Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-08495

Nationwide Mutual Funds

(Exact name of registrant as specified in charter)

1000 Continental Drive, Suite 400, King of Prussia, Pennsylvania 19406

(Address of principal executive offices) (Zip code)

Eric E. Miller, Esq.

1000 Continental Drive, Suite 400

King of Prussia, Pennsylvania 19406

(Name and Address of Agent for Service)

Registrant’s telephone number, including area code: (610) 230-2800

Date of fiscal year end: June 30, 2013

Date of reporting period: March 31, 2013

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under the Investment Company Act of 1940 (17 CFR § 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments.

File the schedules as of the close of the reporting period as set forth in §§ 210.12-12 - 12-14 of Regulation S-X [17 CFR §§ 210.12-12 — 12-14]. The schedules need not be audited.

Statement of Investments

March 31, 2013 (Unaudited)

Statement of Investments

March 31, 2013 (Unaudited)

Nationwide Global Equity Fund



Common Stocks 98.8%

	Shares		Market Value
AUSTRALIA 0.8%

Real Estate Investment Trusts (REITs) 0.8%
Westfield Group		58,060	$	657,824


AUSTRIA 0.6%

Real Estate Management & Development 0.6%
Immofinanz AG*		136,172		516,585


BRAZIL 0.7%

Information Technology Services 0.7%
Cielo SA		20,400		600,365


CANADA 4.9%

Airlines 1.2%
Westjet Airlines Ltd.		40,400		1,011,740


Oil, Gas & Consumable Fuels 3.7%
Canadian Oil Sands Ltd.		30,500		628,705
Gran Tierra Energy, Inc.*		96,100		560,981
PetroBakken Energy Ltd.		60,117		522,551
Petrobank Energy & Resources Ltd.*		54,400		37,486
Petrominerales Ltd.		46,500		282,886
Shamaran Petroleum Corp.*		985,000		319,978
Suncor Energy, Inc.		26,600		797,071

				3,149,658

				4,161,398


CHINA 4.0%

Commercial Banks 1.9%
China Construction Bank Corp., H Shares		1,980,450		1,623,413


Electronic Equipment, Instruments & Components 1.0%
Hollysys Automation Technologies Ltd.*		67,800		826,482


Insurance 1.1%
Ping An Insurance Group Co. of China Ltd., Class H		123,500		960,663

				3,410,558


DENMARK 0.6%

Construction & Engineering 0.6%
FLSmidth & Co. A/S		8,887		541,736


FRANCE 2.8%

Electrical Equipment 1.1%
Schneider Electric SA		12,725		930,554


Food & Staples Retailing 1.7%
Carrefour SA		52,631		1,441,733

				2,372,287


GERMANY 2.6%

Multi-Utilities 0.7%
E.ON SE		34,494		603,567


Pharmaceuticals 1.1%
Bayer AG REG		8,919		921,742


Semiconductors & Semiconductor Equipment 0.8%
Infineon Technologies AG		81,377		643,885

				2,169,194


HONG KONG 2.5%

Insurance 1.6%
AIA Group Ltd.		310,255		1,364,107


Wireless Telecommunication Services 0.9%
China Mobile Ltd.		71,000		753,054

				2,117,161


INDONESIA 1.1%

Commercial Banks 1.1%
Bank Rakyat Indonesia Persero Tbk PT		1,055,000		953,562


IRELAND 3.2%

Health Care Equipment & Supplies 1.0%
Covidien PLC		12,604		855,055


Information Technology Services 0.9%
Accenture PLC, Class A		10,500		797,685


Machinery 1.3%
Ingersoll-Rand PLC		18,800		1,034,188

				2,686,928


ITALY 1.2%

Machinery 1.2%
Fiat Industrial SpA		91,056		1,026,884


JAPAN 10.2%

Auto Components 1.5%
Bridgestone Corp.		38,900		1,308,908


Automobiles 1.8%
Toyota Motor Corp.		30,300		1,562,444


Commercial Banks 1.3%
Mitsubishi UFJ Financial Group, Inc.		186,800		1,127,009


Diversified Consumer Services 0.9%
Benesse Holdings, Inc.		17,900		761,802


Diversified Financial Services 1.2%
ORIX Corp.		78,900		1,007,393


Gas Utilities 0.6%
Tokyo Gas Co., Ltd.		99,000		535,149


Leisure Equipment & Products 0.9%
Sankyo Co., Ltd.		15,600		730,409


Machinery 0.9%
THK Co., Ltd.		36,800		731,220


Trading Companies & Distributors 1.1%
ITOCHU Corp.		74,800		919,093

				8,683,427


NETHERLANDS 4.0%

Beverages 1.5%
Heineken NV		17,249		1,301,029

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 report and unaudited semi-annual report.

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide Global Equity Fund



Common Stocks (continued)

	Shares		Market Value
NETHERLANDS (continued)

Chemicals 2.5%
Koninklijke DSM NV		16,095	$	937,902
LyondellBasell Industries NV, Class A		18,325		1,159,789

				2,097,691

				3,398,720


NORWAY 1.3%

Diversified Telecommunication Services 1.3%
Telenor ASA		51,317		1,129,902


RUSSIA 1.3%

Commercial Banks 0.8%
Sberbank of Russia		209,991		665,100


Oil, Gas & Consumable Fuels 0.5%
Gazprom OAO, ADR		53,646		458,735

				1,123,835


SOUTH AFRICA 1.1%

Media 1.1%
Naspers Ltd.		15,362		957,146


SOUTH KOREA 2.0%

Commercial Banks 0.7%
Shinhan Financial Group Co., Ltd.		16,750		602,879


Semiconductors & Semiconductor Equipment 1.3%
Samsung Electronics Co., Ltd.		827		1,127,226

				1,730,105


SPAIN 1.0%

Construction & Engineering 1.0%
Obrascon Huarte Lain SA		26,177		862,739


SWEDEN 0.7%

Oil, Gas & Consumable Fuels 0.7%
Lundin Petroleum AB*		25,636		557,069


SWITZERLAND 5.6%

Capital Markets 1.1%
Credit Suisse Group AG REG*		33,976		893,593


Food Products 1.7%
Nestle SA REG		20,733		1,500,542


Metals & Mining 1.2%
Xstrata PLC		61,758		1,005,398


Pharmaceuticals 1.6%
Novartis AG REG		19,218		1,369,705

				4,769,238


TAIWAN 1.2%

Electronic Equipment, Instruments & Components 1.2%
Hon Hai Precision Industry Co., Ltd.		358,326		997,227


