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)
Jessica R. DroegerVice 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: 12/31
Date of reporting period: 09/30/04
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (OMB) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
Portfolio of Investments (Unaudited)
Nuveen Diversified Dividend and Income Fund (JDD)
September 30, 2004
|
|||||||
---|---|---|---|---|---|---|---|
Shares |
Description(1) |
Value |
|||||
COMMON STOCKS - 34.0% (24.9% of Total Investments) |
|||||||
Aerospace & Defense - 1.9% |
|||||||
|
50,000 |
Lockheed Martin Corporation |
$ 2,789,000 |
||||
85,000 |
Raytheon Company |
3,228,300 |
|||||
6,017,300 |
|||||||
Auto Components - 0.7% |
|||||||
|
245,600 |
Delphi Automotive System Corporation |
2,281,624 |
||||
Chemicals - 0.6% |
|||||||
|
143,000 |
DSM NV |
1,873,300 |
||||
Commercial Banks - 0.9% |
|||||||
|
69,200 |
Bank of America Corporation |
2,998,436 |
||||
Commercial Services & Supplies - 0.9% |
|||||||
|
65,000 |
Pitney Bowes Inc. |
2,866,500 |
||||
Communications Equipment - 0.5% |
|||||||
|
90,000 |
KT Corporation |
1,626,300 |
||||
Containers & Packaging - 0.8% |
|||||||
|
106,300 |
Packaging Corporation of America |
2,601,161 |
||||
Diversified Financial Services - 1.8% |
|||||||
|
50,000 |
Citigroup Inc. |
2,206,000 |
||||
85,000 |
J.P. Morgan Chase & Co. |
3,377,050 |
|||||
5,583,050 |
|||||||
Diversified Telecommuncation Services - 3.6% |
|||||||
|
110,500 |
SBC Communications Inc. |
2,867,475 |
||||
135,000 |
Sprint Corporation |
2,717,550 |
|||||
52,500 |
Telecom Italia SpA, Sponsored ADR |
1,614,900 |
|||||
110,600 |
Verizon Communications Inc. |
4,355,428 |
|||||
11,555,353 |
|||||||
Electric Utilities - 1.6% |
|||||||
|
65,000 |
FirstEnergy Corporation |
2,670,200 |
||||
220,000 |
Korea Electric Power Corporation |
2,321,000 |
|||||
4,991,200 |
|||||||
Food & Staples Retailing - 1.4% |
|||||||
|
135,000 |
Albertson's, Inc. |
3,230,550 |
||||
60,812 |
J Sainsbury plc, Sponsored ADR |
1,143,266 |
|||||
4,373,816 |
|||||||
Food Products - 0.6% |
|||||||
|
67,000 |
Tate and Lyle plc |
1,879,350 |
||||
Household Durables - 0.5% |
|||||||
|
77,000 |
Newell Rubbermaid Inc. |
1,543,080 |
||||
Household Products - 1.0% |
|||||||
|
48,000 |
Kimberly-Clark Corporation |
3,100,320 |
||||
Insurance - 1.9% |
|||||||
|
145,000 |
Aon Corporation |
4,167,300 |
||||
30,000 |
Hartford Financial Services Group, Inc. |
1,857,900 |
|||||
6,025,200 |
|||||||
Metals & Mining - 1.7% |
|||||||
|
146,000 |
Alumina Limited |
2,388,560 |
||||
26,500 |
Rio Tinto plc, Sponsored ADR |
2,879,225 |
|||||
5,267,785 |
|||||||
Multiline Retail - 0.6% |
|||||||
|
73,400 |
May Department Stores Company |
1,881,242 |
||||
Oil & Gas - 5.7% |
|||||||
|
44,600 |
ChevronTexaco Corporation |
2,392,337 |
||||
37,800 |
ConocoPhillips |
3,131,730 |
|||||
23,000 |
Eni S.p.A., Sponsored ADR |
2,582,900 |
|||||
80,000 |
Kerr-McGee Corporation |
4,580,000 |
|||||
30,000 |
Total SA, Sponsored ADR |
3,065,100 |
|||||
49,500 |
