Nuveen Preferred and Income Term Fund (JPI) NPORT-P Nuveen Preferred and Income Term Fund (Oct 2022 report)

1

Nuveen

Preferred

and

Income

Term

Fund

Portfolio

of

Investments

October

31,

2022

(Unaudited)

JPI

Principal

Amount

(000)

/

Shares

Description

(1)

Coupon

Maturity

Ratings

(2)

Value

LONG-TERM

INVESTMENTS

-

158.3%  

(99.6%

of

Total

Investments)

X

339,300,184

$1,000

PAR

(OR

SIMILAR)

INSTITUTIONAL

PREFERRED

-

78.0%

(49.1%

of

Total

Investments)

X

339,300,184

Automobiles

-

2.2%

$

7,963

General

Motors

Financial

Co

Inc

5.750%

N/A

(3)

BB+

$

6,528,864

3,610

General

Motors

Financial

Co

Inc

5.700%

N/A

(3)

BB+

3,068,500

11,573

Total

Automobiles

9,597,364

Banks

-

27.3%

2,430

Bank

of

America

Corp

4.375%

N/A

(3)

BBB+

1,950,075

3,815

Bank

of

America

Corp

6.300%

N/A

(3)

BBB+

3,719,854

3,620

Bank

of

America

Corp

6.500%

N/A

(3)

BBB+

3,592,850

3,290

Bank

of

America

Corp

6.250%

N/A

(3)

BBB+

3,202,609

1,330

Bank

of

America

Corp

6.100%

N/A

(3)

BBB+

1,283,450

6,565

Citigroup

Inc

6.300%

N/A

(3)

BBB-

6,121,863

2,870

Citigroup

Inc

(4)

6.250%

N/A

(3)

BBB-

2,769,837

7,308

Citigroup

Inc

5.950%

N/A

(3)

BBB-

6,615,052

4,850

Citigroup

Inc

(5)

5.000%

N/A

(3)

BBB-

4,315,045

1,695

Citigroup

Inc

4.150%

N/A

(3)

BBB-

1,323,957

880

Citizens

Financial

Group

Inc

6.375%

N/A

(3)

BB+

802,343

1,530

Citizens

Financial

Group

Inc

4.000%

N/A

(3)

BB+

1,210,255

4,805

CoBank

ACB

6.450%

N/A

(3)

BBB+

4,660,884

1,215

Fifth

Third

Bancorp

4.500%

N/A

(3)

Baa3

1,114,561

2,670

First

Citizens

BancShares

Inc/NC

(3-Month

LIBOR

reference

rate

+

3.972%

spread)

(6)

7.265%

N/A

(3)

BB-

2,639,963

850

Goldman

Sachs

Group

Inc/The

4.400%

N/A

(3)

BB+

697,545

860

Goldman

Sachs

Group

Inc/The

3.800%

N/A

(3)

BBB-

661,079

2,121

HSBC

Capital

Funding

Dollar

1

LP,

144A

10.176%

N/A

(3)

BBB

2,600,392

4,740

Huntington

Bancshares

Inc/OH

5.625%

N/A

(3)

Baa3

4,307,932

2,370

JPMorgan

Chase

&

Co

6.100%

N/A

(3)

BBB+

2,320,396

10,092

JPMorgan

Chase

&

Co

(5)

6.750%

N/A

(3)

BBB+

10,092,000

5,800

JPMorgan

Chase

&

Co

(4)

5.000%

N/A

(3)

BBB+

5,343,540

2,305

JPMorgan

Chase

&

Co

3.650%

N/A

(3)

BBB+

1,907,272

2,430

KeyCorp

5.000%

N/A

(3)

Baa3

2,128,322

1,765

M&T

Bank

Corp

5.125%

N/A

(3)

Baa2

1,538,521

1,340

M&T

Bank

Corp

3.500%

N/A

(3)

Baa2

992,778

1,570

M&T

Bank

Corp

6.450%

N/A

(3)

Baa2

1,515,523

2,130

PNC

Financial

Services

Group

Inc/The

3.400%

N/A

(3)

Baa2

1,589,513

2,340

PNC

Financial

Services

Group

Inc/The

6.000%

N/A

(3)

