UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-21979
Nuveen Investment Trust V
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Mark J. Czarniecki
Vice President and Secretary
333 West Wacker Drive,
Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: August 31
Date of reporting period: February 28, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 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. ss.3507.
| ITEM 1. | REPORTS TO STOCKHOLDERS. |
This
semi-annual
report
contains
the
Funds'
unaudited financial
statements.
Fund
Name
Class
A
Class
C
Class
R6
Class
I
Nuveen
Credit
Income
Fund
FJSIX
FCSIX
—
FJSYX
Nuveen
Flexible
Income
Fund
NWQAX
NWQCX
NQWFX
NWQIX
Nuveen
Floating
Rate
Income
Fund
NFRAX
NFFCX
NFRFX
NFRIX
Nuveen
High
Yield
Income
Fund
NCOAX
NCFCX
NCSRX
NCOIX
Nuveen
Preferred
Securities
and
Income
Fund
NPSAX
NPSCX
NPSFX
NPSRX
Nuveen
Strategic
Income
Fund
FCDDX
FCBCX
FSFRX
FCBYX
Life
is
Complex.
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makes
things
e-simple.
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only
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soon
as
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Nuveen
Fund
information
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ready.
No
more
waiting
for
delivery
by
regular
mail.
Just
click
on
the
link
within
the
e-mail
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save
it
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computer
if
you
wish.
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e-Reports
right
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email!
www.investordelivery.com
If
you
receive
your
Nuveen
Fund
distributions
and
statements
from
your
financial
advisor
or
brokerage
account.
or
www.nuveen.com/client-access
If
you
receive
your
Nuveen
Fund
distributions
and
statements
directly
from
Nuveen.
Must
be
preceded
by
or
accompanied
by
a
prospectus.
NOT
FDIC
INSURED
MAY
LOSE
VALUE
NO
BANK
GUARANTEE
Chair’s
Letter
to
Shareholders
4
Important
Notices
5
Risk
Considerations
and
Dividend
Information
6
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
8
Yields
21
Expense
Examples
23
Statement
of
Assets
and
Liabilities
108
Statement
of
Operations
110
Statement
of
Changes
in
Net
Assets
112
Financial
Highlights
118
Notes
to
Financial
Statements
130
Additional
Fund
Information
148
Glossary
of
Terms
Used
in
this
Report
149
Liquidity
Risk
Management
Program
152
Chair’s
Letter
to
Shareholders
Dear
Shareholders,
The
significant
measures
taken
by
the
U.S.
Federal
Reserve
(Fed)
and
other
global
central
banks
over
the
past
year
to
contain
inflation
have
begun
to
take
effect.
From
March
2022
to
March
2023,
the
Fed
raised
the
target
fed
funds
rate
by
4.75%
to
a
range
of
4.75%
to
5.00%,
marking
the
fastest
interest
rate
hiking
cycle
in
its
history.
Across
most
of
the
world,
inflation
rates
have
fallen
from
their
post-pandemic
highs
but
currently
remain
well
above
the
levels
that
central
banks
consider
supportive
of
their
economies’
long-term
growth.
At
the
same
time,
the
U.S.
and
other
large
economies
have
remained
surprisingly
resilient,
even
as
financial
conditions
have
tightened.
Despite
contracting
in
the
first
half
of
2022,
U.S.
gross
domestic
product
grew
2.1%
in
the
year
overall
compared
to
2021.
More
recent
data
have
shown
a
relatively
strong
jobs
market,
which
has
helped
support
consumer
sentiment
and
spending
despite
historically
high
inflation.
Markets
are
concerned
that
these
conditions
could
keep
upward
pressure
on
prices
and
wages,
which
could
prompt
central
banks
to
continue
raising
interest
rates
at
the
risk
of
slowing
economies
too
much.
Additionally,
the
recent
collapse
of
two
regional
U.S.
banks,
Silicon
Valley
Bank
and
Signature
Bank,
and
major
European
bank
Credit
Suisse,
is
likely
to
add
further
downward
pressure
to
the
economy
as
the
banking
system
slows
lending
in
response.
Fed
officials
are
closely
monitoring
inflation
data
and
other
economic
measures
to
modify
their
rate
setting
policy
based
upon
these
factors.
While
uncertainty
has
increased
given
the
unpredictable
outcome
of
tighter
credit
conditions
on
the
economy,
the
Fed
remains
committed
to
acting
until
it
sees
sustainable
progress
toward
its
inflation
goals.
In
the
meantime,
markets
are
likely
to
continue
reacting
in
the
short
term
to
news
about
inflation
data,
economic
indicators
and
central
bank
policy.
We
encourage
investors
to
keep
a
long-
term
perspective
amid
the
short-term
noise.
Your
financial
professional
can
help
you
review
how
well
your
portfolio
is
aligned
with
your
time
horizon,
risk
tolerance
and
investment
goals.
On
behalf
of
the
other
members
of
the
Nuveen
Fund
Board,
we
look
forward
to
continuing
to
earn
your
trust
in
the
months
and
years
ahead.
Terence
J.
Toth
Chair
of
the
Board
April
20,
2023
For
Shareholders
of
Nuveen
Credit
Income
Fund
Nuveen
Flexible
Income
Fund
Nuveen
Floating
Rate
Income
Fund
Nuveen
High
Yield
Income
Fund
Nuveen
Preferred
Securities
and
Income
Fund
Nuveen
Strategic
Income
Fund
Portfolio
Manager
Commentaries
in
Semi-annual
Reports
The
Funds
include
portfolio
manager
commentary
in
their
annual
shareholder
reports.
For
the
Funds’
most
recent
annual
portfolio
manager
discussion,
please
refer
to
the
Portfolio
Managers’
Comments
section
of
each
Fund’s
August
31,
2022
annual
shareholder
report.
For
current
information
on
your
Fund’s
investment
objectives,
portfolio
management
team
and
average
annual
total
returns
please
refer
to
the
Fund’s
website
at
www.nuveen.com.
For
changes
that
occurred
to
your
Fund
both
during
and
subsequent
to
this
reporting
period,
please
refer
to
the
Notes
to
Financial
Statements
section
of
this
report.
For
average
annual
total
returns
as
of
the
end
of
this
reporting
period,
please
refer
to
the
Performance
Overview,
Expense
Ratios
and
Holding
Summaries
section
within
this
report.
Portfolio
Manager
Change
for
the
Nuveen
Flexible
Income
Fund
Effective
October
31,
2022,
Steve
T.
Peña,
Managing
Director,
was
added
as
a
portfolio
manager
of
the
Nuveen
Flexible
Income
Fund.
Thomas
J.
Ray
and
Susi
Budiman
continue
to
serve
as
portfolio
managers
of
the
Fund.
Subsequent
Events
–
Portfolio
Manager
Changes
for
Nuveen
Credit
Income
Fund
Effective
March
21,
2023,
Mark
Zheng,
CFA,
has
been
added
as
a
portfolio
manager
of
the
Nuveen
Credit
Income
Fund.
Jean
C.
Lin,
Karina
Bubeck,
Aash
Parekh
and
Brenda
A.
Langenfeld
will
continue
to
serve
as
portfolio
managers
for
the
Fund.
Anders
Persson
will
no
longer
serve
as
a
portfolio
manager
of
the
Fund.
Risk
Considerations
and
Dividend
Information
Risk
Considerations
Nuveen
Credit
Income
Fund
Mutual
fund
investing
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Credit
risk
arises
from
an
issuer’s
ability
to
make
interest
and
principal
payments
when
due,
as
well
as
the
prices
of
bonds
declining
when
an
issuer’s
credit
quality
is
expected
to
deteriorate.
The
Fund’s
income
could
decline
during
periods
of
falling
interest
rates.
Investments
in
below
investment
grade
or
high
yield
securities
are
subject
to
liquidity
risk
and
heightened
credit
risk.
This
Fund
is
subject
to
the
risks
of
investing
in
loans,
including
senior
loans
and
secured
and
unsecured
junior
loans.
Unsecured
loans
are
not
backed
by
a
security
interest
in
collateral
and
involve
a
higher
degree
of
risk
than
secured
loans.
Loans
are
also
subject
to
settlement
risk
due
to
the
lack
of
established
settlement
standards
or
remedies
for
failure
to
settle,
and
may
have
limited
restrictive
covenants
on
borrowers,
which
may
weaken
the
Fund’s
ability
to
access
collateral
securing
the
loan
and
enforce
its
rights
as
a
lender.
The
Fund
may
also
invest
in
a
pool
of
loans
through
collateralized
loan
obligations
(CLOs).
In
addition
to
the
risks
associated
with
loans
and
high
yield
securities,
CLOs
are
subject
to
the
risk
that
distributions
from
the
collateral
may
not
be
adequate
to
make
interest
or
other
payments
owed
to
the
Fund.
Asset-backed
and
mortgage-backed
securities
are
subject
to
additional
risks
such
as
prepayment
risk,
liquidity
risk,
default
risk
and
adverse
economic
developments.
Preferred
securities
are
subordinate
to
bonds
and
other
debt
instruments
in
a
company’s
capital
structure
and
therefore
are
subject
to
greater
credit
risk.
Certain
types
of
preferred,
hybrid
or
debt
securities
with
special
loss
absorption
provisions,
such
as
contingent
capital
securities
(CoCos),
may
be
or
become
so
subordinated
that
they
present
risks
equivalent
to,
or
in
some
cases
even
greater
than,
the
same
company’s
common
stock.
Non-U.S.
investments
involve
risks
such
as
currency
fluctuation,
political
and
economic
instability,
lack
of
liquidity
and
differing
legal
and
accounting
standards.
These
risks
are
magnified
in
emerging
markets.
These
and
other
risk
considerations,
such
as
call,
derivatives,
illiquid
investments,
interest
rate,
market,
and
valuation
risks,
are
described
in
detail
in
the
Fund’s
prospectus.
Nuveen
Flexible
Income
Fund
Mutual
fund
investing
involves
risk;
principal
loss
is
possible.
Debt
and
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
call
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Below
investment
grade
or
high
yield
debt
securities
are
subject
to
liquidity
risk
and
heightened
credit
risk.
Preferred
securities
are
subordinate
to
bonds
and
other
debt
instruments
in
a
company's
capital
structure
and
therefore
are
subject
to
greater
credit
risk.
Foreign
investments
involve
additional
risks,
including
currency
fluctuation,
political
and
economic
instability,
lack
of
liquidity
and
differing
legal
and
accounting
standards.
Asset-backed
and
mortgage-backed
securities
are
subject
to
additional
risks
such
as
prepayment
risk,
liquidity
risk
and
adverse
economic
developments.
Concentration
in
the
financial
services
sector
may
involve
greater
exposure
to
adverse
economic
or
regulatory
occurrences.
Equity
investments
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
common
stock
risk,
covered
call
risk,
short
sale
risk,
and
derivatives
risk.
Nuveen
Floating
Rate
Income
Fund
Mutual
fund
investing
involves
risk;
principal
loss
is
possible.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
liquidity
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Below
investment
grade
or
high
yield
debt
securities
are
subject
to
liquidity
risk
and
heightened
credit
risk.
Foreign
investments
involve
additional
risks,
including
currency
fluctuation,
political
and
economic
instability,
lack
of
liquidity
and
differing
legal
and
accounting
standards.
The
value
of
the
Fund's
convertible
securities
may
decline
in
response
to
such
factors
as
rising
interest
rates
and
fluctuations
in
the
market
price
of
the
underlying
securities.
This
Fund
is
subject
to
loan
settlement
risk
due
to
the
lack
of
established
settlement
standards
or
remedies
for
failure
to
settle.
Nuveen
High
Yield
Income
Fund
Mutual
fund
investing
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Investments
in
below
investment
grade
or
high
yield
securities
are
subject
to
liquidity
risk
and
heightened
credit
risk.
Credit
risk
arises
from
an
issuer’s
ability
to
make
interest
and
principal
payments
when
due,
as
well
as
the
prices
of
bonds
declining
when
an
issuer’s
credit
quality
is
expected
to
deteriorate.
The
Fund
is
subject
to
interest
rate
risk;
as
interest
rates
rise,
bond
prices
fall.
This
Fund
is
subject
to
the
risks
of
investing
in
loans,
including
loan
settlement
risk
due
to
the
lack
of
established
settlement
standards
or
remedies
for
failure
to
settle
and
covenant
lite
loan
risk,
which
is
the
risk
that
loans
with
limited
restrictive
covenants
on
borrowers
may
weaken
the
Fund’s
ability
to
access
collateral
securing
the
loan
and
enforce
its
rights
as
a
lender.
Non-U.S.
investments
involve
risks
such
as
currency
fluctuation,
political
and
economic
instability,
lack
of
liquidity
and
differing
legal
and
accounting
standards.
These
and
other
risk
considerations,
such
as
active
management,
call,
derivatives,
income,
and
unrated
securities
risks,
are
described
in
detail
in
the
Fund’s
prospectus.
Nuveen
Preferred
Securities
and
Income
Fund
Mutual
fund
investing
involves
risk;
principal
loss
is
possible.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
illiquid
securities
risk,
concentration
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Below
investment
grade
or
high
yield
debt
securities
are
subject
to
liquidity
risk
and
heightened
credit
risk.
Preferred
securities
are
subordinate
to
bonds
and
other
debt
instruments
in
a
company's
capital
structure
and
therefore
are
subject
to
greater
credit
risk.
Certain
types
of
preferred,
hybrid
or
debt
securities
with
special
loss
absorption
provisions,
such
as
contingent
capital
securities
(CoCos),
may
be
or
become
so
subordinated
that
they
present
risks
equivalent
to,
or
in
some
cases
even
greater
than,
the
same
company's
common
stock.
Foreign
investments
involve
additional
risks,
including
currency
fluctuation,
political
and
economic
instability,
lack
of
liquidity
and
differing
legal
and
accounting
standards.
Nuveen
Strategic
Income
Fund
Mutual
fund
investing
involves
risk;
principal
loss
is
possible.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
call
risk,
derivatives
risk,
dollar
roll
transaction
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Below
investment
grade
or
high
yield
debt
securities
are
subject
to
liquidity
risk
and
heightened
credit
risk.
Foreign
investments
involve
additional
risks,
including
currency
fluctuation,
political
and
economic
instability,
lack
of
liquidity
and
differing
legal
and
accounting
standards.
The
Fund
gains
additional
exposure
to
currency
rates,
and
therefore
to
the
risk
of
currency
fluctuation,
through
investment
in
foreign
currency
contracts.
The
risks
of
foreign
investments
are
magnified
in
emerging
markets.
Asset-backed
and
mortgage-backed
securities
are
subject
to
additional
risks
such
as
prepayment
risk,
liquidity
risk,
default
risk
and
adverse
economic
developments.
Dividend
Information
Each
Fund
seeks
to
pay
regular
monthly
dividends
out
of
its
net
investment
income
at
a
rate
that
reflects
its
past
and
projected
net
income
performance.
To
permit
each
Fund
to
maintain
a
more
stable
monthly
dividend,
the
Fund
may
pay
dividends
at
a
rate
that
may
be
more
or
less
than
the
amount
of
net
income
actually
earned
by
the
Fund
during
the
period.
Distributions
to
shareholders
are
determined
on
a
tax
basis,
which
may
differ
from
amounts
recorded
in
the
accounting
records.
In
instances
where
the
monthly
dividend
exceeds
the
earned
net
investment
income,
the
Fund
would
report
a
negative
undistributed
net
ordinary
income.
Refer
to
Note
6
–
Income
Tax
Information
for
additional
information
regarding
the
amounts
of
undistributed
net
ordinary
income
and
undistributed
net
long-term
capital
gains
and
the
character
of
the
actual
distributions
paid
by
the
Fund
during
the
period.
All
monthly
dividends
paid
by
each
Fund
during
the
current
reporting
period
were
paid
from
net
investment
income.
If
a
portion
of
a
Fund’s
monthly
distributions
is
sourced
or
comprised
of
elements
other
than
net
investment
income,
including
capital
gains
and/
or
a
return
of
capital,
shareholders
will
be
notified
of
those
sources.
For
financial
reporting
purposes,
the
per
share
amounts
of
the
Fund’s
distributions
for
the
reporting
period
are
presented
in
this
report’s
Financial
Highlights.
For
income
tax
purposes,
distribution
information
for
each
Fund
as
of
its
most
recent
tax
year
end
is
presented
in
Note
6
–
Income
Tax
Information
within
the
Notes
to
Financial
Statements
of
this
report.
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
The
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
for
each
Fund
are
shown
within
this
section
of
the
report.
Fund
Performance
Performance
data
shown
represents
past
performance
and
does
not
predict
or
guarantee
future
results.
Investment
returns
and
principal
value
will
fluctuate
so
that
when
shares
are
redeemed,
they
may
be
worth
more
or
less
than
their
original
cost.
Current
performance
may
be
higher
or
lower
than
the
performance
shown.
Total
returns
for
a
period
of
less
than
one
year
are
not
annualized
(i.e.
cumulative
returns).
Since
inception
returns
are
shown
for
share
classes
that
have
less
than
10-years
of
performance.
Returns
at
net
asset
value
(NAV)
would
be
lower
if
the
sales
charge
were
included.
Returns
assume
reinvestment
of
dividends
and
capital
gains.
For
performance,
current
to
the
most
recent
month-end
visit
Nuveen.com
or
call
(800)
257-8787.
Returns
do
not
reflect
the
deduction
of
taxes
that
a
shareholder
would
pay
on
Fund
distributions
or
the
redemption
of
Fund
shares.
Returns
may
reflect
fee
waivers
and/or
expense
reimbursements
by
the
investment
adviser
during
the
periods
presented.
If
any
such
waivers
and/or
reimbursements
had
not
been
in
place,
returns
would
have
been
reduced.
See
Notes
to
Financial
Statements,
Note
7—Management
Fees
and
Other
Transactions
with
Affiliates
for
more
information.
Returns
reflect
differences
in
sales
charges
and
expenses,
which
are
primarily
differences
in
distribution
and
service
fees,
and
assume
reinvestment
of
dividends
and
capital
gains.
Comparative
index
and
Lipper
return
information
is
provided
for
Class
A
Shares
at
NAV
only.
Expense
Ratios
The
expense
ratios
shown
are
as
of
the
Fund’s
most
recent
prospectus.
The
expense
ratios
shown
reflect
total
operating
expenses
(before
fee
waivers
and/or
expense
reimbursements,
if
any).
The
expense
ratios
include
management
fees
and
other
fees
and
expenses.
Refer
to
the
Financial
Highlights
later
in
this
report
for
the
Fund’s
expense
ratios
as
of
the
end
of
the
reporting
period.
Holding
Summaries
The
Holdings
Summaries
data
relates
to
the
securities
held
in
each
Fund’s
portfolio
of
investments
as
of
the
end
of
this
reporting
period.
It
should
not
be
construed
as
a
measure
of
performance
for
the
Fund
itself.
Holdings
are
subject
to
change.
Refer
to
the
Fund’s
Portfolio
of
Investments
for
individual
security
information.
For
financial
reporting
purposes,
the
ratings
disclosed
are
the
highest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
This
treatment
of
split-rated
securities
may
differ
from
that
used
for
other
purposes,
such
as
for
Fund
investment
policies.
Credit
ratings
are
subject
to
change.
AAA,
AA,
A
and
BBB
are
investment
grade
ratings;
BB,
B,
CCC,
CC,
C
and
D
are
below
investment
grade
ratings.
Holdings
designated
N/R
are
not
rated
by
these
national
rating
agencies.
Nuveen
Credit
Income
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
February
28,
2023
Refer
to
the
first
page
of
this
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries section
for
further
expla-
nation
of the
information
included
within
this
section.
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
terms
used
in
this
section.
Fund
Performance
and
Expense
Ratios*
*
For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
Bloomberg
U.S.
Corporate
High
Yield
2%
Issuer
Capped
Bond
Index.
**
Class
A
Shares
have
a
maximum
4.75%
sales
charge
(Offering
Price).
Class
A
Share
purchases
of
$1
million
or
more
are
sold
at
net
asset
value
without
an
up-front
sales
charge
but
may
be
subject
to
a
contingent
deferred
sales
charge
(CDSC)
of
1%
if
redeemed
within
eighteen
months
of
purchase.
Class
C
Shares
have
a
1%
CDSC
for
redemptions
within
less
than
twelve
months,
which
is reflected
in
the
maximum
Offering
Price
total
returns
presented
for
less
than
1-Year,
when
and
where
applicable.
Class
C
Shares
automatically
convert
to
Class
A
Shares
eight
years
after
purchase.
Returns
for
periods
longer
than
eight
years
for
Class
C
Shares
reflect
the
performance
of
Class
A
Shares
after
the
deemed
eight-year
conversion
to
Class
A
Shares
within
such
periods.
Class
I
Shares
have
no
sales
charge
and
may
be
purchased
under
limited
circumstances
or
by
specified
classes
of
investors.
***
The
Fund’s
investment
adviser
has
contractually
agreed
to
waive
fees
and/or
reimburse
expenses
through
July
31,
2024
so
that
the
total
annual
operating
expenses
(excluding
12b-1
distribution
and/or
service
fees,
interest
expenses,
taxes,
acquired
fund
fees
and
expenses,
fees
incurred
in
acquiring
and
disposing
of
portfolio
securities
and
extraordinary
expenses)
do
not
exceed
0.75% of
the
average
daily
net
assets
of
any
class
of
Fund
Shares.
This
expense
limitation may
be
terminated
or
modified
prior
to
that
date
only
with
the
approval
of
the
Board
of Directors
of
the
Fund.
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
Shares
at
NAV
8/30/01
1.90%
(5.06)%
1.42%
2.65%
1.15%
1.00%
Class
A
Shares
at
maximum
Offering
Price
8/30/01
(2.98)%
(9.58)%
0.45%
2.16%
—
—
Bloomberg
U.S.
Corporate
High
Yield
2%
Issuer
Capped
Bond
Index
—
2.52%
(5.45)%
2.85%
4.09%
—
—
Lipper
Global
High
Yield
Funds
Classification
Average
—
2.42%
(5.66)%
1.57%
2.91%
—
—
Class
C
Shares
at
NAV
8/30/01
1.54%
(5.79)%
0.65%
2.05%
1.90%
1.75%
Class
C
Shares
at
maximum
Offering
Price
8/30/01
0.55%
(5.79)%
0.65%
2.05%
—
—
Class
I
Shares
8/30/01
2.04%
(4.93)%
1.61%
2.89%
0.90%
0.75%
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
February
28,
2023
(continued)
Holdings
Summaries
as
of
February
28,
2023
Fund
Allocation
(%
of
net
assets)
Corporate
Bonds
60
.6
%
Asset-Backed
and
Mortgage-
Backed
Securities
22
.2
%
Variable
Rate
Senior
Loan
Interests
10
.3
%
$1,000
Par
(or
similar)
Institutional
Preferred
3
.0
%
Sovereign
Debt
2
.2
%
Contingent
Capital
Securities
1
.2
%
$25
Par
(or
similar)
Retail
Preferred
0
.6
%
Common
Stocks
0
.0
%
Investments
Purchased
with
Collateral
from
Securities
Lending
5
.6
%
Other
Assets
&
Liabilities,
Net
(5.7)%
Net
Assets
100
%
Bond
Credit
Quality
(%
of
total
long-term
fixed
income)
BBB
10.9%
BB
or
Lower
76.3%
N/R
(not
rated)
12.8%
Total
100
%
Corporate
Bonds:
Industries
1
(%
of
total
corporate
bonds)
Oil,
Gas
&
Consumable
Fuels
11.8%
Media
9.9%
Hotels,
Restaurants
&
Leisure
8.6%
Chemicals
6.4%
Health
Care
Providers
&
Services
4.8%
Diversified
Telecommunication
Services
4.0%
Insurance
2.9%
Specialty
Retail
2.8%
Metals
&
Mining
2.7%
Capital
Markets
2.7%
Aerospace
&
Defense
2.6%
Airlines
2.3%
Commercial
Services
&
Supplies
2.2%
Auto
Components
2.2%
Trading
Companies
&
Distributors
2.1%
Automobiles
2.0%
IT
Services
1.8%
Energy
Equipment
&
Services
1.7%
Food
&
Staples
Retailing
1.7%
Machinery
1.6%
Software
1.5%
Professional
Services
1.5%
Independent
Power
Producers
&
Energy
Traders
1.4%
Gas
Utilities
1.3%
Wireless
Telecommunication
Services
1.3%
Other
16.2%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Nuveen
Flexible
Income
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
February
28,
2023
Refer
to
the
first
page
of
this
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries section
for
further
expla-
nation
of the
information
included
within
this
section.
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
terms
used
in
this
section.
Fund
Performance
and
Expense
Ratios*
*
For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
Flexible
Income
Blended
Benchmark.
The
Fund’s
Blended
Benchmark
consist
of:
1)
50%
ICE
BofA
U.S.
Corporate
Index
and
2)
50%
ICE
BofA
U.S.
High
Yield
Index.
**
Class
A
Shares
have
a
maximum
4.75%
sales
charge
(Offering
Price).
Class
A
Share
purchases
of
$1
million
or
more
are
sold
at
net
asset
value
without
an
up-front
sales
charge
but
may
be
subject
to
a
contingent
deferred
sales
charge
(CDSC)
of
1%
if
redeemed
within
eighteen
months
of
purchase.
Class
C
Shares
have
a
1%
CDSC
for
redemptions
within
less
than
twelve
months,
which
is
reflected
in
the
maximum
Offering
Price
total
returns
presented
for
less
than
1-Year,
when
and
where
applicable.
Class
C
Shares
automatically
convert
to
Class
A
Shares eight
years
after
purchase.
Returns
for
periods
longer
than
eight
years
for
Class
C
Shares
reflect
the
performance
of
Class
A
Shares
after
the
deemed
eight-year
conversion
to
Class
A
Shares
within
such
periods.
Class
R6
Shares
have
no
sales
charge
and
are
available
only
to
certain
limited
categories
of
investors
as
described
in
the
prospectus.
Class
I
Shares
have
no
sales
charge
and
may
be
purchased
under
limited
circumstances
or
by
specified
classes
of
investors.
***
The
Fund’s
investment
adviser
has
contractually
agreed
to
waive
fees
and/or
reimburse
expenses
through
July
31,
2024 so
that
total
annual
Fund
operating
expenses
(excluding
12b-1
distribution
and/or
service
fees,
interest
expenses,
taxes,
acquired
fund
fees
and
expenses,
fees
incurred
in
acquiring
and
disposing
of
portfolio
securities
and
extraordinary
expenses)
do
not
exceed
0.75%
(1.25%
after
July
31,
2024)
of
the
average
daily
net
assets
of
any
class
of
Fund
shares.
However,
because
Class
R6
Shares
are
not
subject
to
sub-transfer
agent
and
similar
fees,
the
total
annual
Fund
operating
expenses
for
Class
R6
Shares
will
be
less
than
the
expense
limitation.
The
expense
limitation
expiring
July
31,
2024,
may
be
terminated
or
modified
prior
to
that
date
only
with
the
approval
of
the
Board
of
Trustees
of
the
Fund.
The
expense
limitation
in
effect
thereafter
may
be
terminated
or
modified
only
with
the
approval
of
shareholders
of
the
Fund.
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
Shares
at
NAV
12/09/09
0.67%
(7.51)%
1.91%
3.48%
1.02%
0.95%
Class
A
Shares
at
maximum
Offering
Price
12/09/09
(4.11)%
(11.90)%
0.92%
2.98%
—
—
Bloomberg
U.S.
Aggregate
Bond
Index
—
(2.13)%
(9.72)%
0.53%
1.12%
—
—
Flexible
Income
Blended
Benchmark
—
0.64%
(7.72)%
2.00%
3.09%
—
—
Lipper
Flexible
Income
Funds
Classification
Average
—
1.80%
(4.10)%
2.42%
3.39%
—
—
Class
C
Shares
at
NAV
12/09/09
0.30%
(8.20)%
1.15%
2.87%
1.77%
1.70%
Class
C
Shares
at
maximum
Offering
Price
12/09/09
(0.67)%
(8.20)%
1.15%
2.87%
—
—
Class
I
Shares
12/09/09
0.80%
(7.30)%
2.16%
3.75%
0.77%
0.70%
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios***
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Gross
Net
Class
R6
Shares
6/30/16
0.84%
(7.23)%
2.29%
3.59%
0.71%
0.64%
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
February
28,
2023
(continued)
Holdings
Summaries
as
of
February
28,
2023
Fund
Allocation
(%
of
net
assets)
Corporate
Bonds
46
.2
%
$1,000
Par
(or
similar)
Institutional
Preferred
25
.4
%
Common
Stocks
15
.5
%
$25
Par
(or
similar)
Retail
Preferred
5
.5
%
Convertible
Preferred
Securities
2
.1
%
Structured
Notes
1
.2
%
Convertible
Bonds
0
.6
%
Investments
Purchased
with
Collateral
from
Securities
Lending
3
.2
%
Repurchase
Agreements
2
.5
%
Other
Assets
&
Liabilities,
Net
(2.2)%
Net
Assets
100
%
Top
Five
Common
Stock
Holdings
(%
of
net
assets)
Public
Storage
0.8%
Shell
PLC,
ADR
0.8%
Humana
Inc
0.8%
Walmart
Inc
0.8%
Sanofi,
ADR
0.7%
Portfolio
Composition
1
(%
of
net
assets)
Banks
10.3%
Media
6.1%
Oil,
Gas
&
Consumable
Fuels
5.2%
Electric
Utilities
4.9%
Technology
Hardware,
Storage
&
Peripherals
4.8%
Consumer
Finance
3.8%
Health
Care
Providers
&
Services
3.7%
Insurance
3.5%
Chemicals
3.1%
Automobiles
3.0%
Capital
Markets
2.7%
Food
&
Staples
Retailing
2.7%
Equity
Real
Estate
Investment
Trusts
2.7%
Semiconductors
&
Semiconductor
Equipment
2.4%
Multi-Utilities
2.4%
Hotels,
Restaurants
&
Leisure
2.2%
Trading
Companies
&
Distributors
2.0%
Independent
Power
Producers
&
Energy
Traders
2.0%
Software
2.0%
Auto
Components
2.0%
Specialty
Retail
1.8%
Pharmaceuticals
1.7%
Communications
Equipment
1.6%
Other
18.7%
Structured
Notes
1.2%
Investments
Purchased
with
Collateral
from
Securities
Lending
3.2%
Repurchase
Agreements
2.5%
Other
Assets
&
Liabilities,
Net
(2.2)%
Net
Assets
100%
Bond
Credit
Quality
(%
of
total
long-term
fixed
income)
A
3.6%
BBB
53.2%
BB
or
Lower
42.0%
N/R
(not
rated)
1.2%
Total
100
%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Nuveen
Floating
Rate
Income
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
February
28,
2023
Refer
to
the
first
page
of
this
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries section
for
further
expla-
nation
of the
information
included
within
this
section.
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
terms
used
in
this
section.
Fund
Performance
and
Expense
Ratios*
*
For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
Credit
Suisse
Leverage
Loan
Index.
**
Class
A
Shares
have
a
maximum
3.00%
sales
charge
(Offering
Price).
Class
A
Share
purchases
of
$500,000
or
more
are
sold
at
net
asset
value
without
an
up-front
sales
charge
but
may
be
subject
to
a
contingent
deferred
sales
charge
(CDSC)
of
1%
if
redeemed
within
eighteen
months
of
purchase.
Class
C
Shares
have
a
1%
CDSC
for
redemptions
within
less
than
twelve
months,
which
is
reflected
in
the
maximum
Offering
Price
total
returns
presented
for
less
than
1-Year,
when
and
where
applicable.
Class
C
Shares
automatically
convert
to
Class
A
Shares eight
years
after
purchase.
Returns
for
periods
longer
than
eight
years
for
Class
C
Shares
reflect
the
performance
of
Class
A
Shares
after
the
deemed
eight-year
conversion
to
Class
A
Shares
within
such
periods.
Class
R6
Shares
have
no
sales
charge
and
are
available
only
to
certain
limited
categories
of
investors
as
described
in
the
prospectus.
Class
I
Shares
have
no
sales
charge
and
may
be
purchased
under
limited
circumstances
or
by
specified
classes
of
investors.
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
Inception
Date
6-Month
1-Year
5-Year
10-Year
Class
A
Shares
at
NAV
5/02/11
3.15%
1.41%
3.11%
3.45%
0.96%
Class
A
Shares
at
maximum
Offering
Price
5/02/11
0.06%
(1.63)%
2.48%
3.14%
—
Credit
Suisse
Leveraged
Loan
Index
—
3.33%
2.26%
3.63%
3.96%
—
Lipper
Loan
Participation
Funds
Classification
Average
—
3.01%
0.96%
2.38%
2.83%
—
Class
C
Shares
at
NAV
5/02/11
2.78%
0.66%
2.34%
2.84%
1.71%
Class
C
Shares
at
maximum
Offering
Price
5/02/11
1.78%
0.66%
2.34%
2.84%
—
Class
I
Shares
5/02/11
3.23%
1.68%
3.37%
3.72%
0.71%
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Class
R6
Shares
1/28/15
3.27%
1.77%
3.46%
3.66%
0.63%
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
February
28,
2023
(continued)
Holdings
Summaries
as
of
February
28,
2023
Fund
Allocation
(%
of
net
assets)
Variable
Rate
Senior
Loan
Interests
82
.5
%
Corporate
Bonds
14
.8
%
Common
Stocks
1
.3
%
Exchange-Traded
Funds
0
.8
%
Warrants
0
.4
%
Convertible
Preferred
Securities
0
.0
%
Investments
Purchased
with
Collateral
from
Securities
Lending
0
.5
%
Short-Term
Investment
Companies
0
.1
%
Other
Assets
&
Liabilities,
Net
(0.4)%
Net
Assets
100
%
Corporate
Bonds:
Industries
1
(%
of
total
corporate
bonds)
Health
Care
Providers
&
Services
15.7%
Hotels,
Restaurants
&
Leisure
10.2%
Commercial
Services
&
Supplies
9.7%
Electric
Utilities
9.3%
Airlines
9.2%
Oil,
Gas
&
Consumable
Fuels
7.9%
Media
7.2%
Chemicals
5.8%
Specialty
Retail
4.1%
Communications
Equipment
3.9%
Other
17.0%
Total
100%
Portfolio
Credit
Quality
(%
of
total
long-term
fixed
income
investments)
BBB
10.1%
BB
or
Lower
85.9%
N/R
(not
rated)
4.0%
Total
100
%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Nuveen
High
Yield
Income
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
February
28,
2023
Refer
to
the
first
page
of
this
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries section
for
further
expla-
nation
of the
information
included
within
this
section.
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
terms
used
in
this
section.
Fund
Performance
and
Expense
Ratios*
*
For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
ICE
BofA
U.S.
High
Yield
Index.
**
Class
A
Shares
have
a
maximum
4.75%
sales
charge
(Offering
Price).
Class
A
Share
purchases
of
$1
million
or
more
are
sold
at
net
asset
value
without
an
up-front
sales
charge
but
may
be
subject
to
a
contingent
deferred
sales
charge
(CDSC)
of
1%
if
redeemed
within
eighteen
months
of
purchase.
Class
C
Shares
have
a
1%
CDSC
for
redemptions
within
less
than
twelve
months,
which
is
reflected
in
the
maximum
Offering
Price
total
returns
presented
for
less
than
1-Year,
when
and
where
applicable.
Class
C
Shares
automatically
convert
to
Class
A
Shares eight
years
after
purchase.
Returns
for
periods
longer
than
eight
years
for
Class
C
Shares
reflect
the
performance
of
Class
A
Shares
after
the
deemed
eight-year
conversion
to
Class
A
Shares
within
such
periods.
Class
R6
Shares
have
no
sales
charge
and
are
available
only
to
certain
limited
categories
of
investors
as
described
in
the
prospectus.
Class
I
Shares
have
no
sales
charge
and
may
be
purchased
under
limited
circumstances
or
by
specified
classes
of
investors.
***
The
Fund’s
investment
adviser
has
contractually
agreed
to
waive
fees
and/or
reimburse
expenses
so
that
the
total
annual
operating
expenses
of
the
Fund
(excluding
12b-1
distribution
and/or
service
fees,
interest
expenses,
taxes,
acquired
fund
fees
and
expenses,
fees
incurred
in
acquiring
and
disposing
of
portfolio
securities
and
extraordinary
expenses)
do
not
exceed
0.79%
through
July
31,
2024
or
1.35%
after
July
31,
2024
of
the
average
daily
net
assets
of
any
class
of
Fund
shares.
However,
because
Class
R6
shares
are
not
subject
to
sub-transfer
agent
and
similar
fees,
the
total
annual
operating
expenses
for
the
Class
R6
shares
will
be
less
than
the
expense
limitation.
The
expense
limitation
expiring
July
31,
2024
may
be
terminated
or
modified
prior
to
that
date
only
with
the
approval
of
the
Board
of
Trustees
of
the
Fund.
The
expense
limitation
in
effect
thereafter
may
be
terminated
or
modified
only
with
the
approval
of
shareholders
of
the
Fund.
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
Shares
at
NAV
4/28/10
2.13%
(5.42)%
2.03%
3.28%
1.05%
1.00%
Class
A
Shares
at
maximum
Offering
Price
4/28/10
(2.72)%
(9.91)%
1.04%
2.78%
—
—
ICE
BofA
U.S.
High
Yield
Index
—
2.36%
(5.52)%
2.70%
4.02%
—
—
Lipper
High
Yield
Funds
Classification
Average
—
2.08%
(5.52)%
2.28%
3.28%
—
—
Class
C
Shares
at
NAV
4/28/10
1.75%
(6.10)%
1.28%
2.66%
1.80%
1.75%
Class
C
Shares
at
maximum
Offering
Price
4/28/10
0.76%
(6.10)%
1.28%
2.66%
—
—
Class
I
Shares
4/28/10
2.25%
(5.17)%
2.29%
3.54%
0.80%
0.75%
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios***
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Gross
Net
Class
R6
Shares
10/1/14
2.32%
(4.98)%
2.42%
3.16%
0.67%
0.62%
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
February
28,
2023
(continued)
Holdings
Summaries
as
of
February
28,
2023
Fund
Allocation
(%
of
net
assets)
Corporate
Bonds
79.8%
Variable
Rate
Senior
Loan
Interests
11.3%
Exchange-Traded
Funds
4.1%
$1,000
Par
(or
similar)
Institutional
Preferred
2.0%
Common
Stocks
0.6%
Warrants
0.5%
Investments
Purchased
with
Collateral
from
Securities
Lending
3.2%
Short-Term
Investment
Companies
3.7%
Other
Assets
&
Liabilities,
Net
(5.2)%
Net
Assets
100%
Portfolio
Composition
1
(%
of
net
assets)
Oil,
Gas
&
Consumable
Fuels
8.5%
Media
8.2%
Hotels,
Restaurants
&
Leisure
7.3%
Chemicals
4.5%
Health
Care
Providers
&
Services
4.2%
Capital
Markets
3.2%
Diversified
Telecommunication
Services
3.2%
Commercial
Services
&
Supplies
2.9%
Insurance
2.8%
Energy
Equipment
&
Services
2.6%
Specialty
Retail
2.4%
Health
Care
Equipment
&
Supplies
2.3%
Trading
Companies
&
Distributors
2.2%
Aerospace
&
Defense
2.2%
Wireless
Telecommunication
Services
2.2%
Software
2.2%
Airlines
2.1%
Consumer
Finance
2.0%
Metals
&
Mining
1.8%
Communications
Equipment
1.8%
Containers
&
Packaging
1.7%
Auto
Components
1.7%
Equity
Real
Estate
Investment
Trusts
1.6%
Automobiles
1.6%
Other
19.0%
Exchange-Traded
Funds
4.1%
Investments
Purchased
with
Collateral
from
Securities
Lending
3.2%
Short-Term
Investment
Companies
3.7%
Other
Assets
&
Liabilities,
Net
(5.2)%
Net
Assets
100%
Top
Five
Holdings
(%
of
net
assets)
Invesco
Senior
Loan
ETF
4.1%
BlackRock
Liquidity
Funds
T-Fund
3.8%
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
3.2%
Prime
Security
Services
Borrower
LLC
/
Prime
Finance
Inc
1.3%
Carnival
Corp
1.0%
Portfolio
Credit
Quality
(%
of
total
long-term
fixed
income
investments)
BBB
10.4%
BB
or
Lower
89.6%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Nuveen
Preferred
Securities
and
Income
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
February
28,
2023
Refer
to
the
first
page
of
this
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries section
for
further
expla-
nation
of the
information
included
within
this
section.
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
terms
used
in
this
section.
Fund
Performance
and
Expense
Ratios*
*
For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
Preferred
Securities
and
Income
Blended
Benchmark.
The
Fund’s
Blended
Benchmark
consists
of
1)
65%
ICE
BofA
Fixed
Rate
Preferred
Securities
Index
and
2)
35%
Bloomberg
Capital
Securities
Index
through
December
30,
2013,
and
thereafter
1)
60%
ICE
BofA
U.S.
All
Capital
Securities
Index
and
2)
40%
ICE
USD
Contingent
Capital
Index.
Refer
to
the
Glossary
of
Terms
Used
in
This
Report
for
further
details
on
the
Fund's
Blended
Benchmark
compositions
through
January
28,
2021.
**
Class
A
Shares
have
a
maximum
4.75%
sales
charge
(Offering
Price).
Class
A
Share
purchases
of
$1
million
or
more
are
sold
at
net
asset
value
without
an
up-front
sales
charge
but
may
be
subject
to
a
contingent
deferred
sales
charge
(CDSC)
of
1%
if
redeemed
within
eighteen
months
of
purchase.
Class
C
Shares
have
a
1%
CDSC
for
redemptions
within
less
than
twelve
months,
which
is
reflected
in
the
maximum
Offering
Price
total
returns
presented
for
less
than
1-Year,
when
and
where
applicable.
Class
C
Shares
automatically
convert
to
Class
A
Shares eight
years
after
purchase.
Returns
for
periods
longer
than
eight
years
for
Class
C
Shares
reflect
the
performance
of
Class
A
Shares
after
the
deemed
eight-year
conversion
to
Class
A
Shares
within
such
periods.
Class
R6
Shares
have
no
sales
charge
and
are
available
only
to
certain
limited
categories
of
investors
as
described
in
the
prospectus.
Class
I
Shares
have
no
sales
charge
and
may
be
purchased
under
limited
circumstances
or
by
specified
classes
of
investors.
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
Inception
Date
6-Month
1-Year
5-Year
10-Year
Class
A
Shares
at
NAV
12/19/06
2.85%
(2.65)%
2.91%
4.40%
0.99%
Class
A
Shares
at
maximum
Offering
Price
12/19/06
(2.02)%
(7.28)%
1.91%
3.90%
—
ICE
BofA
U.S.
All
Capital
Securities
Index
—
2.43%
(3.93)%
2.92%
4.52%
—
Preferred
Securities
and
Income
Blended
Benchmark
—
3.14%
(3.71)%
3.08%
4.45%
—
Lipper
Flexible
Income
Funds
Classification
Average
—
1.80%
(4.10)%
2.42%
3.39%
—
Class
C
Shares
at
NAV
12/19/06
2.48%
(3.38)%
2.13%
3.78%
1.74%
Class
C
Shares
at
maximum
Offering
Price
12/19/06
1.48%
(3.38)%
2.13%
3.78%
—
Class
I
Shares
12/19/06
2.99%
(2.44)%
3.15%
4.66%
0.74%
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Class
R6
Shares
6/30/16
3.07%
(2.33)%
3.25%
4.41%
0.67%
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
February
28,
2023
(continued)
Holdings
Summaries
as
of
February
28,
2023
Fund
Allocation
(%
of
net
assets)
$1,000
Par
(or
similar)
Institutional
Preferred
49.4%
Contingent
Capital
Securities
31.7%
$25
Par
(or
similar)
Retail
Preferred
16.9%
Investments
Purchased
with
Collateral
from
Securities
Lending
2.2%
Repurchase
Agreements
0.5%
Other
Assets
&
Liabilities,
Net
(0.7)%
Net
Assets
100%
Top
Five
Holdings
(%
of
net
assets)
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
2.2%
HSBC
Holdings
PLC
1.6%
JPMorgan
Chase
&
Co
1.4%
Deutsche
Bank
AG
1.4%
Lloyds
Banking
Group
PLC
1.3%
Portfolio
Composition
1
(%
of
net
assets)
Banks
47.4%
Insurance
14.2%
Capital
Markets
12.8%
Food
Products
3.9%
Diversified
Financial
Services
3.8%
Other
15.9%
Investments
Purchased
with
Collateral
from
Securities
Lending
2.2%
Repurchase
Agreements
0.5%
Other
Assets
&
Liabilities,
Net
(0.7)%
Net
Assets
100%
Portfolio
Credit
Quality
(%
of
total
long-term
fixed
income
investments)
A
0.2%
BBB
67.4%
BB
or
Lower
30.1%
N/R
(not
rated)
2.3%
Total
100%
Country
Allocation
2
(%
of
net
assets)
United
States
58.1%
United
Kingdom
11.8%
Switzerland
7.5%
France
5.5%
Spain
2.6%
Canada
2.5%
Netherlands
2.3%
Australia
2.0%
Germany
1.5%
Ireland
1.4%
Other
3.3%
Investments
Purchased
with
Collateral
from
Securities
Lending
2.2%
Other
Assets
&
Liabilities,
Net
(0.7)%
Net
Assets
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
2
Includes
2.0%
(as
a
percentage
of
net
assets)
in
emerging
market
countries.
Nuveen
Strategic
Income
Fund
(continued)
Fund
Performance,
Expense
Ratios
and
Holding
Summaries
February
28,
2023
Refer
to
the
first
page
of
this
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries section
for
further
expla-
nation
of the
information
included
within
this
section.
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
terms
used
in
this
section.
Fund
Performance
and
Expense
Ratios*
*
For
Purposes
of
Fund
performance,
relative
results
are
measured
against
the
Bloomberg
U.S.
Aggregate
Bond
Index.
**
Class
A
Shares
have
a
maximum
4.25%
sales
charge
(Offering
Price).
Class
A
Share
purchases
of
$1
million
or
more
are
sold
at
net
asset
value
without
an
up-front
sales
charge
but
may
be
subject
to
a
contingent
deferred
sales
charge
(CDSC)
of
1%
if
redeemed
within
eighteen
months
of
purchase.
Class
C
Shares
have
a
1%
CDSC
for
redemptions
within
less
than
twelve
months,
which
is
reflected
in
the
maximum
Offering
Price
total
returns
presented
for
less
than
1-Year,
when
and
where
applicable.
Class
C
Shares
automatically
convert
to
Class
A
Shares eight
years
after
purchase.
Returns
for
periods
longer
than
eight
years
for
Class
C
Shares
reflect
the
performance
of
Class
A
Shares
after
the
deemed
eight-year
conversion
to
Class
A
Shares
within
such
periods.
Class
R6
Shares
have
no
sales
charge
and
are
available
only
to
certain
limited
categories
of
investors
as
described
in
the
prospectus.
Class
I
Shares
have
no
sales
charge
and
may
be
purchased
under
limited
circumstances
or
by
specified
classes
of
investors.
***
The
Fund’s
investment
adviser
has
contractually
agreed
to
waive
fees
and/or
reimburse
expenses
through
July
31,
2024
so
that
the
total
annual
operating
expenses
(excluding
12b-1
distribution
and/or
service
fees,
interest
expenses,
taxes,
acquired
fund
fees
and
expenses,
fees
incurred
in
acquiring
and
disposing
of
portfolio
securities
and
extraordinary
expenses)
do
not
exceed
0.59%
of
the
average
daily
net
assets
of
any
class
of
Fund
Shares.
However,
because
the
Class
R6
shares
are
not
subject
to
sub-transfer agent
and
similar
fees,
the
total
annual
operating
expenses
for
the
Class
R6
shares
will
be
less
than
the
expense
limitation.
This
expense
limitation
may
be
terminated
or
modified
prior
to
that
date
only
with
the
approval
of
the
Board
of
Directors
of
the
Fund.
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios
***
Inception
Date
6-Month
1-Year
5-Year
10-Year
Gross
Net
Class
A
Shares
at
NAV
2/01/00
0.74%
(5.46)%
2.02%
2.40%
0.93%
0.83%
Class
A
Shares
at
maximum
Offering
Price
2/01/00
(3.51)%
(9.46)%
1.13%
1.96%
—
—
Bloomberg
U.S.
Aggregate
Bond
Index
—
(2.13)%
(9.72)%
0.53%
1.12%
—
—
Lipper
Multi-Sector
Income
Funds
Classification
Average
—
0.03%
(6.45)%
1.13%
2.29%
—
—
Class
C
Shares
at
NAV
2/01/00
0.36%
(6.21)%
1.24%
1.79%
1.68%
1.58%
Class
C
Shares
at
maximum
Offering
Price
2/01/00
(0.62)%
(6.21)%
1.24%
1.79%
—
—
Class
I
Shares
2/01/00
0.86%
(5.20)%
2.27%
2.65%
0.68%
0.58%
Total
Returns
as
of
February
28,
2023**
Cumulative
Average
Annual
Expense
Ratios***
Inception
Date
6-Month
1-Year
5-Year
Since
Inception
Gross
Net
Class
R6
Shares
1/20/15
0.93%
(5.08)%
2.36%
2.48%
0.59%
0.49%
Fund
Performance,
Expense
Ratios
and
Holdings
Summaries
February
28,
2023
(continued)
Holdings
Summaries
as
of
February
28,
2023
Fund
Allocation
(%
of
net
assets)
Asset-Backed
and
Mortgage-
Backed
Securities
46
.8
%
Corporate
Bonds
27
.7
%
$1,000
Par
(or
similar)
Institutional
Preferred
8
.4
%
Sovereign
Debt
7
.2
%
Variable
Rate
Senior
Loan
Interests
3
.2
%
Contingent
Capital
Securities
2
.9
%
$25
Par
(or
similar)
Retail
Preferred
0
.4
%
Investments
Purchased
with
Collateral
from
Securities
Lending
1
.6
%
Repurchase
Agreements
3
.2
%
Other
Assets
&
Liabilities,
Net
(1.4)%
Net
Assets
100
%
Corporate
Bonds:
Industries
1
(%
of
total
corporate
bonds)
Oil,
Gas
&
Consumable
Fuels
11.1%
Banks
10.9%
Electric
Utilities
4.7%
Wireless
Telecommunication
Services
4.3%
Equity
Real
Estate
Investment
Trusts
3.8%
Capital
Markets
3.8%
Chemicals
3.4%
Media
3.1%
Metals
&
Mining
3.0%
Hotels,
Restaurants
&
Leisure
3.0%
Beverages
2.9%
IT
Services
2.8%
Energy
Equipment
&
Services
2.7%
Insurance
2.4%
Specialty
Retail
2.3%
Pharmaceuticals
2.2%
Interactive
Media
&
Services
2.2%
Trading
Companies
&
Distributors
2.1%
Automobiles
2.0%
Independent
Power
Producers
&
Energy
Traders
1.9%
Health
Care
Providers
&
Services
1.9%
Diversified
Financial
Services
1.9%
Diversified
Telecommunication
Services
1.7%
Airlines
1.5%
Semiconductors
&
Semiconductor
Equipment
1.4%
Other
17.0%
Total
100%
Bond
Credit
Quality
(%
of
total
long-term
fixed
income)
AAA
5.1%
AA
5.1%
A
11.7%
BBB
38.7%
BB
or
Lower
30.0%
N/R
(not
rated)
9.4%
Total
100
%
1
See
the
Portfolio
of
Investments
for
the
remaining
industries/sectors
comprising “Other”
and
not
listed
in
the
table
above.
Yields
as
of
February
28,
2023
Dividend
Yield
is
the
most
recent
dividend
per
share
(annualized)
divided
by
the
offering
price
per
share.
The
SEC
30-Day
Yield
is
a
standardized
measure
of
a
fund’s
yield
that
accounts
for
the
future
amortization
of
premiums
or
discounts
of
bonds
held
in
the
fund’s
portfolio.
The
SEC
30-Day
Yield
is
computed
under
an
SEC
standardized
formula
and
is
based
on
the
maximum
offer
price
per
share.
Subsidized
yields
reflect
fee
waivers
and/or
expense
reimbursements
from
the
investment
adviser
during
the
period.
If
any
such
waivers
and/or
reimbursements
had
not
been
in
place,
yields
would
have
been
reduced.
Unsubsidized
yields
do
not
reflect
waivers
and/or
reimbursements
from
the
investment
adviser
during
the
period.
Refer
to
the
Notes
to
Financial
Statements,
for
further
details
on
the
investment
adviser’s
most
recent
agreement
with
the
Fund
to
waive
fees
and/or
reimburse
expenses,
where
applicable.
Dividend
Yield
may
differ
from
the
SEC
30-Day
Yield
because
the
fund
may
be
paying
out
more
or
less
than
it
is
earning
and
it
may
not
include
the
effect
of
amortization
of
bond
premium.
Nuveen
Credit
Income
Fund
Share
Class
Class
A
1
Class
C
Class
I
Dividend
Yield
6
.27
%
5
.83
%
6
.86
%
SEC
30-Day
Yield
-
Subsidized
7
.30
%
6
.89
%
7
.90
%
SEC
30-Day
Yield
-
Unsubsidized
7
.15
%
6
.73
%
7
.74
%
Nuveen
Flexible
Income
Fund
Share
Class
Class
A
1
Class
C
Class
R6
Class
I
Dividend
Yield
5
.11
%
4
.62
%
5
.68
%
5
.62
%
SEC
30-Day
Yield
-
Subsidized
4
.78
%
4
.26
%
5
.35
%
5
.28
%
SEC
30-Day
Yield
-
Unsubsidized
4
.72
%
4
.20
%
5
.28
%
5
.21
%
Nuveen
Floating
Rate
Income
Fund
Share
Class
Class
A
1
Class
C
Class
R6
Class
I
Dividend
Yield
7
.46
%
6
.96
%
8
.01
%
7
.94
%
SEC
30-Day
Yield
7
.38
%
6
.85
%
7
.98
%
7
.86
%
Nuveen
High
Yield
Income
Fund
Share
Class
Class
A
1
Class
C
Class
R6
Class
I
Dividend
Yield
6
.20
%
5
.77
%
6
.89
%
6
.75
%
SEC
30-Day
Yield
-
Subsidized
6
.62
%
6
.19
%
7
.38
%
7
.22
%
SEC
30-Day
Yield
-
Unsubsidized
6
.53
%
6
.10
%
7
.29
%
7
.13
%
Nuveen
Preferred
Securities
and
Income
Fund
Share
Class
Class
A
1
Class
C
Class
R6
Class
I
Dividend
Yield
5
.13
%
4
.68
%
5
.71
%
5
.65
%
SEC
30-Day
Yield
5
.44
%
4
.95
%
6
.02
%
5
.95
%
Nuveen
Strategic
Income
Fund
Share
Class
Class
A
1
Class
C
Class
R6
Class
I
Dividend
Yield
4
.63
%
4
.13
%
5
.22
%
5
.11
%
SEC
30-Day
Yield
-
Subsidized
5
.81
%
5
.04
%
6
.17
%
6
.07
%
SEC
30-Day
Yield
-
Unsubsidized
5
.70
%
4
.94
%
6
.06
%
5
.96
%
1
The
SEC
Yield
for
Class
A
shares
quoted
in
the
table
reflects
the
maximum
sales
load.
Investors
paying
a
reduced
load
because
of
volume
discounts,
investors
paying
no
load
because
they
qualify
for
one
of
the
several
exclusions
from
the
load
and
existing
shareholders
who
previously
paid
a
load
but
would
like
to
know
the
SEC
Yield
applicable
to
their
shares
on
a
going-forward
basis,
should
understand
the
SEC
Yield
effectively
applicable
to
them
would
be
higher
than
the
figure
quoted
in
the
table.
As
a
shareholder
of
one
or
more
of
the
Funds,
you
incur
two
types
of
costs:
(1)
transaction
costs, including
up-front
and
back-end
sales
charges
(loads)
or
redemption
fees,
where
applicable;
and
(2)
ongoing
costs,
including
management
fees;
distribution
and
service
(12b-1)
fees,
where
applicable;
and
other
Fund
expenses.
The
Examples
below
are
intended
to
help
you
understand
your
ongoing
costs
(in
dollars)
of
investing
in
the
Funds
and
to
compare
these
costs
with
the
ongoing
costs
of investing
in
other
mutual
funds.
The
Examples
below
are
based
on
an
investment
of
$1,000
invested
at
the
beginning
of
the
period
and
held
through
the
period
ended
February
28,
2023.
The
beginning
of
the
period
is
September
1,
2022.
The
information
under
“Actual
Performance,”
together
with
the
amount
you
invested,
allows
you
to
estimate
actual
expenses
incurred
over
the
reporting
period.
Simply
divide
your
account
value
by
$1,000
(for
example,
an
$8,600
account
value
divided
by
$1,000
=
8.60)
and
multiply
the
result
by
the
cost
shown
for
your
share
class,
in
the
row
entitled
“Expenses
Incurred
During
Period”
to
estimate
the
expenses
incurred
on
your
account
during
this
period.
The
information
under
“Hypothetical
Performance,”
provides
information
about
hypothetical
account
values
and
hypothetical
expenses
based
on
each
Fund’s
actual
expense
ratios
and
an
assumed
rate
of
return
of
5%
per
year
before
expenses,
which
is
not
the
Fund’s
actual
return.
The
hypothetical
account
values
and
expenses
may
not
be
used
to
estimate
the
actual
ending
account
balance
or
expense
you
incurred
for
the
period.
You
may
use
this
information
to
compare
the
ongoing
costs
of
investing
in
the
Fund
and
other
funds.
To
do
so,
compare
this
5%
hypothetical
example
with
the
5%
hypothetical
examples
that
appear
in
the
shareholder
reports
of
the
other
funds.
Please
note
that
the
expenses
shown
in
the
following
tables
are
meant
to
highlight
your
ongoing
costs
only
and
do
not
reflect
any
transaction
costs.
Therefore,
the
hypothetical
information
is
useful
in
comparing
ongoing
costs
only,
and
will
not
help
you
determine
the
relative
total
costs
of
owning
different
funds
or
share
classes.
In
addition,
if
these
transaction
costs
were
included,
your
costs
would
have
been
higher.
Nuveen
Credit
Income
Fund
Share
Class
Class
A
Class
C
Class
I
Actual
Performance
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,019.01
$
1,015.37
$
1,020.42
Expenses
Incurred
During
the
Period
$
5.06
$
8.79
$
3.81
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,019.79
$
1,016.07
$
1,021.03
Expenses
Incurred
During
the
Period
$
5.06
$
8.80
$
3.81
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
1.01%,
1.76%
and
0.76%
for
Classes
A,
C
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
Nuveen
Flexible
Income
Fund
Share
Class
Class
A
Class
C
Class
R6
Class
I
Actual
Performance
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,006.71
$
1,002.98
$
1,008.40
$
1,008.01
Expenses
Incurred
During
the
Period
$
4.78
$
8.49
$
3.24
$
3.53
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,020.03
$
1,016.31
$
1,021.57
$
1,021.27
Expenses
Incurred
During
the
Period
$
4.81
$
8.55
$
3.26
$
3.56
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
0.96%,
1.71%,
0.65%
and
0.71%
for
Classes
A,
C,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
Expense
Examples
(continued)
Nuveen
Floating
Rate
Income
Fund
Share
Class
Class
A
Class
C
Class
R6
Class
I
Actual
Performance
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,031.55
$
1,027.76
$
1,032.71
$
1,032.32
Expenses
Incurred
During
the
Period
$
4.84
$
8.60
$
3.23
$
3.58
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,020.03
$
1,016.31
$
1,021.62
$
1,021.27
Expenses
Incurred
During
the
Period
$
4.81
$
8.55
$
3.21
$
3.56
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
0.96%,
1.71%,
0.64%
and
0.71%
for
Classes
A,
C,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
Nuveen
High
Yield
Income
Fund
Share
Class
Class
A
Class
C
Class
R6
Class
I
Actual
Performance
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,021.27
$
1,017.49
$
1,023.16
$
1,022.52
Expenses
Incurred
During
the
Period
$
5.01
$
8.75
$
3.01
$
3.76
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,019.84
$
1,016.12
$
1,021.82
$
1,021.08
Expenses
Incurred
During
the
Period
$
5.01
$
8.75
$
3.01
$
3.76
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
1.00%,
1.75%,
0.60%
and
0.75%
for
Classes
A,
C,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
Nuveen
Preferred
Securities
and
Income
Fund
Share
Class
Class
A
Class
C
Class
R6
Class
I
Actual
Performance
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,028.51
$
1,024.78
$
1,030.74
$
1,029.90
Expenses
Incurred
During
the
Period
$
5.08
$
8.84
$
3.42
$
3.83
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,019.79
$
1,016.07
$
1,021.42
$
1,021.03
Expenses
Incurred
During
the
Period
$
5.06
$
8.80
$
3.41
$
3.81
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
1.01%,
1.76%,
0.68%
and
0.76%
for
Classes
A,
C,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
Nuveen
Strategic
Income
Fund
Share
Class
Class
A
Class
C
Class
R6
Class
I
Actual
Performance
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,007.38
$
1,003.59
$
1,009.26
$
1,008.65
Expenses
Incurred
During
the
Period
$
4.13
$
7.85
$
2.44
$
2.89
Hypothetical
Performance
(5%
annualized
return
before
expenses)
Beginning
Account
Value
$
1,000.00
$
1,000.00
$
1,000.00
$
1,000.00
Ending
Account
Value
$
1,020.68
$
1,016.96
$
1,022.36
$
1,021.92
Expenses
Incurred
During
the
Period
$
4.16
$
7.90
$
2.46
$
2.91
For
each
class
of
the
Fund,
expenses
are
equal
to
the
Fund’s
annualized
net
expense
ratio
of
0.83%,
1.58%,
0.49%
and
0.58%
for
Classes
A,
C,
R6
and
I,
respectively,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181
/365
(to
reflect
the
one-half
year
period).
