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 811-21579
Nuveen Floating Rate Income Opportunity Fund
(Exact name of registrant as specified in charter)
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Gifford R. Zimmerman—Vice President and Secretary
333 West Wacker Drive, Chicago, Illinois 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: 312-917-7700
Date of fiscal year end: July 31
Date of reporting period: October 31, 2018
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
| JRO | Nuveen Floating Rate Income
Portfolio of Investments October 31, 2018 | |
| (Unaudited) |
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| LONG-TERM INVESTMENTS – 155.7% (97.8% of Total Investments) |
| |||||||||||||||||||||||||||
| VARIABLE RATE SENIOR LOAN INTERESTS – 131.1% (82.3% of Total Investments) (2) |
| |||||||||||||||||||||||||||
| Aerospace & Defense – 2.7% (1.7% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 415 | Rexnord LLC/ RBS Global, Inc., Term Loan, First Lien |
4.295% | 1-Month LIBOR | 2.000% | 8/21/24 | BB+ | $ | 415,680 | |||||||||||||||||||
| 5,694 | Sequa Corporation, Term Loan B |
7.408% | 3-Month LIBOR | 5.000% | 11/28/21 | B | 5,633,877 | |||||||||||||||||||||
| 1,985 | Sequa Corporation, Term Loan, Second Lien |
11.520% | 3-Month LIBOR | 9.000% | 4/28/22 | Caa2 | 1,953,199 | |||||||||||||||||||||
| 733 | Transdigm, Inc., Term Loan F |
4.802% | 1-Month LIBOR | 2.500% | 6/09/23 | Ba2 | 730,913 | |||||||||||||||||||||
| 398 | Transdigm, Inc., Term Loan G, First Lien |
4.802% | 1-Month LIBOR | 2.500% | 8/22/24 | Ba2 | 396,643 | |||||||||||||||||||||
| 3,300 | Transdigm, Inc., Term Loan E |
4.802% | 1-Month LIBOR | 2.500% | 5/30/25 | Ba2 | 3,288,867 | |||||||||||||||||||||
| 12,525 | Total Aerospace & Defense |
12,419,179 | ||||||||||||||||||||||||||
| Air Freight & Logistics – 0.8% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| 1,250 | Ceva Group PLC, Term Loan, First Lien |
6.136% | 3-Month LIBOR | 3.750% | 8/04/25 | BB– | 1,253,913 | |||||||||||||||||||||
| 1,101 | PAE Holding Corporation, Term Loan B |
7.886% | 3-Month LIBOR | 5.500% | 10/20/22 | B+ | 1,106,913 | |||||||||||||||||||||
| 1,444 | XPO Logistics, Inc., Term Loan B |
4.509% | 3-Month LIBOR | 2.000% | 2/24/25 | BBB– | 1,449,162 | |||||||||||||||||||||
| 3,795 | Total Air Freight & Logistics |
3,809,988 | ||||||||||||||||||||||||||
| Airlines – 2.0% (1.3% of Total Investments) | ||||||||||||||||||||||||||||
| 2,704 | American Airlines, Inc., Replacement Term Loan |
4.277% | 1-Month LIBOR | 2.000% | 10/10/21 | BB+ | 2,703,890 | |||||||||||||||||||||
| 2,394 | American Airlines, Inc., Term Loan 2025 |
4.045% | 1-Month LIBOR | 1.750% | 6/27/25 | BB+ | 2,347,720 | |||||||||||||||||||||
| 4,223 | American Airlines, Inc., Term Loan B, (DD1) |
4.280% | 1-Month LIBOR | 2.000% | 12/14/23 | BB+ | 4,201,396 | |||||||||||||||||||||
| 9,321 | Total Airlines |
9,253,006 | ||||||||||||||||||||||||||
| Auto Components – 0.8% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| 1,130 | DexKo Global, Inc., Term Loan B |
5.802% | 1-Month LIBOR | 3.500% | 7/24/24 | B1 | 1,134,312 | |||||||||||||||||||||
| 925 | Horizon Global Corporation, Term Loan B |
8.302% | 1-Month LIBOR | 6.000% | 6/30/21 | B2 | 898,499 | |||||||||||||||||||||
| 1,481 | Superior Industries International, Inc., Term Loan B |
6.302% | 1-Month LIBOR | 4.000% | 5/22/24 | B1 | 1,477,008 | |||||||||||||||||||||
| 3,536 | Total Auto Components |
3,509,819 | ||||||||||||||||||||||||||
| Automobiles – 1.2% (0.8% of Total Investments) | ||||||||||||||||||||||||||||
| 4,588 | Chrysler Group LLC, Term Loan |
4.300% | 1-Month LIBOR | 2.000% | 12/31/18 | Baa2 | 4,597,657 | |||||||||||||||||||||
| 993 | Navistar, Inc., Tranche B, Term Loan |
5.780% | 1-Month LIBOR | 3.500% | 11/06/24 | Ba3 | 995,805 | |||||||||||||||||||||
| 5,581 | Total Automobiles |
5,593,462 | ||||||||||||||||||||||||||
| Beverages – 0.6% (0.4% of Total Investments) | ||||||||||||||||||||||||||||
| 2,878 | Jacobs Douwe Egberts, Term Loan B |
4.625% | 3-Month LIBOR | 2.250% | 10/23/25 | BB | 2,882,587 | |||||||||||||||||||||
| Biotechnology – 0.9% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| 3,940 | Grifols, Inc., Term Loan B |
4.467% | 1-Week LIBOR | 2.250% | 1/31/25 | BB+ | 3,948,057 | |||||||||||||||||||||
| Building Products – 1.7% (1.0% of Total Investments) | ||||||||||||||||||||||||||||
| 769 | Fairmount, Initial Term Loan |
6.136% | 3-Month LIBOR | 3.750% | 6/01/25 | BB | 648,031 | |||||||||||||||||||||
| 651 | Ply Gem Industries, Inc., Term Loan B |
6.175% | 3-Month LIBOR | 3.750% | 4/12/25 | B+ | 649,259 | |||||||||||||||||||||
| 6,322 | Quikrete Holdings, Inc., Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 11/15/23 | BB– | 6,306,008 | |||||||||||||||||||||
| 7,742 | Total Building Products |
7,603,298 | ||||||||||||||||||||||||||
| Capital Markets – 2.3% (1.5% of Total Investments) | ||||||||||||||||||||||||||||
| 2,000 | Distributed Power, Term Loan B, (WI/DD) |
TBD | TBD | TBD | TBD | B | 2,005,000 | |||||||||||||||||||||
| 2,013 | Capital Automotive LP, Term Loan, First Lien |
4.810% | 1-Month LIBOR | 2.500% | 3/25/24 | B1 | 2,016,085 | |||||||||||||||||||||
| 2,321 | Capital Automotive LP, Term Loan, Second Lien |
8.302% | 1-Month LIBOR | 6.000% | 3/24/25 | B3 | 2,364,626 | |||||||||||||||||||||
| 4,200 | RPI Finance Trust, Term Loan B6 |
4.386% | 3-Month LIBOR | 2.000% | 3/27/23 | BBB– | 4,208,852 | |||||||||||||||||||||
| 10,534 | Total Capital Markets |
10,594,563 | ||||||||||||||||||||||||||
1
| JRO | Nuveen Floating Rate Income Opportunity Fund (continued) | |
| Portfolio of Investments October 31, 2018 | ||
| (Unaudited) |
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| Chemicals – 0.8% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 890 | Ineos US Finance LLC, Term Loan |
4.302% | 1-Month LIBOR | 2.000% | 4/01/24 | BBB– | $ | 890,097 | |||||||||||||||||||
| 1,521 | Mineral Technologies, Inc., Term Loan B2 |
4.750% | N/A | N/A | 5/07/21 | BB+ | 1,527,078 | |||||||||||||||||||||
| 450 | SI Group, Term Loan B |
7.186% | 3-Month LIBOR | 4.750% | 10/15/25 | BB– | 448,594 | |||||||||||||||||||||
| 571 | Univar, Inc., Term Loan B |
4.552% | 1-Month LIBOR | 2.250% | 7/01/24 | BB | 571,781 | |||||||||||||||||||||
| 3,432 | Total Chemicals |
3,437,550 | ||||||||||||||||||||||||||
| Commercial Services & Supplies – 5.9% (3.7% of Total Investments) | ||||||||||||||||||||||||||||
| 701 | ADS Waste Holdings, Inc., Term Loan B |
4.460% | 1-Week LIBOR | 2.250% | 11/10/23 | BB+ | 701,662 | |||||||||||||||||||||
| 1,463 | Universal Services of America, Initial Term Loan, First Lien |
6.136% | 3-Month LIBOR | 3.750% | 7/28/22 | BB | 1,452,906 | |||||||||||||||||||||
| 1,750 | Universal Services of America, Term Loan, Second Lien |
10.794% | 2-Month LIBOR | 8.500% | 7/28/23 | CCC+ | 1,739,063 | |||||||||||||||||||||
| 1,991 | Brand Energy & Infrastructure Services, Inc., Term Loan B, First Lien |
6.732% | 3-Month LIBOR | 4.250% | 6/16/24 | B | 2,002,897 | |||||||||||||||||||||
| 496 | Education Management LLC, Tranche B, Term Loan, (5) |
0.000% | N/A | N/A | 7/02/20 | N/R | 18,590 | |||||||||||||||||||||
| 220 | Education Management LLC, Tranche A, Term Loan, (5) |
0.000% | N/A | N/A | 7/02/20 | N/R | 15,412 | |||||||||||||||||||||
| 5,496 | Formula One Group, Term Loan B |
4.802% | 1-Month LIBOR | 2.500% | 2/01/24 | B+ | 5,445,366 | |||||||||||||||||||||
| 888 | Fort Dearborn Holding Company, Inc., Term Loan, First Lien |
6.407% | 2-Month LIBOR | 4.000% | 10/19/23 | B– | 845,361 | |||||||||||||||||||||
| 1,000 | Fort Dearborn Holding Company, Inc., Term Loan, Second Lien |
10.908% | 3-Month LIBOR | 8.500% | 10/07/24 | CCC | 918,335 | |||||||||||||||||||||
| 1,583 | Getty Images, Inc., Term Loan B, First Lien |
5.802% | 1-Month LIBOR | 3.500% | 10/18/19 | B3 | 1,568,109 | |||||||||||||||||||||
| 1,750 | GFL Environmental, Term Loan, (WI/DD) |
TBD | TBD | TBD | TBD | B+ | 1,725,938 | |||||||||||||||||||||
| 3,108 | iQor US, Inc., Term Loan, First Lien |
7.400% | 3-Month LIBOR | 5.000% | 4/01/21 | Caa1 | 2,904,925 | |||||||||||||||||||||
| 333 | iQor US, Inc., Term Loan, Second Lien |
11.148% | 3-Month LIBOR | 8.750% | 4/01/22 | Caa3 | 265,417 | |||||||||||||||||||||
| 960 | KAR Auction Services, Inc., Term Loan B5 |
4.938% | 3-Month LIBOR | 2.500% | 3/09/23 | Ba2 | 962,671 | |||||||||||||||||||||
| 917 | LSC Communications, Refinancing Term Loan |
7.802% | 1-Month LIBOR | 5.500% | 9/30/22 | B1 | 922,396 | |||||||||||||||||||||
