N-Q 1 d712333dnq.htm NUVEEN INVESTMENT FUNDS, INC. Nuveen Investment Funds, Inc.

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 811-05309

Nuveen Investment Funds, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Kevin J. McCarthy—Vice President and Secretary

333 West Wacker Drive, Chicago, Illinois 60606

(Name and address of agent for service)

Registrant’s telephone number, including area code: 312-917-7700

Date of fiscal year end: June 30

Date of reporting period: March 31, 2014

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.


Nuveen High Income Bond Fund

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)                  Value  
 

LONG-TERM INVESTMENTS – 97.1%

       
 

COMMON STOCKS – 1.7%

       
 

Airlines – 0.1%

       
  55,200     

Delta Air Lines, Inc.

              $ 1,912,680   
 

Building Products – 0.0%

       
  527     

Dayton Superior, Class A, (2), (3)

          30,195   
  585     

Dayton Superior, Class 1, (2), (3)

                33,550   
 

Total Building Products

                63,745   
 

Capital Markets – 0.2%

       
  52,412     

Adamas Finance Asia Limited, (2)

          4,193   
  21,000     

BlackRock Kelso Capital Corporation

          192,570   
  72,000     

Och-Ziff Capital Management Group, Class A Shares

          991,440   
  62,000     

Prospect Capital Corporation

          669,600   
  48,000     

Technology Investment Capital Corporation

                469,440   
 

Total Capital Markets

                2,327,243   
 

Chemicals – 0.2%

       
  21,000     

LyondellBasell Industries NV

                1,867,740   
 

Containers & Packaging – 0.2%

       
  20,400     

Packaging Corp. of America

                1,435,548   
 

Media – 0.1%

       
  46,000     

Cablevision Systems Corporation, (4)

                776,020   
 

Metals & Mining – 0.1%

       
  21,200     

Freeport-McMoRan Copper & Gold, Inc.

          701,084   
  499,059     

Northland Resources SA, (2)

                203,364   
 

Total Metals & Mining

                904,448   
 

Multiline Retail – 0.0%

       
  7,000     

Target Corporation

                423,570   
 

Oil, Gas & Consumable Fuels – 0.2%

       
  11,000     

Bonanza Creek Energy Inc., (2)

          488,400   
  14,500     

Pembina Pipeline Corporation

          552,160   
  82,000     

Pengrowth Energy Corporation

                498,560   
 

Total Oil, Gas & Consumable Fuels

                1,539,120   
 

Real Estate Investment Trust – 0.4%

       
  15,500     

Camden Property Trust

          1,043,770   
  46,700     

Colony Financial Inc.

          1,025,065   
  22,400     

Mid-America Apartment Communities

                1,529,248   
 

Total Real Estate Investment Trust

                3,598,083   

 

Nuveen Investments     1   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)                        Value  
 

Road & Rail – 0.2%

       
  15,100     

Norfolk Southern Corporation, (4)

                          $ 1,467,267   
 

Total Common Stocks (cost $13,361,896)

                            16,315,464   
Shares     Description (1), (5)                        Value  
 

EXCHANGE-TRADED FUNDS – 0.9%

       
  310,000     

PowerShares Senior Loan Portfolio

        $ 7,691,100   
  17,000     

Vanguard FTSE Europe ETF

                            1,002,150   
 

Total Exchange-Traded Funds (cost $8,665,863)

                            8,693,250   
Shares     Description (1)   Coupon            Ratings (6)     Value  
 

CONVERTIBLE PREFERRED SECURITIES – 0.4%

       
 

Electric Utilities – 0.3%

       
  40,000     

NextEra Energy Inc.

    5.889             BBB      $ 2,453,200   
 

Metals & Mining – 0.1%

       
  45,300     

ArcelorMittal

    6.000             BB–        1,086,294   
 

Total Convertible Preferred Securities (cost $3,065,076)

                            3,539,494   
Principal
Amount (000)
    Description (1)   Coupon     Maturity (7)     Ratings (6)     Value  
 

VARIABLE RATE SENIOR LOAN INTERESTS – 2.1% (8)

       
 

Hotels, Restaurants & Leisure – 0.4%

       
$ 2,000     

Caesars Entertainment Corporation, Term Loan B5

    4.489     1/29/18        B–      $ 1,866,563   
  1,990     

Rock Ohio Caesar LLC, Term Loan B

    5.000     3/29/19        BB–        1,947,712   
  3,990     

Total Hotels, Restaurants & Leisure

                            3,814,275   
 

Independent Power & Renewable Electricity Producers – 0.2%

       
  130     

Empire Generating Company LLC, Term Loan C, (WI/DD)

    TBD        TBD        B+        130,870   
  1,870     

Empire Generating Company LLC, (WI/DD)

    TBD        TBD        B+        1,875,796   
  2,000     

Total Independent Power & Renewable Electricity Producers

                            2,006,666   
 

Industrial Conglomerates – 0.3%

       
  2,500     

Atkore International Inc., Second Lien Term Loan, (WI/DD)

    TBD        TBD        CCC+        2,525,000   
 

Oil, Gas & Consumable Fuels – 0.6%

       
  1,990     

Arch Coal Inc., Term Loan B

    6.250     5/16/18        BB–        1,965,646   
  2,493     

Fieldwood Energy LLC, Second Lien Term Loan

    8.375     9/30/20        B2        2,599,214   
  1,000     

Samson Investment Company Second Lien Term Loan

    5.000     9/25/18        B1        1,010,375   
  5,483     

Total Oil, Gas & Consumable Fuels

                            5,575,235   
 

Professional Services – 0.2%

       
  2,000     

Sedgwick Claims Management Service Inc., Second Lien Term Loan, DD1

    6.750     2/11/22        CCC+        1,996,250   

 

  2       Nuveen Investments


Principal
Amount (000)
    Description (1)   Coupon     Maturity (7)     Ratings (6)     Value  
 

Specialty Retail – 0.4%

       
$ 3,500     

The Men’s Warehouse Inc., (3), (WI/DD)

    TBD        TBD        Ba3      $ 3,500,000   
$ 19,473     

Total Variable Rate Senior Loan Interests (cost $19,164,694)

                            19,417,426   
Shares     Description (1)   Coupon            Ratings (6)     Value  
 

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 5.4%

       
 

Banks – 0.9%

       
  82,830     

Bank of America Corporation

    4.000       BB+      $ 1,713,753   
  40,000     

HSBC USA Inc.

    4.000       BBB+        914,800   
  89,536     

HSBC USA Inc.

    1.006       BBB+        1,925,024   
  110,000     

Regions Financial Corporation

    6.375       BB        2,652,100   
  35,000     

Royal Bank of Scotland Group PLC

    6.750             BB        826,000   
 

Total Banks

                            8,031,677   
 

Capital Markets – 0.8%

       
  122,330     

Morgan Stanley

    4.000       BB+        2,435,590   
  66,903     

Saratoga Investment Corporation, (9)

    7.500       N/R        1,684,618   
  169,434     

UBS Preferred Funding Trust IV

    0.854             BBB–        3,066,755   
 

Total Capital Markets

                            7,186,963   
 

Consumer Finance – 0.3%

       
  50,000     

Ally Financial Inc.

    8.500       B        1,367,500   
  50,000     

Discover Financial Services

    6.500             BB        1,226,500   
 

Total Consumer Finance

                            2,594,000   
 

Diversified Financial Services – 0.2%

       
  71,079     

RBS Capital Trust, (4)

    6.080             BB+        1,581,508   
 

Household Durables – 0.1%

       
  65,624     

Hovnanian Enterprises Incorporated, (2)

    7.625             Caa2        944,986   
 

Insurance – 0.1%

       
  51,131     

Endurance Specialty Holdings Limited

    7.500             BBB–        1,338,098   
 

Oil, Gas & Consumable Fuels – 0.1%

       
  50,000     

Teekay Offshore Partners LP

    7.250             N/R        1,272,000   
 

Real Estate Investment Trust – 2.7%

       
  51,900     

Ashford Hospitality Trust Inc.

    8.450       N/R        1,317,741   
  40,000     

CommomWealth REIT

    7.250       Ba1        1,006,800   
  75,000     

Coresite Realty Corporation

    7.250       N/R        1,856,250   
  50,000     

Corporate Office Properties Trust

    7.375       BB        1,272,000   
  65,000     

Dupont Fabros Technology

    7.875       Ba2        1,641,250   
  22,024     

First Potomac Realty Trust

    7.750       N/R        556,546   
  70,000     

General Growth Properties

    6.375       B        1,624,700   
  41,677     

Hersha Hospitality Trust

    8.000       N/R        1,062,764   

 

Nuveen Investments     3   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)   Coupon            Ratings (6)     Value  
 

Real Estate Investment Trust (continued)

       
  54,000     

Kite Realty Group Trust

    8.250       N/R      $ 1,388,340   
  70,000     

LaSalle Hotel Properties

    7.500       N/R        1,809,500   
  69,767     

Northstar Realty Finance Corporation

    8.500       N/R        1,736,501   
  50,000     

Pebblebrook Hotel Trust

    7.875       N/R        1,296,500   
  40,500     

Pebblebrook Hotel Trust

    6.500       N/R        903,960   
  50,000     

Realty Income Corporation

    6.625       Baa2        1,259,500   
  40,000     

Retail Properties of America

    7.000       N/R        988,000   
  40,000     

Summit Hotel Properties Inc.

    9.250       N/R        1,077,600   
  79,000     

Summit Hotel Properties Inc., (4), (9)

    7.125       N/R        1,824,900   
  90,302     

Ventas Realty LP

    5.450             BBB+        2,085,975   
 

Total Real Estate Investment Trust

                            24,708,827   
 

Specialty Retail – 0.2%

       
  88,000     

TravelCenters of America LLC

    8.250             N/R        2,302,960   
 

Total $25 Par (or similar) Retail Preferred (cost $47,874,507)

                            49,961,019   
Principal
Amount (000) (10)
    Description (1)   Coupon     Maturity     Ratings (6)     Value  
 

CORPORATE BONDS – 78.9%

       
 

Aerospace & Defense – 0.3%

       
$ 2,026     

Erickson Air-Crane Inc., 144A, (4)

    8.250     5/01/20        B1      $ 2,127,300   
  200     

Spirit AeroSystems Inc., 144A

    5.250     3/15/22        Ba3        201,000   
  2,226     

Total Aerospace & Defense

                            2,328,300   
 

Airlines – 0.5%

       
  3,950     

Air Canada, 144A

    8.750     4/01/20        BB–        4,280,813   
 

Auto Components – 2.3%

       
  1,900     

Ahern Rentals Inc., 144A, (4)

    9.500     6/15/18        B        2,101,875   
  2,500     

Allied Specialty Vehicle Inc., 144A

    8.500     11/01/19        B+        2,662,500   
  3,515     

Chassix Inc., 144A

    9.250     8/01/18        B–        3,778,625   
  3,450     

CST Brands Inc., (4)

    5.000     5/01/23        BB–        3,389,625   
  3,100     

Gestamp Funding Luxembourg SA, 144A

    5.625     5/31/20        BB        3,216,250   
  2,000     

Schaeffler Holding Finance BV, 144A

    6.875     8/15/18        B1        2,127,500   
  3,500     

Stackpole International Intermediate Company, 144A, (4)

    7.750     10/15/21        B+        3,749,375   
  19,965     

Total Auto Components

                            21,025,750   
 

Automobiles – 0.7%

       
  3,000     

DriveTime Automatove Group Inc, DT Acceptance Corporation

    12.625     6/15/17        B        3,221,250   
  2,750     

Jaguar Land Rover PLC, 144A

    8.125     5/15/21        BB        3,121,250   
  5,750     

Total Automobiles

                            6,342,500   

 

  4       Nuveen Investments


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

Banks – 2.6%

       
$ 2,850     

BBVA Bancomer SA Texas, 144A

    6.750     9/30/22        Baa2      $ 3,120,748   
  2,500     

Caixa Economica Federal, 144A, (4)

    3.500     11/07/22        Baa2        2,178,125   
  2,000     

CIT Group Inc.

    3.875     2/19/19        BB–        2,021,884   
  2,000     

Promsvyazbank Finance, 144A

    10.200     11/06/19        B1        2,020,000   
  1,925  EUR   

Royal Bank of Scotland Group PLC

    5.500     11/29/49        BB        2,383,476   
  1,000     

Russian Standard Bank ZAO Finance SA, 144A

    10.750     4/10/18        B        940,000   
  1,500     

Sberbank Capital SA, Loan Participation Note, 144A, (4)

    5.500     2/26/24        BBB–        1,404,375   
  2,850     

ScotiaBank Peru SA, 144A

    4.500     12/13/27        A–        2,607,750   
  1,500     

Speedy Cash Inc,, 144A

    10.750     5/15/18        B        1,545,000   
  2,000     

Turkiye Vakiflar Bankasi T.A.O, 144A, (4)

    6.000     11/01/22        BB+        1,831,000   
  1,000     

VTB Bank OJSC via VTB Capital SA, Loan Participation, 144A

    6.875     5/29/18        BBB        1,062,500   
  3,000     

Yapi ve Kredi Bankasi AS, 144A

    5.500     12/06/22        BBB–        2,640,000   
 

Total Banks

                            23,754,858   
 

Beverages – 0.5%

       
  3,450     

Andalou Efes Biracilik ve Malt Sanayii AS, 144A

    3.375     11/01/22        BBB–        2,861,775   
  2,000     

Carolina Beverage Group LLC, 144A

    10.625     8/01/18        B–        2,160,000   
  5,450     

Total Beverages

                            5,021,775   
 

Building Products – 2.0%

       
  1,935     

Associated Asphalt Partners LLC, 144A

    8.500     2/15/18        B        2,026,911   
  3,000     

Builders FirstSource Inc., 144A

    7.625     6/01/21        B–        3,247,500   
  3,300     

Building Materials Holdings Corporation, 144A

    9.000     9/15/18        B–        3,638,250   
  2,800     

Griffon Corporation, 144A

    5.250     3/01/22        BB–        2,772,000   
  2,000     

Ply Gem Industries Inc., 144A, (4)

    6.500     2/01/22        CCC+        2,020,000   
  2,500     

Taylor Morrison Monarch Communities, 144A

    5.250     4/15/21        BB–        2,525,000   
  2,250     

US Concrete Inc., 144A

    8.500     12/01/18        B        2,441,250   
  17,785     

Total Building Products

                            18,670,911   
 

Capital Markets – 0.3%

       
  2,000  EUR   

UT2 Funding PLC

    5.321     6/30/16        BB–        2,881,370   
 

Chemicals – 2.7%

       
  4,250     

Eagle Spinco Inc., 144A

    4.625     2/15/21        BB        4,202,188   
  2,000     

Hexion US Finance

    6.625     4/15/20        Ba3        2,070,000   
  3,500     

HIG BBC Intermediate Holdings LLC for Cornerstone Chemical Company, 144A

    10.500     9/15/18        N/R        3,587,500   
  1,950     

Ineos Group Holdings SA, 144A, (4)

    6.125     8/15/18        B–        2,023,125   
  3,000  EUR   

Ineos Group Holdings SA, 144A

    5.750     2/15/19        B–        4,235,800   
  2,775     

Momentive Performance Materials Inc.

    8.875     10/15/20        B3        3,010,875   
  3,000     

Petrologistics LP Finance Corporation, (4)

    6.250     4/01/20        B        3,007,500   
  425     

TPC Group Inc., 144A

    8.750     12/15/20        B        465,906   

 

Nuveen Investments     5   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Chemicals (continued)

       
$ 2,250     

Trinseo Materials Operating, (4)

    8.750     2/01/19        B      $ 2,415,938   
 

Total Chemicals

                            25,018,832   
 

Commercial Services & Supplies – 2.6%

       
  2,860     

ABX Group Inc.

    8.750     12/01/20        CCC+        2,910,050   
  4,740     

ADT Corporation, 144A, (4)

    6.250     10/15/21        BBB–        4,870,350   
  3,050     

Casella Waste Systems Inc., (4)

    7.750     2/15/19        Caa1        3,164,375   
  2,650     

Clean Harbors Inc.

    5.250     8/01/20        BB+        2,729,500   
  4,140  EUR   

Europcar Groupe SA, 144A

    11.500     5/15/17        B–        6,644,578   
  2,000     

GDR Holding II Corporation, 144A

    10.750     6/01/19        B        2,200,000   
  2,000     

SquareTwo Financial Corporation, (4)

    11.625     4/01/17        B2        2,010,000   
 

Total Commercial Services & Supplies

                            24,528,853   
 

Communications Equipment – 1.0%

       
  3,000     

Avaya Inc., 144A, (4)

    10.500     3/01/21        CCC+        2,782,500   
  2,000     

Broadview Networks Holdings Inc.

    10.500     11/15/17        N/R        1,990,000   
  1,500     

Griffey Intermediate Inc. Finance, 144A, (4)

    7.000     10/15/20        CCC+        1,308,750   
  2,875     

IntelSat Jackson Holdings, 144A

    6.625     12/15/22        B–        2,990,000   
  9,375     

Total Communications Equipment

                            9,071,250   
 

Computers & Peripherals – 0.6%

       
  1,000     

Hutchinson Technology Inc.

    8.500     1/15/17        N/R        942,500   
  2,325     

NCR Corporation

    5.000     7/15/22        BB        2,327,906   
  2,000     

NCR Escrow Corporation, 144A

    5.875     12/15/21        BB        2,105,000   
  5,325     

Total Computers & Peripherals

                            5,375,406   
 

Construction & Engineering – 0.6%

       
  2,500     

Michael Baker International LLC / CDL Acquisition Company Inc., 144A

    8.250     10/15/18        B+        2,668,750   
  2,565     

Wyle Services Corporation, 144A

    10.500     4/01/18        CCC+        2,706,075   
  5,065     

Total Construction & Engineering

                            5,374,825   
 

Consumer Finance – 0.2%

       
  2,500     

Home Credit & Finance Bank LLC Eurasia Capital, 144A

    9.375     4/24/20        BB–        2,287,500   
 

Containers & Packaging – 0.9%

       
  240     

Ardagh Packaging Finance / MP HD USA, 144A

    7.000     11/15/20        CCC+        252,600   
  2,300     

Ardagh Packaging Finance / MP HD USA, 144A, (4)

    6.750     1/31/21        CCC+        2,403,500   
  2,500     

Beverage Packaging Holdings Luxembourg II SA / Issuer Inc., 144A

    6.000     6/15/17        CCC+        2,587,500   
  2,850     

Plastipak Holdings Inc., 144A

    6.500     10/01/21        B+        2,988,938   
  7,890     

Total Containers & Packaging

                            8,232,538   
 

Diversified Consumer Services – 1.8%

       
  3,000     

Caesars Entertainment Resort Properties LLC, 144A

    8.000     10/01/20        B+        3,157,500   

 

  6       Nuveen Investments


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

Diversified Consumer Services (continued)

       
$ 3,000     

Gibson Brands Inc., 144A

    8.875     8/01/18        B2      $ 3,195,000   
  4,000     

Jones Group Inc.

    6.125     11/15/34        B+        3,050,000   
  2,500     

NES Rental Holdings Inc., 144A

    7.875     5/01/18        CCC+        2,675,000   
  2,500     

Office Depot de Mexico SA de CV, 144A

    6.875     9/20/20        BB+        2,603,125   
  2,000     

Southern States Cooperative Inc., 144A

    10.000     8/15/21        B        2,007,500   
  17,000     

Total Diversified Consumer Services

                            16,688,125   
 

Diversified Financial Services – 1.5%

       
  2,750     

CNG Holdings Inc., 144A

    9.375     5/15/20        B        2,516,250   
  3,000     

Jefferies Finance LLC Corporation, 144A

    7.375     4/01/20        B1        3,150,000   
  2,300     

Jefferies Finance LLC Corporation, 144A

    6.875     4/15/22        B1        2,317,250   
  1,600     

Jefferies LoanCore LLC Finance Corporation, 144A

    6.875     6/01/20        B        1,624,000   
  4,360     

Nationstar Mortgage LLC Capital Corporation, (4)

    7.875     10/01/20        B+        4,403,600   
  14,010     

Total Diversified Financial Services

                            14,011,100   
 

Diversified Telecommunication Services – 1.4%

       
  2,300     

CenturyLink Inc.

    7.650     3/15/42        BB+        2,170,625   
  2,000     

Citizens Communications Company

    9.000     8/15/31        Ba2        2,045,000   
  3,500     

Frontier Communications Corporation, (4)

    8.500     4/15/20        Ba2        4,068,750   
  2,135     

Sprint Capital Corporation

    8.750     3/15/32        BB–        2,348,500   
  2,225     

Telecom Italia Capital, (4)

    7.175     6/18/19        BBB–        2,550,406   
  12,160     

Total Diversified Telecommunication Services

                            13,183,281   
 

Electric Utilities – 1.7%

       
  3,500     

Energy Future Intermediate Holding Company LLC, 144A, (4)

    12.250     3/01/22        Caa1        4,130,000   
  2,800     

FirstEnergy Corporation

    4.250     3/15/23        Baa3        2,715,829   
  1,800     

Intergen NV, 144A

    7.000     6/30/23        B+        1,890,000   
  3,969     

Mirant Americas Generation LLC

    9.125     5/01/31        BB–        3,740,783   
  1,697     

Midwest Generation LLC

    8.560     1/02/16        N/R        1,926,333   
  1,000     

Star Energy Geothermal Wayang Windu Limited, 144A

    6.125     3/27/20        B+        977,500   
  1,000     

Texas Competitive Electric Holdings, 144A, (12)

    11.500     10/01/20        CCC–        767,500   
  15,766     

Total Electric Utilities

                            16,147,945   
 

Energy Equipment & Services – 1.6%

       
  2,500     

Hercules Offshore LLC, 144A, (4)

    8.750     7/15/21        B        2,712,500   
  15,000  NOK   

North Atlantic Drilling Limited

    6.050     10/30/18        N/R        2,498,831   
  3,000     

Oro Negro Drilling PTE Limited, 144A

    7.500     1/24/19        N/R        3,015,000   
  2,750     

Parker Drilling Company

    7.500     8/01/20        B+        2,928,750   
  2,000     

Santa Maria Offshore Limited, 144A

    8.875     7/03/18        N/R        2,120,000   
  1,100     

Trolldrilling & Services Limited

    13.750     8/19/16        N/R        1,177,168   
 

Total Energy Equipment & Services

                            14,452,249   

 

Nuveen Investments     7   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Food & Staples Retailing – 0.7%

       
$ 2,500     

Kehe Distributors LLC Finance, 144A

    7.625     8/15/21        B      $ 2,687,500   
  1,500     

Rite Aid Corporation, 144A

    6.875     12/15/28        CCC+        1,470,000   
  2,400     

Rite Aid Corporation, (4)

    9.250     3/15/20        CCC+        2,739,000   
  6,400     

Total Food & Staples Retailing

                            6,896,500   
 

Food Products – 2.1%

       
  3,000     

B&G Foods Inc., (4)

    4.625     6/01/21        BB–        2,966,250   
  2,500     

Diamond Foods Inc., 144A

    7.000     3/15/19        CCC+        2,587,500   
  2,500     

Dole Food Company, 144A, (4)

    7.250     5/01/19        CCC+        2,512,500   
  500     

JBS Investments GmbH, 144A

    7.250     4/03/24          500,000   
  2,800     

JBS USA LLC, 144A

    7.250     6/01/21        BB        2,982,000   
  4,500     

Land O Lakes Capital Trust I, 144A

    7.450     3/15/28        BB        4,387,500   
  2,000     

Marfrig Holding Europe BV, 144A, (4)

    8.375     5/09/18        B        1,996,000   
  1,450     

Mriya Agro Holding PLC, 144A

    9.450     4/19/18        CCC        1,225,250   
  19,250     

Total Food Products

                            19,157,000   
 

Gas Utilities – 0.3%

       
  2,810     

LBC Tank Terminals Holdings Netherlands BV, 144A

    6.875     5/15/23        B        2,999,675   
 

Health Care Equipment & Supplies – 0.2%

       
  1,250  EUR   

Labco SAS, Reg S

    8.500     1/15/18        BB–        1,835,900   
 

Health Care Providers & Services – 2.6%

       
  3,000     

Community Health Systems, Inc.

    5.125     8/15/18        BB+        3,150,000   
  1,250     

HCA Holdings Inc.

    6.250     2/15/21        B–        1,338,125   
  3,500     

HCA Inc.

    6.500     2/15/20        BB+        3,920,000   
  1,500     

Kindred Healthcare Inc., 144A, (WI/DD)

    6.375     4/15/22        B–        1,503,750   
  2,250     

National Mentor Holdings, 144A

    12.500     2/15/18        CCC+        2,396,250   
  3,500     

Opal Acquisition Inc., 144A, (4)

    8.875     12/15/21        CCC+        3,517,500   
  1,000     

Select Medical Corporation, 144A

    6.375     6/01/21        B3        1,015,000   
  1,000     

Select Medical Corporation, (4)

    6.375     6/01/21        B–        1,015,000   
  (11)   

Symbion Inc.

    11.000     8/23/15        CCC+        491   
  2,500     

Tenet Healthcare Corporation, (4)

    6.250     11/01/18        BB        2,757,813   
  2,000     

Tenet Healthcare Corporation

    6.750     2/01/20        B3        2,105,000   
  1,800     

Tenet Healthcare Corporation

    6.875     11/15/31        B3        1,620,000   
  23,300     

Total Health Care Providers & Services

                            24,338,929   
 

Hotels, Restaurants & Leisure – 2.0%

       
  2,000     

Caesars Entertainment Resort Properties LLC, 144A, (4)

    11.000     10/01/21        CCC+        2,100,000   
  1,450     

Caesars Operating Escrow

    9.000     2/15/20        B–        1,301,375   
  1,000     

Caesars Operating Escrow

    9.000     2/15/20        B–        897,500   
  30     

Greektown Holdings, (3)

    10.750     12/01/14        N/R          
  1,500     

Harrah’s Operating Company, Inc.

    10.000     12/15/18        CCC–        656,250   

 

  8       Nuveen Investments


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

Hotels, Restaurants & Leisure (continued)

       
$ 3,350     

Mohegan Tribal Gaming Authority

    9.750     9/01/21        B3      $ 3,735,250   
  2,000     

Roc Finance LLC and Roc Finance 1 Corporation, 144A, (4)

    12.125     9/01/18        B        2,110,000   
  2,750     

Shearer’s Foods LLC, 144A

    9.000     11/01/19        B        3,004,375   
  4,350     

Wynn Macau Limited, 144A

    5.250     10/15/21        BB        4,426,125   
  18,430     

Total Hotels, Restaurants & Leisure

                            18,230,875   
 

Household Durables – 0.8%

       
  2,500     

Beazer Homes USA, Inc.

    7.500     9/15/21        CCC+        2,687,500   
  3,000     

Brookfield Residential Properties Inc., 144A

    6.500     12/15/20        BB–        3,195,000   
  2,000     

K. Hovnanian Enterprises Inc.

    5.000     11/01/21        Ba3        1,790,000   
  7,500     

Total Household Durables

                            7,672,500   
 

Household Products – 0.2%

       
  1,900     

Reynolds Group, (4)

    9.875     8/15/19        CCC+        2,123,250   
 

Independent Power & Renewable Electricity Producers – 0.6%

       
  3,300     

Dynegy Holdings, Inc., 144A

    5.875     6/01/23        B+        3,242,250   
  2,500     

RRI Energy Inc.

    7.875     6/15/17        B        2,512,500   
  5,800     

Total Independent Power & Renewable Electricity Producers

                            5,754,750   
 

Industrial Conglomerates – 0.5%

       
  1,000     

Foresight Energy Limited Liability Corporation, 144A

    7.875     8/15/21        CCC+        1,047,500   
  9,000  NOK   

Grieg Seafood ASA

    8.660     12/21/15        N/R        1,570,694   
  2,450     

Stena AB, 144A, (4)

    7.000     2/01/24        BB        2,492,875   
 

Total Industrial Conglomerates

                            5,111,069   
 

Internet Software & Services – 0.2%

       
  2,250     

Equinix Inc., (4)

    5.375     4/01/23        BB        2,295,000   
 

IT Services – 0.3%

       
  2,050     

First Data Corporation

    12.625     1/15/21        B–        2,439,500   
 

Leisure Equipment & Products – 0.7%

       
  2,000     

Cinemark USA Inc.

    4.875     6/01/23        BB–        1,922,500   
  2,925  CAD   

Gateway Casinos & Entertainment Limited, 144A

    8.500     11/26/20        B+        2,676,474   
  1,500     

Seminole Hard Rock Entertainment, Inc., 144A

    5.875     5/15/21        BB–        1,511,250   
 

Total Leisure Equipment & Products

                            6,110,224   
 

Machinery – 1.6%

       
  2,100     

Blueline Rental Finance Corporation, 144A

    7.000     2/01/19        B        2,220,750   
  3,000     

Commercial Vehicle Group, (4)

    7.875     4/15/19        B        3,078,750   
  3,000     

CTP Transportation Products LLC-Finance Inc., 144A

    8.250     12/15/19        B+        3,232,500   
  3,050     

Harsco Corporation

    5.750     5/15/18        BBB–        3,263,500   
  2,100  EUR   

Loxam SAS, 144A

    7.375     1/24/20        B        3,167,923   
 

Total Machinery

                            14,963,423   

 

Nuveen Investments     9   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Marine – 1.6%

       
  10,588  NOK   

BOA SBL AS, 144A

    7.110     4/19/18        N/R      $ 1,777,020   
  2,500  EUR   

CMA CGM SA, 144A

    8.750     12/15/18        CCC+        3,452,753   
  11,909  NOK   

E Forland AS, 144A

    8.410     9/04/18        B        2,033,554   
$ 2,000     

Eletson Holdings Inc., 144A

    9.625     1/15/22        B        2,110,000   
  1,250     

Global Ship Lease Inc., 144A

    10.000     4/01/19        B3        1,290,625   
  2,000     

Navios Maritime Acquisition Corporation, 144A, (4)

    8.125     11/15/21        B        2,085,000   
  2,200     

Topaz Marine SA, 144A

    8.625     11/01/18        B–        2,310,000   
 

Total Marine

                            15,058,952   
 

Media – 5.2%

       
  1,000     

American Media Inc., 144A, (4)

    13.500     6/15/18        CCC–        1,080,000   
  2,000     

American Media Inc.

    11.500     12/15/17        B2        2,175,000   
  932     

Baker & Taylor Inc., 144A

    15.000     4/01/17        B3        745,600   
  1,900     

Belo Corporation

    7.250     9/15/27        Ba1        1,971,250   
  3,500     

Cequel Communication Holdings I, 144A

    5.125     12/15/21        B–        3,465,000   
  2,850     

Charter Communications, CCO Holdings LLC

    5.125     2/15/23        BB–        2,743,125   
  5,000     

Clear Channel Communications, Inc.

    11.250     3/01/21        CCC+        5,562,500   
  3,300     

Dish DBS Corporation, (4)

    5.875     7/15/22        BB–        3,522,750   
  2,250     

Lee Enterprises Inc., 144A

    9.500     3/15/22        B2        2,317,500   
  1,500     

Lynx II Corporation, 144A

    6.375     4/15/23        B        1,590,000   
  1,950     

McClatchy Company

    9.000     12/15/22        B1        2,269,313   
  3,000     

McGraw-Hill Global Education Holdings, 144A, (4)

    9.750     4/01/21        BB        3,405,000   
  3,600     

Midcontinent Communications Finance Company, 144A

    6.250     8/01/21        B–        3,744,000   
  2,000     

Radio One Inc., 144A, (4)

    9.250     2/15/20        CCC        2,120,000   
  2,750     

Sinclair Television Group

    5.375     4/01/21        B1        2,729,375   
  2,000     

Sirius XM Radio Inc., 144A, (4)

    5.750     8/01/21        BB        2,080,000   
  3,150  CAD   

Videotron Limited, 144A

    5.625     6/15/25        BB        2,792,402   
  3,900     

WideOpenWest Finance Capital Corporation

    13.375     10/15/19        CCC+        4,572,750   
 

Total Media

                            48,885,565   
 

Metals & Mining – 6.4%

       
  1,000     

Aleris International Inc., (3)

    10.000     12/15/16        N/R        10   
  2,215  CAD   

Allied Nevada Gold Corporation, 144A

    8.750     6/01/19        CCC+        1,602,895   
  1,600     

Anglogold Holdings PLC, (4)

    8.500     7/30/20        Baa3        1,764,400   
  2,950     

ArcelorMittal

    7.000     10/15/39        BB+        3,049,560   
  2,250     

AuRico Gold Inc., 144A

    7.750     4/01/20        B        2,233,125   
  2,965     

Century Aluminum Company, 144A, (4)

    7.500     6/01/21        B        2,987,238   
  3,225     

Coeur d’Alene Mines Corporation

    7.875     2/01/21        B+        3,241,125   
  1,800     

Commercial Metals Inc.

    4.875     5/15/23        BB+        1,728,000   
  2,500     

Compania Minera Ares SAC, 144A, (4)

    7.750     1/23/21        Ba1        2,578,125   
  3,550     

Eldorado Gold Corporation, 144A, (4)

    6.125     12/15/20        BB        3,550,000   

 

  10       Nuveen Investments


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

Metals & Mining (continued)

       
$ 2,360     

First Quantum Minerals Limited, 144A

    6.750     2/15/20        BB      $ 2,389,500   
  2,360     

First Quantum Minerals Limited, 144A, (4)

    7.000     2/15/21        BB        2,401,300   
  5,000     

FMG Resources, 144A, (4)

    8.250     11/01/19        BB+        5,500,000   
  2,000     

FMG Resources, 144A, (4)

    6.875     4/01/22        BB+        2,155,000   
  2,000     

Gold Fields Orogen Holdings BVI Limited, 144A, (4)

    4.875     10/07/20        BB+        1,730,000   
  3,100     

Imperial Metals Corporation, 144A

    7.000     3/15/19        B–        3,162,000   
  3,500     

Magnetation LLC Finance Corporation, 144A

    11.000     5/15/18        B–        3,911,250   
  3,260     

Northland Resources AB, 144A

    15.000     7/15/19        Caa2        1,629,969   
  1,552     

Northland Resources AB, (12)

    4.000     10/15/20        D        69,837   
  2,750     

Permian Holdings Incorporated, 144A

    10.500     1/15/18        B–        2,798,125   
  1,600     

Severstal OAO Via Steel Capital SA, 144A

    4.450     3/19/18        BB+        1,556,000   
  2,000     

Tempel Steel Company, 144A

    12.000     8/15/16        CCC+        1,880,000   
  1,500     

TMK OAO via TMK Capital SA, 144A, (4)

    6.750     4/03/20        B+        1,316,250   
  2,400     

Vedanta Resources PLC, 144A, (4)

    6.000     1/31/19        BB        2,400,000   
  2,400     

Wise Metals Group, 144A

    8.750     12/15/18        B–        2,574,000   
  1,750     

WPE International Cooperatief U.A, 144A

    10.375     9/30/20        B+        1,054,375   
 

Total Metals & Mining

                            59,262,084   
 

Multiline Retail – 0.5%

       
  2,000     

Bon-Ton Department Stores Inc., (4)

    8.000     6/15/21        B–        1,932,500   
  3,950     

J.C. Penney Corporation Inc., (4)

    6.375     10/15/36        Caa2        3,011,875   
  5,950     

Total Multiline Retail

                            4,944,375   
 

Oil, Gas & Consumable Fuels – 15.0%

       
  2,500     

Armstrong Energy Inc.

