NPORT-EX 2 NPCT.htm
1
Nuveen
Core
Plus
Impact
Fund
Portfolio
of
Investments
September
30,
2022
(Unaudited)
NPCT
Principal
Amount
(000)
(1)
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
164.1%  
(99.8%
of
Total
Investments)
X
311,048,563
CORPORATE
BONDS
-
88.7%
(53.9%
of
Total
Investments)
X
311,048,563
Airlines
-
0.4%
$
2,000
Delta
Air
Lines
Inc
3.750%
10/28/29
Baa3
$
1,554,010
Auto
Components
-
0.8%
4,000
Dana
Inc
4.250%
9/01/30
BB+
2,929,806
Automobiles
-
3.9%
3,510
Ford
Motor
Co
3.250%
2/12/32
BB+
2,528,358
15,300
Harley-Davidson
Inc
(4)
4.625%
7/28/45
BBB+
11,208,113
18,810
Total
Automobiles
13,736,471
Banks
-
9.2%
5,000
Alimentation
Couche-Tard
Inc,
144A
3.625%
5/13/51
BBB
3,224,367
17,000
Intesa
Sanpaolo
SpA,
144A
4.950%
6/01/42
BB+
10,094,878
10,000
Standard
Chartered
PLC,
144A
(4)
5.300%
1/09/43
BBB+
7,939,602
15,000
UniCredit
SpA,
144A
5.459%
6/30/35
Baa3
11,153,095
47,000
Total
Banks
32,411,942
Capital
Markets
-
2.2%
9,000
Banco
BTG
Pactual
SA/Cayman
Islands,
144A
2.750%
1/11/26
Ba2
7,812,000
Chemicals
-
4.1%
5,000
LG
Chem
Ltd,
144A
2.375%
7/07/31
A3
3,910,710
5,000
LYB
International
Finance
III
LLC
3.800%
10/01/60
BBB
3,149,777
8,227
Star
Energy
Geothermal
Wayang
Windu
Ltd,
144A
6.750%
4/24/33
Ba3
7,466,002
18,227
Total
Chemicals
14,526,489
Commercial
Services
&
Supplies
-
0.5%
2,040
New
York
Public
Library
Astor
Lenox
&
Tilden
Foundations
4.305%
7/01/45
AA-
1,737,817
Communications
Equipment
-
1.9%
10,000
Vodafone
Group
PLC
5.125%
6/04/81
BB+
6,763,800
Diversified
Consumer
Services
-
1.6%
6,160
YMCA
of
Greater
New
York
2.303%
8/01/26
BBB
5,429,224
Diversified
Financial
Services
-
1.7%
2,400
Community
Preservation
Corp
2.867%
2/01/30
AA-
1,948,934
5,400
EUR
Power
Finance
Corp
Ltd
1.841%
9/21/28
Baa3
4,145,951
7,800
Total
Diversified
Financial
Services
6,094,885
Electric
Utilities
-
18.9%
5,000
EUR
EDP
-
Energias
de
Portugal
SA
1.875%
3/14/82
BB+
3,295,418
8,523
India
Cleantech
Energy2021
1,
144A
4.700%
8/10/26
Ba3
6,477,480
6,650
Interchile
SA,
144A
4.500%
6/30/56
Baa1
4,873,329
10,666
Inversiones
Latin
America
Power
Ltda,
144A
5.125%
6/15/33
BB+
5,204,932
2,000
Leeward
Renewable
Energy
Operations
LLC,
144A
4.250%
7/01/29
Ba3
1,610,000
7,330
Liberty
Utilities
Finance
GP
1,
144A
2.050%
9/15/30
BBB+
5,547,048
7,000
Pattern
Energy
Operations
LP
/
Pattern
Energy
Operations
Inc,
144A
4.500%
8/15/28
BB-
6,068,650
2,806
Solar
Star
Funding
LLC,
144A
(4)
5.375%
6/30/35
BBB
2,789,040
13,000
Southern
California
Edison
Co
(4)
3.650%
6/01/51
A-
9,049,401
Nuveen
Core
Plus
Impact
Fund
(continued)
Portfolio
