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: 09/30/05
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, 2005 |
Shares | Description(1) | Value | |||||||||||||
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COMMON STOCKS - 33.2% (24.4% of Total Investments) | |||||||||||||||
Aerospace & Defense - 1.8% | |||||||||||||||
50,000 | Lockheed Martin Corporation | $ | 3,052,000 | ||||||||||||
85,000 | Raytheon Company | 3,231,700 | |||||||||||||
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|||||||||||||||
6,283,700 | |||||||||||||||
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Commercial Banks - 1.7% | |||||||||||||||
69,200 | Bank of America Corporation | 2,913,320 | |||||||||||||
65,000 | Wachovia Corporation | 3,093,350 | |||||||||||||
|
|||||||||||||||
6,006,670 | |||||||||||||||
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Commercial Services & Supplies - 1.3% | |||||||||||||||
105,000 | Pitney Bowes Inc. | 4,382,700 | |||||||||||||
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Containers & Packaging - 0.8% | |||||||||||||||
146,300 | Packaging Corp of America | 2,839,683 | |||||||||||||
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|||||||||||||||
Diversified Financial Services - 2.1% | |||||||||||||||
100,000 | Citigroup Inc. | 4,552,000 | |||||||||||||
85,000 | JPMorgan Chase & Co | 2,884,050 | |||||||||||||
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|||||||||||||||
7,436,050 | |||||||||||||||
|
|||||||||||||||
Diversified Telecommunication Services - 4.1% | |||||||||||||||
90,000 | KT Corporation, Sponsored ADR | 2,025,000 | |||||||||||||
175,500 | SBC Communications Inc. | 4,206,735 | |||||||||||||
135,000 | Sprint Corporation | 3,210,300 | |||||||||||||
52,500 | Telecom Italia S.p.A., Sponsored ADR | 1,711,500 | |||||||||||||
90,600 | Verizon Communications Inc. | 2,961,714 | |||||||||||||
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14,115,249 | |||||||||||||||
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Electric Utilities - 1.4% | |||||||||||||||
93,000 | EDP - Energias de Portugal, S.A., Sponsored ADR | 2,594,700 | |||||||||||||
118,000 | Korea Electric Power Corporation (KEPCO), Sponsored ADR | 2,089,780 | |||||||||||||
|
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4,684,480 | |||||||||||||||
|
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Food & Staples Retailing - 0.8% | |||||||||||||||
66,700 | Albertson's, Inc. | 1,710,855 | |||||||||||||
60,812 | J Sainsbury plc, Sponsored ADR | 1,201,037 | |||||||||||||
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|||||||||||||||
2,911,892 | |||||||||||||||
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Household Durables - 0.7% | |||||||||||||||
112,000 | Newell Rubbermaid Inc. | 2,536,800 | |||||||||||||
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Household Products - 1.3% | |||||||||||||||
73,000 | Kimberly-Clark Corporation | 4,345,690 | |||||||||||||
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Insurance - 1.8% | |||||||||||||||
120,000 | Aon Corporation | 3,849,600 | |||||||||||||
30,000 | Hartford Financial Services Group, Inc. | 2,315,100 | |||||||||||||
6,164,700 | |||||||||||||||
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Media - 0.5% | |||||||||||||||
48,900 | Dow Jones & Company, Inc. | 1,867,491 | |||||||||||||
|
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Metals & Mining - 2.6% | |||||||||||||||
146,000 | Alumina Limited, Sponsored ADR | 2,757,940 | |||||||||||||
33,000 | POSCO, ADR | 1,866,480 | |||||||||||||
26,500 | Rio Tinto plc, Sponsored ADR | 4,353,950 | |||||||||||||
|
|||||||||||||||
8,978,370 | |||||||||||||||
|
|||||||||||||||
Multi-Utilities & Unregulated Power - 1.2% | |||||||||||||||
25,000 | Dominion Resources, Inc. | 2,153,500 | |||||||||||||
82,800 | United Utilities plc, Sponsored ADR | 1,940,004 | |||||||||||||
|
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4,093,504 | |||||||||||||||
|
|||||||||||||||
Oil, Gas, & Consumable Fuels - 4.0% | |||||||||||||||
33,000 | ChevronTexaco Corporation | 2,136,090 | |||||||||||||
41,800 | ConocoPhillips | 2,922,238 | |||||||||||||
23,000 | Eni S.p.A., Sponsored ADR | 3,406,300 | |||||||||||||
14,605 | Kerr-McGee Corporation | 1,418,292 | |||||||||||||