| 2,940 | Monitronics International, Inc., Term Loan B2, First Lien |
7.886% | 3-Month LIBOR | 5.500% | 9/30/22 | Caa1 | 2,887,639 | |||||||||||||||||||||
| 2,253 | Protection One, Inc., Term Loan |
5.052% | 1-Month LIBOR | 2.750% | 5/02/22 | BB– | 2,256,761 | |||||||||||||||||||||
| 256 | West Corporation, Incremental Term Loan B1 |
6.026% | 3-Month LIBOR | 3.500% | 10/10/24 | Ba3 | 253,439 | |||||||||||||||||||||
| 28,105 | Total Commercial Services & Supplies |
26,886,887 | ||||||||||||||||||||||||||
| Communications Equipment – 3.7% (2.3% of Total Investments) | ||||||||||||||||||||||||||||
| 4,566 | Avaya, Inc., Tranche B Term Loan |
6.530% | 1-Month LIBOR | 4.250% | 12/15/24 | BB– | 4,589,400 | |||||||||||||||||||||
| 1,403 | Mitel US Holdings, Inc., Incremental Term Loan |
6.052% | 1-Month LIBOR | 3.750% | 9/25/23 | B+ | 1,403,249 | |||||||||||||||||||||
| 1,400 | Mitel US Holdings, Inc., Term Loan, First Lien, (WI/DD) |
TBD | TBD | TBD | TBD | B | 1,411,550 | |||||||||||||||||||||
| 252 | MultiPlan, Inc., Term Loan B |
5.136% | 3-Month LIBOR | 2.750% | 6/07/23 | B+ | 252,035 | |||||||||||||||||||||
| 1,696 | Plantronics, Inc., Term Loan, B |
4.802% | 1-Month LIBOR | 2.500% | 7/02/25 | Ba1 | 1,693,533 | |||||||||||||||||||||
| 7,635 | Univision Communications, Inc., Term Loan C5 |
5.052% | 1-Month LIBOR | 2.750% | 3/15/24 | BB– | 7,345,357 | |||||||||||||||||||||
| 16,952 | Total Communications Equipment |
16,695,124 | ||||||||||||||||||||||||||
| Construction & Engineering – 0.7% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| 1,496 | KBR, Inc., Term Loan B |
6.045% | 1-Month LIBOR | 3.750% | 4/25/25 | B+ | 1,501,861 | |||||||||||||||||||||
| 1,760 | Traverse Midstream Partners, Term Loan B |
6.600% | 6-Month LIBOR | 4.000% | 9/27/24 | B+ | 1,774,202 | |||||||||||||||||||||
| 3,256 | Total Construction & Engineering |
3,276,063 | ||||||||||||||||||||||||||
| Consumer Finance – 0.7% (0.4% of Total Investments) | ||||||||||||||||||||||||||||
| 995 | Vantiv LLC, Repriced Term Loan B4 |
4.030% | 1-Month LIBOR | 1.750% | 8/09/24 | BBB– | 994,199 | |||||||||||||||||||||
| 2,000 | Verscend Technologies, Term Loan B |
6.802% | 1-Month LIBOR | 4.500% | 8/27/25 | B+ | 2,018,440 | |||||||||||||||||||||
| 2,995 | Total Consumer Finance |
3,012,639 | ||||||||||||||||||||||||||
| Containers & Packaging – 0.2% (0.1% of Total Investments) | ||||||||||||||||||||||||||||
| 1,048 | Berry Global, Inc., Term Loan Q |
4.277% | 1-Month LIBOR | 2.000% | 10/01/22 | BBB– | 1,049,325 | |||||||||||||||||||||
| Distributors – 0.3% (0.2% of Total Investments) | ||||||||||||||||||||||||||||
| 1,247 | SRS Distribution, Inc., Term Loan B |
5.552% | 1-Month LIBOR | 3.250% | 5/23/25 | B | 1,222,717 | |||||||||||||||||||||
| Diversified Consumer Services – 2.6% (1.7% of Total Investments) | ||||||||||||||||||||||||||||
| 4,967 | Cengage Learning Acquisitions, Inc., Term Loan B |
6.530% | 1-Month LIBOR | 4.250% | 6/07/23 | B | 4,626,679 | |||||||||||||||||||||
| 3,386 | Houghton Mifflin, Term Loan B, First Lien |
5.295% | 1-Month LIBOR | 3.000% | 5/28/21 | B | 3,121,364 | |||||||||||||||||||||
| 1,354 | Laureate Education, Inc., Term Loan B |
6.027% | 3-Month LIBOR | 3.500% | 4/26/24 | B+ | 1,358,463 | |||||||||||||||||||||
2
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| Diversified Consumer Services (continued) | ||||||||||||||||||||||||||||
| $ | 3,000 | Refinitiv US Holdings Inc., Term Loan, B |
6.052% | 1-Month LIBOR | 3.750% | 10/01/25 | BB+ | $ | 2,973,750 | |||||||||||||||||||
| 12,707 | Total Diversified Consumer Services |
12,080,256 | ||||||||||||||||||||||||||
| Diversified Financial Services – 2.2% (1.4% of Total Investments) | ||||||||||||||||||||||||||||
| 722 | Altisource Solutions S.A R.L., Term Loan B |
6.386% | 3-Month LIBOR | 4.000% | 4/03/24 | B+ | 723,213 | |||||||||||||||||||||
| 4,600 | Walter Investment Management Corporation, Tranche B, Term Loan, First Lien |
8.302% | 1-Month LIBOR | 6.000% | 6/30/22 | Caa2 | 4,289,691 | |||||||||||||||||||||
| 1,137 | Freedom Mortgage Corporation, Term Loan B |
7.050% | 1-Month LIBOR | 4.750% | 2/23/22 | BB– | 1,147,380 | |||||||||||||||||||||
| 633 | Lions Gate Entertainment Corp., Term Loan B |
4.552% | 1-Month LIBOR | 2.250% | 3/24/25 | Ba2 | 631,575 | |||||||||||||||||||||
| 1,188 | Travelport LLC, Term Loan B |
4.814% | 3-Month LIBOR | 2.500% | 3/17/25 | B+ | 1,188,118 | |||||||||||||||||||||
| 2,300 | Veritas US, Inc., Term Loan B1 |
6.823% | 1-Month LIBOR | 4.500% | 1/27/23 | B | 2,199,400 | |||||||||||||||||||||
| 10,580 | Total Diversified Financial Services |
10,179,377 | ||||||||||||||||||||||||||
| Diversified Telecommunication Services – 6.8% (4.3% of Total Investments) | ||||||||||||||||||||||||||||
| 4,500 | Numericable Group S.A., Term Loan B13 |
6.280% | 1-Month LIBOR | 4.000% | 8/14/26 | B1 | 4,419,383 | |||||||||||||||||||||
| 7,249 | CenturyLink, Inc., Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 1/31/25 | BBB– | 7,180,958 | |||||||||||||||||||||
| 1,444 | CenturyLink, Inc., Initial Term A Loan |
5.052% | 1-Month LIBOR | 2.750% | 11/01/22 | BBB– | 1,443,490 | |||||||||||||||||||||
| 4,447 | Frontier Communications Corporation, Term Loan B |
6.060% | 1-Month LIBOR | 3.750% | 1/14/22 | BB | 4,318,402 | |||||||||||||||||||||
| 614 | Intelsat Jackson Holdings, S.A., Term Loan B5 |
6.625% | N/A | N/A | 1/02/24 | B1 | 631,312 | |||||||||||||||||||||
| 383 | Intelsat Jackson Holdings, S.A., Term Loan B4 |
6.795% | 1-Month LIBOR | 4.500% | 1/02/24 | B1 | 399,776 | |||||||||||||||||||||
| 3,193 | Level 3 Financing, Inc., Tranche B, Term Loan |
4.530% | 1-Month LIBOR | 2.250% | 2/22/24 | BBB– | 3,199,067 | |||||||||||||||||||||
| 579 | Windstream Corporation, Term Loan B6 |
6.290% | 1-Month LIBOR | 4.000% | 3/29/21 | BB | 544,691 | |||||||||||||||||||||
| 9,000 | Ziggo B.V., Term Loan E |
4.780% | 1-Month LIBOR | 2.500% | 4/15/25 | BB | 8,837,370 | |||||||||||||||||||||
| 31,409 | Total Diversified Telecommunication Services |
30,974,449 | ||||||||||||||||||||||||||
| Electric Utilities – 1.0% (0.6% of Total Investments) | ||||||||||||||||||||||||||||
| 643 | EFS Cogen Holdings LLC, Term Loan B |
5.640% | 3-Month LIBOR | 3.250% | 6/28/23 | BB– | 642,857 | |||||||||||||||||||||
| 2,400 | Vistra Operations Co., Term Loan B1 |
4.302% | 1-Month LIBOR | 2.000% | 8/01/23 | BBB– | 2,397,599 | |||||||||||||||||||||
| 1,369 | Vistra Operations Co., Term Loan B3 |
4.293% | 1-Month LIBOR | 2.000% | 12/31/25 | BBB– | 1,366,684 | |||||||||||||||||||||
| 4,412 | Total Electric Utilities |
4,407,140 | ||||||||||||||||||||||||||
| Electrical Equipment – 0.5% (0.3% of Total Investments) | ||||||||||||||||||||||||||||
| 1,244 | TTM Technologies, Inc., Term Loan B |
4.756% | 1-Month LIBOR | 2.500% | 9/28/24 | BB+ | 1,246,717 | |||||||||||||||||||||
| 1,126 | Zebra Technologies Corporation, Term Loan B |
4.063% | 3-Month LIBOR | 1.750% | 10/27/21 | BB+ | 1,131,451 | |||||||||||||||||||||
| 2,370 | Total Electrical Equipment |
2,378,168 | ||||||||||||||||||||||||||
| Energy Equipment & Services – 1.7% (1.1% of Total Investments) | ||||||||||||||||||||||||||||
| 1,056 | Cypress Semiconductor Corp, Term Loan B |
4.310% | 1-Month LIBOR | 2.000% | 7/05/21 | BB+ | 1,056,087 | |||||||||||||||||||||
| 258 | Ocean Rig UDW, Inc., Term Loan |
8.000% | N/A | N/A | 9/20/24 | B | 272,069 | |||||||||||||||||||||
| 2,985 | McDermott International, Term Loan |
7.302% | 1-Month LIBOR | 5.000% | 5/12/25 | BB– | 2,954,404 | |||||||||||||||||||||
| 3,750 | Seadrill Partners LLC, Initial Term Loan |
8.386% | 3-Month LIBOR | 6.000% | 2/21/21 | CCC+ | 3,489,981 | |||||||||||||||||||||
| 8,049 | Total Energy Equipment & Services |
7,772,541 | ||||||||||||||||||||||||||
| Equity Real Estate Investment Trusts – 1.0% (0.6% of Total Investments) | ||||||||||||||||||||||||||||
| 4,605 | Communications Sales & Leasing, Inc., Shortfall Term Loan |
5.302% | 1-Month LIBOR | 3.000% | 10/24/22 | BB+ | 4,366,362 | |||||||||||||||||||||
| Food & Staples Retailing – 3.8% (2.4% of Total Investments) | ||||||||||||||||||||||||||||
| 1,321 | Albertson’s LLC, Term Loan B6 |
5.311% | 3-Month LIBOR | 3.000% | 6/22/23 | Ba2 | 1,317,647 | |||||||||||||||||||||
| 14,363 | Albertson’s LLC, Term Loan B7, (DD1) |
0.000% | N/A | N/A | 10/29/25 | Ba2 | 14,270,239 | |||||||||||||||||||||
| 1,250 | Hearthside Group Holdings LLC, Term Loan B |
5.302% | 1-Month LIBOR | 3.000% | 5/23/25 | B | 1,230,784 | |||||||||||||||||||||