    11.750     12/15/19        B–        2,600,000   
  1,500  CAD   

Athabasca Oil Corporation, 144A

    7.500     11/19/17        B        1,343,284   
  2,000     

Athlon Holdings LP Finance Corporation, 144A, (4)

    7.375     4/15/21        CCC+        2,130,000   
  3,500     

Atlas Energy Holdings Operating Company LLC, 144A

    9.250     8/15/21        B–        3,850,000   
  2,155     

Bill Barrett Corporation, (4)

    7.000     10/15/22        B1        2,268,138   
  2,300     

Bluewater Holding BV, 144A

    10.000     12/10/19        N/R        2,386,250   
  2,600     

Breitburn Energy Partners LP

    7.875     4/15/22        B–        2,814,500   
  838     

Calumet Specialty Products

    9.625     8/01/20        B+        961,605   
  2,075     

Calumet Specialty Products

    7.625     1/15/22        B+        2,199,500   
  2,000     

Chesapeake Energy Corporation

    6.875     11/15/20        BB–        2,270,000   
  3,850     

Concho Resources Inc., (4)

    5.500     10/01/22        BB+        4,013,623   
  2,500     

Connacher Oil and Gas Limited, 144A, (4)

    8.500     8/01/19        B        2,000,000   
  2,750     

Crestwood Midstream Partners LP, 144A, (4)

    6.125     3/01/22        BB        2,873,750   
  1,778     

Deep Drilling 7 & 8 PT

    14.250     3/05/15        N/R        1,915,256   
  2,200     

Denbury Resources Incorporated, (4)

    4.625     7/15/23        BB        2,046,000   
  2,500     

Diamondback Energy Inc., 144A

    7.625     10/01/21        B–        2,700,000   
  1,075     

Everest Acquisition LLC Finance

    7.750     9/01/22        B        1,206,688   

 

Nuveen Investments     11   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Oil, Gas & Consumable Fuels (continued)

       
$ 2,300     

Forest Oil Corporation, (4)

    7.250     6/15/19        Caa1      $ 2,015,375   
  11,000  NOK   

GasLog Limited, 144A

    7.150     6/27/18        N/R        1,892,181   
  2,875     

Gastar Exploration USA, 144A

    8.625     5/15/18        B–        2,946,875   
  1,950     

Gibson Energy, 144A

    6.750     7/15/21        BB        2,091,375   
  1,000     

Halcon Resources Corporation, 144A, (4)

    9.750     7/15/20        CCC+        1,075,000   
  1,500     

Halcon Resources Corporation, (4)

    9.750     7/15/20        CCC+        1,616,250   
  3,000     

Harkand Finance, 144A

    7.500     3/28/19        N/R        3,000,000   
  2,000     

ION Geophysical Corporation, 144A, (4)

    8.125     5/15/18        B        1,880,000   
  2,500     

Iona Energy Company UK

    9.500     9/27/18        N/R        2,481,250   
  2,680     

Key Energy Services Inc., (4)

    6.750     3/01/21        BB–        2,817,350   
  2,475     

Kodiak Oil and Gas Corporation

    5.500     2/01/22        B        2,533,781   
  1,965     

Legacy Reserves LP Finance Corporation

    6.625     12/01/21        B–        1,960,088   
  1,895     

Linn Energy LLC Finance Corporation, 144A, (4)

    6.250     11/01/19        B+        1,975,538   
  2,000     

Martin Mid-Stream Partners LP Finance

    7.250     2/15/21        B–        2,097,500   
  3,575     

MEG Energy Corporation, 144A

    7.000     3/31/24        BB        3,780,563   
  3,000     

Metro Exploration Holding Inc.

    8.000     2/14/16        N/R        2,985,000   
  1,300     

Murphy Oil USA Inc., 144A

    6.000     8/15/23        BB        1,342,250   
  739     

Newfield Exploration Company

    5.625     7/01/24        BBB–        766,713   
  2,500     

Niska Gas Storage Canada ULC Finance Corporation, 144A, (4)

    6.500     4/01/19        B        2,462,500   
  1,500     

Norshore Atlantic BV, 144A

    12.000     12/21/18        N/R        1,515,000   
  2,250     

Northern Blizzard Resources Inc., 144A

    7.250     2/01/22        B–        2,317,500   
  1,650     

Northern Tier Energy LLC

    7.125     11/15/20        BB–        1,765,500   
  2,300     

Oasis Petroleum Inc., 144A

    6.875     3/15/22        B+        2,489,750   
  1,500  CAD   

Paramount Resources Limited, 144A

    7.625     12/04/19        B        1,424,695   
  3,075     

Parsley Energy LLC Finance Corporation, 144A, (4)

    7.500     2/15/22        CCC+        3,244,125   
  2,850     

PBF Holding Company LLC

    8.250     2/15/20        BB+        3,092,248   
  2,750     

Pertamina PT, 144A

    4.875     5/03/22        Baa3        2,643,438   
  3,325     

PetroBakken Energy Limited, 144A

    8.625     2/01/20        B–        3,325,000   
  3,800     

Rosneft International Finance, 144A, (4)

    4.199     3/06/22        Baa1        3,358,250   
  3,124     

Sabine Pass Liquefaction LLC

    5.625     2/01/21        BB+        3,221,625   
  3,000     

Sabine Pass LNG LP

    7.500     11/30/16        BB+        3,315,000   
  2,000     

Sanchez Energy Corporation, 144A

    7.750     6/15/21        B–        2,135,000   
  3,000     

Sandridge Energy Inc., (4)

    8.125     10/15/22        B2        3,270,000   
  2,750     

Seadrill Limited, 144A, (4)

    6.125     9/15/20        N/R        2,818,750   
  2,500     

Seitel Inc., (4)

    9.500     4/15/19        B        2,587,500   
  11,000  NOK   

Ship Finance International Limited

    6.610     10/19/17        N/R        1,901,366   
  13,000  NOK   

Ship Finance International Limited

    5.190     3/19/19        N/R        2,171,081   
  1,200     

Sterling Resources UK Limited

    9.000     4/30/19        N/R        1,230,000   
  1,750     

Summit Midstream Holdings LLC Finance, 144A

    7.500     7/01/21        B        1,872,500   

 

  12       Nuveen Investments


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

Oil, Gas & Consumable Fuels (continued)

       
$ 3,030     

Talos Production LLC, 144A

    9.750     2/15/18        CCC+      $ 3,173,925   
  2,025     

Vanguard Natural Resources Finance, (4)

    7.875     4/01/20        B        2,181,938   
  2,895     

Western Refining Inc.

    6.250     4/01/21        B+        2,996,325   
 

Total Oil, Gas & Consumable Fuels

                            139,348,699   
 

Paper & Forest Products – 1.9%

       
  3,500     

Appvion Inc., 144A

    9.000     6/01/20        B2        3,570,000   
  2,250     

Millar Western Forest Products Ltd

    8.500     4/01/21        B–        2,368,125   
  2,450     

Resolute Forest Products, 144A

    5.875     5/15/23        BB–        2,388,748   
  1,800     

Sappi Papier Holding GMBH, 144A

    6.625     4/15/21        BB        1,867,500   
  2,925     

Stora Enso Oyj, 144A

    7.250     4/15/36        BB        2,771,438   
  2,000     

Tembec Industries, Inc.

    11.250     12/15/18        B3        2,185,000   
  1,500     

Verso Paper Holdings LLC

    11.750     1/15/19        Ba3        1,616,250   
  1,000     

Verso Paper Holdings LLC, (4)

    11.750     1/15/19        B3        930,000   
  17,425     

Total Paper & Forest Products

                            17,697,061   
 

Personal Products – 0.4%

       
  3,750     

Albea Beauty Holdings SA, 144A, (4)

    8.375     11/01/19        B+        4,068,750   
 

Pharmaceuticals – 0.8%

       
  2,000     

Bioscrip Inc., 144A, (4)

    8.875     2/15/21        CCC+        2,085,000   
  2,500     

Grifols Worldwide Operations Limited, 144A

    5.250     4/01/22        B+        2,556,250   
  3,000     

VP Escrow Corporation, 144A

    6.375     10/15/20        B1        3,240,000   
  7,500     

Total Pharmaceuticals

                            7,881,250   
 

Real Estate Investment Trust – 0.4%

       
  1,750     

KWG Property Holdings Limited

    13.250     3/22/17        B+        1,933,750   
  2,000     

MPT Operating Partnership Finance

    6.375     2/15/22        Ba1        2,140,000   
  3,750     

Total Real Estate Investment Trust

                            4,073,750   
 

Real Estate Management & Development – 2.4%

       
  2,000     

Country Garden Holding Company, 144A, (4)

    7.500     1/10/23        Ba2        1,860,000   
  2,000     

Gemdale International Investment Limited

    7.125     11/16/17        BB–        1,992,500   
  2,750     

Howard Hughes Corporation, 144A

    6.875     10/01/21        Ba3        2,970,000   
  4,000     

Hunt Companies Inc.

    9.625     3/01/21        N/R        4,100,000   
  3,500     

Kaisa Group Holdings Limited, 144A, (4)

    8.875     3/19/18        B+        3,373,125   
  4,265     

Mattamy Group Corporation, 144A, (4)

    6.500     11/15/20        BB        4,318,313   
  3,000     

Rialto Holdings LLC-Rialto Corporation, 144A

    7.000     12/01/18        B        3,090,000   
  750     

Shimao Property Holdings Limited

    11.000     3/08/18        BB+        820,313   
  22,265     

Total Real Estate Management & Development

                            22,524,251   

 

Nuveen Investments     13   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Road & Rail – 0.5%

       
$ 1,950     

Jack Cooper Holdings Corporation, 144A

    9.250     6/01/20        B2      $ 2,125,500   
  2,750     

Watco Companies LLC Finance, 144A

    6.375     4/01/23        B3        2,791,250   
  4,700     

Total Road & Rail

                            4,916,750   
 

Semiconductors & Equipment – 0.3%

       
  2,425     

Micron Technology, Inc., 144A, (4)

    5.875     2/15/22        BB–        2,540,188   
 

Software – 1.0%

       
  2,000     

BCP Singapore VI Cayman Financing Company Limited, 144A

    8.000     4/15/21        BB–        2,030,000   
  2,675     

BMC Software Finance Inc., 144A

    8.125     7/15/21        B–        2,815,438   
  2,000     

First Data Corporation, (4)

    11.750     8/15/21        CCC+        2,100,000   
  2,500     

Interface Security Systems Holdings, 144A

    9.250     1/15/18        B–        2,500,000   
  9,175     

Total Software

                            9,445,438   
 

Specialty Retail – 1.0%

       
  1,000     

Guitar Center Inc., 144A, (WI/DD)

    9.625     4/15/20        CCC        992,500   
  3,850     

Neiman Marcus Mariposa Borrower / Merger Sub LLC, 144A, (4)

    8.000     10/15/21        CCC+        4,230,187   
  1,450     

Toys “R” Us, Inc., (4)

    10.375     8/15/17        Caa1        1,210,750   
  3,000     

Toys “R” Us Property Company II LLC, (4)

    8.500     12/01/17        Ba2        3,056,250   
  9,300     

Total Specialty Retail

                            9,489,687   
 

Transportation Infrastructure – 0.6%

       
  1,040     

Flexi-Van Leasing Inc., 144A

    7.875     8/15/18        BB–        1,146,600   
  4,000     

Navigator Holdings Limited, 144A

    9.000     12/18/17        N/R        4,340,000   
  5,040     

Total Transportation Infrastructure

                            5,486,600   
 

Wireless Telecommunication Services – 2.3%

       
  15,500  SEK   

AINMT Scandinavia Holdings AB

    9.750     3/19/19        N/R        2,400,808   
  1,250     

Comcel Trust, 144A

    6.875     2/06/24        Ba1        1,307,813   
  3,750     

Digicel Group, Limited, 144A

    8.250     9/30/20        B–        4,003,125   
  2,075     

FairPoint Communications Inc., 144A

    8.750     8/15/19        B        2,220,250   
  2,000     

IntelSat Jackson Holdings, (4)

    6.625     12/15/22        B–        2,080,000   
  1,750     

Sprint Corporation, 144A

    7.250     9/15/21        BB–        1,907,500   
  1,475     

Sprint Nextel Corporation

    7.000     8/15/20        BB–        1,607,750   
  2,950     

Telecom Italia Capital

    6.999     6/04/18        BBB–        3,344,563   
  2,122     

Wind Acquisition Holdings Finance SpA, 144A, (4)

    12.250     7/15/17        B        2,223,318   
 

Total Wireless Telecommunication Services

                            21,095,127   
 

Total Corporate Bonds (cost $721,997,421)

                            735,325,303   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (6)     Value  
 

CONVERTIBLE BONDS – 1.0%

       
 

Banks – 0.5%

       
$ 4,000     

Lloyds Banking Group LBG Capital 1, 144A

    8.000     N/A (13)        BBB–      $ 4,294,000   

 

  14       Nuveen Investments


Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (6)     Value  
 

Diversified Telecommunication Services – 0.1%

       
$ 1,500     

Alaska Communications Systems Group Inc., 144A

    6.250     5/01/18        B+      $ 1,243,125   
 

Metals & Mining – 0.1%

       
  1,500     

Great Western Mineral Group

    8.000     4/06/17        N/R        345,000   
 

Oil, Gas & Consumable Fuels – 0.3%

       
  3,300     

DCP Midstream LLC, 144A

    5.850     5/21/43        Baa3        3,102,000   
$ 10,300     

Total Convertible Bonds (cost $10,246,550)

                            8,984,125   
Principal
Amount (000) (10)
    Description (1)   Coupon     Maturity     Ratings (6)     Value  
 

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 5.2%

       
 

Banks – 1.9%

       
  4,970  EUR   

Barclays Bank PLC

    4.750     N/A (13)        BBB–      $ 6,102,350   
$ 3,385     

BBVA International Preferred Uniperson, (4)

    5.919     N/A (13)        BB–        3,368,074   
  2,000     

RBS Capital Trust I

    2.098     N/A (13)        BB        1,940,000   
  2,000     

RBS Capital Trust IV

    1.047     N/A (13)        BB        1,925,000   
  2,900     

Societe Generale, 144A

    0.993     N/A (13)        BBB–        2,668,000   
  2,000     

Societe Generale, 144A

    7.875     N/A (13)        BB+        2,080,000   
 

Total Banks

                            18,083,424   
 

Capital Markets – 1.5%

       
  3,500  EUR   

Baggot Securities Limited, 144A

    10.240     N/A (13)        N/R        5,249,735   
  4,300     

Dresdner Funding Trust, 144A, (4)

    8.151     6/30/31        BB        4,880,500   
  4,840     

Goldman Sachs Capital II

    4.000     N/A (13)        BB+        3,726,800   
 

Total Capital Markets

                            13,857,035   
 

Consumer Finance – 0.2%

       
  2,000     

AFGC Capital Trust I, 144A

    6.000     1/15/67        Caa2        1,690,000   
 

Diversified Financial Services – 0.5%

       
  3,000  EUR   

Barclays PLC

    8.000     N/A (13)        BB+        4,339,620   
 

Electric Utilities – 0.1%

       
  1,000     

AES Gener SA, 144A

    8.375     12/18/73        Ba2        1,060,000   
 

Industrial Conglomerates – 0.2%

       
  2,000     

OAS Financial Limited, 144A

    8.875     N/A (13)        BB–        1,880,000   
 

Insurance – 0.8%

       
  4,800     

Genworth Financial Inc.

    6.150     11/15/66        Ba1        4,434,000   
  3,000     

Glen Meadows Pass-Through Trust, 144A

    6.505     2/12/67        BB+        2,955,000   
 

Total Insurance

                            7,389,000   
 

Total $1,000 Par (or similar) Institutional Preferred (cost $43,885,822)

  

                    48,299,079   

 

Nuveen Investments     15   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (6)     Value  
 

ASSET-BACKED SECURITIES – 0.0%

       
$ 2     

Green Tree Financial Corporation, Manufactured Housing Contract Pass-Through Certificates, Series 1998-1

    6.040     11/01/29        AA      $ 2,239   
$ 2     

Total Asset-Backed Securities (cost $2,167)

                            2,239   
Shares     Description (1), (5)                        Value  
 

INVESTMENT COMPANIES – 1.5%

       
  181,000     

Blackrock Credit Allocation Income Trust IV

        $ 2,447,120   
  80,000     

BlackRock MuniHoldings Insured Fund Inc.

          1,011,200   
  128,500     

First Trust Strategic High Income Fund II

          2,047,005   
  37,500     

Gabelli Global Gold Natural Resources and Income Trust

          372,000   
  193,000     

Invesco Dynamic Credit Opportunities Fund

          2,497,420   
  50,000     

Invesco Municipal Income Opportunities Trust

          330,000   
  208,500     

Pimco Income Strategy Fund

          2,445,705   
  187,000     

Pioneer Floating Rate Trust

          2,363,680   
  21,351     

WhiteHorse Finance Incorporated

                            300,409   
 

Total Investment Companies (cost $13,576,802)

                            13,814,539   
Shares     Description (1)                        Value  
 

WARRANTS – 0.0%

       
  6,707     

FairPoint Communications Inc.

        $ 201   
  19,654     

Adamas Finance Asia Limited, (3)

                              
 

Total Warrants (cost $0)

                            201   
 

Total Long-Term Investments (cost $881,840,798)

                            904,352,139   
Shares     Description (1)   Coupon                   Value  
 

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 17.4%

  

     
 

Money Market Funds – 17.4%

       
  161,787,634     

Mount Vernon Securities Lending Trust Prime Portfolio, (15)

    0.182 % (14)                    $ 161,787,634   
 

Total Investments Purchased with Collateral from Securities Lending (cost $161,787,634)

  

            161,787,634   
Shares     Description (1)   Coupon                   Value  
 

SHORT-TERM INVESTMENTS – 1.1%

       
 

Money Market Funds – 1.1%

       
  9,999,636     

First American Treasury Obligations Fund, Class Z

    0.000 % (14)                    $ 9,999,636   
 

Total Short-Term Investments (cost $9,999,636)

                            9,999,636   
 

Total Investments (cost $1,053,628,068) – 115.6%

                            1,076,139,409   
 

Other Assets Less Liabilities – (15.6)% (16)

                            (144,889,200
 

Net Assets – 100%

                          $ 931,250,209   

 

  16       Nuveen Investments


Investments in Derivatives as of March 31, 2014

Forward Foreign Currency Exchange Contracts outstanding:

 

Counterparty      Currency Contracts to Deliver      Amount
(Local Currency)
     In Exchange
For Currency
     Amount
(Local Currency)
       Settlement
Date
       Unrealized
Appreciation
Depreciation)
(U.S. Dollars) (16)
 
Citigroup      Canadian Dollar        10,485,000       U.S. Dollar        9,521,431           4/14/14         $ 40,046   
Citigroup      Euro        25,584,900       U.S. Dollar        34,847,606           4/14/14           (398,369
Citigroup      Euro        2,050,000       U.S. Dollar        2,808,840           4/14/14           (15,257
Citigroup      Euro        1,770,000       U.S. Dollar        2,463,380           4/14/14           25,013   
Citigroup      Euro        1,000,000       U.S. Dollar        1,357,661           4/14/14           (19,948
Citigroup      Norwegian Krone        82,000,000       U.S. Dollar        13,477,310           5/30/14           (184,984
Citigroup      Swedish Krona        18,025,000       U.S. Dollar        2,790,248           6/09/14           8,409   
Citigroup      U.S. Dollar        1,803,959       Euro        1,300,000           4/14/14           (13,068
Citigroup      U.S. Dollar        387,267       Swedish Krona        2,500,000           6/09/14           (1,436
                                                    $ (559,594

Credit Default Swaps outstanding:

 

Clearing House      Referenced Entity        Buy/Sell
Protection (17)
       Current
Credit
Spread (18)
     Notional
Amount
       Fixed Rate
(Annualized)
     Termination
Date
       Value      Unrealized
Appreciation
(Depreciation)
 

Citigroup

       Markit CDX NA HY21 Index           Buy           3.11    $ 25,000,000           5.000      12/20/18         $ (2,029,942    $ (446,071

Interest Rate Swaps outstanding:

 

Clearing House      Notional
Amount
       Fund
Pay/Receive
Floating Rate
       Floating Rate Index        Fixed Rate
(Annualized)
     Fixed Rate
Payment
Frequency
       Termination
Date
       Value      Unrealized
Appreciation
(Depreciation)
 

Citigroup

     $ 37,000,000           Receive           3-Month
USD-LIBOR-BBA
          1.573      Semi-
Annually
          10/10/18         $ (141,112    $ (141,625

Futures Contracts outstanding:

 

Description      Contract
Position
       Number of
Contracts
     Contract
Expiration
       Notional
Amount at
Value
     Unrealized
Appreciation
(Depreciation)
 

U.S. Treasury 5-Year Note

       Short           (245      6/14         $ (29,143,516    $ 86,426   

U.S. Treasury Ultra Bond

       Short           (19      6/14           (2,744,906      (35,281
                                      $ (31,888,422    $ 51,145   

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

 

Nuveen Investments     17   


Nuveen High Income Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

     $ 16,251,719         $         $ 63,745       $ 16,315,464   

Exchange-Traded Funds

       8,693,250                             8,693,250   

Convertible Preferred Securities

       3,539,494                             3,539,494   

Variable Rate Senior Loan Interests

                 15,917,426           3,500,000         19,417,426   

$25 Par (or similar) Retail Preferred

       46,451,501           3,509,518                   49,961,019   

Corporate Bonds

                 735,325,293           10         735,325,303   

Convertible Bonds

                 8,984,125                   8,984,125   

$1,000 Par (or similar) Institutional Preferred

                 48,299,079                   48,299,079   

Asset-Backed Securities

                 2,239                   2,239   

Investment Companies

       13,814,539                             13,814,539   

Warrants

       201                     **       201   
Investments Purchased with Collateral from Securities Lending        161,787,634                             161,787,634   
Short-Term Investments:                  

Money Market Funds

       9,999,636                             9,999,636   
Investments in Derivatives:                  

Forward Foreign Currency Exchange Contracts*

                 (559,594                (559,594

Credit Default Swaps*

                 (446,071                (446,071

Interest Rate Swaps*

                 (141,625                (141,625

Futures Contracts*

       51,145                             51,145   
Total      $ 260,589,119         $ 810,890,390         $ 3,563,755       $ 1,075,043,264   
* Represents net unrealized appreciation (depreciation).
** Market value is zero.

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 March 31, 2014, the cost of investments (excluding investments in derivatives) was $1,054,315,304.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2014, were as follows:

 

Gross unrealized:           

Appreciation

     $ 35,157,305   

Depreciation

       (13,333,200
Net unrealized appreciation (depreciation) of investments      $ 21,824,105   

 

  18       Nuveen Investments


 

  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.

 

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

 

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

 

(4) Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $157,549,478.

 

(5) A copy of the most recent financial statements for the exchange-traded funds and investment companies in which the Fund invests can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.

 

(6) Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

 

(7) 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.

 

(8) 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.

 

(9) For fair value measurement disclosure purposes, $25 Par (or similar) Retail Preferred categorized as Level 2.

 

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

 

(11) Principal Amount (000) rounds to less than $1,000.

 

(12) 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 directed the Fund’s custodian to cease accruing additional income on the Fund’s records.

 

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

 

(14) The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

 

(15) The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund.

 

(16) Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of certain derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.

 

(17) The Fund entered into the credit default swaps to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning the referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.

 

(18) The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher likelihood of performance by the seller of protection.

 

DD1 Portion of investment purchased on a delayed delivery basis.

 

REIT Real Estate Investment Trust.

 

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

 

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

 

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.

 

CAD Canadian Dollar

 

EUR Euro

 

NOK Norwegian Krone

 

SEK Swedish Krona

 

USD-LIBOR-BBA United States Dollar-London Inter-Bank Offered Rate British Bankers’ Association.

 

Nuveen Investments     19   


Nuveen Inflation Protected Securities Fund

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1), (2)                        Value  
 

LONG-TERM INVESTMENTS – 97.4%

       
 

EXCHANGE-TRADED FUNDS – 0.1%

       
  19,000     

PowerShares Senior Loan Portfolio, (3)

                          $ 471,390   
 

Total Exchange-Traded Funds (cost $477,168)

                            471,390   
Shares     Description (1)   Coupon            Ratings (4)     Value  
 

CONVERTIBLE PREFERRED SECURITIES – 0.1%

       
 

Banks – 0.1%

       
  200     

Bank of America Corporation

    7.250             BB+      $ 228,842   
 

Metals & Mining – 0.0%

       
  5,000     

ArcelorMittal

    6.000             BB–        119,900   
 

Total Convertible Preferred Securities (cost $279,350)

                            348,742   
Shares     Description (1)   Coupon            Ratings (4)     Value  
 

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 0.1%

       
 

Capital Markets – 0.1%

       
  15,000     

UBS Preferred Funding Trust IV

    0.854             BBB–      $ 271,500   
 

Total $25 Par (or similar) Retail Preferred (cost $241,200)

                            271,500   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

CORPORATE BONDS – 7.3%

       
 

Airlines – 0.0%

       
$ 175     

Air Canada, 144A

    6.750     10/01/19        BB      $ 188,563   
 

Auto Components – 0.1%

       
  250     

Allison Transmission Inc., 144A, (3)

    7.125     5/15/19        B+        269,063   
  200     

Gestamp Funding Luxembourg SA, 144A

    5.625     5/31/20        BB        207,500   
  450     

Total Auto Components

                            476,563   
 

Automobiles – 0.2%

       
  300     

Chrysler GP/CG Company

    8.000     6/15/19        B1        328,500   
  250     

Jaguar Land Rover PLC, 144A

    8.125     5/15/21        BB        283,750   
  550     

Total Automobiles

                            612,250   
 

Banks – 0.2%

       
  200     

Banco do Nordeste do Brasil, 144A

    3.625     11/09/15        BBB–        202,750   
  385     

CIT Group Inc., 144A

    5.500     2/15/19        BB–        414,838   
  70     

Regions Financial Corporation

    7.750     11/10/14        BBB–        72,946   
  150     

ScotiaBank Peru SA, 144A

    4.500     12/13/27        A–        137,250   
  805     

Total Banks

                            827,784   

 

  20       Nuveen Investments


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

Building Products – 0.1%

       
$ 250     

Owens Corning Incorporated

    4.200     12/15/22        BBB–      $ 247,931   
 

Chemicals – 0.2%

       
  200     

Eagle Spinco Inc., 144A

    4.625     2/15/21        BB        197,750   
  250     

Hexion US Finance

    6.625     4/15/20        Ba3        258,750   
  200     

PolyOne Corporation, (3)

    5.250     3/15/23        BB        201,000   
  650     

Total Chemicals

                            657,500   
 

Commercial Services & Supplies – 0.2%

       
  250     

Clean Harbors Inc.

    5.250     8/01/20        BB+        257,500   
  250     

Covanta Energy Corporation, Synthetic Letter of Credit, (3)

    6.375     10/01/22        Ba3        265,625   
  500     

Total Commercial Services & Supplies

                            523,125   
 

Computers & Peripherals – 0.1%

       
  250     

Hewlett Packard Company

    3.750     12/01/20        A–        253,951   
 

Construction Materials – 0.1%

       
  200     

Norbord Inc., 144A

    5.375     12/01/20        Ba2        202,500   
 

Containers & Packaging – 0.1%

       
  325     

Reynolds Group, (3)

    7.125     4/15/19        B+        343,688   
 

Diversified Financial Services – 0.1%

       
  225     

Nationstar Mortgage LLC Capital Corporation, (3)

    7.875     10/01/20        B+        227,250   
 

Diversified Telecommunication Services – 0.1%

       
  250     

CyrusOne LP Finance

    6.375     11/15/22        B+        263,750   
  200     

Telecom Italia Capital, (3)

    7.175     6/18/19        BBB–        229,250   
  450     

Total Diversified Telecommunication Services

                            493,000   
 

Electric Utilities – 0.2%

       
  570     

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

    4.875     5/26/21        BBB+        594,225   
  200     

FirstEnergy Corporation

    4.250     3/15/23        Baa3        193,988   
  770     

Total Electric Utilities

                            788,213   
 

Energy Equipment & Services – 0.1%

       
  220     

Gulfmark Offshore Inc.

    6.375     3/15/22        BB–        227,700   
 

Food Products – 0.1%

       
  200     

Aramark Corporation

    5.750     3/15/20        BB–        211,250   
 

Gas Utilities – 0.1%

       
  250     

AmeriGas Finance LLC, (3)

    7.000     5/20/22        Ba2        273,125   
 

Health Care Providers & Services – 1.1%

       
  1,700     

Catholic Health Initiatives

    1.600     11/01/17        Aa3        1,666,296   
  250     

HCA Holdings Inc.

    6.250     2/15/21        B–        267,625   
  250     

HealthSouth Corporation

    5.750     11/01/24        BB–        256,250   
  1,715     

Mayo Clinic Rochester

    3.774     11/15/43        AA        1,516,448   
  3,915     

Total Health Care Providers & Services

                            3,706,619   

 

Nuveen Investments     21   


Nuveen Inflation Protected Securities Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Hotels, Restaurants & Leisure – 0.1%

       
$ 200     

Gaming and Leisure Products Inc., GLP Capital LP Financing II Inc., 144A

    4.375     11/01/18        BBB–      $ 205,250   
  200     

Wynn Macau Limited, 144A

    5.250     10/15/21        BB        203,500   
  400     

Total Hotels, Restaurants & Leisure

                            408,750   
 

Household Durables – 0.1%

       
  250     

Brookfield Residential Properties Inc., 144A

    6.500     12/15/20        BB–        266,250   
 

Independent Power & Renewable Electricity Producers – 0.2%

       
  317     

Calpine Corporation, 144A, (3)

    7.875     7/31/20        BB+        348,700   
  200     

Dynegy Holdings, Inc., 144A

    5.875     6/01/23        B+        196,500   
  517     

Total Independent Power & Renewable Electricity Producers

                            545,200   
 

Machinery – 0.1%

       
  250     

Harsco Corporation

    5.750     5/15/18        BBB–        267,500   
 

Media – 0.4%

       
  200     

Charter Communications, CCO Holdings LLC

    5.125     2/15/23        BB–        192,500   
  300     

Dish DBS Corporation

    4.250     4/01/18        BB–        313,125   
  200     

Gannett Company Inc., 144A

    5.125     7/15/20        Ba1        205,500   
  200     

Midcontinent Communications Finance Company, 144A

    6.250     8/01/21        B–        208,000   
  200     

Sirius XM Radio Inc., 144A, (3)

    4.250     5/15/20        BB        195,500   
  200     

WMG Acquisition Group, 144A, (3)

    6.000     1/15/21        B+        208,500   
  1,300     

Total Media

                            1,323,125   
 

Metals & Mining – 0.5%

       
  175     

Anglogold Holdings PLC, (3)

    8.500     7/30/20        Baa3        192,981   
  250     

ArcelorMittal, (3)

    6.750     2/25/22        BB+        274,373   
  250     

Cliffs Natural Resources Inc., (3)

    4.800     10/01/20        BBB–        245,471   
  250     

Coeur d’Alene Mines Corporation

    7.875     2/01/21        B+        251,250   
  200     

Commercial Metals Inc.

    4.875     5/15/23        BB+        192,000   
  200     

Eldorado Gold Corporation, 144A, (3)

    6.125     12/15/20        BB        200,000   
  150     

FMG Resources, 144A, (3)

    8.250     11/01/19        BB+        165,000   
  200     

Vedanta Resources PLC, 144A, (3)

    6.000     1/31/19        BB        200,000   
  1,675     

Total Metals & Mining

                            1,721,075   
 

Oil, Gas & Consumable Fuels – 1.0%

       
  200     

Bill Barrett Corporation, (3)

    7.000     10/15/22        B1        210,500   
  250     

Calumet Specialty Products

    7.625     1/15/22        B+        265,000   
  150     

CONSOL Energy Inc., (3)

    8.250     4/01/20        BB        162,938   
  225     

Continental Resources Inc., (3)

    5.000     9/15/22        BBB–        236,250   
  125     

Everest Acquisition LLC Finance

    7.750     9/01/22        B        140,313   
  250     

Linn Energy LLC Finance Corporation, 144A, (3)

    6.250     11/01/19        B+        260,625   
  250     

Martin Mid-Stream Partners LP Finance

    7.250     2/15/21        B–        262,188   
  100     

Murphy Oil USA Inc., 144A

    6.000     8/15/23        BB        103,250   

 

  22       Nuveen Investments


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

Oil, Gas & Consumable Fuels (continued)

       
$ 200     

Newfield Exploration Company

    5.625     7/01/24        BBB–      $ 207,500   
  250     

Northern Tier Energy LLC

    7.125     11/15/20        BB–        267,500   
  250     

PBF Holding Company LLC

    8.250     2/15/20        BB+        271,250   
  200     

Range Resources Corporation

    5.000     8/15/22        BB        204,000   
  500     

Regency Energy Partners Finance, (3)

    6.500     7/15/21        BB        536,249   
  175     

SM Energy Company

    6.625     2/15/19        BB–        187,250   
  150     

Targa Resources Inc., 144A, (3)

    4.250     11/15/23        BB        139,125   
  3,275     

Total Oil, Gas & Consumable Fuels

                            3,453,938   
 

Personal Products – 0.1%

       
  200     

Albea Beauty Holdings SA, 144A, (3)

    8.375     11/01/19        B+        217,000   
 

Pharmaceuticals – 0.2%

       
  250     

Endo Pharmaceutical Holdings Inc.

    7.000     12/15/20        B1        269,375   
  250     

VP Escrow Corporation, 144A

    6.375     10/15/20        B1        270,000   
  500     

Total Pharmaceuticals

                            539,375   
 

Real Estate Management & Development – 0.1%

       
  200     

Country Garden Holding Company, 144A, (3)

    11.125     2/23/18        Ba2        216,250   
 

Road & Rail – 0.1%

       
  175     

Hertz Corporation, (3)

    7.375     1/15/21        B        192,500   
 

Wireless Telecommunication Services – 1.3%

       
  250     

Digicel Limited, 144A

    7.000     2/15/20        B1        260,000   
  225     

Frontier Communications Corporation

    7.625     4/15/24        Ba2        235,125   
  3,060     

SBA Tower Trust, 144A

    3.598     4/15/43        BBB        2,990,897   
  200     

Softbank Corporation, 144A, (3)

    4.500     4/15/20        BB+        199,000   
  200     

Sprint Nextel Corporation, 144A, (3)

    7.000     3/01/20        BB+        230,500   
  400     

Wind Acquisition Finance SA, 144A

    7.250     2/15/18        BB        421,000   
  4,335     

Total Wireless Telecommunication Services

                            4,336,522   
$ 23,262     

Total Corporate Bonds (cost $23,709,340)

                          $ 23,748,497   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 0.1%

       
 

Capital Markets – 0.0%

       
$ 200     

Goldman Sachs Capital II

    4.000     N/A (6)        BB+      $ 154,000   
 

Insurance – 0.1%

       
  175     

Genworth Financial Inc.