Nuveen
Credit
Income
Fund
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
LONG-TERM
INVESTMENTS
-
100.1%
X
49,269,322
CORPORATE
BONDS
-
60.6%
X
49,269,322
Aerospace
&
Defense
-
1.6%
$
500
Bombardier
Inc,
144A
7.500%
2/01/29
B-
$
490,021
200
Embraer
Netherlands
Finance
BV,
144A
6.950%
1/17/28
BB+
200,538
580
TransDigm
Inc,
144A
6.750%
8/15/28
Ba3
577,100
Total
Aerospace
&
Defense
1,267,659
Air
Freight
&
Logistics
-
0.3%
300
Cargo
Aircraft
Management
Inc,
144A
4.750%
2/01/28
BB
260,448
Total
Air
Freight
&
Logistics
260,448
Airlines
-
1.4%
265
American
Airlines
Inc,
144A
7.250%
2/15/28
Ba3
258,799
500
American
Airlines
Inc,
144A
11.750%
7/15/25
Ba3
548,390
350
United
Airlines
Inc,
144A
4.625%
4/15/29
Ba1
310,288
Total
Airlines
1,117,477
Auto
Components
-
1.3%
500
Dana
Inc
4.500%
2/15/32
BB+
398,515
250
Goodyear
Tire
&
Rubber
Co/The
(3)
5.250%
7/15/31
BB-
212,812
500
IHO
Verwaltungs
GmbH,
144A
(cash
4.750%,
PIK
5.500%)
4.750%
9/15/26
Ba2
460,886
Total
Auto
Components
1,072,213
Automobiles
-
1.2%
230
Ford
Motor
Credit
Co
LLC
7.350%
3/06/30
BB+
232,912
750
Ford
Motor
Credit
Co
LLC
(SOFR
reference
rate
+
2.950%
spread)
(4)
7.250%
3/06/26
BB+
758,658
Total
Automobiles
991,570
Beverages
-
0.5%
500
Primo
Water
Holdings
Inc,
144A
4.375%
4/30/29
B1
428,240
Total
Beverages
428,240
Capital
Markets
-
1.6%
200
AG
TTMT
Escrow
Issuer
LLC,
144A
8.625%
9/30/27
B2
202,463
250
Compass
Group
Diversified
Holdings
LLC,
144A
5.250%
4/15/29
B+
217,908
500
Icahn
Enterprises
LP
/
Icahn
Enterprises
Finance
Corp
5.250%
5/15/27
BB
462,524
500
NFP
Corp,
144A
6.875%
8/15/28
CCC+
425,800
Total
Capital
Markets
1,308,695
Chemicals
-
3.9%
300
ASP
Unifrax
Holdings
Inc,
144A
5.250%
9/30/28
BB
232,715
240
Avient
Corp,
144A
7.125%
8/01/30
BB-
240,600
250
Braskem
Idesa
SAPI,
144A
(3)
6.990%
2/20/32
BB-
174,050
250
EverArc
Escrow
Sarl,
144A
5.000%
10/30/29
B+
198,890
210
INEOS
Finance
PLC,
144A
(3)
6.750%
5/15/28
BBB-
205,035
500
Olympus
Water
US
Holding
Corp,
144A
4.250%
10/01/28
B2
417,332
385
Star
Energy
Geothermal
Wayang
Windu
Ltd,
144A
6.750%
4/24/33
Ba3
372,155
750
Trinseo
Materials
Operating
SCA
/
Trinseo
Materials
Finance
Inc,
144A
5.375%
9/01/25
B2
655,667
200
Tronox
Inc,
144A
4.625%
3/15/29
BB-
163,000
475
WR
Grace
Holdings
LLC,
144A
7.375%
3/01/31
BB+
471,547
Total
Chemicals
3,130,991
Nuveen
Credit
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Commercial
Services
&
Supplies
-
1.3%
$
500
Allied
Universal
Holdco
LLC/Allied
Universal
Finance
Corp/Atlas
Luxco
4
Sarl,
144A
4.625%
6/01/28
B
$
415,825
500
Garda
World
Security
Corp,
144A
4.625%
2/15/27
BB+
442,833
250
Prime
Security
Services
Borrower
LLC
/
Prime
Finance
Inc,
144A
6.250%
1/15/28
B-
231,900
Total
Commercial
Services
&
Supplies
1,090,558
Communications
Equipment
-
0.8%
250
Commscope
Inc,
144A
6.000%
3/01/26
B1
240,891
400
CommScope
Technologies
LLC,
144A
6.000%
6/15/25
CCC+
383,347
Total
Communications
Equipment
624,238
Construction
Materials
-
0.2%
200
Volcan
Cia
Minera
SAA,
144A
4.375%
2/11/26
BB
159,250
Total
Construction
Materials
159,250
Consumer
Finance
-
0.6%
535
Navient
Corp
5.500%
3/15/29
Ba3
452,696
Total
Consumer
Finance
452,696
Containers
&
Packaging
-
0.8%
300
LABL
Inc,
144A
5.875%
11/01/28
B2
259,875
355
Mauser
Packaging
Solutions
Holding
Co,
144A
7.875%
8/15/26
B
357,219
Total
Containers
&
Packaging
617,094
Diversified
Financial
Services
-
0.0%
1
Putnam
RE
PTE
Ltd,
144A
(5),(6)
10.243%
6/07/24
N/R
–
Total
Diversified
Financial
Services
–
Diversified
Telecommunication
Services
-
2.5%
350
Altice
France
SA/France,
144A
8.125%
2/01/27
B
327,250
425
Cablevision
Lightpath
LLC,
144A
3.875%
9/15/27
B1
346,443
500
Frontier
Communications
Holdings
LLC
5.875%
11/01/29
CCC+
400,370
500
Frontier
Communications
Holdings
LLC,
144A
(3)
6.000%
1/15/30
BB-
399,375
385
Iliad
Holding
SASU,
144A
6.500%
10/15/26
BB-
359,852
200
Virgin
Media
Finance
PLC,
144A
5.000%
7/15/30
B
163,000
Total
Diversified
Telecommunication
Services
1,996,290
Electric
Utilities
-
0.2%
175
Edison
International
5.375%
9/15/71
BB+
159,308
Total
Electric
Utilities
159,308
Electrical
Equipment
-
0.3%
275
Regal
Rexnord
Corp,
144A
6.300%
2/15/30
Baa3
269,055
Total
Electrical
Equipment
269,055
Electronic
Equipment,
Instruments
&
Components
-
0.5%
500
Imola
Merger
Corp,
144A
4.750%
5/15/29
BB+
425,260
Total
Electronic
Equipment,
Instruments
&
Components
425,260
Energy
Equipment
&
Services
-
1.1%
250
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp,
144A
6.250%
4/01/28
B+
237,320
300
Transocean
Inc,
144A
11.500%
1/30/27
CCC+
308,250
300
Transocean
Titan
Financing
Ltd,
144A
8.375%
2/01/28
B2
306,210
Total
Energy
Equipment
&
Services
851,780
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Entertainment
-
0.0%
$
250
Diamond
Sports
Group
LLC
/
Diamond
Sports
Finance
Co,
144A
5.375%
8/15/26
Caa2
$
28,050
Total
Entertainment
28,050
Equity
Real
Estate
Investment
Trusts
(REITs)
-
0.5%
300
MPT
Operating
Partnership
LP
/
MPT
Finance
Corp
(3)
5.000%
10/15/27
BBB-
246,148
190
Uniti
Group
LP
/
Uniti
Group
Finance
Inc
/
CSL
Capital
LLC,
144A
10.500%
2/15/28
BB+
190,038
Total
Equity
Real
Estate
Investment
Trusts
(REITs)
436,186
Food
&
Staples
Retailing
-
1.0%
350
Albertsons
Cos
Inc
/
Safeway
Inc
/
New
Albertsons
LP
/
Albertsons
LLC,
144A
6.500%
2/15/28
BB
348,022
500
Albertsons
Cos
Inc
/
Safeway
Inc
/
New
Albertsons
LP
/
Albertsons
LLC,
144A
5.875%
2/15/28
BB
483,955
Total
Food
&
Staples
Retailing
831,977
Gas
Utilities
-
0.8%
500
Ferrellgas
LP
/
Ferrellgas
Finance
Corp,
144A
5.375%
4/01/26
B
450,118
250
Ferrellgas
LP
/
Ferrellgas
Finance
Corp,
144A
5.875%
4/01/29
B
204,062
Total
Gas
Utilities
654,180
Health
Care
Providers
&
Services
-
2.9%
300
AdaptHealth
LLC,
144A
5.125%
3/01/30
B1
259,500
500
CHS/Community
Health
Systems
Inc,
144A
5.250%
5/15/30
BB-
400,060
500
CHS/Community
Health
Systems
Inc,
144A
4.750%
2/15/31
BB-
386,250
500
DaVita
Inc,
144A
4.625%
6/01/30
B+
412,085
500
Pediatrix
Medical
Group
Inc,
144A
(3)
5.375%
2/15/30
BB-
441,092
500
Tenet
Healthcare
Corp
(3)
6.125%
10/01/28
B+
462,500
Total
Health
Care
Providers
&
Services
2,361,487
Hotels,
Restaurants
&
Leisure
-
5.2%
500
Arcos
Dorados
BV,
144A
6.125%
5/27/29
BB+
477,250
485
Caesars
Entertainment
Inc,
144A
7.000%
2/15/30
Ba3
488,637
700
Carnival
Corp,
144A
10.500%
2/01/26
BB-
724,484
300
CDI
Escrow
Issuer
Inc,
144A
5.750%
4/01/30
B+
278,625
250
Churchill
Downs
Inc,
144A
4.750%
1/15/28
B+
227,567
500
Cinemark
USA
Inc,
144A
5.875%
3/15/26
B3
457,775
400
Fortune
Star
BVI
Ltd
,
Reg
S
6.750%
7/02/23
BB-
390,960
200
Hilton
Grand
Vacations
Borrower
Escrow
LLC
/
Hilton
Grand
Vacations
Borrower
Esc,
144A
5.000%
6/01/29
BB-
175,529
250
Life
Time
Inc,
144A
5.750%
1/15/26
B+
239,513
300
NCL
Corp
Ltd,
144A
5.875%
3/15/26
B-
259,500
345
NCL
Corp
Ltd,
144A
8.375%
2/01/28
BB-
350,511
150
Royal
Caribbean
Cruises
Ltd,
144A
7.250%
1/15/30
B+
150,375
Total
Hotels,
Restaurants
&
Leisure
4,220,726
Household
Durables
-
0.5%
500
Newell
Brands
Inc
5.750%
4/01/46
BBB-
401,595
Total
Household
Durables
401,595
Independent
Power
And
Renewable
Electricity
Producers
-
0.3%
300
Vistra
Operations
Co
LLC,
144A
3.700%
1/30/27
BBB-
274,684
Total
Independent
Power
And
Renewable
Electricity
Producers
274,684
Nuveen
Credit
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Independent
Power
Producers
&
Energy
Traders
-
0.8%
$
300
Azure
Power
Solar
Energy
Pvt
Ltd,
144A
5.650%
12/24/24
Ba2
$
255,090
250
Clearway
Energy
Operating
LLC,
144A
4.750%
3/15/28
BB
229,425
300
EnfraGen
Energia
Sur
SA
/
EnfraGen
Spain
SA
/
Prime
Energia
SpA,
144A
5.375%
12/30/30
BBB-
191,793
Total
Independent
Power
Producers
&
Energy
Traders
676,308
Insurance
-
1.8%
400
Acrisure
LLC
/
Acrisure
Finance
Inc,
144A
7.000%
11/15/25
CCC+
373,810
870
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-
Issuer,
144A
6.750%
4/15/28
B2
850,869
250
BroadStreet
Partners
Inc,
144A
5.875%
4/15/29
CCC+
215,228
Total
Insurance
1,439,907
IT
Services
-
1.1%
350
Ahead
DB
Holdings
LLC,
144A
6.625%
5/01/28
CCC+
295,625
500
MPH
Acquisition
Holdings
LLC,
144A
5.500%
9/01/28
Ba3
378,825
250
Presidio
Holdings
Inc,
144A
8.250%
2/01/28
CCC+
237,611
Total
IT
Services
912,061
Life
Sciences
Tools
&
Services
-
0.5%
500
Avantor
Funding
Inc,
144A
3.875%
11/01/29
BB
432,500
Total
Life
Sciences
Tools
&
Services
432,500
Machinery
-
1.0%
305
Chart
Industries
Inc,
144A
9.500%
1/01/31
B
318,725
500
WASH
Multifamily
Acquisition
Inc,
144A
5.750%
4/15/26
B-
465,115
Total
Machinery
783,840
Media
-
6.0%
500
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
6.375%
9/01/29
BB+
466,168
500
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
5.000%
2/01/28
BB+
453,125
750
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
7.375%
3/03/31
BB+
727,579
300
CSC
Holdings
LLC,
144A
4.125%
12/01/30
B+
216,804
375
CSC
Holdings
LLC
5.250%
6/01/24
B-
363,322
500
Directv
Financing
LLC
/
Directv
Financing
Co-Obligor
Inc,
144A
5.875%
8/15/27
BBB-
447,009
700
DISH
Network
Corp,
144A
11.750%
11/15/27
Ba3
709,258
300
iHeartCommunications
Inc,
144A
5.250%
8/15/27
BB-
261,066
225
LCPR
Senior
Secured
Financing
DAC,
144A
5.125%
7/15/29
BB+
190,223
250
UPC
Holding
BV,
144A
5.500%
1/15/28
B
221,250
200
Virgin
Media
Secured
Finance
PLC,
144A
5.500%
5/15/29
BB+
181,232
750
VZ
Secured
Financing
BV,
144A
5.000%
1/15/32
BB
616,891
Total
Media
4,853,927
Metals
&
Mining
-
1.6%
280
FMG
Resources
August
2006
Pty
Ltd,
144A
5.875%
4/15/30
BB+
263,639
265
Mineral
Resources
Ltd,
144A
8.000%
11/01/27
BB
263,675
345
Mineral
Resources
Ltd,
144A
8.500%
5/01/30
BB
345,418
520
SunCoke
Energy
Inc,
144A
4.875%
6/30/29
BB
441,487
Total
Metals
&
Mining
1,314,219
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
0.3%
300
Blackstone
Mortgage
Trust
Inc,
144A
3.750%
1/15/27
Ba2
255,021
Total
Mortgage
Real
Estate
Investment
Trusts
(REITs)
255,021
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Multiline
Retail
-
0.6%
$
500
JSM
Global
Sarl,
144A
(5)
4.750%
10/20/30
C
$
89,350
600
Kohl's
Corp
3.625%
5/01/31
BBB-
421,860
Total
Multiline
Retail
511,210
Oil,
Gas
&
Consumable
Fuels
-
7.2%
300
Antero
Midstream
Partners
LP
/
Antero
Midstream
Finance
Corp,
144A
5.375%
6/15/29
BB
270,000
285
Callon
Petroleum
Co,
144A
7.500%
6/15/30
B+
267,646
415
Calumet
Specialty
Products
Partners
LP
/
Calumet
Finance
Corp,
144A
(3)
8.125%
1/15/27
B-
405,887
380
CNX
Midstream
Partners
LP,
144A
4.750%
4/15/30
BB
311,537
490
Crestwood
Midstream
Partners
LP
/
Crestwood
Midstream
Finance
Corp,
144A
5.625%
5/01/27
BB
453,250
400
Ecopetrol
SA
8.875%
1/13/33
Baa3
392,004
350
Energean
Israel
Finance
Ltd,
144A
5.375%
3/30/28
BB-
314,352
500
EQM
Midstream
Partners
LP
6.500%
7/15/48
BB
372,440
315
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp
8.875%
4/15/30
B
316,547
250
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp
8.000%
1/15/27
B
244,503
200
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co,
144A
5.750%
2/01/29
BB+
181,000
175
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co,
144A
6.000%
2/01/31
BB+
157,010
300
KazMunayGas
National
Co
JSC,
144A
5.375%
4/24/30
Baa2
270,324
250
Medco
Laurel
Tree
Pte
Ltd,
144A
6.950%
11/12/28
B+
227,298
350
NGL
Energy
Operating
LLC
/
NGL
Energy
Finance
Corp,
144A
7.500%
2/01/26
B
334,221
200
Occidental
Petroleum
Corp
6.200%
3/15/40
BB+
195,000
370
Parkland
Corp/Canada,
144A
4.625%
5/01/30
BB
308,025
300
Peru
LNG
Srl,
144A
5.375%
3/22/30
B+
240,819
300
Petroleos
Mexicanos,
144A
(3)
10.000%
2/07/33
BBB
289,020
300
USA
Compression
Partners
LP
/
USA
Compression
Finance
Corp
6.875%
9/01/27
BB-
284,052
Total
Oil,
Gas
&
Consumable
Fuels
5,834,935
Personal
Products
-
0.8%
200
Coty
Inc/HFC
Prestige
Products
Inc/HFC
Prestige
International
US
LLC,
144A
4.750%
1/15/29
BB
180,071
500
Kronos
Acquisition
Holdings
Inc
/
KIK
Custom
Products
Inc,
144A
(3)
7.000%
12/31/27
CCC
428,750
Total
Personal
Products
608,821
Pharmaceuticals
-
0.3%
400
Bausch
Health
Cos
Inc,
144A
4.875%
6/01/28
B
249,502
Total
Pharmaceuticals
249,502
Professional
Services
-
0.9%
250
ASGN
Inc,
144A
4.625%
5/15/28
BB-
225,933
500
Verscend
Escrow
Corp,
144A
9.750%
8/15/26
CCC+
501,875
Total
Professional
Services
727,808
Real
Estate
Management
&
Development
-
0.6%
300
Kennedy-Wilson
Inc
5.000%
3/01/31
BB-
229,546
400
Realogy
Group
LLC
/
Realogy
Co-Issuer
Corp,
144A
(3)
5.250%
4/15/30
B+
274,000
Total
Real
Estate
Management
&
Development
503,546
Road
&
Rail
-
0.3%
200
Transnet
SOC
Ltd,
144A
(3)
8.250%
2/06/28
BB-
200,448
Total
Road
&
Rail
200,448
Nuveen
Credit
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Software
-
0.9%
$
500
Gen
Digital
Inc,
144A
6.750%
9/30/27
BB+
$
491,474
325
Rocket
Software
Inc,
144A
(3)
6.500%
2/15/29
CCC
265,927
Total
Software
757,401
Specialty
Retail
-
1.7%
40
Academy
Ltd,
144A
6.000%
11/15/27
BB
37,800
250
LCM
Investments
Holdings
II
LLC,
144A
4.875%
5/01/29
BB-
203,198
650
Michaels
Cos
Inc/The,
144A
7.875%
5/01/29
Caa1
489,125
500
Staples
Inc,
144A
7.500%
4/15/26
B
445,000
300
Staples
Inc,
144A
(3)
10.750%
4/15/27
CCC+
229,740
Total
Specialty
Retail
1,404,863
Textiles
-
0.3%
270
Hanesbrands
Inc,
144A
(3)
9.000%
2/15/31
BB-
273,010
Total
Textiles
273,010
Thrifts
&
Mortgage
Finance
-
0.5%
500
Rocket
Mortgage
LLC
/
Quicken
Loans
Co-Issuer
Inc,
144A
3.625%
3/01/29
Ba1
401,907
Total
Thrifts
&
Mortgage
Finance
401,907
Trading
Companies
&
Distributors
-
1.3%
445
Albion
Financing
1
SARL
/
Aggreko
Holdings
Inc,
144A
6.125%
10/15/26
BB+
397,928
250
Albion
Financing
2SARL,
144A
8.750%
4/15/27
BB-
215,625
450
Ashtead
Capital
Inc,
144A
5.550%
5/30/33
BBB
431,205
Total
Trading
Companies
&
Distributors
1,044,758
Wireless
Telecommunication
Services
-
0.8%
250
CT
Trust,
144A
5.125%
2/03/32
Ba1
197,500
200
Liberty
Costa
Rica
Senior
Secured
Finance,
144A
10.875%
1/15/31
B+
188,773
300
Sitios
Latinoamerica
SAB
de
CV,
144A
5.375%
4/04/32
Baa3
265,350
Total
Wireless
Telecommunication
Services
651,623
Total
Corporate
Bonds
(cost
$52,639,146)
49,269,322
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
18,045,604.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
-
22.2%
X
18,045,604
450
Adams
Outdoor
Advertising
LP
,
144A
2018
1
7.356%
11/15/48
BB
$
401,074
750
Affirm
Asset
Securitization
Trust
2021-B
,
144A
2021
B
2.540%
8/17/26
N/R
663,724
1,000
Ashford
Hospitality
Trust
2018-KEYS
,
144A
(1-Month
LIBOR
reference
rate
+
2.750%
spread)
2018
KEYS
(4)
2.860%
6/15/35
Baa3
955,123
2
Carvana
Auto
Receivables
Trust
2021-P2
,
144A
2021
P2
0.000%
5/10/28
N/R
806,250
1,000
COMM
2014-UBS3
Mortgage
Trust
,
144A
2014
UBS3
4.767%
6/10/47
N/R
717,731
900
COMM
2015-CCRE22
Mortgage
Trust
,
144A
2015
CR22
3.000%
3/10/48
BB-
706,049
485
COMM
2015-CCRE25
Mortgage
Trust
2015
CR25
3.768%
8/10/48
BB
387,190
1,000
Connecticut
Avenue
Securities
Trust
2021-R01
,
144A
(SOFR30A
reference
rate
+
6.000%
spread)
2021
R01
(4)
10.484%
10/25/41
N/R
919,278
850
Connecticut
Avenue
Securities
Trust
2022-R01
,
144A
(SOFR30A
reference
rate
+
6.000%
spread)
2022
R01
(4)
10.484%
12/25/41
N/R
761,339
1,000
Connecticut
Avenue
Securities
Trust
2022-R05
,
144A
(SOFR30A
reference
rate
+
4.500%
spread)
2022
R05
(4)
6.014%
4/25/42
Ba2
987,676
500
Connecticut
Avenue
Securities
Trust
2022-R09
,
144A
(SOFR30A
reference
rate
+
4.750%
spread)
2022
R09
(4)
9.242%
9/25/42
Baa3
526,939
500
Elmwood
CLO
16
Ltd
,
144A
(TSFR3M
reference
rate
+
7.220%
spread)
2022
3A
(4)
11.859%
4/20/34
BB-
489,248
438
FARM
21-1
Mortgage
Trust
,
144A
2021
1
3.239%
7/25/51
N/R
269,888
1,000
Freddie
Mac
STACR
REMIC
Trust
2021-DNA6
,
144A
(SOFR30A
reference
rate
+
7.500%
spread)
2021
DNA6
(4)
11.984%
10/25/41
N/R
924,176
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X18,045,604.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
(continued)
$
1,000
Freddie
Mac
STACR
REMIC
Trust
2022-DNA1
,
144A
(SOFR30A
reference
rate
+
7.100%
spread)
2022
DNA1
(4)
11.584%
1/25/42
N/R
$
895,832
500
GoldentTree
Loan
Management
US
CLO
1
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
7.500%
spread)
2021
11A
(4)
8.563%
10/20/34
B-
408,250
800
JPMBB
Commercial
Mortgage
Securities
Trust
2014-C22
2014
C22
4.547%
9/15/47
BBB
704,831
1,320
Mosaic
Solar
Loan
Trust
2019-2
,
144A
2019
2A
0.000%
9/20/40
N/R
560,454
1,538
Mosaic
Solar
Loan
Trust
2020-1
,
144A
2020
1A
0.000%
4/20/46
N/R
1,089,353
500
Oportun
Funding
XIV
LLC
,
144A
2021
A
5.400%
3/08/28
N/R
454,025
1,000
Palmer
Square
CLO
2023-1
Ltd
,
144A
(TSFR3M
reference
rate
+
5.300%
spread)
2023
1A
,
(WI/DD)(4)
0.000%
1/20/36
N/R
1,003,581
250
Purchasing
Power
Funding
2021-A
LLC
,
144A
2021
A
4.370%
10/15/25
N/R
237,295
1,000
Sixth
Street
CLO
XIX
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
5.900%
spread)
2021
19A
(4)
6.035%
7/20/34
BB-
930,889
750
Thayer
Park
CLO
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
8.870%
spread)
2017
1A
(4)
1.000%
4/20/34
B-
632,023
1,000
VNDO
Trust
2016-350P
,
144A
2016
350P
3.903%
1/10/35
B
777,235
957
VR
Funding
LLC
,
144A
2020
1A
6.420%
11/15/50
N/R
836,151
Total
Asset-Backed
and
Mortgage-Backed
Securities
(cost
$20,367,555)
18,045,604
Principal
Amount
(000)
Description
(1)
Coupon
(7)
Reference
Rate
(7)
Spread
(7)
Maturity
(8)
Ratings
(2)
Value
X
8,340,049
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
10.3%
(7)
X
8,340,049
Beverages
-
0.3%
$
494
City
Brewing
Company,
LLC,
Term
Loan
8.330%
3-Month
LIBOR
3.500%
4/05/28
CCC
$
244,199
Total
Beverages
244,199
Chemicals
-
0.5%
280
Herens
US
Holdco
Corp,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
B2
265,950
176
Lonza
Group
AG,
Term
Loan
B,
First
Lien
8.730%
3-Month
LIBOR
4.000%
7/03/28
N/R
167,705
Total
Chemicals
433,655
Commercial
Services
&
Supplies
-
0.8%
216
Gopher
Resource,
LLC,
Term
Loan,
First
Lien
7.885%
1-Month
LIBOR
3.250%
1/28/25
CCC+
164,121
497
Prime
Security
Services
Borrower,
LLC,
Term
Loan
7.517%
3-Month
LIBOR
2.750%
9/23/26
BB-
497,197
Total
Commercial
Services
&
Supplies
661,318
Communications
Equipment
-
0.6%
500
EOS
Finco
Sarl,
Term
Loan
10.604%
SOFR90A
6.000%
8/03/29
B
496,250
Total
Communications
Equipment
496,250
Construction
&
Engineering
-
0.6%
494
Aegion
Corporation,
Term
Loan
9.385%
1-Month
LIBOR
4.750%
5/17/28
B
482,334
Total
Construction
&
Engineering
482,334
Diversified
Consumer
Services
-
0.1%
196
TMK
Hawk
Parent
Corp.,
Term
Loan
B
8.261%
1-Month
LIBOR
3.500%
8/30/24
CC
110,700
Total
Diversified
Consumer
Services
110,700
Nuveen
Credit
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(7)
Reference
Rate
(7)
Spread
(7)
Maturity
(8)
Ratings
(2)
Value
Entertainment
-
0.1%
$
36
Diamond
Sports
Group,
LLC,
Term
Loan
12.775%
SOFR90A
8.150%
5/19/26
B2
$
33,962
Total
Entertainment
33,962
Health
Care
Equipment
&
Supplies
-
0.9%
497
Bausch
&
Lomb,
Inc.,
Term
Loan
7.842%
SOFR90A
3.250%
5/05/27
BB-
487,729
250
Medline
Borrower,
LP,
Term
Loan
B,
(WI/DD)
TBD
TBD
TBD
TBD
BB-
241,440
Total
Health
Care
Equipment
&
Supplies
729,169
Health
Care
Providers
&
Services
-
0.6%
1
Da
Vinci
Purchaser
Corp.,
Term
Loan
8.953%
1
Month
LIBOR
4.000%
11/26/26
B
849
2
Onex
TSG
Intermediate
Corp.,
Term
Loan
B
9.688%
3-Month
LIBOR
4.750%
2/26/28
B
2,208
498
Parexel
International
Corporation,
Term
Loan,
First
Lien
7.867%
1-Month
LIBOR
3.250%
11/15/28
B1
487,917
Total
Health
Care
Providers
&
Services
490,974
Hotels,
Restaurants
&
Leisure
-
1.1%
186
Caesars
Resort
Collection,
LLC,
Term
Loan
B,
First
Lien,
(WI/DD)
TBD
TBD
TBD
TBD
BB-
186,149
486
ClubCorp
Holdings,
Inc.,
Term
Loan
B
7.480%
3-Month
LIBOR
2.750%
9/18/24
B2
458,129
241
Life
Time
Fitness
Inc
,
Term
Loan
B
9.385%
1-Month
LIBOR
4.750%
12/15/24
B+
240,835
Total
Hotels,
Restaurants
&
Leisure
885,113
Insurance
-
0.8%
750
Asurion
LLC,
Term
Loan
B3,
Second
Lien
9.885%
1-Month
LIBOR
5.250%
2/03/28
B
642,375
Total
Insurance
642,375
Oil,
Gas
&
Consumable
Fuels
-
0.2%
165
M6
ETX
Holdings
II
Midco
LLC,
Term
Loan
B
9.158%
SOFR90A
4.500%
8/11/29
BB
164,141
Total
Oil,
Gas
&
Consumable
Fuels
164,141
Pharmaceuticals
-
0.6%
443
Jazz
Financing
Lux
S.a.r.l.,
Term
Loan
8.135%
1-Month
LIBOR
3.500%
5/05/28
BB+
442,800
Total
Pharmaceuticals
442,800
Real
Estate
Management
&
Development
-
0.6%
264
Cushman
&
Wakefield
U.S.
Borrower,
LLC,
Term
Loan
7.968%
TSFR1M
3.250%
1/31/30
BB
262,789
209
Cushman
&
Wakefield
U.S.
Borrower,
LLC,
Term
Loan
B
7.385%
1-Month
LIBOR
2.750%
8/21/25
BB
208,377
Total
Real
Estate
Management
&
Development
471,166
Principal
Amount
(000)
Description
(1)
Coupon
(7)
Reference
Rate
(7)
Spread
(7)
Maturity
(8)
Ratings
(2)
Value
Software
-
1.5%
$
494
Ceridian
HCM
Holding
Inc.,
Term
Loan
B
7.135%
1-Month
LIBOR
2.500%
4/30/25
B+
$
493,257
494
Greeneden
U.S.
Holdings
II,
LLC,
Term
Loan
B4
8.635%
1-Month
LIBOR
4.000%
12/01/27
B2
491,014
250
Open
Text
Corp,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
BBB-
249,981
Total
Software
1,234,252
Specialty
Retail
-
0.5%
419
PetSmart,
Inc.,
Term
Loan
B
8.468%
TSFR1M
3.750%
2/12/28
BB
418,058
Total
Specialty
Retail
418,058
Transportation
Infrastructure
-
0.5%
399
Brown
Group
Holding,
LLC,
Term
Loan
B2
8.397%
SOFR30A
+
SOFR90A
3.750%
6/09/29
B+
399,583
Total
Transportation
Infrastructure
399,583
Total
Variable
Rate
Senior
Loan
Interests
(cost
$8,704,889)
8,340,049
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
2,454,898
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
3.0%
X
2,454,898
Automobiles
-
0.3%
$
270
General
Motors
Financial
Co
Inc
5.700%
N/A
(9)
BB+
$
243,896
Total
Automobiles
243,896
Banks
-
0.3%
300
Banco
Nacional
de
Comercio
Exterior
SNC/Cayman
Islands,
144A
2.720%
8/11/31
Ba1
251,651
Total
Banks
251,651
Consumer
Finance
-
0.6%
500
Ally
Financial
Inc
6.700%
2/14/33
Baa3
475,078
Total
Consumer
Finance
475,078
Independent
Power
Producers
&
Energy
Traders
-
0.3%
275
Vistra
Corp,
144A
7.000%
N/A
(9)
Ba3
257,216
Total
Independent
Power
Producers
&
Energy
Traders
257,216
Insurance
-
0.6%
200
Assurant
Inc
7.000%
3/27/48
Baa3
198,167
370
Enstar
Finance
LLC
5.750%
9/01/40
BBB-
329,781
Total
Insurance
527,948
Media
-
0.3%
280
Paramount
Global
6.375%
3/30/62
Baa3
241,248
Total
Media
241,248
Oil,
Gas
&
Consumable
Fuels
-
0.3%
235
Energy
Transfer
LP
6.500%
N/A
(9)
BB
216,604
Total
Oil,
Gas
&
Consumable
Fuels
216,604
Trading
Companies
&
Distributors
-
0.3%
250
AerCap
Global
Aviation
Trust,
144A
6.500%
6/15/45
Baa3
241,257
Total
Trading
Companies
&
Distributors
241,257
Total
$1,000
Par
(or
similar)
Institutional
Preferred
(cost
$2,529,410)
2,454,898
Nuveen
Credit
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
1,798,482
SOVEREIGN
DEBT
-
2.2%
X
1,798,482
Angola
-
0.4%
$
400
Angolan
Government
International
Bond
,
144A
8.750%
4/14/32
B-
$
359,060
Total
Angola
359,060
Colombia
-
0.2%
200
Colombia
Government
International
Bond
7.500%
2/02/34
Baa2
189,200
Total
Colombia
189,200
Dominican
Republic
-
0.2%
200
Dominican
Republic
International
Bond
,
144A
4.875%
9/23/32
BB
167,166
Total
Dominican
Republic
167,166
Ecuador
-
0.2%
400
Ecuador
Government
International
Bond
,
Reg
S
2.500%
7/31/35
N/R
141,425
Total
Ecuador
141,425
Hungary
-
0.5%
380
Hungary
Government
International
Bond
,
144A
6.125%
5/22/28
Baa2
385,761
Total
Hungary
385,761
Jordan
-
0.4%
300
Jordan
Government
International
Bond
,
144A
7.750%
1/15/28
BB-
307,560
Total
Jordan
307,560
Senegal
-
0.3%
300
Senegal
Government
International
Bond
,
144A
6.250%
5/23/33
Ba3
248,310
Total
Senegal
248,310
Total
Sovereign
Debt
(cost
$1,903,079)
1,798,482
Principal
Amount
(000)
Description
(1)
,(10)
Coupon
Maturity
Ratings
(2)
Value
X
993,506
CONTINGENT
CAPITAL
SECURITIES
-
1.2%
X
993,506
Banks
-
0.8%
$
200
Banco
Bilbao
Vizcaya
Argentaria
SA
6.500%
N/A
(9)
Ba2
$
190,000
300
ING
Groep
NV
6.500%
N/A
(9)
BBB
287,280
200
Societe
Generale
SA,
144A
8.000%
N/A
(9)
BB
198,996
Total
Banks
676,276
Capital
Markets
-
0.4%
350
Deutsche
Bank
AG
(3)
6.000%
N/A
(9)
Ba2
317,230
Total
Capital
Markets
317,230
Total
Contingent
Capital
Securities
(cost
$985,007)
993,506
Shares
Description
(1)
Coupon
Ratings
(2)
Value
X
473,076
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
0.6%
X
473,076
Oil,
Gas
&
Consumable
Fuels
-
0.3%
9,660
NuStar
Energy
LP
11.502%
B2
$
244,494
Total
Oil,
Gas
&
Consumable
Fuels
244,494
Trading
Companies
&
Distributors
-
0.3%
8,261
WESCO
International
Inc
10.625%
B+
228,582
Total
Trading
Companies
&
Distributors
228,582
Total
$25
Par
(or
similar)
Retail
Preferred
(cost
$431,547)
473,076
Shares
Description
(1)
Value
X
1,914
COMMON
STOCKS
-
0.0%
X
1,914
Road
&
Rail
-
0.0%
8,907
Jack
Cooper
Enterprises
Inc
(6),(11)
$
89
Total
Road
&
Rail
89
Semiconductors
&
Semiconductor
Equipment
-
0.0%
130
Bright
Bidco
BV
(6),(11)
1,825
Total
Semiconductors
&
Semiconductor
Equipment
1,825
Total
Common
Stocks
(cost
$–)
1,914
Total
Long-Term
Investments
(cost
$87,560,633)
81,376,851
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
5.6
%
4,600,887
MONEY
MARKET
FUNDS
-
5.6%
X
4,600,887
4,600,887
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(12)
4.600%(13)
$
4,600,887
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$4,600,887)
4,600,887
Total
Investments
(cost
$
92,161,520
)
-
105
.7
%
$
85,977,738
Other
Assets
&
Liabilities,
Net
- (5.7)%
(
4,665,895
)
Net
Assets
-
100%
$
81,311,843
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.
(2)
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.
(3)
Investment,
or
a
portion
of
investment,
is
out
on
loan
for
securities
lending.
The
total
value
of
the
securities
out
on
loan
as
of
the
end
of
the
reporting
period
was
$4,424,801.
(4)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(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
3.
(7)
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.
(8)
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.
(9)
Perpetual
security.
Maturity
date
is
not
applicable.
(10)
Contingent
Capital
Securities
(“CoCos”)
are
hybrid
securities
with
loss
absorption
characteristics
built
into
the
terms
of
the
security
for
the
benefit
of
the
issuer.
For
example,
the
terms
may
specify
an
automatic
write-down
of
principal
or
a
mandatory
conversion
into
the
issuer’s
common
stock
under
certain
adverse
circumstances,
such
as
the
issuer’s
capital
ratio
falling
below
a
specified
level.
(11)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(12)
The
Fund
may
loan
securities
representing
up
to
one
third
of
the
market
value
of
its
total
assets
(which
includes
collateral
for
securities
on
loan)
to
broker
dealers,
banks,
and
other
institutions.
The
collateral
maintained
by
the
Fund
shall
have
a
market
value,
at
the
inception
of
each
loan,
equal
to
not
less
than
100%
of
the
market
value
of
the
loaned
securities.
The
cash
collateral
received
by
the
Fund
is
invested
in
this
money
market
fund.
(13)
The
rate
shown
is
the
one-day
yield
as
of
the
end
of
the
reporting
period.
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.
LIBOR
London
Inter-Bank
Offered
Rate
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.
Nuveen
Credit
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
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.
SOFR
30A
30
Day
Average
Secured
Overnight
Financing
Rate
SOFR
90A
90
Day
Average
Secured
Overnight
Financing
Rate
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.
TSFR
1M
CME
Term
SOFR
1
Month
TSFR
3M
CME
Term
SOFR
3
Month
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
Nuveen
Flexible
Income
Fund
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
LONG-TERM
INVESTMENTS
-
96.5%
X
612,681,832
CORPORATE
BONDS
-
46.2%
X
612,681,832
Auto
Components
-
0.2%
$
2,000
Dana
Financing
Luxembourg
Sarl,
144A
5.750%
4/15/25
BB+
$
1,950,395
Total
Auto
Components
1,950,395
Automobiles
-
2.3%
10,250
Ford
Motor
Co
5.291%
12/08/46
BB+
8,020,625
4,165
Ford
Motor
Credit
Co
LLC
7.350%
11/04/27
BB+
4,219,562
18,280
General
Motors
Co
6.600%
4/01/36
BBB
18,253,201
Total
Automobiles
30,493,388
Beverages
-
1.0%
4,400
Anheuser-Busch
Cos
LLC
/
Anheuser-Busch
InBev
Worldwide
Inc
4.900%
2/01/46
BBB+
4,036,007
10,560
Anheuser-Busch
InBev
Finance
Inc
4.900%
2/01/46
BBB+
9,686,415
Total
Beverages
13,722,422
Biotechnology
-
0.5%
7,125
Amgen
Inc
4.875%
3/01/53
BBB+
6,345,917
Total
Biotechnology
6,345,917
Capital
Markets
-
0.9%
6,950
Morgan
Stanley
6.138%
10/16/26
A1
7,078,185
1,013
Morgan
Stanley
5.875%
3/15/71
BBB
1,000,388
3,990
Raymond
James
Financial
Inc
4.950%
7/15/46
A-
3,637,956
Total
Capital
Markets
11,716,529
Chemicals
-
2.7%
9,625
Ashland
LLC
6.875%
5/15/43
BB+
9,574,208
13,475
Celanese
US
Holdings
LLC
6.165%
7/15/27
BBB-
13,375,129
15,124
Trinseo
Materials
Operating
SCA
/
Trinseo
Materials
Finance
Inc,
144A
5.375%
9/01/25
B2
13,221,743
Total
Chemicals
36,171,080
Communications
Equipment
-
1.0%
14,500
Viasat
Inc,
144A
5.625%
4/15/27
BB+
13,229,800
Total
Communications
Equipment
13,229,800
Consumer
Finance
-
1.1%
6,850
Ally
Financial
Inc
8.000%
11/01/31
BBB-
7,415,037
6,789
Ally
Financial
Inc
5.750%
11/20/25
Baa3
6,645,637
Total
Consumer
Finance
14,060,674
Containers
&
Packaging
-
1.3%
15,875
Sealed
Air
Corp,
144A
6.875%
7/15/33
BB+
16,157,575
475
Sealed
Air
Corp,
144A
6.125%
2/01/28
BB+
467,851
Total
Containers
&
Packaging
16,625,426
Diversified
Telecommunication
Services
-
0.8%
12,707
GCI
LLC,
144A
4.750%
10/15/28
B
10,896,252
Total
Diversified
Telecommunication
Services
10,896,252
Nuveen
Flexible
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Electric
Utilities
-
0.6%
$
3,400
Edison
International
5.750%
6/15/27
Baa2
$
3,414,819
4,100
Vistra
Operations
Co
LLC,
144A
5.000%
7/31/27
BB+
3,808,715
Total
Electric
Utilities
7,223,534
Electrical
Equipment
-
1.0%
13,025
Regal
Rexnord
Corp,
144A
6.400%
4/15/33
Baa3
12,816,226
Total
Electrical
Equipment
12,816,226
Entertainment
-
0.9%
5,000
Liberty
Interactive
LLC
8.500%
7/15/29
BB-
2,293,750
12,325
Warnermedia
Holdings
Inc,
144A
5.141%
3/15/52
BBB-
9,661,614
Total
Entertainment
11,955,364
Equity
Real
Estate
Investment
Trusts
-
1.7%
5,396
GLP
Capital
LP
/
GLP
Financing
II
Inc
5.250%
6/01/25
BBB-
5,282,722
3,275
GLP
Capital
LP
/
GLP
Financing
II
Inc
5.375%
4/15/26
BBB-
3,193,878
8,350
Iron
Mountain
Inc,
144A
4.875%
9/15/29
BB-
7,268,550
7,175
VICI
Properties
LP
5.625%
5/15/52
BBB-
6,355,955
Total
Equity
Real
Estate
Investment
Trusts
22,101,105
Food
&
Staples
Retailing
-
1.9%
13,539
Albertsons
Cos
Inc
/
Safeway
Inc
/
New
Albertsons
LP
/
Albertsons
LLC,
144A
7.500%
3/15/26
BB
13,776,771
5,400
CVS
Health
Corp
4.300%
3/25/28
BBB
5,162,412
7,160
SEG
Holding
LLC
/
SEG
Finance
Corp,
144A
5.625%
10/15/28
BB-
6,740,418
Total
Food
&
Staples
Retailing
25,679,601
Health
Care
Providers
&
Services
-
2.4%
11,725
Centene
Corp
4.625%
12/15/29
BBB-
10,722,429
9,075
CVS
Health
Corp
4.780%
3/25/38
BBB
8,244,073
7,300
HCA
Inc
5.125%
6/15/39
BBB-
6,493,682
4,400
Tenet
Healthcare
Corp
(3)
6.125%
10/01/28
B+
4,070,000
2,860
Tenet
Healthcare
Corp
4.250%
6/01/29
BB-
2,504,502
Total
Health
Care
Providers
&
Services
32,034,686
Hotels,
Restaurants
&
Leisure
-
1.7%
5,750
International
Game
Technology
PLC,
144A
5.250%
1/15/29
BBB-
5,336,172
4,018
Marriott
International
Inc/MD
4.625%
6/15/30
BBB
3,792,322
15,075
McDonald's
Corp
4.875%
12/09/45
BBB+
13,731,544
Total
Hotels,
Restaurants
&
Leisure
22,860,038
Interactive
Media
&
Services
-
1.2%
16,415
TripAdvisor
Inc,
144A
(3)
7.000%
7/15/25
BB-
16,437,031
Total
Interactive
Media
&
Services
16,437,031
Life
Sciences
Tools
&
Services
-
0.5%
7,550
Avantor
Funding
Inc,
144A
4.625%
7/15/28
BB
6,946,000
Total
Life
Sciences
Tools
&
Services
6,946,000
Machinery
-
1.4%
8,565
ATS
Corp,
144A
4.125%
12/15/28
BB-
7,477,520
7,950
Roller
Bearing
Co
of
America
Inc,
144A
4.375%
10/15/29
B+
6,871,582
3,775
Stevens
Holding
Co
Inc,
144A
6.125%
10/01/26
BB-
3,829,442
Total
Machinery
18,178,544
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Media
-
4.7%
$
12,075
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
5.125%
5/01/27
BB+
$
11,172,635
14,500
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
6.484%
10/23/45
BBB-
13,118,842
16,824
Nexstar
Media
Inc,
144A
5.625%
7/15/27
B+
15,624,996
22,204
Paramount
Global
6.875%
4/30/36
BBB
22,049,609
Total
Media
61,966,082
Metals
&
Mining
-
1.0%
6,600
ArcelorMittal
SA
7.000%
10/15/39
BBB-
6,715,122
7,100
Southern
Copper
Corp
5.875%
4/23/45
BBB+
7,141,146
Total
Metals
&
Mining
13,856,268
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
0.6%
8,700
HAT
Holdings
I
LLC
/
HAT
Holdings
II
LLC,
144A
(3)
6.000%
4/15/25
Baa3
8,384,799
Total
Mortgage
Real
Estate
Investment
Trusts
(REITs)
8,384,799
Multiline
Retail
-
0.8%
15,319
Nordstrom
Inc
5.000%
1/15/44
BB+
9,949,675
Total
Multiline
Retail
9,949,675
Oil,
Gas
&
Consumable
Fuels
-
1.7%
4,700
Cheniere
Corpus
Christi
Holdings
LLC
5.125%
6/30/27
BBB-
4,637,043
6,865
Enviva
Partners
LP
/
Enviva
Partners
Finance
Corp,
144A
(3)
6.500%
1/15/26
BB-
6,435,663
12,904
Phillips
66
4.650%
11/15/34
A3
12,042,097
Total
Oil,
Gas
&
Consumable
Fuels
23,114,803
Real
Estate
Management
&
Development
-
0.3%
4,306
Greystar
Real
Estate
Partners
LLC,
144A
5.750%
12/01/25
BB-
4,251,582
Total
Real
Estate
Management
&
Development
4,251,582
Road
&
Rail
-
0.6%
8,279
XPO
CNW
Inc
6.700%
5/01/34
BB-
7,519,479
Total
Road
&
Rail
7,519,479
Semiconductors
&
Semiconductor
Equipment
-
1.9%
13,308
Amkor
Technology
Inc,
144A
6.625%
9/15/27
BB
13,156,422
8,525
Broadcom
Inc
4.750%
4/15/29
BBB-
8,153,895
5,320
Broadcom
Inc,
144A
3.187%
11/15/36
BBB-
3,852,370
Total
Semiconductors
&
Semiconductor
Equipment
25,162,687
Software
-
1.5%
8,734
Oracle
Corp
4.300%
7/08/34
BBB
7,668,898
4,750
Oracle
Corp
5.550%
2/06/53
BBB
4,352,575
8,475
VMware
Inc
4.700%
5/15/30
BBB
7,933,451
Total
Software
19,954,924
Specialty
Retail
-
1.8%
14,309
Bath
&
Body
Works
Inc
6.875%
11/01/35
BB
12,629,091
5,780
Gap
Inc,
144A
3.625%
10/01/29
BB
4,238,674
10,280
Gap
Inc,
144A
(3)
3.875%
10/01/31
BB
7,375,489
Total
Specialty
Retail
24,243,254
Technology
Hardware,
Storage
&
Peripherals
-
2.9%
28,844
Hewlett
Packard
Enterprise
Co
6.350%
10/15/45
BBB+
28,434,386
569
NCR
Corp,
144A
5.250%
10/01/30
BB-
470,428
4,720
Seagate
HDD
Cayman
4.091%
6/01/29
BB+
4,072,416
Nuveen
Flexible
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Technology
Hardware,
Storage
&
Peripherals
(continued)
$
6,129
Seagate
HDD
Cayman
4.875%
6/01/27
BB+
$
5,770,737
Total
Technology
Hardware,
Storage
&
Peripherals
38,747,967
Tobacco
-
0.8%
11,250
Altria
Group
Inc
5.800%
2/14/39
A3
10,367,762
Total
Tobacco
10,367,762
Trading
Companies
&
Distributors
-
2.0%
8,600
Ashtead
Capital
Inc,
144A
4.000%
5/01/28
BBB
7,861,379
2,775
Ashtead
Capital
Inc,
144A
5.500%
8/11/32
BBB
2,660,906
13,400
United
Rentals
North
America
Inc
5.250%
1/15/30
BB+
12,629,500
3,449
WESCO
Distribution
Inc,
144A
7.250%
6/15/28
BB
3,495,187
Total
Trading
Companies
&
Distributors
26,646,972
Wireless
Telecommunication
Services
-
0.5%
4,204
T-Mobile
USA
Inc
4.750%
2/01/28
BBB-
4,070,819
3,000
T-Mobile
USA
Inc
5.375%
4/15/27
BBB-
3,000,747
Total
Wireless
Telecommunication
Services
7,071,566
Total
Corporate
Bonds
(cost
$687,697,209)
612,681,832
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
337,436,959
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
25.4%
X
337,436,959
Auto
Components
-
1.8%
$
8,635
Dana
Inc
4.250%
9/01/30
BB+
$
6,975,094
19,505
Goodyear
Tire
&
Rubber
Co
(3)
5.250%
7/15/31
BB-
16,603,631
Total
Auto
Components
23,578,725
Automobiles
-
0.7%
6,763
General
Motors
Financial
Co
Inc
6.500%
N/A
(4)
BB+
6,323,405
3,613
General
Motors
Financial
Co
Inc
5.700%
N/A
(4)
BB+
3,263,686
Total
Automobiles
9,587,091
Banks
-
7.4%
8,965
Bank
of
America
Corp
6.300%
N/A
(4)
BBB+
9,021,031
11,476
Bank
of
America
Corp
(3)
6.500%
N/A
(4)
BBB+
11,412,882
3,375
Bank
of
America
Corp
6.250%
N/A
(4)
BBB+
3,375,000
23,521
Citigroup
Inc
(3)
6.250%
N/A
(4)
BBB-
23,433,737
7,725
First
Citizens
BancShares
Inc/NC
(3-Month
LIBOR
reference
rate
+
3.972%
spread)
(5)
8.741%
N/A
(4)
Ba1
7,763,625
21,550
JPMorgan
Chase
&
Co
6.750%
N/A
(4)
BBB+
21,644,281
3,000
JPMorgan
Chase
&
Co
6.100%
N/A
(4)
BBB+
2,983,125
9,994
PNC
Financial
Services
Group
Inc/The
(3)
6.200%
N/A
(4)
Baa2
9,844,090
9,100
Wells
Fargo
&
Co
5.875%
N/A
(4)
Baa2
9,027,200
Total
Banks
98,504,971
Capital
Markets
-
1.4%
9,600
Ares
Finance
Co
III
LLC,
144A
4.125%
6/30/51
BBB
7,359,425
7,075
Goldman
Sachs
Group
Inc
5.300%
N/A
(4)
BBB-
6,883,267
350
Goldman
Sachs
Group
Inc
(3)
4.950%
N/A
(4)
BBB-
332,258
4,850
Morgan
Stanley
5.948%
1/19/38
A-
4,738,828
Total
Capital
Markets
19,313,778
Consumer
Finance
-
2.0%
18,252
Ally
Financial
Inc
(3)
4.700%
N/A
(4)
Ba2
14,302,945
2,625
Ally
Financial
Inc
4.700%
N/A
(4)
Ba2
1,931,440
8,075
American
Express
Co
3.550%
N/A
(4)
Baa2
6,854,867
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Consumer
Finance
(continued)
$
4,035
Capital
One
Financial
Corp
(3)
3.950%
N/A
(4)
Baa3
$
3,405,137
Total
Consumer
Finance
26,494,389
Electric
Utilities
-
3.6%
13,450
Edison
International
5.000%
N/A
(4)
BB+
11,582,737
22,945
Emera
Inc
6.750%
6/15/76
BB+
22,014,994
15,390
NextEra
Energy
Capital
Holdings
Inc
5.650%
5/01/79
BBB
14,235,750
Total
Electric
Utilities
47,833,481
Food
Products
-
0.6%
2,042
Land
O'
Lakes
Inc,
144A
8.000%
N/A
(4)
BB
1,919,480
3,200
Land
O'
Lakes
Inc,
144A
7.000%
N/A
(4)
BB
2,800,000
3,300
Land
O'
Lakes
Inc,
144A
7.250%
N/A
(4)
BB
2,887,500
Total
Food
Products
7,606,980
Independent
Power
Producers
&
Energy
Traders
-
2.0%
7,250
Vistra
Corp,
144A
7.000%
N/A
(4)
Ba3
6,781,142
20,475
Vistra
Corp,
144A
8.000%
N/A
(4)
Ba3
19,656,000
Total
Independent
Power
Producers
&
Energy
Traders
26,437,142
Insurance
-
1.5%
5,825
Enstar
Finance
LLC
5.500%
1/15/42
BBB-
4,645,434
4,950
Enstar
Finance
LLC
5.750%
9/01/40
BBB-
4,411,935
10,255
Liberty
Mutual
Group
Inc,
144A
7.800%
3/15/37
Baa3
11,122,951
Total
Insurance
20,180,320
Media
-
1.0%
7,125
Paramount
Global
6.375%
3/30/62
Baa3
6,138,900
7,830
Sirius
XM
Radio
Inc,
144A
4.000%
7/15/28
BB
6,694,650
Total
Media
12,833,550
Multi-Utilities
-
1.0%
59
Algonquin
Power
&
Utilities
Corp
4.750%
1/18/82
BB+
48,823
7,400
Dominion
Energy
Inc
4.350%
N/A
(4)
BBB-
6,417,802
6,721
Sempra
Energy
4.875%
N/A
(4)
BBB-
6,335,374
Total
Multi-Utilities
12,801,999
Oil,
Gas
&
Consumable
Fuels
-
1.0%
12,781
Transcanada
Trust
5.875%
8/15/76
BBB
12,142,498
1,150
Transcanada
Trust
5.600%
3/07/82
BBB
1,000,040
Total
Oil,
Gas
&
Consumable
Fuels
13,142,538
Technology
Hardware,
Storage
&
Peripherals
-
1.4%
6,720
Dell
International
LLC
/
EMC
Corp
6.020%
6/15/26
BBB
6,802,725
14,425
NCR
Corp,
144A
5.125%
4/15/29
B
12,319,270
Total
Technology
Hardware,
Storage
&
Peripherals
19,121,995
Total
$1,000
Par
(or
similar)
Institutional
Preferred
(cost
$374,361,309)
337,436,959
Shares
Description
(1)
Value
X
205,859,770
COMMON
STOCKS
-
15.5%
X
205,859,770
Aerospace
&
Defense
-
1.3%
26,800
General
Dynamics
Corp
$
6,107,988
31,400
Huntington
Ingalls
Industries
Inc
6,757,280
51,600
Raytheon
Technologies
Corp
5,061,444
Total
Aerospace
&
Defense
17,926,712
Nuveen
Flexible
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Shares
Description
(1)
Value
Banks
-
0.3%
71,700
Wells
Fargo
&
Co
$
3,353,409
Total
Banks
3,353,409
Building
Products
-
0.5%
147,300
Carrier
Global
Corp
6,632,919
Total
Building
Products
6,632,919
Chemicals
-
0.4%
68,100
DuPont
de
Nemours
Inc
4,973,343
Total
Chemicals
4,973,343
Communications
Equipment
-
0.6%
178,400
Cisco
Systems
Inc
8,638,128
Total
Communications
Equipment
8,638,128
Containers
&
Packaging
-
0.4%
97,100
Sealed
Air
Corp
4,721,002
Total
Containers
&
Packaging
4,721,002
Electrical
Equipment
-
0.5%
143,600
nVent
Electric
PLC
6,582,624
Total
Electrical
Equipment
6,582,624
Equity
Real
Estate
Investment
Trusts
-
1.0%
99,796
National
Storage
Affiliates
Trust
2,346,204
36,400
Public
Storage
10,881,780
Total
Equity
Real
Estate
Investment
Trusts
13,227,984
Food
&
Staples
Retailing
-
0.8%
71,500
Walmart
Inc
10,162,295
Total
Food
&
Staples
Retailing
10,162,295
Health
Care
Equipment
&
Supplies
-
0.3%
42,100
Medtronic
PLC
3,485,880
Total
Health
Care
Equipment
&
Supplies
3,485,880
Health
Care
Providers
&
Services
-
1.3%
24,600
Cigna
Group/The
7,185,660
20,700
Humana
Inc
10,246,914
Total
Health
Care
Providers
&
Services
17,432,574
Hotels,
Restaurants
&
Leisure
-
0.5%
26,900
McDonald's
Corp
7,099,179
Total
Hotels,
Restaurants
&
Leisure
7,099,179
Independent
Power
and
Renewable
Electricity
Producers
-
0.4%
89,967
NextEra
Energy
Partners
LP
5,961,214
Total
Independent
Power
and
Renewable
Electricity
Producers
5,961,214
Metals
&
Mining
-
0.4%
117,300
Freeport-McMoRan
Inc
4,805,781
Total
Metals
&
Mining
4,805,781
Multi-Utilities
-
1.1%
78,700
Public
Service
Enterprise
Group
Inc
4,755,841
61,691
Sempra
Energy
9,251,182
Total
Multi-Utilities
14,007,023
Shares
Description
(1)
Value
Oil,
Gas
&
Consumable
Fuels
-
2.5%
53,700
ConocoPhillips
$
5,549,895
44,700
Diamondback
Energy
Inc
6,283,926
15,100
Pioneer
Natural
Resources
Co
3,026,191
176,700
Shell
PLC,
ADR
10,738,059
62,100
Valero
Energy
Corp
8,180,433
Total
Oil,
Gas
&
Consumable
Fuels
33,778,504
Pharmaceuticals
-
1.7%
104,900
AstraZeneca
PLC,
Sponsored
ADR
6,837,382
93,600
Bristol-Myers
Squibb
Co
6,454,656
205,500
Sanofi,
ADR
9,627,675
Total
Pharmaceuticals
22,919,713
Semiconductors
&
Semiconductor
Equipment
-
0.5%
59,200
Applied
Materials
Inc
6,876,080
Total
Semiconductors
&
Semiconductor
Equipment
6,876,080
Software
-
0.5%
25,600
Microsoft
Corp
6,385,152
Total
Software
6,385,152
Technology
Hardware,
Storage
&
Peripherals
-
0.5%
441,400
Hewlett
Packard
Enterprise
Co
6,890,254
Total
Technology
Hardware,
Storage
&
Peripherals
6,890,254
Total
Common
Stocks
(cost
$186,847,202)
205,859,770
Shares
Description
(1)
Coupon
Ratings
(2)
Value
X
73,080,733
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
5.5%
X
73,080,733
Banks
-
1.2%
77,954
Citigroup
Inc
7.125%
BBB-
$
1,983,150
298,400
KeyCorp
6.200%
Baa3
7,415,240
322,500
Western
Alliance
Bancorp
4.250%
Ba1
6,837,000
Total
Banks
16,235,390
Capital
Markets
-
0.4%
197,807
Morgan
Stanley
7.125%
BBB
5,048,035
Total
Capital
Markets
5,048,035
Consumer
Finance
-
0.7%
274,200
Capital
One
Financial
Corp
5.000%
Baa3
5,744,490
194,900
Synchrony
Financial
5.625%
BB-
3,668,018
Total
Consumer
Finance
9,412,508
Food
Products
-
0.9%
384,432
CHS
Inc
6.750%
N/R
9,879,902
90,213
CHS
Inc
7.100%
N/R
2,318,474
Total
Food
Products
12,198,376
Insurance
-
2.0%
220,806
Athene
Holding
Ltd
6.375%
BBB
5,566,519
284,806
Athene
Holding
Ltd
6.350%
BBB
7,043,253
244,032
Enstar
Group
Ltd
7.000%
BBB-
5,749,394
291,225
Reinsurance
Group
of
America
Inc
7.125%
BBB+
7,667,954
Total
Insurance
26,027,120
Nuveen
Flexible
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Shares
Description
(1)
Coupon
Ratings
(2)
Value
Multi-Utilities
-
0.3%
179,590
Algonquin
Power
&
Utilities
Corp
6.200%
BB+
$
4,159,304
Total
Multi-Utilities
4,159,304
Total
$25
Par
(or
similar)
Retail
Preferred
(cost
$78,566,597)
73,080,733
Shares
Description
(1)
Coupon
Ratings
(2)
Value
X
28,388,934
CONVERTIBLE
PREFERRED
SECURITIES
-
2.1%
X
28,388,934
Banks
-
1.4%
2,870
Bank
of
America
Corp
7.250%
BBB+
$
3,426,321
12,630
Wells
Fargo
&
Co
7.500%
Baa2
15,066,706
Total
Banks
18,493,027
Electric
Utilities
-
0.7%
212,040
NextEra
Energy
Inc
6.219%
BBB
9,895,907
Total
Electric
Utilities
9,895,907
Total
Convertible
Preferred
Securities
(cost
$30,569,348)
28,388,934
Shares
Description
(1)
Coupon
Issue
Price
Cap
Price
Maturity
Value
16,050,017
STRUCTURED
NOTES
-
1.2%
X
16,050,017
108,100
JPMorgan
Chase
Bank,
Mandatory
Exchangeable
Note,
Linked
to
Common
Stock
of
Alphabet
Inc.
(Cap
115.50%
of
the
Issue
Price),
144A
10.000%
$89.8800
$103.8114
6/21/23
$
9,833,904
126,500
Merrill
Lynch
International
&
Co,
Mandatory
Exchangeable
Note,
Linked
to
Common
Stock
of
Alcoa
Corp.
(Cap
129.60%
of
the
Issue
Price),
144A
16.000%
$46.1600
$59.8234
6/21/23
6,216,113
Total
Structured
Notes
(cost
$15,703,307)
16,050,017
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
7,516,125
CONVERTIBLE
BONDS
-
0.6%
X
7,516,125
Media
-
0.4%
$
13,050
Liberty
Interactive
LLC
4.000%
11/15/29
BB-
$
4,437,000
Total
Media
4,437,000
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Wireless
Telecommunication
Services
-
0.2%
$
8,925
Liberty
Interactive
LLC
3.750%
2/15/30
BB-
$
3,079,125
Total
Wireless
Telecommunication
Services
3,079,125
Total
Convertible
Bonds
(cost
$16,792,689)
7,516,125
Total
Long-Term
Investments
(cost
$1,390,537,661)
1,281,014,370
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
3.2
%
X
42,551,356
MONEY
MARKET
FUNDS
-
3.2%
X
42,551,356
42,551,356
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(6)
4.600%(7)
$
42,551,356
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$42,551,356)
42,551,356
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
2.5%
32,631,972
REPURCHASE
AGREEMENTS
-
2.5%
32,631,972
$
32,632
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
2/28/23,
repurchase
price
$32,633,205,
collateralized
$39,958,000,
U.S.
Treasury
Bond,
3.000%,
due
8/15/48,
value
$33,284,668
1.360%
3/01/23
$
32,631,972
Total
Short-Term
Investments
(cost
$32,631,972)
32,631,972
Total
Investments
(cost
$
1,465,720,989
)
-
102
.2
%
1,356,197,698
Other
Assets
&
Liabilities,
Net
- (2.2)%
(
28,757,972
)
Net
Assets
-
100%
$
1,327,439,726
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.
(2)
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.
(3)
Investment,
or
a
portion
of
investment,
is
out
on
loan
for
securities
lending.
The
total
value
of
the
securities
out
on
loan
as
of
the
end
of
the
reporting
period
was
$41,169,461.
(4)
Perpetual
security.
Maturity
date
is
not
applicable.
(5)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(6)
The
Fund
may
loan
securities
representing
up
to
one
third
of
the
market
value
of
its
total
assets
(which
includes
collateral
for
securities
on
loan)
to
broker
dealers,
banks,
and
other
institutions.
The
collateral
maintained
by
the
Fund
shall
have
a
market
value,
at
the
inception
of
each
loan,
equal
to
not
less
than
100%
of
the
market
value
of
the
loaned
securities.
The
cash
collateral
received
by
the
Fund
is
invested
in
this
money
market
fund.
(7)
The
rate
shown
is
the
one-day
yield
as
of
the
end
of
the
reporting
period.
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
LIBOR
London
Inter-Bank
Offered
Rate
See
Notes
to
Financial
Statements
Nuveen
Floating
Rate
Income
Fund
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
LONG-TERM
INVESTMENTS
-
99.8%
X
1,652,197,635
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
82.5%
(2)
X
1,652,197,635
Aerospace
&
Defense
-
0.3%
$
1,830
TransDigm,
Inc.,
Term
Loan
E
7.178%
3-Month
LIBOR
2.250%
5/30/25
Ba3
$
1,830,303
3,363
TransDigm,
Inc.,
Term
Loan
F
7.178%
3-Month
LIBOR
2.250%
12/09/25
Ba3
3,361,809
Total
Aerospace
&
Defense
5,192,112
Airlines
-
2.6%
4,278
AAdvantage
Loyalty
IP
Ltd.,
Term
Loan
9.558%
3-Month
LIBOR
4.750%
4/20/28
Ba2
4,391,908
10,855
Air
Canada,
Term
Loan
B
8.369%
3-Month
LIBOR
3.500%
8/11/28
Ba2
10,860,552
17,487
Kestrel
Bidco
Inc.,
Term
Loan
B
7.592%
1-Month
LIBOR
3.000%
12/11/26
B+
16,704,322
7,908
Mileage
Plus
Holdings
LLC,
Term
Loan
B
9.996%
3-Month
LIBOR
5.250%
6/20/27
Baa3
8,247,487
3,191
SkyMiles
IP
Ltd.,
Term
Loan
B
8.558%
3-Month
LIBOR
3.750%
10/20/27
Baa1
3,308,218
8,148
United
Airlines,
Inc.,
Term
Loan
B
8.568%
3-Month
LIBOR
3.750%
4/21/28
Ba1
8,154,833
Total
Airlines
51,667,320
Auto
Components
-
1.1%
6,157
Adient
US
LLC,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
4/08/28
BB+
6,162,467
11,863
Clarios
Global
LP,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
4/30/26
B1
11,835,244
3,414
DexKo
Global
Inc.,
Term
Loan
B
7.816%
3
Month
LIBOR
3.750%
10/04/28
B2
3,212,762
Total
Auto
Components
21,210,473
Beverages
-
1.1%
1,542
City
Brewing
Company,
LLC,
Term
Loan
8.330%
3-Month
LIBOR
3.500%
4/05/28
CCC
762,364
5,657
Naked
Juice
LLC,
Term
Loan
7.930%
SOFR90A
3.250%
1/20/29
B2
5,158,021
1,040
Naked
Juice
LLC,
Term
Loan,
Second
Lien
10.680%
SOFR90A
6.000%
1/20/30
CCC
811,028
7,750
Sunshine
Investments
B.V.,
Term
Loan
9.011%
SOFR90A
4.250%
5/05/29
B+
7,724,193
8,078
Triton
Water
Holdings,
Inc,
Term
Loan
8.230%
3-Month
LIBOR
3.500%
3/31/28
B1
7,547,284
Total
Beverages
22,002,890
Biotechnology
-
0.3%
6,800
Grifols
Worldwide
Operations
USA,
Inc.,
Term
Loan
B
6.635%
1-Month
LIBOR
2.000%
11/15/27
BB+
6,632,142
Total
Biotechnology
6,632,142
Building
Products
-
0.4%
5,905
Chamberlain
Group
Inc,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/22/28
B
5,699,978
299
Cornerstone
Building
Brands,
Inc.,
Term
Loan
B
7.838%
1-Month
LIBOR
3.250%
4/12/28
B
277,306
772
Griffon
Corporation,
Term
Loan
B
7.829%
SOFR90A
+
Prime
2.500%
1/19/29
BB
767,691
655
Quikrete
Holdings,
Inc.,
Term
Loan,
First
Lien
7.260%
1-Month
LIBOR
2.625%
1/31/27
Ba2
650,238
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Building
Products
(continued)
$
1,410
Standard
Industries
Inc.,
Term
Loan
B
6.425%
3-Month
LIBOR
2.250%
9/22/28
BBB-
$
1,408,805
Total
Building
Products
8,804,018
Capital
Markets
-
0.2%
3,627
Motion
Finco
LLC,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
B
3,565,322
Total
Capital
Markets
3,565,322
Chemicals
-
1.1%
1,639
ASP
Unifrax
Holdings
Inc,
Term
Loan
B
8.480%
3-Month
LIBOR
3.750%
12/12/25
BB
1,522,650
838
Avient
Corporation,
Term
Loan
B
7.926%
SOFR90A
3.250%
8/29/29
BB+
839,571
4,700
Axalta
Coating
Systems
Dutch
Holding
B
B.V,
Term
Loan
B
7.506%
TSFR3M
3.000%
12/08/29
BBB-
4,726,861
3,586
Diamond
(BC)
B.V.,
Term
Loan
B
7.480%
1
+
3
Month
LIBOR
2.750%
9/29/28
Ba3
3,530,487
3,900
Discovery
Purchaser
Corporation,
Term
Loan
8.962%
TSFR3M
4.375%
8/03/29
B-
3,744,702
822
INEOS
Styrolution
US
Holding
LLC,
Term
Loan
B
7.385%
1-Month
LIBOR
2.750%
1/29/26
BB+
819,522
1,241
Kraton
Corporation,
Term
Loan
8.040%
SOFR90A
3.250%
3/15/29
BB
1,238,559
5,425
Trinseo
Materials
Operating
S.C.A.,
Term
Loan
6.635%
1-Month
LIBOR
2.000%
9/09/24
Ba2
5,360,186
Total
Chemicals
21,782,538
Commercial
Services
&
Supplies
-
2.7%
3,383
Amentum
Government
Services
Holdings
LLC,
Term
Loan
8.764%
SOFR90A
4.000%
2/07/29
B1
3,353,399
589
Anticimex
International
AB,
Term
Loan
8.953%
3-Month
LIBOR
4.000%
11/16/28
B
587,187
2,178
Anticimex
International
AB,
Term
Loan
B1
8.453%
3-Month
LIBOR
3.500%
11/16/28
B
2,158,943
4,274
Covanta
Holding
Corporation,
Term
Loan
B,
(DD1)
7.118%
TSFR1M
2.500%
11/30/28
Ba1
4,269,111
323
Covanta
Holding
Corporation,
Term
Loan
C,
(DD1)
7.061%
TSFR1M
2.500%
11/30/28
Ba1
322,580
4,929
Garda
World
Security
Corporation,
Term
Loan
B
8.850%
1-Month
LIBOR
4.250%
10/30/26
BB+
4,930,823
18,333
GFL
Environmental
Inc.,
Term
Loan
7.561%
TSFR1M
3.000%
5/31/27
BB-
18,384,983
2,469
Herman
Miller,
Inc,
Term
Loan
B
2.114%
TSFR1M
2.000%
7/19/28
BB+
2,428,633
3,026
Intrado
Corporation,
Term
Loan
8.825%
3-Month
LIBOR
4.000%
10/10/24
B1
2,663,322
13,375
Prime
Security
Services
Borrower,
LLC,
Term
Loan
7.517%
3-Month
LIBOR
2.750%
9/23/26
BB-
13,367,666
1,298
West
Corporation,
Term
Loan
B1
8.075%
3-Month
LIBOR
3.250%
10/10/24
B1
1,222,046
1,069
WIN
Waste
Innovations
Holdings,
Inc.,
Term
Loan
B
7.480%
3-Month
LIBOR
2.750%
3/25/28
B
1,018,025
Total
Commercial
Services
&
Supplies
54,706,718
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Communications
Equipment
-
0.9%
$
3,138
Avaya,
Inc.,
Term
Loan
B
(5)
8.838%
1-Month
LIBOR
4.250%
12/15/27
C
$
855,105
8,552
CommScope,
Inc.,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
4/04/26
B1
8,321,102
650
Delta
TopCo,
Inc.,
Term
Loan,
Second
Lien
11.654%
SOFR90A
7.250%
12/01/28
CCC
572,543
2,075
EOS
Finco
Sarl,
Term
Loan
10.604%
SOFR90A
6.000%
8/03/29
B
2,059,437
3,527
MLN
US
HoldCo
LLC,
Term
Loan
11.154%
TSFR3M
6.700%
10/18/27
CCC+
2,556,778
6,070
MLN
US
HoldCo
LLC,
Term
Loan,
First
Lien
8.252%
3-Month
LIBOR
4.500%
11/30/25
CCC-
1,805,893
3,301
Riverbed
Technology,
Inc.,
Exit
Term
Loan,
(DD1)
(cash
10.840%,
PIK
2.000%)
10.840%
3
+
12
Month
LIBOR
6.000%
12/07/26
Caa1
1,202,886
1,617
ViaSat,
Inc.,
Term
Loan
9.232%
TSFR1M
4.500%
3/04/29
BB+
1,602,727
Total
Communications
Equipment
18,976,471
Construction
&
Engineering
-
0.1%
242
Aegion
Corporation,
Term
Loan
9.385%
1-Month
LIBOR
4.750%
5/17/28
B
236,270
2,437
Centuri
Group
Inc
7.863%
1
+
3
Month
LIBOR
+
Prime
2.167%
8/27/28
Ba2
2,424,627
Total
Construction
&
Engineering
2,660,897
Consumer
Finance
-
0.1%
1,555
Fleetcor
Technologies
Operating
Company,
LLC,
Term
Loan
B4
6.385%
1-Month
LIBOR
1.750%
4/30/28
BB+
1,545,889
Total
Consumer
Finance
1,545,889
Containers
&
Packaging
-
0.9%
4,435
Berry
Global,
Inc.,
Term
Loan
Z
6.325%
1-Month
LIBOR
1.750%
7/01/26
BBB-
4,429,266
1,418
Clydesdale
Acquisition
Holdings
Inc,
Term
Loan
B
8.893%
SOFR30A
4.175%
3/30/29
B
1,400,912
5,435
Klockner-Pentaplast
of
America,
Inc.,
Term
Loan
B
9.816%
6-Month
LIBOR
4.750%
2/09/26
B
5,034,635
1,795
Reynolds
Group
Holdings
Inc.