| 587 |
Save-A-Lot, Term Loan B |
8.302% | 1-Month LIBOR | 6.000% | 12/05/23 | B3 | 422,664 | |||||||||||||||||||||
| 17,521 | Total Food & Staples Retailing |
17,241,334 | ||||||||||||||||||||||||||
| Food Products – 2.1% (1.3% of Total Investments) | ||||||||||||||||||||||||||||
| 971 | American Seafoods Group LLC, Term Loan B |
5.060% | 1-Month LIBOR | 2.750% | 8/21/23 | BB– | 970,227 | |||||||||||||||||||||
| 8,828 | US Foods, Inc., Term Loan B |
4.302% | 1-Month LIBOR | 2.000% | 6/27/23 | BBB– | 8,825,433 | |||||||||||||||||||||
| 9,799 | Total Food Products |
9,795,660 | ||||||||||||||||||||||||||
3
| JRO | Nuveen Floating Rate Income Opportunity Fund (continued) | |
| Portfolio of Investments October 31, 2018 | ||
| (Unaudited) |
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| Health Care Equipment & Supplies – 1.6% (1.0% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 956 | Greatbatch, New Term Loan B |
5.280% | 1-Month LIBOR | 3.000% | 10/27/22 | B+ | $ | 961,406 | |||||||||||||||||||
| 826 | Acelity, Term Loan B |
5.636% | 3-Month LIBOR | 3.250% | 2/02/24 | B1 | 830,157 | |||||||||||||||||||||
| 750 | LifeScan, Term Loan B |
8.396% | 3-Month LIBOR | 6.000% | 10/01/24 | B+ | 734,063 | |||||||||||||||||||||
| 1,861 | Onex Carestream Finance LP, Term Loan, First Lien |
6.302% | 1-Month LIBOR | 4.000% | 6/07/19 | B1 | 1,859,772 | |||||||||||||||||||||
| 2,240 | Onex Carestream Finance LP, Term Loan, Second Lien |
10.802% | 1-Month LIBOR | 8.500% | 12/07/19 | B– | 2,237,133 | |||||||||||||||||||||
| 748 | Vyaire Medical, Inc., Term Loan B |
7.136% | 3-Month LIBOR | 4.750% | 4/16/25 | B2 | 736,903 | |||||||||||||||||||||
| 7,381 | Total Health Care Equipment & Supplies |
7,359,434 | ||||||||||||||||||||||||||
| Health Care Providers & Services – 5.7% (3.6% of Total Investments) | ||||||||||||||||||||||||||||
| 863 | Air Medical Group Holdings, Inc., Term Loan B |
6.530% | 1-Month LIBOR | 4.250% | 3/14/25 | B1 | 849,151 | |||||||||||||||||||||
| 1,669 | Air Medical Group Holdings, Inc., Term Loan B |
5.534% | 1-Month LIBOR | 3.250% | 4/28/22 | B1 | 1,624,577 | |||||||||||||||||||||
| 748 | Ardent Health, Term Loan, First Lien |
6.802% | 1-Month LIBOR | 4.500% | 6/30/25 | B1 | 752,685 | |||||||||||||||||||||
| 1,134 | Catalent Pharma Solutions, Inc., Term Loan B |
4.552% | 1-Month LIBOR | 2.250% | 5/20/24 | BB | 1,140,068 | |||||||||||||||||||||
| 1,336 | Community Health Systems, Inc., Term Loan H |
5.563% | 3-Month LIBOR | 3.250% | 1/27/21 | B | 1,310,879 | |||||||||||||||||||||
| 1,424 | Conantra, Inc., Term Loan B |
5.030% | 1-Month LIBOR | 2.750% | 6/01/22 | B+ | 1,429,155 | |||||||||||||||||||||
| 863 | ConvaTec, Inc., Term Loan B |
4.636% | 3-Month LIBOR | 2.250% | 10/25/23 | BB | 863,655 | |||||||||||||||||||||
| 1,517 | HCA, Inc., Term Loan A5 |
3.802% | 1-Month LIBOR | 1.500% | 6/10/20 | BBB– | 1,522,175 | |||||||||||||||||||||
| 1,653 | HCA, Inc., Term Loan B11 |
4.052% | 1-Month LIBOR | 1.750% | 3/17/23 | BBB– | 1,660,986 | |||||||||||||||||||||
| 1,132 | Healogics, Inc., Term Loan, First Lien |
6.580% | 3-Month LIBOR | 4.250% | 7/01/21 | B– | 1,066,548 | |||||||||||||||||||||
| 79 | Heartland Dental Care, Inc., Delay Draw Facility, (6) |
3.750% | N/A | N/A | 4/30/25 | B2 | 79,186 | |||||||||||||||||||||
| 527 | Heartland Dental Care, Inc., Term Loan, First Lien |
6.052% | 1-Month LIBOR | 3.750% | 4/30/25 | B2 | 526,590 | |||||||||||||||||||||
| 2,443 | Kindred at Home Hospice, Term Loan B |
6.063% | 1-Month LIBOR | 3.750% | 7/02/25 | B1 | 2,457,183 | |||||||||||||||||||||
| 750 | Kindred at Home Hospice, Term Loan, Second Lien |
9.313% | 1-Month LIBOR | 7.000% | 6/21/26 | CCC+ | 768,281 | |||||||||||||||||||||
| 3,617 | Pharmaceutical Product Development, Inc., Term Loan B |
4.802% | 1-Month LIBOR | 2.500% | 8/18/22 | Ba3 | 3,610,456 | |||||||||||||||||||||
| 2,396 | McGraw-Hill Education Holdings LLC, Term Loan B |
4.780% | 1-Month LIBOR | 2.500% | 3/06/25 | Ba2 | 2,402,558 | |||||||||||||||||||||
| 2,679 | Millennium Laboratories, Inc., Term Loan B, First Lien |
8.802% | 1-Month LIBOR | 6.500% | 12/21/20 | CCC+ | 1,486,963 | |||||||||||||||||||||
| 1,244 | PharMerica, Term Loan, First Lien |
5.780% | 1-Month LIBOR | 3.500% | 12/06/24 | B1 | 1,249,191 | |||||||||||||||||||||
| 995 | Prospect Medical Holdings, Term Loan B1 |
7.813% | 1-Month LIBOR | 5.500% | 2/22/24 | B1 | 1,003,706 | |||||||||||||||||||||
| 205 | Quorum Health Corp., Term Loan B |
9.052% | 1-Month LIBOR | 6.750% | 4/29/22 | B1 | 207,309 | |||||||||||||||||||||
| 223 | Vizient, Inc., Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 2/13/23 | Ba3 | 223,862 | |||||||||||||||||||||
| 27,497 | Total Health Care Providers & Services |
26,235,164 | ||||||||||||||||||||||||||
| Health Care Technology – 1.2% (0.7% of Total Investments) | ||||||||||||||||||||||||||||
| 4,875 | Emdeon, Inc., Term Loan |
5.173% | 1-Month LIBOR | 2.750% | 3/01/24 | Ba3 | 4,875,317 | |||||||||||||||||||||
| 449 | Press Ganey Holdings, Inc., Term Loan, Second Lien |
8.802% | 1-Month LIBOR | 6.500% | 10/21/24 | CCC+ | 453,935 | |||||||||||||||||||||
| 5,324 | Total Health Care Technology |
5,329,252 | ||||||||||||||||||||||||||
| Hotels, Restaurants & Leisure – 13.2% (8.3% of Total Investments) | ||||||||||||||||||||||||||||
| 1,535 | 24 Hour Fitness Worldwide Inc., Term Loan, B |
5.802% | 1-Month LIBOR | 3.500% | 5/30/25 | Ba3 | 1,539,924 | |||||||||||||||||||||
| 933 | Aramark Corporation, Term Loan |
4.052% | 1-Month LIBOR | 1.750% | 3/11/25 | BBB– | 933,978 | |||||||||||||||||||||
| 746 | Arby’s Restaurant Group, Inc., Term Loan B |
5.460% | 2-Month LIBOR | 3.250% | 2/05/25 | B | 745,627 | |||||||||||||||||||||
| 14,754 | Burger King Corporation, Term Loan B3 |
4.552% | 1-Month LIBOR | 2.250% | 2/16/24 | Ba3 | 14,715,499 | |||||||||||||||||||||
| 4,676 | Caesars Entertainment Operating Company, Inc., Term Loan B, (DD1) |
4.302% | 1-Month LIBOR | 2.000% | 10/06/24 | BB | 4,658,086 | |||||||||||||||||||||
| 2,978 | Caesars Resort Collection, Term Loan, First Lien |
5.052% | 1-Month LIBOR | 2.750% | 12/23/24 | BB | 2,981,847 | |||||||||||||||||||||
| 1,513 | CCM Merger, Inc., Term Loan B |
4.552% | 1-Month LIBOR | 2.750% | 8/09/21 | BB | 1,516,839 | |||||||||||||||||||||
| 3,265 | CityCenter Holdings LLC, Term Loan B |
4.552% | 1-Month LIBOR | 2.250% | 4/18/24 | BB– | 3,262,855 | |||||||||||||||||||||
| 1,822 | Equinox Holdings, Inc., Term Loan B1 |
5.302% | 1-Month LIBOR | 3.000% | 3/08/24 | B+ | 1,830,086 | |||||||||||||||||||||
| 983 | Four Seasons Holdings, Inc., Term Loan B |
4.302% | 1-Month LIBOR | 2.000% | 11/30/23 | BB | 983,900 | |||||||||||||||||||||
| 5,115 | Hilton Hotels, Term Loan B |
4.031% | 1-Month LIBOR | 1.750% | 10/25/23 | BBB– | 5,125,976 | |||||||||||||||||||||
| 3,071 | Intrawest Resorts Holdings, Inc., Term Loan B |
5.302% | 1-Month LIBOR | 3.000% | 7/31/24 | B | 3,079,159 | |||||||||||||||||||||
| 1,950 | Life Time Fitness, Inc., Term Loan B |
5.063% | 3-Month LIBOR | 2.750% | 6/10/22 | BB– | 1,951,618 | |||||||||||||||||||||
| 2,252 | MGM Growth Properties, Term Loan B |
4.302% | 1-Month LIBOR | 2.000% | 4/25/25 | BB+ | 2,248,353 | |||||||||||||||||||||
| 7,672 | Scientific Games Corp., Initial Term Loan B5 |
5.046% | 2-Month LIBOR | 2.750% | 8/14/24 | Ba3 | 7,607,990 | |||||||||||||||||||||
| 3,042 | Stars Group Holdings, Term Loan B |
5.886% | 3-Month LIBOR | 3.500% | 7/10/25 | B+ | 3,059,275 | |||||||||||||||||||||
| 2,589 | Station Casino LLC, Term Loan B |
4.810% | 1-Month LIBOR | 2.500% | 6/08/23 | BB– | 2,591,115 | |||||||||||||||||||||
| 1,500 | Wyndham International, Inc., Term Loan B |
4.052% | 1-Month LIBOR | 1.750% | 5/30/25 | BBB– | 1,501,253 | |||||||||||||||||||||
| 60,396 | Total Hotels, Restaurants & Leisure |
60,333,380 | ||||||||||||||||||||||||||
4
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| Household Durables – 0.2% (0.1% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 1,184 | Serta Simmons Holdings LLC, Term Loan, First Lien |
5.775% | 1-Month LIBOR | 3.500% | 11/08/23 | B– | $ | 1,070,912 | |||||||||||||||||||
| Household Products – 0.2% (0.1% of Total Investments) | ||||||||||||||||||||||||||||
| 985 | Reynolds Group Holdings, Inc., Term Loan, First Lien |
5.052% | 1-Month LIBOR | 2.750% | 2/05/23 | B+ | 986,858 | |||||||||||||||||||||
| Independent Power & Renewable Electricity Producers – 1.1% (0.7% of Total Investments) | ||||||||||||||||||||||||||||
| 5,226 | NRG Energy, Inc., Term Loan B |
