N-Q 1 nq2.htm NBD Unassociated Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-22425
 
Nuveen Build America Bond Opportunity Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            3/31          
 
Date of reporting period:         6/30/14         
 
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
 

 
           
   
Portfolio of Investments (Unaudited)
     
           
   
   Nuveen Build America Bond Opportunity Fund (NBD)
     
   
June 30, 2014
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 108.9% (100.0% of Total Investments)
     
   
MUNICIPAL BONDS – 108.9% (100.0% of Total Investments)
     
   
Alabama – 0.6% (0.5% of Total Investments)
     
$ 1,000
 
Baptist Health Care Authority, Alabama, An Affiliate of UAB Health System, Taxable Bond Series
No Opt. Call
A3
$ 963,990
   
2013A, 5.500%, 11/15/43
     
   
California – 20.7% (19.0% of Total Investments)
     
1,500
 
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Build
No Opt. Call
A1
2,134,560
   
America Taxable Bond Series 2009G-2, 8.361%, 10/01/34
     
2,000
 
Los Angeles Community College District, Los Angeles County, California, General Obligation
No Opt. Call
Aa1
6,159,500
   
Bonds, Tender Option Bond Trust TN027, 30.501%, 8/01/49 (IF) (4)
     
3,000
 
Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Multiple
No Opt. Call
AA
4,037,700
   
Capital Projects I, Build America Taxable Bond Series 2010B, 7.618%, 8/01/40
     
2,650
 
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International
No Opt. Call
AA–
3,358,054
   
Airport, Build America Taxable Bonds, Series 2009C, 6.582%, 5/15/39
     
2,000
 
Los Angeles Department of Water and Power, California, Water System Revenue Bonds, Tender
No Opt. Call
AA
5,985,300
   
Option Bond Trust T0003, 30.250%, 7/01/42 (IF) (4)
     
1,000
 
Oakland Redevelopment Agency, California, Subordinated Housing Set Aside Revenue Bonds,
No Opt. Call
A
1,142,510
   
Federally Taxable Series 2011A-T, 7.500%, 9/01/19
     
2,200
 
San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds,
No Opt. Call
AAA
2,867,876
   
Build America Taxable Bonds Series 2010A, 5.911%, 4/01/48
     
675
 
San Francisco City and County Redevelopment Financing Authority, California, Taxable Tax
No Opt. Call
A
822,454
   
Allocation Revenue Bonds, San Francisco Redevelopment Projects, Series 2009F, 8.406%, 8/01/39
     
2,000
 
San Francisco City and County, California, Certificates of Participation, 525 Golden Gate
No Opt. Call
AA
4,190,100
   
Avenue, San Francisco Public Utilities Commission Office Project, Tender Option Bond Trust
     
   
B001, 29.437%, 11/01/41 (IF)
     
315
 
Stanton Redevelopment Agency, California, Consolidated Project Tax Allocation Bonds, Series
No Opt. Call
A–
352,457
   
2011A, 7.000%, 12/01/19
     
3,000
 
The Regents of the University of California, Medical Center Pooled Revenue Bonds, Build
No Opt. Call
AA–
3,882,960
   
America Taxable Bonds, Series 2010H, 6.548%, 5/15/48
     
100
 
University of California, General Revenue Bonds, Build America Taxable Bonds, Series 2009R,
No Opt. Call
AA
122,741
   
5.770%, 5/15/43
     
20,440
 
Total California
   
35,056,212
   
Colorado – 4.5% (4.1% of Total Investments)
     
4,000
 
Colorado State Bridge Enterprise Revenue Bonds, Federally Taxable Build America Series 2010A,
No Opt. Call
AA
5,075,360
   
6.078%, 12/01/40
     
2,000
 
Regional Transportation District, Colorado, Sales Tax Revenue Bonds, Fastracks Project, Build
No Opt. Call
AA+
2,576,060
   
America Series 2010B, 5.844%, 11/01/50
     
6,000
 
Total Colorado
   
7,651,420
   
Connecticut – 0.7% (0.7% of Total Investments)
     
1,000
 
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue
4/20 at 100.00
N/R
1,206,120
   
Bonds, Harbor Point Project, Federally Taxable – Issuer Subsidy – Recovery Zone Economic
     
   
Development Bond Series 2010B, 12.500%, 4/01/39
     
   
District of Columbia – 0.6% (0.5% of Total Investments)
     
800
 
District of Columbia, Income Tax Secured Revenue Bonds, Build America Taxable Bonds, Series
No Opt. Call
AAA
957,184
   
2009E, 5.591%, 12/01/34
     
   
Georgia – 3.4% (3.2% of Total Investments)
     
2,000
 
Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project J Bonds, Taxable Build
No Opt. Call
A+
2,450,800
   
