N-Q 1 d473087dnq.htm NUVEEN NASDAQ 100 DYNAMIC OVERWRITE FUND Nuveen NASDAQ 100 Dynamic Overwrite 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 811-22971

Nuveen NASDAQ 100 Dynamic Overwrite Fund

(Exact name of registrant as specified in charter)

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman—Vice President and Secretary

    333 West Wacker Drive, Chicago, Illinois 60606    

(Name and address of agent for service)

Registrant’s telephone number, including area code:     312-917-7700    

Date of fiscal year end:       December 31      

Date of reporting period:  September 30, 2017  

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

 

 


QQQX

 

Nuveen Nasdaq 100 Dynamic Overwrite Fund

Portfolio of Investments

   September 30, 2017 (Unaudited)

 

Shares     Description (1)                   Value  
 

LONG-TERM INVESTMENTS – 102.0%

       
 

COMMON STOCKS – 99.2%

       
      Air Freight & Logistics – 0.1%                    
  2,768    

FedEx Corporation

                    $ 624,405  
      Airlines – 0.5%                    
  31,000    

Delta Air Lines, Inc.

          1,494,820  
  6,742    

Ryanair Holdings PLC

          710,742  
  26,300    

Southwest Airlines Co.

                      1,472,274  
 

Total Airlines

                      3,677,836  
      Auto Components – 0.2%                    
  26,602    

American Axle and Manufacturing Holdings Inc.

          467,663  
  21,986    

Gentex Corporation

          435,323  
  4,227    

Lear Corporation

                      731,609  
 

Total Auto Components

                      1,634,595  
      Automobiles – 1.2%                    
  49,165    

Ford Motor Company

          588,505  
  14,597    

Harley-Davidson, Inc.

          703,721  
  23,900    

Tesla Motors Inc., (2)

                      8,152,290  
 

Total Automobiles

                      9,444,516  
      Beverages – 0.7%                    
  8,894    

Brown-Forman Corporation

          482,944  
  91,000    

Monster Beverage Corporation, (2)

                      5,027,750  
 

Total Beverages

                      5,510,694  
      Biotechnology – 10.3%                    
  7,091    

AbbVie Inc.

          630,106  
  8,300    

Agios Pharmaceutical Inc., (2)

          554,025  
  35,000    

Alexion Pharmaceuticals Inc., (2)

          4,910,150  
  14,052    

Alkermes PLC, (2)

          714,404  
  114,700    

Amgen Inc.

          21,385,815  
  28,366    

Biogen Inc., (2)

          8,881,962  
  125,700    

Celgene Corporation, (2), (3)

          18,329,574  
  206,900    

Gilead Sciences, Inc., (3)

          16,763,038  
  61,949    

Immunogen, Inc., (2)

          473,910  
  10,536    

Ionis Pharmaceuticals, Inc., (2)

          534,175  
  12,904    

Myriad Genetics Inc., (2)

          466,867  
  17,600    

Regeneron Pharmaceuticals, Inc., (2)

          7,869,312  
  12,177    

Seattle Genetics, Inc., (2)

          662,551  
  3,617    

United Therapeutics Corporation, (2)

                      423,876  
 

Total Biotechnology

                      82,599,765  
      Capital Markets – 0.5%                    
  9,902    

Moody’s Corporation

          1,378,457  
  24,475    

Morgan Stanley

          1,178,961  
  11,627    

SEI Investments Company

          709,945  
  5,883    

T. Rowe Price Group Inc.

                      533,294  
 

Total Capital Markets

                      3,800,657  
      Commercial Services & Supplies – 0.3%                    
  10,324    

Copart Inc., (2)

          354,836  
  7,605    

KAR Auction Services Inc.

          363,063  
  15,000    

Tetra Tech, Inc.

          698,250  

 

NUVEEN     1  


QQQX    Nuveen Nasdaq 100 Dynamic Overwrite Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Shares     Description (1)                   Value  
      Commercial Services & Supplies (continued)                    
  7,182    

Waste Connections Inc.

        $ 502,453  
  9,417    

Waste Management, Inc.

                      737,069  
 

Total Commercial Services & Supplies

                      2,655,671  
      Communications Equipment – 3.4%                    
  810,000    

Cisco Systems, Inc.

