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: 3/31/2007

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.

TABLE OF CONTENTS


	Item 1. Schedule of Investments
	Item 2. Controls and Procedures
	Item 3. Exhibits
SIGNATURES
Certification

Item 1. Schedule of Investments

Portfolio of Investments (Unaudited)

Nuveen Diversified Dividend and Income Fund (JDD)
March 31, 2007


Shares		Description (1)	Value


		Common Stocks – 34.9% (24.7% of Total Investments)

		Aerospace & Defense – 2.0%

	32,600	Lockheed Martin Corporation	$	3,162,852
	85,000	Raytheon Company		4,459,100

		Total Aerospace & Defense		7,621,952


		Capital Markets – 1.3%

	100,000	JPMorgan Chase & Co.		4,838,000


		Commercial Banks – 2.0%

	80,000	Bank of America Corporation		4,081,600
	65,000	Wachovia Corporation		3,578,250

		Total Commercial Banks		7,659,850


		Commercial Services & Supplies – 1.2%

	105,000	Pitney Bowes Inc.		4,765,950


		Communications Equipment – 0.6%

	131,000	Motorola, Inc.		2,314,770


		Containers & Packaging – 0.9%

	146,300	Packaging Corp. of America		3,569,720


		Diversified Financial Services – 1.6%

	120,000	Citigroup Inc.		6,160,800


		Diversified Telecommunication Services – 3.8%

	175,500	AT&T Inc.		6,919,965
	90,000	KT Corporation, Sponsored ADR		2,015,100
	52,500	Telecom Italia S.p.A., Sponsored ADR		1,504,650
	105,000	Verizon Communications Inc.		3,981,600

		Total Diversified Telecommunication Services		14,421,315


		Electric Utilities – 1.4%

	55,000	EDP – Energias de Portugal, S.A., Sponsored ADR		2,951,850
	118,000	Korea Electric Power Corporation, Sponsored ADR		2,360,000

		Total Electric Utilities		5,311,850


		Household Durables – 0.9%

	112,000	Newell Rubbermaid Inc.		3,482,080


		Household Products – 1.3%

	73,000	Kimberly-Clark Corporation		4,999,770


		Industrial Conglomerates – 0.8%

	85,000	General Electric Company		3,005,600


		Insurance – 2.6%

	100,800	Aon Corporation		3,826,368
	65,400	Hartford Financial Services Group, Inc.		6,250,932

		Total Insurance		10,077,300


		Machinery – 0.8%

	45,000	Caterpillar Inc.		3,016,350


		Media – 1.5%

	55,000	CBS Corporation, Class B		1,682,450
	118,300	Clear Channel Communications, Inc.		4,145,232

		Total Media		5,827,682


		Metals & Mining – 2.0%

	84,900	Alumina Limited, Sponsored ADR		1,998,546
	33,000	POSCO, ADR		3,430,350
	10,000	Rio Tinto PLC, Sponsored ADR		2,278,100

		Total Metals & Mining		7,706,996


		Multi-Utilities – 0.6%

	82,800	United Utilities PLC, Sponsored ADR		2,459,160


		Oil, Gas & Consumable Fuels – 3.0%

	33,000	Chevron Corporation		2,440,680
	50,000	ConocoPhillips		3,417,500
	57,500	Eni S.p.A., Sponsored ADR		3,727,725
	30,000	Total SA, Sponsored ADR		2,093,400

		Total Oil, Gas & Consumable Fuels		11,679,305


		Paper & Forest Products – 1.4%

	105,500	International Paper Company		3,840,200
	97,000	Stora Enso Oyj, Sponsored ADR		1,675,190

		Total Paper & Forest Products		5,515,390


		Pharmaceuticals – 0.5%

	71,000	Pfizer Inc.		1,793,460


		Thrifts & Mortgage Finance – 2.5%

	95,000	Federal National Mortgage Association		5,185,100
	141,000	IndyMac Bancorp, Inc.		4,519,050

		Total Thrifts & Mortgage Finance		9,704,150


		Tobacco – 2.2%

	57,400	Altria Group, Inc.		5,040,294
	47,000	Loews Corp – Carolina Group		3,553,670

		Total Tobacco		8,593,964

		Total Common Stocks (cost $99,551,027)		134,525,414


Shares		Description (1)	Value


		Real Estate Investment Trust Common Stocks – 40.3% (28.5% of Total Investments)

		Industrial – 3.3%

	556,400	DCT Industrial Trust Inc.	$	6,582,212
	136,000	First Industrial Realty Trust, Inc.		6,160,800

