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 811-21809

Nuveen S&P 500 Dynamic Overwrite Fund

(Exact name of registrant as specified in charter)

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman—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, 2017  

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

SPXX

Nuveen S&P 500 Dynamic Overwrite Fund
Portfolio of Investments	September 30, 2017 (Unaudited)

Shares		Description (1)	Value
		LONG-TERM INVESTMENTS – 102.2%
		COMMON STOCKS – 100.0%
		Aerospace & Defense – 2.4%
	8,860	Boeing Company	$	2,252,301
	4,500	Lockheed Martin Corporation		1,396,305
	6,361	Raytheon Company		1,186,835
	12,156	United Technologies Corporation, (2)		1,411,068
		Total Aerospace & Defense		6,246,509
		Air Freight & Logistics – 0.7%
	15,007	United Parcel Service, Inc., Class B		1,802,191
		Airlines – 0.3%
	8,915	Alaska Air Group, Inc.		679,947
	7,400	JetBlue Airways Corporation, (3)		137,122
		Total Airlines		817,069
		Auto Components – 0.1%
	7,910	Cooper Tire & Rubber		295,834
		Automobiles – 0.5%
	79,596	Ford Motor Company, (2)		952,764
	1,096	Tesla Motors Inc., (3)		373,846
		Total Automobiles		1,326,610
		Banks – 7.4%
	142,200	Bank of America Corporation, (2)		3,603,348
	40,300	Citigroup Inc.		2,931,422
	12,643	Comerica Incorporated		964,155
	12,783	Fifth Third Bancorp.		357,668
	49,105	Huntington BancShares Inc.		685,506
	51,100	JPMorgan Chase & Co.		4,880,561
	33,673	Regions Financial Corporation		512,840
	33,569	U.S. Bancorp		1,798,963
	58,700	Wells Fargo & Company		3,237,305
		Total Banks		18,971,768
		Beverages – 2.1%
	58,100	Coca-Cola Company, (2)		2,615,081
	24,800	PepsiCo, Inc.		2,763,464
		Total Beverages		5,378,545
		Biotechnology – 3.2%
	20,942	AbbVie Inc.		1,860,906
	4,000	Alexion Pharmaceuticals Inc., (3)		561,160
	11,602	Amgen Inc., (2)		2,163,193
	100	Bioverativ, Inc., (3)		5,707
	13,800	Celgene Corporation, (3)		2,012,316
	20,500	Gilead Sciences, Inc., (2)		1,660,910
		Total Biotechnology		8,264,192
		Capital Markets – 2.6%
	26,500	Charles Schwab Corporation		1,159,110
	5,681	CME Group, Inc.		770,798
	16,013	Federated Investors Inc.		475,586
	7,570	Goldman Sachs Group, Inc.		1,795,528

NUVEEN 1

SPXX	Nuveen S&P 500 Dynamic Overwrite Fund
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)