                      27,240,300  
      Distributors – 0.3%                    
  3,449    

Genuine Parts Company

          329,897  
  40,570    

LKQ Corporation, (2)

          1,460,114  
  7,800    

Pool Corporation

                      843,726  
 

Total Distributors

                      2,633,737  
      Diversified Consumer Services – 0.2%                    
  43,200    

Service Corporation International

                      1,490,400  
      Diversified Telecommunication Services – 0.0%                    
  100    

Verizon Communications Inc.

                      4,949  
      Electrical Equipment – 0.2%                    
  9,400    

Rockwell Automation, Inc.

                      1,675,174  
      Electronic Equipment, Instruments & Components – 0.4%                    
  12,148    

Amphenol Corporation, Class A

          1,028,207  
  3,675    

Arrow Electronics, Inc., (2)

          295,507  
  5,960    

Avnet Inc.

          234,228  
  30,310    

Corning Incorporated

          906,875  
  7,692    

Keysight Technologies, Inc., (2)

          320,449  
  13,756    

National Instruments Corporation

                      580,091  
 

Total Electronic Equipment, Instruments & Components

                      3,365,357  
      Energy Equipment & Services – 0.1%                    
  32,600    

Nabors Industries Inc.

          263,082  
  100    

Oceaneering International Inc.

          2,627  
  37,300    

Transocean Inc.

          401,348  
  36,600    

Weatherford International PLC, (2)

                      167,628  
 

Total Energy Equipment & Services

                      834,685  
      Equity Real Estate Investment Trusts – 0.5%                    
  18,413    

Apartment Investment & Management Company, Class A

          807,594  
  54,600    

CubeSmart

          1,417,416  
  59,600    

Developers Diversified Realty Corporation

          545,936  
  19,400    

Kimco Realty Corporation

          379,270  
  12,035    

Ventas Inc.

                      783,840  
 

Total Equity Real Estate Investment Trusts

                      3,934,056  
      Food & Staples Retailing – 0.3%                    
  3,800    

Casey’s General Stores, Inc.

          415,910  
  5,900    

CVS Health Corporation

          479,788  
  25,300    

Kroger Co.

          507,518  
  85,700    

Rite Aid Corporation, (2)

          167,972  
  9,500    

Sprouts Farmers Market Inc., (2)

          178,315  
  8,700    

Sysco Corporation

          469,365  
  20,300    

US Foods Holding Corporation, (2)

                      542,010  
 

Total Food & Staples Retailing

                      2,760,878  
      Food Products – 0.2%                    
  100    

Bunge Limited

          6,946  
  15,200    

ConAgra Foods, Inc.

          512,848  
  5,300    

Hain Celestial Group Inc., (2)

          218,095  

 

  2     NUVEEN


Shares     Description (1)                   Value  
      Food Products (continued)                    
  100    

JM Smucker Company

        $ 10,493  
  11,000    

Pilgrim’s Pride Corporation, (2)

          312,510  
  3,800    

Post Holdings Inc., (2)

          335,426  
  100    

Treehouse Foods Inc., (2)

                      6,773  
 

Total Food Products

                      1,403,091  
      Health Care Equipment & Supplies – 1.1%                    
  68,600    

Abbott Laboratories

          3,660,496  
  8,796    

Baxter International, Inc.

          551,949  
  3,650    

Becton, Dickinson and Company, (3)

          715,217  
  16,000    

Danaher Corporation

          1,372,480  
  8,434    

Hill Rom Holdings Inc.

          624,116  
  3,714    

Stryker Corporation, (3)

          527,462  
  11,100    

Zimmer Biomet Holdings, Inc., (3)

                      1,299,699  
 

Total Health Care Equipment & Supplies

                      8,751,419  
      Health Care Providers & Services – 0.3%                    
  11,171    

Cardinal Health, Inc.

          747,563  
  4,093    

McKesson HBOC Inc., (3)

          628,726  
  7,946    

Universal Health Services, Inc., Class B

                      881,529  
 

Total Health Care Providers & Services

                      2,257,818  
      Hotels, Restaurants & Leisure – 0.5%                    
  20,714    

Carnival Corporation

          1,337,503  
  3,000    

Dominos Pizza Inc.