30,000 | Total SA, Sponsored ADR | 4,074,600 | |||||||||||||
|
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13,957,520 | |||||||||||||||
|
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Paper & Forest Products - 0.9% | |||||||||||||||
105,500 | International Paper Company | 3,143,900 | |||||||||||||
|
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Pharmaceuticals - 0.9% | |||||||||||||||
110,000 | Merck & Co. Inc. | 2,993,100 | |||||||||||||
|
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Thrifts & Mortgage Finance - 2.1% | |||||||||||||||
81,600 | Fannie Mae | 3,657,312 | |||||||||||||
94,100 | IndyMac Bancorp, Inc. | 3,724,478 | |||||||||||||
|
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7,381,790 | |||||||||||||||
|
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Tobacco - 3.2% | |||||||||||||||
88,200 | Altria Group, Inc. | 6,501,222 | |||||||||||||
113,000 | Loews Corp - Carolina Group | 4,478,190 | |||||||||||||
|
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10,979,412 | |||||||||||||||
|
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Total Common Stocks (cost $94,279,359) | 115,102,701 | ||||||||||||||
|
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REAL ESTATE INVESTMENT TRUST COMMON STOCKS - 36.6% (26.9% of Total Investments) | |||||||||||||||
Apartments - 8.1% | |||||||||||||||
242,800 | AMLI Residential Properties Trust | 7,786,596 | |||||||||||||
114,900 | Archstone-Smith Trust | 4,581,063 | |||||||||||||
57,500 | AvalonBay Communities, Inc. | 4,927,750 | |||||||||||||
86,200 | Camden Property Trust | 4,805,650 | |||||||||||||
164,400 | Post Properties, Inc. | 6,123,900 | |||||||||||||
|
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28,224,959 | |||||||||||||||
|
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Healthcare - 2.7% | |||||||||||||||
166,000 | Nationwide Health Properties, Inc. | 3,867,800 | |||||||||||||
293,800 | Senior Housing Properties Trust | 5,582,200 | |||||||||||||
|
|||||||||||||||
9,450,000 | |||||||||||||||
|
|||||||||||||||
Hotels - 2.2% | |||||||||||||||
350,000 | DiamondRock Hospitality Company | 4,112,500 | |||||||||||||
338,736 | Hersha Hospitality Trust | 3,363,648 | |||||||||||||
7,476,148 | |||||||||||||||
|
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Industrial - 0.6% | |||||||||||||||
50,000 | First Industrial Realty Trust, Inc. | 2,002,500 | |||||||||||||
|
|||||||||||||||
Mortgage - 0.8% | |||||||||||||||
45,000 | American Home Mortgage Investment Corp | 1,363,500 | |||||||||||||
220,000 | MFA Mortgage Investments, Inc. | 1,348,600 | |||||||||||||
|
|||||||||||||||
2,712,100 | |||||||||||||||
|
|||||||||||||||
Office Property - 14.2% | |||||||||||||||
180,300 | Arden Realty, Inc. | 7,422,951 | |||||||||||||
200,300 | Brandywine Realty Trust | 6,227,327 | |||||||||||||
219,100 | Equity Office Properties Trust | 7,166,761 | |||||||||||||
192,000 | Glenborough Realty Trust Inc. | 3,686,400 | |||||||||||||
130,000 | Highwoods Properties, Inc. | 3,836,300 | |||||||||||||
435,600 | HRPT Properties Trust | 5,405,796 | |||||||||||||
158,900 | Mack-Cali Realty Corporation | 7,140,966 | |||||||||||||
146,800 | Maguire Properties, Inc. | 4,411,340 | |||||||||||||
115,400 | Reckson Associates Realty Corporation | 3,987,070 | |||||||||||||
|
|||||||||||||||
49,284,911 | |||||||||||||||
|
|||||||||||||||
Regional Malls - 1.6% | |||||||||||||||
32,400 | Simon Property Group, Inc. | 2,401,488 | |||||||||||||
49,900 | The Macerich Company | 3,240,506 | |||||||||||||
|
|||||||||||||||
5,641,994 | |||||||||||||||
|
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Shopping Center - 4.0% | |||||||||||||||
252,900 | Cedar Shopping Centers Inc. | 3,659,463 | |||||||||||||
73,500 | Federal Realty Investment Trust | 4,478,355 | |||||||||||||
221,000 | Kite Realty Group Trust | 3,297,320 | |||||||||||||
107,100 | New Plan Excel Realty Trust | 2,457,945 | |||||||||||||
|
|||||||||||||||
13,893,083 | |||||||||||||||
|
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Storage - 2.4% | |||||||||||||||
90,700 | Shurgard Storage Centers, Inc. | 5,067,409 | |||||||||||||
165,800 | U-Store-It Trust | 3,360,766 | |||||||||||||
|
|||||||||||||||
8,428,175 | |||||||||||||||
|
