Edgar Filing: NUVEEN DIVERSIFIED DIVIDEND & INCOME FUND

nvq

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 811-21407

Nuveen Diversified Dividend and Income Fund

(Exact name of registrant as specified in charter)

333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)

Kevin J. McCarthy—Vice President and Secretary
333 West Wacker Drive, Chicago, Illinois 60606
(Name and address of agent for service)

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

Date of fiscal year end: 12/31

Date of reporting period: 3/31/2010

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

Portfolio of Investments (Unaudited)

Nuveen Diversified Dividend and Income Fund (JDD)
March 31, 2010


Shares				Description (1)								Value


				Common Stocks – 33.0% (25.5% of Total Investments)


				Aerospace & Defense – 2.1%

	30,500			Lockheed Martin Corporation								$	2,538,210
	40,600			Raytheon Company									2,319,072

				Total Aerospace & Defense									4,857,282


				Building Products – 0.7%

	35,400			Masonite Worldwide Holdings, (11)									1,526,625


				Commercial Banks – 1.1%

	76,000			Banco Santander Central S.A.									1,008,520
	50,100			Wells Fargo & Company									1,559,112

				Total Commercial Banks									2,567,632


				Commercial Services & Supplies – 1.1%

	103,600			Pitney Bowes Inc.									2,533,020


				Communications Equipment – 1.0%

	332,000			Motorola, Inc., (10)									2,330,640


				Containers & Packaging – 0.3%

	32,200			Packaging Corp. of America									792,442


				Diversified Financial Services – 1.6%

	714,500			Citigroup Inc., (10)									2,893,725
	16,700			JPMorgan Chase & Co.									747,325

				Total Diversified Financial Services									3,641,050


				Diversified Telecommunication Services – 1.7%

	49,000			AT&T Inc.									1,266,160
	103,000			Frontier Communications Corporation									766,320
	60,000			Verizon Communications Inc.									1,861,200

				Total Diversified Telecommunication Services									3,893,680


				Electric Utilities – 0.4%

	25,900			EDP – Energias de Portugal, S.A., Sponsored ADR, (11)									1,031,387


				Food & Staples Retailing – 0.6%

	68,000			Kroger Co.									1,472,880


				Household Products – 1.0%

	37,200			Kimberly-Clark Corporation									2,339,136


				Industrial Conglomerates – 0.6%

	80,000			General Electric Company									1,456,000


				Insurance – 6.4%

	154,000			Genworth Financial Inc., Class A, (10)									2,824,360
	121,100			Hartford Financial Services Group, Inc.									3,441,662
	37,000			Loews Corporation									1,379,360
	61,800			MetLife, Inc.									2,678,412
	115,900			Symetra Financial Corporation									1,527,562
	60,500			Travelers Companies, Inc.									3,263,370

				Total Insurance									15,114,726


				Machinery – 1.5%

	25,300			Caterpillar Inc.									1,590,105
	37,600			Ingersoll Rand Company Limited, Class A									1,311,112
	26,328			Trinity Industries Inc.									525,507

				Total Machinery									3,426,724


				Media – 0.1%

	3,577			SuperMedia Inc.									146,299


				Metals & Mining – 1.8%

	41,000			AngloGold Ashanti Limited, Sponsored ADR									1,555,950
	70,300			Barrick Gold Corporation									2,695,302

				Total Metals & Mining									4,251,252


				Oil, Gas & Consumable Fuels – 3.3%

	50,500			ConocoPhillips									2,584,085
	41,300			Eni S.p.A., Sponsored ADR									1,938,209
	14,000			Exxon Mobil Corporation									937,720
	41,000			Total S.A., Sponsored ADR									2,378,820

				Total Oil, Gas & Consumable Fuels									7,838,834


				Pharmaceuticals – 4.1%

	43,400			GlaxoSmithKline PLC, Sponsored ADR									1,671,768
	85,000			Merck & Company Inc.									3,174,750
	117,800			Pfizer Inc.									2,020,270
	76,600			Sanofi-Aventis, ADR									2,861,776

				Total Pharmaceuticals									9,728,564


				Road & Rail – 0.5%

	16,500			Union Pacific Corporation									1,209,450


				Software – 1.9%

	127,700			CA Inc.									2,997,119
	46,400			Microsoft Corporation									1,358,128

				Total Software									4,355,247


				Tobacco – 1.2%

	55,300			Philip Morris International									2,884,448

				Total Common Stocks (cost $68,832,281)									77,397,318


Shares				Description (1)								Value


				Real Estate Investment Trust Common Stocks – 32.3% (24.9% of Total Investments)


				Diversified – 1.3%

	41,391			Vornado Realty Trust								$	3,133,299


				Industrial – 1.3%

	115,450			AMB Property Corp.									3,144,858


				Office – 6.6%

	42,250			Boston Properties, Inc.									3,187,340
	79,900			Corporate Office Properties									3,206,387
	213,700			Douglas Emmett Inc.									3,284,569
	84,750			Mack-Cali Realty Corporation									2,987,437
	48,600			SL Green Realty Corporation									2,783,322