    6.150     11/15/66        Ba1        161,656   
$ 375     

Total $1,000 Par (or similar) Institutional Preferred (cost $330,069)

                            315,656   

 

Nuveen Investments     23   


Nuveen Inflation Protected Securities Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000)
    Description (1)   Optional Call
Provisions (7)
           Ratings (4)     Value  
 

MUNICIPAL BONDS – 1.1%

       
 

Illinois – 0.4%

       
$ 1,130     

Illinois State, General Obligation Bonds, Taxable Series 2011, 5.877%, 3/01/19

    No Opt. Call                A–      $ 1,268,719   
 

Maryland – 0.3%

       
  1,250     

Baltimore County, Maryland, General Obligation Bonds, Taxable, Series 2012, 0.951%, 8/01/17

    No Opt. Call                AAA        1,246,713   
 

Ohio – 0.4%

       
  820     

Hamilton County, Ohio, Sewer System Revenue Bonds, Metropolitan Sewer District of Greater Cincinnati, Refunding Series 2013B, 1.233%, 12/01/16

    No Opt. Call          AA+        827,642   
  400     

Kings Local School District, Warren County, Ohio, General Obligation School Improvement Bonds, Federally Taxable, Series 2013B, 3.750%, 12/01/18

    No Opt. Call                AA        429,980   
  1,220     

Total Ohio

                            1,257,622   
$ 3,600     

Total Municipal Bonds (cost $3,637,381)

                            3,773,054   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 81.9%

       
$ 6,794     

U.S. Treasury Bonds

    3.875     4/15/29        Aaa      $ 9,591,709   
  7,201     

U.S. Treasury Inflation Indexed Obligations, (3)

    0.125     4/15/16        Aaa        7,395,582   
  20,551     

U.S. Treasury Inflation Indexed Obligations

    0.125     4/15/17        Aaa        21,130,657   
  20,021     

U.S. Treasury Inflation Indexed Obligations, (3)

    0.125     4/15/18        Aaa        20,480,696   
  7,719     

U.S. Treasury Inflation Indexed Obligations

    2.125     1/15/19        Aaa        8,620,074   
  12,975     

U.S. Treasury Inflation Indexed Obligations

    1.375     1/15/20        Aaa        14,022,242   
  15,172     

U.S. Treasury Inflation Indexed Obligations

    1.250     7/15/20        Aaa        16,349,966   
  18,392     

U.S. Treasury Inflation Indexed Obligations, (3)

    1.125     1/15/21        Aaa        19,524,571   
  16,424     

U.S. Treasury Inflation Indexed Obligations

    0.625     7/15/21        Aaa        16,910,437   
  24,287     

U.S. Treasury Inflation Indexed Obligations, (3)

    0.125     1/15/22        Aaa        23,793,927   
  13,213     

U.S. Treasury Inflation Indexed Obligations

    0.125     7/15/22        Aaa        12,942,835   
  19,777     

U.S. Treasury Inflation Indexed Obligations

    0.125     1/15/23        Aaa        19,135,307   
  7,554     

U.S. Treasury Inflation Indexed Obligations

    0.375     7/15/23        Aaa        7,471,080   
  3,509     

U.S. Treasury Inflation Indexed Obligations

    0.625     1/15/24        Aaa        3,520,848   
  9,828     

U.S. Treasury Inflation Indexed Obligations

    2.375     1/15/25        Aaa        11,573,618   
  6,158     

U.S. Treasury Inflation Indexed Obligations

    2.000     1/15/26        Aaa        7,011,855   
  5,046     

U.S. Treasury Inflation Indexed Obligations

    2.375     1/15/27        Aaa        5,989,791   
  3,121     

U.S. Treasury Inflation Indexed Obligations

    1.750     1/15/28        Aaa        3,457,733   
  3,941     

U.S. Treasury Inflation Indexed Obligations

    3.625     4/15/28        Aaa        5,357,647   
  4,026     

U.S. Treasury Inflation Indexed Obligations

    2.500     1/15/29        Aaa        4,888,712   
  5,038     

U.S. Treasury Inflation Indexed Obligations

    2.125     2/15/40        Aaa        6,032,068   
  5,282     

U.S. Treasury Inflation Indexed Obligations

    2.125     2/15/41        Aaa        6,347,070   

 

  24       Nuveen Investments


Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
$ 6,920     

U.S. Treasury Inflation Indexed Obligations

    0.750     2/15/42        Aaa      $ 6,030,460   
  3,052     

U.S. Treasury Inflation Indexed Obligations

    0.625     2/15/43        Aaa        2,555,792   
  7,115     

U.S. Treasury Notes

    1.875     7/15/19        Aaa        7,919,294   
$ 253,116     

Total U.S. Government and Agency Obligations (cost $268,235,520)

                            268,053,971   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 5.8%

       
$ 2,000     

Commercial Mortgage Pass-Through Certificates Series 2012-CR4

    1.801     10/17/45        AAA      $ 1,994,912   
  730     

DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-LC3A

    3.642     8/12/44        Aaa        767,756   
  680     

Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series 2013-K712

    3.368     5/25/45        A–        671,106   
  5,923     

Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-GG10, (3)

    5.819     8/10/45        A        6,567,924   
  3,800     

Greenwich Capital Commercial Funding Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-GG11

    5.736     12/10/49        AAA        4,232,489   
  879     

JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C1

    3.853     6/15/43        Aaa        903,869   
  100     

Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1

    4.125     2/25/41        AAA        101,615   
  2,000     

UBS Barclays Commercial Mortgage Trust 2012-C4

    2.850     12/12/45        AAA        1,903,622   
  1,920     

Wells Fargo - Royal Bank of Scotland Commercial Mortgage Trust, Series 2012-C10 A3

    2.875     12/15/45        Aaa        1,840,618   
$ 18,032     

Total Asset-Backed and Mortgage-Backed Securities (cost $19,421,603)

                            18,983,911   
Shares     Description (1), (2)                        Value  
 

INVESTMENT COMPANIES – 0.2%

       
  10,500     

Blackrock Credit Allocation Income Trust IV

        $ 141,960   
  5,000     

Invesco Dynamic Credit Opportunities Fund

          64,700   
  35,000     

Pimco Income Strategy Fund

          410,550   
  5,000     

Pioneer Floating Rate Trust, (3)

                            63,200   
 

Total Investment Companies (cost $667,217)

                            680,410   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

SOVEREIGN DEBT – 0.7%

       
 

Canada – 0.6%

       
$ 1,500     

Quebec Province

    7.500     7/15/23        Aa2      $ 1,957,450   
 

Poland – 0.1%

       
  250     

Republic of Poland

    6.375     7/15/19        A2        293,313   
$ 1,750     

Total Sovereign Debt (cost $2,320,067)

                            2,250,763   
 

Total Long-Term Investments (cost $319,318,915)

                            318,897,894   

 

Nuveen Investments     25   


Nuveen Inflation Protected Securities Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)   Coupon               Value  
 

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 23.0%

  

     
 

Money Market Funds – 23.0%

       
  75,452,734     

Mount Vernon Securities Lending Trust Prime Portfolio, (9)

    0.182% (8)              $ 75,452,734   
 

Total Investments Purchased with Collateral from Securities Lending (cost $75,452,734)

  

            75,452,734   
Shares     Description (1)   Coupon               Value  
 

SHORT-TERM INVESTMENTS – 2.1%

       
 

Money Market Funds – 2.1%

       
  6,720,920     

First American Treasury Obligations Fund, Class Z

    0.000% (8)              $ 6,720,920   
 

Total Short-Term Investments (cost $6,720,920)

                    6,720,920   
 

Total Investments (cost $401,492,569) – 122.5%

                    401,071,548   
 

Other Assets Less Liabilities – (22.5)%

                    (73,652,429
 

Net Assets – 100%

                    $327,419,119   

Investments in Derivatives as of March 31, 2014

Interest Rate Swaps outstanding:

 

Clearing House      Notional
Amount
       Fund
Pay/Receive
Floating Rate
       Floating Rate Index        Fixed Rate
(Annualized)
     Fixed Rate
Payment
Frequency
     Termination
Date
       Value      Unrealized
Appreciation
(Depreciation)
 

Citigroup

     $ 3,500,000           Receive           3-Month USD-LIBOR-BBA           2.739    Semi-Annually        11/21/23         $ (15,420    $ (15,833

Futures Contracts outstanding:

 

Description      Contract
Position
       Number of
Contracts
       Contract
Expiration
       Notional
Amount
at Value*
       Unrealized
Appreciation
(Depreciation)
 

U.S. Treasury 2-Year Note

       Short           (28        6/14         $ (6,147,750      $ 5,621   

U.S. Treasury 5-Year Note

       Short           (253        6/14           (30,095,141        128,347   

U.S. Treasury 10-Year Note

       Long           64           6/14           7,904,000           (54,714

U.S. Treasury Long Bond

       Long           33           6/14           4,396,219           28,026   

U.S. Treasury Ultra Bond

       Short           (24        6/14           (3,467,250        (44,566
                                        $ (27,409,922      $ 62,714   
* The aggregate Notional Amount at Value of long and short positions is $12,300,219 and $(39,710,141), respectively.

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

 

  26       Nuveen 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:                    

Exchange-Traded Funds

     $ 471,390         $         $   —         $ 471,390   

Convertible Preferred Securities

       348,742                               348,742   

$25 Par (or similar) Retail Preferred

       271,500                               271,500   

Corporate Bonds

                 23,748,497                     23,748,497   

$1,000 Par (or similar) Institutional Preferred

                 315,656                     315,656   

Municipal Bonds

                 3,773,054                     3,773,054   

U.S. Government and Agency Obligations

                 268,053,971                     268,053,971   

Asset-Backed and Mortgage-Backed Securities

                 18,983,911                     18,983,911   

Investment Companies

       680,410                               680,410   

Sovereign Debt

                 2,250,763                     2,250,763   
Investments Purchased with Collateral from Securities Lending        75,452,734                               75,452,734   
Short-Term Investments:                    

Money Market Funds

       6,720,920                               6,720,920   
Investments in Derivatives:                    

Interest Rate Swaps*

                 (15,833                  (15,833

Futures Contracts*

       62,714                               62,714   
Total      $ 84,008,410         $ 317,110,019         $         $ 401,118,429   
*Represents net unrealized appreciation (depreciation).

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. 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 March 31, 2014, the cost of investments (excluding investments in derivatives) was $401,873,827.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2014, were as follows:

 

Gross unrealized:           

Appreciation

     $ 6,419,629   

Depreciation

       (7,221,908
Net unrealized appreciation (depreciation) of investments      $ (802,279

 

  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.

 

(2) A copy of the most recent financial statements for the exchange-traded funds and investment companies in which the Fund invests can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.

 

(3) Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $73,854,998.

 

(4) 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.

 

(5) For fair value measurement disclosure purposes, Convertible Preferred Securities categorized as Level 2.

 

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

 

(7) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.

 

(8) The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

 

(9) The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund.

 

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.

 

USD-LIBOR-BBA United States Dollar-London Inter-Bank Offered Rate British Bankers’ Association.

 

Nuveen Investments     27   


Nuveen Core Bond Fund

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

LONG-TERM INVESTMENTS – 99.1%

       
 

CORPORATE BONDS – 46.1%

       
 

Banks – 4.9%

       
$ 1,275     

Abbey National Treasury Services PLC of London

    3.050     8/23/18        A      $ 1,312,697   
  1,000     

Australia and New Zealand Banking Group Limited, 144A

    2.400     11/23/16        Aaa        1,032,950   
  1,245     

Banco Bradesco S.A. Grand Cayman, 144A, (3)

    4.125     5/16/16        Baa1        1,301,025   
  1,910     

Bancolombia SA

    5.950     6/03/21        Baa2        2,038,925   
  3,395     

Bank of America Corporation

    4.000     4/01/24        A        3,391,004   
  925     

BBVA Bancomer SA Texas, 144A

    4.500     3/10/16        A2        978,188   
  1,515     

Rabobank Nederland

    3.875     2/08/22        Aa2        1,568,970   
  1,000     

Royal Bank of Scotland Group PLC

    6.400     10/21/19        A        1,152,652   
  1,460     

Sovereign Bank

    8.750     5/30/18        Baa2        1,741,050   
  3,595     

Stadshypotek AB, 144A, (3)

    1.875     10/02/19        Aaa        3,496,066   
  17,320     

Total Banks

                            18,013,527   
 

Beverages – 0.4%

       
  580     

Anheuser Busch InBev Finance Inc.

    3.700     2/01/24        A        585,969   
  1,070     

Anheuser Busch InBev

    2.500     7/15/22        A        1,010,282   
  1,650     

Total Beverages

                            1,596,251   
 

Capital Markets – 2.9%

       
  3,125     

Goldman Sachs Group, Inc.

    6.000     6/15/20        A        3,588,466   
  1,605     

Goldman Sachs Group, Inc.

    5.250     7/27/21        A        1,776,719   
  1,090     

Goldman Sachs Group, Inc., (3)

    6.750     10/01/37        A–        1,248,616   
  1,165     

Morgan Stanley Dean Witter & Company

    4.875     11/01/22        BBB+        1,224,163   
  2,250     

Morgan Stanley

    6.625     4/01/18        A        2,622,962   
  335     

Morgan Stanley, (3)

    3.750     2/25/23        A        332,876   
  9,570     

Total Capital Markets

                            10,793,802   
 

Commercial Services & Supplies – 0.4%

       
  1,195     

R.R. Donnelley & Sons Company, (3)

    7.625     6/15/20        BB        1,374,250   
 

Communications Equipment – 0.3%

       
  875     

Motorola, Inc.

    6.000     11/15/17        BBB        1,000,164   
 

Computers & Peripherals – 0.4%

       
  1,645     

Hewlett Packard Company, (3)

    2.750     1/14/19        A–        1,655,878   
 

Construction & Engineering – 0.8%

       
  3,000     

ABB Finance USA Inc.

    2.875     5/08/22        A        2,917,413   
 

Diversified Financial Services – 5.0%

       
  2,500     

Bank of America Corporation, (3)

    5.750     12/01/17        A        2,830,355   

 

  28       Nuveen Investments


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

Diversified Financial Services (continued)

       
$ 2,000     

Citigroup Inc.

    4.500     1/14/22        A      $ 2,119,100   
  1,250     

Deutsche Bank AG London

    2.500     2/13/19        A+        1,253,884   
  1,220     

General Electric Capital Corporation

    5.625     5/01/18        AA+        1,394,315   
  1,530     

General Electric Capital Corporation, (3)

    5.300     2/11/21        AA        1,720,864   
  1,110     

General Electric Capital Corporation

    6.875     1/10/39        AA+        1,461,805   
  1,900     

JPMorgan Chase & Company

    4.500     1/24/22        A+        2,048,356   
  3,065     

JPMorgan Chase & Company, (3)

    3.200     1/25/23        A+        2,972,039   
  1,240     

JPMorgan Chase & Company

    3.375     5/01/23        A        1,173,808   
  1,000     

JPMorgan Chase & Company

    6.400     5/15/38        A+        1,239,312   
  16,815     

Total Diversified Financial Services

                            18,213,838   
 

Diversified Telecommunication Services – 1.9%

       
  2,250     

AT&T, Inc.

    5.550     8/15/41        A        2,362,075   
  2,438     

Verizon Communications

    8.750     11/01/18        A–        3,113,633   
  1,425     

Verizon Communications

    5.150     9/15/23        A–        1,559,405   
  6,113     

Total Diversified Telecommunication Services

                            7,035,113   
 

Electric Utilities – 0.8%

       
  1,615     

Exelon Generation Co. LLC, (3)

    4.250     6/15/22        BBB+        1,637,896   
  1,350     

Origin Energy Finance Limited, 144A

    3.500     10/09/18        BBB        1,374,218   
  2,965     

Total Electric Utilities

                            3,012,114   
 

Energy Equipment & Services – 1.1%

       
  1,000     

Diamond Offshore Drilling Inc.

    5.700     10/15/39        A        1,093,268   
  2,765     

Ensco PLC

    4.700     3/15/21        BBB+        2,970,835   
  3,765     

Total Energy Equipment & Services

                            4,064,103   
 

Food Products – 0.5%

       
  2,000     

Mondelez International Inc.

    2.250     2/01/19        Baa1        1,981,710   
 

Health Care Providers & Services – 1.9%

       
  2,965     

Mayo Clinic Rochester

    3.774     11/15/43        AA        2,621,730   
  2,500     

UnitedHealth Group Incorporated, (3)

    2.875     3/15/22        A        2,430,583   
  2,000     

Wellpoint Inc.

    3.125     5/15/22        A–        1,913,930   
  7,465     

Total Health Care Providers & Services

                            6,966,243   
 

Household Products – 0.6%

       
  2,000     

Macys Retail Holdings Inc.

    4.375     9/01/23        BBB+        2,070,362   
 

Insurance – 2.6%

       
  1,000     

AFLAC Insurance

    6.450     8/15/40        A–        1,237,257   
  1,500     

American International Group, Inc.

    8.250     8/15/18        A–        1,874,987   
  1,170     

Genworth Holdings Inc.

    4.800     2/15/24        BBB–        1,217,115   
  2,305     

Hartford Financial Services Group Inc.

    6.000     1/15/19        BBB        2,668,570   
  1,370     

Lincoln National Corporation

    4.200     3/15/22        A–        1,435,605   

 

Nuveen Investments     29   


Nuveen Core Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Insurance (continued)

       
$ 1,000     

Swiss Re Treasury US Corporation, 144A

    4.250     12/06/42        AA–      $ 933,039   
  8,345     

Total Insurance

                            9,366,573   
 

IT Services – 0.5%

       
  1,750     

Computer Sciences Corporation

    4.450     9/15/22        BBB+        1,786,514   
 

Leisure Equipment & Products – 0.7%

       
  2,855     

Hyatt Hotels Corporation

    3.375     7/15/23        BBB        2,701,818   
 

Media – 3.6%

       
  1,000     

21st Century Fox America Inc.

    4.000     10/01/23        BBB+        1,017,861   
  1,845     

British Sky Broadcasting Group PLC, 144A

    6.100     2/15/18        BBB+        2,104,267   
  1,640     

DIRECTV Holdings LLC, (3)

    3.800     3/15/22        BBB        1,622,844   
  1,460     

Discovery Communications Inc., (3)

    5.050     6/01/20        BBB        1,620,098   
  1,460     

NBC Universal Media LLC

    6.400     4/30/40        A–        1,806,309   
  2,420     

News America Holdings Inc.

    6.650     11/15/37        BBB+        2,955,781   
  1,500     

Viacom Inc.

    7.875     7/30/30        BBB        1,966,011   
  11,325     

Total Media

                            13,093,171   
 

Metals & Mining – 4.7%

       
  2,090     

Alcoa Inc., (3)

    5.400     4/15/21        BBB–        2,192,742   
  1,805     

Anglogold Holdings PLC

    6.500     4/15/40        Baa3        1,570,928   
  2,000     

ArcelorMittal, (3)

    6.750     2/25/22        BB+        2,195,000   
  1,230     

Freeport McMoRan Copper & Gold, Inc., (3)

    3.550     3/01/22        BBB        1,174,673   
  2,625     

Newmont Mining Corporation, (3)

    3.500     3/15/22        Baa1        2,381,418   
  1,490     

Nucor Corporation

    4.000     8/01/23        A        1,485,983   
  3,000     

Rio Tinto Finance USA PLC, (3)

    2.875     8/21/22        A–        2,855,383   
  1,250     

Teck Resources Limited

    6.250     7/15/41        BBB        1,290,528   
  1,940     

Vale Overseas Limited, (3)

    4.375     1/11/22        A–        1,926,086   
  17,430     

Total Metals & Mining

                            17,072,741   
 

Oil, Gas & Consumable Fuels – 5.5%

       
  2,825     

Apache Corporation

    4.250     1/15/44        A–        2,649,664   
  1,820     

Cenovus Energy Inc., (3)

    4.450     9/15/42        BBB+        1,725,442   
  935     

Chevron Corporation

    2.427     6/24/20        Aa1        928,320   
  2,500     

EOG Resources Inc.

    4.100     2/01/21        A–        2,691,863   
  1,685     

Marathon Petroleum Corporation

    6.500     3/01/41        BBB        2,040,218   
  1,500     

Nabors Industries Inc., (3)

    4.625     9/15/21        BBB        1,549,659   
  2,385     

Petrobras International Finance Company

    5.375     1/27/21        Baa1        2,412,001   
  2,000     

Rowan Companies Inc.

    4.875     6/01/22        BBB–        2,069,034   
  1,455     

Southwestern Energy Company, (3)

    4.100     3/15/22        BBB–        1,495,312   
  2,575     

Spectra Energy Partners LP, (3)

    4.750     3/15/24        BBB        2,713,301   
  19,680     

Total Oil, Gas & Consumable Fuels

                            20,274,814   

 

  30       Nuveen Investments


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

Pharmaceuticals – 0.7%

       
$ 2,385     

Perrigo Company Limited, 144A, (3)

    4.000     11/15/23        BBB      $ 2,384,077   
 

Real Estate Investment Trust – 1.4%

       
  2,405     

American Tower Company, (3)

    5.000     2/15/24        BBB        2,504,817   
  1,385     

Digital Realty Trust Inc.

    3.625     10/01/22        BBB        1,285,902   
  1,170     

Piedmont Operating Partnership LP

    4.450     3/15/24        BBB        1,167,678   
  4,960     

Total Real Estate Investment Trust

                            4,958,397   
 

Real Estate Management & Development – 0.3%

       
  1,255     

WP Carey Inc.

    4.600     4/01/24        Baa2        1,254,498   
 

Road & Rail – 0.5%

       
  1,785     

Burlington Northern Santa Fe Corporation

    4.375     9/01/42        A3        1,690,183   
 

Semiconductors & Equipment – 0.7%

       
  1,040     

Applied Materials Inc.

    4.300     6/15/21        A–        1,119,636   
  1,250     

Intel Corporation

    4.800     10/01/41        A+        1,291,549   
  2,290     

Total Semiconductors & Equipment

                            2,411,185   
 

Tobacco – 0.9%

       
  1,895     

Lorillard Tobacco, (3)

    6.875     5/01/20        Baa2        2,216,187   
  1,215     

Reynolds American Inc.

    3.250     11/01/22        Baa2        1,143,073   
  3,110     

Total Tobacco

                            3,359,260   
 

Transportation Infrastructure – 1.0%

       
  2,450     

Asciano Finance, 144A

    5.000     4/07/18        Baa2        2,630,854   
  1,000     

Sydney Airport Finance Company Party Limited, 144A

    3.900     3/22/23        BBB        978,170   
  3,450     

Total Transportation Infrastructure

                            3,609,024   
 

Wireless Telecommunication Services – 1.1%

       
  2,020     

SBA Tower Trust, 144A

    3.598     4/15/43        BBB        1,974,384   
  2,200     

Vodafone Group PLC

    1.500     2/19/18        A–        2,163,061   
  4,220     

Total Wireless Telecommunication Services

                            4,137,445   
$ 161,218     

Total Corporate Bonds (cost $165,724,095)

                            168,794,468   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 1.7%

       
 

Banks – 0.6%

       
$ 2,220     

Wachovia Capital Trust III

    5.570     N/A (4)        BBB+      $ 2,133,975   
 

Capital Markets – 0.2%

       
  1,165     

Goldman Sachs Capital II

    4.000     N/A (4)        BB+        897,050   

 

Nuveen Investments     31   


Nuveen Core Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Insurance – 0.9%

       
$ 1,650     

Catlin Insurance Company Limited, 144A

    7.249     N/A (4)        BBB+      $ 1,703,625   
  1,530     

ZFS Finance USA Trust V, 144A

    6.500     5/09/37        A        1,640,925   
  3,180     

Total Insurance

                            3,344,550   
$ 6,565     

Total $1,0000 (Par or Similar) Institutional Preferred (cost $5,984,871)

                            6,375,575   
Principal
Amount (000)
    Description (1)          Optional Call
Provisions (5)
    Ratings (2)     Value  
 

MUNICIPAL BONDS – 1.8%

       
 

Illinois – 0.5%

       
$ 1,735     

Illinois State, General Obligation Bonds, Taxable Series 2011, 5.877%, 3/01/19

            No Opt. Call        A–      $ 1,947,989   
 

Nevada – 0.7%

       
  2,500     

Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Taxable Series 2011B, 3.176%, 6/01/17

            No Opt. Call        AA+        2,634,875   
 

New York – 0.6%

       
  1,990     

Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Second Series 2014, 5.310%, 8/01/46

            8/24 at 100.00        AA–        2,087,331   
$ 6,225     

Total Municipal Bonds (cost $6,225,000)

                            6,670,195   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 3.4%

       
$ 3,500     

Fannie Mae Notes, (3)

    0.750     12/19/14        Aaa      $ 3,515,596   
  4,595     

Federal National Mortgage Association, (3)

    2.375     7/28/15        Aaa        4,725,043   
  2,055     

Freddie Mac Reference Notes

    5.000     12/14/18        Aa2        2,333,027   
  60     

Freddie Mac Reference Notes

    1.750     5/30/19        Aaa        59,458   
  2,000     

U.S. Treasury Bonds

    2.750     11/15/42        Aaa        1,704,062   
$ 12,210     

Total U.S. Government and Agency Obligations (cost $12,015,620)

                            12,337,186   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 45.7%

       
$ 1,590     

321 Henderson Receivables LLC, Series 2010-3A

    3.820     12/15/48        Aaa      $ 1,668,978   
  2     

Ally Auto Receivables Trust 2011-3

    0.970     8/17/15        Aaa        1,811   
  4,415     

AmeriCold LLC Trust, Series 2010

    2.500     1/17/29        AAA        4,424,020   
  — (6)     

Amresco Residential Securities Corporation, Mortgage Loan Pass-Through Certificates, Series 1997-3

    6.960     3/25/27        Baa2        76   
  4,340     

Cabela’s Master Credit Card Trust, Series 2010-2A

    2.290     9/15/18        AAA        4,443,652   
  2,000     

Citigroup Commercial Mortgage Trust Series 2012-GC8

    3.024     9/12/45        Aaa        1,952,050   
  1     

ContiMortgage Home Equity Loan Trust, Series 1997-2

    7.090     4/15/28        AAA        957   
  4,177     

Credit Suisse Commercial Mortgage Trust, Series 2013-6

    3.500     8/25/43        AAA        4,007,061   
  4,821     

Credit Suisse Commercial Mortgage Trust 2013-IVR4

    3.000     7/25/43        AAA        4,748,986   

 

  32       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

       
$ 3,643     

Fannie Mae Mortgage Pool AB2085

    4.000     1/01/41        Aaa      $ 3,787,308   
  3,719     

Fannie Mae Mortgage Pool AB3194

    4.500     6/01/41        Aaa        3,969,127   
  3,739     

Fannie Mae Mortgage Pool AB9659

    3.000     6/01/43        Aaa        3,615,529   
  1,644     

Fannie Mae Mortgage Pool AD0706

    2.298     3/01/38        Aaa        1,752,391   
  3,067     

Fannie Mae Mortgage Pool AD1593

    4.500     2/01/40        Aaa        3,272,120   
  1,847     

Fannie Mae Mortgage Pool AE0058

    2.351     7/01/36        Aaa        1,967,606   
  3,726     

Fannie Mae Mortgage Pool AE0217

    4.500     8/01/40        Aaa        3,975,769   
  2,646     

Fannie Mae Mortgage Pool AE0981

    3.500     3/01/41        Aaa        2,663,366   
  1,313     

Fannie Mae Mortgage Pool AH3804

    4.000     2/01/41        Aaa        1,364,736   
  3,708     

Fannie Mae Mortgage Pool AH5575

    4.000     2/01/41        Aaa        3,853,842   
  1,678     

Fannie Mae Mortgage Pool AH5583

    4.500     2/01/41        Aaa        1,791,509   
  3,854     

Fannie Mae Mortgage Pool AH8954

    4.000     4/01/41        Aaa        4,005,959   
  5,091     

Fannie Mae Mortgage Pool AJ7547

    4.000     1/01/42        Aaa        5,292,936   
  4,022     

Fannie Mae Mortgage Pool AJ9355

    3.000     1/01/27        Aaa        4,135,942   
  1,940     

Fannie Mae Mortgage Pool AL0160

    4.500     5/01/41        Aaa        2,076,827   
  3,248     

Fannie Mae Mortgage Pool AL2720

    3.000     11/01/27        Aaa        3,340,395   
  3,708     

Fannie Mae Mortgage Pool AL3617

    3.500     9/01/27        Aaa        3,889,712   
  2,491     

Fannie Mae Mortgage Pool AO9636

    2.500     7/01/27        Aaa        2,496,934   
  4,684     

Fannie Mae Mortgage Pool MA1028

    4.000     4/01/42        Aaa        4,869,682   
  3,848     

Fannie Mae Mortgage Pool MA1675

    3.500     11/01/23        Aaa        4,052,180   
  565     

Fannie Mae Mortgage Pool 725111

    2.320     9/01/33        Aaa        601,817   
  1,403     

Fannie Mae Mortgage Pool 725205

    5.000     3/01/34        Aaa        1,536,812   
  2,942     

Fannie Mae Mortgage Pool 819652

    2.465     3/01/35        Aaa        3,099,324   
  423     

Fannie Mae Mortgage Pool 848390

    1.914     12/01/35        Aaa        445,103   
  2,074     

Fannie Mae Mortgage Pool 879906

    2.553     10/01/33        Aaa        2,217,922   
  777     

Fannie Mae Mortgage Pool 886034

    2.685     7/01/36        Aaa        833,639   
  2,327     

Fannie Mae Mortgage Pool 960605

    5.000     8/01/37        Aaa        2,538,919   
  668     

Fannie Mae Mortgage Pool 995949

    2.456     9/01/36        Aaa        710,787   
  4     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-89 K

    6.500     7/25/20        Aaa        4,488   
  1,141     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2003-52 NF

    0.554     6/25/23        Aaa        1,145,008   
  3,040     

Fannie Mae TBA Mortgage Pool, (WI/DD)

    4.500     TBA        Aaa        3,242,825   
  6     

Federal Home Loan Mortgage Corporation, REMIC 1167 E

    7.500     11/15/21        Aaa        7,033   
  14     

Federal Home Loan Mortgage Corporation, REMIC 1286 A

    6.000     5/15/22        Aaa        15,499   
  1,366     

Federal Home Loan Mortgage Corporation, REMIC 2750 HE

    5.000     2/15/19        Aaa        1,440,130   
  594     

Federal Home Loan Mortgage Corporation, REMIC 2863 HF

    0.655     2/15/19        Aaa        598,192   
  4,865     

Fifth Third Auto Trust, Series 2013 A A3

    0.610     9/15/17        AAA        4,868,566   
  2,588     

Freddie Mac Gold Mortgage Pool J14842

    3.500     3/01/26        Aaa        2,716,123   
  4,524     

Freddie Mac Gold Pool C09000

    3.500     6/01/42        Aaa        4,549,629   

 

Nuveen Investments     33   


Nuveen Core Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

       
$ 2,193     

Freddie Mac Gold Pool G05852

    5.500     3/01/39        Aaa      $ 2,407,042   
  3,315     

Freddie Mac Gold Pool J13711

    3.500     12/01/25        Aaa        3,478,409   
  445     

Freddie Mac Gold Pool 786281

    2.482     1/01/28        Aaa        479,021   
  397     

Freddie Mac Gold Pool 847190

    2.318     4/01/29        Aaa        413,623   
  1,374     

Freddie Mac Gold Pool 847209

    2.265     10/01/30        Aaa        1,430,801   
  354     

Freddie Mac Gold Pool 847161

    2.346     5/01/31        Aaa        378,341   
  1,028     

Freddie Mac Gold Pool 847210

    2.339     9/01/33        Aaa        1,101,931   
  1,867     

Freddie Mac Gold Pool 848282

    2.418     6/01/38        Aaa        1,984,604   
  1,421     

Freddie Mac Mortgage Pool, Various A96544

    3.500     1/01/41        Aaa        1,428,688   
  880     

Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series 2013-K712

    3.368     5/25/45        A–        868,490   
  86     

Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2006-GG6

    5.506     4/10/38        AAA        86,440   
  4,556     

Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-GG10, (3)

    5.819     8/10/45        A        5,052,250   
  4,958     

Government National Mortgage Association Pool AA5391

    3.500     6/15/42        Aaa        5,066,865   
  1,742     

Invitation Homes Trust 2013-SFR1

    1.400     12/17/30        Aaa        1,742,486   
  1,761     

Master Resecuritization Trust 2009-1

    6.000     10/25/36        A        1,888,678   
  345     

Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1

    4.125     2/25/41        AAA        351,516   
  183     

Structured Adjustable Rate Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2004-11

    2.535     8/25/34        N/R        181,955   
  1,876     

Structured Agency Credit Risk Debt Notes, 2013-DN2

    1.604     11/25/23        Baa1        1,886,687   
  301     

U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2006-10A

    5.408     2/10/16        Aaa        315,827   
  4,267     

U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates, Series 2010-P10B

    3.215     9/01/20        Aaa        4,347,601   
  4,205     

UBS Barclays Commercial Mortgage Trust 2012-C4

    2.850     12/12/45        AAA        4,002,365   
  3,857     

United States Department of Veterans, Affairs, Guaranteed REMIC Pass-Through Certificates, Vendee Mortgage Trust, Series 2011-1

    3.750     2/15/35        Aaa        4,054,226   
  478     

Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-WHl8

    0.235     6/15/20        Aaa        473,497   
  2,667     

Walter Investment Management Company Capital Trust, Series 2012-AA

    4.549     10/16/50        BBB        2,699,621   
  3,220     

Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3

    4.375     3/17/44        Aaa        3,442,396   
$ 162,056     

Total Asset-Backed and Mortgage-Backed Securities (cost $166,135,814)

                            167,556,637   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

SOVEREIGN DEBT – 0.4%

       
 

Mexico – 0.4%

       
$ 1,400     

United Mexican States

    5.625     1/15/17        A3      $ 1,557,500   
$ 1,400     

Total Sovereign Debt (cost $1,387,694)

                            1,557,500   
 

Total Long-Term Investments (cost $357,473,094)

                            363,291,561   

 

  34       Nuveen Investments


Shares     Description (1)   Coupon               Value  
 

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 12.5%

 
 

Money Market Funds – 12.5%

       
  45,653,929     

Mount Vernon Securities Lending Trust Prime Portfolio, (8)

    0.182% (7)                $   45,653,929   
 

Total Investments Purchased with Collateral from Securities Lending (cost $45,653,929)

                    45,653,929   
Shares     Description (1)   Coupon               Value  
 

SHORT-TERM INVESTMENTS – 0.8%

       
 

Money Market Funds – 0.8%

       
  2,851,392     

First American Treasury Obligations Fund, Class Z

    0.000% (7)                $     2,851,392   
 

Total Short-Term Investments (cost $2,851,392)

                    2,851,392   
 

Total Investments (cost $405,978,415) – 112.4%

                    411,796,882   
 

Other Assets Less Liabilities – (12.4)%

                    (45,553,027
 

Net Assets – 100%

                    $366,243,855   

Investments in Derivatives as of March 31, 2014

Interest Rate Swaps outstanding:

 

Clearing
House
     Notional
Amount
       Fund
Pay/Receive
Floating Rate
       Floating
Rate Index
       Fixed Rate
(Annualized)
     Fixed Rate
Payment
Frequency
       Termination
Date
       Value      Unrealized
Appreciation
(Depreciation)
 

Citigroup

     $ 5,000,000           Receive           3-Month
USD-LIBOR-BBA
          2.739      Semi-Annually           11/21/23         $ (22,029    $ (22,453

Futures Contracts outstanding:

 

Description      Contract
Position
       Number of
Contracts
       Contract
Expiration
       Notional
Amount
at Value*
       Unrealized
Appreciation
(Depreciation)
 

U.S. Treasury 2-Year Note

       Short           (42        6/14         $ (9,221,625      $ 707   

U.S. Treasury 5-Year Note

       Short           (360        6/14           (42,823,125        187,188   

U.S. Treasury 10-Year Note

       Short           (155        6/14           (19,142,500        49,098   

U.S. Treasury Long Bond

       Short           (16        6/14           (2,131,500        (14,331

U.S. Treasury Ultra Bond

       Long           43           6/14           6,212,156           93,802   
                                        $ (67,106,594      $ 316,464   
* The aggregate Notional Amount at Value of long and short positions is $6,212,156 and $(73,318,750), respectively.

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

 

Nuveen Investments     35   


Nuveen Core Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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:                    

Corporate Bonds

     $         $ 168,794,468         $   —         $ 168,794,468   

$1,000 Par (or similar) Institutional Preferred

                 6,375,575                     6,375,575   

Municipal Bonds

                 6,670,195                     6,670,195   

U.S. Government and Agency Obligations

                 12,337,186                     12,337,186   

Asset-Backed and Mortgage-Backed Securities

                 167,556,637                     167,556,637   

Sovereign Debt

                 1,557,500                     1,557,500   
Investments Purchased with Collateral from Securities Lending        45,653,929                               45,653,929   
Short-Term Investments:                    

Money Market Funds

       2,851,392                               2,851,392   
Investments in Derivatives:                    

Interest Rate Swaps*

                 (22,453                  (22,453

Futures Contracts*

       316,464                               316,464   
Total      $ 48,821,785         $ 363,269,108         $         $ 412,090,893   
* Represents net unrealized appreciation (depreciation).

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. 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 March 31, 2014, the cost of investments (excluding investments in derivatives) was $405,978,415.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2014,, were as follows:

 

Gross unrealized:           

Appreciation

     $ 10,571,431   

Depreciation

       (4,752,964
Net unrealized appreciation (depreciation) of investments      $ 5,818,467   

 

  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.

 

(2) 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.

 

(3) Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $44,508,503.

 

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

 

(5) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.

 

(6) Principal Amount (000) rounds to less than $1,000.

 

(7) The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

 

(8) The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund.

 

TBA To be announced. Maturity date not known prior to settlement of this transaction.

 

WI/DD Investment, or portion of investment, 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.

 

USD-LIBOR-BBA United States Dollar-London Inter-Bank Offered Rate British Bankers’ Association.

 

  36       Nuveen Investments


Nuveen Core Plus Bond Fund

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)   Coupon            Ratings (2)     Value  
 

LONG-TERM INVESTMENTS – 98.6%

       
 

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 3.3%

       
 

Banks – 1.9%

       
  62,000     

Citigroup Inc.

    7.125       BB+      $ 1,636,800   
  65,000     

Morgan Stanley

    7.125       BB+        1,724,450   
  159,208     

PNC Financial Services, (3)

    6.125       BBB        4,252,446   
  95,750     

Regions Financial Corporation

    6.375       BB        2,308,532   
  62,000     

Wells Fargo & Company, (3)

    5.850             BBB+        1,543,800   
 

Total Banks

                            11,466,028   
 

Consumer Finance – 0.3%

       
  83,000     

Discover Financial Services

    6.500             BB        2,035,990   
 

Insurance – 1.1%

       
  104,794     

Endurance Specialty Holdings Limited

    7.500       BBB–        2,742,459   
  120,000     

Hartford Financial Services Group Inc.

    7.875             BB+        3,554,400   
 

Total Insurance

                            6,296,859   
 

Total $25 Par (or similar) Retail Preferred (cost $18,829,760)

                            19,798,877   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

CORPORATE BONDS – 60.3%

       
 

Aerospace & Defense – 0.8%

       
$ 2,000     

Bombardier Inc., 144A, (3)

    6.125     1/15/23        BB–      $ 2,020,000   
  2,780     

Exelis, Inc.

