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, |
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 |