				Total Office									15,449,055


				Residential – 5.6%

	174,326			Apartment Investment & Management Company, Class A									3,209,342
	37,525			AvalonBay Communities, Inc.									3,240,284
	90,550			Equity Residential									3,545,032
	34,700			Essex Property Trust Inc.									3,121,265

				Total Residential									13,115,923


				Retail – 7.0%

	44,300			Federal Realty Investment Trust									3,225,483
	77,690			Macerich Company									2,976,312
	88,850			Saul Centers Inc.									3,678,390
	38,035			Simon Property Group, Inc.									3,191,136
	82,450			Taubman Centers Inc.									3,291,404

				Total Retail									16,362,725


				Specialized – 10.5%

	252,600			Extra Space Storage Inc.									3,202,968
	92,300			Health Care Property Investors Inc.									3,045,900
	63,900			Health Care REIT, Inc.									2,890,197
	235,292			Host Hotels & Resorts Inc.									3,447,028
	37,124			Public Storage, Inc.									3,415,037
	137,250			Senior Housing Properties Trust									3,040,088
	236,100			Sunstone Hotel Investors Inc.									2,637,237
	61,200			Ventas Inc.									2,905,776

				Total Specialized									24,584,231

				Total Real Estate Investment Trust Common Stocks (cost $55,562,112)									75,790,091


Shares				Description (1)	Coupon					Ratings (2)		Value


				Capital Preferred Securities – 0.7% (0.5% of Total Investments)


				Food Products – 0.7%

	15			HJ Heinz Finance Company, 144A		8.000%				BB+		$	1,586,719

				Total Capital Preferred Securities (cost $1,310,000)									1,586,719


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


				Variable Rate Senior Loan Interests – 32.1% (24.8% of Total Investments) (4)


				Chemicals – 1.7%

$	400			Celanese US Holdings LLC, Credit Linked Deposit		1.979%			4/02/14	BB+		$	394,500
	907			Celanese US Holdings LLC, Term Loan		2.001%			4/02/14	BB+			887,817
	946			Hexion Specialty Chemicals, Inc., Term Loan C4		2.500%			5/05/13	Ba3			896,704
	1,871			Rockwood Specialties Group, Inc., Term Loan H		6.000%			7/30/12	Ba2			1,883,964

	4,124			Total Chemicals									4,062,985


				Commercial Services & Supplies – 0.4%

	998			Universal City Development Partners, Ltd., Term Loan		6.500%			11/06/14	Ba2			1,008,921


				Diversified Telecommunication Services – 2.0%

	331			Intelsat, Tranche B2, Term Loan A		2.728%			1/03/14	BB-			322,704
	331			Intelsat, Tranche B2, Term Loan B		2.728%			1/03/14	BB-			322,605
	331			Intelsat, Tranche B2, Term Loan C		2.728%			1/03/14	BB-			322,605
	1,911			Intelsat, Tranche B2, Term Loan		2.728%			7/01/13	BB-			1,862,645
	1,930			MetroPCS Wireless, Inc., Term Loan		2.500%			11/03/13	Ba1			1,895,152

	4,834			Total Diversified Telecommunication Services									4,725,711


				Electric Utilities – 1.5%

	777			Dynegy Holdings, Inc., Delayed Term Loan		4.000%			4/02/13	Ba2			766,004
	216			Dynegy Holdings, Inc., Term Loan		4.000%			4/02/13	Ba2			213,122
	1,950			TXU Corporation, Term Loan B2		3.730%			10/10/14		B+		1,606,178
	977			TXU Corporation, Term Loan B3		3.730%			10/10/14		B+		796,136

	3,920			Total Electric Utilities									3,381,440


				Electronic Equipment & Instruments – 0.4%

	963			Sensata Technologies B.V., Term Loan		1.999%			4/27/13	BB-			926,005


				Health Care Equipment & Supplies – 1.2%

	1,960			Biomet, Inc., Term Loan		3.282%			3/25/15	BB-			1,933,268
	989			Renal Advantage, Inc., Term Loan		2.756%			10/06/12		N/R		959,234

	2,949			Total Health Care Equipment & Supplies									2,892,502


				Health Care Providers & Services – 5.5%

	97			Community Health Systems, Inc., Delayed Term Loan		2.502%			7/25/14	BB			94,755
	1,896			Community Health Systems, Inc., Term Loan		2.502%			7/25/14	BB			1,850,362
	1,047			Fresenius SE, Term Loan C1		4.500%			9/10/14	BBB-			1,060,040
	598			Fresenius SE, Term Loan C2		4.500%			9/10/14	BBB-			605,522
	2,345			HCA, Inc., Term Loan		2.540%			11/18/13	BB			2,291,308
	1,820			Health Management Associates, Inc., Term Loan		2.040%			2/28/14	BB-			1,767,818
	1,915			Quintiles Transnational Corporation, Term Loan B		2.300%			3/29/13	BB			1,867,766
	1,995			Rehabcare Group, Inc., Term Loan B		6.000%			11/24/15	BB			2,016,197
	231			United Surgical Partners International, Inc., Delayed Term Loan		2.250%			4/19/14	Ba3			223,814
	1,220			United Surgical Partners International, Inc., Term Loan		2.250%			4/19/14	Ba3			1,181,679