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Total Real Estate Investment Trust Common Stocks (cost $99,610,202) | 127,113,870 | ||||||||||||||
|
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Shares | Description(1) | Coupon | Value | ||||||||||||
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REAL ESTATE INVESTMENT TRUST PREFERRED STOCKS - 1.1% | |||||||||||||||
(0.8% of Total Investments) | |||||||||||||||
Apartments - 1.1% | |||||||||||||||
150,000 | Apartment Investment & Management Company, Series U | 7.750 | % | 3,754,500 | |||||||||||
|
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Total Real Estate Investment Trust Preferred Stocks (cost $3,707,925) | 3,754,500 | ||||||||||||||
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Weighted Average Coupon | |||||||||||||||
Stated Maturity* | Ratings** | ||||||||||||||
Principal Amount (000) |
|
||||||||||||||
Description(1) | Moody's | S&P | Value | ||||||||||||
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VARIABLE RATE SENIOR LOAN INTERESTS(2) - 22.8% (16.7% of Total Investments) | |||||||||||||||
Aerospace & Defense - 1.9% | |||||||||||||||
$ | 2,467 | Hexcel, Term Loan B | 5.313 | % | 3/01/12 | B2 | B+ | 2,495,444 | |||||||
1,900 | K & F Industries, Inc., Term Loan B | 6.284 | % | 11/18/12 | B2 | B+ | 1,914,250 | ||||||||
1,625 | Vought Aircraft Industries, Inc., Term Loan | 6.350 | % | 12/22/11 | Ba3 | B+ | 1,643,701 | ||||||||
364 | Vought Aircraft Industries, Inc., Tranche B, Letter of Credit | 5.840 | % | 12/22/10 | Ba3 | B+ | 368,239 | ||||||||
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6,421,634 | |||||||||||||||
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Auto Components - 1.2% | |||||||||||||||
2,500 | Federal-Mogul Corporation, Term Loan A (a) | 6.090 | % | 2/24/04 | N/R | N/R | 2,350,000 | ||||||||
1,217 | Tenneco Automotive Inc., Term Loan B | 6.080 | % | 12/12/10 | B1 | B+ | 1,239,152 | ||||||||
534 | Tenneco Automotive Inc., Term Loan B-1 | 5.943 | % | 12/12/10 | B1 | B+ | 544,338 | ||||||||
|
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4,133,490 | |||||||||||||||
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Building Products - 1.2% | |||||||||||||||
1,980 | Nortek, Inc., Term Loan B | 5.915 | % | 8/27/11 | B2 | B | 2,007,473 | ||||||||
994 | Stile Acquisition Corporation, Canadien Term Loan | 5.912 | % | 3/21/13 | B2 | BB- | 998,390 | ||||||||
996 | Stile Acquisition Corporation, Term Loan B | 5.666 | % | 5/13/11 | B2 | BB- | 1,000,091 | ||||||||
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4,005,954 | |||||||||||||||
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Chemicals - 1.1% | |||||||||||||||
1,939 | GenTek, Inc., Term Loan B | 6.605 | % | 12/31/10 | B2 | B+ | 1,956,273 | ||||||||
1,990 | Rockwood Specialties Group, Inc., Tranche D | 5.930 | % | 7/30/12 | B1 | B+ | 2,024,203 | ||||||||
|
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3,980,476 | |||||||||||||||
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Commercial Services & Supplies - 0.7% | |||||||||||||||
676 | Allied Waste North America, Inc., Letter of Credit | 3.100 | % | 3/21/12 | B1 | BB | 681,588 | ||||||||
1,770 | Allied Waste North America, Inc., Term Loan B | 5.851 | % | 3/12/21 | B1 | BB | 1,785,515 | ||||||||
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2,467,103 | |||||||||||||||
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Containers & Packaging - 1.5% | |||||||||||||||
2,978 | Graham Packaging Company, L.P., Term Loan B | 6.151 | % | 10/07/11 | B2 | B | 3,020,768 | ||||||||
175 | Smurfit-Stone Container Corporation, Deposit-Funded Commitment | 2.100 | % | 11/01/11 | Ba3 | BB- | 176,607 | ||||||||
1,389 | Smurfit-Stone Container Corporation, Term Loan B | 5.697 | % | 11/01/11 | Ba3 | BB- | 1,404,349 | ||||||||
427 | Smurfit-Stone Container Corporation, Term Loan C | 5.834 | % | 11/01/11 | Ba3 | BB- | 432,107 | ||||||||
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5,033,831 | |||||||||||||||
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Diversified Telecommunication Services - 0.6% | |||||||||||||||
1,985 | Intelsat, Ltd., Term Loan B | 5.813 | % | 7/06/11 | B1 | B | 2,011,466 | ||||||||
|
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Electrical Equipment - 0.5% | |||||||||||||||