4.136% | 3-Month LIBOR | 1.750% | 6/30/23 | BBB– | 5,213,038 | |||||||||||||||||||||
| Industrial Conglomerates – 0.2% (0.1% of Total Investments) | ||||||||||||||||||||||||||||
| 995 | Education Advisory Board, Term Loan, First Lien |
6.406% | 2-Month LIBOR | 3.750% | 11/15/24 | B2 | 987,538 | |||||||||||||||||||||
| Insurance – 2.0% (1.2% of Total Investments) | ||||||||||||||||||||||||||||
| 739 | Acrisure LLC, Term Loan B |
6.552% | 1-Month LIBOR | 4.250% | 11/22/23 | B | 741,868 | |||||||||||||||||||||
| 3,826 | Alliant Holdings I LLC, Term Loan B |
5.280% | 1-Month LIBOR | 3.000% | 5/09/25 | B | 3,827,974 | |||||||||||||||||||||
| 1,822 | Asurion LLC, Term Loan B6 |
5.302% | 1-Month LIBOR | 3.000% | 11/03/23 | Ba3 | 1,825,710 | |||||||||||||||||||||
| 2,219 | Hub International Holdings, Inc., Term Loan B |
5.490% | 3-Month LIBOR | 3.000% | 4/25/25 | B | 2,215,841 | |||||||||||||||||||||
| 8,606 | Total Insurance |
8,611,393 | ||||||||||||||||||||||||||
| Interactive Media & Services – 0.2% (0.2% of Total Investments) | ||||||||||||||||||||||||||||
| 1,134 | Rackspace Hosting, Inc., Refinancing Term B Loan, First Lien |
5.348% | 3-Month LIBOR | 3.000% | 11/03/23 | BB+ | 1,103,462 | |||||||||||||||||||||
| Internet and Direct Marketing Retail – 0.9% (0.6% of Total Investments) | ||||||||||||||||||||||||||||
| 746 | Uber Technologies, Inc., Term Loan |
5.780% | 1-Month LIBOR | 3.500% | 7/13/23 | N/R | 747,245 | |||||||||||||||||||||
| 3,496 | Uber Technologies, Inc., Term Loan, (DD1) |
6.281% | 1-Month LIBOR | 4.000% | 4/04/25 | N/R | 3,499,904 | |||||||||||||||||||||
| 4,242 | Total Internet and Direct Marketing Retail |
|
4,247,149 | |||||||||||||||||||||||||
| Internet Software & Services – 0.9% (0.6% of Total Investments) | ||||||||||||||||||||||||||||
| 1,466 | Ancestry.com, Inc., Term Loan, First Lien |
5.550% | 1-Month LIBOR | 3.250% | 10/19/23 | B | 1,473,948 | |||||||||||||||||||||
| 953 | Dynatrace, Term Loan, First Lien |
5.552% | 1-Month LIBOR | 3.250% | 8/22/25 | B1 | 959,916 | |||||||||||||||||||||
| 97 | Dynatrace, Term Loan, Second Lien |
9.302% | 1-Month LIBOR | 7.000% | 8/21/26 | CCC+ | 98,010 | |||||||||||||||||||||
| 1,913 | SkillSoft Corporation, Term Loan, Second Lien |
10.552% | 1-Month LIBOR | 8.250% | 4/28/22 | CCC– | 1,526,009 | |||||||||||||||||||||
| 4,429 | Total Internet Software & Services |
4,057,883 | ||||||||||||||||||||||||||
| IT Services – 6.9% (4.3% of Total Investments) |
| |||||||||||||||||||||||||||
| 753 | DTI Holdings, Inc., Replacement Term Loan B1 |
7.276% | 2-Month LIBOR | 4.750% | 9/29/23 | B | 721,016 | |||||||||||||||||||||
| 890 | Engility Corporation, Term Loan B2 |
5.052% | 1-Month LIBOR | 2.750% | 8/11/23 | BB– | 892,823 | |||||||||||||||||||||
| 2,356 | First Data Corporation, Term Loan, First Lien |
4.287% | 1-Month LIBOR | 2.000% | 7/10/22 | BB+ | 2,350,505 | |||||||||||||||||||||
| 7,170 | First Data Corporation, Term Loan, First Lien |
4.287% | 1-Month LIBOR | 2.000% | 4/26/24 | BB+ | 7,139,317 | |||||||||||||||||||||
| 1,174 | Gartner, Inc., Term Loan A |
4.052% | 1-Month LIBOR | 1.750% | 3/21/22 | Ba1 | 1,178,441 | |||||||||||||||||||||
| 1,995 | GTT Communications, Inc., Term Loan, First Lien |
5.050% | 1-Month LIBOR | 2.750% | 6/02/25 | BB– | 1,971,080 | |||||||||||||||||||||
| 2,500 | Optiv Security, Inc., Term Loan, Second Lien |
9.552% | 1-Month LIBOR | 7.250% | 1/31/25 | Caa1 | 2,420,312 | |||||||||||||||||||||
| 672 | Presidio, Inc., Term Loan B |
5.145% | 3-Month LIBOR | 2.750% | 2/02/24 | B+ | 672,984 | |||||||||||||||||||||
| 3,633 | Sabre, Inc., Term Loan B |
4.302% | 1-Month LIBOR | 2.000% | 2/22/24 | BB | 3,635,682 | |||||||||||||||||||||
| 717 | Science Applications International Corporation, Term Loan B, (WI/DD) |
TBD | TBD | TBD | TBD | BB | 716,507 | |||||||||||||||||||||
| 2,786 | Syniverse Holdings, Inc., Tranche Term Loan C |
7.280% | 1-Month LIBOR | 5.000% | 3/09/23 | B | 2,806,310 | |||||||||||||||||||||
| 3,500 | Syniverse Holdings, Inc., Initial Term Loan, Second Lien |
11.280% | 1-Month LIBOR | 9.000% | 3/11/24 | CCC+ | 3,392,077 | |||||||||||||||||||||
| 1,728 | Tempo Acquisition LLC, Term Loan B |
5.302% | 1-Month LIBOR | 3.000% | 5/01/24 | B1 | 1,731,581 | |||||||||||||||||||||
| 958 | West Corporation, Term Loan B |
6.526% | 3-Month LIBOR | 4.000% | 10/10/24 | BB+ | 954,842 | |||||||||||||||||||||
| 978 | WEX, Inc., Term Loan B |
4.552% | 1-Month LIBOR | 2.250% | 7/01/23 | BB– | 980,555 | |||||||||||||||||||||
| 31,810 | Total IT Services |
31,564,032 | ||||||||||||||||||||||||||
| Life Sciences Tools & Services – 0.3% (0.2% of Total Investments) | ||||||||||||||||||||||||||||
| 990 | Parexel International Corp., Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 9/27/24 | B1 | 977,783 | |||||||||||||||||||||
| 457 | Inventiv Health, Inc., Term Loan B |
4.302% | 1-Month LIBOR | 2.000% | 8/01/24 | BB | 456,617 | |||||||||||||||||||||
| 1,447 | Total Life Sciences Tools & Services |
1,434,400 | ||||||||||||||||||||||||||
| Machinery – 1.1% (0.7% of Total Investments) | ||||||||||||||||||||||||||||
| 1,027 | BJ’s Wholesale Club, Inc., Term Loan B, First Lien |
5.280% | 1-Month LIBOR | 3.000% | 2/01/24 | B+ | 1,030,814 | |||||||||||||||||||||
| 1,922 | Gardner Denver, Inc., Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 7/30/24 | BB | 1,928,263 | |||||||||||||||||||||
5
| JRO | Nuveen Floating Rate Income Opportunity Fund (continued) | |
| Portfolio of Investments October 31, 2018 | ||
| (Unaudited) |
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| Machinery (continued) | ||||||||||||||||||||||||||||
| $ | 1,045 | Gates Global LLC, Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 4/01/24 | B+ | $ | 1,047,501 | |||||||||||||||||||
| 696 | TNT Crane and Rigging Inc., Initial Term Loan, First Lien |
6.886% | 3-Month LIBOR | 4.500% | 11/27/20 | CCC+ | 666,117 | |||||||||||||||||||||
| 650 | TNT Crane and Rigging, Inc., Term Loan, Second Lien |
11.386% | 3-Month LIBOR | 9.000% | 11/26/21 | CCC– | 568,100 | |||||||||||||||||||||
| 5,340 | Total Machinery |
5,240,795 | ||||||||||||||||||||||||||
| Marine – 0.6% (0.4% of Total Investments) | ||||||||||||||||||||||||||||
| 875 | American Commercial Lines LLC, Term Loan B, First Lien |
11.052% | 1-Month LIBOR | 8.750% | 11/12/20 | CCC+ | 671,405 | |||||||||||||||||||||
| 2,007 | Harvey Gulf International Marine, Inc., Exit Term Loan |
8.508% | 6-Month LIBOR | 6.000% | 7/02/23 | B | 2,027,301 | |||||||||||||||||||||
| 2,882 | Total Marine |
2,698,706 | ||||||||||||||||||||||||||
| Media – 13.5% (8.4% of Total Investments) | ||||||||||||||||||||||||||||
| 1,145 | Advantage Sales & Marketing, Inc., Term Loan, First Lien |
5.552% | 1-Month LIBOR | 3.250% | 7/23/21 | B1 | 1,046,011 | |||||||||||||||||||||
| 955 | Affinion Group Holdings, Inc., Term Loan, First Lien |
10.040% | 1-Month LIBOR | 7.750% | 5/10/22 | B2 | 977,863 | |||||||||||||||||||||
| 5,641 | Catalina Marketing Corporation, Term Loan, First Lien, (5) |
5.813% | 3-Month LIBOR | 3.500% | 4/09/21 | B2 | 2,143,522 | |||||||||||||||||||||
| 1,500 | Catalina Marketing Corporation, Term Loan, Second Lien, (5) |
9.063% | 3-Month LIBOR | 6.750% | 4/11/22 | Caa2 | 134,063 | |||||||||||||||||||||
| 4,537 | Cequel Communication LLC, Term Loan B, (WI/DD) |
TBD | TBD | TBD | TBD | BB | 4,535,194 | |||||||||||||||||||||
| 3,910 | Charter Communications Operating Holdings LLC, Term Loan B |
4.310% | 1-Month LIBOR | 2.000% | 4/30/25 | BBB– | 3,915,103 | |||||||||||||||||||||
| 1,988 | Cineworld Group PLC, Term Loan B |
4.802% | 1-Month LIBOR | 2.500% | 2/28/25 | BB– | 1,981,812 | |||||||||||||||||||||
| 5,014 | Clear Channel Communications, Inc., Tranche D, Term Loan, (5) |
0.000% | N/A | N/A | 1/30/19 | CC | 3,639,473 | |||||||||||||||||||||
| 7,296 | Clear Channel Communications, Inc., Term Loan E, (5) |
0.000% | N/A | N/A | 7/30/19 | CC | 5,287,533 | |||||||||||||||||||||
| 1,493 | CSC Holdings LLC, Term Loan B |
4.780% | 1-Month LIBOR | 2.500% | 1/25/26 | BB+ | 1,493,664 | |||||||||||||||||||||
| 6,637 | Cumulus Media, Inc., Exit Term Loan |
6.810% | 1-Month LIBOR | 4.500% | 5/13/22 | B | 6,567,007 | |||||||||||||||||||||
| 553 | Gray Television, Inc., Term Loan B2 |
4.515% | 1-Month LIBOR | 2.250% | 2/07/24 | BB+ | 554,038 | |||||||||||||||||||||
| 3,252 | Intelsat Jackson Holdings, S.A., Term Loan B, (DD1) |
6.045% | 1-Month LIBOR | 3.750% | 11/30/23 | B1 | 3,259,534 | |||||||||||||||||||||
| 1,921 | IMG Worldwide, Inc., Term Loan B |