,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
9/24/28
B+
1,789,575
4,534
Reynolds
Group
Holdings
Inc.
,
Term
Loan
B2
7.885%
1-Month
LIBOR
3.250%
2/05/26
B+
4,528,971
1,569
TricorBraun
Holdings,
Inc.,
Term
Loan
7.885%
1-Month
LIBOR
3.250%
3/03/28
B2
1,534,618
Total
Containers
&
Packaging
18,717,977
Diversified
Consumer
Services
-
0.3%
1,500
AVSC
Holding
Corp.,
Term
Loan
B3
(cash
15.000%,
PIK
10.000%)
15.000%
3-Month
LIBOR
15.000%
12/04/26
CCC+
1,606,252
4,182
Spin
Holdco
Inc.,
Term
Loan,
(DD1)
8.765%
3-Month
LIBOR
4.000%
3/04/28
B-
3,543,013
Total
Diversified
Consumer
Services
5,149,265
Diversified
Financial
Services
-
0.4%
4,682
Avaya,
Inc.,
Term
Loan
B2
(5)
8.588%
1-Month
LIBOR
4.000%
12/15/27
C
1,275,916
665
Avolon
TLB
Borrower
1
(US)
LLC,
Term
Loan
B4
6.098%
1-Month
LIBOR
1.500%
2/12/27
Baa2
659,747
1,964
Ditech
Holding
Corporation,
Term
Loan
0.000%
N/A
N/A
12/19/22
N/R
117,833
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Diversified
Financial
Services
(continued)
$
5,211
Trans
Union,
LLC,
Term
Loan
B6
6.885%
1-Month
LIBOR
2.250%
12/01/28
BBB-
$
5,188,122
Total
Diversified
Financial
Services
7,241,618
Diversified
Telecommunication
Services
-
2.8%
1,691
Altice
France
S.A.,
Term
Loan
B12
8.517%
3-Month
LIBOR
3.688%
1/31/26
B
1,643,824
9,621
Altice
France
S.A.,
Term
Loan
B13
8.864%
3-Month
LIBOR
4.000%
8/14/26
B
9,366,685
1,491
Cablevision
Lightpath
LLC,
Term
Loan
B
7.838%
1-Month
LIBOR
3.250%
12/01/27
B1
1,483,234
334
CenturyLink,
Inc.,
Term
Loan
B
6.885%
1-Month
LIBOR
2.250%
3/15/27
BB+
278,648
5,970
Cincinnati
Bell,
Inc.,
Term
Loan
B2
7.968%
SOFR30A
3.250%
11/23/28
B+
5,941,495
606
Connect
Finco
Sarl,
Term
Loan
B
8.140%
1-Month
LIBOR
3.500%
12/12/26
B+
596,786
13,836
Cyxtera
DC
Holdings,
Inc.,
Term
Loan
B
7.820%
3-Month
LIBOR
3.000%
5/01/24
CCC+
12,504,349
9,278
Dawn
Acquisition
LLC,
Term
Loan
8.480%
3-Month
LIBOR
3.750%
12/31/25
Caa1
5,855,683
2,710
Eagle
Broadband
Investments
LLC,
Term
Loan
7.750%
3-Month
LIBOR
3.000%
11/12/27
B+
2,684,874
16,546
Frontier
Communications
Corp.,
Term
Loan
B
8.500%
3-Month
LIBOR
3.750%
10/08/27
BB+
16,228,207
Total
Diversified
Telecommunication
Services
56,583,785
Electric
Utilities
-
0.8%
853
ExGen
Renewables
IV,
LLC,
Term
Loan
7.460%
3-Month
LIBOR
2.500%
12/15/27
BB-
852,555
4,488
Pacific
Gas
&
Electric
Company,
Term
Loan
7.688%
1-Month
LIBOR
3.000%
6/23/25
BB
4,478,913
9,834
Talen
Energy
Supply,
LLC,
Term
Loan
B
(5)
8.385%
1-Month
LIBOR
3.750%
7/08/26
N/R
9,991,344
Total
Electric
Utilities
15,322,812
Electronic
Equipment,
Instruments
&
Components
-
0.5%
2,840
II-VI
Incorporated,
Term
Loan
B
7.385%
1-Month
LIBOR
2.750%
7/01/29
BBB-
2,834,474
8,037
Ingram
Micro
Inc.,
Term
Loan
B
8.230%
3-Month
LIBOR
3.500%
7/02/28
BB+
8,017,104
Total
Electronic
Equipment,
Instruments
&
Components
10,851,578
Entertainment
-
0.7%
12,555
AMC
Entertainment
Holdings,
Inc.
,
Term
Loan
B
7.573%
1-Month
LIBOR
3.000%
4/22/26
B-
7,912,626
2,325
Crown
Finance
US,
Inc.,
Term
Loan
(5)
0.000%
N/A
N/A
9/20/26
D
379,857
5,123
Crown
Finance
US,
Inc.,
Term
Loan
(5)
0.000%
N/A
N/A
2/28/25
D
842,553
867
Diamond
Sports
Group,
LLC,
Term
Loan,
Second
Lien
8.025%
SOFR90A
3.250%
8/24/26
Caa2
102,002
1,201
Lions
Gate
Capital
Holdings
LLC,
Term
Loan
B
6.885%
1-Month
LIBOR
2.250%
3/24/25
Ba2
1,192,258
1,027
Playtika
Holding
Corp,
Term
Loan
7.385%
1-Month
LIBOR
2.750%
3/11/28
BB+
1,017,970
2,574
Univision
Communications
Inc.,
Term
Loan
C5
7.385%
1-Month
LIBOR
2.750%
3/15/24
B+
2,576,471
Total
Entertainment
14,023,737
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Food
&
Staples
Retailing
-
1.3%
$
11,501
US
Foods,
Inc.,,
(DD1)
6.635%
1-Month
LIBOR
2.000%
9/13/26
BB
$
11,487,094
15,482
US
Foods,
Inc.,
Term
Loan
B
7.385%
1-Month
LIBOR
2.750%
11/22/28
BB
15,484,259
Total
Food
&
Staples
Retailing
26,971,353
Food
Products
-
0.5%
1,286
8th
Avenue
Food
&
Provisions,
Inc.,
Term
Loan,
First
Lien,
(DD1)
8.385%
1-Month
LIBOR
3.750%
10/01/25
CCC+
1,133,072
3,883
CHG
PPC
Parent
LLC,
Term
Loan
7.688%
1-Month
LIBOR
3.000%
12/08/28
B1
3,844,319
119
H
Food
Holdings
LLC,
Term
Loan
B3
9.635%
1-Month
LIBOR
5.000%
5/31/25
B2
107,695
4,359
Sycamore
Buyer
LLC,
Term
Loan
B
6.939%
SOFR90A
2.250%
7/22/29
BB+
4,252,823
Total
Food
Products
9,337,909
Health
Care
Equipment
&
Supplies
-
3.5%
23,376
Bausch
&
Lomb,
Inc.,
Term
Loan
7.842%
SOFR90A
3.250%
5/05/27
BB-
22,916,435
1,397
Carestream
Health,
Inc.,
Term
Loan
12.180%
SOFR90A
7.500%
9/30/27
B-
958,798
1,271
Embecta
Corp,
Term
Loan
B
7.791%
SOFR180A
3.000%
1/27/29
Ba3
1,253,161
3,240
ICU
Medical,
Inc.,
Term
Loan
B
7.174%
TSFRM1
+
SOFR90A
2.375%
12/14/28
BBB-
3,227,550
41,702
Medline
Borrower,
LP,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/21/28
BB-
40,274,001
1,470
Viant
Medical
Holdings,
Inc.,
Term
Loan,
First
Lien
8.385%
1-Month
LIBOR
3.750%
7/02/25
B3
1,375,577
532
Vyaire
Medical,
Inc.,
Term
Loan
B
9.517%
3-Month
LIBOR
4.750%
4/16/25
Caa1
386,350
Total
Health
Care
Equipment
&
Supplies
70,391,872
Health
Care
Providers
&
Services
-
6.1%
2,651
Agiliti
Health,
Inc,
Term
Loan
7.375%
1-Month
LIBOR
2.750%
1/04/26
B+
2,640,651
407
Agiliti
Health,
Inc,
Term
Loan
7.375%
1-Month
LIBOR
2.750%
1/04/26
B+
406,125
6,254
AHP
Health
Partners,
Inc.,
Term
Loan
B
8.135%
1-Month
LIBOR
3.500%
8/23/28
B1
6,219,852
4,747
DaVita,
Inc.
,
Term
Loan
B
6.385%
1-Month
LIBOR
1.750%
8/12/26
BBB-
4,677,444
510
Element
Materials
Technology
Group
US
Holdings
Inc.,
Term
Loan
7.903%
SOFR90A
4.250%
4/12/29
B1
506,815
1,105
Element
Materials
Technology
Group
US
Holdings
Inc.,
Term
Loan
8.930%
SOFR90A
4.250%
4/12/29
B1
1,098,099
2,646
EyeCare
Partners,
LLC,
Term
Loan
8.480%
3-Month
LIBOR
3.750%
2/20/27
B2
2,228,239
465
Forefront
Management
Holdings,
LLC,
Term
Loan
(6)
8.926%
SOFR90A
4.250%
3/23/29
B
457,018
2,473
Forefront
Management
Holdings,
LLC,
Term
Loan
B
8.926%
SOFR90A
4.250%
3/23/29
B
2,432,820
4,368
Gainwell
Acquisition
Corp.,
Term
Loan
B
8.730%
3-Month
LIBOR
4.000%
10/01/27
BB-
4,218,777
1,686
Global
Medical
Response,
Inc.,
Term
Loan
9.203%
1-Month
LIBOR
4.250%
3/14/25
B-
1,351,174
9,430
Global
Medical
Response,
Inc.,
Term
Loan
B
8.830%
1-Month
LIBOR
4.250%
10/02/25
B-
7,522,422
5,754
ICON
Luxembourg
S.A.R.L.,
Term
Loan
7.000%
3-Month
LIBOR
2.250%
7/01/28
BB+
5,754,126
1,295
Onex
TSG
Intermediate
Corp.,
Term
Loan
B
9.688%
3-Month
LIBOR
4.750%
2/26/28
B
1,158,624
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Health
Care
Providers
&
Services
(continued)
$
2,209
Packaging
Coordinators
Midco,
Inc.,
Term
Loan,
First
Lien
8.230%
3-Month
LIBOR
3.500%
11/30/27
B2
$
2,169,876
32,541
Parexel
International
Corporation,
Term
Loan,
First
Lien
7.867%
1-Month
LIBOR
3.250%
11/15/28
B1
31,914,990
3,492
Phoenix
Guarantor
Inc,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
3/05/26
B1
3,433,934
218
Quorum
Health
Corporation,
Term
Loan
(5)
12.975%
3-Month
LIBOR
8.250%
4/29/25
CCC
155,374
15,730
Select
Medical
Corporation,
Term
Loan
B
7.140%
1-Month
LIBOR
2.500%
3/06/25
Ba2
15,685,280
739
Sound
Inpatient
Physicians,
Term
Loan
B
7.825%
3-Month
LIBOR
3.000%
6/28/25
B-
602,081
18,367
Surgery
Center
Holdings,
Inc.,
Term
Loan
8.360%
1-Month
LIBOR
3.750%
8/31/26
B1
18,263,353
8,676
Team
Health
Holdings,
Inc.,
Term
Loan,
First
Lien,
(DD1)
7.385%
1-Month
LIBOR
2.750%
2/06/24
B-
8,035,080
1,854
US
Radiology
Specialists,
Inc.,
Term
Loan
9.885%
1-Month
LIBOR
5.250%
12/15/27
B-
1,739,295
Total
Health
Care
Providers
&
Services
122,671,449
Health
Care
Technology
-
0.0%
19
Athenahealth,
Inc.,
Term
Loan
(6)
8.061%
SOFR30A
3.500%
1/27/29
B+
17,606
32
Athenahealth,
Inc.,
Term
Loan
B
8.061%
SOFR30A
3.500%
1/27/29
B+
30,173
Total
Health
Care
Technology
47,779
Hotels,
Restaurants
&
Leisure
-
10.8%
153
24
Hour
Fitness
Worldwide,
Inc.,
Exit
Term
Loan
(cash
18.849%,
PIK
12.000%)
18.849%
3-Month
LIBOR
14.000%
9/29/26
Caa3
84,277
342
24
Hour
Fitness
Worldwide,
Inc.,
Term
Loan
9.726%
3-Month
LIBOR
5.000%
12/29/25
CCC-
29,956
8,696
Alterra
Mountain
Company,
Term
Loan
8.135%
1-Month
LIBOR
3.500%
8/17/28
B+
8,690,331
3,398
Alterra
Mountain
Company,
Term
Loan
B1
7.385%
1-Month
LIBOR
2.750%
7/31/24
B+
3,398,596
28,056
B.C.
Unlimited
Liability
Company,
Term
Loan
B4
6.840%
1
Month
LIBOR
1.750%
11/19/26
BB+
27,872,827
4,845
Caesars
Entertainment
Corp,
Term
Loan
B
7.968%
TSFR1M
3.250%
1/25/30
Ba3
4,844,661
3,045
Carnival
Corporation,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/18/28
BB-
2,961,559
8,364
Carnival
Corporation,
Term
Loan
B
7.635%
1-Month
LIBOR
3.000%
6/30/25
Ba2
8,244,351
2,962
Churchill
Downs
Incorporated,
Term
Loan
B
6.640%
1-Month
LIBOR
2.000%
12/27/24
BBB-
2,963,798
5,059
Churchill
Downs
Incorporated,
Term
Loan
B1
6.640%
1-Month
LIBOR
2.000%
3/17/28
BBB-
5,033,650
18,224
ClubCorp
Holdings,
Inc.,
Term
Loan
B
7.480%
3-Month
LIBOR
2.750%
9/18/24
B2
17,186,056
6,212
Crown
Finance
US,
Inc.,
Term
Loan,
(DD1)
14.756%
SOFR90A
10.000%
9/09/23
N/R
6,351,486
6,755
Equinox
Holdings,
Inc.,
Term
Loan,
First
Lien,
(DD1)
7.730%
3-Month
LIBOR
3.000%
3/08/24
Caa2
5,716,510
583
Equinox
Holdings,
Inc.,
Term
Loan,
Second
Lien
11.730%
3-Month
LIBOR
7.000%
3/08/25
Ca
375,913
2,199
Everi
Holdings
Inc.,
Term
Loan
B
7.135%
1-Month
LIBOR
2.500%
8/03/28
BB+
2,194,031
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Hotels,
Restaurants
&
Leisure
(continued)
$
15,386
Fertitta
Entertainment,
LLC,
Term
Loan
B
8.618%
SOFR30A
4.000%
1/27/29
B
$
14,996,243
4,315
GVC
Holdings
(Gibraltar)
Limited,
Term
Loan
B
8.180%
SOFR90A
3.500%
10/31/29
Ba1
4,318,366
3,696
Hilton
Grand
Vacations
Borrower
LLC,
Term
Loan
B
7.635%
1-Month
LIBOR
3.000%
8/02/28
BB+
3,694,849
3,113
IRB
Holding
Corp,
Term
Loan
B
7.687%
SOFR90A
3.000%
12/15/27
B+
3,077,013
1,169
Life
Time
Fitness
Inc
,
Term
Loan
B
9.385%
1-Month
LIBOR
4.750%
12/15/24
B+
1,169,562
517
Motion
Finco
LLC,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
B
508,492
11,191
NASCAR
Holdings,
Inc,
Term
Loan
B
7.135%
1-Month
LIBOR
2.500%
10/18/26
BBB-
11,201,709
711
PCI
Gaming
Authority,
Term
Loan
7.135%
1-Month
LIBOR
2.500%
5/31/26
BBB-
710,890
4,325
Penn
National
Gaming,
Inc.,
Term
Loan
B
7.468%
SOFR30A
2.750%
4/20/29
BB
4,318,042
3,125
Playa
Resorts
Holding
B.V.,
Term
Loan
B
8.814%
SOFR30A
4.250%
12/15/28
B
3,120,125
11,975
Scientific
Games
International,
Inc.,
Term
Loan
7.662%
SOFR30A
3.000%
4/07/29
BBB-
11,962,012
6,560
SeaWorld
Parks
&
Entertainment,
Inc.,
Term
Loan
B
7.688%
1-Month
LIBOR
3.000%
8/25/28
BB
6,551,549
28,778
Stars
Group
Holdings
B.V.
(The),
Term
Loan
6.980%
3-Month
LIBOR
2.250%
7/10/25
BBB
28,774,634
5,138
Stars
Group
Holdings
B.V.
(The),
Term
Loan
B
8.092%
SOFR90A
3.250%
7/04/28
BBB
5,145,048
2,521
Station
Casinos
LLC,
Term
Loan
B
6.890%
1-Month
LIBOR
2.250%
2/08/27
BB-
2,509,805
8,101
Twin
River
Worldwide
Holdings,
Inc.,
Term
Loan
B
7.851%
1-Month
LIBOR
3.250%
10/01/28
BB+
7,736,101
9,713
William
Morris
Endeavor
Entertainment,
LLC,
Term
Loan,
First
Lien
5.279%
1
+
3
Month
LIBOR
2.750%
5/16/25
B+
9,681,829
Total
Hotels,
Restaurants
&
Leisure
215,424,271
Household
Durables
-
0.8%
8,962
AI
Aqua
Merger
Sub,
Inc.,
Term
Loan
B,
First
Lien,
(DD1)
8.216%
3-Month
LIBOR
+
SOFR30A
3.750%
7/30/28
B
8,656,114
7,512
Weber-Stephen
Products
LLC,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/30/27
CCC+
6,596,014
Total
Household
Durables
15,252,128
Independent
Power
and
Renewable
Electricity
Producers
-
0.3%
5,892
Talen
Energy
Supply,
LLC,
Term
Loan
4.120%
SOFR90A
4.750%
11/11/23
N/R
5,954,602
Total
Independent
Power
and
Renewable
Electricity
Producers
5,954,602
Insurance
-
4.3%
3,739
Acrisure,
LLC,
Term
Loan
B
8.104%
1-Month
LIBOR
3.500%
2/15/27
B
3,582,782
1,985
Acrisure,
LLC,
Term
Loan
B,
First
Lien
8.885%
1-Month
LIBOR
4.250%
2/15/27
B
1,917,355
10,460
Alliant
Holdings
Intermediate,
LLC,
Term
Loan
B4
8.092%
1-Month
LIBOR
3.500%
11/06/27
B
10,353,485
2,314
Alliant
Holdings
Intermediate,
LLC,
Term
Loan
B5
8.060%
TSFR1M
3.500%
2/08/27
B
2,288,581
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Insurance
(continued)
$
5,952
AssuredPartners,
Inc.,
Term
Loan
8.118%
SOFR30A
3.500%
2/13/27
B
$
5,835,337
1,980
AssuredPartners,
Inc.,
Term
Loan
B
8.135%
1-Month
LIBOR
3.500%
2/13/27
B
1,940,495
4,206
AssuredPartners,
Inc.,
Term
Loan
B
8.135%
1-Month
LIBOR
3.500%
2/13/27
B
4,121,669
2,745
Asurion
LLC,
Term
Loan
B4,
Second
Lien
9.885%
1-Month
LIBOR
5.250%
1/20/29
B
2,351,092
4,626
Asurion
LLC,
Term
Loan
B7
7.635%
1-Month
LIBOR
3.000%
11/03/24
Ba3
4,616,669
396
Asurion
LLC,
Term
Loan
B8
7.885%
1-Month
LIBOR
3.250%
12/23/26
Ba3
377,694
3,565
Asurion
LLC,
Term
Loan
B9
7.885%
1-Month
LIBOR
3.250%
7/31/27
Ba3
3,334,467
3,653
Broadstreet
Partners,
Inc.,
Term
Loan
B,
(DD1)
7.635%
1-Month
LIBOR
3.000%
1/27/27
B1
3,609,243
8,404
Broadstreet
Partners,
Inc.,
Term
Loan
B2
7.885%
1-Month
LIBOR
3.250%
1/27/27
B1
8,303,832
5,585
Hub
International
Limited,
Term
Loan
B
7.173%
3-Month
LIBOR
3.000%
4/25/25
B
5,577,374
1,155
Hub
International
Limited,
Term
Loan
B
8.728%
SOFR90A
4.000%
11/10/29
B
1,155,722
5,333
Hub
International
Limited,
Term
Loan
B
9.179%
3-Month
LIBOR
3.250%
4/25/25
B
5,332,021
11,949
Ryan
Specialty
Group,
LLC,
Term
Loan
7.718%
SOFR30A
3.000%
9/01/27
BB-
11,952,697
5,820
USI,
Inc.,
Term
Loan
8.330%
SOFR90A
3.750%
11/16/29
B1
5,817,386
3,931
USI,
Inc.,
Term
Loan
B
7.980%
3-Month
LIBOR
3.250%
12/02/26
B1
3,932,609
Total
Insurance
86,400,510
Interactive
Media
&
Services
-
0.6%
389
Getty
Images,
Inc.,
Term
Loan
B
9.218%
1-Month
LIBOR
4.500%
2/19/26
BB-
389,427
17,021
Rackspace
Technology
Global,
Inc.,
Term
Loan
B
7.595%
3-Month
LIBOR
2.750%
2/09/28
B-
10,784,997
Total
Interactive
Media
&
Services
11,174,424
Internet
&
Direct
Marketing
Retail
-
0.4%
5,950
CNT
Holdings
I
Corp,
Term
Loan
8.125%
TSFR3M
3.500%
11/08/27
B
5,853,114
2,481
Medical
Solutions
Holdings,
Inc.,
Term
Loan,
First
Lien,
(DD1)
8.135%
1-Month
LIBOR
3.500%
11/01/28
B1
2,418,266
Total
Internet
&
Direct
Marketing
Retail
8,271,380
IT
Services
-
1.4%
1,336
Ahead
DB
Holdings,
LLC,
Term
Loan
B
8.480%
3-Month
LIBOR
3.750%
10/16/27
B+
1,324,180
288
iQor
US
Inc.,
Exit
Term
Loan
12.135%
1-Month
LIBOR
7.500%
9/15/27
B1
286,966
5,652
Optiv
Security,
Inc.
,
Term
Loan,
First
Lien
7.420%
3-Month
LIBOR
3.250%
2/01/24
B-
5,621,985
3,072
Perforce
Software,
Inc.,
Term
Loan
B
8.385%
1-Month
LIBOR
3.750%
7/01/26
B2
2,911,522
11,840
Syniverse
Holdings,
Inc.,
Term
Loan
11.580%
SOFR90A
7.000%
5/10/29
B-
10,677,171
5,617
Tempo
Acquisition
LLC,
Term
Loan
B
7.618%
TSFR1M
3.000%
8/31/28
BB-
5,618,461
1,239
Travelport
Finance
(Luxembourg)
S.a.r.l.,
Term
Loan
(cash
6.230%,
PIK
7.250%)
6.230%
3-Month
LIBOR
1.500%
2/28/25
B-
1,277,937
782
WEX
Inc.,
Term
Loan
6.885%
1-Month
LIBOR
2.250%
4/01/28
Ba2
780,690
Total
IT
Services
28,498,912
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Leisure
Products
-
0.2%
$
3,442
Hayward
Industries,
Inc.,
Term
Loan
7.135%
1-Month
LIBOR
2.500%
5/28/28
BB
$
3,362,279
677
SRAM,
LLC
,
Term
Loan
B
7.385%
1-Month
LIBOR
2.750%
5/18/28
BB-
673,040
Total
Leisure
Products
4,035,319
Life
Sciences
Tools
&
Services
-
0.1%
681
Avantor
Funding,
Inc.,
Term
Loan
B5
6.885%
1-Month
LIBOR
2.250%
11/06/27
BB+
681,300
1,164
Curia
Global,
Inc.,
Term
Loan,
(DD1)
8.418%
TSFR1M
+
TSFR3M
3.750%
8/30/26
B3
1,005,603
1,434
ICON
Luxembourg
S.A.R.L.,
Term
Loan
7.000%
3-Month
LIBOR
2.250%
7/01/28
BB+
1,433,746
Total
Life
Sciences
Tools
&
Services
3,120,649
Machinery
-
1.3%
4,274
Ali
Group
North
America
Corporation,
Term
Loan
B
6.732%
TSFR1M
2.000%
10/13/28
Baa3
4,262,365
1,309
Alliance
Laundry
Systems
LLC,
Term
Loan
B
8.306%
3-Month
LIBOR
3.500%
10/08/27
B
1,299,952
5,155
Chart
Industries
Inc,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
Ba3
5,158,248
9,897
Gates
Global
LLC,
Term
Loan
B3
7.135%
1-Month
LIBOR
2.500%
3/31/27
Ba3
9,869,687
4,505
Grinding
Media
Inc.,
Term
Loan
B
7.649%
3-Month
LIBOR
4.000%
10/12/28
B
4,257,685
739
Madison
IAQ
LLC,
Term
Loan
7.988%
3-Month
LIBOR
3.250%
6/21/28
B2
705,255
Total
Machinery
25,553,192
Media
-
7.2%
3,149
ABG
Intermediate
Holdings
2
LLC,
Term
Loan
B1
8.218%
SOFR30A
3.500%
12/21/28
B1
3,097,025
640
ABG
Intermediate
Holdings
2
LLC,
Term
Loan,
Second
Lien
10.718%
SOFR30A
6.000%
12/20/29
CCC+
594,400
2,736
Altice
Financing
SA,
Term
Loan
9.566%
TSFR3M
5.000%
10/31/27
B
2,732,107
11,522
Cengage
Learning,
Inc.,
Term
Loan
B
9.880%
3-Month
LIBOR
4.750%
7/14/26
B
10,923,320
280
Checkout
Holding
Corp.,
First
Out
Term
Loan
12.088%
1-Month
LIBOR
7.500%
2/15/23
N/R
216,798
564
Checkout
Holding
Corp.,
Last
Out
Term
Loan
(cash
5.635%,
PIK
9.500%)
5.635%
1-Month
LIBOR
1.000%
8/15/23
N/R
129,790
36,445
Clear
Channel
Outdoor
Holdings,
Inc.,
Term
Loan
B
8.231%
1
+
3
Month
LIBOR
3.500%
8/21/26
B1
34,592,501
560
CSC
Holdings,
LLC,
Term
Loan
6.838%
1-Month
LIBOR
2.250%
1/15/26
B+
541,768
1,354
CSC
Holdings,
LLC,
Term
Loan
B1
6.838%
1-Month
LIBOR
2.250%
7/17/25
B+
1,310,631
746
CSC
Holdings,
LLC,
Term
Loan
B5
7.088%
1-Month
LIBOR
2.500%
4/15/27
B+
674,187
7,359
CSC
Holdings,
LLC,
Term
Loan
B6
9.062%
SOFR30A
4.500%
1/18/28
B+
6,908,668
14,284
DirecTV
Financing,
LLC,
Term
Loan
9.635%
1-Month
LIBOR
5.000%
8/02/27
BBB-
13,931,338
7,341
Dotdash
Meredith
Inc,
Term
Loan
B
8.668%
SOFR90A
4.000%
12/01/28
B+
6,496,632
516
Emerald
Expositions
Holding,
Inc.,
Term
Loan
B
7.135%
1-Month
LIBOR
2.500%
5/22/24
B
509,781
4,595
Formula
One
Holdings
Limited.,
Term
Loan
B
7.868%
TSFR1M
3.250%
1/15/30
BB+
4,613,380
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Media
(continued)
$
493
Gray
Television,
Inc.,
Term
Loan
B
7.066%
1-Month
LIBOR
2.500%
2/07/24
BB+
$
493,324
1,507
Gray
Television,
Inc.,
Term
Loan
C
7.066%
1-Month
LIBOR
2.500%
1/02/26
BB+
1,489,678
24,577
iHeartCommunications,
Inc.,
Term
Loan
7.635%
1-Month
LIBOR
3.000%
5/01/26
BB-
23,856,855
155
LCPR
Loan
Financing
LLC,
Term
Loan
B
8.338%
1-Month
LIBOR
3.750%
10/15/28
BB+
153,960
10,876
McGraw-Hill
Global
Education
Holdings,
LLC,
Term
Loan
9.964%
1
+
3
+
6
Month
LIBOR
4.750%
7/30/28
BB+
10,467,973
717
Mission
Broadcasting,
Inc.,
Term
Loan
B
7.047%
1-Month
LIBOR
2.500%
6/03/28
BBB-
715,287
2,907
Outfront
Media
Capital
LLC,
Term
Loan
B
6.385%
1-Month
LIBOR
1.750%
11/18/26
Ba1
2,879,747
5,469
Virgin
Media
Bristol
LLC,
Term
Loan
N
7.088%
1-Month
LIBOR
2.500%
1/31/28
BB+
5,374,250
3,891
WideOpenWest
Finance
LLC,
Term
Loan
B
7.580%
SOFR90A
3.000%
12/20/28
BB
3,885,350
7,871
Ziggo
Financing
Partnership,
Term
Loan
I
7.088%
1-Month
LIBOR
2.500%
4/30/28
BB
7,720,223
Total
Media
144,308,973
Multiline
Retail
-
0.0%
165
Belk,
Inc.,
Term
Loan
12.458%
1-Month
LIBOR
7.500%
7/31/25
CCC
140,745
811
Belk,
Inc.,
Term
Loan
(cash
13.000%,
PIK
8.000%)
13.000%
3-Month
LIBOR
13.000%
7/31/25
C
152,213
Total
Multiline
Retail
292,958
Oil,
Gas
&
Consumable
Fuels
-
2.5%
391
BCP
Renaissance
Parent
LLC,
Term
Loan
B3
8.118%
TSFR1M
3.500%
10/31/26
B+
390,155
4,252
Buckeye
Partners,
L.P.,
Term
Loan
B
6.816%
1-Month
LIBOR
2.250%
11/01/26
BBB-
4,253,208
2,593
Crown
Finance
US,
Inc.,
Term
Loan
6.642%
3-Month
LIBOR
2.750%
2/28/24
CCC+
435,905
17,766
Freeport
LNG
Investments,
LLLP,
Term
Loan
A
7.808%
3-Month
LIBOR
3.000%
11/16/26
N/R
17,411,212
12,957
Gulf
Finance,
LLC,
Term
Loan
8.711%
1-Month
LIBOR
6.750%
8/25/26
B
12,739,010
3,157
M6
ETX
Holdings
II
Midco
LLC,
Term
Loan
B
9.158%
SOFR90A
4.500%
8/11/29
BB
3,148,532
5,722
QuarterNorth
Energy
Holding
Inc.,
Exit
Term
Loan,
Second
Lien
12.635%
1-Month
LIBOR
8.000%
8/27/26
B
5,712,962
4,306
TransMontaigne
Operating
Company
L.P.,
Term
Loan
B
6.739%
1
+
3
Month
LIBOR
3.500%
11/05/28
BB
4,290,695
1,225
Traverse
Midstream
Partners
LLC,
Term
Loan
B
8.450%
SOFR90A
3.750%
2/16/28
B+
1,217,015
Total
Oil,
Gas
&
Consumable
Fuels
49,598,694
Paper
&
Forest
Products
-
0.1%
2,621
Asplundh
Tree
Expert,
LLC,
Term
Loan
B,
(DD1)
6.367%
1-Month
LIBOR
1.750%
9/04/27
BBB-
2,616,456
Total
Paper
&
Forest
Products
2,616,456
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Personal
Products
-
0.3%
$
573
Conair
Holdings,
LLC,
Term
Loan
B
8.480%
3-Month
LIBOR
3.750%
5/17/28
B-
$
511,275
2,500
Kronos
Acquisition
Holdings
Inc,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
B2
2,448,437
2,476
Kronos
Acquisition
Holdings
Inc.,
Term
Loan
B,
(DD1)
8.703%
3-Month
LIBOR
3.750%
12/22/26
B2
2,415,369
Total
Personal
Products
5,375,081
Pharmaceuticals
-
3.4%
765
Catalent
Pharma
Solutions
Inc.,
Term
Loan
B3
6.625%
1-Month
LIBOR
2.000%
2/22/28
BBB-
764,930
30,310
Jazz
Financing
Lux
S.a.r.l.,
Term
Loan
8.135%
1-Month
LIBOR
3.500%
5/05/28
BB+
30,296,598
3,465
LSCS
Holdings,
Inc.,
Term
Loan,
First
Lien
9.135%
1-Month
LIBOR
4.500%
12/16/28
B2
3,390,295
1,947
Mallinckrodt
International
Finance
S.A.,
Term
Loan,
(DD1)
10.236%
3-Month
LIBOR
5.500%
9/30/27
B3
1,548,671
13,242
Mallinckrodt
International
Finance
S.A.,
Term
Loan,
(DD1)
9.986%
3-Month
LIBOR
5.250%
9/30/27
B3
10,541,003
19,769
Organon
&
Co,
Term
Loan
7.750%
3-Month
LIBOR
3.000%
6/02/28
BB
19,612,584
2,876
Perrigo
Investments,
LLC,
Term
Loan
B
7.218%
SOFR30A
2.500%
4/05/29
Baa3
2,885,534
Total
Pharmaceuticals
69,039,615
Professional
Services
-
0.8%
1,767
CCRR
Parent,
Inc,
Term
Loan
B
8.390%
1-Month
LIBOR
3.750%
3/05/28
B
1,731,780
2,406
CHG
Healthcare
Services
Inc.,
Term
Loan
7.885%
1-Month
LIBOR
3.250%
9/30/28
B1
2,395,506
2,093
Dun
&
Bradstreet
Corporation
(The),
Term
Loan
7.867%
1-Month
LIBOR
3.250%
2/08/26
BB+
2,091,214
2,645
Dun
&
Bradstreet
Corporation
(The),
Term
Loan
B2
7.855%
SOFR30A
3.250%
1/18/29
BB+
2,636,416
1,055
Physician
Partners
LLC,
Term
Loan
8.718%
SOFR30A
4.000%
2/01/29
B
1,016,420
5,852
Verscend
Holding
Corp.,
Term
Loan
B
8.635%
1-Month
LIBOR
4.000%
8/27/25
BB-
5,856,793
Total
Professional
Services
15,728,129
Real
Estate
Management
&
Development
-
0.3%
2,841
Cushman
&
Wakefield
U.S.
Borrower,
LLC,
Term
Loan
7.968%
TSFR1M
3.250%
1/31/30
BB
2,830,163
2,252
Cushman
&
Wakefield
U.S.
Borrower,
LLC,
Term
Loan
B
7.385%
1-Month
LIBOR
2.750%
8/21/25
BB
2,244,153
1,988
Forest
City
Enterprises,
L.P.,
Term
Loan
B
8.135%
1-Month
LIBOR
3.500%
12/07/25
B+
1,853,828
Total
Real
Estate
Management
&
Development
6,928,144
Road
&
Rail
-
1.5%
1,210
First
Student
Bidco
Inc,
Term
Loan
B
7.726%
3-Month
LIBOR
3.000%
7/21/28
BB+
1,156,817
451
First
Student
Bidco
Inc,
Term
Loan
C
7.726%
3-Month
LIBOR
3.000%
7/21/28
BB+
431,133
4,406
Genesee
&
Wyoming
Inc.
(New),
Term
Loan
6.730%
3-Month
LIBOR
2.000%
12/30/26
BB+
4,399,734
20,824
Hertz
Corporation,
(The),
Term
Loan
B
7.890%
1-Month
LIBOR
3.250%
6/30/28
BB+
20,739,827
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Road
&
Rail
(continued)
$
3,982
Hertz
Corporation,
(The),
Term
Loan
C
7.890%
1-Month
LIBOR
3.250%
6/30/28
BB+
$
3,966,004
Total
Road
&
Rail
30,693,515
Semiconductors
&
Semiconductor
Equipment
-
0.3%
3,278
Bright
Bidco
B.V.,
Term
Loan
6.838%
3-Month
LIBOR
+
TSFR3M
4.500%
10/31/27
B
2,895,273
2,150
Entegris,
Inc.,
Term
Loan
B
7.605%
SOFR30A
+
SOFR90A
3.000%
7/06/29
Baa3
2,157,611
165
MACOM
Technology
Solutions
Holdings,
Inc.,
Term
Loan
6.885%
1-Month
LIBOR
2.250%
5/19/24
Ba1
164,720
Total
Semiconductors
&
Semiconductor
Equipment
5,217,604
Software
-
11.3%
1,451
Applied
Systems,
Inc.,
Term
Loan,
First
Lien
9.041%
SOFR90A
4.500%
9/19/26
B2
1,457,607
3,404
AppLovin
Corporation,
Term
Loan
B
8.596%
TSFR3M
+
Prime
2.550%
10/21/28
BB-
3,378,743
918
Apttus
Corporation,
Term
Loan
9.075%
3-Month
LIBOR
4.250%
5/06/28
BB
883,952
3,879
Avaya,
Inc.,
Term
Loan
14.562%
SOFR30A
10.000%
12/15/27
C
989,185
5,223
Avaya,
Inc.,
Term
Loan
(6)
12.761%
SOFR90A
8.000%
8/15/23
N/R
5,431,405
8,682
Banff
Merger
Sub
Inc,
Term
Loan
8.385%
1-Month
LIBOR
3.750%
10/02/25
B2
8,589,406
9,359
Camelot
U.S.
Acquisition
LLC,
Term
Loan
B
7.635%
1-Month
LIBOR
3.000%
10/31/26
B1
9,335,083
3,549
Camelot
U.S.
Acquisition
LLC,
Term
Loan
B
7.635%
1-Month
LIBOR
3.000%
10/31/26
B1
3,541,918
4,044
CCC
Intelligent
Solutions
Inc.,
Term
Loan
B
6.885%
1-Month
LIBOR
2.250%
9/21/28
B+
4,013,819
6,315
CDK
Global,
Inc.,
Term
Loan
B
9.080%
SOFR90A
4.500%
6/09/29
B+
6,304,170
4,988
DTI
Holdco,
Inc.,
Term
Loan
9.426%
SOFR90A
4.750%
4/21/29
B2
4,688,250
1,846
Emerald
TopCo
Inc,
Term
Loan
8.135%
1-Month
LIBOR
3.500%
7/25/26
B2
1,733,742
17,047
Epicor
Software
Corporation,
Term
Loan
7.885%
1-Month
LIBOR
3.250%
7/31/27
B2
16,729,358
28,752
Finastra
USA,
Inc.,
Term
Loan,
First
Lien
8.325%
3-Month
LIBOR
3.500%
6/13/24
B+
27,190,529
11,943
Greeneden
U.S.
Holdings
II,
LLC,
Term
Loan
B4
8.635%
1-Month
LIBOR
4.000%
12/01/27
B2
11,863,444
1,544
Greenway
Health,
LLC,
Term
Loan,
First
Lien
8.480%
3-Month
LIBOR
3.750%
2/16/24
Caa1
1,173,539
990
Hyland
Software,
Inc.,
Term
Loan,
First
Lien
8.135%
1-Month
LIBOR
3.500%
7/01/24
B1
988,483
2,362
IGT
Holding
IV
AB,
Term
Loan
B2
8.380%
3-Month
LIBOR
3.650%
3/29/28
B
2,339,892
6,823
Informatica
LLC,
Term
Loan
B
7.438%
1-Month
LIBOR
2.750%
10/14/28
BB-
6,819,901
3,801
Instructure
Holdings,
Inc.,
Term
Loan
B
7.852%
3-Month
LIBOR
2.750%
10/29/28
BB+
3,790,194
797
iQor
US
Inc.,
Second
Out
Term
Loan
12.135%
1-Month
LIBOR
7.500%
11/19/25
CCC+
577,518
16,197
McAfee,
LLC,
Term
Loan
B
8.418%
SOFR30A
3.750%
2/03/29
BB+
15,219,464
16,014
NortonLifeLock
Inc.,
Term
Loan
B
6.718%
SOFR30A
2.000%
1/28/29
BBB-
15,869,108
24,950
Open
Text
Corp,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
BBB-
24,948,129
699
Polaris
Newco
LLC,
Term
Loan
B
8.730%
3-Month
LIBOR
4.000%
6/04/28
B2
648,355
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Software
(continued)
$
393
Project
Ruby
Ultimate
Parent
Corp.,
Term
Loan
7.885%
1-Month
LIBOR
3.250%
3/10/28
B
$
382,874
–
(7)
RealPage,
Inc,
Term
Loan,
First
Lien
7.635%
1-Month
LIBOR
3.000%
4/22/28
B+
133
9,078
Sophia,
L.P.,
Term
Loan
B
8.230%
3-Month
LIBOR
3.500%
10/07/27
B2
8,955,095
836
SS&C
European
Holdings
Sarl,
Term
Loan
B4
6.385%
1-Month
LIBOR
1.750%
4/16/25
BB+
835,709
943
SS&C
Technologies
Inc.,
Term
Loan
B3
6.385%
1-Month
LIBOR
1.750%
4/16/25
BB+
942,406
4,856
SS&C
Technologies
Inc.,
Term
Loan
B5
6.385%
1-Month
LIBOR
1.750%
4/16/25
BB+
4,854,162
2,115
SS&C
Technologies
Inc.,
Term
Loan
B6
6.968%
SOFR30A
2.250%
3/22/29
BB+
2,114,379
3,187
SS&C
Technologies
Inc.,
Term
Loan
B7
6.968%
SOFR30A
2.250%
3/22/29
BB+
3,185,883
13,130
Ultimate
Software
Group
Inc
(The),
Term
Loan
8.032%
3-Month
LIBOR
3.250%
5/03/26
B1
12,891,657
4,964
Ultimate
Software
Group
Inc
(The),
Term
Loan
B
8.575%
3-Month
LIBOR
3.750%
5/03/26
B1
4,907,355
1,065
Ultimate
Software
Group
Inc
(The),
Term
Loan,
Second
Lien
10.032%
3-Month
LIBOR
5.250%
5/03/27
Caa1
1,040,814
3,555
Vision
Solutions,
Inc.,
Term
Loan
8.818%
3-Month
LIBOR
4.000%
5/28/28
B2
3,247,564
3,917
Zelis
Healthcare
Corporation,
Term
Loan
8.135%
1-Month
LIBOR
3.500%
9/30/26
B
3,905,791
Total
Software
225,769,016
Specialty
Retail
-
2.8%
828
Academy,
Ltd.,
Term
Loan
8.316%
1-Month
LIBOR
3.750%
11/06/27
BB
829,239
9,342
Avis
Budget
Car
Rental,
LLC,
Term
Loan
B
6.390%
1-Month
LIBOR
1.750%
8/06/27
BB+
9,207,524
8,624
Avis
Budget
Car
Rental,
LLC,
Term
Loan
C
8.218%
SOFR30A
3.500%
3/15/29
BB+
8,627,392
4,086
Driven
Holdings,
LLC,
Term
Loan
B
7.738%
3-Month
LIBOR
3.000%
12/17/28
B3
4,008,293
3,705
Jo-Ann
Stores,
Inc.,
Term
Loan
B1
9.572%
3-Month
LIBOR
4.750%
6/30/28
CCC+
2,121,370
1,859
LBM
Acquisition
LLC,
Term
Loan
B
8.985%
6-Month
LIBOR
3.750%
12/18/27
B+
1,705,324
1,362
Les
Schwab
Tire
Centers,
Term
Loan
B
8.064%
3-Month
LIBOR
3.250%
11/02/27
B
1,348,050
19,779
PetSmart,
Inc.,
Term
Loan
B
8.468%
TSFR1M
3.750%
2/12/28
BB
19,752,149
558
Restoration
Hardware,
Inc.,
Term
Loan
B
7.135%
1-Month
LIBOR
2.500%
10/15/28
BB
537,277
648
Staples,
Inc.,
Term
Loan
9.814%
3-Month
LIBOR
5.000%
4/12/26
B
602,446
4,488
Staples,
Inc.,
Term
Loan
B2
9.314%
3-Month
LIBOR
4.500%
9/12/24
B
4,475,546
2,482
Wand
NewCo
3,
Inc.,
Term
Loan
7.635%
1-Month
LIBOR
3.000%
2/05/26
B2
2,397,078
Total
Specialty
Retail
55,611,688
Technology
Hardware,
Storage
&
Peripherals
-
0.4%
7,249
NCR
Corporation,
Term
Loan
7.330%
3-Month
LIBOR
2.500%
8/28/26
BB+
7,206,534
Total
Technology
Hardware,
Storage
&
Peripherals
7,206,534
Textiles,
Apparel
&
Luxury
Goods
-
0.7%
4,741
Birkenstock
GmbH
&
Co.
KG,
Term
Loan
B
8.064%
3-Month
LIBOR
3.250%
4/28/28
BB-
4,714,071
9,091
Crocs
Inc,
Term
Loan
B
8.050%
SOFR90A
3.750%
2/19/29
Ba2
9,080,982
Total
Textiles,
Apparel
&
Luxury
Goods
13,795,053
Principal
Amount
(000)
Description
(1)
Coupon
(2)
Reference
Rate
(2)
Spread
(2)
Maturity
(3)
Ratings
(4)
Value
Trading
Companies
&
Distributors
-
0.3%
$
4,373
Core
&
Main
LP,
Term
Loan
B
7.407%
1
+
6
Month
LIBOR
2.500%
6/10/28
B+
$
4,365,271
2,116
Fly
Funding
II
S.a.r.l.,
Term
Loan
B
6.600%
3-Month
LIBOR
1.750%
8/09/25
B3
1,879,299
Total
Trading
Companies
&
Distributors
6,244,570
Transportation
Infrastructure
-
0.6%
3,934
Brown
Group
Holding,
LLC,
Term
Loan
B
7.135%
1-Month
LIBOR
2.500%
4/22/28
B+
3,909,282
2,893
Brown
Group
Holding,
LLC,
Term
Loan
B2
8.397%
SOFR30A
+
SOFR90A
3.750%
6/09/29
B+
2,896,973
5,193
KKR
Apple
Bidco,
LLC,
Term
Loan
7.385%
1-Month
LIBOR
2.750%
9/23/28
B+
5,168,717
720
KKR
Apple
Bidco,
LLC,
Term
Loan
8.618%
SOFR30A
4.000%
9/23/28
B+
721,649
Total
Transportation
Infrastructure
12,696,621
Wireless
Telecommunication
Services
-
1.1%
3,199
GOGO
Intermediate
Holdings
LLC,
Term
Loan
B
8.575%
3-Month
LIBOR
3.750%
4/30/28
B+
3,188,024
13,623
Intelsat
Jackson
Holdings
S.A.,
Term
Loan
B
9.182%
SOFR90A
4.250%
1/27/29
BB-
13,489,687
4,652
Iridium
Satellite
LLC,
Term
Loan
B2
7.218%
TSFR1M
2.500%
11/04/26
Ba3
4,653,962
Total
Wireless
Telecommunication
Services
21,331,673
Total
Variable
Rate
Senior
Loan
Interests
(cost
$1,702,560,995)
1,652,197,635
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(4)
Value
X
295,870,344
CORPORATE
BONDS
-
14.8%
X
295,870,344
Airlines
-
1.4%
$
3,287
Air
Canada,
144A
3.875%
8/15/26
Ba2
$
2,961,035
20,000
American
Airlines
Inc,
144A
11.750%
7/15/25
Ba3
21,935,600
1,500
United
Airlines
Inc,
144A
4.625%
4/15/29
Ba1
1,329,804
1,000
United
Airlines
Inc,
144A
4.375%
4/15/26
Ba1
941,180
Total
Airlines
27,167,619
Auto
Components
-
0.0%
1,050
Dana
Financing
Luxembourg
Sarl,
144A
5.750%
4/15/25
BB+
1,023,957
Total
Auto
Components
1,023,957
Automobiles
-
0.1%
2,500
Ford
Motor
Credit
Co
LLC
5.584%
3/18/24
BB+
2,482,500
Total
Automobiles
2,482,500
Chemicals
-
0.9%
11,425
Celanese
US
Holdings
LLC
5.900%
7/05/24
BBB-
11,411,894
1,425
Rayonier
AM
Products
Inc,
144A
7.625%
1/15/26
B+
1,340,668
5,130
Trinseo
Materials
Operating
SCA
/
Trinseo
Materials
Finance
Inc,
144A
5.375%
9/01/25
B2
4,484,762
Total
Chemicals
17,237,324
Commercial
Services
&
Supplies
-
1.4%
12,800
GFL
Environmental
Inc,
144A
5.125%
12/15/26
BB-
12,254,461
5,000
Prime
Security
Services
Borrower
LLC
/
Prime
Finance
Inc,
144A
5.250%
4/15/24
BB-
4,925,000
11,655
Prime
Security
Services
Borrower
LLC
/
Prime
Finance
Inc,
144A
5.750%
4/15/26
BB-
11,261,644
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(4)
Value
Commercial
Services
&
Supplies
(continued)
$
250
Prime
Security
Services
Borrower
LLC
/
Prime
Finance
Inc,
144A
(8)
6.250%
1/15/28
B-
$
231,900
Total
Commercial
Services
&
Supplies
28,673,005
Communications
Equipment
-
0.6%
14,283
Avaya
Inc,
144A
(5),(9)
6.125%
9/15/28
C
3,820,702
3,500
Commscope
Inc,
144A
6.000%
3/01/26
B1
3,372,469
1,000
Commscope
Inc,
144A
7.125%
7/01/28
CCC+
787,830
1,000
Commscope
Inc,
144A
(8)
8.250%
3/01/27
CCC+
850,000
1,000
CommScope
Technologies
LLC,
144A
6.000%
6/15/25
CCC+
958,368
2,000
Viasat
Inc,
144A
5.625%
9/15/25
BB-
1,851,900
Total
Communications
Equipment
11,641,269
Containers
&
Packaging
-
0.1%
3,000
Owens-Brockway
Glass
Container
Inc,
144A
5.375%
1/15/25
B+
2,915,319
Total
Containers
&
Packaging
2,915,319
Diversified
Telecommunication
Services
-
0.5%
9,784
Frontier
Communications
Holdings
LLC,
144A
5.875%
10/15/27
BB+
9,090,314
1,000
Frontier
Communications
Holdings
LLC
5.875%
11/01/29
CCC+
800,740
Total
Diversified
Telecommunication
Services
9,891,054
Electric
Utilities
-
1.4%
5,340
Bruce
Mansfield
Unit
1
2007
Pass
Through
Trust
(5)
6.850%
6/01/34
N/R
6,675
496
Pacific
Gas
and
Electric
Co
3.150%
1/01/26
BBB-
460,761
497
Pacific
Gas
and
Electric
Co
4.500%
7/01/40
BBB-
389,111
2,602
PG&E
Corp
(8)
5.000%
7/01/28
BB
2,375,756
4,725
Talen
Energy
Supply
LLC,
144A
(5)
6.625%
1/15/28
N/R
4,795,875
19,000
Talen
Energy
Supply
LLC,
144A
(5)
7.250%
5/15/27
N/R
19,512,607
Total
Electric
Utilities
27,540,785
Electronic
Equipment,
Instruments
&
Components
-
0.1%
2,000
Brightstar
Corp,
144A
9.750%
10/15/25
B-
1,873,089
Total
Electronic
Equipment,
Instruments
&
Components
1,873,089
Energy
Equipment
&
Services
-
0.2%
2,000
Transocean
Inc,
144A
11.500%
1/30/27
CCC+
2,055,000
1,000
Weatherford
International
Ltd,
144A
(8)
8.625%
4/30/30
B
998,650
Total
Energy
Equipment
&
Services
3,053,650
Entertainment
-
0.0%
1,000
AMC
Entertainment
Holdings
Inc,
144A
(cash
10.000%,
PIK
12.000%)
10.000%
6/15/26
CCC-
515,320
2,000
Diamond
Sports
Group
LLC
/
Diamond
Sports
Finance
Co,
144A
6.625%
8/15/27
Ca
52,500
1,955
Diamond
Sports
Group
LLC
/
Diamond
Sports
Finance
Co,
144A
5.375%
8/15/26
Caa2
219,351
Total
Entertainment
787,171
Equity
Real
Estate
Investment
Trusts
-
0.1%
3,000
RLJ
Lodging
Trust
LP,
144A
3.750%
7/01/26
BB-
2,714,377
Total
Equity
Real
Estate
Investment
Trusts
2,714,377
Food
&
Staples
Retailing
-
0.4%
8,000
US
Foods
Inc,
144A
6.250%
4/15/25
BB
7,970,753
Total
Food
&
Staples
Retailing
7,970,753
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(4)
Value
Health
Care
Providers
&
Services
-
2.3%
$
585
CHS/Community
Health
Systems
Inc,
144A
8.000%
3/15/26
BB-
$
570,375
250
CHS/Community
Health
Systems
Inc,
144A
6.000%
1/15/29
BB-
215,909
2,000
Global
Medical
Response
Inc,
144A
6.500%
10/01/25
B-
1,500,000
1,000
HCA
Inc
5.000%
3/15/24
BBB-
993,374
4,901
HCA
Inc
5.375%
2/01/25
BBB-
4,854,842
5,000
Select
Medical
Corp,
144A
6.250%
8/15/26
B-
4,775,000
2,500
Tenet
Healthcare
Corp
4.625%
6/15/28
BB-
2,261,922
17,000
Tenet
Healthcare
Corp
4.625%
9/01/24
BB-
16,741,438
14,250
Tenet
Healthcare
Corp
4.875%
1/01/26
BB-
13,571,509
412
Tenet
Healthcare
Corp
4.625%
7/15/24
BB-
405,305
500
Tenet
Healthcare
Corp
(8)
6.125%
10/01/28
B+
462,500
Total
Health
Care
Providers
&
Services
46,352,174
Hotels,
Restaurants
&
Leisure
-
1.5%
1,250
1011778
BC
ULC
/
New
Red
Finance
Inc,
144A
4.000%
10/15/30
B+
1,032,400
17,230
Caesars
Entertainment
Inc,
144A
6.250%
7/01/25
Ba3
17,086,712
3,000
Carnival
Corp,
144A
(8)
10.500%
2/01/26
BB-
3,104,933
5,500
Life
Time
Inc,
144A
5.750%
1/15/26
B+
5,269,275
2,000
MGM
Resorts
International
6.750%
5/01/25
B+
2,004,938
1,500
Scientific
Games
International
Inc,
144A
8.625%
7/01/25
BB
1,533,428
Total
Hotels,
Restaurants
&
Leisure
30,031,686
Independent
Power
Producers
&
Energy
Traders
-
0.6%
6,500
Talen
Energy
Supply
LLC,
144A
(5)
7.625%
6/01/28
N/R
6,716,600
5,000
Ziggo
Bond
Co
BV,
144A
6.000%
1/15/27
B-
4,625,000
Total
Independent
Power
Producers
&
Energy
Traders
11,341,600
Insurance
-
0.1%
2,100
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-
Issuer,
144A
4.250%
10/15/27
B
1,853,748
Total
Insurance
1,853,748
Media
-
1.1%
2,900
Clear
Channel
Outdoor
Holdings
Inc,
144A
5.125%
8/15/27
B1
2,588,250
3,730
CSC
Holdings
LLC,
144A
(8)
3.375%
2/15/31
B+
2,558,034
4,008
iHeartCommunications
Inc
6.375%
5/01/26
BB-
3,777,255
4,000
iHeartCommunications
Inc,
144A
5.250%
8/15/27
BB-
3,480,883
3,900
LCPR
Senior
Secured
Financing
DAC,
144A
5.125%
7/15/29
BB+
3,297,206
6,000
McGraw-Hill
Education
Inc,
144A
5.750%
8/01/28
BB+
5,254,845
500
Outfront
Media
Capital
LLC
/
Outfront
Media
Capital
Corp,
144A
5.000%
8/15/27
B+
451,250
Total
Media
21,407,723
Oil,
Gas
&
Consumable
Fuels
-
1.2%
2,500
Calumet
Specialty
Products
Partners
LP
/
Calumet
Finance
Corp,
144A
8.125%
1/15/27
B-
2,445,100
972
Calumet
Specialty
Products
Partners
LP
/
Calumet
Finance
Corp,
144A
9.250%
7/15/24
B+
984,080
1,500
Citgo
Holding
Inc,
144A
9.250%
8/01/24
B+
1,503,460
6,500
Citgo
Petroleum
Corp,
144A
7.000%
6/15/25
BB
6,398,470
3,000
EQM
Midstream
Partners
LP
(8)
4.750%
7/15/23
BB
2,956,183
500
Gulfport
Energy
Corp,
144A
8.000%
5/17/26
BB-
485,940
4,000
Matador
Resources
Co
5.875%
9/15/26
BB-
3,856,828
1,000
NGL
Energy
Operating
LLC
/
NGL
Energy
Finance
Corp,
144A
7.500%
2/01/26
B
954,917
250
NGL
Energy
Partners
LP
/
NGL
Energy
Finance
Corp
6.125%
3/01/25
Caa2
230,660
250
NGL
Energy
Partners
LP
/
NGL
Energy
Finance
Corp
(8)
7.500%
11/01/23
Caa2
250,240
3,307
PBF
Holding
Co
LLC
/
PBF
Finance
Corp
7.250%
6/15/25
BB
3,299,824
Total
Oil,
Gas
&
Consumable
Fuels
23,365,702
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(4)
Value
Pharmaceuticals
-
0.1%
$
3,000
ORGANON
&
CO/ORG,
144A
5.125%
4/30/31
BB-
$
2,546,250
Total
Pharmaceuticals
2,546,250
Specialty
Retail
-
0.6%
10,650
Hertz
Corp/The,
144A
4.625%
12/01/26
B+
9,484,221
3,000
Michaels
Cos
Inc/The,
144A
5.250%
5/01/28
B1
2,496,690
Total
Specialty
Retail
11,980,911
Wireless
Telecommunication
Services
-
0.1%
2,000
Sprint
LLC
7.875%
9/15/23
Baa3
2,018,678
Total
Wireless
Telecommunication
Services
2,018,678
Total
Corporate
Bonds
(cost
$316,545,239)
295,870,344
Shares
Description
(1)
Value
X
25,208,645
COMMON
STOCKS
-
1.3%
X
25,208,645
Banks
-
0.0%
28,137
iQor
US
Inc
(10)
$
7,034
Total
Banks
7,034
Communications
Equipment
-
0.0%
24,672
Windstream
Services
PE
LLC
(10)
263,176
Total
Communications
Equipment
263,176
Construction
&
Engineering
-
0.0%
2,687
TNT
Crane
&
Rigging
Inc
(10)
17,466
4,761
TNT
Crane
&
Rigging
Inc
(10)
714
Total
Construction
&
Engineering
18,180
Diversified
Consumer
Services
-
0.0%
17,726
Cengage
Learning
Holdings
II
Inc
(10)
194,986
Total
Diversified
Consumer
Services
194,986
Diversified
Telecommunication
Services
-
0.0%
18,781
Windstream
Services
PE
LLC
(10)
200,337
Total
Diversified
Telecommunication
Services
200,337
Energy
Equipment
&
Services
-
0.6%
85,364
Quarternorth
Energy
Holding
Inc
(10)
11,723,294
76,990
Transocean
Ltd
(10)
538,160
5,884
Vantage
Drilling
International
(10)
89,731
Total
Energy
Equipment
&
Services
12,351,185
Health
Care
Equipment
&
Supplies
-
0.1%
52,393
Onex
Carestream
Finance
LP
(10)
785,895
Total
Health
Care
Equipment
&
Supplies
785,895
Health
Care
Providers
&
Services
-
0.0%
61,430
Millennium
Health
LLC
(9),(10)
8,784
57,666
Millennium
Health
LLC
(9),(10)
2,480
Total
Health
Care
Providers
&
Services
11,264
Hotels,
Restaurants
&
Leisure
-
0.0%
159,883
24
Hour
Fitness
Worldwide
Inc
(10)
800
76,044
24
Hour
Fitness
Worldwide
Inc
(10)
380
Total
Hotels,
Restaurants
&
Leisure
1,180
Shares
Description
(1)
Value
Independent
Power
and
Renewable
Electricity
Producers
-
0.5%
115,290
Energy
Harbor
Corp
(10),(11)
$
8,829,254
Total
Independent
Power
and
Renewable
Electricity
Producers
8,829,254
Internet
&
Direct
Marketing
Retail
-
0.0%
7,503
Catalina
Marketing
Corp
(10)
1,876
Total
Internet
&
Direct
Marketing
Retail
1,876
Marine
-
0.0%
1,018
ACBL
HLDG
CORP
(10)
26,977
Total
Marine
26,977
Media
-
0.0%
7
Cumulus
Media
Inc,
Class
A
(10)
38
Total
Media
38
Multiline
Retail
-
0.0%
99
Belk
Inc
(10)
841
Total
Multiline
Retail
841
Oil,
Gas
&
Consumable
Fuels
-
0.0%
8,735
California
Resources
Corp
368,617
2,246
Chord
Energy
Corp
302,357
Total
Oil,
Gas
&
Consumable
Fuels
670,974
Professional
Services
-
0.0%
109,621
Skillsoft
Corp
(8),(10)
171,009
Total
Professional
Services
171,009
Semiconductors
&
Semiconductor
Equipment
-
0.1%
63,592
Bright
Bidco
BV
(9),(10)
890,794
46,554
TNT
Crane
and
Rigging
Inc
(10)
783,645
Total
Semiconductors
&
Semiconductor
Equipment
1,674,439
Total
Common
Stocks
(cost
$26,757,611)
25,208,645
Shares
Description
(1)
Value
X
16,270,891
EXCHANGE-TRADED
FUNDS
-
0.8%
X
16,270,891
552,693
Invesco
Senior
Loan
ETF
(8)
$
11,578,919
112,275
SPDR
Blackstone
Senior
Loan
ETF
4,691,972
Total
Exchange-Traded
Funds
(cost
$17,301,298)
16,270,891
Shares
Description
(1)
Value
8,455,812
WARRANTS
-
0.4%
X
8,455,812
Energy
Equipment
&
Services
-
0.4%
55,057
Quarternorth
Energy
Holding
Inc
$
7,561,143
28,708
Quarternorth
Energy
Holding
Inc
258,372
55,290
Quarternorth
Energy
Holding
Inc
387,030
Total
Energy
Equipment
&
Services
8,206,545
Entertainment
-
0.0%
90,106
Cineworld
Warrant
–
Total
Entertainment
–
Marine
-
0.0%
3,984
ACBL
HLDG
CORP
77,688
3,029
ACBL
HLDG
CORP
115,102
1,071
ACBL
HLDG
CORP
28,381
43,824
American
Commercial
Barge
Line
LLC
10,956
Nuveen
Floating
Rate
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Shares
Description
(1)
Value
Marine
(continued)
33,319
American
Commercial
Barge
Line
LLC
$
11,662
Total
Marine
243,789
Oil,
Gas
&
Consumable
Fuels
-
0.0%
500
California
Resources
Corp
5,475
Total
Oil,
Gas
&
Consumable
Fuels
5,475
Wireless
Telecommunication
Services
-
0.0%
4
Intelsat
SA/Luxembourg
3
Total
Wireless
Telecommunication
Services
3
Total
Warrants
(cost
$1,167,065)
8,455,812
Shares
Description
(1)
Coupon
Ratings
(4)
Value
X
238,064
CONVERTIBLE
PREFERRED
SECURITIES
-
0.0%
X
238,064
Communications
Equipment
-
0.0%
28,482
Riverbed
Technology
Inc
0.000%
N/R
$
285
Total
Communications
Equipment
285
Marine
-
0.0%
4,313
ACBL
HLDG
CORP
0.000%
N/R
163,894
3,789
ACBL
HLDG
CORP
0.000%
N/R
73,885
Total
Marine
237,779
Total
Convertible
Preferred
Securities
(cost
$822,217)
238,064
Total
Long-Term
Investments
(cost
$2,065,154,425)
1,998,241,391
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
0.5%
9,897,813
MONEY
MARKET
FUNDS
-
0.5%
X
9,897,813
9,897,813
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(12)
4.600%(13)
$
9,897,813
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$9,897,813)
9,897,813
Shares
Description
(1)
Coupon
Value
SHORT-TERM
INVESTMENTS
-
0.1%
1,721,278
INVESTMENT
COMPANIES
-
0.1%
1,721,278
1,721,278
BlackRock
Liquidity
Funds
T-Fund
3.580%(14)
$
1,721,278
Total
Investment
Companies
(cost
$1,721,278)
1,721,278
Total
Short-Term
Investments
(cost
$1,721,278)
1,721,278
Total
Investments
(cost
$
2,076,773,516
)
-
100
.4
%
2,009,860,482
Other
Assets
&
Liabilities,
Net
- (0.4)%
(
7,879,275
)
Net
Assets
-
100%
$
2,001,981,207
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.
