Edgar Filing: Nuveen Floating Rate Income Opportunity Fund

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 811-21579

Nuveen Floating Rate Income Opportunity Fund

(Exact name of registrant as specified in charter)

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: 7/31

Date of reporting period: 4/30/12

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 (Unaudited)

	Nuveen Floating Rate Income Opportunity Fund (JRO)
	April 30, 2012

							Weighted
Principal							Average
Amount (000)						Description (1)	Coupon	Maturity (2)	Ratings (3)	Value
						Variable Rate Senior Loan Interests – 109.4% (84.0% of Total Investments) (4)
						Aerospace & Defense – 0.2% (0.2% of Total Investments)
$			407			DAE Aviation Holdings, Inc., Term Loan B1	5.470%	7/31/14	B	$			407,018
391						DAE Aviation Holdings, Inc., Term Loan B2	5.470%	7/31/14	B	390,589
798						Total Aerospace & Defense				797,607
						Airlines – 1.4% (1.0% of Total Investments)
2,000						Delta Air Lines, Inc., Revolving Term Loan, Delayed Draw, (5)	0.750%	3/28/13	Ba2	(33,334				)
5,091						United Air Lines, Inc., Term Loan B	2.250%	2/01/14	BB-	5,052,529
7,091						Total Airlines				5,019,195
						Auto Components – 3.6% (2.8% of Total Investments)
889						Autoparts Holdings, Ltd., Term Loan, Second Lien	10.500%	1/29/18	B-	863,333
8,270						Federal-Mogul Corporation, Tranche B, Term Loan	2.178%	12/29/14	Ba3	8,022,342
4,220						Federal-Mogul Corporation, Tranche C, Term Loan	2.178%	12/28/15	Ba3	4,093,835
500						Goodyear Tire & Rubber Company, Term Loan, Second Lien	4.750%	4/30/19	Ba1	493,594
13,879						Total Auto Components				13,473,104
						Biotechnology – 3.1% (2.4% of Total Investments)
2,078						Alkermes, Inc., Term Loan, First Lien	6.750%	9/16/17	BB	2,109,297
1,000						Alkermes, Inc., Term Loan, Second Lien	9.500%	9/16/18	B	1,030,000
3,570						Grifols SA, Term Loan	4.500%	6/01/17	BB	3,583,243
4,963						Onex Carestream Finance LP, Term Loan	5.000%	2/25/17	BB-	4,851,144
11,611						Total Biotechnology				11,573,684
						Building Products – 1.0% (0.8% of Total Investments)
1,909						Goodman Global Inc., Second Lien Term Loan	9.000%	10/28/17	B-	1,945,484
1,816						Goodman Global Inc., Term Loan	5.750%	10/28/16	B+	1,830,948
3,725						Total Building Products				3,776,432
						Capital Markets – 1.0% (0.8% of Total Investments)
292						BNY Convergex Group LLC, Incremental Term Loan	5.000%	12/19/16	B+	291,701
663						BNY Convergex Group LLC, Term Loan	5.000%	12/19/16	B+	662,415
2,903						Citco Group Term Loan	5.500%	6/29/18	N/R	2,888,547
3,858						Total Capital Markets				3,842,663
						Chemicals – 1.4% (1.1% of Total Investments)
247						Hexion Specialty Chemicals, Inc., Tranche C, Term Loan B1	4.000%	5/05/15	Ba3	246,171
106						Hexion Specialty Chemicals, Inc., Tranche C, Term Loan B2	4.250%	5/05/15	Ba3	105,155
1,927						Ineos US Finance LLC, Tranche, C2	8.000%	12/16/14	Baa3	2,003,614
3,118						Styron S.a.r.l. Corporation,Term Loan, DD1	6.000%	8/02/17	B+	2,914,765
5,398						Total Chemicals				5,269,705
						Commercial Banks – 0.3% (0.2% of Total Investments)
993						SourceCorp First Lien Term Loan	6.625%	4/28/17	B1	918,062
						Commercial Services & Supplies – 0.8% (0.6% of Total Investments)
2,721						Ceridian Corporation, US Term Loan	3.239%	11/09/14	B1	2,609,869
45						ServiceMaster Company, Delayed Term Loan	2.740%	7/24/14	B+	44,361
449						ServiceMaster Company, Term Loan	2.803%	7/24/14	B+	445,477
3,215						Total Commercial Services & Supplies				3,099,707
