N-Q 1 d90831dnq.htm NUVEEN DIVERSIFIED DIVIDEND AND INCOME FUND Nuveen Diversified Dividend and Income Fund

 

 

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 811-21407

Nuveen Diversified Dividend and Income Fund

(Exact name of registrant as specified in charter)

    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:       December 31      

Date of reporting period:  September 30, 2015  

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

 

 


JDD

 

Nuveen Diversified Dividend and Income Fund

  

Portfolio of Investments

   September 30, 2015 (Unaudited)

 

Shares          Description (1)                  Value  
   

LONG-TERM INVESTMENTS – 141.4% (93.8% of Total Investments)

       
   

COMMON STOCKS – 32.4% (21.5% of Total Investments)

       
          Air Freight & Logistics – 1.2%                  
  68,300       

Deutsche Post AG, (5)

        $ 1,892,114   
  9,500         

United Parcel Service, Inc., Class B

                937,555   
   

Total Air Freight & Logistics

                2,829,669   
          Airlines – 0.1%                  
  8,300         

Copa Holdings SA

                348,019   
          Automobiles – 0.8%                  
  11,400       

Daimler AG, Sponsored ADR, (5)

          830,376   
  79,400         

Ford Motor Company

                1,077,458   
   

Total Automobiles

                1,907,834   
          Banks – 2.9%                  
  315,000       

Barclays PLC, (5)

          1,165,748   
  34,100       

Citigroup Inc.

          1,691,701   
  95,900       

ING Groep N.V., Sponsored ADR

          1,355,067   
  27,400       

JPMorgan Chase & Co.

          1,670,578   
  25,200         

Wells Fargo & Company, (3)

                1,294,020   
   

Total Banks

                7,177,114   
          Biotechnology – 0.6%                  
  26,800         

AbbVie Inc.

                1,458,188   
          Capital Markets – 1.7%                  
  86,500       

Ares Capital Corporation

          1,252,520   
  44,900       

Bank New York Mellon

          1,757,835   
  54,900         

UBS Group AG, (5)

                1,014,998   
   

Total Capital Markets

                4,025,353   
          Chemicals – 1.1%                  
  26,500       

Agrium Inc.

          2,371,750   
  40,300         

CVR Partners LP

                376,805   
   

Total Chemicals

                2,748,555   
          Communications Equipment – 1.1%                  
  51,000       

Cisco Systems, Inc.

          1,338,750   
  137,800         

Ericsson, Sponsored ADR

                1,347,684   
   

Total Communications Equipment

                2,686,434   
          Containers & Packaging – 0.3%                  
  15,000         

Avery Dennison Corporation

                848,550   
          Diversified Financial Services – 0.9%                  
  245,480         

Deutsche Boerse AG, ADR, (5)

                2,103,764   
          Diversified Telecommunication Services – 1.4%                  
  298,750       

Bezeq Israeli Telecommunication Corporation Limited, (5)

          571,748   
  60,300       

Nippon Telegraph and Telephone Corporation, ADR

          2,129,193   
  69,200         

Telefonica Brasil SA

                640,072   
   

Total Diversified Telecommunication Services

                3,341,013   

 

Nuveen Investments     1   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Shares          Description (1)                  Value  
          Electric Utilities – 0.4%                  
  249,800         

EDP – Energias de Portugal, S.A., (5)

              $ 915,149   
          Food & Staples Retailing – 0.9%                  
  21,600         

CVS Health Corporation

                2,083,968   
          Food Products – 0.5%                  
  176,800         

Orkla ASA, Sponsored ADR

                1,290,640   
          Hotels, Restaurants & Leisure – 0.8%                  
  9,000       

Cedar Fair LP

          473,490   
  5,250       

Hyatt Hotels Corporation, Class A, (2)

          247,275   
  17,450         

Starwood Hotels & Resorts Worldwide, Inc.

                1,160,076   
   

Total Hotels, Restaurants & Leisure

                1,880,841   
          Industrial Conglomerates – 0.7%                  
  34,700       

General Electric Company

          875,134   
  35,000         

Philips Electronics

                821,100   
   

Total Industrial Conglomerates

                1,696,234   
          Insurance – 3.5%                  
  6,800       

Allianz AG ORD Shares, (5)

          1,068,231   
  15,200       

American International Group, Inc.

          863,664   
  243,500       

CGNU PLC, (5)

          1,665,433   
  106,400       

Swiss Re AG, Sponsored ADR, (5)

          2,287,600   
  82,400         

Unum Group

                2,643,390   
   

Total Insurance

                8,528,318   
          Media – 2.6%                  
  55,500       

Interpublic Group of Companies, Inc., (3)

          1,061,715   
  2,099       

Metro-Goldwyn-Mayer, (2), (5)

          160,574   
  47,925       

National CineMedia, Inc.

          643,154   
  70,300       

ProSiebenSat.1 Media AG, ADR, (5)

          856,957   
  142,100       

RTL Group SA, ADR, (5)

          1,223,737   
  21,100       

Time Warner Inc.

          1,450,625   
  3,958       

Tribune Media Company

          140,905   
  3,185       

Tribune Media Company, (4)

            
  989       

Tribune Publishing Company

          7,754   
  19,900         

Viacom Inc., Class B

                858,685   
   

Total Media

                6,404,106   
          Multiline Retail – 0.4%                  
  11,500         

Target Corporation

                904,590   
          Oil, Gas & Consumable Fuels – 1.1%                  
  8,400       

Phillips 66

          645,456   
  17,500       

Royal Dutch Shell PLC, Class A, Sponsored ADR

          829,325   
  24,700       

Suncor Energy, Inc.

          659,984   
  14,700         

Total SA, Sponsored ADR

                657,237   
   

Total Oil, Gas & Consumable Fuels

                2,792,002   
          Pharmaceuticals – 5.5%                  
  53,700       

AstraZeneca PLC, Sponsored ADR

          1,708,732   
  61,450       

GlaxoSmithKline PLC, Sponsored ADR

          2,362,753   
  21,400       

Merck & Company Inc.

          1,056,946   
  60,200       

Pfizer Inc., (3)

          1,890,882   
  53,800       

Roche Holdings AG, Sponsored ADR, (5)

          1,772,710   
  45,180       

Sanofi-Aventis, ADR

          2,144,695   
  41,700         

Teva Pharmaceutical Industries Limited, Sponsored ADR

                2,354,382   
   

Total Pharmaceuticals

                13,291,100   

 

  2      Nuveen Investments


Shares          Description (1)                  Value  
          Professional Services – 0.4%                  
  11,800         

Adecco SA, (5)

              $ 864,180   
          Semiconductors & Semiconductor Equipment – 0.4%                  
  21,500         

Microchip Technology Incorporated, (3)

                926,435   
          Software – 1.6%                  
  246,734       

Eagle Topco LP, (2), (4)

            
  34,500       

Microsoft Corporation, (3)

          1,526,970   
  65,900         

Oracle Corporation

                2,380,308   
   

Total Software

                3,907,278   
          Technology Hardware, Storage & Peripherals – 0.6%                  
  26,100       

NetApp, Inc., (3)

          772,560   
  14,900         

Seagate Technology

                667,520   
   

Total Technology Hardware, Storage & Peripherals

                1,440,080   
          Tobacco – 0.9%                  
  21,600         

Imperial Tobacco Group, Sponsored ADR, (5)

                2,235,600   
   

Total Common Stocks (cost $71,747,483)

                78,635,014   
Shares          Description (1)                  Value  
   

REAL ESTATE INVESTMENT TRUST (REIT) COMMON STOCKS – 39.4% (26.1% of Total Investments)

   
          Diversified – 1.2%                  
  90,950       

Duke Realty Corporation

        $ 1,732,598   
  33,000         

Liberty Property Trust

                1,039,830   
   

Total Diversified

                2,772,428   
          Health Care – 4.5%                  
  60,750       

Health Care Property Investors Inc.

          2,262,938   
  88,000       

Senior Housing Properties Trust

          1,425,600   
  50,700       

Ventas Inc.

          2,842,242   
  65,700         

Welltower Inc.

                4,449,204   
   

Total Health Care

                10,979,984   
          Hotels, Restaurants & Leisure – 2.0%                  
  17,950       

Chesapeake Lodging Trust

          467,777   
  128,342       

Host Hotels & Resorts Inc.