(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)
Investment,
or
portion
of
investment,
represents
an
outstanding
unfunded
senior
loan
commitment.
(7)
Principal
Amount
(000)
rounds
to
less
than
$1,000.
(8)
Investment,
or
a
portion
of
investment,
is
out
on
loan
for
securities
lending.
The
total
value
of
the
securities
out
on
loan
as
of
the
end
of
the
reporting
period
was
$9,578,890.
(9)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(10)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(11)
Energy
Harbor
Corp
(ENGH)
common
stock
received
as
part
of
the
bankruptcy
settlements
during
February
2020
for
Bruce
Mansfield
Unit
1
2007
Pass-Through
Trust.
Various
funds
and
accounts
managed
by
Nuveen,
including
the
Fund,
collectively
are
a
substantial
minority
holder
of
ENGH’s
outstanding
shares
of
common
stock,
and
possess
certain
other
rights
with
respect
to
the
corporate
governance
of
ENGH.
Due
to
these
facts,
under
the
federal
securities
laws,
the
securities
of
ENGH
held
by
Nuveen
funds
and
accounts,
including
the
Fund,
cannot
be
sold
except
under
limited
conditions
(which
are
not
currently
satisfied)
and
are
effectively
illiquid.
The
Fund
is
therefore
unable
to
sell
such
shares
in
ordinary
secondary
market
transactions
at
this
time.
On
March
6,
2023
Vistra
Corp.
(“Vistra”)
announced
that
it
has
executed
a
definitive
agreement
with
Energy
Harbor
Corp.,
pursuant
to
which
Energy
Harbor
will
merge
with
and
into
a
newly-formed
subsidiary
of
Vistra. The
companies
anticipate
closing
the
transaction
in
the
second
half
of
2023. In
connection
with
the
transaction,
Nuveen
funds
and
accounts
expect
to
receive
a
combination
of
cash
and
shares
in
a
newly
formed
entity.
The
transaction
is
subject
to
certain
regulatory
approvals
and
there
can
be
no
assurance
that
the
transaction
will
close.
(12)
The
Fund
may
loan
securities
representing
up
to
one
third
of
the
market
value
of
its
total
assets
(which
includes
collateral
for
securities
on
loan)
to
broker
dealers,
banks,
and
other
institutions.
The
collateral
maintained
by
the
Fund
shall
have
a
market
value,
at
the
inception
of
each
loan,
equal
to
not
less
than
100%
of
the
market
value
of
the
loaned
securities.
The
cash
collateral
received
by
the
Fund
is
invested
in
this
money
market
fund.
(13)
The
rate
shown
is
the
one-day
yield
as
of
the
end
of
the
reporting
period.
(14)
The
rate
shown
is
the
annualized
seven-day
subsidized
yield
as
of
end
of
the
reporting
period.
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.
ETF
Exchange-Traded
Fund
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.
SOFR
180A
180
Day
Average
Secured
Overnight
Financing
Rate
SOFR
30A
30
Day
Average
Secured
Overnight
Financing
Rate
SOFR
90A
90
Day
Average
Secured
Overnight
Financing
Rate
SPDR
Standard
&
Poor's
Depositary
Receipt
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.
TSFR
1M
CME
Term
SOFR
1
Month
TSFR
3M
CME
Term
SOFR
3
Month
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
Nuveen
High
Yield
Income
Fund
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
LONG-TERM
INVESTMENTS
-
98.3%
X
385,026,320
CORPORATE
BONDS
-
79.8%
X
385,026,320
Aerospace
&
Defense
-
1.7%
$
2,100
Bombardier
Inc,
144A
6.000%
2/15/28
B-
$
1,967,574
2,665
Bombardier
Inc,
144A
7.500%
2/01/29
B-
2,611,814
3,670
TransDigm
Inc,
144A
6.750%
8/15/28
Ba3
3,651,650
Total
Aerospace
&
Defense
8,231,038
Air
Freight
&
Logistics
-
0.4%
2,475
Cargo
Aircraft
Management
Inc,
144A
4.750%
2/01/28
BB
2,148,696
Total
Air
Freight
&
Logistics
2,148,696
Airlines
-
1.7%
2,095
Allegiant
Travel
Co,
144A
7.250%
8/15/27
BB+
2,058,337
1,670
American
Airlines
Inc,
144A
7.250%
2/15/28
Ba3
1,630,922
3,000
American
Airlines
Inc,
144A
11.750%
7/15/25
Ba3
3,290,340
1,250
United
Airlines
Inc,
144A
4.625%
4/15/29
Ba1
1,108,170
Total
Airlines
8,087,769
Auto
Components
-
1.7%
3,000
Dana
Inc
4.500%
2/15/32
BB+
2,391,090
2,850
Goodyear
Tire
&
Rubber
Co/The
(3)
5.000%
7/15/29
BB-
2,479,500
3,500
IHO
Verwaltungs
GmbH,
144A
(cash
4.750%,
PIK
5.500%)
4.750%
9/15/26
Ba2
3,226,202
Total
Auto
Components
8,096,792
Automobiles
-
1.6%
3,250
Ford
Motor
Credit
Co
LLC
7.350%
3/06/30
BB+
3,291,145
4,200
Ford
Motor
Credit
Co
LLC
(SOFR
reference
rate
+
2.950%
spread)
(4)
7.250%
3/06/26
BB+
4,248,487
Total
Automobiles
7,539,632
Beverages
-
0.6%
3,175
Primo
Water
Holdings
Inc,
144A
4.375%
4/30/29
B1
2,719,324
Total
Beverages
2,719,324
Building
Products
-
0.5%
1,200
Advanced
Drainage
Systems
Inc,
144A
6.375%
6/15/30
Ba2
1,146,044
1,150
Advanced
Drainage
Systems
Inc,
144A
5.000%
9/30/27
Ba2
1,069,845
Total
Building
Products
2,215,889
Capital
Markets
-
3.2%
2,000
AG
TTMT
Escrow
Issuer
LLC,
144A
8.625%
9/30/27
B2
2,024,633
2,625
Compass
Group
Diversified
Holdings
LLC,
144A
5.250%
4/15/29
B+
2,288,036
3,000
Hunt
Cos
Inc,
144A
5.250%
4/15/29
BB-
2,398,065
4,625
Icahn
Enterprises
LP
/
Icahn
Enterprises
Finance
Corp
4.375%
2/01/29
BB
3,994,624
1,800
LPL
Holdings
Inc,
144A
4.000%
3/15/29
Baa3
1,583,657
3,565
NFP
Corp,
144A
6.875%
8/15/28
CCC+
3,035,954
Total
Capital
Markets
15,324,969
Chemicals
-
4.5%
1,920
ASP
Unifrax
Holdings
Inc,
144A
5.250%
9/30/28
BB
1,489,380
1,390
Avient
Corp,
144A
7.125%
8/01/30
BB-
1,393,475
3,250
Celanese
US
Holdings
LLC
6.330%
7/15/29
BBB-
3,187,950
2,680
EverArc
Escrow
Sarl,
144A
5.000%
10/30/29
B+
2,132,101
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Chemicals
(continued)
$
1,910
INEOS
Finance
PLC,
144A
(3)
6.750%
5/15/28
BBB-
$
1,864,848
3,500
Olympus
Water
US
Holding
Corp,
144A
4.250%
10/01/28
B2
2,921,323
4,300
Trinseo
Materials
Operating
SCA
/
Trinseo
Materials
Finance
Inc,
144A
5.375%
9/01/25
B2
3,759,157
2,445
Tronox
Inc,
144A
4.625%
3/15/29
BB-
1,992,675
2,855
WR
Grace
Holdings
LLC,
144A
7.375%
3/01/31
BB+
2,834,244
Total
Chemicals
21,575,153
Commercial
Services
&
Supplies
-
2.9%
5,000
Allied
Universal
Holdco
LLC
/
Allied
Universal
Finance
Corp,
144A
6.625%
7/15/26
B
4,748,800
1,250
Covanta
Holding
Corp,
144A
4.875%
12/01/29
B
1,055,821
1,500
Garda
World
Security
Corp,
144A
4.625%
2/15/27
BB+
1,328,499
1,125
Garda
World
Security
Corp,
144A
7.750%
2/15/28
BB+
1,104,058
6,500
Prime
Security
Services
Borrower
LLC
/
Prime
Finance
Inc,
144A
6.250%
1/15/28
B-
6,029,401
Total
Commercial
Services
&
Supplies
14,266,579
Communications
Equipment
-
1.4%
3,350
CommScope
Technologies
LLC,
144A
6.000%
6/15/25
CCC+
3,210,531
3,800
Viasat
Inc,
144A
5.625%
9/15/25
BB-
3,518,610
Total
Communications
Equipment
6,729,141
Construction
Materials
-
0.4%
1,800
Gates
Global
LLC
/
Gates
Corp,
144A
6.250%
1/15/26
B
1,758,762
Total
Construction
Materials
1,758,762
Consumer
Finance
-
1.3%
1,975
Navient
Corp
5.500%
3/15/29
Ba3
1,671,168
3,000
Navient
Corp
4.875%
3/15/28
Ba3
2,550,420
2,850
OneMain
Finance
Corp
4.000%
9/15/30
BB
2,176,794
Total
Consumer
Finance
6,398,382
Containers
&
Packaging
-
0.9%
2,230
Mauser
Packaging
Solutions
Holding
Co,
144A
7.875%
8/15/26
B
2,243,938
2,000
Owens-Brockway
Glass
Container
Inc,
144A
(3)
6.625%
5/13/27
B+
1,945,000
Total
Containers
&
Packaging
4,188,938
Diversified
Telecommunication
Services
-
2.6%
2,000
Altice
France
SA/France,
144A
8.125%
2/01/27
B
1,870,000
3,500
Cablevision
Lightpath
LLC,
144A
3.875%
9/15/27
B1
2,853,062
2,500
Frontier
Communications
Holdings
LLC,
144A
(3)
6.000%
1/15/30
BB-
1,996,875
2,770
Iliad
Holding
SASU,
144A
6.500%
10/15/26
BB-
2,589,064
3,750
Virgin
Media
Finance
PLC,
144A
5.000%
7/15/30
B
3,056,250
Total
Diversified
Telecommunication
Services
12,365,251
Electric
Utilities
-
0.0%
1,800
Bruce
Mansfield
Unit
1
2007
Pass
Through
Trust
(5)
6.850%
6/01/34
N/R
2,250
Total
Electric
Utilities
2,250
Electrical
Equipment
-
0.4%
825
Regal
Rexnord
Corp,
144A
6.400%
4/15/33
Baa3
811,776
1,000
Regal
Rexnord
Corp,
144A
6.300%
2/15/30
Baa3
978,383
Total
Electrical
Equipment
1,790,159
Electronic
Equipment,
Instruments
&
Components
-
0.4%
2,350
Imola
Merger
Corp,
144A
4.750%
5/15/29
BB+
1,998,722
Total
Electronic
Equipment,
Instruments
&
Components
1,998,722
Nuveen
High
Yield
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Energy
Equipment
&
Services
-
2.1%
$
3,950
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp,
144A
6.250%
4/01/28
B+
$
3,749,656
1,500
Transocean
Inc,
144A
11.500%
1/30/27
CCC+
1,541,250
3,000
Transocean
Titan
Financing
Ltd,
144A
8.375%
2/01/28
B2
3,062,100
1,800
USA
Compression
Partners
LP
/
USA
Compression
Finance
Corp
6.875%
4/01/26
BB-
1,725,102
Total
Energy
Equipment
&
Services
10,078,108
Entertainment
-
0.3%
2,000
Univision
Communications
Inc,
144A
4.500%
5/01/29
B+
1,686,875
Total
Entertainment
1,686,875
Equity
Real
Estate
Investment
Trusts
-
1.6%
1,815
Iron
Mountain
Information
Management
Services
Inc,
144A
5.000%
7/15/32
BB-
1,496,903
2,250
MPT
Operating
Partnership
LP
/
MPT
Finance
Corp
(3)
5.000%
10/15/27
BBB-
1,846,108
1,755
RLJ
Lodging
Trust
LP,
144A
4.000%
9/15/29
BB-
1,446,445
1,090
RLJ
Lodging
Trust
LP,
144A
3.750%
7/01/26
BB-
986,224
2,000
Uniti
Group
LP
/
Uniti
Group
Finance
Inc
/
CSL
Capital
LLC,
144A
10.500%
2/15/28
BB+
2,000,400
Total
Equity
Real
Estate
Investment
Trusts
7,776,080
Food
&
Staples
Retailing
-
1.1%
1,555
Albertsons
Cos
Inc
/
Safeway
Inc
/
New
Albertsons
LP
/
Albertsons
LLC,
144A
5.875%
2/15/28
BB
1,505,100
3,785
Albertsons
Cos
Inc
/
Safeway
Inc
/
New
Albertsons
LP
/
Albertsons
LLC,
144A
6.500%
2/15/28
BB
3,763,615
Total
Food
&
Staples
Retailing
5,268,715
Gas
Utilities
-
0.9%
2,650
Ferrellgas
LP
/
Ferrellgas
Finance
Corp,
144A
5.875%
4/01/29
B
2,163,062
2,425
Ferrellgas
LP
/
Ferrellgas
Finance
Corp,
144A
5.375%
4/01/26
B
2,183,072
Total
Gas
Utilities
4,346,134
Health
Care
Equipment
&
Supplies
-
0.5%
2,735
Embecta
Corp,
144A
5.000%
2/15/30
Ba3
2,319,143
Total
Health
Care
Equipment
&
Supplies
2,319,143
Health
Care
Providers
&
Services
-
3.8%
2,500
CHS/Community
Health
Systems
Inc,
144A
4.750%
2/15/31
BB-
1,931,250
1,800
CHS/Community
Health
Systems
Inc,
144A
5.250%
5/15/30
BB-
1,440,216
4,000
DaVita
Inc,
144A
4.625%
6/01/30
B+
3,296,680
3,500
HCA
Inc
7.500%
11/06/33
BBB-
3,746,836
1,800
Pediatrix
Medical
Group
Inc,
144A
(3)
5.375%
2/15/30
BB-
1,587,932
2,000
Select
Medical
Corp,
144A
6.250%
8/15/26
B-
1,910,000
4,750
Tenet
Healthcare
Corp
(3)
6.125%
10/01/28
B+
4,393,750
Total
Health
Care
Providers
&
Services
18,306,664
Hotels,
Restaurants
&
Leisure
-
5.4%
4,750
Carnival
Corp,
144A
10.500%
2/01/26
BB-
4,916,143
3,050
CDI
Escrow
Issuer
Inc,
144A
5.750%
4/01/30
B+
2,832,687
2,700
Cinemark
USA
Inc,
144A
5.875%
3/15/26
B3
2,471,985
1,800
GLP
Capital
LP
/
GLP
Financing
II
Inc
5.300%
1/15/29
BBB-
1,702,602
2,485
Hilton
Grand
Vacations
Borrower
Escrow
LLC
/
Hilton
Grand
Vacations
Borrower
Esc,
144A
5.000%
6/01/29
BB-
2,180,943
1,500
Life
Time
Inc,
144A
5.750%
1/15/26
B+
1,437,075
2,000
Merlin
Entertainments
Ltd,
144A
5.750%
6/15/26
B
1,899,580
2,000
NCL
Corp
Ltd,
144A
5.875%
3/15/26
B-
1,730,000
2,780
NCL
Corp
Ltd,
144A
8.375%
2/01/28
BB-
2,824,411
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Hotels,
Restaurants
&
Leisure
(continued)
$
1,800
Penn
Entertainment
Inc,
144A
5.625%
1/15/27
B
$
1,669,264
1,640
Royal
Caribbean
Cruises
Ltd,
144A
8.250%
1/15/29
BB-
1,698,092
940
Royal
Caribbean
Cruises
Ltd,
144A
7.250%
1/15/30
B+
942,350
Total
Hotels,
Restaurants
&
Leisure
26,305,132
Household
Durables
-
0.3%
1,750
Newell
Brands
Inc
5.750%
4/01/46
BBB-
1,405,583
Total
Household
Durables
1,405,583
Independent
Power
And
Renewable
Electricity
Producers
-
0.4%
2,000
Vistra
Operations
Co
LLC,
144A
3.700%
1/30/27
BBB-
1,831,223
Total
Independent
Power
And
Renewable
Electricity
Producers
1,831,223
Independent
Power
Producers
&
Energy
Traders
-
0.8%
1,850
Clearway
Energy
Operating
LLC,
144A
4.750%
3/15/28
BB
1,697,745
2,600
TerraForm
Power
Operating
LLC,
144A
5.000%
1/31/28
BB-
2,392,000
Total
Independent
Power
Producers
&
Energy
Traders
4,089,745
Insurance
-
1.9%
2,000
Acrisure
LLC
/
Acrisure
Finance
Inc,
144A
7.000%
11/15/25
CCC+
1,869,049
4,710
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-
Issuer,
144A
6.750%
4/15/28
B2
4,606,427
2,000
AmWINS
Group
Inc,
144A
4.875%
6/30/29
B-
1,698,608
1,420
BroadStreet
Partners
Inc,
144A
5.875%
4/15/29
CCC+
1,222,497
Total
Insurance
9,396,581
Interactive
Media
&
Services
-
0.3%
1,500
Getty
Images
Inc,
144A
9.750%
3/01/27
B
1,488,750
Total
Interactive
Media
&
Services
1,488,750
IT
Services
-
1.2%
2,000
Ahead
DB
Holdings
LLC,
144A
6.625%
5/01/28
CCC+
1,689,288
1,500
CA
Magnum
Holdings,
144A
5.375%
10/31/26
BB-
1,381,422
2,100
MPH
Acquisition
Holdings
LLC,
144A
5.500%
9/01/28
Ba3
1,591,065
1,425
Presidio
Holdings
Inc,
144A
8.250%
2/01/28
CCC+
1,354,380
Total
IT
Services
6,016,155
Life
Sciences
Tools
&
Services
-
0.5%
2,700
Avantor
Funding
Inc,
144A
3.875%
11/01/29
BB
2,335,500
Total
Life
Sciences
Tools
&
Services
2,335,500
Machinery
-
1.0%
2,000
Chart
Industries
Inc,
144A
9.500%
1/01/31
B
2,090,000
3,000
WASH
Multifamily
Acquisition
Inc,
144A
5.750%
4/15/26
B-
2,790,690
Total
Machinery
4,880,690
Media
-
7.5%
2,250
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
7.375%
3/03/31
BB+
2,182,736
2,750
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
6.375%
9/01/29
BB+
2,563,921
5,000
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
5.000%
2/01/28
BB+
4,531,250
2,000
CSC
Holdings
LLC,
144A
4.500%
11/15/31
B+
1,419,957
2,835
CSC
Holdings
LLC
5.250%
6/01/24
B-
2,746,718
4,000
DISH
Network
Corp,
144A
11.750%
11/15/27
Ba3
4,052,900
1,500
Gray
Escrow
Inc,
144A
5.375%
11/15/31
BB-
1,113,679
2,000
iHeartCommunications
Inc
6.375%
5/01/26
BB-
1,884,960
2,420
iHeartCommunications
Inc,
144A
4.750%
1/15/28
BB-
2,035,042
2,000
LCPR
Senior
Secured
Financing
DAC,
144A
6.750%
10/15/27
BB+
1,850,255
1,800
LCPR
Senior
Secured
Financing
DAC,
144A
5.125%
7/15/29
BB+
1,521,788
Nuveen
High
Yield
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Media
(continued)
$
1,850
Sirius
XM
Radio
Inc,
144A
4.000%
7/15/28
BB
$
1,581,750
1,350
UPC
Broadband
Finco
BV,
144A
4.875%
7/15/31
BB+
1,130,625
2,450
UPC
Holding
BV,
144A
5.500%
1/15/28
B
2,168,250
1,800
Virgin
Media
Secured
Finance
PLC,
144A
5.500%
5/15/29
BB+
1,631,088
4,500
VZ
Secured
Financing
BV,
144A
5.000%
1/15/32
BB
3,701,346
Total
Media
36,116,265
Metals
&
Mining
-
1.8%
3,000
FMG
Resources
August
2006
Pty
Ltd,
144A
5.875%
4/15/30
BB+
2,824,708
2,170
Mineral
Resources
Ltd,
144A
8.500%
5/01/30
BB
2,172,626
1,000
Mineral
Resources
Ltd,
144A
8.000%
11/01/27
BB
995,000
3,145
SunCoke
Energy
Inc,
144A
4.875%
6/30/29
BB
2,670,148
Total
Metals
&
Mining
8,662,482
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
0.8%
1,550
Blackstone
Mortgage
Trust
Inc,
144A
3.750%
1/15/27
Ba2
1,317,610
2,325
Starwood
Property
Trust
Inc,
144A
4.375%
1/15/27
BB+
2,015,666
750
Starwood
Property
Trust
Inc,
144A
3.750%
12/31/24
BB+
705,857
Total
Mortgage
Real
Estate
Investment
Trusts
(REITs)
4,039,133
Multiline
Retail
-
0.8%
3,000
Kohl's
Corp
3.625%
5/01/31
BBB-
2,109,300
1,300
Macy's
Retail
Holdings
LLC,
144A
6.125%
3/15/32
BBB-
1,118,000
700
Macy's
Retail
Holdings
LLC,
144A
(3)
5.875%
4/01/29
BBB-
635,852
Total
Multiline
Retail
3,863,152
Oil,
Gas
&
Consumable
Fuels
-
8.0%
1,835
Antero
Midstream
Partners
LP
/
Antero
Midstream
Finance
Corp,
144A
5.375%
6/15/29
BB
1,651,500
2,855
Callon
Petroleum
Co,
144A
7.500%
6/15/30
B+
2,681,159
1,750
Callon
Petroleum
Co,
144A
8.000%
8/01/28
B+
1,716,137
1,710
Calumet
Specialty
Products
Partners
LP
/
Calumet
Finance
Corp,
144A
8.125%
1/15/27
B-
1,672,448
1,530
CNX
Midstream
Partners
LP,
144A
4.750%
4/15/30
BB
1,254,345
4,000
Crestwood
Midstream
Partners
LP
/
Crestwood
Midstream
Finance
Corp,
144A
6.000%
2/01/29
BB
3,638,800
1,500
DT
Midstream
Inc,
144A
4.125%
6/15/29
BB+
1,286,250
2,900
Energean
Israel
Finance
Ltd,
144A
,
Reg
S
5.875%
3/30/31
BB-
2,524,692
1,840
EQM
Midstream
Partners
LP,
144A
6.500%
7/01/27
BB
1,742,646
2,500
EQM
Midstream
Partners
LP
6.500%
7/15/48
BB
1,862,200
2,525
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp
8.875%
4/15/30
B
2,537,402
1,625
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp
8.000%
1/15/27
B
1,589,266
575
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co,
144A
5.750%
2/01/29
BB+
520,375
2,930
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co,
144A
6.000%
2/01/31
BB+
2,628,796
2,205
Kinetik
Holdings
LP,
144A
5.875%
6/15/30
BB+
2,037,883
2,075
NGL
Energy
Operating
LLC
/
NGL
Energy
Finance
Corp,
144A
7.500%
2/01/26
B
1,981,453
1,500
Occidental
Petroleum
Corp
8.875%
7/15/30
BB+
1,703,775
3,150
Parkland
Corp/Canada,
144A
4.625%
5/01/30
BB
2,622,375
3,250
Southwestern
Energy
Co
4.750%
2/01/32
BB+
2,792,823
Total
Oil,
Gas
&
Consumable
Fuels
38,444,325
Personal
Products
-
1.1%
2,000
Coty
Inc/HFC
Prestige
Products
Inc/HFC
Prestige
International
US
LLC,
144A
4.750%
1/15/29
BB
1,800,706
3,850
Kronos
Acquisition
Holdings
Inc
/
KIK
Custom
Products
Inc,
144A
(3)
7.000%
12/31/27
CCC
3,301,375
Total
Personal
Products
5,102,081
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Pharmaceuticals
-
0.8%
$
2,000
ORGANON
&
CO/ORG,
144A
4.125%
4/30/28
BB
$
1,765,400
2,600
Teva
Pharmaceutical
Finance
Netherlands
III
BV
4.750%
5/09/27
Ba2
2,339,974
Total
Pharmaceuticals
4,105,374
Professional
Services
-
0.6%
1,800
ASGN
Inc,
144A
4.625%
5/15/28
BB-
1,626,714
1,500
Verscend
Escrow
Corp,
144A
9.750%
8/15/26
CCC+
1,505,625
Total
Professional
Services
3,132,339
Real
Estate
Management
&
Development
-
0.9%
1,675
Kennedy-Wilson
Inc
4.750%
3/01/29
BB-
1,361,482
1,750
Kennedy-Wilson
Inc
5.000%
3/01/31
BB-
1,339,018
2,000
Realogy
Group
LLC
/
Realogy
Co-Issuer
Corp,
144A
5.750%
1/15/29
B+
1,435,980
Total
Real
Estate
Management
&
Development
4,136,480
Semiconductors
&
Semiconductor
Equipment
-
0.5%
2,750
Entegris
Escrow
Corp,
144A
4.750%
4/15/29
Baa3
2,500,389
Total
Semiconductors
&
Semiconductor
Equipment
2,500,389
Software
-
1.1%
900
Condor
Merger
Sub
Inc,
144A
7.375%
2/15/30
CCC+
713,273
3,000
Gen
Digital
Inc,
144A
6.750%
9/30/27
BB+
2,948,843
1,825
Rocket
Software
Inc,
144A
6.500%
2/15/29
CCC
1,493,281
Total
Software
5,155,397
Specialty
Retail
-
2.4%
315
Academy
Ltd,
144A
6.000%
11/15/27
BB
297,675
1,850
Asbury
Automotive
Group
Inc,
144A
5.000%
2/15/32
BB
1,576,575
1,800
Bath
&
Body
Works
Inc,
144A
6.625%
10/01/30
BB
1,705,014
1,590
LCM
Investments
Holdings
II
LLC,
144A
4.875%
5/01/29
BB-
1,292,340
3,000
Michaels
Cos
Inc/The,
144A
7.875%
5/01/29
Caa1
2,257,500
1,800
Staples
Inc,
144A
7.500%
4/15/26
B
1,602,000
3,530
Staples
Inc,
144A
(3)
10.750%
4/15/27
CCC+
2,703,274
Total
Specialty
Retail
11,434,378
Textiles
-
0.3%
1,615
Hanesbrands
Inc,
144A
(3)
9.000%
2/15/31
BB-
1,633,007
Total
Textiles
1,633,007
Textiles,
Apparel
&
Luxury
Goods
-
0.4%
2,490
Wolverine
World
Wide
Inc,
144A
4.000%
8/15/29
B+
2,005,546
Total
Textiles,
Apparel
&
Luxury
Goods
2,005,546
Thrifts
&
Mortgage
Finance
-
0.5%
2,000
Rocket
Mortgage
LLC
/
Quicken
Loans
Co-Issuer
Inc,
144A
3.625%
3/01/29
Ba1
1,607,629
1,000
Rocket
Mortgage
LLC
/
Quicken
Loans
Co-Issuer
Inc,
144A
2.875%
10/15/26
Ba1
862,890
Total
Thrifts
&
Mortgage
Finance
2,470,519
Trading
Companies
&
Distributors
-
2.2%
2,965
Albion
Financing
1
SARL
/
Aggreko
Holdings
Inc,
144A
6.125%
10/15/26
BB+
2,651,362
1,600
Albion
Financing
2SARL,
144A
8.750%
4/15/27
BB-
1,380,000
2,800
Ashtead
Capital
Inc,
144A
5.550%
5/30/33
BBB
2,683,052
4,000
WESCO
Distribution
Inc,
144A
7.250%
6/15/28
BB
4,053,419
Total
Trading
Companies
&
Distributors
10,767,833
Nuveen
High
Yield
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Wireless
Telecommunication
Services
-
1.8%
$
2,750
Connect
Finco
SARL
/
Connect
US
Finco
LLC,
144A
6.750%
10/01/26
B+
$
2,543,859
2,000
Sprint
LLC
7.875%
9/15/23
Baa3
2,018,678
4,000
T-Mobile
USA
Inc
4.950%
3/15/28
BBB-
3,926,559
Total
Wireless
Telecommunication
Services
8,489,096
Total
Corporate
Bonds
(cost
$406,983,758)
385,026,320
Principal
Amount
(000)
Description
(1)
Coupon
(6)
Reference
Rate
(6)
Spread
(6)
Maturity
(7)
Ratings
(2)
Value
X
54,406,435
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
11.3%
(6)
X
54,406,435
Aerospace
&
Defense
-
0.5%
$
2,500
TransDigm,
Inc.,
Term
Loan
H
7.830%
TSFR3M
3.250%
2/22/27
Ba3
$
2,501,175
Total
Aerospace
&
Defense
2,501,175
Airlines
-
0.4%
2,000
Air
Canada,
Term
Loan
B
8.369%
3-Month
LIBOR
3.500%
8/11/28
Ba2
2,000,940
Total
Airlines
2,000,940
Beverages
-
0.3%
1,654
Triton
Water
Holdings,
Inc,
Term
Loan
8.230%
3-Month
LIBOR
3.500%
3/31/28
B1
1,545,076
Total
Beverages
1,545,076
Communications
Equipment
-
0.4%
1,836
CommScope,
Inc.,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
4/04/26
B1
1,786,203
Total
Communications
Equipment
1,786,203
Containers
&
Packaging
-
0.8%
4,000
LABL
Inc,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
B2
3,913,600
Total
Containers
&
Packaging
3,913,600
Diversified
Telecommunication
Services
-
0.6%
3,000
Frontier
Communications
Corp.,
Term
Loan
B
8.500%
3-Month
LIBOR
3.750%
10/08/27
BB+
2,942,340
Total
Diversified
Telecommunication
Services
2,942,340
Health
Care
Equipment
&
Supplies
-
1.8%
3,901
Bausch
&
Lomb,
Inc.,
Term
Loan,
(DD1)
7.842%
SOFR90A
3.250%
5/05/27
BB-
3,824,520
4,988
Medline
Borrower,
LP,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/21/28
BB-
4,816,668
Total
Health
Care
Equipment
&
Supplies
8,641,188
Health
Care
Providers
&
Services
-
0.4%
1,990
US
Radiology
Specialists,
Inc.,
Term
Loan
9.885%
1-Month
LIBOR
5.250%
12/15/27
B-
1,866,183
Total
Health
Care
Providers
&
Services
1,866,183
Hotels,
Restaurants
&
Leisure
-
1.9%
160
24
Hour
Fitness
Worldwide,
Inc.,
Exit
Term
Loan
(cash
18.849%,
PIK
12.000%)
18.849%
3-Month
LIBOR
14.000%
9/29/26
Caa3
88,003
390
24
Hour
Fitness
Worldwide,
Inc.,
Term
Loan
9.726%
3-Month
LIBOR
5.000%
12/29/25
CCC-
34,162
4,500
Caesars
Entertainment
Corp,
Term
Loan
B,
(WI/DD)
TBD
TBD
TBD
TBD
Ba3
4,499,685
Principal
Amount
(000)
Description
(1)
Coupon
(6)
Reference
Rate
(6)
Spread
(6)
Maturity
(7)
Ratings
(2)
Value
Hotels,
Restaurants
&
Leisure
(continued)
$
2,000
GVC
Holdings
(Gibraltar)
Limited,
Term
Loan
B,
(WI/
DD)
TBD
TBD
TBD
TBD
Ba1
$
2,001,560
2,494
Stars
Group
Holdings
B.V.
(The),
Term
Loan
6.980%
3-Month
LIBOR
2.250%
7/10/25
BBB
2,493,413
Total
Hotels,
Restaurants
&
Leisure
9,116,823
Insurance
-
0.9%
2,250
Acrisure,
LLC,
Term
Loan
B,
First
Lien,
(WI/DD)
TBD
TBD
TBD
TBD
B
2,173,365
2,366
Asurion
LLC,
Term
Loan
B7
7.635%
1-Month
LIBOR
3.000%
11/03/24
Ba3
2,361,366
Total
Insurance
4,534,731
Interactive
Media
&
Services
-
0.2%
1,051
Getty
Images,
Inc.,
Term
Loan
B
9.218%
1-Month
LIBOR
4.500%
2/19/26
BB-
1,052,630
Total
Interactive
Media
&
Services
1,052,630
Media
-
0.7%
3,542
DirecTV
Financing,
LLC,
Term
Loan
9.635%
1-Month
LIBOR
5.000%
8/02/27
BBB-
3,454,534
Total
Media
3,454,534
Professional
Services
-
0.5%
2,146
Verscend
Holding
Corp.,
Term
Loan
B
8.635%
1-Month
LIBOR
4.000%
8/27/25
BB-
2,148,179
Total
Professional
Services
2,148,179
Software
-
1.1%
1,990
McAfee,
LLC,
Term
Loan
B
8.418%
SOFR30A
3.750%
2/03/29
BB+
1,869,854
3,500
Open
Text
Corp,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
BBB-
3,499,737
Total
Software
5,369,591
Textiles
-
0.4%
1,800
Hanesbrands
Inc,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
BB+
1,802,250
Total
Textiles
1,802,250
Wireless
Telecommunication
Services
-
0.4%
1,737
GOGO
Intermediate
Holdings
LLC,
Term
Loan
B
8.575%
3-Month
LIBOR
3.750%
4/30/28
B+
1,730,992
Total
Wireless
Telecommunication
Services
1,730,992
Total
Variable
Rate
Senior
Loan
Interests
(cost
$54,758,825)
54,406,435
Shares
Description
(1)
Value
X
19,796,807
EXCHANGE-TRADED
FUNDS
-
4.1%
X
19,796,807
944,955
Invesco
Senior
Loan
ETF
$
19,796,807
Total
Exchange-Traded
Funds
(cost
$20,004,696)
19,796,807
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
9,886,256
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
2.0%
X
9,886,256
Consumer
Finance
-
0.7%
$
3,500
Ally
Financial
Inc
6.700%
2/14/33
Baa3
$
3,325,546
Total
Consumer
Finance
3,325,546
Nuveen
High
Yield
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Electric
Utilities
-
0.5%
$
2,725
Edison
International
5.375%
N/A
(8)
BB+
$
2,480,649
Total
Electric
Utilities
2,480,649
Independent
Power
Producers
&
Energy
Traders
-
0.3%
1,800
Vistra
Corp,
144A
7.000%
N/A
(8)
Ba3
1,683,594
Total
Independent
Power
Producers
&
Energy
Traders
1,683,594
Oil,
Gas
&
Consumable
Fuels
-
0.5%
2,600
Energy
Transfer
LP
6.500%
N/A
(8)
BB
2,396,467
Total
Oil,
Gas
&
Consumable
Fuels
2,396,467
Total
$1,000
Par
(or
similar)
Institutional
Preferred
(cost
$10,515,856)
9,886,256
Shares
Description
(1)
Value
X
2,986,099
COMMON
STOCKS
-
0.6%
X
2,986,099
Hotels,
Restaurants
&
Leisure
-
0.0%
86,730
24
Hour
Fitness
Worldwide
Inc
(9)
$
433
182,331
24
Hour
Fitness
Worldwide
Inc
(9)
912
Total
Hotels,
Restaurants
&
Leisure
1,345
Independent
Power
and
Renewable
Electricity
Producers
-
0.6%
38,861
Energy
Harbor
Corp
(9),(10)
2,976,092
Total
Independent
Power
and
Renewable
Electricity
Producers
2,976,092
Internet
&
Direct
Marketing
Retail
-
0.0%
652
Catalina
Marketing
Corp
(9)
163
Total
Internet
&
Direct
Marketing
Retail
163
Semiconductors
&
Semiconductor
Equipment
-
0.0%
607
Bright
Bidco
BV
(9),(11)
8,499
Total
Semiconductors
&
Semiconductor
Equipment
8,499
Total
Common
Stocks
(cost
$3,655,505)
2,986,099
Shares
Description
(1)
Value
X
2,328,742
WARRANTS
-
0.5%
X
2,328,742
Energy
Equipment
&
Services
-
0.5%
13,860
Quarternorth
Energy
Holding
Inc
$
1,903,435
36,435
Quarternorth
Energy
Holding
Inc
255,045
18,918
Quarternorth
Energy
Holding
Inc
170,262
Total
Energy
Equipment
&
Services
2,328,742
Total
Warrants
(cost
$361,196)
2,328,742
Total
Long-Term
Investments
(cost
$496,279,836)
474,430,659
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
3.2%
15,346,961
MONEY
MARKET
FUNDS
-
3.2%
X
15,346,961
15,346,961
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(12)
4.600%(13)
$
15,346,961
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$15,346,961)
15,346,961
Shares
Description
(1)
Coupon
Value
SHORT-TERM
INVESTMENTS
-
3.7%
18,115,055
INVESTMENT
COMPANIES
-
3.7%
18,115,055
18,115,055
BlackRock
Liquidity
Funds
T-Fund
3.591%(14)
$
18,115,055
Total
Investment
Companies
(cost
$18,115,055)
18,115,055
Total
Short-Term
Investments
(cost
$18,115,055)
18,115,055
Total
Investments
(cost
$
529,741,852
)
-
105
.2
%
507,892,675
Other
Assets
&
Liabilities,
Net
- (5.2)%
(
25,201,825
)
Net
Assets
-
100%
$
482,690,850
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.
(2)
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.
(3)
Investment,
or
a
portion
of
investment,
is
out
on
loan
for
securities
lending.
The
total
value
of
the
securities
out
on
loan
as
of
the
end
of
the
reporting
period
was
$14,787,121.
(4)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(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)
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.
(7)
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.
(8)
Perpetual
security.
Maturity
date
is
not
applicable.
(9)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(10)
Energy
Harbor
Corp
(ENGH)
common
stock
received
as
part
of
the
bankruptcy
settlements
during
February
2020
for
Bruce
Mansfield
Unit
1
2007
Pass-Through
Trust.
Various
funds
and
accounts
managed
by
Nuveen,
including
the
Fund,
collectively
are
a
substantial
minority
holder
of
ENGH’s
outstanding
shares
of
common
stock,
and
possess
certain
other
rights
with
respect
to
the
corporate
governance
of
ENGH.
Due
to
these
facts,
under
the
federal
securities
laws,
the
securities
of
ENGH
held
by
Nuveen
funds
and
accounts,
including
the
Fund,
cannot
be
sold
except
under
limited
conditions
(which
are
not
currently
satisfied)
and
are
effectively
illiquid.
The
Fund
is
therefore
unable
to
sell
such
shares
in
ordinary
secondary
market
transactions
at
this
time.
On
March
6,
2023
Vistra
Corp.
(“Vistra”)
announced
that
it
has
executed
a
definitive
agreement
with
Energy
Harbor
Corp.,
pursuant
to
which
Energy
Harbor
will
merge
with
and
into
a
newly-formed
subsidiary
of
Vistra. The
companies
anticipate
closing
the
transaction
in
the
second
half
of
2023. In
connection
with
the
transaction,
Nuveen
funds
and
accounts
expect
to
receive
a
combination
of
cash
and
shares
in
a
newly
formed
entity.
The
transaction
is
subject
to
certain
regulatory
approvals
and
there
can
be
no
assurance
that
the
transaction
will
close.
(11)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
Nuveen
High
Yield
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
(12)
The
Fund
may
loan
securities
representing
up
to
one
third
of
the
market
value
of
its
total
assets
(which
includes
collateral
for
securities
on
loan)
to
broker
dealers,
banks,
and
other
institutions.
The
collateral
maintained
by
the
Fund
shall
have
a
market
value,
at
the
inception
of
each
loan,
equal
to
not
less
than
100%
of
the
market
value
of
the
loaned
securities.
The
cash
collateral
received
by
the
Fund
is
invested
in
this
money
market
fund.
(13)
The
rate
shown
is
the
one-day
yield
as
of
the
end
of
the
reporting
period.
(14)
The
rate
shown
is
the
annualized
seven-day
subsidized
yield
as
of
end
of
the
reporting
period.
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.
ETF
Exchange-Traded
Fund
LIBOR
London
Inter-Bank
Offered
Rate
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.
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.
SOFR
30A
30
Day
Average
Secured
Overnight
Financing
Rate
SOFR
90A
90
Day
Average
Secured
Overnight
Financing
Rate
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.
TSFR
3M
CME
Term
SOFR
3
Month
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
Nuveen
Preferred
Securities
and
Income
Fund
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
LONG-TERM
INVESTMENTS
-
98.0%
X
2,649,917,530
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
49.4%
X
2,649,917,530
Automobiles
-
1.5%
$
52,118
General
Motors
Financial
Co
Inc
(3)
5.750%
N/A
(4)
BB+
$
47,500,345
34,084
General
Motors
Financial
Co
Inc
5.700%
N/A
(4)
BB+
30,788,671
Total
Automobiles
78,289,016
Banks
-
20.3%
16,245
Bank
of
America
Corp
4.375%
N/A
(4)
BBB+
14,074,668
13,651
Bank
of
America
Corp
6.100%
N/A
(4)
BBB+
13,514,490
30,756
Bank
of
America
Corp
6.300%
N/A
(4)
BBB+
30,948,225
25,649
Bank
of
America
Corp
6.250%
N/A
(4)
BBB+
25,649,000
21,626
Bank
of
America
Corp
(3)
6.500%
N/A
(4)
BBB+
21,507,057
12,305
BNP
Paribas
SA,
144A
9.250%
N/A
(4)
BBB
13,135,588
38,016
Citigroup
Inc
5.000%
N/A
(4)
BBB-
36,115,200
22,988
Citigroup
Inc
(3)
6.250%
N/A
(4)
BBB-
22,902,715
50,287
Citigroup
Inc
5.950%
N/A
(4)
BBB-
49,140,456
12,885
Citigroup
Inc
1.000%
12/31/99
N/R
12,885,000
9,938
Citigroup
Inc
(3-Month
LIBOR
reference
rate
+
4.230%
spread)
(3),(5)
9.094%
N/A
(4)
BBB-
9,971,789
47,169
Citigroup
Inc
(3)
6.300%
N/A
(4)
BBB-
46,048,736
15,994
Citigroup
Inc
4.150%
N/A
(4)
BBB-
13,734,848
20,295
Citizens
Financial
Group
Inc
4.000%
N/A
(4)
BB+
17,081,465
5,846
Citizens
Financial
Group
Inc
(3)
6.375%
N/A
(4)
BB+
5,608,445
23,396
CoBank
ACB
6.250%
N/A
(4)
BBB+
22,678,408
33,000
CoBank
ACB
6.450%
N/A
(4)
BBB+
33,082,500
5,865
Commerzbank
AG,
144A
8.125%
9/19/23
Baa3
5,895,339
29,665
Farm
Credit
Bank
of
Texas,
144A
5.700%
N/A
(4)
Baa1
27,736,775
14,461
Fifth
Third
Bancorp
4.500%
N/A
(4)
Baa3
13,832,802
17,141
First
Citizens
BancShares
Inc/NC
(3-Month
LIBOR
reference
rate
+
3.972%
spread)
(5)
8.741%
N/A
(4)
Ba1
17,226,705
965
Goldman
Sachs
Group
Inc
4.400%
N/A
(4)
BB+
875,573
10,510
Goldman
Sachs
Group
Inc
3.800%
N/A
(4)
BBB-
9,020,102
9,768
HSBC
Capital
Funding
Dollar
1
LP,
144A
10.176%
N/A
(4)
BBB
12,105,015
13,080
HSBC
Holdings
PLC
8.000%
12/31/99
N/R
13,080,000
26,515
Huntington
Bancshares
Inc/OH
(3)
5.625%
N/A
(4)
Baa3
25,157,902
37,473
JPMorgan
Chase
&
Co
5.000%
N/A
(4)
BBB+
36,395,651
75,861
JPMorgan
Chase
&
Co
6.750%
N/A
(4)
BBB+
76,192,892
21,887
JPMorgan
Chase
&
Co
3.650%
N/A
(4)
BBB+
18,998,326
26,234
JPMorgan
Chase
&
Co
6.100%
N/A
(4)
BBB+
26,086,434
14,491
KeyCorp
5.000%
N/A
(4)
Baa3
13,676,521
14,785
M&T
Bank
Corp
3.500%
N/A
(4)
Baa2
11,717,631
8,046
M&T
Bank
Corp
6.450%
N/A
(4)
Baa2
8,002,004
12,323
M&T
Bank
Corp
(3)
5.125%
N/A
(4)
Baa2
11,469,632
16,242
PNC
Financial
Services
Group
Inc
(3-Month
LIBOR
reference
rate
+
3.678%
spread)
(5)
3.804%
N/A
(4)
Baa2
16,370,267
23,815
PNC
Financial
Services
Group
Inc
(3)
6.000%
N/A
(4)
Baa2
23,029,105
15,444
PNC
Financial
Services
Group
Inc/The
5.000%
N/A
(4)
Baa2
14,393,798
39,990
PNC
Financial
Services
Group
Inc/The
6.250%
N/A
(4)
Baa2
38,690,325
16,330
PNC
Financial
Services
Group
Inc/The
3.400%
N/A
(4)
Baa2
13,495,112
12,190
PNC
Financial
Services
Group
Inc/The
(3)
6.200%
N/A
(4)
Baa2
12,007,150
17,887
Regions
Financial
Corp
5.750%
N/A
(4)
Baa3
17,577,024
11,175
Societe
Generale
SA,
144A
9.375%
N/A
(4)
BB+
11,786,273
5,752
SVB
Financial
Group
4.100%
N/A
(4)
Baa2
3,968,880
4,675
SVB
Financial
Group
(3)
4.700%
N/A
(4)
Baa2
3,222,145
8,655
SVB
Financial
Group
(3)
4.000%
N/A
(4)
Baa2
6,354,065
Nuveen
Preferred
Securities
and
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Banks
(continued)
$
12,446
Truist
Financial
Corp
(3-Month
LIBOR
reference
rate
+
3.102%
spread)
(3),(5)
7.871%
N/A
(4)
Baa2
$
12,604,313
22,044
Truist
Financial
Corp
5.100%
N/A
(4)
Baa2
21,047,611
53,096
Truist
Financial
Corp
4.800%
N/A
(4)
Baa2
50,410,529
50,823
Wells
Fargo
&
Co
5.875%
N/A
(4)
Baa2
50,416,416
6,580
Wells
Fargo
&
Co
7.950%
11/15/29
Baa1
7,229,543
46,005
Wells
Fargo
&
Co
3.900%
N/A
(4)
Baa2
41,145,722
18,663
Wells
Fargo
&
Co
5.900%
N/A
(4)
Baa2
18,260,439
7,490
Zions
Bancorp
NA
5.800%
N/A
(4)
BB+
7,340,200
7,645
Zions
Bancorp
NA
7.200%
N/A
(4)
BB+
7,645,000
Total
Banks
1,092,541,811
Capital
Markets
-
2.1%
7,300
Bank
of
New
York
Mellon
Corp
4.700%
N/A
(4)
Baa1
7,099,250
9,210
Charles
Schwab
Corp
4.000%
N/A
(4)
BBB
8,380,302
26,486
Charles
Schwab
Corp
5.375%
N/A
(4)
BBB
26,088,710
25,800
Goldman
Sachs
Group
Inc
5.300%
N/A
(4)
BBB-
25,100,820
38,798
Goldman
Sachs
Group
Inc
5.500%
N/A
(4)
BBB-
38,024,813
8,925
Goldman
Sachs
Group
Inc
(3)
4.125%
N/A
(4)
BBB-
7,664,344
Total
Capital
Markets
112,358,239
Communications
Equipment
-
0.1%
9,350
Vodafone
Group
PLC
4.125%
6/04/81
BB+
7,420,908
Total
Communications
Equipment
7,420,908
Consumer
Finance
-
1.6%
22,925
Ally
Financial
Inc
4.700%
N/A
(4)
Ba2
16,867,910
24,980
Ally
Financial
Inc
4.700%
N/A
(4)
Ba2
19,575,577
15,930
American
Express
Co
3.550%
N/A
(4)
Baa2
13,522,977
20,795
Capital
One
Financial
Corp
(3)
3.950%
N/A
(4)
Baa3
17,548,900
11,108
Discover
Financial
Services
(3)
6.125%
N/A
(4)
Ba2
10,997,867
8,000
Discover
Financial
Services
5.500%
N/A
(4)
Ba2
6,820,560
Total
Consumer
Finance
85,333,791
Diversified
Financial
Services
-
2.3%
20,885
American
AgCredit
Corp,
144A
5.250%
N/A
(4)
BB+
19,214,200
13,295
Capital
Farm
Credit
ACA,
144A
5.000%
N/A
(4)
BB
12,231,400
3,955
Citigroup
Capital
III
7.625%
12/01/36
Baa3
4,222,662
6,700
Compeer
Financial
ACA,
144A
4.875%
N/A
(4)
BB+
5,912,757
33
Compeer
Financial
ACA,
144A
6.750%
N/A
(4)
BB+
32,581,755
25,209
Equitable
Holdings
Inc
4.950%
N/A
(4)
BBB-
24,284,216
26,248
Voya
Financial
Inc
(3)
6.125%
N/A
(4)
BBB-
25,851,379
Total
Diversified
Financial
Services
124,298,369
Electric
Utilities
-
1.7%
16,285
American
Electric
Power
Co
Inc
3.875%
2/15/62
BBB
13,580,594
17,929
Edison
International
5.000%
N/A
(4)
BB+
15,439,917
8,247
Edison
International
5.375%
N/A
(4)
BB+
7,507,492
44,009
Emera
Inc
6.750%
6/15/76
BB+
42,225,229
13,626
Southern
Co
4.000%
1/15/51
BBB-
12,776,419
Total
Electric
Utilities
91,529,651
Food
Products
-
2.6%
13,835
Dairy
Farmers
of
America
Inc,
144A
7.125%
N/A
(4)
BB+
11,690,575
44,310
Land
O'
Lakes
Inc,
144A
8.000%
N/A
(4)
BB
41,651,400
46,321
Land
O'
Lakes
Inc,
144A
7.000%
N/A
(4)
BB
40,530,875
51,917
Land
O'
Lakes
Inc,
144A
7.250%
N/A
(4)
BB
45,427,375
Total
Food
Products
139,300,225
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Independent
Power
Producers
&
Energy
Traders
-
0.7%
$
7,705
AES
Andes
SA,
144A
7.125%
3/26/79
BB
$
7,339,253
13,450
AES
Andes
SA,
144A
6.350%
10/07/79
BB
12,527,584
10,900
Vistra
Corp,
144A
7.000%
N/A
(4)
Ba3
10,195,097
7,395
Vistra
Corp,
144A
8.000%
N/A
(4)
Ba3
7,099,200
Total
Independent
Power
Producers
&
Energy
Traders
37,161,134
Industrial
Conglomerates
-
0.5%
26,498
General
Electric
Co
(3-Month
LIBOR
reference
rate
+
3.330%
spread)
(5)
8.099%
N/A
(4)
BBB-
26,463,035
Total
Industrial
Conglomerates
26,463,035
Insurance
-
9.1%
9,895
Aegon
NV
5.500%
4/11/48
Baa1
9,370,295
9,025
American
International
Group
Inc
5.750%
4/01/48
BBB-
8,709,125
47,922
Assurant
Inc
(3)
7.000%
3/27/48
Baa3
47,482,815
66,640
Assured
Guaranty
Municipal
Holdings
Inc,
144A
6.400%
12/15/66
BBB+
61,642,000
12,610
AXIS
Specialty
Finance
LLC
4.900%
1/15/40
BBB
10,683,964
17,288
Enstar
Finance
LLC
5.500%
1/15/42
BBB-
13,787,169
15,804
Enstar
Finance
LLC
5.750%
9/01/40
BBB-
14,086,105
13,545
Fidelis
Insurance
Holdings
Ltd,
144A
6.625%
4/01/41
BB+
12,664,575
9,234
Legal
&
General
Group
PLC
,
Reg
S
5.250%
3/21/47
A3
8,746,907
42,087
Markel
Corp
(3)
6.000%
N/A
(4)
BBB-
41,553,762
9,470
MetLife
Inc
(3)
3.850%
N/A
(4)
BBB
8,892,804
24,448
MetLife
Inc,
144A
9.250%
4/08/38
BBB
29,529,001
6,931
MetLife
Inc
5.875%
N/A
(4)
BBB
6,672,474
15,099
PartnerRe
Finance
B
LLC
4.500%
10/01/50
Baa1
13,481,186
24,242
Provident
Financing
Trust
I
7.405%
3/15/38
BB+
25,151,075
17,534
Prudential
Financial
Inc
5.125%
3/01/52
BBB+
16,023,446
3,085
Prudential
Financial
Inc
3.700%
10/01/50
BBB+
2,601,041
16,911
QBE
Insurance
Group
Ltd
,
Reg
S
6.750%
12/02/44
BBB
16,754,675
20,951
QBE
Insurance
Group
Ltd,
144A
(3)
5.875%
N/A
(4)
Baa2
20,214,507
41,288
QBE
Insurance
Group
Ltd,
144A
(3)
7.500%
11/24/43
Baa1
41,352,248
66,824
SBL
Holdings
Inc,
144A
7.000%
N/A
(4)
BB
53,292,140
32,074
SBL
Holdings
Inc,
144A
6.500%
N/A
(4)
BB
24,135,685
Total
Insurance
486,826,999
Media
-
0.2%
12,628
Paramount
Global
6.375%
3/30/62
Baa3
10,880,285
Total
Media
10,880,285
Multi-Utilities
-
1.7%
12,930
Algonquin
Power
&
Utilities
Corp
4.750%
1/18/82
BB+
10,699,575
35,086
CenterPoint
Energy
Inc
(3)
6.125%
N/A
(4)
BBB-
34,443,559
9,789
CMS
Energy
Corp
4.750%
6/01/50
BBB-
8,768,007
6,839
NiSource
Inc
5.650%
N/A
(4)
BBB-
6,629,563
17,730
Sempra
Energy
4.875%
N/A
(4)
BBB-
16,712,719
14,740
Sempra
Energy
4.125%
4/01/52
BBB-
12,504,727
Total
Multi-Utilities
89,758,150
Oil,
Gas
&
Consumable
Fuels
-
1.9%
18,555
Enbridge
Inc
7.625%
1/15/83
BBB-
18,856,519
11,854
Enbridge
Inc
6.000%
1/15/77
BBB-
11,309,861
21,437
Enbridge
Inc
5.750%
7/15/80
BBB-
20,105,119
4,735
Enbridge
Inc
5.500%
7/15/77
BBB-
4,374,259
17,442
Energy
Transfer
LP
6.500%
N/A
(4)
BB
16,076,604
5,895
Energy
Transfer
LP
7.125%
N/A
(4)
BB
5,240,655
17,245
Transcanada
Trust
5.600%
3/07/82
BBB
14,996,252
10,750
Transcanada
Trust
5.500%
9/15/79
BBB
9,479,893
Total
Oil,
Gas
&
Consumable
Fuels
100,439,162
Nuveen
Preferred
Securities
and
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Trading
Companies
&
Distributors
-
2.6%
$
52,150
AerCap
Global
Aviation
Trust,
144A
(3)
6.500%
6/15/45
Baa3
$
50,326,253
22,977
AerCap
Holdings
NV
(3)
5.875%
10/10/79
BB+
21,920,613
16,955
Air
Lease
Corp
4.650%
N/A
(4)
BB+
15,183,325
20,564
ILFC
E-Capital
Trust
I,
144A
6.288%
12/21/65
Baa3
14,034,930
50,449
ILFC
E-Capital
Trust
I,
144A
(3)
6.538%
12/21/65
Baa3
35,766,399
Total
Trading
Companies
&
Distributors
137,231,520
U.S.
Agency
-
0.1%
6,770
Farm
Credit
Bank
of
Texas,
144A
6.200%
N/A
(4)
BBB+
6,059,150
Total
U.S.
Agency
6,059,150
Wireless
Telecommunication
Services
-
0.4%
24,509
Vodafone
Group
PLC
7.000%
4/04/79
BB+
24,026,085
Total
Wireless
Telecommunication
Services
24,026,085
Total
$1,000
Par
(or
similar)
Institutional
Preferred
(cost
$2,790,192,693)
2,649,917,530
Principal
Amount
(000)
Description
(1)
,(6)
Coupon
Maturity
Ratings
(2)
Value
X
1,700,123,363
CONTINGENT
CAPITAL
SECURITIES
-
31.7%
X
1,700,123,363
Banks
-
22.8%
$
12,702
Australia
&
New
Zealand
Banking
Group
Ltd/United
Kingdom,
144A
6.750%
N/A
(4)
Baa2
$
12,613,086
42,705
Banco
Bilbao
Vizcaya
Argentaria
SA
6.500%
N/A
(4)
Ba2
40,569,750
33,132
Banco
Bilbao
Vizcaya
Argentaria
SA
6.125%
N/A
(4)
Ba2
29,750,217
10,700
Banco
Mercantil
del
Norte
SA/Grand
Cayman,
144A
(3)
7.500%
N/A
(4)
Ba2
10,031,250
16,450
Banco
Mercantil
del
Norte
SA/Grand
Cayman,
144A
(3)
7.625%
N/A
(4)
Ba2
15,541,704
43,235
Banco
Santander
SA
4.750%
N/A
(4)
Ba1
36,732,456
31,000
Banco
Santander
SA
,
Reg
S
7.500%
N/A
(4)
Ba1
30,344,350
39,900
Barclays
PLC
(3)
6.125%
N/A
(4)
BBB-
37,585,800
51,805
Barclays
PLC
7.750%
N/A
(4)
BBB-
51,416,462
23,410
Barclays
PLC
(3)
8.000%
N/A
(4)
BBB-
22,946,482
47,935
Barclays
PLC
8.000%
N/A
(4)
BBB-
47,455,650
9,150
BNP
Paribas
SA,
144A
7.000%
N/A
(4)
BBB
8,835,840
48,326
BNP
Paribas
SA,
144A
7.375%
N/A
(4)
BBB
48,077,604
38,025
BNP
Paribas
SA,
144A
6.625%
N/A
(4)
BBB
37,355,380
12,085
BNP
Paribas
SA,
144A
7.750%
N/A
(4)
BBB
12,311,594
43,319
Credit
Agricole
SA,
144A
8.125%
N/A
(4)
BBB
43,793,343
40,508
Credit
Agricole
SA,
144A
7.875%
N/A
(4)
BBB
40,422,933
8,421
Credit
Suisse
Group
AG,
144A
5.250%
N/A
(4)
BB-
5,801,218
5,746
Danske
Bank
A/S
,
Reg
S
7.000%
N/A
(4)
BBB-
5,499,497
6,745
Danske
Bank
A/S
,
Reg
S
6.125%
N/A
(4)
BBB-
6,492,062
6,435
Danske
Bank
A/S
,
Reg
S
4.375%
N/A
(4)
BBB-
5,566,275
69,575
HSBC
Holdings
PLC
6.000%
N/A
(4)
BBB
64,356,875
87,177
HSBC
Holdings
PLC
6.375%
N/A
(4)
BBB
85,215,517
13,075
HSBC
Holdings
PLC
6.375%
N/A
(4)
BBB
12,760,932
30,900
ING
Groep
NV
(3)
6.500%
N/A
(4)
BBB
29,589,840
40,460
ING
Groep
NV
,
Reg
S
6.750%
N/A
(4)
BBB
39,606,699
45,559
ING
Groep
NV
5.750%
N/A
(4)
BBB
42,221,803
12,795
Intesa
Sanpaolo
SpA,
144A
7.700%
N/A
(4)
BB-
11,991,903
70,336
Lloyds
Banking
Group
PLC
7.500%
N/A
(4)
Baa3
69,552,254
59,795
Lloyds
Banking
Group
PLC
7.500%
N/A
(4)
Baa3
58,846,053
20,370
Macquarie
Bank
Ltd/London,
144A
6.125%
N/A
(4)
BB+
18,693,227
45,445
NatWest
Group
PLC
6.000%
N/A
(4)
Baa3
42,614,270
41,929
NatWest
Group
PLC
8.000%
N/A
(4)
BBB-
41,713,066
24,375
Nordea
Bank
Abp,
144A
(3)
6.625%
N/A
(4)
BBB+
23,601,899
22,820
Societe
Generale
SA,
144A
4.750%
N/A
(4)
BB+
19,741,004
16,411
Societe
Generale
SA,
144A
(3)
6.750%
N/A
(4)
BB
14,970,992
Principal
Amount
(000)
Description
(1),(6)
Coupon
Maturity
Ratings
(2)
Value
Banks
(continued)
$
35,790
Societe
Generale
SA,
144A
7.875%
N/A
(4)
BB+
$
35,700,525
10,183
Societe
Generale
SA,
144A
8.000%
N/A
(4)
BB
10,131,900
17,349
Standard
Chartered
PLC,
144A
7.750%
N/A
(4)
BBB-
17,295,955
18,860
Standard
Chartered
PLC,
144A
(3)
4.300%
N/A
(4)
BBB-
15,316,206
3,401
Standard
Chartered
PLC,
144A
6.000%
N/A
(4)
BBB-
3,274,641
22,974
UniCredit
SpA
,
Reg
S
8.000%
N/A
(4)
BB-
22,330,728
Total
Banks
1,228,669,242
Capital
Markets
-
8.9%
49,069
Credit
Suisse
Group
AG,
144A
7.500%
N/A
(4)
BB-
42,874,039
62,450
Credit
Suisse
Group
AG,
144A
7.250%
N/A
(4)
BB-
45,985,682
61,301
Credit
Suisse
Group
AG,
144A
7.500%
N/A
(4)
BB-
55,739,773
12,260
Credit
Suisse
Group
AG,
144A
6.375%
N/A
(4)
Ba2
9,056,135
36,075
Credit
Suisse
Group
AG,
144A
9.750%
N/A
(4)
BB-
32,644,267
80,985
Deutsche
Bank
AG
6.000%
N/A
(4)
Ba2
73,402,374
61,380
UBS
Group
AG
,
Reg
S
6.875%
N/A
(4)
BBB
60,362,442
57,277
UBS
Group
AG
,
Reg
S
7.000%
N/A
(4)
BBB
56,919,019
67,835
UBS
Group
AG,
144A
7.000%
N/A
(4)
BBB
67,508,245
24,125
UBS
Group
AG,
144A
3.875%
N/A
(4)
BBB
20,339,585
7,560
UBS
Group
AG,
144A
4.875%
N/A
(4)
BBB
6,622,560
Total
Capital
Markets
471,454,121
Total
Contingent
Capital
Securities
(cost
$1,817,704,459)
1,700,123,363
Shares
Description
(1)
Coupon
Ratings
(2)
Value
X
908,880,318
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
16.9%
X
908,880,318
Banks
-
4.3%
168,671
CoBank
ACB
6.200%
BBB+
$
16,867,100
572,086
Farm
Credit
Bank
of
Texas,
144A
6.750%
Baa1
57,065,578
563,126
Fifth
Third
Bancorp
(3)
6.625%
Baa3
14,162,619
280,000
Huntington
Bancshares
Inc/OH
7.662%
Baa3
6,113,520
285,287
KeyCorp
6.125%
Baa3
7,160,704
2,531,908
KeyCorp
6.200%
Baa3
62,917,914
745,483
Regions
Financial
Corp
6.375%
Baa3
19,084,365
302,269
Regions
Financial
Corp
(3)
5.700%
Baa3
7,435,817
610,175
Synovus
Financial
Corp
5.875%
BB-
15,010,305
342,966
Wells
Fargo
&
Co
4.750%
Baa2
6,879,898
327,000
Western
Alliance
Bancorp
4.250%
Ba1
6,932,400
484,833
Wintrust
Financial
Corp
6.875%
BB
12,445,663
Total
Banks
232,075,883
Capital
Markets
-
1.8%
201,090
Goldman
Sachs
Group
Inc
5.500%
BB+
5,019,206
552,788
Morgan
Stanley
6.875%
BBB
14,007,648
548,497
Morgan
Stanley
6.375%
BBB
13,915,369
725,688
Morgan
Stanley
7.125%
BBB
18,519,558
1,379,881
Morgan
Stanley
5.850%
BBB
34,566,019
420,900
Morgan
Stanley
(3)
6.500%
BBB
10,758,204
Total
Capital
Markets
96,786,004
Consumer
Finance
-
0.1%
350,835
Synchrony
Financial
5.625%
BB-
6,602,715
Total
Consumer
Finance
6,602,715
Diversified
Financial
Services
-
1.5%
366,034
AgriBank
FCB
6.875%
BBB+
36,969,434
558,300
Equitable
Holdings
Inc
5.250%
BBB-
12,310,515
1,158,054
Voya
Financial
Inc
5.350%
BBB-
27,851,199
Total
Diversified
Financial
Services
77,131,148
Nuveen
Preferred
Securities
and
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Shares
Description
(1)
Coupon
Ratings
(2)
Value
Diversified
Telecommunication
Services
-
0.1%
314,900
AT&T
Inc
(3)
4.750%
BBB-
$
6,282,255
Total
Diversified
Telecommunication
Services
6,282,255
Food
Products
-
1.3%
528,896
CHS
Inc
6.750%
N/R
13,592,627
1,451,502
CHS
Inc
7.100%
N/R
37,303,601
506,287
CHS
Inc
7.875%
N/R
13,092,582
44,881
CHS
Inc
7.500%
N/R
1,179,473
66,700
Dairy
Farmers
of
America
Inc,
144A
7.875%
BB+
6,169,750
Total
Food
Products
71,338,033
Insurance
-
5.1%
60,000
Allstate
Corp/The
(3)
7.995%
Baa1
1,524,000
1,153,711
American
Equity
Investment
Life
Holding
Co
6.625%
BB
28,069,789
1,516,728
American
Equity
Investment
Life
Holding
Co
(3)
5.950%
BB
33,868,536
1,320,871
Aspen
Insurance
Holdings
Ltd
(3)
5.950%
BB+
33,034,984
603,290
Aspen
Insurance
Holdings
Ltd
5.625%
BB+
13,212,051
229,700
Assurant
Inc
5.250%
Baa3
5,030,430
910,581
Athene
Holding
Ltd
7.750%
BBB
23,702,423
856,816
Athene
Holding
Ltd
6.375%
BBB
21,600,331
1,074,674
Athene
Holding
Ltd
6.350%
BBB
26,576,688
171,383
Axis
Capital
Holdings
Ltd
5.500%
BBB
3,749,860
236,820
Delphi
Financial
Group
Inc
8.054%
BBB
5,387,655
717,116
Enstar
Group
Ltd
7.000%
BBB-
16,895,253
1,026,075
Maiden
Holdings
North
America
Ltd
7.750%
N/R
19,546,729
763,405
Reinsurance
Group
of
America
Inc
5.750%
BBB+
19,672,947
556,200
Reinsurance
Group
of
America
Inc
7.125%
BBB+
14,644,746
221,929
Selective
Insurance
Group
Inc
4.600%
BBB-
4,036,888
Total
Insurance
270,553,310
Multi-Utilities
-
0.1%
143,700
NiSource
Inc
6.500%
BBB-
3,608,307
Total
Multi-Utilities
3,608,307
Oil,
Gas
&
Consumable
Fuels
-
1.4%
258,400
Energy
Transfer
LP
7.600%
BB
6,286,872
832,558
NuStar
Energy
LP
11.502%
B2
21,072,043
1,237,707
NuStar
Energy
LP
10.379%
B2
30,088,657
753,936
NuStar
Logistics
LP
11.526%
B
19,526,942
Total
Oil,
Gas
&
Consumable
Fuels
76,974,514
Thrifts
&
Mortgage
Finance
-
0.7%
391,400
Federal
Agricultural
Mortgage
Corp
(3)
6.000%
N/R
11,013,996
1,141,927
New
York
Community
Bancorp
Inc
6.375%
Ba2
28,251,274
Total
Thrifts
&
Mortgage
Finance
39,265,270
Investments
in
Derivatives
Shares
Description
(1)
Coupon
Ratings
(2)
Value
Trading
Companies
&
Distributors
-
0.5%
844,551
Air
Lease
Corp
6.150%
BB+
$
20,742,173
271,800
WESCO
International
Inc
10.625%
B+
7,520,706
Total
Trading
Companies
&
Distributors
28,262,879
Total
$25
Par
(or
similar)
Retail
Preferred
(cost
$936,679,256)
908,880,318
Total
Long-Term
Investments
(cost
$5,544,576,408)
5,258,921,211
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
2.2
%
X
117,883,151
MONEY
MARKET
FUNDS
-
2.2%
X
117,883,151
117,883,151
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(7)
4.600%(8)
$
117,883,151
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$117,883,151)
117,883,151
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
0.5%
27,440,640
REPURCHASE
AGREEMENTS
-
0.5%
27,440,640
$
27,441
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
2/28/23,
repurchase
price
$27,441,677
collateralized
$33,601,200,
U.S.