    5.550     10/01/21        BBB+        2,866,811   
  4,780     

Total Aerospace & Defense

                            4,886,811   
 

Airlines – 0.3%

       
  1,797     

Northwest Airlines Trust Pass-Through Certificates 2007-1

    7.027     11/01/19        A–        1,992,506   
 

Auto Components – 0.3%

       
  1,710     

TRW Automotive Inc., 144A

    4.450     12/01/23        BBB–        1,718,550   
 

Automobiles – 0.5%

       
  1,500     

Chrysler GP/CG Company

    8.000     6/15/19        B1        1,642,500   
  1,340     

General Motors Financial Company Inc., (3)

    4.250     5/15/23        BB+        1,323,250   
  2,840     

Total Automobiles

                            2,965,750   
 

Banks – 4.6%

       
  2,900     

Bancolombia SA

    5.950     6/03/21        Baa2        3,095,750   
  2,955     

Bank of America Corporation

    4.000     4/01/24        A        2,951,522   
  1,845     

CIT Group Inc., (3)

    5.000     8/01/23        BB        1,886,513   
  1,890     

HSBC Holdings PLC

    6.800     6/01/38        A+        2,322,309   
  3,455     

JPMorgan Chase & Company, (3)

    6.750     8/01/64        BBB        3,636,388   

 

Nuveen Investments     37   


Nuveen Core Plus Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Banks (continued)

       
$ 3,050     

Rabobank Nederland

    3.875     2/08/22        Aa2      $ 3,158,653   
  1,200     

Royal Bank of Scotland Group PLC, (3)

    6.100     6/10/23        BBB–        1,245,623   
  1,400     

Santander UK PLC, 144A

    5.000     11/07/23        A–        1,440,316   
  2,520     

Societe Generale, 144A, (3)

    5.000     1/17/24        BBB+        2,511,251   
  1,825     

Sovereign Bank

    8.750     5/30/18        Baa2        2,176,313   
  1,470     

Standard Chartered PLC, 144A

    5.700     3/26/44        A+        1,456,182   
  1,220     

Wells Fargo & Company

    3.450     2/13/23        A+        1,184,115   
  25,730     

Total Banks

                            27,064,935   
 

Building Products – 0.8%

       
  1,695     

Masco Corporation

    5.950     3/15/22        BBB–        1,839,075   
  1,000     

Odebrecht Offshore Drilling Finance Limited, 144A, (3)

    6.625     10/01/22        BBB        1,035,000   
  2,120     

Owens Corning Incorporated

    4.200     12/15/22        BBB–        2,102,451   
  4,815     

Total Building Products

                            4,976,526   
 

Capital Markets – 4.0%

       
  1,000     

E Trade Financial Corporation, (3)

    6.375     11/15/19        B2        1,087,500   
  2,140     

Goldman Sachs Group, Inc.

    6.000     6/15/20        A        2,457,381   
  2,495     

Goldman Sachs Group, Inc.

    5.250     7/27/21        A        2,761,940   
  3,685     

Goldman Sachs Group, Inc., (3)

    6.750     10/01/37        A–        4,221,238   
  1,025     

Lazard Group LLC

    4.250     11/14/20        BBB+        1,061,943   
  6,250     

Morgan Stanley

    6.625     4/01/18        A        7,286,006   
  4,105     

Morgan Stanley

    5.500     7/28/21        A        4,638,116   
  20,700     

Total Capital Markets

                            23,514,124   
 

Chemicals – 1.4%

       
  2,375     

Braskem Finance Limited, 144A

    5.750     4/15/21        BBB–        2,372,031   
  3,830     

Incitec Pivot Finance, 144A

    6.000     12/10/19        BBB        4,229,913   
  1,680     

NOVA Chemicals Corporation, 144A

    5.250     8/01/23        BB+        1,797,600   
  7,885     

Total Chemicals

                            8,399,544   
 

Commercial Services & Supplies – 0.4%

       
  1,000     

ADT Corporation, 144A, (3)

    6.250     10/15/21        BBB–        1,027,500   
  990     

R.R. Donnelley & Sons Company, (3)

    7.625     6/15/20        BB        1,138,500   
  1,990     

Total Commercial Services & Supplies

                            2,166,000   
 

Communications Equipment – 0.3%

       
  1,550     

Nokia Corporation

    5.375     5/15/19        BB–        1,631,375   
 

Computers & Peripherals – 1.0%

       
  1,965     

Apple Inc., 144A, (3)

    3.850     5/04/43        AA+        1,742,562   
  2,050     

NCR Corporation

    5.000     7/15/22        BB        2,052,563   
  1,820     

Seagate HDD Cayman

    7.000     11/01/21        BBB–        2,036,125   
  5,835     

Total Computers & Peripherals

                            5,831,250   

 

  38       Nuveen Investments


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

Construction Materials – 0.3%

       
$ 1,800     

Norbord Inc., 144A

    5.375     12/01/20        Ba2      $ 1,822,500   
 

Consumer Finance – 1.2%

       
  3,348     

Capital One Bank, (3)

    3.375     2/15/23        Baa1        3,257,781   
  1,790     

Discover Financial Services

    5.200     4/27/22        BBB        1,917,122   
  2,000     

Ford Motor Credit Company

    4.250     9/20/22        BBB–        2,061,028   
  7,138     

Total Consumer Finance

                            7,235,931   
 

Containers & Packaging – 0.7%

       
  985     

Ball Corporation

    4.000     11/15/23        BB+        920,975   
  1,000     

Crown Americas Capital Corporation IV

    4.500     1/15/23        BB        955,000   
  1,945     

Rock-Tenn Company

    4.900     3/01/22        BBB–        2,079,740   
  3,930     

Total Containers & Packaging

                            3,955,715   
 

Diversified Consumer Services – 0.2%

       
  900     

Office Depot de Mexico SA de CV, 144A

    6.875     9/20/20        BB+        937,125   
 

Diversified Financial Services – 4.2%

       
  5,205     

Citigroup Inc.

    4.500     1/14/22        A        5,514,958   
  5,000     

Citigroup Inc.

    3.875     10/25/23        A        4,964,615   
  2,915     

General Electric Capital Corporation

    6.875     1/10/39        AA+        3,838,883   
  3,190     

JPMorgan Chase & Company

    4.500     1/24/22        A+        3,439,082   
  2,665     

JPMorgan Chase & Company

    3.200     1/25/23        A+        2,584,171   
  1,680     

JPMorgan Chase & Company

    3.375     5/01/23        A        1,590,320   
  2,180     

JPMorgan Chase & Company

    6.400     5/15/38        A+        2,701,700   
  22,835     

Total Diversified Financial Services

                            24,633,729   
 

Diversified Telecommunication Services – 2.8%

       
  2,970     

AT&T, Inc.

    5.550     8/15/41        A        3,117,939   
  2,000     

Frontier Communications Corporation, (3)

    8.500     4/15/20        Ba2        2,325,000   
  3,190     

Qwest Corporation, (3)

    6.750     12/01/21        BBB–        3,561,967   
  2,000     

SBA Telecommunications Corporation

    5.750     7/15/20        B+        2,095,000   
  1,950     

Verizon Communications

    5.150     9/15/23        A–        2,133,922   
  2,010     

Verizon Communications

    6.900     4/15/38        A–        2,489,777   
  700     

Verizon Communications

    6.550     9/15/43        A–        851,855   
  14,820     

Total Diversified Telecommunication Services

                            16,575,460   
 

Electric Utilities – 1.7%

       
  1,500     

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

    4.875     5/26/21        BBB+        1,563,750   
  2,500     

Exelon Generation Co. LLC, (3)

    4.250     6/15/22        BBB+        2,535,443   
  1,685     

MidAmerican Energy Holdings Company

    6.125     4/01/36        A3        2,015,604   
  2,000     

Origin Energy Finance Limited, 144A

    3.500     10/09/18        BBB        2,035,878   
  2,095     

PPL Capital Funding Inc.

    3.500     12/01/22        BBB        2,052,792   
  9,780     

Total Electric Utilities

                            10,203,467   

 

Nuveen Investments     39   


Nuveen Core Plus Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Energy Equipment & Services – 2.2%

       
$ 2,180     

Diamond Offshore Drilling Inc.

    5.700     10/15/39        A      $ 2,383,324   
  3,870     

Ensco PLC

    4.700     3/15/21        BBB+        4,158,094   
  1,500     

Markwest Energy Partners LP, (3)

    6.750     11/01/20        BB        1,623,750   
  2,500     

Transocean Inc., (3)

    3.800     10/15/22        BBB–        2,390,020   
  1,880     

Weatherford International Limited

    7.000     3/15/38        Baa2        2,217,469   
  11,930     

Total Energy Equipment & Services

                            12,772,657   
 

Gas Utilities – 0.4%

       
  2,375     

AmeriGas Finance LLC, (3)

    7.000     5/20/22        Ba2        2,594,688   
 

Health Care Providers & Services – 1.4%

       
  2,000     

Community Health Systems, Inc., 144A

    5.125     8/01/21        BB+        2,050,000   
  2,000     

HCA Inc.

    6.500     2/15/20        BB+        2,240,000   
  1,500     

Tenet Healthcare Corporation, (3)

    4.375     10/01/21        BB        1,447,500   
  2,185     

UnitedHealth Group Incorporated

    6.875     2/15/38        A        2,875,198   
  7,685     

Total Health Care Providers & Services

                            8,612,698   
 

Independent Power & Renewable Electricity Producers – 0.2%

       
  999     

Calpine Corporation, 144A, (3)

    7.875     7/31/20        BB+        1,098,900   
 

Insurance – 3.3%

       
  3,975     

AFLAC Insurance

    6.450     8/15/40        A–        4,918,097   
  1,650     

Genworth Holdings Inc.

    4.800     2/15/24        BBB–        1,716,444   
  1,760     

Liberty Mutual Group Inc., 144A

    4.950     5/01/22        Baa2        1,883,872   
  3,015     

Liberty Mutual Group Inc., 144A

    5.000     6/01/21        Baa2        3,244,833   
  1,000     

Lincoln National Corporation

    8.750     7/01/19        A–        1,289,314   
  1,640     

Pacific LifeCorp., 144A

    6.000     2/10/20        BBB+        1,870,891   
  4,000     

Prudential Holdings LLC, 144A

    7.245     12/18/23        AA        4,903,980   
  17,040     

Total Insurance

                            19,827,431   
 

IT Services – 0.5%

       
  2,750     

Computer Sciences Corporation

    4.450     9/15/22        BBB+        2,807,379   
 

Leisure Equipment & Products – 0.5%

       
  2,950     

Hyatt Hotels Corporation

    3.375     7/15/23        BBB        2,791,721   
 

Machinery – 0.2%

       
  1,120     

Cummins Engine Inc.

    4.875     10/01/43        A        1,201,676   
 

Media – 5.2%

       
  2,000     

Clear Channel Worldwide

    6.500     11/15/22        BB–        2,137,500   
  5,565     

DIRECTV Holdings LLC

    3.800     3/15/22        BBB        5,506,785   
  2,000     

Dish DBS Corporation

    4.250     4/01/18        BB–        2,087,500   
  3,060     

NBC Universal Media LLC

    6.400     4/30/40        A–        3,785,826   
  1,925     

NBC Universal Media LLC, (3)

    4.450     1/15/43        A–        1,862,337   

 

  40       Nuveen Investments


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

Media (continued)

       
$ 3,590     

News America Holdings Inc.

    6.650     11/15/37        BBB+      $ 4,384,815   
  1,635     

SES SA, 144A

    3.600     4/04/23        BBB        1,584,658   
  2,000     

Sinclair Television Group, (3)

    5.375     4/01/21        B1        1,985,000   
  1,800     

Sirius XM Radio Inc., 144A, (3)

    4.250     5/15/20        BB        1,759,500   
  2,000     

UnityMedia Hessen GmBH, 144A

    7.500     3/15/19        BB–        2,170,000   
  2,987     

Viacom Inc.

    4.375     3/15/43        BBB+        2,654,496   
  1,000     

WMG Acquisition Group, 144A, (3)

    6.000     1/15/21        B+        1,042,500   
  29,562     

Total Media

                            30,960,917   
 

Metals & Mining – 5.9%

       
  3,035     

Alcoa Inc., (3)

    5.400     4/15/21        BBB–        3,184,198   
  1,625     

Allegheny Technologies Inc.

    5.875     8/15/23        BBB–        1,699,687   
  4,530     

Anglogold Holdings PLC

    6.500     4/15/40        Baa3        3,942,550   
  5,925     

ArcelorMittal, (3)

    6.750     2/25/22        BB+        6,502,688   
  2,050     

Cliffs Natural Resources Inc., (3)

    4.800     10/01/20        BBB–        2,012,858   
  1,535     

Freeport McMoRan Copper & Gold, Inc., (3)

    3.550     3/01/22        BBB        1,465,954   
  3,700     

Newmont Mining Corporation, (3)

    3.500     3/15/22        Baa1        3,356,666   
  2,000     

Nucor Corporation

    4.000     8/01/23        A        1,994,608   
  2,770     

Rio Tinto Finance USA PLC, (3)

    2.875     8/21/22        A–        2,636,472   
  1,440     

Teck Resources Limited

    6.250     7/15/41        BBB        1,486,688   
  3,895     

Vale Overseas Limited

    6.875     11/10/39        A–        4,164,039   
  2,340     

Xstrata Finance Canada Limited, 144A

    6.900     11/15/37        BBB        2,592,486   
  34,845     

Total Metals & Mining

                            35,038,894   
 

Oil, Gas & Consumable Fuels – 7.0%

       
  3,230     

Anadarko Petroleum Corporation, (3)

    6.200     3/15/40        BBB–        3,740,017   
  2,000     

Canadian Oil Sands Trust, 144A

    7.750     5/15/19        BBB        2,428,202   
  1,500     

Cenovus Energy Inc., (3)

    3.800     9/15/23        BBB+        1,494,741   
  1,500     

Chesapeake Energy Corporation, (3)

    6.125     2/15/21        BB–        1,635,000   
  2,000     

Cimarex Energy Company

    5.875     5/01/22        BB+        2,170,000   
  2,000     

Continental Resources Inc., (3)

    5.000     9/15/22        BBB–        2,100,000   
  2,100     

Denbury Resources Incorporated, (3)

    4.625     7/15/23        BB        1,953,000   
  750     

Kinder Morgan Inc., Delaware, 144A

    5.000     2/15/21        BB+        751,061   
  1,985     

Lukoil International Finance, 144A

    6.125     11/09/20        BBB        2,054,475   
  2,000     

Nabors Industries Inc., (3)

    4.625     9/15/21        BBB        2,066,212   
  2,000     

Oasis Petroleum Inc., 144A

    6.875     3/15/22        B+        2,165,000   
  2,255     

Petro Canada

    6.800     5/15/38        BBB+        2,854,880   
  2,495     

Petrobras International Finance Company

    6.875     1/20/40        Baa1        2,458,800   
  3,000     

Petroleos Mexicanos

    5.500     1/21/21        BBB+        3,277,500   
  1,900     

Reliance Holdings USA Inc., 144A

    5.400     2/14/22        BBB+        1,989,739   
  2,000     

Sabine Pass Liquefaction LLC

    5.625     2/01/21        BB+        2,062,500   

 

Nuveen Investments     41   


Nuveen Core Plus Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

Oil, Gas & Consumable Fuels (continued)

       
$ 1,955     

Southwestern Energy Company, (3)

    4.100     3/15/22        BBB–      $ 2,009,165   
  2,560     

Spectra Energy Partners LP

    4.750     3/15/24        BBB        2,697,495   
  1,750     

Targa Resources Inc., 144A, (3)

    4.250     11/15/23        BB        1,623,125   
  38,980     

Total Oil, Gas & Consumable Fuels

                            41,530,912   
 

Paper & Forest Products – 1.1%

       
  1,100     

Domtar Corporation

    4.400     4/01/22        BBB–        1,096,010   
  1,785     

Domtar Corporation

    6.750     2/15/44        BBB–        1,982,987   
  2,265     

International Paper Company

    8.700     6/15/38        BBB        3,273,215   
  5,150     

Total Paper & Forest Products

                            6,352,212   
 

Pharmaceuticals – 0.2%

       
  1,375     

AbbVie Inc., (3)

    2.900     11/06/22        A        1,323,686   
 

Real Estate Investment Trust – 2.9%

       
  2,780     

American Tower Company

    5.000     2/15/24        BBB        2,895,379   
  1,670     

ARC Property Operating Partnership LP, Clark Acquisition LLC, 144A

    4.600     2/06/24        BBB–        1,669,330   
  2,200     

Digital Realty Trust Inc.

    3.625     10/01/22        BBB        2,042,588   
  1,865     

Omega Healthcare Investors Inc., 144A

    4.950     4/01/24        BBB–        1,825,414   
  1,815     

Piedmont Operating Partnership LP

    4.450     3/15/24        BBB        1,811,397   
  1,200     

Plum Creek Timberlands LP

    4.700     3/15/21        BBB        1,261,034   
  2,995     

Prologis Inc.

    6.875     3/15/20        BBB+        3,537,065   
  2,315     

Realty Income Corporation

    3.250     10/15/22        BBB+        2,205,929   
  16,840     

Total Real Estate Investment Trust

                            17,248,136   
 

Road & Rail – 0.2%

       
  1,125     

Hertz Corporation, (3)

    6.250     10/15/22        B        1,203,750   
 

Specialty Retail – 0.7%

       
  1,225     

Best Buy Co., Inc.

    5.000     8/01/18        Baa2        1,269,406   
  600     

Guitar Center Inc., 144A, (WI/DD)

    6.500     4/15/19        B–        596,250   
  2,000     

O’Reilly Automotive Inc.

    4.875     1/14/21        BBB        2,141,872   
  3,825     

Total Specialty Retail

                            4,007,528   
 

Tobacco – 1.2%

       
  2,200     

Altria Group Inc.

    2.850     8/09/22        BBB+        2,064,482   
  2,000     

Imperial Tobacco Finance, 144A

    3.500     2/11/23        BBB        1,918,120   
  2,705     

Lorillard Tobacco, (3)

    6.875     5/01/20        Baa2        3,163,476   
  6,905     

Total Tobacco

                            7,146,078   
 

Trading Companies & Distributors – 0.3%

       
  1,925     

Air Lease Corporation

    3.875     4/01/21        BBB–        1,925,000   
 

Transportation Infrastructure – 0.7%

       
  3,800     

Asciano Finance, 144A

    5.000     4/07/18        Baa2        4,080,508   

 

  42       Nuveen Investments


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

Wireless Telecommunication Services – 0.7%

       
$ 1,300     

Millicom International Cellular SA, 144A

    6.625     10/15/21        BB+      $ 1,374,750   
  2,610     

SBA Tower Trust, 144A

    3.598     4/15/43        BBB        2,551,061   
  3,910     

Total Wireless Telecommunication Services

                            3,925,811   
$ 335,926     

Total Corporate Bonds (cost $339,833,942)

                            356,961,880   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 4.6%

       
 

Banks – 1.3%

       
$ 1,620     

Fifth Third Bancorp.

    5.100     N/A (4)        BBB–      $ 1,490,400   
  3,500     

Wachovia Capital Trust III

    5.570     N/A (4)        BBB+        3,364,374   
  2,760     

Wells Fargo Capital Trust X

    5.950     12/01/36        BBB+        2,760,000   
  7,880     

Total Banks

                            7,614,774   
 

Capital Markets – 0.3%

       
  2,415     

Goldman Sachs Capital II

    4.000     N/A (4)        BB+        1,859,550   
 

Diversified Financial Services – 0.8%

       
  4,000     

General Electric Capital Corporation, (3)

    7.125     N/A (4)        AA–        4,560,000   
 

Electric Utilities – 0.3%

       
  1,785     

Electricite de France, 144A

    5.250     N/A (4)        A3        1,787,678   
 

Insurance – 1.9%

       
  1,500     

Allstate Corporation

    5.750     8/15/53        Baa1        1,575,000   
  2,970     

Catlin Insurance Company Limited, 144A

    7.249     N/A (4)        BBB+        3,066,525   
  2,205     

Lincoln National Corporation

    6.050     4/20/67        BBB        2,191,219   
  1,500     

Prudential Financial Inc., (3)

    5.200     3/15/44        BBB+        1,488,750   
  2,755     

ZFS Finance USA Trust V, 144A

    6.500     5/09/37        A        2,954,738   
  10,930     

Total Insurance

                            11,276,232   
$ 27,010     

Total $1,000 Par (or similar) Institutional Preferred (cost $25,527,746)

                            27,098,234   
Principal
Amount (000)
    Description (1)     Optional Call
Provisions (5)
    Ratings (2)     Value  
 

MUNICIPAL BONDS – 1.1%

       
 

Illinois – 1.1%

       
$ 5,765     

Illinois State, General Obligation Bonds, Taxable Series 2011, 5.877%, 3/01/19

            No Opt. Call        A–      $ 6,472,712   
$ 5,765     

Total Municipal Bonds (cost $5,765,000)

                            6,472,712   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 28.1%

   
$ 3,649     

321 Henderson Receivables LLC, Series 2010-3A

    3.820     12/15/48        Aaa      $ 3,829,048   
  3,075     

AmeriCold LLC Trust, Series 2010

    6.811     1/14/29        A+        3,493,587   

 

Nuveen Investments     43   


Nuveen Core Plus Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

$ — (6)     

Amresco Residential Securities Corporation, Mortgage Loan Pass-Through Certificates, Series 1997-3

    6.960     3/25/27        Baa2      $ 112   
  850     

Bank of America Funding Trust, Mortgage Pass-Through Certificates, Series 2007-4

    5.500     6/25/37        CC        339,802   
  1,250     

Bayview Financial Mortgage Pass-Through Trust, Mortgage Pass-Through Certificate Series 2005-D

    5.500     12/28/35        BB        1,225,416   
  750     

CarFinance Capital Auto Trust, Automobile Receivables-Backed Notes, Series 2013-1, 144A

    3.450     3/15/19        Baa3        759,115   
  153     

Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-J1

    6.000     2/25/34        AA+        156,074   
  1,387     

Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-19CB

    6.000     8/25/36        Caa3        1,213,101   
  899     

Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-2

    2.500     2/25/34        A        866,577   
  480     

Countrywide Home Loans, Asset-Backed Certificates, Series 2003-SC1

    2.404     9/25/23        BB+        468,086   
  1,000     

Credit Suisse Commercial Mortgage Trust, Pass-Through Certificates Series 2007-4

    5.971     9/16/39        Ba1        1,076,637   
  5,652     

Credit Suisse Commercial Mortgage Trust, Series 2013-6

    3.500     8/25/43        AAA        5,421,318   
  4,821     

Credit Suisse Commercial Mortgage Trust 2013-IVR4

    3.000     7/25/43        AAA        4,748,986   
  2,903     

Credit Suisse First Boston Mortgage Securities Corporation, Mortgage-Backed Pass-Through Certificates, Series 2003-8

    6.196     4/25/33        A+        2,783,288   
  2,550     

DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-LC3A

    3.642     8/12/44        Aaa        2,681,886   
  6,829     

Fannie Mae Mortgage Pool AB1959

    4.000     12/01/40        Aaa        7,100,042   
  4,412     

Fannie Mae Mortgage Pool AC1877

    4.500     9/01/39        Aaa        4,707,678   
  5,789     

Fannie Mae Mortgage Pool AD4375

    5.000     5/01/40        Aaa        6,311,224   
  5,534     

Fannie Mae Mortgage Pool AE7265

    4.000     1/01/41        Aaa        5,754,322   
  1,937     

Fannie Mae Mortgage Pool AL0160

    4.500     5/01/41        Aaa        2,073,602   
  5,219     

Fannie Mae Mortgage Pool AL3617

    3.500     9/01/27        Aaa        5,474,226   
  1,498     

Fannie Mae Mortgage Pool MA1028

    4.000     4/01/42        Aaa        1,557,284   
  117     

Fannie Mae Mortgage Pool 250551

    7.000     5/01/26        Aaa        132,846   
  477     

Fannie Mae Mortgage Pool 252255

    6.500     2/01/29        Aaa        536,177   
  918     

Fannie Mae Mortgage Pool 254169

    6.500     12/01/31        Aaa        1,003,778   
  817     

Fannie Mae Mortgage Pool 254379

    7.000     7/01/32        Aaa        960,379   
  681     

Fannie Mae Mortgage Pool 254513

    6.000     10/01/22        Aaa        757,930   
  1,744     

Fannie Mae Mortgage Pool 255575

    5.500     1/01/25        Aaa        1,923,054   
  337     

Fannie Mae Mortgage Pool 256845

    6.500     8/01/37        Aaa        377,780   
  1,161     

Fannie Mae Mortgage Pool 256852

    6.000     8/01/27        Aaa        1,298,871   
  525     

Fannie Mae Mortgage Pool 256890

    6.000     9/01/37        Aaa        567,890   
  76     

Fannie Mae Mortgage Pool 340798

    7.000     4/01/26        Aaa        84,204   
  4     

Fannie Mae Mortgage Pool 535206

    7.000     2/01/15        Aaa        4,357   
  119     

Fannie Mae Mortgage Pool 545359

    2.393     3/01/31        Aaa        127,668   
  251     

Fannie Mae Mortgage Pool 545813

    7.000     7/01/32        Aaa        281,878   
  176     

Fannie Mae Mortgage Pool 545815

    7.000     7/01/32        Aaa        198,131   

 

  44       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

$ 1,151     

Fannie Mae Mortgage Pool 555798

    6.500     5/01/33        Aaa      $ 1,297,706   
  1,953     

Fannie Mae Mortgage Pool 555843

    2.205     8/01/30        Aaa        2,024,876   
  79     

Fannie Mae Mortgage Pool 591038

    7.000     8/01/16        Aaa        81,840   
  343     

Fannie Mae Mortgage Pool 673010

    5.500     12/01/17        Aaa        365,343   
  1,713     

Fannie Mae Mortgage Pool 688330

    6.000     3/01/33        Aaa        1,935,576   
  3,092     

Fannie Mae Mortgage Pool 709446

    5.500     7/01/33        Aaa        3,453,684   
  433     

Fannie Mae Mortgage Pool 725553

    2.172     9/01/33        Aaa        459,269   
  2,054     

Fannie Mae Mortgage Pool 735054

    5.140     11/01/34        Aaa        2,204,240   
  2,243     

Fannie Mae Mortgage Pool 735273

    6.500     6/01/34        Aaa        2,555,607   
  1,165     

Fannie Mae Mortgage Pool 745101

    6.000     4/01/32        Aaa        1,284,900   
  232     

Fannie Mae Mortgage Pool 781776

    6.000     10/01/34        Aaa        260,709   
  731     

Fannie Mae Mortgage Pool 885536

    6.000     8/01/36        Aaa        824,181   
  1,186     

Fannie Mae Mortgage Pool 900555

    6.000     9/01/36        Aaa        1,318,582   
  3,176     

Fannie Mae Mortgage Pool 932323

    4.500     12/01/39        Aaa        3,390,318   
  — (6)     

Fannie Mae Mortgage Pool 983077

    5.000     5/01/38        Aaa        400   
  — (6)     

Fannie Mae Mortgage Pool 985344

    5.500     7/01/38        Aaa        245   
  9     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1988-24 G

    7.000     10/25/18        Aaa        9,786   
  9     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1989-44 H

    9.000     7/25/19        Aaa        9,877   
  2     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1989-90 E

    8.700     12/25/19        Aaa        1,945   
  13     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-102 J

    6.500     8/25/20        Aaa        13,806   
  98     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-105 J

    6.500     9/25/20        Aaa        105,651   
  6     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-30 E

    6.500     3/25/20        Aaa        6,816   
  10     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-61 H

    7.000     6/25/20        Aaa        10,785   
  10     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-72 B

    9.000     7/25/20        Aaa        11,172   
  66     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1991-134 Z

    7.000     10/25/21        Aaa        73,534   
  36     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1991-56 M

    6.750     6/25/21        Aaa        39,827   
  9     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1992-120 C

    6.500     7/25/22        Aaa        10,183   
  305     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1996-35 Z

    7.000     7/25/26        Aaa        344,579   
  915     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2005-62 JE

    5.000     6/25/35        Aaa        1,024,056   

 

Nuveen Investments     45   


Nuveen Core Plus Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

$ 1,103     

Fannie Mae REMIC Pass-Through Certificates 2003-W1 B1

    4.625     12/25/42        B1      $ 947,431   
  5,735     

Fannie Mae TBA Mortgage Pool, (WI/DD)

    4.000     TBA        Aaa        5,960,816   
  3,000     

Fannie Mae TBA Mortgage Pool, (WI/DD)

    5.000     TBA        Aaa        3,270,703   
  2,449     

Fannie Mae, Connecticut Avenue Securities Series 2014-C01

    1.754     1/25/24        Baa2        2,475,137   
  10     

Federal Home Loan Mortgage Corporation, REMIC 1022 J

    6.000     12/15/20        Aaa        10,611   
  20     

Federal Home Loan Mortgage Corporation, REMIC 1118 Z

    8.250     7/15/21        Aaa        22,412   
  29     

Federal Home Loan Mortgage Corporation, REMIC 162 F

    7.000     5/15/21        Aaa        31,260   
  17     

Federal Home Loan Mortgage Corporation, REMIC 1790 A

    7.000     4/15/22        Aaa        17,597   
  64     

Federal Home Loan Mortgage Corporation, REMIC 188 H

    7.000     9/15/21        Aaa        70,739   
  738     

Federal Home Loan Mortgage Corporation, REMIC 2704 JF

    0.705     5/15/23        Aaa        742,309   
  481     

Federal Home Loan Mortgage Corporation, REMIC 2901 UB

    5.000     3/15/33        Aaa        483,466   
  897     

Federal Home Loan Mortgage Corporation, REMIC 3591 FP

    0.755     6/15/39        Aaa        904,156   
  5     

Federal Home Loan Mortgage Corporation, REMIC 6 C

    9.050     6/15/19        Aaa        5,242   
  2,318     

Freddie Mac Gold Pool 1G2163

    2.466     9/01/37        Aaa        2,473,889   
  379     

Freddie Mac Gold Pool 846984

    1.926     6/01/31        Aaa        398,967   
  524     

Freddie Mac Gold Pool 847180

    2.390     3/01/30        Aaa        564,042   
  424     

Freddie Mac Gold Pool 847190

    2.318     4/01/29        Aaa        441,955   
  716     

Freddie Mac Gold Pool 847240

    2.287     7/01/30        Aaa        756,916   
  809     

Freddie Mac Mortgage Pool, Various A17212

    6.500     7/01/31        Aaa        921,555   
  578     

Freddie Mac Mortgage Pool, Various A15521

    6.000     11/01/33        Aaa        650,956   
  462     

Freddie Mac Mortgage Pool, Various C00676

    6.500     11/01/28        Aaa        522,496   
  209     

Freddie Mac Mortgage Pool, Various H09059

    7.000     8/01/37        Aaa        226,221   
  273     

Freddie Mac Mortgage Pool, Various P10023

    4.500     3/01/18        Aaa        279,952   
  788     

Freddie Mac Mortgage Pool, Various P10032

    4.500     5/01/18        Aaa        808,111   
  1,000     

Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series 2012-K711

    3.562     8/25/45        A–        1,001,195   
  1,315     

Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series 2013-K712

    3.368     5/25/45        A–        1,297,801   
  74     

Freddie Mac Non Gold Participation Certificates 846757

    2.322     5/01/25        Aaa        79,098   
  616     

Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-RP2 1A2

    7.500     3/25/35        B1        640,178   
  681     

Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-RP3 1A2

    7.500     9/25/35        Ba3        708,896   
  5,684     

Government National Mortgage Association Pool 4946

    4.500     2/20/41        Aaa        6,144,773   
  146     

Government National Mortgage Association Pool 537699

    7.500     11/15/30        Aaa        164,912   
  1     

Government National Mortgage Association Pool 8259

    1.625     8/20/23        Aaa        687   
  838     

IndyMac INDX Mortgage Loan Trust, Pass-Through Certificates, Series 2005-AR1

    2.459     3/25/35        BBB+        837,514   
  2,035     

JPMorgan Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2007-S1

    0.434     6/25/37        CCC        1,769,556   
  5,570     

JPMorgan Chase Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C4

    4.106     7/17/46        AAA        6,006,432   

 

  46       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

$ 892     

Lehman Mortgage Trust, Mortgage Pass-Through Certificates, Series 2008-6

    5.466     4/25/38        BB+      $ 916,208   
  2,641     

Master Resecuritization Trust 2009-1

    6.000     10/25/36        A        2,833,017   
  1,544     

Mid-State Capital Corporation Trust Notes, Series 2005-1

    5.745     1/15/40        AA        1,648,621   
  1,250     

ML_CFC Commercial Mortgage Trust, Pass Through Certificates, Series 2007-8

    5.894     8/12/49        BB        1,277,311   
  699     

Mortgage Asset Securitization Transaction Inc., Alternative Loan Trust Mortgage Pass-Through Certificates Series 2004-1

    7.000     1/25/34        BBB+        723,753   
  4,185     

National Credit Union Administration Guaranteed Structured Collateral Notes

    2.900     10/29/20        Aaa        4,338,590   
  2,458     

RBSSP Resecuritization Trust, Series 2012-8 1A1

    0.316     10/28/36        N/R        2,344,320   
  518     

Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1

    4.125     2/25/41        AAA        528,160   
  2,429     

Springleaf Mortgage Loan Trust 2011-1

    4.050     1/25/58        AAA        2,542,372   
  266     

Structured Adjustable Rate Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2004-11

    2.535     8/25/34        N/R        263,319   
  2,150     

Structured Agency Credit Risk Debt Notes, 2013-DN2

    4.404     11/25/23        N/R        2,231,467   
  1,331     

U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2006-P10B

    5.681     8/10/16        Aaa        1,393,480   
  5,847     

United States Department of Veterans, Affairs, Guaranteed REMIC Pass-Through Certificates, Vendee Mortgage Trust, Series 2011-1

    3.750     2/15/35        Aaa        6,146,206   
  740     

Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-WHl8

    0.235     6/15/20        Aaa        732,925   
  3,455     

Wachovia Mortgage Loan Trust LLC, Mortgage Pass-Through Certificates, Series 2005-B

    2.622     10/20/35        D        2,869,006   
  853     

Wells Fargo Mortgage Backed Securities Trust, Mortgage Pass-Through Certificate Series 2007-2

    5.750     3/25/37        Caa2        803,453   
$ 160,325     

Total Asset-Backed and Mortgage-Backed Securities (cost $160,579,528)

                            166,646,036   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

SOVEREIGN DEBT – 1.2%

       
 

Indonesia – 0.4%

       
$ 1,300     

Republic of Indonesia, 144A, (3)

    4.875     5/05/21        Baa3      $ 1,332,500   
  1,000     

Republic of Indonesia, 144A

    5.875     1/15/24        Baa3        1,073,750   
  2,300     

Total Indonesia

                            2,406,250   
 

Poland – 0.2%

       
  1,000     

Republic of Poland

    3.000     3/17/23        A2        935,000   
 

South Africa – 0.6%

       
  3,365     

Republic of South Africa

    5.875     9/16/25        Baa1        3,617,375   
$ 6,665     

Total Sovereign Debt (cost $6,682,092)

                            6,958,625   
 

Total Long-Term Investments (cost $557,218,068)

                            583,936,364   

 

Nuveen Investments     47   


Nuveen Core Plus Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)   Coupon               Value  
 

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 13.8%

  

     
 

Money Market Funds – 13.8%

       
  81,484,590     

Mount Vernon Securities Lending Trust Prime Portfolio, (8)

    0.182% (7)              $ 81,484,590   
 

Total Investments Purchased with Collateral from Securities Lending (cost $81,484,590)

                    81,484,590   
Shares     Description (1)   Coupon               Value  
 

SHORT-TERM INVESTMENTS – 1.4%

       
 

Money Market Funds – 1.4%

       
  8,062,408     

First American Treasury Obligations Fund, Class Z

    0.000% (7)              $ 8,062,408   
 

Total Short-Term Investments (cost $8,062,408)

                    8,062,408   
 

Total Investments (cost $646,765,066) – 113.8%

                    673,483,362   
 

Other Assets Less Liabilities – (13.8)% (9)

                    (81,507,193
 

Net Assets – 100%

                  $ 591,976,169   

Investments in Derivatives as of March 31, 2014

Forward Foreign Currency Exchange Contracts outstanding:

 

Counterparty      Currency Contracts to Deliver      Amount
(Local Currency)
     In Exchange
For Currency
     Amount
(Local Currency)
       Settlement
Date
       Unrealized
Appreciation
(Depreciation)
(U.S. Dollars) (9)
 
JPMorgan      U.S. Dollar        5,983,769       Mexican Peso        80,000,000           4/14/14         $ 137,301   
Nomura Securities      Brazilian Real        7,100,000       U.S. Dollar        3,137,428           4/02/14           10,324   
Nomura Securities      Brazilian Real        7,100,000       U.S. Dollar        3,129,132           4/02/14           2,028   
Nomura Securities      U.S. Dollar        3,137,428       Brazilian Real        7,100,000           4/02/14           (10,324
Nomura Securities      U.S. Dollar        2,996,666       Brazilian Real        7,100,000           4/02/14           130,438   
Nomura Securities      U.S. Dollar        3,104,504       Brazilian Real        7,100,000           5/05/14           (3,898
                                                    $ 265,869   

Credit Default Swaps outstanding:

 

Clearing House      Referenced Entity        Buy/Sell
Protection (10)
       Current
Credit
Spread (11)
     Notional
Amount
       Fixed Rate
(Annualized)
     Termination
Date
       Value      Unrealized
Appreciation
(Depreciation)
 

Citigroup

       Markit CDX NA
HY21 Index
          Buy           3.11    $ 22,300,000           5.000      12/20/18         $ (1,810,708    $ (258,326

Interest Rate Swaps outstanding:

 

Counterparty      Notional
Amount
       Fund
Pay/
Receive
Floating
Rate
       Floating
Rate Index
       Fixed Rate
(Annualized)
     Fixed Rate
Payment
Frequency
       Termination
Date
       Value      Unrealized
Appreciation
(Depreciation) (9)
 

Deutsche Bank AG

     $ 23,000,000           Receive           3-Month
USD-LIBOR
-BBA
          1.741      Semi-Annually           11/08/22         $ 1,514,489       $ 1,514,489   

JPMorgan

       12,000,000           Receive           3-Month
USD-LIBOR
-BBA
          2.078         Semi-Annually           2/19/23           581,375         581,375   

JPMorgan*

       17,000,000           Receive           3-Month
USD-LIBOR
-BBA
          2.739         Semi-Annually           11/21/23           (74,899      (75,415
       $ 52,000,000                                                              $ 2,020,965       $ 2,020,449   
* Citigroup is the clearing house for this transaction.