1,630 | Sensus Metering Systems Inc., Term Loan B-1 | 5.954 | % | 12/17/10 | B2 | B+ | 1,649,796 | ||||||||
254 | Sensus Metering Systems Inc., Term Loan B-2 | 5.969 | % | 12/17/10 | B2 | B+ | 257,368 | ||||||||
|
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1,907,164 | |||||||||||||||
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Food Products - 0.8% | |||||||||||||||
2,738 | Michael Foods, Inc., Term Loan B | 5.170 | % | 11/20/10 | B1 | B+ | 2,786,174 | ||||||||
|
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Healthcare Equipment & Supplies - 0.3% | |||||||||||||||
927 | Kinetic Concepts, Inc., Term Loan B-2 | 5.780 | % | 8/11/10 | Ba3 | BB | 939,672 | ||||||||
|
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Healthcare Providers & Services - 1.8% | |||||||||||||||
1,960 | Beverly Enterprises, Inc., Term Loan B | 6.477 | % | 10/22/08 | Ba3 | BB | 1,966,125 | ||||||||
2,000 | Davita, Inc., Term Loan B (b) | TBD | TBD | B1 | BB- | 2,032,084 | |||||||||
2,175 | LifePoint Hospitals, Inc., Term Loan B | 5.435 | % | 9/30/11 | Ba3 | BB | 2,199,769 | ||||||||
|
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6,197,978 | |||||||||||||||
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Hotels, Restaurants & Leisure - 2.6% | |||||||||||||||
2,000 | 24 Hour Fitness Worldwide, Inc., Term Loan B | 6.780 | % | 6/06/05 | B2 | B | 2,033,750 | ||||||||
2,000 | Burger King Corporation, Term Loan B | 5.500 | % | 7/17/12 | Ba2 | B+ | 2,033,036 | ||||||||
2,000 | Penn National Gaming, Inc., Term Loan B (b) | TBD | TBD | Ba3 | BB- | 2,027,656 | |||||||||
513 | Venetian Casino Resort, LLC, Delayed Draw, Term Loan | 5.770 | % | 6/15/11 | B1 | BB- | 517,909 | ||||||||
2,487 | Venetian Casino Resort, LLC, Term Loan | 5.770 | % | 6/15/11 | B1 | BB- | 2,511,857 | ||||||||
|
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9,124,208 | |||||||||||||||
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|
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Insurance - 0.3% | |||||||||||||||
1,100 | Conseco, Inc., Term Loan | 5.768 | % | 6/22/10 | B2 | BB- | 1,114,094 | ||||||||
|
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IT Services - 1.1% | |||||||||||||||
1,765 | Fidelity National Information Services, Term Loan B | 5.478 | % | 3/09/13 | Ba3 | BB | 1,773,510 | ||||||||
2,000 | SunGard Data Systems, Inc., Term Loan B | 6.280 | % | 1/25/13 | B1 | B+ | 2,025,228 | ||||||||
|
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3,798,738 | |||||||||||||||
|
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Media - 5.5% | |||||||||||||||
1,973 | Charter Communications Operating, LLC, Term Loan B | 6.930 | % | 4/07/11 | B2 | B | 1,984,218 | ||||||||
1,499 | Dex Media West, LLC, Term Loan B | 5.512 | % | 3/09/10 | Ba2 | BB | 1,510,767 | ||||||||
1,985 | Emmis Operating Company, Term Loan | 5.518 | % | 11/10/11 | Ba2 | B+ | 2,001,624 | ||||||||
1,970 | Loews Cineplex Entertainment Corporation, Term Loan B | 5.880 | % | 6/30/11 | B1 | B | 1,982,991 | ||||||||
2,000 | Metro-Goldwyn-Mayer Studios, Inc., Term Loan B | 6.270 | % | 4/12/12 | N/R | N/R | 2,026,250 | ||||||||
1,735 | R.H. Donnelley Inc., Tranche D | 5.618 | % | 6/30/11 | B3 | B+ | 1,750,209 | ||||||||
1,990 | Rainbow Media Holdings LLC, Term Loan | 6.438 | % | 3/31/12 | B1 | BB+ | 2,010,522 | ||||||||
1,910 | Regal Cinemas Corporation, Term Loan | 6.020 | % | 11/10/10 | Ba3 | BB- | 1,932,240 | ||||||||
2,000 | UPC, Term Loan H2 | 6.004 | % | 9/30/12 | B1 | B | 2,024,375 | ||||||||
1,968 | WMG Acquisition Corp., Term Loan | 5.700 | % | 2/27/11 | B1 | B+ | 1,993,393 | ||||||||
|
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19,216,589 | |||||||||||||||
|
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Metals & Mining - 0.5% | |||||||||||||||
1,804 | Amsted Industries Incorporated, Term Loan B | 6.198 | % | 10/15/10 | B1 | BB- | 1,837,141 | ||||||||
|
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Real Estate - 1.2% | |||||||||||||||
1,987 | General Growth Properties, Inc., Term Loan B | 5.850 | % | 11/12/08 | Ba2 | BB+ | 2,014,339 | ||||||||
1,960 | LNR Property Corporation, Term Loan | 6.711 | % | 2/03/08 | B2 | B+ | 1,985,662 | ||||||||
|
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4,000,001 | |||||||||||||||