		Total Industrial		12,743,012


		Mortgage – 0.7%

	95,000	American Home Mortgage Investment Corp.		2,564,050


		Office – 8.1%

	200,300	Brandywine Realty Trust		6,692,023
	435,600	HRPT Properties Trust		5,357,880
	158,900	Mack-Cali Realty Corporation		7,568,409
	146,800	Maguire Properties, Inc.		5,220,208
	416,000	Republic Property Trust		4,779,840
	11,986	SL Green Realty Corporation		1,644,239

		Total Office		31,262,599


		Residential – 7.5%

	114,900	Archstone-Smith Trust		6,236,772
	57,500	AvalonBay Communities, Inc.		7,475,002
	107,200	Camden Property Trust		7,537,234
	164,400	Post Properties, Inc.		7,518,014

		Total Residential		28,767,022


		Retail – 6.1%

	252,900	Cedar Shopping Centers Inc.		4,096,980
	73,500	Federal Realty Investment Trust		6,660,570
	221,000	Kite Realty Group Trust		4,408,950
	49,900	Macerich Company		4,608,764
	32,400	Simon Property Group, Inc.		3,604,500

		Total Retail		23,379,764


		Specialized – 14.6%

	314,200	Ashford Hospitality Trust Inc.		3,751,548
	130,500	Cogdell Spencer Inc.		2,749,635
	350,000	DiamondRock Hospitality Company		6,650,000
	347,300	Extra Space Storage Inc.		6,577,862
	169,500	Health Care Property Investors Inc.		6,107,085
	148,700	Hersha Hospitality Trust		1,751,686
	166,000	Nationwide Health Properties, Inc.		5,189,160
	37,174	Public Storage, Inc.		3,519,263
	355,000	Senior Housing Properties Trust		8,484,505
	253,100	U-Store-It Trust		5,092,372
	149,100	Ventas Inc.		6,281,583

		Total Specialized		56,154,699

		Total Real Estate Investment Trust Common Stocks (cost $112,379,600)		154,871,146


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

		Variable Rate Senior Loan Interests – 30.4% (21.5% of Total Investments) (4)


		Aerospace & Defense – 1.4%

$	1,971	Hexcel Corporation, Term Loan B	7.108%	3/01/12	BB	$	1,976,264
	1,592	K&F Industries, Inc., Term Loan C	7.320%	11/18/12	Ba3		1,596,392
	1,602	Vought Aircraft Industries, Inc., Term Loan	7.830%	12/22/11	Ba2		1,615,393
	364	Vought Aircraft Industries, Inc., Tranche B, Letter of Credit	7.822%	12/22/10	Ba2		366,591

	5,529	Total Aerospace & Defense					5,554,640


		Auto Components – 1.3%

	2,500	Federal Mogul Corporation, Term Loan A, (5)	7.570%	2/24/04	N/R		2,487,760
	500	Gen Tek Inc., Term Loan B	7.320%	2/28/11	B+		501,719
	1,860	Gentek, Term Loan	7.558%	12/28/11	B+		1,865,930

	4,860	Total Auto Components					4,855,409


		Building Products – 1.5%

	1,995	Armstrong World Industries, Term Loan	7.070%	10/02/13	BB		2,003,728
	1,950	Nortek, Inc., Term Loan B	7.320%	8/27/11	Ba2		1,961,213
	979	Stile Acquisition Corporation, Canadian Term Loan	7.360%	4/05/13	BB-		966,735
	981	Stile Acquisition Corporation, Term Loan B	7.360%	4/05/13	BB-		968,382

	5,905	Total Building Products					5,900,058


		Chemicals – 2.5%

	400	Celanese Corporation, Credit Linked	TBD	TBD	BB-		400,000
	1,600	Celanese Corporation, Term Loan B, WI/DD	TBD	TBD	BB-		1,600,000
	1,617	Georgia Gulf Corporation, Term Loan B	7.763%	10/03/13	BB		1,624,392
	1,995	Hexion Specialty Chemicals, Term Loan	7.875%	5/05/13	Ba3		2,011,071
	1,990	Lyondell Citgo Refining LP, Term Loan	7.110%	8/16/13	BB		1,997,325
	1,960	Rockwood Specialties Group, Inc., Term Loan E	7.360%	7/30/12	Ba2		1,977,885

	9,562	Total Chemicals					9,610,673


		Commercial Services & Supplies – 1.3%

	663	Allied Waste North America, Inc., Letter of Credit	7.073%	1/15/12	BB		666,381
	1,493	Allied Waste North America, Inc., Term Loan B	7.097%	1/15/12	BB		1,498,500
	1,843	Aramark Corporation, Term Loan	7.475%	1/26/14	Ba3		1,850,010
	132	Aramark, Letter of Credit	7.445%	1/26/14	Ba3		132,214
	998	Verifone Inc.	7.110%	10/31/13	BB-		1,006,228

