N-Q 1 d357077dnq.htm DIVERSIFIED REAL ASSET INCOME FUND Diversified Real Asset 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 811-22936

Diversified Real Asset Income 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:       May 31      

Date of reporting period:  February 28, 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

 

 


DRA

 

Diversified Real Asset Income Fund

  

Portfolio of Investments

   February 28, 2017 (Unaudited)

 

Shares          Description (1)                           Value  
   

LONG-TERM INVESTMENTS – 139.5% (98.9% of Total Investments)

 

        
   

COMMON STOCKS – 57.8% (41.0% of Total Investments)

          
          Air Freight & Logistics – 0.9% (0.6% of Total Investments)                           
  86,975      

BPost SA, (2)

           $ 2,159,764  
  22,985        

Oesterreichische Post AG

                               835,824  
   

Total Air Freight & Logistics

                               2,995,588  
          Commercial Services & Supplies – 0.6% (0.4% of Total Investments)                       
  126,640        

Covanta Holding Corporation

                               2,051,568  
          Construction & Engineering – 0.2% (0.2% of Total Investments)                
  43,082        

Ferrovial SA, (2)

                               816,158  
          Diversified Telecommunication Services – 0.7% (0.5% of Total Investments)                       
  673,880      

HKBN Limited, (2)

             785,192  
  1,312,082        

HKT Trust and HKT Limited, (2)

                               1,750,258  
   

Total Diversified Telecommunication Services

                               2,535,450  
          Electric Utilities – 7.3% (5.2% of Total Investments)                           
  86,471      

Alupar Investimento SA, (2)

             551,991  
  2,071,648      

AusNet Services, (2)

             2,571,943  
  44,081      

Brookfield Infrastructure Partners LP

             1,590,443  
  354,485      

Contact Energy Limited, (2)

             1,247,857  
  35,467      

EDP – Energias de Portugal, S.A., (2)

             109,647  
  77,635      

Endesa S.A, (2), (3)

             1,651,246  
  7,615      

Entergy Corporation

             583,766  
  3,002      

Hafslund ASA, Class B Shares

             33,123  
  1,117,650      

Infratil Limited

             2,322,551  
  220,338      

Scottish and Southern Energy PLC, (2)

             4,209,848  
  42,226      

Southern Company

             2,145,925  
  3,592,923      

Spark Infrastructure Group, (2)

             6,394,912  
  194,810        

Transmissora Alianca de Energia Eletrica SA, (2)

                               1,377,050  
   

Total Electric Utilities

                               24,790,302  
          Equity Real Estate Investment Trusts – 22.5% (15.9% of Total Investments)                       
  233,202      

AEW UK REIT PLC

             285,028  
  174,147      

American Hotel Income Properties REIT LP

             1,393,753  
  93,658      

Armada Hoffler Properties Inc.

             1,306,529  
  457,199      

Ascendas Real Estate Investment Trust, (2)

             815,018  
  153,212      

Automotive Properties Real Estate Investment Trust

             1,236,585  
  37,807      

Care Capital Properties, Inc.

             993,946  
  3,604      

CareTrust REIT Inc.

             56,871  
  116,170      

Charter Hall Retail REIT, (2)

             382,077  
  62,487      

Choice Properties Real Estate Investment Trust

             666,647  
  184,588      

City Office REIT, Inc.

             2,405,182  
  2,408      

Cofinimmo, SANV, (2)

             267,204  
  66,522      

Community Healthcare Trust Inc.

             1,582,558  
  23,730      

Crombie Real Estate Investment Trust

             246,197  
  179,610      

Dream Global Real Estate Investment Trust

             1,334,702  
  43,856      

Easterly Government Properties, Inc.

             906,504  
  635,426      

Empiric Student Property PLC

             871,258  
  47,336      

Eurocommercial Properties NV, (2)

             1,675,889  
  1,296,740      

Fortune REIT, (2)

             1,454,711  
  53,966      

Franklin Street Properties Corporation

             668,639  
  1,795,377      

Frasers Centrepoint Trust, (2)

             2,563,105  
  4,024,970      

Frasers Logistics & Industrial Trust, (2)

             2,798,942  
  90,877      

Gaming and Leisure Properties Inc.

             2,908,064  

 

NUVEEN     1  


DRA    Diversified Real Asset Income Fund   
   Portfolio of Investments (continued)    February 28, 2017 (Unaudited)

 

Shares          Description (1)                           Value  
          Equity Real Estate Investment Trusts (continued)                       
  39,013      

Granite Real Estate, Inc.

           $ 1,351,150  
  15,196      

Hersha Hospitality Trust

             296,474  
  51,644      

Hospitality Properties Trust

             1,641,246  
  10,845      

ICADE, (2)

             773,346  
  169,983      

Immobiliare Grande Distribuzione SIIQ SpA

             133,259  
  122,605      

Independence Realty Trust

             1,126,740  
  1,194,973      

Keppel DC REIT, (2)

             1,005,868  
  66,303      

Killam Apartment Real Estate I

             632,979  
  10,472      

Liberty Property Trust

             413,016  
  22,669      

LTC Properties Inc.

             1,093,553  
  1,273,021      

Mapletree Commercial Trust

             1,362,589  
  1,921,682      

Mapletree Greater China Commercial Trust, (2)

             1,350,195  
  231,906      

Mapletree Logistics Trust, (2)

             177,842  
  178,539      

MedEquities Realty Trust, Inc.

             1,947,861  
  26,022      

Medical Properties Trust Inc.

             349,215  
  29,648      

Mercialys, (2)

             535,478  
  71,957      

MGM Growth Properties LLC

             1,829,147  
  59,743      

New Senior Investment Group Inc.

             633,276  
  323,862      

NorthWest Healthcare Properties REIT

             2,487,120  
  85,896      

OneREIT

             238,636  
  54,060      

Park Hotels & Resorts, Inc.

