JRO
Nuveen Floating Rate Income Opportunity Fund
Portfolio of Investments April 30, 2020
(Unaudited)
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
LONG-TERM INVESTMENTS – 149.1% (94.8% of Total Investments) | ||||||||
VARIABLE RATE SENIOR LOAN INTERESTS – 134.5% (85.5% of Total Investments) (2) | ||||||||
Aerospace & Defense – 2.8% (1.8% of Total Investments) | ||||||||
$941 | MacDonald, Dettwiler and Associates, Ltd., Term Loan B | 3.160% | Prime | 1.750% | 10/04/24 | BB | $882,262 | |
4,128 | Sequa Corporation, Term Loan B | 6.742% | 3-Month LIBOR | 5.000% | 11/28/21 | B- | 3,468,941 | |
1,597 | Sequa Corporation, Term Loan, Second Lien | 10.000% | 3-Month LIBOR | 9.000% | 4/28/22 | CCC- | 1,193,733 | |
990 | Standard Aero, Term Loan B1 | 4.950% | 3-Month LIBOR | 3.500% | 4/06/26 | B2 | 876,906 | |
532 | Standard Aero, Term Loan B2 | 4.950% | 3-Month LIBOR | 3.500% | 4/06/26 | B | 471,455 | |
1,684 | Transdigm, Inc., Term Loan E | 2.654% | 1-Month LIBOR | 2.250% | 5/30/25 | Ba3 | 1,485,388 | |
1,276 | Transdigm, Inc., Term Loan F | 2.654% | 1-Month LIBOR | 2.250% | 12/09/25 | Ba3 | 1,122,333 | |
392 | Transdigm, Inc., Term Loan G | 2.654% | 1-Month LIBOR | 2.250% | 8/22/24 | Ba3 | 345,073 | |
11,540 | Total Aerospace & Defense | 9,846,091 | ||||||
Air Freight & Logistics – 0.7% (0.4% of Total Investments) | ||||||||
1,010 | PAE Holding Corporation, Term Loan B | 6.500% | 1-Month LIBOR | 5.500% | 10/20/22 | B+ | 974,892 | |
1,444 | XPO Logistics, Inc., Term Loan B | 3.613% | 3-Month LIBOR | 2.000% | 2/24/25 | BBB- | 1,401,830 | |
2,454 | Total Air Freight & Logistics | 2,376,722 | ||||||
Airlines – 1.9% (1.2% of Total Investments) | ||||||||
145 | American Airlines, Inc., Term Loan 2025 | 2.237% | 1-Month LIBOR | 1.750% | 6/27/25 | Ba1 | 103,377 | |
1,831 | American Airlines, Inc., Term Loan B | 2.438% | 1-Month LIBOR | 2.000% | 4/28/23 | BB+ | 1,432,042 | |
949 | American Airlines, Inc., Term Loan B | 2.188% | 1-Month LIBOR | 1.750% | 1/23/27 | BB+ | 689,877 | |
4,138 | American Airlines, Inc., Term Loan B | 2.814% | 1-Month LIBOR | 2.000% | 12/15/23 | Ba1 | 3,250,275 | |
750 | Delta Air Lines, Inc., Term Loan B, (WI/DD) | TBD | TBD | TBD | TBD | Baa2 | 747,735 | |
748 | WestJet Airlines, Term Loan | 4.000% | 1-Month LIBOR | 3.000% | 12/11/26 | Ba2 | 613,638 | |
8,561 | Total Airlines | 6,836,944 | ||||||
Auto Components – 1.6% (1.0% of Total Investments) | ||||||||
1,115 | DexKo Global, Inc., Term Loan B | 4.500% | 1-Month LIBOR | 3.500% | 7/24/24 | B1 | 968,985 | |
2,388 | Johnson Controls Inc., Term Loan B | 3.904% | 1-Month LIBOR | 3.500% | 4/30/26 | Ba3 | 2,171,886 | |
1,347 | Superior Industries International, Inc., Term Loan B | 4.404% | 1-Month LIBOR | 4.000% | 5/22/24 | B1 | 1,097,986 | |
1,398 | Trico Group, LLC, Initial Term Loan, First Lien | 8.450% | 3-Month LIBOR | 7.000% | 2/02/24 | B3 | 1,309,141 | |
6,248 | Total Auto Components | 5,547,998 | ||||||
Automobiles – 0.4% (0.3% of Total Investments) | ||||||||
787 | Caliber Collision, Term Loan B | 4.072% | 6-Month LIBOR | 3.000% | 2/05/26 | B1 | 705,778 |
1
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Automobiles (continued) | ||||||||
$977 | Navistar, Inc., Term Loan B | 4.220% | 1-Month LIBOR | 3.500% | 11/06/24 | Ba2 | $892,736 | |
1,764 | Total Automobiles | 1,598,514 | ||||||
Beverages – 0.6% (0.4% of Total Investments) | ||||||||
2,216 | Jacobs Douwe Egberts, Term Loan B | 3.000% | 1-Month LIBOR | 2.000% | 11/01/25 | Ba1 | 2,172,921 | |
Biotechnology – 0.7% (0.5% of Total Investments) | ||||||||
2,697 | Grifols, Inc., Term Loan B, First Lien | 2.137% | 1-Week LIBOR | 2.000% | 11/15/27 | BB+ | 2,620,464 | |
Building Products – 1.7% (1.1% of Total Investments) | ||||||||
306 | Fairmount, Initial Term Loan | 5.387% | 3-Month LIBOR | 4.000% | 6/01/25 | CCC+ | 145,143 | |
641 | Ply Gem Industries, Inc., Term Loan B | 4.579% | 1-Month LIBOR | 3.750% | 4/12/25 | B+ | 555,460 | |
5,621 | Quikrete Holdings, Inc., Term Loan B | 2.904% | 1-Month LIBOR | 2.500% | 1/29/27 | BB- | 5,253,014 | |
6,568 | Total Building Products | 5,953,617 | ||||||
Capital Markets – 1.4% (0.9% of Total Investments) | ||||||||
898 | Advisor Group Holdings, Inc., Initial Term Loan B | 5.404% | 1-Month LIBOR | 5.000% | 7/31/26 | B2 | 742,246 | |
1,970 | Distributed Power, Term Loan B | 3.959% | 6-Month LIBOR | 2.750% | 10/31/25 | B | 1,595,700 | |
5 | Distributed Power, Term Loan B | 4.093% | 3-Month LIBOR | 2.750% | 10/31/25 | B | 4,050 | |
666 | RPI Finance Trust, Term Loan B1 | 2.154% | 1-Month LIBOR | 1.750% | 2/11/27 | BBB- | 650,481 | |
1,850 | RPI Finance Trust, Term Loan B1 | 2.154% | 1-Month LIBOR | 1.750% | 2/11/27 | BBB- | 1,802,470 | |
5,389 | Total Capital Markets | 4,794,947 | ||||||
Chemicals – 0.3% (0.2% of Total Investments) | ||||||||
877 | Ineos US Finance LLC, Term Loan | 2.404% | 1-Month LIBOR | 2.000% | 4/01/24 | BB+ | 832,999 | |
293 | Mineral Technologies, Inc., Term Loan B2 | 4.750% | N/A | N/A | 5/07/21 | BB+ | 289,153 | |
1,170 | Total Chemicals | 1,122,152 | ||||||
Commercial Services & Supplies – 3.7% (2.4% of Total Investments) | ||||||||
1,408 | ADS Waste Holdings, Inc., Term Loan B, (DD1) | 3.000% | 1-Week LIBOR | 2.250% | 11/10/23 | BB+ | 1,395,563 | |
335 | Brand Energy & Infrastructure Services, Inc., Term Loan B, First Lien | 5.455% | 3-Month LIBOR | 4.250% | 6/21/24 | B- | 285,488 | |
4 | Education Management LLC, Elevated Term Loan A2, (5) | 7.402% | 6-Month LIBOR | 5.500% | 7/02/20 | N/R | 0 | |
217 | Education Management LLC, Term Loan A, (5) | 0.000% | N/A | N/A | 7/02/20 | N/R | 2,172 | |
6,196 | Formula One Group, Term Loan B | 3.500% | 1-Month LIBOR | 2.500% | 2/01/24 | B+ | 5,705,621 | |
1,000 | Fort Dearborn Holding Company, Inc., Term Loan, Second Lien | 9.516% | 6-Month LIBOR | 8.500% | 10/21/24 | CCC | 902,500 | |
721 | Garda World Security Corp, Term Loan B, First Lien | 6.390% | 3-Month LIBOR | 4.750% | 10/30/26 | B1 | 700,339 | |
948 | GFL Environmental, Term Loan | 4.000% | 1-Month LIBOR | 3.000% | 5/30/25 | Ba3 | 934,413 | |
1,116 | Harland Clarke Holdings Corporation, Term Loan B7 | 6.463% | 2-Month LIBOR | 4.750% | 11/03/23 | CCC+ | 721,895 |
2
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Commercial Services & Supplies (continued) | ||||||||
$1,313 | iQor US, Inc., Term Loan, First Lien | 6.433% | 3-Month LIBOR | 5.000% | 4/01/21 | Caa1 | $806,840 | |
333 | iQor US, Inc., Term Loan, Second Lien | 10.183% | 3-Month LIBOR | 8.750% | 4/01/22 | Caa3 | 65,000 | |
349 | KAR Auction Services, Inc., Term Loan B6 | 2.875% | 1-Month LIBOR | 2.250% | 9/19/26 | Ba3 | 318,836 | |
1,173 | Robertshaw US Holding Corp., Initial Term Loan, First Lien | 4.250% | 6-Month LIBOR | 3.250% | 2/28/25 | B3 | 861,353 | |
3 | Robertshaw US Holding Corp., Initial Term Loan, First Lien | 4.250% | 3-Month LIBOR | 3.250% | 2/28/25 | B3 | 2,209 | |
3 | Robertshaw US Holding Corp., Initial Term Loan, First Lien | 4.250% | 1-Month LIBOR | 3.250% | 2/28/25 | B3 | 2,209 | |
210 | Sabert Corporation, Initial Term Loan | 5.500% | 1-Month LIBOR | 4.500% | 12/10/26 | B | 200,049 | |