Unocal Corporation |
2,128,500 |
|||||
17,880,567 |
|||||||
Paper & Forest Products - 1.5% |
|||||||
|
55,500 |
International Paper Company |
2,242,755 |
||||
40,000 |
Weyerhaeuser Company |
2,659,200 |
|||||
4,901,955 |
|||||||
Real Estate - 0.6% |
|||||||
|
200,000 |
MFA Mortgage Investments, Inc. |
1,842,000 |
||||
Thrifts & Mortgage Finance - 2.5% |
|||||||
|
71,600 |
Fannie Mae |
4,539,440 |
||||
94,100 |
IndyMac Bancorp, Inc. |
3,406,420 |
|||||
7,945,860 |
|||||||
Tobacco - 2.2% |
|||||||
|
88,200 |
Altria Group, Inc. |
4,148,928 |
||||
113,000 |
Loews Corporation - Carolina Group |
2,753,810 |
|||||
6,902,738 |
|||||||
Water Utilities - 0.5% |
|||||||
|
82,800 |
United Utilities plc, Sponsored ADR |
1,685,808 |
||||
Total Common Stocks (cost $92,636,141) |
107,623,945 |
||||||
CONVERTIBLE PREFERRED STOCK - 0.9% (0.6% of Total Investments) |
|||||||
Specialty Retail - 0.9% |
|||||||
|
57,000 |
Toys "R" Us, Inc. |
2,739,420 |
||||
Total Convertible Preferred Stock (cost $2,002,026) |
2,739,420 |
||||||
REAL ESTATE INVESTMENT TRUST COMMON STOCKS - 31.1% (22.7% of Total Investments) |
|||||||
Apartments - 8.6% |
|||||||
|
242,800 |
AMLI Residential Properties Trust |
7,417,540 |
||||
114,900 |
Archstone-Smith Trust |
3,635,436 |
|||||
57,500 |
AvalonBay Communities, Inc. |
3,462,650 |
|||||
74,500 |
Camden Property Trust |
3,441,900 |
|||||
129,600 |
Gables Residential Trust |
4,425,840 |
|||||
164,400 |
Post Properties, Inc. |
4,915,560 |
|||||
27,298,926 |
|||||||
Diversified - 0.7% |
|||||||
|
36,300 |
Vornado Realty Trust |
2,275,284 |
||||
Healthcare - 3.7% |
|||||||
|
310,900 |
Nationwide Health Properties, Inc. |
6,451,175 |
||||
293,800 |
Senior Housing Properties Trust |
5,235,516 |
|||||
11,686,691 |
|||||||
Hotels - 1.0% |
|||||||
|
338,736 |
Hersha Hospitality Trust |
3,184,118 |
||||
Industrial - 0.6% |
|||||||
|
50,000 |
First Industrial Realty Trust, Inc. |
1,845,000 |
||||
Office Property - 10.8% |
|||||||
|
180,300 |
Arden Realty, Inc. |
5,874,174 |
||||
159,000 |
Brandywine Realty Trust |
4,528,320 |
|||||
140,700 |
CRT Properties Inc. |
3,018,015 |
|||||
594,600 |
HRPT Properties Trust |
6,534,654 |
|||||
81,400 |
Highwoods Properties, Inc. |
2,003,254 |
|||||
158,900 |
Mack-Cali Realty Corporation |
7,039,270 |
|||||
104,500 |
Maguire Properties, Inc. |
2,540,395 |
|||||
95,900 |
Reckson Associates Realty Corporation |
2,757,125 |
|||||
34,295,207 |
|||||||
Regional Malls - 1.4% |
|||||||
|
49,900 |
The Macerich Company |
2,659,171 |
||||
32,400 |
Simon Property Group, Inc. |
1,737,612 |
|||||
4,396,783 |
|||||||
Shopping Center - 3.3% |
|||||||
|
183,900 |
Cedar Shopping Centers Inc. |
2,565,405 |
||||
73,500 |
Federal Realty Investment Trust |
3,234,000 |
|||||
160,000 |
Kite Realty Group Trust |
2,104,000 |
|||||
107,100 |
New Plan Excel Realty Trust |
2,677,500 |
|||||
10,580,905 |
|||||||
Storage - 1.0% |
|||||||
|
77,700 |
Shurgard Storage Centers, Inc., Class A |
3,014,760 |
||||
Total Real Estate Investment Trust Common Stocks (cost $85,402,889) |
