Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)
June 28 2023 - 11:48AM
Edgar (US Regulatory)
Nuveen
Preferred
and
Income
Term
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
/
Shares
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
LONG-TERM
INVESTMENTS
-
156.1%
(98.8%
of
Total
Investments)
X
327,892,642
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
80.3%
(50.8%
of
Total
Investments)
X
327,892,642
Automobiles
-
2.3%
$
2,910
General
Motors
Financial
Co
Inc
5.700%
N/A
(3)
BB+
$
2,542,612
7,963
General
Motors
Financial
Co
Inc
5.750%
N/A
(3)
BB+
6,758,756
Total
Automobiles
9,301,368
Banks
-
29.8%
3,290
Bank
of
America
Corp
(4)
6.250%
N/A
(3)
BBB+
3,216,304
3,150
Bank
of
America
Corp
6.300%
N/A
(3)
BBB+
3,172,212
3,620
Bank
of
America
Corp
6.500%
N/A
(3)
BBB+
3,608,850
1,960
Bank
of
America
Corp
6.100%
N/A
(3)
BBB+
1,923,250
1,970
Bank
of
America
Corp
4.375%
N/A
(3)
BBB+
1,679,425
6,465
Citigroup
Inc
5.000%
N/A
(3)
BBB-
6,060,937
2,870
Citigroup
Inc
(5)
6.250%
N/A
(3)
BBB-
2,814,810
7,308
Citigroup
Inc
5.950%
N/A
(3)
BBB-
6,851,379
7,565
Citigroup
Inc
6.300%
N/A
(3)
BBB-
7,136,065
1,315
Citigroup
Inc
(5)
7.375%
N/A
(3)
BBB-
1,298,562
1,695
Citigroup
Inc
4.150%
N/A
(3)
BBB-
1,394,138
1,070
Citizens
Financial
Group
Inc
4.000%
N/A
(3)
Baa3
831,925
880
Citizens
Financial
Group
Inc
6.375%
N/A
(3)
Baa3
761,200
4,805
CoBank
ACB
6.450%
N/A
(3)
BBB+
4,528,339
1,065
Fifth
Third
Bancorp
4.500%
N/A
(3)
Baa3
943,220
2,670
First
Citizens
BancShares
Inc
/NC
(3-Month
LIBOR
reference
rate
+
3.972%
spread)
(6)
8.838%
N/A
(3)
Ba1
2,476,425
860
Goldman
Sachs
Group
Inc
/The
3.800%
N/A
(3)
BBB-
712,725
850
Goldman
Sachs
Group
Inc
/The
4.400%
N/A
(3)
BB+
722,252
2,121
HSBC
Capital
Funding
Dollar
1
LP,
144A
10.176%
N/A
(3)
BBB
2,586,712
4,740
Huntington
Bancshares
Inc
/OH
5.625%
N/A
(3)
Baa3
4,228,194
5,800
JPMorgan
Chase
&
Co
(5)
5.000%
N/A
(3)
BBB+
5,558,523
985
JPMorgan
Chase
&
Co
3.650%
N/A
(3)
BBB+
863,550
9,892
JPMorgan
Chase
&
Co
6.750%
N/A
(3)
BBB+
9,880,130
1,715
JPMorgan
Chase
&
Co
6.100%
N/A
(3)
BBB+
1,696,941
2,430
KeyCorp
5.000%
N/A
(3)
Baa3
1,919,699
1,570
M&T
Bank
Corp
6.450%
N/A
(3)
Baa2
1,421,831
1,340
M&T
Bank
Corp
3.500%
N/A
(3)
Baa2
881,050
2,785
M&T
Bank
Corp
5.125%
N/A
(3)
Baa2
2,156,909
945
PNC
Financial
Services
Group
Inc
/The
6.200%
N/A
(3)
Baa2
889,914
1,760
PNC
Financial
Services
Group
Inc
/The
6.000%
N/A
(3)
Baa2
1,632,400
2,371
PNC
Financial
Services
Group
Inc
/The
(3-Month