Baa2

2,170,350

799

PNC

Financial

Services

Group

Inc/The

(3-Month

LIBOR

reference

rate

+

3.678%

spread)

(6)

3.804%

N/A

(3)

Baa2

796,986

1,407

PNC

Financial

Services

Group

Inc/The

5.000%

N/A

(3)

Baa2

1,204,701

945

PNC

Financial

Services

Group

Inc/The

6.200%

N/A

(3)

Baa2

895,104

1,745

Regions

Financial

Corp

5.750%

N/A

(3)

Baa3

1,692,650

830

SVB

Financial

Group

4.100%

N/A

(3)

Baa2

510,230

1,320

SVB

Financial

Group

4.000%

N/A

(3)

Baa2

923,730

730

SVB

Financial

Group

4.700%

N/A

(3)

Baa2

487,275

7,960

Truist

Financial

Corp

(4)

4.800%

N/A

(3)

Baa2

7,146,090

2,520

Truist

Financial

Corp

5.100%

N/A

(3)

Baa2

2,205,185

1,805

Truist

Financial

Corp

(3-Month

LIBOR

reference

rate

+

3.102%

spread)

(4),(6)

6.395%

N/A

(3)

Baa2

1,750,850

3,256

Wells

Fargo

&

Co

5.900%

N/A

(3)

Baa2

2,952,785

5,803

Wells

Fargo

&

Co

(5)

5.875%

N/A

(3)

Baa2

5,570,880

1,230

Wells

Fargo

&

Co

(4)

7.950%

11/15/29

Baa1

1,346,819

6,540

Wells

Fargo

&

Co

3.900%

N/A

(3)

Baa2

5,552,460

1,050

Zions

Bancorp

NA

5.800%

N/A

(3)

BB+

992,250

Nuveen

Preferred

and

Income

Term

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

(Unaudited)

2

JPI

Principal

Amount

(000)

/

Shares

Description

(1)

Coupon

Maturity

Ratings

(2)

Value

Banks

(continued)

$

1,415

Zions

Bancorp

NA

(4)

7.200%

N/A

(3)

BB+

$

1,422,075

128,941

Total

Banks

118,637,831

Capital

Markets

-

3.6%

1,145

Bank

of

New

York

Mellon

Corp/The

4.700%

N/A

(3)

Baa1

1,096,337

1,950

Charles

Schwab

Corp/The

4.000%

N/A

(3)

BBB

1,603,192

4,215

Charles

Schwab

Corp/The

(5)

5.375%

N/A

(3)

BBB

4,114,894

4,127

Goldman

Sachs

Group

Inc/The

(4)

5.300%

N/A

(3)

BBB-

3,878,101

4,595

Goldman

Sachs

Group

Inc/The

(5)

5.500%

N/A

(3)

BBB-

4,362,769

950

Goldman

Sachs

Group

Inc/The

4.125%

N/A

(3)

BBB-

745,750

16,982

Total

Capital

Markets

15,801,043

Communications

Equipment

-

0.3%

1,920

Vodafone

Group

PLC

4.125%

6/04/81

BB+

1,361,779

Consumer

Finance

-

2.3%

3,190

Ally

Financial

Inc

4.700%

N/A

(3)

Ba2

2,312,750

2,570

Ally

Financial

Inc

4.700%

N/A

(3)

Ba2

1,728,325

2,350

American

Express

Co

3.550%

N/A

(3)

Baa2

1,812,437

2,705

Capital

One

Financial

Corp

3.950%

N/A

(3)

Baa3

2,023,449

1,820

Discover

Financial

Services

6.125%

N/A

(3)

Ba2

1,748,473

800

Discover

Financial

Services

5.500%

N/A

(3)

Ba2

618,480

13,435

Total

Consumer

Finance

10,243,914

Diversified

Financial

Services

-

5.2%

2,010

American

AgCredit

Corp,

144A

5.250%

N/A

(3)

BB+

1,839,150

2,425

Capital

Farm

Credit

ACA,

144A

5.000%

N/A

(3)

BB

2,061,250

1,050

Compeer

Financial

ACA,

144A

4.875%

N/A

(3)

BB+

926,626

12

Compeer

Financial

ACA,

144A

6.750%

N/A

(3)