          2,029,087   
  37,450       

LaSalle Hotel Properties

          1,063,206   
  26,350       

Pebblebrook Hotel Trust

          934,108   
  17,000         

RLJ Lodging Trust

                429,590   
   

Total Hotels, Restaurants & Leisure

                4,923,768   
          Industrial – 2.4%                  
  28,400       

DCT Industrial Trust Inc.

          955,944   
  125,848         

Prologis Inc.

                4,895,487   
   

Total Industrial

                5,851,431   
          Mortgage – 0.4%                  
  32,200       

PennyMac Mortgage Investment Trust

          498,134   
  29,400         

Redwood Trust Inc.

                406,896   
   

Total Mortgage

                905,030   
          Office – 7.2%                  
  28,700       

Alexandria Real Estate Equities Inc.

          2,430,027   
  149,050       

BioMed Realty Trust Inc.

          2,978,019   
  20,550       

Boston Properties, Inc.

          2,433,120   
  37,300       

Columbia Property Trust Inc.

          865,360   
  70,700       

Douglas Emmett Inc.

          2,030,504   

 

Nuveen Investments     3   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Shares          Description (1)                      Value  
          Office (continued)                      
  105,750       

Paramount Group Inc.

        $ 1,776,600   
  56,700       

Piedmont Office Realty Trust

          1,014,363   
  15,000       

SL Green Realty Corporation

          1,622,400   
  26,150         

Vornado Realty Trust

                        2,364,483   
   

Total Office

                        17,514,876   
          Residential – 7.8%                      
  74,176       

Apartment Investment & Management Company, Class A

          2,745,994   
  24,025       

AvalonBay Communities, Inc.

          4,200,051   
  13,050       

Camden Property Trust

          964,395   
  20,950       

Equity Lifestyles Properties Inc.

          1,227,042   
  66,300       

Equity Residential

          4,980,456   
  7,750       

Essex Property Trust Inc.

          1,731,505   
  16,000       

Post Properties, Inc.

          932,640   
  61,600         

UDR Inc.

                        2,123,968   
   

Total Residential

                        18,906,051   
          Retail – 10.2%                      
  72,750       

Brixmor Property Group Inc.

          1,708,170   
  123,650       

Developers Diversified Realty Corporation

          1,901,737   
  86,410       

General Growth Properties Inc.

          2,244,068   
  73,900       

Kimco Realty Corporation

          1,805,377   
  54,350       

Kite Realty Group Trust

          1,294,074   
  47,341       

Macerich Company

          3,636,736   
  25,600       

Regency Centers Corporation

          1,591,040   
  58,400       

Retail Opportunity Investments Corporation

          965,936   
  47,135       

Simon Property Group, Inc.

          8,659,642   
  13,750         

Taubman Centers Inc.

                        949,850   
   

Total Retail

                        24,756,630   
          Specialized – 3.7%                      
  82,800       

CubeSmart

          2,252,988   
  17,050       

Extra Space Storage Inc.

          1,315,578   
  45,300       

National Storage Affiliates Trust

          613,815   
  22,974         

Public Storage, Inc.

                        4,861,987   
   

Total Specialized

                        9,044,368   
   

Total Real Estate Investment Trust (REIT) Common Stocks (cost $66,950,679)

            95,654,566   
Shares          Description (1)   Coupon          Ratings (6)     Value  
   

CONVERTIBLE PREFERRED SECURITIES – 0.5% (0.3% of Total Investments)

   
          Diversified Telecommunication Services – 0.5%                      
  10,710       

Frontier Communications Corporation

    11.125%          N/R      $ 997,637   
  13,100         

IntelSat SA

    5.750%            N/R        244,970   
   

Total Convertible Preferred Securities (cost $1,783,502)

                        1,242,607   
Shares          Description (1)   Coupon          Ratings (6)     Value  
   

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 0.4% (0.3% of Total Investments)

   
          Banks – 0.4%                      
  36,300         

Citigroup Inc.

    6.875%            BB+      $ 968,121   
   

Total $25 Par (or similar) Retail Preferred (cost $968,177)

                        968,121   

 

  4      Nuveen Investments


Principal
Amount (000)
         Description (1)  

Coupon

    Maturity     Ratings (6)     Value  
   

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 1.4% (0.9% of Total Investments)

  

   
          Banks – 1.4%                        
$ 961       

Bank of America Corporation

    6.100%        N/A (7)        BB+      $ 936,975   
  526       

Citigroup Inc.

    5.950%        N/A (7)        BB+        518,768   
  950       

JPMorgan Chase & Company

    6.000%        N/A (7)        BBB–        935,156   
  923         

Wells Fargo & Company

    5.875%        N/A (7)        BBB        944,921   
$ 3,360         

Total $1,000 Par (or similar) Institutional Preferred (cost $3,391,859)

                            3,335,820   
Principal
Amount (000)
         Description (1)   Coupon (9)     Maturity (8)     Ratings (6)     Value  
   

VARIABLE RATE SENIOR LOAN INTERESTS – 33.5% (22.3% of Total Investments) (9)

  

   
          Aerospace & Defense – 0.2%                        
$ 610         

B/E Aerospace, Inc., Term Loan B, First Lien

    4.000%        12/16/21        BB+      $ 612,712   
          Airlines – 1.2%                        
  491       

American Airlines, Inc., Term Loan B, First Lien

    3.250%        6/27/20        BB+        488,026   
  486       

Delta Air Lines, Inc., Term Loan B1

    3.250%        10/18/18        BBB        486,060   
  1,980         

US Airways, Inc., Term Loan B2, First Lien

    3.000%        11/23/16        BB+        1,976,706   
  2,957         

Total Airlines

                            2,950,792   
          Automobiles – 1.3%                        
  982       

Chrysler Group LLC, Term Loan B

    3.500%        5/24/17        BB+        980,463   
  985       

Chrysler Group LLC, Tranche B, Term Loan

    3.250%        12/31/18        BB+        977,859   
  1,114         

Formula One Group, Term Loan, First Lien

    4.750%        7/30/21        B        1,101,108   
  3,081         

Total Automobiles

                            3,059,430   
          Building Products – 0.2%                        
  543         

Gates Global LLC, Term Loan

    4.250%        7/06/21        B+        516,346   
          Capital Markets – 0.2%                        
  490         

Guggenheim Partners LLC, Initial Term Loan

    4.250%        7/22/20        N/R        490,817   
          Chemicals – 0.8%                        
  199       

Mineral Technologies, Inc., Term Loan B2

    4.750%        5/07/21        BB        200,615   
  787       

Univar, Inc., Term Loan B, First Lien

    4.250%        7/01/22        BB–        775,917   
  934         

US Coatings Acquisition, Term Loan B

    3.750%        2/01/20        BB–        929,222   
  1,920         

Total Chemicals

                            1,905,754   
          Commercial Services & Supplies – 0.5%                        
  936       

ADS Waste Holdings, Inc., Initial Term Loan, Tranche B2

    3.750%        10/09/19        B+        927,025   
  1,011         

Millennium Laboratories, Inc., Tranche B, Term Loan

    5.250%        4/16/21        CCC+        324,712   
  1,947         

Total Commercial Services & Supplies

                            1,251,737   
          Communications Equipment – 0.1%                        
  271         

Commscope, Inc., Term Loan B, First Lien

    3.750%        12/29/22        BB        270,791   
          Construction & Engineering – 0.1%                        
  296         

Aecom Technology Corporation, Term Loan B

    3.750%        10/17/21        BB+        297,609   
          Consumer Finance – 0.6%                        
  500       

First Data Corporation, Term Loan, (WI/DD)

    TBD        TBD        BB–        496,446   
  1,000         

First Data Corporation, Term Loan B

    3.946%        7/08/22        BB–        995,375   
  1,500         

Total Consumer Finance

                            1,491,821   
          Containers & Packaging – 0.8%                        
  500       

Berry Plastics Holding Corporation, Term Loan F, (WI/DD)

    TBD        TBD        BB–        499,866   
  1,527         

Reynolds Group Holdings, Inc., Incremental US Term Loan, First Lien

    4.500%        12/01/18        B+        1,529,884   
  2,027         

Total Containers & Packaging

                            2,029,750   

 

