JSD
Nuveen Short Duration Credit Opportunities Fund
Portfolio of Investments October 31, 2020
(Unaudited)
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
LONG-TERM INVESTMENTS – 154.1% (96.8% of Total Investments) | ||||||||
VARIABLE RATE SENIOR LOAN INTERESTS – 136.0% (85.5% of Total Investments) (2) | ||||||||
Aerospace & Defense – 1.8% (1.2% of Total Investments) | ||||||||
$360 | MacDonald, Dettwiler and Associates, Ltd., Term Loan B | 2.900% | 1-Month LIBOR | 2.750% | 10/05/24 | B | $347,507 | |
211 | Standard Aero, Term Loan B1 | 3.720% | 3-Month LIBOR | 3.500% | 4/08/26 | B- | 189,540 | |
113 | Standard Aero, Term Loan B2 | 3.720% | 3-Month LIBOR | 3.500% | 4/08/26 | B- | 101,903 | |
1,840 | Transdigm, Inc., Term Loan F | 2.398% | 1-Month LIBOR | 2.250% | 12/09/25 | Ba3 | 1,735,792 | |
249 | Transdigm, Inc., Term Loan G | 2.398% | 1-Month LIBOR | 2.250% | 8/22/24 | Ba3 | 235,322 | |
2,773 | Total Aerospace & Defense | 2,610,064 | ||||||
Air Freight & Logistics – 0.6% (0.4% of Total Investments) | ||||||||
86 | PAE Holding Corp, Delayed Draw, (WI/DD) | TBD | TBD | TBD | TBD | B | 84,944 | |
722 | XPO Logistics, Inc., Term Loan B | 2.148% | 1-Month LIBOR | 2.000% | 2/24/25 | BBB- | 709,533 | |
808 | Total Air Freight & Logistics | 794,477 | ||||||
Airlines – 1.7% (1.1% of Total Investments) | ||||||||
407 | American Airlines, Inc., Term Loan B | 2.145% | 1-Month LIBOR | 2.000% | 4/28/23 | Ba3 | 339,945 | |
778 | American Airlines, Inc., Term Loan B | 1.906% | 1-Month LIBOR | 1.750% | 1/29/27 | Ba3 | 586,018 | |
183 | American Airlines, Inc., Term Loan B | 2.148% | 1-Month LIBOR | 2.000% | 12/14/23 | Ba3 | 153,209 | |
700 | Delta Air Lines SkyMiles, Term Loan B | 4.750% | 3-Month LIBOR | 3.750% | 10/20/27 | Baa1 | 698,687 | |
742 | WestJet Airlines, Term Loan | 4.000% | 6-Month LIBOR | 3.000% | 12/11/26 | BB- | 656,689 | |
2,810 | Total Airlines | 2,434,548 | ||||||
Auto Components – 2.0% (1.2% of Total Investments) | ||||||||
99 | Adient Global Holdings, Initial Term Loan | 4.421% | 3-Month LIBOR | 4.250% | 5/06/24 | Ba3 | 98,302 | |
832 | DexKo Global, Inc., Term Loan B | 4.500% | 1-Month LIBOR | 3.500% | 7/24/24 | B1 | 814,515 | |
972 | Johnson Controls Inc., Term Loan B | 3.648% | 1-Month LIBOR | 3.500% | 4/30/26 | B1 | 946,867 | |
500 | Les Schwab Tire Centers, Term Loan B, (WI/DD) | TBD | TBD | TBD | TBD | B | 496,250 | |
449 | Superior Industries International, Inc., Term Loan B | 4.148% | 1-Month LIBOR | 3.500% | 5/23/24 | B1 | 427,743 | |
2,852 | Total Auto Components | 2,783,677 | ||||||
Banks – 0.1% (0.0% of Total Investments) | ||||||||
91 | iQor US, Inc., DIP Term Loan, (5) | 11.000% | 3-Month LIBOR | 10.000% | 4/01/22 | N/R | 85,636 | |
Beverages – 0.4% (0.2% of Total Investments) | ||||||||
533 | Jacobs Douwe Egberts, Term Loan B | 2.188% | 1-Month LIBOR | 2.000% | 11/01/25 | BB+ | 532,119 |
1
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Biotechnology – 0.6% (0.4% of Total Investments) | ||||||||
$910 | Grifols, Inc., Term Loan B, First Lien | 2.094% | 1-Week LIBOR | 2.000% | 11/15/27 | Ba2 | $888,926 | |
Building Products – 1.0% (0.6% of Total Investments) | ||||||||
319 | Ply Gem Industries, Inc., Term Loan B | 3.895% | 1-Month LIBOR | 3.750% | 4/12/25 | B+ | 313,720 | |
1,135 | Quikrete Holdings, Inc., Term Loan B | 2.645% | 1-Month LIBOR | 2.500% | 1/31/27 | BB- | 1,115,555 | |
1,454 | Total Building Products | 1,429,275 | ||||||
Capital Markets – 2.2% (1.4% of Total Investments) | ||||||||
178 | RPI Finance Trust, Term Loan B1 | 1.898% | 1-Month LIBOR | 1.750% | 2/11/27 | BBB- | 177,843 | |
2,408 | Sequa Mezzanine Holdings LLC, Extended Term Loan, (cash 6.750%, PIK 1.000%) | 7.750% | 3-Month LIBOR | 6.750% | 7/31/23 | B- | 2,284,567 | |
782 | Sequa Mezzanine Holdings LLC, Second Lien Term Loan | 5.875% | 3-Month LIBOR | 4.875% | 7/31/24 | CCC- | 625,439 | |
3,368 | Total Capital Markets | 3,087,849 | ||||||
Chemicals – 0.7% (0.4% of Total Investments) | ||||||||
416 | Ineos US Finance LLC, Term Loan | 2.148% | 1-Month LIBOR | 2.000% | 3/31/24 | BBB- | 405,083 | |
250 | Lummus Technology, Term Loan | 4.148% | 1-Month LIBOR | 4.000% | 6/30/27 | B+ | 246,386 | |
319 | PQ Corporation, Incremental Term Loan B | 4.000% | 3-Month LIBOR | 3.000% | 2/07/27 | BB- | 317,245 | |
985 | Total Chemicals | 968,714 | ||||||
Commercial Services & Supplies – 4.9% (3.1% of Total Investments) | ||||||||
250 | Amentum Government Services Holdings LLC, Term Loan B, (WI/DD) | TBD | TBD | TBD | TBD | N/R | 245,312 | |
359 | Brand Energy & Infrastructure Services, Inc., Term Loan B, First Lien | 5.250% | 3-Month LIBOR | 4.250% | 6/21/24 | B- | 335,740 | |
2,878 | Formula One Group, Term Loan B | 3.500% | 1-Month LIBOR | 2.500% | 2/01/24 | B+ | 2,774,739 | |
289 | Garda World Security Corp, Term Loan B, First Lien | 4.900% | 1-Month LIBOR | 4.750% | 10/30/26 | BB+ | 288,171 | |
954 | GFL Environmental, Term Loan | 4.000% | 3-Month LIBOR | 3.000% | 5/31/25 | BB- | 946,967 | |
132 | Harland Clarke Holdings Corporation, Term Loan B7 | 5.750% | 3-Month LIBOR | 4.750% | 11/03/23 | CCC+ | 104,110 | |
778 | iQor US, Inc., Term Loan, First Lien, (5) | 0.000% | N/A | N/A | 4/01/21 | D | 506,574 | |
167 | iQor US, Inc., Term Loan, Second Lien, (5) | 0.000% | N/A | N/A | 4/01/22 | D | 6,667 | |
277 | KAR Auction Services, Inc., Term Loan B6 | 2.438% | 1-Month LIBOR | 2.250% | 9/19/26 | Ba3 | 266,962 | |
423 | PAE Holding Corp, New Term Loan B, (WI/DD) | TBD | TBD | TBD | TBD | B | 419,055 | |
68 | Pitney Bowes Inc., Term Loan B | 5.645% | 1-Month LIBOR | 5.500% | 1/07/25 | BBB- | 67,248 | |
425 | Robertshaw US Holding Corp., Initial Term Loan, First Lien | 4.500% | 3-Month LIBOR | 3.500% | 2/28/25 | B3 | 392,258 | |
109 | Sabert Corporation, Initial Term Loan | 5.500% | 1-Month LIBOR | 4.500% | 12/10/26 | B | 107,537 | |
170 | Travelport LLC, Priority Debt Term Loan, (WI/DD) | TBD | TBD | TBD | TBD | B+ | 161,015 |
2
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Commercial Services & Supplies (continued) | ||||||||
$326 | West Corporation, Incremental Term Loan B1 | 4.500% | 1-Month LIBOR | 3.500% | 10/10/24 | BB+ | $304,042 | |
7,605 | Total Commercial Services & Supplies | 6,926,397 | ||||||
Communications Equipment – 1.7% (1.1% of Total Investments) | ||||||||
137 | Avaya, Inc., Term Loan B | 4.398% | 1-Month LIBOR | 4.250% | 12/15/24 | BB- | 134,567 | |
863 | CommScope, Inc., Term Loan B | 3.398% | 1-Month LIBOR | 3.250% | 4/04/26 | Ba3 | 836,269 | |
663 | Mitel US Holdings, Inc., Term Loan, First Lien | 4.648% | 1-Month LIBOR | 4.500% | 11/30/25 | B- | 546,901 | |