98,577,674 |
||||||
REAL ESTATE INVESTMENT TRUST PREFERRED SECURITIES - 4.2% (3.1% of Total Investments) |
|||||||
Apartments - 2.4% |
|||||||
|
48,000 |
Apartment Investment & Management Company, Series Q, 10.100% |
1,272,000 |
||||
103,000 |
Apartment Investment & Management Company, Series R, 10.000% |
2,747,010 |
|||||
150,000 |
Apartment Investment & Management Company, Series U, 7.750% |
3,631,500 |
|||||
7,650,510 |
|||||||
Diversified - 0.7% |
|||||||
|
103,800 |
Crescent Real Estate Equities Company, Series A, 6.750% |
2,201,598 |
||||
Office Property - 0.8% |
|||||||
|
35,000 |
Brandywine Realty Trust, Series D, 7.375% |
881,125 |
||||
64,000 |
Maguire Properties, Inc., Series A, 7.625% |
1,593,600 |
|||||
2,474,725 |
|||||||
Shopping Center - 0.3% |
|||||||
|
40,000 |
Cedar Shopping Centers Inc., 8.875% |
1,055,000 |
||||
Total Real Estate Investment Trust Preferred Securities (cost $13,378,998) |
13,381,833 |
||||||
Ratings** |
|||||||
Principal |
Stated |
||||||
Amount (000) |
Description(1) |
Maturity* |
Moody's |
S&P |
Value |
||
VARIABLE RATE SENIOR LOAN INTERESTS(2) - 25.9% (18.9% of Total Investments) |
|||||||
Aerospace & Defense - 1.2% |
|||||||
$ |
351 |
Vought Aircraft Industries, Inc., Term Loan B |
6/30/07 |
Ba3 |
B+ |
$ 355,071 |
|
1,113 |
Vought Aircraft Industries, Inc., Term Loan C |
6/30/08 |
Ba3 |
B+ |
1,125,426 |
||
2,373 |
Vought Aircraft Industries, Inc., Term Loan X |
12/31/06 |
Ba3 |
B+ |
2,394,151 |
||
3,874,648 |
|||||||
Auto Components - 3.9% |
|||||||
|
2,500 |
Federal-Mogul Corporation, Term Loan A (a) |
2/24/24 |
NR |
NR |
2,307,813 |
|
2,863 |
HLI Operating Company, Inc., Term Loan B |
6/03/09 |
Ba3 |
BB- |
2,922,390 |
||
1,995 |
Mark IV Industries, Inc., Term Loan B |
6/23/11 |
B1 |
BB- |
2,028,042 |
||
1,493 |
Meridian Automotive Systems, First Lien Term Loan |
8/28/10 |
B2 |
B+ |
1,422,850 |
||
1,762 |
Metaldyne Company LLC, Term Loan D |
12/31/09 |
B2 |
BB- |
1,761,812 |
||
1,369 |
Tenneco Automotive, Inc., Term Loan B |
12/12/10 |
B1 |
B+ |
1,386,648 |
||
621 |
Tenneco Automotive, Inc., Term Loan B-1 |
12/12/10 |
B1 |
B+ |
628,707 |
||
12,458,262 |
|||||||
Building Products - 0.6% |
|||||||
|
2,000 |
Nortek Inc., Term Loan B |
8/27/11 |
B1 |
B+ |
2,025,834 |
|
Commercial Services & Supplies - 0.9% |
|||||||
|
2,914 |
Allied Waste North America, Inc., Term Loan B |
1/15/10 |
Ba2 |
BB |
2,961,847 |
|
Containers & Packaging - 2.5% |
|||||||
|
1,986 |
Graham Packaging Company L.P., Term Loan B |
2/14/10 |
B2 |
CCC+ |
2,000,008 |
|
2,000 |
Owens-Illinois Group, Inc., Term Loan C |
4/01/08 |
B1 |
BB- |
2,003,333 |
||
218 |
Stone Container Corporation, Term Loan C |
6/30/09 |
NR |
NR |
219,971 |
||
1,662 |
Stone Container Corporation, Term Loan B |
6/30/09 |
NR |
NR |
1,673,602 |
||
1,990 |
United States Can Company, Term Loan B |
1/15/10 |
B2 |
B |
1,985,025 |
||
7,881,939 |
|||||||
Diversified Conglomerate Manufacturing - 1.2% |
|||||||
|
1,909 |
EaglePicher Incorporated, Term Loan B |
8/07/09 |
B2 |
B+ |
1,926,935 |
|
1,883 |