          595,650  
  29,200    

Restaurant Brands International Inc.

                      1,865,296  
 

Total Hotels, Restaurants & Leisure

                      3,798,449  
      Household Durables – 0.1%                    
  41,536    

KB Home

                      1,001,848  
      Industrial Conglomerates – 0.2%                    
  40,028    

General Electric Company

          967,877  
  5,740    

Honeywell International Inc.

                      813,588  
 

Total Industrial Conglomerates

                      1,781,465  
      Insurance – 0.4%                    
  12,439    

American International Group, Inc.

          763,630  
  23,648    

FNF Group

          1,122,334  
  12,000    

Torchmark Corporation

                      961,080  
 

Total Insurance

                      2,847,044  
      Internet & Direct Marketing Retail – 9.7%                    
  65,000    

Amazon.com, Inc., (2)

          62,487,750  
  11,995    

Hosting Site Network, Inc.

          468,405  
  8,500    

Priceline Group Incorporated, (2)

                      15,561,970  
 

Total Internet & Direct Marketing Retail

                      78,518,125  
      Internet Software & Services – 20.9%                    
  43,000    

Alphabet Inc., Class A, (2)

          41,869,960  
  49,000    

Alphabet Inc., Class C Shares, (2), (3)

          46,996,390  
  43,000    

Baidu Inc., ADR, (2), (3)

          10,650,670  
  210,000    

eBay Inc., (2), (3)

          8,076,600  
  324,900    

Facebook Inc., Class A Shares, (2), (3)

          55,515,663  
  17,600    

IAC/InterActiveCorp.

          2,069,408  
  4,807    

J2 Global Inc., (3)

          355,141  
  30,000    

Weibo Corporation Sponsored ADR, (2)

                      2,968,200  
 

Total Internet Software & Services

                      168,502,032  

 

NUVEEN     3  


QQQX    Nuveen Nasdaq 100 Dynamic Overwrite Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Shares     Description (1)                   Value  
      IT Services – 3.0%                    
  10,704    

CSRA Inc.

        $ 345,418  
  12,340    

DXC Technology Company

          1,059,759  
  23,800    

Fidelity National Information Services

          2,222,682  
  19,208    

Genpact Limited

          552,230  
  16,316    

Global Payments Inc.

          1,550,509  
  45,000    

Henry Jack and Associates Inc.

          4,625,550  
  29,448    

Infosys Technologies Limited

          429,646  
  5,008    

Leidos Holdings Inc.

          296,574  
  200,000    

PayPal Holdings, Inc., (2)

          12,806,000  
  8,580    

Total System Services Inc.

                      561,990  
 

Total IT Services

                      24,450,358  
      Life Sciences Tools & Services – 0.5%                    
  58,000    

Agilent Technologies, Inc.

          3,723,600  
  4,788    

Charles River Laboratories International, Inc., (2)

                      517,200  
 

Total Life Sciences Tools & Services

                      4,240,800  
      Machinery – 0.2%                    
  9,526    

Caterpillar Inc.

          1,187,987  
  8,005    

Fortive Corporation

                      566,674  
 

Total Machinery

                      1,754,661  
      Media – 4.0%                    
  4,900    

AMC Networks Inc., Class A Shares, (2)

          286,503  
  19,200    

CBS Corporation, Class B

          1,113,600  
  9,700    

Cinemark Holdings Inc.

          351,237  
  680,000    

Comcast Corporation, Class A

          26,166,400  
  100    

Lions Gate Entertainment Corporation, Equity, (2)

          3,345  
  66,088    

News Corporation Class B Shares

          902,101  
  79,632    

News Corporation, Class A Shares

          1,055,920  
  20,100    

Omnicom Group, Inc.

          1,488,807  
  24,700    

Regal Entertainment Group, Class A

          395,200  
  100    

Scripps Networks Interactive, Class A Shares

          8,589  
  100    

Tribune Media Company

          4,086  
  6,836    

WPP Group PLC

                      634,381  
 

Total Media

                      32,410,169  
      Metals & Mining – 0.0%                    
  29,300    

Tahoe Resources Inc.

                      154,411  
      Multiline Retail – 0.2%                    
  63,700    

J.C. Penney Company, Inc.