563 | Plantronics, Term Loan B | 2.647% | 1-Month LIBOR | 2.500% | 7/02/25 | Ba2 | 540,073 | |
378 | Riverbed Technology, Inc., Term Loan B, First Lien | 4.250% | 3-Month LIBOR | 3.250% | 4/24/22 | B2 | 340,416 | |
67 | Univision Communications, Inc., Term Loan C5 | 3.750% | 1-Month LIBOR | 2.750% | 3/15/24 | B | 64,796 | |
2,671 | Total Communications Equipment | 2,463,022 | ||||||
Construction & Engineering – 0.9% (0.6% of Total Investments) | ||||||||
158 | Pike Corp, Term Loan B | 3.285% | 1-Month LIBOR | 3.000% | 7/24/26 | BB- | 156,263 | |
1,254 | Traverse Midstream Partners, Term Loan B | 6.500% | 1-Month LIBOR | 5.500% | 9/27/24 | B | 1,161,822 | |
1,412 | Total Construction & Engineering | 1,318,085 | ||||||
Consumer Finance – 0.5% (0.3% of Total Investments) | ||||||||
728 | Verscend Technologies, Tern Loan B | 4.648% | 1-Month LIBOR | 4.500% | 8/27/25 | B+ | 716,537 | |
Containers & Packaging – 1.6% (1.0% of Total Investments) | ||||||||
339 | Berry Global, Inc., Term Loan W | 2.147% | 1-Month LIBOR | 2.000% | 10/01/22 | BBB- | 335,679 | |
741 | Berry Global, Inc., Term Loan Y | 2.147% | 1-Month LIBOR | 2.000% | 7/01/26 | BBB- | 718,136 | |
795 | Reynolds Group Holdings, Inc., Term Loan, First Lien | 1.898% | 1-Month LIBOR | 1.750% | 2/04/27 | BB+ | 781,149 | |
450 | Reynolds Group Holdings, Inc., Term Loan, First Lien | 3.398% | 1-Month LIBOR | 3.250% | 2/16/26 | B+ | 440,156 | |
2,325 | Total Containers & Packaging | 2,275,120 | ||||||
Distributors – 0.5% (0.3% of Total Investments) | ||||||||
209 | Insurance Auto Actions Inc., Term Loan | 2.438% | 1-Month LIBOR | 2.250% | 6/28/26 | BB+ | 204,067 | |
572 | SRS Distribution, Inc., Term Loan B | 3.148% | 1-Month LIBOR | 3.000% | 5/24/25 | B | 555,786 | |
781 | Total Distributors | 759,853 | ||||||
Diversified Consumer Services – 1.6% (1.0% of Total Investments) | ||||||||
1,254 | Cengage Learning Acquisitions, Inc., Term Loan B | 5.250% | 3-Month LIBOR | 4.250% | 6/07/23 | B- | 1,126,057 | |
1,166 | Refinitiv, Term Loan B | 3.398% | 1-Month LIBOR | 3.250% | 10/01/25 | BB+ | 1,150,688 | |
2,420 | Total Diversified Consumer Services | 2,276,745 | ||||||
Diversified Financial Services – 1.7% (1.1% of Total Investments) | ||||||||
420 | Blackstone CQP, Term Loan | 3.725% | 3-Month LIBOR | 3.500% | 9/30/24 | B+ | 411,399 |
3
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Diversified Financial Services (continued) | ||||||||
$990 | Ditech Holding Corporation., Term Loan B, First Lien, (5) | 0.000% | N/A | N/A | 6/30/22 | N/R | $298,287 | |
871 | Inmarsat Finance, Term Loan, First Lien | 5.500% | 1-Month LIBOR | 4.500% | 12/12/26 | B+ | 854,301 | |
335 | Lions Gate Entertainment Corp., Term Loan B | 2.398% | 1-Month LIBOR | 2.250% | 3/24/25 | Ba2 | 324,377 | |
220 | Orion Advisor Solutions, Term Loan, First Lien | 5.000% | 3-Month LIBOR | 4.000% | 9/24/27 | BB- | 217,319 | |
369 | Sotheby's, Term Loan B | 6.500% | 1-Month LIBOR | 5.500% | 1/15/27 | B+ | 367,580 | |
3,205 | Total Diversified Financial Services | 2,473,263 | ||||||
Diversified Telecommunication Services – 6.3% (3.9% of Total Investments) | ||||||||
378 | Altice France S.A., Term Loan B12 | 3.836% | 1-Month LIBOR | 3.688% | 1/31/26 | B | 367,456 | |
3,292 | CenturyLink, Inc, Term Loan B | 2.398% | 1-Month LIBOR | 2.250% | 3/15/27 | BB+ | 3,175,383 | |
3,407 | Frontier Communications Corporation, Term Loan B, (5) | 6.000% | Prime | 2.750% | 6/15/24 | N/R | 3,358,316 | |
195 | Intelsat Jackson Holdings, S.A., Term Loan B4, (5) | 8.750% | Prime | 5.500% | 1/02/24 | N/R | 196,689 | |
312 | Intelsat Jackson Holdings, S.A., Term Loan B5, (5) | 8.625% | N/A | N/A | 1/02/24 | N/R | 314,832 | |
1,365 | Numericable Group S.A., Term Loan B13 | 4.237% | 3-Month LIBOR | 4.000% | 8/14/26 | B | 1,330,232 | |
109 | Zayo Group LLC, Initial Dollar Term Loan | 3.148% | 1-Month LIBOR | 3.000% | 3/09/27 | B1 | 105,692 | |
9,058 | Total Diversified Telecommunication Services | 8,848,600 | ||||||
Electric Utilities – 0.8% (0.5% of Total Investments) | ||||||||
316 | ExGen Renewables, Term Loan | 4.000% | 3-Month LIBOR | 3.000% | 11/28/24 | BB- | 314,410 | |
249 | Pacific Gas & Electric, Term Loan, First Lien | 5.500% | 3-Month LIBOR | 4.500% | 6/23/25 | BB | 247,318 | |
572 | Vistra Operations Co., Term Loan B3 | 1.895% | 1-Month LIBOR | 1.750% | 12/31/25 | Baa3 | 560,639 | |
1,137 | Total Electric Utilities | 1,122,367 | ||||||
Electrical Equipment – 0.8% (0.5% of Total Investments) | ||||||||
723 | Avolon LLC, Term Loan B4 | 2.250% | 1-Month LIBOR | 1.500% | 2/10/27 | Baa2 | 692,606 | |
497 | Vertiv Co.,Term Loan B | 3.148% | 1-Month LIBOR | 3.000% | 3/02/27 | B+ | 490,286 | |
1,220 | Total Electrical Equipment | 1,182,892 | ||||||
Electronic Equipment, Instruments & Components – 0.3% (0.2% of Total Investments) | ||||||||
405 | TTM Technologies, Inc., Term Loan B | 2.649% | 1-Month LIBOR | 2.500% | 9/28/24 | BB+ | 398,869 | |
Entertainment – 0.5% (0.3% of Total Investments) | ||||||||
239 | AMC Entertainment, Inc., Term Loan B | 3.220% | 3-Month LIBOR | 3.000% | 4/22/26 | CCC | 135,631 | |
116 | Cineworld Group PLC, Second Amendment Dollar, Term Loan | 3.019% | 6-Month LIBOR | 2.750% | 9/20/26 | CCC | 64,939 | |
500 | Springer SBM Two GmbH, Term Loan B16 | 4.500% | 1-Month LIBOR | 3.500% | 8/14/24 | B2 | 497,621 | |
855 | Total Entertainment | 698,191 |
4
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Equity Real Estate Investment Trust – 0.7% (0.4% of Total Investments) | ||||||||
$77 | Gardner Denver, Inc., New Term Loan B | 2.898% | 1-Month LIBOR | 2.750% | 1/31/27 | BB+ | $76,569 | |
934 | Realogy Group LLC, Term Loan A | 2.398% | 1-Month LIBOR | 2.250% | 2/08/23 | BB- | 907,172 | |
1,011 | Total Equity Real Estate Investment Trust | 983,741 | ||||||
Financials – 0.1% (0.1% of Total Investments) | ||||||||
105 | Red Ventures, Term Loan B | 2.648% | 1-Month LIBOR | 2.500% | 11/08/24 | BB | 100,882 | |
Food & Staples Retailing – 1.7% (1.1% of Total Investments) | ||||||||
481 | BellRing Brands, Term Loan, First Lien | 6.000% | 1-Month LIBOR | 5.000% | 10/21/24 | B+ | 483,837 | |
81 | BJ's Wholesale Club, Inc., Term Loan, First Lien | 2.145% | 1-Month LIBOR | 2.000% | 2/03/24 | BB | 79,197 | |
1,979 | US Foods, Inc., New Term Loan | 1.898% | 1-Month LIBOR | 1.750% | 6/27/23 | BB- | 1,898,855 | |
2,541 | Total Food & Staples Retailing | 2,461,889 | ||||||
Food Products – 0.5% (0.3% of Total Investments) | ||||||||
557 | American Seafoods Group LLC, Term Loan B | 3.750% | 3-Month LIBOR | 2.750% | 8/21/23 | BB- | 554,361 | |
150 | Froneri Lux FinCo SARL, Term Loan, First Lien | 2.395% | 1-Month LIBOR | 2.250% | 1/31/27 | B1 | 144,551 | |