Shares		Description (1)	Value
		Capital Markets (continued)
	13,620	Intercontinental Exchange Group, Inc.	$	935,694
	30,033	Morgan Stanley		1,446,690
		Total Capital Markets		6,583,406
		Chemicals – 2.3%
	100	Chemours Company		5,061
	36,749	DowDuPont, Inc.		2,544,133
	8,790	Eastman Chemical Company		795,407
	9,340	Monsanto Company		1,119,119
	8,226	Olin Corporation		281,740
	10,420	PPG Industries, Inc.		1,132,237
		Total Chemicals		5,877,697
		Commercial Services & Supplies – 0.3%
	10,103	Deluxe Corporation		737,115
		Communications Equipment – 1.2%
	73,500	Cisco Systems, Inc., (2)		2,471,805
	8,242	Motorola Solutions Inc.		699,499
		Total Communications Equipment		3,171,304
		Construction & Engineering – 0.0%
	100	Dycom Industries Inc., (3)		8,588
		Consumer Finance – 0.5%
	15,373	American Express Company		1,390,642
		Containers & Packaging – 0.3%
	9,130	Avery Dennison Corporation		897,844
		Distributors – 0.1%
	3,543	LKQ Corporation, (3)		127,513
		Diversified Financial Services – 1.4%
	20,000	Berkshire Hathaway Inc., Class B, (3)		3,666,400
		Diversified Telecommunication Services – 2.2%
	75,400	AT&T Inc., (2)		2,953,418
	5,000	Frontier Communications Corporation		58,950
	55,000	Verizon Communications Inc., (2)		2,721,950
		Total Diversified Telecommunication Services		5,734,318
		Electric Utilities – 0.9%
	20,000	Duke Energy Corporation		1,678,400
	5,900	Great Plains Energy Incorporated		178,770
	2,900	IDACORP, INC		254,997
	6,400	PNM Resources Inc.		257,920
	100	Westar Energy Inc.		4,960
		Total Electric Utilities		2,375,047
		Electrical Equipment – 0.9%
	6,600	Eaton PLC		506,814
	10,100	Emerson Electric Company		634,684
	6,854	Rockwell Automation, Inc.		1,221,451
		Total Electrical Equipment		2,362,949
		Electronic Equipment, Instruments & Components – 0.4%
	100	Coherent Inc., (3)		23,517
	35,466	Corning Incorporated		1,061,143
		Total Electronic Equipment, Instruments & Components		1,084,660

2 NUVEEN

Shares		Description (1)	Value
		Energy Equipment & Services – 0.6%
	6,800	Diamond Offshore Drilling, Inc.	$	98,600
	16,700	Ensco PLC		99,699
	100	Oil States International Inc., (3)		2,535
	18,006	Schlumberger Limited		1,256,099
	7,400	Superior Energy Services, Inc.		79,032
	9,300	Transocean Inc.		100,068
		Total Energy Equipment & Services		1,636,033
		Equity Real Estate Investment Trusts – 1.7%
	100	Alexander & Baldwin Inc.		4,633
	100	Camden Property Trust		9,145
	100	CoreCivic, Inc.		2,677
	4,500	Corporate Office Properties		147,735
	2,000	CyrusOne Inc.		117,860
	3,600	DCT Industrial Trust Inc.		208,512
	4,500	Douglas Emmett Inc.		177,390
	3,800	Education Realty Trust Inc.		136,534
	2,900	Entertainment Properties Trust		202,246
	100	First Industrial Realty Trust, Inc.		3,009
	100	Geo Group Inc.		2,690
	5,100	Healthcare Realty Trust, Inc.		164,934
	3,600	JBG Smith Properties, (3)		123,156
	100	Kilroy Realty Corporation		7,112
	100	Lamar Advertising Company		6,853
	100	LaSalle Hotel Properties		2,902
	1,700	Life Storage, Inc.		139,077
	100	Mack-Cali Realty Corporation		2,371
	3,800	National Retail Properties, Inc.		158,308
	20,277	Omega Healthcare Investors Inc.		647,039
	100	Quality Care Properties, Inc., (3)		1,550
	13,600	Sabra Health Care Real Estate Investment Trust Inc.		298,384
	9,800	Tanger Factory Outlet Centers		239,316
	3,400	Taubman Centers Inc.		168,980
	3,600	Uniti Group, Inc.		52,776
	6,200	Urban Edge Properties		149,544
	11,600	Ventas Inc.		755,508
	19,100	Washington Prime Group, Inc.		159,103
	8,800	Weingarten Realty Trust		279,312
		Total Equity Real Estate Investment Trusts		4,368,656
		Food & Staples Retailing – 1.8%
	18,974	CVS Health Corporation		1,542,966
	100	Sprouts Farmers Market Inc., (3)		1,877
	17,716	Walgreens Boots Alliance Inc.		1,368,029
	23,802	Wal-Mart Stores, Inc.		1,859,888
		Total Food & Staples Retailing		4,772,760
		Food Products – 0.5%
	13,960	Archer-Daniels-Midland Company		593,440
	17,628	ConAgra Foods, Inc.		594,769
	100	Hain Celestial Group Inc., (3)		4,115
	100	Post Holdings Inc., (3)		8,827
	100	Treehouse Foods Inc., (3)		6,773
		Total Food Products		1,207,924
		Health Care Equipment & Supplies – 1.8%
	27,082	Abbott Laboratories		1,445,095
	41,253	Boston Scientific Corporation, (3)		1,203,350
	100	Masimo Corporation, (3)		8,656
	25,000	Medtronic, PLC		1,944,250
		Total Health Care Equipment & Supplies		4,601,351