Amsted Industries Incorporated, Term Loan B |
10/15/10 |
B1 |
BB- |
1,906,780 |
||
3,833,715 |
|||||||
Electrical Utilities - 0.6% |
|||||||
|
1,713 |
Sensus Metering Systems Inc., Term Loan B-1 |
12/17/10 |
B2 |
B+ |
1,734,457 |
|
257 |
Sensus Metering Systems Inc., Term Loan B-2 |
12/17/10 |
B2 |
B+ |
260,168 |
||
1,994,625 |
|||||||
Food & Staples Retailing - 0.4% |
|||||||
|
1,218 |
Alimentation Couche-Tard Inc., Term Loan |
12/17/10 |
Ba2 |
BB |
1,230,298 |
|
Food Products - 1.0% |
|||||||
|
2,978 |
Michael Foods, Inc., Term Loan B |
11/20/10 |
B1 |
B+ |
3,012,858 |
|
Healthcare Equipment & Supplies - 1.1% |
|||||||
|
1,980 |
Beverly Enterprises, Inc., Term Loan B |
10/22/08 |
Ba3 |
BB |
2,011,349 |
|
1,536 |
Kinetic Concepts, Inc., Term Loan B-1 |
8/11/10 |
B1 |
BB- |
1,554,060 |
||
3,565,409 |
|||||||
Healthcare Providers - 0.9% |
|||||||
|
2,936 |
Triad Hospitals, Inc., Term Loan B |
9/30/08 |
Ba2 |
BB |
2,980,349 |
|
Hotels Restaurants & Leisure - 4.2% |
|||||||
|
3,970 |
24 Hour Fitness Worldwide, Inc., Term Loan B |
7/01/09 |
B1 |
B |
4,022,106 |
|
2,638 |
Alliance Gaming Corporation, Term Loan B |
9/05/09 |
Ba3 |
BB- |
2,673,196 |
||
2,591 |
Venetian Casino Resort, Term Loan B |
6/15/11 |
B1 |
B+ |
2,631,392 |
||
2,000 |
Metro-Goldwyn-Mayer Studios, Inc., Term Loan B |
4/26/11 |
NR |
NR |
2,008,000 |
||
1,702 |
Wyndham International, Inc., Term Loan II |
4/01/06 |
NR |
NR |
1,699,683 |
||
13,034,377 |
|||||||
Insurance - 0.6% |
|||||||
|
2,000 |
Conseco, Inc., Term Loan |
6/22/10 |
B2 |
BB- |
2,035,417 |
|
Media - 5.1% |
|||||||
|
1,995 |
Charter Communications Operating, LLC, Term Loan B |
4/07/11 |
B2 |
B |
1,981,477 |
|
1,724 |
Dex Media West, LLC, Term Loan B |
3/09/10 |
Ba2 |
BB- |
1,748,478 |
||
2,000 |
Emmis Operating Company, Term Loan |
11/10/11 |
Ba2 |
B+ |
2,018,611 |
||
2,000 |
Loews Cineplex Corporation, Term Loan B |
6/30/11 |
B1 |
B |
2,021,965 |
||
2,000 |
Rainbow Media Holdings LLC, Term Loan |
3/31/12 |
Ba2 |
BB+ |
2,028,250 |
||
1,930 |
Regal Cinemas Corporation, Term Loan |
11/10/10 |
Ba3 |
BB- |
1,953,665 |
||
2,000 |
R.H. Donnelly Inc., Term Loan |
6/30/11 |
Ba3 |
BB |
2,028,021 |
||
1,990 |
WMG Acquisition Corp., Term Loan |
2/27/11 |
B1 |
B+ |
2,020,027 |
||
15,800,494 |
|||||||
Road & Rail - 0.9% |
|||||||
|
2,878 |
Laidlaw Inc., Term Loan B-1 |
6/19/09 |
Ba3 |
BB+ |
2,925,661 |
|
Wireless Telecommunication Services - 0.8% |
|||||||
|
2,481 |
Nextel Finance Company, Term Loan E |
12/15/10 |
Ba1 |
BBB |
2,496,260 |
|
Total Variable Rate Senior Loan Interests (cost $81,747,614) |
82,111,993 |
||||||
EMERGING MARKET SOVEREIGN DEBT - 31.8% (23.2% of Total Investments) |
|||||||
Argentina - 0.4% |
|||||||
|
1,855 |
Argentina Republic, 1.980% |
8/03/12 |
Caa1 |
CCC |
1,384,164 |
|
Brazil - 1.7% |
|||||||
|
500 |
Braskem SA, 11.750% |
1/22/14 |
NR |
BB- |
540,000 |
|
824 |
Brazil Republic, 2.125% |
4/15/09 |
B1 |
BB- |
808,645 |
||
600 |
Brazil Republic, 12.000% |
4/15/10 |
B1 |
BB- |
717,900 |
||
2,052 |
Brazil Republic, 8.000% |
4/15/14 |
B1 |
BB- |