	5,129	Total Commercial Services & Supplies					5,153,333


		Containers & Packaging – 0.9%

	1,990	Berry Plastics Holding Corporation, Term Loan	7.110%	9/20/13	Ba1		2,001,608
	175	Smurfit-Stone Container Corporation, Deposit-Funded Commitment	0.000%	11/01/11	Ba2		176,387
	690	Smurfit-Stone Container Corporation, Term Loan B	7.531%	11/01/11	Ba2		697,213
	421	Smurfit-Stone Container Corporation, Term Loan C	7.625%	11/01/11	Ba2		425,063
	132	Smurfit-Stone Container Corporation, Tranche C-1	7.625%	11/01/11	Ba2		133,392

	3,408	Total Containers & Packaging					3,433,663


		Diversified Consumer Services – 0.5%

	2,000	Weight Watchers International Inc., Term Loan B	6.875%	1/26/14	BB+		2,010,000


		Diversified Telecommunication Services – 1.3%

	1,000	Cequel Communications LLC., Term Loan B	7.610%	11/05/13	B+		1,002,778
	1,970	Intelsat Limited, Term Loan	7.110%	7/01/13	Ba2		1,988,532
	1,990	MetroPCS Inc., Term Loan	7.625%	11/03/13	B1		2,000,917

	4,960	Total Diversified Telecommunication Services					4,992,227


		Electric Utilities – 0.1%

	380	Mirant Corporation, Term Loan	7.070%	1/03/13	BB-		381,092


		Electrical Equipment – 0.4%

	1,539	Sensus Metering Systems Inc., Term Loan B-1	7.364%	12/17/10	Ba3		1,547,788
	167	Sensus Metering Systems Inc., Term Loan B-2	7.351%	12/17/10	Ba3		167,677

	1,706	Total Electrical Equipment					1,715,465


		Electronic Equipment & Instruments – 0.3%

	990	Sensata Technologies B.V., Term Loan	7.110%	4/27/13	BB-		990,562


		Food Products – 0.7%

	2,586	Michael Foods, Inc., Term Loan B	7.360%	11/21/10	Ba3		2,597,356


		Health Care Equipment & Supplies – 0.2%

	581	Kinteic Concepts, Inc., Term Loan B-2	6.850%	8/11/10	Ba1		582,626


		Health Care Providers & Services – 2.4%

	1,265	Davita Inc., Term Loan B	6.825%	10/05/12	Ba1		1,270,558
	1,995	HCA, Inc., Term Loan	7.600%	11/17/13	BB		2,014,327
	2,000	Health Management Associates, Term Loan	7.100%	2/28/14	Ba2		2,008,437
	2,021	LifePoint Hospitals Holdings, Inc., Term Loan B	6.985%	4/15/14	BB-		2,018,020
	1,980	Quintiles Transnational Corporation, Term Loan B	7.350%	3/31/13	BB-		1,984,951

	9,261	Total Health Care Providers & Services					9,296,293


		Hotels, Restaurants & Leisure – 3.0%

	1,980	24 Hour Fitness Worldwide, Inc., Term Loan B	7.855%	7/01/09	Ba3		1,993,613
	2,257	Burger King Corporation, Term Loan B	6.875%	6/30/12	Ba2		2,265,343
	122	CBRL Group, Inc., Delayed Draw, Term Loan B-2, (6)	0.750%	4/27/13	BB		25
	780	CBRL Group, Inc., Term Loan B-1	6.860%	4/27/13	BB		782,210
	1,970	Penn National Gaming, Inc., Term Loan B	7.114%	10/03/12	BB		1,985,760
	906	Travelport, Term Loan	7.850%	8/23/13	Ba3		915,750
	89	Travelport, Term Loan	7.850%	8/23/13	Ba3		90,160
	513	Venetian Casino Resort, LLC Term Loan B	7.090%	6/15/11	Ba2		516,913
	2,487	Venetian Casino Resort, LLC, Term Loan	7.090%	6/15/11	Ba2		2,507,030