	13,164			Total Health Care Providers & Services									12,959,261


				Hotels, Restaurants & Leisure – 4.8%

	1,920			24 Hour Fitness Worldwide, Inc., Term Loan B		2.755%			6/08/12	Ba3			1,915,200
	680			CBRL Group, Inc., Term Loan B1		1.750%			4/27/13	BB-			674,783
	24			CBRL Group, Inc., Term Loan B2		1.750%			4/26/13	BB-			24,290
	2,432			Cedar Fair LP, Extended US Term Loan		4.248%			8/30/14	BB-			2,420,901
	994			Reynolds Group Holdings, Inc., US Term Loan		6.250%			11/05/15	BB-			1,005,033
	1,995			SW Acquisitions Co., Inc., Term Loan		5.750%			6/01/16	BB+			2,014,328
	89			Travelport LLC, Letter of Credit		2.790%			8/23/13	Ba3			86,694
	445			Travelport LLC, Term Loan		2.790%			8/23/13	Ba3			432,065
	590			Venetian Casino Resort LLC, Delayed Term Loan		2.050%			5/23/14		B-		541,235
	2,334			Venetian Casino Resort LLC, Term Loan		2.050%			5/23/14		B-		2,142,904

	11,503			Total Hotels, Restaurants & Leisure									11,257,433


				Independent Power Producers & Energy Traders – 1.3%

	750			KGEN LLC, Synthetic Letter of Credit		1.750%			2/05/14	BB			706,875
	1,213			KGEN LLC, Term Loan B		2.000%			2/05/14	BB			1,142,781
	469			NRG Energy, Inc., Credit Linked Deposit		0.190%			2/01/13	Baa3			459,439
	710			NRG Energy, Inc., Term Loan		1.998%			2/01/13	Baa3			695,804

	3,142			Total Independent Power Producers & Energy Traders									3,004,899


				Insurance – 0.2%

	498			Conseco, Inc., Term Loan		7.500%			10/10/13		B-		484,147


				IT Services – 1.6%

	1,950			First Data Corporation, Term Loan B1		3.000%			9/24/14		B+		1,732,066
	1,991			SunGard Data Systems, Inc., Term Loan B		1.979%			2/28/14	BB			1,927,058

	3,941			Total IT Services									3,659,124


				Machinery – 0.3%

	693			Manitowoc Company, Term Loan		7.500%			11/06/14	BB			694,950


				Media – 6.9%

	2,156			Charter Communications Operating Holdings LLC, Term Loan		2.310%			3/06/14	BB+			2,086,329
	454			Discovery Communications Holdings LLC, Term Loan		2.290%			5/14/14	Baa3			453,752
	1,832			Emmis Operating Company, Term Loan		4.288%			11/01/13	Caa2			1,589,524
	2,488			Mediacom Broadband LLC, Tranche D, Term Loan		5.500%			3/31/17	BB-			2,512,374
	958			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B, (7)		18.250%			4/08/12		N/R		461,730
	586			Nielsen Finance LLC, Term Loan A		2.229%			8/09/13	Ba3			563,201
	1,250			Nielsen Finance LLC, Term Loan B		3.979%			5/02/16	Ba3			1,230,004
	772			SuperMedia, Term Loan		8.000%			12/31/15		B-		725,934
	1,975			Tribune Company, Term Loan B, (5), (6)		3.000%			6/04/14	Ca			1,262,355
	341			Tribune Company, Term Loan X, (5), (6)		2.750%			N/A	Ca			215,210
	2,000			Univision Communications, Inc., Term Loan		2.540%			9/29/14		B2		1,786,494
	2,000			UPC Broadband Holding BV, Term Loan N		2.180%			12/31/14	Ba3			1,941,250
	1,690			Yell Group PLC, Term Loan		3.998%			7/31/14		N/R		1,284,201

	18,502			Total Media									16,112,358


				Pharmaceuticals – 2.0%

	2,096			Mylan Laboratories, Inc., Term Loan		3.551%			10/02/14	BB+			2,101,240
	1,568			Warner Chilcott Corporation, Add on Term Loan		5.750%			4/30/15	BB+			1,574,071
	496			Warner Chilcott Corporation, Term Loan A		5.500%			10/30/14	BB+			497,324
	228			Warner Chilcott Corporation, Term Loan B1		5.750%			4/30/15	BB+			229,085
	380			Warner Chilcott Corporation, Term Loan B2		5.750%			4/30/15	BB+			381,468

