N-Q 1 d32194dnq.htm NUVEEN FLOATING RATE INCOME FUND Nuveen Floating Rate 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 811-21494

Nuveen Floating Rate 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:       July 31      

Date of reporting period:  October 31, 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

 

 


JFR

 

Nuveen Floating Rate Income Fund

  

Portfolio of Investments

   October 31, 2015 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Coupon (4)      Maturity (2)      Ratings (3)      Value  
 

LONG-TERM INVESTMENTS – 149.7% (91.9% of Total Investments)

  

  
 

VARIABLE RATE SENIOR LOAN INTERESTS – 125.0% (76.8% of Total Investments) (4)

  

  
      Aerospace & Defense – 1.9% (1.1% of Total Investments)         
$ 4,269     

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

    4.000%         12/16/21         BB+       $ 4,299,411   
  5,518     

Sequa Corporation, Term Loan B

    5.250%         6/19/17         CCC+         4,607,352   
  2,986     

Transdigm, Inc., Term Loan E, First Lien

    3.500%         5/16/22         Ba3         2,934,716   
  12,773     

Total Aerospace & Defense

                               11,841,479   
      Air Freight & Logistics – 0.5% (0.3% of Total Investments)         
  3,000     

XPO Logistics, Inc., Term Loan B, (WI/DD)

    TBD         TBD         Ba1         2,977,500   
      Airlines – 3.6% (2.2% of Total Investments)         
  3,431     

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

    3.250%         6/29/20         BB+         3,412,024   
  2,970     

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

    3.500%         10/10/21         BB+         2,964,060   
  9,720     

Delta Air Lines, Inc., Term Loan B1

    3.250%         10/18/18         BBB         9,726,188   
  1,945     

Delta Air Lines, Inc., Term Loan B2

    2.446%         4/18/16         BBB         1,945,202   
  4,410     

US Airways, Inc., Term Loan B1

    3.500%         5/23/19         BB+         4,396,677   
  22,476     

Total Airlines

                               22,444,151   
      Automobiles – 3.1% (1.9% of Total Investments)         
  9,850     

Chrysler Group LLC, Tranche B, Term Loan

    3.250%         12/31/18         BB+         9,826,606   
  7,795     

Formula One Group, Term Loan, First Lien

    4.750%         7/30/21         B         7,679,497   
  2,000     

Formula One Group, Term Loan, Second Lien

    7.750%         7/29/22         CCC+         1,905,000   
  19,645     

Total Automobiles

                               19,411,103   
      Building Products – 0.7% (0.5% of Total Investments)         
  2,772     

Gates Global LLC, Term Loan

    4.250%         7/06/21         B+         2,614,919   
  2,115     

Quikrete Holdings, Inc., Term Loan, First Lien

    4.000%         9/28/20         BB–         2,112,499   
  4,887     

Total Building Products

                               4,727,418   
      Capital Markets – 0.9% (0.6% of Total Investments)         
  2,801     

Citco III Limited, Term Loan B

    4.250%         6/29/18         N/R         2,809,029   
  2,940     

Guggenheim Partners LLC, Initial Term Loan

    4.250%         7/22/20         N/R         2,943,675   
  5,741     

Total Capital Markets

                               5,752,704   
      Chemicals – 1.8% (1.1% of Total Investments)         
  595     

Ineos US Finance LLC, Term Loan B, First Lien

    4.250%         3/31/22         BB–         588,752   
  2,741     

Ineos US Finance LLC, Cash Dollar, Term Loan

    3.750%         5/04/18         BB–         2,716,294   
  2,319     

Mineral Technologies, Inc., Term Loan B2

    4.750%         5/07/21         BB         2,327,495   
  2,431     

PQ Corporation, Term Loan B

    4.000%         8/07/17         B+         2,427,832   
  3,507     

Univar, Inc., Term Loan B, First Lien

    4.250%         7/01/22         BB–         3,456,872   
  11,593     

Total Chemicals

                               11,517,245   
      Commercial Services & Supplies – 3.5% (2.1% of Total Investments)         
  1,501     

Acosta, Inc., Term Loan B

    4.250%         9/26/21         B1         1,464,318   
  934     

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

    3.750%         10/09/19         B+         923,918   
  4,445     

CCS Income Trust, Term Loan, First Lien

    6.250%         5/12/18         B–         3,475,061   
  825     

Education Management LLC, Tranche A, Term Loan

    5.500%         7/02/20         N/R         241,101   
  1,443     

Education Management LLC, Tranche B, Term Loan

    8.500%         7/02/20         N/R         194,829   
  4,579     

iQor US, Inc., Term Loan, First Lien

    6.000%         4/01/21         B         3,709,087   
  500     

iQor US, Inc., Term Loan, Second Lien

    9.750%         4/01/22         CCC+         388,750   
  11,351     

Millennium Laboratories, Inc., Tranche B, Term Loan, (5)

    5.250%         4/16/21         D         4,171,669   
  3,875     

Protection One, Inc., Term Loan, First Lien

    5.000%         7/01/21         B1         3,859,015   
  107     

Universal Services of America, Delayed Draw, Term Loan, Second Lien

    9.500%         7/28/23         CCC+         104,152   

 

Nuveen Investments     1   


JFR    Nuveen Floating Rate Income Fund   
   Portfolio of Investments (continued)    October 31, 2015 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Coupon (4)      Maturity (2)      Ratings (3)      Value  
      Commercial Services & Supplies (continued)         
$ 1,643     

Universal Services of America, Term Loan, Second Lien

    9.500%         7/28/23         CCC+       $ 1,596,994   
  132     

Universal Services of America, Delayed Draw, Term Loan, First Lien

    4.750%         7/28/22         B         128,882   
  1,868     

Universal Services of America, Term Loan, First Lien

    4.750%         7/28/22         B         1,827,784   
  33,203     

Total Commercial Services & Supplies

                               22,085,560   
      Communications Equipment – 1.7% (1.0% of Total Investments)         
  6,724     

Avaya, Inc., Term Loan B3, (DD1)

    4.823%         10/26/17         B1         5,547,078   
  1,060     

Avaya, Inc., Term Loan B6

    6.500%         3/31/18         B1         879,598   
  1,896     

Commscope, Inc., Term Loan B, First Lien

    3.750%         12/29/22         BB         1,896,426   
  2,320     

Riverbed Technology, Inc., Term Loan B, First Lien

    6.000%         4/25/22         B1         2,325,804   
  12,000     

Total Communications Equipment

                               10,648,906   
      Consumer Finance – 1.9% (1.2% of Total Investments)         
  2,500     

