Statement of Investments September 30, 2017 (Unaudited)

Transcription

1 Statement of Investments NVIT Nationwide Fund Common Stocks 98.4% Aerospace & Defense 3.2% General Dynamics Corp. 93,223 $ 19,164,784 Northrop Grumman Corp. 17,766 5,111,634 24,276,418 Airlines 0.7% Copa Holdings SA, Class A 25,145 3,131,307 Delta Air Lines, Inc. 49,715 2,397,257 5,528,564 Auto Components 1.5% Delphi Automotive plc 115,970 11,411,448 Banks 6.0% Citigroup, Inc. 34,452 2,506,038 FNB Corp. 177,465 2,489,834 Huntington Bancshares, Inc. 553,855 7,731,816 JPMorgan Chase & Co. 121,326 11,587,846 KeyCorp 676,195 12,725,990 Wells Fargo & Co. 144,806 7,986,051 45,027,575 Beverages 2.2% PepsiCo, Inc. 148,439 16,540,558 Biotechnology 2.5% Celgene Corp. * 27,126 3,955,513 Gilead Sciences, Inc. 100,486 8,141,376 Incyte Corp. * 18,710 2,184,205 Vertex Pharmaceuticals, Inc. * 27,335 4,156,014 18,437,108 Building Products 0.8% Masco Corp. 160,140 6,247,061 Capital Markets 2.5% Ameriprise Financial, Inc. 29,777 4,422,182 Lazard Ltd., Class A 62,020 2,804,544 LPL Financial Holdings, Inc. 47,705 2,460,147 MarketAxess Holdings, Inc. 18,026 3,325,977 MSCI, Inc. 29,725 3,474,853 State Street Corp. 24,999 2,388,405 18,876,108 Chemicals 1.6% Albemarle Corp. 36,950 5,036,655 Chemours Co. (The) 66,250 3,352,912 WR Grace & Co. 51,968 3,749,491 12,139,058 Commercial Services & Supplies 0.3% Waste Management, Inc. 29,696 2,324,306 Communications Equipment 1.8% Cisco Systems, Inc. 401,940 13,517,242 Consumer Finance 0.9% Discover Financial Services 110,177 7,104,213 Containers & Packaging 0.7% Berry Global Group, Inc. * 92,042 5,214,179 Distributors 0.3% Pool Corp. 21,351 2,309,538 Diversified Consumer Services 0.5% Service Corp. International (a) 101,806 3,512,307 Diversified Financial Services 1.4% Berkshire Hathaway, Inc., Class B * 35,760 6,555,523 Voya Financial, Inc. 91,517 3,650,613 10,206,136 Electric Utilities 0.9% American Electric Power Co., Inc. 95,944 6,739,107 Electrical Equipment 0.4% Eaton Corp. plc (a) 43,481 $ 3,338,906 Electronic Equipment, Instruments & Components 1.0% CDW Corp. 67,520 4,456,320 Trimble, Inc. * 81,860 3,213,005 7,669,325 Energy Equipment & Services 1.0% Schlumberger Ltd. 104,830 7,312,941 Equity Real Estate Investment Trusts (REITs) 4.2% Colony NorthStar, Inc., Class A 269,775 3,388,374 Forest City Realty Trust, Inc., Class A 121,344 3,095,485 Mid-America Apartment Communities, Inc. 55,518 5,933,764 Prologis, Inc. 152,389 9,670,606 Regency Centers Corp. 75,510 4,684,640 SBA Communications Corp. * 16,545 2,383,307 Sun Communities, Inc. 24,945 2,137,288 31,293,464 Food & Staples Retailing 0.7% US Foods Holding Corp. * 190,975 5,099,033 Food Products 0.9% Mondelez International, Inc., Class A 95,727 3,892,260 Tyson Foods, Inc., Class A 35,690 2,514,360 6,406,620 Gas Utilities 0.3% Atmos Energy Corp. 27,454 2,301,743 Health Care Equipment & Supplies 3.8% Abbott Laboratories 312,476 16,673,720 Baxter International, Inc. 186,443 11,699,298 28,373,018 Health Care Providers & Services 1.8% UnitedHealth Group, Inc. 67,338 13,188,147 Hotels, Restaurants & Leisure 0.9% Aramark (a) 51,140 2,076,796 Royal Caribbean Cruises Ltd. 40,854 4,842,833 6,919,629 Household Durables 0.7% Mohawk Industries, Inc. * 22,388 5,541,254 Household Products 1.3% Procter & Gamble Co. (The) 104,643 9,520,420 Industrial Conglomerates 0.6% General Electric Co. 196,028 4,739,957 Insurance 2.9% Allstate Corp. (The) 78,914 7,252,986 Axis Capital Holdings Ltd. 38,424 2,202,079 Chubb Ltd. 55,614 7,927,776 FNF Group 89,980 4,270,451 21,653,292 Internet & Direct Marketing Retail 2.7% Amazon.com, Inc. * 14,526 13,964,570 Netflix, Inc. * 17,279 3,133,547 Priceline Group, Inc. (The) * 1,752 3,207,596 20,305,713 Internet Software & Services 5.5% Alphabet, Inc., Class A * 9,933 9,671,961 Alphabet, Inc., Class C * 8,821 8,460,309 Facebook, Inc., Class A * 105,041 17,948,356 IAC/InterActiveCorp * 42,643 5,013,964 41,094,590

