | $17002 | $21230 |
| **11/30/2022** | $17381 | $17854 | $17233 | $17737 | $22416 |
| **12/31/2022** | $16627 | $16696 | $16300 | $16762 | $21125 |
| **1/31/2023** | $18106 | $18323 | $17863 | $18307 | $22452 |
| **2/28/2023** | $17911 | $18013 | $17547 | $18076 | $21904 |
| **3/31/2023** | $17631 | $17153 | $16842 | $17224 | $22708 |
| **4/30/2023** | $17553 | $16844 | $16620 | $16890 | $23063 |
| **5/31/2023** | $17312 | $16689 | $16381 | $16520 | $23163 |
| **6/30/2023** | $18269 | $18046 | $17597 | $17914 | $24693 |
| **7/31/2023** | $18954 | $19149 | $18644 | $18825 | $25487 |
| **8/31/2023** | $18215 | $18191 | $17748 | $18158 | $25081 |
| **9/30/2023** | $17086 | $17120 | $16733 | $17221 | $23885 |
| **10/31/2023** | $16004 | $15953 | $15612 | $16221 | $23383 |
| **11/30/2023** | $17475 | $17396 | $17052 | $17535 | $25518 |
| **12/31/2023** | $19001 | $19522 | $19001 | $19360 | $26678 |
| **1/31/2024** | $18805 | $18763 | $18307 | $18839 | $27126 |
| **2/29/2024** | $19762 | $19824 | $19195 | $19653 | $28574 |
| **3/31/2024** | $20420 | $20533 | $19902 | $20489 | $29494 |
| **4/30/2024** | $19236 | $19088 | $18633 | $19261 | $28289 |
| **5/31/2024** | $20295 | $20046 | $19566 | $20149 | $29692 |
| **6/30/2024** | $20138 | $19860 | $19327 | $19796 | $30757 |
| **7/31/2024** | $21306 | $21878 | $21118 | $21505 | $31132 |
| **8/31/2024** | $21596 | $21551 | $20898 | $21321 | $31887 |
| **9/30/2024** | $21760 | $21702 | $21108 | $21427 | $32568 |
| **10/31/2024** | $21345 | $21388 | $20663 | $21062 | $32272 |
| **11/30/2024** | $23062 | $23735 | $22573 | $23128 | $34167 |
| **12/31/2024** | $21585 | $21774 | $20898 | $21417 | $33352 |
| **1/31/2025** | $21981 | $22345 | $21468 | $22062 | $34281 |
| **2/28/2025** | $20770 | $21150 | $20492 | $21018 | $33834 |
| **3/31/2025** | $19677 | $19710 | $19305 | $19774 | $31928 |
| **4/30/2025** | $19748 | $19255 | $19098 | $19143 | $31711 |
| **5/31/2025** | $20714 | $20283 | $20141 | $20120 | $33707 |
| **6/30/2025** | $21878 | $21386 | $21214 | $20976 | $35421 |
| **7/31/2025** | $22116 | $21757 | $21546 | $21232 | $36216 |
| **8/31/2025** | $22963 | $23311 | $22981 | $22474 | $36950 |
| **9/30/2025** | $23319 | $24036 | $23672 | $22517 | $38299 |
| **10/31/2025** | $23367 | $24471 | $24016 | $22343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R6 at NAV | 9.47% | 9.28% | 8.86% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P Developed Ex US Small 15% + Russell 2000 85% | 16.23% | 11.29% | 9.16% |
| Lipper Small-Cap Core Category Funds Average | 6.08% | 12.21% | 8.37% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $613116757 |
| # of Portfolio Holdings | 7 |
| Portfolio Turnover Rate | 4% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Portfolio Allocation** | **%<sup>Footnote Reference\*</sup>** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.24% |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 19.25% |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 9.65% |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund-Class I | 19.26% |
| Repurchase Agreements | 0.04% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# ALFVX

# Lord Abbett Alpha Strategy Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8783-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LFVAX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Small Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $128 | 1.28% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -0.70%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 9.87% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Real Estate sector contributed to relative performance, led by an overweight allocation to Cushman & Wakefield Plc. Security selection within the Energy sector also contributed to relative performance, led by an overweight allocation to MEG Energy Corp.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Columbus McKinnon Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i5e358a2c13bd34e9f808a423.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with load** | **Russell 2000 Value Index** | **Russell 2000 Index** | **S&P 500 Index** |
| **10/31/2015** | $9425 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9514 | $10284 | $10325 | $10030 |
| **12/31/2015** | $9212 | $9742 | $9807 | $9872 |
| **1/31/2016** | $8633 | $9088 | $8944 | $9382 |
| **2/29/2016** | $8649 | $9150 | $8944 | $9369 |
| **3/31/2016** | $9308 | $9908 | $9658 | $10005 |
| **4/30/2016** | $9450 | $10118 | $9810 | $10043 |
| **5/31/2016** | $9792 | $10303 | $10030 | $10224 |
| **6/30/2016** | $10013 | $10335 | $10024 | $10250 |
| **7/31/2016** | $10389 | $10892 | $10623 | $10628 |
| **8/31/2016** | $10590 | $11163 | $10811 | $10643 |
| **9/30/2016** | $10701 | $11251 | $10931 | $10645 |
| **10/31/2016** | $10368 | $10881 | $10411 | $10451 |
| **11/30/2016** | $11682 | $12325 | $11572 | $10838 |
| **12/31/2016** | $12041 | $12834 | $11896 | $11052 |
| **1/31/2017** | $12045 | $12743 | $11943 | $11262 |
| **2/28/2017** | $12016 | $12927 | $12174 | $11709 |
| **3/31/2017** | $11950 | $12818 | $12190 | $11723 |
| **4/30/2017** | $12136 | $12868 | $12324 | $11843 |
| **5/31/2017** | $11756 | $12467 | $12073 | $12010 |
| **6/30/2017** | $12151 | $12904 | $12490 | $12085 |
| **7/31/2017** | $12213 | $12985 | $12583 | $12333 |
| **8/31/2017** | $11939 | $12666 | $12423 | $12371 |
| **9/30/2017** | $12675 | $13563 | $13198 | $12626 |
| **10/31/2017** | $12792 | $13581 | $13311 | $12921 |
| **11/30/2017** | $13252 | $13974 | $13694 | $13317 |
| **12/31/2017** | $12943 | $13840 | $13639 | $13465 |
| **1/31/2018** | $13327 | $14011 | $13995 | $14236 |
| **2/28/2018** | $12939 | $13310 | $13454 | $13711 |
| **3/31/2018** | $13000 | $13475 | $13628 | $13363 |
| **4/30/2018** | $13186 | $13709 | $13745 | $13414 |
| **5/31/2018** | $13852 | $14506 | $14580 | $13737 |
| **6/30/2018** | $14112 | $14594 | $14684 | $13822 |
| **7/31/2018** | $14068 | $14852 | $14940 | $14336 |
| **8/31/2018** | $14726 | $15205 | $15584 | $14803 |
| **9/30/2018** | $14359 | $14828 | $15209 | $14887 |
| **10/31/2018** | $12806 | $13500 | $13557 | $13870 |
| **11/30/2018** | $13047 | $13718 | $13773 | $14153 |
| **12/31/2018** | $11741 | $12060 | $12137 | $12875 |
| **1/31/2019** | $12782 | $13379 | $13502 | $13906 |
| **2/28/2019** | $13559 | $13899 | $14204 | $14353 |
| **3/31/2019** | $13093 | $13498 | $13907 | $14632 |
| **4/30/2019** | $13953 | $14009 | $14379 | $15224 |
| **5/31/2019** | $12327 | $12865 | $13261 | $14257 |
| **6/30/2019** | $13321 | $13684 | $14198 | $15262 |
| **7/31/2019** | $13274 | $13706 | $14280 | $15481 |
| **8/31/2019** | $12197 | $12941 | $13575 | $15236 |
| **9/30/2019** | $12870 | $13605 | $13857 | $15521 |
| **10/31/2019** | $13021 | $13935 | $14222 | $15857 |
| **11/30/2019** | $13601 | $14261 | $14808 | $16432 |
| **12/31/2019** | $14155 | $14761 | $15235 | $16928 |
| **1/31/2020** | $13465 | $13964 | $14746 | $16922 |
| **2/29/2020** | $12073 | $12607 | $13505 | $15529 |
| **3/31/2020** | $8168 | $9497 | $10571 | $13611 |
| **4/30/2020** | $9320 | $10668 | $12023 | $15356 |
| **5/31/2020** | $10262 | $10975 | $12805 | $16087 |
| **6/30/2020** | $10970 | $11292 | $13258 | $16407 |
| **7/31/2020** | $11155 | $11525 | $13625 | $17332 |
| **8/31/2020** | $11777 | $12146 | $14392 | $18578 |
| **9/30/2020** | $11057 | $11581 | $13911 | $17872 |
| **10/31/2020** | $11562 | $11995 | $14203 | $17397 |
| **11/30/2020** | $14154 | $14311 | $16821 | $19301 |
| **12/31/2020** | $15320 | $15445 | $18276 | $20043 |
| **1/31/2021** | $15667 | $16257 | $19195 | $19841 |
| **2/28/2021** | $17683 | $17785 | $20392 | $20388 |
| **3/31/2021** | $18266 | $18714 | $20597 | $21281 |
| **4/30/2021** | $19017 | $19093 | $21029 | $22416 |
| **5/31/2021** | $19445 | $19687 | $21072 | $22573 |
| **6/30/2021** | $18955 | $19567 | $21481 | $23100 |
| **7/31/2021** | $18285 | $18867 | $20705 | $23649 |
| **8/31/2021** | $18427 | $19372 | $21168 | $24368 |
| **9/30/2021** | $18328 | $18984 | $20544 | $23234 |
| **10/31/2021** | $18992 | $19708 | $21418 | $24862 |
| **11/30/2021** | $18386 | $19035 | $20525 | $24690 |
| **12/31/2021** | $19482 | $19811 | $20984 | $25797 |
| **1/31/2022** | $18627 | $18656 | $18964 | $24462 |
| **2/28/2022** | $18814 | $18965 | $19166 | $23729 |
| **3/31/2022** | $18489 | $19336 | $19405 | $24610 |
| **4/30/2022** | $16980 | $17835 | $17482 | $22464 |
| **5/31/2022** | $17435 | $18177 | $17508 | $22505 |
| **6/30/2022** | $15429 | $16382 | $16068 | $20648 |
| **7/31/2022** | $16869 | $17968 | $17746 | $22552 |
| **8/31/2022** | $16339 | $17400 | $17382 | $21632 |
| **9/30/2022** | $14719 | $15626 | $15717 | $19640 |
| **10/31/2022** | $16525 | $17594 | $17447 | $21230 |
| **11/30/2022** | $17342 | $18131 | $17854 | $22416 |
| **12/31/2022** | $16504 | $16942 | $16696 | $21125 |
| **1/31/2023** | $18181 | $18558 | $18323 | $22452 |
| **2/28/2023** | $17873 | $18130 | $18013 | $21904 |
| **3/31/2023** | $16891 | $16830 | $17153 | $22708 |
| **4/30/2023** | $16733 | $16411 | $16844 | $23063 |
| **5/31/2023** | $16203 | $16088 | $16689 | $23163 |
| **6/30/2023** | $17572 | $17366 | $18046 | $24693 |
| **7/31/2023** | $18453 | $18676 | $19149 | $25487 |
| **8/31/2023** | $17794 | $17778 | $18191 | $25081 |
| **9/30/2023** | $16855 | $16852 | $17120 | $23885 |
| **10/31/2023** | $15716 | $15847 | $15953 | $23383 |
| **11/30/2023** | $16987 | $17273 | $17396 | $25518 |
| **12/31/2023** | $18743 | $19423 | $19522 | $26678 |
| **1/31/2024** | $18327 | $18541 | $18763 | $27126 |
| **2/29/2024** | $18829 | $19147 | $19824 | $28574 |
| **3/31/2024** | $19359 | $19986 | $20533 | $29494 |
| **4/30/2024** | $18062 | $18713 | $19088 | $28289 |
| **5/31/2024** | $19338 | $19588 | $20046 | $29692 |
| **6/30/2024** | $19001 | $19258 | $19860 | $30757 |
| **7/31/2024** | $20785 | $21605 | $21878 | $31132 |
| **8/31/2024** | $20578 | $21199 | $21551 | $31887 |
| **9/30/2024** | $20370 | $21213 | $21702 | $32568 |
| **10/31/2024** | $19983 | $20881 | $21388 | $32272 |
| **11/30/2024** | $22193 | $22895 | $23735 | $34167 |
| **12/31/2024** | $20654 | $20987 | $21774 | $33352 |
| **1/31/2025** | $20953 | $21419 | $22345 | $34281 |
| **2/28/2025** | $19804 | $20599 | $21150 | $33834 |
| **3/31/2025** | $18755 | $19362 | $19710 | $31928 |
| **4/30/2025** | $17820 | $18585 | $19255 | $31711 |
| **5/31/2025** | $18211 | $19366 | $20283 | $33707 |
| **6/30/2025** | $19436 | $20324 | $21386 | $35421 |
| **7/31/2025** | $19880 | $20683 | $21757 | $36216 |
| **8/31/2025** | $20570 | $22435 | $23311 | $36950 |
| **9/30/2025** | $20225 | $22886 | $24036 | $38299 |
| **10/31/2025** | $19842 | $22943 | $24471 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | (0.70%) | 11.41% | 7.73% |
| Class A with sales charge | (6.41%) | 10.09% | 7.09% |
| Russell 2000 Value Index | 9.87% | 13.85% | 8.66% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $86141375 |
| # of Portfolio Holdings | 45 |
| Portfolio Turnover Rate | 77% |
| Total Advisory Fees Paid | $684344 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 8.10% |
| Consumer Staples | 1.63% |
| Energy | 3.13% |
| Financials | 25.79% |
| Health Care | 7.05% |
| Industrials | 19.92% |
| Information Technology | 19.03% |
| Materials | 4.96% |
| Real Estate | 3.70% |
| Utilities | 2.89% |
| Repurchase Agreements | 2.28% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LFVAX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-272-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LFVCX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Small Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $202 | 2.03% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.46%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 9.87% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Real Estate sector contributed to relative performance, led by an overweight allocation to Cushman & Wakefield Plc. Security selection within the Energy sector also contributed to relative performance, led by an overweight allocation to MEG Energy Corp.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Columbus McKinnon Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i70e199f6596706840b14e3cd.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with load** | **Russell 2000 Value Index** | **Russell 2000 Index** | **S&P 500 Index** |
| **6/28/2019** | $10000 | $10000 | $10000 | $10000 |
| **6/30/2019** | $10000 | $10000 | $10000 | $10000 |
| **7/31/2019** | $9960 | $10016 | $10058 | $10144 |
| **8/31/2019** | $9146 | $9457 | $9561 | $9983 |
| **9/30/2019** | $9646 | $9943 | $9760 | $10170 |
| **10/31/2019** | $9752 | $10184 | $10017 | $10390 |
| **11/30/2019** | $10178 | $10422 | $10429 | $10767 |
| **12/31/2019** | $10586 | $10787 | $10730 | $11092 |
| **1/31/2020** | $10067 | $10205 | $10386 | $11088 |
| **2/29/2020** | $9023 | $9213 | $9512 | $10175 |
| **3/31/2020** | $6103 | $6940 | $7445 | $8918 |
| **4/30/2020** | $6944 | $7796 | $8468 | $10062 |
| **5/31/2020** | $7644 | $8020 | $9019 | $10541 |
| **6/30/2020** | $8164 | $8252 | $9337 | $10751 |
| **7/31/2020** | $8301 | $8423 | $9596 | $11357 |
| **8/31/2020** | $8752 | $8876 | $10137 | $12173 |
| **9/30/2020** | $8211 | $8463 | $9798 | $11710 |
| **10/31/2020** | $8581 | $8766 | $10003 | $11399 |
| **11/30/2020** | $10505 | $10458 | $11847 | $12647 |
| **12/31/2020** | $11359 | $11287 | $12872 | $13133 |
| **1/31/2021** | $11614 | $11881 | $13520 | $13000 |
| **2/28/2021** | $13098 | $12997 | $14362 | $13359 |
| **3/31/2021** | $13525 | $13676 | $14506 | $13944 |
| **4/30/2021** | $14069 | $13953 | $14811 | $14688 |
| **5/31/2021** | $14379 | $14387 | $14842 | $14791 |
| **6/30/2021** | $14004 | $14300 | $15129 | $15136 |
| **7/31/2021** | $13503 | $13788 | $14583 | $15496 |
| **8/31/2021** | $13598 | $14157 | $14909 | $15967 |
| **9/30/2021** | $13516 | $13873 | $14469 | $15224 |
| **10/31/2021** | $13995 | $14402 | $15085 | $16291 |
| **11/30/2021** | $13544 | $13910 | $14456 | $16178 |
| **12/31/2021** | $14344 | $14478 | $14779 | $16903 |
| **1/31/2022** | $13701 | $13633 | $13356 | $16028 |
| **2/28/2022** | $13834 | $13859 | $13499 | $15548 |
| **3/31/2022** | $13587 | $14130 | $13667 | $16126 |
| **4/30/2022** | $12467 | $13034 | $12313 | $14719 |
| **5/31/2022** | $12795 | $13284 | $12331 | $14747 |
| **6/30/2022** | $11318 | $11972 | $11317 | $13529 |
| **7/31/2022** | $12367 | $13131 | $12498 | $14777 |
| **8/31/2022** | $11966 | $12715 | $12243 | $14174 |
| **9/30/2022** | $10775 | $11420 | $11069 | $12869 |
| **10/31/2022** | $12090 | $12857 | $12288 | $13911 |
| **11/30/2022** | $12678 | $13250 | $12575 | $14688 |
| **12/31/2022** | $12058 | $12381 | $11759 | $13842 |
| **1/31/2023** | $13279 | $13562 | $12905 | $14711 |
| **2/28/2023** | $13043 | $13250 | $12687 | $14352 |
| **3/31/2023** | $12314 | $12299 | $12081 | $14879 |
| **4/30/2023** | $12196 | $11993 | $11864 | $15112 |
| **5/31/2023** | $11802 | $11757 | $11754 | $15177 |
| **6/30/2023** | $12792 | $12691 | $12710 | $16180 |
| **7/31/2023** | $13427 | $13648 | $13487 | $16700 |
| **8/31/2023** | $12934 | $12992 | $12812 | $16434 |
| **9/30/2023** | $12245 | $12315 | $12058 | $15651 |
| **10/31/2023** | $11408 | $11581 | $11236 | $15321 |
| **11/30/2023** | $12324 | $12623 | $12253 | $16721 |
| **12/31/2023** | $13589 | $14194 | $13750 | $17480 |
| **1/31/2024** | $13279 | $13549 | $13215 | $17774 |
| **2/29/2024** | $13638 | $13993 | $13962 | $18723 |
| **3/31/2024** | $14013 | $14606 | $14462 | $19326 |
| **4/30/2024** | $13067 | $13675 | $13444 | $18536 |
| **5/31/2024** | $13978 | $14315 | $14118 | $19455 |
| **6/30/2024** | $13727 | $14073 | $13988 | $20153 |
| **7/31/2024** | $15007 | $15789 | $15409 | $20399 |
| **8/31/2024** | $14845 | $15492 | $15179 | $20894 |
| **9/30/2024** | $14687 | $15502 | $15285 | $21340 |
| **10/31/2024** | $14402 | $15260 | $15064 | $21146 |
| **11/30/2024** | $15979 | $16732 | $16717 | $22388 |
| **12/31/2024** | $14862 | $15337 | $15336 | $21854 |
| **1/31/2025** | $15072 | $15652 | $15738 | $22462 |
| **2/28/2025** | $14238 | $15053 | $14896 | $22169 |
| **3/31/2025** | $13472 | $14150 | $13882 | $20920 |
| **4/30/2025** | $12796 | $13582 | $13562 | $20778 |
| **5/31/2025** | $13068 | $14152 | $14286 | $22086 |
| **6/30/2025** | $13939 | $14852 | $15062 | $23209 |
| **7/31/2025** | $14243 | $15115 | $15324 | $23730 |
| **8/31/2025** | $14731 | $16395 | $16418 | $24211 |
| **9/30/2025** | $14474 | $16725 | $16929 | $25095 |
| **10/31/2025** | $14191 | $16766 | $17235 | $25683 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 6/28/19 |
| Class C at NAV | (1.46%) | 10.59% | 5.67% |
| Class C with sales charge | (2.39%) | 10.59% | 5.67% |
| Russell 2000 Value Index | 9.87% | 13.85% | 8.49% |
| Russell 2000 Index | 14.41% | 11.50% | 8.96% |
| S&P 500 Index | 21.45% | 17.64% | 16.03% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $86141375 |
| # of Portfolio Holdings | 45 |
| Portfolio Turnover Rate | 77% |
| Total Advisory Fees Paid | $684344 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 8.10% |
| Consumer Staples | 1.63% |
| Energy | 3.13% |
| Financials | 25.79% |
| Health Care | 7.05% |
| Industrials | 19.92% |
| Information Technology | 19.03% |
| Materials | 4.96% |
| Real Estate | 3.70% |
| Utilities | 2.89% |
| Repurchase Agreements | 2.28% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LFVCX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9028-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LFSFX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Small Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $103 | 1.03% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -0.46%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 9.87% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Real Estate sector contributed to relative performance, led by an overweight allocation to Cushman & Wakefield Plc. Security selection within the Energy sector also contributed to relative performance, led by an overweight allocation to MEG Energy Corp.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Columbus McKinnon Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](id9a38a6d2da00bb419ef4990.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F** | **Russell 2000 Value Index** | **Russell 2000 Index** | **S&P 500 Index** |
| **6/28/2019** | $10000 | $10000 | $10000 | $10000 |
| **6/30/2019** | $10000 | $10000 | $10000 | $10000 |
| **7/31/2019** | $9967 | $10016 | $10058 | $10144 |
| **8/31/2019** | $9164 | $9457 | $9561 | $9983 |
| **9/30/2019** | $9668 | $9943 | $9760 | $10170 |
| **10/31/2019** | $9785 | $10184 | $10017 | $10390 |
| **11/30/2019** | $10219 | $10422 | $10429 | $10767 |
| **12/31/2019** | $10640 | $10787 | $10730 | $11092 |
| **1/31/2020** | $10124 | $10205 | $10386 | $11088 |
| **2/29/2020** | $9082 | $9213 | $9512 | $10175 |
| **3/31/2020** | $6146 | $6940 | $7445 | $8918 |
| **4/30/2020** | $7009 | $7796 | $8468 | $10062 |
| **5/31/2020** | $7725 | $8020 | $9019 | $10541 |
| **6/30/2020** | $8258 | $8252 | $9337 | $10751 |
| **7/31/2020** | $8403 | $8423 | $9596 | $11357 |
| **8/31/2020** | $8871 | $8876 | $10137 | $12173 |
| **9/30/2020** | $8326 | $8463 | $9798 | $11710 |
| **10/31/2020** | $8708 | $8766 | $10003 | $11399 |
| **11/30/2020** | $10671 | $10458 | $11847 | $12647 |
| **12/31/2020** | $11551 | $11287 | $12872 | $13133 |
| **1/31/2021** | $11815 | $11881 | $13520 | $13000 |
| **2/28/2021** | $13336 | $12997 | $14362 | $13359 |
| **3/31/2021** | $13782 | $13676 | $14506 | $13944 |
| **4/30/2021** | $14350 | $13953 | $14811 | $14688 |
| **5/31/2021** | $14674 | $14387 | $14842 | $14791 |
| **6/30/2021** | $14306 | $14300 | $15129 | $15136 |
| **7/31/2021** | $13804 | $13788 | $14583 | $15496 |
| **8/31/2021** | $13916 | $14157 | $14909 | $15967 |
| **9/30/2021** | $13843 | $13873 | $14469 | $15224 |
| **10/31/2021** | $14345 | $14402 | $15085 | $16291 |
| **11/30/2021** | $13896 | $13910 | $14456 | $16178 |
| **12/31/2021** | $14728 | $14478 | $14779 | $16903 |
| **1/31/2022** | $14078 | $13633 | $13356 | $16028 |
| **2/28/2022** | $14226 | $13859 | $13499 | $15548 |
| **3/31/2022** | $13982 | $14130 | $13667 | $16126 |
| **4/30/2022** | $12844 | $13034 | $12313 | $14719 |
| **5/31/2022** | $13188 | $13284 | $12331 | $14747 |
| **6/30/2022** | $11677 | $11972 | $11317 | $13529 |
| **7/31/2022** | $12767 | $13131 | $12498 | $14777 |
| **8/31/2022** | $12366 | $12715 | $12243 | $14174 |
| **9/30/2022** | $11142 | $11420 | $11069 | $12869 |
| **10/31/2022** | $12514 | $12857 | $12288 | $13911 |
| **11/30/2022** | $13138 | $13250 | $12575 | $14688 |
| **12/31/2022** | $12504 | $12381 | $11759 | $13842 |
| **1/31/2023** | $13778 | $13562 | $12905 | $14711 |
| **2/28/2023** | $13550 | $13250 | $12687 | $14352 |
| **3/31/2023** | $12801 | $12299 | $12081 | $14879 |
| **4/30/2023** | $12692 | $11993 | $11864 | $15112 |
| **5/31/2023** | $12285 | $11757 | $11754 | $15177 |
| **6/30/2023** | $13332 | $12691 | $12710 | $16180 |
| **7/31/2023** | $14006 | $13648 | $13487 | $16700 |
| **8/31/2023** | $13500 | $12992 | $12812 | $16434 |
| **9/30/2023** | $12791 | $12315 | $12058 | $15651 |
| **10/31/2023** | $11929 | $11581 | $11236 | $15321 |
| **11/30/2023** | $12900 | $12623 | $12253 | $16721 |
| **12/31/2023** | $14234 | $14194 | $13750 | $17480 |
| **1/31/2024** | $13922 | $13549 | $13215 | $17774 |
| **2/29/2024** | $14308 | $13993 | $13962 | $18723 |
| **3/31/2024** | $14710 | $14606 | $14462 | $19326 |
| **4/30/2024** | $13728 | $13675 | $13444 | $18536 |
| **5/31/2024** | $14705 | $14315 | $14118 | $19455 |
| **6/30/2024** | $14447 | $14073 | $13988 | $20153 |
| **7/31/2024** | $15810 | $15789 | $15409 | $20399 |
| **8/31/2024** | $15652 | $15492 | $15179 | $20894 |
| **9/30/2024** | $15498 | $15502 | $15285 | $21340 |
| **10/31/2024** | $15211 | $15260 | $15064 | $21146 |
| **11/30/2024** | $16893 | $16732 | $16717 | $22388 |
| **12/31/2024** | $15724 | $15337 | $15336 | $21854 |
| **1/31/2025** | $15956 | $15652 | $15738 | $22462 |
| **2/28/2025** | $15087 | $15053 | $14896 | $22169 |
| **3/31/2025** | $14287 | $14150 | $13882 | $20920 |
| **4/30/2025** | $13582 | $13582 | $13562 | $20778 |
| **5/31/2025** | $13882 | $14152 | $14286 | $22086 |
| **6/30/2025** | $14819 | $14852 | $15062 | $23209 |
| **7/31/2025** | $15156 | $15115 | $15324 | $23730 |
| **8/31/2025** | $15688 | $16395 | $16418 | $24211 |
| **9/30/2025** | $15430 | $16725 | $16929 | $25095 |
| **10/31/2025** | $15140 | $16766 | $17235 | $25683 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 6/28/19 |
| Class F at NAV | (0.46%) | 11.70% | 6.76% |
| Russell 2000 Value Index | 9.87% | 13.85% | 8.49% |
| Russell 2000 Index | 14.41% | 11.50% | 8.96% |
| S&P 500 Index | 21.45% | 17.64% | 16.03% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $86141375 |
| # of Portfolio Holdings | 45 |
| Portfolio Turnover Rate | 77% |
| Total Advisory Fees Paid | $684344 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 8.10% |
| Consumer Staples | 1.63% |
| Energy | 3.13% |
| Financials | 25.79% |
| Health Care | 7.05% |
| Industrials | 19.92% |
| Information Technology | 19.03% |
| Materials | 4.96% |
| Real Estate | 3.70% |
| Utilities | 2.89% |
| Repurchase Agreements | 2.28% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LFSFX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9029-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LMVOX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Small Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $98 | 0.98% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -0.43%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 9.87% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Real Estate sector contributed to relative performance, led by an overweight allocation to Cushman & Wakefield Plc. Security selection within the Energy sector also contributed to relative performance, led by an overweight allocation to MEG Energy Corp.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Columbus McKinnon Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iedab564d15b1f6b27201ad5d.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F3** | **Russell 2000 Value Index** | **Russell 2000 Index** | **S&P 500 Index** |
| **6/28/2019** | $10000 | $10000 | $10000 | $10000 |
| **6/30/2019** | $10000 | $10000 | $10000 | $10000 |
| **7/31/2019** | $9967 | $10016 | $10058 | $10144 |
| **8/31/2019** | $9164 | $9457 | $9561 | $9983 |
| **9/30/2019** | $9671 | $9943 | $9760 | $10170 |
| **10/31/2019** | $9785 | $10184 | $10017 | $10390 |
| **11/30/2019** | $10223 | $10422 | $10429 | $10767 |
| **12/31/2019** | $10643 | $10787 | $10730 | $11092 |
| **1/31/2020** | $10128 | $10205 | $10386 | $11088 |
| **2/29/2020** | $9085 | $9213 | $9512 | $10175 |
| **3/31/2020** | $6150 | $6940 | $7445 | $8918 |
| **4/30/2020** | $7017 | $7796 | $8468 | $10062 |
| **5/31/2020** | $7729 | $8020 | $9019 | $10541 |
| **6/30/2020** | $8266 | $8252 | $9337 | $10751 |
| **7/31/2020** | $8407 | $8423 | $9596 | $11357 |
| **8/31/2020** | $8879 | $8876 | $10137 | $12173 |
| **9/30/2020** | $8334 | $8463 | $9798 | $11710 |
| **10/31/2020** | $8720 | $8766 | $10003 | $11399 |
| **11/30/2020** | $10681 | $10458 | $11847 | $12647 |
| **12/31/2020** | $11561 | $11287 | $12872 | $13133 |
| **1/31/2021** | $11825 | $11881 | $13520 | $13000 |
| **2/28/2021** | $13350 | $12997 | $14362 | $13359 |
| **3/31/2021** | $13797 | $13676 | $14506 | $13944 |
| **4/30/2021** | $14364 | $13953 | $14811 | $14688 |
| **5/31/2021** | $14689 | $14387 | $14842 | $14791 |
| **6/30/2021** | $14321 | $14300 | $15129 | $15136 |
| **7/31/2021** | $13818 | $13788 | $14583 | $15496 |
| **8/31/2021** | $13931 | $14157 | $14909 | $15967 |
| **9/30/2021** | $13857 | $13873 | $14469 | $15224 |
| **10/31/2021** | $14364 | $14402 | $15085 | $16291 |
| **11/30/2021** | $13913 | $13910 | $14456 | $16178 |
| **12/31/2021** | $14746 | $14478 | $14779 | $16903 |
| **1/31/2022** | $14100 | $13633 | $13356 | $16028 |
| **2/28/2022** | $14249 | $13859 | $13499 | $15548 |
| **3/31/2022** | $14004 | $14130 | $13667 | $16126 |
| **4/30/2022** | $12861 | $13034 | $12313 | $14719 |
| **5/31/2022** | $13210 | $13284 | $12331 | $14747 |
| **6/30/2022** | $11697 | $11972 | $11317 | $13529 |
| **7/31/2022** | $12794 | $13131 | $12498 | $14777 |
| **8/31/2022** | $12391 | $12715 | $12243 | $14174 |
| **9/30/2022** | $11166 | $11420 | $11069 | $12869 |
| **10/31/2022** | $12540 | $12857 | $12288 | $13911 |
| **11/30/2022** | $13166 | $13250 | $12575 | $14688 |
| **12/31/2022** | $12530 | $12381 | $11759 | $13842 |
| **1/31/2023** | $13813 | $13562 | $12905 | $14711 |
| **2/28/2023** | $13579 | $13250 | $12687 | $14352 |
| **3/31/2023** | $12833 | $12299 | $12081 | $14879 |
| **4/30/2023** | $12719 | $11993 | $11864 | $15112 |
| **5/31/2023** | $12316 | $11757 | $11754 | $15177 |
| **6/30/2023** | $13365 | $12691 | $12710 | $16180 |
| **7/31/2023** | $14041 | $13648 | $13487 | $16700 |
| **8/31/2023** | $13539 | $12992 | $12812 | $16434 |
| **9/30/2023** | $12828 | $12315 | $12058 | $15651 |
| **10/31/2023** | $11963 | $11581 | $11236 | $15321 |
| **11/30/2023** | $12934 | $12623 | $12253 | $16721 |
| **12/31/2023** | $14275 | $14194 | $13750 | $17480 |
| **1/31/2024** | $13961 | $13549 | $13215 | $17774 |
| **2/29/2024** | $14350 | $13993 | $13962 | $18723 |
| **3/31/2024** | $14754 | $14606 | $14462 | $19326 |
| **4/30/2024** | $13772 | $13675 | $13444 | $18536 |
| **5/31/2024** | $14749 | $14315 | $14118 | $19455 |
| **6/30/2024** | $14495 | $14073 | $13988 | $20153 |
| **7/31/2024** | $15861 | $15789 | $15409 | $20399 |
| **8/31/2024** | $15701 | $15492 | $15179 | $20894 |
| **9/30/2024** | $15547 | $15502 | $15285 | $21340 |
| **10/31/2024** | $15257 | $15260 | $15064 | $21146 |
| **11/30/2024** | $16950 | $16732 | $16717 | $22388 |
| **12/31/2024** | $15774 | $15337 | $15336 | $21854 |
| **1/31/2025** | $16013 | $15652 | $15738 | $22462 |
| **2/28/2025** | $15139 | $15053 | $14896 | $22169 |
| **3/31/2025** | $14334 | $14150 | $13882 | $20920 |
| **4/30/2025** | $13630 | $13582 | $13562 | $20778 |
| **5/31/2025** | $13932 | $14152 | $14286 | $22086 |
| **6/30/2025** | $14869 | $14852 | $15062 | $23209 |
| **7/31/2025** | $15213 | $15115 | $15324 | $23730 |
| **8/31/2025** | $15748 | $16395 | $16418 | $24211 |
| **9/30/2025** | $15483 | $16725 | $16929 | $25095 |
| **10/31/2025** | $15192 | $16766 | $17235 | $25683 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 6/28/19 |
| Class F3 at NAV | (0.43%) | 11.74% | 6.82% |
| Russell 2000 Value Index | 9.87% | 13.85% | 8.49% |
| Russell 2000 Index | 14.41% | 11.50% | 8.96% |
| S&P 500 Index | 21.45% | 17.64% | 16.03% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $86141375 |
| # of Portfolio Holdings | 45 |
| Portfolio Turnover Rate | 77% |
| Total Advisory Fees Paid | $684344 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 8.10% |
| Consumer Staples | 1.63% |
| Energy | 3.13% |
| Financials | 25.79% |
| Health Care | 7.05% |
| Industrials | 19.92% |
| Information Technology | 19.03% |
| Materials | 4.96% |
| Real Estate | 3.70% |
| Utilities | 2.89% |
| Repurchase Agreements | 2.28% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LMVOX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9030-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LMVYX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Small Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $103 | 1.03% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -0.47%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 9.87% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Real Estate sector contributed to relative performance, led by an overweight allocation to Cushman & Wakefield Plc. Security selection within the Energy sector also contributed to relative performance, led by an overweight allocation to MEG Energy Corp.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Columbus McKinnon Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i7d6d22ff689ad7e3397a79d0.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **Russell 2000 Value Index** | **Russell 2000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10091 | $10284 | $10325 | $10030 |
| **12/31/2015** | $9773 | $9742 | $9807 | $9872 |
| **1/31/2016** | $9156 | $9088 | $8944 | $9382 |
| **2/29/2016** | $9175 | $9150 | $8944 | $9369 |
| **3/31/2016** | $9874 | $9908 | $9658 | $10005 |
| **4/30/2016** | $10025 | $10118 | $9810 | $10043 |
| **5/31/2016** | $10387 | $10303 | $10030 | $10224 |
| **6/30/2016** | $10623 | $10335 | $10024 | $10250 |
| **7/31/2016** | $11022 | $10892 | $10623 | $10628 |
| **8/31/2016** | $11233 | $11163 | $10811 | $10643 |
| **9/30/2016** | $11353 | $11251 | $10931 | $10645 |
| **10/31/2016** | $10997 | $10881 | $10411 | $10451 |
| **11/30/2016** | $12393 | $12325 | $11572 | $10838 |
| **12/31/2016** | $12772 | $12834 | $11896 | $11052 |
| **1/31/2017** | $12779 | $12743 | $11943 | $11262 |
| **2/28/2017** | $12742 | $12927 | $12174 | $11709 |
| **3/31/2017** | $12675 | $12818 | $12190 | $11723 |
| **4/30/2017** | $12872 | $12868 | $12324 | $11843 |
| **5/31/2017** | $12471 | $12467 | $12073 | $12010 |
| **6/30/2017** | $12887 | $12904 | $12490 | $12085 |
| **7/31/2017** | $12954 | $12985 | $12583 | $12333 |
| **8/31/2017** | $12664 | $12666 | $12423 | $12371 |
| **9/30/2017** | $13444 | $13563 | $13198 | $12626 |
| **10/31/2017** | $13571 | $13581 | $13311 | $12921 |
| **11/30/2017** | $14059 | $13974 | $13694 | $13317 |
| **12/31/2017** | $13731 | $13840 | $13639 | $13465 |
| **1/31/2018** | $14135 | $14011 | $13995 | $14236 |
| **2/28/2018** | $13727 | $13310 | $13454 | $13711 |
| **3/31/2018** | $13789 | $13475 | $13628 | $13363 |
| **4/30/2018** | $13984 | $13709 | $13745 | $13414 |
| **5/31/2018** | $14693 | $14506 | $14580 | $13737 |
| **6/30/2018** | $14968 | $14594 | $14684 | $13822 |
| **7/31/2018** | $14924 | $14852 | $14940 | $14336 |
| **8/31/2018** | $15620 | $15205 | $15584 | $14803 |
| **9/30/2018** | $15235 | $14828 | $15209 | $14887 |
| **10/31/2018** | $13585 | $13500 | $13557 | $13870 |
| **11/30/2018** | $13840 | $13718 | $13773 | $14153 |
| **12/31/2018** | $12452 | $12060 | $12137 | $12875 |
| **1/31/2019** | $13561 | $13379 | $13502 | $13906 |
| **2/28/2019** | $14382 | $13899 | $14204 | $14353 |
| **3/31/2019** | $13892 | $13498 | $13907 | $14632 |
| **4/30/2019** | $14799 | $14009 | $14379 | $15224 |
| **5/31/2019** | $13076 | $12865 | $13261 | $14257 |
| **6/30/2019** | $14129 | $13684 | $14198 | $15262 |
| **7/31/2019** | $14082 | $13706 | $14280 | $15481 |
| **8/31/2019** | $12948 | $12941 | $13575 | $15236 |
| **9/30/2019** | $13659 | $13605 | $13857 | $15521 |
| **10/31/2019** | $13824 | $13935 | $14222 | $15857 |
| **11/30/2019** | $14438 | $14261 | $14808 | $16432 |
| **12/31/2019** | $15032 | $14761 | $15235 | $16928 |
| **1/31/2020** | $14305 | $13964 | $14746 | $16922 |
| **2/29/2020** | $12831 | $12607 | $13505 | $15529 |
| **3/31/2020** | $8683 | $9497 | $10571 | $13611 |
| **4/30/2020** | $9902 | $10668 | $12023 | $15356 |
| **5/31/2020** | $10915 | $10975 | $12805 | $16087 |
| **6/30/2020** | $11667 | $11292 | $13258 | $16407 |
| **7/31/2020** | $11873 | $11525 | $13625 | $17332 |
| **8/31/2020** | $12534 | $12146 | $14392 | $18578 |
| **9/30/2020** | $11764 | $11581 | $13911 | $17872 |
| **10/31/2020** | $12304 | $11995 | $14203 | $17397 |
| **11/30/2020** | $15073 | $14311 | $16821 | $19301 |
| **12/31/2020** | $16316 | $15445 | $18276 | $20043 |
| **1/31/2021** | $16689 | $16257 | $19195 | $19841 |
| **2/28/2021** | $18838 | $17785 | $20392 | $20388 |
| **3/31/2021** | $19469 | $18714 | $20597 | $21281 |
| **4/30/2021** | $20271 | $19093 | $21029 | $22416 |
| **5/31/2021** | $20730 | $19687 | $21072 | $22573 |
| **6/30/2021** | $20210 | $19567 | $21481 | $23100 |
| **7/31/2021** | $19506 | $18867 | $20705 | $23649 |
| **8/31/2021** | $19659 | $19372 | $21168 | $24368 |
| **9/30/2021** | $19554 | $18984 | $20544 | $23234 |
| **10/31/2021** | $20265 | $19708 | $21418 | $24862 |
| **11/30/2021** | $19633 | $19035 | $20525 | $24690 |
| **12/31/2021** | $20803 | $19811 | $20984 | $25797 |
| **1/31/2022** | $19890 | $18656 | $18964 | $24462 |
| **2/28/2022** | $20099 | $18965 | $19166 | $23729 |
| **3/31/2022** | $19754 | $19336 | $19405 | $24610 |
| **4/30/2022** | $18145 | $17835 | $17482 | $22464 |
| **5/31/2022** | $18632 | $18177 | $17508 | $22505 |
| **6/30/2022** | $16495 | $16382 | $16068 | $20648 |
| **7/31/2022** | $18037 | $17968 | $17746 | $22552 |
| **8/31/2022** | $17475 | $17400 | $17382 | $21632 |
| **9/30/2022** | $15744 | $15626 | $15717 | $19640 |
| **10/31/2022** | $17678 | $17594 | $17447 | $21230 |
| **11/30/2022** | $18561 | $18131 | $17854 | $22416 |
| **12/31/2022** | $17662 | $16942 | $16696 | $21125 |
| **1/31/2023** | $19468 | $18558 | $18323 | $22452 |
| **2/28/2023** | $19137 | $18130 | $18013 | $21904 |
| **3/31/2023** | $18091 | $16830 | $17153 | $22708 |
| **4/30/2023** | $17929 | $16411 | $16844 | $23063 |
| **5/31/2023** | $17360 | $16088 | $16689 | $23163 |
| **6/30/2023** | $18835 | $17366 | $18046 | $24693 |
| **7/31/2023** | $19784 | $18676 | $19149 | $25487 |
| **8/31/2023** | $19074 | $17778 | $18191 | $25081 |
| **9/30/2023** | $18077 | $16852 | $17120 | $23885 |
| **10/31/2023** | $16854 | $15847 | $15953 | $23383 |
| **11/30/2023** | $18224 | $17273 | $17396 | $25518 |
| **12/31/2023** | $20105 | $19423 | $19522 | $26678 |
| **1/31/2024** | $19668 | $18541 | $18763 | $27126 |
| **2/29/2024** | $20218 | $19147 | $19824 | $28574 |
| **3/31/2024** | $20788 | $19986 | $20533 | $29494 |
| **4/30/2024** | $19401 | $18713 | $19088 | $28289 |
| **5/31/2024** | $20774 | $19588 | $20046 | $29692 |
| **6/30/2024** | $20415 | $19258 | $19860 | $30757 |
| **7/31/2024** | $22338 | $21605 | $21878 | $31132 |
| **8/31/2024** | $22113 | $21199 | $21551 | $31887 |
| **9/30/2024** | $21894 | $21213 | $21702 | $32568 |
| **10/31/2024** | $21486 | $20881 | $21388 | $32272 |
| **11/30/2024** | $23862 | $22895 | $23735 | $34167 |
| **12/31/2024** | $22216 | $20987 | $21774 | $33352 |
| **1/31/2025** | $22545 | $21419 | $22345 | $34281 |
| **2/28/2025** | $21318 | $20599 | $21150 | $33834 |
| **3/31/2025** | $20188 | $19362 | $19710 | $31928 |
| **4/30/2025** | $19193 | $18585 | $19255 | $31711 |
| **5/31/2025** | $19612 | $19366 | $20283 | $33707 |
| **6/30/2025** | $20937 | $20324 | $21386 | $35421 |
| **7/31/2025** | $21416 | $20683 | $21757 | $36216 |
| **8/31/2025** | $22164 | $22435 | $23311 | $36950 |
| **9/30/2025** | $21797 | $22886 | $24036 | $38299 |
| **10/31/2025** | $21386 | $22943 | $24471 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | (0.47%) | 11.69% | 7.90% |
| Russell 2000 Value Index | 9.87% | 13.85% | 8.66% |
| Russell 2000 Index | 14.41% | 11.50% | 9.36% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $86141375 |
| # of Portfolio Holdings | 45 |
| Portfolio Turnover Rate | 77% |
| Total Advisory Fees Paid | $684344 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 8.10% |
| Consumer Staples | 1.63% |
| Energy | 3.13% |
| Financials | 25.79% |
| Health Care | 7.05% |
| Industrials | 19.92% |
| Information Technology | 19.03% |
| Materials | 4.96% |
| Real Estate | 3.70% |
| Utilities | 2.89% |
| Repurchase Agreements | 2.28% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LMVYX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-699-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LMVVX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Small Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $103 | 1.03% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -0.47%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 9.87% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Real Estate sector contributed to relative performance, led by an overweight allocation to Cushman & Wakefield Plc. Security selection within the Energy sector also contributed to relative performance, led by an overweight allocation to MEG Energy Corp.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Columbus McKinnon Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ic1e565c3a1b23783f18f63d8.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R5** | **Russell 2000 Value Index** | **Russell 2000 Index** | **S&P 500 Index** |
| **6/28/2019** | $10000 | $10000 | $10000 | $10000 |
| **6/30/2019** | $10000 | $10000 | $10000 | $10000 |
| **7/31/2019** | $9967 | $10016 | $10058 | $10144 |
| **8/31/2019** | $9164 | $9457 | $9561 | $9983 |
| **9/30/2019** | $9668 | $9943 | $9760 | $10170 |
| **10/31/2019** | $9785 | $10184 | $10017 | $10390 |
| **11/30/2019** | $10219 | $10422 | $10429 | $10767 |
| **12/31/2019** | $10640 | $10787 | $10730 | $11092 |
| **1/31/2020** | $10124 | $10205 | $10386 | $11088 |
| **2/29/2020** | $9082 | $9213 | $9512 | $10175 |
| **3/31/2020** | $6146 | $6940 | $7445 | $8918 |
| **4/30/2020** | $7009 | $7796 | $8468 | $10062 |
| **5/31/2020** | $7725 | $8020 | $9019 | $10541 |
| **6/30/2020** | $8258 | $8252 | $9337 | $10751 |
| **7/31/2020** | $8403 | $8423 | $9596 | $11357 |
| **8/31/2020** | $8867 | $8876 | $10137 | $12173 |
| **9/30/2020** | $8326 | $8463 | $9798 | $11710 |
| **10/31/2020** | $8708 | $8766 | $10003 | $11399 |
| **11/30/2020** | $10669 | $10458 | $11847 | $12647 |
| **12/31/2020** | $11548 | $11287 | $12872 | $13133 |
| **1/31/2021** | $11813 | $11881 | $13520 | $13000 |
| **2/28/2021** | $13334 | $12997 | $14362 | $13359 |
| **3/31/2021** | $13780 | $13676 | $14506 | $13944 |
| **4/30/2021** | $14348 | $13953 | $14811 | $14688 |
| **5/31/2021** | $14673 | $14387 | $14842 | $14791 |
| **6/30/2021** | $14304 | $14300 | $15129 | $15136 |
| **7/31/2021** | $13806 | $13788 | $14583 | $15496 |
| **8/31/2021** | $13914 | $14157 | $14909 | $15967 |
| **9/30/2021** | $13841 | $13873 | $14469 | $15224 |
| **10/31/2021** | $14343 | $14402 | $15085 | $16291 |
| **11/30/2021** | $13892 | $13910 | $14456 | $16178 |
| **12/31/2021** | $14725 | $14478 | $14779 | $16903 |
| **1/31/2022** | $14079 | $13633 | $13356 | $16028 |
| **2/28/2022** | $14227 | $13859 | $13499 | $15548 |
| **3/31/2022** | $13983 | $14130 | $13667 | $16126 |
| **4/30/2022** | $12844 | $13034 | $12313 | $14719 |
| **5/31/2022** | $13188 | $13284 | $12331 | $14747 |
| **6/30/2022** | $11676 | $11972 | $11317 | $13529 |
| **7/31/2022** | $12767 | $13131 | $12498 | $14777 |
| **8/31/2022** | $12370 | $12715 | $12243 | $14174 |
| **9/30/2022** | $11144 | $11420 | $11069 | $12869 |
| **10/31/2022** | $12518 | $12857 | $12288 | $13911 |
| **11/30/2022** | $13138 | $13250 | $12575 | $14688 |
| **12/31/2022** | $12507 | $12381 | $11759 | $13842 |
| **1/31/2023** | $13780 | $13562 | $12905 | $14711 |
| **2/28/2023** | $13551 | $13250 | $12687 | $14352 |
| **3/31/2023** | $12805 | $12299 | $12081 | $14879 |
| **4/30/2023** | $12691 | $11993 | $11864 | $15112 |
| **5/31/2023** | $12288 | $11757 | $11754 | $15177 |
| **6/30/2023** | $13332 | $12691 | $12710 | $16180 |
| **7/31/2023** | $14004 | $13648 | $13487 | $16700 |
| **8/31/2023** | $13506 | $12992 | $12812 | $16434 |
| **9/30/2023** | $12795 | $12315 | $12058 | $15651 |
| **10/31/2023** | $11935 | $11581 | $11236 | $15321 |
| **11/30/2023** | $12900 | $12623 | $12253 | $16721 |
| **12/31/2023** | $14236 | $14194 | $13750 | $17480 |
| **1/31/2024** | $13927 | $13549 | $13215 | $17774 |
| **2/29/2024** | $14311 | $13993 | $13962 | $18723 |
| **3/31/2024** | $14715 | $14606 | $14462 | $19326 |
| **4/30/2024** | $13732 | $13675 | $13444 | $18536 |
| **5/31/2024** | $14710 | $14315 | $14118 | $19455 |
| **6/30/2024** | $14450 | $14073 | $13988 | $20153 |
| **7/31/2024** | $15817 | $15789 | $15409 | $20399 |
| **8/31/2024** | $15657 | $15492 | $15179 | $20894 |
| **9/30/2024** | $15502 | $15502 | $15285 | $21340 |
| **10/31/2024** | $15213 | $15260 | $15064 | $21146 |
| **11/30/2024** | $16895 | $16732 | $16717 | $22388 |
| **12/31/2024** | $15725 | $15337 | $15336 | $21854 |
| **1/31/2025** | $15958 | $15652 | $15738 | $22462 |
| **2/28/2025** | $15089 | $15053 | $14896 | $22169 |
| **3/31/2025** | $14290 | $14150 | $13882 | $20920 |
| **4/30/2025** | $13585 | $13582 | $13562 | $20778 |
| **5/31/2025** | $13887 | $14152 | $14286 | $22086 |
| **6/30/2025** | $14819 | $14852 | $15062 | $23209 |
| **7/31/2025** | $15164 | $15115 | $15324 | $23730 |
| **8/31/2025** | $15693 | $16395 | $16418 | $24211 |
| **9/30/2025** | $15428 | $16725 | $16929 | $25095 |
| **10/31/2025** | $15142 | $16766 | $17235 | $25683 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 6/28/19 |
| Class R5 at NAV | (0.47%) | 11.70% | 6.76% |
| Russell 2000 Value Index | 9.87% | 13.85% | 8.49% |
| Russell 2000 Index | 14.41% | 11.50% | 8.96% |
| S&P 500 Index | 21.45% | 17.64% | 16.03% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $86141375 |
| # of Portfolio Holdings | 45 |
| Portfolio Turnover Rate | 77% |
| Total Advisory Fees Paid | $684344 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 8.10% |
| Consumer Staples | 1.63% |
| Energy | 3.13% |
| Financials | 25.79% |
| Health Care | 7.05% |
| Industrials | 19.92% |
| Information Technology | 19.03% |
| Materials | 4.96% |
| Real Estate | 3.70% |
| Utilities | 2.89% |
| Repurchase Agreements | 2.28% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LMVVX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9034-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LMVWX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Small Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $99 | 0.99% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -0.43%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 9.87% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Real Estate sector contributed to relative performance, led by an overweight allocation to Cushman & Wakefield Plc. Security selection within the Energy sector also contributed to relative performance, led by an overweight allocation to MEG Energy Corp.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Columbus McKinnon Corporation.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i2ba40cfd92b62e7abc009fb7.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **Russell 2000 Value Index** | **Russell 2000 Index** | **S&P 500 Index** |
| **6/28/2019** | $10000 | $10000 | $10000 | $10000 |
| **6/30/2019** | $10000 | $10000 | $10000 | $10000 |
| **7/31/2019** | $9971 | $10016 | $10058 | $10144 |
| **8/31/2019** | $9168 | $9457 | $9561 | $9983 |
| **9/30/2019** | $9671 | $9943 | $9760 | $10170 |
| **10/31/2019** | $9788 | $10184 | $10017 | $10390 |
| **11/30/2019** | $10226 | $10422 | $10429 | $10767 |
| **12/31/2019** | $10647 | $10787 | $10730 | $11092 |
| **1/31/2020** | $10132 | $10205 | $10386 | $11088 |
| **2/29/2020** | $9089 | $9213 | $9512 | $10175 |
| **3/31/2020** | $6149 | $6940 | $7445 | $8918 |
| **4/30/2020** | $7016 | $7796 | $8468 | $10062 |
| **5/31/2020** | $7733 | $8020 | $9019 | $10541 |
| **6/30/2020** | $8265 | $8252 | $9337 | $10751 |
| **7/31/2020** | $8411 | $8423 | $9596 | $11357 |
| **8/31/2020** | $8879 | $8876 | $10137 | $12173 |
| **9/30/2020** | $8338 | $8463 | $9798 | $11710 |
| **10/31/2020** | $8724 | $8766 | $10003 | $11399 |
| **11/30/2020** | $10685 | $10458 | $11847 | $12647 |
| **12/31/2020** | $11564 | $11287 | $12872 | $13133 |
| **1/31/2021** | $11829 | $11881 | $13520 | $13000 |
| **2/28/2021** | $13354 | $12997 | $14362 | $13359 |
| **3/31/2021** | $13800 | $13676 | $14506 | $13944 |
| **4/30/2021** | $14368 | $13953 | $14811 | $14688 |
| **5/31/2021** | $14693 | $14387 | $14842 | $14791 |
| **6/30/2021** | $14324 | $14300 | $15129 | $15136 |
| **7/31/2021** | $13822 | $13788 | $14583 | $15496 |
| **8/31/2021** | $13934 | $14157 | $14909 | $15967 |
| **9/30/2021** | $13861 | $13873 | $14469 | $15224 |
| **10/31/2021** | $14368 | $14402 | $15085 | $16291 |
| **11/30/2021** | $13917 | $13910 | $14456 | $16178 |
| **12/31/2021** | $14750 | $14478 | $14779 | $16903 |
| **1/31/2022** | $14104 | $13633 | $13356 | $16028 |
| **2/28/2022** | $14252 | $13859 | $13499 | $15548 |
| **3/31/2022** | $14008 | $14130 | $13667 | $16126 |
| **4/30/2022** | $12864 | $13034 | $12313 | $14719 |
| **5/31/2022** | $13213 | $13284 | $12331 | $14747 |
| **6/30/2022** | $11696 | $11972 | $11317 | $13529 |
| **7/31/2022** | $12792 | $13131 | $12498 | $14777 |
| **8/31/2022** | $12390 | $12715 | $12243 | $14174 |
| **9/30/2022** | $11165 | $11420 | $11069 | $12869 |
| **10/31/2022** | $12539 | $12857 | $12288 | $13911 |
| **11/30/2022** | $13165 | $13250 | $12575 | $14688 |
| **12/31/2022** | $12529 | $12381 | $11759 | $13842 |
| **1/31/2023** | $13811 | $13562 | $12905 | $14711 |
| **2/28/2023** | $13578 | $13250 | $12687 | $14352 |
| **3/31/2023** | $12832 | $12299 | $12081 | $14879 |
| **4/30/2023** | $12723 | $11993 | $11864 | $15112 |
| **5/31/2023** | $12315 | $11757 | $11754 | $15177 |
| **6/30/2023** | $13364 | $12691 | $12710 | $16180 |
| **7/31/2023** | $14040 | $13648 | $13487 | $16700 |
| **8/31/2023** | $13538 | $12992 | $12812 | $16434 |
| **9/30/2023** | $12827 | $12315 | $12058 | $15651 |
| **10/31/2023** | $11962 | $11581 | $11236 | $15321 |
| **11/30/2023** | $12933 | $12623 | $12253 | $16721 |
| **12/31/2023** | $14274 | $14194 | $13750 | $17480 |
| **1/31/2024** | $13960 | $13549 | $13215 | $17774 |
| **2/29/2024** | $14348 | $13993 | $13962 | $18723 |
| **3/31/2024** | $14757 | $14606 | $14462 | $19326 |
| **4/30/2024** | $13770 | $13675 | $13444 | $18536 |
| **5/31/2024** | $14747 | $14315 | $14118 | $19455 |
| **6/30/2024** | $14493 | $14073 | $13988 | $20153 |
| **7/31/2024** | $15859 | $15789 | $15409 | $20399 |
| **8/31/2024** | $15700 | $15492 | $15179 | $20894 |
| **9/30/2024** | $15545 | $15502 | $15285 | $21340 |
| **10/31/2024** | $15256 | $15260 | $15064 | $21146 |
| **11/30/2024** | $16948 | $16732 | $16717 | $22388 |
| **12/31/2024** | $15773 | $15337 | $15336 | $21854 |
| **1/31/2025** | $16011 | $15652 | $15738 | $22462 |
| **2/28/2025** | $15137 | $15053 | $14896 | $22169 |
| **3/31/2025** | $14333 | $14150 | $13882 | $20920 |
| **4/30/2025** | $13628 | $13582 | $13562 | $20778 |
| **5/31/2025** | $13930 | $14152 | $14286 | $22086 |
| **6/30/2025** | $14867 | $14852 | $15062 | $23209 |
| **7/31/2025** | $15211 | $15115 | $15324 | $23730 |
| **8/31/2025** | $15746 | $16395 | $16418 | $24211 |
| **9/30/2025** | $15482 | $16725 | $16929 | $25095 |
| **10/31/2025** | $15190 | $16766 | $17235 | $25683 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 6/28/19 |
| Class R6 at NAV | (0.43%) | 11.73% | 6.81% |
| Russell 2000 Value Index | 9.87% | 13.85% | 8.49% |
| Russell 2000 Index | 14.41% | 11.50% | 8.96% |
| S&P 500 Index | 21.45% | 17.64% | 16.03% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $86141375 |
| # of Portfolio Holdings | 45 |
| Portfolio Turnover Rate | 77% |
| Total Advisory Fees Paid | $684344 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 8.10% |
| Consumer Staples | 1.63% |
| Energy | 3.13% |
| Financials | 25.79% |
| Health Care | 7.05% |
| Industrials | 19.92% |
| Information Technology | 19.03% |
| Materials | 4.96% |
| Real Estate | 3.70% |
| Utilities | 2.89% |
| Repurchase Agreements | 2.28% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LMVWX

# Lord Abbett Focused Small Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9035-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LFGAX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $126 | 1.05% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.40%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i22b933768aabc1187f88165f.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A with load** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $9422 | $10000 | $10000 |
| **2/28/2019** | $10038 | $10358 | $10321 |
| **3/31/2019** | $10069 | $10653 | $10522 |
| **4/30/2019** | $10408 | $11134 | $10948 |
| **5/31/2019** | $9925 | $10431 | $10252 |
| **6/30/2019** | $10515 | $11147 | $10974 |
| **7/31/2019** | $10892 | $11399 | $11132 |
| **8/31/2019** | $10578 | $11311 | $10956 |
| **9/30/2019** | $9642 | $11313 | $11161 |
| **10/31/2019** | $9975 | $11632 | $11403 |
| **11/30/2019** | $10590 | $12148 | $11816 |
| **12/31/2019** | $10898 | $12514 | $12173 |
| **1/31/2020** | $11369 | $12794 | $12168 |
| **2/29/2020** | $11005 | $11923 | $11167 |
| **3/31/2020** | $10113 | $10750 | $9787 |
| **4/30/2020** | $11652 | $12340 | $11042 |
| **5/31/2020** | $13084 | $13169 | $11568 |
| **6/30/2020** | $14359 | $13742 | $11798 |
| **7/31/2020** | $15754 | $14799 | $12463 |
| **8/31/2020** | $17557 | $16327 | $13359 |
| **9/30/2020** | $17399 | $15559 | $12852 |
| **10/31/2020** | $16897 | $15030 | $12510 |
| **11/30/2020** | $19021 | $16569 | $13879 |
| **12/31/2020** | $20282 | $17331 | $14413 |
| **1/31/2021** | $20208 | $17203 | $14267 |
| **2/28/2021** | $20764 | $17199 | $14661 |
| **3/31/2021** | $19806 | $17494 | $15303 |
| **4/30/2021** | $21113 | $18685 | $16120 |
| **5/31/2021** | $20409 | $18426 | $16232 |
| **6/30/2021** | $21716 | $19582 | $16611 |
| **7/31/2021** | $22273 | $20228 | $17006 |
| **8/31/2021** | $23091 | $20984 | $17523 |
| **9/30/2021** | $21703 | $19809 | $16708 |
| **10/31/2021** | $24244 | $21524 | $17878 |
| **11/30/2021** | $24108 | $21656 | $17754 |
| **12/31/2021** | $22907 | $22114 | $18550 |
| **1/31/2022** | $19987 | $20216 | $17590 |
| **2/28/2022** | $19444 | $19357 | $17064 |
| **3/31/2022** | $19925 | $20115 | $17697 |
| **4/30/2022** | $17182 | $17685 | $16154 |
| **5/31/2022** | $16121 | $17274 | $16184 |
| **6/30/2022** | $15044 | $15906 | $14848 |
| **7/31/2022** | $16702 | $17815 | $16217 |
| **8/31/2022** | $16136 | $16985 | $15555 |
| **9/30/2022** | $14757 | $15334 | $14123 |
| **10/31/2022** | $15292 | $16230 | $15266 |
| **11/30/2022** | $15393 | $16970 | $16119 |
| **12/31/2022** | $13960 | $15671 | $15191 |
| **1/31/2023** | $14974 | $16977 | $16145 |
| **2/28/2023** | $14525 | $16775 | $15751 |
| **3/31/2023** | $15555 | $17922 | $16329 |
| **4/30/2023** | $15222 | $18099 | $16584 |
| **5/31/2023** | $16152 | $18924 | $16656 |
| **6/30/2023** | $17260 | $20218 | $17757 |
| **7/31/2023** | $17887 | $20899 | $18327 |
| **8/31/2023** | $17663 | $20711 | $18036 |
| **9/30/2023** | $16361 | $19585 | $17176 |
| **10/31/2023** | $15865 | $19306 | $16815 |
| **11/30/2023** | $18127 | $21410 | $18350 |
| **12/31/2023** | $18677 | $22359 | $19184 |
| **1/31/2024** | $19824 | $22916 | $19506 |
| **2/29/2024** | $21613 | $24480 | $20548 |
| **3/31/2024** | $21915 | $24911 | $21209 |
| **4/30/2024** | $20560 | $23854 | $20343 |
| **5/31/2024** | $21691 | $25282 | $21351 |
| **6/30/2024** | $23341 | $26987 | $22117 |
| **7/31/2024** | $21985 | $26528 | $22387 |
| **8/31/2024** | $22876 | $27080 | $22930 |
| **9/30/2024** | $23852 | $27848 | $23419 |
| **10/31/2024** | $24697 | $27755 | $23207 |
| **11/30/2024** | $28190 | $29556 | $24569 |
| **12/31/2024** | $28113 | $29816 | $23983 |
| **1/31/2025** | $29484 | $30406 | $24651 |
| **2/28/2025** | $27524 | $29314 | $24330 |
| **3/31/2025** | $24317 | $26835 | $22959 |
| **4/30/2025** | $25704 | $27292 | $22803 |
| **5/31/2025** | $28392 | $29734 | $24239 |
| **6/30/2025** | $30615 | $31660 | $25471 |
| **7/31/2025** | $31560 | $32856 | $26043 |
| **8/31/2025** | $31878 | $33223 | $26571 |
| **9/30/2025** | $33419 | $34984 | $27541 |
| **10/31/2025** | $34426 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class A at NAV | 39.40% | 15.30% | 21.17% |
| Class A with sales charge | 31.40% | 13.94% | 20.11% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LFGAX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8895-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LFGCX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $214 | 1.80% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 38.33%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ia61d2d7ac06a44d61432aac3.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C with load** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10647 | $10358 | $10321 |
| **3/31/2019** | $10673 | $10653 | $10522 |
| **4/30/2019** | $11027 | $11134 | $10948 |
| **5/31/2019** | $10507 | $10431 | $10252 |
| **6/30/2019** | $11127 | $11147 | $10974 |
| **7/31/2019** | $11513 | $11399 | $11132 |
| **8/31/2019** | $11180 | $11311 | $10956 |
| **9/30/2019** | $10180 | $11313 | $11161 |
| **10/31/2019** | $10533 | $11632 | $11403 |
| **11/30/2019** | $11173 | $12148 | $11816 |
| **12/31/2019** | $11493 | $12514 | $12173 |
| **1/31/2020** | $11980 | $12794 | $12168 |
| **2/29/2020** | $11593 | $11923 | $11167 |
| **3/31/2020** | $10640 | $10750 | $9787 |
| **4/30/2020** | $12253 | $12340 | $11042 |
| **5/31/2020** | $13753 | $13169 | $11568 |
| **6/30/2020** | $15080 | $13742 | $11798 |
| **7/31/2020** | $16540 | $14799 | $12463 |
| **8/31/2020** | $18420 | $16327 | $13359 |
| **9/30/2020** | $18247 | $15559 | $12852 |
| **10/31/2020** | $17707 | $15030 | $12510 |
| **11/30/2020** | $19914 | $16569 | $13879 |
| **12/31/2020** | $21231 | $17331 | $14413 |
| **1/31/2021** | $21139 | $17203 | $14267 |
| **2/28/2021** | $21708 | $17199 | $14661 |
| **3/31/2021** | $20690 | $17494 | $15303 |
| **4/30/2021** | $22043 | $18685 | $16120 |
| **5/31/2021** | $21295 | $18426 | $16232 |
| **6/30/2021** | $22641 | $19582 | $16611 |
| **7/31/2021** | $23211 | $20228 | $17006 |
| **8/31/2021** | $24044 | $20984 | $17523 |
| **9/30/2021** | $22584 | $19809 | $16708 |
| **10/31/2021** | $25220 | $21524 | $17878 |
| **11/30/2021** | $25060 | $21656 | $17754 |
| **12/31/2021** | $23797 | $22114 | $18550 |
| **1/31/2022** | $20750 | $20216 | $17590 |
| **2/28/2022** | $20172 | $19357 | $17064 |
| **3/31/2022** | $20659 | $20115 | $17697 |
| **4/30/2022** | $17802 | $17685 | $16154 |
| **5/31/2022** | $16696 | $17274 | $16184 |
| **6/30/2022** | $15573 | $15906 | $14848 |
| **7/31/2022** | $17274 | $17815 | $16217 |
| **8/31/2022** | $16679 | $16985 | $15555 |
| **9/30/2022** | $15242 | $15334 | $14123 |
| **10/31/2022** | $15787 | $16230 | $15266 |
| **11/30/2022** | $15886 | $16970 | $16119 |
| **12/31/2022** | $14392 | $15671 | $15191 |
| **1/31/2023** | $15432 | $16977 | $16145 |
| **2/28/2023** | $14953 | $16775 | $15751 |
| **3/31/2023** | $16002 | $17922 | $16329 |
| **4/30/2023** | $15647 | $18099 | $16584 |
| **5/31/2023** | $16605 | $18924 | $16656 |
| **6/30/2023** | $17719 | $20218 | $17757 |
| **7/31/2023** | $18355 | $20899 | $18327 |
| **8/31/2023** | $18124 | $20711 | $18036 |
| **9/30/2023** | $16770 | $19585 | $17176 |
| **10/31/2023** | $16250 | $19306 | $16815 |
| **11/30/2023** | $18562 | $21410 | $18350 |
| **12/31/2023** | $19115 | $22359 | $19184 |
| **1/31/2024** | $20271 | $22916 | $19506 |
| **2/29/2024** | $22087 | $24480 | $20548 |
| **3/31/2024** | $22376 | $24911 | $21209 |
| **4/30/2024** | $20989 | $23854 | $20343 |
| **5/31/2024** | $22129 | $25282 | $21351 |
| **6/30/2024** | $23788 | $26987 | $22117 |
| **7/31/2024** | $22393 | $26528 | $22387 |
| **8/31/2024** | $23285 | $27080 | $22930 |
| **9/30/2024** | $24267 | $27848 | $23419 |
| **10/31/2024** | $25118 | $27755 | $23207 |
| **11/30/2024** | $28643 | $29556 | $24569 |
| **12/31/2024** | $28553 | $29816 | $23983 |
| **1/31/2025** | $29923 | $30406 | $24651 |
| **2/28/2025** | $27917 | $29314 | $24330 |
| **3/31/2025** | $24647 | $26835 | $22959 |
| **4/30/2025** | $26042 | $27292 | $22803 |
| **5/31/2025** | $28743 | $29734 | $24239 |
| **6/30/2025** | $30972 | $31660 | $25471 |
| **7/31/2025** | $31913 | $32856 | $26043 |
| **8/31/2025** | $32219 | $33223 | $26571 |
| **9/30/2025** | $33746 | $34984 | $27541 |
| **10/31/2025** | $34745 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class C at NAV | 38.33% | 14.43% | 20.27% |
| Class C with sales charge | 37.33% | 14.43% | 20.27% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LFGCX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8896-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LFGFX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $96 | 0.80% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.75%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ide618f647f0b0e447054b55f.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10653 | $10358 | $10321 |
| **3/31/2019** | $10693 | $10653 | $10522 |
| **4/30/2019** | $11053 | $11134 | $10948 |
| **5/31/2019** | $10540 | $10431 | $10252 |
| **6/30/2019** | $11173 | $11147 | $10974 |
| **7/31/2019** | $11573 | $11399 | $11132 |
| **8/31/2019** | $11247 | $11311 | $10956 |
| **9/30/2019** | $10247 | $11313 | $11161 |
| **10/31/2019** | $10607 | $11632 | $11403 |
| **11/30/2019** | $11267 | $12148 | $11816 |
| **12/31/2019** | $11593 | $12514 | $12173 |
| **1/31/2020** | $12100 | $12794 | $12168 |
| **2/29/2020** | $11713 | $11923 | $11167 |
| **3/31/2020** | $10767 | $10750 | $9787 |
| **4/30/2020** | $12407 | $12340 | $11042 |
| **5/31/2020** | $13940 | $13169 | $11568 |
| **6/30/2020** | $15293 | $13742 | $11798 |
| **7/31/2020** | $16787 | $14799 | $12463 |
| **8/31/2020** | $18713 | $16327 | $13359 |
| **9/30/2020** | $18553 | $15559 | $12852 |
| **10/31/2020** | $18020 | $15030 | $12510 |
| **11/30/2020** | $20288 | $16569 | $13879 |
| **12/31/2020** | $21639 | $17331 | $14413 |
| **1/31/2021** | $21561 | $17203 | $14267 |
| **2/28/2021** | $22158 | $17199 | $14661 |
| **3/31/2021** | $21141 | $17494 | $15303 |
| **4/30/2021** | $22543 | $18685 | $16120 |
| **5/31/2021** | $21796 | $18426 | $16232 |
| **6/30/2021** | $23197 | $19582 | $16611 |
| **7/31/2021** | $23802 | $20228 | $17006 |
| **8/31/2021** | $24677 | $20984 | $17523 |
| **9/30/2021** | $23197 | $19809 | $16708 |
| **10/31/2021** | $25921 | $21524 | $17878 |
| **11/30/2021** | $25777 | $21656 | $17754 |
| **12/31/2021** | $24505 | $22114 | $18550 |
| **1/31/2022** | $21377 | $20216 | $17590 |
| **2/28/2022** | $20802 | $19357 | $17064 |
| **3/31/2022** | $21328 | $20115 | $17697 |
| **4/30/2022** | $18389 | $17685 | $16154 |
| **5/31/2022** | $17264 | $17274 | $16184 |
| **6/30/2022** | $16115 | $15906 | $14848 |
| **7/31/2022** | $17888 | $17815 | $16217 |
| **8/31/2022** | $17289 | $16985 | $15555 |
| **9/30/2022** | $15811 | $15334 | $14123 |
| **10/31/2022** | $16386 | $16230 | $15266 |
| **11/30/2022** | $16501 | $16970 | $16119 |
| **12/31/2022** | $14965 | $15671 | $15191 |
| **1/31/2023** | $16057 | $16977 | $16145 |
| **2/28/2023** | $15573 | $16775 | $15751 |
| **3/31/2023** | $16681 | $17922 | $16329 |
| **4/30/2023** | $16328 | $18099 | $16584 |
| **5/31/2023** | $17338 | $18924 | $16656 |
| **6/30/2023** | $18520 | $20218 | $17757 |
| **7/31/2023** | $19201 | $20899 | $18327 |
| **8/31/2023** | $18972 | $20711 | $18036 |
| **9/30/2023** | $17576 | $19585 | $17176 |
| **10/31/2023** | $17042 | $19306 | $16815 |
| **11/30/2023** | $19481 | $21410 | $18350 |
| **12/31/2023** | $20072 | $22359 | $19184 |
| **1/31/2024** | $21303 | $22916 | $19506 |
| **2/29/2024** | $23232 | $24480 | $20548 |
| **3/31/2024** | $23569 | $24911 | $21209 |
| **4/30/2024** | $22116 | $23854 | $20343 |
| **5/31/2024** | $23339 | $25282 | $21351 |
| **6/30/2024** | $25112 | $26987 | $22117 |
| **7/31/2024** | $23659 | $26528 | $22387 |
| **8/31/2024** | $24628 | $27080 | $22930 |
| **9/30/2024** | $25679 | $27848 | $23419 |
| **10/31/2024** | $26598 | $27755 | $23207 |
| **11/30/2024** | $30358 | $29556 | $24569 |
| **12/31/2024** | $30292 | $29816 | $23983 |
| **1/31/2025** | $31778 | $30406 | $24651 |
| **2/28/2025** | $29668 | $29314 | $24330 |
| **3/31/2025** | $26212 | $26835 | $22959 |
| **4/30/2025** | $27714 | $27292 | $22803 |
| **5/31/2025** | $30621 | $29734 | $24239 |
| **6/30/2025** | $33026 | $31660 | $25471 |
| **7/31/2025** | $34052 | $32856 | $26043 |
| **8/31/2025** | $34405 | $33223 | $26571 |
| **9/30/2025** | $36071 | $34984 | $27541 |
| **10/31/2025** | $37172 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class F at NAV | 39.75% | 15.58% | 21.48% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LFGFX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8897-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LFGOX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $82 | 0.68% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.89%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i7f19d4621b9eb66f7a7ac825.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F3** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10660 | $10358 | $10321 |
| **3/31/2019** | $10693 | $10653 | $10522 |
| **4/30/2019** | $11053 | $11134 | $10948 |
| **5/31/2019** | $10547 | $10431 | $10252 |
| **6/30/2019** | $11180 | $11147 | $10974 |
| **7/31/2019** | $11580 | $11399 | $11132 |
| **8/31/2019** | $11253 | $11311 | $10956 |
| **9/30/2019** | $10253 | $11313 | $11161 |
| **10/31/2019** | $10613 | $11632 | $11403 |
| **11/30/2019** | $11273 | $12148 | $11816 |
| **12/31/2019** | $11607 | $12514 | $12173 |
| **1/31/2020** | $12113 | $12794 | $12168 |
| **2/29/2020** | $11727 | $11923 | $11167 |
| **3/31/2020** | $10773 | $10750 | $9787 |
| **4/30/2020** | $12420 | $12340 | $11042 |
| **5/31/2020** | $13953 | $13169 | $11568 |
| **6/30/2020** | $15307 | $13742 | $11798 |
| **7/31/2020** | $16807 | $14799 | $12463 |
| **8/31/2020** | $18733 | $16327 | $13359 |
| **9/30/2020** | $18573 | $15559 | $12852 |
| **10/31/2020** | $18040 | $15030 | $12510 |
| **11/30/2020** | $20307 | $16569 | $13879 |
| **12/31/2020** | $21666 | $17331 | $14413 |
| **1/31/2021** | $21595 | $17203 | $14267 |
| **2/28/2021** | $22192 | $17199 | $14661 |
| **3/31/2021** | $21175 | $17494 | $15303 |
| **4/30/2021** | $22576 | $18685 | $16120 |
| **5/31/2021** | $21829 | $18426 | $16232 |
| **6/30/2021** | $23230 | $19582 | $16611 |
| **7/31/2021** | $23835 | $20228 | $17006 |
| **8/31/2021** | $24717 | $20984 | $17523 |
| **9/30/2021** | $23230 | $19809 | $16708 |
| **10/31/2021** | $25969 | $21524 | $17878 |
| **11/30/2021** | $25825 | $21656 | $17754 |
| **12/31/2021** | $24544 | $22114 | $18550 |
| **1/31/2022** | $21418 | $20216 | $17590 |
| **2/28/2022** | $20843 | $19357 | $17064 |
| **3/31/2022** | $21360 | $20115 | $17697 |
| **4/30/2022** | $18423 | $17685 | $16154 |
| **5/31/2022** | $17298 | $17274 | $16184 |
| **6/30/2022** | $16150 | $15906 | $14848 |
| **7/31/2022** | $17930 | $17815 | $16217 |
| **8/31/2022** | $17323 | $16985 | $15555 |
| **9/30/2022** | $15854 | $15334 | $14123 |
| **10/31/2022** | $16429 | $16230 | $15266 |
| **11/30/2022** | $16543 | $16970 | $16119 |
| **12/31/2022** | $15009 | $15671 | $15191 |
| **1/31/2023** | $16109 | $16977 | $16145 |
| **2/28/2023** | $15624 | $16775 | $15751 |
| **3/31/2023** | $16732 | $17922 | $16329 |
| **4/30/2023** | $16379 | $18099 | $16584 |
| **5/31/2023** | $17389 | $18924 | $16656 |
| **6/30/2023** | $18587 | $20218 | $17757 |
| **7/31/2023** | $19268 | $20899 | $18327 |
| **8/31/2023** | $19038 | $20711 | $18036 |
| **9/30/2023** | $17635 | $19585 | $17176 |
| **10/31/2023** | $17110 | $19306 | $16815 |
| **11/30/2023** | $19555 | $21410 | $18350 |
| **12/31/2023** | $20154 | $22359 | $19184 |
| **1/31/2024** | $21393 | $22916 | $19506 |
| **2/29/2024** | $23338 | $24480 | $20548 |
| **3/31/2024** | $23666 | $24911 | $21209 |
| **4/30/2024** | $22214 | $23854 | $20343 |
| **5/31/2024** | $23445 | $25282 | $21351 |
| **6/30/2024** | $25234 | $26987 | $22117 |
| **7/31/2024** | $23773 | $26528 | $22387 |
| **8/31/2024** | $24750 | $27080 | $22930 |
| **9/30/2024** | $25816 | $27848 | $23419 |
| **10/31/2024** | $26744 | $27755 | $23207 |
| **11/30/2024** | $30527 | $29556 | $24569 |
| **12/31/2024** | $30461 | $29816 | $23983 |
| **1/31/2025** | $31955 | $30406 | $24651 |
| **2/28/2025** | $29837 | $29314 | $24330 |
| **3/31/2025** | $26366 | $26835 | $22959 |
| **4/30/2025** | $27876 | $27292 | $22803 |
| **5/31/2025** | $30806 | $29734 | $24239 |
| **6/30/2025** | $33226 | $31660 | $25471 |
| **7/31/2025** | $34260 | $32856 | $26043 |
| **8/31/2025** | $34622 | $33223 | $26571 |
| **9/30/2025** | $36304 | $34984 | $27541 |
| **10/31/2025** | $37412 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class F3 at NAV | 39.89% | 15.71% | 21.59% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

Expenses: As of March 1, 2025, the expense limitation on total net annual operating expenses increased from 0.65% to 0.70% as part of the annual review of transfer agency expenses.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LFGOX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8899-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LFGIX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $96 | 0.80% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.77%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ia422c3c07aaad9f56f3f2a42.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10660 | $10358 | $10321 |
| **3/31/2019** | $10693 | $10653 | $10522 |
| **4/30/2019** | $11053 | $11134 | $10948 |
| **5/31/2019** | $10547 | $10431 | $10252 |
| **6/30/2019** | $11173 | $11147 | $10974 |
| **7/31/2019** | $11573 | $11399 | $11132 |
| **8/31/2019** | $11247 | $11311 | $10956 |
| **9/30/2019** | $10253 | $11313 | $11161 |
| **10/31/2019** | $10613 | $11632 | $11403 |
| **11/30/2019** | $11267 | $12148 | $11816 |
| **12/31/2019** | $11600 | $12514 | $12173 |
| **1/31/2020** | $12100 | $12794 | $12168 |
| **2/29/2020** | $11720 | $11923 | $11167 |
| **3/31/2020** | $10767 | $10750 | $9787 |
| **4/30/2020** | $12407 | $12340 | $11042 |
| **5/31/2020** | $13940 | $13169 | $11568 |
| **6/30/2020** | $15293 | $13742 | $11798 |
| **7/31/2020** | $16787 | $14799 | $12463 |
| **8/31/2020** | $18713 | $16327 | $13359 |
| **9/30/2020** | $18553 | $15559 | $12852 |
| **10/31/2020** | $18013 | $15030 | $12510 |
| **11/30/2020** | $20280 | $16569 | $13879 |
| **12/31/2020** | $21639 | $17331 | $14413 |
| **1/31/2021** | $21561 | $17203 | $14267 |
| **2/28/2021** | $22158 | $17199 | $14661 |
| **3/31/2021** | $21141 | $17494 | $15303 |
| **4/30/2021** | $22543 | $18685 | $16120 |
| **5/31/2021** | $21796 | $18426 | $16232 |
| **6/30/2021** | $23197 | $19582 | $16611 |
| **7/31/2021** | $23802 | $20228 | $17006 |
| **8/31/2021** | $24677 | $20984 | $17523 |
| **9/30/2021** | $23197 | $19809 | $16708 |
| **10/31/2021** | $25921 | $21524 | $17878 |
| **11/30/2021** | $25777 | $21656 | $17754 |
| **12/31/2021** | $24496 | $22114 | $18550 |
| **1/31/2022** | $21377 | $20216 | $17590 |
| **2/28/2022** | $20802 | $19357 | $17064 |
| **3/31/2022** | $21319 | $20115 | $17697 |
| **4/30/2022** | $18389 | $17685 | $16154 |
| **5/31/2022** | $17264 | $17274 | $16184 |
| **6/30/2022** | $16115 | $15906 | $14848 |
| **7/31/2022** | $17888 | $17815 | $16217 |
| **8/31/2022** | $17289 | $16985 | $15555 |
| **9/30/2022** | $15811 | $15334 | $14123 |
| **10/31/2022** | $16386 | $16230 | $15266 |
| **11/30/2022** | $16509 | $16970 | $16119 |
| **12/31/2022** | $14974 | $15671 | $15191 |
| **1/31/2023** | $16066 | $16977 | $16145 |
| **2/28/2023** | $15581 | $16775 | $15751 |
| **3/31/2023** | $16689 | $17922 | $16329 |
| **4/30/2023** | $16336 | $18099 | $16584 |
| **5/31/2023** | $17338 | $18924 | $16656 |
| **6/30/2023** | $18528 | $20218 | $17757 |
| **7/31/2023** | $19210 | $20899 | $18327 |
| **8/31/2023** | $18972 | $20711 | $18036 |
| **9/30/2023** | $17576 | $19585 | $17176 |
| **10/31/2023** | $17051 | $19306 | $16815 |
| **11/30/2023** | $19481 | $21410 | $18350 |
| **12/31/2023** | $20080 | $22359 | $19184 |
| **1/31/2024** | $21311 | $22916 | $19506 |
| **2/29/2024** | $23240 | $24480 | $20548 |
| **3/31/2024** | $23569 | $24911 | $21209 |
| **4/30/2024** | $22124 | $23854 | $20343 |
| **5/31/2024** | $23347 | $25282 | $21351 |
| **6/30/2024** | $25120 | $26987 | $22117 |
| **7/31/2024** | $23667 | $26528 | $22387 |
| **8/31/2024** | $24636 | $27080 | $22930 |
| **9/30/2024** | $25687 | $27848 | $23419 |
| **10/31/2024** | $26606 | $27755 | $23207 |
| **11/30/2024** | $30374 | $29556 | $24569 |
| **12/31/2024** | $30300 | $29816 | $23983 |
| **1/31/2025** | $31786 | $30406 | $24651 |
| **2/28/2025** | $29676 | $29314 | $24330 |
| **3/31/2025** | $26220 | $26835 | $22959 |
| **4/30/2025** | $27723 | $27292 | $22803 |
| **5/31/2025** | $30637 | $29734 | $24239 |
| **6/30/2025** | $33034 | $31660 | $25471 |
| **7/31/2025** | $34068 | $32856 | $26043 |
| **8/31/2025** | $34421 | $33223 | $26571 |
| **9/30/2025** | $36088 | $34984 | $27541 |
| **10/31/2025** | $37188 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class I at NAV | 39.77% | 15.60% | 21.49% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LFGIX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8898-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LFGQX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $155 | 1.30% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.01%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9dd8e193fc1c6f2d0aa126e6.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R3** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10653 | $10358 | $10321 |
| **3/31/2019** | $10687 | $10653 | $10522 |
| **4/30/2019** | $11040 | $11134 | $10948 |
| **5/31/2019** | $10527 | $10431 | $10252 |
| **6/30/2019** | $11153 | $11147 | $10974 |
| **7/31/2019** | $11547 | $11399 | $11132 |
| **8/31/2019** | $11213 | $11311 | $10956 |
| **9/30/2019** | $10213 | $11313 | $11161 |
| **10/31/2019** | $10573 | $11632 | $11403 |
| **11/30/2019** | $11220 | $12148 | $11816 |
| **12/31/2019** | $11540 | $12514 | $12173 |
| **1/31/2020** | $12040 | $12794 | $12168 |
| **2/29/2020** | $11653 | $11923 | $11167 |
| **3/31/2020** | $10700 | $10750 | $9787 |
| **4/30/2020** | $12327 | $12340 | $11042 |
| **5/31/2020** | $13847 | $13169 | $11568 |
| **6/30/2020** | $15187 | $13742 | $11798 |
| **7/31/2020** | $16660 | $14799 | $12463 |
| **8/31/2020** | $18567 | $16327 | $13359 |
| **9/30/2020** | $18400 | $15559 | $12852 |
| **10/31/2020** | $17860 | $15030 | $12510 |
| **11/30/2020** | $20101 | $16569 | $13879 |
| **12/31/2020** | $21432 | $17331 | $14413 |
| **1/31/2021** | $21346 | $17203 | $14267 |
| **2/28/2021** | $21930 | $17199 | $14661 |
| **3/31/2021** | $20912 | $17494 | $15303 |
| **4/30/2021** | $22286 | $18685 | $16120 |
| **5/31/2021** | $21539 | $18426 | $16232 |
| **6/30/2021** | $22919 | $19582 | $16611 |
| **7/31/2021** | $23503 | $20228 | $17006 |
| **8/31/2021** | $24357 | $20984 | $17523 |
| **9/30/2021** | $22884 | $19809 | $16708 |
| **10/31/2021** | $25567 | $21524 | $17878 |
| **11/30/2021** | $25415 | $21656 | $17754 |
| **12/31/2021** | $24139 | $22114 | $18550 |
| **1/31/2022** | $21060 | $20216 | $17590 |
| **2/28/2022** | $20484 | $19357 | $17064 |
| **3/31/2022** | $20986 | $20115 | $17697 |
| **4/30/2022** | $18088 | $17685 | $16154 |
| **5/31/2022** | $16976 | $17274 | $16184 |
| **6/30/2022** | $15840 | $15906 | $14848 |
| **7/31/2022** | $17577 | $17815 | $16217 |
| **8/31/2022** | $16976 | $16985 | $15555 |
| **9/30/2022** | $15527 | $15334 | $14123 |
| **10/31/2022** | $16079 | $16230 | $15266 |
| **11/30/2022** | $16186 | $16970 | $16119 |
| **12/31/2022** | $14679 | $15671 | $15191 |
| **1/31/2023** | $15742 | $16977 | $16145 |
| **2/28/2023** | $15264 | $16775 | $15751 |
| **3/31/2023** | $16343 | $17922 | $16329 |
| **4/30/2023** | $15989 | $18099 | $16584 |
| **5/31/2023** | $16968 | $18924 | $16656 |
| **6/30/2023** | $18121 | $20218 | $17757 |
| **7/31/2023** | $18779 | $20899 | $18327 |
| **8/31/2023** | $18541 | $20711 | $18036 |
| **9/30/2023** | $17166 | $19585 | $17176 |
| **10/31/2023** | $16647 | $19306 | $16815 |
| **11/30/2023** | $19018 | $21410 | $18350 |
| **12/31/2023** | $19595 | $22359 | $19184 |
| **1/31/2024** | $20780 | $22916 | $19506 |
| **2/29/2024** | $22657 | $24480 | $20548 |
| **3/31/2024** | $22970 | $24911 | $21209 |
| **4/30/2024** | $21546 | $23854 | $20343 |
| **5/31/2024** | $22731 | $25282 | $21351 |
| **6/30/2024** | $24444 | $26987 | $22117 |
| **7/31/2024** | $23019 | $26528 | $22387 |
| **8/31/2024** | $23950 | $27080 | $22930 |
| **9/30/2024** | $24971 | $27848 | $23419 |
| **10/31/2024** | $25852 | $27755 | $23207 |
| **11/30/2024** | $29499 | $29556 | $24569 |
| **12/31/2024** | $29417 | $29816 | $23983 |
| **1/31/2025** | $30841 | $30406 | $24651 |
| **2/28/2025** | $28783 | $29314 | $24330 |
| **3/31/2025** | $25424 | $26835 | $22959 |
| **4/30/2025** | $26864 | $27292 | $22803 |
| **5/31/2025** | $29672 | $29734 | $24239 |
| **6/30/2025** | $31985 | $31660 | $25471 |
| **7/31/2025** | $32965 | $32856 | $26043 |
| **8/31/2025** | $33294 | $33223 | $26571 |
| **9/30/2025** | $34891 | $34984 | $27541 |
| **10/31/2025** | $35937 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class R3 at NAV | 39.01% | 15.01% | 20.87% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LFGQX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9122-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LFGSX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $126 | 1.05% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.37%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ic3d52182277ac370c2fdfc7e.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R4** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10653 | $10358 | $10321 |
| **3/31/2019** | $10687 | $10653 | $10522 |
| **4/30/2019** | $11047 | $11134 | $10948 |
| **5/31/2019** | $10533 | $10431 | $10252 |
| **6/30/2019** | $11160 | $11147 | $10974 |
| **7/31/2019** | $11560 | $11399 | $11132 |
| **8/31/2019** | $11233 | $11311 | $10956 |
| **9/30/2019** | $10233 | $11313 | $11161 |
| **10/31/2019** | $10593 | $11632 | $11403 |
| **11/30/2019** | $11240 | $12148 | $11816 |
| **12/31/2019** | $11573 | $12514 | $12173 |
| **1/31/2020** | $12073 | $12794 | $12168 |
| **2/29/2020** | $11687 | $11923 | $11167 |
| **3/31/2020** | $10733 | $10750 | $9787 |
| **4/30/2020** | $12367 | $12340 | $11042 |
| **5/31/2020** | $13893 | $13169 | $11568 |
| **6/30/2020** | $15240 | $13742 | $11798 |
| **7/31/2020** | $16727 | $14799 | $12463 |
| **8/31/2020** | $18640 | $16327 | $13359 |
| **9/30/2020** | $18473 | $15559 | $12852 |
| **10/31/2020** | $17940 | $15030 | $12510 |
| **11/30/2020** | $20187 | $16569 | $13879 |
| **12/31/2020** | $21532 | $17331 | $14413 |
| **1/31/2021** | $21454 | $17203 | $14267 |
| **2/28/2021** | $22045 | $17199 | $14661 |
| **3/31/2021** | $21027 | $17494 | $15303 |
| **4/30/2021** | $22415 | $18685 | $16120 |
| **5/31/2021** | $21667 | $18426 | $16232 |
| **6/30/2021** | $23055 | $19582 | $16611 |
| **7/31/2021** | $23653 | $20228 | $17006 |
| **8/31/2021** | $24514 | $20984 | $17523 |
| **9/30/2021** | $23041 | $19809 | $16708 |
| **10/31/2021** | $25745 | $21524 | $17878 |
| **11/30/2021** | $25593 | $21656 | $17754 |
| **12/31/2021** | $24319 | $22114 | $18550 |
| **1/31/2022** | $21219 | $20216 | $17590 |
| **2/28/2022** | $20644 | $19357 | $17064 |
| **3/31/2022** | $21153 | $20115 | $17697 |
| **4/30/2022** | $18243 | $17685 | $16154 |
| **5/31/2022** | $17117 | $17274 | $16184 |
| **6/30/2022** | $15974 | $15906 | $14848 |
| **7/31/2022** | $17733 | $17815 | $16217 |
| **8/31/2022** | $17133 | $16985 | $15555 |
| **9/30/2022** | $15670 | $15334 | $14123 |
| **10/31/2022** | $16237 | $16230 | $15266 |
| **11/30/2022** | $16344 | $16970 | $16119 |
| **12/31/2022** | $14823 | $15671 | $15191 |
| **1/31/2023** | $15900 | $16977 | $16145 |
| **2/28/2023** | $15415 | $16775 | $15751 |
| **3/31/2023** | $16508 | $17922 | $16329 |
| **4/30/2023** | $16155 | $18099 | $16584 |
| **5/31/2023** | $17150 | $18924 | $16656 |
| **6/30/2023** | $18325 | $20218 | $17757 |
| **7/31/2023** | $18991 | $20899 | $18327 |
| **8/31/2023** | $18753 | $20711 | $18036 |
| **9/30/2023** | $17372 | $19585 | $17176 |
| **10/31/2023** | $16845 | $19306 | $16815 |
| **11/30/2023** | $19246 | $21410 | $18350 |
| **12/31/2023** | $19830 | $22359 | $19184 |
| **1/31/2024** | $21047 | $22916 | $19506 |
| **2/29/2024** | $22946 | $24480 | $20548 |
| **3/31/2024** | $23266 | $24911 | $21209 |
| **4/30/2024** | $21828 | $23854 | $20343 |
| **5/31/2024** | $23028 | $25282 | $21351 |
| **6/30/2024** | $24779 | $26987 | $22117 |
| **7/31/2024** | $23340 | $26528 | $22387 |
| **8/31/2024** | $24286 | $27080 | $22930 |
| **9/30/2024** | $25322 | $27848 | $23419 |
| **10/31/2024** | $26226 | $27755 | $23207 |
| **11/30/2024** | $29926 | $29556 | $24569 |
| **12/31/2024** | $29852 | $29816 | $23983 |
| **1/31/2025** | $31307 | $30406 | $24651 |
| **2/28/2025** | $29219 | $29314 | $24330 |
| **3/31/2025** | $25815 | $26835 | $22959 |
| **4/30/2025** | $27287 | $27292 | $22803 |
| **5/31/2025** | $30148 | $29734 | $24239 |
| **6/30/2025** | $32499 | $31660 | $25471 |
| **7/31/2025** | $33510 | $32856 | $26043 |
| **8/31/2025** | $33847 | $33223 | $26571 |
| **9/30/2025** | $35475 | $34984 | $27541 |
| **10/31/2025** | $36552 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class R4 at NAV | 39.37% | 15.30% | 21.18% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LFGSX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9123-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LFGTX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $96 | 0.80% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.75%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i0b72e1a81b60651f75ac30a6.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R5** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10653 | $10358 | $10321 |
| **3/31/2019** | $10693 | $10653 | $10522 |
| **4/30/2019** | $11053 | $11134 | $10948 |
| **5/31/2019** | $10540 | $10431 | $10252 |
| **6/30/2019** | $11173 | $11147 | $10974 |
| **7/31/2019** | $11573 | $11399 | $11132 |
| **8/31/2019** | $11247 | $11311 | $10956 |
| **9/30/2019** | $10247 | $11313 | $11161 |
| **10/31/2019** | $10607 | $11632 | $11403 |
| **11/30/2019** | $11267 | $12148 | $11816 |
| **12/31/2019** | $11593 | $12514 | $12173 |
| **1/31/2020** | $12100 | $12794 | $12168 |
| **2/29/2020** | $11713 | $11923 | $11167 |
| **3/31/2020** | $10767 | $10750 | $9787 |
| **4/30/2020** | $12407 | $12340 | $11042 |
| **5/31/2020** | $13940 | $13169 | $11568 |
| **6/30/2020** | $15293 | $13742 | $11798 |
| **7/31/2020** | $16787 | $14799 | $12463 |
| **8/31/2020** | $18713 | $16327 | $13359 |
| **9/30/2020** | $18553 | $15559 | $12852 |
| **10/31/2020** | $18013 | $15030 | $12510 |
| **11/30/2020** | $20280 | $16569 | $13879 |
| **12/31/2020** | $21639 | $17331 | $14413 |
| **1/31/2021** | $21561 | $17203 | $14267 |
| **2/28/2021** | $22158 | $17199 | $14661 |
| **3/31/2021** | $21141 | $17494 | $15303 |
| **4/30/2021** | $22543 | $18685 | $16120 |
| **5/31/2021** | $21796 | $18426 | $16232 |
| **6/30/2021** | $23197 | $19582 | $16611 |
| **7/31/2021** | $23795 | $20228 | $17006 |
| **8/31/2021** | $24677 | $20984 | $17523 |
| **9/30/2021** | $23190 | $19809 | $16708 |
| **10/31/2021** | $25921 | $21524 | $17878 |
| **11/30/2021** | $25777 | $21656 | $17754 |
| **12/31/2021** | $24496 | $22114 | $18550 |
| **1/31/2022** | $21377 | $20216 | $17590 |
| **2/28/2022** | $20802 | $19357 | $17064 |
| **3/31/2022** | $21319 | $20115 | $17697 |
| **4/30/2022** | $18389 | $17685 | $16154 |
| **5/31/2022** | $17256 | $17274 | $16184 |
| **6/30/2022** | $16115 | $15906 | $14848 |
| **7/31/2022** | $17888 | $17815 | $16217 |
| **8/31/2022** | $17280 | $16985 | $15555 |
| **9/30/2022** | $15811 | $15334 | $14123 |
| **10/31/2022** | $16386 | $16230 | $15266 |
| **11/30/2022** | $16501 | $16970 | $16119 |
| **12/31/2022** | $14965 | $15671 | $15191 |
| **1/31/2023** | $16057 | $16977 | $16145 |
| **2/28/2023** | $15573 | $16775 | $15751 |
| **3/31/2023** | $16681 | $17922 | $16329 |
| **4/30/2023** | $16328 | $18099 | $16584 |
| **5/31/2023** | $17338 | $18924 | $16656 |
| **6/30/2023** | $18528 | $20218 | $17757 |
| **7/31/2023** | $19201 | $20899 | $18327 |
| **8/31/2023** | $18972 | $20711 | $18036 |
| **9/30/2023** | $17576 | $19585 | $17176 |
| **10/31/2023** | $17042 | $19306 | $16815 |
| **11/30/2023** | $19481 | $21410 | $18350 |
| **12/31/2023** | $20080 | $22359 | $19184 |
| **1/31/2024** | $21303 | $22916 | $19506 |
| **2/29/2024** | $23240 | $24480 | $20548 |
| **3/31/2024** | $23569 | $24911 | $21209 |
| **4/30/2024** | $22116 | $23854 | $20343 |
| **5/31/2024** | $23339 | $25282 | $21351 |
| **6/30/2024** | $25112 | $26987 | $22117 |
| **7/31/2024** | $23659 | $26528 | $22387 |
| **8/31/2024** | $24628 | $27080 | $22930 |
| **9/30/2024** | $25687 | $27848 | $23419 |
| **10/31/2024** | $26598 | $27755 | $23207 |
| **11/30/2024** | $30366 | $29556 | $24569 |
| **12/31/2024** | $30292 | $29816 | $23983 |
| **1/31/2025** | $31778 | $30406 | $24651 |
| **2/28/2025** | $29668 | $29314 | $24330 |
| **3/31/2025** | $26212 | $26835 | $22959 |
| **4/30/2025** | $27714 | $27292 | $22803 |
| **5/31/2025** | $30629 | $29734 | $24239 |
| **6/30/2025** | $33026 | $31660 | $25471 |
| **7/31/2025** | $34052 | $32856 | $26043 |
| **8/31/2025** | $34405 | $33223 | $26571 |
| **9/30/2025** | $36071 | $34984 | $27541 |
| **10/31/2025** | $37172 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class R5 at NAV | 39.75% | 15.59% | 21.48% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LFGTX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9124-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LFGVX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $82 | 0.68% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 39.89%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Palantir Technologies, Inc. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to Comfort Systems USA, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Security selection within the Communication Services sector also detracted from relative performance, led by an overweight allocation to Trade Desk, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ia3eae801ca0dd59333579669.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R6** | **Russell 1000 Growth Index** | **S&P 500 Index** |
| **1/31/2019** | $10000 | $10000 | $10000 |
| **2/28/2019** | $10660 | $10358 | $10321 |
| **3/31/2019** | $10693 | $10653 | $10522 |
| **4/30/2019** | $11053 | $11134 | $10948 |
| **5/31/2019** | $10547 | $10431 | $10252 |
| **6/30/2019** | $11180 | $11147 | $10974 |
| **7/31/2019** | $11580 | $11399 | $11132 |
| **8/31/2019** | $11253 | $11311 | $10956 |
| **9/30/2019** | $10253 | $11313 | $11161 |
| **10/31/2019** | $10613 | $11632 | $11403 |
| **11/30/2019** | $11273 | $12148 | $11816 |
| **12/31/2019** | $11607 | $12514 | $12173 |
| **1/31/2020** | $12107 | $12794 | $12168 |
| **2/29/2020** | $11727 | $11923 | $11167 |
| **3/31/2020** | $10773 | $10750 | $9787 |
| **4/30/2020** | $12420 | $12340 | $11042 |
| **5/31/2020** | $13953 | $13169 | $11568 |
| **6/30/2020** | $15307 | $13742 | $11798 |
| **7/31/2020** | $16807 | $14799 | $12463 |
| **8/31/2020** | $18733 | $16327 | $13359 |
| **9/30/2020** | $18573 | $15559 | $12852 |
| **10/31/2020** | $18040 | $15030 | $12510 |
| **11/30/2020** | $20307 | $16569 | $13879 |
| **12/31/2020** | $21673 | $17331 | $14413 |
| **1/31/2021** | $21595 | $17203 | $14267 |
| **2/28/2021** | $22192 | $17199 | $14661 |
| **3/31/2021** | $21175 | $17494 | $15303 |
| **4/30/2021** | $22576 | $18685 | $16120 |
| **5/31/2021** | $21829 | $18426 | $16232 |
| **6/30/2021** | $23238 | $19582 | $16611 |
| **7/31/2021** | $23835 | $20228 | $17006 |
| **8/31/2021** | $24717 | $20984 | $17523 |
| **9/30/2021** | $23238 | $19809 | $16708 |
| **10/31/2021** | $25969 | $21524 | $17878 |
| **11/30/2021** | $25825 | $21656 | $17754 |
| **12/31/2021** | $24544 | $22114 | $18550 |
| **1/31/2022** | $21418 | $20216 | $17590 |
| **2/28/2022** | $20843 | $19357 | $17064 |
| **3/31/2022** | $21360 | $20115 | $17697 |
| **4/30/2022** | $18431 | $17685 | $16154 |
| **5/31/2022** | $17298 | $17274 | $16184 |
| **6/30/2022** | $16150 | $15906 | $14848 |
| **7/31/2022** | $17930 | $17815 | $16217 |
| **8/31/2022** | $17323 | $16985 | $15555 |
| **9/30/2022** | $15854 | $15334 | $14123 |
| **10/31/2022** | $16429 | $16230 | $15266 |
| **11/30/2022** | $16543 | $16970 | $16119 |
| **12/31/2022** | $15009 | $15671 | $15191 |
| **1/31/2023** | $16109 | $16977 | $16145 |
| **2/28/2023** | $15624 | $16775 | $15751 |
| **3/31/2023** | $16732 | $17922 | $16329 |
| **4/30/2023** | $16379 | $18099 | $16584 |
| **5/31/2023** | $17389 | $18924 | $16656 |
| **6/30/2023** | $18587 | $20218 | $17757 |
| **7/31/2023** | $19268 | $20899 | $18327 |
| **8/31/2023** | $19038 | $20711 | $18036 |
| **9/30/2023** | $17635 | $19585 | $17176 |
| **10/31/2023** | $17110 | $19306 | $16815 |
| **11/30/2023** | $19555 | $21410 | $18350 |
| **12/31/2023** | $20154 | $22359 | $19184 |
| **1/31/2024** | $21393 | $22916 | $19506 |
| **2/29/2024** | $23338 | $24480 | $20548 |
| **3/31/2024** | $23666 | $24911 | $21209 |
| **4/30/2024** | $22222 | $23854 | $20343 |
| **5/31/2024** | $23445 | $25282 | $21351 |
| **6/30/2024** | $25234 | $26987 | $22117 |
| **7/31/2024** | $23773 | $26528 | $22387 |
| **8/31/2024** | $24750 | $27080 | $22930 |
| **9/30/2024** | $25816 | $27848 | $23419 |
| **10/31/2024** | $26744 | $27755 | $23207 |
| **11/30/2024** | $30527 | $29556 | $24569 |
| **12/31/2024** | $30461 | $29816 | $23983 |
| **1/31/2025** | $31955 | $30406 | $24651 |
| **2/28/2025** | $29837 | $29314 | $24330 |
| **3/31/2025** | $26366 | $26835 | $22959 |
| **4/30/2025** | $27884 | $27292 | $22803 |
| **5/31/2025** | $30806 | $29734 | $24239 |
| **6/30/2025** | $33226 | $31660 | $25471 |
| **7/31/2025** | $34260 | $32856 | $26043 |
| **8/31/2025** | $34622 | $33223 | $26571 |
| **9/30/2025** | $36304 | $34984 | $27541 |
| **10/31/2025** | $37412 | $36276 | $28185 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 1/31/19 |
| Class R6 at NAV | 39.89% | 15.71% | 21.59% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 21.04% |
| S&P 500 Index | 21.45% | 17.64% | 16.60% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $180018172 |
| # of Portfolio Holdings | 34 |
| Portfolio Turnover Rate | 84% |
| Total Advisory Fees Paid | $526567 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 15.17% |
| Consumer Discretionary | 13.49% |
| Financials | 3.22% |
| Health Care | 4.00% |
| Industrials | 10.32% |
| Information Technology | 49.12% |
| Repurchase Agreements | 4.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

Expenses: As of March 1, 2025, the expense limitation on total net annual operating expenses increased from 0.65% to 0.70% as part of the annual review of transfer agency expenses.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LFGVX

