Edgar Filing: NUVEEN DIVERSIFIED DIVIDEND & INCOME FUND

N-Q

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: 9/30/2008

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
EX-99.CERT

Item 1. Schedule of Investments

Portfolio of Investments (Unaudited)

Nuveen Diversified Dividend and Income Fund (JDD)
September 30, 2008


Shares			Description (1)					Value


			Common Stocks – 32.7% (21.6% of Total Investments)

			Aerospace & Defense – 1.8%

	16,700		Lockheed Martin Corporation					$	1,831,489
	52,200		Raytheon Company						2,793,222

			Total Aerospace & Defense						4,624,711


			Capital Markets – 1.8%

	99,400		JPMorgan Chase & Co.						4,641,980


			Commercial Services & Supplies – 1.8%

	135,100		Pitney Bowes Inc.						4,493,426


			Communications Equipment – 1.1%

	385,300		Motorola, Inc.						2,751,042


			Containers & Packaging – 0.9%

	95,000		Packaging Corp. of America						2,202,100


			Diversified Financial Services – 0.6%

	75,100		Citigroup Inc.						1,540,301


			Diversified Telecommunication Services – 2.9%

	77,500		AT&T Inc.						2,163,800
	90,000		KT Corporation, Sponsored ADR						1,511,100
	52,500		Telecom Italia S.p.A., Sponsored ADR						783,300
	87,000		Verizon Communications Inc.						2,791,830

			Total Diversified Telecommunication Services						7,250,030


			Electric Utilities – 1.1%

	32,200		EDP – Energias de Portugal, S.A., Sponsored ADR						1,329,303
	118,000		Korea Electric Power Corporation, Sponsored ADR						1,462,020

			Total Electric Utilities						2,791,323


			Food Products – 0.5%

	39,722		Kraft Foods Inc.						1,300,896


			Hotels, Restaurants & Leisure – 1.6%

	141,900		Starwood Hotels & Resorts Worldwide, Inc.						3,993,066


			Household Durables – 0.8%

	112,000		Newell Rubbermaid Inc.						1,933,120


			Household Products – 1.9%

	73,000		Kimberly-Clark Corporation						4,733,320


			Industrial Conglomerates – 0.8%

	80,000		General Electric Company						2,040,000


			Insurance – 2.2%

	117,000		Genworth Financial Inc., Class A						1,007,370
	65,400		Hartford Financial Services Group, Inc.						2,680,746
	40,000		Travelers Companies, Inc.						1,808,000

			Total Insurance						5,496,116


			Machinery – 0.8%

	32,700		Caterpillar Inc.						1,948,920


			Media – 0.8%

	55,000		CBS Corporation, Class B						801,900
	66,400		Gannett Company Inc.						1,122,824

			Total Media						1,924,724


			Metals & Mining – 0.4%

	13,000		POSCO, ADR						1,213,810


			Multi-Utilities – 0.6%

	63,981		United Utilities PLC, Sponsored ADR						1,585,187


			Oil, Gas & Consumable Fuels – 4.1%

	33,000		Chevron Corporation						2,721,840
	37,900		ConocoPhillips						2,776,175
	57,500		Eni S.p.A., Sponsored ADR						3,044,625
	30,000		Total S.A., Sponsored ADR						1,820,400

			Total Oil, Gas & Consumable Fuels						10,363,040


			Paper & Forest Products – 1.1%

	71,100		International Paper Company						1,861,398
	97,000		Stora Enso Oyj, Sponsored ADR						930,599

			Total Paper & Forest Products						2,791,997


			Pharmaceuticals – 2.9%

	60,000		GlaxoSmithKline PLC, Sponsored ADR						2,607,600
	140,000		Pfizer Inc.						2,581,600
	68,000		Sanofi-Aventis, Sponsored ADR						2,235,160

			Total Pharmaceuticals						7,424,360


			Tobacco – 2.2%

	57,400		Altria Group, Inc.						1,138,815
	33,800		Lorillard Inc.						2,404,870
	41,700		Philip Morris International						2,005,770

			Total Tobacco						5,549,455

			Total Common Stocks (cost $85,597,566)						82,592,924


Shares			Description (1)					Value


			Real Estate Investment Trust Common Stocks – 38.0% (25.1% of Total Investments)

			Industrial – 1.3%

	118,000		First Industrial Realty Trust, Inc.					$	3,384,240


			Office – 6.7%

	54,400		Boston Properties, Inc.						5,095,104
	200,300		Brandywine Realty Trust						3,210,809
	138,200		Mack-Cali Realty Corporation						4,680,834
	61,900		SL Green Realty Corporation						4,011,120

