Nuveen Real Asset Income and Growth 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 811-22658

Nuveen Real Asset Income and Growth Fund

(Exact name of registrant as specified in charter)

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman—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:       December 31      

Date of reporting period:  September 30, 2017  

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

 

 


JRI

 

Nuveen Real Asset Income and Growth Fund

Portfolio of Investments

   September 30, 2017 (Unaudited)

 

Shares          Description (1)                                   Value  
   

LONG-TERM INVESTMENTS – 138.3% (98.8% of Total Investments

 

   

COMMON STOCKS – 54.9% (39.2% of Total Investments)

 

          Air Freight & Logistics – 0.5%                       
  37,353      

BPost SA, (2)

              $ 1,110,912  
  37,415        

Oesterreichische Post AG

                                        1,727,265  
   

Total Air Freight & Logistics

                                        2,838,177  
          Commercial Services & Supplies – 0.4%                       
  144,637        

Covanta Holding Corporation

                                        2,147,859  
          Diversified Telecommunication Services – 1.3%                       
  1,436,517      

HKBN Limited, (2)

                1,500,579  
  1,578,557      

HKT Trust and HKT Limited

                1,919,746  
  148,310      

Inmarsat PLC, (2)

                1,279,993  
  3,572,572        

Netlink NBN Trust

                                        2,172,857  
   

Total Diversified Telecommunication Services

 

                       6,873,175  
          Electric Utilities – 6.4%                                  
  3,661,286      

AusNet Services, (2)

                4,858,379  
  3,175      

CEZ, (2)

                63,775  
  423,122      

Contact Energy Limited, (2)

                1,682,575  
  331,498      

Endesa S.A, (2), (3)

                7,480,265  
  233,305      

Enersis Chile SA

                1,399,830  
  4,827      

Entergy Corporation

                368,590  
  1,007,888      

Infratil Limited, (2)

                2,272,325  
  46,262      

Power Assets Holdings Limited, (2)

                401,558  
  13,116      

Red Electrica Corporacion SA, (2), (3)

                275,890  
  282,109      

Scottish and Southern Energy PLC, (2)

                5,278,867  
  5,000,021      

Spark Infrastructure Group, (2)

                9,896,266  
  127,417        

Transmissora Alianca de Energia Eletrica SA

 

                                895,135  
   

Total Electric Utilities

                                        34,873,455  
          Equity Real Estate Investment Trusts – 27.6%                       
  206,704      

AEW UK REIT PLC

                280,792  
  380,054      

American Hotel Income Properties REIT LP

 

           2,893,619  
  226,017      

Armada Hoffler Properties Inc.

                3,121,295  
  408,919      

Ascendas Real Estate Investment Trust, (2)

 

           803,662  
  136,056      

Automotive Properties Real Estate Investment Trust

 

        1,200,542  
  170,146      

Brixmor Property Group Inc.

                3,198,745  
  446,044      

Centuria Metropolitan REIT

                846,702  
  142,156      

Charter Hall Retail REIT, (2)

                440,910  
  50,319      

Choice Properties Real Estate Investment Trust

 

           535,956  
  220,091      

City Office REIT, Inc.

                3,030,653  
  14,591      

Cofinimmo, SANV, (2)

                1,874,830  
  87,756      

Community Healthcare Trust Inc.

                2,365,902  
  3,568,836      

Concentradora Fibra Hotelera Mexicana SA de CV

 

           2,741,791  
  16,546      

CT Real Estate Investment Trust

                184,191  
  134,043      

Developers Diversified Realty Corporation

 

           1,227,834  
  390,238      

Dream Global Real Estate Investment Trust

 

           3,443,414  
  73,918      

Easterly Government Properties, Inc.

                1,527,885  
  1,332,375      

Empiric Student Property PLC

                1,807,699  
  5,209      

Entertainment Properties Trust

                363,276  
  36,400      

Eurocommercial Properties NV

                1,556,506  
  13,366      

Fonciere Des Regions, (2)

                1,388,662  
  2,913,558      

Fortune REIT, (2)

                3,422,736  
  61,000      

Franklin Street Properties Corporation

                647,820  
  2,114,438      

Frasers Centrepoint Trust, (2)

                3,292,470  
  6,169,868      

Frasers Logistics & Industrial Trust, (2)

                4,869,536  

 

NUVEEN     1  


JRI    Nuveen Real Asset Income and Growth Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Shares          Description (1)                                   Value  
          Equity Real Estate Investment Trusts (continued)                       
  71,395      

Gaming and Leisure Properties Inc.

              $ 2,633,762  
  140,075      

Government Properties Income Trust

                2,629,208  
  103,684      

Gramercy Property Trust

                3,136,441  
  157,248      

Growthpoint Properties Australia Limited, (2)

 

              391,453  
  134,077      

H&R Real Estate Investment Trust

                2,314,581  
  17,700      

Health Care Property Investors Inc.

                492,591  
  34,678      

Hersha Hospitality Trust

                647,438  
  21,876      

Hospitality Properties Trust

                623,247  
  24,971      

ICADE, (2)

                2,227,812  
  1,584,028      

IGB Real Estate Investment Trust

                656,495  
  196,136      

Immobiliare Grande Distribuzione SIIQ SpA

 

              204,575  
  166,921      

Independence Realty Trust

                1,697,587  
  1,442,435      

Keppel DC REIT, (2)

                1,410,085  
  94,463      

Killam Apartment Real Estate I

                998,571  
  21,350      

Kimco Realty Corporation

                417,393  
  68,469      

LaSalle Hotel Properties

                1,986,970  
  60,908      

Lexington Corporate Properties Trust

                622,480  
  12,633      

Macquarie Mexico Real Estate Management SA de CV

 

           16,712  
  2,216,828      

Mapletree Commercial Trust

                2,484,116  
  2,407,728      

Mapletree Greater China Commercial Trust, (2)

 

           2,052,441  
  634,468      

Mapletree Industrial Trust

                877,015  
  8,022,029      

Mapletree Logistics Trust, (2)

                7,342,127  
  296,677      

MedEquities Realty Trust, Inc.

                3,485,955  
  404,788      

Medical Properties Trust Inc.

                5,314,866  
  47,862      

Mercialys

                956,001  
  172,482      

MGM Growth Properties LLC

                5,210,681  
  1,422      

National Health Investors Inc.