First Data Corporation, Term Loan B

    3.947%         7/08/22         BB         2,509,375   
  9,750     

First Data Corporation, Term Loan

    3.697%         3/23/18         BB         9,694,142   
  12,250     

Total Consumer Finance

                               12,203,517   
      Containers & Packaging – 1.4% (0.9% of Total Investments)         
  2,000     

Berry Plastics Holding Corporation, Term Loan F

    4.000%         10/03/22         BB–         2,006,112   
  4,320     

BWAY Holding Company, Term Loan B, First Lien

    5.500%         8/14/20         B2         4,333,044   
  2,827     

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

    4.500%         12/01/18         B+         2,834,274   
  9,147     

Total Containers & Packaging

                               9,173,430   
      Diversified Consumer Services – 6.2% (3.8% of Total Investments)         
  1,750     

AlixPartners LLP, Term Loan B, First Lien

    4.500%         7/28/22         B+         1,750,219   
  7,953     

Cengage Learning Acquisitions, Inc., Exit Term Loan

    7.000%         3/31/20         B+         7,917,938   
  438     

Harland Clarke Holdings Corporation, Extended Term Loan

    5.577%         6/30/17         BB–         436,266   
  3,282     

Harland Clarke Holdings Corporation, Term Loan B3

    7.000%         5/22/18         BB–         3,275,149   
  1,434     

Harland Clarke Holdings Corporation, Term Loan B4

    6.000%         8/04/19         BB–         1,430,331   
  9,694     

Hilton Hotels Corporation, Term Loan B2

    3.500%         10/25/20         BBB–         9,724,484   
  2,993     

Houghton Mifflin, Term Loan B, First Lien

    4.000%         5/28/21         BB         2,970,056   
  218     

Laureate Education, Inc., Term Loan B

    5.000%         6/15/18         B         188,201   
  3,503     

New Albertson’s, Inc., Term Loan

    4.750%         6/25/21         Ba3         3,490,378   
  7,791     

ServiceMaster Company, Term Loan

    4.250%         7/01/21         BB–         7,802,921   
  39,056     

Total Diversified Consumer Services

                               38,985,943   
      Diversified Financial Services – 0.7% (0.4% of Total Investments)         
  1,496     

MJ Acquisition Corp., Term Loan, First Lien

    4.001%         6/01/22         BB–         1,497,484   
  1,985     

Transdigm, Inc., Term Loan, Second Lien

    4.750%         11/12/21         N/R         1,985,012   
  1,000     

TransFirst, Inc., Term Loan, Second Lien

    9.000%         11/11/22         CCC+         1,003,125   
  4,481     

Total Diversified Financial Services

                               4,485,621   
      Diversified Telecommunication Services – 4.9% (3.0% of Total Investments)         
  1,712     

Greeneden U.S. Holdings II LLC, Term Loan B

    4.000%         2/08/20         B         1,703,526   
  395     

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

    3.750%         6/30/19         BB–         383,917   
  2,435     

Level 3 Financing, Inc., Term Loan B2

    3.500%         5/31/22         Ba1         2,435,653   
  3,667     

Level 3 Financing, Inc., Term Loan, Tranche B3

    4.000%         8/01/19         Ba1         3,680,417   
  10,827     

WideOpenWest Finance LLC, Term Loan B

    4.500%         4/01/19         Ba3         10,690,237   
  4,437     

Ziggo N.V., Term Loan B1

    3.500%         1/15/22         BB–         4,371,923   
  2,860     

Ziggo N.V., Term Loan B2

    3.500%         1/15/22         BB–         2,817,350   
  4,703     

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

    3.500%         1/15/22         BB–         4,633,535   
  31,036     

Total Diversified Telecommunication Services

                               30,716,558   
      Electronic Equipment, Instruments & Components – 1.1% (0.7% of Total Investments)         
  4,116     

SMART Modular Technologies, Inc., Term Loan B

    8.250%         8/31/17         B         3,889,822   
  3,103     

TTM Technologies, Term Loan B

    6.000%         5/31/21         B+         2,901,617   
  7,219     

Total Electronic Equipment, Instruments & Components

                               6,791,439   

 

  2      Nuveen Investments


Principal
Amount (000)
    Description (1)   Coupon (4)      Maturity (2)      Ratings (3)      Value  
      Energy Equipment & Services – 0.7% (0.4% of Total Investments)         
$ 647     

Dynamic Energy Services International LLC, Term Loan

    9.500%         3/06/18         B3       $ 598,396   
  5,227     

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

    6.000%         3/31/21         B         3,044,731   
  1,999     

Offshore Group Investment Limited, Term Loan B, (5)

    5.000%         10/25/17         D         579,837   
  7,873     

Total Energy Equipment & Services

                               4,222,964   
      Food & Staples Retailing – 7.4% (4.6% of Total Investments)         
  4,924     

Albertson’s LLC, Term Loan B2

    5.375%         3/21/19         BB–         4,924,992   
  27,795     

Albertson’s LLC, Term Loan B4

    5.500%         8/25/21         BB–         27,831,450   
  3,229     

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

    4.500%         9/26/19         B–         3,200,139   
  4,000     

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

    8.500%         3/26/20         CCC         3,908,000   
  737     

Del Monte Foods Company, Term Loan, First Lien

    4.254%         2/18/21         B2         721,677   
  1,500     

Rite Aid Corporation, Tranche 1, Term Loan, Second Lien

    5.750%         8/21/20         BB         1,515,000   
  1,675     

Rite Aid Corporation, Tranche 2, Term Loan, Second Lien

    4.875%         6/21/21         BB         1,681,020   
  3,114     

Supervalu, Inc., New Term Loan

    4.500%         3/21/19         BB         3,113,829   
  46,974     

Total Food & Staples Retailing

                               46,896,107   
      Food Products – 5.5% (3.4% of Total Investments)         
  1,975     