252 | West Corporation, Incremental Term Loan B1 | 4.950% | 3-Month LIBOR | 3.500% | 10/10/24 | B2 | 198,018 | |
15,581 | Total Commercial Services & Supplies | 13,102,505 | ||||||
Communications Equipment – 3.7% (2.4% of Total Investments) | ||||||||
5,193 | Avaya, Inc., Term Loan B | 5.064% | 1-Month LIBOR | 4.250% | 12/15/24 | B | 4,597,930 | |
4,423 | CommScope, Inc., Term Loan B | 3.654% | 1-Month LIBOR | 3.250% | 4/06/26 | Ba3 | 4,194,839 | |
884 | Mitel US Holdings, Inc., Term Loan, First Lien | 5.493% | 1-Month LIBOR | 4.500% | 11/30/25 | B2 | 642,053 | |
235 | Plantronics, Term Loan B | 3.572% | 6-Month LIBOR | 2.500% | 7/02/25 | Ba2 | 194,468 | |
1,558 | Plantronics, Term Loan B | 2.904% | 1-Month LIBOR | 2.500% | 7/02/25 | Ba2 | 1,292,323 | |
520 | Riverbed Technology, Inc., Term Loan B, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | B2 | 421,039 | |
2,120 | Univision Communications, Inc., Term Loan C5 | 3.750% | 1-Month LIBOR | 2.750% | 3/15/24 | B | 1,875,688 | |
14,933 | Total Communications Equipment | 13,218,340 | ||||||
Construction & Engineering – 0.4% (0.2% of Total Investments) | ||||||||
1,734 | Traverse Midstream Partners, Term Loan B | 5.000% | 1-Month LIBOR | 4.000% | 9/27/24 | B+ | 1,324,480 | |
Consumer Finance – 0.7% (0.5% of Total Investments) | ||||||||
228 | American Express Global Business Travel, Delayed Draw, Term Loan, (WI/DD) | TBD | TBD | TBD | TBD | B+ | 203,949 | |
272 | American Express Global Business Travel, Term Loan B, (WI/DD) | TBD | TBD | TBD | TBD | B+ | 243,551 | |
2,196 | Verscend Technologies, Tern Loan B | 4.904% | 1-Month LIBOR | 4.500% | 8/27/25 | B+ | 2,081,182 | |
2,696 | Total Consumer Finance | 2,528,682 | ||||||
Containers & Packaging – 0.8% (0.5% of Total Investments) | ||||||||
498 | Berry Global, Inc., Term Loan W | 2.829% | 1-Month LIBOR | 2.000% | 10/01/22 | BBB- | 487,459 | |
1,985 | Berry Global, Inc., Term Loan Y | 2.829% | 1-Month LIBOR | 2.000% | 7/01/26 | BBB- | 1,902,642 | |
502 | Reynolds Group Holdings, Inc., Term Loan, First Lien | 2.154% | 1-Month LIBOR | 1.750% | 2/04/27 | BB+ | 485,528 | |
2,985 | Total Containers & Packaging | 2,875,629 |
3
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Distributors – 0.3% (0.2% of Total Investments) | ||||||||
$262 | Insurance Auto Actions Inc., Term Loan | 2.688% | 1-Month LIBOR | 2.250% | 6/28/26 | BB | $251,373 | |
958 | SRS Distribution, Inc., Term Loan B | 4.322% | 6-Month LIBOR | 3.250% | 5/23/25 | B3 | 866,055 | |
1,220 | Total Distributors | 1,117,428 | ||||||
Diversified Consumer Services – 1.6% (1.0% of Total Investments) | ||||||||
4,896 | Cengage Learning Acquisitions, Inc., Term Loan B | 5.250% | 6-Month LIBOR | 4.250% | 6/07/23 | B | 3,791,298 | |
148 | Education Management LLC, Elevated Term Loan B, (5) | 7.734% | 6-Month LIBOR | 5.500% | 7/02/20 | N/R | 1,849 | |
1,766 | Refinitiv, Term Loan B, (DD1) | 3.654% | 1-Month LIBOR | 3.250% | 10/01/25 | B | 1,732,381 | |
6,810 | Total Diversified Consumer Services | 5,525,528 | ||||||
Diversified Financial Services – 2.0% (1.3% of Total Investments) | ||||||||
1,489 | Blackstone CQP, Term Loan | 4.616% | 3-Month LIBOR | 3.500% | 9/30/24 | B+ | 1,377,094 | |
2,448 | Ditech Holding Corporation., Term Loan B, First Lien, (5) | 0.000% | N/A | N/A | 6/30/22 | D | 987,286 | |
2,187 | Inmarsat Finance, Term Loan, First Lien | 5.500% | N/A | 5.500% | 12/11/26 | B+ | 2,030,733 | |
505 | Lions Gate Entertainment Corp., Term Loan B | 2.654% | 1-Month LIBOR | 2.250% | 3/24/25 | Ba2 | 472,055 | |
929 | Sotheby's, Term Loan B | 6.500% | 1-Month LIBOR | 5.500% | 1/15/27 | B+ | 828,748 | |
2,125 | Travelport LLC, Term Loan B | 6.072% | 6-Month LIBOR | 5.000% | 5/29/26 | B+ | 1,315,134 | |
9,683 | Total Diversified Financial Services | 7,011,050 | ||||||
Diversified Telecommunication Services – 4.6% (2.9% of Total Investments) | ||||||||
698 | Altice France S.A., Term Loan B12 | 4.502% | 1-Month LIBOR | 3.687% | 1/31/26 | B+ | 650,475 | |
6,258 | CenturyLink, Inc, Term Loan B | 2.654% | 1-Month LIBOR | 2.250% | 3/15/27 | BBB- | 5,945,133 | |
4,363 | Frontier Communications Corporation, Term Loan B, (5) | 5.350% | 6-Month LIBOR | 3.750% | 1/14/22 | D | 4,265,960 | |
15 | Frontier Communications Corporation, Term Loan B, (5) | 5.210% | 3-Month LIBOR | 3.750% | 1/14/22 | D | 14,256 | |
383 | Intelsat Jackson Holdings, S.A., Term Loan B4, (5) | 6.750% | 1-Month LIBOR | 4.500% | 1/02/24 | B | 380,922 | |
614 | Intelsat Jackson Holdings, S.A., Term Loan B5, (5) | 6.625% | N/A | N/A | 1/02/24 | B | 614,427 | |
3,844 | Numericable Group S.A., Term Loan B13 | 4.814% | 1-Month LIBOR | 4.000% | 8/14/26 | B | 3,600,650 | |
870 | Windstream Corporation, Term Loan, (DD1), (5) | 6.250% | Prime | 3.000% | 4/24/20 | D | 498,797 | |
420 | Zayo Group LLC, Initial Dollar Term Loan | 3.404% | 1-Month LIBOR | 3.000% | 3/09/27 | B1 | 395,810 | |
17,465 | Total Diversified Telecommunication Services | 16,366,430 | ||||||
Electric Utilities – 0.5% (0.3% of Total Investments) | ||||||||
886 | ExGen Renewables, Term Loan | 4.620% | 3-Month LIBOR | 3.000% | 11/28/24 | B | 856,855 | |
906 | Vistra Operations Co., Term Loan B3 | 2.501% | 1-Month LIBOR | 1.750% | 12/31/25 | BBB- | 880,851 | |
1,792 | Total Electric Utilities | 1,737,706 |
4
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Electrical Equipment – 1.1% (0.7% of Total Investments) | ||||||||
$3,309 | Avolon LLC, Term Loan B4 | 2.250% | 1-Month LIBOR | 1.500% | 2/12/27 | Baa2 | $3,092,773 | |
1,000 | Vertiv Co.,Term Loan B | 3.993% | 1-Month LIBOR | 3.000% | 3/02/27 | B+ | 945,000 | |
4,309 | Total Electrical Equipment | 4,037,773 | ||||||
Electronic Equipment, Instruments & Components – 0.4% (0.3% of Total Investments) | ||||||||
1,625 | TTM Technologies, Inc., Term Loan B | 3.485% | 1-Month LIBOR | 2.500% | 9/28/24 | BB+ | 1,596,497 | |
Energy Equipment & Services – 0.1% (0.1% of Total Investments) | ||||||||
651 | Petroleum GEO-Services ASA/PGS Finance, Inc., Term Loan B | 8.460% | 3-Month LIBOR | 7.000% | 3/19/24 | B3 | 369,143 | |
Entertainment – 0.5% (0.3% of Total Investments) | ||||||||
1,509 | AMC Entertainment, Inc., Term Loan B | 4.080% | 6-Month LIBOR | 3.000% | 4/22/26 | B3 | 1,117,215 | |
799 | Springer SBM Two GmbH, Term Loan B16 | 4.500% | 1-Month LIBOR | 3.500% | 8/14/24 | B+ | 761,825 | |
2,308 | Total Entertainment | 1,879,040 | ||||||
Equity Real Estate Investment Trust – 0.5% (0.3% of Total Investments) | ||||||||
950 | Realogy Group LLC, Term Loan A | 3.243% | 1-Month LIBOR | 2.250% | 2/08/23 | Ba1 | 848,668 | |
1,238 | Realogy Group LLC, Term Loan B | 3.243% | 1-Month LIBOR | 2.250% | 2/08/25 | BB | 1,048,297 | |
2,188 | Total Equity Real Estate Investment Trust | 1,896,965 | ||||||
Financials – 0.1% (0.0% of Total Investments) | ||||||||
315 | Red Ventures, Term Loan B | 2.904% | 1-Month LIBOR | 2.500% | 11/08/24 | BB- | 292,994 | |
Food & Staples Retailing – 2.8% (1.8% of Total Investments) | ||||||||