NUVEEN 3

SPXX	Nuveen S&P 500 Dynamic Overwrite Fund
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)

Shares		Description (1)	Value
		Health Care Providers & Services – 3.0%
	1,600	Acadia Healthcare Company Inc., (3)	$	76,416
	9,258	Aetna Inc.		1,472,115
	4,648	Anthem Inc.		882,562
	2,896	Humana Inc.		705,552
	6,974	Laboratory Corporation of America Holdings, (3)		1,052,865
	100	Lifepoint Health Inc., (3)		5,790
	4,815	McKesson HBOC Inc.		739,632
	100	Medax Inc., (3)		4,312
	3,400	Tenet Healthcare Corporation, (3)		55,862
	13,800	UnitedHealth Group Incorporated		2,702,730
		Total Health Care Providers & Services		7,697,836
		Health Care Technology – 0.0%
	100	Medidata Solutions, Inc., (3)		7,806
		Hotels, Restaurants & Leisure – 1.7%
	2,278	Dominos Pizza Inc.		452,297
	15,000	McDonald’s Corporation		2,350,200
	28,308	Starbucks Corporation		1,520,423
		Total Hotels, Restaurants & Leisure		4,322,920
		Household Durables – 0.6%
	100	CalAtlantic Group Inc.		3,663
	7,400	KB Home		178,488
	12,864	Newell Brands Inc.		548,907
	1,200	Tempur Sealy International, Inc., (3)		77,424
	100	Toll Brothers Inc.		4,147
	4,141	Whirlpool Corporation		763,766
		Total Household Durables		1,576,395
		Household Products – 2.0%
	17,234	Colgate-Palmolive Company		1,255,497
	9,737	Kimberly-Clark Corporation		1,145,850
	31,000	Procter & Gamble Company		2,820,380
		Total Household Products		5,221,727
		Industrial Conglomerates – 2.9%
	10,404	3M Co.		2,183,800
	135,400	General Electric Company, (2)		3,273,972
	13,978	Honeywell International Inc.		1,981,242
		Total Industrial Conglomerates		7,439,014
		Insurance – 2.9%
	19,900	American International Group, Inc.		1,221,661
	15,990	Arthur J. Gallagher & Co.		984,184
	1,363	Brighthouse Financial, Inc., (3)		82,870
	8,555	FNF Group		406,020
	17,377	Marsh & McLennan Companies, Inc.		1,456,366
	15,000	MetLife, Inc.		779,250
	10,189	Prudential Financial, Inc.		1,083,294
	1,700	Reinsurance Group of America Inc.		237,201
	11,000	Travelers Companies, Inc.		1,347,720
		Total Insurance		7,598,566
		Internet & Direct Marketing Retail – 3.0%
	5,380	Amazon.com, Inc., (3)		5,172,063
	6,300	NetFlix.com Inc., (3)		1,142,505
	790	Priceline Group Incorporated, (3)		1,446,348
		Total Internet & Direct Marketing Retail		7,760,916

