Form 497K NUVEEN INVESTMENT TRUST


         

Nuveen Dividend Growth Fund

 

Ticker
Class
A–NSBAX

Class C–NSBCX
Class
R6–NSBFX

Class I–NSBRX

 

30
November

2023

 

This summary prospectus is designed to provide investors with key Fund information in a clear and concise format. Before you
invest, you may want to review the Fund’s complete prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus, reports to shareholders and other information about the Fund online at
www.nuveen.com/prospectus. You can also get this information at no cost by calling (800) 257-8787 or by sending an e-mail request to [email protected]. If you purchase shares of the Fund through a broker-dealer or other financial intermediary
(such as a bank), the prospectus, reports to shareholders and other information will also be available from your financial intermediary. The Fund’s prospectus and statement of additional information, both dated November 30, 2023, are
incorporated by reference into this summary prospectus and may be obtained, free of charge, at the website, phone number or e-mail address noted
above.

Investment
Objective

The investment objective of the Fund is to seek an attractive total return comprised of income from dividends and
long-term capital appreciation.

Fees and Expenses of the
Fund

The following tables describe the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You
may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in other Nuveen Mutual Funds. More information about these and other discounts, as well as eligibility
requirements for each share class, is available from your financial advisor and in “How You Can Buy and Sell Shares” on page 17 of the Fund’s prospectus and “Purchase and Redemption of Fund Shares” on page S-56 of the
Fund’s statement of additional information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in the appendix to the Fund’s prospectus
entitled “Variations in Sales Charge Reductions and Waivers Available Through Certain Intermediaries.”

The
tables and examples below do not reflect any commissions that shareholders may be required to pay directly to their financial intermediaries when buying or selling Class I
shares.

Shareholder
Fees

(fees paid directly from your investment)

                     
     

Class A

 

Class C

 

Class R6

 

Class I

 

Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)

   

5.75%

 

None

 

None

 

None

 

Maximum
Deferred Sales Charge (Load)

(as a percentage of the lesser of purchase price or redemption proceeds)1

   

None

 

1.00%

 

None

 

None

 

Maximum Sales Charge (Load) Imposed on Reinvested Dividends

   

None

 

None

 

None

 

None

 

Exchange Fee

   

None

 

None

 

None

 

None

 

Annual Low Balance Account Fee (for accounts under $1,000)2

   

$15

 

$15

 

None

 

$15

 

1


Annual Fund Operating
Expenses

(expenses that you pay each year as a percentage of the value of your investment)

                                         
     

Class A

 

Class C

 

Class R6

 

Class I

 

Management
Fees

       

0.59

%

 

0.59

%

 

0.59

%

 

0.59

%

Distribution and/or Service (12b-1) Fees

       

0.25

%

 

1.00

%

 

0.00

%

 

0.00

%

Other
Expenses

       

0.08

%

 

0.08

%

 

0.03

%

 

0.08

%

Total
Annual Fund Operating Expenses

       

0.92

%

 

1.67

%

 

0.62

%

 

0.67

%

1 The contingent deferred sales charge on Class C shares applies only to redemptions within 12 months of purchase.

2 Fee applies to the following types of accounts under $1,000 held directly with the Fund: individual retirement accounts (IRAs), Coverdell
Education Savings Accounts and accounts established pursuant to the Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act
(UGMA).

Example

The
following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then either redeem or
do not redeem your shares at the end of a period. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these
assumptions your costs would be:

                                     
     

Class A

 

Class C

 

Class R6

 

Class I

 

1
Year

     

$

663

 

$

170

 

$

63

 

$

68

 

3 Years

     

$

851

 

$

526

 

$

199

 

$

214

 

5 Years

     

$

1,055

 

$

907

 

$

346

 

$

373

 

10 Years

     

$

1,641

 

$

1,976

 

$

774

 

$

835

 

Portfolio
Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns
over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses
or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 17% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund invests at least 80% of its net assets in dividend-paying common stocks and
preferred securities. Companies in certain economic sectors of the market have historically provided higher dividend yields than companies in other sectors and industries. As a result, given the Fund’s focus on dividend-paying securities, the
Fund may, from time to time, have a greater exposure to these higher dividend-yield sectors and industries than the broad equity
market.

