Edgar Filing: NUVEEN DIVERSIFIED DIVIDEND & INCOME FUND

Nuveen Diversified Dividend and Income 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 811-21407

Nuveen Diversified Dividend and Income 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: December 31

Date of reporting period: March 31, 2016

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

JDD


Nuveen Diversified Dividend and Income Fund
Portfolio of Investments		March 31, 2016 (Unaudited)


Shares		Description (1)	Value

		LONG-TERM INVESTMENTS – 139.1% (96.4% of Total Investments)

		COMMON STOCKS – 30.4% (21.0% of Total Investments)

		Air Freight & Logistics – 1.3%

	72,000	Deutsche Post AG	$	2,000,701
	12,600	United Parcel Service, Inc., Class B, (2)		1,328,922
		Total Air Freight & Logistics		3,329,623

		Airlines – 0.3%

	9,400	Copa Holdings SA, Class A		636,850

		Automobiles – 0.5%

	17,200	Daimler AG, Sponsored ADR, (3)		1,340,912

		Banks – 3.0%

	372,400	Barclays PLC		802,289
	39,300	CIT Group Inc.		1,219,479
	41,200	Citigroup Inc.		1,720,100
	106,500	ING Groep N.V, Sponsored ADR		1,270,545
	21,700	JPMorgan Chase & Co.		1,285,074
	24,500	Wells Fargo & Company, (2)		1,184,820
		Total Banks		7,482,307

		Biotechnology – 0.6%

	27,000	AbbVie Inc.		1,542,240

		Capital Markets – 1.4%

	89,000	Ares Capital Corporation		1,320,760
	34,500	Bank New York Mellon, (2)		1,270,635
	51,000	UBS Group AG		821,580
		Total Capital Markets		3,412,975

		Chemicals – 1.1%

	21,300	Agrium Inc.		1,880,577
	91,000	CVR Partners LP		760,760
		Total Chemicals		2,641,337

		Communications Equipment – 1.0%

	46,000	Cisco Systems, Inc.		1,309,620
	113,000	Ericsson, Sponsored ADR		1,133,390
		Total Communications Equipment		2,443,010

		Containers & Packaging – 0.3%

	10,400	Avery Dennison Corporation		749,944

		Diversified Financial Services – 1.2%

	151,100	Challenger Limited		971,778
	233,000	Deutsche Boerse AG, ADR, (3)		1,973,510
		Total Diversified Financial Services		2,945,288

		Diversified Telecommunication Services – 1.5%

	68,300	Nippon Telegraph and Telephone Corporation, ADR		2,953,292
	67,500	Telefonica Brasil SA		849,276
		Total Diversified Telecommunication Services		3,802,568


Nuveen Investments			1


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


Shares		Description (1)	Value

		Electric Utilities – 0.7%

	12,000	Edison International	$	862,680
	247,000	EDP – Energias de Portugal, S.A.		878,597
		Total Electric Utilities		1,741,277

		Electrical Equipment – 0.3%

	13,900	Eaton PLC		869,584

		Food & Staples Retailing – 0.6%

	14,700	CVS Health Corporation		1,524,831

		Food Products – 0.7%

	204,500	Orkla ASA, Sponsored ADR		1,837,433

		Health Care Providers & Services – 0.1%

	10,108	Millennium Health LLC, (3), (4)		152,884

		Hotels, Restaurants & Leisure – 0.3%

	10,900	Cedar Fair LP		648,005

		Household Durables – 0.3%

	49,000	Sekisui House, Ltd.		827,007

		Industrial Conglomerates – 0.8%

	28,000	General Electric Company, (2)		890,120
	39,000	Philips Electronics		1,113,450
		Total Industrial Conglomerates		2,003,570

		Insurance – 2.9%

	8,000	Allianz AG ORD Shares		1,301,302
	162,100	CGNU PLC		1,061,874
	94,200	Swiss Re AG, Sponsored ADR, (3)		2,176,962
	83,300	Unum Group		2,575,636
		Total Insurance		7,115,774

		Media – 2.6%

	51,400	Interpublic Group of Companies, Inc.		1,179,630
	2,099	Metro-Goldwyn-Mayer, (3), (4)		147,980
	43,500	National CineMedia, Inc.		661,635
	64,500	ProSiebenSat.1 Media AG, ADR, (3)		823,020
	127,000	RTL Group SA, ADR, (3)		1,073,849
	21,300	Time Warner Inc.		1,545,315
	3,958	Tribune Media Company, Class A		151,789
	3,185	Tribune Media Company, (5)		—
	989	Tribune Publishing Company		7,635
	21,600	Viacom Inc., Class B		891,648
		Total Media		6,482,501

		Multiline Retail – 0.7%

	20,800	Target Corporation, Sponsored ADR, (2)		1,711,424

		Multi-Utilities – 0.7%

	76,500	Veolia Environment S.A., ADR		1,842,834

		Oil, Gas & Consumable Fuels – 0.8%

	7,300	Phillips 66		632,107
	23,800	Suncor Energy, Inc.		661,878
	14,100	Total SA, Sponsored ADR		640,422
		Total Oil, Gas & Consumable Fuels		1,934,407


	2			Nuveen Investments


Shares		Description (1)	Value

		Pharmaceuticals – 2.9%

	68,500	AstraZeneca PLC, Sponsored ADR	$	1,928,960
	75,300	GlaxoSmithKline PLC, Sponsored ADR		3,053,414
	50,000	Roche Holdings AG, Sponsored ADR, (3)		1,531,250
	13,800	Teva Pharmaceutical Industries Limited, Sponsored ADR		738,438
		Total Pharmaceuticals		7,252,062

		Semiconductors & Semiconductor Equipment – 0.4%

	66,300	Infineon Technologies AG		943,412

		Software – 2.0%

	246,734	Eagle Topco LP, (4), (5)		—
	36,000	Microsoft Corporation, (2)		1,988,280
	75,000	Oracle Corporation		3,068,250
		Total Software		5,056,530

		Technology Hardware, Storage & Peripherals – 0.3%

	19,000	Seagate Technology		654,550

		Tobacco – 1.1%

	24,500	Imperial Brands PLC, Sponsored ADR, (3)		2,720,725
		Total Common Stocks (cost $68,907,967)		75,645,864

Shares		Description (1)	Value

		REAL ESTATE INVESTMENT TRUST (REIT) COMMON STOCKS – 38.3% (26.6% of Total Investments)

		Diversified – 1.2%

	41,000	Duke Realty Corporation	$	924,140
	60,700	Liberty Property Trust		2,031,022
		Total Diversified		2,955,162

		Health Care – 5.0%

	68,650	Health Care Property Investors Inc.		2,236,617
	131,050	Senior Housing Properties Trust		2,344,485
	45,900	Ventas Inc.		2,889,864
	72,400	Welltower Inc.		5,020,215
		Total Health Care		12,491,181

		Hotels, Restaurants & Leisure – 2.0%

	33,600	Chesapeake Lodging Trust		889,056
	139,292	Host Hotels & Resorts Inc.		2,326,176
	35,450	LaSalle Hotel Properties		897,240
	34,000	Pebblebrook Hotel Trust		988,380
		Total Hotels, Restaurants & Leisure		5,100,852