America Bonds Series 2010A, 6.637%, 4/01/57
     
3,000
 
Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project P Bonds, Refunding
No Opt. Call
A–
3,361,620
   
Taxable Build America Bonds Series 2010A, 7.055%, 4/01/57
     
5,000
 
Total Georgia
   
5,812,420
   
Illinois – 14.7% (13.5% of Total Investments)
     
3,715
 
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Federally Taxable Build
No Opt. Call
AA
4,249,254
   
America Bonds, Series 2010B, 6.200%, 12/01/40
     
1,255
 
Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Third Lien,
1/20 at 100.00
A2
1,406,453
   
Build America Taxable Bond Series 2010B, 6.845%, 1/01/38
     
5,160
 
Chicago, Illinois, Wastewater Transmission Revenue Bonds, Build America Taxable Bond Series
No Opt. Call
AA
6,098,862
   
2010B, 6.900%, 1/01/40
     
4,000
 
Chicago, Illinois, Water Revenue Bonds, Taxable Second Lien Series 2010B, 6.742%, 11/01/40
No Opt. Call
AA
4,805,080
255
 
Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Refunding Series
10/14 at 100.00
Baa3
254,176
   
2006A, 6.100%, 4/01/15
     
2,000
 
Illinois State, General Obligation Bonds, Build America Taxable Bonds, Series 2010-5,
No Opt. Call
A–
2,410,560
   
7.350%, 7/01/35
     
4,010
 
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Build America Taxable Bonds,
No Opt. Call
AA–
5,009,773
   
Senior Lien Series 2009A, 6.184%, 1/01/34
     
240
 
Northern Illinois Municipal Power Agency,Power Project Revenue Bonds, Prairie State Project,
No Opt. Call
A2
286,459
   
Build America Bond Series 2009C, 6.859%, 1/01/39
     
205
 
Northern Illinois Municipal Power Agency,Power Project Revenue Bonds, Prairie State Project,
No Opt. Call
A2
266,195
   
Build America Taxable Bond Series 2010A, 7.820%, 1/01/40
     
20,840
 
Total Illinois
   
24,786,812
   
Indiana – 2.2% (2.1% of Total Investments)
     
2,980
 
Indianapolis Local Public Improvement Bond Bank, Indiana, Build America Taxable Bonds, Series
No Opt. Call
AA+
3,783,974
   
2010B-2, 6.116%, 1/15/40
     
   
Kentucky – 2.3% (2.1% of Total Investments)
     
3,000
 
Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage
No Opt. Call
AA
3,838,500
   
System Revenue Bonds, Build America Taxable Bonds Series 2010A, 6.250%, 5/15/43
     
   
Massachusetts – 2.7% (2.5% of Total Investments)
     
2,000
 
Massachusetts, Transportation Fund Revenue Bonds, Accelerated Bridge Program, Tender Option
No Opt. Call
AAA
4,560,400
   
Bond Trust T0004, 25.570%, 6/01/40 (IF) (4)
     
   
Michigan – 4.0% (3.6% of Total Investments)
     
3,000
 
Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Build America
5/20 at 100.00
Aa2
3,031,860
   
Taxable Bond Series 2010B, 6.845%, 5/01/40
     
1,960
 
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds,
No Opt. Call
B2
1,695,635
   
Taxable Turbo Series 2006A, 7.309%, 6/01/34
     
2,000
 
Wayne County Building Authority, Michigan, General Obligation Bonds, Jail Facilities,
12/20 at 100.00
BBB–
1,998,000
   
Federally Taxable Recovery Zone Economic Development Series 2010, 10.000%, 12/01/40
     
6,960
 
Total Michigan
   
6,725,495
   
Mississippi – 1.4% (1.3% of Total Investments)
     
2,085
 
Mississippi State, General Obligation Bonds, Build America Taxable Bond Series 2010F,
No Opt. Call
AA+
2,383,968
   
5.245%, 11/01/34
     
   
Missouri – 0.2% (0.2% of Total Investments)
     
250
 
Curators of the University of Missouri, System Facilities Revenue Bonds, Build America Taxable
No Opt. Call
AA+
314,328
   
Bonds, Series 2009A, 5.960%, 11/01/39
     
   
Nevada – 3.1% (2.9% of Total Investments)
     
1,950
 
Clark County, Nevada, Airport Revenue Bonds, Senior Lien Series 2009B, 6.881%, 7/01/42
7/19 at 100.00
AA–
2,151,806
1,500
 
Clark County, Nevada, Airport Revenue Bonds, Taxable Direct Payment Build America Bond Series
No Opt. Call
AA–
2,039,385
   
2010C, 6.820%, 7/01/45
     
1,000
 
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Build America Taxable
No Opt. Call
AA+
1,100,390
   
Bonds, Series 2009C, 7.013%, 6/01/39
     
4,450
 
Total Nevada
   
5,291,581
   
New Jersey – 6.9% (6.3% of Total Investments)
     