			Total Office						16,997,867


			Residential – 9.3%

	93,430		Apartment Investment & Management Company, Class A						3,271,919
	54,500		AvalonBay Communities, Inc.						5,363,890
	100,400		Camden Property Trust						4,604,344
	127,500		Equity Residential						5,662,275
	159,300		Post Properties, Inc.						4,455,621

			Total Residential						23,358,049


			Retail – 6.2%

	69,500		Federal Realty Investment Trust						5,949,200
	76,200		Macerich Company						4,850,130
	29,700		Simon Property Group, Inc.						2,880,900
	152,400		Westfield Group						2,087,566

			Total Retail						15,767,796


			Specialized – 14.5%

	130,500		Cogdell Spencer Inc.						2,093,220
	473,300		DiamondRock Hospitality Company						4,307,030
	347,300		Extra Space Storage Inc.						5,334,527
	139,200		Health Care Property Investors Inc.						5,586,096
	309,000		Host Hotels & Resorts Inc.						4,106,610
	37,174		Public Storage, Inc.						3,680,598
	248,000		Senior Housing Properties Trust						5,909,840
	113,500		Ventas Inc.						5,609,170

			Total Specialized						36,627,091

			Total Real Estate Investment Trust Common Stocks (cost $93,310,386)						96,135,043


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


			Variable Rate Senior Loan Interests – 41.3% (27.2% of Total Investments) (4)


			Aerospace & Defense – 1.1%

$	1,166		Hexcel Corporation, Term Loan B	4.938%	3/01/12	BB+		$	1,131,019
	1,579		Vought Aircraft Industries, Inc., Term Loan	6.210%	12/22/11	Ba3			1,433,575
	364		Vought Aircraft Industries, Inc., Tranche B, Letter of Credit	4.953%	12/22/10	Ba3			330,227

	3,109		Total Aerospace & Defense						2,894,821


			Auto Components – 0.8%

	457		Gen Tek Inc., Additional Term Loan B	4.791%	2/28/11	BB-			419,185
	1,694		Gen Tek Inc., Term Loan B	4.798%	2/28/11	BB-			1,554,550

	2,151		Total Auto Components						1,973,735


			Building Products – 0.9%

	776		Armstrong World Industries, Inc., Tranche B, Term Loan	4.943%	10/02/13	BBB-			717,893
	2,000		Manitowoc Company, Inc., Delayed Draw Term Loan, (5), (6)	0.500%	8/30/14	BB+			(83,500	)
	957		Stile Acquisition Corporation, Canadian Term Loan	6.500%	4/05/13	B			749,075
	966		Stile Acquisition Corporation, Term Loan B	6.000%	4/05/13	B			756,359

	4,699		Total Building Products						2,139,827


			Chemicals – 2.3%

	400		Celanese US Holdings LLC, Credit Linked Deposit	2.486%	4/02/14	BB+			363,600
	1,580		Celanese US Holdings LLC, Term Loan	4.283%	4/02/14	BB+			1,436,220
	878		Georgia Gulf Corporation, Term Loan	2.500%	10/03/13	Ba3			788,108
	1,960		Hexion Specialty Chemicals, Inc., Term Loan C-4	5.063%	5/05/13	Ba3			1,516,550
	1,930		Rockwood Specialties Group, Inc., Term Loan E	4.299%	7/30/12	BB+			1,753,888

	6,748		Total Chemicals						5,858,366


			Commercial Services & Supplies – 1.0%

	105		Aramark Corporation, Letter of Credit	4.801%	1/24/14	BB			91,622
	1,658		Aramark Corporation, Term Loan	5.637%	1/24/14	BB			1,442,192
	1,094		Berry Plastics Holding Corporation, Term Loan	4.798%	4/03/15	BB-			890,057

	2,857		Total Commercial Services & Supplies						2,423,871


			Containers & Packaging – 1.3%

	2,808		Graham Packaging Company, L.P., Term Loan	5.059%	10/07/11	B+			2,517,201
	175		Smurfit-Stone Container Corporation, Deposit-Funded Commitment	4.713%	11/01/10	BB			160,978
	196		Smurfit-Stone Container Corporation, Term Loan B	4.729%	11/01/11	BB			180,476
	371		Smurfit-Stone Container Corporation, Term Loan C	4.741%	11/01/11	BB			341,322
	116		Smurfit-Stone Container Corporation, Tranche C-1	4.500%	11/01/11	BB			107,125