5.280% | 2-Month LIBOR | 2.750% | 5/18/25 | B | 1,920,735 | |||||||||||||||||||||
| 5,141 | McGraw-Hill Education Holdings LLC, Term Loan B |
6.302% | 1-Month LIBOR | 4.000% | 5/02/22 | BB+ | 4,944,772 | |||||||||||||||||||||
| 1,500 | Metro-Goldwyn-Mayer Inc., Term Loan, First Lien |
4.810% | 1-Month LIBOR | 2.500% | 7/03/25 | BB | 1,503,863 | |||||||||||||||||||||
| 1,000 | Metro-Goldwyn-Mayer Inc., Term Loan, Second Lien |
6.810% | 1-Month LIBOR | 4.500% | 7/03/26 | B2 | 1,003,440 | |||||||||||||||||||||
| 474 | Nexstar Broadcasting, Inc., Term Loan B3, (WI/DD) |
TBD | TBD | TBD | TBD | BB+ | 474,750 | |||||||||||||||||||||
| 2,966 | Nexstar Broadcasting, Inc., Term Loan B3, (WI/DD) |
TBD | TBD | TBD | TBD | BB+ | 2,967,781 | |||||||||||||||||||||
| 400 | Red Ventures, Term Loan B |
6.302% | 1-Month LIBOR | 4.000% | 11/08/24 | BB | 402,300 | |||||||||||||||||||||
| 1,741 | Sinclair Television Group, Term Loan B2 |
4.560% | 1-Month LIBOR | 2.250% | 1/31/24 | BB+ | 1,747,120 | |||||||||||||||||||||
| 1,917 | Springer Science & Business Media, Inc., Term Loan B13, First Lien |
5.886% | 3-Month LIBOR | 3.500% | 8/15/22 | B | 1,925,468 | |||||||||||||||||||||
| 1,533 | UPC Financing Partnership, Term Loan AR1, First Lien |
4.780% | 1-Month LIBOR | 2.500% | 1/15/26 | BB+ | 1,529,463 | |||||||||||||||||||||
| 2,068 | Vyaire Medical, Inc., Term Loan, First Lien |
5.052% | 1-Month LIBOR | 2.750% | 1/31/25 | BB | 2,067,920 | |||||||||||||||||||||
| 5,743 | WideOpenWest Finance LLC, Term Loan B |
5.540% | 1-Month LIBOR | 3.250% | 8/18/23 | B | 5,560,848 | |||||||||||||||||||||
| 70,325 | Total Media |
61,583,277 | ||||||||||||||||||||||||||
| Multiline Retail – 1.4% (0.9% of Total Investments) | ||||||||||||||||||||||||||||
| 2,051 | 99 Cents Only Stores, Tranche B2, Term Loan, Second Lien, (cash 8.853%, PIK 1.500%) |
8.853% | 3-Month LIBOR | 6.500% | 1/13/22 | CCC+ | 1,975,786 | |||||||||||||||||||||
| 802 | Belk, Inc., Term Loan B, First Lien |
7.034% | 1-Month LIBOR | 4.750% | 12/12/22 | B2 | 676,446 | |||||||||||||||||||||
| 1,493 | EG America LLC, Term Loan, First Lien |
6.386% | 3-Month LIBOR | 4.000% | 2/07/25 | B | 1,496,045 | |||||||||||||||||||||
| 922 | Hudson’s Bay Company, Term Loan B, First Lien |
5.545% | 1-Month LIBOR | 3.250% | 9/30/22 | BB– | 908,535 | |||||||||||||||||||||
| 1,410 | Neiman Marcus Group, Inc., Term Loan |
5.531% | 1-Month LIBOR | 3.250% | 10/25/20 | Caa2 | 1,288,031 | |||||||||||||||||||||
| 6,678 | Total Multiline Retail |
6,344,843 | ||||||||||||||||||||||||||
| Oil, Gas & Consumable Fuels – 2.2% (1.3% of Total Investments) | ||||||||||||||||||||||||||||
| 1,451 | BCP Renaissance Parent, Term Loan B |
6.027% | 3-Month LIBOR | 3.500% | 10/31/24 | BB– | 1,458,163 | |||||||||||||||||||||
| 1,250 | California Resources Corporation, Term Loan |
12.670% | 1-Month LIBOR | 10.375% | 12/31/21 | B | 1,394,794 | |||||||||||||||||||||
| 1,400 | California Resources Corporation, Term Loan B |
7.037% | 1-Month LIBOR | 4.750% | 12/31/22 | B | 1,424,500 | |||||||||||||||||||||
| 2,551 | Fieldwood Energy LLC, Exit Term Loan |
7.552% | 1-Month LIBOR | 5.250% | 4/11/22 | BB– | 2,571,520 | |||||||||||||||||||||
| 1,657 | Fieldwood Energy LLC, Exit Term Loan, second Lien |
9.552% | 1-Month LIBOR | 7.250% | 4/11/23 | B+ | 1,603,079 | |||||||||||||||||||||
| 1,209 | Peabody Energy Corporation, Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 3/31/25 | BB | 1,208,186 | |||||||||||||||||||||
| 46 | Southcross Holdings Borrower L.P., Term Loan B, First Lien, (cash 3.500%, PIK 5.500%) |
3.500% | N/A | N/A | 4/13/23 | CCC | 46,376 | |||||||||||||||||||||
| 9,564 | Total Oil, Gas & Consumable Fuels |
9,706,618 | ||||||||||||||||||||||||||
6
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| Personal Products – 1.2% (0.8% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 1,728 | Coty, Inc., Term Loan A |
4.031% | 1-Month LIBOR | 1.750% | 4/05/23 | BB+ | $ | 1,684,922 | |||||||||||||||||||
| 1,496 | Coty, Inc., Term Loan B |
4.531% | 1-Month LIBOR | 2.250% | 4/07/25 | BB+ | 1,469,437 | |||||||||||||||||||||
| 3,156 | Revlon Consumer Products Corporation, Term Loan B, First Lien |
5.813% | 3-Month LIBOR | 3.500% | 11/16/20 | B3 | 2,321,954 | |||||||||||||||||||||
| 6,380 | Total Personal Products |
5,476,313 | ||||||||||||||||||||||||||
| Pharmaceuticals – 1.2% (0.8% of Total Investments) | ||||||||||||||||||||||||||||
| 965 | Alphabet Holding Company, Inc., Initial Term Loan, First Lien |
5.802% | 1-Month LIBOR | 3.500% | 9/26/24 | B– | 926,868 | |||||||||||||||||||||
| 1,643 | Valeant Pharmaceuticals International, Inc., Term Loan, First Lien |
5.274% | 1-Month LIBOR | 3.000% | 6/02/25 | BB– | 1,645,532 | |||||||||||||||||||||
| 3,020 | Concordia International Corp, Term Loan, |
7.781% | 1-Month LIBOR | 5.500% | 9/06/24 | B– | 2,967,150 | |||||||||||||||||||||
| 5,628 | Total Pharmaceuticals |
5,539,550 | ||||||||||||||||||||||||||
| Professional Services – 1.5% (1.0% of Total Investments) | ||||||||||||||||||||||||||||
| 957 | On Assignment, Inc., Term Loan B |
4.302% | 1-Month LIBOR | 2.000% | 4/02/25 | BB | 960,533 | |||||||||||||||||||||
| 1,066 | Ceridian HCM Holding, Inc., Term Loan B |
5.552% | 1-Month LIBOR | 3.250% | 4/30/25 | B | 1,071,818 | |||||||||||||||||||||
| 3,149 | Skillsoft Corporation, Initial Term Loan, First Lien |
7.052% | 1-Month LIBOR | 4.750% | 4/28/21 | B3 | 2,917,777 | |||||||||||||||||||||
| 1,970 | Nielsen Finance LLC, Term Loan B4 |
4.281% | 1-Month LIBOR | 2.000% | 10/04/23 | BBB– | 1,963,430 | |||||||||||||||||||||
| 7,142 | Total Professional Services |
6,913,558 | ||||||||||||||||||||||||||
| Real Estate Management & Development – 1.4% (0.9% of Total Investments) | ||||||||||||||||||||||||||||
| 2,850 | GGP, Term Loan B |
4.795% | 1-Month LIBOR | 2.500% | 8/27/25 | BB+ | 2,809,288 | |||||||||||||||||||||
| 1,257 | Realogy Group LLC, Term Loan B |
4.530% | 1-Month LIBOR | 2.250% | 2/08/25 | BB+ | 1,255,530 | |||||||||||||||||||||
| 988 | Realogy Group LLC, Term Loan A |
4.530% | 1-Month LIBOR | 2.250% | 2/08/23 | BB+ | 987,500 | |||||||||||||||||||||
| 1,481 | Trico Group LLC, Term Loan, First Lien |
8.813% | 3-Month LIBOR | 6.500% | 2/02/24 | B | 1,486,805 | |||||||||||||||||||||
| 6,576 | Total Real Estate Management & Development |
6,539,123 | ||||||||||||||||||||||||||
| Road & Rail – 2.4% (1.5% of Total Investments) | ||||||||||||||||||||||||||||
| 8,087 | Avolon LLC, Term Loan B |
4.280% | 1-Month LIBOR | 2.000% | 1/15/25 | BBB– | 8,076,806 | |||||||||||||||||||||
| 1,459 | Quality Distribution, Incremental Term Loan, First Lien |
7.886% | 3-Month LIBOR | 5.500% | 8/18/22 | B2 | 1,477,896 | |||||||||||||||||||||
| 1,217 | Savage Enterprises LLC, Term Loan B |
6.770% | 1-Month LIBOR | 4.500% | 8/01/25 | B+ | 1,229,503 | |||||||||||||||||||||
| 10,763 | Total Road & Rail |
10,784,205 | ||||||||||||||||||||||||||
| Semiconductors & Semiconductor Equipment – 1.0% (0.6% of Total Investments) | ||||||||||||||||||||||||||||
| 222 | Lumileds, Term Loan B |
5.859% | 3-Month LIBOR | 3.500% | 6/30/24 | B1 | 217,673 | |||||||||||||||||||||
| 1,809 | Microchip Technology., Inc., Term Loan B |
4.310% | 1-Month LIBOR | 2.000% | 5/29/25 | Baa3 | 1,804,597 | |||||||||||||||||||||
| 1,222 | Micron Technology, Inc., Term Loan B |
4.060% | 1-Month LIBOR | 1.750% | 4/10/22 | Baa2 | 1,224,930 | |||||||||||||||||||||
| 1,427 | ON Semiconductor Corporation, Term Loan B3 |
4.052% | 1-Month LIBOR | 1.750% | 3/31/23 | Baa3 | 1,426,206 | |||||||||||||||||||||
| 4,680 | Total Semiconductors & Semiconductor Equipment |
4,673,406 | ||||||||||||||||||||||||||
| Software – 13.0% (8.1% of Total Investments) | ||||||||||||||||||||||||||||
| 3,302 | Blackboard, Inc., Term Loan B4, (DD1) |
7.445% | 3-Month LIBOR | 5.000% | 6/30/21 | B– | 3,161,155 | |||||||||||||||||||||
| 5,680 | BMC Software, Inc., Term Loan B |
6.648% | 3-Month LIBOR | 4.250% | 9/01/25 | B | 5,706,882 | |||||||||||||||||||||
| 602 | Compuware Corporation, Term Loan, First Lien |
5.787% | 1-Month LIBOR | 3.500% | 8/25/25 | B1 | 607,815 | |||||||||||||||||||||
| 2,145 | Ellucian, Term Loan B, First Lien |
5.636% | 3-Month LIBOR | 3.250% | 9/30/22 | B | 2,152,516 | |||||||||||||||||||||
| 2,948 | Greeneden U.S. Holdings II LLC, Term Loan B |
5.802% | 1-Month LIBOR | 3.500% | 12/01/23 | B | 2,962,538 | |||||||||||||||||||||
| 10,796 | Infor (US), Inc., Term Loan B |
4.992% | 3-Month LIBOR | 2.750% | 2/01/22 | B1 | 10,770,146 | |||||||||||||||||||||
| 1,669 | Informatica, Term Loan B |