4 NUVEEN

Shares		Description (1)	Value
		Internet Software & Services – 6.1%
	6,211	Akamai Technologies, Inc., (3)	$	302,600
	4,120	Alphabet Inc., Class A, (3)		4,011,726
	4,320	Alphabet Inc., Class C Shares, (3)		4,143,355
	2,708	Cars.com Incorporated, (3)		72,060
	22,900	eBay Inc., (3)		880,734
	32,300	Facebook Inc., Class A Shares, (2), (3)		5,519,101
	7,124	VeriSign, Inc., (3)		757,922
		Total Internet Software & Services		15,687,498
		IT Services – 4.1%
	2,575	DXC Technology Company		221,141
	12,964	Fidelity National Information Services		1,210,708
	2,000	Henry Jack and Associates Inc.		205,580
	10,000	International Business Machines Corporation, (2)		1,450,800
	19,200	MasterCard, Inc.		2,711,040
	19,800	PayPal Holdings, Inc., (3)		1,267,794
	32,300	Visa Inc.		3,399,252
		Total IT Services		10,466,315
		Leisure Products – 0.0%
	100	Polaris Industries Inc.		10,463
		Life Sciences Tools & Services – 0.7%
	1,983	Bio-Techne Corporation		239,725
	8,677	Thermo Fisher Scientific, Inc.		1,641,688
		Total Life Sciences Tools & Services		1,881,413
		Machinery – 2.4%
	12,391	Caterpillar Inc.		1,545,282
	4,049	Cummins Inc.		680,353
	7,146	Deere & Company		897,466
	9,843	Illinois Tool Works, Inc., (2)		1,456,370
	9,551	Pentair Limited		649,086
	3,300	Snap-on Incorporated		491,733
	3,000	Stanley Black & Decker Inc.		452,910
		Total Machinery		6,173,200
		Media – 2.5%
	100	AMC Networks Inc., Class A Shares, (3)		5,847
	12,544	CBS Corporation, Class B		727,552
	75,890	Comcast Corporation, Class A, (2)		2,920,247
	19,635	Regal Entertainment Group, Class A		314,160
	8,126	TEGNA Inc.		108,320
	25,000	Walt Disney Company		2,464,250
		Total Media		6,540,376
		Metals & Mining – 0.3%
	100	Allegheny Technologies, Inc.		2,390
	100	Compass Minerals International, Inc.		6,490
	31,558	Freeport-McMoRan, Inc.		443,074
	1,000	Royal Gold, Inc.		86,040
	3,337	Southern Copper Corporation		132,679
	200	United States Steel Corporation		5,132
		Total Metals & Mining		675,805
		Multiline Retail – 0.3%
	900	Dillard’s, Inc., Class A		50,463
	14,208	Target Corporation		838,414
		Total Multiline Retail		888,877

NUVEEN 5

SPXX	Nuveen S&P 500 Dynamic Overwrite Fund
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)

Shares		Description (1)	Value
		Multi-Utilities – 1.3%
	20,000	CenterPoint Energy, Inc., (2)	$	584,200
	13,676	Consolidated Edison, Inc.		1,103,380
	20,000	Dominion Resources, Inc.		1,538,600
	100	Northwestern Corporation		5,694
		Total Multi-Utilities		3,231,874
		Oil, Gas & Consumable Fuels – 5.5%
	24,500	Chevron Corporation, (2)		2,878,750
	20,462	ConocoPhillips		1,024,123
	100	CONSOL Energy Inc.		1,694
	100	Energen Corporation		5,468
	10,972	EOG Resources, Inc.		1,061,431
	55,300	Exxon Mobil Corporation		4,533,494
	5,500	Gulfport Energy Corporation, (3)		78,870
	8,000	Hess Corporation		375,120
	31,000	Marathon Oil Corporation		420,360
	11,172	Marathon Petroleum Corporation		626,526
	100	Matador Resources Company, (3)		2,715
	16,016	Occidental Petroleum Corporation		1,028,387
	7,102	ONEOK, Inc.		393,522
	100	PBF Energy Inc.		2,761
	9,273	Phillips 66		849,500
	8,800	QEP Resources Inc.		75,416
	3,100	SM Energy Company		54,994
	9,100	Southwestern Energy Company, (3)		55,601
	8,856	Valero Energy Corporation		681,292
	6,800	WPX Energy Inc., (3)		78,200
		Total Oil, Gas & Consumable Fuels		14,228,224
		Pharmaceuticals – 5.5%
	5,100	Allergan PLC, (2)		1,045,245
	24,190	Bristol-Myers Squibb Company		1,541,871
	14,900	Eli Lilly and Company		1,274,546
	2,000	Jazz Pharmaceuticals, Inc., (3)		292,500
	34,700	Johnson & Johnson		4,511,347
	35,860	Merck & Company Inc.		2,296,116
	9,340	Mylan NV, (3)		292,996
	78,800	Pfizer Inc.		2,813,160
		Total Pharmaceuticals		14,067,781
		Real Estate Management & Development – 0.1%
	1,900	Jones Lang LaSalle Inc.		234,650
		Road & Rail – 0.8%
	1,900	Avis Budget Group Inc., (3)		72,314
	16,145	Union Pacific Corporation, (2)		1,872,336
		Total Road & Rail		1,944,650
		Semiconductors & Semiconductor Equipment – 3.6%
	12,690	Analog Devices, Inc.		1,093,497
	100	First Solar Inc., (3)		4,588
	62,800	Intel Corporation, (2)		2,391,424
	12,219	Microchip Technology Incorporated		1,097,022
	9,215	NVIDIA Corporation		1,647,366
	22,796	QUALCOMM, Inc.		1,181,745
	100	Synaptics, Inc., (3)		3,918
	100	Teradyne Inc.		3,729
	21,784	Texas Instruments Incorporated		1,952,718
		Total Semiconductors & Semiconductor Equipment		9,376,007