LIBOR
reference
rate
+
3.678%
spread)
(6)
3.804%
N/A
(3)
Baa2
2,359,541
1,407
PNC
Financial
Services
Group
Inc
/The
5.000%
N/A
(3)
Baa2
1,280,370
2,130
PNC
Financial
Services
Group
Inc
/The
3.400%
N/A
(3)
Baa2
1,629,609
4,315
PNC
Financial
Services
Group
Inc
/The
(5)
6.250%
N/A
(3)
Baa2
3,954,697
1,625
Regions
Financial
Corp
5.750%
N/A
(3)
Baa3
1,536,024
3,270
Truist
Financial
Corp
5.100%
N/A
(3)
Baa2
2,884,344
7,045
Truist
Financial
Corp
(5)
4.800%
N/A
(3)
Baa2
6,120,344
1,805
Truist
Financial
Corp
(3-Month
LIBOR
reference
rate
+
3.102%
spread)
(5),(6)
7.968%
N/A
(3)
Baa2
1,732,800
3,256
Wells
Fargo
&
Co
5.900%
N/A
(3)
Baa2
3,070,082
5,150
Wells
Fargo
&
Co
3.900%
N/A
(3)
Baa2
4,481,491
5,638
Wells
Fargo
&
Co
(4)
5.875%
N/A
(3)
Baa2
5,515,204
1,230
Wells
Fargo
&
Co
(5)
7.950%
11/15/29
Baa1
1,371,037
1,415
Zions
Bancorp
NA
(5)
7.200%
N/A
(3)
BB+
1,214,778
1,050
Zions
Bancorp
NA
5.800%
N/A
(3)
BB+
823,291
Total
Banks
121,821,483
Nuveen
Preferred
and
Income
Term
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
/
Shares
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Capital
Markets
-
3.4%
$
1,145
Bank
of
New
York
Mellon
Corp/The
4.700%
N/A
(3)
Baa1
$
1,114,944
1,685
Charles
Schwab
Corp/The
4.000%
N/A
(3)
Baa2
1,413,327
3,115
Charles
Schwab
Corp/The
5.375%
N/A
(3)
Baa2
2,965,091
4,127
Goldman
Sachs
Group
Inc
/The
(5)
5.300%
N/A
(3)
BBB-
3,915,636
3,785
Goldman
Sachs
Group
Inc
/The
5.500%
N/A
(3)
BBB-
3,652,031
950
Goldman
Sachs
Group
Inc
/The
4.125%
N/A
(3)
BBB-
796,306
Total
Capital
Markets
13,857,335
Communications
Equipment
-
0.3%
1,290
Vodafone
Group
PLC
4.125%
6/04/81
BB+
1,043,610
Total
Communications
Equipment
1,043,610
Consumer
Finance
-
2.3%
2,570
Ally
Financial
Inc
4.700%
N/A
(3)
Ba2
1,805,425
1,980
Ally
Financial
Inc
4.700%
N/A
(3)
Ba2
1,460,250
2,350
American
Express
Co
3.550%
N/A
(3)
Baa2
1,974,421
2,705
Capital
One
Financial
Corp
3.950%
N/A
(3)
Baa3
1,995,311
1,820
Discover
Financial
Services
6.125%
N/A
(3)
Ba1
1,722,960
800
Discover
Financial
Services
5.500%
N/A
(3)
Ba1
608,000
Total
Consumer
Finance
9,566,367
Electric
Utilities
-
2.9%
1,920
American
Electric
Power
Co
Inc
(5)
3.875%
2/15/62
BBB
1,536,621
2,110
Edison
International
5.000%
N/A
(3)
BB+
1,803,661
930
Edison
International
5.375%
N/A
(3)
BB+
828,188
6,100
Emera
Inc
(5)
6.750%
6/15/76
BB+
5,809,718
1,935
Southern
Co/The
4.000%
1/15/51
BBB-
1,818,126
Total
Electric
Utilities
11,796,314
Financial
Services
-
5.6%
2,010