5.552% | 1-Month LIBOR | 3.250% | 8/05/22 | B1 | 1,677,526 | |||||||||||||||||||||
| 1,231 | Kronos Incorporated, Term Loan B |
5.343% | 3-Month LIBOR | 3.000% | 11/20/23 | B | 1,234,894 | |||||||||||||||||||||
| 750 | McAfee Holdings International, Inc., Term Loan, Second Lien |
10.795% | 1-Month LIBOR | 8.500% | 9/29/25 | B– | 765,705 | |||||||||||||||||||||
| 3,173 | McAfee LLC, Term Loan B |
6.049% | 1-Month LIBOR | 4.500% | 9/29/24 | B1 | 3,187,681 | |||||||||||||||||||||
| 896 | Micro Focus International PLC, New Term Loan |
4.802% | 1-Month LIBOR | 2.500% | 6/21/24 | BB– | 895,095 | |||||||||||||||||||||
| 6,051 | Micro Focus International PLC, Term Loan B |
4.802% | 1-Month LIBOR | 2.500% | 6/21/24 | BB– | 6,044,797 | |||||||||||||||||||||
| 2,921 | Micro Focus International PLC, Term Loan B2 |
4.552% | 1-Month LIBOR | 2.250% | 11/19/21 | BB– | 2,906,014 | |||||||||||||||||||||
| 746 | Mitchell International, Inc., Initial Term Loan, First Lien |
5.552% | 1-Month LIBOR | 3.250% | 11/29/24 | B2 | 744,209 | |||||||||||||||||||||
| 667 | Mitchell International, Inc., Initial Term Loan, Second Lien |
9.552% | 1-Month LIBOR | 7.250% | 12/01/25 | CCC | 670,937 | |||||||||||||||||||||
| 636 | Misys, New Term Loan, Second Lien |
9.636% | 3-Month LIBOR | 7.250% | 6/13/25 | BB– | 627,883 | |||||||||||||||||||||
| 1,474 | RP Crown Parent LLC, Term Loan B |
5.052% | 1-Month LIBOR | 2.750% | 10/15/23 | B1 | 1,473,382 | |||||||||||||||||||||
7
| JRO | Nuveen Floating Rate Income Opportunity Fund (continued) | |
| Portfolio of Investments October 31, 2018 | ||
| (Unaudited) |
| Principal Amount (000) |
Description (1) | Coupon (2) | Reference Rate (2) |
Spread (2) | Maturity (3) | Ratings (4) | Value | |||||||||||||||||||||
| Software (continued) | ||||||||||||||||||||||||||||
| $ | 1,623 | SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., Term Loan B4 |
4.552% | 1-Month LIBOR | 2.250% | 4/16/25 | BB | $ | 1,616,386 | |||||||||||||||||||
| 4,186 | SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., Term Loan B3 |
4.552% | 1-Month LIBOR | 2.250% | 4/16/25 | BB | 4,170,242 | |||||||||||||||||||||
| 7,807 | Tibco Software, Inc., Term Loan, First Lien |
5.800% | 1-Month LIBOR | 3.500% | 12/04/20 | B1 | 7,833,773 | |||||||||||||||||||||
| 59,303 | Total Software |
59,209,576 | ||||||||||||||||||||||||||
| Specialty Retail – 1.5% (0.9% of Total Investments) | ||||||||||||||||||||||||||||
| 1,850 | Academy, Ltd., Term Loan B |
6.259% | 1-Month LIBOR | 4.000% | 7/01/22 | CCC+ | 1,386,258 | |||||||||||||||||||||
| 3,859 | Petco Animal Supplies, Inc., Term Loan B1 |
5.777% | 3-Month LIBOR | 3.250% | 1/26/23 | B2 | 3,004,616 | |||||||||||||||||||||
| 2,712 | Petsmart Inc., Term Loan B, First Lien |
5.280% | 1-Month LIBOR | 3.000% | 3/11/22 | B3 | 2,306,350 | |||||||||||||||||||||
| 8,421 | Total Specialty Retail |
6,697,224 | ||||||||||||||||||||||||||
| Technology Hardware, Storage & Peripherals – 5.6% (3.5% of Total Investments) | ||||||||||||||||||||||||||||
| 4,283 | Dell International LLC, Replacement Term Loan A2 |
4.060% | 1-Month LIBOR | 1.750% | 9/07/21 | BBB– | 4,282,419 | |||||||||||||||||||||
| 1,192 | Dell International LLC, Replacement Term Loan A3 |
3.810% | 1-Month LIBOR | 1.500% | 12/31/18 | BBB– | 1,191,827 | |||||||||||||||||||||
| 13,168 | Dell International LLC, Refinancing Term Loan B |
4.310% | 1-Month LIBOR | 2.000% | 9/07/23 | BBB– | 13,169,004 | |||||||||||||||||||||
| 7,015 | Western Digital, Term Loan B |
4.044% | 1-Month LIBOR | 1.750% | 4/29/23 | Baa2 | 6,984,650 | |||||||||||||||||||||
| 25,658 | Total Technology Hardware, Storage & Peripherals |
|
25,627,900 | |||||||||||||||||||||||||
| Wireless Telecommunication Services – 1.9% (1.2% of Total Investments) | ||||||||||||||||||||||||||||
| 1,988 | Asurion LLC, Term Loan B4 |
5.302% | 1-Month LIBOR | 3.000% | 8/04/22 | Ba3 | 1,993,806 | |||||||||||||||||||||
| 6,895 | Sprint Corporation, Term Loan, First Lien |
4.813% | 1-Month LIBOR | 2.500% | 2/02/24 | Ba2 | 6,900,378 | |||||||||||||||||||||
| 8,883 | Total Wireless Telecommunication Services |
|
8,894,184 | |||||||||||||||||||||||||
| $ | 617,218 | Total Variable Rate Senior Loan Interests (cost $610,956,342) |
|
598,852,724 | ||||||||||||||||||||||||
| Principal Amount (000) |
Description (1) | Coupon | Maturity | Ratings (4) | Value | |||||||||||||||||||||||
| CORPORATE BONDS – 21.0% (13.2% of Total Investments) |
| |||||||||||||||||||||||||||
| Banks – 0.3% (0.2% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 1,300 | Wells Fargo & Company |
3.661% | 3/04/21 | A+ | $ | 1,326,400 | |||||||||||||||||||||
| Communications Equipment – 2.5% (1.6% of Total Investments) | ||||||||||||||||||||||||||||
| 155 | Avaya Holdings Corporation, (5), (7) |
7.000% | 4/01/19 | N/R | — | |||||||||||||||||||||||
| 3,830 | Avaya Holdings Corporation, (5), (7) |
10.500% | 3/01/21 | N/R | — | |||||||||||||||||||||||
| 6,472 | Intelsat Jackson Holdings SA |
5.500% | 8/01/23 | CCC+ | 5,792,440 | |||||||||||||||||||||||
| 5,580 | Intelsat Jackson Holdings SA, 144A |
9.750% | 7/15/25 | CCC+ | 5,845,050 | |||||||||||||||||||||||
| 16,037 | Total Communications Equipment |
11,637,490 | ||||||||||||||||||||||||||
| Containers & Packaging – 0.9% (0.6% of Total Investments) | ||||||||||||||||||||||||||||
| 4,070 | Reynolds Group Issuer Inc. |
5.750% | 10/15/20 | B+ | 4,070,252 | |||||||||||||||||||||||
| Diversified Financial Services – 0.6% (0.4% of Total Investments) | ||||||||||||||||||||||||||||
| 2,800 | JPMorgan Chase & Company |
2.877% | 3/09/21 | AA– | 2,803,598 | |||||||||||||||||||||||
| Diversified Telecommunication Services – 2.4% (1.5% of Total Investments) | ||||||||||||||||||||||||||||
| 1,365 | CSC Holdings LLC, 144A |
10.125% | 1/15/23 | B+ | 1,481,667 | |||||||||||||||||||||||
| 1,650 | CSC Holdings LLC, 144A |
10.875% | 10/15/25 | B+ | 1,903,687 | |||||||||||||||||||||||
| 8,012 | Intelsat Luxembourg SA |
7.750% | 6/01/21 | Ca | 7,571,340 | |||||||||||||||||||||||
| 11,027 | Total Diversified Telecommunication Services |
|
10,956,694 | |||||||||||||||||||||||||
| Health Care Providers & Services – 2.0% (1.2% of Total Investments) | ||||||||||||||||||||||||||||
| 4,500 | HCA Inc. |
6.500% | 2/15/20 | BBB– | 4,646,250 | |||||||||||||||||||||||
| 2,000 | HCA Inc. |
5.875% | 3/15/22 | BBB– | 2,092,500 | |||||||||||||||||||||||
| 880 | Tenet Healthcare Corporation |
4.750% | 6/01/20 | BB– | 882,200 | |||||||||||||||||||||||
| 590 | Tenet Healthcare Corporation |
6.000% | 10/01/20 | BB– | 604,190 | |||||||||||||||||||||||
| 800 | Tenet Healthcare Corporation |
4.500% | 4/01/21 | BB– | 796,000 | |||||||||||||||||||||||
| 8,770 | Total Health Care Providers & Services |
|
9,021,140 | |||||||||||||||||||||||||
8
| Principal Amount (000) |
Description (1) | Coupon | Maturity | Ratings (4) | Value | |||||||||||||||||||||||
| Hotels, Restaurants & Leisure – 1.2% (0.7% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 1,000 | MGM Resorts International |
5.250% | 3/31/20 | BB | $ | 1,012,500 | |||||||||||||||||||||
| 4,200 | Scientific Games International Inc. |
10.000% | 12/01/22 | B– | 4,389,000 | |||||||||||||||||||||||
| 5,200 | Total Hotels, Restaurants & Leisure |
5,401,500 | ||||||||||||||||||||||||||
| Household Durables – 1.4% (0.9% of Total Investments) | ||||||||||||||||||||||||||||
| 4,900 | Lennar Corporation |
4.125% | 12/01/18 | BBB– | 4,893,875 | |||||||||||||||||||||||
| 1,500 | Lennar Corporation |
4.500% | 11/15/19 | BBB– | 1,505,625 | |||||||||||||||||||||||
| 6,400 | Total Household Durables |
6,399,500 | ||||||||||||||||||||||||||
| Media – 3.8% (2.4% of Total Investments) | ||||||||||||||||||||||||||||
| 150 | Charter Communications Operating LLC |
3.579% | 7/23/20 | BBB– | 149,801 | |||||||||||||||||||||||
| 495 | DISH DBS Corporation |
5.125% | 5/01/20 | BB | 496,238 | |||||||||||||||||||||||
| 1,000 | DISH DBS Corporation |
5.875% | 11/15/24 | BB | 850,000 | |||||||||||||||||||||||
| 1,325 | Hughes Satellite Systems Corporation |
6.500% | 6/15/19 | BBB– | 1,343,351 | |||||||||||||||||||||||
| 4,662 | iHeartCommunications Inc., (5) |
9.000% | 12/15/19 | CC | 3,356,640 | |||||||||||||||||||||||
| 14,960 | iHeartCommunications Inc., (5) |
14.000% | 2/01/21 | C | 1,776,525 | |||||||||||||||||||||||
| 1,714 | iHeartCommunications Inc., 144A, (5) |
11.250% | 3/01/21 | C | 1,182,660 | |||||||||||||||||||||||
| 6,250 | iHeartCommunications Inc., (5) |
9.000% | 3/01/21 | CC | 4,515,625 | |||||||||||||||||||||||