|
|||||||||||||||
Total Variable Rate Senior Loan Interests (cost $78,181,898) | 78,975,713 | ||||||||||||||
|
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Ratings** | |||||||||||||||
Principal Amount (000) |
|
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Description(1) | Coupon | Maturity | Moody's | S&P | Value | ||||||||||
|
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EMERGING MARKETS SOVEREIGN DEBT AND FOREIGN CORPORATE BONDS - 31.2% | |||||||||||||||
(22.9% of Total Investments) | |||||||||||||||
Argentina - 2.1% | |||||||||||||||
$ | 5,750 | Argentina Republic | 1.330 | % | 12/31/38 | N/R | B- | 2,285,625 | |||||||
1,652 | Argentina Republic | 8.280 | % | 12/31/33 | N/R | B- | 1,708,563 | ||||||||
1,623 | Argentina Republic | 3.010 | % | 8/03/12 | B3 | B- | 1,309,050 | ||||||||
885 | Argentine Beverages Financial Trust,144A | 7.375 | % | 3/22/12 | N/R | N/R | 918,188 | ||||||||
570 | Banco de Galicia y Buenos Aires, South America, Reg S | 7.190 | % | 1/01/10 | N/R | N/R | 562,191 | ||||||||
345 | Transportadora de Gas del Sur S.A., Series B-A, Reg S | 7.000 | % | 12/15/13 | N/R | CCC+ | 343,275 | ||||||||
|
|||||||||||||||
7,126,892 | |||||||||||||||
|
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Brazil - 1.2% | |||||||||||||||
1,620 | Brazil Republic | 11.000 | % | 8/17/40 | B1 | BB- | 1,988,145 | ||||||||
250 | Brazil Republic | 12.000 | % | 4/15/10 | B1 | BB- | 306,750 | ||||||||
1,000 | Brazil Republic | 7.875 | % | 3/07/15 | B1 | BB- | 1,040,000 | ||||||||
800 | Brazil Republic | 4.250 | % | 4/15/24 | B1 | BB- | 772,000 | ||||||||
|
|||||||||||||||
4,106,895 | |||||||||||||||
|
|||||||||||||||
Bulgaria - 0.4% | |||||||||||||||
1,100 | Bulgaria Republic, Reg S | 8.250 | % | 1/15/15 | Ba2 | BBB- | 1,354,210 | ||||||||
|
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Chile - 0.8% | |||||||||||||||
550 | Chile Republic | 6.875 | % | 4/28/09 | Baa1 | A | 589,875 | ||||||||
600 | Coldelco Inc., Reg S | 6.375 | % | 11/30/12 | A2 | A- | 650,940 | ||||||||
430 | Corporacion Nacional del Cobre, 144A | 5.500 | % | 10/15/13 | Aa3 | A | 442,120 | ||||||||
1,100 | Corporacion Nacional del Cobre, 144A | 4.750 | % | 10/15/14 | Aa3 | A | 1,069,460 | ||||||||
|
|||||||||||||||
2,752,395 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
China - 0.2% | |||||||||||||||
610 | China Development Bank (b) | 5.000 | % | 10/15/15 | A2 | A- | 602,070 | ||||||||
|
|||||||||||||||
Colombia - 1.0% | |||||||||||||||
350 | Colombia Republic | 11.750 | % | 2/25/20 | Ba2 | BB | 488,600 | ||||||||
700 | Colombia Republic | 10.000 | % | 1/23/12 | Ba2 | BB | 847,000 | ||||||||
610 | Colombia Republic | 10.375 | % | 1/28/33 | Ba2 | BB | 799,100 | ||||||||
1,350 | Colombia Republic | 8.125 | % | 5/21/24 | Ba2 | BB | 1,454,625 | ||||||||
|
|||||||||||||||
3,589,325 | |||||||||||||||
|
|||||||||||||||
Dominican Republic - 0.5% | |||||||||||||||
1,489 | Dominican Republic | 4.520 | % | 1/23/18 | B3 | B | 1,658,458 | ||||||||
|
|||||||||||||||
Ecuador - 1.2% | |||||||||||||||
3,925 | Ecuador Republic, Reg S | 9.000 | % | 8/15/30 | Caa1 | CCC+ | 3,722,863 | ||||||||
400 | Ecuador Republic, 144A | 9.000 | % | 8/15/30 | Caa1 | CCC+ | 378,000 | ||||||||
|
|||||||||||||||
4,100,863 | |||||||||||||||
|
|||||||||||||||
El Salvador - 0.9% | |||||||||||||||
850 | El Salvador Republic, 144A | 7.650 | % | 6/15/35 | Baa3 | BB+ | 890,375 | ||||||||
750 | El Salvador Republic, Reg S | 8.500 | % | 7/25/11 | Baa3 | BB+ | 870,305 | ||||||||
1,080 | El Salvador Republic, Reg S | 7.750 | % | 1/24/23 | Baa3 | BB+ | 1,216,462 | ||||||||
|
|||||||||||||||
2,977,142 | |||||||||||||||
|
|||||||||||||||
Germany - 0.4% | |||||||||||||||
500 | Aries Vermogensverwaltung Federation Sovereign Collateralized Debt, Reg S | 9.600 | % | 10/25/14 | Ba2 | BBB- | 661,235 | ||||||||
646 | Dresdner Bank AG, Ukreximbank LoanParticipation Notes | 7.750 | % | 9/23/09 | Ba2 | N/R | 677,783 | ||||||||
|
|||||||||||||||
1,339,018 | |||||||||||||||
|
|||||||||||||||
Guatemala - 0.3% | |||||||||||||||
880 | Republic of Guatemala, 144A | 8.125 | % | 10/06/34 | Ba2 | BB- | 990,000 | ||||||||
175 | Republic of Guatemala, Reg S | 10.250 | % | 11/08/11 | Ba2 | BB- | 215,121 | ||||||||
|
|||||||||||||||
1,205,121 | |||||||||||||||