 

  48       Nuveen Investments


Futures Contracts outstanding:

 

Description      Contract
Position
       Number of
Contracts
     Contract
Expiration
       Notional
Amount at
Value
     Unrealized
Appreciation
(Depreciation)
 

90-Day Eurodollar

       Short           (119      6/16         $ (29,227,887    $ 45,335   

U.S. Treasury 5-Year Note

       Short           (103      6/14           (12,252,172      73,115   

U.S. Treasury 10-Year Note

       Short           (529      6/14           (65,331,500      333,858   

U.S. Treasury Long Bond

       Short           (44      6/14           (5,861,625      (39,411

U.S. Treasury Ultra Bond

       Short           (44      6/14           (6,356,625      (81,704
                                      $ (119,029,809    $ 331,193   

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

        Level 1        Level 2        Level 3        Total  
Long-Term Investments:                    

$25 Par (or similar) Retail Preferred

     $ 19,798,877         $         $         $ 19,798,877   

Corporate Bonds

                 356,961,880                     356,961,880   

$1,000 Par (or similar) Institutional Preferred

                 27,098,234                     27,098,234   

Municipal Bonds

                 6,472,712                     6,472,712   

Asset-Backed and Mortgage-Backed Securities

                 166,646,036                     166,646,036   

Sovereign Debt

                 6,958,625                     6,958,625   
Investments Purchased with Collateral from Securities Lending        81,484,590                               81,484,590   
Short-Term Investments:                    

Money Market Funds

       8,062,408                               8,062,408   
Investments in Derivatives:                    

Forward Foreign Currency Exchange Contracts*

                 265,869                     265,869   

Credit Default Swaps*

                 (258,326                  (258,326

Interest Rate Swaps*

                 2,020,449                     2,020,449   

Futures Contracts*

       331,193                               331,193   
Total      $ 109,677,068         $ 566,165,479         $         $ 675,842,547   
*Represents net unrealized appreciation (depreciation).

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. 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.

 

Nuveen Investments     49   


Nuveen Core Plus Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

As of March 31, 2014, the cost of investments (excluding investments in derivatives) was $646,812,998.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2014, were as follows:

 

Gross unrealized:           

Appreciation

     $ 32,733,710   

Depreciation

       (6,063,346
Net unrealized appreciation (depreciation) of investments      $ 26,670,364   

 

 

   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.

 

(2) 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.

 

(3) Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $79,274,079.

 

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

 

(5) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.

 

(6) Principal Amount (000) rounds to less than $1,000.

 

(7) The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

 

(8) The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund.

 

(9) Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of certain derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.

 

(10) The Fund entered into the credit default swaps to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning the referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.

 

(11) The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher likelihood of performance by the seller of protection.

 

TBA To be announced. Maturity date not known prior to settlement of this transaction.

 

WI/DD Investment, or portion of investment, 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.

 

USD-LIBOR-BBA United States Dollar-London Inter-Bank Offered Rate British Bankers’ Association.

 

  50       Nuveen Investments


Nuveen Short Term Bond Fund

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

LONG-TERM INVESTMENTS – 98.1%

       
 

CORPORATE BONDS – 46.5%

       
 

Airlines – 1.1%

       
$ 2,250     

American Airlines Pass-Through Trust 2013-2C, 144A

    6.000     1/15/17        B+      $ 2,331,563   
  2,362     

Delta Air Lines Pass-Through Certificates Series 2012-1A, (3)

    4.750     5/07/20        A        2,550,983   
  1,860     

Delta Air Lines Pass-Through Certificates, Series 2012-1B, 144A, (3)

    6.875     5/07/19        BB+        2,037,050   
  2,056     

Delta Airlines

    5.300     4/15/19        A        2,271,501   
  1,263     

US Airways Pass-Through Trust

    9.125     10/01/15        B+        1,338,718   
  1,207     

US Airways Pass-Through Trust

    7.076     3/20/21        BBB+        1,345,593   
  10,998     

Total Airlines

                            11,875,408   
 

Auto Components – 0.2%

       
  2,000     

Goodyear Tire & Rubber Company

    7.000     5/15/22        B+        2,220,000   
 

Automobiles – 0.9%

       
  1,000     

Chrysler GP/CG Company, (3)

    8.000     6/15/19        B1        1,095,000   
  2,700     

Daimler Finance NA LLC, 144A

    1.250     1/11/16        A–        2,715,139   
  2,000     

DriveTime Automotive Group Inc, DT Acceptance Corporation

    12.625     6/15/17        B        2,147,500   
  1,000     

General Motors Financial Company Inc.

    4.750     8/15/17        BB+        1,068,750   
  1,710     

Jaguar Land Rover PLC, 144A

    8.125     5/15/21        BB        1,940,850   
  8,410     

Total Automobiles

                            8,967,239   
 

Banks – 5.1%

       
  2,250     

Abbey National Treasury Services PLC of London

    3.050     8/23/18        A        2,316,524   
  2,000     

Ally Financial Inc.

    3.500     1/27/19        BB+        2,000,000   
  5,000     

Australia and New Zealand Banking Group Limited, 144A

    2.400     11/23/16        Aaa        5,164,750   
  800     

Banco do Nordeste do Brasil, 144A

    3.625     11/09/15        BBB–        811,000   
  3,305     

Bank of Nova Scotia

    1.375     12/18/17        Aa2        3,271,372   
  3,615     

Barclays Bank PLC

    5.000     9/22/16        A        3,958,450   
  3,525     

BB&T Corporation

    1.450     1/12/18        A+        3,481,220   
  1,300     

BBVA Bancomer SA Texas, 144A

    4.500     3/10/16        A2        1,374,750   
  2,000     

CIT Group Inc.

    3.875     2/19/19        BB–        2,021,884   
  2,000     

Credit Agricole SA, 144A

    3.000     10/01/17        A        2,078,420   
  1,550     

Fifth Third Bancorp.

    3.625     1/25/16        A        1,626,265   
  2,000     

HSBC USA Inc.

    1.625     1/16/18        AA–        1,983,490   
  1,675     

ING Bank NV, 144A, (3)

    4.000     3/15/16        A+        1,770,386   
  1,500     

ING Bank NV, 144A

    3.750     3/07/17        A+        1,594,583   
  2,760     

National Australia Bank, 144A

    3.000     7/27/16        Aa2        2,891,263   
  2,000     

Nordea Bank AB, 144A

    3.125     3/20/17        AA–        2,100,420   
  1,000     

Rabobank Nederland Utrecht

    3.375     1/19/17        Aa2        1,060,184   

 

Nuveen Investments     51   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

Banks (continued)

       
$ 705     

Regions Financial Corporation

    7.750     11/10/14        BBB–      $ 734,666   
  2,000     

Royal Bank of Scotland Group PLC

    2.550     9/18/15        A        2,042,418   
  2,000     

Societe Generale, (3)

    2.750     10/12/17        A        2,058,400   
  2,000     

SunTrust Banks Inc.

    2.350     11/01/18        Baa1        2,000,714   
  2,000     

Wells Fargo & Company

    1.500     7/01/15        AA–        2,023,276   
  3,755     

Wells Fargo & Company

    3.676     6/15/16        AA–        3,981,584   
  50,740     

Total Banks

                            52,346,019   
 

Beverages – 1.1%

       
  2,235     

Anheuser-Busch Companies Inc.

    5.050     10/15/16        A        2,462,045   
  1,500     

Constellation Brands Inc.

    8.375     12/15/14        BB+        1,571,250   
  2,560     

Dr. Pepper Snapple Group Inc.

    2.900     1/15/16        BBB+        2,653,591   
  2,000     

Heineken NV, 144A

    1.400     10/01/17        BBB+        1,991,262   
  2,700     

SABMiller Holdings Inc., 144A

    2.200     8/01/18        BBB+        2,696,471   
  10,995     

Total Beverages

                            11,374,619   
 

Biotechnology – 0.4%

       
  2,000     

Genentech Inc.

    4.750     7/15/15        AA        2,106,726   
  1,805     

STHI Holding Corporation, 144A

    8.000     3/15/18        B        1,913,300   
  3,805     

Total Biotechnology

                            4,020,026   
 

Building Products – 0.1%

       
  750     

Hanson Limited

    6.125     8/15/16        Ba1        824,063   
 

Capital Markets – 2.3%

       
  12,030     

Goldman Sachs Group, Inc.

    6.250     9/01/17        A        13,737,911   
  7,800     

Morgan Stanley

    1.750     2/25/16        A        7,900,636   
  2,250     

Nomura Holdings Incorporated

    2.000     9/13/16        BBB+        2,277,977   
  22,080     

Total Capital Markets

                            23,916,524   
 

Chemicals – 1.3%

       
  2,000     

Dow Chemical Company

    2.500     2/15/16        BBB        2,059,842   
  2,215     

Eastman Chemical Company

    2.400     6/01/17        BBB        2,257,083   
  2,635     

Ecolab Inc.

    1.450     12/08/17        BBB+        2,601,456   
  1,875     

Potash Corporation of Saskatchewan

    3.750     9/30/15        A–        1,960,569   
  2,000     

Rhodia SA, 144A

    6.875     9/15/20        BBB+        2,194,942   
  2,750     

Sherwin-Williams Company

    1.350     12/15/17        A        2,707,931   
  13,475     

Total Chemicals

                            13,781,823   
 

Commercial Services & Supplies – 0.4%

       
  2,000     

ERAC USA Finance LLC, 144A

    2.800     11/01/18        BBB+        2,036,076   
  1,815     

Waste Management Inc.

    2.600     9/01/16        A–        1,879,592   
  3,815     

Total Commercial Services & Supplies

                            3,915,668   

 

  52       Nuveen Investments


Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

Communications Equipment – 0.1%

       
$ 1,050     

Nokia Corporation

    5.375     5/15/19        BB–      $ 1,105,125   
 

Computers & Peripherals – 0.8%

       
  2,960     

EMC Corporation

    1.875     6/01/18        A1        2,958,026   
  3,510     

Hewlett Packard Company

    3.000     9/15/16        A–        3,664,672   
  1,000     

Seagate HDD Cayman, 144A

    3.750     11/15/18        BBB–        1,030,000   
  7,470     

Total Computers & Peripherals

                            7,652,698   
 

Construction & Engineering – 0.1%

       
  1,000     

ABB Finance USA Inc.

    1.625     5/08/17        A        1,006,827   
 

Consumer Finance – 1.0%

       
  505     

Ally Financial Inc.

    5.500     2/15/17        BB+        547,925   
  4,820     

American Express Credit Corporation

    2.800     9/19/16        A+        5,026,783   
  2,050     

Capital One Financial Corporation

    6.150     9/01/16        BBB+        2,287,821   
  2,000     

Ford Motor Credit Company, (3)

    1.500     1/17/17        BBB–        1,994,046   
  9,375     

Total Consumer Finance

                            9,856,575   
 

Containers & Packaging – 0.2%

       
  2,000     

Reynolds Group

    7.875     8/15/19        B+        2,202,500   
 

Diversified Financial Services – 4.9%

       
  12,510     

Bank of America Corporation

    1.125     11/14/16        A        12,476,261   
  2,570     

BNP Paribas

    2.700     8/20/18        A+        2,621,027   
  7,390     

Citigroup Inc.

    4.587     12/15/15        A        7,838,196   
  2,840     

Deutsche Bank AG London

    2.500     2/13/19        A+        2,848,824   
  9,930     

General Electric Capital Corporation

    2.300     4/27/17        AA+        10,224,861   
  4,500     

JPMorgan Chase & Company

    5.150     10/01/15        A        4,775,625   
  4,500     

JPMorgan Chase & Company

    3.150     7/05/16        A+        4,709,021   
  2,970     

National Rural Utilities Cooperative Finance Corporation

    1.900     11/01/15        A+        3,030,059   
  1,500     

Rabobank Nederland

    2.250     1/14/19        Aa2        1,495,823   
  48,710     

Total Diversified Financial Services

                            50,019,697   
 

Diversified Telecommunication Services – 0.3%

       
  2,300     

AT&T, Inc.

    1.400     12/01/17        A        2,275,687   
  1,000     

Verizon Communications, (3)

    1.984     9/14/18        A–        1,050,195   
  3,300     

Total Diversified Telecommunication Services

                            3,325,882   
 

Electric Utilities – 0.1%

       
  1,500     

FirstEnergy Corporation

    2.750     3/15/18        Baa3        1,495,448   
 

Electronic Equipment & Instruments – 0.1%

       
  1,410     

Tyco Electronics Group. SA

    1.600     2/03/15        A–        1,423,516   

 

Nuveen Investments     53   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

Energy Equipment & Services – 0.8%

       
$ 3,000     

Ensco PLC

    3.250     3/15/16        BBB+      $ 3,128,232   
  1,825     

Noble Holding International Limited

    3.450     8/01/15        A–        1,884,794   
  2,700     

Pacific Drilling SA

    8.250     2/23/15        N/R        2,801,250   
  7,525     

Total Energy Equipment & Services

                            7,814,276   
 

Food & Staples Retailing – 0.4%

       
  2,000     

CVS Caremark Corporation

    1.200     12/05/16        BBB+        2,011,568   
  2,000     

Tesco PLC, 144A

    5.500     11/15/17        BBB+        2,229,754   
  4,000     

Total Food & Staples Retailing

                            4,241,322   
 

Food Products – 1.3%

       
  2,500     

Bunge Limited Finance Company

    3.200     6/15/17        Baa2        2,598,113   
  5,000     

Mondelez International Inc.

    2.250     2/01/19        Baa1        4,954,275   
  3,000     

Sara Lee Corporation

    2.750     9/15/15        BBB        3,081,519   
  3,000     

Wm. Wrigley Jr. Company, 144A

    2.900     10/21/19        BBB+        3,027,039   
  13,500     

Total Food Products

                            13,660,946   
 

Gas Utilities – 0.1%

       
  1,246     

Suburban Propane Partners LP, (3)

    7.500     10/01/18        BB–        1,323,875   
 

Health Care Equipment & Supplies – 0.7%

       
  3,000     

Aetna Inc.

    1.500     11/15/17        A–        2,993,799   
  2,000     

Biomet Inc.

    6.500     8/01/20        B–        2,154,000   
  2,000     

Boston Scientific Corporation

    6.250     11/15/15        BBB–        2,164,902   
  7,000     

Total Health Care Equipment & Supplies

                            7,312,701   
 

Health Care Providers & Services – 2.0%

       
  2,000     

Community Health Systems, Inc.

    5.125     8/15/18        BB+        2,100,000   
  2,560     

Covidien International Finance SA

    1.350     5/29/15        A        2,580,590   
  3,500     

Express Scripts Holding Company, (3)

    3.500     11/15/16        BBB+        3,705,790   
  1,000     

HCA Inc.

    8.500     4/15/19        BB+        1,046,000   
  1,500     

HealthSouth Corporation

    8.125     2/15/20        BB–        1,623,750   
  2,000     

Laboratory Corporation of America Holdings

    2.500     11/01/18        BBB+        1,992,982   
  1,115     

Quest Diagnostics Inc.

    5.450     11/01/15        BBB+        1,191,194   
  2,105     

Quest Diagnostics Inc.

    6.400     7/01/17        BBB+        2,388,872   
  1,945     

UnitedHealth Group Incorporated

    0.850     10/15/15        A        1,953,299   
  1,750     

Wellpoint Inc.

    1.875     1/15/18        A–        1,736,896   
  19,475     

Total Health Care Providers & Services

                            20,319,373   
 

Hotels, Restaurants & Leisure – 0.3%

       
  1,395     

Gaming and Leisure Products Inc., GLP Capital LP Financing II Inc., 144A

    4.375     11/01/18        BBB–        1,431,619   
  1,750     

Wynn Las Vegas LLC Corporation

    7.750     8/15/20        BBB–        1,946,875   
  3,145     

Total Hotels, Restaurants & Leisure

                            3,378,494   

 

  54       Nuveen Investments


Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

Independent Power & Renewable Electricity Producers – 0.3%

       
$ 1,249     

Calpine Corporation, 144A, (3)

    7.875     7/31/20        BB+      $ 1,373,900   
  1,966     

RRI Energy Inc.

    7.875     6/15/17        B        1,975,830   
  3,215     

Total Independent Power & Renewable Electricity Producers

                            3,349,730   
 

Insurance – 2.2%

       
  3,380     

AFLAC Insurance

    2.650     2/15/17        A–        3,519,733   
  2,736     

Allied World Assurance Holdings Limited

    7.500     8/01/16        A–        3,111,420   
  4,945     

American International Group, Inc.

    4.875     9/15/16        A–        5,394,985   
  2,000     

Hartford Financial Services Group Inc.

    4.000     3/30/15        BBB        2,066,936   
  2,000     

Lincoln National Corporation

    4.300     6/15/15        A–        2,080,220   
  3,400     

Prudential Covered Trust, 144A

    2.997     9/30/15        A        3,490,052   
  1,000     

Security Benefit Life Insurance Company, 144A, (3)

    8.750     5/15/16        BBB        1,106,363   
  2,000     

White Mountains Insurance Group, 144A

    6.375     3/20/17        BBB        2,233,484   
  21,461     

Total Insurance

                            23,003,193   
 

Internet & Catalog Retail – 0.3%

       
  2,695     

Amazon.com Incorporated

    1.200     11/29/17        AA–        2,668,341   
 

IT Services – 0.2%

       
  2,000     

First Data Corporation, 144A, (3)

    7.375     6/15/19        BB–        2,150,000   
 

Life Sciences Tools & Services – 0.3%

       
  1,250     

Thermo Fischer Scientific Inc.

    3.200     5/01/15        BBB        1,283,080   
  1,745     

Thermo Fischer Scientific Inc.

    2.250     8/15/16        BBB        1,788,438   
  2,995     

Total Life Sciences Tools & Services

                            3,071,518   
 

Media – 1.5%

       
  4,000     

Comcast Corporation

    5.875     2/15/18        A–        4,580,056   
  3,370     

DIRECTV Holdings LLC

    2.400     3/15/17        BBB        3,443,560   
  2,000     

Dish DBS Corporation

    4.250     4/01/18        BB–        2,087,500   
  1,500     

LIN Television Corporation

    8.375     4/15/18        B+        1,590,000   
  1,000     

TCM Sub LLC

    3.550     1/15/15        A–        1,021,979   
  1,000     

Thomson Reuters Corporation

    1.300     2/23/17        BBB+        994,956   
  1,500     

Virgin Media Finance PLC

    8.375     10/15/19        B        1,608,750   
  14,370     

Total Media

                            15,326,801   
 

Metals & Mining – 2.0%

       
  1,000     

APERAM, 144A, (3)

    7.375     4/01/16        B+        1,030,000   
  3,680     

ArcelorMittal

    4.250     3/01/16        BB+        3,818,000   
  1,500     

Cliffs Natural Resources Inc., (3)

    3.950     1/15/18        BBB–        1,507,712   
  1,500     

Evraz Group S.A, 144A

    8.250     11/10/15        BB–        1,511,700   
  2,200     

Freeport McMoRan Copper & Gold, Inc.

    2.150     3/01/17        BBB        2,232,454   
  1,735     

Rio Tinto Finance USA PLC, (3)

    1.625     8/21/17        A–        1,738,246   
  2,000     

Teck Resources Limited

    3.850     8/15/17        BBB        2,111,892   

 

Nuveen Investments     55   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

Metals & Mining (continued)

       
$ 2,000     

United States Steel Corporation, (3)

    6.050     6/01/17        BB–      $ 2,165,000   
  1,175     

Vale Overseas Limited

    6.250     1/11/16        A–        1,275,242   
  2,500     

Xstrata Finance Canada Limited, 144A

    3.600     1/15/17        BBB        2,603,648   
  19,290     

Total Metals & Mining

                            19,993,894   
 

Multiline Retail – 0.4%

       
  3,397     

Federated Retail Holdings Inc., Macy’s Inc.

    5.900     12/01/16        BBB+        3,778,802   
 

Multi-Utilities – 0.3%

       
  2,665     

Sempra Energy

    2.300     4/01/17        BBB+        2,724,925   
 

Oil, Gas & Consumable Fuels – 4.9%

       
  3,240     

Anadarko Petroleum Corporation

    5.950     9/15/16        BBB–        3,594,631   
  1,000     

Anadarko Petroleum Corporation

    6.375     9/15/17        BBB–        1,144,815   
  2,505     

BP Capital Markets PLC

    2.248     11/01/16        A        2,584,997   
  1,000     

Calumet Specialty Products

    9.625     8/01/20        B+        1,147,500   
  2,000     

CNOOC Finance 2013 Limited

    1.125     5/09/16        AA–        1,999,372   
  775     

CONSOL Energy Inc.

    8.250     4/01/20        BB        841,844   
  2,000     

El Paso Pipeline Partners Operating Company LLC

    4.100     11/15/15        BBB        2,089,934   
  1,500     

Kinder Morgan Inc., Delaware, 144A, (3)

    5.000     2/15/21        BB+        1,502,121   
  2,690     

Kodiak Oil and Gas Corporation, (3)

    8.125     12/01/19        B        2,982,538   
  3,000     

Marathon Petroleum Corporation

    3.500     3/01/16        BBB        3,142,767   
  1,000     

Nabors Industries Inc., 144A

    2.350     9/15/16        BBB        1,023,040   
  1,150     

PBF Holding Company LLC

    8.250     2/15/20        BB+        1,247,750   
  2,975     

Petrobras International Finance Company

    3.500     2/06/17        Baa1        3,007,136   
  2,500     

Petrohawk Energy Corporation

    7.250     8/15/18        A        2,652,500   
  4,345     

Phillips 66

    2.950     5/01/17        Baa1        4,532,595   
  2,000     

Regency Energy Partners Finance, (3)

    6.500     7/15/21        BB        2,145,000   
  1,852     

Sabine Pass LNG LP

    7.500     11/30/16        BB+        2,046,460   
  2,085     

Spectra Energy Partners LP

    2.950     9/25/18        BBB        2,125,447   
  2,545     

Total Capital SA

    2.300     3/15/16        Aa1        2,626,231   
  2,515     

TranCanada Pipelines Limited

    0.750     1/15/16        A–        2,516,773   
  2,755     

Transocean Inc.

    2.500     10/15/17        BBB–        2,772,756   
  2,000     

Whiting Petroleum Corporation, (3)

    5.000     3/15/19        BB+        2,115,000   
  47,432     

Total Oil, Gas & Consumable Fuels

                            49,841,207   
 

Paper & Forest Products – 0.1%

       
  1,000     

Sappi Papier Holding GMBH, 144A

    8.375     6/15/19        BB        1,110,000   
 

Personal Products – 0.2%

       
  2,000     

International Paper Company

    7.950     6/15/18        BBB        2,446,096   

 

  56       Nuveen Investments


Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

Pharmaceuticals – 1.3%

       
$ 3,540     

McKesson Corporation

    1.292     3/10/17        BBB+      $ 3,531,175   
  3,600     

Merck & Company Inc.

    2.250     1/15/16        AA        3,706,488   
  2,000     

Mylan Inc., (3)

    1.350     11/29/16        BBB–        2,003,632   
  2,000     

Watson Pharmaceuticals Inc.

    1.875     10/01/17        BBB–        1,991,008   
  1,000     

Zoetis Incorporated

    1.150     2/01/16        Baa2        1,003,974   
  1,500     

Zoetis Incorporated, (3)

    1.875     2/01/18        Baa2        1,489,737   
  13,640     

Total Pharmaceuticals

                            13,726,014   
 

Real Estate Investment Trust – 1.8%

       
  2,000     

American Tower Company

    4.500     1/15/18        BBB        2,156,874   
  3,000     

ARC Property Operating Partnership LP, Clark Acquisition LLC, 144A

    2.000     2/06/17        BBB–        3,000,886   
  2,000     

BioMed Realty L.P

    3.850     4/15/16        BBB–        2,104,070   
  1,000     

FelCor Lodging LP

    6.750     6/01/19        B2        1,073,750   
  2,000     

First Industrial Realty Trust

    5.950     5/15/17        BBB–        2,199,972   
  3,395     

Health Care REIT Inc.

    3.625     3/15/16        BBB        3,565,307   
  2,000     

Prologis LP

    4.500     8/15/17        BBB+        2,163,402   
  2,000     

Ventas Realty LP

    3.125     11/30/15        BBB+        2,075,424   
  17,395     

Total Real Estate Investment Trust

                            18,339,685   
 

Road & Rail – 0.2%

       
  2,000     

Avis Budget Car Rental

    8.250     1/15/19        BB–        2,145,000   
 

Semiconductors & Equipment – 0.1%

       
  1,000     

NXP BV, 144A

    3.750     6/01/18        BB–        1,005,000   
 

Software – 0.3%

       
  2,490     

Computer Sciences Corporation

    6.500     3/15/18        BBB+        2,868,288   
 

Specialty Retail – 0.6%

       
  3,000     

AutoZone Inc.

    6.950     6/15/16        Baa1        3,366,360   
  2,250     

Best Buy Co., Inc.

    5.000     8/01/18        Baa2        2,331,563   
  5,250     

Total Specialty Retail

                            5,697,923   
 

Tobacco – 0.7%

       
  2,000     

BAT International Finance PLC, 144A

    2.125     6/07/17        A–        2,036,140   
  3,000     

Lorillard Tobacco, (3)

    2.300     8/21/17        Baa2        3,061,014   
  1,860     

Reynolds American Inc.

    1.050     10/30/15        Baa2        1,858,547   
  6,860     

Total Tobacco

                            6,955,701   
 

Trading Companies & Distributors – 0.3%

       
  1,000     

GATX Corporation

    4.750     5/15/15        BBB        1,043,243   
  2,000     

United Rentals North America Inc.

    8.375     9/15/20        B        2,215,000   
  3,000     

Total Trading Companies & Distributors

                            3,258,243   

 

Nuveen Investments     57   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal

Amount (000)

    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

Transportation Infrastructure – 0.6%

       
$ 2,655     

Asciano Finance, 144A

    5.000     4/07/18        Baa2      $ 2,850,987   
  1,200     

Aviation Capital Group Corporation, 144A

    3.875     9/27/16        BBB–        1,243,064   
  2,000     

Penske Truck Leasing, 144A

    3.125     5/11/15        BBB+        2,049,278   
  5,855     

Total Transportation Infrastructure

                            6,143,329   
 

Wireless Telecommunication Services – 1.8%

       
  2,000     

America Movil S.A. de C.V.

    2.375     9/08/16        A2        2,058,000   
  2,000     

Crown Castle Towers LLC, 144A

    4.523     1/15/15        A2        2,045,790   
  2,170     

Deutsche Telekom International Finance BV

    5.750     3/23/16        BBB+        2,370,788   
  3,420     

SBA Tower Trust, 144A

    3.598     4/15/43        BBB        3,342,770   
  4,730     

Verizon Communications

    3.650     9/14/18        A–        5,035,235   
  3,000     

Viacom Inc.

    6.250     4/30/16        BBB+        3,323,924   
  17,320     

Total Wireless Telecommunication Services

                            18,176,507   
$ 456,104     

Total Corporate Bonds (cost $470,734,561)

                            477,160,841   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

CONVERTIBLE BONDS – 0.2%

       
 

Leisure Equipment & Products – 0.2%

       
$ 2,000     

Hasbro Inc.

    6.300     9/15/17        BBB+      $ 2,258,250   
$ 2,000     

Total Convertible Bonds (cost $2,233,443)

                            2,258,250   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 0.6%

       
 

Diversified Financial Services – 0.6%

       
$ 5,000     

Citigroup Inc.

    8.400     N/A (4)        BB+      $ 5,756,250   
$ 5,000     

Total $1,000 Par (or similar) Institutional Preferred (cost $5,781,250)

                            5,756,250   
Principal
Amount (000)
    Description (1)          Optional Call
Provisions (5)
    Ratings (2)     Value  
 

MUNICIPAL BONDS – 3.0%

       
 

Arizona – 0.5%

       
 

Phoenix Civic Improvement Corporation, Arizona, Excise Tax Revenue Bonds, Taxable Series 2011:

       
$ 2,800     

2.302%, 7/01/14

      No Opt. Call        AA      $ 2,812,768   
  2,000     

2.828%, 7/01/15

            No Opt. Call        AA        2,054,760   
  4,800     

Total Arizona

                            4,867,528   
 

California – 0.4%

       
  1,015     

California State, General Obligation Bonds, Various Purpose Build America Taxable Bond Series 2010, 5.750%, 3/01/17

      No Opt. Call        A1        1,144,484   

 

  58       Nuveen Investments


Principal
Amount (000)
    Description (1)          Optional Call
Provisions (5)
    Ratings (2)     Value  
 

California (continued)

       
$ 2,640     

San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Taxable Second Series 2011E, 2.021%, 5/01/14

            No Opt. Call        A+      $ 2,643,617   
  3,655     

Total California

                            3,788,101   
 

Guam – 0.2%

       
 

Government of Guam, Business Privilege Tax Bonds, Taxable Series 2012B-2:

       
  1,155     

2.933%, 1/01/17

      No Opt. Call        A        1,164,356   
  1,190     

3.301%, 1/01/18

            No Opt. Call        A        1,180,670   
  2,345     

Total Guam

                            2,345,026   
 

Massachusetts – 0.6%

       
 

Massachusetts Port Authority, Special Facilities Revenue Bonds, ConRac Project Series 3011B:

       
  3,260     

1.910%, 7/01/14

      No Opt. Call        A        3,269,682   
  400     

3.230%, 7/01/15

      No Opt. Call        A        411,328   
  2,750     

University of Massachusetts Building Authority, Project Revenue Bonds, Senior Series 2014-2, 1.185%, 11/01/17

            No Opt. Call        Aa2        2,743,510   
  6,410     

Total Massachusetts

                            6,424,520   
 

Nevada – 0.3%

       
  2,500     

Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Taxable Series 2011B, 3.176%, 6/01/17

            No Opt. Call        AA+        2,634,875   
 

Ohio – 0.2%

       
  1,470     

Ohio State, General Obligation Bonds, Higher Education, Build America Bond Series 2010E, 3.328%, 8/01/17 – AGM Insured

            No Opt. Call        AA+        1,583,043   
 

Pennsylvania – 0.2%

       
  1,500     

Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, Taxable Series 2012B, 4.120%, 5/01/16

            No Opt. Call        Baa2        1,544,025   
 

Texas – 0.6%

       
  1,500     

Dallas-Fort Worth International Airport Facility Improvement Corporation, Texas, Learjet Inc. Project, Revenue Bonds,
Series 2001-A1, 6.150%, 1/01/16 (Alternative Minimum Tax)

      No Opt. Call        Ba3        1,493,805   
  5,000     

Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Taxable Series 2011E, 1.770%, 11/01/14

            No Opt. Call        A+        5,045,200   
  6,500     

Total Texas

                            6,539,005   
$ 29,180     

Total Municipal Bonds (cost $29,345,904)

                            29,726,123   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 1.1%

       
$ 5,000     

Fannie Mae Notes, (3)

    0.500     3/30/16        Aaa      $ 5,003,355   
  5,000     

Federal Home Loan Bank Bonds

    1.375     5/28/14        Aaa        5,010,085   

 

Nuveen Investments     59   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)

       
$ 900     

U.S. Treasury Notes

    0.250     1/31/15        Aaa      $ 901,020   
  55     

U.S. Treasury Securities STRIPS (I/O)

    0.000     5/15/14        Aaa        54,996   
$ 10,955     

Total U.S. Government and Agency Obligations
(cost $10,956,737)

                            10,969,456   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 46.3%

  

     
$ 692     

ACE Securities Corporation, Manufactured Housing Trust
Series 2003-MH1

    6.500     5/15/29        AA      $ 740,243   
  2,500     

American Express Credit Card Trust 2012-2

    0.680     3/15/18        AAA        2,504,630   
  5,170     

American Tower Company, 144A

    1.551     3/15/43        Aaa        5,049,994   
  4,770     

AmeriCold LLC Trust, Series 2010

    2.500     1/17/29        AAA        4,779,745   
  633     

Amortizing Residential Collateral Trust Series 2002-BC4 M1

    1.204     7/25/32        BBB+        599,585   
  850     

Bank of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2005-4

    4.933     7/10/45        AAA        886,532   
  2,432     

Bayview Opportunity Master Fund Trust, 2013-8NPL

    3.228     3/28/33        N/R        2,431,526   
  4,970     

Cabela’s Master Credit Card Trust, Series 2010-1A

    1.605     1/15/18        AAA        5,017,260   
  4,290     

Cabela’s Master Credit Card Trust, Series 2010-2A

    2.290     9/15/18        AAA        4,392,458   
  3,000     

Cabela’s Master Credit Card Trust, Series 2011-A2

    0.685     2/18/20        AAA        3,023,295   
  1,600     

California Republic Auto Receivables Trust 2013-2

    1.230     3/15/19        Aa3        1,603,269   
  4,286     

CAM Mortgage Trust 2013-1

    3.352     12/15/53        N/R        4,289,757   
  336     

CAM Mortgage Trust 2013-1

    3.967     11/25/57        N/R        336,323   
  8,000     

Capital One Multi-Asset Execution Trust 2007-A2

    0.235     12/15/19        AAA        7,952,944   
  3,000     

Capital One Multi-Asset Execution Trust, Cards Series 2006-A11

    0.245     6/15/19        AAA        2,988,024   
  3,112     

CarFinance Capital Auto Trust, Automobile Receivables-Backed Notes, Series 2013-1, 144A

    1.650     7/17/17        A3        3,123,486   
  575     

CarMax Auto Owner Trust 2010-3

    2.000     5/16/16        Aaa        580,385   
  1,756     

CarNow Auto Receivables Trust 2013-1A

    1.160     10/16/17        AA        1,755,454   
  1,518     

CenterPoint Energy Restoration Bond Company LLC, Senior Secured System Restoration Bonds, Series 2009-1

    1.833     2/15/16        AAA        1,530,558   
  2,595     

Centerpoint Energy Transition Bond Company LLC

    0.901     4/15/18        AAA        2,608,352   
  8,500     

CitiBank Omni Master Trust, Series 2009-A12, 144A

    2.905     8/15/18        Aaa        8,582,739   
  334     

Citicorp Mortgage Securities I, REMIC Pass-Through Certificates,
Series 2007-9

    5.500     12/25/22        Ba3        335,022   
  652     

Citicorp Mortgage Securities Inc., REMIC Pass-Through Certificates, Series 2006-1 5A1

    5.500     2/25/26        Caa1        666,480   
  4,470     

Commercial Mortgage Trust 2014-BBG

    0.955     3/15/29        AAA        4,472,633   
  969     

Countrywide ABS Asset-Backed Certificate Trust 2007-9

    0.284     6/25/47        B–        957,484   
  781     

Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-19CB

    6.000     8/25/36        Caa3        683,437   
  3,364     

Countrywide Asset Backed Certificates 2005-3

    5.308     3/25/33        BB        3,438,408   

 

  60       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

     
$ 3,482     

Countrywide Asset Backed Certificates, Series 2007-4 A2

    5.530     3/25/29        Caa1      $ 3,168,496   
  2,345     

Countrywide Home Loans, Asset Backed Certificates Series 2007-7

    0.314     10/25/47        AAA        2,298,197   
  181     

Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-2

    2.500     2/25/34        A        174,404   
  2,500     

Credit Suisse Commercial Mortgage Trust, Pass-Through Certificates Series 2007-4

    5.971     9/16/39        Ba1        2,691,593   
  6,661     

Credit Suisse Commercial Mortgage Trust, Series 2013-6

    2.500     7/25/28        AAA        6,455,953   
  4,821     

Credit Suisse Commercial Mortgage Trust 2013-IVR4

    3.000     7/25/43        AAA        4,748,986   
  589     

Credit Suisse First Boston Mortgage Securities Corporation, Mortgage-Backed Pass-Through Certificates, Series 2003-23

    5.750     9/25/33        AA+        628,696   
  1,932     

Credit-Based Asset Servicing and Securitization Pool 2007-SP1

    6.020     12/25/37        A+        2,055,186   
  2,405     

DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-LC3A

    3.642     8/12/44        Aaa        2,529,387   
  700     

Developers Diversified Realty Corporation, Commercial Mortgage Pass-Through Certificates Series 2009-DDR1

    5.730     10/17/22        AAA        712,326   
  4,000     

Discover Card Master Trust 2013-A1

    0.455     8/17/20        AAA        4,001,872   
  6,000     

Dryrock Issuance Trust 2013-1

    0.495     7/16/18        AAA        6,007,086   
  1,002     

Energy Texas Restoration Funding LLC

    2.120     2/01/16        AAA        1,010,697   
  5,891     

Entergy Arkansas Restoration Funding LLC, Senior Secured Storm Recovery Bonds, Series 2010-A