707 | Total Food Products | 698,912 | ||||||
Health Care Equipment & Supplies – 1.3% (0.8% of Total Investments) | ||||||||
545 | Greatbatch Ltd., New Term Loan B | 3.500% | 1-Month LIBOR | 2.500% | 10/27/22 | B+ | 540,780 | |
283 | LifeScan, Term Loan B, (DD1) | 6.234% | 3-Month LIBOR | 6.000% | 10/01/24 | B | 266,797 | |
534 | MedPlast, Term Loan, First Lien | 3.898% | 1-Month LIBOR | 3.750% | 7/02/25 | B3 | 493,208 | |
713 | Vyaire Medical, Inc., Term Loan B | 5.750% | 3-Month LIBOR | 4.750% | 4/30/25 | B3 | 533,474 | |
2,075 | Total Health Care Equipment & Supplies | 1,834,259 | ||||||
Health Care Providers & Services – 12.1% (7.6% of Total Investments) | ||||||||
1,000 | Air Medical, Term Loan B | 5.750% | 3-Month LIBOR | 4.750% | 10/02/25 | B | 971,875 | |
238 | Air Methods, Term Loan, First Lien | 4.500% | 3-Month LIBOR | 3.500% | 4/21/24 | B | 204,876 | |
483 | Ardent Health, Term Loan, First Lien | 5.500% | 1-Month LIBOR | 4.500% | 6/28/25 | B1 | 482,074 | |
931 | Brightspring Health, Term Loan B | 3.397% | 1-Month LIBOR | 3.250% | 3/05/26 | N/R | 902,773 | |
493 | Catalent Pharma Solutions, Inc., Dollar Term Loan B2 | 3.250% | 1-Month LIBOR | 2.250% | 5/17/26 | BBB- | 491,372 | |
292 | Civitas Solutions, Term Loan B | 4.400% | 1-Month LIBOR | 4.250% | 3/08/26 | B | 287,467 | |
13 | Civitas Solutions, Term Loan C | 4.400% | 1-Month LIBOR | 4.250% | 3/08/26 | B | 13,122 | |
200 | DaVita, Inc., Term Loan B | 1.898% | 1-Month LIBOR | 1.750% | 8/12/26 | BBB- | 196,232 | |
914 | Envision Healthcare Corporation, Initial Term Loan | 3.898% | 1-Month LIBOR | 3.750% | 10/10/25 | Caa1 | 656,495 | |
67 | HCA, Inc., Term Loan B13 | 1.898% | 1-Month LIBOR | 1.750% | 3/18/26 | BBB- | 66,762 | |
464 | Heartland Dental Care, Inc., Term Loan, First Lien | 3.648% | 1-Month LIBOR | 3.500% | 4/30/25 | B3 | 426,923 | |
481 | InnovaCare, Initial Term Loan | 6.750% | 3-Month LIBOR | 5.750% | 11/06/26 | B+ | 482,155 | |
562 | Jordan Health, Initial Term Loan, First Lien | 5.270% | 3-Month LIBOR | 5.000% | 5/15/25 | Caa1 | 482,559 |
5
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Health Care Providers & Services (continued) | ||||||||
$1,492 | Kindred at Home Hospice, Term Loan B, First Lien | 3.438% | 1-Month LIBOR | 3.250% | 7/02/25 | B1 | $1,464,144 | |
1,971 | Lifepoint Health, Inc., New Term Loan B | 3.898% | 1-Month LIBOR | 3.750% | 11/16/25 | B1 | 1,916,739 | |
4,017 | Pharmaceutical Product Development, Inc., Term Loan B | 3.500% | 1-Month LIBOR | 2.500% | 8/18/22 | Ba2 | 3,994,552 | |
103 | Quorum Health Corp, Term Loan, (5) | 9.250% | 3-Month LIBOR | 8.250% | 4/29/22 | N/R | 96,018 | |
1,955 | Select Medical Corporation, Term Loan B | 2.780% | 3-Month LIBOR | 2.500% | 3/06/25 | Ba2 | 1,912,802 | |
1,258 | Surgery Center Holdings Inc., Initial Term Loan | 4.250% | 1-Month LIBOR | 3.250% | 9/03/24 | B2 | 1,196,184 | |
1,130 | Team Health, Inc., Initial Term Loan | 3.750% | 1-Month LIBOR | 2.750% | 2/06/24 | B | 925,690 | |
18,064 | Total Health Care Providers & Services | 17,170,814 | ||||||
Health Care Technology – 2.9% (1.8% of Total Investments) | ||||||||
1,261 | Emdeon, Inc., Term Loan | 3.500% | 3-Month LIBOR | 2.500% | 3/01/24 | B+ | 1,233,398 | |
1,402 | Onex Carestream Finance LP, New Extended Term Loan, First Lien | 7.750% | 3-Month LIBOR | 6.750% | 5/05/23 | N/R | 1,356,716 | |
879 | Onex Carestream Finance LP, New Extended Term Loan, Second Lien, (cash 6.750%, PIK 8.000%) | 6.750% | 3-Month LIBOR | 4.500% | 8/05/23 | CCC+ | 663,599 | |
844 | Zelis, Term Loan B | 4.898% | 1-Month LIBOR | 4.750% | 9/30/26 | B | 839,711 | |
4,386 | Total Health Care Technology | 4,093,424 | ||||||
Hotels, Restaurants & Leisure – 13.5% (8.5% of Total Investments) | ||||||||
593 | 24 Hour Fitness Worldwide, Inc., DIP Term Loan, (5) | 11.000% | 3-Month LIBOR | 10.000% | 6/15/21 | N/R | 464,143 | |
716 | 24 Hour Fitness Worldwide, Inc., Term Loan B, (5) | 0.000% | N/A | N/A | 5/31/25 | D | 16,478 | |
217 | Boyd Gaming Corporation, Refinancing Term Loan B | 2.344% | 1-Week LIBOR | 2.250% | 9/15/23 | BB- | 211,808 | |
2,159 | Burger King Corporation, Term Loan B4 | 1.898% | 1-Month LIBOR | 1.750% | 11/19/26 | BB+ | 2,076,484 | |
375 | Caesars Resort Collection, Term Loan | 4.649% | 3-Month LIBOR | 4.500% | 7/20/25 | B+ | 364,103 | |
3,844 | Caesars Resort Collection, Term Loan, First Lien | 2.898% | 1-Month LIBOR | 2.750% | 12/22/24 | B+ | 3,615,119 | |
274 | Carnival Corp, Term Loan B | 8.500% | 1-Month LIBOR | 7.500% | 6/30/25 | BB+ | 277,467 | |
1,097 | CCM Merger, Inc., Term Loan B | 4.500% | Prime | 1.250% | 8/09/21 | BB | 1,092,205 | |
1,600 | CityCenter Holdings LLC, Term Loan B | 3.000% | 1-Month LIBOR | 2.250% | 4/18/24 | B+ | 1,509,742 | |
1,073 | ClubCorp Operations, Inc., Term Loan B | 2.970% | 3-Month LIBOR | 2.750% | 9/18/24 | B- | 907,822 | |
1,443 | Equinox Holdings, Inc., Term Loan B1 | 4.000% | 3-Month LIBOR | 3.000% | 3/08/24 | Caa1 | 1,061,108 | |
378 | Golden Nugget LLC, Initial Term Loan B | 3.250% | 1-Month LIBOR | 2.500% | 10/04/23 | B | 334,865 | |
127 | Hilton Hotels, Term Loan B2 | 1.899% | 1-Month LIBOR | 1.750% | 6/21/26 | BBB- | 121,057 | |
856 | Life Time Fitness, Inc., Term Loan B | 3.750% | 3-Month LIBOR | 2.750% | 6/10/22 | B | 793,300 | |
439 | PCI Gaming, Term Loan, First Lien | 2.648% | 1-Month LIBOR | 2.500% | 5/31/26 | BBB- | 425,412 | |
982 | Penn National Gaming, Inc., Term Loan B | 3.000% | 1-Month LIBOR | 2.250% | 10/15/25 | BB- | 951,094 |
6
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Hotels, Restaurants & Leisure (continued) | ||||||||
$2,239 | Scientific Games Corp., Initial Term Loan B5 | 2.898% | 1-Month LIBOR | 2.750% | 8/14/24 | B+ | $2,088,983 | |
236 | Seaworld Parks and Entertainment, Inc., Term Loan B5 | 3.750% | 1-Month LIBOR | 3.000% | 3/31/24 | B2 | 221,336 | |
1,184 | Stars Group Holdings, Term Loan B | 3.720% | 3-Month LIBOR | 3.500% | 7/10/25 | BBB- | 1,184,913 | |
1,465 | Station Casinos LLC, Term Loan B | 2.500% | 1-Month LIBOR | 2.250% | 2/08/27 | BB- | 1,408,554 | |
21,297 | Total Hotels, Restaurants & Leisure | 19,125,993 | ||||||
Household Durables – 0.5% (0.3% of Total Investments) | ||||||||
240 | Apex Tool Group LLC, Third Amendment Term Loan | 6.500% | 1-Month LIBOR | 5.250% | 8/21/24 | B3 | 228,199 | |
48 | Serta Simmons Holdings LLC, First Out Term Loan | 8.305% | 1-Month LIBOR | 7.500% | 6/01/27 | N/R | 47,711 | |
217 | Serta Simmons Holdings LLC, Second Out Term Loan | 8.500% | 1-Month LIBOR | 7.500% | 6/01/27 | N/R | 186,269 | |
175 | Weber-Stephen Products LLC, Term Loan B, (WI/DD) | TBD | TBD | TBD | TBD | B1 | 173,579 | |