	11,104	Total Hotels, Restaurants & Leisure					11,056,804


		Independent Power Producers & Energy Traders – 0.5%

	750	KGen LLC, Letter of Credit	7.125%	2/05/14	BB-		752,109
	1,247	KGen LLC, Term Loan B	7.125%	2/05/14	BB-		1,250,382

	1,997	Total Independent Power Producers & Energy Traders					2,002,491


		Insurance – 0.3%

	1,177	Conseco, Inc., Term Loan	7.320%	10/10/13	BB-		1,181,767


		IT Services – 0.5%

	2,058	SunGard Data Systems Inc., Term Loan B	7.360%	2/11/13	Ba3		2,077,428


		Media – 6.2%

	1,985	Cablevision Systems Corporation, Incremental Term Loan	7.110%	3/29/13	BB		1,994,305
	2,000	Charter Communications Inc., Term Loan B	7.985%	4/28/13	B1		1,999,313
	1,179	Dex Media West, LLC, Term Loan B	6.851%	3/09/10	Ba1		1,179,667
	2,000	Emmis Communications Corporation, New Term Loan B	7.350%	11/01/13	B1		2,015,556
	1,995	Idearc Inc., Term Loan	7.350%	11/17/14	BB+		2,009,464
	985	Metro-Goldwyn-Mayer Studios, Inc., Term Loan B	8.600%	6/30/12	B+		986,949
	1,990	Neilsen Finance LLC, Term Loan B	7.610%	8/09/13	Ba3		2,009,175
	1,709	R. H. Donnelley Inc., Tranche D	6.851%	6/30/11	Ba1		1,711,274
	1,882	Regal Cinemas Corporation, Term Loan	7.100%	10/27/13	Ba2		1,890,502
	1,879	Univision Communications, Term Loan, WI/DD	TBD	TBD	Ba3		1,880,049
	1,000	UPC Broadband Holding BV, Term Loan J2	7.370%	3/29/13	B1		1,004,376
	1,000	UPC Broadband Holding BV, Term Loan K2	7.370%	12/31/13	B1		1,004,313
	1,934	WMG Acquisition Corp., Term Loan	7.362%	2/28/11	Ba2		1,942,577
	2,000	Yell Group, Term Loan	7.320%	10/27/12	Ba3		2,017,344

	23,538	Total Media					23,644,864


		Metals & Mining – 0.4%

	684	Amsted Industries Inc., Delayed Draw Term Loan	7.335%	4/05/11	BB-		685,240
	941	Amsted Industries Incorporated, Term Loan B	7.358%	4/05/13	BB-		944,104

	1,625	Total Metals & Mining					1,629,344


		Multiline Retail – 0.2%

	861	Neiman Marcus Group Inc., Term Loan	7.346%	4/06/13	Ba3		869,401


		Multi-Utilities – 0.5%

	1,430	NRG Energy Inc., Term Loan	7.350%	2/01/13	Ba1		1,441,459
	591	NRG Energy Inc., Term Loan	7.350%	2/01/13	Ba1		595,884

	2,021	Total Multi-Utilities					2,037,343


		Oil, Gas & Consumable Fuels – 0.5%

	387	Targa Resources Inc., Synthetic Letter of Credit	7.475%	10/31/12	B+		390,454
	1,589	Targa Resources Inc., Term Loan B	7.360%	10/31/12	B+		1,602,487

	1,976	Total Oil, Gas & Consumable Fuels					1,992,941


		Paper & Forest Products – 1.0%

	3,965	Georgia-Pacific Corporation, Term Loan B	7.091%	12/20/10	Ba2		3,989,997


		Real Estate Management & Development – 0.4%

	1,500	LNR Property Corporation, Term Loan B	8.110%	7/12/11	B+		1,512,054


		Road & Rail – 0.2%

	111	Hertz Corporation, Synthetic Term Loan	5.365%	12/21/12	BB+		112,096
	622	Hertz Corporation, Term Loan B	7.071%	12/21/12	Ba1		627,739

	733	Total Road & Rail					739,835


		Semiconductors & Equipment – 0.5%

	1,758	Advanced Micro Devices, Term Loan B	7.570%	12/31/13	BB-		1,770,444


		Specialty Retail – 0.4%

	1,500	Toys “R” Us, Inc., Term Loan	8.320%	12/09/08	B3		1,512,422


		Textiles Apparel & Luxury Goods – 0.5%

	1,852	HanesBrands Inc., Loan	7.107%	9/05/13	Ba2		1,866,139


		Trading Companies & Distributors – 0.5%

	1,000	Ashtead Group Public Limited Company, Term Loan B	7.125%	8/31/11	BB		1,000,000
	196	Brenntag Holding GmbH and Company KG, Acquisition Facility Term Loan	7.887%	1/20/14	B1		197,591
	804	Brenntag Holdings, Term Loan B2	7.887%	1/20/14	B1		815,189

	2,000	Total Trading Companies & Distributors					2,012,780

$	116,522	Total Variable Rate Senior Loan Interests (cost $116,312,090)					116,969,451


Principal
Amount (000) (7)				Description (1)	Coupon	Maturity	Ratings (2)	Value


				Emerging Markets Debt and Foreign Corporate Bonds – 32.5% (23.0% of Total Investments)