    2.300     8/01/21        AAA        6,023,828   
  5,042     

Entergy Louisiana Investment Recovery Funding LLC, Series 2011-A

    2.040     9/01/23        AAA        5,038,202   
  48     

Equivantage Acceptance Corporation, Home Equity Loan Asset-Backed Certificates, Series 1996-4

    7.250     1/25/28        BB+        47,480   
  2,208     

Extended Stay America Trust 2013-ESFL

    0.955     12/05/31        AAA        2,213,220   
  4,435     

Extended Stay America Trust 2013-ESFL

    0.855     12/05/31        AAA        4,437,856   
  1,398     

Fannie Mae Alternative Credit Enhanced Securities

    2.210     9/25/20        Aaa        1,423,105   
  7,434     

Fannie Mae Alternative Credit Enhanced Securities

    2.072     7/25/21        Aaa        7,557,386   
  5,641     

Fannie Mae Connecticut Avenue Securities, Series 2013-C01

    2.154     10/25/23        BBB–        5,746,163   
  1,323     

Fannie Mae Mortgage Interest Strips 366 25 (I/O)

    5.000     9/01/24        Aaa        120,961   
  1,473     

Fannie Mae Mortgage Pool AD0486

    2.344     4/01/34        Aaa        1,569,538   
  1,053     

Fannie Mae Mortgage Pool AD0550

    2.395     8/01/37        Aaa        1,115,545   
  1,171     

Fannie Mae Mortgage Pool AD0706

    2.298     3/01/38        Aaa        1,249,044   
  1,812     

Fannie Mae Mortgage Pool AE0058

    2.351     7/01/36        Aaa        1,930,463   
  1,592     

Fannie Mae Mortgage Pool AL2720

    3.000     11/01/27        Aaa        1,637,449   
  5,370     

Fannie Mae Mortgage Pool AO9636

    2.500     7/01/27        Aaa        5,384,117   
  4,872     

Fannie Mae Mortgage Pool MA0586

    3.500     12/01/25        Aaa        5,111,373   
  2,140     

Fannie Mae Mortgage Pool MA0771

    3.500     6/01/21        Aaa        2,252,014   
  187     

Fannie Mae Mortgage Pool 433988

    2.210     11/01/25        Aaa        193,670   
  579     

Fannie Mae Mortgage Pool 535363

    5.047     12/01/31        Aaa        624,803   
  71     

Fannie Mae Mortgage Pool 545717

    2.170     5/01/32        Aaa        75,730   
  9     

Fannie Mae Mortgage Pool 545791

    2.371     3/01/32        Aaa        9,500   

 

Nuveen Investments     61   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

       
$ 126     

Fannie Mae Mortgage Pool 555369

    2.311     8/01/36        Aaa      $ 134,074   
  123     

Fannie Mae Mortgage Pool 625338

    2.194     6/01/31        Aaa        131,650   
  121     

Fannie Mae Mortgage Pool 634948

    2.415     5/01/32        Aaa        122,699   
  19     

Fannie Mae Mortgage Pool 661645

    2.221     10/01/32        Aaa        19,608   
  128     

Fannie Mae Mortgage Pool 671884

    2.259     12/01/32        Aaa        129,219   
  1,191     

Fannie Mae Mortgage Pool 725721

    2.483     6/01/34        Aaa        1,261,166   
  924     

Fannie Mae Mortgage Pool 745922

    2.470     7/01/35        Aaa        977,421   
  130     

Fannie Mae Mortgage Pool 775389

    2.133     4/01/34        Aaa        132,505   
  1,089     

Fannie Mae Mortgage Pool 795242

    1.925     7/01/34        Aaa        1,158,097   
  900     

Fannie Mae Mortgage Pool 797182

    2.323     11/01/34        Aaa        945,714   
  1,989     

Fannie Mae Mortgage Pool 819652

    2.465     3/01/35        Aaa        2,095,733   
  98     

Fannie Mae Mortgage Pool 838948

    1.885     8/01/35        Aaa        104,818   
  704     

Fannie Mae Mortgage Pool 838958

    2.260     8/01/35        Aaa        752,074   
  992     

Fannie Mae Mortgage Pool 841068

    2.485     11/01/34        Aaa        1,058,115   
  423     

Fannie Mae Mortgage Pool 848390

    1.914     12/01/35        Aaa        445,103   
  449     

Fannie Mae Mortgage Pool 886034

    2.685     7/01/36        Aaa        481,512   
  438     

Fannie Mae Mortgage Pool 995949

    2.456     9/01/36        Aaa        465,564   
  28     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1992-150 MA

    5.500     9/25/22        Aaa        30,036   
  263     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2004-90 GA

    4.350     3/25/34        Aaa        267,559   
  903     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2004-90 GF

    0.454     11/25/34        Aaa        905,218   
  842     

Fannie Mae REMIC Pass-Through Certificates 2010-M1 A1

    3.305     9/25/19        Aaa        875,651   
  1,176     

Fannie Mae REMIC Pass-Through Certificates 2011-6 BA

    2.750     6/25/20        Aaa        1,212,998   
  2,557     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2013-M3 ASQ2

    1.083     2/25/16        Aaa        2,574,653   
  3,919     

Fannie Mae, Connecticut Avenue Securities Series 2014-C01

    1.754     1/25/24        Baa2        3,960,220   
  2,563     

FDIC Structures Sale Guaranteed Notes, Series 2010-S1

    3.250     4/25/38        Aaa        2,638,666   
  1,472     

FDIC Structures Sale Guaranteed Notes, Series 2010-S1

    0.703     2/25/48        Aaa        1,472,421   
  566     

FDIC Trust 2001-C1

    1.840     4/25/31        Aaa        568,457   
  1,298     

FDIC Trust 2012-C1

    0.841     5/25/35        Aaa        1,299,679   
  10     

Federal Home Loan Mortgage Corporation, REMIC 1022 J

    6.000     12/15/20        Aaa        10,468   
  435     

Federal Home Loan Mortgage Corporation, REMIC 2629 BO

    3.250     3/15/18        Aaa        441,897   
  2,500     

Fifth Third Auto Trust, Series 2013 A B

    1.210     4/15/19        Aa3        2,504,255   
  710     

Ford Credit Auto Owner Trust 10A

    2.930     11/15/15        AAA        716,216   
  1,480     

Ford Credit Floorplan Master Owner Trust Series 2010-3

    4.200     2/15/17        AAA        1,527,792   
  2,703     

Fosse Master Issuer PLC, Residential Mortgage Pool, Series 2011-1A

    1.637     10/19/54        AAA        2,710,893   
  447     

Freddie Mac Gold Pool 780456

    2.347     5/01/33        Aaa        470,016   
  798     

Freddie Mac Gold Pool 780911

    2.344     10/01/33        Aaa        849,909   

 

  62       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

     
$ 984     

Freddie Mac Gold Pool 781296

    2.362     3/01/34        Aaa      $ 1,041,066   
  225     

Freddie Mac Gold Pool 786591

    2.482     12/01/26        Aaa        241,777   
  103     

Freddie Mac Gold Pool 786853

    2.260     10/01/29        Aaa        107,830   
  178     

Freddie Mac Gold Pool 846946

    2.347     1/01/29        Aaa        189,668   
  66     

Freddie Mac Gold Pool 847014

    2.006     5/01/30        Aaa        67,506   
  81     

Freddie Mac Gold Pool 847063

    2.451     10/01/32        Aaa        87,050   
  825     

Freddie Mac Gold Pool 847241

    2.302     10/01/30        Aaa        854,700   
  1,524     

Freddie Mac Gold Pool 847331

    2.256     8/01/32        Aaa        1,613,423   
  90     

Freddie Mac Gold Pool 847367

    2.184     6/01/31        Aaa        95,138   
  470     

Freddie Mac Gold Pool 847652

    2.296     9/01/32        Aaa        493,256   
  1,518     

Freddie Mac Gold Pool 848193

    2.515     3/01/36        Aaa        1,607,450   
  1,698     

Freddie Mac Gold Pool 848282

    2.418     6/01/38        Aaa        1,804,674   
  200     

Freddie Mac Gold Pool 972055

    3.750     4/01/30        Aaa        213,739   
  124     

Freddie Mac Mortgage Pool, Various M30035

    4.500     4/01/22        Aaa        129,610   
  4,341     

Freddie Mac Mortgage Trust 2013-KF02

    2.823     12/25/45        Baa3        4,424,386   
  1,000     

Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series 2012-K711

    3.562     8/25/45        A–        1,001,195   
  1,004     

Freddie Mac Multi-Class Certificates 3780 FE

    0.555     12/15/20        Aaa        1,010,796   
  2,500     

Freddie Mac Multifamily Mortgage Trust, Series 2011-K704, 144A

    4.533     10/25/30        AA+        2,633,263   
  621     

Freddie Mac Non Gold Participation Certificates 1L1462

    2.291     8/01/36        Aaa        651,336   
  4,000     

GE Equipment Transportation LLC, Equipment Loan Asset Backed Securities, Series 2013-2

    0.610     6/24/16        Aaa        4,003,040   
  5,000     

Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2011-GC3

    3.645     3/11/44        Aaa        5,236,635   
  12,301     

Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-GG10, (3)

    5.819     8/10/45        A        13,641,074   
  3,907     

Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2010-C1

    3.679     8/12/43        Aaa        4,109,414   
  2,130     

Goldman Sachs Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2011-GC5

    2.999     8/10/44        Aaa        2,214,989   
  447     

Government National Mortgage Association, Guaranteed REMIC Pass-Through Securities and MX Securities Trust NR 2009-62 EJ

    4.500     5/16/38        Aaa        473,939   
  19     

Government National Mortgage Association Pool 80106

    1.625     8/20/27        Aaa        19,564   
  28     

Government National Mortgage Association Pool 80154

    1.625     1/20/28        Aaa        28,719   
  71     

Government National Mortgage Association Pool 80283

    1.625     5/20/29        Aaa        74,251   
  137     

Government National Mortgage Association Pool 80469

    1.625     11/20/30        Aaa        142,361   
  43     

Government National Mortgage Association Pool 80507

    1.625     4/20/31        Aaa        44,997   
  163     

Government National Mortgage Association Pool 80535

    1.625     8/20/31        Aaa        168,916   
  34     

Government National Mortgage Association Pool 80580

    1.625     2/20/32        Aaa        35,084   
  69     

Government National Mortgage Association Pool 8824

    2.000     8/20/21        Aaa        72,056   

 

Nuveen Investments     63   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

       
$ 102     

Government National Mortgage Association Pool 8006

    1.625     7/20/22        Aaa      $ 106,101   
  63     

Government National Mortgage Association Pool 8699

    1.625     9/20/25        Aaa        65,331   
  52     

Government National Mortgage Association Pool 8847

    1.625     4/20/26        Aaa        54,252   
  4,525     

GP Portfolio Trust 2014-GPP A

    2.910     2/16/27        BBB–        4,530,864   
  4,250     

GraceChurch Card PLC. Series 2012-1A.

    0.855     2/15/17        AAA        4,266,584   
  3,491     

GraceChurch Mortgage Financing PLC, Series 2011-1A

    1.785     11/20/56        AAA        3,526,153   
  4,500     

Greenwich Capital Commercial Funding Corporation, Commercial Mortgage Pass-Through Certificates Series 2007-GG9

    5.475     3/10/39        BBB        4,840,947   
  3,010     

Greenwich Capital Commercial Funding Corporation, Commercial Mortgage Pass-Through Certificates Series 2007-GG9

    5.444     3/10/39        AAA        3,297,572   
  7,050     

Greenwich Capital Commercial Funding Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-GG11, (3)

    5.736     12/10/49        AAA        7,852,382   
  3,014     

Holmes Master Issuer PLC, Residential Mortgage Pool,
Series 2012-1A, 144A

    1.889     10/15/54        AAA        3,047,343   
  7,000     

Home Loan Servicing Solutions Servicer Advance Receivables Backed Notes Issue 2013-T6

    1.287     9/15/44        AAA        7,010,500   
  500     

Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2012-T2

    4.940     10/15/45        BBB        511,900   
  2,250     

Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2013-T2

    1.147     5/16/44        AAA        2,242,350   
  5,000     

Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2013-T7

    1.981     11/15/46        AAA        5,006,500   
  9,275     

Honda Auto Receivables Owner Trust 2014- 1

    0.410     9/21/16        Aaa        9,268,999   
  4,500     

Hyundai Auto Receivables Trust 2014-A

    0.790     7/16/18        AAA        4,490,487   
  796     

IMC Home Mortgage Company, Home Equity Loan Pass-Through Certificates, Series 1998-3

    6.791     8/20/29        AA        798,894   
  6,692     

Impac Secured Assets Corporation, Mortgage Pass-Through Certificates, Series 2006-5 2A

    0.354     12/25/36        Baa2        6,155,383   
  295     

IndyMac INDX Mortgage Loan Trust, Pass-Through Certificates,
Series 2005-AR1

    2.459     3/25/35        BBB+        294,381   
  3,236     

Invitation Homes Trust 2013-SFR1

    1.400     12/17/30        Aaa        3,236,045   
  2,500     

Invitation Homes Trust 2013-SFR1

    2.400     12/19/30        Baa2        2,493,780   
  3,710     

JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C1

    3.853     6/15/43        Aaa        3,814,857   
  2,817     

JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C2 A1

    2.749     11/15/43        AAA        2,895,920   
  7,195     

JPMorgan Chase Commercial Mortgage Securities Corporation, Pass-Through Certificates Trust 2013-FL3

    0.855     4/15/28        AAA        7,175,645   
  7,040     

JPMorgan Chase Commercial Mortgage Securities Trust Pass-Through Certificates Series 2013-JWRZ

    0.935     4/15/30        AAA        6,991,544   
  679     

JPMorgan Chase Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C4

    1.525     7/17/46        AAA        679,362   

 

  64       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

     
$ 9,000     

JPMorgan JPMBB Commercial Mortgage Securities Trust, Pass-Through Certificates, Series 2013-C12

    2.424     7/17/45        AAA      $ 9,122,787   
  5,282     

Master Resecuritization Trust 2009-1

    6.000     10/25/36        A        5,666,034   
  2,758     

Merrill Lynch Mortgage Investors Inc., C-BASS Mortgage Loan Asset Backed Certificates Series 2004-CB8

    5.158     12/25/31        AAA        2,783,705   
  2,750     

ML_CFC Commercial Mortgage Trust, Pass Through Certificates, Series 2007-8

    5.894     8/12/49        BB        2,810,084   
  1,537     

Monty Parent Issuer LLC 2013-LTR1

    3.470     11/20/28        CCC        1,537,766   
  538     

Morgan Stanley ABS Capital I Inc., Mortgage Pass-Through Certificates, Series 2007-NC2

    0.264     2/25/37        CCC        294,694   
  490     

Morgan Stanley Capital I Inc Trust, Mortgage Pass-Through Certificates, Series 2006-NC2

    0.334     2/25/36        B2        485,188   
  3,344     

Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C1

    2.602     9/15/47        AAA        3,395,212   
  111     

Mortgage Asset Securitization Transaction Inc., Alternative Loan Trust Mortgage Pass-Through Certificates, Series 2004-13

    8.000     1/25/35        B+        115,520   
  1,506     

Mortgage Asset Securitization Transaction Inc., Adjustable Rate Mortgage Pass-Through Certificates, Series 2003-5

    2.105     11/25/33        A+        1,444,041   
  5,000     

Motel 6 Trust 2012-MTL6

    1.948     10/07/25        AAA        4,961,550   
  1,747     

Motor Plc A A1C

    1.286     2/25/20        Aaa        1,748,122   
  1,083     

National Credit Union Administration, Guaranteed Notes Series 2011-R1

    0.606     1/08/20        Aaa        1,088,287   
  1,042     

National Credit Union Administration Guaranteed Structured Collateral Notes

    2.900     10/29/20        Aaa        1,080,241   
  764     

National Credit Union Administration, Guaranteed Notes, Series 2010-R1

    1.840     10/07/20        Aaa        770,603   
  1,757     

Nationstar Agency Fund Trust, Series 2013-T1A FT1

    5.926     2/15/45        A        1,756,227   
  1,000     

Nationstar Mortgage Advance Receivables Trust 2013-T3

    3.819     6/22/48        BBB        982,000   
  4,000     

New Residential Advance Receivables Trust 2014-T1

    1.274     3/15/45        AAA        4,000,272   
  921     

Newcastle Investment Trust, Manufactured Housing Contracts and Loans, Series 2010-MH1

    4.500     7/10/35        AAA        927,296   
  1,338     

Newcastle Investment Trust, Manufactured Housing Loans, Series 2011-MH1

    2.450     12/10/33        AAA        1,348,597   
  2,000     

NLY Commercial Mortgage Trust 2014-FL1

    2.755     11/18/30        A–        2,003,774   
  401     

RBSSP Resecuritization Trust 2009-10

    0.254     3/26/37        N/R        197,313   
  2,487     

RBSSP Resecuritization Trust 2009-5

    0.654     8/26/37        BBB        2,393,868   
  4,076     

RBSSP Resecuritization Trust, Series 2012-8 1A1

    0.316     10/28/36        N/R        3,887,664   
  4,585     

Residential Asset Mortgage Products, Pass-Through Certificates, 2006-RZ4

    0.334     10/25/35        B1        4,345,256   
  2,993     

Santander Drive Auto Receivables Trust Series 2011-4

    2.900     5/16/16        Aaa        3,007,635   
  3,000     

Santander Drive Auto Receivables Trust, Series 2014-1

    1.590     10/15/18        AA        3,003,624   
  3,472     

Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2013-1 1A1

    1.450     2/25/43        Aaa        3,321,945   
  400     

Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2007-1

    2.382     2/20/47        CCC        336,596   

 

Nuveen Investments     65   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

       
$ 263     

SMA Issuer LLC 2012-LV1

    3.500     8/20/25        Baa3      $ 262,478   
  2,429     

Springleaf Mortgage Loan Trust 2011-1

    4.050     1/25/58        AAA        2,542,370   
  1,978     

Springleaf Mortgage Loan Trust, Series 2012-3

    1.570     12/25/59        AAA        1,976,870   
  5,544     

Springleaf Mortgage Loan Trust, Series 2013-1A

    1.270     6/25/58        AAA        5,522,791   
  5,700     

Springleaf Mortgage Loan Trust 2013-3A

    1.870     9/25/57        AAA        5,699,181   
  924     

Stanwich Mortgage Loan Trust, Series 2012-NPL5

    2.981     10/16/42        N/R        924,333   
  145     

Structured Adjustable Rate Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2004-11

    2.535     8/25/34        N/R        143,498   
  5,628     

Structured Agency Credit Risk Debt Notes, 2013-DN2

    1.604     11/25/23        Baa1        5,660,062   
  3,475     

Structured Agency Credit Risk 2014-DN1

    1.154     2/25/24        A1        3,485,511   
  640     

Thornburg Mortgage Securities Trust, Mortgage Loan Pass-Through Certificates, Series 2007-4

    6.095     9/25/37        BBB+        669,406   
  656     

U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2005-10B

    4.940     8/10/15        Aaa        681,504   
  146     

U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2006-10A

    5.408     2/10/16        Aaa        153,646   
  526     

U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates Series 2005-P10A

    4.638     2/10/15        Aaa        538,753   
  181     

U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates, Series 2007-10A

    5.459     2/10/17        Aaa        194,463   
  3,602     

UBS-Barclays Commercial Mortgage Trust 2012-C2

    1.006     5/11/63        Aaa        3,612,065   
  4,632     

Vericrest Opportunity Loan Transferee, Private CMO 2013 NPL1

    4.250     9/25/58        N/R        4,646,102   
  3,471     

Vericrest Opportunity Loan Transferee, Series 2013-NPL6

    3.625     3/25/54        N/R        3,489,033   
  3,781     

Vornado DP LLC Commercial Mortgage Credit Tenant Lease Series 2010-VNO

    2.970     9/14/28        AAA        3,915,101   
  675     

Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-WHl8

    0.235     6/15/20        Aaa        669,262   
  6,517     

Walter Investment Management Company Capital Trust, Series 2012-AA

    4.549     10/16/50        BBB        6,597,198   
  626     

Wells Fargo Mortgage Backed Securities Trust, Mortgage Pass-Through Certificate Series 2007-2

    5.750     3/25/37        Caa2        590,051   
  1,107     

Wells Fargo Mortgage Backed Securities Trust, Mortgage Pass-Through Certificate Series 2006-AR14

    2.622     10/25/36        Caa2        1,028,802   
  28     

Wells Fargo Mortgage Backed Securities, 2005-AR16 Class 3A2

    2.617     10/25/35        BBB–        27,904   
  4,135     

Wells Fargo-RBS Commercial Mortgage Trust Series 2012-C9

    0.673     11/17/45        Aaa        4,119,248   
  3,163     

Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3

    1.988     3/17/44        Aaa        3,198,543   
  1,828     

WF-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C2

    2.501     2/18/44        Aaa        1,850,139   
$ 470,661     

Total Asset-Backed and Mortgage-Backed Securities (cost $473,018,516)

                            475,227,618   

 

  66       Nuveen Investments


Principal
Amount (000) (6)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

SOVEREIGN DEBT – 0.4%

       
 

Mexico – 0.4%

       
  510  MXN   

United Mexican States

    9.500     12/18/14        A      $ 4,065,714   
  510  MXN   

Total Sovereign Debt (cost $4,511,337)

                            4,065,714   
 

Total Long-Term Investments (cost $996,581,748)

                            1,005,164,252   
Shares     Description (1)   Coupon                   Value  
 

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 2.7%

  

     
 

Money Market Funds – 2.7%

       
  28,192,638     

Mount Vernon Securities Lending Trust Prime Portfolio, (8)

    0.182 % (7)                    $ 28,192,638   
 

Total Investments Purchased with Collateral from Securities Lending (cost $28,192,638)

  

            28,192,638   
Shares     Description (1)   Coupon                   Value  
 

SHORT-TERM INVESTMENTS – 1.7%

       
 

Money Market Funds – 1.7%

       
  17,622,099     

First American Treasury Obligations Fund, Class Z

    0.000 % (7)                    $ 17,622,099   
 

Total Short-Term Investments (cost $17,622,099)

                            17,622,099   
 

Total Investments (cost $1,042,396,485) – 102.5%

                            1,050,978,989   
 

Other Assets Less Liabilities – (2.5)%

                            (25,229,602
 

Net Assets – 100%

                          $ 1,025,749,387   

Investments in Derivatives as of March 31, 2014

Interest Rate Swaps outstanding:

 

Clearing House    Notional
Amount
     Fund
Pay/Receive
Floating Rate
     Floating Rate Index      Fixed Rate
(Annualized)
     Fixed Rate
Payment
Frequency
     Termination
Date
     Value      Unrealized
Appreciation
(Depreciation)
 

Citigroup

   $ 10,000,000         Receive         3-Month USD-LIBOR-BBA         2.739      Semi-Annually         11/21/23       $ (44,058    $ (44,521

Futures Contracts outstanding:

 

Description      Contract
Position
       Number of
Contracts
     Contract
Expiration
      

Notional

Amount at

Value

     Unrealized
Appreciation
(Depreciation)
 

U.S. Treasury 5-Year Note

       Short           (751      6/14         $ (89,333,797    $ 467,203   

U.S. Treasury 10-Year Note

       Short           (217      6/14           (26,799,500      143,196   
                                      $ (116,133,297    $ 610,399   

 

Nuveen Investments     67   


Nuveen Short Term Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

        Level 1        Level 2        Level 3        Total  
Long-Term Investments:                    

Corporate Bonds

     $         $ 477,160,841         $         $ 477,160,841   

Convertible Bonds

                 2,258,250                     2,258,250   

$1,000 Par (or similar) Institutional Preferred

                 5,756,250                     5,756,250   

Municipal Bonds

                 29,726,123                     29,726,123   

U.S. Government and Agency Obligations

                 10,969,456                     10,969,456   

Asset-Backed and Mortgage-Backed Securities

                 475,227,618                     475,227,618   

Sovereign Debt

                 4,065,714                     4,065,714   
Investments Purchased with Collateral from Securities Lending        28,192,638                               28,192,638   
Short-Term Investments:                    

Money Market Funds

       17,622,099                               17,622,099   
Investments in Derivatives:                    

Interest Rate Swaps*

                 (44,521                  (44,521

Futures Contracts*

       610,399                               610,399   
Total      $ 46,425,136         $ 1,005,119,731         $  —         $ 1,051,544,867   
* Represents net unrealized appreciation (depreciation).

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. 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 March 31, 2014, the cost of investments (excluding investments in derivatives) was $1,042,396,485

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2014, were as follows:

 

Gross unrealized:           

Appreciation

     $ 12,418,134   

Depreciation

       (3,835,630
Net unrealized appreciation (depreciation) of investments      $ 8,582,504   

 

  68       Nuveen Investments


 

  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.

 

(2) 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.

 

(3) Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $27,385,823.

 

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

 

(5) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.

 

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

 

(7) The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

 

(8) The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund.

 

(I/O) Interest only security.

 

REIT Real Estate Investment Trust.

 

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.

 

MXN Mexican Peso.

 

USD-LIBOR-BBA United States Dollar-London Inter-Bank Offered Rate British Bankers’ Association.

 

Nuveen Investments     69   


Nuveen Intermediate Government Bond Fund

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

LONG-TERM INVESTMENTS – 95.3%

       
 

CORPORATE BONDS – 0.5%

       
 

Health Care Providers & Services – 0.5%

       
$ 400     

Catholic Health Initiatives

    1.600     11/01/17        Aa3      $ 392,070   
$ 400     

Total Corporate Bonds (cost $399,884)

                            392,070   
Principal
Amount (000)
    Description (1)   Optional Call
Provisions (3)
           Ratings (2)     Value  
 

MUNICIPAL BONDS – 3.5%

       
 

Connecticut – 0.4%

       
$ 385     

Connecticut State, General Obligation Bonds, Various Purpose Taxable Series 2012B, 0.465%, 10/15/14

    No Opt. Call                AA      $ 385,674   
 

Louisiana – 0.6%

       
  500     

Louisiana Local Government Environmental Facilities and Community Development Authority, System Restoration Revenue Bonds, Louisiana Utilities Restoration Corporation Project/EGSL, Series 2010, 3.220%, 2/01/21

    No Opt. Call                AAA        522,575   
 

Maryland – 0.7%

       
  570     

Baltimore County, Maryland, General Obligation Bonds, Taxable, Series 2012, 0.554%, 8/01/15

    No Opt. Call                AAA        570,342   
 

Ohio – 1.8%

       
  145     

Akron, Ohio, General Obligation Bonds, Refunding Various Purpose Series 2014B, 0.950%, 12/01/16

    No Opt. Call          AA–        144,752   
  285     

Hamilton County, Ohio, Sewer System Revenue Bonds, Metropolitan Sewer District of Greater Cincinnati, Refunding Series 2013B, 1.233%, 12/01/16

    No Opt. Call          AA+        287,656   
  250     

Kings Local School District, Warren County, Ohio, General Obligation School Improvement Bonds, Federally Taxable, Series 2013B, 3.750%, 12/01/18

    No Opt. Call          AA        268,738   
  845     

Ohio State, General Obligation Bonds, Higher Education, Build America Bond Series 2010E, 3.328%, 8/01/17 – AGM Insured

    No Opt. Call                AA+        909,980   
  1,525     

Total Ohio

                            1,611,126   
$ 2,980     

Total Municipal Bonds (cost $3,089,004)

                            3,089,717   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (2)     Value  
 

U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 47.9%

  

     
$ 665     

Fannie Mae Notes

    1.000     9/20/17        Aaa      $ 660,698   
  340     

Fannie Mae Notes

    1.000     4/30/18        Aaa        331,968   
  1,000     

Fannie Mae Notes

    1.250     9/27/18        Aaa        982,768   
  595     

Fannie Mae Notes, (4)

    1.875     2/19/19        Aaa        596,883   
  700     

Federal Farm Credit Banks, Consolidated Systemwide Notes

    3.000     9/22/14        Aaa        709,649   
  845     

Federal Farm Credit Banks, Consolidated Systemwide Notes

    1.500     11/16/15        Aaa        861,665   

 

  70       Nuveen Investments


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

U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)

       
$ 360     

Federal Farm Credit Banks, Consolidated Systemwide Notes

    1.750     4/01/21        Aaa      $ 345,282   
  1,080     

Federal Home Loan Bank Bonds

    4.125     3/13/20        Aaa        1,193,091   
  775     

Federal Home Loan Bank Bonds

    1.875     12/09/22        Aaa        711,191   
  735     

Federal Home Loan Banks, Discount Notes

    2.220     3/28/23        Aaa        689,432   
  1,700     

Federal National Mortgage Association

    1.875     10/15/15        Aaa        1,740,760   
  435     

Federal National Mortgage Association

    0.000     10/09/19        AA–        374,477   
  710     

FICO STRIPS (I/O)

    0.000     5/02/17        Aaa        686,809   
  250     

Financing Corporation

    9.400     2/08/18        Aaa        321,817   
  330     

Freddie Mac Notes

    0.500     6/06/16        Aaa        329,619   
  735     

Freddie Mac Notes

    0.850     7/29/16        Aaa        736,374   
  880     

Freddie Mac Reference Notes, (4)

    0.875     3/07/18        Aaa        861,944   
  270     

Freddie Mac Reference Notes

    5.000     12/14/18        Aa2        306,529   
  560     

Freddie Mac Reference Notes

    1.250     10/02/19        Aaa        536,372   
  590     

Freddie Mac Reference Notes, (4)

    2.375     1/13/22        Aaa        577,897   
  505     

Private Export Funding

    4.550     5/15/15        Aaa        529,365   
  345     

Private Export Funding

    2.125     7/15/16        Aaa        356,893   
  530     

Tennessee Valley Authority, Series A

    3.875     2/15/21        Aaa        571,251   
  640     

U.S. Treasury Bonds

    8.875     8/15/17        Aaa        805,150   
  500     

U.S. Treasury Bonds

    8.875     2/15/19        Aaa        670,039   
  325     

U.S. Treasury Bonds

    8.750     8/15/20        Aaa        454,695   
  1,000     

U.S. Treasury Notes

    2.250     1/31/15        Aaa        1,017,754   
  645     

U.S. Treasury Notes

    1.250     9/30/15        Aaa        654,801   
  2,000     

U.S. Treasury Notes

    2.125     12/31/15        Aaa        2,062,188   
  635     

U.S. Treasury Notes, (4)

    3.875     5/15/18        Aaa        698,202   
  320     

U.S. Treasury Notes

    3.125     5/15/19        Aaa        341,325   
  700     

U.S. Treasury Notes

    2.125     2/29/16        Aaa        723,106   
  2,290     

U.S. Treasury Notes, (4)

    0.750     1/15/17        Aaa        2,286,602   
  2,975     

U.S. Treasury Notes, (4)

    0.625     2/15/17        Aaa        2,956,174   
  660     

U.S. Treasury Notes

    2.250     11/30/17        Aaa        683,822   
  1,670     

U.S. Treasury Notes, (4)

    2.250     7/31/18        Aaa        1,722,709   
  780     

U.S. Treasury Notes, (4)

    1.500     8/31/18        Aaa        778,538   
  430     

U.S. Treasury Notes

    1.000     11/30/19        Aaa        407,526   
  2,060     

U.S. Treasury Notes

    2.000     11/30/20        Aaa        2,029,100   
  400     

U.S. Treasury Notes

    3.125     5/15/21        Aaa        421,312   
  1,585     

U.S. Treasury Notes, (4)

    2.000     11/15/21        Aaa        1,537,945   
  2,240     

U.S. Treasury Notes

    2.000     2/15/22        Aaa        2,165,800   
  1,980     

U.S. Treasury Notes, (4)

    1.750     5/15/23        Aaa        1,834,284   
  2,920     

U.S. Treasury Notes, (4)

    2.750     11/15/23        Aaa        2,933,230   
$ 41,690     

Total U.S. Government and Agency Obligations (cost $42,299,632)

                            42,197,036   

 

Nuveen Investments     71   


Nuveen Intermediate Government Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED
SECURITIES – 43.4%

  

     
$ 713     

321 Henderson Receivables LLC, Series 2010-1A

    5.560     7/15/59        Aaa      $ 810,568   
  623     

321 Henderson Receivables LLC, Series 2010-3A

    3.820     12/15/48        Aaa        653,560   
  500     

Barclays Dryrock Issuance Trust 2014-1

    0.510     12/16/19        AAA        500,290   
  750     

Capital One Multi-Asset Execution Trust 2007-A1

    0.205     11/15/19        AAA        745,074   
  563     

Centerpoint Energy Transition Bond Company LLC

    0.901     4/15/18        AAA        565,496   
  769     

CitiBank Credit Card Issuance Trust 2013-A10

    0.396     2/07/18        AAA        769,940   
  945     

Citigroup Commercial Mortgage Trust 2014-GC19

    1.199     3/12/47        Aaa        941,606   
  434     

Commercial Mortgage Pass-Through Certificates 2012-CR2 A1

    0.824     8/17/45        Aaa        432,700   
  330     

Commercial Mortgage Pass-Through Certificates Series 2012-CR4

    1.801     10/17/45        AAA        329,160   
  280     

DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates,
Series 2011-LC3A

    3.642     8/12/44        Aaa        294,482   
  1,000     

Discover Card Master Trust I 2011-A3

    0.365     3/15/17        AAA        1,000,279   
  556     

Entergy Arkansas Restoration Funding LLC, Senior Secured Storm Recovery Bonds,
Series 2010-A

    2.300     8/01/21        AAA        568,286   
  704     

Fannie Mae Mortgage Pool AB1959

    4.000     12/01/40        Aaa        731,963   
  644     

Fannie Mae Mortgage Pool AB9659

    3.000     6/01/43        Aaa        622,883   
  925     

Fannie Mae Mortgage Pool AD0486

    2.344     4/01/34        Aaa        985,811   
  220     

Fannie Mae Mortgage Pool AD0706

    2.298     3/01/38        Aaa        234,719   
  1,178     

Fannie Mae Mortgage Pool AE0949, (WI/DD)

    4.000     2/01/41        Aaa        1,224,922   
  1,226     

Fannie Mae Mortgage Pool AE0981, (WI/DD)

    3.500     3/01/41        Aaa        1,234,653   
  509     

Fannie Mae Mortgage Pool AE4876

    3.500     10/01/40        Aaa        512,563   
  1     

Fannie Mae Mortgage Pool 252799

    7.000     10/01/14        Aaa        1,435   
  184     

Fannie Mae Mortgage Pool 254169

    6.500     12/01/31        Aaa        200,756   
  115     

Fannie Mae Mortgage Pool 254179

    6.000     1/01/22        Aaa        128,052   
  119     

Fannie Mae Mortgage Pool 254344

    6.500     6/01/22        Aaa        133,660   
  119     

Fannie Mae Mortgage Pool 254373

    6.500     7/01/17        Aaa        125,548   
  107     

Fannie Mae Mortgage Pool 254414

    7.000     7/01/17        Aaa        112,753   
  179     

Fannie Mae Mortgage Pool 254720

    4.500     5/01/18        Aaa        189,681   
  1,775     

Fannie Mae Mortgage Pool 464158

    3.120     1/01/15        Aaa        1,787,144   
  865     

Fannie Mae Mortgage Pool 467749

    3.240     4/01/16        Aaa        898,086   
  45     

Fannie Mae Mortgage Pool 580516

    5.500     4/01/16        Aaa        48,297   
  103     

Fannie Mae Mortgage Pool 596680

    7.000     9/01/31        Aaa        114,482   
  324     

Fannie Mae Mortgage Pool 596712

    6.500     6/01/32        Aaa        355,395   
  67     

Fannie Mae Mortgage Pool 656269

    6.000     8/01/32        Aaa        74,779   
  48     

Fannie Mae Mortgage Pool 673010

    5.500     12/01/17        Aaa        51,148   
  116     

Fannie Mae Mortgage Pool 695765

    5.500     4/01/18        Aaa        124,703   
  243     

Fannie Mae Mortgage Pool 725793

    5.500     9/01/19        Aaa        260,453   
  364     

Fannie Mae Mortgage Pool 745101

    6.000     4/01/32        Aaa        401,094   
  443     

Fannie Mae Mortgage Pool 819652

    2.465     3/01/35        Aaa        466,286   

 

