Statement of Investments September 30, 2013 (Unaudited)

Transcription

1 Statement of Investments Common Stocks 99.8% Shares AUSTRALIA 0.6% Real Estate Investment Trusts (REITs) 0.6% Westfield Group 52,720 $ 541,769 AUSTRIA 0.6% Real Estate Management & Development 0.6% Immofinanz AG* 121, ,424 BRAZIL 1.8% Information Technology Services 0.7% Cielo SA 22, ,860 Insurance 1.1% BB Seguridade Participacoes SA 98, ,560 1,567,420 CANADA 4.8% Airlines 1.1% Westjet Airlines Ltd. 38, ,076 Oil, Gas & Consumable Fuels 3.7% Canadian Oil Sands Ltd. 28, ,264 Gran Tierra Energy, Inc.* 88, ,514 Lightstream Resources Ltd. 53, ,821 Petrobank Energy & Resources Ltd.* 54,400 21,917 Petrominerales Ltd. 40, ,026 ShaMaran Petroleum Corp.* 881, ,290 Suncor Energy, Inc. 25, ,890 3,267,722 4,192,798 CHINA 2.7% Commercial Banks 1.6% China Construction Bank Corp., H Shares 1,766,450 1,361,355 Electronic Equipment, Instruments & Components 1.1% Hollysys Automation Technologies Ltd.* 64, ,265 2,328,620 FRANCE 3.8% Automobiles 0.9% Peugeot SA* 45, ,151 Electrical Equipment 1.2% Schneider Electric SA 12,083 1,022,435 Food & Staples Retailing 1.7% Carrefour SA 44,232 1,517,147 3,287,733 GERMANY 2.9% Multi-Utilities 0.7% E.ON SE 32, ,585 Pharmaceuticals 1.4% Bayer AG REG 10,188 1,201,479 Shares GERMANY (continued) Semiconductors & Semiconductor Equipment 0.8% Infineon Technologies AG 72,463 $ 726,247 2,505,311 HONG KONG 2.4% Insurance 1.6% AIA Group Ltd. 284,255 1,337,582 Wireless Telecommunication Services 0.8% China Mobile Ltd. 64, ,764 2,063,346 INDONESIA 0.6% Commercial Banks 0.6% Bank Rakyat Indonesia Persero Tbk PT 874, ,114 IRELAND 3.0% Health Care Equipment & Supplies 0.8% Covidien PLC 12, ,524 Information Technology Services 0.8% Accenture PLC, Class A 9, ,036 Machinery 1.4% Ingersoll-Rand PLC 17,400 1,129,956 2,590,516 ISRAEL 0.7% Software 0.7% Check Point Software Technologies Ltd.* 10, ,504 JAPAN 12.3% Airlines 1.1% Japan Airlines Co., Ltd. 15, ,444 Automobiles 1.8% Toyota Motor Corp. 25,200 1,616,267 Commercial Banks 1.3% Mitsubishi UFJ Financial Group, Inc. 177,500 1,138,548 Diversified Consumer Services 0.7% Benesse Holdings, Inc. 16, ,409 Diversified Financial Services 1.6% ORIX Corp. 83,900 1,371,592 Household Durables 1.2% Panasonic Corp. 105,100 1,017,445 Leisure Equipment & Products 1.0% Sankyo Co., Ltd. 17, ,602 Machinery 0.9% THK Co., Ltd. 35, ,603 Personal Products 1.5% Shiseido Co., Ltd. 74,600 1,343,654 Trading Companies & Distributors 1.2% ITOCHU Corp. 84,700 1,043,435 10,741,999 1

2 Shares NETHERLANDS 3.4% Beverages 1.1% Heineken NV 13,911 $ 985,550 Chemicals 1.0% Koninklijke DSM NV 11, ,400 Machinery 1.3% CNH Industrial NV* 83,225 1,067,362 2,938,312 NORWAY 1.3% Diversified Telecommunication Services 1.3% Telenor ASA 48,279 1,103,341 RUSSIA 0.7% Commercial Banks 0.7% Sberbank of Russia 195, ,643 SOUTH AFRICA 1.5% Media 1.5% Naspers Ltd., Class N 14,362 1,329,661 SOUTH KOREA 1.2% Semiconductors & Semiconductor Equipment 1.2% Samsung Electronics Co., Ltd ,051,939 SPAIN 1.1% Construction & Engineering 1.1% Obrascon Huarte Lain SA 24, ,446 SWEDEN 0.6% Oil, Gas & Consumable Fuels 0.6% Lundin Petroleum AB* 23, ,529 SWITZERLAND 5.3% Capital s 1.1% Credit Suisse Group AG REG* 32, ,053 Food