		Industrial – 2.4%

	28,450	DCT Industrial Trust Inc.		1,122,922
	112,448	Prologis Inc.		4,967,952
		Total Industrial		6,090,874

		Mortgage – 0.3%

	45,500	PennyMac Mortgage Investment Trust		620,620

		Office – 7.7%

	31,600	Alexandria Real Estate Equities Inc.		2,872,124
	20,900	Boston Properties, Inc.		2,655,972
	57,850	Columbia Property Trust Inc.		1,272,122
	81,600	Douglas Emmett Inc.		2,456,976
	49,300	Hudson Pacific Properties Inc.		1,425,756
	16,500	Kilroy Realty Corporation		1,020,855


Nuveen Investments			3


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


Shares		Description (1)					Value

		Office (continued)

	99,900	Paramount Group Inc.					$	1,593,405
	47,150	Piedmont Office Realty Trust, Class A						957,617
	12,700	SL Green Realty Corporation						1,230,376
	37,950	Vornado Realty Trust						3,583,618
		Total Office						19,068,821

		Residential – 6.6%

	66,876	Apartment Investment & Management Company, Class A						2,796,754
	22,275	AvalonBay Communities, Inc.						4,236,705
	15,450	Camden Property Trust						1,299,191
	12,150	Equity Lifestyles Properties Inc.						883,670
	53,750	Equity Residential						4,032,862
	6,050	Essex Property Trust Inc.						1,414,853
	47,700	UDR Inc.						1,837,881
		Total Residential						16,501,916

		Retail – 9.7%

	69,050	Brixmor Property Group Inc.						1,769,061
	108,400	Developers Diversified Realty Corporation						1,928,436
	73,960	General Growth Properties Inc.						2,198,831
	42,650	Kimco Realty Corporation						1,227,467
	20,800	Kite Realty Group Trust						576,368
	41,441	Macerich Company						3,283,784
	22,150	Regency Centers Corporation						1,657,928
	51,350	Retail Opportunity Investments Corporation						1,033,162
	71,950	Retail Properties of America Inc., Class A						1,140,408
	39,285	Simon Property Group, Inc.						8,159,101
	17,000	Taubman Centers Inc.						1,210,910
		Total Retail						24,185,456

		Specialized – 3.4%

	49,950	CubeSmart						1,663,335
	9,150	Extra Space Storage Inc.						855,159
	20,500	National Storage Affiliates Trust						434,600
	20,024	Public Storage, Inc.						5,523,220
		Total Specialized						8,476,314
		Total Real Estate Investment Trust (REIT) Common Stocks (cost $61,384,308)						95,491,196

Shares		Description (1)	Coupon		Ratings (6)		Value

		CONVERTIBLE PREFERRED SECURITIES – 1.8% (1.3% of Total Investments)

		Diversified Telecommunication Services – 0.5%

	13,710	Frontier Communications Corporation		11.125%		N/R	$	1,431,324

		Pharmaceuticals – 1.3%

	3,570	Teva Pharmaceutical Industries Limited, (3)		7.000%		N/R		3,134,460
		Total Convertible Preferred Securities (cost $4,764,879)						4,565,784

Shares		Description (1)	Coupon		Ratings (6)		Value

		$25 PAR (OR SIMILAR) RETAIL PREFERRED – 0.5% (0.3% of Total Investments)

		Banks – 0.3%

	36,400	RBS Capital Trust		6.080%		BB–	$	877,968

		Consumer Finance – 0.1%

	6,400	HSBC Finance Corporation		6.360%		BBB–		160,512

		Wireless Telecommunication Services – 0.1%

	5,100	United States Cellular Corporation		7.250%		Ba1		130,458
		Total $25 Par (or similar) Retail Preferred (cost $1,172,318)						1,168,938


	4			Nuveen Investments


Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (6)		Value

		$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 1.1% (0.8% of Total Investments)

		Banks – 1.1%

$	961	Bank of America Corporation		6.100%		N/A (7)		BB+	$	946,585
	361	Citigroup Inc.		5.950%		N/A (7)		BB+		347,801
	526	Citigroup Inc.		5.950%		N/A (7)		BB+		503,382
	923	Wells Fargo & Company		5.875%		N/A (7)		BBB		985,579
		Total $1,000 Par (or similar) Institutional Preferred (cost $2,786,465)								2,783,347

Principal Amount (000)		Description (1)	Coupon (8)		Maturity (9)		Ratings (6)		Value

		VARIABLE RATE SENIOR LOAN INTERESTS – 32.7% (22.7% of Total Investments) (8)

		Aerospace & Defense – 0.2%

$	610	B/E Aerospace, Inc., Term Loan B, First Lien		4.000%		12/16/21		BB+	$	612,407

		Airlines – 1.2%

	491	American Airlines, Inc., Term Loan B, First Lien		3.250%		6/29/20		BB+		489,370
	484	Delta Air Lines, Inc., Term Loan B1		3.250%		10/18/18		BBB		484,455
	1,980	US Airways, Inc., Term Loan B2, First Lien		3.000%		11/23/16		BB+		1,980,932
	2,955	Total Airlines								2,954,757

		Automobiles – 0.9%

	574	Chrysler Group LLC, Term Loan B		3.500%		5/24/17		BBB–		574,380
	576	Chrysler Group LLC, Tranche B, Term Loan		3.250%		12/31/18		BBB–		575,499
	1,114	Formula One Group, Term Loan, First Lien		4.750%		7/30/21		B		1,083,011
	2,264	Total Automobiles								2,232,890

		Building Products – 0.2%

	403	Gates Global LLC, Term Loan		4.250%		7/06/21		B+		381,285

		Capital Markets – 0.2%

	488	Guggenheim Partners LLC, Initial Term Loan		4.250%		7/22/20		N/R		487,297

		Chemicals – 0.7%

	886	US Coatings Acquisition, Term Loan B		3.750%		2/01/20		BB–		881,047
	199	Mineral Technologies, Inc., Term Loan B2		4.750%		5/07/21		BB		199,246
	783	Univar, Inc., Term Loan B, First Lien		4.250%		7/01/22		BB–		772,975
	1,868	Total Chemicals								1,853,268

		Commercial Services & Supplies – 0.4%

	936	ADS Waste Holdings, Inc., Initial Term Loan, Tranche B2		3.750%		10/09/19		B+		929,366

		Communications Equipment – 0.1%

	269	Commscope, Inc., Term Loan B, First Lien		3.827%		12/29/22		BB		268,469

		Construction & Engineering – 0.1%

	221	Aecom Technology Corporation, Term Loan B		3.750%		10/17/21		BBB–		222,066

		Consumer Finance – 0.6%

	500	First Data Corporation, Term Loan B, First Lien, (DD1)		4.432%		3/24/21		BB		499,407
	1,000	First Data Corporation, Term Loan B		4.177%		7/08/22		BB		995,521
	1,500	Total Consumer Finance								1,494,928