680 | Total Household Durables | 635,758 | ||||||
Household Products – 0.7% (0.4% of Total Investments) | ||||||||
579 | KIK Custom Products Inc., Term Loan B2 | 5.000% | 3-Month LIBOR | 4.000% | 5/15/23 | B1 | 574,756 | |
367 | Reynolds Group Holdings, Inc., Term Loan, First Lien | 2.898% | Prime | 1.750% | 2/05/23 | B+ | 361,266 | |
946 | Total Household Products | 936,022 | ||||||
Industrial Conglomerates – 0.5% (0.3% of Total Investments) | ||||||||
731 | Education Adisory Board, Term Loan, First Lien | 4.750% | 6-Month LIBOR | 3.750% | 9/29/24 | B2 | 711,141 | |
Insurance – 1.4% (0.9% of Total Investments) | ||||||||
882 | Acrisure LLC, Term Loan B | 3.648% | 1-Month LIBOR | 3.500% | 2/15/27 | B | 852,504 | |
991 | Hub International Holdings, Inc., Term Loan B | 3.215% | 3-Month LIBOR | 3.000% | 4/25/25 | B | 955,134 | |
175 | Ryan Specialty Group LLC, Term Loan B | 4.000% | 1-Month LIBOR | 3.250% | 9/01/27 | B1 | 174,016 | |
2,048 | Total Insurance | 1,981,654 | ||||||
Interactive Media & Services – 2.6% (1.6% of Total Investments) | ||||||||
2,745 | Rackspace Hosting, Inc., Refinancing Term Loan B, First Lien | 4.000% | 3-Month LIBOR | 3.000% | 11/03/23 | B+ | 2,690,167 | |
983 | WeddingWire, Inc., Term Loan | 4.713% | 2-Month LIBOR | 4.500% | 12/21/25 | B+ | 926,006 | |
3,728 | Total Interactive Media & Services | 3,616,173 | ||||||
Internet & Direct Marketing Retail – 0.5% (0.3% of Total Investments) | ||||||||
750 | 1-800 Contacts, Term Loan, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | B | 742,654 |
7
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Internet Software & Services – 3.8% (2.4% of Total Investments) | ||||||||
$960 | Ancestry.com, Inc., Term Loan, First Lien | 4.750% | 1-Month LIBOR | 3.750% | 10/19/23 | B | $960,138 | |
415 | Blue Yonder, Term Loan B | 4.000% | 1-Month LIBOR | 3.000% | 1/30/26 | B- | 407,794 | |
328 | Dynatrace LLC, Term Loan, First Lien | 2.398% | 1-Month LIBOR | 2.250% | 8/23/25 | BB- | 322,982 | |
548 | Ellucian, Term Loan, First Lien | 4.500% | 3-Month LIBOR | 3.750% | 10/07/27 | B | 539,865 | |
1,388 | Epicor Software Corporation, Term Loan, First Lien | 5.250% | 1-Month LIBOR | 4.250% | 7/31/27 | B2 | 1,384,547 | |
1,714 | Greeneden U.S. Holdings II LLC, Term Loan B | 3.398% | 1-Month LIBOR | 3.250% | 10/08/27 | B- | 1,690,561 | |
5,353 | Total Internet Software & Services | 5,305,887 | ||||||
IT Services – 4.6% (2.9% of Total Investments) | ||||||||
387 | DTI Holdings, Inc., Replacement Term Loan B1 | 5.750% | 3-Month LIBOR | 4.750% | 9/30/23 | CCC+ | 343,783 | |
390 | GTT Communications, Inc., Term Loan, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | B3 | 335,687 | |
485 | KBR, Inc., New Term Loan B | 2.898% | 1-Month LIBOR | 2.750% | 2/07/27 | Ba1 | 480,212 | |
210 | Neustar, Inc., Term Loan B4, First Lien | 4.500% | 1-Month LIBOR | 3.500% | 8/08/24 | B+ | 198,232 | |
1,244 | Sabre, Inc., Term Loan B | 2.750% | 1-Month LIBOR | 2.000% | 2/22/24 | Ba3 | 1,177,393 | |
1,500 | Syniverse Holdings, Inc., Initial Term Loan, Second Lien | 10.000% | 3-Month LIBOR | 9.000% | 3/11/24 | CCC- | 827,580 | |
1,475 | Syniverse Holdings, Inc., Term Loan C | 6.000% | 3-Month LIBOR | 5.000% | 3/09/23 | CCC+ | 1,157,497 | |
1,457 | West Corporation, Term Loan B | 5.000% | 1-Month LIBOR | 4.000% | 10/10/24 | BB- | 1,360,850 | |
718 | WEX, Inc., Term Loan B3 | 2.398% | 1-Month LIBOR | 2.250% | 5/17/26 | Ba2 | 695,085 | |
7,866 | Total IT Services | 6,576,319 | ||||||
Life Sciences Tools & Services – 1.0% (0.6% of Total Investments) | ||||||||
1,464 | Parexel International Corp., Term Loan B | 2.898% | 1-Month LIBOR | 2.750% | 9/27/24 | B2 | 1,406,985 | |
Machinery – 2.0% (1.3% of Total Investments) | ||||||||
750 | Alliance Laundry Systems LLC, Term Loan B | 4.250% | 3-Month LIBOR | 3.500% | 10/08/27 | B | 744,844 | |
690 | Gardner Denver, Inc., Extended Term Loan B | 1.898% | 1-Month LIBOR | 1.750% | 2/28/27 | Ba2 | 668,559 | |
614 | Gates Global LLC, Term Loan B | 3.750% | 1-Month LIBOR | 2.750% | 4/01/24 | B1 | 603,512 | |
22 | NN, Inc., Extended 2017 Incremental Term Loan | 5.898% | 1-Month LIBOR | 5.750% | 10/19/22 | B+ | 21,521 | |
46 | NN, Inc., Term Loan | 6.500% | 1-Month LIBOR | 5.750% | 10/19/22 | B+ | 46,259 | |
750 | Thyssenkrupp Elevator, Term Loan B | 4.570% | 6-Month LIBOR | 4.250% | 7/31/27 | B1 | 740,160 | |
2,872 | Total Machinery | 2,824,855 | ||||||
Marine – 0.3% (0.2% of Total Investments) | ||||||||
965 | Harvey Gulf International Marine, Inc., Exit Term Loan | 7.005% | 3-Month LIBOR | 5.000% | 7/02/23 | B- | 470,609 |
8
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Media – 15.4% (9.7% of Total Investments) | ||||||||
$270 | Affinion Group Holdings, Inc., Consenting Term Loan, (cash 1.232%, PIK 1.750%) | 2.982% | 3-Month LIBOR | 1.750% | 4/10/24 | N/R | $178,292 | |
68 | Catalina Marketing Corporation, First Out Term Loan | 8.500% | 1-Month LIBOR | 7.500% | 2/15/23 | N/R | 42,839 | |
104 | Catalina Marketing Corporation, Last Out Term Loan, (cash 5.750%, PIK 9.500%) | 5.750% | 1-Month LIBOR | 4.750% | 8/15/23 | N/R | 16,889 | |
103 | CBS Radio, Inc., Term Loan B2 | 2.652% | 1-Month LIBOR | 2.500% | 11/17/24 | BB- | 99,665 | |
219 | Cequel Communications LLC, Term Loan B | 2.398% | 1-Month LIBOR | 2.250% | 1/15/26 | BB | 212,550 | |
968 | Cineworld Group PLC, Term Loan B | 2.769% | 6-Month LIBOR | 2.500% | 2/28/25 | CCC | 548,760 | |
2,278 | Clear Channel Outdoor Holdings, Inc., Term Loan B | 3.714% | 3-Month LIBOR | 3.500% | 8/21/26 | B1 | 2,083,097 | |
717 | CSC Holdings LLC, Refinancing Term Loan | 2.398% | 1-Month LIBOR | 2.250% | 7/17/25 | BB | 694,578 | |
837 | CSC Holdings, LLC, Term Loan B5 | 2.648% | 1-Month LIBOR | 2.500% | 4/15/27 | Ba3 | 812,703 | |
149 | Cumulus Media, Inc., Term Loan B | 4.750% | 3-Month LIBOR | 3.750% | 3/31/26 | B | 142,048 | |
493 | EW Scripps, Term Loan B2 | 2.648% | 1-Month LIBOR | 2.500% | 5/01/26 | BB+ | 476,981 | |
415 | Gray Television, Inc., Term Loan B2 | 2.399% | 1-Month LIBOR | 2.250% | 2/07/24 | BB+ | 405,564 | |
241 | Houghton Mifflin Harcourt, Term Loan | 7.250% | 1-Month LIBOR | 6.250% | 11/22/24 | B | 225,285 | |
1,447 | iHeartCommunications Inc., Term Loan B | 3.148% | 1-Month LIBOR | 3.000% | 5/01/26 | B+ | 1,362,266 | |
677 | IMG Worldwide, Inc., Term Loan B | 2.900% | 1-Month LIBOR | 2.750% | 5/16/25 | B3 | 580,972 | |
868 | Intelsat Jackson Holdings, S.A., DIP Term Loan, (5), (6) | 5.050% | 3-Month LIBOR | 5.500% | 7/13/21 | N/R | 884,853 | |
2,437 | Intelsat Jackson Holdings, S.A., Term Loan B, (DD1), (5) | 8.000% | Prime | 4.750% | 11/27/23 | N/R | 2,456,232 | |