American
AgCredit
Corp,
144A
5.250%
N/A
(3)
BB+
1,748,700
2,425
Capital
Farm
Credit
ACA,
144A
5.000%
N/A
(3)
BB
2,182,500
12
Compeer
Financial
ACA,
144A
6.750%
N/A
(3)
BB+
11,741,191
1,050
Compeer
Financial
ACA,
144A
4.875%
N/A
(3)
BB+
924,000
3,430
Equitable
Holdings
Inc
(4)
4.950%
N/A
(3)
BBB-
3,125,781
3,171
Voya
Financial
Inc
(5)
6.125%
N/A
(3)
BBB-
3,054,244
Total
Financial
Services
22,776,416
Food
Products
-
5.3%
2,250
Dairy
Farmers
of
America
Inc
,
144A
7.125%
N/A
(3)
BB+
1,912,500
2,240
Land
O'
Lakes
Inc
,
144A
7.250%
N/A
(3)
BB
1,926,400
7,223
Land
O'
Lakes
Inc
,
144A
7.000%
N/A
(3)
BB
6,139,550
12,550
Land
O'
Lakes
Inc
,
144A
8.000%
N/A
(3)
BB
11,546,000
Total
Food
Products
21,524,450
Independent
Power
and
Renewable
Electricity
Producers
-
1.4%
1,240
AES
Andes
SA,
144A
(5)
7.125%
3/26/79
BB
1,168,080
2,550
AES
Andes
SA,
144A
6.350%
10/07/79
BB
2,366,115
1,135
Vistra
Corp,
144A
8.000%
N/A
(3)
Ba3
1,069,738
1,095
Vistra
Corp,
144A
7.000%
N/A
(3)
Ba3
982,027
Total
Independent
Power
and
Renewable
Electricity
Producers
5,585,960
Industrial
Conglomerates
-
0.7%
2,747
General
Electric
Co
(3-Month
LIBOR
reference
rate
+
3.330%
spread)
(5),(6)
8.196%
N/A
(3)
BBB-
2,742,193
Total
Industrial
Conglomerates
2,742,193
Principal
Amount
(000)
/
Shares
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Insurance
-
15.3%
$
1,505
Aegon
NV
5.500%
4/11/48
Baa1
$
1,459,549
1,447
American
International
Group
Inc
(5)
5.750%
4/01/48
BBB-
1,392,738
8,580
Assurant
Inc
(5)
7.000%
3/27/48
Baa3
8,184,908
10,595
Assured
Guaranty
Municipal
Holdings
Inc
,
144A
(5)
6.400%
12/15/66
BBB+
9,482,525
2,320
AXIS
Specialty
Finance
LLC
(5)
4.900%
1/15/40
BBB
1,864,715
1,540
Enstar
Finance
LLC
5.750%
9/01/40
BBB-
1,285,669
1,505
Enstar
Finance
LLC
(5)
5.500%
1/15/42
BBB-
1,083,445
4,755
Markel
Corp
(4)
6.000%
N/A
(3)
BBB-
4,620,089
1,525
MetLife
Inc
3.850%
N/A
(3)
BBB
1,418,250
1,095
MetLife
Inc
(5)
5.875%
N/A
(3)
BBB
1,016,102
3,440
MetLife
Inc
,
144A
(5)
9.250%
4/08/38
BBB
4,050,600
2,335
PartnerRe
Finance
B
LLC
(5)
4.500%
10/01/50
Baa1
1,961,742
4,129
Provident
Financing
Trust
I
7.405%
3/15/38
BB+
4,149,645
1,405
Prudential
Financial
Inc
(5)
5.125%
3/01/52
BBB+
1,271,147
700
Prudential
Financial
Inc
3.700%
10/01/50
BBB+
599,873
1,135
QBE
Insurance
Group
Ltd
,
Reg
S
6.750%
12/02/44
BBB
1,124,131
2,770
QBE
Insurance
Group
Ltd,
144A
(5)
5.875%
N/A
(3)
Baa2
2,615,391
7,495
QBE
Insurance
Group
Ltd,
144A
(5)
7.500%
11/24/43
Baa1