                109,906  
  922,160      

Nexus Real Estate Investment Trust

                1,485,507  
  50,057      

NorthWest Healthcare Properties REIT

                454,535  
  40,743      

NSI NV

                1,604,978  
  14,117      

Omega Healthcare Investors Inc.

                450,473  
  132,786      

Park Hotels & Resorts, Inc.

                3,659,582  
  1,407,495      

Parkway Life Real Estate Investment Trust

 

           2,801,605  
  148,766      

Physicians Realty Trust

                2,637,621  
  2,218      

Piedmont Office Realty Trust

                44,715  
  309,051      

Plaza Retail REIT

                1,084,867  
  139,712      

Prologis Property Mexico SA de CV

                276,355  
  994,019      

Propertylink Group, (2)

                725,387  
  531,303      

Pure Industrial Real Estate Trust

                2,708,144  
  16,116      

Ramco-Gershenson Properties Trust

                209,669  
  170,389      

Sabra Health Care Real Estate Investment Trust Inc.

 

           3,738,335  
  332,718      

STAG Industrial Inc.

                9,139,763  
  238,300      

Summit Industrial Income REIT

                1,420,919  
  2,864,953      

TF Administradora Industrial S de RL de CV

 

           4,932,250  
  641,185      

VEREIT, Inc.

                5,315,424  
  440,616      

Vicinity Centres, (2)

                920,292  
  487,897      

Viva Energy REIT, (2)

                808,166  
  14,645      

Washington Prime Group, Inc.

                121,993  
  6,922      

Welltower Inc.

                486,478  
  54,847      

Wereldhave NV, (2)

                2,587,327  
  313,603        

WPT Industrial Real Estate Investment Trust

 

                       4,189,736  
   

Total Equity Real Estate Investment Trusts

 

                       149,812,058  
          Gas Utilities – 0.5%                                  
  9,698      

AmeriGas Partners, LP

                435,828  
  255,551      

APA Group, (2)

                1,676,382  
  13,862      

Companhia de Gas de Sao Paulo – Comgas

 

           241,512  
  24,012        

Gas Natural SDG S.A, (2), (3)

                                        531,927  
   

Total Gas Utilities

                                        2,885,649  
          Health Care Providers & Services – 0.2%                       
  75,787        

Sienna Senior Living Inc., Subscription

                                        1,097,553  

 

  2     NUVEEN


Shares          Description (1)                                   Value  
          Household Durables – 0.3%                                  
  39,266        

Kaufman and Broad SA, (2)

                                      $ 1,894,516  
          Independent Power & Renewable Electricity Producers – 2.7%                
  216,070      

Brookfield Renewable Energy Partners LP

 

           7,240,142  
  509,916      

Meridian Energy Limited

                1,047,849  
  9,667      

NRG Yield, Inc., Class C Shares

                186,573  
  22,070      

Pattern Energy Group Inc.

                531,887  
  198,188      

Renewables Infrastructure Group Limited

 

           288,942  
  321,858      

Saeta Yield S.A

                3,674,704  
  178,400        

TransAlta Renewables Inc.

                                        1,968,798  
   

Total Independent Power & Renewable Electricity Producers

 

              14,938,895  
          Media – 0.1%                                  
  19,007        

Eutelsat Communications, (2)

                                        562,658  
          Mortgage Real Estate Investment Trusts – 3.1%                
  127,741      

Apollo Commercial Real Estate Finance, Inc.

 

              2,313,390  
  75,680      

Ares Commercial Real Estate Corporation

 

        1,007,301  
  81,592      

Granite Point Mortgage Trust Inc.

                1,528,218  
  204,104      

KKR Real Estate Finance Trust, Inc.

                4,294,348  
  185,934      

Starwood Property Trust Inc.

                4,038,487  
  183,508        

TPG Re Finance Trust Inc.

                                        3,627,953  
   

Total Mortgage Real Estate Investment Trusts

 

                                16,809,697  
          Multi-Utilities – 3.2%                                  
  1,230,318      

Centrica PLC, (2)

                3,083,619  
  214,209      

Engie, (2)

                3,637,571  
  65,285      

National Grid PLC

                4,094,022  
  549,185      

Redes Energeticas Nacionais SA, (2)

                1,789,763  
  1,936,960        

Vector Limited, (2)

                                        4,577,124  
   

Total Multi-Utilities

                                        17,182,099  
          Oil, Gas & Consumable Fuels – 3.1%                       
  4,127      

Cheniere Energy Partners LP Holdings LLC

 

           118,940  
  3,826      

DCP Midstream LP

                132,533  
  115,041      

Enagas, (2)

                3,241,604  
  10,380      

Enbridge Energy Partners LP

                165,872  
  39,931      

Enbridge Income Fund Holdings Inc.

                1,028,557  
  197,207      

Enterprise Products Partnership LP

                5,141,187  
  343      

Hess Midstream Partners LP

                7,536  
  10,320      

ONEOK, Inc.

                571,831  
  24,390      

Plains GP Holdings LP, Class A Shares

                533,409  
  406,263      

Snam Rete Gas S.p.A, (2)

                1,957,801  
  213,080      

Veresen Inc.

                3,196,840  
  12,858        

Williams Partners LP

                                        500,176  
   

Total Oil, Gas & Consumable Fuels

                                        16,596,286  
          Real Estate Management & Development – 0.7%                       
  184,778      

Atrium European Real Estate Ltd

                865,040  
  83,164      

Brookfield Property Partners

                1,941,879  
  344,016      

Citycon Oyj, (2)

                905,393  
  5,883        

Landmark Infrastructure Partners LP

                                        99,717  
   

Total Real Estate Management & Development

 

                       3,812,029  
          Road & Rail – 0.5%                                  
  576,127      

Aurizon Holdings Limited, (2)

                2,220,156  
  216,932      

ComfortDelGro Corporation, (2)

                333,349  
  118,368        

Stagocoach Group PLC, (2)

                                        270,796  
   

Total Road & Rail

                                        2,824,301  

 

NUVEEN     3  


JRI    Nuveen Real Asset Income and Growth Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Shares          Description (1)                                   Value  
          Transportation Infrastructure – 3.9%                       
  270,065      

Abertis Infraestructuras S.A, (2)

              $ 5,459,894  
  23,953      

China Merchants Holdings International Company Limited, (2)

 

        74,198  
  247,125      

Enav S.p.A, (2)

                1,132,716  
  8,230,778      

Hopewell Highway Infrastructure Limited, (2)

 

           5,095,315  
  6,969,100      

Hutchison Port Holdings Trust, (2)