BB+

11,682,000

3,430

Equitable

Holdings

Inc

(5)

4.950%

N/A

(3)

BBB-

3,189,900

3,171

Voya

Financial

Inc

(4)

6.125%

N/A

(3)

BBB-

3,091,725

12,098

Total

Diversified

Financial

Services

22,790,651

Electric

Utilities

-

2.9%

1,920

American

Electric

Power

Co

Inc

(4)

3.875%

2/15/62

BBB

1,474,276

2,110

Edison

International

5.000%

N/A

(3)

BB+

1,709,100

930

Edison

International

5.375%

N/A

(3)

BB+

758,787

1,460

Electricite

de

France

SA,

144A

5.250%

N/A

(3)

BBB-

1,372,801

6,100

Emera

Inc

(4)

6.750%

6/15/76

BB+

5,685,945

1,670

Southern

Co

4.000%

1/15/51

BBB-

1,452,048

14,190

Total

Electric

Utilities

12,452,957

Food

Products

-

5.3%

2,250

Dairy

Farmers

of

America

Inc,

144A

7.125%

N/A

(3)

BB+

2,092,502

2,240

Land

O'

Lakes

Inc,

144A

7.250%

N/A

(3)

BB

2,083,200

7,223

Land

O'

Lakes

Inc,

144A

(5)

7.000%

N/A

(3)

BB

6,663,217

12,550

Land

O'

Lakes

Inc,

144A

(5)

8.000%

N/A

(3)

BB

12,393,125

24,263

Total

Food

Products

23,232,044

Independent

Power

And

Renewable

Electricity

Producers

-

0.7%

2,550

AES

Andes

SA,

144A

(4)

6.350%

10/07/79

BB

2,071,755

1,095

Vistra

Corp,

144A

7.000%

N/A

(3)

Ba3

968,642

3,645

Total

Independent

Power

And

Renewable

Electricity

Producers

3,040,397

3

Principal

Amount

(000)

/

Shares

Description

(1)

Coupon

Maturity

Ratings

(2)

Value

Independent

Power

Producers

&

Energy

Traders

-

0.5%

$

1,240

AES

Andes

SA,

144A

7.125%

3/26/79

BB

$

1,017,707

1,135

Vistra

Corp,

144A

8.000%

N/A

(3)

Ba3

1,078,250

2,375

Total

Independent

Power

Producers

&

Energy

Traders

2,095,957

Industrial

Conglomerates

-

1.7%

7,552

General

Electric

Co

(3-Month

LIBOR

reference

rate

+

3.330%

spread)

(5),(6)

6.623%

N/A

(3)

BBB-

7,278,240

Insurance

-

15.2%

1,505

Aegon

NV

5.500%

4/11/48

Baa1

1,330,420

1,447

American

International

Group

Inc

(4)

5.750%

4/01/48

BBB-

1,293,227

8,580

Assurant

Inc

(4)

7.000%

3/27/48

Baa3

8,167,645

10,595

Assured

Guaranty

Municipal

Holdings

Inc,

144A

(4)

6.400%

12/15/66

BBB+

9,641,450

2,320

AXIS

Specialty

Finance

LLC

(4)

4.900%

1/15/40

BBB

1,879,200

1,505

Enstar

Finance

LLC

(4)

5.500%

1/15/42

BBB-

1,182,539

1,540

Enstar

Finance

LLC

5.750%

9/01/40

BBB-

1,365,028

1,375

Legal

&

General

Group

PLC

,

Reg

S

5.250%

3/21/47

A3

1,210,000

4,755

Markel

Corp

(5)

6.000%

N/A

(3)

BBB-

4,552,654

1,850

MetLife

Inc

3.850%

N/A

(3)

BBB

1,625,667

3,440

MetLife

Inc,

144A

9.250%

4/08/38

BBB

3,949,042

1,270

MetLife

Inc

(4)

5.875%

N/A

(3)

BBB

1,139,243

2,335

PartnerRe

Finance

B

LLC

(4)

4.500%

10/01/50

Baa1

1,907,238

4,129

Provident

Financing

Trust

I

(5)