             1,380,692  
  1,047,393      

Parkway Life Real Estate Investment Trust

             1,816,159  
  390,075      

Plaza Retail REIT

             1,477,245  
  469,889      

Propertylink Group, (2)

             293,313  
  369,497      

Pure Industrial Real Estate Trust

             1,663,599  
  40,185      

RioCan Real Estate Investment Trust

             807,210  
  2,712      

RLJ Lodging Trust

             61,725  
  84,896      

Senior Housing Properties Trust

             1,740,368  
  63,843      

Slate Retail REIT

             691,208  
  37,913      

Smart Real Estate Investment Trust

             954,248  
  361,695      

Spirit Realty Capital Inc.

             3,975,028  
  140,515      

STAG Industrial Inc.

             3,629,502  
  750,288      

TF Administradora Industrial S de RL de CV

             1,109,104  
  7,732      

Universal Health Realty Income Trust

             496,240  
  5,144      

Urstadt Biddle Properties Inc.

             114,608  
  4,102      

Ventas Inc.

             266,835  
  199,128      

VEREIT, Inc.

             1,806,091  
  1,000,075      

Vicinity Centres, (2)

             2,214,805  
  229,340      

Viva Energy REIT, (2)

             421,876  
  142,748      

Washington Prime Group, Inc.

             1,323,274  
  49,800      

Wereldhave NV, (2)

             2,175,582  
  131,397        

WPT Industrial Real Estate Investment Trust

                               1,681,882  
   

Total Equity Real Estate Investment Trusts

                               76,298,993  
          Gas Utilities – 0.2% (0.1% of Total Investments)                           
  8,298      

AmeriGas Partners, LP

             389,757  
  18,833        

APA Group, (2)

                               122,124  
   

Total Gas Utilities

                               511,881  
          Health Care Providers & Services – 0.4% (0.3% of Total Investments)                       
  99,583        

Sienna Senior Living Inc., Subscription

                               1,306,080  
          Household Durables – 0.3% (0.2% of Total Investments)                           
  24,406        

Kaufman and Broad SA

                               917,878  
          Independent Power & Renewable Electricity Producers – 2.2% (1.6% of Total Investments)                
  8,567      

Brookfield Renewable Energy Partners LP

             249,557  
  117,408      

Brookfield Renewable Energy Partners LP

             3,447,457  
  15,991      

Pattern Energy Group Inc.

             332,453  
  297,779      

Renewables Infrastructure Group Limited

             396,103  
  317,803      

Saeta Yield S.A, (2), (3)

             2,775,529  

 

  2     NUVEEN


Shares          Description (1)                           Value  
          Independent Power & Renewable Electricity Producers (continued)                
  33,586        

TransAlta Renewables Inc.

                             $ 375,004  
   

Total Independent Power & Renewable Electricity Producers

                               7,576,103  
          Media – 0.6% (0.4% of Total Investments)                           
  45,561      

Eutelsat Communications, (2)

             896,527  
  48,838        

SES SA, (2)

                               997,294  
   

Total Media

                               1,893,821  
          Mortgage Real Estate Investment Trusts – 1.9% (1.3% of Total Investments)                       
  80,516      

Apollo Commercial Real Estate Finance, Inc.

             1,480,689  
  12,342      

Ares Commercial Real Estate Corporation

             166,864  
  53,057      

Blackstone Mortgage Trust Inc, Class A

             1,652,195  
  29,233      

Ladder Capital Corporation

             421,832  
  120,866        

Starwood Property Trust Inc.

                               2,762,997  
   

Total Mortgage Real Estate Investment Trusts

                               6,484,577  
          Multi-Utilities – 5.9% (4.2% of Total Investments)                           
  10,974      

CenterPoint Energy, Inc.

             299,810  
  1,040,344      

Centrica PLC, (2)

             2,930,636  
  942,957      

Duet Group, (2)

             1,986,488  
  73,314      

Engie, (2)

             897,018  
  14,342      

Innogy SE

             515,073  
  12,092,177      

Keppel Infrastructure Trust

             4,271,177  
  67,490      

National Grid PLC, Sponsored ADR

             4,106,767  
  503,789      

Redes Energeticas Nacionais SA, (2)

             1,402,360  
  1,430,593      

Vector Limited, (2)

             3,368,895  
  9,981        

Veolia Environment S.A., (2)

                               163,568  
   

Total Multi-Utilities

                               19,941,792  
          Oil, Gas & Consumable Fuels – 8.8% (6.3% of Total Investments)                       
  11,924      

AltaGas Limited

             278,305  
  1,833      

Cheniere Energy Partners LP Holdings LLC

             60,049  
  3,166      

DCP Midstream LP

             124,107  
  26,057      

Enagas, (2)

             639,286  
  6,386      

Enbridge Energy Partners LP

             115,587  
  37,064      

Enbridge Income Fund Holdings Inc.

             952,971  
  185,005      

Enterprise Products Partnership LP

             5,185,690  
  85,806      

Inter Pipeline Limited

             1,799,200  
  16,884      

OneOK Partners Limited Partnership

             884,384  
  28,162      

Pembina Pipeline Corporation

             910,038  
  161,290      

Plains All American Pipeline LP

             5,174,183  
  142,040      

Plains GP Holdings LP, Class A Shares

             4,668,855  
  40,200      

Snam Rete Gas S.p.A, (2)

             160,082  
  115,615      

Targa Resources Corporation

             6,532,245  
  188,471      

Veresen Inc.