7,494,177
2,600
SBL
Holdings
Inc
,
144A
6.500%
N/A
(3)
BB
1,513,694
9,195
SBL
Holdings
Inc
,
144A
(5)
7.000%
N/A
(3)
BB
5,930,775
Total
Insurance
62,519,165
Media
-
0.3%
1,660
Paramount
Global
6.375%
3/30/62
Baa3
1,423,882
Total
Media
1,423,882
Multi-Utilities
-
2.6%
1,195
Algonquin
Power
&
Utilities
Corp
4.750%
1/18/82
BB+
966,460
4,505
CenterPoint
Energy
Inc
6.125%
N/A
(3)
BBB-
4,291,012
570
CMS
Energy
Corp
(5)
4.750%
6/01/50
BBB-
498,750
1,215
NiSource
Inc
5.650%
N/A
(3)
BBB-
1,152,913
2,365
Sempra
Energy
4.875%
N/A
(3)
BBB-
2,223,957
1,785
Sempra
Energy
(5)
4.125%
4/01/52
BBB-
1,445,568
Total
Multi-Utilities
10,578,660
Oil,
Gas
&
Consumable
Fuels
-
2.7%
1,905
Enbridge
Inc
7.625%
1/15/83
BBB-
1,940,398
1,245
Enbridge
Inc
5.500%
7/15/77
BBB-
1,101,761
3,520
Enbridge
Inc
(5)
5.750%
7/15/80
BBB-
3,222,268
690
Enbridge
Inc
6.000%
1/15/77
BBB-
644,852
1,590
Energy
Transfer
LP
(5)
6.500%
N/A
(3)
BB
1,407,150
345
Energy
Transfer
LP
(5)
7.125%
N/A
(3)
BB
290,663
1,650
Transcanada
Trust
(5)
5.600%
3/07/82
BBB-
1,395,140
1,225
Transcanada
Trust
(5)
5.500%
9/15/79
BBB-
1,037,940
Total
Oil,
Gas
&
Consumable
Fuels
11,040,172
Trading
Companies
&
Distributors
-
3.9%
7,045
AerCap
Global
Aviation
Trust,
144A
(5)
6.500%
6/15/45
Baa3
6,617,242
1,915
AerCap
Holdings
NV
5.875%
10/10/79
BB+
1,776,252
2,045
Air
Lease
Corp
4.650%
N/A
(3)
BB+
1,679,351
1,855
ILFC
E-Capital
Trust
I,
144A
(5)
6.548%
12/21/65
Baa3
1,196,475
7,362
ILFC
E-Capital
Trust
I,
144A
(5)
6.798%
12/21/65
Baa3
4,776,097
Total
Trading
Companies
&
Distributors
16,045,417
U.S.
Agency
-
0.7%
2,270
Farm
Credit
Bank
of
Texas,
144A
5.700%
N/A
(3)
Baa1
1,974,900
1,180
Farm
Credit
Bank
of
Texas,
144A
6.200%
N/A
(3)
BBB+
1,035,450
Total
U.S.
Agency
3,010,350
Nuveen
Preferred
and
Income
Term
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
/
Shares
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
Wireless
Telecommunication
Services
-
0.8%
$
3,180
Vodafone
Group
PLC
(5)
7.000%
4/04/79
BB+
$
3,259,500
Total
Wireless
Telecommunication
Services
3,259,500
Total
$1,000
Par
(or
similar)
Institutional
Preferred
(cost
$359,696,846)
327,892,642
Principal
Amount
(000)
Description
(1),(7)
Coupon
Maturity
Ratings
(2)
Value
X
182,971,777
CONTINGENT
CAPITAL
SECURITIES
-
44.8%
(28.4%
of
Total
Investments)
X
182,971,777
Banks
-
37.2%
$
1,470
Australia
&
New
Zealand
Banking
Group
Ltd/United
Kingdom,
144A
6.750%
N/A
(3)
Baa2
$
1,418,371
6,020
Banco
Bilbao
Vizcaya