THAILAND 0.9%

Commercial Banks 0.9%
Kasikornbank PCL		107,200		767,526


UNITED KINGDOM 10.4%

Beverages 1.3%
SABMiller PLC		21,482		1,133,085


Capital Markets 1.2%
Aberdeen Asset Management PLC		151,624		990,865


Commercial Banks 1.8%
HSBC Holdings PLC		149,644		1,596,640


Insurance 0.7%
Direct Line Insurance Group PLC		180,412		558,671


Metals & Mining 1.1%
Rio Tinto PLC		19,139		901,456


Oil, Gas & Consumable Fuels 1.9%
BP PLC		225,858		1,588,235


Tobacco 1.4%
Imperial Tobacco Group PLC		34,176		1,195,315


Wireless Telecommunication Services 1.0%
Vodafone Group PLC		301,539		855,672

				8,819,939


UNITED STATES 34.1%

Building Products 1.3%
Owens Corning, Inc.*		28,400		1,119,812


Commercial Banks 2.5%
PNC Financial Services Group, Inc.		13,900		924,350
Wells Fargo & Co.		33,000		1,220,670

				2,145,020


Commercial Services & Supplies 1.6%
Herman Miller, Inc.		49,300		1,364,131


Diversified Financial Services 1.4%
JPMorgan Chase & Co.		25,000		1,186,500


Food Products 1.7%
Hormel Foods Corp.		34,100		1,409,012


Health Care Equipment & Supplies 1.7%
Abbott Laboratories		19,200		678,144
St. Jude Medical, Inc.		18,800		760,272

				1,438,416


Health Care Providers & Services 2.2%
McKesson Corp.		5,800		626,168
UnitedHealth Group, Inc.		21,800		1,247,178

				1,873,346


Hotels, Restaurants & Leisure 1.1%
Royal Caribbean Cruises Ltd.		27,000		896,940


Household Products 3.0%
Colgate-Palmolive Co.		9,550		1,127,187
Procter & Gamble Co. (The)		18,400		1,417,904

				2,545,091


Information Technology Services 0.5%
VeriFone Systems, Inc.*		20,100		415,668


Insurance 2.3%
Principal Financial Group, Inc.		26,900		915,407

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide Global Equity Fund



Common Stocks (continued)

	Shares		Market Value
UNITED STATES (continued)

Insurance (continued)
Prudential Financial, Inc.		16,900	$	996,931

				1,912,338


Internet Software & Services 2.7%
Facebook, Inc., Class A*		22,391		572,762
Google, Inc., Class A*		2,200		1,746,866

				2,319,628


Life Sciences Tools & Services 1.5%
Thermo Fisher Scientific, Inc.		17,000		1,300,330


Machinery 0.8%
Timken Co.		11,800		667,644


Media 1.0%
Viacom, Inc., Class B		13,700		843,509


Multi-Utilities 0.8%
MDU Resources Group, Inc.		27,300		682,227


Oil, Gas & Consumable Fuels 2.1%
Hess Corp.		14,200		1,016,862
Occidental Petroleum Corp.		9,300		728,841

				1,745,703


Pharmaceuticals 0.9%
AbbVie, Inc.		19,200		782,976


Semiconductors & Semiconductor Equipment 0.6%
Atmel Corp.*		78,400		545,664


Software 4.4%
Microsoft Corp.		45,800		1,310,338
Oracle Corp.		35,800		1,157,772
Symantec Corp.*		47,500		1,172,300

				3,640,410

				28,834,365

Total Common Stocks (cost $73,971,647)				83,845,720


Mutual Fund 0.8%

	Shares		Market Value
Money Market Fund 0.8%
Fidelity Institutional Money Market Fund - Institutional Class, 0.14% (a)		703,480		703,480

Total Mutual Fund (cost $703,480)			$	703,480

Total Investments (cost $74,675,127) (b) — 99.6%				84,549,200
Other assets in excess of liabilities — 0.4%				331,248

NET ASSETS — 100.0%			$	84,880,448

*	Denotes a non-income producing security.

(a)	Represents 7-day effective yield as of March 31, 2013.

(b)	At March 31, 2013, the tax basis cost of the Fund’s investments was $74,887,302, tax unrealized appreciation and depreciation were $14,297,393 and $(4,635,495), respectively.


AB		Stock Company
ADR		American Depositary Receipt
AG		Stock Corporation
A/S		Minimum Capital Public Traded Company
ASA		Stock Corporation
Ltd.		Limited
NV		Public Traded Company
OAO		Joint Stock Company
PCL		Public Company Limited
PLC		Public Limited Company
REG		Registered Shares
REIT		Real Estate Investment Trust
SA		Stock Company
SE		European Public Limited Liability Company
SpA		Limited Share Company
Tbk PT		State Owned Company

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide Global Equity Fund

At March 31, 2013, the Fund’s open forward foreign currency contracts against the United States Dollar were as follows:


Currency	Counterparty	Delivery Date		Currency Delivered			Contract Value			Market Value			Unrealized Appreciation/ (Depreciation)
Short Contracts:
Brazilian Real	Credit Suisse International		5/20/13		(760,000	)	$	(381,335	)	$	(374,065	)	$	7,270
British Pound	Goldman Sachs International		5/21/13		(2,605,000	)		(4,057,521	)		(3,957,110	)		100,411
Canadian Dollar	Goldman Sachs International		5/21/13		(3,293,934	)		(3,225,000	)		(3,238,928	)		(13,928	)
Chinese Yuan	Credit Suisse International		5/20/13		(19,620,000	)		(3,112,803	)		(3,148,390	)		(35,587	)
Euro	Morgan Stanley Co., Inc.		5/21/13		(445,000	)		(582,645	)		(570,618	)		12,027
Hong Kong Dollar	Morgan Stanley Co., Inc.		5/21/13		(3,505,000	)		(452,166	)		(451,640	)		526
Indonesian Rupiah	Credit Suisse International		5/20/13		(8,177,600,000	)		(835,728	)		(836,274	)		(546	)
Japanese Yen	Credit Suisse International		5/21/13		(105,000,000	)		(1,114,210	)		(1,115,800	)		(1,590	)
Korean Won	Credit Suisse International		5/20/13		(846,000,000	)		(769,476	)		(758,310	)		11,166
Norwegian Krone	Goldman Sachs International		5/21/13		(4,440,000	)		(802,868	)		(758,700	)		44,168
South African Rand	Credit Suisse International		5/21/13		(8,370,000	)		(920,397	)		(904,162	)		16,235
Swiss Franc	Goldman Sachs International		5/21/13		(735,000	)		(798,735	)		(774,739	)		23,996
Taiwan Dollar	Credit Suisse International		5/20/13		(30,100,000	)		(1,010,067	)		(1,007,619	)		2,448
Thailand Baht	Credit Suisse International		5/21/13		(31,120,000	)		(1,036,228	)		(1,059,382	)		(23,154	)