             1,918,482  
  13,338        

Williams Partners LP

                               537,521  
   

Total Oil, Gas & Consumable Fuels

                               29,940,985  
          Real Estate Management & Development – 0.5% (0.4% of Total Investments)                       
  93,318      

Atrium European Real Estate Ltd, (2)

             380,739  
  25,859      

Brookfield Property Partners

             586,999  
  236,230      

Citycon Oyj, (2)

             560,100  
  18,160        

Landmark Infrastructure Partners LP

                               277,848  
   

Total Real Estate Management & Development

                               1,805,686  
          Road & Rail – 0.4% (0.3% of Total Investments)                           
  329,540      

Aurizon Holdings Limited, (2)

             1,293,001  
  85,089        

Stagocoach Group PLC, (2)

                               219,167  
   

Total Road & Rail

                               1,512,168  

 

NUVEEN     3  


DRA    Diversified Real Asset Income Fund   
   Portfolio of Investments (continued)    February 28, 2017 (Unaudited)

 

Shares          Description (1)                           Value  
          Transportation Infrastructure – 4.1% (2.9% of Total Investments)                       
  313,044      

Abertis Infraestructuras S.A, (2)

           $ 4,586,308  
  5,054      

Cosco Shipping Ports Limited, (2)

             5,629  
  208,598      

Enav S.p.A, (2), (3)

             744,016  
  7,129,155      

Hopewell Highway Infrastructure Limited, (2)

             3,754,505  
  5,538,260      

Hutchison Port Holdings Trust, (2)

             2,103,298  
  86,306      

Jiangsu Expressway Company Limited, (2)

             113,852  
  5,671      

Macquarie Infrastructure Corporation

             436,327  
  5,974      

Sydney Airport, (2)

             27,751  
  208,065      

Transurban Group, (2)

             1,759,579  
  227,671        

Zhejiang Expressway Company Limited, (2)

                               256,054  
   

Total Transportation Infrastructure

                               13,787,319  
          Water Utilities – 0.3% (0.2% of Total Investments)                           
  645,269        

Inversiones Aguas Metropolitanas SA

                               962,562  
   

Total Common Stocks (cost $188,199,879)

                               196,128,911  
Shares          Description (1)   Coupon              Ratings (4)      Value  
   

CONVERTIBLE PREFERRED SECURITIES – 12.2% (8.6% of Total Investments)

 

        
          Electric Utilities – 4.4% (3.1% of Total Investments)                           
  45,883      

American Homes 4 Rent

    5.000%           N/R      $ 1,292,524  
  76,902      

Exelon Corporation

    6.500%           BB+        3,812,801  
  55,863      

Great Plains Energy Inc.

    7.000%           N/R        2,965,767  
  77,752      

NextEra Energy Inc.

    6.123%           BBB        4,067,985  
  44,605        

NextEra Energy Inc.

    6.371%                 BBB        2,722,689  
   

Total Electric Utilities

                               14,861,766  
          Equity Real Estate Investment Trusts – 2.8% (2.0% of Total Investments)                       
  25,884      

Alexandria Real Estate Equities Inc.

    7.000%           Baa3        907,493  
  38,251      

American Tower Corporation

    5.500%           N/R        4,134,551  
  19,717      

EPR Properties Inc.

    9.000%           BB        732,487  
  2,960      

EPR Properties Inc.

    5.750%           BB        90,221  
  20,328      

Equity Commonwealth

    6.500%           Ba1        513,282  
  1,147      

FelCor Lodging Trust Inc., Series A

    1.950%           Caa1        28,274  
  5,451      

Lexington Corporate Properties Trust, Series B

    6.500%           N/R        272,550  
  46,868        

Ramco-Gershenson Properties Trust

    7.250%                 N/R        2,730,998  
   

Total Equity Real Estate Investment Trusts

                               9,409,856  
          Gas Utilities – 0.5% (0.3% of Total Investments)                           
  27,204        

Spire, Inc., (2)

    6.750%                 N/R        1,571,303  
          Multi-Utilities – 3.1% (2.2% of Total Investments)                           
  12,196      

Black Hills Corp

    7.750%           N/R        871,282  
  98,566      

Dominion Resources Inc.

    6.750%           BBB–        5,017,009  
  34,541      

Dominion Resources Inc.

    6.375%           Baa3        1,765,045  
  55,398        

DTE Energy Company

    5.000%                 BBB–        2,991,492  
   

Total Multi-Utilities

                               10,644,828  
          Oil, Gas & Consumable Fuels – 1.4% (1.0% of Total Investments)                       
  29,408      

Anadarko Petroleum Corporation

    7.500%           N/R        1,283,659  
  71,087        

Kinder Morgan Inc, Delaware

    9.750%                 N/R        3,461,937  
   

Total Oil, Gas & Consumable Fuels

                               4,745,596  
   

Total Convertible Preferred Securities (cost $39,079,873)

                               41,233,349  

 

  4     NUVEEN


Shares          Description (1)   Coupon              Ratings (4)      Value  
   

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 29.9% (21.2% of Total Investments)

 

  
          Electric Utilities – 6.9% (4.9% of Total Investments)                           
  11,814      

APT Pipelines Limited

    6.300%           N/R      $ 945,362  
  99,450      

Brookfield Infrastructure Partners LP

    5.350%           BBB–        1,924,307  
  1,995      

Duke Energy Capital Trust II

    5.125%           BBB        50,753  
  102,513      

Entergy Arkansas Inc.

    4.875%           A        2,338,322  
  17,721      

Entergy Louisiana LLC

    4.875%           A        402,798  
  28,269      

Entergy New Orleans, Inc.

    5.500%           A        708,421  
  24,771      

Entergy Texas Inc.

    5.625%           A        663,615  
  85,992      

Integrys Energy Group Inc., (2)

    6.000%           Baa1        2,260,730  
  146,289      

NextEra Energy Inc.

    5.250%           BBB        3,486,067  
  55,582      

NextEra Energy Inc.

    5.000%           BBB        1,330,633  
  65,335      

Pacific Gas & Electric Corporation

    6.000%           A–        2,090,720  
  123,610      

PPL Capital Funding, Inc.

