UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number 811-09037

Nuveen Investment Trust III

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Kevin J. McCarthy—Vice President and Secretary

333 West Wacker Drive, Chicago, Illinois 60606

(Name and address of agent for service)

Registrant’s telephone number, including area code: 312-917-7700

Date of fiscal year end: September 30

Date of reporting period: December 31, 2013

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


Item 1. Schedule of Investments.


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund

 

Shares     Description (1)                               Value  
 

LONG-TERM INVESTMENTS – 93.3%

           
 

COMMON STOCKS – 0.0%

           
 

Media – 0.0%

           
  9,292     

Tribune Company, (2)

                              $   
 

Total Common Stocks (cost $0)

                                  
Principal
Amount (000)
    Description (1)    Coupon               Ratings (3)      Value  
 

$1,000 PAR (OR SIMILAR) INSTITUTIONAL STRUCTURES – 0.1%

  

 

IT Services – 0.1%

           
$ 1,000     

Zayo Escrow Corporation

     8.125%                  B1       $ 1,095,000   
 

Total $1,000 Par (or similar) Institutional Structures (cost $1,000,000)

  

     1,095,000   
Principal
Amount (000)
    Description (1)    Coupon      Maturity      Ratings (3)      Value  
 

CONVERTIBLE BONDS – 0.3%

           
 

Health Care Equipment & Supplies – 0.2%

  

$ 1,537     

Hologic Inc.

     0.000%         12/15/43         N/R       $ 1,613,850   
 

Health Care Providers & Services – 0.1%

           
  500     

LifePoint Hospitals, Inc.

     3.500%         5/15/14         BB–         543,438   
  500     

Omnicare, Inc.

     3.250%         12/15/35         B+         534,375   
  1,000     

Total Health Care Providers & Services

                                1,077,813   
$ 2,537     

Total Convertible Bonds (cost $2,448,482)

                                2,691,663   
Principal
Amount (000)
    Description (1)    Coupon      Maturity      Ratings (3)      Value  
 

CORPORATE BONDS – 62.9%

           
 

Aerospace & Defense – 0.5%

           
$ 1,150     

Bombardier Inc., 144A

     6.125%         1/15/23         BB       $ 1,141,375   
  2,219     

Erickson Air-Crane Inc., 144A

     8.250%         5/01/20         B1         2,296,665   
  1,000     

TransDigm Inc.

     7.750%         12/15/18         B–         1,072,500   
  4,369     

Total Aerospace & Defense

                                4,510,540   
 

Auto Components – 1.1%

           
  2,000     

Ahern Rentals Inc., 144A

     9.500%         6/15/18         B         2,165,000   
  3,750     

Chassix Inc., 144A

     9.250%         8/01/18         B–         3,993,750   
  1,900     

Schaeffler Holding Finance BV, 144A

     6.875%         8/15/18         B1         2,014,000   
  2,100     

Stackpole International Intermediate Company, 144A

     7.750%         10/15/21         B+         2,184,000   
  9,750     

Total Auto Components

                                10,356,750   

 

Nuveen Investments     1   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund (continued)

 

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

Automobiles – 0.6%

           
$ 6,000     

Jaguar Land Rover PLC, 144A

     4.125%         12/15/18         BB       $ 6,037,500   
 

Beverages – 0.6%

           
  6,300     

Innvoation Ventures LLC Finance, 144A

     9.500%         8/15/19         B2         6,079,500   
 

Capital Markets – 0.8%

           
  7,000     

KCG Holdings Inc., 144A

     8.250%         6/15/18         B         7,367,500   
 

Chemicals – 1.5%

           
  7,000     

Hexion US Finance

     6.625%         4/15/20         Ba3         7,175,000   
  1,600     

Ineos Finance PLC, 144A

     8.375%         2/15/19         BB–         1,780,000   
  5,000     

Ineos Group Holdings SA, 144A

     6.125%         8/15/18         B–         5,025,000   
  13,600     

Total Chemicals

                                13,980,000   
 

Commercial Services & Supplies – 2.9%

           
  5,000     

ABX Group Inc.

     6.375%         12/01/19         Ba3         5,075,000   
  6,950     

ABX Group Inc.

     8.750%         12/01/20         CCC+         7,089,000   
  3,000     

Ceridian Corporation, 144A

     8.875%         7/15/19         B1         3,450,000   
  54     

Ceridian Corporation

     12.250%         11/15/15         CCC         54,405   
  5,098     

Harland Clarke Holdings

     9.500%         5/15/15         B–         5,123,490   
  900     

Monitronics Escrow Corporation, 144A

     9.125%         4/01/20         CCC+         954,000   
  5,000     

Tervita Corporation, 144A

     8.000%         11/15/18         B–         5,162,500   
  26,002     

Total Commercial Services & Supplies

                                26,908,395   
 

Communications Equipment – 2.5%

           
  12,000     

Alcatel Lucent USA Inc., 144A

     6.750%         11/15/20         B3         12,465,000   
  2,800     

Alcatel Lucent USA Inc., 144A

     4.625%         7/01/17         B3         2,803,500   
  2,000     

Avaya Inc., 144A

     7.000%         4/01/19         B1         1,960,000   
  1,000     

IntelSat Jackson Holdings

     7.250%         4/01/19         B+         1,080,000   
  1,000     

IntelSat Jackson Holdings

     7.500%         4/01/21         B+         1,102,500   
  1,750     

Level 3 Financing Inc., 144A

     6.125%         1/15/21         BB–         1,767,500   
  2,000     

Nortel Networks Limited, (6)

     0.000%         7/15/11         N/R         2,130,000   
  22,550     

Total Communications Equipment

                                23,308,500   
 

Computers & Peripherals – 0.1%

           
  900     

Seagate HDD Cayman, 144A

     3.750%         11/15/18         BBB–         910,125   
 

Consumer Finance – 0.8%

           
  2,700     

SLM Corporation

     4.875%         6/17/19         BBB–         2,690,423   
  1,900     

Springleaf Finance Corporation

     6.000%         6/01/20         B3         1,900,000   
  2,500     

TMX Finance LLC, 144A

     8.500%         9/15/18         B+         2,662,500   
  7,100     

Total Consumer Finance

                                7,252,923   
 

Containers & Packaging – 0.6%

           
  1,750     

Ardagh Packaging Finance / MP HD USA, 144A

     7.000%         11/15/20         CCC+         1,767,500   

 

  2       Nuveen Investments


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

Containers & Packaging (continued)

           
$ 1,000     

Ardagh Packaging Finance PLC, 144A

     7.375%         10/15/17         Ba3       $ 1,075,000   
  1,000     

Ardagh Packaging Finance PLC, 144A / MP HD USA, 144A

     7.375%         10/15/17         Ba3         1,073,750   
  1,250     

Reynolds Group

     7.875%         8/15/19         B+         1,381,250   
  500     

Reynolds Group

     6.875%         2/15/21         B+         538,750   
  5,500     

Total Containers & Packaging

                                5,836,250   
 

Distributors – 1.0%

           
  7,590     

HD Supply Inc.

     11.500%         7/15/20         CCC+         9,060,563   
 

Diversified Consumer Services – 0.2%

           
  1,650     

NES Rental Holdings Inc., 144A

     7.875%         5/01/18         CCC+         1,736,625   
 

Diversified Financial Services – 1.3%

           
  500     

American Capital Limited, 144A

     6.500%         9/15/18         BB–         521,250   
  1,000     

Harland Clarke Holdings

     5.010%         5/15/15         B–         997,500   
  2,000     

Jefferies Finance LLC Corporation, 144A

     7.375%         4/01/20         B+         2,080,000   
  3,350     

Nationstar Mortgage LLC Capital Corporation

     6.500%         8/01/18         B+         3,408,625   
  3,000     

Nationstar Mortgage LLC Capital Corporation

     6.500%         6/01/22         B+         2,812,500   
  2,000     

PHH Corporation

     6.375%         8/15/21         Ba2         2,000,000   
  11,850     

Total Diversified Financial Services

                                11,819,875   
 

Diversified Telecommunication Services – 2.5%

  

  1,213     

Cincinnati Bell Inc.

     8.375%         10/15/20         B         1,313,073   
  1,500     

CyrusOne LP Finance

     6.375%         11/15/22         B+         1,552,500   
  2,000     

IntelSat Limited, 144A

     7.750%         6/01/21         B–         2,145,000   
  7,000     

IntelSat Limited

     8.125%         6/01/23         B–         7,507,500   
  2,000     

Level 3 Financing Inc.

     7.000%         6/01/20         BB–         2,120,000   
  2,000     

Level 3 Financing Inc.

     8.625%         7/15/20         BB–         2,240,000   
  4,900     

Windstream Corporation

     7.750%         10/01/21         BB+         5,194,000   
  1,000     

Windstream Corporation

     7.500%         4/01/23         BB+         1,005,000   
  21,613     

Total Diversified Telecommunication Services

  

     23,077,073   
 

Electric Utilities – 0.2%

           
  1,900     

Calpine Corporation, 144A

     6.000%         1/15/22         BB+         1,947,500   
 

Energy Equipment & Services – 0.4%

           
  2,000     

Calfrac Holdings LP, 144A

     7.500%         12/01/20         BB–         2,040,000   
  2,000     

Hornbeck Offshore Services Inc.

     5.875%         4/01/20         BB–         2,065,000   
  4,000     

Total Energy Equipment & Services

                                4,105,000   
 

Food & Staples Retailing – 1.0%

           
  1,600     

Rite Aid Corporation

     9.250%         3/15/20         CCC+         1,836,000   
  500     

Rite Aid Corporation

     8.000%         8/15/20         BB–         562,500   
  1,200     

Rite Aid Corporation

     6.750%         6/15/21         CCC+         1,258,500   

 

Nuveen Investments     3   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund (continued)

 

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

Food & Staples Retailing (continued)

           
$ 5,000     

US Foods Inc.

     8.500%         6/30/19         CCC+       $ 5,475,000   
  8,300     

Total Food & Staples Retailing

                                9,132,000   
 

Food Products – 0.2%

           
  1,500     

JBS USA LLC, 144A

     8.250%         2/01/20         BB         1,627,500   
 

Gas Utilities – 0.2%

           
  2,000     

AmeriGas Finance LLC

     7.000%         5/20/22         Ba2         2,170,000   
 

Health Care Equipment & Supplies – 2.6%

           
  248     

Apria Healthcare Group Inc.

     12.375%         11/01/14         B–         250,170   
  1,500     

Biomet Inc.

     6.500%         8/01/20         B–         1,575,000   
  2,500     

Kinetic Concepts

     10.500%         11/01/18         B–         2,875,000   
  9,775     

Kinetic Concepts

     12.500%         11/01/19         CCC+         10,996,875   
  8,300     

Tenet Healthcare Corporation, 144A

     8.125%         4/01/22         B3         8,943,250   
  22,323     

Total Health Care Equipment & Supplies

                                24,640,295   
 

Health Care Providers & Services – 3.3%

           
  1,000     

Aviv Healthcare Properties LP

     7.750%         2/15/19         B+         1,075,000   
  1,000     

HCA Holdings Inc.

     6.250%         2/15/21         B–         1,046,250   
  7,500     

Iasis Healthcare Capital Corporation

     8.375%         5/15/19         CCC+         7,950,000   
  5,000     

Prospect Medical Holdings Inc., 144A

     8.375%         5/01/19         B–         5,362,500   
  1,385     

Symbion Inc.

     8.000%         6/15/16         B–         1,468,100   
  10,200     

Truven Health Analtyics Inc.

     10.625%         6/01/20         CCC+         11,538,750   
  2,000     

Universal Hospital Services Inc.

     7.625%         8/15/20         B+         2,110,000   
  28,085     

Total Health Care Providers & Services

                                30,550,600   
 

Health Care Technology – 0.9%

           
  7,500     

MedAssets Inc.

     8.000%         11/15/18         B         8,100,000   
 

Hotels, Restaurants & Leisure – 2.6%

           
  1,000     

Caesars Operating Escrow

     9.000%         2/15/20         B–         972,500   
  4,000     

Gaming and Leisure Products Inc., GLP Capital LP Financing II Inc., 144A

     4.375%         11/01/18         BBB–         4,090,000   
  7,750     

Landry’s Holdings

     10.250%         1/01/18         CCC+         8,224,688   
  2,000     

Landry’s Restaurants Inc., 144A

     9.375%         5/01/20         B3         2,180,000   
  1,200     

MGM Resorts International Inc.

     7.750%         3/15/22         B+         1,341,000   
  2,000     

Pinnacle Entertainment Inc.