| 4,370 | Intelsat Luxembourg SA |
8.125% | 6/01/23 | CCC– | 3,671,455 | |||||||||||||||||||||||
| 34,926 | Total Media |
17,342,295 | ||||||||||||||||||||||||||
| Oil, Gas & Consumable Fuels – 1.6% (1.0% of Total Investments) | ||||||||||||||||||||||||||||
| 5,170 | California Resources Corporation, 144A |
8.000% | 12/15/22 | B– | 4,601,300 | |||||||||||||||||||||||
| 500 | Denbury Resources Inc. |
6.375% | 8/15/21 | CCC+ | 465,000 | |||||||||||||||||||||||
| 1,814 | Denbury Resources Inc., 144A |
9.250% | 3/31/22 | B+ | 1,891,095 | |||||||||||||||||||||||
| 180 | EP Energy LLC, 144A |
9.375% | 5/01/24 | Caa2 | 136,800 | |||||||||||||||||||||||
| 7,664 | Total Oil, Gas & Consumable Fuels |
7,094,195 | ||||||||||||||||||||||||||
| Pharmaceuticals – 0.5% (0.3% of Total Investments) | ||||||||||||||||||||||||||||
| 1,500 | Bausch Health Cos Inc., 144A |
6.500% | 3/15/22 | BB– | 1,552,500 | |||||||||||||||||||||||
| 733 | Concordia International Corporation |
8.000% | 9/06/24 | B3 | 716,508 | |||||||||||||||||||||||
| 2,233 | Total Pharmaceuticals |
2,269,008 | ||||||||||||||||||||||||||
| Real Estate Management & Development – 0.7% (0.4% of Total Investments) | ||||||||||||||||||||||||||||
| 3,250 | Realogy Group LLC, 144A |
5.250% | 12/01/21 | B1 | 3,193,125 | |||||||||||||||||||||||
| Semiconductors & Semiconductor Equipment – 0.3% (0.2% of Total Investments) | ||||||||||||||||||||||||||||
| 1,394 | Advanced Micro Devices Inc. |
7.500% | 8/15/22 | B+ | 1,526,430 | |||||||||||||||||||||||
| Software – 0.8% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| 3,500 | Infor US Inc., 144A |
5.750% | 8/15/20 | B1 | 3,539,375 | |||||||||||||||||||||||
| Wireless Telecommunication Services – 2.0% (1.3% of Total Investments) | ||||||||||||||||||||||||||||
| 750 | Level 3 Financing Inc. |
5.375% | 8/15/22 | BB | 750,937 | |||||||||||||||||||||||
| 1,450 | Sprint Communications Inc. |
7.000% | 8/15/20 | B+ | 1,500,750 | |||||||||||||||||||||||
| 6,000 | Sprint Corporation |
7.875% | 9/15/23 | B+ | 6,405,000 | |||||||||||||||||||||||
| 500 | Sprint Corporation |
7.125% | 6/15/24 | B+ | 511,250 | |||||||||||||||||||||||
| 8,700 | Total Wireless Telecommunication Services |
|
9,167,937 | |||||||||||||||||||||||||
| $ | 117,271 | Total Corporate Bonds (cost $103,785,898) |
|
95,748,939 | ||||||||||||||||||||||||
| Shares | Description (1) | Value | ||||||||||||||||||||||||||
| COMMON STOCKS – 2.7% (1.7% of Total Investments) |
||||||||||||||||||||||||||||
| Diversified Consumer Services – 0.1% (0.1% of Total Investments) | ||||||||||||||||||||||||||||
| 51,618 | Cengage Learning Holdings II Inc., (8), (9) |
$ | 468,846 | |||||||||||||||||||||||||
| Energy Equipment & Services – 0.7% (0.3% of Total Investments) | ||||||||||||||||||||||||||||
| 29,321 | C&J Energy Services Inc., (8) |
550,648 | ||||||||||||||||||||||||||
| 39,597 | Ocean Rig UDW Inc., (8) |
1,199,393 | ||||||||||||||||||||||||||
9
| JRO | Nuveen Floating Rate Income Opportunity Fund (continued) | |
| Portfolio of Investments October 31, 2018 | ||
| (Unaudited) |
| Shares | Description (1) | Value | ||||||||||||||||||||||||||
| Energy Equipment & Services (continued) | ||||||||||||||||||||||||||||
| 2,534 | Vantage Drilling International, (8), (9) |
$ | 774,560 | |||||||||||||||||||||||||
| Total Energy Equipment & Services |
2,524,601 | |||||||||||||||||||||||||||
| Health Care Providers & Services – 0.0% (0.0% of Total Investments) | ||||||||||||||||||||||||||||
| 54,276 | Millennium Health LLC, (8), (9) |
3,148 | ||||||||||||||||||||||||||
| 50,560 | Millennium Health LLC, (7), (8) |
100,128 | ||||||||||||||||||||||||||
| 47,462 | Millennium Health LLC, (7), (8) |
89,246 | ||||||||||||||||||||||||||
| Total Health Care Providers & Services |
192,522 | |||||||||||||||||||||||||||
| Marine – 0.3% (0.2% of Total Investments) | ||||||||||||||||||||||||||||
| 21,097 | HGIM Corporation, (9) |
1,118,141 | ||||||||||||||||||||||||||
| 4,721 | HGIM Corporation, (8), (9) |
250,213 | ||||||||||||||||||||||||||
| Total Marine |
1,368,354 | |||||||||||||||||||||||||||
| Media – 0.8% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| 84,691 | Cumulus Media Inc., (8) |
1,233,101 | ||||||||||||||||||||||||||
| 1,318,561 | Hibu PLC, (8), (9) |
395,568 | ||||||||||||||||||||||||||
| 23,363 | Metro-Goldwyn-Mayer Inc., (8), (9) |
1,974,174 | ||||||||||||||||||||||||||
| 36,087 | Tribune Media Company, (9) |
18,044 | ||||||||||||||||||||||||||
| Total Media |
3,620,887 | |||||||||||||||||||||||||||
| Oil, Gas & Consumable Fuels – 0.0% (0.0% of Total Investments) | ||||||||||||||||||||||||||||
| 46 | Southcross Holdings Borrower LP, (8), (9) |
34,500 | ||||||||||||||||||||||||||
| Pharmaceuticals – 0.1% (0.1% of Total Investments) | ||||||||||||||||||||||||||||
| 22,941 | Concordia International Corporation, (8) |
465,984 | ||||||||||||||||||||||||||
| Software – 0.7% (0.5% of Total Investments) | ||||||||||||||||||||||||||||
| 206,112 | Avaya Holdings Corporation, (8) |
3,384,361 | ||||||||||||||||||||||||||
| Specialty Retail – 0.0% (0.0% of Total Investments) | ||||||||||||||||||||||||||||
| 8,181 | Gymboree Holding Corporation, (8), (9) |
38,860 | ||||||||||||||||||||||||||
| 22,273 | Gymboree Holding Corporation, (8), (9) |
105,797 | ||||||||||||||||||||||||||
| Total Specialty Retail |
144,657 | |||||||||||||||||||||||||||
| Total Common Stocks (cost $18,108,127) |
12,204,712 | |||||||||||||||||||||||||||
| Principal Amount (000) |
Description (1) | Coupon | Maturity | Ratings (4) | Value | |||||||||||||||||||||||
| ASSET-BACKED SECURITIES – 0.8% (0.5% of Total Investments) |
||||||||||||||||||||||||||||
| $ | 675 | Bristol Park CLO LTD, Series 2016-1A, 144A, (3-Month LIBOR reference rate + 7.250% spread), (10) |
9.686% | 4/15/29 | Ba3 | $ | 687,770 | |||||||||||||||||||||
| 800 | Dryden 50 Senior Loan Fund, Series 2017-50A, 144A, (3-Month LIBOR reference rate + 6.260% spread), (10) |
8.696% | 7/15/30 | Ba3 | 805,784 | |||||||||||||||||||||||
| 750 | Gilbert Park CLO LTD, Series 2017-1A, 144A, (3-Month LIBOR reference rate + 6.400% spread), (10) |
8.836% | 10/15/30 | Ba3 | 757,576 | |||||||||||||||||||||||
| 1,250 | Madison Park Funding Limited, Collateralized Loan Obligations, Series 2015-16A, 144A, (3-Month LIBOR reference rate + 5.500% spread), (10) |
7.969% | 4/20/26 | Ba3 | 1,250,380 | |||||||||||||||||||||||
| 400 | Neuberger Berman Loan Advisers CLO 28 Limited, Series 2018-28A, 144A, (3-Month LIBOR reference rate + 5.600% spread), (10) |
8.069% | 4/20/30 | BB– | 399,985 | |||||||||||||||||||||||
| $ | 3,875 | Total Asset-Backed Securities (cost $3,794,155) |
3,901,495 | |||||||||||||||||||||||||
| Shares | Description (1) | Value | ||||||||||||||||||||||||||
| COMMON STOCK RIGHTS – 0.1% (0.1% of Total Investments) |
|
|||||||||||||||||||||||||||
| Oil, Gas & Consumable Fuels – 0.1% (0.1% of Total Investments) | ||||||||||||||||||||||||||||
| 2,721 | Fieldwood Energy LLC, (8), (9) |
$ | 133,329 | |||||||||||||||||||||||||
| 13,466 | Fieldwood Energy LLC, (7), (8) |
586,619 | ||||||||||||||||||||||||||
| Total Common Stock Rights (cost $384,387) |
|
719,948 | ||||||||||||||||||||||||||
10
| Shares | Description (1) | Value | ||||||||||||||||||||||||||
| WARRANTS – 0.0% (0.0% of Total Investments) |
|
|||||||||||||||||||||||||||
| 15,619 | Avaya Holdings Corporation |
$ | 35,143 | |||||||||||||||||||||||||
| Total Warrants (cost $1,460,830) |
35,143 | |||||||||||||||||||||||||||
| Principal Amount (000) |
Description (1) | Coupon | Maturity | Ratings (4) | Value | |||||||||||||||||||||||
| CONVERTIBLE BONDS – 0.0% (0.0% of Total Investments) |
|
|||||||||||||||||||||||||||
| Communications Equipment – 0.0% (0.0% of Total Investments) | ||||||||||||||||||||||||||||
| $ | 550 | Nortel Networks Limited, (5) |
1.750% | 4/15/12 | N/R | $ | 16,500 | |||||||||||||||||||||
| $ | 550 | Total Convertible Bonds (cost $9,033) |
16,500 | |||||||||||||||||||||||||
| Total Long-Term Investments (cost $738,498,772) |
|
711,479,461 | ||||||||||||||||||||||||||
| Shares | Description (1) | Coupon | Value | |||||||||||||||||||||||||
| SHORT-TERM INVESTMENTS – 3.5% (2.2% of Total Investments) |
| |||||||||||||||||||||||||||
| INVESTMENT COMPANIES – 3.5% (2.2% of Total Investments) |
|
|||||||||||||||||||||||||||
| 15,948,862 | BlackRock Liquidity Funds T-Fund Portfolio, (11) |
2.082% (12) | $ | 15,948,862 | ||||||||||||||||||||||||
| Total Short-Term Investments (cost $15,948,862) |
|
15,948,862 | ||||||||||||||||||||||||||