402 | LCPR Loan Financing LLC, Term Loan B | 5.148% | 1-Month LIBOR | 5.000% | 10/15/26 | BB- | 402,586 | |
2,659 | McGraw-Hill Education Holdings LLC, Term Loan B | 5.000% | 1-Week LIBOR | 4.000% | 5/04/22 | BB+ | 2,413,258 | |
199 | Meredith Corporation, Incremental Term Loan B | 5.250% | 1-Month LIBOR | 4.250% | 1/31/25 | BB- | 196,175 | |
939 | Meredith Corporation, Term Loan B2 | 2.648% | 1-Month LIBOR | 2.500% | 1/31/25 | BB- | 910,721 | |
883 | Metro-Goldwyn-Mayer, Inc., Term Loan, First Lien | 2.645% | 1-Month LIBOR | 2.500% | 7/03/25 | BB- | 848,524 | |
400 | Metro-Goldwyn-Mayer, Inc., Term Loan, Second Lien | 5.500% | 1-Month LIBOR | 4.500% | 7/06/26 | B3 | 391,000 | |
576 | Nexstar Broadcasting, Inc., Term Loan B | 2.899% | 1-Month LIBOR | 2.750% | 9/19/26 | BB | 563,118 | |
987 | Nexstar Broadcasting, Inc., Term Loan B3 | 2.402% | 1-Month LIBOR | 2.250% | 1/17/24 | BB | 963,078 | |
616 | Sinclair Television Group, Term Loan B2 | 2.400% | 1-Month LIBOR | 2.250% | 1/03/24 | BB+ | 598,577 | |
346 | Sinclair Television Group, Term Loan B2 | 2.650% | 1-Month LIBOR | 2.500% | 9/30/26 | BB+ | 337,115 | |
745 | Virgin Media Bristol LLC, Term Loan, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | Ba3 | 731,963 | |
1,221 | WideOpenWest Finance LLC, Term Loan B | 4.250% | 1-Month LIBOR | 3.250% | 8/19/23 | B | 1,200,292 |
9
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Media (continued) | ||||||||
$1,097 | Ziggo B.V., Term Loan | 2.648% | 1-Month LIBOR | 2.500% | 4/30/28 | BB | $1,055,348 | |
23,361 | Total Media | 21,835,329 | ||||||
Multiline Retail – 0.8% (0.5% of Total Investments) | ||||||||
1,409 | Belk, Inc., Term Loan, First Lien | 7.750% | 3-Month LIBOR | 6.750% | 7/31/25 | Caa1 | 491,354 | |
609 | EG America LLC, Term Loan, First Lien | 4.220% | 3-Month LIBOR | 4.000% | 2/05/25 | B- | 586,628 | |
2,018 | Total Multiline Retail | 1,077,982 | ||||||
Oil, Gas & Consumable Fuels – 3.6% (2.3% of Total Investments) | ||||||||
721 | BCP Renaissance Parent, Term Loan B | 4.500% | 2-Month LIBOR | 3.500% | 11/01/24 | B+ | 664,757 | |
846 | Buckeye Partners, Term Loan, First Lien | 2.897% | 1-Month LIBOR | 2.750% | 11/01/26 | BBB- | 832,159 | |
1,253 | California Resources Corporation, DIP Term Loan, (5) | 10.000% | 1-Month LIBOR | 9.000% | 1/15/21 | Ba1 | 1,240,702 | |
328 | California Resources Corporation, Term Loan, (5) | 0.000% | N/A | N/A | 12/31/21 | N/R | 8,403 | |
1,906 | California Resources Corporation, Term Loan B, (5) | 0.000% | N/A | N/A | 12/31/22 | N/R | 715,150 | |
443 | Fieldwood Energy LLC, DIP Term Loan, (5), (6) | 9.750% | 1-Month LIBOR | 8.750% | 8/05/21 | N/R | 445,134 | |
3,112 | Fieldwood Energy LLC, Exit Term Loan, (DD1), (5) | 0.000% | N/A | N/A | 4/11/22 | N/R | 684,687 | |
1,811 | Fieldwood Energy LLC, Exit Term Loan, Second Lien, (5) | 0.000% | N/A | N/A | 4/11/23 | N/R | 2,771 | |
593 | Gulf Finance, LLC, Term Loan B | 6.250% | 1-Month LIBOR | 5.250% | 8/25/23 | CCC+ | 422,921 | |
265 | Peabody Energy Corporation, Term Loan B | 2.898% | 1-Month LIBOR | 2.750% | 3/31/25 | B3 | 85,275 | |
11,278 | Total Oil, Gas & Consumable Fuels | 5,101,959 | ||||||
Paper & Forest Products – 0.5% (0.3% of Total Investments) | ||||||||
710 | Asplundh, Term Loan B | 2.640% | 1-Month LIBOR | 2.500% | 9/07/27 | N/R | 709,262 | |
Personal Products – 1.2% (0.8% of Total Investments) | ||||||||
517 | Coty, Inc., Term Loan A | 1.890% | 1-Month LIBOR | 1.750% | 4/05/23 | B | 472,722 | |
131 | Coty, Inc., Term Loan B | 2.390% | 1-Month LIBOR | 2.250% | 4/05/25 | B | 115,309 | |
2,174 | Revlon Consumer Products Corporation, Term Loan B, First Lien, (DD1), (7) | 4.250% | 3-Month LIBOR | 3.500% | 9/07/23 | C | 1,145,049 | |
2,822 | Total Personal Products | 1,733,080 | ||||||
Pharmaceuticals – 5.2% (3.3% of Total Investments) | ||||||||
1,654 | Concordia Healthcare Corp, Exit Term Loan | 6.500% | 1-Month LIBOR | 5.500% | 9/06/24 | B- | 1,618,106 | |
322 | Elanco Animal Health, Term Loan B | 1.899% | 1-Month LIBOR | 1.750% | 8/01/27 | Baa3 | 315,767 | |
1,335 | Endo Health Solutions, Inc., Term Loan B | 5.000% | 3-Month LIBOR | 4.250% | 4/29/24 | B+ | 1,272,372 | |
626 | Mallinckrodt International Finance S.A., Term Loan B, First Lien, (5) | 5.500% | 3-Month LIBOR | 4.750% | 9/24/24 | D | 579,623 |
10
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Pharmaceuticals (continued) | ||||||||
$374 | Mallinckrodt International Finance S.A., Term Loan, First Lien, (5) | 5.750% | 3-Month LIBOR | 5.000% | 2/24/25 | D | $346,074 | |
500 | Milano, Term Loan B | 4.750% | 3-Month LIBOR | 4.000% | 10/01/27 | B+ | 492,917 | |
895 | Valeant Pharmaceuticals International, Inc., Term Loan B | 2.899% | 1-Month LIBOR | 2.750% | 11/27/25 | BB | 876,263 | |
1,921 | Valeant Pharmaceuticals International, Inc., Term Loan, First Lien | 3.149% | 1-Month LIBOR | 3.000% | 6/02/25 | BB | 1,879,149 | |
7,627 | Total Pharmaceuticals | 7,380,271 | ||||||
Professional Services – 1.5% (0.9% of Total Investments) | ||||||||
971 | Ceridian HCM Holding, Inc., Term Loan B | 2.594% | 1-Week LIBOR | 2.500% | 4/30/25 | B+ | 941,342 | |
322 | Creative Artists Agency, LLC, Term Loan B | 3.898% | 1-Month LIBOR | 3.750% | 11/26/26 | B | 310,518 | |
30 | Dun & Bradstreet Corp.,Term Loan, First Lien | 3.906% | 1-Month LIBOR | 3.750% | 2/08/26 | BB+ | 29,452 | |
821 | Nielsen Finance LLC, Term Loan B4 | 2.147% | 1-Month LIBOR | 2.000% | 10/04/23 | BBB- | 803,781 | |
2,144 | Total Professional Services | 2,085,093 | ||||||
Real Estate Management & Development – 1.6% (1.0% of Total Investments) | ||||||||
1,345 | GGP, Initial Term Loan A2 | 3.148% | 1-Month LIBOR | 3.000% | 8/24/23 | BB+ | 1,188,899 | |
1,000 | TNT Crane and Rigging, Inc., Exit Term Loan, (WI/DD) | TBD | TBD | TBD | TBD | B+ | 1,025,000 | |
2,345 | Total Real Estate Management & Development | 2,213,899 | ||||||
Road & Rail – 3.1% (2.0% of Total Investments) | ||||||||
373 | Avolon LLC, Term Loan B3 | 2.500% | 1-Month LIBOR | 1.750% | 1/15/25 | Baa2 | 360,225 | |
731 | Ceva Group PLC, Term Loan B | 5.220% | 3-Month LIBOR | 5.000% | 8/03/25 | B+ | 692,202 | |
995 | Genesee & Wyoming Inc., Term Loan, First Lien | 2.220% | 3-Month LIBOR | 2.000% | 12/30/26 | BB+ | 975,543 | |
430 | Hertz Corporation, Term Loan, (WI/DD), (5) | TBD | TBD | TBD | TBD | N/R | 399,900 | |
463 | Hertz Corporation, Term Loan B1, (WI/DD), (5) | TBD | TBD | TBD | TBD | N/R | 434,054 | |
646 | Hertz Corporation, The DIP Term Loan | 7.463% | 3-Month LIBOR | 7.250% | 12/31/20 | N/R | 645,860 | |
884 | Quality Distribution, Incremental Term Loan, First Lien | 6.500% | 3-Month LIBOR | 5.500% | 8/18/22 | B- | 855,800 | |