     7.750%         4/01/22         B         2,180,000   
  2,875     

Pinnacle Finance Corporation, 144A

     6.375%         8/01/21         BB–         2,939,688   
  2,600     

Station Casinos LLC

     7.500%         3/01/21         CCC+         2,769,000   
  23,425     

Total Hotels, Restaurants & Leisure

                                24,696,876   
 

Household Durables – 0.5%

           
  1,950     

KB Home

     7.000%         12/15/21         B+         2,032,875   
  1,440     

Libbey Glass Inc.

     6.875%         5/15/20         BB–         1,555,200   

 

  4       Nuveen Investments


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

Household Durables (continued)

           
$ 1,000     

RSI Home Products Incorporated, 144A

     6.875%         3/01/18         B+       $ 1,047,500   
  4,390     

Total Household Durables

                                4,635,575   
 

Household Products – 0.4%

           
  3,000     

Serta Simmons Holdings LLC, 144A

     8.125%         10/01/20         CCC+         3,262,500   
  500     

Spectrum Brands Inc., 144A

     6.625%         11/15/22         BB–         531,875   
  3,500     

Total Household Products

                                3,794,375   
 

Independent Power Producers & Energy Traders – 0.2%

  

  650     

Calpine Corporation, 144A

     5.875%         1/15/24         BB+         635,375   
  1,500     

NRG Energy Inc.

     6.625%         3/15/23         BB–         1,511,250   
  2,150     

Total Independent Power Producers & Energy Traders

                                2,146,625   
 

Insurance – 0.9%

           
  2,000     

Fidelity & Guaranty Life Holdings Inc., 144A

     6.375%         4/01/21         BB–         2,100,000   
  6,000     

Hockey Merger Sub 2 Inc., 144A

     7.875%         10/01/21         CCC+         6,165,000   
  8,000     

Total Insurance

                                8,265,000   
 

IT Services – 1.4%

           
  3,000     

First Data Corporation, 144A

     7.375%         6/15/19         BB–         3,202,500   
  8,925     

First Data Corporation

     12.625%         1/15/21         B–         10,475,719   
  11,925     

Total IT Services

                                13,678,219   
 

Leisure Equipment & Products – 0.6%

           
  2,000     

PC Merger Sub Inc., 144A

     8.875%         8/01/20         BB–         2,240,000   
  2,980     

PC NextCo Holdings Finance, 144A

     8.750%         8/15/19         CCC+         3,058,225   
  4,980     

Total Leisure Equipment & Products

                                5,298,225   
 

Machinery – 0.9%

           
  1,750     

Cleaver-Brooks Inc., 144A

     8.750%         12/15/19         B         1,898,750   
  1,000     

Meritor Inc.

     6.750%         6/15/21         B–         1,020,000   
  2,000     

Terex Corporation

     6.000%         5/15/21         BB–         2,067,500   
  3,000     

Xerium Technologies

     8.875%         6/15/18         B         3,150,000   
  7,750     

Total Machinery

                                8,136,250   
 

Media – 4.8%

           
  4,000     

Cequel Communication Holdings I, 144A

     5.125%         12/15/21         B–         3,750,000   
  2,750     

Cequel Communications Holding I LLC Capital

     6.375%         9/15/20         B–         2,818,750   
  1,000     

Charter Communications, CCO Holdings LLC

     6.625%         1/31/22         BB–         1,030,000   
  14,082     

Clear Channel Communications, Inc., 144A

     14.000%         2/01/21         CCC–         12,779,090   
  109     

Clear Channel Communications, Inc.

     9.000%         12/15/19         CCC+         111,180   
  1,000     

Clear Channel Communications, Inc.

     11.250%         3/01/21         CCC+         1,075,000   
  500     

Clear Channel Worldwide, Series A

     7.625%         3/15/20         B         520,000   
  1,100     

Clear Channel Worldwide, Series B

     7.625%         3/15/20         B         1,156,375   
  2,900     

Dreamworks Animation SKG, 144A

     6.875%         8/15/20         Ba3         3,066,750   

 

Nuveen Investments     5   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund (continued)

 

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

Media (continued)

           
$ 2,000     

Expo Event Transco Inc., 144A

     9.000%         6/15/21         B–       $ 2,035,000   
  8,000     

McGraw-Hill Global Education Holdings, 144A

     9.750%         4/01/21         BB         8,840,000   
  1,000     

Mediacom LLC

     7.250%         2/15/22         B–         1,060,000   
  2,875     

Midcontinent Communications Finance Company, 144A

     6.250%         8/01/21         B–         2,896,563   
  500     

UnityMedia Hessen GmBH, 144A

     7.500%         3/15/19         BB–         543,750   
  1,000     

UPCB Finance Limited, 144A

     7.250%         11/15/21         BB         1,085,000   
  500     

UPCB Finance Limited, 144A

     6.875%         1/15/22         BB         531,250   
  2,000     

WideOpenWest Finance Capital Corporation

     10.250%         7/15/19         CCC+         2,220,000   
  45,316     

Total Media

                                45,518,708   
 

Metals & Mining – 0.2%

           
  1,000     

Global Brass and Copper, 144A

     9.500%         6/01/19         B         1,140,000   
  500     

Novellis Inc.

     8.750%         12/15/20         B         556,250   
  1,500     

Total Metals & Mining

                                1,696,250   
 

Oil, Gas & Consumable Fuels – 9.1%

           
  1,000     

Calumet Specialty Products

     9.375%         5/01/19         B+         1,110,000   
  1,522     

Chaparral Energy Inc.

     8.250%         9/01/21         B–         1,651,370   
  2,250     

Chaparral Energy Inc.

     7.625%         11/15/22         B–         2,407,500   
  4,700     

Clayton Williams Energy Inc., 144A

     7.750%         4/01/19         B3         4,829,250   
  4,750     

Crestwood Midstream Partners LP, 144A

     6.125%         3/01/22         BB         4,868,750   
  2,000     

Drill Rigs Holdings Inc., 144A

     6.500%         10/01/17         B         2,160,000   
  6,000     

Energy XXI Gulf Coast Inc.

     7.500%         12/15/21         B+         6,255,000   
  1,250     

Everest Acquisition LLC Finance, 144A

     7.750%         9/01/22         B         1,400,000   
  1,000     

Genesis Energy LP

     7.875%         12/15/18         B1         1,077,500   
  2,000     

Halcon Resources Corporation, 144A

     9.750%         7/15/20         CCC+         2,082,500   
  5,800     

Halcon Resources Corporation, 144A

     9.250%         2/15/22         CCC+         5,901,500   
  500     

Hercules Offshore LLC, 144A

     7.500%         10/01/21         B         530,000   
  2,000     

Laredo Petroleum Inc.

     7.375%         5/01/22         Ba2         2,170,000   
  3,000     

Linn Energy LLC Finance Corporation, 144A

     6.250%         11/01/19         B+         3,030,000   
  4,000     

Magnum Hunter Resources Corporation

     9.750%         5/15/20         CCC         4,320,000   
  500     

MEG Energy Corportation, 144A

     7.000%         3/31/24         BB         506,250   
  2,000     

Oasis Petroleum Inc.

     6.500%         11/01/21         B         2,140,000   
  3,000     

Ocean Rig UDW Inc.

     9.500%         4/27/16         CCC+         3,183,750   
  5,000     

Offshore Group Investment Limited

     7.125%         4/01/23         B–         5,100,000   
  2,750     

Penn Virginia Corporation

     8.500%         5/01/20         B–         2,956,250   
  2,000     

PetroBakken Energy Limited, 144A

     8.625%         2/01/20         B–         2,020,000   
  1,750     

Rosetta Resources Inc.

     5.625%         5/01/21         BB–         1,745,625   
  1,950     

Sanchez Energy Corporation, 144A

     7.750%         6/15/21         CCC+         1,993,875   
  5,000     

Sandridge Energy Inc.

     7.500%         2/15/23         B2         5,075,000   

 

  6       Nuveen Investments


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

Oil, Gas & Consumable Fuels (continued)

           
$ 2,600     

Shelf Drill Holdings Limited, 144A

     8.625%         11/01/18         B+       $ 2,808,000   
  6,000     

Talos Production LLC, 144A

     9.750%         2/15/18         CCC+         6,135,000   
  1,970     

Tesoro Logistics LP Finance Corporation

     6.125%         10/15/21         BB–         2,029,100   
  6,000     

Venoco Inc.

     8.875%         2/15/19         CCC+         5,910,000   
  82,292     

Total Oil, Gas & Consumable Fuels

                                85,396,220   
 

Personal Products – 0.2%

           
  1,000     

Prestige Brands Inc.

     8.125%         2/01/20         B+         1,120,000   
  1,300     

Revlon Consumer Products

     5.750%         2/15/21         B         1,282,125   
  2,300     

Total Personal Products

                                2,402,125   
 

Pharmaceuticals – 1.2%

           
  5,700     

Par Pharmaceutical Companies Inc.

     7.375%         10/15/20         B–         5,892,375   
  2,100     

Salix Pharmaceuticals Limited, 144A

     6.000%         1/15/21         B         2,152,500   
  2,900     

VPII Escrow Corporation, 144A

     7.500%         7/15/21         B1         3,182,750   
  10,700     

Total Pharmaceuticals

                                11,227,625   
 

Real Estate Investment Trust – 0.3%

           
  1,200     

iStar Financial Inc.

     9.000%         6/01/17         B+         1,405,500   
  1,250     

iStar Financial Inc.

     4.875%         7/01/18         B+         1,245,313   
  2,450     

Total Real Estate Investment Trust

                                2,650,813   
 

Real Estate Management & Development – 0.1%

  

  1,000     

Realogy Group / Sun Group Florida, 144A

     3.375%         5/01/16         B–         1,007,500   
 

Road & Rail – 0.7%

           
  1,000     

Avis Budget Car Rental

     8.250%         1/15/19         BB–         1,090,000   
  5,000     

Kenan Advantage Group, 144A

     8.375%         12/15/18         B–         5,262,500   
  500     

Swift Services Holdings Inc.

     10.000%         11/15/18         B+         556,250   
  6,500     

Total Road & Rail

                                6,908,750   
 

Semiconductors & Equipment – 2.5%

           
  3,500     

Advanced Micro Devices, Inc.

     7.750%         8/01/20         B         3,473,750   
  10,500     

Advanced Micro Devices, Inc.

     7.500%         8/15/22         B         10,185,000   
  10,000     

Freescale Semiconductor Inc., 144A

     6.000%         1/15/22         B1         10,125,000   
  24,000     

Total Semiconductors & Equipment

                                23,783,750   
 

Software – 1.9%

           
  6,800     

Audatex North America Inc., 144A

     6.125%         11/01/23         Ba2         7,004,000   
  1,750     

BMC Software Finance Inc., 144A

     8.125%         7/15/21         B–         1,802,500   
  400     

Emdeon Inc.

     11.000%         12/31/19         CCC+         462,000   
  3,300     

First Data Corporation, 144A (WI/DD)

     11.750%         8/15/21         CCC+         3,481,500   
  2,000     

First Data Corporation

     10.625%         6/15/21         B–         2,167,500   
  850     

Infor Us Inc.

     11.500%         7/15/18         B–         979,625   
  750     

Infor Us Inc.

     9.375%         4/01/19         B–         843,750   

 

Nuveen Investments     7   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund (continued)

 

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

Software (continued)

           
$ 1,500     

Sungard Data Systems Inc.

     6.625%         11/01/19         B–       $ 1,575,000   
  17,350     

Total Software

                                18,315,875   
 

Specialty Retail – 2.3%

           
  1,008     

Burlington Holding LLC Finance, Payment in Kind

     9.000%         2/15/18         CCC+         1,033,200   
  10,350     

Chino Intermediate Holdings A Inc., 144A

     7.750%         5/01/19         CCC+         10,582,875   
  3,000     

Claires Stores, Inc., 144A

     9.000%         3/15/19         B2         3,255,000   
  1,000     

Claires Stores, Inc.

     10.500%         6/01/17         CCC         1,025,000   
  1,000     

Claires Stores, Inc.

     8.875%         3/15/19         BB–         1,030,000   
  2,850     

Jo-Ann Stores Holdings Inc.

     9.750%         10/15/19         CCC+         2,981,813   
  1,900     

Michaels FinCo Holdings LLC, 144A

     7.500%         8/01/18         CCC+         1,976,000   
  21,108     

Total Specialty Retail

                                21,883,888   
 

Textiles, Apparel & Luxury Goods – 1.4%

           
  4,000     

Fifth & Pacific Company Inc.