				Argentina – 2.9%

	885			Argentine Beverages Financial Trust, 144A	7.375%	3/22/12	N/R	$	913,763
	575			Banco Macro Misiones SA, 144A	9.750%	12/18/36	B-		583,050
	1,395	ARS		Central Bank of Argentina	2.000%	2/04/18	N/R		670,870
	655			Compania de Transporte Energia, 144A	8.875%	12/15/16	B		655,000
	555			Pan American Energy LLC, 144A	7.750%	2/09/12	BB-		566,100
	2,036	ARS		Republic of Argentina	11.417%	2/20/08	B		674,843
	355			Republic of Argentina	7.000%	3/28/11	B		353,136
	2,110			Republic of Argentina	3.010%	8/03/12	B+		1,518,673
	1,904			Republic of Argentina	8.280%	12/31/33	B+		2,216,725
	1,525	ARS		Republic of Argentina	5.830%	12/31/33	B		721,591
	1,494			Republic of Argentina	1.330%	12/31/38	B+		776,880
	1,200	EUR		Republic of Argentina	1.200%	12/31/38	B		726,970
	545			Transportadora de Gas del Sur SA, Series B-A, Reg S	7.500%	12/15/13	CCC+		561,350

				Total Argentina					10,938,951


				Brazil – 2.3%

	190			Centrais Eletricas Brasileiras S.A., 144A	7.750%	11/30/15	BB		212,325
	400			Cia Brasileira de Bebidas	10.500%	12/15/11	Baa1		482,000
	420			Companhia de Saneamento Basico do Estado de Sao Paulo	7.500%	11/03/16	BB-		443,100
	595			Companhia Energetica de Sao Paulo, Corporate Bond 144A	9.250%	8/11/13	Ba3		662,830
	1,370	BRL		Companhia Energetica de Sao Paulo, Corporate Bond 144A	9.750%	1/15/15	Ba3		696,497
	685			Cospipa Commercial Limited, 144A	8.250%	6/14/16	Baa2		775,763
	565			Federative Republic of Brazil	8.000%	1/15/18	BB		639,580
	405			ISA Capital do Brasil SA	8.800%	1/30/17	BB		431,325
	760			JBS S.A., 144A	10.500%	8/04/16	B+		866,400
	3,120	BRL		National Treasury Note of Brazil	10.000%	1/01/14	N/R		1,439,307
	200	BRL		National Treasury Note of Brazil	6.000%	5/15/15	N/R		1,455,854
	325			Vale Overseas Limited	6.250%	1/23/17	BBB		332,786
	545			Vale Overseas Limited	6.875%	11/21/36	BBB		565,539

				Total Brazil					9,003,306


				Bulgaria – 0.3%

	1,100			Republic of Bulgaria, Reg S	8.250%	1/15/15	BBB+		1,305,370


				Chile – 1.6%

	565			Celulosa Arauco Y Constitucion	5.625%	4/20/15	BBB+		556,916
	600			Coldelco Inc., Reg S	6.375%	11/30/12	A2		632,642
	450			Coporacion Nacional del Cobre de Chile, Reg S	5.625%	9/21/35	Aa3		431,106
	430			Corporacion Nacional del Cobre, 144A	5.500%	10/15/13	Aa3		434,474
	1,765			Corporacion Nacional del Cobre, 144A	4.750%	10/15/14	Aa3		1,696,859
	245			Empresa Nacional Del Petroleo, Reg S	6.750%	11/15/12	A		260,896
	1,100			Empresa Nacional del Petroleo, 144A	4.875%	3/15/14	A		1,057,642
	550			Enersis SA	7.375%	1/15/14	BBB-		597,926
	550			Republic of Chile	6.875%	4/28/09	A		570,900

				Total Chile					6,239,361


				Colombia – 1.6%

	2,500,000	COP		Republic of Colombia	11.750%	3/01/10	BB		1,223,504
	1,580			Republic of Colombia	10.000%	1/23/12	BB+		1,868,350
	350			Republic of Colombia	8.250%	12/22/14	BB+		399,175
	1,080			Republic of Colombia	7.375%	1/27/17	BB+		1,178,280
	1,495			Republic of Colombia	7.375%	9/18/37	BB+		1,631,045

				Total Colombia					6,300,354


				Costa Rica – 0.5%

	350			Republic of Costa Rica	8.110%	2/01/12	Ba1		384,300
	225			Republic of Costa Rica	8.050%	1/31/13	Ba1		247,725
	1,095			Republic of Costa Rica, Reg S	9.995%	8/01/20	Ba1		1,454,160

				Total Costa Rica					2,086,185


				Dominican Republic – 0.6%

	2,044			Dominican Republic, Reg S	9.040%	1/23/18	B		2,366,798


				Egypt – 0.4%

	4,075		EGP	Egypt Republic, Treasury Bill	0.000%	5/01/07	N/R		710,833
	4,000		EGP	Egypt Republic, Treasury Bill	0.000%	5/15/07	N/R		695,531