	4,768			Total Pharmaceuticals									4,783,188


				Real Estate Management & Development – 0.5%

	1,184			LNR Property Corporation, Term Loan B		3.480%			7/12/11	CCC			1,088,206


				Road & Rail – 1.4%

	266			Hertz Corporation, Letter of Credit		2.021%			12/21/12	Ba1			263,496
	1,443			Hertz Corporation, Term Loan		1.987%			12/21/12	Ba1			1,428,337
	1,757			Swift Transportation Company, Inc., Term Loan		8.250%			5/10/14		B-		1,686,167

	3,466			Total Road & Rail									3,378,000


				Trading Companies & Distributors – 0.4%

	192			Brenntag Holdings GmbH & Co. KG, Acquisition Facility		2.007%			1/20/14	BB-			189,021
	786			Brenntag Holdings GmbH & Co. KG, Facility B2		1.997%			1/20/14	BB-			774,158

	978			Total Trading Companies & Distributors									963,179

$	79,627			Total Variable Rate Senior Loan Interests (cost $78,766,447)									75,382,309


Principal
Amount (000)(8)				Description (1)	Coupon			Maturity		Ratings (2)		Value


				Emerging Markets Debt and Foreign Corporate Bonds – 26.0% (20.0% of Total Investments)


				Argentina – 1.6%

$	210			Arcos Dorados S.A., 144A		7.500%			10/01/19	BBB-		$	218,400
	250			City of Buenos Aires, Argentina, 144A, Wl/DD		12.500%			4/06/15		B2		259,982
	1,085			Republic of Argentina		8.280%			12/31/33		B-		819,108
	1,703		EUR	Republic of Argentina		7.820%			12/31/33		B-		1,495,263
	865			Republic of Argentina		2.500%			12/31/38		B-		314,860
	1,720		EUR	Republic of Argentina		2.260%			12/31/38		B-		714,359

				Total Argentina									3,821,972


				Bahrain – 0.2%

	430			Kingdom of Bahrain, Wl/DD		5.500%			3/31/20		A		428,266


				Brazil – 1.6%

	280			Banco do Brasil, 144A		8.500%			10/20/49	Baa2			312,200
	100			Banco Nacional de Desenvolvimento Economico e Social, Reg S		6.369%			6/16/18	BBB-			106,500
	120			BFF International Limited, 144A		7.250%			1/28/20	BB+			122,400
	225			Cia Brasileira de Bebidas		8.750%			9/15/13	BBB+			266,906
	695		BRL	Companhia Energetica de Sao Paulo, 144A		9.750%			1/15/15	Ba2			499,606
	120			Federative Republic of Brazil		7.875%			3/07/15	BBB-			142,500
	60			Federative Republic of Brazil		10.125%			5/15/27	BBB-			88,350
	335			Federative Republic of Brazil		11.000%			8/17/40	BBB-			450,072
	265			Globo Comunicacao Participacoes, S.A., 144A		7.250%			4/26/22	BBB-			280,237
	70		BRL	National Treasury Note of Brazil		10.000%			1/01/12	BBB			393,067
	155			Petrobras International Finance Company		8.375%			12/10/18	Baa1			188,136
	510			Petrobras International Finance Company		7.875%			3/15/19	Baa1			599,025
	215			Rearden G Holdings		7.875%			3/30/20	BB-			218,763
	150			Telemar Norte Leste S.A., 144A		9.500%			4/23/19	Baa2			178,875

				Total Brazil									3,846,637


				Canada – 0.1%

	225			Pacific Rubiales Energy Corporation, 144A		8.750%			11/10/16		B+		245,250


				Cayman Islands – 0.2%

	285			Fibria Overseas Finance, 144A		9.250%			10/30/19	Ba1			326,325
	180			Minerva Overseas II Limited, 144A		10.875%			11/15/19		B-		195,075

				Total Cayman Islands									521,400


				Chile – 0.2%

	450			Coporacion Nacional del Cobre de Chile, Reg S		5.625%			9/21/35		A1		433,936
	55			Empresa Nacional del Petroleo, 144A		4.875%			3/15/14		A3		55,736

				Total Chile									489,672


				Colombia – 1.4%

	277,000		COP	Bogota Distrito Capital, Reg S		9.750%			7/26/28	BBB-			153,393
	125			Colbun S.A., 144A		6.000%			1/21/20	BBB-			126,156
	645			Republic of Colombia		11.750%			2/25/20	BBB-			948,150
	2,029,000		COP	Republic of Colombia		9.850%			6/28/27	BB+			1,245,336
	325			Republic of Colombia		10.375%			1/28/33	BBB-			465,562
	425			Republic of Colombia		6.125%			1/18/41	BBB-			408,000

				Total Colombia									3,346,597


				Costa Rica – 0.2%

	285			Republic of Costa Rica, Reg S		9.995%			8/01/20	BB+			377,625


				Croatia – 0.3%

	185		EUR	Republic of Croatia		6.500%			1/05/15	BBB			270,485
	325			Republic of Croatia, 144A		6.750%			11/05/19	BBB			358,282