Total Short Contracts							$	(19,099,179	)	$	(18,955,737	)	$	143,442


Currency	Counterparty	Delivery Date		Currency Received			Contract Value			Market Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Canadian Dollar	Goldman Sachs International		5/21/13		895,000		$	885,516		$	880,054		$	(5,462	)
Euro	Credit Suisse International		5/21/13		1,540,000			2,065,253			1,974,722			(90,531	)
Indian Rupee	Credit Suisse International		5/20/13		95,350,000			1,735,845			1,736,605			760
Mexican Peso	Credit Suisse International		5/21/13		10,770,000			836,641			867,807			31,166
Philippine Peso	Credit Suisse International		5/20/13		33,550,000			826,966			822,647			(4,319	)
Singapore Dollar	Goldman Sachs International		5/21/13		780,000			626,806			628,935			2,129
Swedish Krona	Goldman Sachs International		5/21/13		3,000,000			468,212			459,877			(8,335	)
Thailand Baht	Credit Suisse International		5/21/13		11,680,000			389,594			397,609			8,015

Total Long Contracts							$	7,834,833		$	7,768,256		$	(66,577	)

At March 31, 2013, the Fund’s open forward foreign currency contracts were as follows:


Counterparty	Delivery Date		Currency Received			Currency Delivered				Contract Value		Market Value		Unrealized Appreciation/ (Depreciation)
Credit Suisse First Boston		5/21/13		660,000	Euro		(805,034	)	Swiss Franc	$	848,560	$	846,310	$	(2,250	)
Credit Suisse First Boston		5/21/13		572,156	British Pound		(655,000	)	Euro		839,898		869,132		29,234

										$	1,688,458	$	1,715,442	$	26,984

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide Global Equity Fund

In accordance with the authoritative guidance on fair value measurements and disclosures under accounting principles generally accepted in the United States of America, the Fund determines the fair value of its 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 Board of Trustees has delegated authority to the Trust’s investment adviser, Nationwide Fund Advisors (“NFA”), and the Trust’s administrator, Nationwide Fund Management LLC (“NFM”), to make fair value determinations. NFA and NFM have established a Fair Valuation Committee (“FVC”) to make fair value determinations.

The FVC follows guidelines approved by the Board of Trustees to make fair value determinations. 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.

Fair value determinations 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. 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 value of such securities is determined by taking 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.

The following table provides a summary of the inputs used to value the Fund’s net assets as of March 31, 2013. Please refer to the Statement of Investments for additional information for portfolio holdings.


	Level 1		Level 2		Level 3		Total
Assets:
Common Stocks
Airlines	$	1,011,740	$	—	$	—	$	1,011,740
Auto Components		—		1,308,908		—		1,308,908
Automobiles		—		1,562,444		—		1,562,444
Beverages		—		2,434,114		—		2,434,114
Building Products		1,119,812		—		—		1,119,812
Capital Markets		—		1,884,458		—		1,884,458
Chemicals		1,159,789		937,902		—		2,097,691
Commercial Banks		2,145,020		7,336,129		—		9,481,149
Commercial Services & Supplies		1,364,131		—		—		1,364,131
Construction & Engineering		—		1,404,475		—		1,404,475
Diversified Consumer Services		—		761,802		—		761,802
Diversified Financial Services		1,186,500		1,007,393		—		2,193,893
Diversified Telecommunication Services		—		1,129,902		—		1,129,902
Electrical Equipment		—		930,554		—		930,554
Electronic Equipment, Instruments & Components		826,482		997,227		—		1,823,709
Food & Staples Retailing		—		1,441,733		—		1,441,733
Food Products		1,409,012		1,500,542		—		2,909,554
Gas Utilities		—		535,149		—		535,149
Health Care Equipment & Supplies		2,293,471		—		—		2,293,471
Health Care Providers & Services		1,873,346		—		—		1,873,346
Hotels, Restaurants & Leisure		896,940		—		—		896,940
Household Products		2,545,091		—		—		2,545,091

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide Global Equity Fund


	Level 1		Level 2			Level 3		Total
Assets: (continued)
Common Stock (continued)
Information Technology Services	$	1,813,718	$	—		$	—	$	1,813,718
Insurance		1,912,338		2,883,441			—		4,795,779
Internet Software & Services		2,319,628		—			—		2,319,628
Leisure Equipment & Products		—		730,409			—		730,409
Life Sciences Tools & Services		1,300,330		—			—		1,300,330
Machinery		1,701,832		1,758,104			—		3,459,936
Media		843,509		957,146			—		1,800,655
Metals & Mining		—		1,906,854			—		1,906,854
Multi-Utilities		682,227		603,567			—		1,285,794
Oil, Gas & Consumable Fuels		4,895,361		2,604,039			—		7,499,400
Pharmaceuticals		782,976		2,291,447			—		3,074,423
Real Estate Investment Trusts (REITs)		—		657,824			—		657,824
Real Estate Management & Development		—		516,585			—		516,585
Semiconductors & Semiconductor Equipment		545,664		1,771,111			—		2,316,775
Software		3,640,410		—			—		3,640,410
Tobacco		—		1,195,315			—		1,195,315
Trading Companies & Distributors		—		919,093			—		919,093
Wireless Telecommunication Services		—		1,608,726			—		1,608,726

Total Common Stocks	$	38,269,327	$	45,576,393		$	—	$	83,845,720

Forward Foreign Currency Contracts		—		289,551			—		289,551
Mutual Fund		703,480		—			—		703,480

Total Assets	$	38,972,807	$	45,865,944		$	—	$	84,838,751

Liabilities:
Forward Foreign Currency Contracts		—		(185,702	)		—		(185,702	)

Total Liabilities	$	—	$	(185,702	)	$	—	$	(185,702	)

Total	$	38,972,807	$	45,680,242		$	—	$	84,653,049

Amounts designated as “— ”, which may include fair valued securities, are zero or have been rounded to zero.

For the period ended March 31, 2013, there were no transfers between Level 1, Level 2 or Level 3.

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide Global Equity Fund

The following is a summary of the Fund’s derivative instruments categorized by risk exposure as of March 31, 2013. Please see below for information on the Fund’s policy regarding the objectives and strategies for using forward foreign currency contracts.