# Lord Abbett Focused Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9125-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LAFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $103 | 0.96% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.72%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i1473c68204ebabecea7ccfcb.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A with load** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $9422 | $10000 | $10000 |
| **8/31/2019** | $8800 | $9706 | $9842 |
| **9/30/2019** | $9353 | $10052 | $10026 |
| **10/31/2019** | $9265 | $10193 | $10243 |
| **11/30/2019** | $9712 | $10508 | $10615 |
| **12/31/2019** | $9901 | $10797 | $10935 |
| **1/31/2020** | $9434 | $10565 | $10931 |
| **2/29/2020** | $8455 | $9541 | $10031 |
| **3/31/2020** | $6321 | $7911 | $8792 |
| **4/30/2020** | $7319 | $8800 | $9919 |
| **5/31/2020** | $7811 | $9102 | $10392 |
| **6/30/2020** | $8152 | $9041 | $10598 |
| **7/31/2020** | $8278 | $9399 | $11196 |
| **8/31/2020** | $8607 | $9787 | $12001 |
| **9/30/2020** | $8323 | $9547 | $11545 |
| **10/31/2020** | $8177 | $9422 | $11238 |
| **11/30/2020** | $9773 | $10689 | $12468 |
| **12/31/2020** | $10357 | $11099 | $12947 |
| **1/31/2021** | $10344 | $10997 | $12816 |
| **2/28/2021** | $11030 | $11662 | $13170 |
| **3/31/2021** | $11856 | $12348 | $13746 |
| **4/30/2021** | $12313 | $12842 | $14480 |
| **5/31/2021** | $12636 | $13142 | $14581 |
| **6/30/2021** | $12448 | $12991 | $14922 |
| **7/31/2021** | $12381 | $13095 | $15276 |
| **8/31/2021** | $12717 | $13355 | $15741 |
| **9/30/2021** | $12401 | $12890 | $15008 |
| **10/31/2021** | $12797 | $13544 | $16060 |
| **11/30/2021** | $12442 | $13067 | $15949 |
| **12/31/2021** | $13234 | $13891 | $16663 |
| **1/31/2022** | $13045 | $13568 | $15801 |
| **2/28/2022** | $13096 | $13410 | $15328 |
| **3/31/2022** | $13027 | $13789 | $15897 |
| **4/30/2022** | $11969 | $13011 | $14511 |
| **5/31/2022** | $12597 | $13264 | $14538 |
| **6/30/2022** | $11272 | $12105 | $13338 |
| **7/31/2022** | $11814 | $12908 | $14567 |
| **8/31/2022** | $11496 | $12523 | $13973 |
| **9/30/2022** | $10480 | $11425 | $12686 |
| **10/31/2022** | $11685 | $12596 | $13713 |
| **11/30/2022** | $12478 | $13384 | $14480 |
| **12/31/2022** | $11864 | $12844 | $13646 |
| **1/31/2023** | $12552 | $13510 | $14503 |
| **2/28/2023** | $12233 | $13033 | $14149 |
| **3/31/2023** | $11754 | $12973 | $14669 |
| **4/30/2023** | $11926 | $13169 | $14898 |
| **5/31/2023** | $11386 | $12661 | $14962 |
| **6/30/2023** | $12208 | $13502 | $15951 |
| **7/31/2023** | $12883 | $13977 | $16463 |
| **8/31/2023** | $12515 | $13599 | $16201 |
| **9/30/2023** | $12036 | $13075 | $15429 |
| **10/31/2023** | $11754 | $12613 | $15104 |
| **11/30/2023** | $12871 | $13565 | $16484 |
| **12/31/2023** | $13533 | $14316 | $17233 |
| **1/31/2024** | $13693 | $14331 | $17522 |
| **2/29/2024** | $14564 | $14860 | $18458 |
| **3/31/2024** | $15324 | $15603 | $19052 |
| **4/30/2024** | $14662 | $14936 | $18274 |
| **5/31/2024** | $15153 | $15410 | $19180 |
| **6/30/2024** | $15153 | $15265 | $19868 |
| **7/31/2024** | $15791 | $16045 | $20110 |
| **8/31/2024** | $16171 | $16476 | $20598 |
| **9/30/2024** | $16281 | $16704 | $21037 |
| **10/31/2024** | $16380 | $16521 | $20847 |
| **11/30/2024** | $17289 | $17575 | $22070 |
| **12/31/2024** | $16376 | $16373 | $21544 |
| **1/31/2025** | $17326 | $17131 | $22144 |
| **2/28/2025** | $17101 | $17201 | $21855 |
| **3/31/2025** | $16338 | $16723 | $20624 |
| **4/30/2025** | $16100 | $16213 | $20484 |
| **5/31/2025** | $16976 | $16783 | $21773 |
| **6/30/2025** | $17589 | $17357 | $22881 |
| **7/31/2025** | $18089 | $17456 | $23394 |
| **8/31/2025** | $18615 | $18012 | $23868 |
| **9/30/2025** | $19015 | $18282 | $24740 |
| **10/31/2025** | $18790 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class A at NAV | 14.72% | 18.10% | 11.67% |
| Class A with sales charge | 8.15% | 16.71% | 10.61% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LAFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9016-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LCFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $183 | 1.71% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 13.86%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i93844c8c13998d79ca674e13.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C with load** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9327 | $9706 | $9842 |
| **9/30/2019** | $9907 | $10052 | $10026 |
| **10/31/2019** | $9813 | $10193 | $10243 |
| **11/30/2019** | $10279 | $10508 | $10615 |
| **12/31/2019** | $10473 | $10797 | $10935 |
| **1/31/2020** | $9972 | $10565 | $10931 |
| **2/29/2020** | $8929 | $9541 | $10031 |
| **3/31/2020** | $6677 | $7911 | $8792 |
| **4/30/2020** | $7719 | $8800 | $9919 |
| **5/31/2020** | $8241 | $9102 | $10392 |
| **6/30/2020** | $8595 | $9041 | $10598 |
| **7/31/2020** | $8715 | $9399 | $11196 |
| **8/31/2020** | $9063 | $9787 | $12001 |
| **9/30/2020** | $8755 | $9547 | $11545 |
| **10/31/2020** | $8602 | $9422 | $11238 |
| **11/30/2020** | $10273 | $10689 | $12468 |
| **12/31/2020** | $10879 | $11099 | $12947 |
| **1/31/2021** | $10851 | $10997 | $12816 |
| **2/28/2021** | $11569 | $11662 | $13170 |
| **3/31/2021** | $12428 | $12348 | $13746 |
| **4/30/2021** | $12900 | $12842 | $14480 |
| **5/31/2021** | $13231 | $13142 | $14581 |
| **6/30/2021** | $13020 | $12991 | $14922 |
| **7/31/2021** | $12942 | $13095 | $15276 |
| **8/31/2021** | $13294 | $13355 | $15741 |
| **9/30/2021** | $12949 | $12890 | $15008 |
| **10/31/2021** | $13358 | $13544 | $16060 |
| **11/30/2021** | $12985 | $13067 | $15949 |
| **12/31/2021** | $13793 | $13891 | $16663 |
| **1/31/2022** | $13586 | $13568 | $15801 |
| **2/28/2022** | $13631 | $13410 | $15328 |
| **3/31/2022** | $13550 | $13789 | $15897 |
| **4/30/2022** | $12446 | $13011 | $14511 |
| **5/31/2022** | $13084 | $13264 | $14538 |
| **6/30/2022** | $11711 | $12105 | $13338 |
| **7/31/2022** | $12258 | $12908 | $14567 |
| **8/31/2022** | $11917 | $12523 | $13973 |
| **9/30/2022** | $10858 | $11425 | $12686 |
| **10/31/2022** | $12105 | $12596 | $13713 |
| **11/30/2022** | $12917 | $13384 | $14480 |
| **12/31/2022** | $12270 | $12844 | $13646 |
| **1/31/2023** | $12980 | $13510 | $14503 |
| **2/28/2023** | $12638 | $13033 | $14149 |
| **3/31/2023** | $12143 | $12973 | $14669 |
| **4/30/2023** | $12295 | $13169 | $14898 |
| **5/31/2023** | $11750 | $12661 | $14962 |
| **6/30/2023** | $12574 | $13502 | $15951 |
| **7/31/2023** | $13272 | $13977 | $16463 |
| **8/31/2023** | $12892 | $13599 | $16201 |
| **9/30/2023** | $12384 | $13075 | $15429 |
| **10/31/2023** | $12080 | $12613 | $15104 |
| **11/30/2023** | $13222 | $13565 | $16484 |
| **12/31/2023** | $13894 | $14316 | $17233 |
| **1/31/2024** | $14046 | $14331 | $17522 |
| **2/29/2024** | $14935 | $14860 | $18458 |
| **3/31/2024** | $15709 | $15603 | $19052 |
| **4/30/2024** | $15023 | $14936 | $18274 |
| **5/31/2024** | $15518 | $15410 | $19180 |
| **6/30/2024** | $15506 | $15265 | $19868 |
| **7/31/2024** | $16153 | $16045 | $20110 |
| **8/31/2024** | $16521 | $16476 | $20598 |
| **9/30/2024** | $16622 | $16704 | $21037 |
| **10/31/2024** | $16711 | $16521 | $20847 |
| **11/30/2024** | $17639 | $17575 | $22070 |
| **12/31/2024** | $16700 | $16373 | $21544 |
| **1/31/2025** | $17639 | $17131 | $22144 |
| **2/28/2025** | $17407 | $17201 | $21855 |
| **3/31/2025** | $16623 | $16723 | $20624 |
| **4/30/2025** | $16379 | $16213 | $20484 |
| **5/31/2025** | $17240 | $16783 | $21773 |
| **6/30/2025** | $17857 | $17357 | $22881 |
| **7/31/2025** | $18359 | $17456 | $23394 |
| **8/31/2025** | $18886 | $18012 | $23868 |
| **9/30/2025** | $19271 | $18282 | $24740 |
| **10/31/2025** | $19027 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class C at NAV | 13.86% | 17.21% | 10.84% |
| Class C with sales charge | 12.86% | 17.21% | 10.84% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LCFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9017-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LFFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $76 | 0.71% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 15.02%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ibc15ce770ca6f33831270faf.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9340 | $9706 | $9842 |
| **9/30/2019** | $9927 | $10052 | $10026 |
| **10/31/2019** | $9840 | $10193 | $10243 |
| **11/30/2019** | $10314 | $10508 | $10615 |
| **12/31/2019** | $10515 | $10797 | $10935 |
| **1/31/2020** | $10018 | $10565 | $10931 |
| **2/29/2020** | $8986 | $9541 | $10031 |
| **3/31/2020** | $6719 | $7911 | $8792 |
| **4/30/2020** | $7779 | $8800 | $9919 |
| **5/31/2020** | $8309 | $9102 | $10392 |
| **6/30/2020** | $8671 | $9041 | $10598 |
| **7/31/2020** | $8805 | $9399 | $11196 |
| **8/31/2020** | $9160 | $9787 | $12001 |
| **9/30/2020** | $8852 | $9547 | $11545 |
| **10/31/2020** | $8704 | $9422 | $11238 |
| **11/30/2020** | $10409 | $10689 | $12468 |
| **12/31/2020** | $11026 | $11099 | $12947 |
| **1/31/2021** | $11012 | $10997 | $12816 |
| **2/28/2021** | $11744 | $11662 | $13170 |
| **3/31/2021** | $12631 | $12348 | $13746 |
| **4/30/2021** | $13114 | $12842 | $14480 |
| **5/31/2021** | $13462 | $13142 | $14581 |
| **6/30/2021** | $13263 | $12991 | $14922 |
| **7/31/2021** | $13199 | $13095 | $15276 |
| **8/31/2021** | $13561 | $13355 | $15741 |
| **9/30/2021** | $13228 | $12890 | $15008 |
| **10/31/2021** | $13646 | $13544 | $16060 |
| **11/30/2021** | $13278 | $13067 | $15949 |
| **12/31/2021** | $14122 | $13891 | $16663 |
| **1/31/2022** | $13922 | $13568 | $15801 |
| **2/28/2022** | $13977 | $13410 | $15328 |
| **3/31/2022** | $13904 | $13789 | $15897 |
| **4/30/2022** | $12780 | $13011 | $14511 |
| **5/31/2022** | $13451 | $13264 | $14538 |
| **6/30/2022** | $12045 | $12105 | $13338 |
| **7/31/2022** | $12625 | $12908 | $14567 |
| **8/31/2022** | $12281 | $12523 | $13973 |
| **9/30/2022** | $11201 | $11425 | $12686 |
| **10/31/2022** | $12489 | $12596 | $13713 |
| **11/30/2022** | $13350 | $13384 | $14480 |
| **12/31/2022** | $12693 | $12844 | $13646 |
| **1/31/2023** | $13427 | $13510 | $14503 |
| **2/28/2023** | $13093 | $13033 | $14149 |
| **3/31/2023** | $12578 | $12973 | $14669 |
| **4/30/2023** | $12758 | $13169 | $14898 |
| **5/31/2023** | $12191 | $12661 | $14962 |
| **6/30/2023** | $13067 | $13502 | $15951 |
| **7/31/2023** | $13801 | $13977 | $16463 |
| **8/31/2023** | $13414 | $13599 | $16201 |
| **9/30/2023** | $12899 | $13075 | $15429 |
| **10/31/2023** | $12590 | $12613 | $15104 |
| **11/30/2023** | $13788 | $13565 | $16484 |
| **12/31/2023** | $14509 | $14316 | $17233 |
| **1/31/2024** | $14676 | $14331 | $17522 |
| **2/29/2024** | $15616 | $14860 | $18458 |
| **3/31/2024** | $16440 | $15603 | $19052 |
| **4/30/2024** | $15732 | $14936 | $18274 |
| **5/31/2024** | $16259 | $15410 | $19180 |
| **6/30/2024** | $16272 | $15265 | $19868 |
| **7/31/2024** | $16955 | $16045 | $20110 |
| **8/31/2024** | $17367 | $16476 | $20598 |
| **9/30/2024** | $17495 | $16704 | $21037 |
| **10/31/2024** | $17598 | $16521 | $20847 |
| **11/30/2024** | $18574 | $17575 | $22070 |
| **12/31/2024** | $17602 | $16373 | $21544 |
| **1/31/2025** | $18614 | $17131 | $22144 |
| **2/28/2025** | $18390 | $17201 | $21855 |
| **3/31/2025** | $17576 | $16723 | $20624 |
| **4/30/2025** | $17326 | $16213 | $20484 |
| **5/31/2025** | $18259 | $16783 | $21773 |
| **6/30/2025** | $18929 | $17357 | $22881 |
| **7/31/2025** | $19467 | $17456 | $23394 |
| **8/31/2025** | $20045 | $18012 | $23868 |
| **9/30/2025** | $20479 | $18282 | $24740 |
| **10/31/2025** | $20242 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class F at NAV | 15.02% | 18.39% | 11.94% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LFFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9018-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LOFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $74 | 0.69% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 15.07%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i55aba7d8dfced8084a06324a.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F3** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9340 | $9706 | $9842 |
| **9/30/2019** | $9927 | $10052 | $10026 |
| **10/31/2019** | $9840 | $10193 | $10243 |
| **11/30/2019** | $10318 | $10508 | $10615 |
| **12/31/2019** | $10519 | $10797 | $10935 |
| **1/31/2020** | $10023 | $10565 | $10931 |
| **2/29/2020** | $8990 | $9541 | $10031 |
| **3/31/2020** | $6722 | $7911 | $8792 |
| **4/30/2020** | $7782 | $8800 | $9919 |
| **5/31/2020** | $8312 | $9102 | $10392 |
| **6/30/2020** | $8675 | $9041 | $10598 |
| **7/31/2020** | $8815 | $9399 | $11196 |
| **8/31/2020** | $9164 | $9787 | $12001 |
| **9/30/2020** | $8862 | $9547 | $11545 |
| **10/31/2020** | $8708 | $9422 | $11238 |
| **11/30/2020** | $10416 | $10689 | $12468 |
| **12/31/2020** | $11038 | $11099 | $12947 |
| **1/31/2021** | $11024 | $10997 | $12816 |
| **2/28/2021** | $11754 | $11662 | $13170 |
| **3/31/2021** | $12641 | $12348 | $13746 |
| **4/30/2021** | $13127 | $12842 | $14480 |
| **5/31/2021** | $13478 | $13142 | $14581 |
| **6/30/2021** | $13278 | $12991 | $14922 |
| **7/31/2021** | $13206 | $13095 | $15276 |
| **8/31/2021** | $13571 | $13355 | $15741 |
| **9/30/2021** | $13235 | $12890 | $15008 |
| **10/31/2021** | $13664 | $13544 | $16060 |
| **11/30/2021** | $13293 | $13067 | $15949 |
| **12/31/2021** | $14137 | $13891 | $16663 |
| **1/31/2022** | $13935 | $13568 | $15801 |
| **2/28/2022** | $13990 | $13410 | $15328 |
| **3/31/2022** | $13926 | $13789 | $15897 |
| **4/30/2022** | $12798 | $13011 | $14511 |
| **5/31/2022** | $13467 | $13264 | $14538 |
| **6/30/2022** | $12056 | $12105 | $13338 |
| **7/31/2022** | $12633 | $12908 | $14567 |
| **8/31/2022** | $12294 | $12523 | $13973 |
| **9/30/2022** | $11212 | $11425 | $12686 |
| **10/31/2022** | $12505 | $12596 | $13713 |
| **11/30/2022** | $13353 | $13384 | $14480 |
| **12/31/2022** | $12699 | $12844 | $13646 |
| **1/31/2023** | $13445 | $13510 | $14503 |
| **2/28/2023** | $13105 | $13033 | $14149 |
| **3/31/2023** | $12594 | $12973 | $14669 |
| **4/30/2023** | $12777 | $13169 | $14898 |
| **5/31/2023** | $12201 | $12661 | $14962 |
| **6/30/2023** | $13078 | $13502 | $15951 |
| **7/31/2023** | $13811 | $13977 | $16463 |
| **8/31/2023** | $13432 | $13599 | $16201 |
| **9/30/2023** | $12908 | $13075 | $15429 |
| **10/31/2023** | $12607 | $12613 | $15104 |
| **11/30/2023** | $13811 | $13565 | $16484 |
| **12/31/2023** | $14518 | $14316 | $17233 |
| **1/31/2024** | $14689 | $14331 | $17522 |
| **2/29/2024** | $15644 | $14860 | $18458 |
| **3/31/2024** | $16456 | $15603 | $19052 |
| **4/30/2024** | $15762 | $14936 | $18274 |
| **5/31/2024** | $16286 | $15410 | $19180 |
| **6/30/2024** | $16286 | $15265 | $19868 |
| **7/31/2024** | $16980 | $16045 | $20110 |
| **8/31/2024** | $17385 | $16476 | $20598 |
| **9/30/2024** | $17516 | $16704 | $21037 |
| **10/31/2024** | $17621 | $16521 | $20847 |
| **11/30/2024** | $18605 | $17575 | $22070 |
| **12/31/2024** | $17629 | $16373 | $21544 |
| **1/31/2025** | $18645 | $17131 | $22144 |
| **2/28/2025** | $18418 | $17201 | $21855 |
| **3/31/2025** | $17602 | $16723 | $20624 |
| **4/30/2025** | $17348 | $16213 | $20484 |
| **5/31/2025** | $18284 | $16783 | $21773 |
| **6/30/2025** | $18967 | $17357 | $22881 |
| **7/31/2025** | $19502 | $17456 | $23394 |
| **8/31/2025** | $20077 | $18012 | $23868 |
| **9/30/2025** | $20505 | $18282 | $24740 |
| **10/31/2025** | $20277 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class F3 at NAV | 15.07% | 18.42% | 11.97% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LOFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9020-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LIFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $76 | 0.71% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 15.06%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i36d209d4bb93b2814c872901.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9340 | $9706 | $9842 |
| **9/30/2019** | $9927 | $10052 | $10026 |
| **10/31/2019** | $9840 | $10193 | $10243 |
| **11/30/2019** | $10312 | $10508 | $10615 |
| **12/31/2019** | $10519 | $10797 | $10935 |
| **1/31/2020** | $10023 | $10565 | $10931 |
| **2/29/2020** | $8983 | $9541 | $10031 |
| **3/31/2020** | $6722 | $7911 | $8792 |
| **4/30/2020** | $7782 | $8800 | $9919 |
| **5/31/2020** | $8312 | $9102 | $10392 |
| **6/30/2020** | $8675 | $9041 | $10598 |
| **7/31/2020** | $8809 | $9399 | $11196 |
| **8/31/2020** | $9164 | $9787 | $12001 |
| **9/30/2020** | $8862 | $9547 | $11545 |
| **10/31/2020** | $8715 | $9422 | $11238 |
| **11/30/2020** | $10416 | $10689 | $12468 |
| **12/31/2020** | $11038 | $11099 | $12947 |
| **1/31/2021** | $11024 | $10997 | $12816 |
| **2/28/2021** | $11754 | $11662 | $13170 |
| **3/31/2021** | $12641 | $12348 | $13746 |
| **4/30/2021** | $13127 | $12842 | $14480 |
| **5/31/2021** | $13478 | $13142 | $14581 |
| **6/30/2021** | $13277 | $12991 | $14922 |
| **7/31/2021** | $13213 | $13095 | $15276 |
| **8/31/2021** | $13571 | $13355 | $15741 |
| **9/30/2021** | $13242 | $12890 | $15008 |
| **10/31/2021** | $13664 | $13544 | $16060 |
| **11/30/2021** | $13293 | $13067 | $15949 |
| **12/31/2021** | $14137 | $13891 | $16663 |
| **1/31/2022** | $13935 | $13568 | $15801 |
| **2/28/2022** | $13990 | $13410 | $15328 |
| **3/31/2022** | $13917 | $13789 | $15897 |
| **4/30/2022** | $12789 | $13011 | $14511 |
| **5/31/2022** | $13458 | $13264 | $14538 |
| **6/30/2022** | $12056 | $12105 | $13338 |
| **7/31/2022** | $12633 | $12908 | $14567 |
| **8/31/2022** | $12294 | $12523 | $13973 |
| **9/30/2022** | $11212 | $11425 | $12686 |
| **10/31/2022** | $12496 | $12596 | $13713 |
| **11/30/2022** | $13352 | $13384 | $14480 |
| **12/31/2022** | $12695 | $12844 | $13646 |
| **1/31/2023** | $13441 | $13510 | $14503 |
| **2/28/2023** | $13100 | $13033 | $14149 |
| **3/31/2023** | $12594 | $12973 | $14669 |
| **4/30/2023** | $12771 | $13169 | $14898 |
| **5/31/2023** | $12203 | $12661 | $14962 |
| **6/30/2023** | $13074 | $13502 | $15951 |
| **7/31/2023** | $13807 | $13977 | $16463 |
| **8/31/2023** | $13428 | $13599 | $16201 |
| **9/30/2023** | $12910 | $13075 | $15429 |
| **10/31/2023** | $12607 | $12613 | $15104 |
| **11/30/2023** | $13807 | $13565 | $16484 |
| **12/31/2023** | $14514 | $14316 | $17233 |
| **1/31/2024** | $14691 | $14331 | $17522 |
| **2/29/2024** | $15639 | $14860 | $18458 |
| **3/31/2024** | $16447 | $15603 | $19052 |
| **4/30/2024** | $15752 | $14936 | $18274 |
| **5/31/2024** | $16283 | $15410 | $19180 |
| **6/30/2024** | $16283 | $15265 | $19868 |
| **7/31/2024** | $16978 | $16045 | $20110 |
| **8/31/2024** | $17382 | $16476 | $20598 |
| **9/30/2024** | $17508 | $16704 | $21037 |
| **10/31/2024** | $17609 | $16521 | $20847 |
| **11/30/2024** | $18598 | $17575 | $22070 |
| **12/31/2024** | $17617 | $16373 | $21544 |
| **1/31/2025** | $18636 | $17131 | $22144 |
| **2/28/2025** | $18404 | $17201 | $21855 |
| **3/31/2025** | $17592 | $16723 | $20624 |
| **4/30/2025** | $17334 | $16213 | $20484 |
| **5/31/2025** | $18275 | $16783 | $21773 |
| **6/30/2025** | $18946 | $17357 | $22881 |
| **7/31/2025** | $19487 | $17456 | $23394 |
| **8/31/2025** | $20068 | $18012 | $23868 |
| **9/30/2025** | $20493 | $18282 | $24740 |
| **10/31/2025** | $20261 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class I at NAV | 15.06% | 18.38% | 11.96% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LIFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9019-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LQFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $130 | 1.21% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.44%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iad08ed9ceff67c7543533b15.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R3** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9333 | $9706 | $9842 |
| **9/30/2019** | $9920 | $10052 | $10026 |
| **10/31/2019** | $9827 | $10193 | $10243 |
| **11/30/2019** | $10297 | $10508 | $10615 |
| **12/31/2019** | $10491 | $10797 | $10935 |
| **1/31/2020** | $9995 | $10565 | $10931 |
| **2/29/2020** | $8958 | $9541 | $10031 |
| **3/31/2020** | $6695 | $7911 | $8792 |
| **4/30/2020** | $7746 | $8800 | $9919 |
| **5/31/2020** | $8275 | $9102 | $10392 |
| **6/30/2020** | $8630 | $9041 | $10598 |
| **7/31/2020** | $8763 | $9399 | $11196 |
| **8/31/2020** | $9105 | $9787 | $12001 |
| **9/30/2020** | $8804 | $9547 | $11545 |
| **10/31/2020** | $8650 | $9422 | $11238 |
| **11/30/2020** | $10337 | $10689 | $12468 |
| **12/31/2020** | $10949 | $11099 | $12947 |
| **1/31/2021** | $10935 | $10997 | $12816 |
| **2/28/2021** | $11653 | $11662 | $13170 |
| **3/31/2021** | $12527 | $12348 | $13746 |
| **4/30/2021** | $13003 | $12842 | $14480 |
| **5/31/2021** | $13345 | $13142 | $14581 |
| **6/30/2021** | $13139 | $12991 | $14922 |
| **7/31/2021** | $13067 | $13095 | $15276 |
| **8/31/2021** | $13423 | $13355 | $15741 |
| **9/30/2021** | $13089 | $12890 | $15008 |
| **10/31/2021** | $13501 | $13544 | $16060 |
| **11/30/2021** | $13127 | $13067 | $15949 |
| **12/31/2021** | $13953 | $13891 | $16663 |
| **1/31/2022** | $13753 | $13568 | $15801 |
| **2/28/2022** | $13798 | $13410 | $15328 |
| **3/31/2022** | $13735 | $13789 | $15897 |
| **4/30/2022** | $12610 | $13011 | $14511 |
| **5/31/2022** | $13272 | $13264 | $14538 |
| **6/30/2022** | $11875 | $12105 | $13338 |
| **7/31/2022** | $12447 | $12908 | $14567 |
| **8/31/2022** | $12102 | $12523 | $13973 |
| **9/30/2022** | $11031 | $11425 | $12686 |
| **10/31/2022** | $12302 | $12596 | $13713 |
| **11/30/2022** | $13139 | $13384 | $14480 |
| **12/31/2022** | $12480 | $12844 | $13646 |
| **1/31/2023** | $13203 | $13510 | $14503 |
| **2/28/2023** | $12867 | $13033 | $14149 |
| **3/31/2023** | $12364 | $12973 | $14669 |
| **4/30/2023** | $12531 | $13169 | $14898 |
| **5/31/2023** | $11976 | $12661 | $14962 |
| **6/30/2023** | $12829 | $13502 | $15951 |
| **7/31/2023** | $13539 | $13977 | $16463 |
| **8/31/2023** | $13152 | $13599 | $16201 |
| **9/30/2023** | $12648 | $13075 | $15429 |
| **10/31/2023** | $12351 | $12613 | $15104 |
| **11/30/2023** | $13513 | $13565 | $16484 |
| **12/31/2023** | $14198 | $14316 | $17233 |
| **1/31/2024** | $14366 | $14331 | $17522 |
| **2/29/2024** | $15283 | $14860 | $18458 |
| **3/31/2024** | $16071 | $15603 | $19052 |
| **4/30/2024** | $15387 | $14936 | $18274 |
| **5/31/2024** | $15890 | $15410 | $19180 |
| **6/30/2024** | $15890 | $15265 | $19868 |
| **7/31/2024** | $16562 | $16045 | $20110 |
| **8/31/2024** | $16950 | $16476 | $20598 |
| **9/30/2024** | $17066 | $16704 | $21037 |
| **10/31/2024** | $17156 | $16521 | $20847 |
| **11/30/2024** | $18110 | $17575 | $22070 |
| **12/31/2024** | $17151 | $16373 | $21544 |
| **1/31/2025** | $18136 | $17131 | $22144 |
| **2/28/2025** | $17900 | $17201 | $21855 |
| **3/31/2025** | $17099 | $16723 | $20624 |
| **4/30/2025** | $16849 | $16213 | $20484 |
| **5/31/2025** | $17755 | $16783 | $21773 |
| **6/30/2025** | $18399 | $17357 | $22881 |
| **7/31/2025** | $18911 | $17456 | $23394 |
| **8/31/2025** | $19462 | $18012 | $23868 |
| **9/30/2025** | $19870 | $18282 | $24740 |
| **10/31/2025** | $19633 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R3 at NAV | 14.44% | 17.81% | 11.39% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LQFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9022-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LSFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $103 | 0.96% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.76%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i5a1fff1c110642718f7ade59.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R4** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9333 | $9706 | $9842 |
| **9/30/2019** | $9920 | $10052 | $10026 |
| **10/31/2019** | $9833 | $10193 | $10243 |
| **11/30/2019** | $10307 | $10508 | $10615 |
| **12/31/2019** | $10508 | $10797 | $10935 |
| **1/31/2020** | $10006 | $10565 | $10931 |
| **2/29/2020** | $8967 | $9541 | $10031 |
| **3/31/2020** | $6708 | $7911 | $8792 |
| **4/30/2020** | $7761 | $8800 | $9919 |
| **5/31/2020** | $8290 | $9102 | $10392 |
| **6/30/2020** | $8652 | $9041 | $10598 |
| **7/31/2020** | $8786 | $9399 | $11196 |
| **8/31/2020** | $9134 | $9787 | $12001 |
| **9/30/2020** | $8833 | $9547 | $11545 |
| **10/31/2020** | $8679 | $9422 | $11238 |
| **11/30/2020** | $10377 | $10689 | $12468 |
| **12/31/2020** | $10990 | $11099 | $12947 |
| **1/31/2021** | $10976 | $10997 | $12816 |
| **2/28/2021** | $11703 | $11662 | $13170 |
| **3/31/2021** | $12580 | $12348 | $13746 |
| **4/30/2021** | $13065 | $12842 | $14480 |
| **5/31/2021** | $13408 | $13142 | $14581 |
| **6/30/2021** | $13208 | $12991 | $14922 |
| **7/31/2021** | $13137 | $13095 | $15276 |
| **8/31/2021** | $13493 | $13355 | $15741 |
| **9/30/2021** | $13158 | $12890 | $15008 |
| **10/31/2021** | $13579 | $13544 | $16060 |
| **11/30/2021** | $13205 | $13067 | $15949 |
| **12/31/2021** | $14044 | $13891 | $16663 |
| **1/31/2022** | $13843 | $13568 | $15801 |
| **2/28/2022** | $13889 | $13410 | $15328 |
| **3/31/2022** | $13825 | $13789 | $15897 |
| **4/30/2022** | $12703 | $13011 | $14511 |
| **5/31/2022** | $13360 | $13264 | $14538 |
| **6/30/2022** | $11965 | $12105 | $13338 |
| **7/31/2022** | $12539 | $12908 | $14567 |
| **8/31/2022** | $12202 | $12523 | $13973 |
| **9/30/2022** | $11116 | $11425 | $12686 |
| **10/31/2022** | $12393 | $12596 | $13713 |
| **11/30/2022** | $13243 | $13384 | $14480 |
| **12/31/2022** | $12580 | $12844 | $13646 |
| **1/31/2023** | $13321 | $13510 | $14503 |
| **2/28/2023** | $12983 | $13033 | $14149 |
| **3/31/2023** | $12476 | $12973 | $14669 |
| **4/30/2023** | $12645 | $13169 | $14898 |
| **5/31/2023** | $12086 | $12661 | $14962 |
| **6/30/2023** | $12944 | $13502 | $15951 |
| **7/31/2023** | $13672 | $13977 | $16463 |
| **8/31/2023** | $13282 | $13599 | $16201 |
| **9/30/2023** | $12775 | $13075 | $15429 |
| **10/31/2023** | $12476 | $12613 | $15104 |
| **11/30/2023** | $13646 | $13565 | $16484 |
| **12/31/2023** | $14361 | $14316 | $17233 |
| **1/31/2024** | $14517 | $14331 | $17522 |
| **2/29/2024** | $15452 | $14860 | $18458 |
| **3/31/2024** | $16258 | $15603 | $19052 |
| **4/30/2024** | $15556 | $14936 | $18274 |
| **5/31/2024** | $16076 | $15410 | $19180 |
| **6/30/2024** | $16076 | $15265 | $19868 |
| **7/31/2024** | $16752 | $16045 | $20110 |
| **8/31/2024** | $17155 | $16476 | $20598 |
| **9/30/2024** | $17272 | $16704 | $21037 |
| **10/31/2024** | $17376 | $16521 | $20847 |
| **11/30/2024** | $18351 | $17575 | $22070 |
| **12/31/2024** | $17383 | $16373 | $21544 |
| **1/31/2025** | $18377 | $17131 | $22144 |
| **2/28/2025** | $18139 | $17201 | $21855 |
| **3/31/2025** | $17330 | $16723 | $20624 |
| **4/30/2025** | $17092 | $16213 | $20484 |
| **5/31/2025** | $18006 | $16783 | $21773 |
| **6/30/2025** | $18669 | $17357 | $22881 |
| **7/31/2025** | $19185 | $17456 | $23394 |
| **8/31/2025** | $19755 | $18012 | $23868 |
| **9/30/2025** | $20166 | $18282 | $24740 |
| **10/31/2025** | $19940 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R4 at NAV | 14.76% | 18.10% | 11.67% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LSFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9023-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LFLTX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $76 | 0.71% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 15.01%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i1e6f7158f4575520ddf71d77.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R5** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9340 | $9706 | $9842 |
| **9/30/2019** | $9927 | $10052 | $10026 |
| **10/31/2019** | $9840 | $10193 | $10243 |
| **11/30/2019** | $10311 | $10508 | $10615 |
| **12/31/2019** | $10519 | $10797 | $10935 |
| **1/31/2020** | $10023 | $10565 | $10931 |
| **2/29/2020** | $8983 | $9541 | $10031 |
| **3/31/2020** | $6722 | $7911 | $8792 |
| **4/30/2020** | $7775 | $8800 | $9919 |
| **5/31/2020** | $8305 | $9102 | $10392 |
| **6/30/2020** | $8674 | $9041 | $10598 |
| **7/31/2020** | $8808 | $9399 | $11196 |
| **8/31/2020** | $9157 | $9787 | $12001 |
| **9/30/2020** | $8855 | $9547 | $11545 |
| **10/31/2020** | $8708 | $9422 | $11238 |
| **11/30/2020** | $10409 | $10689 | $12468 |
| **12/31/2020** | $11031 | $11099 | $12947 |
| **1/31/2021** | $11017 | $10997 | $12816 |
| **2/28/2021** | $11747 | $11662 | $13170 |
| **3/31/2021** | $12634 | $12348 | $13746 |
| **4/30/2021** | $13120 | $12842 | $14480 |
| **5/31/2021** | $13471 | $13142 | $14581 |
| **6/30/2021** | $13270 | $12991 | $14922 |
| **7/31/2021** | $13206 | $13095 | $15276 |
| **8/31/2021** | $13564 | $13355 | $15741 |
| **9/30/2021** | $13235 | $12890 | $15008 |
| **10/31/2021** | $13657 | $13544 | $16060 |
| **11/30/2021** | $13286 | $13067 | $15949 |
| **12/31/2021** | $14130 | $13891 | $16663 |
| **1/31/2022** | $13928 | $13568 | $15801 |
| **2/28/2022** | $13983 | $13410 | $15328 |
| **3/31/2022** | $13919 | $13789 | $15897 |
| **4/30/2022** | $12791 | $13011 | $14511 |
| **5/31/2022** | $13460 | $13264 | $14538 |
| **6/30/2022** | $12057 | $12105 | $13338 |
| **7/31/2022** | $12635 | $12908 | $14567 |
| **8/31/2022** | $12296 | $12523 | $13973 |
| **9/30/2022** | $11205 | $11425 | $12686 |
| **10/31/2022** | $12497 | $12596 | $13713 |
| **11/30/2022** | $13357 | $13384 | $14480 |
| **12/31/2022** | $12689 | $12844 | $13646 |
| **1/31/2023** | $13436 | $13510 | $14503 |
| **2/28/2023** | $13095 | $13033 | $14149 |
| **3/31/2023** | $12585 | $12973 | $14669 |
| **4/30/2023** | $12768 | $13169 | $14898 |
| **5/31/2023** | $12205 | $12661 | $14962 |
| **6/30/2023** | $13082 | $13502 | $15951 |
| **7/31/2023** | $13802 | $13977 | $16463 |
| **8/31/2023** | $13423 | $13599 | $16201 |
| **9/30/2023** | $12912 | $13075 | $15429 |
| **10/31/2023** | $12611 | $12613 | $15104 |
| **11/30/2023** | $13802 | $13565 | $16484 |
| **12/31/2023** | $14510 | $14316 | $17233 |
| **1/31/2024** | $14693 | $14331 | $17522 |
| **2/29/2024** | $15636 | $14860 | $18458 |
| **3/31/2024** | $16448 | $15603 | $19052 |
| **4/30/2024** | $15754 | $14936 | $18274 |
| **5/31/2024** | $16278 | $15410 | $19180 |
| **6/30/2024** | $16278 | $15265 | $19868 |
| **7/31/2024** | $16972 | $16045 | $20110 |
| **8/31/2024** | $17378 | $16476 | $20598 |
| **9/30/2024** | $17508 | $16704 | $21037 |
| **10/31/2024** | $17613 | $16521 | $20847 |
| **11/30/2024** | $18597 | $17575 | $22070 |
| **12/31/2024** | $17621 | $16373 | $21544 |
| **1/31/2025** | $18638 | $17131 | $22144 |
| **2/28/2025** | $18397 | $17201 | $21855 |
| **3/31/2025** | $17581 | $16723 | $20624 |
| **4/30/2025** | $17340 | $16213 | $20484 |
| **5/31/2025** | $18276 | $16783 | $21773 |
| **6/30/2025** | $18945 | $17357 | $22881 |
| **7/31/2025** | $19481 | $17456 | $23394 |
| **8/31/2025** | $20056 | $18012 | $23868 |
| **9/30/2025** | $20484 | $18282 | $24740 |
| **10/31/2025** | $20257 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R5 at NAV | 15.01% | 18.39% | 11.95% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LFLTX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9024-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LVFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Focused Large Cap Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $73 | 0.68% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.98%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to RTX Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an underweight allocation to UnitedHealth Group Incorporated.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Aon Plc. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Best Buy Co., Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i61e3d962d0214ac7a8ad120a.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R6** | **Russell 1000 Value Index** | **S&P 500 Index** |
| **7/31/2019** | $10000 | $10000 | $10000 |
| **8/31/2019** | $9340 | $9706 | $9842 |
| **9/30/2019** | $9927 | $10052 | $10026 |
| **10/31/2019** | $9840 | $10193 | $10243 |
| **11/30/2019** | $10318 | $10508 | $10615 |
| **12/31/2019** | $10519 | $10797 | $10935 |
| **1/31/2020** | $10023 | $10565 | $10931 |
| **2/29/2020** | $8990 | $9541 | $10031 |
| **3/31/2020** | $6722 | $7911 | $8792 |
| **4/30/2020** | $7782 | $8800 | $9919 |
| **5/31/2020** | $8312 | $9102 | $10392 |
| **6/30/2020** | $8681 | $9041 | $10598 |
| **7/31/2020** | $8815 | $9399 | $11196 |
| **8/31/2020** | $9164 | $9787 | $12001 |
| **9/30/2020** | $8862 | $9547 | $11545 |
| **10/31/2020** | $8715 | $9422 | $11238 |
| **11/30/2020** | $10423 | $10689 | $12468 |
| **12/31/2020** | $11045 | $11099 | $12947 |
| **1/31/2021** | $11031 | $10997 | $12816 |
| **2/28/2021** | $11760 | $11662 | $13170 |
| **3/31/2021** | $12647 | $12348 | $13746 |
| **4/30/2021** | $13141 | $12842 | $14480 |
| **5/31/2021** | $13484 | $13142 | $14581 |
| **6/30/2021** | $13284 | $12991 | $14922 |
| **7/31/2021** | $13220 | $13095 | $15276 |
| **8/31/2021** | $13585 | $13355 | $15741 |
| **9/30/2021** | $13248 | $12890 | $15008 |
| **10/31/2021** | $13670 | $13544 | $16060 |
| **11/30/2021** | $13300 | $13067 | $15949 |
| **12/31/2021** | $14143 | $13891 | $16663 |
| **1/31/2022** | $13942 | $13568 | $15801 |
| **2/28/2022** | $13997 | $13410 | $15328 |
| **3/31/2022** | $13932 | $13789 | $15897 |
| **4/30/2022** | $12805 | $13011 | $14511 |
| **5/31/2022** | $13474 | $13264 | $14538 |
| **6/30/2022** | $12063 | $12105 | $13338 |
| **7/31/2022** | $12640 | $12908 | $14567 |
| **8/31/2022** | $12301 | $12523 | $13973 |
| **9/30/2022** | $11219 | $11425 | $12686 |
| **10/31/2022** | $12512 | $12596 | $13713 |
| **11/30/2022** | $13373 | $13384 | $14480 |
| **12/31/2022** | $12706 | $12844 | $13646 |
| **1/31/2023** | $13451 | $13510 | $14503 |
| **2/28/2023** | $13111 | $13033 | $14149 |
| **3/31/2023** | $12601 | $12973 | $14669 |
| **4/30/2023** | $12784 | $13169 | $14898 |
| **5/31/2023** | $12208 | $12661 | $14962 |
| **6/30/2023** | $13085 | $13502 | $15951 |
| **7/31/2023** | $13818 | $13977 | $16463 |
| **8/31/2023** | $13438 | $13599 | $16201 |
| **9/30/2023** | $12915 | $13075 | $15429 |
| **10/31/2023** | $12614 | $12613 | $15104 |
| **11/30/2023** | $13818 | $13565 | $16484 |
| **12/31/2023** | $14538 | $14316 | $17233 |
| **1/31/2024** | $14708 | $14331 | $17522 |
| **2/29/2024** | $15650 | $14860 | $18458 |
| **3/31/2024** | $16461 | $15603 | $19052 |
| **4/30/2024** | $15768 | $14936 | $18274 |
| **5/31/2024** | $16291 | $15410 | $19180 |
| **6/30/2024** | $16304 | $15265 | $19868 |
| **7/31/2024** | $16998 | $16045 | $20110 |
| **8/31/2024** | $17403 | $16476 | $20598 |
| **9/30/2024** | $17534 | $16704 | $21037 |
| **10/31/2024** | $17639 | $16521 | $20847 |
| **11/30/2024** | $18623 | $17575 | $22070 |
| **12/31/2024** | $17647 | $16373 | $21544 |
| **1/31/2025** | $18663 | $17131 | $22144 |
| **2/28/2025** | $18423 | $17201 | $21855 |
| **3/31/2025** | $17607 | $16723 | $20624 |
| **4/30/2025** | $17366 | $16213 | $20484 |
| **5/31/2025** | $18302 | $16783 | $21773 |
| **6/30/2025** | $18971 | $17357 | $22881 |
| **7/31/2025** | $19519 | $17456 | $23394 |
| **8/31/2025** | $20094 | $18012 | $23868 |
| **9/30/2025** | $20521 | $18282 | $24740 |
| **10/31/2025** | $20281 | $18362 | $25319 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R6 at NAV | 14.98% | 18.40% | 11.97% |
| Russell 1000 Value Index | 11.15% | 14.28% | 10.21% |
| S&P 500 Index | 21.45% | 17.64% | 16.02% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $83138145 |
| # of Portfolio Holdings | 31 |
| Portfolio Turnover Rate | 39% |
| Total Advisory Fees Paid | $26043 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.94% |
| Consumer Discretionary | 9.11% |
| Consumer Staples | 5.41% |
| Energy | 7.29% |
| Financials | 23.34% |
| Health Care | 13.05% |
| Industrials | 17.29% |
| Information Technology | 10.82% |
| Materials | 3.77% |
| Real Estate | 3.01% |
| Repurchase Agreements | 1.97% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LVFLX

# Lord Abbett Focused Large Cap Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9025-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LDFVX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $99 | 0.93% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 13.69%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9e9b677205adfff05797f1aa.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class A with load** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $9427 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9445 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9233 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $8716 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $8653 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9194 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $9461 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $9626 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $9626 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $9885 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $9979 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $9994 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $9838 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $10472 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $10687 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $10753 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11034 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $10852 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $10885 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $10926 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11092 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11191 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11108 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $11438 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $11554 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $11923 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12073 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $12632 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $11989 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $11774 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $11737 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $11765 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $11709 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $12212 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $12408 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $12445 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $11784 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12144 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11052 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $11818 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $12175 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $12257 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $12706 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $11716 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $12522 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $12736 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $12318 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $12767 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $12787 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $13250 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $13568 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $13182 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $11936 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $9918 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11040 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $11539 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $11562 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $11992 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $12548 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12060 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $11970 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $13476 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $13926 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $13857 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $14595 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $15380 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $16003 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $16314 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $16164 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $16360 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $16879 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $16395 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $17341 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $16940 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $17966 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $17434 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $17317 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $17525 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $16356 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $16667 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $15160 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $16122 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $15823 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $14550 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $16161 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $17048 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $16268 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $17035 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $16665 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $16296 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $16583 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $15981 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $17076 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $17828 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $17431 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $16679 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $16309 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $17612 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $18399 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $18565 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $19614 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $20690 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $19821 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $20469 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $20414 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $21366 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $21836 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $21960 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $22001 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $23379 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $22187 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $23409 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $23085 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $22187 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $21554 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $22422 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $23262 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $23703 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $24292 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $25102 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $25014 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | 13.69% | 15.88% | 10.25% |
| Class A with sales charge | 7.17% | 14.53% | 9.60% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LDFVX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-262-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# GILAX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $179 | 1.68% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 12.87%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9ec5fae38de1d59085b9fa49.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class C with load** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10021 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9783 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9226 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9152 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9729 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10003 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10177 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10167 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10423 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10524 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10533 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10359 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11026 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11237 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11304 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11602 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11391 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11429 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11458 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11621 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11717 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11631 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $11967 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12082 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12457 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12599 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13176 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12501 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12272 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12228 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12250 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12185 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $12697 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $12893 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $12926 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12228 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12599 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11453 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12241 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $12611 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $12682 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13136 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12098 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $12933 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13148 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $12694 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13148 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13171 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $13626 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $13945 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $13546 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12254 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10176 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11322 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $11828 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $11841 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12281 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $12840 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12334 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12241 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $13768 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14225 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14144 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $14883 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $15675 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $16293 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $16602 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $16441 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $16629 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $17140 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $16643 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $17596 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $17178 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $18201 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $17651 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $17529 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $17728 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $16537 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $16842 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $15300 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $16262 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $15956 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $14658 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $16277 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $17154 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $16366 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $17122 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $16736 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $16350 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $16639 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $16012 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $17106 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $17846 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $17444 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $16672 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $16301 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $17583 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $18373 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $18518 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $19549 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $20613 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $19727 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $20371 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $20291 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $21242 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $21693 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $21806 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $21822 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $23179 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $21971 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $23179 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $22851 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $21937 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $21298 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $22144 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $22955 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $23387 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $23956 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $24716 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $24629 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class C at NAV | 12.87% | 15.01% | 9.43% |
| Class C with sales charge | 11.87% | 15.01% | 9.43% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# GILAX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-243-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LAVFX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $83 | 0.78% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 13.86%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ib52f9ce4a1723439fd7a900d.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class F** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10019 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9793 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9247 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9179 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9759 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10045 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10221 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10221 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10490 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10599 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10616 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10448 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11128 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11350 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11429 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11731 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11527 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11571 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11615 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11793 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11899 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11819 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12165 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12289 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12686 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12847 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13438 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12756 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12536 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12496 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12526 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12466 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $13007 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13218 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13258 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12556 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12945 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11778 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12592 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $12978 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $13066 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13550 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12493 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13363 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13594 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $13132 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13616 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13649 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $14136 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14480 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $14075 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12739 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10581 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11782 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12322 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12346 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12800 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13401 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12886 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12800 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14400 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14888 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14813 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15600 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16438 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $17113 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $17450 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $17288 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17500 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $18050 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17550 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18563 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $18128 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $19229 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18664 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $18537 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $18763 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $17521 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $17860 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $16236 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $17267 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $16956 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15587 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $17309 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $18281 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $17446 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $18266 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $17864 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $17476 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $17789 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $17134 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $18311 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $19130 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $18698 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $17893 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $17506 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $18902 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $19759 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $19925 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $21069 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $22227 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $21279 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $21987 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $21926 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $22965 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $23476 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $23597 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $23657 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $25134 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $23847 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $25183 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $24829 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $23863 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $23187 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $24137 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $25022 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $25521 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $26148 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $27017 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $26937 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class F at NAV | 13.86% | 16.04% | 10.42% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LAVFX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1024-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LDFOX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $67 | 0.63% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.08%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i1dcd15d981f218a1b0583609.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class F3** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **4/4/2017** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **4/30/2017** | $10030 | $9987 | $10000 | $10128 | $10112 |
| **5/31/2017** | $10068 | $9977 | $9966 | $10231 | $10254 |
| **6/30/2017** | $10227 | $10140 | $10143 | $10324 | $10318 |
| **7/31/2017** | $10317 | $10275 | $10272 | $10518 | $10530 |
| **8/31/2017** | $10249 | $10155 | $10143 | $10539 | $10562 |
| **9/30/2017** | $10559 | $10456 | $10474 | $10796 | $10780 |
| **10/31/2017** | $10665 | $10532 | $10545 | $11031 | $11032 |
| **11/30/2017** | $11010 | $10854 | $10867 | $11366 | $11370 |
| **12/31/2017** | $11147 | $11013 | $11006 | $11480 | $11496 |
| **1/31/2018** | $11668 | $11438 | $11410 | $12085 | $12155 |
| **2/28/2018** | $11079 | $10892 | $10863 | $11640 | $11707 |
| **3/31/2018** | $10891 | $10701 | $10695 | $11406 | $11409 |
| **4/30/2018** | $10856 | $10736 | $10742 | $11449 | $11453 |
| **5/31/2018** | $10882 | $10800 | $10848 | $11772 | $11729 |
| **6/30/2018** | $10831 | $10826 | $10878 | $11849 | $11801 |
| **7/31/2018** | $11301 | $11255 | $11291 | $12243 | $12240 |
| **8/31/2018** | $11489 | $11421 | $11465 | $12673 | $12639 |
| **9/30/2018** | $11523 | $11444 | $11465 | $12694 | $12711 |
| **10/31/2018** | $10916 | $10851 | $10839 | $11759 | $11842 |
| **11/30/2018** | $11253 | $11175 | $11152 | $11994 | $12083 |
| **12/31/2018** | $10241 | $10102 | $10062 | $10878 | $10992 |
| **1/31/2019** | $10953 | $10888 | $10867 | $11812 | $11873 |
| **2/28/2019** | $11291 | $11236 | $11219 | $12227 | $12254 |
| **3/31/2019** | $11375 | $11308 | $11263 | $12406 | $12493 |
| **4/30/2019** | $11787 | $11709 | $11664 | $12901 | $12998 |
| **5/31/2019** | $10869 | $10956 | $10900 | $12066 | $12172 |
| **6/30/2019** | $11628 | $11743 | $11677 | $12914 | $13030 |
| **7/31/2019** | $11834 | $11840 | $11768 | $13106 | $13218 |
| **8/31/2019** | $11440 | $11492 | $11401 | $12839 | $13008 |
| **9/30/2019** | $11862 | $11902 | $11820 | $13064 | $13252 |
| **10/31/2019** | $11890 | $12068 | $11993 | $13345 | $13539 |
| **11/30/2019** | $12310 | $12441 | $12358 | $13852 | $14030 |
| **12/31/2019** | $12613 | $12783 | $12704 | $14252 | $14453 |
| **1/31/2020** | $12258 | $12508 | $12403 | $14237 | $14448 |
| **2/29/2020** | $11101 | $11297 | $11202 | $13071 | $13258 |
| **3/31/2020** | $9225 | $9366 | $9233 | $11274 | $11621 |
| **4/30/2020** | $10278 | $10419 | $10277 | $12767 | $13111 |
| **5/31/2020** | $10747 | $10776 | $10626 | $13450 | $13735 |
| **6/30/2020** | $10768 | $10705 | $10577 | $13757 | $14008 |
| **7/31/2020** | $11164 | $11128 | $10983 | $14538 | $14798 |
| **8/31/2020** | $11695 | $11588 | $11445 | $15591 | $15862 |
| **9/30/2020** | $11237 | $11304 | $11150 | $15024 | $15259 |
| **10/31/2020** | $11164 | $11155 | $11034 | $14699 | $14853 |
| **11/30/2020** | $12569 | $12656 | $12556 | $16488 | $16479 |
| **12/31/2020** | $12994 | $13141 | $13069 | $17229 | $17113 |
| **1/31/2021** | $12931 | $13020 | $13001 | $17153 | $16940 |
| **2/28/2021** | $13622 | $13807 | $13816 | $17689 | $17407 |
| **3/31/2021** | $14355 | $14620 | $14623 | $18323 | $18169 |
| **4/30/2021** | $14951 | $15204 | $15187 | $19268 | $19139 |
| **5/31/2021** | $15238 | $15559 | $15550 | $19356 | $19273 |
| **6/30/2021** | $15100 | $15381 | $15378 | $19833 | $19723 |
| **7/31/2021** | $15291 | $15504 | $15455 | $20168 | $20191 |
| **8/31/2021** | $15780 | $15812 | $15769 | $20743 | $20805 |
| **9/30/2021** | $15334 | $15261 | $15235 | $19813 | $19838 |
| **10/31/2021** | $16227 | $16036 | $15996 | $21152 | $21227 |
| **11/30/2021** | $15854 | $15471 | $15433 | $20830 | $21080 |
| **12/31/2021** | $16813 | $16447 | $16384 | $21651 | $22025 |
| **1/31/2022** | $16322 | $16064 | $15965 | $20377 | $20885 |
| **2/28/2022** | $16214 | $15878 | $15808 | $19864 | $20260 |
| **3/31/2022** | $16418 | $16326 | $16246 | $20508 | $21012 |
| **4/30/2022** | $15327 | $15405 | $15308 | $18667 | $19180 |
| **5/31/2022** | $15627 | $15704 | $15605 | $18642 | $19215 |
| **6/30/2022** | $14213 | $14332 | $14230 | $17083 | $17629 |
| **7/31/2022** | $15111 | $15283 | $15200 | $18686 | $19254 |
| **8/31/2022** | $14848 | $14827 | $14745 | $17988 | $18469 |
| **9/30/2022** | $13649 | $13527 | $13440 | $16320 | $16768 |
| **10/31/2022** | $15159 | $14914 | $14836 | $17659 | $18126 |
| **11/30/2022** | $16008 | $15846 | $15735 | $18580 | $19139 |
| **12/31/2022** | $15275 | $15207 | $15077 | $17492 | $18036 |
| **1/31/2023** | $16008 | $15995 | $15896 | $18697 | $19169 |
| **2/28/2023** | $15654 | $15431 | $15347 | $18260 | $18702 |
| **3/31/2023** | $15313 | $15360 | $15215 | $18748 | $19388 |
| **4/30/2023** | $15591 | $15592 | $15410 | $18948 | $19691 |
| **5/31/2023** | $15022 | $14990 | $14831 | $19022 | $19777 |
| **6/30/2023** | $16059 | $15986 | $15827 | $20321 | $21083 |
| **7/31/2023** | $16767 | $16548 | $16420 | $21049 | $21761 |
| **8/31/2023** | $16400 | $16102 | $15956 | $20643 | $21414 |
| **9/30/2023** | $15692 | $15480 | $15328 | $19659 | $20393 |
| **10/31/2023** | $15351 | $14934 | $14766 | $19138 | $19964 |
| **11/30/2023** | $16586 | $16061 | $15892 | $20923 | $21788 |
| **12/31/2023** | $17340 | $16950 | $16834 | $22033 | $22777 |
| **1/31/2024** | $17493 | $16968 | $16805 | $22277 | $23160 |
| **2/29/2024** | $18491 | $17594 | $17421 | $23483 | $24397 |
| **3/31/2024** | $19501 | $18474 | $18285 | $24240 | $25182 |
| **4/30/2024** | $18683 | $17684 | $17483 | $23174 | $24153 |
| **5/31/2024** | $19309 | $18245 | $18051 | $24269 | $25351 |
| **6/30/2024** | $19258 | $18073 | $17874 | $25020 | $26260 |
| **7/31/2024** | $20166 | $18997 | $18850 | $25485 | $26580 |
| **8/31/2024** | $20626 | $19507 | $19311 | $26040 | $27225 |
| **9/30/2024** | $20742 | $19778 | $19566 | $26578 | $27806 |
| **10/31/2024** | $20780 | $19560 | $19346 | $26383 | $27554 |
| **11/30/2024** | $22094 | $20809 | $20613 | $28138 | $29172 |
| **12/31/2024** | $20961 | $19386 | $19187 | $27278 | $28476 |
| **1/31/2025** | $22135 | $20283 | $20051 | $28139 | $29269 |
| **2/28/2025** | $21834 | $20366 | $20091 | $27600 | $28887 |
| **3/31/2025** | $20988 | $19800 | $19503 | $25990 | $27260 |
| **4/30/2025** | $20401 | $19197 | $18900 | $25816 | $27075 |
| **5/31/2025** | $21220 | $19871 | $19569 | $27452 | $28779 |
| **6/30/2025** | $22012 | $20550 | $20252 | $28847 | $30243 |
| **7/31/2025** | $22449 | $20668 | $20378 | $29482 | $30921 |
| **8/31/2025** | $23009 | $21326 | $21073 | $30164 | $31548 |
| **9/30/2025** | $23773 | $21645 | $21392 | $31205 | $32700 |
| **10/31/2025** | $23705 | $21741 | $21485 | $31874 | $33465 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | 14.08% | 16.25% | 10.59% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.48% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.33% |
| Russell 3000 Index | 20.81% | 16.74% | 14.47% |
| S&P 500 Index | 21.45% | 17.64% | 15.13% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LDFOX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8970-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LAVYX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $73 | 0.68% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.03%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ide5bcd2ccad7bd8c8b889b90.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class I** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10033 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9801 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9254 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9187 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9768 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10058 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10232 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10232 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10506 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10613 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10630 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10464 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11146 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11374 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11453 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11750 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11557 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11592 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11636 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11820 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11925 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11846 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12196 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12327 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12716 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12875 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13478 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12796 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12578 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12538 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12568 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12509 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $13053 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13261 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13310 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12598 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12995 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11823 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12648 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $13028 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $13125 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13603 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12539 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13419 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13647 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $13191 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13679 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13712 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $14196 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14547 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $14136 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12795 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10632 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11852 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12384 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12408 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12867 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13471 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12952 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12867 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14482 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14975 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14901 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15690 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16541 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $17218 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $17551 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $17403 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17613 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $18167 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17662 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18685 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $18249 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $19361 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18791 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $18666 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $18903 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $17652 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $17985 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $16359 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $17388 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $17082 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15706 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $17443 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $18412 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $17576 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $18412 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $18001 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $17605 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $17928 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $17283 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $18471 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $19292 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $18867 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $18045 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $17649 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $19065 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $19925 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $20103 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $21246 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $22418 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $21483 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $22195 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $22121 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $23174 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $23694 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $23827 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $23872 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $25382 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $24082 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $25414 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $25081 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $24098 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $23416 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $24368 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $25271 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $25779 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $26429 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $27301 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $27221 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | 14.03% | 16.17% | 10.53% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LAVYX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1403-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class P

# LAVPX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class P | $121 | 1.13% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 13.45%, reflecting performance at the net asset value (NAV) of Class P shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ibf29559f473098cd8041a52c.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class P** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10028 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9791 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9241 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9174 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9749 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10028 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10205 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10197 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10467 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10577 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10586 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10417 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11088 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11310 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11381 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11683 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11479 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11514 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11550 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11728 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11835 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11746 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12092 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12217 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12603 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12754 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13345 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12663 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12433 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12393 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12423 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12363 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $12894 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13094 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13135 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12433 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12806 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11655 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12455 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $12839 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $12916 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13387 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12346 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13190 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13420 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $12971 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13442 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13464 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $13935 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14276 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $13874 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12546 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10427 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11608 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12132 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12157 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12595 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13192 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12668 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12583 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14152 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14635 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14548 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15316 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16146 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $16802 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $17124 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $16963 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17161 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $17693 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17198 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18189 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $17761 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $18835 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18277 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $18137 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $18361 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $17133 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $17454 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $15877 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $16868 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $16561 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15222 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $16910 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $17842 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $17020 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $17827 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $17416 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $17034 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $17343 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $16697 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $17842 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $18620 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $18209 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $17416 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $17020 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $18378 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $19206 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $19369 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $20478 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $21587 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $20670 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $21350 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $21276 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $22281 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $22769 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $22888 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $22932 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $24360 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $23115 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $24392 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $24045 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $23099 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $22437 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $23351 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $24202 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $24675 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $25275 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $26110 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $26016 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class P at NAV | 13.45% | 15.64% | 10.03% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class P

# LAVPX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-592-P

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R2

# LAVQX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R2 | $138 | 1.29% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 13.24%, reflecting performance at the net asset value (NAV) of Class R2 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iade4ff2c44fcaa28ef7a3089.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R2** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10024 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9787 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9236 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9169 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9745 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10024 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10194 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10185 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10457 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10558 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10567 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10397 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11068 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11291 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11362 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11656 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11451 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11487 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11522 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11700 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11798 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11709 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12056 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12172 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12552 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12713 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13295 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12613 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12392 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12342 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12372 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12312 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $12833 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13034 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13074 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12372 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12748 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11600 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12398 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $12770 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $12847 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13317 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12267 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13120 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13339 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $12890 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13349 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13382 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $13846 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14185 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $13773 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12464 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10354 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11530 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12051 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12063 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12512 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13082 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12573 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12488 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14042 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14510 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14436 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15199 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16011 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $16651 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $16971 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $16811 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17008 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $17537 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17045 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18017 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $17584 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $18650 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18096 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $17972 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $18179 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $16961 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $17279 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $15715 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $16698 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $16393 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15064 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $16725 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $17638 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $16823 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $17624 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $17231 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $16838 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $17144 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $16503 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $17624 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $18410 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $17988 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $17202 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $16823 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $18159 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $18978 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $19125 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $20207 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $21320 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $20412 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $21071 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $20998 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $21978 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $22461 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $22578 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $22622 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $24028 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $22780 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $24043 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $23700 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $22765 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $22110 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $22998 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $23840 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $24308 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $24901 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $25712 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $25618 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R2 at NAV | 13.24% | 15.45% | 9.86% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R2

# LAVQX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1094-R2

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LAVRX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $126 | 1.18% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 13.45%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ic3e34036b56f87d2ee510723.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R3** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10021 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9785 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9237 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9169 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9743 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10021 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10198 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10190 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10460 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10561 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10578 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10409 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11082 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11303 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11374 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11667 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11463 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11507 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11543 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11711 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11817 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11729 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12075 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12199 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12581 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12731 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13321 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12641 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12411 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12371 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12401 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12341 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $12861 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13061 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13101 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12401 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12781 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11633 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12432 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $12814 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $12891 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13361 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12311 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13164 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13383 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $12934 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13405 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13427 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $13909 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14236 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $13836 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12513 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10401 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11578 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12100 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12112 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12561 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13144 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12634 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12537 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14103 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14583 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14509 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15274 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16087 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $16741 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $17061 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $16901 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17098 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $17641 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17135 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18121 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $17695 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $18764 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18209 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $18084 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $18292 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $17071 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $17390 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $15808 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $16807 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $16502 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15155 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $16835 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $17763 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $16946 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $17748 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $17354 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $16960 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $17267 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $16624 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $17763 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $18536 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $18128 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $17340 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $16946 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $18304 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $19126 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $19288 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $20375 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $21491 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $20566 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $21242 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $21183 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $22167 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $22652 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $22769 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $22813 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $24238 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $22986 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $24254 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $23925 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $22970 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $22328 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $23221 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $24082 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $24536 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $25146 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $25961 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $25882 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R3 at NAV | 13.45% | 15.60% | 9.98% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LAVRX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2068-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LAVSX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $99 | 0.93% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 13.76%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i51c583789919fe0ad3f21432.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R4** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10020 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9795 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9245 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9178 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9753 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10036 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10211 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10211 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10487 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10587 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10603 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10437 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11115 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11335 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11414 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11713 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11510 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11554 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11590 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11765 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11871 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11792 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12135 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12258 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12653 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12812 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13398 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12722 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12494 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12454 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12484 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12424 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $12961 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13160 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13209 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12504 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12892 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11727 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12544 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $12925 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $13001 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13480 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12424 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13295 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13524 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $13066 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13545 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13567 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $14049 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14388 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $13988 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12657 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10515 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11713 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12246 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12270 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12718 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13311 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12790 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12706 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14300 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14779 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14706 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15481 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16318 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $16982 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $17302 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $17142 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17351 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $17905 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17401 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18397 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $17964 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $19059 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18504 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $18366 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $18587 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $17354 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $17686 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $16079 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $17090 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $16786 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15427 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $17146 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $18082 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $17264 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $18082 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $17673 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $17278 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $17600 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $16957 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $18111 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $18914 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $18491 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $17687 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $17293 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $18683 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $19523 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $19685 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $20805 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $21954 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $21026 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $21718 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $21644 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $22661 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $23177 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $23295 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $23339 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $24804 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $23530 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $24836 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $24505 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $23530 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $22870 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $23798 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $24678 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $25150 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $25779 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $26629 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $26550 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R4 at NAV | 13.76% | 15.88% | 10.26% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LAVSX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8718-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LAVTX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $73 | 0.68% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.01%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i8817740cdfcff3024c121546.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R5** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10025 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9793 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9246 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9180 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9759 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10049 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10223 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10223 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10505 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10613 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10621 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10464 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11139 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11366 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11445 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11751 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11550 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11594 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11629 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11812 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11917 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11838 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12197 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12319 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12719 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12877 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13470 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12788 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12570 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12531 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12560 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12511 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $13045 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13253 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13302 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12600 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $12988 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11827 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12641 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $13031 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $13118 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13596 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12543 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13411 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13650 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $13194 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13672 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13704 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $14199 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14537 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $14139 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12799 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10637 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11845 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12388 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12412 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12871 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13475 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $12956 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12871 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14485 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $14978 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14904 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15692 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16542 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $17219 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $17552 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $17392 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17601 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $18168 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17663 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18685 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $18250 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $19361 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18791 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $18666 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $18902 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $17638 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $17986 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $16361 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $17388 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $17083 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15708 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $17444 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $18411 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $17576 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $18411 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $18001 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $17605 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $17927 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $17282 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $18470 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $19291 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $18866 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $18045 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $17649 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $19063 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $19923 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $20101 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $21257 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $22414 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $21480 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $22191 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $22132 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $23170 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $23688 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $23822 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $23881 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $25375 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $24076 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $25422 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $25074 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $24092 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $23426 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $24377 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $25280 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $25771 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $26420 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $27291 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $27228 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R5 at NAV | 14.01% | 16.17% | 10.54% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LAVTX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8750-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LAVVX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Fundamental Equity Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $67 | 0.63% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 14.00%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 11.15% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Value Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to EMCOR Group, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Alphabet Inc.

**Top detractors from performance:** Security selection within the Financials sector detracted from relative performance, led by an overweight allocation to Arthur J. Gallagher & Co. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Walmart Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i112b47082903919fe1a9e292.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class R6** | **Russell 1000 Value Index** | **Russell 3000 Value Index** | **Russell 3000 Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10026 | $10038 | $10058 | $10055 | $10030 |
| **12/31/2015** | $9802 | $9822 | $9816 | $9849 | $9872 |
| **1/31/2016** | $9255 | $9315 | $9297 | $9293 | $9382 |
| **2/29/2016** | $9189 | $9312 | $9300 | $9290 | $9369 |
| **3/31/2016** | $9769 | $9983 | $9977 | $9944 | $10005 |
| **4/30/2016** | $10059 | $10193 | $10187 | $10006 | $10043 |
| **5/31/2016** | $10241 | $10351 | $10348 | $10185 | $10224 |
| **6/30/2016** | $10241 | $10441 | $10433 | $10206 | $10250 |
| **7/31/2016** | $10514 | $10744 | $10755 | $10611 | $10628 |
| **8/31/2016** | $10622 | $10827 | $10852 | $10638 | $10643 |
| **9/30/2016** | $10639 | $10804 | $10837 | $10655 | $10645 |
| **10/31/2016** | $10473 | $10637 | $10655 | $10424 | $10451 |
| **11/30/2016** | $11158 | $11245 | $11324 | $10891 | $10838 |
| **12/31/2016** | $11385 | $11526 | $11622 | $11103 | $11052 |
| **1/31/2017** | $11464 | $11608 | $11692 | $11312 | $11262 |
| **2/28/2017** | $11770 | $12025 | $12091 | $11733 | $11709 |
| **3/31/2017** | $11577 | $11902 | $11970 | $11741 | $11723 |
| **4/30/2017** | $11621 | $11880 | $11953 | $11865 | $11843 |
| **5/31/2017** | $11656 | $11868 | $11913 | $11987 | $12010 |
| **6/30/2017** | $11840 | $12062 | $12124 | $12095 | $12085 |
| **7/31/2017** | $11945 | $12223 | $12279 | $12323 | $12333 |
| **8/31/2017** | $11866 | $12080 | $12124 | $12347 | $12371 |
| **9/30/2017** | $12224 | $12438 | $12520 | $12648 | $12626 |
| **10/31/2017** | $12355 | $12528 | $12605 | $12924 | $12921 |
| **11/30/2017** | $12746 | $12912 | $12989 | $13316 | $13317 |
| **12/31/2017** | $12914 | $13100 | $13156 | $13450 | $13465 |
| **1/31/2018** | $13517 | $13607 | $13638 | $14158 | $14236 |
| **2/28/2018** | $12835 | $12957 | $12985 | $13637 | $13711 |
| **3/31/2018** | $12607 | $12729 | $12785 | $13363 | $13363 |
| **4/30/2018** | $12578 | $12771 | $12840 | $13414 | $13414 |
| **5/31/2018** | $12607 | $12847 | $12967 | $13792 | $13737 |
| **6/30/2018** | $12548 | $12879 | $13003 | $13883 | $13822 |
| **7/31/2018** | $13092 | $13389 | $13496 | $14343 | $14336 |
| **8/31/2018** | $13299 | $13587 | $13705 | $14847 | $14803 |
| **9/30/2018** | $13349 | $13614 | $13704 | $14871 | $14887 |
| **10/31/2018** | $12647 | $12909 | $12956 | $13776 | $13870 |
| **11/30/2018** | $13037 | $13294 | $13330 | $14052 | $14153 |
| **12/31/2018** | $11865 | $12017 | $12027 | $12745 | $12875 |
| **1/31/2019** | $12690 | $12953 | $12989 | $13838 | $13906 |
| **2/28/2019** | $13080 | $13367 | $13411 | $14325 | $14353 |
| **3/31/2019** | $13167 | $13452 | $13463 | $14534 | $14632 |
| **4/30/2019** | $13655 | $13929 | $13942 | $15115 | $15224 |
| **5/31/2019** | $12592 | $13033 | $13029 | $14137 | $14257 |
| **6/30/2019** | $13470 | $13969 | $13957 | $15130 | $15262 |
| **7/31/2019** | $13709 | $14085 | $14067 | $15354 | $15481 |
| **8/31/2019** | $13254 | $13670 | $13628 | $15041 | $15236 |
| **9/30/2019** | $13731 | $14158 | $14128 | $15305 | $15521 |
| **10/31/2019** | $13763 | $14356 | $14336 | $15635 | $15857 |
| **11/30/2019** | $14260 | $14800 | $14772 | $16229 | $16432 |
| **12/31/2019** | $14610 | $15207 | $15185 | $16698 | $16928 |
| **1/31/2020** | $14200 | $14880 | $14826 | $16680 | $16922 |
| **2/29/2020** | $12861 | $13439 | $13390 | $15314 | $15529 |
| **3/31/2020** | $10689 | $11142 | $11036 | $13208 | $13611 |
| **4/30/2020** | $11896 | $12395 | $12284 | $14957 | $15356 |
| **5/31/2020** | $12439 | $12820 | $12701 | $15757 | $16087 |
| **6/30/2020** | $12463 | $12734 | $12643 | $16117 | $16407 |
| **7/31/2020** | $12933 | $13238 | $13129 | $17033 | $17332 |
| **8/31/2020** | $13536 | $13785 | $13681 | $18266 | $18578 |
| **9/30/2020** | $13018 | $13447 | $13328 | $17601 | $17872 |
| **10/31/2020** | $12933 | $13270 | $13189 | $17222 | $17397 |
| **11/30/2020** | $14548 | $15055 | $15009 | $19317 | $19301 |
| **12/31/2020** | $15052 | $15632 | $15622 | $20186 | $20043 |
| **1/31/2021** | $14978 | $15489 | $15541 | $20096 | $19841 |
| **2/28/2021** | $15766 | $16425 | $16515 | $20724 | $20388 |
| **3/31/2021** | $16628 | $17392 | $17479 | $21467 | $21281 |
| **4/30/2021** | $17304 | $18087 | $18154 | $22573 | $22416 |
| **5/31/2021** | $17649 | $18509 | $18587 | $22676 | $22573 |
| **6/30/2021** | $17489 | $18297 | $18382 | $23236 | $23100 |
| **7/31/2021** | $17698 | $18444 | $18474 | $23628 | $23649 |
| **8/31/2021** | $18264 | $18809 | $18849 | $24302 | $24368 |
| **9/30/2021** | $17760 | $18155 | $18211 | $23212 | $23234 |
| **10/31/2021** | $18794 | $19077 | $19120 | $24782 | $24862 |
| **11/30/2021** | $18349 | $18404 | $18448 | $24404 | $24690 |
| **12/31/2021** | $19472 | $19565 | $19585 | $25365 | $25797 |
| **1/31/2022** | $18903 | $19110 | $19084 | $23873 | $24462 |
| **2/28/2022** | $18779 | $18888 | $18896 | $23272 | $23729 |
| **3/31/2022** | $19014 | $19421 | $19419 | $24027 | $24610 |
| **4/30/2022** | $17752 | $18326 | $18298 | $21870 | $22464 |
| **5/31/2022** | $18099 | $18682 | $18653 | $21841 | $22505 |
| **6/30/2022** | $16462 | $17050 | $17010 | $20014 | $20648 |
| **7/31/2022** | $17503 | $18180 | $18169 | $21891 | $22552 |
| **8/31/2022** | $17184 | $17638 | $17626 | $21074 | $21632 |
| **9/30/2022** | $15811 | $16092 | $16065 | $19120 | $19640 |
| **10/31/2022** | $17558 | $17742 | $17735 | $20688 | $21230 |
| **11/30/2022** | $18541 | $18850 | $18808 | $21768 | $22416 |
| **12/31/2022** | $17692 | $18091 | $18022 | $20493 | $21125 |
| **1/31/2023** | $18541 | $19028 | $19001 | $21905 | $22452 |
| **2/28/2023** | $18131 | $18357 | $18345 | $21393 | $21904 |
| **3/31/2023** | $17736 | $18273 | $18187 | $21965 | $22708 |
| **4/30/2023** | $18058 | $18548 | $18420 | $22199 | $23063 |
| **5/31/2023** | $17399 | $17832 | $17728 | $22285 | $23163 |
| **6/30/2023** | $18599 | $19017 | $18919 | $23807 | $24693 |
| **7/31/2023** | $19419 | $19686 | $19628 | $24661 | $25487 |
| **8/31/2023** | $18994 | $19154 | $19073 | $24185 | $25081 |
| **9/30/2023** | $18175 | $18415 | $18322 | $23033 | $23885 |
| **10/31/2023** | $17780 | $17765 | $17650 | $22422 | $23383 |
| **11/30/2023** | $19208 | $19106 | $18996 | $24513 | $25518 |
| **12/31/2023** | $20082 | $20164 | $20123 | $25813 | $26678 |
| **1/31/2024** | $20259 | $20185 | $20087 | $26099 | $27126 |
| **2/29/2024** | $21413 | $20930 | $20823 | $27512 | $28574 |
| **3/31/2024** | $22597 | $21976 | $21857 | $28399 | $29494 |
| **4/30/2024** | $21635 | $21037 | $20898 | $27150 | $28289 |
| **5/31/2024** | $22361 | $21704 | $21577 | $28432 | $29692 |
| **6/30/2024** | $22301 | $21500 | $21365 | $29313 | $30757 |
| **7/31/2024** | $23352 | $22599 | $22532 | $29857 | $31132 |
| **8/31/2024** | $23885 | $23205 | $23083 | $30507 | $31887 |
| **9/30/2024** | $24018 | $23527 | $23388 | $31138 | $32568 |
| **10/31/2024** | $24077 | $23269 | $23125 | $30910 | $32272 |
| **11/30/2024** | $25583 | $24754 | $24639 | $32966 | $34167 |
| **12/31/2024** | $24271 | $23061 | $22935 | $31958 | $33352 |
| **1/31/2025** | $25630 | $24129 | $23967 | $32967 | $34281 |
| **2/28/2025** | $25283 | $24227 | $24015 | $32336 | $33834 |
| **3/31/2025** | $24303 | $23554 | $23312 | $30449 | $31928 |
| **4/30/2025** | $23624 | $22836 | $22592 | $30245 | $31711 |
| **5/31/2025** | $24587 | $23638 | $23392 | $32162 | $33707 |
| **6/30/2025** | $25488 | $24446 | $24208 | $33796 | $35421 |
| **7/31/2025** | $25994 | $24586 | $24359 | $34540 | $36216 |
| **8/31/2025** | $26642 | $25370 | $25189 | $35340 | $36950 |
| **9/30/2025** | $27527 | $25749 | $25571 | $36559 | $38299 |
| **10/31/2025** | $27448 | $25863 | $25682 | $37343 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R6 at NAV | 14.00% | 16.24% | 10.62% |
| Russell 1000 Value Index | 11.15% | 14.28% | 9.97% |
| Russell 3000 Value Index | 11.06% | 14.26% | 9.89% |
| Russell 3000 Index | 20.81% | 16.74% | 14.08% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $2079113663 |
| # of Portfolio Holdings | 55 |
| Portfolio Turnover Rate | 42% |
| Total Advisory Fees Paid | $10800536 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.68% |
| Consumer Discretionary | 8.48% |
| Consumer Staples | 4.40% |
| Energy | 6.45% |
| Financials | 24.93% |
| Health Care | 12.61% |
| Industrials | 15.37% |
| Information Technology | 11.34% |
| Materials | 3.71% |
| Real Estate | 3.22% |
| Utilities | 4.25% |
| Repurchase Agreements | 0.56% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LAVVX

# Lord Abbett Fundamental Equity Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8782-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LGLAX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $106 | 0.89% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 37.08%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if46f9f5c00f289f94536ed77.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with load** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $9424 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9438 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9363 | $9881 | $9880 | $9872 |
| **1/31/2016** | $8760 | $9329 | $9290 | $9382 |
| **2/29/2016** | $8539 | $9325 | $9282 | $9369 |
| **3/31/2016** | $8997 | $9954 | $9914 | $10005 |
| **4/30/2016** | $8901 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9109 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9055 | $10015 | $9993 | $10250 |
| **7/31/2016** | $9501 | $10488 | $10478 | $10628 |
| **8/31/2016** | $9463 | $10436 | $10438 | $10643 |
| **9/30/2016** | $9601 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9334 | $10228 | $10208 | $10451 |
| **11/30/2016** | $9447 | $10451 | $10480 | $10838 |
| **12/31/2016** | $9417 | $10580 | $10611 | $11052 |
| **1/31/2017** | $9767 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10067 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10171 | $11523 | $11527 | $11723 |
| **4/30/2017** | $10400 | $11786 | $11787 | $11843 |
| **5/31/2017** | $10870 | $12093 | $12063 | $12010 |
| **6/30/2017** | $10791 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11166 | $12381 | $12367 | $12333 |
| **8/31/2017** | $11366 | $12608 | $12575 | $12371 |
| **9/30/2017** | $11495 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12061 | $13267 | $13250 | $12921 |
| **11/30/2017** | $12350 | $13670 | $13651 | $13317 |
| **12/31/2017** | $12355 | $13777 | $13750 | $13465 |
| **1/31/2018** | $13309 | $14752 | $14690 | $14236 |
| **2/28/2018** | $13180 | $14366 | $14302 | $13711 |
| **3/31/2018** | $12923 | $13972 | $13954 | $13363 |
| **4/30/2018** | $12994 | $14020 | $14000 | $13414 |
| **5/31/2018** | $13797 | $14635 | $14635 | $13737 |
| **6/30/2018** | $13814 | $14776 | $14774 | $13822 |
| **7/31/2018** | $13876 | $15210 | $15193 | $14336 |
| **8/31/2018** | $15123 | $16041 | $16033 | $14803 |
| **9/30/2018** | $15336 | $16131 | $16086 | $14887 |
| **10/31/2018** | $13229 | $14688 | $14601 | $13870 |
| **11/30/2018** | $13330 | $14844 | $14762 | $14153 |
| **12/31/2018** | $12237 | $13568 | $13459 | $12875 |
| **1/31/2019** | $13506 | $14788 | $14694 | $13906 |
| **2/28/2019** | $14418 | $15317 | $15251 | $14353 |
| **3/31/2019** | $14781 | $15753 | $15636 | $14632 |
| **4/30/2019** | $15303 | $16464 | $16326 | $15224 |
| **5/31/2019** | $14706 | $15424 | $15282 | $14257 |
| **6/30/2019** | $15714 | $16484 | $16340 | $15262 |
| **7/31/2019** | $16194 | $16856 | $16695 | $15481 |
| **8/31/2019** | $16013 | $16727 | $16528 | $15236 |
| **9/30/2019** | $14775 | $16729 | $16521 | $15521 |
| **10/31/2019** | $15255 | $17200 | $16987 | $15857 |
| **11/30/2019** | $16154 | $17963 | $17756 | $16432 |
| **12/31/2019** | $16490 | $18505 | $18283 | $16928 |
| **1/31/2020** | $17144 | $18919 | $18652 | $16922 |
| **2/29/2020** | $16420 | $17631 | $17377 | $15529 |
| **3/31/2020** | $14880 | $15896 | $15568 | $13611 |
| **4/30/2020** | $17231 | $18248 | $17872 | $15356 |
| **5/31/2020** | $19199 | $19474 | $19100 | $16087 |
| **6/30/2020** | $20849 | $20322 | $19926 | $16407 |
| **7/31/2020** | $22656 | $21885 | $21410 | $17332 |
| **8/31/2020** | $24908 | $24143 | $23566 | $18578 |
| **9/30/2020** | $24781 | $23007 | $22488 | $17872 |
| **10/31/2020** | $24462 | $22226 | $21777 | $17397 |
| **11/30/2020** | $27396 | $24502 | $24101 | $19301 |
| **12/31/2020** | $29193 | $25629 | $25279 | $20043 |
| **1/31/2021** | $29219 | $25439 | $25183 | $19841 |
| **2/28/2021** | $29564 | $25433 | $25235 | $20388 |
| **3/31/2021** | $28061 | $25870 | $25580 | $21281 |
| **4/30/2021** | $29596 | $27630 | $27240 | $22416 |
| **5/31/2021** | $28349 | $27248 | $26836 | $22573 |
| **6/30/2021** | $29890 | $28958 | $28491 | $23100 |
| **7/31/2021** | $30965 | $29912 | $29296 | $23649 |
| **8/31/2021** | $32058 | $31030 | $30355 | $24368 |
| **9/30/2021** | $30332 | $29293 | $28689 | $23234 |
| **10/31/2021** | $33702 | $31830 | $31100 | $24862 |
| **11/30/2021** | $33428 | $32024 | $31185 | $24690 |
| **12/31/2021** | $31723 | $32701 | $31813 | $25797 |
| **1/31/2022** | $27760 | $29895 | $28993 | $24462 |
| **2/28/2022** | $26868 | $28625 | $27837 | $23729 |
| **3/31/2022** | $27571 | $29745 | $28870 | $24610 |
| **4/30/2022** | $23774 | $26153 | $25380 | $22464 |
| **5/31/2022** | $22819 | $25545 | $24796 | $22505 |
| **6/30/2022** | $21106 | $23521 | $22857 | $20648 |
| **7/31/2022** | $23332 | $26344 | $25590 | $22552 |
| **8/31/2022** | $22456 | $25117 | $24453 | $21632 |
| **9/30/2022** | $20372 | $22675 | $22087 | $19640 |
| **10/31/2022** | $20877 | $24001 | $23427 | $21230 |
| **11/30/2022** | $21193 | $25094 | $24451 | $22416 |
| **12/31/2022** | $19394 | $23173 | $22598 | $21125 |
| **1/31/2023** | $20704 | $25105 | $24504 | $22452 |
| **2/28/2023** | $20096 | $24807 | $24215 | $21904 |
| **3/31/2023** | $21319 | $26502 | $25728 | $22708 |
| **4/30/2023** | $20980 | $26764 | $25950 | $23063 |
| **5/31/2023** | $22109 | $27984 | $27066 | $23163 |
| **6/30/2023** | $23703 | $29897 | $28937 | $24693 |
| **7/31/2023** | $24587 | $30904 | $29932 | $25487 |
| **8/31/2023** | $24256 | $30627 | $29596 | $25081 |
| **9/30/2023** | $22582 | $28961 | $27969 | $23885 |
| **10/31/2023** | $21840 | $28549 | $27484 | $23383 |
| **11/30/2023** | $24832 | $31661 | $30458 | $25518 |
| **12/31/2023** | $25787 | $33063 | $31911 | $26678 |
| **1/31/2024** | $27271 | $33888 | $32617 | $27126 |
| **2/29/2024** | $29781 | $36200 | $34862 | $28574 |
| **3/31/2024** | $30349 | $36837 | $35493 | $29494 |
| **4/30/2024** | $28557 | $35275 | $33929 | $28289 |
| **5/31/2024** | $30049 | $37386 | $35950 | $29692 |
| **6/30/2024** | $32038 | $39907 | $38260 | $30757 |
| **7/31/2024** | $30554 | $39229 | $37775 | $31132 |
| **8/31/2024** | $31707 | $40046 | $38504 | $31887 |
| **9/30/2024** | $32891 | $41180 | $39568 | $32568 |
| **10/31/2024** | $33720 | $41044 | $39419 | $32272 |
| **11/30/2024** | $37777 | $43706 | $42080 | $34167 |
| **12/31/2024** | $37287 | $44092 | $42268 | $33352 |
| **1/31/2025** | $39040 | $44964 | $43126 | $34281 |
| **2/28/2025** | $36356 | $43349 | $41516 | $33834 |
| **3/31/2025** | $32196 | $39683 | $38020 | $31928 |
| **4/30/2025** | $33688 | $40359 | $38630 | $31711 |
| **5/31/2025** | $37224 | $43970 | $42045 | $33707 |
| **6/30/2025** | $40460 | $46818 | $44759 | $35421 |
| **7/31/2025** | $41921 | $48586 | $46409 | $36216 |
| **8/31/2025** | $42789 | $49129 | $47020 | $36950 |
| **9/30/2025** | $44865 | $51733 | $49489 | $38299 |
| **10/31/2025** | $46222 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | 37.08% | 13.57% | 17.24% |
| Class A with sales charge | 29.19% | 12.23% | 16.54% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LGLAX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-3335-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LGLCX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $194 | 1.64% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 36.01%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iba8d429c52f9fe21ccbd0456.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with load** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10006 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9920 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9276 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9039 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9514 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9409 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9628 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9559 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10025 | $10488 | $10478 | $10628 |
| **8/31/2016** | $9979 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10121 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9828 | $10228 | $10208 | $10451 |
| **11/30/2016** | $9943 | $10451 | $10480 | $10838 |
| **12/31/2016** | $9906 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10267 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10577 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10677 | $11523 | $11527 | $11723 |
| **4/30/2017** | $10914 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11398 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11311 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11699 | $12381 | $12367 | $12333 |
| **8/31/2017** | $11895 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12023 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12607 | $13267 | $13250 | $12921 |
| **11/30/2017** | $12901 | $13670 | $13651 | $13317 |
| **12/31/2017** | $12901 | $13777 | $13750 | $13465 |
| **1/31/2018** | $13886 | $14752 | $14690 | $14236 |
| **2/28/2018** | $13745 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13467 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13535 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14364 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14374 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14428 | $15210 | $15193 | $14336 |
| **8/31/2018** | $15711 | $16041 | $16033 | $14803 |
| **9/30/2018** | $15925 | $16131 | $16086 | $14887 |
| **10/31/2018** | $13725 | $14688 | $14601 | $13870 |
| **11/30/2018** | $13822 | $14844 | $14762 | $14153 |
| **12/31/2018** | $12683 | $13568 | $13459 | $12875 |
| **1/31/2019** | $13988 | $14788 | $14694 | $13906 |
| **2/28/2019** | $14926 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15288 | $15753 | $15636 | $14632 |
| **4/30/2019** | $15822 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15193 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16220 | $16484 | $16340 | $15262 |
| **7/31/2019** | $16712 | $16856 | $16695 | $15481 |
| **8/31/2019** | $16516 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15229 | $16729 | $16521 | $15521 |
| **10/31/2019** | $15709 | $17200 | $16987 | $15857 |
| **11/30/2019** | $16626 | $17963 | $17756 | $16432 |
| **12/31/2019** | $16963 | $18505 | $18283 | $16928 |
| **1/31/2020** | $17625 | $18919 | $18652 | $16922 |
| **2/29/2020** | $16873 | $17631 | $17377 | $15529 |
| **3/31/2020** | $15276 | $15896 | $15568 | $13611 |
| **4/30/2020** | $17677 | $18248 | $17872 | $15356 |
| **5/31/2020** | $19689 | $19474 | $19100 | $16087 |
| **6/30/2020** | $21363 | $20322 | $19926 | $16407 |
| **7/31/2020** | $23206 | $21885 | $21410 | $17332 |
| **8/31/2020** | $25491 | $24143 | $23566 | $18578 |
| **9/30/2020** | $25348 | $23007 | $22488 | $17872 |
| **10/31/2020** | $25004 | $22226 | $21777 | $17397 |
| **11/30/2020** | $27987 | $24502 | $24101 | $19301 |
| **12/31/2020** | $29805 | $25629 | $25279 | $20043 |
| **1/31/2021** | $29812 | $25439 | $25183 | $19841 |
| **2/28/2021** | $30145 | $25433 | $25235 | $20388 |
| **3/31/2021** | $28596 | $25870 | $25580 | $21281 |
| **4/30/2021** | $30138 | $27630 | $27240 | $22416 |
| **5/31/2021** | $28856 | $27248 | $26836 | $22573 |
| **6/30/2021** | $30399 | $28958 | $28491 | $23100 |
| **7/31/2021** | $31470 | $29912 | $29296 | $23649 |
| **8/31/2021** | $32571 | $31030 | $30355 | $24368 |
| **9/30/2021** | $30790 | $29293 | $28689 | $23234 |
| **10/31/2021** | $34193 | $31830 | $31100 | $24862 |
| **11/30/2021** | $33896 | $32024 | $31185 | $24690 |
| **12/31/2021** | $32151 | $32701 | $31813 | $25797 |
| **1/31/2022** | $28108 | $29895 | $28993 | $24462 |
| **2/28/2022** | $27189 | $28625 | $27837 | $23729 |
| **3/31/2022** | $27887 | $29745 | $28870 | $24610 |
| **4/30/2022** | $24028 | $26153 | $25380 | $22464 |
| **5/31/2022** | $23054 | $25545 | $24796 | $22505 |
| **6/30/2022** | $21308 | $23521 | $22857 | $20648 |
| **7/31/2022** | $23541 | $26344 | $25590 | $22552 |
| **8/31/2022** | $22641 | $25117 | $24453 | $21632 |
| **9/30/2022** | $20527 | $22675 | $22087 | $19640 |
| **10/31/2022** | $21023 | $24001 | $23427 | $21230 |
| **11/30/2022** | $21327 | $25094 | $24451 | $22416 |
| **12/31/2022** | $19507 | $23173 | $22598 | $21125 |
| **1/31/2023** | $20803 | $25105 | $24504 | $22452 |
| **2/28/2023** | $20187 | $24807 | $24215 | $21904 |
| **3/31/2023** | $21400 | $26502 | $25728 | $22708 |
| **4/30/2023** | $21042 | $26764 | $25950 | $23063 |
| **5/31/2023** | $22163 | $27984 | $27066 | $23163 |
| **6/30/2023** | $23743 | $29897 | $28937 | $24693 |
| **7/31/2023** | $24616 | $30904 | $29932 | $25487 |
| **8/31/2023** | $24267 | $30627 | $29596 | $25081 |
| **9/30/2023** | $22585 | $28961 | $27969 | $23885 |
| **10/31/2023** | $21832 | $28549 | $27484 | $23383 |
| **11/30/2023** | $24809 | $31661 | $30458 | $25518 |
| **12/31/2023** | $25737 | $33063 | $31911 | $26678 |
| **1/31/2024** | $27198 | $33888 | $32617 | $27126 |
| **2/29/2024** | $29688 | $36200 | $34862 | $28574 |
| **3/31/2024** | $30230 | $36837 | $35493 | $29494 |
| **4/30/2024** | $28439 | $35275 | $33929 | $28289 |
| **5/31/2024** | $29899 | $37386 | $35950 | $29692 |
| **6/30/2024** | $31857 | $39907 | $38260 | $30757 |
| **7/31/2024** | $30368 | $39229 | $37775 | $31132 |
| **8/31/2024** | $31489 | $40046 | $38504 | $31887 |
| **9/30/2024** | $32647 | $41180 | $39568 | $32568 |
| **10/31/2024** | $33455 | $41044 | $39419 | $32272 |
| **11/30/2024** | $37452 | $43706 | $42080 | $34167 |
| **12/31/2024** | $36938 | $44092 | $42268 | $33352 |
| **1/31/2025** | $38656 | $44964 | $43126 | $34281 |
| **2/28/2025** | $35973 | $43349 | $41516 | $33834 |
| **3/31/2025** | $31838 | $39683 | $38020 | $31928 |
| **4/30/2025** | $33299 | $40359 | $38630 | $31711 |
| **5/31/2025** | $36763 | $43970 | $42045 | $33707 |
| **6/30/2025** | $39943 | $46818 | $44759 | $35421 |
| **7/31/2025** | $41348 | $48586 | $46409 | $36216 |
| **8/31/2025** | $42185 | $49129 | $47020 | $36950 |
| **9/30/2025** | $44197 | $51733 | $49489 | $38299 |
| **10/31/2025** | $45502 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class C at NAV | 36.01% | 12.72% | 16.36% |
| Class C with sales charge | 35.01% | 12.72% | 16.36% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LGLCX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-3336-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LGLFX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $76 | 0.64% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 37.41%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i47980c48bb7178c2f90d7eb8.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10015 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9940 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9299 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9066 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9549 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9453 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9677 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9620 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10094 | $10488 | $10478 | $10628 |
| **8/31/2016** | $10054 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10203 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9918 | $10228 | $10208 | $10451 |
| **11/30/2016** | $10041 | $10451 | $10480 | $10838 |
| **12/31/2016** | $10010 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10383 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10704 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10814 | $11523 | $11527 | $11723 |
| **4/30/2017** | $11064 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11564 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11485 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11889 | $12381 | $12367 | $12333 |
| **8/31/2017** | $12100 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12241 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12847 | $13267 | $13250 | $12921 |
| **11/30/2017** | $13156 | $13670 | $13651 | $13317 |
| **12/31/2017** | $13165 | $13777 | $13750 | $13465 |
| **1/31/2018** | $14185 | $14752 | $14690 | $14236 |
| **2/28/2018** | $14049 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13778 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13857 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14717 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14741 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14811 | $15210 | $15193 | $14336 |
| **8/31/2018** | $16139 | $16041 | $16033 | $14803 |
| **9/30/2018** | $16373 | $16131 | $16086 | $14887 |
| **10/31/2018** | $14124 | $14688 | $14601 | $13870 |
| **11/30/2018** | $14235 | $14844 | $14762 | $14153 |
| **12/31/2018** | $13075 | $13568 | $13459 | $12875 |
| **1/31/2019** | $14432 | $14788 | $14694 | $13906 |
| **2/28/2019** | $15412 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15799 | $15753 | $15636 | $14632 |
| **4/30/2019** | $16360 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15726 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16802 | $16484 | $16340 | $15262 |
| **7/31/2019** | $17323 | $16856 | $16695 | $15481 |
| **8/31/2019** | $17139 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15810 | $16729 | $16521 | $15521 |
| **10/31/2019** | $16331 | $17200 | $16987 | $15857 |
| **11/30/2019** | $17292 | $17963 | $17756 | $16432 |
| **12/31/2019** | $17663 | $18505 | $18283 | $16928 |
| **1/31/2020** | $18362 | $18919 | $18652 | $16922 |
| **2/29/2020** | $17590 | $17631 | $17377 | $15529 |
| **3/31/2020** | $15944 | $15896 | $15568 | $13611 |
| **4/30/2020** | $18465 | $18248 | $17872 | $15356 |
| **5/31/2020** | $20580 | $19474 | $19100 | $16087 |
| **6/30/2020** | $22354 | $20322 | $19926 | $16407 |
| **7/31/2020** | $24298 | $21885 | $21410 | $17332 |
| **8/31/2020** | $26716 | $24143 | $23566 | $18578 |
| **9/30/2020** | $26589 | $23007 | $22488 | $17872 |
| **10/31/2020** | $26249 | $22226 | $21777 | $17397 |
| **11/30/2020** | $29407 | $24502 | $24101 | $19301 |
| **12/31/2020** | $31342 | $25629 | $25279 | $20043 |
| **1/31/2021** | $31375 | $25439 | $25183 | $19841 |
| **2/28/2021** | $31750 | $25433 | $25235 | $20388 |
| **3/31/2021** | $30150 | $25870 | $25580 | $21281 |
| **4/30/2021** | $31804 | $27630 | $27240 | $22416 |
| **5/31/2021** | $30465 | $27248 | $26836 | $22573 |
| **6/30/2021** | $32125 | $28958 | $28491 | $23100 |
| **7/31/2021** | $33290 | $29912 | $29296 | $23649 |
| **8/31/2021** | $34475 | $31030 | $30355 | $24368 |
| **9/30/2021** | $32621 | $29293 | $28689 | $23234 |
| **10/31/2021** | $36256 | $31830 | $31100 | $24862 |
| **11/30/2021** | $35970 | $32024 | $31185 | $24690 |
| **12/31/2021** | $34147 | $32701 | $31813 | $25797 |
| **1/31/2022** | $29884 | $29895 | $28993 | $24462 |
| **2/28/2022** | $28932 | $28625 | $27837 | $23729 |
| **3/31/2022** | $29696 | $29745 | $28870 | $24610 |
| **4/30/2022** | $25606 | $26153 | $25380 | $22464 |
| **5/31/2022** | $24588 | $25545 | $24796 | $22505 |
| **6/30/2022** | $22748 | $23521 | $22857 | $20648 |
| **7/31/2022** | $25146 | $26344 | $25590 | $22552 |
| **8/31/2022** | $24210 | $25117 | $24453 | $21632 |
| **9/30/2022** | $21968 | $22675 | $22087 | $19640 |
| **10/31/2022** | $22518 | $24001 | $23427 | $21230 |
| **11/30/2022** | $22863 | $25094 | $24451 | $22416 |
| **12/31/2022** | $20925 | $23173 | $22598 | $21125 |
| **1/31/2023** | $22346 | $25105 | $24504 | $22452 |
| **2/28/2023** | $21697 | $24807 | $24215 | $21904 |
| **3/31/2023** | $23019 | $26502 | $25728 | $22708 |
| **4/30/2023** | $22649 | $26764 | $25950 | $23063 |
| **5/31/2023** | $23873 | $27984 | $27066 | $23163 |
| **6/30/2023** | $25606 | $29897 | $28937 | $24693 |
| **7/31/2023** | $26567 | $30904 | $29932 | $25487 |
| **8/31/2023** | $26214 | $30627 | $29596 | $25081 |
| **9/30/2023** | $24407 | $28961 | $27969 | $23885 |
| **10/31/2023** | $23618 | $28549 | $27484 | $23383 |
| **11/30/2023** | $26862 | $31661 | $30458 | $25518 |
| **12/31/2023** | $27889 | $33063 | $31911 | $26678 |
| **1/31/2024** | $29498 | $33888 | $32617 | $27126 |
| **2/29/2024** | $32225 | $36200 | $34862 | $28574 |
| **3/31/2024** | $32849 | $36837 | $35493 | $29494 |
| **4/30/2024** | $30919 | $35275 | $33929 | $28289 |
| **5/31/2024** | $32545 | $37386 | $35950 | $29692 |
| **6/30/2024** | $34697 | $39907 | $38260 | $30757 |
| **7/31/2024** | $33104 | $39229 | $37775 | $31132 |
| **8/31/2024** | $34352 | $40046 | $38504 | $31887 |
| **9/30/2024** | $35641 | $41180 | $39568 | $32568 |
| **10/31/2024** | $36553 | $41044 | $39419 | $32272 |
| **11/30/2024** | $40963 | $43706 | $42080 | $34167 |
| **12/31/2024** | $40429 | $44092 | $42268 | $33352 |
| **1/31/2025** | $42351 | $44964 | $43126 | $34281 |
| **2/28/2025** | $39435 | $43349 | $41516 | $33834 |
| **3/31/2025** | $34935 | $39683 | $38020 | $31928 |
| **4/30/2025** | $36561 | $40359 | $38630 | $31711 |
| **5/31/2025** | $40404 | $43970 | $42045 | $33707 |
| **6/30/2025** | $43927 | $46818 | $44759 | $35421 |
| **7/31/2025** | $45521 | $48586 | $46409 | $36216 |
| **8/31/2025** | $46473 | $49129 | $47020 | $36950 |
| **9/30/2025** | $48740 | $51733 | $49489 | $38299 |
| **10/31/2025** | $50226 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class F at NAV | 37.41% | 13.86% | 17.51% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LGLFX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-3337-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LGLOX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $69 | 0.58% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 37.52%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i1b583a331b238f853b965c87.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F3** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **4/4/2017** | $10000 | $10000 | $10000 | $10000 |
| **4/30/2017** | $10226 | $10249 | $10255 | $10112 |
| **5/31/2017** | $10689 | $10516 | $10496 | $10254 |
| **6/30/2017** | $10613 | $10488 | $10496 | $10318 |
| **7/31/2017** | $10988 | $10767 | $10760 | $10530 |
| **8/31/2017** | $11185 | $10964 | $10941 | $10562 |
| **9/30/2017** | $11314 | $11107 | $11118 | $10780 |
| **10/31/2017** | $11874 | $11537 | $11529 | $11032 |
| **11/30/2017** | $12162 | $11888 | $11877 | $11370 |
| **12/31/2017** | $12171 | $11980 | $11964 | $11496 |
| **1/31/2018** | $13115 | $12829 | $12782 | $12155 |
| **2/28/2018** | $12990 | $12492 | $12444 | $11707 |
| **3/31/2018** | $12737 | $12150 | $12141 | $11409 |
| **4/30/2018** | $12814 | $12192 | $12181 | $11453 |
| **5/31/2018** | $13608 | $12726 | $12733 | $11729 |
| **6/30/2018** | $13630 | $12849 | $12854 | $11801 |
| **7/31/2018** | $13694 | $13226 | $13219 | $12240 |
| **8/31/2018** | $14925 | $13949 | $13950 | $12639 |
| **9/30/2018** | $15140 | $14027 | $13996 | $12711 |
| **10/31/2018** | $13063 | $12773 | $12704 | $11842 |
| **11/30/2018** | $13166 | $12909 | $12844 | $12083 |
| **12/31/2018** | $12093 | $11799 | $11710 | $10992 |
| **1/31/2019** | $13351 | $12859 | $12785 | $11873 |
| **2/28/2019** | $14254 | $13319 | $13269 | $12254 |
| **3/31/2019** | $14614 | $13699 | $13605 | $12493 |
| **4/30/2019** | $15138 | $14317 | $14205 | $12998 |
| **5/31/2019** | $14552 | $13413 | $13296 | $12172 |
| **6/30/2019** | $15548 | $14334 | $14217 | $13030 |
| **7/31/2019** | $16031 | $14658 | $14526 | $13218 |
| **8/31/2019** | $15857 | $14545 | $14381 | $13008 |
| **9/30/2019** | $14634 | $14547 | $14374 | $13252 |
| **10/31/2019** | $15112 | $14957 | $14780 | $13539 |
| **11/30/2019** | $16002 | $15621 | $15449 | $14030 |
| **12/31/2019** | $16347 | $16092 | $15908 | $14453 |
| **1/31/2020** | $16998 | $16452 | $16229 | $14448 |
| **2/29/2020** | $16286 | $15332 | $15120 | $13258 |
| **3/31/2020** | $14757 | $13823 | $13545 | $11621 |
| **4/30/2020** | $17093 | $15869 | $15550 | $13111 |
| **5/31/2020** | $19056 | $16934 | $16619 | $13735 |
| **6/30/2020** | $20697 | $17672 | $17337 | $14008 |
| **7/31/2020** | $22499 | $19031 | $18629 | $14798 |
| **8/31/2020** | $24735 | $20995 | $20505 | $15862 |
| **9/30/2020** | $24618 | $20007 | $19567 | $15259 |
| **10/31/2020** | $24307 | $19328 | $18948 | $14853 |
| **11/30/2020** | $27231 | $21307 | $20970 | $16479 |
| **12/31/2020** | $29025 | $22287 | $21995 | $17113 |
| **1/31/2021** | $29056 | $22122 | $21912 | $16940 |
| **2/28/2021** | $29405 | $22117 | $21957 | $17407 |
| **3/31/2021** | $27923 | $22497 | $22257 | $18169 |
| **4/30/2021** | $29454 | $24027 | $23701 | $19139 |
| **5/31/2021** | $28223 | $23695 | $23350 | $19273 |
| **6/30/2021** | $29760 | $25182 | $24790 | $19723 |
| **7/31/2021** | $30843 | $26011 | $25490 | $20191 |
| **8/31/2021** | $31939 | $26984 | $26412 | $20805 |
| **9/30/2021** | $30225 | $25473 | $24962 | $19838 |
| **10/31/2021** | $33598 | $27679 | $27060 | $21227 |
| **11/30/2021** | $33331 | $27848 | $27133 | $21080 |
| **12/31/2021** | $31646 | $28437 | $27680 | $22025 |
| **1/31/2022** | $27693 | $25996 | $25226 | $20885 |
| **2/28/2022** | $26810 | $24892 | $24221 | $20260 |
| **3/31/2022** | $27521 | $25866 | $25119 | $21012 |
| **4/30/2022** | $23740 | $22742 | $22083 | $19180 |
| **5/31/2022** | $22789 | $22214 | $21575 | $19215 |
| **6/30/2022** | $21090 | $20454 | $19888 | $17629 |
| **7/31/2022** | $23321 | $22909 | $22265 | $19254 |
| **8/31/2022** | $22445 | $21842 | $21277 | $18469 |
| **9/30/2022** | $20364 | $19719 | $19218 | $16768 |
| **10/31/2022** | $20880 | $20871 | $20383 | $18126 |
| **11/30/2022** | $21202 | $21822 | $21275 | $19139 |
| **12/31/2022** | $19413 | $20151 | $19662 | $18036 |
| **1/31/2023** | $20723 | $21831 | $21321 | $19169 |
| **2/28/2023** | $20124 | $21572 | $21069 | $18702 |
| **3/31/2023** | $21352 | $23046 | $22386 | $19388 |
| **4/30/2023** | $21015 | $23274 | $22579 | $19691 |
| **5/31/2023** | $22153 | $24334 | $23550 | $19777 |
| **6/30/2023** | $23755 | $25999 | $25178 | $21083 |
| **7/31/2023** | $24646 | $26874 | $26043 | $21761 |
| **8/31/2023** | $24317 | $26633 | $25751 | $21414 |
| **9/30/2023** | $22647 | $25185 | $24336 | $20393 |
| **10/31/2023** | $21914 | $24826 | $23914 | $19964 |
| **11/30/2023** | $24923 | $27532 | $26501 | $21788 |
| **12/31/2023** | $25881 | $28752 | $27765 | $22777 |
| **1/31/2024** | $27379 | $29469 | $28380 | $23160 |
| **2/29/2024** | $29902 | $31479 | $30333 | $24397 |
| **3/31/2024** | $30486 | $32033 | $30882 | $25182 |
| **4/30/2024** | $28696 | $30675 | $29521 | $24153 |
| **5/31/2024** | $30209 | $32511 | $31280 | $25351 |
| **6/30/2024** | $32208 | $34703 | $33289 | $26260 |
| **7/31/2024** | $30725 | $34113 | $32868 | $26580 |
| **8/31/2024** | $31893 | $34824 | $33502 | $27225 |
| **9/30/2024** | $33099 | $35810 | $34427 | $27806 |
| **10/31/2024** | $33937 | $35692 | $34298 | $27554 |
| **11/30/2024** | $38032 | $38007 | $36613 | $29172 |
| **12/31/2024** | $37546 | $38342 | $36777 | $28476 |
| **1/31/2025** | $39328 | $39101 | $37524 | $29269 |
| **2/28/2025** | $36625 | $37696 | $36122 | $28887 |
| **3/31/2025** | $32447 | $34508 | $33081 | $27260 |
| **4/30/2025** | $33960 | $35096 | $33611 | $27075 |
| **5/31/2025** | $37531 | $38236 | $36583 | $28779 |
| **6/30/2025** | $40810 | $40713 | $38944 | $30243 |
| **7/31/2025** | $42292 | $42250 | $40380 | $30921 |
| **8/31/2025** | $43183 | $42723 | $40911 | $31548 |
| **9/30/2025** | $45287 | $44987 | $43060 | $32700 |
| **10/31/2025** | $46672 | $46649 | $44642 | $33465 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | 37.52% | 13.94% | 19.68% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 19.67% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 19.06% |
| S&P 500 Index | 21.45% | 17.64% | 15.13% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LGLOX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8971-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LGLIX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $76 | 0.64% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 37.41%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i0c91e60e32d2a2dff56be428.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10015 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9940 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9301 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9070 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9555 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9459 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9682 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9625 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10102 | $10488 | $10478 | $10628 |
| **8/31/2016** | $10063 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10212 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9927 | $10228 | $10208 | $10451 |
| **11/30/2016** | $10054 | $10451 | $10480 | $10838 |
| **12/31/2016** | $10023 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10395 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10719 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10828 | $11523 | $11527 | $11723 |
| **4/30/2017** | $11082 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11581 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11502 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11905 | $12381 | $12367 | $12333 |
| **8/31/2017** | $12119 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12259 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12863 | $13267 | $13250 | $12921 |
| **11/30/2017** | $13176 | $13670 | $13651 | $13317 |
| **12/31/2017** | $13185 | $13777 | $13750 | $13465 |
| **1/31/2018** | $14205 | $14752 | $14690 | $14236 |
| **2/28/2018** | $14070 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13795 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13879 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14736 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14759 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14829 | $15210 | $15193 | $14336 |
| **8/31/2018** | $16161 | $16041 | $16033 | $14803 |
| **9/30/2018** | $16394 | $16131 | $16086 | $14887 |
| **10/31/2018** | $14144 | $14688 | $14601 | $13870 |
| **11/30/2018** | $14256 | $14844 | $14762 | $14153 |
| **12/31/2018** | $13091 | $13568 | $13459 | $12875 |
| **1/31/2019** | $14451 | $14788 | $14694 | $13906 |
| **2/28/2019** | $15433 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15818 | $15753 | $15636 | $14632 |
| **4/30/2019** | $16381 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15745 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16828 | $16484 | $16340 | $15262 |
| **7/31/2019** | $17346 | $16856 | $16695 | $15481 |
| **8/31/2019** | $17162 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15835 | $16729 | $16521 | $15521 |
| **10/31/2019** | $16353 | $17200 | $16987 | $15857 |
| **11/30/2019** | $17315 | $17963 | $17756 | $16432 |
| **12/31/2019** | $17684 | $18505 | $18283 | $16928 |
| **1/31/2020** | $18391 | $18919 | $18652 | $16922 |
| **2/29/2020** | $17617 | $17631 | $17377 | $15529 |
| **3/31/2020** | $15961 | $15896 | $15568 | $13611 |
| **4/30/2020** | $18488 | $18248 | $17872 | $15356 |
| **5/31/2020** | $20609 | $19474 | $19100 | $16087 |
| **6/30/2020** | $22386 | $20322 | $19926 | $16407 |
| **7/31/2020** | $24332 | $21885 | $21410 | $17332 |
| **8/31/2020** | $26749 | $24143 | $23566 | $18578 |
| **9/30/2020** | $26623 | $23007 | $22488 | $17872 |
| **10/31/2020** | $26284 | $22226 | $21777 | $17397 |
| **11/30/2020** | $29443 | $24502 | $24101 | $19301 |
| **12/31/2020** | $31387 | $25629 | $25279 | $20043 |
| **1/31/2021** | $31420 | $25439 | $25183 | $19841 |
| **2/28/2021** | $31799 | $25433 | $25235 | $20388 |
| **3/31/2021** | $30189 | $25870 | $25580 | $21281 |
| **4/30/2021** | $31846 | $27630 | $27240 | $22416 |
| **5/31/2021** | $30508 | $27248 | $26836 | $22573 |
| **6/30/2021** | $32172 | $28958 | $28491 | $23100 |
| **7/31/2021** | $33337 | $29912 | $29296 | $23649 |
| **8/31/2021** | $34521 | $31030 | $30355 | $24368 |
| **9/30/2021** | $32664 | $29293 | $28689 | $23234 |
| **10/31/2021** | $36305 | $31830 | $31100 | $24862 |
| **11/30/2021** | $36020 | $32024 | $31185 | $24690 |
| **12/31/2021** | $34195 | $32701 | $31813 | $25797 |
| **1/31/2022** | $29925 | $29895 | $28993 | $24462 |
| **2/28/2022** | $28971 | $28625 | $27837 | $23729 |
| **3/31/2022** | $29737 | $29745 | $28870 | $24610 |
| **4/30/2022** | $25646 | $26153 | $25380 | $22464 |
| **5/31/2022** | $24619 | $25545 | $24796 | $22505 |
| **6/30/2022** | $22778 | $23521 | $22857 | $20648 |
| **7/31/2022** | $25182 | $26344 | $25590 | $22552 |
| **8/31/2022** | $24236 | $25117 | $24453 | $21632 |
| **9/30/2022** | $21995 | $22675 | $22087 | $19640 |
| **10/31/2022** | $22549 | $24001 | $23427 | $21230 |
| **11/30/2022** | $22892 | $25094 | $24451 | $22416 |
| **12/31/2022** | $20952 | $23173 | $22598 | $21125 |
| **1/31/2023** | $22370 | $25105 | $24504 | $22452 |
| **2/28/2023** | $21726 | $24807 | $24215 | $21904 |
| **3/31/2023** | $23055 | $26502 | $25728 | $22708 |
| **4/30/2023** | $22680 | $26764 | $25950 | $23063 |
| **5/31/2023** | $23910 | $27984 | $27066 | $23163 |
| **6/30/2023** | $25638 | $29897 | $28937 | $24693 |
| **7/31/2023** | $26600 | $30904 | $29932 | $25487 |
| **8/31/2023** | $26249 | $30627 | $29596 | $25081 |
| **9/30/2023** | $24440 | $28961 | $27969 | $23885 |
| **10/31/2023** | $23650 | $28549 | $27484 | $23383 |
| **11/30/2023** | $26893 | $31661 | $30458 | $25518 |
| **12/31/2023** | $27928 | $33063 | $31911 | $26678 |
| **1/31/2024** | $29542 | $33888 | $32617 | $27126 |
| **2/29/2024** | $32272 | $36200 | $34862 | $28574 |
| **3/31/2024** | $32891 | $36837 | $35493 | $29494 |
| **4/30/2024** | $30960 | $35275 | $33929 | $28289 |
| **5/31/2024** | $32581 | $37386 | $35950 | $29692 |
| **6/30/2024** | $34741 | $39907 | $38260 | $30757 |
| **7/31/2024** | $33144 | $39229 | $37775 | $31132 |
| **8/31/2024** | $34399 | $40046 | $38504 | $31887 |
| **9/30/2024** | $35694 | $41180 | $39568 | $32568 |
| **10/31/2024** | $36599 | $41044 | $39419 | $32272 |
| **11/30/2024** | $41016 | $43706 | $42080 | $34167 |
| **12/31/2024** | $40486 | $44092 | $42268 | $33352 |
| **1/31/2025** | $42401 | $44964 | $43126 | $34281 |
| **2/28/2025** | $39484 | $43349 | $41516 | $33834 |
| **3/31/2025** | $34977 | $39683 | $38020 | $31928 |
| **4/30/2025** | $36615 | $40359 | $38630 | $31711 |
| **5/31/2025** | $40454 | $43970 | $42045 | $33707 |
| **6/30/2025** | $43990 | $46818 | $44759 | $35421 |
| **7/31/2025** | $45588 | $48586 | $46409 | $36216 |
| **8/31/2025** | $46541 | $49129 | $47020 | $36950 |
| **9/30/2025** | $48799 | $51733 | $49489 | $38299 |
| **10/31/2025** | $50290 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | 37.41% | 13.86% | 17.53% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LGLIX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-3338-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R2

# LGLQX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R2 | $147 | 1.24% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 36.60%, reflecting performance at the net asset value (NAV) of Class R2 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i2ef2ac2d0776d5c863569026.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R2** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10006 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9927 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9282 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9048 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9530 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9428 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9644 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9583 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10050 | $10488 | $10478 | $10628 |
| **8/31/2016** | $10006 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10152 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9865 | $10228 | $10208 | $10451 |
| **11/30/2016** | $9984 | $10451 | $10480 | $10838 |
| **12/31/2016** | $9949 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10315 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10629 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10735 | $11523 | $11527 | $11723 |
| **4/30/2017** | $10977 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11467 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11383 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11776 | $12381 | $12367 | $12333 |
| **8/31/2017** | $11979 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12112 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12703 | $13267 | $13250 | $12921 |
| **11/30/2017** | $13005 | $13670 | $13651 | $13317 |
| **12/31/2017** | $13010 | $13777 | $13750 | $13465 |
| **1/31/2018** | $14008 | $14752 | $14690 | $14236 |
| **2/28/2018** | $13867 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13594 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13664 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14506 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14521 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14582 | $15210 | $15193 | $14336 |
| **8/31/2018** | $15880 | $16041 | $16033 | $14803 |
| **9/30/2018** | $16102 | $16131 | $16086 | $14887 |
| **10/31/2018** | $13885 | $14688 | $14601 | $13870 |
| **11/30/2018** | $13988 | $14844 | $14762 | $14153 |
| **12/31/2018** | $12837 | $13568 | $13459 | $12875 |
| **1/31/2019** | $14169 | $14788 | $14694 | $13906 |
| **2/28/2019** | $15122 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15490 | $15753 | $15636 | $14632 |
| **4/30/2019** | $16034 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15405 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16453 | $16484 | $16340 | $15262 |
| **7/31/2019** | $16958 | $16856 | $16695 | $15481 |
| **8/31/2019** | $16760 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15462 | $16729 | $16521 | $15521 |
| **10/31/2019** | $15960 | $17200 | $16987 | $15857 |
| **11/30/2019** | $16886 | $17963 | $17756 | $16432 |
| **12/31/2019** | $17238 | $18505 | $18283 | $16928 |
| **1/31/2020** | $17916 | $18919 | $18652 | $16922 |
| **2/29/2020** | $17158 | $17631 | $17377 | $15529 |
| **3/31/2020** | $15543 | $15896 | $15568 | $13611 |
| **4/30/2020** | $17990 | $18248 | $17872 | $15356 |
| **5/31/2020** | $20042 | $19474 | $19100 | $16087 |
| **6/30/2020** | $21755 | $20322 | $19926 | $16407 |
| **7/31/2020** | $23641 | $21885 | $21410 | $17332 |
| **8/31/2020** | $25977 | $24143 | $23566 | $18578 |
| **9/30/2020** | $25841 | $23007 | $22488 | $17872 |
| **10/31/2020** | $25496 | $22226 | $21777 | $17397 |
| **11/30/2020** | $28552 | $24502 | $24101 | $19301 |
| **12/31/2020** | $30414 | $25629 | $25279 | $20043 |
| **1/31/2021** | $30435 | $25439 | $25183 | $19841 |
| **2/28/2021** | $30783 | $25433 | $25235 | $20388 |
| **3/31/2021** | $29213 | $25870 | $25580 | $21281 |
| **4/30/2021** | $30796 | $27630 | $27240 | $22416 |
| **5/31/2021** | $29493 | $27248 | $26836 | $22573 |
| **6/30/2021** | $31083 | $28958 | $28491 | $23100 |
| **7/31/2021** | $32195 | $29912 | $29296 | $23649 |
| **8/31/2021** | $33321 | $31030 | $30355 | $24368 |
| **9/30/2021** | $31513 | $29293 | $28689 | $23234 |
| **10/31/2021** | $35012 | $31830 | $31100 | $24862 |
| **11/30/2021** | $34721 | $32024 | $31185 | $24690 |
| **12/31/2021** | $32933 | $32701 | $31813 | $25797 |
| **1/31/2022** | $28806 | $29895 | $28993 | $24462 |
| **2/28/2022** | $27882 | $28625 | $27837 | $23729 |
| **3/31/2022** | $28603 | $29745 | $28870 | $24610 |
| **4/30/2022** | $24653 | $26153 | $25380 | $22464 |
| **5/31/2022** | $23653 | $25545 | $24796 | $22505 |
| **6/30/2022** | $21882 | $23521 | $22857 | $20648 |
| **7/31/2022** | $24179 | $26344 | $25590 | $22552 |
| **8/31/2022** | $23255 | $25117 | $24453 | $21632 |
| **9/30/2022** | $21094 | $22675 | $22087 | $19640 |
| **10/31/2022** | $21611 | $24001 | $23427 | $21230 |
| **11/30/2022** | $21933 | $25094 | $24451 | $22416 |
| **12/31/2022** | $20068 | $23173 | $22598 | $21125 |
| **1/31/2023** | $21407 | $25105 | $24504 | $22452 |
| **2/28/2023** | $20780 | $24807 | $24215 | $21904 |
| **3/31/2023** | $22043 | $26502 | $25728 | $22708 |
| **4/30/2023** | $21679 | $26764 | $25950 | $23063 |
| **5/31/2023** | $22840 | $27984 | $27066 | $23163 |
| **6/30/2023** | $24475 | $29897 | $28937 | $24693 |
| **7/31/2023** | $25382 | $30904 | $29932 | $25487 |
| **8/31/2023** | $25035 | $30627 | $29596 | $25081 |
| **9/30/2023** | $23297 | $28961 | $27969 | $23885 |
| **10/31/2023** | $22535 | $28549 | $27484 | $23383 |
| **11/30/2023** | $25611 | $31661 | $30458 | $25518 |
| **12/31/2023** | $26586 | $33063 | $31911 | $26678 |
| **1/31/2024** | $28103 | $33888 | $32617 | $27126 |
| **2/29/2024** | $30687 | $36200 | $34862 | $28574 |
| **3/31/2024** | $31255 | $36837 | $35493 | $29494 |
| **4/30/2024** | $29408 | $35275 | $33929 | $28289 |
| **5/31/2024** | $30933 | $37386 | $35950 | $29692 |
| **6/30/2024** | $32967 | $39907 | $38260 | $30757 |
| **7/31/2024** | $31433 | $39229 | $37775 | $31132 |
| **8/31/2024** | $32611 | $40046 | $38504 | $31887 |
| **9/30/2024** | $33823 | $41180 | $39568 | $32568 |
| **10/31/2024** | $34662 | $41044 | $39419 | $32272 |
| **11/30/2024** | $38823 | $43706 | $42080 | $34167 |
| **12/31/2024** | $38306 | $44092 | $42268 | $33352 |
| **1/31/2025** | $40095 | $44964 | $43126 | $34281 |
| **2/28/2025** | $37323 | $43349 | $41516 | $33834 |
| **3/31/2025** | $33043 | $39683 | $38020 | $31928 |
| **4/30/2025** | $34569 | $40359 | $38630 | $31711 |
| **5/31/2025** | $38179 | $43970 | $42045 | $33707 |
| **6/30/2025** | $41493 | $46818 | $44759 | $35421 |
| **7/31/2025** | $42976 | $48586 | $46409 | $36216 |
| **8/31/2025** | $43857 | $49129 | $47020 | $36950 |
| **9/30/2025** | $45968 | $51733 | $49489 | $38299 |
| **10/31/2025** | $47349 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R2 at NAV | 36.60% | 13.18% | 16.82% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R2

# LGLQX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-3339-R2

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LGLRX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $135 | 1.14% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 36.74%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if06af69b0a0611451c356d19.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R3** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10011 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9931 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9291 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9056 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9536 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9433 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9655 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9593 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10064 | $10488 | $10478 | $10628 |
| **8/31/2016** | $10019 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10166 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9877 | $10228 | $10208 | $10451 |
| **11/30/2016** | $9997 | $10451 | $10480 | $10838 |
| **12/31/2016** | $9962 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10330 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10645 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10752 | $11523 | $11527 | $11723 |
| **4/30/2017** | $10996 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11489 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11404 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11800 | $12381 | $12367 | $12333 |
| **8/31/2017** | $12004 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12137 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12732 | $13267 | $13250 | $12921 |
| **11/30/2017** | $13036 | $13670 | $13651 | $13317 |
| **12/31/2017** | $13041 | $13777 | $13750 | $13465 |
| **1/31/2018** | $14039 | $14752 | $14690 | $14236 |
| **2/28/2018** | $13902 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13628 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13703 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14546 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14565 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14626 | $15210 | $15193 | $14336 |
| **8/31/2018** | $15933 | $16041 | $16033 | $14803 |
| **9/30/2018** | $16155 | $16131 | $16086 | $14887 |
| **10/31/2018** | $13930 | $14688 | $14601 | $13870 |
| **11/30/2018** | $14033 | $14844 | $14762 | $14153 |
| **12/31/2018** | $12887 | $13568 | $13459 | $12875 |
| **1/31/2019** | $14216 | $14788 | $14694 | $13906 |
| **2/28/2019** | $15174 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15545 | $15753 | $15636 | $14632 |
| **4/30/2019** | $16098 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15465 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16520 | $16484 | $16340 | $15262 |
| **7/31/2019** | $17023 | $16856 | $16695 | $15481 |
| **8/31/2019** | $16829 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15522 | $16729 | $16521 | $15521 |
| **10/31/2019** | $16024 | $17200 | $16987 | $15857 |
| **11/30/2019** | $16962 | $17963 | $17756 | $16432 |
| **12/31/2019** | $17316 | $18505 | $18283 | $16928 |
| **1/31/2020** | $17998 | $18919 | $18652 | $16922 |
| **2/29/2020** | $17235 | $17631 | $17377 | $15529 |
| **3/31/2020** | $15610 | $15896 | $15568 | $13611 |
| **4/30/2020** | $18079 | $18248 | $17872 | $15356 |
| **5/31/2020** | $20139 | $19474 | $19100 | $16087 |
| **6/30/2020** | $21863 | $20322 | $19926 | $16407 |
| **7/31/2020** | $23756 | $21885 | $21410 | $17332 |
| **8/31/2020** | $26107 | $24143 | $23566 | $18578 |
| **9/30/2020** | $25971 | $23007 | $22488 | $17872 |
| **10/31/2020** | $25629 | $22226 | $21777 | $17397 |
| **11/30/2020** | $28698 | $24502 | $24101 | $19301 |
| **12/31/2020** | $30574 | $25629 | $25279 | $20043 |
| **1/31/2021** | $30594 | $25439 | $25183 | $19841 |
| **2/28/2021** | $30952 | $25433 | $25235 | $20388 |
| **3/31/2021** | $29379 | $25870 | $25580 | $21281 |
| **4/30/2021** | $30972 | $27630 | $27240 | $22416 |
| **5/31/2021** | $29660 | $27248 | $26836 | $22573 |
| **6/30/2021** | $31267 | $28958 | $28491 | $23100 |
| **7/31/2021** | $32380 | $29912 | $29296 | $23649 |
| **8/31/2021** | $33521 | $31030 | $30355 | $24368 |
| **9/30/2021** | $31707 | $29293 | $28689 | $23234 |
| **10/31/2021** | $35224 | $31830 | $31100 | $24862 |
| **11/30/2021** | $34938 | $32024 | $31185 | $24690 |
| **12/31/2021** | $33146 | $32701 | $31813 | $25797 |
| **1/31/2022** | $28990 | $29895 | $28993 | $24462 |
| **2/28/2022** | $28060 | $28625 | $27837 | $23729 |
| **3/31/2022** | $28793 | $29745 | $28870 | $24610 |
| **4/30/2022** | $24817 | $26153 | $25380 | $22464 |
| **5/31/2022** | $23818 | $25545 | $24796 | $22505 |
| **6/30/2022** | $22026 | $23521 | $22857 | $20648 |
| **7/31/2022** | $24339 | $26344 | $25590 | $22552 |
| **8/31/2022** | $23417 | $25117 | $24453 | $21632 |
| **9/30/2022** | $21241 | $22675 | $22087 | $19640 |
| **10/31/2022** | $21770 | $24001 | $23427 | $21230 |
| **11/30/2022** | $22094 | $25094 | $24451 | $22416 |
| **12/31/2022** | $20217 | $23173 | $22598 | $21125 |
| **1/31/2023** | $21574 | $25105 | $24504 | $22452 |
| **2/28/2023** | $20942 | $24807 | $24215 | $21904 |
| **3/31/2023** | $22205 | $26502 | $25728 | $22708 |
| **4/30/2023** | $21847 | $26764 | $25950 | $23063 |
| **5/31/2023** | $23016 | $27984 | $27066 | $23163 |
| **6/30/2023** | $24672 | $29897 | $28937 | $24693 |
| **7/31/2023** | $25585 | $30904 | $29932 | $25487 |
| **8/31/2023** | $25235 | $30627 | $29596 | $25081 |
| **9/30/2023** | $23485 | $28961 | $27969 | $23885 |
| **10/31/2023** | $22717 | $28549 | $27484 | $23383 |
| **11/30/2023** | $25824 | $31661 | $30458 | $25518 |
| **12/31/2023** | $26805 | $33063 | $31911 | $26678 |
| **1/31/2024** | $28341 | $33888 | $32617 | $27126 |
| **2/29/2024** | $30944 | $36200 | $34862 | $28574 |
| **3/31/2024** | $31524 | $36837 | $35493 | $29494 |
| **4/30/2024** | $29664 | $35275 | $33929 | $28289 |
| **5/31/2024** | $31209 | $37386 | $35950 | $29692 |
| **6/30/2024** | $33265 | $39907 | $38260 | $30757 |
| **7/31/2024** | $31721 | $39229 | $37775 | $31132 |
| **8/31/2024** | $32907 | $40046 | $38504 | $31887 |
| **9/30/2024** | $34127 | $41180 | $39568 | $32568 |
| **10/31/2024** | $34981 | $41044 | $39419 | $32272 |
| **11/30/2024** | $39179 | $43706 | $42080 | $34167 |
| **12/31/2024** | $38667 | $44092 | $42268 | $33352 |
| **1/31/2025** | $40476 | $44964 | $43126 | $34281 |
| **2/28/2025** | $37677 | $43349 | $41516 | $33834 |
| **3/31/2025** | $33359 | $39683 | $38020 | $31928 |
| **4/30/2025** | $34904 | $40359 | $38630 | $31711 |
| **5/31/2025** | $38556 | $43970 | $42045 | $33707 |
| **6/30/2025** | $41910 | $46818 | $44759 | $35421 |
| **7/31/2025** | $43404 | $48586 | $46409 | $36216 |
| **8/31/2025** | $44300 | $49129 | $47020 | $36950 |
| **9/30/2025** | $46433 | $51733 | $49489 | $38299 |
| **10/31/2025** | $47833 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R3 at NAV | 36.74% | 13.29% | 16.94% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LGLRX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-3340-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LGLSX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $105 | 0.89% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 37.06%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i290045a5dada1b904345028b.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R4** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10011 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9931 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9291 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9057 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9542 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9445 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9666 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9609 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10077 | $10488 | $10478 | $10628 |
| **8/31/2016** | $10037 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10187 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9900 | $10228 | $10208 | $10451 |
| **11/30/2016** | $10024 | $10451 | $10480 | $10838 |
| **12/31/2016** | $9988 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10359 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10677 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10788 | $11523 | $11527 | $11723 |
| **4/30/2017** | $11035 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11534 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11450 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11847 | $12381 | $12367 | $12333 |
| **8/31/2017** | $12059 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12196 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12792 | $13267 | $13250 | $12921 |
| **11/30/2017** | $13099 | $13670 | $13651 | $13317 |
| **12/31/2017** | $13108 | $13777 | $13750 | $13465 |
| **1/31/2018** | $14120 | $14752 | $14690 | $14236 |
| **2/28/2018** | $13979 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13706 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13786 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14638 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14656 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14722 | $15210 | $15193 | $14336 |
| **8/31/2018** | $16040 | $16041 | $16033 | $14803 |
| **9/30/2018** | $16270 | $16131 | $16086 | $14887 |
| **10/31/2018** | $14031 | $14688 | $14601 | $13870 |
| **11/30/2018** | $14143 | $14844 | $14762 | $14153 |
| **12/31/2018** | $12984 | $13568 | $13459 | $12875 |
| **1/31/2019** | $14330 | $14788 | $14694 | $13906 |
| **2/28/2019** | $15297 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15676 | $15753 | $15636 | $14632 |
| **4/30/2019** | $16235 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15602 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16665 | $16484 | $16340 | $15262 |
| **7/31/2019** | $17180 | $16856 | $16695 | $15481 |
| **8/31/2019** | $16987 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15676 | $16729 | $16521 | $15521 |
| **10/31/2019** | $16184 | $17200 | $16987 | $15857 |
| **11/30/2019** | $17131 | $17963 | $17756 | $16432 |
| **12/31/2019** | $17493 | $18505 | $18283 | $16928 |
| **1/31/2020** | $18187 | $18919 | $18652 | $16922 |
| **2/29/2020** | $17420 | $17631 | $17377 | $15529 |
| **3/31/2020** | $15780 | $15896 | $15568 | $13611 |
| **4/30/2020** | $18279 | $18248 | $17872 | $15356 |
| **5/31/2020** | $20367 | $19474 | $19100 | $16087 |
| **6/30/2020** | $22117 | $20322 | $19926 | $16407 |
| **7/31/2020** | $24039 | $21885 | $21410 | $17332 |
| **8/31/2020** | $26421 | $24143 | $23566 | $18578 |
| **9/30/2020** | $26286 | $23007 | $22488 | $17872 |
| **10/31/2020** | $25948 | $22226 | $21777 | $17397 |
| **11/30/2020** | $29060 | $24502 | $24101 | $19301 |
| **12/31/2020** | $30972 | $25629 | $25279 | $20043 |
| **1/31/2021** | $31000 | $25439 | $25183 | $19841 |
| **2/28/2021** | $31366 | $25433 | $25235 | $20388 |
| **3/31/2021** | $29772 | $25870 | $25580 | $21281 |
| **4/30/2021** | $31400 | $27630 | $27240 | $22416 |
| **5/31/2021** | $30077 | $27248 | $26836 | $22573 |
| **6/30/2021** | $31705 | $28958 | $28491 | $23100 |
| **7/31/2021** | $32851 | $29912 | $29296 | $23649 |
| **8/31/2021** | $34011 | $31030 | $30355 | $24368 |
| **9/30/2021** | $32173 | $29293 | $28689 | $23234 |
| **10/31/2021** | $35754 | $31830 | $31100 | $24862 |
| **11/30/2021** | $35463 | $32024 | $31185 | $24690 |
| **12/31/2021** | $33655 | $32701 | $31813 | $25797 |
| **1/31/2022** | $29445 | $29895 | $28993 | $24462 |
| **2/28/2022** | $28508 | $28625 | $27837 | $23729 |
| **3/31/2022** | $29252 | $29745 | $28870 | $24610 |
| **4/30/2022** | $25218 | $26153 | $25380 | $22464 |
| **5/31/2022** | $24205 | $25545 | $24796 | $22505 |
| **6/30/2022** | $22398 | $23521 | $22857 | $20648 |
| **7/31/2022** | $24750 | $26344 | $25590 | $22552 |
| **8/31/2022** | $23820 | $25117 | $24453 | $21632 |
| **9/30/2022** | $21611 | $22675 | $22087 | $19640 |
| **10/31/2022** | $22147 | $24001 | $23427 | $21230 |
| **11/30/2022** | $22481 | $25094 | $24451 | $22416 |
| **12/31/2022** | $20573 | $23173 | $22598 | $21125 |
| **1/31/2023** | $21962 | $25105 | $24504 | $22452 |
| **2/28/2023** | $21326 | $24807 | $24215 | $21904 |
| **3/31/2023** | $22624 | $26502 | $25728 | $22708 |
| **4/30/2023** | $22255 | $26764 | $25950 | $23063 |
| **5/31/2023** | $23452 | $27984 | $27066 | $23163 |
| **6/30/2023** | $25143 | $29897 | $28937 | $24693 |
| **7/31/2023** | $26080 | $30904 | $29932 | $25487 |
| **8/31/2023** | $25729 | $30627 | $29596 | $25081 |
| **9/30/2023** | $23954 | $28961 | $27969 | $23885 |
| **10/31/2023** | $23176 | $28549 | $27484 | $23383 |
| **11/30/2023** | $26348 | $31661 | $30458 | $25518 |
| **12/31/2023** | $27353 | $33063 | $31911 | $26678 |
| **1/31/2024** | $28926 | $33888 | $32617 | $27126 |
| **2/29/2024** | $31596 | $36200 | $34862 | $28574 |
| **3/31/2024** | $32190 | $36837 | $35493 | $29494 |
| **4/30/2024** | $30299 | $35275 | $33929 | $28289 |
| **5/31/2024** | $31881 | $37386 | $35950 | $29692 |
| **6/30/2024** | $33990 | $39907 | $38260 | $30757 |
| **7/31/2024** | $32416 | $39229 | $37775 | $31132 |
| **8/31/2024** | $33638 | $40046 | $38504 | $31887 |
| **9/30/2024** | $34894 | $41180 | $39568 | $32568 |
| **10/31/2024** | $35773 | $41044 | $39419 | $32272 |
| **11/30/2024** | $40083 | $43706 | $42080 | $34167 |
| **12/31/2024** | $39556 | $44092 | $42268 | $33352 |
| **1/31/2025** | $41422 | $44964 | $43126 | $34281 |
| **2/28/2025** | $38568 | $43349 | $41516 | $33834 |
| **3/31/2025** | $34157 | $39683 | $38020 | $31928 |
| **4/30/2025** | $35739 | $40359 | $38630 | $31711 |
| **5/31/2025** | $39489 | $43970 | $42045 | $33707 |
| **6/30/2025** | $42929 | $46818 | $44759 | $35421 |
| **7/31/2025** | $44469 | $48586 | $46409 | $36216 |
| **8/31/2025** | $45389 | $49129 | $47020 | $36950 |
| **9/30/2025** | $47591 | $51733 | $49489 | $38299 |
| **10/31/2025** | $49030 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R4 at NAV | 37.06% | 13.57% | 17.23% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LGLSX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8727-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LGLUX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $76 | 0.64% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 37.41%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if24d0f7f7004c4a3a636e537.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R5** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10015 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9936 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9297 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9070 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9555 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9459 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9682 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9625 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10102 | $10488 | $10478 | $10628 |
| **8/31/2016** | $10063 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10216 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9932 | $10228 | $10208 | $10451 |
| **11/30/2016** | $10054 | $10451 | $10480 | $10838 |
| **12/31/2016** | $10024 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10400 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10719 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10833 | $11523 | $11527 | $11723 |
| **4/30/2017** | $11082 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11586 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11507 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11909 | $12381 | $12367 | $12333 |
| **8/31/2017** | $12124 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12264 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12867 | $13267 | $13250 | $12921 |
| **11/30/2017** | $13180 | $13670 | $13651 | $13317 |
| **12/31/2017** | $13190 | $13777 | $13750 | $13465 |
| **1/31/2018** | $14209 | $14752 | $14690 | $14236 |
| **2/28/2018** | $14070 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13800 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13883 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14740 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14764 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14834 | $15210 | $15193 | $14336 |
| **8/31/2018** | $16166 | $16041 | $16033 | $14803 |
| **9/30/2018** | $16398 | $16131 | $16086 | $14887 |
| **10/31/2018** | $14149 | $14688 | $14601 | $13870 |
| **11/30/2018** | $14261 | $14844 | $14762 | $14153 |
| **12/31/2018** | $13095 | $13568 | $13459 | $12875 |
| **1/31/2019** | $14456 | $14788 | $14694 | $13906 |
| **2/28/2019** | $15438 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15822 | $15753 | $15636 | $14632 |
| **4/30/2019** | $16386 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15750 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16832 | $16484 | $16340 | $15262 |
| **7/31/2019** | $17356 | $16856 | $16695 | $15481 |
| **8/31/2019** | $17167 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15839 | $16729 | $16521 | $15521 |
| **10/31/2019** | $16358 | $17200 | $16987 | $15857 |
| **11/30/2019** | $17320 | $17963 | $17756 | $16432 |
| **12/31/2019** | $17688 | $18505 | $18283 | $16928 |
| **1/31/2020** | $18395 | $18919 | $18652 | $16922 |
| **2/29/2020** | $17622 | $17631 | $17377 | $15529 |
| **3/31/2020** | $15966 | $15896 | $15568 | $13611 |
| **4/30/2020** | $18498 | $18248 | $17872 | $15356 |
| **5/31/2020** | $20619 | $19474 | $19100 | $16087 |
| **6/30/2020** | $22390 | $20322 | $19926 | $16407 |
| **7/31/2020** | $24342 | $21885 | $21410 | $17332 |
| **8/31/2020** | $26759 | $24143 | $23566 | $18578 |
| **9/30/2020** | $26632 | $23007 | $22488 | $17872 |
| **10/31/2020** | $26294 | $22226 | $21777 | $17397 |
| **11/30/2020** | $29452 | $24502 | $24101 | $19301 |
| **12/31/2020** | $31395 | $25629 | $25279 | $20043 |
| **1/31/2021** | $31429 | $25439 | $25183 | $19841 |
| **2/28/2021** | $31808 | $25433 | $25235 | $20388 |
| **3/31/2021** | $30198 | $25870 | $25580 | $21281 |
| **4/30/2021** | $31855 | $27630 | $27240 | $22416 |
| **5/31/2021** | $30517 | $27248 | $26836 | $22573 |
| **6/30/2021** | $32181 | $28958 | $28491 | $23100 |
| **7/31/2021** | $33345 | $29912 | $29296 | $23649 |
| **8/31/2021** | $34536 | $31030 | $30355 | $24368 |
| **9/30/2021** | $32673 | $29293 | $28689 | $23234 |
| **10/31/2021** | $36320 | $31830 | $31100 | $24862 |
| **11/30/2021** | $36029 | $32024 | $31185 | $24690 |
| **12/31/2021** | $34203 | $32701 | $31813 | $25797 |
| **1/31/2022** | $29934 | $29895 | $28993 | $24462 |
| **2/28/2022** | $28981 | $28625 | $27837 | $23729 |
| **3/31/2022** | $29747 | $29745 | $28870 | $24610 |
| **4/30/2022** | $25649 | $26153 | $25380 | $22464 |
| **5/31/2022** | $24630 | $25545 | $24796 | $22505 |
| **6/30/2022** | $22789 | $23521 | $22857 | $20648 |
| **7/31/2022** | $25192 | $26344 | $25590 | $22552 |
| **8/31/2022** | $24247 | $25117 | $24453 | $21632 |
| **9/30/2022** | $21998 | $22675 | $22087 | $19640 |
| **10/31/2022** | $22552 | $24001 | $23427 | $21230 |
| **11/30/2022** | $22903 | $25094 | $24451 | $22416 |
| **12/31/2022** | $20964 | $23173 | $22598 | $21125 |
| **1/31/2023** | $22381 | $25105 | $24504 | $22452 |
| **2/28/2023** | $21730 | $24807 | $24215 | $21904 |
| **3/31/2023** | $23058 | $26502 | $25728 | $22708 |
| **4/30/2023** | $22691 | $26764 | $25950 | $23063 |
| **5/31/2023** | $23913 | $27984 | $27066 | $23163 |
| **6/30/2023** | $25649 | $29897 | $28937 | $24693 |
| **7/31/2023** | $26610 | $30904 | $29932 | $25487 |
| **8/31/2023** | $26251 | $30627 | $29596 | $25081 |
| **9/30/2023** | $24451 | $28961 | $27969 | $23885 |
| **10/31/2023** | $23652 | $28549 | $27484 | $23383 |
| **11/30/2023** | $26903 | $31661 | $30458 | $25518 |
| **12/31/2023** | $27938 | $33063 | $31911 | $26678 |
| **1/31/2024** | $29551 | $33888 | $32617 | $27126 |
| **2/29/2024** | $32281 | $36200 | $34862 | $28574 |
| **3/31/2024** | $32900 | $36837 | $35493 | $29494 |
| **4/30/2024** | $30969 | $35275 | $33929 | $28289 |
| **5/31/2024** | $32598 | $37386 | $35950 | $29692 |
| **6/30/2024** | $34758 | $39907 | $38260 | $30757 |
| **7/31/2024** | $33152 | $39229 | $37775 | $31132 |
| **8/31/2024** | $34407 | $40046 | $38504 | $31887 |
| **9/30/2024** | $35703 | $41180 | $39568 | $32568 |
| **10/31/2024** | $36615 | $41044 | $39419 | $32272 |
| **11/30/2024** | $41023 | $43706 | $42080 | $34167 |
| **12/31/2024** | $40502 | $44092 | $42268 | $33352 |
| **1/31/2025** | $42416 | $44964 | $43126 | $34281 |
| **2/28/2025** | $39499 | $43349 | $41516 | $33834 |
| **3/31/2025** | $34986 | $39683 | $38020 | $31928 |
| **4/30/2025** | $36623 | $40359 | $38630 | $31711 |
| **5/31/2025** | $40469 | $43970 | $42045 | $33707 |
| **6/30/2025** | $44005 | $46818 | $44759 | $35421 |
| **7/31/2025** | $45602 | $48586 | $46409 | $36216 |
| **8/31/2025** | $46555 | $49129 | $47020 | $36950 |
| **9/30/2025** | $48820 | $51733 | $49489 | $38299 |
| **10/31/2025** | $50311 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R5 at NAV | 37.41% | 13.86% | 17.53% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LGLUX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8759-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LGLVX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Growth Leaders Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $69 | 0.58% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 37.52%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 30.70% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 1000 Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to AppLovin Corporation. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Insmed, Inc.