2,042,728 |
||
1,055 |
Brazil Republic, 10.500% |
7/14/14 |
B1 |
BB- |
1,177,380 |
||
5,286,653 |
|||||||
Bulgaria - 1.1% |
|||||||
|
2,133 |
Bulgaria Republic, 2.750% |
7/28/12 |
Ba2 |
BBB- |
2,130,127 |
|
1,100 |
Bulgaria Republic, 8.250% |
1/15/15 |
Ba2 |
BBB- |
1,358,335 |
||
3,488,462 |
|||||||
Cayman Islands - 0.1% |
|||||||
|
270 |
CSN Islands IX Corporation 144A, 10.000% |
1/15/15 |
B1 |
B+ |
271,350 |
|
Chile - 0.9% |
|||||||
|
550 |
Chile Republic, 6.875% |
4/28/09 |
Baa1 |
A |
617,375 |
|
430 |
Codelco Inc., 144A, 5.500% |
10/15/13 |
A2 |
A |
448,666 |
||
600 |
Codelco Inc., Reg S, 6.375% |
11/30/12 |
A2 |
A |
672,114 |
||
1,100 |
Empresa Nacional del Petroleo 144A, 4.875% |
3/15/14 |
Baa1 |
A |
1,086,542 |
||
2,824,697 |
|||||||
Columbia - 1.4% |
|||||||
|
1,450 |
Columbia Republic, 9.750% |
4/23/09 |
Ba2 |
BB |
1,643,575 |
|
396 |
Columbia Republic, 9.750% |
4/09/11 |
Ba2 |
BB+ |
449,582 |
||
500 |
Columbia Republic, 10.000% |
1/23/12 |
Ba2 |
BB |
556,500 |
||
450 |
Columbia Republic, 10.750% |
1/15/13 |
Ba2 |
BB |
517,950 |
||
575 |
Columbia Republic, 8.250% |
12/22/14 |
Ba2 |
BB |
570,688 |
||
600 |
Columbia Republic, 11.750% |
2/25/20 |
Ba2 |
BB |
736,500 |
||
4,474,795 |
|||||||
Ecuador - 1.1% |
|||||||
|
4,450 |
Ecuador Republic, Reg S, 8.000% |
8/15/30 |
Caa1 |
CCC+ |
3,621,188 |
|
El Salvador - 1.2% |
|||||||
|
2,440 |
El Salvador Republic, 8.500% |
7/25/11 |
Baa3 |
BB+ |
2,747,159 |
|
1,080 |
El Salvador Republic, 7.750% |
1/24/23 |
Baa3 |
BB+ |
1,166,816 |
||
3,913,975 |
|||||||
Guatemala - 0.5% |
|||||||
|
490 |
Guatemala Government, Reg S, 9.250% |
8/01/13 |
Ba2 |
BB- |
552,190 |
|
880 |
Republic of Guatemala, 144A, 8.125% (DD, settling 10/06/04) |
10/06/34 |
Ba2 |
BB- |
899,800 |
||
1,451,990 |
|||||||
Hong Kong - 0.3% |
|||||||
|
890 |
Hong Kong, 144A, 5.125% |
8/01/14 |
A1 |
A+ |
918,081 |
|
Indonesia - 0.9% |
|||||||
|
3,000 |
Republic of Indonesia, 144A, 6.750% |
3/10/14 |
B2 |
B |
2,917,500 |
|
Malaysia - 1.6% |
|||||||
|
600 |
Malaysia Republic, 8.750% |
6/01/09 |
Baa1 |
A- |
719,550 |
|
500 |
Malaysia Republic, 7.500% |
7/15/11 |
Baa1 |
A- |
586,775 |
||
600 |
Petronas Capital Ltd., Reg S, 7.000% |
5/22/12 |
Baa1 |
A- |
686,680 |
||
2,700 |
Petronas Capital Limited, 7.000% |
5/22/12 |
Baa1 |
A- |
3,090,061 |
||
5,083,066 |
|||||||
Mexico - 2.6% |
|||||||
|
700 |
Conproca SA, Reg S, 12.000% |
12/16/10 |
Baa3 |
BBB- |
892,860 |
|
1,000 |
Pemex Project F, Reg S, 7.375% |
12/15/14 |
Baa1 |
BBB- |
1,092,500 |
||
1,200 |
Pemex Project Funding Master Trust, 8.500% |
2/15/08 |
Baa1 |
BBB- |
1,351,500 |
||
1,400 |
Petroleos Mexicanos, 9.500% |
9/15/27 |
Baa1 |
BBB- |
1,711,500 |
||
2,420 |
United Mexican States, 6.625% |
3/03/15 |
Baa2 |
BBB- |
2,571,250 |
||
520 |
United Mexican States, 8.125% |
12/30/19 |
Baa2 |
BBB- |
598,000 |
||
8,217,610 |
|||||||
Panama - 2.0% |
|||||||
|
650 |
Panama Republic, 9.625% |
2/08/11 |
Ba1 |
BB |
749,125 |
|
1,260 |
Panama Republic, 9.375% |
1/16/23 |
Ba1 |
BB |
1,379,700 |
||
3,850 |
Panama Republic, 9.375% |
4/01/29 |