Hearthside Group Holdings, Term Loan, First Lien

    4.500%         6/02/21         B1         1,971,840   
  6,808     

Jacobs Douwe Egberts, Term Loan B

    4.250%         7/02/22         N/R         6,792,623   
  4,778     

Pinnacle Foods Finance LLC, Term Loan G

    3.000%         4/29/20         BB+         4,780,468   
  16,792     

US Foods, Inc., Incremental Term Loan

    4.500%         3/31/19         B2         16,816,563   
  4,770     

Wilton Products, Inc., Tranche B, Term Loan

    8.500%         8/30/18         N/R         4,644,788   
  35,123     

Total Food Products

                               35,006,282   
      Health Care Equipment & Supplies – 3.6% (2.2% of Total Investments)         
  583     

Ardent Medical Services, Inc., Term Loan B, First Lien

    6.500%         8/04/21         B1         583,415   
  1,980     

CareCore National LLC, Term Loan

    5.500%         3/05/21         B         1,781,910   
  5,019     

Onex Carestream Finance LP, Term Loan, First Lien

    5.000%         6/07/19         B+         4,792,907   
  2,553     

Onex Carestream Finance LP, Term Loan, Second Lien

    9.500%         12/09/19         B–         2,380,848   
  2,426     

ConvaTec Healthcare, Term Loan B

    4.250%         6/15/20         Ba2         2,425,020   
  2,000     

Greatbatch, Inc., Term Loan B

    5.250%         10/14/22         B+         2,008,750   
  6,755     

Kinetic Concepts, Inc., Incremental Term Loan E1

    4.500%         5/04/18         BB–         6,763,138   
  2,000     

Sterigenics International, Inc., Term Loan B

    4.250%         5/16/22         B1         1,990,000   
  23,316     

Total Health Care Equipment & Supplies

                               22,725,988   
      Health Care Providers & Services – 5.4% (3.3% of Total Investments)         
  1,985     

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

    4.250%         2/11/22         Ba2         1,994,677   
  1,734     

Community Health Systems, Inc., Term Loan G

    3.750%         12/31/19         BB         1,729,077   
  3,470     

Community Health Systems, Inc., Term Loan H

    4.000%         1/27/21         BB         3,465,142   
  3,616     

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

    3.500%         6/24/21         Ba1         3,623,754   
  8,531     

Drumm Investors LLC, Term Loan

    6.750%         5/04/18         B         8,576,743   
  1,444     

Genesis Healthcare LLC, Term Loan

    10.000%         12/04/17         B–         1,477,443   
  1,298     

HCA, Inc., Tranche B5, Term Loan

    2.938%         3/31/17         BBB–         1,299,744   
  2,481     

Healogics, Inc., Term Loan, First Lien

    5.250%         7/01/21         B         2,140,038   
  3,662     

Heartland Dental Care, Inc., Term Loan, First Lien

    5.500%         12/21/18         B1         3,639,515   
  2,000     

Heartland Dental Care, Inc., Term Loan, Second Lien

    9.750%         6/21/19         CCC         2,002,500   
  1,601     

LHP Operations Co. LLC, Term Loan B

    9.000%         7/03/18         B2         1,545,053   
  2,376     

National Mentor Holdings, Inc., Term Loan B

    4.250%         1/31/21         B+         2,340,811   
  34,198     

Total Health Care Providers & Services

                               33,834,497   
      Health Care Technology – 0.8% (0.5% of Total Investments)         
  5,128     

Catalent Pharma Solutions, Inc., Term Loan

    4.250%         5/20/21         BB         5,128,701   
      Hotels, Restaurants & Leisure – 6.3% (3.8% of Total Investments)         
  7,836     

Burger King Corporation, Term Loan B

    3.750%         12/10/21         Ba3         7,849,085   
  3,012     

CCM Merger, Inc., Term Loan B

    4.500%         8/08/21         BB–         3,011,793   
  5,228     

CityCenter Holdings LLC, Term Loan

    4.250%         10/16/20         BB–         5,236,444   
  586     

Extended Stay America, Inc., Term Loan

    5.000%         6/24/19         BB+         594,402   
  2,765     

Intrawest Resorts Holdings, Inc., Term Loan B, First Lien

    4.750%         12/09/20         CCC         2,764,824   
  2,244     

Life Time Fitness, Inc., Term Loan B

    4.250%         6/10/22         BB–         2,234,906   

 

Nuveen Investments     3   


JFR    Nuveen Floating Rate Income Fund   
   Portfolio of Investments (continued)    October 31, 2015 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Coupon (4)      Maturity (2)      Ratings (3)      Value  
      Hotels, Restaurants & Leisure (continued)         
$ 2,918     

MGM Resorts International, Term Loan B

    3.500%         12/20/19         BB+       $ 2,916,027   
  3,930     

Scientific Games Corporation, Term Loan

    6.000%         10/18/20         BB–         3,850,174   
  4,470     

Scientific Games Corporation, Term Loan B2

    6.000%         10/01/21         BB–         4,377,091   
  3,273     

Seaworld Parks and Entertainment, Inc., Term Loan B2

    3.000%         5/14/20         BB         3,085,255   
  3,625     

Station Casino LLC, Term Loan B

    4.250%         3/02/20         B+         3,629,579   
  39,887     

Total Hotels, Restaurants & Leisure

                               39,549,580   
      Household Durables – 0.4% (0.3% of Total Investments)         
  2,435     

Serta Simmons Holdings LLC, Term Loan

    4.250%         10/01/19         BB–         2,439,213   
  248     

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

    3.500%         3/18/20         BB+         248,469   
  2,683     

Total Household Durables

                               2,687,682   
      Industrial Conglomerates – 0.3% (0.2% of Total Investments)         
  2,285     

Brand Energy & Infrastructure Services, Inc., Initial Term Loan

    4.750%         11/26/20         B1         2,125,996   
      Insurance – 2.1% (1.3% of Total Investments)         
  5,326     

Alliant Holdings I LLC, Initial Term Loan B, First Lien

    4.500%         8/12/22         B         5,277,981   
  2,500     

AssuredPartners Capital, Inc., Term Loan, First Lien

    5.750%         10/16/22         B1         2,507,812   
  5,885     

Hub International Holdings, Inc., Initial Term Loan

    4.000%         10/02/20         B1         5,756,620   
  13,711     

Total Insurance

                               13,542,413   
      Internet & Catalog Retail – 1.3% (0.8% of Total Investments)         
  8,439     

Travelport LLC, Term Loan B, First Lien

    5.750%         9/02/21         B         8,393,025   
      Internet Software & Services – 2.0% (1.2% of Total Investments)         
  1,000     