  72       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

     
$ 159     

Fannie Mae Mortgage Pool 848390

    1.914     12/01/35        Aaa      $ 166,914   
  218     

Fannie Mae Mortgage Pool 886034

    2.685     7/01/36        Aaa        234,364   
  137     

Fannie Mae Mortgage Pool 887017

    6.500     8/01/36        Aaa        153,405   
  306     

Fannie Mae Mortgage Pool 913187

    2.440     4/01/37        Aaa        325,047   
  614     

Fannie Mae Mortgage Pool 914224

    2.585     3/01/37        Aaa        647,514   
  308     

Fannie Mae Mortgage Pool 928519

    7.000     6/01/37        Aaa        325,515   
  175     

Fannie Mae Mortgage Pool 995949

    2.456     9/01/36        Aaa        186,226   
  527     

Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2013-M3 ASQ2

    1.083     2/25/16        Aaa        530,076   
  385     

Fannie Mae REMIC Pass-Through Certificates 2002-W1 2A

    6.616     2/25/42        Aaa        448,557   
  412     

Fannie Mae REMIC Pass-Through Certificates 2009-M1 A1

    3.400     7/25/19        Aaa        429,564   
  338     

Fannie Mae REMIC Pass-Through Certificates 2010-M4 A1

    2.520     6/25/20        Aaa        343,990   
  652     

FDIC Structures Sale Guaranteed Notes, Series 2010-S1

    3.250     4/25/38        Aaa        671,574   
  62     

FDIC Trust 2001-C1

    1.840     4/25/31        Aaa        62,461   
  130     

FDIC Trust 2012-C1

    0.841     5/25/35        Aaa        129,968   
  114     

Federal Home Loan Mortgage Corporation, REMIC 2629 BO

    3.250     3/15/18        Aaa        115,529   
  738     

Freddie Mac Gold Pool C09000

    3.500     6/01/42        Aaa        742,269   
  1,220     

Freddie Mac Gold Pool C09004, (WI/DD)

    3.500     7/01/42        Aaa        1,227,152   
  415     

Freddie Mac Gold Pool 1H1396

    2.375     5/01/37        Aaa        436,429   
  616     

Freddie Mac Gold Pool 780836

    2.343     9/01/33        Aaa        656,426   
  378     

Freddie Mac Gold Pool 848193

    2.515     3/01/36        Aaa        399,787   
  23     

Freddie Mac Mortgage Pool, Various C35768

    7.500     1/01/30        Aaa        24,770   
  2     

Freddie Mac Mortgage Pool, Various E00746

    7.000     9/01/14        Aaa        1,890   
  69     

Freddie Mac Mortgage Pool, Various G00876

    6.500     1/01/28        Aaa        76,893   
  162     

Freddie Mac Mortgage Pool, Various G01244

    6.500     3/01/31        Aaa        183,893   
  354     

Freddie Mac Multifamily Structured Pass-Through Certificates Series KF01

    0.504     4/25/19        Aaa        353,759   
  757     

Freddie Mac Multifamily Structured Pass-Through Certificates, Series K010 A1

    3.320     7/25/20        Aaa        798,043   
  799     

Freddie Mac Mulitfamily Structured Pass-Through Certificates, Series K701

    2.776     6/26/17        Aaa        824,196   
  863     

Freddie Mac Structured Pass-Through Certificates, Series K008

    2.746     12/25/19        Aaa        895,133   
  460     

Freddie Mac Structured Pass-Through Certificates, Series K-501

    1.655     11/25/16        Aaa        467,064   
  770     

Freddie Mac Structured Pass-Through Certificates, Series K-705

    2.303     9/25/18        Aaa        783,336   
  63     

Government National Mortgage Association Pool 3120

    6.500     8/20/31        Aaa        73,358   
  32     

Government National Mortgage Association Pool 347332

    7.500     12/15/22        Aaa        33,243   
  6     

Government National Mortgage Association Pool 455304

    7.000     9/15/27        Aaa        6,031   
  564     

Government National Mortgage Association Pool 4946

    4.500     2/20/41        Aaa        609,557   
  105     

Government National Mortgage Association Pool 570134

    7.500     12/15/31        Aaa        118,837   
  809     

Government National Mortgage Association Pool 633605

    6.000     9/15/34        Aaa        920,292   
  180     

Government National Mortgage Association Pool 780825

    6.500     7/15/28        Aaa        208,249   
  18     

GRMT Mortgage Loan Trust 2001-1A

    8.272     7/20/31        A3        17,861   

 

Nuveen Investments     73   


Nuveen Intermediate Government Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

  

     
$ 249     

Invitation Homes Trust 2013-SFR1

    1.400     12/17/30        Aaa      $ 248,927   
  688     

JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C2 A1

    2.749     11/15/43        AAA        707,650   
  787     

Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9

    0.825     5/17/46        Aaa        781,932   
  598     

National Credit Union Administration Guaranteed Structured Collateral Notes

    1.600     10/29/20        Aaa        601,790   
  560     

Origen Manufactured Housing Contract Trust Collateralized Notes Series 2005B

    5.990     1/15/37        A+        584,796   
  53     

Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1

    4.125     2/25/41        AAA        53,761   
  53     

U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2005-10B

    4.940     8/10/15        Aaa        55,099   
  115     

U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates Series 2005-P10A

    4.638     2/10/15        Aaa        117,985   
  478     

U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2008-10A

    5.902     2/01/18        Aaa        519,531   
  638     

U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2010-P10A

    4.108     3/10/20        Aaa        679,821   
  602     

United States Department of Veterans, Affairs, Guaranteed REMIC Pass-Through Certificates, Vendee Mortgage Trust, Series 2011-1

    3.750     2/15/35        Aaa        632,458   
$ 36,847     

Total Asset-Backed and Mortgage-Backed Securities (cost $37,131,851)

                            38,245,629   
 

Total Long-Term Investments (cost $82,920,371)

  

            83,924,452   
Shares     Description (1)   Coupon                   Value  
 

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 16.0%

  

 
 

Money Market Funds – 16.0%

       
  14,070,113     

Mount Vernon Securities Lending Trust Prime Portfolio, (6)

    0.182 % (5)                    $ 14,070,113   
 

Total Investments Purchased with Collateral from Securities Lending (cost $14,070,113)

  

            14,070,113   
Shares     Description (1)   Coupon                   Value  
 

SHORT-TERM INVESTMENTS – 11.2%

       
 

Money Market Funds – 11.2%

       
  9,848,770     

First American Treasury Obligations Fund, Class Z

    0.000 % (5)                    $ 9,848,770   
 

Total Short-Term Investments (cost $9,848,770)

                            9,848,770   
 

Total Investments (cost $106,839,254) – 122.5%

                            107,843,335   
 

Other Assets Less Liabilities – (22.5)%

                            (19,774,803
 

Net Assets – 100%

                          $ 88,068,532   

 

  74       Nuveen Investments


Investments in Derivatives as of March 31, 2014

Futures Contracts outstanding:

 

Description      Contract
Position
       Number of
Contracts
     Contract
Expiration
       Notional
Amount at
Value*
     Unrealized
Appreciation
(Depreciation)
 

U.S. Treasury 2-Year Note

       Short           (12      6/14         $ (2,634,750    $ (1,654

U.S. Treasury 5-Year Note

       Short           (46      6/14           (5,471,844      25,667   

U.S. Treasury 10-Year Note

       Long           14         6/14           1,729,000         (6,387

U.S. Treasury Long Bond

       Short           (16      6/14           (2,131,500      (14,331
                                      $ (8,509,094    $ 3,295   
* The aggregate Notional Amount at Value of long and short positions is $1,729,000 and $(10,238,094), respectively.

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

        Level 1        Level 2        Level 3        Total  
Long-Term Investments:                    

Corporate Bonds

     $         $ 392,070         $         $ 392,070   

Municipal Bonds

                 3,089,717                     3,089,717   

U.S. Government and Agency Obligations

                 42,197,036                     42,197,036   

Asset-Backed and Mortgage-Backed Securities

                 38,245,629                     38,245,629   
Investments Purchased with Collateral from Securities Lending        14,070,113                               14,070,113   
Short-Term Investments:                    

Money Market Funds

       9,848,770                               9,848,770   
Investments in Derivatives:                    

Futures Contracts*

       3,295                               3,295   
Total      $ 23,922,178         $ 83,924,452         $  —         $ 107,846,630   
* Represents net unrealized appreciation (depreciation).

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. 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 March 31, 2014, the cost of investments (excluding investments in derivatives) was $106,839,254.

 

Nuveen Investments     75   


Nuveen Intermediate Government Bond Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2014, were as follows:

 

Gross unrealized:           

Appreciation

     $ 1,519,737   

Depreciation

       (515,656
Net unrealized appreciation (depreciation) of investments      $ 1,004,081   

 

  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.

 

(2) 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.

 

(3) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.

 

(4) Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $13,791,123.

 

(5) The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

 

(6) The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund.

 

I/O Interest only security.

 

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

 

  76       Nuveen Investments


Nuveen Strategic Income Fund

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)                        Value  
 

LONG-TERM INVESTMENTS – 96.7%

       
 

COMMON STOCKS – 0.0%

       
 

Building Products – 0.0%

       
  50     

Dayton Superior, Class A, (2), (3)

        $ 2,839   
  55     

Dayton Superior, Class 1, (2), (3)

                            3,154   
 

Total Common Stocks (cost $20,079)

                            5,993   
Principal
Amount (000)
    Description (1)   Coupon     Maturity (5)     Ratings (4)     Value  
 

VARIABLE RATE SENIOR LOAN INTERESTS – 1.1% (6)

  

   
 

Auto Components – 0.2%

       
$ 1,000     

Cooper-Standard Automotive Inc., Term Loan B, (WI/DD)

    TBD        TBD        BB–      $ 1,003,800   
 

Hotels, Restaurants & Leisure – 0.1%

       
  998     

Rock Ohio Caesar LLC, Term Loan B

    5.000     3/29/19        BB–        976,303   
 

Independent Power & Renewable Electricity Producers – 0.2%

       
  65     

Empire Generating Company LLC, Term Loan C, (WI/DD)

    TBD        TBD        B+        65,434   
  935     

Empire Generating Company LLC, (WI/DD)

    TBD        TBD        B+        937,898   
  1,000     

Total Independent Power & Renewable Electricity Producers

                            1,003,332   
 

Oil, Gas & Consumable Fuels – 0.3%

       
  997     

Arch Coal Inc., Term Loan B

    6.250     5/16/18        BB–        985,317   
  1,000     

Samson Investment Company Second Lien Term Loan

    5.000     9/25/18        B1        1,010,376   
  1,997     

Total Oil, Gas & Consumable Fuels

                            1,995,693   
 

Professional Services – 0.1%

       
  1,000     

Sedgwick Claims Management Service Inc., Second Lien Term Loan, (WI/DD)

    TBD        TBD        CCC+        998,126   
 

Specialty Retail – 0.2%

       
  1,500     

The Men’s Warehouse Inc., (3), (WI/DD)

    TBD        TBD        Ba3        1,500,000   
$ 7,495     

Total Variable Rate Senior Loan Interests (cost $7,484,444)

                            7,477,254   
Shares     Description (1)   Coupon            Ratings (4)     Value  
 

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 4.0%

       
 

Banks – 1.9%

       
  20,600     

AgriBank FCB, (17)

    6.875       A–      $ 2,123,732   
  62,313     

Citigroup Inc.

    7.125       BB+        1,645,063   
  65,000     

Morgan Stanley

    7.125       BB+        1,724,450   
  118,392     

PNC Financial Services

    6.125       BBB        3,162,250   
  95,250     

Regions Financial Corporation

    6.375       BB        2,296,478   
  14,000     

Royal Bank of Scotland Group PLC

    5.750       BB        302,120   
  58,000     

Wells Fargo & Company, (7)

    5.850             BBB+        1,444,200   
 

Total Banks

                            12,698,293   

 

Nuveen Investments     77   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Shares     Description (1)   Coupon            Ratings (4)     Value  
 

Capital Markets – 0.6%

       
  73,000     

Goldman Sachs Group, Inc.

    5.500       BB+      $ 1,740,320   
  80,000     

State Street Corporation, (2)

    5.900             BBB+        2,071,200   
 

Total Capital Markets

                            3,811,520   
 

Consumer Finance – 0.3%

       
  83,000     

Discover Financial Services

    6.500             BB        2,035,990   
 

Diversified Financial Services – 0.1%

       
  28,000     

Citigroup Capital Trust XI

    6.000             BB+        703,080   
 

Insurance – 1.1%

       
  73,140     

Endurance Specialty Holdings Limited

    7.500       BBB–        1,914,074   
  100,000     

Hartford Financial Services Group Inc.

    7.875       BB+        2,962,000   
  100,000     

Reinsurance Group of America Inc., (7)

    6.200             BBB        2,649,000   
 

Total Insurance

                            7,525,074   
 

Total $25 Par (or similar) Retail Preferred (cost $25,586,155)

                            26,773,957   
Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

CORPORATE BONDS – 67.3%

       
 

Aerospace & Defense – 0.5%

       
$ 300     

Bombardier Inc., 144A

    6.000     10/15/22        BB–      $ 300,000   
  683     

Erickson Air-Crane Inc., 144A, (7)

    8.250     5/01/20        B1        717,150   
  2,140     

Exelis, Inc.

    5.550     10/01/21        BBB+        2,206,826   
  3,123     

Total Aerospace & Defense

                            3,223,976   
 

Airlines – 0.7%

       
  1,530     

Air Canada, 144A

    6.750     10/01/19        BB        1,648,575   
  1,637     

Delta Air Lines Pass-Through Certificates Series 2012-1A

    4.750     5/07/20        A        1,767,610   
  942     

Northwest Airlines Trust Pass-Through Certificates 2007-1

    7.027     11/01/19        A–        1,044,569   
  4,109     

Total Airlines

                            4,460,754   
 

Auto Components – 1.3%

       
  550     

Ahern Rentals Inc., 144A, (7)

    9.500     6/15/18        B        608,438   
  1,025     

Allison Transmission Inc., 144A, (7)

    7.125     5/15/19        B+        1,103,156   
  1,575     

American & Axle Manufacturing Inc., (7)

    6.625     10/15/22        B+        1,706,906   
  1,000     

Chassix Inc., 144A

    9.250     8/01/18        B–        1,075,000   
  1,250     

Gestamp Funding Luxembourg SA, 144A

    5.625     5/31/20        BB        1,296,875   
  1,150     

Stackpole International Intermediate Company, 144A

    7.750     10/15/21        B+        1,231,938   
  1,780     

TRW Automotive Inc., 144A

    4.450     12/01/23        BBB–        1,788,900   
  8,330     

Total Auto Components

                            8,811,213   
 

Automobiles – 0.6%

       
  1,400     

Chrysler GP/CG Company

    8.000     6/15/19        B1        1,533,000   
  1,000  EUR   

Fiat Finance & Trade SA

    7.000     3/23/17        BB–        1,525,755   

 

  78       Nuveen Investments


Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Automobiles (continued)

       
$ 1,240     

General Motors Financial Company Inc., (7)

    4.250     5/15/23        BB+      $ 1,224,500   
 

Total Automobiles

                            4,283,255   
 

Banks – 5.7%

       
  1,330     

Banco Bradesco S.A. Grand Cayman, 144A

    4.125     5/16/16        Baa1        1,389,850   
  2,000     

Bancolombia SA

    5.950     6/03/21        Baa2        2,135,000   
  10,750     

Bank of America Corporation

    4.000     4/01/24        A        10,737,344   
  1,000     

BBVA Bancomer SA Texas, 144A

    4.500     3/10/16        A2        1,057,500   
  1,760     

CIT Group Inc., (7)

    5.000     8/01/23        BB        1,799,600   
  4,620     

JPMorgan Chase & Company

    6.750     8/01/64        BBB        4,862,550   
  2,360     

HSBC Holdings PLC

    6.800     6/01/38        A+        2,899,815   
  1,465     

Rabobank Nederland

    3.875     2/08/22        Aa2        1,517,189   
  1,220     

Royal Bank of Scotland Group PLC

    6.100     6/10/23        BBB–        1,266,383   
  1,000 EUR   

Royal Bank of Scotland Group PLC

    5.500     11/29/49        BB        1,238,169   
  1,250     

Russian Agricultural Bank, 144A

    7.750     5/29/18        Baa3        1,337,488   
  1,335     

Santander UK PLC, 144A

    5.000     11/07/23        A–        1,373,444   
  2,485     

Societe Generale, 144A, (7)

    5.000     1/17/24        BBB+        2,476,372   
  1,425     

Sovereign Bank

    8.750     5/30/18        Baa2        1,699,313   
  1,960     

Standard Chartered PLC, 144A

    5.700     3/26/44        A+        1,941,576   
  1,140     

Wells Fargo & Company

    3.450     2/13/23        A+        1,106,468   
 

Total Banks

                            38,838,061   
 

Beverages – 0.2%

       
  1,250     

Andalou Efes Biracilik ve Malt Sanayii AS, 144A

    3.375     11/01/22        BBB–        1,036,875   
 

Building Products – 1.3%

       
  1,000     

Building Materials Holdings Corporation, 144A

    9.000     9/15/18        B–        1,102,500   
  1,000     

Griffon Corporation, 144A

    5.250     3/01/22        BB–        990,000   
  1,875     

Masco Corporation

    5.950     3/15/22        BBB–        2,034,375   
  2,000     

Odebrecht Offshore Drilling Finance Limited, 144A, (7)

    6.625     10/01/22        BBB        2,070,000   
  1,490     

Owens Corning Incorporated

    4.200     12/15/22        BBB–        1,477,666   
  1,000     

US Concrete Inc., 144A

    8.500     12/01/18        B        1,085,000   
  8,365     

Total Building Products

                            8,759,541   
 

Capital Markets – 3.1%

       
  905     

E Trade Financial Corporation

    6.375     11/15/19        B2        984,188   
  4,425     

Goldman Sachs Group, Inc.

    6.000     6/15/20        A        5,081,267   
  1,890     

Goldman Sachs Group, Inc.

    5.250     7/27/21        A        2,092,211   
  3,500     

Goldman Sachs Group, Inc.

    4.000     3/03/24        A        3,484,485   
  1,050     

Lazard Group LLC

    4.250     11/14/20        BBB+        1,087,844   
  2,640     

Morgan Stanley Dean Witter & Company

    4.875     11/01/22        BBB+        2,774,070   
  5,880     

Morgan Stanley, (7)

    3.750     2/25/23        A        5,842,727   
  20,290     

Total Capital Markets

                            21,346,792   

 

Nuveen Investments     79   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Chemicals – 2.9%

       
$ 1,625     

Braskem Finance Limited, 144A

    5.750     4/15/21        BBB–      $ 1,622,969   
  2,000     

CF Industries Inc., (7)

    5.150     3/15/34        Baa2        2,056,404   
  1,250     

Eagle Spinco Inc., 144A

    4.625     2/15/21        BB        1,235,938   
  1,565     

Eastman Chemical Company

    3.600     8/15/22        BBB        1,553,288   
  1,000     

Hexion US Finance

    6.625     4/15/20        Ba3        1,035,000   
  1,915     

Incitec Pivot Finance, 144A

    6.000     12/10/19        BBB        2,114,957   
  750     

Ineos Group Holdings SA, 144A, (7)

    6.125     8/15/18        B–        778,125   
  1,700     

Mexichem SAB de CV, 144A

    4.875     9/19/22        BBB        1,700,000   
  1,250     

Momentive Performance Materials Inc.

    8.875     10/15/20        B3        1,356,250   
  2,095     

NOVA Chemicals Corporation, 144A

    5.250     8/01/23        BB+        2,241,650   
  1,315     

Petrologistics LP Finance Corporation, (7)

    6.250     4/01/20        B        1,318,288   
  1,305     

PolyOne Corporation, (7)

    5.250     3/15/23        BB        1,311,525   
  225     

Rhodia SA, 144A

    6.875     9/15/20        BBB+        246,931   
  1,130     

Tronox Finance LLC, (7)

    6.375     8/15/20        BB–        1,161,075   
  19,125     

Total Chemicals

                            19,732,400   
 

Commercial Services & Supplies – 1.4%

       
  730     

ABX Group Inc.

    6.375     12/01/19        Ba3        744,600   
  1,000     

ADT Corporation, 144A, (7)

    6.250     10/15/21        BBB–        1,027,500   
  1,000     

Casella Waste Systems Inc., (7)

    7.750     2/15/19        Caa1        1,037,500   
  1,450     

Clean Harbors Inc.

    5.250     8/01/20        BB+        1,493,500   
  1,220     

Covanta Energy Corporation, Synthetic Letter of Credit, (7)

    6.375     10/01/22        Ba3        1,296,250   
  1,025  EUR   

Europcar Groupe SA, 144A

    11.500     5/15/17        B–        1,645,095   
  500     

GDR Holding II Corporation, 144A

    10.750     6/01/19        B        550,000   
  635     

Iron Mountain Inc.

    5.750     8/15/24        B1        618,331   
  1,000     

R.R. Donnelley & Sons Company, (7)

    7.625     6/15/20        BB        1,150,000   
 

Total Commercial Services & Supplies

                            9,562,776   
 

Computers & Peripherals – 0.7%

       
  1,125     

NCR Corporation

    5.000     7/15/22        BB        1,126,406   
  1,725     

NCR Escrow Corporation, 144A

    6.375     12/15/23        BB        1,832,813   
  1,620     

Seagate HDD Cayman

    7.000     11/01/21        BBB–        1,812,375   
  4,470     

Total Computers & Peripherals

                            4,771,594   
 

Construction & Engineering – 0.2%

       
  1,100     

Odebrecht Finance Limited, 144A

    5.125     6/26/22        BBB        1,097,250   
 

Consumer Finance – 1.1%

       
  1,938     

Capital One Bank, (7)

    3.375     2/15/23        Baa1        1,885,777   
  1,715     

Discover Financial Services

    5.200     4/27/22        BBB        1,836,796   
  3,445     

Ford Motor Credit Company

    4.250     9/20/22        BBB–        3,550,121   
  7,098     

Total Consumer Finance

                            7,272,694   

 

  80       Nuveen Investments


Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Containers & Packaging – 0.8%

       
$ 1,500     

Ardagh Packaging Finance / MP HD USA, 144A

    6.250     1/31/19        CCC+      $ 1,567,500   
  915     

Ball Corporation

    4.000     11/15/23        BB+        855,525   
  950     

Reynolds Group, (7)

    7.125     4/15/19        B+        1,004,625   
  2,140     

Rock-Tenn Company

    4.900     3/01/22        BBB–        2,288,249   
  5,505     

Total Containers & Packaging

                            5,715,899   
 

Diversified Consumer Services – 0.8%

       
  1,500     

Caesars Entertainment Resort Properties LLC, 144A, (7)

    8.000     10/01/20        B+        1,578,750   
  1,000     

Gibson Brands Inc., 144A

    8.875     8/01/18        B2        1,065,000   
  1,000     

NES Rental Holdings Inc., 144A

    7.875     5/01/18        CCC+        1,070,000   
  1,500     

Office Depot de Mexico SA de CV, 144A

    6.875     9/20/20        BB+        1,561,875   
  5,000     

Total Diversified Consumer Services

                            5,275,625   
 

Diversified Financial Services – 3.3%

       
  5,000     

Citigroup Inc.

    3.875     10/25/23        A        4,964,615   
  1,835     

Citigroup Inc.

    6.125     8/25/36        A–        2,007,532   
  750     

CNG Holdings Inc., 144A

    9.375     5/15/20        B        686,250   
  2,545     

General Electric Capital Corporation

    6.875     1/10/39        AA+        3,351,615   
  1,000     

Jefferies Finance LLC Corporation, 144A

    7.375     4/01/20        B1        1,050,000   
  550     

Jefferies LoanCore LLC Finance Corporation, 144A

    6.875     6/01/20        B        558,250   
  4,515     

JPMorgan Chase & Company

    4.500     1/24/22        A+        4,867,540   
  680     

JPMorgan Chase & Company

    3.200     1/25/23        A+        659,376   
  1,605     

JPMorgan Chase & Company

    3.375     5/01/23        A        1,519,324   
  2,280     

JPMorgan Chase & Company

    6.400     5/15/38        A+        2,825,631   
  20,760     

Total Diversified Financial Services

                            22,490,133   
 

Diversified Telecommunication Services – 2.6%

  

   
  2,050     

AT&T, Inc.

    5.550     8/15/41        A        2,152,113   
  2,780     

Brasil Telecom SA, 144A

    5.750     2/10/22        BBB–        2,661,850   
  1,030     

CyrusOne LP Finance

    6.375     11/15/22        B+        1,086,650   
  1,610     

Frontier Communications Corporation, (7)

    8.500     4/15/20        Ba2        1,871,625   
  2,360     

Qwest Corporation, (7)

    6.750     12/01/21        BBB–        2,635,185   
  4,885     

Verizon Communications

    5.150     9/15/23        A–        5,345,748   
  700     

Verizon Communications

    6.550     9/15/43        A–        851,855   
  1,375     

Windstream Corporation

    6.375     8/01/23        BB        1,340,625   
  16,790     

Total Diversified Telecommunication Services

                            17,945,651   
 

Electric Utilities – 1.8%

       
  2,030     

APT Pipelines Limited, 144A

    3.875     10/11/22        BBB        1,954,305   
  2,485     

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

    4.875     5/26/21        BBB+        2,590,613   
  3,145     

Exelon Generation Co. LLC

    4.250     6/15/22        BBB+        3,189,587   
  500     

FirstEnergy Corporation

    4.250     3/15/23        Baa3        484,970   

 

Nuveen Investments     81   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Electric Utilities (continued)

       
$ 600     

Intergen NV, 144A

    7.000     6/30/23        B+      $ 630,000   
  1,295     

MidAmerican Energy Holdings Company

    6.125     4/01/36        A3        1,549,084   
  2,000     

Origin Energy Finance Limited, 144A

    3.500     10/09/18        BBB        2,035,878   
  12,055     

Total Electric Utilities

                            12,434,437   
 

Energy Equipment & Services – 1.4%

       
  1,985     

Diamond Offshore Drilling Inc.

    5.700     10/15/39        A        2,170,135   
  325     

Ensco PLC

    4.700     3/15/21        BBB+        349,194   
  910     

Gulfmark Offshore Inc.

    6.375     3/15/22        BB–        941,850   
  1,400     

Parker Drilling Company

    7.500     8/01/20        B+        1,491,000   
  1,000     

Transocean Inc., (7)

    6.375     12/15/21        BBB–        1,123,954   
  2,100     

Transocean Inc., (7)

    3.800     10/15/22        BBB–        2,007,617   
  1,385     

Weatherford International Limited

    7.000     3/15/38        Baa2        1,633,614   
  9,105     

Total Energy Equipment & Services

                            9,717,364   
 

Food & Staples Retailing – 0.1%

       
  800     

Coca-Cola Icecek AS, 144A, (7)

    4.750     10/01/18        BBB        826,000   
 

Food Products – 0.9%

       
  1,785     

Aramark Corporation

    5.750     3/15/20        BB–        1,885,404   
  1,105     

JBS USA LLC, 144A

    7.250     6/01/21        BB        1,176,825   
  750     

Marfrig Holding Europe BV, 144A

    9.875     7/24/17        B        782,813   
  700     

Mriya Agro Holding PLC, 144A

    9.450     4/19/18        CCC        591,500   
  1,360     

Pinnacle Foods Finance LLC, (7)

    4.875     5/01/21        B–        1,329,400   
  5,700     

Total Food Products

                            5,765,942   
 

Gas Utilities – 0.2%

       
  1,084     

AmeriGas Finance LLC, (7)

    6.750     5/20/20        Ba2        1,173,430   
  454     

Suburban Propane Partners LP, 144A, (7)

    7.500     10/01/18        BB–        482,375   
  1,538     

Total Gas Utilities

                            1,655,805   
 

Health Care Equipment & Supplies – 0.1%

       
  250  EUR   

Labco SAS, Reg S

    8.500     1/15/18        BB–        367,180   
 

Health Care Providers & Services – 0.3%

       
  944     

HCA Holdings Inc.

    7.750     5/15/21        B–        1,040,760   
  1,000     

Tenet Healthcare Corporation, (7)

    4.375     10/01/21        BB        965,000   
  1,944     

Total Health Care Providers & Services

                            2,005,760   
 

Hotels, Restaurants & Leisure – 0.4%

       
  1,000     

Caesars Operating Escrow

    9.000     2/15/20        B–        897,500   
  775     

Shearer’s Foods LLC, 144A

    9.000     11/01/19        B        846,688   
  1,200     

Wynn Macau Limited, 144A

    5.250     10/15/21        BB        1,221,000   
  2,975     

Total Hotels, Restaurants & Leisure

                            2,965,188   

 

  82       Nuveen Investments


Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Independent Power & Renewable Electricity Producers – 0.7%

       
$ 2,010     

Constellation Energy Group

    5.150     12/01/20        BBB+      $ 2,195,266   
  1,175     

Dynegy Holdings, Inc., 144A

    5.875     6/01/23        B+        1,154,438   
  1,300     

Genon Energy Inc.

    9.500     10/15/18        B        1,329,250   
  4,485     

Total Independent Power & Renewable Electricity Producers

                            4,678,954   
 

Industrial Conglomerates – 0.3%

       
  1,000     

Alfa SAB de CV, 144A, (7)

    5.250     3/25/24        BBB–        1,025,000   
  1,000     

Stena AB, 144A, (7)

    7.000     2/01/24        BB        1,017,500   
  2,000     

Total Industrial Conglomerates

                            2,042,500   
 

Insurance – 2.2%

       
  2,475     

AFLAC Insurance

    6.450     8/15/40        A–        3,062,209   
  3,255     

Genworth Holdings Inc.

    4.800     2/15/24        BBB–        3,386,076   
  1,370     

Liberty Mutual Group Inc., 144A

    4.950     5/01/22        Baa2        1,466,423   
  1,498     

Lincoln National Corporation

    4.200     3/15/22        A–        1,569,735   
  2,840     

Pacific LifeCorp., 144A

    6.000     2/10/20        BBB+        3,239,835   
  1,830     

UnumProvident Corporation

    5.625     9/15/20        BBB        2,059,330   
  13,268     

Total Insurance

                            14,783,608   
 

IT Services – 0.6%

       
  2,395     

Computer Sciences Corporation

    4.450     9/15/22        BBB+        2,444,972   
  710     

First Data Corporation, 144A

    6.750     11/01/20        BB–        763,250   
  575     

Zayo Escrow Corporation, (7)

    8.125     1/01/20        B1        631,063   
  3,680     

Total IT Services

                            3,839,285   
 

Machinery – 0.8%

       
  1,180     

Blueline Rental Finance Corporation, 144A

    7.000     2/01/19        B        1,247,850   
  1,000     

CTP Transportation Products LLC-Finance Inc., 144A

    8.250     12/15/19        B+        1,077,500   
  1,000  EUR   

Loxam SAS, 144A

    7.375     1/24/20        B        1,508,535   
  1,640     

Terex Corporation

    6.000     5/15/21        BB        1,754,800   
 

Total Machinery

                            5,588,685   
 

Marine – 0.2%

       
  1,000     

Global Ship Lease Inc., 144A

    10.000     4/01/19        B3        1,032,500   
 

Media – 4.0%

       
  1,175     

Cequel Communication Holdings I, 144A

    5.125     12/15/21        B–        1,163,250   
  740     

Charter Communications, CCO Holdings LLC

    5.125     2/15/23        BB–        712,250   
  1,000     

Clear Channel Communications, Inc.

    11.250     3/01/21        CCC+        1,112,500   
  1,790     

Comcast Corporation

    6.400     5/15/38        A–        2,200,576   
  5,335     

DIRECTV Holdings LLC

    3.800     3/15/22        BBB        5,279,191   
  1,610     

Dish DBS Corporation

    4.250     4/01/18        BB–        1,680,438   
  2,175     

Gannett Company Inc., 144A

    5.125     7/15/20        Ba1        2,234,813   
  1,000     

McGraw-Hill Global Education Holdings, 144A, (7)

    9.750     4/01/21        BB        1,135,000   

 

Nuveen Investments     83   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Media (continued)

       
$ 2,750     

News America Holdings Inc.

    6.650     11/15/37        BBB+      $ 3,358,842   
  1,500     

SES SA, 144A, (7)

    3.600     4/04/23        BBB        1,453,815   
  600     

Sinclair Television Group, (7)

    6.375     11/01/21        B1        624,000   
  1,150     

Sirius XM Radio Inc., 144A, (7)

    5.750     8/01/21        BB        1,196,000   
  2,306     

Viacom Inc.

    4.375     3/15/43        BBB+        2,049,303   
  1,000  CAD   

Videotron Limited, 144A

    5.625     6/15/25        BB        886,477   
  550     

WideOpenWest Finance Capital Corporation

    13.375     10/15/19        CCC+        644,875   
  1,100     

WMG Acquisition Group, 144A, (7)

    6.000     1/15/21        B+        1,146,750   
 

Total Media

                            26,878,080   
 

Metals & Mining – 5.4%

       
  3,055     

Alcoa Inc., (7)

    5.400     4/15/21        BBB–        3,205,181   
  1,500     

Allegheny Technologies Inc.

    5.875     8/15/23        BBB–        1,568,942   
  2,690     

Anglogold Holdings PLC

    6.500     4/15/40        Baa3        2,341,161   
  4,305     

ArcelorMittal, (7)

    6.750     2/25/22        BB+        4,724,738   
  750     

Century Aluminum Company, 144A, (7)

    7.500     6/01/21        B        755,625   
  2,795     

Cliffs Natural Resources Inc., (7)

    4.800     10/01/20        BBB–        2,744,360   
  1,000     

Coeur d’Alene Mines Corporation, Convertible Bond

    7.875     2/01/21        B+        1,005,000   
  1,000     

Commercial Metals Inc.

    4.875     5/15/23        BB+        960,000   
  1,000     

Eldorado Gold Corporation, 144A, (7)

    6.125     12/15/20        BB        1,000,000   
  718     

First Quantum Minerals Limited, 144A

    6.750     2/15/20        BB        726,975   
  718     

First Quantum Minerals Limited, 144A, (7)

    7.000     2/15/21        BB        730,565   
  1,000     

FMG Resources, 144A, (7)

    8.250     11/01/19        BB+        1,100,000   
  1,165     

Freeport McMoRan Copper & Gold, Inc., (7)

    3.550     3/01/22        BBB        1,112,597   
  1,300     

Imperial Metals Corporation, 144A

    7.000     3/15/19        B–        1,326,000   
  500     

Magnetation LLC Finance Corporation, 144A

    11.000     5/15/18        B–        558,750   
  2,610     

Newmont Mining Corporation, (7)

    3.500     3/15/22        Baa1        2,367,810   
  1,775     

Teck Resources Limited

    6.125     10/01/35        BBB        1,826,340   
  1,140     

Teck Resources Limited

    6.250     7/15/41        BBB        1,176,961   
  750     

TMK OAO via TMK Capital SA, 144A, (7)

    6.750     4/03/20        B+        658,125   
  2,410     

Vale Overseas Limited

    6.875     11/10/39        A–        2,576,466   
  1,800     

Vedanta Resources PLC, 144A, (7)

    6.000     1/31/19        BB        1,800,000   
  1,115     

WPE International Cooperatief U.A, 144A

    10.375     9/30/20        B+        671,788   
  1,765     

Xstrata Finance Canada Limited, 144A

    6.900     11/15/37        BBB        1,955,444   
  36,861     

Total Metals & Mining

                            36,892,828   
 

Multiline Retail – 0.3%

       
  1,840     

Macys Retail Holdings Inc., (7)

    3.875     1/15/22        BBB+        1,897,099   
 

Oil, Gas & Consumable Fuels – 9.0%

       
  740     

Amerada Hess Corporation

    7.125     3/15/33        BBB        930,470   
  2,170     

Anadarko Petroleum Corporation, (7)

    6.200     3/15/40        BBB–        2,512,640   

 

  84       Nuveen Investments


Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Oil, Gas & Consumable Fuels (continued)

       
$ 1,570  CAD   

Athabasca Oil Corporation, 144A

    7.500     11/19/17        B      $ 1,405,970   
  1,435     

Atlas Pipeline LP Finance

    5.875     8/01/23        B+        1,417,063   
  1,145     

Bill Barrett Corporation, (7)

    7.000     10/15/22        B1        1,205,113   
  1,500     

Breitburn Energy Partners LP

    7.875     4/15/22        B–        1,623,750   
  1,250     

Calumet Specialty Products

    7.625     1/15/22        B+        1,325,000   
  1,700     

Canadian Oil Sands Trust, 144A

    7.750     5/15/19        BBB        2,063,972   
  1,120     

Cenovus Energy Inc., (7)

    3.800     9/15/23        BBB+        1,116,073   
  870     

Concho Resources Inc., (7)

    5.500     10/01/22        BB+        906,975   
  1,000     

CONSOL Energy Inc.