**Top detractors from performance:** Security selection within the Consumer Discretionary sector detracted from relative performance, led by an underweight allocation to Tesla, Inc. Although security selection within the Financials sector was a net contributor to relative performance over the period, an overweight allocation to Affirm Holdings, Inc. detracted from performance.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ia5f6a314852c8d801a8dae6c.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **Russell 1000 Growth Index** | **Russell 3000 Growth Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10015 | $10028 | $10053 | $10030 |
| **12/31/2015** | $9940 | $9881 | $9880 | $9872 |
| **1/31/2016** | $9302 | $9329 | $9290 | $9382 |
| **2/29/2016** | $9070 | $9325 | $9282 | $9369 |
| **3/31/2016** | $9556 | $9954 | $9914 | $10005 |
| **4/30/2016** | $9459 | $9863 | $9836 | $10043 |
| **5/31/2016** | $9687 | $10055 | $10033 | $10224 |
| **6/30/2016** | $9630 | $10015 | $9993 | $10250 |
| **7/31/2016** | $10107 | $10488 | $10478 | $10628 |
| **8/31/2016** | $10067 | $10436 | $10438 | $10643 |
| **9/30/2016** | $10220 | $10474 | $10485 | $10645 |
| **10/31/2016** | $9936 | $10228 | $10208 | $10451 |
| **11/30/2016** | $10063 | $10451 | $10480 | $10838 |
| **12/31/2016** | $10032 | $10580 | $10611 | $11052 |
| **1/31/2017** | $10408 | $10937 | $10954 | $11262 |
| **2/28/2017** | $10728 | $11391 | $11395 | $11709 |
| **3/31/2017** | $10841 | $11523 | $11527 | $11723 |
| **4/30/2017** | $11091 | $11786 | $11787 | $11843 |
| **5/31/2017** | $11594 | $12093 | $12063 | $12010 |
| **6/30/2017** | $11515 | $12061 | $12063 | $12085 |
| **7/31/2017** | $11922 | $12381 | $12367 | $12333 |
| **8/31/2017** | $12136 | $12608 | $12575 | $12371 |
| **9/30/2017** | $12276 | $12772 | $12778 | $12626 |
| **10/31/2017** | $12884 | $13267 | $13250 | $12921 |
| **11/30/2017** | $13196 | $13670 | $13651 | $13317 |
| **12/31/2017** | $13206 | $13777 | $13750 | $13465 |
| **1/31/2018** | $14230 | $14752 | $14690 | $14236 |
| **2/28/2018** | $14095 | $14366 | $14302 | $13711 |
| **3/31/2018** | $13820 | $13972 | $13954 | $13363 |
| **4/30/2018** | $13904 | $14020 | $14000 | $13414 |
| **5/31/2018** | $14765 | $14635 | $14635 | $13737 |
| **6/30/2018** | $14788 | $14776 | $14774 | $13822 |
| **7/31/2018** | $14858 | $15210 | $15193 | $14336 |
| **8/31/2018** | $16194 | $16041 | $16033 | $14803 |
| **9/30/2018** | $16427 | $16131 | $16086 | $14887 |
| **10/31/2018** | $14174 | $14688 | $14601 | $13870 |
| **11/30/2018** | $14285 | $14844 | $14762 | $14153 |
| **12/31/2018** | $13121 | $13568 | $13459 | $12875 |
| **1/31/2019** | $14486 | $14788 | $14694 | $13906 |
| **2/28/2019** | $15466 | $15317 | $15251 | $14353 |
| **3/31/2019** | $15856 | $15753 | $15636 | $14632 |
| **4/30/2019** | $16425 | $16464 | $16326 | $15224 |
| **5/31/2019** | $15789 | $15424 | $15282 | $14257 |
| **6/30/2019** | $16870 | $16484 | $16340 | $15262 |
| **7/31/2019** | $17394 | $16856 | $16695 | $15481 |
| **8/31/2019** | $17205 | $16727 | $16528 | $15236 |
| **9/30/2019** | $15879 | $16729 | $16521 | $15521 |
| **10/31/2019** | $16397 | $17200 | $16987 | $15857 |
| **11/30/2019** | $17363 | $17963 | $17756 | $16432 |
| **12/31/2019** | $17737 | $18505 | $18283 | $16928 |
| **1/31/2020** | $18443 | $18919 | $18652 | $16922 |
| **2/29/2020** | $17671 | $17631 | $17377 | $15529 |
| **3/31/2020** | $16011 | $15896 | $15568 | $13611 |
| **4/30/2020** | $18546 | $18248 | $17872 | $15356 |
| **5/31/2020** | $20676 | $19474 | $19100 | $16087 |
| **6/30/2020** | $22456 | $20322 | $19926 | $16407 |
| **7/31/2020** | $24412 | $21885 | $21410 | $17332 |
| **8/31/2020** | $26838 | $24143 | $23566 | $18578 |
| **9/30/2020** | $26711 | $23007 | $22488 | $17872 |
| **10/31/2020** | $26373 | $22226 | $21777 | $17397 |
| **11/30/2020** | $29546 | $24502 | $24101 | $19301 |
| **12/31/2020** | $31492 | $25629 | $25279 | $20043 |
| **1/31/2021** | $31526 | $25439 | $25183 | $19841 |
| **2/28/2021** | $31904 | $25433 | $25235 | $20388 |
| **3/31/2021** | $30297 | $25870 | $25580 | $21281 |
| **4/30/2021** | $31957 | $27630 | $27240 | $22416 |
| **5/31/2021** | $30622 | $27248 | $26836 | $22573 |
| **6/30/2021** | $32290 | $28958 | $28491 | $23100 |
| **7/31/2021** | $33465 | $29912 | $29296 | $23649 |
| **8/31/2021** | $34654 | $31030 | $30355 | $24368 |
| **9/30/2021** | $32794 | $29293 | $28689 | $23234 |
| **10/31/2021** | $36454 | $31830 | $31100 | $24862 |
| **11/30/2021** | $36164 | $32024 | $31185 | $24690 |
| **12/31/2021** | $34328 | $32701 | $31813 | $25797 |
| **1/31/2022** | $30047 | $29895 | $28993 | $24462 |
| **2/28/2022** | $29089 | $28625 | $27837 | $23729 |
| **3/31/2022** | $29861 | $29745 | $28870 | $24610 |
| **4/30/2022** | $25758 | $26153 | $25380 | $22464 |
| **5/31/2022** | $24727 | $25545 | $24796 | $22505 |
| **6/30/2022** | $22883 | $23521 | $22857 | $20648 |
| **7/31/2022** | $25295 | $26344 | $25590 | $22552 |
| **8/31/2022** | $24353 | $25117 | $24453 | $21632 |
| **9/30/2022** | $22095 | $22675 | $22087 | $19640 |
| **10/31/2022** | $22655 | $24001 | $23427 | $21230 |
| **11/30/2022** | $23005 | $25094 | $24451 | $22416 |
| **12/31/2022** | $21055 | $23173 | $22598 | $21125 |
| **1/31/2023** | $22485 | $25105 | $24504 | $22452 |
| **2/28/2023** | $21835 | $24807 | $24215 | $21904 |
| **3/31/2023** | $23167 | $26502 | $25728 | $22708 |
| **4/30/2023** | $22802 | $26764 | $25950 | $23063 |
| **5/31/2023** | $24036 | $27984 | $27066 | $23163 |
| **6/30/2023** | $25775 | $29897 | $28937 | $24693 |
| **7/31/2023** | $26741 | $30904 | $29932 | $25487 |
| **8/31/2023** | $26384 | $30627 | $29596 | $25081 |
| **9/30/2023** | $24572 | $28961 | $27969 | $23885 |
| **10/31/2023** | $23776 | $28549 | $27484 | $23383 |
| **11/30/2023** | $27042 | $31661 | $30458 | $25518 |
| **12/31/2023** | $28082 | $33063 | $31911 | $26678 |
| **1/31/2024** | $29706 | $33888 | $32617 | $27126 |
| **2/29/2024** | $32444 | $36200 | $34862 | $28574 |
| **3/31/2024** | $33069 | $36837 | $35493 | $29494 |
| **4/30/2024** | $31136 | $35275 | $33929 | $28289 |
| **5/31/2024** | $32769 | $37386 | $35950 | $29692 |
| **6/30/2024** | $34946 | $39907 | $38260 | $30757 |
| **7/31/2024** | $33337 | $39229 | $37775 | $31132 |
| **8/31/2024** | $34605 | $40046 | $38504 | $31887 |
| **9/30/2024** | $35912 | $41180 | $39568 | $32568 |
| **10/31/2024** | $36822 | $41044 | $39419 | $32272 |
| **11/30/2024** | $41265 | $43706 | $42080 | $34167 |
| **12/31/2024** | $40737 | $44092 | $42268 | $33352 |
| **1/31/2025** | $42671 | $44964 | $43126 | $34281 |
| **2/28/2025** | $39738 | $43349 | $41516 | $33834 |
| **3/31/2025** | $35198 | $39683 | $38020 | $31928 |
| **4/30/2025** | $36847 | $40359 | $38630 | $31711 |
| **5/31/2025** | $40721 | $43970 | $42045 | $33707 |
| **6/30/2025** | $44279 | $46818 | $44759 | $35421 |
| **7/31/2025** | $45888 | $48586 | $46409 | $36216 |
| **8/31/2025** | $46854 | $49129 | $47020 | $36950 |
| **9/30/2025** | $49137 | $51733 | $49489 | $38299 |
| **10/31/2025** | $50640 | $53644 | $51308 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R6 at NAV | 37.52% | 13.94% | 17.61% |
| Russell 1000 Growth Index | 30.70% | 19.27% | 18.29% |
| Russell 3000 Growth Index | 30.16% | 18.70% | 17.77% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8334984395 |
| # of Portfolio Holdings | 50 |
| Portfolio Turnover Rate | 72% |
| Total Advisory Fees Paid | $36989631 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 14.21% |
| Consumer Discretionary | 14.36% |
| Financials | 5.39% |
| Health Care | 6.51% |
| Industrials | 10.94% |
| Information Technology | 46.65% |
| Repurchase Agreements | 1.94% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LGLVX

# Lord Abbett Growth Leaders Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8791-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LHCAX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $107 | 1.03% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.61%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if99b07011d001cf2d36e5a14.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with load** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $9422 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9196 | $9994 | $9998 | $9763 |
| **9/30/2019** | $8756 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9095 | $10491 | $10501 | $10241 |
| **11/30/2019** | $9868 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10170 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10006 | $11182 | $11203 | $10741 |
| **2/29/2020** | $9573 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9014 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10107 | $11219 | $11264 | $9455 |
| **5/31/2020** | $10911 | $11677 | $11730 | $9866 |
| **6/30/2020** | $10948 | $11591 | $11647 | $10181 |
| **7/31/2020** | $11420 | $12084 | $12146 | $10720 |
| **8/31/2020** | $11878 | $12323 | $12390 | $11376 |
| **9/30/2020** | $12230 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12104 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13130 | $12591 | $12669 | $12065 |
| **12/31/2020** | $13945 | $13029 | $13115 | $12626 |
| **1/31/2021** | $14328 | $13165 | $13255 | $12568 |
| **2/28/2021** | $14243 | $12796 | $12886 | $12859 |
| **3/31/2021** | $13704 | $13086 | $13195 | $13203 |
| **4/30/2021** | $14377 | $13609 | $13725 | $13780 |
| **5/31/2021** | $13924 | $13911 | $14038 | $13995 |
| **6/30/2021** | $14682 | $14313 | $14447 | $14179 |
| **7/31/2021** | $14944 | $14736 | $14878 | $14277 |
| **8/31/2021** | $15547 | $15119 | $15268 | $14634 |
| **9/30/2021** | $14739 | $14346 | $14492 | $14030 |
| **10/31/2021** | $15561 | $14869 | $15023 | $14746 |
| **11/30/2021** | $14301 | $14342 | $14494 | $14390 |
| **12/31/2021** | $15094 | $15310 | $15477 | $14966 |
| **1/31/2022** | $13240 | $14147 | $14306 | $14231 |
| **2/28/2022** | $13347 | $14082 | $14244 | $13863 |
| **3/31/2022** | $13927 | $14729 | $14915 | $14164 |
| **4/30/2022** | $12843 | $14029 | $14208 | $13030 |
| **5/31/2022** | $12675 | $14079 | $14268 | $13046 |
| **6/30/2022** | $12568 | $13660 | $13849 | $11946 |
| **7/31/2022** | $13232 | $14096 | $14296 | $12780 |
| **8/31/2022** | $12874 | $13264 | $13454 | $12309 |
| **9/30/2022** | $12217 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13026 | $13738 | $13943 | $11803 |
| **11/30/2022** | $13545 | $14529 | $14751 | $12718 |
| **12/31/2022** | $13278 | $14369 | $14593 | $12218 |
| **1/31/2023** | $13400 | $14306 | $14534 | $13094 |
| **2/28/2023** | $12980 | $13695 | $13916 | $12718 |
| **3/31/2023** | $13110 | $14123 | $14368 | $13110 |
| **4/30/2023** | $13881 | $14615 | $14872 | $13299 |
| **5/31/2023** | $13606 | $14015 | $14272 | $13156 |
| **6/30/2023** | $13873 | $14440 | $14709 | $13920 |
| **7/31/2023** | $13736 | $14652 | $14930 | $14430 |
| **8/31/2023** | $13408 | $14512 | $14791 | $14027 |
| **9/30/2023** | $12553 | $14052 | $14327 | $13446 |
| **10/31/2023** | $11752 | $13497 | $13765 | $13042 |
| **11/30/2023** | $12576 | $14271 | $14560 | $14246 |
| **12/31/2023** | $13667 | $14883 | $15189 | $14930 |
| **1/31/2024** | $13858 | $15227 | $15545 | $15018 |
| **2/29/2024** | $14507 | $15586 | $15915 | $15662 |
| **3/31/2024** | $14835 | $15933 | $16287 | $16154 |
| **4/30/2024** | $14056 | $15314 | $15659 | $15621 |
| **5/31/2024** | $14484 | $15684 | $16046 | $16255 |
| **6/30/2024** | $14919 | $15985 | $16359 | $16617 |
| **7/31/2024** | $15003 | $16533 | $16925 | $16886 |
| **8/31/2024** | $15850 | $17443 | $17861 | $17314 |
| **9/30/2024** | $15422 | $16979 | $17392 | $17716 |
| **10/31/2024** | $15102 | $16147 | $16543 | $17319 |
| **11/30/2024** | $15805 | $15986 | $16383 | $17967 |
| **12/31/2024** | $14664 | $15042 | $15422 | $17541 |
| **1/31/2025** | $15391 | $15967 | $16376 | $18130 |
| **2/28/2025** | $14947 | $16144 | $16560 | $18021 |
| **3/31/2025** | $13922 | $15787 | $16214 | $17309 |
| **4/30/2025** | $14067 | $15515 | $15939 | $17471 |
| **5/31/2025** | $13608 | $14974 | $15393 | $18475 |
| **6/30/2025** | $14159 | $15205 | $15636 | $19304 |
| **7/31/2025** | $13838 | $14828 | $15254 | $19566 |
| **8/31/2025** | $14947 | $15547 | $16000 | $20049 |
| **9/30/2025** | $15299 | $15705 | $16168 | $20776 |
| **10/31/2025** | $16402 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class A at NAV | 8.61% | 6.26% | 9.27% |
| Class A with sales charge | 2.35% | 5.01% | 8.24% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LHCAX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9126-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LHCCX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $185 | 1.78% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 7.86%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i6b6c5bbd5868bd9d667a1f10.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with load** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9753 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9280 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9633 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10447 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10760 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10580 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10113 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9520 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10667 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11500 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11540 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12027 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12500 | $12323 | $12390 | $11376 |
| **9/30/2020** | $12867 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12727 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13795 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14639 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15038 | $13165 | $13255 | $12568 |
| **2/28/2021** | $14940 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14360 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15060 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14578 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15361 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15617 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16242 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15384 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16235 | $14869 | $15023 | $14746 |
| **11/30/2021** | $14910 | $14342 | $14494 | $14390 |
| **12/31/2021** | $15723 | $15310 | $15477 | $14966 |
| **1/31/2022** | $13790 | $14147 | $14306 | $14231 |
| **2/28/2022** | $13895 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14480 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13351 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13164 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13051 | $13660 | $13849 | $11946 |
| **7/31/2022** | $13733 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13351 | $13264 | $13454 | $12309 |
| **9/30/2022** | $12661 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13489 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14025 | $14529 | $14751 | $12718 |
| **12/31/2022** | $13733 | $14369 | $14593 | $12218 |
| **1/31/2023** | $13847 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13408 | $13695 | $13916 | $12718 |
| **3/31/2023** | $13530 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14318 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14025 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14293 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14147 | $14652 | $14930 | $14430 |
| **8/31/2023** | $13798 | $14512 | $14791 | $14027 |
| **9/30/2023** | $12913 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12076 | $13497 | $13765 | $13042 |
| **11/30/2023** | $12921 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14033 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14220 | $15227 | $15545 | $15018 |
| **2/29/2024** | $14870 | $15586 | $15915 | $15662 |
| **3/31/2024** | $15203 | $15933 | $16287 | $16154 |
| **4/30/2024** | $14391 | $15314 | $15659 | $15621 |
| **5/31/2024** | $14821 | $15684 | $16046 | $16255 |
| **6/30/2024** | $15251 | $15985 | $16359 | $16617 |
| **7/31/2024** | $15333 | $16533 | $16925 | $16886 |
| **8/31/2024** | $16185 | $17443 | $17861 | $17314 |
| **9/30/2024** | $15747 | $16979 | $17392 | $17716 |
| **10/31/2024** | $15398 | $16147 | $16543 | $17319 |
| **11/30/2024** | $16112 | $15986 | $16383 | $17967 |
| **12/31/2024** | $14943 | $15042 | $15422 | $17541 |
| **1/31/2025** | $15674 | $15967 | $16376 | $18130 |
| **2/28/2025** | $15211 | $16144 | $16560 | $18021 |
| **3/31/2025** | $14155 | $15787 | $16214 | $17309 |
| **4/30/2025** | $14301 | $15515 | $15939 | $17471 |
| **5/31/2025** | $13822 | $14974 | $15393 | $18475 |
| **6/30/2025** | $14374 | $15205 | $15636 | $19304 |
| **7/31/2025** | $14033 | $14828 | $15254 | $19566 |
| **8/31/2025** | $15154 | $15547 | $16000 | $20049 |
| **9/30/2025** | $15495 | $15705 | $16168 | $20776 |
| **10/31/2025** | $16608 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class C at NAV | 7.86% | 5.47% | 8.45% |
| Class C with sales charge | 6.86% | 5.47% | 8.45% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LHCCX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9127-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LHCFX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $81 | 0.78% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.89%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iaad74de93bdc943a1abb829c.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9767 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9293 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9660 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10481 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10807 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10634 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10174 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9581 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10747 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11601 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11648 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12148 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12634 | $12323 | $12390 | $11376 |
| **9/30/2020** | $13014 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12881 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13976 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14849 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15262 | $13165 | $13255 | $12568 |
| **2/28/2021** | $15172 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14600 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15322 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14841 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15653 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15931 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16585 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15721 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16600 | $14869 | $15023 | $14746 |
| **11/30/2021** | $15263 | $14342 | $14494 | $14390 |
| **12/31/2021** | $16113 | $15310 | $15477 | $14966 |
| **1/31/2022** | $14138 | $14147 | $14306 | $14231 |
| **2/28/2022** | $14259 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14874 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13717 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13539 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13434 | $13660 | $13849 | $11946 |
| **7/31/2022** | $14146 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13766 | $13264 | $13454 | $12309 |
| **9/30/2022** | $13070 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13936 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14494 | $14529 | $14751 | $12718 |
| **12/31/2022** | $14211 | $14369 | $14593 | $12218 |
| **1/31/2023** | $14340 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13895 | $13695 | $13916 | $12718 |
| **3/31/2023** | $14033 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14866 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14575 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14866 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14721 | $14652 | $14930 | $14430 |
| **8/31/2023** | $14373 | $14512 | $14791 | $14027 |
| **9/30/2023** | $13458 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12600 | $13497 | $13765 | $13042 |
| **11/30/2023** | $13491 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14664 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14874 | $15227 | $15545 | $15018 |
| **2/29/2024** | $15570 | $15586 | $15915 | $15662 |
| **3/31/2024** | $15926 | $15933 | $16287 | $16154 |
| **4/30/2024** | $15085 | $15314 | $15659 | $15621 |
| **5/31/2024** | $15554 | $15684 | $16046 | $16255 |
| **6/30/2024** | $16024 | $15985 | $16359 | $16617 |
| **7/31/2024** | $16113 | $16533 | $16925 | $16886 |
| **8/31/2024** | $17027 | $17443 | $17861 | $17314 |
| **9/30/2024** | $16582 | $16979 | $17392 | $17716 |
| **10/31/2024** | $16234 | $16147 | $16543 | $17319 |
| **11/30/2024** | $16994 | $15986 | $16383 | $17967 |
| **12/31/2024** | $15767 | $15042 | $15422 | $17541 |
| **1/31/2025** | $16555 | $15967 | $16376 | $18130 |
| **2/28/2025** | $16084 | $16144 | $16560 | $18021 |
| **3/31/2025** | $14978 | $15787 | $16214 | $17309 |
| **4/30/2025** | $15141 | $15515 | $15939 | $17471 |
| **5/31/2025** | $14645 | $14974 | $15393 | $18475 |
| **6/30/2025** | $15246 | $15205 | $15636 | $19304 |
| **7/31/2025** | $14905 | $14828 | $15254 | $19566 |
| **8/31/2025** | $16100 | $15547 | $16000 | $20049 |
| **9/30/2025** | $16482 | $15705 | $16168 | $20776 |
| **10/31/2025** | $17676 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class F at NAV | 8.89% | 6.53% | 9.54% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LHCFX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9128-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LHCOX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $68 | 0.65% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.09%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iaf1d323db05de16b6f086dcb.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F3** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9767 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9293 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9660 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10487 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10807 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10641 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10180 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9586 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10754 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11608 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11655 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12155 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12642 | $12323 | $12390 | $11376 |
| **9/30/2020** | $13022 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12895 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13995 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14861 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15275 | $13165 | $13255 | $12568 |
| **2/28/2021** | $15192 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14620 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15335 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14861 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15674 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15953 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16608 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15742 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16623 | $14869 | $15023 | $14746 |
| **11/30/2021** | $15283 | $14342 | $14494 | $14390 |
| **12/31/2021** | $16135 | $15310 | $15477 | $14966 |
| **1/31/2022** | $14156 | $14147 | $14306 | $14231 |
| **2/28/2022** | $14286 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14902 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13743 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13573 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13459 | $13660 | $13849 | $11946 |
| **7/31/2022** | $14181 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13800 | $13264 | $13454 | $12309 |
| **9/30/2022** | $13102 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13970 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14536 | $14529 | $14751 | $12718 |
| **12/31/2022** | $14252 | $14369 | $14593 | $12218 |
| **1/31/2023** | $14382 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13935 | $13695 | $13916 | $12718 |
| **3/31/2023** | $14081 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14910 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14626 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14918 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14780 | $14652 | $14930 | $14430 |
| **8/31/2023** | $14423 | $14512 | $14791 | $14027 |
| **9/30/2023** | $13512 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12650 | $13497 | $13765 | $13042 |
| **11/30/2023** | $13545 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14731 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14943 | $15227 | $15545 | $15018 |
| **2/29/2024** | $15642 | $15586 | $15915 | $15662 |
| **3/31/2024** | $16008 | $15933 | $16287 | $16154 |
| **4/30/2024** | $15162 | $15314 | $15659 | $15621 |
| **5/31/2024** | $15634 | $15684 | $16046 | $16255 |
| **6/30/2024** | $16105 | $15985 | $16359 | $16617 |
| **7/31/2024** | $16203 | $16533 | $16925 | $16886 |
| **8/31/2024** | $17122 | $17443 | $17861 | $17314 |
| **9/30/2024** | $16675 | $16979 | $17392 | $17716 |
| **10/31/2024** | $16325 | $16147 | $16543 | $17319 |
| **11/30/2024** | $17098 | $15986 | $16383 | $17967 |
| **12/31/2024** | $15872 | $15042 | $15422 | $17541 |
| **1/31/2025** | $16665 | $15967 | $16376 | $18130 |
| **2/28/2025** | $16182 | $16144 | $16560 | $18021 |
| **3/31/2025** | $15079 | $15787 | $16214 | $17309 |
| **4/30/2025** | $15242 | $15515 | $15939 | $17471 |
| **5/31/2025** | $14744 | $14974 | $15393 | $18475 |
| **6/30/2025** | $15349 | $15205 | $15636 | $19304 |
| **7/31/2025** | $15005 | $14828 | $15254 | $19566 |
| **8/31/2025** | $16215 | $15547 | $16000 | $20049 |
| **9/30/2025** | $16599 | $15705 | $16168 | $20776 |
| **10/31/2025** | $17809 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class F3 at NAV | 9.09% | 6.67% | 9.67% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

Expenses: As of March 1, 2025, the expense limitation on total net annual operating expenses increased from 0.60% to 0.68% as part of the annual review of transfer agency expenses.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LHCOX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9130-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LHCIX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $81 | 0.78% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.92%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9a608eb9073699570e71d7df.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9767 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9293 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9660 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10485 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10805 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10632 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10172 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9585 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10745 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11599 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11646 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12146 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12639 | $12323 | $12390 | $11376 |
| **9/30/2020** | $13013 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12886 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13975 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14848 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15262 | $13165 | $13255 | $12568 |
| **2/28/2021** | $15171 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14600 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15322 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14840 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15653 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15931 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16586 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15721 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16601 | $14869 | $15023 | $14746 |
| **11/30/2021** | $15255 | $14342 | $14494 | $14390 |
| **12/31/2021** | $16105 | $15310 | $15477 | $14966 |
| **1/31/2022** | $14138 | $14147 | $14306 | $14231 |
| **2/28/2022** | $14259 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14874 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13716 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13538 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13433 | $13660 | $13849 | $11946 |
| **7/31/2022** | $14146 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13765 | $13264 | $13454 | $12309 |
| **9/30/2022** | $13069 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13935 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14498 | $14529 | $14751 | $12718 |
| **12/31/2022** | $14206 | $14369 | $14593 | $12218 |
| **1/31/2023** | $14344 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13898 | $13695 | $13916 | $12718 |
| **3/31/2023** | $14035 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14862 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14571 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14871 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14725 | $14652 | $14930 | $14430 |
| **8/31/2023** | $14368 | $14512 | $14791 | $14027 |
| **9/30/2023** | $13460 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12600 | $13497 | $13765 | $13042 |
| **11/30/2023** | $13492 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14660 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14871 | $15227 | $15545 | $15018 |
| **2/29/2024** | $15568 | $15586 | $15915 | $15662 |
| **3/31/2024** | $15925 | $15933 | $16287 | $16154 |
| **4/30/2024** | $15089 | $15314 | $15659 | $15621 |
| **5/31/2024** | $15552 | $15684 | $16046 | $16255 |
| **6/30/2024** | $16022 | $15985 | $16359 | $16617 |
| **7/31/2024** | $16111 | $16533 | $16925 | $16886 |
| **8/31/2024** | $17027 | $17443 | $17861 | $17314 |
| **9/30/2024** | $16581 | $16979 | $17392 | $17716 |
| **10/31/2024** | $16233 | $16147 | $16543 | $17319 |
| **11/30/2024** | $16995 | $15986 | $16383 | $17967 |
| **12/31/2024** | $15773 | $15042 | $15422 | $17541 |
| **1/31/2025** | $16555 | $15967 | $16376 | $18130 |
| **2/28/2025** | $16083 | $16144 | $16560 | $18021 |
| **3/31/2025** | $14982 | $15787 | $16214 | $17309 |
| **4/30/2025** | $15145 | $15515 | $15939 | $17471 |
| **5/31/2025** | $14648 | $14974 | $15393 | $18475 |
| **6/30/2025** | $15243 | $15205 | $15636 | $19304 |
| **7/31/2025** | $14901 | $14828 | $15254 | $19566 |
| **8/31/2025** | $16099 | $15547 | $16000 | $20049 |
| **9/30/2025** | $16482 | $15705 | $16168 | $20776 |
| **10/31/2025** | $17680 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class I at NAV | 8.92% | 6.53% | 9.54% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LHCIX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9129-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LHCQX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $133 | 1.28% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.39%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i873cc1753e911398fef252f1.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R3** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9760 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9287 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9647 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10467 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10780 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10607 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10140 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9553 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10707 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11553 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11593 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12087 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12567 | $12323 | $12390 | $11376 |
| **9/30/2020** | $12940 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12807 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13889 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14747 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15146 | $13165 | $13255 | $12568 |
| **2/28/2021** | $15055 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14483 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15191 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14709 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15507 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15778 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16410 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15552 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16417 | $14869 | $15023 | $14746 |
| **11/30/2021** | $15078 | $14342 | $14494 | $14390 |
| **12/31/2021** | $15913 | $15310 | $15477 | $14966 |
| **1/31/2022** | $13960 | $14147 | $14306 | $14231 |
| **2/28/2022** | $14073 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14673 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13530 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13352 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13238 | $13660 | $13849 | $11946 |
| **7/31/2022** | $13935 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13554 | $13264 | $13454 | $12309 |
| **9/30/2022** | $12865 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13708 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14260 | $14529 | $14751 | $12718 |
| **12/31/2022** | $13968 | $14369 | $14593 | $12218 |
| **1/31/2023** | $14089 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13652 | $13695 | $13916 | $12718 |
| **3/31/2023** | $13781 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14592 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14300 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14584 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14438 | $14652 | $14930 | $14430 |
| **8/31/2023** | $14081 | $14512 | $14791 | $14027 |
| **9/30/2023** | $13181 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12338 | $13497 | $13765 | $13042 |
| **11/30/2023** | $13206 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14349 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14543 | $15227 | $15545 | $15018 |
| **2/29/2024** | $15216 | $15586 | $15915 | $15662 |
| **3/31/2024** | $15565 | $15933 | $16287 | $16154 |
| **4/30/2024** | $14738 | $15314 | $15659 | $15621 |
| **5/31/2024** | $15184 | $15684 | $16046 | $16255 |
| **6/30/2024** | $15638 | $15985 | $16359 | $16617 |
| **7/31/2024** | $15719 | $16533 | $16925 | $16886 |
| **8/31/2024** | $16602 | $17443 | $17861 | $17314 |
| **9/30/2024** | $16165 | $16979 | $17392 | $17716 |
| **10/31/2024** | $15816 | $16147 | $16543 | $17319 |
| **11/30/2024** | $16550 | $15986 | $16383 | $17967 |
| **12/31/2024** | $15354 | $15042 | $15422 | $17541 |
| **1/31/2025** | $16111 | $15967 | $16376 | $18130 |
| **2/28/2025** | $15639 | $16144 | $16560 | $18021 |
| **3/31/2025** | $14566 | $15787 | $16214 | $17309 |
| **4/30/2025** | $14720 | $15515 | $15939 | $17471 |
| **5/31/2025** | $14232 | $14974 | $15393 | $18475 |
| **6/30/2025** | $14810 | $15205 | $15636 | $19304 |
| **7/31/2025** | $14468 | $14828 | $15254 | $19566 |
| **8/31/2025** | $15623 | $15547 | $16000 | $20049 |
| **9/30/2025** | $15989 | $15705 | $16168 | $20776 |
| **10/31/2025** | $17144 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R3 at NAV | 8.39% | 6.01% | 9.00% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LHCQX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9132-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LHCSX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $107 | 1.03% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.67%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i81eebb0b2c4b6e2a705bc51f.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R4** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9760 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9293 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9653 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10473 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10793 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10620 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10160 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9567 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10727 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11573 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11620 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12120 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12607 | $12323 | $12390 | $11376 |
| **9/30/2020** | $12980 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12847 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13936 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14800 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15207 | $13165 | $13255 | $12568 |
| **2/28/2021** | $15116 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14545 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15252 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14778 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15583 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15853 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16500 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15635 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16508 | $14869 | $15023 | $14746 |
| **11/30/2021** | $15170 | $14342 | $14494 | $14390 |
| **12/31/2021** | $16012 | $15310 | $15477 | $14966 |
| **1/31/2022** | $14044 | $14147 | $14306 | $14231 |
| **2/28/2022** | $14165 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14773 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13623 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13444 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13339 | $13660 | $13849 | $11946 |
| **7/31/2022** | $14044 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13663 | $13264 | $13454 | $12309 |
| **9/30/2022** | $12967 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13825 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14376 | $14529 | $14751 | $12718 |
| **12/31/2022** | $14084 | $14369 | $14593 | $12218 |
| **1/31/2023** | $14214 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13768 | $13695 | $13916 | $12718 |
| **3/31/2023** | $13906 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14724 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14433 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14724 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14578 | $14652 | $14930 | $14430 |
| **8/31/2023** | $14222 | $14512 | $14791 | $14027 |
| **9/30/2023** | $13323 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12465 | $13497 | $13765 | $13042 |
| **11/30/2023** | $13347 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14505 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14708 | $15227 | $15545 | $15018 |
| **2/29/2024** | $15388 | $15586 | $15915 | $15662 |
| **3/31/2024** | $15745 | $15933 | $16287 | $16154 |
| **4/30/2024** | $14910 | $15314 | $15659 | $15621 |
| **5/31/2024** | $15364 | $15684 | $16046 | $16255 |
| **6/30/2024** | $15826 | $15985 | $16359 | $16617 |
| **7/31/2024** | $15915 | $16533 | $16925 | $16886 |
| **8/31/2024** | $16814 | $17443 | $17861 | $17314 |
| **9/30/2024** | $16368 | $16979 | $17392 | $17716 |
| **10/31/2024** | $16020 | $16147 | $16543 | $17319 |
| **11/30/2024** | $16767 | $15986 | $16383 | $17967 |
| **12/31/2024** | $15556 | $15042 | $15422 | $17541 |
| **1/31/2025** | $16336 | $15967 | $16376 | $18130 |
| **2/28/2025** | $15857 | $16144 | $16560 | $18021 |
| **3/31/2025** | $14768 | $15787 | $16214 | $17309 |
| **4/30/2025** | $14931 | $15515 | $15939 | $17471 |
| **5/31/2025** | $14435 | $14974 | $15393 | $18475 |
| **6/30/2025** | $15020 | $15205 | $15636 | $19304 |
| **7/31/2025** | $14679 | $14828 | $15254 | $19566 |
| **8/31/2025** | $15857 | $15547 | $16000 | $20049 |
| **9/30/2025** | $16231 | $15705 | $16168 | $20776 |
| **10/31/2025** | $17408 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R4 at NAV | 8.67% | 6.27% | 9.27% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LHCSX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9133-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LHCTX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $81 | 0.78% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 8.92%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i70b61a4423792cb5be3babe1.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R5** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9767 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9293 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9660 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10485 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10805 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10631 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10171 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9584 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10745 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11599 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11645 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12145 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12639 | $12323 | $12390 | $11376 |
| **9/30/2020** | $13019 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12886 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13979 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14852 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15258 | $13165 | $13255 | $12568 |
| **2/28/2021** | $15176 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14604 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15319 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14845 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15657 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15936 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16583 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15725 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16605 | $14869 | $15023 | $14746 |
| **11/30/2021** | $15259 | $14342 | $14494 | $14390 |
| **12/31/2021** | $16110 | $15310 | $15477 | $14966 |
| **1/31/2022** | $14133 | $14147 | $14306 | $14231 |
| **2/28/2022** | $14255 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14870 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13720 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13542 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13437 | $13660 | $13849 | $11946 |
| **7/31/2022** | $14150 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13769 | $13264 | $13454 | $12309 |
| **9/30/2022** | $13072 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13939 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14493 | $14529 | $14751 | $12718 |
| **12/31/2022** | $14209 | $14369 | $14593 | $12218 |
| **1/31/2023** | $14339 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13893 | $13695 | $13916 | $12718 |
| **3/31/2023** | $14039 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14866 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14574 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14866 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14728 | $14652 | $14930 | $14430 |
| **8/31/2023** | $14371 | $14512 | $14791 | $14027 |
| **9/30/2023** | $13463 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12603 | $13497 | $13765 | $13042 |
| **11/30/2023** | $13496 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14663 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14874 | $15227 | $15545 | $15018 |
| **2/29/2024** | $15572 | $15586 | $15915 | $15662 |
| **3/31/2024** | $15929 | $15933 | $16287 | $16154 |
| **4/30/2024** | $15093 | $15314 | $15659 | $15621 |
| **5/31/2024** | $15556 | $15684 | $16046 | $16255 |
| **6/30/2024** | $16026 | $15985 | $16359 | $16617 |
| **7/31/2024** | $16115 | $16533 | $16925 | $16886 |
| **8/31/2024** | $17032 | $17443 | $17861 | $17314 |
| **9/30/2024** | $16577 | $16979 | $17392 | $17716 |
| **10/31/2024** | $16237 | $16147 | $16543 | $17319 |
| **11/30/2024** | $17000 | $15986 | $16383 | $17967 |
| **12/31/2024** | $15769 | $15042 | $15422 | $17541 |
| **1/31/2025** | $16560 | $15967 | $16376 | $18130 |
| **2/28/2025** | $16087 | $16144 | $16560 | $18021 |
| **3/31/2025** | $14986 | $15787 | $16214 | $17309 |
| **4/30/2025** | $15149 | $15515 | $15939 | $17471 |
| **5/31/2025** | $14652 | $14974 | $15393 | $18475 |
| **6/30/2025** | $15247 | $15205 | $15636 | $19304 |
| **7/31/2025** | $14904 | $14828 | $15254 | $19566 |
| **8/31/2025** | $16103 | $15547 | $16000 | $20049 |
| **9/30/2025** | $16486 | $15705 | $16168 | $20776 |
| **10/31/2025** | $17685 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R5 at NAV | 8.92% | 6.54% | 9.55% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LHCTX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9134-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LHCVX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Health Care Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $68 | 0.65% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 9.08%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 0.06% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI ACWI Health Care Index with Net Dividends. The Fund's broad-based securities market index, the MSCI ACWI Net Index, returned 22.64% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Biotechnology industry contributed to relative performance, led by an overweight allocation to Insmed, Inc. Security selection within the Health Care Providers & Services industry also contributed to relative performance, led by an overweight allocation to Guardant Health, Inc.

**Top detractors from performance:** Security selection within the Health Care Equipment & Supplies industry detracted from relative performance, led by an overweight allocation to PROCEPT BioRobotics Corp. Security selection within the Life Sciences Tools & Services industry also detracted from relative performance, led by an overweight allocation to Repligen Corp.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i3494275d2a6d38662fa7d41e.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **MSCI ACWI Health Care Index with Net Dividends** | **MSCI ACWI Health Care Index with Gross Dividends** | **MSCI ACWI Net Index** |
| **7/31/2019** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2019** | $9767 | $9994 | $9998 | $9763 |
| **9/30/2019** | $9293 | $9974 | $9981 | $9968 |
| **10/31/2019** | $9660 | $10491 | $10501 | $10241 |
| **11/30/2019** | $10487 | $10959 | $10974 | $10491 |
| **12/31/2019** | $10807 | $11343 | $11361 | $10860 |
| **1/31/2020** | $10641 | $11182 | $11203 | $10741 |
| **2/29/2020** | $10180 | $10436 | $10459 | $9873 |
| **3/31/2020** | $9586 | $10050 | $10086 | $8540 |
| **4/30/2020** | $10754 | $11219 | $11264 | $9455 |
| **5/31/2020** | $11608 | $11677 | $11730 | $9866 |
| **6/30/2020** | $11655 | $11591 | $11647 | $10181 |
| **7/31/2020** | $12162 | $12084 | $12146 | $10720 |
| **8/31/2020** | $12649 | $12323 | $12390 | $11376 |
| **9/30/2020** | $13029 | $12130 | $12200 | $11009 |
| **10/31/2020** | $12902 | $11565 | $11634 | $10741 |
| **11/30/2020** | $13994 | $12591 | $12669 | $12065 |
| **12/31/2020** | $14867 | $13029 | $13115 | $12626 |
| **1/31/2021** | $15282 | $13165 | $13255 | $12568 |
| **2/28/2021** | $15191 | $12796 | $12886 | $12859 |
| **3/31/2021** | $14626 | $13086 | $13195 | $13203 |
| **4/30/2021** | $15342 | $13609 | $13725 | $13780 |
| **5/31/2021** | $14867 | $13911 | $14038 | $13995 |
| **6/30/2021** | $15681 | $14313 | $14447 | $14179 |
| **7/31/2021** | $15959 | $14736 | $14878 | $14277 |
| **8/31/2021** | $16615 | $15119 | $15268 | $14634 |
| **9/30/2021** | $15749 | $14346 | $14492 | $14030 |
| **10/31/2021** | $16630 | $14869 | $15023 | $14746 |
| **11/30/2021** | $15290 | $14342 | $14494 | $14390 |
| **12/31/2021** | $16141 | $15310 | $15477 | $14966 |
| **1/31/2022** | $14163 | $14147 | $14306 | $14231 |
| **2/28/2022** | $14285 | $14082 | $14244 | $13863 |
| **3/31/2022** | $14909 | $14729 | $14915 | $14164 |
| **4/30/2022** | $13750 | $14029 | $14208 | $13030 |
| **5/31/2022** | $13571 | $14079 | $14268 | $13046 |
| **6/30/2022** | $13466 | $13660 | $13849 | $11946 |
| **7/31/2022** | $14187 | $14096 | $14296 | $12780 |
| **8/31/2022** | $13806 | $13264 | $13454 | $12309 |
| **9/30/2022** | $13109 | $12700 | $12887 | $11131 |
| **10/31/2022** | $13977 | $13738 | $13943 | $11803 |
| **11/30/2022** | $14543 | $14529 | $14751 | $12718 |
| **12/31/2022** | $14250 | $14369 | $14593 | $12218 |
| **1/31/2023** | $14389 | $14306 | $14534 | $13094 |
| **2/28/2023** | $13941 | $13695 | $13916 | $12718 |
| **3/31/2023** | $14088 | $14123 | $14368 | $13110 |
| **4/30/2023** | $14917 | $14615 | $14872 | $13299 |
| **5/31/2023** | $14632 | $14015 | $14272 | $13156 |
| **6/30/2023** | $14925 | $14440 | $14709 | $13920 |
| **7/31/2023** | $14787 | $14652 | $14930 | $14430 |
| **8/31/2023** | $14429 | $14512 | $14791 | $14027 |
| **9/30/2023** | $13519 | $14052 | $14327 | $13446 |
| **10/31/2023** | $12657 | $13497 | $13765 | $13042 |
| **11/30/2023** | $13551 | $14271 | $14560 | $14246 |
| **12/31/2023** | $14738 | $14883 | $15189 | $14930 |
| **1/31/2024** | $14949 | $15227 | $15545 | $15018 |
| **2/29/2024** | $15649 | $15586 | $15915 | $15662 |
| **3/31/2024** | $16014 | $15933 | $16287 | $16154 |
| **4/30/2024** | $15169 | $15314 | $15659 | $15621 |
| **5/31/2024** | $15640 | $15684 | $16046 | $16255 |
| **6/30/2024** | $16112 | $15985 | $16359 | $16617 |
| **7/31/2024** | $16209 | $16533 | $16925 | $16886 |
| **8/31/2024** | $17128 | $17443 | $17861 | $17314 |
| **9/30/2024** | $16681 | $16979 | $17392 | $17716 |
| **10/31/2024** | $16331 | $16147 | $16543 | $17319 |
| **11/30/2024** | $17104 | $15986 | $16383 | $17967 |
| **12/31/2024** | $15878 | $15042 | $15422 | $17541 |
| **1/31/2025** | $16671 | $15967 | $16376 | $18130 |
| **2/28/2025** | $16197 | $16144 | $16560 | $18021 |
| **3/31/2025** | $15086 | $15787 | $16214 | $17309 |
| **4/30/2025** | $15249 | $15515 | $15939 | $17471 |
| **5/31/2025** | $14751 | $14974 | $15393 | $18475 |
| **6/30/2025** | $15355 | $15205 | $15636 | $19304 |
| **7/31/2025** | $15012 | $14828 | $15254 | $19566 |
| **8/31/2025** | $16222 | $15547 | $16000 | $20049 |
| **9/30/2025** | $16606 | $15705 | $16168 | $20776 |
| **10/31/2025** | $17815 | $16156 | $16636 | $21241 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 7/31/19 |
| Class R6 at NAV | 9.08% | 6.67% | 9.68% |
| MSCI ACWI Health Care Index with Net Dividends | 0.06% | 6.91% | 7.97% |
| MSCI ACWI Health Care Index with Gross Dividends | 0.56% | 7.42% | 8.48% |
| MSCI ACWI Net Index | 22.64% | 14.61% | 12.81% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $8451945 |
| # of Portfolio Holdings | 66 |
| Portfolio Turnover Rate | 91% |
| Total Advisory Fees Paid | $0 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Industry** | **% <sup>Footnote Reference\*</sup>** |
| Biotechnology | 40.41% |
| Health Care Equipment & Supplies | 16.74% |
| Health Care Providers & Services | 11.99% |
| Health Care Technology | 4.06% |
| Life Sciences Tools & Services | 4.18% |
| Pharmaceuticals | 20.60% |
| Repurchase Agreements | 2.02% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

Expenses: As of March 1, 2025, the expense limitation on total net annual operating expenses increased from 0.60% to 0.68% as part of the annual review of transfer agency expenses.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LHCVX

# Lord Abbett Health Care Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9135-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LAIEX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $136 | 1.25% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.34%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i78cc0beb79ba5be4d8687734.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A with load** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $9424 | $10000 | $10000 |
| **11/30/2015** | $9485 | $9953 | $9844 |
| **12/31/2015** | $9452 | $9964 | $9712 |
| **1/31/2016** | $8741 | $9234 | $9009 |
| **2/29/2016** | $8556 | $9222 | $8844 |
| **3/31/2016** | $9336 | $10017 | $9420 |
| **4/30/2016** | $9383 | $10317 | $9693 |
| **5/31/2016** | $9498 | $10305 | $9605 |
| **6/30/2016** | $8937 | $9887 | $9282 |
| **7/31/2016** | $9406 | $10469 | $9753 |
| **8/31/2016** | $9371 | $10399 | $9760 |
| **9/30/2016** | $9591 | $10675 | $9879 |
| **10/31/2016** | $9331 | $10333 | $9677 |
| **11/30/2016** | $9007 | $10066 | $9485 |
| **12/31/2016** | $9130 | $10342 | $9809 |
| **1/31/2017** | $9520 | $10698 | $10093 |
| **2/28/2017** | $9637 | $10912 | $10238 |
| **3/31/2017** | $10033 | $11146 | $10520 |
| **4/30/2017** | $10540 | $11523 | $10787 |
| **5/31/2017** | $10913 | $11985 | $11183 |
| **6/30/2017** | $10977 | $12044 | $11163 |
| **7/31/2017** | $11443 | $12449 | $11485 |
| **8/31/2017** | $11635 | $12544 | $11481 |
| **9/30/2017** | $11903 | $12884 | $11767 |
| **10/31/2017** | $12165 | $13057 | $11945 |
| **11/30/2017** | $12363 | $13293 | $12071 |
| **12/31/2017** | $12597 | $13689 | $12265 |
| **1/31/2018** | $13267 | $14352 | $12880 |
| **2/28/2018** | $12469 | $13748 | $12298 |
| **3/31/2018** | $12384 | $13572 | $12077 |
| **4/30/2018** | $12317 | $13761 | $12352 |
| **5/31/2018** | $12085 | $13695 | $12075 |
| **6/30/2018** | $11854 | $13421 | $11927 |
| **7/31/2018** | $11726 | $13507 | $12221 |
| **8/31/2018** | $11519 | $13491 | $11985 |
| **9/30/2018** | $11428 | $13385 | $12089 |
| **10/31/2018** | $10253 | $12051 | $11127 |
| **11/30/2018** | $10235 | $11949 | $11113 |
| **12/31/2018** | $9606 | $11169 | $10573 |
| **1/31/2019** | $10380 | $12076 | $11268 |
| **2/28/2019** | $10476 | $12389 | $11555 |
| **3/31/2019** | $10524 | $12328 | $11628 |
| **4/30/2019** | $10784 | $12691 | $11955 |
| **5/31/2019** | $10243 | $12064 | $11381 |
| **6/30/2019** | $10791 | $12651 | $12056 |
| **7/31/2019** | $10558 | $12529 | $11903 |
| **8/31/2019** | $10359 | $12202 | $11595 |
| **9/30/2019** | $10592 | $12460 | $11927 |
| **10/31/2019** | $10976 | $13004 | $12356 |
| **11/30/2019** | $11099 | $13282 | $12495 |
| **12/31/2019** | $11647 | $13922 | $12901 |
| **1/31/2020** | $11182 | $13484 | $12631 |
| **2/29/2020** | $10364 | $12150 | $11490 |
| **3/31/2020** | $8414 | $9931 | $9956 |
| **4/30/2020** | $9330 | $11112 | $10599 |
| **5/31/2020** | $9913 | $11880 | $11061 |
| **6/30/2020** | $10204 | $12177 | $11437 |
| **7/31/2020** | $10766 | $12816 | $11704 |
| **8/31/2020** | $11342 | $13696 | $12306 |
| **9/30/2020** | $11168 | $13459 | $11986 |
| **10/31/2020** | $10884 | $12987 | $11507 |
| **11/30/2020** | $12410 | $14928 | $13291 |
| **12/31/2020** | $13312 | $15909 | $13909 |
| **1/31/2021** | $13117 | $15864 | $13761 |
| **2/28/2021** | $13534 | $16306 | $14070 |
| **3/31/2021** | $13672 | $16577 | $14393 |
| **4/30/2021** | $14422 | $17298 | $14826 |
| **5/31/2021** | $14741 | $17731 | $15310 |
| **6/30/2021** | $14671 | $17555 | $15137 |
| **7/31/2021** | $14872 | $17678 | $15251 |
| **8/31/2021** | $15275 | $18118 | $15520 |
| **9/30/2021** | $14637 | $17488 | $15070 |
| **10/31/2021** | $14817 | $17778 | $15441 |
| **11/30/2021** | $14033 | $16662 | $14722 |
| **12/31/2021** | $14580 | $17431 | $15476 |
| **1/31/2022** | $13742 | $16124 | $14728 |
| **2/28/2022** | $13372 | $15964 | $14468 |
| **3/31/2022** | $13159 | $16024 | $14561 |
| **4/30/2022** | $12328 | $14890 | $13619 |
| **5/31/2022** | $12484 | $14884 | $13721 |
| **6/30/2022** | $11298 | $13179 | $12448 |
| **7/31/2022** | $11944 | $14019 | $13068 |
| **8/31/2022** | $11170 | $13383 | $12447 |
| **9/30/2022** | $9983 | $11771 | $11283 |
| **10/31/2022** | $10516 | $12335 | $11889 |
| **11/30/2022** | $11788 | $13604 | $13229 |
| **12/31/2022** | $11613 | $13698 | $13239 |
| **1/31/2023** | $12632 | $14889 | $14311 |
| **2/28/2023** | $12422 | $14559 | $14013 |
| **3/31/2023** | $12625 | $14598 | $14360 |
| **4/30/2023** | $12769 | $14806 | $14765 |
| **5/31/2023** | $12234 | $14158 | $14141 |
| **6/30/2023** | $12552 | $14643 | $14784 |
| **7/31/2023** | $13159 | $15377 | $15263 |
| **8/31/2023** | $12820 | $14811 | $14678 |
| **9/30/2023** | $12032 | $14102 | $14176 |
| **10/31/2023** | $11519 | $13257 | $13602 |
| **11/30/2023** | $12639 | $14607 | $14864 |
| **12/31/2023** | $13324 | $15626 | $15654 |
| **1/31/2024** | $13133 | $15263 | $15744 |
| **2/29/2024** | $13302 | $15310 | $16032 |
| **3/31/2024** | $13749 | $15964 | $16559 |
| **4/30/2024** | $13229 | $15547 | $16135 |
| **5/31/2024** | $13860 | $16316 | $16760 |
| **6/30/2024** | $13471 | $15840 | $16490 |
| **7/31/2024** | $14212 | $16507 | $16974 |
| **8/31/2024** | $14696 | $16760 | $17525 |
| **9/30/2024** | $14931 | $17216 | $17687 |
| **10/31/2024** | $13911 | $16208 | $16725 |
| **11/30/2024** | $13896 | $16118 | $16631 |
| **12/31/2024** | $13355 | $15687 | $16252 |
| **1/31/2025** | $13610 | $16209 | $17106 |
| **2/28/2025** | $13699 | $16212 | $17438 |
| **3/31/2025** | $13946 | $16206 | $17368 |
| **4/30/2025** | $14768 | $17168 | $18163 |
| **5/31/2025** | $15799 | $18223 | $18994 |
| **6/30/2025** | $16390 | $19082 | $19413 |
| **7/31/2025** | $15949 | $19194 | $19140 |
| **8/31/2025** | $16472 | $19946 | $19956 |
| **9/30/2025** | $16734 | $20431 | $20338 |
| **10/31/2025** | $16323 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | 17.34% | 8.44% | 5.65% |
| Class A with sales charge | 10.57% | 7.16% | 5.02% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LAIEX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-263-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LINCX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $216 | 2.00% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 16.43%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i0bda2d5368b563cb53598198.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C with load** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10057 | $9953 | $9844 |
| **12/31/2015** | $10015 | $9964 | $9712 |
| **1/31/2016** | $9257 | $9234 | $9009 |
| **2/29/2016** | $9054 | $9222 | $8844 |
| **3/31/2016** | $9878 | $10017 | $9420 |
| **4/30/2016** | $9917 | $10317 | $9693 |
| **5/31/2016** | $10041 | $10305 | $9605 |
| **6/30/2016** | $9440 | $9887 | $9282 |
| **7/31/2016** | $9930 | $10469 | $9753 |
| **8/31/2016** | $9884 | $10399 | $9760 |
| **9/30/2016** | $10106 | $10675 | $9879 |
| **10/31/2016** | $9825 | $10333 | $9677 |
| **11/30/2016** | $9479 | $10066 | $9485 |
| **12/31/2016** | $9603 | $10342 | $9809 |
| **1/31/2017** | $10008 | $10698 | $10093 |
| **2/28/2017** | $10126 | $10912 | $10238 |
| **3/31/2017** | $10538 | $11146 | $10520 |
| **4/30/2017** | $11061 | $11523 | $10787 |
| **5/31/2017** | $11447 | $11985 | $11183 |
| **6/30/2017** | $11505 | $12044 | $11163 |
| **7/31/2017** | $11989 | $12449 | $11485 |
| **8/31/2017** | $12179 | $12544 | $11481 |
| **9/30/2017** | $12453 | $12884 | $11767 |
| **10/31/2017** | $12721 | $13057 | $11945 |
| **11/30/2017** | $12917 | $13293 | $12071 |
| **12/31/2017** | $13152 | $13689 | $12265 |
| **1/31/2018** | $13847 | $14352 | $12880 |
| **2/28/2018** | $13008 | $13748 | $12298 |
| **3/31/2018** | $12913 | $13572 | $12077 |
| **4/30/2018** | $12831 | $13761 | $12352 |
| **5/31/2018** | $12586 | $13695 | $12075 |
| **6/30/2018** | $12333 | $13421 | $11927 |
| **7/31/2018** | $12190 | $13507 | $12221 |
| **8/31/2018** | $11965 | $13491 | $11985 |
| **9/30/2018** | $11870 | $13385 | $12089 |
| **10/31/2018** | $10643 | $12051 | $11127 |
| **11/30/2018** | $10615 | $11949 | $11113 |
| **12/31/2018** | $9960 | $11169 | $10573 |
| **1/31/2019** | $10748 | $12076 | $11268 |
| **2/28/2019** | $10839 | $12389 | $11555 |
| **3/31/2019** | $10893 | $12328 | $11628 |
| **4/30/2019** | $11153 | $12691 | $11955 |
| **5/31/2019** | $10579 | $12064 | $11381 |
| **6/30/2019** | $11145 | $12651 | $12056 |
| **7/31/2019** | $10901 | $12529 | $11903 |
| **8/31/2019** | $10686 | $12202 | $11595 |
| **9/30/2019** | $10924 | $12460 | $11927 |
| **10/31/2019** | $11306 | $13004 | $12356 |
| **11/30/2019** | $11421 | $13282 | $12495 |
| **12/31/2019** | $11982 | $13922 | $12901 |
| **1/31/2020** | $11498 | $13484 | $12631 |
| **2/29/2020** | $10645 | $12150 | $11490 |
| **3/31/2020** | $8647 | $9931 | $9956 |
| **4/30/2020** | $9576 | $11112 | $10599 |
| **5/31/2020** | $10168 | $11880 | $11061 |
| **6/30/2020** | $10453 | $12177 | $11437 |
| **7/31/2020** | $11029 | $12816 | $11704 |
| **8/31/2020** | $11613 | $13696 | $12306 |
| **9/30/2020** | $11421 | $13459 | $11986 |
| **10/31/2020** | $11121 | $12987 | $11507 |
| **11/30/2020** | $12682 | $14928 | $13291 |
| **12/31/2020** | $13588 | $15909 | $13909 |
| **1/31/2021** | $13381 | $15864 | $13761 |
| **2/28/2021** | $13796 | $16306 | $14070 |
| **3/31/2021** | $13934 | $16577 | $14393 |
| **4/30/2021** | $14688 | $17298 | $14826 |
| **5/31/2021** | $15010 | $17731 | $15310 |
| **6/30/2021** | $14926 | $17555 | $15137 |
| **7/31/2021** | $15126 | $17678 | $15251 |
| **8/31/2021** | $15518 | $18118 | $15520 |
| **9/30/2021** | $14864 | $17488 | $15070 |
| **10/31/2021** | $15041 | $17778 | $15441 |
| **11/30/2021** | $14234 | $16662 | $14722 |
| **12/31/2021** | $14777 | $17431 | $15476 |
| **1/31/2022** | $13924 | $16124 | $14728 |
| **2/28/2022** | $13533 | $15964 | $14468 |
| **3/31/2022** | $13314 | $16024 | $14561 |
| **4/30/2022** | $12461 | $14890 | $13619 |
| **5/31/2022** | $12618 | $14884 | $13721 |
| **6/30/2022** | $11405 | $13179 | $12448 |
| **7/31/2022** | $12054 | $14019 | $13068 |
| **8/31/2022** | $11264 | $13383 | $12447 |
| **9/30/2022** | $10060 | $11771 | $11283 |
| **10/31/2022** | $10592 | $12335 | $11889 |
| **11/30/2022** | $11867 | $13604 | $13229 |
| **12/31/2022** | $11685 | $13698 | $13239 |
| **1/31/2023** | $12695 | $14889 | $14311 |
| **2/28/2023** | $12474 | $14559 | $14013 |
| **3/31/2023** | $12679 | $14598 | $14360 |
| **4/30/2023** | $12813 | $14806 | $14765 |
| **5/31/2023** | $12269 | $14158 | $14141 |
| **6/30/2023** | $12577 | $14643 | $14784 |
| **7/31/2023** | $13184 | $15377 | $15263 |
| **8/31/2023** | $12829 | $14811 | $14678 |
| **9/30/2023** | $12040 | $14102 | $14176 |
| **10/31/2023** | $11519 | $13257 | $13602 |
| **11/30/2023** | $12624 | $14607 | $14864 |
| **12/31/2023** | $13302 | $15626 | $15654 |
| **1/31/2024** | $13103 | $15263 | $15744 |
| **2/29/2024** | $13262 | $15310 | $16032 |
| **3/31/2024** | $13699 | $15964 | $16559 |
| **4/30/2024** | $13175 | $15547 | $16135 |
| **5/31/2024** | $13786 | $16316 | $16760 |
| **6/30/2024** | $13397 | $15840 | $16490 |
| **7/31/2024** | $14128 | $16507 | $16974 |
| **8/31/2024** | $14597 | $16760 | $17525 |
| **9/30/2024** | $14819 | $17216 | $17687 |
| **10/31/2024** | $13802 | $16208 | $16725 |
| **11/30/2024** | $13779 | $16118 | $16631 |
| **12/31/2024** | $13228 | $15687 | $16252 |
| **1/31/2025** | $13477 | $16209 | $17106 |
| **2/28/2025** | $13557 | $16212 | $17438 |
| **3/31/2025** | $13790 | $16206 | $17368 |
| **4/30/2025** | $14601 | $17168 | $18163 |
| **5/31/2025** | $15604 | $18223 | $18994 |
| **6/30/2025** | $16182 | $19082 | $19413 |
| **7/31/2025** | $15732 | $19194 | $19140 |
| **8/31/2025** | $16238 | $19946 | $19956 |
| **9/30/2025** | $16495 | $20431 | $20338 |
| **10/31/2025** | $16069 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class C at NAV | 16.43% | 7.64% | 4.86% |
| Class C with sales charge | 15.43% | 7.64% | 4.86% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LINCX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-677-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LINFX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $120 | 1.10% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.54%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](idd07ff00743502f88a30a361.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10065 | $9953 | $9844 |
| **12/31/2015** | $10033 | $9964 | $9712 |
| **1/31/2016** | $9277 | $9234 | $9009 |
| **2/29/2016** | $9079 | $9222 | $8844 |
| **3/31/2016** | $9909 | $10017 | $9420 |
| **4/30/2016** | $9965 | $10317 | $9693 |
| **5/31/2016** | $10089 | $10305 | $9605 |
| **6/30/2016** | $9494 | $9887 | $9282 |
| **7/31/2016** | $9990 | $10469 | $9753 |
| **8/31/2016** | $9959 | $10399 | $9760 |
| **9/30/2016** | $10188 | $10675 | $9879 |
| **10/31/2016** | $9916 | $10333 | $9677 |
| **11/30/2016** | $9569 | $10066 | $9485 |
| **12/31/2016** | $9704 | $10342 | $9809 |
| **1/31/2017** | $10123 | $10698 | $10093 |
| **2/28/2017** | $10248 | $10912 | $10238 |
| **3/31/2017** | $10673 | $11146 | $10520 |
| **4/30/2017** | $11211 | $11523 | $10787 |
| **5/31/2017** | $11605 | $11985 | $11183 |
| **6/30/2017** | $11673 | $12044 | $11163 |
| **7/31/2017** | $12173 | $12449 | $11485 |
| **8/31/2017** | $12380 | $12544 | $11481 |
| **9/30/2017** | $12667 | $12884 | $11767 |
| **10/31/2017** | $12949 | $13057 | $11945 |
| **11/30/2017** | $13155 | $13293 | $12071 |
| **12/31/2017** | $13405 | $13689 | $12265 |
| **1/31/2018** | $14126 | $14352 | $12880 |
| **2/28/2018** | $13281 | $13748 | $12298 |
| **3/31/2018** | $13189 | $13572 | $12077 |
| **4/30/2018** | $13117 | $13761 | $12352 |
| **5/31/2018** | $12875 | $13695 | $12075 |
| **6/30/2018** | $12633 | $13421 | $11927 |
| **7/31/2018** | $12496 | $13507 | $12221 |
| **8/31/2018** | $12273 | $13491 | $11985 |
| **9/30/2018** | $12181 | $13385 | $12089 |
| **10/31/2018** | $10931 | $12051 | $11127 |
| **11/30/2018** | $10912 | $11949 | $11113 |
| **12/31/2018** | $10239 | $11169 | $10573 |
| **1/31/2019** | $11067 | $12076 | $11268 |
| **2/28/2019** | $11170 | $12389 | $11555 |
| **3/31/2019** | $11229 | $12328 | $11628 |
| **4/30/2019** | $11502 | $12691 | $11955 |
| **5/31/2019** | $10926 | $12064 | $11381 |
| **6/30/2019** | $11510 | $12651 | $12056 |
| **7/31/2019** | $11273 | $12529 | $11903 |
| **8/31/2019** | $11059 | $12202 | $11595 |
| **9/30/2019** | $11310 | $12460 | $11927 |
| **10/31/2019** | $11717 | $13004 | $12356 |
| **11/30/2019** | $11850 | $13282 | $12495 |
| **12/31/2019** | $12434 | $13922 | $12901 |
| **1/31/2020** | $11939 | $13484 | $12631 |
| **2/29/2020** | $11070 | $12150 | $11490 |
| **3/31/2020** | $8988 | $9931 | $9956 |
| **4/30/2020** | $9969 | $11112 | $10599 |
| **5/31/2020** | $10591 | $11880 | $11061 |
| **6/30/2020** | $10898 | $12177 | $11437 |
| **7/31/2020** | $11505 | $12816 | $11704 |
| **8/31/2020** | $12127 | $13696 | $12306 |
| **9/30/2020** | $11932 | $13459 | $11986 |
| **10/31/2020** | $11632 | $12987 | $11507 |
| **11/30/2020** | $13272 | $14928 | $13291 |
| **12/31/2020** | $14231 | $15909 | $13909 |
| **1/31/2021** | $14029 | $15864 | $13761 |
| **2/28/2021** | $14471 | $16306 | $14070 |
| **3/31/2021** | $14621 | $16577 | $14393 |
| **4/30/2021** | $15430 | $17298 | $14826 |
| **5/31/2021** | $15774 | $17731 | $15310 |
| **6/30/2021** | $15699 | $17555 | $15137 |
| **7/31/2021** | $15917 | $17678 | $15251 |
| **8/31/2021** | $16351 | $18118 | $15520 |
| **9/30/2021** | $15669 | $17488 | $15070 |
| **10/31/2021** | $15864 | $17778 | $15441 |
| **11/30/2021** | $15033 | $16662 | $14722 |
| **12/31/2021** | $15617 | $17431 | $15476 |
| **1/31/2022** | $14726 | $16124 | $14728 |
| **2/28/2022** | $14318 | $15964 | $14468 |
| **3/31/2022** | $14095 | $16024 | $14561 |
| **4/30/2022** | $13212 | $14890 | $13619 |
| **5/31/2022** | $13381 | $14884 | $13721 |
| **6/30/2022** | $12105 | $13179 | $12448 |
| **7/31/2022** | $12804 | $14019 | $13068 |
| **8/31/2022** | $11974 | $13383 | $12447 |
| **9/30/2022** | $10698 | $11771 | $11283 |
| **10/31/2022** | $11275 | $12335 | $11889 |
| **11/30/2022** | $12643 | $13604 | $13229 |
| **12/31/2022** | $12455 | $13698 | $13239 |
| **1/31/2023** | $13550 | $14889 | $14311 |
| **2/28/2023** | $13323 | $14559 | $14013 |
| **3/31/2023** | $13542 | $14598 | $14360 |
| **4/30/2023** | $13699 | $14806 | $14765 |
| **5/31/2023** | $13127 | $14158 | $14141 |
| **6/30/2023** | $13472 | $14643 | $14784 |
| **7/31/2023** | $14129 | $15377 | $15263 |
| **8/31/2023** | $13761 | $14811 | $14678 |
| **9/30/2023** | $12924 | $14102 | $14176 |
| **10/31/2023** | $12369 | $13257 | $13602 |
| **11/30/2023** | $13573 | $14607 | $14864 |
| **12/31/2023** | $14312 | $15626 | $15654 |
| **1/31/2024** | $14105 | $15263 | $15744 |
| **2/29/2024** | $14288 | $15310 | $16032 |
| **3/31/2024** | $14773 | $15964 | $16559 |
| **4/30/2024** | $14217 | $15547 | $16135 |
| **5/31/2024** | $14892 | $16316 | $16760 |
| **6/30/2024** | $14479 | $15840 | $16490 |
| **7/31/2024** | $15274 | $16507 | $16974 |
| **8/31/2024** | $15799 | $16760 | $17525 |
| **9/30/2024** | $16053 | $17216 | $17687 |
| **10/31/2024** | $14956 | $16208 | $16725 |
| **11/30/2024** | $14948 | $16118 | $16631 |
| **12/31/2024** | $14359 | $15687 | $16252 |
| **1/31/2025** | $14643 | $16209 | $17106 |
| **2/28/2025** | $14741 | $16212 | $17438 |
| **3/31/2025** | $15008 | $16206 | $17368 |
| **4/30/2025** | $15893 | $17168 | $18163 |
| **5/31/2025** | $17004 | $18223 | $18994 |
| **6/30/2025** | $17637 | $19082 | $19413 |
| **7/31/2025** | $17166 | $19194 | $19140 |
| **8/31/2025** | $17734 | $19946 | $19956 |
| **9/30/2025** | $18026 | $20431 | $20338 |
| **10/31/2025** | $17580 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class F at NAV | 17.54% | 8.61% | 5.80% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LINFX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1027-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LOIEX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $100 | 0.92% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.73%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ie079d01dffe1ec609ce6823e.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class F3** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **4/4/2017** | $10000 | $10000 | $10000 |
| **4/30/2017** | $10479 | $10356 | $10290 |
| **5/31/2017** | $10851 | $10771 | $10668 |
| **6/30/2017** | $10913 | $10824 | $10649 |
| **7/31/2017** | $11386 | $11188 | $10956 |
| **8/31/2017** | $11572 | $11273 | $10952 |
| **9/30/2017** | $11842 | $11579 | $11225 |
| **10/31/2017** | $12113 | $11734 | $11395 |
| **11/30/2017** | $12310 | $11946 | $11515 |
| **12/31/2017** | $12544 | $12302 | $11700 |
| **1/31/2018** | $13216 | $12898 | $12287 |
| **2/28/2018** | $12426 | $12356 | $11732 |
| **3/31/2018** | $12344 | $12197 | $11521 |
| **4/30/2018** | $12279 | $12367 | $11784 |
| **5/31/2018** | $12055 | $12308 | $11519 |
| **6/30/2018** | $11825 | $12062 | $11378 |
| **7/31/2018** | $11701 | $12138 | $11658 |
| **8/31/2018** | $11495 | $12124 | $11433 |
| **9/30/2018** | $11413 | $12029 | $11532 |
| **10/31/2018** | $10240 | $10830 | $10614 |
| **11/30/2018** | $10223 | $10738 | $10601 |
| **12/31/2018** | $9602 | $10037 | $10086 |
| **1/31/2019** | $10371 | $10853 | $10749 |
| **2/28/2019** | $10471 | $11134 | $11023 |
| **3/31/2019** | $10530 | $11079 | $11093 |
| **4/30/2019** | $10789 | $11405 | $11405 |
| **5/31/2019** | $10245 | $10842 | $10857 |
| **6/30/2019** | $10802 | $11370 | $11501 |
| **7/31/2019** | $10577 | $11260 | $11355 |
| **8/31/2019** | $10378 | $10966 | $11061 |
| **9/30/2019** | $10617 | $11198 | $11378 |
| **10/31/2019** | $11001 | $11686 | $11786 |
| **11/30/2019** | $11127 | $11937 | $11919 |
| **12/31/2019** | $11675 | $12512 | $12307 |
| **1/31/2020** | $11211 | $12118 | $12050 |
| **2/29/2020** | $10397 | $10919 | $10960 |
| **3/31/2020** | $8445 | $8925 | $9498 |
| **4/30/2020** | $9367 | $9987 | $10111 |
| **5/31/2020** | $9959 | $10677 | $10551 |
| **6/30/2020** | $10242 | $10943 | $10911 |
| **7/31/2020** | $10814 | $11517 | $11165 |
| **8/31/2020** | $11399 | $12308 | $11739 |
| **9/30/2020** | $11224 | $12095 | $11434 |
| **10/31/2020** | $10942 | $11671 | $10977 |
| **11/30/2020** | $12483 | $13415 | $12679 |
| **12/31/2020** | $13391 | $14298 | $13269 |
| **1/31/2021** | $13196 | $14257 | $13127 |
| **2/28/2021** | $13620 | $14654 | $13422 |
| **3/31/2021** | $13761 | $14898 | $13730 |
| **4/30/2021** | $14522 | $15546 | $14143 |
| **5/31/2021** | $14851 | $15935 | $14605 |
| **6/30/2021** | $14784 | $15776 | $14440 |
| **7/31/2021** | $14993 | $15887 | $14549 |
| **8/31/2021** | $15403 | $16282 | $14806 |
| **9/30/2021** | $14764 | $15716 | $14376 |
| **10/31/2021** | $14952 | $15977 | $14729 |
| **11/30/2021** | $14165 | $14974 | $14044 |
| **12/31/2021** | $14715 | $15665 | $14763 |
| **1/31/2022** | $13880 | $14491 | $14050 |
| **2/28/2022** | $13500 | $14347 | $13801 |
| **3/31/2022** | $13293 | $14401 | $13890 |
| **4/30/2022** | $12457 | $13382 | $12991 |
| **5/31/2022** | $12616 | $13376 | $13089 |
| **6/30/2022** | $11421 | $11844 | $11874 |
| **7/31/2022** | $12077 | $12599 | $12466 |
| **8/31/2022** | $11297 | $12027 | $11874 |
| **9/30/2022** | $10102 | $10579 | $10763 |
| **10/31/2022** | $10641 | $11085 | $11342 |
| **11/30/2022** | $11939 | $12226 | $12619 |
| **12/31/2022** | $11762 | $12311 | $12630 |
| **1/31/2023** | $12790 | $13381 | $13652 |
| **2/28/2023** | $12586 | $13084 | $13367 |
| **3/31/2023** | $12797 | $13119 | $13699 |
| **4/30/2023** | $12945 | $13306 | $14085 |
| **5/31/2023** | $12403 | $12724 | $13489 |
| **6/30/2023** | $12734 | $13160 | $14103 |
| **7/31/2023** | $13353 | $13819 | $14560 |
| **8/31/2023** | $13008 | $13310 | $14002 |
| **9/30/2023** | $12220 | $12674 | $13523 |
| **10/31/2023** | $11699 | $11914 | $12975 |
| **11/30/2023** | $12832 | $13127 | $14180 |
| **12/31/2023** | $13534 | $14043 | $14933 |
| **1/31/2024** | $13341 | $13716 | $15019 |
| **2/29/2024** | $13520 | $13759 | $15294 |
| **3/31/2024** | $13978 | $14347 | $15797 |
| **4/30/2024** | $13455 | $13972 | $15392 |
| **5/31/2024** | $14100 | $14664 | $15988 |
| **6/30/2024** | $13706 | $14235 | $15730 |
| **7/31/2024** | $14465 | $14835 | $16192 |
| **8/31/2024** | $14966 | $15062 | $16718 |
| **9/30/2024** | $15202 | $15472 | $16873 |
| **10/31/2024** | $14171 | $14566 | $15955 |
| **11/30/2024** | $14157 | $14485 | $15865 |
| **12/31/2024** | $13614 | $14098 | $15504 |
| **1/31/2025** | $13877 | $14567 | $16319 |
| **2/28/2025** | $13972 | $14570 | $16635 |
| **3/31/2025** | $14228 | $14565 | $16568 |
| **4/30/2025** | $15068 | $15429 | $17327 |
| **5/31/2025** | $16120 | $16377 | $18120 |
| **6/30/2025** | $16734 | $17149 | $18519 |
| **7/31/2025** | $16289 | $17250 | $18259 |
| **8/31/2025** | $16822 | $17926 | $19037 |
| **9/30/2025** | $17100 | $18362 | $19402 |
| **10/31/2025** | $16683 | $18259 | $19630 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | 17.73% | 8.80% | 6.15% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.27% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 8.18% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LOIEX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8977-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LINYX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $109 | 1.00% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.61%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ia060c464ac96b893f2185acb.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10069 | $9953 | $9844 |
| **12/31/2015** | $10033 | $9964 | $9712 |
| **1/31/2016** | $9284 | $9234 | $9009 |
| **2/29/2016** | $9086 | $9222 | $8844 |
| **3/31/2016** | $9919 | $10017 | $9420 |
| **4/30/2016** | $9967 | $10317 | $9693 |
| **5/31/2016** | $10099 | $10305 | $9605 |
| **6/30/2016** | $9505 | $9887 | $9282 |
| **7/31/2016** | $10003 | $10469 | $9753 |
| **8/31/2016** | $9967 | $10399 | $9760 |
| **9/30/2016** | $10201 | $10675 | $9879 |
| **10/31/2016** | $9925 | $10333 | $9677 |
| **11/30/2016** | $9583 | $10066 | $9485 |
| **12/31/2016** | $9720 | $10342 | $9809 |
| **1/31/2017** | $10137 | $10698 | $10093 |
| **2/28/2017** | $10264 | $10912 | $10238 |
| **3/31/2017** | $10688 | $11146 | $10520 |
| **4/30/2017** | $11227 | $11523 | $10787 |
| **5/31/2017** | $11626 | $11985 | $11183 |
| **6/30/2017** | $11693 | $12044 | $11163 |
| **7/31/2017** | $12201 | $12449 | $11485 |
| **8/31/2017** | $12401 | $12544 | $11481 |
| **9/30/2017** | $12691 | $12884 | $11767 |
| **10/31/2017** | $12976 | $13057 | $11945 |
| **11/30/2017** | $13188 | $13293 | $12071 |
| **12/31/2017** | $13438 | $13689 | $12265 |
| **1/31/2018** | $14159 | $14352 | $12880 |
| **2/28/2018** | $13311 | $13748 | $12298 |
| **3/31/2018** | $13223 | $13572 | $12077 |
| **4/30/2018** | $13153 | $13761 | $12352 |
| **5/31/2018** | $12912 | $13695 | $12075 |
| **6/30/2018** | $12666 | $13421 | $11927 |
| **7/31/2018** | $12533 | $13507 | $12221 |
| **8/31/2018** | $12311 | $13491 | $11985 |
| **9/30/2018** | $12216 | $13385 | $12089 |
| **10/31/2018** | $10969 | $12051 | $11127 |
| **11/30/2018** | $10944 | $11949 | $11113 |
| **12/31/2018** | $10274 | $11169 | $10573 |
| **1/31/2019** | $11101 | $12076 | $11268 |
| **2/28/2019** | $11208 | $12389 | $11555 |
| **3/31/2019** | $11265 | $12328 | $11628 |
| **4/30/2019** | $11543 | $12691 | $11955 |
| **5/31/2019** | $10966 | $12064 | $11381 |
| **6/30/2019** | $11557 | $12651 | $12056 |
| **7/31/2019** | $11315 | $12529 | $11903 |
| **8/31/2019** | $11101 | $12202 | $11595 |
| **9/30/2019** | $11357 | $12460 | $11927 |
| **10/31/2019** | $11764 | $13004 | $12356 |
| **11/30/2019** | $11899 | $13282 | $12495 |
| **12/31/2019** | $12486 | $13922 | $12901 |
| **1/31/2020** | $11994 | $13484 | $12631 |
| **2/29/2020** | $11119 | $12150 | $11490 |
| **3/31/2020** | $9030 | $9931 | $9956 |
| **4/30/2020** | $10013 | $11112 | $10599 |
| **5/31/2020** | $10642 | $11880 | $11061 |
| **6/30/2020** | $10953 | $12177 | $11437 |
| **7/31/2020** | $11560 | $12816 | $11704 |
| **8/31/2020** | $12182 | $13696 | $12306 |
| **9/30/2020** | $11994 | $13459 | $11986 |
| **10/31/2020** | $11690 | $12987 | $11507 |
| **11/30/2020** | $13339 | $14928 | $13291 |
| **12/31/2020** | $14308 | $15909 | $13909 |
| **1/31/2021** | $14105 | $15864 | $13761 |
| **2/28/2021** | $14553 | $16306 | $14070 |
| **3/31/2021** | $14705 | $16577 | $14393 |
| **4/30/2021** | $15515 | $17298 | $14826 |
| **5/31/2021** | $15869 | $17731 | $15310 |
| **6/30/2021** | $15797 | $17555 | $15137 |
| **7/31/2021** | $16014 | $17678 | $15251 |
| **8/31/2021** | $16448 | $18118 | $15520 |
| **9/30/2021** | $15768 | $17488 | $15070 |
| **10/31/2021** | $15963 | $17778 | $15441 |
| **11/30/2021** | $15125 | $16662 | $14722 |
| **12/31/2021** | $15712 | $17431 | $15476 |
| **1/31/2022** | $14814 | $16124 | $14728 |
| **2/28/2022** | $14414 | $15964 | $14468 |
| **3/31/2022** | $14191 | $16024 | $14561 |
| **4/30/2022** | $13293 | $14890 | $13619 |
| **5/31/2022** | $13471 | $14884 | $13721 |
| **6/30/2022** | $12188 | $13179 | $12448 |
| **7/31/2022** | $12893 | $14019 | $13068 |
| **8/31/2022** | $12055 | $13383 | $12447 |
| **9/30/2022** | $10779 | $11771 | $11283 |
| **10/31/2022** | $11357 | $12335 | $11889 |
| **11/30/2022** | $12737 | $13604 | $13229 |
| **12/31/2022** | $12551 | $13698 | $13239 |
| **1/31/2023** | $13648 | $14889 | $14311 |
| **2/28/2023** | $13421 | $14559 | $14013 |
| **3/31/2023** | $13648 | $14598 | $14360 |
| **4/30/2023** | $13806 | $14806 | $14765 |
| **5/31/2023** | $13232 | $14158 | $14141 |
| **6/30/2023** | $13580 | $14643 | $14784 |
| **7/31/2023** | $14237 | $15377 | $15263 |
| **8/31/2023** | $13874 | $14811 | $14678 |
| **9/30/2023** | $13028 | $14102 | $14176 |
| **10/31/2023** | $12476 | $13257 | $13602 |
| **11/30/2023** | $13685 | $14607 | $14864 |
| **12/31/2023** | $14429 | $15626 | $15654 |
| **1/31/2024** | $14229 | $15263 | $15744 |
| **2/29/2024** | $14413 | $15310 | $16032 |
| **3/31/2024** | $14906 | $15964 | $16559 |
| **4/30/2024** | $14344 | $15547 | $16135 |
| **5/31/2024** | $15029 | $16316 | $16760 |
| **6/30/2024** | $14606 | $15840 | $16490 |
| **7/31/2024** | $15413 | $16507 | $16974 |
| **8/31/2024** | $15952 | $16760 | $17525 |
| **9/30/2024** | $16205 | $17216 | $17687 |
| **10/31/2024** | $15098 | $16208 | $16725 |
| **11/30/2024** | $15083 | $16118 | $16631 |
| **12/31/2024** | $14499 | $15687 | $16252 |
| **1/31/2025** | $14782 | $16209 | $17106 |
| **2/28/2025** | $14884 | $16212 | $17438 |
| **3/31/2025** | $15151 | $16206 | $17368 |
| **4/30/2025** | $16053 | $17168 | $18163 |
| **5/31/2025** | $17168 | $18223 | $18994 |
| **6/30/2025** | $17820 | $19082 | $19413 |
| **7/31/2025** | $17349 | $19194 | $19140 |
| **8/31/2025** | $17914 | $19946 | $19956 |
| **9/30/2025** | $18212 | $20431 | $20338 |
| **10/31/2025** | $17757 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | 17.61% | 8.72% | 5.91% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LINYX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-686-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class P

# LINPX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class P | $157 | 1.45% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.07%, reflecting performance at the net asset value (NAV) of Class P shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i66e6bad007d2796b10dfc414.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class P** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10058 | $9953 | $9844 |
| **12/31/2015** | $10027 | $9964 | $9712 |
| **1/31/2016** | $9268 | $9234 | $9009 |
| **2/29/2016** | $9070 | $9222 | $8844 |
| **3/31/2016** | $9895 | $10017 | $9420 |
| **4/30/2016** | $9943 | $10317 | $9693 |
| **5/31/2016** | $10069 | $10305 | $9605 |
| **6/30/2016** | $9473 | $9887 | $9282 |
| **7/31/2016** | $9967 | $10469 | $9753 |
| **8/31/2016** | $9931 | $10399 | $9760 |
| **9/30/2016** | $10160 | $10675 | $9879 |
| **10/31/2016** | $9883 | $10333 | $9677 |
| **11/30/2016** | $9533 | $10066 | $9485 |
| **12/31/2016** | $9667 | $10342 | $9809 |
| **1/31/2017** | $10079 | $10698 | $10093 |
| **2/28/2017** | $10199 | $10912 | $10238 |
| **3/31/2017** | $10617 | $11146 | $10520 |
| **4/30/2017** | $11149 | $11523 | $10787 |
| **5/31/2017** | $11542 | $11985 | $11183 |
| **6/30/2017** | $11608 | $12044 | $11163 |
| **7/31/2017** | $12104 | $12449 | $11485 |
| **8/31/2017** | $12297 | $12544 | $11481 |
| **9/30/2017** | $12582 | $12884 | $11767 |
| **10/31/2017** | $12860 | $13057 | $11945 |
| **11/30/2017** | $13065 | $13293 | $12071 |
| **12/31/2017** | $13307 | $13689 | $12265 |
| **1/31/2018** | $14019 | $14352 | $12880 |
| **2/28/2018** | $13175 | $13748 | $12298 |
| **3/31/2018** | $13080 | $13572 | $12077 |
| **4/30/2018** | $13005 | $13761 | $12352 |
| **5/31/2018** | $12759 | $13695 | $12075 |
| **6/30/2018** | $12513 | $13421 | $11927 |
| **7/31/2018** | $12375 | $13507 | $12221 |
| **8/31/2018** | $12154 | $13491 | $11985 |
| **9/30/2018** | $12060 | $13385 | $12089 |
| **10/31/2018** | $10819 | $12051 | $11127 |
| **11/30/2018** | $10794 | $11949 | $11113 |
| **12/31/2018** | $10128 | $11169 | $10573 |
| **1/31/2019** | $10944 | $12076 | $11268 |
| **2/28/2019** | $11042 | $12389 | $11555 |
| **3/31/2019** | $11091 | $12328 | $11628 |
| **4/30/2019** | $11366 | $12691 | $11955 |
| **5/31/2019** | $10789 | $12064 | $11381 |
| **6/30/2019** | $11366 | $12651 | $12056 |
| **7/31/2019** | $11127 | $12529 | $11903 |
| **8/31/2019** | $10909 | $12202 | $11595 |
| **9/30/2019** | $11155 | $12460 | $11927 |
| **10/31/2019** | $11556 | $13004 | $12356 |
| **11/30/2019** | $11682 | $13282 | $12495 |
| **12/31/2019** | $12254 | $13922 | $12901 |
| **1/31/2020** | $11764 | $13484 | $12631 |
| **2/29/2020** | $10905 | $12150 | $11490 |
| **3/31/2020** | $8853 | $9931 | $9956 |
| **4/30/2020** | $9819 | $11112 | $10599 |
| **5/31/2020** | $10430 | $11880 | $11061 |
| **6/30/2020** | $10728 | $12177 | $11437 |
| **7/31/2020** | $11317 | $12816 | $11704 |
| **8/31/2020** | $11921 | $13696 | $12306 |
| **9/30/2020** | $11736 | $13459 | $11986 |
| **10/31/2020** | $11431 | $12987 | $11507 |
| **11/30/2020** | $13042 | $14928 | $13291 |
| **12/31/2020** | $13980 | $15909 | $13909 |
| **1/31/2021** | $13774 | $15864 | $13761 |
| **2/28/2021** | $14207 | $16306 | $14070 |
| **3/31/2021** | $14349 | $16577 | $14393 |
| **4/30/2021** | $15137 | $17298 | $14826 |
| **5/31/2021** | $15470 | $17731 | $15310 |
| **6/30/2021** | $15400 | $17555 | $15137 |
| **7/31/2021** | $15605 | $17678 | $15251 |
| **8/31/2021** | $16024 | $18118 | $15520 |
| **9/30/2021** | $15350 | $17488 | $15070 |
| **10/31/2021** | $15541 | $17778 | $15441 |
| **11/30/2021** | $14718 | $16662 | $14722 |
| **12/31/2021** | $15282 | $17431 | $15476 |
| **1/31/2022** | $14405 | $16124 | $14728 |
| **2/28/2022** | $14013 | $15964 | $14468 |
| **3/31/2022** | $13789 | $16024 | $14561 |
| **4/30/2022** | $12912 | $14890 | $13619 |
| **5/31/2022** | $13078 | $14884 | $13721 |
| **6/30/2022** | $11831 | $13179 | $12448 |
| **7/31/2022** | $12506 | $14019 | $13068 |
| **8/31/2022** | $11694 | $13383 | $12447 |
| **9/30/2022** | $10447 | $11771 | $11283 |
| **10/31/2022** | $11005 | $12335 | $11889 |
| **11/30/2022** | $12339 | $13604 | $13229 |
| **12/31/2022** | $12154 | $13698 | $13239 |
| **1/31/2023** | $13213 | $14889 | $14311 |
| **2/28/2023** | $12992 | $14559 | $14013 |
| **3/31/2023** | $13205 | $14598 | $14360 |
| **4/30/2023** | $13352 | $14806 | $14765 |
| **5/31/2023** | $12786 | $14158 | $14141 |
| **6/30/2023** | $13117 | $14643 | $14784 |
| **7/31/2023** | $13757 | $15377 | $15263 |
| **8/31/2023** | $13389 | $14811 | $14678 |
| **9/30/2023** | $12573 | $14102 | $14176 |
| **10/31/2023** | $12036 | $13257 | $13602 |
| **11/30/2023** | $13198 | $14607 | $14864 |
| **12/31/2023** | $13910 | $15626 | $15654 |
| **1/31/2024** | $13710 | $15263 | $15744 |
| **2/29/2024** | $13888 | $15310 | $16032 |
| **3/31/2024** | $14347 | $15964 | $16559 |
| **4/30/2024** | $13807 | $15547 | $16135 |
| **5/31/2024** | $14458 | $16316 | $16760 |
| **6/30/2024** | $14051 | $15840 | $16490 |
| **7/31/2024** | $14821 | $16507 | $16974 |
| **8/31/2024** | $15324 | $16760 | $17525 |
| **9/30/2024** | $15569 | $17216 | $17687 |
| **10/31/2024** | $14503 | $16208 | $16725 |
| **11/30/2024** | $14480 | $16118 | $16631 |
| **12/31/2024** | $13916 | $15687 | $16252 |
| **1/31/2025** | $14180 | $16209 | $17106 |
| **2/28/2025** | $14277 | $16212 | $17438 |
| **3/31/2025** | $14526 | $16206 | $17368 |
| **4/30/2025** | $15383 | $17168 | $18163 |
| **5/31/2025** | $16451 | $18223 | $18994 |
| **6/30/2025** | $17061 | $19082 | $19413 |
| **7/31/2025** | $16602 | $19194 | $19140 |
| **8/31/2025** | $17143 | $19946 | $19956 |
| **9/30/2025** | $17414 | $20431 | $20338 |
| **10/31/2025** | $16978 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class P at NAV | 17.07% | 8.23% | 5.44% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class P

# LINPX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-600-P

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R2

# LINQX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R2 | $174 | 1.60% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 16.89%, reflecting performance at the net asset value (NAV) of Class R2 shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i42f24930878966c07dbb5765.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R2** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10059 | $9953 | $9844 |
| **12/31/2015** | $10028 | $9964 | $9712 |
| **1/31/2016** | $9270 | $9234 | $9009 |
| **2/29/2016** | $9065 | $9222 | $8844 |
| **3/31/2016** | $9891 | $10017 | $9420 |
| **4/30/2016** | $9941 | $10317 | $9693 |
| **5/31/2016** | $10065 | $10305 | $9605 |
| **6/30/2016** | $9469 | $9887 | $9282 |
| **7/31/2016** | $9959 | $10469 | $9753 |
| **8/31/2016** | $9922 | $10399 | $9760 |
| **9/30/2016** | $10146 | $10675 | $9879 |
| **10/31/2016** | $9866 | $10333 | $9677 |
| **11/30/2016** | $9525 | $10066 | $9485 |
| **12/31/2016** | $9650 | $10342 | $9809 |
| **1/31/2017** | $10062 | $10698 | $10093 |
| **2/28/2017** | $10187 | $10912 | $10238 |
| **3/31/2017** | $10599 | $11146 | $10520 |
| **4/30/2017** | $11130 | $11523 | $10787 |
| **5/31/2017** | $11517 | $11985 | $11183 |
| **6/30/2017** | $11579 | $12044 | $11163 |
| **7/31/2017** | $12073 | $12449 | $11485 |
| **8/31/2017** | $12266 | $12544 | $11481 |
| **9/30/2017** | $12547 | $12884 | $11767 |
| **10/31/2017** | $12822 | $13057 | $11945 |
| **11/30/2017** | $13028 | $13293 | $12071 |
| **12/31/2017** | $13271 | $13689 | $12265 |
| **1/31/2018** | $13974 | $14352 | $12880 |
| **2/28/2018** | $13128 | $13748 | $12298 |
| **3/31/2018** | $13037 | $13572 | $12077 |
| **4/30/2018** | $12958 | $13761 | $12352 |
| **5/31/2018** | $12717 | $13695 | $12075 |
| **6/30/2018** | $12470 | $13421 | $11927 |
| **7/31/2018** | $12327 | $13507 | $12221 |
| **8/31/2018** | $12105 | $13491 | $11985 |
| **9/30/2018** | $12008 | $13385 | $12089 |
| **10/31/2018** | $10770 | $12051 | $11127 |
| **11/30/2018** | $10744 | $11949 | $11113 |
| **12/31/2018** | $10086 | $11169 | $10573 |
| **1/31/2019** | $10890 | $12076 | $11268 |
| **2/28/2019** | $10985 | $12389 | $11555 |
| **3/31/2019** | $11043 | $12328 | $11628 |
| **4/30/2019** | $11306 | $12691 | $11955 |
| **5/31/2019** | $10736 | $12064 | $11381 |
| **6/30/2019** | $11306 | $12651 | $12056 |
| **7/31/2019** | $11065 | $12529 | $11903 |
| **8/31/2019** | $10853 | $12202 | $11595 |
| **9/30/2019** | $11094 | $12460 | $11927 |
| **10/31/2019** | $11489 | $13004 | $12356 |
| **11/30/2019** | $11613 | $13282 | $12495 |
| **12/31/2019** | $12180 | $13922 | $12901 |
| **1/31/2020** | $11693 | $13484 | $12631 |
| **2/29/2020** | $10830 | $12150 | $11490 |
| **3/31/2020** | $8796 | $9931 | $9956 |
| **4/30/2020** | $9754 | $11112 | $10599 |
| **5/31/2020** | $10359 | $11880 | $11061 |
| **6/30/2020** | $10653 | $12177 | $11437 |
| **7/31/2020** | $11236 | $12816 | $11704 |
| **8/31/2020** | $11840 | $13696 | $12306 |
| **9/30/2020** | $11649 | $13459 | $11986 |
| **10/31/2020** | $11347 | $12987 | $11507 |
| **11/30/2020** | $12939 | $14928 | $13291 |
| **12/31/2020** | $13875 | $15909 | $13909 |
| **1/31/2021** | $13669 | $15864 | $13761 |
| **2/28/2021** | $14097 | $16306 | $14070 |
| **3/31/2021** | $14237 | $16577 | $14393 |
| **4/30/2021** | $15018 | $17298 | $14826 |
| **5/31/2021** | $15343 | $17731 | $15310 |
| **6/30/2021** | $15269 | $17555 | $15137 |
| **7/31/2021** | $15475 | $17678 | $15251 |
| **8/31/2021** | $15888 | $18118 | $15520 |
| **9/30/2021** | $15217 | $17488 | $15070 |
| **10/31/2021** | $15401 | $17778 | $15441 |
| **11/30/2021** | $14583 | $16662 | $14722 |
| **12/31/2021** | $15141 | $17431 | $15476 |
| **1/31/2022** | $14276 | $16124 | $14728 |
| **2/28/2022** | $13878 | $15964 | $14468 |
| **3/31/2022** | $13652 | $16024 | $14561 |
| **4/30/2022** | $12787 | $14890 | $13619 |
| **5/31/2022** | $12952 | $14884 | $13721 |
| **6/30/2022** | $11711 | $13179 | $12448 |
| **7/31/2022** | $12381 | $14019 | $13068 |
| **8/31/2022** | $11576 | $13383 | $12447 |
| **9/30/2022** | $10342 | $11771 | $11283 |
| **10/31/2022** | $10891 | $12335 | $11889 |
| **11/30/2022** | $12208 | $13604 | $13229 |
| **12/31/2022** | $12020 | $13698 | $13239 |
| **1/31/2023** | $13072 | $14889 | $14311 |
| **2/28/2023** | $12851 | $14559 | $14013 |
| **3/31/2023** | $13057 | $14598 | $14360 |
| **4/30/2023** | $13202 | $14806 | $14765 |
| **5/31/2023** | $12645 | $14158 | $14141 |
| **6/30/2023** | $12973 | $14643 | $14784 |
| **7/31/2023** | $13598 | $15377 | $15263 |
| **8/31/2023** | $13240 | $14811 | $14678 |
| **9/30/2023** | $12424 | $14102 | $14176 |
| **10/31/2023** | $11890 | $13257 | $13602 |
| **11/30/2023** | $13042 | $14607 | $14864 |
| **12/31/2023** | $13739 | $15626 | $15654 |
| **1/31/2024** | $13539 | $15263 | $15744 |
| **2/29/2024** | $13716 | $15310 | $16032 |
| **3/31/2024** | $14171 | $15964 | $16559 |
| **4/30/2024** | $13631 | $15547 | $16135 |
| **5/31/2024** | $14271 | $16316 | $16760 |
| **6/30/2024** | $13870 | $15840 | $16490 |
| **7/31/2024** | $14626 | $16507 | $16974 |
| **8/31/2024** | $15127 | $16760 | $17525 |
| **9/30/2024** | $15358 | $17216 | $17687 |
| **10/31/2024** | $14310 | $16208 | $16725 |
| **11/30/2024** | $14287 | $16118 | $16631 |
| **12/31/2024** | $13729 | $15687 | $16252 |
| **1/31/2025** | $13988 | $16209 | $17106 |
| **2/28/2025** | $14074 | $16212 | $17438 |
| **3/31/2025** | $14324 | $16206 | $17368 |
| **4/30/2025** | $15162 | $17168 | $18163 |
| **5/31/2025** | $16211 | $18223 | $18994 |
| **6/30/2025** | $16813 | $19082 | $19413 |
| **7/31/2025** | $16359 | $19194 | $19140 |
| **8/31/2025** | $16892 | $19946 | $19956 |
| **9/30/2025** | $17158 | $20431 | $20338 |
| **10/31/2025** | $16727 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R2 at NAV | 16.89% | 8.07% | 5.28% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R2