     10.500%         4/15/19         CCC+         4,315,000   
  2,000     

Levi Strauss & Company

     6.875%         5/01/22         BB–         2,200,000   
  1,000     

Perry Ellis International

     7.875%         4/01/19         B+         1,065,000   
  2,875     

Quicksilver Inc / QS Wholesale Inc.

     7.875%         8/01/18         B2         3,119,375   
  2,400     

Springs Industries Inc-SIWF Merger Sub

     6.250%         6/01/21         B         2,421,000   
  12,275     

Total Textiles, Apparel & Luxury Goods

                                13,120,375   
 

Thrifts & Mortgage Finance – 0.2%

           
  1,500     

Nationstar Mortgage LLC Capital Corporation

     6.500%         7/01/21         B+         1,428,750   
 

Trading Companies & Distributors – 0.3%

           
  2,000     

Rexel SA, 144A

     5.250%         6/15/20         BB         2,010,000   
  1,200     

United Rentals North America Inc.

     7.375%         5/15/20         BB–         1,330,500   
  3,200     

Total Trading Companies & Distributors

                                3,340,500   
 

Transportation Infrastructure – 0.1%

           
  900     

Flexi-Van Leasing Inc., 144A

     7.875%         8/15/18         BB–         954,000   
 

Wireless Telecommunication Services – 4.3%

  

  2,000     

CenturyLink Inc.

     5.625%         4/01/20         BB+         2,035,000   
  4,000     

Digicel Group, Limited, 144A

     8.250%         9/30/20         B–         4,145,000   
  2,000     

Digicel Limited, 144A

     6.000%         4/15/21         B1         1,930,000   
  4,000     

FairPoint Communications Inc., 144A

     8.750%         8/15/19         B         4,240,000   
  1,700     

MetroPCS Wireless Inc., 144A

     6.250%         4/01/21         BB         1,763,750   
  3,500     

MetroPCS Wireless Inc., 144A

     6.625%         4/01/23         BB         3,613,750   
  11,700     

Sprint Corporation, 144A

     7.875%         9/15/23         BB–         12,577,500   
  7,000     

Sprint Corporation, 144A

     7.125%         6/15/24         BB–         7,105,000   
  1,000     

Syniverse Holdings Inc.

     9.125%         1/15/19         B–         1,092,500   
  900     

T-Mobile USA Inc.

     6.731%         4/28/22         BB         938,250   

 

  8       Nuveen Investments


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

Wireless Telecommunication Services (continued)

  

$ 900     

T-Mobile USA Inc.

     6.836%         4/28/23         BB       $ 933,746   
  38,700     

Total Wireless Telecommunication Services

  

                       40,374,496   
$ 564,593     

Total Corporate Bonds (cost $569,741,232)

  

                       591,175,784   
Principal
Amount (000)
    Description (1)    Coupon      Maturity (4)      Ratings (3)      Value  
 

VARIABLE RATE SENIOR LOAN INTERESTS – 30.0% (5)

  

 

Aerospace & Defense – 0.1%

           
$ 286     

Beechcraft Holdings LLC, Exit Term Loan B

     5.750%         2/15/20         BB–       $ 289,048   
  858     

Hamilton Sundstrand, Term Loan, First Lien

     4.000%         12/13/19         B+         859,836   
  1,144     

Total Aerospace & Defense

                                1,148,884   
 

Airlines – 1.6%

           
  12,709     

American Airlines Inc., Term Loan, DD1

     3.750%         6/16/19         Ba2         12,823,910   
  496     

United Airlines Inc., Term Loan B

     4.000%         4/01/19         Ba2         500,898   
  2,000     

US Airways Group Inc., Term Loan B1

     4.000%         5/23/19         Ba2         2,016,666   
  15,205     

Total Airlines

                                15,341,474   
 

Auto Components – 0.7%

           
  4,107     

Federal-Mogul Corporation, Tranche B, Term Loan

     2.108%         12/29/14         B1         4,055,017   
  2,417     

Federal-Mogul Corporation, Tranche C, Term Loan

     2.108%         12/28/15         B1         2,386,349   
  6,524     

Total Auto Components

                                6,441,366   
 

Biotechnology – 0.0%

           
  291     

Grifols Inc., Term Loan

     4.250%         6/01/17         Ba1         292,995   
 

Capital Markets – 0.4%

           
  661     

American Capital LTD., Term Loan, First Lien

     4.000%         8/22/16         BB–         664,003   
  998     

Guggenheim Partners LLC, Initial Term Loan

     4.250%         7/22/20         N/R         1,008,218   
  1,742     

Walter Investment Management Corporation, Tranche B, Term Loan, First Lien

     4.750%         12/18/20         B+         1,751,864   
  3,401     

Total Capital Markets

                                3,424,085   
 

Chemicals – 0.1%

           
  485     

Univar, Inc., Term Loan

     5.000%         6/30/17         B+         480,917   
 

Commercial Services & Supplies – 1.8%

  

  13,999     

Education Management LLC, Tranche C2, Term Loan, DD1

     4.250%         6/01/16         B–         13,474,317   
  2,944     

Harland Clarke Holdings Corporation, Term Loan B3

     7.000%         5/22/18         B+         2,972,976   
  16,943     

Total Commercial Services & Supplies

                                16,447,293   
 

Communications Equipment – 2.2%

           
  5,970     

Alcatel-Lucent Inc., Term Loan C

     5.750%         1/30/19         B+         6,011,551   
  14,672     

Avaya Inc., Term Loan, B3, DD1

     4.736%         10/26/17         B1         14,348,118   
  20,642     

Total Communications Equipment

                                20,359,669   

 

Nuveen Investments     9   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund (continued)

 

Principal
Amount (000)
    Description (1)    Coupon      Maturity (4)      Ratings (3)      Value  
 

Computers & Peripherals – 1.1%

           
$ 10,000     

Dell Inc., Term Loan B

     4.500%         4/29/20         BB+       $ 10,037,500   
 

Containers & Packaging – 0.4%

           
  4,000     

Berry Plastics Corporation, Term Loan E

     3.750%         12/18/20         B+         4,002,856   
 

Distributors – 0.1%

           
  1,231     

HD Supply Inc., Term Loan B

     4.500%         10/12/17         B+         1,244,018   
 

Diversified Consumer Services – 2.5%

           
  990     

Cengage Learning Acquisitions Inc., Term Loan, (6)

     0.000%         7/03/14         D         776,759   
  2,491     

Ceridian Corporation, New Replacement Term Loan

     4.415%         8/14/15         B1         2,505,168   
  16,684     

Hilton Hotels Corporation, Term Loan B2

     3.750%         10/25/20         BB         16,837,155   
  1,985     

Laureate Education, Inc., Term Loan B

     5.000%         6/16/18         B1         1,999,276   
  202     

Pinnacle Entertainment Inc., Term Loan B1

     3.750%         8/15/16         BB+         203,444   
  995     

Pinnacle Entertainment Inc., Term Loan B2

     3.750%         8/13/20         BB+         1,001,219   
  23,347     

Total Diversified Consumer Services

                                23,323,021   
 

Diversified Financial Services – 0.4%

           
  1,493     

Home Loan Servicing Solutions Ltd., Term Loan B

     4.500%         6/26/20         BB–         1,505,559   
  2,390     

WideOpenWest Finance LLC, Term Loan B

     4.750%         4/01/19         B1         2,404,641   
  3,883     

Total Diversified Financial Services

                                3,910,200   
 

Diversified Other – 0.6%

           
  4,988     

Rexnord LLC, Term Loan B

     4.000%         8/21/20         B+         5,005,146   
 

Food & Staples Retailing – 1.0%

           
  602     

Albertson’s LLC, Term Loan B1

     4.250%         3/21/16         BB–         606,902   
  393     

Albertsons LLC Term Loan B2

     4.750%         3/21/19         BB–         395,809   
  1,641     

BJ’s Wholesale Club Inc., Replacement Loan, First Lien

     4.500%         9/26/19         B–         1,653,178   
  1,000     

BJ’s Wholesale Club Inc., Replacement Loan, Second Lien

     8.500%         3/31/20         CCC         1,023,000   
  4,000     

Rite Aid Corporation, Tranche 1, Term Loan, Second Lien

     5.750%         8/21/20         B         4,117,500   
  495     

Supervalu Inc., Term Loan B

     5.000%         3/21/19         B+         500,243   
  1,406     

Wilton Products Inc., Tranche B, Term Loan

     7.500%         8/30/18         B–         1,344,140   
  9,537     

Total Food & Staples Retailing

                                9,640,772   
 

Food Products – 0.5%

           
  990     

Advanced Pierre Foods, Inc., Term Loan, First Lien

     5.750%         7/10/17         B1         979,481   
  900     

Advanced Pierre Foods Inc., Term Loan, Second Lien

     9.500%         10/10/17         CCC+         873,000   
  2,429     

U.S. Foods, Inc. Incremental Term Loan

     4.500%         3/31/19         B2         2,451,018   
  4,319     

Total Food Products

                                4,303,499   
 

Health Care Equipment & Supplies – 0.5%

           
  2,000     

Onex Carestream Finance, LP, Term Loan, Second Lien

     9.500%         12/07/19         B–         2,032,500   
  702     

Hologic Refinancing Term Loan, Tranche B

     3.750%         8/01/19         BBB–         707,365   
  1,995     

Kinetic Concepts Inc., Term Loan D1

     4.500%         5/04/18         BB–         2,012,850   
  4,697     

Total Health Care Equipment & Supplies

                                4,752,715   

 

  10       Nuveen Investments


Principal
Amount (000)
    Description (1)    Coupon      Maturity (4)      Ratings (3)      Value  
 

Health Care Providers & Services – 1.1%

           
$ 4,975     

Apria Healthcare Group Inc., Term Loan, First Lien

     6.750%         4/06/20         BB–       $ 4,999,875   
  926     

Bioscrip Inc., Delayed Draw, Term Loan

     6.500%         7/31/20         B         922,310   
  456     

IASIS Healthcare LLC, Term B2, First Lien

     4.500%         5/03/18         Ba3         459,266   
  740     

National Mentor Holdings Inc., Term Loan B

     6.500%         2/09/17         B+         747,894   
  924     

Select Medical Corporation, Term Loan B

     4.000%         6/01/18         Ba2         930,065   
  1,970     

Sheridan Holdings Inc., Term Loan, First Lien

     4.500%         6/29/18         B1         1,984,573   
  447     

Skilled Healthcare Group, Term Loan

     6.750%         4/09/16         B         447,086   
  10,438     

Total Health Care Providers & Services

                                10,491,069   
 

Hotels, Restaurants & Leisure – 1.2%

           
  4,988     

Bally Technologies Inc., Term Loan B

     4.250%         11/25/20         BB         5,029,021   
  2,000     

Caesars Entertainment Operating Company Inc., Term Loan B6

     5.488%         1/28/18         B–         1,913,588   
  1,000     

CityCenter Holdings LLC, Term Loan B

     5.000%         10/16/20         B+         1,016,514   
  1,433     

Landry’s Restaurants Inc., Term Loan B

     4.000%         4/24/18         BB–         1,445,862   
  1,987     

Station Casinos LLC, Term Loan B

     5.000%         3/02/20         B1         2,012,641   
  11,408     

Total Hotels, Restaurants & Leisure

                                11,417,626   
 

Household Durables – 0.5%

           
  1,454     

AOT Bedding Super Holdings LLC, Term Loan B

     4.250%         10/01/19         B+         1,465,301   
  708     

Reynolds Group Holdings Inc., Incremental US Term Loan, First Lien

     4.000%         12/01/18         B+         715,287   
  1,663     

Sun Products Corporation, Term Loan

     5.500%         3/23/20         B1         1,579,609   
  807     

Tempur-Pedic International Inc., New Term B Loan

     3.500%         3/18/20         BB         807,990   
  4,632     

Total Household Durables

                                4,568,187   
 

Household Products – 0.6%

           
  4,906     

Spectrum Brands Inc., Term Loan A

     3.000%         9/04/17         BB         4,924,629   
  998     

Spectrum Brands Inc., Term Loan C

     3.500%         9/04/19         BB         1,002,276   
  5,904     

Total Household Products

                                5,926,905   
 

Internet Software & Services – 0.5%

           
  2,147     

EIG Investors Corp., Term Loan

     5.000%         11/09/19         B         2,162,095   
  1,733     

Sabre Inc., Term Loan B

     5.250%         2/19/19         B1         1,747,505   
  386     

VFH Parrent LLC, New Term Loan

     5.750%         11/08/19         N/R         389,995   
  4,266     

Total Internet Software & Services

                                4,299,595   
 

IT Services – 0.4%

           
  658     

CompuCom Systems Inc., Term Loan B

     4.250%         5/09/20         B1         658,559   
  606     

SRA International Inc., Term Loan

     6.500%         7/20/18         B1         601,327   
  1,489     

SunGuard Data Systems Inc., Term Loan E

     4.000%         3/08/20         BB         1,502,475   
  561     

Zayo Group LLC, Term Loan B

     4.000%         7/02/19         B1         562,328   
  3,314     

Total IT Services

                                3,324,689   
 

Leisure Equipment & Products – 0.2%

           
  1,995     

Boyd Gaming Corporation, Term Loan B

     4.000%         8/14/20         BB–         2,008,301   

 