						Communications Equipment – 1.9% (1.5% of Total Investments)
6,031						Avaya, Inc., Term Loan	3.241%	10/27/14	B1	5,929,845
1,250						Genesys International Corporation, Term Loan B	6.750%	1/31/19	BB-	1,269,141
7,281						Total Communications Equipment				7,198,986
						Construction Materials – 0.3% (0.2% of Total Investments)
158						Schaeffler AG, Term Loan C2, First Lien	6.000%	1/27/17	B1	158,988
1,000						Summit Materials Companies LLC, Term Loan B	6.000%	1/23/19	BB-	1,009,375
1,158						Total Construction Materials				1,168,363
						Consumer Finance – 0.5% (0.3% of Total Investments)
1,750						Springleaf Financial Funding Company, Term Loan	5.500%	5/10/17	B2	1,661,188
						Containers & Packaging – 3.4% (2.6% of Total Investments)
10,237						Reynolds Group Holdings, Inc., Add on Term Loan	6.500%	8/09/18	BB-	10,396,646
995						Reynolds Group Holdings, Inc., US Term Loan	6.500%	2/09/18	BB	1,010,372
1,007						Sealed Air Corporation, Term Loan	4.750%	10/03/18	Ba1	1,019,184
12,239						Total Containers & Packaging				12,426,202
						Distributors – 1.8% (1.4% of Total Investments)
6,500						HD Supply Inc., Term Loan B, WI/DD	TBD	TBD	B+	6,544,720
						Diversified Consumer Services – 2.4% (1.9% of Total Investments)
4,136						Brickman Group Holdings, Inc., Tranche B, Term Loan	7.250%	10/14/16	B+	4,184,756
4,883						Laureate Education, Inc., Extended Term Loan	5.250%	6/15/18	B1	4,827,627
9,019						Total Diversified Consumer Services				9,012,383
						Diversified Financial Services – 1.6% (1.2% of Total Investments)
1,514						FoxCo Acquisition Sub LLC, Term Loan	4.750%	7/14/15	BB	1,521,450
2,100						Ineos US Finance LLC, Term Loan B, WI/DD	TBD	TBD	B+	2,113,782
2,143						UPC Broadband Holding BV, Term Loan, Tranche AB	4.750%	12/31/17	Ba3	2,153,571
5,757						Total Diversified Financial Services				5,788,803
						Diversified Telecommunication Services – 3.1% (2.4% of Total Investments)
3,000						Charter Communications Operating Holdings LLC, Holdco Term Loan	2.739%	3/06/14	BB+	2,983,593
2,000						Intelsat, Unsecured Term Loan	2.740%	2/01/14	B	1,981,876
4,533						Level 3 Financing, Inc., Term Loan	2.653%	3/13/14	Ba3	4,510,667
1,984						WideOpenWest Finance LLC, Term Loan, First Lien	2.740%	6/30/14	B1	1,976,935
11,517						Total Diversified Telecommunication Services				11,453,071
						Electric Utilities – 0.3% (0.2% of Total Investments)
2,022						TXU Corporation, 2014 Term Loan	3.741%	10/10/14	B2	1,162,333
						Electrical Equipment – 0.7% (0.5% of Total Investments)
2,500						Sensus Metering Systems, Inc., Term Loan, Second Lien	8.500%	5/09/18	B-	2,496,875
						Electronic Equipment & Instruments – 0.8% (0.6% of Total Investments)
3,483						Smart Modular Technologies, Inc., Term Loan	8.250%	8/26/17	B+	2,994,950
						Energy Equipment & Services – 0.6% (0.5% of Total Investments)
2,206						Gibson Energy ULC, Term Loan	5.750%	6/15/18	BB-	2,222,441
						Food & Staples Retailing – 3.6% (2.8% of Total Investments)
2,000						Roundy’s Supermarkets, Inc., Term Loan B, First Lien	5.750%	2/10/19	BB-	2,020,500
11,531						U.S. Foodservice, Inc., Term Loan	2.740%	7/03/14	B	11,360,409
13,531						Total Food & Staples Retailing				13,380,909
						Food Products – 0.8% (0.6% of Total Investments)
2,955						Pierre Foods, Inc., Term Loan	7.000%	9/30/16	B+	2,971,622
						Health Care Equipment & Supplies – 2.2% (1.7% of Total Investments)
6,983						Chiron Merger Sub, Inc., Term Loan	7.000%	5/04/18	Ba2	7,139,606
