L
O
R
D
A
B
B
ETT
S
E
M
I
A
NNU
A
L
REP
O
R
T
Lord Abbett
Alpha Strategy
Fund
Health
Care Fund
Focused
Growth
Fund
International
Equity
Fund
Focused
Large Cap Value Fund
International Opportunities Fund
Focused
Small Cap Value Fund
International
Value Fund
Fundamental
Equity
Fund
Micro Cap Growth
Fund
Global
Equity
Fund
Value Opportunities
Fund
Growth
Leaders
Fund
F
or
the
six-month
period
ended
April
30,
2024
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page FC1
Table of Contents
1
A Letter
to
Shareholders
2
Information
About
Your
Fund’
s Expenses
and
Holdings
Presented
by
Portfolio
Allocation/Sector
Schedules
of
Investments:
29
Alpha
Str ategy
Fund
30
Focused
Gr owth
Fund
32
Focused
Lar ge Cap
Value
Fund
34
Focused
Small
Cap
Value
Fund
37
Fundamental
Equity
Fund
40
Global
Equity
Fund
45
Gr owth
Leader
s Fund
48
Health
Car e Fund
51
International
Equity
Fund
57
International
Opportunities
Fund
62
International
Value
Fund
67
Micr
o Cap
Gr owth
Fund
70
Value
Opportunities
Fund
74
Statements
of
Assets
and
Liabilities
82
Statements
of
Operations
86
Statements
of
Changes
in
Net
Assets
96
Financial
Highlights
146
Notes
to
Financial
Statements
182
Supplemental
Information
to
Shareholders
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page FC3
1
Lor d Abbett
Securities
Tru st
Lor d Abbett
Alpha
Str ategy
Fund,
Lor d Abbett
Focu sed
Gr owth
Fund,
Lor d Abbett
Focu sed Lar ge Cap Value
Fund,
Lor d Abbett
Focused Small Cap Value Fund, Lord
Abbett Fundamental Equity
Fund,
Lor d Abbett
Global
Equity
Fund,
Lor d Abbett
Gr owth
Leader
s Fund,
Lor d
Abbett
Health
Car e Fund,
Lor d Abbett
International
Equity
Fund,
Lor d Abbett
International
Opportunities
Fund,
Lor d Abbett
International Value Fund, Lord
Abbett Micro Cap Growth Fund,
and Lor d Abbett
Value
Opportunities
Fund
Semiannual
Report
For
the
six-month
period
ended
April
30,
20
24
Dear
Shar
eholder
s:
We ar e pleased
to pr ovide
you
with this semiannual
report for Lor d Abbett
Securities
Trust for the six-month
period
ended
April 30, 20 24. For
additional
information
about the Funds, please visit our
website at www.lordabbett.com, wher e you can access
the quarterly
commentaries
by the Funds’
portfolio
managers. General information about Lord Abbett
mutual
funds , as well as in-depth
discussions
of market
tr ends and investment
str ategies
, is also pr ovided
in
Lor
d
Abbett
Insights
,
a quarterly
newsletter
available
on
our website.
Thank
you for investing
in Lor d Abbett
mutual
funds . We value the trust that you place in us and look
forwar
d to serving
your investment
needs
in the year s
to come.
Best
regar ds ,
Douglas
B. Sieg
Trustee,
Pr esident
and Chief
Executive
Officer
From left to right: Evelyn E. Guernsey,
Independent Chair of the Lord Abbett
Funds and Douglas B. Sieg, Trustee,
President and Chief Executive Officer of
the Lord Abbett Funds.
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 1
2
Expen
se Ex ample
As a shar eholder
of a Fund,
you incur two types
of costs:
(1) tr ansaction
costs ,
including
sales char ges (loads)
on pur chase
payments
(these
char ges vary among
the
shar e classes);
and (2) ongoing
costs , including
management
fees; distribution
and service
(12b-1)
fees (these
char ges vary among
the shar e classes);
and other Fund expenses
. This
Example
is intended
to help you under stand your ongoing
costs (in dollar s) of investing
in each Fund and to compar
e these costs with the ongoing
costs of investing
in other
mutual
funds .
The Example
is based
on an investment
of $1,000
invested
at the beginning
of the
period
and held for the entir e period
(November
1, 20 23 thr ough April 30, 20 24).