Nuveen Investments     11   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund (continued)

 

Principal
Amount (000)
    Description (1)    Coupon      Maturity (4)      Ratings (3)      Value  
 

Machinery – 1.3%

           
$ 8,978     

Gardner Denver Inc., Term Loan, DD1

     4.250%         7/30/20         B1       $ 9,005,555   
  3,320     

Xerium Technologies Inc., Initial Term Loan

     5.750%         5/17/19         BB–         3,340,742   
  12,298     

Total Machinery

                                12,346,297   
 

Media – 5.2%

           
  1,736     

Clear Channel Communications Inc., Term Loan E

     7.669%         7/30/19         CCC+         1,714,647   
  205     

Clear Channel Communications, Inc., Tranche D, Term Loan

     6.919%         1/30/19         CCC+         195,980   
  8,000     

Cumulus Media, Inc., Term Loan B

     4.250%         12/20/20         B+         8,070,000   
  1,990     

Emerald Expositions Holdings Inc., Term Loan, First Lien

     5.500%         6/17/20         BB–         2,003,681   
  993     

Internet Brands Inc., Term Loan B

     6.250%         3/18/19         B+         997,462   
  1,785     

McGraw-Hill Education Holding LLC, Term Loan

     9.000%         3/22/19         B2         1,822,485   
  1,000     

Media General Inc., Delayed Draw Term Loan

     4.250%         7/31/20         BB–         1,011,244   
  2,993     

Springer Science & Business Media, Inc., Term Loan

     5.000%         8/14/20         B         3,013,073   
  30,000     

Tribune Company, Term Loan B, (WI/DD)

     TBD         TBD         BB–         29,909,370   
  500     

Weather Channel Corporation, Term Loan, Second Lien

     7.000%         6/26/20         B3         515,000   
  49,202     

Total Media

                                49,252,942   
 

Multiline Retail – 0.2%

           
  2,000     

Hudsons Bay Company, Term Loan B, First Lien

     4.750%         11/04/20         BB         2,034,306   
 

Oil, Gas & Consumable Fuels – 1.1%

           
  1,995     

Fieldwood Energy LLC, Term Loan, First Lien

     3.875%         9/28/18         Ba2         2,012,871   
  2,000     

Fieldwood Energy LLC, Term Loan, Second Lien

     8.375%         9/30/20         B2         2,046,428   
  2,993     

Harvey Gulf International Marine, Inc., Term Loan B

     5.500%         6/18/20         B1         3,024,295   
  3,491     

Drill Rigs Holding, Inc., Tranche B1, Term Loan

     6.000%         3/31/21         B+         3,576,349   
  10,479     

Total Oil, Gas & Consumable Fuels

                                10,659,943   
 

Personal Products – 0.0%

           
  225     

Prestige Brands, Inc., Term Loan B1

     3.750%         1/31/19         BB         226,687   
 

Pharmaceuticals – 0.5%

           
  555     

Bioscrip Inc., Term Loan B

     6.500%         7/31/20         B         553,386   
  263     

ConvaTec Healthcare Incremental, Term Loan B

     4.000%         12/22/16         Ba3         264,495   
  16     

Graceway Pharmaceuticals LLC, Term Loan, (6)

     0.000%         5/03/12         N/R         18,093   
  490     

Pharmaceutical Product Development Inc., Term Loan B, First Lien

     4.000%         12/01/18         Ba3         494,101   
  1,496     

Pharmaceutical Research Associates, Inc., Term Loan B

     5.000%         9/23/20         B1         1,503,570   
  1,985     

Valeant Pharmaceuticals International, Inc., Term Loan BE, (WI/DD)

     TBD         TBD         Ba1         2,001,749   
  4,805     

Total Pharmaceuticals

                                4,835,394   
 

Real Estate Investment Trust – 0.4%

           
  2,500     

Capital Automotive LP, Term Loan, Second Lien

     6.000%         4/30/20         B1         2,587,500   
  1,137     

iStar Financial Inc., Term Loan

     4.500%         10/15/17         BB–         1,145,038   
  3,637     

Total Real Estate Investment Trust

                                3,732,538   

 

  12       Nuveen Investments


Principal
Amount (000)
    Description (1)    Coupon      Maturity (4)      Ratings (3)      Value  
 

Real Estate Management & Development – 0.2%

  

$ 330     

Capital Automotive LP, Term Loan, Tranche B1

     4.000%         4/10/19         Ba2       $ 333,050   
  1,489     

Realogy Corporation, Term Loan B

     4.500%         3/05/20         BB–         1,506,197   
  1,819     

Total Real Estate Management & Development

  

                       1,839,247   
 

Road & Rail – 0.0%

           
  269     

Swift Transportation Company, Inc., Term Loan B2

     4.000%         12/21/17         BB         271,704   
 

Semiconductors & Equipment – 0.2%

           
  1,746     

Freescale Semiconductor, Inc., Term Loan Tranche B5

     5.000%         1/15/21         B1         1,768,348   
 

Software – 1.5%

           
  1,995     

Activision Blizzard Inc., Term Loan B

     3.250%         10/12/20         BBB         2,010,489   
  1,451     

Attachmate Corporation, Term Loan, First Lien

     7.250%         11/22/17         BB–         1,477,600   
  450     

Blackboard Inc., Term Loan B2

     4.750%         10/04/18         B+         455,919   
  3,000     

BMC Software Inc., Initial Term Loan

     5.000%         9/10/20         BB–         3,019,869   
  419     

Datatel Parent Corp., Term Loan B

     4.500%         7/19/18         B+         421,875   
  500     

Deltek Inc., Term Loan, Second Lien

     10.000%         10/10/19         CCC+         510,000   
  4,061     

Infor Global Solutions Intermediate Holdings Ltd., Term Loan B5, (WI/DD)

     TBD         TBD         Ba3         4,069,159   
  1,061     

Infor Enterprise Applications, Term Loan B

     5.250%         4/5/2018         Ba3         1,067,779   
  995     

Misys PLC, Term Loan B, First Lien

     5.000%         12/12/18         B+         1,003,671   
  13,932     

Total Software

                                14,036,361   
 

Specialty Retail – 0.2%

           
  1,315     

Collective Brands Inc., Term Loan B

     7.250%         10/09/19         B         1,323,083   
  438     

Jo-Ann Stores Inc., Term Loan, First Lien

     4.000%         3/16/18         B+         439,610   
  1,753     

Total Specialty Retail

                                1,762,693   
 

Wireless Telecommunication Services – 0.7%

  

  3,424     

Clear Channel Communications Inc., Tranche B, Term Loan, DD1

     3.819%         1/29/16         CCC+         3,326,378   
  1,493     

Cricket Communications Inc., Term Loan C

     4.750%         3/08/20         Ba3         1,497,831   
  1,975     

IPC Systems, Inc., Term Loan, Tranche C, First Lien

     7.750%         7/31/17         B1         1,969,449   
  6,892     

Total Wireless Telecommunication Services

                                6,793,658   
$ 281,651     

Total Variable Rate Senior Loan Interests (cost $278,732,547)

  

              281,752,900   
 

Total Long-Term Investments (cost $851,922,261)

  

                       876,715,347   
Principal
Amount (000)
    Description (1)    Coupon      Maturity               Value  
 

SHORT-TERM INVESTMENTS – 9.9%

           
$ 93,078     

Repurchase Agreement with State Street Bank, dated 12/31/13, repurchase
price $93,077,582, collateralized by $97,085,000 U.S. Treasury Notes,
2.125%, due 8/15/21, value $94,940,489

     0.000%         1/02/14                $ 93,077,582   

 

 

               
 

Total Short-Term Investments (cost $93,077,582)

  

                       93,077,582   
 

Total Investments (cost $944,999,843) – 103.2%

  

                       969,792,929   
 

Other Assets Less Liabilities – (3.2)%

                                (30,002,276
 

Net Assets – 100%

                              $ 939,790,653   

 

Nuveen Investments     13   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Credit Opportunities Fund (continued)

 

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

         Level 1        Level 2        Level 3      Total  
Long-Term Investments:                  

Common Stocks

     $         $         $    $   

$1,000 Par (or similar) Institutional Structures

                 1,095,000                   1,095,000   

Convertible Bonds

                 2,691,663                   2,691,663   

Corporate Bonds

                 591,175,784                   591,175,784   

Variable Rate Senior Loan Interests

                 281,752,900                   281,752,900   
Short-Term Investments:                  

Repurchase Agreements

                 93,077,582                   93,077,582   
Total      $  —         $ 969,792,929         $  —    $ 969,792,929   
* Value equals zero as of the end of the reporting period.

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

As of December 31, 2013, the cost of investments was $945,939,161.

Gross unrealized appreciation and gross unrealized depreciation of investments as of December 31, 2013, were as follows:

 

Gross unrealized:           

Appreciation

     $ 26,173,176   

Depreciation

       (2,319,408
Net unrealized appreciation (depreciation) of investments      $ 23,853,768   

 

  14       Nuveen Investments


 

 

 

  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) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees. For fair value measurement disclosure purposes, investment classified as Level 3.

 

(3) Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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.

 

(4) 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.

 

(5) Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan.

 

(6) At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.

 

DD1 Portion of investment purchased on a delayed delivery basis.

 

WI/DD Purchased on a when-issued or delayed delivery basis.

 

144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

 

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. As of settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date.

 

Nuveen Investments     15   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Floating Rate Income Fund

 

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

LONG-TERM INVESTMENTS – 95.6%

           
 

CORPORATE BONDS – 17.0%

           
 

Commercial Services & Supplies – 0.2%

           
$ 500     

Ceridian Corporation

     12.250%         11/15/15         CCC       $ 503,750   
  1,000     

Harland Clarke Holdings

     9.500%         5/15/15         B–         1,005,000   
  1,500     

Total Commercial Services & Supplies

                                1,508,750   
 

Distributors – 0.4%

           
  2,500     

HD Supply Inc.

     11.500%         7/15/20         CCC+         2,984,375   
 

Diversified Consumer Services – 0.3%

  

  2,000     

NES Rental Holdings Inc., 144A

     7.875%         5/01/18         CCC+         2,105,000   
 

Diversified Financial Services – 0.1%

           
  850     

UPCB Finance Limited, 144A

     6.625%         7/01/20         BB         903,125   
 

Diversified Telecommunication Services – 2.6%

  

  4,100     

IntelSat Limited, 144A

     7.750%         6/01/21         B–         4,397,250   
  5,950     

IntelSat Limited

     8.125%         6/01/23         B–         6,381,375   
  6,750     

Level 3 Communications Inc.

     11.875%         2/01/19         B–         7,762,500   
  16,800     

Total Diversified Telecommunication Services

  

     18,541,125   
 

Health Care Equipment & Supplies – 1.9%

           
  3,500     

Convatec Finance International SA, 144A

     8.250%         1/15/19         B–         3,583,125   
  4,325     

Kinetic Concepts

     10.500%         11/01/18         B–         4,973,750   
  2,500     

Kinetic Concepts

     12.500%         11/01/19         CCC+         2,812,500   
  2,000     

Tenet Healthcare Corporation

     8.125%         4/01/22         B3         2,155,000   
  12,325     

Total Health Care Equipment & Supplies

                                13,524,375   
 

Health Care Providers & Services – 2.1%

           
  4,500     

IASIS Healthcare Capital Corporation

     8.375%         5/15/19         CCC+         4,770,000   
  6,000     

Tenet Healthcare Corporation, 144A

     6.000%         10/01/20         BB         6,262,500   
  3,619     

Truven Health Analtyics Inc.

     10.625%         6/01/20         CCC+         4,093,994   
  14,119     

Total Health Care Providers & Services

                                15,126,494   
 

Hotels, Restaurants & Leisure – 0.5%

           
  250     

Caesars Operating Escrow

     9.000%         2/15/20         B–         243,125   
  3,000     

MGM Resorts International Inc.