of
Investments
September
30,
2022
(Unaudited)
2
NPCT
Principal
Amount
(000)(1)  
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
Electric
Utilities
(continued)
$
5,000
Star
Energy
Geothermal
Darajat
II
/
Star
Energy
Geothermal
Salak,
144A
4.850%
10/14/38
Baa3
$
3,737,500
4,330
Topaz
Solar
Farms
LLC,
144A
5.750%
9/30/39
BB
3,983,649
9,744
Topaz
Solar
Farms
LLC,
144A
4.875%
9/30/39
BB
8,477,602
5,800
Vena
Energy
Capital
Pte
Ltd
,
Reg
S
3.133%
2/26/25
BBB-
5,320,067
87,849
Total
Electric
Utilities
66,434,116
Electrical
Equipment
-
1.2%
5,000
Sociedad
de
Transmision
Austral
SA,
144A
4.000%
1/27/32
Baa2
4,053,015
Electronic
Equipment,
Instruments
&
Components
-
1.3%
5,000
SK
Battery
America
Inc
,
Reg
S
2.125%
1/26/26
Baa3
4,362,934
Equity
Real
Estate
Investment
Trusts
-
4.3%
9,915
HAT
Holdings
I
LLC
/
HAT
Holdings
II
LLC,
144A
3.375%
6/15/26
Baa3
7,956,788
2,000
HAT
Holdings
I
LLC
/
HAT
Holdings
II
LLC,
144A
3.750%
9/15/30
Baa3
1,454,400
2,000
Host
Hotels
&
Resorts
LP
2.900%
12/15/31
BBB-
1,467,837
5,000
Scentre
Group
Trust
2,
144A
5.125%
9/24/80
BBB+
4,070,350
18,915
Total
Equity
Real
Estate
Investment
Trusts
14,949,375
Gas
Utilities
-
3.8%
15,000
Brooklyn
Union
Gas
Co,
144A
(4)
4.273%
3/15/48
BBB+
10,948,907
4,000
Southern
Co
Gas
Capital
Corp
3.150%
9/30/51
BBB+
2,509,037
19,000
Total
Gas
Utilities
13,457,944
Household
Durables
-
1.2%
5,000
EUR
Arcelik
AS
,
Reg
S
3.000%
5/27/26
BB+
4,068,712
Independent
Power
And
Renewable
Electricity
Producers
-
12.7%
5,000
AES
Corp
2.450%
1/15/31
BBB-
3,825,031
6,270
Atlantica
Sustainable
Infrastructure
PLC,
144A
4.125%
6/15/28
BB+
5,278,868
6,514
Azure
Power
Energy
Ltd,
144A
3.575%
8/19/26
BB+
4,885,125
5,100
Clearway
Energy
Operating
LLC,
144A
3.750%
1/15/32
BB
3,953,673
2,400
Clearway
Energy
Operating
LLC,
144A
4.750%
3/15/28
BB
2,136,962
7,050
Colbun
SA,
144A
3.150%
1/19/32
BBB+
5,386,384
1,935
Continuum
Energy
Levanter
Pte
Ltd,
144A
4.500%
2/09/27
BB+
1,561,216
8,075
Sunnova
Energy
Corp,
144A
5.875%
9/01/26
B1
7,215,356
9,932
Sweihan
PV
Power
Co
PJSC,
144A
3.625%
1/31/49
BBB+
7,877,963
2,846
UEP
Penonome
II
SA,
144A
6.500%
10/01/38
BB
2,447,446
55,122
Total
Independent
Power
And
Renewable
Electricity
Producers
44,568,024
Machinery
-
1.8%
5,000
Mueller
Water
Products
Inc,
144A
4.000%
6/15/29
Ba1
4,255,050
2,305
YMCA
of
Greater
New
York
5.021%
8/01/38
BBB
2,133,470
7,305
Total
Machinery
6,388,520
Media
-
1.7%
10,000
Discovery
Communications
LLC
4.000%
9/15/55
BBB-
5,895,979
Metals
&
Mining
-
1.1%
5,000
Teck
Resources
Ltd
5.200%
3/01/42
BBB-
4,002,342