225						Fenwal, Inc., Delayed Term Loan	2.739%	2/28/14	B	220,945
714						Fenwal, Inc., Term Loan	2.739%	2/28/14	B	701,071
7,922						Total Health Care Equipment & Supplies				8,061,622
						Health Care Providers & Services – 7.5% (5.7% of Total Investments)
3,612						Gentiva Term Loan B	6.500%	8/17/16	B1	3,445,082
7,790						Golden Living, Term Loan	5.000%	5/04/18	B+	7,373,459
256						HCA, Inc., Tranche B2, Term Loan	3.720%	3/31/17	BB	252,244
1,397						Health Management Associates, Inc., Term Loan B	4.500%	11/16/18	BB-	1,399,125
2,729						Kindred Healthcare, Term Loan	5.250%	6/01/18	Ba3	2,627,023
95						LifeCare Holdings, Inc., Term Loan Add On	8.219%	2/01/16	CCC-	87,825
529						LifeCare, Term Loan	8.219%	2/01/16	CCC-	486,844
1,743						MultiPlan, Inc., Term Loan B	4.750%	8/26/17	Ba3	1,741,776
3,713						National Mentor Holdings, Inc., Tranche B	7.000%	2/09/17	B+	3,686,204
4,218						Select Medical Corporation, Term Loan	5.500%	6/01/18	BB-	4,116,186
1,324						Skilled Healthcare Group, Inc., Term Loan	6.750%	4/09/16	B1	1,306,866
1,098						Sun Healthcare Group, Inc., Term Loan	8.750%	10/18/16	Ba1	1,081,311
6						Vanguard Health Holding Company II LLC, Initial Term Loan	5.000%	1/29/16	Ba2	5,973
28,510						Total Health Care Providers & Services				27,609,918
						Health Care Technology – 1.6% (1.2% of Total Investments)
5,653						Emdeon Business Services LLC, Term Loan	6.750%	11/02/18	BB-	5,707,612
350						Fenwal, Inc., Term Loan, Second Lien	5.739%	8/28/14	B-	343,000
6,003						Total Health Care Technology				6,050,612
						Hotels, Restaurants & Leisure – 4.5% (3.4% of Total Investments)
2,948						24 Hour Fitness Worldwide, Inc., New Term Loan	7.500%	4/22/16	Ba3	2,965,898
3,276						Caesars Entertainment Operating Company, Inc., Term Loan B6	5.489%	1/28/18	B	3,002,857
243						Caesars Octavius LLC, Term Loan	9.250%	4/25/17	B	241,963
1,512						CCM Merger, Inc., Term Loan	6.000%	3/01/17	B+	1,512,316
3,000						Landry’s Restaraunts, Inc., Term Loan B	6.500%	4/19/18	B+	3,004,218
2,368						Orbitz Worldwide, Inc., Term Loan	3.239%	7/25/14	B+	2,312,222
1,745						Shingle Springs Tribal Gaming Authority, Term Loan	10.500%	12/17/13	CCC	1,648,689
1,800						Wendy’s/Arby’s Restaurants, Inc., Term Loan B, WI/DD	TBD	TBD	Ba2	1,811,624
16,892						Total Hotels, Restaurants & Leisure				16,499,787
						Household Durables – 0.6% (0.5% of Total Investments)
2,438						GRD Holding III Corporation, Term Loan	8.750%	10/05/17	B+	2,340,000
						Household Products – 1.1% (0.8% of Total Investments)
3,996						Spectrum Brands, Inc., Term Loan	5.001%	6/17/16	B1	4,015,957
						Industrial Conglomerates – 0.9% (0.7% of Total Investments)
420						Evertec, Inc., Term Loan	5.250%	9/30/16	BB-	419,759
961						Presidio, Inc., Term Loan	7.250%	3/31/17	Ba3	972,506
1,975						U.S. Foodservice, Inc., Term Loan, First Lien	5.750%	3/31/17	B-	1,982,444
3,356						Total Industrial Conglomerates				3,374,709
						Internet Software & Services – 5.7% (4.4% of Total Investments)
6,766						Go Daddy Operating Co., LLC, Term Loan, Tranche B1	5.500%	12/17/18	Ba3	6,792,081
748						Open Solutions, Inc., Term Loan B	2.595%	1/23/14	B+	723,694
2,399						Sabre, Inc., Extended Term Loan, First Lien	5.989%	9/30/17	B1	2,280,751
2,399						Sabre, Inc., Term Loan	2.239%	9/30/14	B1	2,313,733
2,000						San Juan Cable LLC, Term Loan, Second Lien	10.000%	6/09/18	CCC+	1,962,500
2,935						SkillSoft Corporation, Term Loan	6.500%	5/26/17	BB-	2,964,510