7.405%

3/15/38

BB+

4,252,870

700

Prudential

Financial

Inc

3.700%

10/01/50

BBB+

544,117

905

Prudential

Financial

Inc

5.125%

3/01/52

BBB+

771,666

2,770

QBE

Insurance

Group

Ltd,

144A

(4)

5.875%

N/A

(3)

Baa2

2,521,678

7,495

QBE

Insurance

Group

Ltd,

144A

7.500%

11/24/43

Baa1

7,456,486

1,135

QBE

Insurance

Group

Ltd

,

Reg

S

6.750%

12/02/44

BBB

1,092,347

2,600

SBL

Holdings

Inc,

144A

6.500%

N/A

(3)

BB

1,963,000

10,005

SBL

Holdings

Inc,

144A

7.000%

N/A

(3)

BB

8,054,025

72,256

Total

Insurance

65,899,542

Media

-

0.3%

1,660

Paramount

Global

6.375%

3/30/62

Baa3

1,403,396

Multi-Utilities

-

2.4%

1,195

Algonquin

Power

&

Utilities

Corp

(4)

4.750%

1/18/82

BB+

962,244

4,505

CenterPoint

Energy

Inc

6.125%

N/A

(3)

BBB-

4,231,021

570

CMS

Energy

Corp

(4)

4.750%

6/01/50

BBB-

472,599

1,215

NiSource

Inc

5.650%

N/A

(3)

BBB-

1,117,800

2,365

Sempra

Energy

4.875%

N/A

(3)

BBB-

2,148,217

1,785

Sempra

Energy

(4)

4.125%

4/01/52

BBB-

1,343,212

11,635

Total

Multi-Utilities

10,275,093

Oil,

Gas

&

Consumable

Fuels

-

3.0%

2,245

Enbridge

Inc

7.625%

1/15/83

BBB-

2,158,720

1,245

Enbridge

Inc

5.500%

7/15/77

BBB-

1,068,334

3,520

Enbridge

Inc

(4)

5.750%

7/15/80

BBB-

3,110,307

690

Enbridge

Inc

6.000%

1/15/77

BBB-

620,887

1,590

Energy

Transfer

LP

(4)

6.500%

N/A

(3)

BB

1,367,400

345

Energy

Transfer

LP

(4)

7.125%

N/A

(3)

BB

286,133

1,620

MPLX

LP

(4)

6.875%

N/A

(3)

BB+

1,579,500

1,645

Transcanada

Trust

(4)

5.500%

9/15/79

BBB

1,377,687

1,650

Transcanada

Trust

(4)

5.600%

3/07/82

BBB

1,412,813

14,550

Total

Oil,

Gas

&

Consumable

Fuels

12,981,781

Nuveen

Preferred

and

Income

Term

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

(Unaudited)

4

JPI

Principal

Amount

(000)

/

Shares

Description

(1)

Coupon

Maturity

Ratings

(2)

Value

Trading

Companies

&

Distributors

-

3.7%

$

7,045

AerCap

Global

Aviation

Trust,

144A

(4)

6.500%

6/15/45

BB+

$

6,428,563

1,915

AerCap

Holdings

NV

5.875%

10/10/79

BB+

1,722,925

2,045

Air

Lease

Corp

4.650%

N/A

(3)

BB+

1,704,306

1,855

ILFC

E-Capital

Trust

I,

144A

(4)

5.115%

12/21/65

B+

1,131,550

7,902

ILFC

E-Capital

Trust

I,

144A

(4)

5.365%

12/21/65

BB+

5,136,300

20,762

Total

Trading

Companies

&

Distributors

16,123,644

U.S.

Agency

-

0.7%

2,270

Farm

Credit

Bank

of

Texas,

144A

5.700%

N/A

(3)

Baa1

2,029,144

1,180

Farm

Credit

Bank

of

Texas,

144A

6.200%

N/A

(3)

BBB+

1,034,407

3,450

Total

U.S.