Products 1.5% Nestle SA REG 19,250 1,342,382 Metals & Mining 1.1% Glencore Xstrata PLC* 176, ,115 Pharmaceuticals 1.6% Novartis AG REG 17,615 1,354,913 4,643,463 TAIWAN 0.8% Computers & Peripherals 0.8% Catcher Technology Co., Ltd., GDR Reg. S 27, ,596 THAILAND 0.6% Commercial Banks 0.6% Kasikornbank PCL 98, ,065 UNITED KINGDOM 10.9% Beverages 0.8% SABMiller PLC 13, ,624 Capital s 1.0% Aberdeen Asset Management PLC 143, ,976 Commercial Banks 1.7% HSBC Holdings PLC 139,167 1,506,253 Shares UNITED KINGDOM (continued) Food Products 0.6% Associated British Foods PLC 17,879 $ 542,626 Insurance 0.7% Direct Line Insurance Group PLC 174, ,366 Metals & Mining 1.0% Rio Tinto PLC 17, ,227 Oil, Gas & Consumable Fuels 1.7% BP PLC 207,169 1,452,429 Real Estate Investment Trusts (REITs) 0.9% Big Yellow Group PLC 106, ,491 Textiles, Apparel & Luxury Goods 1.2% Burberry Group PLC 39,612 1,048,181 Tobacco 1.3% Imperial Tobacco Group PLC 31,267 1,155,864 9,476,037 UNITED STATES 36.2% Biotechnology 1.1% Celgene Corp.* 6, ,580 Building Products 1.2% Owens Corning, Inc.* 26,600 1,010,268 Capital s 1.5% Morgan Stanley 48,400 1,304,380 Chemicals 1.6% LyondellBasell Industries NV, Class A 18,825 1,378,555 Commercial Banks 3.3% BankUnited, Inc. 24, ,679 PNC Financial Services Group, Inc. (The) 13, ,340 Wells Fargo & Co. 30,700 1,268,523 2,976,542 Commercial Services & Supplies 1.3% Herman Miller, Inc. 40,000 1,167,200 Diversified Consumer Services 0.9% Apollo Group, Inc., Class A* 36, ,646 Food Products 1.3% Hormel Foods Corp. 27,500 1,158,300 Health Care Equipment & Supplies 1.1% St. Jude Medical, Inc. 17, ,064 Health Care Providers & Services 1.6% UnitedHealth Group, Inc. 20,000 1,432,200 Hotels, Restaurants & Leisure 1.1% Royal Caribbean Cruises Ltd. 25, ,968 Household Durables 1.1% Whirlpool Corp. 6, ,860 Household Products 2.4% Colgate-Palmolive Co. 13, ,340 Procter & Gamble Co. (The) 17,100 1,292,589 2,110,929 Insurance 2.3% Principal Financial Group, Inc. 24,300 1,040,526 2

3 Shares UNITED STATES (continued) Insurance (continued) Prudential Financial, Inc. 12,100 $ 943,558 1,984,084 Internet Software & Services 3.4% Facebook, Inc., Class A* 20,491 1,029,468 Google, Inc., Class A* 2,280 1,997,074 3,026,542 Life Sciences Tools & Services 1.8% Thermo Fisher Scientific, Inc. 16,800 1,548,120 Machinery 0.8% Timken Co. 11, ,400 Media 1.2% Viacom, Inc., Class B 12,200 1,019,676 Multi-Utilities 0.8% MDU Resources Group, Inc. 25, ,235 Oil, Gas & Consumable Fuels 2.1% Hess Corp. 13,300 1,028,622 Occidental Petroleum Corp. 8, ,444 1,833,066 Pharmaceuticals 1.4% AbbVie, Inc. 26,600 1,189,818 Semiconductors & Semiconductor Equipment 1.0% Micron Technology, Inc.* 49, ,018 Software 0.9% Symantec Corp. 30, ,775 Specialty Retail 1.0% Lowe's Cos., Inc. 17, ,414 31,534,640 Total Common Stocks (cost $70,748,112) 86,894,226 * Denotes a non-income producing security. (a) Represents 7-day effective yield as of September 30, (b) At September 30, 2013, the tax basis cost of the Fund's investments was $71,009,514, tax unrealized appreciation and depreciation were $18,341,015 and $(2,407,621), respectively. AB AG ASA GDR Ltd. NV PCL PLC REG Reg. S REIT SA SE Tbk PT Stock Company Stock Corporation Stock Corporation Global