Forward Foreign Currency 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 valued at the current cost of covering these contracts, as provided by an independent pricing service approved by the Board of Trustees, and are generally categorized as Level 2 forward foreign currency contracts. 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 contract may be unable to meet their obligations under the contract.

The following is a summary of the Fund’s derivative instruments categorized by risk exposure as of March 31, 2013:

Fair Values of Derivatives not Accounted for as Hedging Instruments as of March 31, 2013


		Fair Value
Assets:
Forward Foreign Currency Contracts Currency Risk	Unrealized appreciation on forward foreign currency contracts	$	289,551

Total		$	289,551


Liabilities:
Forward Foreign Currency Contracts Currency Risk	Unrealized depreciation on forward foreign currency contracts	$	(185,702	)

Total		$	(185,702	)

Statement of Investments

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Commercial Mortgage Backed Securities 0.5%

	Principal Amount		Market Value
COBALT CMBS Commercial Mortgage Trust, Series 2007-C3, Class AJ 5.81%, 05/15/46(a)	$	250,000	$	217,186
Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class AM 5.93%, 02/15/51(a)		100,000		111,456

Total Commercial Mortgage Backed Securities (cost $296,033)				328,642


Corporate Bonds 96.2%

	Principal Amount		Market Value

Aerospace & Defense 0.3%
B/E Aerospace, Inc., 6.88%, 10/01/20		100,000		110,625
TransDigm, Inc., 7.75%, 12/15/18		100,000		109,750

				220,375


Airlines 0.3%
Continental Airlines Pass Through Certificates, Series 2012-3, Class C, 6.13%, 04/29/18		175,000		175,875


Auto Components 1.8%
American Axle & Manufacturing, Inc., 6.63%, 10/15/22		300,000		310,500
Goodyear Tire & Rubber Co. (The), 8.25%, 08/15/20		150,000		165,938
Lear Corp., 4.75%, 01/15/23(b)		150,000		146,250
Meritor, Inc., 10.63%, 03/15/18		150,000		161,812
Tenneco, Inc., 7.75%, 08/15/18		175,000		192,500
Tomkins LLC/Tomkins, Inc., 9.00%, 10/01/18		89,000		99,124
TRW Automotive, Inc., 4.50%, 03/01/21(b)		100,000		101,500

				1,177,624


Automobiles 0.7%
Chrysler Group LLC/CG Co-Issuer, Inc. 8.00%, 06/15/19		205,000		224,731
8.25%, 06/15/21		200,000		223,250

				447,981


Beverages 0.4%
Constellation Brands, Inc., 7.25%, 05/15/17		240,000		276,150


Biotechnology 0.3%
Warner Chilcott Co. LLC/Warner Chilcott Finance LLC, 7.75%, 09/15/18		200,000		213,750


Building Products 0.9%
Building Materials Corp. of America, 6.75%, 05/01/21(b)		175,000		191,187
Ply Gem Industries, Inc., 8.25%, 02/15/18		150,000		163,313
Reliance Intermediate Holdings LP, 9.50%, 12/15/19(b)		200,000		223,000

				577,500


Chemicals 3.4%
Ashland, Inc., 3.88%, 04/15/18(b)		100,000		101,250
Axiall Corp., 4.88%, 05/15/23(b)		175,000		178,063
Basell Finance Co. BV, 8.10%, 03/15/27(b)		290,000		388,600
Celanese US Holdings LLC, 5.88%, 06/15/21		370,000		403,300
Eagle Spinco, Inc., 4.63%, 02/15/21(b)		225,000		228,937
INEOS Group Holdings SA, 8.50%, 02/15/16(b)		280,000		284,200
LyondellBasell Industries NV 6.00%, 11/15/21		135,000		159,975
5.75%, 04/15/24		240,000		281,400
PetroLogistics LP/PetroLogistics Finance Corp., 6.25%, 04/01/20(b)		175,000		176,094

				2,201,819


Commercial Banks 3.3%
CIT Group, Inc. 4.25%, 08/15/17		175,000		182,875
5.50%, 02/15/19(b)		610,000		669,475
Eksportfinans ASA, 3.00%, 11/17/14		265,000		263,675
HBOS PLC, 6.75%, 05/21/18(b)		225,000		250,081
Lloyds Banking Group PLC, 6.41%, 10/01/35(b)		375,000		337,500
RBS Capital Trust II, 6.43%, 01/03/34		300,000		263,250

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Corporate Bonds (continued)

	Principal Amount		Market Value
Commercial Banks 3.3% (continued)
Zions Bancorporation, 5.50%, 11/16/15	$	140,000	$	144,656

				2,111,512


Commercial Services & Supplies 2.5%
Algeco Scotsman Global Finance PLC, 10.75%, 10/15/19(b)		250,000		258,750
Ceridian Corp., 11.25%, 11/15/15		180,000		185,850
Clean Harbors, Inc., 5.25%, 08/01/20		75,000		77,437
ExamWorks Group, Inc., 9.00%, 07/15/19		425,000		461,125
FTI Consulting, Inc., 6.75%, 10/01/20		100,000		108,250
Niska Gas Storage US LLC/Niska Gas Storage Canada ULC, 8.88%, 03/15/18		150,000		156,375
Premier Graphics, Inc., 11.50%, 12/01/05*(c)(d)		4,250,000		0
RR Donnelley & Sons Co., 7.88%, 03/15/21		100,000		104,250
ServiceMaster Co. 8.00%, 02/15/20		155,000		166,238
7.00%, 08/15/20(b)		100,000		103,500

				1,621,775


Communications Equipment 0.2%
Crown Castle International Corp., 5.25%, 01/15/23		150,000		152,625


Computers & Peripherals 0.6%
Seagate HDD Cayman 7.75%, 12/15/18		325,000		356,281
7.00%, 11/01/21		50,000		54,250

				410,531


Construction Materials 1.2%
Cemex SAB de CV, 5.88%, 03/25/19(b)		200,000		202,000
Hanson Ltd., 6.13%, 08/15/16		200,000		220,732
Vulcan Materials Co., 7.50%, 06/15/21		300,000		353,250

				775,982


Consumer Finance 4.1%
Ally Financial, Inc. 5.50%, 02/15/17		200,000		216,349
8.00%, 03/15/20		650,000		806,000
8.00%, 11/01/31		135,000		170,775
ILFC E-Capital Trust I, 4.68%, 12/21/65(a)(b)		195,000		170,625
International Lease Finance Corp. 8.75%, 03/15/17		220,000		258,775
3.88%, 04/15/18		150,000		149,625
7.13%, 09/01/18(b)		575,000		675,625
Springleaf Finance Corp., 6.90%, 12/15/17		240,000		241,200