                3,003,752  
  101,361      

Jiangsu Expressway Company Limited, (2)

 

           155,661  
  38,944      

Macquarie Infrastructure Corporation

                2,810,978  
  91,115      

Sydney Airport, (2)

                508,834  
  286,037      

Transurban Group, (2)

                2,671,098  
  130,819        

Zhejiang Expressway Company Limited, (2)

 

                                162,961  
   

Total Transportation Infrastructure

                                        21,075,407  
          Water Utilities – 0.4%                                  
  924,797      

Aguas Andinas SA. Class A

                585,177  
  911,665        

Inversiones Aguas Metropolitanas SA

                                        1,622,352  
   

Total Water Utilities

                                        2,207,529  
   

Total Common Stocks (cost $274,698,820)

 

              298,431,343  
Shares          Description (1)           Coupon              Ratings (5)      Value  
   

CONVERTIBLE PREFERRED SECURITIES – 8.6% (6.1% of Total Investments)

 

     
          Diversified Financial Services – 0.0%                       
  2,003        

RLJ Lodging Trust

             1.950%                 B–      $ 55,723  
          Electric Utilities – 1.4%                                  
  44,747      

NextEra Energy Inc.

       6.371%           BBB        2,967,174  
  85,701        

NextEra Energy Inc.

             6.123%                 BBB        4,737,551  
   

Total Electric Utilities

                                        7,704,725  
          Equity Real Estate Investment Trusts – 3.2%                       
  41,467      

Alexandria Real Estate Equities Inc.

       7.000%           Baa3        1,482,445  
  98,340      

Ashford Hospitality Prime, Inc.

       5.500%           N/R        1,988,435  
  4,768      

Crown Castle International Corporation

       6.875%           N/R        5,092,224  
  32,290      

EPR Properties Inc.

       9.000%           BB        1,158,242  
  4,612      

EPR Properties Inc.

       5.750%           BB        127,799  
  37,316      

Equity Commonwealth

       6.500%           Ba1        993,725  
  11,563      

Lexington Corporate Properties Trust, Series B

 

     6.500%           N/R        589,713  
  103,602        

Ramco-Gershenson Properties Trust

             7.250%                 N/R        5,606,940  
   

Total Equity Real Estate Investment Trusts

 

              17,039,523  
          Multi-Utilities – 2.7%                                  
  10,465      

Black Hills Corp

       7.750%           N/R        789,375  
  161,019      

Dominion Resources Inc.

       6.750%           BBB–        8,171,714  
  107,593        

DTE Energy Company

             5.000%                 N/R        5,858,439  
   

Total Multi-Utilities

                                        14,819,528  
          Oil, Gas & Consumable Fuels – 1.3%                                  
  46,711      

Anadarko Petroleum Corporation

       7.500%           N/R        1,856,762  
  120,363        

Kinder Morgan Inc, Delaware

             9.750%                 N/R        5,121,446  
   

Total Oil, Gas & Consumable Fuels

                                        6,978,208  
   

Total Convertible Preferred Securities (cost $45,029,239)

 

              46,597,707  
Shares          Description (1)           Coupon              Ratings (5)      Value  
   

$25 PAR (OR SIMILAR) RETAIL PREFERRED – 31.4% (22.4% of Total Investments)

 

     
          Electric Utilities – 7.0%                                  
  4,538      

Alabama Power Company

       5.000%           A3      $ 117,035  
  20,255      

APT Pipelines Limited

       6.210%           N/R        1,609,456  

 

  4     NUVEEN


Shares          Description (1)           Coupon              Ratings (5)      Value  
          Electric Utilities (continued)                                  
  129,699      

Brookfield Infrastructure Partners LP

       5.350%           BBB–      $ 2,688,051  
  167,392      

Entergy Arkansas Inc., (6)

       4.875%           A        4,186,474  
  55,166      

Entergy Louisiana LLC

       4.875%           A        1,371,978  
  23,419      

Entergy New Orleans, Inc.

       5.500%           A        613,578  
  24,828      

Entergy Texas Inc.

       5.625%           A        646,025  
  148,092      

Georgia Power Company

       5.000%           A–        3,723,033  
  135,174      

Integrys Energy Group Inc., (2)

       6.000%           Baa1        3,838,941  
  182,517      

NextEra Energy Inc.

       5.250%           BBB        4,661,484  
  50,384      

NextEra Energy Inc.

       5.000%           BBB        1,269,677  
  91,840      

Pacific Gas & Electric Corporation

       6.000%           A–        2,929,696  
  137,608      

PPL Capital Funding, Inc.

       5.900%           BBB        3,537,902  
  67,171      

SCE Trust VI

       5.000%           Baa1        1,704,800  
  203,360        

Southern Company

             5.250%                 BBB        5,187,714  
   

Total Electric Utilities

                                        38,085,844  
          Equity Real Estate Investment Trusts – 18.3%                
  100,854      

American Homes 4 Rent

       6.350%           N/R        2,680,699  
  83,643      

American Homes 4 Rent

       5.875%           BB        2,147,952  
  49,640      

American Homes 4 Rent

       5.500%           N/R        1,418,215  
  59,618      

American Homes 4 Rent

       5.000%           N/R        1,698,517  
  59,232      

American Homes 4 Rent

       5.000%           N/R        1,685,743  
  43,596      

American Homes 4 Rent

       6.500%           N/R        1,203,250  
  82,231      

American Homes 4 Rent

       5.875%           BB        2,113,337  
  136,969      

CBL & Associates Properties Inc.

       7.375%           BB        3,347,522  
  8,675      

CBL & Associates Properties Inc.

       6.625%           BB        213,145  
  64,749      

Cedar Shopping Centers Inc., Series A

       7.250%           N/R        1,636,855  
  80,698      

Cedar Shopping Centers Inc., Series A

       6.500%           N/R        1,990,820  
  194,231      

City Office REIT, Inc.

       6.625%           N/R        5,046,121  
  44,889      

Colony Northstar, Inc.

       7.500%           N/R        1,158,136  
  49,970      

Colony Northstar, Inc., (2)

       7.125%           N/R        1,253,747  
  123,243      

Colony Northstar, Inc.

       7.125%           N/R        3,164,880  
  112,781      

DDR Corporation

       6.375%           BB        2,937,945  
  83,342      

Digital Realty Trust Inc.

       5.250%           Baa3        2,090,217  
  55,930      

Farmland Partners, Inc.