Ba1 |
BB |
4,331,250 |
||
6,460,075 |
|||||||
Peru - 1.9% |
|||||||
|
1,300 |
Peru Republic, 9.125% |
2/21/12 |
Ba3 |
BB |
1,462,500 |
|
450 |
Peru Republic, 9.875% |
2/06/15 |
Ba3 |
BB |
519,750 |
||
800 |
Peru Republic, 8.375% |
5/03/16 |
Ba3 |
BB |
836,000 |
||
528 |
Peru Republic, 5.000% |
3/07/17 |
Ba3 |
BB |
490,090 |
||
1,950 |
Peru Republic, 4.500% |
3/07/17 |
Ba3 |
BB |
1,746,161 |
||
950 |
Peru Republic, 8.750% |
11/21/33 |
Ba3 |
BB |
947,625 |
||
6,002,126 |
|||||||
Philippines - 0.8% |
|||||||
|
1,143 |
Philippines Republic, 8.375% |
2/15/11 |
Ba2 |
BB |
1,163,003 |
|
1,000 |
Philippines Republic, 9.375% |
1/18/17 |
Ba2 |
BB |
1,056,250 |
||
300 |
Philippines Republic, 10.625% |
3/16/25 |
Ba2 |
BB |
321,750 |
||
2,541,003 |
|||||||
Poland - 0.2% |
|||||||
|
500 |
Poland Republic, 5.250% |
1/15/14 |
A2 |
BBB+ |
518,250 |
|
Qatar - 0.1% |
|||||||
|
458 |
Ras Laffan Liquefied Natural Gas Company Limited, 144A, 3.437% |
9/15/09 |
Baa1 |
A- |
453,913 |
|
Russia - 2.8% |
|||||||
|
500 |
Aries, 144A, 9.600% |
10/25/14 |
Ba2 |
BB+ |
563,750 |
|
500 |
Russia Federation, 8.750% |
7/24/05 |
Baa3 |
BB+ |
521,955 |
||
1,800 |
Russia Federation, 8.250% |
3/31/10 |
Baa3 |
BB+ |
1,961,840 |
||
750 |
Russia Federation, 11.000% |
7/24/18 |
Baa3 |
BB+ |
980,744 |
||
1,625 |
Russia Federation, 5.000% |
3/31/30 |
Baa3 |
BB+ |
1,567,150 |
||
3,200 |
Russia Ministry of Finance, 3.000% |
5/14/08 |
Ba2 |
BB+ |
2,900,746 |
||
600 |
Russia Ministry of Finance, 3.000% |
5/14/11 |
Ba2 |
BB+ |
476,840 |
||
8,973,025 |
|||||||
South Africa - 2.1% |
|||||||
|
4,950 |
South Africa Republic, 9.125% |
5/19/09 |
Baa2 |
BBB |
5,878,125 |
|
730 |
South Africa Republic, 6.500% |
6/02/14 |
Baa2 |
BBB |
781,100 |
||
6,659,225 |
|||||||
South Korea - 0.7% |
|||||||
|
1,000 |
Export-Import Bank of Korea, 4.250% |
11/27/07 |
A3 |
A- |
1,014,121 |
|
435 |
Export-Import Bank of Korea, 4.500% |
8/12/09 |
A3 |
A- |
440,845 |
||
165 |
Export-Import Bank of Korea, 144A, 4.125% |
2/10/09 |
A3 |
A- |
165,155 |
||
500 |
LG Caltex Oil Corproation, 144A, 5.500% |
8/25/14 |
Baa2 |
BBB |
511,104 |
||
2,131,225 |
|||||||
Thailand - 0.1% |
|||||||
|
290 |
PTT Public Company Limited, 144A, 5.750% |
8/01/14 |
Baa1 |
BBB+ |
301,241 |
|
Tunisia - 0.6% |
|||||||
|
1,700 |
Banque de Tunisie, 7.375% |
4/25/12 |
Baa2 |
BBB |
1,940,125 |
|
Turkey - 1.6% |
|||||||
|
1,670 |
Turkey Republic, 12.375% |
6/15/09 |
B1 |
BB- |
2,087,500 |
|
800 |
Turkey Republic, 11.750% |
6/15/10 |
B1 |
BB- |
996,000 |
||
450 |
Turkey Republic, 9.000% |
6/30/11 |
B1 |
BB- |
502,594 |
||
400 |
Turkey Republic, 11.000% |
1/14/13 |
B1 |
BB- |
492,500 |
||
390 |
Turkey Republic, 7.250% (DD, settling 10/07/04) |
3/15/15 |
B1 |
BB- |
384,435 |
||
410 |
Turkey Republic, 11.875% |
1/15/30 |
B1 |
BB- |
567,850 |
||
5,030,879 |
|||||||
Ukraine - 1.6% |
|||||||
|
800 |
Ukraine Cabinet Ministers, 144A, 5.330% |
8/05/09 |
B1 |
B+ |
812,000 |
|
350 |
Ukraine Government, 6.875% |
3/04/11 |
B1 |
B+ |
346,684 |
||
1,600 |
Ukraine Government, 144A, 7.650% |
6/11/13 |
B1 |