1,234 | BellRing Brands, Term Loan, First Lien | 6.000% | 1-Month LIBOR | 5.000% | 10/21/24 | B+ | 1,223,963 | |
878 | BJ's Wholesale Club, Inc., Term Loan, First Lien | 3.079% | 1-Month LIBOR | 2.250% | 2/03/24 | BB- | 857,215 | |
775 | Hearthside Group Holdings LLC, Term Loan B | 4.091% | 1-Month LIBOR | 3.688% | 5/23/25 | B | 717,835 | |
7,485 | US Foods, Inc., New Term Loan, (DD1) | 2.154% | 6-Month LIBOR | 1.750% | 6/27/23 | BB+ | 6,945,988 | |
10,372 | Total Food & Staples Retailing | 9,745,001 | ||||||
Food Products – 0.5% (0.3% of Total Investments) | ||||||||
891 | American Seafoods Group LLC, Term Loan B | 4.120% | 3-Month LIBOR | 2.750% | 8/21/23 | BB- | 856,334 | |
1,000 | Froneri Lux FinCo SARL, Term Loan, First Lien | 2.250% | 1-Month LIBOR | 2.250% | 1/29/27 | B+ | 930,835 | |
1,891 | Total Food Products | 1,787,169 | ||||||
Health Care Equipment & Supplies – 0.7% (0.5% of Total Investments) | ||||||||
817 | Greatbatch Ltd., New Term Loan B | 3.500% | 1-Month LIBOR | 2.500% | 10/27/22 | B+ | 800,537 | |
1,153 | MedPlast, Term Loan, First Lien | 5.200% | 3-Month LIBOR | 3.750% | 7/02/25 | B3 | 864,479 | |
1,074 | Vyaire Medical, Inc., Term Loan B | 6.201% | 3-Month LIBOR | 4.750% | 4/16/25 | B3 | 893,730 | |
3,044 | Total Health Care Equipment & Supplies | 2,558,746 |
5
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Health Care Providers & Services – 8.3% (5.3% of Total Investments) | ||||||||
$3,077 | Air Medical Group Holdings, Inc., Term Loan B | 4.250% | 1-Month LIBOR | 3.250% | 4/28/22 | B1 | $2,857,417 | |
596 | Air Methods, Term Loan, First Lien | 4.950% | 3-Month LIBOR | 3.500% | 4/22/24 | B | 452,693 | |
1,209 | Ardent Health, Term Loan, First Lien | 5.500% | 1-Month LIBOR | 4.500% | 6/30/25 | B1 | 1,131,809 | |
1,790 | Brightspring Health, Term Loan B | 4.079% | 1-Month LIBOR | 3.250% | 3/05/26 | B1 | 1,675,645 | |
990 | Catalent Pharma Solutions, Inc., Dollar Term Loan B2 | 3.250% | 1-Month LIBOR | 2.250% | 5/18/26 | BB+ | 974,734 | |
246 | Civitas Solutions, Term Loan B | 5.710% | 3-Month LIBOR | 4.250% | 3/09/26 | B | 233,868 | |
625 | Civitas Solutions, Term Loan B | 4.660% | 1-Month LIBOR | 4.250% | 3/09/26 | B | 594,202 | |
49 | Civitas Solutions, Term Loan C | 5.860% | 3-Month LIBOR | 4.000% | 3/09/26 | B | 46,497 | |
511 | DaVita, Inc., Term Loan B | 2.154% | 1-Month LIBOR | 1.750% | 8/12/26 | BBB- | 499,253 | |
3,866 | Envision Healthcare Corporation, Initial Term Loan | 4.154% | 1-Month LIBOR | 3.750% | 10/10/25 | B | 2,681,106 | |
380 | HCA, Inc., Term Loan B12 | 2.154% | 1-Month LIBOR | 1.750% | 3/13/25 | BBB- | 372,376 | |
605 | HCA, Inc., Term Loan B13 | 2.154% | 1-Month LIBOR | 1.750% | 3/18/26 | BBB- | 591,965 | |
598 | Heartland Dental Care, Inc., Term Loan, First Lien | 3.904% | 1-Month LIBOR | 3.500% | 4/30/25 | B3 | 501,111 | |
741 | InnovaCare, Initial Term Loan | 6.750% | 1-Month LIBOR | 5.750% | 12/24/26 | B+ | 702,975 | |
711 | Jordan Health, Initial Term Loan, First Lien | 6.615% | 3-Month LIBOR | 5.000% | 5/15/25 | Caa1 | 444,943 | |
2,937 | Kindred at Home Hospice, Term Loan B, First Lien | 3.688% | 1-Month LIBOR | 3.250% | 7/02/25 | B1 | 2,782,576 | |
4,075 | Lifepoint Health, Inc., New Term Loan B | 4.154% | 1-Month LIBOR | 3.750% | 11/16/25 | B+ | 3,794,469 | |
1,298 | Millennium Laboratories, Inc., Term Loan B, First Lien, (5) | 0.000% | N/A | N/A | 12/21/20 | C | 441,311 | |
4,074 | Pharmaceutical Product Development, Inc., Term Loan B, (DD1) | 2.904% | 1-Month LIBOR | 2.500% | 8/18/22 | Ba2 | 4,005,067 | |
191 | Quorum Health Corp., Term Loan B, (5) | 7.750% | 1-Month LIBOR | 6.750% | 4/29/22 | Caa3 | 168,266 | |
2,716 | Select Medical Corporation, Term Loan B | 3.070% | 1-Month LIBOR | 2.500% | 3/06/25 | Ba2 | 2,599,719 | |
2,145 | Team Health, Inc., Initial Term Loan | 3.750% | 1-Month LIBOR | 2.750% | 2/06/24 | B- | 1,593,128 | |
33,430 | Total Health Care Providers & Services | 29,145,130 | ||||||
Health Care Technology – 3.0% (1.9% of Total Investments) | ||||||||
5,175 | Emdeon, Inc., Term Loan | 3.500% | 3-Month LIBOR | 2.500% | 3/01/24 | B+ | 5,002,350 | |
2,225 | Onex Carestream Finance LP, Term Loan, First Lien | 7.322% | 6-Month LIBOR | 6.250% | 2/28/21 | B1 | 2,045,226 | |
2,268 | Onex Carestream Finance LP, Term Loan, Second Lien, (cash 10.572%, PIK 1.000%) | 11.572% | 6-Month LIBOR | 10.500% | 6/07/21 | CCC+ | 1,984,492 | |
1,796 | Zelis, Term Loan B | 5.154% | 1-Month LIBOR | 4.750% | 9/30/26 | B | 1,732,433 | |
11,464 | Total Health Care Technology | 10,764,501 | ||||||
Hotels, Restaurants & Leisure – 17.8% (11.3% of Total Investments) | ||||||||
1,512 | 24 Hour Fitness Worldwide, Inc., Term Loan B | 4.950% | 3-Month LIBOR | 3.500% | 5/30/25 | B- | 418,654 |
6
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Hotels, Restaurants & Leisure (continued) | ||||||||
$3,025 | Alterra Mountain Company, Term Loan B, First Lien | 3.154% | 1-Month LIBOR | 2.750% | 7/31/24 | B1 | $2,818,977 | |
933 | Aramark Corporation, Term Loan | 2.154% | 1-Month LIBOR | 1.750% | 3/11/25 | BBB- | 879,179 | |
385 | Arby's Restaurant Group, Inc., Term Loan B | 3.750% | 6-Month LIBOR | 2.750% | 2/05/25 | B | 339,027 | |
1 | Arby's Restaurant Group, Inc., Term Loan B | 3.954% | 3-Month LIBOR | 2.750% | 2/05/25 | B | 867 | |
15,788 | Burger King Corporation, Term Loan B4 | 2.154% | 1-Month LIBOR | 1.750% | 11/19/26 | BB+ | 14,897,887 | |
6,777 | Caesars Entertainment Operating Company, Inc., Term Loan B | 2.404% | 1-Month LIBOR | 2.000% | 10/06/24 | BB | 6,577,971 | |
7,732 | Caesars Resort Collection, Term Loan, First Lien | 3.154% | 1-Month LIBOR | 2.750% | 12/23/24 | BB | 6,572,242 | |
750 | CCM Merger, Inc., Term Loan B | 3.000% | 1-Month LIBOR | 2.250% | 8/09/21 | BB- | 703,954 | |
3,216 | CityCenter Holdings LLC, Term Loan B | 3.000% | 1-Month LIBOR | 2.250% | 4/18/24 | BB- | 2,858,252 | |
2,445 | ClubCorp Operations, Inc., Term Loan B | 4.200% | 3-Month LIBOR | 2.750% | 9/18/24 | B- | 1,830,412 | |
2,873 | Equinox Holdings, Inc., Term Loan B1 | 4.072% | 6-Month LIBOR | 3.000% | 3/08/24 | B3 | 2,292,987 | |
968 | Four Seasons Holdings, Inc., Term Loan B | 2.404% | 1-Month LIBOR | 2.000% | 11/30/23 | BB | 905,623 | |
4,246 | Hilton Hotels, Term Loan B2 | 2.237% | 1-Month LIBOR | 1.750% | 6/22/26 | BBB- | 4,048,466 | |
2,412 | Life Time Fitness, Inc., Term Loan B | 4.363% | 3-Month LIBOR | 2.750% | 6/10/22 | BB- | 2,067,173 | |
659 | PCI Gaming, Term Loan, First Lien | 2.904% | 1-Month LIBOR | 2.500% | 5/31/26 | BB+ | 615,827 | |
1,105 | Scientific Games Corp., Initial Term Loan B5 | 3.154% | 1-Month LIBOR | 2.750% | 8/14/24 | B+ | 919,428 | |
4,516 | Scientific Games Corp., Initial Term Loan B5 | 3.612% | 6-Month LIBOR | 2.750% | 8/14/24 | B+ | 3,758,393 | |
29 | Scientific Games Corp., Initial Term Loan B5 | 3.453% | 2-Month LIBOR | 2.750% | 8/14/24 | B+ | 23,989 | |
6,774 | Stars Group Holdings, Term Loan B, (DD1) | 4.950% | 3-Month LIBOR | 3.500% | 7/10/25 | B+ | 6,757,216 | |
2,198 | Station Casinos LLC, Term Loan B | 2.660% | 1-Month LIBOR | 2.250% | 2/08/27 | BB- | 1,951,459 | |