     7.750%         3/15/22         B+         3,352,500   
  3,250     

Total Hotels, Restaurants & Leisure

                                3,595,625   
 

Household Products – 1.3%

           
  7,200     

Reynolds Group

     9.875%         8/15/19         CCC+         8,010,000   

 

  16       Nuveen Investments


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

Household Products (continued)

           
$ 1,250     

Sprectum Brands Inc., 144A

     6.625%         11/15/22         BB–       $ 1,329,688   
  8,450     

Total Household Products

                                9,339,688   
 

Machinery – 0.2%

           
  1,530     

Xerium Technologies

     8.875%         6/15/18         B         1,606,500   
 

Media – 1.6%

           
  3,000     

Cequel Communications Holding I LLC Capital

     6.375%         9/15/20         B–         3,075,000   
  4,500     

Clear Channel Communications, Inc., 144A

     14.000%         2/01/21         CCC–         4,083,750   
  2,091     

Clear Channel Communications, Inc.

     9.000%         12/15/19         CCC+         2,132,820   
  500     

Expo Event Transco Inc., 144A

     9.000%         6/15/21         B–         508,750   
  1,500     

WideOpenWest Finance Capital Corporation

     10.250%         7/15/19         CCC+         1,665,000   
  11,591     

Total Media

                                11,465,320   
 

Oil, Gas & Consumable Fuels – 1.1%

           
  2,000     

Chaparral Energy Inc.

     7.625%         11/15/22         B–         2,140,000   
  2,500     

Halcon Resources Corporation, 144A

     9.250%         2/15/22         CCC+         2,543,750   
  3,250     

Offshore Group Investment Limited

     7.125%         4/01/23         B–         3,315,000   
  7,750     

Total Oil, Gas & Consumable Fuels

                                7,998,750   
 

Pharmaceuticals – 0.4%

           
  1,750     

Endo Pharmaceutical Holdings Inc.

     7.250%         1/15/22         B1         1,872,500   
  1,000     

VPII Escrow Corporation, 144A

     7.500%         7/15/21         B1         1,097,500   
  2,750     

Total Pharmaceuticals

                                2,970,000   
 

Semiconductors & Equipment – 1.1%

           
  2,200     

Advanced Micro Devices, Inc.

     7.750%         8/01/20         B         2,183,500   
  5,416     

Advanced Micro Devices, Inc.

     7.500%         8/15/22         B         5,253,520   
  7,616     

Total Semiconductors & Equipment

                                7,437,020   
 

Software – 0.3%

           
  1,500     

Emdeon Inc.

     11.000%         12/31/19         CCC+         1,732,500   
 

Thrifts & Mortgage Finance – 0.0%

           
  250     

Nationstar Mortgage LLC Capital Corporation

     6.500%         7/01/21         B+         238,125   
 

Wireless Telecommunication Services – 2.9%

  

  1,750     

MetroPCS Wireless Inc., 144A

     6.250%         4/01/21         BB         1,815,625   
  1,250     

MetroPCS Wireless Inc., 144A

     6.625%         4/01/23         BB         1,290,625   
  16,000     

Sprint Corporation, 144A

     7.875%         9/15/23         BB–         17,200,000   
  275     

T-Mobile USA Inc.

     6.731%         4/28/22         BB         286,688   
  275     

T-Mobile USA Inc.

     6.836%         4/28/23         BB         285,311   
  19,550     

Total Wireless Telecommunication Services

  

     20,878,249   
$ 114,331     

Total Corporate Bonds (cost $119,024,096)

  

     121,955,021   

 

Nuveen Investments     17   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Floating Rate Income Fund (continued)

 

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

VARIABLE RATE SENIOR LOAN INTERESTS – 78.6% (4)

  

 

Aerospace & Defense – 0.3%

           
$ 490     

Hamilton Sundstrand, Term Loan, First Lien

     4.000%         12/13/19         B+       $ 490,982   
  1,735     

Sequa Corporation, Term Loan B

     5.250%         6/19/17         B         1,699,197   
  2,225     

Total Aerospace & Defense

                                2,190,179   
 

Airlines – 2.1%

           
  7,960     

American Airlines Inc., Exit Term Loan

     3.750%         6/16/19         Ba2         8,032,141   
  2,133     

Delta Air Lines Inc., Term Loan B1

     4.000%         10/18/18         Ba1         2,145,965   
  4,750     

US Airways Group Inc., Term Loan B1

     4.000%         5/23/19         Ba2         4,789,582   
  14,843     

Total Airlines

                                14,967,688   
 

Auto Components – 1.4%

           
  3,995     

Allison Transmission Inc., Term Loan B3, DD1

     3.750%         8/23/19         BB–         4,022,453   
  4,228     

Federal-Mogul Corporation, Tranche B, Term Loan

     2.108%         12/29/14         B1         4,174,732   
  2,229     

Federal Mogul Corporation, Tranche C, Term Loan

     2.108%         12/28/15         B1         2,201,227   
  10,452     

Total Auto Components

                                10,398,412   
 

Building Products – 1.5%

           
  3,990     

CPG International Inc., Term Loan

     4.750%         9/30/20         B         4,014,938   
  2,494     

Quikrete Holdings Inc., Term Loan, First Lien

     4.000%         9/28/20         B+         2,510,104   
  4,000     

Quikrete Holdings Inc., Term Loan, Second Lien

     7.000%         3/26/21         B–         4,105,000   
  10,484     

Total Building Products

                                10,630,042   
 

Capital Markets – 0.8%

           
  165     

American Capital LTD., Term Loan, First Lien

     4.000%         8/22/16         BB–         166,001   
  1,746     

Guggenheim Partners LLC, Initial Term Loan

     4.250%         7/22/20         N/R         1,764,382   
  3,934     

Walter Investment Management Corporation, Tranche B, Term Loan

     4.750%         12/18/20         B+         3,955,399   
  5,845     

Total Capital Markets

                                5,885,782   
 

Chemicals – 0.3%

           
  2,088     

Ineos US Finance LLC, Term Loan, First Lien

     4.000%         5/04/18         BB–         2,097,460   
 

Commercial Services & Supplies – 1.8%

           
  4,729     

Education Management LLC, Tranche C2, Term Loan

     4.250%         6/01/16         B–         4,551,499   
  6,009     

Harland Clarke Holdings, Term Loan B3

     7.000%         5/22/18         B+         6,068,677   
  1,999     

Tervita Corporation, Term Loan B

     6.250%         5/12/18         B–         2,009,643   
  12,737     

Total Commercial Services & Supplies

                                12,629,819   
 

Communications Equipment – 1.5%

           
  4,216     

Alcatel-Lucent, Inc., Term Loan C

     5.750%         1/30/19         B+         4,245,593   
  975     

Aspect Software Inc., Term Loan B

     7.000%         5/07/16         B1         980,777   
  4,985     

Avaya Inc., Term Loan B3

     4.736%         10/26/17         B1         4,875,356   
  235     

Cricket Communications, Inc., Term Loan B

     4.750%         10/10/19         Ba3         236,203   
  242     

Syniverse Technologies Inc., Tranche B, Term Loan

     4.000%         4/23/19         BB–         243,592   
  10,653     

Total Communications Equipment

                                10,581,521   

 

  18       Nuveen Investments


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

Computers & Peripherals – 1.4%

           
$ 10,000     

Dell Inc., Term Loan B

     4.500%         4/29/20         BB+       $ 10,037,500   
 

Construction Materials – 0.7%

           
  5,000     

Polymer Group Inc., Term Loan, (WI/DD)

     TBD         TBD         B1         5,037,500   
 

Containers & Packaging – 0.7%

           
  5,000     

Berry Plastics Corporation, Term Loan E, (WI/DD)

     TBD         TBD         B+         5,003,570   
 

Distributors – 0.5%

           
  3,480     

HD Supply Inc., Term Loan B

     4.500%         10/12/17         B+         3,516,160   
 

Diversified Consumer Services – 4.4%

           
  3,899     

Ceridian Corporation, New Replacement Term Loan

     4.415%         8/14/15         B1         3,921,868   
  17,421     

Hilton Hotels Corporation, Term Loan B2

     3.750%         10/25/20         BB         17,580,751   
  4,968     

Laureate Education, Inc., Term Loan B, DD1

     5.000%         6/16/18         B1         5,004,558   
  404     

Pinnacle Entertainment Inc., Term Loan B1

     3.750%         8/15/16         BB+         406,888   
  1,493     

Pinnacle Entertainment Inc., Term Loan B2

     3.750%         8/13/20         BB+         1,501,828   
  1,995     

Spotless Holdings, SAS, Term Loan, First Lien

     5.000%         10/02/18         B1         2,028,043   
  1,000     

Spotless Holdings, SAS, Term Loan, Second Lien

     8.750%         4/02/19         B3         1,025,625   
  31,180     

Total Diversified Consumer Services

                                31,469,561   
 

Diversified Financial Services – 2.3%

           
  1,739     

Altisource Solutions S.A.R.L, Term Loan B

     4.500%         12/09/20         B+         1,758,306   
  1,493     

Home Loan Servicing Solutions Ltd., Term Loan B

     4.500%         6/26/20         BB–         1,505,559   
  995     

ION Trading Technologies S.A.R.L, Term Loan, First Lien

     4.500%         5/22/20         B+         1,004,018   
  769     

KCG Holdings, Inc., Term Loan B

     5.750%         12/05/17         BB–         773,496   
  4,729     

Ocwen Financial Corporation, Term Loan B

     5.000%         2/15/18         B+         4,789,591   
  195     

RPI Finance Trust Term Loan B3

     3.250%         11/09/18         Baa2         195,638   
  2,750     

Wendy’s/Arby’s Restaurants LLC, Term Loan B

     5.000%         11/15/20         B         2,768,048   
  3,749     

WideOpenWest Finance LLC, Term Loan B

     4.750%         4/01/19         B1         3,772,263   
  16,419     

Total Diversified Financial Services

                                16,566,919   
 

Diversified Other – 0.8%

           
  5,736     

Rexnord LLC, Term Loan B

     4.000%         8/21/20         B+         5,755,918   
 

Diversified Telecommunication Services – 0.9%

  

  4,489     

Cincinnati Bell Inc., Tranche B, Term Loan

     4.000%         9/10/20         BB–         4,503,980   
  667     

Greeneden U.S. Holdings II LLC, Series 1, Incremental Term Loan

     4.500%         2/08/20         B+         669,792   
  1,333     

Greeneden U.S. Holdings II LLC, Series 2, Term Loan

     4.500%         11/13/20         B+         1,338,751   
  6,489     

Total Diversified Telecommunication Services

                                6,512,523   
 

Electric Utilities – 0.8%

           
  992     

Calpine Corporation, Term Loan B2

     4.000%         4/01/18         BB–         1,000,507   
  2,500     

EFS Cogen Holdings LLC, Term Loan B

     5.000%         12/17/20         BB+         2,518,750   
  1,992     

Equipower Resources Holdings LLC, Term Loan C, DD1

     4.250%         12/21/19         BB         2,003,289   
  5,484     

Total Electric Utilities

                                5,522,546   

 

Nuveen Investments     19   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Floating Rate Income Fund (continued)

 

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

Food & Staples Retailing – 2.6%

           
$ 2,193     

Albertsons LLC Term Loan B2, DD1

     4.750%         3/21/19         BB–       $ 2,209,105   
  301     

Albertson’s LLC, Term Loan B1

     4.250%         3/21/16         BB–         303,451   
  1,747     

BJ’s Wholesale Club Inc., Replacement Loan, First Lien

     4.500%         9/26/19         B–         1,760,438   
  1,500     

BJ’s Wholesale Club Inc., Replacement Loan, Second Lien

     8.500%         3/31/20         CCC         1,534,500   
  2,000     

Del Monte Foods Company, Term Loan, First Lien, (WI/DD)

     TBD         TBD         B+         2,010,834   
  500     

Rite Aid Corporation, Tranche 1, Term Loan, Second Lien

     5.750%         8/21/20         B         514,688   
  1,500     

Rite Aid Corporation, Tranche 2, Term Loan, Second Lien

     4.875%         6/21/21         B         1,525,624   
  6,453     

Supervalu Inc., New Term Loan B

     5.000%         3/21/19         B+         6,527,196   
  1,974     

Wilton Products, Inc., Tranche B, Term Loan

     7.500%         8/30/18         B–         1,886,512   
  18,168     

Total Food & Staples Retailing

                                18,272,348   
 

Food Products – 4.0%

           
  149     

Advanced Pierre Foods, Inc., Term Loan, First Lien

     5.750%         7/10/17         B1         146,922   
  975     

Advanced Pierre Foods, Inc., Term Loan, Second Lien

     9.500%         10/10/17         CCC+         945,750   
  3,000     

Dole Foods Company, Inc., Tranche B, Term Loan

     4.500%         11/01/18         B2         3,016,875   
  13,455     

H.J. Heinz Company, Term Loan B2

     3.500%         6/05/20         BB         13,574,908   
  993     

Pinnacle Foods Finance LLC, Term Loan G

     3.250%         4/29/20         BB–         992,943   
  1,496     

Pinnacle Foods Finance LLC, Term Loan H

     3.250%         4/29/20         BB–         1,496,718   
  8,199     

US Foods, Incremental Term Loan

     4.500%         3/31/19         B2         8,273,563   
  28,267     

Total Food Products

                                28,447,679   
 

Health Care Equipment & Supplies – 1.7%

  