				Total Egypt					1,406,364


				El Salvador – 0.8%

	750			Republic of El Salvador	8.500%	7/25/11	Baa3		832,500
	1,080			Republic of El Salvador	7.750%	1/24/23	Baa3		1,247,400
	730			Republic of El Salvador, 144A	7.650%	6/15/35	Baa3		835,850

				Total El Salvador					2,915,750


				Indonesia – 1.0%

	390			Adaro Finance B.V., 144A	8.500%	12/08/10	Ba3		405,600
	315			Excelcomindo Finance Company B.V., 144A	7.125%	1/18/13	BB-		319,725
	6,000,000	IDR		Indonesia Republic	11.000%	11/15/20	BB+		688,038
	1,195			Majapahit Holdings BV, 144A	7.250%	10/17/11	BB-		1,230,850
	1,300			Republic of Indonesia, 144A	6.625%	2/17/37	BB-		1,283,750

				Total Indonesia					3,927,963


				Israel – 0.2%

	585			State of Israel	5.500%	11/09/16	A2		586,913


				Jamaica – 0.2%

	250			Clarendon Alumina Production Limited, 144A	8.500%	11/16/21	Ba2		269,375
	310			Jamaica Government	8.000%	3/15/39	B1		312,325

				Total Jamaica					581,700


				Kazakhstan 0.4%

	1,040			Intergas Finance B.V	6.875%	11/04/11	Baa2		1,072,760
	212			Kazkommerts International BV, 144A	8.000%	11/03/15	Baa1		216,240
	300			Tengizchevroil LLP, 144A	6.124%	11/15/14	BBB-		300,000

				Total Kazakhstan					1,589,000


				Lebanon – 0.1%

	220			Republic of Lebanon	7.750%	9/07/12	B-		214,500
	210			Republic of Lebanon, Reg S	7.375%	4/14/14	B-		199,500

				Total Lebanon					414,000


				Malaysia – 1.3%

	950			Penerbangan Malaysia Berhad	5.625%	3/15/16	A-		964,504
	1,125			Petronas Capital Limited	7.000%	5/22/12	A1		1,215,267
	1,100			Republic of Malaysia	8.750%	6/01/09	A-		1,179,836
	1,000			Republic of Malaysia	7.500%	7/15/11	A-		1,088,377
	550			Sarawak International Inc.	5.500%	8/03/15	A-		543,868

				Total Malaysia					4,991,852


				Mexico – 1.7%

	1,255			Banco Mercantil Del Norte SA, 144A	6.135%	10/13/16	Baa1		1,270,885
	895			Conproca SA, Reg S	12.000%	12/16/10	BBB-		1,024,775
	1,200			Pemex Project Funding Master Trust	8.500%	2/15/08	Baa1		1,229,700
	830			Pemex Project Funding Master Trust, Series 12	5.750%	12/15/15	Baa1		832,698
	12,350	MXN		United Mexican States	9.500%	12/18/14	A		1,246,160
	580			United Mexican States	6.750%	9/27/34	Baa1		633,940
	310			Vitro SA	9.125%	2/01/17	B		319,300

				Total Mexico					6,557,458


				Netherlands – 0.2%

	1,500	BRL		Banco ABN AMRO Real SA, Reg S	16.200%	2/22/10	N/R		807,225


				Pakistan – 0.1%

	330			Pakistan Mobile Communications Ltd., 144A	8.625%	11/13/13	B+		344,850


				Panama – 1.4%

	445			AES Panama SA, 144A	6.350%	12/21/16	BBB-		444,628
	720			Republic of Panama	9.625%	2/08/11	Ba1		823,680
	575			Republic of Panama	7.125%	1/29/26	Ba1		623,875
	3,314			Republic of Panama, DD1	6.700%	1/26/36	Ba1		3,456,502

				Total Panama					5,348,685


				Peru – 0.9%

	615			Republic of Peru	8.750%	11/21/33	BB+		811,800
	1,525			Republic of Peru	6.550%	3/14/37	BB+		1,586,763
	1,485			Republic of Peru, Enhanced Pass Thru Notes, 144A	0.000%	5/31/18	BB		998,663

				Total Peru					3,397,226


				Philippines – 1.3%

	255			Bangko Sentral ng Pilipinas, Series A	8.600%	6/15/27	BB-		304,725
	780			Republic of the Philippines	8.375%	2/15/11	BB-		856,050
	210			Republic of the Philippines	8.250%	1/15/14	BB-		236,513
	1,275			Republic of the Philippines	9.375%	1/18/17	BB-		1,577,813
	1,833			Republic of the Philippines	7.750%	1/14/31	BB-		2,075,873