Treasury
Bond,
3.000%,
due
8/15/48,
value
$27,989,509
1.360%
3/01/23
$
27,440,640
Total
Short-Term
Investments
(cost
$27,440,640)
27,440,640
Total
Investments
(cost
$
5,689,900,199
)
-
100
.7
%
5,404,245,002
Other
Assets
&
Liabilities,
Net
- (0.7)%(9)
(
35,579,573
)
Net
Assets
-
100%
$
5,368,665,429
Futures
Contracts
-
Long
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
Unrealized
Appreciation
(Depreciation)
U.S.
Treasury
10-Year
Note
1,950
6/23
$
217,856,869
$
217,729,688
$
(
127,181
)
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.
(2)
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.
(3)
Investment,
or
a
portion
of
investment,
is
out
on
loan
for
securities
lending.
The
total
value
of
the
securities
out
on
loan
as
of
the
end
of
the
reporting
period
was
$113,398,115.
(4)
Perpetual
security.
Maturity
date
is
not
applicable.
(5)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(6)
Contingent
Capital
Securities
(“CoCos”)
are
hybrid
securities
with
loss
absorption
characteristics
built
into
the
terms
of
the
security
for
the
benefit
of
the
issuer.
For
example,
the
terms
may
specify
an
automatic
write-down
of
principal
or
a
mandatory
conversion
into
the
issuer’s
common
stock
under
certain
adverse
circumstances,
such
as
the
issuer’s
capital
ratio
falling
below
a
specified
level.
(7)
The
Fund
may
loan
securities
representing
up
to
one
third
of
the
market
value
of
its
total
assets
(which
includes
collateral
for
securities
on
loan)
to
broker
dealers,
banks,
and
other
institutions.
The
collateral
maintained
by
the
Fund
shall
have
a
market
value,
at
the
inception
of
each
loan,
equal
to
not
less
than
100%
of
the
market
value
of
the
loaned
securities.
The
cash
collateral
received
by
the
Fund
is
invested
in
this
money
market
fund.
(8)
The
rate
shown
is
the
one-day
yield
as
of
the
end
of
the
reporting
period.
(9)
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.
The
unrealized
appreciation
(depreciation)
of
OTC
cleared
and
exchange-
traded
derivatives
is
recognized
as
part
of
the
cash
collateral
at
brokers
and/or
the
receivable
or
payable
for
variation
margin
as
presented
on
the
Statement
of
Assets
and
Liabilities,
when
applicable.
Nuveen
Preferred
Securities
and
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
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.
LIBOR
London
Inter-Bank
Offered
Rate
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.
See
Notes
to
Financial
Statements
Nuveen
Strategic
Income
Fund
Portfolio
of
Investments
February
28,
2023
(Unaudited)
a
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
LONG-TERM
INVESTMENTS
-
96.6%
X
307,948,798.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
-
46.8%
X
307,948,798
$
1,291
Aaset
2021-2
Trust
,
144A
2021
2A
2.798%
1/15/47
A1
$
1,088,672
600
ACRE
Commercial
Mortgage
2021-FL4
Ltd
,
144A
(1-Month
LIBOR
reference
rate
+
2.600%
spread)
2021
FL4
(3)
7.191%
12/18/37
N/R
575,233
1,548
Adams
Outdoor
Advertising
LP
,
144A
2018
1
4.810%
11/15/48
A
1,460,774
1,500
Adams
Outdoor
Advertising
LP
,
144A
2018
1
7.356%
11/15/48
BB
1,336,914
750
Affirm
Asset
Securitization
Trust
2021-B
,
144A
2021
B
2.540%
8/17/26
N/R
663,724
1,400
AGL
CLO
19
Ltd
,
144A
(TSFR3M
reference
rate
+
2.750%
spread)
2022
19A
(3)
7.403%
7/21/35
AA
1,399,751
2,500
Alen
2021-ACEN
Mortgage
Trust
,
144A
(1-Month
LIBOR
reference
rate
+
4.000%
spread)
2021
ACEN
(3)
8.588%
4/15/34
BB-
1,842,576
647
Ameriquest
Mortgage
Securities
Inc
Asset
Back
Ser
2004-
R1
(1-Month
LIBOR
reference
rate
+
0.600%
spread)
2004
R1
(3)
2.788%
2/25/34
A
589,593
1,000
AMSR
2019-SFR1
Trust
,
144A
2019
SFR1
3.247%
1/19/39
A1
902,703
1,482
AMSR
2020-SFR1
Trust
,
144A
2020
SFR1
2.419%
4/17/37
Aa2
1,368,312
1,000
Angel
Oak
Mortgage
Trust
2019-5
,
144A
2019
5
3.957%
10/25/49
BB+
854,381
1,900
Angel
Oak
Mortgage
Trust
2020-1
,
144A
2020
1
3.161%
12/25/59
A-
1,637,767
441
Arroyo
Mortgage
Trust
2019-3
,
144A
2019
3
3.416%
10/25/48
AA-
407,264
1,300
Ashford
Hospitality
Trust
2018-KEYS
,
144A
(1-Month
LIBOR
reference
rate
+
1.850%
spread)
2018
KEYS
(3)
6.438%
6/15/35
A3
1,254,849
850
Avis
Budget
Rental
Car
Funding
AESOP
LLC
,
144A
2021
1A
2.130%
8/20/27
BBB
721,773
1,750
Avis
Budget
Rental
Car
Funding
AESOP
LLC
,
144A
2021
2A
4.080%
2/20/28
Ba2
1,432,851
2,000
BAMLL
Commercial
Mortgage
Securities
Trust
2022-
DKLX
,
144A
(TSFR1M
reference
rate
+
3.000%
spread)
2022
DKLX
(3)
7.563%
1/15/39
Baa3
1,928,730
1,115
BANK
2017-BNK5
2017
BNK5
4.191%
6/15/60
A-
965,764
700
BANK
2017-BNK8
2017
BNK8
4.096%
11/15/50
A-
590,245
2,700
BANK
2019-BNK18
2019
BN18
4.214%
5/15/62
A-
2,226,544
2,500
BANK
2019-BNK21
,
144A
2019
BN21
2.500%
10/17/52
BBB
1,568,185
1,250
BANK
2019-BNK24
2019
BN24
2.929%
11/15/62
AAA
1,140,228
1,700
Benchmark
2018-B2
Mortgage
Trust
2018
B2
4.271%
2/15/51
A-
1,428,132
1,000
Benchmark
2018-B5
Mortgage
Trust
2018
B5
4.208%
7/15/51
AAA
952,088
1,000
Benchmark
2019-B14
Mortgage
Trust
,
144A
2019
B14
2.500%
12/15/62
BBB
616,941
1,500
Benchmark
2020-B18
Mortgage
Trust
,
144A
2020
B18
4.139%
7/15/53
B-
1,263,754
1,000
Benchmark
2020-IG2
Mortgage
Trust
,
144A
2020
IG2
2.791%
9/15/48
Aaa
817,396
1,000
Benchmark
2020-IG3
Mortgage
Trust
,
144A
2020
IG3
3.536%
9/15/48
N/R
864,568
297
Bojangles
Issuer
LLC
,
144A
2020
1A
3.832%
10/20/50
N/R
269,274
2,625
Boyce
Park
Clo
Ltd
,
144A
(SOFR
reference
rate
+
3.100%
spread)
2022
1A
(3)
7.753%
4/21/35
BBB-
2,476,029
1,275
BX
Commercial
Mortgage
Trust
2019-XL
,
144A
(1-Month
LIBOR
reference
rate
+
2.114%
spread)
2019
XL
(3)
2.110%
10/15/36
N/R
1,247,808
1,622
BX
Commercial
Mortgage
Trust
2021-XL2
,
144A
(1-Month
LIBOR
reference
rate
+
1.846%
spread)
2021
XL2
(3)
6.434%
10/15/38
N/R
1,555,474
1,095
BXP
Trust
2017-CC
,
144A
2017
CC
3.552%
8/13/37
BBB-
867,051
1,500
BXP
Trust
2021-601L
,
144A
2021
601L
2.775%
1/15/44
Baa3
993,369
495
Cars
Net
Lease
Mortgage
Notes
Series
2020-1
,
144A
2020
1A
3.100%
12/15/50
A
429,608
1,250
Cars
Net
Lease
Mortgage
Notes
Series
2020-1
,
144A
2020
1A
4.690%
12/15/50
BBB
1,076,550
1,150
CARS-DB4
LP
,
144A
2020
1A
4.520%
2/15/50
BBB
1,016,517
634
CARS-DB5
LP
,
144A
2021
1A
1.920%
8/15/51
A+
543,635
1,775
Carvana
Auto
Receivables
Trust
2021-N4
2021
N4
2.300%
9/11/28
BBB
1,632,438
705
CD
2016-CD1
Mortgage
Trust
2016
CD1
3.631%
8/10/49
A-
587,421
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X307,948,798.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
(continued)
$
1,440
CD
2017-CD3
Mortgage
Trust
2017
CD3
3.984%
2/10/50
A
$
1,233,668
49
CF
2020-P1
Mortgage
Trust
,
144A
2020
P1
2.840%
4/15/25
N/R
46,774
750
CF
2020-P1
Mortgage
Trust
,
144A
2020
P1
3.603%
4/15/52
N/R
689,136
677
CF
Hippolyta
Issuer
LLC
,
144A
2020
1
2.600%
7/15/60
A-
561,252
1,354
CF
Hippolyta
Issuer
LLC
,
144A
2020
1
2.280%
7/15/60
A-
1,201,500
1,000
CIFC
Funding
2018-II
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
2.850%
spread)
2018
2A
(3)
5.560%
4/20/31
Baa3
944,218
2,000
CIFC
Funding
2020-I
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
2.000%
spread)
2020
1A
(3)
6.792%
7/15/36
A
1,913,182
2,125
CIFC
Funding
2020-I
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
3.100%
spread)
2020
1A
(3)
7.892%
7/15/36
BBB-
2,007,156
500
CIFC
Funding
2020-I
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
6.250%
spread)
2020
1A
(3)
11.042%
7/15/36
Ba3
451,999
1,760
CIFC
Funding
2020-II
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
3.050%
spread)
2020
2A
(3)
7.858%
10/20/34
BBB-
1,654,844
1,305
CIFC
Funding
2020-II
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
2.050%
spread)
2020
2A
(3)
6.858%
10/20/34
A
1,249,022
385
CIFC
Funding
2020-II
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
6.500%
spread)
2020
2A
(3)
11.308%
10/20/34
BB-
349,910
2,500
CIFC
Funding
2022-IV
Ltd
,
144A
(SOFR
reference
rate
+
3.550%
spread)
2022
4A
(3)
8.208%
7/16/35
BBB-
2,372,385
1,000
Citigroup
Commercial
Mortgage
Trust
2014-GC23
,
144A
2014
GC23
4.480%
7/10/47
BBB-
882,192
2,750
Citigroup
Commercial
Mortgage
Trust
2015-GC29
2015
GC29
3.758%
4/10/48
AA-
2,571,991
1,690
Citigroup
Commercial
Mortgage
Trust
2015-GC29
2015
GC29
4.140%
4/10/48
A-
1,546,252
850
Citigroup
Commercial
Mortgage
Trust
2021-PRM2
,
144A
(1-Month
LIBOR
reference
rate
+
1.900%
spread)
2021
PRM2
(3)
6.488%
10/15/38
BBB-
823,122
1,770
Cologix
Data
Centers
US
Issuer
LLC
,
144A
2021
1A
3.300%
12/26/51
N/R
1,561,102
2,000
COMM
2013-CCRE10
Mortgage
Trust
,
144A
2013
CR10
4.861%
8/10/46
Baa3
1,917,392
1,500
COMM
2014-CCRE17
Mortgage
Trust
2014
CR17
4.377%
5/10/47
AA-
1,427,510
1,500
COMM
2014-CCRE19
Mortgage
Trust
,
144A
2014
CR19
4.697%
8/10/47
BBB-
1,369,283
1,400
COMM
2014-LC17
Mortgage
Trust
2014
LC17
4.544%
10/10/47
A
1,315,323
3,150
Comm
2014-UBS2
Mortgage
Trust
2014
UBS2
4.947%
3/10/47
Baa1
2,981,317
2,000
COMM
2014-UBS3
Mortgage
Trust
2014
UBS3
4.736%
6/10/47
A3
1,847,449
2,000
COMM
2014-UBS3
Mortgage
Trust
,
144A
2014
UBS3
4.767%
6/10/47
N/R
1,435,462
1,840
COMM
2015-CCRE22
Mortgage
Trust
2015
CR22
4.070%
3/10/48
A-
1,693,875
2,000
COMM
2015-CCRE22
Mortgage
Trust
,
144A
2015
CR22
3.000%
3/10/48
BB-
1,568,998
2,628
COMM
2015-CCRE23
Mortgage
Trust
2015
CR23
4.303%
5/10/48
N/R
2,198,781
1,000
COMM
2015-CCRE24
Mortgage
Trust
2015
CR24
4.345%
8/10/48
AA-
943,852
2,240
COMM
2015-CCRE24
Mortgage
Trust
2015
CR24
3.463%
8/10/48
BBB-
1,814,112
500
COMM
2015-CCRE24
Mortgage
Trust
2015
CR24
4.345%
8/10/48
A-
457,262
550
COMM
2015-CCRE25
Mortgage
Trust
2015
CR25
3.768%
8/10/48
BB
439,082
3,000
COMM
2015-CCRE26
Mortgage
Trust
2015
CR26
4.466%
10/10/48
A-
2,738,032
900
COMM
2015-LC23
Mortgage
Trust
2015
LC23
4.565%
10/10/48
A-
821,822
1,000
COMM
2019-GC44
Mortgage
Trust
2019
GC44
3.524%
8/15/57
A-
785,163
1,500
Commercial
Mortgage
Pass
Through
Certificates
,
144A
2022
HC
3.896%
1/10/39
Baa3
1,260,592
64
Connecticut
Avenue
Securities
Trust
2018-R07
,
144A
2018
R07
6.906%
4/25/31
AA-
63,764
625
Connecticut
Avenue
Securities
Trust
2021-R03
,
144A
(SOFR30A
reference
rate
+
5.500%
spread)
2021
R03
(3)
9.984%
12/25/41
N/R
561,938
850
Connecticut
Avenue
Securities
Trust
2022-R01
,
144A
(SOFR30A
reference
rate
+
6.000%
spread)
2022
R01
(3)
10.484%
12/25/41
N/R
761,339
3,250
Connecticut
Avenue
Securities
Trust
2022-R03
,
144A
(SOFR30A
reference
rate
+
6.250%
spread)
2022
R03
(3)
6.349%
3/25/42
BB-
3,405,774
4,000
Connecticut
Avenue
Securities
Trust
2022-R03
,
144A
(SOFR30A
reference
rate
+
3.500%
spread)
2022
R03
(3)
7.984%
3/25/42
BBB-
4,109,170
4,000
Connecticut
Avenue
Securities
Trust
2022-R04
,
144A
(SOFR30A
reference
rate
+
5.250%
spread)
2022
R04
(3)
9.734%
3/25/42
BB-
4,114,460
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X307,948,798.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
(continued)
$
1,880
Connecticut
Avenue
Securities
Trust
2022-R04
,
144A
(SOFR30A
reference
rate
+
3.100%
spread)
2022
R04
(3)
7.584%
3/25/42
BBB-
$
1,902,221
3,000
Connecticut
Avenue
Securities
Trust
2022-R05
,
144A
(SOFR30A
reference
rate
+
4.500%
spread)
2022
R05
(3)
6.014%
4/25/42
Ba2
2,963,029
4,000
Connecticut
Avenue
Securities
Trust
2022-R05
,
144A
(SOFR30A
reference
rate
+
7.000%
spread)
2022
R05
(3)
11.484%
4/25/42
B3
3,978,887
4,000
Connecticut
Avenue
Securities
Trust
2022-R06
,
144A
(SOFR30A
reference
rate
+
3.850%
spread)
2022
R06
(3)
8.334%
5/25/42
BBB-
4,110,810
2,090
Connecticut
Avenue
Securities
Trust
2022-R07
,
144A
(SOFR30A
reference
rate
+
4.650%
spread)
2022
R07
(3)
9.142%
6/25/42
BBB-
2,231,594
4,000
Connecticut
Avenue
Securities
Trust
2022-R08
,
144A
(SOFR30A
reference
rate
+
5.600%
spread)
2022
R08
(3)
9.528%
7/25/42
BB-
4,146,646
4,000
Connecticut
Avenue
Securities
Trust
2022-R09
,
144A
(SOFR30A
reference
rate
+
4.750%
spread)
2022
R09
(3)
9.242%
9/25/42
Baa3
4,215,511
3,000
Connecticut
Avenue
Securities
Trust
2023-R01
,
144A
(SOFR30A
reference
rate
+
3.750%
spread)
2023
R01
(3)
8.242%
12/25/42
BBB-
3,068,324
3,000
Crescendo
Royalty
Funding
LP
,
144A
2021
1
3.567%
12/20/51
N/R
2,646,972
1,000
CSMC
2021-NQM1
,
144A
2021
NQM1
2.130%
5/25/65
BBB
664,654
1,185
DB
Master
Finance
LLC
,
144A
2021
1A
2.045%
11/20/51
BBB
1,034,398
638
DB
Master
Finance
LLC
,
144A
2019
1A
4.021%
5/20/49
BBB
599,761
1,185
DB
Master
Finance
LLC
,
144A
2021
1A
2.493%
11/20/51
BBB
999,608
192
Diamond
Resorts
Owner
Trust
2021-1
,
144A
2021
1A
2.700%
11/21/33
BBB
174,643
192
Diamond
Resorts
Owner
Trust
2021-1
,
144A
2021
1A
3.830%
11/21/33
BB
171,968
30,450
DOLP
Trust
2021-NYC
,
144A
2021
NYC,
(I/O)
0.665%
5/10/41
A-
1,195,729
983
Domino's
Pizza
Master
Issuer
LLC
,
144A
2021
1A
2.662%
4/25/51
BBB+
841,331
1,470
DRIVEN
BRANDS
FUNDING
LLC
,
144A
2020
2A
3.237%
1/20/51
BBB-
1,251,066
1,614
DRIVEN
BRANDS
FUNDING
LLC
,
144A
2020
1A
3.786%
7/20/50
BBB-
1,422,936
2,985
EWC
Master
Issuer
LLC
,
144A
2022
1A
5.500%
3/15/52
N/R
2,680,175
1,562
Extended
Stay
America
Trust
,
144A
(1-Month
LIBOR
reference
rate
+
1.080%
spread)
2021
ESH
(3)
1.164%
7/15/38
Aaa
1,540,245
3,306
Fannie
Mae
Connecticut
Avenue
Securities
2017
C06
1.800%
2/25/30
AA+
48,198
1,961
Fannie
Mae
Pool
FN
MA4805
2022
1
,
(WI/DD)
4.500%
11/01/52
N/R
1,890,633
1,991
Fannie
Mae
Pool
FN
MA4919
,
(WI/DD)
5.500%
2/01/53
N/R
1,988,701
16
Fannie
Mae
Pool
FN
256890
FN
256890
6.000%
9/01/37
N/R
16,439
22
Fannie
Mae
Pool
FN
745101
FN
745101
6.000%
4/01/32
N/R
22,047
65
Fannie
Mae
Pool
FN
745324
FN
745324
6.000%
3/01/34
N/R
64,625
1
Fannie
Mae
Pool
FN
905597
FN
905597
(12-Month
LIBOR
reference
rate
+
1.875%
spread)
(3)
4.125%
12/01/36
N/R
716
11
Fannie
Mae
Pool
FN
946228
FN
946228
(12-Month
LIBOR
reference
rate
+
1.587%
spread)
(3)
3.837%
9/01/37
N/R
11,034
0
(4)
Fannie
Mae
Pool
FN
AL1187
FN
AL1187
5.500%
7/01/24
N/R
3
21
Fannie
Mae
Pool
FN
FM1108
FN
FM1108
2019
1108
5.000%
11/01/44
N/R
21,596
142
Fannie
Mae
Pool
FN
FM1136
FN
FM1136
2019
1136
5.500%
3/01/39
N/R
145,391
25
Fannie
Mae
Pool
FN
FM1137
FN
FM1137
2019
1137
6.000%
9/01/39
N/R
26,276
104
Fannie
Mae
Pool
FN
FM1138
FN
FM1138
2019
1138
6.500%
8/01/37
N/R
107,230
187
Fannie
Mae
REMICS
(1-Month
LIBOR
reference
rate
+
5.950%
spread)
2013
98,
(I/O)
(3)
1.333%
9/25/43
N/R
17,408
87
Flagstar
Mortgage
Trust
2017-2
,
144A
2017
2
4.036%
10/25/47
Aa2
76,650
1,320
Flagstar
Mortgage
Trust
2021-10INV
,
144A
2021
10INV
3.000%
10/25/51
Aa1
1,080,827
2,657
Flagstar
Mortgage
Trust
2021-4
,
144A
2021
4
2.500%
6/01/51
AAA
2,079,968
2,000
Flexential
Issuer
2021-1
,
144A
2021
1A
3.250%
11/27/51
N/R
1,780,736
11,541
Freddie
Mac
Multifamily
ML
Certificates
2021
ML12,
(I/O)
1.222%
7/25/41
AA+
1,181,231
1,005
Freddie
Mac
STACR
REMIC
Trust
2021-DNA5
,
144A
(SOFR30A
reference
rate
+
1.650%
spread)
2021
DNA5
(3)
6.134%
1/25/34
BBB
1,000,808
2,000
Freddie
Mac
STACR
REMIC
Trust
2021-DNA6
,
144A
(SOFR30A
reference
rate
+
7.500%
spread)
2021
DNA6
(3)
11.984%
10/25/41
N/R
1,848,352
2,000
Freddie
Mac
STACR
REMIC
Trust
2022-DNA1
,
144A
(SOFR30A
reference
rate
+
3.400%
spread)
2022
DNA1
(3)
7.884%
1/25/42
B+
1,864,629
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X307,948,798.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
(continued)
$
2,550
Freddie
Mac
STACR
REMIC
Trust
2022-DNA1
,
144A
(SOFR30A
reference
rate
+
2.500%
spread)
2022
DNA1
(3)
6.984%
1/25/42
BB
$
2,389,153
1,730
Freddie
Mac
STACR
REMIC
Trust
2022-DNA2
,
144A
(SOFR30A
reference
rate
+
3.750%
spread)
2022
DNA2
(3)
8.234%
2/25/42
BB
1,706,940
1,355
Freddie
Mac
STACR
REMIC
Trust
2022-DNA2
,
144A
(SOFR30A
reference
rate
+
4.750%
spread)
2022
DNA2
(3)
9.234%
2/25/42
B+
1,317,191
1,239
Freddie
Mac
STACR
REMIC
Trust
2022-DNA2
,
144A
(SOFR30A
reference
rate
+
2.400%
spread)
2022
DNA2
(3)
6.884%
2/25/42
BBB
1,212,554
3,605
Freddie
Mac
STACR
REMIC
Trust
2022-DNA3
,
144A
(SOFR30A
reference
rate
+
2.900%
spread)
2022
DNA3
(3)
7.384%
4/25/42
BBB
3,613,927
4,000
Freddie
Mac
STACR
REMIC
Trust
2022-DNA3
,
144A
(SOFR30A
reference
rate
+
4.350%
spread)
2022
DNA3
(3)
8.834%
4/25/42
BB
4,040,889
4,000
Freddie
Mac
STACR
REMIC
Trust
2022-DNA3
,
144A
(SOFR30A
reference
rate
+
5.650%
spread)
2022
DNA3
(3)
8.647%
4/25/42
B+
3,992,588
4,000
Freddie
Mac
STACR
REMIC
Trust
2022-DNA6
,
144A
(SOFR30A
reference
rate
+
3.700%
spread)
2022
DNA6
(3)
8.184%
9/25/42
BBB-
4,153,654
2,900
Freddie
Mac
STACR
REMIC
Trust
2022-HQA1
,
144A
(SOFR30A
reference
rate
+
7.000%
spread)
2022
HQA1
(3)
9.997%
3/25/42
B-
2,888,090
920
Freddie
Mac
STACR
REMIC
Trust
2022-HQA1
,
144A
(SOFR30A
reference
rate
+
3.500%
spread)
2022
HQA1
(3)
7.984%
3/25/42
BBB-
940,551
142
Freddie
Mac
Strips
(1-Month
LIBOR
reference
rate
+
5.920%
spread)
2014
327,
(I/O)
(3)
1.332%
3/15/44
N/R
11,393
1,575
Freddie
Mac
Structured
Agency
Credit
Risk
Debt
Notes
,
144A
(SOFR30A
reference
rate
+
3.650%
spread)
2021
DNA7
(3)
7.578%
11/25/41
B+
1,502,881
4,000
Freddie
Mac
Structured
Agency
Credit
Risk
Debt
Notes
,
144A
(SOFR30A
reference
rate
+
4.000%
spread)
2022
HQA2
(3)
8.484%
7/25/42
Baa3
4,130,023
6,576
Freddie
Mac
Structured
Agency
Credit
Risk
Debt
Notes
2017
HQA2
2.000%
12/25/29
A
347,930
500
Goldentree
Loan
Opportunities
IX
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
5.660%
spread)
2014
9A
(3)
10.462%
10/29/29
BB-
450,756
7,714
Government
National
Mortgage
Association
(SOFR30A
reference
rate
+
6.250%
spread)
2020
133,
(I/O)
(3)
1.824%
9/20/50
N/R
976,705
1,200
GS
Mortgage
Securities
Corp
Trust
2017-SLP
,
144A
2017
SLP
4.591%
10/10/32
B
1,142,305
1,500
GS
Mortgage
Securities
Corp
Trust
2018-TWR
,
144A
(1-Month
LIBOR
reference
rate
+
1.850%
spread)
2018
TWR
(3)
6.438%
7/15/31
BB
1,236,375
1,081
GS
Mortgage
Securities
Corp
Trust
2018-TWR
,
144A
(1-Month
LIBOR
reference
rate
+
1.450%
spread)
2018
TWR
(3)
3.449%
7/15/31
A
954,069
2,000
GS
Mortgage
Securities
Corp
Trust
2021-ARDN
,
144A
(1-Month
LIBOR
reference
rate
+
3.350%
spread)
2021
ARDN
(3)
7.938%
11/15/36
N/R
1,929,846
2,000
GS
Mortgage
Securities
Corp
Trust
2021-ARDN
,
144A
(1-Month
LIBOR
reference
rate
+
1.250%
spread)
2021
ARDN
(3)
5.838%
11/15/36
AAA
1,962,085
1,000
GS
Mortgage
Securities
Trust
2016-GS3
2016
GS3
3.990%
10/10/49
A-
856,518
1,200
GS
Mortgage
Securities
Trust
2016-GS4
2016
GS4
3.954%
11/10/49
A-
1,000,314
1,425
GS
Mortgage
Securities
Trust
2019-GC38
2019
GC38
4.158%
2/10/52
AAA
1,302,324
1,000
GS
Mortgage
Securities
Trust
2020-GSA2
2020
GSA2
2.012%
12/12/53
AAA
795,376
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X307,948,798.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
(continued)
$
141
GS
Mortgage-Backed
Securities
Corp
Trust
2019-PJ2
,
144A
2019
PJ2
4.000%
11/25/49
Aaa
$
132,279
7
GS
Mortgage-Backed
Securities
Corp
Trust
2019-PJ2
,
144A
2019
PJ2
4.000%
11/25/49
Aaa
6,372
171
GS
Mortgage-Backed
Securities
Corp
Trust
2021-PJ5
,
144A
2021
PJ5
2.500%
10/25/51
Aa1
133,763
2,600
GS
Mortgage-Backed
Securities
Trust
2021-PJ6
,
144A
2021
PJ6
2.500%
11/25/51
Aa1
2,035,629
1,750
GS
Mortgage-Backed
Securities
Trust
2021-PJ7
,
144A
2021
PJ7
2.500%
1/25/52
AA+
1,370,287
355
GS
Mortgage-Backed
Securities
Trust
2021-PJ8
,
144A
2021
PJ8
2.500%
1/25/52
Aaa
277,695
2,940
Hardee's
Funding
LLC
,
144A
2020
1A
3.981%
12/20/50
BBB
2,543,891
750
Hertz
Vehicle
Financing
LLC
,
144A
2021
1A
2.050%
12/26/25
Baa2
690,808
1,000
HI-FI
Music
IP
Issuer
LP
,
144A
2022
1A
3.939%
2/01/62
N/R
905,438
474
Hilton
Grand
Vacations
Trust
2019-A
,
144A
2019
AA
2.840%
7/25/33
A-
437,832
1,945
Horizon
Aircraft
Finance
II
Ltd
,
144A
2019
1
3.721%
7/15/39
BBB
1,653,284
890
Horizon
Aircraft
Finance
III
Ltd
,
144A
2019
2
3.425%
11/15/39
BBB+
711,662
1,000
Hotwire
Funding
LLC
,
144A
2021
1
2.658%
11/20/51
BBB
837,894
1,025
Hpefs
Equipment
Trust
2022-2
,
144A
2022
2A
4.940%
3/20/30
Aa3
985,953
500
Hudson
Yards
2019-30HY
Mortgage
Trust
,
144A
2019
30HY
3.443%
7/10/39
BBB-
409,528
1,000
Hudson
Yards
2019-55HY
Mortgage
Trust
,
144A
2019
55HY
2.943%
12/10/41
N/R
696,091
522
Impac
Secured
Assets
CMN
Owner
Trust
2000
3
8.000%
10/25/30
N/R
458,999
373
Imperial
Fund
Mortgage
Trust
2020-NQM1
,
144A
2020
NQM1
2.051%
10/25/55
AA-
331,736
2,000
Imperial
Fund
Mortgage
Trust
2020-NQM1
,
144A
2020
NQM1
3.531%
10/25/55
BBB+
1,678,132
450
Imperial
Fund
Mortgage
Trust
2021-NQM1
,
144A
2021
NQM1
2.383%
6/25/56
BBB
294,351
405
Imperial
Fund
Mortgage
Trust
2021-NQM1
,
144A
2021
NQM1
1.617%
6/25/56
A
331,184
1,250
Industrial
DPR
Funding
Ltd
,
144A
2022
1A
5.380%
4/15/34
BBB
1,050,838
2,488
J.P.
Morgan
Chase
Commercial
Mortgage
Securities
Trust
2022-NLP
,
144A
(TSFR1M
reference
rate
+
2.608%
spread)
2022
NLP
(3)
6.943%
4/15/37
N/R
2,237,475
1,702
Jonah
Energy
Abs
I
LLC
,
144A
2022
1
7.200%
11/20/37
A-
1,686,677
189
JP
Morgan
Alternative
Loan
Trust
2007-S1
(1-Month
LIBOR
reference
rate
+
0.560%
spread)
2007
S1
(3)
5.177%
4/25/47
BBB+
178,769
392
JP
Morgan
Mortgage
Trust
2018-3
,
144A
2018
3
3.500%
9/25/48
Aaa
332,233
126
JP
Morgan
Mortgage
Trust
2018-4
,
144A
2018
4
3.500%
10/25/48
Aaa
105,654
520
JP
MORGAN
MORTGAGE
TRUST
2018-5
,
144A
2018
5
3.500%
10/25/48
Aaa
448,203
878
JP
Morgan
Mortgage
Trust
2018-6
,
144A
2018
6
3.893%
12/25/48
Baa3
726,747
87
JP
Morgan
Mortgage
Trust
2019-1
,
144A
2019
1
4.000%
5/25/49
AAA
81,147
39
JP
Morgan
Mortgage
Trust
2019-INV1
,
144A
(1-Month
LIBOR
reference
rate
+
0.950%
spread)
2019
INV1
(3)
5.456%
10/25/49
Aaa
37,462
234
JP
Morgan
Mortgage
Trust
2020-1
,
144A
2020
1
3.832%
6/25/50
Aa1
197,301
430
JP
Morgan
Mortgage
Trust
2021-11
,
144A
2021
11
2.500%
1/25/52
Aa1
337,753
296
JP
Morgan
Mortgage
Trust
2021-7
,
144A
2021
7
2.500%
11/25/51
Aaa
232,112
194
JP
Morgan
Mortgage
Trust
2021-8
,
144A
2021
8
2.500%
12/25/51
AAA
152,284
1,692
JPMBB
Commercial
Mortgage
Securities
Trust
2014-C22
2014
C22
4.547%
9/15/47
BBB
1,490,718
2,500
JPMBB
Commercial
Mortgage
Securities
Trust
2015-C31
2015
C31
4.622%
8/15/48
N/R
2,195,920
1,400
JPMBB
Commercial
Mortgage
Securities
Trust
2016-C1
,
144A
2016
C1
4.236%
3/17/49
BBB
1,173,267
1,500
JPMCC
Commercial
Mortgage
Securities
Trust
2017-JP5
2017
JP5
3.723%
3/15/50
Aaa
1,402,287
2,000
JPMCC
Commercial
Mortgage
Securities
Trust
2017-JP6
2017
JP6
3.707%
7/15/50
A-
1,619,904
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X307,948,798.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
(continued)
$
1,400
JPMCC
Commercial
Mortgage
Securities
Trust
2017-JP7
,
144A
2017
JP7
4.383%
9/15/50
BBB
$
1,001,741
1,335
JPMCC
Commercial
Mortgage
Securities
Trust
2017-JP7
2017
JP7
3.633%
9/15/50
A-
1,113,512
190
Ladder
Capital
Commercial
Mortgage
2013-GCP
Mortgage
Trust
,
144A
2013
GCP
3.985%
2/15/36
AAA
171,542
1,574
Lunar
2021-1
Structured
Aircraft
Portfolio
Notes
,
144A
2021
1
5.682%
10/15/46
Ba3
1,227,293
1,500
Madison
Park
Funding
LIX
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
2.100%
spread)
2021
59A
(3)
6.895%
1/18/34
A+
1,445,584
1,500
Madison
Park
Funding
XXXVI
Ltd
,
144A
(TSFR3M
reference
rate
+
3.500%
spread)
2019
36A
(3)
5.981%
4/15/35
BBB+
1,469,258
1,500
Magnetite
XXIII
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
2.050%
spread)
2019
23A
(3)
6.868%
1/25/35
A
1,435,548
134
MAPS
2018-1
Ltd
,
144A
2018
1A
4.212%
5/15/43
BBB+
122,855
420
MAPS
2021-1
Trust
,
144A
2021
1A
2.521%
6/15/46
A1
362,046
1,000
Mercury
Financial
Credit
Card
Master
Trust
,
144A
2023
1A
9.590%
9/20/27
N/R
989,664
1,000
Mercury
Financial
Credit
Card
Master
Trust
,
144A
2023
1A
8.040%
9/20/27
N/R
991,964
34,356
MFT
Trust
2020-ABC
,
144A
2020
ABC,
(I/O)
0.119%
2/10/42
N/R
306,586
750
Morgan
Stanley
Capital
I
Trust
2018-H3
2018
H3
4.177%
7/15/51
AAA
707,060
274
Morgan
Stanley
Residential
Mortgage
Loan
Trust
2021-5
,
144A
2021
5
2.500%
8/25/51
AAA
215,628
2,000
MRCD
2019-MARK
Mortgage
Trust
,
144A
2019
PARK
2.718%
12/15/36
N/R
1,777,511
500
MSCG
Trust
2015-ALDR
,
144A
2015
ALDR
3.462%
6/07/35
BBB-
408,772
1,500
MSCG
Trust
2015-ALDR
,
144A
2015
ALDR
3.462%
6/07/35
A-
1,276,787
1,000
MTN
Commercial
Mortgage
Trust
2022-LPFL
,
144A
(TSFR1M
reference
rate
+
2.943%
spread)
2022
LPFL
(3)
2.993%
3/15/39
Baa3
975,443
634
MVW
2019-2
LLC
,
144A
2019
2A
2.680%
10/20/38
BBB+
577,028
263
MVW
2021-1W
LLC
,
144A
2021
1WA
1.940%
1/22/41
BBB
237,695
480
MVW
Owner
Trust
2019-1
,
144A
2019
1A
3.330%
11/20/36
BBB+
446,334
1,500
Natixis
Commercial
Mortgage
Securities
Trust
2019-MILE
,
144A
(1-Month
LIBOR
reference
rate
+
3.579%
spread)
2019
MILE
(3)
8.142%
7/15/36
N/R
1,363,939
1,500
Natixis
Commercial
Mortgage
Securities
Trust
2019-MILE
,
144A
(1-Month
LIBOR
reference
rate
+
4.329%
spread)
2019
MILE
(3)
8.892%
7/15/36
N/R
1,355,474
1,100
Navistar
Financial
Dealer
Note
Master
Owner
Trust
II
,
144A
(SOFR30A
reference
rate
+
1.800%
spread)
2022
1
(3)
6.234%
5/25/27
Aa1
1,104,942
1,000
Neuberger
Berman
Loan
Advisers
Clo
40
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
2.750%
spread)
2021
40A
(3)
7.542%
4/16/33
BBB-
941,004
660
Neuberger
Berman
Loan
Advisers
Clo
40
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
5.850%
spread)
2021
40A
(3)
10.642%
4/16/33
BB-
611,838
1,625
Neuberger
Berman
Loan
Advisers
CLO
48
Ltd
,
144A
(TSFR3M
reference
rate
+
3.200%
spread)
2022
48A
(3)
7.859%
4/25/36
BBB-
1,541,876
105
New
Residential
Mortgage
Loan
Trust
2015-2
,
144A
2015
2A
5.387%
8/25/55
Baa1
97,874
1,000
NLT
2021-INV2
Trust
,
144A
2021
INV2
2.569%
8/25/56
BBB
659,881
1,000
Oak
Street
Investment
Grade
Net
Lease
Fund
Series
2021-1
,
144A
2021
1A
4.230%
1/20/51
BBB+
895,052
45
OBX
2018-1
Trust
,
144A
(1-Month
LIBOR
reference
rate
+
0.650%
spread)
2018
1
(3)
5.267%
6/25/57
AAA
43,476
871
OBX
2021-J2
Trust
,
144A
2021
J2
2.500%
7/25/51
Aa1
681,791
2,175
OHA
Credit
Funding
4
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
3.200%
spread)
2019
4A
(3)
4.336%
10/22/36
BBB-
2,064,517
1,150
One
Bryant
Park
Trust
2019-OBP
,
144A
2019
OBP
2.516%
9/15/54
Aaa
953,575
500
Oportun
Funding
XIV
LLC
,
144A
2021
A
5.400%
3/08/28
N/R
454,025
500
Oportun
Funding
XIV
LLC
,
144A
2021
A
3.440%
3/08/28
N/R
466,911
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X307,948,798.00
ASSET-BACKED
AND
MORTGAGE-BACKED
SECURITIES
(continued)
$
617
Oportun
Issuance
Trust
2021-C
,
144A
2021
C
3.610%
10/08/31
N/R
$
536,552
350
Oportun
Issuance
Trust
2021-C
,
144A
2021
C
5.570%
10/08/31
N/R
289,897
1,000
Palmer
Square
CLO
2021-3
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
2.950%
spread)
2021
3A
(3)
5.462%
1/15/35
Baa3
940,124
2,500
Palmer
Square
CLO
2022-1
Ltd
,
144A
(TSFR3M
reference
rate
+
3.050%
spread)
2022
1A
(3)
7.689%
4/20/35
Baa3
2,340,388
2,000
Palmer
Square
CLO
2023-1
Ltd
,
144A
(TSFR3M
reference
rate
+
5.300%
spread)
2023
1A
,
(WI/DD)(3)
0.000%
1/20/36
N/R
2,007,162
250
Purchasing
Power
Funding
2021-A
LLC
,
144A
2021
A
4.370%
10/15/25
N/R
237,295
2,119
Purewest
Funding
LLC
,
144A
2021
1
4.091%
12/22/36
A-
2,009,640
16
Sequoia
Mortgage
Trust
2018-7
,
144A
2018
7
4.000%
9/25/48
Aaa
14,511
7
Sequoia
Mortgage
Trust
2019-2
,
144A
2019
2
4.000%
6/25/49
Aaa
6,868
295
Sequoia
Mortgage
Trust
2020-3
,
144A
2020
3
3.000%
4/25/50
AAA
240,237
1,448
Sesac
Finance
LLC
,
144A
2019
1
5.216%
7/25/49
N/R
1,342,109
1,443
Settlement
Fee
Finance
2019-1
LLC
,
144A
2019
1A
3.840%
11/01/49
N/R
1,396,305
223
Sierra
Timeshare
2019-2
Receivables
Funding
LLC
,
144A
2019
2A
4.540%
5/20/36
BB
210,271
205
Sierra
Timeshare
2019-3
Receivables
Funding
LLC
,
144A
2019
3A
4.180%
8/20/36
BB
193,320
174
Sierra
Timeshare
2021-1
Receivables
Funding
LLC
,
144A
2021
1A
1.790%
11/20/37
BBB
159,875
1,155
SLG
Office
Trust
2021-OVA
,
144A
2021
OVA
2.851%
7/15/41
N/R
847,471
40,180
SLG
Office
Trust
2021-OVA
,
144A
2021
OVA
0.258%
7/15/41
AA-
633,896
1,906
SMR
2022-IND
Mortgage
Trust
,
144A
(TSFR1M
reference
rate
+
3.950%
spread)
2022
IND
(3)
8.512%
2/15/39
Baa3
1,798,938
1,882
Sonic
Capital
LLC
,
144A
2020
1A
3.845%
1/20/50
BBB
1,718,670
1,500
Spruce
Hill
Mortgage
Loan
Trust
2020-SH1
,
144A
2020
SH1
3.827%
1/28/50
BBB
1,308,035
982
Start
II
LTD
,
144A
2019
1
5.095%
3/15/44
BB
755,845
2,597
Taco
Bell
Funding
LLC
,
144A
2021
1A
2.294%
8/25/51
BBB
2,159,728
1,728
Taco
Bell
Funding
LLC
,
144A
2021
1A
1.946%
8/25/51
BBB
1,491,367
1,500
TCW
CLO
2021-2
Ltd
,
144A
(3-Month
LIBOR
reference
rate
+
6.860%
spread)
2021
2A
(3)
6.985%
7/25/34
BB-
1,315,212
305
Tricon
American
Homes
2019-SFR1
Trust
,
144A
2019
SFR1
3.198%
3/17/38
A1
278,120
700
Tricon
American
Homes
2020-SFR1
,
144A
2020
SFR1
2.548%
7/17/38
A3
622,329
714
UBS-Barclays
Commercial
Mortgage
Trust
2013-C5
,
144A
2013
C5
3.649%
3/10/46
A2
702,292
3,000
VB-S1
Issuer
LLC
-
VBTEL
,
144A
2022
1A
4.288%
2/15/52
BBB-
2,706,221
600
Verus
Securitization
Trust
2019-4
,
144A
2019
4
3.207%
11/25/59
A-
514,400
851
Verus
Securitization
Trust
2020-1
,
144A
2020
1
2.724%
1/25/60
AA-
804,302
263
Verus
Securitization
Trust
2020-4
,
144A
2020
4
2.321%
5/25/65
AA
245,239
2,000
Verus
Securitization
Trust
2021-8
,
144A
2021
8
3.288%
11/25/66
BBB
1,410,244
1,108
Vivint
Solar
Financing
V
LLC
,
144A
2018
1A
7.370%
4/30/48
N/R
1,018,589
700
VNDO
Trust
2016-350P
,
144A
2016
350P
3.903%
1/10/35
B
544,064
191
VR
Funding
LLC
,
144A
2020
1A
6.420%
11/15/50
N/R
167,230
1,057
VR
Funding
LLC
,
144A
2020
1A
2.790%
11/15/50
N/R
881,159
48
Washington
Mutual
MSC
Mortgage
Pass-Through
Certificates
Series
2004-RA3
Trust
2004
RA3
5.814%
8/25/38
A
46,592
974
Wells
Fargo
Mortgage
Backed
Securities
2021-INV1
Trust
,
144A
2021
INV1
3.317%
8/25/51
A
783,342
857
Wendy's
Funding
LLC
,
144A
2021
1A
2.370%
6/15/51
BBB
714,762
350
WFRBS
Commercial
Mortgage
Trust
2013-C14
2013
C14
3.337%
6/15/46
Aaa
347,527
542
ZAXBY'S
FUNDING
LLC
,
144A
2021
1A
3.238%
7/30/51
N/R
448,299
Total
Asset-Backed
and
Mortgage-Backed
Securities
(cost
$336,573,778)
307,948,798
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
182,315,227
CORPORATE
BONDS
-
27.7%
X
182,315,227
Aerospace
&
Defense
-
0.3%
$
1,075
Boeing
Co/The
5.705%
5/01/40
Baa2
$
1,023,420
900
Raytheon
Technologies
Corp
1.900%
9/01/31
A-
703,577
465
Raytheon
Technologies
Corp
5.000%
2/27/26
A-
464,303
Total
Aerospace
&
Defense
2,191,300
Airlines
-
0.4%
1,314
American
Airlines
2021-1
Class
A
Pass
Through
Trust
2.875%
7/11/34
A
1,082,625
396
British
Airways
2020-1
Class
A
Pass
Through
Trust,
144A
4.250%
11/15/32
A
368,554
338
British
Airways
2020-1
Class
B
Pass
Through
Trust2020
A,
144A
8.375%
11/15/28
BBB
336,493
1,000
Grupo
Aeromexico
SAB
de
CV,
144A
8.500%
3/17/27
B
896,255
Total
Airlines
2,683,927
Auto
Components
-
0.3%
600
Adient
Global
Holdings
Ltd,
144A
4.875%
8/15/26
BB-
555,276
1,500
Goodyear
Tire
&
Rubber
Co/The
(5)
5.000%
7/15/29
BB-
1,305,000
Total
Auto
Components
1,860,276
Automobiles
-
0.6%
450
Ford
Motor
Credit
Co
LLC
7.350%
3/06/30
BB+
455,697
1,040
Ford
Motor
Credit
Co
LLC
3.375%
11/13/25
BB+
957,913
1,000
General
Motors
Financial
Co
Inc
3.600%
6/21/30
BBB
858,890
1,500
Hyundai
Capital
Services
Inc,
144A
2.125%
4/24/25
BBB+
1,386,470
Total
Automobiles
3,658,970
Banks
-
3.0%
1,200
Access
Bank
PLC,
144A
6.125%
9/21/26
B-
990,120
375
African
Export-Import
Bank/The,
144A
2.634%
5/17/26
Baa1
335,259
1,000
Akbank
TAS,
144A
(5)
6.800%
2/06/26
B3
936,404
1,050
Banco
Nacional
de
Comercio
Exterior
SNC/Cayman
Islands,
144A
2.720%
8/11/31
Ba1
880,780
500
Bangkok
Bank
PCL/Hong
Kong,
144A
3.466%
9/23/36
Baa3
404,171
3,185
Bank
of
America
Corp
1.898%
7/23/31
AA-
2,482,373
1,675
Bank
of
America
Corp
3.248%
10/21/27
AA-
1,542,320
1,035
Banque
Ouest
Africaine
de
Developpement,
144A
4.700%
10/22/31
Baa1
884,925
550
Caelus
Re
VI
Ltd2020
A
(3-Month
U.S.
Treasury
Bill
reference
rate
+
5.380%
spread),
144A
(3)
10.126%
6/07/23
N/R
537,460
1,000
Citigroup
Inc
2.572%
6/03/31
A
820,322
1,350
Citigroup
Inc
1.122%
1/28/27
A
1,186,191
1,475
Deutsche
Bank
AG/New
York
NY
3.961%
11/26/25
Baa1
1,414,822
1,675
Development
Bank
of
Kazakhstan
JSC,
144A
2.950%
5/06/31
Baa2
1,305,964
375
Grupo
Aval
Ltd,
144A
4.375%
2/04/30
BB+
280,500
1,400
JPMorgan
Chase
&
Co
1.470%
9/22/27
AA-
1,213,689
3,050
JPMorgan
Chase
&
Co
1.953%
2/04/32
AA-
2,368,467
1,000
Turkiye
Garanti
Bankasi
AS,
144A
7.177%
5/24/27
Caa2
902,500
750
Turkiye
Ihracat
Kredi
Bankasi
AS,
144A
5.750%
7/06/26
B3
662,070
800
Turkiye
Vakiflar
Bankasi
TAO,
144A
5.500%
10/01/26
B-
693,280
Total
Banks
19,841,617
Beverages
-
0.8%
1,200
Anadolu
Efes
Biracilik
Ve
Malt
Sanayii
AS,
144A
(5)
3.375%
6/29/28
BB+
925,322
1,500
Anheuser-Busch
InBev
Worldwide
Inc
4.350%
6/01/40
BBB+
1,316,532
1,200
Cia
Cervecerias
Unidas
SA,
144A
3.350%
1/19/32
A-
994,200
1,125
Primo
Water
Holdings
Inc,
144A
4.375%
4/30/29
B1
963,540
1,275
Triton
Water
Holdings
Inc,
144A
6.250%
4/01/29
CCC+
1,016,239
Total
Beverages
5,215,833
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Biotechnology
-
0.1%
$
345
Amgen
Inc
,
(WI/DD)
5.250%
3/02/33
BBB+
$
342,596
255
Amgen
Inc
,
(WI/DD)
5.650%
3/02/53
BBB+
252,901
Total
Biotechnology
595,497
Capital
Markets
-
1.0%
90
AG
TTMT
Escrow
Issuer
LLC,
144A
8.625%
9/30/27
B2
91,108
1,000
Compass
Group
Diversified
Holdings
LLC,
144A
5.250%
4/15/29
B+
871,633
1,500
Credit
Suisse
Group
AG
3.750%
3/26/25
Baa2
1,370,265
1,750
ENN
Clean
Energy
International
Investment
Ltd,
144A
3.375%
5/12/26
BBB-
1,574,678
1,175
Goldman
Sachs
Group
Inc/The
1.542%
9/10/27
A2
1,020,249
1,475
Morgan
Stanley
1.593%
5/04/27
A1
1,302,266
665
NFP
Corp,
144A
7.500%
10/01/30
B1
633,090
Total
Capital
Markets
6,863,289
Chemicals
-
0.9%
900
Air
Products
and
Chemicals
Inc
4.800%
3/03/33
A2
896,575
1,700
Alpek
SAB
de
CV,
144A
4.250%
9/18/29
BBB-
1,517,250
950
EverArc
Escrow
Sarl,
144A
5.000%
10/30/29
B+
755,782
1,025
OCP
SA,
144A
3.750%
6/23/31
BB+
821,072
1,325
Orbia
Advance
Corp
SAB
de
CV,
144A
1.875%
5/11/26
BBB
1,159,375
725
Sasol
Financing
USA
LLC
(5)
4.375%
9/18/26
BB+
651,406
490
Tronox
Inc,
144A
4.625%
3/15/29
BB-
399,350
Total
Chemicals
6,200,810
Commercial
Services
&
Supplies
-
0.3%
1,670
ADT
Security
Corp/The,
144A
4.875%
7/15/32
BB-
1,432,205
375
Prime
Security
Services
Borrower
LLC
/
Prime
Finance
Inc,
144A
6.250%
1/15/28
B-
347,850
Total
Commercial
Services
&
Supplies
1,780,055
Construction
Materials
-
0.3%
750
Gates
Global
LLC
/
Gates
Corp,
144A
6.250%
1/15/26
B
732,818
1,250
UltraTech
Cement
Ltd,
144A
2.800%
2/16/31
Baa3
987,351
Total
Construction
Materials
1,720,169
Consumer
Finance
-
0.2%
425
OneMain
Finance
Corp
5.375%
11/15/29
BB
357,867
1,095
OneMain
Finance
Corp
3.500%
1/15/27
BB
919,654
Total
Consumer
Finance
1,277,521
Containers
&
Packaging
-
0.3%
740
Amcor
Finance
USA
Inc
3.625%
4/28/26
BBB
698,446
1,000
LABL
Inc,
144A
5.875%
11/01/28
B2
866,250
715
Mauser
Packaging
Solutions
Holding
Co,
144A
7.875%
8/15/26
B
719,469
Total
Containers
&
Packaging
2,284,165
Diversified
Financial
Services
-
0.5%
500
Citrus
Re
Ltd
(3-Month
U.S.
Treasury
Bill
reference
rate
+
5.100%
spread),
144A
(3)
5.100%
6/07/25
N/R
472,900
600
DAE
Funding
LLC,
144A
3.375%
3/20/28
Baa3
534,642
500
Hestia
Re
Ltd
(1-Month
U.S.
Treasury
Bill
reference
rate
+
9.500%
spread),
144A
(3)
14.267%
4/22/25
N/R
375,000
1,000
Indian
Railway
Finance
Corp
Ltd,
144A
3.570%
1/21/32
BBB-
838,940
250
Matterhorn
Re
Ltd
(SOFR
reference
rate
+
5.250%
spread),
144A
(3)
5.889%
3/24/25
N/R
217,450
1
Putnam
RE
PTE
Ltd,
144A
(6),(7)
10.243%
6/07/24
N/R
0
1,000
Sanders
Re
Ltd
(3-Month
U.S.
Treasury
Bill
reference
rate
+
3.090%
spread),
144A
(3)
3.250%
4/07/25
N/R
940,900
Total
Diversified
Financial
Services
3,379,832
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Diversified
Telecommunication
Services
-
0.5%
$
750
AT&T
Inc
3.500%
6/01/41
BBB+
$
563,041
770
Iliad
Holding
SASU,
144A
6.500%
10/15/26
BB-
719,704
2,275
Verizon
Communications
Inc
1.750%
1/20/31
A-
1,755,471
Total
Diversified
Telecommunication
Services
3,038,216
Electric
Utilities
-
1.3%
900
AEP
Transmission
Co
LLC
3.650%
4/01/50
A2
693,624
1,035
AES
Andres
BV,
144A
5.700%
5/04/28
BB-
921,228
910
Duke
Energy
Carolinas
LLC
5.350%
1/15/53
Aa3
896,780
1,000
Duke
Energy
Carolinas
LLC
4.950%
1/15/33
Aa3
984,610
800
Empresas
Publicas
de
Medellin
ESP,
144A
4.375%
2/15/31
Baa3
566,400
950
Eskom
Holdings
SOC
Ltd,
144A
6.350%
8/10/28
Ba2
888,250
1,175
Georgia
Power
Co
2.650%
9/15/29
BBB+
997,774
875
Israel
Electric
Corp
Ltd,
144A
3.750%
2/22/32
BBB+
752,785
250
NPC
Ukrenergo,
144A
6.875%
11/09/28
Ca
39,885
950
Public
Service
Co
of
Colorado
(5)
2.700%
1/15/51
A1
617,943
1,500
ReNew
Wind
Energy
AP2
/
ReNew
Power
Pvt
Ltd
other
9
Subsidiaries,
144A
(5)
4.500%
7/14/28
Ba3
1,241,063
Total
Electric
Utilities
8,600,342
Electronic
Equipment,
Instruments
&
Components
-
0.1%
1,150
Imola
Merger
Corp,
144A
4.750%
5/15/29
BB+
978,098
Total
Electronic
Equipment,
Instruments
&
Components
978,098
Energy
Equipment
&
Services
-
0.8%
550
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp,
144A
6.250%
4/01/28
B+
522,104
1,100
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp,
144A
6.875%
4/01/27
B+
1,067,143
2,000
EIG
Pearl
Holdings
Sarl,
144A
3.545%
8/31/36
A1
1,672,352
1,700
Galaxy
Pipeline
Assets
Bidco
Ltd,
144A
2.625%
3/31/36
Aa2
1,343,538
220
Transocean
Inc,
144A
8.750%
2/15/30
B2
223,850
165
Transocean
Titan
Financing
Ltd,
144A
8.375%
2/01/28
B2
168,415
Total
Energy
Equipment
&
Services
4,997,402
Entertainment
-
0.3%
145
Univision
Communications
Inc,
144A
7.375%
6/30/30
B+
137,519
1,425
Warnermedia
Holdings
Inc,
144A
5.050%
3/15/42
BBB-
1,154,443
900
Warnermedia
Holdings
Inc,
144A
3.638%
3/15/25
BBB-
858,457
Total
Entertainment
2,150,419
Equity
Real
Estate
Investment
Trusts
-
1.1%
1,000
Brixmor
Operating
Partnership
LP
2.250%
4/01/28
BBB
840,359
900
Essential
Properties
LP
2.950%
7/15/31
BBB
669,749
1,000
Kite
Realty
Group
Trust
4.750%
9/15/30
BBB
895,059
900
Regency
Centers
LP
2.950%
9/15/29
BBB+
757,635
500
SBA
Tower
Trust,
144A
1.631%
11/15/26
A2
426,853
2,200
SBA
Tower
Trust,
144A
1.840%
4/15/27
A2
1,868,092
240
SBA
Tower
Trust,
144A
2.836%
1/15/25
A2
225,415
270
SBA
Tower
Trust,
144A
1.884%
1/15/26
A2
239,029
1,000
Uniti
Group
LP
/
Uniti
Group
Finance
Inc
/
CSL
Capital
LLC,
144A
10.500%
2/15/28
BB+
1,000,200
Total
Equity
Real
Estate
Investment
Trusts
6,922,391
Food
&
Staples
Retailing
-
0.1%
800
CVS
Health
Corp
4.250%
4/01/50
BBB
639,852
Total
Food
&
Staples
Retailing
639,852
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Food
Products
-
0.3%
$
1,750
BRF
SA,
144A
4.875%
1/24/30
Ba2
$
1,333,885
1,075
Ulker
Biskuvi
Sanayi
AS,
144A
6.950%
10/30/25
B
916,954
Total
Food
Products
2,250,839
Gas
Utilities
-
0.3%
1,125
Ferrellgas
LP
/
Ferrellgas
Finance
Corp,
144A
5.875%
4/01/29
B
918,281
1,050
Ferrellgas
LP
/
Ferrellgas
Finance
Corp,
144A
5.375%
4/01/26
B
945,248
Total
Gas
Utilities
1,863,529
Health
Care
Equipment
&
Supplies
-
0.1%
950
DH
Europe
Finance
II
Sarl
2.600%
11/15/29
A-
820,129
Total
Health
Care
Equipment
&
Supplies
820,129
Health
Care
Providers
&
Services
-
0.5%
1,850
HCA
Inc
5.625%
9/01/28
BBB-
1,829,453
1,840
Tenet
Healthcare
Corp
4.375%
1/15/30
BB-
1,610,000
Total
Health
Care
Providers
&
Services
3,439,453
Hotels,
Restaurants
&
Leisure
-
0.8%
990
Cinemark
USA
Inc,
144A
(5)
5.250%
7/15/28
B
831,847
1,500
GENM
Capital
Labuan
Ltd,
144A
3.882%
4/19/31
BBB
1,164,686
600
Life
Time
Inc,
144A
5.750%
1/15/26
B+
574,830
1,000
NCL
Corp
Ltd,
144A
5.875%
3/15/26
B-
865,000
1,135
Sands
China
Ltd
3.750%
8/08/31
Baa2
896,544
1,250
Wynn
Macau
Ltd,
144A
5.625%
8/26/28
B+
1,069,969
Total
Hotels,
Restaurants
&
Leisure
5,402,876
Independent
Power
Producers
&
Energy
Traders
-
0.5%
1,196
Alfa
Desarrollo
SpA2021
1,
144A
4.550%
9/27/51
BBB-
876,394
1,500
EnfraGen
Energia
Sur
SA
/
EnfraGen
Spain
SA
/
Prime
Energia
SpA,
144A
5.375%
12/30/30
BBB-
958,965
1,460
Sweihan
PV
Power
Co
PJSC2022
1,
144A
3.625%
1/31/49
BBB+
1,195,558
628
UEP
Penonome
II
SA2020
1,
144A
6.500%
10/01/38
BB
479,383
Total
Independent
Power
Producers
&
Energy
Traders
3,510,300
Insurance
-
0.7%
900
Berkshire
Hathaway
Finance
Corp
2.875%
3/15/32
AA
775,029
500
Bonanza
RE
Ltd2020
A
(3-Month
U.S.
Treasury
Bill
reference
rate
+
4.870%
spread),
144A
(3)
9.616%
12/23/24
N/R
437,500
250
Bonanza
RE
Ltd
(3-Month
U.S.
Treasury
Bill
reference
rate
+
5.750%
spread),
144A
(3)
10.499%
3/16/25
N/R
206,875
900
Hartford
Financial
Services
Group
Inc/The
2.800%
8/19/29
BBB+
774,966
250
Kendall
Re
Ltd2020
A
(3-Month
U.S.
Treasury
Bill
reference
rate
+
4.000%
spread),
144A
(3)
4.040%
5/02/24
N/R
230,775
550
Residential
Reinsurance
2020
Ltd2020
A
(3-Month
U.S.
Treasury
Bill
reference
rate
+
6.180%
spread),
144A
(3)
6.510%
12/06/24
N/R
524,920
500
Vitality
Re
XII
Ltd2020
A
(3-Month
U.S.
Treasury
Bill
reference
rate
+
2.250%
spread),
144A
(3)
2.250%
1/07/25
BBB+
480,050
1,000
Vitality
Re
XIV
Ltd
(3-Month
U.S.