				Total Croatia									628,767


				Dominican Republic – 0.9%

	1,831			Dominican Republic, Reg S		9.040%			1/23/18		B		2,022,964


				Ecuador – 0.1%

	180			Republic of Ecuador, Reg S		9.375%			12/15/15	CCC+			168,750


				El Salvador – 0.9%

	866			Republic of El Salvador, Reg S		7.750%			1/24/23	Baa3			961,260
	510			Republic of El Salvador, Reg S		7.625%			9/21/34	Baa3			563,550
	500			Republic of El Salvador, Reg S		8.250%			4/10/32	Baa3			555,625

				Total El Salvador									2,080,435


				Gabon – 0.5%

	1,135			Republic of Gabon, Reg S		8.200%			12/12/17	BB-			1,257,580


				Ghana – 0.8%

	1,610			Republic of Ghana, Reg S		8.500%			10/04/17		B+		1,787,100


				Hungary – 0.3%

	620			Republic of Hungary, Government Bond		6.250%			1/29/20	Baa1			661,970
	31,000		HUF	Republic of Hungary, Treasury Bill		6.000%			11/24/23	BBB-			145,730

				Total Hungary									807,700


				India – 0.1%

	255			Cemex Finance LLC, 144A		9.500%			12/14/16		B		265,200


				Indonesia – 0.6%

	135			Republic of Indonesia, Reg S		10.375%			5/04/14	BB			168,413
	130			Republic of Indonesia, Reg S		7.250%			4/20/15	BB			147,808
	110			Republic of Indonesia, Reg S		6.875%			3/09/17	BB			122,942
	710			Republic of Indonesia, Reg S		11.625%			3/04/19	BB			1,024,175

				Total Indonesia									1,463,338


				Israel – 0.2%

	310			Israel Electric Corporation Limited, 144A		9.375%			1/28/20	BBB			386,483


				Kazakhstan – 1.5%

	400			Kazakhstan Development Bank		6.500%			6/03/20	Baa2			378,608
	530			KazMuniaGaz Finance Subsidiary, 144A		11.750%			1/23/15	Baa2			683,700
	465			KazMuniaGaz Finance Subsidiary, 144A		9.125%			7/02/18	Baa2			565,556
	1,295			KazMuniaGaz Finance Subsidiary, Reg S		9.125%			7/02/18	Baa1			1,583,137
	214			Tengizchevroil LLP, 144A		6.124%			11/15/14	BBB-			229,755

				Total Kazakhstan									3,440,756


				Lithuania – 0.5%

	1,110			Republic of Lithuania, 144A		7.375%			2/11/20	Baa1			1,220,502


				Malaysia – 0.6%

	450			Penerbangan Malaysia Berhad, Reg S		5.625%			3/15/16		A-		488,285
	275			Pertoliam Nasional Berhad, Reg S		7.625%			10/15/26		A-		328,992
	565			Petronas Capital Limited, 144A		5.250%			8/12/19		A1		574,860

				Total Malaysia									1,392,137


				Mexico – 1.1%

	80			Banco Mercantil del Norte, Reg S		6.135%			10/13/16		A3		79,620
	221			Conproca SA, Reg S		12.000%			12/16/10	BBB			227,958
	2,785		MXN	Mexico Bonos de DeSarrollo		7.250%			12/15/16		A		225,661
	2,825		MXN	Mexico Bonos de DeSarrollo		7.750%			12/14/17		A		233,289
	100			Pemex Project Funding Master Trust		5.750%			3/01/18	Baa1			103,415
	4,500		MXN	United Mexican States		8.000%			12/19/13		A		384,022
	8,000		MXN	United Mexican States		9.500%			12/18/14		A		720,105
	150,000		ITL	United Mexican States, (9)		11.000%			5/08/17	Baa1			144,917
	232			United Mexican States		6.050%			1/11/40	Baa1			232,580
	150			Urbi Desarrollos Urbanos S.A.B. de C.V, 144A		9.500%			1/21/20	BB-			163,125

				Total Mexico									2,514,692


				Morocco – 0.1%

	105		EUR	Kingdom of Morocco, Reg S		5.375%			6/27/17	BBB-			147,929


				Netherlands – 0.9%

	340			Halyk Savings Bank of Kazakhstan, Reg S		7.250%			5/03/17	Ba2			333,625
	454			Intergas Finance B.V, Reg S		6.375%			5/14/17	Baa1			469,890
	375			Kazakhstan Temir Zholy JSC, Reg S		7.000%			5/13/16	Baa3			384,825
	105			Majapahit Holdings BV, 144A		8.000%			8/07/19	BB			115,894
	515			Majapahit Holdings BV, Reg S		8.000%			8/07/19	BB			568,431
	240			Voto Votorantim Overseas Trading Operations, 144A		6.625%			9/25/19	BBB			241,800

				Total Netherlands									2,114,465


				Pakistan – 0.9%

	585			Islamic Republic of Pakistan, Reg S		7.125%			3/31/16		B-		550,287
	580			Islamic Republic of Pakistan, Reg S		6.875%			6/01/17		B-		530,700
	1,175			Islamic Republic of Pakistan, Reg S		7.875%			3/30/36		B1		949,399