	3,666		Total Containers & Packaging						3,307,102


			Diversified Consumer Services – 0.7%

	1,965		Weight Watchers International, Inc., Term Loan B	4.313%	1/26/14	BB+			1,870,025


			Diversified Telecommunication Services – 1.6%

	1,940		Intelsat, Tranche B, Term Loan	5.288%	7/01/13	BB-			1,771,862
	1,960		MetroPCS Wireless, Inc., Term Loan	5.402%	11/03/13	BB-			1,754,900
	463		Verifone, Inc., Term Loan B	5.550%	10/31/13	BB			439,375

	4,363		Total Diversified Telecommunication Services						3,966,137


			Electric Utilities – 1.7%

	1,702		Dynegy Holdings, Inc., Delayed Term Loan	5.210%	4/02/13	Ba1			1,460,426
	295		Dynegy Holdings, Inc., Term Loan	5.210%	4/02/13	Ba1			253,019
	1,980		TXU Corporation, Term Loan B-2	6.228%	10/10/14	Ba3			1,680,525
	992		TXU Corporation, Term Loan B-3	6.280%	10/10/14	Ba3			840,951

	4,969		Total Electric Utilities						4,234,921


			Electrical Equipment – 0.6%

	1,409		Sensus Metering Systems, Inc., Term Loan B-1	4.715%	12/17/10	BB			1,384,043


			Electronic Equipment & Instruments – 0.3%

	978		Sensata Technologies B.V., Term Loan	4.543%	4/27/13	BB			823,238


			Food Products – 2.3%

	1,985		Dean Foods Company, Term Loan	5.269%	4/02/14	BB			1,757,617
	2,315		Michael Foods, Inc., Term Loan B	4.867%	11/21/10	BB-			2,199,382
	2,000		Wrigley Wm. Jr. Company, Term Loan B, WI/DD	TBD	TBD	N/R			1,965,893

	6,300		Total Food Products						5,922,892


			Gas Utilities – 0.7%

	2,000		Energy Transfer Partners LP, Term Loan	4.553%	11/01/12	BBB-			1,850,000


			Health Care Equipment & Supplies – 1.4%

	240		Bausch & Lomb, Inc., Delayed Term Loan, (5)	4.707%	4/24/15	BB-			212,333
	1,588		Bausch & Lomb, Inc., Term Loan	7.012%	4/24/15	BB-			1,478,164
	1,990		Biomet, Inc., Term Loan	6.762%	3/24/15	BB-			1,838,228

	3,818		Total Health Care Equipment & Supplies						3,528,725


			Health Care Providers & Services – 4.4%

	96		Community Health Systems, Inc., Delayed Draw, Term Loan, (5), (6)	1.000%	7/25/14	BB			(11,492	)
	1,872		Community Health Systems, Inc., Term Loan	5.277%	7/25/14	BB			1,647,323
	1,265		DaVita, Inc., Term Loan B-1	4.880%	10/05/12	BB+			1,146,066
	2,000		Fresenius Medical Care AG & Co. KGaA, Term Loan, WI/DD	TBD	TBD	BBB-			1,970,000
	1,965		HCA, Inc., Term Loan	6.012%	11/18/13	BB			1,727,972
	1,881		Health Management Associates, Inc., Term Loan	5.512%	2/28/14	BB-			1,594,379
	1,950		Quintiles Transnational Corporation, Term Loan B	5.770%	3/29/13	BB			1,733,063
	230		United Surgical Partners International, Inc., Delayed Term Loan	5.118%	4/18/14	Ba3			193,548
	1,242		United Surgical Partners International, Inc., Term Loan	5.133%	4/18/14	Ba3			1,055,988

	12,501		Total Health Care Providers & Services						11,056,847


			Hotels, Restaurants & Leisure – 2.7%

	1,950		24 Hour Fitness Worldwide, Inc., Term Loan B	5.677%	6/08/12	Ba3			1,716,000
	767		CBRL Group, Inc., Term Loan B-1	4.300%	4/28/13	BB-			673,110
	92		CBRL Group, Inc., Term Loan B-2	4.300%	4/28/13	BB-			80,927
	1,940		Penn National Gaming, Inc., Term Loan B	4.484%	10/03/12	BB+			1,753,760
	89		Travelport LLC, Letter of Credit	6.012%	8/23/13	BB-			71,898
	445		Travelport LLC, Term Loan	6.012%	8/23/13	BB-			358,325
	599		Venetian Casino Resort LLC, Delayed Term Loan	5.520%	5/23/14	BB-			455,608
	2,370		Venetian Casino Resort LLC, Term Loan	5.520%	5/23/14	BB-			1,804,162