1,477 | Wyndham International, Inc., Term Loan B | 2.154% | 1-Month LIBOR | 1.750% | 5/30/25 | Baa3 | 1,364,841 | |
69,821 | Total Hotels, Restaurants & Leisure | 62,602,824 | ||||||
Household Durables – 0.3% (0.2% of Total Investments) | ||||||||
1,195 | Apex Tool Group LLC, Third Amendment Term Loan | 6.500% | 1-Month LIBOR | 5.250% | 8/01/24 | B2 | 968,763 | |
258 | Serta Simmons Holdings LLC, Term Loan, First Lien | 4.610% | 3-Month LIBOR | 3.500% | 11/08/23 | CCC- | 118,790 | |
1,453 | Total Household Durables | 1,087,553 | ||||||
Household Products – 0.9% (0.5% of Total Investments) | ||||||||
2,650 | KIK Custom Products Inc., Term Loan B2, (DD1) | 5.000% | 1-Month LIBOR | 4.000% | 5/15/23 | B3 | 2,390,141 | |
721 | Reynolds Group Holdings, Inc., Term Loan, First Lien | 3.154% | 1-Month LIBOR | 2.750% | 2/05/23 | B+ | 689,340 | |
3,371 | Total Household Products | 3,079,481 |
7
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Industrial Conglomerates – 0.3% (0.2% of Total Investments) | ||||||||
$3 | Education Adisory Board, Term Loan, First Lien | 4.750% | 1-Month LIBOR | 3.750% | 11/15/24 | B2 | $2,363 | |
977 | Education Adisory Board, Term Loan, First Lien | 4.885% | 3-Month LIBOR | 3.750% | 11/15/24 | B2 | 923,737 | |
980 | Total Industrial Conglomerates | 926,100 | ||||||
Insurance – 2.1% (1.3% of Total Investments) | ||||||||
1,849 | Acrisure LLC, Term Loan B | 5.207% | 3-Month LIBOR | 3.500% | 2/15/27 | B | 1,717,306 | |
2,561 | Alliant Holdings I LLC, Term Loan B | 3.154% | 1-Month LIBOR | 2.750% | 5/09/25 | B | 2,408,266 | |
1,155 | Asurion LLC, Term Loan B6 | 3.404% | 1-Month LIBOR | 3.000% | 11/03/23 | Ba3 | 1,107,936 | |
2,186 | Hub International Holdings, Inc., Term Loan B | 4.020% | 2-Month LIBOR | 2.750% | 4/25/25 | B | 2,057,757 | |
7,751 | Total Insurance | 7,291,265 | ||||||
Interactive Media & Services – 1.9% (1.2% of Total Investments) | ||||||||
5,539 | Rackspace Hosting, Inc., Refinancing Term Loan B, First Lien | 4.763% | 3-Month LIBOR | 3.000% | 11/03/23 | B+ | 5,225,240 | |
1,481 | WeddingWire, Inc., Term Loan | 5.950% | 3-Month LIBOR | 4.500% | 12/19/25 | B+ | 1,322,016 | |
7,020 | Total Interactive Media & Services | 6,547,256 | ||||||
Internet & Direct Marketing Retail – 0.7% (0.4% of Total Investments) | ||||||||
2,031 | Uber Technologies, Inc., Term Loan | 6.250% | Prime | 3.000% | 4/04/25 | B1 | 1,928,933 | |
566 | Uber Technologies, Inc., Term Loan | 3.904% | 1-Month LIBOR | 3.500% | 7/13/23 | B1 | 536,871 | |
2,597 | Total Internet & Direct Marketing Retail | 2,465,804 | ||||||
Internet Software & Services – 0.7% (0.4% of Total Investments) | ||||||||
1,448 | Ancestry.com, Inc., Term Loan, First Lien | 4.750% | 1-Month LIBOR | 3.750% | 10/19/23 | B | 1,331,962 | |
971 | Dynatrace LLC, Term Loan, First Lien | 2.654% | 1-Month LIBOR | 2.250% | 8/23/25 | B1 | 945,977 | |
1,913 | SkillSoft Corporation, Term Loan, Second Lien, (5) | 10.027% | N/A | N/A | 4/28/22 | CCC | 197,023 | |
4,332 | Total Internet Software & Services | 2,474,962 | ||||||
IT Services – 4.2% (2.7% of Total Investments) | ||||||||
2,382 | Datto, Inc., Term Loan | 4.654% | 1-Month LIBOR | 4.250% | 4/02/26 | B | 2,250,990 | |
667 | DTI Holdings, Inc., Replacement Term Loan B1 | 5.750% | 3-Month LIBOR | 4.750% | 9/29/23 | CCC+ | 509,525 | |
975 | KBR, Inc., New Term Loan B | 3.154% | 1-Month LIBOR | 2.750% | 2/05/27 | Ba1 | 954,891 | |
500 | Optiv Security, Inc., Term Loan, Second Lien | 8.250% | 1-Month LIBOR | 7.250% | 1/31/25 | Caa3 | 305,625 | |
3,578 | Sabre, Inc., Term Loan B | 2.404% | 1-Month LIBOR | 2.000% | 2/22/24 | Ba3 | 3,299,441 | |
706 | Science Applications International Corporation, Term Loan B | 2.362% | 1-Month LIBOR | 1.875% | 10/31/25 | BB+ | 690,910 | |
3,500 | Syniverse Holdings, Inc., Initial Term Loan, Second Lien | 10.873% | 6-Month LIBOR | 9.000% | 3/11/24 | CCC- | 1,394,102 | |
2,014 | Syniverse Holdings, Inc., Term Loan C | 6.873% | 6-Month LIBOR | 5.000% | 3/09/23 | CCC+ | 1,421,055 | |
1,702 | Tempo Acquisition LLC, Term Loan B | 3.154% | 1-Month LIBOR | 2.750% | 5/01/24 | B1 | 1,609,344 |
8
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
IT Services (continued) | ||||||||
$1,980 | West Corporation, Term Loan B | 5.450% | 3-Month LIBOR | 4.000% | 10/10/24 | B2 | $1,565,853 | |
963 | WEX, Inc., Term Loan B3 | 2.654% | 1-Month LIBOR | 2.250% | 5/15/26 | Ba2 | 913,914 | |
18,967 | Total IT Services | 14,915,650 | ||||||
Life Sciences Tools & Services – 0.9% (0.6% of Total Investments) | ||||||||
291 | Inventiv Health, Inc., Term Loan B | 2.154% | 1-Month LIBOR | 1.750% | 8/01/24 | BB | 282,984 | |
3,061 | Parexel International Corp., Term Loan B | 3.154% | 1-Month LIBOR | 2.750% | 9/27/24 | B2 | 2,820,836 | |
3,352 | Total Life Sciences Tools & Services | 3,103,820 | ||||||
Machinery – 1.1% (0.7% of Total Investments) | ||||||||
1,738 | Gardner Denver, Inc., Extended Term Loan B | 2.154% | 1-Month LIBOR | 1.750% | 3/01/27 | BB+ | 1,658,728 | |
1,029 | Gates Global LLC, Term Loan B | 3.750% | 1-Month LIBOR | 2.750% | 4/01/24 | B+ | 952,771 | |
1,958 | TNT Crane and Rigging Inc., Initial Term Loan, First Lien, (5) | 0.000% | N/A | N/A | 11/27/20 | Caa3 | 1,028,183 | |
650 | TNT Crane and Rigging, Inc., Term Loan, Second Lien, (5) | 0.000% | N/A | N/A | 11/26/21 | C | 113,750 | |
5,375 | Total Machinery | 3,753,432 | ||||||
Marine – 0.4% (0.2% of Total Investments) | ||||||||
8 | American Commercial Lines LLC, Term Loan B, First Lien, (5) | 11.000% | Prime | 7.750% | 11/12/20 | N/R | 2,536 | |
511 | American Commercial Lines LLC, Term Loan B, First Lien, (5) | 9.750% | 3-Month LIBOR | 8.750% | 11/12/20 | N/R | 164,817 | |
2,007 | Harvey Gulf International Marine, Inc., Exit Term Loan | 7.713% | 3-Month LIBOR | 6.000% | 7/02/23 | B- | 1,139,102 | |
2,526 | Total Marine | 1,306,455 | ||||||
Media – 17.1% (10.9% of Total Investments) | ||||||||
338 | Advantage Sales & Marketing, Inc., Term Loan B2, First Lien | 4.700% | 3-Month LIBOR | 3.250% | 7/23/21 | B2 | 294,711 | |
1,261 | Advantage Sales & Marketing, Inc., Term Loan, First Lien | 4.700% | 3-Month LIBOR | 3.250% | 7/23/21 | B2 | 1,088,856 | |
498 | Affinion Group Holdings, Inc., Consenting Term Loan, (cash 3.250%, PIK 1.750%) | 6.750% | 3-Month LIBOR | 4.000% | 4/10/24 | N/R | 362,516 | |
505 | Catalina Marketing Corporation, First Out Term Loan | 8.500% | 1-Month LIBOR | 7.500% | 2/15/23 | B2 | 308,213 | |
693 | Catalina Marketing Corporation, Last Out Term Loan, (cash 2.000%, PIK 9.500%) | 2.000% | 1-Month LIBOR | 1.000% | 8/15/23 | Caa2 | 155,839 | |
323 | CBS Radio, Inc., Term Loan B2 | 2.904% | 1-Month LIBOR | 2.500% | 11/18/24 | BB- | 287,813 | |
4,481 | Cequel Communications LLC, Term Loan B | 3.064% | 1-Month LIBOR | 2.250% | 1/15/26 | BB | 4,287,362 | |
3,767 | Charter Communications Operating Holdings LLC, Term Loan B2 | 2.160% | 1-Month LIBOR | 1.750% | 2/01/27 | BBB- | 3,635,535 | |
1,470 | Cineworld Group PLC, Incremental Term Loan, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | BB- | 896,700 |