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
2.8%
5,745
Starwood
Property
Trust
Inc,
144A
3.625%
7/15/26
BB+
4,883,250
5,710
Starwood
Property
Trust
Inc,
144A
4.375%
1/15/27
BB+
4,867,689
11,455
Total
Mortgage
Real
Estate
Investment
Trusts
(REITs)
9,750,939
3
Principal
Amount
(000)(1)  
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
Multiline
Retail
-
1.8%
$
10,000
Nordstrom
Inc
5.000%
1/15/44
BBB-
$
6,187,500
Multi-Utilities
-
0.5%
2,244
Consolidated
Edison
Co
of
New
York
Inc
4.300%
12/01/56
A-
1,731,704
Oil,
Gas
&
Consumable
Fuels
-
4.6%
4,828
Kinder
Morgan
Inc
(4)
5.300%
12/01/34
BBB
4,361,116
15,000
Santos
Finance
Ltd,
144A
(4)
3.649%
4/29/31
BBB
11,656,754
19,828
Total
Oil,
Gas
&
Consumable
Fuels
16,017,870
Real
Estate
Management
&
Development
-
0.5%
2,250
EUR
GTC
Aurora
Luxembourg
SA
,
Reg
S
2.250%
6/23/26
BBB-
1,630,472
Road
&
Rail
-
2.4%
5,000
Kansas
City
Southern/Old
4.200%
11/15/69
BBB
3,627,050
7,000
Norfolk
Southern
Corp
4.100%
5/15/21
BBB+
4,644,251
12,000
Total
Road
&
Rail
8,271,301
Trading
Companies
&
Distributors
-
1.8%
10,800
GATX
Corp
(4)
3.100%
6/01/51
BBB
6,281,372
$
411,805
Total
Corporate
Bonds
(cost
$431,554,503)
311,048,563
Principal
Amount
(000)
(1)
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
X
90,029,653
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
25.7%
(15.6%
of
Total
Investments)
X
90,029,653
Banks
-
9.3%
$
10,375
Banco
Nacional
de
Comercio
Exterior
SNC/Cayman
Islands,
144A
2.720%
8/11/31
Ba1
$
8,918,781
6,250
Citigroup
Inc
4.150%
N/A
(5)
BBB-
4,968,750
6,250
JPMorgan
Chase
&
Co
3.650%
N/A
(5)
BBB+
5,061,323
11,195
PNC
Financial
Services
Group
Inc
3.400%
N/A
(5)
Baa2
8,354,577
6,820
SVB
Financial
Group
4.000%
N/A
(5)
Baa2
5,177,851
40,890
Total
Banks
32,481,282
Communications
Equipment
-
0.8%
4,000
Vodafone
Group
PLC
4.125%
6/04/81
BB+
2,770,000
Consumer
Finance
-
1.6%
7,200
American
Express
Co
3.550%
N/A
(5)
Baa2
5,548,871
Electric
Utilities
-
1.7%
2,500
CMS
Energy
Corp
3.750%
12/01/50
BBB-
1,837,500
5,000
Southern
Co
(4)
3.750%
9/15/51
BBB-
4,054,450
7,500
Total
Electric
Utilities
5,891,950
Independent
Power
And
Renewable
Electricity
Producers
-
1.4%
4,331
AES
Andes
SA,
144A
6.350%
10/07/79
BB
3,725,591
1,500
Vistra
Corp,
144A
7.000%
N/A
(5)
Ba3
1,309,515
5,831
Total
Independent
Power
And
Renewable
Electricity
Producers
5,035,106
Nuveen
Core
Plus
Impact
Fund
(continued)
Portfolio
of
Investments
September
30,
2022
(Unaudited)
4
NPCT
Principal
Amount
(000)
(1)
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
Insurance
-
3.7%
$
15,000
Swiss
Re
Finance
Luxembourg