|
|||||||||||||||
Hong Kong - 0.3% | |||||||||||||||
890 | Hong Kong, 144A | 5.125 | % | 8/01/14 | A1 | AA- | 901,723 | ||||||||
|
|||||||||||||||
Indonesia - 0.8% | |||||||||||||||
2,730 | Republic of Indonesia, 144A | 7.250 | % | 4/20/15 | B2 | B+ | 2,736,825 | ||||||||
|
|||||||||||||||
Kazakhstan - 0.3% | |||||||||||||||
800 | Development Bank of Kazakhstan | 7.375 | % | 11/12/13 | Baa3 | BBB- | 902,080 | ||||||||
|
|||||||||||||||
Luxembourg - 0.9% | |||||||||||||||
300 | Tengizchevroil LLP, 144A | 6.124 | % | 11/15/14 | Baa3 | BBB- | 308,250 | ||||||||
550 | UBS Luxembourg SA | 6.230 | % | 2/11/15 | Baa2 | N/R | 563,090 | ||||||||
1,000 | VTB Capital SA, 144A | 7.500 | % | 10/12/11 | Baa2 | BB+ | 1,100,000 | ||||||||
1,100 | VTB Capital SA, 144A | 6.250 | % | 7/02/35 | Baa2 | BB+ | 1,148,125 | ||||||||
|
|||||||||||||||
3,119,465 | |||||||||||||||
|
|||||||||||||||
Malaysia - 2.1% | |||||||||||||||
1,100 | Malaysia Republic | 8.750 | % | 6/01/09 | A3 | A- | 1,247,766 | ||||||||
2,000 | Malaysia Republic | 7.500 | % | 7/15/11 | A3 | A- | 2,272,262 | ||||||||
2,725 | Petronas Capital Limited, Reg S | 7.000 | % | 5/22/12 | A2 | A- | 3,055,188 | ||||||||
200 | Petronas Capital Limited, Reg S | 7.875 | % | 5/22/22 | Baa1 | A- | 248,899 | ||||||||
550 | Sarawak International Inc. | 5.500 | % | 8/03/15 | Baa1 | A- | 543,593 | ||||||||
|
|||||||||||||||
7,367,708 | |||||||||||||||
|
|
|
|||||||||||||
Mexico - 2.5% | |||||||||||||||
550 | America Movil S.A. de C.V. | 5.500 | % | 3/01/14 | A3 | BBB | 545,159 | ||||||||
895 | Conproca SA, Reg S | 12.000 | % | 6/16/10 | Baa3 | BBB- | 1,098,613 | ||||||||
240 | Controladora Comercial Mexicana, 144A | 6.625 | % | 6/01/15 | Baa2 | BBB- | 243,471 | ||||||||
1,100 | Empresa Nacional del Petroleo, 144A | 4.875 | % | 3/15/14 | A2 | A | 1,056,315 | ||||||||
1,200 | Pemex Project Funding Master Trust, 144A | 5.750 | % | 12/15/15 | Baa1 | BBB | 1,189,500 | ||||||||
750 | Pemex Project Funding Master Trust, RegS | 6.625 | % | 6/15/35 | Baa1 | BBB | 738,563 | ||||||||
1,200 | Pemex Project Funding Master Trust | 8.500 | % | 2/15/08 | Baa1 | BBB | 1,297,500 | ||||||||
275 | Petroleos Mexicanos | 8.850 | % | 9/15/07 | Baa1 | BBB | 296,863 | ||||||||
590 | Petroleos Mexicanos | 9.375 | % | 12/02/08 | Baa1 | BBB | 665,225 | ||||||||
1,000 | United Mexican States, Series A | 6.375 | % | 1/16/13 | Baa1 | BBB | 1,066,500 | ||||||||
220 | United Mexican States | 8.125 | % | 12/30/19 | Baa1 | BBB | 267,300 | ||||||||
200 | United Mexican States | 8.300 | % | 8/15/31 | Baa1 | BBB | 250,500 | ||||||||
430 | United Mexican States | 6.625 | % | 3/03/15 | Baa1 | BBB | 468,270 | ||||||||
|
|||||||||||||||
9,183,779 | |||||||||||||||
|
|||||||||||||||
Panama - 0.9% | |||||||||||||||
1,400 | Panama Republic | 9.375 | % | 4/01/29 | Ba1 | BB | 1,785,000 | ||||||||
650 | Panama Republic | 9.625 | % | 2/08/11 | Ba1 | BB | 780,000 | ||||||||
460 | Panama Republic | 9.375 | % | 1/16/23 | Ba1 | BB | 583,050 | ||||||||
|
|||||||||||||||
3,148,050 | |||||||||||||||
|
|||||||||||||||
Peru - 1.5% | |||||||||||||||
1,911 | Peru Republic | 5.000 | % | 3/07/17 | Ba3 | BB | 1,863,225 | ||||||||
1,169 | Peru Republic | 5.000 | % | 3/07/17 | Ba3 | BB | 1,159,736 | ||||||||
915 | Peru Republic | 8.750 | % | 11/21/33 | Ba3 | BB | 1,109,438 | ||||||||
450 | Peru Republic | 8.375 | % | 5/03/16 | Ba3 | BB | 528,750 | ||||||||
610 | Peru Republic | 7.350 | % | 7/21/25 | Ba3 | BB | 649,650 | ||||||||
|
|||||||||||||||
5,310,799 | |||||||||||||||
|
|||||||||||||||
Philippines - 1.2% | |||||||||||||||
750 | National Power Corporation, 144A | 8.073 | % | 8/23/11 | B1 | BB- | 752,368 | ||||||||
1,500 | Philippines Republic | 9.375 | % | 1/18/17 | B1 | BB- | 1,651,875 | ||||||||
1,193 | Philippines Republic | 8.375 | % | 2/15/11 | B1 | BB- | 1,251,159 | ||||||||
670 | Philippines Republic | 8.000 | % | 1/15/16 | B1 | BB- | 675,863 | ||||||||
|
|||||||||||||||
4,331,265 | |||||||||||||||
|
|||||||||||||||
Poland - 0.1% | |||||||||||||||
500 | Poland Republic | 5.250 | % | 1/15/14 | A2 | BBB+ | 515,625 | ||||||||
|
|||||||||||||||
Qatar - 0.6% | |||||||||||||||
373 | Ras Laffan Liquefied Natural GasCompany Limited, 144A | 3.437 | % | 9/15/09 | Baa1 | A- | 360,576 | ||||||||