9
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Media (continued) | ||||||||
$2,126 | Cineworld Group PLC, Term Loan B | 3.322% | 6-Month LIBOR | 2.250% | 2/28/25 | B | $1,363,935 | |
7,391 | Clear Channel Outdoor Holdings, Inc., Term Loan B | 4.260% | 3-Month LIBOR | 3.500% | 8/21/26 | B+ | 6,458,142 | |
19 | Clear Channel Outdoor Holdings, Inc., Term Loan B | 4.203% | 2-Month LIBOR | 3.500% | 8/21/26 | B+ | 16,267 | |
239 | Cox Media/Terrier Media, Term Loan, First Lien | 5.700% | 3-Month LIBOR | 4.250% | 12/17/26 | BB- | 223,809 | |
1,620 | CSC Holdings LLC, Refinancing Term Loan, (DD1) | 3.064% | 1-Month LIBOR | 2.250% | 7/17/25 | BB | 1,555,974 | |
2,373 | CSC Holdings, LLC, Term Loan B5 | 3.314% | 1-Month LIBOR | 2.500% | 4/15/27 | BB | 2,280,446 | |
1,610 | Cumulus Media, Inc., Term Loan B | 4.822% | 6-Month LIBOR | 3.750% | 3/31/26 | B2 | 1,373,914 | |
742 | EW Scripps, Term Loan B2 | 2.904% | 1-Month LIBOR | 2.500% | 5/01/26 | BB- | 699,267 | |
553 | Gray Television, Inc., Term Loan B2 | 3.243% | 1-Month LIBOR | 2.250% | 2/07/24 | BB | 529,351 | |
637 | Gray Television, Inc., Term Loan C | 3.493% | 1-Month LIBOR | 2.500% | 1/02/26 | BB | 604,310 | |
617 | Houghton Mifflin Harcourt, Term Loan | 7.250% | 1-Month LIBOR | 6.250% | 11/22/24 | B | 547,078 | |
5,406 | iHeartCommunications Inc., Term Loan B | 3.404% | 1-Month LIBOR | 3.000% | 5/01/26 | B+ | 4,878,736 | |
959 | IMG Worldwide, Inc., Term Loan B | 3.237% | 1-Month LIBOR | 2.750% | 5/18/25 | B3 | 724,671 | |
855 | IMG Worldwide, Inc., Term Loan B | 4.370% | 3-Month LIBOR | 2.750% | 5/18/25 | B3 | 646,783 | |
2,832 | Intelsat Jackson Holdings, S.A., Term Loan B, (DD1), (5) | 6.000% | Prime | 2.750% | 11/30/23 | B | 2,791,001 | |
1,126 | LCPR Loan Financing LLC, Term Loan B | 5.814% | 1-Month LIBOR | 5.000% | 10/15/26 | B+ | 1,110,353 | |
5,530 | McGraw-Hill Education Holdings LLC, Term Loan B | 5.450% | 3-Month LIBOR | 4.000% | 5/02/22 | B | 4,520,590 | |
2,200 | Meredith Corporation, Term Loan B2 | 3.260% | 3-Month LIBOR | 2.500% | 1/31/25 | BB | 2,038,109 | |
1,825 | Metro-Goldwyn-Mayer, Inc., Term Loan, First Lien | 2.910% | 1-Month LIBOR | 2.500% | 7/03/25 | BB | 1,733,612 | |
1,000 | Metro-Goldwyn-Mayer, Inc., Term Loan, Second Lien | 5.500% | 1-Month LIBOR | 4.500% | 7/03/26 | B- | 920,000 | |
1,057 | Nexstar Broadcasting, Inc., Term Loan B | 3.735% | 1-Month LIBOR | 2.750% | 9/18/26 | BB | 998,734 | |
467 | Nexstar Broadcasting, Inc., Term Loan B3 | 3.235% | 1-Month LIBOR | 2.250% | 1/17/24 | BB | 442,384 | |
1,817 | Nexstar Broadcasting, Inc., Term Loan B3 | 2.654% | 1-Month LIBOR | 2.250% | 1/17/24 | BB | 1,719,606 | |
3,423 | Sinclair Television Group, Term Loan B2 | 2.660% | 1-Month LIBOR | 2.250% | 1/03/24 | BB+ | 3,215,715 | |
895 | Sinclair Television Group, Term Loan B2 | 3.320% | 1-Month LIBOR | 2.500% | 9/30/26 | BB+ | 838,412 | |
2,248 | WideOpenWest Finance LLC, Term Loan B | 4.250% | 1-Month LIBOR | 3.250% | 8/18/23 | B | 2,104,119 | |
4,966 | Ziggo B.V., Term Loan | 3.314% | 1-Month LIBOR | 2.500% | 4/30/28 | B+ | 4,674,650 | |
67,869 | Total Media | 60,327,513 | ||||||
Multiline Retail – 1.2% (0.7% of Total Investments) | ||||||||
891 | 99 Cents Only Stores, Term Loan B2, Second Lien, (cash 6.984%, PIK 1.500%) | 6.590% | 6-Month LIBOR | 5.000% | 1/13/22 | CCC+ | 651,806 | |
1,177 | 99 Cents Only Stores, Term Loan B2, Second Lien, (cash 6.984%, PIK 1.500%) | 6.072% | 3-Month LIBOR | 5.000% | 1/13/22 | CCC+ | 861,123 |
10
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Multiline Retail (continued) | ||||||||
$1,922 | Belk, Inc., Term Loan, First Lien | 7.750% | 6-Month LIBOR | 6.750% | 7/31/25 | Caa1 | $797,474 | |
1,470 | EG America LLC, Term Loan, First Lien | 5.072% | 6-Month LIBOR | 4.000% | 2/07/25 | B | 1,267,887 | |
515 | Samsonite Corporation, Incremental Term Loan B2, (WI/DD) | TBD | TBD | TBD | TBD | BB | 499,550 | |
5,975 | Total Multiline Retail | 4,077,840 | ||||||
Multi-Utilities – 2.1% (1.3% of Total Investments) | ||||||||
7,177 | Pacific Gas & Electric, Revolving Term Loan, (WI/DD), (5) | TBD | TBD | TBD | TBD | N/R | 7,271,279 | |
Oil, Gas & Consumable Fuels – 1.6% (1.0% of Total Investments) | ||||||||
967 | BCP Renaissance Parent, Term Loan B | 4.950% | 3-Month LIBOR | 3.500% | 10/31/24 | B+ | 759,961 | |
1,145 | Buckeye Partners, Term Loan, First Lien | 3.766% | 1-Month LIBOR | 2.750% | 11/01/26 | BBB- | 1,080,195 | |
546 | California Resources Corporation, Term Loan | 11.988% | 3-Month LIBOR | 10.375% | 12/31/21 | B | 32,423 | |
4,665 | California Resources Corporation, Term Loan B | 6.363% | 3-Month LIBOR | 4.750% | 12/31/22 | B | 1,144,208 | |
4,970 | Fieldwood Energy LLC, Exit Term Loan, (5) | 6.250% | 3-Month LIBOR | 5.250% | 4/11/22 | B- | 1,172,022 | |
3,211 | Fieldwood Energy LLC, Exit Term Loan, Second Lien, (5) | 8.250% | 3-Month LIBOR | 7.250% | 4/11/23 | CCC | 12,843 | |
1,086 | Gulf Finance, LLC, Term Loan B | 6.710% | 1-Month LIBOR | 5.250% | 8/25/23 | CCC+ | 590,209 | |
653 | Gulf Finance, LLC, Term Loan B | 6.250% | 3-Month LIBOR | 5.250% | 8/25/23 | CCC+ | 355,240 | |
615 | Peabody Energy Corporation, Term Loan B | 3.154% | 1-Month LIBOR | 2.750% | 3/31/25 | BB- | 352,533 | |
17,858 | Total Oil, Gas & Consumable Fuels | 5,499,634 | ||||||
Personal Products – 0.9% (0.6% of Total Investments) | ||||||||
1,813 | Coty, Inc., Term Loan A | 2.421% | 1-Month LIBOR | 1.500% | 4/05/23 | B+ | 1,513,622 | |
55 | Coty, Inc., Term Loan B | 3.171% | 1-Month LIBOR | 2.250% | 4/07/25 | B+ | 45,762 | |
3,643 | Revlon Consumer Products Corporation, Term Loan B, First Lien | 5.113% | 3-Month LIBOR | 3.500% | 11/16/20 | Caa2 | 1,550,869 | |
5,511 | Total Personal Products | 3,110,253 | ||||||
Pharmaceuticals – 3.7% (2.4% of Total Investments) | ||||||||
200 | Akorn, Term Loan, First Lien, (cash 10.313%, PIK 0.750%) | 14.750% | 1-Month LIBOR | 13.750% | 4/16/21 | Caa3 | 169,851 | |
951 | Alphabet Holding Company, Inc., Initial Term Loan, First Lien | 3.904% | 1-Month LIBOR | 3.500% | 9/26/24 | B- | 859,021 | |
3,543 | Concordia Healthcare Corp, Exit Term Loan | 6.568% | 6-Month LIBOR | 5.500% | 9/06/24 | B- | 3,093,581 | |
850 | Elanco Animal Health, Term Loan B, (WI/DD) | TBD | TBD | TBD | TBD | Baa3 | 823,969 | |
878 | Endo Health Solutions, Inc., Term Loan B | 5.000% | 1-Month LIBOR | 4.250% | 4/29/24 | B+ | 805,058 | |
1,379 | Mallinckrodt International Finance S.A., Term Loan B, First Lien | 4.200% | 3-Month LIBOR | 2.750% | 9/24/24 | B- | 979,005 |
11
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Pharmaceuticals (continued) | ||||||||
$473 | Mallinckrodt International Finance S.A., Term Loan, First Lien | 4.704% | 3-Month LIBOR | 3.000% | 2/24/25 | B- | $334,491 | |
1,941 | Valeant Pharmaceuticals International, Inc., Term Loan B | 3.468% | 1-Month LIBOR | 2.750% | 11/27/25 | BB | 1,872,290 | |
4,363 | Valeant Pharmaceuticals International, Inc., Term Loan, First Lien | 3.718% | 1-Month LIBOR | 3.000% | 6/02/25 | BB | 4,232,017 | |
14,578 | Total Pharmaceuticals | 13,169,283 | ||||||