Argentaria
SA
(4)
6.500%
N/A
(3)
Ba2
5,489,818
3,010
Banco
Bilbao
Vizcaya
Argentaria
SA
6.125%
N/A
(3)
Ba2
2,399,195
1,300
Banco
Mercantil
del
Norte
SA/Grand
Cayman,
144A
(5)
7.500%
N/A
(3)
Ba2
1,147,250
2,930
Banco
Mercantil
del
Norte
SA/Grand
Cayman,
144A
(5)
7.625%
N/A
(3)
Ba2
2,666,756
4,060
Banco
Santander
SA
4.750%
N/A
(3)
Ba1
3,159,898
5,200
Banco
Santander
SA
,
Reg
S
7.500%
N/A
(3)
Ba1
4,992,000
7,610
Barclays
PLC
(5)
7.750%
N/A
(3)
BBB-
7,161,162
5,170
Barclays
PLC
(5)
8.000%
N/A
(3)
BBB-
4,768,808
3,460
Barclays
PLC
(5)
8.000%
N/A
(3)
BBB-
3,030,614
6,295
Barclays
PLC
6.125%
N/A
(3)
BBB-
5,406,775
1,350
BNP
Paribas
SA,
144A
7.000%
N/A
(3)
BBB
1,204,740
5,880
BNP
Paribas
SA,
144A
7.750%
N/A
(3)
BBB
5,615,400
1,360
BNP
Paribas
SA,
144A
9.250%
N/A
(3)
BBB
1,398,624
4,260
BNP
Paribas
SA,
144A
6.625%
N/A
(3)
BBB
4,059,354
2,745
BNP
Paribas
SA,
144A
7.375%
N/A
(3)
BBB
2,638,962
4,235
Credit
Agricole
SA,
144A
7.875%
N/A
(3)
BBB
4,155,594
5,684
Credit
Agricole
SA,
144A
8.125%
N/A
(3)
BBB
5,631,719
285
Danske
Bank
A/S
,
Reg
S
4.375%
N/A
(3)
BBB-
242,172
870
Danske
Bank
A/S
,
Reg
S
7.000%
N/A
(3)
BBB-
809,274
7,885
HSBC
Holdings
PLC
6.000%
N/A
(3)
BBB
6,966,398
12,361
HSBC
Holdings
PLC
6.375%
N/A
(3)
BBB
11,713,593
1,080
HSBC
Holdings
PLC
8.000%
N/A
(3)
BBB
1,071,900
6,200
ING
Groep
NV
,
Reg
S
6.750%
N/A
(3)
BBB
5,812,500
4,270
ING
Groep
NV
6.500%
N/A
(3)
BBB
3,946,396
4,850
ING
Groep
NV
5.750%
N/A
(3)
BBB
4,223,646
2,139
Intesa
Sanpaolo
SpA
,
144A
(5)
7.700%
N/A
(3)
BB-
1,946,222
7,035
Lloyds
Banking
Group
PLC
7.500%
N/A
(3)
Baa3
6,669,813
10,515
Lloyds
Banking
Group
PLC
7.500%
N/A
(3)
Baa3
10,113,485
3,050
Macquarie
Bank
Ltd/London,
144A
(4)
6.125%
N/A
(3)
BB+
2,629,233
5,500
NatWest
Group
PLC
8.000%
N/A
(3)
BBB-
5,444,615
5,020
NatWest
Group
PLC
6.000%
N/A
(3)
Baa3
4,705,748
2,810
Nordea
Bank
Abp
,
144A
6.625%
N/A
(3)
BBB+
2,631,481
1,265
Societe
Generale
SA,
144A
9.375%
N/A
(3)
BB+
1,200,991
1,113
Societe
Generale
SA,
144A
(5)
6.750%
N/A
(3)
BB
870,744
4,723
Societe
Generale
SA,
144A
(4)
7.875%
N/A
(3)
BB+
4,512,354
1,820
Societe
Generale
SA,
144A
8.000%
N/A
(3)
BB
1,698,506
2,635
Societe
Generale
SA,
144A
(5)
4.750%
N/A
(3)
BB+
2,011,295
1,850
Standard
Chartered
PLC,
144A
7.750%
N/A
(3)
BBB-
1,791,892
2,395
Standard
Chartered
PLC,
144A
4.300%
N/A
(3)
BBB-
1,688,714
140
Standard
Chartered
PLC,
144A
6.000%
N/A
(3)
BBB-
132,027
2,990
UniCredit
SpA
,
Reg
S
8.000%
N/A
(3)
BB-
2,886,098
Total
Banks