Ancestry.com, Inc., Term Loan B

    5.000%         8/29/22         Ba3         1,001,667   
  735     

Sabre Inc., Term Loan B2

    4.000%         2/19/19         Ba3         735,772   
  3,404     

Sabre Inc., Term Loan

    4.000%         2/19/19         Ba3         3,407,579   
  290     

Sabre Inc., Term Loan C

    3.500%         2/19/18         Ba3         289,711   
  7,877     

Tibco Software, Inc., Term Loan B

    6.500%         12/04/20         B1         7,483,229   
  13,306     

Total Internet Software & Services

                               12,917,958   
      IT Services – 0.9% (0.5% of Total Investments)         
  3,785     

EIG Investors Corp., Term Loan

    5.000%         11/09/19         B         3,786,901   
  569     

VFH Parent LLC, New Term Loan

    5.250%         11/08/19         N/R         570,334   
  1,221     

Zayo Group LLC, Term Loan B

    3.750%         5/06/21         BB–         1,220,518   
  5,575     

Total IT Services

                               5,577,753   
      Leisure Products – 2.1% (1.3% of Total Investments)         
  3,755     

24 Hour Fitness Worldwide, Inc., Term Loan B

    4.750%         5/28/21         Ba3         3,360,985   
  4,022     

Academy, Ltd., Term Loan B

    5.000%         7/01/22         B         4,016,026   
  1,594     

Bombardier Recreational Products, Inc., Term Loan B

    3.750%         1/30/19         BB–         1,594,593   
  3,169     

Equinox Holdings, Inc., New Initial Term Loan, First Lien

    5.000%         1/31/20         B1         3,177,742   
  1,000     

Four Seasons Holdings, Inc., Term Loan, Second Lien

    6.250%         12/27/20         B–         1,000,000   
  13,540     

Total Leisure Products

                               13,149,346   
      Machinery – 0.3% (0.2% of Total Investments)         
  1,828     

Rexnord LLC, Term Loan B

    4.000%         8/21/20         BB–         1,809,431   
      Media – 14.1% (8.7% of Total Investments)         
  2,121     

Advantage Sales & Marketing, Inc., Term Loan, First Lien

    4.250%         7/25/21         B1         2,073,096   
  2,200     

Advantage Sales & Marketing, Inc., Term Loan, Second Lien

    7.500%         7/25/22         CCC+         2,052,875   
  1,743     

Affinion Group Holdings, Inc., Initial Term Loan, Second Lien

    8.500%         10/31/18         Caa1         1,599,125   
  1,000     

Affinion Group Holdings, Inc., Term Loan, First Lien, (WI/DD)

    TBD         TBD         B1         962,917   
  1,975     

Catalina Marketing Corporation, Term Loan, First Lien

    4.500%         4/09/21         B1         1,703,438   
  2,000     

Catalina Marketing Corporation, Term Loan, Second Lien

    7.750%         4/11/22         Caa1         1,325,400   
  7,480     

Cequel Communications LLC, Extended Term Loan

    3.500%         12/14/22         N/R         7,388,987   
  5,000     

Charter Communications Operating Holdings LLC, Term Loan I

    3.500%         1/23/23         BBB–         5,001,565   
  1,038     

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

    6.938%         1/30/19         CCC+         871,911   

 

  4      Nuveen Investments


Principal
Amount (000)
    Description (1)   Coupon (4)      Maturity (2)      Ratings (3)      Value  
      Media (continued)         
$ 2,718     

Clear Channel Communications, Inc.,Term Loan E

    7.688%         7/30/19         CCC+       $ 2,310,172   
  13,537     

Cumulus Media, Inc., Term Loan B

    4.250%         12/23/20         B2         11,548,342   
  3,761     

Emerald Expositions Holdings, Inc., Term Loan, First Lien

    4.750%         6/17/20         BB–         3,761,476   
  643     

EMI Music Publishing LLC, Term Loan B3

    4.000%         8/19/22         BB–         643,112   
  890     

Gray Television, Inc., Initial Term Loan

    3.750%         6/13/21         BB         889,651   
  2,963     

IMG Worldwide, Inc., First Lien

    5.250%         5/06/21         B1         2,962,485   
  3,703     

Interactive Data Corporation, Term Loan B

    4.750%         5/02/21         B+         3,706,969   
  1,500     

Lions Gate Entertainment Corporation, Term Loan B, Second Lien

    5.000%         3/17/22         BB–         1,505,625   
  3,338     

McGraw-Hill Education Holdings LLC, Term Loan B

    4.750%         3/22/19         B+         3,347,312   
  1,940     

Mediacom Broadband LLC, Tranche G, Term Loan

    4.000%         1/20/20         BB         1,940,000   
  2,500     

Numericable Group S.A., Term Loan, (WI/DD)

    TBD         TBD         B+         2,474,610   
  3,193     

Numericable Group S.A., Term Loan B1

    4.500%         5/21/20         B+         3,157,126   
  2,762     

Numericable Group S.A., Term Loan B2

    4.500%         5/21/20         B+         2,731,345   
  3,300     

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

    4.750%         8/14/20         B1         3,270,716   
  17,529     

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

    4.000%         3/01/20         B+         17,421,548   
  673     

Virgin Media Investment Holdings, Term Loan F, First Lien

    3.500%         6/30/23         BB–         669,429   
  672     

Weather Channel Corporation, Term Loan, Second Lien

    7.000%         6/26/20         CCC+         672,611   
  1,994     

WMG Acquisition Corporation, Tranche B, Refinancing Term Loan

    3.750%         7/01/20         B1         1,943,948   
  561     

Yell Group PLC, Term Loan A2

    5.319%         3/01/19         N/R         1,136,195   
  50     

Yell Group PLC, Term Loan A2, (8)

    1.500%         3/03/19         N/R           
  1,925     

Yell Group PLC, Term Loan B2, PIK, (8)

    0.000%         3/03/24         N/R           
  94,709     

Total Media

                               89,071,986   
      Multiline Retail – 2.8% (1.7% of Total Investments)         
  2,239     