				Total Pakistan									2,030,386


				Panama – 0.5%

	180			AES Panama, Reg S		6.350%			12/21/16	BB+			182,410
	245			Republic of Panama		7.250%			3/15/15	BB+			281,137
	620			Republic of Panama		8.875%			9/30/27	BB+			802,900

				Total Panama									1,266,447


				Peru – 0.8%

	280			Banco Credito del Peru, 144A		9.750%			11/06/69	BB			306,600
	285			Republic of Peru		9.875%			2/06/15	BBB-			361,950
	230			Republic of Peru		8.375%			5/03/16	BBB-			280,945
	260			Republic of Peru		7.350%			7/21/25	BBB-			302,900
	535			Republic of Peru		8.750%			11/21/33	BBB-			711,550

				Total Peru									1,963,945


				Philippines – 0.7%

	380			National Power Corporation		9.625%			5/15/28	BB-			469,300
	130			Republic of the Philippines		9.875%			1/15/19	BB-			171,275
	200			Republic of the Philippines		6.500%			1/20/20	BB-			216,500
	340			Republic of the Philippines		10.625%			3/16/25	BB-			488,750
	50			Republic of the Philippines		9.500%			2/02/30	BB-			67,000
	145			The Power Sector Assets and Liabilities Management Corporation of the Philippines, 144A		7.390%			12/02/24	BB-			153,337
	130			The Power Sector Assets and Liabilities Management Corporation of the Philippines, Reg S		7.250%			5/27/19	BB-			141,552

				Total Philippines									1,707,714


				Poland – 0.0%

	45		EUR	Republic of Poland		5.250%			1/20/25		A2		61,617


				Qatar – 0.2%

	300			Commercial Bank of Qatar, 144A		7.500%			11/18/19		A2		312,000
	230			State of Qatar, 144A		6.400%			1/20/40	Aa2			241,500

				Total Qatar									553,500


				Russian Federation – 1.2%

	310			Alrosa Finance S.A., Reg S		8.875%			11/17/14	Ba3			339,062
	505			Gaz Capital S.A., Reg S		9.250%			4/23/19	Baa1			599,687
	635			Gaz Capital S.A., 144A		9.250%			4/23/19	Baa1			754,062
	325			Gaz Capital S.A., Reg S		8.625%			4/28/34		A3		378,657
	156			Russian Federation, Reg S		7.500%			3/31/30	Baa1			183,199
	30			Russian Ministry of Finance, Reg S		12.750%			6/24/28	BBB			53,403
	340			Transcapitalinvest LP, Reg S		5.670%			3/05/14		A2		357,000
	155			VTB Capital S.A., 144A		6.465%			3/04/15	Baa1			159,262

				Total Russian Federation									2,824,332


				Serbia – 0.9%

	1,375			Republic of Serbia, 144A		6.750%			11/01/24	BB-			1,357,812
	845			Republic of Serbia, Reg S		6.750%			11/01/24	BB-			845,000

				Total Serbia									2,202,812


				South Africa – 1.2%

	1,275			Republic of South Africa		7.375%			4/25/12		A3		1,404,157
	360			Republic of South Africa		6.500%			6/02/14		A3		398,250
	390			Republic of South Africa		6.875%			5/27/19		A3		437,287
	585			Republic of South Africa		5.500%			3/09/20		A3		595,237

				Total South Africa									2,834,931


				South Korea – 0.2%

	135			Korea Development Bank		8.000%			1/23/14		A		155,817
	115			National Agricutlural Cooperative Federation, Reg S		5.000%			9/30/14		A		119,389
	140			Republic of Korea		5.750%			4/16/14		A		153,168

				Total South Korea									428,374


				Trinidad – 0.1%

	185			Petroleum Company of Trinidad & Tobago Limited, 144A		9.750%			8/14/19	BBB			211,363


				Tunisia – 0.4%

	715			Banque de Tunisie		7.375%			4/25/12	BBB			790,969
	110		EUR	Banque de Tunisie, Reg S		4.500%			6/22/20	BBB			145,229

				Total Tunisia									936,198


				Turkey – 0.7%

	135			Republic of Turkey, Government Bond		7.250%			3/15/15	BB			152,388
	475			Republic of Turkey, Government Bond		7.250%			3/05/38	BB			499,938
	340			Republic of Turkey, Government Bond		6.750%			5/30/40	BB			335,750
	765		TRY	Republic of Turkey		12.000%			8/14/13	Baa3			659,154

				Total Turkey									1,647,230


				Ukraine – 1.0%

	660			Republic of Ukraine, Reg S		6.875%			3/04/11		B1		666,006
	325			Republic of Ukraine, Reg S		6.385%			6/26/12		B2		327,470
	510			Republic of Ukraine, Reg S		7.650%			6/11/13		B1		521,016
	595		EUR	Republic of Ukraine, Reg S		4.950%			10/13/15		B2		725,363