Actual
Expen
ses
For each class of each Fund, the fir st line of the applicable
table on the following
pages
pr ovides
information
about
actual
account
values
and actual
expenses
. You may use the
information
in this line, together
with the amount
you invested,
to estimate
the expenses
that you paid over the period.
Simply
divide
your account
value by $1,000
(for example,
an
$8,600
account
value divided
by $1,000
= 8.6), then multiply
the result by the number
in
the fir st line under
the heading
titled “Expenses
Paid During
Period 11/1/23
– 4/30/24”
to
estimate
the expenses
you paid on your account
during
this period.
Hypothetical
Example
for
Compari
son
Purposes
For each class of each Fund, the second
line of the applicable
table on the following
pages pr ovides
information
about hypothetical
account
values
and hypothetical
expenses
based
on the Fund’s
actual
expense
ratio and an assumed
rate of return of 5% per year
befor e expenses
, which
is not the Fund’s
actual
return.
The hypothetical
account
values
and expenses
may not be used to estimate
the actual
ending
account
balance
or expenses
you paid for the period.
You may use this information
to compar
e the ongoing
costs of
investing
in each Fund and other funds . To do so, compar
e this 5% hypothetical
example
with the 5% hypothetical
examples
that appear
in the shar eholder
reports
of the
other funds .
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 2
3
Alpha
Str ategy
Fund
Please
note that the expenses
shown
in the table ar e meant
to highlight
your ongoing
costs only and do not reflect
any tr ansactional
costs , such as sales char ges (loads).
Ther efor e, the second
line of the table is useful
in comparing
ongoing
costs only , and will
not help you determine
the relative
total costs of owning
differ ent funds . In addition,
if
these tr ansactional
costs wer e included,
your costs would
have been higher .
Beginning
Ending
Expenses
Account
Account
Paid During
Value
Value
Period
†#
________
__________
__________
11/1/23
-
11/1/23
4/30/24
4/30/24
________
__________
__________
Class
A
Actual
$1,000.00
$1,200.20
$2.35
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
22.73
$2.16
Class
C
Actual
$1,000.00
$1,195.40
$6.44
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 19.00
$5.92
Class
F
Actual
$1,000.00
$1,200.80
$1.53
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
23.47
$1.4
1
Class
F3
Actual
$1,000.00
$1,20
1.50
$0.55
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
24.37
$0.50
Class
I
Actual
$1,000.00
$1,20
1.50
$0.99
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
23.97
$0.9
1
Class
R2
Actual
$1,000.00
$1,197.60
$4.26
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
20.98
$3.92
Class
R3
Actual
$1,000.00
$1,198.30
$3.72
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 21.48
$3.42
Class
R4
Actual
$1,000.00
$1,200.00
$2.35
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
22.73
$2.16
Class
R5
Actual
$1,000.00
$1,20
1.50
$0.99
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
23.97
$0.9
1
Class
R6
Actual
$1,000.00
$1,20
2.00
$0.55
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
24.37
$0.50
†
For each class of the Fund, net expenses are equal to the annualized expense ratio for such class (0.43% for Class A, 1.18% for
Class C, 0.28% for Class F, 0.10% for Class F3, 0.18% for Class I, 0.78% for Class R2, 0.68% for Class R3, 0.43% for Class R4,
0.18% for Class R5 and 0.10% for Class R6) multiplied by the average account value over the period, multiplied by 182/366
(to reflect one-half year period).
#
Does not include expenses of the Underlying Funds in which Alpha Strategy Fund invests.
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 3
Portfolio
Holding
s Pr esented
by Portfolio
Allocation
April
30,
20
24
Underlying
Fund
Name
%*
Lor d Abbett
Developing
Gr owth
Fund,
Inc.
– Class
I
20.0
7%
Lor d Abbett
Securities
Trust
– Focused
Small
Cap
Value
Fund
– Class
I
9.95%
Lor d Abbett
Securities
Trust
– International
Opportunities
Fund
– Class
I
20.12%
Lor d Abbett
Securities
Trust
– Micr
o Cap
Gr owth
Fund
– Class
I
9.93%
Lor d Abbett
Resear
ch Fund,
Inc.
– Small
Cap
Value
Fund
– Class
I 19.9
1%
Lor d Abbett
Securities
Trust
– Value
Opportunities
Fund
– Class
I
19.95%
Repur
chase
Agr eements
0.0 7%
Total
100.00%
*
Repr esents
per cent of total investments
, which
e
xcludes
derivatives
.