Agency

3,063,551

Wireless

Telecommunication

Services

-

0.7%

3,180

Vodafone

Group

PLC

7.000%

4/04/79

BB+

3,021,000

$

364,467

Total

$1,000

Par

(or

similar)

Institutional

Preferred

(cost

$373,363,672)

339,300,184

Principal

Amount

(000)

Description

(1)

,(7)

Coupon

Maturity

Ratings

(2)

Value

X

218,039,988

CONTINGENT

CAPITAL

SECURITIES

-

50.1%

(31.5%

of

Total

Investments)

X

218,039,988

Banks

-

36.3%

$

1,470

Australia

&

New

Zealand

Banking

Group

Ltd/United

Kingdom,

144A

6.750%

N/A

(3)

Baa2

$

1,407,830

3,570

Banco

Bilbao

Vizcaya

Argentaria

SA

(4)

6.125%

N/A

(3)

Ba2

2,741,458

5,600

Banco

Bilbao

Vizcaya

Argentaria

SA

(5)

6.500%

N/A

(3)

Ba2

5,002,256

1,300

Banco

Mercantil

del

Norte

SA/Grand

Cayman,

144A

(4)

7.500%

N/A

(3)

Ba2

1,014,736

2,930

Banco

Mercantil

del

Norte

SA/Grand

Cayman,

144A

(4)

7.625%

N/A

(3)

Ba2

2,405,193

4,660

Banco

Santander

SA

4.750%

N/A

(3)

Ba1

3,279,840

5,200

Banco

Santander

SA

,

Reg

S

7.500%

N/A

(3)

Ba1

4,925,118

6,095

Barclays

PLC

(5)

6.125%

N/A

(3)

BBB-

5,287,412

5,170

Barclays

PLC

(4)

8.000%

N/A

(3)

BBB-

4,864,701

8,350

Barclays

PLC

(4),(5)

7.750%

N/A

(3)

BBB-

7,859,437

2,060

Barclays

PLC

8.000%

N/A

(3)

BBB-

1,845,459

1,000

BNP

Paribas

SA,

144A

7.750%

N/A

(3)

BBB

942,835

7,615

BNP

Paribas

SA,

144A

(5)

7.375%

N/A

(3)

BBB

7,379,466

950

BNP

Paribas

SA,

144A

7.000%

N/A

(3)

BBB

848,521

6,855

BNP

Paribas

SA,

144A

(5)

6.625%

N/A

(3)

BBB

6,415,540

3,935

Credit

Agricole

SA,

144A

7.875%

N/A

(3)

BBB

3,908,942

6,979

Credit

Agricole

SA,

144A

(5)

8.125%

N/A

(3)

BBB

6,944,105

870

Danske

Bank

A/S

,

Reg

S

7.000%

N/A

(3)

BBB-

802,693

1,020

Danske

Bank

A/S

,

Reg

S

6.125%

N/A

(3)

BBB-

945,936

970

Danske

Bank

A/S

,

Reg

S

4.375%

N/A

(3)

BBB-

773,575

10,360

HSBC

Holdings

PLC

(5)

6.000%

N/A

(3)

BBB

8,393,672

13,356

HSBC

Holdings

PLC

(5)

6.375%

N/A

(3)

BBB

11,886,840

4,850

ING

Groep

NV

5.750%

N/A

(3)

BBB

4,143,205

6,740

ING

Groep

NV

,

Reg

S

6.750%

N/A

(3)

BBB

6,377,725

4,270

ING

Groep

NV

6.500%

N/A

(3)

BBB

3,886,131

2,139

Intesa

Sanpaolo

SpA,

144A

(4)

7.700%

N/A

(3)

BB-

1,851,696

6,550

Lloyds

Banking

Group

PLC

7.500%

N/A

(3)

Baa3

6,075,125

10,515

Lloyds

Banking

Group

PLC

7.500%

N/A

(3)

Baa3

10,025,777

3,050

Macquarie

Bank

Ltd/London,

144A

6.125%

N/A

(3)

BB+

2,594,394

5,950

NatWest

Group

PLC

8.000%

N/A

(3)

BBB-

5,608,173

5,255

NatWest

Group

PLC

6.000%

N/A

(3)

Baa3

4,676,425

3,735

Nordea

Bank

Abp,

144A

6.625%

N/A

(3)

BBB+

3,518,275

6,163

Societe

Generale

SA,

144A

(5)

7.875%

N/A

(3)

BB+

6,000,368

1,928

Societe

Generale

SA,

144A

(4)

6.750%

N/A

(3)

BB

1,568,904

1,820

Societe

Generale

SA,

144A

8.000%

N/A

(3)