  1,150     

Ardent Medical Services Inc., Term Loan, Second Lien

     11.000%         1/02/19         CCC+         1,164,375   
  1,493     

Biomet, Inc., Term Loan B2

     3.670%         7/25/17         BB–         1,506,255   
  3,169     

Onex Carestream Finance LP, Term Loan, First Lien

     5.000%         6/07/19         B+         3,210,834   
  2,000     

Onex Carestream Finance LP, Term Loan, Second Lien

     9.500%         12/07/19         B–         2,032,500   
  3,724     

Kinetic Concepts Inc., Term Loan D1, DD1

     4.500%         5/04/18         BB–         3,757,098   
  700     

United Surgical Partners International, Inc., Incremental Term Loan

     4.750%         4/03/19         B1         703,998   
  12,236     

Total Health Care Equipment & Supplies

                                12,375,060   
 

Health Care Providers & Services – 6.2%

           
  3,736     

Apria Healthcare Group Inc., Term Loan, First Lien

     6.750%         4/06/20         BB–         3,754,292   
  1,852     

Bioscrip Inc., Delayed Draw, Term Loan

     6.500%         7/31/20         B         1,844,619   
  6,767     

Golden Living, Term Loan

     5.000%         5/04/18         B         6,652,919   
  3,000     

Healogics Inc., Term Loan, Second Lien (WI/DD)

     TBD         TBD         CCC+         3,076,251   
  6,513     

Health Management Associates, Inc., Replacement Term Loan B

     3.500%         11/16/18         BB–         6,520,670   
  3,229     

IASIS Healthcare LLC, Term Loan B2, First Lien

     4.500%         5/03/18         Ba3         3,255,318   
  1,406     

Kindred Healthcare Inc., Term Loan B1

     4.250%         6/01/18         Ba3         1,407,729   
  86     

LifePoint Hospitals, Inc., Incremental Term Loan B

     2.670%         7/24/17         Ba1         86,016   
  2,000     

One Call Care Management, Inc., Term Loan B

     5.000%         11/27/20         B1         2,004,166   
  2,000     

Sheridan Holding Inc., Term Loan, Second Lien, DD1

     8.250%         12/31/21         B+         2,035,000   

 

  20       Nuveen Investments


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

Health Care Providers & Services (continued)

  

$ 319     

Sheridan Holdings Inc., Delayed Draw, Term Loan, (WI/DD)

     TBD         TBD         B1       $ 318,799   
  5,232     

Sheridan Holdings Inc., Term Loan, First Lien, DD1

     4.500%         6/29/18         B1         5,270,664   
  995     

Surgical Care Affiliates LLC, Incremental Term Loan B

     4.250%         6/29/18         B         997,799   
  2,226     

Truven Health Analytics, Term Loan B

     4.500%         6/06/19         Ba3         2,232,103   
  3,741     

U.S. Renal Care Inc., Incremental Term Loan, Tranche B1, First Lien

     4.250%         7/16/19         B         3,765,564   
  1,500     

U.S. Renal Care Inc., Incremental Term Loan, Tranche B1, Second Lien

     8.500%         7/03/20         B3         1,524,375   
  44,602     

Total Health Care Providers & Services

                                44,746,284   
 

Hotels, Restaurants & Leisure – 3.0%

           
  4,489     

Bally Technologies Inc., Term Loan B, DD1

     4.250%         11/25/20         BB         4,526,119   
  809     

BLB Management Services, Inc., Term Loan

     5.250%         11/10/18         BB–         819,823   
  5,100     

Caesars Entertainment Operating Company Inc., Term Loan B6

     5.488%         1/28/18         B–         4,879,649   
  5,500     

CityCenter Holdings LLC, Term Loan B

     5.000%         10/16/20         B+         5,590,827   
  2,000     

Intrawest Resort Holdings Inc., Initial Term Loan

     5.500%         12/09/20         B+         2,007,500   
  961     

Landry’s Restaurants Inc., Term Loan B

     4.000%         4/24/18         BB–         969,371   
  2,482     

MGM Resorts, International, Term Loan B

     3.500%         12/20/19         BB         2,484,263   
  21,341     

Total Hotels, Restaurants & Leisure

                                21,277,552   
 

Household Durables – 0.7%

           
  2,743     

Jarden Corporation, Term Loan B1

     2.919%         9/30/20         BBB–         2,743,410   
  2,080     

Sun Products Corporation, Term Loan

     5.500%         3/23/20         B1         1,975,996   
  4,823     

Total Household Durables

                                4,719,406   
 

Household Products – 1.1%

           
  3,000     

Revlon Consumer Products Corporation, Term Loan

     4.000%         8/19/19         Ba2         3,015,468   
  2,944     

Spectrum Brands, Term Loan A

     3.000%         9/04/17         BB         2,954,777   
  1,995     

Spectrum Brands Inc., Term Loan C

     3.500%         9/04/19         BB         2,004,552   
  7,939     

Total Household Products

                                7,974,797   
 

Independent Power Producers & Energy Traders – 0.5%

  

  1,500     

Calpine Corporation, Delayed Term Loan

     4.000%         10/31/20         BB+         1,511,812   
  991     

Calpine Corporation, Term Loan B1

     4.000%         4/01/18         BB–         999,447   
  1,072     

Dynegy Inc., Term Loan B2

     4.000%         4/23/20         BB–         1,079,352   
  3,563     

Total Independent Power Producers & Energy Traders

                                3,590,611   
 

Industrial Conglomerates – 0.3%

           
  2,479     

Dupont Performance Coatings, Dollar Term Loan B

     4.750%         2/03/20         B+         2,499,763   
 

Insurance – 0.9%

           
  3,990     

Hub International Holdings, Inc., Term Loan B

     4.750%         10/02/20         B1         4,050,680   
  1,684     

Sedgwick Holdings, Inc. Term Loan First Lien

     4.250%         6/12/18         B+         1,693,318   
  500     

Sedgwick Holdings, Inc. Term Loan, Second Lien

     8.000%         12/12/18         CCC+         508,750   
  6,174     

Total Insurance

                                6,252,748   

 

Nuveen Investments     21   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Floating Rate Income Fund (continued)

 

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

Internet Software & Services – 1.4%

           
$ 2,948     

EIG, Investors Corp., Term Loan

     5.000%         11/09/19         B       $ 2,968,258   
  500     

ION Trading Technologies S.A.R.L., Term Loan, Second Lien

     8.250%         5/22/21         CCC+         507,812   
  459     

Sabre Inc., Term Loan C

     4.000%         2/19/18         B1         461,429   
  1,995     

Sabre Inc., Term Loan B2

     4.500%         2/19/19         B1         1,999,676   
  2,281     

Sabre Inc., Term Loan B

     5.250%         2/19/19         B1         2,300,976   
  2,088     

VFH Parrent LLC, New Term Loan

     5.750%         11/08/19         N/R         2,108,544   
  10,271     

Total Internet Software & Services

                                10,346,695   
 

IT Services – 0.4%

           
  993     

SunGard Data Systems, Inc., Term Loan E

     4.000%         3/08/20         BB         1,001,650   
  1,612     

Zayo Group LLC, Term Loan B

     4.000%         7/02/19         B1         1,614,967   
  2,605     

Total IT Services

                                2,616,617   
 

Leisure Equipment & Products – 1.8%

           
  1,489     

AMC Entertainment Inc., Initial Term Loan

     3.500%         4/30/20         Ba2         1,493,003   
  2,627     

Bombardier Recreational Products, Inc., Term Loan

     4.000%         1/30/19         B+         2,639,732   
  3,491     

Boyd Gaming Corporation, Term Loan B

     4.000%         8/14/20         BB–         3,514,526   
  1,094     

Equinox Holdings Inc., New Initial Term Loan B

     4.501%         1/31/20         B1         1,103,185   
  1,000     

Four Seasons Holdings Inc., Term Loan, Second Lien

     6.250%         12/27/20         B–         1,027,500   
  2,992     

Leslies Poolmart Inc., Tranche B, Term Loan

     4.250%         10/16/19         B         3,011,128   
  12,693     

Total Leisure Equipment & Products

                                12,789,074   
 

Machinery – 1.3%

           
  3,990     

Gardner Denver Inc., Term Loan, DD1

     4.250%         7/30/20         B1         4,002,469   
  2,000     

TNT Crane & Rigging Inc., Initial Term Loan, First Lien

     5.500%         11/27/20         B1         1,991,250   
  3,072     

Xerium Technologies Inc., Initial Term Loan

     5.750%         5/17/19         BB–         3,091,692   
  9,062     

Total Machinery

                                9,085,411   
 

Media – 12.1%

           
  391     

Charter Communications Operating Holdings LLC, Term Loan F

     3.000%         12/31/20         Baa3         388,169   
  3,016     

Clear Channel Communications Inc., Term Loan E, DD1

     7.669%         7/30/19         CCC+         2,978,340   
  17,549     

Clear Channel Communications, Inc., Tranche D, DD1

     6.919%         1/30/19         CCC+         16,803,329   
  12,000     

Cumulus Media, Inc., Term Loan B

     4.250%         12/20/20         B+         12,105,000   
  2,239     

Emerald Expositions Holdings Inc., Term Loan, First Lien

     5.500%         6/17/20         BB–         2,254,141   
  2,349     

EMI Music Publishing LLC, Term Loan B

     4.250%         6/29/18         BB–         2,364,049   
  1,267     

Internet Brands Inc., Term Loan B

     6.250%         3/18/19         B+         1,272,929   
  1,500     

McGraw Hill Education Holdings LLC, Term Loan B, (WI/DD)

     TBD         TBD         B1         1,499,062   
  3,350     

McGraw-Hill Education LLC, Term Loan

     9.000%         3/22/19         B2         3,420,014   
  4,250     

Media General Inc., Delayed Draw, Term Loan

     4.250%         7/31/20         BB–         4,297,787   
  247     

Mediacom Broadband LLC, Tranche G, Term Loan

     4.000%         1/20/20         Ba3         247,027   
  3,491     

Springer Science & Business Media Inc., Term Loan

     5.000%         8/14/20         B         3,515,252   

 

  22       Nuveen Investments


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

Media (continued)

           
$ 27,574     

Tribune Company, Term Loan B, (WI/DD)

     TBD         TBD         BB–       $ 27,490,615   
  93     

UPC Broadband Holding BV, Term Loan AF

     4.000%         1/31/21         BB–         93,476   
  1,500     

UPC Broadband Holding BV, Term Loan AH

     3.250%         6/30/21         BB–         1,499,296   
  2,400     

Weather Channel Corporation, Term Loan, Second Lien

     7.000%         6/26/20         B3         2,472,000   
  4,196     

WMG Acquisition Corporation, Tranche B, Refinancing Term Loan

     3.750%         7/01/20         BB–         4,208,184   
  87,412     

Total Media

                                86,908,670   
 

Multiline Retail – 1.0%

           
  4,000     

Hudsons Bay Company, Term Loan B, First Lien

     4.750%         11/04/20         BB         4,068,612   
  3,000     

Hudsons Bay Company, Initial Term Loan, Second Lien, (WI/DD)