          242,697  
  6,900    

Kohl’s Corporation

          314,985  
  20,300    

Macy’s, Inc.

          442,946  
  100    

Nordstrom, Inc.

          4,715  
  10,100    

Target Corporation

                      596,001  
 

Total Multiline Retail

                      1,601,344  
      Oil, Gas & Consumable Fuels – 0.5%                    
  7,600    

Anadarko Petroleum Corporation

          371,260  
  11,800    

Antero Resources Corporation, (2)

          234,820  
  29,400    

Chesapeake Energy Corporation

          126,420  
  8,700    

Continental Resources Inc., (2)

          335,907  
  9,300    

Devon Energy Corporation

          341,403  
  100    

Extraction Oil & Gas, Inc., (2)

          1,539  
  16,200    

Gulfport Energy Corporation, (2)

          232,308  
  100    

Hess Corporation

          4,689  
  100    

Laredo Petroleum Holdings Inc., (2)

          1,293  
  23,900    

Marathon Oil Corporation

          324,084  
  100    

Murphy Oil Corporation

          2,656  
  11,100    

Newfield Exploration Company, (2)

          329,337  
  11,300    

Noble Energy, Inc.

          320,468  
  25,700    

QEP Resources Inc.

          220,249  

 

  4     NUVEEN


Shares     Description (1)                   Value  
      Oil, Gas & Consumable Fuels (continued)                    
  15,400    

Range Resources Corporation

        $ 301,378  
  9,300    

SM Energy Company

          164,982  
  38,600    

Southwestern Energy Company, (2)

          235,846  
  28,100    

Whiting Petroleum Corporation, (2)

                      153,426  
 

Total Oil, Gas & Consumable Fuels

                      3,702,065  
      Pharmaceuticals – 0.2%                    
  3,505    

Allergan PLC

          718,350  
  22,511    

Endo International PLC, (2)

          192,807  
  5,960    

Jazz Pharmaceuticals, Inc., (2)

                      871,650  
 

Total Pharmaceuticals

                      1,782,807  
      Professional Services – 0.3%                    
  10,307    

IHS Markit Limited, (2)

          454,333  
  11,461    

Manpower Inc.

          1,350,335  
  100    

Nielsen Holdings PLC

          4,145  
  19,598    

Robert Half International Inc.

                      986,563  
 

Total Professional Services

                      2,795,376  
      Semiconductors & Semiconductor Equipment – 11.0%                    
  92,000    

Analog Devices, Inc.

          7,927,640  
  160,000    

Applied Materials, Inc., (3)

          8,334,400  
  17,789    

Integrated Device Technology, Inc., (2)

          472,832  
  750,000    

Intel Corporation, (3)

          28,560,000  
  55,000    

Lam Research Corporation

          10,177,200  
  8,107    

Microsemi Corporation, (2)

          417,348  
  82,500    

NVIDIA Corporation

          14,748,525  
  27,886    

ON Semiconductor Corporation, (2)

          515,054  
  5,933    

Power Integrations Inc.

          434,296  
  236,000    

QUALCOMM, Inc., (3)

          12,234,240  
  10,146    

Silicon Laboratories Inc., (2)

          810,665  
  30,440    

Skyworks Solutions Inc.

          3,101,836  
  20,000    

Taiwan Semiconductor Manufacturing Company Limited

          751,000  
  7,657    

Xperi Corporation

                      193,722  
 

Total Semiconductors & Semiconductor Equipment

                      88,678,758  
      Software – 12.5%                    
  18,000    

Ansys Inc., (2)

          2,209,140  
  53,500    

Autodesk, Inc., (2)

          6,005,910  
  51,700    

Cadence Design Systems, Inc., (2)

          2,040,599  
  11,986    

CDK Global Inc.