       6.000%           N/R        1,514,025  
  69,859      

GGP, Inc.

       6.375%           N/R        1,793,979  
  31,120      

Gladstone Commercial Corporation

       7.000%           N/R        809,120  
  84,098      

Gramercy Property Trust

       7.125%           BB+        2,231,120  
  85,143      

Hersha Hospitality Trust

       6.875%           N/R        2,137,089  
  118,567      

Hersha Hospitality Trust

       6.500%           N/R        3,008,045  
  196,044      

Hersha Hospitality Trust

       6.500%           N/R        5,014,806  
  103,707      

Investors Real Estate Trust

       7.950%           N/R        2,600,972  
  138,234      

Investors Real Estate Trust, (WI/DD)

       6.625%           N/R        3,400,556  
  3,379      

LaSalle Hotel Properties

       6.375%           N/R        86,501  
  100,859      

LaSalle Hotel Properties

       6.300%           N/R        2,581,990  
  6,521      

Mid-America Apartment Communities Inc.

 

     8.500%           BBB–        427,126  
  157,968      

Monmouth Real Estate Investment Corp

 

     6.125%           N/R        3,977,634  
  19,829      

National Retail Properties Inc.

       5.200%           Baa2        497,311  
  133,736      

Pebblebrook Hotel Trust

       6.500%           N/R        3,446,377  
  99,126      

Pebblebrook Hotel Trust

       6.375%           N/R        2,591,154  
  62,575      

Penn Real Estate Investment Trust

       6.875%           N/R        1,563,749  
  50,067      

PS Business Parks, Inc.

       5.250%           BBB        1,264,692  
  331      

Public Storage, Inc.

       5.150%           A3        8,384  
  3,504      

Retail Properties of America

       7.000%           BB        89,352  
  493      

Rexford Industrial Realty Inc.

       5.875%           BB        12,596  
  16,053      

Senior Housing Properties Trust

       6.250%           BBB–        435,357  
  51,592      

STAG Industrial Inc.

       6.875%           BB+        1,389,888  
  39,915      

Summit Hotel Properties Inc.

       7.875%           N/R        1,018,232  
  102,767      

Summit Hotel Properties Inc.

       7.125%           N/R        2,629,808  
  50,437      

Summit Hotel Properties Inc.

       6.450%           N/R        1,282,109  
  36,294      

Sunstone Hotel Investors Inc.

       6.950%           N/R        983,567  
  127,193      

Sunstone Hotel Investors Inc.

       6.450%           N/R        3,254,869  
  29,864      

Taubman Centers Incorporated, Series K

 

     6.250%           N/R        748,690  
  92,874      

UMH Properties Inc.

       8.000%           N/R        2,568,895  
  135,065      

UMH Properties Inc.

       6.750%           N/R        3,611,638  

 

NUVEEN     5  


JRI    Nuveen Real Asset Income and Growth Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Shares          Description (1)           Coupon              Ratings (5)      Value  
          Equity Real Estate Investment Trusts (continued)                
  128,930      

Urstadt Biddle Properties

       6.750%           N/R      $ 3,366,362  
  67,064      

Urstadt Biddle Properties

       6.250%           N/R        1,732,934  
  47,857      

Ventas Realty LP

       5.450%           BBB+        1,218,439  
  14,883        

Washington Prime Group, Inc.

             6.875%                 Ba1        373,266  
   

Total Equity Real Estate Investment Trusts

 

                                99,457,733  
          Independent Power & Renewable Electricity Producers – 0.2%         
  63,257        

Brookfield Renewable Partners

             5.750%                 BBB–        1,316,597  
          Multi-Utilities – 3.3%                                  
  307,522      

Dominion Resources Inc.

       5.250%           BBB–        7,930,992  
  150,637      

DTE Energy Company

       6.000%           Baa2        4,122,935  
  179,149      

DTE Energy Company

       5.375%           Baa2        4,631,002  
  44,219        

DTE Energy Company

             5.250%                 Baa2        1,116,530  
   

Total Multi-Utilities

                                        17,801,459  
          Oil, Gas & Consumable Fuels – 2.0%                                  
  36,800      

Hoegh LNG Partners LP, (WI/DD)

       8.750%           N/R        909,083  
  67,909      

NGL Energy Partner LP

       9.000%           N/R        1,652,905  
  204,819      

Nustar Energy LP

       8.500%           Ba3        5,536,258  
  49,120      

Nustar Energy LP

       7.625%           Ba3        1,264,840  
  63,970        

Pembina Pipeline Corporation

             5.750%                 BB+        1,348,869  
   

Total Oil, Gas & Consumable Fuels

                                        10,711,955  
          Real Estate Management & Development – 0.6%                       
  120,393        

Landmark Infrastructure Partners LP

             8.000%                 N/R        3,070,022  
   

Total $25 Par (or similar) Retail Preferred (cost $163,509,694)

 

     170,443,610  
Principal
Amount (000) (7)
         Description (1)           Coupon      Maturity      Ratings (5)      Value  
   

CORPORATE BONDS – 23.9% (17.1% of Total Investments)

 

  
          Commercial Services & Supplies – 2.0%         
$ 3,140      

Advanced Disposal Services, Inc., 144A

       5.625%        11/15/24        B–      $ 3,281,300  
  3,265      

Covanta Holding Corporation

       5.875%        3/01/24        B1        3,240,512  
  1,280      

Covanta Holding Corporation

       5.875%        7/01/25        B1        1,259,200  
  2,695      

GFL Environmental Corporation, 144A

       5.625%        5/01/22        B–        2,802,800  
  315        

Wrangler Buyer Corp., 144A

             6.000%        10/01/25        Caa1        320,512  
   

Total Commercial Services & Supplies

                                        10,904,324  
          Construction & Engineering – 0.3%                                  
  1,820        

AECOM Technology Corporation

             5.125%        3/15/27        BB        1,881,425  
          Diversified Financial Services – 0.9%                                  
  1,550      

Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp., 144A

 

     5.250%        10/01/25        BB        1,535,476  
  1,865      

Minejesa Capital BV, 144A

       5.625%        8/10/37        Baa3        1,952,765  
  1,485        

Stoneway Capital Corporation, 144A

             10.000%        3/01/27        B        1,595,009  
   

Total Diversified Financial Services

                                        5,083,250  
          Diversified Telecommunication Services – 0.7%                
  1,465      