29 | Savage Enterprises LLC, Term Loan B | 3.150% | 1-Month LIBOR | 3.000% | 8/01/25 | BB | 28,208 | |
4,551 | Total Road & Rail | 4,391,792 | ||||||
Semiconductors & Semiconductor Equipment – 1.2% (0.8% of Total Investments) | ||||||||
440 | Cabot Microelectronics, Term Loan B1 | 2.188% | 1-Month LIBOR | 2.000% | 11/15/25 | N/R | 435,211 | |
1,049 | Lumileds, Term Loan B, (DD1) | 4.500% | 6-Month LIBOR | 3.500% | 6/30/24 | CCC | 497,039 | |
136 | Microchip Technology, Inc., Term Loan B | 2.150% | 1-Month LIBOR | 2.000% | 5/29/25 | Baa3 | 135,047 | |
706 | ON Semiconductor Corporation, New Replacement Term Loan B4 | 2.148% | 1-Month LIBOR | 2.000% | 9/19/26 | BB+ | 692,394 | |
2,331 | Total Semiconductors & Semiconductor Equipment | 1,759,691 |
11
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Software – 10.8% (6.8% of Total Investments) | ||||||||
$445 | Autodata Solutions, Term Loan, First Lien | 3.645% | 1-Month LIBOR | 3.500% | 5/30/26 | BB- | $433,329 | |
841 | Blackboard, Inc., Term Loan B5, First Lien | 7.000% | 3-Month LIBOR | 6.000% | 6/30/24 | B | 815,994 | |
993 | DiscoverOrg LLC, Term Loan B | 3.898% | 1-Month LIBOR | 3.750% | 2/01/26 | B+ | 979,686 | |
180 | Globallogic Holdings, Inc., Incremental Term Loan B2 | 4.500% | 1-Month LIBOR | 3.750% | 9/14/27 | B | 176,850 | |
118 | Greenway Health, Term Loan, First Lien | 4.750% | 3-Month LIBOR | 3.750% | 2/16/24 | B- | 105,815 | |
1,250 | Infoblox, Term Loan, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | B- | 1,232,188 | |
1,170 | Informatica LLC, Term Loan, First Lien | 3.398% | 1-Month LIBOR | 3.250% | 2/14/27 | B1 | 1,133,751 | |
840 | McAfee LLC, Term Loan B | 3.895% | 1-Month LIBOR | 3.750% | 9/29/24 | BB | 833,340 | |
404 | Micro Focus International PLC, New Term Loan | 2.648% | 1-Month LIBOR | 2.500% | 6/21/24 | BB- | 382,426 | |
2,726 | Micro Focus International PLC, Term Loan B | 2.648% | 1-Month LIBOR | 2.500% | 6/21/24 | BB | 2,582,618 | |
455 | Micro Focus International PLC, Term Loan B4 | 5.250% | 3-Month LIBOR | 4.250% | 6/05/25 | BB | 453,807 | |
616 | Misys, New Term Loan, First Lien | 4.500% | 3-Month LIBOR | 3.500% | 6/13/24 | BB- | 583,225 | |
124 | Mitchell International, Inc., Initial Term Loan, First Lien | 3.398% | 1-Month LIBOR | 3.250% | 11/29/24 | B2 | 119,018 | |
133 | Mitchell International, Inc., Initial Term Loan, Second Lien | 7.398% | 1-Month LIBOR | 7.250% | 11/30/25 | CCC | 127,667 | |
446 | Perforce Software Inc., Term Loan, First Lien | 3.898% | 1-Month LIBOR | 3.750% | 7/01/26 | B- | 435,246 | |
70 | Skillsoft, First-Out Rolled Up Exit Term Loan | 8.500% | 3-Month LIBOR | 7.500% | 4/28/21 | N/R | 70,371 | |
434 | Skillsoft, Takeback Second-Out Term Loan | 8.500% | 3-Month LIBOR | 7.500% | 4/27/25 | B- | 431,171 | |
72 | Skillsoft, Takeback Second-Out Term Loan | 8.500% | 3-Month LIBOR | 7.500% | 12/27/24 | B+ | 72,029 | |
733 | SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., New Term Loan B3 | 1.898% | 1-Month LIBOR | 1.750% | 4/16/25 | BB+ | 714,323 | |
515 | SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., New Term Loan B4 | 1.898% | 1-Month LIBOR | 1.750% | 4/16/25 | BB+ | 501,862 | |
980 | SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., Term Loan B5 | 1.898% | 1-Month LIBOR | 1.750% | 4/16/25 | BB+ | 954,359 | |
258 | Thomson Reuters IP & S, Term Loan B | 3.148% | 1-Month LIBOR | 3.000% | 10/31/26 | B | 251,813 | |
446 | TIBCO Software, Inc., Term Loan, First Lien | 3.900% | 1-Month LIBOR | 3.750% | 7/03/26 | B+ | 433,652 | |
717 | Ultimate Software, Incremental Term Loan | 4.750% | 3-Month LIBOR | 4.000% | 5/03/26 | B1 | 714,560 | |
495 | Ultimate Software, Term Loan, First Lien | 3.895% | 1-Month LIBOR | 3.750% | 5/03/26 | B1 | 487,506 | |
247 | Xperi Holding Corp, Term Loan B | 4.148% | 1-Month LIBOR | 4.000% | 6/01/25 | BB- | 239,366 | |
15,708 | Total Software | 15,265,972 | ||||||
Specialty Retail – 2.6% (1.6% of Total Investments) | ||||||||
500 | Academy, LTD., Term Loan, First Lien, (WI/DD) | TBD | TBD | TBD | TBD | B | 495,000 | |
464 | Petco Animal Supplies, Inc., Term Loan B1 | 4.250% | 3-Month LIBOR | 3.250% | 1/26/23 | B3 | 433,174 |
12
Principal Amount (000) | Description (1) | Coupon (2) | Reference Rate (2) | Spread (2) | Maturity (3) | Ratings (4) | Value | |
Specialty Retail (continued) | ||||||||
$905 | Petsmart Inc., Term Loan B | 4.000% | 3-Month LIBOR | 3.000% | 3/11/22 | B | $902,754 | |
1,621 | Petsmart Inc., Term Loan B, First Lien | 4.500% | 3-Month LIBOR | 3.500% | 3/11/22 | B | 1,607,378 | |
204 | Staples, Inc., Term Loan, (WI/DD) | TBD | TBD | TBD | TBD | B | 188,531 | |
3,694 | Total Specialty Retail | 3,626,837 | ||||||
Technology Hardware, Storage & Peripherals – 3.7% (2.3% of Total Investments) | ||||||||
750 | Ahead, Term Loan B | 6.000% | 3-Month LIBOR | 5.000% | 10/16/27 | B1 | 721,249 | |
298 | BMC Software, Inc., Term Loan B | 4.398% | 1-Month LIBOR | 4.250% | 10/02/25 | B2 | 290,695 | |
676 | Conduent, Inc., Term Loan A | 1.898% | 1-Month LIBOR | 1.750% | 12/07/22 | BB- | 646,460 | |
1,484 | Dell International LLC, Refinancing Term Loan B1 | 2.750% | 1-Month LIBOR | 2.000% | 9/19/25 | Baa3 | 1,470,873 | |
396 | NCR Corporation, Term Loan B | 2.650% | 1-Month LIBOR | 2.500% | 8/28/26 | BB+ | 384,781 | |
265 | Tech Data Corporation, Asset Based Term Loan | 3.652% | 1-Month LIBOR | 3.500% | 7/01/25 | BBB- | 265,265 | |
852 | Tempo Acquisition, LLC, Extended Term Loan B | 3.750% | 1-Month LIBOR | 3.250% | 10/31/26 | B1 | 825,999 | |
595 | Western Digital, Term Loan B | 1.898% | 1-Month LIBOR | 1.750% | 4/29/23 | BBB- | 591,633 | |
5,316 | Total Technology Hardware, Storage & Peripherals | 5,196,955 | ||||||
Trading Companies & Distributors – 0.4% (0.3% of Total Investments) | ||||||||
197 | Hayward Industries, Inc., Initial Term Loan, First Lien | 3.648% | 1-Month LIBOR | 3.500% | 8/04/24 | B | 192,372 | |
387 | Univar, Inc., Term Loan B | 2.398% | 1-Month LIBOR | 2.250% | 7/01/24 | BB+ | 379,582 | |
584 | Total Trading Companies & Distributors | 571,954 | ||||||
Transportation Infrastructure – 0.3% (0.2% of Total Investments) | ||||||||
491 | Atlantic Aviation FBO Inc., Term Loan | 3.900% | 1-Month LIBOR | 3.750% | 12/06/25 | BB- | 481,835 | |
Wireless Telecommunication Services – 0.2% (0.1% of Total Investments) | ||||||||
495 | Windstream Corporation, Term Loan, (5) | 5.087% | Prime | 3.000% | 4/24/21 | N/R | 302,774 | |
$213,470 | Total Variable Rate Senior Loan Interests (cost $207,625,432) | 192,487,882 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