    5.900%           BBB        3,161,944  
  4,926      

SCE Trust II

    5.100%           Baa1        121,869  
  37,590      

SCE Trust I

    5.625%           Baa1        950,275  
  1,430      

Southern Company

    6.250%           BBB        38,109  
  123,985        

Southern Company

    5.250%                 BBB        2,962,002  
   

Total Electric Utilities

                               23,435,927  
          Equity Real Estate Investment Trusts – 17.2% (12.2% of Total Investments)                       
  35,172      

American Homes 4 Rent

    6.350%           N/R        889,852  
  39,253      

American Homes 4 Rent

    5.500%           N/R        1,095,159  
  39,423      

American Homes 4 Rent

    5.000%           N/R        1,111,729  
  49,617      

American Homes 4 Rent

    6.500%           N/R        1,277,142  
  121,519      

CBL & Associates Properties Inc.

    7.375%           BB        3,030,684  
  32,189      

CBL & Associates Properties Inc.

    6.625%           BB        800,862  
  183,565      

Cedar Shopping Centers Inc., Series A

    7.250%           N/R        4,488,164  
  39,923      

Chesapeake Lodging Trust

    7.750%           N/R        1,022,827  
  117,003      

City Office REIT, Inc.

    6.625%           N/R        2,934,435  
  9,155      

Colony Northstar, Inc.

    8.500%           N/R        234,460  
  26,575      

Colony Northstar, Inc.

    7.500%           N/R        661,717  
  92,593      

Colony Northstar, Inc.

    7.125%           N/R        2,304,640  
  10,009      

DDR Corporation

    6.250%           Baa3        251,426  
  1,156      

Digital Realty Trust Inc.

    6.350%           Baa3        30,518  
  18,054      

Equity Lifestyle Properties Inc.

    6.750%           N/R        460,557  
  52,751      

GGP, Inc.

    6.375%           N/R        1,360,448  
  34,296      

Gladstone Commercial Corporation

    7.000%           N/R        869,404  
  79,423      

Gramercy Property Trust

    7.125%           BB+        2,108,681  
  69,158      

Hersha Hospitality Trust

    6.875%           N/R        1,746,931  
  72,542      

Hersha Hospitality Trust

    6.500%           N/R        1,741,008  
  122,502      

Hersha Hospitality Trust

    6.500%           N/R        3,001,299  
  75,038      

Investors Real Estate Trust

    7.950%           N/R        1,918,722  
  7,026      

LaSalle Hotel Properties

    6.375%           N/R        177,407  
  84,807      

LaSalle Hotel Properties

    6.300%           N/R        2,094,733  
  3,992      

Mid-America Apartment Communities Inc.

    8.500%           BBB–        263,672  
  56,811      

Monmouth Real Estate Investment Corp

    6.125%           N/R        1,419,707  
  87,682      

Pebblebrook Hotel Trust

    6.500%           N/R        2,232,384  
  65,047      

Pebblebrook Hotel Trust

    6.375%           N/R        1,637,233  
  38,673      

Penn Real Estate Investment Trust

    7.200%           N/R        1,003,178  
  2,908      

PS Business Parks, Inc.

    6.000%           BBB        73,660  
  249      

PS Business Parks, Inc.

    5.750%           BBB        6,195  
  31,417      

Public Storage, Inc.

    5.750%           A3        788,881  
  287      

Rait Financial Trust

    7.125%           N/R        7,181  
  8,713      

Retail Properties of America

    7.000%           BB        220,439  
  270      

Rexford Industrial Realty Inc.

    5.875%           BB        6,488  
  22,828      

Senior Housing Properties Trust

    6.250%           BBB–        585,766  
  41,508      

STAG Industrial Inc.

    6.875%           BB+        1,105,773  
  37,962      

Summit Hotel Properties Inc.

    7.875%           N/R        968,790  
  123,744      

Summit Hotel Properties Inc.

    7.125%           N/R        3,228,481  
  43,997      

Summit Hotel Properties Inc.

    6.450%           N/R        1,076,607  
  82,768      

Sunstone Hotel Investors Inc.

    6.450%           N/R        2,075,821  
  21,724      

Taubman Centers Incorporated, Series K

    6.250%           N/R        546,141  

 

NUVEEN     5  


DRA    Diversified Real Asset Income Fund   
   Portfolio of Investments (continued)    February 28, 2017 (Unaudited)

 

Shares          Description (1)   Coupon              Ratings (4)      Value  
          Equity Real Estate Investment Trusts (continued)                       
  54,497      

UMH Properties Inc.

    8.000%           N/R      $ 1,452,345  
  51,095      

Urstadt Biddle Properties

    7.125%           N/R        1,308,032  
  77,598      

Urstadt Biddle Properties

    6.750%           N/R        1,998,149  
  2,021      

Vornado Realty Trust

    5.700%           BBB–        50,707  
  10,884      

Washington Prime Group, Inc.

    7.500%           Ba1        276,889  
  10,536        

Washington Prime Group, Inc.

    6.875%                 Ba1        268,457  
   

Total Equity Real Estate Investment Trusts

                               58,213,781  
          Independent Power & Renewable Electricity Producers – 0.2% (0.2% of Total Investments)                
  41,214        

Brookfield Renewable Partners, Preferred Equity

    5.750%                 BB+        801,194  
          Mortgage Real Estate Investment Trusts – 0.5% (0.4% of Total Investments)                       
  18,381      

Apollo Commercial Real Estate Finance

    8.625%           N/R        468,348  
  53,499        

Arbor Realty Trust Incorporated

    7.375%                 N/R        1,369,039  
   

Total Mortgage Real Estate Investment Trusts

                               1,837,387  
          Multi-Utilities – 3.3% (2.3% of Total Investments)                           
  218,328      

Dominion Resources Inc.