# LINQX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1097-R2

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LINRX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $163 | 1.50% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.05%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i47e91693e7c7a499fb616b46.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R3** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10060 | $9953 | $9844 |
| **12/31/2015** | $10024 | $9964 | $9712 |
| **1/31/2016** | $9269 | $9234 | $9009 |
| **2/29/2016** | $9070 | $9222 | $8844 |
| **3/31/2016** | $9899 | $10017 | $9420 |
| **4/30/2016** | $9943 | $10317 | $9693 |
| **5/31/2016** | $10067 | $10305 | $9605 |
| **6/30/2016** | $9475 | $9887 | $9282 |
| **7/31/2016** | $9968 | $10469 | $9753 |
| **8/31/2016** | $9930 | $10399 | $9760 |
| **9/30/2016** | $10155 | $10675 | $9879 |
| **10/31/2016** | $9880 | $10333 | $9677 |
| **11/30/2016** | $9531 | $10066 | $9485 |
| **12/31/2016** | $9665 | $10342 | $9809 |
| **1/31/2017** | $10072 | $10698 | $10093 |
| **2/28/2017** | $10198 | $10912 | $10238 |
| **3/31/2017** | $10618 | $11146 | $10520 |
| **4/30/2017** | $11145 | $11523 | $10787 |
| **5/31/2017** | $11540 | $11985 | $11183 |
| **6/30/2017** | $11603 | $12044 | $11163 |
| **7/31/2017** | $12098 | $12449 | $11485 |
| **8/31/2017** | $12293 | $12544 | $11481 |
| **9/30/2017** | $12575 | $12884 | $11767 |
| **10/31/2017** | $12851 | $13057 | $11945 |
| **11/30/2017** | $13058 | $13293 | $12071 |
| **12/31/2017** | $13304 | $13689 | $12265 |
| **1/31/2018** | $14010 | $14352 | $12880 |
| **2/28/2018** | $13166 | $13748 | $12298 |
| **3/31/2018** | $13075 | $13572 | $12077 |
| **4/30/2018** | $12996 | $13761 | $12352 |
| **5/31/2018** | $12754 | $13695 | $12075 |
| **6/30/2018** | $12506 | $13421 | $11927 |
| **7/31/2018** | $12369 | $13507 | $12221 |
| **8/31/2018** | $12140 | $13491 | $11985 |
| **9/30/2018** | $12048 | $13385 | $12089 |
| **10/31/2018** | $10812 | $12051 | $11127 |
| **11/30/2018** | $10786 | $11949 | $11113 |
| **12/31/2018** | $10120 | $11169 | $10573 |
| **1/31/2019** | $10931 | $12076 | $11268 |
| **2/28/2019** | $11027 | $12389 | $11555 |
| **3/31/2019** | $11086 | $12328 | $11628 |
| **4/30/2019** | $11352 | $12691 | $11955 |
| **5/31/2019** | $10776 | $12064 | $11381 |
| **6/30/2019** | $11352 | $12651 | $12056 |
| **7/31/2019** | $11108 | $12529 | $11903 |
| **8/31/2019** | $10894 | $12202 | $11595 |
| **9/30/2019** | $11145 | $12460 | $11927 |
| **10/31/2019** | $11544 | $13004 | $12356 |
| **11/30/2019** | $11662 | $13282 | $12495 |
| **12/31/2019** | $12234 | $13922 | $12901 |
| **1/31/2020** | $11750 | $13484 | $12631 |
| **2/29/2020** | $10887 | $12150 | $11490 |
| **3/31/2020** | $8839 | $9931 | $9956 |
| **4/30/2020** | $9799 | $11112 | $10599 |
| **5/31/2020** | $10410 | $11880 | $11061 |
| **6/30/2020** | $10708 | $12177 | $11437 |
| **7/31/2020** | $11296 | $12816 | $11704 |
| **8/31/2020** | $11899 | $13696 | $12306 |
| **9/30/2020** | $11713 | $13459 | $11986 |
| **10/31/2020** | $11408 | $12987 | $11507 |
| **11/30/2020** | $13016 | $14928 | $13291 |
| **12/31/2020** | $13955 | $15909 | $13909 |
| **1/31/2021** | $13746 | $15864 | $13761 |
| **2/28/2021** | $14178 | $16306 | $14070 |
| **3/31/2021** | $14319 | $16577 | $14393 |
| **4/30/2021** | $15109 | $17298 | $14826 |
| **5/31/2021** | $15436 | $17731 | $15310 |
| **6/30/2021** | $15362 | $17555 | $15137 |
| **7/31/2021** | $15570 | $17678 | $15251 |
| **8/31/2021** | $15987 | $18118 | $15520 |
| **9/30/2021** | $15317 | $17488 | $15070 |
| **10/31/2021** | $15503 | $17778 | $15441 |
| **11/30/2021** | $14677 | $16662 | $14722 |
| **12/31/2021** | $15246 | $17431 | $15476 |
| **1/31/2022** | $14367 | $16124 | $14728 |
| **2/28/2022** | $13972 | $15964 | $14468 |
| **3/31/2022** | $13753 | $16024 | $14561 |
| **4/30/2022** | $12881 | $14890 | $13619 |
| **5/31/2022** | $13040 | $14884 | $13721 |
| **6/30/2022** | $11797 | $13179 | $12448 |
| **7/31/2022** | $12471 | $14019 | $13068 |
| **8/31/2022** | $11660 | $13383 | $12447 |
| **9/30/2022** | $10417 | $11771 | $11283 |
| **10/31/2022** | $10970 | $12335 | $11889 |
| **11/30/2022** | $12304 | $13604 | $13229 |
| **12/31/2022** | $12114 | $13698 | $13239 |
| **1/31/2023** | $13167 | $14889 | $14311 |
| **2/28/2023** | $12952 | $14559 | $14013 |
| **3/31/2023** | $13160 | $14598 | $14360 |
| **4/30/2023** | $13306 | $14806 | $14765 |
| **5/31/2023** | $12744 | $14158 | $14141 |
| **6/30/2023** | $13075 | $14643 | $14784 |
| **7/31/2023** | $13706 | $15377 | $15263 |
| **8/31/2023** | $13344 | $14811 | $14678 |
| **9/30/2023** | $12529 | $14102 | $14176 |
| **10/31/2023** | $11991 | $13257 | $13602 |
| **11/30/2023** | $13152 | $14607 | $14864 |
| **12/31/2023** | $13859 | $15626 | $15654 |
| **1/31/2024** | $13656 | $15263 | $15744 |
| **2/29/2024** | $13835 | $15310 | $16032 |
| **3/31/2024** | $14295 | $15964 | $16559 |
| **4/30/2024** | $13757 | $15547 | $16135 |
| **5/31/2024** | $14404 | $16316 | $16760 |
| **6/30/2024** | $13999 | $15840 | $16490 |
| **7/31/2024** | $14763 | $16507 | $16974 |
| **8/31/2024** | $15269 | $16760 | $17525 |
| **9/30/2024** | $15503 | $17216 | $17687 |
| **10/31/2024** | $14443 | $16208 | $16725 |
| **11/30/2024** | $14428 | $16118 | $16631 |
| **12/31/2024** | $13863 | $15687 | $16252 |
| **1/31/2025** | $14125 | $16209 | $17106 |
| **2/28/2025** | $14220 | $16212 | $17438 |
| **3/31/2025** | $14465 | $16206 | $17368 |
| **4/30/2025** | $15321 | $17168 | $18163 |
| **5/31/2025** | $16382 | $18223 | $18994 |
| **6/30/2025** | $16984 | $19082 | $19413 |
| **7/31/2025** | $16533 | $19194 | $19140 |
| **8/31/2025** | $17064 | $19946 | $19956 |
| **9/30/2025** | $17341 | $20431 | $20338 |
| **10/31/2025** | $16905 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R3 at NAV | 17.05% | 8.18% | 5.39% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LINRX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2071-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LINSX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $136 | 1.25% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.35%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ieba55de0adb524b89a0f44ba.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R4** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10065 | $9953 | $9844 |
| **12/31/2015** | $10026 | $9964 | $9712 |
| **1/31/2016** | $9277 | $9234 | $9009 |
| **2/29/2016** | $9074 | $9222 | $8844 |
| **3/31/2016** | $9903 | $10017 | $9420 |
| **4/30/2016** | $9959 | $10317 | $9693 |
| **5/31/2016** | $10082 | $10305 | $9605 |
| **6/30/2016** | $9486 | $9887 | $9282 |
| **7/31/2016** | $9983 | $10469 | $9753 |
| **8/31/2016** | $9946 | $10399 | $9760 |
| **9/30/2016** | $10180 | $10675 | $9879 |
| **10/31/2016** | $9897 | $10333 | $9677 |
| **11/30/2016** | $9559 | $10066 | $9485 |
| **12/31/2016** | $9691 | $10342 | $9809 |
| **1/31/2017** | $10100 | $10698 | $10093 |
| **2/28/2017** | $10230 | $10912 | $10238 |
| **3/31/2017** | $10652 | $11146 | $10520 |
| **4/30/2017** | $11185 | $11523 | $10787 |
| **5/31/2017** | $11582 | $11985 | $11183 |
| **6/30/2017** | $11644 | $12044 | $11163 |
| **7/31/2017** | $12146 | $12449 | $11485 |
| **8/31/2017** | $12345 | $12544 | $11481 |
| **9/30/2017** | $12630 | $12884 | $11767 |
| **10/31/2017** | $12909 | $13057 | $11945 |
| **11/30/2017** | $13120 | $13293 | $12071 |
| **12/31/2017** | $13365 | $13689 | $12265 |
| **1/31/2018** | $14078 | $14352 | $12880 |
| **2/28/2018** | $13235 | $13748 | $12298 |
| **3/31/2018** | $13145 | $13572 | $12077 |
| **4/30/2018** | $13067 | $13761 | $12352 |
| **5/31/2018** | $12827 | $13695 | $12075 |
| **6/30/2018** | $12581 | $13421 | $11927 |
| **7/31/2018** | $12445 | $13507 | $12221 |
| **8/31/2018** | $12218 | $13491 | $11985 |
| **9/30/2018** | $12127 | $13385 | $12089 |
| **10/31/2018** | $10883 | $12051 | $11127 |
| **11/30/2018** | $10863 | $11949 | $11113 |
| **12/31/2018** | $10191 | $11169 | $10573 |
| **1/31/2019** | $11016 | $12076 | $11268 |
| **2/28/2019** | $11111 | $12389 | $11555 |
| **3/31/2019** | $11169 | $12328 | $11628 |
| **4/30/2019** | $11446 | $12691 | $11955 |
| **5/31/2019** | $10870 | $12064 | $11381 |
| **6/30/2019** | $11446 | $12651 | $12056 |
| **7/31/2019** | $11206 | $12529 | $11903 |
| **8/31/2019** | $10994 | $12202 | $11595 |
| **9/30/2019** | $11242 | $12460 | $11927 |
| **10/31/2019** | $11651 | $13004 | $12356 |
| **11/30/2019** | $11775 | $13282 | $12495 |
| **12/31/2019** | $12352 | $13922 | $12901 |
| **1/31/2020** | $11864 | $13484 | $12631 |
| **2/29/2020** | $10998 | $12150 | $11490 |
| **3/31/2020** | $8935 | $9931 | $9956 |
| **4/30/2020** | $9904 | $11112 | $10599 |
| **5/31/2020** | $10525 | $11880 | $11061 |
| **6/30/2020** | $10821 | $12177 | $11437 |
| **7/31/2020** | $11420 | $12816 | $11704 |
| **8/31/2020** | $12034 | $13696 | $12306 |
| **9/30/2020** | $11849 | $13459 | $11986 |
| **10/31/2020** | $11546 | $12987 | $11507 |
| **11/30/2020** | $13173 | $14928 | $13291 |
| **12/31/2020** | $14127 | $15909 | $13909 |
| **1/31/2021** | $13920 | $15864 | $13761 |
| **2/28/2021** | $14356 | $16306 | $14070 |
| **3/31/2021** | $14504 | $16577 | $14393 |
| **4/30/2021** | $15303 | $17298 | $14826 |
| **5/31/2021** | $15643 | $17731 | $15310 |
| **6/30/2021** | $15569 | $17555 | $15137 |
| **7/31/2021** | $15784 | $17678 | $15251 |
| **8/31/2021** | $16213 | $18118 | $15520 |
| **9/30/2021** | $15532 | $17488 | $15070 |
| **10/31/2021** | $15724 | $17778 | $15441 |
| **11/30/2021** | $14896 | $16662 | $14722 |
| **12/31/2021** | $15472 | $17431 | $15476 |
| **1/31/2022** | $14586 | $16124 | $14728 |
| **2/28/2022** | $14184 | $15964 | $14468 |
| **3/31/2022** | $13964 | $16024 | $14561 |
| **4/30/2022** | $13078 | $14890 | $13619 |
| **5/31/2022** | $13245 | $14884 | $13721 |
| **6/30/2022** | $11987 | $13179 | $12448 |
| **7/31/2022** | $12676 | $14019 | $13068 |
| **8/31/2022** | $11850 | $13383 | $12447 |
| **9/30/2022** | $10593 | $11771 | $11283 |
| **10/31/2022** | $11161 | $12335 | $11889 |
| **11/30/2022** | $12510 | $13604 | $13229 |
| **12/31/2022** | $12326 | $13698 | $13239 |
| **1/31/2023** | $13405 | $14889 | $14311 |
| **2/28/2023** | $13181 | $14559 | $14013 |
| **3/31/2023** | $13397 | $14598 | $14360 |
| **4/30/2023** | $13551 | $14806 | $14765 |
| **5/31/2023** | $12981 | $14158 | $14141 |
| **6/30/2023** | $13320 | $14643 | $14784 |
| **7/31/2023** | $13967 | $15377 | $15263 |
| **8/31/2023** | $13597 | $14811 | $14678 |
| **9/30/2023** | $12773 | $14102 | $14176 |
| **10/31/2023** | $12225 | $13257 | $13602 |
| **11/30/2023** | $13412 | $14607 | $14864 |
| **12/31/2023** | $14141 | $15626 | $15654 |
| **1/31/2024** | $13937 | $15263 | $15744 |
| **2/29/2024** | $14117 | $15310 | $16032 |
| **3/31/2024** | $14587 | $15964 | $16559 |
| **4/30/2024** | $14039 | $15547 | $16135 |
| **5/31/2024** | $14705 | $16316 | $16760 |
| **6/30/2024** | $14290 | $15840 | $16490 |
| **7/31/2024** | $15080 | $16507 | $16974 |
| **8/31/2024** | $15597 | $16760 | $17525 |
| **9/30/2024** | $15840 | $17216 | $17687 |
| **10/31/2024** | $14759 | $16208 | $16725 |
| **11/30/2024** | $14744 | $16118 | $16631 |
| **12/31/2024** | $14169 | $15687 | $16252 |
| **1/31/2025** | $14441 | $16209 | $17106 |
| **2/28/2025** | $14544 | $16212 | $17438 |
| **3/31/2025** | $14800 | $16206 | $17368 |
| **4/30/2025** | $15677 | $17168 | $18163 |
| **5/31/2025** | $16762 | $18223 | $18994 |
| **6/30/2025** | $17393 | $19082 | $19413 |
| **7/31/2025** | $16922 | $19194 | $19140 |
| **8/31/2025** | $17480 | $19946 | $19956 |
| **9/30/2025** | $17760 | $20431 | $20338 |
| **10/31/2025** | $17321 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R4 at NAV | 17.35% | 8.45% | 5.65% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LINSX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8721-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LINTX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $109 | 1.00% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.62%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ic285d7addef6bf1e54db905e.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R5** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10063 | $9953 | $9844 |
| **12/31/2015** | $10033 | $9964 | $9712 |
| **1/31/2016** | $9283 | $9234 | $9009 |
| **2/29/2016** | $9086 | $9222 | $8844 |
| **3/31/2016** | $9913 | $10017 | $9420 |
| **4/30/2016** | $9967 | $10317 | $9693 |
| **5/31/2016** | $10099 | $10305 | $9605 |
| **6/30/2016** | $9499 | $9887 | $9282 |
| **7/31/2016** | $10003 | $10469 | $9753 |
| **8/31/2016** | $9967 | $10399 | $9760 |
| **9/30/2016** | $10200 | $10675 | $9879 |
| **10/31/2016** | $9925 | $10333 | $9677 |
| **11/30/2016** | $9583 | $10066 | $9485 |
| **12/31/2016** | $9715 | $10342 | $9809 |
| **1/31/2017** | $10132 | $10698 | $10093 |
| **2/28/2017** | $10259 | $10912 | $10238 |
| **3/31/2017** | $10683 | $11146 | $10520 |
| **4/30/2017** | $11228 | $11523 | $10787 |
| **5/31/2017** | $11627 | $11985 | $11183 |
| **6/30/2017** | $11694 | $12044 | $11163 |
| **7/31/2017** | $12196 | $12449 | $11485 |
| **8/31/2017** | $12402 | $12544 | $11481 |
| **9/30/2017** | $12687 | $12884 | $11767 |
| **10/31/2017** | $12971 | $13057 | $11945 |
| **11/30/2017** | $13183 | $13293 | $12071 |
| **12/31/2017** | $13439 | $13689 | $12265 |
| **1/31/2018** | $14155 | $14352 | $12880 |
| **2/28/2018** | $13306 | $13748 | $12298 |
| **3/31/2018** | $13218 | $13572 | $12077 |
| **4/30/2018** | $13148 | $13761 | $12352 |
| **5/31/2018** | $12908 | $13695 | $12075 |
| **6/30/2018** | $12667 | $13421 | $11927 |
| **7/31/2018** | $12528 | $13507 | $12221 |
| **8/31/2018** | $12306 | $13491 | $11985 |
| **9/30/2018** | $12218 | $13385 | $12089 |
| **10/31/2018** | $10964 | $12051 | $11127 |
| **11/30/2018** | $10945 | $11949 | $11113 |
| **12/31/2018** | $10277 | $11169 | $10573 |
| **1/31/2019** | $11104 | $12076 | $11268 |
| **2/28/2019** | $11204 | $12389 | $11555 |
| **3/31/2019** | $11261 | $12328 | $11628 |
| **4/30/2019** | $11539 | $12691 | $11955 |
| **5/31/2019** | $10961 | $12064 | $11381 |
| **6/30/2019** | $11553 | $12651 | $12056 |
| **7/31/2019** | $11311 | $12529 | $11903 |
| **8/31/2019** | $11097 | $12202 | $11595 |
| **9/30/2019** | $11353 | $12460 | $11927 |
| **10/31/2019** | $11760 | $13004 | $12356 |
| **11/30/2019** | $11895 | $13282 | $12495 |
| **12/31/2019** | $12482 | $13922 | $12901 |
| **1/31/2020** | $11990 | $13484 | $12631 |
| **2/29/2020** | $11115 | $12150 | $11490 |
| **3/31/2020** | $9032 | $9931 | $9956 |
| **4/30/2020** | $10016 | $11112 | $10599 |
| **5/31/2020** | $10638 | $11880 | $11061 |
| **6/30/2020** | $10948 | $12177 | $11437 |
| **7/31/2020** | $11556 | $12816 | $11704 |
| **8/31/2020** | $12178 | $13696 | $12306 |
| **9/30/2020** | $11990 | $13459 | $11986 |
| **10/31/2020** | $11693 | $12987 | $11507 |
| **11/30/2020** | $13335 | $14928 | $13291 |
| **12/31/2020** | $14304 | $15909 | $13909 |
| **1/31/2021** | $14101 | $15864 | $13761 |
| **2/28/2021** | $14550 | $16306 | $14070 |
| **3/31/2021** | $14702 | $16577 | $14393 |
| **4/30/2021** | $15512 | $17298 | $14826 |
| **5/31/2021** | $15859 | $17731 | $15310 |
| **6/30/2021** | $15786 | $17555 | $15137 |
| **7/31/2021** | $16010 | $17678 | $15251 |
| **8/31/2021** | $16444 | $18118 | $15520 |
| **9/30/2021** | $15757 | $17488 | $15070 |
| **10/31/2021** | $15960 | $17778 | $15441 |
| **11/30/2021** | $15121 | $16662 | $14722 |
| **12/31/2021** | $15705 | $17431 | $15476 |
| **1/31/2022** | $14808 | $16124 | $14728 |
| **2/28/2022** | $14407 | $15964 | $14468 |
| **3/31/2022** | $14184 | $16024 | $14561 |
| **4/30/2022** | $13294 | $14890 | $13619 |
| **5/31/2022** | $13465 | $14884 | $13721 |
| **6/30/2022** | $12181 | $13179 | $12448 |
| **7/31/2022** | $12886 | $14019 | $13068 |
| **8/31/2022** | $12055 | $13383 | $12447 |
| **9/30/2022** | $10772 | $11771 | $11283 |
| **10/31/2022** | $11351 | $12335 | $11889 |
| **11/30/2022** | $12730 | $13604 | $13229 |
| **12/31/2022** | $12544 | $13698 | $13239 |
| **1/31/2023** | $13640 | $14889 | $14311 |
| **2/28/2023** | $13421 | $14559 | $14013 |
| **3/31/2023** | $13648 | $14598 | $14360 |
| **4/30/2023** | $13807 | $14806 | $14765 |
| **5/31/2023** | $13225 | $14158 | $14141 |
| **6/30/2023** | $13572 | $14643 | $14784 |
| **7/31/2023** | $14238 | $15377 | $15263 |
| **8/31/2023** | $13867 | $14811 | $14678 |
| **9/30/2023** | $13020 | $14102 | $14176 |
| **10/31/2023** | $12468 | $13257 | $13602 |
| **11/30/2023** | $13678 | $14607 | $14864 |
| **12/31/2023** | $14429 | $15626 | $15654 |
| **1/31/2024** | $14222 | $15263 | $15744 |
| **2/29/2024** | $14406 | $15310 | $16032 |
| **3/31/2024** | $14899 | $15964 | $16559 |
| **4/30/2024** | $14337 | $15547 | $16135 |
| **5/31/2024** | $15022 | $16316 | $16760 |
| **6/30/2024** | $14599 | $15840 | $16490 |
| **7/31/2024** | $15414 | $16507 | $16974 |
| **8/31/2024** | $15945 | $16760 | $17525 |
| **9/30/2024** | $16198 | $17216 | $17687 |
| **10/31/2024** | $15091 | $16208 | $16725 |
| **11/30/2024** | $15083 | $16118 | $16631 |
| **12/31/2024** | $14492 | $15687 | $16252 |
| **1/31/2025** | $14775 | $16209 | $17106 |
| **2/28/2025** | $14877 | $16212 | $17438 |
| **3/31/2025** | $15143 | $16206 | $17368 |
| **4/30/2025** | $16046 | $17168 | $18163 |
| **5/31/2025** | $17169 | $18223 | $18994 |
| **6/30/2025** | $17813 | $19082 | $19413 |
| **7/31/2025** | $17342 | $19194 | $19140 |
| **8/31/2025** | $17907 | $19946 | $19956 |
| **9/30/2025** | $18205 | $20431 | $20338 |
| **10/31/2025** | $17750 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R5 at NAV | 17.62% | 8.71% | 5.91% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LINTX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8753-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LINVX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $100 | 0.92% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 17.72%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 25.35% return of a securities market index with investment characteristics similar to those of the Fund, the S&P Developed Ex US Small Cap Index. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Financials sector contributed to relative performance, led by an overweight allocation to Alpha Bank SA. Security selection within the Industrials sector also contributed to relative performance, led by an overweight allocation to RENK Group AG.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Breedon Group PLC. Security selection within the Consumer Staples sector also detracted from relative performance, led by an overweight allocation to Tate & Lyle PLC.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if62da5d71754ed6d27b52708.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R6** | **S&P Developed Ex US Small Cap Index** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 |
| **11/30/2015** | $10069 | $9953 | $9844 |
| **12/31/2015** | $10040 | $9964 | $9712 |
| **1/31/2016** | $9285 | $9234 | $9009 |
| **2/29/2016** | $9087 | $9222 | $8844 |
| **3/31/2016** | $9920 | $10017 | $9420 |
| **4/30/2016** | $9974 | $10317 | $9693 |
| **5/31/2016** | $10106 | $10305 | $9605 |
| **6/30/2016** | $9513 | $9887 | $9282 |
| **7/31/2016** | $10010 | $10469 | $9753 |
| **8/31/2016** | $9980 | $10399 | $9760 |
| **9/30/2016** | $10220 | $10675 | $9879 |
| **10/31/2016** | $9944 | $10333 | $9677 |
| **11/30/2016** | $9603 | $10066 | $9485 |
| **12/31/2016** | $9738 | $10342 | $9809 |
| **1/31/2017** | $10155 | $10698 | $10093 |
| **2/28/2017** | $10289 | $10912 | $10238 |
| **3/31/2017** | $10712 | $11146 | $10520 |
| **4/30/2017** | $11257 | $11523 | $10787 |
| **5/31/2017** | $11656 | $11985 | $11183 |
| **6/30/2017** | $11723 | $12044 | $11163 |
| **7/31/2017** | $12231 | $12449 | $11485 |
| **8/31/2017** | $12437 | $12544 | $11481 |
| **9/30/2017** | $12728 | $12884 | $11767 |
| **10/31/2017** | $13012 | $13057 | $11945 |
| **11/30/2017** | $13224 | $13293 | $12071 |
| **12/31/2017** | $13475 | $13689 | $12265 |
| **1/31/2018** | $14197 | $14352 | $12880 |
| **2/28/2018** | $13349 | $13748 | $12298 |
| **3/31/2018** | $13260 | $13572 | $12077 |
| **4/30/2018** | $13191 | $13761 | $12352 |
| **5/31/2018** | $12950 | $13695 | $12075 |
| **6/30/2018** | $12703 | $13421 | $11927 |
| **7/31/2018** | $12570 | $13507 | $12221 |
| **8/31/2018** | $12349 | $13491 | $11985 |
| **9/30/2018** | $12260 | $13385 | $12089 |
| **10/31/2018** | $11007 | $12051 | $11127 |
| **11/30/2018** | $10982 | $11949 | $11113 |
| **12/31/2018** | $10315 | $11169 | $10573 |
| **1/31/2019** | $11141 | $12076 | $11268 |
| **2/28/2019** | $11248 | $12389 | $11555 |
| **3/31/2019** | $11312 | $12328 | $11628 |
| **4/30/2019** | $11590 | $12691 | $11955 |
| **5/31/2019** | $11013 | $12064 | $11381 |
| **6/30/2019** | $11604 | $12651 | $12056 |
| **7/31/2019** | $11362 | $12529 | $11903 |
| **8/31/2019** | $11148 | $12202 | $11595 |
| **9/30/2019** | $11405 | $12460 | $11927 |
| **10/31/2019** | $11818 | $13004 | $12356 |
| **11/30/2019** | $11953 | $13282 | $12495 |
| **12/31/2019** | $12542 | $13922 | $12901 |
| **1/31/2020** | $12050 | $13484 | $12631 |
| **2/29/2020** | $11168 | $12150 | $11490 |
| **3/31/2020** | $9072 | $9931 | $9956 |
| **4/30/2020** | $10062 | $11112 | $10599 |
| **5/31/2020** | $10699 | $11880 | $11061 |
| **6/30/2020** | $11002 | $12177 | $11437 |
| **7/31/2020** | $11617 | $12816 | $11704 |
| **8/31/2020** | $12246 | $13696 | $12306 |
| **9/30/2020** | $12058 | $13459 | $11986 |
| **10/31/2020** | $11754 | $12987 | $11507 |
| **11/30/2020** | $13409 | $14928 | $13291 |
| **12/31/2020** | $14385 | $15909 | $13909 |
| **1/31/2021** | $14176 | $15864 | $13761 |
| **2/28/2021** | $14631 | $16306 | $14070 |
| **3/31/2021** | $14783 | $16577 | $14393 |
| **4/30/2021** | $15607 | $17298 | $14826 |
| **5/31/2021** | $15954 | $17731 | $15310 |
| **6/30/2021** | $15882 | $17555 | $15137 |
| **7/31/2021** | $16106 | $17678 | $15251 |
| **8/31/2021** | $16547 | $18118 | $15520 |
| **9/30/2021** | $15860 | $17488 | $15070 |
| **10/31/2021** | $16062 | $17778 | $15441 |
| **11/30/2021** | $15217 | $16662 | $14722 |
| **12/31/2021** | $15808 | $17431 | $15476 |
| **1/31/2022** | $14910 | $16124 | $14728 |
| **2/28/2022** | $14502 | $15964 | $14468 |
| **3/31/2022** | $14280 | $16024 | $14561 |
| **4/30/2022** | $13382 | $14890 | $13619 |
| **5/31/2022** | $13553 | $14884 | $13721 |
| **6/30/2022** | $12269 | $13179 | $12448 |
| **7/31/2022** | $12974 | $14019 | $13068 |
| **8/31/2022** | $12136 | $13383 | $12447 |
| **9/30/2022** | $10853 | $11771 | $11283 |
| **10/31/2022** | $11431 | $12335 | $11889 |
| **11/30/2022** | $12826 | $13604 | $13229 |
| **12/31/2022** | $12636 | $13698 | $13239 |
| **1/31/2023** | $13747 | $14889 | $14311 |
| **2/28/2023** | $13520 | $14559 | $14013 |
| **3/31/2023** | $13747 | $14598 | $14360 |
| **4/30/2023** | $13906 | $14806 | $14765 |
| **5/31/2023** | $13324 | $14158 | $14141 |
| **6/30/2023** | $13679 | $14643 | $14784 |
| **7/31/2023** | $14345 | $15377 | $15263 |
| **8/31/2023** | $13974 | $14811 | $14678 |
| **9/30/2023** | $13127 | $14102 | $14176 |
| **10/31/2023** | $12568 | $13257 | $13602 |
| **11/30/2023** | $13793 | $14607 | $14864 |
| **12/31/2023** | $14539 | $15626 | $15654 |
| **1/31/2024** | $14339 | $15263 | $15744 |
| **2/29/2024** | $14523 | $15310 | $16032 |
| **3/31/2024** | $15016 | $15964 | $16559 |
| **4/30/2024** | $14454 | $15547 | $16135 |
| **5/31/2024** | $15146 | $16316 | $16760 |
| **6/30/2024** | $14723 | $15840 | $16490 |
| **7/31/2024** | $15539 | $16507 | $16974 |
| **8/31/2024** | $16077 | $16760 | $17525 |
| **9/30/2024** | $16331 | $17216 | $17687 |
| **10/31/2024** | $15223 | $16208 | $16725 |
| **11/30/2024** | $15208 | $16118 | $16631 |
| **12/31/2024** | $14625 | $15687 | $16252 |
| **1/31/2025** | $14907 | $16209 | $17106 |
| **2/28/2025** | $15009 | $16212 | $17438 |
| **3/31/2025** | $15284 | $16206 | $17368 |
| **4/30/2025** | $16195 | $17168 | $18163 |
| **5/31/2025** | $17325 | $18223 | $18994 |
| **6/30/2025** | $17977 | $19082 | $19413 |
| **7/31/2025** | $17498 | $19194 | $19140 |
| **8/31/2025** | $18079 | $19946 | $19956 |
| **9/30/2025** | $18377 | $20431 | $20338 |
| **10/31/2025** | $17922 | $20317 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R6 at NAV | 17.72% | 8.80% | 6.01% |
| S&P Developed Ex US Small Cap Index | 25.35% | 9.36% | 7.35% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $317906486 |
| # of Portfolio Holdings | 117 |
| Portfolio Turnover Rate | 98% |
| Total Advisory Fees Paid | $2333012 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 2.39% |
| Consumer Discretionary | 8.17% |
| Consumer Staples | 4.46% |
| Energy | 3.19% |
| Financials | 16.32% |
| Health Care | 4.66% |
| Industrials | 27.65% |
| Information Technology | 13.46% |
| Materials | 7.78% |
| Real Estate | 5.90% |
| Utilities | 1.00% |
| Repurchase Agreements | 3.36% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 1.49% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.17% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LINVX

# Lord Abbett International Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8785-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LIDAX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $109 | 0.96% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.45%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i33063cd223a13571d913b9e1.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with load** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $9425 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9291 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9098 | $9564 | $9567 | $9712 |
| **1/31/2016** | $8708 | $8786 | $8791 | $9009 |
| **2/29/2016** | $8480 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9127 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9277 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9114 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9075 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9336 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9377 | $9550 | $9603 | $9760 |
| **9/30/2016** | $9517 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9282 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9130 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9328 | $10045 | $10111 | $9809 |
| **1/31/2017** | $9523 | $10292 | $10361 | $10093 |
| **2/28/2017** | $9621 | $10362 | $10434 | $10238 |
| **3/31/2017** | $9876 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10002 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10312 | $11127 | $11245 | $11183 |
| **6/30/2017** | $10330 | $11161 | $11283 | $11163 |
| **7/31/2017** | $10729 | $11534 | $11662 | $11485 |
| **8/31/2017** | $10786 | $11462 | $11591 | $11481 |
| **9/30/2017** | $10909 | $11816 | $11954 | $11767 |
| **10/31/2017** | $10923 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11052 | $12014 | $12158 | $12071 |
| **12/31/2017** | $11309 | $12198 | $12347 | $12265 |
| **1/31/2018** | $11941 | $12857 | $13015 | $12880 |
| **2/28/2018** | $11280 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11193 | $11951 | $12116 | $12077 |
| **4/30/2018** | $11251 | $12319 | $12503 | $12352 |
| **5/31/2018** | $10919 | $11785 | $11981 | $12075 |
| **6/30/2018** | $10650 | $11636 | $11833 | $11927 |
| **7/31/2018** | $10943 | $11970 | $12175 | $12221 |
| **8/31/2018** | $10591 | $11534 | $11733 | $11985 |
| **9/30/2018** | $10747 | $11773 | $11983 | $12089 |
| **10/31/2018** | $9935 | $10991 | $11188 | $11127 |
| **11/30/2018** | $9935 | $10930 | $11128 | $11113 |
| **12/31/2018** | $9505 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10112 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10231 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10196 | $11219 | $11442 | $11628 |
| **4/30/2019** | $10465 | $11480 | $11718 | $11955 |
| **5/31/2019** | $9809 | $10815 | $11063 | $11381 |
| **6/30/2019** | $10418 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10190 | $11135 | $11397 | $11903 |
| **8/31/2019** | $9963 | $10678 | $10931 | $11595 |
| **9/30/2019** | $10286 | $11193 | $11466 | $11927 |
| **10/31/2019** | $10621 | $11597 | $11881 | $12356 |
| **11/30/2019** | $10713 | $11643 | $11931 | $12495 |
| **12/31/2019** | $11173 | $12068 | $12369 | $12901 |
| **1/31/2020** | $10776 | $11632 | $11923 | $12631 |
| **2/29/2020** | $9905 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8040 | $8665 | $8895 | $9956 |
| **4/30/2020** | $8607 | $9129 | $9379 | $10599 |
| **5/31/2020** | $8898 | $9407 | $9673 | $11061 |
| **6/30/2020** | $9319 | $9742 | $10023 | $11437 |
| **7/31/2020** | $9504 | $9761 | $10045 | $11704 |
| **8/31/2020** | $9997 | $10332 | $10635 | $12306 |
| **9/30/2020** | $9685 | $9858 | $10154 | $11986 |
| **10/31/2020** | $9359 | $9461 | $9746 | $11507 |
| **11/30/2020** | $10988 | $11253 | $11593 | $13291 |
| **12/31/2020** | $11606 | $11751 | $12109 | $13909 |
| **1/31/2021** | $11324 | $11659 | $12016 | $13761 |
| **2/28/2021** | $11998 | $12215 | $12592 | $14070 |
| **3/31/2021** | $12441 | $12626 | $13030 | $14393 |
| **4/30/2021** | $12723 | $12867 | $13289 | $14826 |
| **5/31/2021** | $13178 | $13313 | $13766 | $15310 |
| **6/30/2021** | $12739 | $13006 | $13453 | $15137 |
| **7/31/2021** | $12691 | $12974 | $13423 | $15251 |
| **8/31/2021** | $12834 | $13121 | $13576 | $15520 |
| **9/30/2021** | $12402 | $12880 | $13345 | $15070 |
| **10/31/2021** | $12769 | $13086 | $13563 | $15441 |
| **11/30/2021** | $12066 | $12298 | $12750 | $14722 |
| **12/31/2021** | $12734 | $13031 | $13511 | $15476 |
| **1/31/2022** | $12912 | $13167 | $13654 | $14728 |
| **2/28/2022** | $12588 | $12988 | $13471 | $14468 |
| **3/31/2022** | $12515 | $13074 | $13580 | $14561 |
| **4/30/2022** | $11881 | $12413 | $12906 | $13619 |
| **5/31/2022** | $12206 | $12719 | $13251 | $13721 |
| **6/30/2022** | $11107 | $11452 | $11935 | $12448 |
| **7/31/2022** | $11340 | $11691 | $12185 | $13068 |
| **8/31/2022** | $10660 | $11296 | $11776 | $12447 |
| **9/30/2022** | $9602 | $10283 | $10727 | $11283 |
| **10/31/2022** | $10271 | $10947 | $11420 | $11889 |
| **11/30/2022** | $11509 | $12150 | $12677 | $13229 |
| **12/31/2022** | $11345 | $12303 | $12843 | $13239 |
| **1/31/2023** | $12320 | $13253 | $13837 | $14311 |
| **2/28/2023** | $12101 | $13067 | $13645 | $14013 |
| **3/31/2023** | $12163 | $13034 | $13631 | $14360 |
| **4/30/2023** | $12534 | $13454 | $14086 | $14765 |
| **5/31/2023** | $11825 | $12729 | $13356 | $14141 |
| **6/30/2023** | $12451 | $13445 | $14113 | $14784 |
| **7/31/2023** | $12948 | $14056 | $14758 | $15263 |
| **8/31/2023** | $12502 | $13639 | $14322 | $14678 |
| **9/30/2023** | $12234 | $13524 | $14209 | $14176 |
| **10/31/2023** | $11718 | $12929 | $13585 | $13602 |
| **11/30/2023** | $12630 | $13953 | $14666 | $14864 |
| **12/31/2023** | $13084 | $14635 | $15385 | $15654 |
| **1/31/2024** | $13015 | $14625 | $15377 | $15744 |
| **2/29/2024** | $13292 | $14652 | $15407 | $16032 |
| **3/31/2024** | $13885 | $15291 | $16108 | $16559 |
| **4/30/2024** | $13728 | $15134 | $15963 | $16135 |
| **5/31/2024** | $14478 | $15731 | $16623 | $16760 |
| **6/30/2024** | $14026 | $15293 | $16166 | $16490 |
| **7/31/2024** | $14701 | $16010 | $16927 | $16974 |
| **8/31/2024** | $15002 | $16419 | $17362 | $17525 |
| **9/30/2024** | $15054 | $16653 | $17618 | $17687 |
| **10/31/2024** | $14359 | $15870 | $16794 | $16725 |
| **11/30/2024** | $14448 | $15748 | $16669 | $16631 |
| **12/31/2024** | $14091 | $15467 | $16375 | $16252 |
| **1/31/2025** | $14647 | $16256 | $17213 | $17106 |
| **2/28/2025** | $15257 | $16862 | $17858 | $17438 |
| **3/31/2025** | $15599 | $17255 | $18302 | $17368 |
| **4/30/2025** | $16121 | $17955 | $19072 | $18163 |
| **5/31/2025** | $16823 | $18676 | $19877 | $18994 |
| **6/30/2025** | $17240 | $19000 | $20228 | $19413 |
| **7/31/2025** | $16910 | $19049 | $20284 | $19140 |
| **8/31/2025** | $17661 | $20139 | $21447 | $19956 |
| **9/30/2025** | $18065 | $20404 | $21742 | $20338 |
| **10/31/2025** | $18157 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | 26.45% | 14.17% | 6.78% |
| Class A with sales charge | 19.20% | 12.82% | 6.15% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LIDAX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2117-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LIDCX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $193 | 1.71% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 25.40%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ie0fb8d0f041bf1f42e7d3469.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with load** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9871 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9644 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9242 | $8786 | $8791 | $9009 |
| **2/29/2016** | $8983 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9658 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9817 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9643 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9597 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9861 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9890 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10034 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9799 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9622 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9813 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10020 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10109 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10374 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10508 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10821 | $11127 | $11245 | $11183 |
| **6/30/2017** | $10835 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11242 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11302 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11425 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11425 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11546 | $12014 | $12158 | $12071 |
| **12/31/2017** | $11825 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12477 | $12857 | $13015 | $12880 |
| **2/28/2018** | $11780 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11665 | $11951 | $12116 | $12077 |
| **4/30/2018** | $11741 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11377 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11086 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11394 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11025 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11166 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10315 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10300 | $10930 | $11128 | $11113 |
| **12/31/2018** | $9860 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10479 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10588 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10562 | $11219 | $11442 | $11628 |
| **4/30/2019** | $10826 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10142 | $10815 | $11063 | $11381 |
| **6/30/2019** | $10772 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10520 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10283 | $10678 | $10931 | $11595 |
| **9/30/2019** | $10599 | $11193 | $11466 | $11927 |
| **10/31/2019** | $10947 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11041 | $11643 | $11931 | $12495 |
| **12/31/2019** | $11499 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11086 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10182 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8263 | $8665 | $8895 | $9956 |
| **4/30/2020** | $8834 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9135 | $9407 | $9673 | $11061 |
| **6/30/2020** | $9568 | $9742 | $10023 | $11437 |
| **7/31/2020** | $9744 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10238 | $10332 | $10635 | $12306 |
| **9/30/2020** | $9906 | $9858 | $10154 | $11986 |
| **10/31/2020** | $9570 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11234 | $11253 | $11593 | $13291 |
| **12/31/2020** | $11849 | $11751 | $12109 | $13909 |
| **1/31/2021** | $11559 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12236 | $12215 | $12592 | $14070 |
| **3/31/2021** | $12688 | $12626 | $13030 | $14393 |
| **4/30/2021** | $12962 | $12867 | $13289 | $14826 |
| **5/31/2021** | $13413 | $13313 | $13766 | $15310 |
| **6/30/2021** | $12967 | $13006 | $13453 | $15137 |
| **7/31/2021** | $12919 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13049 | $13121 | $13576 | $15520 |
| **9/30/2021** | $12595 | $12880 | $13345 | $15070 |
| **10/31/2021** | $12954 | $13086 | $13563 | $15441 |
| **11/30/2021** | $12236 | $12298 | $12750 | $14722 |
| **12/31/2021** | $12909 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13091 | $13167 | $13654 | $14728 |
| **2/28/2022** | $12744 | $12988 | $13471 | $14468 |
| **3/31/2022** | $12676 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12013 | $12413 | $12906 | $13619 |
| **5/31/2022** | $12345 | $12719 | $13251 | $13721 |
| **6/30/2022** | $11216 | $11452 | $11935 | $12448 |
| **7/31/2022** | $11452 | $11691 | $12185 | $13068 |
| **8/31/2022** | $10744 | $11296 | $11776 | $12447 |
| **9/30/2022** | $9677 | $10283 | $10727 | $11283 |
| **10/31/2022** | $10339 | $10947 | $11420 | $11889 |
| **11/30/2022** | $11579 | $12150 | $12677 | $13229 |
| **12/31/2022** | $11423 | $12303 | $12843 | $13239 |
| **1/31/2023** | $12394 | $13253 | $13837 | $14311 |
| **2/28/2023** | $12155 | $13067 | $13645 | $14013 |
| **3/31/2023** | $12224 | $13034 | $13631 | $14360 |
| **4/30/2023** | $12583 | $13454 | $14086 | $14765 |
| **5/31/2023** | $11849 | $12729 | $13356 | $14141 |
| **6/30/2023** | $12488 | $13445 | $14113 | $14784 |
| **7/31/2023** | $12971 | $14056 | $14758 | $15263 |
| **8/31/2023** | $12522 | $13639 | $14322 | $14678 |
| **9/30/2023** | $12226 | $13524 | $14209 | $14176 |
| **10/31/2023** | $11706 | $12929 | $13585 | $13602 |
| **11/30/2023** | $12624 | $13953 | $14666 | $14864 |
| **12/31/2023** | $13074 | $14635 | $15385 | $15654 |
| **1/31/2024** | $12987 | $14625 | $15377 | $15744 |
| **2/29/2024** | $13248 | $14652 | $15407 | $16032 |
| **3/31/2024** | $13835 | $15291 | $16108 | $16559 |
| **4/30/2024** | $13677 | $15134 | $15963 | $16135 |
| **5/31/2024** | $14412 | $15731 | $16623 | $16760 |
| **6/30/2024** | $13964 | $15293 | $16166 | $16490 |
| **7/31/2024** | $14621 | $16010 | $16927 | $16974 |
| **8/31/2024** | $14905 | $16419 | $17362 | $17525 |
| **9/30/2024** | $14964 | $16653 | $17618 | $17687 |
| **10/31/2024** | $14252 | $15870 | $16794 | $16725 |
| **11/30/2024** | $14341 | $15748 | $16669 | $16631 |
| **12/31/2024** | $13970 | $15467 | $16375 | $16252 |
| **1/31/2025** | $14506 | $16256 | $17213 | $17106 |
| **2/28/2025** | $15114 | $16862 | $17858 | $17438 |
| **3/31/2025** | $15429 | $17255 | $18302 | $17368 |
| **4/30/2025** | $15931 | $17955 | $19072 | $18163 |
| **5/31/2025** | $16629 | $18676 | $19877 | $18994 |
| **6/30/2025** | $17013 | $19000 | $20228 | $19413 |
| **7/31/2025** | $16685 | $19049 | $20284 | $19140 |
| **8/31/2025** | $17431 | $20139 | $21447 | $19956 |
| **9/30/2025** | $17799 | $20404 | $21742 | $20338 |
| **10/31/2025** | $17872 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class C at NAV | 25.40% | 13.31% | 5.98% |
| Class C with sales charge | 24.40% | 13.31% | 5.98% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LIDCX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2119-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LIDFX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $92 | 0.81% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.66%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](idd80503193b2f30ebb697874.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9873 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9658 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9259 | $8786 | $8791 | $9009 |
| **2/29/2016** | $9003 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9693 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9851 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9678 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9654 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9932 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9961 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10113 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9878 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9702 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9917 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10139 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10227 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10502 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10652 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10980 | $11127 | $11245 | $11183 |
| **6/30/2017** | $11004 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11427 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11488 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11623 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11653 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11775 | $12014 | $12158 | $12071 |
| **12/31/2017** | $12067 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12740 | $12857 | $13015 | $12880 |
| **2/28/2018** | $12037 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11934 | $11951 | $12116 | $12077 |
| **4/30/2018** | $12010 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11657 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11361 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11688 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11314 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11468 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10619 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10619 | $10930 | $11128 | $11113 |
| **12/31/2018** | $10166 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10813 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10939 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10906 | $11219 | $11442 | $11628 |
| **4/30/2019** | $11192 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10493 | $10815 | $11063 | $11381 |
| **6/30/2019** | $11146 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10903 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10661 | $10678 | $10931 | $11595 |
| **9/30/2019** | $11010 | $11193 | $11466 | $11927 |
| **10/31/2019** | $11367 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11480 | $11643 | $11931 | $12495 |
| **12/31/2019** | $11959 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11552 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10607 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8608 | $8665 | $8895 | $9956 |
| **4/30/2020** | $9212 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9539 | $9407 | $9673 | $11061 |
| **6/30/2020** | $9991 | $9742 | $10023 | $11437 |
| **7/31/2020** | $10188 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10715 | $10332 | $10635 | $12306 |
| **9/30/2020** | $10385 | $9858 | $10154 | $11986 |
| **10/31/2020** | $10037 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11793 | $11253 | $11593 | $13291 |
| **12/31/2020** | $12457 | $11751 | $12109 | $13909 |
| **1/31/2021** | $12156 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12875 | $12215 | $12592 | $14070 |
| **3/31/2021** | $13352 | $12626 | $13030 | $14393 |
| **4/30/2021** | $13654 | $12867 | $13289 | $14826 |
| **5/31/2021** | $14156 | $13313 | $13766 | $15310 |
| **6/30/2021** | $13692 | $13006 | $13453 | $15137 |
| **7/31/2021** | $13642 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13794 | $13121 | $13576 | $15520 |
| **9/30/2021** | $13320 | $12880 | $13345 | $15070 |
| **10/31/2021** | $13730 | $13086 | $13563 | $15441 |
| **11/30/2021** | $12962 | $12298 | $12750 | $14722 |
| **12/31/2021** | $13680 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13888 | $13167 | $13654 | $14728 |
| **2/28/2022** | $13524 | $12988 | $13471 | $14468 |
| **3/31/2022** | $13468 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12773 | $12413 | $12906 | $13619 |
| **5/31/2022** | $13138 | $12719 | $13251 | $13721 |
| **6/30/2022** | $11950 | $11452 | $11935 | $12448 |
| **7/31/2022** | $12198 | $11691 | $12185 | $13068 |
| **8/31/2022** | $11471 | $11296 | $11776 | $12447 |
| **9/30/2022** | $10343 | $10283 | $10727 | $11283 |
| **10/31/2022** | $11059 | $10947 | $11420 | $11889 |
| **11/30/2022** | $12383 | $12150 | $12677 | $13229 |
| **12/31/2022** | $12230 | $12303 | $12843 | $13239 |
| **1/31/2023** | $13273 | $13253 | $13837 | $14311 |
| **2/28/2023** | $13039 | $13067 | $13645 | $14013 |
| **3/31/2023** | $13109 | $13034 | $13631 | $14360 |
| **4/30/2023** | $13506 | $13454 | $14086 | $14765 |
| **5/31/2023** | $12747 | $12729 | $13356 | $14141 |
| **6/30/2023** | $13440 | $13445 | $14113 | $14784 |
| **7/31/2023** | $13954 | $14056 | $14758 | $15263 |
| **8/31/2023** | $13495 | $13639 | $14322 | $14678 |
| **9/30/2023** | $13196 | $13524 | $14209 | $14176 |
| **10/31/2023** | $12644 | $12929 | $13585 | $13602 |
| **11/30/2023** | $13619 | $13953 | $14666 | $14864 |
| **12/31/2023** | $14128 | $14635 | $15385 | $15654 |
| **1/31/2024** | $14035 | $14625 | $15377 | $15744 |
| **2/29/2024** | $14332 | $14652 | $15407 | $16032 |
| **3/31/2024** | $14990 | $15291 | $16108 | $16559 |
| **4/30/2024** | $14822 | $15134 | $15963 | $16135 |
| **5/31/2024** | $15625 | $15731 | $16623 | $16760 |
| **6/30/2024** | $15146 | $15293 | $16166 | $16490 |
| **7/31/2024** | $15887 | $16010 | $16927 | $16974 |
| **8/31/2024** | $16211 | $16419 | $17362 | $17525 |
| **9/30/2024** | $16272 | $16653 | $17618 | $17687 |
| **10/31/2024** | $15508 | $15870 | $16794 | $16725 |
| **11/30/2024** | $15623 | $15748 | $16669 | $16631 |
| **12/31/2024** | $15228 | $15467 | $16375 | $16252 |
| **1/31/2025** | $15823 | $16256 | $17213 | $17106 |
| **2/28/2025** | $16495 | $16862 | $17858 | $17438 |
| **3/31/2025** | $16868 | $17255 | $18302 | $17368 |
| **4/30/2025** | $17427 | $17955 | $19072 | $18163 |
| **5/31/2025** | $18198 | $18676 | $19877 | $18994 |
| **6/30/2025** | $18632 | $19000 | $20228 | $19413 |
| **7/31/2025** | $18279 | $19049 | $20284 | $19140 |
| **8/31/2025** | $19102 | $20139 | $21447 | $19956 |
| **9/30/2025** | $19543 | $20404 | $21742 | $20338 |
| **10/31/2025** | $19642 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class F at NAV | 26.66% | 14.37% | 6.98% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LIDFX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2121-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LIDOX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $71 | 0.63% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.84%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](icb239aeb3b6d6416160fd2fb.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F3** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **4/4/2017** | $10000 | $10000 | $10000 | $10000 |
| **4/30/2017** | $10156 | $10281 | $10287 | $10290 |
| **5/31/2017** | $10484 | $10519 | $10544 | $10668 |
| **6/30/2017** | $10495 | $10551 | $10580 | $10649 |
| **7/31/2017** | $10898 | $10904 | $10935 | $10956 |
| **8/31/2017** | $10970 | $10836 | $10868 | $10952 |
| **9/30/2017** | $11101 | $11170 | $11209 | $11225 |
| **10/31/2017** | $11116 | $11256 | $11297 | $11395 |
| **11/30/2017** | $11246 | $11357 | $11400 | $11515 |
| **12/31/2017** | $11514 | $11531 | $11577 | $11700 |
| **1/31/2018** | $12154 | $12154 | $12204 | $12287 |
| **2/28/2018** | $11485 | $11577 | $11626 | $11732 |
| **3/31/2018** | $11404 | $11298 | $11361 | $11521 |
| **4/30/2018** | $11477 | $11646 | $11723 | $11784 |
| **5/31/2018** | $11140 | $11141 | $11234 | $11519 |
| **6/30/2018** | $10846 | $11000 | $11096 | $11378 |
| **7/31/2018** | $11158 | $11315 | $11416 | $11658 |
| **8/31/2018** | $10816 | $10904 | $11002 | $11433 |
| **9/30/2018** | $10966 | $11129 | $11236 | $11532 |
| **10/31/2018** | $10142 | $10390 | $10491 | $10614 |
| **11/30/2018** | $10142 | $10332 | $10434 | $10601 |
| **12/31/2018** | $9713 | $9827 | $9927 | $10086 |
| **1/31/2019** | $10330 | $10485 | $10593 | $10749 |
| **2/28/2019** | $10450 | $10659 | $10770 | $11023 |
| **3/31/2019** | $10422 | $10605 | $10729 | $11093 |
| **4/30/2019** | $10694 | $10852 | $10988 | $11405 |
| **5/31/2019** | $10028 | $10224 | $10374 | $10857 |
| **6/30/2019** | $10653 | $10769 | $10931 | $11501 |
| **7/31/2019** | $10422 | $10527 | $10687 | $11355 |
| **8/31/2019** | $10191 | $10094 | $10249 | $11061 |
| **9/30/2019** | $10527 | $10581 | $10752 | $11378 |
| **10/31/2019** | $10867 | $10963 | $11141 | $11786 |
| **11/30/2019** | $10975 | $11006 | $11187 | $11919 |
| **12/31/2019** | $11451 | $11408 | $11598 | $12307 |
| **1/31/2020** | $11047 | $10996 | $11180 | $12050 |
| **2/29/2020** | $10145 | $9955 | $10124 | $10960 |
| **3/31/2020** | $8238 | $8191 | $8341 | $9498 |
| **4/30/2020** | $8816 | $8630 | $8795 | $10111 |
| **5/31/2020** | $9128 | $8892 | $9070 | $10551 |
| **6/30/2020** | $9562 | $9209 | $9398 | $10911 |
| **7/31/2020** | $9751 | $9227 | $9419 | $11165 |
| **8/31/2020** | $10270 | $9767 | $9972 | $11739 |
| **9/30/2020** | $9942 | $9319 | $9521 | $11434 |
| **10/31/2020** | $9610 | $8944 | $9138 | $10977 |
| **11/30/2020** | $11288 | $10637 | $10870 | $12679 |
| **12/31/2020** | $11925 | $11109 | $11354 | $13269 |
| **1/31/2021** | $11637 | $11022 | $11267 | $13127 |
| **2/28/2021** | $12325 | $11547 | $11807 | $13422 |
| **3/31/2021** | $12784 | $11936 | $12217 | $13730 |
| **4/30/2021** | $13089 | $12164 | $12461 | $14143 |
| **5/31/2021** | $13553 | $12585 | $12908 | $14605 |
| **6/30/2021** | $13113 | $12295 | $12615 | $14440 |
| **7/31/2021** | $13065 | $12265 | $12586 | $14549 |
| **8/31/2021** | $13227 | $12404 | $12730 | $14806 |
| **9/30/2021** | $12777 | $12176 | $12513 | $14376 |
| **10/31/2021** | $13152 | $12370 | $12718 | $14729 |
| **11/30/2021** | $12434 | $11626 | $11955 | $14044 |
| **12/31/2021** | $13125 | $12319 | $12669 | $14763 |
| **1/31/2022** | $13324 | $12447 | $12803 | $14050 |
| **2/28/2022** | $12976 | $12278 | $12631 | $13801 |
| **3/31/2022** | $12926 | $12360 | $12733 | $13890 |
| **4/30/2022** | $12260 | $11734 | $12102 | $12991 |
| **5/31/2022** | $12593 | $12023 | $12425 | $13089 |
| **6/30/2022** | $11460 | $10826 | $11191 | $11874 |
| **7/31/2022** | $11715 | $11052 | $11426 | $12466 |
| **8/31/2022** | $11001 | $10679 | $11042 | $11874 |
| **9/30/2022** | $9926 | $9721 | $10058 | $10763 |
| **10/31/2022** | $10611 | $10348 | $10708 | $11342 |
| **11/30/2022** | $11897 | $11486 | $11887 | $12619 |
| **12/31/2022** | $11737 | $11631 | $12042 | $12630 |
| **1/31/2023** | $12753 | $12529 | $12975 | $13652 |
| **2/28/2023** | $12512 | $12353 | $12795 | $13367 |
| **3/31/2023** | $12583 | $12321 | $12781 | $13699 |
| **4/30/2023** | $12964 | $12718 | $13208 | $14085 |
| **5/31/2023** | $12237 | $12033 | $12523 | $13489 |
| **6/30/2023** | $12904 | $12710 | $13233 | $14103 |
| **7/31/2023** | $13414 | $13288 | $13838 | $14560 |
| **8/31/2023** | $12957 | $12894 | $13429 | $14002 |
| **9/30/2023** | $12672 | $12784 | $13323 | $13523 |
| **10/31/2023** | $12142 | $12222 | $12739 | $12975 |
| **11/30/2023** | $13096 | $13190 | $13751 | $14180 |
| **12/31/2023** | $13588 | $13835 | $14426 | $14933 |
| **1/31/2024** | $13499 | $13826 | $14418 | $15019 |
| **2/29/2024** | $13785 | $13851 | $14447 | $15294 |
| **3/31/2024** | $14420 | $14455 | $15104 | $15797 |
| **4/30/2024** | $14259 | $14307 | $14968 | $15392 |
| **5/31/2024** | $15048 | $14871 | $15586 | $15988 |
| **6/30/2024** | $14574 | $14457 | $15158 | $15730 |
| **7/31/2024** | $15286 | $15134 | $15872 | $16192 |
| **8/31/2024** | $15597 | $15522 | $16280 | $16718 |
| **9/30/2024** | $15660 | $15742 | $16520 | $16873 |
| **10/31/2024** | $14944 | $15003 | $15747 | $15955 |
| **11/30/2024** | $15035 | $14887 | $15630 | $15865 |
| **12/31/2024** | $14678 | $14621 | $15354 | $15504 |
| **1/31/2025** | $15251 | $15367 | $16140 | $16319 |
| **2/28/2025** | $15897 | $15940 | $16744 | $16635 |
| **3/31/2025** | $16259 | $16312 | $17161 | $16568 |
| **4/30/2025** | $16797 | $16973 | $17883 | $17327 |
| **5/31/2025** | $17539 | $17655 | $18638 | $18120 |
| **6/30/2025** | $17960 | $17961 | $18967 | $18519 |
| **7/31/2025** | $17639 | $18008 | $19019 | $18259 |
| **8/31/2025** | $18432 | $19038 | $20110 | $19037 |
| **9/30/2025** | $18841 | $19289 | $20386 | $19402 |
| **10/31/2025** | $18955 | $19435 | $20544 | $19630 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | 26.84% | 14.55% | 7.74% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 8.06% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.76% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 8.18% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LIDOX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8976-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LAIDX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $80 | 0.71% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.75%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9f5ce11957b1ba0da970aa27.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9859 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9662 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9250 | $8786 | $8791 | $9009 |
| **2/29/2016** | $9008 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9699 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9857 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9685 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9649 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9941 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9970 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10124 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9890 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9714 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9930 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10137 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10241 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10517 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10667 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10995 | $11127 | $11245 | $11183 |
| **6/30/2017** | $11021 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11444 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11504 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11642 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11672 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11794 | $12014 | $12158 | $12071 |
| **12/31/2017** | $12090 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12761 | $12857 | $13015 | $12880 |
| **2/28/2018** | $12059 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11959 | $11951 | $12116 | $12077 |
| **4/30/2018** | $12036 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11683 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11389 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11716 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11342 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11499 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10635 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10635 | $10930 | $11128 | $11113 |
| **12/31/2018** | $10185 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10847 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10958 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10944 | $11219 | $11442 | $11628 |
| **4/30/2019** | $11229 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10531 | $10815 | $11063 | $11381 |
| **6/30/2019** | $11186 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10944 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10701 | $10678 | $10931 | $11595 |
| **9/30/2019** | $11037 | $11193 | $11466 | $11927 |
| **10/31/2019** | $11410 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11508 | $11643 | $11931 | $12495 |
| **12/31/2019** | $12006 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11599 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10652 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8637 | $8665 | $8895 | $9956 |
| **4/30/2020** | $9259 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9570 | $9407 | $9673 | $11061 |
| **6/30/2020** | $10042 | $9742 | $10023 | $11437 |
| **7/31/2020** | $10240 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10767 | $10332 | $10635 | $12306 |
| **9/30/2020** | $10423 | $9858 | $10154 | $11986 |
| **10/31/2020** | $10074 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11850 | $11253 | $11593 | $13291 |
| **12/31/2020** | $12518 | $11751 | $12109 | $13909 |
| **1/31/2021** | $12217 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12937 | $12215 | $12592 | $14070 |
| **3/31/2021** | $13419 | $12626 | $13030 | $14393 |
| **4/30/2021** | $13721 | $12867 | $13289 | $14826 |
| **5/31/2021** | $14225 | $13313 | $13766 | $15310 |
| **6/30/2021** | $13764 | $13006 | $13453 | $15137 |
| **7/31/2021** | $13713 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13866 | $13121 | $13576 | $15520 |
| **9/30/2021** | $13394 | $12880 | $13345 | $15070 |
| **10/31/2021** | $13788 | $13086 | $13563 | $15441 |
| **11/30/2021** | $13035 | $12298 | $12750 | $14722 |
| **12/31/2021** | $13759 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13967 | $13167 | $13654 | $14728 |
| **2/28/2022** | $13602 | $12988 | $13471 | $14468 |
| **3/31/2022** | $13550 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12852 | $12413 | $12906 | $13619 |
| **5/31/2022** | $13218 | $12719 | $13251 | $13721 |
| **6/30/2022** | $12013 | $11452 | $11935 | $12448 |
| **7/31/2022** | $12280 | $11691 | $12185 | $13068 |
| **8/31/2022** | $11550 | $11296 | $11776 | $12447 |
| **9/30/2022** | $10404 | $10283 | $10727 | $11283 |
| **10/31/2022** | $11123 | $10947 | $11420 | $11889 |
| **11/30/2022** | $12470 | $12150 | $12677 | $13229 |
| **12/31/2022** | $12301 | $12303 | $12843 | $13239 |
| **1/31/2023** | $13367 | $13253 | $13837 | $14311 |
| **2/28/2023** | $13114 | $13067 | $13645 | $14013 |
| **3/31/2023** | $13206 | $13034 | $13631 | $14360 |
| **4/30/2023** | $13606 | $13454 | $14086 | $14765 |
| **5/31/2023** | $12825 | $12729 | $13356 | $14141 |
| **6/30/2023** | $13525 | $13445 | $14113 | $14784 |
| **7/31/2023** | $14059 | $14056 | $14758 | $15263 |
| **8/31/2023** | $13580 | $13639 | $14322 | $14678 |
| **9/30/2023** | $13282 | $13524 | $14209 | $14176 |
| **10/31/2023** | $12726 | $12929 | $13585 | $13602 |
| **11/30/2023** | $13727 | $13953 | $14666 | $14864 |
| **12/31/2023** | $14223 | $14635 | $15385 | $15654 |
| **1/31/2024** | $14149 | $14625 | $15377 | $15744 |
| **2/29/2024** | $14448 | $14652 | $15407 | $16032 |
| **3/31/2024** | $15114 | $15291 | $16108 | $16559 |
| **4/30/2024** | $14945 | $15134 | $15963 | $16135 |
| **5/31/2024** | $15753 | $15731 | $16623 | $16760 |
| **6/30/2024** | $15276 | $15293 | $16166 | $16490 |
| **7/31/2024** | $16003 | $16010 | $16927 | $16974 |
| **8/31/2024** | $16328 | $16419 | $17362 | $17525 |
| **9/30/2024** | $16413 | $16653 | $17618 | $17687 |
| **10/31/2024** | $15644 | $15870 | $16794 | $16725 |
| **11/30/2024** | $15759 | $15748 | $16669 | $16631 |
| **12/31/2024** | $15365 | $15467 | $16375 | $16252 |
| **1/31/2025** | $15965 | $16256 | $17213 | $17106 |
| **2/28/2025** | $16643 | $16862 | $17858 | $17438 |
| **3/31/2025** | $17022 | $17255 | $18302 | $17368 |
| **4/30/2025** | $17567 | $17955 | $19072 | $18163 |
| **5/31/2025** | $18363 | $18676 | $19877 | $18994 |
| **6/30/2025** | $18805 | $19000 | $20228 | $19413 |
| **7/31/2025** | $18449 | $19049 | $20284 | $19140 |
| **8/31/2025** | $19280 | $20139 | $21447 | $19956 |
| **9/30/2025** | $19729 | $20404 | $21742 | $20338 |
| **10/31/2025** | $19828 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | 26.75% | 14.50% | 7.08% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LAIDX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2120-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R2

# LIDRX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R2 | $148 | 1.31% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 25.93%, reflecting performance at the net asset value (NAV) of Class R2 shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i78ce3d8e481c2c2cd495e6dd.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R2** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9861 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9652 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9233 | $8786 | $8791 | $9009 |
| **2/29/2016** | $8982 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9661 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9830 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9646 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9609 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9894 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9923 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10059 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9830 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9644 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9854 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10056 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10157 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10427 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10558 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10878 | $11127 | $11245 | $11183 |
| **6/30/2017** | $10902 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11313 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11372 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11502 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11517 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11635 | $12014 | $12158 | $12071 |
| **12/31/2017** | $11917 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12568 | $12857 | $13015 | $12880 |
| **2/28/2018** | $11873 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11772 | $11951 | $12116 | $12077 |
| **4/30/2018** | $11847 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11490 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11189 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11505 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11128 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11278 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10429 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10429 | $10930 | $11128 | $11113 |
| **12/31/2018** | $9980 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10603 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10724 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10695 | $11219 | $11442 | $11628 |
| **4/30/2019** | $10970 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10282 | $10815 | $11063 | $11381 |
| **6/30/2019** | $10913 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10680 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10432 | $10678 | $10931 | $11595 |
| **9/30/2019** | $10754 | $11193 | $11466 | $11927 |
| **10/31/2019** | $11112 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11190 | $11643 | $11931 | $12495 |
| **12/31/2019** | $11672 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11252 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10334 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8373 | $8665 | $8895 | $9956 |
| **4/30/2020** | $8964 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9275 | $9407 | $9673 | $11061 |
| **6/30/2020** | $9710 | $9742 | $10023 | $11437 |
| **7/31/2020** | $9898 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10414 | $10332 | $10635 | $12306 |
| **9/30/2020** | $10073 | $9858 | $10154 | $11986 |
| **10/31/2020** | $9726 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11426 | $11253 | $11593 | $13291 |
| **12/31/2020** | $12074 | $11751 | $12109 | $13909 |
| **1/31/2021** | $11772 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12471 | $12215 | $12592 | $14070 |
| **3/31/2021** | $12923 | $12626 | $13030 | $14393 |
| **4/30/2021** | $13209 | $12867 | $13289 | $14826 |
| **5/31/2021** | $13685 | $13313 | $13766 | $15310 |
| **6/30/2021** | $13229 | $13006 | $13453 | $15137 |
| **7/31/2021** | $13165 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13309 | $13121 | $13576 | $15520 |
| **9/30/2021** | $12861 | $12880 | $13345 | $15070 |
| **10/31/2021** | $13231 | $13086 | $13563 | $15441 |
| **11/30/2021** | $12506 | $12298 | $12750 | $14722 |
| **12/31/2021** | $13184 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13380 | $13167 | $13654 | $14728 |
| **2/28/2022** | $13021 | $12988 | $13471 | $14468 |
| **3/31/2022** | $12958 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12287 | $12413 | $12906 | $13619 |
| **5/31/2022** | $12631 | $12719 | $13251 | $13721 |
| **6/30/2022** | $11482 | $11452 | $11935 | $12448 |
| **7/31/2022** | $11715 | $11691 | $12185 | $13068 |
| **8/31/2022** | $11015 | $11296 | $11776 | $12447 |
| **9/30/2022** | $9923 | $10283 | $10727 | $11283 |
| **10/31/2022** | $10596 | $10947 | $11420 | $11889 |
| **11/30/2022** | $11874 | $12150 | $12677 | $13229 |
| **12/31/2022** | $11717 | $12303 | $12843 | $13239 |
| **1/31/2023** | $12713 | $13253 | $13837 | $14311 |
| **2/28/2023** | $12476 | $13067 | $13645 | $14013 |
| **3/31/2023** | $12544 | $13034 | $13631 | $14360 |
| **4/30/2023** | $12917 | $13454 | $14086 | $14765 |
| **5/31/2023** | $12189 | $12729 | $13356 | $14141 |
| **6/30/2023** | $12840 | $13445 | $14113 | $14784 |
| **7/31/2023** | $13337 | $14056 | $14758 | $15263 |
| **8/31/2023** | $12874 | $13639 | $14322 | $14678 |
| **9/30/2023** | $12596 | $13524 | $14209 | $14176 |
| **10/31/2023** | $12061 | $12929 | $13585 | $13602 |
| **11/30/2023** | $12993 | $13953 | $14666 | $14864 |
| **12/31/2023** | $13472 | $14635 | $15385 | $15654 |
| **1/31/2024** | $13367 | $14625 | $15377 | $15744 |
| **2/29/2024** | $13663 | $14652 | $15407 | $16032 |
| **3/31/2024** | $14280 | $15291 | $16108 | $16559 |
| **4/30/2024** | $14105 | $15134 | $15963 | $16135 |
| **5/31/2024** | $14873 | $15731 | $16623 | $16760 |
| **6/30/2024** | $14408 | $15293 | $16166 | $16490 |
| **7/31/2024** | $15100 | $16010 | $16927 | $16974 |
| **8/31/2024** | $15402 | $16419 | $17362 | $17525 |
| **9/30/2024** | $15456 | $16653 | $17618 | $17687 |
| **10/31/2024** | $14726 | $15870 | $16794 | $16725 |
| **11/30/2024** | $14815 | $15748 | $16669 | $16631 |
| **12/31/2024** | $14446 | $15467 | $16375 | $16252 |
| **1/31/2025** | $15000 | $16256 | $17213 | $17106 |
| **2/28/2025** | $15626 | $16862 | $17858 | $17438 |
| **3/31/2025** | $15972 | $17255 | $18302 | $17368 |
| **4/30/2025** | $16492 | $17955 | $19072 | $18163 |
| **5/31/2025** | $17227 | $18676 | $19877 | $18994 |
| **6/30/2025** | $17628 | $19000 | $20228 | $19413 |
| **7/31/2025** | $17300 | $19049 | $20284 | $19140 |
| **8/31/2025** | $18065 | $20139 | $21447 | $19956 |
| **9/30/2025** | $18470 | $20404 | $21742 | $20338 |
| **10/31/2025** | $18544 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R2 at NAV | 25.93% | 13.78% | 6.37% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R2

# LIDRX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2122-R2

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LIRRX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $137 | 1.21% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.05%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9322ed16fbf541e96e262bdd.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R3** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9873 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9651 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9241 | $8786 | $8791 | $9009 |
| **2/29/2016** | $8987 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9676 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9833 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9662 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9629 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9904 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9933 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10089 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9842 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9668 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9869 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10089 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10177 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10452 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10585 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10909 | $11127 | $11245 | $11183 |
| **6/30/2017** | $10922 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11339 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11398 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11535 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11550 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11670 | $12014 | $12158 | $12071 |
| **12/31/2017** | $11946 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12608 | $12857 | $13015 | $12880 |
| **2/28/2018** | $11916 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11813 | $11951 | $12116 | $12077 |
| **4/30/2018** | $11874 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11527 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11224 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11545 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11178 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11333 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10470 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10470 | $10930 | $11128 | $11113 |
| **12/31/2018** | $10016 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10648 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10772 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10744 | $11219 | $11442 | $11628 |
| **4/30/2019** | $11024 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10325 | $10815 | $11063 | $11381 |
| **6/30/2019** | $10968 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10731 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10479 | $10678 | $10931 | $11595 |
| **9/30/2019** | $10809 | $11193 | $11466 | $11927 |
| **10/31/2019** | $11157 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11268 | $11643 | $11931 | $12495 |
| **12/31/2019** | $11740 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11327 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10405 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8445 | $8665 | $8895 | $9956 |
| **4/30/2020** | $9034 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9336 | $9407 | $9673 | $11061 |
| **6/30/2020** | $9783 | $9742 | $10023 | $11437 |
| **7/31/2020** | $9975 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10487 | $10332 | $10635 | $12306 |
| **9/30/2020** | $10156 | $9858 | $10154 | $11986 |
| **10/31/2020** | $9818 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11524 | $11253 | $11593 | $13291 |
| **12/31/2020** | $12173 | $11751 | $12109 | $13909 |
| **1/31/2021** | $11881 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12563 | $12215 | $12592 | $14070 |
| **3/31/2021** | $13030 | $12626 | $13030 | $14393 |
| **4/30/2021** | $13322 | $12867 | $13289 | $14826 |
| **5/31/2021** | $13793 | $13313 | $13766 | $15310 |
| **6/30/2021** | $13346 | $13006 | $13453 | $15137 |
| **7/31/2021** | $13297 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13428 | $13121 | $13576 | $15520 |
| **9/30/2021** | $12972 | $12880 | $13345 | $15070 |
| **10/31/2021** | $13352 | $13086 | $13563 | $15441 |
| **11/30/2021** | $12609 | $12298 | $12750 | $14722 |
| **12/31/2021** | $13307 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13508 | $13167 | $13654 | $14728 |
| **2/28/2022** | $13157 | $12988 | $13471 | $14468 |
| **3/31/2022** | $13091 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12420 | $12413 | $12906 | $13619 |
| **5/31/2022** | $12755 | $12719 | $13251 | $13721 |
| **6/30/2022** | $11596 | $11452 | $11935 | $12448 |
| **7/31/2022** | $11852 | $11691 | $12185 | $13068 |
| **8/31/2022** | $11134 | $11296 | $11776 | $12447 |
| **9/30/2022** | $10036 | $10283 | $10727 | $11283 |
| **10/31/2022** | $10725 | $10947 | $11420 | $11889 |
| **11/30/2022** | $12001 | $12150 | $12677 | $13229 |
| **12/31/2022** | $11842 | $12303 | $12843 | $13239 |
| **1/31/2023** | $12846 | $13253 | $13837 | $14311 |
| **2/28/2023** | $12621 | $13067 | $13645 | $14013 |
| **3/31/2023** | $12694 | $13034 | $13631 | $14360 |
| **4/30/2023** | $13059 | $13454 | $14086 | $14765 |
| **5/31/2023** | $12311 | $12729 | $13356 | $14141 |
| **6/30/2023** | $12982 | $13445 | $14113 | $14784 |
| **7/31/2023** | $13493 | $14056 | $14758 | $15263 |
| **8/31/2023** | $13035 | $13639 | $14322 | $14678 |
| **9/30/2023** | $12732 | $13524 | $14209 | $14176 |
| **10/31/2023** | $12201 | $12929 | $13585 | $13602 |
| **11/30/2023** | $13157 | $13953 | $14666 | $14864 |
| **12/31/2023** | $13633 | $14635 | $15385 | $15654 |
| **1/31/2024** | $13544 | $14625 | $15377 | $15744 |
| **2/29/2024** | $13830 | $14652 | $15407 | $16032 |
| **3/31/2024** | $14445 | $15291 | $16108 | $16559 |
| **4/30/2024** | $14284 | $15134 | $15963 | $16135 |
| **5/31/2024** | $15055 | $15731 | $16623 | $16760 |
| **6/30/2024** | $14580 | $15293 | $16166 | $16490 |
| **7/31/2024** | $15291 | $16010 | $16927 | $16974 |
| **8/31/2024** | $15583 | $16419 | $17362 | $17525 |
| **9/30/2024** | $15644 | $16653 | $17618 | $17687 |
| **10/31/2024** | $14912 | $15870 | $16794 | $16725 |
| **11/30/2024** | $15004 | $15748 | $16669 | $16631 |
| **12/31/2024** | $14628 | $15467 | $16375 | $16252 |
| **1/31/2025** | $15198 | $16256 | $17213 | $17106 |
| **2/28/2025** | $15841 | $16862 | $17858 | $17438 |
| **3/31/2025** | $16183 | $17255 | $18302 | $17368 |
| **4/30/2025** | $16717 | $17955 | $19072 | $18163 |
| **5/31/2025** | $17455 | $18676 | $19877 | $18994 |
| **6/30/2025** | $17871 | $19000 | $20228 | $19413 |
| **7/31/2025** | $17534 | $19049 | $20284 | $19140 |
| **8/31/2025** | $18320 | $20139 | $21447 | $19956 |
| **9/30/2025** | $18722 | $20404 | $21742 | $20338 |
| **10/31/2025** | $18798 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R3 at NAV | 26.05% | 13.87% | 6.51% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LIRRX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2123-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LIRSX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $109 | 0.96% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.39%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i7c3eac6bc5e2162e2a5b3e37.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R4** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9858 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9655 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9241 | $8786 | $8791 | $9009 |
| **2/29/2016** | $8999 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9672 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9830 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9672 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9631 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9908 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9952 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10101 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9852 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9690 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9886 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10108 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10197 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10471 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10606 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10934 | $11127 | $11245 | $11183 |
| **6/30/2017** | $10955 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11378 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11439 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11570 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11586 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11722 | $12014 | $12158 | $12071 |
| **12/31/2017** | $11996 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12668 | $12857 | $13015 | $12880 |
| **2/28/2018** | $11966 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11870 | $11951 | $12116 | $12077 |
| **4/30/2018** | $11947 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11594 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11294 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11605 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11247 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11398 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10536 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10536 | $10930 | $11128 | $11113 |
| **12/31/2018** | $10081 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10725 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10851 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10815 | $11219 | $11442 | $11628 |
| **4/30/2019** | $11100 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10403 | $10815 | $11063 | $11381 |
| **6/30/2019** | $11049 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10808 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10566 | $10678 | $10931 | $11595 |
| **9/30/2019** | $10894 | $11193 | $11466 | $11927 |
| **10/31/2019** | $11265 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11362 | $11643 | $11931 | $12495 |
| **12/31/2019** | $11851 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11429 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10504 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8525 | $8665 | $8895 | $9956 |
| **4/30/2020** | $9127 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9436 | $9407 | $9673 | $11061 |
| **6/30/2020** | $9882 | $9742 | $10023 | $11437 |
| **7/31/2020** | $10079 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10604 | $10332 | $10635 | $12306 |
| **9/30/2020** | $10271 | $9858 | $10154 | $11986 |
| **10/31/2020** | $9925 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11656 | $11253 | $11593 | $13291 |
| **12/31/2020** | $12297 | $11751 | $12109 | $13909 |
| **1/31/2021** | $12014 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12713 | $12215 | $12592 | $14070 |
| **3/31/2021** | $13184 | $12626 | $13030 | $14393 |
| **4/30/2021** | $13484 | $12867 | $13289 | $14826 |
| **5/31/2021** | $13967 | $13313 | $13766 | $15310 |
| **6/30/2021** | $13518 | $13006 | $13453 | $15137 |
| **7/31/2021** | $13467 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13602 | $13121 | $13576 | $15520 |
| **9/30/2021** | $13143 | $12880 | $13345 | $15070 |
| **10/31/2021** | $13533 | $13086 | $13563 | $15441 |
| **11/30/2021** | $12787 | $12298 | $12750 | $14722 |
| **12/31/2021** | $13496 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13702 | $13167 | $13654 | $14728 |
| **2/28/2022** | $13341 | $12988 | $13471 | $14468 |
| **3/31/2022** | $13281 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12590 | $12413 | $12906 | $13619 |
| **5/31/2022** | $12935 | $12719 | $13251 | $13721 |
| **6/30/2022** | $11768 | $11452 | $11935 | $12448 |
| **7/31/2022** | $12032 | $11691 | $12185 | $13068 |
| **8/31/2022** | $11292 | $11296 | $11776 | $12447 |
| **9/30/2022** | $10185 | $10283 | $10727 | $11283 |
| **10/31/2022** | $10878 | $10947 | $11420 | $11889 |
| **11/30/2022** | $12193 | $12150 | $12677 | $13229 |
| **12/31/2022** | $12019 | $12303 | $12843 | $13239 |
| **1/31/2023** | $13055 | $13253 | $13837 | $14311 |
| **2/28/2023** | $12823 | $13067 | $13645 | $14013 |
| **3/31/2023** | $12889 | $13034 | $13631 | $14360 |
| **4/30/2023** | $13284 | $13454 | $14086 | $14765 |
| **5/31/2023** | $12530 | $12729 | $13356 | $14141 |
| **6/30/2023** | $13214 | $13445 | $14113 | $14784 |
| **7/31/2023** | $13723 | $14056 | $14758 | $15263 |
| **8/31/2023** | $13268 | $13639 | $14322 | $14678 |
| **9/30/2023** | $12962 | $13524 | $14209 | $14176 |
| **10/31/2023** | $12413 | $12929 | $13585 | $13602 |
| **11/30/2023** | $13382 | $13953 | $14666 | $14864 |
| **12/31/2023** | $13865 | $14635 | $15385 | $15654 |
| **1/31/2024** | $13791 | $14625 | $15377 | $15744 |
| **2/29/2024** | $14086 | $14652 | $15407 | $16032 |
| **3/31/2024** | $14716 | $15291 | $16108 | $16559 |
| **4/30/2024** | $14550 | $15134 | $15963 | $16135 |
| **5/31/2024** | $15347 | $15731 | $16623 | $16760 |
| **6/30/2024** | $14867 | $15293 | $16166 | $16490 |
| **7/31/2024** | $15584 | $16010 | $16927 | $16974 |
| **8/31/2024** | $15905 | $16419 | $17362 | $17525 |
| **9/30/2024** | $15960 | $16653 | $17618 | $17687 |
| **10/31/2024** | $15221 | $15870 | $16794 | $16725 |
| **11/30/2024** | $15315 | $15748 | $16669 | $16631 |
| **12/31/2024** | $14937 | $15467 | $16375 | $16252 |
| **1/31/2025** | $15509 | $16256 | $17213 | $17106 |
| **2/28/2025** | $16175 | $16862 | $17858 | $17438 |
| **3/31/2025** | $16539 | $17255 | $18302 | $17368 |
| **4/30/2025** | $17075 | $17955 | $19072 | $18163 |
| **5/31/2025** | $17839 | $18676 | $19877 | $18994 |
| **6/30/2025** | $18262 | $19000 | $20228 | $19413 |
| **7/31/2025** | $17912 | $19049 | $20284 | $19140 |
| **8/31/2025** | $18729 | $20139 | $21447 | $19956 |
| **9/30/2025** | $19140 | $20404 | $21742 | $20338 |
| **10/31/2025** | $19237 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R4 at NAV | 26.39% | 14.15% | 6.76% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LIRSX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8725-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LIRTX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $80 | 0.71% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.76%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i32ec44e249cbdd78a30b54bd.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R5** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9859 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9648 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9250 | $8786 | $8791 | $9009 |
| **2/29/2016** | $8994 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9685 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9843 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9685 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9650 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9927 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9971 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10111 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9876 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9701 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9917 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10139 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10227 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10505 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10654 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10982 | $11127 | $11245 | $11183 |
| **6/30/2017** | $11009 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11431 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11492 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11629 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11645 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11782 | $12014 | $12158 | $12071 |
| **12/31/2017** | $12077 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12734 | $12857 | $13015 | $12880 |
| **2/28/2018** | $12032 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11946 | $11951 | $12116 | $12077 |
| **4/30/2018** | $12023 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11670 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11361 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11689 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11330 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11487 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10623 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10623 | $10930 | $11128 | $11113 |
| **12/31/2018** | $10173 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10819 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10945 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10916 | $11219 | $11442 | $11628 |
| **4/30/2019** | $11202 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10503 | $10815 | $11063 | $11381 |
| **6/30/2019** | $11159 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10916 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10674 | $10678 | $10931 | $11595 |
| **9/30/2019** | $11009 | $11193 | $11466 | $11927 |
| **10/31/2019** | $11383 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11480 | $11643 | $11931 | $12495 |
| **12/31/2019** | $11979 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11571 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10625 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8625 | $8665 | $8895 | $9956 |
| **4/30/2020** | $9231 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9542 | $9407 | $9673 | $11061 |
| **6/30/2020** | $10014 | $9742 | $10023 | $11437 |
| **7/31/2020** | $10212 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10740 | $10332 | $10635 | $12306 |
| **9/30/2020** | $10395 | $9858 | $10154 | $11986 |
| **10/31/2020** | $10047 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11807 | $11253 | $11593 | $13291 |
| **12/31/2020** | $12475 | $11751 | $12109 | $13909 |
| **1/31/2021** | $12173 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12894 | $12215 | $12592 | $14070 |
| **3/31/2021** | $13377 | $12626 | $13030 | $14393 |
| **4/30/2021** | $13696 | $12867 | $13289 | $14826 |
| **5/31/2021** | $14183 | $13313 | $13766 | $15310 |
| **6/30/2021** | $13721 | $13006 | $13453 | $15137 |
| **7/31/2021** | $13670 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13823 | $13121 | $13576 | $15520 |
| **9/30/2021** | $13352 | $12880 | $13345 | $15070 |
| **10/31/2021** | $13746 | $13086 | $13563 | $15441 |
| **11/30/2021** | $12992 | $12298 | $12750 | $14722 |
| **12/31/2021** | $13717 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13925 | $13167 | $13654 | $14728 |
| **2/28/2022** | $13560 | $12988 | $13471 | $14468 |
| **3/31/2022** | $13507 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12809 | $12413 | $12906 | $13619 |
| **5/31/2022** | $13176 | $12719 | $13251 | $13721 |
| **6/30/2022** | $11987 | $11452 | $11935 | $12448 |
| **7/31/2022** | $12237 | $11691 | $12185 | $13068 |
| **8/31/2022** | $11506 | $11296 | $11776 | $12447 |
| **9/30/2022** | $10377 | $10283 | $10727 | $11283 |
| **10/31/2022** | $11079 | $10947 | $11420 | $11889 |
| **11/30/2022** | $12428 | $12150 | $12677 | $13229 |
| **12/31/2022** | $12258 | $12303 | $12843 | $13239 |
| **1/31/2023** | $13307 | $13253 | $13837 | $14311 |
| **2/28/2023** | $13072 | $13067 | $13645 | $14013 |
| **3/31/2023** | $13146 | $13034 | $13631 | $14360 |
| **4/30/2023** | $13546 | $13454 | $14086 | $14765 |
| **5/31/2023** | $12783 | $12729 | $13356 | $14141 |
| **6/30/2023** | $13484 | $13445 | $14113 | $14784 |
| **7/31/2023** | $14000 | $14056 | $14758 | $15263 |
| **8/31/2023** | $13539 | $13639 | $14322 | $14678 |
| **9/30/2023** | $13241 | $13524 | $14209 | $14176 |
| **10/31/2023** | $12684 | $12929 | $13585 | $13602 |
| **11/30/2023** | $13686 | $13953 | $14666 | $14864 |
| **12/31/2023** | $14183 | $14635 | $15385 | $15654 |
| **1/31/2024** | $14090 | $14625 | $15377 | $15744 |
| **2/29/2024** | $14408 | $14652 | $15407 | $16032 |
| **3/31/2024** | $15056 | $15291 | $16108 | $16559 |
| **4/30/2024** | $14887 | $15134 | $15963 | $16135 |
| **5/31/2024** | $15696 | $15731 | $16623 | $16760 |
| **6/30/2024** | $15218 | $15293 | $16166 | $16490 |
| **7/31/2024** | $15965 | $16010 | $16927 | $16974 |
| **8/31/2024** | $16291 | $16419 | $17362 | $17525 |
| **9/30/2024** | $16357 | $16653 | $17618 | $17687 |
| **10/31/2024** | $15586 | $15870 | $16794 | $16725 |
| **11/30/2024** | $15702 | $15748 | $16669 | $16631 |
| **12/31/2024** | $15307 | $15467 | $16375 | $16252 |
| **1/31/2025** | $15908 | $16256 | $17213 | $17106 |
| **2/28/2025** | $16586 | $16862 | $17858 | $17438 |
| **3/31/2025** | $16967 | $17255 | $18302 | $17368 |
| **4/30/2025** | $17511 | $17955 | $19072 | $18163 |
| **5/31/2025** | $18290 | $18676 | $19877 | $18994 |
| **6/30/2025** | $18751 | $19000 | $20228 | $19413 |
| **7/31/2025** | $18395 | $19049 | $20284 | $19140 |
| **8/31/2025** | $19227 | $20139 | $21447 | $19956 |
| **9/30/2025** | $19657 | $20404 | $21742 | $20338 |
| **10/31/2025** | $19756 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R5 at NAV | 26.76% | 14.48% | 7.05% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LIRTX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8757-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LIRVX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett International Value Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388.

## **What were the Fund costs for the last year?** 

## *(based on a hypothetical $10,000 investment)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $71 | 0.63% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 26.84%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 29.55% return of a securities market index with investment characteristics similar to those of the Fund, the MSCI EAFE Value Index with Net Dividends. The Fund's broad-based securities market index, the MSCI EAFE Net Index, returned 23.03% over the same period.

Positive factors for the markets included central banks' generally ongoing doveish monetary policy, healthy corporate earnings results across developed and emerging markets, reports reflecting resilient economic data, and secular tailwinds such as generative artificial intelligence and spending on defense and infrastructure. Market uncertainty around the effects of tariffs was the primary headwind over the period.

**Top contributors to performance:** Security selection within the Information Technology sector contributed to relative performance, led by an overweight allocation to Samsung Electronics Co., Ltd. Security selection within the Health Care sector also contributed to relative performance, led by an overweight allocation to Fresenius SE & Co. KGaA.

**Top detractors from performance:** Security selection within the Materials sector detracted from relative performance, led by an overweight allocation to Teck Resources Ltd. Security selection within the Consumer Discretionary sector also detracted from relative performance, led by an overweight allocation to Sodexo SA.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i0da391e914cc55c9aa25e330.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **MSCI EAFE Value Index with Net Dividends** | **MSCI EAFE Value Index with the Gross Dividends** | **MSCI EAFE Net Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9859 | $9752 | $9753 | $9844 |
| **12/31/2015** | $9662 | $9564 | $9567 | $9712 |
| **1/31/2016** | $9250 | $8786 | $8791 | $9009 |
| **2/29/2016** | $9009 | $8616 | $8624 | $8844 |
| **3/31/2016** | $9686 | $9184 | $9200 | $9420 |
| **4/30/2016** | $9858 | $9547 | $9575 | $9693 |
| **5/31/2016** | $9686 | $9395 | $9438 | $9605 |
| **6/30/2016** | $9650 | $8928 | $8976 | $9282 |
| **7/31/2016** | $9942 | $9398 | $9448 | $9753 |
| **8/31/2016** | $9971 | $9550 | $9603 | $9760 |
| **9/30/2016** | $10126 | $9642 | $9702 | $9879 |
| **10/31/2016** | $9891 | $9665 | $9725 | $9677 |
| **11/30/2016** | $9716 | $9605 | $9666 | $9485 |
| **12/31/2016** | $9932 | $10045 | $10111 | $9809 |
| **1/31/2017** | $10139 | $10292 | $10361 | $10093 |
| **2/28/2017** | $10242 | $10362 | $10434 | $10238 |
| **3/31/2017** | $10520 | $10652 | $10739 | $10520 |
| **4/30/2017** | $10669 | $10876 | $10971 | $10787 |
| **5/31/2017** | $10997 | $11127 | $11245 | $11183 |
| **6/30/2017** | $11009 | $11161 | $11283 | $11163 |
| **7/31/2017** | $11432 | $11534 | $11662 | $11485 |
| **8/31/2017** | $11507 | $11462 | $11591 | $11481 |
| **9/30/2017** | $11645 | $11816 | $11954 | $11767 |
| **10/31/2017** | $11660 | $11907 | $12048 | $11945 |
| **11/30/2017** | $11797 | $12014 | $12158 | $12071 |
| **12/31/2017** | $12093 | $12198 | $12347 | $12265 |
| **1/31/2018** | $12765 | $12857 | $13015 | $12880 |
| **2/28/2018** | $12047 | $12246 | $12399 | $12298 |
| **3/31/2018** | $11962 | $11951 | $12116 | $12077 |
| **4/30/2018** | $12039 | $12319 | $12503 | $12352 |
| **5/31/2018** | $11686 | $11785 | $11981 | $12075 |
| **6/30/2018** | $11393 | $11636 | $11833 | $11927 |
| **7/31/2018** | $11704 | $11970 | $12175 | $12221 |
| **8/31/2018** | $11346 | $11534 | $11733 | $11985 |
| **9/30/2018** | $11503 | $11773 | $11983 | $12089 |
| **10/31/2018** | $10639 | $10991 | $11188 | $11127 |
| **11/30/2018** | $10639 | $10930 | $11128 | $11113 |
| **12/31/2018** | $10189 | $10396 | $10587 | $10573 |
| **1/31/2019** | $10835 | $11091 | $11297 | $11268 |
| **2/28/2019** | $10961 | $11276 | $11486 | $11555 |
| **3/31/2019** | $10932 | $11219 | $11442 | $11628 |
| **4/30/2019** | $11218 | $11480 | $11718 | $11955 |
| **5/31/2019** | $10519 | $10815 | $11063 | $11381 |
| **6/30/2019** | $11175 | $11392 | $11658 | $12056 |
| **7/31/2019** | $10932 | $11135 | $11397 | $11903 |
| **8/31/2019** | $10706 | $10678 | $10931 | $11595 |
| **9/30/2019** | $11042 | $11193 | $11466 | $11927 |
| **10/31/2019** | $11399 | $11597 | $11881 | $12356 |
| **11/30/2019** | $11513 | $11643 | $11931 | $12495 |
| **12/31/2019** | $12012 | $12068 | $12369 | $12901 |
| **1/31/2020** | $11588 | $11632 | $11923 | $12631 |
| **2/29/2020** | $10657 | $10531 | $10797 | $11490 |
| **3/31/2020** | $8642 | $8665 | $8895 | $9956 |
| **4/30/2020** | $9247 | $9129 | $9379 | $10599 |
| **5/31/2020** | $9575 | $9407 | $9673 | $11061 |
| **6/30/2020** | $10031 | $9742 | $10023 | $11437 |
| **7/31/2020** | $10229 | $9761 | $10045 | $11704 |
| **8/31/2020** | $10773 | $10332 | $10635 | $12306 |
| **9/30/2020** | $10429 | $9858 | $10154 | $11986 |
| **10/31/2020** | $10080 | $9461 | $9746 | $11507 |
| **11/30/2020** | $11840 | $11253 | $11593 | $13291 |
| **12/31/2020** | $12509 | $11751 | $12109 | $13909 |
| **1/31/2021** | $12207 | $11659 | $12016 | $13761 |
| **2/28/2021** | $12945 | $12215 | $12592 | $14070 |
| **3/31/2021** | $13410 | $12626 | $13030 | $14393 |
| **4/30/2021** | $13730 | $12867 | $13289 | $14826 |
| **5/31/2021** | $14217 | $13313 | $13766 | $15310 |
| **6/30/2021** | $13772 | $13006 | $13453 | $15137 |
| **7/31/2021** | $13704 | $12974 | $13423 | $15251 |
| **8/31/2021** | $13874 | $13121 | $13576 | $15520 |
| **9/30/2021** | $13403 | $12880 | $13345 | $15070 |
| **10/31/2021** | $13796 | $13086 | $13563 | $15441 |
| **11/30/2021** | $13043 | $12298 | $12750 | $14722 |
| **12/31/2021** | $13767 | $13031 | $13511 | $15476 |
| **1/31/2022** | $13976 | $13167 | $13654 | $14728 |
| **2/28/2022** | $13611 | $12988 | $13471 | $14468 |
| **3/31/2022** | $13559 | $13074 | $13580 | $14561 |
| **4/30/2022** | $12861 | $12413 | $12906 | $13619 |
| **5/31/2022** | $13210 | $12719 | $13251 | $13721 |
| **6/30/2022** | $12021 | $11452 | $11935 | $12448 |
| **7/31/2022** | $12288 | $11691 | $12185 | $13068 |
| **8/31/2022** | $11558 | $11296 | $11776 | $12447 |
| **9/30/2022** | $10412 | $10283 | $10727 | $11283 |
| **10/31/2022** | $11131 | $10947 | $11420 | $11889 |
| **11/30/2022** | $12480 | $12150 | $12677 | $13229 |
| **12/31/2022** | $12311 | $12303 | $12843 | $13239 |
| **1/31/2023** | $13378 | $13253 | $13837 | $14311 |
| **2/28/2023** | $13125 | $13067 | $13645 | $14013 |
| **3/31/2023** | $13199 | $13034 | $13631 | $14360 |
| **4/30/2023** | $13599 | $13454 | $14086 | $14765 |
| **5/31/2023** | $12836 | $12729 | $13356 | $14141 |
| **6/30/2023** | $13536 | $13445 | $14113 | $14784 |
| **7/31/2023** | $14071 | $14056 | $14758 | $15263 |
| **8/31/2023** | $13592 | $13639 | $14322 | $14678 |
| **9/30/2023** | $13293 | $13524 | $14209 | $14176 |
| **10/31/2023** | $12737 | $12929 | $13585 | $13602 |
| **11/30/2023** | $13738 | $13953 | $14666 | $14864 |
| **12/31/2023** | $14254 | $14635 | $15385 | $15654 |
| **1/31/2024** | $14161 | $14625 | $15377 | $15744 |
| **2/29/2024** | $14460 | $14652 | $15407 | $16032 |
| **3/31/2024** | $15127 | $15291 | $16108 | $16559 |
| **4/30/2024** | $14958 | $15134 | $15963 | $16135 |
| **5/31/2024** | $15785 | $15731 | $16623 | $16760 |
| **6/30/2024** | $15288 | $15293 | $16166 | $16490 |
| **7/31/2024** | $16036 | $16010 | $16927 | $16974 |
| **8/31/2024** | $16361 | $16419 | $17362 | $17525 |
| **9/30/2024** | $16446 | $16653 | $17618 | $17687 |
| **10/31/2024** | $15676 | $15870 | $16794 | $16725 |
| **11/30/2024** | $15792 | $15748 | $16669 | $16631 |
| **12/31/2024** | $15397 | $15467 | $16375 | $16252 |
| **1/31/2025** | $15998 | $16256 | $17213 | $17106 |
| **2/28/2025** | $16676 | $16862 | $17858 | $17438 |
| **3/31/2025** | $17056 | $17255 | $18302 | $17368 |
| **4/30/2025** | $17620 | $17955 | $19072 | $18163 |
| **5/31/2025** | $18398 | $18676 | $19877 | $18994 |
| **6/30/2025** | $18860 | $19000 | $20228 | $19413 |
| **7/31/2025** | $18504 | $19049 | $20284 | $19140 |
| **8/31/2025** | $19335 | $20139 | $21447 | $19956 |
| **9/30/2025** | $19784 | $20404 | $21742 | $20338 |
| **10/31/2025** | $19884 | $20559 | $21910 | $20578 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R6 at NAV | 26.84% | 14.55% | 7.11% |
| MSCI EAFE Value Index with Net Dividends | 29.55% | 16.79% | 7.47% |
| MSCI EAFE Value Index with the Gross Dividends | 30.46% | 17.59% | 8.16% |
| MSCI EAFE Net Index | 23.03% | 12.33% | 7.48% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $468175570 |
| # of Portfolio Holdings | 76 |
| Portfolio Turnover Rate | 66% |
| Total Advisory Fees Paid | $2153313 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 4.90% |
| Consumer Discretionary | 5.93% |
| Consumer Staples | 6.05% |
| Energy | 6.72% |
| Financials | 31.84% |
| Health Care | 7.56% |
| Industrials | 14.54% |
| Information Technology | 7.91% |
| Materials | 6.37% |
| Real Estate | 0.25% |
| Utilities | 6.25% |
| Repurchase Agreements | 1.68% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |

---

## **Summary of Fund Changes** 
There were no material fund changes during the period.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LIRVX

# Lord Abbett International Value Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8789-R6

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LAMGX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Micro Cap Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $152 | 1.37% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 22.53%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 35.58% return of a securities market index with investment characteristics similar to those of the Fund, the Russell Micro Cap Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Kratos Defense & Security Solutions, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Sphere Entertainment Co.

**Top detractors from performance:** Security selection within the Information Technology sector detracted from relative performance, led by an overweight allocation to Alkami Technology, Inc. Security selection within the Financials sector also detracted from relative performance, led by an overweight allocation to Sezzle, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9c3f3808554adb7e1cfd18c1.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with load** | **Russell Micro Cap Growth Index** | **Russell Microcap Index** | **S&P 500 Index** |
| **10/31/2015** | $9423 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9996 | $10471 | $10380 | $10030 |
| **12/31/2015** | $9584 | $9854 | $9844 | $9872 |
| **1/31/2016** | $8051 | $8471 | $8826 | $9382 |
| **2/29/2016** | $7674 | $8390 | $8693 | $9369 |
| **3/31/2016** | $8271 | $8988 | $9309 | $10005 |
| **4/30/2016** | $8448 | $9207 | $9611 | $10043 |
| **5/31/2016** | $8725 | $9448 | $9736 | $10224 |
| **6/30/2016** | $8768 | $9273 | $9679 | $10250 |
| **7/31/2016** | $9548 | $9775 | $10185 | $10628 |
| **8/31/2016** | $9634 | $9969 | $10460 | $10643 |
| **9/30/2016** | $10038 | $10378 | $10767 | $10645 |
| **10/31/2016** | $9300 | $9537 | $10154 | $10451 |
| **11/30/2016** | $10010 | $10326 | $11333 | $10838 |
| **12/31/2016** | $9783 | $10530 | $11849 | $11052 |
| **1/31/2017** | $10024 | $10414 | $11671 | $11262 |
| **2/28/2017** | $10258 | $10629 | $11792 | $11709 |
| **3/31/2017** | $10663 | $10807 | $11894 | $11723 |
| **4/30/2017** | $10713 | $10926 | $12017 | $11843 |
| **5/31/2017** | $10691 | $10787 | $11741 | $12010 |
| **6/30/2017** | $11529 | $11379 | $12350 | $12085 |
| **7/31/2017** | $11998 | $11316 | $12282 | $12333 |
| **8/31/2017** | $12232 | $11406 | $12180 | $12371 |
| **9/30/2017** | $13098 | $12170 | $13172 | $12626 |
| **10/31/2017** | $12963 | $12013 | $13151 | $12921 |
| **11/30/2017** | $12982 | $12252 | $13473 | $13317 |
| **12/31/2017** | $13542 | $12283 | $13409 | $13465 |
| **1/31/2018** | $14185 | $12633 | $13738 | $14236 |
| **2/28/2018** | $14194 | $12342 | $13303 | $13711 |
| **3/31/2018** | $14252 | $12405 | $13500 | $13363 |
| **4/30/2018** | $14469 | $12515 | $13670 | $13414 |
| **5/31/2018** | $15965 | $13465 | $14656 | $13737 |
| **6/30/2018** | $16499 | $13613 | $14846 | $13822 |
| **7/31/2018** | $15948 | $13606 | $14836 | $14336 |
| **8/31/2018** | $18187 | $14561 | $15474 | $14803 |
| **9/30/2018** | $18162 | $14042 | $14970 | $14887 |
| **10/31/2018** | $15079 | $12143 | $13337 | $13870 |
| **11/30/2018** | $15343 | $12084 | $13252 | $14153 |
| **12/31/2018** | $13914 | $10541 | $11655 | $12875 |
| **1/31/2019** | $15567 | $11637 | $12878 | $13906 |
| **2/28/2019** | $17363 | $12410 | $13583 | $14353 |
| **3/31/2019** | $17067 | $12228 | $13182 | $14632 |
| **4/30/2019** | $17575 | $12337 | $13434 | $15224 |
| **5/31/2019** | $16713 | $11547 | $12523 | $14257 |
| **6/30/2019** | $18343 | $12280 | $13304 | $15262 |
| **7/31/2019** | $18036 | $11979 | $13123 | $15481 |
| **8/31/2019** | $16985 | $11279 | $12297 | $15236 |
| **9/30/2019** | $15792 | $11046 | $12578 | $15521 |
| **10/31/2019** | $16335 | $11314 | $12901 | $15857 |
| **11/30/2019** | $17792 | $12177 | $13500 | $16432 |
| **12/31/2019** | $18724 | $13000 | $14270 | $16928 |
| **1/31/2020** | $19035 | $12744 | $13605 | $16922 |
| **2/29/2020** | $18230 | $12071 | $12675 | $15529 |
| **3/31/2020** | $14177 | $9543 | $9705 | $13611 |
| **4/30/2020** | $16860 | $11346 | $11183 | $15356 |
| **5/31/2020** | $19543 | $12451 | $11924 | $16087 |
| **6/30/2020** | $20927 | $13249 | $12670 | $16407 |
| **7/31/2020** | $22014 | $13662 | $12805 | $17332 |
| **8/31/2020** | $24274 | $14406 | $13567 | $18578 |
| **9/30/2020** | $24584 | $14051 | $13137 | $17872 |
| **10/31/2020** | $24697 | $13843 | $13307 | $17397 |
| **11/30/2020** | $29616 | $16832 | $16027 | $19301 |
| **12/31/2020** | $33595 | $18217 | $17261 | $20043 |
| **1/31/2021** | $36223 | $20560 | $19714 | $19841 |
| **2/28/2021** | $39733 | $21977 | $20902 | $20388 |
| **3/31/2021** | $37724 | $21288 | $21384 | $21281 |
| **4/30/2021** | $38194 | $21099 | $21440 | $22416 |
| **5/31/2021** | $35941 | $20652 | $21791 | $22573 |
| **6/30/2021** | $37668 | $21965 | $22269 | $23100 |
| **7/31/2021** | $35660 | $20451 | $21041 | $23649 |
| **8/31/2021** | $36185 | $20999 | $21796 | $24368 |
| **9/30/2021** | $34121 | $19968 | $21160 | $23234 |
| **10/31/2021** | $36336 | $20170 | $21629 | $24862 |
| **11/30/2021** | $34365 | $18862 | $20495 | $24690 |
| **12/31/2021** | $34759 | $18377 | $20598 | $25797 |
| **1/31/2022** | $28622 | $15710 | $18585 | $24462 |
| **2/28/2022** | $28659 | $15725 | $18775 | $23729 |
| **3/31/2022** | $28772 | $15858 | $19034 | $24610 |
| **4/30/2022** | $24849 | $13636 | $17060 | $22464 |
| **5/31/2022** | $24080 | $13308 | $16993 | $22505 |
| **6/30/2022** | $22278 | $12306 | $15425 | $20648 |
| **7/31/2022** | $24680 | $13751 | $16962 | $22552 |
| **8/31/2022** | $25431 | $13863 | $16989 | $21632 |
| **9/30/2022** | $24099 | $12569 | $15351 | $19640 |
| **10/31/2022** | $26013 | $13592 | $16807 | $21230 |
| **11/30/2022** | $25731 | $13475 | $16792 | $22416 |
| **12/31/2022** | $24587 | $12908 | $16076 | $21125 |
| **1/31/2023** | $26726 | $14206 | $17660 | $22452 |
| **2/28/2023** | $26595 | $13815 | $17146 | $21904 |
| **3/31/2023** | $25938 | $13006 | $15622 | $22708 |
| **4/30/2023** | $25994 | $12830 | $15218 | $23063 |
| **5/31/2023** | $26538 | $13153 | $15432 | $23163 |
| **6/30/2023** | $27026 | $13833 | $16448 | $24693 |
| **7/31/2023** | $27927 | $14067 | $17327 | $25487 |
| **8/31/2023** | $25900 | $13177 | $16175 | $25081 |
| **9/30/2023** | $23404 | $12179 | $15144 | $23885 |
| **10/31/2023** | $20739 | $11152 | $14050 | $23383 |
| **11/30/2023** | $23629 | $12389 | $15380 | $25518 |
| **12/31/2023** | $26032 | $14084 | $17576 | $26678 |
| **1/31/2024** | $25675 | $13625 | $16895 | $27126 |
| **2/29/2024** | $27514 | $14827 | $17946 | $28574 |
| **3/31/2024** | $28021 | $15014 | $18399 | $29494 |
| **4/30/2024** | $26107 | $13802 | $16970 | $28289 |
| **5/31/2024** | $27984 | $14522 | $17830 | $29692 |
| **6/30/2024** | $28040 | $14177 | $17428 | $30757 |
| **7/31/2024** | $29241 | $15623 | $19497 | $31132 |
| **8/31/2024** | $29748 | $15326 | $18962 | $31887 |
| **9/30/2024** | $29973 | $15392 | $18873 | $32568 |
| **10/31/2024** | $30987 | $15949 | $19002 | $32272 |
| **11/30/2024** | $34759 | $17938 | $21213 | $34167 |
| **12/31/2024** | $33032 | $17170 | $19985 | $33352 |
| **1/31/2025** | $33126 | $17074 | $20011 | $34281 |
| **2/28/2025** | $30161 | $15896 | $18918 | $33834 |
| **3/31/2025** | $27120 | $14123 | $17110 | $31928 |
| **4/30/2025** | $27909 | $14485 | $17030 | $31711 |
| **5/31/2025** | $29973 | $15796 | $18385 | $33707 |
| **6/30/2025** | $31418 | $17078 | $19764 | $35421 |
| **7/31/2025** | $31737 | $17572 | $20175 | $36216 |
| **8/31/2025** | $33858 | $19248 | $22043 | $36950 |
| **9/30/2025** | $35791 | $20482 | $23131 | $38299 |
| **10/31/2025** | $37968 | $21624 | $24175 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | 22.53% | 8.98% | 14.95% |
| Class A with sales charge | 15.47% | 7.70% | 14.27% |
| Russell Micro Cap Growth Index | 35.58% | 9.33% | 8.02% |
| Russell Microcap Index | 27.22% | 12.68% | 9.23% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $207003388 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 107% |
| Total Advisory Fees Paid | $1685990 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 6.56% |
| Consumer Staples | 2.67% |
| Energy | 2.58% |
| Financials | 4.89% |
| Health Care | 31.95% |
| Industrials | 21.41% |
| Information Technology | 18.92% |
| Materials | 0.74% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 6.65% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.74% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LAMGX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-271-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LCMGX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Micro Cap Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $235 | 2.12% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 21.59%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 35.58% return of a securities market index with investment characteristics similar to those of the Fund, the Russell Micro Cap Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Kratos Defense & Security Solutions, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Sphere Entertainment Co.

**Top detractors from performance:** Security selection within the Information Technology sector detracted from relative performance, led by an overweight allocation to Alkami Technology, Inc. Security selection within the Financials sector also detracted from relative performance, led by an overweight allocation to Sezzle, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i11571e9fdf8bfc3ec4c5e47f.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with load** | **Russell Micro Cap Growth Index** | **Russell Microcap Index** | **S&P 500 Index** |
| **8/28/2020** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2020** | $9965 | $9961 | $9903 | $9979 |
| **9/30/2020** | $10089 | $9716 | $9590 | $9600 |
| **10/31/2020** | $10129 | $9572 | $9713 | $9345 |
| **11/30/2020** | $12134 | $11639 | $11699 | $10368 |
| **12/31/2020** | $13758 | $12596 | $12600 | $10766 |
| **1/31/2021** | $14829 | $14216 | $14391 | $10658 |
| **2/28/2021** | $16258 | $15196 | $15257 | $10951 |
| **3/31/2021** | $15421 | $14720 | $15609 | $11431 |
| **4/30/2021** | $15609 | $14589 | $15651 | $12041 |
| **5/31/2021** | $14678 | $14280 | $15907 | $12125 |
| **6/30/2021** | $15376 | $15188 | $16256 | $12408 |
| **7/31/2021** | $14539 | $14141 | $15359 | $12703 |
| **8/31/2021** | $14747 | $14520 | $15910 | $13089 |
| **9/30/2021** | $13897 | $13807 | $15446 | $12481 |
| **10/31/2021** | $14791 | $13947 | $15788 | $13355 |
| **11/30/2021** | $13985 | $13042 | $14961 | $13262 |
| **12/31/2021** | $14136 | $12707 | $15036 | $13857 |
| **1/31/2022** | $11630 | $10863 | $13566 | $13140 |
| **2/28/2022** | $11643 | $10874 | $13705 | $12746 |
| **3/31/2022** | $11674 | $10965 | $13894 | $13220 |
| **4/30/2022** | $10081 | $9428 | $12453 | $12067 |
| **5/31/2022** | $9766 | $9202 | $12404 | $12089 |
| **6/30/2022** | $9023 | $8509 | $11260 | $11091 |
| **7/31/2022** | $9993 | $9508 | $12382 | $12114 |
| **8/31/2022** | $10289 | $9586 | $12401 | $11620 |
| **9/30/2022** | $9747 | $8691 | $11205 | $10550 |
| **10/31/2022** | $10515 | $9399 | $12268 | $11404 |
| **11/30/2022** | $10390 | $9317 | $12258 | $12041 |
| **12/31/2022** | $9924 | $8925 | $11735 | $11347 |
| **1/31/2023** | $10780 | $9823 | $12891 | $12060 |
| **2/28/2023** | $10717 | $9553 | $12516 | $11766 |
| **3/31/2023** | $10452 | $8993 | $11403 | $12198 |
| **4/30/2023** | $10465 | $8871 | $11108 | $12388 |
| **5/31/2023** | $10679 | $9095 | $11265 | $12442 |
| **6/30/2023** | $10868 | $9565 | $12007 | $13264 |
| **7/31/2023** | $11221 | $9727 | $12648 | $13690 |
| **8/31/2023** | $10396 | $9111 | $11807 | $13472 |
| **9/30/2023** | $9388 | $8421 | $11054 | $12830 |
| **10/31/2023** | $8318 | $7711 | $10256 | $12560 |
| **11/30/2023** | $9470 | $8566 | $11227 | $13707 |
| **12/31/2023** | $10421 | $9738 | $12830 | $14330 |
| **1/31/2024** | $10282 | $9421 | $12333 | $14571 |
| **2/29/2024** | $11013 | $10252 | $13100 | $15349 |
| **3/31/2024** | $11202 | $10381 | $13431 | $15843 |
| **4/30/2024** | $10434 | $9543 | $12388 | $15196 |
| **5/31/2024** | $11177 | $10041 | $13015 | $15949 |
| **6/30/2024** | $11196 | $9803 | $12722 | $16521 |
| **7/31/2024** | $11668 | $10802 | $14232 | $16723 |
| **8/31/2024** | $11857 | $10597 | $13841 | $17128 |
| **9/30/2024** | $11939 | $10643 | $13776 | $17494 |
| **10/31/2024** | $12335 | $11028 | $13871 | $17335 |
| **11/30/2024** | $13834 | $12403 | $15485 | $18353 |
| **12/31/2024** | $13135 | $11872 | $14588 | $17915 |
| **1/31/2025** | $13160 | $11806 | $14607 | $18414 |
| **2/28/2025** | $11976 | $10992 | $13810 | $18174 |
| **3/31/2025** | $10761 | $9765 | $12489 | $17150 |
| **4/30/2025** | $11070 | $10016 | $12431 | $17034 |
| **5/31/2025** | $11876 | $10923 | $13421 | $18106 |
| **6/30/2025** | $12442 | $11809 | $14427 | $19027 |
| **7/31/2025** | $12562 | $12150 | $14727 | $19454 |
| **8/31/2025** | $13393 | $13309 | $16090 | $19848 |
| **9/30/2025** | $14149 | $14162 | $16884 | $20572 |
| **10/31/2025** | $14999 | $14952 | $17646 | $21054 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 8/28/20 |
| Class C at NAV | 21.59% | 8.17% | 8.15% |
| Class C with sales charge | 20.59% | 8.17% | 8.15% |
| Russell Micro Cap Growth Index | 35.58% | 9.33% | 8.08% |
| Russell Microcap Index | 27.22% | 12.68% | 11.60% |
| S&P 500 Index | 21.45% | 17.64% | 15.47% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $207003388 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 107% |
| Total Advisory Fees Paid | $1685990 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 6.56% |
| Consumer Staples | 2.67% |
| Energy | 2.58% |
| Financials | 4.89% |
| Health Care | 31.95% |
| Industrials | 21.41% |
| Information Technology | 18.92% |
| Materials | 0.74% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 6.65% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.74% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LCMGX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9069-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LFMGX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Micro Cap Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $125 | 1.12% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 22.81%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 35.58% return of a securities market index with investment characteristics similar to those of the Fund, the Russell Micro Cap Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Kratos Defense & Security Solutions, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Sphere Entertainment Co.

**Top detractors from performance:** Security selection within the Information Technology sector detracted from relative performance, led by an overweight allocation to Alkami Technology, Inc. Security selection within the Financials sector also detracted from relative performance, led by an overweight allocation to Sezzle, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i7e66641182a99439b92de9d0.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F** | **Russell Micro Cap Growth Index** | **Russell Microcap Index** | **S&P 500 Index** |
| **8/28/2020** | $10000 | $10000 | $10000 | $10000 |
| **8/31/2020** | $9965 | $9961 | $9903 | $9979 |
| **9/30/2020** | $10094 | $9716 | $9590 | $9600 |
| **10/31/2020** | $10149 | $9572 | $9713 | $9345 |
| **11/30/2020** | $12165 | $11639 | $11699 | $10368 |
| **12/31/2020** | $13801 | $12596 | $12600 | $10766 |
| **1/31/2021** | $14883 | $14216 | $14391 | $10658 |
| **2/28/2021** | $16331 | $15196 | $15257 | $10951 |
| **3/31/2021** | $15506 | $14720 | $15609 | $11431 |
| **4/30/2021** | $15708 | $14589 | $15651 | $12041 |
| **5/31/2021** | $14783 | $14280 | $15907 | $12125 |
| **6/30/2021** | $15500 | $15188 | $16256 | $12408 |
| **7/31/2021** | $14669 | $14141 | $15359 | $12703 |
| **8/31/2021** | $14890 | $14520 | $15910 | $13089 |
| **9/30/2021** | $14046 | $13807 | $15446 | $12481 |
| **10/31/2021** | $14959 | $13947 | $15788 | $13355 |
| **11/30/2021** | $14153 | $13042 | $14961 | $13262 |
| **12/31/2021** | $14317 | $12707 | $15036 | $13857 |
| **1/31/2022** | $11793 | $10863 | $13566 | $13140 |
| **2/28/2022** | $11812 | $10874 | $13705 | $12746 |
| **3/31/2022** | $11856 | $10965 | $13894 | $13220 |
| **4/30/2022** | $10245 | $9428 | $12453 | $12067 |
| **5/31/2022** | $9931 | $9202 | $12404 | $12089 |
| **6/30/2022** | $9188 | $8509 | $11260 | $11091 |
| **7/31/2022** | $10182 | $9508 | $12382 | $12114 |
| **8/31/2022** | $10491 | $9586 | $12401 | $11620 |
| **9/30/2022** | $9949 | $8691 | $11205 | $10550 |
| **10/31/2022** | $10742 | $9399 | $12268 | $11404 |
| **11/30/2022** | $10629 | $9317 | $12258 | $12041 |
| **12/31/2022** | $10151 | $8925 | $11735 | $11347 |
| **1/31/2023** | $11038 | $9823 | $12891 | $12060 |
| **2/28/2023** | $10988 | $9553 | $12516 | $11766 |
| **3/31/2023** | $10724 | $8993 | $11403 | $12198 |
| **4/30/2023** | $10742 | $8871 | $11108 | $12388 |
| **5/31/2023** | $10975 | $9095 | $11265 | $12442 |
| **6/30/2023** | $11177 | $9565 | $12007 | $13264 |
| **7/31/2023** | $11548 | $9727 | $12648 | $13690 |
| **8/31/2023** | $10711 | $9111 | $11807 | $13472 |
| **9/30/2023** | $9685 | $8421 | $11054 | $12830 |
| **10/31/2023** | $8584 | $7711 | $10256 | $12560 |
| **11/30/2023** | $9786 | $8566 | $11227 | $13707 |
| **12/31/2023** | $10774 | $9738 | $12830 | $14330 |
| **1/31/2024** | $10635 | $9421 | $12333 | $14571 |
| **2/29/2024** | $11403 | $10252 | $13100 | $15349 |
| **3/31/2024** | $11605 | $10381 | $13431 | $15843 |
| **4/30/2024** | $10818 | $9543 | $12388 | $15196 |
| **5/31/2024** | $11598 | $10041 | $13015 | $15949 |
| **6/30/2024** | $11630 | $9803 | $12722 | $16521 |
| **7/31/2024** | $12127 | $10802 | $14232 | $16723 |
| **8/31/2024** | $12341 | $10597 | $13841 | $17128 |
| **9/30/2024** | $12435 | $10643 | $13776 | $17494 |
| **10/31/2024** | $12857 | $11028 | $13871 | $17335 |
| **11/30/2024** | $14430 | $12403 | $15485 | $18353 |
| **12/31/2024** | $13713 | $11872 | $14588 | $17915 |
| **1/31/2025** | $13751 | $11806 | $14607 | $18414 |
| **2/28/2025** | $12530 | $10992 | $13810 | $18174 |
| **3/31/2025** | $11265 | $9765 | $12489 | $17150 |
| **4/30/2025** | $11598 | $10016 | $12431 | $17034 |
| **5/31/2025** | $12454 | $10923 | $13421 | $18106 |
| **6/30/2025** | $13058 | $11809 | $14427 | $19027 |
| **7/31/2025** | $13197 | $12150 | $14727 | $19454 |
| **8/31/2025** | $14078 | $13309 | $16090 | $19848 |
| **9/30/2025** | $14883 | $14162 | $16884 | $20572 |
| **10/31/2025** | $15790 | $14952 | $17646 | $21054 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 8/28/20 |
| Class F at NAV | 22.81% | 9.24% | 9.23% |
| Russell Micro Cap Growth Index | 35.58% | 9.33% | 8.08% |
| Russell Microcap Index | 27.22% | 12.68% | 11.60% |
| S&P 500 Index | 21.45% | 17.64% | 15.47% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $207003388 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 107% |
| Total Advisory Fees Paid | $1685990 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 6.56% |
| Consumer Staples | 2.67% |
| Energy | 2.58% |
| Financials | 4.89% |
| Health Care | 31.95% |
| Industrials | 21.41% |
| Information Technology | 18.92% |
| Materials | 0.74% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 6.65% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.74% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LFMGX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-9070-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LMIYX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Micro Cap Growth Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $125 | 1.12% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned 22.81%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 35.58% return of a securities market index with investment characteristics similar to those of the Fund, the Russell Micro Cap Growth Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Industrials sector contributed to relative performance, led by an overweight allocation to Kratos Defense & Security Solutions, Inc. Security selection within the Communication Services sector also contributed to relative performance, led by an overweight allocation to Sphere Entertainment Co.