				2,688,974


Containers & Packaging 2.4%
Ardagh Packaging Finance PLC 7.38%, 10/15/17(b)		200,000		219,000
9.13%, 10/15/20(b)		200,000		221,500
Ardagh Packaging Finance PLC/Ardagh MP Holdings USA, Inc., 4.88%, 11/15/22(b)		200,000		197,500
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 01/15/23(b)		100,000		97,000
Graphic Packaging International, Inc. 7.88%, 10/01/18		120,000		132,300
4.75%, 04/15/21		125,000		126,563
Pactiv LLC, 8.13%, 06/15/17		175,000		183,750
Sealed Air Corp. 8.38%, 09/15/21(b)		240,000		274,800
5.25%, 04/01/23(b)		75,000		75,281

				1,527,694


Distributors 0.6%
Ferrellgas LP/Ferrellgas Finance Corp., 9.13%, 10/01/17		195,000		209,138
Suburban Propane Partners LP/Suburban Energy Finance Corp. 7.50%, 10/01/18		67,000		72,695
7.38%, 08/01/21		108,000		119,070

				400,903


Diversified Financial Services 1.8%
Bank of America Corp., Series L, 5.65%, 05/01/18		200,000		231,361
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 8.00%, 01/15/18		225,000		240,750
Interactive Data Corp., 10.25%, 08/01/18		25,000		28,375
Jefferies Finance LLC/JFIN Co.-Issuer Corp., 7.38%, 04/01/20(b)		200,000		203,500
SquareTwo Financial Corp., 11.63%, 04/01/17		355,000		361,212

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Corporate Bonds (continued)

	Principal Amount		Market Value
Diversified Financial Services 1.8% (continued)
WEX, Inc., 4.75%, 02/01/23(b)	$	75,000	$	72,563

				1,137,761


Diversified Telecommunication Services 6.5%
CenturyLink, Inc., Series S, 6.45%, 06/15/21		230,000		243,800
CenturyLink, Inc., Series P, 7.60%, 09/15/39		75,000		72,750
Clearwire Communications LLC/Clearwire Finance, Inc. 12.00%, 12/01/15(b)		155,000		167,206
Embarq Corp., 8.00%, 06/01/36		75,000		78,953
Frontier Communications Corp. 8.50%, 04/15/20		275,000		311,438
9.00%, 08/15/31		230,000		237,475
Level 3 Communications, Inc., 11.88%, 02/01/19		190,000		222,775
Level 3 Financing, Inc., 10.00%, 02/01/18		485,000		535,925
Lynx II Corp., 6.38%, 04/15/23(b)		200,000		209,500
PAETEC Holding Corp., 9.88%, 12/01/18		400,000		459,000
Sable International Finance Ltd., 7.75%, 02/15/17(b)		125,000		132,813
Sprint Capital Corp. 6.90%, 05/01/19		175,000		192,062
8.75%, 03/15/32		175,000		208,688
UPCB Finance V Ltd., 7.25%, 11/15/21(b)		250,000		276,250
West Corp., 7.88%, 01/15/19		250,000		266,250
Wind Acquisition Finance SA 11.75%, 07/15/17(b)		270,000		286,200
7.25%, 02/15/18(b)		225,000		234,281
Windstream Corp., 7.75%, 10/01/21		75,000		81,750

				4,217,116


Electric Utilities 2.0%
AES Corp. 8.00%, 10/15/17		285,000		335,231
8.00%, 06/01/20		285,000		337,725
Energy Future Intermediate Holding Co. LLC/EFIH Finance, Inc. 10.00%, 12/01/20		300,000		340,125
11.75%, 03/01/22(b)		200,000		230,000
Texas Competitive Electric Holdings Co. LLC, 11.50%, 10/01/20(b)		115,000		85,963

				1,329,044


Electrical Equipment 0.4%
Coleman Cable, Inc., 9.00%, 02/15/18		115,000		124,487
Kemet Corp., 10.50%, 05/01/18		100,000		104,250

				228,737


Electronic Equipment, Instruments & Components 0.9%
Flextronics International Ltd., 5.00%, 02/15/23(b)		100,000		99,750
Jabil Circuit, Inc., 8.25%, 03/15/18		150,000		180,375
Sanmina Corp., 7.00%, 05/15/19(b)		295,000		308,275

				588,400


Energy Equipment & Services 1.7%
Cie Generale de Geophysique - Veritas, 7.75%, 05/15/17		150,000		154,500
Expro Finance Luxembourg SCA, 8.50%, 12/15/16(b)		144,000		152,640
Helix Energy Solutions Group, Inc., 9.50%, 01/15/16(b)		272,000		279,480
Key Energy Services, Inc., 6.75%, 03/01/21		275,000		286,687
SESI LLC, 7.13%, 12/15/21		190,000		212,563

				1,085,870


Food & Staples Retailing 0.6%
Ingles Markets, Inc., 8.88%, 05/15/17		205,000		214,994
Rite Aid Corp., 9.25%, 03/15/20		150,000		169,312

				384,306


Food Products 1.0%
Agrokor DD, 8.88%, 02/01/20(b)		100,000		109,750
ARAMARK Corp., 5.75%, 03/15/20(b)		75,000		76,687
Michael Foods, Inc., 9.75%, 07/15/18		220,000		244,750
Viskase Cos., Inc., 9.88%, 01/15/18(b)		200,000		212,000

				643,187

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Corporate Bonds (continued)

	Principal Amount		Market Value
Gas Utilities 1.9%
Crosstex Energy LP, 8.88%, 02/15/18	$	280,000	$	303,100
El Paso Corp., 7.75%, 01/15/32		420,000		470,046
MarkWest Energy Partners LP/MarkWest Energy Finance Corp., 6.75%, 11/01/20		100,000		109,250
Martin Midstream Partners LP/Martin Midstream Finance Corp., 4.50%, 07/15/23		175,000		171,281
Sabine Pass Liquefaction LLC, 5.63%, 02/01/21(b)		200,000		207,500

				1,261,177


Health Care Providers & Services 4.1%
Capella Healthcare, Inc., 9.25%, 07/01/17		55,000		59,537
CHS/Community Health Systems, Inc. 5.13%, 08/15/18		125,000		130,938
8.00%, 11/15/19		125,000		138,437
7.13%, 07/15/20		125,000		135,625
ConvaTec Healthcare E SA, 10.50%, 12/15/18(b)		400,000		445,000
HCA, Inc. 7.50%, 02/15/22		375,000		431,250
5.88%, 03/15/22		100,000		107,750
Hologic, Inc., 6.25%, 08/01/20		50,000		53,187
Multiplan, Inc., 9.88%, 09/01/18(b)		400,000		444,500
Omnicare, Inc., 7.75%, 06/01/20		42,000		46,515
Tenet Healthcare Corp. 8.88%, 07/01/19		175,000		196,875
8.00%, 08/01/20		160,000		176,600
6.88%, 11/15/31		75,000		68,625
United Surgical Partners International, Inc., 9.00%, 04/01/20		175,000		198,188