Nuveen Investments     5   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Principal
Amount (000)
         Description (1)   Coupon (9)     Maturity (8)     Ratings (6)     Value  
          Diversified Consumer Services – 0.7%                        
$ 1,138       

Hilton Hotels Corporation, Term Loan B2

    3.500%        10/25/20        BBB–      $ 1,138,633   
  454         

ServiceMaster Company, Term Loan

    4.250%        7/01/21        BB–        455,220   
  1,592         

Total Diversified Consumer Services

                            1,593,853   
          Diversified Telecommunication Services – 1.1%                        
  179       

Intelsat Jackson Holdings, S.A., Tranche B2, Term Loan

    3.750%        6/30/19        BB–        175,097   
  243       

Level 3 Financing, Inc., Term Loan B2

    3.500%        5/31/22        Ba1        242,132   
  988       

SBA Communication, Incremental Term Loan, Tranche B1

    3.250%        3/24/21        BB        978,551   
  343       

WideOpenWest Finance LLC, Term Loan B

    4.500%        4/01/19        Ba3        340,683   
  370       

Ziggo N.V., Term Loan B1

    3.500%        1/15/22        BB–        364,395   
  238       

Ziggo N.V., Term Loan B2

    3.500%        1/15/22        BB–        234,823   
  392         

Ziggo N.V., Term Loan B3, Delayed Draw

    3.500%        1/15/22        BB–        386,200   
  2,753         

Total Diversified Telecommunication Services

                            2,721,881   
          Electric Utilities – 0.4%                        
  1,000         

Energy Future Intermediate Holding Company, Term Loan, (WI/DD)

    TBD        TBD        Ba3        998,333   
          Energy Equipment & Services – 0.0%                        
  151         

Drill Rigs Holdings, Inc., Tranche B1, Term Loan

    6.000%        3/31/21        B        89,479   
          Food & Staples Retailing – 1.0%                        
  1,985       

Albertson’s LLC, Term Loan B4

    5.500%        8/25/21        BB–        1,989,640   
  500         

BJ’s Wholesale Club, Inc., Replacement Loan, Second Lien

    8.500%        3/26/20        CCC        496,875   
  2,485         

Total Food & Staples Retailing

                            2,486,515   
          Food Products – 2.0%                        
  1,000       

Jacobs Douwe Egberts, Term Loan B

    4.250%        7/02/22        BB        1,002,188   
  3,789         

US Foods, Inc., Incremental Term Loan

    4.500%        3/31/19        B2        3,791,820   
  4,789         

Total Food Products

                            4,794,008   
          Health Care Equipment & Supplies – 1.5%                        
  798       

Alere, Inc., Term Loan B

    4.250%        6/20/22        Ba3        799,661   
  895       

Convatec Healthcare Term Loan B

    4.250%        6/15/20        Ba2        895,079   
  1,444       

Kinetic Concepts, Inc., Incremental Term Loan E1

    4.500%        5/04/18        BB–        1,444,896   
  500         

Sterigenics International, Inc., Term Loan B

    4.250%        5/16/22        B1        499,375   
  3,637         

Total Health Care Equipment & Supplies

                            3,639,011   
          Health Care Providers & Services – 2.7%                        
  993       

Acadia Healthcare, Inc., Term Loan B, First Lien

    4.250%        2/11/22        Ba2        998,941   
  790       

Amsurg Corporation, Term Loan

    3.500%        7/16/21        Ba2        791,478   
  1       

Community Health Systems, Inc., Term Loan F

    3.575%        12/31/18        BB        1,141   
  436       

Community Health Systems, Inc., Term Loan G

    3.750%        12/31/19        BB        436,651   
  873       

Community Health Systems, Inc., Term Loan H

    4.000%        1/27/21        BB        874,894   
  821       

DaVita HealthCare Partners, Inc., Tranche B, Term Loan

    3.500%        6/24/21        Ba1        822,088   
  1,595       

Drumm Investors LLC, Term Loan

    6.750%        5/04/18        B        1,609,332   
  980       

HCA, Inc., Tranche B4, Term Loan

    3.077%        5/01/18        BBB–        980,678   
  74         

HCA, Inc., Tranche B5, Term Loan

    2.944%        3/31/17        BBB–        74,420   
  6,563         

Total Health Care Providers & Services

                            6,589,623   
          Hotels, Restaurants & Leisure – 1.5%                        
  1,050       

Burger King Corporation, Term Loan B

    3.750%        12/10/21        Ba3        1,049,393   
  974       

MGM Resorts International, Term Loan B

    3.500%        12/20/19        BB        967,481   
  1,823         

Seaworld Parks and Entertainment, Inc., Term Loan B2

    3.000%        5/14/20        BB        1,745,367   
  3,847         

Total Hotels, Restaurants & Leisure

                            3,762,241   
          Household Durables – 0.8%                        
  980       

Jarden Corporation, Term Loan B1

    2.944%        9/30/20        BBB–        983,369   
  886       

Serta Simmons Holdings LLC, Term Loan

    4.250%        10/01/19        B+        887,343   
  95         

Tempur-Pedic International, Inc., New Term Loan B

    3.500%        3/18/20        BB+        95,068   
  1,961         

Total Household Durables

                            1,965,780   

 

  6      Nuveen Investments


Principal
Amount (000)
         Description (1)   Coupon (9)     Maturity (8)     Ratings (6)     Value  
          Household Products – 0.2%                        
$ 423         

Spectrum Brands, Inc., Term Loan

    3.814%        6/23/22        Ba2      $ 425,094   
          Independent Power & Renewable Electricity Producers – 0.4%                        
  983         

Calpine Corporation, Delayed Term Loan

    4.000%        10/31/20        BB        981,973   
          Internet & Catalog Retail – 0.4%                        
  993         

Travelport LLC, Term Loan B, First Lien

    5.750%        9/02/21        B        991,179   
          Internet Software & Services – 0.3%                        
  829         

Tibco Software, Inc., Term Loan B

    6.500%        12/04/20        B1        827,612   
          IT Services – 0.3%                        
  739         

Vantiv, Inc., Term Loan B

    3.750%        6/13/21        BB+        741,631   
          Leisure Products – 0.8%                        
  1,502       

24 Hour Fitness Worldwide, Inc., Term Loan B

    4.750%        5/28/21        Ba3        1,419,500   
  471         

Academy, Ltd., Term Loan B

    5.000%        7/01/22        B        469,749   
  1,973         

Total Leisure Products

                            1,889,249   
          Machinery – 0.3%                        
  225       

Doosan Infracore International, Inc., Term Loan

    4.500%        5/27/21        BB–        225,800   
  490         

Rexnord LLC, Term Loan B

    4.000%        8/21/20        BB–        486,850   
  715         

Total Machinery

                            712,650   
          Media – 3.7%                        
  499       

Cequel Communications LLC, Extended Term Loan

    3.500%        12/14/22        Ba2        495,144   
  978       

Charter Communications Operating Holdings LLC, Term Loan E

    3.000%        7/01/20        Baa3        967,496   
  748       

Clear Channel Communications, Inc., Tranche D, Term Loan

    6.944%        1/30/19        CCC+        622,564   
  92       

Clear Channel Communications, Inc.,Term Loan E

    7.694%        7/30/19        CCC+        77,432   
  1,880       

Cumulus Media, Inc., Term Loan B

    4.250%        12/23/20        B+        1,640,623   
  297       

Gray Television, Inc., Initial Term Loan

    3.750%        6/13/21        BB        296,427   
  494       

Interactive Data Corporation, Term Loan B

    4.750%        5/02/21        B+        493,380   
  935       

Media General Inc., Term Loan B

    4.000%        7/31/20        BB+        929,280   
  532       

Numericable Group S.A., Term Loan B1

    4.500%        5/21/20        Ba3        529,389   
  460       

Numericable Group S.A., Term Loan B2

    4.500%        5/21/20        Ba3        457,994   
  550       

Springer Science & Business Media, Inc., Term Loan B9, First Lien

    4.750%        8/14/20        B1        551,994   
  1,524       

Univision Communications, Inc., Replacement Term Loan, First Lien

    4.000%        3/01/20        B+        1,513,012   
  191       

Yell Group PLC, Term Loan A2

    5.319%        3/01/19        CCC+        386,300   
  17       

Yell Group PLC, Term Loan A2, (4)

    1.500%        3/03/19        CCC+          
  639         

Yell Group PLC, Term Loan B2, PIK, (4)