		Containers & Packaging – 0.8%

	463	Berry Plastics Holding Corporation, Term Loan F		4.000%		10/03/22		BB		463,743
	1,527	Reynolds Group Holdings, Inc., Incremental US Term Loan, First Lien		4.500%		12/01/18		B+		1,528,322
	1,990	Total Containers & Packaging								1,992,065


Nuveen Investments			5


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


Principal Amount (000)		Description (1)	Coupon (8)		Maturity (9)		Ratings (6)		Value

		Diversified Consumer Services – 0.6%

$	1,112	Hilton Hotels Corporation, Term Loan B2		3.500%		10/25/20		BBB–	$	1,113,509
	452	ServiceMaster Company, Term Loan		4.250%		7/01/21		BB–		452,598
	1,564	Total Diversified Consumer Services								1,566,107

		Diversified Telecommunication Services – 1.1%

	148	Intelsat Jackson Holdings, S.A., Tranche B2, Term Loan		3.750%		6/30/19		B1		138,322
	243	Level 3 Financing, Inc., Term Loan B2		3.500%		5/31/22		Ba1		243,324
	982	SBA Communication, Incremental Term Loan, Tranche B1		3.250%		3/24/21		BB		979,860
	341	WideOpenWest Finance LLC, Term Loan B		4.500%		4/01/19		Ba3		338,758
	370	Ziggo N.V., Term Loan B1		3.500%		1/15/22		BB–		365,858
	238	Ziggo N.V., Term Loan B2		3.508%		1/15/22		BB–		235,766
	392	Ziggo N.V., Term Loan B3, Delayed Draw		3.601%		1/15/22		BB–		387,751
	2,714	Total Diversified Telecommunication Services								2,689,639

		Electric Utilities – 0.4%

	1,000	Energy Future Intermediate Holding Company, Term Loan		4.250%		12/19/16		N/R		1,000,208

		Energy Equipment & Services – 0.0%

	150	Drill Rigs Holdings, Inc., Tranche B1, Term Loan		6.000%		3/31/21		CCC+		54,715

		Food & Staples Retailing – 1.4%

	1,980	Albertson’s LLC, Term Loan B4		5.500%		8/25/21		BB		1,984,332
	500	BJ’s Wholesale Club, Inc., Replacement Loan, Second Lien		8.500%		3/26/20		CCC		461,750
	1,000	Rite Aid Corporation, Tranche 2, Term Loan, Second Lien		4.875%		6/21/21		BB		1,003,125
	3,480	Total Food & Staples Retailing								3,449,207

		Food Products – 1.9%

	900	Jacobs Douwe Egberts, Term Loan B		4.250%		7/02/22		BB		901,895
	3,770	US Foods, Inc., Incremental Term Loan		4.500%		3/31/19		B		3,757,626
	4,670	Total Food Products								4,659,521

		Health Care Equipment & Supplies – 1.4%

	740	Alere, Inc., Term Loan B		4.250%		6/20/22		Ba3		736,422
	881	ConvaTec Healthcare, Term Loan B		4.250%		6/15/20		N/R		878,821
	1,437	Kinetic Concepts, Inc., Incremental Term Loan E1		4.500%		5/04/18		BB–		1,431,029
	430	Sterigenics International, Inc., Term Loan B		4.250%		5/16/22		B1		424,868
	3,488	Total Health Care Equipment & Supplies								3,471,140

		Health Care Providers & Services – 2.5%

	988	Acadia Healthcare, Inc., Term Loan B, First Lien		4.250%		2/11/22		Ba2		990,895
	786	Amsurg Corporation, Term Loan, First Lien		3.500%		7/16/21		Ba2		787,255
	434	Community Health Systems, Inc., Term Loan G		3.750%		12/31/19		BB		427,437
	869	Community Health Systems, Inc., Term Loan H		4.000%		1/27/21		BB		855,832
	1	Community Health Systems, Inc., Term Loan F		3.657%		12/31/18		BB		1,126
	817	DaVita HealthCare Partners, Inc., Tranche B, Term Loan		3.500%		6/24/21		Ba1		819,441
	1,117	Drumm Investors LLC, Term Loan		6.750%		5/04/18		B		1,083,741
	975	HCA, Inc., Tranche B4, Term Loan		3.381%		5/01/18		BBB–		976,108
	57	HCA, Inc., Term Loan B6, First Lien		3.683%		3/17/23		BBB–		57,254
	345	Millennium Laboratories, Inc., Term Loan B, First Lien		7.500%		12/21/20		N/R		330,032
	6,389	Total Health Care Providers & Services								6,329,121

		Hotels, Restaurants & Leisure – 1.5%

	1,044	Burger King Corporation, Term Loan B		3.750%		12/10/21		Ba3		1,045,000
	969	MGM Resorts International, Term Loan B		3.500%		12/20/19		BB+		967,906
	1,813	Seaworld Parks and Entertainment, Inc., Term Loan B2		3.000%		5/14/20		BB		1,765,695
	3,826	Total Hotels, Restaurants & Leisure								3,778,601

		Household Durables – 0.8%

	886	Serta Simmons Holdings LLC, Term Loan		4.250%		10/01/19		BB–		886,114


	6			Nuveen Investments


Principal Amount (000)		Description (1)	Coupon (8)		Maturity (9)		Ratings (6)		Value

		Household Durables (continued)

$	975	Jarden Corporation, Term Loan B1		3.183%		9/30/20		BBB–	$	975,507
	93	Tempur-Pedic International, Inc., New Term Loan B		3.500%		3/18/20		BBB–		92,830
	1,954	Total Household Durables								1,954,451

		Household Products – 0.2%

	421	Spectrum Brands, Inc., Term Loan		3.500%		6/23/22		BB+		422,930

		Independent Power & Renewable Electricity Producers – 0.4%

	977	Calpine Corporation, Delayed Term Loan		4.000%		10/31/20		BB+		972,613

		Internet & Catalog Retail – 0.4%

	986	Travelport LLC, Term Loan B, First Lien		5.750%		9/02/21		B+		986,863

		Internet Software & Services – 0.3%

	825	Tibco Software, Inc., Term Loan B		6.500%		12/04/20		B1		753,844

		IT Services – 0.3%

	728	Vantiv, Inc., Term Loan B		3.750%		6/13/21		BBB–		729,108

		Leisure Products – 0.7%

	1,495	24 Hour Fitness Worldwide, Inc., Term Loan B		4.750%		5/28/21		Ba3		1,453,411
	347	Academy, Ltd., Term Loan B		5.000%		7/01/22		B		331,774
	1,842	Total Leisure Products								1,785,185