3,923						Web.com, Term Loan, First Lien	7.000%	10/27/17	Ba3	3,939,246
21,170						Total Internet Software & Services				20,976,515
						IT Services – 5.5% (4.2% of Total Investments)
1,800						Attachmate Corporation, Second Lien Term Loan	9.500%	10/27/17	CCC+	1,829,250
2,925						Attachmate Corporation, Term Loan	6.500%	4/27/17	BB-	2,925,000
8,093						First Data Corporation, Term Loan B-1	5.240%	3/24/17	B+	7,742,092
3,553						Frac Tech International LLC, Term Loan	6.250%	5/06/16	B+	3,431,785
1,300						SRA International, Term Loan	6.500%	7/20/18	B1	1,302,873
1,743						Virtu Financial LLC, First Lien Term Loan	7.500%	7/08/16	Ba1	1,743,120
1,385						Web.com, Term Loan, Second Lien	11.000%	10/27/18	B3	1,375,961
20,799						Total IT Services				20,350,081
						Leisure Equipment & Products – 2.0% (1.5% of Total Investments)
4,472						Academy, Ltd., Term Loan	6.000%	8/03/18	B	4,522,772
1,802						BLB Management Services, Inc., Term Loan	8.500%	11/05/15	BB	1,813,719
973						Eastman Kodak Co., DIP Term Loan	8.500%	7/20/13	B1	992,824
7,247						Total Leisure Equipment & Products				7,329,315
						Machinery – 0.5% (0.4% of Total Investments)
1,796						Rexnord Corporation, Replacement Term Loan	5.000%	4/01/18	BB	1,814,600
						Media – 9.2% (7.1% of Total Investments)
2,010						Atlantic Broadband Finance LLC, Term Loan B	5.250%	4/04/19	Ba3	2,025,913
1,700						Atlantic Broadband Finance LLC, Term Loan, Second Lien	9.750%	10/04/19	B-	1,702,125
3,905						Cengage Learning Acquisitions, Inc., Tranche B, Extended Term Loan	5.740%	7/09/17	B+	3,447,182
3,000						Cequel Communications LLC, Term Loan	4.000%	2/14/19	Ba2	2,972,250
2,542						Cumulus Media, Inc., Term Loan, First Lien	5.750%	9/17/18	Ba2	2,570,092
3,000						Cumulus Media, Inc., Term Loan	7.500%	3/18/19	B2	3,057,225
1,165						Gray Television, Inc., Term Loan B	3.750%	12/31/14	B+	1,160,877
3,473						Radio One, Inc., Term Loan B, First Lien	7.500%	2/14/17	B	3,438,183
1,543						SuperMedia, Term Loan	11.000%	12/31/15	Caa3	870,007
2,513						Tribune Company, Term Loan B, (6)	0.000%	6/04/14	Ca	1,739,049
10,758						Univision Communications, Inc., Term Loan	4.489%	3/31/17	B+	10,061,895
3,159						Yell Group PLC, Term Loan	3.989%	7/31/14	CCC+	1,006,519
38,768						Total Media				34,051,317
						Multiline Retail – 0.6% (0.4% of Total Investments)
1,134						99 Cents Only Stores, Term Loan B1	5.250%	1/11/19	B+	1,138,382
935						Bass Pro Group LLC, Term Loan B	5.250%	6/13/17	BB-	939,176
2,069						Total Multiline Retail				2,077,558
						Oil, Gas & Consumable Fuels – 5.0% (3.9% of Total Investments)
658						Alon USA Energy, Inc., Edgington Facility	2.489%	8/05/13	B+	640,765
5,264						Alon USA Energy, Inc., Paramount Facility	2.489%	8/05/13	B+	5,125,985
997						CCS Income Trust, Delayed Term Loan	3.239%	11/14/14	B	975,000
2,887						CCS Income Trust, Term Loan	3.239%	11/14/14	B	2,821,979
1,500						Crestwood Holdings LLC, Term Loan B	9.750%	3/26/18	CCC+	1,528,125
1,650						El Paso Corporation, Term Loan, WI/DD	TBD	TBD	BB-	1,670,014
4,100						Energy Transfer Partners LP, Term Loan B	3.750%	3/23/17	Ba1	4,057,536
1,761						Western Refining, Inc., Term Loan	7.500%	3/15/17	B+	1,789,438
18,817						Total Oil, Gas & Consumable Fuels				18,608,842
						Paper & Forest Products – 2.3% (1.7% of Total Investments)
3,642						Newark Group, Inc., DIP Term Loan	12.500%	3/31/14	Caa1	3,732,961
4,993						Wilton Products, Term Loan	3.490%	8/01/14	N/R	4,593,507
8,635						Total Paper & Forest Products				8,326,468