B+ |
1,608,000 |
||
1,073 |
Ukraine Government, Reg S, 11.000% |
3/15/07 |
B1 |
B+ |
1,173,982 |
||
1,000 |
Ukraine Government, Series 2004, 5.330% |
8/05/09 |
B1 |
B+ |
1,017,146 |
||
4,957,812 |
|||||||
Uruguay - 1.2% |
|||||||
|
1,800 |
Uruguay Republic, 7.250% |
2/15/11 |
B3 |
B |
1,701,000 |
|
2,520 |
Uruguay Republic, 7.875% |
1/15/33 |
B3 |
B |
2,041,225 |
||
3,742,225 |
|||||||
Venezuela - 1.5% |
|||||||
|
500 |
Venezuela Republic, 2.750% |
12/18/07 |
Caa1 |
B |
498,995 |
|
2,600 |
Venezuela Republic, 5.375% |
8/07/10 |
B2 |
B |
2,360,556 |
||
335 |
Venezuela Republic, 8.500% (DD, settling 10/08/04) |
10/08/14 |
B2 |
B |
328,300 |
||
1,040 |
Venezuela Republic, 9.250% |
9/15/27 |
B2 |
B |
1,027,520 |
||
500 |
Venezuela Republic, 9.375% |
1/13/34 |
B2 |
B |
495,250 |
||
4,710,621 |
|||||||
Vietnam - 0.8% |
|||||||
|
2,600 |
Socialist Republic of Vietnam, 4.000% |
3/14/16 |
NR |
BB- |
2,435,592 |
|
Total Emerging Markets Sovereign Debt (cost $96,915,484) |
100,710,868 |
||||||
U.S. CONVERTIBLE BONDS - 1.2% (0.8% of Total Investments) |
|||||||
Financials - 1.2% |
|||||||
|
5,000 |
Trizec Hahn Corporation, 3.000% |
1/29/21 |
Ba1 |
NR |
3,650,000 |
|
Total U.S. Convertible Bonds (cost $3,585,228) |
3,650,000 |
||||||
U.S. CORPORATE BONDS - 3.7% (5.2% of Total Investments) |
|||||||
Hotels Restaurants & Leisure - 2.8% |
|||||||
|
2,000 |
Aztar Corporation, 9.000% |
8/15/11 |
Ba3 |
B+ |
2,225,000 |
|
2,150 |
Harrahs Entertainment, 7.875% |
12/15/05 |
Ba1 |
BB+ |
2,276,313 |
||
2,000 |
MGM Mirage, Inc., 6.750% |
8/01/07 |
Ba1 |
BB+ |
2,120,000 |
||
2,000 |
Park Place Entertainment, 7.875% |
12/15/05 |
Ba2 |
BB- |
2,110,000 |
||
8,731,313 |
|||||||
Real Estate - 2.4% |
|||||||
|
2,000 |
D.R. Horton, Inc., 7.500% |
12/01/07 |
Ba1 |
BB+ |
2,210,000 |
|
2,000 |
KB Home, 8.625% |
12/15/08 |
Ba2 |
BB- |
2,260,000 |
||
3,000 |
Standard Pacific Corporation, 6.500% |
10/01/08 |
Ba2 |
BB |
3,150,000 |
||
7,620,000 |
|||||||
Total U.S. Corporate Bonds (cost $16,039,638) |
16,351,313 |
||||||
REPURCHASE AGREEMENTS - 2.7% (2.0% of Total Investments) |
|||||||
$ | 8,664 |
State Street Bank, 1.700%, dated 9/30/04, due 10/01/04, repurchase price $8,664,665 |
8,664,256 |
||||
collateralized by $6,705,000 U.S. Treasury Bonds, 7.500%, due 11/15/16, value $8,843,265 |
|||||||
Total Repurchase Agreements (cost $8,664,256) |
8,664,256 |
||||||
Total Investments (cost $400,372,274) - 137.0% |
433,811,302 |
||||||
Other Assets less Liabilities - 0.9% |
2,781,226 |
||||||
Preferred Shares, at Liquidation Value - (37.9)% |
(120,000,000) |
||||||
Net Assets Applicable to Common Shares - 100% |
$316,592,528 |
||||||
(1) |
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares |
||
unless otherwise noted. |
|||
(2) |
Senior Loans in which the Fund invests generally pay interest at rates which are periodically adjusted by |
||
reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally |
|||
(i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate |
|||