Bass Pro Group LLC, Term Loan B, First Lien

    4.000%         6/05/20         BB–         2,226,623   
  6,414     

Dollar Tree, Inc., Term Loan B1

    3.500%         7/06/22         BB+         6,432,820   
  2,010     

Dollar Tree, Inc., Term Loan B2

    4.250%         7/06/22         BB+         2,015,759   
  3,000     

Hudson’s Bay Company, Term Loan B, First Lien

    4.750%         9/30/22         BB         3,009,375   
  4,073     

J.C. Penney Corporation, Inc., Term Loan

    5.000%         6/20/19         B         4,060,708   
  17,736     

Total Multiline Retail

                               17,745,285   
      Oil, Gas & Consumable Fuels – 2.0% (1.2% of Total Investments)         
  693     

Crestwood Holdings LLC, Term Loan B

    7.000%         6/19/19         B2         564,416   
  5,480     

Energy and Exploration Partners, Term Loan

    7.750%         1/22/19         N/R         3,945,313   
  867     

EP Energy LLC, Term Loan B3, Second Lien

    3.500%         5/24/18         Ba2         783,792   
  1,703     

Fieldwood Energy LLC, Term Loan, Second Lien

    8.375%         9/30/20         B–         644,962   
  4,258     

Harvey Gulf International Marine, Inc., Term Loan B

    5.500%         6/18/20         B–         2,821,748   
  3,843     

Seadrill Partners LLC, Initial Term Loan

    4.000%         2/21/21         B         2,259,441   
  427     

Southcross Holdings Borrower L.P., Holdco Term Loan

    6.000%         8/04/21         B–         322,626   
  1,121     

Western Refining, Inc., Term Loan B

    4.250%         11/12/20         BB–         1,102,385   
  18,392     

Total Oil, Gas & Consumable Fuels

                               12,444,683   
      Pharmaceuticals – 4.7% (2.9% of Total Investments)         
  6,000     

Endo Health Solutions, Inc., Term Loan B

    3.750%         9/26/22         Ba1         5,915,250   
  51     

Graceway Pharmaceuticals LLC, Term Loan, (5)

    0.000%         5/03/12         N/R         50,872   
  5,625     

Graceway Pharmaceuticals LLC, Second Lien Term Loan, (5)

    0.000%         5/03/13         N/R         35,156   
  1,178     

Grifols, Inc., Term Loan

    3.188%         2/27/21         Ba1         1,177,492   
  3,950     

Patheon, Inc., Term Loan B

    4.250%         3/11/21         B1         3,877,912   
  5,583     

Pharmaceutical Product Development, Inc., Term Loan B, First Lien

    4.250%         8/18/22         B1         5,518,184   
  4,451     

Pharmaceutical Research Associates, Inc., Term Loan

    4.500%         9/23/20         BB–         4,461,420   
  2,639     

Valeant Pharmaceuticals International, Inc., Term Loan E

    3.750%         8/05/20         BB         2,459,086   
  6,535     

Valeant Pharmaceuticals International, Inc., Term Loan F

    4.000%         4/01/22         Ba1         6,088,868   
  36,012     

Total Pharmaceuticals

                               29,584,240   
      Professional Services – 0.2% (0.1% of Total Investments)         
  1,129     

Ceridian Corporation, Term Loan B2

    4.500%         9/15/20         Ba3         1,041,081   
      Real Estate Investment Trust – 4.2% (2.6% of Total Investments)         
  15,261     

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

    5.000%         10/24/22         BBB–         14,435,067   
  4,876     

Realogy Corporation, Initial Term Loan B

    3.750%         3/05/20         BB         4,877,914   
  2,286     

Starwood Property Trust, Inc., Term Loan B

    3.500%         4/17/20         BB         2,268,918   

 

Nuveen Investments     5   


JFR    Nuveen Floating Rate Income Fund   
   Portfolio of Investments (continued)    October 31, 2015 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Coupon (4)      Maturity (2)      Ratings (3)      Value  
      Real Estate Investment Trust (continued)         
$ 5,466     

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

    4.750%         12/18/20         BB–       $ 5,037,635   
  27,889     

Total Real Estate Investment Trust

                               26,619,534   
      Real Estate Management & Development – 1.5% (0.9% of Total Investments)         
  3,723     

Capital Automotive LP, Term Loan, Second Lien

    6.000%         4/30/20         B1         3,741,506   
  5,593     

Capital Automotive LP, Term Loan, Tranche B1

    4.000%         4/10/19         Ba2         5,602,098   
  9,316     

Total Real Estate Management & Development

                               9,343,604   
      Road & Rail – 0.3% (0.2% of Total Investments)         
  2,000     

Quality Distribution, Term Loan, First Lien

    5.750%         8/18/22         B1         1,960,000   
      Semiconductors & Semiconductor Equipment – 3.2% (2.0% of Total Investments)         
  7,060     

Avago Technologies, Term Loan B

    3.750%         5/06/21         BBB         7,065,905   
  7,349     

Freescale Semiconductor, Inc., Term Loan, Tranche B4

    4.250%         2/28/20         N/R         7,351,764   
  2,940     

Freescale Semiconductor, Inc., Term Loan, Tranche B5

    5.000%         1/15/21         N/R         2,943,975   
  2,899     

NXP Semiconductor LLC, Term Loan D

    3.250%         1/11/20         BBB–         2,867,191   
  20,248     

Total Semiconductors & Semiconductor Equipment

                               20,228,835   
      Software – 10.0% (6.2% of Total Investments)         
  3,081     

Blackboard, Inc., Term Loan B3

    4.750%         10/04/18         B+         3,040,990   
  5,640     

BMC Software, Inc., Initial Term Loan

    5.000%         9/10/20         B1         5,095,862   
  2,500     

Computer Sciences Government Services, Term Loan B, First Lien, (WI/DD)

    TBD         TBD         N/R         2,509,375   
  5,375     

Compuware Corporation, Tranche B2, Term Loan, First Lien

    6.250%         12/15/21         B         5,131,275   
  4,007     

Ellucian, Term Loan B, First Lien

    4.750%         9/30/22         B         4,006,628   
  4,672     

Emdeon Business Services LLC, Term Loan B2

    3.750%         11/02/18         Ba3         4,650,438   
  12,847     

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

    3.750%         6/03/20         B+         12,528,518   
  1,750     

Informatica Corp.,Term Loan B

    4.500%         8/05/22         B         1,733,411   
  2,808     

Micro Focus International PLC, Term Loan B

    5.250%         11/19/21         BB–         2,808,532   
  3,135     

Micro Focus International PLC, Term Loan C

    4.500%         11/20/19         BB–         3,134,022   
  6,305     

Misys PLC, Term Loan B, First Lien

    5.000%         12/12/18         B+         6,312,248   
  3,913     

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

    4.000%         7/08/22         BB         3,929,298   
  605     

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

    4.000%         7/08/22         BB         607,972   
  2,615     

SunGard Data Systems, Inc., Term Loan E

    4.000%         3/08/20         BB         2,616,380   
  5,278     

Zebra Technologies Corporation, Term Loan B, First Lien

    4.750%         10/27/21         BB+         5,321,125   
  64,531     

Total Software

                               63,426,074   
      Specialty Retail – 1.6% (1.0% of Total Investments)         
  3,589     