				Total Ukraine									2,239,855


				United Arab Emirates – 0.4%

	750			Emirate of Abu Dhabi, 144A		5.500%			4/08/14	AA			816,723


				Uruguay – 1.0%

	3,068		UYU	Republic of Uruguay		5.000%			9/14/18	BB-			168,106
	360			Republic of Uruguay		7.875%			1/15/33	BB			419,400
	1,447			Republic of Uruguay		7.625%			3/21/36	BB			1,645,568

				Total Uruguay									2,233,074


				Venezuela – 0.9%

	110			Republic of Venezuela, Reg S		7.750%			10/13/19	BB-			78,925
	575			Republic of Venezuela, Reg S		9.000%			5/07/23	BB-			429,813
	205			Republic of Venezuela, Reg S		8.250%			10/13/24	BB-			142,988
	110			Republic of Venezuela		10.750%			9/19/13	BB-			108,075
	350			Republic of Venezuela		8.500%			10/08/14	BB-			306,250
	660			Republic of Venezuela		7.650%			4/21/25	BB-			432,300
	105			Republic of Venezuela		9.250%			9/15/27	BB-			82,688
	565			Republic of Venezuela		9.375%			1/13/34	BB-			416,688
	305			Republic of Venezuela, Reg S		7.000%			3/31/38	BB-			182,238

				Total Venezuela									2,179,965

				Total Emerging Markets Debt and Foreign Corporate Bonds (cost $54,004,503)									60,914,683


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


				Short-Term Investments – 5.6% (4.3% of Total Investments)

$	13,163			Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/10, repurchase price $13,163,406, collateralized by $13,395,000 U.S. Treasury Notes, 2.375%, due 8/31/14, value $13,428,488		0.000%			4/01/10			$	13,163,406

				Total Short-Term Investments (cost $13,163,406)									13,163,406

				Total Investments (cost $271,638,749) – 129.7%									304,234,526

				Borrowings – (27.7)% (12)									(65,000,000	)

				Other Assets Less Liabilities – (2.0)%									(4,702,137	)

				Net Assets Applicable to Common Shares – 100%								$	234,532,389


				Investments in Derivatives

Number of					Notional			Expiration		Strike
Contracts				Type	Amount (13)			Date		Price		Value


				Call Options Written

	(410	)		Anglogold Limited	$	(1,640,000	)		10/16/10	$	40.0	$	(135,300	)
	(3,090	)		Citigroup Inc.		(1,236,000	)		9/18/10		4.0		(143,685	)
	(1,540	)		Genworth Financial Inc.		(2,618,000	)		9/18/10		17.0		(447,370	)
	(165	)		Union Pacific Corporation		(1,237,500	)		8/21/10		75.0		(62,700	)

	(5,205	)		Total Call Options Written (premiums received $612,662)		(6,731,500	)					$	(789,055	)

Forward Foreign Currency Exchange Contracts outstanding at March 31, 2010:


								Unrealized
								Appreciation
	Amount		In Exchange For	Amount		Settlement		(Depreciation)
Currency Contracts to Deliver	(Local Currency)		Currency	(Local Currency)		Date		(U.S. Dollars)

Brazilian Real		110,000	U.S. Dollar		60,947		6/16/10	$	21
Brazilian Real		2,420,000	U.S. Dollar		1,343,996		6/16/10		3,623
Colombian Peso		2,763,823,000	U.S. Dollar		1,431,291		4/30/10		(5,454	)
Euro		2,345,000	U.S. Dollar		3,213,963		6/16/10		46,547
Euro		140,000	U.S. Dollar		189,328		6/16/10		228
Euro		135,000	U.S. Dollar		184,144		6/16/10		1,798
Euro		46,000	U.S. Dollar		61,729		6/16/10		(403	)
Euro		26,000	U.S. Dollar		34,565		6/16/10		(553	)
Hungarian Forint		23,700,000	U.S. Dollar		120,482		6/16/10		912
Mexican Peso		9,066,000	U.S. Dollar		716,992		6/16/10		(10,837	)
Mexican Peso		1,174,000	U.S. Dollar		92,169		6/16/10		(2,081	)
Mexican Peso		1,173,000	U.S. Dollar		92,110		6/16/10		(2,060	)
Turkish Lira		950,000	U.S. Dollar		606,138		6/16/10		(11,807	)
U.S. Dollar		381,525	Brazilian Real		698,000		6/16/10		5,079
U.S. Dollar		197,694	Brazilian Real		360,000		6/16/10		1,701
U.S. Dollar		309,910	Indian Rupee		14,135,000		4/30/10		4,285
U.S. Dollar		309,774	Indian Rupee		14,135,000		4/30/10		4,421
U.S. Dollar		608,498	Israeli Shekel		2,270,000		6/16/10		5,283
U.S. Dollar		467,235	Kazakhstan Tenge		68,450,000		3/10/11		(863	)
U.S. Dollar		155,668	Kazakhstan Tenge		22,343,000		7/13/10		(3,485	)
U.S. Dollar		118,089	Kazakhstan Tenge		16,993,000		7/12/10		(2,347	)
U.S. Dollar		37,044	Kazakhstan Tenge		5,364,000		7/12/10		(509	)
U.S. Dollar		105,100	Ukraine Hryvna		1,051,000		7/22/10		23,048
U.S. Dollar		105,034	Ukraine Hryvna		1,050,341		7/22/10		23,033
U.S. Dollar		994,877	Yuan Renminbi		6,681,000		9/28/10		(4,894	)
U.S. Dollar		255,804	Yuan Renminbi		1,719,000		9/28/10		(1,084	)
Ukraine Hryvna		1,261,000	U.S. Dollar		120,095		7/22/10		(33,658	)
Ukraine Hryvna		840,341	U.S. Dollar		87,536		7/22/10		(14,927	)