				2,633,027


Hotels, Restaurants & Leisure 6.3%
Caesars Entertainment Operating Co., Inc. 5.63%, 06/01/15		200,000		184,000
10.00%, 12/15/15		335,000		310,712
11.25%, 06/01/17		125,000		132,969
10.00%, 12/15/18		255,000		173,719
CityCenter Holdings LLC/CityCenter Finance Corp., 10.75%, 01/15/17		306,675		338,876
Diamond Resorts Corp., 12.00%, 08/15/18		390,000		430,950
MGM Resorts International 10.00%, 11/01/16		515,000		614,137
8.63%, 02/01/19		225,000		262,125
Royal Caribbean Cruises Ltd. 5.25%, 11/15/22		100,000		101,250
7.50%, 10/15/27		190,000		215,650
Shingle Springs Tribal Gaming Authority, 9.38%, 06/15/15(b)		490,000		488,162
Speedway Motorsports, Inc., 6.75%, 02/01/19(b)		75,000		80,063
Tunica-Biloxi Gaming Authority, 9.00%, 11/15/15(b)		250,000		220,000
Yonkers Racing Corp., 11.38%, 07/15/16(b)		500,000		536,250

				4,088,863


Household Durables 0.9%
DR Horton, Inc., 4.38%, 09/15/22		200,000		196,500
Standard Pacific Corp. 10.75%, 09/15/16		115,000		142,600
8.38%, 01/15/21		125,000		147,969
Toll Brothers Finance Corp., 8.91%, 10/15/17		80,000		98,695

				585,764


Household Products 1.8%
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC 7.88%, 08/15/19		450,000		496,125
9.88%, 08/15/19		250,000		274,063
Spectrum Brands Escrow Corp. 6.38%, 11/15/20(b)		100,000		107,375
6.63%, 11/15/22(b)		75,000		81,375
YCC Holdings LLC/Yankee Finance, Inc., 10.25%, 02/15/16(e)		225,000		232,031

				1,190,969


Industrial Conglomerates 0.5%
Bombardier, Inc., 7.75%, 03/15/20(b)		150,000		172,500
RBS Global, Inc./Rexnord LLC, 8.50%, 05/01/18		140,000		153,475

				325,975

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Corporate Bonds (continued)

	Principal Amount		Market Value
Information Technology Services 1.4%
First Data Corp. 9.88%, 09/24/15	$	160,000	$	164,800
11.25%, 03/31/16		420,000		422,100
12.63%, 01/15/21		175,000		189,656
10.63%, 06/15/21(b)		100,000		101,125

				877,681


Insurance 1.1%
American General Institutional Capital, Series A, 7.57%, 12/01/45(b)		195,000		246,675
Liberty Mutual Group, Inc., 10.75%, 06/15/88(a)(b)		110,000		169,950
XL Group PLC, Series E, 6.50%, 04/15/17		315,000		307,912

				724,537


Internet Software & Services 0.6%
Equinix, Inc. 7.00%, 07/15/21		150,000		166,500
5.38%, 04/01/23		250,000		253,125

				419,625


Leisure Equipment & Products 0.1%
Brunswick Corp., 11.25%, 11/01/16(b)		80,000		88,701


Machinery 1.8%
Case New Holland, Inc., 7.88%, 12/01/17		300,000		351,000
Huntington Ingalls Industries, Inc. 6.88%, 03/15/18		95,000		103,312
7.13%, 03/15/21		100,000		108,750
Manitowoc Co., Inc. (The), 8.50%, 11/01/20		325,000		367,250
Severstal Columbus LLC, 10.25%, 02/15/18		200,000		216,500

				1,146,812


Marine 0.8%
Marquette Transportation Co./Marquette Transportation Finance Corp., 10.88%, 01/15/17		100,000		107,000
Navios Maritime Acquisition Corp./Navios Acquisition Finance US, Inc., 8.63%, 11/01/17		225,000		223,734
Navios Maritime Holdings, Inc./Navios Maritime Finance US Inc, 8.88%, 11/01/17		160,000		163,400

				494,134


Media 8.8%
AMC Entertainment, Inc., 9.75%, 12/01/20		180,000		207,675
Cablevision Systems Corp., 8.63%, 09/15/17		390,000		454,350
CCO Holdings LLC/CCO Holdings Capital Corp., 8.13%, 04/30/20		475,000		530,812
Clear Channel Communications, Inc. 10.75%, 08/01/16		220,000		169,950
9.00%, 12/15/19(b)		150,000		144,188
CSC Holdings LLC, 8.63%, 02/15/19		125,000		150,000
DISH DBS Corp., 7.88%, 09/01/19		675,000		799,875
Entravision Communications Corp., 8.75%, 08/01/17		189,000		205,065
Intelsat Jackson Holdings SA, 7.25%, 10/15/20		475,000		521,906
Intelsat Luxembourg SA 11.25%, 02/04/17		655,000		697,575
6.75%, 06/01/18 (b)		50,000		51,500
7.75%, 06/01/21 (b)		150,000		152,625
McClatchy Co. (The), 9.00%, 12/15/22(b)		300,000		325,500
Nara Cable Funding Ltd., 8.88%, 12/01/18(b)		400,000		419,000
Nexstar Broadcasting, Inc./Mission Broadcasting Inc, 8.88%, 04/15/17		125,000		137,500
Nielsen Finance LLC/Nielsen Finance Co., 7.75%, 10/15/18		135,000		149,850
Ono Finance II PLC, 10.88%, 07/15/19(b)		150,000		155,250
Sinclair Television Group, Inc., 6.13%, 10/01/22(b)		100,000		104,750
WideOpenWest Finance LLC/WideOpenWest Capital Corp., 10.25%, 07/15/19(b)		200,000		222,500
WMG Acquisition Corp., 6.00%, 01/15/21(b)		125,000		130,938