		Machinery – 0.2%

	488	Rexnord LLC, Term Loan B		4.000%		8/21/20		BB–		481,508

		Media – 3.2%

	497	Cequel Communications LLC, Extended Term Loan		4.250%		12/14/22		BB–		496,549
	972	Charter Communications Operating Holdings LLC, Term Loan E		3.000%		7/01/20		Baa3		970,296
	92	Clear Channel Communications, Inc., Term Loan E		7.928%		7/30/19		Caa1		63,631
	748	Clear Channel Communications, Inc., Tranche D, Term Loan		7.178%		1/30/19		Caa1		513,974
	1,880	Cumulus Media, Inc., Term Loan B		4.250%		12/23/20		B3		1,278,651
	297	Gray Television, Inc., Initial Term Loan		3.750%		6/13/21		BB		296,470
	646	Yell Group PLC, Term Loan B2, PIK, (5), (11)		0.000%		3/03/24		N/R		—
	131	Yell Group PLC, Term Loan A2		5.586%		3/01/19		N/R		321,753
	6	Yell Group PLC, Term Loan A2, (5)		1.500%		3/03/19		N/R		—
	935	Media General, Inc., Term Loan B		4.000%		7/31/20		BB+		934,450
	529	Numericable Group S.A., Term Loan B1		4.500%		5/21/20		B+		526,621
	458	Numericable Group S.A., Term Loan B2		4.500%		5/21/20		B+		455,599
	547	Springer Science & Business Media, Inc., Term Loan B9, First Lien		4.750%		8/14/20		B1		530,069
	1,516	Univision Communications, Inc., Replacement Term Loan, First Lien		4.000%		3/01/20		B+		1,503,186
	9,254	Total Media								7,891,249

		Multiline Retail – 0.5%

	495	Bass Pro Group LLC, Term Loan B, First Lien		4.000%		6/05/20		BB–		477,675
	526	Dollar Tree, Inc., Term Loan B1		3.500%		7/06/22		BBB		527,351
	240	Dollar Tree, Inc., Term Loan B2		4.250%		7/06/22		BBB		240,113
	1,261	Total Multiline Retail								1,245,139

		Oil, Gas & Consumable Fuels – 0.3%

	500	Energy Transfer Equity L.P., Term Loan, First Lien		3.250%		12/02/19		BB+		447,813
	214	Fieldwood Energy LLC, Term Loan, Second Lien		8.375%		9/30/20		CCC–		38,029
	152	Harvey Gulf International Marine, Inc., Term Loan B		5.500%		6/18/20		B–		82,192
	306	Seadrill Partners LLC, Initial Term Loan		4.000%		2/21/21		B–		136,245
	61	Southcross Holdings Borrower L.P., Holdco Term Loan, (11)		6.000%		8/04/21		D		7,104
	1,233	Total Oil, Gas & Consumable Fuels								711,383


Nuveen Investments			7


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


Principal Amount (000)		Description (1)	Coupon (8)		Maturity (9)		Ratings (6)		Value

		Pharmaceuticals – 1.1%

$	748	Endo Health Solutions, Inc., Term Loan B		3.750%		9/26/22		Ba1	$	737,838
	642	Grifols, Inc., Term Loan		3.433%		2/27/21		Ba1		642,733
	233	Quintiles Transnational Corp., Term Loan B		3.250%		5/06/22		BBB–		233,085
	1,194	Valeant Pharmaceuticals International, Inc., Tranche B, Term Loan E		3.750%		8/05/20		BB		1,125,409
	2,817	Total Pharmaceuticals								2,739,065

		Professional Services – 0.1%

	368	Nielsen Finance LLC, Dollar Term Loan B2		3.441%		4/15/21		BBB		368,981

		Real Estate Investment Trust – 0.8%

	1,340	Communications Sales & Leasing, Inc., Term Loan B, First Lien		5.000%		10/24/22		BB+		1,300,014
	832	Walter Investment Management Corporation, Tranche B, Term Loan, First Lien		4.750%		12/18/20		BB–		727,071
	2,172	Total Real Estate Investment Trust								2,027,085

		Real Estate Management & Development – 0.2%

	514	Capital Automotive LP, Term Loan, Tranche B1		4.000%		4/10/19		Ba2		515,143

		Semiconductors & Semiconductor Equipment – 1.7%

	1,500	Avago Technologies, Term Loan B, First Lien		4.250%		11/13/22		BBB		1,494,479
	926	Microsemi Corporation, Term Loan B, First Lien		5.250%		12/17/22		Ba2		931,914
	998	NXP Semiconductor LLC, Term Loan B, First Lien		3.750%		12/07/20		BBB–		1,001,318
	721	NXP Semiconductor LLC, Term Loan D		3.250%		1/11/20		BBB–		718,247
	4,145	Total Semiconductors & Semiconductor Equipment								4,145,958

		Software – 2.3%

	473	BMC Software, Inc., Initial Term Loan		5.000%		9/10/20		B1		395,778
	998	Computer Sciences Government Services, Term Loan B, First Lien		3.750%		10/06/22		BB+		1,000,149
	791	Ellucian, Term Loan B, First Lien		4.750%		9/30/22		B		779,467
	951	Emdeon Business Services LLC, Term Loan B2		3.750%		11/02/18		Ba3		947,982
	753	Infor Global Solutions Intermediate Holdings, Ltd., Term Loan B5		3.750%		6/03/20		B+		732,044
	762	SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., Term Loan B1		4.007%		7/08/22		BB		764,714
	110	SS&C Technologies, Inc./ Sunshine Acquisition II, Inc., Term Loan B2		4.018%		7/08/22		BB		110,850
	997	Zebra Technologies Corporation, Term Loan B, First Lien		4.750%		10/27/21		BB+		1,003,464
	5,835	Total Software								5,734,448

		Specialty Retail – 1.4%

	559	Burlington Coat Factory Warehouse Corporation, Term Loan B3		4.250%		8/13/21		BB		558,849
	1,652	Jo-Ann Stores, Inc., Term Loan, First Lien		4.000%		3/16/18		Ba3		1,612,097
	951	Petco Animal Supplies, Inc., Term Loan B1		5.750%		1/15/23		B1		949,727
	447	Petsmart, Inc., Term Loan B		4.250%		3/11/22		BB–		445,341
	3,609	Total Specialty Retail								3,566,014

		Technology Hardware, Storage & Peripherals – 0.8%

	980	Dell, Inc., Term Loan B2		4.000%		4/29/20		BBB		979,910
	1,000	Western Refining, Inc., Term Loan B, First Lien, (WI/DD)		TBD		TBD		Ba1		989,375
	1,980	Total Technology Hardware, Storage & Peripherals								1,969,285

		Trading Companies & Distributors – 0.2%

	619	HD Supply, Inc., Term Loan B		3.750%		8/13/21		BB		615,986

		Wireless Telecommunication Services – 0.6%

	449	T-Mobile USA, Term Loan B		3.500%		11/09/22		BBB–		451,182


	8			Nuveen Investments


Principal Amount (000)			Description (1)	Coupon (8)		Maturity (9)		Ratings (6)		Value

			Wireless Telecommunication Services (continued)

$	1,000		UPC Broadband Holding BV, Term Loan AH		3.344%		6/30/21		BB	$	992,188
	1,449		Total Wireless Telecommunication Services								1,443,370
$	84,262		Total Variable Rate Senior Loan Interests (cost $84,191,496)								81,486,665

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (6)		Value

			CORPORATE BONDS – 0.1% (0.0% of Total Investments)

			Media – 0.1%

$	132		Clear Channel Communications, Inc.		9.000%		12/15/19		Caa1	$	97,680

			Metals & Mining – 0.0%

	85		Southern Copper Corporation		6.750%		4/16/40		BBB+		82,609
$	217		Total Corporate Bonds (cost $204,887)								180,289