BB

1,792,284

2,635

Societe

Generale

SA,

144A

(4)

4.750%

N/A

(3)

BB+

2,024,998

5

Principal

Amount

(000)

Description

(1),(7)

Coupon

Maturity

Ratings

(2)

Value

Banks

(continued)

$

1,875

Standard

Chartered

PLC,

144A

7.750%

N/A

(3)

BBB-

$

1,852,824

1,980

Standard

Chartered

PLC,

144A

6.000%

N/A

(3)

BBB-

1,803,723

2,890

Standard

Chartered

PLC,

144A

4.300%

N/A

(3)

BBB-

1,899,965

2,990

UniCredit

SpA

,

Reg

S

8.000%

N/A

(3)

BB-

2,791,913

175,650

Total

Banks

158,367,470

Capital

Markets

-

13.4%

9,496

Credit

Suisse

Group

AG,

144A

(4),(5)

7.250%

N/A

(3)

BB-

7,435,368

1,870

Credit

Suisse

Group

AG,

144A

9.750%

N/A

(3)

BB-

1,776,738

4,407

Credit

Suisse

Group

AG,

144A

7.500%

N/A

(3)

BB-

3,988,256

8,175

Credit

Suisse

Group

AG,

144A

(4)

7.500%

N/A

(3)

BB-

7,245,094

1,955

Credit

Suisse

Group

AG,

144A

(4)

6.375%

N/A

(3)

Ba2

1,457,661

10,995

Deutsche

Bank

AG

(4)

6.000%

N/A

(3)

Ba2

8,601,280

7,637

UBS

Group

AG

,

Reg

S

7.000%

N/A

(3)

BBB

7,388,797

8,620

UBS

Group

AG,

144A

(4),(5)

7.000%

N/A

(3)

BBB

8,337,377

2,780

UBS

Group

AG,

144A

3.875%

N/A

(3)

BBB

2,118,916

9,405

UBS

Group

AG

,

Reg

S(4)

6.875%

N/A

(3)

BBB

8,915,075

900

UBS

Group

AG,

144A

4.875%

N/A

(3)

BBB

718,201

66,240

Total

Capital

Markets

57,982,763

Commercial

Banks

-

0.4%

1,895

HSBC

Holdings

PLC

6.375%

N/A

(3)

BBB

1,689,755

$

243,785

Total

Contingent

Capital

Securities

(cost

$249,486,543)

218,039,988

Shares

Description

(1)

Coupon

Ratings

(2)

Value

X

127,652,037

$25

PAR

(OR

SIMILAR)

RETAIL

PREFERRED

-

29.4%

(18.5%

of

Total

Investments)

X

127,652,037

Banks

-

8.3%

62,728

CoBank

ACB

6.200%

BBB+

$

6,272,800

111,200

Farm

Credit

Bank

of

Texas,

144A(4)

6.750%

Baa1

10,981,000

98,863

Fifth

Third

Bancorp

6.625%

Baa3

2,493,325

232,000

KeyCorp

6.200%

Baa3

5,656,160

25,900

KeyCorp

6.125%

Baa3

604,506

120,200

Regions

Financial

Corp

6.375%

Baa3

2,968,940

57,838

Regions

Financial

Corp

5.700%

Baa3

1,204,187

71,253

Synovus

Financial

Corp

5.875%

BB-

1,574,691

64,600

Wells

Fargo

&

Co

4.750%

Baa2

1,162,800

43,000

Western

Alliance

Bancorp

4.250%

Ba1

860,000

86,389

Wintrust

Financial

Corp

6.875%

BB

2,188,234

Total

Banks

35,966,643

Capital

Markets

-

3.2%

31,549

Goldman

Sachs

Group

Inc/The

5.500%

BB+

776,421

101,372

Morgan

Stanley

7.125%

BBB-

2,539,369

93,300

Morgan

Stanley

6.375%

BBB-

2,266,257

83,476

Morgan

Stanley

6.875%

BBB-

2,088,569

63,000

Morgan

Stanley

6.500%

BBB-

1,562,400

196,300

Morgan

Stanley

5.850%

BBB-

4,497,233

Total

Capital

Markets

13,730,249

Consumer

Finance

-

0.3%

66,500

Synchrony

Financial

5.625%

BB-

1,128,505

Diversified

Financial

Services

-

3.0%

69,700

AgriBank

FCB

6.875%

BBB+

6,917,725

105,500

Equitable

Holdings

Inc(4)