CyrusOne LP Finance, 144A

       5.375%        3/15/27        BB+        1,571,212  
  2,340        

SBA Communications Corporation

             4.875%        9/01/24        B+        2,407,275  
   

Total Diversified Telecommunication Services

 

                       3,978,487  
          Electric Utilities – 6.1%                                  
  7,055      

ACWA Power Management And Investment One Ltd, 144A

 

     5.950%        12/15/39        BBB–        7,270,488  
  1,360      

Comision Federal de Electricidad of the United States of Mexico, 144A

 

     5.750%        2/14/42        BBB+        1,438,200  

 

  6     NUVEEN


Principal
Amount (000) (7)
         Description (1)           Coupon      Maturity      Ratings (5)      Value  
          Electric Utilities (continued)                                  
$ 1,600      

Comision Federal de Electricidad of the United States of Mexico, 144A, (6)

 

     6.125%        6/16/45        BBB+      $ 1,764,000  
  5,669      

Crocket Cogeneration LP, 144A

       5.869%        3/30/25        BBB–        5,581,309  
  2,975      

DCP Midstream Operating LP, 144A

       5.850%        5/21/43        BB–        2,774,187  
  1,400      

Electricite de France S.A, Reg S

       5.875%        7/22/49        BBB        1,937,907  
  1,105      

Energuate Trust, 144A

       5.875%        5/03/27        Ba2        1,143,675  
  2,505      

Exelon Corporation, (6)

       6.250%        10/01/39        BBB        2,757,557  
  806      

FPL Energy National Wind LLC, 144A

       5.608%        3/10/24        Baa3        808,014  
  1,388      

Mirant Mid-Atlantic Series C Pass Through Trust

 

     10.060%        12/30/28        B–        1,318,951  
  325      

NextEra Energy Partners LP, 144A

       4.500%        9/15/27        Ba1        331,094  
  1,540     GBP  

Intergen NV, Reg S

       7.500%        6/30/21        B1        1,980,502  
  3,646      

Panoche Energy Center LLC, 144A

       6.885%        7/31/29        Baa3        3,738,259  
  350        

Red Oak Power LLC

             9.200%        11/30/29        BB–        393,750  
   

Total Electric Utilities

                                        33,237,893  
          Equity Real Estate Investment Trusts – 2.2%                       
  2,375      

Care Capital Properties, Inc.

       5.125%        8/15/26        BBB–        2,435,331  
  1,275      

CBL & Associates LP

       5.950%        12/15/26        BBB–        1,290,825  
  1,385      

Crown Castle International Corporation

       4.750%        5/15/47        BBB–        1,414,180  
  1,165      

CTR Partnership LP/CareTrust Capital Corporation

 

     5.250%        6/01/25        BB–        1,198,902  
  2,790      

Geo Group Inc.

       6.000%        4/15/26        B+        2,932,987  
  1,495      

MPT Operating Partnership Finance

       5.000%        10/15/27        BBB–        1,532,375  
  1,160        

Trust F/1401, 144A

             6.950%        1/30/44        Baa2        1,280,350  
   

Total Equity Real Estate Investment Trusts

 

                       12,084,950  
          Gas Utilities – 1.2%                                  
  215      

AmeriGas Partners LP/AmeriGas Finance Corporation

 

     5.875%        8/20/26        BB        223,600  
  607      

Ferrellgas LP

       6.750%        1/15/22        B        588,790  
  17,005     MXN  

Gas Natural Mexico SA

       7.670%        7/03/25        N/R        892,272  
  17,500     MXN  

Infraestructura Energetica Nova SAB de CV

 

     6.300%        2/02/23        Baa1        904,311  
  1,660      

National Gas Company of Trinidad and Tobago, 144A

 

     6.050%        1/15/36        BBB        1,713,950  
  1,230      

Suburban Propane Partners LP

       5.750%        3/01/25        BB–        1,217,700  
  1,060        

Suburban Propane Partners LP

             5.875%        3/01/27        BB–        1,049,400  
   

Total Gas Utilities

                                        6,590,023  
          Health Care Equipment & Supplies – 0.2%                              
  1,065        

Tenet Healthcare Corporation

             8.125%        4/01/22        B–        1,083,638  
          Health Care Providers & Services – 0.3%                       
  935      

HCA Inc.

       5.500%        6/15/47        BBB–        968,894  
  915        

Kindred Healthcare Inc.

             6.375%        4/15/22        B–        828,075  
   

Total Health Care Providers & Services

                                        1,796,969  
          Hotels, Restaurants & Leisure – 0.5%                                  
  1,395      

Grupo Posadas SAB de CV, 144A

       7.875%        6/30/22        B+        1,485,675  
  940        

MGM Growth Properties Operating Partnership LP / MGP Escrow Co-Issuer, Inc., 144A

 

     4.500%        1/15/28        Ba3        948,272  
   

Total Hotels, Restaurants & Leisure

                                        2,433,947  
          Independent Power & Renewable Electricity Producers – 1.2%                
  2,935      

Azure Power Energy Ltd, 144A

       5.500%        11/03/22        Ba3        3,003,239  
  1,260      

Capex SA, 144A

       6.875%        5/15/24        B+        1,295,620  
  1,825      

Dynegy Inc., 144A

       8.000%        1/15/25        B+        1,888,875  
  735        

GenOn Energy Inc., (8)

             9.500%        10/15/18        N/R        538,388  
   

Total Independent Power & Renewable Electricity Producers

 

                       6,726,122  

 

NUVEEN     7  


JRI    Nuveen Real Asset Income and Growth Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Principal
Amount (000) (7)
         Description (1)           Coupon      Maturity      Ratings (5)      Value  
          IT Services – 0.7%                                  
$ 3,405        

Zayo Group LLC / Zayo Capital Inc., 144A

 

     5.750%        1/15/27        B      $ 3,609,300  
          Multi-Utilities – 0.5%                                  
  2,675        

Dominion Resources Inc.