						Personal Products – 0.4% (0.3% of Total Investments)
1,465						Prestige Brands, Inc., Term Loan 1	5.262%	1/27/19	BB-	1,476,636
						Pharmaceuticals – 4.4% (3.4% of Total Investments)
2,168						ConvaTec Healthcare, Term Loan	5.750%	12/30/16	Ba3	2,172,393
3,125						Graceway Pharmaceuticals LLC, Second Lien Term Loan, (6)	0.000%	5/03/13	N/R	93,750
211						Graceway Pharmaceuticals LLC, Term Loan, (6)	0.000%	5/03/12	N/R	191,828
3,990						Pharmaceutical Product Development, Inc., Term Loan	6.250%	12/05/18	BB-	4,036,966
3,970						Quintiles Transnational Corporation, Term Loan B	5.000%	6/08/18	BB-	3,986,130
2,669						Warner Chilcott Corporation, Term Loan B1	4.250%	3/17/18	BBB-	2,679,818
1,334						Warner Chilcott Corporation, Term Loan B2	4.250%	3/17/18	BBB-	1,339,909
1,835						Warner Chilcott Corporation, Term Loan B3	4.250%	3/17/18	BBB-	1,842,375
19,302						Total Pharmaceuticals				16,343,169
						Real Estate Investment Trust – 1.9% (1.5% of Total Investments)
3,877						iStar Financial, Inc., Term Loan, Tranche A1	5.000%	6/28/13	BB-	3,878,617
1,143						Walter Investment Management Corporation, Second Lien Term Loan	7.750%	6/30/16	B+	1,191,056
2,081						Walter Investment Management Corporation, Term Loan, Second Lien	12.500%	12/30/16	B-	2,096,859
7,101						Total Real Estate Investment Trust				7,166,532
						Real Estate Management & Development – 3.5% (2.7% of Total Investments)
8,401						Capital Automotive LP, Tranche B	5.250%	3/11/17	Ba3	8,376,552
1,340						LNR Property Corporation, Term Loan	4.750%	4/29/16	BB+	1,348,440
3,457						Realogy Corporation, Delayed Term Loan	4.770%	10/10/16	B1	3,222,507
13,198						Total Real Estate Management & Development				12,947,499
						Road & Rail – 1.5% (1.2% of Total Investments)
5,550						Swift Transportation Company, Inc., Term Loan, Tranche B2	5.000%	12/15/17	BB	5,608,736
						Semiconductors & Equipment – 1.1% (0.8% of Total Investments)
2,965						NXP Semiconductor LLC, Term Loan	4.500%	3/03/17	B-	2,935,387
1,044						Spansion LLC, Term Loan	4.750%	2/09/15	BB+	1,027,410
4,009						Total Semiconductors & Equipment				3,962,797
						Software – 6.7% (5.2% of Total Investments)
5,035						BlackBoard, Inc., Term Loan, First Lien	7.500%	9/23/18	B+	5,012,342
2,707						Datatel Parent Corp, Term Loan B	6.250%	7/19/18	B+	2,755,241
3,380						IPC Systems, Inc., Extended Term Loan, Tranche B1, First Lien	5.663%	7/31/17	B-	3,320,419
3,000						IPC Systems, Inc., Term Loan, Second Lien	5.518%	6/01/15	CCC	2,578,089
11,125						Lawson Software Inc., Term Loan B	6.250%	3/30/18	Baa3	11,284,921
25,247						Total Software				24,951,012
						Specialty Retail – 3.0% (2.3% of Total Investments)
475						Claire’s Stores, Inc., Term Loan B	3.057%	5/29/14	B	452,970
2,827						Jo-Ann Stores, Inc., Term Loan	4.750%	3/16/18	B+	2,827,421
1,496						Lord & Taylor Holdings LLC, Term Loan	5.750%	12/21/18	BB	1,517,760
2,620						Toys “R” Us - Delaware, Inc., Term Loan	5.250%	5/17/18	B+	2,575,002
3,551						Toys “R” Us - Delaware, Inc., Term Loan	6.000%	9/01/16	B+	3,548,370
10,969						Total Specialty Retail				10,921,523
						Wireless Telecommunication Services – 3.1% (2.4% of Total Investments)
4,569						Asurion LLC, Term Loan, First Lien	5.500%	5/24/18	Ba1	4,583,045
8,675						Clear Channel Communications, Inc., Tranche B, Term Loan	3.889%	1/29/16	CCC+	7,001,647
13,244						Total Wireless Telecommunication Services				11,584,692
$	420,997					Total Variable Rate Senior Loan Interests (cost $403,044,424)				404,702,902