    0.000%        3/03/24        CCC–          
  9,836         

Total Media

                            8,961,035   
          Multiline Retail – 0.6%                        
  498       

Bass Pro Group LLC, Term Loan B, First Lien

    4.000%        6/05/20        BB–        496,049   
  760       

Dollar Tree, Inc., Term Loan B1

    3.500%        7/06/22        BB+        761,659   
  240         

Dollar Tree, Inc., Term Loan B2

    4.250%        7/06/22        BB+        240,508   
  1,498         

Total Multiline Retail

                            1,498,216   
          Oil, Gas & Consumable Fuels – 0.4%                        
  500       

Energy Transfer Equity L.P.,Term Loan, First Lien

    3.250%        12/02/19        BB        484,375   
  214       

Fieldwood Energy LLC, Term Loan, Second Lien

    8.375%        9/30/20        B–        61,953   
  153       

Harvey Gulf International Marine, Inc., Term Loan B

    5.500%        6/18/20        B        100,548   
  307       

Seadrill Partners LLC, Initial Term Loan

    4.000%        2/21/21        BB–        188,595   
  61         

Southcross Holdings Borrower L.P., Holdco Term Loan

    6.000%        8/04/21        B–        46,700   
  1,235         

Total Oil, Gas & Consumable Fuels

                            882,171   
          Pharmaceuticals – 1.2%                        
  750       

Endo Health Solutions, Inc., Term Loan B

    3.750%        6/24/22        Ba1        749,004   
  645       

Grifols, Inc., Term Loan

    3.194%        2/27/21        Ba1        646,226   

 

Nuveen Investments     7   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Principal
Amount (000)
         Description (1)   Coupon (9)     Maturity (8)     Ratings (6)     Value  
          Pharmaceuticals (continued)                        
$ 234       

Quintiles Transnational Corp., Term Loan B

    3.250%        5/06/22        BB+      $ 234,820   
  1,194         

Valeant Pharmaceuticals International, Inc., Term Loan E

    3.750%        8/05/20        BB+        1,178,620   
  2,823         

Total Pharmaceuticals

                            2,808,670   
          Professional Services – 0.2%                        
  370         

Nielsen Finance LLC, Dollar Term Loan B2

    3.199%        4/15/21        BBB        371,001   
          Real Estate Investment Trust – 0.8%                        
  1,347       

Communications Sales & Leasing, Inc., Term Loan B, First Lien

    5.000%        10/24/22        BB        1,264,144   
  832         

Walter Investment Management Corporation, Tranche B, Term Loan, First Lien

    4.750%        12/18/20        B+        774,571   
  2,179         

Total Real Estate Investment Trust

                            2,038,715   
          Real Estate Management & Development – 0.3%                        
  637         

Capital Automotive LP, Term Loan, Tranche B1

    4.000%        4/10/19        Ba2        637,873   
          Semiconductors & Semiconductor Equipment – 1.3%                        
  859       

Avago Technologies, Term Loan B

    3.750%        5/06/21        BBB–        858,974   
  1,490       

Freescale Semiconductor, Inc., Term Loan, Tranche B4

    4.250%        2/28/20        B1        1,491,034   
  725         

NXP Semiconductor LLC, Term Loan D

    3.250%        1/11/20        BBB–        724,195   
  3,074         

Total Semiconductors & Semiconductor Equipment

                            3,074,203   
          Software – 2.2%                        
  374       

Activision Blizzard, Inc., Term Loan B

    3.250%        10/13/20        BBB        374,243   
  475       

BMC Software, Inc., Initial Term Loan

    5.000%        9/10/20        B1        432,765   
  795       

Ellucian, Term Loan B, First Lien, (WI/DD)

    TBD        TBD        B        794,568   
  956       

Emdeon Business Services LLC, Term Loan B2

    3.750%        11/02/18        Ba3        954,262   
  757       

Infor Global Solutions Intermediate Holdings, Ltd., Term Loan B5

    3.750%        6/03/20        B+        735,858   
  794       

SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., Term Loan B1

    4.000%        7/08/22        BB        796,554   
  126       

SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., Term Loan B2

    4.000%        7/08/22        BB        126,009   
  1,055         

Zebra Technologies Corporation, Term Loan B, First Lien

    4.750%        10/27/21        BB+        1,063,892   
  5,332         

Total Software

                            5,278,151   
          Specialty Retail – 1.3%                        
  559       

Burlington Coat Factory Warehouse Corporation, Term Loan B3

    4.250%        8/13/21        BB–        559,892   
  1,660       

Jo-Ann Stores, Inc., Term Loan, First Lien

    4.000%        3/16/18        Ba3        1,640,928   
  449       

Petsmart, Inc., Term Loan B

    4.250%        3/11/22        BB–        448,828   
  225       

Pilot Travel Centers LLC, Term Loan B, First Lien

    4.250%        10/01/21        BB+        226,048   
  400         

Staples, Inc., Term Loan B, First Lien, (WI/DD)

    TBD        TBD        BBB        399,024   
  3,293         

Total Specialty Retail

                            3,274,720   
          Technology Hardware, Storage & Peripherals – 0.4%                        
  985         

Dell, Inc., Term Loan B2

    4.000%        4/29/20        BBB        983,429   
          Trading Companies & Distributors – 0.3%                        
  622         

HD Supply, Inc., Term Loan B

    3.750%        8/13/21        BB–        620,508   
          Wireless Telecommunication Services – 0.4%                        
  1,000         

UPC Broadband Holding BV, Term Loan AH

    3.250%        6/30/21        BB–        986,161   
$ 83,959         

Total Variable Rate Senior Loan Interests (cost $83,466,414)

                            81,502,524   
Principal
Amount (000)
         Description (1)   Coupon     Maturity     Ratings (6)     Value  
   

CORPORATE BONDS – 0.2% (0.1% of Total Investments)

       
          Media – 0.1%                        
$ 132         

Clear Channel Communications, Inc.

    9.000%        12/15/19        CCC+      $ 113,520   

 

  8      Nuveen Investments


Principal
Amount (000)
         Description (1)   Coupon     Maturity     Ratings (6)     Value  
          Metals & Mining – 0.1%                        
$ 140       

Southern Copper Corporation

    7.500%        7/27/35        BBB+      $ 135,862   
  185         

Southern Copper Corporation

    6.750%        4/16/40        BBB+        164,211   
  325         

Total Metals & Mining

                            300,073   
$ 457         

Total Corporate Bonds (cost $465,707)

                            413,593   
Principal
Amount (000)
    (10)   Description (1)   Coupon     Maturity     Ratings (6)     Value  
   

EMERGING MARKET DEBT AND FOREIGN CORPORATE BONDS – 33.6% (22.3% of Total Investments)

  

   
          Argentina – 0.9%                        
$ 345       

City of Buenos Aires, Argentina, 144A

    8.950%        2/19/21        Caa2      $ 354,488   
  160       

Province of Buenos Aires, 144A

    9.950%        6/09/21        CCC–        151,242   
  100       

Province of Buenos Aires, Reg S

    10.875%        1/26/21        Caa2        97,500   
  295       

Republic of Argentina

    7.000%        4/17/17        N/R        297,213   
  624       

Republic of Argentina

    8.280%        12/31/33        N/R        534,376   
  234      EUR  

Republic of Argentina

    7.820%        12/31/33        N/R        235,523   
  681         

YPF Sociedad Anonima, 144A

    8.750%        4/04/24        Caa1        601,868   
   

Total Argentina

                            2,272,210   
          Azerbaijan – 0.2%                        
  465         

Azerbaijan State Oil Company, Reg S

    5.450%        2/09/17        BBB–        471,975   
          Brazil – 1.8%                        
  255       