SA,
144A
(4)
5.000%
4/02/49
A
$
13,125,000
Multi-Utilities
-
4.3%
5,000
Algonquin
Power
&
Utilities
Corp
4.750%
1/18/82
BB+
4,083,850
2,500
CMS
Energy
Corp
4.750%
6/01/50
BBB-
2,112,500
8,000
EUR
Engie
SA
,
Reg
S
1.875%
N/A
(5)
BBB
5,351,544
4,600
Sempra
Energy
4.125%
4/01/52
BBB-
3,611,000
20,100
Total
Multi-Utilities
15,158,894
Trading
Companies
&
Distributors
-
2.9%
12,000
Air
Lease
Corp
4.650%
N/A
(5)
BB+
10,018,550
$
112,521
Total
$1,000
Par
(or
similar)
Institutional
Preferred
(cost
$117,202,870)
90,029,653
Principal
Amount
(000)
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
48863888
ASSET-BACKED
SECURITIES
-
13.9%
(8.5%
of
Total
Investments)
X
48,863,888
6,500
Alen
2021-ACEN
Mortgage
Trust
(1-Month
LIBOR
reference
rate
+
4.000%
spread),
144A
6.818%
4/15/34
BB-
$
5,895,798
5,000
BAMLL
Commercial
Mortgage
Securities
Trust
2021-
JACX
(1-Month
LIBOR
reference
rate
+
3.750%
spread),
144A
2021
JACX
6.568%
9/15/38
Ba2
4,606,812
46,337
Freddie
Mac
Multifamily
ML
Certificates
1.300%
7/25/41
N/R
4,857,039
65,420
Freddie
Mac
Multifamily
ML
Certificates
,
144A
2021
ML11
0.771%
3/25/38
N/R
3,759,650
2,273
GoodLeap
Sustainable
Home
Solutions
Trust
2021-3
,
144A
2021
3CS
3.500%
5/20/48
N/R
1,701,932
2,370
GoodLeap
Sustainable
Home
Solutions
Trust
2021-4
,
144A
2021
4GS
3.500%
7/20/48
BB
1,891,820
10,000
MFT
Trust
2020-ABC
,
144A
2020
ABC
3.593%
2/10/42
N/R
7,425,419
4,876
Mosaic
Solar
Loan
Trust
2019-2
,
144A
0.000%
9/20/40
N/R
2,730,711
6,072
Mosaic
Solar
Loan
Trust
2020-1
,
144A
0.000%
4/20/46
N/R
4,961,042
5,661
Natixis
Commercial
Mortgage
Securities
Trust
2019-MILE
(1-Month
LIBOR
reference
rate
+
2.750%
spread),
144A
5.568%
7/15/36
N/R
5,490,331
700
Natixis
Commercial
Mortgage
Securities
Trust
2019-MILE
(1-Month
LIBOR
reference
rate
+
3.500%
spread),
144A
6.318%
7/15/36
N/R
668,617
7,420
NYC
Commercial
Mortgage
Trust
2021-909
,
144A
2021
909
3.312%
4/10/43
N/R
4,874,717
$
162,629
Total
Asset-Backed
Securities
(cost
$58,354,982)
48,863,888
Principal
Amount
(000)
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
39464544
MORTGAGE-BACKED
SECURITIES
-
11.2%
(6.8%
of
Total
Investments)
X
39,464,544
4,000
BBCMS
Mortgage
Trust
2020-C6
,
144A
2020
C6
3.811%
2/15/53
N/R
$
2,741,930
3,840
Benchmark
2019-B10
Mortgage
Trust
,
144A
2019
B10
4.029%
3/15/62
N/R
2,862,327
7,887
COMM
2020-CX
Mortgage
Trust
,
144A
2020
CX
2.773%
11/10/46
N/R
5,279,372
28,727
Freddie
Mac
Multifamily
ML
Certificates
2021
ML10
2.126%
1/25/38
N/R
4,964,570
3,000
Hudson
Yards
Mortgage
Trust
,
144A
2019
3.041%
12/10/41
N/R
2,138,724
5,000
J.P.
