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 811-22425
Nuveen Build America Bond Opportunity Fund
(Exact name of registrant as specified in charter)
Nuveen Investments
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)
Registrants telephone number, including area code: 312-917-7700
Date of fiscal year end: March 31
Date of reporting period: June 30, 2018
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
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 106.1% (100.0% of Total Investments) | ||||||
MUNICIPAL BONDS – 106.1% (100.0% of Total Investments) | ||||||
Arizona – 0.6% (0.6% of Total Investments) | ||||||
$ 1,000 | Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2018A, 6.000%, 7/01/33, 144A | 1/19 at 102.50 | BB | $ 994,930 | ||
California – 21.0% (19.8% of Total Investments) | ||||||
1,500 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Build America Taxable Bond Series 2009G-2, 8.361%, 10/01/34 | No Opt. Call | A+ | 2,227,020 | ||
1,000 | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014B, 6.000%, 12/01/24 | No Opt. Call | BB+ | 1,058,760 | ||
1,000 | Los Angeles Community College District, California, General Obligation Bonds, Build America Taxable Bonds, Series 2010, 6.600%, 8/01/42 | No Opt. Call | AA+ | 1,401,160 | ||
2,000 | Los Angeles Community College District, Los Angeles County, California, General Obligation Bonds, Tender Option Bond Trust 2016-XTG002, 23.779%, 8/01/49, 144A (IF) (4) | No Opt. Call | AA+ | 6,604,320 | ||
1,745 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Build America Taxable Bonds, Series 2009C, 6.582%, 5/15/39 | No Opt. Call | AA- | 2,229,499 | ||
2,000 | Los Angeles Department of Water and Power, California, Water System Revenue Bonds, Tender Option Bond Trust 2016-XFT906, 22.425%, 7/01/50, 144A (IF) (4) | No Opt. Call | AA+ | 6,520,580 | ||
535 | Oakland Redevelopment Agency, California, Subordinated Housing Set Aside Revenue Bonds, Federally Taxable Series 2011A-T, 7.500%, 9/01/19 (ETM) | No Opt. Call | AA- (5) | 552,650 | ||
2,200 | San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Build America Taxable Bonds Series 2010A, 5.911%, 4/01/48 | No Opt. Call | AAA | 2,942,764 | ||
1,500 | San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Build America Taxable Bonds, Series 2010G, 6.950%, 11/01/50 | No Opt. Call | AA- | 2,175,285 | ||
940 | San Francisco City and County Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, San Francisco Redevelopment Projects, Taxable Series 2009E, 8.406%, 8/01/39 | No Opt. Call | AA | 1,400,591 | ||
2,000 | San Francisco City and County, California, Certificates of Participation, 525 Golden Gate Avenue, San Francisco Public Utilities Commission Office Project, Tender Option Bond 2016-XFT901, 21.276%, 11/01/41, 144A (IF) (4) | No Opt. Call | Aa1 | 5,036,800 | ||
315 | Stanton Redevelopment Agency, California, Tax Allocation Bonds, Stanton Consolidated Redevelopment Project Series 2011A, 7.000%, 12/01/19 (ETM) | No Opt. Call | A (5) | 333,821 | ||
2,000 | University of California Regents, Medical Center Pooled Revenue Bonds, Taxable Build America Bonds, Series 2010H, 6.548%, 5/15/48 | No Opt. Call | AA- | 2,696,700 | ||
18,735 | Total California | 35,179,950 | ||||
Colorado – 5.8% (5.5% of Total Investments) | ||||||
4,000 | Colorado State Bridge Enterprise Revenue Bonds, Federally Taxable Build America Series 2010A, 6.078%, 12/01/40 (4) | No Opt. Call | AA | 5,019,440 |
NBD | Nuveen Build America Bond Opportunity Fund (continued) |
Portfolio of Investments June 30, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Colorado (continued) | ||||||