Treasury
Bill
reference
rate
+
3.500%
spread),
144A
(3)
8.267%
1/05/27
BBB+
998,500
Total
Insurance
4,428,615
Interactive
Media
&
Services
-
0.6%
1,100
Arches
Buyer
Inc,
144A
4.250%
6/01/28
B1
905,498
535
Baidu
Inc
1.625%
2/23/27
A
463,529
725
Prosus
NV,
144A
3.680%
1/21/30
BBB
603,010
2,000
Prosus
NV,
144A
3.257%
1/19/27
BBB
1,778,410
200
Prosus
NV,
144A
4.850%
7/06/27
BBB
187,720
Total
Interactive
Media
&
Services
3,938,167
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
IT
Services
-
0.8%
$
2,075
Ahead
DB
Holdings
LLC,
144A
6.625%
5/01/28
CCC+
$
1,752,637
750
MPH
Acquisition
Holdings
LLC,
144A
5.500%
9/01/28
Ba3
568,237
2,140
Presidio
Holdings
Inc,
144A
8.250%
2/01/28
CCC+
2,033,947
1,000
Virtusa
Corp,
144A
7.125%
12/15/28
CCC+
830,486
Total
IT
Services
5,185,307
Machinery
-
0.2%
265
Chart
Industries
Inc,
144A
9.500%
1/01/31
B
276,925
800
WASH
Multifamily
Acquisition
Inc,
144A
5.750%
4/15/26
B-
744,184
Total
Machinery
1,021,109
Marine
-
0.2%
1,740
MISC
Capital
Two
Labuan
Ltd,
144A
3.750%
4/06/27
BBB
1,610,984
Total
Marine
1,610,984
Media
-
0.9%
1,000
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp,
144A
6.375%
9/01/29
BB+
932,335
1,175
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
3.900%
6/01/52
BBB-
742,518
1,300
Comcast
Corp
2.800%
1/15/51
A-
829,298
1,500
CSC
Holdings
LLC,
144A
4.125%
12/01/30
B+
1,084,020
925
LCPR
Senior
Secured
Financing
DAC,
144A
5.125%
7/15/29
BB+
782,029
1,500
Sirius
XM
Radio
Inc,
144A
4.000%
7/15/28
BB
1,282,500
Total
Media
5,652,700
Metals
&
Mining
-
0.8%
700
AngloGold
Ashanti
Holdings
PLC
3.375%
11/01/28
Baa3
608,732
1,675
AngloGold
Ashanti
Holdings
PLC
3.750%
10/01/30
Baa3
1,431,107
750
Antofagasta
PLC,
144A
5.625%
5/13/32
BBB+
725,941
1,120
Freeport
Indonesia
PT,
144A
5.315%
4/14/32
Baa3
1,030,076
2,000
SunCoke
Energy
Inc,
144A
4.875%
6/30/29
BB
1,698,027
Total
Metals
&
Mining
5,493,883
Multiline
Retail
-
0.0%
1,450
JSM
Global
Sarl,
144A
(6)
4.750%
10/20/30
C
259,115
Total
Multiline
Retail
259,115
Oil,
Gas
&
Consumable
Fuels
-
3.1%
800
Cosan
SA,
144A
5.500%
9/20/29
BB
731,440
575
Ecopetrol
SA
6.875%
4/29/30
Baa3
510,600
450
Ecopetrol
SA
4.625%
11/02/31
Baa3
335,475
100
Ecopetrol
SA
5.875%
5/28/45
Baa3
65,943
1,000
Ecopetrol
SA
(5)
5.875%
11/02/51
Baa3
642,700
900
Empresa
Nacional
del
Petroleo,
144A
3.450%
9/16/31
A-
739,174
826
Energean
Israel
Finance
Ltd,
144A
5.375%
3/30/28
BB-
741,871
900
Energy
Transfer
LP
5.000%
5/15/50
BBB-
737,496
900
Enterprise
Products
Operating
LLC
4.450%
2/15/43
BBB+
767,772
335
EQM
Midstream
Partners
LP,
144A
7.500%
6/01/30
BB
319,162
240
Holly
Energy
Partners
LP
/
Holly
Energy
Finance
Corp,
144A
6.375%
4/15/27
BB+
232,733
1,175
Kinder
Morgan
Energy
Partners
LP
5.800%
3/15/35
BBB
1,147,237
500
Medco
Laurel
Tree
Pte
Ltd,
144A
6.950%
11/12/28
B+
454,595
1,500
MEG
Energy
Corp,
144A
5.875%
2/01/29
BB-
1,399,005
850
NGL
Energy
Operating
LLC
/
NGL
Energy
Finance
Corp,
144A
7.500%
2/01/26
B
811,680
1,010
Parkland
Corp/Canada,
144A
4.625%
5/01/30
BB
840,825
500
Pertamina
Persero
PT,
144A
1.400%
2/09/26
Baa2
446,253
200
Petroleos
del
Peru
SA,
144A
4.750%
6/19/32
BB+
153,150
1,490
Petroleos
Mexicanos
6.700%
2/16/32
BBB
1,184,381
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Oil,
Gas
&
Consumable
Fuels
(continued)
$
559
Petroleos
Mexicanos
7.690%
1/23/50
BBB
$
394,425
100
Petroleos
Mexicanos
6.750%
9/21/47
BBB
65,021
1,175
Sabine
Pass
Liquefaction
LLC
4.200%
3/15/28
BBB+
1,102,999
1,665
Saka
Energi
Indonesia
PT,
144A
4.450%
5/05/24
B+
1,593,470
1,000
SierraCol
Energy
Andina
LLC,
144A
6.000%
6/15/28
B1
782,792
1,000
Thaioil
Treasury
Center
Co
Ltd,
144A
2.500%
6/18/30
BBB
792,073
900
TotalEnergies
Capital
International
SA
2.986%
6/29/41
A+
669,904
1,780
Transcanada
Trust
5.500%
9/15/79
BBB
1,569,694
975
USA
Compression
Partners
LP
/
USA
Compression
Finance
Corp
6.875%
9/01/27
BB-
923,169
Total
Oil,
Gas
&
Consumable
Fuels
20,155,039
Paper
&
Forest
Products
-
0.2%
1,500
Suzano
Austria
GmbH
3.125%
1/15/32
BBB-
1,181,650
Total
Paper
&
Forest
Products
1,181,650
Pharmaceuticals
-
0.6%
825
CVS
Health
Corp
1.750%
8/21/30
BBB
643,835
1,475
ORGANON
&
CO/ORG,
144A
5.125%
4/30/31
BB-
1,251,906
1,300
Takeda
Pharmaceutical
Co
Ltd
5.000%
11/26/28
BBB+
1,283,549
990
Teva
Pharmaceutical
Finance
Netherlands
III
BV
(5)
5.125%
5/09/29
Ba2
876,309
Total
Pharmaceuticals
4,055,599
Road
&
Rail
-
0.2%
700
Canadian
Pacific
Railway
Co
3.100%
12/02/51
BBB+
477,720
1,000
Transnet
SOC
Ltd,
144A
(5)
8.250%
2/06/28
BB-
1,002,240
Total
Road
&
Rail
1,479,960
Semiconductors
&
Semiconductor
Equipment
-
0.4%
1,175
Broadcom
Inc,
144A
3.469%
4/15/34
BBB-
929,978
1,200
SK
Hynix
Inc,
144A
1.500%
1/19/26
Baa2
1,050,868
675
TSMC
Arizona
Corp
3.875%
4/22/27
AA-
648,149
Total
Semiconductors
&
Semiconductor
Equipment
2,628,995
Software
-
0.3%
500
Condor
Merger
Sub
Inc,
144A
7.375%
2/15/30
CCC+
396,263
1,000
Rocket
Software
Inc,
144A
(5)
6.500%
2/15/29
CCC
818,236
750
Salesforce
Inc
2.700%
7/15/41
A+
529,895
Total
Software
1,744,394
Specialty
Retail
-
0.6%
750
AutoNation
Inc
3.850%
3/01/32
BBB-
628,904
1,000
Michaels
Cos
Inc/The,
144A
7.875%
5/01/29
Caa1
752,500
1,125
Michaels
Cos
Inc/The,
144A
5.250%
5/01/28
B1
936,259
1,300
O'Reilly
Automotive
Inc
3.900%
6/01/29
Baa1
1,203,939
700
Staples
Inc,
144A
7.500%
4/15/26
B
623,000
Total
Specialty
Retail
4,144,602
Technology
Hardware,
Storage
&
Peripherals
-
0.2%
1,175
Apple
Inc
2.450%
8/04/26
Aaa
1,087,674
Total
Technology
Hardware,
Storage
&
Peripherals
1,087,674
Textiles
-
0.1%
430
Hanesbrands
Inc,
144A
(5)
9.000%
2/15/31
BB-
434,795
Total
Textiles
434,795
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Thrifts
&
Mortgage
Finance
-
0.2%
$
2,000
Rocket
Mortgage
LLC
/
Quicken
Loans
Co-Issuer
Inc,
144A
3.625%
3/01/29
Ba1
$
1,607,629
Total
Thrifts
&
Mortgage
Finance
1,607,629
Trading
Companies
&
Distributors
-
0.6%
880
AerCap
Holdings
NV
(5)
5.875%
10/10/79
BB+
839,541
1,750
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust
3.000%
10/29/28
BBB
1,491,197
1,825
Albion
Financing
2SARL,
144A
8.750%
4/15/27
BB-
1,574,063
Total
Trading
Companies
&
Distributors
3,904,801
Transportation
Infrastructure
-
0.1%
500
Adani
Ports
&
Special
Economic
Zone
Ltd,
144A
3.100%
2/02/31
BBB-
325,686
Total
Transportation
Infrastructure
325,686
Wireless
Telecommunication
Services
-
1.2%
1,410
AT&T
Inc
3.500%
9/15/53
BBB+
967,946
1,400
C&W
Senior
Financing
DAC,
144A
6.875%
9/15/27
BB-
1,268,400
775
CT
Trust,
144A
5.125%
2/03/32
Ba1
612,250
975
Empresa
Nacional
de
Telecomunicaciones
SA,
144A
3.050%
9/14/32
BBB
754,650
1,000
Liberty
Costa
Rica
Senior
Secured
Finance,
144A
10.875%
1/15/31
B+
943,865
1,386
Millicom
International
Cellular
SA2028
2028,
144A
5.125%
1/15/28
BB+
1,220,059
1,375
Sitios
Latinoamerica
SAB
de
CV,
144A
5.375%
4/04/32
Baa3
1,216,187
995
Vmed
O2
UK
Financing
I
PLC,
144A
4.750%
7/15/31
BB+
824,059
Total
Wireless
Telecommunication
Services
7,807,416
Total
Corporate
Bonds
(cost
$208,182,118)
182,315,227
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
55,201,778
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
8.4%
X
55,201,778
Automobiles
-
0.2%
$
1,235
General
Motors
Financial
Co
Inc
5.700%
N/A
(8)
BB+
$
1,115,597
Total
Automobiles
1,115,597
Banks
-
3.9%
1,100
Banco
de
Credito
del
Peru
S.A,
144A
3.125%
7/01/30
BBB-
996,050
1,500
Bank
of
America
Corp
(5)
6.125%
N/A
(8)
BBB+
1,462,200
1,500
Bank
of
America
Corp
6.100%
N/A
(8)
BBB+
1,485,000
1,330
Citigroup
Inc
5.950%
N/A
(8)
BBB-
1,299,676
1,875
Citigroup
Inc
1.000%
12/31/99
N/R
1,875,000
2,000
CoBank
ACB
6.250%
N/A
(8)
BBB+
1,938,657
2,000
Goldman
Sachs
Group
Inc/The
3.800%
N/A
(8)
BBB-
1,716,480
1,560
Huntington
Bancshares
Inc/OH
5.625%
N/A
(8)
Baa3
1,480,155
1,275
JPMorgan
Chase
&
Co
5.000%
N/A
(8)
BBB+
1,238,344
2,450
JPMorgan
Chase
&
Co
3.650%
N/A
(8)
BBB+
2,126,646
2,000
PNC
Financial
Services
Group
Inc/The
3.400%
N/A
(8)
Baa2
1,652,800
1,415
Truist
Financial
Corp
5.100%
N/A
(8)
Baa2
1,351,042
2,000
Truist
Financial
Corp
4.800%
N/A
(8)
Baa2
1,898,845
1,230
Wells
Fargo
&
Co
5.875%
N/A
(8)
Baa2
1,220,160
1,300
Wells
Fargo
&
Co
5.900%
N/A
(8)
Baa2
1,271,959
2,900
Wells
Fargo
&
Co
3.900%
N/A
(8)
Baa2
2,593,687
Total
Banks
25,606,701
Building
Products
-
0.2%
1,125
Cemex
SAB
de
CV,
144A
5.125%
N/A
(8)
BB-
1,021,500
Total
Building
Products
1,021,500
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Capital
Markets
-
0.7%
$
2,500
Bank
of
New
York
Mellon
Corp/The
4.700%
N/A
(8)
Baa1
$
2,431,250
2,050
Charles
Schwab
Corp/The
5.375%
N/A
(8)
BBB
2,019,250
Total
Capital
Markets
4,450,500
Diversified
Financial
Services
-
0.1%
1,000
Voya
Financial
Inc
6.125%
N/A
(8)
BBB-
984,890
Total
Diversified
Financial
Services
984,890
Electric
Utilities
-
0.4%
1,500
Edison
International
5.000%
N/A
(8)
BB+
1,291,755
1,500
Southern
Co/The
4.000%
1/15/51
BBB-
1,406,475
Total
Electric
Utilities
2,698,230
Food
Products
-
0.4%
2,730
Land
O'
Lakes
Inc,
144A
8.000%
N/A
(8)
BB
2,566,200
Total
Food
Products
2,566,200
Independent
Power
Producers
&
Energy
Traders
-
0.2%
1,304
Vistra
Corp,
144A
7.000%
N/A
(8)
Ba3
1,219,670
Total
Independent
Power
Producers
&
Energy
Traders
1,219,670
Insurance
-
0.9%
2,835
AXIS
Specialty
Finance
LLC
4.900%
1/15/40
BBB
2,401,986
1,485
Enstar
Finance
LLC
5.500%
1/15/42
BBB-
1,184,286
1,000
Hanwha
Life
Insurance
Co
Ltd,
144A
3.379%
2/04/32
A-
882,112
1,500
Prudential
Financial
Inc
6.000%
9/01/52
BBB+
1,446,995
Total
Insurance
5,915,379
Media
-
0.3%
2,185
Paramount
Global
6.375%
3/30/62
Baa3
1,882,596
Total
Media
1,882,596
Multi-Utilities
-
0.3%
2,035
Sempra
Energy
4.875%
N/A
(8)
BBB-
1,918,239
Total
Multi-Utilities
1,918,239
Oil,
Gas
&
Consumable
Fuels
-
0.5%
2,235
Enbridge
Inc
5.750%
7/15/80
BBB-
2,096,140
1,400
Energy
Transfer
LP
6.500%
N/A
(8)
BB
1,290,405
Total
Oil,
Gas
&
Consumable
Fuels
3,386,545
Trading
Companies
&
Distributors
-
0.1%
825
AerCap
Global
Aviation
Trust,
144A
6.500%
6/15/45
Baa3
796,149
Total
Trading
Companies
&
Distributors
796,149
Wireless
Telecommunication
Services
-
0.2%
1,000
Network
i2i
Ltd,
144A
(5)
3.975%
N/A
(8)
BB
880,582
800
Network
i2i
Ltd,
144A
5.650%
N/A
(8)
BB
759,000
Total
Wireless
Telecommunication
Services
1,639,582
Total
$1,000
Par
(or
similar)
Institutional
Preferred
(cost
$59,985,841)
55,201,778
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
47,872,235
SOVEREIGN
DEBT
-
7.2%
X
47,872,235
Angola
-
0.2%
$
1,050
Angolan
Government
International
Bond
,
144A
8.750%
4/14/32
B-
$
942,532
Total
Angola
942,532
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Bermuda
-
0.1%
$
625
Bermuda
Government
International
Bond
,
144A
2.375%
8/20/30
A+
$
519,415
Total
Bermuda
519,415
Colombia
-
0.1%
850
Colombia
Government
International
Bond
5.000%
6/15/45
Baa2
556,694
Total
Colombia
556,694
Costa
Rica
-
0.1%
905
Costa
Rica
Government
International
Bond
,
144A
5.625%
4/30/43
B+
751,150
Total
Costa
Rica
751,150
Cote
d'Ivoire
-
0.4%
1,750
Ivory
Coast
Government
International
Bond
,
144A
6.125%
6/15/33
BB-
1,516,443
1,313
Ivory
Coast
Government
International
Bond
,
144A
5.750%
12/31/32
BB-
1,192,857
Total
Cote
d'Ivoire
2,709,300
Dominican
Republic
-
0.2%
1,000
Dominican
Republic
International
Bond
,
144A
4.500%
1/30/30
BB
858,690
835
Dominican
Republic
International
Bond
,
144A
5.300%
1/21/41
BB
653,102
12,000
DOP
Dominican
Republic
International
Bond
,
144A
9.750%
6/05/26
BB
212,399
Total
Dominican
Republic
1,724,191
Ecuador
-
0.0%
380
Ecuador
Government
International
Bond
,
144A
5.000%
7/31/30
B-
184,870
Total
Ecuador
184,870
El
Salvador
-
0.1%
1,475
El
Salvador
Government
International
Bond
,
144A
6.375%
1/18/27
CCC+
778,855
Total
El
Salvador
778,855
Ghana
-
0.0%
650
Ghana
Government
International
Bond
,
144A
8.125%
3/26/32
CC
240,500
Total
Ghana
240,500
Hungary
-
0.1%
425
Hungary
Government
International
Bond
,
144A
5.250%
6/16/29
Baa2
414,368
Total
Hungary
414,368
Indonesia
-
0.1%
950
Perusahaan
Penerbit
SBSN
Indonesia
III
,
144A
3.800%
6/23/50
BBB
736,895
Total
Indonesia
736,895
Iraq
-
0.3%
1,884
Iraq
International
Bond
,
144A
5.800%
1/15/28
N/R
1,728,846
Total
Iraq
1,728,846
Jamaica
-
0.1%
805
Jamaica
Government
International
Bond
6.750%
4/28/28
B+
840,708
Total
Jamaica
840,708
Jordan
-
0.2%
1,300
Jordan
Government
International
Bond
,
144A
5.850%
7/07/30
BB-
1,171,560
Total
Jordan
1,171,560
Kazakhstan
-
0.1%
400
Kazakhstan
Government
International
Bond
,
144A
6.500%
7/21/45
Baa2
423,520
Total
Kazakhstan
423,520
Kenya
-
0.3%
400
Republic
of
Kenya
Government
International
Bond
,
144A
7.000%
5/22/27
B
358,752
1,445
Republic
of
Kenya
Government
International
Bond
,
144A
6.300%
1/23/34
B
1,091,900
Total
Kenya
1,450,652
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Mexico
-
0.5%
$
275
Mexico
Government
International
Bond
5.400%
2/09/28
BBB
$
275,953
1,000
Mexico
Government
International
Bond
4.750%
4/27/32
BBB
932,222
1,640
Mexico
Government
International
Bond
4.750%
3/08/44
BBB
1,357,858
1,950
Mexico
Government
International
Bond
4.280%
8/14/41
BBB
1,553,280
Total
Mexico
4,119,313
Mongolia
-
0.1%
795
Mongolia
Government
International
Bond
,
144A
(5)
4.450%
7/07/31
B
636,037
Total
Mongolia
636,037
Morocco
-
0.2%
850
Morocco
Government
International
Bond
,
144A
5.500%
12/11/42
BB+
697,000
920
Morocco
Government
International
Bond
,
144A
3.000%
12/15/32
BB+
699,310
Total
Morocco
1,396,310
Nigeria
-
0.1%
415
Nigeria
Government
International
Bond
,
144A
7.875%
2/16/32
B-
318,513
325
Nigeria
Government
International
Bond
,
144A
8.375%
3/24/29
B-
273,000
Total
Nigeria
591,513
Oman
-
0.1%
850
Oman
Government
International
Bond
,
144A
6.000%
8/01/29
BB
850,379
250
Oman
Government
International
Bond
,
144A
6.750%
10/28/27
BB
259,528
Total
Oman
1,109,907
Pakistan
-
0.0%
275
Pakistan
Global
Sukuk
Programme
Co
Ltd/The
,
144A
7.950%
1/31/29
Caa3
159,500
Total
Pakistan
159,500
Panama
-
0.2%
1,360
Panama
Bonos
del
Tesoro
3.362%
6/30/31
BBB
1,122,000
Total
Panama
1,122,000
Peru
-
0.1%
925
Peruvian
Government
International
Bond
2.783%
1/23/31
Baa1
761,192
Total
Peru
761,192
Philippines
-
0.3%
495
Philippine
Government
International
Bond
4.200%
3/29/47
BBB+
415,077
600
Philippine
Government
International
Bond
5.000%
7/17/33
BBB+
594,881
550
Philippine
Government
International
Bond
6.375%
10/23/34
BBB+
599,589
Total
Philippines
1,609,547
Poland
-
0.1%
1,000
Republic
of
Poland
Government
International
Bond
3.250%
4/06/26
A2
948,280
Total
Poland
948,280
Qatar
-
0.1%
850
Qatar
Government
International
Bond
,
144A
4.817%
3/14/49
AA
807,500
Total
Qatar
807,500
Republic
of
Serbia
-
0.1%
375
Serbia
International
Bond
,
144A
(5)
6.500%
9/26/33
BB+
364,313
Total
Republic
of
Serbia
364,313
Rwanda
-
0.2%
1,375
Rwanda
International
Government
Bond
,
144A
5.500%
8/09/31
B+
1,035,513
Total
Rwanda
1,035,513
Saudi
Arabia
-
0.2%
1,890
Saudi
Government
International
Bond
,
144A
3.750%
1/21/55
A1
1,420,860
Total
Saudi
Arabia
1,420,860
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
South
Africa
-
0.3%
$
2,450
Republic
of
South
Africa
Government
International
Bond
(5)
5.375%
7/24/44
Ba2
$
1,807,659
Total
South
Africa
1,807,659
Ukraine
-
0.0%
225
Ukraine
Government
International
Bond
,
144A
7.750%
9/01/29
CCC+
41,548
Total
Ukraine
41,548
United
States
-
2.2%
10,000
United
States
Treasury
Note/Bond
4.000%
2/29/28
Aaa
9,925,781
2,000
United
States
Treasury
Note/Bond
3.875%
2/15/43
Aaa
1,940,312
3,000
United
States
Treasury
Note/Bond
3.500%
2/15/33
Aaa
2,901,094
Total
United
States
14,767,187
Total
Sovereign
Debt
(cost
$55,804,695)
47,872,235
Principal
Amount
(000)
Description
(1)
Coupon
(9)
Reference
Rate
(9)
Spread
(9)
Maturity
(10)
Ratings
(2)
Value
X
21,059,657
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
3.2%
(9)
X
21,059,657
Airlines
-
0.3%
$
315
Mileage
Plus
Holdings
LLC,
Term
Loan
B
9.996%
3-Month
LIBOR
5.250%
6/20/27
Baa3
$
328,526
166
SkyMiles
IP
Ltd.,
Term
Loan
B
8.558%
3-Month
LIBOR
3.750%
10/20/27
Baa1
172,371
1,474
United
Airlines,
Inc.,
Term
Loan
B
8.568%
3-Month
LIBOR
3.750%
4/21/28
Ba1
1,475,047
Total
Airlines
1,975,944
Beverages
-
0.1%
395
City
Brewing
Company,
LLC,
Term
Loan
8.330%
3-Month
LIBOR
3.500%
4/05/28
CCC
195,359
437
Sunshine
Investments
B.V.,
Term
Loan
9.011%
SOFR90A
4.250%
5/05/29
B+
435,545
Total
Beverages
630,904
Building
Products
-
0.1%
495
Chamberlain
Group
Inc,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/22/28
B
477,311
422
Cornerstone
Building
Brands,
Inc.,
Term
Loan
B
7.838%
1-Month
LIBOR
3.250%
4/12/28
B
392,478
Total
Building
Products
869,789
Chemicals
-
0.2%
450
Ineos
US
Finance
LLC,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
BB
447,257
976
Messer
Industries
GmbH,
Term
Loan
7.230%
3-Month
LIBOR
2.500%
3/01/26
BB-
974,420
69
W.R.
Grace
&
Co.-Conn.,
Term
Loan
B
8.500%
3-Month
LIBOR
3.750%
9/22/28
BB+
69,089
Total
Chemicals
1,490,766
Commercial
Services
&
Supplies
-
0.1%
245
GFL
Environmental
Inc.,
Term
Loan
7.561%
TSFR1M
3.000%
5/30/25
BB-
245,698
439
Prime
Security
Services
Borrower,
LLC,
Term
Loan
7.517%
3-Month
LIBOR
2.750%
9/23/26
BB-
438,711
Total
Commercial
Services
&
Supplies
684,409
Principal
Amount
(000)
Description
(1)
Coupon
(9)
Reference
Rate
(9)
Spread
(9)
Maturity
(10)
Ratings
(2)
Value
Containers
&
Packaging
-
0.1%
$
491
Plaze,
Inc.,
Term
Loan
B
9.067%
1-Month
LIBOR
+
Prime
3.000%
8/03/26
B
$
462,899
223
Reynolds
Group
Holdings
Inc.
,
Term
Loan
B2
7.885%
1-Month
LIBOR
3.250%
2/05/26
B+
222,938
Total
Containers
&
Packaging
685,837
Diversified
Telecommunication
Services
-
0.0%
171
Cablevision
Lightpath
LLC,
Term
Loan
B
7.838%
1-Month
LIBOR
3.250%
12/01/27
B1
170,207
156
Zayo
Group
Holdings,
Inc.,
Term
Loan
7.635%
1-Month
LIBOR
3.000%
3/09/27
B2
130,052
Total
Diversified
Telecommunication
Services
300,259
Electronic
Equipment,
Instruments
&
Components
-
0.1%
394
Ingram
Micro
Inc.,
Term
Loan
B
8.230%
3-Month
LIBOR
3.500%
7/02/28
BB+
393,015
Total
Electronic
Equipment,
Instruments
&
Components
393,015
Health
Care
Equipment
&
Supplies
-
0.4%
1,990
Bausch
&
Lomb,
Inc.,
Term
Loan
7.842%
SOFR90A
3.250%
5/05/27
BB-
1,950,916
594
Medline
Borrower,
LP,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/21/28
BB-
573,669
Total
Health
Care
Equipment
&
Supplies
2,524,585
Health
Care
Providers
&
Services
-
0.5%
993
Parexel
International
Corporation,
Term
Loan,
First
Lien
7.867%
1-Month
LIBOR
3.250%
11/15/28
B1
973,394
565
RegionalCare
Hospital
Partners
Holdings,
Inc.,
Term
Loan
B
8.575%
3-Month
LIBOR
3.750%
11/16/25
B1
541,812
1,482
Select
Medical
Corporation,
Term
Loan
B
7.140%
1-Month
LIBOR
2.500%
3/06/25
Ba2
1,478,291
Total
Health
Care
Providers
&
Services
2,993,497
Hotels,
Restaurants
&
Leisure
-
0.1%
491
IRB
Holding
Corp,
Term
Loan
B
7.687%
SOFR90A
3.000%
12/15/27
B+
485,505
Total
Hotels,
Restaurants
&
Leisure
485,505
Household
Durables
-
0.1%
443
Weber-Stephen
Products
LLC,
Term
Loan
B
7.885%
1-Month
LIBOR
3.250%
10/30/27
CCC+
388,686
Total
Household
Durables
388,686
Internet
&
Direct
Marketing
Retail
-
0.1%
467
CNT
Holdings
I
Corp,
Term
Loan
8.125%
TSFR3M
3.500%
11/08/27
B
459,104
Total
Internet
&
Direct
Marketing
Retail
459,104
Machinery
-
0.1%
661
Filtration
Group
Corporation,
Term
Loan,
First
Lien
7.635%
1-Month
LIBOR
3.000%
3/28/25
B
659,853
Total
Machinery
659,853
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(9)
Reference
Rate
(9)
Spread
(9)
Maturity
(10)
Ratings
(2)
Value
Media
-
0.1%
$
932
DirecTV
Financing,
LLC,
Term
Loan
9.635%
1-Month
LIBOR
5.000%
8/02/27
BBB-
$
908,844
Total
Media
908,844
Pharmaceuticals
-
0.4%
976
Jazz
Financing
Lux
S.a.r.l.,
Term
Loan
8.135%
1-Month
LIBOR
3.500%
5/05/28
BB+
975,268
1,398
Organon
&
Co,
Term
Loan
7.750%
3-Month
LIBOR
3.000%
6/02/28
BB
1,387,548
Total
Pharmaceuticals
2,362,816
Semiconductors
&
Semiconductor
Equipment
-
0.1%
772
Ultra
Clean
Holdings,
Inc,
Term
Loan
B
8.385%
1-Month
LIBOR
3.750%
8/27/25
B1
773,602
Total
Semiconductors
&
Semiconductor
Equipment
773,602
Software
-
0.1%
282
Camelot
U.S.
Acquisition
LLC,
Term
Loan
B
7.635%
1-Month
LIBOR
3.000%
10/31/26
B1
281,435
491
IGT
Holding
IV
AB,
Term
Loan
B2
8.380%
3-Month
LIBOR
3.650%
3/29/28
B
486,748
123
Ultimate
Software
Group
Inc
(The),
Term
Loan
8.032%
3-Month
LIBOR
3.250%
5/03/26
B1
120,294
Total
Software
888,477
Specialty
Retail
-
0.2%
523
Les
Schwab
Tire
Centers,
Term
Loan
B
8.064%
3-Month
LIBOR
3.250%
11/02/27
B
517,930
83
LS
Group
OpCo
Acquistion
LLC,
Term
Loan,
(WI/DD)
TBD
TBD
TBD
TBD
N/R
82,170
985
PetSmart,
Inc.,
Term
Loan
B
8.468%
TSFR1M
3.750%
2/12/28
BB
983,665
Total
Specialty
Retail
1,583,765
Total
Variable
Rate
Senior
Loan
Interests
(cost
$21,412,300)
21,059,657
Principal
Amount
(000)
Description
(1)
,(11)
Coupon
Maturity
Ratings
(2)
Value
X
19,061,412
CONTINGENT
CAPITAL
SECURITIES
-
2.9%
X
19,061,412
Banks
-
2.7%
$
1,650
Banco
Bilbao
Vizcaya
Argentaria
SA
6.500%
N/A
(8)
Ba2
$
1,567,500
1,480
Banco
Mercantil
del
Norte
SA/Grand
Cayman,
144A
6.750%
N/A
(8)
Ba2
1,421,022
1,460
Banco
Santander
SA
4.750%
N/A
(8)
Ba1
1,240,416
1,375
Bancolombia
SA
4.625%
12/18/29
Ba3
1,238,188
1,250
Bangkok
Bank
PCL/Hong
Kong,
144A
5.000%
N/A
(8)
Ba1
1,181,832
1,000
Bank
Hapoalim
BM,
144A
,
Reg
S
3.255%
1/21/32
BBB
855,066
1,840
Barclays
PLC
8.000%
N/A
(8)
BBB-
1,803,568
1,500
BNP
Paribas
SA,
144A
9.250%
N/A
(8)
BBB
1,601,250
1,500
Lloyds
Banking
Group
PLC
7.500%
N/A
(8)
Baa3
1,483,286
2,000
Macquarie
Bank
Ltd/London,
144A
6.125%
N/A
(8)
BB+
1,835,368
1,700
Mizrahi
Tefahot
Bank
Ltd,
144A
,
Reg
S
3.077%
4/07/31
BBB
1,480,129
2,000
NatWest
Group
PLC
8.000%
N/A
(8)
BBB-
1,989,700
Total
Banks
17,697,325
Capital
Markets
-
0.2%
1,505
Deutsche
Bank
AG
6.000%
N/A
(8)
Ba2
1,364,087
Total
Capital
Markets
1,364,087
Total
Contingent
Capital
Securities
(cost
$20,749,754)
19,061,412
Investments
in
Derivatives
Shares
Description
(1)
Coupon
Ratings
(2)
Value
X
2,701,936
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
0.4%
X
2,701,936
Capital
Markets
-
0.1%
28,850
Morgan
Stanley
6.500%
BBB
$
737,406
Total
Capital
Markets
737,406
Diversified
Financial
Services
-
0.2%
14,600
AgriBank
FCB
6.875%
BBB+
1,474,600
Total
Diversified
Financial
Services
1,474,600
Insurance
-
0.1%
20,795
Enstar
Group
Ltd
7.000%
BBB-
489,930
Total
Insurance
489,930
Total
$25
Par
(or
similar)
Retail
Preferred
(cost
$2,701,125)
2,701,936
Total
Long-Term
Investments
(cost
$705,409,611)
636,161,043
Shares
Description
(1)
Coupon
Value
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
1.6%
10,719,249
MONEY
MARKET
FUNDS
-
1.6%
X
10,719,249
10,719,249
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
(12)
4.600%(13)
$
10,719,249
Total
Investments
Purchased
with
Collateral
from
Securities
Lending
(cost
$10,719,249)
10,719,249
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
3.2%
20,969,919
REPURCHASE
AGREEMENTS
-
3.2%
20,969,919
$
20,970
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
2/28/23,
repurchase
price
$20,970,712
collateralized
$25,705,500,
U.S.
Treasury
Bond,
3.000%,
due
2/15/48,
value
$21,389,376
1.360%
3/01/23
$
20,969,919
Total
Short-Term
Investments
(cost
$20,969,919)
20,969,919
Total
Investments
(cost
$
737,098,779
)
-
101
.4
%
667,850,211
Other
Assets
&
Liabilities,
Net
- (1.4)%(14)
(
9,540,673
)
Net
Assets
-
100%
$
658,309,538
Credit
Default
Swaps
-
OTC
Uncleared
Counterparty
Referenced
Entity
Buy/Sell
Protection
(15)
Current
Credit
Spread
(16)
Notional
Amount
Fixed
Rate
(Annualized)
Fixed
Rate
Payment
Frequency
Maturity
Date
Value
Premiums
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
Morgan
Stanley
Capital
Services
LLC
CDX.NA.HY.37
Buy
76
.62
%
$
6,500,000
1
.000
%
Quarterly
12/20/27
$
(
159,093
)
$
(
249,561
)
$
90,468
Total
$
6,500,000
$
(
159,093
)
$(249,561)
$
90,468
Futures
Contracts
-
Long
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
Unrealized
Appreciation
(Depreciation)
U.S.
Treasury
Ultra
Bond
400
6/23
$
54,434,215
$
54,025,000
$
(
409,215
)
U.S.
Treasury
Long
Bond
375
6/23
47,208,370
46,957,031
(
251,339
)
Total
$101,642,585
$100,982,031
$(660,554)
Nuveen
Strategic
Income
Fund
(continued)
Portfolio
of
Investments
February
28,
2023
(Unaudited)
Futures
Contracts
-
Short
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
Unrealized
Appreciation
(Depreciation)
U.S.
Treasury
5-Year
Note
(325)
6/23
$
(
34,890,624
)
$
(
34,792,774
)
$
97,850
U.S.
Treasury
2-Year
Note
(225)
6/23
(
45,940,321
)
(
45,838,476
)
101,845
U.S.
Treasury
10-Year
Note
(25)
6/23
(
2,792,917
)
(
2,791,406
)
1,511
Total
$(83,623,862)
$(83,422,656)
$201,206
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.
(2)
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.
(3)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(4)
Principal
Amount
(000)
rounds
to
less
than
$1,000.
(5)
Investment,
or
a
portion
of
investment,
is
out
on
loan
for
securities
lending.
The
total
value
of
the
securities
out
on
loan
as
of
the
end
of
the
reporting
period
was
$10,362,589.
(6)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(7)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(8)
Perpetual
security.
Maturity
date
is
not
applicable.
(9)
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.
(10)
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.
(11)
Contingent
Capital
Securities
(“CoCos”)
are
hybrid
securities
with
loss
absorption
characteristics
built
into
the
terms
of
the
security
for
the
benefit
of
the
issuer.
For
example,
the
terms
may
specify
an
automatic
write-down
of
principal
or
a
mandatory
conversion
into
the
issuer’s
common
stock
under
certain
adverse
circumstances,
such
as
the
issuer’s
capital
ratio
falling
below
a
specified
level.
(12)
The
Fund
may
loan
securities
representing
up
to
one
third
of
the
market
value
of
its
total
assets
(which
includes
collateral
for
securities
on
loan)
to
broker
dealers,
banks,
and
other
institutions.
The
collateral
maintained
by
the
Fund
shall
have
a
market
value,
at
the
inception
of
each
loan,
equal
to
not
less
than
100%
of
the
market
value
of
the
loaned
securities.
The
cash
collateral
received
by
the
Fund
is
invested
in
this
money
market
fund.
(13)
The
rate
shown
is
the
one-day
yield
as
of
the
end
of
the
reporting
period.
(14)
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.
The
unrealized
appreciation
(depreciation)
of
OTC
cleared
and
exchange-
traded
derivatives
is
recognized
as
part
of
the
cash
collateral
at
brokers
and/or
the
receivable
or
payable
for
variation
margin
as
presented
on
the
Statement
of
Assets
and
Liabilities,
when
applicable.
(15)
The
Fund
entered
into
the
credit
default
swaps
to
gain
investment
exposure
to
the
referenced
entity.
Selling
protection
has
a
similar
credit
risk
position
to
owning
the
referenced
entity.
Buying
protection
has
a
similar
credit
risk
position
to
selling
the
referenced
entity
short.
(16)
The
credit
spread
generally
serves
as
an
indication
of
the
current
status
of
the
payment/performance
risk
and
therefore
the
likelihood
of
default
of
the
credit
derivative.
The
credit
spread
also
reflects
the
cost
of
buying/selling
protection
and
may
include
upfront
payments
required
to
be
made
to
enter
into
a
credit
default
swap
contract.
Higher
credit
spreads
are
indicative
of
higher
likelihood
of
performance
by
the
seller
of
protection.
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.
DOP
Dominican
Peso
I/O
Interest
only
security
LIBOR
London
Inter-Bank
Offered
Rate
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.
SOFR
30A
30
Day
Average
Secured
Overnight
Financing
Rate
SOFR
90A
90
Day
Average
Secured
Overnight
Financing
Rate
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.
TSFR
1M
CME
Term
SOFR
1
Month
TSFR
3M
CME
Term
SOFR
3
Month
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
Statement
of
Assets
and
Liabilities
February
28,
2023
(Unaudited)
See
Notes
to
Financial
Statements
Credit
Income
Flexible
Income
Floating
Rate
Income
High
Yield
Income
Preferred
Securities
and
Income
Strategic
Income
Assets
Long-term
investments,
at
value
†‡
$
81,376,851
$
1,281,014,370
$
1,998,241,391
$
474,430,659
$
5,258,921,211
$
636,161,043
Investments
purchased
with
collateral
from
securities
lending,
at
value
(cost
approximates
value)
4,600,887
42,551,356
9,897,813
15,346,961
117,883,151
10,719,249
Short-term
investments,
at
value
◊
–
32,631,972
1,721,278
18,115,055
27,440,640
20,969,919
Cash
–
–
4,869,451
–
7,179,034
20,343
Cash
denominated
in
foreign
currencies
^
15
–
–
–
–
–
Cash
collateral
at
brokers
for
investments
in
futures
contracts
(1)
–
–
–
–
3,802,441
4,060,662
Cash
collateral
at
brokers
for
investments
in
swaps
(1)
–
–
–
–
–
371,700
Unrealized
appreciation
on
credit
default
swaps
–
–
–
–
–
90,468
Receivable
for
dividends
6,944
1,185,199
–
–
7,446,005
51,711
Receivable
for
interest
1,039,343
16,225,148
20,091,913
6,889,616
76,795,074
5,557,930
Receivable
for
investments
sold
1,578,224
58,772
83,835,082
1,772,698
31,174,000
1,519,806
Receivable
for
reclaims
–
105,166
–
–
–
252
Receivable
for
reimbursement
from
Adviser
–
16,287
–
–
–
–
Receivable
for
shares
sold
442,709
1,213,000
3,428,054
774,918
13,399,461
1,788,253
Receivable
for
variation
margin
on
futures
contracts
–
–
–
–
91,406
7,812
Other
assets
72,191
116,014
114,440
251,410
441,181
109,901
Total
assets
89,117,164
1,375,117,284
2,122,199,422
517,581,317
5,544,573,604
681,429,049
Liabilities
Cash
overdraft
87,271
–
–
5
–
–
Cash
overdraft
denominated
in
foreign
currencies
–
–
–
1,030
–
–
Credit
default
swaps
premiums
received
–
–
–
–
–
249,561
Payable
for
collateral
from
securities
lending
4,600,887
42,551,356
9,897,813
15,346,961
117,883,151
10,719,249
Payable
for
dividends
26,242
140,042
1,445,329
83,625
2,837,109
412,216
Payable
for
interest
2,059
–
20,508
–
9,622
207
Payable
for
investments
purchased
-
regular
settlement
284,123
–
2,971,930
42,987
32,747,931
2,773,443
Payable
for
investments
purchased
-
when-issued/
delayed-delivery
settlement
2,177,131
–
91,938,742
18,184,080
–
7,008,097
Payable
for
shares
redeemed
420,342
3,565,066
10,620,429
504,414
17,633,793
1,165,419
Payable
for
unfunded
senior
loans
–
–
1,462,052
–
–
–
Payable
for
variation
margin
on
futures
contracts
–
–
–
–
–
73,828
Accrued
expenses:
Custodian
fees
61,120
149,403
194,245
99,111
389,080
171,803
Management
fees
23,991
630,537
898,195
186,460
2,679,860
212,560
Director/Trustees
fees
41,073
62,573
116,301
57,131
289,495
72,145
Professional
fees
18,990
43,313
52,837
32,746
102,664
32,274
Shareholder
reporting
expenses
17,038
64,464
64,747
41,247
180,662
61,172
Shareholder
servicing
agent
fees
25,562
288,222
426,581
280,880
883,985
128,212
12b-1
distribution
and
service
fees
15,645
180,457
86,817
21,754
234,983
31,258
Other
3,847
2,125
21,689
8,036
35,840
8,067
Total
liabilities
7,805,321
47,677,558
120,218,215
34,890,467
175,908,175
23,119,511
Net
assets
$
81,311,843
$
1,327,439,726
$
2,001,981,207
$
482,690,850
$
5,368,665,429
$
658,309,538
†
Long-term
investments,
cost
$
87,560,633
$
1,390,537,661
$
2,065,154,425
$
496,279,836
$
5,544,576,408
$
705,409,611
◊
Short-term
investments,
cost
$
—
$
32,631,972
$
1,721,278
$
18,115,055
$
27,440,640
$
20,969,919
‡
Includes
securities
loaned
of
$
4,424,801
$
41,169,461
$
9,578,890
$
14,787,121
$
113,398,115
$
10,362,589
^
Cash
denominated
in
foreign
currencies,
cost
$
14
$
—
$
—
$
1,025
$
—
$
—
Statement
of
Assets
and
Liabilities
(Unaudited)
(continued)
See
Notes
to
Financial
Statements
Credit
Income
Flexible
Income
Floating
Rate
Income
High
Yield
Income
Preferred
Securities
and
Income
Strategic
Income
Class
A
Shares
Net
Assets
$
48,984,255
$
212,917,366
$
235,362,656
$
49,426,233
$
508,605,316
$
104,951,284
Shares
outstanding
7,787,590
11,608,916
13,056,057
2,913,917
32,815,134
10,904,504
NAV
and
offering
price
per
share
$
6.29
$
18.34
$
18.03
$
16.96
$
15.50
$
9.62
Maximum
sales
charge
4.75%
4.75%
3.00%
4.75%
4.75%
4.25%
Offering
price
per
share
(NAV
per
share
plus
maximum
sales
charge)
$
6.60
$
19.25
$
18.59
$
17.81
$
16.27
$
10.05
Class
C
Shares
Net
Assets
$
7,763,574
$
176,660,401
$
52,063,240
$
15,608,851
$
174,498,265
$
13,956,318
Shares
outstanding
1,236,018
9,650,365
2,888,058
920,945
11,250,319
1,457,569
NAV
and
offering
price
per
share
$
6.28
$
18.31
$
18.03
$
16.95
$
15.51
$
9.58
Class
R6
Shares
Net
Assets
$
—
$
15,072,389
$
276,620,383
$
14,543,068
$
1,156,210,371
$
238,503,883
Shares
outstanding
—
815,972
15,267,228
852,132
74,373,673
24,694,040
NAV
and
offering
price
per
share
$
—
$
18.47
$
18.12
$
17.07
$
15.55
$
9.66
Class
I
Shares
Net
Assets
$
24,564,014
$
922,789,570
$
1,437,934,928
$
403,112,698
$
3,529,351,477
$
300,898,053
Shares
outstanding
3,896,186
50,251,400
79,665,968
23,736,920
227,510,697
31,266,444
NAV
and
offering
price
per
share
$
6.30
$
18.36
$
18.05
$
16.98
$
15.51
$
9.62
Fund
level
net
assets
consist
of:
Paid-in
capital
$
226,083,108
$
1,636,543,294
$
2,317,021,777
$
720,921,253
$
5,939,179,141
$
797,816,099
Total
distributable
earnings
(loss)
(
144,771,265
)
(
309,103,568
)
(
315,040,570
)
(
238,230,403
)
(
570,513,712
)
(
139,506,561
)
Fund
level
net
assets
$
81,311,843
$
1,327,439,726
$
2,001,981,207
$
482,690,850
$
5,368,665,429
$
658,309,538
Authorized
shares
-
per
class
2
billion
Unlimited
Unlimited
Unlimited
Unlimited
2
billion
Par
value
per
share
$
0.0001
$
0.01
$
0.01
$
0.01
$
0.01
$
0.0001
(1)
Cash
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
derivatives.
Statement
of
Operations
Six
Months
Ended
February
28,
2023
(Unaudited)
See
Notes
to
Financial
Statements
Credit
Income
Flexible
Income
Floating
Rate
Income
High
Yield
Income
Preferred
Securities
and
Income
Investment
Income
Dividends
$
76,947
$
8,119,067
$
1,082,344
$
241,257
$
31,983,695
Interest
3,437,655
29,155,003
82,727,907
16,709,648
124,700,838
Securities
lending
income,
net
24,742
60,285
78,817
62,142
310,282
Other
income
—
50,326
—
—
—
Total
Investment
Income
3,539,344
37,384,681
83,889,068
17,013,047
156,994,815
Expenses
–
–
–
–
–
Management
fees
256,828
4,609,120
6,068,330
1,422,197
16,249,985
12b-1
service
fees
-
Class
A
Shares
62,120
272,013
297,081
62,028
633,314
12b-1
distribution
and
service
fees
-
Class
C
Shares
41,138
939,300
268,372
80,589
873,887
Shareholder
servicing
agent
fees
37,105
421,489
665,401
351,231
1,498,285
Interest
expense
7,793
2,904
311,798
11,876
49,052
Director/Trustees
fees
1,976
30,568
48,750
10,816
114,911
Custodian
expenses
35,325
79,837
168,665
53,004
229,337
Federal
and
state
registration
fees
32,386
61,445
137,968
68,001
143,020
Professional
fees
26,540
21,035
65,288
16,757
146,190
Shareholder
reporting
expenses
17,417
45,191
45,491
23,143
139,659
Other
3,561
7,870
15,097
6,900
17,508
Total
expenses
before
fee
waiver/expense
reimbursement
522,189
6,490,772
8,092,241
2,106,542
20,095,148
Fee
waiver/expense
reimbursement
(93,502)
(450,628)
—
(182,357)
—
Net
expenses
428,687
6,040,144
8,092,241
1,924,185
20,095,148
Net
investment
income
(loss)
3,110,657
31,344,537
75,796,827
15,088,862
136,899,667
Realized
and
Unrealized
Gain
(Loss)
Net
realized
gain
(loss)
from
investments
(4,630,537)
(40,342,449)
(31,704,954)
(35,039,305)
(20,251,009)
Net
realized
gain
(loss)
from
futures
contracts
—
—
—
—
1,655,118
Net
realized
gain
(loss)
from
swaps
(23,932)
—
—
—
—
Net
realized
gain
(loss)
(4,654,469)
(40,342,449)
(31,704,954)
(35,039,305)
(18,595,891)
Change
in
net
unrealized
appreciation
(depreciation)
of
investments
2,771,376
14,617,797
22,386,599
29,978,808
30,151,920
Change
in
net
unrealized
appreciation
(depreciation)
of
futures
contracts
—
—
—
—
(127,181)
Change
in
net
unrealized
appreciation
(depreciation)
of
swaps
79,080
—
—
—
—
Change
in
net
unrealized
appreciation
(depreciation)
2,850,456
14,617,797
22,386,599
29,978,808
30,024,739
Net
realized
and
unrealized
gain
(loss)
(1,804,013)
(25,724,652)
(9,318,355)
(5,060,497)
11,428,848
Net
increase
(decrease)
in
net
assets
from
operations
$
1,306,644
$
5,619,885
$
66,478,472
$
10,028,365
$
148,328,515
Statement
of
Operations
(Unaudited)
(continued)
See
Notes
to
Financial
Statements
Strategic
Income
Investment
Income
Dividends
$
145,366
Interest
18,325,454
Securities
lending
income,
net
68,027
Total
Investment
Income
18,538,847
Expenses
–
Management
fees
1,742,186
12b-1
service
fees
-
Class
A
Shares
128,610
12b-1
distribution
and
service
fees
-
Class
C
Shares
76,115
Shareholder
servicing
agent
fees
204,639
Director/Trustees
fees
14,827
Custodian
expenses
130,793
Federal
and
state
registration
fees
47,311
Professional
fees
64,463
Shareholder
reporting
expenses
54,702
Other
4,441
Total
expenses
before
fee
waiver/expense
reimbursement
2,468,087
Fee
waiver/expense
reimbursement
(468,453)
Net
expenses
1,999,634
Net
investment
income
(loss)
16,539,213
Realized
and
Unrealized
Gain
(Loss)
Net
realized
gain
(loss)
from
investments
and
foreign
currency
(18,979,183)
Net
realized
gain
(loss)
from
futures
contracts
189,935
Net
realized
gain
(loss)
from
swaps
40,283
Net
realized
gain
(loss)
(18,748,965)
Change
in
net
unrealized
appreciation
(depreciation)
of
investments
and
foreign
currency
7,982,717
Change
in
net
unrealized
appreciation
(depreciation)
of
futures
contracts
(1,360,407)
Change
in
net
unrealized
appreciation
(depreciation)
of
swaps
90,468
Change
in
net
unrealized
appreciation
(depreciation)
6,712,778
Net
realized
and
unrealized
gain
(loss)
(12,036,187)
Net
increase
(decrease)
in
net
assets
from
operations
$
4,503,026
Statement
of
Changes
in
Net
Assets
See
Notes
to
Financial
Statements
Credit
Income
Unaudited
Six
Months
Ended
2/28/23
Two
Months
Ended
8/31/22
Year
Ended
6/30/22
Operations
Net
investment
income
(loss)
$
3,110,657
$
959,343
$
5,953,454
Net
realized
gain
(loss)
(4,654,469)
(1,003,130)
(4,695,087)
Change
in
net
unrealized
appreciation
(depreciation)
2,850,456
2,388,758
(14,563,484)
Net
increase
(decrease)
in
net
assets
from
operations
1,306,644
2,344,971
(13,305,117)
Distributions
to
Shareholders
Dividends:
Class
A
Shares
(1,494,811)
(411,848)
(2,925,697)
Class
C
Shares
(217,490)
(58,807)
(478,065)
Class
I
Shares
(851,376)
(351,885)
(2,603,591)
Return
of
capital:
Class
A
Shares
—
(51,865)
—
Class
C
Shares
—
(8,920)
—
Class
I
Shares
—
(41,134)
—
Decrease
in
net
assets
from
distributions
to
shareholders
(2,563,677)
(924,459)
(6,007,353)
Fund
Share
Transactions
Common
shares:
Proceeds
from
sale
of
shares
12,211,270
36,718,906
74,478,583
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
2,365,380
880,503
5,693,978
14,576,650
37,599,409
80,172,561
Cost
of
shares
redeemed
(53,547,977)
(3,138,025)
(162,306,703)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(38,971,327)
34,461,384
(82,134,142)
Net
increase
(decrease)
in
net
assets
(40,228,360)
35,881,896
(101,446,612)
Net
assets
at
the
beginning
of
period
121,540,203
85,658,307
187,104,919
Net
assets
at
the
end
of
period
$
81,311,843
$
121,540,203
$
85,658,307
See
Notes
to
Financial
Statements
Flexible
Income
Unaudited
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
Operations
Net
investment
income
(loss)
$
31,344,537
$
62,071,452
$
65,072,855
Net
realized
gain
(loss)
(40,342,449)
(22,798,159)
13,410,158
Change
in
net
unrealized
appreciation
(depreciation)
14,617,797
(249,507,043)
64,776,783
Net
increase
(decrease)
in
net
assets
from
operations
5,619,885
(210,233,750)
143,259,796
Distributions
to
Shareholders
Dividends:
Class
A
Shares
(8,314,663)
(11,797,013)
(12,116,702)
Class
C
Shares
(6,440,545)
(8,946,228)
(9,533,349)
Class
R6
Shares
(572,534)
(742,040)
(460,978)
Class
I
Shares
(37,070,143)
(55,624,570)
(52,878,328)
Decrease
in
net
assets
from
distributions
to
shareholders
(52,397,885)
(77,109,851)
(74,989,357)
Fund
Share
Transactions
Common
shares:
Proceeds
from
sale
of
shares
121,198,910
384,514,694
583,992,891
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
51,250,442
75,334,744
73,767,550
172,449,352
459,849,438
657,760,441
Cost
of
shares
redeemed
(292,932,130)
(551,362,571)
(446,475,445)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(120,482,778)
(91,513,133)
211,284,996
Net
increase
(decrease)
in
net
assets
(167,260,778)
(378,856,734)
279,555,435
Net
assets
at
the
beginning
of
period
1,494,700,504
1,873,557,238
1,594,001,803
Net
assets
at
the
end
of
period
$
1,327,439,726
$
1,494,700,504
$
1,873,557,238
See
Notes
to
Financial
Statements
Floating
Rate
Income
Unaudited
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
Operations
Net
investment
income
(loss)
$
75,796,827
$
69,005,555
$
32,669,283
Net
realized
gain
(loss)
(31,704,954)
(16,720,970)
(8,740,231)
Change
in
net
unrealized
appreciation
(depreciation)
22,386,599
(94,351,288)
62,295,861
Net
increase
(decrease)
in
net
assets
from
operations
66,478,472
(42,066,703)
86,224,913
Distributions
to
Shareholders
Dividends:
Class
A
Shares
(8,485,635)
(7,138,690)
(3,923,887)
Class
C
Shares
(1,719,973)
(1,309,874)
(1,099,742)
Class
R6
Shares
(9,586,402)
(7,141,660)
(3,286,851)
Class
I
Shares
(58,742,408)
(54,925,152)
(26,580,531)
Decrease
in
net
assets
from
distributions
to
shareholders
(78,534,418)
(70,515,376)
(34,891,011)
Fund
Share
Transactions
Common
shares:
Proceeds
from
sale
of
shares
681,881,652
2,635,293,845
648,316,331
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
69,823,924
62,585,772
31,264,656
751,705,576
2,697,879,617
679,580,987
Cost
of
shares
redeemed
(1,061,965,085)
(1,329,659,883)
(377,359,108)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(310,259,509)
1,368,219,734
302,221,879
Net
increase
(decrease)
in
net
assets
(322,315,455)
1,255,637,655
353,555,781
Net
assets
at
the
beginning
of
period
2,324,296,662
1,068,659,007
715,103,226
Net
assets
at
the
end
of
period
$
2,001,981,207
$
2,324,296,662
$
1,068,659,007
See
Notes
to
Financial
Statements
High
Yield
Income
Unaudited
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
Operations
Net
investment
income
(loss)
$
15,088,862
$
25,315,836
$
27,444,946
Net
realized
gain
(loss)
(35,039,305)
(30,363,069)
14,738,521
Change
in
net
unrealized
appreciation
(depreciation)
29,978,808
(58,618,202)
26,995,711
Net
increase
(decrease)
in
net
assets
from
operations
10,028,365
(63,665,435)
69,179,178
Distributions
to
Shareholders
Dividends:
Class
A
Shares
(1,431,035)
(2,268,525)
(2,442,754)
Class
C
Shares
(403,914)
(817,974)
(1,478,044)
Class
R6
Shares
(411,319)
(347,690)
(382,235)
Class
I
Shares
(12,029,210)
(21,870,651)
(27,432,689)
Decrease
in
net
assets
from
distributions
to
shareholders
(14,275,478)
(25,304,840)
(31,735,722)
Fund
Share
Transactions
Common
shares:
Proceeds
from
sale
of
shares
66,433,717
319,175,710
297,420,498
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
13,796,012
24,364,224
30,297,730
80,229,729
343,539,934
327,718,228
Cost
of
shares
redeemed
(128,708,753)
(390,244,003)
(204,424,085)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(48,479,024)
(46,704,069)
123,294,143
Net
increase
(decrease)
in
net
assets
(52,726,137)
(135,674,344)
160,737,599
Net
assets
at
the
beginning
of
period
535,416,987
671,091,331
510,353,732
Net
assets
at
the
end
of
period
$
482,690,850
$
535,416,987
$
671,091,331
See
Notes
to
Financial
Statements
Preferred
Securities
and
Income
Unaudited
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
Operations
Net
investment
income
(loss)
$
136,899,667
$
221,194,609
$
214,372,042
Net
realized
gain
(loss)
(18,595,891)
(27,446,227)
18,018,153
Change
in
net
unrealized
appreciation
(depreciation)
30,024,739
(696,519,836)
273,778,659
Net
increase
(decrease)
in
net
assets
from
operations
148,328,515
(502,771,454)
506,168,854
Distributions
to
Shareholders
Dividends:
Class
A
Shares
(13,989,776)
(25,258,186)
(24,863,918)
Class
C
Shares
(4,192,703)
(7,777,840)
(9,343,513)
Class
R3
Shares
(1)
—
—
(123,631)
Class
R6
Shares
(30,617,350)
(45,822,169)
(33,907,594)
Class
I
Shares
(95,376,406)
(166,609,787)
(164,197,788)
Return
of
capital:
Class
A
Shares
—
(864,230)
—
Class
C
Shares
—
(317,696)
—
Class
R3
Shares
—
—
—
Class
R6
Shares
—
(1,475,493)
—
Class
I
Shares
—
(5,423,300)
—
Decrease
in
net
assets
from
distributions
to
shareholders
(144,176,235)
(253,548,701)
(232,436,444)
Fund
Share
Transactions
Common
shares:
Proceeds
from
sale
of
shares
1,527,741,308
2,467,230,498
2,511,404,036
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
128,167,302
223,486,739
202,562,578
1,655,908,610
2,690,717,237
2,713,966,614
Cost
of
shares
redeemed
(1,417,718,455)
(2,424,701,187)
(1,314,089,393)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
238,190,155
266,016,050
1,399,877,221
Net
increase
(decrease)
in
net
assets
242,342,435
(490,304,105)
1,673,609,631
Net
assets
at
the
beginning
of
period
5,126,322,994
5,616,627,099
3,943,017,468
Net
assets
at
the
end
of
period
$
5,368,665,429
$
5,126,322,994
$
5,616,627,099
See
Notes
to
Financial
Statements
Strategic
Income
Unaudited
Six
Months
Ended
2/28/23
Two
Months
Ended
8/31/22
Year
Ended
6/30/22
Operations
Net
investment
income
(loss)
$
16,539,213
$
5,020,408
$
27,531,160
Net
realized
gain
(loss)
(18,748,965)
(5,665,269)
(8,053,495)
Change
in
net
unrealized
appreciation
(depreciation)
6,712,778
14,532,451
(112,557,293)
Net
increase
(decrease)
in
net
assets
from
operations
4,503,026
13,887,590
(93,079,628)
Distributions
to
Shareholders
Dividends:
Class
A
Shares
(2,465,734)
(719,094)
(3,806,231)
Class
C
Shares
(306,967)
(108,128)
(613,221)
Class
R6
Shares
(5,960,162)
(1,806,717)
(8,731,621)
Class
I
Shares
(7,565,153)
(2,530,818)
(13,540,313)
Decrease
in
net
assets
from
distributions
to
shareholders
(16,298,016)
(5,164,757)
(26,691,386)
Fund
Share
Transactions
Common
shares:
Proceeds
from
sale
of
shares
104,039,672
45,375,187
365,153,490
Proceeds
from
shares
issued
to
shareholders
due
to
reinvestment
of
distributions
13,634,075
4,245,251
21,214,611
117,673,747
49,620,438
386,368,101
Cost
of
shares
redeemed
(141,161,392)
(56,355,925)
(238,194,913)
Net
increase
(decrease)
in
net
assets
from
Fund
share
transactions
(23,487,645)
(6,735,487)
148,173,188
Net
increase
(decrease)
in
net
assets
(35,282,635)
1,987,346
28,402,174
Net
assets
at
the
beginning
of
period
693,592,173
691,604,827
663,202,653
Net
assets
at
the
end
of
period
$
658,309,538
$
693,592,173
$
691,604,827
(1)
Class
R3
Shares
were
converted
to
Class
A
Shares
at
the
close
of
business
on
June
4,
2021
and
are
no
longer
available
for
reinvestment
or
through
an
exchange
from
other
Nuveen
mutual
funds.
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
NAV
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Accumulated
Net
Realized
Gains
Return
of
Capital
Total
Ending
NAV
Credit
Income
Class
A
8/31/23(e)
$
6.36
$
0.23
$
(0.11)
$
0.12
$
(0.19)
$
—
$
—
$
(0.19)
$
6.29
8/31/22(g)
6.22
0.06
0.14
0.20
(0.05)
—
(0.01)
(0.06)
6.36
6/30/22
7.42
0.32
(1.20)
(0.88)
(0.32)
—
—
(0.32)
6.22
6/30/21
6.69
0.34
0.71
1.05
(0.32)
—
—
(0.32)
7.42
6/30/20
7.44
0.38
(0.75)
(0.37)
(0.35)
—
(0.03)
(0.38)
6.69
6/30/19
7.51
0.46
(0.04)
0.42
(0.49)
—
—
(0.49)
7.44
6/30/18
7.80
0.52
(0.28)
0.24
(0.53)
—
—
(0.53)
7.51
Class
C
8/31/23(e)
6.35
0.20
(0.11)
0.09
(0.16)
—
—
(0.16)
6.28
8/31/22(g)
6.21
0.05
0.14
0.19
(0.04)
—
(0.01)
(0.05)
6.35
6/30/22
7.41
0.26
(1.19)
(0.93)
(0.27)
—
—
(0.27)
6.21
6/30/21
6.69
0.29
0.70
0.99
(0.27)
—
—
(0.27)
7.41
6/30/20
7.43
0.33
(0.74)
(0.41)
(0.30)
—
(0.03)
(0.33)
6.69
6/30/19
7.50
0.40
(0.04)
0.36
(0.43)
—
—
(0.43)
7.43
6/30/18
7.79
0.46
(0.28)
0.18
(0.47)
—
—
(0.47)
7.50
Class
I
8/31/23(e)
6.37
0.23
(0.10)
0.13
(0.20)
—
—
(0.20)
6.30
8/31/22(g)
6.23
0.06
0.14
0.20
(0.05)
—
(0.01)
(0.06)
6.37
6/30/22
7.45
0.34
(1.22)
(0.88)
(0.34)
—
—
(0.34)
6.23
6/30/21
6.71
0.36
0.72
1.08
(0.34)
—
—
(0.34)
7.45
6/30/20
7.47
0.40
(0.76)
(0.36)
(0.37)
—
(0.03)
(0.40)
6.71
6/30/19
7.54
0.48
(0.04)
0.44
(0.51)
—
—
(0.51)
7.47
6/30/18
7.82
0.54
(0.27)
0.27
(0.55)
—
—
(0.55)
7.54
(a)
Based
on
average
shares
outstanding.
(b)
Total
return
is
the
combination
of
changes
in
NAV
without
any
sales
charge,
reinvested
dividend
income
at
NAV
and
reinvested
capital
gains
distributions
at
NAV,
if
any.
Total
returns
are
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable. See
Notes
to
Financial
Statements
for
more
information.
(d)
Portfolio
Turnover
Rate
is
calculated
based
on
the
lesser
of
long-term
purchases
or
sales
(as
disclosed
in
Notes
to
Financial
Statements)
divided
by
the
average
long-term
market
value
during
the
period.
(e)
Unaudited. For
the
six
months
ended
February
28,
2023.
(f)
Annualized.
(g)
For
the
two
months
ended
August
31,
2022.
Prior
to
July
1,
2022,
the
Fund's
fiscal
year
end
was
June
30th.
See
Notes
to
Financial
Statements
Ratio/Supplemental
Data
Ratios
to
Average
Net
Assets
Total
Return(b)
Ending
Net
Assets
(000)
Gross
Expenses
Net
Expenses(c)
NII
(Loss)(c)
Portfolio
Turnover
Rate(d)
1.90
%
$
48,984
1.23
%
(f)
1.01
%
(f)
7.33
%
(f)
51
%
3.16
51,908
1.50
(f)
1.03
(f)
5.53
(f)
6
(12.23)
51,332
1.15
1.00
4.51
120
16.01
77,953
1.12
1.00
4.75
196
(5.15)
82,545
1.12
1.00
5.31
80
5.86
151,673
1.01
1.00
6.19
113
3.16
126,376
1.04
1.00
6.70
126
1.54
7,764
1.98
(f)
1.76
(f)
6.57
(f)
51
3.02
8,926
2.25
(f)
1.78
(f)
4.77
(f)
6
(12.92)
8,887
1.90
1.75
3.70
120
15.03
15,101
1.87
1.75
4.02
196
(5.75)
22,612
1.87
1.75
4.58
80
5.04
35,655
1.77
1.75
5.46
113
2.37
41,121
1.80
1.75
6.00
126
2.04
24,564
0.98
(f)
0.76
(f)
7.36
(f)
51
3.20
60,706
1.25
(f)
0.78
(f)
5.55
(f)
6
(12.23)
25,439
0.90
0.75
4.63
120
16.40
94,051
0.87
0.75
4.99
196
(5.03)
80,728
0.86
0.75
5.47
80
6.10
101,560
0.76
0.75
6.45
113
3.52
139,777
0.79
0.75
6.95
126
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
NAV
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Accumulated
Net
Realized
Gains
Total
Ending
NAV
Flexible
Income
Class
A
8/31/23(f)
$
18.93
$
0.41
$
(0.30)
$
0.11
$
(0.70)
$
—
$
(0.70)
$
18.34
8/31/22(h)
22.27
0.72
(3.16)
(2.44)
(0.90)
—
(0.90)
18.93
9/30/21
21.36
0.81
1.04
1.85
(0.94)
—
(0.94)
22.27
9/30/20
22.06
0.88
(0.39)
0.49
(1.19)
—
(1.19)
21.36
9/30/19
21.44
1.02
0.76
1.78
(1.16)
—
(1.16)
22.06
9/30/18
22.13
1.01
(0.52)
0.49
(1.18)
—
(1.18)
21.44
Class
C
8/31/23(f)
18.90
0.34
(0.30)
0.04
(0.63)
—
(0.63)
18.31
8/31/22(h)
22.22
0.58
(3.15)
(2.57)
(0.75)
—
(0.75)
18.90
9/30/21
21.31
0.64
1.04
1.68
(0.77)
—
(0.77)
22.22
9/30/20
22.01
0.72
(0.39)
0.33
(1.03)
—
(1.03)
21.31
9/30/19
21.40
0.86
0.75
1.61
(1.00)
—
(1.00)
22.01
9/30/18
22.08
0.85
(0.52)
0.33
(1.01)
—
(1.01)
21.40
Class
R6
8/31/23(f)
19.06
0.44
(0.29)
0.15
(0.74)
—
(0.74)
18.47
8/31/22(h)
22.42
0.79
(3.19)
(2.40)
(0.96)
—
(0.96)
19.06
9/30/21
21.50
0.89
1.04
1.93
(1.01)
—
(1.01)
22.42
9/30/20
22.20
0.96
(0.40)
0.56
(1.26)
—
(1.26)
21.50
9/30/19
21.57
1.11
0.74
1.85
(1.22)
—
(1.22)
22.20
9/30/18
22.19
1.13
(0.51)
0.62
(1.24)
—
(1.24)
21.57
Class
I
8/31/23(f)
18.95
0.44
(0.30)
0.14
(0.73)
—
(0.73)
18.36
8/31/22(h)
22.29
0.77
(3.16)
(2.39)
(0.95)
—
(0.95)
18.95
9/30/21
21.38
0.87
1.03
1.90
(0.99)
—
(0.99)
22.29
9/30/20
22.08
0.93
(0.39)
0.54
(1.24)
—
(1.24)
21.38
9/30/19
21.47
1.08
0.74
1.82
(1.21)
—
(1.21)
22.08
9/30/18
22.16
1.07
(0.53)
0.54
(1.23)
—
(1.23)
21.47
(a)
Based
on
average
shares
outstanding.