**Top detractors from performance:** Security selection within the Information Technology sector detracted from relative performance, led by an overweight allocation to Alkami Technology, Inc. Security selection within the Financials sector also detracted from relative performance, led by an overweight allocation to Sezzle, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i8246d74a81ffbefdd7e3b6d7.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **Russell Micro Cap Growth Index** | **Russell Microcap Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10604 | $10471 | $10380 | $10030 |
| **12/31/2015** | $10166 | $9854 | $9844 | $9872 |
| **1/31/2016** | $8535 | $8471 | $8826 | $9382 |
| **2/29/2016** | $8139 | $8390 | $8693 | $9369 |
| **3/31/2016** | $8778 | $8988 | $9309 | $10005 |
| **4/30/2016** | $8965 | $9207 | $9611 | $10043 |
| **5/31/2016** | $9257 | $9448 | $9736 | $10224 |
| **6/30/2016** | $9298 | $9273 | $9679 | $10250 |
| **7/31/2016** | $10125 | $9775 | $10185 | $10628 |
| **8/31/2016** | $10222 | $9969 | $10460 | $10643 |
| **9/30/2016** | $10653 | $10378 | $10767 | $10645 |
| **10/31/2016** | $9861 | $9537 | $10154 | $10451 |
| **11/30/2016** | $10618 | $10326 | $11333 | $10838 |
| **12/31/2016** | $10375 | $10530 | $11849 | $11052 |
| **1/31/2017** | $10632 | $10414 | $11671 | $11262 |
| **2/28/2017** | $10882 | $10629 | $11792 | $11709 |
| **3/31/2017** | $11305 | $10807 | $11894 | $11723 |
| **4/30/2017** | $11361 | $10926 | $12017 | $11843 |
| **5/31/2017** | $11340 | $10787 | $11741 | $12010 |
| **6/30/2017** | $12229 | $11379 | $12350 | $12085 |
| **7/31/2017** | $12729 | $11316 | $12282 | $12333 |
| **8/31/2017** | $12979 | $11406 | $12180 | $12371 |
| **9/30/2017** | $13896 | $12170 | $13172 | $12626 |
| **10/31/2017** | $13750 | $12013 | $13151 | $12921 |
| **11/30/2017** | $13776 | $12252 | $13473 | $13317 |
| **12/31/2017** | $14356 | $12283 | $13409 | $13465 |
| **1/31/2018** | $15049 | $12633 | $13738 | $14236 |
| **2/28/2018** | $15058 | $12342 | $13303 | $13711 |
| **3/31/2018** | $15122 | $12405 | $13500 | $13363 |
| **4/30/2018** | $15348 | $12515 | $13670 | $13414 |
| **5/31/2018** | $16936 | $13465 | $14656 | $13737 |
| **6/30/2018** | $17508 | $13613 | $14846 | $13822 |
| **7/31/2018** | $16912 | $13606 | $14836 | $14336 |
| **8/31/2018** | $19289 | $14561 | $15474 | $14803 |
| **9/30/2018** | $19265 | $14042 | $14970 | $14887 |
| **10/31/2018** | $15993 | $12143 | $13337 | $13870 |
| **11/30/2018** | $16271 | $12084 | $13252 | $14153 |
| **12/31/2018** | $14766 | $10541 | $11655 | $12875 |
| **1/31/2019** | $16513 | $11637 | $12878 | $13906 |
| **2/28/2019** | $18413 | $12410 | $13583 | $14353 |
| **3/31/2019** | $18106 | $12228 | $13182 | $14632 |
| **4/30/2019** | $18644 | $12337 | $13434 | $15224 |
| **5/31/2019** | $17732 | $11547 | $12523 | $14257 |
| **6/30/2019** | $19457 | $12280 | $13304 | $15262 |
| **7/31/2019** | $19128 | $11979 | $13123 | $15481 |
| **8/31/2019** | $18018 | $11279 | $12297 | $15236 |
| **9/30/2019** | $16755 | $11046 | $12578 | $15521 |
| **10/31/2019** | $17326 | $11314 | $12901 | $15857 |
| **11/30/2019** | $18881 | $12177 | $13500 | $16432 |
| **12/31/2019** | $19868 | $13000 | $14270 | $16928 |
| **1/31/2020** | $20202 | $12744 | $13605 | $16922 |
| **2/29/2020** | $19343 | $12071 | $12675 | $15529 |
| **3/31/2020** | $15046 | $9543 | $9705 | $13611 |
| **4/30/2020** | $17880 | $11346 | $11183 | $15356 |
| **5/31/2020** | $20728 | $12451 | $11924 | $16087 |
| **6/30/2020** | $22216 | $13249 | $12670 | $16407 |
| **7/31/2020** | $23370 | $13662 | $12805 | $17332 |
| **8/31/2020** | $25769 | $14406 | $13567 | $18578 |
| **9/30/2020** | $26102 | $14051 | $13137 | $17872 |
| **10/31/2020** | $26243 | $13843 | $13307 | $17397 |
| **11/30/2020** | $31456 | $16832 | $16027 | $19301 |
| **12/31/2020** | $35687 | $18217 | $17261 | $20043 |
| **1/31/2021** | $38486 | $20560 | $19714 | $19841 |
| **2/28/2021** | $42229 | $21977 | $20902 | $20388 |
| **3/31/2021** | $40097 | $21288 | $21384 | $21281 |
| **4/30/2021** | $40618 | $21099 | $21440 | $22416 |
| **5/31/2021** | $38226 | $20652 | $21791 | $22573 |
| **6/30/2021** | $40081 | $21965 | $22269 | $23100 |
| **7/31/2021** | $37933 | $20451 | $21041 | $23649 |
| **8/31/2021** | $38502 | $20999 | $21796 | $24368 |
| **9/30/2021** | $36322 | $19968 | $21160 | $23234 |
| **10/31/2021** | $38681 | $20170 | $21629 | $24862 |
| **11/30/2021** | $36598 | $18862 | $20495 | $24690 |
| **12/31/2021** | $37021 | $18377 | $20598 | $25797 |
| **1/31/2022** | $30496 | $15710 | $18585 | $24462 |
| **2/28/2022** | $30545 | $15725 | $18775 | $23729 |
| **3/31/2022** | $30659 | $15858 | $19034 | $24610 |
| **4/30/2022** | $26493 | $13636 | $17060 | $22464 |
| **5/31/2022** | $25679 | $13308 | $16993 | $22505 |
| **6/30/2022** | $23759 | $12306 | $15425 | $20648 |
| **7/31/2022** | $26330 | $13751 | $16962 | $22552 |
| **8/31/2022** | $27127 | $13863 | $16989 | $21632 |
| **9/30/2022** | $25728 | $12569 | $15351 | $19640 |
| **10/31/2022** | $27778 | $13592 | $16807 | $21230 |
| **11/30/2022** | $27469 | $13475 | $16792 | $22416 |
| **12/31/2022** | $26249 | $12908 | $16076 | $21125 |
| **1/31/2023** | $28543 | $14206 | $17660 | $22452 |
| **2/28/2023** | $28413 | $13815 | $17146 | $21904 |
| **3/31/2023** | $27729 | $13006 | $15622 | $22708 |
| **4/30/2023** | $27778 | $12830 | $15218 | $23063 |
| **5/31/2023** | $28380 | $13153 | $15432 | $23163 |
| **6/30/2023** | $28901 | $13833 | $16448 | $24693 |
| **7/31/2023** | $29861 | $14067 | $17327 | $25487 |
| **8/31/2023** | $27697 | $13177 | $16175 | $25081 |
| **9/30/2023** | $25028 | $12179 | $15144 | $23885 |
| **10/31/2023** | $22197 | $11152 | $14050 | $23383 |
| **11/30/2023** | $25288 | $12389 | $15380 | $25518 |
| **12/31/2023** | $27860 | $14084 | $17576 | $26678 |
| **1/31/2024** | $27502 | $13625 | $16895 | $27126 |
| **2/29/2024** | $29471 | $14827 | $17946 | $28574 |
| **3/31/2024** | $30008 | $15014 | $18399 | $29494 |
| **4/30/2024** | $27974 | $13802 | $16970 | $28289 |
| **5/31/2024** | $29991 | $14522 | $17830 | $29692 |
| **6/30/2024** | $30073 | $14177 | $17428 | $30757 |
| **7/31/2024** | $31358 | $15623 | $19497 | $31132 |
| **8/31/2024** | $31912 | $15326 | $18962 | $31887 |
| **9/30/2024** | $32156 | $15392 | $18873 | $32568 |
| **10/31/2024** | $33246 | $15949 | $19002 | $32272 |
| **11/30/2024** | $37314 | $17938 | $21213 | $34167 |
| **12/31/2024** | $35459 | $17170 | $19985 | $33352 |
| **1/31/2025** | $35557 | $17074 | $20011 | $34281 |
| **2/28/2025** | $32384 | $15896 | $18918 | $33834 |
| **3/31/2025** | $29129 | $14123 | $17110 | $31928 |
| **4/30/2025** | $29991 | $14485 | $17030 | $31711 |
| **5/31/2025** | $32205 | $15796 | $18385 | $33707 |
| **6/30/2025** | $33767 | $17078 | $19764 | $35421 |
| **7/31/2025** | $34109 | $17572 | $20175 | $36216 |
| **8/31/2025** | $36387 | $19248 | $22043 | $36950 |
| **9/30/2025** | $38470 | $20482 | $23131 | $38299 |
| **10/31/2025** | $40829 | $21624 | $24175 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | 22.81% | 9.24% | 15.11% |
| Russell Micro Cap Growth Index | 35.58% | 9.33% | 8.02% |
| Russell Microcap Index | 27.22% | 12.68% | 9.23% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $207003388 |
| # of Portfolio Holdings | 81 |
| Portfolio Turnover Rate | 107% |
| Total Advisory Fees Paid | $1685990 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Communication Services | 1.52% |
| Consumer Discretionary | 6.56% |
| Consumer Staples | 2.67% |
| Energy | 2.58% |
| Financials | 4.89% |
| Health Care | 31.95% |
| Industrials | 21.41% |
| Information Technology | 18.92% |
| Materials | 0.74% |
| Repurchase Agreements | 1.37% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 6.65% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.74% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LMIYX

# Lord Abbett Micro Cap Growth Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-700-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class A

# LVOAX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A | $115 | 1.16% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.90%, reflecting performance at the net asset value (NAV) of Class A shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i3474fd88c276d9c51d8686f2.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with load** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $9427 | $10000 | $10000 | $10000 |
| **11/30/2015** | $9482 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9160 | $9781 | $9703 | $9872 |
| **1/31/2016** | $8683 | $9001 | $9108 | $9382 |
| **2/29/2016** | $8714 | $9064 | $9206 | $9369 |
| **3/31/2016** | $9435 | $9820 | $10026 | $10005 |
| **4/30/2016** | $9508 | $9964 | $10220 | $10043 |
| **5/31/2016** | $9705 | $10174 | $10401 | $10224 |
| **6/30/2016** | $9669 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10001 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10120 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10084 | $10838 | $11110 | $10645 |
| **10/31/2016** | $9835 | $10398 | $10778 | $10451 |
| **11/30/2016** | $10601 | $11283 | $11811 | $10838 |
| **12/31/2016** | $10662 | $11502 | $12148 | $11052 |
| **1/31/2017** | $10772 | $11661 | $12214 | $11262 |
| **2/28/2017** | $10942 | $11942 | $12442 | $11709 |
| **3/31/2017** | $10794 | $11934 | $12345 | $11723 |
| **4/30/2017** | $10772 | $12026 | $12332 | $11843 |
| **5/31/2017** | $10816 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11013 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11019 | $12315 | $12481 | $12333 |
| **8/31/2017** | $10936 | $12212 | $12265 | $12371 |
| **9/30/2017** | $11272 | $12766 | $12859 | $12626 |
| **10/31/2017** | $11431 | $12964 | $12930 | $12921 |
| **11/30/2017** | $11709 | $13390 | $13353 | $13317 |
| **12/31/2017** | $11744 | $13435 | $13406 | $13465 |
| **1/31/2018** | $11984 | $13845 | $13575 | $14236 |
| **2/28/2018** | $11405 | $13275 | $12909 | $13711 |
| **3/31/2018** | $11440 | $13403 | $13051 | $13363 |
| **4/30/2018** | $11370 | $13435 | $13192 | $13414 |
| **5/31/2018** | $11756 | $14066 | $13735 | $13737 |
| **6/30/2018** | $11773 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12124 | $14442 | $14082 | $14336 |
| **8/31/2018** | $12551 | $15062 | $14402 | $14803 |
| **9/30/2018** | $12551 | $14833 | $14177 | $14887 |
| **10/31/2018** | $11399 | $13327 | $12965 | $13870 |
| **11/30/2018** | $11575 | $13579 | $13210 | $14153 |
| **12/31/2018** | $10351 | $12091 | $11749 | $12875 |
| **1/31/2019** | $11298 | $13483 | $13062 | $13906 |
| **2/28/2019** | $11698 | $14120 | $13470 | $14353 |
| **3/31/2019** | $11582 | $14004 | $13291 | $14632 |
| **4/30/2019** | $11949 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11008 | $13463 | $12719 | $14257 |
| **6/30/2019** | $11769 | $14418 | $13542 | $15262 |
| **7/31/2019** | $11756 | $14568 | $13630 | $15481 |
| **8/31/2019** | $11614 | $13986 | $12966 | $15236 |
| **9/30/2019** | $11923 | $14234 | $13560 | $15521 |
| **10/31/2019** | $11994 | $14506 | $13755 | $15857 |
| **11/30/2019** | $12414 | $15129 | $14093 | $16432 |
| **12/31/2019** | $12718 | $15449 | $14518 | $16928 |
| **1/31/2020** | $12602 | $15135 | $13989 | $16922 |
| **2/29/2020** | $11459 | $13866 | $12640 | $15529 |
| **3/31/2020** | $9491 | $10857 | $9489 | $13611 |
| **4/30/2020** | $10714 | $12437 | $10744 | $15356 |
| **5/31/2020** | $11488 | $13355 | $11234 | $16087 |
| **6/30/2020** | $11546 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12059 | $14289 | $11787 | $17332 |
| **8/31/2020** | $12255 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12030 | $14549 | $11849 | $17872 |
| **10/31/2020** | $12276 | $14813 | $12116 | $17397 |
| **11/30/2020** | $13877 | $17226 | $14236 | $19301 |
| **12/31/2020** | $14649 | $18537 | $15226 | $20043 |
| **1/31/2021** | $14603 | $18991 | $15563 | $19841 |
| **2/28/2021** | $15879 | $20230 | $16948 | $20388 |
| **3/31/2021** | $16368 | $20563 | $17789 | $21281 |
| **4/30/2021** | $17232 | $21385 | $18552 | $22416 |
| **5/31/2021** | $17132 | $21429 | $18929 | $22573 |
| **6/30/2021** | $16964 | $21682 | $18679 | $23100 |
| **7/31/2021** | $17247 | $21302 | $18405 | $23649 |
| **8/31/2021** | $17629 | $21786 | $18794 | $24368 |
| **9/30/2021** | $17209 | $21101 | $18292 | $23234 |
| **10/31/2021** | $18111 | $22135 | $19161 | $24862 |
| **11/30/2021** | $17655 | $21212 | $18494 | $24690 |
| **12/31/2021** | $18634 | $21908 | $19456 | $25797 |
| **1/31/2022** | $16988 | $20084 | $18467 | $24462 |
| **2/28/2022** | $17023 | $20310 | $18769 | $23729 |
| **3/31/2022** | $16815 | $20633 | $19164 | $24610 |
| **4/30/2022** | $15550 | $18875 | $17865 | $22464 |
| **5/31/2022** | $15758 | $18939 | $18207 | $22505 |
| **6/30/2022** | $14216 | $17130 | $16215 | $20648 |
| **7/31/2022** | $15576 | $18902 | $17784 | $22552 |
| **8/31/2022** | $14883 | $18399 | $17226 | $21632 |
| **9/30/2022** | $13445 | $16647 | $15484 | $19640 |
| **10/31/2022** | $14649 | $18244 | $17119 | $21230 |
| **11/30/2022** | $15337 | $19014 | $17979 | $22416 |
| **12/31/2022** | $14553 | $17883 | $16910 | $21125 |
| **1/31/2023** | $15743 | $19671 | $18600 | $22452 |
| **2/28/2023** | $15432 | $19210 | $18074 | $21904 |
| **3/31/2023** | $15101 | $18490 | $17146 | $22708 |
| **4/30/2023** | $15054 | $18248 | $16918 | $23063 |
| **5/31/2023** | $14751 | $17929 | $16435 | $23163 |
| **6/30/2023** | $15838 | $19456 | $17896 | $24693 |
| **7/31/2023** | $16424 | $20423 | $18945 | $25487 |
| **8/31/2023** | $16074 | $19621 | $18216 | $25081 |
| **9/30/2023** | $15375 | $18525 | $17241 | $23885 |
| **10/31/2023** | $14666 | $17400 | $16273 | $23383 |
| **11/30/2023** | $15734 | $18967 | $17750 | $25518 |
| **12/31/2023** | $16982 | $20999 | $19613 | $26678 |
| **1/31/2024** | $16838 | $20450 | $19063 | $27126 |
| **2/29/2024** | $17904 | $21562 | $19827 | $28574 |
| **3/31/2024** | $18672 | $22452 | $20804 | $29494 |
| **4/30/2024** | $17491 | $20948 | $19496 | $28289 |
| **5/31/2024** | $18355 | $21820 | $20317 | $29692 |
| **6/30/2024** | $18000 | $21493 | $19908 | $30757 |
| **7/31/2024** | $19286 | $23089 | $21520 | $31132 |
| **8/31/2024** | $19343 | $23030 | $21519 | $31887 |
| **9/30/2024** | $19555 | $23373 | $21824 | $32568 |
| **10/31/2024** | $19324 | $23156 | $21549 | $32272 |
| **11/30/2024** | $20836 | $25435 | $23451 | $34167 |
| **12/31/2024** | $19294 | $23518 | $21767 | $33352 |
| **1/31/2025** | $19825 | $24352 | $22508 | $34281 |
| **2/28/2025** | $18876 | $23209 | $21676 | $33834 |
| **3/31/2025** | $17865 | $21754 | $20498 | $31928 |
| **4/30/2025** | $17436 | $21305 | $19905 | $31711 |
| **5/31/2025** | $17896 | $22580 | $21041 | $33707 |
| **6/30/2025** | $18559 | $23622 | $21992 | $35421 |
| **7/31/2025** | $18988 | $24078 | $22374 | $36216 |
| **8/31/2025** | $19202 | $25342 | $23548 | $36950 |
| **9/30/2025** | $19294 | $25748 | $23790 | $38299 |
| **10/31/2025** | $18957 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class A at NAV | (1.90%) | 9.08% | 7.24% |
| Class A with sales charge | (7.55%) | 7.79% | 6.61% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class A

# LVOAX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-580-A

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class C

# LVOCX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C | $188 | 1.91% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -2.65%, reflecting performance at the net asset value (NAV) of Class C shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ieb0c6eae36374c4cafd9ff13.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with load** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10052 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9705 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9196 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9220 | $9064 | $9206 | $9369 |
| **3/31/2016** | $9974 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10052 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10249 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10208 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10549 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10668 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10620 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10357 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11157 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11214 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11323 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11495 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11329 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11297 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11335 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11533 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11539 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11444 | $12212 | $12265 | $12371 |
| **9/30/2017** | $11788 | $12766 | $12859 | $12626 |
| **10/31/2017** | $11947 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12231 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12259 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12498 | $13845 | $13575 | $14236 |
| **2/28/2018** | $11890 | $13275 | $12909 | $13711 |
| **3/31/2018** | $11917 | $13403 | $13051 | $13363 |
| **4/30/2018** | $11835 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12231 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12238 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12600 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13030 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13023 | $14833 | $14177 | $14887 |
| **10/31/2018** | $11822 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12002 | $13579 | $13210 | $14153 |
| **12/31/2018** | $10722 | $12091 | $11749 | $12875 |
| **1/31/2019** | $11697 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12101 | $14120 | $13470 | $14353 |
| **3/31/2019** | $11979 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12352 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11370 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12146 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12123 | $14568 | $13630 | $15481 |
| **8/31/2019** | $11971 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12283 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12352 | $14506 | $13755 | $15857 |
| **11/30/2019** | $12772 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13075 | $15449 | $14518 | $16928 |
| **1/31/2020** | $12954 | $15135 | $13989 | $16922 |
| **2/29/2020** | $11766 | $13866 | $12640 | $15529 |
| **3/31/2020** | $9737 | $10857 | $9489 | $13611 |
| **4/30/2020** | $10985 | $12437 | $10744 | $15356 |
| **5/31/2020** | $11783 | $13355 | $11234 | $16087 |
| **6/30/2020** | $11826 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12347 | $14289 | $11787 | $17332 |
| **8/31/2020** | $12537 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12303 | $14549 | $11849 | $17872 |
| **10/31/2020** | $12546 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14174 | $17226 | $14236 | $19301 |
| **12/31/2020** | $14949 | $18537 | $15226 | $20043 |
| **1/31/2021** | $14894 | $18991 | $15563 | $19841 |
| **2/28/2021** | $16194 | $20230 | $16948 | $20388 |
| **3/31/2021** | $16674 | $20563 | $17789 | $21281 |
| **4/30/2021** | $17540 | $21385 | $18552 | $22416 |
| **5/31/2021** | $17430 | $21429 | $18929 | $22573 |
| **6/30/2021** | $17255 | $21682 | $18679 | $23100 |
| **7/31/2021** | $17531 | $21302 | $18405 | $23649 |
| **8/31/2021** | $17900 | $21786 | $18794 | $24368 |
| **9/30/2021** | $17467 | $21101 | $18292 | $23234 |
| **10/31/2021** | $18370 | $22135 | $19161 | $24862 |
| **11/30/2021** | $17895 | $21212 | $18494 | $24690 |
| **12/31/2021** | $18871 | $21908 | $19456 | $25797 |
| **1/31/2022** | $17198 | $20084 | $18467 | $24462 |
| **2/28/2022** | $17230 | $20310 | $18769 | $23729 |
| **3/31/2022** | $17005 | $20633 | $19164 | $24610 |
| **4/30/2022** | $15717 | $18875 | $17865 | $22464 |
| **5/31/2022** | $15910 | $18939 | $18207 | $22505 |
| **6/30/2022** | $14344 | $17130 | $16215 | $20648 |
| **7/31/2022** | $15717 | $18902 | $17784 | $22552 |
| **8/31/2022** | $15009 | $18399 | $17226 | $21632 |
| **9/30/2022** | $13539 | $16647 | $15484 | $19640 |
| **10/31/2022** | $14752 | $18244 | $17119 | $21230 |
| **11/30/2022** | $15431 | $19014 | $17979 | $22416 |
| **12/31/2022** | $14625 | $17883 | $16910 | $21125 |
| **1/31/2023** | $15822 | $19671 | $18600 | $22452 |
| **2/28/2023** | $15502 | $19210 | $18074 | $21904 |
| **3/31/2023** | $15158 | $18490 | $17146 | $22708 |
| **4/30/2023** | $15099 | $18248 | $16918 | $23063 |
| **5/31/2023** | $14779 | $17929 | $16435 | $23163 |
| **6/30/2023** | $15869 | $19456 | $17896 | $24693 |
| **7/31/2023** | $16438 | $20423 | $18945 | $25487 |
| **8/31/2023** | $16083 | $19621 | $18216 | $25081 |
| **9/30/2023** | $15372 | $18525 | $17241 | $23885 |
| **10/31/2023** | $14649 | $17400 | $16273 | $23383 |
| **11/30/2023** | $15714 | $18967 | $17750 | $25518 |
| **12/31/2023** | $16945 | $20999 | $19613 | $26678 |
| **1/31/2024** | $16788 | $20450 | $19063 | $27126 |
| **2/29/2024** | $17838 | $21562 | $19827 | $28574 |
| **3/31/2024** | $18598 | $22452 | $20804 | $29494 |
| **4/30/2024** | $17404 | $20948 | $19496 | $28289 |
| **5/31/2024** | $18261 | $21820 | $20317 | $29692 |
| **6/30/2024** | $17898 | $21493 | $19908 | $30757 |
| **7/31/2024** | $19166 | $23089 | $21520 | $31132 |
| **8/31/2024** | $19214 | $23030 | $21519 | $31887 |
| **9/30/2024** | $19395 | $23373 | $21824 | $32568 |
| **10/31/2024** | $19166 | $23156 | $21549 | $32272 |
| **11/30/2024** | $20655 | $25435 | $23451 | $34167 |
| **12/31/2024** | $19102 | $23518 | $21767 | $33352 |
| **1/31/2025** | $19624 | $24352 | $22508 | $34281 |
| **2/28/2025** | $18671 | $23209 | $21676 | $33834 |
| **3/31/2025** | $17652 | $21754 | $20498 | $31928 |
| **4/30/2025** | $17235 | $21305 | $19905 | $31711 |
| **5/31/2025** | $17665 | $22580 | $21041 | $33707 |
| **6/30/2025** | $18318 | $23622 | $21992 | $35421 |
| **7/31/2025** | $18723 | $24078 | $22374 | $36216 |
| **8/31/2025** | $18932 | $25342 | $23548 | $36950 |
| **9/30/2025** | $18997 | $25748 | $23790 | $38299 |
| **10/31/2025** | $18658 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class C at NAV | (2.65%) | 8.26% | 6.44% |
| Class C with sales charge | (3.55%) | 8.26% | 6.44% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class C

# LVOCX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-586-C

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F

# LVOFX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F | $100 | 1.01% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.73%, reflecting performance at the net asset value (NAV) of Class F shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i04d65d30b8c3a673ab7501ba.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10058 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9716 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9212 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9245 | $9064 | $9206 | $9369 |
| **3/31/2016** | $10009 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10090 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10302 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10264 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10616 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10746 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10708 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10448 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11260 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11329 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11443 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11627 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11466 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11449 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11495 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11707 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11713 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11627 | $12212 | $12265 | $12371 |
| **9/30/2017** | $11989 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12155 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12456 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12493 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12749 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12139 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12175 | $13403 | $13051 | $13363 |
| **4/30/2018** | $12102 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12511 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12535 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12907 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13365 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13365 | $14833 | $14177 | $14887 |
| **10/31/2018** | $12151 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12342 | $13579 | $13210 | $14153 |
| **12/31/2018** | $11038 | $12091 | $11749 | $12875 |
| **1/31/2019** | $12046 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12469 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12355 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12745 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11744 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12557 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12543 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12389 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12724 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12805 | $14506 | $13755 | $15857 |
| **11/30/2019** | $13254 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13578 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13457 | $15135 | $13989 | $16922 |
| **2/29/2020** | $12237 | $13866 | $12640 | $15529 |
| **3/31/2020** | $10134 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11446 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12274 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12335 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12885 | $14289 | $11787 | $17332 |
| **8/31/2020** | $13103 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12862 | $14549 | $11849 | $17872 |
| **10/31/2020** | $13126 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14843 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15662 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15614 | $18991 | $15563 | $19841 |
| **2/28/2021** | $16983 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17509 | $20563 | $17789 | $21281 |
| **4/30/2021** | $18440 | $21385 | $18552 | $22416 |
| **5/31/2021** | $18336 | $21429 | $18929 | $22573 |
| **6/30/2021** | $18153 | $21682 | $18679 | $23100 |
| **7/31/2021** | $18456 | $21302 | $18405 | $23649 |
| **8/31/2021** | $18869 | $21786 | $18794 | $24368 |
| **9/30/2021** | $18416 | $21101 | $18292 | $23234 |
| **10/31/2021** | $19395 | $22135 | $19161 | $24862 |
| **11/30/2021** | $18904 | $21212 | $18494 | $24690 |
| **12/31/2021** | $19948 | $21908 | $19456 | $25797 |
| **1/31/2022** | $18193 | $20084 | $18467 | $24462 |
| **2/28/2022** | $18238 | $20310 | $18769 | $23729 |
| **3/31/2022** | $18013 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16663 | $18875 | $17865 | $22464 |
| **5/31/2022** | $16888 | $18939 | $18207 | $22505 |
| **6/30/2022** | $15231 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16699 | $18902 | $17784 | $22552 |
| **8/31/2022** | $15961 | $18399 | $17226 | $21632 |
| **9/30/2022** | $14412 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15709 | $18244 | $17119 | $21230 |
| **11/30/2022** | $16450 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15607 | $17883 | $16910 | $21125 |
| **1/31/2023** | $16882 | $19671 | $18600 | $22452 |
| **2/28/2023** | $16548 | $19210 | $18074 | $21904 |
| **3/31/2023** | $16205 | $18490 | $17146 | $22708 |
| **4/30/2023** | $16156 | $18248 | $16918 | $23063 |
| **5/31/2023** | $15833 | $17929 | $16435 | $23163 |
| **6/30/2023** | $16999 | $19456 | $17896 | $24693 |
| **7/31/2023** | $17627 | $20423 | $18945 | $25487 |
| **8/31/2023** | $17254 | $19621 | $18216 | $25081 |
| **9/30/2023** | $16509 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15745 | $17400 | $16273 | $23383 |
| **11/30/2023** | $16901 | $18967 | $17750 | $25518 |
| **12/31/2023** | $18236 | $20999 | $19613 | $26678 |
| **1/31/2024** | $18087 | $20450 | $19063 | $27126 |
| **2/29/2024** | $19233 | $21562 | $19827 | $28574 |
| **3/31/2024** | $20060 | $22452 | $20804 | $29494 |
| **4/30/2024** | $18794 | $20948 | $19496 | $28289 |
| **5/31/2024** | $19731 | $21820 | $20317 | $29692 |
| **6/30/2024** | $19352 | $21493 | $19908 | $30757 |
| **7/31/2024** | $20737 | $23089 | $21520 | $31132 |
| **8/31/2024** | $20797 | $23030 | $21519 | $31887 |
| **9/30/2024** | $21026 | $23373 | $21824 | $32568 |
| **10/31/2024** | $20777 | $23156 | $21549 | $32272 |
| **11/30/2024** | $22407 | $25435 | $23451 | $34167 |
| **12/31/2024** | $20756 | $23518 | $21767 | $33352 |
| **1/31/2025** | $21328 | $24352 | $22508 | $34281 |
| **2/28/2025** | $20312 | $23209 | $21676 | $33834 |
| **3/31/2025** | $19222 | $21754 | $20498 | $31928 |
| **4/30/2025** | $18766 | $21305 | $19905 | $31711 |
| **5/31/2025** | $19264 | $22580 | $21041 | $33707 |
| **6/30/2025** | $19984 | $23622 | $21992 | $35421 |
| **7/31/2025** | $20439 | $24078 | $22374 | $36216 |
| **8/31/2025** | $20682 | $25342 | $23548 | $36950 |
| **9/30/2025** | $20777 | $25748 | $23790 | $38299 |
| **10/31/2025** | $20418 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class F at NAV | (1.73%) | 9.24% | 7.40% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F

# LVOFX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-1029-F

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class F3

# LVOOX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class F3 | $82 | 0.83% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.56%, reflecting performance at the net asset value (NAV) of Class F3 shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i7f81001e22183bb96da43a33.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class F3** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **4/4/2017** | $10000 | $10000 | $10000 | $10000 |
| **4/30/2017** | $10054 | $10172 | $10057 | $10112 |
| **5/31/2017** | $10099 | $10058 | $9839 | $10254 |
| **6/30/2017** | $10286 | $10309 | $10100 | $10318 |
| **7/31/2017** | $10296 | $10416 | $10178 | $10530 |
| **8/31/2017** | $10222 | $10330 | $10002 | $10562 |
| **9/30/2017** | $10538 | $10798 | $10487 | $10780 |
| **10/31/2017** | $10691 | $10965 | $10544 | $11032 |
| **11/30/2017** | $10958 | $11326 | $10890 | $11370 |
| **12/31/2017** | $10995 | $11364 | $10933 | $11496 |
| **1/31/2018** | $11220 | $11710 | $11071 | $12155 |
| **2/28/2018** | $10685 | $11229 | $10527 | $11707 |
| **3/31/2018** | $10716 | $11337 | $10643 | $11409 |
| **4/30/2018** | $10653 | $11363 | $10759 | $11453 |
| **5/31/2018** | $11016 | $11898 | $11201 | $11729 |
| **6/30/2018** | $11037 | $11984 | $11260 | $11801 |
| **7/31/2018** | $11373 | $12216 | $11484 | $12240 |
| **8/31/2018** | $11772 | $12740 | $11745 | $12639 |
| **9/30/2018** | $11777 | $12547 | $11561 | $12711 |
| **10/31/2018** | $10706 | $11273 | $10573 | $11842 |
| **11/30/2018** | $10879 | $11486 | $10773 | $12083 |
| **12/31/2018** | $9728 | $10227 | $9582 | $10992 |
| **1/31/2019** | $10624 | $11405 | $10653 | $11873 |
| **2/28/2019** | $10994 | $11943 | $10985 | $12254 |
| **3/31/2019** | $10896 | $11845 | $10839 | $12493 |
| **4/30/2019** | $11243 | $12260 | $11219 | $12998 |
| **5/31/2019** | $10358 | $11388 | $10373 | $12172 |
| **6/30/2019** | $11081 | $12196 | $11044 | $13030 |
| **7/31/2019** | $11069 | $12322 | $11116 | $13218 |
| **8/31/2019** | $10936 | $11829 | $10574 | $13008 |
| **9/30/2019** | $11237 | $12039 | $11058 | $13252 |
| **10/31/2019** | $11306 | $12270 | $11218 | $13539 |
| **11/30/2019** | $11708 | $12796 | $11493 | $14030 |
| **12/31/2019** | $11992 | $13067 | $11840 | $14453 |
| **1/31/2020** | $11889 | $12801 | $11408 | $14448 |
| **2/29/2020** | $10808 | $11728 | $10308 | $13258 |
| **3/31/2020** | $8957 | $9183 | $7738 | $11621 |
| **4/30/2020** | $10116 | $10519 | $8762 | $13111 |
| **5/31/2020** | $10853 | $11296 | $9162 | $13735 |
| **6/30/2020** | $10912 | $11623 | $9332 | $14008 |
| **7/31/2020** | $11397 | $12086 | $9613 | $14798 |
| **8/31/2020** | $11585 | $12633 | $10049 | $15862 |
| **9/30/2020** | $11378 | $12306 | $9663 | $15259 |
| **10/31/2020** | $11611 | $12529 | $9881 | $14853 |
| **11/30/2020** | $13131 | $14570 | $11610 | $16479 |
| **12/31/2020** | $13862 | $15679 | $12417 | $17113 |
| **1/31/2021** | $13821 | $16063 | $12691 | $16940 |
| **2/28/2021** | $15037 | $17111 | $13821 | $17407 |
| **3/31/2021** | $15502 | $17393 | $14507 | $18169 |
| **4/30/2021** | $16329 | $18088 | $15130 | $19139 |
| **5/31/2021** | $16240 | $18125 | $15437 | $19273 |
| **6/30/2021** | $16083 | $18339 | $15233 | $19723 |
| **7/31/2021** | $16356 | $18018 | $15010 | $20191 |
| **8/31/2021** | $16725 | $18427 | $15326 | $20805 |
| **9/30/2021** | $16322 | $17848 | $14918 | $19838 |
| **10/31/2021** | $17190 | $18723 | $15626 | $21227 |
| **11/30/2021** | $16758 | $17942 | $15082 | $21080 |
| **12/31/2021** | $17690 | $18530 | $15867 | $22025 |
| **1/31/2022** | $16134 | $16988 | $15060 | $20885 |
| **2/28/2022** | $16172 | $17179 | $15306 | $20260 |
| **3/31/2022** | $15980 | $17452 | $15629 | $21012 |
| **4/30/2022** | $14785 | $15965 | $14569 | $19180 |
| **5/31/2022** | $14986 | $16019 | $14848 | $19215 |
| **6/30/2022** | $13522 | $14489 | $13223 | $17629 |
| **7/31/2022** | $14824 | $15988 | $14503 | $19254 |
| **8/31/2022** | $14169 | $15563 | $14048 | $18469 |
| **9/30/2022** | $12798 | $14080 | $12628 | $16768 |
| **10/31/2022** | $13953 | $15431 | $13961 | $18126 |
| **11/30/2022** | $14612 | $16083 | $14662 | $19139 |
| **12/31/2022** | $13866 | $15126 | $13791 | $18036 |
| **1/31/2023** | $15006 | $16639 | $15169 | $19169 |
| **2/28/2023** | $14712 | $16248 | $14739 | $18702 |
| **3/31/2023** | $14402 | $15639 | $13983 | $19388 |
| **4/30/2023** | $14360 | $15435 | $13797 | $19691 |
| **5/31/2023** | $14076 | $15164 | $13403 | $19777 |
| **6/30/2023** | $15115 | $16456 | $14594 | $21083 |
| **7/31/2023** | $15676 | $17274 | $15450 | $21761 |
| **8/31/2023** | $15349 | $16596 | $14855 | $21414 |
| **9/30/2023** | $14687 | $15669 | $14060 | $20393 |
| **10/31/2023** | $14009 | $14718 | $13271 | $19964 |
| **11/30/2023** | $15044 | $16042 | $14476 | $21788 |
| **12/31/2023** | $16237 | $17762 | $15995 | $22777 |
| **1/31/2024** | $16101 | $17297 | $15546 | $23160 |
| **2/29/2024** | $17124 | $18238 | $16169 | $24397 |
| **3/31/2024** | $17865 | $18991 | $16966 | $25182 |
| **4/30/2024** | $16740 | $17719 | $15899 | $24153 |
| **5/31/2024** | $17575 | $18456 | $16569 | $25351 |
| **6/30/2024** | $17243 | $18179 | $16235 | $26260 |
| **7/31/2024** | $18479 | $19530 | $17550 | $26580 |
| **8/31/2024** | $18538 | $19479 | $17549 | $27225 |
| **9/30/2024** | $18743 | $19769 | $17798 | $27806 |
| **10/31/2024** | $18530 | $19586 | $17574 | $27554 |
| **11/30/2024** | $19985 | $21514 | $19124 | $29172 |
| **12/31/2024** | $18512 | $19892 | $17751 | $28476 |
| **1/31/2025** | $19027 | $20597 | $18356 | $29269 |
| **2/28/2025** | $18123 | $19631 | $17677 | $28887 |
| **3/31/2025** | $17156 | $18400 | $16716 | $27260 |
| **4/30/2025** | $16749 | $18020 | $16232 | $27075 |
| **5/31/2025** | $17192 | $19099 | $17159 | $28779 |
| **6/30/2025** | $17834 | $19980 | $17935 | $30243 |
| **7/31/2025** | $18250 | $20366 | $18246 | $30921 |
| **8/31/2025** | $18467 | $21435 | $19204 | $31548 |
| **9/30/2025** | $18557 | $21778 | $19401 | $32700 |
| **10/31/2025** | $18241 | $21924 | $19350 | $33465 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | Since Inception 4/4/17 |
| Class F3 at NAV | (1.56%) | 9.46% | 7.26% |
| Russell 2500 Index | 11.94% | 11.84% | 9.59% |
| Russell 2500 Value Index | 10.11% | 14.39% | 8.00% |
| S&P 500 Index | 21.45% | 17.64% | 15.13% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class F3

# LVOOX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8983-F3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class I

# LVOYX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I | $90 | 0.91% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.63%, reflecting performance at the net asset value (NAV) of Class I shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iec70e988da67b8ee4808cf06.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10057 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9716 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9215 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9252 | $9064 | $9206 | $9369 |
| **3/31/2016** | $10014 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10099 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10307 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10275 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10627 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10755 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10718 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10457 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11274 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11342 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11461 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11641 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11489 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11466 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11517 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11726 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11737 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11652 | $12212 | $12265 | $12371 |
| **9/30/2017** | $12014 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12183 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12481 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12523 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12781 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12169 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12205 | $13403 | $13051 | $13363 |
| **4/30/2018** | $12133 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12547 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12571 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12949 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13405 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13411 | $14833 | $14177 | $14887 |
| **10/31/2018** | $12181 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12376 | $13579 | $13210 | $14153 |
| **12/31/2018** | $11068 | $12091 | $11749 | $12875 |
| **1/31/2019** | $12085 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12508 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12389 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12786 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11781 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12601 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12587 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12435 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12772 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12852 | $14506 | $13755 | $15857 |
| **11/30/2019** | $13301 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13627 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13509 | $15135 | $13989 | $16922 |
| **2/29/2020** | $12280 | $13866 | $12640 | $15529 |
| **3/31/2020** | $10178 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11488 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12324 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12391 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12939 | $14289 | $11787 | $17332 |
| **8/31/2020** | $13161 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12917 | $14549 | $11849 | $17872 |
| **10/31/2020** | $13183 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14913 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15734 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15695 | $18991 | $15563 | $19841 |
| **2/28/2021** | $17070 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17594 | $20563 | $17789 | $21281 |
| **4/30/2021** | $18532 | $21385 | $18552 | $22416 |
| **5/31/2021** | $18430 | $21429 | $18929 | $22573 |
| **6/30/2021** | $18250 | $21682 | $18679 | $23100 |
| **7/31/2021** | $18555 | $21302 | $18405 | $23649 |
| **8/31/2021** | $18970 | $21786 | $18794 | $24368 |
| **9/30/2021** | $18524 | $21101 | $18292 | $23234 |
| **10/31/2021** | $19501 | $22135 | $19161 | $24862 |
| **11/30/2021** | $19013 | $21212 | $18494 | $24690 |
| **12/31/2021** | $20063 | $21908 | $19456 | $25797 |
| **1/31/2022** | $18308 | $20084 | $18467 | $24462 |
| **2/28/2022** | $18343 | $20310 | $18769 | $23729 |
| **3/31/2022** | $18122 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16764 | $18875 | $17865 | $22464 |
| **5/31/2022** | $16993 | $18939 | $18207 | $22505 |
| **6/30/2022** | $15334 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16808 | $18902 | $17784 | $22552 |
| **8/31/2022** | $16067 | $18399 | $17226 | $21632 |
| **9/30/2022** | $14514 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15820 | $18244 | $17119 | $21230 |
| **11/30/2022** | $16562 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15708 | $17883 | $16910 | $21125 |
| **1/31/2023** | $17004 | $19671 | $18600 | $22452 |
| **2/28/2023** | $16668 | $19210 | $18074 | $21904 |
| **3/31/2023** | $16313 | $18490 | $17146 | $22708 |
| **4/30/2023** | $16274 | $18248 | $16918 | $23063 |
| **5/31/2023** | $15948 | $17929 | $16435 | $23163 |
| **6/30/2023** | $17129 | $19456 | $17896 | $24693 |
| **7/31/2023** | $17753 | $20423 | $18945 | $25487 |
| **8/31/2023** | $17388 | $19621 | $18216 | $25081 |
| **9/30/2023** | $16630 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15871 | $17400 | $16273 | $23383 |
| **11/30/2023** | $17036 | $18967 | $17750 | $25518 |
| **12/31/2023** | $18384 | $20999 | $19613 | $26678 |
| **1/31/2024** | $18228 | $20450 | $19063 | $27126 |
| **2/29/2024** | $19381 | $21562 | $19827 | $28574 |
| **3/31/2024** | $20221 | $22452 | $20804 | $29494 |
| **4/30/2024** | $18951 | $20948 | $19496 | $28289 |
| **5/31/2024** | $19889 | $21820 | $20317 | $29692 |
| **6/30/2024** | $19508 | $21493 | $19908 | $30757 |
| **7/31/2024** | $20914 | $23089 | $21520 | $31132 |
| **8/31/2024** | $20973 | $23030 | $21519 | $31887 |
| **9/30/2024** | $21207 | $23373 | $21824 | $32568 |
| **10/31/2024** | $20963 | $23156 | $21549 | $32272 |
| **11/30/2024** | $22613 | $25435 | $23451 | $34167 |
| **12/31/2024** | $20933 | $23518 | $21767 | $33352 |
| **1/31/2025** | $21514 | $24352 | $22508 | $34281 |
| **2/28/2025** | $20498 | $23209 | $21676 | $33834 |
| **3/31/2025** | $19399 | $21754 | $20498 | $31928 |
| **4/30/2025** | $18942 | $21305 | $19905 | $31711 |
| **5/31/2025** | $19440 | $22580 | $21041 | $33707 |
| **6/30/2025** | $20166 | $23622 | $21992 | $35421 |
| **7/31/2025** | $20632 | $24078 | $22374 | $36216 |
| **8/31/2025** | $20881 | $25342 | $23548 | $36950 |
| **9/30/2025** | $20974 | $25748 | $23790 | $38299 |
| **10/31/2025** | $20622 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class I at NAV | (1.63%) | 9.36% | 7.51% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class I

# LVOYX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-594-I

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class P

# LVOPX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class P | $135 | 1.36% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -2.08%, reflecting performance at the net asset value (NAV) of Class P shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](i089be6397191b48ca6134970.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class P** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10054 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9709 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9202 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9236 | $9064 | $9206 | $9369 |
| **3/31/2016** | $9998 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10071 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10282 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10238 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10589 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10711 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10672 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10410 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11222 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11281 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11393 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11570 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11411 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11387 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11428 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11635 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11641 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11552 | $12212 | $12265 | $12371 |
| **9/30/2017** | $11906 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12072 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12364 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12401 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12647 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12037 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12069 | $13403 | $13051 | $13363 |
| **4/30/2018** | $11999 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12401 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12414 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12785 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13231 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13231 | $14833 | $14177 | $14887 |
| **10/31/2018** | $12012 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12203 | $13579 | $13210 | $14153 |
| **12/31/2018** | $10906 | $12091 | $11749 | $12875 |
| **1/31/2019** | $11905 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12321 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12196 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12584 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11586 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12390 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12369 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12217 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12549 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12619 | $14506 | $13755 | $15857 |
| **11/30/2019** | $13057 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13376 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13252 | $15135 | $13989 | $16922 |
| **2/29/2020** | $12044 | $13866 | $12640 | $15529 |
| **3/31/2020** | $9972 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11257 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12075 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12130 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12668 | $14289 | $11787 | $17332 |
| **8/31/2020** | $12870 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12636 | $14549 | $11849 | $17872 |
| **10/31/2020** | $12893 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14570 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15376 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15327 | $18991 | $15563 | $19841 |
| **2/28/2021** | $16667 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17169 | $20563 | $17789 | $21281 |
| **4/30/2021** | $18073 | $21385 | $18552 | $22416 |
| **5/31/2021** | $17966 | $21429 | $18929 | $22573 |
| **6/30/2021** | $17785 | $21682 | $18679 | $23100 |
| **7/31/2021** | $18081 | $21302 | $18405 | $23649 |
| **8/31/2021** | $18476 | $21786 | $18794 | $24368 |
| **9/30/2021** | $18032 | $21101 | $18292 | $23234 |
| **10/31/2021** | $18978 | $22135 | $19161 | $24862 |
| **11/30/2021** | $18497 | $21212 | $18494 | $24690 |
| **12/31/2021** | $19517 | $21908 | $19456 | $25797 |
| **1/31/2022** | $17795 | $20084 | $18467 | $24462 |
| **2/28/2022** | $17823 | $20310 | $18769 | $23729 |
| **3/31/2022** | $17608 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16279 | $18875 | $17865 | $22464 |
| **5/31/2022** | $16495 | $18939 | $18207 | $22505 |
| **6/30/2022** | $14876 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16298 | $18902 | $17784 | $22552 |
| **8/31/2022** | $15568 | $18399 | $17226 | $21632 |
| **9/30/2022** | $14062 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15325 | $18244 | $17119 | $21230 |
| **11/30/2022** | $16035 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15208 | $17883 | $16910 | $21125 |
| **1/31/2023** | $16454 | $19671 | $18600 | $22452 |
| **2/28/2023** | $16127 | $19210 | $18074 | $21904 |
| **3/31/2023** | $15780 | $18490 | $17146 | $22708 |
| **4/30/2023** | $15729 | $18248 | $16918 | $23063 |
| **5/31/2023** | $15402 | $17929 | $16435 | $23163 |
| **6/30/2023** | $16536 | $19456 | $17896 | $24693 |
| **7/31/2023** | $17149 | $20423 | $18945 | $25487 |
| **8/31/2023** | $16781 | $19621 | $18216 | $25081 |
| **9/30/2023** | $16046 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15300 | $17400 | $16273 | $23383 |
| **11/30/2023** | $16422 | $18967 | $17750 | $25518 |
| **12/31/2023** | $17718 | $20999 | $19613 | $26678 |
| **1/31/2024** | $17563 | $20450 | $19063 | $27126 |
| **2/29/2024** | $18662 | $21562 | $19827 | $28574 |
| **3/31/2024** | $19470 | $22452 | $20804 | $29494 |
| **4/30/2024** | $18237 | $20948 | $19496 | $28289 |
| **5/31/2024** | $19128 | $21820 | $20317 | $29692 |
| **6/30/2024** | $18765 | $21493 | $19908 | $30757 |
| **7/31/2024** | $20103 | $23089 | $21520 | $31132 |
| **8/31/2024** | $20155 | $23030 | $21519 | $31887 |
| **9/30/2024** | $20362 | $23373 | $21824 | $32568 |
| **10/31/2024** | $20124 | $23156 | $21549 | $32272 |
| **11/30/2024** | $21694 | $25435 | $23451 | $34167 |
| **12/31/2024** | $20080 | $23518 | $21767 | $33352 |
| **1/31/2025** | $20633 | $24352 | $22508 | $34281 |
| **2/28/2025** | $19649 | $23209 | $21676 | $33834 |
| **3/31/2025** | $18588 | $21754 | $20498 | $31928 |
| **4/30/2025** | $18146 | $21305 | $19905 | $31711 |
| **5/31/2025** | $18621 | $22580 | $21041 | $33707 |
| **6/30/2025** | $19307 | $23622 | $21992 | $35421 |
| **7/31/2025** | $19749 | $24078 | $22374 | $36216 |
| **8/31/2025** | $19970 | $25342 | $23548 | $36950 |
| **9/30/2025** | $20058 | $25748 | $23790 | $38299 |
| **10/31/2025** | $19704 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class P at NAV | (2.08%) | 8.85% | 7.02% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class P

# LVOPX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-595-P

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R2

# LVOQX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R2 | $149 | 1.51% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -2.24%, reflecting performance at the net asset value (NAV) of Class R2 shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ia6bec96c51ca8946f5134d01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R2** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10049 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9704 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9201 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9229 | $9064 | $9206 | $9369 |
| **3/31/2016** | $9993 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10066 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10270 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10230 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10581 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10700 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10660 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10394 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11201 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11261 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11369 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11549 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11387 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11363 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11405 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11609 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11615 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11519 | $12212 | $12265 | $12371 |
| **9/30/2017** | $11873 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12035 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12326 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12365 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12608 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12000 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12032 | $13403 | $13051 | $13363 |
| **4/30/2018** | $11955 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12352 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12371 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12736 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13184 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13184 | $14833 | $14177 | $14887 |
| **10/31/2018** | $11975 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12156 | $13579 | $13210 | $14153 |
| **12/31/2018** | $10868 | $12091 | $11749 | $12875 |
| **1/31/2019** | $11866 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12269 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12149 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12531 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11540 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12340 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12319 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12163 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12488 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12559 | $14506 | $13755 | $15857 |
| **11/30/2019** | $12997 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13307 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13180 | $15135 | $13989 | $16922 |
| **2/29/2020** | $11977 | $13866 | $12640 | $15529 |
| **3/31/2020** | $9923 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11197 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12009 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12057 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12591 | $14289 | $11787 | $17332 |
| **8/31/2020** | $12798 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12551 | $14549 | $11849 | $17872 |
| **10/31/2020** | $12806 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14476 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15267 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15217 | $18991 | $15563 | $19841 |
| **2/28/2021** | $16547 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17052 | $20563 | $17789 | $21281 |
| **4/30/2021** | $17944 | $21385 | $18552 | $22416 |
| **5/31/2021** | $17843 | $21429 | $18929 | $22573 |
| **6/30/2021** | $17658 | $21682 | $18679 | $23100 |
| **7/31/2021** | $17944 | $21302 | $18405 | $23649 |
| **8/31/2021** | $18339 | $21786 | $18794 | $24368 |
| **9/30/2021** | $17893 | $21101 | $18292 | $23234 |
| **10/31/2021** | $18828 | $22135 | $19161 | $24862 |
| **11/30/2021** | $18352 | $21212 | $18494 | $24690 |
| **12/31/2021** | $19353 | $21908 | $19456 | $25797 |
| **1/31/2022** | $17650 | $20084 | $18467 | $24462 |
| **2/28/2022** | $17679 | $20310 | $18769 | $23729 |
| **3/31/2022** | $17458 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16140 | $18875 | $17865 | $22464 |
| **5/31/2022** | $16352 | $18939 | $18207 | $22505 |
| **6/30/2022** | $14745 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16150 | $18902 | $17784 | $22552 |
| **8/31/2022** | $15428 | $18399 | $17226 | $21632 |
| **9/30/2022** | $13937 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15178 | $18244 | $17119 | $21230 |
| **11/30/2022** | $15886 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15065 | $17883 | $16910 | $21125 |
| **1/31/2023** | $16296 | $19671 | $18600 | $22452 |
| **2/28/2023** | $15970 | $19210 | $18074 | $21904 |
| **3/31/2023** | $15623 | $18490 | $17146 | $22708 |
| **4/30/2023** | $15570 | $18248 | $16918 | $23063 |
| **5/31/2023** | $15254 | $17929 | $16435 | $23163 |
| **6/30/2023** | $16370 | $19456 | $17896 | $24693 |
| **7/31/2023** | $16969 | $20423 | $18945 | $25487 |
| **8/31/2023** | $16601 | $19621 | $18216 | $25081 |
| **9/30/2023** | $15875 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15139 | $17400 | $16273 | $23383 |
| **11/30/2023** | $16242 | $18967 | $17750 | $25518 |
| **12/31/2023** | $17514 | $20999 | $19613 | $26678 |
| **1/31/2024** | $17364 | $20450 | $19063 | $27126 |
| **2/29/2024** | $18454 | $21562 | $19827 | $28574 |
| **3/31/2024** | $19245 | $22452 | $20804 | $29494 |
| **4/30/2024** | $18027 | $20948 | $19496 | $28289 |
| **5/31/2024** | $18913 | $21820 | $20317 | $29692 |
| **6/30/2024** | $18539 | $21493 | $19908 | $30757 |
| **7/31/2024** | $19865 | $23089 | $21520 | $31132 |
| **8/31/2024** | $19907 | $23030 | $21519 | $31887 |
| **9/30/2024** | $20121 | $23373 | $21824 | $32568 |
| **10/31/2024** | $19875 | $23156 | $21549 | $32272 |
| **11/30/2024** | $21429 | $25435 | $23451 | $34167 |
| **12/31/2024** | $19830 | $23518 | $21767 | $33352 |
| **1/31/2025** | $20378 | $24352 | $22508 | $34281 |
| **2/28/2025** | $19396 | $23209 | $21676 | $33834 |
| **3/31/2025** | $18345 | $21754 | $20498 | $31928 |
| **4/30/2025** | $17911 | $21305 | $19905 | $31711 |
| **5/31/2025** | $18368 | $22580 | $21041 | $33707 |
| **6/30/2025** | $19042 | $23622 | $21992 | $35421 |
| **7/31/2025** | $19476 | $24078 | $22374 | $36216 |
| **8/31/2025** | $19693 | $25342 | $23548 | $36950 |
| **9/30/2025** | $19784 | $25748 | $23790 | $38299 |
| **10/31/2025** | $19430 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R2 at NAV | (2.24%) | 8.70% | 6.87% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R2

# LVOQX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2043-R2

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R3

# LVORX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R3 | $139 | 1.41% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -2.13%, reflecting performance at the net asset value (NAV) of Class R3 shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](if05b478bb9207a2f214c7212.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R3** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10055 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9706 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9201 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9235 | $9064 | $9206 | $9369 |
| **3/31/2016** | $9993 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10071 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10279 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10240 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10588 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10706 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10667 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10403 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11216 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11275 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11388 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11567 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11406 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11382 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11424 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11627 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11633 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11543 | $12212 | $12265 | $12371 |
| **9/30/2017** | $11895 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12062 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12350 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12388 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12636 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12027 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12058 | $13403 | $13051 | $13363 |
| **4/30/2018** | $11982 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12382 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12401 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12769 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13214 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13214 | $14833 | $14177 | $14887 |
| **10/31/2018** | $12008 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12194 | $13579 | $13210 | $14153 |
| **12/31/2018** | $10897 | $12091 | $11749 | $12875 |
| **1/31/2019** | $11892 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12306 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12187 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12573 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11577 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12376 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12355 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12201 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12531 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12601 | $14506 | $13755 | $15857 |
| **11/30/2019** | $13045 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13352 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13234 | $15135 | $13989 | $16922 |
| **2/29/2020** | $12028 | $13866 | $12640 | $15529 |
| **3/31/2020** | $9963 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11240 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12052 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12115 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12643 | $14289 | $11787 | $17332 |
| **8/31/2020** | $12848 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12611 | $14549 | $11849 | $17872 |
| **10/31/2020** | $12863 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14540 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15339 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15290 | $18991 | $15563 | $19841 |
| **2/28/2021** | $16630 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17137 | $20563 | $17789 | $21281 |
| **4/30/2021** | $18036 | $21385 | $18552 | $22416 |
| **5/31/2021** | $17928 | $21429 | $18929 | $22573 |
| **6/30/2021** | $17753 | $21682 | $18679 | $23100 |
| **7/31/2021** | $18044 | $21302 | $18405 | $23649 |
| **8/31/2021** | $18436 | $21786 | $18794 | $24368 |
| **9/30/2021** | $17986 | $21101 | $18292 | $23234 |
| **10/31/2021** | $18935 | $22135 | $19161 | $24862 |
| **11/30/2021** | $18447 | $21212 | $18494 | $24690 |
| **12/31/2021** | $19463 | $21908 | $19456 | $25797 |
| **1/31/2022** | $17745 | $20084 | $18467 | $24462 |
| **2/28/2022** | $17783 | $20310 | $18769 | $23729 |
| **3/31/2022** | $17555 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16236 | $18875 | $17865 | $22464 |
| **5/31/2022** | $16445 | $18939 | $18207 | $22505 |
| **6/30/2022** | $14832 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16255 | $18902 | $17784 | $22552 |
| **8/31/2022** | $15534 | $18399 | $17226 | $21632 |
| **9/30/2022** | $14025 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15278 | $18244 | $17119 | $21230 |
| **11/30/2022** | $15991 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15161 | $17883 | $16910 | $21125 |
| **1/31/2023** | $16405 | $19671 | $18600 | $22452 |
| **2/28/2023** | $16073 | $19210 | $18074 | $21904 |
| **3/31/2023** | $15731 | $18490 | $17146 | $22708 |
| **4/30/2023** | $15679 | $18248 | $16918 | $23063 |
| **5/31/2023** | $15358 | $17929 | $16435 | $23163 |
| **6/30/2023** | $16488 | $19456 | $17896 | $24693 |
| **7/31/2023** | $17090 | $20423 | $18945 | $25487 |
| **8/31/2023** | $16727 | $19621 | $18216 | $25081 |
| **9/30/2023** | $15991 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15254 | $17400 | $16273 | $23383 |
| **11/30/2023** | $16363 | $18967 | $17750 | $25518 |
| **12/31/2023** | $17658 | $20999 | $19613 | $26678 |
| **1/31/2024** | $17500 | $20450 | $19063 | $27126 |
| **2/29/2024** | $18605 | $21562 | $19827 | $28574 |
| **3/31/2024** | $19395 | $22452 | $20804 | $29494 |
| **4/30/2024** | $18174 | $20948 | $19496 | $28289 |
| **5/31/2024** | $19069 | $21820 | $20317 | $29692 |
| **6/30/2024** | $18690 | $21493 | $19908 | $30757 |
| **7/31/2024** | $20027 | $23089 | $21520 | $31132 |
| **8/31/2024** | $20079 | $23030 | $21519 | $31887 |
| **9/30/2024** | $20290 | $23373 | $21824 | $32568 |
| **10/31/2024** | $20048 | $23156 | $21549 | $32272 |
| **11/30/2024** | $21611 | $25435 | $23451 | $34167 |
| **12/31/2024** | $20004 | $23518 | $21767 | $33352 |
| **1/31/2025** | $20554 | $24352 | $22508 | $34281 |
| **2/28/2025** | $19577 | $23209 | $21676 | $33834 |
| **3/31/2025** | $18509 | $21754 | $20498 | $31928 |
| **4/30/2025** | $18071 | $21305 | $19905 | $31711 |
| **5/31/2025** | $18543 | $22580 | $21041 | $33707 |
| **6/30/2025** | $19228 | $23622 | $21992 | $35421 |
| **7/31/2025** | $19667 | $24078 | $22374 | $36216 |
| **8/31/2025** | $19880 | $25342 | $23548 | $36950 |
| **9/30/2025** | $19970 | $25748 | $23790 | $38299 |
| **10/31/2025** | $19622 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R3 at NAV | (2.13%) | 8.81% | 6.97% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R3

# LVORX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-2073-R3

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R4

# LVOSX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R4 | $115 | 1.16% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.85%, reflecting performance at the net asset value (NAV) of Class R4 shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](ifc0203fcc5dbe07ba9bfe7b9.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R4** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10054 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9712 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9212 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9245 | $9064 | $9206 | $9369 |
| **3/31/2016** | $10004 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10081 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10290 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10252 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10604 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10730 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10692 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10428 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11244 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11308 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11425 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11606 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11442 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11419 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11472 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11676 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11687 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11600 | $12212 | $12265 | $12371 |
| **9/30/2017** | $11956 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12125 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12418 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12455 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12709 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12095 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12132 | $13403 | $13051 | $13363 |
| **4/30/2018** | $12057 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12467 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12486 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12858 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13312 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13312 | $14833 | $14177 | $14887 |
| **10/31/2018** | $12088 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12281 | $13579 | $13210 | $14153 |
| **12/31/2018** | $10981 | $12091 | $11749 | $12875 |
| **1/31/2019** | $11987 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12404 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12281 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12671 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11672 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12487 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12466 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12315 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12651 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12726 | $14506 | $13755 | $15857 |
| **11/30/2019** | $13170 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13485 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13369 | $15135 | $13989 | $16922 |
| **2/29/2020** | $12148 | $13866 | $12640 | $15529 |
| **3/31/2020** | $10065 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11364 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12186 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12248 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12785 | $14289 | $11787 | $17332 |
| **8/31/2020** | $13001 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12762 | $14549 | $11849 | $17872 |
| **10/31/2020** | $13024 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14722 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15533 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15485 | $18991 | $15563 | $19841 |
| **2/28/2021** | $16848 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17360 | $20563 | $17789 | $21281 |
| **4/30/2021** | $18277 | $21385 | $18552 | $22416 |
| **5/31/2021** | $18171 | $21429 | $18929 | $22573 |
| **6/30/2021** | $17993 | $21682 | $18679 | $23100 |
| **7/31/2021** | $18293 | $21302 | $18405 | $23649 |
| **8/31/2021** | $18699 | $21786 | $18794 | $24368 |
| **9/30/2021** | $18252 | $21101 | $18292 | $23234 |
| **10/31/2021** | $19210 | $22135 | $19161 | $24862 |
| **11/30/2021** | $18726 | $21212 | $18494 | $24690 |
| **12/31/2021** | $19757 | $21908 | $19456 | $25797 |
| **1/31/2022** | $18018 | $20084 | $18467 | $24462 |
| **2/28/2022** | $18055 | $20310 | $18769 | $23729 |
| **3/31/2022** | $17834 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16499 | $18875 | $17865 | $22464 |
| **5/31/2022** | $16711 | $18939 | $18207 | $22505 |
| **6/30/2022** | $15073 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16518 | $18902 | $17784 | $22552 |
| **8/31/2022** | $15791 | $18399 | $17226 | $21632 |
| **9/30/2022** | $14263 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15542 | $18244 | $17119 | $21230 |
| **11/30/2022** | $16273 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15429 | $17883 | $16910 | $21125 |
| **1/31/2023** | $16694 | $19671 | $18600 | $22452 |
| **2/28/2023** | $16363 | $19210 | $18074 | $21904 |
| **3/31/2023** | $16012 | $18490 | $17146 | $22708 |
| **4/30/2023** | $15971 | $18248 | $16918 | $23063 |
| **5/31/2023** | $15640 | $17929 | $16435 | $23163 |
| **6/30/2023** | $16795 | $19456 | $17896 | $24693 |
| **7/31/2023** | $17417 | $20423 | $18945 | $25487 |
| **8/31/2023** | $17045 | $19621 | $18216 | $25081 |
| **9/30/2023** | $16303 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15550 | $17400 | $16273 | $23383 |
| **11/30/2023** | $16696 | $18967 | $17750 | $25518 |
| **12/31/2023** | $18011 | $20999 | $19613 | $26678 |
| **1/31/2024** | $17858 | $20450 | $19063 | $27126 |
| **2/29/2024** | $18980 | $21562 | $19827 | $28574 |
| **3/31/2024** | $19796 | $22452 | $20804 | $29494 |
| **4/30/2024** | $18552 | $20948 | $19496 | $28289 |
| **5/31/2024** | $19470 | $21820 | $20317 | $29692 |
| **6/30/2024** | $19092 | $21493 | $19908 | $30757 |
| **7/31/2024** | $20459 | $23089 | $21520 | $31132 |
| **8/31/2024** | $20520 | $23030 | $21519 | $31887 |
| **9/30/2024** | $20734 | $23373 | $21824 | $32568 |
| **10/31/2024** | $20490 | $23156 | $21549 | $32272 |
| **11/30/2024** | $22106 | $25435 | $23451 | $34167 |
| **12/31/2024** | $20457 | $23518 | $21767 | $33352 |
| **1/31/2025** | $21021 | $24352 | $22508 | $34281 |
| **2/28/2025** | $20023 | $23209 | $21676 | $33834 |
| **3/31/2025** | $18949 | $21754 | $20498 | $31928 |
| **4/30/2025** | $18494 | $21305 | $19905 | $31711 |
| **5/31/2025** | $18982 | $22580 | $21041 | $33707 |
| **6/30/2025** | $19687 | $23622 | $21992 | $35421 |
| **7/31/2025** | $20142 | $24078 | $22374 | $36216 |
| **8/31/2025** | $20370 | $25342 | $23548 | $36950 |
| **9/30/2025** | $20457 | $25748 | $23790 | $38299 |
| **10/31/2025** | $20110 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R4 at NAV | (1.85%) | 9.08% | 7.24% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R4

# LVOSX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8722-R4

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R5

# LVOTX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R5 | $89 | 0.90% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.63%, reflecting performance at the net asset value (NAV) of Class R5 shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](id6c59d7daa0d9cbafbe89eda.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R5** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10057 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9721 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9215 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9252 | $9064 | $9206 | $9369 |
| **3/31/2016** | $10020 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10099 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10313 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10275 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10632 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10760 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10723 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10462 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11281 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11348 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11461 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11647 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11489 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11472 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11518 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11726 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11738 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11653 | $12212 | $12265 | $12371 |
| **9/30/2017** | $12014 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12184 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12488 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12530 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12782 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12170 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12212 | $13403 | $13051 | $13363 |
| **4/30/2018** | $12140 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12548 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12572 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12950 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13406 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13412 | $14833 | $14177 | $14887 |
| **10/31/2018** | $12182 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12376 | $13579 | $13210 | $14153 |
| **12/31/2018** | $11069 | $12091 | $11749 | $12875 |
| **1/31/2019** | $12086 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12508 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12396 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12792 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11782 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12601 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12588 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12436 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12779 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12858 | $14506 | $13755 | $15857 |
| **11/30/2019** | $13309 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13635 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13516 | $15135 | $13989 | $16922 |
| **2/29/2020** | $12288 | $13866 | $12640 | $15529 |
| **3/31/2020** | $10180 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11497 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12333 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12392 | $13741 | $11443 | $16407 |
| **7/31/2020** | $12947 | $14289 | $11787 | $17332 |
| **8/31/2020** | $13161 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12924 | $14549 | $11849 | $17872 |
| **10/31/2020** | $13191 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14912 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15740 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15693 | $18991 | $15563 | $19841 |
| **2/28/2021** | $17076 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17599 | $20563 | $17789 | $21281 |
| **4/30/2021** | $18537 | $21385 | $18552 | $22416 |
| **5/31/2021** | $18435 | $21429 | $18929 | $22573 |
| **6/30/2021** | $18255 | $21682 | $18679 | $23100 |
| **7/31/2021** | $18560 | $21302 | $18405 | $23649 |
| **8/31/2021** | $18974 | $21786 | $18794 | $24368 |
| **9/30/2021** | $18521 | $21101 | $18292 | $23234 |
| **10/31/2021** | $19505 | $22135 | $19161 | $24862 |
| **11/30/2021** | $19018 | $21212 | $18494 | $24690 |
| **12/31/2021** | $20076 | $21908 | $19456 | $25797 |
| **1/31/2022** | $18303 | $20084 | $18467 | $24462 |
| **2/28/2022** | $18347 | $20310 | $18769 | $23729 |
| **3/31/2022** | $18127 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16769 | $18875 | $17865 | $22464 |
| **5/31/2022** | $16990 | $18939 | $18207 | $22505 |
| **6/30/2022** | $15332 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16805 | $18902 | $17784 | $22552 |
| **8/31/2022** | $16064 | $18399 | $17226 | $21632 |
| **9/30/2022** | $14512 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15817 | $18244 | $17119 | $21230 |
| **11/30/2022** | $16569 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15715 | $17883 | $16910 | $21125 |
| **1/31/2023** | $17000 | $19671 | $18600 | $22452 |
| **2/28/2023** | $16674 | $19210 | $18074 | $21904 |
| **3/31/2023** | $16319 | $18490 | $17146 | $22708 |
| **4/30/2023** | $16271 | $18248 | $16918 | $23063 |
| **5/31/2023** | $15945 | $17929 | $16435 | $23163 |
| **6/30/2023** | $17125 | $19456 | $17896 | $24693 |
| **7/31/2023** | $17758 | $20423 | $18945 | $25487 |
| **8/31/2023** | $17384 | $19621 | $18216 | $25081 |
| **9/30/2023** | $16636 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15868 | $17400 | $16273 | $23383 |
| **11/30/2023** | $17033 | $18967 | $17750 | $25518 |
| **12/31/2023** | $18389 | $20999 | $19613 | $26678 |
| **1/31/2024** | $18233 | $20450 | $19063 | $27126 |
| **2/29/2024** | $19385 | $21562 | $19827 | $28574 |
| **3/31/2024** | $20225 | $22452 | $20804 | $29494 |
| **4/30/2024** | $18946 | $20948 | $19496 | $28289 |
| **5/31/2024** | $19893 | $21820 | $20317 | $29692 |
| **6/30/2024** | $19512 | $21493 | $19908 | $30757 |
| **7/31/2024** | $20918 | $23089 | $21520 | $31132 |
| **8/31/2024** | $20976 | $23030 | $21519 | $31887 |
| **9/30/2024** | $21210 | $23373 | $21824 | $32568 |
| **10/31/2024** | $20966 | $23156 | $21549 | $32272 |
| **11/30/2024** | $22614 | $25435 | $23451 | $34167 |
| **12/31/2024** | $20936 | $23518 | $21767 | $33352 |
| **1/31/2025** | $21526 | $24352 | $22508 | $34281 |
| **2/28/2025** | $20501 | $23209 | $21676 | $33834 |
| **3/31/2025** | $19403 | $21754 | $20498 | $31928 |
| **4/30/2025** | $18947 | $21305 | $19905 | $31711 |
| **5/31/2025** | $19444 | $22580 | $21041 | $33707 |
| **6/30/2025** | $20169 | $23622 | $21992 | $35421 |
| **7/31/2025** | $20635 | $24078 | $22374 | $36216 |
| **8/31/2025** | $20884 | $25342 | $23548 | $36950 |
| **9/30/2025** | $20977 | $25748 | $23790 | $38299 |
| **10/31/2025** | $20625 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R5 at NAV | (1.63%) | 9.35% | 7.51% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R5

# LVOTX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8754-R5

#### 12/25
![Image](ib1de938fe94b75ae3a87d367.jpg)

# Class R6

# LVOVX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments
This annual shareholder report contains important information about the Lord Abbett Value Opportunities Fund for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at lordabbett.com/FundDocuments. You can also request this information by contacting us at 888-522-2388. **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)* 

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class R6 | $82 | 0.83% |

---

## How did the Fund perform last year and what affected its performance?
For the fiscal year ended October 31, 2025, the Fund returned -1.56%, reflecting performance at the net asset value (NAV) of Class R6 shares, with all distributions reinvested, compared to the 11.94% return of a securities market index with investment characteristics similar to those of the Fund, the Russell 2500 Index. The Fund's broad-based securities market index, the S&P 500 Index, returned 21.45% over the same period.

Positive factors for the markets included the Federal Reserve (Fed) shift towards dovish monetary policy, with rate cuts delivered in September and October, better-than-expected corporate earnings results and forward earnings guidance, continued generative artificial intelligence growth tailwinds, and economic data resilience, with consumer spending remaining firm. During the period, the market had mixed expectations for additional Fed rate cuts due to uncertainty around the effects of tariffs, persistent inflation, headwinds from trade talks, and mixed employment data.

**Top contributors to performance:** Security selection within the Energy sector contributed to relative performance, led by overweight allocations to TechnipFMC plc and Expand Energy Corporation.

**Top detractors from performance:** Security selection within the Health Care sector detracted from relative performance, led by an overweight allocation to Integer Holdings Corporation. Security selection within the Industrials sector also detracted from relative performance, led by an overweight allocation to Saia, Inc.

## **Fund Performance** 

### Total Return Based on $10,000 Investment
![Growth of 10K Chart](iefec4000b219520121a54589.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **Russell 2500 Index** | **Russell 2500 Value Index** | **S&P 500 Index** |
| **10/31/2015** | $10000 | $10000 | $10000 | $10000 |
| **11/30/2015** | $10057 | $10196 | $10168 | $10030 |
| **12/31/2015** | $9721 | $9781 | $9703 | $9872 |
| **1/31/2016** | $9221 | $9001 | $9108 | $9382 |
| **2/29/2016** | $9258 | $9064 | $9206 | $9369 |
| **3/31/2016** | $10025 | $9820 | $10026 | $10005 |
| **4/30/2016** | $10105 | $9964 | $10220 | $10043 |
| **5/31/2016** | $10318 | $10174 | $10401 | $10224 |
| **6/30/2016** | $10281 | $10170 | $10464 | $10250 |
| **7/31/2016** | $10637 | $10701 | $10940 | $10628 |
| **8/31/2016** | $10765 | $10786 | $11038 | $10643 |
| **9/30/2016** | $10733 | $10838 | $11110 | $10645 |
| **10/31/2016** | $10472 | $10398 | $10778 | $10451 |
| **11/30/2016** | $11292 | $11283 | $11811 | $10838 |
| **12/31/2016** | $11359 | $11502 | $12148 | $11052 |
| **1/31/2017** | $11478 | $11661 | $12214 | $11262 |
| **2/28/2017** | $11664 | $11942 | $12442 | $11709 |
| **3/31/2017** | $11506 | $11934 | $12345 | $11723 |
| **4/30/2017** | $11489 | $12026 | $12332 | $11843 |
| **5/31/2017** | $11540 | $11891 | $12065 | $12010 |
| **6/30/2017** | $11754 | $12188 | $12385 | $12085 |
| **7/31/2017** | $11765 | $12315 | $12481 | $12333 |
| **8/31/2017** | $11675 | $12212 | $12265 | $12371 |
| **9/30/2017** | $12042 | $12766 | $12859 | $12626 |
| **10/31/2017** | $12211 | $12964 | $12930 | $12921 |
| **11/30/2017** | $12515 | $13390 | $13353 | $13317 |
| **12/31/2017** | $12557 | $13435 | $13406 | $13465 |
| **1/31/2018** | $12815 | $13845 | $13575 | $14236 |
| **2/28/2018** | $12203 | $13275 | $12909 | $13711 |
| **3/31/2018** | $12239 | $13403 | $13051 | $13363 |
| **4/30/2018** | $12173 | $13435 | $13192 | $13414 |
| **5/31/2018** | $12587 | $14066 | $13735 | $13737 |
| **6/30/2018** | $12611 | $14168 | $13808 | $13822 |
| **7/31/2018** | $12989 | $14442 | $14082 | $14336 |
| **8/31/2018** | $13451 | $15062 | $14402 | $14803 |
| **9/30/2018** | $13451 | $14833 | $14177 | $14887 |
| **10/31/2018** | $12221 | $13327 | $12965 | $13870 |
| **11/30/2018** | $12419 | $13579 | $13210 | $14153 |
| **12/31/2018** | $11105 | $12091 | $11749 | $12875 |
| **1/31/2019** | $12128 | $13483 | $13062 | $13906 |
| **2/28/2019** | $12551 | $14120 | $13470 | $14353 |
| **3/31/2019** | $12439 | $14004 | $13291 | $14632 |
| **4/30/2019** | $12835 | $14495 | $13757 | $15224 |
| **5/31/2019** | $11825 | $13463 | $12719 | $14257 |
| **6/30/2019** | $12650 | $14418 | $13542 | $15262 |
| **7/31/2019** | $12637 | $14568 | $13630 | $15481 |
| **8/31/2019** | $12485 | $13986 | $12966 | $15236 |
| **9/30/2019** | $12828 | $14234 | $13560 | $15521 |
| **10/31/2019** | $12907 | $14506 | $13755 | $15857 |
| **11/30/2019** | $13358 | $15129 | $14093 | $16432 |
| **12/31/2019** | $13691 | $15449 | $14518 | $16928 |
| **1/31/2020** | $13573 | $15135 | $13989 | $16922 |
| **2/29/2020** | $12338 | $13866 | $12640 | $15529 |
| **3/31/2020** | $10224 | $10857 | $9489 | $13611 |
| **4/30/2020** | $11547 | $12437 | $10744 | $15356 |
| **5/31/2020** | $12390 | $13355 | $11234 | $16087 |
| **6/30/2020** | $12449 | $13741 | $11443 | $16407 |
| **7/31/2020** | $13003 | $14289 | $11787 | $17332 |
| **8/31/2020** | $13225 | $14936 | $12323 | $18578 |
| **9/30/2020** | $12981 | $14549 | $11849 | $17872 |
| **10/31/2020** | $13255 | $14813 | $12116 | $17397 |
| **11/30/2020** | $14992 | $17226 | $14236 | $19301 |
| **12/31/2020** | $15819 | $18537 | $15226 | $20043 |
| **1/31/2021** | $15780 | $18991 | $15563 | $19841 |
| **2/28/2021** | $17170 | $20230 | $16948 | $20388 |
| **3/31/2021** | $17693 | $20563 | $17789 | $21281 |
| **4/30/2021** | $18637 | $21385 | $18552 | $22416 |
| **5/31/2021** | $18535 | $21429 | $18929 | $22573 |
| **6/30/2021** | $18356 | $21682 | $18679 | $23100 |
| **7/31/2021** | $18668 | $21302 | $18405 | $23649 |
| **8/31/2021** | $19090 | $21786 | $18794 | $24368 |
| **9/30/2021** | $18629 | $21101 | $18292 | $23234 |
| **10/31/2021** | $19620 | $22135 | $19161 | $24862 |
| **11/30/2021** | $19127 | $21212 | $18494 | $24690 |
| **12/31/2021** | $20192 | $21908 | $19456 | $25797 |
| **1/31/2022** | $18423 | $20084 | $18467 | $24462 |
| **2/28/2022** | $18467 | $20310 | $18769 | $23729 |
| **3/31/2022** | $18238 | $20633 | $19164 | $24610 |
| **4/30/2022** | $16874 | $18875 | $17865 | $22464 |
| **5/31/2022** | $17102 | $18939 | $18207 | $22505 |
| **6/30/2022** | $15430 | $17130 | $16215 | $20648 |
| **7/31/2022** | $16918 | $18902 | $17784 | $22552 |
| **8/31/2022** | $16169 | $18399 | $17226 | $21632 |
| **9/30/2022** | $14611 | $16647 | $15484 | $19640 |
| **10/31/2022** | $15932 | $18244 | $17119 | $21230 |
| **11/30/2022** | $16685 | $19014 | $17979 | $22416 |
| **12/31/2022** | $15823 | $17883 | $16910 | $21125 |
| **1/31/2023** | $17125 | $19671 | $18600 | $22452 |
| **2/28/2023** | $16790 | $19210 | $18074 | $21904 |
| **3/31/2023** | $16436 | $18490 | $17146 | $22708 |
| **4/30/2023** | $16388 | $18248 | $16918 | $23063 |
| **5/31/2023** | $16063 | $17929 | $16435 | $23163 |
| **6/30/2023** | $17259 | $19456 | $17896 | $24693 |
| **7/31/2023** | $17891 | $20423 | $18945 | $25487 |
| **8/31/2023** | $17518 | $19621 | $18216 | $25081 |
| **9/30/2023** | $16761 | $18525 | $17241 | $23885 |
| **10/31/2023** | $15996 | $17400 | $16273 | $23383 |
| **11/30/2023** | $17169 | $18967 | $17750 | $25518 |
| **12/31/2023** | $18532 | $20999 | $19613 | $26678 |
| **1/31/2024** | $18376 | $20450 | $19063 | $27126 |
| **2/29/2024** | $19545 | $21562 | $19827 | $28574 |
| **3/31/2024** | $20392 | $22452 | $20804 | $29494 |
| **4/30/2024** | $19107 | $20948 | $19496 | $28289 |
| **5/31/2024** | $20061 | $21820 | $20317 | $29692 |
| **6/30/2024** | $19681 | $21493 | $19908 | $30757 |
| **7/31/2024** | $21094 | $23089 | $21520 | $31132 |
| **8/31/2024** | $21162 | $23030 | $21519 | $31887 |
| **9/30/2024** | $21395 | $23373 | $21824 | $32568 |
| **10/31/2024** | $21152 | $23156 | $21549 | $32272 |
| **11/30/2024** | $22814 | $25435 | $23451 | $34167 |
| **12/31/2024** | $21131 | $23518 | $21767 | $33352 |
| **1/31/2025** | $21719 | $24352 | $22508 | $34281 |
| **2/28/2025** | $20687 | $23209 | $21676 | $33834 |
| **3/31/2025** | $19582 | $21754 | $20498 | $31928 |
| **4/30/2025** | $19127 | $21305 | $19905 | $31711 |
| **5/31/2025** | $19633 | $22580 | $21041 | $33707 |
| **6/30/2025** | $20356 | $23622 | $21992 | $35421 |
| **7/31/2025** | $20831 | $24078 | $22374 | $36216 |
| **8/31/2025** | $21079 | $25342 | $23548 | $36950 |
| **9/30/2025** | $21182 | $25748 | $23790 | $38299 |
| **10/31/2025** | $20821 | $25920 | $23728 | $39196 |

---

The Fund's benchmarks are unmanaged indices used as a general measure of market performance. Calculations assume the reinvestment of dividends and capital gains.

## **Average Annual Total Returns (%)** 

---

| | | | |
|:---|:---|:---|:---|
| AATR | 1 Year | 5 Years | 10 Years |
| Class R6 at NAV | (1.56%) | 9.45% | 7.61% |
| Russell 2500 Index | 11.94% | 11.84% | 9.99% |
| Russell 2500 Value Index | 10.11% | 14.39% | 9.02% |
| S&P 500 Index | 21.45% | 17.64% | 14.64% |

---

**The Fund's past performance is no guarantee of future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** 

## **Key Fund Statistics** 
(as of *October 31, 2025*)

---

| | |
|:---|:---|
| Total Net Assets | $1085245175 |
| # of Portfolio Holdings | 67 |
| Portfolio Turnover Rate | 36% |
| Total Advisory Fees Paid | $8886635 |

---

## **What did the Fund invest in?** 
(as of October 31, 2025)

---

| | |
|:---|:---|
| **Portfolio Holdings Presented by Sector<sup>Footnote Reference\*</sup>** | **% <sup>Footnote Reference\*\*</sup>** |
| Consumer Discretionary | 8.49% |
| Consumer Staples | 4.28% |
| Energy | 4.93% |
| Financials | 20.22% |
| Health Care | 8.01% |
| Industrials | 25.65% |
| Information Technology | 19.19% |
| Materials | 3.22% |
| Real Estate | 2.30% |
| Utilities | 3.50% |
| Repurchase Agreements | 0.13% |
| Money Market Funds<sup>Footnote Reference(a)</sup> | 0.07% |
| Time Deposits<sup>Footnote Reference(a)</sup> | 0.01% |
| **Total** | **100.00%** |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;A sector may comprise several industries. |
| &nbsp;&nbsp;Footnote\*\* | &nbsp;&nbsp;Represents percent of total investments, which excludes derivatives. |
| &nbsp;&nbsp;Footnote(a) | &nbsp;&nbsp;Securities were purchased with the cash collateral from loaned securities. |

---

## **Summary of Fund Changes** 
This is a summary of certain changes to the Fund that occurred during the reporting period, except as otherwise noted. For more information contact 888-522-2388.

As of February 10, 2025, the Fund may invest up to 20% of its net assets in securities of foreign companies, including emerging market companies, American Depositary Receipts, Global Depositary Receipts, and other similar depositary receipts.

## **Where can I find additional information about the Fund?** 
For additional information about the Fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy information, please visit lordabbett.com/FundDocuments.

The Fund has adopted a policy that allows it to send only one copy of the Fund's prospectus, proxy material, annual report and semiannual report (or related notice of internet availability of annual report and semiannual report) to certain shareholders residing at the same "household." This reduces Fund expenses, which benefits you and other shareholders. If you need additional copies or do not want your mailings to be "householded," please call Lord Abbett at 888-522-2388.

![Image](ifd6b274bdc5db9f896e0b9a7.jpg)

# Class R6

# LVOVX

# Lord Abbett Value Opportunities Fund

#### Annual Shareholder Report

#### October 31, 2025

#### lordabbett.com/FundDocuments

#### TSR-A-8786-R6

#### 12/25
Item 1(b): Not applicable.

Item 2: Code of Ethics.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In accordance with applicable requirements, the Registrant adopted a Sarbanes-Oxley Code of Ethics on June 19, 2003 that applies to the principal executive officer and senior financial officers of the Registrant ("Code of Ethics"). The Code of Ethics was in effect during the fiscal year ended October 31, 2025 (the "Period").

(b) Not applicable.

(c) The Registrant has not amended the Code of Ethics as described in Form N-CSR during the Period.

(d) The Registrant has not granted any waiver, including an implicit waiver, from a provision of the Code of Ethics as described in Form N-CSR during the Period.

(e) Not applicable.

(f) See Item 19(a)(1) concerning the filing of the Code of Ethics.

---

| | |
|:---|:---|
| Item 3: | Audit Committee Financial Expert. |
|  | The Registrant's board of trustees has determined that each of the following independent trustees who are members of the audit committee is an audit committee financial expert: Evelyn E. Guernsey, Karla M. Rabusch, and Peter J. McNamara. Each of these persons is independent within the meaning of the Form N-CSR. |
| Item 4: | Principal Accountant Fees and Services. |
|  | In response to sections (a), (b), (c) and (d) of Item 4, the aggregate fees billed to the Registrant for the fiscal years ended October 31, 2025 and 2024 by the Registrant's principal accounting firm, Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu and their respective affiliates (collectively, "Deloitte") were as follows: |

---

---

| | | |
|:---|:---|:---|
|  | Fiscal year ended: | Fiscal year ended: |
|  | 2025 | 2024 |
| Audit Fees {a} | $547000 | $547000 |
| Audit-Related Fees | - 0 - | - 0 - |
| Total audit and audit-related fees | 547000 | 547000 |
| Tax Fees | - 0 - | - 0 - |
| All Other Fees {b} | $49927 | $82590 |
| &nbsp;&nbsp;&nbsp;Total Fees | $596927 | $629590 |

---

{a} Consists of fees for audits of the Registrant's annual financial statements.

{b} Fees for the fiscal year ended October 31, 2025 and 2024 consist of fees for services related to the recovery of excess dividend withholding taxes in certain jurisdictions.

(e) (1) Pursuant to Rule 2-01(c) (7) of Regulation S-X, the Registrant's Audit Committee has adopted pre-approval policies and procedures. Such policies and procedures generally provide that the Audit Committee must pre-approve:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any audit, audit-related, tax, and other services to be provided to the Lord Abbett Funds, including the Registrant, and

· any audit-related, tax, and other services to be provided to the Registrant's investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to one or more Funds comprising the Registrant if the engagement relates directly to operations and financial reporting of a Fund, by the independent auditor to assure that the provision of such services does not impair the auditor's independence.

The Audit Committee has delegated pre-approval authority to its Chair, subject to a fee limit of $10,000 per event, and not to exceed $25,000 annually. The Chair will report any pre-approval decisions to the Audit Committee at its next scheduled meeting. Unless a type of service to be provided by the independent auditor has received general pre-approval, it must be pre-approved by the Audit Committee. Any proposed services exceeding pre-approved cost levels will require specific pre-approval by the Audit Committee.

(e) (2) The Registrant's Audit Committee has approved 100% of the services described in paragraphs (b) through (d) of this Item 4, no amount was approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) The aggregate non-audit fees billed by Deloitte for services rendered to the Registrant are shown above in the response to Item 4 (a), (b), (c) and (d) as "All Other Fees".

The aggregate non-audit fees billed by Deloitte for services rendered to the Registrant's investment adviser, Lord, Abbett & Co. LLC ("Lord Abbett"), for the fiscal years ended October 31, 2025 and 2024 were:

---

| | | |
|:---|:---|:---|
|  | Fiscal year ended: | Fiscal year ended: |
|  | 2025 | 2024 |
| All Other Fees {a} | $260000 | $250000 |

---

{a} Consist of fees for Independent Services Auditors' Report on Controls Placed in Operation and Tests of Operating Effectiveness related to Lord Abbett's Asset Management Services ("SOC-1 Report").

The aggregate non-audit fees billed by Deloitte for services rendered to entities under the common control of Lord Abbett for the fiscal years ended October 31, 2025 and 2024 were:

---

| | | |
|:---|:---|:---|
|  | Fiscal year ended: | Fiscal year ended: |
|  | 2025 | 2024 |
| All Other Fees | $- 0 - | $- 0- |

---

(h) The Registrant's Audit Committee has considered the provision of non-audit services that were rendered to the Registrant's investment adviser, and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant, that were not pre-approved pursuant to Rule 2-01 (c)(7)(ii) of Regulation S-X and has determined that the provision of such services is compatible with maintaining Deloitte's independence.

(i) Not Applicable.

(j) Not Applicable.

---

| | |
|:---|:---|
| Item 5: | Audit Committee of Listed Registrants. |
|  | Not applicable. |
| Item 6: | Investments. |
|  | The Registrant's "Schedule I – Investments in securities of unaffiliated issuers" as of the close of the reporting period is included under Item 7 of this Form N-CSR. |
| Item 7: | Financial Statements and Financial Highlights for Open-End Management Investment Companies. |
| Item 8: | Changes in and Disagreements with Accountants for Open-End Management Investment Companies. |
| Item 9: | Proxy Disclosures for Open-End Management Investment Companies. |
| Item 10: | Remuneration Paid to Directors, Officers, and Others for Open-End Management Investment Companies. |

---

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract. <br> The Fund's Board of Trustees did not approve any investment advisory contract during the Fund's most recent fiscal half-year.

![](x6_c114183x1x1m4.jpg)

LORD ABBETT

FINANCIAL STATEMENTS

AND OTHER IMPORTANT

INFORMATION

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lord Abbett |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alpha Strategy Fund | Health Care Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Focused Growth Fund | International Equity Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Focused Large Cap Value Fund | International Opportunities Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Focused Small Cap Value Fund | International Value Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fundamental Equity Fund | Micro Cap Growth Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Equity Fund | Value Opportunities Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Growth Leaders Fund |  |

---

*For the fiscal year ended October 31, 2025*

**Table of Contents**

---

| | |
|:---|:---|
|  | [Schedules of Investments (Item 7)](#xx6xc114183a001xm4) |
| 1 | [Alpha Strategy Fund](#xx6xc114183a002xm4) |
| 2 | [Focused Growth Fund](#xx6xc114183a003xm4) |
| 4 | [Focused Large Cap Value Fund](#xx6xc114183a004xm4) |
| 6 | [Focused Small Cap Value Fund](#xx6xc114183a005xm4) |
| 9 | [Fundamental Equity Fund](#xx6xc114183a006xm4) |
| 12 | [Global Equity Fund](#xx6xc114183a007xm4) |
| 17 | [Growth Leaders Fund](#xx6xc114183a008xm4) |
| 20 | [Health Care Fund](#xx6xc114183a009xm4) |
| 23 | [International Equity Fund](#xx6xc114183a010xm4) |
| 29 | [International Opportunities Fund](#xx6xc114183a011xm4) |
| 36 | [International Value Fund](#xx6xc114183a012xm4) |
| 41 | [Micro Cap Growth Fund](#xx6xc114183a013xm4) |
| 45 | [Value Opportunities Fund](#xx6xc114183a014xm4) |
| 48 | [Statements of Assets and Liabilities (Item 7)](#xx6xc114183a015xm4) |
| 56 | [Statements of Operations (Item 7)](#xx6xc114183a016xm4) |
| 62 | [Statements of Changes in Net Assets (Item 7)](#xx6xc114183a017xm4) |
| 72 | [Financial Highlights (Item 7)](#xx6xc114183a018xm4) |
| 122 | [Notes to Financial Statements (Item 7)](#xx6xc114183a019xm4) |
| 154 | [Report of Independent Registered Public Accounting Firm (Item 7)](#xx6xc114183a020xm4) |
| 155 | [Investments in Underlying Funds](#xx6xc114183a021xm4) |
| 156 | [Changes in and Disagreements with Accountants (Item 8)](#xx6xc114183a022xm4) |
| 156 | [Proxy Disclosures (Item 9)](#xx6xc114183a023xm4) |
| 156 | [Remuneration Paid to Trustees, Officers, and Others (Item 10)](#xx6xc114183a024xm4) |

---

**Schedule of Investments**

ALPHA STRATEGY FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **LONG-TERM INVESTMENTS 100.02%** | **LONG-TERM INVESTMENTS 100.02%** |  |
| **INVESTMENTS IN UNDERLYING FUNDS**<sup>(a)(b)</sup> **100.02%** | **INVESTMENTS IN UNDERLYING FUNDS**<sup>(a)(b)</sup> **100.02%** | **INVESTMENTS IN UNDERLYING FUNDS**<sup>(a)(b)</sup> **100.02%** |
| Lord Abbett Developing Growth Fund, Inc. – Class I<sup>(c)</sup> | 3734653 | $130302038 |
| Lord Abbett Securities Trust – Focused Small Cap Value Fund – Class I\*<sup>(d)</sup> | 2072235 | 59224467 |
| Lord Abbett Securities Trust – International Opportunities Fund – Class I<sup>(d)</sup> | 5257812 | 118931703 |
| Lord Abbett Securities Trust – Micro Cap Growth Fund – Class I\*<sup>(d)</sup> | 2730512 | 68508557 |
| Lord Abbett Research Fund, Inc. – Small Cap Value Fund – Class I<sup>(d)</sup> | 5773647 | 118128818 |
| Lord Abbett Securities Trust – Value Opportunities Fund – Class I<sup>(d)</sup> | 5940262 | 118151820 |
| *Total Investments in Underlying Funds*<br> (cost $518,597,130) |  | 613247403 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal <br> Amount** | **Fair <br> Value** |
| **SHORT-TERM INVESTMENTS 0.04%** |  |  |
| **Repurchase Agreements 0.04%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $204,700 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $271,880; proceeds: $266,510<br> (cost $266,432) | $266432 | $266432 |
| *Total Investments in Securities 100.06%* <br> (cost $518,863,562) |  | 613513835 |
| Other Assets and Liabilities – Net (0.06)% |  | (397078) |
| Net Assets 100.00% |  | $613116757 |

---

---

| | |
|:---|:---|
| |  |
| \* | Non-income producing security. |
| <sup>(a)</sup> | These investments offer daily redemptions. |
| <sup>(b)</sup> | Affiliated funds (See Note 10). |
| <sup>(c)</sup> | Fund investment objective is long-term growth of capital through a diversified and actively managed portfolio consisting of developing growth companies, many of which are traded over the counter. |
| <sup>(d)</sup> | Fund investment objective is long-term capital appreciation. |

---

------

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in Underlying Funds | $613247403 | $– | $– | $613247403 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 266432 | – | 266432 |
| Total | $613247403 | $266432 | $– | $613513835 |

---

---

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

---

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

See Notes to Financial Statements. 1

**Schedule of Investments**

FOCUSED GROWTH FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 92.59%** |  |  |
| **COMMON STOCKS 92.59%** |  |  |
| **Aerospace & Defense 3.62%** |  |  |
| Axon Enterprise, Inc.\* | 5108 | $3740231 |
| Howmet Aerospace, Inc. | 13500 | 2780325 |
| *Total* |  | 6520556 |
| **Automobiles 1.53%** |  |  |
| Tesla, Inc.\* | 6029 | 2752600 |
| **Biotechnology 3.89%** |  |  |
| Argenx SE ADR\* | 4265 | 3490902 |
| Natera, Inc.\* | 17648 | 3510717 |
| *Total* |  | 7001619 |
| **Broadline Retail 6.74%** |  |  |
| Amazon.com, Inc.\* | 34140 | 8337671 |
| MercadoLibre, Inc. (Uruguay)\*<sup>(a)</sup> | 1630 | 3793434 |
| *Total* |  | 12131105 |
| **Capital Markets 2.13%** |  |  |
| Robinhood Markets, Inc. Class A\* | 26145 | 3837563 |
| **Communications Equipment 3.68%** |  |  |
| Arista Networks, Inc.\* | 41968 | 6617934 |
| **Construction & Engineering 4.62%** |  |  |
| Comfort Systems USA, Inc. | 4396 | 4244690 |
| EMCOR Group, Inc. | 6031 | 4075629 |
| *Total* |  | 8320319 |
| **Entertainment 4.10%** |  |  |
| Netflix, Inc.\* | 3816 | 4269570 |
| Spotify Technology SA (Sweden)\*<sup>(a)</sup> | 4751 | 3113425 |
| *Total* |  | 7382995 |
| **Financial Services 1.00%** |  |  |
| Visa, Inc. Class A | 5262 | 1792974 |
| **Ground Transportation 1.78%** |  |  |
| Uber Technologies, Inc.\* | 33237 | 3207371 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** | **Fair <br> Value** |
| **Hotels, Restaurants & Leisure 2.81%** | **Hotels, Restaurants & Leisure 2.81%** |  |  |
| DoorDash, Inc. Class A\* | 19874 | $| 5055349 |
| **Information Technology Services 5.58%** | **Information Technology Services 5.58%** | **Information Technology Services 5.58%** |  |
| Cloudflare, Inc. Class A\* | 17525 |  | 4439082 |
| Shopify, Inc. Class A (Canada)\*<sup>(a)</sup> | 32259 |  | 5608550 |
| *Total* |  |  | 10047632 |
| **Interactive Media & Services 10.63%** | **Interactive Media & Services 10.63%** | **Interactive Media & Services 10.63%** |  |
| Alphabet, Inc. Class A | 37053 |  | 10418933 |
| Meta Platforms, Inc. Class A | 9458 |  | 6132094 |
| Reddit, Inc. Class A\* | 12420 |  | 2595159 |
| *Total* |  |  | 19146186 |
| **Semiconductors & Semiconductor Equipment 19.44%** | **Semiconductors & Semiconductor Equipment 19.44%** | **Semiconductors & Semiconductor Equipment 19.44%** | **Semiconductors & Semiconductor Equipment 19.44%** |
| Advanced Micro Devices, Inc.\* | 16851 |  | 4315878 |
| Astera Labs, Inc.\* | 17646 |  | 3294155 |
| Broadcom, Inc. | 17531 |  | 6479984 |
| NVIDIA Corp. | 103268 |  | 20910737 |
| *Total* |  |  | 35000754 |
| **Software 16.33%** |  |  |  |
| AppLovin Corp. Class A\* | 4980 |  | 3173903 |
| Crowdstrike Holdings, Inc. Class A\* | 6850 |  | 3719619 |
| Guidewire Software, Inc.\* | 11298 |  | 2639665 |
| Microsoft Corp. | 22035 |  | 11409943 |
| Oracle Corp. | 11445 |  | 3005572 |
| Palantir Technologies, Inc. Class A\* | 27173 |  | 5447371 |
| *Total* |  |  | 29396073 |
| **Specialty Retail 2.03%** |  |  |  |
| Carvana Co.\* | 11907 |  | 3649972 |
| **Technology Hardware, Storage & Peripherals 2.68%** | **Technology Hardware, Storage & Peripherals 2.68%** | **Technology Hardware, Storage & Peripherals 2.68%** | **Technology Hardware, Storage & Peripherals 2.68%** |
| Apple, Inc. | 17857 |  | 4827997 |
| *Total Common Stocks* <br> (cost $109,936,708) |  |  | 166688999 |

---

<br> 2 See Notes to Financial Statements.

**Schedule of Investments (concluded)**

FOCUSED GROWTH FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal <br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 4.55%** | **SHORT-TERM INVESTMENTS 4.55%** |  |
| **Repurchase Agreements 4.55%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $6,289,000 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $8,351,238; proceeds: $8,189,687 <br> (cost $8,187,299) | $8187299 | $8187299 |
| *Total Investments in Securities 97.14%* <br> (cost $118,124,007) |  | 174876298 |
| *Other Assets and Liabilities – Net 2.86%* |  | 5141874 |
| *Net Assets 100.00%* |  | $180018172 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Foreign security traded in U.S. dollars. |

---

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $166688999 | $– | $– | $166688999 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 8187299 | – | 8187299 |
| Total | $166688999 | $8187299 | $– | $174876298 |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |

---

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

See Notes to Financial Statements. 3

**Schedule of Investments**

FOCUSED LARGE CAP VALUE FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** | **Fair <br> Value** |
| **LONG-TERM INVESTMENTS 98.12%** |  |  |  |
| **COMMON STOCKS 98.12%** |  |  |  |
| **Aerospace & Defense 7.10%** |  |  |  |
| Boeing Co.\* | 13238 | $| 2661103 |
| RTX Corp. | 18182 |  | 3245487 |
| *Total* |  |  | 5906590 |
| **Banks 4.09%** |  |  |  |
| JPMorgan Chase & Co. | 10932 |  | 3401164 |
| **Beverages 3.08%** |  |  |  |
| Carlsberg AS Class B<sup>(a)</sup> | 21793 |  | 2562411 |
| **Biotechnology 6.68%** |  |  |  |
| AbbVie, Inc. | 14674 |  | 3199519 |
| Gilead Sciences, Inc. | 19685 |  | 2358066 |
| *Total* |  |  | 5557585 |
| **Building Products 3.77%** |  |  |  |
| Allegion PLC (Ireland)<sup>(b)</sup> | 18912 |  | 3135042 |
| **Capital Markets 9.62%** |  |  |  |
| Charles Schwab Corp. | 28638 |  | 2706864 |
| KKR & Co., Inc. | 17676 |  | 2091601 |
| SEI Investments Co. | 39664 |  | 3197315 |
| *Total* |  |  | 7995780 |
| **Construction Materials 3.77%** |  |  |  |
| CRH PLC (Ireland)<sup>(b)</sup> | 26327 |  | 3135546 |
| **Consumer Staples Distribution & Retail 2.33%** | **Consumer Staples Distribution & Retail 2.33%** | **Consumer Staples Distribution & Retail 2.33%** |  |
| BJ's Wholesale Club Holdings, Inc.\* | 21947 |  | 1937042 |
| **Electronic Equipment, Instruments & Components 2.54%** | **Electronic Equipment, Instruments & Components 2.54%** | **Electronic Equipment, Instruments & Components 2.54%** | **Electronic Equipment, Instruments & Components 2.54%** |
| TD SYNNEX Corp. | 13478 |  | 2109172 |
| **Health Care Providers & Services 2.94%** | **Health Care Providers & Services 2.94%** | **Health Care Providers & Services 2.94%** |  |
| Labcorp Holdings, Inc. | 9611 |  | 2440809 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** | **Fair <br> Value** |
| **Insurance 9.66%** |  |  |  |
| Aon PLC Class A (United Kingdom)<sup>(b)</sup> | 9828 | $| 3348203 |
| Arch Capital Group Ltd. | 30127 |  | 2600261 |
| RenaissanceRe Holdings Ltd. | 8184 |  | 2079473 |
| *Total* |  |  | 8027937 |
| **Interactive Media & Services 4.95%** |  |  |  |
| Alphabet, Inc. Class A | 14627 |  | 4112966 |
| **Life Sciences Tools & Services 3.44%** | **Life Sciences Tools & Services 3.44%** | **Life Sciences Tools & Services 3.44%** |  |
| IQVIA Holdings, Inc.\* | 13209 |  | 2859220 |
| **Machinery 3.07%** |  |  |  |
| Parker-Hannifin Corp. | 3297 |  | 2548020 |
| **Oil, Gas & Consumable Fuels 7.30%** |  |  |  |
| Expand Energy Corp. | 21592 |  | 2230670 |
| Permian Resources Corp. | 118054 |  | 1482758 |
| Shell PLC ADR | 31477 |  | 2358257 |
| *Total* |  |  | 6071685 |
| **Real Estate Management & Development 3.02%** | **Real Estate Management & Development 3.02%** | **Real Estate Management & Development 3.02%** |  |
| CBRE Group, Inc. Class A\* | 16462 |  | 2509303 |
| **Semiconductors & Semiconductor Equipment 4.03%** | **Semiconductors & Semiconductor Equipment 4.03%** | **Semiconductors & Semiconductor Equipment 4.03%** | **Semiconductors & Semiconductor Equipment 4.03%** |
| Taiwan Semiconductor |  |  |  |
| Manufacturing Co. Ltd. ADR | 11159 |  | 3352498 |
| **Software 4.26%** |  |  |  |
| Microsoft Corp. | 6839 |  | 3541303 |
| **Specialty Retail 9.11%** |  |  |  |
| AutoZone, Inc.\* | 593 |  | 2178937 |
| Dick's Sporting Goods, Inc. | 11944 |  | 2644999 |
| Lowe's Cos., Inc. | 11564 |  | 2753735 |
| *Total* |  |  | 7577671 |
| **Trading Companies & Distributors 3.36%** | **Trading Companies & Distributors 3.36%** | **Trading Companies & Distributors 3.36%** |  |
| AerCap Holdings NV (Ireland)<sup>(b)</sup> | 21474 |  | 2796774 |
| *Total Common Stocks* <br> (cost $69,719,117) |  |  | 81578518 |

---

<br> 4 See Notes to Financial Statements.

**Schedule of Investments (concluded)**

FOCUSED LARGE CAP VALUE FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal <br> Amount** | **Fair <br> Value** |
| **SHORT-TERM INVESTMENTS 1.98%** |  |  |
| **Repurchase Agreements 1.98%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $1,261,000 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $1,674,534; proceeds: $1,642,069 <br> (cost $1,641,590) | $1641590 | $1641590 |
| *Total Investments in Securities 100.10%* <br> (cost $71,360,707) |  | 83220108 |
| *Other Assets and Liabilities – Net (0.10)%* |  | (81963) |
| *Net Assets 100.00%* |  | $83138145 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Investment in non-U.S. dollar denominated securities. |
| <sup>(b)</sup> | Foreign security traded in U.S. dollars. |

---

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beverages | $– | $2562411 | $– | $2562411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries | 79016107 |  |  | 79016107 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 1641590 | – | 1641590 |
| Total | $79016107 | $4204001 | $– | $83220108 |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |

---

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

See Notes to Financial Statements. 5

**Schedule of Investments**

FOCUSED SMALL CAP VALUE FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **LONG-TERM INVESTMENTS 98.18%** |  |  |
| **COMMON STOCKS 98.18%** |  |  |
| **Automobile Components 2.84%** |  |  |
| LCI Industries | 23598 | $2442157 |
| **Banks 12.84%** |  |  |
| Axos Financial, Inc.\* | 22922 | 1787457 |
| Bancorp, Inc.\* | 27234 | 1780287 |
| Bank of NT Butterfield & Son Ltd. | 25785 | 1192814 |
| First BanCorp | 96353 | 1877920 |
| Seacoast Banking Corp. of Florida | 68481 | 2074974 |
| Wintrust Financial Corp. | 18039 | 2345431 |
| *Total* |  | 11058883 |
| **Building Products 4.09%** |  |  |
| Griffon Corp. | 30007 | 2220818 |
| UFP Industries, Inc. | 14147 | 1303363 |
| *Total* |  | 3524181 |
| **Capital Markets 3.46%** |  |  |
| Affiliated Managers Group, Inc. | 5416 | 1288792 |
| Marex Group PLC (United Kingdom)<sup>(a)</sup> | 55629 | 1688340 |
| *Total* |  | 2977132 |
| **Chemicals 4.97%** |  |  |
| Avient Corp. | 55596 | 1782964 |
| Element Solutions, Inc. | 93648 | 2502274 |
| *Total* |  | 4285238 |
| **Commercial Services & Supplies 2.55%** | **Commercial Services & Supplies 2.55%** |  |
| Brady Corp. Class A | 28911 | 2194634 |
| **Construction & Engineering 4.47%** |  |  |
| Arcosa, Inc. | 18554 | 1892508 |
| WillScot Holdings Corp. | 90091 | 1959479 |
| *Total* |  | 3851987 |
| **Consumer Finance 2.48%** |  |  |
| FirstCash Holdings, Inc. | 13458 | 2133093 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** | **Fair <br> Value** |
| **Consumer Staples Distribution & Retail 1.64%** | **Consumer Staples Distribution & Retail 1.64%** | **Consumer Staples Distribution & Retail 1.64%** |  |
| PriceSmart, Inc. | 12307 | $| 1414567 |
| **Electric: Utilities 2.90%** |  |  |  |
| IDACORP, Inc. | 19354 |  | 2497053 |
| **Electronic Equipment, Instruments & Components 13.98%** | **Electronic Equipment, Instruments & Components 13.98%** | **Electronic Equipment, Instruments & Components 13.98%** | **Electronic Equipment, Instruments & Components 13.98%** |
| Advanced Energy Industries, Inc. | 9742 |  | 1974996 |
| Belden, Inc. | 18711 |  | 2279935 |
| Crane NXT Co. | 36439 |  | 2304767 |
| Littelfuse, Inc. | 9720 |  | 2364973 |
| Vishay Precision Group, Inc.\* | 83172 |  | 3115623 |
| *Total* |  |  | 12040294 |
| **Ground Transportation 2.48%** |  |  |  |
| Landstar System, Inc. | 16653 |  | 2138745 |
| **Health Care Equipment & Supplies 1.11%** | **Health Care Equipment & Supplies 1.11%** | **Health Care Equipment & Supplies 1.11%** |  |
| Integer Holdings Corp.\* | 14862 |  | 959639 |
| **Health Care Providers & Services 2.04%** | **Health Care Providers & Services 2.04%** | **Health Care Providers & Services 2.04%** |  |
| Addus HomeCare Corp.\* | 15054 |  | 1759662 |
| **Household Durables 1.53%** |  |  |  |
| Taylor Morrison Home Corp.\* | 22241 |  | 1318224 |
| **Insurance 7.14%** |  |  |  |
| Kemper Corp. | 43798 |  | 1970472 |
| TWFG, Inc.\* | 50073 |  | 1219778 |
| White Mountains Insurance Group Ltd. | 1555 |  | 2961591 |
| *Total* |  |  | 6151841 |
| **Leisure Products 2.30%** |  |  |  |
| Acushnet Holdings Corp. | 25637 |  | 1982509 |
| **Life Sciences Tools & Services 1.98%** | **Life Sciences Tools & Services 1.98%** | **Life Sciences Tools & Services 1.98%** |  |
| Fortrea Holdings, Inc.\* | 163110 |  | 1706131 |
| **Machinery 2.24%** |  |  |  |
| Worthington Enterprises, Inc. | 34459 |  | 1932805 |

---

<br> 6 See Notes to Financial Statements.

**Schedule of Investments (continued)**

FOCUSED SMALL CAP VALUE FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** | **Fair <br> Value** |
| **Media 1.53%** |  |  |  |
| Nexstar Media Group, Inc. | 6732 | $| 1317655 |
| **Oil, Gas & Consumable Fuels 3.15%** |  |  |  |
| Chord Energy Corp. | 13296 |  | 1206213 |
| Gulfport Energy Corp.\* | 8083 |  | 1503519 |
| *Total* |  |  | 2709732 |
| **Pharmaceuticals 1.95%** |  |  |  |
| Phibro Animal Health Corp. Class A | 39925 |  | 1679246 |
| **Professional Services 2.47%** |  |  |  |
| Genpact Ltd. | 55828 |  | 2129838 |
| **Real Estate Management & Development 3.72%** | **Real Estate Management & Development 3.72%** | **Real Estate Management & Development 3.72%** |  |
| Cushman & Wakefield PLC\* | 204156 |  | 3205249 |
| **Semiconductors & Semiconductor Equipment 3.29%** | **Semiconductors & Semiconductor Equipment 3.29%** | **Semiconductors & Semiconductor Equipment 3.29%** | **Semiconductors & Semiconductor Equipment 3.29%** |
| Silicon Motion Technology Corp. ADR | 28882 |  | 2833613 |
| **Software 1.85%** |  |  |  |
| Blackbaud, Inc.\* | 24873 |  | 1592867 |
| **Textiles, Apparel & Luxury Goods 1.47%** | **Textiles, Apparel & Luxury Goods 1.47%** | **Textiles, Apparel & Luxury Goods 1.47%** | **Textiles, Apparel & Luxury Goods 1.47%** |
| Samsonite Group SA<sup>†(b)</sup> | 606000 |  | 1267182 |
| **Trading Companies & Distributors 1.71%** | **Trading Companies & Distributors 1.71%** | **Trading Companies & Distributors 1.71%** | **Trading Companies & Distributors 1.71%** |
| Rush Enterprises, Inc. Class A | 29797 |  | 1472270 |
| *Total Common Stocks*<br> (cost $74,004,306) |  |  | 84576427 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal <br> Amount** | **Fair <br> Value** |
| **SHORT-TERM INVESTMENTS 2.29%** |  |  |
| **Repurchase Agreements 2.29%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $1,515,700 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $2,012,717; proceeds: $1,973,780 <br> (cost $1,973,205) | $1973205 | $1973205 |
| *Total Investments in Securities 100.47%*<br> (cost $75,977,511) |  | 86549632 |
| *Other Assets and Liabilities – Net (0.47)%* |  | (408257) |
| *Net Assets 100.00%* |  | $86141375 |

---

---

| | |
|:---|:---|
| |  |
| ADR | American Depositary Receipt. |
| \* | Non-income producing security. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At October 31, 2025, the total value of Rule 144A securities was $1,267,182, which represents 1.47% of net assets. |
| <sup>(a)</sup> | Foreign security traded in U.S. dollars. |
| <sup>(b)</sup> | Investment in non-U.S. dollar denominated securities. |

---

<br> See Notes to Financial Statements. 7

**Schedule of Investments (concluded)**

FOCUSED SMALL CAP VALUE FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Textiles, Apparel & Luxury Goods | $– | $1267182 | $– | $1267182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries | 83309245 |  |  | 83309245 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 1973205 | – | 1973205 |
| Total | $83309245 | $3240387 | $– | $86549632 |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |

---

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

8 See Notes to Financial Statements.

**Schedule of Investments**

FUNDAMENTAL EQUITY FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 99.47%** |  |  |
| **COMMON STOCKS 99.47%** |  |  |
| **Aerospace & Defense 5.27%** |  |  |
| Boeing Co.\* | 223187 | $44865051 |
| RTX Corp. | 362180 | 64649130 |
| *Total* |  | 109514181 |
| **Banks 7.03%** |  |  |
| JPMorgan Chase & Co. | 280878 | 87386763 |
| Wells Fargo & Co. | 676307 | 58818420 |
| *Total* |  | 146205183 |
| **Beverages 1.79%** |  |  |
| Carlsberg AS Class B<sup>(a)</sup> | 316622 | 37228267 |
| **Biotechnology 5.56%** |  |  |
| AbbVie, Inc. | 214117 | 46686071 |
| Gilead Sciences, Inc. | 225890 | 27059363 |
| United Therapeutics Corp.\* | 94028 | 41882892 |
| *Total* |  | 115628326 |
| **Building Products 1.98%** |  |  |
| Allegion PLC (Ireland)<sup>(b)</sup> | 248944 | 41267447 |
| **Capital Markets 7.66%** |  |  |
| Charles Schwab Corp. | 385365 | 36424700 |
| KKR & Co., Inc. | 184109 | 21785618 |
| Morgan Stanley | 205605 | 33719220 |
| Nasdaq, Inc. | 325602 | 27835715 |
| SEI Investments Co. | 490940 | 39574673 |
| *Total* |  | 159339926 |
| **Construction & Engineering 3.26%** | **Construction & Engineering 3.26%** |  |
| AECOM | 312200 | 41944070 |
| EMCOR Group, Inc. | 38295 | 25878995 |
| *Total* |  | 67823065 |
| **Construction Materials 1.85%** |  |  |
| CRH PLC (Ireland)<sup>(b)</sup> | 322209 | 38375092 |
| **Consumer Finance 1.44%** |  |  |
| American Express Co. | 82906 | 29906681 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** | **Fair<br> Value** |
| **Consumer Staples Distribution & Retail 1.26%** | **Consumer Staples Distribution & Retail 1.26%** | | |
| BJ's Wholesale Club Holdings, Inc.\* | 296818 | $| 26197157 |
| **Electric: Utilities 2.68%** |  |  |  |
| Entergy Corp. | 327186 |  | 31439303 |
| FirstEnergy Corp. | 527656 |  | 24182474 |
| *Total* |  |  | 55621777 |
| **Electronic Equipment, Instruments & Components 4.21%** | **Electronic Equipment, Instruments & Components 4.21%** | **Electronic Equipment, Instruments & Components 4.21%** | **Electronic Equipment, Instruments & Components 4.21%** |
| Jabil, Inc. | 137540 |  | 30381211 |
| Keysight Technologies, Inc.\* | 192840 |  | 35282006 |
| TD SYNNEX Corp. | 139986 |  | 21906409 |
| *Total* |  |  | 87569626 |
| **Health Care Providers & Services 3.69%** | **Health Care Providers & Services 3.69%** |  |  |
| Labcorp Holdings, Inc. | 141809 |  | 36013814 |
| McKesson Corp. | 50177 |  | 40710607 |
| *Total* |  |  | 76724421 |
| **Hotels, Restaurants & Leisure 1.12%** | **Hotels, Restaurants & Leisure 1.12%** |  |  |
| Booking Holdings, Inc. | 4580 |  | 23256049 |
| **Industrial REITS 1.58%** |  |  |  |
| Prologis, Inc. | 264146 |  | 32777877 |
| **Insurance 8.81%** |  |  |  |
| Aon PLC Class A (United Kingdom)<sup>(b)</sup> | 117921 |  | 40173326 |
| Arch Capital Group Ltd. | 463434 |  | 39998988 |
| Arthur J Gallagher & Co. | 128232 |  | 31992602 |
| Progressive Corp. | 151920 |  | 31295520 |
| RenaissanceRe Holdings Ltd. | 156208 |  | 39690891 |
| *Total* |  |  | 183151327 |
| **Interactive Media & Services 4.68%** | **Interactive Media & Services 4.68%** |  |  |
| Alphabet, Inc. Class A | 345920 |  | 97269245 |
| **Life Sciences Tools & Services 1.74%** | **Life Sciences Tools & Services 1.74%** |  |  |
| IQVIA Holdings, Inc.\* | 167586 |  | 36275666 |

---

<br> *See Notes to Financial Statements.* 9

**Schedule of Investments (continued)**

FUNDAMENTAL EQUITY FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** | **Fair<br> Value** |
| **Machinery 3.06%** |  |  |  |
| AGCO Corp. | 288670 | $| 29779197 |
| Parker-Hannifin Corp. | 43795 |  | 33846090 |
| *Total* |  |  | 63625287 |
| **Metals & Mining 1.86%** |  |  |  |
| Steel Dynamics, Inc. | 246766 |  | 38692909 |
| **Multi-Utilities 1.58%** |  |  |  |
| CMS Energy Corp. | 446690 |  | 32854050 |
| **Oil, Gas & Consumable Fuels 6.45%** | **Oil, Gas & Consumable Fuels 6.45%** |  |  |
| Expand Energy Corp. | 341565 |  | 35287080 |
| Permian Resources Corp. | 2239750 |  | 28131260 |
| Shell PLC ADR | 628177 |  | 47063021 |
| Williams Cos., Inc. | 409720 |  | 23710496 |
| *Total* |  |  | 134191857 |
| **Pharmaceuticals 1.62%** |  |  |  |
| Teva Pharmaceutical Industries Ltd. ADR\* | 1639700 |  | 33581056 |
| **Real Estate Management & Development 1.64%** | **Real Estate Management & Development 1.64%** | **Real Estate Management & Development 1.64%** | **Real Estate Management & Development 1.64%** |
| CBRE Group, Inc. Class A\* | 223696 |  | 34097981 |
| **Semiconductors & Semiconductor Equipment 2.01%** | **Semiconductors & Semiconductor Equipment 2.01%** | **Semiconductors & Semiconductor Equipment 2.01%** | **Semiconductors & Semiconductor Equipment 2.01%** |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 139105 |  | 41791315 |
| **Software 3.36%** |  |  |  |
| Microsoft Corp. | 134853 |  | 69828232 |
| **Specialty Retail 7.36%** |  |  |  |
| AutoZone, Inc.\* | 10180 |  | 37405697 |
| Dick's Sporting Goods, Inc. | 176540 |  | 39094783 |
| Lowe's Cos., Inc. | 167122 |  | 39796762 |
| Ross Stores, Inc. | 231230 |  | 36747072 |
| *Total* |  |  | 153044314 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** |
| **Technology Hardware, Storage & Peripherals 1.77%** | **Technology Hardware, Storage & Peripherals 1.77%** | **Technology Hardware, Storage & Peripherals 1.77%** |
| NetApp, Inc. | 312041 | $36752189 |
| **Tobacco 1.35%** |  |  |
| Philip Morris International, Inc. | 194420 | 28060639 |
| **Trading Companies & Distributors 1.80%** | **Trading Companies & Distributors 1.80%** | **Trading Companies & Distributors 1.80%** |
| AerCap Holdings NV (Ireland)<sup>(b)</sup> | 287537 | 37448819 |
| *Total Common Stocks*<br> (cost $1,317,319,198) |  | 2068099961 |
|  | **Principal<br> Amount** |  |
| **SHORT-TERM INVESTMENTS 0.56%** | **SHORT-TERM INVESTMENTS 0.56%** |  |
| **Repurchase Agreements 0.56%** | **Repurchase Agreements 0.56%** |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $12,246,600 of U.S. Treasury Note at 1.250% due 12/31/2026; value: $11,955,807; proceeds: $11,724,632<br> (cost $11,721,213) | $11721213 | 11721213 |
| *Total Investments in Securities 100.03%*<br> (cost $1,329,040,411) | *Total Investments in Securities 100.03%*<br> (cost $1,329,040,411) | 2079821174 |
| *Other Assets and Liabilities – Net (0.03)%* | *Other Assets and Liabilities – Net (0.03)%* | (707511) |
| *Net Assets 100.00%* |  | $2079113663 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| REITS | Real Estate Investment Trusts. |
| <sup>\*</sup> | Non-income producing security. |
| <sup>(a)</sup> | Investment in non-U.S. dollar denominated securities. |
| <sup>(b)</sup> | Foreign security traded in U.S. dollars. |

---

<br> 10 *See Notes to Financial Statements.*

**Schedule of Investments (concluded)**

FUNDAMENTAL EQUITY FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type<sup>(2)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beverages | $– | $37228267 | $– | $37228267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Remaining Industries | 2030871694 |  |  | 2030871694 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 11721213 | – | 11721213 |
| Total | $2030871694 | $48949480 | $– | $2079821174 |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |

---

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

*See Notes to Financial Statements.* 11

**Schedule of Investments**

GLOBAL EQUITY FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **LONG-TERM INVESTMENTS 98.13%** | | |
| **COMMON STOCKS 98.13%** | | |
| **Australia 0.77%** | | |
| *Diversified REITS 0.60%* |  |  |
| Charter Hall Group | 138470 | $2033668 |
| *Health Care Technology 0.17%* |  |  |
| Pro Medicus Ltd. | 3247 | 557526 |
| *Total Australia* |  | 2591194 |
| **Austria 1.50%** |  |  |
| *Banks* |  |  |
| BAWAG Group AG<sup>†</sup> | 38843 | 5019729 |
| **Brazil 1.41%** |  |  |
| *Broadline Retail* |  |  |
| MercadoLibre, Inc.\* | 2032 | 4728992 |
| **Canada 2.17%** |  |  |
| *Consumer Staples Distribution & Retail 0.89%* | *Consumer Staples Distribution & Retail 0.89%* |  |
| Alimentation Couche-Tard, Inc. | 58785 | 2987555 |
| *Information Technology Services 1.28%* | *Information Technology Services 1.28%* |  |
| Shopify, Inc. Class A\* | 24797 | 4311430 |
| *Total Canada* |  | 7298985 |
| **China 5.41%** |  |  |
| *Beverages 0.53%* |  |  |
| Kweichow Moutai Co. Ltd. Class A | 8781 | 1766286 |
| *Interactive Media & Services 1.46%* |  |  |
| Tencent Holdings Ltd. | 60433 | 4908833 |
| *Marine Transportation 1.84%* |  |  |
| SITC International Holdings Co. Ltd. | 1677113 | 6177037 |
| *Textiles, Apparel & Luxury Goods 1.58%* | *Textiles, Apparel & Luxury Goods 1.58%* |  |
| ANTA Sports Products Ltd. | 508800 | 5310920 |
| *Total China* |  | 18163076 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **France 5.94%** | | |
| *Aerospace & Defense 1.12%* |  |  |
| Safran SA | 10614 | $3771349 |
| *Beverages 0.26%* |  |  |
| Pernod Ricard SA | 8875 | 869222 |
| *Building Products 0.38%* |  |  |
| Cie de Saint-Gobain SA | 13104 | 1271900 |
| *Construction & Engineering 1.82%* |  |  |
| Eiffage SA | 49664 | 6111143 |
| *Oil, Gas & Consumable Fuels 1.18%* |  |  |
| Gaztransport Et Technigaz SA | 20028 | 3966143 |
| *Textiles, Apparel & Luxury Goods 1.18%* |  |  |
| Kering SA | 4863 | 1726933 |
| LVMH Moet Hennessy Louis Vuitton SE | 3187 | 2252644 |
|  |  | 3979577 |
| *Total France* |  | 19969334 |
| **India 0.08%** |  |  |
| *Commercial Services & Supplies* |  |  |
| CMS Info Systems Ltd. | 65701 | 274650 |
| **Ireland 0.74%** |  |  |
| *Trading Companies & Distributors* |  |  |
| AerCap Holdings NV | 19121 | 2490319 |
| **Italy 1.69%** |  |  |
| *Passenger Airlines* |  |  |
| Ryanair Holdings PLC | 187774 | 5684973 |
| **Japan 3.98%** |  |  |
| *Building Products 0.25%* |  |  |
| Sanwa Holdings Corp. | 31159 | 849759 |
| *Electrical Equipment 1.58%* |  |  |
| Fuji Electric Co. Ltd. | 74122 | 5293894 |

---

<br> 12 *See Notes to Financial Statements.*

**Schedule of Investments (continued)**

GLOBAL EQUITY FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Japan (continued)** | | |
| *Entertainment 0.49%* |  |  |
| Nintendo Co. Ltd. | 19361 | $1651298 |
| *Health Care Equipment & Supplies 0.50%* | *Health Care Equipment & Supplies 0.50%* |  |
| Hoya Corp. | 10400 | 1689293 |
| *Information Technology Services 0.21%* | *Information Technology Services 0.21%* |  |
| Obic Co. Ltd. | 22400 | 694872 |
| *Specialty Retail 0.95%* |  |  |
| USS Co. Ltd. | 288900 | 3188842 |
| *Total Japan* |  | 13367958 |
| **Mexico 1.51%** |  |  |
| *Banks* |  |  |
| Grupo Financiero Banorte SAB de CV Class O | 539165 | 5074306 |
| **Peru 1.56%** |  |  |
| *Banks* |  |  |
| Intercorp Financial Services, Inc. | 122057 | 5252113 |
| **Singapore 3.12%** |  |  |
| *Banks 1.60%* |  |  |
| DBS Group Holdings Ltd. | 129800 | 5374045 |
| *Broadline Retail 1.52%* |  |  |
| Sea Ltd. ADR\* | 32581 | 5090781 |
| *Total Singapore* |  | 10464826 |
| **Spain 1.20%** |  |  |
| *Electric: Utilities* |  |  |
| Iberdrola SA | 198271 | 4018208 |
| **Sweden 0.32%** |  |  |
| *Machinery* |  |  |
| Volvo AB Class B | 39710 | 1087857 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Switzerland 1.41%** | | | |
| *Building Products 0.40%* |  |  |  |
| Belimo Holding AG Registered Shares | 1238 | $| 1335732 |
| *Capital Markets 0.88%* |  |  |  |
| Partners Group Holding AG | 2414 |  | 2956225 |
| *Health Care Equipment & Supplies 0.13%* | *Health Care Equipment & Supplies 0.13%* |  |  |
| Straumann Holding AG Registered Shares | 3632 |  | 456549 |
| *Total Switzerland* |  |  | 4748506 |
| **Taiwan 7.54%** |  |  |  |
| *Communications Equipment 2.01%* |  |  |  |
| Accton Technology Corp. | 194000 |  | 6746679 |
| *Semiconductors & Semiconductor Equipment 3.14%* | *Semiconductors & Semiconductor Equipment 3.14%* | *Semiconductors & Semiconductor Equipment 3.14%* | *Semiconductors & Semiconductor Equipment 3.14%* |
| Realtek Semiconductor Corp. | 128537 |  | 2146395 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 174036 |  | 8416323 |
|  |  |  | 10562718 |
| *Technology Hardware, Storage & Peripherals 2.39%* | *Technology Hardware, Storage & Peripherals 2.39%* | *Technology Hardware, Storage & Peripherals 2.39%* | *Technology Hardware, Storage & Peripherals 2.39%* |
| Asia Vital Components Co. Ltd. | 175000 |  | 8011613 |
| *Total Taiwan* |  |  | 25321010 |
| **United Arab Emirates 1.04%** |  |  |  |
| *Banks* |  |  |  |
| Abu Dhabi Islamic Bank PJSC | 607287 |  | 3489548 |
| **United Kingdom 3.92%** |  |  |  |
| *Household Durables 1.21%* |  |  |  |
| Persimmon PLC | 256854 |  | 4082209 |
| *Personal Care Products 0.61%* |  |  |  |
| Unilever PLC | 33923 |  | 2035527 |
| *Tobacco 1.20%* |  |  |  |
| Imperial Brands PLC | 101720 |  | 4041772 |