152,064,137
Capital
Markets
-
7.6%
8,520
Credit
Suisse
Group
AG,
144A
7.500%
N/A
(3)
C
319,500
9,496
Credit
Suisse
Group
AG,
144A
7.250%
N/A
(3)
C
356,100
1,955
Credit
Suisse
Group
AG,
144A
6.375%
N/A
(3)
Ba2
73,312
5,802
Credit
Suisse
Group
AG,
144A
7.500%
N/A
(3)
C
217,575
Principal
Amount
(000)
Description
(1),(7)
Coupon
Maturity
Ratings
(2)
Value
Capital
Markets
(continued)
$
4,285
Credit
Suisse
Group
AG,
144A
9.750%
N/A
(3)
C
$
160,688
10,795
Deutsche
Bank
AG
(5)
6.000%
N/A
(3)
Ba2
8,041,195
8,020
UBS
Group
AG
,
Reg
S
(5)
6.875%
N/A
(3)
BBB
7,228,025
7,442
UBS
Group
AG
,
Reg
S
7.000%
N/A
(3)
BBB
7,032,690
6,630
UBS
Group
AG,
144A
(5)
7.000%
N/A
(3)
BBB
6,215,625
1,685
UBS
Group
AG,
144A
3.875%
N/A
(3)
BBB
1,262,930
Total
Capital
Markets
30,907,640
Total
Contingent
Capital
Securities
(cost
$232,080,170)
182,971,777
Shares
Description
(1)
Coupon
Ratings
(2)
Value
X
125,548,122
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
30.7%
(19.4%
of
Total
Investments)
X
125,548,122
Banks
-
8.8%
62,728
CoBank
ACB
6.200%
BBB+
$
5,990,524
87,000
Farm
Credit
Bank
of
Texas,
144A
(5)
6.750%
Baa1
8,482,500
98,863
Fifth
Third
Bancorp
6.625%
Baa3
2,422,144
232,000
KeyCorp
(4)
6.200%
Baa3
5,150,400
25,900
KeyCorp
6.125%
Baa3
582,491
169,115
New
York
Community
Bancorp
Inc
(5)
6.375%
Ba2
3,958,982
120,200
Regions
Financial
Corp
(4)
6.375%
Baa3
2,879,992
57,838
Regions
Financial
Corp
5.700%
Baa3
1,338,371
61,453
Synovus
Financial
Corp
5.875%
BB-
1,300,345
64,600
Wells
Fargo
&
Co
4.750%
Baa2
1,299,752
43,000
Western
Alliance
Bancorp
4.250%
Ba3
679,400
86,389
Wintrust
Financial
Corp
6.875%
BB
2,044,828
Total
Banks
36,129,729
Capital
Markets
-
3.4%
30,159
Goldman
Sachs
Group
Inc
/The
5.500%
BB+
756,991
101,372
Morgan
Stanley
7.125%
BBB
2,582,958
93,300
Morgan
Stanley
6.375%
BBB
2,344,629
83,476
Morgan
Stanley
6.875%
BBB
2,118,621
196,300
Morgan
Stanley
5.850%
BBB
4,909,463
38,800
Morgan
Stanley
6.500%
BBB
1,014,232
Total
Capital
Markets
13,726,894
Consumer
Finance
-
0.3%
66,500
Synchrony
Financial
5.625%
BB-
1,127,175
Total
Consumer
Finance
1,127,175
Diversified
Telecommunication
Services
-
0.2%
49,500
AT&T
Inc
(5)
4.750%
BBB-
1,033,560
Total
Diversified
Telecommunication
Services
1,033,560
Financial
Services
-
3.7%
69,700
AgriBank
FCB
(4)
6.875%
BBB+
6,970,000
105,500
Equitable
Holdings
Inc
(5)
5.250%
BBB-
2,265,085
47,393
Federal
Agricultural
Mortgage
Corp
6.000%
N/R
1,220,370
190,535
Voya
Financial
Inc
(4)
5.350%