4
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 4
5
Focu sed Gr owth
Fund
Please
note that the expenses
shown
in the table ar e meant
to highlight
your ongoing
costs only and do not reflect
any tr ansactional
costs , such as sales char ges (loads).
Ther efor e, the second
line of the table is useful
in comparing
ongoing
costs only , and will
not help you determine
the relative
total costs of owning
differ ent funds . In addition,
if
these tr ansactional
costs wer e included,
your costs would
have been higher .
Beginning
Ending
Expenses
Account
Account
Paid During
Value
Value
Period
†
________
__________
__________
11/1/23
-
11/1/23
4/30/24
4/30/24
________
__________
__________
Class
A
Actual
$1,000.00
$1,295.90
$
5.99
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
19.64
$
5.27
Class
C
Actual
$1,000.00
$
1,29
1.7 0 $1
0.26
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 15.9
1 $
9.0 2
Class
F
Actual
$1,000.00
$
1,297.7
0 $
4.57
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 20.89
$
4.0 2
Class
F3*
Actual
$1,000.00
$
1,298.30
$
3.83
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 21.53
$
3.37
Class
I
Actual
$1,000.00
$1,297.50
$
4.57
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
20.89
$
4.0 2
Class
R3
Actual
$1,000.00
$1,294.30
$
7.42
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 18.40
$
6.52
Class
R4
Actual
$1,000.00
$1,295.80
$
5.99
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 19.64
$
5.27
Class
R5
Actual
$1,000.00
$1,297.7
0 $
4.57
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
20.89
$
4.0 2
Class
R6*
Actual
$1,000.00
$1,298.80
$
3.83
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 21.53
$
3.37
†
For each
class
of the Fund,
net expenses
ar e equal
to the annualized
expense
ratio
for such
class
(1.05%
for Class
A,
1.80%
for Class
C, 0.80%
for Class
F, 0.67%
for Class
F3, 0.80%
for Class
I, 1.30%
for Class
R3, 1.05%
for Class
R4, 0.80%
for Class
R5 and
0.67%
for Class
R6) multiplied
by the aver
age
account
value
over
the period,
multiplied
by 182/366
(to reflect
one-half
year
period).
* The
annualized
expenses
have
been
updated
to 0.65%
for Classes
F3 and
R6. Had
these
updated
expense
ratios
been
in
place
thr oughout
the most
recent
fiscal
half-year
, expenses
paid
during
the period
would
have
been:
Hypothetical
(5%
Return
Actual
Befor
e Expenses)
______
______________
Class
F3 $
3.7 1
$3.27
Class
R6 $3.72
$3.27
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 5
Portfolio
Holding
s Pr esented
by Sector
April
30,
20
24
Sector*
%**
Communication
Services
15.04%
Consumer
Discr
etionary
15.6
1%
Financials
1.55%
Health
Car e
13.57%
Industrials
6.30%
Information
Technology
46.47%
Repur
chase
Agr eements
1.46%
Total
100.00%
*
A sector
may comprise
sever al industries
.
*
* Repr esents
per cent of total investments
, which
e
xcludes
derivatives
.
6
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 6
7
Focu sed Lar ge Cap Value
Fund
Please
note that the expenses
shown
in the table ar e meant
to highlight
your ongoing
costs only and do not reflect
any tr ansactional
costs , such as sales char ges (loads).
Ther efor e, the second
line of the table is useful
in comparing
ongoing
costs only , and will
not help you determine
the relative
total costs of owning
differ ent funds . In addition,
if
these tr ansactional
costs wer e included,
your costs would
have been higher .
Beginning
Ending
Expenses
Account
Account
Paid During
Value
Value
Period
†
________
__________
__________
11/1/23
-
11/1/23
4/30/24
4/30/24
________
__________
__________
Class
A
Actual
$1,000.00
$1,247.40
$5.36
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
20.09
$4.82
Class
C
Actual
$1,000.00
$1,243.7
0 $9.54
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
16.36
$8.57
Class
F
Actual
$1,000.00
$1,249.50
$3.97
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 21.33
$3.57
Class
F3*
Actual
$1,000.00
$1,250.30
$3.92
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 21.38
$3.52
Class
I
Actual
$1,000.00
$1,249.50
$3.97
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 21.33
$3.57
Class
R3
Actual
$1,000.00
$1,245.80
$6.76
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 18.85
$6.0
7
Class
R4
Actual
$1,000.00
$1,246.90
$5.36
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
20.09
$4.82
Class
R5
Actual
$1,000.00
$1,249.20
$3.97
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
21.33
$3.57
Class
R6*
Actual
$1,000.00
$1,250.00
$3.92
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
21.38
$3.52
†
For each
class
of the Fund,
net expenses
ar e equal
to the annualized
expense
ratio
for such
class
(0.96%
for Class
A,
1.7 1% for Class
C, 0.7 1% for Class
F, 0.7 0% for Class
F3, 0.7 1% for Class
I, 1.2 1% for Class
R3, 0.96%
for Class
R4, 0.7 1%
for Class
R5 and
0.7 0% for Class
R6) multiplied
by the aver
age
account
value
over
the period,
multiplied
by 182/366
(to reflect
one-half
year
period).