2 IT Services 0.8% Amdocs Ltd. 32,709 $ 2,103,843 Fidelity National Information Services, Inc. 43,310 4,044,721 6,148,564 Life Sciences Tools & Services 2.3% Agilent Technologies, Inc. 132,155 8,484,351 Thermo Fisher Scientific, Inc. 44,595 8,437,374 16,921,725 Machinery 1.5% Ingersoll-Rand plc 69,490 6,196,423 Pentair plc 72,950 4,957,682 11,154,105 Media 3.5% Comcast Corp., Class A 318,100 12,240,488 Walt Disney Co. (The) 141,511 13,948,739 26,189,227 Metals & Mining 0.5% Alcoa Corp. * 73,255 3,415,148 Oil, Gas & Consumable Fuels 6.4% Anadarko Petroleum Corp. 171,357 8,370,790 Andeavor 76,135 7,853,325 Chevron Corp. 127,670 15,001,225 ConocoPhillips 116,845 5,848,092 Exxon Mobil Corp. 46,128 3,781,573 Kinder Morgan, Inc. 200,370 3,843,097 Marathon Oil Corp. (a) 230,780 3,129,377 47,827,479 Personal Products 0.4% Estee Lauder Cos., Inc. (The), Class A 26,000 2,803,840 Pharmaceuticals 5.6% Johnson & Johnson 149,969 19,497,470 Merck & Co., Inc. 199,299 12,761,115 Pfizer, Inc. 137,433 4,906,358 Zoetis, Inc. 74,982 4,780,852 41,945,795 Road & Rail 2.4% Norfolk Southern Corp. 59,740 7,900,018 Union Pacific Corp. 86,855 10,072,574 17,972,592 Semiconductors & Semiconductor Equipment 1.7% Applied Materials, Inc. 136,153 7,092,210 Broadcom Ltd. 10,855 2,632,772 Marvell Technology Group Ltd. 173,435 3,104,486 12,829,468 Software 5.6% Adobe Systems, Inc. * 81,225 12,117,146 Atlassian Corp. plc, Class A * 79,586 2,797,448 Microsoft Corp. 332,471 24,765,765 Oracle Corp. 53,444 2,584,017 42,264,376 Specialty Retail 3.5% Home Depot, Inc. (The) 83,670 13,685,065 Lowe's Cos., Inc. 156,781 12,533,073 26,218,138 Technology Hardware, Storage & Peripherals 4.4% Apple, Inc. 215,429 33,201,918 Textiles, Apparel & Luxury Goods 0.5% Coach, Inc. 89,680 3,612,310 Tobacco 2.5% Altria Group, Inc. 186,443 $ 11,824,215 Philip Morris International, Inc. 62,378 6,924,582 18,748,797 Wireless Telecommunication Services 0.3% Telephone & Data Systems, Inc. 82,271 2,294,538 Total Investments (cost $593,685,840) 98.4% 737,716,998 Other assets in excess of liabilities 1.6% 11,657,804 NET ASSETS 100.0% $ 749,374,802 * Denotes a non-income producing security. (a) The security or a portion of this security is on loan at September 30, The total value of securities on loan at September 30, 2017 was $4,789,328, which was collateralized by $4,882,596 in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% 6.63%, and maturity dates ranging from 10/05/ /15/2046. REIT Real Estate Investment Trust

3 Futures contracts outstanding as of September 30, 2017: Number of Contracts Expiration Date Trading Currency Notional Amount ($) and Unrealized Appreciation (Depreciation) ($) Description Long Contracts S&P 500 E-Mini Index 95 12/2017 USD 11,951, , ,468 Currency: USD United States Dollar The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund s audited annual