    5.250%           BBB–        5,139,441  
  97,288      

DTE Energy Company

    6.000%           Baa2        2,502,247  
  108,896      

DTE Energy Company

    5.375%           Baa2        2,633,105  
  33,492        

DTE Energy Company

    5.250%                 Baa2        826,583  
   

Total Multi-Utilities

                               11,101,376  
          Oil, Gas & Consumable Fuels – 1.3% (0.9% of Total Investments)                       
  108,221      

Nustar Energy LP

    8.500%           Ba3        2,900,323  
  69,459        

Pembina Pipeline Corporation

    5.750%                 BB+        1,385,310  
   

Total Oil, Gas & Consumable Fuels

                               4,285,633  
          Real Estate Management & Development – 0.2% (0.1% of Total Investments)                       
  27,662        

Landmark Infrastructure Partners LP

    8.000%                 N/R        695,699  
          Trading Companies & Distributors – 0.3% (0.2% of Total Investments)                       
  37,739        

GATX Corporation

    5.625%                 BBB        948,758  
   

Total $25 Par (or similar) Retail Preferred (cost $100,638,123)

 

              101,319,755  
Principal
Amount (000)
         Description (1)   Coupon      Maturity      Ratings (4)      Value  
   

CONVERTIBLE BONDS – 1.0% (0.7% of Total Investments)

          
          Electric Utilities – 0.5% (0.3% of Total Investments)                           
$ 1,705        

DCP Midstream Operating LP, 144A

    5.850%        5/21/43        BB–      $ 1,594,175  
          Multi-Utilities – 0.5% (0.4% of Total Investments)                           
  1,670        

Dominion Resources Inc.

    5.750%        10/01/54        BBB–        1,749,325  
$ 3,375        

Total Convertible Bonds (cost $3,313,163)

                               3,343,500  
Principal
Amount (000) (5)
         Description (1)   Coupon      Maturity      Ratings (4)      Value  
   

CORPORATE BONDS – 19.9% (14.1% of Total Investments)

          
          Air Freight & Logistics – 0.2% (0.1% of Total Investments)                           
$ 575        

Empresa de Transporte de Pasajeros Metro SA, 144A

    5.000%        1/25/47        A+      $ 595,988  
          Commercial Services & Supplies – 1.5% (1.1% of Total Investments)                       
  1,550      

Advanced Disposal Services, Inc., 144A

    5.625%        11/15/24        B–        1,584,875  
  2,200      

Covanta Holding Corporation

    5.875%        3/01/24        Ba3        2,233,000  
  1,260        

GFL Environmental Corporation, 144A

    9.875%        2/01/21        B–        1,370,250  
   

Total Commercial Services & Supplies

                               5,188,125  

 

  6     NUVEEN


Principal
Amount (000) (5)
         Description (1)   Coupon      Maturity      Ratings (4)      Value  
          Construction & Engineering – 0.2% (0.2% of Total Investments)                
$ 790        

AECOM Technology Corporation, 144A

    5.125%        3/15/27        BB      $ 802,759  
          Consumer Finance – 0.1% (0.1% of Total Investments)                           
  330        

Covenant Surgical Partners Inc., 144A

    8.750%        8/01/19        B–        318,450  
          Diversified Financial Services – 0.4% (0.3% of Total Investments)                       
  1,285        

Stoneway Capital Corporation, 144A

    10.000%        3/01/27        B        1,297,850  
          Diversified Telecommunication Services – 1.2% (0.8% of Total Investments)                       
  1,830      

Qualitytech LP/QTS Finance Corp.

    5.875%        8/01/22        BB        1,900,913  
  2,035        

SBA Communications Corporation, 144A

    4.875%        9/01/24        B+        2,024,621  
   

Total Diversified Telecommunication Services

                               3,925,534  
          Electric Utilities – 0.2% (0.1% of Total Investments)                           
  575        

Intergen NV, 144A

    7.000%        6/30/23        B1        523,250  
          Energy Equipment & Services – 0.5% (0.4% of Total Investments)                       
  1,515     EUR  

Origin Energy Finance Limited, Reg S

    7.875%        6/16/71        BB        1,717,219  
          Equity Real Estate Investment Trusts – 2.8% (2.0% of Total Investments)                       
  1,705      

Care Capital Properties, Inc.

    5.125%        8/15/26        BBB–        1,669,062  
  1,260      

CBL & Associates LP

    5.950%        12/15/26        BBB–        1,256,811  
  720      

CoreCivic, Inc.

    4.625%        5/01/23        Ba1        721,800  
  905      

DuPont Fabros Technology LP

    5.625%        6/15/23        BB+        942,331  
  1,540      

Geo Group Inc.

    6.000%        4/15/26        B+        1,603,140  
  965      

MPT Operating Partnership Finance

    5.250%        8/01/26        BBB–        974,650  
  985      

Omega Healthcare Investors Inc.

    4.500%        4/01/27        BBB–        978,350  
  745      

PLA Administradora Industrial, S. de R.L. de C.V., 144A

    5.250%        11/10/22        Baa3        736,060  
  645        

Trust F/1401, 144A

    5.250%        1/30/26        Baa2        640,162  
   

Total Equity Real Estate Investment Trusts

                               9,522,366  
          Gas Utilities – 1.5% (1.1% of Total Investments)                           
  1,115      

AmeriGas Partners LP/AmeriGas Finance Corporation

    5.875%        8/20/26        BB        1,151,238  
  1,525      

Ferrellgas LP

    6.750%        1/15/22        B        1,479,250  
  965      

LBC Tank Terminals Holdings Netherlands BV, 144A

    6.875%        5/15/23        B        1,003,600  
  780      

Suburban Propane Partners LP

    5.750%        3/01/25        BB–        787,800  
  680        

Suburban Propane Partners LP

    5.875%        3/01/27        BB–        681,700  
   

Total Gas Utilities

                               5,103,588  
          Health Care Equipment & Supplies – 0.2% (0.2% of Total Investments)                       
  680        

Tenet Healthcare Corporation

    8.125%        4/01/22        B–        714,000  
          Health Care Providers & Services – 1.0% (0.7% of Total Investments)                       
  710      

Acadia Healthcare

    5.625%        2/15/23        B        738,400  
  575      

Community Health Systems, Inc.