The Fund may invest in small-, mid- and large-cap companies. The Fund may invest up to 25% of its net assets in non-
U.S. equity securities that are U.S. dollar-denominated.

Principal Risks

The value of your investment in this Fund will change daily. You could lose money by investing in the Fund. An investment
in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks of investing in the Fund listed below are presented alphabetically to facilitate
your ability to find particular risks and compare them with the risks of other funds. The significance of any specific risk to an investment in the Fund will vary over time depending on the composition of the Fund’s portfolio, market
conditions and other factors. Each risk summarized below is considered a “principal risk” of investing in the Fund, regardless of the order in which it
appears.

Active Management Risk—The Fund’s sub-adviser actively manages the Fund’s investments. Consequently, the Fund is subject to the risk
that the investment techniques and risk analyses employed by the Fund’s sub-adviser may not produce the desired results. This could cause the Fund to lose value or its investment results to lag relevant benchmarks or other funds with similar
objectives.

Currency Risk—Even though the non-U.S. securities held by the Fund are traded in U.S. dollars, their prices are typically indirectly
influenced by currency fluctuations. Changes in currency exchange rates may affect the Fund’s net asset value, the value of dividends and interest earned, and gains or losses realized on the sale of securities.

2


Cybersecurity Risk—Cybersecurity risk is the risk of an unauthorized breach and access to Fund assets, customer data (including private
shareholder information), or proprietary information, or the risk of an incident occurring that causes the Fund, its investment adviser or sub-adviser, custodian, transfer agent, distributor or other service provider, a financial intermediary or the
issuers of securities held by the Fund to suffer a data breach, data corruption or lose operational functionality. Successful cyber-attacks or other cyber-failures or events affecting the Fund, its service providers or the issuers of securities held
by the Fund may adversely impact the Fund or its shareholders. Additionally, a cybersecurity breach could affect the issuers in which the Fund invests, which may cause the Fund’s investments to lose
value.

Dividend-Paying Security Risk—The Fund’s investment in dividend-paying securities could cause the Fund to underperform similar funds that invest
without consideration of a company’s track record of paying dividends. Securities of companies with a history of paying dividends may not participate in a broad market advance to the same degree as most other securities, and a sharp rise in
interest rates or economic downturn could cause a company to unexpectedly reduce or eliminate its dividend. There is no guarantee that the issuers of the securities held by the Fund will declare dividends in the future or that, if declared, they
will remain at their current levels or increase over time.

Equity Security Risk—Equity securities in the Fund’s portfolio, including common stocks and preferred securities, may decline
significantly in price over short or extended periods of time, and such declines may occur because of declines in the equity market as a whole, or because of declines in only a particular country, company, industry, or sector of the market. Holders
of common stock generally are subject to more risks than holders of preferred securities because the status of common stockholders upon the bankruptcy of the issuer is subordinated to that of preferred security holders. Given the Fund’s focus on
dividend-paying securities, the Fund may, from time to time, have a greater exposure to higher dividend-yield sectors and industries than the broad equity market which would make the Fund more vulnerable to adverse developments affecting such
sectors or industries.

Foreign Investment Risk—Non-U.S. issuers or U.S. issuers with significant non-U.S. operations may be subject to risks in addition to those of
issuers located in or that principally operate in the United States as a result of, among other things, political, social and economic developments abroad, as well as armed conflicts and different legal, regulatory and tax environments. Foreign
investments may also have lower liquidity and be more difficult to value than investments in U.S. issuers. To the extent the Fund invests a significant portion of its assets in the securities of companies in a single country or region, it may be
more susceptible to adverse conditions affecting that country or region. Foreign investments may also be subject to risk of loss because of more or less foreign government regulation, less public information, less stringent investor protections and
less stringent accounting, corporate governance, financial reporting and disclosure standards.