Principal Amount (000) (10)			Description (1)	Coupon		Maturity		Ratings (6)		Value

			EMERGING MARKET DEBT AND FOREIGN CORPORATE BONDS – 34.2% (23.7% of Total Investments)

			Angola – 0.1%

$	200		Republic of Angola, Reg S		9.500%		11/12/25		Ba2	$	182,971

			Argentina – 1.3%

	345		City of Buenos Aires, Argentina, 144A		8.950%		2/19/21		B		370,013
	160		Province of Buenos Aires, 144A		9.950%		6/09/21		B–		168,046
	210		Province of Buenos Aires, 144A		9.125%		3/16/24		B–		215,880
	300		Province of Buenos Aires, Reg S		10.875%		1/26/21		B–		324,750
	150		Province of Buenos Aires, Reg S		9.950%		6/09/21		B–		157,500
	885		Republic of Argentina		7.000%		4/17/17		N/R		921,284
	21		Republic of Argentina, (11)		8.280%		12/31/33		N/R		24,501
	217		Republic of Argentina		8.280%		12/31/33		N/R		224,705
	96	EUR	Republic of Argentina, (11)		7.820%		12/31/33		N/R		119,364
	200	EUR	Republic of Argentina		7.820%		12/31/33		N/R		251,215
	351		YPF Sociedad Anonima, 144A		8.750%		4/04/24		B		347,490
			Total Argentina								3,124,748

			Azerbaijan – 0.6%

	825		Azerbaijan Government International Bond, Reg S		4.750%		3/18/24		Ba1		789,579
	465		Azerbaijan State Oil Company, Reg S		5.450%		2/09/17		Ba1		472,224
	200		Southern Gas Corridor CJSC, 144A		6.875%		3/24/26		Ba1		200,190
			Total Azerbaijan								1,461,993

			Brazil – 1.3%

	575		Centrais Eletricas Brasileiras S.A, Reg S		5.750%		10/27/21		BB		483,000
	600		Federative Republic of Brazil		6.000%		1/17/17		BB+		618,300
	204		Federative Republic of Brazil		8.000%		1/15/18		BB+		216,711
	660		Federative Republic of Brazil		6.000%		4/07/26		Baa2		670,560
	220		Federative Republic of Brazil		8.250%		1/20/34		BB+		245,300
	560		Petrobras Global Finance BV		4.875%		3/17/20		BB+		466,032
	265		Petrobras International Finance Company		5.750%		1/20/20		BB+		228,298
	445		Petrobras International Finance Company		6.750%		1/27/41		BB+		317,063
			Total Brazil								3,245,264

			Bulgaria – 1.0%

	1,475	EUR	Republic of Bulgaria		2.950%		9/03/24		Baa2		1,751,879
	635		Republic of Bulgaria, Reg S		3.125%		3/26/35		Baa2		667,750
			Total Bulgaria								2,419,629


Nuveen Investments			9


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


Principal Amount (000) (10)			Description (1)	Coupon		Maturity		Ratings (6)		Value

			Cameroon – 0.2%

$	510		Republic of Cameroon, 144A		9.500%		11/19/25		B	$	479,400

			Chile – 0.5%

	655		Coporacion Nacional del Cobre de Chile, Reg S		3.875%		11/03/21		A+		670,420
	350		Coporacion Nacional del Cobre de Chile, Reg S		3.000%		7/17/22		A+		336,665
	225		Empresa Nacional del Petroleo, Reg S		6.250%		7/08/19		A		244,792
			Total Chile								1,251,877

			Colombia – 0.4%

	420,000	COP	Republic of Colombia		7.750%		4/14/21		BBB		139,191
	175,000	COP	Republic of Colombia		9.850%		6/28/27		BBB		67,497
	535		Republic of Colombia		10.375%		1/28/33		BBB		761,038
	15		Republic of Colombia		7.375%		9/18/37		BBB		17,738
			Total Colombia								985,464

			Cote d’Ivoire (Ivory Coast) – 0.9%

	950		Ivory Coast Republic, 144A		5.375%		7/23/24		Ba3		871,625
	255		Ivory Coast Republic, 144A		6.375%		3/03/28		Ba3		240,975
	565		Ivory Coast Republic, Reg S		5.375%		7/23/24		Ba3		519,827
	750		Ivory Coast Republic, Reg S		6.375%		3/03/28		Ba3		708,750
			Total Cote d’Ivoire (Ivory Coast)								2,341,177

			Croatia – 0.2%

	280		Republic of Croatia, 144A		6.250%		4/27/17		BB		290,808
	290		Republic of Croatia, Reg S		5.375%		11/29/19		BB		319,999
			Total Croatia								610,807

			Dominican Republic – 2.1%

	335		Dominican Republic, 144A		6.600%		1/28/24		BB–		355,938
	685		Dominican Republic, 144A		5.500%		1/27/25		BB–		685,000
	649		Dominican Republic, 144A		6.875%		1/29/26		BB–		689,563
	81		Dominican Republic, Reg S		9.040%		1/23/18		BB–		85,733
	1,807		Dominican Republic, Reg S		7.500%		5/06/21		BB–		1,973,243
	155		Dominican Republic, Reg S		6.600%		1/28/24		BB–		164,688
	165		Dominican Republic, Reg S		5.875%		4/18/24		BB–		169,125
	720		Dominican Republic, Reg S		5.500%		1/27/25		BB–		720,000
	390		Dominican Republic, Reg S		7.450%		4/30/44		BB–		409,500
			Total Dominican Republic								5,252,790

			El Salvador – 0.5%

	75		Republic of El Salvador, 144A		6.375%		1/18/27		Ba3		64,875
	165		Republic of El Salvador, Reg S		7.375%		12/01/19		Ba3		164,175
	646		Republic of El Salvador, Reg S		7.750%		1/24/23		Ba3		633,080
	80		Republic of El Salvador, Reg S		5.875%		1/30/25		Ba3		69,000
	200		Republic of El Salvador, Reg S		6.375%		1/18/27		Ba3		173,000
	45		Republic of El Salvador, Reg S		8.250%		4/10/32		Ba3		42,638
	75		Republic of El Salvador, Reg S		7.625%		9/21/34		Ba3		75,750
	53		Republic of El Salvador, Reg S		7.650%		6/15/35		Ba3		46,375
			Total El Salvador								1,268,893

			Gabon – 0.1%

	365		Republic of Gabon, Reg S		6.375%		12/12/24		B+		300,267

			Ghana – 0.3%

	765		Republic of Ghana, 144A		10.750%		10/14/30		BB–		746,602

			Hungary – 2.2%

	261		Republic of Hungary, Government Bond		6.250%		1/29/20		BB+		290,175
	1,952		Republic of Hungary, Government Bond		6.375%		3/29/21		BB+		2,217,588


	10			Nuveen Investments


Principal Amount (000) (10)			Description (1)	Coupon		Maturity		Ratings (6)		Value

			Hungary (continued)