Shares						Description (1)				Value
						Common Stocks – 2.4% (1.9% of Total Investments)
						Building Products – 1.0% (0.8% of Total Investments)
124,402						Masonite Worldwide Holdings, (7), (12)				$			3,576,558
						Hotels, Restaurants & Leisure – 0.1% (0.1% of Total Investments)
42,041						BLB Worldwide Holdings Inc., (7), (12)				525,512
						Media – 1.3% (1.0% of Total Investments)
182,499						Metro-Goldwyn-Mayer, (7), (12)				4,938,879
						Total Common Stocks (cost $16,996,423)				9,040,949

Principal
Amount (000)						Description (1)	Coupon	Maturity	Ratings (3)	Value
						Convertible Bonds – 0.3% (0.2% of Total Investments)
						Communications Equipment – 0.3% (0.2% of Total Investments)
$					1,000	Nortel Networks Corp., (6)	2.125%	4/15/14	D	$			997,500
$					1,000	Total Convertible Bonds (cost $867,500)				997,500

Principal
Amount (000)						Description (1)	Coupon	Maturity	Ratings (3)	Value
						Corporate Bonds – 13.4% (10.2% of Total Investments)
						Commercial Services & Supplies – 0.1% (0.1% of Total Investments)
$					500	Ceridian Corporation	11.250%	11/15/15	CCC	$			476,250
						Communications Equipment – 1.1% (0.8% of Total Investments)
1,750						Avaya Inc.	9.750%	11/01/15	CCC+	1,734,688
550						Nortel Networks Corp., (6)	1.750%	4/15/14	N/R	548,625
1,000						Nortel Networks Limited, (6)	0.000%	7/15/13	N/R	1,065,000
450						Nortel Networks Limited, (6)	10.750%	7/15/16	N/R	516,375
3,750						Total Communications Equipment				3,864,688
						Distributors – 0.3% (0.2% of Total Investments)
1,000						HD Supply Inc., 144A	8.125%	4/15/19	B+	1,073,750
						Diversified Telecommunication Services – 0.9% (0.6% of Total Investments)
750						IntelSat Bermuda Limited, 144A	11.500%	2/15/17	CCC+	774,375
750						IntelSat Bermuda Limited	11.500%	2/04/17	CCC+	781,875
1,500						IntelSat Bermuda Limited	11.250%	2/04/17	CCC+	1,556,250
3,000						Total Diversified Telecommunication Services				3,112,500
						Health Care Equipment & Supplies – 1.4% (1.1% of Total Investments)
2,450						Chiron Merger Sub Inc., 144A	10.500%	11/01/18	B	2,526,563
2,500						Merge Healthcare Inc.	11.750%	5/01/15	B+	2,687,500
4,950						Total Health Care Equipment & Supplies				5,214,063
						Health Care Providers & Services – 2.4% (1.9% of Total Investments)
2,000						Aurora Diagnostics Holdings LLC	10.750%	1/15/18	B3	1,980,000
2,750						HCA Inc., (11)	8.500%	4/15/19	BB+	3,085,156
1,000						LifeCare Holdings Inc.	9.250%	8/15/13	Caa3	655,000
396						Select Medical Corporation	7.625%	2/01/15	B-	399,960
3,000						Select Medical Corporation	6.267%	9/15/15	B-	2,842,500
9,146						Total Health Care Providers & Services				8,962,616
						Household Products – 0.8% (0.6% of Total Investments)
2,750						Sprectum Brands Inc.	9.500%	6/15/18	BB-	3,114,375
						IT Services – 0.9% (0.7% of Total Investments)
2,000						First Data Corporation, 144A	7.375%	6/15/19	BB-	2,045,000
1,228						First Data Corporation	10.550%	9/24/15	B-	1,249,783
3,228						Total IT Services				3,294,783
						Machinery – 0.5% (0.4% of Total Investments)
2,000						NES Rental Holdings Inc., 144A	12.250%	4/15/15	CCC+	1,970,000
						Media – 2.7% (2.1% of Total Investments)
5,500						Clear Channel Communications, Inc.	5.500%	9/15/14	CCC-	4,846,875
3,750						Clear Channel Communications, Inc.	10.750%	8/01/16	CCC-	2,765,625
3,600						Clear Channel Communications, Inc.	6.875%	6/15/18	CCC-	1,980,000
400						WMG Acquisition Group	11.500%	10/01/18	B3	436,000
13,250						Total Media				10,028,500
						Multiline Retail – 0.2% (0.1% of Total Investments)
500						Number Merger Sub Inc., 144A	11.000%	12/15/19	Caa1	541,250
						Pharmaceuticals - 0.8% (0.6% of Total Investments)
2,000						Valeant Pharmaceuticals International, 144A	7.000%	10/01/20	BB-	2,027,500
1,000						Valeant Pharmaceuticals International, 144A	7.250%	7/15/22	BB-	997,500
3,000						Total Pharmaceuticals				3,025,000
						Road & Rail – 0.5% (0.4% of Total Investments)
2,000						Avis Budget Car Rental	2.957%	5/15/14	B+	1,970,000
						Software – 0.8% (0.6% of Total Investments)
850						Lawson Software Inc., 144A	11.500%	7/15/18	B-	952,000
1,875						Lawson Software Inc., 144A	9.375%	4/01/19	B-	1,959,374
2,725						Total Software				2,911,374
$					51,799	Total Corporate Bonds (cost $46,388,968)				49,559,149