Banco do Nordeste do Brasil, 144A

    3.625%        11/09/15        Baa3        253,790   
  875       

Brazil Minas SPE via State of Minas Gerais, Pass Through Notes, 144A

    5.333%        2/15/28        BB+        691,250   
  795       

Centrais Eletricas Brasileiras S.A, Reg S

    5.750%        10/27/21        BB+        596,250   
  600       

Federative Republic of Brazil

    6.000%        1/17/17        Baa3        623,400   
  256       

Federative Republic of Brazil

    8.000%        1/15/18        Baa3        268,333   
  1,090       

Federative Republic of Brazil

    8.250%        1/20/34        Baa3        1,128,150   
  265       

Petrobras International Finance Company

    5.750%        1/20/20        BBB–        197,677   
  50       

Petrobras International Finance Company

    6.875%        1/20/40        BBB–        32,500   
  1,015         

Petrobras International Finance Company

    6.750%        1/27/41        BBB–        662,288   
   

Total Brazil

                            4,453,638   
          Bulgaria – 1.1%                        
  280      EUR  

Republic of Bulgaria, Reg S

    2.000%        3/26/22        Baa2        308,179   
  1,530      EUR  

Republic of Bulgaria, Reg S

    2.950%        9/03/24        Baa2        1,721,076   
  635      EUR  

Republic of Bulgaria, Reg S

    3.125%        3/26/35        Baa2        624,403   
   

Total Bulgaria

                            2,653,658   
          Chile – 1.1%                        
  1,055       

Corporacion Nacional del Cobre de Chile, 144A

    4.500%        9/16/25        AA–        1,013,458   
  1,080       

Corporacion Nacional del Cobre de Chile, Reg S

    3.875%        11/03/21        AA–        1,073,294   
  350       

Corporacion Nacional del Cobre de Chile, Reg S

    3.000%        7/17/22        AA–        320,177   
  150       

Corporacion Nacional del Cobre de Chile, Reg S

    6.150%        10/24/36        AA–        153,621   
  225         

Empresa Nacional del Petroleo, Reg S

    6.250%        7/08/19        A        245,914   
   

Total Chile

                            2,806,464   
          Colombia – 1.3%                        
  708,000      COP  

Republic of Colombia

    12.000%        10/22/15        BBB        229,837   
  587       

Republic of Colombia

    11.750%        2/25/20        BBB        776,308   
  420,000      COP  

Republic of Colombia

    7.750%        4/14/21        BBB        137,379   
  175,000      COP  

Republic of Colombia

    9.850%        6/28/27        BBB        64,439   
  535       

Republic of Colombia

    10.375%        1/28/33        BBB        757,560   
  680       

Republic of Colombia

    7.375%        9/18/37        BBB        763,300   
  286,560      COP  

Titulos de Tesoreria B Bonds

    3.500%        3/10/21        BBB+        93,977   
  220,517      COP  

Titulos de Tesoreria B Bonds

    4.750%        2/23/23        BBB+        76,462   
  556,200      COP  

Titulos de Tesoreria B Bonds

    6.000%        4/28/28        BBB+        145,684   
   

Total Colombia

                            3,044,946   

 

Nuveen Investments     9   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Principal
Amount (000)
    (10)   Description (1)   Coupon     Maturity     Ratings (6)     Value  
          Cote d’Ivoire (Ivory Coast) – 0.7%                        
$ 950       

Ivory Coast Republic, 144A

    5.375%        7/23/24        B1      $ 827,602   
  255       

Ivory Coast Republic, 144A

    6.375%        3/03/28        B1        226,226   
  565       

Ivory Coast Republic, Reg S

    5.375%        7/23/24        B1        492,205   
  190         

Ivory Coast Republic, Reg S

    5.750%        12/31/32        B        164,496   
   

Total Cote d’Ivoire (Ivory Coast)

                            1,710,529   
          Croatia – 0.3%                        
  280       

Republic of Croatia, 144A

    6.250%        4/27/17        Ba1        293,531   
  290       

Republic of Croatia, Reg S

    5.375%        11/29/19        Ba1        315,230   
  200         

Republic of Croatia, Reg S

    6.250%        4/27/17        Ba1        209,665   
   

Total Croatia

                            818,426   
          Dominican Republic – 1.5%                        
  335       

Dominican Republic, 144A

    6.600%        1/28/24        BB–        346,725   
  685       

Dominican Republic, 144A

    5.500%        1/27/25        BB–        661,025   
  500       

Dominican Republic, 144A

    7.450%        4/30/44        BB–        511,250   
  101       

Dominican Republic, Reg S

    9.040%        1/23/18        BB–        106,661   
  1,455       

Dominican Republic, Reg S

    7.500%        5/06/21        BB–        1,556,850   
  275       

Dominican Republic, Reg S

    6.600%        1/28/24        BB–        284,625   
  165       

Dominican Republic, Reg S

    5.875%        4/18/24        BB–        162,525   
  100         

Dominican Republic, Reg S

    7.450%        4/30/44        BB–        102,250   
   

Total Dominican Republic

                            3,731,911   
          Ecuador – 0.1%                        
  140         

Republic of Ecuador, Reg S

    9.375%        12/15/15        CCC+        136,500   
          El Salvador – 0.4%                        
  75       

Republic of El Salvador, 144A

    6.375%        1/18/27        Ba3        65,813   
  616       

Republic of El Salvador, Reg S

    7.750%        1/24/23        Ba3        611,380   
  75       

Republic of El Salvador, Reg S

    7.625%        9/21/34        Ba3        71,719   
  120       

Republic of El Salvador, Reg S

    7.650%        6/15/35        Ba3        106,950   
  30         

Republic of El Salvador, Reg S

    8.250%        4/10/32        Ba3        29,400   
   

Total El Salvador

                            885,262   
          Hungary – 1.4%                        
  542       

Republic of Hungary, Government Bond

    4.125%        2/19/18        BB+        563,003   
  506       

Republic of Hungary, Government Bond

    4.000%        3/25/19        BB+        524,975   
  644       

Republic of Hungary, Government Bond

    5.375%        2/21/23        BB+        700,195   
  230       

Republic of Hungary, Government Bond

    5.750%        11/22/23        BB+        255,875   
  658       

Republic of Hungary, Government Bond

    5.375%        3/25/24        BB+        713,930   
  336       

Republic of Hungary, Government Bond

    7.625%        3/29/41        BB+        446,040   
  90      EUR  

Republic of Hungary, Government Bond, Reg S

    5.750%        6/11/18        BB+        112,724   
   

Total Hungary

                            3,316,742   
          Iceland – 0.5%                        
  231       

Republic of Iceland, 144A

    5.875%        5/11/22        BBB+        263,073   
  189       

Republic of Iceland, Reg S

    4.875%        6/16/16        BBB+        193,114   
  700         

Republic of Iceland, Reg S

    5.875%        5/11/22        BBB+        797,192   
   

Total Iceland

                            1,253,379   
          India – 0.1%                        
  280         

Bharti Airtel Limited, 144A

    4.375%        6/10/25        BBB–        279,234   
          Indonesia – 2.4%                        
  200       

Pertamina Persero PT, Reg S

    5.250%        5/23/21        Baa3        197,755   
  450       

Perusahaan Listrik Negaraa PT, Reg S

    5.500%        11/22/21        Baa3        453,375   
  200      EUR  

Republic of Indonesia

    3.375%        7/30/25        N/R        205,877   
  350       

Republic of Indonesia, Reg S

    4.875%        5/05/21        Baa3        361,365   

 

  10      Nuveen Investments


Principal
Amount (000)
    (10)   Description (1)   Coupon     Maturity     Ratings (6)     Value  
          Indonesia (continued)                        
  1,540      EUR  

Republic of Indonesia, Reg S

    2.875%        7/08/21        Baa3      $ 1,647,662   
  415       

Republic of Indonesia, Reg S

    5.375%        10/17/23        Baa3        428,994   
  1,230       

Republic of Indonesia, Reg S

    8.500%        10/12/35        Baa3        1,543,497   
  500       

Republic of Indonesia, Reg S

    6.625%        2/17/37        Baa3        525,803   
  425         

Republic of Indonesia, Reg S

    7.750%        1/17/38        Baa3        498,771   
   

Total Indonesia

                            5,863,099   
          Ireland – 0.1%                        
  200         

RZD Capital Limited, Russian Railways, Reg S

    5.700%        4/05/22        BBB–        189,750   
          Israel – 0.1%                        
  350         

Israel Electric Corporation Limited, 144A, Reg S

    5.000%        11/12/24        BBB–        357,126   
          Jamaica – 0.3%                        
  200       