6 NUVEEN

Shares		Description (1)	Value
		Software – 4.7%
	6,686	Autodesk, Inc., (3)	$	750,570
	5,653	CDK Global Inc.		356,648
	6,833	Electronic Arts Inc., (3)		806,704
	4,117	Micro Focus International, (3)		131,332
	100,700	Microsoft Corporation, (2)		7,501,143
	46,670	Oracle Corporation, (2)		2,256,494
	2,500	ServiceNow Inc., (3)		293,825
	100	Take-Two Interactive Software, Inc., (3)		10,223
		Total Software		12,106,939
		Specialty Retail – 2.8%
	8,407	Best Buy Co., Inc.		478,863
	5,900	Dick’s Sporting Goods Inc.		159,359
	20,000	Home Depot, Inc., (2)		3,271,200
	8,369	L Brands Inc.		348,234
	20,000	Lowe’s Companies, Inc.		1,598,800
	4,925	Tiffany & Co.		452,016
	10,968	TJX Companies, Inc.		808,671
	2,900	Urban Outfitters, Inc., (3)		69,310
		Total Specialty Retail		7,186,453
		Technology Hardware, Storage & Peripherals – 4.4%
	65,300	Apple, Inc., (2)		10,064,036
	29,981	Hewlett Packard Enterprise Co		441,020
	39,353	HP Inc., (2)		785,486
		Total Technology Hardware, Storage & Peripherals		11,290,542
		Textiles, Apparel & Luxury Goods – 0.5%
	100	Deckers Outdoor Corporation, (3)		6,841
	11,500	Nike, Inc., Class B		596,275
	100	Skechers USA Inc., (3)		2,509
	10,552	VF Corporation, (2)		670,791
		Total Textiles, Apparel & Luxury Goods		1,276,416
		Tobacco – 1.8%
	26,349	Altria Group, Inc.		1,671,054
	6,869	British American Tobacco PLC		428,969
	23,490	Philip Morris International		2,607,625
		Total Tobacco		4,707,648
		Trading Companies & Distributors – 0.3%
	3,613	W.W. Grainger, Inc.		649,437
		Water Utilities – 0.0%
	100	Aqua America Inc.		3,319
		Total Common Stocks (cost $141,770,018)		257,959,992
Shares		Description (1), (4)	Value
		EXCHANGE-TRADED FUNDS – 2.2%
	23,000	SPDR S&P 500 ETF Trust	$	5,778,290
		Total Exchange-Traded Funds (cost $5,681,346)		5,778,290
		Total Long-Term Investments (cost $147,451,364)		263,738,282

NUVEEN 7

SPXX	Nuveen S&P 500 Dynamic Overwrite Fund
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Coupon		Maturity		Value
		SHORT-TERM INVESTMENTS – 0.0%
		REPURCHASE AGREEMENTS – 0.0%
$	146	Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/29/17, repurchase price $146,003, collateralized by $150,000 U.S. Treasury Notes, 2.250%, due 2/15/27, value $149,740		0.120%		10/02/17	$	146,002
		Total Short-Term Investments (cost $146,002)						146,002
		Total Investments (cost $147,597,366) – 102.2%						263,884,284
		Other Assets Less Liabilities – (2.2)% (5)						(5,805,441	)
		Net Assets – 100%					$	258,078,843