Morgan
Chase
Commercial
Mortgage
Securities
Trust
2018-AON
,
144A
2018
AON
4.767%
7/05/31
B
4,077,994
8,000
SLG
Office
Trust
2021-OVA
,
144A
2021
OVA
2.851%
7/15/41
N/R
5,332,937
3,860
SLG
Office
Trust
2021-OVA
,
144A
2.851%
7/15/41
N/R
2,742,262
80,369
SLG
Office
Trust
2021-OVA
,
144A
0.258%
7/15/41
AA-
1,336,890
3,500
SUMIT
2022-BVUE
Mortgage
Trust
,
144A
2022
BVUE
2.989%
2/12/41
N/R
2,383,946
7,000
VNDO
Trust
2016-350P
,
144A
4.033%
1/10/35
B
5,603,592
$
155,183
Total
Mortgage-Backed
Securities
(cost
$51,781,847)
39,464,544
5
Shares
Description
(2)
Coupon
Ratings
(3)
Value
X
34,272,411
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
9.8%
(6.0%
of
Total
Investments)
X
34,272,411
Banks
-
1.8%
300,000
First
Republic
Bank/CA
4.000%
BBB-
$
4,968,000
75,000
First
Republic
Bank/CA
4.250%
BBB-
1,337,250
Total
Banks
6,305,250
Capital
Markets
-
1.5%
300,000
Affiliated
Managers
Group
Inc
4.200%
Baa1
5,139,000
Equity
Real
Estate
Investment
Trusts
-
1.9%
400,000
Hudson
Pacific
Properties
Inc
4.750%
Baa3
6,676,000
Independent
Power
And
Renewable
Electricity
Producers
-
1.1%
200,000
Brookfield
Renewable
Partners
LP
5.250%
BBB-
3,922,000
Multi-Utilities
-
1.5%
100,426
Brookfield
Infrastructure
Partners
LP
5.125%
BBB-
1,686,153
200,000
CMS
Energy
Corp
4.200%
BBB-
3,420,000
Total
Multi-Utilities
5,106,153
Real
Estate
Management
&
Development
-
0.4%
77,904
Brookfield
Property
Partners
LP
5.750%
BB
1,324,368
Trading
Companies
&
Distributors
-
1.6%
269,000
Triton
International
Ltd
5.750%
BB
5,799,640
Total
$25
Par
(or
similar)
Retail
Preferred
(cost
$48,440,556)
34,272,411
Principal
Amount
(000)
(1)
Description
(2)
Coupon
Maturity
Ratings
(3)
Value
24,882,451
SOVEREIGN
DEBT
-
7.1%
(4.3%
of
Total
Investments)
X
24,882,451
Benin
-
1.8%
$
10,000
EUR
Benin
Government
International
Bond
,
144A
4.950%
1/22/35
B+
$
6,171,078
Chile
-
1.0%
5,000
Chile
Government
International
Bond
3.100%
5/07/41
A
3,387,774
Egypt
-
0.5%
2,500
Egypt
Government
International
Bond
,
144A
5.250%
10/06/25
B+
1,942,950
Mexico
-
1.7%
3,150
Mexico
Government
International
Bond
4.875%
5/19/33
BBB
2,768,802
5,000
EUR
Mexico
Government
International
Bond
2.250%
8/12/36
BBB
3,200,890
Total
Mexico
5,969,692
Peru
-
2.1%
9,870
Peruvian
Government
International
Bond
3.000%
1/15/34
Baa1
7,410,957
Total
Sovereign
Debt
(cost
$37,897,218)
24,882,451
Nuveen
Core
Plus
Impact
Fund
(continued)
Portfolio
of
Investments
September
30,
2022
(Unaudited)
6
NPCT
Principal
Amount
(000)
Description
(2)
Coupon
(6)
Reference
Rate
(6)
Spread
(6)
Maturity
(7)
Ratings
(3)
Value
X
15,629,091
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
4.4%
(2.7%
of
Total
Investments)
(6)
X
15,629,091
Commercial
Services
&
Supplies
-
2.7%
$
10,498
LTR
Intermediate
Holdings,
Inc.,
Term
Loan
8.174%
ICE
Libor
USD
1
Month
450.000%
5/07/28
B
$
9,605,460
Electric
Utilities
-
1.7%
6,136
ExGen
Renewables
IV,
LLC,
Term
Loan
5.570%
3-Month
LIBOR
2.500%
12/15/27
BB-
6,023,631
$
16,634
Total
Variable
Rate
Senior
Loan
Interests
(cost
$16,596,711)
15,629,091
Principal
Amount
(000)
Description
(2)
Optional
Call
Provisions
(8)
Ratings
(3)
Value
X
11,477,791
MUNICIPAL
BONDS
-
3.3%
(2.0%
of
Total
Investments)
X
11,477,791
Arizona
-
0.2%
$
810
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
KIPPC
NYC
Public
Charter
Schools
-
Gerard
Facility
Project,
Series
2021C,
3.250%,
7/01/31
No
Opt.