     TBD         TBD         B–         3,108,750   
  7,000     

Total Multiline Retail

                                7,177,362   
 

Oil, Gas & Consumable Fuels – 4.2%

           
  1,994     

Brand Energy & Infrastructure Services, Inc., Initial Term Loan

     4.750%         11/26/20         B1         2,012,322   
  1,938     

Crestwood Holdings LLC, Term Loan B

     7.000%         6/19/19         B         1,995,746   
  4,489     

Drill Rigs Holdings, Inc. Tranche B1, Term Loan

     6.000%         3/31/21         B+         4,598,163   
  150     

EP Energy LLC, Term Loan B3, Second Lien

     3.500%         5/24/18         Ba3         150,228   
  1,995     

Fieldwood Energy LLC, Term Loan, First Lien

     3.875%         9/28/18         Ba2         2,012,871   
  3,000     

Fieldwood Energy LLC, Term Loan, Second Lien

     8.375%         9/30/20         B2         3,069,642   
  5,985     

Harvey Gulf International Marine, Inc., Term Loan B

     5.500%         6/18/20         B1         6,048,591   
  1,991     

Pacific Drilling S.A., Term Loan B

     4.500%         6/03/18         B+         2,015,307   
  1,247     

Peabody Energy Corporation, Term Loan B

     4.250%         9/24/20         BB+         1,257,674   
  1,491     

Rice Drilling LLC, Term Loan, Second Lien

     8.500%         10/25/18         N/R         1,527,881   
  473     

Ruby Western Pipeline Holdings LLC, Term Loan B

     3.500%         3/27/20         BB+         473,986   
  1,000     

Shelf Drilling Holdings LTD., Term Loan

     10.000%         10/08/18         B+         1,017,500   
  2,482     

Vantage Drilling Company, Term Loan B

     5.750%         3/28/19         B–         2,524,902   
  1,000     

Western Refining, Inc., Term Loan B

     4.250%         11/12/20         BB–         1,011,042   
  29,235     

Total Oil, Gas & Consumable Fuels

                                29,715,855   
 

Pharmaceuticals – 3.2%

           
  1,111     

Bioscrip Inc., Term Loan B

     6.500%         7/31/20         B         1,106,771   
  199     

Generic Drug Holdings, Inc Term Loan B

     5.000%         8/16/20         B1         201,985   
  1,049     

Par Pharmaceuticals Companies, Inc., Additional Term Loan B1

     4.250%         9/30/19         B+         1,056,820   
  2,581     

Pharmaceutical Product Development Inc., Term Loan B, First Lien

     4.000%         12/01/18         Ba3         2,603,632   
  3,990     

Pharmaceutical Research Associates, Inc., Term Loan B

     5.000%         9/23/20         B1         4,009,519   
  5,500     

Salix Pharmaceuticals LTD., Term Loan, (WI/DD)

     TBD         TBD         Ba1         5,559,581   
  8,455     

Valeant Pharmaceuticals International, Term Loan E, (WI/DD)

     TBD         TBD         Ba1         8,526,343   
  98     

Valeant Pharmaceuticals International, Tranche B, Term Loan D2

     3.750%         2/13/19         BBB–         99,055   
  22,983     

Total Pharmaceuticals

                                23,163,706   
 

Professional Services – 0.0%

           
  195     

CHG Healthcare, Term Loan, Second Lien

     9.000%         11/19/20         CCC+         198,385   

 

Nuveen Investments     23   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Floating Rate Income Fund (continued)

 

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

Real Estate Investment Trust – 1.7%

           
$ 3,750     

Capital Automotive LP, Term Loan, Second Lien

     6.000%         4/30/20         B1       $ 3,881,250   
  3,237     

iStar Financial Inc., Term Loan

     4.500%         10/15/17         BB–         3,260,398   
  3,144     

iStar Financial Inc., Term Loan, Tranche A2, First Lien

     7.000%         3/19/17         BB–         3,253,928   
  1,985     

Starwood Property Trust Inc., Term Loan B

     3.500%         4/17/20         BB+         1,985,828   
  12,116     

Total Real Estate Investment Trust

                                12,381,404   
 

Real Estate Management & Development – 0.8%

  

  4,156     

Capital Automotive LP, Term Loan, Tranche B1

     4.000%         4/10/19         Ba2         4,192,918   
  1,489     

Realogy Corporation, Term Loan B

     4.500%         3/05/20         BB–         1,506,197   
  5,645     

Total Real Estate Management & Development

                                5,699,115   
 

Semiconductors & Equipment – 1.3%

           
  4,720     

Freescale Semiconductor, Inc., Term Loan, Tranche B4

     5.000%         2/28/20         B1         4,778,481   
  4,489     

Freescale Semiconductor, Inc., Term Loan, Tranche B5

     5.000%         1/15/21         B1         4,547,180   
  295     

NXP Semiconductor LLC, Term Loan D

     3.250%         1/11/20         BB+         295,542   
  9,504     

Total Semiconductors & Equipment

                                9,621,203   
 

Software – 4.3%

           
  1,995     

Activision Blizzard Inc., Term Loan B

     3.250%         10/12/20         BBB         2,010,489   
  1,991     

Blackboard Inc., Term Loan B3

     4.750%         10/04/18         B+         2,014,868   
  4,000     

BMC Software Inc., Initial Term Loan

     5.000%         9/10/20         BB–         4,026,492   
  3,307     

Datatel Parent Corp., Term Loan B

     4.500%         7/19/18         B+         3,330,178   
  245     

Epicor Software Corporation, Term Loan B1

     4.500%         5/16/18         Ba3         247,077   
  2,484     

Emdeon Business Services LLC, Term Loan B2

     3.750%         11/02/18         BB–         2,493,568   
  7,089     

Infor Global Solutions Intermediate Holdings, Ltd., Term Loan S, (WI/DD)

     TBD         TBD         Ba3         7,103,377   
  2,750     

IPC Systems, Inc., Extended Term Loan, Tranche B1, First Lien

     7.750%         7/31/17         B1         2,742,267   
  5,228     

Misys PLC, Term Loan B, First Lien

     5.000%         12/12/18         B+         5,273,708   
  1,296     

RedPrairie Corporation, Term Loan, First Lien

     6.000%         12/13/19         B+         1,305,454   
  30,385     

Total Software

                                30,547,478   
 

Specialty Retail – 0.1%

           
  454     

Collective Brands Inc., Term Loan B

     7.250%         10/09/19         B         456,536   
  499     

Michaels Stores, Inc., Term Loan, First Lien (WI/DD)

     TBD         TBD         BB–         501,434   
  953     

Total Specialty Retail

                                957,970   
 

Textiles, Apparel & Luxury Goods – 0.1%

  

  359     

Phillips-Van Heusen Corporation, Term Loan B

     3.250%         2/13/20         BBB–         361,724   
 

Wireless Telecommunication Services – 1.7%

  

  2,991     

Avaya Inc., Term Loan B5

     8.000%         3/31/18         B1         3,034,273   
  2,163     

Clear Channel Communications Inc., Tranche B, Term Loan B, DD1

     3.819%         1/29/16         CCC+         2,101,394   
  4,514     

Fairpoint Communications Inc., Term Loan B, DD1

     7.500%         2/11/19         B         4,665,379   

 

  24       Nuveen Investments


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

Wireless Telecommunication Services (continued)

  

$ 2,239     

IPC Systems, Inc., Term Loan, Tranche C, First Lien

     7.750%         7/31/17         B1       $ 2,232,389   
  11,907     

Total Wireless Telecommunication Services

                                12,033,435   
$ 560,032     

Total Variable Rate Senior Loan Interests (cost $556,850,247)

  

     562,563,452   
 

Total Long-Term Investments (cost $675,874,343)

  

     684,518,473   
Principal
Amount (000)
    Description (1)    Coupon      Maturity               Value  
 

SHORT-TERM INVESTMENTS – 12.9%

           
$ 92,411     

Repurchase Agreement with State Street Bank, dated 12/31/12, repurchase price $92,410,935, collateralized by: $94,345,000 U.S. Treasury Notes,
2.125%, due 8/15/21, value $92,261,013 and $2,000,000 U.S. Treasury Notes, 0.250%, due 9/30/14, value $2,002,890

     0.000%         1/02/14                $ 92,410,935   

 

 

               
 

Total Short-Term Investments (cost $92,410,935)

  

     92,410,935   
 

Total Investments (cost $768,285,278) – 108.5%

  

     776,929,408   
 

Other Assets Less Liabilities – (8.5)%

                                (60,932,169
 

Net Assets – 100%

  

   $ 715,997,239   

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

         Level 1        Level 2        Level 3        Total  
Long-Term Investments:                    

Corporate Bonds

     $         $ 121,955,021         $         $ 121,955,021   

Variable Rate Senior Loan Interests

                 562,563,452                     562,563,452   
Short-Term Investments:                    

Repurchase Agreements

                 92,410,935                     92,410,935   
Total      $  —         $ 776,929,408         $  —         $ 776,929,408   

 

Nuveen Investments     25   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony Floating Rate Income Fund (continued)

 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

As of December 31, 2013, the cost of investments was $768,687,521.

Gross unrealized appreciation and gross unrealized depreciation of investments as of December 31, 2013, were as follows:

 

Gross unrealized:           

Appreciation

     $ 8,830,363   

Depreciation

       (588,476
Net unrealized appreciation (depreciation) of investments      $ 8,241,887   

 

 

   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) Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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) Senior loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments of senior loans may occur. As a result, the actual remaining maturity of senior loans held may be substantially less than the stated maturities shown.

 

(4) Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan.

 

DD1 Portion of investment purchased on a delayed delivery basis.

 

WI/DD Purchased on a when-issued or delayed delivery basis.

 

144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

 

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. As of settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date.

 

  26       Nuveen Investments


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony High Yield Bond Fund

 

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

LONG-TERM INVESTMENTS – 92.9%

           
 

CORPORATE BONDS – 78.3%

           
 

Auto Components – 0.4%

           
$ 100     

Ahern Rentals Inc., 144A

     9.500%         6/15/18         B       $ 108,250   
  100     

Schaeffler Holding Finance BV, 144A

     6.875%         8/15/18         B1         106,000   
  200     

Stackpole International Intermediate Company, 144A

     7.750%         10/15/21         B+         208,000   
  400     

Total Auto Components

                                422,250   
 

Automobiles – 1.1%

           
  1,000     

Jaguar Land Rover PLC, 144A

     4.125%         12/15/18         BB         1,006,250   
 

Beverages – 0.7%

           
  700     

Innvoation Ventures LLC Finance, 144A

     9.500%         8/15/19         B2         675,500   
 

Building Products – 0.3%

           
  250     

Gibraltar Industries

     6.250%         2/01/21         BB–         256,875   
 

Commercial Services & Supplies – 3.6%

           
  1,250     

ABX Group Inc.

     6.375%         12/01/19         Ba3         1,268,750   
  50     

ABX Group Inc.

     8.750%         12/01/20         CCC+         51,000   
  2,000     

Cenveo Corporation

     8.875%         2/01/18         CCC+         2,000,000   
  100     

Monitronics International Inc.

     9.125%         4/01/20         CCC+         106,000   
  3,400     

Total Commercial Services & Supplies

                                3,425,750   
 

Communications Equipment – 3.2%

           
  1,000     

Alcatel Lucent USA Inc., 144A

     6.750%         11/15/20         B3         1,038,750   
  500     

Alcatel Lucent USA Inc., 144A

     4.625%         7/01/17         B3         500,625   
  1,000     

Avaya Inc., 144A

     7.000%         4/01/19         B1         980,000   
  500     

Level 3 Financing Inc., 144A

     6.125%         1/15/21         BB–         505,000   
  3,000     

Total Communications Equipment

                                3,024,375   
 

Computers & Peripherals – 0.1%

           
  100     

Seagate HDD Cayman, 144A

     3.750%         11/15/18         BBB–         101,125   
 

Consumer Finance – 0.6%

           
  300     

SLM Corporation

     4.875%         6/17/19         BBB–         298,936   
  100     

Springleaf Finance Corporation

     6.000%         6/01/20         B3         100,000   
  125     

TMX Finance LLC, 144A

     8.500%         9/15/18         B+         133,125   
  525     

Total Consumer Finance

                                532,061   
 

Containers & Packaging – 0.3%

           
  250     

Ardagh Packaging Finance / MP HD USA, 144A

     7.000%         11/15/20         CCC+         252,500   

 

Nuveen Investments     27   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony High Yield Bond Fund (continued)

 

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

Distributors – 0.1%

           
$ 50     

HD Supply Inc.

     11.500%         7/15/20         CCC+       $ 59,688   
 

Diversified Consumer Services – 0.3%

           
  250     

NES Rental Holdings Inc., 144A

     7.875%         5/01/18         CCC+         263,125   
 

Diversified Financial Services – 1.8%

           
  1,500     

American Capital Limited, 144A

     6.500%         9/15/18         BB–         1,563,750   
  150     

Nationstar Mortgage LLC Capital Corporation

     6.500%         8/01/18         B+         152,625   
  1,650     

Total Diversified Financial Services

                                1,716,375   
 

Diversified Telecommunication Services – 2.4%

  

  2,000     

IntelSat Limited

     8.125%         6/01/23         B–         2,145,000   
  100     

Windstream Corporation

     7.750%         10/01/21         BB+         106,000   
  2,100     

Total Diversified Telecommunication Services

                                2,251,000   
 

Electric Utilities – 0.1%

           
  100     

Calpine Corporation, 144A

     6.000%         1/15/22         BB+         102,500   
 

Health Care Equipment & Supplies – 3.3%

           
  200     

Kinetic Concepts

     10.500%         11/01/18         B–         230,000   
  1,000     

Kinetic Concepts

     12.500%         11/01/19         CCC+         1,125,000   
  1,700     

Tenet Healthcare Corporation

     8.125%         4/01/22         B3         1,831,750   
  2,900     

Total Health Care Equipment & Supplies

                                3,186,750   
 

Health Care Providers & Services – 3.8%

           
  250     

IASIS Healthcare Capital Corporation

     8.375%         5/15/19         CCC+         265,000   
  3,000     

Truven Health Analtyics Inc.