Depositary Receipt Limited Public Traded Company Public Company Limited Public Limited Company Registered Shares Regulation S Real Estate Investment Trust Stock Company European Public Limited Liability Company State Owned Company Mutual Fund 0.1% Shares Money Fund 0.1% Fidelity Institutional Money Fund - Institutional Class, 0.08% (a) 48,682 48,682 Total Mutual Fund (cost $48,682) 48,682 Total Investments (cost $70,796,794) (b) % 86,942,908 Other assets in excess of liabilities % 45,060 NET ASSETS % $ 86,987,968 3

4 At September 30, 2013, the Fund's open forward foreign currency contracts against the United States Dollar were as follows: Delivery Date Delivered Contract Unrealized Appreciation/ (Depreciation) Counterparty Short Contracts: Australian Dollar Morgan Stanley Co., Inc. 11/20/13 (940,000 ) $ (884,069 ) $ (874,027 ) $ 10,042 Brazilian Real Credit Suisse International 11/20/13 (2,770,000 ) (1,178,924 ) (1,235,342 ) (56,418 ) British Pound Credit Suisse International 11/20/13 (1,875,000 ) (2,898,866 ) (3,034,278 ) (135,412 ) British Pound Credit Suisse International 11/20/13 (230,000 ) (356,763 ) (372,205 ) (15,442 ) Canadian Dollar Credit Suisse International 11/20/13 (3,320,000 ) (3,205,027 ) (3,219,140 ) (14,113 ) Chinese Yuan Credit Suisse International 11/20/13 (12,045,000 ) (1,944,467 ) (1,963,719 ) (19,252 ) Euro Morgan Stanley Co., Inc. 11/20/13 (195,000 ) (261,990 ) (263,840 ) (1,850 ) Euro Credit Suisse International 11/20/13 (375,000 ) (501,404 ) (507,384 ) (5,980 ) Hong Kong Dollar Credit Suisse International 11/20/13 (1,795,000 ) (231,521 ) (231,462 ) 59 Indonesian Rupiah Credit Suisse International 11/20/13 (7,211,300,000 ) (675,848 ) (617,150 ) 58,698 Israeli New Shekel Credit Suisse International 11/20/13 (1,865,000 ) (523,538 ) (528,740 ) (5,202 ) Japanese Yen Credit Suisse International 11/20/13 (98,100,000 ) (1,002,312 ) (998,301 ) 4,011 Korean Won Credit Suisse International 11/20/13 (914,000,000 ) (814,835 ) (847,752 ) (32,917 ) South African Rand Credit Suisse International 11/20/13 (8,370,000 ) (828,422 ) (827,599 ) 823 South African Rand Credit Suisse International 11/20/13 (4,030,000 ) (401,978 ) (398,474 ) 3,504 Swedish Krona Credit Suisse International 11/20/13 (2,650,000 ) (404,143 ) (411,859 ) (7,716 ) Swiss Franc Credit Suisse International 11/20/13 (2,160,000 ) (2,316,801 ) (2,389,420 ) (72,619 ) Taiwan Dollar Credit Suisse International 11/20/13 (20,200,000 ) (675,585 ) (683,712 ) (8,127 ) Taiwan Dollar Credit Suisse International 11/20/13 (19,200,000 ) (650,847 ) (649,865 ) 982 Thailand Baht Credit Suisse International 11/20/13 (16,380,000 ) (521,158 ) (522,049 ) (891 ) Total Short Contracts $ (20,278,498 ) $ (20,576,318 ) $ (297,820 ) Delivery Date Received Contract Unrealized Appreciation/ (Depreciation) Counterparty Long Contracts: Australian Dollar Credit Suisse International 11/20/13 585,000 $ 529,469 $ 543,942 $ 14,473 Danish Krone Credit Suisse International 11/20/13 2,240, , ,493 8,092 Euro Credit Suisse International 11/20/13 1,835,000 2,432,672 2,482,800 50,128 Indonesian Rupiah Credit Suisse International 11/20/13 1,603,500, , , Mexican Peso Credit Suisse International 11/20/13 10,770, , ,346 (17,114 ) Norwegian Krone Credit Suisse International 11/20/13 660, , ,552 (2,095 ) Philippine Peso Credit Suisse International 11/20/13 33,550, , ,699 4,718 Singapore Dollar Credit Suisse International 11/20/13 780, , ,780 5,688 Taiwan Dollar Credit Suisse International 11/20/13 20,200, , ,713 6,996 Thailand Baht Credit Suisse International 11/20/13 2,970,000 91,537 94,657 3,120 Total Long Contracts $ 6,595,444 $ 6,670,211 $ 74,767 4