    6.875%        2/01/22        CCC+        505,281  
  755      

IASIS Healthcare Capital Corporation

    8.375%        5/15/19        CCC+        738,012  
  725      

Kindred Healthcare Inc.

    6.375%        4/15/22        B–        669,719  
  405      

Lifepoint Health Inc.

    5.875%        12/01/23        Ba2        416,137  
  435        

Select Medical Corporation

    6.375%        6/01/21        B–        437,719  
   

Total Health Care Providers & Services

                               3,505,268  
          Hotels, Restaurants & Leisure – 0.3% (0.2% of Total Investments)                       
  1,195        

MGM Growth Properties Operating Partnership LP / MGP Escrow Co-Issuer, Inc., 144A

    4.500%        9/01/26        BB–        1,162,137  
          Independent Power & Renewable Electricity Producers – 0.4% (0.3% of Total Investments)                
  1,125      

Dynegy Inc., 144A

    8.000%        1/15/25        B+        1,068,750  
  470        

GenOn Energy Inc.

    9.500%        10/15/18        CCC        359,550  
   

Total Independent Power & Renewable Electricity Producers

                               1,428,300  

 

NUVEEN     7  


DRA    Diversified Real Asset Income Fund   
   Portfolio of Investments (continued)    February 28, 2017 (Unaudited)

 

Principal
Amount (000) (5)
         Description (1)   Coupon      Maturity      Ratings (4)      Value  
          Internet Software & Services – 0.2% (0.1% of Total Investments)                       
$ 495        

Equinix Inc.

    5.750%        1/01/25        BB+      $ 524,700  
          IT Services – 0.4% (0.3% of Total Investments)                           
  680      

Zayo Group LLC / Zayo Capital Inc.

    6.000%        4/01/23        B        719,100  
  530        

Zayo Group LLC / Zayo Capital Inc., 144A

    5.750%        1/15/27        B        560,369  
   

Total IT Services

                               1,279,469  
          Marine – 0.2% (0.1% of Total Investments)                           
  605        

Navios South American Logistics Inc., Finance US Inc., 144A

    7.250%        5/01/22        B–        574,750  
          Multi-Utilities – 1.4% (1.0% of Total Investments)                           
  1,605     GBP  

Centrica PLC, Reg S

    5.250%        4/10/75        BBB        2,116,826  
  2,000     GBP  

RWE AG, Reg S

    7.000%        3/29/49        BB+        2,634,325  
   

Total Multi-Utilities

                               4,751,151  
          Oil, Gas & Consumable Fuels – 4.3% (3.0% of Total Investments)                       
  390      

Blue Racer Midstream LLC / Blue Racer Finance Corporation, 144A

    6.125%        11/15/22        B–        396,825  
  215      

Calumet Specialty Products

    6.500%        4/15/21        CCC+        186,573  
  1,420      

Calumet Specialty Products

    7.625%        1/15/22        CCC+        1,228,300  
  1,385      

Cheniere Corpus Christi Holdings, LLC, 144A

    5.875%        3/31/25        BB–        1,466,369  
  540      

Crestwood Midstream Partners LP

    6.125%        3/01/22        BB–        558,225  
  1,425      

Energy Transfer Equity LP

    5.500%        6/01/27        BB+        1,508,719  
  1,465      

Genesis Energy LP

    5.625%        6/15/24        B+        1,461,337  
  715      

Gibson Energy, 144A

    6.750%        7/15/21        BB        741,813  
  680      

Global Partners LP/GLP Finance

    6.250%        7/15/22        B+        666,400  
  335      

Global Partners LP/GLP Finance

    7.000%        6/15/23        B+        333,325  
  1,130      

Martin Mid-Stream Partners LP Finance

    7.250%        2/15/21        B–        1,148,363  
  1,065      

NGL Energy Partners LP/Fin Co, 144A

    7.500%        11/01/23        BB–        1,120,912  
  1,580      

PBF Holding Company LLC

    7.000%        11/15/23        BBB–        1,587,900  
  1,085      

Rose Rock Midstream LP / Rose Rock Finance Corporation

    5.625%        7/15/22        B+        1,066,013  
  830      

Summit Midstream Holdings LLC Finance

    5.500%        8/15/22        B+        840,375  
  150        

Tesoro Logistics LP Finance Corporation

    5.250%        1/15/25        BBB–        158,062  
   

Total Oil, Gas & Consumable Fuels

                               14,469,511  
          Real Estate Management & Development – 0.9% (0.6% of Total Investments)                       
  1,505      

Hunt Companies Inc., 144A

    9.625%        3/01/21        N/R        1,587,775  
  1,355        

Kennedy-Wilson Holdings Incorporated

    5.875%        4/01/24        BB–        1,422,750  
   

Total Real Estate Management & Development

                               3,010,525  
          Road & Rail – 0.2% (0.2% of Total Investments)                           
  795        

Watco Companies LLC Finance, 144A

    6.375%        4/01/23        B–        832,763  
          Software – 0.3% (0.2% of Total Investments)                           
  1,025        

SixSigma Networks Mexico SA de CV, 144A

    8.250%        11/07/21        B+        999,375  
          Transportation Infrastructure – 0.9% (0.6% of Total Investments)                       
  840      

Aeropuertos Argentina 2000 SA, 144A

    6.875%        2/01/27        B2        869,568  
  295      

Aeropuertos Dominicanos SA, 144A

    6.750%        3/30/29        BB–        307,906  
  675      

Mexico City Airport Trust, 144A

    4.250%        10/31/26        BBB+        676,154  
  1,190        

Rumo Luxembourg Sarl, 144A

    7.375%        2/09/24        BB–        1,222,725  
   

Total Transportation Infrastructure

                               3,076,353  
          Wireless Telecommunication Services – 0.6% (0.4% of Total Investments)                       
  1,995        

Inmarsat Finance PLC, 144A

    6.500%        10/01/24        BB+        2,059,838  
   

Total Corporate Bonds (cost $66,453,400)

                               67,383,269  

 

  8     NUVEEN


Principal
Amount (000) (5)
         Description (1)   Coupon      Maturity      Ratings (4)      Value  
   

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 12.1% (8.6% of Total Investments)

 

     
          Diversified Financial Services – 0.3% (0.2% of Total Investments)                       
$ 810        

National Rural Utilities Cooperative Finance Corporation

    5.250%        4/20/46        A3      $ 847,832  
          Electric Utilities – 4.9% (3.5% of Total Investments)                           
  1,435      

AES Gener SA, 144A

    8.375%        12/18/73        BB        1,530,069  
  6,710      

Emera, Inc.