CORPORATE BONDS – 15.6% (9.8% of Total Investments) | ||||||||
Aerospace & Defense – 0.6% (0.4% of Total Investments) | ||||||||
$510 | Bombardier Inc, 144A | 5.750% | 3/15/22 | B | $484,500 | |||
350 | Bombardier Inc, 144A | 6.000% | 10/15/22 | B | 317,625 | |||
860 | Total Aerospace & Defense | 802,125 | ||||||
Auto Components – 0.9% (0.6% of Total Investments) | ||||||||
730 | Adient Global Holdings Ltd, 144A | 4.875% | 8/15/26 | B | 698,887 | |||
530 | Adient US LLC, 144A | 9.000% | 4/15/25 | Ba3 | 582,841 | |||
1,260 | Total Auto Components | 1,281,728 |
13
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
Chemicals – 0.2% (0.1% of Total Investments) | ||||||||
$230 | Olin Corp, 144A | 9.500% | 6/01/25 | BB- | $272,003 | |||
Communications Equipment – 1.6% (1.0% of Total Investments) | ||||||||
2,309 | Intelsat Jackson Holdings SA, (5) | 5.500% | 8/01/23 | N/R | 1,353,651 | |||
1,460 | Intelsat Jackson Holdings SA, 144A, (5) | 9.750% | 7/15/25 | N/R | 912,500 | |||
3,769 | Total Communications Equipment | 2,266,151 | ||||||
Diversified Financial Services – 0.4% (0.2% of Total Investments) | ||||||||
560 | PetSmart Inc, 144A | 7.125% | 3/15/23 | CCC+ | 553,000 | |||
Diversified Telecommunication Services – 0.7% (0.5% of Total Investments) | ||||||||
375 | Avaya Inc, 144A | 6.125% | 9/15/28 | BB- | 384,844 | |||
415 | Consolidated Communications Inc | 6.500% | 10/01/22 | CCC+ | 415,000 | |||
220 | Windstream Escrow LLC / Windstream Escrow Finance Corp, 144A | 7.750% | 8/15/28 | B | 212,575 | |||
1,010 | Total Diversified Telecommunication Services | 1,012,419 | ||||||
Electric Utilities – 4.2% (2.7% of Total Investments) | ||||||||
1,175 | Bruce Mansfield Unit 1 2007 Pass-Through Trust, (5) | 6.850% | 6/01/34 | N/R | 1,469 | |||
280 | Pacific Gas and Electric Co | 3.850% | 11/15/23 | BBB- | 294,621 | |||
178 | Pacific Gas and Electric Co | 3.450% | 7/01/25 | BBB- | 184,866 | |||
1,335 | Pacific Gas and Electric Co | 3.150% | 1/01/26 | BBB- | 1,363,556 | |||
935 | Pacific Gas and Electric Co | 3.300% | 12/01/27 | BBB- | 945,101 | |||
178 | Pacific Gas and Electric Co | 3.750% | 7/01/28 | BBB- | 182,394 | |||
203 | Pacific Gas and Electric Co | 4.550% | 7/01/30 | BBB- | 217,300 | |||
1,335 | Pacific Gas and Electric Co | 4.500% | 7/01/40 | BBB- | 1,371,941 | |||
915 | Pacific Gas and Electric Co | 4.750% | 2/15/44 | BBB- | 943,846 | |||
300 | Pacific Gas and Electric Co | 4.250% | 3/15/46 | BBB- | 291,517 | |||
207 | Pacific Gas and Electric Co | 4.950% | 7/01/50 | BBB- | 218,207 | |||
7,041 | Total Electric Utilities | 6,014,818 | ||||||
Energy Equipment & Services – 0.4% (0.2% of Total Investments) | ||||||||
280 | Bausch Health Cos Inc, 144A | 6.125% | 4/15/25 | B | 287,840 | |||
645 | Nabors Industries Ltd, 144A | 7.250% | 1/15/26 | B2 | 251,550 | |||
925 | Total Energy Equipment & Services | 539,390 | ||||||
Entertainment – 0.2% (0.1% of Total Investments) | ||||||||
500 | AMC Entertainment Holdings Inc, 144A | 10.500% | 4/15/25 | CCC | 268,750 | |||
Equity Real Estate Investment Trust – 0.8% (0.5% of Total Investments) | ||||||||
1,035 | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC, 144A | 7.875% | 2/15/25 | BB+ | 1,097,100 | |||
Gas Utilities – 0.8% (0.5% of Total Investments) | ||||||||
1,050 | Ferrellgas LP / Ferrellgas Finance Corp, 144A | 10.000% | 4/15/25 | B3 | 1,145,812 |
14
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
Health Care Providers & Services – 0.5% (0.3% of Total Investments) | ||||||||
$50 | HCA Inc | 5.375% | 2/01/25 | Ba2 | $55,366 | |||
125 | Tenet Healthcare Corp | 4.625% | 7/15/24 | BB- | 127,113 | |||
485 | Tenet Healthcare Corp, 144A | 6.250% | 2/01/27 | B1 | 503,578 | |||
660 | Total Health Care Providers & Services | 686,057 | ||||||
Hotels, Restaurants & Leisure – 0.2% (0.1% of Total Investments) | ||||||||
96 | 1011778 BC ULC / New Red Finance Inc, 144A | 5.000% | 10/15/25 | B+ | 98,410 | |||
160 | Carnival Corp, 144A | 11.500% | 4/01/23 | BB+ | 176,800 | |||
256 | Total Hotels, Restaurants & Leisure | 275,210 | ||||||
IT Services – 0.2% (0.1% of Total Investments) | ||||||||
280 | Genesys Telecommunications Laboratories Inc/Greeneden Lux 3 Sarl/Greeneden US Ho, 144A | 10.000% | 11/30/24 | CCC+ | 295,456 | |||
Media – 2.0% (1.3% of Total Investments) | ||||||||
1,033 | AMC Entertainment Holdings Inc, 144A, (cash 10.000%, PIK 12.000%) | 12.000% | 6/15/26 | C | 56,815 | |||
910 | Houghton Mifflin Harcourt Publishers Inc, 144A | 9.000% | 2/15/25 | BB- | 882,700 | |||
1 | iHeartCommunications Inc | 6.375% | 5/01/26 | B+ | 883 | |||
396 | iHeartCommunications Inc | 8.375% | 5/01/27 | CCC+ | 386,082 | |||
1,075 | iHeartCommunications Inc, 144A | 5.250% | 8/15/27 | B+ | 1,061,089 | |||
165 | Intelsat Luxembourg SA, (5) | 8.125% | 6/01/23 | N/R | 5,363 | |||
415 | Univision Communications Inc, 144A | 9.500% | 5/01/25 | B | 449,237 | |||
3,995 | Total Media | 2,842,169 | ||||||
Oil, Gas & Consumable Fuels – 1.3% (0.8% of Total Investments) | ||||||||
125 | Ascent Resources Utica Holdings LLC / ARU Finance Corp, 144A | 10.000% | 4/01/22 | B | 125,000 | |||
1,150 | Citgo Holding Inc, 144A | 9.250% | 8/01/24 | B+ | 966,000 | |||
150 | CITGO Petroleum Corp, 144A | 6.250% | 8/15/22 | BB | 140,625 | |||
385 | CITGO Petroleum Corp, 144A | 7.000% | 6/15/25 | BB | 357,087 | |||
210 | MEG Energy Corp, 144A | 7.000% | 3/31/24 | B+ | 199,500 | |||
2,020 | Total Oil, Gas & Consumable Fuels | 1,788,212 | ||||||
Pharmaceuticals – 0.5% (0.3% of Total Investments) | ||||||||
310 | Advanz Pharma Corp Ltd | 8.000% | 9/06/24 | B- | 303,800 | |||
181 | Endo Dac / Endo Finance LLC / Endo Finco Inc, 144A | 9.500% | 7/31/27 | CCC+ | 194,161 | |||
228 | Endo Dac / Endo Finance LLC / Endo Finco Inc, 144A | 6.000% | 6/30/28 | CCC+ | 176,130 | |||
90 | Par Pharmaceutical Inc, 144A | 7.500% | 4/01/27 | B+ | 95,400 | |||
809 | Total Pharmaceuticals | 769,491 | ||||||
Specialty Retail – 0.1% (0.1% of Total Investments) | ||||||||
165 | PetSmart Inc, 144A | 8.875% | 6/01/25 | CCC+ | 165,825 |
15
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (4) | Value | |||
Wireless Telecommunication Services – 0.0% (0.0% of Total Investments) | ||||||||
$330 | Intelsat Connect Finance SA, 144A, (5) | 9.500% | 2/15/23 | N/R | $89,100 | |||
$26,755 | Total Corporate Bonds (cost $25,535,223) | 22,164,816 |
Shares | Description (1) | Value | ||||||
COMMON STOCKS – 2.3% (1.4% of Total Investments) | ||||||||
Diversified Consumer Services – 0.0% (0.0% of Total Investments) | ||||||||
9,343 | Cengage Learning Holdings II Inc, (8), (9) | $46,248 | ||||||
Electric Utilities – 0.4% (0.2% of Total Investments) | ||||||||