Principal
Amount (000)						Description (1)	Coupon	Maturity	Ratings (3)	Value
						Asset-Backed Securities – 3.1% (2.4% of Total Investments)
$		1,500				Flatiron Collateralized Loan Obligation Limited, Series 2011-1A	5.236%	1/15/23	BB	$		1,186,164
1,500						Fraser Sullivan Collateralized Loan Obligations Limited, Series 2011-6A, 144A	5.970%	11/22/22	BB	1,312,785
2,000						LCM Limited Partnership, Collateralized Loan Obligations, 144A	6.428%	4/15/22	BB	1,676,862
1,200						LCM Limited Partnership, Collateralized Loan Obligations, 144A	5.278%	4/15/22	BBB	1,079,519
1,500						Madison Park Funding Limited, Collateralized Loan Obligations, Series 2012-8A, 144A	6.112%	4/22/22	BB	1,224,302
1,000						Madison Park Funding Limited, Collateralized Loan Obligations, Series 2012-8A, 144A	5.117%	4/22/22	BBB	868,542
2,500						Race Point Collateralized Loan Obligations, Series 2011-5A, 144A	6.970%	12/15/22	BB	2,294,252
2,000						Race Point Collateralized Loan Obligations, Series 2012-6A, 144A	5.970%	5/24/23	BB	1,725,000
$				13,200		Total Asset-Backed Securities (cost $11,029,306)				11,367,426

Principal
Amount (000)						Description (1)	Coupon	Maturity		Value
						Short-Term Investments – 1.7% (1.3% of Total Investments)
$	6,131					Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/12, repurchase price $6,131,249, collateralized by $4,205,000 U.S. Treasury Bonds, 6.125%, due 11/15/27, value $6,260,194	0.010%	5/01/12		$	6,131,247
						Total Short-Term Investments (cost $6,131,247)				6,131,247
						Total Investments (cost $484,457,868) – 130.3%				481,799,173
						Borrowings – (32.4)% (8), (9)				(120,000,000				)
						Other Assets Less Liabilities – 2.1% (10)				8,050,447
						Net Assets Applicable to Common Shares – 100%				$	369,849,620