	8,252		Total Hotels, Restaurants & Leisure						6,913,790


			Independent Power Producers & Energy Traders – 1.2%

	750		KGEN LLC, Synthetic Letter of Credit	4.563%	2/05/14	BB			641,250
	1,228		KGEN LLC, Term Loan B	5.563%	2/05/14	BB			1,050,047
	469		NRG Energy, Inc. Credit Linked Deposit	2.701%	2/01/13	Ba1			414,014
	954		NRG Energy, Inc., Term Loan	5.262%	2/01/13	Ba1			842,710

	3,401		Total Independent Power Producers & Energy Traders						2,948,021


			Insurance – 0.3%

	1,159		Conseco, Inc., Term Loan	5.709%	10/10/13	B+			872,349


			IT Services – 1.4%

	1,980		First Data Corporation, Term Loan B-1	5.963%	9/24/14	BB-			1,697,025
	2,022		SunGard Data Systems, Inc., Term Loan B	4.553%	2/28/14	BB			1,764,563

	4,002		Total IT Services						3,461,588


			Life Sciences Tools & Services – 0.8%

	2,000		Invitrogen Corporation, Term Loan, WI/DD	TBD	TBD	BBB-			1,957,084


			Media – 8.3%

	1,975		CanWest Mediaworks LP, Term Loan	4.810%	7/10/15	Ba2			1,723,188
	985		Cequel Communications LLC, Term Loan B	4.792%	11/05/13	BB-			859,413
	2,184		Charter Communications Operating Holdings LLC, Term Loan	4.800%	3/06/14	B+			1,744,071
	1,950		CSC Holdings, Inc., Term Loan	4.569%	3/29/13	BBB-			1,727,142
	1,975		Discovery Communications Holdings LLC, Term Loan	5.762%	5/14/14	BB+			1,845,391
	1,919		Emmis Operating Company, Term Loan	5.694%	11/01/13	B+			1,560,536
	1,965		Idearc, Inc., Term Loan	5.767%	11/17/14	BB			1,161,315
	970		Metro-Goldwyn-Mayer Studios, Inc., Term Loan B	7.012%	4/08/12	Ba3			692,652
	1,960		Neilsen Finance LLC, Term Loan	4.803%	8/09/13	Ba3			1,701,293
	1,975		Tribune Company, Term Loan B	5.786%	6/04/14	B			1,051,688
	341		Tribune Company, Term Loan X	5.541%	6/04/09	B			315,733
	2,000		Univision Communications, Inc., Term Loan	5.121%	9/29/14	B1			1,297,000
	2,000		UPC Broadband Holding BV, Term Loan N	4.236%	12/31/14	Ba3			1,793,000
	1,899		WMG Acquisition Corporation, Term Loan	5.073%	2/28/11	BB			1,720,650
	2,000		Yell Group PLC, Term Loan	5.704%	10/27/12	Ba3			1,726,667

	26,098		Total Media						20,919,739


			Metals & Mining – 0.6%

	673		Amsted Industries, Inc., Delayed Term Loan	5.035%	4/08/13	BB			618,795
	926		Amsted Industries, Inc., Term Loan	4.842%	4/08/13	BB			851,777

	1,599		Total Metals & Mining						1,470,572


			Paper & Forest Products – 0.7%

	1,861		Georgia-Pacific Corporation, Term Loan B	4.694%	12/21/12	BB+			1,648,890


			Pharmaceuticals – 1.5%

	2,167		Mylan Laboratories Inc., Term Loan	7.037%	10/02/14	BB			2,020,689
	1,970		Royalty Pharma Finance Trust, Term Loan	6.012%	4/16/13	Baa2			1,873,962

	4,137		Total Pharmaceuticals						3,894,651


			Real Estate Management & Development – 0.3%

	1,320		LNR Property Corporation, Term Loan B	6.040%	7/12/11	BB			866,800


			Road & Rail – 0.7%

	111		Hertz Corporation, Letter of Credit	5.454%	12/21/12	BB+			99,292
	613		Hertz Corporation, Term Loan	4.169%	12/21/12	BB+			547,745
	1,767		Swift Transportation Company, Inc., Term Loan	6.063%	5/10/14	B+			1,153,256

	2,491		Total Road & Rail						1,800,293


			Specialty Retail – 0.5%

	1,500		TRU 2005 RE Holding Co I LLC, Term Loan	5.486%	12/08/08	B3			1,317,000


			Textiles, Apparel & Luxury Goods – 0.5%

	1,395		HBI Branded Apparel Limited, Inc., Term Loan	4.709%	9/05/13	BB+			1,275,227