    6.750%        6/15/76        BBB–        7,347,447  
  2,035      

Enel SpA, 144A

    8.750%        9/24/73        BBB–        2,345,338  
  1,000     EUR  

Energias de Portugal, SA, Reg S

    5.375%        9/16/75        Ba2        1,119,224  
  1,445      

Exelon Corporation

    6.350%        3/15/33        Baa2        1,534,410  
  2,075     GBP  

NGG Finance PLC, Reg S

    5.625%        6/18/73        BBB        2,838,678  
   

Total Electric Utilities

                               16,715,166  
          Energy Equipment & Services – 5.6% (4.0% of Total Investments)                       
  5,070      

Transcanada Trust

    5.625%        5/20/75        BBB        5,277,870  
  3,935      

Transcanada Trust

    5.875%        8/15/76        BBB        4,212,418  
  9,520        

Transcanada Trust

    5.300%        3/15/77        BBB        9,615,200  
   

Total Energy Equipment & Services

                               19,105,488  
          Oil, Gas & Consumable Fuels – 1.3% (0.9% of Total Investments)                       
  3,732      

Enbridge Inc.

    6.000%        1/15/77        BBB–        3,787,980  
  605        

Enterprise Products Operating LP

    7.034%        1/15/68        Baa2        624,360  
   

Total Oil, Gas & Consumable Fuels

                               4,412,340  
   

Total $1,000 Par (or similar) Institutional Preferred (cost $39,696,186)

 

                       41,080,826  
Principal
Amount (000)
         Description (1)   Interest
Rate (12)
     Maturity (12)              Value  
   

WHOLE LOANS – 5.6% (4.0% of Total Investments) (6), (7), (8)

 

        
          Commercial Loans – 3.3% (2.4% of Total Investments)                           
$ 2,186      

150 North Pantano I, AZ

    5.925%        8/01/19         $ 2,037,157  
  13,980      

NCH Commercial Pool II, Rocky Point, Mexico, (9), (11)

    11.925%        8/01/14           3,689,323  
  4,523      

RealtiCorp Fund III, Crystal River, FL,, (9), (10)

    11.925%        7/01/17           4,057,088  
  1,927        

RL Stowe Portfolio, Belmont, NC, and Chattanooga, TN

    4.900%        1/01/20                 1,566,646  
  22,616        

Total Commercial Loans

                               11,350,214  
          Multifamily Loans – 2.3% (1.6% of Total Investments)                           
  4,392      

NCH Multifamily Pool II, Rocky Point, Mexico, (9), (11)

    11.925%        8/01/14           2,460,120  
  4,879      

NCH Multifamily Pool, Oklahoma City, OK,, (9), (11)

    1.925%        8/01/14           30,668  
  12,129        

Sapphire Skies I, Cle Elum, WA, (9), (13)

    3.925%        3/01/20                 5,301,448  
  21,400        

Total Multifamily Loans

                               7,792,236  
$ 44,016        

Total Whole Loans (cost $42,803,395)

                               19,142,450  
Shares          Description (1), (14)                           Value  
   

INVESTMENT COMPANIES – 1.0% (0.7% of Total Investments)

 

        
          Diversified Other – 1.0% (0.7% of Total Investments)                
  1,152,507      

John Laing Infrastructure Fund

           $ 1,969,232  
  463,616      

NextEnergy Solar Fund Limited

             637,120  
  707,391        

Starwood European Real Estate Finance Limited

                               947,988  
   

Total Diversified Other

                               3,554,340  
   

Total Investment Companies (cost $3,639,874)

                               3,554,340  
   

Total Long-Term Investments (cost $483,823,893)

                               473,186,400  

 

NUVEEN     9  


DRA    Diversified Real Asset Income Fund   
   Portfolio of Investments (continued)    February 28, 2017 (Unaudited)

 

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

SHORT-TERM INVESTMENTS – 1.5% (1.1% of Total Investments)

 

        
          REPURCHASE AGREEMENTS – 1.5% (1.1% of Total Investments)                       
$ 5,152        

Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/17, repurchase price $5,152,350, collateralized by $4,685,000 U.S. Treasury Bonds,
3.625%, due 2/15/44, value $5,256,036

    0.030%        3/01/17               $ 5,152,346  
   

Total Short-Term Investments (cost $5,152,346)

                               5,152,346  
   

Total Investments (cost $488,976,239) – 141.0%

                               478,338,746  
   

Borrowings – (40.5)% (15), (16)

                               (137,500,000
   

Other Assets Less Liabilities – (0.5)% (17)

                               (1,740,340
   

Net Assets – 100%

                             $ 339,098,406  

Investments in Derivatives as of February 28, 2017

Futures Contracts

 

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

U.S. Treasury 5-Year Note

     Short        (100        6/17        $ (11,770,313      $ 8,594        $ 4,309  

Total Return Swaps

 

Counterparty   Receive   Pay     Expiration
Date
    Notional
Amount
    Unrealized
Appreciation
(Depreciation)
 

Morgan Stanley Capital Services LLC

  iSHR DJ Real Estate ETF     3-Month USD-LIBOR-ICE       6/06/17     $ 2,113,590     $ 152,711  

Morgan Stanley Capital Services LLC

  Vanguard Global Ex-U.S. REIT ETF     3-Month USD-LIBOR-ICE       6/06/17       2,124,619       (27,961

Morgan Stanley Capital Services LLC

  iShares iBoxx $ High Yield Corporate Bond ETF     3-Month USD-LIBOR-ICE       6/06/17       3,614,325       164,636  

Morgan Stanley Capital Services LLC

  iShares Global Infrastructure ETF     3-Month USD-LIBOR-ICE       6/06/17       5,407,852       165,576  

Morgan Stanley Capital Services LLC

  iShares S&P® Preferred Stock Index ETF     3-Month USD-LIBOR-ICE       6/06/17       6,646,130       (38,813
                        $ 19,906,516     $ 416,149  

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).