    8.250     4/01/20        BB        1,086,250   
  2,120     

Continental Resources Inc., (7)

    5.000     9/15/22        BBB–        2,226,000   
  450     

Deep Drilling 7 & 8 PT

    14.250     3/05/15        N/R        484,875   
  1,250     

Diamondback Energy Inc., 144A

    7.625     10/01/21        B–        1,350,000   
  195     

Enbridge Energy Partners LP

    5.200     3/15/20        BBB        212,866   
  750     

Everest Acquisition LLC Finance, 144A, (7)

    7.750     9/01/22        B        841,875   
  1,000     

Gibson Energy, 144A

    6.750     7/15/21        BB        1,072,500   
  1,100     

Hercules Offshore LLC, 144A, (7)

    7.500     10/01/21        B        1,111,000   
  1,345     

Key Energy Services Inc., (7)

    6.750     3/01/21        BB–        1,413,931   
  600     

Kinder Morgan Energy Partners LP

    6.950     1/15/38        BBB        718,553   
  825     

Kodiak Oil and Gas Corporation

    5.500     2/01/22        B        844,594   
  1,185     

Linn Energy LLC Finance Corporation, 144A, (7)

    6.250     11/01/19        B+        1,235,363   
  2,215     

Lukoil International Finance, 144A

    6.125     11/09/20        BBB        2,292,525   
  1,290     

Martin Mid-Stream Partners LP Finance

    7.250     2/15/21        B–        1,352,888   
  1,000     

MEG Energy Corporation, 144A

    7.000     3/31/24        BB        1,057,500   
  975     

Murphy Oil USA Inc., 144A

    6.000     8/15/23        BB        1,006,688   
  1,835     

Nabors Industries Inc., (7)

    4.625     9/15/21        BBB        1,895,750   
  750     

Newfield Exploration Company

    5.625     7/01/24        BBB–        778,125   
  550     

Niska Gas Storage Canada ULC Finance Corporation, 144A, (7)

    6.500     4/01/19        B        541,750   
  1,250     

Northern Blizzard Resources Inc., 144A

    7.250     2/01/22        B–        1,287,500   
  1,150     

Oasis Petroleum Inc., 144A

    6.875     3/15/22        B+        1,244,875   
  975     

Offshore Group Investment Limited, (7)

    7.500     11/01/19        B–        1,038,375   
  1,130  CAD   

Paramount Resources Limited, 144A

    7.625     12/04/19        B        1,073,270   
  825     

PBF Holding Company LLC

    8.250     2/15/20        BB+        895,125   
  1,250     

Pertamina PT, 144A

    4.875     5/03/22        Baa3        1,201,563   
  1,275     

Petro Canada

    6.800     5/15/38        BBB+        1,614,176   
  1,000     

PetroBakken Energy Limited, 144A

    8.625     2/01/20        B–        1,000,000   
  1,770     

Petrobras International Finance Company

    6.875     1/20/40        Baa1        1,744,319   
  740     

Range Resources Corporation

    5.000     8/15/22        BB        754,800   
  1,750     

Sabine Pass Liquefaction LLC

    5.625     2/01/21        BB+        1,804,688   
  1,125     

Sandridge Energy Inc., (7)

    8.125     10/15/22        B2        1,226,250   

 

Nuveen Investments     85   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Oil, Gas & Consumable Fuels (continued)

       
$ 1,000     

Seadrill Limited, 144A, (7)

    6.125     9/15/20        N/R      $ 1,025,000   
  6,000  NOK   

Ship Finance International Limited

    6.610     10/19/17        N/R        1,037,109   
  1,845     

Sinopec Group Overseas Development 2012, 144A, (7)

    3.900     5/17/22        Aa3        1,817,856   
  925     

SM Energy Company

    6.625     2/15/19        BB–        989,750   
  1,445     

Southwestern Energy Company, (7)

    4.100     3/15/22        BBB–        1,485,035   
  1,520     

Targa Resources Inc., 144A, (7)

    4.250     11/15/23        BB        1,409,800   
  1,900     

Thai Oil PCL, 144A

    3.625     1/23/23        Baa1        1,765,134   
  1,000     

Western Refining Inc., (7)

    6.250     4/01/21        B+        1,035,000   
 

Total Oil, Gas & Consumable Fuels

                            61,479,684   
 

Paper & Forest Products – 1.3%

       
  3,100     

Domtar Corporation

    6.750     2/15/44        BBB–        3,443,842   
  1,860     

International Paper Company

    8.700     6/15/38        BBB        2,687,937   
  1,750     

Resolute Forest Products, 144A

    5.875     5/15/23        BB–        1,706,250   
  1,000     

Verso Paper Holdings LLC

    11.750     1/15/19        Ba3        1,077,500   
  7,710     

Total Paper & Forest Products

                            8,915,529   
 

Personal Products – 0.2%

       
  1,500     

Albea Beauty Holdings SA, 144A, (7)

    8.375     11/01/19        B+        1,627,500   
 

Pharmaceuticals – 0.5%

       
  1,150     

AbbVie Inc.

    2.900     11/06/22        A        1,107,083   
  1,000     

Endo Pharmaceutical Holdings Inc.

    7.000     12/15/20        B1        1,077,500   
  1,080     

VP Escrow Corporation, 144A

    6.375     10/15/20        B1        1,166,400   
  3,230     

Total Pharmaceuticals

                            3,350,983   
 

Real Estate Investment Trust – 2.8%

       
  3,070     

American Tower Company

    5.000     2/15/24        BBB        3,197,415   
  1,795     

ARC Property Operating Partnership LP, Clark Acquisition LLC, 144A

    4.600     2/06/24        BBB–        1,794,280   
  3,500     

Digital Realty Trust Inc.

    3.625     10/01/22        BBB        3,249,572   
  1,820     

HCP Inc.

    3.750     2/01/19        BBB+        1,917,709   
  750     

KWG Property Holdings Limited

    13.250     3/22/17        B+        828,750   
  2,060     

Omega Healthcare Investors Inc., 144A

    4.950     4/01/24        BBB–        2,016,272   
  2,080     

Piedmont Operating Partnership LP

    4.450     3/15/24        BBB        2,075,871   
  1,420     

Plum Creek Timberlands LP

    4.700     3/15/21        BBB        1,492,224   
  2,125     

Prologis Inc.

    6.875     3/15/20        BBB+        2,509,604   
  18,620     

Total Real Estate Investment Trust

                            19,081,697   
 

Real Estate Management & Development – 0.9%

  

   
  1,000     

Agile Property Holdings Limited, 144A

    8.875     4/28/17        Ba2        1,016,250   
  1,100     

Country Garden Holding Company, 144A, (7)

    11.125     2/23/18        Ba2        1,189,375   
  500     

Crescent Resources LLC, 144A

    10.250     8/15/17        B–        561,250   
  800     

Gemdale International Investment Limited

    7.125     11/16/17        BB–        797,000   

 

  86       Nuveen Investments


Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Real Estate Management & Development (continued)

       
$ 1,100     

Kaisa Group Holdings Limited, 144A, (7)

    8.875     3/19/18        B+      $ 1,060,125   
  1,375     

Mattamy Group Corporation, 144A, (7)

    6.500     11/15/20        BB        1,392,188   
  250     

Shimao Property Holdings Limited

    11.000     3/08/18        BB+        273,438   
  6,125     

Total Real Estate Management & Development

                            6,289,626   
 

Road & Rail – 0.5%

       
  1,000     

Hertz Corporation

    7.375     1/15/21        B        1,100,000   
  700     

Hertz Corporation, (7)

    6.250     10/15/22        B        749,000   
  1,000     

Jack Cooper Holdings Corporation, 144A

    9.250     6/01/20        B2        1,090,000   
  750     

Watco Companies LLC Finance, 144A

    6.375     4/01/23        B3        761,250   
  3,450     

Total Road & Rail

                            3,700,250   
 

Semiconductors & Equipment – 0.3%

       
  1,250     

Micron Technology, Inc., 144A, (7)

    5.875     2/15/22        BB–        1,309,375   
  1,000     

NXP BV, 144A

    5.750     3/15/23        BB–        1,050,000   
  2,250     

Total Semiconductors & Equipment

                            2,359,375   
 

Software – 0.2%

       
  1,000     

BMC Software Finance Inc., 144A, (7)

    8.125     7/15/21        B–        1,052,500   
 

Specialty Retail – 0.9%

       
  1,150     

Best Buy Co., Inc.

    5.000     8/01/18        Baa2        1,191,688   
  1,410     

Guitar Center Inc., 144A, (WI/DD)

    6.500     4/15/19        B–        1,401,188   
  1,000     

Neiman Marcus Mariposa Borrower / Merger Sub LLC, 144A

    8.000     10/15/21        CCC+        1,098,750   
  2,220     

O’Reilly Automotive Inc.

    4.875     1/14/21        BBB        2,377,478   
  5,780     

Total Specialty Retail

                            6,069,104   
 

Textiles, Apparel & Luxury Goods – 0.2%

       
  1,220     

Jones Group

    6.875     3/15/19        B+        1,256,600   
 

Tobacco – 1.1%

       
  1,006     

Altria Group Inc.

    9.950     11/10/38        BBB+        1,614,108   
  2,800     

Imperial Tobacco Finance, 144A

    3.500     2/11/23        BBB        2,685,368   
  1,670     

Lorillard Tobacco, (7)

    6.875     5/01/20        Baa2        1,953,052   
  1,265     

Reynolds American Inc.

    3.250     11/01/22        Baa2        1,190,113   
  6,741     

Total Tobacco

                            7,442,641   
 

Trading Companies & Distributors – 0.3%

       
  1,995     

Air Lease Corporation

    3.875     4/01/21        BBB–        1,995,000   
 

Transportation Infrastructure – 0.6%

       
  4,025     

Asciano Finance, 144A

    5.000     4/07/18        Baa2        4,322,117   
 

Wireless Telecommunication Services – 1.6%

       
  550     

Comcel Trust, 144A

    6.875     2/06/24        Ba1        575,438   
  1,250     

Digicel Group, Limited, 144A, (7)

    8.250     9/30/20        B–        1,334,375   

 

Nuveen Investments     87   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Wireless Telecommunication Services (continued)

       
$ 1,500     

Eileme AB, 144A

    11.625     1/31/20        B      $ 1,786,875   
  750     

FairPoint Communications Inc., 144A

    8.750     8/15/19        B        802,500   
  1,000     

Frontier Communications Corporation

    7.625     4/15/24        Ba2        1,045,000   
  800     

Millicom International Cellular SA, 144A

    6.625     10/15/21        BB+        846,000   
  1,000     

Softbank Corporation, 144A, (7)

    4.500     4/15/20        BB+        995,000   
  1,000     

Sprint Corporation, 144A

    7.250     9/15/21        BB–        1,090,000   
  965     

Sprint Nextel Corporation, (7)

    7.000     3/01/20        BB+        1,112,163   
  1,050     

Wind Acquisition Finance SA, 144A

    7.250     2/15/18        BB        1,105,125   
  9,865     

Total Wireless Telecommunication Services

                            10,692,476   
 

Total Corporate Bonds (cost $439,580,094)

                            457,630,786   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

CONVERTIBLE BONDS – 0.2%

       
 

Banks – 0.2%

       
$ 1,400     

Lloyds Banking Group LBG Capital 1, 144A

    8.000     N/A (9)        BBB–      $ 1,502,900   
$ 1,400     

Total Convertible Bonds (cost $1,464,791)

                            1,502,900   
Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 6.3%

       
 

Banks – 2.4%

       
  2,830  EUR   

Barclays Bank PLC

    4.750     N/A (9)        BBB–      $ 3,474,779   
$ 1,500     

Barclays PLC, (7)

    8.250     N/A (9)        BB+        1,575,000   
  1,525     

Fifth Third Bancorp.

    5.100     N/A (9)        BBB–        1,403,000   
  1,170     

Rabobank Nederland, 144A

    11.000     N/A (9)        A–        1,553,175   
  1,000     

RBS Capital Trust I

    2.098     N/A (9)        BB        970,000   
  1,500     

RBS Capital Trust IV

    1.047     N/A (9)        BB        1,443,750   
  500     

Societe Generale, 144A

    0.993     N/A (9)        BBB–        460,000   
  5,585     

Wachovia Capital Trust III

    5.570     N/A (9)        BBB+        5,368,580   
 

Total Banks

                            16,248,284   
 

Capital Markets – 0.7%

       
  1,100  EUR   

Baggot Securities Limited, 144A

    10.240     N/A (9)        N/R        1,649,917   
  1,500     

Dresdner Funding Trust, 144A, (7)

    8.151     6/30/31        BB        1,702,500   
  1,495     

Goldman Sachs Capital II

    4.000     N/A (9)        BB+        1,151,150   
 

Total Capital Markets

                            4,503,567   
 

Diversified Financial Services – 1.3%

       
  2,000     

Citigroup Inc.

    8.400     N/A (9)        BB+        2,302,500   
  1,000     

Credit Suisse Group AG, 144A, (7)

    7.500     N/A (9)        BB+        1,086,250   
  5,000     

General Electric Capital Corporation

    7.125     N/A (9)        AA–        5,700,000   
  8,000     

Total Diversified Financial Services

                            9,088,750   

 

  88       Nuveen Investments


Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

Electric Utilities – 0.3%

       
$ 1,570     

Electricite de France, 144A

    5.250     N/A (9)        A3      $ 1,572,355   
  700     

AES Gener SA, 144A

    8.375     12/18/73        Ba2        742,000   
  2,270     

Total Electric Utilities

                            2,314,355   
 

Industrial Conglomerates – 0.1%

       
  1,000     

OAS Financial Limited, 144A

    8.875     N/A (9)        BB–        940,000   
 

Insurance – 1.5%

       
  1,500     

Allstate Corporation

    5.750     8/15/53        Baa1        1,575,000   
  2,050     

Catlin Insurance Company Limited, 144A

    7.249     N/A (9)        BBB+        2,116,625   
  1,250     

Genworth Financial Inc.

    6.150     11/15/66        Ba1        1,154,688   
  1,620     

Lincoln National Corporation

    6.050     4/20/67        BBB        1,609,875   
  1,435     

Prudential Financial Inc., (7)

    5.200     3/15/44        BBB+        1,424,238   
  1,860     

ZFS Finance USA Trust V, 144A

    6.500     5/09/37        A        1,994,850   
  9,715     

Total Insurance

                            9,875,276   
 

Total $1,000 Par (or similar) Institutional Preferred (cost $40,384,621)

                            42,970,232   
Principal
Amount (000)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 8.5%

       
$ 1,432     

321 Henderson Receivables LLC, Series 2010-3A

    3.820     12/15/48        Aaa      $ 1,502,818   
  2,270     

AmeriCold LLC Trust, Series 2010

    6.811     1/14/29        A+        2,579,006   
  3,304     

Master RePerforming Loan Trust 2005-1

    7.500     8/25/34        Ba3        3,412,790   
  2,967     

Banc of America Alternative Loan Trust, Pass-Through Certificates, Series 2006-6

    6.000     7/25/46        Caa3        2,358,452   
  49     

Bank of America Alternative Loan Trust, Series 2005-5 2 CB1

    6.000     6/25/35        Caa1        44,512   
  350     

Bank of America Commercial Mortgage Inc., Commercial Mortgage
Pass-Through Certificates, Series 2005-4

    4.933     7/10/45        AAA        365,043   
  1,699     

Bayview Opportunity Master Fund Trust, 2013-8NPL

    3.228     3/28/33        N/R        1,698,737   
  1,000     

CAM Mortgage Trust 2013-1

    5.500     12/15/53        N/R        996,563   
  706     

Countrywide ABS Asset-Backed Certificate Trust 2007-9

    0.284     6/25/47        B–        698,305   
  390     

Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-24CB

    5.000     11/25/19        B3        391,873   
  729     

Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-19CB

    6.000     8/25/36        Caa3        637,875   
  2,622     

Countrywide Asset Backed Certificates, Series 2007-4 A2

    5.530     3/25/29        Caa1        2,385,691   
  1,175     

Countrywide Home Loans, Asset Backed Certificates Series 2007-7

    0.314     10/25/47        AAA        1,151,722   
  496     

Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-2

    2.500     2/25/34        A        477,866   
  1,781     

Countrywide Home Loans Mortgage, Series 2005-27

    5.500     1/25/23        Caa1        1,672,273   
  221     

Credit Suisse First Boston Mortgage Securities Corporation, Mortgage-Backed Pass-Through Certificates, Series 2003-23

    5.750     9/25/33        AA+        236,390   
  777     

Fannie Mae Mortgage Interest STRIPS 366 25 (I/O)

    5.000     9/01/24        Aaa        71,033   

 

Nuveen Investments     89   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

       
$ 466     

Fannie Mae Mortgage Pool AA0005

    5.500     11/01/38        Aaa      $ 513,773   
  524     

Fannie Mae Mortgage Pool AA0889

    5.500     12/01/38        Aaa        577,987   
  3,106     

Fannie Mae Mortgage Pool AC1877

    4.500     9/01/39        Aaa        3,314,262   
  525     

Fannie Mae Mortgage Pool AL1187

    5.500     7/01/24        Aaa        558,327   
  5,567     

Fannie Mae Mortgage Pool AL3617

    3.500     9/01/27        Aaa        5,839,504   
  478     

Fannie Mae Mortgage Pool 255628

    5.500     2/01/25        Aaa        526,918   
  1,741     

Fannie Mae Mortgage Pool 255956

    5.500     10/01/25        Aaa        1,936,491   
  242     

Fannie Mae Mortgage Pool 256890

    6.000     9/01/37        Aaa        261,796   
  209     

Fannie Mae Mortgage Pool 725205

    5.000     3/01/34        Aaa        229,247   
  91     

Fannie Mae Mortgage Pool 725553

    2.172     9/01/33        Aaa        95,982   
  302     

Fannie Mae Mortgage Pool 725773

    5.500     9/01/34        Aaa        335,450   
  117     

Fannie Mae Mortgage Pool 735060

    6.000     11/01/34        Aaa        131,059   
  78     

Fannie Mae Mortgage Pool 735606

    1.805     5/01/35        Aaa        80,713   
  111     

Fannie Mae Mortgage Pool 745101

    6.000     4/01/32        Aaa        122,158   
  306     

Fannie Mae Mortgage Pool 745324

    6.000     3/01/34        Aaa        339,062   
  403     

Fannie Mae Mortgage Pool 745548

    2.290     1/01/35        Aaa        431,649   
  89     

Fannie Mae Mortgage Pool 824163

    5.500     4/01/35        Aaa        98,620   
  245     

Fannie Mae Mortgage Pool 831377

    6.500     4/01/36        Aaa        279,439   
  98     

Fannie Mae Mortgage Pool 838948

    1.885     8/01/35        Aaa        104,818   
  273     

Fannie Mae Mortgage Pool 843435

    5.500     6/01/33        Aaa        302,653   
  111     

Fannie Mae Mortgage Pool 852909

    6.500     4/01/36        Aaa        126,301   
   (10)   

Fannie Mae Mortgage Pool 889618

    5.500     5/01/38        Aaa        359   
  299     

Fannie Mae Mortgage Pool 893318

    6.500     8/01/36        Aaa        340,303   
  35     

Fannie Mae Mortgage Pool 905597

    5.885     12/01/36        Aaa        38,023   
  759     

Fannie Mae Mortgage Pool 932323

    4.500     12/01/39        Aaa        809,613   
  204     

Fannie Mae Mortgage Pool 944340

    6.000     6/01/37        Aaa        226,834   
  95     

Fannie Mae Mortgage Pool 946228

    6.057     9/01/37        Aaa        103,054   
   (10)   

Fannie Mae Mortgage Pool 985344

    5.500     7/01/38        Aaa        192   
  1,208     

FDIC Structures Sale Guaranteed Notes, Series 2010-S1

    0.703     2/25/48        Aaa        1,208,795   
  16     

Federal Home Loan Mortgage Corporation, Mortgage Pool 1B3220

    2.422     1/01/37        Aaa        16,966   
  20     

Federal Home Loan Mortgage Corporation, Series 2376

    5.500     11/15/16        Aaa        20,637   
  497     

Freddie Mac Gold Pool 1L0117

    2.655     10/01/29        Aaa        514,569   
  921     

Freddie Mac Gold Pool 1K1238

    2.375     7/01/36        Aaa        977,451   
  303     

Freddie Mac Gold Pool 847240

    2.287     7/01/30        Aaa        320,897   
  192     

Freddie Mac Gold Pool 847411

    2.190     5/01/33        Aaa        200,900   
  1,856     

Freddie Mac Gold Pool 848289

    2.361     5/01/38        Aaa        1,977,105   
  548     

Freddie Mac Mortgage Pool, Various A17212

    6.500     7/01/31        Aaa        623,528   
  115     

Freddie Mac Mortgage Pool, Various H09059

    7.000     8/01/37        Aaa        124,026   

 

  90       Nuveen Investments


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

ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)

       
$ 1,405     

Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series 2013-K712

    3.368     5/25/45        A–      $ 1,386,624   
  23     

Freddie Mac Non Gold Participation Certificates 847681

    2.422     12/01/36        Aaa        24,504   
  74     

Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2006-GG6

    5.506     4/10/38        AAA        74,300   
  187     

Government National Mortgage Association, Guaranteed REMIC Pass-Through Securities and MX Securities Trust

    4.500     5/16/38        Aaa        197,939   
  55     

GRMT Mortgage Loan Trust 2001-1A

    8.272     7/20/31        A3        53,584   
  1,720     

Impac Secured Assets Corporation, Mortgage Pass-Through Certificates, Series 2000-3

    8.000     10/25/30        CCC        1,606,654   
  339     

IndyMac INDX Mortgage Loan Trust, Pass-Through Certificates, Series 2005-AR1

    2.459     3/25/35        BBB+        338,538   
  1,214     

JPMorgan Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2007-S1

    0.434     6/25/37        CCC        1,055,129   
  941     

Lehman Mortgage Trust, Mortgage Pass-Through Certificates, Series 2008-6

    5.466     4/25/38        BB+        967,036   
  230     

Merrill Lynch Mortgage Investors Inc, Commercial Mortgage Pass-Through Certificates, Series 2006

    5.204     12/12/49        A1        250,551   
  1,000     

ML_CFC Commercial Mortgage Trust, Pass Through Certificates, Series 2007-8

    5.894     8/12/49        BB        1,021,849   
  508     

National Credit Union Administration Guaranteed Structured Collateral Notes

    2.900     10/29/20        Aaa        526,644   
  780     

Oaktree Real Estate Investments, Commercial Mortgage Asset Backed Securities ORES NPL LLC 2013-LV2I, 144A

    3.081     9/25/25        N/R        780,332   
  819     

RBSSP Resecuritization Trust, Series 2012-8 1A1

    0.316     10/28/36        N/R        781,440   
  164     

Residential Accredit Loans Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2005-QS12

    5.500     8/25/35        Caa2        144,690   
  355     

Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1

    4.125     2/25/41        AAA        362,150   
  677     

Stanwich Mortgage Loan Trust, Series 2012-NPL5

    2.981     10/16/42        N/R        677,411   
  2,099     

Structured Agency Credit Risk Debt Notes, 2013-DN2

    4.404     11/25/23        N/R        2,179,572   
  562     

Wachovia Mortgage Loan Trust LLC, Mortgage Pass-Through Certificates, Series 2005-B

    2.622     10/20/35        D        466,992   
  396     

Washington Mutual Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2004-RA3

    6.491     8/25/38        AA        419,131   
  28     

Wells Fargo Mortgage Backed Securities, 2005-AR16 Class 3A2

    2.617     10/25/35        BBB–        28,133   
$ 57,694     

Total Asset-Backed and Mortgage-Backed Securities (cost $56,305,462)

                            57,733,613   
Shares     Description (1), (11)                        Value  
 

INVESTMENT COMPANIES – 0.4%

       
  36,000     

Blackrock Credit Allocation Income Trust IV

        $ 486,720   
  66,000     

Blackrock MuniAssets Fund Inc.

          813,120   
  40,000     

CBRE Clarion Global Real Estate Income Fund

          334,000   
  75,000     

Invesco Municipal Income Opportunities Trust

          495,000   
  23,000     

NexPoint Credit Strategies Fund

          254,610   
  20,000     

Pimco Income Strategy Fund

          234,600   
  16,000     

Pioneer Diversified High Income Trust

                            323,200   
 

Total Investment Companies (cost $2,658,932)

                            2,941,250   

 

Nuveen Investments     91   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Principal
Amount (000) (8)
    Description (1)   Coupon     Maturity     Ratings (4)     Value  
 

SOVEREIGN DEBT – 8.9%

       
 

Bermuda – 0.5%

       
$ 2,840     

Bermuda Government, 144A

    5.603     7/20/20        AA–      $ 3,126,840   
 

Brazil – 1.5%

       
  27,900  BRL   

Letra De Tesouro Nacional de Brazil

    0.000     1/01/16        BBB+        10,052,693   
 

Indonesia – 0.6%

       
  2,830     

Republic of Indonesia, 144A

    5.875     3/13/20        Baa3        3,091,775   
  1,290     

Republic of Indonesia, 144A, (7)

    4.875     5/05/21        Baa3        1,322,250   
  4,120     

Total Indonesia

                            4,414,025   
 

Mexico – 3.2%

       
  1,330  MXN   

Mexico Bonos de DeSarrollo

    8.500     12/13/18        A        11,624,285   
  503  MXN   

Mexico Bonos de DeSarrollo

    8.000     12/07/23        A        4,355,879   
  698  MXN   

Mexico Bonos de DeSarrollo

    7.750     11/13/42        A        5,720,627   
  2,531  MXN   

Total Mexico

                            21,700,791   
 

Portugal – 0.3%

       
  1,500  EUR   

Portugal Obrigacoes do Tesouro, 144A

    4.750     6/14/19        BB        2,241,062   
 

South Africa – 0.8%

       
  3,250     

Republic of South Africa

    5.875     9/16/25        Baa1        3,493,750   
  18,500  ZAR   

Republic of South Africa

    10.500     12/21/26        A–        2,037,390   
 

Total South Africa

                            5,531,140   
 

Trinidad and Tobago – 0.2%

       
  1,000     

Republic of Trinidad and Tobago, 144A

    4.375     1/16/24        A        1,046,000   
 

Turkey – 1.8%

       
  5,500  TRY   

Republic of Turkey, Government Bond

    10.500     1/15/20        BBB        2,619,293   
  11,100  TRY   

Republic of Turkey, Government Bond

    7.100     3/08/23        BBB        4,279,806   
  5,400     

Republic of Turkey, Government Bond, (7)

    3.250     3/23/23        Baa3        4,722,300   
  550     

Republic of Turkey, Government Bond

    4.875     4/16/43        Baa3        467,500   
 

Total Turkey

                            12,088,899   
 

Total Sovereign Debt (cost $65,869,323)

                            60,201,450   
 

Total Long-Term Investments (cost $639,353,901)

                            657,237,435   
Shares     Description (1)   Coupon                   Value  
 

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 15.0%

  

   
 

Money Market Funds – 15.0%

       
  101,942,407     

Mount Vernon Securities Lending Trust Prime Portfolio, (13)

    0.182% (12)                      $ 101,942,407   
 

Total Investments Purchased with Collateral from Securities Lending (cost $101,942,407)

  

            101,942,407   

 

  92       Nuveen Investments


Shares     Description (1)   Coupon               Value  
 

SHORT-TERM INVESTMENTS – 2.5%

       
 

Money Market Funds – 2.5%

       
  17,294,433     

First American Treasury Obligations Fund, Class Z

    0.000 % (12)            $ 17,294,433   
 

Total Short-Term Investments (cost $17,294,433)

                    17,294,433   
 

Total Investments (cost $758,590,741) – 114.2%

                    776,474,275   
 

Other Assets Less Liabilities – (14.2)% (14)

                    (96,466,762
 

Net Assets – 100%

                  $ 680,007,513   

Investments in Derivatives as of March 31, 2014

Forward Foreign Currency Exchange Contracts outstanding:

 

Counterparty      Currency Contracts to Deliver      Amount
(Local Currency)
     In Exchange
For Currency
     Amount
(Local Currency)
       Settlement
Date
      

Unrealized

Appreciation

(Depreciation)
(U.S. Dollars) (14)

 
Bank of America      Brazilian Real        10,600,000       U.S. Dollar        4,553,323           4/02/14         $ (115,311
Bank of America      Malaysian Ringgit        19,600,000       U.S. Dollar        5,960,164           4/07/14           (38,902
Bank of America      U.S. Dollar        4,684,048       Brazilian Real        10,600,000           4/02/14           (15,414
Bank of America      U.S. Dollar        5,886,239       Malaysian Ringgit        19,600,000           4/07/14           112,827   
BNP Paribas      Japanese Yen        994,000,000       U.S. Dollar        9,752,642           4/14/14           121,508   
BNP Paribas      U.S. Dollar        8,155,260       Japanese Yen        840,000,000           4/14/14           (16,274
BNP Paribas      U.S. Dollar        1,496,208       Japanese Yen        154,000,000           4/14/14           (4,060
Citigroup      Canadian Dollar        3,595,000       U.S. Dollar        3,264,620           4/14/14           13,731   
Citigroup      Euro        14,699,423       U.S. Dollar        20,021,173           4/14/14           (228,877
Citigroup      Euro        920,000       U.S. Dollar        1,280,401           4/14/14           13,001   
Citigroup      Japanese Yen        665,000,000       U.S. Dollar        6,501,315           4/28/14           57,464   
Citigroup      Norwegian Krone        5,800,000       U.S. Dollar        943,667           4/11/14           (24,559
Citigroup      U.S. Dollar        1,332,155       Euro        960,000           4/14/14           (9,650
Citigroup      U.S. Dollar        6,462,346       Japanese Yen        665,000,000           4/28/14           (18,496
Citigroup      U.S. Dollar        6,434,120       Australian Dollar        7,000,000           5/23/14           33,875   
Credit Suisse      Pound Sterling        3,800,000       U.S. Dollar        6,342,113           4/10/14           7,439   
Credit Suisse      Pound Sterling        3,800,000       U.S. Dollar        6,316,322           4/10/14           (18,352
Credit Suisse      U.S. Dollar        12,401,604       Pound Sterling        7,600,000           4/10/14           267,743   
Deutsche Bank      Turkish Lira        14,700,000       U.S. Dollar        6,517,113           4/14/14           (322,935
Deutsche Bank      U.S. Dollar        6,954,825       Turkish Lira        15,400,000           4/14/14           210,939   
Deutsche Bank      U.S. Dollar        128,667       Turkish Lira        288,000           4/14/14           5,342   
Goldman Sachs      Canadian Dollar        14,600,000       U.S. Dollar        13,138,299           5/09/14           (56,257
Goldman Sachs      U.S. Dollar        6,186,150       New Zealand Dollar        7,500,000           4/11/14           317,105   
JPMorgan      Euro        5,000,000       U.S. Dollar        6,794,785           4/11/14           (93,301
JPMorgan      U.S. Dollar        2,034,481       Mexican Peso        27,200,000           4/14/14           46,682   
JPMorgan      U.S. Dollar        6,093,606       South African Rand        68,000,000           4/14/14           351,508   
Nomura Securities      Brazilian Real        15,400,000       U.S. Dollar        6,805,126           4/02/14           22,394   
Nomura Securities      Brazilian Real        12,000,000       U.S. Dollar        5,247,049           4/02/14           (38,197
Nomura Securities      Brazilian Real        7,200,000       U.S. Dollar        3,181,617           4/02/14           10,470   
Nomura Securities      Brazilian Real        7,200,000       U.S. Dollar        3,148,229           5/05/14           3,953   
Nomura Securities      U.S. Dollar        6,499,810       Brazilian Real        15,400,000           4/02/14           282,922   
Nomura Securities      U.S. Dollar        5,302,696       Brazilian Real        12,000,000           4/02/14           (17,450
Nomura Securities      U.S. Dollar        3,173,204       Brazilian Real        7,200,000           4/02/14           (2,056
                                                    $ 858,812   

Credit Default Swaps outstanding:

 

Clearing
House
     Referenced Entity        Buy/Sell
Protection (15)
       Current
Credit
Spread (16)
     Notional
Amount
       Fixed
Rate
(Annualized)
     Termination
Date
       Value      Unrealized
Appreciation
(Depreciation)
 

Citigroup

       Markit CDX NA HY21 Index           Buy           3.11    $ 29,500,000           5.000      12/20/18         $ (2,395,332    $ (278,681

 

Nuveen Investments     93   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (Unaudited)

 

Interest Rate Swaps outstanding:

 

Counterparty    Notional
Amount
     Fund
Pay/
Receive
Floating
Rate
     Floating
Rate
Index
     Fixed
Rate
(Annualized)
     Fixed
Rate
Payment
Frequency
     Termination
Date
     Value      Unrealized
Appreciation
(Depreciation) (14)
 

Bank of
America*

   $ 19,000,000         Receive         3-Month
USD-LIBOR-
BBA
        1.573      Semi-Annually         10/10/18       $ (72,463    $ (72,903

Deutsche
Bank AG

     33,000,000         Receive         3-Month
USD-LIBOR-
BBA
        1.741         Semi-Annually         11/08/22         2,172,963         2,172,963   

JPMorgan

     21,000,000         Receive         3-Month
USD-LIBOR-
BBA
        2.113         Semi-Annually         2/21/22         558,245         558,245   

JPMorgan

     10,800,000         Receive         3-Month
USD-LIBOR-
BBA
        2.078         Semi-Annually         2/19/23         523,238         523,238   

JPMorgan*

     17,000,000         Receive         3-Month
USD-LIBOR-
BBA
        2.739         Semi-Annually         11/21/23         (74,900      (75,416
     $ 100,800,000                                                    $ 3,107,083       $ 3,106,127   
* Citigroup is the clearing house for this transaction.

Futures Contracts outstanding:

 

Description      Contract
Position
       Number of
Contracts
     Contract
Expiration
       Notional
Amount at
Value*
     Unrealized
Appreciation
(Depreciation)
 

90-Day Eurodollar

       Short           (100      3/16         $ (24,637,500    $ 72,204   

90-Day Eurodollar

       Short           (207      6/16           (50,841,787      78,860   

Euro-Bund

       Long           50         6/14           9,876,424         (16,988

U.S. Treasury 5-Year Note

       Short           (520      6/14           (61,855,625      255,406   

U.S. Treasury 10-Year Note

       Short           (108      6/14           (13,338,000      18,869   

U.S. Treasury Long Bond

       Long           20         6/14           2,664,375         21,203   
                                      $ (138,132,113    $ 429,554   
* The aggregate Notional Amount at Value of long and short positions is $12,540,799 and $(150,672,912), respectively.

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

        Level 1        Level 2        Level 3        Total  
Long-Term Investments:                    

Common Stocks

     $         $         $ 5,993         $ 5,993   

Variable Rate Senior Loan Interests

                 5,977,254           1,500,000           7,477,254   

$25 Par (or similar) Retail Preferred

       24,650,225           2,123,732                     26,773,957   

Corporate Bonds

                 457,630,786                     457,630,786   

Convertible Bonds

                 1,502,900                     1,502,900   

$1,000 Par (or similar) Institutional Preferred

                 42,970,232                     42,970,232   

Asset-Backed and Mortgage-Backed Securities

                 57,733,613                     57,733,613   

Investment Companies

       2,941,250                               2,941,250   

Sovereign Debt

                 60,201,450                     60,201,450   
Investments Purchased with Collateral from Securities Lending        101,942,407                               101,942,407   

 

  94       Nuveen Investments


        Level 1        Level 2        Level 3        Total  
Short-Term Investments:                    

Money Market Funds

     $ 17,294,433         $         $         $ 17,294,433   
Investments in Derivatives:                    

Forward Foreign Currency Exchange Contracts*

                 858,812                     858,812   

Credit Default Swaps*

                 (278,681                  (278,681

Interest Rate Swaps*

                 3,106,127                     3,106,127   

Futures Contracts*

       429,554                               429,554   
Total      $ 147,257,869         $ 631,826,225         $ 1,505,993         $ 780,590,087   
* Represents net unrealized appreciation (depreciation).

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. 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 March 31, 2014, the cost of investments (excluding investments in derivatives) was $758,600,727.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2014, were as follows:

 

Gross unrealized:           

Appreciation

     $ 29,257,699   

Depreciation

       (11,384,151
Net unrealized appreciation (depreciation) of investments      $ 17,873,548   

 

Nuveen Investments     95   


Nuveen Strategic Income Fund (continued)

Portfolio of Investments March 31, 2014 (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 shown in the Portfolio of Investments are based on net assets.

 

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

 

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

 

(4) 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.

 

(5) 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.

 

(6) 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.

 

(7) Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $99,269,966.

 

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

 

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

 

(10) Principal Amount (000) rounds to less than $1,000.

 

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

 

(12) The rate shown is the annualized seven-day effective yield as of the end of the reporting period.

 

(13) The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund.

 

(14) Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of certain derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.

 

(15) The Fund entered into the credit default swaps to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning the referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.

 

(16) The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher likelihood of performance by the seller of protection.

 

(17) For fair value measurement disclosure purposes, $25 Par (or similar) Retail Preferred categorized as Level 2.

 

I/O Interest only.

 

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.

 

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

 

TBD To be announced. Maturity date is not applicable.

 

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

 

BRL Brazilian Real

 

CAD Canadian Dollar

 

EUR Euro

 

MXN Mexican Peso

 

NOK Norwegian Krone

 

TRY Turkish Lira

 

ZAR South African Rand

 

USD-LIBOR-BBA United States Dollar-London Inter-Bank Offered Rate British Bankers’ Association.

 

  96       Nuveen Investments


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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

  (b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See Ex-99. CERT attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Nuveen Investment Funds, Inc.

 

 

 

By (Signature and Title)

   /s/ Kevin J. McCarthy
   Kevin J. McCarthy
   Vice President and Secretary

Date: May 30, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

By (Signature and Title)

   /s/ Gifford R. Zimmerman
   Gifford R. Zimmerman
  

Chief Administrative Officer

(principal executive officer)

Date: May 30, 2014

 

 

By (Signature and Title)

   /s/ Stephen D. Foy
   Stephen D. Foy
  

Vice President and Controller

(principal financial officer)

Date: May 30, 2014