$ 1,000 | Colorado State, Certificates of Participation, Ralph L. Carr Justice Complex & Colorado History Center Projects, Build America Bond Series 2009B, 6.450%, 9/15/39 | No Opt. Call | Aa2 | $1,318,860 | ||
2,585 | Regional Transportation District, Colorado, Sales Tax Revenue Bonds, Fastracks Project, Build America Series 2010B, 5.844%, 11/01/50 | No Opt. Call | AA+ | 3,398,680 | ||
7,585 | Total Colorado | 9,736,980 | ||||
Connecticut – 0.9% (0.9% of Total Investments) | ||||||
1,355 | Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Federally Taxable - Issuer Subsidy - Recovery Zone Economic Development Bond Series 2010B, 12.500%, 4/01/39 | 4/20 at 100.00 | N/R | 1,573,277 | ||
Georgia – 3.6% (3.4% of Total Investments) | ||||||
1,000 | Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Bonds, Cobb County Coliseum Project, Taxable Series 2015, 4.500%, 1/01/47 | 1/26 at 100.00 | AAA | 1,034,090 | ||
Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project P Bonds, Refunding Taxable Build America Bonds Series 2010A: | ||||||
1,000 | 7.055%, 4/01/57 – AGM Insured | No Opt. Call | AA | 1,311,110 | ||
2,999 | 7.055%, 4/01/57 | No Opt. Call | A- | 3,625,611 | ||
4,999 | Total Georgia | 5,970,811 | ||||
Illinois – 9.5% (9.0% of Total Investments) | ||||||
3,760 | Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Federally Taxable Build America Bonds, Series 2010B, 6.200%, 12/01/40 | No Opt. Call | AA | 4,659,354 | ||
1,505 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Third Lien, Build America Taxable Bond Series 2010B, 6.845%, 1/01/38 | 1/20 at 100.00 | A | 1,586,586 | ||
2,000 | Illinois State, General Obligation Bonds, Build America Taxable Bonds, Series 2010-5, 7.350%, 7/01/35 | No Opt. Call | BBB | 2,236,540 | ||
3,692 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Build America Taxable Bonds, Senior Lien Series 2009A, 6.184%, 1/01/34 (4) | No Opt. Call | AA- | 4,618,951 | ||
2,000 | Lake County, Illinois, General Obligation Bonds, Series 2010A, 5.250%, 11/30/28 | 11/19 at 100.00 | AAA | 2,076,460 | ||
400 | Northern Illinois Municipal Power Agency, Power Project Revenue Bonds, Prairie State Project, Build America Bond Series 2009C, 6.859%, 1/01/39 | No Opt. Call | A2 | 498,640 | ||
205 | Northern Illinois Municipal Power Agency, Power Project Revenue Bonds, Prairie State Project, Build America Taxable Bond Series 2010A, 7.820%, 1/01/40 | No Opt. Call | A2 | 286,625 | ||
13,562 | Total Illinois | 15,963,156 | ||||
Indiana – 0.8% (0.7% of Total Investments) | ||||||
1,000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Build America Taxable Bonds, Series 2010B-2, 6.116%, 1/15/40 | No Opt. Call | AA | 1,269,080 | ||
Kentucky – 2.8% (2.6% of Total Investments) | ||||||
3,500 | Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Build America Taxable Bonds Series 2010A, 6.250%, 5/15/43 | No Opt. Call | AA | 4,677,820 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Massachusetts – 2.8% (2.6% of Total Investments) | ||||||
$ 2,000 | Massachusetts, Transportation Fund Revenue Bonds, Accelerated Bridge Program, Tender Option Bond Trust 2016-XFT907, 17.753%, 6/01/40, 144A (IF) (4) | No Opt. Call | AAA | $ 4,635,420 | ||
Michigan – 1.3% (1.2% of Total Investments) | ||||||
280 | Charlotte Public School District, Easton County, Michigan, General Obligation Bonds, School Building & Site Series 2010, 7.000%, 5/01/40 | 5/20 at 100.00 | AA- | 293,126 | ||
1,900 | Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Taxable Turbo Series 2006A, 7.309%, 6/01/34 | 6/22 at 100.00 | B- | 1,942,142 | ||
2,180 | Total Michigan | 2,235,268 | ||||