Jamaica Government

    7.625%        7/09/25        B        218,000   
  385       

Jamaica Government

    6.750%        4/28/28        B        386,925   
  200         

Jamaica Government

    7.875%        7/28/45        B        200,000   
   

Total Jamaica

                            804,925   
          Kazakhstan – 1.4%                        
  220       

KazAgro National Management Holding JSC, 144A

    4.625%        5/24/23        BBB        175,780   
  200       

Kazakhstan Development Bank, Reg S

    5.500%        12/20/15        BBB        201,000   
  330       

Kazakhstan Development Bank, Reg S

    6.500%        6/03/20        BBB        338,441   
  225       

Kazakhstan Temir Zholy JSC, Reg S

    6.375%        10/06/20        BBB        211,838   
  210       

Kazakhstan Temir Zholy JSC, Reg S

    6.950%        7/10/42        BBB        164,052   
  375       

Kazakhstan Temir Zholy JSC, Reg S

    7.000%        5/13/16        BBB        378,745   
  220       

Kazmunaygas National, 144A

    6.000%        11/07/44        BBB        161,150   
  560       

Republic of Kazakhstan, 144A

    5.125%        7/21/25        BBB+        539,112   
  376       

Republic of Kazakhstan, 144A

    6.500%        7/21/45        BBB+        353,120   
  841         

Republic of Kazakhstan, Reg S

    6.500%        7/21/45        BBB+        789,825   
   

Total Kazakhstan

                            3,313,063   
          Kenya – 0.2%                        
  265       

Republic of Kenya, 144A

    6.875%        6/24/24        B+        240,090   
  265         

Republic of Kenya, Reg S

    5.875%        6/24/19        B+        253,647   
   

Total Kenya

                            493,737   
          Latvia – 0.8%                        
  715       

Latvia Republic, 144A

    3.625%        1/12/20        A–        726,619   
  1,270         

Latvia Republic, Reg S

    2.750%        1/12/20        A–        1,290,635   
   

Total Latvia

                            2,017,254   
          Lithuania – 1.6%                        
  175       

Republic of Lithuania, 144A

    7.375%        2/11/20        A–        210,000   
  145       

Republic of Lithuania, 144A

    6.125%        3/09/21        A–        169,165   
  670       

Republic of Lithuania, 144A

    6.625%        2/01/22        A–        809,360   
  955       

Republic of Lithuania, Reg S

    7.375%        2/11/20        A–        1,146,000   
  1,345         

Republic of Lithuania, Reg S

    6.125%        3/09/21        A–        1,569,145   
   

Total Lithuania

                            3,903,670   
          Luxembourg – 0.4%                        
  815         

Gaz Capital SA, Reg S

    9.250%        4/23/19        BBB–        899,556   
          Malaysia – 0.3%                        
  765         

Penerbangan Malaysia Berhad, Reg S

    5.625%        3/15/16        A–        778,448   
          Mexico – 2.2%                        
  325       

Comision Federal de Electricidad of the United States of Mexico, 144A

    6.125%        6/16/45        BBB+        305,500   

 

Nuveen Investments     11   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Principal
Amount (000)
    (10)   Description (1)   Coupon     Maturity     Ratings (6)     Value  
          Mexico (continued)                        
$ 220       

Grupo Bimbo SAB de CV, Reg S

    4.500%        1/25/22        Baa2      $ 227,370   
  460       

Grupo Bimbo SAB de CV, Reg S

    3.875%        6/27/24        BBB        445,492   
  210       

Grupo Bimbo SAB de CV, Reg S

    4.875%        6/27/44        BBB        184,447   
  1,523      MXN  

Mexican Udibonds Bonds

    4.500%        12/04/25        A        101,841   
  995      MXN  

Mexican Udibonds Bonds

    4.500%        11/22/35        A        66,853   
  200       

Mexichem SAB de CV, Reg S

    5.875%        9/17/44        BBB        169,000   
  9,111      MXN  

Mexico Bonos de DeSarrollo

    10.000%        12/05/24        A        686,513   
  390       

Pemex Project Funding Master Trust

    6.625%        6/15/35        A3        365,625   
  135       

Petroleos Mexicanos

    6.500%        6/02/41        A3        124,173   
  139       

Petroleos Mexicanos

    5.500%        6/27/44        A3        111,548   
  420       

Petroleos Mexicanos

    6.375%        1/23/45        A3        377,328   
  115       

Petroleos Mexicanos, 144A

    5.500%        6/27/44        A3        92,288   
  1,890       

Petroleos Mexicanos, Reg S

    5.500%        6/27/44        A3        1,516,723   
  180      EUR  

United Mexican States

    4.000%        10/15/30        A3        165,682   
  330         

United Mexican States

    5.750%        10/12/10        A3        308,550   
   

Total Mexico

                            5,248,933   
          Morocco – 0.8%                        
  215       

Kingdom of Morocco, 144A

    4.250%        12/11/22        BBB–        217,150   
  235       

Kingdom of Morocco, 144A

    5.500%        12/11/42        BBB–        232,768   
  235      EUR  

Kingdom of Morocco, Reg S

    4.500%        10/05/20        BBB–        284,331   
  225       

Kingdom of Morocco, Reg S

    4.250%        12/11/22        BBB–        227,250   
  270      EUR  

Kingdom of Morocco, Reg S

    3.500%        6/19/24        BBB–        303,206   
  345       

Kingdom of Morocco, Reg S

    5.500%        12/11/42        BBB–        341,723   
  440         

Office Cherifien Des Phosphates SA, Reg S

    6.875%        4/25/44        BBB–        440,440   
   

Total Morocco

                            2,046,868   
          Nigeria – 0.2%                        
  240       

Nigerian Government International Bond, 144A

    5.125%        7/12/18        BB–        230,400   
  200         

Nigerian Republic Treasury Bond, Reg S

    5.125%        7/12/18        BB–        192,000   
   

Total Nigeria

                            422,400   
          Pakistan – 0.3%                        
  275       

Islamic Republic of Pakistan, 144A

    7.250%        4/15/19        B        282,130   
  250       

Islamic Republic of Pakistan, 144A

    8.250%        4/15/24        B        261,352   
  226         

Islamic Republic of Pakistan, 144A

    8.250%        9/30/25        B        230,486   
   

Total Pakistan

                            773,968   
          Panama – 0.7%                        
  310       

Republic of Panama

    3.750%        3/16/25        BBB        299,925   
  25       

Republic of Panama

    8.875%        9/30/27        BBB        34,375   
  920         

Republic of Panama

    9.375%        4/01/29        BBB        1,323,648   
   

Total Panama

                            1,657,948   
          Paraguay – 0.1%                        
  240         

Republic of Paraguay, Reg S

    4.625%        1/25/23        Ba1        235,800   
          Peru – 1.8%                        
  215       

BBVA Banco Continental SA, 144A

    3.250%        4/08/18        A–        216,881   
  165       

El Fondo Mivivienda SA, 144A

    3.500%        1/31/23        BBB+        152,625   
  645       

Republic of Peru

    7.125%        3/30/19        A3        744,975   
  241       

Republic of Peru

    7.350%        7/21/25        A3        300,648   
  1,945       

Republic of Peru

    4.125%        8/25/27        A3        1,906,100   
  1,195      PEN  

Republic of Peru

    6.950%        8/12/31        A3        340,715   
  400       

Republic of Peru

    8.750%        11/21/33        A3        564,000   
  249      PEN  

Republic of Peru Treasury Bond

    7.840%        8/12/20        A–        81,165   
   

Total Peru

                            4,307,109   

 

  12      Nuveen Investments


Principal
Amount (000)
    (10)   Description (1)   Coupon     Maturity     Ratings (6)     Value  
          Romania – 1.2%                        
$ 390       

Republic of Romania, 144A

    6.750%        2/07/22        BBB–      $ 460,200   
  70      EUR  

Republic of Romania, Reg S

    4.875%        11/07/19        BBB–        89,869   
  240      EUR  

Republic of Romania, Reg S

    4.625%        9/18/20        BBB–        308,697   
  1,586       

Republic of Romania, Reg S

    6.750%        2/07/22        BBB–        1,871,477   
  225      EUR  

Republic of Romania, Reg S

    3.625%        4/24/24        BBB–        270,334   
   

Total Romania

                            3,000,577   
          Russia – 1.2%                        
  455       

Gazprom Neft OAO Via GPN Capital SA, Reg S

    6.000%        11/27/23        BBB–        419,829   
  100       

Gazprom OAO Via Gaz Capital SA, Reg S

    7.288%        8/16/37        BBB–        95,625   
  575       

Rosneft International Finance, Reg S

    4.199%        3/06/22        BB+        487,773   
  800       

Russian Federation, Reg S

    5.000%        4/29/20        BBB–        827,000   
  200      EUR  

Russian Federation, Reg S

    3.625%        9/16/20        BBB–        224,318   
  200       

Russian Federation, Reg S

    4.875%        9/16/23        BBB–        201,668   
  430         

Russian Federation, Reg S

    12.750%        6/24/28        BBB–        675,186   
   

Total Russia

                            2,931,399   
          Senegal – 0.1%                        
  200         

Republic of Senegal, Reg S

    8.750%        5/13/21        B+        208,600   
          Serbia – 0.2%                        
  505         