			Trading Companies & Distributors – 0.7%

	912		Ashtead Group Public Limited Company, Term Loan	4.563%	8/31/11	Ba2			852,720
	196		Brenntag Holdings GmbH & Co. KG, Acquisition Facility	5.071%	1/20/14	B+			165,925
	804		Brenntag Holdings GmbH & Co. KG, Facility B2	5.071%	1/20/14	B+			679,073

	1,912		Total Trading Companies & Distributors						1,697,718

$	122,660		Total Variable Rate Senior Loan Interests (cost $119,925,916)						104,278,272


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


			Emerging Markets Debt and Foreign Corporate Bonds – 36.2% (23.9% of Total Investments)

			Argentina – 1.1%

$	4,427		Republic of Argentina	3.092%	8/03/12	B		$	1,606,003
	1,363		Republic of Argentina	8.280%	12/31/33	B			782,007
	497	EUR	Republic of Argentina	7.820%	12/31/33	B			332,678

			Total Argentina						2,720,688


			Brazil – 3.8%

	1,500	BRL	Banco ABN AMRO Real S.A., Reg S	16.200%	2/22/10	N/R			776,446
	190		Centrais Eletricas Brasileiras S.A., 144A	7.750%	11/30/15	BBB-			184,775
	400		Cia Brasileira de Bebidas	10.500%	12/15/11	Baa1			442,000
	1,370	BRL	Companhia Energetica de Sao Paulo, Corporate Bond 144A	9.750%	1/15/15	Ba2			751,470
	765	EUR	Federative Republic of Brazil, Reg S	8.500%	9/24/12	BBB-			1,111,969
	295		Federative Republic of Brazil	8.750%	2/04/25	BBB-			347,363
	590		Globo Comunicacao Participacoes, S.A., 144A	7.250%	4/26/22	BBB-			519,200
	1,955		National Development Company	6.369%	6/16/18	Baa3			1,730,175
	92	BRL	National Treasury Note of Brazil, (8)	6.000%	8/15/10	BBB+			814,188
	130	BRL	National Treasury Note of Brazil	6.000%	5/15/15	Ba1			1,066,427
	185	BRL	National Treasury Note of Brazil	10.000%	1/01/17	BBB+			804,885
	535		Petrobras International Finance Company	8.375%	12/10/18	BBB			580,475
	1,100	BRL	RBS Zero Hora Editora Jornalistica S.A., 144A	11.250%	6/15/17	BB-			400,792

			Total Brazil						9,530,165


			Chile – 2.2%

	600		Coldelco Inc., Reg S	6.375%	11/30/12	Aa3			620,364
	450		Corporacion Nacional del Cobre de Chile, Reg S	5.625%	9/21/35	Aa3			373,820
	1,245		Corporacion Nacional del Cobre de Chile, Reg S	6.150%	10/24/36	Aa3			1,149,932
	430		Corporacion Nacional del Cobre, 144A	5.500%	10/15/13	Aa3			428,108
	1,765		Corporacion Nacional del Cobre, 144A	4.750%	10/15/14	Aa3			1,679,502
	1,100		Empresa Nacional del Petroleo, 144A	4.875%	3/15/14	A2			1,026,622
	245		Empresa Nacional del Petroleo, Reg S	6.750%	11/15/12	A2			252,369

			Total Chile						5,530,717


			Colombia – 0.7%

	650,000	COP	Bogota Distrito Capital, 144A	9.750%	7/26/28	BB+			247,636
	1,554,000	COP	Republic of Colombia	12.000%	10/22/15	BB+			827,882
	1,912,000	COP	Republic of Colombia	9.850%	6/28/27	BB+			808,367

			Total Colombia						1,883,885


			El Salvador – 0.4%

	445		Republic of El Salvador, Reg S	7.750%	1/24/23	Baa3			451,675
	465		Republic of El Salvador, Reg S	7.625%	9/21/34	Baa3			462,675