          756,197  
  16,040    

Imperva Incorporated, (2)

          696,136  
  2,615    

Micro Focus International, (2)

          83,419  
  1,018,200    

Microsoft Corporation, (3)

          75,845,718  
  1,584    

Microstrategy Inc., (2)

          202,293  
  22,224    

Open Text Corporation

          717,613  
  49,900    

Oracle Corporation

          2,412,665  
  12,402    

Parametric Technology Corporation, (2)

          697,985  
  15,600    

Red Hat, Inc., (2)

          1,729,416  
  7,500    

ServiceNow Inc., (2)

          881,475  
  76,447    

Snap Incorporated, (2)

          1,111,539  
  25,700    

Synopsys Inc., (2), (3)

          2,069,621  
  30,000    

Take-Two Interactive Software, Inc., (2)

          3,066,900  
  5,000    

Workday Inc., Class A, (2)

                      526,950  
 

Total Software

                      101,053,576  
      Specialty Retail – 0.9%                    
  14,900    

Aaron Rents Inc.

          650,087  
  4,472    

Advance Auto Parts, Inc.

          443,622  
  100    

AutoNation Inc., (2)

          4,746  
  800    

AutoZone, Inc., (2)

          476,088  
  16,500    

Bed Bath and Beyond Inc.

          387,255  
  100    

Burlington Store Inc., (2)

          9,546  

 

NUVEEN     5  


QQQX    Nuveen Nasdaq 100 Dynamic Overwrite Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

Shares     Description (1)                   Value  
      Specialty Retail (continued)                    
  28,400    

CarMax, Inc., (2)

        $ 2,153,004  
  17,540    

Dick’s Sporting Goods Inc.

          473,755  
  9,300    

Foot Locker, Inc.

          327,546  
  100    

Gap, Inc.

          2,953  
  25,551    

L Brands Inc.

          1,063,177  
  14,500    

Michaels Cos Inc., (2)

          311,315  
  14,000    

Sally Beauty Holdings Inc., (2)

          274,120  
  3,700    

Signet Jewelers Limited

          246,235  
  17,800    

Urban Outfitters, Inc., (2)

                      425,420  
 

Total Specialty Retail

                      7,248,869  
      Technology Hardware, Storage & Peripherals – 12.5%                    
  647,000    

Apple, Inc., (3)

          99,715,640  
  19,045    

Hewlett Packard Enterprise Co

          280,152  
  19,045    

HP Inc.

                      380,138  
 

Total Technology Hardware, Storage & Peripherals

                      100,375,930  
      Textiles, Apparel & Luxury Goods – 0.4%                    
  7,396    

PVH Corporation

          932,340  
  3,800    

Ralph Lauren Corporation

          335,502  
  17,800    

Skechers USA Inc., (2)

          446,602  
  26,889    

Under Armour Inc., Class C Shares, (2)

          403,873  
  42,700    

Under Armour, Inc., (2)

                      703,696  
 

Total Textiles, Apparel & Luxury Goods

                      2,822,013  
      Tobacco – 0.2%                    
  12,975    

Altria Group, Inc.

          822,874  
  10,023    

Philip Morris International

                      1,112,653  
 

Total Tobacco

                      1,935,527  
      Wireless Telecommunication Services – 0.2%                    
  28,600    

Sprint Corporation, (2)

          222,508  
  19,244    

Telephone and Data Systems Inc.

          536,715  
  13,012    

United States Cellular Corporation, (2)

                      460,625  
 

Total Wireless Telecommunication Services

                      1,219,848  
 

Total Common Stocks (cost $303,110,412)

                      798,975,478  
Shares     Description (1), (4)                   Value  
 

EXCHANGE-TRADED FUNDS – 2.8%

       
  10,000    

iShares Russell 2000 ETF

        $ 1,481,800  
  10,000    

iShares PHLX Semiconductor ETF

          1,585,700  
  135,400    

PowerShares QQQ Trust, Series 1

                      19,693,930  
 

Total Exchange-Traded Funds (cost $21,360,141)

                      22,761,430  
 

Total Long-Term Investments (cost $324,470,553)

                      821,736,908  
Principal
Amount (000)
    Description (1)   Coupon      Maturity      Value  
      SHORT-TERM INVESTMENTS – 0.2%                    
      REPURCHASE AGREEMENTS – 0.2%                    
$ 1,435    

Repurchase Agreement with Fixed Income Clearing Corporation,
dated 9/29/17, repurchase price $1,434,798,
collateralized by $1,470,000 U.S. Treasury Notes,
2.250%, due 2/15/27, value $1,467,455

    0.120%        10/02/17      $ 1,434,784  
 

Total Short-Term Investments (cost $1,434,784)