Republic of Serbia, Reg S

    5.250%        11/21/17        BB–        522,044   
          Slovenia – 1.0%                        
  475       

Republic of Slovenia, 144A

    5.850%        5/10/23        A–        542,726   
  385       

Republic of Slovenia, 144A

    5.250%        2/18/24        A–        423,500   
  420       

Republic of Slovenia, Reg S

    4.750%        5/10/18        A–        446,775   
  710       

Republic of Slovenia, Reg S

    5.500%        10/26/22        A–        797,333   
  200         

Republic of Slovenia, Reg S

    5.850%        5/10/23        A–        228,516   
   

Total Slovenia

                            2,438,850   
          South Africa – 0.2%                        
  470         

Eskom Holdings Limited, Reg S

    6.750%        8/06/23        BB+        439,450   
          Sri Lanka – 0.5%                        
  720       

Republic of Sri Lanka, 144A

    6.000%        1/14/19        BB–        727,198   
  175       

Republic of Sri Lanka, Reg S

    6.250%        10/04/20        BB–        176,746   
  310         

Republic of Sri Lanka, Reg S

    6.250%        7/27/21        BB–        309,183   
   

Total Sri Lanka

                            1,213,127   
          Tunisia – 0.2%                        
  425         

Banque de Tunisie, Reg S

    5.750%        1/30/25        Ba3        404,813   
          Turkey – 2.3%                        
  775       

Republic of Turkey, Government Bond

    7.000%        9/26/16        Baa3        809,875   
  321       

Republic of Turkey, Government Bond

    7.500%        7/14/17        Baa3        346,279   
  185       

Republic of Turkey, Government Bond

    6.750%        4/03/18        Baa3        199,652   
  705       

Republic of Turkey, Government Bond

    5.625%        3/30/21        Baa3        735,844   
  710       

Republic of Turkey, Government Bond

    6.250%        9/26/22        Baa3        758,813   
  1,360       

Republic of Turkey, Government Bond

    5.750%        3/22/24        Baa3        1,409,638   
  605       

Republic of Turkey, Government Bond

    7.375%        2/05/25        Baa3        691,969   
  655         

Republic of Turkey, Government Bond

    4.875%        4/16/43        Baa3        545,288   
   

Total Turkey

                            5,497,358   
          Ukraine – 0.4%                        
  355       

Republic of Ukraine, 144A

    6.250%        6/17/16        Ca        277,930   
  785         

Republic of Ukraine, Reg S

    6.580%        11/21/16        Ca        616,932   
   

Total Ukraine

                            894,862   

 

Nuveen Investments     13   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Principal
Amount (000)
    (10)   Description (1)   Coupon     Maturity     Ratings (6)     Value  
          Uruguay – 0.6%                        
$ 1,723         

Republic of Uruguay

    5.100%        6/18/50        BBB      $ 1,511,933   
          Venezuela – 0.5%                        
  50       

Petroleos de Venezuela S.A, Reg S

    5.250%        4/12/17        CCC        22,470   
  1,895       

Petroleos de Venezuela S.A, Reg S

    6.000%        11/15/26        CCC        606,305   
  170       

Republic of Venezuela, Reg S

    9.000%        5/07/23        CCC        58,225   
  420       

Republic of Venezuela, Reg S

    8.250%        10/13/24        CCC        140,700   
  565       

Republic of Venezuela, Reg S

    7.650%        4/21/25        CCC        186,450   
  555       

Republic of Venezuela, Reg S

    9.250%        5/07/28        CCC        187,313   
  30         

Republic of Venezuela, Reg S

    7.000%        3/31/38        CCC        9,675   
   

Total Venezuela

                            1,211,138   
          Vietnam – 0.1%                        
  255         

Socialist Republic of Vietnam, Reg S

    4.800%        11/19/24        BB–        241,024   
   

Total Emerging Market Debt and Foreign Corporate Bonds (cost $85,221,131)

  

            81,663,703   
   

Total Long-Term Investments (cost $313,994,952)

                            343,415,948   
Principal
Amount (000)
         Description (1)   Coupon     Maturity            Value  
   

SHORT-TERM INVESTMENTS – 9.3% (6.2% of Total Investments)

       
          REPURCHASE AGREEMENTS – 9.3%                        
$ 11,037       

Repurchase Agreement with Fixed Income Clearing Corporation,
dated 9/30/15, repurchase price $11,037,489,
collateralized by $11,095,000 U.S. Treasury Notes,
1.625%, due 6/30/20, value $11,261,425

    0.000%        10/01/15        $ 11,037,489   
  11,555         

Repurchase Agreement with Fixed Income Clearing Corporation,
dated 9/30/15, repurchase price $11,554,557,
collateralized by $11,275,000 U.S. Treasury Notes,
2.500%, due 8/15/23, value $11,796,468

    0.000%        10/01/15                11,554,557   
$ 22,592         

Total Short-Term Investments (cost $22,592,046)

                            22,592,046   
   

Total Investments (cost $336,586,998) – 150.7%

                            366,007,994   
   

Borrowings – (48.0)% (11), (12)

                            (116,500,000
   

Other Assets Less Liabilities – (2.7)% (13)

                            (6,631,834
   

Net Assets Applicable to Common Shares – 100%

                          $ 242,876,160   

Investments in Derivatives as of September 30, 2015

Options Written outstanding:

 

Number of
Contracts
       Description      Notional
Amount (14)
       Expiration
Date
       Strike
Price
       Value  
  (230     

Interpublic Group of Companies Inc.

     $ (506,000        10/16/15         $ 22.0         $ (2,875
  (215     

Microchip Technology Incorporated

       (946,000        10/16/15           44.0           (13,975
  (2     

National CineMedia Inc.

       (3,500        12/18/15           17.5           (20
  (261     

NetApp Inc.

       (861,300        12/18/15           33.0           (16,052
  (708     

Total Options Written (premiums received $48,398)

     $ (2,316,800                            $ (32,922

 

  14      Nuveen Investments


Forward Foreign Currency Exchange Contracts outstanding:

 

Counterparty    Currency Contracts to Deliver    Notional
Amount
(Local Currency)
     In Exchange For Currency      Notional
Amount
(Local Currency)
     Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 

Bank of America

  

Chilean Peso

     153,200,000         U.S. Dollar         217,781         12/16/15       $ (800

Bank of America

  

Chilean Peso

     76,600,000         U.S. Dollar         107,426         12/16/15         (1,864

Bank of America

  

Chilean Peso

     76,600,000         U.S. Dollar         107,178         12/16/15         (2,112

Bank of America

  

U.S. Dollar

     254,147         South Africa Rand         3,567,000         12/17/15         (157

BNP Paribas

  

Colombian Peso

     291,197,000         U.S. Dollar         92,856         12/16/15         (627

BNP Paribas

  

South Africa Rand

     5,690,000         U.S. Dollar         400,789         12/17/15         (4,371

BNP Paribas

  

U.S. Dollar

     440,451         Chilean Peso         306,400,000         12/16/15         (3,290

BNP Paribas

  

U.S. Dollar

     28,063         Euro         25,000         12/16/15         (93

Citibank N.A.