			Total El Salvador						914,350


			Gabon – 1.3%

	3,360		Republic of Gabon, 144A	8.200%	12/12/17	BB-			3,242,400


			Ghana – 0.4%

	1,200		Republic of Ghana, Reg S	8.500%	10/04/17	B+			1,013,944


			Hungary – 0.4%

	180,800	HUF	Republic of Hungary, Treasury Bill	6.000%	10/24/12	BBB+			938,581


			India – 0.4%

	1,205		Vedanta Resources PLC, 144A	9.500%	7/18/18	Ba1			1,028,950


			Indonesia – 1.4%

	1,195		Majapahit Holdings B.V., 144A	7.250%	10/17/11	BB-			1,138,238
	670		Republic of Indonesia, 144A	6.750%	3/10/14	BB-			644,875
	2,000		Republic of Indonesia, 144A	7.750%	1/17/38	BB-			1,810,000

			Total Indonesia						3,593,113


			Israel – 0.7%

	1,115		Israel Electric Corporation Limited, 144A	7.250%	1/15/19	BBB+			1,118,827
	585		State of Israel	5.500%	11/09/16	A1			604,255

			Total Israel						1,723,082


			Kazakhstan – 1.1%

	1,355		KazMuniaGaz Finance Subsidiary, Reg S	9.125%	7/02/18	Baa1			1,177,224
	1,690		KazMuniaGaz Finance Subsidiary, 144A	9.125%	7/02/18	Baa1			1,444,950
	279		Tengizchevroil LLP, 144A	6.124%	11/15/14	BBB-			224,266

			Total Kazakhstan						2,846,440


			Luxembourg – 0.1%

	165		Gaz Capital S.A.	8.625%	4/28/34	BBB			154,275


			Malaysia – 1.8%

	950		Penerbangan Malaysia Berhad, Reg S	5.625%	3/15/16	A-			975,769
	525		Pertoliam Nasional Berhad, Reg S	7.625%	10/15/26	A1			616,511
	1,125		Petronas Capital Limited, Reg S	7.000%	5/22/12	A1			1,202,108
	1,100		Republic of Malaysia	8.750%	6/01/09	A-			1,132,126
	550		Sarawak International Inc.	5.500%	8/03/15	A-			505,074

			Total Malaysia						4,431,588


			Mexico – 3.0%

	797		Conproca S.A., Reg S	12.000%	6/16/10	BBB+			862,265
	6,125	MXN	Mexico Bonos de DeSarrollo	7.750%	12/14/17	A+			537,425
	1,925		Pemex Project Funding Master Trust, Reg S	4.119%	6/15/10	BBB+			1,896,221
	900		Pemex Project Funding Master Trust, 144A	5.750%	3/01/18	BBB+			856,170
	6,575	MXN	United Mexican States	8.000%	12/19/13	A+			592,265
	1,175		United Mexican States	6.750%	9/27/34	BBB+			1,183,813
	1,922		United Mexican States	6.050%	1/11/40	BBB+			1,731,722

			Total Mexico						7,659,881


			Morocco – 0.4%

	815	EUR	Kingdom of Morocco, Reg S	5.375%	6/27/17	BBB-			1,030,298


			Netherlands – 0.2%

	700		Intergas Finance B.V., Reg S	6.375%	5/14/17	Baa1			528,500


			Panama – 0.8%

	625		Republic of Panama	7.250%	3/15/15	BB+			651,563
	1,079		Republic of Panama	9.375%	4/01/29	BB+			1,343,355

			Total Panama						1,994,918


			Peru – 3.4%

	470	PEN	Republic of Peru, (8)	8.610%	3/10/10	BBB+			159,909
	2,430		Republic of Peru	9.875%	2/06/15	BBB-			2,782,350
	2,285		Republic of Peru	8.375%	5/03/16	BBB-			2,444,950
	615		Republic of Peru	8.750%	11/21/33	BBB-			734,925
	630		Republic of Peru	6.550%	3/14/37	BBB-			581,175
	2,800	PEN	Republic of Peru, Certificates of Deposit	0.000%	1/05/09	BBB-			919,968
	1,462		Republic of Peru, Enhanced Pass Thru Notes, 144A, (8)	0.000%	5/31/18	BB+			939,229

			Total Peru						8,562,506


			Philippines – 0.7%

	255		Bangko Sentral ng Pilippinas, Series A	8.600%	6/15/27	BB-			283,369
	220		National Power Corporation, Reg S	7.061%	8/23/11	BB-			225,927
	1,115		Republic of the Philippines	8.250%	1/15/14	BB-			1,204,200

			Total Philippines						1,713,496


			Qatar – 0.3%

	99		Ras Laffan Liquefied Natural Gas Co., Ltd., 144A	3.437%	9/15/09	A2			99,206
	207		Ras Laffan Liquefied Natural Gas Co., Ltd., Reg S	3.437%	9/15/09	A2			207,849
	575		Ras Laffan Liquefied Natural Gas II, Reg S	5.298%	9/30/20	A2			523,768