								$	25,017

Fair Value Measurements

In determining the value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:

Level 1 –		Quoted prices in active markets for identical securities.

Level 2 –		Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 –		Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodology 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 March 31, 2010:


	Level 1			Level 2		Level 3		Total

Investments:
Common Stocks*	$	74,839,306		$	2,558,012	$	—	$	77,397,318
REIT Common Stocks		75,790,091			—		—		75,790,091
Preferred Securities**		—			1,586,719		—		1,586,719
Variable Rate Senior Loan Interests		—			75,382,309		—		75,382,309
Emerging Markets Debt and Foreign Corporate Bonds		—			60,914,683		—		60,914,683
Short-Term Investments		13,163,406			—		—		13,163,406
Derivatives:
Call Options Written		(789,055	)		—		—		(789,055	)
Forward Foreign Currency Exchange Contracts ***		—			25,017		—		25,017

Total	$	163,003,748		$	140,466,740	$	—	$	303,470,488


*		Refer to the Fund’s Portfolio of Investments for industry breakdown of Common Stocks classified as Level 2.

**		Preferred Securities includes Convertible Preferred Securities, $25 Par (or similar) Preferred Securities and Capital Preferred Securities held by the Fund at the end of the reporting period, if any.

***		Represents net unrealized appreciation (depreciation).

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


	Level 3
	Emerging Markets
	Debt and Foreign
	Corporate Bonds

Balance at beginning of period	$	229,331
Gains (losses):
Net realized gains (losses)		—
Net change in unrealized appreciation (depreciation)		(1,373	)
Net purchases at cost (sales at proceeds)		—
Net discounts (premiums)		—
Net transfers into (out of) at end of period fair value		(227,958	)

Balance at end of period	$	—

Derivative Instruments and Hedging Activities

The Fund records derivative instruments at fair value with changes in fair value recognized in the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are considered to be non-hedge transactions for financial reporting purposes.

The table below presents the fair value of all derivative instruments held by the Fund as of March 31, 2010, the location of these instruments on the Statement of Assets and Liabilities, and the primary underlying risk exposure.

Location on the Statement of Assets and Liabilities

Underlying

Derivative

Asset Derivatives

Liability Derivatives

Risk

Instrument

Location

Value

Location

Value

Foreign Currency
Exchange Rate

Forward Foreign Currency
Exchange Contracts

Unrealized appreciation on
forward foreign currency
exchange contracts

119,979

Unrealized depreciation on
forward foreign currency
exchange contracts

94,962

Equity Price

Options

—

Call options written, at value

789,055

Total

119,979

884,017

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 the treatment of paydown gains and losses, recognition of premium amortization 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.

At March 31, 2010, the cost of investments (excluding call options written) was $280,475,284.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding call options written) at March 31, 2010, were as follows:



Gross unrealized:
Appreciation	$	42,884,243
Depreciation		(19,125,001	)

Net unrealized appreciation (depreciation) of investments	$	23,759,242


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

(2)		Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be below investment grade.

(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)		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.

(5)		At or subsequent to March 31, 2010, this issue was under the protection of the Federal Bankruptcy Court.

(6)		Non-income producing; denotes that the issuer has defaulted on the payment of principal or interest.

(7)		At or subsequent to March 31, 2010, the Fund’s Adviser concluded this issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income and “write-off” any remaining recorded balances on the Fund’s records.

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

(9)		Market of issuance for this investment is Euro. Euro par equals 77,469.

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

(11)		For fair value measurement disclosure purposes, Common Stock categorized as Level 2.

(12)		Borrowings as a percentage of Total Investments is 21.4%.

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

N/A		Not applicable.

N/R		Not rated.

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.

ADR		American Depositary Receipt.

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.

BRL		Brazilian Real

COP		Colombian Peso

EUR		Euro

HUF		Hungarian Forint

ITL		Italian Lira

MXN		Mexican Peso

TRY		Turkish New Lira

UYU		Uruguayan Peso

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 Diversified Dividend and Income Fund



By (Signature and Title)	/s/ Kevin J. McCarthy
	Kevin J. McCarthy
	Vice President and Secretary

Date May 28, 2010

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 28, 2010



By (Signature and Title)	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller (principal financial officer)

Date May 28, 2010