Information Technology Sector Risk—The Fund currently invests a significant portion of its assets in the information technology sector, although this may
change over time. The information technology sector can be significantly affected by changes in, among other things, the supply and demand for specific products and services, the pace of technological development and product obsolescence, market
competition, government regulation, and patent and intellectual property rights.

Market Risk—The market value of the Fund’s investments may go up or down, sometimes rapidly or unpredictably and for short or
extended periods of time, due to the particular circumstances of individual issuers or due to general conditions impacting issuers more broadly. Global economies and financial markets have become highly interconnected, and thus economic, market or
political conditions or events in one country or region might adversely impact the value of the Fund’s investments whether or not the Fund invests in such country or region. Events such as war, terrorism, natural and environmental disasters
and the spread of infectious illnesses or other public health emergencies may have a severe negative impact on the global economy, could cause financial markets to experience extreme volatility and losses, and could result in the disruption of
trading and the reduction of liquidity in many instruments. Additionally, as inflation increases, the value of the Fund’s assets can
decline.

Preferred Security Risk—Preferred securities generally are subordinated to bonds and other debt instruments in a company’s capital
structure and therefore will be subject to greater credit risk than those debt instruments. In addition, preferred securities are subject to other risks, such as having no or limited voting rights, being subject to special redemption rights, having
distributions deferred or skipped, having floating interest rates or dividends, which may result in a decline in value in a falling interest rate environment, having fixed interest rates or dividends, which may result in a decline in value in a
rising interest rate environment, having limited liquidity, changing or unfavorable tax treatments and possibly being issued by companies in heavily regulated
industries.

Small- and Mid-Cap Company Risk—Securities of small-cap companies involve substantial risk. Prices of small-cap securities may be subject to more abrupt
or erratic movements, and to wider fluctuations and lower liquidity, than security

3


prices of larger, more established companies or broader market averages in general. It may be difficult
to sell small-cap securities at the desired time and price. While mid-cap securities may be slightly less volatile than small-cap securities, they still involve similar
risks.

Fund
Performance

The following bar chart and table provide some indication of the potential risks of investing in the Fund. The
Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at www.nuveen.com/performance or by calling (800)
257-8787.

The bar chart below shows the variability of the Fund’s performance from year to year for Class A shares.
The bar chart and highest/lowest quarterly returns that follow do not reflect sales charges, and if these charges were reflected, the returns would be less than those shown.

 

Class A Annual Total
Return*

PerformanceBarChartData(2013:25.48,2014:12.89,2015:-3.22,2016:11.57,2017:19.71,2018:-4.36,2019:31.56,2020:9.46,2021:26.86,2022:-9.75)

*Class A year-to-date
total return as of September 30, 2023 was 3.31%. The performance of the other share classes will differ due to their different expense
structures.

During the ten-year period ended December 31, 2022, the Fund’s highest and lowest quarterly returns were
15.03%

and -19.12%, respectively, for the quarters ended June 30, 2020 and March 31,
2020.

The table below shows the variability of the Fund’s average annual returns and how they compare over the
time periods indicated with those of a broad measure of market performance and an index of funds with similar investment objectives. All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and
do not reflect the impact of state and local taxes. After-tax returns are shown for Class A shares only; after-tax returns for other share classes will vary. Your own actual after-tax returns will depend on your specific tax situation and may differ
from what is shown here. After-tax returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as IRAs or employer-sponsored retirement
plans.

Both the bar chart and the table assume that all distributions have been reinvested. Performance reflects fee
waivers, if any, in effect during the periods presented. If any such waivers had not been in place, returns would have been reduced.