Professional Services – 2.2% (1.4% of Total Investments) | ||||||||
1,050 | Ceridian HCM Holding, Inc., Term Loan B | 2.637% | 1-Week LIBOR | 2.500% | 4/30/25 | B+ | 997,307 | |
798 | Creative Artists Agency, LLC, Term Loan B | 4.154% | 1-Month LIBOR | 3.750% | 11/27/26 | B+ | 719,098 | |
1,150 | Dun & Bradstreet Corp.,Term Loan, First Lien | 4.487% | 1-Month LIBOR | 4.000% | 2/08/26 | BB- | 1,081,575 | |
2,377 | Nielsen Finance LLC, Term Loan B4 | 2.864% | 1-Month LIBOR | 2.000% | 10/04/23 | BBB- | 2,300,871 | |
597 | On Assignment, Inc., Term Loan B3 | 2.154% | 1-Month LIBOR | 1.750% | 4/02/25 | BBB- | 583,508 | |
3,298 | Skillsoft Corporation, Initial Term Loan, First Lien, (5) | 6.527% | N/A | N/A | 4/28/21 | CCC+ | 2,054,804 | |
9,270 | Total Professional Services | 7,737,163 | ||||||
Real Estate Management & Development – 0.7% (0.4% of Total Investments) | ||||||||
2,689 | GGP, Initial Term Loan A2 | 2.654% | 1-Month LIBOR | 2.250% | 8/28/23 | BB+ | 2,353,137 | |
Road & Rail – 1.5% (1.0% of Total Investments) | ||||||||
1,707 | Avolon LLC, Term Loan B3 | 2.500% | 1-Month LIBOR | 1.750% | 1/15/25 | Baa2 | 1,614,082 | |
919 | Ceva Group PLC, Term Loan B | 6.450% | 3-Month LIBOR | 5.000% | 8/04/25 | Caa1 | 521,051 | |
2,000 | Genesee & Wyoming Inc., Term Loan, First Lien | 3.450% | 3-Month LIBOR | 2.000% | 12/30/26 | BB | 1,944,470 | |
1,436 | Quality Distribution, Incremental Term Loan, First Lien | 6.950% | 3-Month LIBOR | 5.500% | 8/18/22 | B- | 1,318,959 | |
51 | Savage Enterprises LLC, Term Loan B | 3.720% | 1-Month LIBOR | 3.000% | 8/01/25 | BB | 49,411 | |
6,113 | Total Road & Rail | 5,447,973 | ||||||
Semiconductors & Semiconductor Equipment – 1.0% (0.7% of Total Investments) | ||||||||
663 | Cabot Microelectronics, Term Loan B1 | 2.438% | 1-Month LIBOR | 2.000% | 11/17/25 | BB+ | 646,581 | |
1,603 | Lumileds, Term Loan B, (DD1) | 4.572% | 6-Month LIBOR | 3.500% | 6/30/24 | B+ | 514,729 | |
4 | Lumileds, Term Loan B, (DD1) | 4.950% | 3-Month LIBOR | 3.500% | 6/30/24 | B+ | 1,325 | |
1,150 | Microchip Technology, Inc., Term Loan B | 2.410% | 1-Month LIBOR | 2.000% | 5/29/25 | Baa3 | 1,116,371 | |
1,420 | ON Semiconductor Corporation, New Replacement Term Loan B4 | 2.404% | 1-Month LIBOR | 2.000% | 9/19/26 | Baa3 | 1,375,427 | |
4,840 | Total Semiconductors & Semiconductor Equipment | 3,654,433 | ||||||
Software – 15.4% (9.8% of Total Investments) | ||||||||
995 | Autodata Solutions, Term Loan, First Lien | 3.904% | 1-Month LIBOR | 3.500% | 6/01/26 | B2 | 878,913 | |
1,493 | Blackboard, Inc., Term Loan B5, First Lien | 7.737% | 3-Month LIBOR | 6.000% | 6/30/24 | B1 | 1,357,011 | |
1,467 | Compuware Corporation, Term Loan, First Lien | 4.404% | 1-Month LIBOR | 4.000% | 8/22/25 | B | 1,444,327 |
12
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Software (continued) | ||||||||
$1,964 | DiscoverOrg LLC, Term Loan B | 5.450% | 3-Month LIBOR | 4.000% | 2/01/26 | B | $1,865,787 | |
1,968 | Ellucian, Term Loan B, First Lien | 4.700% | 3-Month LIBOR | 3.250% | 9/30/22 | B | 1,908,341 | |
2,551 | Epicor Software Corporation, Term Loan B | 3.660% | 1-Month LIBOR | 3.250% | 6/01/22 | B2 | 2,473,663 | |
2,338 | Greeneden U.S. Holdings II LLC, Term Loan B | 3.654% | 1-Month LIBOR | 3.250% | 12/01/23 | B2 | 2,224,118 | |
326 | Greenway Health, Term Loan, First Lien | 4.820% | 3-Month LIBOR | 3.750% | 2/16/24 | B | 230,896 | |
8,270 | Infor (US), Inc., Term Loan B | 3.750% | 1-Month LIBOR | 2.750% | 2/01/22 | Ba3 | 8,152,672 | |
2,312 | Informatica LLC, Term Loan, First Lien | 3.654% | 1-Month LIBOR | 3.250% | 2/25/27 | B1 | 2,186,469 | |
1,652 | Kronos Incorporated, Term Loan B | 4.763% | 3-Month LIBOR | 3.000% | 11/01/23 | B | 1,602,396 | |
656 | McAfee Holdings International, Inc., Term Loan, Second Lien | 9.500% | 1-Month LIBOR | 8.500% | 9/29/25 | B- | 641,484 | |
2,619 | McAfee LLC, Term Loan B | 4.188% | 1-Month LIBOR | 3.750% | 9/30/24 | B | 2,522,521 | |
1,137 | Micro Focus International PLC, New Term Loan | 2.904% | 1-Month LIBOR | 2.500% | 6/21/24 | BB- | 1,058,826 | |
7,680 | Micro Focus International PLC, Term Loan B | 2.904% | 1-Month LIBOR | 2.500% | 6/21/24 | BB- | 7,150,509 | |
3,260 | Micro Focus International PLC, Term Loan B2 | 2.654% | 1-Month LIBOR | 2.250% | 11/19/21 | BB- | 3,121,544 | |
2,845 | Misys, New Term Loan, First Lien | 4.500% | 6-Month LIBOR | 3.500% | 6/13/24 | B2 | 2,488,870 | |
1,436 | Misys, New Term Loan, Second Lien | 8.250% | 6-Month LIBOR | 7.250% | 6/13/25 | Caa2 | 1,234,698 | |
375 | Mitchell International, Inc., Initial Term Loan, First Lien | 3.654% | 1-Month LIBOR | 3.250% | 11/29/24 | B2 | 329,582 | |
667 | Mitchell International, Inc., Initial Term Loan, Second Lien | 7.654% | 1-Month LIBOR | 7.250% | 12/01/25 | CCC | 568,833 | |
1,194 | Perforce Software Inc., Term Loan, First Lien | 4.154% | 1-Month LIBOR | 3.750% | 7/01/26 | B2 | 1,116,397 | |
1,451 | RP Crown Parent LLC, Term Loan B | 3.750% | 1-Month LIBOR | 2.750% | 10/15/23 | B1 | 1,396,828 | |
1,880 | SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., New Term Loan B3 | 2.154% | 1-Month LIBOR | 1.750% | 4/16/25 | BB+ | 1,815,632 | |
1,341 | SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., New Term Loan B4 | 2.154% | 1-Month LIBOR | 1.750% | 4/16/25 | BB+ | 1,295,579 | |
658 | Thomson Reuters IP & S, Term Loan B | 3.654% | 1-Month LIBOR | 3.250% | 10/30/26 | B | 633,662 | |
3,099 | TIBCO Software, Inc., Term Loan, First Lien | 4.160% | 1-Month LIBOR | 3.750% | 6/30/26 | B+ | 2,922,337 | |
1,000 | TIBCO Software, Inc., Term Loan, Second Lien | 7.660% | 1-Month LIBOR | 7.250% | 3/03/28 | B- | 936,250 | |
746 | Ultimate Software, Term Loan, First Lien | 4.154% | 1-Month LIBOR | 3.750% | 5/04/26 | B | 715,385 | |
57,380 | Total Software | 54,273,530 | ||||||
Specialty Retail – 1.9% (1.2% of Total Investments) | ||||||||
528 | Academy, Ltd., Term Loan B | 5.006% | 1-Month LIBOR | 4.000% | 7/01/22 | CCC+ | 351,816 | |
819 | Petco Animal Supplies, Inc., Term Loan B1 | 4.250% | 3-Month LIBOR | 3.250% | 1/26/23 | B3 | 545,478 | |
2,070 | Petsmart Inc., Term Loan B | 4.000% | 3-Month LIBOR | 3.000% | 3/11/22 | B2 | 1,981,845 | |
3,742 | Petsmart Inc., Term Loan B, First Lien | 5.000% | 6-Month LIBOR | 4.000% | 3/11/22 | B | 3,642,362 |
13
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Specialty Retail (continued) | ||||||||
$1,204 | Serta Simmons Holdings LLC, Term Loan, Second Lien | 9.020% | 3-Month LIBOR | 8.000% | 11/08/24 | Ca | $294,862 | |
8,363 | Total Specialty Retail | 6,816,363 | ||||||
Technology Hardware, Storage & Peripherals – 4.2% (2.7% of Total Investments) | ||||||||
2,592 | BMC Software, Inc., Term Loan B | 4.654% | 1-Month LIBOR | 4.250% | 10/02/25 | B2 | 2,252,173 | |
9,056 | Dell International LLC, Refinancing Term Loan B1 | 2.750% | 1-Month LIBOR | 2.000% | 9/19/25 | BBB- | 8,852,386 | |
1,407 | Diebold, Inc., Term Loan A1 | 9.688% | 1-Month LIBOR | 9.250% | 8/31/22 | B- | 1,286,384 | |
597 | NCR Corporation, Term Loan B | 2.910% | 1-Month LIBOR | 2.500% | 8/28/26 | BB+ | 570,135 | |