				Total Philippines					5,050,974


				Qatar – 0.5%

	240			Ras Laffan Liquified Natural Gas Co., Ltd., 144A	3.437%	9/15/09	A-		235,725
	503			Ras Laffan Liquified Natural Gas Company Limited	3.437%	9/15/09	A-		494,458
	575			Ras Laffan Liquified Natural Gas II, Reg S	5.298%	9/30/20	A1		560,198
	550			State of Qatar	9.750%	6/15/30	AA-		822,250

				Total Qatar					2,112,631


				Russian Federation – 3.3%

	640			Gaz Capital SA	6.212%	11/22/16	Baa1		641,920
	170	EUR		GAZ Capitol SA, 144A	5.030%	2/25/14	BBB		225,207
	525			Gazprom	10.500%	10/21/09	A3		589,969
	719			GazStream SA, Series 144A	5.625%	7/22/13	Baa1		719,116
	620			Irkut Corporation, Loan Participations, Moscow River BV, Reg S	8.250%	4/10/09	N/R		636,430
	1,575			Russia Federation	1.000%	3/31/30	BBB+		1,791,284
	2,305			Russian Agricultural Bank, 144A	7.175%	5/16/13	A3		2,440,419
	750			Russian Federation	11.000%	7/24/18	BBB+		1,083,975
	400			Russian Ministry of Finance	12.750%	6/24/28	BB+		726,974
	550			Saving Bank of the Russian Federation, Participations	0.000%	2/11/15	Baa2		558,855
	490			VTB Capital SA, Corporate Bonds, 144A	5.960%	8/01/08	A2		490,858
	1,000			VTB Capital SA, Series 144A	7.500%	10/12/11	A2		1,073,750
	1,200			VTB Capital SA, Series 144A	6.250%	6/30/35	A2		1,243,488

				Total Russian Federation					12,222,245


				Serbia – 0.6%

	2,500			Republic of Serbia, 144A	3.750%	11/01/24	BB-		2,362,500


				South Africa – 1.2%

	3,255			Republic of South Africa	9.125%	5/19/09	BBB+		3,507,263
	1,140			Republic of South Africa	7.375%	4/25/12	BBB+		1,241,175

				Total South Africa					4,748,438


				South Korea – 0.2%

	770			Korea Development Bank	4.625%	9/16/10	A		758,590


				Thailand – 0.1%

	250			Bangkok Bank Public Company Limited	9.025%	3/15/29	BBB		316,438


				Trinidad and Tobago – 1.0%

	1,913			Republic of Trinidad and Tobago, Reg S	9.750%	7/01/20	A-		2,596,898
	945			First Citizens Saint Lucia Limited, Reg S	5.125%	2/14/11	A2		937,338
	180			National Gas Company of Trinidad and Tobago, 144A	6.050%	1/15/36	A3		174,912

				Total Trinidad and Tobago					3,709,148


				Tunisia – 0.6%

	2,065			Banque de Tunisie	7.375%	4/25/12	BBB		2,250,850


				Turkey – 0.8%

	500			Republic of Turkey	9.500%	1/15/14	BB-		583,400
	270			Republic of Turkey	7.250%	3/15/15	BB-		281,475
	1,275			Republic of Turkey	6.875%	3/17/36	BB-		1,225,594
	1,680		TRY	Republic of Turkey, Government Bond	16.000%	3/07/12	N/R		1,139,231

				Total Turkey					3,229,700


				Ukraine – 1.3%

	1,055			Republic of Ukraine	7.650%	6/11/13	BB-		1,145,730
	2,585			Republic of Ukraine, Reg S	6.875%	3/04/11	BB-		2,686,074
	615			Ukraine Export-Import Bank Loan Participation with Credit Suisse International	8.400%	2/09/16	Ba2		635,787
	650			Ukraine Government, 144A	6.580%	11/21/16	BB-		660,400

				Total Ukraine					5,127,991


				United Arab Emirates – 0.2%

	350			Abu Dhabi National Energy Company, 144A	5.875%	10/27/16	Aa3		353,809
	545			Abu Dhabi National Energy Company, 144A	6.500%	10/27/36	Aa3		552,453

				Total United Arab Emirates					906,262


				Uruguay – 0.8%

	2,070			Oriental Republic of Uruguay	7.625%	3/21/36	B+		2,292,520
	715			Republic of Uruguay	8.000%	11/18/22	B+		815,100
	117			Republic of Uruguay	7.875%	1/15/33	B+		132,780

				Total Uruguay					3,240,400


				Venezuela – 1.5%

	505			Petrozuata Finance Inc., Series B, Reg S	8.220%	4/01/17	Ba3		510,050
	1,935			Republic of Venezuela	5.375%	8/07/10	B+		1,896,300
	1,145			Republic of Venezuela	0.000%	4/20/11	BB-		1,138,989
	125			Republic of Venezuela	8.500%	10/08/14	BB-		139,500
	1,400			Republic of Venezuela	6.000%	12/09/20	BB-		1,298,500
	635			Republic of Venezuela, Reg S	7.000%	12/01/18	B+		648,018