5 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. o Level Quoted prices in active markets for identical assets o Level Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.) o Level 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 has delegated authority to NFA, and the Trust s administrator, Nationwide Fund Management LLC ( NFM ), to assign fair value. NFA and NFM have established a Fair Valuation Committee ( FVC ) to assign these fair valuations. The FVC follows guidelines approved by the Board of Trustees to assign the fair value. 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. The FVC monitors the results of fair valuation determinations and regularly reports the results to the Board of Trustees. Securities may be fair valued in a variety of 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 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 fair valuation of securities takes into account relevant factors and surrounding circumstances, including, but not limited to, the prices of related or comparable assets or liabilities, recent transactions, market multiples, anticipated cash flows, the nature and duration of any restrictions on transfer, book values, and other information relevant to the investment. Methods utilized to determine 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. Fair valuations may also take into account significant events that occur before Valuation Time but after the close of the principal market on which a security trades that materially affect the value of such security. The following table provides a summary of the inputs used to value the Fund s net assets as of September 30, Please refer to the Statement of Investments for additional information on portfolio holdings. Level 1 Level 2 Level 3 Total Assets: Common Stocks Airlines $ 925,076 $ 963,444 $ --- $ 1,888,520 Automobiles --- 2,364, ,364,418 Beverages --- 1,665, ,665,174 Biotechnology 923, ,580 Building Products 1,010, ,010,268 Capital s 1,304,380 1,867, ,171,409 Chemicals 1,378, , ,263,955 Commercial Banks 2,976,542 5,698, ,675,520 Commercial Services & Supplies 1,167, ,167,200 Computers & Peripherals , ,596 Construction & Engineering , ,446 Diversified Consumer Services 761, , ,369,055 Diversified Financial Services --- 1,371, ,371,592 Diversified Telecommunication Services --- 1,103, ,103,341 Electrical Equipment --- 1,022, ,022,435 Electronic Equipment, Instruments & Components 967, ,265 Food & Staples Retailing --- 1,517, ,517,147 5