---

<br> *See Notes to Financial Statements.* 13

**Schedule of Investments (continued)**

GLOBAL EQUITY FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **United Kingdom (continued)** | | | |
| *Trading Companies & Distributors 0.90%* | *Trading Companies & Distributors 0.90%* |  |  |
| Ashtead Group PLC | 45285 | $| 3024801 |
| *Total United Kingdom* |  |  | 13184309 |
| **United States 52.82%** |  |  |  |
| *Aerospace & Defense 0.81%* |  |  |  |
| L3Harris Technologies, Inc. | 7057 |  | 2040179 |
| TransDigm Group, Inc. | 533 |  | 697436 |
|  |  |  | 2737615 |
| *Banks 2.75%* |  |  |  |
| East West Bancorp, Inc. | 48721 |  | 4950053 |
| JPMorgan Chase & Co. | 13832 |  | 4303412 |
|  |  |  | 9253465 |
| *Biotechnology 1.41%* |  |  |  |
| AbbVie, Inc. | 21705 |  | 4732558 |
| *Broadline Retail 4.06%* |  |  |  |
| Amazon.com, Inc.\* | 55797 |  | 13626743 |
| *Building Products 0.10%* |  |  |  |
| Builders FirstSource, Inc.\* | 2842 |  | 330155 |
| *Capital Markets 2.72%* |  |  |  |
| Ameriprise Financial, Inc. | 2898 |  | 1312128 |
| Charles Schwab Corp. | 49189 |  | 4649344 |
| Moody's Corp. | 2314 |  | 1111414 |
| SEI Investments Co. | 25630 |  | 2066034 |
|  |  |  | 9138920 |
| *Construction Materials 0.48%* |  |  |  |
| CRH PLC | 13420 |  | 1598322 |
| *Distributors 0.23%* |  |  |  |
| Pool Corp. | 2883 |  | 769934 |
| *Electrical Equipment 1.58%* |  |  |  |
| NEXTracker, Inc. Class A\* | 52469 |  | 5310912 |
| *Electronic Equipment, Instruments & Components 0.85%* | *Electronic Equipment, Instruments & Components 0.85%* | *Electronic Equipment, Instruments & Components 0.85%* | *Electronic Equipment, Instruments & Components 0.85%* |
| Amphenol Corp. Class A | 20609 |  | 2871658 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **United States (continued)** | | |
| *Entertainment 0.67%* |  |  |
| Netflix, Inc.\* | 2009 | $2247790 |
| *Financial Services 0.89%* |  |  |
| Fiserv, Inc.\* | 5371 | 358192 |
| Visa, Inc. Class A | 7762 | 2644824 |
|  |  | 3003016 |
| *Ground Transportation 1.83%* |  |  |
| Uber Technologies, Inc.\* | 63748 | 6151682 |
| *Health Care Equipment & Supplies 1.54%* | *Health Care Equipment & Supplies 1.54%* |  |
| Dexcom, Inc.\* | 35093 | 2043114 |
| IDEXX Laboratories, Inc.\* | 4953 | 3117963 |
|  |  | 5161077 |
| *Health Care Providers & Services 0.94%* | *Health Care Providers & Services 0.94%* |  |
| McKesson Corp. | 3893 | 3158547 |
| *Health Care Technology 0.46%* |  |  |
| Veeva Systems, Inc. Class A\* | 5361 | 1561123 |
| *Hotels, Restaurants & Leisure 0.52%* |  |  |
| Domino's Pizza, Inc. | 4356 | 1735692 |
| *Information Technology Services 0.22%* | *Information Technology Services 0.22%* |  |
| Accenture PLC Class A | 2899 | 725040 |
| *Insurance 0.61%* |  |  |
| Aon PLC Class A | 5092 | 1734743 |
| Progressive Corp. | 1548 | 318888 |
|  |  | 2053631 |
| *Interactive Media & Services 6.32%* |  |  |
| Alphabet, Inc. Class A | 55426 | 15585237 |
| Meta Platforms, Inc. Class A | 8719 | 5652964 |
|  |  | 21238201 |
| *Life Sciences Tools & Services 1.22%* |  |  |
| Thermo Fisher Scientific, Inc. | 7234 | 4104499 |
| *Oil, Gas & Consumable Fuels 0.86%* |  |  |
| Cheniere Energy, Inc. | 13712 | 2906944 |

---

<br> 14 *See Notes to Financial Statements.*

**Schedule of Investments (continued)**

GLOBAL EQUITY FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **United States (continued)** | | | |
| *Pharmaceuticals 1.52%* |  |  |  |
| Johnson & Johnson | 27117 | $| 5121588 |
| *Professional Services 0.26%* |  |  |  |
| Booz Allen Hamilton Holding Corp. | 9854 |  | 858875 |
| *Semiconductors & Semiconductor Equipment 9.08%* | *Semiconductors & Semiconductor Equipment 9.08%* | *Semiconductors & Semiconductor Equipment 9.08%* | *Semiconductors & Semiconductor Equipment 9.08%* |
| Broadcom, Inc. | 22285 |  | 8237204 |
| KLA Corp. | 2382 |  | 2879219 |
| NVIDIA Corp. | 95816 |  | 19401782 |
|  |  |  | 30518205 |
| *Software 7.85%* |  |  |  |
| Adobe, Inc.\* | 9900 |  | 3369069 |
| Datadog, Inc. Class A\* | 28839 |  | 4695278 |
| Intuit, Inc. | 3017 |  | 2013998 |
| Microsoft Corp. | 26778 |  | 13865916 |
| Salesforce, Inc. | 9313 |  | 2425198 |
|  |  |  | 26369459 |
| *Specialty Retail 3.04%* |  |  |  |
| Carvana Co.\* | 9169 |  | 2810665 |
| Lowe's Cos., Inc. | 7378 |  | 1756923 |
| Ulta Beauty, Inc.\* | 10838 |  | 5634460 |
|  |  |  | 10202048 |
| *Total United States* |  |  | 177487699 |
| *Total Common Stocks*<br> (cost $281,857,382) |  |  | 329717592 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal <br> Amount** | **U.S. $ Fair Value** |
| **SHORT-TERM INVESTMENTS 1.97%** | **SHORT-TERM INVESTMENTS 1.97%** | |
| **Repurchase Agreements 1.97%** | **Repurchase Agreements 1.97%** | |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $6,940,900 of U.S. Treasury Note at 1.250% due 12/31/2026; value: $6,776,097; proceeds: $6,645,062<br> (cost $6,643,124) | $6643124 | $6643124 |
| *Total Investments in Securities 100.10%*<br> (cost $288,500,506) | *Total Investments in Securities 100.10%*<br> (cost $288,500,506) | 336360716 |
| *Other Assets and Liabilities – Net (0.10)%* | *Other Assets and Liabilities – Net (0.10)%* | (351484) |
| *Net Assets 100.00%* |  | $336009232 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| REITS | Real Estate Investment Trusts. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At October 31, 2025, the total value of Rule 144A securities was $5,019,729, which represents 1.49% of net assets. |
| \* | Non-income producing security. |

---

<br> *See Notes to Financial Statements.* 15

**Schedule of Investments (concluded)**

GLOBAL EQUITY FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type<sup>(2)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $– | $2591194 | $– | $2591194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 5019729 |  | 5019729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | 4728992 |  |  | 4728992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 7298985 |  |  | 7298985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | 6177037 | 11986039 |  | 18163076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France |  | 19969334 |  | 19969334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India |  | 274650 |  | 274650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | 2490319 |  |  | 2490319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy |  | 5684973 |  | 5684973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan |  | 13367958 |  | 13367958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | 5074306 |  |  | 5074306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | 5252113 |  |  | 5252113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | 5090781 | 5374045 |  | 10464826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 4018208 |  | 4018208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden |  | 1087857 |  | 1087857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland |  | 4748506 |  | 4748506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan |  | 25321010 |  | 25321010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates |  | 3489548 |  | 3489548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom |  | 13184309 |  | 13184309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 177487699 |  |  | 177487699 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 6643124 | – | 6643124 |
| Total | $213600232 | $122760484 | $– | $336360716 |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |

---

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

16 *See Notes to Financial Statements.*

**Schedule of Investments**

GROWTH LEADERS FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **LONG-TERM INVESTMENTS 98.29%** | **LONG-TERM INVESTMENTS 98.29%** |  |
| **COMMON STOCKS 98.29%** |  |  |
| **Aerospace & Defense 5.40%** |  |  |
| Axon Enterprise, Inc.\* | 215477 | $157778724 |
| General Electric Co. | 516462 | 159560935 |
| Howmet Aerospace, Inc. | 327491 | 67446771 |
| TransDigm Group, Inc. | 49812 | 65179500 |
| *Total* |  | 449965930 |
| **Automobiles 1.05%** |  |  |
| Tesla, Inc.\* | 191809 | 87572317 |
| **Biotechnology 5.56%** |  |  |
| Argenx SE ADR\* | 144856 | 118564636 |
| Insmed, Inc.\* | 972013 | 184293665 |
| Natera, Inc.\* | 808718 | 160878272 |
| *Total* |  | 463736573 |
| **Broadline Retail 8.66%** |  |  |
| Amazon.com, Inc.\* | 1922125 | 469421367 |
| MercadoLibre, Inc. (Uruguay)\*<sup>(a)</sup> | 62926 | 146445163 |
| Sea Ltd. ADR\* | 679401 | 106156406 |
| *Total* |  | 722022936 |
| **Capital Markets 3.24%** |  |  |
| Evercore, Inc. Class A | 247637 | 72943955 |
| Robinhood Markets, Inc. Class A\* | 1342827 | 197100147 |
| *Total* |  | 270044102 |
| **Communications Equipment 3.49%** | **Communications Equipment 3.49%** |  |
| Arista Networks, Inc.\* | 1843703 | 290733526 |
| **Construction & Engineering 3.35%** | **Construction & Engineering 3.35%** |  |
| Comfort Systems USA, Inc. | 136686 | 131981268 |
| EMCOR Group, Inc. | 218426 | 147607922 |
| *Total* |  | 279589190 |
| **Electrical Equipment 0.85%** |  |  |
| Vertiv Holdings Co. Class A | 367332 | 70843650 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** |
| **Electronic Equipment, Instruments & Components 1.35%** | **Electronic Equipment, Instruments & Components 1.35%** | **Electronic Equipment, Instruments & Components 1.35%** |
| Amphenol Corp. Class A | 807766 | $112554114 |
| **Entertainment 5.52%** |  |  |
| Live Nation Entertainment, Inc.\* | 350187 | 52363462 |
| Netflix, Inc.\* | 159316 | 178252300 |
| ROBLOX Corp. Class A\* | 456365 | 51897828 |
| Spotify Technology SA (Sweden)\*<sup>(a)</sup> | 204942 | 134302591 |
| Take-Two Interactive Software, Inc.\* | 168196 | 43120409 |
| *Total* |  | 459936590 |
| **Financial Services 2.17%** |  |  |
| Affirm Holdings, Inc.\* | 1084705 | 77968595 |
| Toast, Inc. Class A\* | 1682988 | 60823186 |
| Visa, Inc. Class A | 122498 | 41739969 |
| *Total* |  | 180531750 |
| **Ground Transportation 1.36%** |  |  |
| Uber Technologies, Inc.\* | 1177964 | 113673526 |
| **Health Care Equipment & Supplies 0.96%** | **Health Care Equipment & Supplies 0.96%** |  |
| Intuitive Surgical, Inc.\* | 149986 | 80134520 |
| **Hotels, Restaurants & Leisure 2.87%** | **Hotels, Restaurants & Leisure 2.87%** |  |
| Booking Holdings, Inc. | 13595 | 69031876 |
| DoorDash, Inc. Class A\* | 667406 | 169768064 |
| *Total* |  | 238799940 |
| **Information Technology Services 6.41%** | **Information Technology Services 6.41%** |  |
| Cloudflare, Inc. Class A\* | 749744 | 189910155 |
| Shopify, Inc. Class A (Canada)\*<sup>(a)</sup> | 1302253 | 226409707 |
| Snowflake, Inc.\* | 428484 | 117781682 |
| *Total* |  | 534101544 |
| **Interactive Media & Services 8.72%** | **Interactive Media & Services 8.72%** |  |
| Alphabet, Inc. Class A | 1273731 | 358160420 |
| Meta Platforms, Inc. Class A | 402181 | 260754051 |
| Reddit, Inc. Class A\* | 517945 | 108224608 |
| *Total* |  | 727139079 |

---

<br> *See Notes to Financial Statements.* 17

**Schedule of Investments (continued)**

GROWTH LEADERS FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Semiconductors & Semiconductor Equipment 18.04%** | **Semiconductors & Semiconductor Equipment 18.04%** | **Semiconductors & Semiconductor Equipment 18.04%** |
| Advanced Micro Devices, Inc.\* | 437544 | $112063769 |
| Astera Labs, Inc.\* | 581941 | 108636746 |
| Broadcom, Inc. | 802424 | 296599983 |
| NVIDIA Corp. | 4872053 | 986542012 |
| *Total* |  | 1503842510 |
| **Software 14.66%** |  |  |
| AppLovin Corp. Class A\* | 230919 | 147171606 |
| Cadence Design Systems, Inc.\* | 221954 | 75173600 |
| Crowdstrike Holdings, Inc. Class A\* | 286968 | 155826494 |
| Guidewire Software, Inc.\* | 447335 | 104515350 |
| Microsoft Corp. | 737619 | 381946494 |
| Oracle Corp. | 623324 | 163691116 |
| Palantir Technologies, Inc. Class A\* | 965526 | 193558997 |
| *Total* |  | 1221883657 |
| **Specialty Retail 1.82%** |  |  |
| Carvana Co.\* | 493419 | 151252660 |
| **Technology Hardware, Storage & Peripherals 2.81%** | **Technology Hardware, Storage & Peripherals 2.81%** | **Technology Hardware, Storage & Peripherals 2.81%** |
| Apple, Inc. | 866379 | 234242890 |
| *Total Common Stocks*<br> (cost $4,418,149,589) |  | 8192601004 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Principal<br> Amount** | **Principal<br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 1.94%** |  |  |  |
| **Repurchase Agreements 1.94%** |  |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $124,071,100 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $164,753,640; proceeds: $161,570,185<br> (cost $161,523,074) | $| 161523074 | $161523074 |
| *Total Investments in Securities 100.23%*<br> (cost $4,579,672,663) | *Total Investments in Securities 100.23%*<br> (cost $4,579,672,663) | *Total Investments in Securities 100.23%*<br> (cost $4,579,672,663) | 8354124078 |
| *Other Assets and Liabilities – Net (0.23)%* | *Other Assets and Liabilities – Net (0.23)%* | *Other Assets and Liabilities – Net (0.23)%* | (19139683) |
| *Net Assets 100.00%* |  |  | $8334984395 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Foreign security traded in U.S. dollars. |

---

<br> 18 *See Notes to Financial Statements.*

**Schedule of Investments (concluded)**

GROWTH LEADERS FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type<sup>(2)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $8192601004 | $– | $– | $8192601004 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 161523074 | – | 161523074 |
| Total | $8192601004 | $161523074 | $– | $8354124078 |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |

---

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

*See Notes to Financial Statements.* 19

**Schedule of Investments**

HEALTH CARE FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **LONG-TERM INVESTMENTS 97.69%** |  |  |
| **COMMON STOCKS 97.69%** |  |  |
| **Australia 0.59%** |  |  |
| *Health Care Technology* |  |  |
| Pro Medicus Ltd. | 291 | $49966 |
| **Belgium 1.96%** |  |  |
| *Pharmaceuticals* |  |  |
| UCB SA | 644 | 165599 |
| **Denmark 1.48%** |  |  |
| *Biotechnology* |  |  |
| Ascendis Pharma AS ADR\* | 621 | 125194 |
| **France 5.28%** |  |  |
| *Biotechnology 1.78%* |  |  |
| Abivax SA ADR\* | 1474 | 150967 |
| *Health Care Equipment & Supplies 3.50%* |  |  |
| BioMerieux | 543 | 69911 |
| EssilorLuxottica SA | 616 | 225591 |
|  |  | 295502 |
| *Total France* |  | 446469 |
| **Israel 0.72%** |  |  |
| *Pharmaceuticals* |  |  |
| Teva Pharmaceutical Industries Ltd. ADR\* | 2957 | 60559 |
| **Netherlands 6.67%** |  |  |
| *Biotechnology* |  |  |
| Argenx SE\* | 406 | 332262 |
| Newamsterdam Pharma Co. NV\* | 1243 | 47172 |
| uniQure NV\* | 2722 | 184252 |
|  |  | 563686 |
| **Spain 0.44%** |  |  |
| *Biotechnology* |  |  |
| Pharma Mar SA\* | 443 | 37454 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Switzerland 3.26%** |  |  |
| *Life Sciences Tools & Services 1.73%* |  |  |
| Lonza Group AG Registered Shares | 212 | $146393 |
| *Pharmaceuticals 1.53%* |  |  |
| Galderma Group AG | 695 | 129070 |
| *Total Switzerland* |  | 275463 |
| **United Kingdom 3.36%** |  |  |
| *Pharmaceuticals* |  |  |
| AstraZeneca PLC | 1724 | 284371 |
| **United States 73.93%** |  |  |
| *Biotechnology 29.92%* |  |  |
| AbbVie, Inc. | 667 | 145433 |
| Alnylam Pharmaceuticals, Inc.\* | 323 | 147301 |
| Arcellx, Inc.\* | 1630 | 147107 |
| BeOne Medicines Ltd. Class H\* | 2274 | 54672 |
| Bridgebio Pharma, Inc.\* | 2278 | 142694 |
| Celcuity, Inc.\* | 1169 | 90200 |
| CG oncology, Inc.\* | 976 | 42232 |
| Cidara Therapeutics, Inc.\* | 1669 | 182322 |
| Dyne Therapeutics, Inc.\* | 1795 | 40531 |
| Gilead Sciences, Inc. | 2551 | 305584 |
| Insmed, Inc.\* | 795 | 150732 |
| Madrigal Pharmaceuticals, Inc.\* | 315 | 131954 |
| Mineralys Therapeutics, Inc.\* | 1435 | 58634 |
| Mirum Pharmaceuticals, Inc.\* | 1651 | 119945 |
| Natera, Inc.\* | 1151 | 228968 |
| Neurocrine Biosciences, Inc.\* | 428 | 61294 |
| Nuvalent, Inc. Class A\* | 520 | 51646 |
| ORIC Pharmaceuticals, Inc.\* | 3130 | 41191 |
| PTC Therapeutics, Inc.\* | 1091 | 74526 |
| Revolution Medicines, Inc.\* | 862 | 50720 |
| Rhythm Pharmaceuticals, Inc.\* | 942 | 107162 |
| Soleno Therapeutics, Inc.\* | 740 | 49698 |
| United Therapeutics Corp.\* | 234 | 104231 |
|  |  | 2528777 |

---

20 See Notes to Financial Statements.

**Schedule of Investments (continued)**

HEALTH CARE FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **United States (continued)** |  |  |
| *Health Care Equipment & Supplies 13.20%* |  |  |
| Abbott Laboratories | 816 | $100874 |
| Boston Scientific Corp.\* | 1687 | 169915 |
| Edwards Lifesciences Corp.\* | 758 | 62497 |
| IDEXX Laboratories, Inc.\* | 166 | 104499 |
| Insulet Corp.\* | 453 | 141793 |
| Intuitive Surgical, Inc.\* | 378 | 201958 |
| iRhythm Technologies, Inc.\* | 497 | 93088 |
| Penumbra, Inc.\* | 326 | 74122 |
| Stryker Corp. | 350 | 124684 |
| TransMedics Group, Inc.\* | 320 | 42093 |
|  |  | 1115523 |
| *Health Care Providers & Services 11.95%* |  |  |
| Cencora, Inc. | 681 | 230049 |
| CVS Health Corp. | 2320 | 181308 |
| Encompass Health Corp. | 968 | 110207 |
| GeneDx Holdings Corp.\* | 948 | 129791 |
| Guardant Health, Inc.\* | 2459 | 228736 |
| Hinge Health, Inc. Class A\* | 1788 | 88971 |
| RadNet, Inc.\* | 542 | 41186 |
|  |  | 1010248 |
| *Health Care Technology 3.45%* |  |  |
| Doximity, Inc. Class A\* | 1328 | 87648 |
| HeartFlow, Inc.\* | 2360 | 87698 |
| Veeva Systems, Inc. Class A\* | 400 | 116480 |
|  |  | 291826 |
| *Life Sciences Tools & Services 2.44%* |  |  |
| Adaptive Biotechnologies Corp.\* | 4406 | 76488 |
| Thermo Fisher Scientific, Inc. | 228 | 129365 |
|  |  | 205853 |
| *Pharmaceuticals 12.97%* |  |  |
| Eli Lilly & Co. | 663 | 572076 |
| Johnson & Johnson | 635 | 119932 |
| Nektar Therapeutics\* | 673 | 43698 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **United States (continued)** |  |  |
| Novartis AG Registered Shares | 604 | $74752 |
| Tarsus Pharmaceuticals, Inc.\* | 4154 | 285837 |
|  |  | 1096295 |
| *Total United States* |  | 6248522 |
| *Total Common Stocks*<br> (cost $5,551,417) |  | 8257283 |
|  | **Principal<br> Amount** |  |
| **SHORT-TERM INVESTMENTS 2.02%** |  |  |
| **Repurchase Agreements 2.02%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $178,200 of U.S. Treasury Note at 1.250% due 12/31/2026; value: $174,057; proceeds: $170,518 <br> (cost $170,468) | $170468 | 170468 |
| *Total Investments in Securities 99.71%*<br> (cost $5,721,885) |  | 8427751 |
| *Other Assets and Liabilities – Net 0.29%* |  | 24194 |
| *Net Assets 100.00%* |  | $8451945 |

---

<br> ADR American Depositary Receipt. <br> \* Non-income producing security.

See Notes to Financial Statements. 21

**Schedule of Investments (concluded)**

HEALTH CARE FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $– | $49966 | $– | $49966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium |  | 165599 |  | 165599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | 125194 |  |  | 125194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | 150967 | 295502 |  | 446469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | 60559 |  |  | 60559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | 231424 | 332262 |  | 563686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 37454 |  | 37454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland |  | 275463 |  | 275463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom |  | 284371 |  | 284371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 6119098 | 129424 |  | 6248522 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 170468 | – | 170468 |
| Total | $6687242 | $1740509 | $– | $8427751 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

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

22 See Notes to Financial Statements.

**Schedule of Investments**

INTERNATIONAL EQUITY FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **LONG-TERM INVESTMENTS 98.17%** |  |  |  |
| **COMMON STOCKS 98.17%** |  |  |  |
| **Australia 1.19%** |  |  |  |
| *Diversified REITS 0.65%* |  |  |  |
| Charter Hall Group | 220686 | $| 3241150 |
| *Insurance 0.54%* |  |  |  |
| QBE Insurance Group Ltd. | 209661 |  | 2720262 |
| *Total Australia* |  |  | 5961412 |
| **Austria 2.22%** |  |  |  |
| *Banks* |  |  |  |
| BAWAG Group AG<sup>†</sup> | 34199 |  | 4419580 |
| Erste Group Bank AG | 64725 |  | 6704789 |
|  |  |  | 11124369 |
| **Belgium 0.33%** |  |  |  |
| *Pharmaceuticals* |  |  |  |
| UCB SA | 6450 |  | 1658566 |
| **Brazil 1.22%** |  |  |  |
| *Broadline Retail 0.71%* |  |  |  |
| MercadoLibre, Inc.\* | 1527 |  | 3553726 |
| *Capital Markets 0.51%* |  |  |  |
| B3 SA - Brasil Bolsa Balcao | 1086500 |  | 2556732 |
| *Total Brazil* |  |  | 6110458 |
| **Canada 3.07%** |  |  |  |
| *Banks 1.15%* |  |  |  |
| Toronto-Dominion Bank | 69871 |  | 5736940 |
| *Broadline Retail 0.54%* |  |  |  |
| Dollarama, Inc. | 20980 |  | 2727078 |
| *Electronic Equipment, Instruments & Components 0.72%* | *Electronic Equipment, Instruments & Components 0.72%* | *Electronic Equipment, Instruments & Components 0.72%* | *Electronic Equipment, Instruments & Components 0.72%* |
| Celestica, Inc.\* | 10513 |  | 3621518 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Canada (continued)** |  |  |
| *Oil, Gas & Consumable Fuels 0.66%* |  |  |
| Imperial Oil Ltd. | 37240 | $3293731 |
| *Total Canada* |  | 15379267 |
| **China 5.54%** |  |  |
| *Broadline Retail 2.30%* |  |  |
| Alibaba Group Holding Ltd. | 542500 | 11543715 |
| *Interactive Media & Services 2.36%* |  |  |
| Tencent Holdings Ltd. | 145347 | 11806202 |
| *Pharmaceuticals 0.54%* |  |  |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class H\*<sup>(a)</sup> | 278200 | 2696248 |
| *Technology Hardware, Storage & Peripherals 0.34%* | *Technology Hardware, Storage & Peripherals 0.34%* |  |
| Xiaomi Corp. Class B<sup>†</sup>\* | 310400 | 1722071 |
| *Total China* |  | 27768236 |
| **France 10.17%** |  |  |
| *Aerospace & Defense 0.80%* |  |  |
| Safran SA | 11248 | 3996620 |
| *Banks 0.94%* |  |  |
| Societe Generale SA | 74404 | 4718747 |
| *Beverages 0.59%* |  |  |
| Pernod Ricard SA | 30184 | 2956236 |
| *Building Products 1.27%* |  |  |
| Cie de Saint-Gobain SA | 65750 | 6381827 |
| *Chemicals 0.81%* |  |  |
| Air Liquide SA | 20817 | 4028899 |
| *Electrical Equipment 0.67%* |  |  |
| Legrand SA | 19543 | 3374836 |
| *Health Care Equipment & Supplies 1.63%* | *Health Care Equipment & Supplies 1.63%* |  |
| BioMerieux | 16009 | 2061168 |
| EssilorLuxottica SA | 16607 | 6081793 |
|  |  | 8142961 |

---

See Notes to Financial Statements. 23

**Schedule of Investments (continued)**

INTERNATIONAL EQUITY FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **France (continued)** |  |  |
| *Insurance 0.65%* |  |  |
| AXA SA | 75319 | $3267971 |
| *Oil, Gas & Consumable Fuels 0.76%* |  |  |
| TotalEnergies SE | 61208 | 3821523 |
| *Personal Care Products 0.76%* |  |  |
| L'Oreal SA | 9100 | 3797533 |
| *Textiles, Apparel & Luxury Goods 1.29%* |  |  |
| Kering SA | 5000 | 1775584 |
| LVMH Moet Hennessy Louis Vuitton SE | 6600 | 4665029 |
|  |  | 6440613 |
| *Total France* |  | 50927766 |
| **Germany 8.12%** |  |  |
| *Aerospace & Defense 1.22%* |  |  |
| Rheinmetall AG | 3118 | 6129315 |
| *Construction Materials 1.37%* |  |  |
| Heidelberg Materials AG | 29212 | 6853238 |
| *Electrical Equipment 1.71%* |  |  |
| Siemens Energy AG\* | 68705 | 8559633 |
| *Health Care Providers & Services 0.50%* |  |  |
| Fresenius SE & Co. KGaA | 43511 | 2503751 |
| *Industrial Conglomerates 1.05%* |  |  |
| Siemens AG | 18556 | 5258719 |
| *Insurance 1.25%* |  |  |
| Allianz SE Registered Shares | 15597 | 6267523 |
| *Software 1.02%* |  |  |
| SAP SE | 19682 | 5118744 |
| *Total Germany* |  | 40690923 |
| **Greece 0.92%** |  |  |
| *Banks* |  |  |
| Alpha Bank SA | 1170148 | 4587225 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Shares** | **U.S. $ Fair Value** |
| **Hong Kong 0.59%** |  |  |  |
| *Insurance* |  |  |  |
| Prudential PLC |  | 213786 | $2973353 |
| **Hungary 0.92%** |  |  |  |
| *Banks* |  |  |  |
| OTP Bank Nyrt |  | 48028 | 4584532 |
| **India 2.50%** |  |  |  |
| *Banks 0.62%* |  |  |  |
| ICICI Bank Ltd. ADR |  | 103426 | 3133808 |
| *Health Care Providers & Services 0.49%* |  |  |  |
| Max Healthcare Institute Ltd. |  | 189542 | 2450752 |
| *Oil, Gas & Consumable Fuels 0.44%* |  |  |  |
| Reliance Industries Ltd. |  | 130981 | 2191684 |
| *Wireless Telecommunication Services 0.95%* | *Wireless Telecommunication Services 0.95%* | *Wireless Telecommunication Services 0.95%* |  |
| Bharti Airtel Ltd. |  | 205114 | 4749657 |
| *Total India* |  |  | 12525901 |
| **Ireland 1.75%** |  |  |  |
| *Banks 1.07%* |  |  |  |
| AIB Group PLC |  | 578800 | 5334409 |
| *Trading Companies & Distributors 0.68%* | *Trading Companies & Distributors 0.68%* | *Trading Companies & Distributors 0.68%* |  |
| AerCap Holdings NV |  | 26229 | 3416065 |
| *Total Ireland* |  |  | 8750474 |
| **Italy 2.55%** |  |  |  |
| *Banks 1.30%* |  |  |  |
| UniCredit SpA |  | 87763 | 6498554 |
| *Passenger Airlines 0.53%* |  |  |  |
| Ryanair Holdings PLC |  | 88809 | 2688747 |
| *Textiles, Apparel & Luxury Goods 0.72%* | *Textiles, Apparel & Luxury Goods 0.72%* |  |  |
| Brunello Cucinelli SpA<sup>(a)</sup> |  | 35571 | 3605061 |
| *Total Italy* |  |  | 12792362 |

---

24 See Notes to Financial Statements.

**Schedule of Investments (continued)**

INTERNATIONAL EQUITY FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Japan 17.04%** |  |  |  |
| *Automobiles 1.01%* |  |  |  |
| Toyota Motor Corp. | 249300 | $| 5082510 |
| *Banks 1.41%* |  |  |  |
| Mizuho Financial Group, Inc. | 111800 |  | 3744793 |
| Sumitomo Mitsui Financial Group, Inc. | 123121 |  | 3333352 |
|  |  |  | 7078145 |
| *Electrical Equipment 2.33%* |  |  |  |
| Fuji Electric Co. Ltd. | 53200 |  | 3799616 |
| Fujikura Ltd. | 23000 |  | 3132003 |
| Mitsubishi Electric Corp. | 167500 |  | 4755758 |
|  |  |  | 11687377 |
| *Electronic Equipment, Instruments & Components 0.69%* | *Electronic Equipment, Instruments & Components 0.69%* | *Electronic Equipment, Instruments & Components 0.69%* | *Electronic Equipment, Instruments & Components 0.69%* |
| Murata Manufacturing Co. Ltd. | 160900 |  | 3469151 |
| *Entertainment 1.43%* |  |  |  |
| Nintendo Co. Ltd. | 84000 |  | 7164351 |
| *Health Care Equipment & Supplies 0.93%* | *Health Care Equipment & Supplies 0.93%* |  |  |
| Hoya Corp. | 28700 |  | 4661799 |
| *Household Durables 0.71%* |  |  |  |
| Sony Group Corp. | 127500 |  | 3550821 |
| *Industrial Conglomerates 1.73%* |  |  |  |
| Hitachi Ltd. | 253205 |  | 8649224 |
| *Information Technology Services 1.20%* | *Information Technology Services 1.20%* |  |  |
| NEC Corp. | 165300 |  | 6003702 |
| *Insurance 0.71%* |  |  |  |
| Sompo Holdings, Inc. | 117600 |  | 3583914 |
| *Machinery 1.83%* |  |  |  |
| Ebara Corp. | 95400 |  | 2544062 |
| Mitsubishi Heavy Industries Ltd. | 219000 |  | 6611538 |
|  |  |  | 9155600 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Japan (continued)** |  |  |
| *Semiconductors & Semiconductor Equipment 0.44%* | *Semiconductors & Semiconductor Equipment 0.44%* |  |
| Disco Corp. | 6600 | $2191747 |
| *Specialty Retail 0.44%* |  |  |
| USS Co. Ltd. | 197800 | 2183292 |
| *Textiles, Apparel & Luxury Goods 0.66%* | *Textiles, Apparel & Luxury Goods 0.66%* |  |
| Asics Corp. | 129600 | 3300156 |
| *Tobacco 1.02%* |  |  |
| Japan Tobacco, Inc. | 146400 | 5099534 |
| *Trading Companies & Distributors 0.50%* | *Trading Companies & Distributors 0.50%* |  |
| Marubeni Corp. | 101600 | 2496924 |
| *Total Japan* |  | 85358247 |
| **Mexico 0.75%** |  |  |
| *Banks* |  |  |
| Grupo Financiero Banorte SAB de CV Class O | 397900 | 3744803 |
| **Netherlands 4.13%** |  |  |
| *Biotechnology 0.77%* |  |  |
| Argenx SE ADR\* | 4740 | 3879690 |
| *Chemicals 0.33%* |  |  |
| Akzo Nobel NV | 24786 | 1637986 |
| *Insurance 1.41%* |  |  |
| NN Group NV | 102852 | 7038661 |
| *Semiconductors & Semiconductor Equipment 1.62%* | *Semiconductors & Semiconductor Equipment 1.62%* |  |
| ASML Holding NV | 7685 | 8125422 |
| *Total Netherlands* |  | 20681759 |
| **Peru 0.94%** |  |  |
| *Banks* |  |  |
| Credicorp Ltd. | 17996 | 4696956 |
| **Singapore 1.01%** |  |  |
| *Banks* |  |  |
| DBS Group Holdings Ltd. | 122100 | 5055246 |

---

See Notes to Financial Statements. 25

**Schedule of Investments (continued)**

INTERNATIONAL EQUITY FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **South Korea 4.26%** |  |  |  |
| *Aerospace & Defense 0.95%* |  |  |  |
| Hanwha Aerospace Co. Ltd. | 6938 | $| 4758945 |
| *Banks 0.69%* |  |  |  |
| KB Financial Group, Inc. | 42377 |  | 3459386 |
| *Technology Hardware, Storage & Peripherals 2.00%* | *Technology Hardware, Storage & Peripherals 2.00%* | *Technology Hardware, Storage & Peripherals 2.00%* | *Technology Hardware, Storage & Peripherals 2.00%* |
| Samsung Electronics Co. Ltd. | 133289 |  | 10033487 |
| *Tobacco 0.62%* |  |  |  |
| KT&G Corp. | 32974 |  | 3103243 |
| *Total South Korea* |  |  | 21355061 |
| **Spain 3.30%** |  |  |  |
| *Banks 1.38%* |  |  |  |
| Banco Bilbao Vizcaya Argentaria SA | 341891 |  | 6887761 |
| *Electric: Utilities 1.40%* |  |  |  |
| Iberdrola SA | 346930 |  | 7030967 |
| *Information Technology Services 0.52%* | *Information Technology Services 0.52%* |  |  |
| Indra Sistemas SA | 47232 |  | 2612752 |
| *Total Spain* |  |  | 16531480 |
| **Sweden 0.50%** |  |  |  |
| *Machinery* |  |  |  |
| Sandvik AB | 82000 |  | 2479637 |
| **Switzerland 3.07%** |  |  |  |
| *Building Products 0.51%* |  |  |  |
| Belimo Holding AG Registered Shares | 2339 |  | 2523650 |
| *Chemicals 0.47%* |  |  |  |
| Givaudan SA | 575 |  | 2355572 |
| *Electrical Equipment 1.20%* |  |  |  |
| ABB Ltd. Registered Shares | 80774 |  | 6005346 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Switzerland (continued)** |  |  |  |
| *Textiles, Apparel & Luxury Goods 0.89%* | *Textiles, Apparel & Luxury Goods 0.89%* |  |  |
| Cie Financiere Richemont SA Class A | 22576 | $| 4465659 |
| *Total Switzerland* |  |  | 15350227 |
| **Taiwan 6.63%** |  |  |  |
| *Communications Equipment 0.35%* |  |  |  |
| Accton Technology Corp. | 50000 |  | 1738835 |
| *Electronic Equipment, Instruments & Components 0.71%* | *Electronic Equipment, Instruments & Components 0.71%* | *Electronic Equipment, Instruments & Components 0.71%* | *Electronic Equipment, Instruments & Components 0.71%* |
| Delta Electronics, Inc. | 111000 |  | 3570189 |
| *Semiconductors & Semiconductor Equipment 4.91%* | *Semiconductors & Semiconductor Equipment 4.91%* | *Semiconductors & Semiconductor Equipment 4.91%* | *Semiconductors & Semiconductor Equipment 4.91%* |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 508714 |  | 24601239 |
| *Technology Hardware, Storage & Peripherals 0.66%* | *Technology Hardware, Storage & Peripherals 0.66%* |  |  |
| Asia Vital Components Co. Ltd. | 72000 |  | 3296207 |
| *Total Taiwan* |  |  | 33206470 |
| **United Kingdom 4.95%** |  |  |  |
| *Aerospace & Defense 0.51%* |  |  |  |
| Babcock International Group PLC | 160474 |  | 2562613 |
| *Banks 0.92%* |  |  |  |
| NatWest Group PLC | 600723 |  | 4624674 |
| *Capital Markets 0.64%* |  |  |  |
| St. James's Place PLC | 188484 |  | 3215922 |
| *Personal Care Products 0.81%* |  |  |  |
| Unilever PLC | 67178 |  | 4030970 |
| *Pharmaceuticals 1.11%* |  |  |  |
| AstraZeneca PLC | 33653 |  | 5551013 |
| *Tobacco 0.96%* |  |  |  |
| Imperial Brands PLC | 120716 |  | 4796564 |
| *Total United Kingdom* |  |  | 24781756 |

---

26 See Notes to Financial Statements.

**Schedule of Investments (continued)**

INTERNATIONAL EQUITY FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **United States 10.50%** |  |  |
| *Construction Materials 2.66%* |  |  |
| CRH PLC | 47026 | $5555673 |
| Holcim AG | 87411 | 7770943 |
|  |  | 13326616 |
| *Electrical Equipment 1.82%* |  |  |
| Schneider Electric SE | 32008 | 9120032 |
| *Entertainment 0.94%* |  |  |
| Spotify Technology SA\* | 7158 | 4690781 |
| *Food Products 0.85%* |  |  |
| Nestle SA Registered Shares | 44463 | 4248370 |
| *Interactive Media & Services 0.68%* |  |  |
| Meta Platforms, Inc. Class A | 5283 | 3425233 |
| *Oil, Gas & Consumable Fuels 1.45%* |  |  |
| Shell PLC | 193297 | 7246590 |
| *Pharmaceuticals 1.18%* |  |  |
| Novartis AG Registered Shares | 48006 | 5941302 |
| *Semiconductors & Semiconductor Equipment 0.92%* | *Semiconductors & Semiconductor Equipment 0.92%* |  |
| Broadcom, Inc. | 12446 | 4600415 |
| *Total United States* |  | 52599339 |
| *Total Common Stocks*<br> (cost $366,244,070) |  | 491675825 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal<br> Amount** | **U.S. $ Fair Value** |
| **SHORT-TERM INVESTMENTS 1.99%** |  |  |
| **Repurchase Agreements 1.37%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $5,271,200 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $6,999,645; proceeds: $6,864,327 <br> (cost $6,862,326) | $6862326 | $6862326 |
| **Time Deposits 0.06%** |  |  |
| CitiBank N.A.<sup>(b)</sup><br> (cost $311,598) | 311598 | 311598 |
|  | **Shares** |  |
| **Money Market Funds 0.56%** |  |  |
| Fidelity Government Portfolio<sup>(b)</sup><br> (cost $2,804,383) | 2804383 | 2804383 |
| *Total Short-Term Investments*<br> (cost $9,978,307) |  | 9978307 |
| *Total Investments in Securities 100.16%*<br> (cost $376,222,377) |  | 501654132 |
| *Other Assets and Liabilities – Net (0.16)%* |  | (815307) |
| *Net Assets 100.00%* |  | $500838825 |

---

<br> ADR American Depositary Receipt. <br> REITS Real Estate Investment Trusts.

---

| | |
|:---|:---|
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At October 31, 2025, the total value of Rule 144A securities was $6,141,651, which represents 1.23% of net assets. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. |
| <sup>(b)</sup> | Security was purchased with the cash collateral from loaned securities. |

---

See Notes to Financial Statements. 27

**Schedule of Investments (concluded)**

INTERNATIONAL EQUITY FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $– | $5961412 | $– | $5961412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 11124369 |  | 11124369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium |  | 1658566 |  | 1658566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | 6110458 |  |  | 6110458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 15379267 |  |  | 15379267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China |  | 27768236 |  | 27768236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France |  | 50927766 |  | 50927766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany |  | 40690923 |  | 40690923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece |  | 4587225 |  | 4587225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong |  | 2973353 |  | 2973353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hungary |  | 4584532 |  | 4584532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | 5584560 | 6941341 |  | 12525901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | 3416065 | 5334409 |  | 8750474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy |  | 12792362 |  | 12792362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan |  | 85358247 |  | 85358247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | 3744803 |  |  | 3744803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | 3879690 | 16802069 |  | 20681759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | 4696956 |  |  | 4696956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore |  | 5055246 |  | 5055246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea |  | 21355061 |  | 21355061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 16531480 |  | 16531480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden |  | 2479637 |  | 2479637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland |  | 15350227 |  | 15350227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan |  | 33206470 |  | 33206470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom |  | 24781756 |  | 24781756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 12716429 | 39882910 |  | 52599339 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements |  | 6862326 |  | 6862326 |
| &nbsp;&nbsp;&nbsp;Time Deposits |  | 311598 |  | 311598 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | 2804383 | – | – | 2804383 |
| Total | $58332611 | $443321521 | $– | $501654132 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

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

28 See Notes to Financial Statements.

**Schedule of Investments**

INTERNATIONAL OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **LONG-TERM INVESTMENTS 97.72%** |  |  |
| **COMMON STOCKS 97.70%** |  |  |
| **Australia 4.20%** |  |  |
| *Diversified REITS 1.11%* |  |  |
| Charter Hall Group | 240000 | $3524809 |
| *Insurance 0.56%* |  |  |
| Steadfast Group Ltd. | 485000 | 1776707 |
| *Metals & Mining 0.63%* |  |  |
| Imdex Ltd. | 900000 | 2023271 |
| *Professional Services 1.52%* |  |  |
| ALS Ltd. | 340000 | 4825521 |
| *Software 0.38%* |  |  |
| IREN Ltd.\*<sup>(a)</sup> | 20000 | 1215000 |
| *Total Australia* |  | 13365308 |
| **Austria 1.49%** |  |  |
| *Banks 1.19%* |  |  |
| BAWAG Group AG<sup>†</sup> | 29376 | 3796297 |
| *Construction Materials 0.30%* |  |  |
| Wienerberger AG | 32000 | 949909 |
| *Total Austria* |  | 4746206 |
| **Belgium 0.53%** |  |  |
| *Health Care REITS Aedifica SA* | 23000 | 1679654 |
| **Canada 11.83%** |  |  |
| *Capital Markets 0.89%* |  |  |
| TMX Group Ltd. | 77000 | 2839977 |
| *Consumer Staples Distribution & Retail 0.74%* | *Consumer Staples Distribution & Retail 0.74%* |  |
| North West Co., Inc. | 72800 | 2361698 |
| *Gas Utilities 1.03%* |  |  |
| Brookfield Infrastructure Corp. Class A | 71989 | 3261845 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Canada (continued)** |  |  |  |
| *Metals & Mining 4.64%* |  |  |  |
| Alamos Gold, Inc. Class A | 158929 | $| 4899711 |
| Capstone Copper Corp.\* | 611100 |  | 5455044 |
| DPM Metals, Inc. | 205000 |  | 4384871 |
|  |  |  | 14739626 |
| *Oil, Gas & Consumable Fuels 1.95%* | *Oil, Gas & Consumable Fuels 1.95%* |  |  |
| Parkland Corp. | 134000 |  | 3817789 |
| Topaz Energy Corp. | 134000 |  | 2378953 |
|  |  |  | 6196742 |
| *Retail REITS 1.27%* |  |  |  |
| First Capital Real Estate Investment Trust | 300200 |  | 4026068 |
| *Trading Companies & Distributors 1.31%* | *Trading Companies & Distributors 1.31%* |  |  |
| Finning International, Inc. | 77000 |  | 4164165 |
| *Total Canada* |  |  | 37590121 |
| **China 0.43%** |  |  |  |
| *Textiles, Apparel & Luxury Goods* |  |  |  |
| Xtep International Holdings Ltd. | 1900000 |  | 1375819 |
| **France 7.46%** |  |  |  |
| *Aerospace & Defense 1.34%* |  |  |  |
| LISI SA | 73000 |  | 4275975 |
| *Biotechnology 1.24%* |  |  |  |
| Abivax SA ADR\* | 38500 |  | 3943170 |
| *Commercial Services & Supplies 0.86%* | *Commercial Services & Supplies 0.86%* |  |  |
| Elis SA | 98000 |  | 2729216 |
| *Electronic Equipment, Instruments & Components 0.50%* | *Electronic Equipment, Instruments & Components 0.50%* | *Electronic Equipment, Instruments & Components 0.50%* | *Electronic Equipment, Instruments & Components 0.50%* |
| VusionGroup | 5700 |  | 1584321 |
| *Energy Equipment & Services 0.56%* |  |  |  |
| Technip Energies NV | 44000 |  | 1787898 |

---

See Notes to Financial Statements. 29

**Schedule of Investments (continued)**

INTERNATIONAL OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **France (continued)** |  |  |
| *Hotels, Restaurants & Leisure 0.51%* |  |  |
| Cie des Alpes | 70000 | $1605841 |
| *Household Durables 0.84%* |  |  |
| Kaufman & Broad SA | 79000 | 2658516 |
| *Information Technology Services 0.29%* |  |  |
| Sopra Steria Group | 5900 | 918313 |
| *Oil, Gas & Consumable Fuels 0.77%* |  |  |
| Gaztransport Et Technigaz SA | 12349 | 2445472 |
| *Software 0.55%* |  |  |
| Planisware SA | 74781 | 1757265 |
| *Total France* |  | 23705987 |
| **Germany 8.62%** |  |  |
| *Capital Markets 1.09%* |  |  |
| flatexDEGIRO AG | 91000 | 3451808 |
| *Chemicals 0.93%* |  |  |
| AlzChem Group AG | 15400 | 2966846 |
| *Electrical Equipment 1.02%* |  |  |
| Pfisterer Holding SE\* | 38500 | 3257274 |
| *Information Technology Services 0.29%* |  |  |
| IONOS Group SE\* | 26000 | 923421 |
| *Interactive Media & Services 0.27%* |  |  |
| Scout24 SE<sup>†</sup> | 7500 | 867347 |
| *Machinery 1.94%* |  |  |
| Deutz AG | 210000 | 2081494 |
| RENK Group AG | 53500 | 4073290 |
|  |  | 6154784 |
| *Media 0.49%* |  |  |
| Stroeer SE & Co. KGaA | 35500 | 1553270 |
| *Real Estate Management & Development 1.11%* |  |  |
| TAG Immobilien AG | 212433 | 3526582 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Germany (continued)** |  |  |
| *Software 0.91%* |  |  |
| Innoscripta SE\* | 21500 | $2889578 |
| *Wireless Telecommunication Services 0.57%* |  |  |
| Freenet AG | 58579 | 1821681 |
| *Total Germany* |  | 27412591 |
| **Greece 1.25%** |  |  |
| *Banks* |  |  |
| Alpha Bank SA | 1012221 | 3968118 |
| **Hong Kong 1.78%** |  |  |
| *Hotels, Restaurants & Leisure 0.77%* |  |  |
| Melco Resorts & Entertainment Ltd. ADR\* | 300000 | 2460000 |
| *Semiconductors & Semiconductor Equipment 1.01%* | *Semiconductors & Semiconductor Equipment 1.01%* |  |
| ASMPT Ltd. | 303200 | 3191418 |
| *Total Hong Kong* |  | 5651418 |
| **Ireland 0.79%** |  |  |
| *Hotels, Restaurants & Leisure* |  |  |
| Dalata Hotel Group PLC | 337534 | 2505537 |
| **Israel 1.79%** |  |  |
| *Capital Markets* |  |  |
| Tel Aviv Stock Exchange Ltd. | 244657 | 5695371 |
| **Italy 5.07%** |  |  |
| *Aerospace & Defense 0.84%* |  |  |
| Avio SpA<sup>(a)</sup> | 61500 | 2665147 |
| *Automobile Components 0.93%* |  |  |
| Pirelli & C SpA<sup>†</sup> | 420000 | 2948418 |
| *Health Care Equipment & Supplies 0.29%* |  |  |
| DiaSorin SpA | 10500 | 930017 |
| *Hotels, Restaurants & Leisure 0.41%* | *Hotels, Restaurants & Leisure 0.41%* |  |
| Lottomatica Group SpA | 52833 | 1302764 |

---

30 See Notes to Financial Statements.

**Schedule of Investments (continued)**

INTERNATIONAL OPPORTUNITIES FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Italy (continued)** |  |  |  |
| *Leisure Products 0.91%* |  |  |  |
| Technogym SpA<sup>†</sup> | 160000 | $| 2898089 |
| *Machinery 0.75%* |  |  |  |
| Interpump Group SpA | 46000 |  | 2374075 |
| *Textiles, Apparel & Luxury Goods 0.94%* |  |  |  |
| Brunello Cucinelli SpA<sup>(a)</sup> | 29666 |  | 3006599 |
| *Total Italy* |  |  | 16125109 |
| **Japan 19.71%** |  |  |  |
| *Banks 0.87%* |  |  |  |
| Mebuki Financial Group, Inc. | 445000 |  | 2776627 |
| *Beverages 1.18%* |  |  |  |
| Coca-Cola Bottlers Japan Holdings, Inc. | 235000 |  | 3760701 |
| *Chemicals 0.79%* |  |  |  |
| Aica Kogyo Co. Ltd. | 59100 |  | 1391758 |
| Kansai Paint Co. Ltd. | 69000 |  | 1107478 |
|  |  |  | 2499236 |
| *Commercial Services & Supplies 1.68%* |  |  |  |
| Daiei Kankyo Co. Ltd. | 135000 |  | 3002331 |
| Japan Elevator Service Holdings Co. Ltd. | 198000 |  | 2330882 |
|  |  |  | 5333213 |
| *Electrical Equipment 1.13%* |  |  |  |
| Furukawa Electric Co. Ltd. | 50500 |  | 3574675 |
| *Electronic Equipment, Instruments & Components 2.09%* | *Electronic Equipment, Instruments & Components 2.09%* | *Electronic Equipment, Instruments & Components 2.09%* | *Electronic Equipment, Instruments & Components 2.09%* |
| Azbil Corp. | 375400 |  | 3700462 |
| Taiyo Yuden Co. Ltd. | 104000 |  | 2953787 |
|  |  |  | 6654249 |
| *Food Products 1.10%* |  |  |  |
| Kewpie Corp. | 126000 |  | 3492778 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Japan (continued)** |  |  |
| *Information Technology Services 1.75%* |  |  |
| NS Solutions Corp. | 91476 | $2304905 |
| Simplex Holdings, Inc. | 117100 | 3265179 |
|  |  | 5570084 |
| *Machinery 3.42%* |  |  |
| DMG Mori Co. Ltd. | 77400 | 1200431 |
| Japan Steel Works Ltd. | 54500 | 3569378 |
| Organo Corp. | 71200 | 6110325 |
|  |  | 10880134 |
| *Real Estate Management & Development 0.93%* | *Real Estate Management & Development 0.93%* |  |
| Tokyu Fudosan Holdings Corp. | 367800 | 2963985 |
| *Semiconductors & Semiconductor Equipment 1.34%* | *Semiconductors & Semiconductor Equipment 1.34%* |  |
| Kokusai Electric Corp. | 84000 | 3069480 |
| SUMCO Corp. | 117000 | 1192326 |
|  |  | 4261806 |
| *Software 0.80%* |  |  |
| OBIC Business Consultants Co. Ltd. | 44600 | 2552473 |
| *Specialty Retail 1.50%* |  |  |
| JINS Holdings, Inc. | 50700 | 2559509 |
| USS Co. Ltd. | 200000 | 2207575 |
|  |  | 4767084 |
| *Wireless Telecommunication Services 1.13%* | *Wireless Telecommunication Services 1.13%* |  |
| Okinawa Cellular Telephone Co. | 214400 | 3574185 |
| *Total Japan* |  | 62661230 |
| **Mexico 1.63%** |  |  |
| *Capital Markets 0.63%* |  |  |
| Bolsa Mexicana de Valores SAB de CV | 1050000 | 2004091 |
| *Consumer Finance 1.00%* |  |  |
| Gentera SAB de CV | 1332820 | 3170904 |
| *Total Mexico* |  | 5174995 |

---

See Notes to Financial Statements. 31

**Schedule of Investments (continued)**

INTERNATIONAL OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Netherlands 2.95%** |  |  |
| *Biotechnology 1.09%* |  |  |
| uniQure NV\* | 51000 | $3452190 |
| *Insurance 0.50%* |  |  |
| ASR Nederland NV | 24000 | 1601727 |
| *Professional Services 0.55%* |  |  |
| Arcadis NV | 36500 | 1743122 |
| *Semiconductors & Semiconductor Equipment 0.81%* | *Semiconductors & Semiconductor Equipment 0.81%* |  |
| BE Semiconductor Industries NV | 15183 | 2588642 |
| *Total Netherlands* |  | 9385681 |
| **New Zealand 0.93%** |  |  |
| *Transportation Infrastructure* |  |  |
| Port of Tauranga Ltd. | 655000 | 2948583 |
| **Peru 1.68%** |  |  |
| *Banks* |  |  |
| Intercorp Financial Services, Inc. | 124356 | 5351039 |
| **South Africa 0.72%** |  |  |
| *Software* |  |  |
| Optasia Group\* | 2090909 | 2291407 |
| **South Korea 0.85%** |  |  |
| *Banks* |  |  |
| BNK Financial Group, Inc. | 280000 | 2710608 |
| **Spain 2.27%** |  |  |
| *Air Freight & Logistics 1.11%* |  |  |
| Logista Integral SA | 106000 | 3532684 |
| *Banks 0.30%* |  |  |
| Unicaja Banco SA<sup>†</sup> | 355000 | 958433 |
| *Containers & Packaging 0.22%* |  |  |
| Vidrala SA | 7250 | 690606 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Spain (continued)** |  |  |  |
| *Machinery 0.64%* |  |  |  |
| Fluidra SA | 70000 | $| 2026820 |
| *Total Spain* |  |  | 7208543 |
| **Sweden 0.58%** |  |  |  |
| *Commercial Services & Supplies* |  |  |  |
| Loomis AB | 45468 |  | 1831698 |
| **Switzerland 5.48%** |  |  |  |
| *Building Products 2.35%* |  |  |  |
| Belimo Holding AG Registered Shares | 3450 |  | 3722357 |
| dormakaba Holding AG | 44000 |  | 3758336 |
|  |  |  | 7480693 |
| *Capital Markets 1.21%* |  |  |  |
| EFG International AG | 185000 |  | 3857785 |
| *Electrical Equipment 1.00%* |  |  |  |
| Huber & Suhner AG | 17300 |  | 3168437 |
| *Health Care Equipment & Supplies 0.92%* |  |  |  |
| Medacta Group SA<sup>†</sup> | 15800 |  | 2927469 |
| *Total Switzerland* |  |  | 17434384 |
| **Taiwan 2.40%** |  |  |  |
| *Electronic Equipment, Instruments & Components 1.44%* | *Electronic Equipment, Instruments & Components 1.44%* | *Electronic Equipment, Instruments & Components 1.44%* | *Electronic Equipment, Instruments & Components 1.44%* |
| Chroma ATE, Inc. | 173000 |  | 4580467 |
| *Semiconductors & Semiconductor Equipment 0.96%* | *Semiconductors & Semiconductor Equipment 0.96%* |  |  |
| Realtek Semiconductor Corp. | 55000 |  | 918426 |
| Visual Photonics Epitaxy Co. Ltd. | 475000 |  | 2125019 |
|  |  |  | 3043445 |
| *Total Taiwan* |  |  | 7623912 |

---

32 See Notes to Financial Statements.

**Schedule of Investments (continued)**

INTERNATIONAL OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal<br> Amount** | **U.S. $ Fair Value** |
| **United Kingdom 13.26%** |  |  |
| *Aerospace & Defense 1.66%* |  |  |
| Chemring Group PLC | 701488 | $5287996 |
| *Banks 0.64%* |  |  |
| Shawbrook Group PLC<sup>†</sup>\* | 395830 | 2033207 |
| *Biotechnology 0.59%* |  |  |
| Genus PLC | 58500 | 1890545 |
| *Capital Markets 1.42%* |  |  |
| St. James's Place PLC | 265000 | 4521441 |
| *Construction & Engineering 0.50%* |  |  |
| Renew Holdings PLC | 130000 | 1581432 |
| *Construction Materials 0.47%* |  |  |
| Breedon Group PLC | 329923 | 1493564 |
| *Food Products 1.57%* |  |  |
| Cranswick PLC | 48000 | 3113986 |
| Premier Foods PLC | 781913 | 1873611 |
|  |  | 4987597 |
| *Household Durables 0.38%* |  |  |
| Persimmon PLC | 75000 | 1191983 |
| *Insurance 0.90%* |  |  |
| Lancashire Holdings Ltd. | 324653 | 2850849 |
| *Machinery 1.37%* |  |  |
| Rotork PLC | 965000 | 4344289 |
| *Pharmaceuticals 0.66%* |  |  |
| Hikma Pharmaceuticals PLC | 87264 | 2110872 |
| *Specialized REITS 1.13%* |  |  |
| Big Yellow Group PLC | 245247 | 3587202 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **United Kingdom (continued)** |  |  |
| *Trading Companies & Distributors 1.97%* | *Trading Companies & Distributors 1.97%* |  |
| Ashtead Technology Holdings PLC<sup>(a)</sup> | 160000 | $688645 |
| Diploma PLC | 52500 | 3873082 |
| Howden Joinery Group PLC | 150000 | 1703679 |
|  |  | 6265406 |
| *Total United Kingdom* |  | 42146383 |
| *Total Common Stocks*<br> (cost $253,918,607) |  | 310589702 |
| **RIGHTS 0.02%** |  |  |
| **Spain 0.02%** |  |  |
| *Containers & Packaging 0.02%* |  |  |
| Vidrala SA\* | 15821 | 74768 |
| *Total Rights* (cost $41,899) |  | 74768 |
| *Total Long-Term Investments*<br> (cost $253,960,506) |  | 310664470 |
|  | **Principal<br> Amount** |  |
| **SHORT-TERM INVESTMENTS 5.16%** | **SHORT-TERM INVESTMENTS 5.16%** |  |
| **Repurchase Agreements 3.46%** | **Repurchase Agreements 3.46%** |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $10,993,200 of U.S. Treasury Note at 4.250% due 12/31/2026; value: $11,214,664; proceeds: $10,997,913 <br> (cost $10,994,706) | $10994706 | 10994706 |
| **Time Deposits 0.17%** |  |  |
| CitiBank N.A.<sup>(b)</sup><br> (cost $541,475) | 541475 | 541475 |

---

See Notes to Financial Statements. 33

**Schedule of Investments (continued)**

INTERNATIONAL OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Money Market Funds 1.53%** |  |  |
| Fidelity Government Portfolio<sup>(b)</sup><br> (cost $4,873,274) | 4873274 | $4873274 |
| *Total Short-Term Investments*<br> (cost $16,409,455) |  | 16409455 |
| *Total Investments in Securities 102.88%*<br> (cost $270,369,961) |  | 327073925 |
| *Other Assets and Liabilities – Net (2.88)%* |  | (9167439) |
| *Net Assets 100.00%* |  | $317906486 |

---

<br> ADR American Depositary Receipt. <br> REITS Real Estate Investment Trusts.

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At October 31, 2025, the total value of Rule 144A securities was $16,429,260, which represents 5.17% of net assets. |
| <sup>(a)</sup> | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. |
| <sup>(b)</sup> | Security was purchased with the cash collateral from loaned securities. |

---

34 See Notes to Financial Statements.

**Schedule of Investments (concluded)**

INTERNATIONAL OPPORTUNITIES FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $1215000 | $12150308 | $– | $13365308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 4746206 |  | 4746206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium |  | 1679654 |  | 1679654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 37590121 |  |  | 37590121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China |  | 1375819 |  | 1375819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | 3943170 | 19762817 |  | 23705987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | 6146852 | 21265739 |  | 27412591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece |  | 3968118 |  | 3968118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | 2460000 | 3191418 |  | 5651418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | 2505537 |  |  | 2505537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel |  | 5695371 |  | 5695371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy |  | 16125109 |  | 16125109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | 6052287 | 56608943 |  | 62661230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | 5174995 |  |  | 5174995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | 5053917 | 4331764 |  | 9385681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Zealand |  | 2948583 |  | 2948583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | 5351039 |  |  | 5351039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa |  | 2291407 |  | 2291407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea |  | 2710608 |  | 2710608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 7208543 |  | 7208543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden |  | 1831698 |  | 1831698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland |  | 17434384 |  | 17434384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan |  | 7623912 |  | 7623912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | 8872359 | 33274024 |  | 42146383 |
| &nbsp;&nbsp;&nbsp;Rights | 74768 |  |  | 74768 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements |  | 10994706 |  | 10994706 |
| &nbsp;&nbsp;&nbsp;Time Deposits |  | 541475 |  | 541475 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | 4873274 | – | – | 4873274 |
| Total | $89313319 | $237760606 | $– | $327073925 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

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

See Notes to Financial Statements. 35

**Schedule of Investments**

INTERNATIONAL VALUE FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **LONG-TERM INVESTMENTS 97.42%** |  |  |
| **COMMON STOCKS 97.42%** |  |  |
| **Australia 3.70%** |  |  |
| *Insurance 1.10%* |  |  |
| QBE Insurance Group Ltd. | 397050 | $5151554 |
| *Metals & Mining 2.60%* |  |  |
| BHP Group Ltd. | 427181 | 12178160 |
| *Total Australia* |  | 17329714 |
| **Austria 2.79%** |  |  |
| *Banks 2.55%* |  |  |
| BAWAG Group AG<sup>†</sup> | 24086 | 3112664 |
| Erste Group Bank AG | 85246 | 8830536 |
|  |  | 11943200 |
| *Construction Materials 0.24%* |  |  |
| Wienerberger AG | 38082 | 1130450 |
| *Total Austria* |  | 13073650 |
| **Canada 3.85%** |  |  |
| *Banks 1.71%* |  |  |
| Toronto-Dominion Bank | 97355 | 7993585 |
| *Oil, Gas & Consumable Fuels 2.14%* |  |  |
| Parkland Corp. | 136505 | 3889159 |
| Pembina Pipeline Corp. | 161934 | 6126140 |
|  |  | 10015299 |
| *Total Canada* |  | 18008884 |
| **China 2.18%** |  |  |
| *Interactive Media & Services 1.13%* |  |  |
| Tencent Holdings Ltd. | 64900 | 5271678 |
| *Marine Transportation 1.05%* |  |  |
| SITC International Holdings Co. Ltd. | 1340000 | 4935403 |
| *Total China* |  | 10207081 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **France 9.66%** |  |  |
| *Banks 1.28%* |  |  |
| Societe Generale SA | 94671 | $6004092 |
| *Building Products 1.13%* |  |  |
| Cie de Saint-Gobain SA | 54641 | 5303565 |
| *Construction & Engineering 1.25%* |  |  |
| Eiffage SA | 47347 | 5826036 |
| *Diversified Telecommunication Services 1.26%* |  |  |
| Orange SA | 367984 | 5886406 |
| *Gas Utilities 1.22%* |  |  |
| Rubis SCA | 156842 | 5695239 |
| *Hotels, Restaurants & Leisure 0.20%* |  |  |
| Sodexo SA | 16610 | 919703 |
| *Information Technology Services 0.83%* |  |  |
| Capgemini SE | 25370 | 3903058 |
| *Insurance 1.61%* |  |  |
| AXA SA | 174054 | 7551925 |
| *Media 0.88%* |  |  |
| Publicis Groupe SA | 41073 | 4116710 |
| *Total France* |  | 45206734 |
| **Germany 4.54%** |  |  |
| *Automobiles 0.68%* |  |  |
| Bayerische Motoren Werke AG | 34179 | 3187015 |
| *Health Care Providers & Services 2.16%* |  |  |
| Fresenius SE & Co. KGaA | 175484 | 10097868 |
| *Industrial Conglomerates 1.70%* |  |  |
| Siemens AG | 28114 | 7967429 |
| *Total Germany* |  | 21252312 |
| **Hong Kong 1.48%** |  |  |
| *Insurance* |  |  |
| Prudential PLC | 499638 | 6949006 |

---

36 See Notes to Financial Statements.

**Schedule of Investments (continued)**

INTERNATIONAL VALUE FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Ireland 3.20%** | | |
| *Banks 1.80%* |  |  |
| AIB Group PLC | 913070 | $8415151 |
| *Trading Companies & Distributors 1.40%* |  |  |
| AerCap Holdings NV | 50364 | 6559407 |
| *Total Ireland* |  | 14974558 |
| **Italy 5.47%** |  |  |
| *Banks 0.95%* |  |  |
| Banca Monte dei Paschi di Siena SpA | 505722 | 4435427 |
| *Beverages 0.98%* |  |  |
| Coca-Cola HBC AG | 101200 | 4592258 |
| *Electric: Utilities 2.10%* |  |  |
| Enel SpA | 973557 | 9848266 |
| *Passenger Airlines 1.44%* |  |  |
| Ryanair Holdings PLC | 221863 | 6717038 |
| *Total Italy* |  | 25592989 |
| **Japan 16.90%** |  |  |
| *Automobiles 2.81%* |  |  |
| Subaru Corp. | 75700 | 1610375 |
| Toyota Motor Corp. | 565700 | 11532996 |
|  |  | 13143371 |
| *Banks 3.07%* |  |  |
| Mizuho Financial Group, Inc. | 205000 | 6866570 |
| Sumitomo Mitsui Financial Group, Inc. | 277089 | 7501849 |
|  |  | 14368419 |
| *Building Products 0.39%* |  |  |
| Sanwa Holdings Corp. | 67400 | 1838113 |
| *Electrical Equipment 1.82%* |  |  |
| Fuji Electric Co. Ltd. | 119501 | 8534924 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **Japan (continued)** | | |
| *Electronic Equipment, Instruments & Components 1.53%* | *Electronic Equipment, Instruments & Components 1.53%* | *Electronic Equipment, Instruments & Components 1.53%* |
| Murata Manufacturing Co. Ltd. | 331951 | $7157167 |
| *Entertainment 0.51%* |  |  |
| Nintendo Co. Ltd. | 27800 | 2371059 |
| *Industrial Conglomerates 1.29%* |  |  |
| Hitachi Ltd. | 176950 | 6044431 |
| *Insurance 1.31%* |  |  |
| Sompo Holdings, Inc. | 201381 | 6137179 |
| *Technology Hardware, Storage & Peripherals 1.53%* | *Technology Hardware, Storage & Peripherals 1.53%* | *Technology Hardware, Storage & Peripherals 1.53%* |
| FUJIFILM Holdings Corp. | 309600 | 7175502 |
| *Trading Companies & Distributors 1.55%* |  |  |
| ITOCHU Corp. | 97875 | 5669238 |
| Sumitomo Corp. | 53800 | 1565093 |
|  |  | 7234331 |
| *Wireless Telecommunication Services 1.09%* | *Wireless Telecommunication Services 1.09%* |  |
| KDDI Corp. | 319700 | 5096130 |
| *Total Japan* |  | 79100626 |
| **Mexico 1.20%** |  |  |
| *Banks* |  |  |
| Grupo Financiero Banorte SAB de CV Class O | 596468 | 5613609 |
| **Netherlands 5.56%** |  |  |
| *Banks 2.20%* |  |  |
| ING Groep NV | 412812 | 10307777 |
| *Chemicals 1.19%* |  |  |
| Akzo Nobel NV | 84064 | 5555381 |
| *Insurance 2.17%* |  |  |
| NN Group NV | 148658 | 10173388 |
| *Total Netherlands* |  | 26036546 |

---

See Notes to Financial Statements. 37

**Schedule of Investments (continued)**

INTERNATIONAL VALUE FUND *October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** | **U.S. $ Fair Value** |
| **Singapore 0.49%** | | | |
| *Banks* |  |  |  |
| United Overseas Bank Ltd. | 86508 | $| 2300892 |
| **South Korea 2.95%** |  |  |  |
| *Banks 1.13%* |  |  |  |
| KB Financial Group, Inc. | 64504 |  | 5265693 |
| *Technology Hardware, Storage & Peripherals 1.82%* | *Technology Hardware, Storage & Peripherals 1.82%* | *Technology Hardware, Storage & Peripherals 1.82%* | *Technology Hardware, Storage & Peripherals 1.82%* |
| Samsung Electronics Co. Ltd. | 113437 |  | 8539104 |
| *Total South Korea* |  |  | 13804797 |
| **Spain 3.89%** |  |  |  |
| *Banks 1.40%* |  |  |  |
| CaixaBank SA | 619029 |  | 6542979 |
| *Electric: Utilities 1.61%* |  |  |  |
| Iberdrola SA | 371489 |  | 7528685 |
| *Information Technology Services 0.88%* |  |  |  |
| Indra Sistemas SA | 74976 |  | 4147479 |
| *Total Spain* |  |  | 18219143 |
| **Sweden 1.39%** |  |  |  |
| *Commercial Services & Supplies 0.86%* |  |  |  |
| Loomis AB | 100404 |  | 4044819 |
| *Machinery 0.53%* |  |  |  |
| Volvo AB Class B | 89547 |  | 2453144 |
| *Total Sweden* |  |  | 6497963 |
| **Taiwan 1.23%** |  |  |  |
| *Semiconductors & Semiconductor Equipment* |  |  |  |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 119514 |  | 5779657 |
| **United Kingdom 15.75%** |  |  |  |
| *Banks 5.16%* |  |  |  |
| HSBC Holdings PLC | 861152 |  | 12055647 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $ Fair Value** |
| **United Kingdom (continued)** | | |
| Lloyds Banking Group PLC | 10329225 | $12110887 |
|  |  | 24166534 |
| *Broadline Retail 0.80%* |  |  |
| Next PLC | 19880 | 3735254 |
| *Capital Markets 0.93%* |  |  |
| St. James's Place PLC | 256697 | 4379775 |
| *Electric: Utilities 1.26%* |  |  |
| SSE PLC | 234889 | 5917508 |
| *Health Care Equipment & Supplies 1.12%* |  |  |
| Smith & Nephew PLC | 282896 | 5223960 |
| *Hotels, Restaurants & Leisure 0.64%* |  |  |
| Entain PLC | 288404 | 3003929 |
| *Household Durables 0.75%* |  |  |
| Persimmon PLC | 221446 | 3519466 |
| *Personal Care Products 1.76%* |  |  |
| Unilever PLC | 137337 | 8240814 |
| *Pharmaceuticals 0.95%* |  |  |
| Hikma Pharmaceuticals PLC | 183001 | 4426702 |
| *Residential REITS 0.25%* |  |  |
| UNITE Group PLC | 155408 | 1159222 |
| *Tobacco 2.13%* |  |  |
| Imperial Brands PLC | 250699 | 9961346 |
| *Total United Kingdom* |  | 73734510 |
| **United States 11.19%** |  |  |
| *Construction Materials 2.28%* |  |  |
| CRH PLC | 38753 | 4578297 |
| Holcim AG | 68863 | 6122004 |
|  |  | 10700301 |

---

38 See Notes to Financial Statements.

**Schedule of Investments (continued)**

INTERNATIONAL VALUE FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **U.S. $Fair Value** |
| **United States (continued)** | | |
| *Food Products 1.13%* |  |  |
| Nestle SA Registered Shares | 55180 | $5272363 |
| *Oil, Gas & Consumable Fuels 4.51%* |  |  |
| BP PLC | 999515 | 5855966 |
| Shell PLC ADR | 203951 | 15280009 |
|  |  | 21135975 |
| *Pharmaceuticals 3.27%* |  |  |
| Novartis AG Registered Shares | 84456 | 10452414 |
| Roche Holding AG | 14935 | 4837748 |
|  |  | 15290162 |
| *Total United States* |  | 52398801 |
| *Total Common Stocks* <br> (cost $377,326,209) |  | 456081472 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal <br> Amount** | **U.S. $ Fair Value** |
| **SHORT-TERM INVESTMENTS 1.66%** |  |  |
| **Repurchase Agreements 1.66%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $5,988,200 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $7,951,775; proceeds: $7,798,005 <br> (cost $7,795,731) | $7795731 | $7795731 |
| *Total Investments in Securities 99.08% <br> (cost $385,121,940)* |  | 463877203 |
| *Other Assets and Liabilities – Net 0.92%* |  | 4298367 |
| *Net Assets 100.00%* |  | $468175570 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| REITS | Real Estate Investment Trusts. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At October 31, 2025, the total value of Rule 144A securities was $3,112,664, which represents 0.66% of net assets. |

---

See Notes to Financial Statements. 39

**Schedule of Investments (concluded)**

INTERNATIONAL VALUE FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $– | $17329714 | $– | $17329714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 13073650 |  | 13073650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 18008884 |  |  | 18008884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | 4935403 | 5271678 |  | 10207081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France |  | 45206734 |  | 45206734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany |  | 21252312 |  | 21252312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong |  | 6949006 |  | 6949006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | 6559407 | 8415151 |  | 14974558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy |  | 25592989 |  | 25592989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan |  | 79100626 |  | 79100626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | 5613609 |  |  | 5613609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands |  | 26036546 |  | 26036546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore |  | 2300892 |  | 2300892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea |  | 13804797 |  | 13804797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 18219143 |  | 18219143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden |  | 6497963 |  | 6497963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan |  | 5779657 |  | 5779657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom |  | 73734510 |  | 73734510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 15280009 | 37118792 |  | 52398801 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase Agreements | – | 7795731 | – | 7795731 |
| Total | $50397312 | $413479891 | $– | $463877203 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

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

40 See Notes to Financial Statements.

**Schedule of Investments**

MICRO CAP GROWTH FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **LONG-TERM INVESTMENTS 99.12%** |  |  |
| **COMMON STOCKS 99.12%** |  |  |
| **Aerospace & Defense 4.71%** |  |  |
| Mercury Systems, Inc.\* | 43681 | $3381346 |
| TAT Technologies Ltd. (Israel)\*<sup>(a)(b)</sup> | 78489 | 3296538 |
| VSE Corp. | 17036 | 3078065 |
| *Total* |  | 9755949 |
| **Beverages 1.23%** |  |  |
| Vita Coco Co., Inc.\* | 61836 | 2546406 |
| **Biotechnology 17.86%** |  |  |
| Arcellx, Inc.\* | 29516 | 2663819 |
| Celcuity, Inc.\* | 42155 | 3252680 |
| Cidara Therapeutics, Inc.\* | 41615 | 4546023 |
| Cogent Biosciences, Inc.\* | 97264 | 1585403 |
| Mineralys Therapeutics, Inc.\* | 37457 | 1530493 |
| Mirum Pharmaceuticals, Inc.\* | 66260 | 4813789 |
| Newamsterdam Pharma Co. NV (Netherlands)\*<sup>(a)</sup> | 42179 | 1600693 |
| ORIC Pharmaceuticals, Inc.\* | 81472 | 1072171 |
| Praxis Precision Medicines, Inc.\* | 9010 | 1790828 |
| PTC Therapeutics, Inc.\* | 36988 | 2526650 |
| Rhythm Pharmaceuticals, Inc.\* | 42405 | 4823993 |
| Soleno Therapeutics, Inc.\* | 17463 | 1172815 |
| Travere Therapeutics, Inc.\* | 39896 | 1402743 |
| uniQure NV (Netherlands)\*<sup>(a)</sup> | 62003 | 4196983 |
| *Total* |  | 36979083 |
| **Broadline Retail 1.89%** |  |  |
| Pattern Group, Inc. Class A\* | 221909 | 3912256 |
| **Capital Markets 2.14%** |  |  |
| Miami International Holdings, Inc.\*<sup>(b)</sup> | 40653 | 1776536 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Capital Markets (continued)** | | |
| Piper Sandler Cos. | 8323 | $2657201 |
| *Total* |  | 4433737 |
| **Chemicals 0.80%** |  |  |
| Hawkins, Inc. | 11660 | 1653971 |
| **Commercial Services & Supplies 1.18%** |  |  |
| CECO Environmental Corp.\* | 49872 | 2438242 |
| **Communications Equipment 2.85%** |  |  |
| Calix, Inc.\* | 62254 | 4259419 |
| Gilat Satellite Networks Ltd. (Israel)\*<sup>(a)</sup> | 113362 | 1642615 |
| *Total* |  | 5902034 |
| **Construction & Engineering 9.26%** |  |  |
| Argan, Inc. | 21049 | 6445414 |
| Legence Corp. Class A\* | 48028 | 1986918 |
| Limbach Holdings, Inc.\* | 25631 | 2421617 |
| Primoris Services Corp. | 32560 | 4607891 |
| Sterling Infrastructure, Inc.\* | 9823 | 3712112 |
| *Total* |  | 19173952 |
| **Consumer Finance 1.28%** |  |  |
| Dave, Inc.\* | 11088 | 2653580 |
| **Consumer Staples Distribution & Retail 0.47%** | **Consumer Staples Distribution & Retail 0.47%** |  |
| Chefs' Warehouse, Inc.\* | 16455 | 970845 |
| **Diversified Consumer Services 2.24%** |  |  |
| American Public Education, Inc.\* | 27476 | 920171 |
| Lincoln Educational Services Corp.\* | 63378 | 1230801 |
| Universal Technical Institute, Inc.\* | 83281 | 2475111 |
| *Total* |  | 4626083 |
| **Electrical Equipment 1.41%** |  |  |
| Powell Industries, Inc. | 7622 | 2922199 |

---

See Notes to Financial Statements. 41

**Schedule of Investments (continued)**

MICRO CAP GROWTH FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Electronic Equipment, Instruments & Components 6.83%** | **Electronic Equipment, Instruments & Components 6.83%** | **Electronic Equipment, Instruments & Components 6.83%** |
| Arlo Technologies, Inc.\* | 179401 | $3469615 |
| Bel Fuse, Inc. Class B | 17707 | 2726701 |
| nLight, Inc.\* | 50943 | 1681629 |
| OSI Systems, Inc.\* | 12481 | 3475459 |
| Ouster, Inc.\* | 83133 | 2773317 |
| *Total* |  | 14126721 |
| **Entertainment 1.18%** |  |  |
| IMAX Corp. (Canada)\*<sup>(a)</sup> | 39721 | 1290536 |
| Sphere Entertainment Co.\*<sup>(b)</sup> | 16836 | 1152929 |
| *Total* |  | 2443465 |
| **Financial Services 1.49%** |  |  |
| Paymentus Holdings, Inc. Class A\* | 107869 | 3085053 |
| **Food Products 0.54%** |  |  |
| Vital Farms, Inc.\* | 34191 | 1123174 |
| **Health Care Equipment & Supplies 5.54%** |  |  |
| Artivion, Inc.\* | 99629 | 4520168 |
| Beta Bionics, Inc.\* | 126248 | 3436470 |
| Kestra Medical Technologies Ltd.\*<sup>(b)</sup> | 56634 | 1550639 |
| TransMedics Group, Inc.\* | 14866 | 1955474 |
| *Total* |  | 11462751 |
| **Health Care Providers & Services 3.95%** |  |  |
| GeneDx Holdings Corp.\* | 33277 | 4555954 |
| Hinge Health, Inc. Class A\* | 25680 | 1277837 |
| Omada Health, Inc.\* | 95092 | 2336410 |
| *Total* |  | 8170201 |
| **Health Care Technology 1.10%** |  |  |
| HeartFlow, Inc.\* | 61508 | 2285637 |
| **Hotels, Restaurants & Leisure 1.62%** |  |  |
| Black Rock Coffee Bar, Inc. Class A\* | 25588 | 656588 |
| Genius Sports Ltd. (United Kingdom)\*<sup>(a)</sup> | 134135 | 1510360 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | |
| Lindblad Expeditions Holdings, Inc.\* | 97965 | $1181458 |
| *Total* |  | 3348406 |
| **Information Technology Services 2.78%** |  |  |
| Applied Digital Corp.\* | 165780 | 5745935 |
| **Insurance 0.40%** |  |  |
| Neptune Insurance Holdings, Inc. Class A\* | 32518 | 835062 |
| **Life Sciences Tools & Services 2.93%** |  |  |
| Adaptive Biotechnologies Corp.\* | 348934 | 6057494 |
| **Machinery 1.27%** |  |  |
| Standex International Corp. | 11308 | 2637365 |
| **Media 0.47%** |  |  |
| MNTN, Inc. Class A\*<sup>(b)</sup> | 58562 | 970958 |
| **Oil, Gas & Consumable Fuels 2.81%** |  |  |
| Centrus Energy Corp. Class A\*<sup>(b)</sup> | 15817 | 5812115 |
| **Personal Care Products 0.66%** |  |  |
| Oddity Tech Ltd. Class A (Israel)\*<sup>(a)</sup> | 30122 | 1363021 |
| **Pharmaceuticals 3.32%** |  |  |
| LENZ Therapeutics, Inc.\*<sup>(b)</sup> | 32531 | 966821 |
| Tarsus Pharmaceuticals, Inc.\* | 85833 | 5906169 |
| *Total* |  | 6872990 |
| **Professional Services 4.53%** |  |  |
| BlackSky Technology, Inc.\*<sup>(b)</sup> | 97558 | 2060425 |
| Huron Consulting Group, Inc.\* | 15122 | 2486662 |
| Innodata, Inc.\*<sup>(b)</sup> | 10845 | 809145 |
| Willdan Group, Inc.\* | 42482 | 4014974 |
| *Total* |  | 9371206 |

---

42 See Notes to Financial Statements.

**Schedule of Investments (continued)**

MICRO CAP GROWTH FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Semiconductors & Semiconductor Equipment 0.94%** | **Semiconductors & Semiconductor Equipment 0.94%** | **Semiconductors & Semiconductor Equipment 0.94%** |
| Ambarella, Inc.\* | 22920 | $1953472 |
| **Software 7.16%** |  |  |
| Agilysys, Inc.\* | 27059 | 3394822 |
| D-Wave Quantum, Inc. (Canada)\*<sup>(a)(b)</sup> | 36064 | 1336532 |
| Life360, Inc.\* | 36944 | 3646742 |
| Red Violet, Inc. | 28860 | 1547762 |
| Terawulf, Inc.\*<sup>(b)</sup> | 316253 | 4901922 |
| *Total* |  | 14827780 |
| **Specialty Retail 1.38%** |  |  |
| ThredUp, Inc. Class A\* | 219560 | 1929932 |
| Warby Parker, Inc. Class A\* | 47437 | 929291 |
| *Total* |  | 2859223 |
| **Trading Companies & Distributors 0.90%** | **Trading Companies & Distributors 0.90%** |  |
| Xometry, Inc. Class A\* | 38110 | 1855576 |
| *Total Common Stocks* <br> (cost $135,416,881) |  | 205175942 |
|  | **Principal <br> Amount** |  |
| **SHORT-TERM INVESTMENTS 9.52%** |  |  |
| **Repurchase Agreements 1.49%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $2,372,800 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $3,150,945; proceeds: $3,089,843 <br> (cost $3,088,942) | $3088942 | 3088942 |
| **Time Deposits 0.80%** |  |  |
| CitiBank N.A.<sup>(c)</sup> <br> (cost $1,661,494) | 1661494 | 1661494 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Money Market Funds 7.23%** |  |  |
| Fidelity Government Portfolio<sup>(c)</sup> <br> (cost $14,953,446) | 14953446 | $14953446 |
| *Total Short-Term Investments* <br> (cost $19,703,882) |  | 19703882 |
| *Total Investments in Securities 108.64%* <br> (cost $155,120,763) |  | 224879824 |
| *Other Assets and Liabilities – Net (8.64)%* |  | (17876436) |
| *Net Assets 100.00%* |  | $207003388 |

---

\* Non-income producing security.

<sup>(a)</sup> Foreign security traded in U.S. dollars.

<sup>(b)</sup> All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.

<sup>(c)</sup> Security was purchased with the cash collateral from loaned securities.

See Notes to Financial Statements. 43

**Schedule of Investments (concluded)**

MICRO CAP GROWTH FUND *October 31, 2025*

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type<sup>(2)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $205175942 | $– | $– | $205175942 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements |  | 3088942 |  | 3088942 |
| &nbsp;&nbsp;&nbsp;Time Deposits |  | 1661494 |  | 1661494 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | 14953446 | – | – | 14953446 |
| Total | $220129388 | $4750436 | $– | $224879824 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

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

44 See Notes to Financial Statements.

**Schedule of Investments**

VALUE OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 99.93%** | | |
| **COMMON STOCKS 99.93%** | | |
| **Aerospace & Defense 2.20%** | | |
| Curtiss-Wright Corp. | 40170 | $23930474 |
| **Banks 5.16%** |  |  |
| East West Bancorp, Inc. | 208563 | 21190001 |
| First BanCorp | 871905 | 16993428 |
| Wintrust Financial Corp. | 137347 | 17857857 |
| *Total* |  | 56041286 |
| **Beverages 1.49%** |  |  |
| Coca-Cola Consolidated, Inc. | 123918 | 16156429 |
| **Biotechnology 1.83%** |  |  |
| United Therapeutics Corp.\* | 44536 | 19837670 |
| **Building Products 4.46%** |  |  |
| A.O. Smith Corp. | 235480 | 15539325 |
| Allegion PLC (Ireland)<sup>(a)</sup> | 99903 | 16560920 |
| Builders FirstSource, Inc.\* | 140764 | 16352554 |
| *Total* |  | 48452799 |
| **Capital Markets 7.84%** |  |  |
| Cboe Global Markets, Inc. | 81803 | 20094089 |
| Moelis & Co. Class A | 277404 | 17567995 |
| SEI Investments Co. | 332631 | 26813385 |
| TPG, Inc. | 374678 | 20622277 |
| *Total* |  | 85097746 |
| **Chemicals 1.19%** |  |  |
| Avient Corp. | 403212 | 12931009 |
| **Commercial Services & Supplies 1.66%** |  |  |
| Brady Corp. Class A | 237150 | 18002056 |
| **Construction & Engineering 3.43%** |  |  |
| AECOM | 143568 | 19288361 |
| EMCOR Group, Inc. | 26491 | 17902088 |
| *Total* |  | 37190449 |
| **Construction Materials 1.00%** |  |  |
| Eagle Materials, Inc. | 50984 | 10824923 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Consumer Staples Distribution & Retail 1.84%** | **Consumer Staples Distribution & Retail 1.84%** | **Consumer Staples Distribution & Retail 1.84%** |
| BJ's Wholesale Club Holdings, Inc.\* | 165014 | $14564135 |
| Maplebear, Inc.\* | 145924 | 5378759 |
| *Total* |  | 19942894 |
| **Electric: Utilities 1.90%** |  |  |
| IDACORP, Inc. | 159500 | 20578690 |
| **Electronic Equipment, Instruments & Components 9.23%** | **Electronic Equipment, Instruments & Components 9.23%** | **Electronic Equipment, Instruments & Components 9.23%** |
| Advanced Energy Industries, Inc. | 108355 | 21966809 |
| Belden, Inc. | 195387 | 23807906 |
| Jabil, Inc. | 86556 | 19119355 |
| Littelfuse, Inc. | 76285 | 18560904 |
| TD SYNNEX Corp. | 106570 | 16677139 |
| *Total* |  | 100132113 |
| **Energy Equipment & Services 1.76%** | **Energy Equipment & Services 1.76%** |  |
| TechnipFMC PLC (United Kingdom)<sup>(a)</sup> | 461374 | 19077815 |
| **Ground Transportation 1.08%** |  |  |
| Landstar System, Inc. | 91092 | 11698946 |
| **Health Care Equipment & Supplies 2.11%** |  |  |
| Globus Medical, Inc. Class A\* | 252570 | 15252702 |
| Integer Holdings Corp.\* | 118370 | 7643151 |
| *Total* |  | 22895853 |
| **Health Care Providers & Services 1.41%** |  |  |
| Labcorp Holdings, Inc. | 60176 | 15282297 |
| **Hotels, Restaurants & Leisure 2.52%** | **Hotels, Restaurants & Leisure 2.52%** |  |
| Choice Hotels International, Inc.<sup>(b)</sup> | 101261 | 9413223 |
| Texas Roadhouse, Inc. | 109487 | 17909883 |
| *Total* |  | 27323106 |
| **Industrial REITS 1.65%** |  |  |
| First Industrial Realty Trust, Inc. | 325014 | 17966774 |

---

See Notes to Financial Statements. 45

**Schedule of Investments (continued)**

VALUE OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** |
| **Insurance 7.25%** |  |  |
| American Financial Group, Inc. | 169167 | $22275911 |
| RenaissanceRe Holdings Ltd. | 84733 | 21529808 |
| Ryan Specialty Holdings, Inc. | 261778 | 14345434 |
| White Mountains Insurance Group Ltd. | 10785 | 20540680 |
| *Total* |  | 78691833 |
| **Leisure Products 2.58%** |  |  |
| Acushnet Holdings Corp. | 221546 | 17132152 |
| YETI Holdings, Inc.\* | 319336 | 10854231 |
| *Total* |  | 27986383 |
| **Life Sciences Tools & Services 2.67%** | **Life Sciences Tools & Services 2.67%** |  |
| Azenta, Inc.\* | 382647 | 11555940 |
| Bio-Techne Corp. | 279062 | 17460909 |
| *Total* |  | 29016849 |
| **Machinery 6.45%** |  |  |
| AGCO Corp. | 156772 | 16172600 |
| Crane Co. | 104777 | 19907630 |
| Lincoln Electric Holdings, Inc. | 100514 | 23565507 |
| Mueller Industries, Inc. | 97670 | 10340323 |
| *Total* |  | 69986060 |
| **Metals & Mining 1.04%** |  |  |
| Reliance, Inc. | 39837 | 11251164 |
| **Multi-Utilities 1.61%** |  |  |
| CMS Energy Corp. | 238354 | 17530937 |
| **Oil, Gas & Consumable Fuels 3.18%** | **Oil, Gas & Consumable Fuels 3.18%** |  |
| Expand Energy Corp. | 195690 | 20216734 |
| Permian Resources Corp. | 1135308 | 14259468 |
| *Total* |  | 34476202 |
| **Personal Care Products 0.96%** |  |  |
| Interparfums, Inc. | 116403 | 10377327 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Fair <br> Value** | **Fair <br> Value** |
| **Professional Services 4.60%** |  |  |  |
| CACI International, Inc. Class A\* | 43294 | $| 24342051 |
| Genpact Ltd. | 401671 |  | 15323749 |
| Paylocity Holding Corp.\* | 72829 |  | 10288553 |
| *Total* |  |  | 49954353 |
| **Real Estate Management & Development 0.64%** | **Real Estate Management & Development 0.64%** | **Real Estate Management & Development 0.64%** | **Real Estate Management & Development 0.64%** |
| Marcus & Millichap, Inc. | 239621 |  | 6999329 |
| **Semiconductors & Semiconductor Equipment 4.36%** | **Semiconductors & Semiconductor Equipment 4.36%** | **Semiconductors & Semiconductor Equipment 4.36%** | **Semiconductors & Semiconductor Equipment 4.36%** |
| Nova Ltd. (Israel)\*<sup>(a)</sup> | 42985 |  | 14814351 |
| Silicon Motion Technology Corp. ADR | 331748 |  | 32547796 |
| *Total* |  |  | 47362147 |
| **Software 5.63%** |  |  |  |
| Commvault Systems, Inc.\* | 117972 |  | 16424062 |
| Descartes Systems Group, Inc. (Canada)\*<sup>(a)</sup> | 243720 |  | 21498541 |
| Docusign, Inc.\* | 176535 |  | 12911770 |
| Dolby Laboratories, Inc. Class A | 154515 |  | 10247435 |
| *Total* |  |  | 61081808 |
| **Specialty Retail 1.95%** |  |  |  |
| Dick's Sporting Goods, Inc. | 95353 |  | 21115922 |
| **Textiles, Apparel & Luxury Goods 1.45%** | **Textiles, Apparel & Luxury Goods 1.45%** |  |  |
| Ralph Lauren Corp. | 49408 |  | 15793761 |
| **Trading Companies & Distributors 1.80%** | **Trading Companies & Distributors 1.80%** |  |  |
| AerCap Holdings NV (Ireland)<sup>(a)</sup> | 149856 |  | 19517245 |
| *Total Common Stocks <br> (cost $839,299,961)* |  |  | 1084504649 |

---

46 *See Notes to Financial Statements*.

**Schedule of Investments (concluded)**

VALUE OPPORTUNITIES FUND *October 31, 2025*

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal <br> Amount** | **Fair <br> Value** |
| **SHORT-TERM INVESTMENTS 0.21%** |  |  |
| **Repurchase Agreements 0.13%** |  |  |
| Repurchase Agreement dated 10/31/2025, 3.500% due 11/3/2025 with Fixed Income Clearing Corp. collateralized by $1,125,700 of U.S. Treasury Inflation Indexed Note at 0.375% due 1/15/2027; value: $1,494,886; proceeds: $1,465,860 <br> (cost $1,465,432) | $1465432 | $1465432 |
| **Time Deposits 0.01%** |  |  |
| CitiBank N.A.<sup>(c)</sup> <br> (cost $79,796) | 79796 | 79796 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Fair<br> Value** |
| **Money Market Funds 0.07%** | | |
| Fidelity Government Portfolio<sup>(c)</sup> <br> (cost $718,162) | 718162 | $718162 |
| *Total Short-Term Investments* <br> (cost $2,263,390) |  | 2263390 |
| *Total Investments in Securities 100.14%* <br> (cost $841,563,351) |  | 1086768039 |
| *Other Assets and Liabilities – Net (0.14)%* |  | (1522864) |
| *Net Assets 100.00%* |  | $1085245175 |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt. |
| REITS | Real Estate Investment Trusts. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Foreign security traded in U.S. dollars. |
| <sup>(b)</sup> | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. |
| <sup>(c)</sup> | Security was purchased with the cash collateral from loaned securities. |

---

------

The following is a summary of the inputs used as of October 31, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $1084504649 | $– | $– | $1084504649 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements |  | 1465432 |  | 1465432 |
| &nbsp;&nbsp;&nbsp;Time Deposits |  | 79796 |  | 79796 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | 718162 | – | – | 718162 |
| Total | $1085222811 | $1545228 | $– | $1086768039 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

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

See Notes to Financial Statements. 47

**Statements of Assets and Liabilities**

*October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
|  | **Alpha<br> Strategy Fund** | **Focused<br> Growth Fund** | **Focused<br> Large Cap<br> Value Fund** |
| **ASSETS:** |  |  |  |
| Investments in securities, at cost | $266432 | $118124007 | $71360707 |
| Investments in Underlying Funds, at cost | 518597130 | – | – |
| Investments in securities, at fair value | $266432 | $174876298 | $83220108 |
| Investments in Underlying Funds, at fair value | 613247403 |  |  |
| Cash |  |  |  |
| Foreign cash, at value (cost $0, $0, $44,817, $49, $350, $162,374 and $0, respectively) |  |  | 44528 |
| Receivables: |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in Underlying Funds sold | 345785 |  |  |
| &nbsp;&nbsp;&nbsp;Capital shares sold | 89358 | 5261709 | 63079 |
| &nbsp;&nbsp;&nbsp;Interest and dividends | 26 | 796 | 89347 |
| &nbsp;&nbsp;&nbsp;From advisor (See Note 3) |  | 22414 | 24894 |
| &nbsp;&nbsp;&nbsp;Investment securities sold |  |  |  |
| Prepaid expenses and other assets | 4021 | 1203 | 1028 |
| &nbsp;&nbsp;&nbsp;Registration | 21273 | 24812 | 39256 |
| **Total assets** | 613974317 | 180187232 | 83482240 |
| **LIABILITIES:** |  |  |  |
| Payables: |  |  |  |
| &nbsp;&nbsp;&nbsp;Capital shares reacquired | 478053 | 14023 | 477 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | 110094 | 7941 | 46337 |
| &nbsp;&nbsp;&nbsp;12b-1 distribution plan | 79463 | 16605 | 6237 |
| &nbsp;&nbsp;&nbsp;Fund administration | 20936 | 5662 | 2575 |
| &nbsp;&nbsp;&nbsp;Investment securities purchased |  |  | 207576 |
| &nbsp;&nbsp;&nbsp;Management fee |  | 92007 | 37985 |
| Accrued expenses | 169014 | 32822 | 42908 |
| **Total liabilities** | 857560 | 169060 | 344095 |
| **Commitments and contingent liabilities** | – | – | – |
| **NET ASSETS** | $613116757 | $180018172 | $83138145 |
| **COMPOSITION OF NET ASSETS:** |  |  |  |
| Paid-in capital | $523573449 | $128817159 | $71027643 |
| Total distributable earnings/(loss) | 89543308 | 51201013 | 12110502 |
| **Net Assets** | $613116757 | $180018172 | $83138145 |

---

48 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **Focused<br> Small Cap<br> Value Fund** | **Fundamental<br> Equity Fund** | **Global<br> Equity Fund** | **Growth<br> Leaders Fund** |
| $75977511 | $1329040411 | $288500506 | $4579672663 |
| – | – | – | – |
| $86549632 | $2079821174 | $336360716 | $8354124078 |
| 49 | 346 | 162362 |  |
| 100826 | 868103 | 685278 | 3850793 |
| 192 | 1527991 | 246276 | 98653 |
| 5669 |  | 20136 | 32101 |
|  |  | 811178 |  |
| 2142 | 7999 | 13619 | 31167 |
| 24844 | 52197 | 46688 | 24266 |
| 86683354 | 2082277815 | 338346253 | 8358161058 |
| 98345 | 1071898 | 336213 | 4208840 |
| 16331 | 407988 | 4569 | 573679 |
| 4231 | 272835 | 10532 | 1114379 |
| 2981 | 70945 | 10952 | 276005 |
| 296859 |  | 1800497 | 12354840 |
| 59626 | 967502 | 123214 | 3535001 |
| 63606 | 372984 | 51044 | 1113919 |
| 541979 | 3164152 | 2337021 | 23176663 |
| – | – | – | – |
| $86141375 | $2079113663 | $336009232 | $8334984395 |
| $71823438 | $1173357215 | $293769154 | $4437662211 |
| 14317937 | 905756448 | 42240078 | 3897322184 |
| $86141375 | $2079113663 | $336009232 | $8334984395 |

---

*See Notes to Financial Statements.* 49

**Statements of Assets and Liabilities (continued)**

*October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
|  | **Alpha<br> Strategy Fund** | **Focused<br> Growth Fund** | **Focused<br> Large Cap<br> Value Fund** |
| **Net Assets by class:** |  |  |  |
| Class A Shares | $390465749 | $51177433 | $15807087 |
| Class C Shares | $8957130 | $7144171 | $3626606 |
| Class F Shares | $7994932 | $5830587 | $445827 |
| Class F3 Shares | $60385951 | $26621 | $14110 |
| Class I Shares | $119113016 | $101892015 | $60101533 |
| Class P Shares | $– | $– | $– |
| Class R2 Shares | $936555 | $– | $– |
| Class R3 Shares | $16249711 | $290939 | $200035 |
| Class R4 Shares | $4224570 | $29640 | $10085 |
| Class R5 Shares | $439944 | $59775 | $10342 |
| Class R6 Shares | $4349199 | $13566991 | $2922520 |
| **Outstanding shares by class (unlimited number of authorized shares of beneficial interest):** |  |  |  |
| Class A Shares | 13927108 | 1151526 | 1052378 |
| Class C Shares | 437889 | 169761 | 244943 |
| Class F Shares | 280865 | 128771 | 28933 |
| Class F3 Shares | 2047285 | 584 | 931 |
| Class I Shares | 4069595 | 2249365 | 3826019 |
| Class P Shares |  |  |  |
| Class R2 Shares | 35630 |  |  |
| Class R3 Shares | 610485 | 6663 | 13378 |
| Class R4 Shares | 151135 | 667 | 670 |
| Class R5 Shares | 15026 | 1320 | 683 |
| Class R6 Shares | 147403 | 297587 | 192580 |
| **Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):\*** |  |  |  |
| Class A Shares-Net asset value | $28.04 | $44.44 | $15.02 |
| Class A Shares-Maximum offering price (Net asset value plus sales charge of 5.75%, 5.75%, 5.75%, 5.75%, 5.75%, 5.75% and 5.75%, respectively) | $29.75 | $47.15 | $15.94 |
| Class C Shares-Net asset value | $20.46 | $42.08 | $14.81 |
| Class F Shares-Net asset value | $28.47 | $45.28 | $15.41 |
| Class F3 Shares-Net asset value | $29.50 | $45.59 | $15.16 |
| Class I Shares-Net asset value | $29.27 | $45.30 | $15.71 |
| Class P Shares-Net asset value | $&nbsp;&nbsp;&nbsp;&nbsp; – | $&nbsp;&nbsp;&nbsp;&nbsp; – | $&nbsp;&nbsp;&nbsp;&nbsp; – |
| Class R2 Shares-Net asset value | $26.29 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $&nbsp;&nbsp;&nbsp;&nbsp; – |
| Class R3 Shares-Net asset value | $26.62 | $43.66 | $14.95 |
| Class R4 Shares-Net asset value | $27.95 | $44.46 | $15.05 |
| Class R5 Shares-Net asset value | $29.28 | $45.28 | $15.14 |
| Class R6 Shares-Net asset value | $29.51 | $45.59 | $15.18 |

---

\* Net asset value may not recalculate due to rounding of fractional shares.

50 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **Focused<br> Small Cap<br> Value Fund** | **Fundamental<br> Equity Fund** | **Global<br> Equity Fund** | **Growth<br> Leaders Fund** |
| $10529580 | $1334235047 | $40595829 | $2838613618 |
| $1901610 | $21360324 | $2602526 | $574350627 |
| $2148181 | $28458134 | $388266 | $382875040 |
| $12314 | $32492306 | $45822318 | $641387724 |
| $67732046 | $575340270 | $240121918 | $3672858964 |
| $– | $3109674 | $– | $– |
| $– | $859090 | $– | $2634233 |
| $– | $64196132 | $883417 | $29964730 |
| $– | $4413849 | $23794 | $16746741 |
| $15082 | $1015711 | $23097 | $11893897 |
| $3802562 | $13633126 | $5548067 | $163658821 |
| 406437 | 78508838 | 2021348 | 48471135 |
| 70276 | 1496590 | 132081 | 11596168 |
| 74702 | 1700008 | 19284 | 6260040 |
| 429 | 1871445 | 2265919 | 10288515 |
| 2369704 | 33510044 | 11920107 | 59512698 |
|  | 188405 |  |  |
|  | 52268 |  | 47150 |
|  | 3884020 | 44389 | 534611 |
|  | 261529 | 1176 | 285839 |
| 528 | 59102 | 1146 | 192617 |
| 132520 | 784638 | 274309 | 2625336 |
| $25.91 | $16.99 | $20.08 | $58.56 |
| $27.49 | $18.03 | $21.31 | $62.13 |
| $27.06 | $14.27 | $19.70 | $49.53 |
| $28.76 | $16.74 | $20.13 | $61.16 |
| $28.69 | $17.36 | $20.22 | $62.34 |
| $28.58 | $17.17 | $20.14 | $61.72 |
| $&nbsp;&nbsp;&nbsp;&nbsp; – | $16.51 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $&nbsp;&nbsp;&nbsp;&nbsp; – |
| $&nbsp;&nbsp;&nbsp;&nbsp; – | $16.44 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $55.87 |
| $&nbsp;&nbsp;&nbsp;&nbsp; – | $16.53 | $19.90 | $56.05 |
| $&nbsp;&nbsp;&nbsp;&nbsp; – | $16.88 | $20.24 | $58.59 |
| $28.59 | $17.19 | $20.16 | $61.75 |
| $28.69 | $17.38 | $20.23 | $62.34 |

---

*See Notes to Financial Statements.* 51

**Statements of Assets and Liabilities (continued)**

*October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
|  | **Health Care<br> Fund** | **International<br> Equity Fund** | **International<br> Opportunities<br> Fund** |
| **ASSETS:** | | | |
| Investments in securities, at cost | $5721885 | $376222377 | $270369961 |
| Investments in securities, at fair value including $0, $2,923,550, $5,292,218, $0, $16,269,622 and $784,954, respectively, of securities loaned | $8427751 | $501654132 | $327073925 |
| Foreign cash, at value (cost $0, $1,307,203, $72,208, $110,808, $0 and $0, respectively) |  | 1301777 | 72213 |
| Receivables: |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment securities sold | 139349 | 825063 | 3039887 |
| &nbsp;&nbsp;&nbsp;From advisor (See Note 3) | 15817 |  |  |
| &nbsp;&nbsp;&nbsp;Interest and dividends | 3554 | 1074518 | 1096031 |
| &nbsp;&nbsp;&nbsp;Capital shares sold | 310 | 320070 | 184376 |
| &nbsp;&nbsp;&nbsp;Securities lending income | 128 | 1745 | 3585 |
| Prepaid expenses and other assets | 1119 | 9622 | 25737 |
| &nbsp;&nbsp;&nbsp;Registration | 38385 | 58722 | 26179 |
| **Total assets** | 8626413 | 505245649 | 331521933 |
| **LIABILITIES:** |  |  |  |
| Payables: |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment securities purchased | 129232 | 258591 | 7630853 |
| &nbsp;&nbsp;&nbsp;Management fee | 4307 | 187383 | 204713 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | 2647 | 75296 | 60861 |
| &nbsp;&nbsp;&nbsp;12b-1 distribution plan | 2091 | 45311 | 18375 |
| &nbsp;&nbsp;&nbsp;Fund administration | 278 | 16656 | 10918 |
| &nbsp;&nbsp;&nbsp;Capital shares reacquired |  | 278539 | 128323 |
| &nbsp;&nbsp;&nbsp;Collateral due to broker for securities lending |  | 3115981 | 5414749 |
| Foreign capital gains taxes deferred |  | 326559 |  |
| Foreign currency overdraft (cost $46, $0, $0, $0, $0 and $0, respectively) | 45 |  |  |
| Accrued expenses | 35868 | 102508 | 146655 |
| **Total liabilities** | 174468 | 4406824 | 13615447 |
| **Commitments and contingent liabilities** | – | – | – |
| **NET ASSETS** | $8451945 | $500838825 | $317906486 |
| **COMPOSITION OF NET ASSETS:** |  |  |  |
| Paid-in capital | $6761288 | $353241878 | $288821866 |
| Total distributable earnings/(loss) | 1690657 | 147596947 | 29084620 |
| **Net Assets** | $8451945 | $500838825 | $317906486 |

---

52 *See Notes to Financial Statements.*

---

| | | |
|:---|:---|:---|
| **International<br> Value Fund** | **Micro Cap<br> Growth Fund** | **Value<br> Opportunities<br> Fund** |
| $385121940 | $155120763 | $841563351 |
| $463877203 | $224879824 | $1086768039 |
| 110611 |  |  |
| 2221893 |  | 526660 |
|  | 438 |  |
| 2807159 | 300 | 115895 |
| 290230 | 21302 | 217058 |
|  | 16838 | 2700 |
| 9661 | 1343 | 43288 |
| – | 6629 | 104526 |
| 469316757 | 224926674 | 1087778166 |
| 488651 | 820012 |  |
| 197619 | 154395 | 703311 |
| 107535 | 22724 | 257663 |
| 52375 | 10418 | 82927 |
| 15810 | 6862 | 37763 |
| 119030 | 235576 | 351531 |
|  | 16614940 | 797958 |
| 160167 | 58359 | 301838 |
| 1141187 | 17923286 | 2532991 |
| – | – | – |
| $468175570 | $207003388 | $1085245175 |
| $744018579 | $179385557 | $783261717 |
| (275843009) | 27617831 | 301983458 |
| $468175570 | $207003388 | $1085245175 |

---

*See Notes to Financial Statements.* 53

**Statements of Assets and Liabilities (concluded)**

*October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
|  | **Health Care<br> Fund** | **International<br> Equity Fund** | **International<br> Opportunities<br> Fund** |
| **Net Assets by class:** |  |  |  |
| Class A Shares | $4495883 | $187898334 | $97815257 |
| Class C Shares | $1338132 | $1931018 | $2219849 |
| Class F Shares | $132332 | $7491548 | $2449186 |
| Class F3 Shares | $39773 | $60825950 | $32653612 |
| Class I Shares | $41980 | $226149759 | $152728207 |
| Class P Shares | $– | $15185 | $33788 |
| Class R2 Shares | $– | $307942 | $1731178 |
| Class R3 Shares | $133633 | $6842536 | $5165661 |
| Class R4 Shares | $14282 | $2645908 | $2731665 |
| Class R5 Shares | $14461 | $268536 | $2174580 |
| Class R6 Shares | $2241469 | $6462109 | $18203503 |
| **Outstanding shares by class (unlimited number of authorized shares of beneficial interest):** |  |  |  |
| Class A Shares | 209783 | 10201151 | 4479588 |
| Class C Shares | 65438 | 104584 | 110873 |
| Class F Shares | 6085 | 408060 | 113045 |
| Class F3 Shares | 1826 | 3239884 | 1430534 |
| Class I Shares | 1936 | 12099550 | 6750975 |
| Class P Shares |  | 822 | 1497 |
| Class R2 Shares |  | 16720 | 81012 |
| Class R3 Shares | 6341 | 378483 | 242087 |
| Class R4 Shares | 667 | 144600 | 125836 |
| Class R5 Shares | 667 | 14481 | 96163 |
| Class R6 Shares | 102839 | 344428 | 797431 |
| **Net Asset Value, offering and redemption price per share (Net assets divided by outstanding shares):\*** |  |  |  |
| Class A Shares-Net asset value | $21.43 | $18.42 | $21.84 |
| Class A Shares-Maximum offering price (Net asset value plus sales charge of 5.75%, 5.75%, 5.75%, 5.75%, 5.75% and 5.75%, respectively) | $22.74 | $19.54 | $23.17 |
| Class C Shares-Net asset value | $20.45 | $18.46 | $20.02 |
| Class F Shares-Net asset value | $21.75 | $18.36 | $21.67 |
| Class F3 Shares-Net asset value | $21.78 | $18.77 | $22.83 |
| Class I Shares-Net asset value | $21.69 | $18.69 | $22.62 |
| Class P Shares-Net asset value | $&nbsp;&nbsp;&nbsp;&nbsp; – | $18.47 | $22.57 |
| Class R2 Shares-Net asset value | $&nbsp;&nbsp;&nbsp;&nbsp; – | $18.42 | $21.37 |
| Class R3 Shares-Net asset value | $21.07 | $18.08 | $21.34 |
| Class R4 Shares-Net asset value | $21.42 | $18.30 | $21.71 |
| Class R5 Shares-Net asset value | $21.68 | $18.54 | $22.61 |
| Class R6 Shares-Net asset value | $21.80 | $18.76 | $22.83 |

---

\* Net asset value may not recalculate due to rounding of fractional shares.