("LIBOR"), (ii) the prime rate offered by one or more major United States banks, or (iii) the certificate of deposit rate. |
|||
Senior Loans are generally considered to be 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. |
|||
Pursuant to the terms of certain of the variable rate senior loan agreements, the Fund may have senior loan |
|||
commitments. The Fund will maintain with its custodian, cash, liquid securities and/or liquid senior loans |
|||
having an aggregate value at least equal to the amount of unfunded senior loan commitments. At |
|||
September 30, 2004, the Fund had an unfunded loan commitment of $409,091. |
|||
* |
Senior Loans in the Fund's portfolio 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 in the Fund's portfolio may occur. As a result, the actual |
|||
remaining maturity of Senior Loans held in the Fund's portfolio may be substantially less than the stated |
|||
maturities shown. The Fund estimates that the actual average maturity of the Senior Loans held in its portfolio |
|||
will be approximately 18-24 months. |
|||
** |
Ratings below Baa by Moody's Investor Service, Inc. or BBB by Standard & Poor's Group are considered to |
||
be below investment grade. |
|||
(a) |
At or subsequent to September 30, 2004, this issue was under the protection of the federal bankruptcy court. |
||
144A |
144A securities are those which are exempt from registration under Rule 144A of the Securities Act of 1933, |
||
as amended. These securities 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 U.S. without |
||
registering those securities with the SEC. Specifically, Reg S provides a safe harbor from the registration |
|||
requirements of the Securities Act for offers and sales of securities by both foreign and domestic issuers that |
|||
are made outside the United States. |
|||
(DD) |
Security purchased on a delayed delivery basis. |
||
NR |
Not rated. |
||
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 on debt |
|||
securities, recognition of income on REIT securities, and timing differences in recognizing certain gains and |
|||
losses on security transactions. |
|||
At September 30, 2004, the cost of investments was $401,196,490. |
|||
Gross unrealized appreciation and gross unrealized depreciation of investments at September 30, 2004, |
|||
were as follows: |
|||
Gross unrealized: |
|||
Appreciation |
$34,456,252 |
||
Depreciation |
(1,841,440) |
||
Net unrealized appreciation of investments |
$32,614,812 |
||
Item 2. Controls and Procedures.
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 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.
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/ Jessica R. Droeger--Vice President and Secretary
Date 11/29/04
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--Chief Administrative Officer (Principal Executive Officer)
Date 11/29/04
By (Signature and Title)* /s/ Stephen D. Foy--Vice President and Controller (Principal Financial Officer)
Date 11/29/04
* Print the name and title of each signing officer under his or her signature.