     10.625%         6/01/20         CCC+         3,393,750   
  3,250     

Total Health Care Providers & Services

                                3,658,750   
 

Hotels, Restaurants & Leisure – 0.8%

           
  250     

Caesars Operating Escrow

     9.000%         2/15/20         B–         243,125   
  250     

Landrys Holdings

     10.250%         1/01/18         CCC+         265,313   
  125     

Pinnacle Finance Corporation, 144A

     6.375%         8/01/21         BB–         127,813   
  100     

Station Casinos LLC

     7.500%         3/01/21         CCC+         106,500   
  725     

Total Hotels, Restaurants & Leisure

                                742,751   
 

Household Durables – 0.1%

           
  50     

KB Home

     7.000%         12/15/21         B+         52,125   
 

Insurance – 1.2%

           
  1,100     

Hockey Merger Sub 2 Inc., 144A

     7.875%         10/01/21         CCC+         1,130,250   
 

IT Services – 3.8%

           
  3,075     

First Data Corporation

     12.625%         1/15/21         B–         3,609,281   
 

Leisure Equipment & Products – 0.0%

           
  20     

PC NextCo Holdings Finance, 144A

     8.750%         8/15/19         CCC+         20,525   

 

  28       Nuveen Investments


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

Machinery – 0.4%

           
$ 250     

Cleaver-Brooks Inc., 144A

     8.750%         12/15/19         B       $ 271,250   
  141     

Xerium Technologies

     8.875%         6/15/18         B         148,050   
  391     

Total Machinery

                                419,300   
 

Marine – 3.2%

           
  3,000     

Navios Maritime Acquisition Corporation, 144A

     8.125%         11/15/21         B         3,060,000   
 

Media – 6.0%

           
  200     

Cequel Communications Holding I LLC Capital

     6.375%         9/15/20         B–         205,000   
  4,515     

Clear Channel Communications, Inc., 144A

     14.000%         2/01/21         CCC–         4,097,808   
  100     

Dreamworks Animation SKG, 144A

     6.875%         8/15/20         Ba3         105,750   
  125     

McGraw-Hill Global Education Holdings, 144A

     9.750%         4/01/21         BB         138,125   
  125     

Midcontinent Communications Finance Company, 144A

     6.250%         8/01/21         B–         125,938   
  1,000     

Nexstar Broadcasting Inc.

     6.875%         11/15/20         B         1,070,000   
  6,065     

Total Media

                                5,742,621   
 

Oil, Gas & Consumable Fuels – 13.5%

           
  1,000     

Chaparral Energy Inc.

     8.250%         9/01/21         B–         1,085,000   
  300     

Clayton Williams Energy Inc., 144A

     7.750%         4/01/19         B3         308,250   
  250     

Crestwood Midstream Partners LP, 144A

     6.125%         3/01/22         BB         256,250   
  1,500     

Diamondback Energy Inc., 144A

     7.625%         10/01/21         CCC+         1,582,500   
  1,000     

Energy XXI Gulf Coast Inc.

     7.500%         12/15/21         B+         1,042,500   
  600     

Halcon Resources Corporation, 144A

     9.250%         2/15/22         CCC+         610,500   
  1,500     

Hercules Offshore LLC, 144A

     7.500%         10/01/21         B         1,590,000   
  100     

Linn Energy LLC Finance Corporation, 144A

     6.250%         11/01/19         B+         101,000   
  1,500     

Oasis Petroleum Inc., 144A

     6.875%         3/15/22         B         1,590,000   
  1,550     

Sanchez Energy Corporation, 144A

     7.750%         6/15/21         CCC+         1,584,875   
  3,000     

Sandridge Energy Inc.

     7.500%         2/15/23         B2         3,045,000   
  30     

Tesoro Logistics LP Finance Corporation

     6.125%         10/15/21         BB–         30,900   
  12,330     

Total Oil, Gas, & Consumable Fuels

                                12,826,775   
 

Pharmaceuticals – 0.9%

           
  700     

Salix Pharmaceuticals Limited, 144A

     6.000%         1/15/21         B         717,500   
  100     

VPII Escrow Corporation, 144A

     7.500%         7/15/21         B1         109,750   
  800     

Total Pharmaceuticals

                                827,250   
 

Real Estate Management & Development – 4.2%

  

  4,000     

Realogy Group / Sun Group Florida, 144A

     3.375%         5/01/16         B–         4,030,000   
 

Semiconductors & Equipment – 6.4%

           
  1,600     

Advanced Micro Devices, Inc.

     7.750%         8/01/20         B         1,588,000   
  1,500     

Advanced Micro Devices, Inc.

     7.500%         8/15/22         B         1,455,000   
  3,000     

Freescale Semiconductor Inc., 144A

     6.000%         1/15/22         B1         3,037,500   
  6,100     

Total Semiconductors & Equipment

                                6,080,500   

 

Nuveen Investments     29   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony High Yield Bond Fund (continued)

 

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

Software – 4.9%

           
$ 200     

Audatex North America Inc., 144A

     6.125%         11/01/23         Ba2       $ 206,000   
  3,500     

Blackboard Inc., 144A

     7.750%         11/15/19         CCC+         3,473,750   
  1,000     

BMC Software Finance Inc., 144A

     8.125%         7/15/21         B–         1,030,000   
  4,700     

Total Software

                                4,709,750   
 

Specialty Retail – 3.9%

           
  3,200     

Chino Intermediate Holdings A Inc., 144A

     7.750%         5/01/19         CCC+         3,272,000   
  200     

Claires Stores, Inc., 144A

     9.000%         3/15/19         B2         217,000   
  150     

Jo-Ann Stores Holdings Inc.

     9.750%         10/15/19         CCC+         156,938   
  100     

Michaels FinCo Holdings LLC, 144A

     7.500%         8/01/18         CCC+         104,000   
  3,650     

Total Specialty Retail

                                3,749,938   
 

Textiles, Apparel & Luxury Goods – 0.2%

           
  125     

Quicksilver Inc / QS Wholesale Inc.

     7.875%         8/01/18         B2         135,625   
  100     

Springs Indutries Inc-SIWF Merger Sub

     6.250%         6/01/21         B         100,875   
  225     

Total Textiles, Apparel & Luxury Goods

                                236,500   
 

Thrifts & Mortgage Finance – 1.8%

           
  1,750     

Nationstar Mortgage LLC Capital Corporation

     6.500%         7/01/21         B+         1,666,875   
 

Transportation Infrastructure – 0.1%

           
  100     

Flexi-Van Leasing Inc., 144A

     7.875%         8/15/18         BB–         106,000   
 

Wireless Telecommunication Services – 4.8%

           
  100     

MetroPCS Wireless Inc., 144A

     6.250%         4/01/21         BB         103,750   
  100     

MetroPCS Wireless Inc., 144A

     6.625%         4/01/23         BB         103,250   
  3,900     

Sprint Corporation, 144A

     7.875%         9/15/23         BB–         4,192,500   
  100     

T-Mobile USA Inc.

     6.731%         4/28/22         BB         104,250   
  100     

T-Mobile USA Inc.

     6.836%         4/28/23         BB         103,748   
  4,300     

Total Wireless Telecommunication Services

                                4,607,498   
$ 72,306     

Total Corporate Bonds (cost $72,910,442)

                                74,552,813   
Principal
Amount (000)
    Description (1)    Coupon      Maturity (3)      Ratings (2)      Value  
 

VARIABLE RATE SENIOR LOAN INTERESTS – 14.6% (4)

  

 

Auto Components – 1.7%

           
$ 1,028     

Federal-Mogul Corporation, Tranche B, Term Loan

     2.108%         12/29/14         B1       $ 1,014,944   
  605     

Federal-Mogul Corporation, Tranche C, Term Loan

     2.108%         12/28/15         B1         597,287   
  1,633     

Total Auto Components

                                1,612,231   
 

Commercial Services & Supplies – 4.1%

           
  2,194     

Education Management LLC, Tranche C2, Term Loan, DD1

     4.750%         6/01/16         B–         2,111,720   
  1,778     

Harland Clarke Holdings Corporation, Term Loan B3

     7.000%         5/22/18         B+         1,795,275   
  3,972     

Total Commercial Services & Supplies

                                3,906,995   
 

Communications Equipment – 1.0%

           
  997     

Avaya Inc., Term Loan B3, DD1

     4.736%         10/26/17         B         975,071   

 

  30       Nuveen Investments


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

Computers & Peripherals – 1.1%

           
$ 1,000     

Dell Inc., Term Loan B

     4.454%         4/29/20         BB+       $ 1,003,750   
 

Diversified Consumer Services – 1.7%

           
  1,600     

Hilton Hotels Corporation, Term Loan B2

     3.585%         10/15/20         BB         1,614,667   
 

Machinery – 1.0%

           
  998     

Gardner Denver Inc., Term Loan, DD1

     4.250%         7/30/20         B1         1,000,617   
 

Media – 4.0%

           
  3,795     

Tribune Company, Term Loan B, (WI/DD)

     TBD         TBD         BB+         3,784,011   
$ 13,995     

Total Variable Rate Senior Loan Interests (cost $13,797,314)

  

     13,897,342   
 

Total Long-Term Investments (cost $86,707,756)

  

     88,450,155   
Principal
Amount (000)
    Description (1)    Coupon      Maturity               Value  
 

SHORT-TERM INVESTMENTS – 11.1%

           
$ 10,583     

Repurchase Agreement with Fixed Income Clearing Corporation, dated 12/31/13, repurchase price $10,583,354, collateralized by $11,060,000 U.S. Treasury Notes, 0.6250%, due 11/30/17, value $10,797,214

     0.000%         1/02/14                $ 10,583,354   

 

 

               
 

Total Short-Term Investments (cost $10,583,354)

  

              10,583,354   
 

Total Investments (cost $97,291,110) – 104.0%

  

              99,033,509   
 

Other Assets Less Liabilities – (4.0)%

                                (3,833,430
 

Net Assets – 100%

                              $ 95,200,079   

Fair Value Measurements

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

Level 1 –   Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –   Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –   Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

         Level 1        Level 2        Level 3        Total  
Long-Term Investments:                    

Corporate Bonds

     $         $ 74,552,813         $         $ 74,552,813   

Variable Rate Senior Loan Interests

        —           13,897,342            —           13,897,342   
Short-Term Investments:                    

Repurchase Agreements

                 10,583,354                     10,583,354   
Total      $  —         $ 99,033,509         $  —         $ 99,033,509   

 

Nuveen Investments     31   


Portfolio of Investments December 31, 2013 (Unaudited)

Nuveen Symphony High Yield Bond Fund (continued)

 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

As of December 31, 2013, the cost of investments was $97,325,508.

Gross unrealized appreciation and gross unrealized depreciation of investments as of December 31, 2013, were as follows:

 

Gross unrealized:           

Appreciation

     $ 1,901,859   

Depreciation

       (193,858
Net unrealized appreciation (depreciation) of investments      $ 1,708,001   

 

 

   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) Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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) Senior loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments of senior loans may occur. As a result, the actual remaining maturity of senior loans held may be substantially less than the stated maturities shown.

 

(4) Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan.

 

DD1 Portion of investment purchased on a delayed delivery basis.

 

WI/DD Purchased on a when-issued or delayed delivery basis.

 

144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

 

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. As of settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date.

 

  32       Nuveen Investments


Item 2. Controls and Procedures.

 

  (a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

  (b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See Ex-99. CERT attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Nuveen Investment Trust III

 

 

 

By (Signature and Title)

   /s/ Kevin J. McCarthy
   Kevin J. McCarthy
   Vice President and Secretary

Date: February 28, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

By (Signature and Title)

   /s/ Gifford R. Zimmerman
   Gifford R. Zimmerman
  

Chief Administrative Officer

(principal executive officer)

Date: February 28, 2014

 

 

By (Signature and Title)

   /s/ Stephen D. Foy
   Stephen D. Foy
  

Vice President and Controller

(principal financial officer)

Date: February 28, 2014

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