(b)
Total
return
is
the
combination
of
changes
in
NAV
without
any
sales
charge,
reinvested
dividend
income
at
NAV
and
reinvested
capital
gains
distributions
at
NAV,
if
any.
Total
returns
are
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable. See
Notes
to
Financial
Statements
for
more
information.
(d)
Includes
voluntary
compensation
from
the
Adviser
as
further
described
in
the
Notes
to
the
Financial
Statements.
(e)
Portfolio
Turnover
Rate
is
calculated
based
on
the
lesser
of
long-term
purchases
or
sales
(as
disclosed
in
Notes
to
Financial
Statements)
divided
by
the
average
long-term
market
value
during
the
period.
(f)
Unaudited. For
the
six
months
ended
February
28,
2023.
(g)
Annualized.
(h)
For
the
eleven
months
ended
August
31,
2022.
Prior
to
July
1,
2022,
the
Fund's
fiscal
year
end
was
September
30th.
See
Notes
to
Financial
Statements
Ratio/Supplemental
Data
Ratios
to
Average
Net
Assets
Total
Return(b)
Ending
Net
Assets
(000)
Gross
Expenses
Net
Expenses(c)
NII
(Loss)(c),(d)
Portfolio
Turnover
Rate(e)
0.67
%
$
212,917
1.02
%
(g)
0.96
%
(g)
4.51
%
(g)
14
%
(11.18)
230,505
1.02
(g)
0.95
(g)
3.78
(g)
31
8.71
298,734
1.04
0.95
3.66
30
2.35
264,865
1.04
0.96
4.13
38
8.69
221,484
1.06
0.96
4.85
24
2.27
176,014
1.08
0.96
4.66
29
0.30
176,660
1.77
(g)
1.71
(g)
3.76
(g)
14
(11.81)
208,775
1.77
(g)
1.70
(g)
3.03
(g)
31
7.97
276,035
1.79
1.70
2.91
30
1.59
262,068
1.79
1.71
3.38
38
7.85
223,364
1.81
1.71
4.10
24
1.49
182,049
1.83
1.71
3.91
29
0.84
15,072
0.71
(g)
0.65
(g)
4.82
(g)
14
(10.96)
15,113
0.71
(g)
0.64
(g)
4.12
(g)
31
9.09
14,881
0.72
0.64
3.97
30
2.69
6,682
0.72
0.64
4.46
38
9.03
649
0.74
0.64
5.22
24
2.86
272
0.75
0.64
5.12
29
0.80
922,790
0.77
(g)
0.71
(g)
4.76
(g)
14
(11.00)
1,040,308
0.77
(g)
0.70
(g)
4.03
(g)
31
9.02
1,283,908
0.79
0.70
3.90
30
2.60
1,060,386
0.79
0.71
4.38
38
8.91
961,413
0.80
0.71
5.09
24
2.53
632,596
0.83
0.71
4.92
29
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
m
Investment
Operations
Less
Distributions
Beginning
NAV
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Accumulated
Net
Realized
Gains
Total
Ending
NAV
Floating
Rate
Income
Class
A
8/31/23(e)
$
18.11
$
0.61
$
(0.05)
$
0.56
$
(0.64)
$
—
$
(0.64)
$
18.03
8/31/22(g)
19.06
0.63
(0.93)
(0.30)
(0.65)
—
(0.65)
18.11
9/30/21
17.80
0.72
1.32
2.04
(0.78)
—
(0.78)
19.06
9/30/20
19.08
0.80
(1.14)
(0.34)
(0.94)
—
(0.94)
17.80
9/30/19
19.65
0.93
(0.56)
0.37
(0.94)
—
(0.94)
19.08
9/30/18
19.64
0.79
0.05
0.84
(0.83)
—
(0.83)
19.65
Class
C
8/31/23(e)
18.11
0.55
(0.06)
0.49
(0.57)
—
(0.57)
18.03
8/31/22(g)
19.06
0.50
(0.93)
(0.43)
(0.52)
—
(0.52)
18.11
9/30/21
17.80
0.59
1.31
1.90
(0.64)
—
(0.64)
19.06
9/30/20
19.08
0.66
(1.14)
(0.48)
(0.80)
—
(0.80)
17.80
9/30/19
19.65
0.79
(0.56)
0.23
(0.80)
—
(0.80)
19.08
9/30/18
19.63
0.64
0.06
0.70
(0.68)
—
(0.68)
19.65
Class
R6
8/31/23(e)
18.21
0.65
(0.07)
0.58
(0.67)
—
(0.67)
18.12
8/31/22(g)
19.16
0.69
(0.93)
(0.24)
(0.71)
—
(0.71)
18.21
9/30/21
17.88
0.79
1.33
2.12
(0.84)
—
(0.84)
19.16
9/30/20
19.17
0.86
(1.15)
(0.29)
(1.00)
—
(1.00)
17.88
9/30/19
19.73
1.06
(0.62)
0.44
(1.00)
—
(1.00)
19.17
9/30/18
19.68
0.90
0.02
0.92
(0.87)
—
(0.87)
19.73
Class
I
8/31/23(e)
18.14
0.63
(0.06)
0.57
(0.66)
—
(0.66)
18.05
8/31/22(g)
19.08
0.67
(0.92)
(0.25)
(0.69)
—
(0.69)
18.14
9/30/21
17.81
0.77
1.32
2.09
(0.82)
—
(0.82)
19.08
9/30/20
19.10
0.84
(1.15)
(0.31)
(0.98)
—
(0.98)
17.81
9/30/19
19.67
0.97
(0.55)
0.42
(0.99)
—
(0.99)
19.10
9/30/18
19.65
0.84
0.05
0.89
(0.87)
—
(0.87)
19.67
(a)
Based
on
average
shares
outstanding.
(b)
Total
return
is
the
combination
of
changes
in
NAV
without
any
sales
charge,
reinvested
dividend
income
at
NAV
and
reinvested
capital
gains
distributions
at
NAV,
if
any.
Total
returns
are
not
annualized.
(c)
The
Fund
has
a
contractual
fee
waiver/expense
reimbursement
agreement
with
the
Adviser,
but
did
not
receive
a
fee
waiver/expense
reimbursement
during
the
periods
presented
herein.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Portfolio
Turnover
Rate
is
calculated
based
on
the
lesser
of
long-term
purchases
or
sales
(as
disclosed
in
Notes
to
Financial
Statements)
divided
by
the
average
long-term
market
value
during
the
period.
(e)
Unaudited. For
the
six
months
ended
February
28,
2023.
(f)
Annualized.
(g)
For
the
eleven
months
ended
August
31,
2022.
Prior
to
July
1,
2022,
the
Fund's
fiscal
year
end
was
September
30th.
See
Notes
to
Financial
Statements
Ratio/Supplemental
Data
Ratios
to
Average
Net
Assets
Total
Return(b)
Ending
Net
Assets
(000)
Expenses(c)
NII
(Loss)(c)
Portfolio
Turnover
Rate(d)
3.15
%
$
235,363
0.96
%
(f)
6.89
%
(f)
13
%
(1.61)
246,410
0.94
(f)
3.70
(f)
37
11.67
121,925
1.03
3.88
52
(1.81)
90,684
1.01
4.43
63
1.93
112,723
1.00
4.81
32
4.40
220,648
1.04
4.02
33
2.78
52,063
1.71
(f)
6.15
(f)
13
(2.30)
55,285
1.69
(f)
2.93
(f)
37
10.79
34,192
1.78
3.14
52
(2.50)
33,375
1.76
3.66
63
1.21
53,639
1.75
4.10
32
3.61
87,289
1.79
3.28
33
3.27
276,620
0.64
(f)
7.29
(f)
13
(1.29)
227,215
0.61
(f)
4.03
(f)
37
12.03
83,970
0.70
4.20
52
(1.46)
55,634
0.67
4.75
63
2.34
54,122
0.66
5.53
32
4.80
2,298
0.65
4.58
33
3.23
1,437,935
0.71
(f)
7.11
(f)
13
(1.32)
1,795,387
0.69
(f)
3.97
(f)
37
11.93
828,572
0.78
4.10
52
(1.56)
535,410
0.76
4.65
63
2.24
895,304
0.76
5.04
32
4.65
2,126,985
0.79
4.29
33
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
NAV
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Accumulated
Net
Realized
Gains
Total
Ending
NAV
High
Yield
Income
Class
A
8/31/23(e)
$
17.09
$
0.51
$
(0.16)
$
0.35
$
(0.48)
$
—
$
(0.48)
$
16.96
8/31/22(g)
19.77
0.77
(2.68)
(1.91)
(0.77)
—
(0.77)
17.09
9/30/21
18.51
0.86
1.40
2.26
(1.00)
—
(1.00)
19.77
9/30/20
20.16
1.04
(1.57)
(0.53)
(1.12)
—
(1.12)
18.51
9/30/19
20.14
1.03
0.07
1.10
(1.08)
—
(1.08)
20.16
9/30/18
20.36
1.04
(0.12)
0.92
(1.14)
—
(1.14)
20.14
Class
C
8/31/23(e)
17.08
0.45
(0.16)
0.29
(0.42)
—
(0.42)
16.95
8/31/22(g)
19.75
0.64
(2.67)
(2.03)
(0.64)
—
(0.64)
17.08
9/30/21
18.49
0.72
1.40
2.12
(0.86)
—
(0.86)
19.75
9/30/20
20.14
0.89
(1.56)
(0.67)
(0.98)
—
(0.98)
18.49
9/30/19
20.11
0.88
0.08
0.96
(0.93)
—
(0.93)
20.14
9/30/18
20.33
0.89
(0.13)
0.76
(0.98)
—
(0.98)
20.11
Class
R6
8/31/23(e)
17.19
0.55
(0.15)
0.40
(0.52)
—
(0.52)
17.07
8/31/22(g)
19.88
0.84
(2.70)
(1.86)
(0.83)
—
(0.83)
17.19
9/30/21
18.60
0.93
1.42
2.35
(1.07)
—
(1.07)
19.88
9/30/20
20.25
1.11
(1.57)
(0.46)
(1.19)
—
(1.19)
18.60
9/30/19
20.22
1.11
0.07
1.18
(1.15)
—
(1.15)
20.25
9/30/18
20.42
1.12
(0.13)
0.99
(1.19)
—
(1.19)
20.22
Class
I
8/31/23(e)
17.11
0.53
(0.16)
0.37
(0.50)
—
(0.50)
16.98
8/31/22(g)
19.79
0.81
(2.67)
(1.86)
(0.82)
—
(0.82)
17.11
9/30/21
18.53
0.91
1.40
2.31
(1.05)
—
(1.05)
19.79
9/30/20
20.17
1.08
(1.55)
(0.47)
(1.17)
—
(1.17)
18.53
9/30/19
20.15
1.08
0.07
1.15
(1.13)
—
(1.13)
20.17
9/30/18
20.37
1.10
(0.13)
0.97
(1.19)
—
(1.19)
20.15
(a)
Based
on
average
shares
outstanding.
(b)
Total
return
is
the
combination
of
changes
in
NAV
without
any
sales
charge,
reinvested
dividend
income
at
NAV
and
reinvested
capital
gains
distributions
at
NAV,
if
any.
Total
returns
are
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable. See
Notes
to
Financial
Statements
for
more
information.
(d)
Portfolio
Turnover
Rate
is
calculated
based
on
the
lesser
of
long-term
purchases
or
sales
(as
disclosed
in
Notes
to
Financial
Statements)
divided
by
the
average
long-term
market
value
during
the
period.
(e)
Unaudited. For
the
six
months
ended
February
28,
2023.
(f)
Annualized.
(g)
For
the
eleven
months
ended
August
31,
2022.
Prior
to
July
1,
2022,
the
Fund's
fiscal
year
end
was
September
30th.
See
Notes
to
Financial
Statements
Ratio/Supplemental
Data
Ratios
to
Average
Net
Assets
Total
Return(b)
Ending
Net
Assets
(000)
Gross
Expenses
Net
Expenses(c)
NII
(Loss)(c)
Portfolio
Turnover
Rate(d)
2.13
%
$
49,426
1.07
%
(f)
1.00
%
(f)
6.10
%
(f)
92
%
(9.85)
50,895
1.05
(f)
1.00
(f)
4.54
(f)
116
12.44
53,994
1.06
0.99
4.40
134
(2.58)
39,747
1.04
1.00
5.43
128
5.73
47,647
1.04
1.00
5.22
70
4.68
52,494
1.04
1.00
5.19
43
1.75
15,609
1.82
(f)
1.75
(f)
5.34
(f)
92
(10.46)
18,123
1.80
(f)
1.75
(f)
3.76
(f)
116
11.61
30,391
1.81
1.75
3.69
134
(3.33)
36,222
1.80
1.75
4.70
128
4.94
54,408
1.80
1.75
4.47
70
3.93
63,854
1.79
1.75
4.43
43
2.32
14,543
0.67
(f)
0.60
(f)
6.59
(f)
92
(9.50)
7,779
0.67
(f)
0.62
(f)
4.94
(f)
116
12.87
7,568
0.70
0.63
4.78
134
(2.19)
6,567
0.68
0.63
5.82
128
6.09
6,651
0.68
0.64
5.58
70
5.09
7,064
0.68
0.64
5.54
43
2.25
403,113
0.82
(f)
0.75
(f)
6.34
(f)
92
(9.63)
458,620
0.80
(f)
0.75
(f)
4.77
(f)
116
12.69
579,139
0.81
0.74
4.66
134
(2.29)
427,818
0.79
0.75
5.67
128
5.98
492,539
0.79
0.75
5.45
70
4.93
586,060
0.79
0.75
5.45
43
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
NAV
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Accumulated
Net
Realized
Gains
Return
of
Capital
Total
Ending
NAV
Preferred
Securities
and
Income
Class
A
8/31/23(e)
$
15.49
$
0.39
$
0.04
$
0.43
$
(0.42)
$
—
$
—
$
(0.42)
$
15.50
8/31/22(g)
17.84
0.66
(2.25)
(1.59)
(0.73)
—
(0.03)
(0.76)
15.49
9/30/21
16.73
0.76
1.18
1.94
(0.83)
—
—
(0.83)
17.84
9/30/20
17.21
0.83
(0.45)
0.38
(0.86)
—
—
(0.86)
16.73
9/30/19
16.75
0.90
0.46
1.36
(0.90)
—
—
(0.90)
17.21
9/30/18
17.72
0.90
(0.97)
(0.07)
(0.90)
—
—
(0.90)
16.75
Class
C
8/31/23(e)
15.50
0.34
0.03
0.37
(0.36)
—
—
(0.36)
15.51
8/31/22(g)
17.85
0.55
(2.26)
(1.71)
(0.61)
—
(0.03)
(0.64)
15.50
9/30/21
16.74
0.63
1.18
1.81
(0.70)
—
—
(0.70)
17.85
9/30/20
17.21
0.70
(0.44)
0.26
(0.73)
—
—
(0.73)
16.74
9/30/19
16.77
0.78
0.44
1.22
(0.78)
—
—
(0.78)
17.21
9/30/18
17.73
0.77
(0.96)
(0.19)
(0.77)
—
—
(0.77)
16.77
Class
R6
8/31/23(e)
15.53
0.42
0.04
0.46
(0.44)
—
—
(0.44)
15.55
8/31/22(g)
17.89
0.71
(2.26)
(1.55)
(0.78)
—
(0.03)
(0.81)
15.53
9/30/21
16.77
0.83
1.18
2.01
(0.89)
—
—
(0.89)
17.89
9/30/20
17.25
0.89
(0.46)
0.43
(0.91)
—
—
(0.91)
16.77
9/30/19
16.79
0.95
0.46
1.41
(0.95)
—
—
(0.95)
17.25
9/30/18
17.74
0.97
(0.97)
—
(0.95)
—
—
(0.95)
16.79
Class
I
8/31/23(e)
15.50
0.41
0.04
0.45
(0.44)
—
—
(0.44)
15.51
8/31/22(g)
17.86
0.70
(2.26)
(1.56)
(0.77)
—
(0.03)
(0.80)
15.50
9/30/21
16.74
0.81
1.19
2.00
(0.88)
—
—
(0.88)
17.86
9/30/20
17.22
0.87
(0.45)
0.42
(0.90)
—
—
(0.90)
16.74
9/30/19
16.77
0.95
0.44
1.39
(0.94)
—
—
(0.94)
17.22
9/30/18
17.73
0.94
(0.95)
(0.01)
(0.95)
—
—
(0.95)
16.77
(a)
Based
on
average
shares
outstanding.
(b)
Total
return
is
the
combination
of
changes
in
NAV
without
any
sales
charge,
reinvested
dividend
income
at
NAV
and
reinvested
capital
gains
distributions
at
NAV,
if
any.
Total
returns
are
not
annualized.
(c)
The
Fund
has
a
contractual
fee
waiver/expense
reimbursement
agreement
with
the
Adviser,
but
did
not
receive
a
fee
waiver/expense
reimbursement
during
the
periods
presented
herein.
See
Notes
to
Financial
Statements
for
more
information.
(d)
Portfolio
Turnover
Rate
is
calculated
based
on
the
lesser
of
long-term
purchases
or
sales
(as
disclosed
in
Notes
to
Financial
Statements)
divided
by
the
average
long-term
market
value
during
the
period.
(e)
Unaudited. For
the
six
months
ended
February
28,
2023.
(f)
Annualized.
(g)
For
the
eleven
months
ended
August
31,
2022.
Prior
to
July
1,
2022,
the
Fund's
fiscal
year
end
was
September
30th.
See
Notes
to
Financial
Statements
Ratio/Supplemental
Data
Ratios
to
Average
Net
Assets
Total
Return(b)
Ending
Net
Assets
(000)
Expenses(c)
NII
(Loss)(c)
Portfolio
Turnover
Rate(d)
2.85
%
$
508,605
1.01
%
(f)
5.23
%
(f)
6
%
(9.07)
551,741
0.99
(f)
4.34
(f)
12
11.79
597,657
0.99
4.32
14
2.33
458,391
1.03
4.97
37
8.45
416,289
1.03
5.44
34
(0.39)
383,353
1.03
5.20
30
2.48
174,498
1.76
(f)
4.50
(f)
6
(9.72)
184,904
1.74
(f)
3.57
(f)
12
10.96
232,618
1.74
3.57
14
1.63
235,790
1.78
4.21
37
7.54
260,290
1.79
4.69
34
(1.07)
276,059
1.78
4.47
30
3.07
1,156,210
0.68
(f)
5.58
(f)
6
(8.84)
1,051,040
0.67
(f)
4.65
(f)
12
12.16
944,235
0.68
4.65
14
2.66
453,348
0.69
5.32
37
8.77
382,299
0.70
5.73
34
(0.01)
673,119
0.71
5.63
30
2.99
3,529,351
0.76
(f)
5.50
(f)
6
(8.91)
3,338,638
0.74
(f)
4.57
(f)
12
12.11
3,842,118
0.74
4.57
14
2.57
2,792,500
0.78
5.20
37
8.66
2,800,599
0.78
5.69
34
(0.09)
2,650,158
0.78
5.47
30
Financial
Highlights
(continued)
The
following
data
is
for
a
share
outstanding
for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
Beginning
NAV
Net
Investment
Income
(NII)
(Loss)(a)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Accumulated
Net
Realized
Gains
Return
of
Capital
Total
Ending
NAV
Strategic
Income
Class
A
8/31/23(e)
$
9.78
$
0.23
$
(0.16)
$
0.07
$
(0.23)
$
—
$
—
$
(0.23)
$
9.62
8/31/22(g)
9.66
0.07
0.12
0.19
(0.07)
—
—
(0.07)
9.78
6/30/22
11.23
0.35
(1.59)
(1.24)
(0.33)
—
—
(0.33)
9.66
6/30/21
10.69
0.34
0.53
0.87
(0.33)
—
—
(0.33)
11.23
6/30/20
10.60
0.36
0.12
0.48
(0.39)
—
—
(0.39)
10.69
6/30/19
10.17
0.40
0.38
0.78
(0.35)
—
—
(0.35)
10.60
6/30/18
10.65
0.36
(0.43)
(0.07)
(0.21)
—
(0.20)
(0.41)
10.17
Class
C
8/31/23(e)
9.73
0.19
(0.15)
0.04
(0.19)
—
—
(0.19)
9.58
8/31/22(g)
9.61
0.05
0.13
0.18
(0.06)
—
—
(0.06)
9.73
6/30/22
11.17
0.26
(1.57)
(1.31)
(0.25)
—
—
(0.25)
9.61
6/30/21
10.64
0.26
0.52
0.78
(0.25)
—
—
(0.25)
11.17
6/30/20
10.55
0.28
0.12
0.40
(0.31)
—
—
(0.31)
10.64
6/30/19
10.12
0.32
0.39
0.71
(0.28)
—
—
(0.28)
10.55
6/30/18
10.59
0.28
(0.42)
(0.14)
(0.13)
—
(0.20)
(0.33)
10.12
Class
R6
8/31/23(e)
9.82
0.25
(0.16)
0.09
(0.25)
—
—
(0.25)
9.66
8/31/22(g)
9.69
0.07
0.13
0.20
(0.07)
—
—
(0.07)
9.82
6/30/22
11.27
0.39
(1.60)
(1.21)
(0.37)
—
—
(0.37)
9.69
6/30/21
10.73
0.38
0.53
0.91
(0.37)
—
—
(0.37)
11.27
6/30/20
10.64
0.40
0.12
0.52
(0.43)
—
—
(0.43)
10.73
6/30/19
10.20
0.44
0.38
0.82
(0.38)
—
—
(0.38)
10.64
6/30/18
10.67
0.39
(0.42)
(0.03)
(0.24)
—
(0.20)
(0.44)
10.20
Class
I
8/31/23(e)
9.78
0.24
(0.16)
0.08
(0.24)
—
—
(0.24)
9.62
8/31/22(g)
9.66
0.07
0.12
0.19
(0.07)
—
—
(0.07)
9.78
6/30/22
11.23
0.37
(1.58)
(1.21)
(0.36)
—
—
(0.36)
9.66
6/30/21
10.69
0.37
0.53
0.90
(0.36)
—
—
(0.36)
11.23
6/30/20
10.60
0.39
0.12
0.51
(0.42)
—
—
(0.42)
10.69
6/30/19
10.17
0.42
0.39
0.81
(0.38)
—
—
(0.38)
10.60
6/30/18
10.65
0.38
(0.42)
(0.04)
(0.24)
—
(0.20)
(0.44)
10.17
(a)
Based
on
average
shares
outstanding.
(b)
Total
return
is
the
combination
of
changes
in
NAV
without
any
sales
charge,
reinvested
dividend
income
at
NAV
and
reinvested
capital
gains
distributions
at
NAV,
if
any.
Total
returns
are
not
annualized.
(c)
After
fee
waiver
and/or
expense
reimbursement
from
the
Adviser,
where
applicable. See
Notes
to
Financial
Statements
for
more
information.
(d)
Portfolio
Turnover
Rate
is
calculated
based
on
the
lesser
of
long-term
purchases
or
sales
(as
disclosed
in
Notes
to
Financial
Statements)
divided
by
the
average
long-term
market
value
during
the
period.
(e)
Unaudited. For
the
six
months
ended
February
28,
2023.
(f)
Annualized.
(g)
For
the
eleven
months
ended
August
31,
2022.
Prior
to
July
1,
2022,
the
Fund's
fiscal
year
end
was
September
30th.
See
Notes
to
Financial
Statements
Ratio/Supplemental
Data
Ratios
to
Average
Net
Assets
Total
Return(b)
Ending
Net
Assets
(000)
Gross
Expenses
Net
Expenses(c)
NII
(Loss)(c)
Portfolio
Turnover
Rate(d)
0.74
%
$
104,951
0.98
%
(f)
0.83
%
(f)
4.88
%
(f)
39
%
1.94
105,182
1.02
(f)
0.84
(f)
3.99
(f)
10
(11.26)
102,000
0.93
0.83
3.19
75
8.25
139,845
0.95
0.84
3.07
128
4.63
101,886
0.97
0.84
3.42
62
7.89
87,084
0.96
0.84
3.90
54
(0.70)
106,805
0.93
0.83
3.41
124
0.36
13,956
1.73
(f)
1.58
(f)
4.10
(f)
39
1.82
18,212
1.77
(f)
1.59
(f)
3.23
(f)
10
(11.91)
19,754
1.68
1.58
2.43
75
7.39
30,993
1.70
1.59
2.33
128
3.84
37,285
1.72
1.59
2.71
62
7.11
42,024
1.71
1.59
3.15
54
(1.40)
59,612
1.68
1.58
2.66
124
0.93
238,504
0.64
(f)
0.49
(f)
5.22
(f)
39
2.10
240,575
0.69
(f)
0.51
(f)
4.31
(f)
10
(10.97)
236,581
0.59
0.49
3.59
75
8.59
67,689
0.62
0.51
3.40
128
4.96
59,099
0.63
0.50
3.77
62
8.24
50,127
0.62
0.50
4.26
54
(0.38)
46,588
0.60
0.50
3.75
124
0.86
300,898
0.73
(f)
0.58
(f)
5.10
(f)
39
1.99
329,623
0.77
(f)
0.59
(f)
4.23
(f)
10
(11.01)
333,270
0.68
0.58
3.46
75
8.51
424,677
0.70
0.59
3.32
128
4.86
395,502
0.72
0.59
3.71
62
8.15
400,059
0.71
0.59
4.15
54
(0.47)
493,098
0.68
0.58
3.67
124
Notes
to
Financial
Statements
(Unaudited)
1.
General
Information
Trust
and
Fund
Information
The
Nuveen
Investment
Funds,
Inc.,
Nuveen
Investment
Trust
III
and
Nuveen
Investment
Trust
V
(each
a
“Trust”
and
collectively,
the
“Trusts”)
are
open-end
management
investment
companies
registered
under
the
Investment
Company
Act
of
1940
(the
“1940
Act”),
as
amended.
The
Nuveen
Investment
Funds,
Inc.
is
comprised
of
Nuveen
Credit
Income
Fund
(“Credit
Income”)
and
Nuveen
Strategic
Income
Fund
(“Strategic
Income”),
among
others,
Nuveen
Investment
Trust
III
is
comprised
of
Nuveen
Floating
Rate
Income
Fund
(“Floating
Rate
Income”)
and
Nuveen
High
Yield
Income
Fund
(“High
Yield
Income”),
among
others
and
Nuveen
Investment
Trust
V
is
comprised
of
Nuveen
Flexible
Income
Fund
(“Flexible
Income”)
and
Nuveen
Preferred
Securities
and
Income
Fund
(“Preferred
Securities
and
Income”)
among
others
(each
a
“Fund”
and
collectively
the
“Funds”),
as
diversified
funds.
Nuveen
Investment
Funds,
Inc.
was
incorporated
in
the
State
of
Maryland
on
August
20,
1987.
Nuveen
Investment
Trust
III
was
organized
as
a
Massachusetts
business
trust
on
August
20,
1998.
Nuveen
Investment
Trust
V
was
organized
as
a
Massachusetts
business
trust
on
September
27,
2006.
Current
Fiscal
Period
The
end
of
the
reporting
period
for
the
Funds
is
February
28,
2023,
and
the
period
covered
by
these
Notes
to
Financial
Statements
is
the
six
months
ended
February
28,
2023
(the
"current
fiscal
period").
Investment
Adviser
and
Sub-Advisers
The
Funds’
investment
adviser
is
Nuveen
Fund
Advisors,
LLC
(the
“Adviser”),
a
subsidiary
of
Nuveen,
LLC
(“Nuveen”).
Nuveen
is
the
investment
management
arm
of
Teachers
Insurance
and
Annuity
Association
of
America
(TIAA).
The
Adviser
has
overall
responsibility
for
management
of
the
Funds,
oversees
the
management
of
the
Funds’
portfolios,
manages
the
Funds’
business
affairs
and
provides
certain
clerical,
bookkeeping
and
other
administrative
services,
and,
if
necessary,
asset
allocation
decisions.
The
Adviser
has
entered
into
sub-advisory
agreements
with
Nuveen
Asset
Management
LLC
(“NAM”),
a
subsidiary
of
the
Adviser,
under
which
the
Sub-Adviser
manages
the
investment
portfolios
of
the
Funds.
Share
Classes
and
Sales
Charges
Class
A
Shares
are
generally
sold
with
an
up-front
sales
charge.
Class
A
Share
purchases
of
$1
million
or
more
are
sold
at
net
asset
value
(“NAV”)
without
an
up-front
sales
charge
but
may
be
subject
to
a
contingent
deferred
sales
charge
(“CDSC”)
of
1%
if
redeemed
within
eighteen
months
of
purchase.
Class
C
Shares
are
sold
without
an
up-front
sales
charge
but
are
subject
to
a
CDSC
of
1%
if
redeemed
within
twelve
months
of
purchase.
Class
C
Shares
automatically
convert
to
Class
A
Shares
eight
years
after
purchase.
Class
R6
Shares
and
Class
I
Shares
are
sold
without
an
upfront
sales
charge.
2.
Significant
Accounting
Policies
The
accompanying
financial
statements
were
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(“U.S.
GAAP”),
which
may
require
the
use
of
estimates
made
by
management
and
the
evaluation
of
subsequent
events.
Actual
results
may
differ
from
those
estimates.
Each
Fund
is
an
investment
company
and
follows
accounting
guidance
in
the
Financial
Accounting
Standards
Board
(“FASB”)
Accounting
Standards
Codification
946,
Financial
Services
—
Investment
Companies.
The
NAV
for
financial
reporting
purposes
may
differ
from
the
NAV
for
processing
security
and shareholder
transactions.
The
NAV
for
financial
reporting
purposes
includes
security
and
common
share
transactions
through
the
date
of
the
report.
Total
return
is
computed
based
on
the
NAV
used
for
processing
security
and
common
share
transactions.
The
following
is
a
summary
of
the
significant
accounting
policies
consistently
followed
by
the
Funds.
Compensation
None
of
the
Trusts
pay
compensation
directly
to
those
of
its
directors/trustees
or
to
its
officers,
all
of
whom
receive
remuneration
for
their
services
to
each
Trust
from
the
Adviser
or
its
affiliates.
The
Funds'
Board
of
Directors/Trustees
(the
"Board")
has
adopted
a
deferred
compensation
plan
for
independent
trustees
that
enables
directors/trustees
to
elect
to
defer
receipt
of
all
or
a
portion
of
the
annual
compensation
they
are
entitled
to
receive
from
certain
Nuveen-advised
funds.
Under
the
plan,
deferred
amounts
are
treated
as
though
equal
dollar
amounts
had
been
invested
in
shares
of
select
Nuveen-advised
funds.
Distributions
to
Shareholders
Distributions
to
shareholders
are
recorded
on
the
ex-dividend
date.
The
amount,
character
and
timing
of
distributions
are
determined
in
accordance
with
federal
income
tax
regulations,
which
may
differ
from
U.S.
GAAP.
Foreign
Currency
Transactions
and
Translation
The
books
and
records
of
the
Funds
are
maintained
in
U.S.
dollars.
Assets,
including
investments,
and
liabilities
denominated
in
foreign
currencies
are
translated
into
U.S.
dollars
at
the
end
of
each
day.
Purchases
and
sales
of
securities,
income
and
expenses
are
translated
into
U.S.
dollars
at
the
prevailing
exchange
rate
on
the
respective
dates
of
the
transactions.
Net
realized
foreign
currency
gains
and
losses
resulting
from
changes
in
exchange
rates
associated
with
(i)
foreign
currency,
(ii)
investments
and
(iii)
derivatives
include
foreign
currency
gains
and
losses
between
trade
date
and
settlement
date
of
the
transactions,
foreign
currency
transactions,
and
the
difference
between
the
amounts
of
interest
and
dividends
recorded
on
the
books
of
the
Funds
and
the
amounts
actually
received
are
recognized
as
a
component
of
“Net
realized
gain
(loss)
from
investments
and
foreign
currency”
on
the
Statement
of
Operations,
when
applicable.
The
unrealized
gains
and
losses
resulting
from
changes
in
foreign
currency
exchange
rates
and
changes
in
foreign
exchange
rates
associated
with
(i)
investments
and
(ii)
other
assets
and
liabilities
are
recognized
as
a
component
of
“Change
in
net
unrealized
appreciation
(depreciation)
of
investments
and
foreign
currency”
on
the
Statement
of
Operations,
when
applicable.
The
unrealized
gains
and
losses
resulting
from
changes
in
foreign
exchange
rates
associated
with
investments
in
derivatives
are
recognized
as
a
component
of
the
respective
derivative’s
related
“Change
in
net
unrealized
appreciation
(depreciation)”
on
the
Statement
of
Operations,
when
applicable.
As
of
the
end
of
the
reporting
period,
the
following
Funds'
investments
in
non-U.S.
securities
were
as
follows:
Foreign
Taxes
The
Funds
may
be
subject
to
foreign
taxes
on
income,
gains,
on
investments
or
foreign
currency
repatriation,
a
portion
of
which
may
be
recoverable.
The
Funds
will
accrue
such
taxes
and
recoveries
as
applicable,
based
upon
the
current
interpretation
of
tax
rules
and
regulations
that
exist
in
the
markets
in
which
the
Funds
invest.
Indemnifications
Under each
Trust’s
organizational
documents,
its
officers
and
trustees
are
indemnified
against
certain
liabilities
arising
out
of
the
performance
of
their
duties
to each
Trust.
In
addition,
in
the
normal
course
of
business, each
Trust
enters
into
contracts
that
provide
general
indemnifications
to
other
parties. Each
Trust’s
maximum
exposure
under
these
arrangements
is
unknown
as
this
would
involve
future
claims
that
may
be
made
against each
Trust
that
have
not
yet
occurred.
However, each
Trust
has
not
had
prior
claims
or
losses
pursuant
to
these
contracts
and
expects
the
risk
of
loss
to
be
remote.
Investments
and
Investment
Income
Securities
transactions
are
accounted
for
as
of
the
trade
date
for
financial
reporting
purposes.
Trade
date
for
senior
and
subordinated
loans
purchased
in
the
“primary
market”
is
considered
the
date
on
which
the
loan
allocations
are
determined.
Trade
date
for
senior
and
subordinated
loans
purchased
in
the
“secondary
market”
is
the
date
on
which
the
transaction
is
entered
into.
Realized
gains
and
losses
on
securities
transactions
are
based
upon
the
specific
identification
method.
Dividend
income
is
recorded
on
the
ex-dividend
date
or,
for
foreign
securities,
when
information
is
available.
Non-cash
dividends
received
in
the
form
of
stock,
if
any,
are
recognized
on
the
ex-dividend
date
and
recorded
at
fair
value.
Interest
income,
which
is
recorded
on
an
accrual
basis
and
includes
accretion
of
discounts
and
amortization
of
premiums
for
financial
reporting
purposes.
Interest
income
also
reflects
payment-in-kind
(“PIK”)
interest
and
paydown
gains
and
losses,
if
any.
PIK
interest
represents
income
received
in
the
form
of
securities
in
lieu
of
cash.
Fee
income
consists
primarily
of
amendment
fees,
when
applicable.
Amendment
fees
are
earned
as
compensation
for
evaluating
and
accepting
changes
to
an
original
senior
loan
agreement
and
are
recognized
when
received.
Securities
lending
income
is
comprised
of
fees
earned
from
borrowers
and
income
earned
on
cash
collateral
investments.
Fee
income
and
amendment
fees,
if
any,
are
recognized
as
“Fees”
on
the
Statement
of
Operations.
Multiclass
Operations
and
Allocations
Income
and
expenses
of
the
Funds that
are
not
directly
attributable
to
a
specific
class
of
shares
are
prorated
among
the
classes
based
on
the
relative
value
of
the
settled
shares
of
each
class.
Expenses
directly
attributable
to
a
class
of
shares
are
recorded
to
the
specific
class.
12b-1
distribution
and
service
fees
are
allocated
on
a
class-specific
basis.
Sub-transfer
agent
fees
and
similar
fees,
which
are
recognized
as
a
component
of
“Shareholder
servicing
agent
fees”
on
the
Statement
of
Operations,
are
not
charged
to
Class
R6
Shares
and
are
prorated
among
the
other
classes
based
on
their
relative
settled
shares.
Realized
and
unrealized
capital
gains
and
losses
of
the
Funds
are
prorated
among
the
classes
based
on
the
relative
net
assets
of
each
class.
Preferred
Securities
and
Income
Value
%
of
Net
Assets
Country:
United
Kingdom
$
635,729,078
11.8
%
Switzerland
403,852,965
7.5
France
296,262,975
5.5
Spain
137,396,773
2.6
Canada
132,046,708
2.5
Netherlands
120,788,637
2.3
Australia
109,627,743
2.0
Germany
79,297,714
1.5
Ireland
72,246,866
1.4
Other
179,833,765
3.3
Total
non-U.S.
Securities
$2,167,083,224
40.4%
Notes
to
Financial
Statements
(Unaudited)
(continued)
Netting
Agreements
In
the
ordinary
course
of
business,
the
Funds
may
enter
into
transactions
subject
to
enforceable
master
repurchase
agreements,
International
Swaps
and
Derivatives
Association,
Inc.
(ISDA)
master
agreements
or
other
similar
arrangements
(“netting
agreements”).
Generally,
the
right
to
offset
in
netting
agreements
allows
each
Fund
to
offset
certain
securities
and
derivatives
with
a
specific
counterparty,
when
applicable,
as
well
as
any
collateral
received
or
delivered
to
that
counterparty
based
on
the
terms
of
the
agreements.
Generally,
each
Fund
manages
its
cash
collateral
and
securities
collateral
on
a
counterparty
basis.
With
respect
to
certain
counterparties,
in
accordance
with
the
terms
of
the
netting
agreements,
collateral
posted
to
the
Funds
is
held
in
a
segregated
account
by
the
Funds’
custodian
and/or
with
respect
to
those
amounts
which
can
be
sold
or
repledged,
are
presented
in
the
Funds’
Portfolio
of
Investments
or
Statements
of
Assets
and
Liabilities.
The
Funds’
investments
subject
to
netting
agreements
as
of
the
end
of
the
reporting
period,
if
any,
are
further
described
in
Note
4
-
Portfolio
Securities
and
Investments
in
Derivatives.
New
Accounting
Pronouncements
and
Rule
Issuances
Reference
Rate
Reform
In
March
2020,
FASB
issued
Accounting
Standards
Update
(“ASU”)
2020-04,
Reference
Rate
Reform:
Facilitation
of
the
Effects
of
Reference
Rate
Reform
on
Financial
Reporting.
The
main
objective
of
the
new
guidance
is
to
provide
relief
to
companies
that
will
be
impacted
by
the
expected
change
in
benchmark
interest
rates,
when
participating
banks
will
no
longer
be
required
to
submit
London
Interbank
Offered
Rate
(LIBOR)
quotes
by
the
UK
Financial
Conduct
Authority
(FCA).
The
new
guidance
allows
companies
to,
provided
the
only
change
to
existing
contracts
are
a
change
to
an
approved
benchmark
interest
rate,
account
for
modifications
as
a
continuance
of
the
existing
contract
without
additional
analysis.
For
new
and
existing
contracts,
the
Funds
may
elect
to
apply
the
amendments
as
of
March
12,
2020
through
December
31,
2022.
In
December
2022,
FASB
deferred
ASU
2022-04
and
issued
ASU
2022-06,
Reference
Rate
Reform:
Deferral
of
the
Sunset
Date
of
Topic
848,
which
extends
the
application
of
the
amendments
through
December
31,
2024. Management
has
not
yet
elected
to
apply
the
amendments,
is
continuously
evaluating
the
potential
effect
a
discontinuation
of
LIBOR
could
have
on
the
Funds’
investments
and
has
currently
determined
that
it
is
unlikely
the
ASU’s
adoption
will
have
a
significant
impact
on
the
Funds’
financial
statements
and
various
filings.
New
Rules
to
Modernize
Fund
Valuation
Framework
Take
Effect
A
new
rule
adopted
by
the
Securities
and
Exchange
Commission
(the
"SEC")
governing
fund
valuation
practices,
Rule
2a-5
under
the
1940
Act,
has
established
requirements
for
determining
fair
value
in
good
faith
for
purposes
of
the
1940
Act.
Rule
2a-5
permits
fund
boards
to
designate
certain
parties
to
perform
fair
value
determinations,
subject
to
board
oversight
and
certain
other
conditions.
Rule
2a-5
also
defines
when
market
quotations
are
"readily
available"
for
purposes
of
Section
2(a)(41)
of
the
1940
Act,
which
requires
a
fund
to
fair
value
a
security
when
market
quotations
are
not
readily
available.
Separately,
new
SEC
Rule
31a-4
under
the
1940
Act
sets
forth
the
recordkeeping
requirements
associated
with
fair
value
determinations.
The
Funds
adopted
a
valuation
policy
conforming
to
the
new
rules,
effective
September
1,
2022,
and
there
was
no
material
impact
to
the
Funds.
FASB
issues
ASU
2022-03-Fair
Value
Measurement
(Topic
820),
Fair
Value
Measurement
of
Equity
Securities
Subject
to
Contractual
Sale
Restrictions
("ASU
2022-03")
In
June
2022,
the
FASB
issued
ASU
2022-03
to
clarify
the
guidance
in
Topic
820,
Fair
Value
Measurement
("Topic
820").
The
amendments
in
ASU
2022-03
affect
all
entities
that
have
investments
in
equity
securities
measured
at
fair
value
that
are
subject
to
a
contractual
sale
restriction.
ASU
2022-
03
(1)
clarifies
the
guidance
in
Topic
820,
when
measuring
the
fair
value
of
an
equity
security
subject
to
contractual
restrictions
that
prohibit
the
sale
of
equity
security,
(2)
amends
a
related
illustrative
example,
and
(3)
introduces
new
disclosure
requirements
for
equity
securities
subject
to
contractual
sale
restrictions
that
are
measured
at
fair
value
in
accordance
with
Topic
820.
For
public
business
entities,
the
amendments
in
ASU
2022-03
are
effective
for
fiscal
years
beginning
after
December
15,
2023,
and
interim
periods
within
those
fiscal
years.
For
all
other
entities,
the
amendments
are
effective
for
fiscal
years
beginning
after
December
15,
2024,
and
interim
periods
within
those
fiscal
years.
Early
adoption
is
permitted
for
both
interim
and
annual
financial
statements
that
have
not
yet
been
issued
or
made
available
for
issuance.
Management
is
currently
assessing
the
impact
of
these
provisions
on
the
Funds'
financial
statements.
3.
Investment
Valuation
and
Fair
Value
Measurements
The
Funds’
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Adviser,
subject
to
oversight
of
the Board.
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.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
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
management’s
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).
A
description
of
the
valuation
techniques
applied
to
the
Funds’
major
classifications
of
assets
and
liabilities
measured
at
fair
value
follows:
Equity
securities
and
exchange-traded
funds
listed
or
traded
on
a
national
market
or
exchange
are
valued
based
on
their
last
reported sales
price
or
official
closing
price of such
market
or
exchange
on
the
valuation
date.
Foreign
equity
securities
and
registered
investment
companies
that
trade
on
a
foreign
exchange
are
valued
at
the
last
reported sales
price
or
official
closing
price
on
the
principal
exchange
where
traded,
and
converted
to
U.S.
dollars
at
the
prevailing
rates
of
exchange
on
the valuation
date.
For
events affecting
the value
of
foreign
securities
between
the
time
when
the
exchange
on
which
they
are
traded
closes
and
the
time
when
the
Funds'
net
assets
are
calculated,
such
securities
will
be
valued
at
fair
value
in
accordance
with
procedures
adopted
by
the
Adviser,
subject
to
the
oversight
of
the
Board. To
the
extent
these
securities
are
actively
traded
and
no
valuation
adjustments
are
applied,
they
are
generally
classified
as
Level
1. When
valuation
adjustments
are
applied
to
the
most
recent
last
sales
price
or
official
closing
price, these
securities
are
generally
classified
as
Level
2.
Prices
of
certain
American
Depositary
Receipts
(“ADR”)
held
by
the
Fund
that
trade
in
the
United
States
are
valued
based
on
the
last
traded
price,
official
closing
price,
or
an
evaluated
price
provided
by
the
pricing
services and
are
generally
classified
as
Level
1
or
2.
Prices
of
fixed-income
securities
are
generally
provided
by
pricing
services
approved
by
the
Adviser,
which
is
subject
to
review
by
the
Adviser
and
oversight
of
the
Board. Pricing
services
establish
a
security’s
fair
value
using
methods
that
may
include
consideration
of
the
following:
yields
or
prices
of
investments
of
comparable
quality,
type
of
issue,
coupon,
maturity
and
rating,
market
quotes
or
indications
of
value
from
security
dealers,
evaluations
of
anticipated
cash
flows
or
collateral,
general
market
conditions
and
other
information
and
analysis,
including
the
obligor’s
credit
characteristics
considered
relevant.
In
pricing
certain
securities,
particularly
less
liquid
and
lower
quality
securities,
pricing
services
may
consider
information
about
a
security,
its
issuer
or
market
activity
provided
by
the
Adviser.
These
securities
are
generally
classified
as
Level
2.
Repurchase
agreements
are
valued
at
contract
amount
plus
accrued
interest,
which
approximates
market
value.
These
securities
are
generally
classified
as
Level
2.
Investments
in
investment
companies
are
valued
at
their
respective
NAVs
or
share
price on
the
valuation
date
and
are
generally
classified
as
Level
1.
Futures
contracts
are
valued
using
the
closing
settlement
price
or,
in
the
absence
of
such
a
price,
the
last
traded
price
and
are
generally
classified
as
Level
1.
Swap
contracts
are
marked-to-market
daily
based
upon
a
price
supplied
by
a
pricing
service.
Swaps
are
generally
classified
as
Level
2.
For
any
portfolio
security
or
derivative
for
which
market
quotations
are
not
readily
available
or
for
which
the
Adviser
deems
the
valuations
derived
using
the
valuation
procedures
described
above
not
to
reflect
fair
value,
the
Adviser
will
determine
a
fair
value
in
good
faith
using
alternative
procedures
approved
by
the
Adviser,
subject
to
the
oversight
of
the
Board.
As
a
general
principle,
the
fair
value
of
a
security
is
the
amount
that
the
owner
might
reasonably
expect
to
receive
for
it
in
a
current
sale.
A
variety
of
factors
may
be
considered
in
determining
the
fair
value
of
such
securities,
which
may
include
consideration
of
the
following:
yields
or
prices
of
investments
of
comparable
quality,
type
of
issue,
coupon,
maturity
and
rating,
market
quotes
or
indications
of
value
from
security
dealers,
evaluations
of
anticipated
cash
flows
or
collateral,
general
market
conditions
and
other
information
and
analysis,
including
the
obligor’s
credit
characteristics
considered
relevant.
To
the
extent
the
inputs
are
observable
and
timely,
the
values
would
be
classified
as
Level
2;
otherwise
they
would
be
classified
as
Level
3.
The
following
table
summarizes
the
market
value
of
the
Funds’
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Credit
Income
Level
1
Level
2
Level
3
Total
Long-Term
Investments*:
Corporate
Bonds
$
–
$
49,269,322
$
–**
$
49,269,322
Asset-Backed
and
Mortgage-Backed
Securities
–
18,045,604
–
18,045,604
Variable
Rate
Senior
Loan
Interests
–
8,340,049
–
8,340,049
$1,000
Par
(or
similar)
Institutional
Preferred
–
2,454,898
–
2,454,898
Sovereign
Debt
–
1,798,482
–
1,798,482
Contingent
Capital
Securities
–
993,506
–
993,506
$25
Par
(or
similar)
Retail
Preferred
473,076
–
–
473,076
Common
Stocks
–
–
1,914***
1,914
Investments
Purchased
with
Collateral
from
Securities
Lending
4,600,887
–
–
4,600,887
Total
$
5,073,963
$
80,901,861
$
1,914
$
85,977,738
1
Notes
to
Financial
Statements
(Unaudited)
(continued)
Flexible
Income
Level
1
Level
2
Level
3
Total
Long-Term
Investments*:
Corporate
Bonds
$
–
$
612,681,832
$
–
$
612,681,832
$1,000
Par
(or
similar)
Institutional
Preferred
–
337,436,959
–
337,436,959
Common
Stocks
205,859,770
–
–
205,859,770
$25
Par
(or
similar)
Retail
Preferred
73,080,733
–
–
73,080,733
Convertible
Preferred
Securities
28,388,934
–
–
28,388,934
Structured
Notes
–
16,050,017
–
16,050,017
Convertible
Bonds
–
7,516,125
–
7,516,125
Investments
Purchased
with
Collateral
from
Securities
Lending
42,551,356
–
–
42,551,356
Short-Term
Investments:
Repurchase
Agreements
–
32,631,972
–
32,631,972
Total
$
349,880,793
$
1,006,316,905
$
–
$
1,356,197,698
1
Floating
Rate
Income
Level
1
Level
2
Level
3
Total
Long-Term
Investments*:
Variable
Rate
Senior
Loan
Interests
$
–
$
1,652,197,635
$
–
$
1,652,197,635
Corporate
Bonds
–
292,049,642
3,820,702***
295,870,344
Common
Stocks
1,380,181
22,926,406
902,058***
25,208,645
Exchange-Traded
Funds
16,270,891
–
–
16,270,891
Warrants
5,475
8,450,337
–
8,455,812
Convertible
Preferred
Securities
–
238,064
–
238,064
Investments
Purchased
with
Collateral
from
Securities
Lending
9,897,813
–
–
9,897,813
Short-Term
Investments:
Investment
Companies
1,721,278
–
–
1,721,278
Total
$
29,275,638
$
1,975,862,084
$
4,722,760
$
2,009,860,482
1
High
Yield
Income
Level
1
Level
2
Level
3
Total
Long-Term
Investments*:
Corporate
Bonds
$
–
$
385,026,320
$
–
$
385,026,320
Variable
Rate
Senior
Loan
Interests
–
54,406,435
–
54,406,435
Exchange-Traded
Funds
19,796,807
–
–
19,796,807
$1,000
Par
(or
similar)
Institutional
Preferred
–
9,886,256
–
9,886,256
Common
Stocks
–
2,977,600
8,499***
2,986,099
Warrants
–
2,328,742
–
2,328,742
Investments
Purchased
with
Collateral
from
Securities
Lending
15,346,961
–
–
15,346,961
Short-Term
Investments:
Investment
Companies
18,115,055
–
–
18,115,055
Total
$
53,258,823
$
454,625,353
$
8,499
$
507,892,675
1
Preferred
Securities
and
Income
Level
1
Level
2
Level
3
Total
Long-Term
Investments*:
$1,000
Par
(or
similar)
Institutional
Preferred
$
32,581,755
$
2,617,335,775
$
–
$
2,649,917,530
Contingent
Capital
Securities
–
1,700,123,363
–
1,700,123,363
$25
Par
(or
similar)
Retail
Preferred
837,372,859
71,507,459
–
908,880,318
Investments
Purchased
with
Collateral
from
Securities
Lending
117,883,151
–
–
117,883,151
Short-Term
Investments:
Repurchase
Agreements
–
27,440,640
–
27,440,640
Investments
in
Derivatives:
Futures
Contracts****
(127,181)
–
–
(127,181)
Total
$
987,710,584
$
4,416,407,237
$
–
$
5,404,117,821
1
4.
Portfolio
Securities
and
Investments
in
Derivatives
Portfolio
Securities
Unfunded Commitments
Pursuant
to
the
terms
of
certain
of
the
variable
rate
senior
loan
agreements,
the
Funds
may
have
unfunded
senior
loan
commitments.
Each
Fund
will
maintain
with
its
custodian,
cash,
liquid
securities
and/or
liquid
senior
loans
having
an
aggregate
value
at
least
equal
to
the
amount
of
unfunded
senior
loan
commitments.
As
of
the
end
of
the
reporting
period,
the
Funds’
outstanding
unfunded
senior
loan
commitments
were
as
follows:
Participation
Commitments
With
respect
to
the
senior
loans
held
in
each
Fund’s
portfolio,
the
Funds
may:
1)
invest
in
assignments;
2)
act
as
a
participant
in
primary
lending
syndicates;
or
3)
invest
in
participations.
If
a
Fund
purchases
a
participation
of
a
senior
loan
interest,
the
Fund
would
typically
enter
into
a
contractual
agreement
with
the
lender
or
other
third
party
selling
the
participation,
rather
than
directly
with
the
borrower.
As
such,
the
Fund
not
only
assumes
the
credit
risk
of
the
borrower,
but
also
that
of
the
selling
participant
or
other
persons
interpositioned
between
the
Fund
and
the
borrower.
As
of
the
end
of
the
reporting
period,
the
Funds
had
no
such
outstanding
participation
commitments.
Securities
Lending
Each
Fund
may
lend
securities
representing
up
to
one-third
of
the
value
of
its
total
assets
to
broker-dealers,
banks,
and
other
institutions
in
order
to
generate
additional
income.
When
loaning
securities, a
Fund
retains
the
benefits
of
owning
the
securities,
including
the
economic
equivalent
of
dividends
or
interest
generated
by
the
security.
The
loans
are
continuous,
can
be
recalled
at
any
time,
and
have
no
set
maturity.
The
Funds’
custodian,
State
Street
Bank
and
Trust
Company,
serves
as
the
securities
lending
agent
(the
“Agent”).
When
a
Fund
loans
its
portfolio
securities,
it
will
receive,
at
the
inception
of
each
loan,
cash
collateral
equal
to
an
amount
not
less
than
100%
of
the
market
value
of
the
loaned
securities.
The
actual
percentage
of
the
cash
collateral
will
vary
depending
upon
the
asset
type
of
the
loaned
securities.
Collateral
for
the
loaned
securities
is
invested
in
a
government
money
market
vehicle
maintained
by
the
Agent,
which
is
subject
to
the
requirements
Strategic
Income
Level
1
Level
2
Level
3
Total
Long-Term
Investments*:
Asset-Backed
and
Mortgage-Backed
Securities
$
–
$
307,948,798
$
–
$
307,948,798
Corporate
Bonds
–
182,315,227
–**
182,315,227
$1,000
Par
(or
similar)
Institutional
Preferred
–
55,201,778
–
55,201,778
Sovereign
Debt
–
47,872,235
–
47,872,235
Variable
Rate
Senior
Loan
Interests
–
21,059,657
–
21,059,657
Contingent
Capital
Securities
–
19,061,412
–
19,061,412
$25
Par
(or
similar)
Retail
Preferred
1,227,336
1,474,600
–
2,701,936
Investments
Purchased
with
Collateral
from
Securities
Lending
10,719,249
–
–
10,719,249
Short-Term
Investments:
Repurchase
Agreements
–
20,969,919
–
20,969,919
Investments
in
Derivatives:
Futures
Contracts****
(459,348)
–
–
(459,348)
Credit
Default
Swaps****
–
90,468
–
90,468
Total
$
11,487,237
$
655,994,094
$
–
$
667,481,331
1
*
Refer
to
the
Fund's
Portfolio
of
Investments
for
industry
classifications.
**
Refer
to
the
Fund’s
Portfolio
of
Investments
for
securities
classified
as
Level
3.
Value
equals
zero
as
of
the
end
of
the
reporting
period.
***
Refer
to
the
Fund's
Portfolio
of
Investments
for
securities
classified
as
Level
3.
****
Represents
net
unrealized
appreciation
(depreciation)
as
reported
in
the
Fund's
Portfolio
of
Investments.
Fund
Outstanding
Unfunded
Senior
Loan
Commitments
Credit
Income
$
—
Flexible
Income
—
Floating
Rate
Income
1,462,052
High
Yield
Income
—
Preferred
Securities
and
Income
—
Strategic
Income
—
Notes
to
Financial
Statements
(Unaudited)
(continued)
of
Rule
2a-7
under
the
1940
Act.
The
value
of
the
loaned
securities
and
the
liability
to
return
the
cash
collateral
received
are
recognized
on
the
Statement
of
Assets
and
Liabilities.
If
the
market
value
of
the
loaned
securities
increases,
the
borrower
must
furnish
additional
collateral
to
the
Fund,
which
is
also
recognized
on
the
Statement
of
Assets
and
Liabilities.
Securities
out
on
loan
are
subject
to
termination
at
any
time
at
the
option
of
the
borrower
or
the
Fund.
Upon
termination,
the
borrower
is
required
to
return
to
the
Fund
securities
identical
to
the
securities
loaned.
During
the
term
of
the
loan,
the
Fund
bears
the
market
risk
with
respect
to
the
investment
of
collateral
and
the
risk
that
the
Agent
may
default
on
its
contractual
obligations
to
the
Fund.
The
Agent
bears
the
risk
that
the
borrower
may
default
on
its
obligation
to
return
the
loaned
securities
as
the
Agent
is
contractually
obligated
to
indemnify
the
Fund
if
at
the
time
of
a
default
by
a
borrower
some
or
all
of
the
loan
securities
have
not
been
returned.
Securities
lending
income
recognized
by
a
Fund
consists
of
earnings
on
invested
collateral
and
lending
fees,
net
of
any
rebates
to
the
borrower
and
compensation
to
the
Agent.
Such
income
is
recognized
on
the
Statement
of
Operations.
As
of
the
end
of
the
current
reporting
period,
the
total
value
of
the
loaned
securities
and
the
total
value
of
collateral
received
were
as
follows:
Repurchase
Agreements
In
connection
with
transactions
in
repurchase
agreements,
it
is
each
Fund's
policy
that
its
custodian
take
possession
of
the
underlying
collateral
securities,
the
fair
value
of
which
exceeds
the
principal
amount
of
the
repurchase
transaction,
including
accrued
interest,
at
all
times.
If
the
counterparty
defaults,
and
the
fair
value
of
the
collateral
declines,
realization
of
the
collateral
may
be
delayed
or
limited.
The
following
table
presents
the
repurchase
agreements
for
the
Funds
that
are
subject
to
netting
agreements
as
of
the
end
of
the
reporting
period,
and
the
collateral
delivered
related
to
those
repurchase
agreements.
Zero
Coupon
Securities
A
zero
coupon
security
does
not
pay
a
regular
interest
coupon
to
its
holders
during
the
life
of
the
security.
Income
to
the
holder
of
the
security
comes
from
accretion
of
the
difference
between
the
original
purchase
price
of
the
security
at
issuance
and
the
par
value
of
the
security
at
maturity
and
is
effectively
paid
at
maturity.
The
market
prices
of
zero
coupon
securities
generally
are
more
volatile
than
the
market
prices
of
securities
that
pay
interest
periodically.
Investment
Transactions
Long-term
purchases
and
sales
(including
maturities
but
excluding
derivative
transactions
and
investments
purchased
with
collateral
from
securities
lending,
where
applicable)
during
the
current fiscal
period
were
as
follows:
Fund
Asset
Class
out
on
Loan
Long-Term
Investments,
at
Value
Total
Collateral
Received
Credit
Income
Corporate
Bonds
$4,243,527
$4,406,387
Contingent
Capital
Securities
181,274
194,500
Total
$4,424,801
$4,600,887
Flexible
Income
$1,000
Par
(or
similar)
Institutional
Preferred
$29,486,191
$30,248,403
Corporate
Bonds
11,683,270
12,302,953
Total
$41,169,461
$42,551,356
Floating
Rate
Income
Corporate
Bonds
$5,295,520
$5,493,068
Exchange-Traded
Funds
4,189,979
4,299,979
Common
Stocks
93,391
104,766
Total
$9,578,890
$9,897,813
High
Yield
Income
Corporate
Bonds
$14,787,121
$15,346,961
Preferred
Securities
and
Income
$1,000
Par
(or
similar)
Institutional
Preferred
$84,043,524
$87,583,690
Contingent
Capital
Securities
25,690,171
26,538,540
$25
Par
(or
similar)
Retail
Preferred
3,664,420
3,760,921
Total
$113,398,115
$117,883,151
Strategic
Income
Corporate
Bonds
$
7,082,576
$7,332,353
$1,000
Par
(or
similar)
Institutional
Preferred
2,013,267
2,080,683
Sovereign
Debt
1,266,746
1,306,213
Total
$10,362,589
$10,719,249
Fund
Counterparty
Short-term
Investments,
at
Value
Collateral
Pledged
(From)
Counterparty
Flexible
Income
Fixed
Income
Clearing
Corporation
$32,631,972
$(33,284,668)
Preferred
Securities
and
Income
Fixed
Income
Clearing
Corporation
27,440,640
(27,989,509)
Strategic
Income
Fixed
Income
Clearing
Corporation
20,969,919
(21,389,376)
The
Funds
may
purchase
securities
on
a
when-issued
or
delayed-delivery
basis.
Securities
purchased
on
a
when-issued
or
delayed-delivery
basis
may
have
extended
settlement
periods;
interest
income
is
not
accrued
until
settlement
date.
Any
securities
so
purchased
are
subject
to
market
fluctuation
during
this
period.
The
Funds
have
earmarked
securities
in
their
portfolios
with
a
current
value
at
least
equal
to
the
amount
of
the
when-issued/
delayed
delivery
purchase
commitments.
If
a
Fund
has
outstanding
when-issued/delayed-delivery
purchases
commitments
as
of
the
end
of
the
reporting
period,
such
amounts
are
recognized
on
the
Statement
of
Assets
and
Liabilities.
Investments
in
Derivatives
Each
Fund
is
authorized
to
invest
in
certain
derivative
instruments.
The
Funds
record
derivative
instruments
at
fair
value,
with
changes
in
fair
value
recognized
on
the
Statement
of
Operations,
when
applicable.
Even
though
the
Funds’
investments
in
derivatives
may
represent
economic
hedges,
they
are
not
considered
to
be
hedge
transactions
for
financial
reporting
purposes.
Credit
Default
Swap
Contracts
A
Fund
may
enter
into
a
credit
default
swap
contract
to
seek
to
maintain
a
total
return
on
a
particular
investment
or
portion
of
its
portfolio,
or
to
take
an
active
long
or
short
position
with
respect
to
the
likelihood
of
a
particular
issuer’s
default.
Credit
default
swap
contracts
involve
one
party
making
a
stream
of
payments
to
another
party
in
exchange
for
the
right
to
receive
a
specified
return
if/when
there
is
a
credit
event
by
a
third
party.
Generally,
a
credit
event
means
bankruptcy,
failure
to
pay,
or
restructuring.
The
specific
credit
events
applicable
for
each
credit
default
swap
are
stated
in
the
terms
of
the
particular
swap
agreement.
When
a
Fund
has
bought
(sold)
protection
in
a
credit
default
swap
upon
occurrence
of
a
specific
credit
event
with
respect
to
the
underlying
referenced
entity,
the
Fund
will
either
(i)
deliver
(receive)
that
security,
or
an
equivalent
amount
of
cash,
from
the
counterparty
in
exchange
for
receipt
(payment)
of
the
notional
amount
to
the
counterparty,
or
(ii)
receive
(pay)
a
net
settlement
amount
of
the
credit
default
swap
contract
less
the
recovery
value
of
the
referenced
obligation
or
underlying
securities
comprising
the
referenced
index.
The
difference
between
the
value
of
the
security
received
(delivered)
and
the
notional
amount
delivered
(received)
is
recorded
as
a
realized
gain
or
loss.
Payments
paid
(received)
at
the
beginning
of
the
measurement
period
are
recognized
as
a
component
of
“Credit
default
swaps
premiums
paid
and/
or
received”
on
the
Statement
of
Assets
and
Liabilities,
when
applicable.
Credit
default
swap
contracts
are
valued
daily.
Changes
in
the
value
of
a
credit
default
swap
during
the
fiscal
period
are
recognized
as
a
component
of
“Change
in
net
unrealized
appreciation
(depreciation)
of
swaps”
and
realized
gains
and
losses
are
recognized
as
a
component
of
“Net
realized
gain
(loss)
from
swaps”
on
the
Statement
of
Operations.
For
OTC
swaps
not
cleared
through
a
clearing
house
(“OTC
Uncleared”),
the
daily
change
in
the
market
value
of
the
swap
contract,
along
with
any
daily
interest
fees
accrued,
are
recognized
as
components
of
“Unrealized
appreciation
or
depreciation
on
credit
default
swaps”
on
the
Statement
of
Assets
and
Liabilities.
Upon
the
execution
of
an
OTC
swap
cleared
through
a
clearing
house
(“OTC
Cleared”),
a
Fund
is
obligated
to
deposit
cash
or
eligible
securities,
also
known
as
“initial
margin,”
into
an
account
at
its
clearing
broker
equal
to
a
specified
percentage
of
the
contract
amount.