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

    4.000%         3/16/18         Ba3         3,498,917   
  2,687     

Petsmart, Inc., Term Loan B

    4.250%         3/11/22         BB–         2,689,248   
  490     

Pilot Travel Centers LLC, Term Loan B, First Lien, (WI/DD)

    TBD         TBD         BB+         493,437   
  3,400     

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

    TBD         TBD         BBB         3,388,100   
  10,166     

Total Specialty Retail

                               10,069,702   
      Technology Hardware, Storage & Peripherals – 2.8% (1.7% of Total Investments)         
  17,686     

Dell, Inc., Term Loan B2

    4.000%         4/29/20         BBB         17,707,048   
      Trading Companies & Distributors – 1.7% (1.0% of Total Investments)         
  9,247     

HD Supply, Inc., Term Loan B

    3.750%         8/13/21         BB–         9,232,309   
  1,666     

Neff Rental/Neff Finance Closing Date Loan, Second Lien

    7.250%         6/09/21         B–         1,524,470   
  10,913     

Total Trading Companies & Distributors

                               10,756,779   
      Transportation Infrastructure – 0.4% (0.3% of Total Investments)         
  152     

Ceva Group PLC, Canadian Term Loan

    6.500%         3/19/21         B2         133,915   
  879     

Ceva Group PLC, Dutch B.V., Term Loan

    6.500%         3/19/21         B2         776,708   
  846     

Ceva Group PLC, Synthetic Letter of Credit Term Loan

    6.500%         3/19/21         B2         747,731   
  1,213     

Ceva Group PLC, US Term Loan

    6.500%         3/19/21         B2         1,071,322   
  3,090     

Total Transportation Infrastructure

                               2,729,676   

 

  6      Nuveen Investments


Principal
Amount (000)
    Description (1)   Coupon (4)      Maturity (2)      Ratings (3)      Value  
      Wireless Telecommunication Services – 2.5% (1.5% of Total Investments)         
$ 4,611     

Asurion LLC, Term Loan B1

    5.000%         5/24/19         Ba3       $ 4,414,253   
  4,769     

Asurion LLC, Term Loan B4, First Lien

    5.000%         8/04/22         Ba3         4,521,208   
  4,874     

Fairpoint Communications, Inc., Term Loan B

    7.500%         2/14/19         B         4,895,110   
  2,000     

UPC Broadband Holding BV, Term Loan AH

    3.250%         6/30/21         BB         1,972,322   
  16,254     

Total Wireless Telecommunication Services

                               15,802,893   
$ 832,444     

Total Variable Rate Senior Loan Interests (cost $826,556,703)

                               789,861,717   
Shares     Description (1)                           Value  
 

COMMON STOCKS – 1.3% (0.8% of Total Investments)

          
      Diversified Consumer Services – 0.3% (0.2% of Total Investments)                           
  78,490     

Cengage Learning Holdings II LP, (6), (7)

           $ 1,942,627   
  9,876,769     

Education Management Corporation, (6), (7)

                               98,768   
 

Total Diversified Consumer Services

                               2,041,395   
      Hotels, Restaurants & Leisure – 0.3% (0.2% of Total Investments)                           
  37,535     

BLB Worldwide Holdings Inc., (6), (7)

             1,820,447   
  2,670     

Buffets Term Loan, (6), (7)

                                 
 

Total Hotels, Restaurants & Leisure

                               1,820,447   
      Media – 0.7% (0.4% of Total Investments)                           
  6,597     

Cumulus Media, Inc., (6)

             3,029   
  26,045     

Metro-Goldwyn-Mayer, (6), (7)

             1,966,398   
  57,088     

Tribune Media Company

             2,302,359   
  45,942     

Tribune Media Company, (8)

               
  14,272     

Tribune Publishing Company

                               134,728   
 

Total Media

                               4,406,514   
      Professional Services – 0.0% (0.0% of Total Investments)         
  47,152     

Vertrue, Inc., (6), (7)

                               101,377   
      Software – 0.0% (0.0% of Total Investments)                           
  743,286     

Eagle Topco LP, (6), (8)

                               1   
 

Total Common Stocks (cost $8,363,494)

                               8,369,734   
Shares     Description (1)   Coupon              Ratings (3)      Value  
 

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 0.0% (0.0% of Total Investments)

  

  
      Diversified Consumer Services – 0.0% (0.0% of Total Investments)                           
  10,989     

Education Management Corporation

    7.500%                  N/R       $ 164,835   
 

Total $25 Par (or similar) Retail Preferred (cost $26,686)

                               164,835   
Principal
Amount (000)
    Description (1)   Coupon      Maturity      Ratings (3)      Value  
 

CONVERTIBLE BONDS – 0.1% (0.1% of Total Investments)

          
      Communications Equipment – 0.1% (0.1% of Total Investments)                           
$ 850     

Nortel Networks Corp., (5)

    1.750%         4/15/12         N/R       $ 716,125   
$ 850     

Total Convertible Bonds (cost $696,250)

                               716,125   
Principal
Amount (000)
    Description (1)   Coupon      Maturity      Ratings (3)      Value  
 

CORPORATE BONDS – 15.2% (9.3% of Total Investments)

          
      Commercial Services & Supplies – 0.1% (0.1% of Total Investments)         
$ 700     

NES Rental Holdings Inc., 144A

    7.875%         5/01/18         B–       $ 697,375   

 

Nuveen Investments     7   


JFR    Nuveen Floating Rate Income Fund   
   Portfolio of Investments (continued)    October 31, 2015 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Coupon      Maturity      Ratings (3)      Value  
      Communications Equipment – 0.2% (0.1% of Total Investments)         
$ 2,500     