5.250%

BBB-

1,964,410

190,535

Voya

Financial

Inc(5)

5.350%

BBB-

4,037,437

Total

Diversified

Financial

Services

12,919,572

Nuveen

Preferred

and

Income

Term

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

(Unaudited)

6

JPI

Shares  

Description

(1)

Coupon

Ratings

(2)

Value

Diversified

Telecommunication

Services

-

0.2%

49,500

AT&T

Inc(4)

4.750%

BBB-

$

857,340

Food

Products

-

2.7%

169,110

CHS

Inc

6.750%

N/R

4,131,357

168,229

CHS

Inc

7.100%

N/R

4,214,137

61,800

CHS

Inc

7.875%

N/R

1,585,788

20,500

Dairy

Farmers

of

America

Inc,

144A

7.875%

BB+

1,957,750

Total

Food

Products

11,889,032

Insurance

-

7.9%

122,300

American

Equity

Investment

Life

Holding

Co

6.625%

BB

2,832,468

241,300

American

Equity

Investment

Life

Holding

Co

5.950%

BB

5,436,489

231,598

Aspen

Insurance

Holdings

Ltd

5.950%

BB+

5,282,750

62,000

Aspen

Insurance

Holdings

Ltd

5.625%

BB+

1,196,600

45,000

Assurant

Inc

5.250%

Baa3

847,350

120,000

Athene

Holding

Ltd

6.375%

BBB

2,991,600

159,300

Athene

Holding

Ltd(4)

6.350%

BBB

3,792,933

39,400

Delphi

Financial

Group

Inc(4)

6.095%

BBB

866,800

123,400

Enstar

Group

Ltd(4)

7.000%

BBB-

2,712,332

150,629

Maiden

Holdings

North

America

Ltd(4)

7.750%

N/R

2,554,668

64,300

Reinsurance

Group

of

America

Inc

7.125%

BBB+

1,628,719

146,800

Reinsurance

Group

of

America

Inc(4)

5.750%

BBB+

3,448,332

43,200

Selective

Insurance

Group

Inc

4.600%

BBB-

722,952

Total

Insurance

34,313,993

Oil,

Gas

&

Consumable

Fuels

-

1.9%

33,200

Energy

Transfer

LP

7.600%

BB

764,596

125,403

NuStar

Energy

LP

10.249%

B2

2,904,334

139,235

NuStar

Energy

LP(4)

9.126%

B2

2,957,351

71,018

NuStar

Logistics

LP(4)

10.813%

B

1,769,058

Total

Oil,

Gas

&

Consumable

Fuels

8,395,339

Thrifts

&

Mortgage

Finance

-

1.1%

48,565

Federal

Agricultural

Mortgage

Corp

6.000%

N/R

1,248,120

169,115

New

York

Community

Bancorp

Inc(4)

6.375%

Ba2

3,617,370

Total

Thrifts

&

Mortgage

Finance

4,865,490

Trading

Companies

&

Distributors

-

0.8%

114,543

Air

Lease

Corp(4)

6.150%

BB+

2,462,674

41,600

WESCO

International

Inc

10.625%

B

1,123,200

Total

Trading

Companies

&

Distributors

3,585,874

Total

$25

Par

(or

similar)

Retail

Preferred

(cost

$138,202,989)

127,652,037

7

Investments

in

Derivatives

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

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Ratings

(2)

Value

X

3,355,073

CORPORATE

BONDS

-

0.8%

(0.5%

of

Total

Investments)

X

3,355,073

Banks

-

0.3%

$

1,085

Commerzbank

AG,

144A

(4)

8.125%

9/19/23

Baa3

$

1,081,073

Insurance

-

0.5%

2,400

Fidelis

Insurance

Holdings

Ltd,

144A

(4)

6.625%

4/01/41

BB+

2,274,000

$

3,485

Total

Corporate

Bonds

(cost

$3,485,000)

3,355,073

Total

Long-Term

Investments

(cost

$764,538,204)

688,347,282

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Value

SHORT-TERM

INVESTMENTS

-

 0.6% (0.4%

of

Total

Investments)

X

2,644,822

REPURCHASE

AGREEMENTS

-

0.6%

(0.4%

of

Total

Investments)

X

2,644,822

$

2,645

Repurchase

Agreement

with

Fixed

Income

Clearing

Corporation,

dated

10/31/22,

repurchase

price

$2,644,883

collateralized

by

$2,696,200,

U.S.