BBB-
4,649,054
Total
Financial
Services
15,104,509
Food
Products
-
2.9%
168,229
CHS
Inc
7.100%
N/R
4,172,079
61,800
CHS
Inc
7.875%
N/R
1,616,688
169,110
CHS
Inc
6.750%
N/R
4,241,279
20,500
Dairy
Farmers
of
America
Inc
,
144A
7.875%
BB+
1,886,000
Total
Food
Products
11,916,046
Nuveen
Preferred
and
Income
Term
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Investments
in
Derivatives
Shares
Description
(1)
Coupon
Ratings
(2)
Value
Insurance
-
8.3%
241,300
American
Equity
Investment
Life
Holding
Co
(4)
5.950%
BB
$
5,564,378
122,300
American
Equity
Investment
Life
Holding
Co
6.625%
BB
2,920,524
231,598
Aspen
Insurance
Holdings
Ltd
5.950%
BB+
5,586,144
62,000
Aspen
Insurance
Holdings
Ltd
5.625%
BB+
1,271,000
45,000
Assurant
Inc
5.250%
Baa3
957,150
159,300
Athene
Holding
Ltd
(5)
6.350%
BBB
3,455,217
120,000
Athene
Holding
Ltd
6.375%
BBB
2,706,000
39,400
Delphi
Financial
Group
Inc
(5)
8.054%
BBB
871,725
123,400
Enstar
Group
Ltd
(5)
7.000%
BBB-
2,825,860
100,469
Maiden
Holdings
North
America
Ltd
(5)
7.750%
N/R
1,657,738
64,300
Reinsurance
Group
of
America
Inc
7.125%
BBB+
1,687,875
146,800
Reinsurance
Group
of
America
Inc
(5)
5.750%
BBB+
3,718,444
43,200
Selective
Insurance
Group
Inc
(5)
4.600%
BBB-
749,520
Total
Insurance
33,971,575
Oil,
Gas
&
Consumable
Fuels
-
2.2%
33,200
Energy
Transfer
LP
7.600%
BB
767,584
139,235
NuStar
Energy
LP
(5)
10.942%
B2
3,212,152
125,403
NuStar
Energy
LP
(4)
12.065%
B2
3,106,232
71,018
NuStar
Logistics
LP
(5)
11.994%
B
1,813,800
Total
Oil,
Gas
&
Consumable
Fuels
8,899,768
Trading
Companies
&
Distributors
-
0.9%
114,543
Air
Lease
Corp
(5)
6.150%
BB+
2,507,346
41,600
WESCO
International
Inc
10.625%
B+
1,131,520
Total
Trading
Companies
&
Distributors
3,638,866
Total
$25
Par
(or
similar)
Retail
Preferred
(cost
$133,594,876)
125,548,122
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(2)
Value
X
1,073,392
CORPORATE
BONDS
-
0.3%
(0.2%
of
Total
Investments)
X
1,073,392
Banks
-
0.3%
$
1,085
Commerzbank
AG,
144A
(5)
8.125%
9/19/23
Baa3
$
1,073,392
Total
Banks
1,073,392
Total
Corporate
Bonds
(cost
$1,085,000)
1,073,392
Total
Long-Term
Investments
(cost
$726,456,892)
637,485,933
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
1.9% (1.2%
of
Total
Investments)
X
7,676,956
REPURCHASE
AGREEMENTS
-
1.9%
(1.2%
of
Total
Investments)
X
7,676,956
$
7,677
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
4/28/23,
repurchase
price
$7,677,877,
collateralized
by
$8,563,200,
U.S.