54 *See Notes to Financial Statements.*

---

| | | |
|:---|:---|:---|
| **International<br> Value Fund** | **Micro Cap<br> Growth Fund** | **Value<br> Opportunities<br> Fund** |
| $240603091 | $27724488 | $530959544 |
| $2027741 | $5084633 | $10651520 |
| $5250223 | $5313155 | $20458996 |
| $45927270 | $– | $173968344 |
| $167048350 | $168881112 | $271804448 |
| $– | $– | $9004086 |
| $78174 | $– | $3005550 |
| $5364716 | $– | $22136653 |
| $177598 | $– | $25372511 |
| $15066 | $– | $1418621 |
| $1683341 | $– | $16464902 |
| 24382231 | 1370420 | 28588611 |
| 206833 | 213419 | 745259 |
| 527179 | 211714 | 1060448 |
| 4598631 |  | 8620788 |
| 16757316 | 6729850 | 13668135 |
|  |  | 504936 |
| 7706 |  | 176652 |
| 536717 |  | 1267784 |
| 18047 |  | 1368584 |
| 1518 |  | 71262 |
| 168531 |  | 816707 |
| $9.87 | $20.23 | $18.57 |
| $10.47 | $21.46 | $19.70 |
| $9.80 | $23.82 | $14.29 |
| $9.96 | $25.10 | $19.29 |
| $9.99 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $20.18 |
| $9.97 | $25.09 | $19.89 |
| $&nbsp;&nbsp;&nbsp;&nbsp; – | $&nbsp;&nbsp;&nbsp;&nbsp; – | $17.83 |
| $10.14 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $17.01 |
| $10.00 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $17.46 |
| $9.84 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $18.54 |
| $9.92 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $19.91 |
| $9.99 | $&nbsp;&nbsp;&nbsp;&nbsp; – | $20.16 |

---

*See Notes to Financial Statements.* 55

**Statements of Operations**

*For the Year Ended October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
|  | **Alpha<br> Strategy Fund** | **Focused<br> Growth Fund** | **Focused<br> Large Cap<br> Value Fund** |
| **Investment income:** |  |  |  |
| Dividends (net of foreign withholding taxes of $0, $0, $14,513, $13,281, $267,572, $177,920 and $103,773, respectively) | $– | $153284 | $600069 |
| Dividend income from Underlying Funds (See Note 10) | 3150325 |  |  |
| Securities lending net income |  | 37 |  |
| Interest and other | 11967 | 132751 | 28576 |
| **Total investment income** | 3162292 | 286072 | 628645 |
| **Expenses:** |  |  |  |
| Management fee | 597666 | 726613 | 245704 |
| 12b-1 distribution plan–Class A | 962253 | 97797 | 33070 |
| 12b-1 distribution plan–Class C | 97045 | 49145 | 23144 |
| 12b-1 distribution plan–Class F | 8118 | 5054 | 223 |
| 12b-1 distribution plan–Class P |  |  |  |
| 12b-1 distribution plan–Class R2 | 5319 |  |  |
| 12b-1 distribution plan–Class R3 | 79794 | 1266 | 869 |
| 12b-1 distribution plan–Class R4 | 9203 | 63 | 23 |
| Shareholder servicing | 535956 | 82888 | 33507 |
| Fund administration | 239067 | 44714 | 16658 |
| Registration | 134658 | 144161 | 120205 |
| Reports to shareholders | 57100 | 14826 | 14708 |
| Professional | 40013 | 41472 | 41416 |
| Trustees' fees | 28955 | 4647 | 31991 |
| Custody | 13124 | 8903 | 4078 |
| Other | 22767 | 22266 | 10502 |
| Gross expenses | 2831038 | 1243815 | 576098 |
| &nbsp;&nbsp;&nbsp;Fees waived and expenses reimbursed (See Note 3) | (610790) | (214003) | (223963) |
| **Net expenses** | 2220248 | 1029812 | 352135 |
| **Net investment income (loss)** | 942044 | (743740) | 276510 |
| **Net realized and unrealized gain/(loss):** |  |  |  |
| Capital gain distributions received from Underlying Funds | 21069166 |  |  |
| Net realized gain/(loss) on Investments in Underlying Funds | 12817943 |  |  |
| Net realized gain/(loss) on investments | 231 | 4310277 | 109246 |
| Net realized gain/(loss) on foreign currency related transactions |  |  | 1329 |
| Net change in unrealized appreciation/(depreciation) on Investments in Underlying Funds | 17809629 |  |  |
| Net change in unrealized appreciation/(depreciation) on investments |  | 34927398 | 4918888 |
| Net change in unrealized appreciation/(depreciation) on deferred foreign capital gains taxes |  |  |  |

---

56 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **Focused<br> Small Cap<br> Value Fund** | **Fundamental<br> Equity Fund** | **Global<br> Equity Fund** | **Growth<br> Leaders Fund** |
| $1207076 | $30849893 | $3197424 | $17246913 |
| 404 | 5 | 6902 | 6935 |
| 21251 | 895808 | 233813 | 5023947 |
| 1228731 | 31745706 | 3438139 | 22277795 |
| 743369 | 10800536 | 794699 | 36989631 |
| 29046 | 3231270 | 46277 | 6081299 |
| 23823 | 214839 | 9666 | 5240421 |
| 2155 | 25619 | 1311 | 343300 |
|  | 13731 |  |  |
|  | 6508 |  | 13553 |
|  | 320085 | 4336 | 125886 |
|  | 10878 | 51 | 39735 |
| 45230 | 1222246 | 149459 | 4634786 |
| 37168 | 788043 | 70640 | 2879170 |
| 92736 | 159123 | 188445 | 217455 |
| 26090 | 104593 | 18873 | 412755 |
| 43609 | 88814 | 54265 | 190102 |
| 4529 | 94623 | 6714 | 328661 |
| 8221 | 28744 | 77676 | 74709 |
| 21267 | 150006 | 23985 | 205990 |
| 1077243 | 17259658 | 1446397 | 57777453 |
| (69401) | (28744) | (268623) | (418009) |
| 1007842 | 17230914 | 1177774 | 57359444 |
| 220889 | 14514792 | 2260365 | (35081649) |
| 3944297 | 163421950 | (6398656) | 888312389 |
| (11067) | (10689) | (11902) |  |
| (4616243) | 81832354 | 40301248 | 1462665216 |
|  |  | (8477) |  |

---

*See Notes to Financial Statements.* 57

**Statements of Operations (continued)**

*For the Year Ended October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
|  | **Alpha<br> Strategy Fund** | **Focused<br> Growth Fund** | **Focused<br> Large Cap<br> Value Fund** |
| **Net realized and unrealized gain (loss):** |  |  |  |
| Net change in unrealized appreciation/(depreciation) on translation of assets and liabilities denominated in foreign currencies | – | – | 3017 |
| **Net realized and unrealized gain/(loss)** | 51696969 | 39237675 | 5032480 |
| **Net Increase (Decrease) in Net Assets Resulting From Operations** | $52639013 | $38493935 | $5308990 |

---

58 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **Focused<br> Small Cap<br> Value Fund** | **Fundamental<br> Equity Fund** | **Global<br> Equity Fund** | **Growth<br> Leaders Fund** |
| 4601 | 18006 | (4270) | – |
| (678412) | 245261621 | 33877943 | 2350977605 |
| $(457523) | $259776413 | $36138308 | $2315895956 |

---

*See Notes to Financial Statements.* 59

**Statements of Operations (concluded)**

*For the Year Ended October 31, 2025*

---

| | | | |
|:---|:---|:---|:---|
|  | **Health Care<br> Fund** | **International<br> Equity Fund** | **International<br> Opportunities<br> Fund** |
| **Investment income:** |  |  |  |
| Dividends (net of foreign withholding taxes of $1,616, $577,796, $897,122, $1,065,283, $0 and $64,709, respectively) | $38045 | $8600643 | $8246810 |
| Securities lending net income | 1048 | 5617 | 17386 |
| Interest and other | 4131 | 667120 | 792914 |
| **Total investment income** | 43224 | 9273380 | 9057110 |
| **Expenses:** |  |  |  |
| Management fee | 48721 | 1747585 | 2333012 |
| 12b-1 distribution plan–Class A | 10461 | 410234 | 233595 |
| 12b-1 distribution plan–Class C | 11965 | 14333 | 27581 |
| 12b-1 distribution plan–Class F | 158 | 5604 | 2516 |
| 12b-1 distribution plan–Class P |  | 61 | 135 |
| 12b-1 distribution plan–Class R2 |  | 1548 | 9818 |
| 12b-1 distribution plan–Class R3 | 514 | 30829 | 24965 |
| 12b-1 distribution plan–Class R4 | 32 | 5539 | 7105 |
| Registration | 119215 | 155578 | 142440 |
| Professional | 52492 | 117515 | 103732 |
| Shareholder servicing | 7989 | 268391 | 252580 |
| Custody | 7964 | 80406 | 106416 |
| Fund administration | 3143 | 155341 | 124427 |
| Reports to shareholders | 677 | 27018 | 33340 |
| Trustees' fees | 503 | 18064 | 15273 |
| Other | 12275 | 66629 | 81331 |
| Gross expenses | 276109 | 3104675 | 3498266 |
| &nbsp;&nbsp;&nbsp;Fees waived and expenses reimbursed (See Note 3) | (194646) | (80406) | (106416) |
| **Net expenses** | 81463 | 3024269 | 3391850 |
| **Net investment income (loss)** | (38239) | 6249111 | 5665260 |
| **Net realized and unrealized gain/(loss):** |  |  |  |
| Net realized gain/(loss) on investments | 284200 | 19975229 | 17178710 |
| Net realized gain/(loss) on foreign capital gains taxes |  | (281060) | (257043) |
| Net realized gain/(loss) on foreign currency related transactions | 773 | (62966) | 173757 |
| Net change in unrealized appreciation/(depreciation) on investments | 387362 | 60160370 | 26734055 |
| Net change in unrealized appreciation/(depreciation) on deferred foreign capital gains taxes |  | 91501 | 421924 |
| Net change in unrealized appreciation/(depreciation) on translation of assets and liabilities denominated in foreign currencies | (120) | 43579 | 47771 |
| **Net realized and unrealized gain/(loss)** | 672215 | 79926653 | 44299174 |
| **Net Increase (Decrease) in Net Assets Resulting From Operations** | $633976 | $86175764 | $49964434 |

---

60 *See Notes to Financial Statements.*

---

| | | |
|:---|:---|:---|
| **International<br> Value Fund** | **Micro Cap<br> Growth Fund** | **Value<br> Opportunities<br> Fund** |
| $16696579 | $369194 | $16309265 |
| 46173 | 79155 | 90374 |
| 833039 | 94838 | 225367 |
| 17575791 | 543187 | 16625006 |
| 2153313 | 1685990 | 8886635 |
| 557850 | 63430 | 1434911 |
| 17907 | 49163 | 155686 |
| 5023 | 5551 | 24731 |
|  |  | 44146 |
| 404 |  | 20127 |
| 26187 |  | 128175 |
| 432 |  | 66801 |
| 133182 | 60187 | 150457 |
| 103847 | 52260 | 74163 |
| 327367 | 160552 | 817174 |
| 88806 | 9634 | 63255 |
| 172265 | 74933 | 479236 |
| 38816 | 15958 | 98696 |
| 20685 | 8860 | 58229 |
| 68295 | 31604 | 134262 |
| 3714379 | 2218122 | 12636684 |
| (88806) | (15184) | (63255) |
| 3625573 | 2202938 | 12573429 |
| 13950218 | (1659751) | 4051577 |
| 55425398 | 21324771 | 64089270 |
| 195543 |  |  |
| 32068346 | 19428196 | (99070441) |
| 108392 | – | – |
| 87797679 | 40752967 | (34981171) |
| $101747897 | $39093216 | $(30929594) |

---

*See Notes to Financial Statements.* 61

**Statements of Changes in Net Assets**

---

| | | |
|:---|:---|:---|
|  | **Alpha Strategy Fund** | **Alpha Strategy Fund** |
| **INCREASE (DECREASE) IN NET ASSETS** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |
| Net investment income (loss) | $942044 | $618900 |
| Net realized gain/(loss) | 33887340 | 5248498 |
| Net change in unrealized appreciation/(depreciation) | 17809629 | 163579665 |
| **Net increase in net assets resulting from operations** | 52639013 | 169447063 |
| **Distributions to Shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Class A | (3187702) | (1840813) |
| &nbsp;&nbsp;&nbsp;Class C | (104263) | (80666) |
| &nbsp;&nbsp;&nbsp;Class F | (81994) | (55096) |
| &nbsp;&nbsp;&nbsp;Class F3 | (558404) | (377183) |
| &nbsp;&nbsp;&nbsp;Class I | (1176137) | (763095) |
| &nbsp;&nbsp;&nbsp;Class R2 | (6609) | (3691) |
| &nbsp;&nbsp;&nbsp;Class R3 | (123862) | (72161) |
| &nbsp;&nbsp;&nbsp;Class R4 | (28564) | (15592) |
| &nbsp;&nbsp;&nbsp;Class R5 | (3711) | (4359) |
| &nbsp;&nbsp;&nbsp;Class R6 | (44159) | (28035) |
| **Total distribution to shareholders** | (5315405) | (3240691) |
| **Capital share transactions (See Note 13):** |  |  |
| Net proceeds from sales of shares | 40058938 | 48578958 |
| Reinvestment of distributions | 4721996 | 2735361 |
| Cost of shares reacquired | (105709802) | (122453875) |
| **Net increase (decrease) in net assets resulting from capital share transactions** | (60928868) | (71139556) |
| **Net increase (decrease) in net assets** | (13605260) | 95066816 |
| **NET ASSETS:** |  |  |
| Beginning of year | $626722017 | $531655201 |
| **End of year** | $613116757 | $626722017 |

---

62 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **Focused Growth Fund** | **Focused Growth Fund** | **Focused Large Cap Value Fund** | **Focused Large Cap Value Fund** |
| **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| $(743740) | $(340633) | $276510 | $197799 |
| 4310277 | 2810723 | 110575 | 1631961 |
| 34927398 | 17342530 | 4921905 | 6051301 |
| 38493935 | 19812620 | 5308990 | 7881061 |
|  |  | (244257) |  |
|  |  | (27214) |  |
|  |  | (3812) |  |
|  |  | (281) |  |
|  |  | (345713) |  |
|  |  | (2676) |  |
|  |  | (180) |  |
|  |  | (203) |  |
| – | – | (51587) | – |
| – | – | (675923) | – |
| 129023148 | 39672890 | 54281919 | 10998942 |
|  |  | 627008 |  |
| (52078513) | (25926250) | (8288752) | (5998096) |
| 76944635 | 13746640 | 46620175 | 5000846 |
| 115438570 | 33559260 | 51253242 | 12881907 |
| $64579602 | $31020342 | $31884903 | $19002996 |
| $180018172 | $64579602 | $83138145 | $31884903 |

---

*See Notes to Financial Statements.* 63

**Statements of Changes in Net Assets (continued)**

---

| | | |
|:---|:---|:---|
|  | **Focused Small Cap Value Fund** | **Focused Small Cap Value Fund** |
| **INCREASE (DECREASE) IN NET ASSETS** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |
| Net investment income | $220889 | $199822 |
| Net realized gain/(loss) | 3933230 | 8079065 |
| Net change in unrealized appreciation/(depreciation) | (4611642) | 17302459 |
| **Net increase (decrease) in net assets resulting from operations** | (457523) | 25581346 |
| **Distributions to Shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Class A | (902663) | (1939) |
| &nbsp;&nbsp;&nbsp;Class C | (171335) |  |
| &nbsp;&nbsp;&nbsp;Class F | (136937) |  |
| &nbsp;&nbsp;&nbsp;Class F3 | (853) | (31) |
| &nbsp;&nbsp;&nbsp;Class I | (5039462) | (206076) |
| &nbsp;&nbsp;&nbsp;Class P |  |  |
| &nbsp;&nbsp;&nbsp;Class R2 |  |  |
| &nbsp;&nbsp;&nbsp;Class R3 |  |  |
| &nbsp;&nbsp;&nbsp;Class R4 |  |  |
| &nbsp;&nbsp;&nbsp;Class R5 | (1037) | (500) |
| &nbsp;&nbsp;&nbsp;Class R6 | (352265) | (29814) |
| **Total distribution to shareholders** | (6604552) | (238360) |
| **Capital share transactions (See Note 13):** |  |  |
| Net proceeds from sales of shares | 3538348 | 6014350 |
| Reinvestment of distributions | 6107198 | 220828 |
| Cost of shares reacquired | (16720147) | (31428471) |
| **Net increase (decrease) in net assets resulting from capital share transactions** | (7074601) | (25193293) |
| **Net increase (decrease) in net assets** | (14136676) | 149693 |
| **NET ASSETS:** |  |  |
| Beginning of year | $100278051 | $100128358 |
| **End of year** | $86141375 | $100278051 |

---

64 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **Fundamental Equity Fund** | **Fundamental Equity Fund** | **Global Equity Fund** | **Global Equity Fund** |
| **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| $14514792 | $16523537 | $2260365 | $335444 |
| 163411261 | 125405891 | (6410558) | (521247) |
| 81850360 | 408224898 | 40288501 | 6389129 |
| 259776413 | 550154326 | 36138308 | 6203326 |
| (85350973) | (9823704) | (32766) | (50993) |
| (1561810) | (36508) |  | (882) |
| (1738414) | (255312) | (7704) | (11456) |
| (1490781) | (209753) | (3267) | (171) |
| (33577759) | (6431967) | (411525) | (62390) |
| (201904) | (23325) |  |  |
| (133317) | (11293) |  |  |
| (4238696) | (386546) | (1335) | (4163) |
| (282392) | (23347) | (76) |  |
| (77635) | (9302) | (122) | (167) |
| (723146) | (89912) | (35282) | (44649) |
| (129376827) | (17300969) | (492077) | (174871) |
| 207541580 | 253668636 | 347534305 | 42737083 |
| 125201279 | 16789821 | 467028 | 139314 |
| (345529935) | (594464113) | (105480263) | (4968725) |
| (12787076) | (324005656) | 242521070 | 37907672 |
| 117612510 | 208847701 | 278167301 | 43936127 |
| $1961501153 | $1752653452 | $57841931 | $13905804 |
| $2079113663 | $1961501153 | $336009232 | $57841931 |

---

*See Notes to Financial Statements.* 65

**Statements of Changes in Net Assets (continued)**

---

| | | |
|:---|:---|:---|
|  | **Growth Leaders Fund** | **Growth Leaders Fund** |
| **INCREASE (DECREASE) IN NET ASSETS** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |
| Net investment income (loss) | $(35081649) | $(25201203) |
| Net realized gain/(loss) | 888312389 | 882176861 |
| Net change in unrealized appreciation/(depreciation) | 1462665216 | 1628892512 |
| **Net increase in net assets resulting from operations** | 2315895956 | 2485868170 |
| **Distributions to Shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Class A |  |  |
| &nbsp;&nbsp;&nbsp;Class C |  |  |
| &nbsp;&nbsp;&nbsp;Class F |  |  |
| &nbsp;&nbsp;&nbsp;Class F3 |  |  |
| &nbsp;&nbsp;&nbsp;Class I |  |  |
| &nbsp;&nbsp;&nbsp;Class P |  |  |
| &nbsp;&nbsp;&nbsp;Class R2 |  |  |
| &nbsp;&nbsp;&nbsp;Class R3 |  |  |
| &nbsp;&nbsp;&nbsp;Class R4 |  |  |
| &nbsp;&nbsp;&nbsp;Class R5 |  |  |
| &nbsp;&nbsp;&nbsp;Class R6 | – | – |
| **Total distribution to shareholders** | – | – |
| **Capital share transactions (See Note 13):** |  |  |
| Net proceeds from sales of shares | 1318764417 | 1079912969 |
| Reinvestment of distributions |  |  |
| Cost of shares reacquired | (1806110357) | (1876321339) |
| **Net increase (decrease) in net assets resulting from capital share transactions** | (487345940) | (796408370) |
| **Net increase (decrease) in net assets** | 1828550016 | 1689459800 |
| **NET ASSETS:** |  |  |
| Beginning of year | $6506434379 | $4816974579 |
| **End of year** | $8334984395 | $6506434379 |

---

66 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **Health Care Fund** | **Health Care Fund** | **International Equity Fund** | **International Equity Fund** |
| **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| $(38239) | $(43255) | $6249111 | $5028590 |
| 284973 | 4134 | 19631203 | 24521225 |
| 387242 | 2003022 | 60295450 | 47785458 |
| 633976 | 1963901 | 86175764 | 77335273 |
| (13824) |  | (6121012) | (2537347) |
|  |  | (38413) | (7268) |
| (839) |  | (179949) | (78590) |
| (200) |  | (887082) | (250220) |
| (238) |  | (5933310) | (2859273) |
|  |  | (480) | (174) |
|  |  | (8310) | (2720) |
| (196) |  | (218383) | (72590) |
| (41) |  | (90407) | (25256) |
| (73) |  | (7976) | (306) |
| (13574) | – | (190397) | (72278) |
| (28985) | – | (13675719) | (5906022) |
| 567617 | 1071301 | 150762104 | 25011795 |
| 14967 |  | 13402131 | 5799439 |
| (1300683) | (1433908) | (71263614) | (62231727) |
| (718099) | (362607) | 92900621 | (31420493) |
| (113108) | 1601294 | 165400666 | 40008758 |
| $8565053 | $6963759 | $335438159 | $295429401 |
| $8451945 | $8565053 | $500838825 | $335438159 |

---

*See Notes to Financial Statements.* 67

**Statements of Changes in Net Assets (continued)**

---

| | | |
|:---|:---|:---|
|  | **International Opportunities Fund** | **International Opportunities Fund** |
| **INCREASE (DECREASE) IN NET ASSETS** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |
| Net investment income (loss) | $5665260 | $6074888 |
| Net realized gain/(loss) | 17095424 | 3434337 |
| Net change in unrealized appreciation/(depreciation) | 27203750 | 50408463 |
| Net increase in net assets resulting from operations | 49964434 | 59917688 |
| **Distributions to Shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Class A | (1626078) | (1442866) |
| &nbsp;&nbsp;&nbsp;Class C | (31694) | (35902) |
| &nbsp;&nbsp;&nbsp;Class F | (50811) | (64775) |
| &nbsp;&nbsp;&nbsp;Class F3 | (596220) | (531450) |
| &nbsp;&nbsp;&nbsp;Class I | (3037357) | (2686582) |
| &nbsp;&nbsp;&nbsp;Class P | (424) | (164) |
| &nbsp;&nbsp;&nbsp;Class R2 | (23031) | (15677) |
| &nbsp;&nbsp;&nbsp;Class R3 | (74379) | (69218) |
| &nbsp;&nbsp;&nbsp;Class R4 | (49304) | (40234) |
| &nbsp;&nbsp;&nbsp;Class R5 | (41670) | (38823) |
| &nbsp;&nbsp;&nbsp;Class R6 | (338365) | (310118) |
| **Total distribution to shareholders** | (5869333) | (5235809) |
| **Capital share transactions (See Note13):** |  |  |
| Net proceeds from sales of shares | 26346211 | 28896541 |
| Reinvestment of distributions | 5703198 | 5076474 |
| Cost of shares reacquired | (69652059) | (68132041) |
| **Net decrease in net assets resulting from capital share transactions** | (37602650) | (34159026) |
| **Net increase in net assets** | 6492451 | 20522853 |
| **NET ASSETS:** |  |  |
| Beginning of year | $311414035 | $290891182 |
| **End of year** | $317906486 | $311414035 |

---

68 *See Notes to Financial Statements.*

---

| | | | |
|:---|:---|:---|:---|
| **International Value Fund** | **International Value Fund** | **Micro Cap Growth Fund** | **Micro Cap Growth Fund** |
| **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| $13950218 | $14203023 | $(1659751) | $(1889078) |
| 55620941 | 20289330 | 21324771 | 39116393 |
| 32176738 | 47013638 | 19428196 | 36891375 |
| 101747897 | 81505991 | 39093216 | 74118690 |
| (7010457) | (7618996) |  |  |
| (42660) | (71591) |  |  |
| (161901) | (193266) |  |  |
| (1325030) | (1244211) |  |  |
| (5157325) | (5698275) |  |  |
| (1846) | (1964) |  |  |
| (148337) | (186846) |  |  |
| (5182) | (5448) |  |  |
| (461) | (458) |  |  |
| (57766) | (65095) | – | – |
| (13910965) | (15086150) | – | – |
| 40658132 | 44376872 | 11635651 | 12309291 |
| 13725855 | 14846799 |  |  |
| (80523904) | (80043317) | (38414354) | (54668778) |
| (26139917) | (20819646) | (26778703) | (42359487) |
| 61697015 | 45600195 | 12314513 | 31759203 |
| $406478555 | $360878360 | $194688875 | $162929672 |
| $468175570 | $406478555 | $207003388 | $194688875 |

---

*See Notes to Financial Statements.* 69

**Statements of Changes in Net Assets (concluded)**

---

| | | |
|:---|:---|:---|
|  | **Value Opportunities Fund** | **Value Opportunities Fund** |
| **INCREASE (DECREASE) IN NET ASSETS** | **For the<br> Year Ended<br> October 31, 2025** | **For the<br> Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |
| Net investment income | $4051577 | $2256288 |
| Net realized gain/(loss) | 64089270 | 91149189 |
| Net change in unrealized appreciation/(depreciation) | (99070441) | 237637064 |
| **Net increase (decrease) in net assets resulting from operations** | (30929594) | 331042541 |
| **Distributions to Shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;Class A | (40165917) | (8879757) |
| &nbsp;&nbsp;&nbsp;Class C | (1786104) | (536071) |
| &nbsp;&nbsp;&nbsp;Class F | (1816615) | (458691) |
| &nbsp;&nbsp;&nbsp;Class F3 | (11928386) | (3105092) |
| &nbsp;&nbsp;&nbsp;Class I | (23910114) | (4090287) |
| &nbsp;&nbsp;&nbsp;Class P | (723745) | (167817) |
| &nbsp;&nbsp;&nbsp;Class R2 | (257567) | (63290) |
| &nbsp;&nbsp;&nbsp;Class R3 | (1995262) | (417247) |
| &nbsp;&nbsp;&nbsp;Class R4 | (1844696) | (433579) |
| &nbsp;&nbsp;&nbsp;Class R5 | (84583) | (18196) |
| &nbsp;&nbsp;&nbsp;Class R6 | (1526294) | (501099) |
| **Total distribution to shareholders** | (86039283) | (18671126) |
| **Capital share transactions (See Note 13):** |  |  |
| Net proceeds from sales of shares | 69927740 | 207160067 |
| Reinvestment of distributions | 84449905 | 18281241 |
| Cost of shares reacquired | (313729617) | (270070419) |
| **Net decrease in net assets resulting from capital share transactions** | (159351972) | (44629111) |
| **Net increase (decrease) in net assets** | (276320849) | 267742304 |
| **NET ASSETS:** |  |  |
| Beginning of year | $1361566024 | $1093823720 |
| **End of year** | $1085245175 | $1361566024 |

---

70 *See Notes to Financial Statements.*

This page is intentionally left blank.

**Financial Highlights**

ALPHA STRATEGY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br>**(loss)**<sup>(b)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $25.90 | $0.03 | $2.32 | $2.35 | $(0.03) | $(0.18) | $(0.21) |
| 10/31/2024 | 19.58 | 0.01 | 6.42 | 6.43 | (0.02) | (0.09) | (0.11) |
| 10/31/2023 | 21.82 | 0.06 | (0.89) | (0.83) | (0.07) | (1.34) | (1.41) |
| 10/31/2022 | 30.39 | 0.06 | (7.10) | (7.04) | (0.41) | (1.12) | (1.53) |
| 10/31/2021 | 22.60 | (0.02) | 9.90 | 9.88 | (0.36) | (1.73) | (2.09) |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.07 | (0.12) | 1.69 | 1.57 |  | (0.18) | (0.18) |
| 10/31/2024 | 14.53 | (0.11) | 4.74 | 4.63 |  | (0.09) | (0.09) |
| 10/31/2023 | 16.60 | (0.04) | (0.69) | (0.73) |  | (1.34) | (1.34) |
| 10/31/2022 | 23.47 | (0.08) | (5.45) | (5.53) | (0.22) | (1.12) | (1.34) |
| 10/31/2021 | 17.82 | (0.17) | 7.74 | 7.57 | (0.19) | (1.73) | (1.92) |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 26.30 | 0.07 | 2.35 | 2.42 | (0.07) | (0.18) | (0.25) |
| 10/31/2024 | 19.87 | 0.06 | 6.50 | 6.56 | (0.04) | (0.09) | (0.13) |
| 10/31/2023 | 22.09 | 0.16 | (0.97) | (0.81) | (0.07) | (1.34) | (1.41) |
| 10/31/2022 | 30.73 | 0.20 | (7.27) | (7.07) | (0.45) | (1.12) | (1.57) |
| 10/31/2021 | 22.82 | 0.03 | 10.01 | 10.04 | (0.40) | (1.73) | (2.13) |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 27.22 | 0.11 | 2.44 | 2.55 | (0.09) | (0.18) | (0.27) |
| 10/31/2024 | 20.56 | 0.10 | 6.73 | 6.83 | (0.08) | (0.09) | (0.17) |
| 10/31/2023 | 22.83 | 0.13 | (0.92) | (0.79) | (0.14) | (1.34) | (1.48) |
| 10/31/2022 | 31.70 | 0.14 | (7.40) | (7.26) | (0.49) | (1.12) | (1.61) |
| 10/31/2021 | 23.47 | 0.07 | 10.32 | 10.39 | (0.43) | (1.73) | (2.16) |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 27.03 | 0.09 | 2.42 | 2.51 | (0.09) | (0.18) | (0.27) |
| 10/31/2024 | 20.43 | 0.07 | 6.70 | 6.77 | (0.08) | (0.09) | (0.17) |
| 10/31/2023 | 22.71 | 0.11 | (0.92) | (0.81) | (0.13) | (1.34) | (1.47) |
| 10/31/2022 | 31.56 | 0.04 | (7.28) | (7.24) | (0.49) | (1.12) | (1.61) |
| 10/31/2021 | 23.39 | 0.05 | 10.27 | 10.32 | (0.42) | (1.73) | (2.15) |
| **Class R2** |  |  |  |  |  |  |  |
| 10/31/2025 | 24.36 | (0.07) | 2.18 | 2.11 |  | (0.18) | (0.18) |
| 10/31/2024 | 18.47 | (0.06) | 6.04 | 5.98 |  | (0.09) | (0.09) |
| 10/31/2023 | 20.66 | (0.02) | (0.83) | (0.85) | – <sup>(d)</sup> | (1.34) | (1.34) |
| 10/31/2022 | 28.80 | (0.02) | (6.73) | (6.75) | (0.27) | (1.12) | (1.39) |
| 10/31/2021 | 21.52 | (0.09) | 9.40 | 9.31 | (0.30) | (1.73) | (2.03) |

---

72 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:**<sup>(a)</sup> | **Ratios to Average Net Assets:**<sup>(a)</sup> | **Ratios to Average Net Assets:**<sup>(a)</sup> | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(c)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $28.04 | 9.13 | 0.44 | 0.54 | 0.10 | $390466 | 4 |
| 25.90 | 32.90 | 0.44 | 0.54 | 0.04 | 407896 | 1 |
| 19.58 | (3.99) | 0.43 | 0.54 | 0.29 | 342756 | 4 |
| 21.82 | (24.25) | 0.44 | 0.54 | 0.25 | 420589 | 8 |
| 30.39 | 45.31 | 0.41 | 0.52 | (0.06) | 542197 | 7 |
| 20.46 | 8.26 | 1.19 | 1.29 | (0.61) | 8957 | 4 |
| 19.07 | 31.93 | 1.19 | 1.29 | (0.62) | 11170 | 1 |
| 14.53 | (4.70) | 1.18 | 1.29 | (0.25) | 13823 | 4 |
| 16.60 | (24.81) | 1.19 | 1.29 | (0.40) | 30206 | 8 |
| 23.47 | 44.16 | 1.16 | 1.26 | (0.77) | 56365 | 7 |
| 28.47 | 9.27 | 0.29 | 0.39 | 0.27 | 7995 | 4 |
| 26.30 | 33.08 | 0.29 | 0.39 | 0.24 | 8846 | 1 |
| 19.87 | (3.85) | 0.28 | 0.39 | 0.75 | 9142 | 4 |
| 22.09 | (24.10) | 0.28 | 0.39 | 0.76 | 27275 | 8 |
| 30.73 | 45.53 | 0.26 | 0.37 | 0.09 | 144742 | 7 |
| 29.50 | 9.48 | 0.10 | 0.20 | 0.41 | 60386 | 4 |
| 27.22 | 33.32 | 0.10 | 0.20 | 0.38 | 56478 | 1 |
| 20.56 | (3.65) | 0.09 | 0.20 | 0.57 | 46724 | 4 |
| 22.83 | (23.98) | 0.09 | 0.19 | 0.57 | 50046 | 8 |
| 31.70 | 45.81 | 0.08 | 0.18 | 0.25 | 56369 | 7 |
| 29.27 | 9.39 | 0.19 | 0.29 | 0.34 | 119113 | 4 |
| 27.03 | 33.21 | 0.19 | 0.29 | 0.30 | 116058 | 1 |
| 20.43 | (3.74) | 0.18 | 0.29 | 0.47 | 95792 | 4 |
| 22.71 | (24.04) | 0.19 | 0.29 | 0.18 | 101366 | 8 |
| 31.56 | 45.64 | 0.16 | 0.27 | 0.18 | 43112 | 7 |
| 26.29 | 8.69 | 0.79 | 0.89 | (0.27) | 937 | 4 |
| 24.36 | 32.43 | 0.79 | 0.89 | (0.28) | 863 | 1 |
| 18.47 | (4.32) | 0.78 | 0.89 | (0.09) | 812 | 4 |
| 20.66 | (24.50) | 0.79 | 0.89 | (0.09) | 928 | 8 |
| 28.80 | 44.78 | 0.76 | 0.86 | (0.34) | 1433 | 7 |

---

*See Notes to Financial Statements.* 73

**Financial Highlights (continued)**

ALPHA STRATEGY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br>**(loss)**<sup>(b)</sup> | **Net<br>realized<br>and<br>unrealized <br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | $24.64 | $(0.04) | $2.20 | $2.16 | $– | $(0.18) | $(0.18) |
| 10/31/2024 | 18.66 | (0.04) | 6.11 | 6.07 |  | (0.09) | (0.09) |
| 10/31/2023 | 20.85 | – <sup>(d)</sup> | (0.84) | (0.84) | (0.01) | (1.34) | (1.35) |
| 10/31/2022 | 29.09 | 0.01 | (6.80) | (6.79) | (0.33) | (1.12) | (1.45) |
| 10/31/2021 | 21.70 | (0.08) | 9.50 | 9.42 | (0.30) | (1.73) | (2.03) |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | 25.82 | 0.02 | 2.31 | 2.33 | (0.02) | (0.18) | (0.20) |
| 10/31/2024 | 19.52 | – <sup>(d)</sup> | 6.40 | 6.40 | (0.01) | (0.09) | (0.10) |
| 10/31/2023 | 21.76 | 0.06 | (0.88) | (0.82) | (0.08) | (1.34) | (1.42) |
| 10/31/2022 | 30.30 | 0.05 | (7.06) | (7.01) | (0.41) | (1.12) | (1.53) |
| 10/31/2021 | 22.54 | (0.01) | 9.86 | 9.85 | (0.36) | (1.73) | (2.09) |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 27.04 | 0.08 | 2.43 | 2.51 | (0.09) | (0.18) | (0.27) |
| 10/31/2024 | 20.44 | 0.08 | 6.69 | 6.77 | (0.08) | (0.09) | (0.17) |
| 10/31/2023 | 22.72 | 0.09 | (0.90) | (0.81) | (0.13) | (1.34) | (1.47) |
| 10/31/2022 | 31.57 | 0.13 | (7.37) | (7.24) | (0.49) | (1.12) | (1.61) |
| 10/31/2021 | 23.40 | 0.10 | 10.22 | 10.32 | (0.42) | (1.73) | (2.15) |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 27.23 | 0.12 | 2.43 | 2.55 | (0.09) | (0.18) | (0.27) |
| 10/31/2024 | 20.56 | 0.09 | 6.75 | 6.84 | (0.08) | (0.09) | (0.17) |
| 10/31/2023 | 22.84 | 0.14 | (0.94) | (0.80) | (0.14) | (1.34) | (1.48) |
| 10/31/2022 | 31.71 | 0.16 | (7.42) | (7.26) | (0.49) | (1.12) | (1.61) |
| 10/31/2021 | 23.48 | 0.08 | 10.31 | 10.39 | (0.43) | (1.73) | (2.16) |

---

<sup>(a)</sup> Does not include expenses of the Underlying Funds in which the Fund invests.

<sup>(b)</sup> Calculated using average shares outstanding during the period.

<sup>(c)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(d)</sup> Amount is less than $0.01.

74 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:**<sup>(a)</sup> | **Ratios to Average Net Assets:**<sup>(a)</sup> | **Ratios to Average Net Assets:**<sup>(a)</sup> | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(c)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $26.62 | 8.83 | 0.69 | 0.79 | (0.14) | $16250 | 4 |
| 24.64 | 32.58 | 0.69 | 0.79 | (0.18) | 16802 | 1 |
| 18.66 | (4.24) | 0.68 | 0.79 | (0.02) | 15526 | 4 |
| 20.85 | (24.41) | 0.69 | 0.79 | 0.04 | 17366 | 8 |
| 29.09 | 44.95 | 0.66 | 0.76 | (0.30) | 25883 | 7 |
| 27.95 | 9.12 | 0.44 | 0.54 | 0.06 | 4225 | 4 |
| 25.82 | 32.87 | 0.44 | 0.54 | 0.02 | 3874 | 1 |
| 19.52 | (3.98) | 0.43 | 0.54 | 0.28 | 3150 | 4 |
| 21.76 | (24.23) | 0.44 | 0.54 | 0.21 | 3859 | 8 |
| 30.30 | 45.25 | 0.41 | 0.52 | (0.04) | 4621 | 7 |
| 29.28 | 9.38 | 0.19 | 0.29 | 0.30 | 440 | 4 |
| 27.04 | 33.20 | 0.19 | 0.29 | 0.33 | 364 | 1 |
| 20.44 | (3.74) | 0.18 | 0.29 | 0.38 | 551 | 4 |
| 22.72 | (24.04) | 0.19 | 0.29 | 0.53 | 376 | 8 |
| 31.57 | 45.65 | 0.16 | 0.27 | 0.33 | 518 | 7 |
| 29.51 | 9.47 | 0.10 | 0.20 | 0.44 | 4349 | 4 |
| 27.23 | 33.37 | 0.10 | 0.20 | 0.36 | 4370 | 1 |
| 20.56 | (3.69) | 0.09 | 0.20 | 0.61 | 3380 | 4 |
| 22.84 | (23.97) | 0.09 | 0.19 | 0.62 | 3762 | 8 |
| 31.71 | 45.79 | 0.08 | 0.18 | 0.28 | 5386 | 7 |

---

*See Notes to Financial Statements.* 75

**Financial Highlights (continued)**

FOCUSED GROWTH FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders<br>from:** | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**investment**<br>**income (loss)**<sup>(a)</sup> | **Net<br>realized and<br>unrealized<br>gain/(loss)** | **Total from<br>investment<br>operations** | **Net<br>realized<br>gain** |<br>**Net asset<br>value,<br>end of<br>period** |
| **Class A** |  |  |  |  |  |  |
| 10/31/2025 | $31.88 | $(0.30) | $12.86 | $12.56 | $– | $44.44 |
| 10/31/2024 | 20.48 | (0.21) | 11.61 | 11.40 |  | 31.88 |
| 10/31/2023 | 19.74 | (0.15) | 0.89 | 0.74 |  | 20.48 |
| 10/31/2022 | 36.16 | (0.17) | (11.38) | (11.55) | (4.87) | 19.74 |
| 10/31/2021 | 26.90 | (0.27) | 11.39 | 11.12 | (1.86) | 36.16 |
| **Class C** |  |  |  |  |  |  |
| 10/31/2025 | 30.42 | (0.56) | 12.22 | 11.66 |  | 42.08 |
| 10/31/2024 | 19.68 | (0.40) | 11.14 | 10.74 |  | 30.42 |
| 10/31/2023 | 19.12 | (0.29) | 0.85 | 0.56 |  | 19.68 |
| 10/31/2022 | 35.41 | (0.33) | (11.09) | (11.42) | (4.87) | 19.12 |
| 10/31/2021 | 26.56 | (0.50) | 11.21 | 10.71 | (1.86) | 35.41 |
| **Class F** |  |  |  |  |  |  |
| 10/31/2025 | 32.40 | (0.21) | 13.09 | 12.88 |  | 45.28 |
| 10/31/2024 | 20.76 | (0.14) | 11.78 | 11.64 |  | 32.40 |
| 10/31/2023 | 19.96 | (0.09) | 0.89 | 0.80 |  | 20.76 |
| 10/31/2022 | 36.44 | (0.12) | (11.49) | (11.61) | (4.87) | 19.96 |
| 10/31/2021 | 27.03 | (0.20) | 11.47 | 11.27 | (1.86) | 36.44 |
| **Class F3** |  |  |  |  |  |  |
| 10/31/2025 | 32.59 | (0.16) | 13.16 | 13.00 |  | 45.59 |
| 10/31/2024 | 20.85 | (0.10) | 11.84 | 11.74 |  | 32.59 |
| 10/31/2023 | 20.02 | (0.07) | 0.90 | 0.83 |  | 20.85 |
| 10/31/2022 | 36.51 | (0.10) | (11.52) | (11.62) | (4.87) | 20.02 |
| 10/31/2021 | 27.06 | (0.18) | 11.49 | 11.31 | (1.86) | 36.51 |
| **Class I** |  |  |  |  |  |  |
| 10/31/2025 | 32.41 | (0.21) | 13.10 | 12.89 |  | 45.30 |
| 10/31/2024 | 20.77 | (0.14) | 11.78 | 11.64 |  | 32.41 |
| 10/31/2023 | 19.96 | (0.09) | 0.90 | 0.81 |  | 20.77 |
| 10/31/2022 | 36.44 | (0.11) | (11.50) | (11.61) | (4.87) | 19.96 |
| 10/31/2021 | 27.03 | (0.20) | 11.47 | 11.27 | (1.86) | 36.44 |
| **Class R3** |  |  |  |  |  |  |
| 10/31/2025 | 31.40 | (0.39) | 12.65 | 12.26 |  | 43.66 |
| 10/31/2024 | 20.22 | (0.27) | 11.45 | 11.18 |  | 31.40 |
| 10/31/2023 | 19.53 | (0.21) | 0.90 | 0.69 |  | 20.22 |
| 10/31/2022 | 35.92 | (0.23) | (11.29) | (11.52) | (4.87) | 19.53 |
| 10/31/2021 | 26.79 | (0.35) | 11.34 | 10.99 | (1.86) | 35.92 |

---

76 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 39.40 | 1.05 | 1.24 | (0.80) | $51177 | 84 |
| 55.66 | 1.05 | 1.45 | (0.75) | 26783 | 122 |
| 3.75 | 1.05 | 1.70 | (0.71) | 15986 | 169 |
| (36.92) | 1.05 | 1.54 | (0.71) | 14420 | 169 |
| 43.48 | 1.05 | 1.49 | (0.87) | 18332 | 166 |
| 38.33 | 1.80 | 1.98 | (1.54) | 7144 | 84 |
| 54.57 | 1.80 | 2.20 | (1.50) | 3368 | 122 |
| 2.93 | 1.80 | 2.45 | (1.46) | 2214 | 169 |
| (37.40) | 1.80 | 2.30 | (1.46) | 2289 | 169 |
| 42.43 | 1.80 | 2.24 | (1.62) | 2701 | 166 |
| 39.75 | 0.80 | 1.09 | (0.55) | 5831 | 84 |
| 56.07 | 0.80 | 1.31 | (0.50) | 4225 | 122 |
| 4.01 | 0.80 | 1.55 | (0.43) | 3536 | 169 |
| (36.79) | 0.80 | 1.37 | (0.47) | 7021 | 169 |
| 43.85 | 0.80 | 1.34 | (0.63) | 18621 | 166 |
| 39.89 | 0.68 | 0.92 | (0.42) | 27 | 84 |
| 56.31 | 0.65 | 1.32 | (0.39) | 19 | 122 |
| 4.15 | 0.68 | 1.29 | (0.34) | 499 | 169 |
| (36.74) | 0.73 | 1.15 | (0.40) | 667 | 169 |
| 43.95 | 0.75 | 1.16 | (0.57) | 1217 | 166 |
| 39.77 | 0.80 | 0.97 | (0.54) | 101892 | 84 |
| 56.04 | 0.80 | 1.16 | (0.49) | 21488 | 122 |
| 4.06 | 0.80 | 1.44 | (0.47) | 4122 | 169 |
| (36.79) | 0.80 | 1.30 | (0.47) | 4595 | 169 |
| 43.90 | 0.80 | 1.24 | (0.62) | 4587 | 166 |
| 39.01 | 1.30 | 1.49 | (1.05) | 291 | 84 |
| 55.29 | 1.30 | 1.70 | (1.00) | 259 | 122 |
| 3.53 | 1.28 | 1.95 | (1.01) | 155 | 169 |
| (37.11) | 1.30 | 1.81 | (0.97) | 14 | 169 |
| 43.15 | 1.30 | 1.73 | (1.11) | 24 | 166 |

---

*See Notes to Financial Statements.* 77

**Financial Highlights (continued)**

FOCUSED GROWTH FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders<br>from:** | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**investment**<br>**income (loss)**<sup>(a)</sup> | **Net<br>realized and<br>unrealized<br>gain/(loss)** | **Total from<br>investment<br>operations** | **Net<br>realized<br>gain** | <br>**Net asset<br>value,<br>end of<br>period** |
| **Class R4** |  |  |  |  |  |  |
| 10/31/2025 | $31.90 | $(0.30) | $12.86 | $12.56 | $– | $44.46 |
| 10/31/2024 | 20.49 | (0.21) | 11.62 | 11.41 |  | 31.90 |
| 10/31/2023 | 19.75 | (0.14) | 0.88 | 0.74 |  | 20.49 |
| 10/31/2022 | 36.18 | (0.17) | (11.39) | (11.56) | (4.87) | 19.75 |
| 10/31/2021 | 26.91 | (0.27) | 11.40 | 11.13 | (1.86) | 36.18 |
| **Class R5** |  |  |  |  |  |  |
| 10/31/2025 | 32.41 | (0.21) | 13.08 | 12.87 |  | 45.28 |
| 10/31/2024 | 20.76 | (0.14) | 11.79 | 11.65 |  | 32.41 |
| 10/31/2023 | 19.96 | (0.09) | 0.89 | 0.80 |  | 20.76 |
| 10/31/2022 | 36.44 | (0.12) | (11.49) | (11.61) | (4.87) | 19.96 |
| 10/31/2021 | 27.02 | (0.20) | 11.48 | 11.28 | (1.86) | 36.44 |
| **Class R6** |  |  |  |  |  |  |
| 10/31/2025 | 32.59 | (0.17) | 13.17 | 13.00 |  | 45.59 |
| 10/31/2024 | 20.85 | (0.10) | 11.84 | 11.74 |  | 32.59 |
| 10/31/2023 | 20.02 | (0.07) | 0.90 | 0.83 |  | 20.85 |
| 10/31/2022 | 36.51 | (0.09) | (11.53) | (11.62) | (4.87) | 20.02 |
| 10/31/2021 | 27.06 | (0.18) | 11.49 | 11.31 | (1.86) | 36.51 |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

78 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 39.37 | 1.05 | 1.25 | (0.81) | $30 | 84 |
| 55.69 | 1.05 | 1.45 | (0.75) | 21 | 122 |
| 3.75 | 1.05 | 1.70 | (0.70) | 14 | 169 |
| (36.93) | 1.05 | 1.54 | (0.71) | 13 | 169 |
| 43.50 | 1.05 | 1.48 | (0.86) | 24 | 166 |
| 39.75 | 0.80 | 0.99 | (0.55) | 60 | 84 |
| 56.07 | 0.80 | 1.20 | (0.50) | 31 | 122 |
| 4.01 | 0.80 | 1.44 | (0.45) | 14 | 169 |
| (36.79) | 0.80 | 1.31 | (0.48) | 13 | 169 |
| 43.90 | 0.80 | 1.25 | (0.63) | 24 | 166 |
| 39.89 | 0.68 | 0.92 | (0.43) | 13567 | 84 |
| 56.31 | 0.65 | 1.11 | (0.36) | 8385 | 122 |
| 4.15 | 0.68 | 1.30 | (0.34) | 4481 | 169 |
| (36.74) | 0.73 | 1.16 | (0.39) | 4740 | 169 |
| 43.95 | 0.75 | 1.16 | (0.57) | 6788 | 166 |

---

*See Notes to Financial Statements.* 79

**Financial Highlights (continued)**

FOCUSED LARGE CAP VALUE FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**investment**<br>**income**<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Return<br>of<br>capital** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $13.35 | $0.08 | $1.86 | $1.94 | $(0.09) | $(0.18) | $– |
| 10/31/2024 | 9.58 | 0.09 | 3.68 | 3.77 |  |  |  |
| 10/31/2023 | 13.58 | 0.08 | 0.17 <sup>(c)</sup> | 0.25 | (1.42) |  | (2.83) |
| 10/31/2022 | 19.04 | 0.16 | (1.34) | (1.18) | (0.35) | (3.93) |  |
| 10/31/2021 | 12.95 | 0.38 | 6.68 | 7.06 | (0.16) | (0.81) |  |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.17 | (0.03) | 1.85 | 1.82 |  | (0.18) |  |
| 10/31/2024 | 9.52 | 0.01 | 3.64 | 3.65 |  |  |  |
| 10/31/2023 | 13.49 | 0.02 | 0.15 <sup>(c)</sup> | 0.17 | (1.31) |  | (2.83) |
| 10/31/2022 | 18.97 | 0.06 | (1.35) | (1.29) | (0.26) | (3.93) |  |
| 10/31/2021 | 12.87 | 0.25 | 6.66 | 6.91 |  | (0.81) |  |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.67 | 0.11 | 1.92 | 2.03 | (0.11) | (0.18) |  |
| 10/31/2024 | 9.78 | 0.13 | 3.76 | 3.89 |  |  |  |
| 10/31/2023 | 13.77 | 0.14 | 0.14 <sup>(c)</sup> | 0.28 | (1.44) |  | (2.83) |
| 10/31/2022 | 19.22 | 0.20 | (1.36) | (1.16) | (0.36) | (3.93) |  |
| 10/31/2021 | 12.98 | 0.49 | 6.64 | 7.13 | (0.08) | (0.81) |  |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.46 | 0.12 | 1.88 | 2.00 | (0.12) | (0.18) |  |
| 10/31/2024 | 9.63 | 0.12 | 3.71 | 3.83 |  |  |  |
| 10/31/2023 | 13.64 | 0.11 | 0.16 <sup>(c)</sup> | 0.27 | (1.45) |  | (2.83) |
| 10/31/2022 | 19.10 | 0.20 | (1.35) | (1.15) | (0.38) | (3.93) |  |
| 10/31/2021 | 12.98 | 0.37 | 6.75 | 7.12 | (0.19) | (0.81) |  |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.94 | 0.11 | 1.96 | 2.07 | (0.12) | (0.18) |  |
| 10/31/2024 | 9.98 | 0.12 | 3.84 | 3.96 |  |  |  |
| 10/31/2023 | 13.63 | 0.09 | 0.18 <sup>(c)</sup> | 0.27 | (1.09) |  | (2.83) |
| 10/31/2022 | 19.10 | 0.22 | (1.38) | (1.16) | (0.38) | (3.93) |  |
| 10/31/2021 | 12.99 | 0.35 | 6.76 | 7.11 | (0.19) | (0.81) |  |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.28 | 0.05 | 1.85 | 1.90 | (0.05) | (0.18) |  |
| 10/31/2024 | 9.56 | 0.06 | 3.66 | 3.72 |  |  |  |
| 10/31/2023 | 13.56 | 0.05 | 0.18 <sup>(c)</sup> | 0.23 | (1.40) |  | (2.83) |
| 10/31/2022 | 18.99 | 0.12 | (1.33) | (1.21) | (0.29) | (3.93) |  |
| 10/31/2021 | 12.92 | 0.29 | 6.71 | 7.00 | (0.12) | (0.81) |  |

---

80 *See Notes to Financial Statements.*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total<br>distri-<br>butions** |<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets, <br>end of <br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $(0.27) | $15.02 | 14.72 | 0.96 | 1.51 | 0.60 | $15807 | 39 |
|  | 13.35 | 39.35 | 0.96 | 1.64 | 0.76 | 12028 | 58 |
| (4.25) | 9.58 | 0.59 | 0.96 | 1.92 | 0.84 | 9821 | 61 |
| (4.28) | 13.58 | (8.69) | 0.96 | 1.04 | 1.12 | 11466 | 100 |
| (0.97) | 19.04 | 56.50 | 0.93 | 0.93 | 2.08 | 7714 | 99 |
| (0.18) | 14.81 | 13.86 | 1.71 | 2.26 | (0.19) | 3627 | 39 |
|  | 13.17 | 38.34 | 1.71 | 2.39 | 0.04 | 1961 | 58 |
| (4.14) | 9.52 | (0.21) | 1.71 | 2.71 | 0.20 | 2618 | 61 |
| (4.19) | 13.49 | (9.37) | 1.71 | 1.77 | 0.40 | 4637 | 100 |
| (0.81) | 18.97 | 55.29 | 1.67 | 1.67 | 1.36 | 3601 | 99 |
| (0.29) | 15.41 | 15.02 | 0.71 | 1.34 | 0.78 | 446 | 39 |
|  | 13.67 | 39.78 | 0.71 | 1.50 | 1.03 | 181 | 58 |
| (4.27) | 9.78 | 0.81 | 0.71 | 1.95 | 1.34 | 194 | 61 |
| (4.29) | 13.77 | (8.48) | 0.71 | 0.86 | 1.35 | 1405 | 100 |
| (0.89) | 19.22 | 56.78 | 0.68 | 0.78 | 2.60 | 2394 | 99 |
| (0.30) | 15.16 | 15.07 | 0.69 | 1.21 | 0.86 | 14 | 39 |
|  | 13.46 | 39.77 | 0.67 | 1.38 | 1.03 | 13 | 58 |
| (4.28) | 9.63 | 0.82 | 0.71 | 1.61 | 1.13 | 9 | 61 |
| (4.31) | 13.64 | (8.48) | 0.70 | 0.76 | 1.37 | 13 | 100 |
| (1.00) | 19.10 | 56.91 | 0.67 | 0.67 | 2.13 | 18 | 99 |
| (0.30) | 15.71 | 15.06 | 0.71 | 1.23 | 0.76 | 60102 | 39 |
|  | 13.94 | 39.68 | 0.71 | 1.37 | 0.93 | 15230 | 58 |
| (3.92) | 9.98 | 0.89 | 0.71 | 1.56 | 0.92 | 4982 | 61 |
| (4.31) | 13.63 | (8.55) | 0.69 | 0.69 | 1.49 | 243 | 100 |
| (1.00) | 19.10 | 56.79 | 0.68 | 0.68 | 1.99 | 656899 | 99 |
| (0.23) | 14.95 | 14.44 | 1.21 | 1.76 | 0.34 | 200 | 39 |
|  | 13.28 | 38.91 | 1.21 | 1.89 | 0.52 | 154 | 58 |
| (4.23) | 9.56 | 0.40 | 1.21 | 2.11 | 0.52 | 143 | 61 |
| (4.22) | 13.56 | (8.88) | 1.21 | 1.32 | 0.86 | 84 | 100 |
| (0.93) | 18.99 | 56.09 | 1.15 | 1.15 | 1.65 | 13 | 99 |

---

*See Notes to Financial Statements.* 81

**Financial Highlights (continued)**

FOCUSED LARGE CAP VALUE FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**investment**<br>**income**<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Return<br>of<br>capital** |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | $13.37 | $0.08 | $1.87 | $1.95 | $(0.09) | $(0.18) | $– |
| 10/31/2024 | 9.60 | 0.09 | 3.68 | 3.77 |  |  |  |
| 10/31/2023 | 13.59 | 0.09 | 0.17 <sup>(c)</sup> | 0.26 | (1.42) |  | (2.83) |
| 10/31/2022 | 19.04 | 0.16 | (1.35) | (1.19) | (0.33) | (3.93) |  |
| 10/31/2021 | 12.95 | 0.33 | 6.73 | 7.06 | (0.16) | (0.81) |  |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.45 | 0.12 | 1.87 | 1.99 | (0.12) | (0.18) |  |
| 10/31/2024 | 9.63 | 0.12 | 3.70 | 3.82 |  |  |  |
| 10/31/2023 | 13.63 | 0.12 | 0.16 <sup>(c)</sup> | 0.28 | (1.45) |  | (2.83) |
| 10/31/2022 | 19.09 | 0.20 | (1.35) | (1.15) | (0.38) | (3.93) |  |
| 10/31/2021 | 12.98 | 0.38 | 6.73 | 7.11 | (0.19) | (0.81) |  |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.48 | 0.12 | 1.88 | 2.00 | (0.12) | (0.18) |  |
| 10/31/2024 | 9.64 | 0.12 | 3.72 | 3.84 |  |  |  |
| 10/31/2023 | 13.65 | 0.11 | 0.16 <sup>(c)</sup> | 0.27 | (1.45) |  | (2.83) |
| 10/31/2022 | 19.11 | 0.20 | (1.35) | (1.15) | (0.38) | (3.93) |  |
| 10/31/2021 | 12.99 | 0.39 | 6.73 | 7.12 | (0.19) | (0.81) |  |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Realized and unrealized gain/(loss) per share does not correlate to the aggregate of the net realized and unrealized gain/(loss) in the Statement of Operations, primarily due to the timing of the sales and repurchases of the Fund's shares in relation to fluctuating market values of the Fund's portfolio.

82 *See Notes to Financial Statements.*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total<br>distri-<br>butions** |<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets, <br>end of <br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $(0.27) | $15.05 | 14.76 | 0.96 | 1.52 | 0.59 | $10 | 39 |
|  | 13.37 | 39.27 | 0.96 | 1.62 | 0.77 | 9 | 58 |
| (4.25) | 9.60 | 0.67 | 0.96 | 1.90 | 0.91 | 6 | 61 |
| (4.26) | 13.59 | (8.73) | 0.96 | 1.00 | 1.10 | 9 | 100 |
| (0.97) | 19.04 | 56.46 | 0.90 | 0.90 | 1.89 | 13 | 99 |
| (0.30) | 15.14 | 15.01 | 0.71 | 1.27 | 0.84 | 10 | 39 |
|  | 13.45 | 39.67 | 0.71 | 1.42 | 0.96 | 9 | 58 |
| (4.28) | 9.63 | 0.91 | 0.71 | 1.66 | 1.15 | 6 | 61 |
| (4.31) | 13.63 | (8.49) | 0.71 | 0.75 | 1.37 | 9 | 100 |
| (1.00) | 19.09 | 56.83 | 0.65 | 0.65 | 2.14 | 13 | 99 |
| (0.30) | 15.18 | 14.98 | 0.68 | 1.20 | 0.85 | 2923 | 39 |
|  | 13.48 | 39.83 | 0.67 | 1.36 | 1.02 | 2299 | 58 |
| (4.28) | 9.64 | 0.82 | 0.71 | 1.62 | 1.07 | 1223 | 61 |
| (4.31) | 13.65 | (8.48) | 0.70 | 0.77 | 1.36 | 1347 | 100 |
| (1.00) | 19.11 | 56.86 | 0.68 | 0.68 | 2.17 | 1539 | 99 |

---

*See Notes to Financial Statements.* 83

**Financial Highlights (continued)**

FOCUSED SMALL CAP VALUE FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $27.88 | $0.01 | $0.01 <sup>(c)</sup> | $0.02 | $– | $(1.99) | $(1.99) |
| 10/31/2024 | 21.93 | – <sup>(d)</sup> | 5.95 | 5.95 | – <sup>(d)</sup> |  | – <sup>(d)</sup> |
| 10/31/2023 | 23.97 | 0.07 | (1.17) | (1.10) | (0.10) | (0.84) | (0.94) |
| 10/31/2022 | 30.62 | 0.05 | (3.54) | (3.49) |  | (3.16) | (3.16) |
| 10/31/2021 | 18.77 | 0.01 | 12.00 | 12.01 | (0.16) |  | (0.16) |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 29.25 | (0.19) | (0.01) | (0.20) |  | (1.99) | (1.99) |
| 10/31/2024 | 23.17 | (0.21) | 6.29 | 6.08 |  |  |  |
| 10/31/2023 | 25.36 | (0.11) | (1.24) | (1.35) |  | (0.84) | (0.84) |
| 10/31/2022 | 32.44 | (0.15) | (3.77) | (3.92) |  | (3.16) | (3.16) |
| 10/31/2021 | 19.99 | (0.30) | 12.87 | 12.57 | (0.12) |  | (0.12) |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 30.68 | 0.08 | (0.01) | 0.07 |  | (1.99) | (1.99) |
| 10/31/2024 | 24.06 | 0.07 | 6.55 | 6.62 |  |  |  |
| 10/31/2023 | 26.17 | 0.18 | (1.33) | (1.15) | (0.12) | (0.84) | (0.96) |
| 10/31/2022 | 33.11 | 0.12 | (3.86) | (3.74) | (0.04) | (3.16) | (3.20) |
| 10/31/2021 | 20.30 | 0.01 | 13.04 | 13.05 | (0.24) |  | (0.24) |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 30.60 | 0.10 | (0.02) | 0.08 |  | (1.99) | (1.99) |
| 10/31/2024 | 24.06 | 0.08 | 6.53 | 6.61 | (0.07) |  | (0.07) |
| 10/31/2023 | 26.20 | 0.15 | (1.28) | (1.13) | (0.17) | (0.84) | (1.01) |
| 10/31/2022 | 33.15 | 0.14 | (3.86) | (3.72) | (0.07) | (3.16) | (3.23) |
| 10/31/2021 | 20.32 | 0.11 | 12.97 | 13.08 | (0.25) |  | (0.25) |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 30.50 | 0.08 | (0.01) | 0.07 |  | (1.99) | (1.99) |
| 10/31/2024 | 23.99 | 0.07 | 6.51 | 6.58 | (0.07) |  | (0.07) |
| 10/31/2023 | 26.14 | 0.14 | (1.28) | (1.14) | (0.17) | (0.84) | (1.01) |
| 10/31/2022 | 33.10 | 0.12 | (3.85) | (3.73) | (0.07) | (3.16) | (3.23) |
| 10/31/2021 | 20.30 | 0.11 | 12.94 | 13.05 | (0.25) |  | (0.25) |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 30.51 | 0.08 | (0.01) | 0.07 |  | (1.99) | (1.99) |
| 10/31/2024 | 24.00 | 0.09 | 6.49 | 6.58 | (0.07) |  | (0.07) |
| 10/31/2023 | 26.15 | 0.14 | (1.28) | (1.14) | (0.17) | (0.84) | (1.01) |
| 10/31/2022 | 33.10 | 0.18 | (3.90) | (3.72) | (0.07) | (3.16) | (3.23) |
| 10/31/2021 | 20.29 | 0.10 | 12.96 | 13.06 | (0.25) |  | (0.25) |

---

84 See Notes to Financial Statements.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net<br>assets, <br>end of <br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $25.91 | (0.70) | 1.28 | 1.35 | 0.04 | $10530 | 77 |
| 27.88 | 27.15 | 1.28 | 1.35 | (0.02) | 12718 | 57 |
| 21.93 | (4.90) | 1.28 | 1.33 | 0.30 | 11487 | 54 |
| 23.97 | (12.99) | 1.28 | 1.29 | 0.20 | 16026 | 63 |
| 30.62 | 64.27 | 1.22 | 1.22 | 0.03 | 19525 | 116 |
| 27.06 | (1.46) | 2.03 | 2.10 | (0.70) | 1902 | 77 |
| 29.25 | 26.24 | 2.03 | 2.10 | (0.77) | 2489 | 57 |
| 23.17 | (5.64) | 2.03 | 2.08 | (0.45) | 2499 | 54 |
| 25.36 | (13.61) | 2.03 | 2.04 | (0.56) | 3624 | 63 |
| 32.44 | 63.10 | 1.96 | 1.96 | (0.95) | 5028 | 116 |
| 28.76 | (0.46) | 1.03 | 1.20 | 0.29 | 2148 | 77 |
| 30.68 | 27.51 | 1.03 | 1.20 | 0.24 | 2130 | 57 |
| 24.06 | (4.68) | 1.03 | 1.18 | 0.69 | 4246 | 54 |
| 26.17 | (12.77) | 1.03 | 1.13 | 0.41 | 21683 | 63 |
| 33.11 | 64.73 | 0.97 | 1.07 | 0.04 | 66993 | 116 |
| 28.69 | (0.43) | 0.98 | 1.04 | 0.34 | 12 | 77 |
| 30.60 | 27.54 | 0.98 | 1.05 | 0.28 | 13 | 57 |
| 24.06 | (4.60) | 0.97 | 1.01 | 0.57 | 10 | 54 |
| 26.20 | (12.70) | 0.95 | 0.95 | 0.51 | 11 | 63 |
| 33.15 | 64.72 | 0.92 | 0.92 | 0.35 | 14 | 116 |
| 28.58 | (0.47) | 1.03 | 1.10 | 0.29 | 67732 | 77 |
| 30.50 | 27.48 | 1.03 | 1.10 | 0.24 | 77474 | 57 |
| 23.99 | (4.66) | 1.03 | 1.08 | 0.52 | 71703 | 54 |
| 26.14 | (12.76) | 1.03 | 1.03 | 0.41 | 82062 | 63 |
| 33.10 | 64.71 | 0.95 | 0.96 | 0.35 | 118351 | 116 |
| 28.59 | (0.47) | 1.03 | 1.10 | 0.28 | 15 | 77 |
| 30.51 | 27.47 | 1.03 | 1.09 | 0.30 | 16 | 57 |
| 24.00 | (4.66) | 1.03 | 1.08 | 0.55 | 185 | 54 |
| 26.15 | (12.73) | 1.03 | 1.05 | 0.69 | 272 | 63 |
| 33.10 | 64.71 | 0.94 | 0.94 | 0.31 | 17 | 116 |

---

*See Notes to Financial Statements.* 85

**Financial Highlights (continued)**

FOCUSED SMALL CAP VALUE FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br> **(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | $30.60 | $0.10 | $(0.02) | $0.08 | $– | $(1.99) | $(1.99) |
| 10/31/2024 | 24.06 | 0.09 | 6.52 | 6.61 | (0.07) |  | (0.07) |
| 10/31/2023 | 26.20 | 0.15 | (1.28) | (1.13) | (0.17) | (0.84) | (1.01) |
| 10/31/2022 | 33.16 | 0.14 | (3.87) | (3.73) | (0.07) | (3.16) | (3.23) |
| 10/31/2021 | 20.33 | 0.07 | 13.01 | 13.08 | (0.25) |  | (0.25) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Realized and unrealized gain/(loss) per share does not correlate to the aggregate of the net realized and unrealized gain/(loss) in the Statement of Operations, primarily due to the timing of the sales and repurchases of the Fund's shares in relation to fluctuating market values of the Fund's portfolio.

<sup>(d)</sup> Amount is less than $0.01.

86 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net<br>assets, <br>end of <br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $28.69 | (0.43)&nbsp;&nbsp;&nbsp;&nbsp; | 0.99 | 1.06 | 0.33 | $3803 | 77 |
| 30.60 | 27.54 | 0.98 | 1.05 | 0.31 | 5437 | 57 |
| 24.06 | (4.60) | 0.97 | 1.03 | 0.56 | 9998 | 54 |
| 26.20 | (12.73) | 0.98 | 0.98 | 0.50 | 10472 | 63 |
| 33.16 | 64.69 | 0.94 | 0.95 | 0.22 | 11274 | 116 |

---

*See Notes to Financial Statements.* 87

**Financial Highlights (continued)**

FUNDAMENTAL EQUITY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br> beginning<br>of period** | **Net**<br> **invest-**<br> **ment**<br> **income**<br> **(loss)**<sup>(a)</sup> | **Net<br>realized<br> and<br>unrealized<br>gain/(loss)** | **Total<br>from<br> invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br> income** | **Net<br>realized<br> gain** | **Total<br>distri-<br> butions** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $15.94 | $0.11 | $1.99 | $2.10 | $(0.13) | $(0.92) | $(1.05) |
| 10/31/2024 | 11.92 | 0.12 | 4.01 | 4.13 | (0.11) |  | (0.11) |
| 10/31/2023 | 12.44 | 0.12 | 0.01 | 0.13 | (0.14) | (0.51) | (0.65) |
| 10/31/2022 | 15.04 | 0.15 | (1.03) | (0.88) | (0.14) | (1.58) | (1.72) |
| 10/31/2021 | 10.56 | 0.14 | 4.55 | 4.69 | (0.21) |  | (0.21) |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 13.54 | (0.01) | 1.69 | 1.68 | (0.03) | (0.92) | (0.95) |
| 10/31/2024 | 10.13 | 0.01 | 3.42 | 3.43 | (0.02) |  | (0.02) |
| 10/31/2023 | 10.66 | 0.03 | 0.01 | 0.04 | (0.06) | (0.51) | (0.57) |
| 10/31/2022 | 13.10 | 0.05 | (0.88) | (0.83) | (0.03) | (1.58) | (1.61) |
| 10/31/2021 | 9.19 | 0.04 | 3.96 | 4.00 | (0.09) |  | (0.09) |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.72 | 0.13 | 1.97 | 2.10 | (0.16) | (0.92) | (1.08) |
| 10/31/2024 | 11.75 | 0.14 | 3.95 | 4.09 | (0.12) |  | (0.12) |
| 10/31/2023 | 12.26 | 0.14 | 0.02 | 0.16 | (0.16) | (0.51) | (0.67) |
| 10/31/2022 | 14.85 | 0.17 | (1.02) | (0.85) | (0.16) | (1.58) | (1.74) |
| 10/31/2021 | 10.44 | 0.16 | 4.48 | 4.64 | (0.23) |  | (0.23) |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.25 | 0.15 | 2.05 | 2.20 | (0.17) | (0.92) | (1.09) |
| 10/31/2024 | 12.14 | 0.17 | 4.08 | 4.25 | (0.14) |  | (0.14) |
| 10/31/2023 | 12.65 | 0.16 | 0.02 | 0.18 | (0.18) | (0.51) | (0.69) |
| 10/31/2022 | 15.26 | 0.20 | (1.05) | (0.85) | (0.18) | (1.58) | (1.76) |
| 10/31/2021 | 10.71 | 0.19 | 4.60 | 4.79 | (0.24) |  | (0.24) |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.09 | 0.15 | 2.02 | 2.17 | (0.17) | (0.92) | (1.09) |
| 10/31/2024 | 12.03 | 0.16 | 4.04 | 4.20 | (0.14) |  | (0.14) |
| 10/31/2023 | 12.55 | 0.15 | 0.02 | 0.17 | (0.18) | (0.51) | (0.69) |
| 10/31/2022 | 15.16 | 0.19 | (1.04) | (0.85) | (0.18) | (1.58) | (1.76) |
| 10/31/2021 | 10.65 | 0.18 | 4.57 | 4.75 | (0.24) |  | (0.24) |
| **Class P** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.51 | 0.07 | 1.95 | 2.02 | (0.10) | (0.92) | (1.02) |
| 10/31/2024 | 11.59 | 0.09 | 3.91 | 4.00 | (0.08) |  | (0.08) |
| 10/31/2023 | 12.12 | 0.09 | 0.01 | 0.10 | (0.12) | (0.51) | (0.63) |
| 10/31/2022 | 14.69 | 0.12 | (1.00) | (0.88) | (0.11) | (1.58) | (1.69) |
| 10/31/2021 | 10.33 | 0.11 | 4.44 | 4.55 | (0.19) |  | (0.19) |
| **Class R2** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.46 | 0.07 | 1.91 | 1.98 | (0.08) | (0.92) | (1.00) |
| 10/31/2024 | 11.56 | 0.07 | 3.90 | 3.97 | (0.07) |  | (0.07) |
| 10/31/2023 | 12.08 | 0.07 | 0.02 | 0.09 | (0.10) | (0.51) | (0.61) |
| 10/31/2022 | 14.64 | 0.10 | (0.99) | (0.89) | (0.09) | (1.58) | (1.67) |
| 10/31/2021 | 10.30 | 0.09 | 4.43 | 4.52 | (0.18) |  | (0.18) |

---

88 See Notes to Financial Statements.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br> end of<br>period** |<br>**Total**<br> **return**<sup>(b)</sup> <br> **(%)** | **Total<br>expenses<br>after<br>waivers<br> and/or reim-<br> bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br> ment<br>income<br> (loss)<br>(%)** | **Net<br>assets,<br>end of<br> period<br>(000)** | **Portfolio<br>turnover<br>rate<br> (%)** |
| $16.99 | 13.69 | 0.93 | 0.93 | 0.68 | $1334235 | 42 |
| 15.94 | 34.90 | 0.95 | 0.95 | 0.82 | 1295860 | 39 |
| 11.92 | 0.92 | 0.94 | 0.94 | 0.98 | 1068294 | 26 |
| 12.44 | (6.81) | 0.96 | 0.96 | 1.19 | 1186259 | 50 |
| 15.04 | 44.87 | 0.96 | 0.96 | 1.06 | 1382625 | 73 |
| 14.27 | 12.87 | 1.68 | 1.68 | (0.06) | 21360 | 42 |
| 13.54 | 33.86 | 1.70 | 1.70 | 0.08 | 22735 | 39 |
| 10.13 | 0.15 | 1.69 | 1.69 | 0.26 | 23316 | 26 |
| 10.66 | (7.50) | 1.71 | 1.71 | 0.43 | 38197 | 50 |
| 13.10 | 43.75 | 1.71 | 1.71 | 0.32 | 55600 | 73 |
| 16.74 | 13.86 | 0.78 | 0.78 | 0.83 | 28458 | 42 |
| 15.72 | 35.14 | 0.80 | 0.80 | 0.98 | 25434 | 39 |
| 11.75 | 1.14 | 0.79 | 0.79 | 1.19 | 24745 | 26 |
| 12.26 | (6.75) | 0.81 | 0.81 | 1.32 | 69775 | 50 |
| 14.85 | 45.02 | 0.81 | 0.81 | 1.21 | 146249 | 73 |
| 17.36 | 14.08 | 0.63 | 0.63 | 0.96 | 32492 | 42 |
| 16.25 | 35.37 | 0.63 | 0.63 | 1.14 | 22135 | 39 |
| 12.14 | 1.26 | 0.63 | 0.63 | 1.28 | 17642 | 26 |
| 12.65 | (6.58) | 0.63 | 0.63 | 1.53 | 18159 | 50 |
| 15.26 | 45.36 | 0.63 | 0.63 | 1.39 | 19916 | 73 |
| 17.17 | 14.03 | 0.68 | 0.68 | 0.92 | 575340 | 42 |
| 16.09 | 35.26 | 0.70 | 0.70 | 1.07 | 509041 | 39 |
| 12.03 | 1.18 | 0.69 | 0.69 | 1.22 | 545537 | 26 |
| 12.55 | (6.65) | 0.71 | 0.71 | 1.48 | 561349 | 50 |
| 15.16 | 45.21 | 0.71 | 0.71 | 1.32 | 281392 | 73 |
| 16.51 | 13.45 | 1.13 | 1.13 | 0.48 | 3110 | 42 |
| 15.51 | 34.74 | 1.15 | 1.15 | 0.63 | 3045 | 39 |
| 11.59 | 0.65 | 1.14 | 1.14 | 0.80 | 3237 | 26 |
| 12.12 | (7.03) | 1.16 | 1.16 | 0.99 | 4074 | 50 |
| 14.69 | 44.55 | 1.16 | 1.16 | 0.84 | 4881 | 73 |
| 16.44 | 13.24 | 1.29 | 1.29 | 0.44 | 859 | 42 |
| 15.46 | 34.47 | 1.30 | 1.30 | 0.47 | 2044 | 39 |
| 11.56 | 0.59 | 1.29 | 1.29 | 0.62 | 1964 | 26 |
| 12.08 | (7.17) | 1.31 | 1.31 | 0.82 | 2114 | 50 |
| 14.64 | 44.28 | 1.31 | 1.31 | 0.72 | 3271 | 73 |

---

See Notes to Financial Statements. 89

**Financial Highlights (continued)**

FUNDAMENTAL EQUITY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br> beginning<br>of period** | **Net**<br> **invest-**<br> **ment**<br> **income**<br> **(loss)**<sup>(a)</sup> | **Net<br>realized<br> and<br>unrealized<br>gain/(loss)** | **Total<br>from<br> invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br> income** | **Net<br>realized<br> gain** | **Total<br>distri-<br> butions** |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | $15.53 | $0.07 | $1.94 | $2.01 | $(0.09) | $(0.92) | $(1.01) |
| 10/31/2024 | 11.61 | 0.08 | 3.92 | 4.00 | (0.08) |  | (0.08) |
| 10/31/2023 | 12.13 | 0.09 | 0.01 | 0.10 | (0.11) | (0.51) | (0.62) |
| 10/31/2022 | 14.70 | 0.12 | (1.01) | (0.89) | (0.10) | (1.58) | (1.68) |
| 10/31/2021 | 10.33 | 0.11 | 4.44 | 4.55 | (0.18) |  | (0.18) |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.84 | 0.11 | 1.99 | 2.10 | (0.14) | (0.92) | (1.06) |
| 10/31/2024 | 11.84 | 0.12 | 3.99 | 4.11 | (0.11) |  | (0.11) |
| 10/31/2023 | 12.37 | 0.12 | 0.01 | 0.13 | (0.15) | (0.51) | (0.66) |
| 10/31/2022 | 14.96 | 0.15 | (1.02) | (0.87) | (0.14) | (1.58) | (1.72) |
| 10/31/2021 | 10.50 | 0.14 | 4.52 | 4.66 | (0.20) |  | (0.20) |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.11 | 0.15 | 2.02 | 2.17 | (0.17) | (0.92) | (1.09) |
| 10/31/2024 | 12.04 | 0.15 | 4.06 | 4.21 | (0.14) |  | (0.14) |
| 10/31/2023 | 12.56 | 0.15 | 0.02 | 0.17 | (0.18) | (0.51) | (0.69) |
| 10/31/2022 | 15.17 | 0.18 | (1.03) | (0.85) | (0.18) | (1.58) | (1.76) |
| 10/31/2021 | 10.66 | 0.18 | 4.57 | 4.75 | (0.24) |  | (0.24) |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.27 | 0.16 | 2.04 | 2.20 | (0.17) | (0.92) | (1.09) |
| 10/31/2024 | 12.15 | 0.17 | 4.09 | 4.26 | (0.14) |  | (0.14) |
| 10/31/2023 | 12.66 | 0.16 | 0.02 | 0.18 | (0.18) | (0.51) | (0.69) |
| 10/31/2022 | 15.27 | 0.19 | (1.04) | (0.85) | (0.18) | (1.58) | (1.76) |
| 10/31/2021 | 10.72 | 0.19 | 4.60 | 4.79 | (0.24) |  | (0.24) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

90 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br> end of<br>period** |<br>**Total**<br> **return**<sup>(b)</sup> <br> **(%)** | **Total<br>expenses<br>after<br>waivers<br> and/or reim-<br> bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br> ment<br>income<br> (loss)<br>(%)** | **Net<br>assets,<br>end of<br> period<br>(000)** | **Portfolio<br>turnover<br>rate<br> (%)** |
| $16.53 | 13.45 | 1.18 | 1.18 | 0.43 | $64196 | 42 |
| 15.53 | 34.63 | 1.20 | 1.20 | 0.57 | 65416 | 39 |
| 11.61 | 0.66 | 1.19 | 1.19 | 0.73 | 57037 | 26 |
| 12.13 | (7.10) | 1.21 | 1.21 | 0.93 | 63110 | 50 |
| 14.70 | 44.54 | 1.21 | 1.21 | 0.81 | 86249 | 73 |
| 16.88 | 13.76 | 0.93 | 0.93 | 0.67 | 4414 | 42 |
| 15.84 | 34.96 | 0.96 | 0.96 | 0.81 | 4276 | 39 |
| 11.84 | 0.86 | 0.94 | 0.94 | 0.99 | 2523 | 26 |
| 12.37 | (6.80) | 0.96 | 0.96 | 1.20 | 2969 | 50 |
| 14.96 | 44.80 | 0.96 | 0.96 | 1.04 | 2988 | 73 |
| 17.19 | 14.01 | 0.68 | 0.68 | 0.94 | 1016 | 42 |
| 16.11 | 35.31 | 0.70 | 0.70 | 1.06 | 1137 | 39 |
| 12.04 | 1.17 | 0.69 | 0.69 | 1.22 | 781 | 26 |
| 12.56 | (6.64) | 0.71 | 0.71 | 1.42 | 776 | 50 |
| 15.17 | 45.17 | 0.71 | 0.71 | 1.31 | 986 | 73 |
| 17.38 | 14.00 | 0.63 | 0.63 | 0.97 | 13633 | 42 |
| 16.27 | 35.42 | 0.63 | 0.63 | 1.14 | 10378 | 39 |
| 12.15 | 1.26 | 0.63 | 0.63 | 1.29 | 7577 | 26 |
| 12.66 | (6.57) | 0.63 | 0.63 | 1.44 | 8039 | 50 |
| 15.27 | 45.31 | 0.63 | 0.63 | 1.39 | 16209 | 73 |

---

See Notes to Financial Statements. 91

**Financial Highlights (continued)**

GLOBAL EQUITY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br> beginning<br>of period** | **Net**<br> **invest-**<br> **ment**<br> **income**<br> **(loss)**<sup>(a)</sup> | **Net<br>realized<br> and<br>unrealized<br>gain/(loss)** | **Total<br>from<br> invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br> income** | **Net<br>realized<br> gain** | **Total<br>distri-<br> butions** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $16.57 | $0.19 | $3.39 | $3.58 | $(0.07) | $– | $(0.07) |
| 10/31/2024 | 12.42 | 0.15 | 4.12 | 4.27 | (0.12) |  | (0.12) |
| 10/31/2023 | 11.37 | 0.13 | 1.00 | 1.13 | (0.08) |  | (0.08) |
| 10/31/2022 | 16.61 | 0.10 | (3.04) | (2.94) | (0.12) | (2.18) | (2.30) |
| 10/31/2021 | 12.59 | 0.14 | 4.57 | 4.71 | (0.18) | (0.51) | (0.69) |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.32 | 0.03 | 3.35 | 3.38 |  |  |  |
| 10/31/2024 | 12.24 | 0.04 | 4.07 | 4.11 | (0.03) |  | (0.03) |
| 10/31/2023 | 11.22 | 0.04 | 0.98 | 1.02 |  |  |  |
| 10/31/2022 | 16.41 | – <sup>(c)</sup> | (3.00) | (3.00) | (0.01) | (2.18) | (2.19) |
| 10/31/2021 | 12.46 | 0.02 | 4.53 | 4.55 | (0.09) | (0.51) | (0.60) |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.62 | 0.42 | 3.18 | 3.60 | (0.09) |  | (0.09) |
| 10/31/2024 | 12.45 | 0.18 | 4.12 | 4.30 | (0.13) |  | (0.13) |
| 10/31/2023 | 11.39 | 0.16 | 0.99 | 1.15 | (0.09) |  | (0.09) |
| 10/31/2022 | 16.65 | 0.11 | (3.05) | (2.94) | (0.14) | (2.18) | (2.32) |
| 10/31/2021 | 12.62 | 0.16 | 4.59 | 4.75 | (0.21) | (0.51) | (0.72) |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.66 | 0.28 | 3.39 | 3.67 | (0.11) |  | (0.11) |
| 10/31/2024 | 12.47 | 0.21 | 4.14 | 4.35 | (0.16) |  | (0.16) |
| 10/31/2023 | 11.41 | 0.18 | 1.00 | 1.18 | (0.12) |  | (0.12) |
| 10/31/2022 | 16.68 | 0.13 | (3.06) | (2.93) | (0.16) | (2.18) | (2.34) |
| 10/31/2021 | 12.63 | 0.19 | 4.60 | 4.79 | (0.23) | (0.51) | (0.74) |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.62 | 0.23 | 3.40 | 3.63 | (0.11) |  | (0.11) |
| 10/31/2024 | 12.45 | 0.17 | 4.15 | 4.32 | (0.15) |  | (0.15) |
| 10/31/2023 | 11.40 | 0.16 | 1.00 | 1.16 | (0.11) |  | (0.11) |
| 10/31/2022 | 16.66 | 0.12 | (3.04) | (2.92) | (0.16) | (2.18) | (2.34) |
| 10/31/2021 | 12.62 | 0.18 | 4.59 | 4.77 | (0.22) | (0.51) | (0.73) |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.43 | 0.16 | 3.34 | 3.50 | (0.03) |  | (0.03) |
| 10/31/2024 | 12.31 | 0.11 | 4.10 | 4.21 | (0.09) |  | (0.09) |
| 10/31/2023 | 11.26 | 0.10 | 0.99 | 1.09 | (0.04) |  | (0.04) |
| 10/31/2022 | 16.47 | 0.08 | (3.02) | (2.94) | (0.09) | (2.18) | (2.27) |
| 10/31/2021 | 12.51 | 0.11 | 4.52 | 4.63 | (0.16) | (0.51) | (0.67) |

---

92 See Notes to Financial Statements.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br> end of<br>period** |<br>**Total**<br> **return**<sup>(b)</sup> <br> **(%)** | **Total<br>expenses<br>after<br>waivers<br> and/or reim-<br> bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br> ment<br>income<br> (loss)<br>(%)** | **Net<br>assets,<br>end of<br> period<br>(000)** | **Portfolio<br>turnover<br>rate<br> (%)** |
| $20.08 | 21.60 | 0.90 | 1.04 | 1.03 | $40596 | 61 |
| 16.57 | 34.62 | 0.90 | 1.72 | 0.98 | 7468 | 41 |
| 12.42 | 9.98 | 0.90 | 2.55 | 1.08 | 5163 | 55 |
| 11.37 | (20.30) | 0.90 | 3.43 | 0.79 | 4236 | 70 |
| 16.61 | 38.37 | 0.90 | 3.53 | 0.88 | 5016 | 87 |
| 19.70 | 20.71 | 1.65 | 1.78 | 0.17 | 2603 | 61 |
| 16.32 | 33.62 | 1.65 | 2.45 | 0.26 | 543 | 41 |
| 12.24 | 9.09 | 1.65 | 3.33 | 0.35 | 345 | 55 |
| 11.22 | (20.87) | 1.65 | 4.05 | (0.03) | 392 | 70 |
| 16.41 | 37.27 | 1.65 | 4.29 | 0.14 | 826 | 87 |
| 20.13 | 21.69 | 0.75 | 0.92 | 2.42 | 388 | 61 |
| 16.62 | 34.83 | 0.75 | 1.59 | 1.13 | 1358 | 41 |
| 12.45 | 10.16 | 0.75 | 2.42 | 1.25 | 1099 | 55 |
| 11.39 | (20.26) | 0.75 | 3.21 | 0.86 | 1277 | 70 |
| 16.65 | 38.59 | 0.75 | 3.40 | 1.07 | 2146 | 87 |
| 20.22 | 22.14 | 0.51 | 0.69 | 1.47 | 45822 | 61 |
| 16.66 | 35.07 | 0.53 | 1.36 | 1.35 | 18 | 41 |
| 12.47 | 10.38 | 0.57 | 2.04 | 1.42 | 14 | 55 |
| 11.41 | (20.15) | 0.59 | 2.99 | 0.99 | 13 | 70 |
| 16.68 | 38.90 | 0.61 | 3.20 | 1.20 | 18 | 87 |
| 20.14 | 21.87 | 0.65 | 0.79 | 1.27 | 240122 | 61 |
| 16.62 | 35.00 | 0.65 | 1.25 | 1.07 | 42139 | 41 |
| 12.45 | 10.26 | 0.65 | 2.29 | 1.32 | 3245 | 55 |
| 11.40 | (20.17) | 0.65 | 3.12 | 0.93 | 1085 | 70 |
| 16.66 | 38.78 | 0.65 | 3.30 | 1.16 | 1837 | 87 |
| 19.90 | 21.31 | 1.15 | 1.31 | 0.90 | 883 | 61 |
| 16.43 | 34.28 | 1.15 | 1.98 | 0.72 | 824 | 41 |
| 12.31 | 9.67 | 1.15 | 2.80 | 0.83 | 598 | 55 |
| 11.26 | (20.47) | 1.15 | 3.67 | 0.59 | 506 | 70 |
| 16.47 | 37.85 | 1.15 | 3.78 | 0.70 | 470 | 87 |

---

See Notes to Financial Statements. 93

**Financial Highlights (continued)**

GLOBAL EQUITY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br> beginning<br>of period** | **Net**<br> **invest-**<br> **ment**<br> **income**<br> **(loss)**<sup>(a)</sup> | **Net<br>realized<br> and<br>unrealized<br>gain/(loss)** | **Total<br>from<br> invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br> income** | **Net<br>realized<br> gain** | **Total<br>distri-<br> butions** |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | $16.70 | $0.20 | $3.41 | $3.61 | $(0.07) | $– | $(0.07) |
| 10/31/2024 | 12.41 | 0.15 | 4.14 | 4.29 |  |  |  |
| 10/31/2023 | 11.37 | 0.15 | 0.98 | 1.13 | (0.09) |  | (0.09) |
| 10/31/2022 | 16.62 | 0.14 | (3.09) | (2.95) | (0.12) | (2.18) | (2.30) |
| 10/31/2021 | 12.60 | 0.14 | 4.58 | 4.72 | (0.19) | (0.51) | (0.70) |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.63 | 0.24 | 3.40 | 3.64 | (0.11) |  | (0.11) |
| 10/31/2024 | 12.46 | 0.19 | 4.13 | 4.32 | (0.15) |  | (0.15) |
| 10/31/2023 | 11.40 | 0.17 | 1.00 | 1.17 | (0.11) |  | (0.11) |
| 10/31/2022 | 16.66 | 0.12 | (3.04) | (2.92) | (0.16) | (2.18) | (2.34) |
| 10/31/2021 | 12.62 | 0.18 | 4.59 | 4.77 | (0.22) | (0.51) | (0.73) |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 16.66 | 0.26 | 3.42 | 3.68 | (0.11) |  | (0.11) |
| 10/31/2024 | 12.47 | 0.21 | 4.13 | 4.34 | (0.15) |  | (0.15) |
| 10/31/2023 | 11.41 | 0.18 | 1.00 | 1.18 | (0.12) |  | (0.12) |
| 10/31/2022 | 16.67 | 0.14 | (3.06) | (2.92) | (0.16) | (2.18) | (2.34) |
| 10/31/2021 | 12.63 | 0.19 | 4.59 | 4.78 | (0.23) | (0.51) | (0.74) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Amount is less than $0.01.

<br> 94 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br> end of<br>period** |<br>**Total**<br> **return**<sup>(b)</sup> <br> **(%)** | **Total<br>expenses<br>after<br>waivers<br> and/or reim-<br> bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br> ment<br>income<br> (loss)<br>(%)** | **Net<br>assets,<br>end of<br> period<br>(000)** | **Portfolio<br>turnover<br>rate<br> (%)** |
| $20.24 | 21.67 | 0.90 | 1.05 | 1.11 | $24 | 61 |
| 16.70 | 34.57 | 0.90 | 1.72 | 0.98 | 19 | 41 |
| 12.41 | 9.97 | 0.90 | 2.62 | 1.26 | 14 | 55 |
| 11.37 | (20.37) | 0.90 | 3.88 | 1.17 | 514 | 70 |
| 16.62 | 38.39 | 0.90 | 3.54 | 0.92 | 19 | 87 |
| 20.16 | 21.92 | 0.65 | 0.80 | 1.36 | 23 | 61 |
| 16.63 | 34.95 | 0.65 | 1.48 | 1.23 | 19 | 41 |
| 12.46 | 10.31 | 0.65 | 2.30 | 1.35 | 14 | 55 |
| 11.40 | (20.17) | 0.65 | 3.14 | 0.93 | 13 | 70 |
| 16.66 | 38.78 | 0.65 | 3.29 | 1.16 | 19 | 87 |
| 20.23 | 22.06 | 0.52 | 0.73 | 1.48 | 5548 | 61 |
| 16.66 | 35.15 | 0.53 | 1.35 | 1.34 | 5454 | 41 |
| 12.47 | 10.38 | 0.57 | 1.99 | 1.39 | 3414 | 55 |
| 11.41 | (20.10) | 0.59 | 3.02 | 1.06 | 919 | 70 |
| 16.67 | 38.82 | 0.61 | 3.21 | 1.21 | 1215 | 87 |

---

See Notes to Financial Statements. 95

**Financial Highlights (continued)**

GROWTH LEADERS FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders<br>from:** | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net<br>investment<br>income<br>(loss)**<sup>(a)</sup> | **Net<br>realized and<br>unrealized<br>gain/(loss)** | **Total from<br>investment<br>operations** | **Net<br>realized<br>gain** |<br>**Net**<br> **asset<br>value,<br>end of<br>period** |
| **Class A** |  |  |  |  |  |  |
| 10/31/2025 | $42.72 | $(0.29)&nbsp;&nbsp;&nbsp;&nbsp; | $16.13 | $15.84 | $– | $58.56 |
| 10/31/2024 | 27.67 | (0.19) | 15.24 | 15.05 |  | 42.72 |
| 10/31/2023 | 26.45 | (0.15) | 1.37 | 1.22 |  | 27.67 |
| 10/31/2022 | 52.70 | (0.16) | (16.09) | (16.25) | (10.00) | 26.45 |
| 10/31/2021 | 42.25 | (0.28) | 15.10 | 14.82 | (4.37) | 52.70 |
| **Class C** |  |  |  |  |  |  |
| 10/31/2025 | 36.41 | (0.55) | 13.67 | 13.12 |  | 49.53 |
| 10/31/2024 | 23.76 | (0.40) | 13.05 | 12.65 |  | 36.41 |
| 10/31/2023 | 22.88 | (0.31) | 1.19 | 0.88 |  | 23.76 |
| 10/31/2022 | 47.22 | (0.36) | (13.98) | (14.34) | (10.00) | 22.88 |
| 10/31/2021 | 38.53 | (0.57) | 13.63 | 13.06 | (4.37) | 47.22 |
| **Class F** |  |  |  |  |  |  |
| 10/31/2025 | 44.51 | (0.17) | 16.82 | 16.65 |  | 61.16 |
| 10/31/2024 | 28.76 | (0.10) | 15.85 | 15.75 |  | 44.51 |
| 10/31/2023 | 27.42 | (0.07) | 1.41 | 1.34 |  | 28.76 |
| 10/31/2022 | 54.15 | (0.08) | (16.65) | (16.73) | (10.00) | 27.42 |
| 10/31/2021 | 43.20 | (0.17) | 15.49 | 15.32 | (4.37) | 54.15 |
| **Class F3** |  |  |  |  |  |  |
| 10/31/2025 | 45.34 | (0.14) | 17.14 | 17.00 |  | 62.34 |
| 10/31/2024 | 29.27 | (0.07) | 16.14 | 16.07 |  | 45.34 |
| 10/31/2023 | 27.89 | (0.07) | 1.45 | 1.38 |  | 29.27 |
| 10/31/2022 | 54.88 | (0.06) | (16.93) | (16.99) | (10.00) | 27.89 |
| 10/31/2021 | 43.70 | (0.15) | 15.70 | 15.55 | (4.37) | 54.88 |
| **Class I** |  |  |  |  |  |  |
| 10/31/2025 | 44.91 | (0.17) | 16.98 | 16.81 |  | 61.72 |
| 10/31/2024 | 29.02 | (0.10) | 15.99 | 15.89 |  | 44.91 |
| 10/31/2023 | 27.67 | (0.09) | 1.44 | 1.35 |  | 29.02 |
| 10/31/2022 | 54.56 | (0.08) | (16.81) | (16.89) | (10.00) | 27.67 |
| 10/31/2021 | 43.49 | (0.17) | 15.61 | 15.44 | (4.37) | 54.56 |
| **Class R2** |  |  |  |  |  |  |
| 10/31/2025 | 40.90 | (0.44) | 15.41 | 14.97 |  | 55.87 |
| 10/31/2024 | 26.59 | (0.31) | 14.62 | 14.31 |  | 40.90 |
| 10/31/2023 | 25.50 | (0.23) | 1.32 | 1.09 |  | 26.59 |
| 10/31/2022 | 51.32 | (0.26) | (15.56) | (15.82) | (10.00) | 25.50 |
| 10/31/2021 | 41.38 | (0.44) | 14.75 | 14.31 | (4.37) | 51.32 |
| **Class R3** |  |  |  |  |  |  |
| 10/31/2025 | 40.99 | (0.39) | 15.45 | 15.06 |  | 56.05 |
| 10/31/2024 | 26.62 | (0.27) | 14.64 | 14.37 |  | 40.99 |
| 10/31/2023 | 25.51 | (0.22) | 1.33 | 1.11 |  | 26.62 |
| 10/31/2022 | 51.28 | (0.23) | (15.54) | (15.77) | (10.00) | 25.51 |
| 10/31/2021 | 41.31 | (0.39) | 14.73 | 14.34 | (4.37) | 51.28 |

---

96 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total<br>return**<sup>(b)</sup><br> **(%)** | **Total<br>expenses<br>after<br> waivers and/or<br>reimburse-<br>ments<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br> (loss)<br>(%)** | **Net<br>assets,<br>end of<br> period<br>(000)** | **Portfolio<br>turnover<br>rate<br> (%)** |
| 37.08 | 0.89 | 0.89 | (0.58)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; | $2838614 | 72 |
| 54.39 | 0.90 | 0.90 | (0.51) | 2178145 | 94 |
| 4.61 | 0.91 | 0.91 | (0.55) | 1491196 | 120 |
| (38.05) | 0.91 | 0.91 | (0.49) | 1569330 | 146 |
| 37.77 | 0.89 | 0.89 | (0.61) | 2713887 | 140 |
| 36.01 | 1.64 | 1.64 | (1.34) | 574351 | 72 |
| 53.24 | 1.65 | 1.65 | (1.26) | 493628 | 94 |
| 3.85 | 1.66 | 1.66 | (1.29) | 425713 | 120 |
| (38.52) | 1.66 | 1.66 | (1.24) | 543043 | 146 |
| 36.75 | 1.64 | 1.64 | (1.36) | 1142002 | 140 |
| 37.41 | 0.64 | 0.74 | (0.33) | 382875 | 72 |
| 54.76 | 0.65 | 0.75 | (0.26) | 261387 | 94 |
| 4.89 | 0.66 | 0.76 | (0.25) | 244364 | 120 |
| (37.89) | 0.66 | 0.76 | (0.23) | 775269 | 146 |
| 38.13 | 0.64 | 0.74 | (0.36) | 4331228 | 140 |
| 37.52 | 0.58 | 0.58 | (0.27) | 641388 | 72 |
| 54.87 | 0.58 | 0.58 | (0.19) | 464143 | 94 |
| 4.95 | 0.59 | 0.59 | (0.23) | 382432 | 120 |
| (37.85) | 0.59 | 0.59 | (0.17) | 430492 | 146 |
| 38.23 | 0.58 | 0.58 | (0.30) | 697858 | 140 |
| 37.41 | 0.64 | 0.64 | (0.33) | 3672859 | 72 |
| 54.76 | 0.65 | 0.65 | (0.26) | 2918040 | 94 |
| 4.88 | 0.66 | 0.66 | (0.30) | 2124007 | 120 |
| (37.89) | 0.66 | 0.66 | (0.25) | 2087818 | 146 |
| 38.13 | 0.64 | 0.64 | (0.36) | 1282161 | 140 |
| 36.60 | 1.24 | 1.24 | (0.93) | 2634 | 72 |
| 53.82 | 1.25 | 1.25 | (0.86) | 2021 | 94 |
| 4.27 | 1.26 | 1.26 | (0.89) | 1452 | 120 |
| (38.28) | 1.26 | 1.26 | (0.84) | 2155 | 146 |
| 37.32 | 1.24 | 1.24 | (0.96) | 3275 | 140 |
| 36.74 | 1.14 | 1.14 | (0.83) | 29965 | 72 |
| 53.98 | 1.15 | 1.15 | (0.76) | 21895 | 94 |
| 4.35 | 1.16 | 1.16 | (0.81) | 15019 | 120 |
| (38.20) | 1.16 | 1.16 | (0.74) | 13621 | 146 |
| 37.44 | 1.14 | 1.14 | (0.86) | 21928 | 140 |

---

*See Notes to Financial Statements.* 97

**Financial Highlights (continued)**

GROWTH LEADERS FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders<br> from:** | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net<br>investment<br>income<br>(loss)**<sup>(a)</sup> | **Net<br>realized and<br>unrealized<br>gain/(loss)** | **Total from<br>investment<br>operations** | **Net<br>realized<br>gain** |<br>**Net<br> asset<br>value,<br>end of<br>period** |
| **Class R4** |  |  |  |  |  |  |
| 10/31/2025 | $42.74 | $(0.29)&nbsp;&nbsp;&nbsp;&nbsp; | $16.14 | $15.85 | $– | $58.59 |
| 10/31/2024 | 27.69 | (0.19) | 15.24 | 15.05 |  | 42.74 |
| 10/31/2023 | 26.46 | (0.15) | 1.38 | 1.23 |  | 27.69 |
| 10/31/2022 | 52.72 | (0.16) | (16.10) | (16.26) | (10.00) | 26.46 |
| 10/31/2021 | 42.26 | (0.28) | 15.11 | 14.83 | (4.37) | 52.72 |
| **Class R5** |  |  |  |  |  |  |
| 10/31/2025 | 44.94 | (0.17) | 16.98 | 16.81 |  | 61.75 |
| 10/31/2024 | 29.04 | (0.10) | 16.00 | 15.90 |  | 44.94 |
| 10/31/2023 | 27.68 | (0.09) | 1.45 | 1.36 |  | 29.04 |
| 10/31/2022 | 54.58 | (0.08) | (16.82) | (16.90) | (10.00) | 27.68 |
| 10/31/2021 | 43.51 | (0.17) | 15.61 | 15.44 | (4.37) | 54.58 |
| **Class R6** |  |  |  |  |  |  |
| 10/31/2025 | 45.33 | (0.14) | 17.15 | 17.01 |  | 62.34 |
| 10/31/2024 | 29.27 | (0.08) | 16.14 | 16.06 |  | 45.33 |
| 10/31/2023 | 27.89 | (0.07) | 1.45 | 1.38 |  | 29.27 |
| 10/31/2022 | 54.88 | (0.06) | (16.93) | (16.99) | (10.00) | 27.89 |
| 10/31/2021 | 43.70 | (0.15) | 15.70 | 15.55 | (4.37) | 54.88 |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

98 *See Notes to Financial Statements.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Total<br>return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers and/or<br>reimburse-<br> ments<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 37.06 | 0.89 | 0.89 | (0.59)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; | $16747 | 72 |
| 54.35 | 0.90 | 0.90 | (0.51) | 14316 | 94 |
| 4.65 | 0.91 | 0.91 | (0.54) | 9595 | 120 |
| (38.06) | 0.91 | 0.91 | (0.49) | 10901 | 146 |
| 37.79 | 0.89 | 0.89 | (0.61) | 18549 | 140 |
| 37.41 | 0.64 | 0.64 | (0.34) | 11894 | 72 |
| 54.81 | 0.65 | 0.65 | (0.26) | 11478 | 94 |
| 4.88 | 0.66 | 0.66 | (0.30) | 9206 | 120 |
| (37.91) | 0.66 | 0.66 | (0.24) | 9706 | 146 |
| 38.13 | 0.64 | 0.64 | (0.36) | 19722 | 140 |
| 37.52 | 0.58 | 0.58 | (0.27) | 163659 | 72 |
| 54.87 | 0.58 | 0.58 | (0.19) | 141383 | 94 |
| 4.95 | 0.59 | 0.59 | (0.23) | 113990 | 120 |
| (37.85) | 0.59 | 0.59 | (0.17) | 124498 | 146 |
| 38.23 | 0.58 | 0.58 | (0.30) | 181524 | 140 |

---

*See Notes to Financial Statements.* 99

**Financial Highlights (continued)**

HEALTH CARE FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net<br>invest-<br>ment<br>income<br>(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class A** | | | | | | | |
| 10/31/2025 | $19.79 | $(0.09) | $1.79 | $1.70 | $(0.06)&nbsp;&nbsp;&nbsp;&nbsp; | $– | $(0.06) |
| 10/31/2024 | 15.39 | (0.10) | 4.50 | 4.40 |  |  |  |
| 10/31/2023 | 17.07 | (0.07) | (1.61) | (1.68) |  |  |  |
| 10/31/2022 | 21.96 | (0.05) | (3.37) | (3.42) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.27 | (0.10) | 5.10 | 5.00 |  | (2.31) | (2.31) |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 18.96 | (0.22) | 1.71 | 1.49 |  |  |  |
| 10/31/2024 | 14.86 | (0.24) | 4.34 | 4.10 |  |  |  |
| 10/31/2023 | 16.61 | (0.20) | (1.55) | (1.75) |  |  |  |
| 10/31/2022 | 21.56 | (0.17) | (3.31) | (3.48) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.09 | (0.25) | 5.03 | 4.78 |  | (2.31) | (2.31) |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 20.05 | (0.04) | 1.83 | 1.79 | (0.09) |  | (0.09) |
| 10/31/2024 | 15.56 | (0.06) | 4.55 | 4.49 |  |  |  |
| 10/31/2023 | 17.22 | (0.03) | (1.63) | (1.66) |  |  |  |
| 10/31/2022 | 22.08 | – <sup>(c)</sup> | (3.39) | (3.39) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.32 | (0.05) | 5.12 | 5.07 |  | (2.31) | (2.31) |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 20.08 | (0.02) | 1.83 | 1.81 | (0.11) |  | (0.11) |
| 10/31/2024 | 15.56 | (0.02) | 4.54 | 4.52 |  |  |  |
| 10/31/2023 | 17.23 | – <sup>(c)</sup> | (1.62) | (1.62) | (0.05) |  | (0.05) |
| 10/31/2022 | 22.07 | 0.02 | (3.39) | (3.37) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.33 | (0.04) | 5.11 | 5.07 | (0.02) | (2.31) | (2.33) |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 20.02 | (0.04) | 1.82 | 1.78 | (0.11) |  | (0.11) |
| 10/31/2024 | 15.53 | (0.06) | 4.55 | 4.49 |  |  |  |
| 10/31/2023 | 17.21 | (0.03) | (1.63) | (1.66) | (0.02) |  | (0.02) |
| 10/31/2022 | 22.07 | – <sup>(c)</sup> | (3.39) | (3.39) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.32 | (0.05) | 5.11 | 5.06 |  | (2.31) | (2.31) |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.51 | (0.13) | 1.75 | 1.62 | (0.06) |  | (0.06) |
| 10/31/2024 | 15.21 | (0.15) | 4.45 | 4.30 |  |  |  |
| 10/31/2023 | 16.91 | (0.11) | (1.59) | (1.70) |  |  |  |
| 10/31/2022 | 21.82 | (0.09) | (3.35) | (3.44) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.21 | (0.15) | 5.07 | 4.92 |  | (2.31) | (2.31) |

---

100 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br> end of<br>period** |<br>**Total<br>return**<sup>(b)</sup><br> **(%)** | **Total<br>expenses<br>after<br> waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br> income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br> period<br>(000)** | **Portfolio<br>turnover<br>rate<br> (%)** |
| $21.43 | 8.61 | 1.03 | 3.48 | (0.48) | $4496 | 91 |
| 19.79 | 28.51 | 1.03 | 3.34 | (0.55) | 4526 | 88 |
| 15.39 | (9.78) | 1.03 | 3.53 | (0.42) | 3853 | 74 |
| 17.07 | (16.29) | 1.03 | 4.11 | (0.26) | 3177 | 49 |
| 21.96 | 28.56 | 1.03 | 3.90 | (0.50) | 3507 | 59 |
| 20.45 | 7.86 | 1.78 | 4.24 | (1.22) | 1338 | 91 |
| 18.96 | 27.51 | 1.78 | 4.09 | (1.30) | 1227 | 88 |
| 14.86 | (10.48) | 1.78 | 4.26 | (1.19) | 930 | 74 |
| 16.61 | (16.91) | 1.78 | 4.85 | (1.02) | 607 | 49 |
| 21.56 | 27.57 | 1.78 | 4.62 | (1.25) | 786 | 59 |
| 21.75 | 8.89 | 0.78 | 3.32 | (0.23) | 132 | 91 |
| 20.05 | 28.84 | 0.78 | 3.18 | (0.30) | 191 | 88 |
| 15.56 | (9.58) | 0.78 | 3.41 | (0.15) | 173 | 74 |
| 17.22 | (16.05) | 0.78 | 3.97 | 0.01 | 373 | 49 |
| 22.08 | 28.88 | 0.78 | 3.63 | (0.23) | 587 | 59 |
| 21.78 | 9.09 | 0.65 | 3.19 | (0.09) | 40 | 91 |
| 20.08 | 29.05 | 0.60 | 3.04 | (0.13) | 37 | 88 |
| 15.56 | (9.45) | 0.62 | 3.11 | (0.01) | 28 | 74 |
| 17.23 | (15.96) | 0.68 | 3.69 | 0.09 | 31 | 49 |
| 22.07 | 28.91 | 0.71 | 3.55 | (0.18) | 40 | 59 |
| 21.69 | 8.92 | 0.78 | 3.25 | (0.19) | 42 | 91 |
| 20.02 | 28.83 | 0.78 | 3.10 | (0.30) | 43 | 88 |
| 15.53 | (9.58) | 0.78 | 3.26 | (0.18) | 49 | 74 |
| 17.21 | (16.06) | 0.78 | 3.85 | (0.03) | 15 | 49 |
| 22.07 | 28.82 | 0.78 | 3.66 | (0.25) | 20 | 59 |
| 21.07 | 8.39 | 1.28 | 3.77 | (0.69) | 134 | 91 |
| 19.51 | 28.19 | 1.28 | 3.60 | (0.80) | 30 | 88 |
| 15.21 | (9.99) | 1.28 | 3.75 | (0.65) | 24 | 74 |
| 16.91 | (16.50) | 1.28 | 4.35 | (0.52) | 11 | 49 |
| 21.82 | 28.19 | 1.28 | 4.17 | (0.75) | 15 | 59 |

---

*See Notes to Financial Statements.* 101

**Financial Highlights (continued)**

HEALTH CARE FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net<br>invest-<br>ment<br>income<br> (loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | $19.78 | $(0.09)&nbsp;&nbsp;&nbsp;&nbsp; | $1.79 | $1.70 | $(0.06)&nbsp;&nbsp;&nbsp;&nbsp; | $– | $(0.06) |
| 10/31/2024 | 15.39 | (0.10) | 4.49 | 4.39 |  |  |  |
| 10/31/2023 | 17.07 | (0.07) | (1.61) | (1.68) |  |  |  |
| 10/31/2022 | 21.95 | (0.04) | (3.37) | (3.41) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.27 | (0.10) | 5.09 | 4.99 |  | (2.31) | (2.31) |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 20.01 | (0.05) | 1.83 | 1.78 | (0.11) |  | (0.11) |
| 10/31/2024 | 15.53 | (0.06) | 4.54 | 4.48 |  |  |  |
| 10/31/2023 | 17.21 | (0.03) | (1.63) | (1.66) | (0.02) |  | (0.02) |
| 10/31/2022 | 22.07 | – <sup>(c)</sup> | (3.39) | (3.39) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.32 | (0.05) | 5.12 | 5.07 | (0.01) | (2.31) | (2.32) |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 20.09 | (0.02) | 1.84 | 1.82 | (0.11) |  | (0.11) |
| 10/31/2024 | 15.56 | (0.02) | 4.55 | 4.53 |  |  |  |
| 10/31/2023 | 17.24 | – <sup>(c)</sup> | (1.63) | (1.63) | (0.05) |  | (0.05) |
| 10/31/2022 | 22.08 | 0.01 | (3.38) | (3.37) |  | (1.47) | (1.47) |
| 10/31/2021 | 19.34 | (0.04) | 5.11 | 5.07 | (0.02) | (2.31) | (2.33) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Amount is less than $0.01.

102 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net <br> asset<br>value,<br>end of<br>period** |<br>**Total<br>return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br> bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $21.42 | 8.67 | 1.03 | 3.48 | (0.46) | $14 | 91 |
| 19.78 | 28.53 | 1.03 | 3.31 | (0.53) | 13 | 88 |
| 15.39 | (9.84) | 1.03 | 3.53 | (0.41) | 10 | 74 |
| 17.07 | (16.25) | 1.03 | 4.10 | (0.26) | 11 | 49 |
| 21.95 | 28.50 | 1.03 | 3.92 | (0.50) | 15 | 59 |
| 21.68 | 8.92 | 0.78 | 3.25 | (0.25) | 14 | 91 |
| 20.01 | 28.83 | 0.78 | 3.08 | (0.31) | 13 | 88 |
| 15.53 | (9.58) | 0.78 | 3.28 | (0.15) | 10 | 74 |
| 17.21 | (16.06) | 0.78 | 3.84 | (0.01) | 11 | 49 |
| 22.07 | 28.86 | 0.78 | 3.67 | (0.24) | 15 | 59 |
| 21.80 | 9.08 | 0.65 | 3.18 | (0.11) | 2241 | 91 |
| 20.09 | 29.03 | 0.60 | 3.03 | (0.11) | 2485 | 88 |
| 15.56 | (9.44) | 0.62 | 3.11 | (0.01) | 1885 | 74 |
| 17.24 | (15.95) | 0.68 | 3.68 | 0.08 | 2198 | 49 |
| 22.08 | 28.89 | 0.70 | 3.48 | (0.17) | 2851 | 59 |

---

*See Notes to Financial Statements.* 103

**Financial Highlights (continued)**

INTERNATIONAL EQUITY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $15.44 | $0.24 | $3.36 | $3.60 | $(0.21) | $(0.41) | $(0.62) |
| 10/31/2024 | 12.37 | 0.20 | 3.11 | 3.31 | (0.24) |  | (0.24) |
| 10/31/2023 | 11.61 | 0.22 | 0.79 | 1.01 | (0.25) |  | (0.25) |
| 10/31/2022 | 17.67 | 0.26 | (4.35) | (4.09) | (0.22) | (1.75) | (1.97) |
| 10/31/2021 | 13.41 | 0.17 | 4.27 | 4.44 | (0.18) |  | (0.18) |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.45 | 0.12 | 3.38 | 3.50 | (0.08) | (0.41) | (0.49) |
| 10/31/2024 | 12.31 | 0.09 | 3.11 | 3.20 | (0.06) |  | (0.06) |
| 10/31/2023 | 11.53 | 0.08 | 0.83 | 0.91 | (0.13) |  | (0.13) |
| 10/31/2022 | 17.54 | 0.15 | (4.34) | (4.19) | (0.07) | (1.75) | (1.82) |
| 10/31/2021 | 13.31 | 0.05 | 4.22 | 4.27 | (0.04) |  | (0.04) |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.39 | 0.26 | 3.36 | 3.62 | (0.24) | (0.41) | (0.65) |
| 10/31/2024 | 12.33 | 0.22 | 3.10 | 3.32 | (0.26) |  | (0.26) |
| 10/31/2023 | 11.57 | 0.22 | 0.81 | 1.03 | (0.27) |  | (0.27) |
| 10/31/2022 | 17.61 | 0.25 | (4.29) | (4.04) | (0.25) | (1.75) | (2.00) |
| 10/31/2021 | 13.36 | 0.22 | 4.22 | 4.44 | (0.19) |  | (0.19) |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.72 | 0.31 | 3.40 | 3.71 | (0.25) | (0.41) | (0.66) |
| 10/31/2024 | 12.58 | 0.25 | 3.17 | 3.42 | (0.28) |  | (0.28) |
| 10/31/2023 | 11.80 | 0.28 | 0.79 | 1.07 | (0.29) |  | (0.29) |
| 10/31/2022 | 17.92 | 0.33 | (4.44) | (4.11) | (0.26) | (1.75) | (2.01) |
| 10/31/2021 | 13.59 | 0.23 | 4.32 | 4.55 | (0.22) |  | (0.22) |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.66 | 0.28 | 3.41 | 3.69 | (0.25) | (0.41) | (0.66) |
| 10/31/2024 | 12.54 | 0.24 | 3.15 | 3.39 | (0.27) |  | (0.27) |
| 10/31/2023 | 11.77 | 0.26 | 0.80 | 1.06 | (0.29) |  | (0.29) |
| 10/31/2022 | 17.88 | 0.31 | (4.41) | (4.10) | (0.26) | (1.75) | (2.01) |
| 10/31/2021 | 13.56 | 0.21 | 4.32 | 4.53 | (0.21) |  | (0.21) |
| **Class P** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.48 | 0.22 | 3.36 | 3.58 | (0.18) | (0.41) | (0.59) |
| 10/31/2024 | 12.40 | 0.18 | 3.11 | 3.29 | (0.21) |  | (0.21) |
| 10/31/2023 | 11.63 | 0.19 | 0.81 | 1.00 | (0.23) |  | (0.23) |
| 10/31/2022 | 17.69 | 0.24 | (4.37) | (4.13) | (0.18) | (1.75) | (1.93) |
| 10/31/2021 | 13.42 | 0.09 | 4.31 | 4.40 | (0.13) |  | (0.13) |
| **Class R2** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.44 | 0.19 | 3.36 | 3.55 | (0.16) | (0.41) | (0.57) |
| 10/31/2024 | 12.37 | 0.15 | 3.12 | 3.27 | (0.20) |  | (0.20) |
| 10/31/2023 | 11.62 | 0.17 | 0.79 | 0.96 | (0.21) |  | (0.21) |
| 10/31/2022 | 17.67 | 0.22 | (4.37) | (4.15) | (0.15) | (1.75) | (1.90) |
| 10/31/2021 | 13.39 | 0.12 | 4.25 | 4.37 | (0.09) |  | (0.09) |

---

104 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $18.42 | 24.30 | 0.91 | 0.94 | 1.49 | $187898 | 102 |
| 15.44 | 27.03 | 0.94 | 0.97 | 1.38 | 153922 | 89 |
| 12.37 | 8.72 | 0.95 | 0.99 | 1.65 | 132735 | 106 |
| 11.61 | (25.75) | 1.17 | 1.22 | 1.89 | 131097 | 87 |
| 17.67 | 33.15 | 1.17 | 1.19 | 1.04 | 193680 | 58 |
| 18.46 | 23.36 | 1.66 | 1.68 | 0.71 | 1931 | 102 |
| 15.45 | 26.10 | 1.69 | 1.72 | 0.61 | 1222 | 89 |
| 12.31 | 7.82 | 1.72 | 1.76 | 0.63 | 1414 | 106 |
| 11.53 | (26.26) | 1.92 | 1.97 | 1.09 | 4161 | 87 |
| 17.54 | 32.20 | 1.92 | 1.94 | 0.28 | 7622 | 58 |
| 18.36 | 24.52 | 0.76 | 0.78 | 1.56 | 7492 | 102 |
| 15.39 | 27.19 | 0.79 | 0.82 | 1.53 | 4256 | 89 |
| 12.33 | 8.89 | 0.80 | 0.84 | 1.68 | 3894 | 106 |
| 11.57 | (25.57) | 0.96 | 1.06 | 1.76 | 7986 | 87 |
| 17.61 | 33.43 | 0.96 | 1.04 | 1.30 | 24909 | 58 |
| 18.77 | 24.64 | 0.60 | 0.62 | 1.82 | 60826 | 102 |
| 15.72 | 27.48 | 0.61 | 0.64 | 1.68 | 15859 | 89 |
| 12.58 | 9.07 | 0.61 | 0.65 | 2.08 | 11841 | 106 |
| 11.80 | (25.50) | 0.84 | 0.89 | 2.39 | 5987 | 87 |
| 17.92 | 33.57 | 0.84 | 0.86 | 1.38 | 5928 | 58 |
| 18.69 | 24.60 | 0.66 | 0.69 | 1.69 | 226150 | 102 |
| 15.66 | 27.38 | 0.69 | 0.72 | 1.63 | 147149 | 89 |
| 12.54 | 8.98 | 0.69 | 0.73 | 1.94 | 136201 | 106 |
| 11.77 | (25.51) | 0.86 | 0.97 | 2.23 | 121926 | 87 |
| 17.88 | 33.55 | 0.86 | 0.94 | 1.24 | 170044 | 58 |
| 18.47 | 24.06 | 1.09 | 1.11 | 1.33 | 15 | 102 |
| 15.48 | 26.81 | 1.11 | 1.14 | 1.22 | 13 | 89 |
| 12.40 | 8.57 | 1.14 | 1.18 | 1.44 | 10 | 106 |
| 11.63 | (25.89) | 1.37 | 1.39 | 1.71 | 9 | 87 |
| 17.69 | 32.90 | 1.37 | 1.39 | 0.53 | 13 | 58 |
| 18.42 | 23.87 | 1.26 | 1.29 | 1.15 | 308 | 102 |
| 15.44 | 26.64 | 1.29 | 1.32 | 1.04 | 225 | 89 |
| 12.37 | 8.27 | 1.30 | 1.34 | 1.30 | 169 | 106 |
| 11.62 | (25.98) | 1.52 | 1.58 | 1.60 | 143 | 87 |
| 17.67 | 32.70 | 1.52 | 1.54 | 0.70 | 178 | 58 |

---

*See Notes to Financial Statements.* 105

**Financial Highlights (continued)**

INTERNATIONAL EQUITY FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** | **Distributions to<br>shareholders from:** |
|  |<br>**Net asset**<br>**value,**<br>**beginning**<br>**of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br>**(loss)**<sup>(a)</sup> | **Net**<br>**realized**<br>**and**<br>**unrealized**<br>**gain/(loss)** | **Total**<br>**from**<br>**invest-**<br>**ment**<br>**opera-**<br>**tions** | **Net**<br>**investment**<br>**income** | **Net**<br>**realized**<br>**gain** | **Total**<br>**distri-**<br>**butions** |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | $15.16 | $0.20 | $3.30 | $3.50 | $(0.17) | $(0.41) | $(0.58) |
| 10/31/2024 | 12.15 | 0.17 | 3.04 | 3.21 | (0.20) |  | (0.20) |
| 10/31/2023 | 11.40 | 0.19 | 0.78 | 0.97 | (0.22) |  | (0.22) |
| 10/31/2022 | 17.38 | 0.22 | (4.28) | (4.06) | (0.17) | (1.75) | (1.92) |
| 10/31/2021 | 13.20 | 0.13 | 4.18 | 4.31 | (0.13) |  | (0.13) |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.35 | 0.23 | 3.35 | 3.58 | (0.22) | (0.41) | (0.63) |
| 10/31/2024 | 12.30 | 0.20 | 3.09 | 3.29 | (0.24) |  | (0.24) |
| 10/31/2023 | 11.55 | 0.22 | 0.79 | 1.01 | (0.26) |  | (0.26) |
| 10/31/2022 | 17.58 | 0.26 | (4.33) | (4.07) | (0.21) | (1.75) | (1.96) |
| 10/31/2021 | 13.35 | 0.18 | 4.23 | 4.41 | (0.18) |  | (0.18) |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.54 | 0.27 | 3.39 | 3.66 | (0.25) | (0.41) | (0.66) |
| 10/31/2024 | 12.45 | 0.29 | 3.07 | 3.36 | (0.27) |  | (0.27) |
| 10/31/2023 | 11.69 | 0.25 | 0.80 | 1.05 | (0.29) |  | (0.29) |
| 10/31/2022 | 17.78 | 0.21 | (4.29) | (4.08) | (0.26) | (1.75) | (2.01) |
| 10/31/2021 | 13.50 | 0.22 | 4.27 | 4.49 | (0.21) |  | (0.21) |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.71 | 0.31 | 3.40 | 3.71 | (0.25) | (0.41) | (0.66) |
| 10/31/2024 | 12.57 | 0.26 | 3.16 | 3.42 | (0.28) |  | (0.28) |
| 10/31/2023 | 11.79 | 0.26 | 0.81 | 1.07 | (0.29) |  | (0.29) |
| 10/31/2022 | 17.91 | 0.31 | (4.42) | (4.11) | (0.26) | (1.75) | (2.01) |
| 10/31/2021 | 13.58 | 0.23 | 4.32 | 4.55 | (0.22) |  | (0.22) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

106 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $18.08 | 24.01 | 1.16 | 1.19 | 1.26 | $6843 | 102 |
| 15.16 | 26.68 | 1.19 | 1.22 | 1.19 | 5714 | 89 |
| 12.15 | 8.42 | 1.19 | 1.23 | 1.44 | 4530 | 106 |
| 11.40 | (25.88) | 1.42 | 1.47 | 1.63 | 4203 | 87 |
| 17.38 | 32.81 | 1.42 | 1.44 | 0.80 | 6114 | 58 |
| 18.30 | 24.31 | 0.91 | 0.94 | 1.44 | 2646 | 102 |
| 15.35 | 27.01 | 0.94 | 0.97 | 1.36 | 2220 | 89 |
| 12.30 | 8.70 | 0.95 | 0.99 | 1.68 | 1359 | 106 |
| 11.55 | (25.71) | 1.17 | 1.23 | 1.93 | 1306 | 87 |
| 17.58 | 33.11 | 1.17 | 1.19 | 1.06 | 1685 | 58 |
| 18.54 | 24.60 | 0.66 | 0.69 | 1.63 | 269 | 102 |
| 15.54 | 27.33 | 0.71 | 0.73 | 1.87 | 242 | 89 |
| 12.45 | 8.96 | 0.69 | 0.73 | 1.93 | 14 | 106 |
| 11.69 | (25.56) | 0.92 | 0.96 | 1.42 | 14 | 87 |
| 17.78 | 33.50 | 0.92 | 0.94 | 1.30 | 81 | 58 |
| 18.76 | 24.66 | 0.60 | 0.62 | 1.85 | 6462 | 102 |
| 15.71 | 27.50 | 0.61 | 0.64 | 1.71 | 4616 | 89 |
| 12.57 | 9.08 | 0.62 | 0.66 | 1.99 | 3263 | 106 |
| 11.79 | (25.51) | 0.84 | 0.88 | 2.21 | 2639 | 87 |
| 17.91 | 33.60 | 0.84 | 0.86 | 1.36 | 4180 | 58 |

---

*See Notes to Financial Statements.* 107

**Financial Highlights (continued)**

INTERNATIONAL OPPORTUNITIES FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders<br>from:** | | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** |<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $18.96 | $0.33 | $2.89 | $3.22 | $(0.34) | $21.84 | 17.34 |
| 10/31/2024 | 15.94 | 0.32 | 2.97 | 3.29 | (0.27) | 18.96 | 20.77 |
| 10/31/2023 | 14.80 | 0.24 | 1.17 | 1.41 | (0.27) | 15.94 | 9.54 |
| 10/31/2022 | 21.36 | 0.19 | (6.27) | (6.08) | (0.48) | 14.80 | (29.03) |
| 10/31/2021 | 15.69 | 0.20 | 5.47 | 5.67 |  | 21.36 | 36.14 |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 17.37 | 0.16 | 2.66 | 2.82 | (0.17) | 20.02 | 16.43 |
| 10/31/2024 | 14.60 | 0.16 | 2.73 | 2.89 | (0.12) | 17.37 | 19.82 |
| 10/31/2023 | 13.54 | 0.09 | 1.10 | 1.19 | (0.13) | 14.60 | 8.76 |
| 10/31/2022 | 19.57 | 0.05 | (5.76) | (5.71) | (0.32) | 13.54 | (29.58) |
| 10/31/2021 | 14.47 | 0.04 | 5.06 | 5.10 |  | 19.57 | 35.25 |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 18.81 | 0.34 | 2.89 | 3.23 | (0.37) | 21.67 | 17.54 |
| 10/31/2024 | 15.81 | 0.35 | 2.94 | 3.29 | (0.29) | 18.81 | 20.92 |
| 10/31/2023 | 14.67 | 0.19 | 1.23 | 1.42 | (0.28) | 15.81 | 9.70 |
| 10/31/2022 | 21.19 | 0.22 | (6.23) | (6.01) | (0.51) | 14.67 | (28.93) |
| 10/31/2021 | 15.53 | 0.23 | 5.43 | 5.66 |  | 21.19 | 36.38 |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.79 | 0.41 | 3.02 | 3.43 | (0.39) | 22.83 | 17.73 |
| 10/31/2024 | 16.62 | 0.39 | 3.10 | 3.49 | (0.32) | 19.79 | 21.13 |
| 10/31/2023 | 15.41 | 0.30 | 1.23 | 1.53 | (0.32) | 16.62 | 9.94 |
| 10/31/2022 | 22.22 | 0.27 | (6.54) | (6.27) | (0.54) | 15.41 | (28.83) |
| 10/31/2021 | 16.26 | 0.29 | 5.67 | 5.96 |  | 22.22 | 36.65 |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.63 | 0.40 | 2.98 | 3.38 | (0.39) | 22.62 | 17.61 |
| 10/31/2024 | 16.50 | 0.38 | 3.07 | 3.45 | (0.32) | 19.63 | 21.02 |
| 10/31/2023 | 15.31 | 0.29 | 1.22 | 1.51 | (0.32) | 16.50 | 9.85 |
| 10/31/2022 | 22.08 | 0.24 | (6.48) | (6.24) | (0.53) | 15.31 | (28.85) |
| 10/31/2021 | 16.17 | 0.26 | 5.65 | 5.91 |  | 22.08 | 36.55 |
| **Class P** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.59 | 0.30 | 2.98 | 3.28 | (0.30) | 22.57 | 17.07 |
| 10/31/2024 | 16.37 | 0.29 | 3.06 | 3.35 | (0.13) | 19.59 | 20.49 |
| 10/31/2023 | 15.18 | 0.19 | 1.23 | 1.42 | (0.23) | 16.37 | 9.37 |
| 10/31/2022 | 21.89 | 0.17 | (6.45) | (6.28) | (0.43) | 15.18 | (29.19) |
| 10/31/2021 | 16.10 | 0.17 | 5.62 | 5.79 |  | 21.89 | 35.96 |
| **Class R2** |  |  |  |  |  |  |  |
| 10/31/2025 | 18.56 | 0.25 | 2.83 | 3.08 | (0.27) | 21.37 | 16.89 |
| 10/31/2024 | 15.59 | 0.24 | 2.92 | 3.16 | (0.19) | 18.56 | 20.35 |
| 10/31/2023 | 14.48 | 0.15 | 1.18 | 1.33 | (0.22) | 15.59 | 9.17 |
| 10/31/2022 | 20.89 | 0.13 | (6.15) | (6.02) | (0.39) | 14.48 | (29.28) |
| 10/31/2021 | 15.39 | 0.12 | 5.38 | 5.50 |  | 20.89 | 35.74 |

---

108 *See Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
| **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 1.25 | 1.29 | 1.65 | $97815 | 98 |
| 1.24 | 1.25 | 1.71 | 92403 | 50 |
| 1.22 | 1.25 | 1.38 | 85371 | 39 |
| 1.22 | 1.26 | 1.10 | 84505 | 70 |
| 1.19 | 1.21 | 1.00 | 130088 | 74 |
| 2.00 | 2.04 | 0.90 | 2220 | 98 |
| 1.99 | 2.00 | 0.96 | 3397 | 50 |
| 1.98 | 2.01 | 0.56 | 4729 | 39 |
| 1.97 | 2.00 | 0.30 | 7226 | 70 |
| 1.95 | 1.96 | 0.22 | 14488 | 74 |
| 1.10 | 1.14 | 1.71 | 2449 | 98 |
| 1.09 | 1.10 | 1.89 | 2545 | 50 |
| 1.08 | 1.11 | 1.16 | 3683 | 39 |
| 1.07 | 1.10 | 1.22 | 13570 | 70 |
| 1.05 | 1.06 | 1.13 | 54601 | 74 |
| 0.92 | 0.96 | 1.98 | 32654 | 98 |
| 0.91 | 0.92 | 2.04 | 30426 | 50 |
| 0.89 | 0.92 | 1.68 | 27245 | 39 |
| 0.89 | 0.93 | 1.47 | 25732 | 70 |
| 0.86 | 0.88 | 1.36 | 30504 | 74 |
| 1.00 | 1.04 | 1.92 | 152728 | 98 |
| 0.99 | 1.00 | 1.96 | 154096 | 50 |
| 0.97 | 1.00 | 1.64 | 143466 | 39 |
| 0.97 | 1.01 | 1.34 | 153655 | 70 |
| 0.95 | 0.96 | 1.24 | 193183 | 74 |
| 1.45 | 1.49 | 1.46 | 34 | 98 |
| 1.44 | 1.45 | 1.51 | 27 | 50 |
| 1.43 | 1.46 | 1.09 | 21 | 39 |
| 1.42 | 1.46 | 0.93 | 113 | 70 |
| 1.39 | 1.41 | 0.80 | 140 | 74 |
| 1.60 | 1.64 | 1.27 | 1731 | 98 |
| 1.59 | 1.60 | 1.34 | 1571 | 50 |
| 1.57 | 1.60 | 0.93 | 1402 | 39 |
| 1.57 | 1.61 | 0.72 | 1913 | 70 |
| 1.55 | 1.56 | 0.63 | 2771 | 74 |