Cash
held
by
the
broker
to
cover
initial
margin
requirements
on
open
swap
contracts,
if
any,
is
recognized
as
“Cash
collateral
at
brokers
for
investments
in
swaps”
on
the
Statement
of
Assets
and
Liabilities.
Investments
in
OTC
Cleared
swaps
obligate
a
Fund
and
the
clearing
broker
to
settle
monies
on
a
daily
basis
representing
changes
in
the
prior
day’s
“mark-to-market”
of
the
swap.
If
a
Fund
has
unrealized
appreciation
the
clearing
broker
would
credit
the
Fund’s
account
with
an
amount
equal
to
the
appreciation
and
conversely
if
a
Fund
has
unrealized
depreciation
the
clearing
broker
would
debit
a
Fund’s
account
with
an
amount
equal
to
the
depreciation.
These
daily
cash
settlements
are
also
known
as
“variation
margin.”
Variation
margin
for
OTC
Cleared
swaps
is
recognized
as
a
receivable
and/or
payable
for
“Variation
margin
on
swap
contracts”
on
the
Statement
of
Assets
and
Liabilities.
Upon
the
execution
of
an
OTC
Uncleared
swap,
neither
the
Fund
nor
the
counterparty
is
required
to
deposit
initial
margin
as
the
trades
are
recorded
bilaterally
between
both
parties
to
the
swap
contract,
and
the
terms
of
the
variation
margin
are
subject
to
a
predetermined
threshold
negotiated
by
the
Fund
and
the
counterparty.
Variation
margin
for
OTC
Uncleared
swaps
is
recognized
as
a
component
of
“Unrealized
appreciation
or
depreciation
on
credit
default
swaps”
as
described
in
the
preceding
paragraph.
The
maximum
potential
amount
of
future
payments
the
Fund
could
incur
as
a
buyer
or
seller
of
protection
in
a
credit
default
swap
contract
is
limited
to
the
notional
amount
of
the
contract.
The
maximum
potential
amount
would
be
offset
by
the
recovery
value,
if
any,
of
the
respective
referenced
entity.
During
the
current
fiscal
period,
Credit
Income
used
credit
default
index
swap
contracts
to
gain
broad
exposure
to
the
high
yield
bond
market.
Strategic
Income
used
credit
default
swap
index
contracts
to
reduce
the
credit
risk
of
its
high
yield
bond
allocation.
The
average
notional
amount
of
credit
default
swap
contracts
outstanding
during
the
current
fiscal
period
was
as
follows:
Fund
Purchases
Sales
and
Maturities
Credit
Income
$
44,113,129
$
70,315,655
Flexible
Income
185,053,646
307,528,605
Floating
Rate
Income
282,751,598
627,330,534
High
Yield
Income
427,815,169
445,787,041
Preferred
Securities
and
Income
492,389,567
282,832,278
Strategic
Income
244,746,970
256,437,763
Notes
to
Financial
Statements
(Unaudited)
(continued)
The
following
table
presents
the
fair
value
of
all
swap
contracts
held
by
the
Funds
as
of
the
end
of
the
reporting
period,
the
location
of
these
instruments
on
the
Statement
of
Assets
and
Liabilities
and
the
primary
underlying
risk
exposure.
The
following
table
presents
the
Funds’
swap
contracts
subject
to
netting
agreements
and
the
collateral
delivered
related
to
those
swap
contracts
as
of
the
end
of
the
reporting
period.
The
following
table
presents
the
amount
of
net
realized
gain
(loss)
and
change
in
net
unrealized
appreciation
(depreciation)
recognized
on
swap
contracts
on
the
Statement
of
Operations
during
the
current
fiscal
period,
and
the
primary
underlying
risk
exposure.
Futures
Contracts
Upon
execution
of
a
futures
contract,
a
Fund
is
obligated
to
deposit
cash
or
eligible
securities,
also
known
as
“initial
margin,”
into
an
account
at
its
clearing
broker
equal
to
a
specified
percentage
of
the
contract
amount.
Cash
held
by
the
broker
to
cover
initial
margin
requirements
on
open
futures
contracts,
if
any,
is
recognized
as
“Cash
collateral
at
brokers
for
investments
in
futures
contracts”
on
the
Statement
of
Assets
and
Liabilities.
Investments
in
futures
contracts
obligate
a
Fund
and
the
clearing
broker
to
settle
monies
on
a
daily
basis
representing
changes
in
the
prior
days
“mark-to-market”
of
the
open
contracts.
If
a
Fund
has
unrealized
appreciation
the
clearing
broker
would
credit
the
Fund’s
account
with
an
amount
equal
to
appreciation
and
conversely
if
a
Fund
has
unrealized
depreciation
the
clearing
broker
would
debit
the
Fund’s
account
with
an
amount
equal
to
depreciation.
These
daily
cash
settlements
are
also
known
as
“variation
margin.”
Variation
margin
is
recognized
as
a
receivable
and/or
payable
for
“Variation
margin
on
futures
contracts”
on
the
Statement
of
Assets
and
Liabilities.
During
the
period
the
futures
contract
is
open,
changes
in
the
value
of
the
contract
are
recognized
as
an
unrealized
gain
or
loss
by
“marking-to-
market”
on
a
daily
basis
to
reflect
the
changes
in
market
value
of
the
contract,
which
is
recognized
as
a
component
of
“Change
in
net
unrealized
appreciation
(depreciation)
of
futures
contracts”
on
the
Statement
of
Operations.
When
the
contract
is
closed
or
expired,
a
Fund
records
a
realized
gain
or
loss
equal
to
the
difference
between
the
value
of
the
contract
on
the
closing
date
and
value
of
the
contract
when
originally
entered
into,
which
is
recognized
as
a
component
of
“Net
realized
gain
(loss)
from
futures
contracts”
on
the
Statement
of
Operations.
Risks
of
investments
in
futures
contracts
include
the
possible
adverse
movement
in
the
price
of
the
securities
or
indices
underlying
the
contracts,
the
possibility
that
there
may
not
be
a
liquid
secondary
market
for
the
contracts
and/or
that
a
change
in
the
value
of
the
contract
may
not
correlate
with
a
change
in
the
value
of
the
underlying
securities
or
indices.
During
the
current
fiscal
period,
Preferred
Securities
and
Income
and
Strategic
Income
used
U.S.
Treasury
futures
as
part
of
their
overall
portfolio
construction
strategy
to
manage
portfolio
duration
and
yield
curve
exposure.
Fund
Average
Notional
Amount
of
Credit
Default
Swaps
Outstanding*
Credit
Income
$
1,650,000
Strategic
Income
$
2,166,667
*
The
average
notional
amount
is
calculated
based
on
the
absolute
aggregate
notional
amount
of
contracts
outstanding
at
the
beginning
of
the
current
fiscal
period
and
at
the
end
of
each
fiscal
quarter
within
the
current
fiscal
period.
Location
on
the
Statement
of
Assets
and
Liabilities
Underlying
Derivative
Asset
Derivatives
(Liability)
Derivatives
Risk
Exposure
Instrument
Location
Value
Location
Value
Strategic
Income
Credit
Swaps
(OTC
Uncleared)
Unrealized
appreciation
on
credit
default
swaps**
$90,468
-
$-
**
Some
swap
contracts
require
a
counterparty
to
pay
or
receive
a
premium,
which
is
disclosed
on
the
Statement
of
Assets
and
Liabilities
and
is
not
reflected
in
the
cumulative
unrealized
appreciation
(depreciation)
presented
above.
Fund
Counterparty
Gross
Unrealized
Appreciation
Credit
Default
Swaps***
Gross
Unrealized
(Depreciation)
Credit
Default
Swaps***
Net
Unrealized
Appreciation
(Depreciation)
on
Credit
Default
Swaps
Credit
Default
Swaps
Premium
Paid
(Received)
Collateral
Pledged
to
(from)
Counterparty
Net
Exposure
Strategic
Income
Morgan
Stanley
Capital
Services
LLC
$90,468
$-
$90,468
$(249,561)
$371,700
$212,607
*** Represents
gross
unrealized
appreciation
(depreciation)
for
the
counterparty
as
reported
in
the
Fund's
Portfolio
of
Investments.
Fund
Underlying
Risk
Exposure
Derivative
Instrument
Net
Realized
Gain
(Loss)
from
Swaps
Change
in
Net
Unrealized
Appreciation
(Depreciation)
of
Swaps
Credit
Income
Credit
Swaps
$(23,932)
$79,080
Strategic
Income
Credit
Swaps
$40,283
$
90,468
The
average
notional
amount
of
futures
contracts
outstanding
during
the
current
fiscal
period
was
as
follows:
The
following
table
presents
the
fair
value
of
all
futures
contracts
held
by
the
Funds
as
of
the
end
of
the
reporting
period,
the
location
of
these
instruments
on
the
Statement
of
Assets
and
Liabilities
and
the
primary
underlying
risk
exposure.
The
following
table
presents
the
amount
of
net
realized
gain
(loss)
and
change
in
net
unrealized
appreciation
(depreciation)
recognized
on
futures
contracts
on
the
Statement
of
Operations
during
the
current
fiscal
period,
and
the
primary
underlying
risk
exposure.
Market
and
Counterparty
Credit
Risk
In
the
normal
course
of
business
each
Fund
may
invest
in
financial
instruments
and
enter
into
financial
transactions
where
risk
of
potential
loss
exists
due
to
changes
in
the
market
(market
risk)
or
failure
of
the
other
party
to
the
transaction
to
perform
(counterparty
credit
risk).
The
potential
loss
could
exceed
the
value
of
the
financial
assets
recorded
on
the
financial
statements.
Financial
assets,
which
potentially
expose
each
Fund
to
counterparty
credit
risk,
consist
principally
of
cash
due
from
counterparties
on
forward,
option
and
swap
transactions,
when
applicable.
The
extent
of
each
Fund’s
exposure
to
counterparty
credit
risk
in
respect
to
these
financial
assets
approximates
their
carrying
value
as
recorded
on
the
Statement
of
Assets
and
Liabilities.
Each
Fund
helps
manage
counterparty
credit
risk
by
entering
into
agreements
only
with
counterparties
the
Adviser
believes
have
the
financial
resources
to
honor
their
obligations
and
by
having
the
Adviser
monitor
the
financial
stability
of
the
counterparties.
Additionally,
counterparties
may
be
required
to
pledge
collateral
daily
(based
on
the
daily
valuation
of
the
financial
asset)
on
behalf
of
each
Fund
with
a
value
approximately
equal
to
the
amount
of
any
unrealized
gain
above
a
pre-determined
threshold.
Reciprocally,
when
each
Fund
has
an
unrealized
loss,
the
Funds
have
instructed
the
custodian
to
pledge
assets
of
the
Funds
as
collateral
with
a
value
approximately
equal
to
the
amount
of
the
unrealized
loss
above
a
pre-determined
threshold.
Collateral
pledges
are
monitored
and
subsequently
adjusted
if
and
when
the
valuations
fluctuate,
either
up
or
down,
by
at
least
the
predetermined
threshold
amount.
Fund
Average
Notional
Amount
of
Futures
Contracts
Outstanding*
Preferred
Securities
and
Income
$139,445,010
Strategic
Income
$124,465,241
*
The
average
notional
amount
is
calculated
based
on
the
absolute
aggregate
notional
amount
of
contracts
outstanding
at
the
beginning
of
the
current
fiscal
period
and
at
the
end
of
each
fiscal
quarter
within
the
current
fiscal
period.
Location
on
the
Statement
of
Assets
and
Liabilities
Underlying
Derivative
Asset
Derivatives
(Liability)
Derivatives
Risk
Exposure
Instrument
Location
Value
Location
Value
Preferred
Securities
and
Income
Interest
rate
Futures
contracts
Receivable
for
variation
margin
on
futures
contracts**
$(127,181)
-
$-
Strategic
Income
Interest
rate
Futures
contracts
Receivable
for
variation
margin
on
futures
contracts**
$199,695
Payable
for
variation
margin
on
futures
contracts**
$(659,043)
**
Value
represents
the
cumulative
unrealized
appreciation
(depreciation)
of
futures
contracts
as
reported
in
the
Fund’s
Portfolio
of
Investments
and
not
the
asset
and/or
liability
derivatives
location
as
described
in
the
table
above.
Fund
Underlying
Risk
Exposure
Derivative
Instrument
Net
Realized
Gain
(Loss)
from
Futures
Contracts
Change
in
Net
Unrealized
Appreciation
(Depreciation)
of
Futures
Contracts
Preferred
Securities
and
Income
Interest
rate
Future
contracts
$1,655,118
$(127,181)
Strategic
Income
Interest
rate
Future
contracts
$189,935
$(1,360,407)
Notes
to
Financial
Statements
(Unaudited)
(continued)
5.
Fund
Shares
Transactions
in Fund
shares
during
the
current
and
prior
fiscal
period
were
as
follows:
Six
Months
Ended
2/28/23
Two
Months
Ended
8/31/22
Year
Ended
6/30/22
Credit
Income
Shares
Amount
Shares
Amount
Shares
Amount
Shares
sold:
Class
A
541,212
$3,338,758
60,356
$385,630
1,318,841
$9,494,449
Class
A
-
automatic
conversion
of
Class
C
Shares
5,037
32,265
198
1,368
181
1,298
Class
C
39,387
246,443
44,595
286,664
108,118
767,238
Class
I
1,350,986
8,593,804
5,580,492
36,045,244
8,821,750
64,215,598
Shares
issued
to
shareholders
due
to
reinvestment
of
distributions:
Class
A
222,801
1,385,723
67,327
431,100
382,466
2,700,475
Class
C
34,984
217,211
10,584
67,651
67,514
477,445
Class
I
122,242
762,446
59,662
381,752
350,312
2,516,058
2,316,649
14,576,650
5,823,214
37,599,409
11,049,182
80,172,561
Shares
redeemed:
Class
A
(1,147,764)
(7,118,862)
(213,920)
(1,369,798)
(3,950,941)
(28,481,462)
Class
C
(239,324)
(1,492,724)
(80,232)
(513,994)
(781,245)
(5,508,093)
Class
C
-
automatic
conversion
to
Class
A
Shares
(5,044)
(32,265)
(199)
(1,368)
(181)
(1,298)
Class
I
(7,102,134)
(44,904,126)
(195,615)
(1,252,865)
(17,717,847)
(128,315,850)
(8,494,266)
(53,547,977)
(489,966)
(3,138,025)
(22,450,214)
(162,306,703)
Net
increase
(decrease)
(6,177,617)
$(38,971,327)
5,333,248
$34,461,384
(11,401,032)
$(82,134,142)
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
Flexible
Income
Shares
Amount
Shares
Amount
Shares
Amount
Shares
sold:
Class
A
1,071,539
$19,846,728
2,051,982
$43,395,542
3,908,647
$86,693,116
Class
A
-
automatic
conversion
of
Class
C
Shares
1,046
19,618
773
15,063
4,029
88,963
Class
C
182,678
3,365,239
968,231
20,585,586
2,268,130
50,169,131
Class
R6
92,235
1,735,035
240,094
5,174,437
494,981
11,097,087
Class
I
5,193,544
96,232,290
14,965,232
315,344,066
19,629,637
435,944,594
Shares
issued
to
shareholders
due
to
reinvestment
of
distributions:
Class
A
448,126
8,178,989
560,789
11,581,424
538,418
11,936,665
Class
C
348,361
6,345,112
426,470
8,794,848
424,858
9,395,795
Class
R6
12,997
238,900
16,294
337,096
12,715
283,470
Class
I
1,996,333
36,487,441
2,644,023
54,621,376
2,348,984
52,151,620
9,346,859
172,449,352
21,873,888
459,849,438
29,630,399
657,760,441
Shares
redeemed:
Class
A
(2,088,059)
(38,477,314)
(3,853,653)
(79,032,714)
(3,436,627)
(76,080,859)
Class
C
(1,909,628)
(35,436,257)
(2,769,780)
(56,610,478)
(2,561,954)
(56,616,512)
Class
C
-
automatic
conversion
to
Class
A
Shares
(19,618)
(1,049)
(774)
(15,063)
(4,038)
(88,963)
Class
R6
(82,021)
(1,502,753)
(127,357)
(2,578,883)
(154,768)
(3,450,716)
Class
I
(11,823,592)
(217,514,757)
(20,312,303)
(413,125,433)
(13,983,751)
(310,238,395)
(15,922,918)
(292,932,130)
(27,063,867)
(551,362,571)
(20,141,138)
(446,475,445)
Net
increase
(decrease)
(6,576,059)
$(120,482,778)
(5,189,979)
$(91,513,133)
9,489,261
$211,284,996
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
Floating
Rate
Income
Shares
Amount
Shares
Amount
Shares
Amount
Shares
sold:
Class
A
3,831,268
$68,368,210
13,551,835
$253,448,417
3,057,096
$57,723,358
Class
A
-
automatic
conversion
of
Class
C
Shares
883
15,934
56
1,071
168
3,138
Class
C
618,027
11,018,762
1,889,053
35,301,463
426,509
8,050,219
Class
R6
4,356,470
78,156,201
10,599,284
200,849,228
1,213,886
22,572,822
Class
I
29,325,744
524,322,545
114,760,443
2,145,693,666
29,640,494
559,966,794
Shares
issued
to
shareholders
due
to
reinvestment
of
distributions:
Class
A
402,708
7,189,401
317,556
5,847,005
156,481
2,930,167
Class
C
86,501
1,544,262
63,152
1,163,862
51,823
969,296
Class
R6
449,086
8,064,670
328,684
6,097,582
174,422
3,285,824
Class
I
2,967,631
53,025,591
2,683,635
49,477,323
1,283,649
24,079,369
42,038,318
751,705,576
144,193,698
2,697,879,617
36,004,528
679,580,987
Shares
redeemed:
Class
A
(4,781,987)
(85,395,649)
(6,663,962)
(122,682,242)
(1,911,842)
(35,575,148)
Class
C
(867,528)
(15,525,090)
(694,359)
(12,792,746)
(559,193)
(10,414,528)
Class
C
-
automatic
conversion
to
Class
A
Shares
(883)
(15,934)
(56)
(1,071)
(168)
(3,138)
Class
R6
(2,017,900)
(36,416,712)
(2,831,644)
(52,794,499)
(116,078)
(2,202,856)
Class
I
(51,618,844)
(924,611,700)
(61,877,403)
(1,141,389,325)
(17,555,830)
(329,163,438)
(59,287,142)
(1,061,965,085)
(72,067,424)
(1,329,659,883)
(20,143,111)
(377,359,108)
Net
increase
(decrease)
(17,248,824)
$(310,259,509)
72,126,274
$1,368,219,734
15,861,417
$302,221,879
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
High
Yield
Income
Shares
Amount
Shares
Amount
Shares
Amount
Shares
sold:
Class
A
682,080
$11,447,635
1,500,570
$27,860,791
1,520,705
$29,402,853
Class
A
-
automatic
conversion
of
Class
C
Shares
4,604
78,366
398
7,093
5,972
117,155
Class
C
79,412
1,346,528
118,553
2,182,576
189,392
3,702,756
Class
R6
417,651
7,107,161
112,595
2,087,033
115,018
2,253,904
Class
I
2,737,419
46,454,027
15,485,412
287,038,217
13,486,053
261,943,830
Shares
issued
to
shareholders
due
to
reinvestment
of
distributions:
Class
A
77,691
1,306,423
110,743
2,030,857
107,438
2,094,316
Class
C
22,933
385,103
42,446
783,152
73,557
1,428,123
Class
R6
23,630
400,310
17,923
329,845
18,076
353,647
Class
I
695,526
11,704,176
1,153,933
21,220,370
1,355,185
26,421,644
4,740,946
80,229,729
18,542,573
343,539,934
16,871,396
327,718,228
Shares
redeemed:
Class
A
(827,715)
(13,963,866)
(1,365,824)
(25,180,847)
(1,049,758)
(20,206,270)
Class
C
(237,832)
(4,012,906)
(638,471)
(11,894,931)
(676,630)
(13,154,080)
Class
C
-
automatic
conversion
to
Class
A
Shares
(4,606)
(78,366)
(398)
(7,093)
(5,978)
(117,155)
Class
R6
(41,539)
(706,406)
(58,891)
(1,088,848)
(105,319)
(2,056,147)
Class
I
(6,493,416)
(109,947,209)
(19,103,934)
(352,072,284)
(8,666,649)
(168,890,433)
(7,605,108)
(128,708,753)
(21,167,518)
(390,244,003)
(10,504,334)
(204,424,085)
Net
increase
(decrease)
(2,864,162)
$(48,479,024)
(2,624,945)
$(46,704,069)
6,367,062
$123,294,143
Notes
to
Financial
Statements
(Unaudited)
(continued)
6.
Income
Tax
Information
Each
Fund
is
a
separate
taxpayer
for
federal
income
tax
purposes.
Each
Fund
intends
to
distribute
substantially
all
of
its
net
investment
income
and
net
capital
gains
to
shareholders
and
otherwise
comply
with
the
requirements
of
Subchapter
M
of
the
Internal
Revenue
Code
applicable
to
regulated
investment
companies.
Therefore,
no
federal
income
tax
provision
is
required.
Six
Months
Ended
2/28/23
Eleven
Months
Ended
8/31/22
Year
Ended
9/30/21
Preferred
Securities
and
Income
Shares
Amount
Shares
Amount
Shares
Amount
Shares
sold:
Class
A
6,157,775
$93,713,405
10,359,212
$171,859,699
11,922,417
$210,085,022
Class
A
-
automatic
conversion
of
Class
C
Shares
1,436
21,307
552
9,091
7,509
132,718
Class
A
-
automatic
conversion
of
Class
R3
Shares
—
—
—
—
251,245
4,479,699
Class
C
921,395
14,036,853
1,408,003
23,688,870
2,577,549
45,555,914
Class
R3
(1)
—
—
—
—
86,505
1,512,818
Class
R6
17,569,140
269,876,924
39,902,273
661,420,867
37,067,835
656,128,075
Class
I
75,728,210
1,150,092,819
97,231,970
1,610,251,971
90,130,117
1,593,509,790
Shares
issued
to
shareholders
due
to
reinvestment
of
distributions:
Class
A
831,382
12,586,438
1,422,197
23,479,939
1,271,233
22,429,537
Class
C
260,612
3,949,510
458,851
7,595,861
498,716
8,791,619
Class
R3
(1)
—
—
—
—
6,683
117,913
Class
R6
1,993,658
30,307,777
2,821,696
46,663,173
1,882,645
33,386,241
Class
I
5,361,132
81,323,577
8,809,478
145,747,766
7,802,803
137,837,268
108,824,740
1,655,908,610
162,414,232
2,690,717,237
153,505,257
2,713,966,614
Shares
redeemed:
Class
A
(9,805,954)
(148,667,083)
(9,651,585)
(160,212,474)
(7,352,832)
(129,339,236)
Class
C
(1,861,428)
(28,241,603)
(2,967,859)
(49,210,602)
(4,122,450)
(72,507,967)
Class
C
-
automatic
conversion
to
Class
A
Shares
(1,435)
(21,307)
(552)
(9,091)
(7,505)
(132,718)
Class
R3
(1)
—
—
—
—
(21,135)
(375,110)
Class
R3
-
automatic
conversion
to
Class
A
Shares
—
—
—
—
(249,565)
(4,479,699)
Class
R6
(12,863,063)
(196,065,152)
(27,827,832)
(464,961,000)
(13,198,700)
(232,626,251)
Class
I
(68,964,489)
(1,044,723,310)
(105,798,930)
(1,750,308,020)
(49,578,571)
(874,628,412)
(93,496,369)
(1,417,718,455)
(146,246,758)
(2,424,701,187)
(74,530,758)
(1,314,089,393)
Net
increase
(decrease)
15,328,371
$238,190,155
16,167,474
$266,016,050
78,974,499
$1,399,877,221
(1)
Class
R3
Shares
were
converted
to
Class
A
Shares
at
the
close
of
business
on
June
4,
2021
and
are
no
longer
available
for
reinvestment
or
through
an
exchange
from
other
Nuveen
mutual
funds.
Six
Months
Ended
2/28/23
Two
Months
Ended
8/31/22
Year
Ended
6/30/22
Strategic
Income
Shares
Amount
Shares
Amount
Shares
Amount
Shares
sold:
Class
A
1,882,096
$17,913,617
449,641
$4,418,739
2,074,903
$22,023,970
Class
A
-
automatic
conversion
of
Class
C
Shares
5
45
1,692
17,629
1,698
17,693
Class
C
177,198
1,673,705
27,874
269,737
175,027
1,905,437
Class
R6
1,236,341
11,805,467
234,052
2,294,446
19,948,897
225,387,789
Class
I
7,575,047
72,646,838
3,902,489
38,374,636
10,873,634
115,818,601
Shares
issued
to
shareholders
due
to
reinvestment
of
distributions:
Class
A
220,158
2,091,954
62,109
610,080
294,729
3,152,123
Class
C
31,148
294,171
10,661
104,186
55,381
589,068
Class
R6
608,218
5,799,611
179,604
1,771,429
800,966
8,544,118
Class
I
573,784
5,448,339
179,158
1,759,556
837,346
8,929,302
12,303,995
117,673,747
5,047,280
49,620,438
35,062,581
386,368,101
Shares
redeemed:
Class
A
(1,950,293)
(18,566,514)
(323,423)
(3,165,099)
(4,264,306)
(45,949,857)
Class
C
(622,055)
(5,879,694)
(221,537)
(2,156,843)
(947,420)
(10,091,244)
Class
C
-
automatic
conversion
to
Class
A
Shares
(5)
(45)
(1,701)
(17,629)
(1,706)
(17,693)
Class
R6
(1,654,893)
(16,002,280)
(318,704)
(3,137,555)
(2,343,991)
(24,558,640)
Class
I
(10,579,832)
(100,712,859)
(4,895,084)
(47,878,799)
(15,013,236)
(157,577,479)
(14,807,078)
(141,161,392)
(5,760,449)
(56,355,925)
(22,570,659)
(238,194,913)
Net
increase
(decrease)
(2,503,083)
$(23,487,645)
(713,169)
$(6,735,487)
12,491,922
$148,173,188
Each
Fund
files
income
tax
returns
in
U.S.
federal
and
applicable
state
and
local
jurisdictions.
A
Fund's
federal
income
tax
returns
are
generally
subject
to
examination
for
a
period
of
three
fiscal
years
after
being
filed.
State
and
local
tax
returns
may
be
subject
to
examination
for
an
additional
period
of
time
depending
on
the
jurisdiction.
Management
has
analyzed
each
Fund's
tax
positions
taken
for
all
open
tax
years
and
has
concluded
that
no
provision
for
income
tax
is
required
in
the
Fund's
financial
statements.
As
of
the
end
of
the
reporting
period,
the
aggregate
cost
and
the
net
unrealized
appreciation/(depreciation)
of
all
investments
for
federal
income
tax
purposes were
as
follows:
For
purposes
of
this
disclosure,
tax
cost
generally
includes
the
cost
of
portfolio
investments
as
well
as
up-front
fees
or
premiums
exchanged
on
derivatives
and
any
amounts
unrealized
for
income
statement
reporting
but
realized
income
and/or
capital
gains
for
tax
reporting,
if
applicable.
As
of
prior
fiscal
period
end,
the
components
of
accumulated
earnings
on
a
tax
basis
were
as
follows:
As
of
prior
fiscal
period
end,
the
Funds
had
capital
loss
carryforwards,
which
will
not
expire:
7.
Management
Fees
and
Other
Transactions
with
Affiliates
Management
Fees
Each
Fund’s
management
fee
compensates
the
Adviser
for
the
overall
investment
advisory
and
administrative
services
and
general
office
facilities.
The
Sub-Adviser
is
compensated
for
its
services
to
the
Funds
from
the
management
fees
paid
to
the
Adviser.
Each
Fund’s
management
fee
consists
of
two
components
–
a
fund-level
fee,
based
only
on
the
amount
of
assets
within
each
individual
Fund,
and
a
complex-level
fee,
based
on
the
aggregate
amount
of
all
eligible
fund
assets
managed
by
the
Adviser.
This
pricing
structure
enables
each
Fund’s
shareholders
to
benefit
from
growth
in
the
assets
within
their
respective
Fund
as
well
as
from
growth
in
the
amount
of
complex-wide
assets
managed
by
the
Adviser.
Fund
Tax
Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net
Unrealized
Appreciation
(Depreciation)
Credit
Income
$
91,914,220
$
507,763
$
(6,444,245)
$
(
5,936,482)
Flexible
Income
1,478,561,605
23,306,439
(145,670,346)
(122,363,907)
Floating
Rate
Income
2,081,989,715
28,185,015
(100,314,248)
(72,129,233)
High
Yield
Income
531,760,100
6,317,252
(30,184,677)
(23,867,425)
Preferred
Securities
and
Income
5,737,460,416
39,963,385
(373,305,980)
(333,342,595)
Strategic
Income
736,188,947
1,975,953
(70,933,130)
(68,957,177)
Fund
Undistributed
Ordinary
Income
Undistributed
Long-Term
Capital
Gains
Unrealized
Appreciation
(Depreciation)
Capital
Loss
Carryforwards
Late-Year
Loss
Deferrals
Other
Book-to-Tax
Differences
Total
Credit
Income
$
—
$
—
$
(8,715,034)
$
(134,175,790)
$
—
$
(593,780)
$
(143,484,604)
Flexible
Income
18,275,324
—
(180,348,408)
(93,968,944)
—
(6,283,539)
(262,325,567)
Floating
Rate
Income
10,263,157
—
(94,320,658)
(208,818,190)
—
(10,108,933)
(302,984,624)
High
Yield
Income
2,247,772
—
(53,957,543)
(179,788,682)
—
(2,484,837)
(233,983,290)
Preferred
Securities
and
Income
—
—
(353,207,795)
(197,374,914)
—
(24,083,283)
(574,665,992)
Strategic
Income
3,184,616
—
(77,075,716)
(51,047,183)
—
(2,773,288)
(127,711,571)
Fund
Short-Term
Long-Term
Total
Credit
Income
$
45,528,173
$
88,647,617
$
134,175,790
Flexible
Income
57,414,734
36,554,210
93,968,944
Floating
Rate
Income
48,559,269
160,258,921
208,818,190
High
Yield
Income
24,483,847
155,304,835
179,788,682
Preferred
Securities
and
Income
103,663,738
93,711,176
197,374,914
Strategic
Income
30,510,750
20,536,433
51,047,183
Notes
to
Financial
Statements
(Unaudited)
(continued)
The
annual
fund-level
fee,
payable
monthly,
for
each
Fund
was
calculated
according
to
the
following
schedule:
The
annual
complex-level
fee,
payable
monthly,
for
each
Fund
is
determined
by
taking
the
complex-level
fee
rate,
which
is
based
on
the
aggregate
amount
of
“eligible
assets”
of
all
Nuveen
funds
as
set
forth
in
the
schedule
below,
and
for
Credit
Income
and
Strategic
Income,
making,
as
appropriate,
an
upward
adjustment
to
that
rate
based
upon
the
percentage
of
the
particular
fund’s
assets
that
are
not
“eligible
assets.”
The
complex-level
fee
schedule
for
each
Fund
is
as
follows:
*
The
complex-level
fee
is
calculated
based
upon
the
aggregate
daily
“eligible
assets”
of
all
Nuveen
open-end
and
closed-end
funds.
Eligible
assets
do
not
include
assets
attributable
to
investments
in
other
Nuveen
funds
or
assets
in
excess
of
a
determined
amount
(originally
$2
billion)
added
to
the
Nuveen
fund
complex
in
connection
with
the
Adviser’s
assumption
of
the
management
of
the
former
First
American
Funds
effective
January
1,
2011,
but
do
include
certain
assets
of
certain
Nuveen
funds
that
were
reorganized
into
funds
advised
by
an
affiliate
of
the
Adviser
during
the
2019
calendar
year.
Eligible
assets
include
closed-end
fund
assets
managed
by
the
Adviser
that
are
attributable
to
certain
types
of
leverage.
For
these
purposes,
leverage
includes
the
closed-end
funds’
use
of
preferred
stock
and
borrowings
and
certain
investments
in
the
residual
interest
certificates
(also
called
inverse
floating
rate
securities)
in
tender
option
bond
(TOB)
trusts,
including
the
portion
of
assets
held
by
a
TOB
trust
that
has
been
effectively
financed
by
the
trust’s
issuance
of
floating
rate
securities,
subject
to
an
agreement
by
the
Adviser
as
to
certain
funds
to
limit
the
amount
of
such
assets
for
determining
eligible
assets
in
certain
circumstances.
As
of
February
28,
2023,
the
complex-level
fee
rate
for
each
Fund
was
as
follows:
The
Adviser
has
agreed
to
waive
fees
and/or
reimburse
expenses
(“Expense
Cap”)
of
the
Funds
so
that
the
total
annual
Fund
operating
expenses
(excluding
12b-1
distribution
and/or
service
fees,
interest
expenses,
taxes,
acquired
fund
fees
and
expenses,
fees
incurred
in
acquiring
and
disposing
of
portfolio
securities
and
extraordinary
expenses)
do
not
exceed
the
average
daily
net
assets
of
any
class
of
Fund
shares
in
the
amounts
and
for
the
time
periods
stated
in
the
following
table.
However,
because
Class
R6
Shares
are
not
subject
to
sub-transfer
agent
and
similar
fees,
the
total
annual
fund
operating
expense
for
the
Class
R6
Shares
will
be
less
than
the
expense
limitation.
The
temporary
expense
limitations
may
be
terminated
or
modified
prior
to
expiration
date
only
with
the
approval
of
the
Board.
The
expense
limitations
in
effect
thereafter
may
be
terminated
or
modified
only
with
the
approval
of
shareholders
of
each
Fund.
Average
Daily
Net
Assets
Credit
Income
Flexible
Income
Floating
Rate
Income
High
Yield
Income
Preferred
Securities
and
Income
Strategic
Income
For
the
first
$125
million
0.4000
%
0.5500
%
0.4500
%
0.4500
%
0.5500
%
0.3600
%
For
the
next
$125
million
0.3875
0.5375
0.4375
0.4375
0.5375
0.3475
For
the
next
$250
million
0.3750
0.5250
0.4250
0.4250
0.5250
0.3350
For
the
next
$500
million
0.3625
0.5125
0.4125
0.4125
0.5125
0.3225
For
the
next
$1
billion
0.3500
0.5000
0.4000
0.4000
0.5000
0.3100
For
the
next
$3
billion
0.3250
0.4750
0.3750
0.3750
0.4750
0.2850
For
the
next
$5
billion
0.3000
0.4500
0.3500
0.3500
0.4500
0.2600
For
net
assets
over
$10
billion
0.2875
0.4375
0.3375
0.3375
0.4375
0.2475
Complex-Level
Eligible
Asset
Breakpoint
Level*
Effective
Complex-Level
Fee
Rate
at
Breakpoint
Level
$55
billion
0.2000
%
$56
billion
0.1996
$57
billion
0.1989
$60
billion
0.1961
$63
billion
0.1931
$66
billion
0.1900
$71
billion
0.1851
$76
billion
0.1806
$80
billion
0.1773
$91
billion
0.1691
$125
billion
0.1599
$200
billion
0.1505
$250
billion
0.1469
$300
billion
0.1445
Fund
Complex-Level
Fee
Credit
Income
0
.2000%
Flexible
Income
0
.1588%
Floating
Rate
Income
0
.1588%
High
Yield
Income
0
.1588%
Preferred
Securities
and
Income
0
.1588%
Strategic
Income
0
.1965%
Distribution
and
Service
Fees
Each
Fund
has
adopted
a
distribution
and
service
plan
under
rule
12b-1
under
the
1940
Act.
Class
A
Shares
incur
a
0.25%
annual
12b-1
service
fee.
Class
C
Shares
incur
a
0.75%
annual
12b-1
distribution
fee
and
a
0.25%
annual
12b-1
service
fee.
Class
R6
Shares
and
Class
I
Shares
are
not
subject
to
12b-1
distribution
or
service
fees.
The
fees
under
this
plan
compensate
Nuveen
Securities,
LLC,
(the
“Distributor”),
a
wholly-owned
subsidiary
of
Nuveen,
for
services
provided
and
expenses
incurred
in
distributing
shares
of
the
Funds
and
establishing
and
maintaining
shareholder
accounts.
Other
Transactions
with
Affiliates
The
Funds
receive
voluntary
compensation
from
the
Adviser
in
amounts
that
approximate
the
cost
of
research
services
obtained
from
broker-dealers
and
research
providers
if
the
Adviser
had
purchased
the
research
services
directly.
This
income
received
by
the
Funds,
which
amounted
is
disclosed
below,
is
recognized
in
"Other
income"
on
the
Statement
of
Operations.
During
the
current
fiscal
period,
the
Distributor,
collected
sales
charges
on
purchases
of
Class
A
Shares,
the
majority
of
which
were
paid
out
as
concessions
to
financial
intermediaries
as
follows:
The
Distributor
also
received
12b-1
service
fees
on
Class
A
Shares,
substantially
all
of
which
were
paid
to
compensate
financial
intermediaries
for
providing
services
to
shareholders
relating
to
their
investments.
During
the
current
fiscal
period,
the
Distributor
compensated
financial
intermediaries
directly
with
commission
advances
at
the
time
of
purchase
as
follows:
Fund
Temporary
Expense
Cap
Temporary
Expense
Cap
Expiration
Date
Permanent
Expense
Cap
Credit
Income
0.75%
July
31,
2024
N/A
Flexible
Income
0.75%
July
31,
2024
1.25%
Floating
Rate
Income
0.85%
July
31,
2024
1.10%
High
Yield
Income
0.79%
July
31,
2024
1.35%
Preferred
Securities
and
Income
N/A
N/A
1.25%
Strategic
Income
0.59%
July
31,
2024
N/A
N/A
-
Not
Applicable.
Fund
Amount
Credit
Income
$
—
Flexible
Income
50,326
Floating
Rate
Income
—
High
Yield
Income
—
Preferred
Securities
and
Income
—
Strategic
Income
—
Fund
Sales
Charges
Collected
Paid
to
Financial
Intermediaries
Credit
Income
$
8,833
$
7,753
Flexible
Income
73,743
67,019
Floating
Rate
Income
96,461
91,728
High
Yield
Income
11,953
10,416
Preferred
Securities
and
Income
425,050
386,182
Strategic
Income
27,242
25,345
Notes
to
Financial
Statements
(Unaudited)
(continued)
To
compensate
for
commissions
advanced
to
financial
intermediaries,
all
12b-1
service
and
distribution
fees
collected
on
Class
C
Shares
during
the
first
year
following
a
purchase
are
retained
by
the
Distributor.
During
the
current
fiscal
period,
the
Distributor
retained
such
12b-1
fees
as
follows:
The
remaining
12b-1
fees
charged
to
each
Fund
were
paid
to
compensate
financial
intermediaries
for
providing
services
to
shareholders
relating
to
their
investments.
The
Distributor
also
collected
and
retained
CDSC
on
share
redemptions
during
the
current
fiscal
period,
as
follows:
As
of
the
end
of
the
reporting
period,
the
percentage
of
Fund
shares
owned
by
Nuveen
were
as
follows:
8.
Borrowing
Arrangements
Committed
Line
of
Credit
The
Funds,
along
with
certain
other
funds
managed
by
the
Adviser
(“Participating
Funds”),
have
established
a
364-day,
$2.700
billion
standby
credit
facility
with
a
group
of
lenders,
under
which
the
Participating
Funds
may
borrow
for
temporary
purposes
(other
than
on-going
leveraging
for
investment
purposes).
Each
Participating
Fund
is
allocated
a
designated
proportion
of
the
facility’s
capacity
(and
its
associated
costs,
as
described
below)
based
upon
a
multi-factor
assessment
of
the
likelihood
and
frequency
of
its
need
to
draw
on
the
facility,
the
size
of
the
Fund
and
its
anticipated
draws,
and
the
potential
importance
of
such
draws
to
the
operations
and
well-being
of
the
Fund,
relative
to
those
of
the
other
Funds.
A
Fund
may
effect
draws
on
the
facility
in
excess
of
its
designated
capacity
if
and
to
the
extent
that
other
Participating
Funds
have
undrawn
capacity.
The
credit
facility
expires
in
June
2023
unless
extended
or
renewed.
Fund
Commission
Advances
Credit
Income
$
1,252
Flexible
Income
38,200
Floating
Rate
Income
100,111
High
Yield
Income
2,583
Preferred
Securities
and
Income
198,347
Strategic
Income
14,561
Fund
12b-1
Fees
Retained
Credit
Income
$
3,112
Flexible
Income
94,138
Floating
Rate
Income
75,130
High
Yield
Income
5,986
Preferred
Securities
and
Income
110,056
Strategic
Income
8,575
Fund
CDSC
Retained
Credit
Income
$
50
Flexible
Income
12,653
Floating
Rate
Income
62,992
High
Yield
Income
1,730
Preferred
Securities
and
Income
48,417
Strategic
Income
13,650
Fund
Nuveen
Owned
Shares
Flexible
Income
-%*
Floating
Rate
Income
-%*
*Rounds
to
less
than
1%.
The
credit
facility
has
the
following
terms:
0.15%
per
annum
on
unused
commitment
amounts
and
a
drawn
interest
rate
equal
to
the
higher
of
(a)
OBFR
(Overnight
Bank
Funding
Rate)
plus
1.20%
per
annum
or
(b)
the
Fed
Funds
Effective
Rate
plus
1.20%
per
annum
on
amounts
borrowed.
The
Participating
Funds
also
incurred
a
0.05%
upfront
fee
on
the
increased
commitments
from
select
lenders.
Interest
expense
incurred
by
the
Participating
Funds,
when
applicable,
is
recognized
as
a
component
of
“Interest
expense”
on
the
Statement
of
Operations.
Participating
Funds
paid
administration,
legal
and
arrangement
fees,
which
are
recognized
as
a
component
of
“Interest
expense”
on
the
Statement
of
Operations,
and
along
with
commitment
fees,
have
been
allocated
among
such
Participating
Funds
based
upon
the
relative
proportions
of
the
facility’s
aggregate
capacity
reserved
for
them
and
other
factors
deemed
relevant
by
the
Adviser
and
the
Board
of
each
Participating
Fund.
During
each
Fund’s
utilization
period(s)
during
the
current
fiscal
period,
the
average
daily
balance
outstanding
and
average
annual
interest
rate
on
the
Borrowings
were
as
follows:
Borrowings
outstanding
as
of
the
end
of
the
reporting
period,
if
any,
are
recognized
as
“Borrowings”
on
the
Statement
of
Assets
and
Liabilities.
Fund
Maximum
Outstanding
Balance
Credit
Income
$
16,400,000
Flexible
Income
—
Floating
Rate
Income
35,200,000
High
Yield
Income
35,800,000
Preferred
Securities
and
Income
15,000,000
Strategic
Income
337,430
Fund
Utilization
Period
(Days
Outstanding)
Average
Daily
Balance
Outstanding
Average
Annual
Interest
Rate
Credit
Income
38
$
2,412,219
4.73
%
Flexible
Income
—
—
—
Floating
Rate
Income
64
17,282,813
4.59
High
Yield
Income
4
35,800,000
3.53
Preferred
Securities
and
Income
8
10,312,500
5.22
Strategic
Income
4
337,430
5.53
Additional
Fund
Information
(Unaudited)
Investment
Adviser
Nuveen
Fund
Advisors,
LLC
333
West
Wacker
Drive
Chicago,
IL
60606
Sub-Adviser
Nuveen
Asset
Management,
LLC
333
West
Wacker
Drive
Chicago,
IL
60606
Independent
Registered
Public
Accounting
Firm
KPMG
LLP
200
East
Randolph
Street
Chicago,
IL
60601
Custodian
State
Street
Bank
&
Trust
Company
One
Lincoln
Street
Boston,
MA
02111
Legal
Counsel
Chapman
and
Cutler
LLP
Chicago,
IL
60603
Transfer
Agent
and
Shareholder
Services
DST
Asset
Manager
Solutions,
Inc.
(DST)
P.O.
Box
219140
Kansas
City,
MO
64121-9140
(800)
257-8787
Portfolio
of
Investments
Information
Each
Fund
is
required
to
file
its
complete
schedule
of
portfolio
holdings
with
the
Securities
and
Exchange
Commission
(SEC)
for
the
first
and
third
quarters
of
each
fiscal
year
as
an
exhibit
to
its
report
on
Form
N-PORT.
You
may
obtain
this
information
on
the
SEC’s
website
at
http://www.sec.gov.
Nuveen
Funds’
Proxy
Voting
Information
You
may
obtain
(i)
information
regarding
how
each
fund
voted
proxies
relating
to
portfolio
securities
held
during
the
most
recent
twelve-month
period
ended
June
30,
without
charge,
upon
request,
by
calling
Nuveen
toll-free
at
(800)
257-8787
or
on
Nuveen’s
website
at
www.nuveen.com
and
(ii)
a
description
of
the
policies
and
procedures
that
each
fund
used
to
determine
how
to
vote
proxies
relating
to
portfolio
securities
without
charge,
upon
request,
by
calling
Nuveen
toll-free
at
(800)
257-8787.
You
may
also
obtain
this
information
directly
from
the
SEC.
Visit
the
SEC
on-line
at
http://www.sec.gov.
FINRA
BrokerCheck
:
The
Financial
Industry
Regulatory
Authority
(FINRA)
provides
information
regarding
the
disciplinary
history
of
FINRA
member
firms
and
associated
investment
professionals.
This
information
as
well
as
an
investor
brochure
describing
FINRA
BrokerCheck
is
available
to
the
public
by
calling
the
FINRA
BrokerCheck
Hotline
number
at
(800)
289-9999
or
by
visiting
www.FINRA.org.
Glossary
of
Terms
Used
in
this
Report
(Unaudited)
Asset-Backed
Securities
(ABS):
Securities
whose
value
and
income
payments
are
derived
from
and
collateralized
by
a
specific
pool
of
underlying
assets.
The
pool
of
assets
typically
is
a
group
of
small
and/or
illiquid
assets
that
may
be
difficult
to
sell
individually.
The
underlying
pools
of
asset-backed
securities
often
include
payments
from
credit
cards,
auto
loans
or
mortgage
loans.
Average
Annual
Total
Return:
This
is
a
commonly
used
method
to
express
an
investment’s
performance
over
a
particular,
usually
multi-year
time
period.
It
expresses
the
return
that
would
have
been
necessary
each
year
to
equal
the
investment’s
actual
cumulative
performance
(including
change
in
NAV
or
offer
price
and
reinvested
dividends
and
capital
gains
distributions,
if
any)
over
the
time
period
being
considered.
Basis
Point:
One
one-hundredth
of
one
percentage
point,
or
0.01%.
For
example,
25
basis
points
equals
0.25%.
Beta:
A
measure
of
the
variability
of
the
change
in
the
share
price
for
a
fund
in
relation
to
a
change
in
the
value
of
the
fund’s
market
benchmark.
Securities
with
betas
higher
than
1.0
have
been,
and
are
expected
to
be,
more
volatile
than
the
benchmark;
securities
with
betas
lower
than
1.0
have
been,
and
are
expected
to
be,
less
volatile
than
the
benchmark.
Bloomberg
Capital
Securities
Index:
An
Index
designed
to
measure
the
performance
of
USD-denominated
preferred
securities,
including
Tier
1
and
Tier
2
securities.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Bloomberg
U.S.
Aggregate
Bond
Index:
An
index
designed
to
measure
the
performance
of
the
USD-denominated,
fixed-rate
U.S.
investment
grade
taxable
bond
market.
The
index
includes
Treasuries,
government-related
and
corporate
securities,
mortgage-backed
securities
(MBS),
asset-backed
securities
(ABS)
and
commercial
mortgage-
backed
securities
(CMBS).
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Bloomberg
U.S.
Corporate
High
Yield
2%
Issuer
Capped
Bond
Index:
An
issuer-constrained
version
of
the
U.S.
Corporate
High
Yield
Bond
Index,
which
is
an
index
designed
to
measure
the
performance
of
the
USD-denominated,
fixed-rate
corporate
high
yield
bond
market
that
limits
each
issuer
to
2%
of
the
index.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Commercial
Mortgage-Backed
Securities
(CMBS):
Commercial
mortgage-backed
securities
are
backed
by
cash
flows
of
a
mortgage
or
pool
of
mortgages
on
commercial
real
estate.
CMBS
generally
are
structured
to
provide
protection
to
the
senior
class
investors
against
potential
losses
on
the
underlying
mortgage
loans.
CMBS
are
typically
characterized
by
the
following:
i)
loans
on
multi-family
housing,
non-residential
property,
ii)
payments
based
on
the
amortization
schedule
of
25-30
years
with
a
balloon
payment
due
usually
after
10
years,
and
iii)
restrictions
on
prepayments.
Contingent
Capital
Securities
(CoCos):
CoCos
are
debt
or
capital
securities
of
primarily
non-U.S.
issuers
with
loss
absorption
contingency
mechanisms
built
into
the
terms
of
the
security,
for
example
a
mandatory
conversion
into
common
stock
of
the
issuer,
or
a
principal
write-down,
which
if
triggered
would
likely
cause
the
CoCo
investment
to
lose
value.
Loss
absorption
mechanisms
would
become
effective
upon
the
occurrence
of
a
specified
contingency
event,
or
at
the
discretion
of
a
regulatory
body.
Specified
contingency
events,
as
identified
in
the
CoCo’s
governing
documents,
usually
reference
a
decline
in
the
issuer’s
capital
below
a
specified
threshold
level,
and/or
certain
regulatory
events.
A
loss
absorption
contingency
event
for
CoCos
would
likely
be
the
result
of,
or
related
to,
the
deterioration
of
the
issuer’s
financial
condition
and/or
its
status
as
a
going
concern.
In
such
a
case,
with
respect
to
CoCos
that
provide
for
conversion
into
common
stock
upon
the
occurrence
of
the
contingency
event,
the
market
price
of
the
issuer’s
common
stock
received
by
the
Acquiring
Fund
will
have
likely
declined,
perhaps
substantially,
and
may
continue
to
decline
after
conversion.
CoCos
rated
below
investment
grade
should
be
considered
high
yield
securities,
or
“junk,”
but
often
are
issued
by
entities
whose
more
senior
securities
are
rated
investment
grade.
CoCos
are
a
relatively
new
type
of
security;
and
there
is
a
risk
that
CoCo
security
issuers
may
suffer
the
sort
of
future
financial
distress
that
could
materially
increase
the
likelihood
(or
the
market’s
perception
of
the
likelihood)
that
an
automatic
write-down
or
conversion
event
on
those
issuers’
CoCos
will
occur.
Additionally,
the
trading
behavior
of
a
given
issuer’s
CoCo
may
be
strongly
impacted
by
the
trading
behavior
of
other
issuers’
CoCos,
such
that
negative
information
from
an
unrelated
CoCo
security
may
cause
a
decline
in
value
of
one
or
more
CoCos
held
by
the
Fund.
Accordingly,
the
Glossary
of
Terms
Users
in
the
Report
(Unaudited)
(continued)
trading
behavior
of
CoCos
may
not
follow
the
trading
behavior
of
other
types
of
debt
and
preferred
securities.
Despite
these
concerns,
the
prospective
reward
vs.
risk
characteristics
of
at
least
certain
CoCos
may
be
very
attractive
relative
to
other
fixed-income
alternatives.
Credit
Suisse
Leveraged
Loan
Index:
An
index
designed
to
measure
the
performance
of
the
USD-denominated
leveraged
loan
market.
The
index
includes
issuers
from
developed
countries;
issuers
from
developing
countries
are
excluded.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Duration:
Duration
is
a
measure
of
the
expected
period
over
which
a
bond’s
principal
and
interest
will
be
paid,
and
consequently
is
a
measure
of
the
sensitivity
of
a
bond’s
(or
bond
fund’s)
value
to
changes
when
market
interest
rates
change.
Generally,
the
longer
a
bond
or
fund’s
duration,
the
more
the
price
of
the
bond
or
fund
will
change
as
interest
rates
change.
Flexible
Income
Blended
Benchmark:
Consists
of:
1)
50%
ICE
BofA
U.S.
Corporate
Index
(defined
herein),
and
2)
50%
ICE
BofA
U.S.
High
Yield
Index
(defined
herein).
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Hybrid
Security:
A
hybrid
security
combines
two
or
more
different
financial
instruments.
A
hybrid
security
generally
combines
both
debt
and
equity
characteristics.
ICE
BofA
Contingent
Capital
Securities
(USD
Hedged)
Index:
An
index
designed
to
measure
the
performance
of
all
contingent
capital
debt
publicly
issued
in
the
major
domestic
and
Eurobond
markets,
including
investment
grade
and
sub-investment
grade
issues.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
ICE
BofA
Fixed
Rate
Preferred
Securities
Index:
An
Index
designed
to
measure
the
performance
of
investment
grade
fixed-rate,
USD-denominated
preferred
securities
issued
in
the
U.S.
domestic
market.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
ICE
BofA
U.S.
All
Capital
Securities
Index:
An
index
designed
to
measure
the
performance
of
investment
grade
and
below
investment
grade
fixed
rate
and
fixed-to-floating
rate,
USD-denominated
hybrid
corporate
and
preferred
securities
publicly
issued
in
the
U.S.
domestic
market.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
ICE
BofA
U.S.
Corporate
Index:
An
index
comprised
of
USD-denominated
investment
grade,
fixed-rate
corporate
debt
securities
publicly
issued
in
the
U.S.
domestic
market
with
at
least
one
year
remaining
to
maturity
and
a
minimum
amount
outstanding
of
$250
million.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
include
the
effects
of
any
sales
charges
or
management
fees.
ICE
BofA
U.S.
High
Yield
Index:
An
index
designed
to
measure
the
performance
of
USD-denominated
below
investment
grade
corporate
debt
publicly
issued
in
the
U.S.
domestic
market.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
ICE
USD
Contingent
Capital
Index:
An
index
designed
to
measure
the
performance
of
USD-denominated
contingent
capital
debt
publicly
issued
in
the
major
domestic
and
Eurobond
markets,
including
investment
grade
and
below
investment
grade
issues.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Lipper
Flexible
Income
Funds
Classification
Average:
Represents
the
average
annualized
total
return
for
all
reporting
funds
in
the
Lipper
Flexible
Income
Funds
Classification.
Lipper
returns
account
for
the
effects
of
management
fees
and
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges.
Lipper
Global
High
Yield
Funds
Classification
Average:
Represents
the
average
annualized
returns
for
all
reporting
funds
in
the
Lipper
Global
High
Yield
Funds
Classification.
Lipper
returns
account
for
the
effects
of
management
fees
and
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges.
Lipper
High
Yield
Funds
Classification
Average:
Represents
the
average
annualized
total
return
for
all
reporting
funds
in
the
Lipper
High
Yield
Funds
Classification.
Lipper
returns
account
for
the
effects
of
management
fees
and
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges.
Lipper
Loan
Participation
Funds
Classification
Average:
Represents
the
average
annualized
total
return
for
all
reporting
funds
in
the
Lipper
Loan
Participation
Funds
Classification.
Lipper
returns
account
for
the
effects
of
management
fees
and
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges.
Lipper
Multi-Sector
Income
Funds
Classification
Average:
Represents
the
average
annualized
returns
for
all
reporting
funds
in
the
Lipper
Multi-Sector
Income
Funds
Classification.
Lipper
returns
account
for
the
effects
of
management
fees
and
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges.
Mortgage-Backed
Securities
(MBS):
Mortgage-backed
securities
(MBS)
are
bonds
backed
by
pools
of
mortgages,
usually
with
similar
characteristics,
and
which
return
principal
and
interest
in
each
payment.
MBS
are
composed
of
residential
mortgages
(RMBS)
or
commercial
mortgages
(CMBS).
RMBS
are
further
divided
into
agency
RMBS
and
non-
agency
RMBS,
depending
on
the
issuer.
Net
Asset
Value
(NAV)
Per
Share:
A
fund’s
Net
Assets
is
equal
to
its
total
assets
(securities,
cash
and
accrued
earnings)
less
its
total
liabilities.
For
funds
with
multiple
classes,
Net
Assets
are
determined
separately
for
each
share
class.
NAV
per
share
is
equal
to
the
fund’s
(or
share
class’)
Net
Assets
divided
by
its
number
of
shares
outstanding.
Option-adjusted
spread
(OAS):
The
option-adjusted
spread
(OAS)
for
a
fixed-income
security
is
the
amount
of
yield
that
would
need
to
be
added
to
each
of
the
discount
rates
used
to
value
each
of
the
security’s
cash
flows
(typically
based
on
the
yields
of
U.S.
Treasury
securities)
so
that
the
sum
of
the
discounted
value
of
all
of
the
security’s
cash
flows
matches
its
market
price,
using
a
dynamic
pricing
model
that
takes
into
account
any
embedded
options,
such
as
call
features,
applicable
to
the
security.
Preferred
Securities
and
Income
Blended
Benchmark
(effective
January
29,
2021):
Consists
of:
1)
65%
ICE
BofA
Fixed
Rate
Preferred
Securities
Index
(defined
herein),
and
2)
35%
Bloomberg
Capital
Securities
Index
(defined
herein)
through
December
30,
2013,
and
thereafter
1)
60%
ICE
BofA
U.S.
All
Capital
Securities
Index
(defined
herein),
and
2)
40%
ICE
USD
Contingent
Capital
Index
(defined
herein).
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Preferred
Securities
and
Income
Blended
Benchmark
(through
January
28,
2021):
Consists
of:
1)
65%
ICE
BofA
Fixed
Rate
Preferred
Securities
Index
(defined
herein),
and
2)
35%
Bloomberg
Capital
Securities
Index
(see
Fund’s
current
Blended
Benchmark)
until
December
30,
2013,
and
thereafter
1)
60%
ICE
BofA
U.S.
All
Capital
Securities
Index
(defined
herein),
and
2)
40%
ICE
BofA
Contingent
Capital
Securities
(USD
Hedged)
Index
(defined
herein).
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Tax
Equalization:
The
practice
of
treating
a
portion
of
the
distribution
made
to
a
redeeming
shareholder,
which
represents
their
proportionate
part
of
undistributed
net
investment
income
and
capital
gain
as
a
distribution
for
tax
purposes.
Such
amounts
are
referred
to
as
the
equalization
debits
(or
payments)
and
will
be
considered
a
distribution
to
the
shareholder
of
net
investment
income
and
capital
gain
for
calculation
of
the
Fund’s
dividends
paid
deduction.
Zero
Coupon
Bond:
A
zero
coupon
bond
does
not
pay
a
regular
interest
coupon
to
its
holders
during
the
life
of
the
bond.
Income
to
the
holder
of
the
bond
comes
from
accretion
of
the
difference
between
the
original
purchase
price
of
the
bond
at
issuance
and
the
par
value
of
the
bond
at
maturity
and
is
effectively
paid
at
maturity.
The
market
prices
of
zero
coupon
bonds
generally
are
more
volatile
than
the
market
prices
of
bonds
that
pay
interest
periodically.
Liquidity
Risk
Management
Program
(Unaudited)
Discussion
of
the
operation
and
effectiveness
of
the
Funds’
liquidity
risk
management
program
In
compliance
with
Rule
22e-4
under
the
Investment
Company
Act
of
1940,
as
amended
(the
“Liquidity
Rule”),
each
Fund
covered
in
this
Report
(the
“Funds”)
has
adopted
and
implemented
a
liquidity
risk
management
program
(the
“Program”),
which
is
designed
to
manage
the
Funds’
liquidity
risk.
The
Program
consists
of
various
protocols
for
assessing
and
managing
each
Fund’s
liquidity
risk.
The
Funds’
Board
of
Trustees
(the
“Board”)
previously
designated
Nuveen
Fund
Advisors,
LLC,
the
Funds’
investment
adviser,
as
the
Administrator
of
the
Program.
The
adviser’s
Liquidity
Monitoring
and
Analysis
Team
(“LMAT”)
carries
out
day-to-day
Program
management
with
oversight
by
the
adviser’s
Liquidity
Oversight
Sub-Committee
(the
”LOSC”).
The
LOSC
is
composed
of
personnel
from
the
adviser
and
Teachers
Advisors,
LLC,
an
affiliate
of
the
adviser.
At
a
May
23-25,
2022
meeting
of
the
Board,
the
Administrator
provided
the
Board
with
a
written
report
addressing
the
Program’s
operation,
adequacy
and
effectiveness
of
implementation
for
calendar
year
2021
(the
“Review
Period”),
as
required
under
the
Liquidity
Rule.
The
report
noted
that
the
Prog
ram
has
been
and
continues
to
be
adequately
and
effectively
implemented
to
monitor
and
(as
applicable)
respond
to
each
Fund’s
liquidity
developments.
In
accordance
with
the
Program,
the
LMAT
assesses
each
Fund’s
liquidity
risk
no
less
frequently
than
annually
based
on
various
factors,
such
as
(i)
the
Fund’s
investment
strategy
and
the
liquidity
of
portfolio
investments,
(ii)
cash
flow
projections,
and
(ii)
holdings
of
cash
and
cash
equivalents,
borrowing
arrangements,
and
other
funding
sources.
Certain
factors
are
considered
under
both
normal
and
reasonably
foreseeable
stressed
conditions.
Each
Fund
portfolio
investment
is
classified
into
one
of
four
liquidity
categories
(including
the
most
liquid,
“Highly
Liquid”,
and
the
least
liquid,
“Illiquid”,
discussed
below),
The
classification
is
based
on
a
determination
of
how
long
it
is
reasonably
expected
to
take
to
convert
the
investment
into
cash,
or
sell
or
dispose
of
the
investment,
in
current
market
conditions
without
significantly
changing
the
market
value
of
the
investment
Liquidity
classification
determinations
take
into
account
various
market,
trading,
and
investment-specific
considerations,
as
well
as
market
depth,
and
use
third-
party
vendor
data.
Any
Fund
that
does
not
primarily
hold
highly
liquid
investments
must,
among
other
things,
determine
a
minimum
percentage
of
Fund
assets
that
must
be
invested
in
highly
liquid
investments
(a
“Highly
Liquid
Investment
Minimum”).
During
the
Review
Period,
Nuveen
Floating
Rate
Income
Fund
determined
that
it
would
hold
a
minimum
of
10%
of
its
assets
in
highly
liquid
investments,
and
Nuveen
High
Yield
Income
Fund
determined
that
it
would
hold
a
minimum
of
20%
of
its
assets
in
highly
liquid
investments.
Both
Funds
maintained
at
least
that
amount
during
the
Review
period.
The
Liquidity
Rule
also
limits
a
Fund’s
investments
in
Illiquid
investments.
Specifically,
the
Liquidity
Rule
prohibits
a
Fund
from
acquiring
Illiquid
investments
if
doing
so
would
result
in
the
Fund
holding
more
than
15%
of
its
net
assets
in
illiquid
investments,
and
requires
certain
reporting
to
the
Fund
Board
and
the
Securities
and
Exchange
Commission
any
time
a
Fund’s
holdings
of
Illiquid
investments
exceeds
15%
of
net
assets.
During
the
Review
Period,
no
Fund
exceeded
the
15%
limit
on
Illiquid
investments.
Nuveen
Securities,
LLC,
member
FINRA
and
SIPC
333
West
Wacker
Drive
Chicago,
IL
60606
www.nuveen.com
MSA-TFI-0223D
2809363-INV-B-04/24
Nuveen:
Serving
Investors
for
Generations
Since
1898,
financial
advisors
and
their
clients
have
relied
on
Nuveen
to
provide
dependable
investment
solutions
through
continued
adherence
to
proven,
long-term
investing
principles.
Today,
we
offer
a
range
of
high
quality
solutions
designed
to
be
integral
components
of
a
well-diversified
core
portfolio.
Focused
on
meeting
investor
needs.
Nuveen
is
the
investment
manager
of
TIAA.
We
have
grown
into
one
of
the
world’s
premier
global
asset
managers,
with
specialist
knowledge
across
all
major
asset
classes
and
particular
strength
in
solutions
that
provide
income
for
investors
and
that
draw
on
our
expertise
in
alternatives
and
responsible
investing.
Nuveen
is
driven
not
only
by
the
independent
investment
processes
across
the
firm,
but
also
the
insights,
risk
management,
analytics
and
other
tools
and
resources
that
a
truly
world-class
platform
provides.
As
a
global
asset
manager,
our
mission
is
to
work
in
partnership
with
our
clients
to
create
solutions
which
help
them
secure
their
financial
future.
Find
out
how
we
can
help
you.
To
learn
more
about
how
the
products
and
services
of
Nuveen
may
be
able
to
help
you
meet
your
financial
goals,
talk
to
your
financial
advisor,
or
call
us
at
(800)
257-8787.
Please
read
the
information
provided
carefully
before
you
invest.
Investors
should
consider
the
investment
objective
and
policies,
risk
considerations,
charges
and
expenses
of
any
investment
carefully.
Where
applicable,
be
sure
to
obtain
a
prospectus,
which
contains
this
and
other
relevant
information.
To
obtain
a
prospectus,
please
contact
your
securities
representative
or
Nuveen,
333
W.
Wacker
Dr.,
Chicago,
IL
60606.
Please
read
the
prospectus
carefully
before
you
invest
or
send
money.
Learn
more
about
Nuveen
Funds
at:
www.nuveen.com/mutual-funds
Not applicable to this filing.
| ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
Not applicable to this filing.
| ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Not applicable to this filing.
| ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable to this registrant.
| ITEM 6. | SCHEDULE OF INVESTMENTS. |
| (a) | | See Portfolio of Investments in Item 1. |
| ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this registrant.
| ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this registrant.
| ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
Not applicable to this registrant.
| ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
| ITEM 11. | 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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
| ITEM 12. | DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
File the exhibits listed below as part of this Form.
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 Investment Trust V
| | | | |
| By (Signature and Title) | | /s/ Mark J. Czarniecki |
| | Mark J. Czarniecki |
| | Vice President and Secretary |
Date: May 5, 2023
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/ Christopher E. Stickrod |
| | Christopher E. Stickrod |
| | Chief Administrative Officer |
| | (principal executive officer) |
Date: May 5, 2023
| | |
| By (Signature and Title) | | /s/ E. Scott Wickerham |
| | E. Scott Wickerham Vice President and Controller (principal financial officer) |
Date: May 5, 2023