Call
BBB-
$
687,259
District
of
Columbia
-
0.1%
220
District
of
Columbia
Water
and
Sewer
Authority,
Public
Utility
Revenue
Bonds,
Taxable
Senior
Lien
Green
Series
2014A,
4.814%,
10/01/14
No
Opt.
Call
AAA
193,623
Michigan
-
1.4%
City
of
Detroit,
Michigan,
General
Obligation
Bonds,
Series
2021:
1,000
2.960%,
4/01/27
No
Opt.
Call
BB-
882,518
500
3.110%,
4/01/28
No
Opt.
Call
BB-
430,662
2,245
3.244%,
4/01/29
No
Opt.
Call
BB-
1,890,432
425
3.344%,
4/01/30
No
Opt.
Call
BB-
352,193
1,575
Detroit,
Wayne
County,
Michigan,
General
Obligation
Bonds,
Taxable
Series
2021B,
3.644%,
4/01/34
4/31
at
100.00
BB-  
1,265,654
5,745
Total
Michigan
4,821,459
7
Investments
in
Derivatives
Principal
Amount
(000)
Description
(2)
Optional
Call
Provisions
(8)
Ratings
(3)
Value
Montana
-
0.3%
$
1,000
County
of
Gallatin,
Montana,
Series
2022,
11.500%,
9/01/27,
144A
9/25
at
103.00
N/R
$
1,042,974
New
York
-
1.3%
5,300
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Taxable
Green
Climate
Certified
Series
2020C-2,
5.175%,
11/15/49
No
Opt.
Call
A3
4,732,476
$
13,075
Total
Municipal
Bonds
(cost
$14,984,731)
11,477,791
Total
Long-Term
Investments
(cost
$776,813,418)
575,668,392
Principal
Amount
(000)
Description
(2)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
 0.4% (0.2%
of
Total
Investments)
X
1,399,238
REPURCHASE
AGREEMENTS
-
0.4%
(0.2%
of
Total
Investments)
X
1,399,238
$
1,399
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
9/30/22,
repurchase
price
$1,399,335,
collateralized
by
$1,123,400,
U.S.
Treasury
Inflation
Index
Notes,
0.125%,
due
1/15/23,
value
$1,427,340
0.830%
10/03/22
$
1,399,238
Total
Short-Term
Investments
(cost
$1,399,238)
1,399,238
Total
Investments
(cost
$
778,212,656
)
-
164
.5
%
577,067,630
Borrowings
-
(27.8)%
(9),(10)
(
97,500,000
)
Reverse
Repurchase
Agreements,
including
accrued
interest
-
(19.7)%(11)
(
69,129,670
)
MuniFund
Preferred
Shares,
net
of
deferred
offering
costs
-
(19.9)%(12)
(
69,728,025
)
Other
Assets
Less
Liabilities
-  2.9%(13)
10,139,312
Net
Assets
Applicable
to
Common
Shares
-
100%
$
350,849,247
Forward
Foreign
Currency
Contracts
Currency
Purchased
Notional
Amount
(Local
Currency)
Currency
Sold
Notional
Amount
(Local
Currency)
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
U.S.
Dollar
7,490,219
Euro
7,507,068
Toronto
Dominion
Bank
11/18/22
$
143,437
$–
Nuveen
Core
Plus
Impact
Fund
(continued)
Portfolio
of
Investments
September
30,
2022
(Unaudited)
8
NPCT
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:
Cross
Currency
Swaps
-
OTC
Uncleared
Counterparty
Terms
of
payments
to
be
paid
Terms
of
payments
to
be
received
Currency
Maturity
Date
Notional
Amount
(Local
Currency)
Value
Upfront
Premiums
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
Citibank
N.A.