4 In accordance with the authoritative guidance on fair value measurements and disclosures under accounting principles generally accepted in the United States of America, Nationwide Variable Insurance Trust's (the Trust ) investment adviser to the Fund, Nationwide Fund Advisors ( NFA ), assigns a fair value to Fund investments in accordance with a hierarchy that prioritizes the various types of inputs used to measure fair value. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy are summarized below. Level 1 Quoted prices in active markets for identical assets Level 2 Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.) Level 3 Significant unobservable inputs (including the Fund s own assumptions in determining the fair value of investments) Changes in valuation techniques may result in transfers into or out of an investment s assigned level within the hierarchy. An investment s categorization within the hierarchy is based on the lowest level of any input that is significant to the fair valuation in its entirety. The inputs or methodology used to value investments are not intended to indicate the risk associated with investing in those investments. The Trust s Board of Trustees (the Board of Trustees ) has delegated authority to NFA, and the Trust s administrator, Nationwide Fund Management LLC ( NFM ), to assign a fair value under certain circumstances, as described below, pursuant to valuation procedures approved by the Board of Trustees. NFA and NFM have established a Fair Valuation Committee ( FVC ) to assign these fair valuations. The fair value of a security may differ from its quoted or published price. Fair valuation of portfolio securities may occur on a daily basis. Securities may be fair valued in certain circumstances, such as where (i) market quotations are not readily available; (ii) an independent pricing service does not provide a value or the value provided by an independent pricing service is determined to be unreliable in the judgment of NFA/NFM or its designee; (iii) a significant event has occurred that affects the value of the Fund s securities after trading has stopped (e.g., earnings announcements or news relating to natural disasters affecting an issuer s operations); (iv) the securities are illiquid; (v) the securities have defaulted or been delisted from an exchange and are no longer trading; or (vi) any other circumstance in which the FVC believes that market quotations do not accurately reflect the value of a security. The FVC will assign a fair value according to fair value methodologies. Information utilized by the FVC to obtain a fair value may include, among others, the following: (i) a multiple of earnings; (ii) the discount from market value of a similar, freely traded security; (iii) the yield-to-maturity for debt issues; or (iv) a combination of these and other methods. To arrive at the appropriate methodology, the FVC may consider a non-exclusive list of factors, which are specific to the security as well as whether the security is traded on the domestic or foreign markets. The FVC monitors the results of fair valuation determinations and regularly reports the results to the Board of Trustees. The Fund attempts to establish a price that it might reasonably expect to receive upon the current sale of that security. That said, there can be no assurance that the fair value assigned to a security is the price at which a security could have been sold during the period in which the particular fair value was used to value the security. To the extent the inputs used are observable, these securities are classified as Level 2 investments; otherwise, they are classified as Level 3 investments within the hierarchy. Equity securities listed on a non-u.s. exchange ( non-u.s. securities ) are generally fair valued daily by an independent fair value pricing service approved by the Board of Trustees. The fair valuations for non-u.s. securities may not be the same as quoted or published prices of the securities on the exchange on which such securities trade. Such securities are categorized as Level 2 investments within the hierarchy. If daily fair value prices from the independent fair value pricing service are not available, such non-u.s. securities are generally valued at the last quoted sale price at the close of an exchange on which the security is traded and categorized as Level 1 investments within the hierarchy. s of foreign securities, currencies, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the exchange rate of said currencies against the U.S. dollar, as of Valuation Time, as provided by an independent pricing service approved by the Board of Trustees. At September 30, 2017, 100% of the market value of the Fund was determined based on Level 1 inputs. Transfers between levels are recognized as of the beginning of the reporting period. During the period ended September 30, 2017, there were no transfers into or out of Level 1, Level 2 or Level 3. The following is a summary of the Fund s derivative instruments categorized by risk exposure as of September 30, Please see below for information on the Fund s policy regarding the objectives and strategies for using financial futures contracts. Futures Contracts The Fund is subject to equity price risk in the normal course of pursuing its objective(s). The Fund entered into financial futures contracts ( futures contracts ) for the purpose of reducing active risk in the portfolio. Futures contracts are contracts for delayed delivery of securities or currencies at a specific future date and at a specific price or currency amount. Upon entering into a futures contract, the Fund is required to segregate an initial margin deposit of cash and/or other assets equal to a certain percentage of the futures contract s notional value. Under a futures contract, the Fund agrees to receive from or pay to a broker an amount of cash equal to the daily fluctuation in value of the futures contract. Subsequent receipts or payments, known as variation margin receipts or payments, are made each day, depending on the fluctuation in the fair value of the futures contract, and are recognized by the Fund as unrealized gains or losses. Futures contracts are generally valued daily at their settlement price as provided by an independent pricing service approved by the Board of Trustees, and are generally categorized as Level 1 investments within the hierarchy. Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of futures contracts and may realize a loss. The use of futures contracts for hedging purposes involves the risk of imperfect correlation in the movements in the price of the futures contracts and the underlying assets.

5 The following tables provide a summary of the Fund s derivative instruments categorized by risk exposure as of September 30, 2017: Fair s of Derivatives not Accounted for as Hedging Instruments as of September 30, 2017 Assets: Fair Futures Contracts Equity risk Unrealized appreciation from futures contracts $111,468 Total $111,468