Avaya Inc., 144A

    10.500%         3/01/21         CCC+       $ 968,750   
      Containers & Packaging – 0.3% (0.2% of Total Investments)         
  1,715     

Reynolds Group

    9.875%         8/15/19         CCC+         1,805,038   
      Diversified Telecommunication Services – 1.9% (1.1% of Total Investments)         
  2,560     

Frontier Communications Corporation

    6.250%         9/15/21         BB         2,286,080   
  2,200     

Frontier Communications Corporation

    6.875%         1/15/25         BB         1,901,013   
  1,500     

IntelSat Limited

    6.750%         6/01/18         CCC+         1,331,250   
  5,750     

IntelSat Limited

    7.750%         6/01/21         CCC+         3,392,500   
  4,550     

IntelSat Limited

    8.125%         6/01/23         CCC+         2,695,875   
  16,560     

Total Diversified Telecommunication Services

                               11,606,718   
      Health Care Equipment & Supplies – 2.5% (1.5% of Total Investments)         
  3,250     

Kinetic Concepts

    10.500%         11/01/18         B–         3,431,675   
  2,000     

Kinetic Concepts

    12.500%         11/01/19         CCC+         2,122,500   
  1,000     

Tenet Healthcare Corporation

    6.750%         2/01/20         B3         1,013,750   
  4,000     

Tenet Healthcare Corporation

    6.000%         10/01/20         Ba2         4,320,000   
  1,650     

Tenet Healthcare Corporation

    8.125%         4/01/22         B3         1,744,875   
  3,335     

Tenet Healthcare Corporation

    6.750%         6/15/23         B3         3,309,988   
  15,235     

Total Health Care Equipment & Supplies

                               15,942,788   
      Health Care Providers & Services – 2.0% (1.3% of Total Investments)         
  4,000     

Community Health Systems, Inc.

    5.125%         8/01/21         BB         4,130,000   
  6,400     

Community Health Systems, Inc.

    6.875%         2/01/22         B+         6,448,000   
  1,200     

IASIS Healthcare Capital Corporation

    8.375%         5/15/19         CCC+         1,227,000   
  1,000     

Truven Health Analytics Inc.

    10.625%         6/01/20         CCC+         1,047,500   
  12,600     

Total Health Care Providers & Services

                               12,852,500   
      Hotels, Restaurants & Leisure – 0.5% (0.3% of Total Investments)         
  275     

Scientific Games Corporation

    8.125%         9/15/18         B–         250,250   
  3,200     

Scientific Games International Inc.

    10.000%         12/01/22         B         2,832,000   
  3,475     

Total Hotels, Restaurants & Leisure

                               3,082,250   
      Media – 4.1% (2.5% of Total Investments)                           
  1,000     

CCO Holdings LLC Finance Corporation

    5.750%         9/01/23         BB–         1,027,500   
  200     

CCO Safari II LLC, 144A

    3.579%         7/23/20         BBB–         200,750   
  1,762     

Clear Channel Communications, Inc.

    10.000%         1/15/18         CCC–         933,860   
  6,562     

Clear Channel Communications, Inc.

    9.000%         12/15/19         CCC+         5,553,093   
  10,842     

Clear Channel Communications, Inc.

    14.000%         2/01/21         CCC–         4,445,018   
  10,350     

Clear Channel Communications, Inc.

    9.000%         3/01/21         CCC+         8,512,875   
  2,000     

Dish DBS Corporation

    5.875%         7/15/22         BB–         1,960,000   
  1,500     

Dish DBS Corporation

    5.875%         11/15/24         BB–         1,434,750   
  1,875     

McGraw-Hill Global Education Holdings

    9.750%         4/01/21         BB         2,053,125   
  36,091     

Total Media

                               26,120,971   
      Real Estate Investment Trust – 0.2% (0.1% of Total Investments)         
  1,500     

iStar Inc.

    4.000%         11/01/17         B+         1,466,250   
      Semiconductors & Semiconductor Equipment – 0.8% (0.5% of Total Investments)         
  500     

Advanced Micro Devices, Inc.

    6.750%         3/01/19         B–         385,000   
  2,800     

Advanced Micro Devices, Inc.

    7.750%         8/01/20         B–         2,072,000   
  2,468     

Advanced Micro Devices, Inc.

    7.500%         8/15/22         B–         1,789,300   
  1,000     

Advanced Micro Devices, Inc.

    7.000%         7/01/24         B–         700,000   
  6,768     

Total Semiconductors & Semiconductor Equipment

                               4,946,300   
      Software – 0.5% (0.3% of Total Investments)         
  2,500     

BMC Software Finance Inc., 144A

    8.125%         7/15/21         CCC+         1,934,374   

 

  8      Nuveen Investments


Principal
Amount (000)
    Description (1)   Coupon      Maturity      Ratings (3)      Value  
      Software (continued)         
$ 1,500     

Boxer Parent Company Inc./BMC Software, 144A

    9.000%         10/15/19         CCC+       $ 1,072,500   
  4,000     

Total Software

                               3,006,874   
 

Wireless Telecommunication Services – 2.1% (1.3% of Total Investments)

  

  
  750     

FairPoint Communications Inc., 144A

    8.750%         8/15/19         B         772,500   
  7,750     

Sprint Corporation

    7.875%         9/15/23         B+         7,168,750   
  1,750     

Sprint Corporation

    7.125%         6/15/24         B+         1,536,719   
  3,750     

T-Mobile USA Inc.

    6.250%         4/01/21         BB         3,871,500   
  14,000     

Total Wireless Telecommunication Services

                               13,349,469   
$ 115,144     

Total Corporate Bonds (cost $113,644,571)

                               95,845,283   
Principal
Amount (000)
    Description (1)   Coupon      Maturity      Ratings (3)      Value  
 

ASSET-BACKED SECURITIES – 6.4% (3.9% of Total Investments)

          
$ 1,200     

Bluemountain Collateralized Loan Obligation, Series 2012 2A E14

    5.433%         11/20/24         BB       $ 1,114,087   
  2,500     

Bluemountain Collateralized Loan Obligations Limited 2012-1A, 144A

    5.787%         7/20/23         BB         2,334,274   
  500     

Carlyle Global Market Strategies Collateralized Loan Obligations, Series 2013-2A

    5.317%         4/18/25         BB         446,720   
  1,750     

Carlyle Global Market Strategies, Collateralized Loan Obligations, Series 2013-3A, 144A