                      1,434,784  
 

Total Investments (cost $325,905,337) – 102.2%

                      823,171,692  
 

Other Assets Less Liabilities – (2.2)% (5)

                      (17,694,209
 

Net Assets – 100%

                    $ 805,477,483  

 

  6     NUVEEN


Investments in Derivatives as of September 30, 2017

Options Purchased

Call Options

 

Description (6)      Number of
Contracts
       Notional
Amount (7)
       Exercise
Price
       Expiration
Date
       Value  
CBOE Volatility Index®        200        $ 260,000        $ 13          10/18/17        $ 13,000  
CBOE Volatility Index®        200          240,000          12          10/18/17          18,000  
iShares Silver Trust®        400          640,000          16          10/20/17          6,200  
Total Call Options Purchased (premiums paid $57,017)        800        $ 1,140,000                              $ 37,200  

Put Options

 

Description (6)      Number of
Contracts
       Notional
Amount (7)
       Exercise
Price
       Expiration
Date
       Value  
S&P 500® Index        71        $ 17,395,000        $ 2,450          10/20/17        $ 28,400  
Total Put Options Purchased (premiums paid $62,625)        71        $ 17,395,000                              $ 28,400  

Options Written

Call Options

 

Description (6)      Number of
Contracts
       Notional
Amount (7)
       Exercise
Price
       Expiration
Date
       Value  
CBOE Volatility Index®        (200      $ (320,000      $ 16          10/18/17        $ (7,000
NASDAQ 100® Index        (718        (430,800,000        6,000          10/20/17          (3,758,730
S&P 500® Index        (70        (17,500,000        2,500          10/20/17          (197,400
Total Call Options Written (premiums received $5,428,490)        (988      $ (448,620,000                            $ (3,963,130

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.

 

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).

 

NUVEEN     7  


QQQX    Nuveen Nasdaq 100 Dynamic Overwrite Fund
   Portfolio of Investments (continued)    September 30, 2017 (Unaudited)

 

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

   $ 798,975,478      $      $      $ 798,975,478  

Exchange-Traded Funds

     22,761,430                      22,761,430  

Short-Term Investments:

           

Repurchase Agreements

            1,434,784               1,434,784  

Investments in Derivatives:

           

Options Purchased

     65,600                      65,600  

Options Written

     (3,963,130                    (3,963,130

Total

   $ 817,839,378      $ 1,434,784      $      $ 819,274,162  

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 recording income, timing differences in recognizing certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on options contracts. 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.

The tables below present the cost and unrealized appreciation (depreciation) of the Fund’s investment portfolio, as determined on a federal income tax basis, as of September 30, 2017.

For purposes of this disclosure, derivative tax cost is generally the sum of any upfront fees or premiums exchanged and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting. If a particular derivative category does not disclose any tax unrealized appreciation or depreciation, the change in value of those derivatives have generally been fully realized for tax purposes.

 

Tax cost of investments

       $325,938,458  

Gross unrealized:

    

Appreciation

       $502,796,651  

Depreciation

       (5,563,417

Net unrealized appreciation (depreciation) of investments

       $497,233,234  
            

Tax cost of options purchased

       $65,600  

Net unrealized appreciation (depreciation) on options purchased

       $       —  
            

Tax cost of options written

       $(3,963,130

Net unrealized appreciation (depreciation) on options written

       $             —  

 

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.

 

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

 

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

 

(4) A copy of the most recent financial statements for these exchange-traded funds can be obtained directly from the Securities and Exchange Commission or on its website http://www.sec.gov.

 

(5) 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. Other assets less liabilities also includes the value of options.

 

(6) Exchange-traded, unless otherwise noted.

 

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

 

ADR American Depositary Receipt

 

  8     NUVEEN


Item 2. Controls and Procedures.

 

  a. 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)).

 

  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 NASDAQ 100 Dynamic Overwrite Fund   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                                           
   Gifford R. Zimmerman   
   Vice President and Secretary   

Date: November 29, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)    /s/ Cedric H. Antosiewicz                                                        
   Cedric H. Antosiewicz   
   Chief Administrative Officer (principal executive officer)   
Date: November 29, 2017      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: November 29, 2017