* The
annualized
expenses
have
been
updated
to 0.67%
for Classes
F3 and
R6. Had
these
updated
expense
ratios
been
in
place
thr oughout
the most
recent
fiscal
half-year
, expenses
paid
during
the period
would
have
been:
Hypothetical
(5%
Return
Actual
Befor
e Expenses)
______
______________
Class
F3 $3.75
$3.37
Class
R6 $3.75
$3.37
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 7
Portfolio
Holding
s Pr esented
by Sector
April
30,
20
24
Sector*
%**
Communications
3.78%
Consumer
, Cyclical
1
1.32%
Consumer
, Non-cyclical
11.63%
Ener
gy
9.87%
Financial
25.47%
Industrial
18.20%
Technology
15.75%
Repur
chase
Agr eement
0.7 1%
Money
Market
Funds
(a)
2.94%
Time
Deposits
(
a)
0.33%
Total
100.00%
* A sector
may comprise
sever al industries
.
** Repr esents
per cent of total investments
, which
excludes
derivatives
.
(a)
Securities
wer e pur chased
with the cash collater
al
fr om loaned
securities
.
8
109036_01_Lord Abbett_FM_SAR.qxp_01 6/24/24 4:55 PM Page 8
9
Focu sed Small
Cap Value
Fund
Please
note that the expenses
shown
in the table ar e meant
to highlight
your ongoing
costs only and do not reflect
any tr ansactional
costs , such as sales char ges (loads).
Ther efor e, the second
line of the table is useful
in comparing
ongoing
costs only , and will
not help you determine
the relative
total costs of owning
differ ent funds . In addition,
if
these tr ansactional
costs wer e included,
your costs would
have been higher .
Beginning
Ending
Expenses
Account
Account
Paid During
Value
Value
Period
†
________
__________
__________
11/1/23
-
11/1/23
4/30/24
4/30/24
________
__________
__________
Class
A
Actual
$1,000.00
$1,149.30
$
6.84
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 18.50
$
6.42
Class
C
Actual
$1,000.00
$1,145.40
$1
0.83
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 14.77
$1
0.17
Class
F
Actual
$1,000.00
$1,150.90
$
5.5 1
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 19.74
$
5.17
Class
F3*
Actual
$1,000.00
$
1,15
1.20
$
5.19
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$1,0
20.04
$
4.87
Class
I
Actual
$1,000.00
$
1,15
1.1 0 $
5.5 1
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 19.74
$
5.17
Class
R5
Actual
$1,000.00
$1,150.60
$
5.5 1
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 19.74
$
5.17
Class
R6*
Actual
$1,000.00
$
1,15
1.20
$
5.19
Hypothetical
(5%
Return
Befor
e Expenses)
$1,000.00
$
1,0 20.04
$
4.87
†
For each
class
of the Fund,
net expenses
ar e equal
to the annualized
expense
ratio
for such
class
(1.28%
for Class
A,
2.03%
for Class
C, 1.03%
for Class
F, 0.97%
for Class
F3, 1.03%
for Class
I, 1.03%
for Class
R5 and
0.97%
for Class
R6)
multiplied
by the aver
age
account
value
over
the period,
multiplied
by 182/366
(to reflect
one-half
year
period).
* The
annualized
expenses
have
been
updated
to 0.98%
for Classes
F3 and
R6. Had
these
updated
expense
ratios
been
in
place
thr oughout
the most
recent
fiscal
half-year
, expenses
paid
during
the period
would
have
been:
Hypothetical
(5%
Return
Actual
Befor
e Expenses)
______
______________
Class
F3 $5.24
$4.92
Class
R6 $5.24
$4.92
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