Investments in Derivatives as of September 30, 2017

Options Purchased

Call Options

Description (6)	Number of Contracts		Notional Amount (7)		Exercise Price		Expiration Date		Value
CBOE Volatility Index®		100	$	130,000	$	13		10/18/17	$	6,500
CBOE Volatility Index®		100		120,000		12		10/18/17		9,000
iShares Silver Trust®		200		320,000		16		10/20/17		3,100
Total Call Options Purchased (premiums paid $28,509)		400	$	570,000					$	18,600

Put Options

Description (6)	Number of Contracts		Notional Amount (7)		Exercise Price		Expiration Date		Value
S&P 500® Index		22	$	5,390,000	$	2,450		10/20/17	$	8,800
Total Put Options Purchased (premiums paid $19,405)		22	$	5,390,000					$	8,800

Options Written

Call Options

Description (6)	Number of Contracts			Notional Amount (7)			Exercise Price		Expiration Date		Value
CBOE Volatility Index®		(100	)	$	(160,000	)	$	16		10/18/17	$	(3,500	)
NASDAQ 100® Index		(9	)		(5,400,000	)		6,000		10/20/17		(47,115	)
Russell 2000 Index®		(38	)		(5,472,000	)		1,440		10/20/17		(214,700	)
S&P 500® Index		(544	)		(136,000,000	)		2,500		10/20/17		(1,534,080	)
Total Call Options Written (premiums received $1,206,630)		(691	)	$	(147,032,000	)					$	(1,799,395	)

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.

8 NUVEEN

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	$	257,959,992		$	—	$	—	$	257,959,992
Exchange-Traded Funds		5,778,290			—		—		5,778,290
Short-Term Investments:
Repurchase Agreements		—			146,002		—		146,002
Investments in Derivatives:
Options Purchased		27,400			—		—		27,400
Options Written		(1,799,395	)		—		—		(1,799,395	)
Total	$	261,966,287		$	146,002	$	—	$	262,112,289

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 recording income, timing differences in recognizing certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on options contracts. 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.

The tables below present the cost and unrealized appreciation (depreciation) of the Fund’s investment portfolio, as determined on a federal income tax basis, as of September 30, 2017.

For purposes of this disclosure, derivative tax cost is generally the sum of any upfront fees or premiums exchanged and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting. If a particular derivative category does not disclose any tax unrealized appreciation or depreciation, the change in value of those derivatives have generally been fully realized for tax purposes.

Tax cost of investments	$	147,597,366
Gross unrealized:
Appreciation	$	122,859,569
Depreciation		(6,572,651	)
Net unrealized appreciation (depreciation) of investments	$	116,286,918
Tax cost of options purchased		$ 27,400
Net unrealized appreciation (depreciation) on options purchased	$	—
Tax cost of options written		$(1,799,395	)
Net unrealized appreciation (depreciation) on options written	$	—

NUVEEN 9

SPXX	Nuveen S&P 500 Dynamic Overwrite Fund
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)

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 in the Portfolio of Investments are based on net assets.

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

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

(4) A copy of the most recent financial statements for these exchange-traded funds can be obtained directly from the Securities and Exchange Commission or on its website http://www.sec.gov.

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

(6) Exchange-traded, unless otherwise noted.

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

10 NUVEEN

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 S&P 500 Dynamic Overwrite Fund
By (Signature and Title)	/s/ Gifford R. Zimmerman
	Gifford R. Zimmerman
	Vice President and Secretary

Date: November 29, 2017

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/ Cedric H. Antosiewicz
	Cedric H. Antosiewicz
	Chief Administrative Officer (principal executive officer)
Date: November 29, 2017
By (Signature and Title)	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller (principal financial officer)
Date: November 29, 2017