Treasury

Government

Bond,

4.250%,

due

5/15/39,

value

$2,697,780

0.830%

11/01/22

$

2,644,822

Total

Short-Term

Investments

(cost

$2,644,822)

2,644,822

Total

Investments

(cost

$

767,183,026

)

-

158

.9

%

690,992,104

Borrowings

-

(45.0)%

(8),(9)

(

195,400,000

)

Reverse

Repurchase

Agreements,

including

accrued

interest

-

(15.0)%(10)

(

65,286,621

)

Other

Assets

Less

Liabilities

-  1.1%(11)

4,395,363

Net

Assets

Applicable

to

Common

Shares

-

100%

$

434,700,846

Interest

Rate

Swaps

-

OTC

Uncleared

Counterparty

Notional

Amount

Fund

Pay/Receive

Floating

Rate

Floating

Rate

Index

Fixed

Rate

Fixed

Rate

Payment

Frequency

Effective

Date

(12)

Optional

Termination

Date

Maturity

Date

Value

Unrealized

Appreciation

(Depreciation)

Morgan

Stanley

Capital

Services,

LLC

$

45,000,000

Receive

1-Month

LIBOR

2.333%

Monthly

7/01/19

10/01/23

7/01/24

$

1,109,479

$

1,109,479

Morgan

Stanley

Capital

Services,

LLC

112,000,000

Receive

1-Month

LIBOR

1.928%

Monthly

6/01/18

3/01/23

3/01/24

1,215,367

1,215,367

Total

unrealized

appreciation

on

interest

rate

swaps

$

2,324,846

Nuveen

Preferred

and

Income

Term

Fund

(continued)

Portfolio

of

Investments

October

31,

2022

(Unaudited)

8

JPI

them:

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

$1,000

Par

(or

similar)

Institutional

Preferred

$

–

$

339,300,184

$

–

$

339,300,184

Contingent

Capital

Securities

–

218,039,988

–

218,039,988

$25

Par

(or

similar)

Retail

Preferred

100,655,962

26,996,075

–

127,652,037

Corporate

Bonds

–

3,355,073

–

3,355,073

Short-Term

Investments:

Repurchase

Agreements

–

2,644,822

–

2,644,822

Investments

in

Derivatives:

Interest

Rate

Swaps*

–

2,324,846

–

2,324,846

Total

$

100,655,962

$

592,660,988

$

–

$

693,316,950

*

Represents

net

unrealized

appreciation

(depreciation).

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)

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)

Perpetual

security.

Maturity

date

is

not

applicable.

(4)

Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

reverse

repurchase

agreements.

As

of

the

end

of

the

reporting

period,

investments

with

a

value

of

$141,763,962

have

been

pledged

as

collateral

for

reverse

repurchase

agreements.

(5)

Investment,

or

portion

of

investment,

is

hypothecated.

The

total

value

of

investments

hypothecated

as

of

the

end

of

the

reporting

period

was

$134,221,720.

(6)

Variable

rate

security.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

(7)

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.

(8)

Borrowings

as

a

percentage

of

Total

Investments

is

28.3%.

(9)

The

Fund

may

pledge

up

to

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.

As

of

the

end

of

the

reporting

period,

investments

with

a

value

of

$479,861,756

have

been

pledged

as

collateral

for

borrowings.

(10)

Reverse

Repurchase

Agreements,

including

accrued

interest

as

a

percentage

of

Total

investments

is

9.4%.

(11)

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.

(12)

Effective

date

represents

the

date

on

which

both

the

Fund

and

counterparty

commence

interest

payment

accruals

on

each

contract.

144A

Investment

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

investments

may

only

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

LIBOR

London

Inter-Bank

Offered

Rate

N/A

Not

Applicable.

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.