             5.750%        10/01/54        BBB–        2,889,000  
          Oil, Gas & Consumable Fuels – 2.7%                                  
  280      

Calumet Specialty Products

       6.500%        4/15/21        CCC+        273,525  
  2,345      

Calumet Specialty Products

       7.625%        1/15/22        CCC+        2,303,963  
  620      

Energy Transfer Equity LP

       5.500%        6/01/27        BB+        652,550  
  2,365      

Genesis Energy LP

       5.625%        6/15/24        BB–        2,294,050  
  1,570     CAD  

Gibson Energy, 144A

       5.250%        7/15/24        BB        1,258,756  
  745      

Global Partners LP/GLP Finance

       6.250%        7/15/22        B+        754,313  
  470      

Global Partners LP/GLP Finance

       7.000%        6/15/23        B+        472,350  
  1,335      

Martin Mid-Stream Partners LP Finance

       7.250%        2/15/21        B–        1,365,037  
  1,035      

NGL Energy Partners LP/Fin Co

       7.500%        11/01/23        B+        1,029,825  
  3,520      

PBF Holding Company LLC, 144A

       7.250%        6/15/25        BB        3,599,200  
  11,145     MXN  

Petroleos Mexicanos, 144A

             7.190%        9/12/24        A        558,915  
   

Total Oil, Gas & Consumable Fuels

                                        14,562,484  
          Real Estate Management & Development – 1.3%                
  1,640      

Brooklyn Navy Yard Cogeneration Partners LP, 144A

 

     7.420%        10/01/20        B2        1,484,649  
  2,680      

Hunt Companies Inc., 144A

       9.625%        3/01/21        N/R        2,820,700  
  2,400        

Kennedy-Wilson Holdings Incorporated

             5.875%        4/01/24        BB–        2,472,000  
   

Total Real Estate Management & Development

 

              6,777,349  
          Software – 0.3%                                  
  1,605        

SixSigma Networks Mexico SA de CV, 144A

 

     8.250%        11/07/21        B+        1,664,385  
          Transportation Infrastructure – 1.9%                                  
  1,485      

Aeropuertos Argentina 2000 SA, 144A

       6.875%        2/01/27        B+        1,583,010  
  695      

Aeropuertos Dominicanos SA, 144A

       6.750%        3/30/29        BB–        750,482  
  1,030      

Delhi International Airport Ltd, 144A

       6.125%        10/31/26        BB        1,108,589  
  4,200     MXN  

Grupo Aeroportuario Del Centro Norte, SAB de CV

 

     6.850%        6/07/21        N/R        224,807  
  1,780      

Mexico City Airport Trust, 144A

       5.500%        7/31/47        BBB+        1,802,072  
  1,715      

Rumo Luxembourg Sarl, 144A

       7.375%        2/09/24        BB–        1,856,487  
  2,474        

Terminales Portuarios, 144A

             8.125%        4/01/37        BB        2,653,051  
   

Total Transportation Infrastructure

                                        9,978,498  
          Wireless Telecommunication Services – 0.9%                       
  3,282      

Inmarsat Finance PLC, 144A

       6.500%        10/01/24        BB+        3,536,355  
  1,055        

ViaSat Inc., 144A

             5.625%        9/15/25        BB–        1,061,646  
   

Total Wireless Telecommunication Services

 

                                4,598,001  
   

Total Corporate Bonds (cost $127,429,804)

 

                                129,880,045  
Principal
Amount (000)
         Description (1)           Coupon      Maturity      Ratings (5)      Value  
   

CONVERTIBLE BONDS – 1.0% (0.7% of Total Investments)

 

     
          Oil, Gas & Consumable Fuels – 0.7%                                  
$ 5,210        

Cheniere Energy Inc.

             4.250%        3/15/45        N/R      $ 3,607,925  
          Real Estate Management & Development – 0.3%                
  1,480        

Tricon Capital Group Inc., 144A

             5.750%        3/31/22        N/R        1,561,400  
$ 6,690        

Total Convertible Bonds (cost $5,128,707)

 

              5,169,325  

 

  8     NUVEEN


Principal
Amount (000)
         Description (1)           Coupon      Maturity      Ratings (5)      Value  
   

$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 13.6% (9.8% of Total Investments)

 

          Diversified Financial Services – 0.4%                                  
$ 930      

National Rural Utilities Cooperative Finance Corporation

 

     5.250%        4/20/46        A3      $ 990,079  
  1,325        

RKP Overseas Finance 2016 A, Reg S

             7.950%        N/A (9)        B1        1,381,840  
  2,255        

Total Diversified Financial Services

                                        2,371,919  
          Electric Utilities – 3.7%                                  
  2,265      

AES Gener SA, 144A

       8.375%        12/18/73        BB        2,406,563  
  9,455      

Emera, Inc.

       6.750%        6/15/76        BBB–        10,755,062  
  3,540      

Enel SpA, 144A

       8.750%        9/24/73        BBB–        4,287,825  
  2,595        

Exelon Corporation

             6.350%        3/15/33        Baa2        2,857,744  
  17,855        

Total Electric Utilities

                                        20,307,194  
          Energy Equipment & Services – 3.4%                                  
  5,395      

Transcanada Trust

       5.875%        8/15/76        BBB        5,853,575  
  5,520      

Transcanada Trust

       5.625%        5/20/75        BBB        5,853,960  
  6,555        

Transcanada Trust

             5.300%        3/15/77        BBB        6,710,681  
  17,470        

Total Energy Equipment & Services

                                        18,418,216  
          Multi-Utilities – 0.5%                                  
  2,498        

RWE AG, Reg S

             6.625%        7/30/75        BB+        2,790,341  
          Oil, Gas & Consumable Fuels – 4.8%                                  
  2,105      

Enbridge Energy Partners LP

       8.050%        10/01/37        BB+        2,091,254  
  8,412      

Enbridge Inc.

       6.000%        1/15/77        BBB–        8,917,056  
  9,315      

Enbridge Inc.

       5.500%        7/15/77        BBB–        9,431,438  
  775      

Enterprise Products Operating LP

       7.034%        1/15/68        Baa2        782,750  
  4,660        

Enterprise Products Operating LLP

             5.250%        8/16/77        Baa2        4,700,775  
  25,267        

Total Oil, Gas & Consumable Fuels

                                        25,923,273  
          Real Estate Management & Development – 0.8%         
  4,250        

AT Securities BV, Reg S

             5.250%        N/A (9)        BB+        4,251,063  
$ 69,595        

Total $1,000 Par (or similar) Institutional Preferred (cost $70,688,262)

 

                       74,062,006  
Principal
Amount (000)
         Description (1)           Interest
Rate (10)
     Maturity (10)              Value  
   

WHOLE LOANS – 1.9% (1.3% of Total Investements) (11), (12), (13)

 

  
          Commerical Loans – 1.5%                                  
$ 13,980      

NCH Commercial Pool 2, NCH Corporation, (4), (14)

 