    4.921%         7/15/25         BB         1,521,329   
  1,000     

Finn Square Collateralized Loan Obligations Limited, Series 2012-1A, 144A

    5.377%         12/24/23         BB         910,680   
  1,500     

Flatiron Collateralized Loan Obligation Limited, Series 2011-1A

    4.721%         1/15/23         BB         1,337,687   
  500     

ING Investment Management, Collateralized Loan Obligation, 2013-1A D, 144A

    5.321%         4/15/24         BB         441,243   
  2,700     

LCM Limited Partnership, Collateralized Loan Obligation 2012A, 144A

    6.037%         10/19/22         BB         2,656,950   
  6,000     

LCM Limited Partnership, Collateralized Loan Obligation, 2015A

    5.329%         2/25/17         BB–         5,253,546   
  3,000     

LCM Limited Partnership, Collateralized Loan Obligation, Series 10AR, 144A

    5.789%         4/15/22         BB         2,987,412   
  1,500     

LCM Limited Partnership, Collateralized Loan Obligation, Series 11A

    5.465%         4/19/22         BB+         1,403,130   
  1,500     

Madison Park Funding Limited, Collateralized Loan Obligations, Series 2012-8A, 144A

    5.645%         4/22/22         BB         1,498,292   
  2,750     

Madison Park Funding Limited, Collateralized Loan Obligations, Series 2015-16A

    5.802%         4/20/26         Ba3         2,419,590   
  1,500     

Madison Park Funding Limited, Series 2012-10A

    5.567%         1/20/25         BB         1,403,076   
  500     

North End CLO Limited, Loan Pool, 144A

    4.915%         7/17/25         BB         421,291   
  750     

Northwoods Capital Corporation, Collateralized Loan Obligations 2012-9A

    5.417%         1/18/24         BB–         648,469   
  800     

Oak Hill Credit Partners Series 2013-9A

    5.317%         10/20/25         BB–         711,510   
  3,360     

Oak Hill Credit Partners, Series 2012-7A

    5.333%         11/20/23         BB         3,126,261   
  3,000     

Octagon Investment Partners, Series 2015-1A

    6.176%         10/20/26         Ba3         2,825,400   
  3,000     

Race Point Collateralized Loan Obligation Series 2012-7A, 144A

    5.311%         11/08/24         BB–         2,717,664   
  1,000     

Race Point Collateralized Loan Obligation Limited 2011-5AR, 144A

    6.337%         12/15/22         BB         972,996   
  3,000     

Race Point Collateralized Loan Obligations, Series 2012-6A, 144A

    6.079%         5/24/23         BB         2,894,217   
$ 43,310     

Total Asset-Backed Securities (cost $40,303,823)

                               40,045,824   
Shares     Description (1), (9)                           Value  
 

INVESTMENT COMPANIES – 1.7% (1.0% of Total Investments)

          
  353,668     

Eaton Vance Floating-Rate Income Trust Fund

           $ 4,661,345   
  968,586     

Eaton Vance Senior Income Trust

                               5,859,945   
 

Total Investment Companies (cost $11,981,509)

                               10,521,290   
 

Total Long-Term Investments (cost $1,001,573,036)

                               945,524,808   

 

Nuveen Investments     9   


JFR    Nuveen Floating Rate Income Fund   
   Portfolio of Investments (continued)    October 31, 2015 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Coupon      Maturity            Value  
 

SHORT-TERM INVESTMENTS – 13.1% (8.1% of Total Investments)

          
      REPURCHASE AGREEMENTS – 13.1% (8.1% of Total Investments)                         
$ 83,053     

Repurchase Agreement with Fixed Income Clearing Corporation, dated 10/30/15, repurchase price $83,052,609, collateralized by $84,645,000 U.S. Treasury Notes, 0.750%, due 12/31/17, value $84,716,610

    0.000%         11/02/15            $ 83,052,609   
 

Total Short-Term Investments (cost $83,052,609)

                           83,052,609   
 

Total Investments (cost $1,084,625,645) – 162.8%

                           1,028,577,417   
 

Borrowings – (40.1)% (10), (11)

                           (253,300,000
 

Variable Rate Term Preferred Shares, at Liquidation Value – (22.0)% (12)

  

                   (139,000,000
 

Other Assets Less Liabilities – (0.7)%

                           (4,543,874
 

Net Assets Applicable to Common Shares – 100%

                         $ 631,733,543   

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:

           

Variable Rate Senior Loan Interests

   $       $ 789,861,717       $  —    $ 789,861,717   

Common Stocks

     2,440,116         5,929,617         1         8,369,734   

$25 Par (or similar) Retail Preferred

             164,835                 164,835   

Convertible Bonds

             716,125                 716,125   

Corporate Bonds

             95,845,283                 95,845,283   

Asset-Backed Securities

             40,045,824                 40,045,824   

Investment Companies

     10,521,290                         10,521,290   

Short-Term Investments:

           

Repurchase Agreements

             83,052,609                 83,052,609   

Total

   $ 12,961,406       $ 1,015,616,010       $ 1       $ 1,028,577,417   
* Value equals zero as of the end of the reporting period.

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 recognition of premium amortization. To the

 

  10      Nuveen Investments


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 October 31, 2015, the cost of investments was $1,085,745,280.

Gross unrealized appreciation and gross unrealized depreciation of investments as of October 31, 2015, were as follows:

 

Gross unrealized:

          

Appreciation

     $ 7,904,723   

Depreciation

       (65,072,586

Net unrealized appreciation (depreciation) of investments

     $ (57,167,863

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) 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.

 

(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) 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.

 

(5) At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.

 

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

 

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

 

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

 

(9) A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission (SEC) on its website at http://www.sec.gov.

 

(10) Borrowings as a percentage of Total Investments is 24.6%.

 

(11) The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives, when applicable) as collateral for borrowings.

 

(12) Variable Rate Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 13.5%.

 

(DD1) Portion of investment purchased on a delayed delivery basis.

 

(WI/DD) Purchased on a when-issued or delayed delivery basis.

 

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.

 

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.

 

Nuveen Investments     11   


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 Floating Rate Income Fund   
By (Signature and Title)    /s/ Kevin J. McCarthy                                                               
   Kevin J. McCarthy   
   Vice President and Secretary   

Date: December 30, 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: December 30, 2015      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: December 30, 2015