3,055
 
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Build America
No Opt. Call
A
3,552,873
   
Bonds Issuer Subsidy Program, Series 2010C, 5.754%, 12/15/28
     
4,000
 
New Jersey Turnpike Authority, Revenue Bonds, Build America Taxable Bonds, Series 2010A,
No Opt. Call
A+
5,619,920
   
7.102%, 1/01/41
     
2,000
 
Rutgers State University, New Jersey, Revenue Bonds, Build America Taxable Bond Series 2010H,
No Opt. Call
AA–
2,436,440
   
5.665%, 5/01/40
     
9,055
 
Total New Jersey
   
11,609,233
   
New York – 12.5% (11.5% of Total Investments)
     
2,000
 
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender
No Opt. Call
AAA
4,018,700
   
Option Bond Trust B004, 24.883%, 3/15/40 (IF)
     
3,270
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Federally
No Opt. Call
AA–
4,307,702
   
Taxable Issuer Subsidy Build America Bonds, Series 2010A, 6.668%, 11/15/39
     
1,500
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
No Opt. Call
AA+
1,802,790
   
Bonds, Second Generation Resolution, Build America Taxable Bonds, Fiscal 2011 Series AA,
     
   
5.440%, 6/15/43
     
2,000
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
No Opt. Call
AA+
4,780,700
   
Bonds, Second Generation Resolution, Taxable Tender Option Bonds Trust T30001-2,
     
   
26.888%, 6/15/44 (IF)
     
3,500
 
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Build
No Opt. Call
Aa2
4,517,520
   
America Taxable Bond Fiscal 2011 Series 2010S-1B, 6.828%, 7/15/40
     
1,500
 
New York City, New York, General Obligation Bonds, Federally Taxable Build America Bonds,
12/20 at 100.00
AA
1,766,805
   
Series 2010-F1, 6.646%, 12/01/31
     
13,770
 
Total New York
   
21,194,217
   
North Carolina – 1.2% (1.1% of Total Investments)
     
1,870
 
North Carolina Turnpike Authority, Triangle Expressway System State Annual Appropriation
1/19 at 100.00
AA
2,054,756
   
Revenue Bonds, Federally Taxable Issuer Subsidy Build America Bonds, Series 2009B,
     
   
6.700%, 1/01/39
     
   
Ohio – 4.2% (3.8% of Total Investments)
     
3,000
 
American Municipal Power Inc., Ohio, Meldahl Hydroelectric Projects Revenue Bonds, Federally
No Opt. Call
A
4,131,870
   
Taxable Build America Bonds, Series 2010B, 7.499%, 2/15/50
     
2,650
 
Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Build America
11/20 at 100.00
AA+
2,898,862
   
Taxable Bonds, Series 2010, 6.038%, 11/15/40
     
5,650
 
Total Ohio
   
7,030,732
   
Pennsylvania – 1.7% (1.6% of Total Investments)
     
2,500
 
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Build America Taxable Bonds, Series
No Opt. Call
A+
2,948,800
   
2010B, 5.511%, 12/01/45
     
   
South Carolina – 9.0% (8.3% of Total Investments)
     
2,395
 
South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper,
No Opt. Call
AA–
3,110,961
   
Federally Taxable Build America Series 2010C, 6.454%, 1/01/50
     
8,985
 
South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper,
No Opt. Call
AA–
11,670,976
   
Federally Taxable Build America Series 2010C, 6.454%, 1/01/50 (UB)
     
205
 
South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper,
No Opt. Call
AA–
511,414
   
Federally Taxable Build America Tender Option Bond Trust T30002, 29.590%, 1/01/50 (IF)
     
11,585
 
Total South Carolina
   
15,293,351
   
South Dakota – 0.6% (0.5% of Total Investments)
     
1,000
 
South Dakota Educational Enhancement Funding Corporation, Tobacco Settlement Revenue Bonds,
No Opt. Call
A
965,580
   
Series 2013A, 3.539%, 6/01/22
     
   
Tennessee – 3.1% (2.8% of Total Investments)
     
4,060
 
Metropolitan Government Nashville & Davidson County Convention Center Authority, Tennessee,
No Opt. Call
Aa3
5,233,990
   
Tourism Tax Revenue Bonds, Build America Taxable Bonds, Subordinate Lien Series 2010B,
     
   
6.731%, 7/01/43
     
   
Texas – 4.1% (3.8% of Total Investments)
     
2,000
 
Dallas Area Rapid Transit, Texas, Senior Lien Sales Tax Revenue Bonds, Build America Taxable
No Opt. Call
AA+
2,637,680
   
Bonds, Series 2009B, 5.999%, 12/01/44
     
2,000
 
Dallas Convention Center Hotel Development Corporation, Texas, Hotel Revenue Bonds, Build
No Opt. Call
A+
2,550,240
   