				5,730,809


Metals & Mining 3.6%
ArcelorMittal 4.25%, 08/05/15		125,000		129,919
6.75%, 02/25/22		200,000		218,573
7.50%, 10/15/39		100,000		102,750
Arch Coal, Inc. 8.75%, 08/01/16		100,000		104,000
9.88%, 06/15/19(b)		175,000		179,375
CONSOL Energy, Inc., 8.25%, 04/01/20		75,000		83,062
FMG Resources August 2006 Pty Ltd., 8.25%, 11/01/19(b)		150,000		161,813
Inmet Mining Corp., 8.75%, 06/01/20(b)		300,000		333,000
Murray Energy Corp., 10.25%, 10/15/15(b)		560,000		562,100
Novelis, Inc., 8.38%, 12/15/17		225,000		246,375
United States Steel Corp., 7.38%, 04/01/20		200,000		209,500

				2,330,467

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Corporate Bonds (continued)

	Principal Amount		Market Value

Multi-Utilities & Unregulated Power 2.1%
Calpine Corp. 7.25%, 10/15/17(b)	$	150,000	$	159,000
7.88%, 07/31/20(b)		180,000		197,100
NRG Energy, Inc. 7.63%, 05/15/19		105,000		113,400
8.50%, 06/15/19		350,000		384,125
8.25%, 09/01/20		425,000		479,719

				1,333,344


Office Electronics 0.8%
CDW LLC/CDW Finance Corp. 12.54%, 10/12/17		297,000		318,903
8.50%, 04/01/19		175,000		195,344

				514,247


Oil, Gas & Consumable Fuels 9.4%
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., 9.63%, 10/15/18		240,000		253,200
Antero Resources Finance Corp., 6.00%, 12/01/20(b)		325,000		339,625
Atwood Oceanics, Inc., 6.50%, 02/01/20		50,000		54,375
BreitBurn Energy Partners LP/BreitBurn Finance Corp., 7.88%, 04/15/22		275,000		294,250
Chesapeake Energy Corp. 9.50%, 02/15/15		105,000		118,650
6.63%, 08/15/20		125,000		136,562
Chesapeake Oilfield Operating LLC/Chesapeake Oilfield Finance, Inc., 6.63%, 11/15/19(b)		275,000		283,250
Comstock Resources, Inc., 8.38%, 10/15/17		35,000		37,188
CVR Refining LLC/Coffeyville Finance, Inc., 6.50%, 11/01/22(b)		125,000		127,812
EP Energy LLC/EP Energy Finance, Inc., 9.38%, 05/01/20		275,000		317,625
EPE Holdings LLC/EP Energy Bond Co., Inc., 8.87%, 12/15/17(b)		100,000		105,000
Forest Oil Corp., 7.25%, 06/15/19		535,000		535,000
Hilcorp Energy I LP/Hilcorp Finance Co. 8.00%, 02/15/20(b)		85,000		93,288
7.63%, 04/15/21(b)		125,000		137,500
Linn Energy LLC/Linn Energy Finance Corp. 6.50%, 05/15/19		200,000		209,250
8.63%, 04/15/20		10,000		11,025
7.75%, 02/01/21		240,000		257,400
Midstates Petroleum Co., Inc./Midstates Petroleum Co LLC, 10.75%, 10/01/20(b)		300,000		333,000
Offshore Group Investment Ltd., 7.50%, 11/01/19(b)		450,000		477,000
PetroBakken Energy Ltd., 8.63%, 02/01/20(b)		225,000		229,500
Quicksilver Resources, Inc. 11.75%, 01/01/16		140,000		142,800
7.13%, 04/01/16		350,000		295,750
9.13%, 08/15/19		75,000		69,000
Range Resources Corp. 7.25%, 05/01/18		175,000		182,000
8.00%, 05/15/19		100,000		109,500
5.75%, 06/01/21		140,000		150,150
Samson Investment Co., 9.75%, 02/15/20(b)		150,000		159,375
SandRidge Energy, Inc. 8.75%, 01/15/20		110,000		118,525
7.50%, 02/15/23		190,000		197,125
Swift Energy Co., 7.88%, 03/01/22		75,000		78,375
Whiting Petroleum Corp., 6.50%, 10/01/18		250,000		268,750

				6,121,850


Paper & Forest Products 1.5%
Boise Paper Holdings LLC, 9.00%, 11/01/17		70,000		75,425
Clearwater Paper Corp. 7.13%, 11/01/18		125,000		135,937
4.50%, 02/01/23(b)		25,000		24,500
Domtar Corp., 10.75%, 06/01/17		85,000		109,636
Masco Corp., 7.13%, 03/15/20		150,000		175,113
Mercer International, Inc., 9.50%, 12/01/17		205,000		223,963
Smurfit Kappa Acquisitions, 4.88%, 09/15/18(b)		200,000		204,000

				948,574


Personal Products 0.2%
Revlon Consumer Products Corp., 5.75%, 02/15/21(b)		100,000		100,375


Pharmaceuticals 1.1%
Grifols, Inc., 8.25%, 02/01/18		290,000		319,000
Sky Growth Acquisition Corp., 7.38%, 10/15/20(b)		75,000		79,312
Valeant Pharmaceuticals International, 7.00%, 10/01/20(b)		295,000		317,863

				716,175


Real Estate Investment Trusts (REITs) 1.4%
DuPont Fabros Technology LP, 8.50%, 12/15/17		450,000		483,750
Felcor Lodging LP, 6.75%, 06/01/19		165,000		179,025

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Corporate Bonds (continued)

	Principal Amount		Market Value

Real Estate Investment Trusts (REITs) 1.4% (continued)
Geo Group, Inc. (The), 5.13%, 04/01/23(b)		75,000		75,750
Host Hotels & Resorts LP, 4.75%, 03/01/23		175,000		188,125

				926,650


Real Estate Management & Development 0.5%
CBRE Services, Inc., 5.00%, 03/15/23		175,000		176,969
Realogy Group LLC, 7.88%, 02/15/19(b)		150,000		164,250

				341,219


Road & Rail 0.9%
Avis Budget Car Rental LLC, 9.63%, 03/15/18		100,000		112,876
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.50%, 04/01/23(b)		100,000		99,750
CHC Helicopter SA, 9.25%, 10/15/20		125,000		132,891
Hertz Corp. (The), 5.88%, 10/15/20		100,000		105,500
United Rentals North America, Inc., 6.13%, 06/15/23		150,000		160,500

				611,517


Semiconductors & Semiconductor Equipment 0.6%
Freescale Semiconductor, Inc. 10.13%, 03/15/18(b)		110,000		121,825
9.25%, 04/15/18(b)		115,000		126,213
10.75%, 08/01/20		101,000		114,635