Fixed
annual
2.250%
Fixed
semi-annual
3.562%
USD
EUR
6/23/26
2,725,875
2,250,000
$
505,521
$
24,848
$
480,673
Citibank
N.A.
Fixed
semi-annual
1.875%
Fixed
annual
3.493%
USD
EUR
7/02/31
3,543,900
3,000,000
734,800
(
6,824
)
741,624
Citibank
N.A.
Fixed
semi-annual
1.875%
Fixed
annual
3.472%
USD
EUR
7/02/31
5,904,500
5,000,000
1,213,043
16,559
1,196,484
Citibank
N.A.
Fixed
semi-annual
2.250%
Fixed
annual
3.775%
USD
EUR
8/12/36
5,909,000
5,000,000
1,371,861
12,274
1,359,587
JPMorgan
Chase
Bank,
N.A.
Fixed
semi-annual
1.875%
Fixed
annual
3.431%
USD
EUR
6/14/29
5,905,000
5,000,000
1,057,906
(
3,787
)
1,061,693
Morgan
Stanley
Capital
Services
LLC
Fixed
semi-annual
3.000%
Fixed
annual
4.330%
USD
EUR
5/27/26
6,088,500
5,000,000
1,202,168
4,250
1,197,918
Morgan
Stanley
Capital
Services
LLC
Fixed
semi-annual
1.841%
Fixed
annual
3.337%
USD
EUR
9/21/28
6,376,320
5,400,000
1,089,859
(
3
)
1,089,862
Total
$
7,175,158
$
47,317
$
7,127,841
9
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Corporate
Bonds
$
–
$
311,048,563
$
–
$
311,048,563
$1,000
Par
(or
similar)
Institutional
Preferred
–
90,029,653
–
90,029,653
Asset-Backed
Securities
–
48,863,888
–
48,863,888
Mortgage-Backed
Securities
–
39,464,544
–
39,464,544
$25
Par
(or
similar)
Retail
Preferred
34,272,411
–
–
34,272,411
Sovereign
Debt
–
24,882,451
–
24,882,451
Variable
Rate
Senior
Loan
Interests
–
15,629,091
–
15,629,091
Municipal
Bonds
–
11,477,791
–
11,477,791
Short-Term
Investments:
Repurchase
Agreements
–
1,399,238
–
1,399,238
Investments
in
Derivatives:
Forward
Foreign
Currency
Contracts*
–
143,437
–
143,437
Cross
Currency
Swaps*
–
7,127,841
–
7,127,841
Total
$
34,272,411
$
550,066,497
$
–
$
584,338,908
*
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)
Principal
Amount
(000)
denominated
in
U.S.
Dollars,
unless
otherwise
noted.
(2)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(3)
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.
(4)
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
$77,780,281
have
been
pledged
as
collateral
for
reverse
repurchase
agreements.
(5)
Perpetual
security.
Maturity
date
is
not
applicable.
(6)
Senior
loans
generally
pay
interest
at
rates
which
are
periodically
adjusted
by
reference
to
a
base
short-term,
floating
lending
rate
(Reference
Rate)
plus
an
assigned
fixed
rate
(Spread).
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.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(7)
Senior
loans
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
may
occur.
As
a
result,
the
actual
remaining
maturity
of
senior
loans
held
may
be
substantially
less
than
the
stated
maturities
shown.
(8)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(9)
Borrowings
as
a
percentage
of
Total
Investments
is
16.9%.
(10)
The
Fund
may
pledge
up
to
100%
of
its
eligible
investment
(excluding
any
investments
pledged
as
collateral
to
specific
investments
in
derivatives,
when
applicable)
in
the
Portfolio
of
Investments
as
collateral
for
borrowings.
(11)
Reverse
Repurchase
Agreements,
including
accrued
interest
as
a
percentage
of
Total
investments
is
12.0%.
(12)
MuniFund
Preferred
Shares,
net
of
deferred
offering
costs
as
a
percentage
of
Total
Investments
is
12.1%.
(13)
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.
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.
EUR
Euro
LIBOR
London
Inter-Bank
Offered
Rate
N/A
Not
Applicable.
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.