 

  10     NUVEEN


The inputs or methodologies used for valuing securities are not an indication of the risk 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

   $ 121,453,988      $ 74,674,923      $      $ 196,128,911  

Convertible Preferred Securities

     39,662,046        1,571,303               41,233,349  

$25 Par (or similar) Retail Preferred

     99,059,025        2,260,730               101,319,755  

Convertible Bonds

            3,343,500               3,343,500  

Corporate Bonds

            67,383,269               67,383,269  

$1,000 Par (or similar) Institutional Preferred

            41,080,826               41,080,826  

Whole Loans

                   19,142,450        19,142,450  

Investment Companies

     3,554,340                      3,554,340  

Short-Term Investments:

           

Repurchase Agreements

            5,152,346               5,152,346  

Investments in Derivatives

           

Futures Contracts*

     4,309                      4,309  

Total Return Swaps*

            416,149               416,149  

Total

   $ 263,733,708      $ 195,883,046      $ 19,142,450      $ 478,759,204  
* Represents net unrealized appreciation (depreciation).

The following is a reconciliation of the Fund’s Level 3 investments held at the beginning and end of the measurement period:

 

     Level 3  
      Whole
Loans
     Corporate
Notes
     Total  

Balance at the beginning of period

   $ 35,794,041      $ 8,000,000      $ 43,794,041  

Gains (losses):

        

Net realized gains (losses)

     (5,026,232             (5,026,232

Change in net unrealized appreciation (depreciation)

     (1,075,974             (1,075,974

Purchases at cost

     7,296               7,296  

Sales at proceeds

     (10,879,891      (8,000,000      (18,879,891

Net discounts (premiums)

     323,210               323,210  

Transfers into

                    

Transfers (out of)

                    

Balance at the end of period

   $  19,142,450      $      $  19,142,450  

The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements of assets as of the end of the reporting period, were as follows:

 

      Market Value      Techniques    Unobservable Inputs    Range  
Commercial & Multifamily Whole Loans    $   5,654,401      Discounted Cash Flow    Yield Spread      2.56% - 2.68
      Discounted Cash Flow    Liquidity Spread      0.50
      Discounted Cash Flow    Debt Service Coverage Ratio      0.00% - 1.63
     11,450,892      Appraisals    N/A      N/A  
     2,037,157      Expected Value    N/A      N/A  
Commercial & Multifamily Whole Loans and Corporate Notes           Price Ceiling    Cap      100.00  
Total    $ 19,142,450                     

The table below presents the transfers in and out of the three valuation levels for the Fund as of the end of the reporting period when compared to the valuation levels as of the end of the previous fiscal year. Changes in valuation inputs or methodologies may result in transfers into or out of an assigned

 

NUVEEN     11  


DRA    Diversified Real Asset Income Fund   
   Portfolio of Investments (continued)    February 28, 2017 (Unaudited)

 

level within the fair value hierarchy. Transfers in or out of levels are generally due to the availability of publicly available information and to the significance or extent the Adviser determines that the valuation inputs or methodologies may impact the valuation of those securities.

 

       Level 1      Level 2      Level 3  
        Transfers In      (Transfers Out)      Transfers In      (Transfers Out)      Transfers In      (Transfers Out)  

Common Stocks

     $   —      $ (56,496,469    $ 56,496,469      $   —      $   —      $   —  

Convertible Preferred Securities

       907,493          —          —        (907,493        —          —  

$25 Par (or similar) Retail Preferred

       3,578,467                      (3,578,467              

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. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

As of February 28, 2017, the cost of investments (excluding investments in derivatives) was $497,438,552.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of February 28, 2017, were as follows:

 

Gross unrealized:

          

Appreciation

     $ 21,411,389  

Depreciation

       (40,511,195

Net unrealized appreciation (depreciation) of investments

     $ (19,099,806

 

  12     NUVEEN


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 in to sectors for reporting ease.

 

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

 

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

 

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

 

(4) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. 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.

 

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

 

(6) Interest rates on whole loans and corporate notes are the net coupon rates in effect (after reducing the coupon rate by any mortgage servicing fees paid to mortgage servicers) as of the end of the reporting period.

 

(7) Securities purchased as part of a private placement, which have not been registered with U.S. Securities and Exchange Commission under the Securities Act of 1933 and which are considered to be illiquid.

 

(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 unless otherwise noted.

 

(9) Interest only – Represents securities that entitle holders to receive only interest payments on the mortgage. Principal balance on the loan is due at maturity. The interest rate disclosed represents the net coupon rate in effect as of the end of the reporting period.

 

(10) As of, 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.

 

(11) Loan is currently in default with regards to scheduled interest and/or principal payments.

 

(12) Represents the interest rate, coupon and maturity in effect as of the end of the reporting period.

 

(13) The interest rate will increase to 2.000% on March 1, 2017.

 

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

 

(15) 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.

 

(16) Borrowings as a percentage of Total Investments is 28.7%.

 

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

 

EUR Euro

 

GBP Pound Sterling

 

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.

 

REIT Real Estate Investment Trust

 

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

 

NUVEEN     13  


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)    Diversified Real Asset Income Fund   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                               
  

Gifford R. Zimmerman

  
   Vice President and Secretary   

Date: April 28, 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: April 28, 2017      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: April 28, 2017