				362,673


Software 1.5%
Brocade Communications Systems, Inc., 6.88%, 01/15/20		50,000		54,750
Epicor Software Corp., 8.63%, 05/01/19		200,000		216,500
IMS Health, Inc., 6.00%, 11/01/20(b)		100,000		104,250
Infor US, Inc. 11.50%, 07/15/18		75,000		88,125
9.38%, 04/01/19		175,000		198,406
MedAssets, Inc., 8.00%, 11/15/18		300,000		327,750

				989,781


Specialty Retail 2.2%
Burlington Coat Factory Warehouse Corp., 10.00%, 02/15/19		275,000		305,250
Burlington Holdings LLC/Burlington Holding Finance, Inc., 9.75%, 02/15/18(b)		100,000		101,500
Coinstar, Inc., 6.00%, 03/15/19(b)		75,000		76,687
Ltd. Brands, Inc. 8.50%, 06/15/19		155,000		190,262
5.63%, 02/15/22		100,000		106,000
7.60%, 07/15/37		100,000		107,625
Party City Holdings, Inc., 8.88%, 08/01/20(b)		150,000		164,625
Petco Animal Supplies, Inc., 9.25%, 12/01/18(b)		195,000		214,988
Petco Holdings, Inc., 9.25%, 10/15/17(b)		150,000		154,688

				1,421,625


Wireless Telecommunication Services 2.4%
Cricket Communications, Inc., 7.75%, 05/15/16		175,000		182,657
MetroPCS Wireless, Inc., 6.63%, 04/01/23(b)		150,000		153,000
Sprint Nextel Corp. 6.00%, 12/01/16		335,000		363,475
9.13%, 03/01/17		150,000		177,375
8.38%, 08/15/17		390,000		453,862
9.00%, 11/15/18 (b)		135,000		166,894
11.50%, 11/15/21		45,000		63,000

				1,560,263

Total Corporate Bonds (cost $59,081,883)				62,442,325


Yankee Dollar 0.5%

	Principal Amount		Market Value

Commercial Banks 0.5%
Royal Bank of Scotland Group PLC, 6.13%, 12/15/22		325,000		336,147

Total Yankee Dollar (cost $329,435)				336,147

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund



Common Stock 0.0%

	Shares		Market Value

Hotels, Restaurants & Leisure 0.0%†
American Restaurant Group, Inc. *(d)(f)		972	$	0

Total Common Stock (cost $–)				0


Warrant 0.0%

	Number of Warrants		Market Value

Aerospace & Defense 0.0%†
Sabreliner Corp., expiring at exercise price of $0.01 on 6/8/2018*(d)(f)		8,400		0

Total Warrant (cost $–)				0


Mutual Fund 1.0%

	Shares		Market Value

Money Market Fund 1.0%
Fidelity Institutional Money Market Fund - Institutional Class, 0.14%(g)		662,360		662,360

Total Mutual Fund (cost $662,360)				662,360

Total Investments (cost $60,369,711)(h) — 98.2%				63,769,474
Other assets in excess of liabilities — 1.8%				1,175,167

NET ASSETS — 100.0%			$	64,944,641

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund

*	Denotes a non-income producing security.

(a)	Variable Rate Security. The rate reflected in the Statement of Investments is the rate in effect on March 31, 2013. The maturity date represents the actual maturity date.

(b)

Rule 144A, Section 4(2), or other security which is restricted as to sale to institutional investors. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities at March 31, 2013 was $20,332,211 which represents 31.30% of net assets.

(c)	Security in default.

(d)	Fair Valued Security.

(e)	PIK - Payment-in-kind security. Income may be paid in cash or additional notes, at the discretion of the issuer.

(f)	Illiquid Security.

(g)	Represents 7-day effective yield as of March 31, 2013.

(h)	At March 31, 2013, the tax basis cost of the Fund’s investments was $60,369,711, tax unrealized appreciation and depreciation were $3,691,354 and $(291,591), respectively.

†	Amount rounds to less than 0.1%.


ASA		Stock Corporation
BV		Private Limited Liability Company
LLC		Limited Liability Company
LP		Limited Partnership
Ltd.		Limited
NV		Public Traded Company
PLC		Public Limited Company
REIT		Real Estate Investment Trust
SA		Stock Company
SAB de CV		Public Traded Company
SCA		Limited partnership with share capital
ULC		Unlimited Liability Company

Statement of Investments (Continued)

March 31, 2013 (Unaudited)

Nationwide High Yield Bond Fund

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.


	Level 1		Level 2		Level 3		Total
Assets:
Common Stock	$	—	$	—	$	—	$	—
Commercial Mortgage Backed Securities		—		328,642		—		328,642
Corporate Bonds		—		62,442,325		—		62,442,325
Mutual Fund		662,360		—		—		662,360
Warrant		—		—		—		—
Yankee Dollar		—		336,147		—		336,147

Total	$	662,360	$	63,107,114	$	—	$	63,769,474

Amounts designated as “—”, which may include fair valued securities, are zero or have been rounded to zero.

For the period ended March 31, 2013, there were no transfers between Level 1, Level 2 or Level 3.

During the period ended March 31, 2013, the Fund held one common stock and one warrant investment that were categorized as Level 3 investments which were valued at zero.

The FVC continues to evaluate any information that could cause an adjustment to the fair value for these investments, such as market news, the progress of judicial and regulatory proceedings, and subadviser recommendations.

Item 2. Controls and Procedures.

(a)

Disclose the conclusions of the registrant’s principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR § 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR § 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Exchange Act (17 CFR § 240.13a-15(b) or § 240.15d-15(b)).

The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the registrant’s disclosure controls and procedures, as conducted within 90 days of the filing date of this report, that these disclosure controls and procedures are adequately designed and are operating effectively to ensure that information required to be disclosed by the registrant on Form N-Q is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b)

Disclose any change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR § 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely materially to affect, the registrant’s internal control over financial reporting.

There were no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s most-recent fiscal quarter that have materially affected, or are reasonably likely materially to affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR § 270.30a-2(a)).

Certifications pursuant to Rule 30a-2(a) are attached hereto.

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.


(Registrant)	NATIONWIDE MUTUAL FUNDS

By (Signature and Title)	/s/ Joseph A. Finelli
	Name:	Joseph A. Finelli
	Title:	Principal Financial Officer
	Date:	May 24, 2013

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.


(Registrant)	NATIONWIDE MUTUAL FUNDS

By (Signature and Title)	/s/ Michael S. Spangler
	Name:	Michael S. Spangler
	Title:	Principal Executive Officer
	Date:	May 24, 2013

(Registrant)	NATIONWIDE MUTUAL FUNDS

By (Signature and Title)	/s/ Joseph A. Finelli
	Name:	Joseph A. Finelli
	Title:	Principal Financial Officer
	Date:	May 24, 2013

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