780 | Ras Laffan Liquified Natural Gas Company Limited, Reg S | 3.437 | % | 9/15/09 | Baa1 | A- | 758,122 | ||||||||
550 | State of Qatar, Reg S | 9.750 | % | 6/15/30 | A1 | A+ | 844,250 | ||||||||
|
|||||||||||||||
1,962,948 | |||||||||||||||
|
|||||||||||||||
Russia - 1.8% | |||||||||||||||
830 | GazStream SA, 144A | 5.625 | % | 7/22/13 | Baa2 | BB- | 836,225 | ||||||||
1,000 | Russia Federation, Reg S | 5.000 | % | 3/31/30 | Baa3 | BBB- | 1,151,554 | ||||||||
2,050 | Russia Ministry of Finance | 3.000 | % | 5/14/08 | Ba2 | BBB- | 1,956,520 | ||||||||
600 | Russia Ministry of Finance | 3.000 | % | 5/14/11 | Ba1 | BBB- | 535,560 | ||||||||
750 | Russian Federation, Reg S | 11.000 | % | 7/24/18 | Baa3 | BBB- | 1,148,585 | ||||||||
400 | Russian Ministry of Finance, Reg S | 12.750 | % | 6/24/28 | Ba2 | BB+ | 755,156 | ||||||||
|
|||||||||||||||
6,383,600 | |||||||||||||||
|
|||||||||||||||
Saint Lucia - 0.1% | |||||||||||||||
300 | First Citizens Saint Lucia Limited, Reg S | 5.125 | % | 2/14/11 | A2 | BBB | 297,266 | ||||||||
|
|||||||||||||||
Serbia - 0.6% | |||||||||||||||
2,500 | Serbia Republic, 144A | 3.750 | % | 11/01/24 | N/R | BB- | 2,246,875 | ||||||||
|
|||||||||||||||
South Africa - 1.8% | |||||||||||||||
5,450 | South Africa Republic | 9.125 | % | 5/19/09 | Baa1 | BBB+ | 6,213,000 | ||||||||
|
|||||||||||||||
South Korea - 0.4% | |||||||||||||||
410 | Hanarotelecom Inc., 144A | 7.000 | % | 2/01/12 | Ba2 | BB | 405,264 | ||||||||
895 | Korea Development Bank | 4.625 | % | 9/16/10 | A3 | A | 884,125 | ||||||||
|
|||||||||||||||
1,289,389 | |||||||||||||||
|
|||||||||||||||
Thailand - 0.1% | |||||||||||||||
250 | Bangkok Bank Public Company Limited, Reg S | 9.025 | % | 3/15/29 | Baa2 | BB- | 318,715 | ||||||||
|
|||||||||||||||
Trinidad - 0.5% | |||||||||||||||
1,233 | Republic of Trinidad and Tobago, Reg S | 9.750 | % | 7/01/20 | Baa3 | A- | 1,757,256 | ||||||||
|
|||||||||||||||
Tunisia - 0.6% | |||||||||||||||
1,700 | Banque de Tunisie | 7.375 | % | 4/25/12 | Baa2 | BBB | 1,929,500 | ||||||||
|
|||||||||||||||
Turkey - 1.3% | |||||||||||||||
825 | Turkey Republic | 9.000 | % | 6/30/11 | B1 | BB- | 953,906 | ||||||||
1,875 | Turkey Republic | 7.375 | % | 2/05/25 | B1 | BB- | 1,882,031 | ||||||||
1,275 | Turkey Republic | 7.000 | % | 6/05/20 | B1 | BB- | 1,263,844 | ||||||||
350 | Turkey Republic | 11.750 | % | 6/15/10 | B1 | BB- | 437,500 | ||||||||
|
|||||||||||||||
4,537,281 | |||||||||||||||
|
|||||||||||||||
Ukraine - 0.4% | |||||||||||||||
600 | Republic of Ukraine, Reg S | 6.875 | % | 3/04/11 | B1 | BB- | 633,420 | ||||||||
644 | Ukraine Government, Reg S | 11.000 | % | 3/15/07 | B1 | B | 682,367 | ||||||||
|
|||||||||||||||
1,315,787 | |||||||||||||||
|
|||||||||||||||
United Kingdom - 0.2% | |||||||||||||||
550 | Vedanta Resources PLC, Reg S | 6.625 | % | 2/22/10 | Ba2 | BB+ | 546,963 | ||||||||
|
|||||||||||||||
Uruguay - 1.1% | |||||||||||||||
970 | Uruguay Republic | 9.250 | % | 5/17/17 | B3 | B | 1,092,463 | ||||||||
2,150 | Uruguay Republic | 7.250 | % | 2/15/11 | B3 | B | 2,246,750 | ||||||||
315 | Uruguay Republic | 7.500 | % | 3/15/15 | B3 | B | 324,450 | ||||||||
|
|||||||||||||||
3,663,663 | |||||||||||||||
|
|||||||||||||||
Venezuela - 1.4% | |||||||||||||||
1,000 | Venezuela Republic | 9.375 | % | 1/13/34 | B2 | B+ | 1,186,500 | ||||||||
550 | Venezuela Republic | 8.500 | % | 10/08/14 | B2 | B+ | 611,875 | ||||||||
10 | Venezuela Republic | 9.250 | % | 9/15/27 | B2 | B+ | 11,855 | ||||||||
1,200 | Venezuela Republic | 7.650 | % | 4/21/25 | B2 | B | 1,216,200 | ||||||||
1,935 | Venezuela Republic, Reg S | 5.375 | % | 8/07/10 | Caa1 | B- | 1,889,522 | ||||||||
|
|||||||||||||||
4,915,952 | |||||||||||||||
|
|||||||||||||||
Vietnam - 0.7% | |||||||||||||||
2,593 | Socialist Republic of Vietnam | 4.813 | % | 3/14/16 | B1 | BB- | 2,413,960 | ||||||||
|
|||||||||||||||
Total Emerging Markets Sovereign Debt and Foreign Corporate Bonds (cost $102,625,432) | 108,121,863 | ||||||||||||||
|
|||||||||||||||
U.S. CONVERTIBLE BONDS - 1.4% (1.0% of Total Investments) | |||||||||||||||
Metals & Mining - 1.4% | |||||||||||||||
5,000 | Trizec Hahn Corporation | 3.000 | % | 1/29/21 | N/R | N/R | 4,756,250 | ||||||||
|
|||||||||||||||
Total U.S. Convertible Bonds (cost $3,639,668) | 4,756,250 | ||||||||||||||
|
|||||||||||||||