$	1,902		Republic of Hungary, Government Bond		5.375%		2/21/23		BB+	$	2,107,830
	390		Republic of Hungary, Government Bond		5.750%		11/22/23		BB+		444,210
	236		Republic of Hungary, Government Bond		7.625%		3/29/41		BB+		334,176
			Total Hungary								5,393,979

			Iceland – 0.3%

	700		Republic of Iceland, Reg S		5.875%		5/11/22		BBB+		809,304

			Indonesia – 2.0%

	400		Majapahit Holdings BV, Reg S		8.000%		8/07/19		Baa3		456,520
	200		Pertamina Persero PT, Reg S		5.250%		5/23/21		Baa3		209,352
	200		Pertamina Persero PT, Reg S		6.000%		5/03/42		Baa3		182,563
	330		Perusahaan Listrik Negaraa PT, Reg S		5.250%		10/24/42		Baa3		297,000
	885		Republic of Indonesia, Reg S		5.875%		1/15/24		Baa3		993,862
	1,020		Republic of Indonesia, Reg S		8.500%		10/12/35		Baa3		1,381,148
	1,134		Republic of Indonesia, Reg S		7.750%		1/17/38		Baa3		1,458,519
			Total Indonesia								4,978,964

			Ireland – 0.1%

	200		RZD Capital Limited, Russian Railways, Reg S		5.700%		4/05/22		BBB–		203,022

			Israel – 0.1%

	350		Israel Electric Corporation Limited, 144A, Reg S		5.000%		11/12/24		BBB–		371,175

			Jamaica – 0.2%

	200		Jamaica Government		7.625%		7/09/25		B		221,500
	200		Jamaica Government		7.875%		7/28/45		B		203,000
			Total Jamaica								424,500

			Kazakhstan – 0.4%

	220		KazAgro National Management Holding JSC, 144A		4.625%		5/24/23		BBB		182,600
	330		Kazakhstan Development Bank, Reg S		6.500%		6/03/20		BBB		338,220
	375		Kazakhstan Temir Zholy JSC, Reg S		7.000%		5/13/16		BBB		375,912
			Total Kazakhstan								896,732

			Kenya – 0.1%

	265		Republic of Kenya, Reg S		5.875%		6/24/19		B+		261,502

			Lithuania – 1.5%

	175		Republic of Lithuania, 144A		7.375%		2/11/20		A–		207,288
	145		Republic of Lithuania, 144A		6.125%		3/09/21		A–		168,124
	670		Republic of Lithuania, 144A		6.625%		2/01/22		A–		809,268
	805		Republic of Lithuania, Reg S		7.375%		2/11/20		A–		959,286
	1,460		Republic of Lithuania, Reg S		6.125%		3/09/21		A–		1,703,610
			Total Lithuania								3,847,576

			Luxembourg – 0.1%

	195		Gaz Capital SA, Reg S		9.250%		4/23/19		BBB–		221,130

			Mexico – 3.4%

	288		Coca-Cola Femsa, S.A.B. de C.V. (Femsa)		3.875%		11/26/23		A2		298,479
	200		Comision Federal de Electricidad of the United States of Mexico, Reg S		4.875%		1/15/24		BBB+		205,500
	220		Grupo Bimbo SAB de CV, Reg S		4.500%		1/25/22		Baa2		233,325
	660		Grupo Bimbo SAB de CV, Reg S		4.875%		6/27/44		BBB		609,089
	245		Grupo Televisa SAB		5.000%		5/13/45		BBB+		223,559
	640		Grupo Televisa SAB		6.125%		1/31/46		BBB+		678,400
	1,561	MXN	Mexican Udibonds Bonds		4.500%		12/04/25		A		103,253
	1,020	MXN	Mexican Udibonds Bonds		4.500%		11/22/35		A		67,659
	275		Mexichem SAB de CV, Reg S		5.875%		9/17/44		BBB		246,469


Nuveen Investments			11


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


Principal Amount (000) (10)			Description (1)	Coupon		Maturity		Ratings (6)		Value

			Mexico (continued)

	9,111	MXN	Mexico Bonos de DeSarrollo		10.000%		12/05/24		A	$	695,797
$	2,255		Petroleos Mexicanos		5.500%		6/27/44		BBB+		1,876,440
	300		Petroleos Mexicanos, 144A		6.875%		8/04/26		BBB+		324,750
	170	EUR	United Mexican States		4.000%		10/15/30		A3		168,246
	700	EUR	United Mexican States		3.000%		3/06/45		A3		710,150
	1,910		United Mexican States		5.750%		10/12/00		A3		1,933,874
			Total Mexico								8,374,990

			Mongolia – 0.1%

	325		Mongolia Government International Bond, 144A, (WI/DD)		10.875%		4/06/21		B		324,594

			Morocco – 1.0%

	215		Kingdom of Morocco, 144A		4.250%		12/11/22		BBB–		219,515
	875		Kingdom of Morocco, Reg S		4.250%		12/11/22		BBB–		901,013
	560		Office Cherifien Des Phosphates SA, Reg S		5.625%		4/25/24		BBB–		582,000
	295		Office Cherifien Des Phosphates SA, Reg S		4.500%		10/22/25		BBB–		282,795
	440		Office Cherifien Des Phosphates SA, Reg S		6.875%		4/25/44		BBB–		456,031
			Total Morocco								2,441,354

			Netherlands – 0.1%

	195		Majapahit Holdings BV, Reg S		7.875%		6/28/37		Baa3		229,254

			Pakistan – 0.2%

	275		Islamic Republic of Pakistan, 144A		7.250%		4/15/19		B		289,183
	250		Islamic Republic of Pakistan, 144A		8.250%		4/15/24		B		265,527
			Total Pakistan								554,710

			Panama – 0.6%

	285		Republic of Panama		3.875%		3/17/28		Baa2		287,850
	805		Republic of Panama		9.375%		4/01/29		BBB		1,199,450
			Total Panama								1,487,300

			Peru – 0.7%

	645		Republic of Peru		7.125%		3/30/19		A3		740,783
	1,195	PEN	Republic of Peru		6.950%		8/12/31		A–		351,625
	398		Republic of Peru		8.750%		11/21/33		A3		588,045
	100		Republic of Peru		5.625%		11/18/50		A3		112,546
			Total Peru								1,792,999

			Poland – 0.3%

	185		Republic of Poland		6.375%		7/15/19		A2		210,323
	95		Republic of Poland		5.000%		3/23/22		A2		106,063
	335		Republic of Poland, (WI/DD)		3.250%		4/06/26		A2		334,498
			Total Poland								650,884

			Romania – 1.3%

	390		Republic of Romania, 144A		6.750%		2/07/22		BBB–		461,955
	400	EUR	Republic of Romania, 144A		3.875%		10/29/35		BBB–		473,169
	742		Republic of Romania, Reg S		6.750%		2/07/22		BBB–		878,899
	198		Republic of Romania, Reg S		4.375%		8/22/23		BBB–		210,516
	210	EUR	Republic of Romania, Reg S		3.625%		4/24/24		BBB–		264,486
	135	EUR	Republic of Romania, Reg S		2.750%		10/29/25		BBB–		158,045
	770	EUR	Republic of Romania, Reg S		3.875%		10/29/35		BBB–		910,850
			Total Romania								3,357,920