4


                                 

 

 

 

 

 

Average Annual Total Returns

 

 

 

 

 

for the Periods Ended

 

 

 

 

 

December
31, 2022

 

 

Inception

Date

1
Year

5
Years

10
Years

Since
Inception

(Class R6)

Class A (return before taxes)

 

3/28/06

 

 

(14.93

)%

 

8.24

%

 

10.53

%

 

N/A

 

Class A (return after taxes on
distributions)

 

 

 

 

(15.61

)%

 

6.92

%

 

9.37

%

 

N/A

 

Class A (return after taxes on distributions and sale of Fund shares)

 

 

 

 

(8.36

)%

 

6.31

%

 

8.42

%

 

N/A

 

Class C (return before taxes)

 

3/28/06

 

 

(10.42

)%

 

8.71

%

 

10.52

%

 

N/A

 

Class R6 (return before taxes)

 

3/25/13

 

 

(9.48

)%

 

9.88

%

 

N/A

 

 

10.97

%

Class
I (return before taxes)

 

3/28/06

 

 

(9.53

)%

 

9.81

%

 

11.46

%

 

N/A

 

S&P 500® Index1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(reflects no deduction for fees, expenses or taxes)

 

 

 

 

(18.11

)%

 

9.42

%

 

12.56

%

 

11.85

%

Lipper Equity Income Funds Category Average2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(reflects no deduction for taxes or sales
loads)

 

 

 

 

(7.36

)%

 

6.99

%

 

9.90

%

 

9.05

%

                                 
                                 

1

An index generally considered representative of the U.S. equity market. The
index includes 500 leading companies and covers approximately 80% of available market capitalization.

2

Represents the average annualized total return for all reporting funds in the
Lipper Equity Income Funds
Category.

Management

Investment
Adviser

Nuveen Fund Advisors,
LLC

Sub-Adviser

Nuveen
Asset Management, LLC

Portfolio Managers

     

Name

Title

Portfolio Manager of Fund Since

David A. Chalupnik, CFA

Senior Managing Director

June 2019

David S. Park, CFA

Managing Director

June
2019

Purchase and Sale of Fund
Shares

You may purchase, redeem or exchange shares of the Fund on any business day through a financial advisor or other
financial intermediary. The Fund’s initial and subsequent investment minimums generally are as follows, although certain financial intermediaries may impose their own investment minimums and the Fund may reduce or waive the minimums in some
cases:

       
 

Class A and Class C

Class R6

Class I

Eligibility
and Minimum Initial Investment

$3,000
for all accounts except:

 $2,500 for Traditional/
Roth IRA
accounts.

 $2,000 for Coverdell
Education Savings
Accounts.

 $250 for accounts opened through fee-based programs.

 No minimum for retirement plans.

Available
only to certain qualified retirement plans and other investors as described in the prospectus and through fee-based programs.

$1 million
for all accounts except:

 $100,000 for clients of financial intermediaries who charge such clients an ongoing fee for advisory, investment, consulting or
related services.

 No minimum for certain qualified retirement plans and certain other categories of eligible investors as described in the
prospectus.

Available
only through fee-based programs and certain retirement plans, and to other limited categories of investors as described in the
prospectus.

$100,000 for all accounts
except:

 $250 for clients of financial intermediaries and family offices that have accounts holding Class I shares with an aggregate value
of at least $100,000 (or that are expected to reach this level).

 No minimum for eligible retirement plans and certain other categories of eligible investors as described in the
prospectus.

Minimum
Additional
Investment

$100

No
minimum.

No
minimum.

5


Tax
Information

The Fund’s distributions are taxable and will generally be taxed as ordinary income or capital gains,
unless you are investing through a tax-deferred account, such as an IRA or 401(k) plan (in which case you may be taxed upon withdrawal of your investment from such
account).

Payments to Broker-Dealers and Other Financial
Intermediaries

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank or
financial advisor), the Fund, its distributor or its investment adviser may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial
intermediary and your salesperson to recommend the Fund over another investment. Ask your financial advisor or visit your financial intermediary’s website for more information.

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