1,937 | Western Digital, Term Loan B | 2.766% | 1-Month LIBOR | 1.750% | 4/29/23 | Baa2 | 1,873,833 | |
15,589 | Total Technology Hardware, Storage & Peripherals | 14,834,911 | ||||||
Trading Companies & Distributors – 0.2% (0.1% of Total Investments) | ||||||||
592 | Hayward Industries, Inc., Initial Term Loan, First Lien | 3.904% | 1-Month LIBOR | 3.500% | 8/05/24 | B | 549,506 | |
Transportation Infrastructure – 0.2% (0.1% of Total Investments) | ||||||||
741 | Atlantic Aviation FBO Inc., Term Loan | 4.160% | 1-Month LIBOR | 3.750% | 12/06/25 | BB- | 670,884 | |
Wireless Telecommunication Services – 0.9% (0.5% of Total Investments) | ||||||||
1,626 | Asurion LLC, Term Loan B4 | 4.000% | 1-Month LIBOR | 3.000% | 8/04/22 | Ba3 | 1,573,163 | |
1,500 | T-Mobile USA, Term Loan, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | BBB- | 1,492,275 | |
3,126 | Total Wireless Telecommunication Services | 3,065,438 | ||||||
$550,319 | Total Variable Rate Senior Loan Interests (cost $539,519,153) | 474,164,849 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
CORPORATE BONDS – 11.7% (7.4% of Total Investments) | ||||||||
Airlines – 0.1% (0.1% of Total Investments) | ||||||||
$805 | American Airlines Group Inc, 144A | 5.000% | 6/01/22 | B1 | $492,056 | |||
Auto Components – 0.1% (0.1% of Total Investments) | ||||||||
585 | Adient Global Holdings Ltd, 144A | 4.875% | 8/15/26 | B | 435,825 | |||
Chemicals – 0.3% (0.2% of Total Investments) | ||||||||
1,066 | Kraton Polymers LLC / Kraton Polymers Capital Corp, 144A | 7.000% | 4/15/25 | BB- | 1,023,360 | |||
Communications Equipment – 1.4% (0.9% of Total Investments) | ||||||||
4,482 | Intelsat Jackson Holdings SA, (5) | 5.500% | 8/01/23 | D | 2,434,286 | |||
4,360 | Intelsat Jackson Holdings SA, 144A, (5) | 9.750% | 7/15/25 | D | 2,528,800 | |||
8,842 | Total Communications Equipment | 4,963,086 |
14
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
Diversified Consumer Services – 0.1% (0.0% of Total Investments) | ||||||||
$400 | Kronos Acquisition Holdings Inc, 144A | 9.000% | 8/15/23 | Caa2 | $346,832 | |||
Diversified Telecommunication Services – 0.4% (0.3% of Total Investments) | ||||||||
865 | Consolidated Communications Inc | 6.500% | 10/01/22 | CCC+ | 776,338 | |||
660 | CSC Holdings LLC, 144A | 10.875% | 10/15/25 | B | 713,427 | |||
1,525 | Total Diversified Telecommunication Services | 1,489,765 | ||||||
Electric Utilities – 2.6% (1.6% of Total Investments) | ||||||||
2,980 | Bruce Mansfield Unit 1 2007 Pass Through Trust, (5) | 6.850% | 6/01/34 | N/R | 7,450 | |||
895 | Pacific Gas & Electric Co, (5) | 2.450% | 8/15/22 | N/R | 912,900 | |||
715 | Pacific Gas & Electric Co, (5) | 3.850% | 11/15/23 | N/R | 741,813 | |||
40 | Pacific Gas & Electric Co, (5) | 3.300% | 12/01/27 | N/R | 40,100 | |||
3,075 | Pacific Gas & Electric Co, (5) | 6.050% | 3/01/34 | N/R | 3,459,375 | |||
2,765 | Pacific Gas & Electric Co, (5) | 4.750% | 2/15/44 | N/R | 3,048,412 | |||
770 | Pacific Gas & Electric Co, (5) | 4.250% | 3/15/46 | N/R | 795,025 | |||
11,240 | Total Electric Utilities | 9,005,075 | ||||||
Entertainment – 0.5% (0.3% of Total Investments) | ||||||||
1,415 | AMC Entertainment Holdings Inc, 144A | 10.500% | 4/15/25 | B3 | 1,252,275 | |||
740 | AMC Entertainment Holdings Inc | 5.750% | 6/15/25 | Caa2 | 166,500 | |||
2,040 | AMC Entertainment Holdings Inc | 6.125% | 5/15/27 | Caa2 | 479,400 | |||
4,195 | Total Entertainment | 1,898,175 | ||||||
Equity Real Estate Investment Trust – 0.3% (0.2% of Total Investments) | ||||||||
1,000 | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC, 144A | 7.875% | 2/15/25 | B | 962,500 | |||
Health Care Equipment & Supplies – 0.1% (0.0% of Total Investments) | ||||||||
900 | Mallinckrodt International Finance SA / Mallinckrodt CB LLC, 144A | 5.625% | 10/15/23 | CC | 258,345 | |||
Health Care Providers & Services – 0.9% (0.6% of Total Investments) | ||||||||
2,843 | Envision Healthcare Corp, 144A, (5) | 8.750% | 10/15/26 | D | 950,642 | |||
120 | HCA Inc | 5.375% | 2/01/25 | Ba2 | 129,017 | |||
705 | Tenet Healthcare Corp | 8.125% | 4/01/22 | B- | 710,499 | |||
295 | Tenet Healthcare Corp | 4.625% | 7/15/24 | BB- | 291,106 | |||
1,060 | Tenet Healthcare Corp, 144A | 6.250% | 2/01/27 | B1 | 1,043,676 | |||
5,023 | Total Health Care Providers & Services | 3,124,940 | ||||||
Hotels, Restaurants & Leisure – 0.4% (0.3% of Total Investments) | ||||||||
440 | 1011778 BC ULC / New Red Finance Inc, 144A | 5.000% | 10/15/25 | B+ | 442,200 | |||
1,005 | Carnival Corp, 144A | 11.500% | 4/01/23 | Baa2 | 1,049,910 | |||
1,445 | Total Hotels, Restaurants & Leisure | 1,492,110 |
15
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
IT Services – 0.2% (0.1% of Total Investments) | ||||||||
$735 | Genesys Telecommunications Laboratories Inc/Greeneden Lux 3 Sarl/Greeneden US Ho, 144A | 10.000% | 11/30/24 | CCC+ | $773,588 | |||
Media – 2.8% (1.8% of Total Investments) | ||||||||
165 | CCO Holdings LLC / CCO Holdings Capital Corp, 144A | 5.375% | 5/01/25 | BB+ | 169,197 | |||
150 | Charter Communications Operating LLC / Charter Communications Operating Capital | 3.579% | 7/23/20 | BBB- | 150,215 | |||
3,000 | Houghton Mifflin Harcourt Publishers Inc, 144A | 9.000% | 2/15/25 | BB- | 2,460,000 | |||
5,377 | iHeartCommunications Inc | 8.375% | 5/01/27 | CCC+ | 4,489,377 | |||
2,465 | iHeartCommunications Inc, 144A | 5.250% | 8/15/27 | B+ | 2,200,013 | |||
420 | Intelsat Luxembourg SA, (5) | 8.125% | 6/01/23 | C | 33,600 | |||
295 | Univision Communications Inc, 144A | 5.125% | 5/15/23 | B | 280,250 | |||
11,872 | Total Media | 9,782,652 | ||||||
Oil, Gas & Consumable Fuels – 0.9% (0.6% of Total Investments) | ||||||||
2,935 | Citgo Holding Inc, 144A | 9.250% | 8/01/24 | B+ | 2,641,500 | |||
540 | MEG Energy Corp, 144A | 7.000% | 3/31/24 | B+ | 383,400 | |||
1,100 | Oasis Petroleum Inc, 144A | 6.250% | 5/01/26 | CCC+ | 143,000 | |||
1,400 | Whiting Petroleum Corp, (5) | 6.625% | 1/15/26 | D | 140,000 | |||
5,975 | Total Oil, Gas & Consumable Fuels | 3,307,900 | ||||||
Pharmaceuticals – 0.5% (0.3% of Total Investments) | ||||||||
733 | Advanz Pharma Corp Ltd | 8.000% | 9/06/24 | B- | 652,370 | |||
1,275 | Endo Dac / Endo Finance LLC / Endo Finco Inc, 144A | 6.000% | 7/15/23 | CCC+ | 955,740 | |||
2,008 | Total Pharmaceuticals | 1,608,110 | ||||||
Wireless Telecommunication Services – 0.1% (0.0% of Total Investments) | ||||||||
795 | Intelsat Connect Finance SA, 144A, (5) | 9.500% | 2/15/23 | CCC- | 151,050 | |||
$58,411 | Total Corporate Bonds (cost $51,361,218) | 41,115,369 |
Shares | Description (1) | Value | ||||||
COMMON STOCKS – 2.5% (1.6% of Total Investments) | ||||||||
Airlines – 0.0% (0.0% of Total Investments) | ||||||||
2,954 | American Commercial Lines, (6) | $73,850 | ||||||
Diversified Consumer Services – 0.0% (0.0% of Total Investments) | ||||||||
16,910 | Cengage Learning Holdings II Inc, (6), (7) | 114,143 | ||||||
Electric Utilities – 0.6% (0.4% of Total Investments) | ||||||||
63,787 | Energy Harbor Corp, (6), (8) | 2,009,290 | ||||||