America Taxable Bonds, Series 09B, 7.088%, 1/01/42
     
1,500
 
North Texas Tollway Authority, System Revenue Bonds, Subordinate Lien Taxable Revenue Bonds,
2/20 at 100.00
Baa3
1,797,630
   
Federally Taxable Build America Bonds, Series 2010-B2, 8.910%, 2/01/30
     
5,500
 
Total Texas
   
6,985,550
   
Virginia – 3.8% (3.5% of Total Investments)
     
3,110
 
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien
No Opt. Call
BBB+
4,201,453
   
Revenue Bonds, Build America Bonds, Series 2009D, 7.462%, 10/01/46
     
2,915
 
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds,
6/17 at 100.00
B–
2,171,558
   
Refunding Senior Lien Series 2007A, 6.706%, 6/01/46
     
6,025
 
Total Virginia
   
6,373,011
   
Washington – 0.7% (0.6% of Total Investments)
     
1,000
 
Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds,
No Opt. Call
Aa3
1,193,800
   
Build America Taxable Bond Series 2010B, 6.790%, 7/01/40
     
$ 138,820
 
Total Long-Term Investments (cost $143,846,820)
   
184,215,424
   
Borrowings – (6.8)%(5), (6)
   
(11,500,000)
   
Floating Rate Obligations – (4.2)%
   
(7,190,000)
   
Other Assets Less Liabilities – 2.1% (7)
   
3,656,259
   
Net Assets – 100%
   
$ 169,181,683
 
 
 
 
 

 
 
 
 

 
                   
Investments in Derivatives as of June 30, 2014 
           
 
Interest Rate Swaps outstanding:
               
   
Fund
   
Fixed Rate
     
Unrealized
 
Notional
Pay/Receive
Floating Rate
Fixed Rate
Payment
Effective
Termination
 
Appreciation
Counterparty
Amount
Floating Rate
Index
(Annualized)
Frequency
Date (8)
Date
Value
(Depreciation) (7)
Barclays Bank PLC
$11,200,000
Receive
1-Month USD-LIBOR
2.240%
Monthly
12/17/10
12/17/15
$(325,320)
$(325,320)
Barclays Bank PLC
14,750,000
Receive
1-Month USD-LIBOR
1.450
Monthly
10/01/14
10/01/18
(2,817)
(2,817)
Barclays Bank PLC
20,000,000
Receive
3-Month USD-LIBOR
3.280
Semi-Annually
2/19/15
2/19/42
425,714
425,714
Barclays Bank PLC*
21,000,000
Receive
3-Month USD-LIBOR
3.502
Semi-Annually
6/15/15
6/15/44
(180,459)
(181,226)
Morgan Stanley
14,750,000
Receive
1-Month USD-LIBOR
1.875
Monthly
10/01/14
6/01/20
32,085
32,084
 
$81,700,000
           
$ (50,797)
$ (51,565)
*Citigroup is the clearing house for this transaction
 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
 
         
 
Level 1
Level 2
Level 3
Total
Long-Term Investments:
       
Municipal Bonds
$ —
$184,215,424
$ —
$184,215,424
Investments in Derivatives:
       
Interest Rate Swaps*
(51,565)
(51,565)
Total
$ —
$184,163,859
$ —
$184,163,859
*Represents net unrealized appreciation (depreciation).
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
As of June 30, 2014, the cost of investments (excluding investments in derivatives) was $136,889,914.
 
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of June 30, 2014, were as follows:
 
   
Gross unrealized:
 
Appreciation
$40,590,285
Depreciation
(457,764)
Net unrealized appreciation (depreciation) of investments
$40,132,521
 
 
   
(1)
All percentages shown in the Portfolio of Investments are based on net assets unless otherwise noted.
(2)
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
 
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may
 
be subject to periodic principal paydowns.
(3)
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc.
 
(“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB
 
by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these
 
national rating agencies.
(4)
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
 
investments in inverse floating rate transactions.
(5)
Borrowings as a percentage of Total Investments is 6.2%.
(6)
The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as
 
collateral for specific investments in derivatives) in the Portfolio of Investments as collateral
 
for Borrowings.
(7)
Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of derivative instruments
 
as listed within Investments in Derivatives as of the end of the reporting period.
(8)
Effective date represents the date on which both the Fund and Counterparty commence interest payment
 
accruals on each contract.
(IF)
Inverse floating rate investment.
(UB)
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
USD-LIBOR
United States Dollar-London Inter-Bank Offered Rate.
 
 
 
 

 
 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially 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 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT 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)  Nuveen Build America Bond Opportunity Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         August 29, 2014        
 
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.
 
By (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date:         August 29, 2014        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         August 29, 2014