			Russia – 1.6%

	235		Gazprom Neft OAO Via GPN Capital SA, Reg S		6.000%		11/27/23		BBB–		232,110
	575		Rosneft International Finance, Reg S		4.199%		3/06/22		BB+		535,551
	800		Russian Federation, Reg S		5.000%		4/29/20		BBB–		845,250


	12			Nuveen Investments


Principal Amount (000) (10)			Description (1)	Coupon		Maturity		Ratings (6)		Value

			Russia (continued)

	600	EUR	Russian Federation, Reg S		3.625%		9/16/20		BBB–	$	701,962
$	200		Russian Federation, Reg S		4.875%		9/16/23		BBB–		209,232
	430		Russian Federation, Reg S		12.750%		6/24/28		BBB–		718,264
	600		Russian Federation, Reg S		5.875%		9/16/43		BBB–		622,984
			Total Russia								3,865,353

			Senegal – 0.1%

	200		Republic of Senegal, Reg S		8.750%		5/13/21		B+		216,639

			Serbia – 0.2%

	505		Republic of Serbia, Reg S		5.250%		11/21/17		BB–		522,008

			Slovenia – 2.2%

	1,810		Republic of Slovenia, 144A		5.850%		5/10/23		A–		2,086,840
	385		Republic of Slovenia, 144A		5.250%		2/18/24		A–		431,200
	540		Republic of Slovenia, Reg S		5.500%		10/26/22		A–		612,253
	1,965		Republic of Slovenia, Reg S		5.850%		5/10/23		A–		2,268,880
			Total Slovenia								5,399,173

			South Africa – 1.5%

	270		Eskom Holdings Limited, Reg S		6.750%		8/06/23		BB+		249,502
	425		Republic of South Africa		6.875%		5/27/19		Baa2		466,888
	635		Republic of South Africa		5.500%		3/09/20		Baa2		672,370
	555		Republic of South Africa		4.665%		1/17/24		Baa2		559,163
	1,525		Republic of South Africa		5.875%		9/16/25		Baa2		1,649,820
	100	EUR	Republic of South Africa		3.750%		7/24/26		Baa2		110,343
			Total South Africa								3,708,086

			Sri Lanka – 0.8%

	720		Republic of Sri Lanka, 144A		6.000%		1/14/19		B+		718,365
	505		Republic of Sri Lanka, 144A		6.850%		11/03/25		B+		481,381
	310		Republic of Sri Lanka, Reg S		6.250%		7/27/21		B+		302,368
	200		Republic of Sri Lanka, Reg S		5.875%		7/25/22		B+		188,408
	400		Republic of Sri Lanka, Reg S		6.850%		11/03/25		B+		381,292
			Total Sri Lanka								2,071,814

			Tunisia – 0.1%

	425		Banque de Tunisie, Reg S		5.750%		1/30/25		Ba3		370,336

			Turkey – 0.9%

	221		Export Credit Bank of Turkey, 144A		5.375%		2/08/21		Baa3		224,868
	185		Republic of Turkey, Government Bond		6.750%		4/03/18		Baa3		199,121
	240		Republic of Turkey, Government Bond		5.625%		3/30/21		Baa3		258,937
	400		Republic of Turkey, Government Bond		5.125%		3/25/22		Baa3		420,476
	710		Republic of Turkey, Government Bond		6.250%		9/26/22		Baa3		789,520
	200		Republic of Turkey, Government Bond		5.750%		3/22/24		Baa3		216,920
	240		Republic of Turkey, Government Bond		4.875%		10/09/26		Baa3		242,958
			Total Turkey								2,352,800

			Ukraine – 0.9%

	4		Republic of Ukraine, 144A		7.750%		9/01/19		B–		3,678
	273		Republic of Ukraine, 144A		7.750%		9/01/20		B–		256,060
	242		Republic of Ukraine, 144A		7.750%		9/01/21		B–		224,029
	103		Republic of Ukraine, 144A		7.750%		9/01/22		B–		94,245
	103		Republic of Ukraine, 144A		7.750%		9/01/23		B–		93,174
	103		Republic of Ukraine, 144A		7.750%		9/01/24		B–		92,077
	103		Republic of Ukraine, 144A		7.750%		9/01/25		B–		91,304
	200		Republic of Ukraine, 144A		7.750%		9/01/27		B–		176,510
	228		Republic of Ukraine, 144A		0.000%		5/31/40		B–		74,529
	325		Republic of Ukraine, Reg S		7.750%		9/01/19		B–		307,419


Nuveen Investments			13


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


Principal Amount (000) (10)		Description (1)	Coupon		Maturity		Ratings (6)		Value

		Ukraine (continued)

$	105	Republic of Ukraine, Reg S		7.750%		9/01/23		B–	$	95,123
	215	Republic of Ukraine, Reg S		7.750%		9/01/26		B–		190,887
	550	State Savings Bank of Ukraine, Reg S		9.625%		3/20/25		CCC		467,712
	235	The State Export-Import Bank of the Ukraine, Loan Participations, Series 2010, Reg S		9.750%		1/22/25		CCC		197,428
		Total Ukraine								2,364,175

		Uruguay – 1.0%

	860	Republic of Uruguay		8.000%		11/18/22		BBB		1,071,774
	120	Republic of Uruguay		7.625%		3/21/36		BBB		153,000
	1,251	Republic of Uruguay		5.100%		6/18/50		BBB		1,163,430
		Total Uruguay								2,388,204

		Venezuela – 0.6%

	50	Petroleos de Venezuela S.A, Reg S		5.250%		4/12/17		CCC		25,400
	43	Petroleos de Venezuela S.A, Reg S		8.500%		11/02/17		CCC		22,919
	365	Petroleos de Venezuela S.A, Reg S		6.000%		5/16/24		CCC		112,694
	2,562	Petroleos de Venezuela S.A, Reg S		6.000%		11/15/26		CCC		790,300
	305	Republic of Venezuela, Reg S		9.000%		5/07/23		CCC		106,750
	500	Republic of Venezuela, Reg S		8.250%		10/13/24		CCC		170,000
	710	Republic of Venezuela, Reg S		9.250%		5/07/28		CCC		250,275
		Total Venezuela								1,478,338

		Vietnam – 0.1%

	255	Socialist Republic of Vietnam, Reg S		4.800%		11/19/24		BB–		255,622
		Total Emerging Market Debt and Foreign Corporate Bonds (cost $84,150,668)								85,286,319
		Total Long-Term Investments (cost $307,562,988)								346,608,402

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

		SHORT-TERM INVESTMENTS – 5.1% (3.6% of Total Investments)

		REPURCHASE AGREEMENTS – 5.1% (3.6% of Total Investments)