			Total Qatar						830,823


			Russian Federation – 2.2%

	765		Gazprom Capital S.A., 144A	7.343%	4/11/13	A3			696,150
	620		Irkut Corporation, Loan Participations, Moscow River B.V., Reg S	8.250%	4/10/09	N/R			571,330
	4,147		Russia Federation, Reg S	7.500%	3/31/30	BBB+			4,251,143

			Total Russian Federation						5,518,623


			Serbia – 0.8%

	2,500		Republic of Serbia, 144A	3.750%	11/01/24	BB-			2,143,750


			South Africa – 0.9%

	1,140		Republic of South Africa	7.375%	4/25/12	BBB+			1,169,925
	1,425		Republic of South Africa	5.875%	5/30/22	BBB+			1,216,694

			Total South Africa						2,386,619


			Trinidad and Tobago – 1.9%

	945		First Citizens Saint Lucia Limited, Reg S	5.125%	2/14/11	A1			964,209
	180		National Gas Company of Trinidad and Tobago, 144A	6.050%	1/15/36	A3			157,050
	1,325		Petroleum Company of Trinidad & Tobago Limited, 144A	6.000%	5/08/22	BBB+			1,245,765
	963		Republic of Trinidad and Tobago, Reg S	9.750%	7/01/20	A			1,266,345
	1,275		Republic of Trinidad and Tobago, Reg S	5.875%	5/17/27	A			1,262,250

			Total Trinidad and Tobago						4,895,619


			Tunisia – 1.3%

	3,215		Banque de Tunisie	7.375%	4/25/12	BBB			3,363,694


			Turkey – 0.5%

	1,160		Republic of Turkey, Government Bond	7.250%	3/15/15	BB-			1,157,100


			Ukraine – 0.7%

	1,985		Republic of Ukraine, Reg S	6.875%	3/04/11	B+			1,677,325


			United Arab Emirates – 0.2%
	435		Abu Dhabi National Energy Company, 144A	7.250%	8/01/18	Aa2			424,818


			Uruguay – 2.4%

	4,657		Oriental Republic of Uruguay	7.625%	3/21/36	BB			4,447,104
	985		Republic of Uruguay	9.250%	5/17/17	BB-			1,114,281
	480		Republic of Uruguay	8.000%	11/18/22	BB			482,400
	117		Republic of Uruguay	7.875%	1/15/33	BB			117,021

			Total Uruguay						6,160,806


			Venezuela – 0.7%

	815		Republic of Venezuela, Reg S	3.791%	4/20/11	BB-			669,724
	1,425		Republic of Venezuela	9.250%	9/15/27	BB-			1,066,606

			Total Venezuela						1,736,330

			Total Emerging Markets Debt and Foreign Corporate Bonds (cost $98,608,916)						91,337,284



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


			Short-Term Investments – 3.4% (2.2% of Total Investments)

			Sovereign Debt – 0.3%

	1,750	EGP	Egypt Republic, Treasury Bill	0.000%	10/07/08	BBB-		$	319,984
	2,150	EGP	Egypt Republic, Treasury Bill	0.000%	10/21/08	BBB-			392,033

			Total Sovereign Debt						712,017


			Repurchase Agreements – 3.1%

$	7,858		Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/30/08,	0.100%	10/01/08	N/A			7,857,922
			repurchase price $7,857,944, collateralized by $7,880,000 U.S. Treasury Notes, 4.750%, due 2/28/09, value $8,017,900

			Total Short-Term Investments (cost $8,576,801)						8,569,939

			Total Investments (cost $406,019,585) – 151.6%						382,913,462

			Other Assets Less Liabilities – (4.1)%						(10,316,109	)

			FundPreferred Shares, at Liquidation Value – (47.5)% (9)						(120,000,000	)

			Net Assets Applicable to Common Shares – 100%					$	252,597,353

Forward Foreign Currency Exchange Contracts outstanding at September 30, 2008:


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

Brazilian Real		550,000	U.S. Dollar		282,341		12/17/08	$	(2,237	)
Brazilian Real		10,440,000	U.S. Dollar		6,061,310		12/17/08		659,500
Colombian Peso		4,075,149,000	U.S. Dollar		1,919,072		10/24/08		64,165
Euro		557,000	U.S. Dollar		782,106		12/17/08		(4,573	)
Euro		192,000	U.S. Dollar		269,389		12/17/08		(1,782	)
Euro		285,000	U.S. Dollar		400,311		12/17/08		(2,208	)
Euro		333,000	U.S. Dollar		466,580		12/17/08		(3,733	)
Euro		330,000	U.S. Dollar		462,848		12/17/08		(3,227	)
Euro		328,000	U.S. Dollar		461,047		12/17/08		(2,204	)
Euro		166,000	U.S. Dollar		238,559		12/17/08		4,109
Euro		167,000	U.S. Dollar		236,626		12/17/08		763
Hungarian Forint		164,073,000	U.S. Dollar		945,666		12/17/08		(3,346	)
Indonesian Rupiah		5,605,688,000	U.S. Dollar		559,450		7/16/09		(10,335	)
Malaysian Ringgit		2,017,000	U.S. Dollar		584,638		12/17/08		(5,281	)
Malaysian Ringgit		5,251,000	U.S. Dollar		1,513,256		12/17/08		(22,522	)
Mexican Peso		4,884,000	U.S. Dollar		455,810		12/17/08		13,477
Mexican Peso		7,326,000	U.S. Dollar		683,651		12/17/08		20,151
Peruvian Nouveau Sol		2,685,000	U.S. Dollar		898,745		12/17/08		3,673
Peruvian Nouveau Sol		532,000	U.S. Dollar		178,553		12/17/08		1,206
South Korean Won		618,144,000	U.S. Dollar		614,000		7/01/09		99,070
U.S. Dollar		713,514	Brazilian Real		1,320,000		12/17/08		(30,526	)
U.S. Dollar		704,000	Brazilian Real		1,320,000		12/17/08		(21,013	)
U.S. Dollar		236,789	Euro		167,000		12/17/08		(927	)
U.S. Dollar		222,405	Euro		150,000		12/17/08		(10,552	)
U.S. Dollar		238,663	Euro		166,000		12/17/08		(4,213	)
U.S. Dollar		576,420	Indonesian Rupiah		5,605,688,000		7/16/09		(6,636	)
U.S. Dollar		924,496	Malaysian Ringgit		3,208,000		12/17/08		13,759
U.S. Dollar		1,176,810	Malaysian Ringgit		4,080,000		12/17/08		16,482
U.S. Dollar		547,515	South Korean Won		618,144,000		7/01/09		(32,585	)
U.S. Dollar		394,559	Yuan Renminbi		2,683,000		9/21/09		(7,575	)
U.S. Dollar		400,588	Yuan Renminbi		2,723,000		9/21/09		(7,835	)
U.S. Dollar		400,765	Yuan Renminbi		2,724,000		9/21/09		(7,867	)

								$	705,178


(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)		Position or portion of position represents an unfunded Senior Loan commitment outstanding at September 30, 2008. At September 30, 2008, the Fund had unfunded Senior Loan Commitments of $2,255,770.

(6)		Negative value represents unrealized depreciation on unfunded Senior Loan commitment outstanding at September 30, 2008.

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

(8)		Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees.

(9)		FundPreferred Shares, at Liquidation Value as a percentage of Total Investments is 31.3%.

N/A		Not applicable/not available.

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.

TBD		Senior Loan purchased on a when-issued or delayed-delivered 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 average coupon rate maturity date.

BRL		Brazilian Real

COP		Colombian Peso

EGP		Egyptian Pound

EUR		Euro

HUF		Hungarian Forint

MXN		Mexican Peso

PEN		Peruvian New Sol

Fair Value Measurements

During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No. 157) “Fair Value Measurements.” SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about 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 September 30, 2008:


	Level 1		Level 2		Level 3		Total

Investments	$	180,653,235	$	200,346,901	$	1,913,326	$	382,913,462
Derivatives*		—		705,178		—		705,178

Total	$	180,653,235	$	201,052,079	$	1,913,326	$	383,618,640

* 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
	Investments

Balance as of December 31, 2007	$	931,395
Gains (losses):
Net realized gains (losses)		117,849
Net change in unrealized appreciation (depreciation)		(200,417	)
Net purchases at cost (sales at proceeds)		125,270
Net discounts (premiums)		—
Net transfers in to (out of) at end of period fair value		939,229

Balance as of September 30, 2008	$	1,913,326

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. 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 September 30, 2008, the cost of investments was $407,038,825.

Gross unrealized appreciation and gross unrealized depreciation of investments at September 30, 2008, were as follows:




Gross unrealized:
Appreciation	$	30,605,882
Depreciation		(54,731,245	)



Net unrealized appreciation (depreciation) of investments	$	(24,125,363)

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 November 28, 2008

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 November 28, 2008



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

Date November 28, 2008


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