Investments in Derivatives at April 30, 2012

Interest Rate Swaps outstanding:

Fund

Fixed Rate

Unrealized

Notional

Pay/Receive

Floating Rate

Payment

Termination

Appreciation

Counterparty

Amount

Floating Rate

Index

Fixed Rate*

Frequency

Date

(Depreciation)

Goldman Sachs

$29,317,500

Receive

1-Month USD-LIBOR

1.300%

Monthly

4/20/14

(548,122

)

Morgan Stanley

29,317,500

Receive

1-Month USD-LIBOR

2.201

Monthly

4/20/16

(1,717,997

)

(2,266,119

)

* Annualized

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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – 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 risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of April 30, 2012:

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Variable Rate Senior Loan Interests

–

404,702,902

–

404,702,902

Common Stocks*

–

9,040,949

–

9,040,949

Convertible Bonds

–

997,500

–

997,500

Corporate Bonds

–

49,559,149

–

49,559,149

Asset-Backed Securities

–

11,367,426

–

11,367,426

Short-Term Investments:

Repurchase Agreements

–

6,131,247

–

6,131,247

Derivatives:

Interest Rate Swaps**

–

(2,266,119

)

–

(2,266,119

)

Total

–

479,533,054

–

479,533,054

* Refer to the Fund’s Portfolio of Investments for industry breakdown of Common Stocks classified as Level 2.

** Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments.

During the period ended April 30, 2012, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.

Derivative Instruments and Hedging Activities

The Fund records derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.

The following table presents the fair value of all derivative instruments held by the Fund as of April 30, 2012, the location of these instruments on the Statement of Assets and Liabilities, and the primary underlying risk exposure.

Location on the Statement of Assets and Liabilities

Underlying

Derivative

Asset Derivatives

Liability Derivatives

Risk Exposure

Instrument

Location

Value

Location

Value

Interest Rate

Swaps

Unrealized appreciation on interest rate swaps, net

—

Unrealized depreciation on interest rate swaps, net

2,266,119

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 the treatment of paydown gains and losses, timing differences in recognizing certain gains and losses on investment transactions and recognition of premium amortization. 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.

At April 30, 2012, the cost of investments (excluding investments in derivatives) was $484,829,898.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) at April 30, 2012, were as follows:

Gross unrealized:

Appreciation

16,569,695

Depreciation

(19,600,420

)

Net unrealized appreciation (depreciation) of investments

(3,030,725

)

For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease.

(1)

All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.

(2)

Senior Loans generally 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.

(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 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.

(5)

Investment, or portion of investment, represents an unfunded Senior Loan commitment outstanding at April 30, 2012. Negative value represents unrealized depreciation on unfunded Senior Loan commitment outstanding at April 30, 2012.

(6)

At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, 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.

(7)

Non-income producing; issuer has not declared a dividend within the past twelve months.

(8)

Borrowings as a percentage of Total Investments is 24.9%.

(9)

The Fund segregates 100% of its eligible investments in the Portfolio of Investments as collateral for Borrowings.

(10)

Other Assets Less Liabilities includes the net Unrealized Appreciation (Depreciation) of derivative instruments as noted within Investments in Derivatives at April 30, 2012.

(11)

Investment, or portion of investment, has been pledged as collateral for investments in derivatives.

(12)

For fair value measurement disclosure purposes, Common Stock categorized as Level 2.

N/R

Not rated.

DD1

Investment, or 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 buyer.

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 weighted average coupon rate is not available prior to settlement. At settlement, if still unknown, the Borrower or counterparty will provide the Fund with the final weighted average coupon rate and maturity date.

USD-LIBOR

United States Dollar-London Inter-Bank Offered Rate.

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 Rule 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: 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 Floating Rate Income Opportunity Fund

By (Signature and Title)	/s/ Kevin J. McCarthy
	Kevin J. McCarthy
	Vice President and Secretary

Date: June 29, 2012

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: June 29, 2012

By (Signature and Title)	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller (principal financial officer)

Date: June 29, 2012