     11.925%        8/01/14         $ 3,390,151  
  4,523      

RealtiCorp Fund III, RIF 301, LLC / RIF 304, LLC, (4), (14)

 

     4.400%        9/01/17           3,278,997  
  1,441        

RL Stowe Portfolio, Belmont Mills LLC; Terrapin East, LLC; Tennessee Mills, LLC; Terrapin West, LLC

 

     3.925%        1/01/20                 1,183,752  
  19,944        

Total Commercial Loans

                                        7,852,900  
          Multifamily Loans – 0.4%                                  
  4,392        

NCH Multifamily Pool 2, NCH Corporation, (4), (14)

 

     11.925%        8/01/14                 2,260,271  
$ 24,336        

Total Whole-Loans (cost $24,846,053)

                                        10,113,171  
Shares          Description (1), (15)                                   Value  
   

INVESTMENT COMPANIES – 2.0% (1.5% of Total Investments)

 

        
  1,939,908      

John Laing Infrastructure Fund

              $ 3,365,276  
  13,845,590      

Keppel Infrastructure Trust

                5,613,974  
  712,467      

NextEnergy Solar Fund Limited

                1,074,044  
  709,823        

Starwood European Real Estate Finance Limited

 

                                1,051,246  
   

Total Investment Companies (cost $10,369,994)

 

                                11,104,540  

 

NUVEEN     9  


JRI    Nuveen Real Asset Income and Growth Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Principal
Amount (000)
         Description (1)                   Optional Call
Provisions (16)
     Ratings (5)      Value  
   

MUNICIPAL BONDS – 0.2% (0.1% of Total Investments)

 

           
          Georgia – 0.2%                                  
$ 750        

Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project M Bonds, Taxable Build America Bonds Series 2010A, 6.655%, 4/01/57

                      No Opt. Call        A+      $ 937,627  
$ 750        

Total Municipal Bonds (cost $873,812)

 

                                937,627  
Principal
Amount (000) (7)
         Description (1)           Coupon      Maturity      Ratings (5)      Value  
   

SOVEREIGN DEBT – 0.8% (0.6% of Total Investments)

 

           
          Cost Rica – 0.4%                                  
$ 925      

Instituto Costarricense de Electricidad, 144A

 

     6.950%        11/10/21        Ba2      $ 1,003,625  
  1,515        

Instituto Costarricense de Electricidad, 144A

 

     6.375%        5/15/43        Ba2        1,414,919  
   

Total Costa Rica

                                        2,418,544  
          India – 0.4%                                  
  140,000     INR  

National Highways Authority of India, Reg S

 

     7.300%        5/18/22        N/R        2,159,232  
   

Total Sovereign Debt (cost $4,526,125)

                                        4,577,776  
Shares          Description (1)                                   Value  
   

COMMON STOCK RIGHTS – 0.0% (0.0% of Total Investments)

 

        
          Equity Real Estate Investment Trusts – 0.0%                              
  821,352        

Mapletree Logistics Trust, Stock Rights, (4)

 

                              $ 51,772  
   

Total Common Stock Rights (cost $ – )

                                        51,772  
   

Total Long-Term Investments (cost $727,100,510)

 

                                751,368,922  
Principal
Amount (000)
         Description (1)           Coupon      Maturity              Value  
   

SHORT-TERM INVESTMENTS – 1.7% (1.2% of Total Investments)

 

        
   

REPURCHASE AGREEMENTS – 1.7% (1.2% of Total Investments)

 

        
$ 8,116      

Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/29/17, repurchase price $8,115,708, collateralized by $8,360,000 U.S. Treasury Notes, 2.000%, due 2/15/25, value $8,282,419

 

     0.120%        10/02/17         $ 8,115,627  
  1,164        

Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/29/17, repurchase price $1,164,140, collateralized by $1,190,000 U.S. Treasury Notes, 2.250%, due 2/15/27, value $1,187,940

 

     0.120%        10/02/17                 1,164,128  
$ 9,280        

Total Short-Term Investments (cost $9,279,755)

 

                                9,279,755  
   

Total Investments (cost $751,368,922) – 140.0%

 

                                760,648,677  
   

Borrowings – (41.4)% (17), (18)

                                        (225,225,000
   

Other Assets Less Liabilities – 1.4% (19)

 

                                8,066,076  
   

Net Assets Applicable to Common Shares – 100%

 

                              $ 543,489,753  

 

  10     NUVEEN


Investments in Derivatives as of September 30, 2017

Futures Contracts

 

Description   Contract
Position
    Number of
Contracts
    Expiration
Date
    Notional
Amount
    Value     Unrealized
Appreciation
(Depreciation)
    Variation
Margin
Receivable/
(Payable)
 

U.S. Treasury 5-Year Note

    Short       (69     12/17     $ (8,188,057   $ (8,107,500   $ 80,557     $ 11,320  

U.S. Treasury 10-Year Note

    Short       (98     12/17       (12,467,678     (12,280,625     187,053       22,969  

U.S. Treasury Long Bond

    Short       (40     12/17       (6,269,381     (6,112,500     156,881       (1,250

U.S. Treasury Ultra Bond

    Short       (25     12/17       (4,241,681     (4,128,125     113,556       (10,156

Total

                          $ (31,166,797   $ (30,628,750   $ 538,047     $ 22,883  

Interest Rate Swaps – OTC Uncleared

 

Counterparty   Notional
Amount
    Fund
Pay/Receive
Floating Rate
    Floating Rate Index     Fixed Rate
(Annualized)
    Fixed Rate
Payment
Frequency
    Effective
Date (20)
    Optional
Termination
Date
    Maturity
Date
    Value     Premiums
Paid
(Received)
    Unrealized
Appreciation
(Depreciation)
 

JPMorgan Chase Bank, N.A.

  $ 29,250,000       Receive       1-Month USD-LIBOR-ICE       1.462     Monthly       12/01/17       12/01/18       12/01/20     $ (12,674   $ 410,770     $ (423,444

Morgan Stanley Capital Securities LLC

    112,400,000       Receive       1-Month USD-LIBOR-ICE       1.994       Monthly       6/01/18       6/01/18       7/01/27       187,282             187,282  

Total

  $ 141,650,000                                                             $ 174,608     $ 410,770     $ (236,162

Fair Value Measurements

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. 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).