Mississippi – 1.5% (1.4% of Total Investments) | ||||||
2,085 | Mississippi State, General Obligation Bonds, Build America Taxable Bond Series 2010F, 5.245%, 11/01/34 | No Opt. Call | AA | 2,438,387 | ||
Nevada – 1.3% (1.2% of Total Investments) | ||||||
1,500 | Clark County, Nevada, Airport Revenue Bonds, Taxable Direct Payment Build America Bond Series 2010C, 6.820%, 7/01/45 (4) | No Opt. Call | Aa2 | 2,191,680 | ||
New Jersey – 4.5% (4.3% of Total Investments) | ||||||
1,500 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Build America Bonds Issuer Subsidy Program, Series 2010C, 5.754%, 12/15/28 | No Opt. Call | A- | 1,668,135 | ||
2,537 | New Jersey Turnpike Authority, Revenue Bonds, Build America Taxable Bonds, Series 2010A, 7.102%, 1/01/41 | No Opt. Call | A+ | 3,579,403 | ||
2,000 | Rutgers State University, New Jersey, Revenue Bonds, Build America Taxable Bond Series 2010H, 5.665%, 5/01/40 | No Opt. Call | Aa3 | 2,386,180 | ||
6,037 | Total New Jersey | 7,633,718 | ||||
New York – 13.3% (12.6% of Total Investments) | ||||||
2,000 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender Option Bond Trust 2016-XFT903, 16.726%, 3/15/40, 144A (IF) (4) | No Opt. Call | AAA | 4,264,920 | ||
1,290 | Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Build America Taxable Bonds, Series 2010C, 7.336%, 11/15/39 | No Opt. Call | AA | 1,890,818 | ||
1,270 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Federally Taxable Issuer Subsidy Build America Bonds, Series 2010A, 6.668%, 11/15/39 | No Opt. Call | AA- | 1,696,999 | ||
1,500 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Build America Taxable Bonds, Fiscal 2011 Series AA, 5.440%, 6/15/43 | No Opt. Call | AA+ | 1,846,215 | ||
2,000 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Taxable Tender Option Bonds Trust 2016-XFT908, 18.475%, 6/15/44, 144A (IF) | No Opt. Call | AA+ | 5,052,640 | ||
3,750 | New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Build America Taxable Bond Fiscal 2011 Series 2010S-1B, 6.828%, 7/15/40 (4) | No Opt. Call | AA | 5,015,700 | ||
1,500 | New York City, New York, General Obligation Bonds, Federally Taxable Build America Bonds, Series 2010-F1, 6.646%, 12/01/31 | 12/20 at 100.00 | AA | 1,619,490 | ||
1,000 | New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Taxable Series 2016B, 3.673%, 7/01/30 | No Opt. Call | BBB | 952,870 | ||
14,310 | Total New York | 22,339,652 |
NBD | Nuveen Build America Bond Opportunity Fund (continued) |
Portfolio of Investments June 30, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
North Carolina – 1.2% (1.1% of Total Investments) | ||||||
North Carolina Turnpike Authority, Triangle Expressway System State Annual Appropriation Revenue Bonds, Federally Taxable Issuer Subsidy Build America Bonds, Series 2009B: | ||||||
$ 830 | 6.700%, 1/01/39 | 1/19 at 100.00 | AA+ | $845,405 | ||
1,125 | 6.700%, 1/01/39 (Pre-refunded 1/01/19) | 1/19 at 100.00 | N/R (5) | 1,150,020 | ||
1,955 | Total North Carolina | 1,995,425 | ||||
Ohio – 7.1% (6.7% of Total Investments) | ||||||
1,500 | American Municipal Power Inc., Ohio, Meldahl Hydroelectric Projects Revenue Bonds, Build America Bond Series 2010B, 7.499%, 2/15/50 | No Opt. Call | A | 2,214,900 | ||
2,690 | American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Build America Bond Series 2009C, 6.053%, 2/15/43 | No Opt. Call | A1 | 3,404,518 | ||
2,850 | Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Build America Taxable Bonds, Series 2010, 6.038%, 11/15/40 (4) | 11/20 at 100.00 | AA+ | 3,036,532 | ||