---

*See Notes to Financial Statements.* 109

**Financial Highlights (continued)**

INTERNATIONAL OPPORTUNITIES FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders<br>from:** | | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | **Net**<br>**invest-**<br>**ment**<br>**income**<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | <br>**Net<br>asset<br>value,<br>end of<br>period** |<br>**Total**<br>**return**<sup>(b)</sup><br>**(%)** |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | $18.53 | $0.28 | $2.82 | $3.10 | $(0.29) | $21.34 | 17.05 |
| 10/31/2024 | 15.59 | 0.27 | 2.91 | 3.18 | (0.24) | 18.53 | 20.45 |
| 10/31/2023 | 14.47 | 0.19 | 1.16 | 1.35 | (0.23) | 15.59 | 9.30 |
| 10/31/2022 | 20.82 | 0.15 | (6.15) | (6.00) | (0.35) | 14.47 | (29.24) |
| 10/31/2021 | 15.32 | 0.10 | 5.40 | 5.50 |  | 20.82 | 35.90 |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | 18.85 | 0.34 | 2.86 | 3.20 | (0.34) | 21.71 | 17.35 |
| 10/31/2024 | 15.86 | 0.32 | 2.95 | 3.27 | (0.28) | 18.85 | 20.73 |
| 10/31/2023 | 14.72 | 0.24 | 1.17 | 1.41 | (0.27) | 15.86 | 9.54 |
| 10/31/2022 | 21.26 | 0.19 | (6.25) | (6.06) | (0.48) | 14.72 | (29.02) |
| 10/31/2021 | 15.61 | 0.18 | 5.47 | 5.65 |  | 21.26 | 36.19 |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.62 | 0.40 | 2.98 | 3.38 | (0.39) | 22.61 | 17.62 |
| 10/31/2024 | 16.49 | 0.38 | 3.07 | 3.45 | (0.32) | 19.62 | 21.03 |
| 10/31/2023 | 15.30 | 0.29 | 1.22 | 1.51 | (0.32) | 16.49 | 9.85 |
| 10/31/2022 | 22.07 | 0.24 | (6.48) | (6.24) | (0.53) | 15.30 | (28.88) |
| 10/31/2021 | 16.17 | 0.14 | 5.76 | 5.90 |  | 22.07 | 36.49 |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.79 | 0.42 | 3.01 | 3.43 | (0.39) | 22.83 | 17.72 |
| 10/31/2024 | 16.62 | 0.40 | 3.09 | 3.49 | (0.32) | 19.79 | 21.13 |
| 10/31/2023 | 15.41 | 0.30 | 1.23 | 1.53 | (0.32) | 16.62 | 9.94 |
| 10/31/2022 | 22.22 | 0.26 | (6.53) | (6.27) | (0.54) | 15.41 | (28.83) |
| 10/31/2021 | 16.26 | 0.24 | 5.72 | 5.96 |  | 22.22 | 36.65 |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

110 *See Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
| **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 1.50 | 1.54 | 1.42 | $5166 | 98 |
| 1.49 | 1.50 | 1.49 | 4706 | 50 |
| 1.47 | 1.50 | 1.16 | 4508 | 39 |
| 1.47 | 1.51 | 0.84 | 4129 | 70 |
| 1.45 | 1.47 | 0.51 | 6838 | 74 |
| 1.25 | 1.29 | 1.68 | 2732 | 98 |
| 1.24 | 1.25 | 1.72 | 2683 | 50 |
| 1.22 | 1.25 | 1.39 | 2278 | 39 |
| 1.22 | 1.26 | 1.10 | 1935 | 70 |
| 1.20 | 1.22 | 0.91 | 2869 | 74 |
| 1.00 | 1.04 | 1.93 | 2175 | 98 |
| 0.99 | 1.00 | 1.98 | 2105 | 50 |
| 0.97 | 1.00 | 1.62 | 2009 | 39 |
| 0.97 | 1.00 | 1.33 | 1877 | 70 |
| 0.95 | 0.97 | 0.70 | 3283 | 74 |
| 0.92 | 0.96 | 1.99 | 18204 | 98 |
| 0.91 | 0.92 | 2.05 | 17454 | 50 |
| 0.89 | 0.92 | 1.70 | 16179 | 39 |
| 0.89 | 0.93 | 1.42 | 15946 | 70 |
| 0.87 | 0.89 | 1.14 | 25184 | 74 |

---

*See Notes to Financial Statements.* 111

**Financial Highlights (continued)**

INTERNATIONAL VALUE FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders <br>from:** | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | Net<br>investment <br>income<br>**(loss)**<sup>(a)</sup> | **Net<br>realized and <br>unrealized<br>gain/(loss)** | **Total from<br>investment<br>operations** | **Net<br>investment<br>income** |<br>**Net asset<br>value,<br>end of<br>period** |
| **Class A** |  |  |  |  |  |  |
| 10/31/2025 | $8.05 | $0.28 | $1.82 | $2.10 | $(0.28) | $9.87 |
| 10/31/2024 | 6.81 | 0.26 | 1.27 | 1.53 | (0.29) | 8.05 |
| 10/31/2023 | 6.14 | 0.19 | 0.68 | 0.87 | (0.20) | 6.81 |
| 10/31/2022 | 8.00 | 0.26 | (1.79) | (1.53) | (0.33) | 6.14 |
| 10/31/2021 | 6.03 | 0.21 | 1.98 | 2.19 | (0.22) | 8.00 |
| **Class C** |  |  |  |  |  |  |
| 10/31/2025 | 8.00 | 0.21 | 1.80 | 2.01 | (0.21) | 9.80 |
| 10/31/2024 | 6.76 | 0.20 | 1.26 | 1.46 | (0.22) | 8.00 |
| 10/31/2023 | 6.09 | 0.13 | 0.68 | 0.81 | (0.14) | 6.76 |
| 10/31/2022 | 7.93 | 0.22 | (1.79) | (1.57) | (0.27) | 6.09 |
| 10/31/2021 | 5.98 | 0.15 | 1.96 | 2.11 | (0.16) | 7.93 |
| **Class F** |  |  |  |  |  |  |
| 10/31/2025 | 8.12 | 0.29 | 1.84 | 2.13 | (0.29) | 9.96 |
| 10/31/2024 | 6.87 | 0.28 | 1.27 | 1.55 | (0.30) | 8.12 |
| 10/31/2023 | 6.18 | 0.19 | 0.70 | 0.89 | (0.20) | 6.87 |
| 10/31/2022 | 8.04 | 0.31 | (1.83) | (1.52) | (0.34) | 6.18 |
| 10/31/2021 | 6.06 | 0.23 | 1.98 | 2.21 | (0.23) | 8.04 |
| **Class F3** |  |  |  |  |  |  |
| 10/31/2025 | 8.14 | 0.31 | 1.84 | 2.15 | (0.30) | 9.99 |
| 10/31/2024 | 6.87 | 0.29 | 1.28 | 1.57 | (0.30) | 8.14 |
| 10/31/2023 | 6.19 | 0.22 | 0.68 | 0.90 | (0.22) | 6.87 |
| 10/31/2022 | 8.06 | 0.28 | (1.80) | (1.52) | (0.35) | 6.19 |
| 10/31/2021 | 6.07 | 0.24 | 1.99 | 2.23 | (0.24) | 8.06 |
| **Class I** |  |  |  |  |  |  |
| 10/31/2025 | 8.13 | 0.30 | 1.84 | 2.14 | (0.30) | 9.97 |
| 10/31/2024 | 6.87 | 0.29 | 1.27 | 1.56 | (0.30) | 8.13 |
| 10/31/2023 | 6.19 | 0.22 | 0.68 | 0.90 | (0.22) | 6.87 |
| 10/31/2022 | 8.06 | 0.32 | (1.84) | (1.52) | (0.35) | 6.19 |
| 10/31/2021 | 6.07 | 0.25 | 1.98 | 2.23 | (0.24) | 8.06 |
| **Class R2** |  |  |  |  |  |  |
| 10/31/2025 | 8.27 | 0.25 | 1.87 | 2.12 | (0.25) | 10.14 |
| 10/31/2024 | 6.99 | 0.24 | 1.30 | 1.54 | (0.26) | 8.27 |
| 10/31/2023 | 6.30 | 0.18 | 0.70 | 0.88 | (0.19) | 6.99 |
| 10/31/2022 | 8.21 | 0.21 | (1.81) | (1.60) | (0.31) | 6.30 |
| 10/31/2021 | 6.18 | 0.19 | 2.03 | 2.22 | (0.19) | 8.21 |
| **Class R3** |  |  |  |  |  |  |
| 10/31/2025 | 8.15 | 0.26 | 1.85 | 2.11 | (0.26) | 10.00 |
| 10/31/2024 | 6.89 | 0.24 | 1.28 | 1.52 | (0.26) | 8.15 |
| 10/31/2023 | 6.22 | 0.18 | 0.68 | 0.86 | (0.19) | 6.89 |
| 10/31/2022 | 8.09 | 0.24 | (1.80) | (1.56) | (0.31) | 6.22 |
| 10/31/2021 | 6.10 | 0.20 | 1.99 | 2.19 | (0.20) | 8.09 |

---

112 See Notes to Financial Statements.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>Total<br>**return**<sup>(b)</sup><br>(%) | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 26.45 | 0.96 | 0.98 | 3.13 | $240603 | 66 |
| 22.53 | 0.97 | 0.99 | 3.35 | 209747 | 54 |
| 14.09 | 0.98 | 1.02 | 2.72 | 190585 | 46 |
| (19.56) | 1.12 | 1.18 | 3.66 | 181412 | 67 |
| 36.44 | 1.12 | 1.14 | 2.73 | 242422 | 61 |
| 25.40 | 1.71 | 1.73 | 2.40 | 2028 | 66 |
| 21.74 | 1.72 | 1.74 | 2.62 | 1787 | 54 |
| 13.22 | 1.74 | 1.78 | 1.91 | 2733 | 46 |
| (20.19) | 1.87 | 1.93 | 3.00 | 5037 | 67 |
| 35.37 | 1.87 | 1.89 | 1.88 | 10707 | 61 |
| 26.66 | 0.81 | 0.83 | 3.28 | 5250 | 66 |
| 22.65 | 0.82 | 0.84 | 3.49 | 4933 | 54 |
| 14.33 | 0.83 | 0.89 | 2.71 | 4786 | 46 |
| (19.45) | 0.92 | 1.02 | 4.11 | 9803 | 67 |
| 36.78 | 0.92 | 0.99 | 2.93 | 29094 | 61 |
| 26.84 | 0.63 | 0.65 | 3.45 | 45927 | 66 |
| 23.07 | 0.64 | 0.66 | 3.65 | 34183 | 54 |
| 14.42 | 0.65 | 0.69 | 3.07 | 28831 | 46 |
| (19.32) | 0.80 | 0.87 | 3.92 | 22938 | 67 |
| 36.87 | 0.79 | 0.83 | 3.06 | 25103 | 61 |
| 26.75 | 0.71 | 0.73 | 3.37 | 167048 | 66 |
| 22.92 | 0.72 | 0.74 | 3.60 | 148827 | 54 |
| 14.42 | 0.73 | 0.77 | 3.00 | 125953 | 46 |
| (19.33) | 0.82 | 0.91 | 4.23 | 117542 | 67 |
| 36.86 | 0.82 | 0.89 | 3.14 | 334988 | 61 |
| 25.93 | 1.31 | 1.33 | 2.76 | 78 | 66 |
| 22.09 | 1.31 | 1.33 | 3.02 | 59 | 54 |
| 13.83 | 1.32 | 1.36 | 2.47 | 54 | 46 |
| (19.92) | 1.47 | 1.55 | 2.95 | 44 | 67 |
| 36.04 | 1.47 | 1.49 | 2.37 | 27 | 61 |
| 26.05 | 1.21 | 1.23 | 2.88 | 5365 | 66 |
| 22.23 | 1.22 | 1.24 | 2.99 | 5052 | 54 |
| 13.76 | 1.23 | 1.27 | 2.47 | 6211 | 46 |
| (19.67) | 1.37 | 1.43 | 3.36 | 6003 | 67 |
| 36.00 | 1.37 | 1.39 | 2.50 | 6840 | 61 |

---

See Notes to Financial Statements. 113

**Financial Highlights (continued)**

INTERNATIONAL VALUE FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders <br>from:** | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | Net<br>investment<br>income<br>**(loss)**<sup>(a)</sup> | **Net<br>realized and<br>unrealized<br>gain/(loss)** | **Total from<br>investment<br>operations** | **Net<br>investment<br>income** |<br>**Net asset<br>value,<br>end of<br>period** |
| **Class R4** |  |  |  |  |  |  |
| 10/31/2025 | $8.03 | $0.28 | $1.81 | $2.09 | $(0.28) | $9.84 |
| 10/31/2024 | 6.79 | 0.26 | 1.27 | 1.53 | (0.29) | 8.03 |
| 10/31/2023 | 6.12 | 0.21 | 0.66 | 0.87 | (0.20) | 6.79 |
| 10/31/2022 | 7.98 | 0.27 | (1.80) | (1.53) | (0.33) | 6.12 |
| 10/31/2021 | 6.01 | 0.24 | 1.95 | 2.19 | (0.22) | 7.98 |
| **Class R5** |  |  |  |  |  |  |
| 10/31/2025 | 8.09 | 0.30 | 1.83 | 2.13 | (0.30) | 9.92 |
| 10/31/2024 | 6.84 | 0.29 | 1.26 | 1.55 | (0.30) | 8.09 |
| 10/31/2023 | 6.16 | 0.21 | 0.69 | 0.90 | (0.22) | 6.84 |
| 10/31/2022 | 8.03 | 0.27 | (1.79) | (1.52) | (0.35) | 6.16 |
| 10/31/2021 | 6.05 | 0.24 | 1.98 | 2.22 | (0.24) | 8.03 |
| **Class R6** |  |  |  |  |  |  |
| 10/31/2025 | 8.14 | 0.31 | 1.84 | 2.15 | (0.30) | 9.99 |
| 10/31/2024 | 6.87 | 0.29 | 1.28 | 1.57 | (0.30) | 8.14 |
| 10/31/2023 | 6.19 | 0.22 | 0.68 | 0.90 | (0.22) | 6.87 |
| 10/31/2022 | 8.06 | 0.29 | (1.81) | (1.52) | (0.35) | 6.19 |
| 10/31/2021 | 6.07 | 0.24 | 1.99 | 2.23 | (0.24) | 8.06 |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

114 See Notes to Financial Statements.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>Total<br>**return**<sup>(b)</sup><br>(%) | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 26.39 | 0.96 | 0.98 | 3.18 | $178 | 66 |
| 22.61 | 0.97 | 0.99 | 3.29 | 164 | 54 |
| 14.11 | 0.98 | 1.02 | 2.88 | 107 | 46 |
| (19.62) | 1.12 | 1.18 | 3.70 | 109 | 67 |
| 36.35 | 1.12 | 1.14 | 2.98 | 153 | 61 |
| 26.76 | 0.71 | 0.73 | 3.37 | 15 | 66 |
| 22.88 | 0.69 | 0.71 | 3.63 | 12 | 54 |
| 14.49 | 0.73 | 0.77 | 2.94 | 10 | 46 |
| (19.40) | 0.87 | 0.93 | 3.69 | 14 | 67 |
| 36.82 | 0.87 | 0.88 | 3.09 | 15 | 61 |
| 26.84 | 0.63 | 0.65 | 3.46 | 1683 | 66 |
| 23.07 | 0.64 | 0.66 | 3.69 | 1714 | 54 |
| 14.43 | 0.65 | 0.69 | 3.01 | 1608 | 46 |
| (19.32) | 0.80 | 0.87 | 3.97 | 1374 | 67 |
| 36.87 | 0.79 | 0.83 | 3.06 | 1375 | 61 |

---

See Notes to Financial Statements. 115

**Financial Highlights (continued)**

MICRO CAP GROWTH FUND

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions<br>to<br>shareholders <br>from:** | |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | Net<br>investment<br>income<br>**(loss)**<sup>(a)</sup> | **Net<br>realized and<br>unrealized<br>gain/(loss)** | **Total from<br>investment<br>operations** | **Net<br>realized<br>gain** |<br>**Net asset<br>value,<br>end of<br>period** |
| **Class A** |  |  |  |  |  |  |
| 10/31/2025 | $16.51 | $(0.18) | $3.90 | $3.72 | $– | $20.23 |
| 10/31/2024 | 11.05 | (0.17) | 5.63 | 5.46 |  | 16.51 |
| 10/31/2023 | 13.86 | (0.16) | (2.65) | (2.81) |  | 11.05 |
| 10/31/2022 | 19.36 | (0.13) | (5.37) | (5.50) |  | 13.86 |
| 10/31/2021 | 17.51 | (0.25) | 7.18 | 6.93 | (5.08) | 19.36 |
| **Class C** |  |  |  |  |  |  |
| 10/31/2025 | 19.59 | (0.37) | 4.60 | 4.23 |  | 23.82 |
| 10/31/2024 | 13.21 | (0.33) | 6.71 | 6.38 |  | 19.59 |
| 10/31/2023 | 16.70 | (0.31) | (3.18) | (3.49) |  | 13.21 |
| 10/31/2022 | 23.49 | (0.30) | (6.49) | (6.79) |  | 16.70 |
| 10/31/2021 | 20.44 | (0.49) | 8.62 | 8.13 | (5.08) | 23.49 |
| **Class F** |  |  |  |  |  |  |
| 10/31/2025 | 20.43 | (0.17) | 4.84 | 4.67 |  | 25.10 |
| 10/31/2024 | 13.64 | (0.16) | 6.95 | 6.79 |  | 20.43 |
| 10/31/2023 | 17.07 | (0.15) | (3.28) | (3.43) |  | 13.64 |
| 10/31/2022 | 23.77 | (0.12) | (6.58) | (6.70) |  | 17.07 |
| 10/31/2021 | 20.47 | (0.25) | 8.63 | 8.38 | (5.08) | 23.77 |
| **Class I** |  |  |  |  |  |  |
| 10/31/2025 | 20.43 | (0.17) | 4.83 | 4.66 |  | 25.09 |
| 10/31/2024 | 13.64 | (0.17) | 6.96 | 6.79 |  | 20.43 |
| 10/31/2023 | 17.07 | (0.15) | (3.28) | (3.43) |  | 13.64 |
| 10/31/2022 | 23.77 | (0.12) | (6.58) | (6.70) |  | 17.07 |
| 10/31/2021 | 20.47 | (0.24) | 8.62 | 8.38 | (5.08) | 23.77 |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

116 See Notes to Financial Statements.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>Total<br>**return**<sup>(b)</sup><br>(%) | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>investment<br>income<br>(loss)<br>(%)** | **Net assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| 22.53 | 1.37 | 1.37 | (1.08) | $27724 | 107 |
| 49.41 | 1.37 | 1.38 | (1.19) | 26848 | 122 |
| (20.27) | 1.36 | 1.37 | (1.16) | 24056 | 121 |
| (28.41) | 1.40 | 1.41 | (0.91) | 36107 | 87 |
| 47.12 | 1.36 | 1.37 | (1.29) | 61063 | 102 |
| 21.59 | 2.12 | 2.12 | (1.83) | 5085 | 107 |
| 48.30 | 2.12 | 2.13 | (1.94) | 5353 | 122 |
| (20.90) | 2.12 | 2.13 | (1.91) | 4641 | 121 |
| (28.91) | 2.15 | 2.16 | (1.66) | 6827 | 87 |
| 46.03 | 2.12 | 2.13 | (2.05) | 13532 | 102 |
| 22.81 | 1.12 | 1.22 | (0.83) | 5313 | 107 |
| 49.78 | 1.12 | 1.23 | (0.93) | 7057 | 122 |
| (20.09) | 1.12 | 1.23 | (0.90) | 11019 | 121 |
| (28.19) | 1.15 | 1.25 | (0.63) | 41545 | 87 |
| 47.39 | 1.12 | 1.22 | (1.05) | 167300 | 102 |
| 22.81 | 1.12 | 1.12 | (0.83) | 168881 | 107 |
| 49.78 | 1.12 | 1.13 | (0.94) | 155430 | 122 |
| (20.09) | 1.11 | 1.12 | (0.91) | 123214 | 121 |
| (28.19) | 1.15 | 1.16 | (0.68) | 149122 | 87 |
| 47.39 | 1.11 | 1.12 | (1.03) | 155420 | 102 |

---

See Notes to Financial Statements. 117

**Financial Highlights (continued)**

VALUE OPPORTUNITIES FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to <br>shareholders from:** | **Distributions to <br>shareholders from:** | **Distributions to <br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | Net<br>invest-<br>ment<br>income<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class A** |  |  |  |  |  |  |  |
| 10/31/2025 | $20.13 | $0.04 | $(0.30) | $(0.26) | $– | $(1.30) | $(1.30) |
| 10/31/2024 | 15.52 | 0.02 | 4.85 | 4.87 | (0.02) | (0.24) | (0.26) |
| 10/31/2023 | 16.91 | 0.05 | 0.01 | 0.06 | (0.11) | (1.34) | (1.45) |
| 10/31/2022 | 23.70 | 0.10 | (4.01) | (3.91) |  | (2.88) | (2.88) |
| 10/31/2021 | 16.98 | 0.01 | 7.76 | 7.77 | (0.05) | (1.00) | (1.05) |
| **Class C** |  |  |  |  |  |  |  |
| 10/31/2025 | 15.88 | (0.07) | (0.22) | (0.29) |  | (1.30) | (1.30) |
| 10/31/2024 | 12.36 | (0.09) | 3.85 | 3.76 |  | (0.24) | (0.24) |
| 10/31/2023 | 13.75 | (0.05) | – <sup>(c)</sup> | (0.05) |  | (1.34) | (1.34) |
| 10/31/2022 | 19.92 | (0.03) | (3.26) | (3.29) |  | (2.88) | (2.88) |
| 10/31/2021 | 14.47 | (0.13) | 6.58 | 6.45 |  | (1.00) | (1.00) |
| **Class F** |  |  |  |  |  |  |  |
| 10/31/2025 | 20.85 | 0.08 | (0.32) | (0.24) | (0.02) | (1.30) | (1.32) |
| 10/31/2024 | 16.06 | 0.05 | 5.02 | 5.07 | (0.04) | (0.24) | (0.28) |
| 10/31/2023 | 17.45 | 0.09 | (0.01)<sup>(d)</sup> | 0.08 | (0.13) | (1.34) | (1.47) |
| 10/31/2022 | 24.37 | 0.14 | (4.15) | (4.01) | (0.03) | (2.88) | (2.91) |
| 10/31/2021 | 17.42 | 0.04 | 7.98 | 8.02 | (0.07) | (1.00) | (1.07) |
| **Class F3** |  |  |  |  |  |  |  |
| 10/31/2025 | 21.74 | 0.11 | (0.33) | (0.22) | (0.04) | (1.30) | (1.34) |
| 10/31/2024 | 16.72 | 0.09 | 5.24 | 5.33 | (0.07) | (0.24) | (0.31) |
| 10/31/2023 | 18.11 | 0.11 | – <sup>(c)</sup> | 0.11 | (0.16) | (1.34) | (1.50) |
| 10/31/2022 | 25.16 | 0.18 | (4.29) | (4.11) | (0.06) | (2.88) | (2.94) |
| 10/31/2021 | 17.95 | 0.09 | 8.21 | 8.30 | (0.09) | (1.00) | (1.09) |
| **Class I** |  |  |  |  |  |  |  |
| 10/31/2025 | 21.46 | 0.10 | (0.33) | (0.23) | (0.04) | (1.30) | (1.34) |
| 10/31/2024 | 16.53 | 0.06 | 5.17 | 5.23 | (0.06) | (0.24) | (0.30) |
| 10/31/2023 | 17.93 | 0.10 | – <sup>(c)</sup> | 0.10 | (0.16) | (1.34) | (1.50) |
| 10/31/2022 | 24.95 | 0.15 | (4.24) | (4.09) | (0.05) | (2.88) | (2.93) |
| 10/31/2021 | 17.82 | 0.06 | 8.16 | 8.22 | (0.09) | (1.00) | (1.09) |
| **Class P** |  |  |  |  |  |  |  |
| 10/31/2025 | 19.41 | 0.01 | (0.29) | (0.28) |  | (1.30) | (1.30) |
| 10/31/2024 | 14.98 | (0.02) | 4.69 | 4.67 |  | (0.24) | (0.24) |
| 10/31/2023 | 16.38 | 0.02 | (0.01)<sup>(d)</sup> | 0.01 | (0.07) | (1.34) | (1.41) |
| 10/31/2022 | 23.08 | 0.06 | (3.88) | (3.82) |  | (2.88) | (2.88) |
| 10/31/2021 | 16.55 | (0.03) | 7.56 | 7.53 | (–)<sup>(c)</sup> | (1.00) | (1.00) |
| **Class R2** |  |  |  |  |  |  |  |
| 10/31/2025 | 18.60 | (0.02) | (0.27) | (0.29) |  | (1.30) | (1.30) |
| 10/31/2024 | 14.39 | (0.04) | 4.49 | 4.45 |  | (0.24) | (0.24) |
| 10/31/2023 | 15.78 | (0.01) | 0.01 |  | (0.05) | (1.34) | (1.39) |
| 10/31/2022 | 22.37 | 0.03 | (3.74) | (3.71) |  | (2.88) | (2.88) |
| 10/31/2021 | 16.09 | (0.06) | 7.34 | 7.28 |  | (1.00) | (1.00) |

---

118 See Notes to Financial Statements.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>Total<br>**return**<sup>(b)</sup><br>(%) | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $18.57 | (1.90) | 1.16 | 1.16 | 0.23 | $530960 | 36 |
| 20.13 | 31.76 | 1.18 | 1.19 | 0.09 | 629155 | 33 |
| 15.52 | 0.12 | 1.18 | 1.18 | 0.31 | 540438 | 19 |
| 16.91 | (19.11) | 1.16 | 1.16 | 0.53 | 633570 | 40 |
| 23.70 | 47.52 | 1.15 | 1.15 | 0.04 | 851298 | 56 |
| 14.29 | (2.65) | 1.91 | 1.92 | (0.49) | 10652 | 36 |
| 15.88 | 30.84 | 1.93 | 1.94 | (0.64) | 22728 | 33 |
| 12.36 | (0.70) | 1.93 | 1.93 | (0.40) | 28372 | 19 |
| 13.75 | (19.70) | 1.91 | 1.91 | (0.22) | 45211 | 40 |
| 19.92 | 46.42 | 1.90 | 1.90 | (0.70) | 76310 | 56 |
| 19.29 | (1.73) | 1.01 | 1.01 | 0.39 | 20459 | 36 |
| 20.85 | 31.96 | 1.03 | 1.04 | 0.24 | 28952 | 33 |
| 16.06 | 0.23 | 1.02 | 1.02 | 0.53 | 26978 | 19 |
| 17.45 | (19.01) | 1.01 | 1.01 | 0.71 | 76594 | 40 |
| 24.37 | 47.76 | 1.00 | 1.00 | 0.19 | 189251 | 56 |
| 20.18 | (1.56) | 0.83 | 0.84 | 0.55 | 173968 | 36 |
| 21.74 | 32.28 | 0.83 | 0.83 | 0.44 | 195578 | 33 |
| 16.72 | 0.40 | 0.83 | 0.83 | 0.65 | 172839 | 19 |
| 18.11 | (18.83) | 0.82 | 0.82 | 0.87 | 194437 | 40 |
| 25.16 | 48.05 | 0.81 | 0.81 | 0.38 | 255539 | 56 |
| 19.89 | (1.63) | 0.91 | 0.91 | 0.49 | 271804 | 36 |
| 21.46 | 32.08 | 0.93 | 0.94 | 0.31 | 386553 | 33 |
| 16.53 | 0.33 | 0.93 | 0.93 | 0.56 | 228083 | 19 |
| 17.93 | (18.88) | 0.91 | 0.91 | 0.75 | 246040 | 40 |
| 24.95 | 47.93 | 0.89 | 0.89 | 0.28 | 412964 | 56 |
| 17.83 | (2.08) | 1.36 | 1.36 | 0.03 | 9004 | 36 |
| 19.41 | 31.53 | 1.38 | 1.39 | (0.10) | 10950 | 33 |
| 14.98 | (0.16) | 1.38 | 1.38 | 0.11 | 10682 | 19 |
| 16.38 | (19.25) | 1.36 | 1.36 | 0.33 | 12663 | 40 |
| 23.08 | 47.19 | 1.35 | 1.35 | (0.16) | 17141 | 56 |
| 17.01 | (2.24) | 1.51 | 1.51 | (0.12) | 3006 | 36 |
| 18.60 | 31.29 | 1.53 | 1.54 | (0.25) | 3829 | 33 |
| 14.39 | (0.26) | 1.53 | 1.53 | (0.04) | 3849 | 19 |
| 15.78 | (19.38) | 1.51 | 1.51 | 0.19 | 4433 | 40 |
| 22.37 | 47.03 | 1.50 | 1.50 | (0.30) | 5845 | 56 |

---

See Notes to Financial Statements. 119

**Financial Highlights (concluded)**

VALUE OPPORTUNITIES FUND

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** | **Per Share Operating Performance:** |
|  | | **Investment Operations:** | **Investment Operations:** | **Investment Operations:** | **Distributions to <br>shareholders from:** | **Distributions to <br>shareholders from:** | **Distributions to <br>shareholders from:** |
|  |<br>**Net asset<br>value,<br>beginning<br>of period** | Net<br>invest-<br>ment<br>income<br>**(loss)**<sup>(a)</sup> | **Net<br>realized<br>and<br>unrealized<br>gain/(loss)** | **Total<br>from<br>invest-<br>ment<br>opera-<br>tions** | **Net<br>investment<br>income** | **Net<br>realized<br>gain** | **Total<br>distri-<br>butions** |
| **Class R3** |  |  |  |  |  |  |  |
| 10/31/2025 | $19.04 | $– <sup>(c)</sup> | $(0.28) | $(0.28) | $– | $(1.30) | $(1.30) |
| 10/31/2024 | 14.71 | (0.03) | 4.60 | 4.57 |  | (0.24) | (0.24) |
| 10/31/2023 | 16.10 | 0.01 | 0.01 | 0.02 | (0.07) | (1.34) | (1.41) |
| 10/31/2022 | 22.75 | 0.05 | (3.82) | (3.77) |  | (2.88) | (2.88) |
| 10/31/2021 | 16.33 | (0.04) | 7.46 | 7.42 |  | (1.00) | (1.00) |
| **Class R4** |  |  |  |  |  |  |  |
| 10/31/2025 | 20.09 | 0.04 | (0.29) | (0.25) |  | (1.30) | (1.30) |
| 10/31/2024 | 15.49 | 0.02 | 4.84 | 4.86 | (0.02) | (0.24) | (0.26) |
| 10/31/2023 | 16.89 | 0.05 | – <sup>(c)</sup> | 0.05 | (0.11) | (1.34) | (1.45) |
| 10/31/2022 | 23.67 | 0.10 | (4.00) | (3.90) |  | (2.88) | (2.88) |
| 10/31/2021 | 16.95 | 0.01 | 7.75 | 7.76 | (0.04) | (1.00) | (1.04) |
| **Class R5** |  |  |  |  |  |  |  |
| 10/31/2025 | 21.48 | 0.09 | (0.32) | (0.23) | (0.04) | (1.30) | (1.34) |
| 10/31/2024 | 16.54 | 0.07 | 5.17 | 5.24 | (0.06) | (0.24) | (0.30) |
| 10/31/2023 | 17.94 | 0.10 | – <sup>(c)</sup> | 0.10 | (0.16) | (1.34) | (1.50) |
| 10/31/2022 | 24.97 | 0.16 | (4.26) | (4.10) | (0.05) | (2.88) | (2.93) |
| 10/31/2021 | 17.83 | 0.06 | 8.17 | 8.23 | (0.09) | (1.00) | (1.09) |
| **Class R6** |  |  |  |  |  |  |  |
| 10/31/2025 | 21.72 | 0.11 | (0.33) | (0.22) | (0.04) | (1.30) | (1.34) |
| 10/31/2024 | 16.71 | 0.09 | 5.23 | 5.32 | (0.07) | (0.24) | (0.31) |
| 10/31/2023 | 18.10 | 0.11 | – <sup>(c)</sup> | 0.11 | (0.16) | (1.34) | (1.50) |
| 10/31/2022 | 25.14 | 0.18 | (4.28) | (4.10) | (0.06) | (2.88) | (2.94) |
| 10/31/2021 | 17.93 | 0.09 | 8.21 | 8.30 | (0.09) | (1.00) | (1.09) |

---

<sup>(a)</sup> Calculated using average shares outstanding during the period.

<sup>(b)</sup> Total return for Classes A and C does not consider the effects of sales loads and assumes the reinvestment of all distributions. Total return for all other classes assumes the reinvestment of all distributions.

<sup>(c)</sup> Amount is less than $0.01.

<sup>(d)</sup> Realized and unrealized gain/(loss) per share does not correlate to the aggregate of the net realized and unrealized gain/(loss) in the Statement of Operations, primarily due to the timing of the sales and repurchases of the Fund's shares in relation to fluctuating market values of the Fund's portfolio.

120 *See Notes to Financial Statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Ratios to Average Net Assets:** | **Supplemental Data:** | **Supplemental Data:** |
|<br>**Net<br>asset<br>value,<br>end of<br>period** |<br>Total<br>**return**<sup>(b)</sup><br>(%) | **Total<br>expenses<br>after<br>waivers<br>and/or reim-<br>bursements<br>(%)** | **Total<br>expenses<br>(%)** | **Net<br>invest-<br>ment<br>income<br>(loss)<br>(%)** | **Net<br>assets,<br>end of<br>period<br>(000)** | **Portfolio<br>turnover<br>rate<br>(%)** |
| $17.46 | (2.13) | 1.41 | 1.41 | (0.02) | $22137 | 36 |
| 19.04 | 31.42 | 1.43 | 1.44 | (0.16) | 29584 | 33 |
| 14.71 | (0.15) | 1.43 | 1.43 | 0.07 | 26523 | 19 |
| 16.10 | (19.31) | 1.41 | 1.41 | 0.28 | 31104 | 40 |
| 22.75 | 47.20 | 1.40 | 1.40 | (0.20) | 42047 | 56 |
| 18.54 | (1.85) | 1.16 | 1.16 | 0.23 | 25373 | 36 |
| 20.09 | 31.77 | 1.18 | 1.19 | 0.09 | 28587 | 33 |
| 15.49 | 0.05 | 1.18 | 1.18 | 0.30 | 26011 | 19 |
| 16.89 | (19.09) | 1.16 | 1.16 | 0.53 | 29341 | 40 |
| 23.67 | 47.50 | 1.15 | 1.15 | 0.04 | 42666 | 56 |
| 19.91 | (1.63) | 0.90 | 0.91 | 0.47 | 1419 | 36 |
| 21.48 | 32.13 | 0.93 | 0.94 | 0.33 | 1384 | 33 |
| 16.54 | 0.32 | 0.93 | 0.93 | 0.55 | 999 | 19 |
| 17.94 | (18.91) | 0.91 | 0.91 | 0.77 | 1247 | 40 |
| 24.97 | 47.87 | 0.90 | 0.90 | 0.28 | 2066 | 56 |
| 20.16 | (1.56) | 0.83 | 0.84 | 0.57 | 16465 | 36 |
| 21.72 | 32.24 | 0.83 | 0.83 | 0.44 | 24267 | 33 |
| 16.71 | 0.40 | 0.83 | 0.83 | 0.64 | 29050 | 19 |
| 18.10 | (18.80) | 0.82 | 0.82 | 0.88 | 32138 | 40 |
| 25.14 | 48.02 | 0.81 | 0.81 | 0.39 | 44123 | 56 |

---

See Notes to Financial Statements. 121

**Notes to Financial Statements**

&nbsp;&nbsp;&nbsp;&nbsp;**1.** ORGANIZATION

Lord Abbett Securities Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company and was organized as a Delaware statutory trust on February 26, 1993.

All funds are diversified except Lord Abbett Focused Growth Fund. Effective February 7, 2025, the Focused Large Cap Value Fund's classification changed from non-diversified to diversified. This report covers the following thirteen funds (separately, a "Fund" and collectively, the "Funds") and their respective active share classes:

---

| | |
|:---|:---|
| **Funds** | **Classes** |
| Lord Abbett Alpha Strategy Fund ("Alpha Strategy Fund") | A, C, F, F3, I, R2, R3, R4, R5 and R6 |
| Lord Abbett Focused Growth Fund ("Focused Growth Fund") | A, C, F, F3, I, R3, R4, R5 and R6 |
| Lord Abbett Focused Large Cap Value Fund ("Focused Large Cap Value Fund") | A, C, F, F3, I, R3, R4, R5 and R6 |
| Lord Abbett Focused Small Cap Value Fund ("Focused Small Cap Value Fund") | A, C, F, F3, I, R5 and R6 |
| Lord Abbett Fundamental Equity Fund ("Fundamental Equity Fund") | A, C, F, F3 I, P, R2, R3, R4, R5 and R6 |
| Lord Abbett Global Equity Fund ("Global Equity Fund") | A, C, F, F3, I, R3, R4, R5 and R6 |
| Lord Abbett Growth Leaders Fund ("Growth Leaders Fund") | A, C, F, F3, I, R2, R3, R4, R5 and R6 |
| Lord Abbett Health Care Fund ("Health Care Fund") | A, C, F, F3, I, R3, R4, R5 and R6 |
| Lord Abbett International Equity Fund ("International Equity Fund") | A, C, F, F3, I, P, R2, R3, R4, R5 and R6 |
| Lord Abbett International Opportunities Fund ("International Opportunities Fund") | A, C, F, F3, I, P, R2, R3, R4, R5 and R6 |
| Lord Abbett International Value Fund ("International Value Fund") | A, C, F, F3, I, R2, R3, R4, R5 and R6 |
| Lord Abbett Micro-Cap Growth Fund ("Micro Cap Growth Fund") | A, C, F and I |
| Lord Abbett Value Opportunities Fund ("Value Opportunities Fund") | A, C, F, F3, I, P, R2, R3, R4, R5 and R6 |

---

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

Each of Focused Large Cap Value Fund's, Global Equity Fund's, Health Care Fund's and International Equity Fund's investment objective is to seek long-term capital appreciation. Alpha Strategy Fund's, Focused Small Cap Value Fund's, International Opportunities Fund's, Micro Cap Growth Fund's and Value Opportunities Fund's investment objective is long-term capital appreciation. Alpha Strategy Fund invests principally in other funds ("Underlying Funds") managed by Lord, Abbett & Co. LLC ("Lord Abbett"). Fundamental Equity Fund's investment objective is long-term growth of capital and income without excessive fluctuations in market value. Growth Leaders Fund's and Focused Growth Fund's investment objective is to seek capital appreciation. International Value Fund's investment objective is to seek a high level of total return.

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

**Notes to Financial Statements (continued)**

accepted, provided that the Fund or financial intermediary through which a shareholder purchased Class C shares has records verifying that the Class C shares have been held at least eight years.

**Basis of Preparation**

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

**Segment Reporting**

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

The CODM for the Funds is Lord Abbett through its Management, Investment and Operating Committees, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that each Fund has a single operating segment based on the fact that the CODM monitors the operating results of each Fund as a whole and that the Funds' long-term strategic asset allocation is pre-determined in accordance with the terms of their prospectus, based on a defined investment strategy which is executed by the Funds' portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Funds' Schedules of Investments, Statements of Assets and Liabilities, Statements of Operations, Statements of Changes in Net Assets and Financial Highlights.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** SIGNIFICANT ACCOUNTING POLICIES

---

| | |
|:---|:---|
| (a) | Investment Valuation–Under procedures approved by the Funds' Board of Trustees (the "Board"), the Board has designated the determination of fair value of the Funds' portfolio investments to Lord Abbett, as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a pricing committee (the "Pricing Committee") that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value. |
|  | Securities actively traded on any recognized U.S. or non-U.S. exchange or on the NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange ("NYSE"). When valuing foreign equity securities that meet certain criteria, the Pricing Committee uses |

---

**Notes to Financial Statements (continued)**

---

| |
|:---|
| a third-party fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Investments in the Underlying Funds are valued at their NAV each business day at the close of regular trading on the NYSE, normally 4:00 p.m. Eastern time. |
| Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee. |
| Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. Investments in open-end money market mutual funds are valued at their NAV as of the close of each business day. |
| Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Level 1 – unadjusted quoted prices in active markets for identical investments;

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

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

**Notes to Financial Statements (continued)**

---

| | |
|:---|:---|
|  | A summary of inputs used in valuing each Fund's investments as of October 31, 2025 and, if applicable, Level 3 rollforwards for the fiscal year then ended is included in each Fund's Schedule of Investments. |
|  | Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. |
| (b) | Expenses–Expenses incurred by the Trust that do not specifically relate to an individual fund are generally allocated to the Funds within the Trust on a pro rata basis by relative net assets. Expenses, excluding class-specific expenses, are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. In addition, Class F3 and R6 shares bear only their class-specific shareholder servicing expenses. Class A, C, F, P, R2, R3 and R4 shares bear their class-specific share of all expenses and fees relating to the Funds' 12b-1 Distribution Plan. |
| (c) | Foreign Taxes–The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividend, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable tax regulations and rates that exist in foreign jurisdictions which each Fund invests. These foreign taxes, if any, are paid by each Fund and reflected in its Statement of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income and foreign taxes on stock dividends are presented as a reduction of dividends, and foreign taxes on gains from sales of investments and foreign taxes on currency transactions are included in their respective net realized gain/(loss) categories. Foreign taxes payable or deferred as of October 31, 2025, if any, are disclosed on the Statements of Assets and Liabilities. |
|  | The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction applicable to the laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes. |
| (d) | Foreign Transactions–The books and records of each Fund are maintained in U.S. dollars and transactions denominated in foreign currencies are recorded in each Fund's records at the rate prevailing when earned or recorded. Asset and liability accounts that are denominated in foreign currencies are adjusted daily to reflect current exchange rates and any unrealized gain/(loss), if applicable, is included in Net change in unrealized appreciation/(depreciation) on translation of assets and liabilities denominated in foreign currencies in each Fund's Statement of Operations. The resultant exchange gains and losses upon settlement of such transactions, if applicable, are included in Net realized gain/(loss) on foreign currency related transactions in each Fund's Statement of Operations. The Funds do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in market prices of the securities. |
|  | Each Fund uses foreign currency exchange contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms. |

---

**Notes to Financial Statements (continued)**

---

| | |
|:---|:---|
| (e) | Income Taxes–It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required. |
|  | Management has reviewed each Fund's tax positions for all open tax years and has determined that as of October 31, 2025, no liability for Federal Income tax is required in each Fund's financial statements for net unrecognized tax benefits. However, management's conclusions may be subject to future review based on changes in, or the interpretation of, the accounting standards or tax laws and regulations. Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. Each Fund's Federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. The statutes of limitations on each Fund's state and local tax returns may remain open for an additional year depending upon each Fund's jurisdiction. |
| (f) | Investment Income–Dividend income, if any, is recorded on the ex-dividend date. Interest income is recorded on the accrual basis as earned. Discounts are accreted and premiums are amortized using the effective interest method and are included in Interest and other, if applicable, in the Statements of Operations. Withholding taxes on foreign dividends, if applicable, have been provided for in accordance with the applicable country's tax rules and rates. Investment income is allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. |
| (g) | Repurchase Agreements–Each Fund may enter into repurchase agreements with respect to securities. A repurchase agreement is a transaction in which a fund acquires a security and simultaneously commits to resell that security to the seller (a bank or securities dealer) at an agreed-upon price on an agreed-upon date. Each Fund requires at all times that the repurchase agreement be collateralized by cash, or by securities of the U.S. Government, its agencies, its instrumentalities, or U.S. Government sponsored enterprises having a value equal to, or in excess of, the value of the repurchase agreement (including accrued interest). If the seller of the agreement defaults on its obligation to repurchase the underlying securities at a time when the fair value of these securities has declined, each Fund may incur a loss upon disposition of the securities. |
|  | Due to the absence of a master netting agreement related to the Funds' participation in repurchase agreements, no offsetting disclosures have been made on behalf of the Funds. |
| (h) | Security Transactions–Security transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Realized and unrealized gains/(losses) are allocated to each class of shares based upon the relative proportion of net assets at the beginning of the day. |
| (i) | When-Issued or Forward Transactions–Each Fund may purchase portfolio securities on a when-issued or forward basis. When-issued or forward transactions involve a commitment by a Fund to purchase securities, with payment and delivery ("settlement") to take place in the future, in order to secure what is considered to be an advantageous price or yield at the time of entering into the transaction. During the period between purchase and settlement, the fair value of the securities will fluctuate and assets consisting of cash and/or marketable securities (normally short-term U.S. Government or U.S. Government sponsored enterprise securities) marked to market daily in an amount sufficient to make payment at settlement will be |

---

**Notes to Financial Statements (continued)**

segregated at each Fund's custodian in order to pay for the commitment. At the time each Fund makes the commitment to purchase a security on a when-issued basis, it will record the transaction and reflect the liability for the purchase and fair value of the security in determining its NAV. Each Fund, generally, has the ability to close out a purchase obligation on or before the settlement date rather than take delivery of the security. Under no circumstances will settlement for such securities take place more than 120 days after the purchase date.

&nbsp;&nbsp;&nbsp;&nbsp;**3.** MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES

**Management Fee**

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

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

---

| | |
|:---|:---|
| **Alpha Strategy Fund\*** | .10% |

---

\* Lord Abbett is voluntarily waiving the entire management fee of .10%. Lord Abbett may discontinue the voluntary waiver at any time without notice.

---

| | |
|:---|:---|
| **Focused Growth Fund** |  |
| First $1 billion | .65% |
| Next $1 billion | .63% |
| Next $5 billion | .60% |
| Over $7 billion | .59% |
| **Focused Large Cap Value Fund** |  |
| First $1 billion | .59% |
| Over $1 billion | .53% |
| **Focused Small Cap Value Fund** | .80% |
| **Fundamental Equity Fund** |  |
| First $200 million | .75% |
| Next $300 million | .65% |
| Over $500 million | .50% |
| **Global Equity Fund** |  |
| First $1 billion | .45% |
| Next $2 billion | .43% |
| Over $3 billion | .41% |
| **Growth Leaders Fund** |  |
| First $2 billion | .55% |
| Over $2 billion | .50% |
| **Health Care Fund** |  |
| First $1 billion | .62% |
| Over $1 billion | .51% |
| **International Equity Fund** |  |
| First $1 billion | .45% |
| Over $1 billion | .40% |

---

**Notes to Financial Statements (continued)**

---

| | |
|:---|:---|
| **International Opportunities Fund** |  |
| First $1 billion | .75% |
| Next $1 billion | .70% |
| Over $2 billion | .65% |
| **International Value Fund** |  |
| First $1 billion | .50% |
| Over $1 billion | .48% |
| **Micro Cap Growth Fund** | .90% |
| **Value Opportunities Fund** |  |
| First $1 billion | .75% |
| Next $1 billion | .70% |
| Next $3 billion | .65% |
| Over $5 billion | .58% |

---

For the fiscal year ended October 31, 2025, the effective management fee, net of any applicable waivers, was at the following annualized rate of each Fund's average daily net assets:

---

| | |
|:---|:---|
| **Fund** | **Net Effective**<br> **Management Fee** |
| Alpha Strategy Fund | .00% |
| Focused Growth Fund | .47% |
| Focused Large Cap Value Fund | .06% |
| Focused Small Cap Value Fund | .74% |
| Fundamental Equity Fund | .55% |
| Global Equity Fund | .34% |
| Growth Leaders Fund | .51% |
| Health Care Fund | .00% |
| International Equity Fund | .45% |
| International Opportunities Fund | .75% |
| International Value Fund | .50% |
| Micro Cap Growth Fund | .90% |
| Value Opportunities Fund | .74% |

---

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

Lord Abbett voluntarily waived certain fees and expenses during the fiscal year ended October 31, 2025:

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| Alpha Strategy Fund | $13124 |
| Fundamental Equity Fund | 28744 |
| Growth Leaders Fund | 74709 |
| International Equity Fund | 80406 |
| International Opportunities Fund | 106416 |
| International Value Fund | 88806 |
| Micro Cap Growth Fund | 9634 |
| Value Opportunities Fund | 63255 |

---

**Notes to Financial Statements (continued)**

For the fiscal year ended October 31, 2025 and continuing through February 28, 2026, Lord Abbett has contractually agreed to waive its fees and reimburse expenses to the extent necessary to limit total net annual operating expenses, excluding certain of the Funds' expenses to the following annual rates:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Effective March 1, 2025** | **Effective March 1, 2025** | **Prior to March 1, 2025** | **Prior to March 1, 2025** |
| | **Classes** | **Classes** | **Classes** | **Classes** |
| **Fund** | **A, C, F, I, R2, R3, <br> R4 and R5** | **F3 and R6** | **A, C, F, I, R2, R3,<br> R4 and R5** | **F3 and R6** |
| Focused Growth Fund | .80% | .70% | .80% | .65% |
| Focused Large Cap Value Fund | .71% | .69% | .71% | .67% |
| Focused Small Cap Value Fund | 1.03% | .99% | 1.03% | .98% |
| Global Equity Fund | .65% | .52% | .65% | .51% |
| Health Care Fund | .78% | .68% | .78% | .60% |

---

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

**12b-1 Distribution Plan**

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fees\*** | **Class A** | **Class C** | **Class F**<sup>(1)(2)</sup> | **Class P**<sup>(3)</sup> | **Class R2** | **Class R3** | **Class R4** |
| Service | .25% | .25% |  | .25% | .25% | .25% | .25% |
| Distribution |  | .75% | .10% | .20% | .35% | .25% |  |

---

---

| | |
|:---|:---|
| <sup>\*</sup> | The Funds may designate a portion of the aggregate fees attributable to service activities for purposes of calculating Financial Industry Regulatory Authority, Inc. sales charge limitations. |
| <sup>(1)</sup> | The Class F shares Rule 12b-1 fee may be designated as a service fee in limited circumstances as described in the Funds' prospectus. |
| <sup>(2)</sup> | For the year ended October 31, 2025 and continuing through February 28, 2026, the Distributor has contractually agreed to waive Focused Growth Fund's, Focused Large Cap Value Fund's, Focused Small Cap Value Fund's, Growth Leaders Fund's, Health Care Fund's and Micro Cap Growth Fund's 0.10% Rule 12b-1 fee for Class F shares. These agreements may be terminated only by the Funds' Board. |
| <sup>(3)</sup> | Fundamental Equity Fund, International Equity Fund, International Opportunities Fund and Value Opportunities Fund only. |

---

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

**Notes to Financial Statements (continued)**

**Commissions**

The Distributor received the following commissions on sales of shares of the Funds, after concessions were paid to authorized dealers, during the fiscal year ended October 31, 2025:

---

| | | |
|:---|:---|:---|
| | **Distributor<br>Commissions** | **Dealers'<br>Concessions** |
| Alpha Strategy Fund | $21762 | $123715 |
| Focused Growth Fund | 23551 | 134951 |
| Focused Large Cap Value Fund | 9480 | 60632 |
| Focused Small Cap Value Fund | 1308 | 8216 |
| Fundamental Equity Fund | 64471 | 430022 |
| Global Equity Fund | 32930 | 291522 |
| Growth Leaders Fund | 403584 | 2531773 |
| Health Care Fund | 799 | 4929 |
| International Equity Fund | 20222 | 133496 |
| International Opportunities Fund | 6281 | 40389 |
| International Value Fund | 24472 | 143523 |
| Micro Cap Growth Fund | 895 | 5813 |
| Value Opportunities Fund | 29758 | 166215 |

---

The Distributor received the following amounts of CDSCs for the fiscal year ended October 31, 2025:

---

| | | |
|:---|:---|:---|
| | **Class A** | **Class C** |
| Alpha Strategy Fund | $6240 | $1042 |
| Focused Growth Fund |  | 110 |
| Focused Large Cap Value Fund |  | 20 |
| Focused Small Cap Value Fund |  | 181 |
| Fundamental Equity Fund | 104 | 670 |
| Global Equity Fund | 577 | 331 |
| Growth Leaders Fund | 23900 | 28480 |
| Health Care Fund |  | 15 |
| International Equity Fund | 593 | 89 |
| International Opportunities Fund | 552 | 106 |
| International Value Fund | 2134 | 19 |
| Micro Cap Growth Fund |  | 39 |
| Value Opportunities Fund | 1087 | 457 |

---

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

**Other Related Parties**

As of October 31, 2025, the percentage of Focused Small Cap Value Fund's, Fundamental Equity Fund's, Growth Leaders Fund's, International Equity Fund's, International Opportunities Fund's, International Value Fund's, Micro Cap Growth Fund's and Value Opportunities Fund's outstanding shares owned by each fund of funds were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund of Funds** | **Focused**<br> **Small Cap**<br> **Value Fund** | **Funda-**<br> **mental**<br> **Equity**<br> **Fund** | **Growth**<br> **Leaders**<br> **Fund** | **Inter-**<br> **national**<br> **Equity**<br> **Fund** | **Inter-**<br> **national**<br> **Oppor-**<br> **tunities**<br> **Fund** | **Inter-**<br> **national**<br> **Value**<br> **Fund** | **Micro**<br> **Cap**<br> **Growth**<br> **Fund** | **Value**<br> **Oppor-**<br> **tunities**<br> **Fund** |
| Alpha Strategy Fund | 67.84% |  |  |  | 36.95% |  | 32.03% | 10.44% |
| Multi-Asset Balanced Opportunity Fund |  | 11.90% | 2.77% | 17.97% |  | 16.81% |  | 4.21% |
| Multi-Asset Income Fund |  | 2.77% | 0.64% | 8.00% |  | 6.74% |  |  |

---

**Notes to Financial Statements (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;**4.** DISTRIBUTIONS AND TAX INFORMATION

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

The tax character of distributions paid during the fiscal year ended October 31, 2025 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Ordinary<br>Income** | **Net<br>Long-Term<br>Capital Gains** | **Return of<br>Capital** | **Total<br>Distributions<br>Paid** |
| Alpha Strategy Fund | $1036715 | $4278690 | $– $| 5315405 |
| Focused Growth Fund |  |  | – |  |
| Focused Large Cap Value Fund | 467552 | 208371 | – | 675923 |
| Focused Small Cap Value Fund |  | 6604552 | – | 6604552 |
| Fundamental Equity | 36019343 | 93357484 | – | 129376827 |
| Global Equity Fund | 492077 |  | – | 492077 |
| Growth Leaders Fund |  |  | – |  |
| Health Care Fund | 28985 |  | – | 28985 |
| International Equity Fund | 4976901 | 8698818 | – | 13675719 |
| International Opportunities Fund | 5869333 |  | – | 5869333 |
| International Value Fund | 13910965 |  | – | 13910965 |
| Micro Cap Growth Fund |  |  | – |  |
| Value Opportunities Fund | 1247992 | 84791291 | – | 86039283 |

---

The tax character of distributions paid during the fiscal year ended October 31, 2024 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Ordinary<br>Income** | **Net<br>Long-Term<br>Capital Gains** | **Return of<br>Capital** | **Total<br>Distributions<br>Paid** |
| Alpha Strategy Fund | $624620 | $2616071 | $– $| 3240691 |
| Focused Growth Fund |  |  | – |  |
| Focused Large Cap Value Fund |  |  | – |  |
| Focused Small Cap Value Fund | 238360 |  | – | 238360 |
| Fundamental Equity | 17300969 |  | – | 17300969 |
| Global Equity Fund | 174871 |  | – | 174871 |
| Growth Leaders Fund |  |  | – |  |
| Health Care Fund |  |  | – |  |
| International Equity Fund | 5906022 |  | – | 5906022 |
| International Opportunities Fund | 5235809 |  | – | 5235809 |
| International Value Fund | 15086150 |  | – | 15086150 |
| Micro Cap Growth Fund |  |  | – |  |
| Value Opportunities Fund | 4691638 | 13979488 | – | 18671126 |

---

**Notes to Financial Statements (continued)**

As of October 31, 2025, the components of distributable earnings/(loss) on a tax basis were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Undistributed<br>Tax-Exempt<br>Income** | **Undistributed<br>Ordinary<br>Income** | **Undistributed<br>Net<br>Long-Term<br>Capital Gains** | **Accumulated<br>Capital and<br>Other Losses** | **Unrealized<br>Appreciation/<br>(Depreciation)** | **Temporary<br>Differences** | **Total<br>Distributable<br>Earnings/<br>(Loss)** |
| Alpha Strategy Fund | $– &nbsp;&nbsp;&nbsp;&nbsp;$|  | $30434566 | $(1818048) | $61036883 | $(110093) | $89543308 |
| Focused Growth Fund | – |  |  | (3853589) | 55062543 | (7941) | 51201013 |
| Focused Large Cap Value Fund | – | 258755 | 189527 |  | 11708557 | (46337) | 12110502 |
| Focused Small Cap Value Fund | – | 88939 | 3798933 |  | 10446396 | (16331) | 14317937 |
| Fundamental Equity | – | 10017153 | 147052555 |  | 749094728 | (407988) | 905756448 |
| Global Equity Fund | – | 2013765 |  | (2973617) | 43204499 | (4569) | 42240078 |
| Growth Leaders Fund | – |  | 156848424 | (36623394) | 3777670833 | (573679) | 3897322184 |
| Health Care Fund | – | 16456 |  | (951380) | 2628228 | (2647) | 1690657 |
| International Equity Fund | – | 5497816 | 21159471 |  | 121014956 | (75296) | 147596947 |
| International Opportunities Fund | – | 5308983 |  | (31698452) | 55534950 | (60861) | 29084620 |
| International Value Fund | – | 761464 |  | (349743170) | 73246232 | (107535) | (275843009) |
| Micro Cap Growth Fund | – |  |  | (40338968) | 67979523 | (22724) | 27617831 |
| Value Opportunities Fund | – | 1111234 | 59788152 |  | 241341735 | (257663) | 301983458 |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Short-Term<br>Losses** | **Long-Term<br>Losses** | **Net Capital<br>Losses** |
| Alpha Strategy Fund | $– | $– | $– |
| Focused Growth Fund | (3190362) |  | (3190362) |
| Focused Large Cap Value Fund |  |  |  |
| Focused Small Cap Value Fund |  |  |  |
| Fundamental Equity |  |  |  |
| Global Equity Fund | (2973617) |  | (2973617) |
| Growth Leaders Fund |  |  |  |
| Health Care Fund | (951380) |  | (951380) |
| International Equity Fund |  |  |  |
| International Opportunities Fund | (23162576) | (8535876) | (31698452) |
| International Value Fund | (202054830) | (147688340) | (349743170) |
| Micro Cap Growth Fund | (39042791) |  | (39042791) |
| Value Opportunities Fund |  |  |  |

---

**Notes to Financial Statements (continued)**

At each Fund's election, certain losses incurred within the taxable year are deemed to arise on the first business day of the Fund's next taxable year. The Funds incurred and will elect to defer qualified late-year ordinary losses and/or post-October capital losses as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Late-Year<br>Ordinary Losses** | **Short-Term<br>Losses** | **Long-Term<br>Losses** |
| Alpha Strategy Fund | $(1818048) | $– $|  |
| Focused Growth Fund | (663227) | – |  |
| Focused Large Cap Value Fund |  | – |  |
| Focused Small Cap Value Fund |  | – |  |
| Fundamental Equity |  | – |  |
| Global Equity Fund |  | – |  |
| Growth Leaders Fund | (36623394) | – |  |
| Health Care Fund |  | – |  |
| International Equity Fund |  | – |  |
| International Opportunities Fund |  | – |  |
| International Value Fund |  | – |  |
| Micro Cap Growth Fund | (1296177) | – |  |
| Value Opportunities Fund |  | – |  |

---

As of October 31, 2025, the tax cost of investments and the breakdown of unrealized appreciation/(depreciation) for each Fund are shown below. The difference between book-basis and tax basis unrealized appreciation/(depreciation) is attributable to the tax treatment of certain securities, other financial instruments, amortization of premium, and wash sales.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Tax Cost of<br>Investments** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>Depreciation** | **Net<br>Unrealized<br>Appreciation/<br>(Depreciation)** |
| Alpha Strategy Fund | $552476952 | $61036883 | $– | $61036883 |
| Focused Growth Fund | 119813755 | 57681299 | (2618756) | 55062543 |
| Focused Large Cap Value Fund | 71515572 | 12688195 | (983659) | 11704536 |
| Focused Small Cap Value Fund | 76103236 | 13394528 | (2948132) | 10446396 |
| Fundamental Equity | 1330745350 | 769109204 | (20033380) | 749075824 |
| Global Equity Fund | 293142535 | 49274108 | (6055927) | 43218181 |
| Growth Leaders Fund | 4576453245 | 3825849520 | (48178687) | 3777670833 |
| Health Care Fund | 5799516 | 2669960 | (41725) | 2628235 |
| International Equity Fund | 380244031 | 124805146 | (3395045) | 121410101 |
| International Opportunities Fund | 271546470 | 62692495 | (7165040) | 55527455 |
| International Value Fund | 390746652 | 82461047 | (9330496) | 73130551 |
| Micro Cap Growth Fund | 156900301 | 69638443 | (1658920) | 67979523 |
| Value Opportunities Fund | 845426304 | 289706780 | (48365045) | 241341735 |

---

**Notes to Financial Statements (continued)**

Permanent items identified, as shown below, have been reclassified among the components of net assets based on their tax treatment. The permanent differences are primarily attributable to tax treatment of certain distributions and net operating loss.

---

| | | |
|:---|:---|:---|
| **Fund** | **Total Distributable<br>Earnings/(Loss)** | **Paid-in Capital** |
| Alpha Strategy Fund | $(3546536) | $3546536 |
| Focused Growth Fund | 383692 | (383692) |
| Focused Large Cap Value Fund |  |  |
| Focused Small Cap Value Fund |  |  |
| Fundamental Equity | (11657560) | 11657560 |
| Global Equity Fund | (16273) | 16273 |
| Growth Leaders Fund | 29788659 | (29788659) |
| Health Care Fund |  |  |
| International Equity Fund |  |  |
| International Opportunities Fund |  |  |
| International Value Fund |  |  |
| Micro Cap Growth Fund | 308899 | (308899) |
| Value Opportunities Fund | (6479502) | 6479502 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**5.** PORTFOLIO SECURITIES TRANSACTIONS

Purchases and sales of investment securities (excluding short-term investments) for the fiscal year ended October 31, 2025 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **U.S.<br>Government<br>Purchases** | **Non-U.S.<br>Government<br>Purchases** | **U.S.<br>Government<br>Sales** | **Non-U.S.<br>Government<br>Sales** |
| Alpha Strategy Fund | $– $| 24988186 | $– $| 69156592 |
| Focused Growth Fund | – | 157496936 | – | 91222069 |
| Focused Large Cap Value Fund | – | 61605763 | – | 16610878 |
| Focused Small Cap Value Fund | – | 71132456 | – | 85709577 |
| Fundamental Equity Fund | – | 817587980 | – | 943147662 |
| Global Equity Fund | – | 345101727 | – | 106140459 |
| Growth Leaders Fund | – | 5063667986 | – | 5433994000 |
| Health Care Fund | – | 7111910 | – | 7765441 |
| International Equity Fund | – | 474836430 | – | 386314071 |
| International Opportunities Fund | – | 298485998 | – | 326873234 |
| International Value Fund | – | 276869885 | – | 300075153 |
| Micro Cap Growth Fund | – | 198681302 | – | 227841341 |
| Value Opportunities Fund | – | 431377370 | – | 662409861 |

---

Each Fund is permitted to purchase and sell securities ("cross-trade") from and to other Lord Abbett funds or client accounts pursuant to procedures approved by the Board in compliance with Rule 17a-7 under the 1940 Act (the "Rule"). Each cross-trade is executed at a fair market price in compliance with provisions of the Rule. For the fiscal year ended October 31, 2025, the following Funds engaged in cross-trades:

---

| | | |
|:---|:---|:---|
| **Fund** | **Sales** | **Net Realized<br>Gain/(Loss)** |
| Focused Small Cap Value Fund | $173320 | $6540 |
| Micro Cap Growth Fund | 90936 | 35518 |

---

**Notes to Financial Statements (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;**6.** TRUSTEES' REMUNERATION

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

&nbsp;&nbsp;&nbsp;&nbsp;**7.** LINE OF CREDIT

For the period ended June 5, 2025, the Funds (except Alpha Strategy Fund), and certain other funds managed by Lord Abbett (collectively, the "Participating Funds") were party to a syndicated line of credit facility with various lenders for $1.6 billion (the "Syndicated Facility") under which State Street Bank and Trust Company ("SSB") participated as a lender and as agent for the lenders. The Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million, $700 million or $1 billion, in each case based on past borrowings and likelihood of future borrowings, among other factors.

Effective June 6, 2025, the Participating Funds (except Alpha Strategy Fund) renewed the Syndicated Facility for $1.675 billion. The Participating Funds are subject to graduated borrowing limits of the lesser of either one-third or one- fifth of unencumbered fund net assets and $250 million, $300 million, $700 million or $1 billion, in each case based on past borrowings and likelihood of future borrowings, among other factors.

For the period ended June 5, 2025, the Participating Funds (except Alpha Strategy Fund) were also party to an additional uncommitted line of credit facility with SSB for $330 million (the "Bilateral Facility"). Under the Bilateral Facility, the Participating Funds were subject to graduated borrowing limits of the lesser of either one-third or one-fifth of unencumbered fund net assets and $250 million based on past borrowings and likelihood of future borrowings, among other factors.

Effective June 6, 2025, the Participating Funds (except Alpha Strategy Fund) renewed the Bilateral Facility in the same amount. The Participating Funds remain subject to the same borrowing limits as were in place prior to the renewal.

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

For the fiscal year ended October 31, 2025, the Funds did not utilize the Syndicated Facility or Bilateral Facility.

&nbsp;&nbsp;&nbsp;&nbsp;**8.** INTERFUND LENDING PROGRAM

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

**Notes to Financial Statements (continued)**

During the fiscal year ended October 31, 2025, the Funds did not participate as a borrower or lender in the Interfund Lending Program.

&nbsp;&nbsp;&nbsp;&nbsp;**9.** CUSTODIAN AND ACCOUNTING AGENT

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

&nbsp;&nbsp;&nbsp;&nbsp;**10.** TRANSACTIONS WITH AFFILIATED ISSUERS

An affiliated issuer is one in which a Fund has ownership of at least 5% of the outstanding voting securities of the underlying issuer at any point during the fiscal year or any company which is under common ownership or control. Alpha Strategy Fund had the following transactions with affiliated issuers (i.e. the Underlying Funds) during the fiscal year ended October 31, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated funds** | **Value at<br>10/31/2024** | **Purchases<br>at Cost** | **Proceeds<br>from Sales** | **Net<br>Realized<br>Gain/(Loss)** | **Net Change in<br>Appreciation/<br>(Depreciation)** | **Value at<br>10/31/2025** | **Shares<br>as of<br>10/31/2025** | **Dividend<br>Income** | **Capital<br>Gain<br>Distributions** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | $125631946 | $418572 | $(19062973) | $5342492 | $17972001 | $130302038 | 3734653 | $260643 | $– |
| Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I | 62738156 | 4086825 | (3413662) | (101677) | (4085175) | 59224467 | 2072235 |  | 4086826 |
| Lord Abbett Securities Trust - International Opportunities Fund - Class I | 120425318 | 2534129 | (20557775) | 4095981 | 12434050 | 118931703 | 5257812 | 2382740 |  |
| Lord Abbett Securities Trust - Micro Cap Growth Fund - Class I | 64645294 | 180090 | (10031768) | 3917752 | 9797189 | 68508557 | 2730512 |  |  |
| Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I | 126277568 | 9827793 | (9036658) | (646725) | (8293160) | 118128818 | 5773647 | 247791 | 9300714 |
| Lord Abbett Securities Trust - Value Opportunities Fund - Class I | 127069955 | 7940777 | (7053756) | 210120 | (10015276) | 118151820 | 5940262 | 259151 | 7681626 |
| Total | $626788237 | $24988186 | $(69156592) | $12817943 | $17809629 | $613247403 |  | $3150325 | $21069166 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**11.** SECURITIES LENDING AGREEMENT

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

**Notes to Financial Statements (continued)**

repurchasing securities on loan. Any income earned from securities lending is included in Securities lending net income, if any, in each Fund's Statement of Operations.

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

As of October 31, 2025, the market value of securities loaned and collateral received were as follows:

---

| | | |
|:---|:---|:---|
| **Funds** | **Market Value of<br>Securities Loaned** | **Collateral Received**<sup>(1)</sup> |
| International Equity Fund | $2923550 | $3115981 |
| International Opportunities Fund | 5292218 | 5414749 |
| Micro Cap Growth Fund | 16269622 | 16614940 |
| Value Opportunities Fund | 784954 | 797958 |

---

<sup>(1)</sup> Statements of Assets and Liabilities location: Payables: Collateral due to broker for securities lending.

&nbsp;&nbsp;&nbsp;&nbsp;**12.** INVESTMENT RISKS

Each Fund is subject to the general risks and considerations associated with equity investing. The value of the Funds' investments will fluctuate in response to movements in the equity securities markets in general and to the changing prospects of individual companies in which the Funds invest. If a Fund's assessment of a company's value or prospects for exceeding earnings expectations or market conditions is wrong, the Fund could suffer losses or produce poor performance relative to other funds, even in a favorable market.

Large company stocks, in which Focused Growth Fund, Focused Large Cap Value Fund, Fundamental Equity Fund, Global Equity Fund, Growth Leaders Fund, International Equity Fund and International Value Fund invest, may perform differently than the market as a whole and other types of stocks, such as small company stocks. Small and mid-sized company stocks, in which Alpha Strategy Fund, Focused Small Cap Value Fund, Focused Growth Fund, Fundamental Equity Fund, Growth Leaders Fund, International Equity Fund, International Opportunities Fund and Value Opportunities Fund invest, and stocks of micro-cap companies, in which Micro Cap Growth Fund invests, may be less able to weather economic shifts or other adverse developments than those of larger, more established companies.

In general, Focused Growth Fund and Growth Leaders Fund employ a growth investing style, Global Equity Fund employs a blended growth investing and value investing style, and Focused Large Cap Value Fund, Focused Small Cap Value Fund, Fundamental Equity Fund, International Value Fund and Value Opportunities Fund employ a value investing style. Growth stocks generally are more volatile than value stocks. The price of value stocks may lag the market for long periods of time.

Global Equity Fund, International Equity Fund, International Opportunities Fund and International Value Fund are subject to the risks of investing in foreign securities. Foreign securities may pose greater risks than domestic securities, including greater price fluctuations, economic, political, and social instability and subject to less government supervision, lack of transparency, inadequate regulatory and accounting standards, foreign taxes, and higher transaction costs. Foreign investments also may be affected by changes in currency rates or currency controls. These risks are

**Notes to Financial Statements (continued)**

generally greater for securities issued by companies in emerging market companies. Similarly, due to their investments in multinational and foreign companies, Alpha Strategy Fund, Focused Growth Fund, Focused Large Cap Value Fund, Focused Small Cap Value Fund, Fundamental Equity Fund, Growth Leaders Fund, Health Care Fund, and Value Opportunities Fund are subject to the risks of investing in foreign securities and similarly may experience increased market, liquidity, currency, political, informational, and other risks.

Health Care Fund is subject to the risks of investing in the health care sector, including changes in government regulations, dependence on patents and intellectual property rights, expenses and losses from litigation based on product liability and similar claims, industry competition, extensive research and development, marketing, and sales costs, and rapid technological change and potential for product obsolescence. Health Care Fund is also subject to the risks of investing in structured securities. As a result, Health Care Fund is subject to the same risks associated with direct investments in the underlying securities or other instruments they seek to replicate, as well as liquidity risk and the risk that the issuer and/or the counterparty of the structured security may be unable to perform under the terms of the instrument, or may disagree as to the meaning or application of such terms.

International Value Fund is subject to the risks of investing in dividend paying stocks. Dividend paying stocks may be sensitive to changes in market interest rates, and the prices of such stocks may decline as rates rise. There is no guarantee that companies that currently pay dividends will continue to do so. Securities of dividend-paying companies that meet the Fund's investment criteria may not be widely available, limiting the Fund's ability to produce current income and increasing the volatility of the Fund's returns.

Alpha Strategy Fund's investments are concentrated in the Underlying Funds and, as a result, the Fund's performance is directly related to the investment performance of the Underlying Funds in which it invests. In addition, the Fund is exposed to the same risks as the Underlying Funds in direct proportion to the allocation of its assets among the Underlying Funds. The Fund's shareholders will indirectly bear their proportionate share of the underlying funds' fees and expenses, as well as their proportionate share of the Fund's fees and expenses.

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

Health Care Fund, Focused Large Cap Value Fund and Focused Small Cap Value Fund are subject to the general risks and considerations associated with investing in fixed income securities. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates rise, the prices of fixed income securities are likely to decline; when interest rates fall, such prices tend to rise. Longer-term securities are usually more sensitive to interest rate changes. There is also the risk that an issuer of a fixed income security will fail to make timely payments of principal and/or

**Notes to Financial Statements (continued)**

interest to a Fund, a risk that is greater with high-yield bonds (sometimes called "junk bonds") in which one or more of the Funds may invest. Some issuers, particularly of high-yield bonds, may default as to principal and/or interest payments after a Fund purchases their securities. A default, or concerns in the market about an increase in risk of default, may result in losses to each Fund. High-yield bonds are subject to greater price fluctuations and increased liquidity risk, as well as additional risks.

Focused Growth Fund is non-diversified mutual funds under the 1940 Act. The value of the Fund's investments may be more adversely affected by a single economic, political or regulatory event than the value of the investments of a diversified mutual fund.

A Fund's gross expense ratio may fluctuate during its initial operating period because of the Fund's relatively smaller asset size and, until the Fund achieves sufficient scale, a Fund shareholder may experience proportionally higher Fund expenses than would be experienced by shareholders of a fund with a larger asset base.

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;**13.** SUMMARY OF CAPITAL TRANSACTIONS

Transactions in shares of beneficial interest were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alpha Strategy Fund** | | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 575990 | $14910959 | 986002 | $23269098 |
| Reinvestment of distributions | 113050 | 2931379 | 72478 | 1661203 |
| Shares reacquired | (2508055) | (65613761) | (2814610) | (67421019) |
| Decrease | (1819015) | $(47771423) | (1756130) | $(42490718) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 49590 | $942592 | 52741 | $904067 |
| Reinvestment of distributions | 5196 | 98929 | 4403 | 74756 |
| Shares reacquired | (202650) | (3864677) | (422538) | (7459712) |
| Decrease | (147864) | $(2823156) | (365394) | $(6480889) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Alpha Strategy Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class F Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 7177 | $185527 | 6223 | $143286 |
| Reinvestment of distributions | 2891 | 75992 | 2192 | 50936 |
| Shares reacquired | (65600) | (1683378) | (132210) | (3174100) |
| Decrease | (55532) | $(1421859) | (123795) | $(2979878) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 469788 | $12775641 | 403149 | $10178226 |
| Reinvestment of distributions | 20537 | 558404 | 15709 | 377166 |
| Shares reacquired | (518122) | (14101793) | (616863) | (15518589) |
| Decrease | (27797) | $(767748) | (198005) | $(4963197) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 320528 | $8645091 | 455306 | $11205434 |
| Reinvestment of distributions | 32556 | 879351 | 19436 | 463939 |
| Shares reacquired | (576717) | (15689716) | (870281) | (21522282) |
| Decrease | (223633) | $(6165274) | (395539) | $(9852909) |
| **Class R2 Shares** |  |  |  |  |
| Shares sold | 2407 | $59644 | 2244 | $49057 |
| Reinvestment of distributions | 268 | 6526 | 169 | 3651 |
| Shares reacquired | (2486) | (58304) | (10939) | (239055) |
| Increase (decrease) | 189 | $7866 | (8526) | $(186347) |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 53216 | $1304956 | 74643 | $1680959 |
| Reinvestment of distributions | 5021 | 123862 | 3302 | 72161 |
| Shares reacquired | (129715) | (3123858) | (228014) | (5208104) |
| Decrease | (71478) | $(1695040) | (150069) | $(3454984) |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 34731 | $907619 | 28162 | $674310 |
| Reinvestment of distributions | 928 | 23995 | 606 | 13851 |
| Shares reacquired | (34527) | (908956) | (40148) | (939103) |
| Increase (decrease) | 1132 | $22658 | (11380) | $(250942) |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 1483 | $39883 | 1114 | $28242 |
| Reinvestment of distributions | 137 | 3711 | 183 | 4359 |
| Shares reacquired | (55) | (1474) | (14796) | (388218) |
| Increase (decrease) | 1565 | $42120 | (13499) | $(355617) |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 10844 | $287026 | 18665 | $446279 |
| Reinvestment of distributions | 730 | 19847 | 555 | 13339 |
| Shares reacquired | (24691) | (663885) | (23082) | (583693) |
| Decrease | (13117) | $(357012) | (3862) | $(124075) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Focused Growth Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 815995 | $31604006 | 243241 | $6545579 |
| Shares reacquired | (504469) | (19175689) | (183833) | (4988829) |
| Increase | 311526 | $12428317 | 59408 | $1556750 |
| **Class C Shares** |  |  |  |  |
| Shares sold | 76131 | $2745087 | 30957 | $821574 |
| Shares reacquired | (17100) | (595447) | (32691) | (832538) |
| Increase (decrease) | 59031 | $2149640 | (1734) | $(10964) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 11732 | $421590 | 3622 | $102720 |
| Shares reacquired | (13360) | (489873) | (43514) | (1068229) |
| Decrease | (1628) | $(68283) | (39892) | $(965509) |
| **Class F3 Shares** |  |  |  |  |
| Shares reacquired | – | – | (23372) | (584954) |
| Decrease | – | $– | (23372) | $(584954) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 2437999 | $91705886 | 1100803 | $30634514 |
| Shares reacquired | (851585) | (30712556) | (636331) | (18067488) |
| Increase | 1586414 | $60993330 | 464472 | $12567026 |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 2568 | $93199 | 2836 | $76249 |
| Shares reacquired | (4142) | (154931) | (2265) | (65295) |
| Increase (decrease) | (1574) | $(61732) | 571 | $10954 |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 352 | $13400 | 303 | $8903 |
| Shares reacquired | (1) | (30) | (1) | (23) |
| Increase | 351 | $13370 | 302 | $8880 |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 64901 | $2439980 | 53694 | $1483351 |
| Shares reacquired | (24621) | (949987) | (11319) | (318894) |
| Increase | 40280 | $1489993 | 42375 | $1164457 |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Focused Large Cap Value Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 439263 | $6134756 | 165291 | $1987025 |
| Reinvestment of distributions | 17641 | 243978 |  |  |
| Shares reacquired | (305516) | (4123336) | (289400) | (3206122) |
| Increase (decrease) | 151388 | $2255398 | (124109) | $(1219097) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 126738 | $1810169 | 15527 | $191957 |
| Reinvestment of distributions | 1976 | 27123 |  |  |
| Shares reacquired | (32680) | (449487) | (141465) | (1808127) |
| Increase (decrease) | 96034 | $1387805 | (125938) | $(1616170) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 15520 | $239086 | 100 | $1200 |
| Reinvestment of distributions | 269 | 3811 |  |  |
| Shares reacquired | (95) | (1315) | (6644) | (74629) |
| Increase (decrease) | 15694 | $241582 | (6544) | $(73429) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 2920532 | $45227443 | 651663 | $8198656 |
| Reinvestment of distributions | 23958 | 345713 |  |  |
| Shares reacquired | (210907) | (3155951) | (58380) | (740095) |
| Increase | 2733583 | $42417205 | 593283 | $7458561 |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 1576 | $21721 | 2335 | $27178 |
| Reinvestment of distributions | 194 | 2676 |  |  |
| Shares reacquired | (21) | (279) | (5715) | (72316) |
| Increase (decrease) | 1749 | $24118 | (3380) | $(45138) |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 12 | $187 | – | $– |
| Increase | 12 | $187 | – | $– |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 60621 | $848557 | 51066 | $592926 |
| Reinvestment of distributions | 266 | 3707 |  |  |
| Shares reacquired | (38938) | (558384) | (7288) | (96807) |
| Increase | 21949 | $293880 | 43778 | $496119 |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Focused Small Cap Value Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 34984 | $905769 | 40150 | $1030684 |
| Reinvestment of distributions | 30890 | 896443 | 82 | 1918 |
| Shares reacquired | (115577) | (2917264) | (107922) | (2834077) |
| Decrease | (49703) | $(1115052) | (67690) | $(1801475) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 7690 | $214122 | 4821 | $133642 |
| Reinvestment of distributions | 5493 | 167661 |  |  |
| Shares reacquired | (28014) | (752424) | (27565) | (762688) |
| Decrease | (14831) | $(370641) | (22744) | $(629046) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 24479 | $706561 | 7258 | $217250 |
| Reinvestment of distributions | 4261 | 136937 |  |  |
| Shares reacquired | (23482) | (687378) | (114265) | (3101424) |
| Increase (decrease) | 5258 | $156120 | (107007) | $(2884174) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 39516 | $1148968 | 57922 | $1567643 |
| Reinvestment of distributions | 153148 | 4891538 | 7851 | 200592 |
| Shares reacquired | (362812) | (10548358) | (514490) | (14426177) |
| Decrease | (170148) | $(4507852) | (448717) | $(12657942) |
| **Class R5 Shares** |  |  |  |  |
| Shares sold |  | $– | 478 | $13491 |
| Reinvestment of distributions | 6 | 184 | 18 | 470 |
| Shares reacquired | – | – | (7688) | (230485) |
| Increase (decrease) | 6 | $184 | (7192) | $(216524) |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 18242 | $562928 | 107822 | $3051640 |
| Reinvestment of distributions | 450 | 14435 | 697 | 17848 |
| Shares reacquired | (63850) | (1814723) | (346363) | (10073620) |
| Decrease | (45158) | $(1237360) | (237844) | $(7004132) |
| Fundamental Equity Fund | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2024 | Year Ended<br>October 31, 2024 |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 2989299 | $46851874 | 2032053 | $29106533 |
| Reinvestment of distributions | 5143495 | 81575837 | 745895 | 9368436 |
| Shares reacquired | (10915105) | (172454813) | (11133186) | (159290622) |
| Decrease | (2782311) | $(44027102) | (8355238) | $(120815653) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 309299 | $4075481 | 176811 | $2134692 |
| Reinvestment of distributions | 116149 | 1557563 | 3390 | 36415 |
| Shares reacquired | (607597) | (8027796) | (803886) | (9769376) |
| Decrease | (182149) | $(2394752) | (623685) | $(7598269) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Fundamental Equity Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class F Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 375888 | $5946920 | 53635 | $760669 |
| Reinvestment of distributions | 105494 | 1645699 | 19571 | 241895 |
| Shares reacquired | (399599) | (6105797) | (561535) | (7724527) |
| Increase (decrease) | 81783 | $1486822 | (488329) | $(6721963) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 892013 | $14205479 | 227193 | $3335464 |
| Reinvestment of distributions | 92251 | 1490780 | 16438 | 209753 |
| Shares reacquired | (474631) | (7509297) | (334873) | (4906005) |
| Increase (decrease) | 509633 | $8186962 | (91242) | $(1360788) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 7902350 | $123315414 | 14323755 | $207032894 |
| Reinvestment of distributions | 2098716 | 33537477 | 508007 | 6426288 |
| Shares reacquired | (8120768) | (128541176) | (28544127) | (390744797) |
| Increase (decrease) | 1880298 | $28311715 | (13712365) | $(177285615) |
| **Class P Shares** |  |  |  |  |
| Shares sold | 19755 | $303442 | 25652 | $361580 |
| Reinvestment of distributions | 13085 | 201903 | 1905 | 23325 |
| Shares reacquired | (40731) | (626521) | (110447) | (1526627) |
| Decrease | (7891) | $(121176) | (82890) | $(1141722) |
| **Class R2 Shares** |  |  |  |  |
| Shares sold | 5032 | $75895 | 20179 | $301588 |
| Reinvestment of distributions | 8663 | 133317 | 924 | 11293 |
| Shares reacquired | (93642) | (1400877) | (58840) | (806608) |
| Decrease | (79947) | $(1191665) | (37737) | $(493727) |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 415423 | $6374464 | 438351 | $6143532 |
| Reinvestment of distributions | 274172 | 4238696 | 31529 | 386546 |
| Shares reacquired | (1017487) | (15733128) | (1169578) | (16237240) |
| Decrease | (327892) | $(5119968) | (699698) | $(9707162) |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 93744 | $1454283 | 105834 | $1556951 |
| Reinvestment of distributions | 17930 | 282392 | 1871 | 23347 |
| Shares reacquired | (120012) | (1884254) | (50886) | (733531) |
| Increase (decrease) | (8338) | $(147579) | 56819 | $846767 |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 10725 | $168661 | 12999 | $184535 |
| Reinvestment of distributions | 4852 | 77635 | 735 | 9302 |
| Shares reacquired | (27082) | (441846) | (7967) | (114124) |
| Increase (decrease) | (11505) | $(195550) | 5767 | $79713 |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 295594 | $4769667 | 185173 | $2750198 |
| Reinvestment of distributions | 28446 | 459980 | 4168 | 53221 |
| Shares reacquired | (177421) | (2804430) | (174988) | (2610656) |
| Increase | 146619 | $2425217 | 14353 | $192763 |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Global Equity Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 1723552 | $31928203 | 108951 | $1648220 |
| Reinvestment of distributions | 1914 | 32700 | 3607 | 50900 |
| Shares reacquired | (154661) | (2860397) | (77749) | (1209537) |
| Increase | 1570805 | $29100506 | 34809 | $489583 |
| **Class C Shares** |  |  |  |  |
| Shares sold | 113281 | $2126255 | 15107 | $223600 |
| Reinvestment of distributions |  |  | 62 | 864 |
| Shares reacquired | (14499) | (266045) | (10046) | (155006) |
| Increase | 98782 | $1860210 | 5123 | $69458 |
| **Class F Shares** |  |  |  |  |
| Shares sold | 551481 | $8797941 | 9246 | $146522 |
| Reinvestment of distributions | 92 | 1573 | 88 | 1246 |
| Shares reacquired | (613997) | (10749146) | (15899) | (247553) |
| Decrease | (62424) | $(1949632) | (6565) | $(99785) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 2443608 | $44179953 |  | $– |
| Reinvestment of distributions | 184 | 3147 |  |  |
| Shares reacquired | (178975) | (3349655) | – | – |
| Increase | 2264817 | $40833445 | – | $– |
| **Class I Shares** |  |  |  |  |
| Shares sold | 14232802 | $257628728 | 2458603 | $39599414 |
| Reinvestment of distributions | 23641 | 404033 | 3521 | 49721 |
| Shares reacquired | (4871843) | (84420208) | (187244) | (3054230) |
| Increase | 9384600 | $173612553 | 2274880 | $36594905 |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 8835 | $152967 | 2943 | $45960 |
| Reinvestment of distributions | 78 | 1317 | 293 | 4105 |
| Shares reacquired | (14662) | (259702) | (1676) | (26718) |
| Increase (decrease) | (5749) | $(105418) | 1560 | $23347 |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 53 | $999 |  | $– |
| Shares reacquired | (1) | (15) | – | – |
| Increase | 52 | $984 | – | $– |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 14 | $262 |  | $– |
| Shares reacquired | – | (1) | – | – |
| Increase | 14 | $261 | – | $– |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 143722 | $2718997 | 68762 | $1073367 |
| Reinvestment of distributions | 1415 | 24258 | 2297 | 32478 |
| Shares reacquired | (198131) | (3575094) | (17449) | (275681) |
| Increase (decrease) | (52994) | $(831839) | 53610 | $830164 |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Growth Leaders Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 5514983 | $266427700 | 6790407 | $248546608 |
| Shares reacquired | (8027030) | (388308012) | (9691320) | (358441681) |
| Decrease | (2512047) | $(121880312) | (2900913) | $(109895073) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 1380287 | $56624809 | 1322670 | $41677148 |
| Shares reacquired | (3343270) | (138090019) | (5681288) | (177851760) |
| Decrease | (1962983) | $(81465210) | (4358618) | $(136174612) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 3900702 | $190265948 | 621224 | $23538744 |
| Shares reacquired | (3513332) | (168307970) | (3245336) | (123887770) |
| Increase (decrease) | 387370 | $21957978 | (2624112) | $(100349026) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 3037809 | $157809951 | 1788800 | $71111211 |
| Shares reacquired | (2987355) | (153747440) | (4614792) | (179150801) |
| Increase (decrease) | 50454 | $4062511 | (2825992) | $(108039590) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 11896730 | $600146374 | 17087546 | $660415269 |
| Shares reacquired | (17357794) | (878196923) | (25306909) | (966551090) |
| Decrease | (5461064) | $(278050549) | (8219363) | $(306135821) |
| **Class R2 Shares** |  |  |  |  |
| Shares sold | 8144 | $373076 | 17817 | $626851 |
| Shares reacquired | (10394) | (466838) | (23027) | (800826) |
| Decrease | (2250) | $(93762) | (5210) | $(173975) |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 161857 | $7360996 | 189221 | $6718893 |
| Shares reacquired | (161367) | (7188195) | (219328) | (7768971) |
| Increase (decrease) | 490 | $172801 | (30107) | $(1050078) |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 104828 | $4849238 | 70256 | $2699082 |
| Shares reacquired | (153921) | (7269684) | (81872) | (2932651) |
| Decrease | (49093) | $(2420446) | (11616) | $(233569) |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 32719 | $1645438 | 80645 | $3195452 |
| Shares reacquired | (95544) | (4868486) | (142281) | (5753990) |
| Decrease | (62825) | $(3223048) | (61636) | $(2558538) |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 639787 | $33260887 | 551881 | $21383711 |
| Shares reacquired | (1133169) | (59666790) | (1327188) | (53181799) |
| Decrease | (493382) | $(26405903) | (775307) | $(31798088) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Health Care Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 14765 | $281437 | 24814 | $468028 |
| Reinvestment of distributions | 662 | 13567 |  |  |
| Shares reacquired | (34391) | (638237) | (46389) | (854397) |
| Decrease | (18964) | $(343233) | (21575) | $(386369) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 5290 | $100944 | 8882 | $158820 |
| Shares reacquired | (4528) | (83581) | (6762) | (113247) |
| Increase | 762 | $17363 | 2120 | $45573 |
| **Class F Shares** |  |  |  |  |
| Shares sold | 127 | $2501 |  | $– |
| Reinvestment of distributions | 40 | 839 |  |  |
| Shares reacquired | (3599) | (65775) | (1631) | (32110) |
| Decrease | (3432) | $(62435) | (1631) | $(32110) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 959 | $19205 | 65 | $1250 |
| Reinvestment of distributions | 12 | 238 |  |  |
| Shares reacquired | (1193) | (23485) | (1039) | (17518) |
| Decrease | (222) | $(4042) | (974) | $(16268) |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 4785 | $92940 | 890 | $17053 |
| Reinvestment of distributions | 8 | 152 |  |  |
| Shares reacquired | (13) | (246) | (927) | (17750) |
| Increase (decrease) | 4780 | $92846 | (37) | $(697) |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 3490 | $70590 | 23576 | $426150 |
| Reinvestment of distributions | 8 | 171 |  |  |
| Shares reacquired | (24335) | (489359) | (21038) | (398886) |
| Increase (decrease) | (20837) | $(418598) | 2538 | $27264 |
| International Equity Fund | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2024 | Year Ended<br>October 31, 2024 |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 1143054 | $19328409 | 464420 | $6801271 |
| Reinvestment of distributions | 404179 | 5961634 | 183193 | 2478595 |
| Shares reacquired | (1314763) | (21241039) | (1409548) | (20688662) |
| Increase (decrease) | 232470 | $4049004 | (761935) | $(11408796) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 48238 | $799113 | 7796 | $111238 |
| Reinvestment of distributions | 2581 | 38412 | 533 | 7262 |
| Shares reacquired | (25314) | (405334) | (44051) | (651847) |
| Increase (decrease) | 25505 | $432191 | (35722) | $(533347) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| International Equity Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class F Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 230829 | $3738156 | 8121 | $116322 |
| Reinvestment of distributions | 11070 | 162511 | 5319 | 71695 |
| Shares reacquired | (110343) | (1782940) | (52811) | (745843) |
| Increase (decrease) | 131556 | $2117727 | (39371) | $(557826) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 2779887 | $46283287 | 361526 | $5615698 |
| Reinvestment of distributions | 59178 | 887081 | 18211 | 250220 |
| Shares reacquired | (608167) | (10191618) | (312016) | (4636975) |
| Increase | 2230898 | $36978750 | 67721 | $1228943 |
| **Class I Shares** |  |  |  |  |
| Shares sold | 4461275 | $77426752 | 538123 | $8000414 |
| Reinvestment of distributions | 397407 | 5933289 | 208705 | 2859264 |
| Shares reacquired | (2155273) | (34869528) | (2209443) | (32246378) |
| Increase (decrease) | 2703409 | $48490513 | (1462615) | $(21386700) |
| **Class P Shares** |  |  |  |  |
| Shares sold |  | $5 |  | $5 |
| Reinvestment of distributions | 32 | 480 | 13 | 174 |
| Shares reacquired | (25) | (378) | (10) | (138) |
| Increase | 7 | $107 | 3 | $41 |
| **Class R2 Shares** |  |  |  |  |
| Shares sold | 1821 | $29662 | 1733 | $26051 |
| Reinvestment of distributions | 562 | 8310 | 200 | 2720 |
| Shares reacquired | (257) | (4027) | (964) | (14886) |
| Increase | 2126 | $33945 | 969 | $13885 |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 28881 | $462513 | 115904 | $1612080 |
| Reinvestment of distributions | 15051 | 218383 | 5450 | 72590 |
| Shares reacquired | (42346) | (683922) | (117351) | (1719615) |
| Increase (decrease) | 1586 | $(3026) | 4003 | $(34945) |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 33982 | $552797 | 50584 | $750819 |
| Reinvestment of distributions | 6171 | 90407 | 1876 | 25256 |
| Shares reacquired | (40150) | (604691) | (18365) | (255102) |
| Increase | 3 | $38513 | 34095 | $520973 |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 11552 | $200838 | 15058 | $232145 |
| Reinvestment of distributions | 538 | 7976 | 22 | 306 |
| Shares reacquired | (13158) | (223666) | (633) | (9719) |
| Increase (decrease) | (1068) | $(14852) | 14447 | $222732 |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 119020 | $1940572 | 113278 | $1745752 |
| Reinvestment of distributions | 6252 | 93648 | 2284 | 31357 |
| Shares reacquired | (74724) | (1256471) | (81239) | (1262562) |
| Increase | 50548 | $777749 | 34323 | $514547 |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| International Opportunities Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 336711 | $6872074 | 337786 | $6228851 |
| Reinvestment of distributions | 88272 | 1605664 | 79306 | 1418777 |
| Shares reacquired | (819442) | (16266726) | (898099) | (16586736) |
| Decrease | (394459) | $(7788988) | (481007) | $(8939108) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 4689 | $87134 | 13331 | $225371 |
| Reinvestment of distributions | 1855 | 31139 | 2091 | 34511 |
| Shares reacquired | (91300) | (1664003) | (143806) | (2444330) |
| Decrease | (84756) | $(1545730) | (128384) | $(2184448) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 55871 | $1147309 | 52875 | $952095 |
| Reinvestment of distributions | 2698 | 48611 | 3553 | 62998 |
| Shares reacquired | (80829) | (1625674) | (154061) | (2783392) |
| Decrease | (22260) | $(429754) | (97633) | $(1768299) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 244602 | $5018756 | 331732 | $6345593 |
| Reinvestment of distributions | 31441 | 596122 | 28542 | 531450 |
| Shares reacquired | (383095) | (7922739) | (462156) | (8927912) |
| Decrease | (107052) | $(2307861) | (101882) | $(2050869) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 345184 | $7114837 | 506560 | $9783283 |
| Reinvestment of distributions | 159663 | 3003253 | 143054 | 2643636 |
| Shares reacquired | (1603830) | (32944777) | (1495895) | (28750458) |
| Decrease | (1098983) | $(22826687) | (846281) | $(16323539) |
| **Class P Shares** |  |  |  |  |
| Shares sold | 94 | $1958 | 106 | $2042 |
| Reinvestment of distributions | 22 | 424 | 9 | 164 |
| Shares reacquired | (6) | (121) | (1) | (22) |
| Increase | 110 | $2261 | 114 | $2184 |
| **Class R2 Shares** |  |  |  |  |
| Shares sold | 22211 | $440409 | 25823 | $459970 |
| Reinvestment of distributions | 1289 | 23031 | 893 | 15677 |
| Shares reacquired | (27168) | (533539) | (31939) | (575716) |
| Decrease | (3668) | $(70099) | (5223) | $(100069) |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 39204 | $781640 | 35323 | $634054 |
| Reinvestment of distributions | 4176 | 74379 | 3951 | 69218 |
| Shares reacquired | (55245) | (1128747) | (74467) | (1349416) |
| Decrease | (11865) | $(272728) | (35193) | $(646144) |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 20761 | $412511 | 21391 | $398112 |
| Reinvestment of distributions | 1539 | 27818 | 1308 | 23276 |
| Shares reacquired | (38800) | (819947) | (23992) | (444218) |
| Decrease | (16500) | $(379618) | (1293) | $(22830) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| International Opportunities Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class R5 Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 12570 | $252754 | 7943 | $151450 |
| Reinvestment of distributions | 2216 | 41670 | 2101 | 38823 |
| Shares reacquired | (25886) | (527982) | (24630) | (479413) |
| Decrease | (11100) | $(233558) | (14586) | $(289140) |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 201670 | $4216829 | 193693 | $3715720 |
| Reinvestment of distributions | 13243 | 251087 | 12779 | 237944 |
| Shares reacquired | (299507) | (6217804) | (297937) | (5790428) |
| Decrease | (84594) | $(1749888) | (91465) | $(1836764) |
| International Value Fund | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2024 | Year Ended<br>October 31, 2024 |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 1769277 | $15622080 | 1444606 | $11337300 |
| Reinvestment of distributions | 763582 | 6920219 | 953280 | 7514310 |
| Shares reacquired | (4205421) | (37146493) | (4338506) | (34078473) |
| Decrease | (1672562) | $(14604194) | (1940620) | $(15226863) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 65783 | $607819 | 28853 | $235311 |
| Reinvestment of distributions | 4707 | 42660 | 9131 | 71194 |
| Shares reacquired | (87095) | (772347) | (218628) | (1732779) |
| Decrease | (16605) | $(121868) | (180644) | $(1426274) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 44750 | $382527 | 24567 | $190799 |
| Reinvestment of distributions | 17076 | 155869 | 23345 | 185553 |
| Shares reacquired | (142040) | (1260513) | (137656) | (1085492) |
| Decrease | (80214) | $(722117) | (89744) | $(709140) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 1236395 | $11175383 | 946414 | $7583162 |
| Reinvestment of distributions | 144506 | 1325030 | 156150 | 1244211 |
| Shares reacquired | (982821) | (8850993) | (1096721) | (8730519) |
| Increase | 398080 | $3649420 | 5843 | $96854 |
| **Class I Shares** |  |  |  |  |
| Shares sold | 1386343 | $12357359 | 3182806 | $24214477 |
| Reinvestment of distributions | 558793 | 5108958 | 705092 | 5613354 |
| Shares reacquired | (3495897) | (30661566) | (3908956) | (31018018) |
| Decrease | (1550761) | $(13195249) | (21058) | $(1190187) |
| **Class R2 Shares** |  |  |  |  |
| Shares sold | 599 | $5508 | 795 | $6410 |
| Reinvestment of distributions | 197 | 1846 | 243 | 1964 |
| Shares reacquired | (175) | (1595) | (1668) | (13952) |
| Increase (decrease) | 621 | $5759 | (630) | $(5578) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| International Value Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class R3 Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 45492 | $407947 | 68685 | $538912 |
| Reinvestment of distributions | 16152 | 148337 | 23495 | 186846 |
| Shares reacquired | (144707) | (1300292) | (373943) | (2933143) |
| Decrease | (83063) | $(744008) | (281763) | $(2207385) |
| **Class R4 Shares** |  |  |  |  |
| Shares sold | 1509 | $12852 | 5465 | $41334 |
| Reinvestment of distributions | 576 | 5182 | 692 | 5448 |
| Shares reacquired | (4521) | (41532) | (1397) | (10369) |
| Increase (decrease) | (2436) | $(23498) | 4760 | $36413 |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 18 | $154 | 17 | $132 |
| Reinvestment of distributions |  | 6 |  | 2 |
| Shares reacquired | (12) | (110) | (4) | (31) |
| Increase | 6 | $50 | 13 | $103 |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 9603 | $86503 | 29318 | $229035 |
| Reinvestment of distributions | 1944 | 17748 | 3014 | 23917 |
| Shares reacquired | (53622) | (488463) | (55666) | (440541) |
| Decrease | (42075) | $(384212) | (23334) | $(187589) |
| Micro Cap Growth Fund | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2025 | Year Ended<br>October 31, 2024 | Year Ended<br>October 31, 2024 |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 72125 | $1195727 | 132734 | $1863186 |
| Shares reacquired | (327884) | (5517305) | (682763) | (9574546) |
| Decrease | (255759) | $(4321578) | (550029) | $(7711360) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 8228 | $169811 | 9782 | $168474 |
| Shares reacquired | (68092) | (1365595) | (87706) | (1520608) |
| Decrease | (59864) | $(1195784) | (77924) | $(1352134) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 17527 | $353437 | 20421 | $362778 |
| Shares reacquired | (151253) | (3078904) | (482558) | (8537841) |
| Decrease | (133726) | $(2725467) | (462137) | $(8175063) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 468255 | $9916676 | 565952 | $9914853 |
| Shares reacquired | (1346946) | (28452550) | (1988609) | (35035783) |
| Decrease | (878691) | $(18535874) | (1422657) | $(25120930) |

---

**Notes to Financial Statements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Value Opportunities Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class A Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 1404855 | $26276320 | 1805504 | $33174912 |
| Reinvestment of distributions | 1909819 | 39093998 | 531708 | 8618986 |
| Shares reacquired | (5983393) | (111407001) | (5909709) | (108782214) |
| Decrease | (2668719) | $(46036683) | (3572497) | $(66988316) |
| **Class C Shares** |  |  |  |  |
| Shares sold | 43617 | $628939 | 82392 | $1203747 |
| Reinvestment of distributions | 112220 | 1780931 | 41498 | 534075 |
| Shares reacquired | (842081) | (12220579) | (987531) | (14515632) |
| Decrease | (686244) | $(9810709) | (863641) | $(12777810) |
| **Class F Shares** |  |  |  |  |
| Shares sold | 27309 | $534664 | 42649 | $824591 |
| Reinvestment of distributions | 80786 | 1715896 | 25962 | 435384 |
| Shares reacquired | (435993) | (8263139) | (359943) | (6863306) |
| Decrease | (327898) | $(6012579) | (291332) | $(5603331) |
| **Class F3 Shares** |  |  |  |  |
| Shares sold | 1040907 | $20700204 | 758554 | $15108044 |
| Reinvestment of distributions | 537627 | 11924571 | 177934 | 3104946 |
| Shares reacquired | (1953768) | (39461797) | (2275065) | (45380190) |
| Decrease | (375234) | $(6837022) | (1338577) | $(27167200) |
| **Class I Shares** |  |  |  |  |
| Shares sold | 540629 | $10608697 | 6751884 | $144290734 |
| Reinvestment of distributions | 1092860 | 23900843 | 237110 | 4087773 |
| Shares reacquired | (5980223) | (112220162) | (2776255) | (54338289) |
| Increase (decrease) | (4346734) | $(77710622) | 4212739 | $94040218 |
| **Class P Shares** |  |  |  |  |
| Shares sold | 77102 | $1382435 | 67337 | $1227711 |
| Reinvestment of distributions | 36742 | 723443 | 10713 | 167762 |
| Shares reacquired | (173052) | (3128840) | (226916) | (4082708) |
| Decrease | (59208) | $(1022962) | (148866) | $(2687235) |
| **Class R2 Shares** |  |  |  |  |
| Shares sold | 28781 | $474776 | 25636 | $436048 |
| Reinvestment of distributions | 13404 | 252260 | 4145 | 62296 |
| Shares reacquired | (71381) | (1207369) | (91437) | (1533421) |
| Decrease | (29196) | $(480333) | (61656) | $(1035077) |
| **Class R3 Shares** |  |  |  |  |
| Shares sold | 164888 | $2862836 | 161024 | $2833992 |
| Reinvestment of distributions | 103435 | 1995262 | 27147 | 417247 |
| Shares reacquired | (554278) | (9713849) | (437773) | (7684105) |
| Decrease | (285955) | $(4855751) | (249602) | $(4432866) |

---

**Notes to Financial Statements (concluded)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Value Opportunities Fund | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2025** | **Year Ended<br>October 31, 2024** | **Year Ended<br>October 31, 2024** |
| **Class R4 Shares** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold | 177658 | $3296024 | 171577 | $3192315 |
| Reinvestment of distributions | 88929 | 1817713 | 26401 | 427171 |
| Shares reacquired | (320650) | (5920695) | (454328) | (8472911) |
| Decrease | (54063) | $(806958) | (256350) | $(4853425) |
| **Class R5 Shares** |  |  |  |  |
| Shares sold | 32418 | $643525 | 12267 | $238895 |
| Reinvestment of distributions | 3547 | 77653 | 966 | 16672 |
| Shares reacquired | (29153) | (594770) | (9187) | (184558) |
| Increase | 6812 | $126408 | 4046 | $71009 |
| **Class R6 Shares** |  |  |  |  |
| Shares sold | 120852 | $2519320 | 227022 | $4629078 |
| Reinvestment of distributions | 52678 | 1167335 | 23461 | 408929 |
| Shares reacquired | (474070) | (9591416) | (872026) | (18233085) |
| Decrease | (300540) | $(5904761) | (621543) | $(13195078) |

---

**Report of Independent Registered Public Accounting Firm**

**To the shareholders and the Board of Trustees of Lord Abbett Securities Trust**

**Opinion on the Financial Statements and Financial Highlights**

We have audited the accompanying statements of assets and liabilities of Lord Abbett Securities Trust comprising the Lord Abbett Alpha Strategy Fund, Lord Abbett Focused Growth Fund, Lord Abbett Focused Large Cap Value Fund, Lord Abbett Focused Small Cap Value Fund, Lord Abbett Fundamental Equity Fund, Lord Abbett Global Equity Fund, Lord Abbett Growth Leaders Fund, Lord Abbett Health Care Fund, Lord Abbett International Equity Fund, Lord Abbett International Opportunities Fund, Lord Abbett International Value Fund, Lord Abbett Micro Cap Growth Fund, and Lord Abbett Value Opportunities Fund (the "Funds"), including the schedules of investments, as of October 31, 2025, the related statements of operations for the year then ended, statements of changes in net assets for each of the two years in the period then ended, financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the funds constituting the Lord Abbett Securities Trust as of October 31, 2025, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements and financial highlights 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 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 and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, 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 and financial highlights. 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 and financial highlights. Our procedures included confirmation of securities owned as of October 31, 2025, by correspondence with the custodian and counterparties; when replies were not received from counterparties, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

New York, New York

December 23, 2025

We have served as the auditor of one or more Lord Abbett Family of Funds' investment companies since 1932.

**Investments in Underlying Funds (unaudited)**

Alpha Strategy Fund invests in Underlying Funds managed by Lord Abbett. As of October 31, 2025, Alpha Strategy Fund's long-term investments were allocated among the Underlying Funds as follows:

---

| | |
|:---|:---|
| **Underlying Fund Name** | **%** |
| Lord Abbett Developing Growth Fund, Inc. - Class I | 21.25% |
| Lord Abbett Research Fund, Inc.-Small Cap Value Fund - Class I | 19.26% |
| Lord Abbett Securities Trust-Focused Small Cap Value Fund - Class I | 9.66% |
| Lord Abbett Securities Trust-International Opportunities Fund - Class I | 19.39% |
| Lord Abbett Securities Trust-Micro Cap Growth Fund - Class I | 11.17% |
| Lord Abbett Securities Trust-Value Opportunities Fund - Class I | 19.27% |
| Total | 100.00% |

---

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

**Changes in and Disagreements with Accountants**

There were no changes in or disagreements with accountants during the period.

**Proxy Disclosures**

There were no matters submitted to a vote of shareholders during the period.

**Remuneration Paid to Trustees, Officers, and Others**

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

**Tax Information (unaudited)**

The percentages below reflect the portion of ordinary income distributions that are eligible for the corporate dividend received deduction (DRD) and qualified dividend income (QDI) for individual shareholders:

---

| | | |
|:---|:---|:---|
| **Fund Name** | **DRD** | **QDI** |
| Alpha Strategy Fund | 71% | 100% |
| Focused Growth Fund | 0% | 0% |
| Focused Large Cap Value Fund | 67% | 83% |
| Focused Small Cap Value Fund | 0% | 0% |
| Fundamental Equity | 75% | 89% |
| Global Equity Fund | 31% | 96% |
| Growth Leaders Fund | 0% | 0% |
| Health Care Fund | 45% | 82% |
| International Equity Fund | 0% | 99% |
| International Opportunities Fund | 0% | 96% |
| International Value Fund | 0% | 100% |
| Micro Cap Growth Fund | 0% | 0% |
| Value Opportunities Fund | 100% | 100% |

---

Of the distributions paid to the shareholders during the most recently ended fiscal year, the following amounts represent long-term capital gains:

---

| | |
|:---|:---|
| **Fund Name** | **Long-Term<br>Capital Gains** |
| Alpha Strategy Fund | $4278690 |
| Focused Growth Fund |  |
| Focused Large Cap Value Fund | 208371 |
| Focused Small Cap Value Fund | 6604552 |
| Fundamental Equity | 93357484 |
| Global Equity Fund |  |
| Growth Leaders Fund |  |
| Health Care Fund |  |
| International Equity Fund | 8698818 |
| International Opportunities Fund |  |
| International Value Fund |  |
| Micro Cap Growth Fund |  |
| Value Opportunities Fund | 84791291 |

---

The Funds listed below intend to pass through foreign source income and foreign taxes as follows:

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Foreign<br>Source Income** | **Foreign Taxes** |
| Alpha Strategy Fund | $941936 | $417164 |
| Focused Growth Fund |  |  |
| Focused Large Cap Value Fund |  |  |
| Focused Small Cap Value Fund |  |  |
| Fundamental Equity |  |  |
| Global Equity Fund |  |  |
| Growth Leaders Fund |  |  |
| Health Care Fund |  |  |
| International Equity Fund | 6315932 | 784004 |
| International Opportunities Fund | 6040577 | 918347 |
| International Value Fund | 14170762 | 925523 |
| Micro Cap Growth Fund |  |  |
| Value Opportunities Fund |  |  |

---

![](x6_c114183x167x1m4.jpg)

---

| | | |
|:---|:---|:---|
| ![](x6_c114183x167x2m4.jpg) <br> This report, when not used for the general information of shareholders of the Fund, is to be distributed only if preceded or accompanied by a current fund prospectus.<br>Lord Abbett mutual fund shares are distributed by<br> LORD ABBETT DISTRIBUTOR LLC. | Lord Abbett Securities Trust<br> Lord Abbett Alpha Strategy Fund<br> Lord Abbett Focused Growth Fund<br> Lord Abbett Focused Large Cap Value Fund<br> Lord Abbett Focused Small Cap Value Fund<br> Lord Abbett Fundamental Equity Fund<br> Lord Abbett Global Equity Fund<br> Lord Abbett Growth Leaders Fund<br> Lord Abbett Health Care Fund<br> Lord Abbett International Equity Fund<br> Lord Abbett International Opportunities Fund<br> Lord Abbett International Value Fund<br> Lord Abbett Micro-Cap Growth Fund<br> Lord Abbett Value Opportunities Fund | LST-2<br> (12/25) |

---

---

| | |
|:---|:---|
| Item 12: | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
|  | Not applicable. |
| Item 13: | Portfolio Managers of Closed-End Management Investment Companies. |
|  | Not applicable. |
| Item 14: | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
|  | Not applicable. |
| Item 15: | Submission of Matters to a Vote of Security Holders. |
|  | Not applicable. |
| Item 16: | Controls and Procedures. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The principal executive officer and principal financial & accounting officer have concluded as of a date within 90 days of the filing date of this report, based on their evaluation of the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), that the design of such procedures is effective to provide reasonable assurance that material information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Item 17: | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
|  | Not applicable. |
| Item 18: | Recovery of Erroneously Awarded Compensation. |
|  | Not applicable. |
| Item 19: | Exhibits. |

---

(a)(1) [The Lord Abbett Family of Funds Sarbanes-Oxley Code of Ethics for the Principal Executive Officer and Senior Financial Officers is attached hereto as part of EX-99.CODEETH.](c114183_ex99codeeth.htm)

---

| | |
|:---|:---|
| (a)(2) | Not applicable. |
| (a)(3) | [Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 is attached hereto as a part of EX-99.CERT.](c114183_ex99cert.htm) |
| (a)(4) | Not applicable. |
| (a)(5) | There was no change in the registrant's independent public accountant for the period covered by this report. |
| (b) | [Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(b) under the Investment Company Act of 1940 is provided as a part of EX-99.906CERT.](c114183_ex99-906cert.htm) |

---

**SIGNATURES**

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

---

| | |
|:---|:---|
| **LORD ABBETT SECURITIES TRUST** | **LORD ABBETT SECURITIES TRUST** |
| By: | /s/ Douglas B. Sieg |
|  | Douglas B. Sieg<br> President and Chief Executive Officer<br> (Principal Executive Officer) |

---

Date: December 23, 2025

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

---

| | |
|:---|:---|
| By: | /s/ Douglas B. Sieg |
|  | Douglas B. Sieg<br> President and Chief Executive Officer<br> (Principal Executive Officer) |

---

Date: December 23, 2025

---

| | |
|:---|:---|
| By: | /s/ Michael J. Hebert |
|  | Michael J. Hebert<br> Chief Financial Officer and Treasurer<br> (Principal Financial Officer) |

---

Date: December 23, 2025

## Ex-99.Code

EX-99.CODEETH

**THE LORD ABBETT FAMILY OF FUNDS**<br> **SARBANES-OXLEY CODE OF ETHICS**<br> **FOR THE PRINCIPAL EXECUTIVE OFFICER**<br> **AND SENIOR FINANCIAL OFFICERS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**I.** **Covered Officers/Purpose of the Code** 

**The Lord Abbett Family of Funds'** code of ethics (the "Code") for the investment companies within the complex (collectively, "Funds" and each individually a "Fund"), applies to each Fund's Principal Executive Officer and Senior Financial Officers (the "Covered Officers", each of whom is set forth in Exhibit A) for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and
professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits
to, the SEC and in other public communications made by the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**II.** **Covered Officers Should Handle Ethically Any Actual and Apparent Conflicts of Interest** 

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his/her service to, a Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his/her family, receives improper personal benefits as a result of his/her position with a Fund.

Certain conflicts of interest arise out of the relationships between Covered Officers and a Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940 and the Investment Advisers Act of 1940. For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the investment adviser to each of the Funds. The compliance programs and procedures of Lord, Abbett & Co. LLC ("Lord Abbett") are designed to prevent, or identify and correct, violations of such requirements. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between each of the Funds

June 2003

and Lord Abbett of which the Covered Officers are also members. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for a Fund or for Lord Abbett, or for both), be involved in establishing policies and implementing decisions which will have different effects on Lord Abbett and each of the Funds. The participation of the Covered Officers in such activities is inherent in the contractual relationship between each of the Funds and Lord Abbett and is consistent with the performance by the Covered Officers of their duties as officers of one or more Funds and, if addressed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, will be deemed to have been handled ethically. In addition, it is recognized by the Boards of Directors/Trustees of the Funds that the Covered Officers are also officers of the other Lord Abbett investment companies covered by this and by a separate code of ethics.

Other conflicts of interest are covered by this Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. In reading the following examples of conflicts of interest under this Code, Covered Officers should keep in mind that such a list cannot ever be exhaustive by covering every possible scenario. It follows that the overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of a Fund.

\* \* \* \*

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not use his/her personal influence or personal relationships improperly to influence investment decisions or financial reporting
by a Fund whereby the Covered Officer would benefit personally to the detriment of the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not cause a Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather
than the benefit the Fund.

There are some potential conflict of interest situations that should be discussed with Lord Abbett's General Counsel if material. Examples of these include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· service as a director on the board of any public company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any direct ownership interest in, or any consulting or employment relationship with, any of the Funds' service providers,
other than Lord Abbett or any affiliated person of Lord Abbett;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· a direct or indirect financial interest in commissions, transaction charges or spreads paid by a Fund for effecting portfolio
transactions or for selling or redeeming shares, other than an interest arising from the Covered Officer's employment, such
as compensation or as a member of Lord Abbett.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**III.** **Disclosure & Compliance** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should familiarize him/herself with the disclosure requirements generally applicable to the Funds;

June 2003

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about a Fund to others, whether
within or outside Lord Abbett or a Fund, including to a Fund's independent directors/trustees and auditors, and to governmental
regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should, to the extent appropriate within his/her area of responsibility, consult with other officers and
employees of the Funds and Lord Abbett with the goal of promoting full, fair, accurate, timely and understandable disclosure in
the reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· it is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable
laws, rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**IV.** **Reporting and Accountability** 

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· upon adoption of the Code, affirm in writing to the Audit Committee (the "Committee") of a Fund that he/she has
received, read, and understands the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· annually thereafter affirm to the Committee that he/she has complied with the requirements of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· report at least annually such affiliations or other relationships related to conflicts of interest as covered by the Funds'
Annual Directors & Officers Questionnaire;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not retaliate against any employee or member of Lord Abbett for reports of potential violations that are made in good faith;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· notify Lord Abbett's General Counsel<sup></sup>promptly if he/she alleges any violation of this Code. Failure to do
so is itself a violation of this Code.

Lord Abbett's General Counsel is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. The General Counsel may consult, as appropriate, with the Committee, and/or counsel to the Independent Directors, and is encouraged to do so. However, any approvals or waivers sought by the Covered Persons will be considered by the Committee.

June 2003

Each of the Funds will follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Lord Abbett's General Counsel will take all appropriate action to investigate any potential violations reported to him;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if, after such investigation, the General Counsel believes that no violation has occurred, the General Counsel is not required
to take any further action, but he shall discuss with the Committee at its next regularly scheduled meeting his investigation and
conclusion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any matter that the General Counsel believes is a violation will be reported to the Committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if the Committee concurs that a violation has occurred, it will consider appropriate action, which may include review of, and
appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of Lord Abbett; or a recommendation
to dismiss the Covered Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the Committee will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**V.** **Other Policies and Procedures** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, the Funds' adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superceded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Funds' and Lord Abbett's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**VI.** **Amendments** 

Except as to the individuals listed in Exhibit A, this Code may not be amended except in written form, which is specifically approved or ratified by a majority vote of a Fund's independent directors/trustees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**VII.** **Confidentiality** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Committee and its counsel.

June 2003

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**VIII.** **Internal Use** 

The Code is intended solely for the internal use by each of the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

Date: June 19, 2003

June 2003

**Exhibit A**

---

| | | |
|:---|:---|:---|
| <u><u>Persons Covered by this Code of Ethics</u></u> | <u><u>Persons Covered by this Code of Ethics</u></u> | <u><u>Position With Funds</u></u> |
| Douglas B. Sieg | Principal Executive Officer | President and Chief Executive Officer |
| Michael J. Hebert | Principal Financial Officer and Principal Accounting Officer | Chief Financial Officer and Treasurer |

---

July 2022

## Ex-99.Cert

EX-99.CERT

CERTIFICATIONS

Pursuant to Section 302 of the

Sarbanes-Oxley Act of 2002

I, Douglas B. Sieg, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Lord Abbett Securities Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in
this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and
cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The Registrant's other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this
report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during
the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's
internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Registrant's other certifying officer and I have disclosed to the Registrant's
auditors and the audit committee of the Registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial
information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's
internal control over financial reporting.

Date: December 23, 2025

---

| |
|:---|
| <u><u>/s/ Douglas B. Sieg</u></u> |
| Douglas B. Sieg |
| President and Chief Executive Officer |
| (Principal Executive Officer) |

---

EX-99.CERT

CERTIFICATIONS

Pursuant to Section 302 of the

Sarbanes-Oxley Act of 2002

I, Michael J. Hebert, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Lord Abbett Securities Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in
this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and
cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The Registrant's other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this
report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during
the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's
internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Registrant's other certifying officer and I have disclosed to the Registrant's
auditors and the audit committee of the Registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial
information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's
internal control over financial reporting.

Date: December 23, 2025

---

| |
|:---|
| By: <u>/s/ Michael J. Hebert</u> |
| Michael J. Hebert |
| Chief Financial Officer and Treasurer |
| (Principal Financial Officer) |

---

## Exhibit 99.906

EX-99.906CERT

CERTIFICATIONS

Pursuant to Section 906 of the

Sarbanes-Oxley Act of 2002

Each of the undersigned below certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This report on Form N-CSR of Lord Abbett Securities Trust (the "Report") fully complies with the requirements of
Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the issuer.

Date: December 23, 2025

---

| | |
|:---|:---|
| By: | <u><u>/s/ Douglas B. Sieg</u></u> |
|  | Douglas B. Sieg |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |

---

---

| | |
|:---|:---|
| By: | <u><u>/s/ Michael J. Hebert</u></u> |
|  | Michael J. Hebert |
|  | Chief Financial Officer and Treasurer |
|  | (Principal Financial Officer) |

---

A SIGNED ORIGINAL OF THIS WRITTEN STATEMENT REQUIRED BY SECTION 906, OR OTHER DOCUMENT AUTHENTICATING, ACKNOWLEDGING, OR OTHERWISE ADOPTING THE SIGNATURE THAT APPEARS IN TYPED FORM WITHIN THE ELECTRONIC VERSION OF THIS WRITTEN STATEMENT REQUIRED BY SECTION 906, HAS BEEN PROVIDED TO THE REGISTRANT AND WILL BE RETAINED BY THE REGISTRANT AND FURNISHED TO THE SECURITIES AND EXCHANGE COMMISSION OR ITS STAFF UPON REQUEST.