 

NUVEEN     11  


JRI    Nuveen Real Asset Income and Growth Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

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 the end of the reporting period:

 

      Level 1      Level 2      Level 3      Total  

Long-Term Investments:

           

Common Stocks

   $ 182,824,975      $ 115,606,368      $      $ 298,431,343  

Convertible Preferred Securities

     46,597,707                      46,597,707  

$25 Par (or similar) Retail Preferred

     165,350,922        5,092,688               170,443,610  

Corporate Bonds

            129,880,045               129,880,045  

Convertible Bonds

            5,169,325               5,169,325  

$1,000 Par (or similar) Institutional Preferred

            74,062,006               74,062,006  

Whole Loans

                   10,113,171        10,113,171  

Investment Companies

     11,104,540                      11,104,540  

Municipal Bonds

            937,627               937,627  

Sovereign Debt

            4,577,776               4,577,776  

Common Stock Rights

                   51,772        51,772  

Short-Term Investments:

           

Repurchase Agreements

            9,279,755               9,279,755  

Investments in Derivatives:

           

Future Contracts*

     538,047                      538,047  

Interest Rate Swaps*

            (236,162             (236,162

Total

   $ 406,416,191      $ 344,369,428      $ 10,164,943      $ 760,950,562  
* Represents net unrealized appreciation (depreciation).

The following is a conciliation of the Fund's Level 3 investments held at the beginning and end of the measurement period:

 

     Level 3  
      Common
Stock
Rights
     Whole
Loans
     Total  

Balance at the beginning of period

   $      $      $  

Investments acquired in the Mergers

            35,361,293        35,361,293  

Gains (losses):

        

Net realized gains (losses)

            (7,689,408      (7,689,408

Change in net unrealized appreciation (depreciation)

     51,772        (14,732,882      (14,681,110

Purchases at cost

                    

Sales at proceeds

            (2,825,832      (2,825,832

Net discounts (premiums)

                    

Transfers into

                    

Transfers (out of)

                    

Balance at the end of period

   $ 51,772      $ 10,113,171      $ 10,164,943  

The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements of assets as of the end of the reporting period, were as follows:

 

      Market Value      Techniques    Unobservable Input    Range  
Commercial & Multifamily Whole Loans    $ 1,183,752      Discounted Cash Flow    Yield Spread      2.185% - 2.280
      Discounted Cash Flow    Liquidity Spread      0.50
      Discounted Cash Flow    Debt Service Coverage Ratio      0.00 - 1.20  
     5,650,421      Appraisals    N/A      N/A  
       3,278,998      Expected Value    N/A      N/A  
Total    $ 10,113,171                     

As of September 30, 2017, the Common Stock Rights Level 3 securities were priced at their intrinsic value less a 10% discount.

 

  12     NUVEEN


The table below presents the transfers in and out of the three valuation levels for the Fund's as of the end of the reporting period when compared to the valuation levels at the end of the previous fiscal year. Changes in valuation inputs or methodologies may result in transfers into or out of an assigned level within the fair value hierarchy. Transfers in or out of levels are generally due to the availability of publicly available information and to the significance or extent the Adviser determines that the valuation inputs or methodologies may impact the valuation of those securities.

 

       Level 1      Level 2      Level 3  
        Transfers In      (Transfers Out)      Transfers In      (Transfers Out)      Transfers In      (Transfers Out)  

Common Stocks

     $ 8,718,649      $ (3,292,471    $ 3,292,471      $ (8,718,649    $      $  

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 taxable market discount, 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.

The tables below present the cost and unrealized appreciation (depreciation) of the Fund's investment portfolio, as determined on a federal income tax basis, as of September 30, 2017.

For income tax purposes of this disclosure, derivative tax cost is generally the sum of any upfront fees or premiums exchanged and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting. If a particular derivative category does not disclose any tax unrealized appreciation or depreciation, the change in the value of those derivatives have generally been fully realized for tax purposes.

 

Tax cost of investments

       $738,499,868  

Gross unrealized:

    

Appreciation

     $ 44,263,110  

Depreciation

       (22,114,301

Net unrealized appreciation (depreciation) of investments

     $ 22,148,809  
            

Tax cost of futures

     $ 538,047  

Net unrealized appreciation (depreciation) of Futures

     $  
            

Tax cost of swap contracts

     $ (410,770

Net unrealized appreciation (depreciation) of swap

     $ (236,162

 

NUVEEN     13  


JRI    Nuveen Real Asset Income and Growth Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

 

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

 

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

 

(2) For fair value measurement disclosure purposes, investment classified as Level 2. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.

 

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

 

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

 

(5) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

 

(6) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.

 

(7) Principal Amount (000) denominated in U.S. Dollars, unless otherwise noted.

 

(8) As of, 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 ceased accruing additional income on the Fund’s records.

 

(9) Perpetual security. Maturity date is not applicable.

 

(10) Represents the interest rate, coupon and maturity in effect as of the end of the reporting period.

 

(11) Interest rates on whole loans are the net coupon rates in effect (after reducing the coupon rate by any mortgage servicing fees paid to mortgage servicers) as of the end of the reporting period.

 

(12) Securities purchased as part of a private placement, which have not been registered with U.S. Securities and Exchange Commission under the Securities Act of 1933 and which are considered to be illiquid.

 

(13) Interest only – Represents securities that entitle holders to receive only interest payments on the mortgage. Principal balance on the loan is due at maturity. The interest rate disclosed represents the net coupon rate in effect as of the end of the reporting period.

 

(14) Loan is currently default with regards to scheduled interest and/or principal payments.

 

(15) A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.

 

(16) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.

 

(17) The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives) in the Portfolio of Investments as collateral for borrowings.

 

(18) Borrowings as a percentage of Total Investments is 29.6%.

 

(19) Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC-cleared and exchange-traded derivatives, when applicable.

 

(20) Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract.

 

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

 

Reg S Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of securities by both foreign and domestic issuers that are made outside the United States.

 

REIT Real Estate Investment Trust

 

WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

 

CAD Canadian Dollar

 

GBP Pound Sterling

 

INR Indian Rupee

 

MXN Mexican Peso

 

USD-LIBOR-ICE United States Dollar – London Inter-Bank Offered Rate – Intercontinental Exchange

 

  14     NUVEEN


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 Real Asset Income and Growth Fund   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                                        
  

Gifford R. Zimmerman

  
   Vice President and Secretary   

Date: November 29, 2017

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/ Cedric H. Antosiewicz                                                         
  

Cedric H. Antosiewicz

  
   Chief Administrative Officer (principal executive officer)   
Date: November 29, 2017      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: November 29, 2017