  

U.S. Dollar

     472,076         South Africa Rand         6,703,000         12/17/15         5,215   

Credit Suisse

  

U.S. Dollar

     3,088         South Africa Rand         44,000         12/17/15         46   

Goldman Sachs

  

South Africa Rand

     5,000,000         U.S. Dollar         358,706         12/17/15         2,678   

Goldman Sachs

  

U.S. Dollar

     26,778         South Africa Rand         376,000         12/17/15         (4

HSBC Bank

  

Euro

     1,527,000         U.S. Dollar         1,715,951         12/16/15         7,510   

HSBC Bank

  

U.S. Dollar

     8,949         Colombian Peso         27,900,000         12/16/15         7   

JPMorgan

  

Euro

     1,527,000         U.S. Dollar         1,715,928         12/16/15         7,487   

JPMorgan

  

U.S. Dollar

     128,391         Euro         115,000         12/16/15         274   

JPMorgan

  

U.S. Dollar

     437,958         Indian Rupee         29,860,000         12/16/15         11,885   

Morgan Stanley

  

Brazilian Real

     1,283,000         U.S. Dollar         322,938         10/02/15         (684

Morgan Stanley

  

Brazilian Real

     1,280,000         U.S. Dollar         338,132         12/02/15         22,188   

Morgan Stanley

  

Brazilian Real

     1,061,000         U.S. Dollar         289,558         12/02/15         27,670   

Morgan Stanley

  

Colombian Peso

     629,972,000         U.S. Dollar         204,603         12/16/15         2,363   

Morgan Stanley

  

Indian Rupee

     29,860,000         U.S. Dollar         443,487         12/16/15         (6,356

Morgan Stanley

  

U.S. Dollar

     247,942         Brazilian Real         964,000         10/02/15         (4,784

Morgan Stanley

  

U.S. Dollar

     83,056         Brazilian Real         319,000         10/02/15         (2,591

Morgan Stanley

  

U.S. Dollar

     136,424         Brazilian Real         535,000         12/02/15         (4,369

Morgan Stanley

  

U.S. Dollar

     29,399         Brazilian Real         112,000         12/02/15         (1,754

Morgan Stanley

  

U.S. Dollar

     27,606         Brazilian Real         108,000         12/02/15         (948

Morgan Stanley

  

U.S. Dollar

     27,410         Brazilian Real         107,000         12/02/15         (999

Morgan Stanley

  

U.S. Dollar

     26,739         Brazilian Real         107,000         12/02/15         (328

National Australia Bank

  

Euro

     1,526,000         U.S. Dollar         1,714,203         12/16/15         6,881   

Royal Bank of Canada

  

Mexican Peso

     7,223,000         U.S. Dollar         425,782         12/16/15         1,040   

Standard Chartered Bank

  

Colombian Peso

     750,880,000         U.S. Dollar         236,572         12/16/15         (4,483

Standard Chartered Bank

  

Euro

     1,525,000         U.S. Dollar         1,704,218         12/16/15         (1,985

Standard Chartered Bank

  

Peruvian Nuevo Sol

     518,000         U.S. Dollar         155,276         12/16/15         (1,456

Standard Chartered Bank

  

Peruvian Nuevo Sol

     255,000         U.S. Dollar         76,006         12/16/15         (1,149

State Street Bank and Trust

  

Brazilian Real

     1,283,000         U.S. Dollar         329,397         10/02/15         5,775   

State Street Bank and Trust

  

Colombian Peso

     730,768,000         U.S. Dollar         232,322         12/16/15         (2,277

State Street Bank and Trust

  

U.S. Dollar

     345,114         Brazilian Real         1,372,000         12/02/15         (6,461

State Street Bank and Trust

  

U.S. Dollar

     135,285         Euro         120,000         12/16/15         (1,027
                                              $ 46,050   

Futures Contracts outstanding:

 

Description

     Contract
Position
     Number of
Contracts
       Contract
Expiration
       Notional
Value
       Variation Margin
Receivable/
(Payable)
       Unrealized
Appreciation
(Depreciation)
 

Eurex Euro-Bobl

     Short        (16        12/15         $ (2,306,670      $ (308      $ (7,759

Eurex Euro-Bund

     Short        (12        12/15           (2,094,320        (11        (38,897

Eurex Euro-Buxl

     Short        (6        12/15           (1,044,143        2,097           (31,047

U.S. Long Bond

     Short        (1        12/15           (157,344        562           (2,806
                                    $ (5,602,477      $ 2,340         $ (80,509

 

Nuveen Investments     15   


JDD    Nuveen Diversified Dividend and Income Fund
   Portfolio of Investments (continued)    September 30, 2015 (Unaudited)

 

Interest Rate Swaps outstanding:

 

Counterparty    Notional
Amount
     Fund
Pay/Receive
Floating Rate
     Floating Rate Index      Fixed Rate
(Annualized)
     Fixed Rate
Payment
Frequency
     Effective
Date (15)
     Termination
Date
     Unrealized
Appreciation
(Depreciation)
 

JPMorgan

   $ 30,450,000         Receive         1-Month USD-LIBOR-ICE         1.462      Monthly         12/01/15         12/01/20       $ (703,830

JPMorgan

     30,450,000         Receive         1-Month USD-LIBOR-ICE         1.842         Monthly         12/01/15         12/01/22         (1,068,499
     $ 60,900,000                                                             $ (1,772,329

Fair Value Measurements

Fair value is defined as the price that would be received 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:

           

Common Stocks

   $ 58,006,095       $ 20,628,919       $     —    $ 78,635,014   

Real Estate Investment Trust (REIT) Common Stocks

     95,654,566                         95,654,566   

Convertible Preferred Securities

     1,242,607                         1,242,607   

$25 Par (or similar) Retail Preferred

     968,121                         968,121   

$1,000 Par (or similar) Institutional Preferred

             3,335,820                 3,335,820   

Variable Rate Senior Loan Interests

             81,502,524              81,502,524   

Corporate Bonds

             413,593                 413,593   

Emerging Market Debt and Foreign Corporate Bonds

             81,663,703                 81,663,703   

Short-Term Investments:

           

Repurchase Agreements

             22,592,046                 22,592,046   

Investments in Derivatives:

           

Options Written

     (32,922                      (32,922

Forward Foreign Currency Exchange Contracts**

             46,050                 46,050   

Futures Contracts**

     (80,509                      (80,509

Interest Rate Swaps**

             (1,772,329              (1,772,329

Total

   $ 155,757,958       $ 208,410,326       $    $ 364,168,284   
* Value equals zero as of the end of the reporting period.
** 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 recognition of premium amortization and timing differences in recognizing certain gains and losses on investment transactions. 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.

 

  16      Nuveen Investments


As of September 30, 2015, the cost of investments (excluding investments in derivatives) was $341,246,207.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of September 30, 2015, were as follows:

 

Gross unrealized:

          

Appreciation

     $ 44,943,468   

Depreciation

       (20,181,681

Net unrealized appreciation (depreciation) of investments

     $ 24,761,787   

For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease.

 

(1) All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.

 

(2) Non-income producing; issuer has not declared a dividend within the past twelve months.

 

(3) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.

 

(4) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value disclosure purposes, investment classified as Level 3.

 

(5) For fair value measurement disclosure purposes, investment classified as Level 2.

 

(6) 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.

 

(7) Perpetual security. Maturity date is not applicable.

 

(8) Senior loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments of senior loans may occur. As a result, the actual remaining maturity of senior loans held may be substantially less than the stated maturities shown.

 

(9) Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. The rate shown is the coupon as of the end of the reporting period.

 

(10) Principal Amount (000) denominated in U.S. Dollars, unless otherwise noted.

 

(11) Borrowings as a percentage of Total Investments is 31.8%.

 

(12) 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.

 

(13) Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter derivatives as well as the exchange-cleared and exchange-traded derivatives, when applicable. Other assets less liabilities also includes the value of options.

 

(14) For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100.

 

(15) Effective date represents the date on which both the Fund and Counterparty commence interest payment accruals on each contract.

 

(WI/DD) Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

 

N/A Not applicable.

 

144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

 

ADR American Depositary Receipt.

 

Reg S Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of securities by both foreign and domestic issuers that are made outside the United States.

 

TBD Senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date.

 

COP Colombian Peso

 

EUR Euro

 

MXN Mexican Peso

 

PEN Peruvian Nuevo Sol

 

USD LIBOR-ICE United States Dollar – London Inter-Bank Offered Rate Intercontinental Exchange

 

Nuveen Investments     17   


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: 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 Diversified Dividend and Income Fund

  
By (Signature and Title)    /s/ Kevin J. McCarthy                                                               
   Kevin J. McCarthy   
   Vice President and Secretary   

Date: November 27, 2015

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: November 27, 2015      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: November 27, 2015