				Total Venezuela					5,631,357


				Viet Nam – 0.6%

	2,223			Socialist Republic of Vietnam	1.000%	3/14/16	BB-		2,237,474

				Total Emerging Markets Debt and Foreign Corporate Bonds (cost $119,119,166)					125,014,309

Principal

Amount (000)

Description (1)

Coupon

Maturity

Ratings (2)

Value

Corporate Bonds – 1.3% (0.9% of Total Investments)

Communications Equipment – 0.1%

310

Orascom Telecom Finance, SCA

7.875%

2/08/14

306,900

Food Products – 0.1%

380

Cosan Finance Limited

7.000%

2/01/17

376,200

Hotels, Restaurants & Leisure – 0.5%

2,000

MGM Mirage, Inc.

6.750%

8/01/07

2,012,500

Household Durables – 0.5%

2,000

D.R. Horton, Inc.

7.500%

12/01/07

BBB-

2,025,644

Wireless Telecommunication Services – 0.1%

395

Digicel Group, Limited

8.875%

1/15/15

Caa2

384,138

5,085

Total Corporate Bonds (cost $5,116,864)

5,105,382

Principal

Amount (000)

Description (1)

Coupon

Maturity

Value

Short-Term Investments – 2.0% (1.4% of Total Investments)

7,561

Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/30/07, repurchase price $7,564,189, collateralized by $7,810,000, U.S. Treasury Notes, 3.375%, due 12/15/08, value $7,712,375

4.900%

4/02/07

7,561,102

Total Short-Term Investments (cost $7,561,102)

7,561,102

Total Investments (cost $460,039,849) – 141.4%

544,046,804

Borrowings Payable – (11.7)% (8)

(45,000,000

)

Other Assets Less Liabilities – 1.5%

5,739,230

Preferred Shares, at Liquidation Value – (31.2)%

(120,000,000

)

Net Assets Applicable to Common Shares – 100%

384,786,034

Forward Foreign Currency Exchange Contracts outstanding at March 31, 2007:


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

Argentine Peso		1,953,000	U.S. Dollar		627,369		6/20/07	$	(2,597	)
Colombian Peso		2,837,800,000	U.S. Dollar		1,274,270		6/20/07		(8,361	)
Euro		4,000	U.S. Dollar		5,280		6/20/07		(80	)
Euro		676,000	U.S. Dollar		892,114		6/20/07		(13,780	)
New Turkish Lira		1,830,000	U.S. Dollar		1,253,468		6/20/07		(23,027	)
Peruvian Nouveau Sol		4,030,000	U.S. Dollar		1,266,101		6/20/07		(1,540	)
U.S. Dollar		2,562,571	Peruvian Nouveau Sol		8,150,000		6/20/07		1,021
U.S. Dollar		186,395	New Turkish Lira		274,000		6/20/07		4,731

								$	(43,633	)


(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 or Moody’s rating. Ratings below BBB by Standard & Poor’s Group or Baa by Moody’s Investor Service, Inc. 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 in which the Fund invests 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, 2007, this issue was under the protection of the Federal Bankruptcy Court.

(6)		Position represents an unfunded Senior Loan commitment outstanding at March 31, 2007.

(7)		Principal amount denominated in U.S. dollars, unless otherwise noted.

(8)		Borrowings Payable as a percentage of total investments is (8.3)%.

N/R		Not rated.

WI/DD		Purchased on a when-issued or delayed delivery basis.

DD1		Portion of investment purchased on a 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.

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 weighted average coupon rate is not available prior to settlement. At settlement, if still unknown, the Borrower or counterparty will provide the Fund with the final weighted average coupon rate and maturity date.

TRY		New Turkish Lira

EUR		Euro

BRL		Brazilian Real

MXN		Mexican Peso

IDR		Indonesian Rupiah

EGP		Egyptian Pound

COP		Colombian Peso

ARS		Argentine Peso

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, recognition of income on REIT investments, and timing differences in recognizing certain gains and losses on investment transactions.

At March 31, 2007, the cost of investments was $461,745,514.

Gross unrealized appreciation and gross unrealized depreciation of investments at March 31, 2007, were as follows:




Gross unrealized:
Appreciation	$	86,991,085
Depreciation		(4,689,795	)



Net unrealized appreciation (depreciation) of investments	$	82,301,290

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 30, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By (Signature and Title)*	/s/ Gifford R. Zimmerman
	Gifford R. Zimmerman
	Chief Administrative Officer (principal executive officer)

Date May 30, 2007



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

Date May 30, 2007


*		Print the name and title of each signing officer under his or her signature.