3,075 | Port of Greater Cincinnati Development Authority, Ohio, Special Obligation TIF Revenue Bonds, Cooperative Township Public Parking, Kenwood Collection Redevelopment, Senior Lien Series 2016A, 6.600%, 1/01/39 | 1/26 at 100.00 | N/R | 2,956,428 | ||
235 | Toledo Lucas County Port Authority, Ohio, Revenue Bonds, StoryPoint Waterville Project, Taxable Series 2016A-2, 8.500%, 1/15/22, 144A | No Opt. Call | N/R | 227,790 | ||
10,350 | Total Ohio | 11,840,168 | ||||
Pennsylvania – 3.2% (3.0% of Total Investments) | ||||||
2,000 | Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Taxable Series 2016A, 4.144%, 6/01/38 | No Opt. Call | A1 | 2,022,040 | ||
2,715 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Build America Taxable Bonds, Series 2010B, 5.511%, 12/01/45 | No Opt. Call | A+ | 3,349,143 | ||
4,715 | Total Pennsylvania | 5,371,183 | ||||
South Carolina – 6.4% (6.0% of Total Investments) | ||||||
6,735 | South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper, Federally Taxable Build America Series 2010C, 6.454%, 1/01/50 (UB) | No Opt. Call | A+ | 9,087,198 | ||
155 | South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper, Federally Taxable Build America Tender Option Bond Trust 2016-XFT909, 21.209%, 1/01/50, 144A (IF) | No Opt. Call | A+ | 425,672 | ||
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2013C: | ||||||
250 | 5.784%, 12/01/41 | No Opt. Call | A+ | 296,550 | ||
750 | 5.784%, 12/01/41 – AGM Insured | No Opt. Call | AA | 905,895 | ||
7,890 | Total South Carolina | 10,715,315 | ||||
Tennessee – 3.3% (3.1% of Total Investments) | ||||||
4,060 | Metropolitan Government Nashville & Davidson County Convention Center Authority, Tennessee, Tourism Tax Revenue Bonds, Build America Taxable Bonds, Subordinate Lien Series 2010B, 6.731%, 7/01/43 | No Opt. Call | Aa3 | 5,488,105 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas – 8.3% (7.8% of Total Investments) | ||||||
$ 1,000 | Bexar County Hospital District, Texas, Certificates of Obligation, Taxable Build America Bond Series 2009B, 6.904%, 2/15/39 | 2/19 at 100.00 | AA+ | $1,026,050 | ||
2,520 | Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Build America Taxable Bonds, Series 2009B, 5.999%, 12/01/44 | No Opt. Call | AA+ | 3,277,386 | ||
2,500 | Dallas Convention Center Hotel Development Corporation, Texas, Hotel Revenue Bonds, Build America Taxable Bonds, Series 09B, 7.088%, 1/01/42 | No Opt. Call | A | 3,316,725 | ||
2,000 | Dallas County Hospital District, Texas, General Obligation Limited Tax Bonds, Build America Taxable Bonds, Series 2009C, 5.621%, 8/15/44 | No Opt. Call | AA- | 2,477,520 | ||
Houston, Texas, General Obligation Bonds, Public Improvement, Build America Bond Series 2010B: | ||||||
470 | 6.319%, 3/01/30 (Pre-refunded 3/01/20) | 3/20 at 100.00 | N/R (5) | 498,092 | ||
530 | 6.319%, 3/01/30 | 3/20 at 100.00 | AA | 555,668 | ||
2,500 | North Texas Tollway Authority, System Revenue Bonds, Taxable Build America Bonds, Series 2010-B2, 8.910%, 2/01/30 | 2/20 at 100.00 | Baa2 | 2,720,450 | ||
11,520 | Total Texas | 13,871,891 | ||||
Virginia – 3.4% (3.2% of Total Investments) | ||||||
1,000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien Revenue Bonds, Build America Bonds, Series 2009D, 7.462%, 10/01/46 – AGC Insured | No Opt. Call | BBB+ | 1,473,390 | ||
4,275 | Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Refunding Senior Lien Series 2007A, 6.706%, 6/01/46 | 6/25 at 100.00 | B- | 4,240,030 | ||
5,275 | Total Virginia | 5,713,420 | ||||
Washington – 2.2% (2.1% of Total Investments) | ||||||
2,935 | Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds, Build America Taxable Bond Series 2010B, 6.790%, 7/01/40 | No Opt. Call | Aa3 | 3,768,833 | ||