6 Level 1 Level 2 Level 3 Total Assets: (continued) Food Products $ 1,158,300 $ 1,885,008 $ --- $ 3,043,308 Health Care Equipment & Supplies 1,675, ,675,588 Health Care Providers & Services 1,432, ,432,200 Hotels, Restaurants & Leisure 979, ,968 Household Durables 951,860 1,017, ,969,305 Household Products 2,110, ,110,929 Information Technology Services 1,328, ,328,896 Insurance 2,951,644 1,939, ,891,592 Internet Software & Services 3,026, ,026,542 Leisure Equipment & Products , ,602 Life Sciences Tools & Services 1,548, ,548,120 Machinery 1,794,356 1,846, ,641,321 Media 1,019,676 1,329, ,349,337 Metals & Mining --- 1,812, ,812,342 Multi-Utilities 713, , ,290,820 Oil, Gas & Consumable Fuels 5,100,788 1,952, ,053,746 Personal Products --- 1,343, ,343,654 Pharmaceuticals 1,189,818 2,556, ,746,210 Real Estate Investment Trusts (REITs) --- 1,297, ,297,260 Real Estate Management & Development , ,424 Semiconductors & Semiconductor Equipment 863,018 1,778, ,641,204 Software 1,381, ,381,279 Specialty Retail 828, ,414 Textiles, Apparel & Luxury Goods --- 1,048, ,048,181 Tobacco --- 1,155, ,155,864 Trading Companies & Distributors --- 1,043, ,043,435 Wireless Telecommunication Services , ,764 Total Common Stocks $ 41,469,143 $ 45,425,083 $ --- $ 86,894,226 Forward Foreign Contracts , ,095 Mutual Fund 48, ,682 Total Assets $ 41,517,825 $ 45,597,178 $ --- $ 87,115,003 Liabilities: Forward Foreign Contracts --- (395,148 ) --- (395,148 ) Total Liabilities $ --- $ (395,148 ) $ --- $ (395,148 ) Total $ 41,517,825 $ 45,202,030 $ --- $ 86,719,855 Amounts designated as "---", which may include fair valued securities, are zero or have been rounded to zero. During the period ended September 30, 2013, there were no transfers into or out of Level 1, Level 2 or Level 3. 6

7 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 forward foreign currency contracts. Forward Foreign Contracts The Fund is subject to foreign currency exchange risk in the normal course of pursuing its objectives. The Fund entered into forward foreign currency contracts in connection with planned purchases or sales of securities denominated in a foreign currency and/or to hedge the U.S. dollar value of portfolio securities denominated in a foreign currency. A forward foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. Forward foreign currency contracts are generally valued at the mean of the last quoted bid and ask prices, as provided by an independent pricing service approved by the Board of Trustees, and are generally categorized as Level 2 investments within the hierarchy. A forward foreign currency contract is adjusted daily by the exchange rate of the underlying currency, and any gains or losses are recorded for financial statement purposes as unrealized gains or losses until the contract settlement date. Forward foreign currency contracts entail the risk of unanticipated movements in the value of the foreign currency relative to the U.S. dollar, and the risk that the counterparties to the contracts may be unable to meet their obligations under the contract. The following tables provide a summary of the Fund s derivative instruments categorized by risk exposure as of September 30, 2013: Fair s of Derivatives not Accounted for as Hedging Instruments as of September 30, 2013 Assets: Fair Forward Foreign Contracts risk Unrealized appreciation on forward foreign currency contracts $ 172,095 Total $ 172,095 Liabilities: Fair Forward Foreign Contracts risk Unrealized depreciation on forward foreign currency contracts $ (395,148) Total $ (395,148) 7