25,367 | Energy Harbor Corp, (8), (9), (10) | 507,340 | ||||||
Energy Equipment & Services – 0.0% (0.0% of Total Investments) | ||||||||
28,730 | Transocean Ltd | 19,263 | ||||||
3,779 | Vantage Drilling International, (8), (9) | 6,300 | ||||||
Total Energy Equipment & Services | 25,563 | |||||||
Health Care Providers & Services – 0.0% (0.0% of Total Investments) | ||||||||
12,290 | Millennium Health LLC, (7), (9) | 13,642 | ||||||
11,533 | Millennium Health LLC, (7), (9) | 11,648 | ||||||
Total Health Care Providers & Services | 25,290 | |||||||
Internet & Direct Marketing Retail – 0.0% (0.0% of Total Investments) | ||||||||
1,905 | Catalina Marketing Corp, (8), (9) | 238 | ||||||
Marine – 0.0% (0.0% of Total Investments) | ||||||||
430 | ACBL HLDG CORP, (8), (9) | 16,125 | ||||||
Media – 1.0% (0.7% of Total Investments) | ||||||||
272,893 | Clear Channel Outdoor Holdings Inc, (9) | 243,966 | ||||||
20,868 | Cumulus Media Inc, (9) | 105,592 | ||||||
135,343 | iHeartMedia Inc, (9) | 1,112,520 | ||||||
Total Media | 1,462,078 | |||||||
Oil, Gas & Consumable Fuels – 0.1% (0.1% of Total Investments) | ||||||||
8,561 | Whiting Petroleum Corp, (9) | 124,991 | ||||||
Pharmaceuticals – 0.0% (0.0% of Total Investments) | ||||||||
2,753 | Advanz Pharma Corp Ltd, (9) | 13,407 | ||||||
Software – 0.7% (0.4% of Total Investments) | ||||||||
10,700 | Avaya Holdings Corp, (9) | 184,040 | ||||||
4,065 | SkillSoft Corp, (8), (9) | 691,050 | ||||||
265 | SkillSoft Corp, (8), (9) | 60,950 | ||||||
389 | SkillSoft Corp, (7), (9) | — |
16
Shares | Description (1) | Value | ||||||
Software (continued) | ||||||||
779 | SkillSoft Corp, (7), (9) | $1 | ||||||
Total Software | 936,041 | |||||||
Wireless Telecommunication Services – 0.1% (0.0% of Total Investments) | ||||||||
5,845 | Windstream Services LLC, (9) | 56,769 | ||||||
Total Common Stocks (cost $8,451,439) | 3,214,090 |
Shares | Description (1) | Value | ||||||
WARRANTS – 0.1% (0.1% of Total Investments) | ||||||||
Communications Equipment – 0.0% (0.0% of Total Investments) | ||||||||
8,503 | Avaya Holdings Corp, (8) | $11,224 | ||||||
Marine – 0.1% (0.1% of Total Investments) | ||||||||
452 | ACBL HLDG CORP, (8) | 16,950 | ||||||
1,682 | ACBL HLDG CORP, (8) | 44,573 | ||||||
1,279 | ACBL HLDG CORP, (8) | 41,567 | ||||||
3,413 | Total Marine | 103,090 | ||||||
Total Warrants (cost $660,566) | 114,314 |
Shares | Description (1) | Coupon | Ratings (4) | Value | ||||
CONVERTIBLE PREFERRED SECURITIES – 0.1% (0.0% of Total Investments) | ||||||||
Marine – 0.1% | ||||||||
1,600 | ACBL HLDG CORP, (8) | 0.000% | N/R | $42,400 | ||||
1,821 | ACBL HLDG CORP, (8) | 0.000% | N/R | 59,183 | ||||
Total Marine | 101,583 | |||||||
Total Convertible Preferred Securities (cost $97,141) | 101,583 |
Shares | Description (1) | Value | ||||||
COMMON STOCK RIGHTS – 0.0% (0.0% of Total Investments) | ||||||||
Oil, Gas & Consumable Fuels – 0.0% (0.0% of Total Investments) | ||||||||
7,268 | Fieldwood Energy Inc, (8), (9) | $72 | ||||||
1,468 | Fieldwood Energy Inc, (8), (9) | 15 | ||||||
Total Common Stock Rights (cost $207,458) | 87 | |||||||
Total Long-Term Investments (cost $242,577,259) | 218,082,772 |
17
JSD | Nuveen Short Duration Credit Opportunities Fund (continued) |
Portfolio of Investments October 31, 2020 | |
(Unaudited) |
Shares | Description (1) | Coupon | Value | |||||
SHORT-TERM INVESTMENTS – 5.1% (3.2% of Total Investments) | ||||||||
INVESTMENT COMPANIES – 5.1% (3.2% of Total Investments) | ||||||||
7,178,647 | BlackRock Liquidity Funds T-Fund, (11) | 0.000% (12) | $7,178,647 | |||||
Total Short-Term Investments (cost $7,178,647) | 7,178,647 | |||||||
Total Investments (cost $249,755,906) – 159.2% | 225,261,419 | |||||||
Borrowings – (7.1)% (13), (14) | (10,000,000) | |||||||
Taxable Fund Preferred Shares, net of deferred offering costs – (49.2)% (15) | (69,666,923) | |||||||
Other Assets Less Liabilities – (2.9)% | (4,068,758) | |||||||
Net Assets Applicable to Common Shares – 100% | $141,525,738 |
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. 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).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Variable Rate Senior Loan Interests | $ — | $191,342,833 | $1,145,049 | $192,487,882 |
Corporate Bonds | — | 22,164,816 | — | 22,164,816 |
Common Stocks | 1,860,548 | 1,328,251 | 25,291 | 3,214,090 |
Warrants | — | 114,314 | — | 114,314 |
Convertible Preferred Securities | — | 101,583 | — | 101,583 |
Common Stock Rights | — | 87 | — | 87 |
Short-Term Investments: | ||||
Investment Companies | 7,178,647 | — | — | 7,178,647 |
Total | $9,039,195 | $215,051,884 | $1,170,340 | $225,261,419 |
18
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | ||
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |
(2) | Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate (Reference Rate) plus an assigned fixed rate (Spread). These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. The rate shown is the coupon as of the end of the reporting period. | |
(3) | Senior Loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments of senior loans may occur. As a result, the actual remaining maturity of senior loans held may be substantially less than the stated maturities shown. | |
(4) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. | |
(5) | Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy. | |
(6) | Investment, or portion of investment, represents an outstanding unfunded senior loan commitment. | |
(7) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. | |
(8) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(9) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(10) | Common Stock received as part of the bankruptcy settlements for Bruce Mansfield Unit 1 2007 Pass-Through Trust. | |
(11) | A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov. | |
(12) | The rate shown is the annualized seven-day subsidized yield as of the end of the reporting period. | |
(13) | Borrowings as a percentage of Total Investments is 4.4%. | |
(14) | The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives, when applicable) in the Portfolio of Investments as collateral for borrowings. | |
(15) | Taxable Fund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 30.9%. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
DD1 | Portion of investment purchased on a delayed delivery basis. | |
LIBOR | London Inter-Bank Offered Rate | |
N/A | Not Applicable. | |
PIK | Payment-in-kind (“PIK”) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period. | |
TBD | Senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
19