West Virginia – 1.3% (1.2% of Total Investments) | ||||||
2,230 | Tobacco Settlement Finance Authority, West Virginia, Tobacco Settlement Asset-Backed Bonds, Taxable Turbo Series 2007A, 7.467%, 6/01/47 | 6/25 at 100.00 | B+ | 2,229,889 | ||
$ 130,778 | Total Long-Term Investments (cost $137,590,710) | 177,834,358 | ||||
Floating Rate Obligations – (3.2)% | (5,390,000) | |||||
Reverse Repurchase Agreements – (7.2)% (6) | (12,000,000) | |||||
Other Assets Less Liabilities – 4.3% (7) | 7,162,590 | |||||
Net Assets Applicable to Common Shares – 100% | $ 167,606,948 |
NBD | Nuveen Build America Bond Opportunity Fund (continued) |
Portfolio of Investments June 30, 2018 | |
(Unaudited) |
Interest Rate Swaps - OTC Cleared | |||||||||||
Notional
Amount |
Fund
Pay/Receive Floating Rate |
Floating Rate Index | Fixed
Rate (Annualized) |
Fixed
Rate Payment Frequency |
Effective
Date (8) |
Maturity
Date |
Value | Premiums
Paid (Received) |
Unrealized
Appreciation (Depreciation) |
Variation
Margin Receivable/ (Payable) | |
$46,000,000 | Receive | 3-Month LIBOR | 2.363% | Semi-Annually | 9/10/18 | 9/10/28 | $2,340,822 | $750 | $2,340,072 | $18,612 | |
32,000,000 | Receive | 3-Month LIBOR | 2.565% | Semi-Annually | 2/08/19 | 2/08/29 | 1,116,811 | 671 | 1,116,140 | 12,410 | |
14,800,000 | Receive | 3-Month LIBOR | 3.097% | Semi-Annually | 5/24/19 | 5/24/34 | (188,971) | 634 | (189,605) | 9,385 | |
Total | $92,800,000 | $3,268,662 | $2,055 | $3,266,607 | $40,407 |
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Municipal Bonds | $ — | $177,834,358 | $ — | $177,834,358 |
Investments in Derivatives: | ||||
Interest Rate Swaps* | — | 3,266,607 | — | 3,266,607 |
Total | $ — | $181,100,965 | $ — | $181,100,965 |
* | Represents net unrealized appreciation (depreciation). |
Tax cost of investments | $132,728,489 |
Gross unrealized: | |
Appreciation | $ 40,697,713 |
Depreciation | (985,309) |
Net unrealized appreciation (depreciation) of investments | $ 39,712,404 |
Tax cost of swaps | $ 2,055 |
Net unrealized appreciation (depreciation) of swaps | 3,266,607 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |
(2) | 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. | |
(3) | 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. | |
(4) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for inverse floating rate transactions and/or reverse repurchase agreements. | |
(5) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. | |
(6) | Reverse Repurchase Agreements as a percentage of Total Investments is 6.7%. | |
(7) | 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. | |
(8) | 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. | |
ETM | Escrowed to maturity. | |
IF | Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. | |
LIBOR | London Inter-Bank Offered Rate | |
UB | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
Item 2. Controls and Procedures.
a. | The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants 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 registrants 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 registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting. |
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | Nuveen Build America Bond Opportunity Fund | |||
By (Signature and Title) | /s/ Gifford R. Zimmerman | |||
Gifford R. Zimmerman | ||||
Vice President and Secretary |
Date: August 29, 2018
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: August 29, 2018 | ||||
By (Signature and Title) | /s/ Stephen D. Foy | |||
Stephen D. Foy | ||||
Vice President and Controller (principal financial officer) | ||||
Date: August 29, 2018 |