Energy Equipment & Services – 0.1% (0.0% of Total Investments) | ||||||||
63,862 | Transocean Ltd, (7) | 81,744 |
16
Shares | Description (1) | Value | ||||||
Energy Equipment & Services (continued) | ||||||||
7,266 | Vantage Drilling International, (6) | $44,504 | ||||||
Total Energy Equipment & Services | 126,248 | |||||||
Health Care Providers & Services – 0.0% (0.0% of Total Investments) | ||||||||
54,276 | Millennium Health LLC, (6), (7) | 1,628 | ||||||
50,560 | Millennium Health LLC, (7), (9) | 53,492 | ||||||
47,462 | Millennium Health LLC, (7), (9) | 47,842 | ||||||
Total Health Care Providers & Services | 102,962 | |||||||
Internet & Direct Marketing Retail – 0.0% (0.0% of Total Investments) | ||||||||
12,030 | Catalina Marketing Corp, (6), (7) | 24,060 | ||||||
Media – 1.4% (0.9% of Total Investments) | ||||||||
640,661 | Clear Channel Outdoor Holdings Inc, (7) | 618,110 | ||||||
67,466 | Cumulus Media Inc | 298,874 | ||||||
1,318,561 | Hibu plc, (6), (7) | 89,662 | ||||||
316,926 | iHeartMedia Inc, (7) | 2,224,821 | ||||||
23,363 | Metro-Goldwyn-Mayer Inc, (6) | 1,728,862 | ||||||
36,087 | Tribune Co, (7), (9) | 7,939 | ||||||
Total Media | 4,968,268 | |||||||
Pharmaceuticals – 0.0% (0.0% of Total Investments) | ||||||||
15,310 | Advanz Pharma Corp Ltd, (7) | 50,829 | ||||||
Software – 0.4% (0.3% of Total Investments) | ||||||||
125,939 | Avaya Holdings Corp, (7) | 1,251,834 | ||||||
Total Common Stocks (cost $25,323,727) | 8,721,484 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
ASSET-BACKED SECURITIES – 0.4% ( 0.3% of Total Investments) | ||||||||
$800 | Dryden 50 Senior Loan Fund, 144A, (3-Month LIBOR reference rate + 6.260% spread), (10) | 8.091% | 7/15/30 | Ba3 | $575,726 | |||
750 | Gilbert Park CLO Ltd, 144A, (3-Month LIBOR reference rate + 6.400% spread), (10) | 8.231% | 10/15/30 | Ba3 | 543,915 | |||
400 | Neuberger Berman Loan Advisers CLO 28 Ltd, Series NEUB 2018-28A E, 144A, (3-Month LIBOR reference rate + 5.600% spread), (10) | 6.735% | 4/20/30 | BB- | 267,937 | |||
$1,950 | Total Asset-Backed Securities (cost $1,943,850) | 1,387,578 |
Shares | Description (1) | Value | ||||||
WARRANTS – 0.0% (0.0% of Total Investments) | ||||||||
Communications Equipment – 0.0% (0.0% of Total Investments) | ||||||||
15,619 | Avaya Holdings Corp, (6) | $937 | ||||||
Total Warrants (cost $1,460,830) | 937 |
17
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
Shares | Description (1) | Value | ||||||
COMMON STOCK RIGHTS – 0.0% (0.0% of Total Investments) | ||||||||
Oil, Gas & Consumable Fuels – 0.0% (0.0% of Total Investments) | ||||||||
13,466 | Fieldwood Energy Inc, (6), (7) | $673 | ||||||
2,721 | Fieldwood Energy Inc, (6), (7) | 136 | ||||||
Total Common Stock Rights (cost $384,387) | 809 | |||||||
Total Long-Term Investments (cost $619,993,165) | 525,391,026 |
Shares | Description (1) | Coupon | Value | |||||
SHORT-TERM INVESTMENTS – 8.2% (5.2% of Total Investments) | ||||||||
INVESTMENT COMPANIES – 8.2% (5.2% of Total Investments) | ||||||||
29,012,541 | BlackRock Liquidity Funds T-Fund Portfolio, (11) | 0.120% (12) | $29,012,541 | |||||
Total Short-Term Investments (cost $29,012,541) | 29,012,541 | |||||||
Total Investments (cost $649,005,706) – 157.3% | 554,403,567 | |||||||
Borrowings – (39.3)% (13), (14) | (138,400,000) | |||||||
Term Preferred Shares, net of deferred offering costs – (12.6)% (15) | (44,580,397) | |||||||
Other Assets Less Liabilities – (5.4)% (16) | (18,929,902) | |||||||
Net Assets Applicable to Common Shares – 100% | $352,493,268 |
Investments in Derivatives
Interest Rate Swaps - OTC Uncleared | ||||||||||
Counterparty | Notional Amount | Fund Pay/Receive Floating Rate | Floating Rate Index | Fixed Rate (Annualized) | Fixed Rate Payment Frequency | Maturity Date | Value | Unrealized Appreciation (Depreciation) | ||
Morgan Stanley Capital Services LLC | $45,000,000 | Pay | 1-Month LIBOR | 4.000% | Monthly | 1/01/27(17) | $832,952 | $832,952 |
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
18
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Variable Rate Senior Loan Interests | $ — | $474,164,849 | $ — | $474,164,849 |
Corporate Bonds | — | 41,115,369 | — | 41,115,369 |
Common Stocks | 4,526,212 | 4,085,999 | 109,273 | 8,721,484 |
Asset-Backed Securities | — | 1,387,578 | — | 1,387,578 |
Warrants | — | 937 | — | 937 |
Common Stock Rights | — | 809 | — | 809 |
Short-Term Investments: | ||||
Investment Companies | 29,012,541 | — | — | 29,012,541 |
Investments in Derivatives: | ||||
Interest Rate Swaps* | — | 832,952 | — | 832,952 |
Total | $33,538,753 | $521,588,493 | $109,273 | $555,236,519 |
* | Represents net unrealized appreciation (depreciation). |
19
JRO | Nuveen Floating Rate Income Opportunity Fund (continued) |
Portfolio of Investments April 30, 2020 | |
(Unaudited) |
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |
(2) | Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate (Reference Rate) plus an assigned fixed rate (Spread). These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. The rate shown is the coupon as of the end of the reporting period. | |
(3) | Senior Loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments of senior loans may occur. As a result, the actual remaining maturity of senior loans held may be substantially less than the stated maturities shown. | |
(4) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. | |
(5) | Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy. | |
(6) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(7) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(8) | Common Stock received as part of the bankruptcy settlements for Bruce Mansfield Unit 1 2007 Pass Through Trust. | |
(9) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. | |
(10) | Variable rate security. The rate shown is the coupon as of the end of the reporting period. | |
(11) | A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov. | |
(12) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. | |
(13) | Borrowings as a percentage of Total Investments is 25.0%. | |
(14) | The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives, when applicable) in the Portfolio of Investments as collateral for borrowings. | |
(15) | Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 8.0%. | |
(16) | Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC cleared and exchange-traded derivatives, when applicable. | |
(17) | This interest rate swap has an optional early termination date beginning on January 1, 2021 and monthly thereafter through the termination date as specified in the swap contract. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
DD1 | Portion of investment purchased on a delayed delivery basis. | |
LIBOR | London Inter-Bank Offered Rate | |
N/A | Not Applicable. | |
PIK | Payment-in-kind (“PIK”) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period. | |
TBD | Senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
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