| Total Investments (cost $754,447,634) – 159.2% |
|
727,428,323 | ||||||||||||||||||||||||||
| Borrowings – (39.1)% (13), (14) |
|
(178,800,000 | ) | |||||||||||||||||||||||||
| Term Preferred Shares, net of deferred offering costs – (18.2)% (15) |
|
(82,983,163 | ) | |||||||||||||||||||||||||
| Other Assets Less Liabilities – (1.9)% (16) |
|
(8,757,886 | ) | |||||||||||||||||||||||||
| Net Assets Applicable to Common Shares – 100% |
|
$ | 456,887,274 | |||||||||||||||||||||||||
Investments in Derivatives
Interest Rate Swaps – OTC Uncleared
| Counterparty | Notional Amount |
Fund Pay/Receive Floating Rate |
Floating Rate Index | Fixed Rate (Annualized) |
Fixed Rate Payment Frequency |
Maturity Date |
Value | Unrealized Appreciation (Depreciation) |
||||||||||||||||||||||||
| Morgan Stanley Capital Services LLC |
$ | 8,000,000 | Pay | 1-Month LIBOR | 2.250% (17) | Monthly | 12/01/23 (18) | $ | (156,262) | $ | (156,262 | ) | ||||||||||||||||||||
| Morgan Stanley Capital Services LLC |
10,000,000 | Pay | 1-Month LIBOR | 2.500 (19) | Monthly | 1/01/22 (20) | (166,347) | (166,347 | ) | |||||||||||||||||||||||
| Morgan Stanley Capital Services LLC |
21,000,000 | Pay | 1-Month LIBOR | 2.500 (21) | Monthly | 4/01/22 (22) | (407,768) | (407,768 | ) | |||||||||||||||||||||||
| Morgan Stanley Capital Services LLC |
45,000,000 | Pay | 1-Month LIBOR | 4.000 | Monthly | 1/01/27 (23) | (2,057,988) | (2,057,988 | ) | |||||||||||||||||||||||
| Total |
$ | 84,000,000 | $ | (2,788,365 | ) | $ | (2,788,365 | ) | ||||||||||||||||||||||||
Fair Value Measurements
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
| Level 1 – | Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. | |
| Level 2 – | Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.). | |
| Level 3 – | Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). |
11
| JRO | Nuveen Floating Rate Income Opportunity Fund (continued) | |
| Portfolio of Investments October 31, 2018 | ||
| (Unaudited) |
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Long-Term Investments: |
||||||||||||||||
| Variable Rate Senior Loan Interests |
$ | — | $ | 598,852,724 | $ | — | $ | 598,852,724 | ||||||||
| Corporate Bonds |
— | 95,748,939 | — | * | 95,748,939 | |||||||||||
| Common Stocks |
6,833,487 | 5,181,851 | 189,374 | 12,204,712 | ||||||||||||
| Asset-Backed Securities |
— | 3,901,495 | — | 3,901,495 | ||||||||||||
| Common Stock Rights |
— | 133,329 | 586,619 | 719,948 | ||||||||||||
| Warrants |
35,143 | — | — | 35,143 | ||||||||||||
| Convertible Bonds |
— | 16,500 | — | 16,500 | ||||||||||||
| Short-Term Investments: |
||||||||||||||||
| Investment Companies |
15,948,862 | — | — | 15,948,862 | ||||||||||||
| Investments in Derivatives: |
||||||||||||||||
| Interest Rate Swaps** |
— | (2,788,365 | ) | — | (2,788,365 | ) | ||||||||||
| Total |
$ | 22,817,492 | $ | 701,046,473 | $ | 775,993 | $ | 724,639,958 | ||||||||
| * | Value equals zero as of the end of the reporting period. |
| ** | Represents net unrealized appreciation (depreciation). |
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to recognition of market discount accretion and timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
The tables below present the cost and unrealized appreciation (depreciation) of the Fund’s investment portfolio, as determined on a federal income tax basis, as of October 31, 2018.
For purposes of this disclosure, derivative tax cost is generally the sum of any upfront fees or premiums exchanged and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting. If a particular derivative category does not disclose any tax unrealized appreciation or depreciation, the change in value of those derivatives have generally been fully realized for tax purposes.
| Tax cost of investments |
$763,116,545 | |||
| Gross unrealized: |
||||
| Appreciation |
10,565,235 | |||
| Depreciation |
(46,253,457 | ) | ||
| Net unrealized appreciation (depreciation) of investments |
$ | (35,688,222 | ) | |
| Tax cost of swaps |
$ — | |||
| Net unrealized appreciation (depreciation) on swaps |
(2,788,365 | ) |
12
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease.
| (1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. |
| (2) | Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate (Reference Rate) plus an assigned fixed rate (Spread). These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. The rate shown is the coupon as of the end of the reporting period. |
| (3) | 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. |
| (4) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
| (5) | As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records. |
| (6) | Investment, or portion of investment, represents an outstanding unfunded senior loan commitment. |
| (7) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. |
| (8) | Non-income producing; issuer has not declared a dividend within the past twelve months. |
| (9) | For fair value measurement disclosure purposes, investment classified as Level 2. |
| (10) | Variable rate security. The rate shown is the coupon as of the end of the period. |
| (11) | A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at the http://www.sec.gov. |
| (12) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. |
| (13) | Borrowings as a percentage of Total Investments is 24.6%. |
| (14) | The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives, when applicable) in the Portfolio of Investments as collateral for borrowings. |
| (15) | Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 11.4%. |
| (16) | Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC cleared and exchange-traded derivatives, when applicable. |
| (17) | Effective December 1, 2018, the fixed rate paid by the Fund will increase according to a predetermined schedule as specified in the swap contract. Additionally, this fixed rate increase will continue to occur every two years on specific dates through the swap contract’s termination date. |
| (18) | This interest rate swap has an optional early termination date beginning on December 1, 2018 and monthly thereafter through the termination date as specified in the swap contract. |
| (19) | Effective January 1, 2020, the fixed rate paid by the Fund will increase according to a predetermined schedule as specified in the swap contract. Additionally, this fixed rate increase will continue to occur every twelve months on specific dates through the swap contract’s termination date. |
| (20) | This interest rate swap has an optional early termination date beginning on January 1, 2019 and monthly thereafter through the termination date as specified in the swap contract. |
| (21) | Effective April 1, 2020, the fixed rate paid by the Fund will increase according to a predetermined schedule as specified in the swap contract. Additionally, this fixed rate increase will continue to occur every twelve months on specific dates through the swap contract’s termination date. |
| (22) | This interest rate swap has an optional early termination date beginning on July 1, 2019 and monthly thereafter through the termination date as specified in the swap contract. |
| (23) | This interest rate swap has an optional early termination date beginning on January 1, 2021 and monthly thereafter through the termination date as specified in the swap contract. |
| 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. |
| DD1 | Portion of investment purchased on a delayed delivery basis. |
| LIBOR | London Inter-Bank Offered Rate |
| N/A | Not Applicable |
| PIK | Payment-in-kind (“PIK”) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period. |
| 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. |
13
Item 2. Controls and Procedures.
| a. | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
| b. | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| (Registrant) | Nuveen Floating Rate Income Opportunity Fund | |||
| By (Signature and Title) | /s/ Gifford R. Zimmerman | |||
| Gifford R. Zimmerman | ||||
| Vice President and Secretary | ||||
Date: December 28, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By (Signature and Title) | /s/ Cedric H. Antosiewicz | |||
| Cedric H. Antosiewicz | ||||
| Chief Administrative Officer (principal executive officer) | ||||
| Date: December 28, 2018 | ||||
| By (Signature and Title) | /s/ Stephen D. Foy | |||
| Stephen D. Foy | ||||
| Vice President and Controller (principal financial officer) | ||||
| Date: December 28, 2018 | ||||