Treasury
Note,
0.750%,
due
5/31/26,
value
$7,830,509
1.440%
5/01/23
$
7,676,956
Total
Repurchase
Agreements
(cost
$7,676,956)
7,676,956
Total
Short-Term
Investments
(cost
$7,676,956)
7,676,956
Total
Investments
(cost
$734,133,848
)
-
158.0%
645,162,889
Borrowings
-
(42.6)%
(8),(9)
(173,900,000)
Reverse
Repurchase
Agreements,
including
accrued
interest
-
(16.0)%(10)
(65,494,258)
Other
Assets
&
Liabilities,
Net
- 0.6%(11)
2,649,874
Net
Assets
Applicable
to
Common
Shares
-
100%
$
408,418,505
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
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.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
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
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Interest
Rate
Swaps
-
OTC
Uncleared
Counterparty
Notional
Amount
Fund
Pay/Receive
Floating
Rate
Floating
Rate
Index
Fixed
Rate
(Annualized)
Fixed
Rate
Payment
Frequency
Effective
Date
(12)
Optional
Termination
Date
Maturity
Date
Value
Unrealized
Appreciation
(Depreciation)
Morgan
Stanley
Capital
Services,
LLC
$
45,000,000
Receive
1-Month
LIBOR
2.333%
Monthly
7/01/19
10/01/23
7/01/24
$
637,799
$
637,799
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
$1,000
Par
(or
similar)
Institutional
Preferred
$
11,741,191
$
316,151,451
$
–
$
327,892,642
Contingent
Capital
Securities
–
182,971,777
–
182,971,777
$25
Par
(or
similar)
Retail
Preferred
109,829,873
15,718,249
–
125,548,122
Corporate
Bonds
–
1,073,392
–
1,073,392
Short-Term
Investments:
Repurchase
Agreements
–
7,676,956
–
7,676,956
Investments
in
Derivatives:
Interest
Rate
Swaps*
–
637,799
–
637,799
Total
$
121,571,064
$
524,229,624
$
–
$
645,800,688
*
Represents
net
unrealized
appreciation
(depreciation).
For
Fund
portfolio
compliance
purposes,
the
Fund’s
industry
classifications
refer
to
any
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
ratings
group
indexes,
and/or
as
defined
by
Fund
management.
This
definition
may
not
apply
for
purposes
of
this
report,
which
may
combine
industry
sub-classifications
into
sectors
for
reporting
ease.
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(2)
For
financial
reporting
purposes,
the
ratings
disclosed
are
the
highest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
This
treatment
of
split-rated
securities
may
differ
from
that
used
for
other
purposes,
such
as
for
Fund
investment
policies.
Ratings
below
BBB
by
Standard
&
Poor’s,
Baa
by
Moody’s
or
BBB
by
Fitch
are
considered
to
be
below
investment
grade.
Holdings
designated
N/R
are
not
rated
by
any
of
these
national
rating
agencies.
(3)
Perpetual
security.
Maturity
date
is
not
applicable.
(4)
Investment,
or
portion
of
investment,
is
hypothecated.
The
total
value
of
investments
hypothecated
as
of
the
end
of
the
reporting
period
was
$55,943,383.
(5)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
reverse
repurchase
agreements.
As
of
the
end
of
the
reporting
period,
investments
with
a
value
of
$67,979,012
have
been
pledged
as
collateral
for
reverse
repurchase
agreements.
(6)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
Nuveen
Preferred
and
Income
Term
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
(7)
Contingent
Capital
Securities
(“
CoCos
”)
are
hybrid
securities
with
loss
absorption
characteristics
built
into
the
terms
of
the
security
for
the
benefit
of
the
issuer.
For
example,
the
terms
may
specify
an
automatic
write-down
of
principal
or
a
mandatory
conversion
into
the
issuer’s
common
stock
under
certain
adverse
circumstances,
such
as
the
issuer’s
capital
ratio
falling
below
a
specified
level.
(8)
Borrowings
as
a
percentage
of
Total
Investments
is
27.0%.
(9)
The
Fund
may
pledge
up
to
100%
of
its
eligible
investments
(excluding
any
investments
separately
pledged
as
collateral
for
specific
investments
in
derivatives,
when
applicable)
in
the
Portfolio
of
Investments
as
collateral
for
borrowings.
As
of
the
end
of
the
reporting
period,
investments
with
a
value
of
$464,889,028
have
been
pledged
as
collateral
for
borrowings.
(10)
Reverse
Repurchase
Agreements,
including
accrued
interest
as
a
percentage
of
Total
investments
is
10.2%.
(11)
Other
assets
less
liabilities
includes
the
unrealized
appreciation
(depreciation)
of
certain
over-the-counter
("OTC")
derivatives
as
well
as
the
OTC
cleared
and
exchange-traded
derivatives,
when
applicable.
(12)
Effective
date
represents
the
date
on
which
both
the
Fund
and
counterparty
commence
interest
payment
accruals
on
each
contract.
144A
Investment
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
investments
may
only
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
LIBOR
London
Inter-Bank
Offered
Rate
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.
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