$	1,769	Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/16, repurchase price $1,768,978, collateralized by $1,765,000 U.S. Treasury Notes, 1.875%, due 8/31/22, value $1,804,713		0.030%		4/01/16			$	1,768,977
	8,791	Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/16, repurchase price $8,790,775, collateralized by $8,850,000 U.S. Treasury Notes, 2.000%, due 8/15/25, value $8,971,688		0.030%		4/01/16				8,790,768
	2,211	Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/16, repurchase price $2,211,200, collateralized by $2,150,000 U.S. Treasury Bonds, 2.875%, due 8/15/45, value $2,260,188		0.030%		4/01/16				2,211,198
$	12,771	Total Short-Term Investments (cost $12,770,943)								12,770,943
		Total Investments (cost $320,333,931) – 144.2%								359,379,345
		Borrowings – (40.9)% (12), (13)								(102,000,000	)
		Other Assets Less Liabilities – (3.3)% (14)								(8,147,581	)
		Net Assets Applicable to Common Shares – 100%							$	249,231,764


	14			Nuveen Investments

Investments in Derivatives as of March 31, 2016

Options Written outstanding:


Number of Contracts			Description	Notional Amount (15)			Expiration Date		Strike Price		Value
	(104	)	Avery Dennison Corporation	$	(728,000	)		4/15/16	$	70.0	$	(26,260	)
	(138	)	Teva Pharmaceutical Industries Limited		(793,500	)		4/15/16		57.5		(1,311	)
	(242	)	Total Options Written (premiums received $26,490)	$	(1,521,500	)					$	(27,571	)

Forward Foreign Currency Exchange Contracts outstanding:


Counterparty	Currency Contracts to Deliver	Notional Amount (Local Currency)		In Exchange For Currency		Notional Amount (Local Currency)		Settlement Date		Unrealized Appreciation (Depreciation)
Credit Agricole CIB	Euro		5,353,000		U.S. Dollar		6,010,670		6/15/16	$	(93,876	)
Credit Agricole CIB	Peruvian Sol		310,000		U.S. Dollar		89,004		6/15/16		(3,650	)
Deutsche Bank AG	Euro		35,000		U.S. Dollar		38,914		6/15/16		(1,000	)
JPMorgan Chase Bank, N.A.	Peruvian Sol		778,000		U.S. Dollar		223,788		6/15/16		(8,744	)
JPMorgan Chase Bank, N.A.	U.S. Dollar		409,611		Mexican Peso		7,160,000		6/15/16		2,154
Morgan Stanley & Co. LLC	Euro		45,000		U.S. Dollar		50,354		6/15/16		(964	)
Morgan Stanley & Co. LLC	Euro		111,000		U.S. Dollar		125,610		6/15/16		(974	)
State Street Bank and Trust Company	Colombian Peso		555,117,000		U.S. Dollar		172,611		6/15/16		(11,052	)
State Street Bank and Trust Company	U.S. Dollar		53,383		Mexican Peso		957,000		6/15/16		1,653
										$	(116,453	)

Futures Contracts outstanding:


Description	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value			Variation Margin Receivable/ (Payable)			Unrealized Appreciation (Depreciation)
Eurex Euro-Bobl		Short		(3	)		6/16	$	(393,300	)	$	37		$	782
Eurex Euro-Bund		Short		(10	)		6/16		(1,633,200	)		(715	)		(9,067	)
Eurex Euro-Buxl		Short		(12	)		6/16		(2,022,480	)		(5,712	)		(69,994	)
				(25	)			$	(4,048,980	)	$	(6,390	)	$	(78,279	)

Interest Rate Swaps outstanding:


Counterparty	Notional Amount		Fund Pay/Receive Floating Rate		Floating Rate Index		Fixed Rate (Annualized)			Fixed Rate Payment Frequency		Effective Date (16)		Termination Date		Unrealized Appreciation (Depreciation)
JPMorgan Chase Bank, N.A.	$	30,450,000		Receive		1-Month USD-LIBOR-ICE		1.462	%		Monthly		6/01/16		12/01/20	$	(996,699	)
JPMorgan Chase Bank, N.A.		30,450,000		Receive		1-Month USD-LIBOR-ICE		1.842			Monthly		6/01/16		12/01/22		(1,735,688	)
	$	60,900,000														$	(2,732,387	)

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.


Nuveen Investments			15


JDD	Nuveen Diversified Dividend and Income Fund
	Portfolio of Investments (continued)	March 31, 2016 (Unaudited)


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

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


	Level 1			Level 2			Level 3			Total
Long-Term Investments:
Common Stocks	$	63,704,772		$	11,941,092		$	—	*	$	75,645,864
Real Estate Investment Trust (REIT) Common Stocks		95,491,196			—			—			95,491,196
Convertible Preferred Securities		1,431,324			3,134,460			—			4,565,784
$25 Par (or similar) Retail Preferred		1,168,938			—			—			1,168,938
$1,000 Par (or similar) Institutional Preferred		—			2,783,347			—			2,783,347
Variable Rate Senior Loan Interests		—			81,486,665			—	*		81,486,665
Corporate Bonds		—			180,289			—			180,289
Emerging Market Debt and Foreign Corporate Bonds		—			85,286,319			—			85,286,319

Short-Term Investments:
Repurchase Agreements		—			12,770,943			—			12,770,943

Investments in Derivatives:
Options Written		(27,571	)		—			—			(27,571	)
Forward Foreign Currency Exchange Contracts*		—			(116,453	)		—			(116,453	)
Futures Contracts*		(78,279	)		—			—			(78,279	)
Interest Rate Swaps*		—			(2,732,387	)		—			(2,732,387	)
Total	$	161,690,380		$	194,734,275		$	—	*	$	356,424,655

*	Value equals zero as of the end of the reporting period.

**	Represents net unrealized appreciation (depreciation).

The table below presents the transfers in and out of the three valuation levels for the Fund as of the end of the reporting period when compared to the valuation levels as of 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	$	8,687,397	$	—	$	—	$	(8,687,397	)	$	—	$	—

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 recognition of premium amortization and timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

As of March 31, 2016, the cost and unrealized appreciation (depreciation) of investments (excluding investments in derivatives) was $324,386,651.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2016, were as follows:


Gross unrealized:
Appreciation	$	49,526,633
Depreciation		(14,533,939	)
Net unrealized appreciation (depreciation) of investments	$	34,992,694


	16			Nuveen Investments

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

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

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

(3)	For fair value measurement disclosure purposes, investment classified as Level 2.

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

(5)	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.

(6)

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.

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

(8)

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. The rate shown is the coupon as of the end of the reporting period.

(9)

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.

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

(11)

As of, or subsequent to, the end of the reporting period this security is non-income producing. Non-income producing security, 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 issuer is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.

(12)	Borrowings as a percentage of Total Investments is 28.4%.

(13)	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.

(14)	Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter derivatives as well as the exchange-cleared and exchange-traded derivatives, when applicable. Other assets less liabilities also includes the value of options.

(15)	For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100.

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

(DD1)

Portion of investment purchased on a delayed delivery basis.

(WI/DD)

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

N/A	Not applicable

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.

ADR	American Depositary Receipt

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.

TBD

Senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date.

COP	Colombian Peso

EUR

Euro

MXN	Mexican Peso

PEN	Peruvian Nuevo Sol

USD-LIBOR-ICE

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


Nuveen Investments			17

Item 2. Controls and Procedures.

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)).

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 Diversified Dividend and Income Fund

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

Date: May 27, 2016

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: May 27, 2016

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

Date: May 27, 2016