U.S. CORPORATE BONDS - 4.5% (3.3% of Total Investments) | |||||||||||||||
Hotels, Restaurants & Leisure - 2.4% | |||||||||||||||
2,000 | Aztar Corporation | 9.000 | % | 8/15/11 | Ba3 | B+ | 2,135,000 | ||||||||
2,150 | Harrahs Entertainment | 7.875 | % | 12/15/05 | Ba1 | BB+ | 2,168,813 | ||||||||
2,000 | MGM Mirage, Inc. | 6.750 | % | 8/01/07 | Ba1 | BB+ | 2,045,000 | ||||||||
2,000 | Park Place Entertainment | 7.875 | % | 12/15/05 | Ba2 | BB- | 2,017,500 | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,366,313 | |||||||||||||||
| |||||||||||||||
Household Durables - 2.1% | |||||||||||||||
2,000 | D.R. Horton, Inc. | 7.500 | % | 12/01/07 | Ba1 | BB+ | 2,103,084 | ||||||||
2,000 | KB Home | 8.625 | % | 12/15/08 | Ba2 | BB- | 2,135,888 | ||||||||
3,000 | Standard Pacific Corporation | 6.500 | % | 10/01/08 | Ba2 | BB | 2,988,750 | ||||||||
| |||||||||||||||
7,227,722 | |||||||||||||||
| |||||||||||||||
Total U.S. Corporate Bonds (cost $15,803,509) | 15,594,035 | ||||||||||||||
| |||||||||||||||
Principal | |||||||||||||||
Amount (000) | Description(1) | Value | |||||||||||||
| |||||||||||||||
REPURCHASE AGREEMENTS - 5.4% (4.0% Total Investments) | |||||||||||||||
State Street Bank, 3.150%, dated 9/30/05, due 10/03/05, repurchase price $18,821,396 | |||||||||||||||
$ | 18,816 | collateralized by $19,495,000 U.S. Treasury Bills, 3.930%, due 3/02/06, value $19,192,828 | 18,816,457 | ||||||||||||
|
| ||||||||||||||
Total Repurchase Agreements (cost $18,816,457) - 5.4% | 18,816,457 | ||||||||||||||
| |||||||||||||||
Total Investments (cost $416,664,450) - 136.2% | 472,235,389 | ||||||||||||||
| |||||||||||||||
Other Assets Less Liabilities - (1.6)% | (5,429,558 | ) | |||||||||||||
| |||||||||||||||
Preferred Shares, at Liquidation Value - (34.6)% | (120,000,000 | ) | |||||||||||||
| |||||||||||||||
Net Assets Applicable to Common Shares - 100% | $ | 346,805,831 | |||||||||||||
|
|
|
|
(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 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. | |||
* | Senior Loans in the Funds 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 Funds portfolio may occur. As a result, the actual | |||
remaining maturity of Senior Loans held in the Funds portfolio may be substantially less than the stated | |||
maturities shown. | |||
** | Ratings below Baa by Moodys Investor Service, Inc. or BBB by Standard & Poors Group are considered to | ||
be below investment grade. | |||
(a) | At or subsequent to September 30, 2005, this issue was under the protection of Federal Bankruptcy Court. | ||
(b) | Purchased on a when-issued or delayed delivery basis. | ||
ADR | American Depository Receipt | ||
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 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 basis in the primary market. Certain details associated with this | ||
purchase are not known prior to the settlement date of the transaction. In addition, Senior Loans typically | |||
trade without accrued interest and therefore a weighted average coupon rate is not available prior to settlement. | |||
At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final weighted | |||
average coupon rate and maturity date. | |||
N/R | Investment is 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 timing differences in recognizing market discount, amortization on premium, recognition of income on REIT securities, and timing differences in recognizing certain gains and losses on investment transactions.
At September 30, 2005, the cost of investments was $418,238,571.
Gross unrealized appreciation and gross unrealized depreciation of investments at September 30, 2005, were as follows:
|
|
|
|
|
|
Gross unrealized: | |||||
Appreciation | $ | 59,976,461 | |||
Depreciation | (5,979,643 | ) | |||
| |||||
Net unrealized appreciation of investments | $ | 53,996,818 | |||
|
|
|
|
|
|
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 1940 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
Jessica R. Droeger
Vice President and Secretary
Date 11/29/05
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 11/29/05
By (Signature and Title)* /s/ Stephen D. Foy
Stephen D. Foy
Vice President and Controller (principal financial
officer)
Date 11/29/05
* Print the name and title of each signing officer under his or her signature.